0002071691-26-008849.txt : 20260424 0002071691-26-008849.hdr.sgml : 20260424 20260424101659 ACCESSION NUMBER: 0002071691-26-008849 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20260228 FILED AS OF DATE: 20260424 DATE AS OF CHANGE: 20260424 PERIOD START: 20261130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEW YORK LIFE INVESTMENTS FUNDS TRUST CENTRAL INDEX KEY: 0001469192 ORGANIZATION NAME: EIN: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-22321 FILM NUMBER: 26891105 BUSINESS ADDRESS: STREET 1: 51 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 212 576 7000 MAIL ADDRESS: STREET 1: 51 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: MAINSTAY FUNDS TRUST DATE OF NAME CHANGE: 20090728 0001469192 S000045768 NYLI Cushing MLP Premier Fund C000142690 Class A CSHAX C000142691 Class C CSHCX C000142692 Class I CSHZX C000142693 Investor Class CSHNX NPORT-P 1 primary_doc.xml NPORT-P false 0001469192 XXXXXXXX S000045768 C000142690 C000142691 C000142692 C000142693 NEW YORK LIFE INVESTMENTS FUNDS TRUST 811-22321 0001469192 549300SQRLBSUG7RD002 51 Madison Avenue New York 10010 212-576-7000 NYLI Cushing MLP Premier Fund S000045768 549300ESFNCM867SRU33 2026-11-30 2026-02-28 N 1202803283.42 1355688.46 1201447594.96 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N Kinetik Holdings, Inc. N/A Kinetik Holdings, Inc. 02215L209 1250000.00000000 NS USD 56862500.00000000 4.732832313164 Long EC CORP US N 1 N N N Cheniere Energy, Inc. MIHC87W9WTYSYZWV1J40 Cheniere Energy, Inc. 16411R208 300000.00000000 NS USD 70719000.00000000 5.886149366535 Long EC CORP US N 1 N N N DT Midstream, Inc. N/A DT Midstream, Inc. 23345M107 510000.00000000 NS USD 70808400.00000000 5.893590390212 Long EC CORP US N 1 N N N EQT Corp. 4NT01YGM4X7ZX86ISY52 EQT Corp. 26884L109 350000.00000000 NS USD 21497000.00000000 1.789258232333 Long EC CORP US N 1 N N N Enbridge, Inc. 98TPTUM4IVMFCZBCUR27 Enbridge, Inc. 29250N105 800000.00000000 NS USD 42512000.00000000 3.538398193840 Long EC CORP CA N 1 N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 Energy Transfer LP 29273V100 5400000.00000000 NS USD 101736000.00000000 8.467785064182 Long US N 1 N N N Enterprise Products Partners LP K4CDIF4M54DJZ6TB4Q48 Enterprise Products Partners LP 293792107 1400000.00000000 NS USD 50596000.00000000 4.211253175939 Long US N 1 N N N Keyera Corp. 254900LXI62FUHZGH122 Keyera Corp. 493271100 100000.00000000 NS USD 3821000.00000000 0.318033014176 Long EC CORP CA N 1 N N N Kinder Morgan, Inc. 549300WR7IX8XE0TBO16 Kinder Morgan, Inc. 49456B101 1770000.00000000 NS USD 58887900.00000000 4.901412283567 Long EC CORP US N 1 N N N MPLX LP 5493000CZJ19CK4P3G36 MPLX LP 55336V100 1300000.00000000 NS USD 76622000.00000000 6.377473334785 Long US N 1 N N N NYLI U.S. Government Liquidity Fund 549300Y3ZLEL13IJCK58 NYLI U.S. Government Liquidity Fund 56064L488 44229385.80000000 NS USD 44229385.80000000 3.681341240811 Long STIV RF US N 1 N N N Marathon Petroleum Corp. 3BNYRYQHD39K4LCKQF12 Marathon Petroleum Corp. 56585A102 100000.00000000 NS USD 19821000.00000000 1.649759846634 Long EC CORP US N 1 N N N ONEOK, Inc. 2T3D6M0JSY48PSZI1Q41 ONEOK, Inc. 682680103 700000.00000000 NS USD 57939000.00000000 4.822432559110 Long EC CORP US N 1 N N N Pembina Pipeline Corp. 5493002W3L9YICM6FU21 Pembina Pipeline Corp. 706327103 1280000.00000000 NS USD 56307200.00000000 4.686613068785 Long EC CORP CA N 1 N N N Phillips 66 5493005JBO5YSIGK1814 Phillips 66 718546104 170000.00000000 NS USD 26236100.00000000 2.183707396815 Long EC CORP US N 1 N N N Plains GP Holdings LP 549300O56BSKRD8FAM12 Plains GP Holdings LP, Class A 72651A207 2610000.00000000 NS USD 58829400.00000000 