Cushing Asset Management, LP dba NXG Investment Management holds a focused book of 64 stocks worth $2.0B as of Q1 2026 (disclosed Apr 28, 2026, a ~45-day 13F lag). This quarter they opened Arko Petroleum Corp and trimmed Targa Resources Corp. Their largest long position is Targa Resources Corp at 8% of the equity book. They also disclosed $11.4M in put options (a bearish bet), shown separately below and excluded from the equity book.
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Use Arkolith to show CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT's latest holdings, largest changes, and filing provenance.
Top-heavy: focused book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
100% mapped to company sectors
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices, no cost basis
Bars show each stock's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | Targa Res Corp COM | $163.6M | 652.3K | 8.1% | ▼−4.3% Reduced · −29K sh | |
| 2 | Energy Transfer L P COM UT LTD PTN | $154.4M | 8.00M | 7.7% | ▲+0.1% Added · +6K sh | |
| 3 | Williams Cos Inc COM | $123.7M | 1.70M | 6.2% | ▲+6.6% Added · +105K sh | |
| 4 | MPLX LP COM UNIT REP LTD | $106.1M | 1.86M | 5.3% | ▼−1.3% Reduced · −25K sh | |
| 5 | DT Midstream Inc COMMON STOCK | $97.9M | 727.1K | 4.9% | ▼−3.0% Reduced · −22K sh | |
| 6 | Oneok Inc New COM | $96.7M | 1.07M | 4.8% | ▼−18% Reduced · −228K sh | |
| 7 | Kinder Morgan Inc Del COM | $91.3M | 2.72M | 4.5% | ▼−5.0% Reduced · −143K sh | |
| 8 | Kinetik Holdings Inc COM NEW CL A | $90.7M | 1.87M | 4.5% | ▲+1.6% Added · +31K sh | |
| 9 | Plains GP Hldgs L P LTD PARTNR INT A | $84.0M | 3.46M | 4.2% | ▼−7.1% Reduced · −265K sh | |
| 10 | TC Energy Corp COM | $80.2M | 1.28M | 4.0% | ▼−1.1% Reduced · −15K sh | |
| 11 | Cheniere Energy Inc COM NEW | $79.4M | 279.8K | 4.0% | ▼−14% Reduced · −45K sh | |
| 12 | Western Midstream Partners L COM UNIT LP INT | $69.0M | 1.68M | 3.4% | ▲+8.8% Added · +136K sh | |
| 13 | Enterprise Prods Partners L COM | $66.0M | 1.75M | 3.3% | ▼−2.6% Reduced · −47K sh | |
| 14 | Pembina Pipeline Corp COM | $60.7M | 1.36M | 3.0% | ▲+0.7% Added · +10K sh | |
| 15 | Enbridge Inc COM | $54.2M | 1.00M | 2.7% | ▲+67% Added · +400K sh | |
| 16 | Marathon Pete Corp COM | $34.9M | 142.8K | 1.7% | ▲+73% Added · +60K sh | |
| 17 | Phillips 66 COM | $32.8M | 180.1K | 1.6% | ▼−5.7% Reduced · −11K sh | |
| 18 | South Bow Corp COM | $28.8M | 865.5K | 1.4% | ▼−42% Reduced · −625K sh | |
| 19 | Talen Energy Corp COM | $28.5M | 89.3K | 1.4% | ▼−24% Reduced · −28K sh | |
| 20 | Vistra Corp COM | $27.6M | 183.6K | 1.4% | ▼−12% Reduced · −25K sh | |
| 21 | Eqt Corp COM | $25.7M | 403.3K | 1.3% | ▲+17% Added · +59K sh | |
| 22 | NRG Energy Inc COM NEW | $24.9M | 170.5K | 1.2% | ▲+5.2% Added · +9K sh | |
| 23 | Constellation Energy Corp COM | $23.1M | 82.7K | 1.1% | ▼−29% Reduced · −34K sh | |
| 24 | Mastec Inc COM | $22.8M | 70.9K | 1.1% | ▲+0.6% Added · +400 sh | |
| 25 | Solaris Energy Infras Inc COM CL A | $21.9M | 388.0K | 1.1% | ▲+536% Added · +327K sh | |
| 26 | Primoris Svcs Corp COM | $21.7M | 152.0K | 1.1% | ▲+20% Added · +25K sh | |
| 27 | Ge Vernova Inc COM | $20.9M | 24.0K | 1.0% | ▼−50% Reduced · −24K sh | |
| 28 | Quanta Svcs Inc COM | $20.9M | 38.0K | 1.0% | ▼−2.6% Reduced · −1K sh | |
| 29 | Argan Inc COM | $20.7M | 38.0K | 1.0% | ▲+8.6% Added · +3K sh | |
| 30 | Bloom Energy Corp COM CL A | $18.3M | 135.0K | 0.9% | ▲+17% Added · +20K sh | |
| 31 | Nextpower Inc CLASS A COM | $17.2M | 143.0K | 0.9% | ▼−12% Reduced · −20K sh | |
| 32 | Arko Pete Corp CL A COM | $12.7M | 712.5K | 0.6% | ▲New New position | |
| 33 | Sunococorp LLC COM SHS LLC | $12.3M | 200.0K | 0.6% | ▲New New position | |
| 34 | Dycom Inds Inc COM | $12.2M | 36.0K | 0.6% | ▲+140% Added · +21K sh | |
