Company: SRV
Filing Date: 2025-02-10
Form Type: N-CSR
Source: 0001398344-25-002262
Chunk: 124

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-02-10
Form: N-CSR
Chunk 124
---
 1 |                                           $30,018,849 |
| Other accounts                   |                 16 |              $23,403,863 |                                               0 |                                                     0 |
| Todd Sunderland                  |                    |                          |                                                 |                                                       |
| Registered investment companies  |                  1 |           $1,197,804,922 |                                               0 |                                                   $ 0 |
| Other pooled investment vehicles |                  0 |                       $0 |                                               0 |                                                    $0 |
| Other accounts                   |                  0 |                       $0 |                                               0 |                                                     0 |

(iv) Conflicts of Interest with the Investment Adviser

Conflicts of interest may arise because the Investment
Adviser and its affiliates generally will be carrying on substantial investment activities for other Clients, including, but not limited
to, other investment vehicles for which the Adviser serves as investment adviser or general partner of such vehicles (the “Affiliated
Funds”), in which the registrant will have no interest. The Investment Adviser or its affiliates may have financial incentives to
favor certain of such accounts over the registrant. Any of the proprietary accounts of the Investment Adviser and its affiliates and other
customer accounts may compete with the registrant for specific trades. The Investment Adviser or its affiliates may buy or sell securities
for the registrant which differ from securities bought or sold for other accounts and customers, even though the investment objectives
and policies of the other accounts may be similar to the registrant’s. Situations may occur where the registrant could be disadvantaged
as a result of the investment activities conducted by the Investment Adviser and its affiliates for other accounts resulting in, among
other things, legal or internal restrictions on the combined size of positions that may be taken for the registrant and the other accounts,
limits on the size of the registrant’s position, or difficulty in liquidating an investment for the registrant and the other accounts
where the market cannot absorb the sale of the combined position. Notwithstanding these potential conflicts of interest, the Investment
Adviser, the registrant’s Board of Trustees and its officers have a fiduciary obligation to act in the registrant’s best interest.

The registrant’s investment opportunities may
be limited by potential affiliations of the Investment Adviser or its affiliates with MLPs and other natural resource companies. Additionally,
to the extent that the Investment Adviser sources and structures private investments in MLPs and other natural resource companies, certain
employees of the Investment Advis