# EDGAR Filing Document

**Accession Number:** 0001716909
**File Stem:** 0001145549-23-002816
**Filing Date:** 2023-1
**Character Count:** 19637
**Document Hash:** 9b60c6b70f3d12d46660624d4310f5b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-002816.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001145549-23-002816

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**PERIOD START**: 20221130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cushing Mutual Funds Trust
- **CENTRAL INDEX KEY:** 0001716909
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23293
- **FILM NUMBER:** 23555675

**BUSINESS ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT, SUITE 1700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** (214) 692-6334

**MAIL ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT, SUITE 1700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

## Series and Classes Contracts Data

### NXG NextGen Infrastructure Fund (Series ID: S000059737)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000195512 | Class A Shares | NXGAX           |
| C000195513 | Class C Shares | PCPEX           |
| C000195514 | Class I Shares | NXGNX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Cushing Mutual Funds Trust

- **b. Investment Company Act file number:** 811-23293

- **c. CIK number of Registrant:** 0001716909

- **d. LEI of Registrant:** 549300E1MZ7EMSSQ2C69

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 600 North Pearl Street

  - **City:** Dallas

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 75201

  - **Telephone number:** 214-692-6334

**Item A.2. Information about the Series.**

- **a. Name of Series:** Cushing NextGen Infrastructure Fund

- **b. EDGAR series identifier (if any):** S000059737

- **c. LEI of Series:** 5493006NXITDSHOHUT03

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-11-30

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $25758276.63

**Total Liabilities:** $142962.31

**Net Assets:** $25615314.32

**Cash Not Reported:** $40831.33

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000195512 | -12.99%              | 0.32%                | 13.30%               |
| Class ID C000195514 | -12.93%              | 0.31%                | 13.31%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-227910.55              | $-3176093.01                               |
| Month 2  | $-90454.56               | $180748.86                                 |
| Month 3  | $366034.95               | $2665860.58                                |

