Latest CUSHING ASSET MANAGEMENT, LP Stock Portfolio

CUSHING ASSET MANAGEMENT, LP Performance:

2025 Q4: -1.54%YTD: 4.67%2024: 32.63%

Performance for 2025 Q4 is -1.54%, and YTD is 4.67%, and 2024 is 32.63%.

About CUSHING ASSET MANAGEMENT, LP and 13F Hedge Fund Stock Holdings

CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT is a hedge fund based in DALLAS, TX. On 23-Jun-2023, the fund reported that it had an AUM (Regulated Assets under Management) of $1.1 Billions. In it's latest 13F Holdings report, CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT reported an equity portfolio of $1.7 Billions as of 31 Dec, 2025.

The top stock holdings of CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT are ET, TRGP, MPLX. The fund has invested 7.6% of it's portfolio in ENERGY TRANSFER L P and 7.2% of portfolio in TARGA RES CORP.

The fund managers got completely rid off EDISON INTL (EIX), STRATEGY INC (MSTR) and ITRON INC (ITRI) stocks. They significantly reduced their stock positions in GENESIS ENERGY L P (GEL), ANTERO MIDSTREAM CORP (AM) and NGL ENERGY PARTNERS LP (NGL). CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT opened new stock positions in IREN LIMITED, DIGITALOCEAN HLDGS INC (DOCN) and DYCOM INDS INC (DY). The fund showed a lot of confidence in some stocks as they added substantially to KINETIK HOLDINGS INC (KNTK), SNOWFLAKE INC (SNOW) and NEXTPOWER INC.

CUSHING ASSET MANAGEMENT, LP Annual Return Estimates Vs S&P 500

Our best estimate is that CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT made a return of -1.54% in the last quarter. In trailing 12 months, it's portfolio return was 4.67%.

Performance
S&P 500

New Buys

Ticker	$ Bought
iren limited	5,778,810
digitalocean hldgs inc	5,581,920
dycom inds inc	5,068,500
microsoft corp	4,836,200
oracle corp	4,482,930
nextera energy inc	4,014,000
solaris energy infras inc	2,804,170
cleanspark inc	202,400

New stocks bought by CUSHING ASSET MANAGEMENT, LP

Additions

Ticker	% Inc.
kinetik holdings inc	86.5
snowflake inc	76.92
nextpower inc	52.34
mastec inc	50.00
primoris svcs corp	47.67
wec energy group inc	34.62
cenovus energy inc	33.72
williams cos inc	32.91

Additions to existing portfolio by CUSHING ASSET MANAGEMENT, LP

Reductions

Ticker	% Reduced
genesis energy l p	-72.92
antero midstream corp	-65.12
ngl energy partners lp	-45.45
hess midstream lp	-41.43
bloom energy corp	-38.5
new fortress energy inc	-33.33
cheniere energy inc	-27.95
alliance resource partners l	-20.75

CUSHING ASSET MANAGEMENT, LP reduced stake in above stock

Sold off

Ticker	$ Sold
edison intl	-10,503,200
nutanix inc	-4,463,400
itron inc	-6,726,240
t-mobile us inc	-6,463,260
strategy inc	-8,055,250
motorola solutions inc	-4,115,610
equinix inc	-5,482,680

CUSHING ASSET MANAGEMENT, LP got rid off the above stocks

Sector Distribution

CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT has about 68.2% of it's holdings in Energy sector.

Sector	%
Energy	68.2
Others	16.4
Utilities	7.2
Industrials	4.2
Technology	3.7

Market Cap. Distribution

CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT has about 62.7% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	62.7
MID-CAP	19.3
UNALLOCATED	16.4

Stocks belong to which Index?

About 41.2% of the stocks held by CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	58.8
S&P 500	34.5
RUSSELL 2000	6.7

Top 5 Winners (%)		%
NGL	ngl energy partners lp	51.5 %
FSLR	first solar inc	17.5 %
AGX	argan inc	15.0 %
	nextpower inc	14.3 %
TRGP	targa res corp	10.1 %

Top 5 Winners ($)		$
TRGP	targa res corp	11.6 M
MPLX	mplx lp	6.2 M
DTM	dt midstream inc	4.7 M
PAGP	plains gp hldgs l p	3.3 M
CEG	constellation energy corp	2.9 M

Top 5 Losers (%)		%
NFE	new fortress energy inc	-40.4 %
	txo partners lp	-24.1 %
VST	vistra corp	-16.8 %
MPC	marathon pete corp	-15.3 %
LNG	cheniere energy inc	-14.9 %

Top 5 Losers ($)		$
LNG	cheniere energy inc	-15.7 M
KNTK	kinetik holdings inc	-9.5 M
VST	vistra corp	-7.6 M
	talen energy corp	-5.6 M
ET	energy transfer l p	-5.4 M

CUSHING ASSET MANAGEMENT, LP Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of CUSHING ASSET MANAGEMENT, LP

CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT has 60 stocks in it's portfolio. About 53.1% of the portfolio is in top 10 stocks. LNG proved to be the most loss making stock for the portfolio. TRGP was the most profitable stock for CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT last quarter.

Last Reported on: 27 Jan, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AEP	american elec pwr co inc	0.16	25,000	2,882,750	unchanged	0.00

AGX	argan inc	0.63	35,000	10,966,200	added	12.9

AM	antero midstream corp	0.32	316,000	5,621,640	reduced	-65.12

ARLP	alliance resource partners l	0.25	191,000	4,436,930	reduced	-20.75

BE	bloom energy corp	0.57	115,000	9,992,350	reduced	-38.5

CEG	constellation energy corp	2.36	116,700	41,226,600	reduced	-2.51

CLSK	cleanspark inc	0.01	20,000	202,400	new

CRWD	crowdstrike hldgs inc	0.67	25,000	11,719,000	added	8.7

DLR	digital rlty tr inc	0.30	34,000	5,260,140	unchanged	0.00

DOCN	digitalocean hldgs inc	0.32	116,000	5,581,920	new

DTM	dt midstream inc	5.14	749,300	89,676,200	added	10.3

DY	dycom inds inc	0.29	15,000	5,068,500	new

EIX	edison intl	0.00	0.00	0.00	sold off	-100

ENB	enbridge inc	1.65	601,500	28,769,700	added	19.94

EPD	enterprise prods partners l	3.30	1,792,500	57,467,600	reduced	-10.04

EQIX	equinix inc	0.00	0.00	0.00	sold off	-100

EQT	eqt corp	1.06	344,258	18,452,200	reduced	-2.55

ET	energy transfer l p	7.56	7,991,600	131,781,000	reduced	-2.68

ETR	entergy corp new	0.33	63,000	5,823,090	unchanged	0.00

FSLR	first solar inc	1.02	68,000	17,763,600	added	9.68