Company: SRV
Filing Date: 2025-08-08
Form Type: N-CSRS
Source: 0001398344-25-014835
Chunk: 10

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-08-08
Form: N-CSRS
Chunk 10
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|:-----------|------------:|:--|
| First American Government Obligations Fund - Class X, 4.23%(1)(5)   |     |        | 381,067 |     | $          |     381,067 |   |
| First American Treasury Obligations Fund - Class X, 4.23%(1)(5)     |     |        | 381,067 |     |            |     381,067 |   |
| Total Short-Term Investments - Investment Companies (Cost $762,134) |     |        |         |     | $          |     762,134 |   |
| Total Investments — 133.7% (Cost $229,043,159)                      |     |        |         |     | $          | 241,325,055 |   |
| Liabilities in Excess of Other Assets - (33.7)%                     |     |        |         |     |            | (60,787,792 | ) |
| Net Assets Applicable to Common Stockholders — 100.0%               |     |        |         |     | $          | 180,537,263 |   |

| (1) | All or a portion of these securities are held as collateral pursuant to the loan agreements. |

| (2) | No distribution or dividend was made during the period ended May 31, 2025. As such, it is classified as a non-income producing security as of May 31, 2025. |

| (3) | Foreign issued security. Foreign concentration is as follows: Canada 15.70%. |

| (4) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “qualified institutional buyers.” These securities have been deemed to be liquid by the Fund’s adviser under the supervision of the Board of Trustees. As of May 31, 2025, the value of these investments was $2,871,980 or 1.59% of total net assets. |

| (5) | Rate reported is the current yield as of May 31, 2025. |

<div align='center'>See Accompanying Notes to the Financial Statements.

10</div>

| Assets                                                                                                                           |     |   |             |
|:---------------------------------------------------------------------------------------------------------------------------------|:----|:--|------------:|
| Investments, at fair value (cost