13F 申報指南13F 觀念全攻略
什麼是 SEC Form 13F 申報？美股機構大戶持股全攻略
完整解讀 Form 13F 申報規範、1 億美元門檻與 45 天延遲申報機制，學會如何追蹤頂級對沖基金與機構法人持倉動向。
AlphaSMO 權威研究指南閱讀專題
CIK: 0001329375
申報總市值
US$22.3億
US$22.3億
60 檔
24.8%
Q2 2025 季度申報顯示，CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 揭露的美股組合總市值為 US$22.3億，涵蓋 60 個不同之權益投資部位。
Q2 2025 的申報記錄反映 CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 的板塊替換策略：機構本季推動了 26 筆增持與 22 筆減持，籌碼呈現明顯的結構重組。
整體而言，CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 的前 5 大持股（包含 ET, TRGP, LNG）貢獻了組合市值的 24.8%，形成該機構在 Q2 2025 季度的基本面基石。
本季最大新建倉標的
ARISUSD
市值: US$1064.3萬
本季最大獲利了結 / 清倉標的
SRE
前期市值: US$585.2萬
| # | 代號 | 標的名稱 | 資產子類別 | 佔比 | 佔比變動 | 持倉量變化 | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ET | Energy Transfer LP | 股票-能源 | 7.54% | -0.86% | -3.16% | |
| 2 | TRGP | Targa Resources CORP | 股票-能源 | 6.72% | -0.73% | -2.66% | |
| 3 | LNG | Cheniere Energy Inc | 股票-能源 | 6.49% | -0.32% | -15.01% | |
| 4 | OKE | Oneok Inc | 股票-能源 | 6.26% | -0.95% | +16.34% | |
| 5 | HESM | Hess Midstream LP - Class A | 股票-其他 | 5.12% | — | +25.84% | |
| 6 | MPLX | Mplx LP | 股票-能源 | 5.12% | -1.18% | -5.87% | |
| 7 | DTM | Dt Midstream Inc | 股票-能源 | 4.76% | -0.06% | -0.31% | |
| 8 | WMB | Williams Cos Inc | 股票-能源 | 4.33% | +0.09% | -11.58% | |
| 9 | KMI | Kinder Morgan, Inc. | 股票-能源 | 4.28% | -1.60% | -12.36% | |
| 10 | PAGP | Plains Gp Holdings Lp-cl A | 股票-能源 | 3.99% | -0.04% | -12.15% | |
| 11 | CEG | Constellation Energy | 股票-公用事業 | 3.74% | +0.05% | +175.86% | |
| 12 | PBA | Pembina Pipeline CORP | 股票-能源 | 3.67% | -0.61% | -5.50% | |
| 13 | TLN | Talen Energy CORP | 股票-公用事業 | 3.64% | -0.09% | +143.52% | |
| 14 | TRP | Tc Energy CORP | 股票-能源 | 3.53% | -0.27% | -19.83% | |
| 15 | EPD | Enterprise Products Partners | 股票-能源 | 3.52% | -0.69% | +1.64% | |
| 16 | VST | Vistra CORP | 股票-公用事業 | 3.19% | +0.04% | +18.33% | |
| 17 | WES | Western Midstream Partners L | 股票-能源 | 2.70% | -0.95% | -9.73% | |
| 18 | SOBO | South Bow CORP | 股票-其他 | 2.29% | -0.08% | +650.40% | |
| 19 | KNTK | Kinetik Holdings Inc | 股票-其他 | 1.99% | -0.70% | +32.03% | |
| 20 | PSX | Phillips 66 | 股票-能源 | 1.38% | -1.07% | +9.01% | |
| 21 | EQT | Eqt CORP | 股票-能源 | 1.19% | -0.31% | -46.94% | |
| 22 | GEV | GE Vernova Inc | 股票-工業 | 0.98% | +0.47% | +33.33% | |
| 23 | NRG | Nrg Energy Inc | 股票-公用事業 | 0.91% | +0.16% | +24.05% | |
| 24 | AM | Antero Midstream CORP | 股票-能源 | 0.85% | +0.03% | — | |
| 25 | MPC | Marathon Petroleum CORP | 股票-能源 | 0.82% | -1.16% | -1.19% | |
| 26 | ENB | Enbridge Inc | 股票-能源 | 0.79% | -0.36% | — | |
| 27 | CWEN | Clearway Energy Inc-c | 股票-公用事業 | 0.74% | — | -23.37% | |
