Phillip Goldstein (pictured below), Andrew Dakos and Steven Samuels‘ Bulldog Investors recently filed a Form 13G with the Securities and Exchange Commission in which it reported increasing its stake in Cushing Renaissance Fund (NYSE:SZC). The activist hedge fund, which holds positions in several income funds, currently owns 604,191 common shares of Cushing Renaissance Fund, which account for 9.98% of its outstanding stock. Previously, the fund’s stake comprised 210,136 shares according to its latest 13F filing, for the reporting period of March 31.
Cushing Renaissance Fund is a closed-end management investment company. Over the last 12 months, the company’s stock is down by 11.88%. The fund pays out a quarterly dividend of $0.41, providing investors an annual dividend yield of over 10%. The fund has a reported net asset value (NAV) of $17.89 per outstanding shares as of August 4, while its shares currently trade at $15.65. Its NAV has fallen from $25 at its inception and from a peak of over $32 in the third quarter of 2014. The fund invests the majority of its managed assets in energy companies, as well as energy-intensive companies in sectors such as manufacturing, engineering, and construction.
Bulldog Investors was the only hedge fund in our database with a position in Cushing Renaissance Fund (NYSE:SZC) as of March 31.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Bulldog Investors | 305,826 | 298,365 | 305,826 | 298,365 | 604,191 | |
| Bulldog Investors Group of Funds | 305,826 | 0 | 305,826 | 0 | 305,826 | |
| Phillip Goldstein | 305,826 | 298,365 | 305,826 | 298,365 | 604,191 | |
| Andrew Dakos | 305,826 | 298,365 | 305,826 | 298,365 | 604,191 | |
| Steven Samuels | 305,826 | 298,365 | 305,826 | 298,365 | 604,191 |
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Page 1 of 1 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Cushing Renaissance Fund
(Name of Issuer)
Common Stock
(Title of Class of Securities)
231647108
(CUSIP Number)
08/8/16
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
_X_ Rule 13d-1(b)
__ Rule 13d-1(c)
__ Rule 13d-1(d)
CUSIP No.: 693742108
1. Names of Reporting Persons. I.R.S. Identification Nos. of
above persons (entities only).
Bulldog Investors 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
305,826
6. Shared Voting Power
298,365
7. Sole Dispositive Power
305,826
8. Shared Dispositive Power
298,365
9. Aggregate Amount Beneficially Owned by Each Reporting Person
604,191 – (footnote 1)
10. Check if the Aggregate Amount in Row ( 9 ) Excludes Certain
Shares (See Instructions)
N/A
11. Percent of Class Represented by Amount in Row ( 9 )
9.98%
12. Type of Reporting Person (See Instructions)
IA
1. Names of Reporting Persons. I.R.S. Identification Nos. of
above persons (entities only).
Bulldog Investors Group of Funds
2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a) X
(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
305,826
6. Shared Voting Power
0
7. Sole Dispositive Power
305,826
8. Shared Dispositive Power
0
9. Aggregate Amount Beneficially Owned by Each Reporting Person
305,826 – (footnote 1)
10. Check if the Aggregate Amount in Row ( 9 ) Excludes Certain
Shares (See Instructions)
N/A
11. Percent of Class Represented by Amount in Row ( 9 )
5.05%
12. Type of Reporting Person (See Instructions)
IC
1. Names of Reporting Persons. I.R.S. Identification Nos. of
above persons (entities only).
Phillip Goldstein
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
USA
Number of Shares Beneficially Owned by Each reporting Person
With:
5. Sole Voting Power
305,826
6. Shared Voting Power
298,365
7. Sole Dispositive Power
305,826
8. Shared Dispositive Power
298,365
9. Aggregate Amount Beneficially Owned by Each Reporting Person
604,191 – (footnote 1)
10. Check if the Aggregate Amount in Row ( 9 ) Excludes Certain
Shares (See Instructions)
N/A
11. Percent of Class Represented by Amount in Row ( 9 )
9.98%
12. Type of Reporting Person (See Instructions)
IN
1. Names of Reporting Persons. I.R.S. Identification Nos. of
above persons (entities only).
Andrew Dakos
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
USA
Number of Shares Beneficially Owned by Each reporting Person
With:
5. Sole Voting Power
305,826
6. Shared Voting Power
298,365
7. Sole Dispositive Power
305,826
8. Shared Dispositive Power
298,365
9. Aggregate Amount Beneficially Owned by Each Reporting Person
604,191 – (footnote 1)
10. Check if the Aggregate Amount in Row ( 9 ) Excludes Certain
Shares (See Instructions)
N/A
11. Percent of Class Represented by Amount in Row ( 9 )
9.98%
12. Type of Reporting Person (See Instructions)
IN
1. Names of Reporting Persons. I.R.S. Identification Nos. of
above persons (entities only).
