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CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT

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13F filer, CIK 1329375, DALLAS, TX

CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT reported $2,020,119,164 across 66 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-04-28. Its ten largest share positions make up 54.19% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001315863-26-000367

Period
2026-03-31
Reported value
$2.02B
Holdings
66
Top 10 weight
54.19%
New
12
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ENBadded+400,000$21.7M
SEIadded+327,000$18.5M
MPCadded+60,300$14.7M
APCnew+712,451$12.7M
SUNCnew+200,000$12.3M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
HESMexited-1,357,200-$46.8M
SOBOreduced-625,000-$20.8M
GEVreduced-23,850-$20.8M
OKEreduced-228,016-$20.6M
FSLRexited-68,000-$17.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001315863-26-000367, largest first. % of portfolio is the value over $2,008,729,164, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TRGPTARGA RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 780,861 shares; 2024Q4: 672,711 shares; 2025Q1: 684,542 shares; 2025Q2: 666,300 shares; 2025Q3: 682,300 shares; 2025Q4: 681,300 shares; 2026Q1: 652,300 shares 652,300$164M8.14%-29,000Timeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 7,293,510 shares; 2024Q4: 7,586,598 shares; 2025Q1: 7,416,868 shares; 2025Q2: 7,182,600 shares; 2025Q3: 8,211,600 shares; 2025Q4: 7,991,600 shares; 2026Q1: 7,997,600 shares 7,997,600$154M7.68%+6,000Timeline
WMBWILLIAMS COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,111,523 shares; 2024Q4: 1,334,570 shares; 2025Q1: 1,347,047 shares; 2025Q2: 1,191,100 shares; 2025Q3: 1,200,100 shares; 2025Q4: 1,595,100 shares; 2026Q1: 1,700,100 shares 1,700,100$124M6.16%+105,000Timeline
MPLXMPLX LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,498,796 shares; 2024Q4: 1,506,962 shares; 2025Q1: 1,822,709 shares; 2025Q2: 1,715,800 shares; 2025Q3: 1,733,800 shares; 2025Q4: 1,883,800 shares; 2026Q1: 1,859,100 shares 1,859,100$106M5.28%-24,700Timeline
DTMDT MIDSTREAM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 827,530 shares; 2024Q4: 784,562 shares; 2025Q1: 750,623 shares; 2025Q2: 748,300 shares; 2025Q3: 679,300 shares; 2025Q4: 749,300 shares; 2026Q1: 727,100 shares 727,100$97.9M4.87%-22,200Timeline
OKEONEOK INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 882,673 shares; 2024Q4: 847,465 shares; 2025Q1: 1,138,825 shares; 2025Q2: 1,324,916 shares; 2025Q3: 1,116,916 shares; 2025Q4: 1,297,916 shares; 2026Q1: 1,069,900 shares 1,069,900$96.7M4.81%-228,016Timeline
KMIKINDER MORGAN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,820,545 shares; 2024Q4: 2,626,684 shares; 2025Q1: 2,869,128 shares; 2025Q2: 2,514,400 shares; 2025Q3: 2,630,000 shares; 2025Q4: 2,865,000 shares; 2026Q1: 2,722,300 shares 2,722,300$91.3M4.54%-142,700Timeline
KNTKKINETIK HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 398,136 shares; 2024Q4: 440,000 shares; 2025Q1: 590,000 shares; 2025Q2: 779,000 shares; 2025Q3: 988,400 shares; 2025Q4: 1,843,400 shares; 2026Q1: 1,874,000 shares 1,874,000$90.7M4.52%+30,600Timeline
PAGPPLAINS GP HLDGS L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 4,373,000 shares; 2024Q4: 3,953,000 shares; 2025Q1: 4,033,000 shares; 2025Q2: 3,543,000 shares; 2025Q3: 3,585,000 shares; 2025Q4: 3,725,000 shares; 2026Q1: 3,460,000 shares 3,460,000$84M4.18%-265,000Timeline
TRPTC ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,214,265 shares; 2024Q4: 1,416,324 shares; 2025Q1: 1,559,786 shares; 2025Q2: 1,250,500 shares; 2025Q3: 1,365,500 shares; 2025Q4: 1,295,500 shares; 2026Q1: 1,280,600 shares 1,280,600$80.2M3.99%-14,900Timeline
LNGCHENIERE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 532,185 shares; 2024Q4: 505,122 shares; 2025Q1: 541,142 shares; 2025Q2: 459,900 shares; 2025Q3: 450,800 shares; 2025Q4: 324,800 shares; 2026Q1: 279,800 shares 279,800$79.4M3.95%-45,000Timeline
