NXG NextGen Infrastructure Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)
August 31, 2026
Fair
Common Stock - 121.5% SharesValue
Cloud Services - 3.8%
DigitalOcean Holdings Inc(3)
105,000 $        11,622,450 
Nebius Group NV(1)(2)(3)
25,000 5,158,000 
16,780,450 
Cryptocurrency Miners - 2.7%
Cipher Digital Inc130,000 2,015,000 
Core Scientific Inc(1)(3)
225,000 3,667,500 
IREN Ltd(1)(2)(3)
120,000 4,453,800 
Terawulf Inc135,000 2,042,550 
12,178,850 
Cybersecurity - 15.7%
Crowdstrike Holdings Inc(3)
116,000 26,796,000 
Palo Alto Networks Inc(3)
65,000 24,838,450 
Cloudflare Inc(3)
60,000 18,306,600 
69,941,050 
Data Centers - 1.0%
CoreWeave Inc(1)(3)
50,000 4,244,500 
Electrical Power Equipment - 4.8%
GE Vernova, Inc.(1)
24,000 21,564,720 
Engineering & Construction - 16.8%
Argan Inc(1)
34,000 14,449,660 
Dycom Industries Inc(3)
43,000 12,522,030 
MasTec Inc(3)
56,000 13,427,680 
Quanta Services, Inc.29,000 17,605,610 
Solv Energy Inc.(3)
380,000 9,697,600 
Sterling Infrastructure Inc.(3)
15,000 7,051,050 
74,753,630 
Environmental Services - 1.3%
Ecolab Inc20,000 5,664,000 
Fuels Distribution - 0.3%
Arko Corp300,000 1,367,999 
Industry Software - 3.5%
Dynatrace Inc80,000 4,367,200 
Snowflake Inc(3)
34,000 11,268,620 
15,635,820 
Large Cap Diversified C Corps. - 10.8%
Cheniere Energy, Inc.20,000 5,833,800 
Kinder Morgan, Inc.277,000 8,930,480 
Oneok, Inc.179,000 17,185,790 
TC Energy Corp(2)
110,000 6,878,300 
Williams Companies, Inc.125,000 9,381,250 
48,209,620 
Natural Gas Gatherers & Processors - 8.1%
DT Midstream, Inc.90,000 11,791,800 
Kinetik Holdings, Inc.250,000 13,707,500 
Western Midstream Partners, L.P. 220,000 10,582,000 
36,081,300 
Natural Gas Transportation & Storage - 7.6%
Antero Midstream Corporation201,000 4,506,420 


Excelerate Energy Inc100,000 3,962,001 
Targa Resources Corp72,000 21,142,800 
Venture Global Inc300,000 4,392,000 
34,003,221 
Oilfield Services - 2.8%
Kodiak Gas Services67,000 3,937,590 
Solaris Energy Infrastructure(1)
172,000 8,732,440 
12,670,030 
Other Renewable Generation - 4.2%
Bloom Energy Corporation(3)
90,000 18,567,000 
Semiconductor Manufacturing - 0.9%
Entegris Inc30,000 4,058,700 
Satellites - 3.2%
Iridium Communications Inc300,000 14,094,000 
Solar Equipment - 3.9%
Nextpower Inc(3)
115,000 9,433,450 
First Solar Inc(3)
40,000 8,076,000 
17,509,450 
Upstream - 1.1%
EagleRock Land LLC200,000 5,080,000 
Utilities - 26.5%
American Electric Power Co Inc60,000 7,345,800 
Constellation Energy Corporation(1)
70,000 19,233,900 
Dominion Energy Inc80,000 5,280,800 
Duke Energy Corp61,000 7,314,510 
Entergy Corp100,000 10,631,000 
NextEra Energy Inc33,000 2,717,220 
NRG Energy Inc160,000 17,619,200 
Southern Co/The80,000 7,040,000 
Talen Energy Corp(3)
54,000 15,971,040 
Vistra Corporation130,000 17,858,100 
WEC Energy Group Inc67,000 7,113,390 
118,124,960 
Water Midstream - 2.5%
Select Water Solutions Inc300,000 5,850,000 
WaterBridge Infrastructure LLC160,000 5,088,000 
10,938,000 
Total Common Stocks (Cost $424,945,256)$        541,467,300 
Master Limited Partnerships and Related Companies - 12.4%Units
Large Cap Diversified C Corps - 1.9%
Plains GP Holdings, L.P.(1)
300,000$            8,466,000 
Large Cap MLP - 9.8%
Energy Transfer, L.P.899,99919,358,988 
Enterprise Prods Partners, L.P. 155,0006,017,100 
MPLX, L.P.(1)
240,00014,200,800 
USA Compression Partners, L.P.141,5093,829,234 
43,406,122 
Upstream MLP - 0.7%
TXO Partners, L.P.201,0002,910,480 
Total MLP Investments and Related Companies (Cost $25,150,687)$         54,782,602 
Real Estate Investment Trusts - 2.0%Shares
Data Centers - 2.0%


