0001752724-20-221120.txt : 20201030 0001752724-20-221120.hdr.sgml : 20201030 20201030160227 ACCESSION NUMBER: 0001752724-20-221120 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200831 FILED AS OF DATE: 20201030 PERIOD START: 20201130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Kayne Anderson NextGen Energy & Infrastructure, Inc. CENTRAL INDEX KEY: 0001500096 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-22467 FILM NUMBER: 201277301 BUSINESS ADDRESS: STREET 1: 811 MAIN STREET STREET 2: 14TH FLOOR CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 713-425-0242 MAIL ADDRESS: STREET 1: 811 MAIN STREET STREET 2: 14TH FLOOR CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: KAYNE ANDERSON MIDSTREAM/ENERGY FUND, INC. DATE OF NAME CHANGE: 20100827 NPORT-P 1 primary_doc.xml NPORT-P false 0001500096 XXXXXXXX Kayne Anderson NextGen Energy & Infrastructure Fund 811-21593 0001500096 549300H9ZCLGQEKXQY57 811 Main Street 14th Floor Houston 77002 713-493-2020 Kayne Anderson NextGen Energy & Infrastructure Fund S001500096 549300MHDTCUZBV2Y068 2020-11-30 2020-08-31 N 421350218 126418393 294931825 0.00000000 0.00000000 2407639 0.00000000 0.00000000 0.00000000 84515438 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 39999775 2258552 N Targa Resources Co 5493003QENHHS261UR94 Targa Resources Corp. 87612G101 1025428.00000000 NS USD 17442530.28000000 5.914088884778 Long EC CORP US N 1 N N N Blue Racer Midstream, LLC / Blue Racer Finance Corp N/A Blue Racer Mid LLC 6.625% due 07/15/2026 095796AE8 4000000.00000000 PA USD 3520000.00000000 1.193496157968 Long DBT CORP US Y 2 2026-07-15 Fixed 6.62500000 N N N N N N E.ON SE Q9MAIUP40P25UFBFG033 E.ON SE D24914133 52000.00000000 NS 614793.61000000 0.208452787351 Long EC CORP DE N 1 N N N Dominion Energy Inc ILUL7B6Z54MRYCF6H308 Dominion Energy, Inc. 25746U109 54400.00000000 NS USD 4267136.00000000 1.446821142479 Long EC CORP US N 1 N N N EDP Renovaveis Sa 529900MUFAH07Q1TAX06 EDP Renovaveis SA E3847K101 129200.00000000 NS 2207282.27000000 0.748404235453 Long EC CORP ES N 1 N N N Rattler Midstream LP 549300I45NRVEEN9M219 Rattler Midstream LP 75419T103 420900.00000000 NS USD 3522933.00000000 1.194490625079 Long EC CORP US N 1 N N N Enel - Societa per Azioni WOCMU6HCI0OJWNPRZS33 Enel SpA T3679P115 527300.00000000 NS 4774134.69000000 1.618724832425 Long EC CORP IT N 1 N N N Keyera Corp. N/A Keyera Corp. 493271100 362300.00000000 NS 6617376.97000000 2.243697156113 Long EC CORP CA N 1 N N N DCP Midstream LP 52990024YYS3MLGW0E91 DCP Midstream LP 7.375$ Preferred 23311PAA8 6005000.00000000 PA USD 4413675.00000000 1.496506862221 Long EP CORP US N 1 N N N Clearway Energy Inc 549300LHAZ9HA9G3XC48 Clearwater Energy, Inc. 18539C105 230606.00000000 NS USD 5569134.90000000 1.888278723396 Long EC CORP US N 1 N N N Plains Gp Hldgs Lp 549300O56BSKRD8FAM12 Plains GP Holdings, L.P. - Plains AAP, L.P. Class A 72651A207 689558.00000000 NS USD 5040668.98000000 1.709096324209 Long EC CORP US Y 2 N N N Antero Midstream Partners LP / Antero Midstream Finance Corp 529900HFO1BDEIT4QU11 Antero Midstream Partners 