CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT

Portfolio Overview

CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT disclosed 73 positions worth $2.2B in its Form 13F-HR for Q2 2026, led by $TRGP (Targa Resources Corp.) at 7.4% of the equity portfolio, followed by $ET and $WMB. During the quarter the fund opened 14 new positions and exited 7 — including a new stake in $KGS and a full exit from $PRIM. The portfolio is most concentrated in Energy (75.4% of disclosed assets). All figures are sourced directly from CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT’s Form 13F-HR filing with the SEC under CIK 1329375.

• 

  Targa Resources Corp.

  $TRGP

  63.3#638

  Quality

  $164.7M614,300 sh
• 

  Energy Transfer LP

  $ET

  64.4#543

  Quality

  $151.5M7,923,600 sh
• 

  WILLIAMS COMPANIES, INC.

  $WMB

  64.3#554

  Quality

  $138.7M1,866,100 sh
• 

  DT Midstream, Inc.

  $DTM

  68.6

  Quality

  $107.1M730,100 sh
• 

  PLAINS GP HOLDINGS LP

  $PAGP

  55.1

  Quality

  $92.1M3,795,000 sh
• 

  MPLX LP

  $MPLX

  70.0

  Quality

  $91.0M1,614,600 sh
• 

  ONEOK INC /NEW/

  $OKE

  71.7

  Quality

  $85.7M985,900 sh
• 

  Kinetik Holdings Inc.

  $KNTK

  59.6

  Quality

  $84.7M1,752,000 sh
• 

  TC ENERGY CORP

  $TRP

  —

  Quality

  $82.6M1,245,800 sh
• 

  Cheniere Energy, Inc.

  $LNG

  66.5

  Quality

  $80.7M337,800 sh

Company	Quality	Value	Shares
Targa Resources Corp.$TRGP	63.3#638	$164.7M	614,300
Energy Transfer LP$ET	64.4#543	$151.5M	7,923,600
WILLIAMS COMPANIES, INC.$WMB	64.3#554	$138.7M	1,866,100
DT Midstream, Inc.$DTM	68.6	$107.1M	730,100
PLAINS GP HOLDINGS LP$PAGP	55.1	$92.1M	3,795,000
MPLX LP$MPLX	70.0	$91.0M	1,614,600
ONEOK INC /NEW/$OKE	71.7	$85.7M	985,900
Kinetik Holdings Inc.$KNTK	59.6	$84.7M	1,752,000
TC ENERGY CORP$TRP	—	$82.6M	1,245,800
Cheniere Energy, Inc.$LNG	66.5	$80.7M	337,800

Showing top 10 of 73 holdings.

Full Holdings — CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT (Q2 2026)