| 35 | Crowdstrike Hldgs Inc CL A | $11.7M | 30.0K | 0.6% | ▲+20% Added · +5K sh | |
| 36 | Palo Alto Networks Inc COM | $11.5M | 72.0K | 0.6% | ▲+53% Added · +25K sh | |
| 37 | Digitalocean Hldgs Inc COM | $11.3M | 132.2K | 0.6% | ▲+14% Added · +16K sh | |
| 38 | Excelerate Energy Inc CL A COM | $10.9M | 325.0K | 0.5% | ▲New New position | |
| 39 | Cloudflare Inc CL A COM | $10.3M | 50.0K | 0.5% | ▲+67% Added · +20K sh | |
| 40 | Viper Energy Inc CL A | $9.6M | 205.0K | 0.5% | ▼−27% Reduced · −74K sh | |
| 41 | NextEra Energy Inc COM | $8.8M | 95.0K | 0.4% | ▲+90% Added · +45K sh | |
| 42 | Txo Partners LP COM UNIT | $7.3M | 581.0K | 0.4% | —Held | |
| 43 | Entergy Corp New COM | $7.1M | 63.0K | 0.4% | —Held | |
| 44 | Select Water Solutions Inc CL A COM | $6.4M | 420.0K | 0.3% | ▲New New position | |
| 45 | Digital Rlty TR Inc COM | $6.1M | 34.0K | 0.3% | —Held | |
| 46 | Solv Energy Inc COM SHS CL A | $6.0M | 200.0K | 0.3% | ▲New New position | |
| 47 | Waterbridge Infrastructure L CL A SHS REPSTG | $5.4M | 202.5K | 0.3% | ▲New New position | |
| 48 | Iren Limited ORDINARY SHARES | $5.4M | 157.0K | 0.3% | ▲+2.6% Added · +4K sh | |
| 49 | Alliance Resource Partners L UT LTD PART | $5.3M | 191.0K | 0.3% | —Held | |
| 50 | Sterling Infrastructure Inc COM | $4.7M | 11.6K | 0.2% | ▲New New position |
Put / call positions from the 13F — totals include every disclosed option leg
| Type | Underlying | Notional value | Underlying shares |
|---|---|---|---|
| PUT · bearish | SS ENERGY SELECT SECTORXLE | $6.1M | 100K |
| PUT · bearish | ALERIAN MLP ETFAMLP | $5.3M | 100K |
13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the equity book, weighting, concentration and sector figures above.
As-of date vs the date the SEC received each filing
| Quarter | As of | Filed | Positions | Value | Form |
|---|---|---|---|---|---|
| Q1 2026 | Mar 31, 2026 | Apr 28, 2026 | 66 | $2.0B | 13F-HR |
| Q4 2025 | Dec 31, 2025 | Jan 27, 2026 | 60 | $1.7B | 13F-HR |
| Q3 2025 | Sep 30, 2025 | Oct 20, 2025 | 59 | $1.8B | 13F-HR |
| Q2 2025 | Jun 30, 2025 | Jul 14, 2025 | 68 | $1.7B | 13F-HR |
| Q1 2025 | Mar 31, 2025 | Apr 24, 2025 | 61 | $1.6B | 13F-HR |
| Q4 2024 | Dec 31, 2024 | Jan 21, 2025 | 68 | $1.5B | 13F-HR |
| Q3 2024 | Sep 30, 2024 | Oct 21, 2024 | 63 | $1.4B | 13F-HR |
| Q2 2024 | Jun 30, 2024 | Jul 22, 2024 | 59 | $1.3B | 13F-HR |
| Q1 2024 | Mar 31, 2024 | Apr 24, 2024 | 56 | $1.2B | 13F-HR |
| Q4 2023 | Dec 31, 2023 | Jan 18, 2024 | 57 | $1.1B | 13F-HR |
| Q3 2023 | Sep 30, 2023 | Oct 26, 2023 | 59 | $987.0M | 13F-HR |
| Q2 2023 | Jun 30, 2023 | Aug 14, 2023 | 72 | $1.0B | 13F-HR |
| Q1 2023 | Mar 31, 2023 | May 15, 2023 | 74 | $993.5M | 13F-HR |
| Q4 2022 | Dec 31, 2022 | Feb 14, 2023 | 75 | $1.1B | 13F-HR |
| Q3 2022 | Sep 30, 2022 | Nov 14, 2022 | 75 | $989.8M | 13F-HR |
| Q2 2022 | Jun 30, 2022 | Aug 15, 2022 | 91 | $975.9M | 13F-HR |
| Q1 2022 | Mar 31, 2022 | May 16, 2022 | 96 | $1.1B | 13F-HR |
| Q4 2021 | Dec 31, 2021 | Feb 14, 2022 | 105 | $1.0B | 13F-HR |
| Q3 2021 | Sep 30, 2021 | Nov 15, 2021 | 110 | $1.0B | 13F-HR |
| Q2 2021 | Jun 30, 2021 | Aug 16, 2021 | 113 | $1.1B | 13F-HR |
| Q1 2021 | Mar 31, 2021 | May 17, 2021 | 115 | $894.1M | 13F-HR |
| Q4 2020 | Dec 31, 2020 | Feb 16, 2021 | 127 | $901.6M | 13F-HR |
| Q3 2020 | Sep 30, 2020 | Nov 16, 2020 | 107 | $694.1M | 13F-HR |
| Q2 2020 | Jun 30, 2020 | Aug 14, 2020 | 137 | $884.9M | 13F-HR |
Holdings from SEC EDGAR 13F-HR filings, updated quarterly ~45 days after quarter-end. Public domain. The book and weighting are long equity only; disclosed put/call options are listed separately and excluded from those totals. Price-derived performance is withheld until the price-source policy and freshness gate are green.