WESWESTERN MIDSTREAM PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,315,472 shares; 2024Q4: 1,280,597 shares; 2025Q1: 1,333,624 shares; 2025Q2: 1,203,900 shares; 2025Q3: 1,270,900 shares; 2025Q4: 1,540,900 shares; 2026Q1: 1,676,900 shares 1,676,900$69M3.44%+136,000Timeline
EPDENTERPRISE PRODS PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,045,599 shares; 2024Q4: 2,161,325 shares; 2025Q1: 1,925,848 shares; 2025Q2: 1,957,500 shares; 2025Q3: 1,992,500 shares; 2025Q4: 1,792,500 shares; 2026Q1: 1,745,500 shares 1,745,500$66M3.29%-47,000Timeline
PBAPEMBINA PIPELINE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,406,265 shares; 2024Q4: 1,675,327 shares; 2025Q1: 1,785,369 shares; 2025Q2: 1,687,100 shares; 2025Q3: 1,565,688 shares; 2025Q4: 1,347,100 shares; 2026Q1: 1,357,100 shares 1,357,100$60.7M3.02%+10,000Timeline
ENBENBRIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 306,665 shares; 2024Q4: 306,675 shares; 2025Q1: 301,500 shares; 2025Q2: 301,500 shares; 2025Q3: 501,500 shares; 2025Q4: 601,500 shares; 2026Q1: 1,001,500 shares 1,001,500$54.2M2.7%+400,000Timeline
MPCMARATHON PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 94,661 shares; 2024Q4: 71,662 shares; 2025Q1: 86,528 shares; 2025Q2: 85,500 shares; 2025Q3: 85,500 shares; 2025Q4: 82,500 shares; 2026Q1: 142,800 shares 142,800$34.9M1.74%+60,300Timeline
PSXPHILLIPS 66Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 170,026 shares; 2024Q4: 168,306 shares; 2025Q1: 183,186 shares; 2025Q2: 199,700 shares; 2025Q3: 209,700 shares; 2025Q4: 190,900 shares; 2026Q1: 180,100 shares 180,100$32.8M1.63%-10,800Timeline
SOBOSOUTH BOW CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 287,953 shares; 2025Q1: 203,371 shares; 2025Q2: 1,526,100 shares; 2025Q3: 1,530,500 shares; 2025Q4: 1,490,500 shares; 2026Q1: 865,500 shares 865,500$28.8M1.44%-625,000Timeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 44,700 shares; 2024Q4: 109,200 shares; 2025Q1: 88,700 shares; 2025Q2: 106,000 shares; 2025Q3: 105,900 shares; 2025Q4: 117,200 shares; 2026Q1: 89,300 shares 89,300$28.5M1.42%-27,900Timeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 179,000 shares; 2024Q4: 187,600 shares; 2025Q1: 240,000 shares; 2025Q2: 204,000 shares; 2025Q3: 230,700 shares; 2025Q4: 208,700 shares; 2026Q1: 183,600 shares 183,600$27.6M1.37%-25,100Timeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 529,045 shares; 2024Q4: 629,055 shares; 2025Q1: 665,742 shares; 2025Q2: 353,258 shares; 2025Q3: 353,258 shares; 2025Q4: 344,258 shares; 2026Q1: 403,258 shares 403,258$25.7M1.28%+59,000Timeline
NRGNRG ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 76,000 shares; 2024Q4: 79,000 shares; 2025Q1: 79,000 shares; 2025Q2: 73,000 shares; 2025Q3: 152,000 shares; 2025Q4: 162,000 shares; 2026Q1: 170,500 shares 170,500$24.9M1.24%+8,500Timeline
CEGCONSTELLATION ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 54,500 shares; 2024Q4: 94,500 shares; 2025Q1: 72,500 shares; 2025Q2: 110,000 shares; 2025Q3: 119,700 shares; 2025Q4: 116,700 shares; 2026Q1: 82,700 shares 82,700$23.1M1.15%-34,000Timeline
MTZMASTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 18,000 shares; 2025Q1: 18,000 shares; 2025Q2: 30,000 shares; 2025Q3: 47,000 shares; 2025Q4: 70,500 shares; 2026Q1: 70,900 shares 70,900$22.8M1.14%+400Timeline
SEISOLARIS ENERGY INFRAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 61,000 shares; 2026Q1: 388,000 shares 388,000$21.9M1.09%+327,000Timeline
PRIMPRIMORIS SVCS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 39,000 shares; 2024Q4: 49,000 shares; 2025Q1: 49,000 shares; 2025Q2: 69,000 shares; 2025Q3: 86,000 shares; 2025Q4: 127,000 shares; 2026Q1: 152,000 shares 152,000$21.7M1.08%+25,000Timeline
