0001752724-23-241198.txt : 20231027 0001752724-23-241198.hdr.sgml : 20231027 20231027165843 ACCESSION NUMBER: 0001752724-23-241198 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230831 FILED AS OF DATE: 20231027 DATE AS OF CHANGE: 20231027 PERIOD START: 20231130 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: 231356200 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, Inc. 811-21593 0001500096 549300H9ZCLGQEKXQY57 811 Main Street 14th Floor Houston 77002 713-493-2020 KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE S001500096 549300MHDTCUZBV2Y068 2023-11-30 2023-08-31 N 524497748.74 112364665.12 412133083.62 0.00000000 0.00000000 12000000 0.00000000 0.00000000 0.00000000 18235495.93 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 41491425 1250664.03 N Plains GP Holdings LP 549300O56BSKRD8FAM12 Plains GP Holdings, L.P. Class A 72651A207 1434319.00000000 NS USD 23006476.76000000 5.582293117048 Long EC CORP US N 1 N N N Pembina Pipeline Corporation 5493002W3L9YICM6FU21 Pembina Pipeline Corporation 706327103 559000.00000000 NS USD 17373720.00000000 4.215560626047 Long EC CORP CA N 1 N N N Western Midstream Partners LP N/A Western Midstream Partners, LP 958669103 329260.00000000 NS USD 8787949.40000000 2.132308652052 Long EC CORP US N 1 N N N Enterprise Products Partners L.P. K4CDIF4M54DJZ6TB4Q48 Enterprise Products Partners L.P. 293792107 1226500.00000000 NS USD 32637165.00000000 7.919083979701 Long EC CORP US N 1 N N N Enlink Midstream LLC 54930000GY1H533OBE23 EnLink Midstream, LLC 29336T100 241700.00000000 NS USD 3006748.00000000 0.729557543303 Long EC CORP US N 1 N N N Nextera Energy Partners LP 5493008F4ZOQFNG3WN54 Nextera Energy Partners, L.P. 65341B106 293998.00000000 NS USD 14664620.24000000 3.558224472345 Long EC CORP US N 1 N N N Plains GP Holdings LP 549300O56BSKRD8FAM12 Plains GP Holdings, L.P. - Plains AAP, L.P. Class A 72651A207 689558.00000000 NS USD 11060510.32000000 2.683722991333 Long EC CORP US N 2 N N N THE OPTIONS CLEARING CORPORATION 549300CII6SLYGKNHA04 Phillips 66 N/A -100.00000000 NS USD -17000.00000000 -0.00412488117 Short DE CORP US N 1 JONES TRADING INSTITUTIONAL SERVICES LLC N/A Call Written Phillips 66 PSX 230915C00115000 100.00000000 115.00000000 USD 2023-09-15 XXXX 5326.91000000 N N N Cheniere Energy Partners L P 5493005UEC8AZ34LDV29 Cheniere Energy Partners, L.P. 16411Q101 118700.00000000 NS USD 6160530.00000000 1.494791426567 Long EC CORP US N 1 N N N Sempra PBBKGKLRK5S5C0Y4T545 Sempra Energy 816851109 247800.00000000 NS USD 17400516.00000000 4.222062409346 Long EC CORP US N 1 N N N THE OPTIONS CLEARING CORPORATION 549300CII6SLYGKNHA04 Targa Resources N/A -240.00000000 NS USD -100800.00000000 -0.02445811899 Short DE CORP US N 1 JONES TRADING INSTITUTIONAL SERVICES LLC N/A Call Written Targa Resources TRGP 230915C00082500 100.00000000 83.00000000 USD 2023-09-15 XXXX -70604.02000000 N N N Enterprise Products Partners L.P. K4CDIF4M54DJZ6TB4Q48 Enterprise Product Partners, LP 7.25% Preferred 293792107 17637.00000000 NS USD 17658340.77000000 4.284621029424 Long EC CORP US N 3 N N N Enbridge Inc. 98TPTUM4IVMFCZBCUR27 Enbridge, Inc. 29250N105 403515.00000000 NS USD 14155306.20000000 3.434644478348 Long EC CORP CA N 1 N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 Energy Transfer LP 6.25%, Perpetual Maturity 29273VAH3 2000000.00000000 PA USD 1840000.00000000 0.446457727644 Long DBT CORP US N 2 2099-12-31 Floating 9.65418065 N N N N N N Exxon Mobil Corporation J3WHBG0MTS7O8ZVMDC91 Exxon Mobil Corporation 30231G102 119700.00000000 NS USD 13309443.00000000 3.229404172820 Long EC CORP US N 1 N N N JP Morgan Trust I 549300DM5WZMCZZ70R78 JPMORGAN 100% US TREASURY SEC MONEY MARKET 4812A0375 8294363.34000000 PA USD 8294363.34000000 2.012544896213 