CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT
Sector Allocation
- Energy75.0%$1.6B
- Technology9.2%$199.7M
- Utilities7.6%$164.8M
- Industrials4.7%$101.8M
- Financials1.5%$32.5M
- Communication Services0.9%$20.0M
- Materials0.6%$14.0M
- Real Estate0.4%$8.2M
- Consumer Staples0.2%$4.4M
- Other0.0%$89,600
AUM History
13fpro.ai/research/fund/cushing-asset-management-lp-dba-nxg-investment-management-1329375
Conviction and streaks
Diversifying · top 10 = 46.4%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q3 2026
ET
$153.7MTRGP
$150.0MWMB
$121.5MPAGP
$97.0MLNG
$89.1MKNTK
$89.0MDTM
$82.1MOKE
$81.9MMPLX
$75.0MSEI
$73.2MKMI
$68.6MTRP
$66.2MEPD
$64.2MWES
$59.1MPBA
$51.6MBE
$40.2MKGS
$38.6MGEV
$36.7MCRWD
$32.5MPANW
$31.8M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/cushing-asset-management-lp-dba-nxg-investment-management-1329375
CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 13F holdings — Q3 2026
$2.2B portfolio (-2.4% QoQ) · 73 holdings · Q3 2026 13F · top 10 are 46% of the stock portfolio
$153.7M
7.0% of stocks
-2%This quarter0.0%Since filed11+ qtrsHeld$150.0M
6.9% of stocks
-10%This quarter0.0%Since filed11+ qtrsHeldAIQuality61.1#814Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$121.5M
5.6% of stocks
-4%This quarter0.0%Since filed11+ qtrsHeld$97.0M
4.5% of stocks
-1%This quarter0.0%Since filed11+ qtrsHeld$89.1M
4.1% of stocks
-2%This quarter0.0%Since filed11+ qtrsHeld$89.0M
4.1% of stocks
+1%This quarter0.0%Since filed11+ qtrsHeld$82.1M
3.8% of stocks
-6%This quarter0.0%Since filed11+ qtrsHeld$81.9M
3.8% of stocks
-3%This quarter0.0%Since filed11+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$75.0M
3.4% of stocks
-18%This quarter0.0%Since filed11+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$73.2M
3.4% of stocks
+146%This quarter0.0%Since filed4 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 4 qtrs in a row
All holdings — CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT (Q3 2026)
73 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | KINDER MORGAN, INC. | Energy | $68.6M | 3.1% | 2.27M | +12% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | TC ENERGY CORP | Energy | $66.2M | 3.0% | 1.15M | -8% | 11+ qtrsTrimmed 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | ENTERPRISE PRODUCTS PARTNERS L.P. | Energy | $64.2M | 2.9% | 1.80M | +15% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | Western Midstream Partners, LPlp unit | Energy | $59.1M | 2.7% | 1.33M | +6% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | PEMBINA PIPELINE CORP | Energy | $51.6M | 2.4% | 1.16M | — | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | Bloom Energy Corp | Technology | $40.2M | 1.8% | 145K | +6% | 6 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Kodiak Gas Services, Inc. | Energy | $38.6M | 1.8% | 728K | +143% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | GE Vernova Inc. | Industrials | $36.7M | 1.7% | 39K | +35% | 8 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | CrowdStrike Holdings, Inc. | Technology | $32.5M | 1.5% | 123K | +323% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Palo Alto Networks Inc | Technology | $31.8M | 1.5% | 80K | +7% | 8 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | Vistra