Edgar Filing: MFS MUNICIPAL INCOME TRUST

MFS MUNICIPAL INCOME 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 811-4841

MFS MUNICIPAL INCOME 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: October 31

Date of reporting period: January 31, 2010

ITEM 1.

SCHEDULE OF INVESTMENTS.

LOGO

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10


Issuer	Shares/Par		Value ($)
Municipal Bonds – 143.4%
Airport & Port Revenue – 2.9%
Branson, MO, Regional Airport Transportation Development District Airport Rev., “B”, 6%, 2025	$	325,000	$	237,844
Branson, MO, Regional Airport Transportation Development District Airport Rev., “B”, 6%, 2037		100,000		67,728
Branson, MO, Regional Airport Transportation Development District Airport Rev., “B”, 6%, 2037		675,000		438,358
Chicago, IL, O’Hare International Airport Rev. (Third Lien Passenger Facility), “B”, FSA, 5.75%, 2022		3,000,000		3,135,179
Maryland Economic Development Corp. Rev. (Terminal Project), “B”, 5.375%, 2025		195,000		195,674
Maryland Economic Development Corp. Rev. (Terminal Project), “B”, 5.75%, 2035		375,000		379,743
Oklahoma City, OK, Airport Trust Rev., FSA, 5.75%, 2016		3,125,000		3,160,218

			$	7,614,744

General Obligations - General Purpose – 0.3%
Luzerne County, PA, FSA, 6.75%, 2023	$	870,000	$	932,770

General Obligations - Improvement – 0.2%
Guam Government, “A”, 6.75%, 2029	$	270,000	$	279,935
Guam Government, “A”, 7%, 2039		305,000		319,694

			$	599,629

General Obligations - Schools – 1.2%
Beverly Hills, CA, Unified School District, Capital Appreciation (Election of 2008), 0%, 2031	$	525,000	$	158,507
Kane Kendall County, IL, Community College District, Capital Appreciation, “E”, FGIC, 0%, 2023		1,945,000		978,353
Kane Kendall County, IL, Community College District, Capital Appreciation, “E”, FGIC, 0%, 2025		1,915,000		850,680
Los Angeles, CA, Unified School District, “D”, 5%, 2034		180,000		179,493
Royse City, TX, Independent School District, School Building, Capital Appreciation, PSF, 0%, 2027		955,000		404,317
Royse City, TX, Independent School District, School Building, Capital Appreciation, PSF, 0%, 2029		965,000		363,852
Santa Clarita Community College District, CA, Election 2006, NATL, 0%, 2030		595,000		150,986

			$	3,086,188

Healthcare Revenue - Hospitals – 44.0%
Alexander City, AL, Special Care Facilities Financing Authority Medical Facilities Rev., “A” (Russell Hospital Corp.), 5.75%, 2036	$	600,000	$	506,537
Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny Health), 9.25%, 2010 (c)		2,000,000		2,179,000
Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny Health), “A”, 5%, 2028		1,905,000		1,432,178
Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny Health), “A”, 5.375%, 2040		1,055,000		767,438
Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny Health), “B”, 9.25%, 2010 (c)		1,000,000		1,089,499
Athens County, OH, Hospital Facilities Rev. (O’Bleness Memorial Hospital), “A”, 7.125%, 2033		1,500,000		1,304,219
Birmingham, AL, Baptist Medical Center, Special Care Facilities Rev. (Baptist Health Systems, Inc.), “A”, 5%, 2030		2,260,000		1,883,009
Brookhaven, NY, Industrial Development Agency Rev. (Memorial Hospital Medical Center, Inc.), “A”, ETM, 7.75%, 2010 (c)		160,000		168,834
California Health Facilities Financing Authority Rev. (St. Joseph Health System), “A”, 5.75%, 2039		650,000		671,905
California Statewide Communities Development Authority Rev. (Children’s Hospital), 5%, 2047		550,000		464,019
California Statewide Communities Development Authority Rev. (St. Joseph Health System), FGIC, 5.75%, 2047		670,000		684,740

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
California Statewide Communities Development Authority Rev. (Valleycare Health Systems), “A”, 5%, 2022	$	205,000	$	187,530
California Statewide Communities Development Authority Rev. (Valleycare Health Systems), “A”, 5.125%, 2031		100,000		86,381
California Valley Health Systems, COP, 6.875%, 2023 (d)		595,000		297,500
Chautauqua County, NY, Industrial Development Agency, Civic Facilities Rev. (Women’s Christian Assn.), “A”, 6.35%, 2017		115,000		114,847
Chautauqua County, NY, Industrial Development Agency, Civic Facilities Rev. (Women’s Christian Assn.), “A”, 6.4%, 2029		955,000		868,410
Chemung County, NY, Civic Facilities Rev. (St. Joseph’s Hospital-Elmira), “A”, 6%, 2013		325,000		244,624
Chemung County, NY, Civic Facilities Rev. (St. Joseph’s Hospital-Elmira), “B”, 6.35%, 2013		105,000		79,030
Citrus County, FL, Hospital Development Authority Rev. (Citrus Memorial Hospital), 6.25%, 2023		825,000		817,559
Clinton County, MO, Industrial Development Agency, Health Facilities Rev. (Cameron Regional Medical Center), 5%, 2032		275,000		204,457
Colorado Health Facilities Authority Rev. (Parkview Medical Center), 6.6%, 2011 (c)		1,000,000		1,090,080
Colorado Health Facilities Authority Rev. (Portercare Adventist Health Systems), 6.625%, 2011 (c)		675,000		751,640
Crittenden County, AR, Hospital Rev., 7%, 2010 (c)		1,030,000		1,067,029
Cullman County, AL, Health Care Authority (Cullman Regional Medical Center), “A”, 6.75%, 2029		865,000		871,358
Cuyahoga County, OH, Hospital Facilities Rev. (Canton, Inc.), 7.5%, 2030		1,330,000		1,345,774
Fruita, CO, Rev. (Family Health West Project), 7%, 2018		255,000		265,646
Fruita, CO, Rev. (Family Health West Project), 8%, 2043		1,310,000		1,394,678
Garden City, MI, Hospital Finance Authority Rev. (Garden City Hospital), “A”, 4.875%, 2027		1,275,000		899,984
Gaylord, MI, Hospital Finance Authority Rev. (Otsego Memorial Hospital), 6.2%, 2025		250,000		225,873
Gaylord, MI, Hospital Finance Authority Rev. (Otsego Memorial Hospital), 6.5%, 2031		295,000		260,972
Genesee County, NY, Industrial Development Agency Civic Facility Rev. (United Memorial Medical Center), 5%, 2027		170,000		136,238
Glendale, AZ, Industrial Development Authority (John C. Lincoln Health), 5%, 2042		755,000		646,220
Grand Forks, ND, Health Care Authority Rev. (Altru Health Systems Obligated Group), 7.125%, 2010 (c)		755,000		788,884
Gulfport, MS, Hospital Facilities Rev. (Memorial Hospital), 5.75%, 2031		725,000		725,152
Harris County, TX, Health Facilities Development Corp., Hospital Rev. (Memorial Hermann Healthcare Systems), “B”, 7.25%, 2035		610,000		685,158
Illinois Finance Authority Rev. (Kewanee Hospital), 5.1%, 2031		390,000		302,098
Illinois Finance Authority Rev. (Provena Health), “A”, 7.75%, 2034		945,000		1,069,589
Illinois Finance Authority Rev. (Silver Cross Hospital & Medical Centers), 6.875%, 2038		940,000		971,471
Indiana Health & Educational Facilities Authority, Hospital Rev. (Community Foundation of Northwest Indiana), “A”, 6.375%, 2011 (c)		3,025,000		3,298,248
Indiana Health & Educational Facilities Authority, Hospital Rev. (Community Foundation of Northwest Indiana), “A”, 6.375%, 2031		965,000		980,392
Indiana Health & Educational Facilities Authority, Hospital Rev. (Riverview Hospital), 6.125%, 2031		1,000,000		998,220
Indiana Health & Educational Facilities Finance Authority, Hospital Rev. (Clarian Health), “A”, 5%, 2039		1,000,000		897,350
Indiana Health & Educational Facilities Finance Authority, Hospital Rev. (Community Foundation of Northwest Indiana), 5.5%, 2037		2,220,000		2,114,927
Johnson City, TN, Health & Educational Facilities Board Hospital Rev. (Mountain States Health), “A”, 5.5%, 2036		660,000		636,821
Joplin, MO, Industrial Development Authority Health Facilities Rev. (Freeman Health Systems), 5.5%, 2029		440,000		416,654

