13F 申报指南13F 概念全攻略
什么是 SEC Form 13F 申报？美股机构大户持股全攻略
完整解读 Form 13F 申报规范、1 亿美元门槛与 45 天延迟申报机制，学会如何追踪顶级对冲基金与机构法人持仓动向。
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CIK: 0001329375
申报总市值
US$22.3亿
US$22.3亿
60 檔
24.6%
截至 Q4 2025 季度末，CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 的美股持仓估值约为 US$22.3亿，全数申报仓位共有 60 档。
CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 在 Q4 2025 进行了结构性的板块轮动与仓位换股。在开立 7 个全新仓位及加仓 19 档持股的同时，亦同步清仓 7 档并减仓 16 档标的。
在资产配置集中度方面，CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 的前 5 大核心持股（包含 ET, TRGP, MPLX 等）合计占整体申报市值的 24.6%，反映机构在主要关键仓位上的权重分布。
| # | 代码 | 标的名称 | 资产子类别 | 占比 | 占比变动 | 持仓量变化 | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ET | Energy Transfer LP | 股票-能源 | 7.56% | -0.86% | -2.68% | |
| 2 | TRGP | Targa Resources CORP | 股票-能源 | 7.21% | -0.73% | -0.15% | |
| 3 | MPLX | Mplx LP | 股票-能源 | 5.77% | -1.18% | +8.65% | |
| 4 | WMB | Williams Cos Inc | 股票-能源 | 5.50% | +0.09% | +32.91% | |
| 5 | OKE | Oneok Inc | 股票-能源 | 5.47% | -0.95% | +16.21% | |
| 6 | DTM | Dt Midstream Inc | 股票-能源 | 5.14% | -0.06% | +10.30% | |
| 7 | KMI | Kinder Morgan, Inc. | 股票-能源 | 4.52% | -1.60% | +8.94% | |
| 8 | PAGP | Plains Gp Holdings Lp-cl A | 股票-能源 | 4.09% | -0.04% | +3.91% | |
| 9 | TRP | Tc Energy CORP | 股票-能源 | 4.09% | -0.27% | -5.13% | |
| 10 | KNTK | Kinetik Holdings Inc | 股票-其他 | 3.81% | -0.70% | +86.50% | |
| 11 | LNG | Cheniere Energy Inc | 股票-能源 | 3.62% | -0.32% | -27.95% | |
| 12 | WES | Western Midstream Partners L | 股票-能源 | 3.49% | -0.95% | +21.24% | |
| 13 | EPD | Enterprise Products Partners | 股票-能源 | 3.30% | -0.69% | -10.04% | |
| 14 | PBA | Pembina Pipeline CORP | 股票-能源 | 2.94% | -0.61% | -13.96% | |
| 15 | HESM | Hess Midstream LP - Class A | 股票-其他 | 2.69% | — | -41.43% | |
| 16 | TLN | Talen Energy CORP | 股票-公用事业 | 2.52% | -0.09% | +10.67% | |
| 17 | CEG | Constellation Energy | 股票-公用事业 | 2.36% | +0.05% | -2.51% | |
| 18 | SOBO | South Bow CORP | 股票-其他 | 2.35% | -0.08% | -2.61% | |
| 19 | VST | Vistra CORP | 股票-公用事业 | 1.93% | +0.04% | -9.54% | |
| 20 | GEV | GE Vernova Inc | 股票-工业 | 1.79% | +0.47% | +2.35% | |
| 21 | ENB | Enbridge Inc | 股票-能源 | 1.65% | -0.36% | +19.94% | |
| 22 | NRG | Nrg Energy Inc | 股票-公用事业 | 1.48% | +0.16% | +6.58% | |
| 23 | PSX | Phillips 66 | 股票-能源 | 1.41% | -1.07% | -8.97% | |
| 24 | EQT | Eqt CORP | 股票-能源 | 1.06% | -0.31% | -2.55% | |
| 25 | FSLR | First Solar Inc | 股票-科技 | 1.02% | — | +9.68% | |
| 26 | PWR | Quanta Services Inc | 股票-工业 | 0.94% | +0.38% | +11.43% | |
| 27 | PRIM | Primoris Services CORP | 股票-工业 | 0.90% | -1.08% | EXIT | |
