Filed: 1/27/2026ACC: 0001329375-26-000001
📋 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 $1.74B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
60
Positions
$1.74B
Total AUM (reported)
37.52M
Total Shares
Allocation by class
COM$999.90M57.3%
COM UT LTD PTN$131.78M7.6%
COM UNIT REP LTD$100.54M5.8%
COMMON STOCK$89.68M5.1%
COM NEW$89.14M5.1%
LTD PARTNR INT A$71.30M4.1%
COM NEW CL A$66.45M3.8%
Portfolio Concentration
Top 3$358.02M20.5%
4–10$568.73M32.6%
11–25$586.03M33.6%
Rest$230.99M13.2%
Top 3 weight
20.5%
Top 10 weight
53.1%
Voting Authority Distribution
Total shares with voting rights: 37.52M
Sole
Full voting authority
37.52M
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
SOLEShares7.99M
TypeSH
Market value$131.78M
7.56%
Sole
7.99M
Shared
0.00
None
0.00
TARGA RES CORP
SOLEShares681.30K
TypeSH
Market value$125.70M
7.21%
Sole
681.30K
Shared
0.00
None
0.00
MPLX LP
SOLEShares1.88M
TypeSH
Market value$100.54M
5.77%
Sole
1.88M
Shared
0.00
None
0.00
WILLIAMS COS INC
SOLEShares1.60M
TypeSH
Market value$95.88M
5.50%
Sole
1.60M
Shared
0.00
None
0.00
ONEOK INC NEW
SOLEShares1.30M
TypeSH
Market value$95.40M
5.47%
Sole
1.30M
Shared
0.00
None
0.00
DT MIDSTREAM INC
SOLEShares749.30K
TypeSH
Market value$89.68M
5.14%
Sole
749.30K
Shared
0.00
None
0.00
KINDER MORGAN INC DEL
SOLEShares2.87M
TypeSH
Market value$78.76M
4.52%
Sole
2.87M
Shared
0.00
None
0.00
PLAINS GP HLDGS L P
SOLEShares3.73M
TypeSH
Market value$71.30M
4.09%
Sole
3.73M
Shared
0.00
None
0.00
TC ENERGY CORP
SOLEShares1.30M
TypeSH
Market value$71.27M
4.09%
Sole
1.30M
Shared
0.00
None
0.00
KINETIK HOLDINGS INC
SOLEShares1.84M
TypeSH
Market value$66.45M
3.81%
Sole
1.84M
Shared
0.00
None
0.00
CHENIERE ENERGY INC
SOLEShares324.80K
TypeSH
Market value$63.14M
3.62%
Sole
324.80K
Shared
0.00
None
0.00
WESTERN MIDSTREAM PARTNERS L
SOLEShares1.54M
TypeSH
Market value$60.87M
3.49%
Sole
1.54M
Shared
0.00
None
0.00
ENTERPRISE PRODS PARTNERS L
SOLEShares1.79M
TypeSH
Market value$57.47M
3.30%
Sole
1.79M
Shared
0.00
None
0.00
PEMBINA PIPELINE CORP
SOLEShares1.35M
TypeSH
Market value$51.27M
2.94%
Sole
1.35M
Shared
0.00
None
0.00
HESS MIDSTREAM LP
SOLEShares1.36M
TypeSH
Market value$46.82M
2.69%
Sole
1.36M
Shared
0.00
None
0.00
TALEN ENERGY CORP
SOLEShares117.20K
TypeSH
Market value$43.93M
2.52%
Sole
117.20K
Shared
0.00
None
0.00
CONSTELLATION ENERGY CORP
SOLEShares116.70K
TypeSH
Market value$41.23M
2.36%
Sole
116.70K
Shared
0.00
None
0.00
SOUTH BOW CORP
SOLEShares1.49M
TypeSH
Market value$40.94M
2.35%
Sole
1.49M
Shared
0.00
None
0.00
VISTRA CORP
SOLEShares208.70K
TypeSH
Market value$33.67M
1.93%
Sole
208.70K
Shared
0.00
None
0.00
GE VERNOVA INC
SOLEShares47.85K
TypeSH
Market value$31.27M
1.79%
Sole
47.85K
Shared
