# EDGAR Filing Document

**Accession Number:** 0001329375
**File Stem:** 0001438934-25-001046
**Filing Date:** 2025-8
**Character Count:** 15423
**Document Hash:** 1cde4509ea1e73fec2d843ead0432135
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001438934-25-001046.hdr.sgml**: 20250819

**ACCESSION NUMBER**: 0001438934-25-001046

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250819

**EFFECTIVENESS DATE**: 20250819

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT
- **CENTRAL INDEX KEY:** 0001329375

**ORGANIZATION NAME:**
- **EIN:** 202700256
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12384
- **FILM NUMBER:** 251230696

**BUSINESS ADDRESS:**
- **STREET 1:** ONE ENERGY SQUARE
- **STREET 2:** 4925 GREENVILLE AVENUE, SUITE 1310
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75206
- **BUSINESS PHONE:** 214.635.1662

**MAIL ADDRESS:**
- **STREET 1:** ONE ENERGY SQUARE
- **STREET 2:** 4925 GREENVILLE AVENUE, SUITE 1310
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CUSHING ASSET MANAGEMENT, LP
- **DATE OF NAME CHANGE:** 20140402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CUSHING MLP ASSET MANAGEMENT, LP
- **DATE OF NAME CHANGE:** 20110210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Swank Energy Income Advisors, L.P.
- **DATE OF NAME CHANGE:** 20101105

