Cushing MLP & Infrastructure Total Return Fund: directors' dealings · United States · SEC (Form 4)

About Cushing MLP & Infrastructure Total Return Fund

The Cushing MLP & Infrastructure Total Return Fund is a U.S.-listed closed-end fund traded on the NYSE, with its market listing and operating footprint tied to the United States. The fund was organized as a Delaware statutory trust on May 23, 2007, and commenced operations in 2007. Its core purpose has been to provide investors with a specialized vehicle for accessing North American energy infrastructure, especially midstream assets, master limited partnerships (MLPs), and related transport, storage, and logistics businesses within the energy value chain. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001400897/000095013709000788/c48784nvcsr.htm?utm_source=openai)) Unlike an operating company, the fund does not sell physical products. Instead, it is a listed investment vehicle built to pursue total return through a concentrated portfolio of publicly traded securities in the energy infrastructure universe. The strategy has historically emphasized midstream businesses, which are often viewed as more resilient than upstream exploration and production companies because they are commonly supported by fee-based revenues linked to transportation, processing, or storage activity. Cushing Asset Management, LP, based in Dallas, Texas, served as the specialist adviser and manager, giving the fund a recognized niche expertise in MLPs and energy infrastructure investing. The portfolio focus has been predominantly North American, consistent with the public MLP market and the nature of the underlying infrastructure assets. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1400897/000089418920000802/cushing_425.htm?utm_source=openai)) From a competitive perspective, the fund stands out less for broad diversification and more for highly targeted sector exposure. It was designed for investors seeking a listed, professionally managed way to access U.S. energy infrastructure with an income-and-total-return orientation. That places it in competition with other closed-end funds, ETFs, and active strategies focused on pipelines, terminals, utilities, and associated infrastructure assets. For international investors, the appeal lies in the ability to access a difficult-to-build exposure through the NYSE, within the United States market framework, rather than through direct ownership of individual pipeline or MLP names. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1400897/000089418920001710/srv-srf_n14a.htm?utm_source=openai)) A notable recent development is the fund’s identity evolution. SEC filings from 2024 refer to the vehicle as NXG Cushing Midstream Energy Fund, formerly The Cushing MLP & Infrastructure Total Return Fund, indicating a rebranding or structural continuity under a new name. That matters for investors because it reflects how the fund has adapted to shifts in the MLP landscape and in product branding. In practical terms, this is a specialized U.S. NYSE-listed investment fund rather than an industrial operating company, with a clear thematic focus on energy infrastructure in the United States. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1400897/000139834424014242/fp0088813-3_ncsrs.htm?utm_source=openai))