CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT

Registered adviser

CIK

1329375

Location

DALLAS, TX

Portfolio Value

Mid $2,026,933,161

Diversification

Diversified

Reports for

NEW YORK LIFE INVESTMENT MANAGEMENT LLC

Filing Date

Global Rank

#1,489 / 8,818 ▼ 34 · as of Jun 2026

Top Industry

Oil & Gas Midstream 60.6%

Period ended 28 days ago

Filed Oct 26, 2026 · 2d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 131517

Roster of Oct 1, 2026

Regulatory AUM

$1,750,294,646

Main clients

Registered funds and BDCs (98% of AUM)

Private funds

1 fund · Hedge funds

Focus by gross assets, Schedule D of Nov 25, 2024

$29,115,184 gross assets

Registered funds advised

2 series (0 index, 0 ETFs)

$395,669,770 net assets· N-CEN Nov 30, 2025

LEI

549300J4XZOND2340P82

Private funds on Schedule D 7.B.(1)

As filed Nov 25, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$43,167,563 gross assets in 1 fund Hedge funds $43,167,563 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$1,750,294,646	Registered funds and BDCs (98%)
Apr 2025 to Mar 2026	$1,476,595,999	Registered funds and BDCs (96%)
Apr 2024 to Mar 2025	$1,109,652,606	Registered funds and BDCs (95%)
May 2023 to Mar 2024	$1,131,630,860	Registered funds and BDCs (91%)
Apr 2023	$1,131,630,860	Registered funds and BDCs (91%)
Apr 2022 to Mar 2023	$1,064,689,172	Registered funds and BDCs (85%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 48.3%, 30.8 effective positions, active share 95.7% against the S&P MidCap 400 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

32.3% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 17.2 quarters (12+), a floor since 50.6% of the book was already held when coverage starts

Closest benchmark: the S&P MidCap 400 as of 2026-06-30, active share 95.7%; sector active share 76.9% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

73 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

7.4%

+0.0 pts

Top 5

27.0%

−2.3 pts

Top 10

45.7%

−2.5 pts

HHI

306

Diversified−19

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Energy	72.1%	$1,460,689,184	32
Utilities	8.7%	$176,936,165	12
Technology	8.3%	$169,103,261	12
Industrials	7.9%	$160,482,819	8
Communication Services	1.5%	$30,447,010	2
Financial Services	0.5%	$11,011,312	3
Real Estate	0.4%	$8,249,910	1
Basic Materials	0.3%	$5,491,600	1
Consumer Cyclical	0.2%	$4,521,900	2