5.375%, due 9/15/2024 03690AAC0 2701000.00000000 PA USD 2491672.50000000 0.844829987404 Long DBT CORP US N 2 2024-09-15 Fixed 5.37500000 N N N N N N Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp. 549300IQ3DN0F3VERF65 Tallgrass Energy Partners, LP 6.000%, Due 03/01/2027 87470LAG6 1307000.00000000 PA USD 1222045.00000000 0.414348298967 Long DBT CORP US Y 2 2027-03-01 Fixed 6.00000000 N N N N N N Northland Power Inc. 549300IT8CIDW8V5KX72 Northland Power Inc. 666511100 337200.00000000 NS 9445240.54000000 3.202516561242 Long EC CORP CA N 1 N N N EQUITRANS MIDSTREAM CORPORATION 549300RH0NLJNZ5SXU64 Equitrans Midstream Corporation Convertible Preferred Units 294600101 237519.00000000 NS USD 4814510.13000000 1.632414585981 Long EP CORP US Y 3 N N N Antero Midstream Corporation N/A Antero Midstream Corporation 03676B102 1178423.00000000 NS USD 7977923.71000000 2.705006050127 Long EC CORP US N 1 N N N Oneok Inc. 2T3D6M0JSY48PSZI1Q41 ONEOK, Inc. 682680103 269272.00000000 NS USD 7399594.56000000 2.508916953943 Long EC CORP US N 1 N N N EQM MIDSTREAM PARTNERS LP 549300NELT611CL6XM83 EQM Midstream Partners, LP 6.500%, Due 07/15/2048 26885BAE0 515000.00000000 PA USD 520150.00000000 0.176362791638 Long DBT CORP US N 2 2048-07-15 Fixed 6.50000000 N N N N N N Bp Midstream Partners Lp 529900PIOYVTOPLH5962 BP Midstream Partners LP 0556EL109 250800.00000000 NS USD 2956932.00000000 1.002581528799 Long EC CORP US N 1 N N N EDP-Energias de Portugal SA 529900CLC3WDMGI9VH80 EDP - Energias de Portugal S.A. X67925119 671677.00000000 NS 3399252.96000000 1.152555496511 Long EC CORP PT N 1 N N N CHENIERE ENERGY PARTNERS L P 5493005UEC8AZ34LDV29 Cheniere Energy Partners, L.P. 16411Q101 74000.00000000 NS USD 2678060.00000000 0.908026795684 Long EC CORP US N 1 N N N N/A N/A Jupiter Resources Inc. N/A 1228639.00000000 NS USD 4607396.25000000 1.562190262105 Long EC CORP US Y 3 N N N Kinder Morgan, Inc. 549300WR7IX8XE0TBO16 Kinder Morgan, Inc. 49456B101 930362.00000000 NS USD 12857602.84000000 4.359516929039 Long EC CORP US N 1 N N N Atlantica Sustainable Infrastructure plc 549300ITBBGKJ651R879 Atlantica Sustainable Infrastructure plc G0751N103 519876.00000000 NS USD 15611876.28000000 5.293384761037 Long EC CORP US N 1 N N N Nextera Energy Inc N/A NextEra Energy, Inc. 65339F101 31400.00000000 NS USD 8765938.00000000 2.972191285223 Long EC CORP US N 1 N N N Innergex Renewable Energy Inc. 549300EORYEC4J59SU80 Innergex Renewable Energy Inc. 45790B104 749900.00000000 NS 12949336.73000000 4.390620350991 Long EC CORP CA N 1 N N N Clearway Energy Inc 549300LHAZ9HA9G3XC48 Clearway Energy, Inc. 18539C204 102099.00000000 NS USD 2604545.49000000 0.883100862377 Long EC CORP US N 1 N N N Algonquin Power & Utilities Corporation 549300K5VIUTJXQL7X75 Algonquin Power & Utilities Corp. 015857105 640500.00000000 NS USD 8858115.00000000 3.003444948675 Long EC CORP CA N 1 N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 Energy Transfer LP 29273V100 1235194.00000000 NS USD 7929945.48000000 2.688738483885 Long EC CORP US N 1 N N N Sempra Energy PBBKGKLRK5S5C0Y4T545 Sempra Energy 