SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. __)*
LMP Corporate Loan Fund, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
50208B100
--------------
(CUSIP Number)
W. Scott Jardine, Esq.
120 East Liberty Drive
Wheaton, Illinois 60187
630-765-8000
---------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
May 5, 2010
-----------------
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box [X].
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See 240.13d-7(b) for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
CUSIP No. 50208B100
1. Names of Reporting Persons. First Trust Portfolios L.P.
I.R.S. Identification Nos. of above persons (entities only).
36-3768815
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
3. SEC Use Only
4. Source of Funds (See Instructions)
WC
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e) [ ]
6. Citizenship or Place of Organization Illinois, U.S.A.
Number of 7. Sole Voting Power 0
Shares
Beneficially 8. Shared Voting Power 2,004,023
Owned by
Each
Reporting 9. Sole Dispositive Power 0
Person
With:
10. Shared Dispositive Power 2,004,023
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,004,023
12. Check box if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
13. Percent of Class Represented by Amount in Row (11) 20.2%
14. Type of Reporting Person (See Instructions) BD
CUSIP No. 50208B100
1. Names of Reporting Persons. First Trust Advisors L.P.
I.R.S. Identification Nos. of above persons (entities only).
36-3788904
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
3. SEC Use Only
4. Source of Funds (See Instructions)
WC
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e) [ ]
6. Citizenship or Place of Organization Illinois, U.S.A.
Number of 7. Sole Voting Power 0
Shares
Beneficially 8. Shared Voting Power 2,004,023
Owned by
Each
Reporting 9. Sole Dispositive Power 0
Person
With:
10. Shared Dispositive Power 2,004,023
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,004,023
12. Check box if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
13. Percent of Class Represented by Amount in Row (11) 20.2%
14. Type of Reporting Person (See Instructions) IA
CUSIP No. 50208B100
1. Names of Reporting Persons. The Charger Corporation
I.R.S. Identification Nos. of above persons (entities only).
36-3772451
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
3. SEC Use Only
4. Source of Funds (See Instructions)
WC
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e) [ ]
6. Citizenship or Place of Organization Illinois, U.S.A.
Number of 7. Sole Voting Power 0
Shares
Beneficially 8. Shared Voting Power 2,004,023
Owned by
Each
Reporting 9. Sole Dispositive Power 0
Person
With:
10. Shared Dispositive Power 2,004,023
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,004,023
12. Check box if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
13. Percent of Class Represented by Amount in Row (11) 20.2%
14. Type of Reporting Person (See Instructions) HC
Item 1. Security and Issuer
LMP Corporate Loan Fund, Inc.
Item 2. Identity and Background
First Trust Portfolios L.P., an Illinois limited partnership, is the
sponsor, distributor and principal underwriter unit investment trusts,
closed-end funds, mutual fund and exchange-traded funds (the "First
Trust Fund Complex"). Its principal address is 120 East Liberty Drive,
Suite 400, Wheaton, Illinois 60187.
First Trust Advisors L.P., an Illinois limited partnership, is the
investment advisor to the funds in the First Trust Fund Complex. Its
principal address is 120 East Liberty Drive, Suite 400, Wheaton,
Illinois 60187.
First Trust Portfolios L.P. and First Trust Advisors L.P. are each a
limited partnership with one general partner, The Charger Corporation.
The Charger Corporation is an Illinois corporation controlled by the
Robert Donald Van Kampen family. Its principal address is 120 East
Liberty Drive, Suite 400, Wheaton, Illinois 60187.
The Charger Corporation
The Judith M. Van Kampen Trust, Shareholder Judith M. Van Kampen,
Shareholder and Director Karla M. Van Kampen-Pierre, Shareholder and
Director Kristen Joy Wisen, Shareholder David G. Wisen, President and
Director Jerald A. Trannel - Senior Vice President and Director
Address for each should be :
The Charger Corporation 407 S. Third Street, Suite 230 Geneva, IL 60134
During the last five years, none of the Item 2 Persons has been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or has been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and as a
result of such proceeding was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
All purchases of LMP Corporate Loan Fund, Inc. common stock were made
using working capital. No other funds or consideration were used in
making such purchases.
Item 4. Purpose of Transaction
The Reporting Persons intend to hold the shares of Issuer's common
stock for investment purposes, and not for the purpose of acquiring
control of the Issuer.