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
SEI	Solaris Energy Infrastructure, Inc.	+611,000	1,029,000	$73,244,220
VG	Venture Global, Inc.	+481,000	1,870,000	$23,636,800
KGS	Kodiak Gas Services, Inc.	+428,000	728,000	$38,562,160
CORZ	Core Scientific, Inc.	+382,800	389,800	$6,229,004
WTTR	Select Water Solutions, Inc.	+310,000	1,330,000	$26,320,700
EPD	Enterprise Products Partners L.P.	+236,000	1,801,500	$64,151,415
KMI	Kinder Morgan, Inc.	+235,000	2,274,400	$68,573,160
ARKO	ARKO Corp.	+225,000	1,075,000	$4,429,000
IRDM	Iridium Communications Inc.	+180,500	416,500	$19,950,350
CIFR	Cipher Digital Inc.	+133,000	348,000	$5,507,100
AM	Antero Midstream Corp	+123,400	374,400	$7,547,904
CRWD	CrowdStrike Holdings, Inc.	+93,700	122,700	$32,484,825
CRWV	CoreWeave, Inc.	+86,500	88,000	$7,666,560
WES	Western Midstream Partners, LP	+71,000	1,330,900	$59,052,033
NRG	Nrg Energy, Inc.	+62,200	274,900	$26,294,185
IREN	IREN Ltd	+53,400	210,400	$8,601,152
WBI	WaterBridge Infrastructure LLC	+40,000	660,000	$18,559,200
VST	Vistra Corp.	+26,000	224,000	$30,990,400
KNTK	Kinetik Holdings Inc.	+21,000	1,773,000	$89,004,600
TLN	Talen Energy Corp	+15,800	92,600	$28,955,094
CEG	Constellation Energy Corp	+13,800	120,800	$30,685,616
NBIS	Nebius Group N.V.	+13,200	44,500	$10,496,660
MPC	Marathon Petroleum Corp	+11,000	60,800	$24,041,536
ECL	Ecolab Inc.	+10,000	20,000	$5,491,600
GEV	GE Vernova Inc.	+9,950	38,650	$36,736,438
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
ENB	Enbridge Inc	−335,000	621,500	$28,893,535
MPLX	Mplx LP	−283,800	1,330,800	$74,950,656
TXO	TXO Partners, L.P.	−199,000	332,000	$4,538,440
EQT	EQT Corp	−165,000	238,258	$11,569,808
ET	Energy Transfer LP	−151,001	7,772,599	$0
SOBO	South Bow Corp	−150,000	705,500	$23,373,215
TRP	Tc Energy Corp	−100,000	1,145,800	$66,204,324
WMB	Williams Companies, Inc.	−78,000	1,788,100	$121,537,157
TRGP	Targa Resources Corp.	−59,500	554,800	$149,967,988
SUNC	SunocoCorp LLC	−50,000	356,000	$26,037,840
PAGP	Plains Gp Holdings LP	−50,000	3,745,000	$96,995,500
DTM	DT Midstream, Inc.	−43,000	687,100	$82,087,837
OKE	Oneok Inc	−26,000	959,900	$81,850,673
PSX	Phillips 66	−15,000	58,100	$14,833,511
MWH	SOLV Energy, Inc.	−14,000	506,000	$12,154,120
NGL	NGL Energy Partners LP	−13,000	97,000	$1,429,780
NXT	Nextpower Inc.	−7,400	173,600	$13,528,648
LNG	Cheniere Energy, Inc.	−6,700	331,100	$89,075,833
EE	Excelerate Energy, Inc.	−5,500	644,500	$20,707,785
MTZ	Mastec Inc	−4,200	78,600	$16,790,532
ENTG	Entegris Inc	−4,000	55,000	$8,473,300
D	Dominion Energy, Inc	−4,000	113,000	$6,838,760
PWR	Quanta Services, Inc.	−2,550	41,250	$26,503,537
AGX	Argan Inc	−2,200	43,300	$16,365,235
DY	Dycom Industries Inc	−1,000	51,000	$13,723,080
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
AESI	Atlas Energy Solutions Inc.	832,000	$9,992,320
FSLR	First Solar, Inc.	40,000	$7,006,400
DT	Dynatrace, Inc.	80,000	$4,619,200
WULF	Terawulf Inc.	135,000	$1,998,000
CEPL	Capstone Energy Plus, Inc.	20,000	$89,600
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
APC	ARKO Petroleum Corp.	300,000	$5,655,000
ARLP	Alliance Resource Partners LP	150,000	$3,597,000
SEDG	Solaredge Technologies, Inc.	35,000	$2,045,400
ENPH	Enphase Energy, Inc.	40,000	$1,969,600
GEL	Genesis Energy LP	7,000	$99,190
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

73 tracked positions · $2,026,933,161 total · filing declares 73 positions · $2,180,597,445 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Industrials Real Estate Technology Utilities