Long STIV RF US N 1 N N N TransAlta Corporation GJZNVO2UY6DNFNIYH321 TRANSALTA CORP. 89346D107 438877.00000000 NS 4212008.53000000 1.022002041914 Long EC CORP CA N 1 N N N N/A N/A Streamline Innovations Private Preferred N/A 1375000.00000000 NS USD 6737500.00000000 1.634787467392 Long EP CORP US Y 3 N N N Aris Water Solutions Inc N/A Aris Water Solutions, Inc. Class A 04041L106 139500.00000000 NS USD 1428480.00000000 0.346606486296 Long EC CORP US N 1 N N N Clearway Energy Inc 549300LHAZ9HA9G3XC48 Clearway Energy, Inc. 18539C204 258499.00000000 NS USD 6403020.23000000 1.553629272796 Long EC CORP US N 1 N N N Nextera Energy Inc N/A NextEra Energy, Inc. 65339F101 240161.00000000 NS USD 16042754.80000000 3.892615137587 Long EC CORP US N 1 N N N Xcel Energy Inc LGJNMI9GH8XIDG5RCM61 Xcel Energy, Inc. 98389B100 69700.00000000 NS USD 3981961.00000000 0.966183293276 Long EC CORP US N 1 N N N Antero Midstream Corporation N/A Antero Midstream Corporation 03676B102 538500.00000000 NS USD 6526620.00000000 1.583619529563 Long EC CORP US N 1 N N N Hess Midstream LP N/A Hess Midstream LP Class A 428103105 275418.00000000 NS USD 7959580.20000000 1.931313091898 Long EC CORP US N 1 N N N Kinder Morgan, Inc. 549300WR7IX8XE0TBO16 Kinder Morgan, Inc. 49456B101 582562.00000000 NS USD 10031717.64000000 2.434096664088 Long EC CORP US N 1 N N N MPLX LP 5493000CZJ19CK4P3G36 MPLX LP 55336V100 673100.00000000 NS USD 23484459.00000000 5.698270760920 Long EC CORP US N 1 N N N Atlantica Sustainable Infrastructure PLC 549300ITBBGKJ651R879 Atlantica Sustainable Infrastructure plc G0751N103 810908.00000000 NS USD 18204884.60000000 4.417234462250 Long EC CORP US N 1 N N N Brookfield Renewable Partners L P VA8DFMRI2GY8Y7V79H93 Brookfield Renewable Partners L.P. G16258108 421324.00000000 NS USD 10710056.08000000 2.598688750227 Long EC CORP CA N 1 N N N Duke Energy Corp I1BZKREC126H0VB1BL91 Duke Energy Corporation 26441C204 75800.00000000 NS USD 6731040.00000000 1.633220012544 Long EC CORP US N 1 N N N TC Energy Corp 549300UGKOFV2IWJJG27 TC Energy Corporation 87807B107 288686.00000000 NS USD 10427338.32000000 2.530090093328 Long EC CORP CA N 1 N N N Oneok Inc. 2T3D6M0JSY48PSZI1Q41 ONEOK, Inc. 682680103 363472.00000000 NS USD 23698374.40000000 5.750175208416 Long EC CORP US N 1 N N N Cheniere Energy Inc MIHC87W9WTYSYZWV1J40 Cheniere Energy, Inc. 16411R208 230200.00000000 NS USD 37568640.00000000 9.115657415806 Long EC CORP US N 1 N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 Energy Transfer, L.P. 29273V100 2631694.00000000 NS USD 35448918.18000000 8.601327966352 Long EC CORP US N 1 N N N DT Midstream Inc N/A DT Midstream, Inc. 23345M107 122400.00000000 NS USD 6400296.00000000 1.552968265440 Long EC CORP US N 1 N N N THE OPTIONS CLEARING CORPORATION 549300CII6SLYGKNHA04 Phillips 66 N/A -100.00000000 NS USD -3000.00000000 -0.00072792020 Short DE CORP US N 1 JONES TRADING INSTITUTIONAL SERVICES LLC N/A Call Written Phillips 66 PSX 230915C00120000 100.00000000 120.00000000 USD 2023-09-15 XXXX 7327.00000000 N N N Targa Resources Co 5493003QENHHS261UR94 Targa Resources Corp. 87612G101 475628.00000000 NS USD 41022915.00000000 9.953802941436 Long EC CORP US N 1 N N N The Williams Companies, Inc. D71FAKCBLFS2O0RBPG08 Williams Companies, Inc. (The) 969457100 1308000.00000000 NS USD 45165240.00000000 10.95889696679 Long EC CORP US N 1 N N N Clearway Energy Inc 549300LHAZ9HA9G3XC48 Clearwater Energy, Inc. 18539C105 230606.00000000 NS USD 5405404.64000000 1.311567756832 Long EC CORP US N 1 N N N Phillips 66 5493005JBO5YSIGK1814 Phillips 66 718546104 24100.00000000 NS USD 2751256.00000000 0.667564946699 Long EC CORP US N 1 N N N 2023-10-30 Kayne Anderson Kayne Anderson Sarah Criger VP, Fund Accounting XXXX NPORT-EX 2 ea164121_nportex.htm