Corp. | Utilities | $31.0M | 1.4% | 224K | +13% | 11+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Constellation Energy Corp | Utilities | $30.7M | 1.4% | 121K | +13% | 11+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | Talen Energy Corp | Utilities | $29.0M | 1.3% | 93K | +21% | 9 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | ENBRIDGE INC | Energy | $28.9M | 1.3% | 622K | -35% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | QUANTA SERVICES, INC. | Industrials | $26.5M | 1.2% | 41K | -6% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $WTTR | Select Water Solutions, Inc. | Energy | $26.3M | 1.2% | 1.33M | +30% | |||
| 27 | $NRG | NRG ENERGY, INC. | Utilities | $26.3M | 1.2% | 275K | +29% | |||
| 28 | $SUNC | SunocoCorp LLC | Energy | $26.0M | 1.2% | 356K | -12% | |||
| 29 | $MPC | Marathon Petroleum Corp | Energy | $24.0M | 1.1% | 61K | +22% | |||
| 30 | $VG | Venture Global, Inc. | Energy | $23.6M | 1.1% | 1.87M | +35% | |||
| 31 | $SOBO | South Bow Corp | Energy | $23.4M | 1.1% | 706K | -18% | |||
| 32 | $NET | Cloudflare, Inc. | Technology | $20.8M | 1.0% | 60K | — | |||
| 33 | $EE | Excelerate Energy, Inc. | Energy | $20.7M | 0.9% | 645K | -0.8% | |||
| 34 | $IRDM | Iridium Communications Inc. | Communication Services | $20.0M | 0.9% | 417K | +76% | |||
| 35 | $DOCN | DigitalOcean Holdings, Inc. | Technology | $19.4M | 0.9% | 146K | +4% | |||
| 36 | $WBI | WaterBridge Infrastructure LLC | Energy | $18.6M | 0.8% | 660K | +6% | |||
| 37 | $MTZ | MASTEC INC | Energy | $16.8M | 0.8% | 79K | -5% | |||
| 38 | $AGX | ARGAN INC | Industrials | $16.4M | 0.8% | 43K | -5% | |||
| 39 | $PSX | Phillips 66 | Energy | $14.8M | 0.7% | 58K | -21% | |||
| 40 | $DY | DYCOM INDUSTRIES INC | Energy | $13.7M | 0.6% | 51K | -2% | |||
| 41 | $NXT | Nextpower Inc. | Technology | $13.5M | 0.6% | 174K | -4% | |||
| 42 | $MWH | SOLV Energy, Inc. | Industrials | $12.2M | 0.6% | 506K | -3% | |||
| 43 | $EQT | EQT Corp | Energy | $11.6M | 0.5% | 238K | -41% | |||
| 44 | $SNOW | Snowflake Inc. | Technology | $11.5M | 0.5% | 34K | — | |||
| 45 | $NBIS | Nebius Group N.V. | Technology | $10.5M | 0.5% | 45K | +42% | |||
| 46 | $STRL | STERLING INFRASTRUCTURE, INC. | Industrials | $10.1M | 0.5% | 20K | -0.5% | |||
| 47 | $AESI | Atlas Energy Solutions Inc. | Energy | $10.0M | 0.5% | 832K | New | |||
| 48 | $ETR | ENTERGY CORP /DE/ | Utilities | $9.9M | 0.5% | 100K | — | |||
| 49 | $EROK | EagleRock Land, LLC | Financials | $9.8M | 0.5% | 470K | — | |||
| 50 | $IREN | IREN Ltd | Financials | $8.6M | 0.4% | 210K | +34% | |||
| 51 | $ENTG | ENTEGRIS INC | Materials | $8.5M | 0.4% | 55K | -7% | |||
| 52 | $DLR | DIGITAL REALTY TRUST, INC. | Real Estate | $8.2M | 0.4% | 47K | — | |||
| 53 | $CRWV | CoreWeave, Inc. | Technology | $7.7M | 0.3% | 88K | +5767% | |||
| 54 | $AM | Antero Midstream Corp | Energy | $7.5M | 0.3% | 374K | +49% | |||
| 55 | $AEP | AMERICAN ELECTRIC POWER CO INC | Utilities | $7.1M | 0.3% | 60K | — | |||
| 56 | $FSLR | FIRST SOLAR, INC. | Technology | $7.0M | 0.3% | 40K | New | |||
| 57 | $DUK | Duke Energy CORP | Utilities | $7.0M | 0.3% | 61K | — | |||
| 58 | $D | DOMINION ENERGY, INC | Utilities | $6.8M | 0.3% | 113K | -3% | |||
