CIK: 0001329375
Total reported value
$2.0B
Reporting period: 2026-03-31 · Number of holdings: 66
CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT disclosed 66 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.0B and a quarterly turnover rate of 31.3%.
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CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT's disclosed holdings carry a Herfindahl concentration index of 0.039 — mathematically equivalent to about 26 equally-sized positions, well below its 66 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.27), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 9% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim CEG
-29.1% -$18.1M
Trim TLN
-23.8% -$15.4M
Add ENB
+66.5% $25.5M
Add MPC
+73.1% $21.5M
Add SEI
+536.1% $19.1M
Trim SOBO
-41.9% -$12.1M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TRGP | Targa Resources CORP | Stock-Energy | 8.10% | +0.89% | -4.26% | |
| 2 | ET | Energy Transfer LP | Stock-Energy | 7.64% | +0.08% | +0.08% | |
| 3 | WMB | Williams Cos INC | Stock-Energy | 6.13% | +0.62% | +6.58% | |
| 4 | MPLX | Mplx LP | Stock-Energy | 5.25% | -0.52% | -1.31% | |
| 5 | DTM | Dt Midstream INC | Stock-Energy | 4.85% | -0.29% | -2.96% | |
| 6 | OKE | Oneok INC | Stock-Energy | 4.79% | — | -17.57% | |
| 7 | KMI | Kinder Morgan INC | Stock-Energy | 4.52% | — | -4.98% | |
| 8 | KNTK | Kinetik Holdings INC | Stock-Other | 4.49% | +0.68% | +1.66% | |
| 9 | PAGP | Plains Gp Holdings Lp-cl A | Stock-Energy | 4.16% | +0.07% | -7.11% | |
| 10 | TRP | Tc Energy CORP | Stock-Energy | 3.97% | -0.12% | -1.15% | |
| 11 | LNG | Cheniere Energy INC | Stock-Energy | 3.93% | +0.31% | -13.85% | |
| 12 | WES | Western Midstream Partners L | Stock-Energy | 3.42% | -0.07% | +8.83% | |
| 13 | EPD | Enterprise Products Partners | Stock-Energy | 3.27% | -0.03% | -2.62% | |
| 14 | PBA | Pembina Pipeline CORP | Stock-Energy | 3.01% | +0.07% | +0.74% | |
| 15 | ENB | Enbridge INC | Stock-Energy | 2.68% | +1.03% | +66.50% | |
| 16 | MPC | Marathon Petroleum CORP | Stock-Energy | 1.73% | +0.96% | +73.09% | |
| 17 | PSX | Phillips 66 | Stock-Energy | 1.62% | +0.21% | -5.66% | |
| 18 | SOBO | South Bow CORP | Stock-Other | 1.43% | -0.92% | -41.93% | |
| 19 | TLN | Talen Energy CORP | Stock-Utilities | 1.41% | -1.11% | -23.81% | |
| 20 | VST | Vistra CORP | Stock-Utilities | 1.37% | -0.56% | -12.03% | |
| 21 | EQT | Eqt CORP | Stock-Energy | 1.27% | +0.21% | +17.14% | |
| 22 | NRG | Nrg Energy INC | Stock-Utilities | 1.23% | — | +5.25% | |
| 23 | CEG | Constellation Energy | Stock-Utilities | 1.14% | -1.22% | -29.13% | |
| 24 | MTZ | Mastec INC | Stock-Industrials | 1.13% | +0.25% | +0.57% | |
| 25 | SEI | Solaris Energy Infrastructur | Stock-Energy | 1.09% | +0.93% | +536.07% | |
| 26 | PRIM | Primoris Services CORP | Stock-Industrials | 1.08% | +0.18% | +19.68% | |
| 27 | GEV | GE Vernova INC | Stock-Industrials | 1.04% | -0.75% | -49.84% | |
| 28 | PWR | Quanta Services INC | Stock-Industrials | 1.03% | +0.09% | -2.56% | |
| 29 | AGX | Argan INC | Stock-Industrials | 1.02% | +0.39% | +8.57% | |
| 30 | BE | Bloom Energy Corp- A | Stock-Industrials | 0.91% | +0.34% | +17.39% | |
| 31 | NXT | Nextpower Inc-cl A | Stock-Tech | 0.85% | +0.04% | -12.27% | |
| 32 | APC | Arko Petroleum CORP | Stock-Other | 0.63% | +0.63% | NEW | |
| 33 | SUNC | Sunococorp LLC | Stock-Other | 0.61% | +0.61% | NEW | |
| 34 | DY | Dycom Industries INC | Stock-Industrials | 0.60% | +0.31% | +140.00% | |
| 35 | CRWD | Crowdstrike Holdings INC - A | Stock-Tech | 0.58% | — | +20.00% | |
