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Trending ETFs

Center Coast Brookfield Midstream Focus Fund

mutual fund
CCCAX
Payout Change
Pending
Price as of:
$6.3 +0.12 +1.94%
primary theme
MLP Industry Equity
share class
C (CCCCX) I (CCCNX) A (CCCAX)
CCCAX (Mutual Fund)

Center Coast Brookfield Midstream Focus Fund

Payout Change
Pending
Price as of:
$6.3 +0.12 +1.94%
primary theme
MLP Industry Equity
share class
C (CCCCX) I (CCCNX) A (CCCAX)
CCCAX (Mutual Fund)

Center Coast Brookfield Midstream Focus Fund

Payout Change
Pending
Price as of:
$6.3 +0.12 +1.94%
primary theme
MLP Industry Equity
share class
C (CCCCX) I (CCCNX) A (CCCAX)

Name

As of 12/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Center Coast Brookfield Midstream Focus Fund

CCCAX | Fund

$6.30

$1.22 B

5.81%

$0.36

1.54%

Vitals

YTD Return

41.4%

1 yr return

42.3%

3 Yr Avg Return

25.5%

5 Yr Avg Return

11.6%

Net Assets

$1.22 B

Holdings in Top 10

82.0%

52 WEEK LOW AND HIGH

$6.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.54%

SALES FEES

Front Load 4.75%

Deferred Load N/A

TRADING FEES

Turnover 48.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Center Coast Brookfield Midstream Focus Fund

CCCAX | Fund

$6.30

$1.22 B

5.81%

$0.36

1.54%

CCCAX - Profile

Distributions

  • YTD Total Return 41.4%
  • 3 Yr Annualized Total Return 25.5%
  • 5 Yr Annualized Total Return 11.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.20%
DIVIDENDS
  • Dividend Yield 5.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Center Coast Brookfield Midstream Focus Fund
  • Fund Family Name
    Brookfield Fund Complex
  • Inception Date
    Dec 31, 2010
  • Shares Outstanding
    57605550
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joe Herman