All 73 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$TRGP	Targa Resources Corp.	$164.7M	7.4%	-6%	63.3
2	$ET	Energy Transfer LP	$151.5M	6.8%	-1%	64.4
3	$WMB	WILLIAMS COMPANIES, INC.	$138.7M	6.2%	+10%	64.3
4	$DTM	DT Midstream, Inc.	$107.1M	4.8%	+0%	68.6
5	$PAGP	PLAINS GP HOLDINGS LP	$92.1M	4.1%	+10%	55.1
6	$MPLX	MPLX LP	$91.0M	4.1%	-13%	70
7	$OKE	ONEOK INC /NEW/	$85.7M	3.8%	-8%	71.7
8	$KNTK	Kinetik Holdings Inc.	$84.7M	3.8%	-7%	59.6
9	$TRP	TC ENERGY CORP	$82.6M	3.7%	-3%	—
10	$LNG	Cheniere Energy, Inc.	$80.7M	3.6%	+21%	66.5
11	$KMI	KINDER MORGAN, INC.	$65.2M	2.9%	-25%	71.3
12	$EPD	ENTERPRISE PRODUCTS PARTNERS L.P.	$57.5M	2.6%	-10%	61.4
13	$WES	Western Midstream Partners, LP	$55.1M	2.5%	-25%	71
14	$PBA	PEMBINA PIPELINE CORP	$53.6M	2.4%	-15%	—
15	$ENB	ENBRIDGE INC	$51.9M	2.3%	-4%	66.7
16	$BE	Bloom Energy Corp	$41.4M	1.9%	+1%	66.2
17	$AGX	ARGAN INC	$36.3M	1.6%	+20%	81.4
18	$MTZ	MASTEC INC	$34.4M	1.5%	+17%	58.8
19	$GEV	GE Vernova Inc.	$33.7M	1.5%	+20%	81.1
20	$SEI	Solaris Energy Infrastructure, Inc.	$33.6M	1.5%	+8%	56.4
21	$PWR	QUANTA SERVICES, INC.	$31.5M	1.4%	+15%	72.1
22	$VST	Vistra Corp.	$31.4M	1.4%	+8%	71.9
23	$NRG	NRG ENERGY, INC.	$31.1M	1.4%	+25%	51.9
24	$SOBO	South Bow Corp	$30.1M	1.4%	-1%	—
25	$TLN	Talen Energy Corp	$29.5M	1.3%	-14%	57.2
26	$SUNC	SunocoCorp LLC	$27.5M	1.2%	+103%	67.1
27	$CEG	Constellation Energy Corp	$26.6M	1.2%	+29%	59.4
28	$DY	DYCOM INDUSTRIES INC	$26.3M	1.2%	+44%	56.3
29	$PANW	Palo Alto Networks Inc	$25.6M	1.1%	+4%	65.5
30	$EE	Excelerate Energy, Inc.	$24.7M	1.1%	+100%	52
31	$KGS	Kodiak Gas Services, Inc.	$22.5M	1.0%	NEW	57
32	$CRWD	CrowdStrike Holdings, Inc.	$22.1M	1.0%	-3%	67.7
33	$DOCN	DigitalOcean Holdings, Inc.	$22.0M	1.0%	+6%	67.2
34	$NXT	Nextpower Inc.	$21.6M	1.0%	+27%	69.1
35	$EQT	EQT Corp	$21.4M	1.0%	+0%	83.7
36	$WBI	WaterBridge Infrastructure LLC	$21.2M	0.9%	+206%	54.6
37	$WTTR	Select Water Solutions, Inc.	$20.4M	0.9%	+143%	42.9
38	$MWH	SOLV Energy, Inc.	$17.7M	0.8%	+160%	—
39	$STRL	STERLING INFRASTRUCTURE, INC.	$17.2M	0.8%	+78%	70.6
40	$VG	Venture Global, Inc.	$15.5M	0.7%	NEW	69.5
41	$NET	Cloudflare, Inc.	$14.7M	0.7%	+20%	56.4
42	$IRDM	Iridium Communications Inc.	$12.9M	0.6%	NEW	61.1
43	$MPC	Marathon Petroleum Corp	$12.7M	0.6%	-65%	61
44	$PSX	Phillips 66	$12.4M	0.6%	-59%	57.8
45	$ETR	ENTERGY CORP /DE/	$11.5M	0.5%	+59%	59.5
46	$ENTG	ENTEGRIS INC	$10.6M	0.5%	NEW	58
47	$EROK	EagleRock Land, LLC	$10.0M	0.5%	NEW	—
48	$SNOW	Snowflake Inc.	$8.7M	0.4%	+17%	54.9
49	$NBIS	Nebius Group N.V.	$8.6M	0.4%	NEW	—
50	$DLR	DIGITAL REALTY TRUST, INC.	$8.4M	0.4%	+38%	72.8
51	$AEP	AMERICAN ELECTRIC POWER CO INC	$8.2M	0.4%	+140%	66.8
52	$D	DOMINION ENERGY, INC	$8.0M	0.4%	NEW	69.9
53	$WEC	WEC ENERGY GROUP, INC.	$7.8M	0.3%	+91%	60.1
54	$DUK	Duke Energy CORP	$7.7M	0.3%	+74%	56.4
55	$SO	SOUTHERN CO	$7.7M	0.3%	+78%	62
56	$IREN	IREN Ltd	$7.2M	0.3%	+0%	46.3
57	$ARKO	ARKO Corp.	$6.8M	0.3%	NEW	61.2
58	$TXO	TXO Partners, L.P.	$6.6M	0.3%	-9%	50.8
59	$AM	Antero Midstream Corp	$5.7M	0.3%	+25%	65.4
60	$APC	ARKO Petroleum Corp.	$5.7M	0.3%	-58%	—
61	$CIFR	Cipher Digital Inc.	$5.3M	0.2%	+26%	30.6
62	$NEE	NEXTERA ENERGY INC	$4.2M	0.2%	-49%	64.6
63	$ARLP	ALLIANCE RESOURCE PARTNERS LP	$3.6M	0.2%	-21%	50.8
64	$ECL	ECOLAB INC.	$2.8M	0.1%	NEW	63.3
65	$PAA	PLAINS ALL AMERICAN PIPELINE LP	$2.3M	0.1%	+90%	59.1
66	$SEDG	SOLAREDGE TECHNOLOGIES, INC.	$2.0M	0.1%	NEW	30.9
67	$ENPH	Enphase Energy, Inc.	$2.0M	0.1%	NEW	42.9
68	$NGL	NGL Energy Partners LP	$1.8M	0.1%	-27%	42.2
69	$CLSK	CLEANSPARK, INC.	$465,600	0.0%	+0%	37.4
70	$CORZ	Core Scientific, Inc./tx	$179,130	0.0%	NEW	14.1
71	$QS	QuantumScape Corp	$151,200	0.0%	NEW	—
72	$CRWV	CoreWeave, Inc.	$149,310	0.0%	NEW	52.2
73	$GEL	GENESIS ENERGY LP	$99,190	0.0%	-95%	53.6