Showing 1–50 of 73 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TRGP	Targa Resources Corp. Energy	Reduced	554,800	-59,500	$149,967,988	−9.0%	7.40%
WMB	Williams Companies, Inc. Energy	Reduced	1,788,100	-78,000	$121,537,157	−12.4%	6.00%
PAGP	Plains Gp Holdings LP Energy	Reduced	3,745,000	-50,000	$96,995,500	+5.3%	4.79%
LNG	Cheniere Energy, Inc. Energy	Reduced	331,100	-6,700	$89,075,833	+10.3%	4.39%
KNTK	Kinetik Holdings Inc. Energy	Added	1,773,000	+21,000	$89,004,600	+5.1%	4.39%
DTM	DT Midstream, Inc. Energy	Reduced	687,100	-43,000	$82,087,837	−23.4%	4.05%
OKE	Oneok Inc Energy	Reduced	959,900	-26,000	$81,850,673	−4.5%	4.04%
MPLX	Mplx LP Energy	Reduced	1,330,800	-283,800	$74,950,656	−17.6%	3.70%
SEI	Solaris Energy Infrastructure, Inc. Energy	Added	1,029,000	+611,000	$73,244,220	+117.8%	3.61%
KMI	Kinder Morgan, Inc. Energy	Added	2,274,400	+235,000	$68,573,160	+5.2%	3.38%
TRP	Tc Energy Corp Energy	Reduced	1,145,800	-100,000	$66,204,324	−19.8%	3.27%
EPD	Enterprise Products Partners L.P. Energy	Added	1,801,500	+236,000	$64,151,415	+11.5%	3.16%
WES	Western Midstream Partners, LP Energy	Added	1,330,900	+71,000	$59,052,033	+7.1%	2.91%
PBA	Pembina Pipeline Corp Energy	Held	1,158,100	0	$51,628,098	−3.6%	2.55%
BE	Bloom Energy Corp Industrials	Added	145,200	+8,300	$40,217,496	−2.9%	1.98%
KGS	Kodiak Gas Services, Inc. Energy	Added	728,000	+428,000	$38,562,160	+71.1%	1.90%
GEV	GE Vernova Inc. Industrials	Added	38,650	+9,950	$36,736,438	+9.0%	1.81%
CRWD	CrowdStrike Holdings, Inc. Technology	Added	122,700	+93,700	$32,484,825	+46.8%	1.60%
PANW	Palo Alto Networks Inc Technology	Added	80,000	+5,000	$31,784,800	+24.3%	1.57%
VST	Vistra Corp. Utilities	Added	224,000	+26,000	$30,990,400	−1.3%	1.53%
CEG	Constellation Energy Corp Utilities	Added	120,800	+13,800	$30,685,616	+15.5%	1.51%
TLN	Talen Energy Corp Utilities	Added	92,600	+15,800	$28,955,094	−1.9%	1.43%
ENB	Enbridge Inc Energy	Reduced	621,500	-335,000	$28,893,535	−44.3%	1.43%
PWR	Quanta Services, Inc. Industrials	Reduced	41,250	-2,550	$26,503,537	−16.0%	1.31%
WTTR	Select Water Solutions, Inc. Energy	Added	1,330,000	+310,000	$26,320,700	+29.2%	1.30%
NRG	Nrg Energy, Inc. Utilities	Added	274,900	+62,200	$26,294,185	−15.4%	1.30%
SUNC	SunocoCorp LLC Energy	Reduced	356,000	-50,000	$26,037,840	−5.2%	1.28%
MPC	Marathon Petroleum Corp Energy	Added	60,800	+11,000	$24,041,536	+88.8%	1.19%
VG	Venture Global, Inc. Energy	Added	1,870,000	+481,000	$23,636,800	+52.9%	1.17%
SOBO	South Bow Corp Energy	Reduced	705,500	-150,000	$23,373,215	−22.5%	1.15%
NET	Cloudflare, Inc. Technology	Held	60,000	0	$20,836,800	+41.6%	1.03%
EE	Excelerate Energy, Inc. Energy	Reduced	644,500	-5,500	$20,707,785	−16.1%	1.02%
IRDM	Iridium Communications Inc. Communication Services	Added	416,500	+180,500	$19,950,350	+54.1%	0.98%
DOCN	DigitalOcean Holdings, Inc. Technology	Added	145,600	+5,200	$19,421,584	−11.9%	0.96%
WBI	WaterBridge Infrastructure LLC Energy	Added	660,000	+40,000	$18,559,200	−12.7%	0.92%
MTZ	Mastec Inc Industrials	Reduced	78,600	-4,200	$16,790,532	−51.3%	0.83%
AGX	Argan Inc Industrials	Reduced	43,300	-2,200	$16,365,235	−55.0%	0.81%
PSX	Phillips 66 Energy	Reduced	58,100	-15,000	$14,833,511	+20.0%	0.73%
DY	Dycom Industries Inc Industrials	Reduced	51,000	-1,000	$13,723,080	−47.8%	0.68%
NXT	Nextpower Inc. Technology	Reduced	173,600	-7,400	$13,528,648	−37.3%	0.67%
MWH	SOLV Energy, Inc. Utilities	Reduced	506,000	-14,000	$12,154,120	−31.4%	0.60%
EQT	EQT Corp Energy	Reduced	238,258	-165,000	$11,569,808	−46.0%	0.57%
SNOW	Snowflake Inc. Technology	Held	34,000	0	$11,545,040	+33.4%	0.57%
NBIS	Nebius Group N.V. Communication Services	Added	44,500	+13,200	$10,496,660	+21.4%	0.52%
STRL	Sterling Infrastructure, Inc. Industrials	Reduced	20,450	-100	$10,056,901	−41.7%	0.50%
AESI	Atlas Energy Solutions Inc. Energy	NEW	832,000	NEW	$9,992,320	NEW	0.49%
ETR	Entergy Corp Utilities	Held	100,000	0	$9,926,000	−13.6%	0.49%
EROK	EagleRock Land, LLC Energy	Held	470,000	0	$9,776,000	−2.1%	0.48%
IREN	IREN Ltd Financial Services	Added	210,400	+53,400	$8,601,152	+19.8%	0.42%
ENTG	Entegris Inc Technology	Reduced	55,000	-4,000	$8,473,300	−20.2%	0.42%

Showing the top 50 of 73 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.