| 59 | $WEC | WEC ENERGY GROUP, INC. | Utilities | $6.8M | 0.3% | 67K | — | |||
| 60 | $SO | SOUTHERN CO | Utilities | $6.6M | 0.3% | 80K | — | |||
| 61 | $CORZ | Core Scientific, Inc./tx | Financials | $6.2M | 0.3% | 390K | +5469% | |||
| 62 | $CIFR | Cipher Digital Inc. | Financials | $5.5M | 0.3% | 348K | +62% | |||
| 63 | $ECL | ECOLAB INC. | Materials | $5.5M | 0.3% | 20K | +100% | |||
| 64 | $DT | Dynatrace, Inc. | Technology | $4.6M | 0.2% | 80K | New | |||
| 65 | $TXO | TXO Partners, L.P. | Energy | $4.5M | 0.2% | 332K | -37% | |||
| 66 | $ARKO | ARKO Corp. | Consumer Staples | $4.4M | 0.2% | 1.07M | +26% | |||
| 67 | $NEE | NEXTERA ENERGY INC | Utilities | $3.6M | 0.2% | 48K | — | |||
| 68 | $PAA | PLAINS ALL AMERICAN PIPELINE LP | Energy | $2.5M | 0.1% | 107K | +2% | |||
| 69 | $WULF | TERAWULF INC. | Financials | $2.0M | 0.1% | 135K | New | |||
| 70 | $NGL | NGL Energy Partners LP | Energy | $1.4M | 0.1% | 97K | -12% | |||
| 71 | $CLSK | CLEANSPARK, INC. | Financials | $412K | 0.0% | 32K | — | |||
| 72 | $QS | QuantumScape Corp | Technology | $93K | 0.0% | 20K | — | |||
| 73 | — | CAPSTONE ENERGY PLUS INC - COM | — | $90K | 0.0% | 20K | New |
What changed in Q3 2026
Against the previous quarter's 13F: 5 new, 29 added to, 26 trimmed, 5 sold out. Share-count changes; largest moves by dollar size first.
New positions (5)
Added to (29)
now $73.2M · held 4 qtrs, 4 adds in a row
now $32.5M · held 11+ qtrs
now $38.6M · held 2 qtrs, 2 adds in a row
now $36.7M · held 8 qtrs, 2 adds in a row
$IRDMIridium Communications Inc.+76%
now $20.0M · held 2 qtrs, 2 adds in a row
now $64.2M · held 11+ qtrs
+23 more in the Excel export
Trimmed (26)
now $150.0M · held 11+ qtrs, 3 trims in a row
now $75.0M · held 11+ qtrs, 3 trims in a row
$ENBENBRIDGE INC-35%
now $28.9M · held 11+ qtrs, 2 trims in a row
$EQTEQT Corp-41%
now $11.6M · held 9 qtrs
now $66.2M · held 11+ qtrs, 4 trims in a row
now $121.5M · held 11+ qtrs
+20 more in the Excel export
Holdings by quarter
Every 13F CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT has filed, 41 earlier quarters. Pick one to see what it held then.
Is it too late to follow CUSHING ASSET MANAGEMENT, dba NXG INVESTMENT MANAGEMENT?
Q3 2026 13F filed with the SEC on Oct 26, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of CUSHING ASSET MANAGEMENT, dba NXG INVESTMENT MANAGEMENT's top 20 holdings: 64/100 (our AI quality score, weighted by position size; 18 of the 20 are scored)
Top 10 since filing
0.0%
Value-weighted move of the 10 largest stock positions
Turnover
5%
Last quarter; 33% over the last 4
Top 10 weight
46%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
87%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT disclosed 73 positions worth $2.2B in its Form 13F-HR for Q3 2026, led by $ET (Energy Transfer LP) at 7.0% of the equity portfolio, followed by $TRGP and $WMB. During the quarter the fund opened 5 new positions and exited 5 — including a new stake in $AESI and a full exit from $APC. The portfolio is most concentrated in Energy (75.0% 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.
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Every holding in CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.