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets (including amounts borrowed for investment purposes) in a portfolio of master limited partnerships (“MLPs”) and in other investments that have economic characteristics similar to such securities (collectively, “Midstream Investments”) (the “80% Policy”). The Fund’s Midstream Investments may include, but are not limited to, investments that have economic characteristics similar to MLPs in the form of common units issued by MLPs, preferred and convertible subordinated units of MLPs, securities that are derivatives of interests in MLPs, including equity securities of “MLP affiliates,” which the Adviser defines as entities issuing MLP I-shares, securities of entities holding primarily general partner or managing member interests in MLPs, MLPs that are taxed as “C” corporations, and other entities that operate like MLPs and have economic characteristics like MLPs but are organized and taxed as “C” corporations or organized as limited liability companies. While the number of its holdings may vary based upon market conditions and other factors, the Fund intends to invest in a focused portfolio of approximately 15 to 40 high quality Midstream Investments that the Adviser believes will have strong risk adjusted returns and stable and growing cash distributions. The Fund concentrates (i.e., invests more than 25% of its total assets) in securities of companies in the energy infrastructure industry and the energy industry, and the Fund intends to make the majority of its investments in “midstream” securities. Midstream Investments encompass a wide range of companies engaged in the energy infrastructure industry and include companies engaged in midstream activities, such as the treatment, gathering, compression, processing, transportation, transmission, fractionation, storage and terminalling of natural gas, natural gas liquids, crude oil and refined products, as well as other energy infrastructure companies including electrical transmission companies and utilities, and companies engaged in owning, storing and transporting alternative energy sources, such as renewables (e.g., wind, solar, hydrogen, geothermal, biomass). The Fund may invest in securities of Midstream Investments and other issuers that have smaller capitalizations than issuers whose securities are included in major benchmark indices, such as the S&P 500.
In addition, the Fund may invest up to 20% of its total assets in non-Midstream Investments, including debt securities of any issuers, including such securities which may be rated below investment grade (“junk bonds”) by a nationally recognized statistical rating organization (“NRSRO”) or determined by the Adviser to be of comparable credit quality. The Fund will not have any duration or weighted average maturity restrictions. The
Fund may also invest up to 15% of net assets in illiquid securities, and may write call options on securities that are held in the portfolio (i.e., covered calls). The Fund may, but is not required to, use derivative instruments to seek to generate return, facilitate portfolio management and mitigate risks. The Fund may invest in other investment companies to the extent permitted by the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund may invest in permissible securities without regard to the market capitalization of the issuer of such security.
The Fund may change the 80% Policy without shareholder approval. The Fund will provide shareholders with written notice at least 60 days prior to the implementation of any such changes. The Fund is non-diversified which means it may focus its investments in a limited number of issuers.
The Fund’s adviser, Brookfield Public Securities Group LLC (the “Adviser”), seeks to identify a portfolio of high quality Midstream Investments. In managing the Fund’s assets, the Adviser uses a disciplined investment process focused on due diligence from the perspective of an MLP owner, operator and acquirer.
•
The Adviser first establishes a universe of high quality Midstream Investments (i.e., Midstream Investments with strong risk adjusted returns and stable and growing cash distributions) utilizing a proprietary multifactor model, and then strategically weights those companies using financial and valuation analysis centered on quantitative factors including cash flow, yield and relative valuation to establish a valuation target.
​
•
Next, the Adviser evaluates asset quality, considering factors such as contract structure, operating risk, competitive environment and growth potential. The Adviser also assesses management quality, drawing on its previous experience with many of the Midstream Investments’ management teams to evaluate their financial discipline, level of general partner support, operational expertise, strength of their business plans and ability to execute those plans. The Adviser also includes in the diligence process an assessment of the trading dynamics of the securities issued by the Midstream Investments and other issuers, including liquidity, identification of fund flow from institutional investors with large holdings in the Midstream Investments and other issuers, equity overhang (i.e., the difference between funds raised and funds invested) and float (i.e., the number of a company’s shares issued and available to be traded by the general public).
​
•
The Adviser then ranks, weights and invests in Midstream Investments based on its assessment of the durability of their cash flows, relative market valuation and growth potential.
​
The Adviser generally sells an investment if it determines that the characteristics that resulted in the original purchase decision have changed materially, the investment is no longer earning a return commensurate with its risk, the Adviser identifies other investments with more attractive valuations and return characteristics, or the Fund requires cash to meet redemption requests.
The Fund is not managed to meet the pass-through requirements of Subchapter M of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), which would restrict the Fund’s ability to fully invest in MLPs. As a result, unlike traditional open-end mutual funds, the Fund generally is subject to U.S. federal income tax on its taxable income at the federal tax rate applicable to corporations (currently 21%) and is subject to state and local income tax.
Master Limited Partnerships.   An MLP is an entity treated as a partnership under the Code, the partnership interests or “units” of which are traded on securities exchanges like shares of corporate stock. To qualify for tax treatment as a partnership, an MLP must receive at least 90% of its gross income from qualifying sources as set forth in the Code. These qualifying sources include, income and gain from certain mineral or natural resources activities, income and gain from the transportation or storage of certain fuels, and, in certain circumstances, income and gain from commodities or futures, forwards and options with respect to commodities, as well as interest dividends, real estate rents, gain from the sale or disposition or real property. Additional information on MLPs and MLP I-shares (“I-Shares”), which represent ownership interests issued by MLP affiliates, can be found in the section entitled “Additional Information About The Fund’s Investment Objective, Investment Strategies, and Related Risks.”
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CCCAX - Performance

Return Ranking - Trailing

Period CCCAX Return Category Return Low Category Return High Rank in Category (%)
YTD 41.4% 7.4% 43.2% 10.00%
1 Yr 42.3% 8.2% 44.9% 9.00%
3 Yr 25.5%* 7.9% 39.0% 57.29%
5 Yr 11.6%* -2.3% 35.7% 83.16%
10 Yr 2.6%* -4.4% 12.6% 70.49%

* Annualized

Return Ranking - Calendar

Period CCCAX Return Category Return Low Category Return High Rank in Category (%)
2023 10.3% -14.9% 18.2% 36.27%
2022 9.2% -7.0% 29.9% 87.76%
2021 29.4% 4.2% 42.7% 54.08%
2020 -45.2% -57.4% 155.1% 91.75%
2019 -3.2% -8.9% 18.9% 83.91%

Total Return Ranking - Trailing

Period CCCAX Return Category Return Low Category Return High Rank in Category (%)
YTD 41.4% 7.4% 43.2% 10.00%
1 Yr 42.3% 8.2% 44.9% 9.00%
3 Yr 25.5%* 7.9% 39.0% 57.29%
5 Yr 11.6%* -2.3% 35.7% 83.16%
10 Yr 2.6%* -4.4% 12.6% 70.49%

* Annualized

Total Return Ranking - Calendar

Period CCCAX Return Category Return Low Category Return High Rank in Category (%)
2023 17.8% -9.3% 25.5% 37.25%
2022 15.3% -1.2% 38.8% 88.78%
2021 40.1% 14.5% 56.2% 37.76%
2020 -35.9% -53.9% 155.1% 91.75%
2019 2.4% -3.4% 22.4% 93.10%

NAV & Total Return History

CCCAX - Holdings

Concentration Analysis

CCCAX Category Low Category High CCCAX % Rank
Net Assets 1.22 B 22 M 53.1 B 28.70%
Number of Holdings 19 17 89 95.10%
Net Assets in Top 10 849 M 23.7 M 3.63 B 28.43%
Weighting of Top 10 82.04% 39.1% 116.1% 31.37%

