NXG Cushing Midstream Fund shareholders approve new advisory agreement after Adviser ownership change
Shareholders of the NXG Cushing Midstream Energy Fund approved a new investment advisory agreement with Cushing Asset Management, LP, after NXG Cushing, LLC acquired a 62% interest in the Adviser from its founder on July 10, 2026. The filing states the new agreement has no material differences from the prior one and does not change the advisory fee rate, so the change mainly affects who controls the Adviser rather than the Fund's terms.
Key points
- Shareholders elected Brian R. Bruce and John H. Alban as Class I Trustees, each to serve until the 2029 annual meeting.
- Annual meeting was held June 18, 2026 and adjourned to July 10, 2026.
- Advisory fee remains 1.25% of Average Weekly Managed Assets; Adviser waives 0.25% of Managed Assets through February 1, 2027.
- NXG Cushing, LLC now owns 62% of the Adviser and replaced Swank Capital, LLC as general partner.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 10, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.