SCHEDULE 13G/A: Sit Investment Associates Discloses 4.9% Passive Stake in NXG Cushing Midstream Energy Fund
Beneficial Ownership Disclosure (Schedule 13G Amendment)
Sit Investment Associates, Inc. and its subsidiary, Sit Fixed Income Advisors II, LLC, have filed an amended Schedule 13G disclosing a passive beneficial ownership of 4.9% in NXG Cushing Midstream Energy Fund.
Summary
- Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC, both registered investment advisers, collectively hold 212,970 shares of Common Stock in NXG Cushing Midstream Energy Fund.
- This ownership represents 4.9% of the class of securities, based on 4,354,540 shares outstanding as of November 30, 2024, adjusted for shares issued via a prospectus supplement dated March 14, 2025.
- The filing is an Amendment No. 1 to a Schedule 13G, indicating a passive investment intent, with the securities acquired and held in the ordinary course of business, not for influencing or changing control of the issuer.
- The reporting persons possess shared voting and dispositive power over all 212,970 beneficially owned shares.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain subjective language or performance data that would indicate a positive or negative sentiment.
Future Outlook
NA
Industry Context
This filing is a standard disclosure of passive investment ownership by an investment adviser in a midstream energy fund. It does not provide specific insights into broader industry trends or competitive dynamics beyond the fact that an investment firm holds a stake in this sector.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant passive ownership stake by an institutional investor, which can offer some level of confidence in the company's investment appeal.
Key Dates
| Date | Description |
|---|---|
| 11/30/2024 | Date as of which 4,354,540 shares of common stock outstanding were reported in the Issuer's Form N-CSR. |
| 03/14/2025 | Date of prospectus supplement for the Issuer's offering program, which adjusted the shares outstanding. |
| 03/20/2025 | Date of event which required the filing of this Schedule 13G Amendment. |
| 04/02/2025 | Date the Schedule 13G Amendment was signed and filed. |
Keywords
NXG Cushing Midstream Energy Fund, Sit Investment Associates, Sit Fixed Income Advisors II, Schedule 13G, Beneficial Ownership, Common Stock, Investment Adviser, Passive Investment, SEC Filing, Energy Fund
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.