CUSHING MLP ASSET MANAGEMENT, LP Profile
Cushing MLP Asset Management, LP is an investment management firm based out of Dallas, Texas. The company can trace its history back to the established of Master Limited Partnership (MLP) in 1981 and the establishment of the company in the early 2000s by Jerry V. Swank, who is still with the company today acting as one of its limited partners. The firm would originally be known as Swank Energy Income Advisors LP and has grown from its inception to now have 39 employees of which 19 are investment professionals. Cushing MLP Asset Management operates as a wholly owned subsidiary of Swank Capital, and the company itself is largely held by the founder Jerry V. Swank. The company utilizes a fundamental methodology with a bottom up approach to make its investment decisions. Cushing MLP Asset Management, as its name suggests, invests mainly in master limited partnerships. The company invests most heavily in the energy sector, which alone makes up over three quarters of its total asset allocations, and also invests in the utilities and telecommunications, transports, industrials, and materials sectors, among others to a lesser degree, in order of decreasing allocation. Cushing MLP Asset Management’s top 10 holdings make up over a third of its total asset allocations, and the company has a turnover rate of approximately 33%. The company holds over $4.6 billion in total assets under management spread across 104 accounts, all of which are discretionary. Both of Cushing MLP Asset Management’s total number of accounts and total assets under management have been increasing in recent years with its total managed assets growing significantly from under $800 million to well over 5 times that amount today. The company mainly caters to high net worth individuals, which alone makes up over half of its client base. Cushing MLP Asset Management offers its Mainstay Cushing MLP Premier, Royalty Energy Income, and Renaissance Advantage mutual funds.