GEVGE VERNOVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,000 shares; 2025Q1: 24,000 shares; 2025Q2: 32,000 shares; 2025Q3: 46,750 shares; 2025Q4: 47,850 shares; 2026Q1: 24,000 shares 24,000$20.9M1.04%-23,850Timeline
PWRQUANTA SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 27,700 shares; 2024Q4: 30,700 shares; 2025Q1: 27,000 shares; 2025Q2: 30,000 shares; 2025Q3: 35,000 shares; 2025Q4: 39,000 shares; 2026Q1: 38,000 shares 38,000$20.9M1.04%-1,000Timeline
AGXARGAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 8,000 shares; 2025Q3: 31,000 shares; 2025Q4: 35,000 shares; 2026Q1: 38,000 shares 38,000$20.7M1.03%+3,000Timeline
BEBLOOM ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 400,000 shares; 2025Q3: 187,000 shares; 2025Q4: 115,000 shares; 2026Q1: 135,000 shares 135,000$18.3M0.91%+20,000Timeline
NXTNEXTPOWER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 22,000 shares; 2024Q4: not reported; 2025Q1: 60,000 shares; 2025Q2: 87,000 shares; 2025Q3: 107,000 shares; 2025Q4: 163,000 shares; 2026Q1: 143,000 shares 143,000$17.2M0.86%-20,000Timeline
APCARKO PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 712,451 shares 712,451$12.7M0.63%newTimeline
SUNCSUNOCOCORP LLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 200,000 shares 200,000$12.3M0.61%newTimeline
DYDYCOM INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 15,000 shares; 2026Q1: 36,000 shares 36,000$12.2M0.61%+21,000Timeline
CRWDCROWDSTRIKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 6,000 shares; 2024Q4: 14,000 shares; 2025Q1: 15,000 shares; 2025Q2: 7,000 shares; 2025Q3: 23,000 shares; 2025Q4: 25,000 shares; 2026Q1: 30,000 shares 30,000$11.7M0.58%+5,000Timeline
PANWPALO ALTO NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 26,000 shares; 2025Q1: 26,000 shares; 2025Q2: 30,000 shares; 2025Q3: 47,000 shares; 2025Q4: 47,000 shares; 2026Q1: 72,000 shares 72,000$11.5M0.57%+25,000Timeline
DOCNDIGITALOCEAN HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 116,000 shares; 2026Q1: 132,200 shares 132,200$11.3M0.56%+16,200Timeline
EEEXCELERATE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 325,000 shares 325,000$10.9M0.54%newTimeline
NETCLOUDFLARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 15,000 shares; 2025Q3: 30,000 shares; 2025Q4: 30,000 shares; 2026Q1: 50,000 shares 50,000$10.3M0.51%+20,000Timeline
VNOMVIPER ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 279,000 shares; 2025Q4: 279,000 shares; 2026Q1: 205,000 shares 205,000$9.63M0.48%-74,000Timeline
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 51,000 shares; 2024Q4: 36,000 shares; 2025Q1: 77,000 shares; 2025Q2: 77,000 shares; 2025Q3: not reported; 2025Q4: 50,000 shares; 2026Q1: 95,000 shares 95,000$8.82M0.44%+45,000Timeline
TXOTXO PARTNERS LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 265,000 shares; 2024Q4: 261,630 shares; 2025Q1: 130,000 shares; 2025Q2: 530,000 shares; 2025Q3: 581,000 shares; 2025Q4: 581,000 shares; 2026Q1: 581,000 shares 581,000$7.31M0.36%0Timeline
ETRENTERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 25,000 shares; 2025Q1: 25,000 shares; 2025Q2: 25,000 shares; 2025Q3: 63,000 shares; 2025Q4: 63,000 shares; 2026Q1: 63,000 shares 63,000$7.08M0.35%0Timeline
WTTRSELECT WATER SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 420,000 shares 420,000$6.43M0.32%newTimeline
DLRDIGITAL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 9,000 shares; 2024Q4: 14,000 shares; 2025Q1: 14,000 shares; 2025Q2: 17,000 shares; 2025Q3: 34,000 shares; 2025Q4: 34,000 shares; 2026Q1: 34,000 shares 34,000$6.13M0.31%0Timeline
MWHSOLV ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 200,000 shares 200,000$6.01M0.3%newTimeline
WBIWATERBRIDGE INFRASTRUCTURE LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 202,500 shares 202,500$5.42M0.27%newTimeline
IRENIREN LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 153,000 shares; 2026Q1: 157,000 shares 157,000$5.38M0.27%+4,000Timeline