Top 10 Holdings

  1. MPLX LP 13.29%
  2. Energy Transfer LP 13.27%
  3. Enterprise Products Partners LP 11.73%
  4. Williams Cos Inc/The 8.34%
  5. ONEOK Inc 7.46%
  6. Cheniere Energy Inc 6.58%
  7. Plains All American Pipeline LP 5.99%
  8. TC Energy Corp 5.20%
  9. Western Midstream Partners LP 5.19%
  10. Targa Resources Corp 4.99%

Asset Allocation

Weighting Return Low Return High CCCAX % Rank
Stocks 		102.05% 53.33% 136.34% 36.27%
Cash 		0.21% 0.00% 13.09% 78.43%
Preferred Stocks 		0.00% 0.00% 2.23% 100.00%
Other 		0.00% -36.30% 5.12% 90.20%
Convertible Bonds 		0.00% 0.00% 5.29% 100.00%
Bonds 		0.00% 0.00% 40.73% 100.00%

Stock Sector Breakdown

Weighting Return Low Return High CCCAX % Rank
Energy 		97.87% 53.73% 100.00% 27.45%
Utilities 		2.13% 0.00% 41.78% 63.73%
Technology 		0.00% 0.00% 2.43% 100.00%
Real Estate 		0.00% 0.00% 0.00% 100.00%
Industrials 		0.00% 0.00% 4.54% 100.00%
Healthcare 		0.00% 0.00% 0.00% 100.00%
Financial Services 		0.00% 0.00% 0.66% 100.00%
Communication Services 		0.00% 0.00% 0.00% 100.00%
Consumer Defense 		0.00% 0.00% 0.82% 100.00%
Consumer Cyclical 		0.00% 0.00% 1.07% 100.00%
Basic Materials 		0.00% 0.00% 6.40% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High CCCAX % Rank
US 		98.86% 48.92% 136.34% 40.20%
Non US 		3.18% 0.00% 39.30% 49.02%

CCCAX - Expenses

Operational Fees

CCCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.54% 0.35% 8.81% 64.36%
Management Fee 1.00% 0.35% 1.38% 68.52%
12b-1 Fee 0.25% 0.00% 1.00% 53.45%
Administrative Fee N/A 0.04% 0.15% 100.00%

Sales Fees

CCCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.75% 4.50% 5.75% 95.00%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

CCCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CCCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.00% 6.00% 166.00% 67.71%

CCCAX - Distributions

Dividend Yield Analysis

CCCAX Category Low Category High CCCAX % Rank
Dividend Yield 5.81% 0.00% 15.34% 40.74%

Dividend Distribution Analysis

CCCAX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Quarterly Quarterly

Net Income Ratio Analysis

CCCAX Category Low Category High CCCAX % Rank
Net Income Ratio 0.20% -2.83% 5.84% 46.53%

Capital Gain Distribution Analysis

CCCAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

CCCAX - Fund Manager Analysis

Managers

Joe Herman

Start Date

Tenure

Tenure Rank

Jan 28, 2021

1.34

1.3%

Joe Herman has 11 years of industry experience and is a Portfolio Manager on the Public Securities Group’s Energy Infrastructure Securities team. He is responsible for conducting MLP and infrastructure research and analysis. Prior to joining the firm in 2014, he was an Equity Research Associate with Tudor, Pickering, Holt & Co., focusing on midstream and MLPs. Prior to that, he was an Investment Banking Analyst at UBS Investment Bank. Joe earned a Bachelor of Business Administration degree with majors in Business Honors and Finance and a Bachelor of Arts degree with majors in Plan II Honors and History from The University of Texas at Austin.

Boran Buturovic

Start Date

Tenure

Tenure Rank

Jan 28, 2021

1.34

1.3%

Boran Buturovic has 12 years of industry experience and is a Portfolio Manager on the Public Securities Group’s Energy Infrastructure Securities team. He is responsible for conducting MLP and infrastructure research and analysis. Prior to joining the firm in 2014, he was an Associate with UBS Investment Bank, focusing on midstream and MLPs. Boran started his career with Ernst & Young in their Assurance practice. Boran holds a CPA license in the state of Texas and he earned Bachelor of Business Administration and Master in Professional Accounting degrees from The University of Texas at Austin.

Tom Miller

Start Date

Tenure

Tenure Rank

Jan 28, 2022

0.34

0.3%

Tom Miller is a Director on the Public Securities Group’s Infrastructure Securities team. Before focusing on his portfolio manager duties, he was responsible for covering North American infrastructure securities focusing on MLPs and the Energy Infrastructure sector.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 15.78 7.75 12.18

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