4.896543157336 Long EC CORP US N 1 N N N Solaris Energy Infrastructure, Inc. 529900MTK3C8Y8TIIC10 Solaris Energy Infrastructure, Inc. 83418M103 28949.00000000 NS USD 1436738.87000000 0.119583981525 Long EC CORP US N 1 N N N South Bow Corp. 2549000XS5TAFA3YF943 South Bow Corp. 83671M105 860000.00000000 NS USD 27700600.00000000 2.305602018448 Long EC CORP CA N 1 N N N Targa Resources Corp. 5493003QENHHS261UR94 Targa Resources Corp. 87612G101 500000.00000000 NS USD 117900000.00000000 9.813162096672 Long EC CORP US N 1 N N N TC Energy Corp. 549300UGKOFV2IWJJG27 TC Energy Corp. 87807B107 920000.00000000 NS USD 59220400.00000000 4.929087231804 Long EC CORP CA N 1 N N N Western Midstream Partners LP N/A Western Midstream Partners LP 958669103 1100000.00000000 NS USD 45749000.00000000 3.807823178631 Long US N 1 N N N Williams Cos., Inc. (The) D71FAKCBLFS2O0RBPG08 Williams Cos., Inc. (The) 969457100 1250000.00000000 NS USD 93400000.00000000 7.773955384471 Long EC CORP US N 1 N N N Keyera Corp. 254900LXI62FUHZGH122 Keyera Corp. 493271100 1410000.00000000 NS 53813716.51000000 4.479073139414 Long EC CORP CA N 1 N N N Canadian Dollar N/A Canadian Dollar N/A 3485138.87000000 OU Currencies 2554993.49000000 0.212659586711 Long STIV CA N 1 N N N 2026-03-30 NEW YORK LIFE INVESTMENTS FUNDS TRUST Jack Benintende Jack Benintende Treasurer XXXX NPORT-EX 2 Cushing.htm CUSHING
NYLI Cushing® MLP Premier Fund
Portfolio of Investments February 28, 2026†^(Unaudited)
  Shares Value
Common Stocks 70.3%
Canadian Midstream 4.8% 
Canada 4.8%
Keyera Corp.  1,510,000 $    57,634,717
Crude Oil & Refined Products 2.3% 
Canada 2.3%
South Bow Corp.    860,000    27,700,600
Large Cap Diversified C Corps 36.4% 
Canada 13.1%
Enbridge, Inc.    800,000     42,512,000
Pembina Pipeline Corp.  1,280,000     56,307,200
TC Energy Corp.    920,000     59,220,400
United States 23.3%
Cheniere Energy, Inc.    300,000     70,719,000
Kinder Morgan, Inc.  1,770,000     58,887,900
ONEOK, Inc.    693,000     57,359,610
Williams Cos., Inc. (The)  1,250,000    93,400,000
    438,406,110
Natural Gas Gatherers & Processors 14.5% 
United States 14.5%
Kinetik Holdings, Inc. 1,250,000 56,862,500
Targa Resources Corp. 500,000 117,900,000
    174,762,500
Natural Gas Transportation & Storage 5.9% 
United States 5.9%
DT Midstream, Inc. 510,000 70,808,400
Oil Field Services 0.8% 
United States 0.8%
Solaris Energy Infrastructure, Inc. 200,000 9,926,000
Refiners 3.8% 
United States 3.8%
Marathon Petroleum Corp. 100,000 19,821,000
Phillips 66 170,000 26,236,100
    46,057,100
Upstream Corp 1.8% 
United States 1.8%
EQT Corp. 350,000 21,497,000
Total Common Stocks
(Cost $578,224,269) 		  846,792,427
  Shares   Value
MLP Investments and Related Companies 27.7%
Large Cap Diversified C Corps 4.9% 
United States 4.9%
Plains GP Holdings LP, Class A  2,610,000   $    58,829,400
Large Cap MLP 19.0% 
United States 19.0%
Energy Transfer LP  5,400,000      101,736,000
Enterprise Products Partners LP  1,400,000       50,596,000
MPLX LP  1,300,000      76,622,000
      228,954,000
Natural Gas Gatherers & Processors 3.8% 
United States 3.8%
Western Midstream Partners LP  1,100,000      45,749,000
Total MLP Investments and Related Companies
(Cost $213,551,383) 		    333,532,400
Short-Term Investment 2.6%
Affiliated Investment Company 2.6% 
United States 2.6%
NYLI U.S. Government Liquidity Fund 3.524% (a) 31,785,092      31,785,092
Total Short-Term Investment
(Cost $31,785,092) 		    31,785,092
Total Investments
(Cost $823,560,744) 		100.6%   1,212,109,919
Other Assets, Less Liabilities (0.6)   (7,615,251)
Net Assets 100.0%   $ 1,204,494,668
    
† Percentages indicated are based on Fund net assets.
