NXG - NXG NextGen Infrastructure Income Fund

What this means for you

One or more large investors own more than 5% of this fund but have told the regulator they are not seeking changes. That is common for banks, brokers and index funds that hold shares for their clients.

Nothing is required of you. If an investor changes its mind, it must file a new notice within days, and it will show up here.

Email me if this changes

What happened, and when

1. April 6, 2026

   The fund offered holders the right to buy more shares, until April 30, 2026.

   Original document →

2. April 6, 2026

   Sit Investment filed a notice about its stake, as a passive investor.

   Original document →

3. Jan 6, 2026

   Sit Investment cut its stake to 5.2% (from 11.2%), as a passive investor.

   Original document →

4. Dec 30, 2025

   The fund said it may sell new shares.

   Original document →

5. Sept 3, 2025

   Sit Investment raised its stake to 11.2% (from 2.5%), as a passive investor.

   Original document →

About this fund

• Run by Cushing Asset Management LP. Part of the Cushing fund family. As of Nov 30, 2025, from the fund's yearly report. Original document →
• Size: about $462 million of holdings, as of May 31, 2026. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 31% on top of its own money, as of May 31, 2026. Borrowed money makes gains and losses bigger. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.8% a year in management fees; 4.2% a year in total, including interest on borrowed money. Fiscal year ended Nov 30, 2025. As of Nov 30, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Nov 30, 2025) the fund paid $6.48 a share. $0.50 of that was income; $5.98 was your own money back, not income. As of Nov 30, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Nov 30, 2025): $50.52. The shares traded at $50.31, about 0.4% below that. As of Nov 30, 2025, from the fund's yearly report. Original document →
  Over the last two years the gap ranged from 11.3% below to 6.4% above. As of Nov 30, 2025, from the fund's annual report. Original document →
• How the holdings did: up 10.4% over the last three months we have (March-May 2026), before the share price is taken into account. Over the last 12 months: +39.8%. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
• How the share price did: the shares returned +7.9% over the last fiscal year (ended Nov 30, 2025), counting payouts and the change in the market price. As of Nov 30, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 2010.

What the fund holds

Almost all shares (100%). About 98% issued in the U.S.

The fund also sells options on its holdings to raise income.

1. NRG Energy - 6.4%
2. Vistra - 5.5%
3. Talen Energy - 5.4%
4. Argan - 5.2%
5. Quanta Services - 5.1%
6. Primoris Services - 5%
7. Bloom Energy - 4.9%
8. Constellation Energy - 4.9%
9. Palo Alto Networks - 4.9%
10. MasTec - 4.8%

As of May 31, 2026, from the fund's quarterly holdings report. Original document →