| 36 | PANW | Palo Alto Networks INC | Stock-Tech | 0.57% | — | +53.19% | |
| 37 | DOCN | Digitalocean Holdings INC | Stock-Tech | 0.56% | +0.24% | +13.97% | |
| 38 | EE | Excelerate Energy Inc-a | Stock-Other | 0.54% | +0.54% | NEW | |
| 39 | NET | Cloudflare INC - Class A | Stock-Tech | 0.51% | +0.17% | +66.67% | |
| 40 | VNOM | Viper Energy Inc-cl A | Stock-Energy | 0.48% | — | -26.52% | |
| 41 | NEE | Nextera Energy INC | Stock-Utilities | 0.44% | +0.21% | +90.00% | |
| 42 | TXO | Txo Partners LP | Stock-Other | 0.36% | — | — | |
| 43 | ETR | Entergy CORP | Stock-Utilities | 0.35% | — | — | |
| 44 | WTTR | Select Water Solutions INC | Stock-Other | 0.32% | +0.32% | NEW | |
| 45 | DLR | Digital Realty Trust INC | Stock-Real Estate | 0.30% | — | — | |
| 46 | XLE | Ss Energy Select Sector | ETF-Other | 0.30% | +0.30% | NEW | |
| 47 | MWH | Solv Energy Inc-cl A | Stock-Other | 0.30% | +0.30% | NEW | |
| 48 | WBI | Waterbridge Infrastruc-cl A | Stock-Other | 0.27% | +0.27% | NEW | |
| 49 | IREN | Iren LTD F | Stock-Other | 0.27% | — | +2.61% | |
| 50 | ARLP | Alliance Resource Partners | Stock-Other | 0.26% | — | — |
Performance for Q3 2026
+0.5%
Performance Last 4 Quarters
+36.2%
Based on 52% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 66 | $2.0B | 31 | |
| 2025-12-31 | 60 | $1.7B | 23 | |
| 2025-09-30 | 59 | $1.8B | 32 | |
| 2025-06-30 | 68 | $1.7B | 0 | |
| 2025-03-31 | 61 | $1.6B | 100 | |
| 2024-12-31 | 68 | $1.5B | 0 | |
| 2024-09-30 | 63 | $1.4B | 0 | |
| 2024-06-30 | 59 | $1.3B | 0 | |
| 2024-03-31 | 56 | $1.2B | 0 | |
| 2023-12-31 | 57 | $1.1B | 0 | |
| 2023-09-30 | 59 | $987.0M | 0 | |
| 2023-06-30 | 72 | $1.0B | 0 | |
| 2023-03-31 | 74 | $993.5M | 0 | |
| 2022-12-31 | 75 | $1.1B | 0 | |
| 2022-09-30 | 75 | $989.8M | 0 | |
| 2022-06-30 | 91 | $975.9M | 0 | |
| 2022-03-31 | 96 | $1.1B | 0 | |
| 2021-12-31 | 105 | $1.0B | 0 | |
| 2021-09-30 | 110 | $1.0B | 0 | |
| 2021-06-30 | 113 | $1.1B | 30 | |
| 2021-03-31 | 115 | $894.1M | 34 | |
| 2020-12-31 | 127 | $901.6M | 42 | |
| 2020-09-30 | 107 | $694.1M | 30 | |
| 2020-06-30 | 137 | $884.9M | 42 | |
| 2020-03-31 | 117 | $710.9M | 96 | |
| 2019-12-31 | 133 | $1.8B | 20 | |
| 2019-09-30 | 115 | $2.0B | 100 | |
| 2019-06-30 | 95 | $2.6B | 0 | |
| 2019-03-31 | 106 | $2.9B | 49 | |
| 2018-12-31 | 120 | $2.4B | 57 | |
| 2018-09-30 | 124 | $3.4B | 33 | |
| 2018-06-30 | 134 | $3.3B | 42 | |
| 2018-03-31 | 143 | $2.9B | 37 | |
| 2017-12-31 | 171 | $3.3B | 24 | |
| 2017-09-30 | 173 | $3.1B | 36 | |
| 2017-06-30 | 140 | $3.0B | 39 | |
| 2017-03-31 | 145 | $3.6B | 31 | |
| 2016-12-31 | 138 | $3.3B | 32 | |
| 2016-09-30 | 148 | $3.1B | 28 | |
| 2016-06-30 | 137 | $2.8B | 43 | |
| 2016-03-31 | 135 | $2.2B | 38 | |
| 2015-12-31 | 152 | $2.3B | 47 | |
| 2015-09-30 | 149 | $2.6B | 48 | |
| 2015-06-30 | 170 | $3.8B | 19 | |
| 2015-03-31 | 164 | $3.9B | 37 | |
| 2014-12-31 | 183 | $3.9B | 50 | |
| 2014-09-30 | 206 | $4.8B | 24 | |
| 2014-06-30 | 203 | $4.3B | 30 | |
| 2014-03-31 | 187 | $3.4B | 31 | |
| 2013-12-31 | 178 | $3.0B | 30 | |
| 2013-09-30 | 168 | $2.6B | 25 | |
| 2013-06-30 | 149 | $2.4B | 0 |
CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT's most significant position changes for 2026-03-31: Sold out: Hess Midstream LP - Class A (HESM); Sold out: First Solar INC (FSLR); New buy: Arko Petroleum CORP (APC); New buy: Sunococorp LLC (SUNC); New buy: Excelerate Energy Inc-a (EE).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ENB | Enbridge INC | +1% | +66.50% | Add |
| 2 | MPC | Marathon Petroleum CORP | +1% | +73.09% | Add |