^ Industry classifications may be different than those used for compliance monitoring purposes.
(a) Current yield as of February 28, 2026.
Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Fund during the period ended February 28, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Investment Companies Value,
Beginning
of Period 		Purchases
at Cost 		Proceeds
from
Sales 		Net
Realized
Gain/(Loss)
on Sales 		Change in
Unrealized
Appreciation/
(Depreciation) 		Value,
End of
Period 		Dividend
Income 		Other
Distributions 		Shares
End of
Period
NYLI U.S. Government Liquidity Fund $ 63,610 $ 84,436 $ (116,261) $ — $ — $ 31,785 $ 355 $ — 31,785
    
    
Abbreviation(s):
MLP—Master Limited Partnership
The following is a summary of the fair valuations according to the inputs used as of February 28, 2026, for valuing the Fund’s assets:
Description Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1) 		  Significant
Other
Observable
Inputs
(Level 2) 		  Significant
Unobservable
Inputs
(Level 3) 		  Total
Asset Valuation Inputs              
Investments in Securities (a)              
Common Stocks    $ 846,792,427   $ —   $ —      $ 846,792,427
MLP Investments and Related Companies    333,532,400   —   —      333,532,400
Short-Term Investment              
Affiliated Investment Company     31,785,092   —   —       31,785,092
Total Investments in Securities $ 1,212,109,919   $ —   $ —   $ 1,212,109,919
    
(a) For a complete listing of investments and their industries, see the Portfolio of Investments.
New York Life Investments Funds Trust
Notes to Portfolio of Investments February 28, 2026 (Unaudited)
Securities Valuation.
This report is exclusively for the NYLI Cushing® MLP Premier Fund (the "Fund").
Investments are usually valued as of the close of regular trading on the New York Stock Exchange (the "Exchange") (usually 4:00 p.m. Eastern time) on each day the Fund is open for business ("valuation date").
Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees of the Trust (the "Board") has designated New York Life Investment Management LLC as its Valuation Designee (the "Valuation Designee"). The Valuation Designee is responsible for performing fair valuations relating to all investments in the Fund’s portfolio for which market quotations are not readily available; periodically assessing and managing material valuation risks; establishing and applying fair value methodologies; testing fair valuation methodologies; evaluating and overseeing pricing services; ensuring appropriate segregation of valuation and portfolio management functions; providing quarterly, annual and prompt reporting to the Board, as appropriate; identifying potential conflicts of interest; and maintaining appropriate records. The Valuation Designee has established a valuation committee ("Valuation Committee") to assist in carrying out the Valuation Designee’s responsibilities and establish prices of securities for which market quotations are not readily available. The Fund’s and the Valuation Designee's policies and procedures ("Valuation Procedures") govern the Valuation Designee’s selection and application of methodologies for determining and calculating the fair value of Fund investments. The Valuation Designee may value the Fund's portfolio securities for which market quotations are not readily available and other Fund assets utilizing inputs from pricing services and other third-party sources. The Valuation Committee meets (in person, via electronic mail or via teleconference) on an ad-hoc basis to determine fair valuations and on a quarterly basis to review fair value events with respect to certain securities for which market quotations are not readily available, including valuation risks and back-testing results, and to preview reports to the Board.
The Valuation Committee establishes prices of securities for which market quotations are not readily available based on such methodologies and measurements on a regular basis after considering information that is reasonably available and deemed relevant by the Valuation Committee. The Board shall oversee the Valuation Designee and review fair valuation materials on a prompt, quarterly and annual basis and approve proposed revisions to the Valuation Procedures.
Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to the Valuation Procedures. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. "Fair value" is defined as the price the Fund would reasonably expect to receive upon selling an asset or liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the asset or liability. Fair value measurements are determined within a framework that establishes a three-tier hierarchy that maximizes the use of observable market data and minimizes the use of unobservable inputs to establish a classification of fair value measurements for disclosure purposes. "Inputs" refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, such as the risk inherent in a particular valuation technique used to measure fair value using a pricing model and/or the risk inherent in the inputs for the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions market participants would use in pricing the asset or liability based on the information available. The inputs or methodologies used for valuing assets or liabilities may not be an indication of the risks associated with investing in those assets or liabilities. The three-tier hierarchy of inputs is summarized below.
• Level 1—quoted prices (unadjusted) in active markets for an identical asset or liability
• Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.)