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
Joplin, MO, Industrial Development Authority Health Facilities Rev. (Freeman Health Systems), 5.75%, 2035	$	475,000	$	456,732
Kentucky Economic Development Finance Authority (Norton Healthcare), “A”, 6.5%, 2020		3,035,000		3,113,182
Knox County, TN, Health, Educational, Hospital & Housing Facilities Board Rev. (Baptist Health Systems), 6.5%, 2031		1,725,000		1,815,338
Lauderdale County & Florence, AL, Health Care Authority Rev. (Coffee Health Group), NATL, 5.625%, 2021		3,000,000		2,707,650
Louisiana Public Facilities Authority Hospital Rev. (Lake Charles Memorial Hospital), 6.375%, 2034		1,525,000		1,319,079
Lufkin, TX, Health Facilities Development Corp. Rev. (Memorial Health System), 5.5%, 2032		110,000		101,556
Lufkin, TX, Health Facilities Development Corp. Rev. (Memorial Health System), 5.5%, 2037		110,000		96,835
Macomb County, MI, Hospital Finance Authority Rev. (Mount Clemens General Hospital), 5.875%, 2013 (c)		435,000		509,107
Maryland Health & Higher Educational Facilities Authority Rev. (Medstar Health), 5.5%, 2033		380,000		384,697
Maryland Health & Higher Educational Facilities Authority Rev. (Mercy Medical Center), “A”, 5.5%, 2042		1,070,000		1,026,280
Maryland Health & Higher Educational Facilities Authority Rev. (Washington County Hospital), 6%, 2043		285,000		283,361
Massachusetts Health & Educational Facilities Authority Rev. (Berkshire Health Systems), “E”, 6.25%, 2031		1,900,000		1,922,040
Massachusetts Health & Educational Facilities Authority Rev. (Caritas Christi), “A”, 5.7%, 2015		425,000		427,597
Massachusetts Health & Educational Facilities Authority Rev. (Jordan Hospital), “D”, 5.25%, 2018		1,400,000		1,214,486
Massachusetts Health & Educational Facilities Authority Rev. (Quincy Medical Center), “A”, 6.5%, 2038		640,000		564,186
Massachusetts Health & Educational Facilities Authority Rev. (Saints Memorial Medical Center), “A”, 6%, 2023		270,000		211,661
Miami Beach, FL, Health Facilities Authority Rev. (Mount Sinai Medical Center), 6.75%, 2029		810,000		754,839
Miami Beach, FL, Health Facilities Authority Rev. (Mount Sinai Medical Center), “A”, 6.7%, 2019		995,000		980,175
Michigan Hospital Finance Authority Rev. (Henry Ford Health System), 5.75%, 2039		2,000,000		1,947,020
Monroe County, MI, Hospital Finance Authority, Hospital Rev. (Mercy Memorial Hospital Corp.), 5.5%, 2035		1,020,000		794,774
Montgomery, AL, Medical Clinic Board Health Care Facility Rev. (Jackson Hospital & Clinic), 5.25%, 2031		225,000		204,203
Montgomery, AL, Medical Clinic Board Health Care Facility Rev. (Jackson Hospital & Clinic), 5.25%, 2036		1,135,000		1,016,574
Mount Lebanon, PA, Hospital Authority Rev. (St. Clair Memorial Hospital), 5.625%, 2032		435,000		431,772
Nassau County, NY, Industrial Development Agency, Civic Facilities Rev. (North Shore Health System), 5.625%, 2010		135,000		138,340
Nassau County, NY, Industrial Development Agency, Civic Facilities Rev. (North Shore Health System), 5.875%, 2011		175,000		179,461
New Hampshire Business Finance Authority Rev. (Elliot Hospital Obligated Group), “A”, 6%, 2027		1,110,000		1,123,686
New Hampshire Health & Education Facilities Authority Rev. (Catholic Medical Center), “A”, 6.125%, 2012 (c)		880,000		998,026
New Hampshire Health & Education Facilities Authority Rev. (Catholic Medical Center), “A”, 6.125%, 2032		120,000		119,341
New Hampshire Health & Education Facilities Authority Rev. (Covenant Health System), 6.5%, 2012 (c)		440,000		489,025

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
New Hampshire Health & Education Facilities Authority Rev. (Covenant Health System), 6.5%, 2017	$	205,000	$	215,418
New Jersey Health Care Facilities, Financing Authority Rev. (St. Peter’s University Hospital), 5.75%, 2037		1,010,000		997,587
New Jersey Health Care Facilities, Financing Authority Rev. (St. Peter’s University Hospital), “A”, 6.875%, 2030		3,000,000		3,012,780
New Mexico Hospital Equipment Loan Council, Hospital Rev. (Rehoboth McKinley Christian Hospital), “A”, 5%, 2017		100,000		88,157
New Mexico Hospital Equipment Loan Council, Hospital Rev. (Rehoboth McKinley Christian Hospital), “A”, 5.25%, 2026		440,000		347,063
New York Dormitory Authority Rev. (NYU Hospital Center), “B”, 5.25%, 2024		430,000		429,549
New York Dormitory Authority Rev. (NYU Hospital Center), “B”, 5.625%, 2037		560,000		549,612
New York, NY, Industrial Development Agency, Civic Facilities Rev. (Staten Island University Hospital), “A”, 6.375%, 2031		465,000		429,576
Norman, OK, Regional Hospital Authority Rev., 5%, 2027		300,000		238,302
Norman, OK, Regional Hospital Authority Rev., 5.375%, 2029		175,000		141,738
Norman, OK, Regional Hospital Authority Rev., 5.375%, 2036		1,395,000		1,059,377
Ohio County, WV, County Commission Health System Rev. (Ohio Valley Medical Center), 5.75%, 2013		455,000		407,871
Ohio Higher Educational Facility Commission Rev. (University Hospital Health System), 6.75%, 2039		1,610,000		1,709,707
Oklahoma Development Finance Authority Rev. (Comanche County Hospital), “B”, 6.6%, 2031		1,665,000		1,701,747
Olympia, WA, Healthcare Facilities Authority Rev. (Catholic Health Initiatives), “D”, 6.375%, 2036		1,500,000		1,625,880
Palomar Pomerado Health Care District, CA, COP, 6.75%, 2039		1,975,000		2,021,413
Philadelphia, PA, Hospitals & Higher Education Facilities Authority Rev. (Temple University Health System), “A”, 6.625%, 2023		765,000		765,864
Philadelphia, PA, Hospitals & Higher Education Facilities Authority Rev. (Temple University Health System), “A”, 5.5%, 2030		590,000		518,356
Rhode Island Health & Educational Building Corp., Hospital Financing (Lifespan Obligated Group), 6.375%, 2012 (c)		1,560,000		1,731,959
Rhode Island Health & Educational Building Corp., Hospital Financing (Lifespan Obligated Group), 6.5%, 2012 (c)		505,000		574,988
Royal Oak, MI, Hospital Finance Authority Rev. (William Beaumont Hospital), 8.25%, 2039		1,595,000		1,884,461
Royston, GA, Hospital Authority Rev. (Ty Cobb Healthcare Systems, Inc.), 6.375%, 2014		955,000		943,492
Salida, CO, Hospital District Rev., 5.25%, 2036		1,675,000		1,314,607
Salt Lake City, UT, Hospital Authority Rev. (Intermountain Health Care), ETM, AMBAC, 12.974%, 2020 (c)(p)		600,000		601,224
Shelby County, TN, Educational & Hospital Facilities Board Hospital Rev. (Methodist Healthcare), 6.375%, 2012 (c)		625,000		706,850
Shelby County, TN, Educational & Housing Facilities Board Hospital Rev. (Methodist Healthcare), 6.25%, 2012 (c)		185,000		208,643
Shelby County, TN, Educational & Housing Facilities Board Hospital Rev. (Methodist Healthcare), 6.25%, 2012 (c)		315,000		355,257
Shelby County, TN, Educational & Housing Facilities Board Hospital Rev. (Methodist Healthcare), 6.375%, 2012 (c)		375,000		424,110
Skagit County, WA, Public Hospital District No. 001 Rev. (Skagit Valley Hospital), 5.375%, 2022		1,455,000		1,464,647
Skagit County, WA, Public Hospital District No. 001 Rev. (Skagit Valley Hospital), 6%, 2023		205,000		209,824
Skagit County, WA, Public Hospital District No. 001 Rev. (Skagit Valley Hospital), 5.75%, 2032		165,000		163,330
South Carolina Jobs & Economic Development Authority (Bon Secours - St. Francis Medical Center, Inc.), 5.625%, 2030		560,000		551,522