 

KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC.
SCHEDULE OF INVESTMENTS
AUGUST 31, 2023
(amounts in 000’s, except number of option contracts)
(UNAUDITED)

Description

      

No. of
Shares/Units

  

Value

Long-Term Investments — 124.1%

      

 

  

Equity Investments(1) — 124.1%

      

 

  

Midstream Company(2) — 63.7%

      

 

  

Aris Water Solutions, Inc.

  

140

  

$

1,429

Enbridge Inc.(3)

  

404

  

 

14,155

Energy Transfer LP(4)

  

2,632

  

 

35,449

Energy Transfer LP, — Series A Preferred Units(4)(5)

  

2,000

  

 

1,840

EnLink Midstream, LLC

  

242

  

 

3,007

Enterprise Products Partners L.P.(4)

  

1,227

  

 

32,637

Enterprise Products Partners L.P. — Convertible Preferred Units(4)(6)(7)(8)

  

18

  

 

17,658

Hess Midstream LP(9)

  

275

  

 

7,960

MPLX LP(4)

  

673

  

 

23,484

ONEOK, Inc.(10)

  

363

  

 

23,698

Pembina Pipeline Corporation(3)

  

559

  

 

17,374

Plains GP Holdings, L.P.(9)

  

1,434

  

 

23,006

Plains GP Holdings, L.P. — Plains AAP, L.P.(6)(9)(11)

  

690

  

 

11,061

Targa Resources Corp.(12)

  

476

  

 

41,023

Western Midstream Partners, LP(4)

  

329

  

 

8,788
       

 

262,569

Natural Gas & LNG Infrastructure Company(2)(13) — 31.3%

      

 

  

Antero Midstream Corporation

  

539

  

 

6,527

Cheniere Energy, Inc.

