The reporting persons, Sit Investment Associates, Inc. and its subsidiary Sit Fixed Income Advisors II, LLC, filed an amendment to a Schedule 13G/A for NXG NextGen Infrastructure Income Fund. Each reports shared voting and shared dispositive power over 19,902 shares. The filing cites 5,792,510 shares outstanding as of November 30, 2025 and reports an ownership figure of .3 % based on that outstanding count. The filing states the reported shares are owned by client accounts managed by the advisers and that the advisers disclaim beneficial ownership pursuant to Rule 13d-4.
Positive
None.
Negative
None.
Insights
Advisers report small, non‑controlling shared positions in NXG managed for client accounts.
The filing shows shared voting and dispositive power over 19,902 shares, representing .3 % of the class using the issuer's outstanding count of 5,792,510 as of November 30, 2025. The advisers explicitly disclaim beneficial ownership under Rule 13d-4, consistent with manager-of-accounts reporting.
Implication: proxy influence is limited at this scale; any change in voting posture would depend on client mandates rather than adviser ownership. Subsequent amendments would reveal material shifts.
Position size is small relative to outstanding shares and tied to managed client accounts.
The advisers state the reported securities are owned by client Accounts and that holdings were adjusted for a dividend reinvestment plan. The shared control of 19,902 shares reflects investment management duties, not direct proprietary ownership.
Questions to watch in future filings include any increase above 5% or conversion from shared to sole power; timing is tied to client portfolio activity and reporting updates.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
NXG NextGen Infrastructure Income Fund
(Name of Issuer)
Common Stock
(Title of Class of Securities)
231647207
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
231647207
1
Names of Reporting Persons
Sit Investment Associates, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MINNESOTA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
19,902.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
19,902.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
19,902.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
.3 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
231647207
1
Names of Reporting Persons
Sit Fixed Income Advisors II, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
19,902.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
19,902.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
19,902.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
.3 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
NXG NextGen Infrastructure Income Fund
(b)
Address of issuer's principal executive offices:
600 N. Pearl Street, Suite 1205, Dallas, TX 75201
Item 2.
(a)
Name of person filing:
Sit Investment Associates, Inc.
Sit Fixed Income Advisors II, LLC
(b)
Address or principal business office or, if none, residence:
c/o Sit Investment Associates, Inc.
80 South Eighth Street, Suite 3300
Minneapolis, MN 55402
(c)
Citizenship:
Sit Investment Associates, Inc. Minnesota Corporation
Sit Fixed Income Advisors II, LLC Delaware LLC
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
See response to item 9 on each cover page.
(b)
Percent of class:
See response to item 11 on each cover page.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See response to item 5 on each cover page.
(ii) Shared power to vote or to direct the vote:
See response to item 6 on each cover page.
(iii) Sole power to dispose or to direct the disposition of:
See response to item 7 on each cover page.
(iv) Shared power to dispose or to direct the disposition of:
See response to item 8 on each cover page.
The ownership percentages reported are based on 5,792,510 shares of common stock outstanding as of November 30, 2025, as reported in the Issuer's Report on Form N-CSR filed with the Securities Exchange Commission, and adjusted for shares issued pursuant to a dividend reinvestment plan.
Sit Investment Associates, Inc. ("SIA") is an investment adviser registered under section 203 of the Investment Advisers Act of 1940. Sit Fixed Income Advisors II, LLC ("SFI") is an investment adviser registered under section 203 of the Investment Advisers Act of 1940 and a subsidiary of SIA. SIA and SFI provide investment management services to client accounts ("Accounts"). In their roles as investment advisers SIA and SFI possess shared voting and investment power over securities of the Issuer described in this schedule 13G owned by the Accounts and may be deemed to be the beneficial owner of such shares of the Issuer owned by the Accounts. All securities reported in this schedule 13G are owned by the Accounts. Pursuant to Rule 13d-4 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), SIA and SFI disclaim beneficial ownership of such securities.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