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Hospitals – continued
South Carolina Jobs & Economic Development Authority, Hospital Facilities Rev. (Palmetto Health Alliance), 6.25%, 2031	$	835,000	$	843,058
South Dakota Health & Education Facilities Authority Rev. (Prairie Lakes Health Care System), 5.625%, 2032		670,000		653,786
South Lake County, FL, Hospital District Rev. (South Lake Hospital), “A”, 6%, 2029		255,000		257,660
South Lake County, FL, Hospital District Rev. (South Lake Hospital), “A”, 6.25%, 2039		385,000		389,239
Southwestern, IL, Development Authority Rev. (Anderson Hospital), 5.5%, 2020		60,000		58,456
Southwestern, IL, Development Authority Rev. (Anderson Hospital), 5.625%, 2029		870,000		825,082
St. Paul, MN, Housing & Redevelopment Authority Healthcare Facilities Rev. (Healthpartners Obligated Group), 5.25%, 2036		1,085,000		991,289
Sullivan County, TN, Health, Educational & Housing Facilities Board Hospital Rev. (Wellmont Health Systems Project), “C”, 5.25%, 2036		1,115,000		989,696
Tallahassee, FL, Health Facilities Rev. (Tallahassee Memorial Healthcare, Inc.), 6.25%, 2020		3,085,000		3,117,207
Texas Metro Health Facilities Development Corp., Metro Health Facilities Development Rev. (Wilson N. Jones Memorial Hospital), 7.2%, 2021		700,000		701,456
Texas Metro Health Facilities Development Corp., Metro Health Facilities
Development Rev. (Wilson N. Jones Memorial Hospital), 7.25%, 2031		1,000,000		965,550
Tom Green County, TX, Health Facilities Rev. (Shannon Health System), 6.75%, 2021		1,250,000		1,289,575
Tyler, TX, Health Facilities Development Corp. (East Texas Medical Center), “A”, 5.25%, 2032		985,000		953,175
Tyler, TX, Health Facilities Development Corp. (East Texas Medical Center), “A”, 5.375%, 2037		810,000		782,201
Upper Illinois River Valley Development, Health Facilities Rev. (Morris Hospital), 6.625%, 2031		600,000		607,896
Valley, AL, Special Care Facilities, Financing Authority Rev. (Lanier Memorial Hospital), 5.6%, 2016		600,000		524,832
Vigo County, IN, Hospital Authority Rev. (Union Hospital), 5.75%, 2042		220,000		178,941
Vigo County, IN, Hospital Authority Rev. (Union Hospital), 5.8%, 2047		1,035,000		836,632
Wapello County, IA, Hospital Authority Rev. (Ottumwa Regional Health Center), 6.375%, 2012 (c)		1,500,000		1,698,450
Washington Health Care Facilities Authority Rev. (Virginia Mason Medical Center), “A”, 6.25%, 2042		1,400,000		1,420,930
Weirton, WV, Municipal Hospital Building, Commission Rev. (Weirton Hospital Medical Center), 6.375%, 2031		1,115,000		1,094,919
Weslaco, TX, Health Facilities Rev. (Knapp Medical Center), 6.25%, 2012 (c)		1,000,000		1,102,660
West Contra Costa, CA, Healthcare District, AMBAC, 5.5%, 2029		195,000		198,730
West Plains, MO, Industrial Development Authority Rev. (Ozarks Medical Center), 6.75%, 2024		170,000		164,885
West Shore, PA, Hospital Authority Rev. (Holy Spirit Hospital), 6.2%, 2026		1,250,000		1,255,488
West Virginia Hospital Finance Authority, Hospital Rev. (Thomas Health System), 6.5%, 2038		905,000		833,596
Wichita, KS, Hospital Authority Rev. (Via Christi Health System), 6.25%, 2020		1,500,000		1,573,515
Wisconsin Health & Educational Facilities Authority Rev. (Aurora Health Care, Inc.), 6.875%, 2030		1,000,000		1,033,520
Wisconsin Health & Educational Facilities Authority Rev. (Wheaton Franciscan Services), 5.25%, 2034		1,135,000		1,021,001
Wisconsin Health & Educational Facilities Authority Rev. (Wheaton Franciscan Services), “A”, 5.25%, 2025		745,000		698,326
Yonkers, NY, Industrial Development Agency, Civic Facilities Rev. (St. John’s Riverside Hospital), 6.8%, 2016		510,000		516,727
Yonkers, NY, Industrial Development Agency, Civic Facilities Rev. (St. Joseph’s Hospital), “C”, 6.2%, 2020		750,000		323,363

			$	117,519,947

Healthcare Revenue - Long Term Care – 15.6%
ABAG Finance Authority for Non-Profit Corps. (Casa de las Campanas), 6%, 2037	$	175,000	$	172,898

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Long Term Care – continued
Abilene, TX, Health Facilities Development Corp., Retirement Facilities Rev. (Sears Methodist Retirement), “A”, 7%, 2033	$	345,000	$	310,510
Arizona Health Facilities Authority Rev. (The Terraces Project), 7.75%, 2013 (c)		750,000		917,933
Bell County, TX, Health Facility Development Corp. (Advanced Living Technologies, Inc.), 8%, 2036		3,490,000		2,586,439
Bucks County, PA, Industrial Development Authority Retirement Community Rev. (Ann’s Choice, Inc.), “A”, 6.125%, 2025		430,000		398,103
Bucks County, PA, Industrial Development Authority Retirement Community Rev. (Ann’s Choice, Inc.), “A”, 6.25%, 2035		290,000		258,283
Bucks County, PA, Industrial Development Authority Rev. (Lutheran Community Telford Center), 5.75%, 2027		170,000		141,314
Bucks County, PA, Industrial Development Authority Rev. (Lutheran Community Telford Center), 5.75%, 2037		225,000		173,185
Cambria County, PA, Industrial Development Authority Rev. (Beverly Enterprises, Inc.), ETM, 10%, 2012 (c)		220,000		238,491
Chartiers Valley, PA, Industrial & Commercial Development Authority (Asbury Health Center Project), 5.75%, 2022		150,000		133,116
Chester County, PA, Industrial Development Authority Rev. (RHA Nursing Home), 8.5%, 2032		570,000		509,802
Colorado Health Facilities Authority Rev. (American Baptist Homes), “A”, 5.9%, 2037		755,000		586,567
Colorado Health Facilities Authority Rev. (Christian Living Communities Project), “A”, 5.75%, 2037		395,000		331,764
Colorado Health Facilities Authority Rev. (Covenant Retirement Communities, Inc.), “B”, 6.125%, 2033		1,000,000		985,730
Colorado Health Facilities Authority Rev. (Evangelical Lutheran), 6.9%, 2010 (c)		1,830,000		1,963,865
Colorado Health Facilities Authority Rev. (Evangelical Lutheran), 6.9%, 2025		1,170,000		1,200,853
Cumberland County, PA, Municipal Authority Rev. (Diakon Lutheran Social Ministries), 6.125%, 2029		1,360,000		1,312,006
Cumberland County, PA, Municipal Authority Rev. (Wesley), “A”, 7.25%, 2013 (c)		720,000		850,738
Cumberland County, PA, Municipal Authority, Retirement Community Rev. (Wesley), “A”, 7.25%, 2013 (c)		280,000		330,842
Franklin County, OH, Healthcare Facilities Rev. (Ohio Presbyterian), 7.125%, 2011 (c)		1,000,000		1,096,360
Fulton County, GA, Residential Care Facilities (Lenbrook Project), “A”, 5.125%, 2042		1,750,000		1,143,520
Fulton County, GA, Residential Care Facilities, Elderly Authority Rev. (Canterbury Court), “A”, 6.125%, 2034		330,000		286,688
Georgia Medical Center Hospital Authority Rev. (Spring Harbor Green Island Project), 5.25%, 2027		1,000,000		835,090
Georgia Medical Center Hospital Authority Rev. (Spring Harbor Green Island Project), 5.25%, 2037		215,000		166,604
Hamden, CT, Facility Rev. (Whitney Center Project), “A”, 7.625%, 2030		130,000		132,720
Hamden, CT, Facility Rev. (Whitney Center Project), “A”, 7.75%, 2043		630,000		641,264
Hawaii Department of Budget & Finance, Special Purpose Rev. (15 Craigside Project), “A”, 8.75%, 2029		105,000		114,878
Hawaii Department of Budget & Finance, Special Purpose Rev. (15 Craigside Project), “A”, 9%, 2044		275,000		299,596
Hawaii Department of Budget & Finance, Special Purpose Rev. (Kahala Nui Senior Living Community), 8%, 2033		500,000		534,485
Huntsville-Redstone Village, AL, Special Care Facilities Financing Authority (Redstone Village Project), 5.5%, 2028		590,000		425,189
Huntsville-Redstone Village, AL, Special Care Facilities Financing Authority (Redstone Village Project), 5.5%, 2043		440,000		283,686
Illinois Finance Authority Rev. (Franciscan Communities, Inc.), “A”, 5.5%, 2037		800,000		541,296
Illinois Finance Authority Rev. (Friendship Village), “A”, 5.375%, 2025		1,270,000		1,087,323
Illinois Finance Authority Rev. (Landing at Plymouth Place), “A”, 6%, 2037		490,000		389,496
Illinois Finance Authority Rev. (Montgomery Place), “A”, 5.75%, 2038		520,000		402,813
Illinois Finance Authority Rev. (The Clare at Water Tower), “A”, 6%, 2025 (a)		490,000		196,818
Illinois Finance Authority Rev., Bond Anticipation Notes (Tallgrass), 13%, 2012		210,000		217,671

