Filed: 7/14/2025ACC: 0001085146-25-003787
📋 What this filing means
CUSHING ASSET MANAGEMENT, LP DBA NXG INVESTMENT MANAGEMENT filed this quarterly 13F‑HR report disclosing 60 equity positions with a total reported market value of $1.73B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
60
Positions
$1.73B
Total AUM (reported)
37M
Total Shares
Allocation by class
COM$960.78M55.7%
COM UT LTD PTN$130.22M7.5%
COM NEW$129.83M7.5%
CL A SHS$88.47M5.1%
COM UNIT REP LTD$88.38M5.1%
COMMON STOCK$82.25M4.8%
LTD PARTNR INT A$68.84M4.0%
Portfolio Concentration
Top 3$358.20M20.7%
4–10$584.82M33.9%
11–25$593.81M34.4%
Rest$189.48M11.0%
Top 3 weight
20.7%
Top 10 weight
54.6%
Voting Authority Distribution
Total shares with voting rights: 37M
Sole
Full voting authority
37M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole60
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings60
Rows:
ENERGY TRANSFER L P
SOLEShares7.18M
TypeSH
Market value$130.22M
7.54%
Sole
7.18M
Shared
0.00
None
0.00
TARGA RES CORP
SOLEShares666.30K
TypeSH
Market value$115.99M
6.72%
Sole
666.30K
Shared
0.00
None
0.00
CHENIERE ENERGY INC
SOLEShares459.90K
TypeSH
Market value$111.99M
6.49%
Sole
459.90K
Shared
0.00
None
0.00
ONEOK INC NEW
SOLEShares1.32M
TypeSH
Market value$108.15M
6.26%
Sole
1.32M
Shared
0.00
None
0.00
HESS MIDSTREAM LP
SOLEShares2.30M
TypeSH
Market value$88.47M
5.12%
Sole
2.30M
Shared
0.00
None
0.00
MPLX LP
SOLEShares1.72M
TypeSH
Market value$88.38M
5.12%
Sole
1.72M
Shared
0.00
None
0.00
DT MIDSTREAM INC
SOLEShares748.30K
TypeSH
Market value$82.25M
4.76%
Sole
748.30K
Shared
0.00
None
0.00
WILLIAMS COS INC
SOLEShares1.19M
TypeSH
Market value$74.81M
4.33%
Sole
1.19M
Shared
0.00
None
0.00
KINDER MORGAN INC DEL
SOLEShares2.51M
TypeSH
Market value$73.92M
4.28%
Sole
2.51M
Shared
0.00
None
0.00
PLAINS GP HLDGS L P
SOLEShares3.54M
TypeSH
Market value$68.84M
3.99%
Sole
3.54M
Shared
0.00
None
0.00
CONSTELLATION ENERGY CORP
SOLEShares200K
TypeSH
Market value$64.55M
3.74%
Sole
200K
Shared
0.00
None
0.00
PEMBINA PIPELINE CORP
SOLEShares1.69M
TypeSH
Market value$63.28M
3.67%
Sole
1.69M
Shared
0.00
None
0.00
TALEN ENERGY CORP
SOLEShares216K
TypeSH
Market value$62.81M
3.64%
Sole
216K
Shared
0.00
None
0.00
TC ENERGY CORP
SOLEShares1.25M
TypeSH
Market value$61.01M
3.53%
Sole
1.25M
Shared
0.00
None
0.00
ENTERPRISE PRODS PARTNERS L
SOLEShares1.96M
TypeSH
Market value$60.70M
3.52%
Sole
1.96M
Shared
0.00
None
0.00
VISTRA CORP
SOLEShares284K
TypeSH
Market value$55.04M
3.19%
Sole
284K
Shared
0.00
None
0.00
WESTERN MIDSTREAM PARTNERS L
SOLEShares1.20M
TypeSH
Market value$46.59M
2.70%
Sole
1.20M
Shared
0.00
None
0.00
SOUTH BOW CORP
SOLEShares1.53M
TypeSH
Market value$39.54M
2.29%
Sole
1.53M
Shared
0.00
None
0.00
KINETIK HOLDINGS INC
SOLEShares779K
TypeSH
Market value$34.31M
1.99%
Sole
779K
Shared