0.00
None
0.00
ENBRIDGE INC
SOLEShares601.50K
TypeSH
Market value$28.77M
1.65%
Sole
601.50K
Shared
0.00
None
0.00
NRG ENERGY INC
SOLEShares162K
TypeSH
Market value$25.80M
1.48%
Sole
162K
Shared
0.00
None
0.00
PHILLIPS 66
SOLEShares190.90K
TypeSH
Market value$24.63M
1.41%
Sole
190.90K
Shared
0.00
None
0.00
EQT CORP
SOLEShares344.26K
TypeSH
Market value$18.45M
1.06%
Sole
344.26K
Shared
0.00
None
0.00
FIRST SOLAR INC
SOLEShares68K
TypeSH
Market value$17.76M
1.02%
Sole
68K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
ENERGY TRANSFER L PSOLE | COM UT LTD PTN | 7.99M | SH | $131.78M 7.56% | 7.99M | 0.00 | 0.00 |
TARGA RES CORPSOLE | COM | 681.30K | SH | $125.70M 7.21% | 681.30K | 0.00 | 0.00 |
MPLX LPSOLE | COM UNIT REP LTD | 1.88M | SH | $100.54M 5.77% | 1.88M | 0.00 | 0.00 |
WILLIAMS COS INCSOLE | COM | 1.60M | SH | $95.88M 5.50% | 1.60M | 0.00 | 0.00 |
ONEOK INC NEWSOLE | COM | 1.30M | SH | $95.40M 5.47% | 1.30M | 0.00 | 0.00 |
DT MIDSTREAM INCSOLE | COMMON STOCK | 749.30K | SH | $89.68M 5.14% | 749.30K | 0.00 | 0.00 |
KINDER MORGAN INC DELSOLE | COM | 2.87M | SH | $78.76M 4.52% | 2.87M | 0.00 | 0.00 |
PLAINS GP HLDGS L PSOLE | LTD PARTNR INT A | 3.73M | SH | $71.30M 4.09% | 3.73M | 0.00 | 0.00 |
TC ENERGY CORPSOLE | COM | 1.30M | SH | $71.27M 4.09% | 1.30M | 0.00 | 0.00 |
KINETIK HOLDINGS INCSOLE | COM NEW CL A | 1.84M | SH | $66.45M 3.81% | 1.84M | 0.00 | 0.00 |
CHENIERE ENERGY INCSOLE | COM NEW | 324.80K | SH | $63.14M 3.62% | 324.80K | 0.00 | 0.00 |
WESTERN MIDSTREAM PARTNERS LSOLE | COM UNIT LP INT | 1.54M | SH | $60.87M 3.49% | 1.54M | 0.00 | 0.00 |
ENTERPRISE PRODS PARTNERS LSOLE | COM | 1.79M | SH | $57.47M 3.30% | 1.79M | 0.00 | 0.00 |
PEMBINA PIPELINE CORPSOLE | COM | 1.35M | SH | $51.27M 2.94% | 1.35M | 0.00 | 0.00 |
HESS MIDSTREAM LPSOLE | CL A SHS | 1.36M | SH | $46.82M 2.69% | 1.36M | 0.00 | 0.00 |
TALEN ENERGY CORPSOLE | COM | 117.20K | SH | $43.93M 2.52% | 117.20K | 0.00 | 0.00 |
CONSTELLATION ENERGY CORPSOLE | COM | 116.70K | SH | $41.23M 2.36% | 116.70K | 0.00 | 0.00 |
SOUTH BOW CORPSOLE | COM | 1.49M | SH | $40.94M 2.35% | 1.49M | 0.00 | 0.00 |
VISTRA CORPSOLE | COM | 208.70K | SH | $33.67M 1.93% | 208.70K | 0.00 | 0.00 |
GE VERNOVA INCSOLE | COM | 47.85K | SH | $31.27M 1.79% | 47.85K | 0.00 | 0.00 |
ENBRIDGE INCSOLE | COM | 601.50K | SH | $28.77M 1.65% | 601.50K | 0.00 | 0.00 |
NRG ENERGY INCSOLE | COM NEW | 162K | SH | $25.80M 1.48% | 162K | 0.00 | 0.00 |
PHILLIPS 66SOLE | COM | 190.90K | SH | $24.63M 1.41% | 190.90K | 0.00 | 0.00 |
EQT CORPSOLE | COM | 344.26K | SH | $18.45M 1.06% | 344.26K | 0.00 | 0.00 |
FIRST SOLAR INCSOLE | COM | 68K | SH | $17.76M 1.02% | 68K | 0.00 | 0.00 |
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