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Long Term Care – continued
Iowa Finance Authority, Health Care Facilities Rev. (Care Initiatives), 9.25%, 2011 (c)	$	1,075,000	$	1,219,147
Iowa Finance Authority, Health Care Facilities Rev. (Care Initiatives), “A”, 5.5%, 2025		800,000		642,712
Iowa Finance Authority, Health Care Facilities Rev. (Care Initiatives), “B”, 5.75%, 2018		825,000		748,019
Iowa Finance Authority, Senior Housing Rev. (Bethany Life Communities), “A”, 5.55%, 2041		230,000		167,399
James City County, VA, Economic Development (WindsorMeade Project), “A”, 5.4%, 2027		585,000		357,031
James City County, VA, Economic Development (WindsorMeade Project), “A”, 5.5%, 2037		785,000		446,869
Lenexa, KS, Health Care Facilities Rev. (Lakeview Village, Inc.), 5.375%, 2027		315,000		268,030
Lenexa, KS, Health Care Facilities Rev. (Lakeview Village, Inc.), 7.125%, 2029		345,000		347,532
Lenexa, KS, Health Care Facilities Rev. (Lakeview Village, Inc.), “C”, 6.875%, 2012 (c)(f)		500,000		571,025
Massachusetts Development Finance Agency Rev. (Adventcare), “A”, 6.75%, 2037		1,270,000		1,070,661
Massachusetts Development Finance Agency Rev. (Linden Ponds, Inc.), “A”, 5.5%, 2027		340,000		257,931
Massachusetts Development Finance Agency Rev. (Linden Ponds, Inc.), “A”, 5.75%, 2035		85,000		62,434
Massachusetts Development Finance Agency Rev. (The Groves in Lincoln), “A”, 7.75%, 2039		150,000		148,095
Massachusetts Development Finance Agency Rev. (The Groves in Lincoln), “A”, 7.875%, 2044		225,000		224,035
Millbrae, CA, Residential Facilities Rev. (Magnolia of Millbrae), “A”, 7.375%, 2027		1,745,000		1,718,720
Montgomery County, PA, Higher Education & Health Authority Rev. (AHF/Montgomery), 6.875%, 2036		1,195,000		999,797
Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh Continuing Care), 6.125%, 2028		250,000		198,083
Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh Continuing Care), 6.25%, 2035		510,000		383,469
New Jersey Economic Development Authority Rev. (Lions Gate), “A”, 5.875%, 2037		530,000		416,331
New Jersey Economic Development Authority Rev. (Seabrook Village, Inc.), 5.25%, 2036		715,000		572,465
New Jersey Health Care Facilities Financing Authority Rev. (Cherry Hill), 8%, 2027		1,000,000		753,310
Norfolk, VA, Redevelopment & Housing Authority Rev. (Fort Norfolk Retirement Community), “A”, 6%, 2025		215,000		194,175
Norfolk, VA, Redevelopment & Housing Authority Rev. (Fort Norfolk Retirement Community), “A”, 6.125%, 2035		330,000		284,750
Orange County, FL, Health Facilities Authority Rev. (Orlando Lutheran Tower), 5.5%, 2038		320,000		244,573
Sarasota County, FL, Health Facility Authority Rev. (Sarasota Manatee), 5.75%, 2037		490,000		386,590
Sarasota County, FL, Health Facility Authority Rev. (Sarasota Manatee), 5.75%, 2045		105,000		80,536
Scott County, IA, Rev. (Ridgecrest Village), 5.25%, 2027		245,000		194,981
Shelby County, TN, Health, Educational & Housing Facilities Board Rev. (Germantown Village), “A”, 7.25%, 2034		820,000		779,295
South Carolina Jobs & Economic Development Authority Rev. (Lutheran Homes of South Carolina), 5.5%, 2028		130,000		113,822
South Carolina Jobs & Economic Development Authority Rev. (Lutheran Homes of South Carolina), 5.625%, 2042		150,000		122,586
South Carolina Jobs & Economic Development Authority Rev. (Woodlands at Furman), “A”, 6%, 2027		515,000		388,732
South Carolina Jobs & Economic Development Authority Rev. (Woodlands at Furman), “A”, 6%, 2042		470,000		320,935
Sterling, IL (Hoosier Care), 7.125%, 2034		670,000		563,282
Suffolk County, NY, Industrial Development Agency (Medford Hamlet Assisted Living), 6.375%, 2039		490,000		377,222
Tarrant County, TX, Cultural Education Facilities Finance Corp. Retirement Facility (Air Force Village), 6.125%, 2029		100,000		98,025

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Healthcare Revenue - Long Term Care – continued
Tarrant County, TX, Cultural Education Facilities Finance Corp. Retirement Facility (Air Force Village), 6.375%, 2044	$	780,000	$	765,469
Tarrant County, TX, Cultural Education Facilities Finance Corp. Retirement Facility (Air Force Village), 8.25%, 2044		1,500,000		1,459,635
Travis County, TX, Health Facilities Development Corp., Retirement Facilities Rev. (Querencia Barton Creek), 5.5%, 2025		460,000		390,361
Ulster County, NY, Industrial Development Agency (Woodland Pond), “A”, 6%, 2037		1,075,000		833,050
Wisconsin Health & Educational Facilities Authority Rev. (All Saints Assisted Living Project), 6%, 2037		340,000		242,294

			$	41,611,344

Human Services – 2.6%
Alaska Industrial Development & Export Authority Community Provider Rev. (Boys & Girls Home of Alaska, Inc.), 5.875%, 2027	$	210,000	$	155,354
Alaska Industrial Development & Export Authority Community Provider Rev. (Boys & Girls Home of Alaska, Inc.), 6%, 2036		325,000		226,343
Greenville County, SC, Hospital Rev. (Chestnut Hill), “A”, 8%, 2015		1,480,000		1,481,051
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev. (CDF Healthcare), “A”, 7%, 2036		500,000		451,385
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev. (CDF Healthcare), “C”, 7%, 2036		375,000		338,539
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev. (Westside Rehab Center Project), “A”, 6.85%, 2036		1,100,000		910,492
Louisiana Local Government, Environmental Facilities & Community Development Authority Rev. (Westside Rehab Center Project), “B”, 6.5%, 2013		115,000		113,053
New York, NY, Industrial Development Agency, Civic Facility Rev. (A Very Special Place), “A”, 5.75%, 2029		1,000,000		814,180
New York, NY, Industrial Development Agency, Civic Facility Rev. (Special Needs Facilities), 6.5%, 2017		1,030,000		959,332
Orange County, FL, Health Facilities Authority Rev. (GF/Orlando Healthcare Facilities), 8.75%, 2011		195,000		196,535
Orange County, FL, Health Facilities Authority Rev. (GF/Orlando Healthcare Facilities), 9%, 2031		1,000,000		989,570
Osceola County, FL, Industrial Development Authority Rev. (Community Provider), 7.75%, 2017		243,000		241,761

			$	6,877,595

Industrial Revenue - Airlines – 7.7%
Alliance Airport Authority, TX (American Airlines, Inc.), 5.25%, 2029	$	660,000	$	414,843
Chicago, IL, O’Hare International Airport Special Facilities Rev. (American Airlines, Inc.), 5.5%, 2030		190,000		129,227
Clayton County, GA, Development Authority Special Facilities Rev. (Delta Airlines, Inc.), “A”, 8.75%, 2029		385,000		395,976
Clayton County, GA, Development Authority Special Facilities Rev. (Delta Airlines, Inc.), “B”, 9%, 2035		285,000		287,802
Dallas Fort Worth, TX, International Airport Facility Improvement Corp. (American Airlines, Inc.), 5.5%, 2030		1,425,000		919,638
Denver, CO, City & County Airport Rev. (United Airlines), 5.25%, 2032		3,735,000		2,673,774
Denver, CO, City & County Airport Rev. (United Airlines), 5.75%, 2032		925,000		710,280
Houston, TX, Airport Systems Rev., Special Facilities (Continental, Inc.), “E”, 6.75%, 2029		1,810,000		1,705,599
Los Angeles, CA, Regional Airport Lease Rev. (American Airlines, Inc.), “C”, 7.5%, 2024		850,000		836,825
New Jersey Economic Development Authority, Special Facilities Rev. (Continental Airlines, Inc.), 6.25%, 2029		1,300,000		1,147,627
New Jersey Economic Development Authority, Special Facilities Rev. (Continental Airlines, Inc.), 7.2%, 2030		1,595,000		1,549,654
New York, NY, City Industrial Development Agencies Rev. (American Airlines, Inc.), 7.5%, 2016		725,000		718,417

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Industrial Revenue - Airlines – continued
New York, NY, City Industrial Development Agencies Rev. (American Airlines, Inc.), 7.625%, 2025	$	6,625,000	$	6,492,633
New York, NY, City Industrial Development Agencies Rev. (American Airlines, Inc.), 7.75%, 2031		2,540,000		2,482,926

			$	20,465,221

Industrial Revenue - Chemicals – 1.1%
Brazos River, TX, Harbor Navigation District (Dow Chemical Co.), “B-2”, 4.95%, 2033	$	75,000	$	67,346
Louisiana Environmental Facilities & Community Development Authority Rev. (Westlake Chemical), 6.75%, 2032		1,000,000		1,030,200
Red River Authority, TX, Pollution Control Rev. (Celanese Project) “B”, 6.7%, 2030		1,920,000		1,927,488

			$	3,025,034

Industrial Revenue - Environmental Services – 2.7%
California Pollution Control Financing Authority, Solid Waste Disposal Rev. (Browning Ferris, Inc.), “A”, 5.8%, 2016	$	1,000,000	$	1,002,710
California Pollution Control Financing Authority, Solid Waste Disposal Rev. (Waste Management, Inc.), “A”, 5%, 2022		695,000		679,126
Cobb County, GA, Development Authority, Solid Waste Disposal Rev. (Waste Management, Inc.), “A”, 5%, 2033		220,000		193,640
Director of the State of Nevada Department of Business & Industry Rev. (Republic Services, Inc.), 5.625%, 2026 (b)		750,000		776,903
Gulf Coast Waste Disposal Authority (Waste Management, Inc.), 5.2%, 2028		440,000		437,400
Henrico County, VA, Industrial Development Authority Rev. (Browning Ferris, Inc.), 5.45%, 2014		1,750,000		1,822,940
Mission, TX, Economic Development Corp., Solid Waste Disposal Rev. (Allied Waste N.A., Inc.), “A”, 5.2%, 2018		440,000		437,369
New Morgan, PA, Industrial Development Authority, Solid Waste Disposal Rev. (New Morgan Landfill Co., Inc./Browning Ferris, Inc.), 6.5%, 2019		1,000,000		1,001,470
Yavapai County, AZ, Industrial Development Authority Rev. (Waste Management, Inc.), 4.9%, 2028		885,000		844,113

