SCHEDULE: Corebridge Financial Amends Significant Stake in ClearBridge Energy Midstream Fund

Corebridge Financial, Inc. has filed an amendment to its Schedule 13G, disclosing a 15.1% beneficial ownership stake in ClearBridge Energy Midstream Opportunity Fund Inc. through its subsidiary.

Summary

• Corebridge Financial, Inc. (CRBG) filed an Amendment No. 3 to its Schedule 13G regarding its beneficial ownership in ClearBridge Energy Midstream Opportunity Fund Inc.
• CRBG, incorporated in Delaware, reported beneficial ownership of 294,286 shares of Mandatory Redeemable Preferred Stock.
• This ownership represents 15.1% of the class of securities.
• CRBG holds shared voting power and shared dispositive power over all 294,286 shares, with no sole voting or dispositive power.
• The shares are held by American General Life Insurance Company, an indirect wholly owned subsidiary of CRBG, which is classified as an insurance company.
• The securities include Series J, L, M, P, Q, and R Mandatory Redeemable Preferred Stock, which collectively form a single class.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: This is a routine beneficial ownership disclosure (Schedule 13G amendment) and does not inherently convey positive or negative sentiment regarding the issuer's or reporting person's performance or outlook.

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, mitigating a common risk associated with large beneficial ownership stakes.

Future Outlook

NA

Industry Context

This filing represents a routine disclosure of a significant ownership stake by an insurance holding company in an energy midstream opportunity fund, common for institutional investors managing diversified portfolios.

Related Party Transactions

• The beneficial ownership is held by American General Life Insurance Company, an indirect wholly owned subsidiary of Corebridge Financial, Inc.

Stakeholder Impact

• Provides transparency to shareholders and the market regarding a significant ownership stake held by Corebridge Financial, Inc. in ClearBridge Energy Midstream Opportunity Fund Inc.

Key Dates

Keywords

Corebridge Financial, ClearBridge Energy Midstream Opportunity Fund, Schedule 13G, Beneficial Ownership, Preferred Stock, Mandatory Redeemable Preferred Stock, Investment Fund, Insurance Company