ClearBridge MLP and Midstream:CEM

    Manage Alerts

    Overview

    As of 3/24/2023

     Share
    Price    		NAVPremium/
    Discount
    Current$30.05$35.88-16.25%
    52 Wk Avg$33.51$39.92-16.07%
    52 Wk High$37.99$45.66-12.21%
    52 Wk Low$26.40$32.98-21.41%
    Regular Distribution Type†Income Only
    Distribution Rate8.39%
    Distribution Amount$0.6300
    Distribution FrequencyQuarterly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund’s investment objective is to provide a high level of total return with an emphasis on cash distributions. The Fund seeks to achieve its objective by investing primarily in energy master limited partnerships and energy midstream entities. Under normal market conditions, the Fund invests at least 80% of its managed assets in energy MLPs and energy midstream entities. The Fund may also invest up to 20% of its managed assets in other securities that are not MLPs or midstream entities.

    Capital Structure

    As of 3/24/2023

    Total Investment Exposure:$725.769M
    Total Common Assets:$477.929M
    Common Shares Outstanding:13,320,195
    Leverage

    As of 3/24/2023

    Preferred Share Assets: $38.180M
    Total Debt (USD): $209.660M
    Regulatory Leverage (USD): $247.840M
    Effective Leverage (USD): $247.840M
    Effective Leverage (%): 34.15%
    Annual Expense Ratios

    As of 11/30/2022

      Per Common Share
    Management Fees1.42%
    Other Expenses:0.84%
    Baseline Expense: N/A
    Interest Expense:1.04%
    Total: 3.31%
    Fund Management

    Fund Sponsor
    ClearBridge

    Portfolio Managers
    Peter Vanderlee, Chris Eades, Michael Clarfeld

    Basics
    Category: Equity-MLP
    Ticker: CEM
    NAV Ticker: XCEMX
    Average Daily Volume (shares): 57,611
    Average Daily Volume (USD): $1.916M
    Inception Date: 6/25/2010
    Inception Share Price: $20.00
    Inception NAV: $19.07
    Tender Offer: No
    Term: No
    Fiscal Year End: November 30
    Third Party Links & Reports

    Distributions

    As of 3/24/2023

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    to
    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions†
    Avg. Earnings Per Share:
    As of 11/30/2022
    Annualized Distribution Rate on NAV:
    As of 3/24/2023    		7.02%
    Total Return on NAV (12 months):
    As of 3/24/2023    		9.17%
    Total % Portfolio Effectively Leveraged:
    As of 3/24/2023     		34.15%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 3/27/2023

    PeriodAvg Discount
    6 Month-15.06%
    1 Year-16.07%
    3 Year-16.83%
    5 Year-13.41%
    Z-Score

    As of 3/24/2023

    PeriodZStat
    3 Month-1.77
    6 Month-1.15
    1 Year-0.13
    Pricing History
     from  
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 2/28/2023
    Category: Morningstar US CEF MLP

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD4.79%2.32%4.32%0.42%
    202232.77%28.71%25.20%21.74%
    202172.88%64.03%56.43%44.11%
    2020-66.71%-62.99%-61.23%-56.67%
    201919.97%17.64%17.37%14.66%
    2018-24.69%-17.55%-22.71%-17.74%
    20177.85%-0.75%-0.99%-6.10%
    201613.17%17.35%34.01%32.63%
    2015-40.71%-39.68%-44.56%-43.51%
    20147.45%11.53%4.09%6.22%
    201325.45%28.34%20.35%29.75%
    20129.56%7.72%9.61%3.20%
    20119.14%10.86%4.04%11.85%
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 2/28/2023
    Category: Morningstar US CEF MLP

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Number of Holdings:
    As of 1/31/2023    		28
    Annual Portfolio Turnover:
    As of 11/30/2022    		53.00%
    Asset Allocation

    As of 1/31/2023

    Top Sectors

    As of 1/31/2023

    Sector%Portfolio
    Energy93.87%
    Sensitive (Super Sector)93.87%
    Utilities4.26%
    Defensive (Super Sector)4.26%
    Basic Materials1.31%
    Cyclical (Super Sector)1.31%
    Cash Equivalents0.55%
    Cash Equivalents (Super Sector)0.55%
    Top Holdings

    As of 1/31/2023

    HoldingValue% Portfolio
    MPLX LP Partnership Units$67.02M8.42%
    Energy Transfer LP$66.64M8.37%
    Enterprise Products Partners LP$63.48M7.98%
    Western Midstream Partners LP$57.49M7.22%
    Magellan Midstream Partners LP$46.05M5.79%
    Targa Resources Corp$43.08M5.41%
    Williams Companies Inc$40.95M5.14%
    ONEOK Inc$37.33M4.69%
    Plains All American Pipeline LP$35.57M4.47%
    Plains GP Holdings LP Class A$35.28M4.43%
    Country Allocation

    As of 1/31/2023

    Country% Portfolio
    United States - Equity92.29%
    Canada - Equity7.16%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    † Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    EWB-2036301PR-E0222X

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