			$	7,195,671

Industrial Revenue - Metals – 0.2%
Jacksonville, FL, Economic Development Commission, Industrial Development Authority Rev. (Gerdau Ameristeel U.S., Inc.), 5.3%, 2037	$	645,000	$	465,580

Industrial Revenue - Other – 5.0%
Aztalan, WI, Exempt Facility Rev. (Renew Energy LLC Project), 7.5%, 2018 (d)	$	835,000	$	131,763
Baker, FL, Correctional Development Corp. (Baker County Detention Center), 7.5%, 2030		440,000		373,912
California Statewide Communities, Development Authority Facilities (Microgy Holdings Project), 9%, 2038 (a)		13,387		2,644
Gulf Coast, TX, Industrial Development Authority Rev. (Microgy Holdings LLC Project), 7%, 2036 (a)		238,610		47,125
Gulf Coast, TX, Industrial Development Authority Rev. (Valero Energy Corp.), 5.6%, 2031		1,750,000		1,543,413
Gulf Coast, TX, Waste Disposal Rev. (Valero Energy Corp.), 6.65%, 2032		1,000,000		1,000,870
New Jersey Economic Development Authority Rev. (GMT Realty LLC), “B”, 6.875%, 2037		430,000		325,192
New Jersey Economic Development Authority Rev. (GMT Realty LLC), “C”, 6.5%, 2015		700,000		692,664
New York, NY, City Industrial Development Agency Rev., Liberty Bonds (IAC/InterActiveCorp), 5%, 2035		620,000		468,546
Park Creek Metropolitan District, CO, Rev. (Custodial Receipts), “CR-1”, 7.875%, 2032 (b)(n)		1,270,000		1,295,527
Park Creek Metropolitan District, CO, Rev. (Custodial Receipts), “CR-2”, 7.875%, 2032 (b)(n)		580,000		591,658
Pennsylvania Economic Development Financing Authority, Finance Authority Facilities Rev. (Amtrak), “A”, 6.25%, 2031		2,000,000		2,029,380

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Industrial Revenue - Other – continued
Philadelphia, PA, Industrial Development Authority Rev. (Host Marriott LP), 7.75%, 2017	$	3,255,000	$	3,262,552
Texas Midwest Public Facilities Corp. Rev. (Secure Treatment Facilities Project), 9%, 2030		395,000		409,030
Tooele County, UT, Hazardous Waste Treatment Rev. (Union Pacific Corp.), 5.7%, 2026		1,120,000		1,123,842

			$	13,298,118

Industrial Revenue - Paper – 4.1%
Bedford County, VA, Industrial Development Authority Rev. (Nekoosa Packaging), “A”, 6.55%, 2025	$	1,000,000	$	1,000,560
Butler, AL, Industrial Development Board, Solid Waste Disposal Rev. (Georgia Pacific Corp.), 5.75%, 2028		155,000		140,388
Cass County, TX, Industrial Development Corp. (International Paper Co.), “A”, 4.625%, 2027		2,150,000		1,693,942
Delta County, MI, Economic Development Corp., Environmental Improvement Rev. (Meadwestvaco Escanaba), “B”, 6.45%, 2012 (c)		500,000		554,965
Effingham County, GA, Development Authority, Solid Waste Disposal Rev. (Fort James), 5.625%, 2018		850,000		825,860
Effingham County, GA, Industrial Development Authority, Pollution Control (Georgia Pacific Corp. Project), 6.5%, 2031		500,000		505,085
Escambia County, FL, Environmental Improvement Rev. (International Paper Co.), “A”, 4.75%, 2030		525,000		407,773
Hodge, LA, Utilities Rev. (Stone Container Corp.), 7.45%, 2024 (d)		3,590,000		3,159,200
Lowndes County, MS, Solid Waste Disposal & Pollution Control Rev. (Weyerhaeuser Co.), 6.8%, 2022		2,000,000		2,168,940
Rockdale County, GA, Development Authority Project Rev. (Visy Paper Project), “A”, 6.125%, 2034		640,000		518,701
West Point, VA, Industrial Development Authority, Solid Waste Disposal Rev. (Chesapeake Corp.), 6.25%, 2019 (d)		1,870,000		19,261
West Point, VA, Industrial Development Authority, Solid Waste Disposal Rev. (Chesapeake Corp.), “A”, 6.375%, 2019 (d)		700,000		7,210

			$	11,001,885

Miscellaneous Revenue - Entertainment & Tourism – 0.7%
Brooklyn, NY, Arena Local Development Corp. (Barclays Center Project), 6%, 2030	$	230,000	$	235,147
Brooklyn, NY, Arena Local Development Corp. (Barclays Center Project), 6.25%, 2040		150,000		152,994
Brooklyn, NY, Arena Local Development Corp. (Barclays Center Project), 6.375%, 2043		225,000		229,385
Mississippi Development Bank, Special Obligation (Diamond Lakes Utilities), 6.25%, 2017		700,000		650,720
New York Liberty Development Corp. Rev. (National Sports Museum), “A”, 6.125%, 2019 (d)		369,599		1,109
Seminole Tribe, FL, Special Obligation Rev., “A”, 5.25%, 2027 (n)		515,000		459,838
Seneca Nation Indians, NY, Capital Improvements Authority, Special Obligation, 5%, 2023 (n)		275,000		233,250

			$	1,962,443

Miscellaneous Revenue - Other – 3.4%
Austin, TX, Convention Center (Convention Enterprises, Inc.), “A”, 6.7%, 2011 (c)	$	600,000	$	635,022
Austin, TX, Convention Center (Convention Enterprises, Inc.), “A”, SYNCORA, 5.25%, 2017		215,000		208,096
Austin, TX, Convention Center (Convention Enterprises, Inc.), “A”, SYNCORA, 5.25%, 2024		220,000		198,603
Austin, TX, Convention Center (Convention Enterprises, Inc.), “A”, SYNCORA, 5%, 2034		110,000		85,155
Austin, TX, Convention Center (Convention Enterprises, Inc.), “B”, 5.75%, 2034		775,000		626,657
Cleveland-Cuyahoga County, OH, Port Authority Rev. (Cleveland City), “B”, 4.5%, 2030		690,000		492,812

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Miscellaneous Revenue - Other – continued
Cleveland-Cuyahoga County, OH, Port Authority Rev. (Fairmount), “B”, LOC, 5.125%, 2025	$	165,000	$	137,999
Columbus, OH, Franklin County Finance Authority Development Rev., 6%, 2035		830,000		814,039
Dayton Montgomery County, OH, Port Authority Rev. (Parking Garage), 6.125%, 2024		1,130,000		992,524
Hardeman County, TN, Correctional Facilities Rev., 7.75%, 2017		1,680,000		1,682,134
Madison County, FL, Rev. (Twin Oaks Project), “A”, 6%, 2025		520,000		407,170
New Orleans, LA, Aviation Board Gulf Opportunity Zone CFC Rev. (Consolidated Rental Car), “A”, 6.25%, 2030		455,000		469,064
Riversouth, OH, Authority Rev. (Lazarus Building), “A”, 5.75%, 2027		1,125,000		970,594
Southwestern Illinois Development Authority Rev., Solid Waste Disposal Rev., 5.9%, 2014		275,000		267,110
Summit County, OH, Port Authority Building Rev. (Seville Project), “A”, 5.1%, 2025		170,000		142,635
Summit County, OH, Port Authority Building Rev. (Twinsburg Township), “D”, 5.125%, 2025		155,000		130,414
Summit County, OH, Port Authority Building Rev. (Workforce Policy Board), “F”, 4.875%, 2025		915,000		745,268
Toledo-Lucas County, OH, Port Authority Development Rev. (Northwest Ohio Bond Fund), “C”, 5.125%, 2025		90,000		74,926

			$	9,080,222

Multi-Family Housing Revenue – 2.7%
Bay County, FL, Housing Finance Authority, Multi-Family Rev. (Andrews Place II Apartments), FSA, 5%, 2035	$	210,000	$	196,484
Bay County, FL, Housing Finance Authority, Multi-Family Rev. (Andrews Place II Apartments), FSA, 5.1%, 2046		390,000		360,914
Charter Mac Equity Issuer Trust, FHLMC, 6%, 2019 (n)		2,000,000		2,060,320
Indianapolis, IN, Multi-Family Rev. (Cambridge Station Apartments II), FNMA, 5.25%, 2039 (b)		435,000		439,533
Metropolitan Government of Nashville & Davidson County, TN, Health, Educational & Housing Facilities Board Rev. (Berkshire Place), GNMA, 6%, 2023		500,000		510,055
Mississippi Home Corp., Rev. (Kirkwood Apartments), 6.8%, 2037		1,095,000		716,042
MuniMae TE Bond Subsidiary LLC, 5.4%, 2049 (z)		1,000,000		655,130
MuniMae TE Bond Subsidiary LLC, 7.5%, 2049 (n)		1,947,714		1,850,679
North Charleston, SC, Housing Authority Rev. (Horizon Village), “A”, GNMA, 5.15%, 2048		445,000		422,296

			$	7,211,453

Sales & Excise Tax Revenue – 0.2%
Desloge, MO, Tax Increment Rev. (U.S. Highway 67 Street Redevelopment), 5.2%, 2020	$	225,000	$	210,580
Utah Transit Authority Sales Tax Rev., “A”, NATL, 0%, 2028		950,000		342,038