Digital Realty Trust Inc47,000 $           8,722,730 
Total Real Estate Investment Trusts (Cost $8,279,471)$           8,722,730 
Fixed Income - 0.0%Principal Amount
Exploration & Production - 0.0%
Sanchez Energy Corporation, 6.125%, due 01/15/2050(1)(4)
5,000,000$                25,250 
Total Fixed Income (Cost $4,932,683)$                25,250 
Short-Term Investments - Investment Companies - 5.0%Shares
First American Government Obligations Fund - Class X, 3.60%(1)(5)
11,093,338$         11,093,338 
First American Treasury Obligations Fund - Class X, 3.60%(1)(5)
11,093,33811,093,338 
Total Short-Term Investments - Investment Companies (Cost $22,186,676)$         22,186,676 
Total Investments - 140.9% (Cost $485,494,773)$       627,184,558 
Written Options(6) - (0.3)% (Premiums Received $1,259,922)
(1,171,160)
Liabilities in Excess of Other Assets - (40.6)%(180,770,941)
Net Assets Applicable to Common Stockholders - 100.0%$        445,242,457 
(1)All or a portion of these securities are held as collateral pursuant to the loan agreements.
(2)Foreign issued security. Foreign concentration is as follows: Canada 1.54%, Netherlands 1.16%, and Australia 1.00%.
(3)No distribution or dividend was made during the period ended August 31, 2026. As such, it is classified as a non-income producing security as of August 31, 2026.
(4)Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "qualified institutional buyers." These securities have been deemed to be liquid by the Fund's adviser under the supervision of the Board of Trustees. As of August 31, 2026, the value of these investments was $25,250 or 0.01% of total net assets.
(5)Rate reported is the current yield as of August 31, 2026.
(6)DescriptionExercise
Price		Expiration
Date		CurrencyNumber of
Contracts		Premiums
Received		Fair
Value		Unrealized
Appreciation
(Depreciation)
Bloom Energy Corp$235.009/4/2026USD400$69,629$52,000$17,629
Bloom Energy Corp$245.009/4/2026USD40036,03425,60010,434
Cipher Digital Inc$17.009/4/2026USD1,30017,98824,700(6,712)
Cloudflare Inc$322.509/4/2026USD20041,71948,400(6,681)
Cloudflare Inc$330.009/4/2026USD20022,11528,800(6,685)
Constellation Energy Corp$292.509/4/2026USD30031,35418,60012,754
Constellation Energy Corp$297.509/4/2026USD30016,7069,0007,706
Core Scientific Inc$18.009/4/2026USD1,32812,7186,6406,078
CoreWeave Inc$91.009/4/2026USD50031,54335,000(3,457)
Crowdstrike Holdings Inc$240.009/4/2026USD500200,604152,50048,104
Crowdstrike Holdings Inc$245.009/4/2026USD500142,97598,00044,975
DigitalOcean Holdings Inc$124.009/4/2026USD50022,22320,0002,223
DigitalOcean Holdings Inc$129.009/4/2026USD5008,94811,500(2,552)
First Solar Inc$220.009/4/2026USD40015,79815,200598
GE Vernova Inc$950.009/4/2026USD10030,31328,3002,013
GE Vernova Inc$965.009/4/2026USD10017,39217,500(108)
IREN Ltd$39.009/4/2026USD1,20059,17976,800(17,621)
Nebius Group NV(2)
$230.009/4/2026USD20034,48525,8008,685
NRG Energy Inc$119.009/4/2026USD90015,1809,0006,180
Palo Alto Networks Inc$415.009/4/2026USD300173,290195,000(21,710)
Palo Alto Networks Inc$435.009/4/2026USD30087,44197,500(10,059)
Snowflake Inc$380.009/4/2026USD15071,88977,400(5,511)
Snowflake Inc$402.509/4/2026USD15032,68527,6005,085
Talen Energy Corp$320.009/4/2026USD25021,45420,2501,204
Talen Energy Corp$325.009/4/2026USD25011,11113,750(2,639)
Vistra Corp$146.009/4/2026USD1,00025,67628,000(2,324)
Terawulf Inc$17.009/4/2026USD1,0409,4718,3201,151
$1,259,922$1,171,160$88,762



Fair Value Measurements
Various inputs that are used in determining the fair value of the Fund’s investments are summarized in the three broad levels listed below:

•Level 1 — quoted prices in active markets for identical securities
•Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
•Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

These inputs are summarized in the three broad levels listed below.
Fair Value Measurements at Reporting Date Using
Quoted Prices inSignificant
Active Markets forSignificant OtherUnobservable
Fair Value atIdentical AssetsObservable InputsInputs
DescriptionAugust 31, 2026(Level 1)(Level 2)(Level 3)
Assets
Equity Securities
Common Stock (a)
$      541,467,300 $      541,467,300 $            - $           - 
Master Limited Partnerships and Related Companies (a)
54,782,602 54,782,602 - - 
Real Estate Investment Trusts (a)
8,722,730 8,722,730 - - 
Fixed Income (a)
25,250 25,250 - - 
Total Equity Securities
604,997,882
604,997,882
- - 
Other
      Short Term Investments (a)
22,186,676 22,186,676 - - 
Total Other22,186,676 22,186,676 - - 
Total Assets$       627,184,558 $       627,184,558 $            - $           - 
Liabilities
Written Options
Written Options (a)
$           1,171,160 $           1,171,160 $           - $           - 
Total Liabilities$           1,171,160$           1,171,160$           - $           - 
(1)All other industry classifications are identified in the Schedule of Investments. The Fund did not hold Level 3 investments at any time during the period ended August 31, 2026.

Transfers into and out of each level are measured at fair value at the end of the period. There were no transfers between any levels during the period ended August 31, 2026.