0.00
None
0.00
PHILLIPS 66
SOLEShares199.70K
TypeSH
Market value$23.82M
1.38%
Sole
199.70K
Shared
0.00
None
0.00
EQT CORP
SOLEShares353.26K
TypeSH
Market value$20.60M
1.19%
Sole
353.26K
Shared
0.00
None
0.00
GE VERNOVA INC
SOLEShares32K
TypeSH
Market value$16.93M
0.98%
Sole
32K
Shared
0.00
None
0.00
NRG ENERGY INC
SOLEShares98K
TypeSH
Market value$15.74M
0.91%
Sole
98K
Shared
0.00
None
0.00
ANTERO MIDSTREAM CORP
SOLEShares774K
TypeSH
Market value$14.67M
0.85%
Sole
774K
Shared
0.00
None
0.00
MARATHON PETE CORP
SOLEShares85.50K
TypeSH
Market value$14.20M
0.82%
Sole
85.50K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
ENERGY TRANSFER L PSOLE | COM UT LTD PTN | 7.18M | SH | $130.22M 7.54% | 7.18M | 0.00 | 0.00 |
TARGA RES CORPSOLE | COM | 666.30K | SH | $115.99M 6.72% | 666.30K | 0.00 | 0.00 |
CHENIERE ENERGY INCSOLE | COM NEW | 459.90K | SH | $111.99M 6.49% | 459.90K | 0.00 | 0.00 |
ONEOK INC NEWSOLE | COM | 1.32M | SH | $108.15M 6.26% | 1.32M | 0.00 | 0.00 |
HESS MIDSTREAM LPSOLE | CL A SHS | 2.30M | SH | $88.47M 5.12% | 2.30M | 0.00 | 0.00 |
MPLX LPSOLE | COM UNIT REP LTD | 1.72M | SH | $88.38M 5.12% | 1.72M | 0.00 | 0.00 |
DT MIDSTREAM INCSOLE | COMMON STOCK | 748.30K | SH | $82.25M 4.76% | 748.30K | 0.00 | 0.00 |
WILLIAMS COS INCSOLE | COM | 1.19M | SH | $74.81M 4.33% | 1.19M | 0.00 | 0.00 |
KINDER MORGAN INC DELSOLE | COM | 2.51M | SH | $73.92M 4.28% | 2.51M | 0.00 | 0.00 |
PLAINS GP HLDGS L PSOLE | LTD PARTNR INT A | 3.54M | SH | $68.84M 3.99% | 3.54M | 0.00 | 0.00 |
CONSTELLATION ENERGY CORPSOLE | COM | 200K | SH | $64.55M 3.74% | 200K | 0.00 | 0.00 |
PEMBINA PIPELINE CORPSOLE | COM | 1.69M | SH | $63.28M 3.67% | 1.69M | 0.00 | 0.00 |
TALEN ENERGY CORPSOLE | COM | 216K | SH | $62.81M 3.64% | 216K | 0.00 | 0.00 |
TC ENERGY CORPSOLE | COM | 1.25M | SH | $61.01M 3.53% | 1.25M | 0.00 | 0.00 |
ENTERPRISE PRODS PARTNERS LSOLE | COM | 1.96M | SH | $60.70M 3.52% | 1.96M | 0.00 | 0.00 |
VISTRA CORPSOLE | COM | 284K | SH | $55.04M 3.19% | 284K | 0.00 | 0.00 |
WESTERN MIDSTREAM PARTNERS LSOLE | COM UNIT LP INT | 1.20M | SH | $46.59M 2.70% | 1.20M | 0.00 | 0.00 |
SOUTH BOW CORPSOLE | COM | 1.53M | SH | $39.54M 2.29% | 1.53M | 0.00 | 0.00 |
KINETIK HOLDINGS INCSOLE | COM NEW CL A | 779K | SH | $34.31M 1.99% | 779K | 0.00 | 0.00 |
PHILLIPS 66SOLE | COM | 199.70K | SH | $23.82M 1.38% | 199.70K | 0.00 | 0.00 |
EQT CORPSOLE | COM | 353.26K | SH | $20.60M 1.19% | 353.26K | 0.00 | 0.00 |
GE VERNOVA INCSOLE | COM | 32K | SH | $16.93M 0.98% | 32K | 0.00 | 0.00 |
NRG ENERGY INCSOLE | COM NEW | 98K | SH | $15.74M 0.91% | 98K | 0.00 | 0.00 |
ANTERO MIDSTREAM CORPSOLE | COM | 774K | SH | $14.67M 0.85% | 774K | 0.00 | 0.00 |
MARATHON PETE CORPSOLE | COM | 85.50K | SH | $14.20M 0.82% | 85.50K | 0.00 | 0.00 |
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