			$	552,618

Single Family Housing - Local – 0.8%
Corpus Christi, TX, Housing Finance Authority Rev., “B”, 0%, 2011 (a)	$	960,000	$	66,634
Dallas, TX, Housing Finance Corp., Single Family Mortgage Rev., NATL, 0%, 2016		1,305,000		658,647
Jefferson Parish, LA, Single Family Mortgage Rev., GNMA, 6.3%, 2032		360,000		368,262
Jefferson Parish, LA, Single Family Mortgage Rev., “B-1”, GNMA, 6.625%, 2023		145,000		153,617
Nortex, TX, Housing Finance Corp., Single Family Mortgage Rev., “B”, 5.5%, 2038		35,000		27,916
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., “A”, GNMA, 6.45%, 2029		185,000		190,602
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., “A”, GNMA, 5.9%, 2035		180,000		182,939
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., “A”, GNMA, 6.25%, 2035		85,000		90,190
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., “A-1”, GNMA, 5.75%, 2037		80,000		81,477
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., “A-2”, GNMA, 5.75%, 2037		295,000		301,773

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Single Family Housing - Local – continued
Sedgwick & Shawnee Counties, KS, Single Family Housing Rev., “A-5”, GNMA, 5.9%, 2037	$	115,000	$	118,000

			$	2,240,057

Single Family Housing - State – 0.9%
Colorado Housing & Finance Authority Rev., “C-2”, 5.9%, 2023	$	115,000	$	119,575
Colorado Housing & Finance Authority Rev., “C-2”, FHA, 6.6%, 2032		110,000		118,613
Colorado Housing & Finance Authority Rev., “C-3”, FHA, 6.375%, 2033		45,000		46,583
Colorado Housing & Finance Authority Rev., “D-2”, 6.9%, 2029		250,000		265,025
Missouri Housing Development Commission, Single Family Mortgage Rev. (Home Loan Program), GNMA, 6.35%, 2032		165,000		166,081
Missouri Housing Development Commission, Single Family Mortgage Rev. (Home Loan Program), GNMA, 6.85%, 2032		85,000		87,995
Nebraska Investment Finance Authority Single Family Mortgage Rev., 0%, 2015		1,375,000		845,625
New Hampshire Housing Finance Authority Rev., “B”, 5.875%, 2030		35,000		35,444
Texas Affordable Housing Corp. (Single Family Mortgage), “B”, GNMA, 5.25%, 2039		715,000		717,274

			$	2,402,215

Solid Waste Revenue – 1.2%
Massachusetts Development Finance Agency, Resource Recovery Rev. (Ogden Haverhill Associates), “A”, 6.7%, 2014	$	360,000	$	363,888
Massachusetts Development Finance Agency, Resource Recovery Rev. (Ogden Haverhill Associates), “A”, 5.6%, 2019		2,850,000		2,649,902
Pennsylvania Economic Development Financing Authority, Sewer Sludge Disposal Rev. (Philadelphia Biosolids Facility), 6.25%, 2032		145,000		147,994

			$	3,161,784

State & Agency - Other – 0.4%
Commonwealth of Puerto Rico (Mepsi Campus), “A”, 6.25%, 2024	$	200,000	$	191,298
Commonwealth of Puerto Rico (Mepsi Campus), “A”, 6.5%, 2037		900,000		815,814

			$	1,007,112

State & Local Appropriation – 0.1%
Philadelphia, PA, Municipal Authority Rev., 6.5%, 2034	$	260,000	$	273,333
Student Loan Revenue – 0.6%
Access to Loans for Learning, CA, Student Loan Rev., 7.95%, 2030	$	650,000	$	632,073
Massachusetts Educational Financing Authority, Education Loan Rev., “H”, ASSD GTY, 6.35%, 2030		1,000,000		1,052,910

			$	1,684,983

Tax - Other – 0.2%
Virgin Islands Public Finance Authority Rev. (Diageo Project), “A”, 6.75%, 2037	$	395,000	$	420,312

Tax Assessment – 6.3%
Arborwood Community Development District, FL, Capital Improvement Rev. (Master Infrastructure Projects), “A”, 5.35%, 2036	$	610,000	$	346,736
Arborwood Community Development District, FL, Special Assessment (Master Infrastructure Projects), “B”, 5.1%, 2014		215,000		156,924
Atlanta, GA, Tax Allocation (Eastside Project), “B”, 5.6%, 2030		815,000		742,987
Atlanta, GA, Tax Allocation (Princeton Lakes Project), 5.5%, 2031		470,000		398,607
Baltimore, MD, Special Obligation, “A”, 7%, 2038		715,000		691,005
Belmont Community Development District, FL, Capital Improvement Rev., “B”, 5.125%, 2014 (d)		970,000		262,016
Capital Region Community Development District, FL, Capital Improvement Rev., “A”, 7%, 2039		465,000		431,334
Concord Station Community Development District, FL, Special Assessment, 5%, 2015		205,000		133,262
Concorde Estates Community Development District, FL, Special Assessment, “B”, 5%, 2011 (d)		475,000		152,594
Du Page County, IL, Special Service Area No. 31 Special Tax (Monarch Landing Project), 5.625%, 2036		305,000		225,877

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Tax Assessment – continued
Durbin Crossing Community Development District, FL, Special Assessment, “B-1”, 4.875%, 2010	$	235,000	$	189,549
Enclave at Black Point Marina Community Development District, FL, “B”, 5.2%, 2014		215,000		132,623
Fishhawk Community Development District, FL, 5.125%, 2014		225,000		211,858
Grand Bay at Doral Community Development District, FL, “A”, 6%, 2039		170,000		91,142
Grand Bay at Doral Community Development District, FL, “B”, 6%, 2017		995,000		680,073
Heritage Harbour North Community Development District, FL, Capital Improvement Rev., 6.375%, 2038		560,000		444,097
Homestead, FL, Community Development District, Special Assessment, “A”, 6%, 2037 (d)		670,000		398,081
Homestead, FL, Community Development District, Special Assessment, “B”, 5.9%, 2013 (d)		310,000		185,659
Katy, TX, Development Authority Rev., “B”, 6%, 2018		925,000		833,194
Killarney Community Development District, FL, Special Assessment, “B”, 5.125%, 2009 (a)		170,000		102,032
Lancaster County, SC, Assessment Rev. (Sun City Carolina Lakes), 5.45%, 2037		100,000		78,190
Legends Bay Community Development District, FL, “A”, 5.5%, 2014		420,000		263,777
Legends Bay Community Development District, FL, “A”, 5.875%, 2038		355,000		218,243
Magnolia Park Community Development District, FL, Special Assessment, “A”, 6.15%, 2039		1,140,000		744,876
Main Street Community Development District, FL, “A”, 6.8%, 2038		555,000		428,693
Main Street Community Development District, FL, “B”, 6.9%, 2017		420,000		375,148
Naturewalk Community Development District, FL, Capital Improvement Rev., “B”, 5.3%, 2016		650,000		351,000
New Port Tampa Bay Community Development District, FL, Special Assessment, “B”, 5.3%, 2012 (d)		440,000		140,712
North Springs Improvement District, FL, Special Assessment (Parkland Golf Country Club), “B-1”, 5.125%, 2015		400,000		356,824
North Springs Improvement District, FL, Special Assessment (Parkland Golf Country Club), “B-2”, 5.125%, 2015		125,000		111,508
Ohio County, WV, Commission Tax Increment Rev. (Fort Henry Centre), “A”, 5.85%, 2034		235,000		212,983
Old Palm Community Development District, FL, Special Assessment (Palm Beach Gardens), “A”, 5.9%, 2035		235,000		169,990
Old Palm Community Development District, FL, Special Assessment (Palm Beach Gardens), “B”, 5.375%, 2014		240,000		216,708
OTC Community Development District, FL, Special Assessment, “A”, 5.3%, 2038		985,000		716,834
Overland Park, KS, Special Assessment (Tallgrass Creek), 4.85%, 2016		170,000		148,376
Overland Park, KS, Special Assessment (Tallgrass Creek), 5.125%, 2028		350,000		247,184
Panther Trace II, Community Development District, FL, Special Assessment, 5.125%, 2013		325,000		257,930
Panther Trace II, Community Development District, FL, Special Assessment, “B”, 5%, 2010		220,000		206,853
Parker Road Community Development District, FL, “A”, 5.6%, 2038		335,000		185,124
Parkway Center Community Development District, FL, Special Assessment, “B”, 5.625%, 2014		1,030,000		733,484
Paseo Community Development District, FL, “B”, 4.875%, 2010 (d)		390,000		160,072
Prince George’s County, MD, Special Obligation (National Harbor Project), 5.2%, 2034		245,000		206,266
Riverwood Estates Community Development District, FL, Special Assessment, “B”, 5%, 2013 (d)		870,000		174,000
Sterling Hill Community Development District, FL, Special Assessment, 5.5%, 2010		180,000		170,858
Stone Ridge, CO, Metropolitan District No. 2, 7.25%, 2031		800,000		646,496
Tolomato Community Development District, FL, Special Assessment, 6.65%, 2040		1,070,000		847,151
Tuscany Reserve Community Development District, FL, Special Assessment, “B”, 5.25%, 2016		785,000		506,223
Villa Vizcaya Community Development District, FL, “A”, 5.55%, 2039		210,000		120,175
Watergrass Community Development District, FL, “A”, 5.375%, 2039		420,000		233,029

