CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| TARGA RES CORP | TRGP | $164.7M | 614,300 | -0.73pp | 31q | -5.8%-$10.2M | |
| ENERGY TRANSFER L P | ET | $151.5M | 7,923,600 | -0.86pp | 31q | -0.9%-$1.4M | |
| WILLIAMS COS INC | WMB | $138.7M | 1,866,100 | +0.08pp | 31q | +9.8%+$12.3M | |
| DT MIDSTREAM INC | DTM | $107.1M | 730,100 | -0.05pp | 20q | HELD | |
| PLAINS GP HLDGS L P | PAGP | $92.1M | 3,795,000 | -0.04pp | 31q | +9.7%+$8.1M | |
| MPLX LP | MPLX | $91.0M | 1,614,600 | -1.18pp | 31q | -13.2%-$13.8M | |
| ONEOK INC NEW | OKE | $85.7M | 985,900 | -0.95pp | 31q | -7.9%-$7.3M | |
| KINETIK HOLDINGS INC | KNTK | $84.7M | 1,752,000 | -0.70pp | 11q | -6.5%-$5.9M | |
| TC ENERGY CORP | TRP | $82.6M | 1,245,800 | -0.27pp | 29q | -2.7%-$2.3M | |
| CHENIERE ENERGY INC | LNG | $80.7M | 337,800 | -0.32pp | 31q | +20.7%+$13.9M | |
| KINDER MORGAN INC DEL | KMI | $65.2M | 2,039,400 | -1.60pp | 31q | -25.1%-$21.8M | |
| ENTERPRISE PRODS PARTNERS L | EPD | $57.5M | 1,565,500 | -0.69pp | 31q | -10.3%-$6.6M | |
| WESTERN MIDSTREAM PARTNERS L | WES | $55.1M | 1,259,900 | -0.95pp | 23q | -24.9%-$18.2M | |
| PEMBINA PIPELINE CORP | PBA | $53.6M | 1,158,100 | -0.61pp | 31q | -14.7%-$9.2M | |
| ENBRIDGE INC | ENB | $51.9M | 956,500 | -0.36pp | 31q | -4.5%-$2.4M | |
| BLOOM ENERGY CORP | BE | $41.4M | 136,900 | +0.95pp | 5q | +1.4%+$575.1K | |
| ARGAN INC | AGX | $36.3M | 45,500 | +0.60pp | 5q | +19.7%+$6.0M | |
| MASTEC INC | MTZ | $34.4M | 82,800 | +0.41pp | 7q | +16.8%+$5.0M | |
| GE VERNOVA INC | GEV | $33.7M | 28,700 | +0.47pp | 7q | +19.6%+$5.5M | |
| SOLARIS ENERGY INFRAS INC | SEI | $33.6M | 418,000 | +0.42pp | 3q | +7.7%+$2.4M | |
| QUANTA SVCS INC | PWR | $31.5M | 43,800 | +0.38pp | 11q | +15.3%+$4.2M | |
| VISTRA CORP | VST | $31.4M | 198,000 | +0.04pp | 11q | +7.8%+$2.3M | |
| NRG ENERGY INC | NRG | $31.1M | 212,700 | +0.16pp | 9q | +24.8%+$6.2M | |
| SOUTH BOW CORP | SOBO | $30.1M | 855,500 | -0.08pp | 7q | -1.2%-$352.4K | |
| TALEN ENERGY CORP | TLN | $29.5M | 76,800 | -0.09pp | 8q | -14.0%-$4.8M | |
| SUNOCOCORP LLC | SUNC | $27.5M | 406,000 | +0.62pp | 2q | +103.0%+$13.9M | |
| CONSTELLATION ENERGY CORP | CEG | $26.6M | 107,000 | +0.05pp | 10q | +29.4%+$6.0M | |
| DYCOM INDS INC | DY | $26.3M | 52,000 | +0.57pp | 3q | +44.4%+$8.1M | |
| PALO ALTO NETWORKS INC | PANW | $25.6M | 75,000 | +0.57pp | 7q | +4.2%+$1.0M | |
| EXCELERATE ENERGY INC | EE | $24.7M | 650,000 | +0.57pp | 2q | +100.0%+$12.3M | |
| KODIAK GAS SVCS INC | KGS | $22.5M | 300,000 | - | new | NEW | |
| CROWDSTRIKE HLDGS INC | CRWD | $22.1M | 29,000 | +0.41pp | 10q | -3.3%-$763.1K | |
| DIGITALOCEAN HLDGS INC | DOCN | $22.0M | 140,400 | +0.43pp | 3q | +6.2%+$1.3M | |