• Level 3—significant unobservable inputs (including the Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability)
The level of an asset or liability within the fair value hierarchy is based on the lowest level of an input, both individually and in the aggregate, that is significant to the fair value measurement. The aggregate value by input level of the Fund’s assets and liabilities as of February 28, 2026, is included at the end of the Portfolio of Investments.
The Fund may use third-party vendor evaluations, whose prices may be derived from one or more of the following standard inputs, among others:
• Benchmark yields • Reported trades
• Broker/dealer quotes • Issuer spreads
• Two-sided markets • Benchmark securities
• Bids/offers • Reference data (corporate actions or material event notices)
• Industry and economic events • Comparable bonds
• Monthly payment information  
An asset or liability for which a market quotation is not readily available is valued by methods deemed reasonable in good faith by the Valuation Committee, following the Valuation Procedures to represent fair value. Under these procedures, the Valuation Designee generally uses a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information. The Valuation Designee may also use an income-based valuation approach in which the anticipated future cash flows of the asset or liability are discounted to calculate fair value. Fair value represents a good faith approximation of the value of a security. Fair value determinations involve the consideration of a number of subjective factors, an analysis of applicable facts and circumstances and the exercise of judgment. As a result, it is possible that the fair value for a security determined in good faith in accordance with the Valuation Procedures may differ from valuations for the same security determined for other funds using their own valuation procedures. Although the Valuation Procedures are designed to value a security at the price the Fund may reasonably expect to receive upon the security's sale on the valuation date in an orderly transaction, there can be no assurance that any fair value determination thereunder would, in fact, approximate the amount that the Fund would actually realize upon the sale of the security or the price at which the security would trade if a reliable market price were readily available. During the period ended February 28, 2026, there were no material changes to the fair value methodologies.
Securities which may be valued in this manner include, but are not limited to: (i) a security for which trading has been halted or suspended or otherwise does not have a readily available market quotation on a given day; (ii) a debt security that has recently gone into default and for which there is not a current market quotation; (iii) a security of an issuer that has entered into a restructuring; (iv) a security that has been delisted from a national exchange; (v) a security subject to trading collars for which no or limited trading takes place; and (vi) a security whose principal market has been temporarily closed at a time when, under normal conditions, it would be open. Securities valued in this manner are generally categorized as Level 2 or 3 in the hierarchy.
Certain securities held by the Fund may principally trade in foreign markets. Events may occur between the time the foreign markets close and the time at which each of the Fund's net asset values ("NAVs") are calculated. These events may include, but are not limited to, situations relating to a single issuer in a market sector, significant fluctuations in U.S. or foreign markets, natural disasters, armed conflicts, governmental actions or other developments not tied directly to the securities markets. Should the Valuation Designee conclude that such events may have affected the accuracy of the last price of such securities reported on the local foreign market, the Valuation Designee may, pursuant to the Valuation Procedures, adjust the value of the local price to reflect the estimated impact on the price of such securities as a result of such events. In this instance, securities are generally categorized as Level 3 in the hierarchy. Additionally, certain foreign equity securities are also fair valued whenever the movement of a particular index exceeds certain thresholds. In such cases, the securities are fair valued by applying factors provided by a third-party vendor in accordance with the Valuation Procedures and are generally categorized as Level 2 in the hierarchy.
Equity securities, rights and warrants, if applicable, are valued at the last quoted sales prices as of the close of regular trading on the relevant exchange on each valuation date. Securities that are not traded on the valuation date are valued at the mean of the last quoted bid and ask prices. Prices are normally taken from the principal market in which each security trades. These securities are generally categorized as Level 1 in the hierarchy.
Investments in mutual funds, including money market funds, are valued at their respective NAVs at the close of business each day on the valuation date. These securities are generally categorized as Level 1 in the hierarchy.
Temporary cash investments acquired in excess of 60 days to maturity at the time of purchase are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities and ratings), both as furnished by independent pricing services. Temporary cash investments that mature in 60 days or less at the time of purchase ("Short-Term Investments") are valued using the amortized cost method of valuation, unless the use of such method would be inappropriate. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between such cost and the principal on maturity date. In such cases, amortized cost approximates the current fair value of a security. Securities valued using the amortized cost method are not valued using quoted prices in an active market and are generally categorized as Level 2 in the hierarchy.
The information above is not intended to reflect an exhaustive list of the methodologies that may be used to value portfolio investments. The Valuation Procedures permit the use of a variety of valuation methodologies in connection with valuing portfolio investments. The methodology used for a specific
type of investment may vary based on the market data available or other considerations. The methodologies summarized above may not represent the specific means by which portfolio investments are valued on any particular business day.