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Tax Assessment – continued
Watergrass Community Development District, FL, Special Assessment, “B”, 4.875%, 2010	$	715,000	$	570,091
Wentworth Estates Community Development District, FL, Special Assessment, “B”, 5.125%, 2012 (d)		340,000		175,501

			$	16,783,949

Tobacco – 8.1%
Badger, WI, Tobacco Asset Securitization Corp., 6.125%, 2027	$	2,625,000	$	2,839,646
Buckeye, OH, Tobacco Settlement Financing Authority, “A-2”, 5.875%, 2030		6,585,000		5,628,990
Buckeye, OH, Tobacco Settlement Financing Authority, “A-2”, 6%, 2042		220,000		173,906
Buckeye, OH, Tobacco Settlement Financing Authority, “A-2”, 5.875%, 2047		1,905,000		1,461,649
Buckeye, OH, Tobacco Settlement Financing Authority, “A-2”, 6.5%, 2047		1,420,000		1,185,004
California County, CA, Tobacco Securitization Corp., Tobacco Settlement, L.A. County, “A”, 0% to 2010, 5.65% to 2041		485,000		347,774
California Statewide Financing Authority, Tobacco Settlement, 5.625%, 2029		1,505,000		1,442,588
District of Columbia, Tobacco Settlement, 6.25%, 2024		900,000		904,140
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., “A-4”, 7.8%, 2013 (c)		1,000,000		1,209,170
Inland Empire, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Asset Backed, “C-1”, 0%, 2036		3,270,000		296,262
Iowa Tobacco Settlement Authority, Tobacco Settlement Rev., Asset Backed, “B”, 5.6%, 2034		1,635,000		1,413,408
Louisiana Tobacco Settlement Authority Rev., “2001-B”, 5.5%, 2030		1,435,000		1,436,995
Michigan Tobacco Settlement Finance Authority Rev., Asset Backed, “A”, 6%, 2048		1,125,000		881,269
New Jersey Tobacco Settlement Financing Corp., 5.75%, 2012 (c)		695,000		753,429
New Jersey Tobacco Settlement Financing Corp., 7%, 2013 (c)		15,000		17,867
Silicon Valley Tobacco Securitization Authority, CA, Tobacco Settlement Rev. (Santa Clara), “A”, 0%, 2036		2,115,000		207,270
Silicon Valley Tobacco Securitization Authority, CA, Tobacco Settlement Rev. (Santa Clara), “A”, 0%, 2041		1,560,000		96,892
South Carolina Tobacco Settlement Authority Rev., “B”, 6.375%, 2011 (c)		1,075,000		1,158,947
Washington Tobacco Settlement Authority Rev., 6.5%, 2026		135,000		136,751

			$	21,591,957

Toll Roads – 1.2%
E-470 Public Highway Authority, Colorado Rev., Capital Appreciation, “B”, NATL, 0%, 2027	$	4,115,000	$	1,296,513
Pennsylvania Turnpike Commission, Capital Appreciation, “C”, FSA, 0%, 2033		2,780,000		2,012,386

			$	3,308,899

Transportation - Special Tax – 1.3%
Telluride, CO, Real Estate Transfer Assessment Rev. (Gondola Transit Co.), ETM, 11.5%, 2012 (c)	$	2,900,000	$	3,424,204

Universities - Colleges – 13.7%
Brevard County, FL, Industrial Development Rev. (TUFF Florida Tech LLC Project), 6.75%, 2039	$	1,055,000	$	1,045,494
California Statewide Communities Development Authority Rev. (California Baptist University), “A”, 5.4%, 2027		370,000		313,660
California Statewide Communities Development Authority Rev. (California Baptist University), “A”, 5.5%, 2038		420,000		326,689
Harris County, TX, Cultural Education Facilities Rev. (Baylor College of Medicine), “D”, 5.625%, 2032		510,000		471,495
Houston, TX, Community College Systems, COP, NATL, 7.875%, 2012 (c)		2,500,000		2,924,800
Illinois Educational Facilities Authority Rev. (Augustana College), “A”, 5.625%, 2022		400,000		410,836
Illinois Finance Authority Rev. (Illinois Institute of Technology), “A”, 5%, 2031		795,000		678,334
Illinois Finance Authority Rev. (Illinois Institute of Technology), “A”, 5%, 2036		1,380,000		1,140,625
Illinois Finance Authority Rev. (Roosevelt University Project), 6.25%, 2029		905,000		925,978
Illinois Finance Authority Rev. (Roosevelt University Project), 6.5%, 2039		300,000		309,072

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Universities - Colleges – continued
Louisiana State University (Health Sciences Center Project), NATL, 6.375%, 2031	$	2,500,000	$	2,533,875
Massachusetts Development Finance Agency Rev. (Simmons College), “H”, SYNCORA, 5.25%, 2033		110,000		104,425
Massachusetts Health & Educational Facilities Authority Rev. (Massachusetts Institute of Technology), 5%, 2038 (u)		20,000,000		20,918,400
Massachusetts Health & Educational Facilities Authority Rev. (Simmons College), “I”, 8%, 2029		535,000		599,526
Massachusetts Health & Educational Facilities Authority Rev. (Suffolk University), “A”, 6.25%, 2030		1,370,000		1,453,926
New Jersey Educational Facilities Authority Rev. (University of Medicine & Dentistry), “B”, 6%, 2017		590,000		642,929
New Jersey Educational Facilities Authority Rev. (University of Medicine & Dentistry), “B”, 7.5%, 2032		1,065,000		1,197,167
Pennsylvania Higher Educational Facilities Authority Rev. (Lasalle University), “A”, 5.25%, 2027		105,000		105,058
Washington Higher Education Facilities Authority Rev. (Whitworth University), 5.875%, 2034		540,000		547,700

			$	36,649,989

Universities - Dormitories – 0.1%
California Statewide Communities Development Authority Rev. (Lancer Educational Student Housing Project), 5.625%, 2033	$	380,000	$	295,803

Universities - Secondary Schools – 2.1%
California Statewide Communities Development Authority Rev. (Escondido Charter High School), 7.5%, 2011 (c)	$	515,000	$	561,196
California Statewide Communities Development Authority Rev. (Escondido Charter High School), 7.5%, 2011 (c)		1,000,000		1,124,100
Colorado Housing Finance Development Rev. (Evergreen Country Day School), 5.875%, 2037		285,000		195,137
La Vernia, TX, Higher Education Finance Corp. Rev. (KIPP, Inc.), “A”, 6.25%, 2039		365,000		372,869
Lee County, FL, Industrial Development Authority Rev. (Lee Charter Foundation), “A”, 5.25%, 2027		430,000		333,745
Lee County, FL, Industrial Development Authority Rev. (Lee Charter Foundation), “A”, 5.375%, 2037		945,000		684,823
Maryland Health & Higher Educational Facilities Authority Rev. (Washington Christian Academy), 5.5%, 2038 (a)		140,000		62,898
Maryland Industrial Development Financing Authority, Economic Development Authority Rev. (Our Lady of Good Council), “A”, 6%, 2035		150,000		136,940
Michigan Municipal Bond Authority Rev. (YMCA Service Learning Academy), 7.625%, 2021		1,000,000		998,700
Utah County, UT, Charter School Rev. (Lakeview Academy), “A”, 5.625%, 2037		500,000		389,165
Utah County, UT, Charter School Rev. (Renaissance Academy), “A”, 5.625%, 2037		285,000		225,372
Utah County, UT, Charter School Rev. (Ronald Wilson Reagan Academy), “A”, 6%, 2038		795,000		633,734

			$	5,718,679

Utilities - Cogeneration – 0.5%
Alaska Industrial Development & Export Authority, Power Rev., Upper Lynn Canal Regional Power, 5.8%, 2018	$	830,000	$	817,052
Pennsylvania Economic Development Financing Authority Rev., Resource Recovery Rev. (Colver), “G”, 5.125%, 2015		300,000		289,794
Pennsylvania Economic Development Financing Authority Rev., Resource Recovery Rev. (Northampton Generating), “A”, 6.5%, 2013		600,000		333,504

			$	1,440,350

Utilities - Investor Owned – 8.5%
Brazos River Authority, TX, Authority Texas Rev. (Reliant Energy, Inc.), “A”, 5.375%, 2019	$	500,000	$	502,500