816851109 52200.00000000 NS USD 6454530.00000000 2.188482033093 Long EC CORP US N 1 N N N Brookfield Renewable Corporation N/A Brookfield Renewable Partners L.P. 11284V105 134384.00000000 NS USD 6842833.28000000 2.320140690140 Long EC CORP CA N 1 N N N Brookfield Renewable Partner S.L.P VA8DFMRI2GY8Y7V79H93 Brookfield Renewable Partners L.P. G16258108 342753.00000000 NS USD 15574696.32000000 5.280778471431 Long EC CORP CA N 1 N N N Transalta Renewables Inc 529900U45A1JKZFABZ35 TransAlta Renewables Inc. 893463109 228000.00000000 NS 2786756.02000000 0.944881421325 Long EC CORP CA N 1 N N N JP Morgan Trust I 549300DM5WZMCZZ70R78 JPMORGAN 100% US TREASURY SEC MONEY MARKET 4812A0375 17644277.10000000 PA USD 17644277.10000000 5.982493445731 Long STIV RF US N 1 N N N Flughafen Zurich AG 529900PFO97GCN5SYB55 Flughafen Zurich AG H26552135 17000.00000000 NS 2557550.42000000 0.867166647749 Long EC CORP CH N 1 N N N Enbridge Incorporation 98TPTUM4IVMFCZBCUR27 Enbridge, Inc. 29250N105 267153.00000000 NS USD 8554239.06000000 2.900412344446 Long EC CORP CA N 1 N N N Xcel Energy Inc LGJNMI9GH8XIDG5RCM61 Xcel Energy, Inc. 98389B100 63800.00000000 NS USD 4432505.00000000 1.502891388543 Long EC CORP US N 1 N N N Altagas Ltd DR5LKEURSR8SXLM64266 Altagas Ltd 021361100 130000.00000000 NS 1681644.61000000 0.570180790085 Long EC CORP CA N 1 N N N The Williams Companies, Inc. D71FAKCBLFS2O0RBPG08 The Williams Companies, Inc. 969457100 1347300.00000000 NS USD 27969948.00000000 9.483529964933 Long EC CORP US N 1 N N N Enlink Midstream Partners LP 88CPW63VL7KHJWS0NY83 EnLink Midstream Parthers, LP 6.00% Preferred 29336UAH0 8605000.00000000 PA USD 3442000.00000000 1.167049368103 Long EP CORP US N 1 N N N Enterprise Prods P K4CDIF4M54DJZ6TB4Q48 Enterprise Products Partners L.P. 293792107 590563.00000000 NS USD 10370286.28000000 3.516163872786 Long EC CORP US N 1 N N N Buckeye Partners LP 549300C1PQJLVEIUBK50 Buckeye Partners LP 6.375%, Due 01/22/2078 118230AS0 6040000.00000000 PA USD 4258200.00000000 1.443791289732 Long DBT CORP US N 2 2078-01-22 Fixed 6.37500000 N N N N N N TC Pipelines, LP 6HL0C5LCIE4TN8UZHL06 TC Pipelines, LP 87233Q108 216700.00000000 NS USD 6581179.00000000 2.231423821420 Long EC CORP US N 1 N N N Plains Gp Hldgs Lp 549300O56BSKRD8FAM12 Plains GP Holdings, L.P. Class A 72651A207 694719.00000000 NS USD 5078395.89000000 1.721888063453 Long EC CORP US N 1 N N N MPLX LP 5493000CZJ19CK4P3G36 MPLX LP 55336V100 548400.00000000 NS USD 10019268.00000000 3.397147120355 Long EC CORP US N 1 N N N TC Energy Corp 549300UGKOFV2IWJJG27 TC Energy Corporation 87807B107 258476.00000000 NS USD 12060490.16000000 4.089246781014 Long EC CORP CA N 1 N N N Shell Midstream Partners LP 529900YZVDXMTV4XGE96 Shell Midstream Partners, L.P. 822634101 333100.00000000 NS USD 3460909.00000000 1.173460680277 Long EC CORP US N 1 N N N Antero Midstream Partners LP / Antero Midstream Finance Corp 529900HFO1BDEIT4QU11 Antero Midstream Corp 5.750%, Due 01/15/2028 03690AAF3 1266000.00000000 PA USD 1129905.00000000 0.383107180786 Long DBT CORP US Y 2 2028-01-15 Fixed 5.75000000 N N N N N N Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp. 549300IQ3DN0F3VERF65 Tallgrass Energy Partners LP 5.50%, Due 01/15/2028 87470LAD3 1000000.00000000 PA USD 915000.00000000 0.310241188789 Long DBT CORP US Y 2 2028-01-15 Fixed 5.50000000 N N N N N N Phillips 66 Partners LP 549300TL5L4IG0H4FX64 Phillips 66 Partners LP 718549207 126000.00000000 NS USD 3391920.00000000 1.150069172765 Long EC CORP US N 1 N N N SSE Plc 549300KI75VYLLMSK856 SSE plc G8842P102 225000.00000000 NS 3785732.42000000 1.283595766580 Long EC CORP GB N 1 N N N EQUITRANS MIDSTREAM CORPORATION 549300RH0NLJNZ5SXU64 Equitrans Midstream Corporation 294600101 162800.00000000 NS USD 1673584.00000000 0.567447748305 Long EC CORP US N 1 N N N Knot Offshore Partners Lp 549300RM8O2QLS7ZQN07 Knot Offshore Partners LP Y48125101 422200.00000000 NS USD 5218392.00000000 1.769355341696 Long EC CORP US N 1 N N N Magellan Midstream Partners LP MZF5TI8NFVZZNUSKDL39 Magellan Midstream Partners, L.P. 559080106 156000.00000000 NS USD 5929560.00000000 2.010484965466 Long EC CORP US N 1 N N N Pembina Pipeline Corporation 5493002W3L9YICM6FU21 Pembina Pipeline Corporation 706327103 544000.00000000 NS USD 13458560.00000000 4.563278310165 Long EC CORP CA N 1 N N N Eversource Energy SJ7XXD41SQU3ZNWUJ746 Eversource Energy 30040W108 48200.00000000 NS USD 4131222.00000000 1.400737950202 Long EC CORP US N 1 N N N Orsted A/S W9NG6WMZIYEU8VEDOG48 ORSTED DC K7653Q105 25300.00000000 NS 3579821.34000000 1.213779265767 Long EC CORP DK N 1 N N N Nextera Energy Partners LP 5493008F4ZOQFNG3WN54 Nextera Energy Partners LP 65341B106 256800.00000000 NS USD 15490176.00000000 5.252120892684 Long EC CORP US N 1 N N N Gibson Energy Inc 549300WYW5D9I3FR0643 Gibson Energy, Inc. 374825206 105800.00000000 NS 1926748.66000000 0.653286114511 Long EC CORP CA N 1 N N N Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp. 549300IQ3DN0F3VERF65 Tallgrass Energy Partners LP 4.750%, Due 10/01/2023 87470LAE1 2000000.00000000 PA USD 1960000.00000000 0.664560360686 Long DBT CORP US Y 2 2023-10-01 Fixed 4.75000000 N N N N N N Antero Midstream Partners LP / Antero Midstream Finance Corp 529900HFO1BDEIT4QU11 Antero Midstream Partners, L.P. 5.75%, Due 03/01/2027 03690AAD8 2814000.00000000 PA USD 2511495.00000000 0.851551032174 Long DBT CORP US Y 2 2027-03-01 Fixed 5.75000000 N N N N N N Enviva Partners LP / Enviva Partners Finance Corp 549300WH5VXDEFM5KR81 ENVIVA PARTNERS, LP 29414J107 230768.00000000 NS USD 9523795.36000000 3.229151469157 Long EC CORP US N 1 N N N Phillips 66 5493005JBO5YSIGK1814 Phillips 66 718546104 85700.00000000 NS USD 5010879.00000000 1.698995691631 Long EC CORP US N 1 N N N Iberdrola, S.A. 5QK37QC7NWOJ8D7WVQ45 Iberdrola S.A. E6165F166 355500.00000000 NS 4474498.93000000 1.517129909598 Long EC CORP ES N 1 N N N Crestwood Holdings N/A Crestwood Holdings LLC 9.6021%, 03/06/2023 22634GAM4 6733169.04000000 PA USD 4354138.42000000 1.476320305548 Long LON CORP US Y 2 2023-03-06 Floating 7.68999960 N N N N N N 2020-10-30 Kayne Anderson Kayne Anderson Sarah Criger AVP, Fund Accounting XXXX NPORT-EX 2 d72840d8k.htm HTML

KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC.

SCHEDULE OF INVESTMENTS

AUGUST 31, 2020

(amounts in 000’s)

(UNAUDITED)

 

Description

   No. of
Shares/Units 		     Value  

Long-Term Investments — 134.1%

     

Equity Investments(1) — 126.4%

     

United States — 76.8%

     

Midstream Company(2) — 54.3%

     

Antero Midstream Corporation

     1,178      $ 7,978  

BP Midstream Partners LP(3)

     251        2,957  

Cheniere Energy Partners, L.P.(3)(4)

     74        2,678  

DCP Midstream, LP — Series A Preferred Units(3)(5)

     6,005        4,414  

Energy Transfer LP(3)

     1,235        7,930  

EnLink Midstream Partners, LP, — Series C Preferred Units(6)

     8,605        3,442  

Enterprise Products Partners L.P.(3)

     591        10,370  

Equitrans Midstream Corporation(4)(7)

     163        1,673  

Equitrans Midstream Corporation — Convertible Preferred Units(4)(7)(8)(9)

     238        4,815  

Kinder Morgan, Inc.(4)

     930        12,858  

KNOT Offshore Partners LP(10)

     422        5,218  

ONEOK, Inc.

     269        7,400  

Magellan Midstream Partners, L.P.(3)

     156        5,930  

MPLX LP(3)

     548        10,019  

Phillips 66 Partners LP(3)

     126        3,392  

Plains GP Holdings, L.P.(10)(11)

     695        5,078  

Plains GP Holdings, L.P. — Plains AAP, L.P.(8)(10)(11)(12)

     690        5,041  

Rattler Midstream LP(10)

     421        3,523  

Shell Midstream Partners, L.P.(3)

     333        3,461  

Targa Resources Corp.

     1,025        17,442  

TC PipeLines, LP(3)(4)

     217        6,581  

The Williams Companies, Inc.(4)

     1,347        27,970  
    

 

 

  
       160,170  
    

 

 

  

Renewable Infrastructure Company(2)(4) — 11.3%

     

Clearway Energy, Inc. — Class A

     231        5,569  

Clearway Energy, Inc. — Class C

     102        2,605  

Enviva Partners, LP(3)

     231        9,524  

NextEra Energy Partners, LP

     257        15,490  
    

 

 

  
       33,188  
    

 

 

  

Utility Company(2)(4) — 9.5%

     

Dominion Energy, Inc.

     54        4,267  

Eversource Energy

     48        4,131  

NextEra Energy, Inc.

     31        8,766  

Sempra Energy

     52        6,455  

Xcel Energy Inc.

     64        4,432  
    

 

 

  
       28,051  
    

 

 

  

Other Energy Company(2) — 1.7%

     

Phillips 66

     86        5,011  
    

 

 

  

Total United States (Cost — $320,470)

 

      226,420  
    

 

 

  

 

See accompanying notes to financial statements.

KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC.

SCHEDULE OF INVESTMENTS

AUGUST 31, 2020

(amounts in 000’s)

(UNAUDITED)

 

Description

   No. of
Shares/Units 		     Value  

Canada — 35.7%

     

Renewable Infrastructure Company(2)(4) — 16.1%

     

Brookfield Renewable Partners L.P.

     343      $ 15,575  

Brookfield Renewable Corporation — Class A

     134        6,843  

Innergex Renewable Energy Inc.

     750        12,949  

Northland Power Inc.

     337        9,445  

TransAlta Renewables Inc.

     228        2,787  
    

 

 

  
       47,599  
    

 

 

  

Midstream Company(2) — 15.0%

     

AltaGas Ltd.(4)

     130        1,682  

Enbridge Inc.

     267        8,554  

Gibson Energy Inc.

     106        1,927  

Keyera Corp.

