ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of November 30, 2021.
As of November 30, 2021, the Fund’s net assets were $421.9 million, and its net asset value per share was $31.16. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 411% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 325%.
| As of November 30, 2021 | |||||||
| Amount (millions) | Per Share | ||||||
| Investments | $ |
593.1 |
$ |
43.81 |
|
||
| Cash and Cash Equivalents |
|
7.7 |
|
0.57 |
|
||
| Other Assets |
|
10.3 |
|
0.76 |
|
||
| Total Assets | $ |
611.1 |
$ |
45.14 |
|
||
| Senior Notes* | $ |
73.3 |
$ |
5.41 |
|
||
| Loans Outstanding* |
|
75.0 |
|
5.54 |
|
||
| Mandatory Redeemable Preferred Shares* |
|
38.8 |
|
2.87 |
|
||
| Total Leverage | $ |
187.1 |
$ |
13.82 |
|
||
| Other Liabilities | $ |
2.1 |
$ |
0.16 |
|
||
| Total Liabilities | $ |
2.1 |
$ |
0.16 |
|
||
| Net Assets | $ |
421.9 |
$ |
31.16 |
|
||
| Outstanding Shares |
|
13,539,195 |
|||||
| * The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 411%. | |||||||
| * The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 325%. | |||||||
| Top Ten Equity Holdings (as of November 30, 2021)** | |||||||
| Market Value | |||||||
| Name | (millions) | % of Investments | *** | ||||
| MPLX LP | $ |
51.2 |
|
8.6 |
% |
||
| Enterprise Products Partners LP | $ |
44.9 |
|
7.6 |
% |
||
| ONEOK Inc. | $ |
39.4 |
|
6.6 |
% |
||
| Williams Cos. Inc. | $ |
38.3 |
|
6.4 |
% |
||
| Targa Resources Corp. | $ |
36.5 |
|
6.2 |
% |
||
| DCP Midstream LP | $ |
31.6 |
|
5.3 |
% |
||
| Western Midstream Partners LP | $ |
31.4 |
|
5.3 |
% |
||
| Magellan Midstream Partners LP | $ |
30.6 |
|
5.2 |
% |
||
| Enbridge Inc. | $ |
25.6 |
|
4.3 |
% |
||
| Energy Transfer LP | $ |
25.0 |
|
4.2 |
% |
||
$ |
354.5 |
|
59.7 |
% |
|||
| ** Subject to change at any time | |||||||
| *** Percent of Total Equity Investments | |||||||
During the month ended November 30, 2021, the Fund repurchased in the open market and retired 56,152 of its common shares under the stock repurchase plan for a total amount of $1,651,437.
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 indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).
This financial data is unaudited.
The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Form N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.
For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.
Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund.
Category: Financials
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005499/en/
Contacts
Investor Contact: Fund Investor Services 1-888-777-0102