| NEXTPOWER INC | NXT | $21.6M | 181,000 | +0.11pp | 6q | +26.6%+$4.5M | |
| EQT CORP | EQT | $21.4M | 403,258 | -0.31pp | 8q | HELD | |
| WATERBRIDGE INFRASTRUCTURE L | WBI | $21.2M | 620,000 | +0.68pp | 2q | +206.2%+$14.3M | |
| SELECT WATER SOLUTIONS INC | WTTR | $20.4M | 1,020,000 | +0.59pp | 2q | +142.9%+$12.0M | |
| SOLV ENERGY INC | MWH | $17.7M | 520,000 | +0.49pp | 2q | +160.0%+$10.9M | |
| STERLING INFRASTRUCTURE INC | STRL | $17.2M | 20,550 | +0.54pp | 2q | +77.9%+$7.6M | |
| VENTURE GLOBAL INC | VG | $15.5M | 1,389,000 | - | new | NEW | |
| CLOUDFLARE INC | NET | $14.7M | 60,000 | +0.15pp | 5q | +20.0%+$2.5M | |
| IRIDIUM COMMUNICATIONS INC | IRDM | $12.9M | 236,000 | - | new | NEW | |
| MARATHON PETE CORP | MPC | $12.7M | 49,800 | -1.16pp | 31q | -65.1%-$23.8M | |
| PHILLIPS 66 | PSX | $12.4M | 73,100 | -1.07pp | 11q | -59.4%-$18.1M | |
| ENTERGY CORP NEW | ETR | $11.5M | 100,000 | +0.16pp | 7q | +58.7%+$4.2M | |
| ENTEGRIS INC | ENTG | $10.6M | 59,000 | - | new | NEW | |
| EAGLEROCK LD LLC | $10.0M | 470,000 | - | new | NEW | ||
| SNOWFLAKE INC | SNOW | $8.7M | 34,000 | +0.17pp | 4q | +17.2%+$1.3M | |
| NEBIUS GROUP N.V. | NBIS | $8.6M | 31,300 | - | new | NEW | |
| DIGITAL RLTY TR INC | DLR | $8.4M | 47,000 | +0.07pp | 8q | +38.2%+$2.3M | |
| AMERICAN ELEC PWR CO INC | AEP | $8.2M | 60,000 | +0.21pp | 8q | +140.0%+$4.8M | |
| DOMINION ENERGY INC | D | $8.0M | 117,000 | - | new | NEW | |
| WEC ENERGY GROUP INC | WEC | $7.8M | 67,000 | +0.15pp | 4q | +91.4%+$3.7M | |
| DUKE ENERGY CORP NEW | DUK | $7.7M | 61,000 | +0.12pp | 2q | +74.3%+$3.3M | |
| SOUTHERN CO | SO | $7.7M | 80,000 | +0.13pp | 8q | +77.8%+$3.3M | |
| IREN LIMITED | IREN | $7.2M | 157,000 | +0.05pp | 3q | HELD | |
| ARKO CORP | ARKO | $6.8M | 850,000 | - | new | NEW | |
| TXO PARTNERS LP | TXO | $6.6M | 531,000 | -0.06pp | 14q | -8.6%-$625.0K | |
| ANTERO MIDSTREAM CORP | AM | $5.7M | 251,000 | +0.03pp | 9q | +24.9%+$1.1M | |
| ARKO PETE CORP | APC | $5.7M | 300,000 | -0.38pp | 2q | -57.9%-$7.8M | |
| CIPHER DIGITAL INC | CIFR | $5.3M | 215,000 | +0.13pp | 2q | +26.5%+$1.1M | |
| NEXTERA ENERGY INC | NEE | $4.2M | 48,000 | -0.25pp | 3q | -49.5%-$4.1M | |
| ALLIANCE RESOURCE PARTNERS L | ARLP | $3.6M | 150,000 | -0.10pp | 16q | -21.5%-$983.2K | |
| ECOLAB INC | ECL | $2.8M | 10,000 | - | new | NEW | |
| PLAINS ALL AMERN PIPELINE L | PAA | $2.3M | 105,300 | +0.04pp | 31q | +90.4%+$1.1M | |
| SOLAREDGE TECHNOLOGIES INC | SEDG | $2.0M | 35,000 | - | new | NEW | |
| ENPHASE ENERGY INC | ENPH | $2.0M | 40,000 | - | new | NEW | |
| NGL ENERGY PARTNERS LP | NGL | $1.8M | 110,000 | -0.01pp | 8q | -26.7%-$637.2K | |