| 28 | GEL | Genesis Energy L.p. | 股票-其他 | 0.68% | -0.13% | +60.27% | |
| 29 | PWR | Quanta Services Inc | 股票-工業 | 0.66% | +0.38% | +11.11% | |
| 30 | ARISUSD | Aris Water Solutions Inc-a | 股票-其他 | 0.62% | — | — | |
| 31 | VNOMUSD | Viper Energy Inc-cl A | 股票-其他 | 0.56% | — | — | |
| 32 | BE | Bloom Energy Corp- A | 股票-工業 | 0.55% | +0.94% | — | |
| 33 | FSLR | First Solar Inc | 股票-科技 | 0.53% | — | +77.42% | |
| 34 | MSTR | Strategy Inc | 股票-科技 | 0.47% | — | — | |
| 35 | TXO | Txo Partners LP | 股票-其他 | 0.46% | -0.06% | +307.69% | |
| 36 | ARLP | Alliance Resource Partners | 股票-其他 | 0.36% | -0.10% | -3.60% | |
| 37 | PANW | Palo Alto Networks Inc | 股票-科技 | 0.36% | +0.57% | +15.38% | |
| 38 | PRIM | Primoris Services CORP | 股票-工業 | 0.31% | -1.08% | EXIT | |
| 39 | NEE | Nextera Energy Inc | 股票-公用事業 | 0.31% | -0.25% | — | |
| 40 | ITRI | Itron Inc | 股票-科技 | 0.30% | — | — | |
| 41 | MTZ | Mastec Inc | 股票-工業 | 0.30% | +0.41% | +66.67% | |
| 42 | NXT | Nextpower Inc-cl A | 股票-科技 | 0.27% | +0.11% | +45.00% | |
| 43 | CVE | Cenovus Energy Inc | 股票-能源 | 0.27% | -0.04% | EXIT | |
| 44 | TMUS | T-mobile US Inc | 股票-通訊服務 | 0.26% | — | +35.71% | |
| 45 | CRWD | Crowdstrike Holdings Inc - A | 股票-科技 | 0.21% | +0.41% | -53.33% | |
| 46 | EQIX | Equinix Inc | 股票-房地產 | 0.18% | — | +33.33% | |
| 47 | SO | Southern Co/the | 股票-公用事業 | 0.18% | +0.12% | — | |
| 48 | DLR | Digital Realty Trust Inc | 股票-房地產 | 0.17% | +0.08% | +21.43% | |
| 49 | NET | Cloudflare Inc - Class A | 股票-科技 | 0.17% | +0.15% | — | |
| 50 | RSG | Republic Services Inc | 股票-工業 | 0.16% | — | — |
| # | 代號 | 標的名稱 | 佔比變動 | 持倉量變化 | 異動類型 |
|---|---|---|---|---|---|
| 1 | CEG | Constellation Energy | +2.8% | +175.86% | 加碼 |
| 2 | TLN | Talen Energy CORP | +2.6% | +143.52% | 加碼 |
| 3 | SOBO | South Bow CORP | +2% | +650.40% | 加碼 |
| 4 | VST | Vistra CORP | +1.5% | +18.33% | 加碼 |
| 5 | ARISUSD | Aris Water Solutions Inc-a | +0.6% | NEW | 新建倉 |
| 6 | BE | Bloom Energy Corp- A | +0.6% | NEW | 新建倉 |
| 7 | GEV | GE Vernova Inc | +0.5% | +33.33% | 加碼 |
| 8 | MSTR | Strategy Inc | +0.5% | NEW | 新建倉 |
| 9 | NRG | Nrg Energy Inc | +0.5% | +24.05% | 加碼 |
| 10 | HESM | Hess Midstream LP - Class A | +0.4% | +25.84% | 加碼 |
| 11 | TXO | Txo Partners LP | +0.3% | +307.69% | 加碼 |
| 12 | DTM | Dt Midstream Inc | +0.3% | -0.31% | 減碼 |
| 13 | FSLR | First Solar Inc | +0.3% | +77.42% | 加碼 |
| 14 | GEL | Genesis Energy L.p. | +0.3% | +60.27% | 加碼 |
| 15 | PWR | Quanta Services Inc | +0.2% | +11.11% | 加碼 |
| 16 | MTZ | Mastec Inc | +0.2% | +66.67% | 加碼 |
| 17 | NET | Cloudflare Inc - Class A | +0.2% | NEW | 新建倉 |
