NXG Cushing Midstream Energy Fund Insider Trading Activity

NXG Cushing Midstream Energy Fund’s portfolio manager reported a small increase in ownership through a recent rights offering.

Accepted by SEC EDGAR 12/19/2025 - 10:52 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

NXG Cushing Midstream Energy Fund’s portfolio manager reported a small increase in ownership through a recent rights offering. On December 18, 2025, the reporting person acquired 80 common shares at a subscription price of $39.89, tied to the Fund’s transferable rights offering that expired on December 11, 2025. The final number of shares was confirmed after pro-ration and allocation under the over-subscription privilege.

Following this transaction, the reporting person directly beneficially owns 260.351 common shares, which include 23.675 shares acquired through an Automatic Dividend Reinvestment Plan (DRIP). This filing reflects routine portfolio manager participation in the Fund’s capital-raising rights offering.

Insider Trade Summary

Net Buyer: 80 shares

Net Buy 1 txn

Insider Sunderland Todd

Role Insider

Bought 80 shs ($3K)

Increase in Position 44.4%

Type	Security	Shares	Price	Value
Purchase	Common Shares	80	$39.89	$3K

Holdings After Transaction: Common Shares — 260.351 shares (Direct)

Holdings Before and After: Common Shares, 180.351 to 260.351 shares (Direct)

Other Insiders: 1 other insider reported open-market purchases of this stock in the 30 days up to this filing.

Footnotes (2)

1. F1. Shares were acquired pursuant to the exercise of rights to acquire common shares in the Fund's transferrable rights offering, which expired on December 11, 2025, at the subscription price of $39.89. The number of common shares acquired was confirmed to exercising rights holders on December 18, 2025, following the pro-ration and allocation of shares pursuant to the over-subscription privilege.
2. F2. Includes 23.675 shares of common stock acquired through an Automatic Dividend Reinvestment Plan (DRIP).

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sunderland Todd

(Last) (First) (Middle)

4925 GREENVILLE AVENUE

SUITE 1310

(Street)

DALLAS TX 75206

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NXG Cushing Midstream Energy Fund [ SRV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Portfolio Manager

3. Date of Earliest Transaction (Month/Day/Year)
12/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	12/18/2025(1)		P		80	A	$39.89	260.351(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares were acquired pursuant to the exercise of rights to acquire common shares in the Fund's transferrable rights offering, which expired on December 11, 2025, at the subscription price of $39.89. The number of common shares acquired was confirmed to exercising rights holders on December 18, 2025, following the pro-ration and allocation of shares pursuant to the over-subscription privilege.

2. Includes 23.675 shares of common stock acquired through an Automatic Dividend Reinvestment Plan (DRIP).

	/s/ Brad Mead	12/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.