ClearBridge MLP and Midstream Fund Inc. Portfolio Composition as of December 31, 2018
ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) announces its portfolio composition as of December 31, 2018.
Investment Objective: The Fund seeks to provide a high level of total return with an emphasis on cash distributions.
Investment Strategy: Under normal market conditions the Fund invests at least 80% of its managed assets in energy master limited partnerships (“MLPs”) and energy midstream entities. The Fund considers an entity to be within the energy sector if it derives at least 50% of its revenues from the business of exploring, developing, producing, gathering, fractionating, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal. The Fund may also invest up to 20% of its managed assets in other securities that are not MLPs or midstream entities.
Portfolio Composition:* |
||
Diversified Energy Infrastructure |
45.7% |
|
Gathering/Processing |
24.8% |
|
Liquids Transportation & Storage |
22.1% |
|
Refining |
2.5% |
|
Natural Gas Transportation & Storage |
2.2% |
|
Propane |
1.0% |
|
Shipping |
0.2% |
|
Cash |
1.5% |
Top 10 Holdings |
||
Enterprise Products Partners LP | 9.3% | |
Energy Transfer Equity LP | 7.3% | |
Enbridge Energy Partners LP | 6.4% | |
Oneok Partners LP MLP NPV | 5.7% | |
Magellan Midstream Partners LP | 5.6% | |
Williams Partners LP | 5.4% | |
Genesis Energy LP | 4.9% | |
Tallgrass Energy GP LP | 4.2% | |
EnLink Midstream Partners LP | 3.9% | |
Plains All American Pipeline LP | 3.6% |
Portfolio Statistics: |
|
Inception Date |
June 25, 2010 |
Inception Price |
$20.00 |
Total Assets |
$1,244,161,172 |
Net Assets** |
$817,161,172 |
Loans*** |
0.16% |
Fixed Rate Notes*** |
29.74% |
Reverse Repos*** |
0.00% |
Preferred Shares*** |
4.42% |
Market Price: |
$10.41 |
NAV |
$11.60 |
(Daily NAV is available on market quotation systems using the symbol XCEMX.) |
|
Distribution Rate |
$ 0.355 per share**** |
Frequency |
Quarterly (declared quarterly, paid quarterly) |
Note: Prior to October 22, 2018, the fund was known as ClearBridge Energy MLP Fund Inc.
* |
Portfolio holdings and weightings are historical and are presented
here for |
** |
The difference between total assets and net assets, if any, is due
primarily to |
*** | Percentages are based on total assets. |
**** |
The Fund declared the 1Q2019 distribution that will be paid on
February 28, |
ClearBridge MLP and Midstream Fund Inc. is a non-diversified, closed-end management investment company which is advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and subadvised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are wholly owned subsidiaries of Legg Mason, Inc.
An investment in the Fund involves risk, including loss of principal. The Fund's concentration of investments in energy related MLPs and midstream entities subject it to the risks of investing in MLPs, midstream entities and the energy sector. Investment return and the value of shares will fluctuate.
Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.
For more information, please call Fund Investor Services at 1-888-777-0102, or consult the Fund’s web site at http://www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.
FN1112198
View source version on businesswire.com: https://www.businesswire.com/news/home/20190129005321/en/