Cushing Asset Management, L.P. Dba Nxg Investment Management 13F annual report
Cushing Asset Management, L.P. Dba Nxg Investment Management is an investment fund managing more than $1.24 trillion ran by John Musgrave. There are currently 55 companies in Mr. Musgrave’s portfolio. The largest investments include Energy Transfer L P and Targa Res Corp, together worth $218 billion.
$1.24 trillion Assets Under Management (AUM)
As of 15th July 2024, Cushing Asset Management, L.P. Dba Nxg Investment Management’s top holding is 6,757,463 shares of Energy Transfer L P currently worth over $110 billion and making up 8.8% of the portfolio value.
In addition, the fund holds 843,340 shares of Targa Res Corp worth $109 billion.
The third-largest holding is Cheniere worth $85.9 billion and the next is Plains Gp Hldgs L P worth $81.3 billion, with 4,320,000 shares owned.
Currently, Cushing Asset Management, L.P. Dba Nxg Investment Management's portfolio is worth at least $1.24 trillion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Cushing Asset Management, L.P. Dba Nxg Investment Management
The Cushing Asset Management, L.P. Dba Nxg Investment Management office and employees reside in Dallas, Texas. According to the last 13-F report filed with the SEC, John Musgrave serves as the President and CEO at Cushing Asset Management, L.P. Dba Nxg Investment Management.
Recent trades
In the most recent 13F filing, Cushing Asset Management, L.P. Dba Nxg Investment Management revealed that it had opened a new position in
Antero Midstream Corp and bought 1,097,000 shares worth $16.2 billion.
This means they effectively own approximately 0.1% of the company.
Antero Midstream Corp makes up
2.5%
of the fund's Energy sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Energy Transfer L P by buying
295,000 additional shares.
This makes their stake in Energy Transfer L P total 6,757,463 shares worth $110 billion.
On the other hand, there are companies that Cushing Asset Management, L.P. Dba Nxg Investment Management is getting rid of from its portfolio.
Cushing Asset Management, L.P. Dba Nxg Investment Management closed its position in Pioneer Nat Res Co on 22nd July 2024.
It sold the previously owned 27,000 shares for $7.09 billion.
John Musgrave also disclosed a decreased stake in Targa Res Corp by approximately 0.1%.
This leaves the value of the investment at $109 billion and 843,340 shares.
One of the largest hedge funds
The two most similar investment funds to Cushing Asset Management, L.P. Dba Nxg Investment Management are Avity Investment Management Inc and Sourcerock. They manage $1.24 trillion and $1.24 trillion respectively.
John Musgrave investment strategy
Cushing Asset Management, L.P. Dba Nxg Investment Management’s portfolio is diversified across 5 sectors.
Currently, their heaviest sector is Energy — making up 51.9% of
the total portfolio value.
The fund focuses on investments in the United States as
47.3% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
27% of the total holdings value.
On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $91.9 billion.
The complete list of Cushing Asset Management, L.P. Dba Nxg Investment Management trades based on 13F SEC filings
These positions were updated on July 22nd based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Energy Transfer L P |
4.56%
6,757,463
|
$109,606,050,000 | 8.84% |
| Targa Res Corp |
5.05%
843,340
|
$108,605,325,000 | 8.76% |
| Cheniere Energy Inc. |
2.19%
491,180
|
$85,872,999,000 | 6.93% |
| Plains Gp Hldgs L P |
0.92%
4,320,000
|
$81,302,400,000 | 6.56% |
| Oneok Inc. |
No change
850,933
|
$69,393,586,000 | 5.60% |
| Kinder Morgan Inc |
2.45%
3,178,295
|
$63,152,722,000 | 5.09% |
| Dt Midstream Inc |
25.98%
877,585
|
$62,334,863,000 | 5.03% |
| Williams Cos Inc |
6.05%
1,403,053
|
$59,629,753,000 | 4.81% |