The Reporting Persons intend to acquire additional shares of the
Issuer's common stock from time to time, provided such acquisition is
economical in the discretion of the Reporting Persons based on the
price of such shares.
The Reporting Persons have no plans or proposals which relate to or
would result in: (a) an acquisition by any person of additional
securities of the Issuer; (b) an extraordinary corporate transactions,
such as a merger, reorganization or liquidation, involving the Issuer
or any of its subsidiaries; (c) a sale or transfer of a material amount
of assets of the Issuer or any of its subsidiaries; (d) any change in
the present board of directors or management of the Issuer, including
any plans or proposals to change the term of directors or to fill any
existing vacancies on the board; (e) any material change in the present
capitalization or dividend policy of the Issuer; (f) any other material
change in the Issuer's business or corporate structure; (g) changes in
the Issuer's charter, bylaws or instruments corresponding thereto, or
other actions which may impede the acquisition of control of the Issuer
by any person; (h) causing a class of securities of the Issuer to be
delisted from a national securities exchange or cease to be authorized
to be quoted in an inter-dealer quotation system of a registered
national securities association; (i) a class of equity securities of
the Issuer becoming eligible for termination of registration pursuant
to Section 12(g)(4) of the Act; or (j) any action similar to any of
those enumerated above.
First Trust Portfolios L.P. is sponsor of several unit investment
trusts which hold shares of common stock of the issuer. No unit
investment trust sponsored by First Trust Portfolios L.P. holds more
than 3% of the issuer's common stock. First Trust Advisors L.P. is an
affiliate of First Trust Portfolios L.P. and acts as portfolio
supervisor of the unit investment trusts which hold shares of common
stock of the issuer. Individual unit investment trusts sponsored by
First Trust Portfolios L.P., which hold shares of the issuer, will sell
shares of the issuer to satisfy unit redemption requests, as required
under provisions of the Investment Company Act of 1940, as amended, or
pursuant to normal trust operations. In addition, First Trust Advisors
L.P. also acts as investment advisor to certain separately managed
accounts which hold shares of the issuer. First Trust Advisors L.P. may
sell shares of the issuer contained in such accounts. The Charger
Corporation is the general partner of both First Trust Portfolios L.P.
and First Trust Advisors L.P.
Item 5. Interest in Securities of the Issuer
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in
Item 1.
(a) Amount beneficially owned: 2,004,023
Percent of class: 20.2%
(b) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote
0.
(ii) Shared power to vote or to direct the vote
2,004,023.
(iii) Sole power to dispose or to direct the disposition of
0.
(iv) Shared power to dispose or to direct the disposition of
2,004,023.
(c) First Trust Portfolios L.P. and/or First Trust Advisors L.P.
entered into transactions in the common stock of the issuer within
the last sixty days as set forth on Schedule A. Each transaction
included on Schedule A was effected in the open market through
brokers. No other transactions in the common stock of the issuer
were effected in the last sixty days.
(d) No person other than the Reporting Persons is known to have the
right to receive, or the power to direct the receipt of dividends
from, or proceeds from the sale of, such shares of common stock.
(e) Not applicable.
Instruction. For computations regarding securities which represent a right to
acquire an underlying security see Sec. 204.13d-3(d)(1).
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer
There are no contracts, arrangements, understandings or relationships
between Reporting Persons and any of the persons identified in Item 2
with respect to any of the securities of the Issuer.
Item 7. Materials to be Filed as Exhibits
None.