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


Issuer	Shares/Par		Value ($)
Municipal Bonds – continued
Utilities - Investor Owned – continued
Brazos River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), “C”, 5.75%, 2036 (b)	$	1,075,000	$	1,007,028
Brazos River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), “D”, 5.4%, 2029 (b)		85,000		69,543
Brazos River Authority, TX, Pollution Control Rev. (TXU Energy Co. LLC), 5%, 2041		835,000		382,664
Chula Vista, CA, Industrial Development Rev. (San Diego Gas), 5.875%, 2034		470,000		513,513
Connecticut Development Authority, Pollution Control Rev. (Connecticut Light & Power Co.), 5.95%, 2028		2,270,000		2,290,362
Farmington, NM, Pollution Control Rev. (Public Service New Mexico), “A”, 6.3%, 2016		2,195,000		2,206,919
Farmington, NM, Pollution Control Rev. (Public Service New Mexico), “C”, 5.8%, 2022		2,105,000		2,106,684
Massachusetts Development Finance Agency, Solid Waste Disposal Rev. (Dominion Energy Brayton), 5.75%, 2042 (b)		165,000		174,684
Matagorda County, TX (CenterPoint Energy), 5.6%, 2027		1,500,000		1,509,135
Matagorda County, TX, Pollution Control Rev. (Central Power & Light Co.), “A”, 6.3%, 2029		525,000		564,832
Matagorda County, TX, Pollution Control Rev. (Reliant Energy), 5.95%, 2030		1,655,000		1,567,351
Mecklenburg County, VA, Industrial Development Authority Rev. (UAE Mecklenburg LP), 6.5%, 2017		800,000		805,000
New Hampshire Business Finance Authority, Pollution Control Rev. (Public Service of New Hampshire), 6%, 2021		1,000,000		1,012,430
Owen County, KY, Waterworks System Rev. (American Water Co. Project), “A”, 6.25%, 2039		400,000		426,432
Pennsylvania Economic Development Financing Authority (Allegheny Energy Supply Co. LLC), 7%, 2039		1,165,000		1,279,787
Pima County, AZ, Industrial Development Authority Rev. (Tucson Electric Power Co.), 5.75%, 2029		1,315,000		1,325,047
Red River Authority, TX, Pollution Control Rev. (AEP Texas Central Co.), NATL, 4.45%, 2020		760,000		728,925
Sabine River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), 5.2%, 2028		340,000		178,850
Sabine River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), 5.75%, 2030 (b)		610,000		575,004
Sweetwater County, WY, Pollution Control Rev. (Idaho Power Co.), 5.25%, 2026		1,020,000		1,038,299
West Feliciana Parish, LA, Pollution Control Rev. (Gulf States Utilities Co.), 5.8%, 2015		810,000		813,629
West Feliciana Parish, LA, Pollution Control Rev. (Gulf States Utilities Co.), 5.8%, 2016		1,000,000		952,650
Yuma County, AZ, Industrial Development Authority (Far West Water & Sewer, Inc.), 6.375%, 2037		735,000		609,440

			$	22,640,708

Utilities - Other – 2.5%
California M-S-R Energy Authority Gas Rev., “A”, 7%, 2034	$	210,000	$	233,087
California M-S-R Energy Authority Gas Rev., “A”, 6.5%, 2039		465,000		488,352
Georgia Main Street Natural Gas, Inc., Gas Project Rev., “A”, 5%, 2022		500,000		501,780
Indiana Bond Bank Special Program, Gas Rev., “A”, 5.25%, 2018		440,000		456,768
Main Street Natural Gas, Inc., GA, Gas Project Rev., “A”, 5.5%, 2026		285,000		279,209
Public Authority for Colorado Energy Natural Gas Purchase Rev., 6.5%, 2038		50,000		54,865
Salt Verde Financial Corp., AZ, Senior Gas Rev., 5%, 2037		1,900,000		1,613,860
Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5%, 2014		455,000		484,816
Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5.25%, 2022		510,000		507,195
Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5.25%, 2023		80,000		78,852
Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5.25%, 2024		560,000		548,806
Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5.25%, 2026		905,000		875,778
Tennessee Energy Acquisition Corp., Gas Rev., “C”, 5%, 2025		450,000		432,999

			$	6,556,367

Water & Sewer Utility Revenue – 0.3%
Atlanta, GA, Water & Wastewater Rev., “A”, 6%, 2022	$	710,000	$	770,449

MFS Municipal Income Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/10 - continued


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

Total Municipal Bonds		$	382,871,612

Money Market Funds (v) – 0.9%
MFS Institutional Money Market Portfolio, 0.14%, at Net Asset Value	2,249,186	$	2,249,186

Total Investments		$	385,120,798

Other Assets, Less Liabilities – (1.7)%			(4,431,483	)

Preferred shares (issued by the fund) – (42.6)%			(113,750,000	)

Net assets applicable to common shares – 100.0%		$	266,939,315

(a)	Non-income producing security.

(b)	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 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 $6,491,272, representing 2.4% of net assets applicable to common shares.

(p)	Primary inverse floater.

(u)	Underlying security deposited into special purpose trust (“the trust”) by investment banker upon creation of self-deposited inverse floaters.

(v)	Underlying fund that is available only to investment companies managed by MFS. The rate quoted is the annualized seven-day yield of the fund at period end.

(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
MuniMae TE Bond Subsidiary LLC, 5.4%, 2049	10/14/04	$	1,000,000	$	655,130
% of Net Assets Applicable to Common Shares					0.2	%

The following abbreviations are used in this report and are defined:


COP		Certificate of Participation
ETM		Escrowed to Maturity
LIBOR		London Interbank Offered Rate
LOC		Letter of Credit

Insurers
AMBAC		AMBAC Indemnity Corp.
ASSD GTY		Assured Guaranty Insurance Co.
FGIC		Financial Guaranty Insurance Co.
FHA		Federal Housing Administration
FHLMC		Federal Home Loan Mortgage Corp.
FNMA		Federal National Mortgage Assn.
FSA		Financial Security Assurance, Inc.
GNMA		Government National Mortgage Assn.
NATL		National Public Finance Guarantee Corp.
PSF		Permanent School Fund
SYNCORA		Syncora Guarantee Inc.

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

MFS Municipal Income Trust

Supplemental Information (Unaudited) 1/31/10

(1) Investment Valuations

Debt instruments and floating rate loans (other than short-term instruments), including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less generally are valued at amortized cost, which approximates market value. Futures contracts are generally valued at last posted settlement price as provided by a third-party pricing service on the market on which they are primarily traded. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation as provided by a third-party pricing service on the market on which such futures contracts are primarily traded. Swaps are generally valued at valuations provided by a third-party pricing service. Open-end investment companies are generally valued at net asset value per share. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. Values obtained from third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data.

The Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments (including any fair valuation) to the adviser pursuant to valuation policies and procedures approved by the Board. If the adviser determines that reliable market quotations are not readily available, investments are valued at fair value as determined in good faith by the adviser in accordance with such procedures under the oversight of the Board of Trustees. Under the fund’s valuation policies and procedures, market quotations are not considered to be readily available for most types of debt instruments and floating rate loans and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services. In addition, investments may be valued at fair value if the adviser determines that an investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halting of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund’s net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund’s net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

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. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted 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. The following is a summary of the levels used as of January 31, 2010 in valuing the fund’s assets or liabilities carried at market value:


Investments at Value	Level 1		Level 2			Level 3		Total
Municipal Bonds	$	—	$	382,871,612		$	—	$	382,871,612
Mutual Funds		2,249,186		—			—		2,249,186

Total Investments	$	2,249,186	$	382,871,612		$	—	$	385,120,798


Other Financial Instruments
Futures	$	86,023	$	—		$	—	$	86,023
Swaps		—		(377,224	)		—		(377,224	)

For further information regarding security characteristics, see the Portfolio of Investments.

In January 2010, Accounting Standards Update (ASU) No. 2010-06, Improving Disclosures about Fair Value Measurements (the “Update”) was issued, and is effective for interim and annual reporting periods beginning after December 15, 2009. This Update provides for expanded disclosures about fair value measurements. Management is evaluating the application of the Update to the fund, and believes the impact will be limited to expanded disclosures resulting from the adoption of this Update in the fund’s financial statements.

MFS Municipal Income Trust

Supplemental Information (Unaudited) 1/31/10 - continued

(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	$	392,125,639

Gross unrealized appreciation	$	16,059,420
Gross unrealized depreciation		(33,077,461	)

Net unrealized appreciation (depreciation)	$	(17,018,041	)

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

(3) Derivative Contracts at 1/31/10

Futures Contracts Outstanding at 1/31/10


Description	Currency	Contracts	Value	Expiration Date	Unrealized Appreciation (Depreciation)
Asset Derivatives
Interest Rate Futures
U.S. Treasury Note 10 yr (Short)	USD	66	7,798,313	Mar-10	$	10,807
U.S. Treasury Bond 30 yr (Short)	USD	50	5,940,625	Mar-10		75,216

					$	86,023

Swap Agreements at 1/31/10

Expiration

Notional
Amount

Counterparty

Cash Flows
to Receive

Cash Flows
to Pay

Fair Value

Liability Derivatives

Interest Rate Swaps

2/11/30

USD

15,000,000

JPMorgan Chase Bank

3-Month LIBOR

4.49

% (fixed rate)

(377,224

)

At January 31, 2010, the fund had sufficient cash and/or other liquid securities to cover any commitments under these derivative contracts.

(4) Transactions in Underlying Funds-Affiliated Issuers

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the fund assumes the following to be affiliated issuers:


Underlying Funds	Beginning Shares/Par Amount		Acquisitions Shares/Par Amount		Dispositions Shares/Par Amount			Ending Shares/Par Amount
MFS Institutional Money
Market Portfolio		1,120,906		28,223,653		(27,095,373	)		2,249,186

Underlying Funds	Realized Gain (Loss)		Capital Gain Distributions		Dividend Income			Ending Value
MFS Institutional Money
Market Portfolio	$	—	$	—	$	1,966		$	2,249,186

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 Amended and Restated 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 MUNICIPAL INCOME TRUST


By (Signature and Title)*		MARIA F. DWYER
		Maria F. Dwyer, President

Date: March 22, 2010

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)*

MARIA F. DWYER

Maria F. Dwyer, President

(Principal Executive Officer)

Date: March 22, 2010

By (Signature and Title)*

JOHN M. CORCORAN

John M. Corcoran, Treasurer

(Principal Financial Officer

and Accounting Officer)

Date: March 22, 2010

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