ARLPALLIANCE RESOURCE PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 150,000 shares; 2024Q4: 180,000 shares; 2025Q1: 250,000 shares; 2025Q2: 241,000 shares; 2025Q3: 241,000 shares; 2025Q4: 191,000 shares; 2026Q1: 191,000 shares 191,000$5.28M0.26%0Timeline
STRLSTERLING INFRASTRUCTURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 11,550 shares 11,550$4.7M0.23%newTimeline
DUKDUKE ENERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 33,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 35,000 shares 35,000$4.58M0.23%newTimeline
AMANTERO MIDSTREAM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,026,000 shares; 2024Q4: 894,000 shares; 2025Q1: 774,000 shares; 2025Q2: 774,000 shares; 2025Q3: 906,000 shares; 2025Q4: 316,000 shares; 2026Q1: 201,000 shares 201,000$4.58M0.23%-115,000Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 13,000 shares; 2025Q4: 23,000 shares; 2026Q1: 29,000 shares 29,000$4.37M0.22%+6,000Timeline
SOSOUTHERN COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 45,000 shares; 2024Q4: 33,000 shares; 2025Q1: 33,000 shares; 2025Q2: 33,000 shares; 2025Q3: 45,000 shares; 2025Q4: 45,000 shares; 2026Q1: 45,000 shares 45,000$4.34M0.22%0Timeline
WECWEC ENERGY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 26,000 shares; 2025Q4: 35,000 shares; 2026Q1: 35,000 shares 35,000$4.05M0.2%0Timeline
AEPAMERICAN ELEC PWR CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 26,000 shares; 2024Q4: 17,000 shares; 2025Q1: 17,000 shares; 2025Q2: 17,000 shares; 2025Q3: 25,000 shares; 2025Q4: 25,000 shares; 2026Q1: 25,000 shares 25,000$3.28M0.16%0Timeline
GELGENESIS ENERGY L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,139,937 shares; 2024Q4: 390,013 shares; 2025Q1: 427,837 shares; 2025Q2: 685,700 shares; 2025Q3: 685,700 shares; 2025Q4: 185,700 shares; 2026Q1: 151,000 shares 151,000$2.69M0.13%-34,700Timeline
CIFRCIPHER DIGITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 170,000 shares 170,000$2.19M0.11%newTimeline
NGLNGL ENERGY PARTNERS LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 200,000 shares; 2024Q4: 200,000 shares; 2025Q1: 200,000 shares; 2025Q2: 275,000 shares; 2025Q3: 275,000 shares; 2025Q4: 150,000 shares; 2026Q1: 150,000 shares 150,000$1.85M0.09%0Timeline
PAAPLAINS ALL AMERN PIPELINE LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 449,827 shares; 2024Q4: 218,774 shares; 2025Q1: 184,105 shares; 2025Q2: 145,300 shares; 2025Q3: 145,300 shares; 2025Q4: 155,300 shares; 2026Q1: 55,300 shares 55,300$1.23M0.06%-100,000Timeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 264,000 shares; 2024Q4: 344,000 shares; 2025Q1: 344,000 shares; 2025Q2: 344,000 shares; 2025Q3: 344,000 shares; 2025Q4: 460,000 shares; 2026Q1: 30,000 shares 30,000$796K0.04%-430,000Timeline
GLNGGOLAR LNG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 7,000 shares 7,000$379K0.02%newTimeline
CLSKCLEANSPARK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 300,000 shares; 2025Q1: 500,500 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,000 shares; 2026Q1: 32,000 shares 32,000$272K0.01%+12,000Timeline
NFENEW FORTRESS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 150,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 150,000 shares; 2025Q4: 100,000 shares; 2026Q1: 100,000 shares 100,000$59K<0.01%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
XLESELECT SECTOR SPDR TR SHSput100,000$6.13Mnew
AMLPALPS ETF TR ALERIAN MLPput100,000$5.26Mnew

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
HESMHESS MIDSTREAM LP1,357,200$46.8Mshares
FSLRFIRST SOLAR INC68,000$17.8Mshares
MSFTMICROSOFT CORP10,000$4.84Mshares
ORCLORACLE CORP23,000$4.48Mshares
PEGPUBLIC SVC ENTERPRISE GROUP49,000$3.93Mshares
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAEL7,000$3.12Mshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001315863-26-000367 base2026-04-28acceptance time not in the bulk data set