### Schedule of Portfolio Investments

| Name                           | Title                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Altus Power Inc                | Altus Power Inc                            | CUSIP: 02217A102<br>LEI: 5493005V83PBRWNLK259 | Long             | EC               | CORP              | US        |     74104 | NS      | $529843.60    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameresco Inc                   | Ameresco Inc                               | CUSIP: 02361E108<br>LEI: 529900NZXZGBCBXYY327 | Long             | EC               | CORP              | US        |      5964 | NS      | $390761.28    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp            | American Tower Corp                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      3725 | NS      | $824156.25    | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ChargePoint Holdings Inc       | ChargePoint Holdings Inc                   | CUSIP: 15961R105<br>LEI: 254900DVN9TAC2GIPG25 | Long             | EC               | CORP              | US        |     17000 | NS      | $211140.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy Inc                        | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      2500 | NS      | $438400.00    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Chindata Group Holdings Ltd    | Chindata Group Holdings Ltd                | CUSIP: 16955F107<br>LEI: 655600DHYORMZZMVIW64 | Long             | EC               | CORP              | CN        |     40428 | NS      | $289464.48    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Crestwood Equity Partners LP   | Crestwood Equity Partners LP               | CUSIP: 226344208<br>LEI: 549300CUY0F1TYDLDL45 | Long             | EC               | CORP              | US        |     31006 | NS      | $918397.72    | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc               | Crown Castle Inc                           | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      2742 | NS      | $387801.06    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc       | Digital Realty Trust Inc                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      3600 | NS      | $404856.00    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP             | Energy Transfer LP                         | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |    100000 | NS      | $1254000.00   | 4.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc             | Enphase Energy Inc                         | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      1200 | NS      | $384708.00    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitrans Midstream Corp       | Equitrans Midstream Corp                   | CUSIP: 294600101<br>LEI: 549300RH0NLJNZ5SXU64 | Long             | EC               | CORP              | US        |     28000 | NS      | $234920.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| FTC Solar Inc                  | FTC Solar Inc                              | CUSIP: 30320C103<br>LEI: 5493009MODNZ2HMPX761 | Long             | EC               | CORP              | US        |    101995 | NS      | $216229.40    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund   | CUSIP: 31846V328<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    455333 | NS      | $455332.78    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    455333 | NS      | $455332.79    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluence Energy Inc             | Fluence Energy Inc                         | CUSIP: 34379V103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17698 | NS      | $304051.64    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GDS Holdings Ltd               | GDS Holdings Ltd                           | CUSIP: 36165L108<br>LEI: 391200MGV8DDCHTN2R77 | Long             | EC               | CORP              | CN        |     35500 | NS      | $564450.00    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                        | MPLX LP                                    | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Long             | EC               | CORP              | US        |     19098 | NS      | $649141.02    | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Partners LP     | NextEra Energy Partners LP                 | CUSIP: 65341B106<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | EC               | CORP              | US        |      9700 | NS      | $780753.00    | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NextDecade Corp                | NextDecade Corp                            | CUSIP: 65342K105<br>LEI: 549300XB4GCLNGHFTT48 | Long             | EC               | CORP              | US        |     25000 | NS      | $135750.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                      | ONEOK Inc                                  | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      4000 | NS      | $267680.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Plains All American Pipeline L | Plains All American Pipeline LP            | CUSIP: 726503105<br>LEI: 5521FA2ITF25TVH63740 | Long             | EC               | CORP              | US        |     20000 | NS      | $248400.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Plug Power Inc                 | Plug Power Inc                             | CUSIP: 72919P202<br>LEI: 549300JPDKRSJ8JSM954 | Long             | EC               | CORP              | US        |     53875 | NS      | $859845.00    | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp        | SBA Communications Corp                    | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |       896 | NS      | $268172.80    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoals Technologies Group Inc  | Shoals Technologies Group Inc              | CUSIP: 82489W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13422 | NS      | $388835.34    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SolarEdge Technologies Inc     | SolarEdge Technologies Inc                 | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | IL        |      3250 | NS      | $971295.00    | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Stem Inc                       | Stem Inc                                   | CUSIP: 85859N102<br>LEI: 549300GVWIYFILN5V546 | Long             | EC               | CORP              | US        |     19487 | NS      | $254695.09    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunnova Energy International I | Sunnova Energy International Inc           | CUSIP: 86745K104<br>LEI: 549300JK1Y1VVC3JU540 | Long             | EC               | CORP              | US        |     38122 | NS      | $870325.26    | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| SunPower Corp                  | SunPower Corp                              | CUSIP: 867652406<br>LEI: 549300TXO070764WUH65 | Long             | EC               | CORP              | US        |     11000 | NS      | $266750.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrun Inc                     | Sunrun Inc                                 | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |     24682 | NS      | $804139.56    | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp           | Targa Resources Corp                       | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |     16000 | NS      | $1190240.00   | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Vnet Group Inc                 | Vnet Group Inc                             | CUSIP: 90138A103<br>LEI: 529900672GYJQ3T38I58 | Long             | EC               | CORP              | CN        |    170000 | NS      | $851700.00    | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Midstream Partners LP  | Western Midstream Partners LP              | CUSIP: 958669103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12000 | NS      | $335760.00    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NEL ASA                        | NEL ASA                                    | CUSIP: N/A<br>LEI: 549300G6XN5IXMRKEG37       | Long             | EC               | CORP              | NO        |    338468 | NS      | $527971.83    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaria Energia y Medio Ambien | Solaria Energia y Medio Ambiente SA        | CUSIP: N/A<br>LEI: 959800PM2YJU406K2789       | Long             | EC               | CORP              | ES        |     26683 | NS      | $481847.23    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                   | Iberdrola SA                               | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |     25375 | NS      | $286673.36    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SMA Solar Technology AG        | SMA Solar Technology AG                    | CUSIP: N/A<br>LEI: 529900Q6JQHI8X451Q21       | Long             | EC               | CORP              | DE        |     18825 | NS      | $1268462.79   | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Vestas Wind Systems A/S        | Vestas Wind Systems A/S                    | CUSIP: N/A<br>LEI: 549300DYMC8BGZZC8844       | Long             | EC               | CORP              | DK        |     11500 | NS      | $298795.55    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Scatec ASA                     | Scatec ASA                                 | CUSIP: N/A<br>LEI: 5967007LIEEXZXIARK36       | Long             | EC               | CORP              | NO        |     23032 | NS      | $205234.73    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Keppel DC REIT                 | Keppel DC REIT                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |    144558 | NS      | $197676.84    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Orsted AS                      | Orsted AS                                  | CUSIP: N/A<br>LEI: W9NG6WMZIYEU8VEDOG48       | Long             | EC               | CORP              | DK        |     10242 | NS      | $896793.63    | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Infrastrutture Wireless Italia | Infrastrutture Wireless Italiane SpA       | CUSIP: N/A<br>LEI: 81560066183FE361C071       | Long             | EC               | CORP              | IT        |     26000 | NS      | $259319.22    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Megaport Ltd                   | Megaport Ltd                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    150000 | NS      | $697326.61    | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantica Sustainable Infrastr | Atlantica Sustainable Infrastructure PLC   | CUSIP: N/A<br>LEI: 549300ITBBGKJ651R879       | Long             | EC               | CORP              | GB        |      8000 | NS      | $223200.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ReNew Energy Global PLC        | ReNew Energy Global PLC                    | CUSIP: N/A<br>LEI: 254900SL77LA2KAG7R65       | Long             | EC               | CORP              | IN        |    165862 | NS      | $1006782.34   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| FREYR Battery SA               | FREYR Battery SA                           | CUSIP: N/A<br>LEI: 222100QIBHPZGVW6UT76       | Long             | EC               | CORP              | NO        |     35796 | NS      | $488615.40    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Tritium DCFC Ltd               | Tritium DCFC Ltd                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    185752 | NS      | $297203.20    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Azure Power Global Ltd         | Azure Power Global Ltd                     | CUSIP: N/A<br>LEI: 54930085G5UQETD7JX48       | Long             | EC               | CORP              | IN        |     45133 | NS      | $257709.43    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Maxeon Solar Technologies Ltd  | Maxeon Solar Technologies Ltd              | CUSIP: N/A<br>LEI: 5493007JPB074ITT6Y72       | Long             | EC               | CORP              | SG        |     33706 | NS      | $775912.12    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-23

**Name of Applicant:** Cushing Mutual Funds Trust

**Signature:** /s/ Blake Nelson

**Name of Signer:** Cushing Mutual Funds Trust

**Title:** Chief Financial Officer