     362        6,617  

Pembina Pipeline Corporation

     544        13,459  

TC Energy Corporation(4)

     258        12,060  
    

 

 

  
       44,299  
    

 

 

  

Utility Company(2)(4) — 3.0%

     

Algonquin Power & Utilities Corp.

     641        8,858  
    

 

 

  

Other Energy Company(2) — 1.6%

     

Jupiter Resources Inc.(8)(9)(13)

     1,229        4,607  
    

 

 

  

Total Canada (Cost — $108,342)

 

      105,363  
    

 

 

  

United Kingdom — 6.6%

     

Renewable Infrastructure Company(2)(4) — 5.3%

     

Atlantica Sustainable Infrastructure plc

     520        15,612  
    

 

 

  

Utility Company(2)(4) — 1.3%

     

SSE plc

     225        3,786  
    

 

 

  

Total United Kingdom (Cost — $14,504)

 

      19,398  
    

 

 

  

Portugal — 1.9%

     

Utility Company(2)(4) — 1.2%

     

EDP — Energias de Portugal, S.A.

     672        3,399  
    

 

 

  

Renewable Infrastructure Company(2)(4) — 0.7%

     

EDP Renováveis, S.A.

     129        2,207  
    

 

 

  

Total Portugal (Cost — $5,244)

 

      5,606  
    

 

 

  

Italy — 1.6%

     

Utility Company(2)(4) — 1.6%

     

Enel — Società per Azioni (Cost — $4,359)

     527        4,774  
    

 

 

  

Spain — 1.5%

     

Utility Company(2)(4) — 1.5%

     

Iberdrola, S.A. (Cost — $4,069)

     356        4,474  
    

 

 

  

Denmark — 1.2%

     

Renewable Infrastructure Company(2)(4) — 1.2%

     

Orsted A/S (Cost — $3,231)

     25        3,580  
    

 

 

  

 

See accompanying notes to financial statements.

KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC.

SCHEDULE OF INVESTMENTS

AUGUST 31, 2020

(amounts in 000’s)

(UNAUDITED)

 

Description

                        No. of Shares/
Units		      Value  

Switzerland — 0.9%

              

Infrastructure Company(2) — 0.9%

              

Flughafen Zurich AG (Cost — $2,037)

 

      17      $ 2,558  
             

 

 

  

Germany — 0.2%

              

Utility Company(2)(4) — 0.2%

              

E.ON SE (Cost — $607)

              52        615  
             

 

 

  

Total Equity Investments (Cost — $462,863)

 

      372,788  
             

 

 

  
             Interest
Rate		     Maturity
Date		      Principal
Amount		         

Debt Instruments — 7.7%

              

United States — 7.7%

              

Midstream Company(2) — 7.7%

              

Antero Midstream Corporation

         5.375 %      9/15/24      $ 2,701        2,492  

Antero Midstream Corporation(8)

         5.750       3/1/27        2,814        2,512  

Antero Midstream Corporation(8)

         5.750       1/15/28        1,266        1,130  

Blue Racer Midstream, LLC(8)

         6.625       7/15/26        4,000        3,520  

Buckeye Partners, L.P.

         6.375       1/22/78        6,040        4,258  

Crestwood Holdings LLC(8)

         (14  )       3/6/23        6,733        4,354  

EQM Midstream Partners, LP(4)

         6.500       7/15/48        515        520  

Tallgrass Energy Partners, LP(4)(8)

         4.750       10/1/23        2,000        1,960  

Tallgrass Energy Partners, LP(4)(8)

         6.000       3/1/27        1,307        1,222  

Tallgrass Energy Partners, LP(4)(8)

         5.500       1/15/28        1,000        915  
             

 

 

  

Total Debt Investments (Cost — $24,654)

 

      22,883  
             

 

 

  

Total Long-Term Investments (Cost — $487,517)

 

      395,671  
             

 

 

  
                          No. of Shares/
Units		         

Short-Term Investment — Money Market Fund — 6.0%

 

      

JPMorgan 100% U.S. Treasury Securities Money Market Fund — Capital Shares, 0.02%(15) (Cost — $17,644)

 

      17,644        17,644  
             

 

 

  

Total Investments — 140.1% (Cost — $505,161)

 

      413,315  
             

 

 

  

Debt

 

      (84,515 ) 

Mandatory Redeemable Preferred Stock at Liquidation Value

 

      (40,000 ) 

Other Assets in Excess of Other Liabilities

 

      6,132  
             

 

 

  

Net Assets Applicable to Common Stockholders

 

    $ 294,932  
             

 

 

  

 

  (1)

Unless otherwise noted, equity investments are common units/common shares.

