CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT

hedge fundUpdated 45 days ago

Managed by Cushing Asset Management, Lp • Latest filing Q2 2026

Portfolio value

$2.2B

Q2 2026

Filings

14

Quarterly 13F history

Top-10 concentration

100.0%

Weight of largest holdings

Annualized return

28.3%

Implied from 13F holdings

Portfolio value history

13F-disclosed portfolio value over 14 quarters

Show data table

Period	Portfolio value
Q1 2023	$993.5M
Q2 2023	$1B
Q3 2023	$987M
Q4 2023	$1.1B
Q1 2024	$1.2B
Q2 2024	$1.3B
Q3 2024	$1.4B
Q4 2024	$1.5B
Q1 2025	$1.6B
Q2 2025	$1.7B
Q3 2025	$1.8B
Q4 2025	$1.7B
Q1 2026	$2B
Q2 2026	$2.2B

Top holdings

73 positions as of Q2 2026

#	Stock	Value	Shares	% Portfolio	Change
1	T TRGP TARGA RES CORP	$164.7M	614.3K	7.37%	Trimmed(-5.8%)
2	E ET-PI ENERGY TRANSFER L P	$151.5M	7.92M	6.78%	Trimmed(-0.9%)
3	F FBTC WILLIAMS COS INC	$138.7M	1.87M	6.21%	Added(+9.8%)
4	? N/A DT MIDSTREAM INC	$107.1M	730.1K	4.79%	Added(+0.4%)
5	P PAGP PLAINS GP HLDGS L P	$92.1M	3.79M	4.12%	Added(+9.7%)
6	M MPLXP MPLX LP	$91M	1.61M	4.07%	Trimmed(-13.2%)
7	O OKE ONEOK INC NEW	$85.7M	985.9K	3.84%	Trimmed(-7.8%)
8	K KNTK KINETIK HOLDINGS INC	$84.7M	1.75M	3.79%	Trimmed(-6.5%)
9	T TRPRF TC ENERGY CORP	$82.6M	1.25M	3.70%	Trimmed(-2.7%)
10	C CQP CHENIERE ENERGY INC	$80.7M	337.8K	3.61%	Added(+20.7%)
11	E EP-PC KINDER MORGAN INC DEL	$65.2M	2.04M	2.92%	Trimmed(-25.1%)
12	E EPDU ENTERPRISE PRODS PARTNERS L	$57.5M	1.57M	2.58%	Trimmed(-10.3%)
13	W WES WESTERN MIDSTREAM PARTNERS L	$55.1M	1.26M	2.47%	Trimmed(-24.9%)
14	P PPLAF PEMBINA PIPELINE CORP	$53.6M	1.16M	2.40%	Trimmed(-14.7%)
15	E EBBGF ENBRIDGE INC	$51.9M	956.5K	2.32%	Trimmed(-4.5%)
16	B BE BLOOM ENERGY CORP	$41.4M	136.9K	1.85%	Added(+1.4%)
17	A AGX ARGAN INC	$36.3M	45.5K	1.63%	Added(+19.7%)
18	M MTZ MASTEC INC	$34.4M	82.8K	1.54%	Added(+16.8%)
19	G GEV GE VERNOVA INC	$33.7M	28.7K	1.51%	Added(+19.6%)
20	S SEI SOLARIS ENERGY INFRAS INC	$33.6M	418.0K	1.50%	Added(+7.7%)

T

TARGA RES CORP

-5.8%

Value

$164.7M

Shares

614.3K

% Port

7.37%

E

ENERGY TRANSFER L P

-0.9%

Value

$151.5M

Shares

7.92M

% Port

6.78%

F

WILLIAMS COS INC

+9.8%

Value

$138.7M

Shares

1.87M

% Port

6.21%

?

4.N/A

DT MIDSTREAM INC

+0.4%

Value

$107.1M

Shares

730.1K

% Port

4.79%

P

PLAINS GP HLDGS L P

+9.7%

Value

$92.1M

Shares

3.79M

% Port

4.12%

M

MPLX LP

-13.2%

Value

$91M

Shares

1.61M

% Port

4.07%

O

ONEOK INC NEW

-7.8%

Value

$85.7M

Shares

985.9K

% Port

3.84%

K

KINETIK HOLDINGS INC

-6.5%

Value

$84.7M

Shares

1.75M

% Port

3.79%

T

TC ENERGY CORP

-2.7%

Value

$82.6M

Shares

1.25M

% Port

3.70%

C

10.CQP

CHENIERE ENERGY INC

+20.7%

Value

$80.7M

Shares

337.8K

% Port

3.61%

E

KINDER MORGAN INC DEL

-25.1%

Value

$65.2M

Shares

2.04M

% Port

2.92%

E

ENTERPRISE PRODS PARTNERS L

-10.3%

Value

$57.5M

Shares

1.57M

% Port

2.58%

W

13.WES

WESTERN MIDSTREAM PARTNERS L

-24.9%

Value

$55.1M

Shares

1.26M

% Port

2.47%

P

PEMBINA PIPELINE CORP

-14.7%

Value

$53.6M

Shares

1.16M

% Port

2.40%

E

ENBRIDGE INC

-4.5%

Value

$51.9M

Shares

956.5K

% Port

2.32%

B

16.BE

BLOOM ENERGY CORP

+1.4%

Value

$41.4M

Shares

136.9K

% Port

1.85%

A

17.AGX

ARGAN INC

+19.7%

Value

$36.3M

Shares

45.5K

% Port

1.63%

M

18.MTZ

MASTEC INC

+16.8%

Value

$34.4M

Shares

82.8K

% Port

1.54%

G

19.GEV

GE VERNOVA INC

+19.6%

Value

$33.7M

Shares

28.7K

% Port

1.51%

S

20.SEI

SOLARIS ENERGY INFRAS INC

+7.7%

Value

$33.6M

Shares

418.0K

% Port

1.50%

View full portfolio (73 holdings) →

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