| 18 | PRIM | Primoris Services CORP | +0.1% | +40.82% | 加碼 |
| 19 | NXT | Nextpower Inc-cl A | +0.1% | +45.00% | 加碼 |
| 20 | KNTK | Kinetik Holdings Inc | +0.1% | +32.03% | 加碼 |
| 21 | AGX | Argan Inc | +0.1% | NEW | 新建倉 |
| 22 | PANW | Palo Alto Networks Inc | +0.1% | +15.38% | 加碼 |
| 23 | DLR | Digital Realty Trust Inc | +0.1% | +21.43% | 加碼 |
| 24 | MPC | Marathon Petroleum CORP | 0% | -1.19% | 減碼 |
| 25 | ITRI | Itron Inc | 0% | — | 不變 |
| 26 | TMUS | T-mobile US Inc | 0% | +35.71% | 加碼 |
| 27 | PSX | Phillips 66 | 0% | +9.01% | 加碼 |
| 28 | PAA | Plains All Amer Pipeline LP | -0.1% | -21.08% | 減碼 |
| 29 | S | Sentinelone Inc -class A | -0.1% | EXIT | 清倉 |
| 30 | CRWD | Crowdstrike Holdings Inc - A | -0.1% | -53.33% | 減碼 |
| 31 | VNOMUSD | Viper Energy Inc-cl A | -0.2% | — | 不變 |
| 32 | AMLP | Alerian Mlp ETF | -0.2% | EXIT | 清倉 |
| 33 | CLSK | Cleanspark Inc | -0.2% | EXIT | 清倉 |
| 34 | CORZ | Core Scientific Inc | -0.2% | EXIT | 清倉 |
| 35 | CWEN | Clearway Energy Inc-c | -0.2% | -23.37% | 減碼 |
| 36 | MSFT | Microsoft CORP | -0.4% | EXIT | 清倉 |
| 37 | SRE | Sempra | -0.4% | EXIT | 清倉 |
| 38 | EPD | Enterprise Products Partners | -0.5% | +1.64% | 加碼 |
| 39 | WMB | Williams Cos Inc | -0.6% | -11.58% | 減碼 |
| 40 | WES | Western Midstream Partners L | -0.7% | -9.73% | 減碼 |
| 41 | OKE | Oneok Inc | -0.7% | +16.34% | 加碼 |
| 42 | PBA | Pembina Pipeline CORP | -0.7% | -5.50% | 減碼 |
| 43 | KMI | Kinder Morgan, Inc. | -0.8% | -12.36% | 減碼 |
| 44 | MPLX | Mplx LP | -0.9% | -5.87% | 減碼 |
| 45 | ET | Energy Transfer LP | -1% | -3.16% | 減碼 |
| 46 | EQT | Eqt CORP | -1% | -46.94% | 減碼 |
| 47 | TRP | Tc Energy CORP | -1% | -19.83% | 減碼 |
| 48 | LNG | Cheniere Energy Inc | -1.2% | -15.01% | 減碼 |
| 49 | PAGP | Plains Gp Holdings Lp-cl A | -1.3% | -12.15% | 減碼 |
| 50 | TRGP | Targa Resources CORP | -1.7% | -2.66% | 減碼 |
根據 SEC 官方 Form 13F 申報備案，CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 在 Q2 2025 季度的美股持倉總市值約為 US$22.3億，共申報了 60 個公開持股部位。
在 Q2 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別為：ET (7.5%)、TRGP (6.7%)、LNG (6.5%)。其中最大持股部位 ET 佔據整體投資組合約 7.5% 的權重。
在 Q2 2025 季度中，CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 共進行了 48 項持倉異動，包含新建倉 5 個部位、加碼 21 個部位、減碼 16 個部位以及清倉 6 個部位。 其中最大新建倉標的為 ARISUSD。 本季清倉部位包含 SRE。
本頁面所有持股數據均直接同步自美國證券交易委員會（SEC）EDGAR 官方系統之 13F-HR / 13F-HR/A 季度申報文件。AlphaSMO 透過機器解析 CUSIP 與個股對照，提供 100% 精準對齊的歷史時序數據集，並支援 Schema.org 結構化資料格式。
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完整解讀 Form 13F 申報規範、1 億美元門檻與 45 天延遲申報機制，學會如何追蹤頂級對沖基金與機構法人持倉動向。
深入剖析 5% 股益申報門檻、13D 與 13G 之差異，以及最新 SEC 申報時程規範，洞察機構法人的激進投資動向。