Company: SRV
Filing Date: 2025-01-14
Form Type: 424B2
Source: 0001398344-25-000635
Chunk: 2

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-01-14
Form: 424B2
Chunk 2
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 the accompanying Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

<div align='center'>This Prospectus Supplement is dated
January 13, 2025.</div>

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Investment Strategy. The Fund seeks to achieve
its investment objective by investing, under normal conditions, at least 80% of its Managed Assets (as defined in the accompanying Prospectus)
in a portfolio of midstream energy investments (the “80% policy”). For purposes of the Fund’s 80% policy, the Fund considers
midstream energy investments to be investments that offer economic exposure to securities of midstream energy companies, which are companies
that provide midstream energy services, including the gathering, transporting, processing, fractionation, storing, refining and distribution
of natural resources, such as natural gas, natural gas liquids, crude oil refined petroleum products, biofuels, carbon sequestration,
solar, and wind. The Fund considers a company to be a midstream energy company if at least 50% of its assets, income, sales or profits
are committed to or derived from midstream energy services.

The Fund has previously qualified, and intends to continue
to qualify, to be treated as a regulated investment company (“RIC”) under the Internal Revenue Code of 1986, as amended (the
“Code”). The Fund pursues its investment objective by generally investing in master limited partnerships (“MLPs”)
up to the maximum extent permitted of a RIC under the Code. Accordingly, the Fund will, as of the end of each fiscal quarter, invest no
more than 25% of Managed Assets in securities of MLPs and other entities that are “qualified publicly traded partnerships”
under the Code.

The Fund invests in equity and debt securities of midstream
energy companies, and invests in U.S. and non-U.S. securities and in issuers of any market capitalization size.

As an alternative to holding investments directly,
the Fund may obtain investment exposure through derivatives transactions intended to replicate, modify or replace the economic attributes
associated with investment in securities in which the Fund is permitted to invest directly. To the extent that the Fund invests in synthetic
investments with economic characteristics similar to investments in midstream energy companies, the market value (or, if market value
is unavailable, the fair value) of such investments will be counted for purposes of the Fund’s policy of investing at least 80%
of its Managed Assets in a portfolio of midstream energy investments.