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          <ccc>XXXXXXXX</ccc>
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      <regStreet1>4925 Greenville Ave</regStreet1>
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      <regCity>Dallas</regCity>
      <regStateConditional regCountry="US" regState="US-TX"/>
      <regZipOrPostalCode>75206</regZipOrPostalCode>
      <regPhone>214-692-6334</regPhone>
      <seriesName>NXG Cushing Midstream Energy Fund</seriesName>
      <seriesLei>549300W2QLTRC8Y3NI93</seriesLei>
      <repPdEnd>2025-11-30</repPdEnd>
      <repPdDate>2025-11-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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        <name>Bloom Energy Corp</name>
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        <name>EQT Corp</name>
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        <name>TC Energy Corp</name>
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        <name>MasTec Inc</name>
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        <name>Viper Energy Inc</name>
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        <name>Williams Cos Inc/The</name>
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        <title>Williams Cos Inc/The</title>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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              <counterpartyName>NYSEAmerican</counterpartyName>
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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>NRG Energy Inc</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <cusip>629377508</cusip>
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        <name>Primoris Services Corp</name>
        <lei>549300UF3OLBJ8D5K349</lei>
        <title>Primoris Services Corp</title>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Quanta Services Inc</name>
        <lei>SHVRXXEACT60MMH07S24</lei>
        <title>Quanta Services Inc</title>
        <cusip>74762E102</cusip>
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          <isin value="US74762E1029"/>
          <ticker value="PWR"/>
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        <balance>9000.000000000000</balance>
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      <invstOrSec>
        <name>Cheniere Energy Inc</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy Inc</title>
        <cusip>16411R208</cusip>
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          <ticker value="LNG"/>
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        <balance>30000.000000000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>DT Midstream Inc</name>
        <lei>N/A</lei>
        <title>DT Midstream Inc</title>
        <cusip>23345M107</cusip>
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      <invstOrSec>
        <name>Enterprise Products Partners L</name>
        <lei>K4CDIF4M54DJZ6TB4Q48</lei>
        <title>Enterprise Products Partners LP</title>
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        <name>First Solar Inc</name>
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        <title>First Solar Inc</title>
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        <name>NGL ENERGY PARTNERS LP</name>
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        <title>NGL Energy Partners LP</title>
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        <name>Targa Resources Corp</name>
        <lei>5493003QENHHS261UR94</lei>
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        <name>Alliance Resource Partners LP</name>
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        <name>Cenovus Energy Inc</name>
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        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
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          <ticker value="ET"/>
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        <name>First American Government Obli</name>
        <lei>549300R5MYM6VZF1RM44</lei>
        <title>First American Government Obligations Fund</title>
        <cusip>31846V336</cusip>
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          <ticker value="FGXXX"/>
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        <curCd>USD</curCd>
        <valUSD>1822588.550000000000</valUSD>
        <pctVal>0.9028290633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GE Vernova Inc</name>
        <lei>254900DP080RU6OK2553</lei>
        <title>GE Vernova Inc</title>
        <cusip>36828A101</cusip>
        <identifiers>
          <isin value="US36828A1016"/>
          <ticker value="GEV"/>
        </identifiers>
        <balance>17000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10196090.000000000000</valUSD>
        <pctVal>5.0506881456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Genesis Energy LP</name>
        <lei>549300VJ5D6MDK138782</lei>
        <title>Genesis Energy LP</title>
        <cusip>371927104</cusip>
        <identifiers>
          <isin value="US3719271047"/>
          <ticker value="GEL"/>
        </identifiers>
        <balance>130000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2026700.000000000000</valUSD>
        <pctVal>1.0039367703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hess Midstream LP</name>
        <lei>N/A</lei>
        <title>Hess Midstream LP</title>
        <cusip>428103105</cusip>
        <identifiers>
          <isin value="US4281031058"/>
          <ticker value="HESM"/>
        </identifiers>
        <balance>200000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6736000.000000000000</valUSD>
        <pctVal>3.3367139118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Phillips 66</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>Phillips 66</title>
        <cusip>718546104</cusip>
        <identifiers>
          <isin value="US7185461040"/>
          <ticker value="PSX"/>
        </identifiers>
        <balance>40000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5478400.000000000000</valUSD>
        <pctVal>2.7137549724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>South Bow Corp</name>
        <lei>2549000XS5TAFA3YF943</lei>
        <title>South Bow Corp</title>
        <cusip>83671M105</cusip>
        <identifiers>
          <isin value="CA83671M1059"/>
          <ticker value="SOBO"/>
        </identifiers>
        <balance>225000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6201000.000000000000</valUSD>
        <pctVal>3.0716987778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TXO Partners LP</name>
        <lei>KWQMGYEOMKX7BT2PZF05</lei>
        <title>TXO Partners LP</title>
        <cusip>87313P103</cusip>
        <identifiers>
          <isin value="US87313P1030"/>
          <ticker value="TXO"/>
        </identifiers>
        <balance>330000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4121700.000000000000</valUSD>
        <pctVal>2.0417063139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Talen Energy Corp</name>
        <lei>N/A</lei>
        <title>Talen Energy Corp</title>
        <cusip>87422Q109</cusip>
        <identifiers>
          <isin value="US87422Q1094"/>
          <ticker value="TLN"/>
        </identifiers>
        <balance>32000.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12616640.000000000000</valUSD>
        <pctVal>6.2497206366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Constellation Energy Corp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CEG 11 C370"/>
          <other otherDesc="BBGID" value="BBG01XT4XPV0"/>
        </identifiers>
        <balance>-200.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1000.000000000000</valUSD>
        <pctVal>-0.0004953554</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>NYSEAmerican</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Constellation Energy Corp</issuerName>
                <issueTitle>Constellation Energy Corp</issueTitle>
                <identifiers>
                  <cusip value="21037T109"/>
                  <isin value="US21037T1097"/>
                  <ticker value="CEG"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.000000000000</shareNo>
            <exercisePrice>370.000000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-28</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6108.260000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>IREN Ltd</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="IREN 11 C51"/>
          <other otherDesc="BBGID" value="BBG01XTGTZL7"/>
        </identifiers>
        <balance>-400.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-400.000000000000</valUSD>
        <pctVal>-0.0001981422</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CHICAGO</counterpartyName>
              <counterpartyLei>529900RLNSGA90UPEH54</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>IREN Ltd</issuerName>
                <issueTitle>IREN Ltd</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="AU0000185993"/>
                  <ticker value="IREN"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.000000000000</shareNo>
            <exercisePrice>51.000000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-28</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>17768.520000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-01-29</ncom:dateSigned>
      <ncom:nameOfApplicant>NXG Cushing Midstream Energy Fund</ncom:nameOfApplicant>
      <ncom:signature>/s/ Blake Nelson</ncom:signature>
      <ncom:signerName>NXG Cushing Midstream Energy Fund</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