| CLEANSPARK INC | CLSK | $465.6K | 32,000 | +0.01pp | 3q | HELD | |
| CORE SCIENTIFIC INC NEW | CORZ | $179.1K | 7,000 | - | new | NEW | |
| QUANTUMSCAPE CORP | QS | $151.2K | 20,000 | - | new | NEW | |
| COREWEAVE INC | CRWV | $149.3K | 1,500 | - | new | NEW | |
| GENESIS ENERGY L P | GEL | $99.2K | 7,000 | -0.13pp | 22q | -95.4%-$2.0M |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Energy | $1.3B | 59.1% |
| Transport & Logistics | $267.5M | 12.0% |
| Utilities | $165.5M | 7.4% |
| Construction & Building | $163.6M | 7.3% |
| Semiconductors & Electronics | $100.9M | 4.5% |
| Software & IT Services | $76.3M | 3.4% |
| Industrials | $33.6M | 1.5% |
| Other sectors | $89.5M | 4.0% |
| Not classified | $18.2M | 0.8% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $2.2B | 73 | 14 | 33 | 22 | 7 | 48.3% | 28 |
| Q1 2026 | $2.0B | 66 | 12 | 22 | 22 | 6 | 53.9% | 28 |
| Q4 2025 | $1.7B | 60 | 8 | 23 | 18 | 7 | 53.1% | 27 |
| Q3 2025 | $1.8B | 59 | 5 | 40 | 5 | 6 | 51.7% | 20 |
| Q2 2025 | $1.7B | 60 | 5 | 21 | 18 | 6 | 54.6% | 14 |
| Q1 2025 | $1.6B | 61 | 4 | 25 | 15 | 9 | 62.2% | 24 |
| Q4 2024 | $1.5B | 66 | 10 | 25 | 22 | 6 | 59.3% | 21 |
| Q3 2024 | $1.4B | 62 | 15 | 27 | 16 | 11 | 58.9% | 21 |
| Q2 2024 | $1.3B | 58 | 12 | 19 | 17 | 10 | 59.3% | 22 |
| Q1 2024 | $1.2B | 56 | 12 | 11 | 20 | 12 | 59.0% | 24 |
| Q4 2023 | $1.1B | 56 | 15 | 19 | 19 | 18 | 60.8% | 18 |
| Q3 2023 | $987.0M | 59 | 1 | 25 | 28 | 14 | 58.8% | 26 |
| Q2 2023 | $1.0B | 72 | 5 | 30 | 27 | 7 | 54.0% | 45 |
| Q1 2023 | $993.5M | 74 | 8 | 25 | 33 | 8 | 56.2% | 45 |
| Q4 2022 | $1.1B | 74 | 8 | 28 | 31 | 7 | 54.8% | 45 |
| Q3 2022 | $989.8M | 73 | 8 | 28 | 31 | 24 | 56.6% | 45 |
| Q2 2022 | $975.9M | 89 | 7 | 35 | 35 | 12 | 55.4% | 46 |
| Q1 2022 | $1.1B | 94 | 17 | 31 | 39 | 25 | 55.6% | 46 |
| Q4 2021 | $1.0B | 102 | 20 | 35 | 42 | 22 | 46.3% | 45 |
| Q3 2021 | $1.0B | 104 | 19 | 35 | 33 | 22 | 50.1% | 46 |
| Q2 2021 | $1.1B | 107 | 17 | 30 | 42 | 23 | 50.5% | 47 |
| Q1 2021 | $894.1M | 113 | 17 | 34 | 46 | 24 | 51.2% | 47 |
| Q4 2020 | $901.6M | 120 | 23 | 20 | 51 | 5 | 46.6% | 47 |
| Q3 2020 | $694.1M | 102 | 14 | 33 | 39 | 47 | 54.6% | 47 |
| Q2 2020 | $884.9M | 135 | 39 | 25 | 66 | 16 | 54.1% | 45 |
| Q1 2020 | $710.9M | 112 | 24 | 27 | 58 | 40 | 53.8% | 45 |
| Q4 2019 | $1.8B | 128 | 27 | 33 | 54 | 14 | 55.0% | 45 |
| Q3 2019 | $2.0B | 115 | 18 | 25 | 63 | 3 | 55.9% | 45 |
| Q2 2019 | $2.6B | 100 | 14 | 21 | 54 | 20 | 53.9% | 45 |
| Q1 2019 | $2.9B | 106 | 19 | 31 | 47 | 32 | 54.1% | 45 |
| Q4 2018 | $2.4B | 119 | 0 | 0 | 0 | 0 | 53.9% | 45 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.