Steven Samuels
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
USA
Number of Shares Beneficially Owned by Each reporting Person
With:
5. Sole Voting Power
305,826
6. Shared Voting Power
298,365
7. Sole Dispositive Power
305,826
8. Shared Dispositive Power
298,365
9. Aggregate Amount Beneficially Owned by Each Reporting Person
604,191 – (footnote 1)
10. Check if the Aggregate Amount in Row ( 9 ) Excludes Certain
Shares (See Instructions)
N/A
11. Percent of Class Represented by Amount in Row ( 9 )
9.98%
12. Type of Reporting Person (See Instructions)
IN
Item 1.
(a) The Name of the Issuer is:
Cushing Renaissance Fund
(b) The Address of the Issuer’s Principal Executive Office is:
8117 PRESTON ROAD SUITE 440
DALLAS, TX 75225
Item 2.
(a) The names of the Persons Filing are:
Bulldog Investors LLC, Bulldog Investors group of Funds, Phillip
Goldstein, Andrew Dakos and Steven Samuels
(b) The address of principal place of business and
principal office is:
Park 80 West, 250 Pehle Ave. Suite 708
Saddle Brook, NJ 07663
(c) Citizenship or Place of Organization: Delaware
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 231647108
Item 3.
This statement is filed pursuant to 240.13d-1(b). The person filing is:
(e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).
Item 4.
(a) Amount beneficially owned: 604,191
(b) Percent of class: 9.98%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 305,826
(ii) Shared power to vote or to direct the vote: 298,365
(iii) Sole power to dispose or to direct the disposition
of: 305,826
(iv) Shared power to dispose or to direct the disposition
of: 298,365
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following: ____.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Clients of Bulldog Investors, LLC are entitled to receive dividends
and sales proceeds.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security being Reported on by the Parent
Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the
Group.
As per the N-CSRS filing on 8/8/16, there were 6,054,188 shares
of common stock outstanding as of 5/31/16. The percentages set
forth herein were derived using such number. Phillip Goldstein, Andrew
Dakos and Steven Samuels own Bulldog Investors, LLC, a registered
investment adviser. As of August 8, 2016, Bulldog Investors, LLC
is deemed to be the beneficial owner of 604,191 shares of SZC by
virtue of Bulldog Investors, LLC’s power to direct the vote of, and
dispose of, these shares. These 604,191 shares of SZC include
305,826 shares (representing 5.05% of SZC’s outstanding shares)
that are beneficially owned by the following entities over which
Messrs. Goldstein, Dakos and Samuels exercise control: Opportunity
Partners LP, Calapasas West Partners LP, Full Value Special
Situations Fund LP, Full Value Offshore Fund Ltd., Full Value
Partners LP, Opportunity Income Plus Fund LP, and MCM Opportunity
Partners LP (collectively, Bulldog Investors Group of Funds).
Bulldog Investors Group of Funds may be deemed to constitute
a group. All other shares included in the aforementioned 604,191
shares of SZC owned by Bulldog Investors, LLC (solely by virtue of
its power to sell or direct the vote of these shares) are also
beneficially owned by clients of Bulldog Investors, LLC who are not
members of any group. The total number of these “non-group” shares
is 298,365 shares (representing 4.93% of SZC’s outstanding shares).
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
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 Ss 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.
By: /s/
Name: Phillip Goldstein
Title: Principal, Bulldog Investors LLC
Date: August 9, 2016
By: /s/
Name: Andrew Dakos
Title: Principal, Bulldog Investors LLC
Date: August 9, 2016
By: /s/
Name: Steven Samuels
Title: Principal, Bulldog Investors LLC
Date: August 9, 2016
Bulldog Investors, LLC
By: /s/ Andrew Dakos
Andrew Dakos, Member
Date: August 9, 2016
Footnote 1: The reporting persons disclaim beneficial ownership
except to the extent of any pecuniary interest therein.
Exhibit A: Agreement to make joint filings.
Agreement made as of the 9th day of June 2016, by and among
Bulldog Investors, LLC, Phillip Goldstein, Andrew Dakos, and
Steven Samuels.
WHEREAS, Rule 13d-1(k)(1) under the Securities Exchange Act of 1934 provides
that whenever two or more persons are required to file a statement containing
the information required by Schedule 13G with respect to the same securities,
only one such statement need be filed, so long as, among other things, such
filing includes as an exhibit an agreement among such persons that such a
statement is filed on behalf of each of them;
WHEREAS, in connection with certain holdings of Cushing Renaissance Fund
(“SZC”), each of the parties to this Agreement is required to file a
statement containing the information required by Schedule 13G with respect
to the same holdings of SZC;
NOW THEREFORE, the parties hereby agree that one statement containing the
information required by Schedule 13G shall be filed on behalf of each party
hereto.
IN WITNESS WHEREOF, this Agreement has been duly executed by the parties
hereto as of the day and year first written above.
By:/s/ Phillip Goldstein By:/s/ Andrew Dakos
Phillip Goldstein Andrew Dakos
BULLDOG INVESTORS, LLC
By: /s/ Steven Samuels By: /s/ Andrew Dakos
Steven Samuels Andrew Dakos, Member