| 28 | MTZ | Mastec Inc | 股票-工业 | 0.88% | +0.41% | +50.00% | |
| 29 | NXT | Nextpower Inc-cl A | 股票-科技 | 0.81% | +0.11% | +52.34% | |
| 30 | MPC | Marathon Petroleum CORP | 股票-能源 | 0.77% | -1.16% | -3.51% | |
| 31 | CRWD | Crowdstrike Holdings Inc - A | 股票-科技 | 0.67% | +0.41% | +8.70% | |
| 32 | AGX | Argan Inc | 股票-工业 | 0.63% | +0.61% | +12.90% | |
| 33 | VNOM | Viper Energy Inc-cl A | 股票-能源 | 0.62% | -0.48% | EXIT | |
| 34 | BE | Bloom Energy Corp- A | 股票-工业 | 0.57% | +0.94% | -38.50% | |
| 35 | PANW | Palo Alto Networks Inc | 股票-科技 | 0.50% | +0.57% | — | |
| 36 | CVE | Cenovus Energy Inc | 股票-能源 | 0.45% | -0.04% | EXIT | |
| 37 | TXO | Txo Partners LP | 股票-其他 | 0.36% | -0.06% | — | |
| 38 | NET | Cloudflare Inc - Class A | 股票-科技 | 0.34% | +0.15% | — | |
| 39 | ETR | Entergy CORP | 股票-公用事业 | 0.33% | +0.16% | — | |
| 40 | IREN | IREN Limited | 股票-其他 | 0.33% | +0.05% | — | |
| 41 | AM | Antero Midstream CORP | 股票-能源 | 0.32% | +0.03% | -65.12% | |
| 42 | DOCN | Digitalocean Holdings Inc | 股票-科技 | 0.32% | +0.43% | — | |
| 43 | DLR | Digital Realty Trust Inc | 股票-房地产 | 0.30% | +0.08% | — | |
| 44 | DY | Dycom Industries Inc | 股票-工业 | 0.29% | +0.58% | — | |
| 45 | SNOW | Snowflake Inc | 股票-科技 | 0.29% | +0.17% | +76.92% | |
| 46 | MSFT | Microsoft CORP | 股票-科技 | 0.28% | — | — | |
| 47 | ORCL | Oracle CORP | 股票-科技 | 0.26% | — | — | |
| 48 | ARLP | Alliance Resource Partners | 股票-其他 | 0.25% | -0.10% | -20.75% | |
| 49 | NEE | Nextera Energy Inc | 股票-公用事业 | 0.23% | -0.25% | — | |
| 50 | PEG | Public Service Enterprise Gp | 股票-公用事业 | 0.23% | — | — |
| # | 代码 | 标的名称 | 占比变动 | 持仓量变化 | 异动类型 |
|---|---|---|---|---|---|
| 1 | KNTK | Kinetik Holdings Inc | +1.4% | +86.50% | 加仓 |
| 2 | WMB | Williams Cos Inc | +1.2% | +32.91% | 加仓 |
| 3 | MPLX | Mplx LP | +0.9% | +8.65% | 加仓 |
| 4 | OKE | Oneok Inc | +0.8% | +16.21% | 加仓 |
| 5 | DTM | Dt Midstream Inc | +0.8% | +10.30% | 加仓 |
| 6 | TRGP | Targa Resources CORP | +0.7% | -0.15% | 减仓 |
| 7 | WES | Western Midstream Partners L | +0.7% | +21.24% | 加仓 |
| 8 | PAGP | Plains Gp Holdings Lp-cl A | +0.4% | +3.91% | 加仓 |
| 9 | NXT | Nextpower Inc-cl A | +0.4% | +52.34% | 加仓 |
| 10 | MTZ | Mastec Inc | +0.3% | +50.00% | 加仓 |
| 11 | KMI | Kinder Morgan, Inc. | +0.3% | +8.94% | 加仓 |
| 12 | FSLR | First Solar Inc | +0.2% | +9.68% | 加仓 |
| 13 | PRIM | Primoris Services CORP | +0.2% | +47.67% | 加仓 |
| 14 | ENB | Enbridge Inc | +0.2% | +19.94% | 加仓 |
| 15 | GEV | GE Vernova Inc | +0.2% | +2.35% | 加仓 |
| 16 | AGX | Argan Inc | +0.2% | +12.90% | 加仓 |
| 17 | SNOW | Snowflake Inc | +0.1% | +76.92% | 加仓 |
| 18 | PWR | Quanta Services Inc | +0.1% | +11.43% | 加仓 |