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001329375

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT

**Address:** 4925 Greenville Avenue, Dallas, TX 75206

**Telephone number:** 214-692-6334

**Name of agent for service:** John Musgrave

**Agent Address:** 4925 Greenville Avenue, Dallas, TX 75206

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-12384

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [ ] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [x] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                        | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                            | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| CENOVUS ENERGY INC.                   | 15135U109 | 05/08/2025     | Shareholder Advisory Vote on Executive Compensation Accept the Corporation's approach to executive compensation.                                                                            | SECTION 14A SAY-ON-PAY VOTES |          26280 |                0 | FOR         |                                    26280 | FOR                         |  |
| CHENIERE ENERGY, INC.                 | 16411R208 | 05/15/2025     | Approve, on an advisory and non-binding basis, the compensation of the Company's named executive officers for 2024.                                                                         | SECTION 14A SAY-ON-PAY VOTES |           6968 |                0 | FOR         |                                     6968 | FOR                         |  |
| CONSTELLATION ENERGY CORP             | 21037T109 | 04/29/2025     | To consider and act on an advisory vote regarding the approval of compensation paid to named executive officers                                                                             | SECTION 14A SAY-ON-PAY VOTES |           1539 |                0 | FOR         |                                     1539 | FOR                         |  |
| DT MIDSTREAM, INC.                    | 23345M107 | 05/06/2025     | To approve, on an advisory (non-binding) basis, the compensation of the Company's Named Executive Officers.                                                                                 | SECTION 14A SAY-ON-PAY VOTES |          10325 |                0 | FOR         |                                    10325 | FOR                         |  |
| ENBRIDGE INC.                         | 29250N105 | 05/07/2025     | Accept Enbridge's approach to executive compensation, as disclosed in the Management Information Circular.                                                                                  | SECTION 14A SAY-ON-PAY VOTES |           4657 |                0 | FOR         |                                     4657 | FOR                         |  |
| ENLINK MIDSTREAM, LLC                 | 29336T100 | 01/30/2025     | To approve, on a non-binding advisory basis, the compensation that may be paid or become payable to EnLink's named executive officers that is based on or otherwise relates to the Mergers. | SECTION 14A SAY-ON-PAY VOTES |          90234 |                0 | FOR         |                                    90234 | FOR                         |  |
| EQT CORPORATION                       | 26884L109 | 04/16/2025     | Approval of a non-binding resolution to approve the 2024 compensation of EQT Corporation's named executive officers (say-on-pay).                                                           | SECTION 14A SAY-ON-PAY VOTES |           8291 |                0 | FOR         |                                     8291 | FOR                         |  |
| EQUITRANS MIDSTREAM CORPORATION       | 294600101 | 07/18/2024     | Approval, on an advisory (non-binding) basis, of the compensation that may be paid or become payable to the Company's named executive officers in connection with the Merger.               | SECTION 14A SAY-ON-PAY VOTES |          54986 |                0 | FOR         |                                    54986 | FOR                         |  |
| GE VERNOVA INC.                       | 36828A101 | 05/14/2025     | Approve the compensation of our named executives officers in an advisory vote                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |           2000 |                0 | FOR         |                                     2000 | FOR                         |  |
| GE VERNOVA INC.                       | 36828A101 | 05/14/2025     | Approve the frequency of future advisory votes on named executive officers compensation in an advisory vote                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           2000 |                0 | 1 YEAR      |                                     2000 | FOR                         |  |
| KINDER MORGAN, INC.                   | 49456B101 | 05/15/2025     | Approval, on an advisory basis, of the compensation of our named executive officers, as disclosed in the Proxy Statement                                                                    | SECTION 14A SAY-ON-PAY VOTES |          39119 |                0 | FOR         |                                    39119 | FOR                         |  |
| KINETIK HOLDINGS INC                  | 02215L209 | 05/19/2025     | Approval of a non-binding resolution regarding the compensation of named executive officers for 2024 (say-on-pay).                                                                          | SECTION 14A SAY-ON-PAY VOTES |          10000 |                0 | FOR         |                                    10000 | FOR                         |  |
| MARATHON PETROLEUM CORPORATION        | 56585A102 | 04/30/2025     | Approval, on an advisory basis, of the company's named executive officer compensation.                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |           1197 |                0 | FOR         |                                     1197 | FOR                         |  |
| ONEOK, INC.                           | 682680103 | 05/21/2025     | An advisory vote to approve ONEOK, Inc.'s executive compensation.                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |          37687 |                0 | FOR         |                                    37687 | FOR                         |  |
| PEMBINA PIPELINE CORPORATION          | 706327103 | 05/09/2025     | To accept the Corporation's approach to executive compensation as disclosed in the Management Information Circular.                                                                         | SECTION 14A SAY-ON-PAY VOTES |          19784 |                0 | FOR         |                                    19784 | FOR                         |  |
| PHILLIPS 66                           | 718546104 | 05/21/2025     | ADVISORY APPROVAL OF EXECUTIVE COMPENSATION                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           6901 |                0 | FOR         |                                     6901 | FOR                         |  |
| PHILLIPS 66                           | 718546104 | 05/21/2025     | ADVISORY APPROVAL OF FREQUENCY OF FUTURE ADVISORY APPROVALS OF EXECUTIVE COMPENSATION                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |           6901 |                0 | 1 YEAR      |                                     6901 | FOR                         |  |
| PLAINS ALL AMERICAN PIPELINE, L.P.    | 726503105 | 05/21/2025     | The approval, on a non-binding advisory basis, of our 2024 named executive officer compensation.                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         121115 |                0 | FOR         |                                   121115 | FOR                         |  |
| SEMPRA                                | 816851109 | 05/13/2025     | Advisory approval of our executive compensation                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |          12000 |                0 | FOR         |                                    12000 | FOR                         |  |
| SOUTH BOW CORPORATION (THE "COMPANY") | 83671M105 | 05/15/2025     | Accept the Company's approach to executive compensation, as set forth in the Circular.                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |           2648 |                0 | FOR         |                                     2648 | FOR                         |  |
| TALEN ENERGY CORPORATION              | 87422Q109 | 05/07/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |           2700 |                0 | FOR         |                                     2700 | FOR                         |  |
| TALEN ENERGY CORPORATION              | 87422Q109 | 05/07/2025     | To approve, on an advisory basis, the frequency of advisory vote on executive compensation.                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           2700 |                0 | 1 YEAR      |                                     2700 | FOR                         |  |
| TARGA RESOURCES CORP.                 | 87612G101 | 05/20/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers for the fiscal year ended December 31, 2024.                                                   | SECTION 14A SAY-ON-PAY VOTES |          21418 |                0 | FOR         |                                    21418 | FOR                         |  |
| TC ENERGY CORPORATION                 | 87807B107 | 05/08/2025     | Resolution to accept TC Energy's approach to executive compensation, as described in the Management information circular.                                                                   | SECTION 14A SAY-ON-PAY VOTES |          45536 |                0 | FOR         |                                    45536 | FOR                         |  |
| THE WILLIAMS COMPANIES, INC.          | 969457100 | 04/29/2025     | Approve, on an Advisory Basis, the Compensation of our Named Executive Officers.                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |          19274 |                0 | FOR         |                                    19274 | FOR                         |  |
| VIPER ENERGY, INC.                    | 927959106 | 05/20/2025     | The approval, on an advisory basis, of the compensation of the Company's named executive officers.                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          30000 |                0 | FOR         |                                    30000 | FOR                         |  |
| VISTRA CORP.                          | 92840M102 | 04/30/2025     | To approve, on a non-binding advisory basis, the 2024 compensation of the Company's named executive officers.                                                                               | SECTION 14A SAY-ON-PAY VOTES |           9275 |                0 | FOR         |                                     9275 | FOR                         |  |
| VITAL ENERGY, INC.                    | 516806205 | 05/22/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |          15000 |                0 | FOR         |                                    15000 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT

**By (Signature):** John Musgrave

**By (Printed Signature):** John Musgrave

**By (Title):** President and CEO

**Date:** 08/18/2025