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 September 30, 2020.
As of September 30, 2020, the Fund’s net assets were $201.5 million, and its net asset value per share was $14.46.
The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 437% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 254%.
|As of September 30, 2020|
|Amount (millions)||Per Share|
|Cash and Cash Equivalents|
|Mandatory Redeemable Preferred Shares*|
|Income Tax Payable|
|Deferred Tax Liability|
|* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 437%.|
|* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 254%.|
|Top Ten Equity Holdings (as of September 30, 2020)**|
|Name||(millions)||% of Investments||***|
|Enterprise Products Partners LP|
|Energy Transfer LP|
|Magellan Midstream Partners LP|
|Williams Cos. Inc.|
|Kinder Morgan Inc.|
|DCP Midstream LP|
|Targa Resources Corp.|
|** Subject to change at any time|
|*** Percent of Total Equity Investments|
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 Franklin Resources, Inc. (“Franklin Resources”).
On July 31, 2020, Franklin Resources acquired Legg Mason, Inc. (“Legg Mason”) in an all-cash transaction. As a result of the transaction, LMPFA and ClearBridge, previously wholly-owned subsidiaries of Legg Mason, became wholly-owned subsidiaries of 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.lmcef.com. 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.
Source: Franklin Resources, Inc.