| 3 | SEI | Solaris Energy Infrastructur | +0.9% | +536.07% | Add |
| 4 | TRGP | Targa Resources CORP | +0.9% | -4.26% | Trim |
| 5 | KNTK | Kinetik Holdings INC | +0.7% | +1.66% | Add |
| 6 | WMB | Williams Cos INC | +0.6% | +6.58% | Add |
| 7 | AGX | Argan INC | +0.4% | +8.57% | Add |
| 8 | BE | Bloom Energy Corp- A | +0.3% | +17.39% | Add |
| 9 | LNG | Cheniere Energy INC | +0.3% | -13.85% | Trim |
| 10 | DY | Dycom Industries INC | +0.3% | +140.00% | Add |
| 11 | MTZ | Mastec INC | +0.3% | +0.57% | Add |
| 12 | DOCN | Digitalocean Holdings INC | +0.2% | +13.97% | Add |
| 13 | PSX | Phillips 66 | +0.2% | -5.66% | Trim |
| 14 | EQT | Eqt CORP | +0.2% | +17.14% | Add |
| 15 | NEE | Nextera Energy INC | +0.2% | +90.00% | Add |
| 16 | PRIM | Primoris Services CORP | +0.2% | +19.68% | Add |
| 17 | NET | Cloudflare INC - Class A | +0.2% | +66.67% | Add |
| 18 | PWR | Quanta Services INC | +0.1% | -2.56% | Trim |
| 19 | ET | Energy Transfer LP | +0.1% | +0.08% | Add |
| 20 | PAGP | Plains Gp Holdings Lp-cl A | +0.1% | -7.11% | Trim |
| 21 | PBA | Pembina Pipeline CORP | +0.1% | +0.74% | Add |
| 22 | NXT | Nextpower Inc-cl A | 0% | -12.27% | Trim |
| 23 | KMI | Kinder Morgan INC | — | -4.98% | Trim |
| 24 | EPD | Enterprise Products Partners | 0% | -2.62% | Trim |
| 25 | WES | Western Midstream Partners L | -0.1% | +8.83% | Add |
| 26 | TRP | Tc Energy CORP | -0.1% | -1.15% | Trim |
| 27 | DTM | Dt Midstream INC | -0.3% | -2.96% | Trim |
| 28 | CVE | Cenovus Energy INC | -0.4% | -93.48% | Trim |
| 29 | MPLX | Mplx LP | -0.5% | -1.31% | Trim |
| 30 | VST | Vistra CORP | -0.6% | -12.03% | Trim |
| 31 | GEV | GE Vernova INC | -0.8% | -49.84% | Trim |
| 32 | SOBO | South Bow CORP | -0.9% | -41.93% | Trim |
| 33 | TLN | Talen Energy CORP | -1.1% | -23.81% | Trim |
| 34 | CEG | Constellation Energy | -1.2% | -29.13% | Trim |
| 35 | HESM | Hess Midstream LP - Class A | — | EXIT | Sold out |
| 36 | FSLR | First Solar INC | — | EXIT | Sold out |
| 37 | APC | Arko Petroleum CORP | — | NEW | New buy |
| 38 | SUNC | Sunococorp LLC | — | NEW | New buy |
| 39 | EE | Excelerate Energy Inc-a | — | NEW | New buy |
| 40 | WTTR | Select Water Solutions INC | — | NEW | New buy |
| 41 | XLE | Ss Energy Select Sector | — | NEW | New buy |
| 42 | MWH | Solv Energy Inc-cl A | — | NEW | New buy |
| 43 | WBI | Waterbridge Infrastruc-cl A | — | NEW | New buy |
| 44 | AMLP | Alerian Mlp ETF | — | NEW | New buy |
| 45 | MSFT | Microsoft CORP | — | EXIT | Sold out |
| 46 | STRL | Sterling Infrastructure INC | — | NEW | New buy |
| 47 | DUK | Duke Energy CORP | — | NEW | New buy |
| 48 | ORCL | Oracle CORP | — | EXIT | Sold out |
| 49 | PEG | Public Service Enterprise Gp | — | EXIT | Sold out |
| 50 | ✓ | Cyberark Software LTD | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-28 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-27 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-20 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-24 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-21 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-21 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-22 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-24 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-18 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-26 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-10-25 | Amendment | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-20 | Amendment | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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