| MPLX LP |
1.99%
1,281,122
|
$54,562,986,000 | 4.40% |
| Pembina Pipeline Corporation |
1.85%
1,429,805
|
$53,017,169,000 | 4.28% |
| Equitrans Midstream Corporation |
0.99%
4,080,150
|
$52,960,347,000 | 4.27% |
| Enterprise Prods Partners L |
0.73%
1,757,179
|
$50,923,047,000 | 4.11% |
| Western Midstream Partners L |
19.03%
1,195,270
|
$47,488,077,000 | 3.83% |
| Hess Midstream LP |
3.77%
1,274,800
|
$46,453,712,000 | 3.75% |
| Enlink Midstream LLC |
6.99%
2,511,557
|
$34,559,024,000 | 2.79% |
| Phillips 66 |
17.88%
236,060
|
$33,324,590,000 | 2.69% |
| TC Energy Corporation |
40.98%
856,660
|
$32,467,414,000 | 2.62% |
| Marathon Pete Corp |
13.49%
128,290
|
$22,255,749,000 | 1.80% |
| Enbridge Inc |
No change
562,695
|
$20,026,315,000 | 1.62% |
| Antero Midstream Corp |
Opened
1,097,000
|
$16,169,780,000 | 1.30% |
| Kinetik Holdings Inc |
1.70%
344,136
|
$14,260,996,000 | 1.15% |
| Clearway Energy, Inc. |
28.01%
491,000
|
$12,122,790,000 | 0.98% |
| Viper Energy Inc |
5.19%
304,050
|
$11,410,997,000 | 0.92% |
| Vistra Corp |
32.22%
119,000
|
$10,231,620,000 | 0.83% |
| First Solar Inc |
Opened
41,500
|
$9,356,590,000 | 0.75% |
| Pioneer Nat Res Co |
Closed
27,000
|
$7,087,500,000 | |
| NextEra Energy Partners LP |
20.30%
255,165
|
$7,052,761,000 | 0.57% |
| Cenovus Energy Inc |
2.81%
277,000
|
$5,445,820,000 | 0.44% |
| New Fortress Energy LLC |
Closed
176,000
|
$5,383,840,000 | |
| Txo Partners Lp |
10.47%
265,000
|
$5,342,400,000 | 0.43% |
| Algonquin Pwr Utils Corp |
Opened
828,000
|
$4,852,080,000 | 0.39% |
| Constellation Energy Corp |
187.50%
23,000
|
$4,606,210,000 | 0.37% |
| Crowdstrike Holdings Inc |
No change
12,000
|
$4,598,280,000 | 0.37% |
| NRG Energy Inc. |
Opened
53,000
|
$4,126,580,000 | 0.33% |
| Alliance Resource Partners L |
328.57%
150,000
|
$3,669,000,000 | 0.30% |
| Quanta Svcs Inc |
40.00%
14,000
|
$3,557,260,000 | 0.29% |
| Cleanspark Inc |
11.11%
200,000
|
$3,190,000,000 | 0.26% |
| Itron Inc. |
76.47%
30,000
|
$2,968,800,000 | 0.24% |
| Akamai Technologies Inc |
Closed
25,000
|
$2,719,000,000 | |
| Verizon Communications Inc |
77.14%
62,000
|
$2,556,880,000 | 0.21% |
| Jacobs Solutions Inc |
21.43%
17,000
|
$2,375,070,000 | 0.19% |
| Delek Logistics Partners LP |
31.67%
51,250
|
$2,074,600,000 | 0.17% |
| Nextracker Inc |
Opened
44,000
|
$2,062,720,000 | 0.17% |
| Excelerate Energy Inc |
No change
110,000
|
$2,028,400,000 | 0.16% |
| Public Svc Enterprise Grp In |
Opened
27,000
|
$1,989,900,000 | 0.16% |
| Nutanix Inc |
Opened
35,000
|
$1,989,750,000 | 0.16% |
| Sitio Royalties Corp |
No change
82,000
|
$1,936,020,000 | 0.16% |
| Vital Energy Inc |
No change
42,000
|
$1,882,440,000 | 0.15% |
| Ovintiv Inc |
Closed
35,000
|
$1,816,500,000 | |
| Republic Svcs Inc |
Opened
9,000
|
$1,749,060,000 | 0.14% |
| Exxon Mobil Corp. |
Opened
15,000
|
$1,726,800,000 | 0.14% |
| Microsoft Corporation |
40.00%
3,000
|
$1,340,850,000 | 0.11% |
| Ormat Technologies Inc |
Closed
20,000
|
$1,323,800,000 | |
| Primoris Svcs Corp |
Opened
24,000
|
$1,197,360,000 | 0.10% |
| Crown Castle Inc |
Closed
10,000
|
$1,058,300,000 | |
| Hannon Armstrong Sust Infr C |
Opened
35,000
|
$1,036,000,000 | 0.08% |
| Att Inc |
Closed
55,000
|
$968,000,000 | |
| Valaris Ltd |
25.00%
12,000
|
$894,000,000 | 0.07% |
| Range Res Corp |
No change
18,000
|
$603,540,000 | 0.05% |
| Antero Resources Corp |
98.69%
16,200
|
$528,606,000 | 0.04% |
| Plug Power Inc |
Closed
143,382
|
$493,234,000 | |
| Crescent Energy Company |
No change
41,395
|
$490,531,000 | 0.04% |
| Comstock Res Inc |
No change
46,500
|
$482,670,000 | 0.04% |
| Atlantica Sustainable Infr P |
Closed
25,000
|
$462,000,000 | |
| Nxg Cushing Midstream Energy |
Closed
3,656
|
$150,737,000 | |
| No transactions found | |||
| Showing first 500 out of 65 holdings | |||
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