| 19 | CVE | Cenovus Energy Inc | +0.1% | +33.72% | 加仓 |
| 20 | CEG | Constellation Energy | +0.1% | -2.51% | 减仓 |
| 21 | NRG | Nrg Energy Inc | +0.1% | +6.58% | 加仓 |
| 22 | TXO | Txo Partners LP | -0.1% | — | 不变 |
| 23 | ARLP | Alliance Resource Partners | -0.1% | -20.75% | 减仓 |
| 24 | SOBO | South Bow CORP | -0.1% | -2.61% | 减仓 |
| 25 | TRP | Tc Energy CORP | -0.1% | -5.13% | 减仓 |
| 26 | MPC | Marathon Petroleum CORP | -0.2% | -3.51% | 减仓 |
| 27 | PSX | Phillips 66 | -0.2% | -8.97% | 减仓 |
| 28 | EPD | Enterprise Products Partners | -0.2% | -10.04% | 减仓 |
| 29 | BE | Bloom Energy Corp- A | -0.3% | -38.50% | 减仓 |
| 30 | ET | Energy Transfer LP | -0.4% | -2.68% | 减仓 |
| 31 | GEL | Genesis Energy L.p. | -0.5% | -72.92% | 减仓 |
| 32 | VST | Vistra CORP | -0.6% | -9.54% | 减仓 |
| 33 | PBA | Pembina Pipeline CORP | -0.7% | -13.96% | 减仓 |
| 34 | AM | Antero Midstream CORP | -0.7% | -65.12% | 减仓 |
| 35 | HESM | Hess Midstream LP - Class A | -1.9% | -41.43% | 减仓 |
| 36 | LNG | Cheniere Energy Inc | -2.4% | -27.95% | 减仓 |
| 37 | EIX | Edison International | — | EXIT | 清仓 |
| 38 | MSTR | Strategy Inc | — | EXIT | 清仓 |
| 39 | ITRI | Itron Inc | — | EXIT | 清仓 |
| 40 | TMUS | T-mobile US Inc | — | EXIT | 清仓 |
| 41 | IREN | IREN Limited | — | NEW | 新建仓 |
| 42 | DOCN | Digitalocean Holdings Inc | — | NEW | 新建仓 |
| 43 | EQIX | Equinix Inc | — | EXIT | 清仓 |
| 44 | DY | Dycom Industries Inc | — | NEW | 新建仓 |
| 45 | MSFT | Microsoft CORP | — | NEW | 新建仓 |
| 46 | ORCL | Oracle CORP | — | NEW | 新建仓 |
| 47 | NTNX | Nutanix Inc - A | — | EXIT | 清仓 |
| 48 | MSI | Motorola Solutions Inc | — | EXIT | 清仓 |
| 49 | NEE | Nextera Energy Inc | — | NEW | 新建仓 |
| 50 | SEI | Solaris Energy Infrastructur | — | NEW | 新建仓 |
根据 SEC 官方 Form 13F 申报备案，CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 在 Q4 2025 季度的美股持仓总市值约为 US$22.3亿，共申报了 60 个公开持股仓位。
在 Q4 2025 季度，CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 按市值排列的前三大核心持股分别为：ET (7.6%)、TRGP (7.2%)、MPLX (5.8%)。其中最大持股仓位 ET 占据整体投资组合约 7.6% 的权重。
精选 AlphaSMO 大户持股与内部人交易深度分析，提升投资决策胜率
完整解读 Form 13F 申报规范、1 亿美元门槛与 45 天延迟申报机制，学会如何追踪顶级对冲基金与机构法人持仓动向。
本季最大新建仓标的
IREN
市值: US$577.9万
本季最大获利了结 / 清仓标的
EIX
前期市值: US$1050.3万
在 Q4 2025 季度中，CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 共进行了 49 项持仓异动，包含新建仓 7 个仓位、加仓 19 个仓位、减仓 16 个仓位以及清仓 7 个仓位。 其中最大新建仓标的为 IREN。 本季清仓仓位包含 EIX。
本页面所有持股数据均直接同步自美国证券交易委员会（SEC）EDGAR 官方系统之 13F-HR / 13F-HR/A 季度申报文件。AlphaSMO 通过机器解析 CUSIP 与个股对照，提供 100% 精准对齐的历史时序数据集，并支持 Schema.org 结构化数据格式。
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深入剖析 5% 股权申报门槛、13D 与 13G 之差异，以及最新 SEC 申报时程规范，洞察机构法人的激进投资动向。