Key Points
Cushing Asset added 855,000 shares of Kinetik Holdings.
Quarter-end position value increased by $24.2 million.
It owned over 1.8 million shares valued at $66.5 million as of quarter-end.
On Jan. 27, Cushing Asset Management, LP dba NXG Investment Management disclosed a buy of 855,000 shares of Kinetik Holdings(NYSE:KNTK).
- Added 855,000 shares of Kinetik Holdings
- Quarter-end position value increased by $24.2 million, reflecting both share purchases and price movement
- Post-trade stake: 1.8 million shares valued at $66.5 million as of quarter-end
- The position now accounts for 3.8% of the fund’s AUM.
What happened
According to a SEC filing dated Jan. 27, Cushing Asset Management, LP dba NXG Investment Management increased its stake in Kinetik Holdings by 855,000 shares.
What else to know
- This buy raises the Kinetik Holdings stake to 3.8% of the fund’s 13F reportable assets under management
- Top holdings after the filing:
- NYSE:ET: $131.8 million (7.6% of AUM)
- NYSE:TRGP: $125.7 million (7.2% of AUM)
- NYSE:MPLX: $100.5 million (5.8% of AUM)
- NYSE:WMB: $95.9 million (5.5% of AUM)
- NYSE:OKE: $95.4 million (5.5% of AUM)
Company overview
| Metric | Value |
|---|---|
| Price (as of market close January 26, 2026) | $39.90 |
| Market capitalization | $6.4 billion |
| Revenue (TTM) | $1.72 billion |
| Dividend yield | 7.9% |
Company snapshot
Kinetik Holdings(NYSE:KNTK) operates as a midstream company with an l presence in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for oil and gas producers in the region. The company’s fee-based midstream business model focuses on generating revenue primarily from long-term contracts with producers.
- Provides gathering, transportation, compression, processing, and treating services for natural gas, natural gas liquids, crude oil, and water in the Texas Delaware Basin.
- Serves upstream oil and gas producers operating in the Delaware Basin.
- Operates a fee-based midstream business model focused on long-term contracts with producers.
What this transaction means for investors
Cushing Asset Management, which focuses on midstream energy companies, significantly added to its Kinetik equity position. It practically doubled its 988,400 shares to over 1.8 million shares during the final three months of 2025.
The asset management firm disclosed 60 equity positions in its latest SEC filing, and Kinetik landed in the top 10. It represents 3.8% of the firm’s $1.7 billion of assets under management (AUM).
Cushing must have confidence that Kinetik’s share performance will improve. The stock lost 35.5% after including dividends over the last year through Jan. 26. Meanwhile, the S&P 500 returned 15.4% over this period.
While that return has been disappointing, Kinetik recently raised its quarterly dividend by 4% to $0.81, which is typically a positive sign. At the new rate, the stock has an 8.1% dividend yield. That’s much higher than the S&P 500’s 1.1% yield.
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Lawrence Rothman, CFA has no position in any of the stocks mentioned. The Motley Fool recommends Oneok. The Motley Fool has a disclosure policy.