SCHEDULE A
Date of Price per Shares
Transaction Share Purchased
3/8/2010 $11.02 15,001
3/8/2010 11.04 1,350
3/9/2010 10.95 1,966
3/9/2010 10.9956 14,147
3/10/2010 10.95 2,658
3/10/2010 10.99847 1,821
3/11/2010 11.05 2,546
3/12/2010 11.04 2,009
3/12/2010 11.13508 957
3/15/2010 11.1 2,958
3/16/2010 11.1 2,246
3/16/2010 11.1024 1,182
3/17/2010 11.09 3,021
3/18/2010 11.07 2,464
3/18/2010 11.0839 1,027
3/19/2010 11.11 2,783
3/22/2010 11.11 3,677
3/23/2010 11.1088 8,101
3/23/2010 11.11 3,587
3/24/2010 11.08 2,294
3/24/2010 11.1045 10,737
3/24/2010 11.1126 20,784
3/25/2010 11.2 1,713
3/25/2010 11.2615 19,900
3/26/2010 11.3 2,904
3/26/2010 11.306 36,810
3/29/2010 11.25 965
3/29/2010 11.3005 33,355
3/30/2010 11.2923 9,306
3/30/2010 11.3189 23,082
3/30/2010 11.32 2,007
3/31/2010 11.24 1,696
3/31/2010 11.2961 15,729
3/31/2010 11.3048 12,416
4/1/2010 11.29 2,294
4/1/2010 11.2974 27,440
4/1/2010 11.3128 6,213
4/5/2010 11.31 3,461
4/5/2010 11.3128 29,915
4/6/2010 11.299 10,520
4/6/2010 11.3045 22,717
4/6/2010 11.34 1,102
4/6/2010 11.3427 885
4/7/2010 11.25 1,723
4/7/2010 11.2997 13,330
4/7/2010 11.2998 17,172
4/7/2010 11.2985 180
4/8/2010 11.2985 20
4/8/2010 11.34 20
4/8/2010 11.34 20
4/8/2010 11.34 20
4/8/2010 11.34 195
4/8/2010 11.34 20
4/8/2010 11.34 20
4/8/2010 11.34 20
4/8/2010 11.34 30
4/8/2010 11.33 20
4/8/2010 11.34 20
4/8/2010 11.34 40
4/8/2010 11.34 145
4/8/2010 11.34 35
4/8/2010 11.34 35
4/8/2010 11.34 90
4/8/2010 11.34 20
4/8/2010 11.34 20
4/8/2010 11.34 30
4/8/2010 11.34 20
4/8/2010 11.34 105
4/8/2010 11.34 35
4/8/2010 11.34 25
4/8/2010 11.34 80
4/8/2010 11.34 20
4/8/2010 11.34 100
4/8/2010 11.34 30
4/8/2010 11.3358 13,100
4/8/2010 11.34 1,811
4/9/2010 11.41 1,598
4/9/2010 11.4852 29,900
4/12/2010 11.4929 40,546
4/12/2010 11.5 737
4/13/2010 11.34 275
4/13/2010 11.5 330
4/13/2010 11.5 1,672
4/13/2010 11.5549 27,816
4/14/2010 11.58 1,153
4/14/2010 11.593 35,890
4/15/2010 11.57 3,285
4/15/2010 11.5712 34,452
4/15/2010 11.5 300
4/16/2010 11.57 1,043
4/16/2010 11.5727 46,978
4/19/2010 11.57 3,057
4/19/2010 11.571 10,362
4/19/2010 11.5829 28,723
4/19/2010 11.55 270
4/20/2010 11.57 1,694
4/20/2010 11.5867 19,091
4/21/2010 11.5964 24,725
4/21/2010 11.6 1,689
4/22/2010 11.62 1,898
4/22/2010 11.6316 23,278
4/23/2010 11.68 1,001
4/23/2010 11.7165 50,371
4/26/2010 11.84 1,476
4/26/2010 11.8538 22,487
4/27/2010 11.89 1,912
4/27/2010 11.8913 33,162
4/28/2010 11.99 1,917
4/28/2010 11.9973 39,058
4/29/2010 12.05 1,715
4/29/2010 12.089 32,714
4/29/2010 11.58 260
4/30/2010 12.1429 73,832
4/30/2010 12.18 2,618
5/3/2010 12.2211 42,824
5/3/2010 12.3 1,634
5/4/2010 12.2071 72,190
5/4/2010 12.28 2,403
5/4/2010 12.05 285
5/5/2010 12.1 185
5/5/2010 11.9732 35,451
5/5/2010 12 1,360
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
FIRST TRUST PORTFOLIOS L.P.
Date: May 7, 2010
By: /s/ James A. Bowen
-------------------------
James A. Bowen, President
FIRST TRUST ADVISORS, L.P.
Date: May 7, 2010
By: /s/ James A. Bowen
-------------------------
James A. Bowen, President
THE CHARGER CORPORATION
Date: May 7, 2010
By: /s/ James A. Bowen
-----------------------------------------
James A. Bowen, Senior Vice President