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Livermore
Livermore
ZHEN

Cushing Asset Management, LP

SEC CIK
0001329375
Latest filing
Jul 28, 2026

The latest 13F from Cushing Asset Management, LP covers Q2 2026 (filed Jul 28, 2026): 73 long positions worth $2.23B. The top 10 holdings make up 48.3% of the portfolio, and the largest is Targa Resources Corp. (TRGP) at 7.4%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
14
Est. +$102.3M
Added
34
Est. +$187.7M
Reduced
22
Est. −$163.2M
Sold out
5
Est. −$32.6M

Top 5 holdings

Share of this quarter's portfolio value

  1. TRGPTarga Resources Corp.
    7.4%$164.7MHistory
  2. ETEnergy Transfer LP
    6.8%$151.5MHistory
  3. WMBWilliams Companies, Inc.
    6.2%$138.7MHistory
  4. DTMDT Midstream, Inc.
    4.8%$107.1MHistory
  5. PAGPPlains GP Holdings LP
    4.1%$92.1MHistory

Share of portfolio

Top 5 holdings and the other 68 positions, by share of portfolio value

  1. TRGP7.4%
  2. ET6.8%
  3. WMB6.2%
  4. DTM4.8%
  5. PAGP4.1%
  6. Other 68 positions70.7%

Biggest buys

New and added positions, by estimated amount bought

  1. KGSKodiak Gas Services, Inc.
    +$22.5MNewHistory
  2. VGVenture Global, Inc.
    +$15.5MNewHistory
  3. WBIWaterBridge Infrastructure LLC
    +$14.3MAddedHistory
  4. SUNCSunocoCorp LLC
    +$13.9MAddedHistory
  5. LNGCheniere Energy, Inc.
    +$13.9MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. KGSKodiak Gas Services, Inc.
    +1.01 pp0.0% → 1.0%History
  2. BEBloom Energy Corp
    +0.94 pp0.9% → 1.9%History
  3. VGVenture Global, Inc.
    +0.69 pp0.0% → 0.7%History
  4. WBIWaterBridge Infrastructure LLC
    +0.68 pp0.3% → 1.0%History
  5. SUNCSunocoCorp LLC
    +0.62 pp0.6% → 1.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MPCMarathon Petroleum Corp
    −$23.8MReducedHistory
  2. KMIKinder Morgan, Inc.
    −$21.8MReducedHistory
  3. PRIMPrimoris Services Corp
    −$21.7MSold outHistory
  4. WESWestern Midstream Partners, LP
    −$18.2MReducedHistory
  5. PSXPhillips 66
    −$18.1MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. KMIKinder Morgan, Inc.
    −1.63 pp4.5% → 2.9%History
  2. MPLXMPLX LP
    −1.21 pp5.3% → 4.1%History
  3. MPCMarathon Petroleum Corp
    −1.17 pp1.7% → 0.6%History
  4. PRIMPrimoris Services Corp
    −1.08 pp1.1% → 0.0%History
  5. PSXPhillips 66
    −1.08 pp1.6% → 0.6%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$2.23B
+$226.0M (+11.3%) vs. prior quarter
Positions
73
+9 vs. prior quarter
Top 10 concentration
48.3%
Top 10 as share of value
Turnover
9.2%
Q2 2026, one quarter
Average holding period
15.1 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $2.23B (Q2 2026)

Q1 2021: $893.8MQ2 2021: $1.03BQ3 2021: $1.01BQ4 2021: $988.0MQ1 2022: $1.12BQ2 2022: $971.0MQ3 2022: $986.2MQ4 2022: $1.05BQ1 2023: $985.2MQ2 2023: $1.03BQ3 2023: $987.0MQ4 2023: $1.09BQ1 2024: $1.18BQ2 2024: $1.26BQ3 2024: $1.36BQ4 2024: $1.51BQ1 2025: $1.62BQ2 2025: $1.65BQ3 2025: $1.76BQ4 2025: $1.74BQ1 2026: $2.01BQ2 2026: $2.23B
Q1 2021Q2 2026
13F filings of Cushing Asset Management, LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 28, 202673$2.23BTRGPETWMBvs. Q1 2026SEC
Q1 2026Apr 28, 202664$2.01BTRGPETWMBvs. Q4 2025SEC
Q4 2025Jan 27, 202660$1.74BETTRGPMPLXvs. Q3 2025SEC
Q3 2025Oct 20, 202559$1.76BETTRGPLNGvs. Q2 2025SEC
Q2 2025Jul 14, 202560$1.65BETTRGPLNGvs. Q1 2025SEC
Q1 2025Apr 24, 202560$1.62BETTRGPLNGvs. Q4 2024SEC
Q4 2024Jan 21, 202564$1.51BETTRGPLNGvs. Q3 2024SEC
Q3 2024Oct 21, 202462$1.36BETTRGPLNGvs. Q2 2024SEC
Q2 2024Jul 22, 202457$1.26BETTRGPLNGvs. Q1 2024SEC
Q1 2024Apr 24, 202456$1.18BETTRGPLNGvs. Q4 2023SEC
Q4 2023Jan 18, 202456$1.09BTRGPETLNGvs. Q3 2023SEC
Q3 2023Oct 26, 202359$987.0METTRGPPAGPvs. Q2 2023SEC
Q2 2023Aug 14, 202372$1.03BTRGPETPAGPvs. Q1 2023SEC
Q1 2023May 15, 202372$985.2MTRGPETPAGPvs. Q4 2022SEC
Q4 2022Feb 14, 202374$1.05BTRGPETPAGPvs. Q3 2022SEC
Q3 2022Nov 14, 202273$986.2MLNGETTRGPvs. Q2 2022SEC
Q2 2022Aug 15, 202289$971.0MLNGETTRGPvs. Q1 2022SEC
Q1 2022May 16, 202294$1.12BETTRGPLNGvs. Q4 2021SEC
Q4 2021Feb 14, 2022101$988.0MTRGPETLNGvs. Q3 2021SEC
Q3 2021Nov 15, 2021104$1.01BETTRGPPAGPvs. Q2 2021SEC
Q2 2021Aug 16, 2021105$1.03BETTRGPPAGPvs. Q1 2021SEC
Q1 2021May 17, 2021111$893.8METTRGPPAGP–SEC

13D and 13G filings

Companies where Cushing Asset Management, LP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Cushing Asset Management, LP does not currently report owning 5% or more of any company.

Latest filings

2 filings on file made by Cushing Asset Management, LP or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Cushing Asset Management, LP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
APCARKO Petroleum Corp.May 19, 202611:34 AM ET13G/A2.40%300.0K shares−4.00 ppfrom 6.40%Below 5%May 8, 2026SEC
APCARKO Petroleum Corp.Feb 20, 20269:45 PM ET13G6.40%715.0K sharesNewFeb 12, 2026SEC