  

230

  

 

37,569

Cheniere Energy Partners, L.P.(4)

  

119

  

 

6,160

DT Midstream, Inc.

  

122

  

 

6,400

Kinder Morgan, Inc.

  

583

  

 

10,032

Streamline Innovations Holdings, Inc. — Series C Preferred Shares(6)(7)(14)(15)(16)

  

1,375

  

 

6,738

TC Energy Corporation(3)

  

289

  

 

10,427

The Williams Companies, Inc.

  

1,308

  

 

45,165
       

 

129,018

Renewable Infrastructure Company(2)(13) — 13.5%

      

 

  

Atlantica Sustainable Infrastructure plc(3)

  

811

  

 

18,205

Brookfield Renewable Partners L.P.(3)(9)

  

421

  

 

10,710

Clearway Energy, Inc. — Class A

  

231

  

 

5,405

Clearway Energy, Inc. — Class C

  

258

  

 

6,403

NextEra Energy Partners, LP(9)

  

294

  

 

14,665
       

 

55,388

See accompanying notes to financial statements.

KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC.
SCHEDULE OF INVESTMENTS
AUGUST 31, 2023
(amounts in 000’s, except number of option contracts)
(UNAUDITED)

Description

      

No. of
Shares/Units

  

Value

Utility Company(2) — 11.7%

      

 

  

Duke Energy Corporation(13)

  

76

  

$

6,731

NextEra Energy, Inc.(13)

  

240

  

 

16,043

Sempra Energy(13)

  

248

  

 

17,400

TransAlta Corporation(3)(13)

  

439

  

 

4,212

Xcel Energy Inc.(13)

  

70

  

 

3,982
       

 

48,368

Other Energy Company(2) — 3.9%

      

 

  

Exxon Mobil Corporation

  

120

  

 

13,310

Phillips 66(12)

  

24

  

 

2,751
       

 

16,061

Total Long-Term Investments (Cost — $445,265)

      

 

511,404
       

 

  

Short-Term Investment — Money Market Fund — 2.0%

      

 

  

JPMorgan 100% U.S. Treasury Securities Money Market

      

 

  

Fund — Capital Shares, 5.23%(18) (Cost — $8,294)

  

8,294

  

 

8,294

Total Investments — 126.1% (Cost — $453,559)

      

$

519,698
 

Strike
Price

  

Expiration
Date

  

No. of
Contracts

  

Notional
Amount(17)

    

Liabilities

  

 

            

 

      

 

Call Option Contracts Written(16)

  

 

            

 

      

 

Midstream Company(2)

  

 

            

 

      

 

Targa Resources Corp.

  

$

82.50

  

9/15/23

  

240

  

$

2,070

  

(101

)
   

 

            

 

      

 

Other Energy Company(2)

  

 

            

 

      

 

Phillips 66

  

 

115.00

  

9/15/23

  

100

  

 

1,142

  

(17

)

Phillips 66

  

 

120.00

  

9/15/23

  

100

  

 

1,142

  

(3

)
   

 

            

 

    

(20

)

Total Call Option Contracts Written (Premiums Received — $63)

  

(121

)
 

 

  

 

Debt

  

 

(70,235

)

Mandatory Redeemable Preferred Stock at Liquidation Value

  

 

(41,491

)

Other Assets in Excess of Other Liabilities

  

 

4,282

 

Net Assets Applicable to Common Stockholders

  

$

412,133

 

____________

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

(2)    Refer to the Glossary of Key Terms for definitions.

(3)    Foreign security.

See accompanying notes to financial statements.

KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC.
SCHEDULE OF INVESTMENTS
AUGUST 31, 2023
(amounts in 000’s, except number of option contracts)
(UNAUDITED)

(4)    Securities are treated as a qualified publicly-traded partnership for regulated investment company (“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 qualified publicly-traded partnerships. It is the Fund’s intention to be treated as a RIC for tax purposes. As of August 31, 2023, the Fund had 24.0% of its total assets invested in qualified publicly-traded partnerships.

(5)    Energy Transfer LP (“ET”) Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“ET Series A Units”). ET Series A Units have a liquidation preference of $1,000 per unit and pay a quarterly distribution at a rate equal to the three-month SOFR plus a spread of 4.2896%. ET Series A Units are redeemable anytime at a redemption price of $1,000 per ET Series A Unit plus accumulated and unpaid distributions. As of August 31, 2023, the distribution rate was 9.654%.

(6)    The Fund’s ability to sell this security is subject to certain legal or contractual restrictions. As of August 31, 2023, the aggregate value of restricted securities held by the Fund was $35,457 (6.8% of total assets) which included $11,061 of Level 2 securities and $24,396 of Level 3 securities. See Note 7 — Restricted Securities.

(7)    Fair valued on a recurring basis using significant unobservable inputs (Level 3). See Notes 2 and 3 in Notes to Financial Statements.

(8)    Enterprise Products Partners L.P. (“EPD”) Series A Cumulative Convertible Preferred Units (“EPD Convertible Preferred Units”) are senior to the common units in terms of liquidation preference and priority of distributions, and pay a distribution of 7.25% per annum. The EPD Convertible Preferred Units are convertible into EPD common units at any time after September 29, 2025 at the liquidation preference amount divided by 92.5% of the 5-day volume weighted average price of EPD’s common units at such time.

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

(10)  On September 25, 2023, ONEOK, Inc. (“OKE”) completed its previously announced acquisition of Magellan Midstream Partners, L.P. (“MMP”) in which OKE acquired all of the outstanding units of MMP for cash and stock.

(11)  The Fund’s ownership of Plains AAP, L.P. (“PAGP-AAP”) is exchangeable on a one-for-one basis into either Plains GP Holdings, L.P. (“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, 2023, the Fund’s PAGP-AAP investment is valued at PAGP’s closing price. See Note 7 — Restricted Securities.

(12) Security or a portion thereof is segregated as collateral on option contracts written.

(13)  For 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. For these purposes, the Fund includes Natural Gas & LNG Infrastructure Companies, Renewable Infrastructure Companies and certain Utility Companies as NextGen Companies.

(14)  The Fund believes that it is an affiliate of Streamline Innovations Holdings, Inc. (“Streamline”). See Note 5 — Agreements and Affiliations.

(15)  Streamline is a privately-held company. Streamline Series C Preferred Shares are convertible into common equity at any time at the Fund’s option and are senior to common equity and Series A and Series B preferred shares in terms of liquidation preference and priority of distributions. Streamline Series C Preferred Shares are entitled to receive a quarterly dividend beginning on March 31, 2025, at an annual rate of 12.0%, which rate shall increase 2.0% each year thereafter to a maximum rate of 18.0%. Streamline Series C Preferred Shares are redeemable by Streamline at any time after March 31, 2025, at a price sufficient for the Fund to achieve a 20.0% internal rate of return on its investment.

See accompanying notes to financial statements.

KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC.
SCHEDULE OF INVESTMENTS
AUGUST 31, 2023
(amounts in 000’s, except number of option contracts)
(UNAUDITED)

(16)  Security is non-income producing.

(17)  The notional amount of call option contracts written is the product of (a) the number of contracts written, (b) 100 (each contract entitles the option holder to 100 units/shares) and (c) the market price of the underlying security as of August 31, 2023.

(18)  The rate indicated is the yield as of August 31, 2023.

At August 31, 2023, the Fund’s geographic allocation was as follows:

Geographic Location

      

% of Long-Term
Investments

United States

  

85.3%

Canada

  

11.1%

Europe/U.K.

  

3.6%

See accompanying notes to financial statements.