 

  (2)

Refer to the “Glossary of Key Terms” for the definitions.

 

  (3)

Securities are treated as a publicly-traded partnership for RIC qualification purposes. To qualify as a RIC for tax purposes, the Fund may directly invest up to 25% of its total assets in equity and debt securities of entities treated as publicly-traded partnerships. The Fund had 16.0% of its total assets invested in publicly-traded partnerships at August 31, 2020. It is the Fund’s intention to be treated as a RIC for tax purposes.

 

See accompanying notes to financial statements.

KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC.

SCHEDULE OF INVESTMENTS

AUGUST 31, 2020

(amounts in 000’s)

(UNAUDITED)

 

  (4)

For the purposes of the Fund’s investment policies, it considers NextGen companies to be Energy Companies and Infrastructure Companies that are meaningfully participating in, or benefitting from, the Energy Transition and includes Renewable Infrastructure Companies, Green Utilities and Midstream Companies that primarily own and/or operate Midstream Assets related to natural gas or liquefied natural gas.

 

  (5)

Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units. Distributions are payable at a rate of 7.375% per annum through December 15, 2022. On and after December 15, 2022, distributions on the Series A Preferred Units will be payable at a rate equal to the three-month LIBOR plus 5.148% per annum.

 

  (6)

Series C Preferred Units are cumulative redeemable perpetual units. Distributions on the Series C Preferred Units are payable at a rate of 6.0% per annum through December 15, 2022. On and after December 15, 2022, the rate will be based on three-month LIBOR, determined quarterly, plus 4.11%.

 

  (7)

On April 10, 2019, the Fund purchased, in a private placement, Series A Convertible Preferred Units (“EQM Convertible Preferred Units”) from EQM Midstream Partners, LP (“EQM”). On June 17, 2020, Equitrans Midstream Corporation (“ETRN”) and EQM completed their previously announced stock-for-unit merger. In connection with the merger, a portion of the EQM Convertible Preferred Units held by the Fund were exchanged for newly-issued ETRN Convertible Preferred Shares. The ETRN Convertible Preferred Shares will be convertible on a one-for-one basis into common shares of ETRN after April 10, 2021. The ETRN Convertible Preferred Shares pay quarterly cash distributions based on an annual rate of 9.75% through March 31, 2024.

 

  (8)

The Fund’s ability to sell this security is subject to certain legal or contractual restrictions. As of August 31, 2020, the aggregate value of restricted securities held by the Fund was $30,076 (7.1% of total assets), which included $20,654 of Level 2 securities and $9,422 of Level 3 securities. See Note 7 — Restricted Securities.

 

  (9)

Fair valued security. See Notes 2 and 3 in Notes to Financial Statements.

 

 

(10)

This company is structured like an MLP, but is not treated as a publicly-traded partnership for regulated investment company (“RIC”) qualification purposes.

 

(11)

The Fund believes that it is an affiliate of Plains AAP, L.P. (“PAGP-AAP”) and Plains GP Holdings, L.P. (“PAGP”). See Note 5 — Agreements and Affiliations.

 

(12)

The Fund’s ownership of PAGP-AAP is exchangeable on a one-for-one basis into either PAGP shares or Plains All American Pipeline, L.P. (“PAA”) units at the Fund’s option. The Fund values its PAGP-AAP investment on an “as exchanged” basis based on the higher public market value of either PAGP or PAA. As of August 31, 2020, the Fund’s PAGP-AAP investment is valued at PAGP’s closing price. See Notes 3 and 7 in Notes to Financial Statements.

 

(13)

Security is non-income producing.

 

(14)

Floating rate first lien senior secured term loan. Security pays interest at a rate of LIBOR + 750 basis points (7.66% as of August 31, 2020).

 

(15)

The rate indicated is the yield as of August 31, 2020.

 

See accompanying notes to financial statements.