Institutional Manager · CIK 0001329375
CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT
DALLAS, TX · File #028-12384
Latest AUM
$1.74B
Positions
60
Top-10 Concentration
53.9%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| REDUCE | HESS MIDSTREAM LP | HESM | -960,000 | -$33.1M | -$115,860 |
| ADD | KINETIK HOLDINGS INC | KNTK | +855,000 | +$30.8M | -$6.6M |
| REDUCE | CHENIERE ENERGY INC | LNG | -126,000 | -$24.5M | -$18.3M |
| ADD | WILLIAMS COS INC | 969457100 | +395,000 | +$23.7M | -$3.9M |
| ADD | ONEOK INC NEW | OKE | +181,000 | +$13.3M | +$591,965 |
| ADD | WESTERN MIDSTREAM PARTNERS L | WES | +270,000 | +$10.7M | +$266,889 |
| EXITED | EDISON INTL | 281020107 | -190,000 | -$10.5M | $0 |
| REDUCE | ANTERO MIDSTREAM CORP | AM | -590,000 | -$10.5M | -$1.5M |
| ADD | DT MIDSTREAM INC | DTM | +70,000 | +$8.4M | +$4.5M |
| REDUCE | PEMBINA PIPELINE CORP | PPLOF | -218,588 | -$8.3M | -$3.8M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202560 pos · $1.74B
- 13F HOLDINGS REPORTQ/E Sep 202559 pos · $1.76B
- 13F HOLDINGS REPORTQ/E Jun 202568 pos · $1.73B
- 13F HOLDINGS REPORTQ/E Mar 202561 pos · $1.62B
- 13F HOLDINGS REPORTQ/E Dec 202468 pos · $1.52B
- 13F HOLDINGS REPORTQ/E Sep 202463 pos · $1.36B
- 13F HOLDINGS REPORTQ/E Jun 202459 pos · $1.26B
- 13F HOLDINGS REPORTQ/E Mar 202456 pos · $1.18B
- 13F HOLDINGS REPORTQ/E Dec 202359 pos · $987.0M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | ENERGY TRANSFER L P | ET-PI | 7,991,600 | $131.8M | 7.66% |
| 2 | TARGA RES CORP | TRGP | 681,300 | $125.7M | 7.31% |
| 3 | MPLX LP | MPLXP | 1,883,800 | $100.5M | 5.85% |
| 4 | WILLIAMS COS INC | 969457100 | 1,595,100 | $95.9M | 5.58% |
| 5 | ONEOK INC NEW | OKE | 1,297,916 | $95.4M | 5.55% |
| 6 | DT MIDSTREAM INC | DTM | 749,300 | $89.7M | 5.21% |
| 7 | KINDER MORGAN INC DEL | EP-PC | 2,865,000 | $78.8M | 4.58% |
| 8 | PLAINS GP HLDGS L P | PAGP | 3,725,000 | $71.3M | 4.15% |
| 9 | TC ENERGY CORP | TRPRF | 1,295,500 | $71.3M | 4.14% |
| 10 | KINETIK HOLDINGS INC | KNTK | 1,843,400 | $66.5M | 3.86% |
| 11 | CHENIERE ENERGY INC | LNG | 324,800 | $63.1M | 3.67% |
| 12 | WESTERN MIDSTREAM PARTNERS L | WES | 1,540,900 | $60.9M | 3.54% |
| 13 | ENTERPRISE PRODS PARTNERS L | 293792107 | 1,792,500 | $57.5M | 3.34% |
| 14 | PEMBINA PIPELINE CORP | PPLOF | 1,347,100 | $51.3M | 2.98% |
| 15 | HESS MIDSTREAM LP | HESM | 1,357,200 | $46.8M | 2.72% |
| 16 | TALEN ENERGY CORP | TLN | 117,200 | $43.9M | 2.55% |
| 17 | CONSTELLATION ENERGY CORP | CEG | 116,700 | $41.2M | 2.40% |
| 18 | SOUTH BOW CORP | SOBO | 1,490,500 | $40.9M | 2.38% |
| 19 | VISTRA CORP | VST | 208,700 | $33.7M | 1.96% |
| 20 | GE VERNOVA INC | GEV | 47,850 | $31.3M | 1.82% |