Cushing Asset Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ALLISON TRANSMISSION HLDGS I	COM	01973R101	3,118	115,552	SH		DFND	1	115,552	0	0
AMERIGAS PARTNERS L P	UNIT L P INT	030975106	1,150	26,450	SH		SOLE		26,450	0	0
ANADARKO PETE CORP	COM	032511107	1,923	41,300	SH		DFND	1	41,300	0	0
ANTERO MIDSTREAM PARTNERS LP	UNT LTD PARTN	03673L103	14,089	637,188	SH		DFND	1	637,188	0	0
AXALTA COATING SYS LTD	COM	G0750C108	8,072	276,467	SH		DFND	1	276,467	0	0
AXALTA COATING SYS LTD	COM	G0750C108	77	14,000	SH	Call	SOLE		14,000	0	0
BAKER HUGHES INC	COM	057224107	5,308	121,116	SH		DFND	1	121,116	0	0
BLUEKNIGHT ENERGY PARTNERS L	COM UNIT	09625U109	21,757	4,542,128	SH		DFND	1	4,542,128	0	0
BOARDWALK PIPELINE PARTNERS	UT LTD PARTNER	096627104	11,184	758,771	SH		SOLE		758,771	0	0
BUCKEYE PARTNERS L P	UNIT LTD PARTN	118230101	27,870	410,224	SH		DFND	1	410,224	0	0
CALPINE CORP	COM NEW	131347304	1,745	115,000	SH		SOLE		115,000	0	0
CALUMET SPECIALTY PRODS PTNR	UT LTD PARTNER	131476103	41	63,200	SH	Put	SOLE		63,200	0	0
CAPITAL PRODUCT PARTNERS L P	COM UNIT LP	Y11082107	14,767	4,673,228	SH		DFND	1	4,673,228	0	0
CENTERPOINT ENERGY INC	COM	15189T107	3,347	160,000	SH		SOLE		160,000	0	0
CHENIERE ENERGY INC	COM NEW	16411R208	12,157	359,345	SH		DFND	1	359,345	0	0
CHENIERE ENERGY PARTNERS LP	COM UNIT	16411Q101	4,326	150,000	SH		SOLE		150,000	0	0
CHEVRON CORP NEW	COM	166764100	6,812	71,400	SH		DFND	1	71,400	0	0
CIMAREX ENERGY CO	COM	171798101	7,529	77,408	SH		DFND	1	77,408	0	0
COLUMBIA PIPELINE GROUP INC	COM	198280109	2,018	80,405	SH		SOLE		80,405	0	0
COLUMBIA PIPELINE PARTNERS L	COM UT REPSTG	198281107	6,904	472,892	SH		SOLE		472,892	0	0
CONOCOPHILLIPS	COM	20825C104	3,980	98,842	SH		DFND	1	98,842	0	0
CORE LABORATORIES N V	COM	N22717107	15	12,400	SH	Put	SOLE		12,400	0	0
COVENANT TRANSN GROUP INC	CL A	22284P105	732	30,267	SH		SOLE		30,267	0	0
CRESTWOOD EQUITY PARTNERS LP	UNIT LTD PARTNER	226344208	1,833	157,100	SH		SOLE		157,100	0	0
CSX CORP	COM	126408103	858	33,330	SH		SOLE		33,330	0	0
DCP MIDSTREAM PARTNERS LP	COM UT LTD PTN	23311P100	34,871	1,280,600	SH		DFND	1	1,280,600	0	0
DELEK LOGISTICS PARTNERS LP	COM UNT RP INT	24664T103	3,517	112,000	SH		SOLE		112,000	0	0
DEVON ENERGY CORP NEW	COM	25179M103	2,542	92,643	SH		DFND	1	92,643	0	0
DIAMOND OFFSHORE DRILLING IN	COM	25271C102	19	46,500	SH	Put	SOLE		46,500	0	0
DIAMONDBACK ENERGY INC	COM	25278X109	1,389	18,000	SH		DFND	1	18,000	0	0
DOMINION MIDSTREAM PARTNERS	COM UT REP LTD	257454108	27,595	817,633	SH		DFND	1	817,633	0	0
DOMINION RES INC VA NEW	COM	25746U109	5,483	72,993	SH		DFND	1	72,993	0	0
DORCHESTER MINERALS LP	COM UNIT	25820R105	2,880	252,821	SH		DFND	1	252,821	0	0
ENBRIDGE ENERGY MANAGEMENT L	SHS UNITS LLI	29250X103	3,098	172,599	SH		SOLE		172,599	0	0
ENBRIDGE ENERGY PARTNERS L P	COM	29250R106	63,307	3,455,623	SH		DFND	1	3,455,623	0	0
ENERGEN CORP	COM	29265N108	5,578	152,431	SH		DFND	1	152,431	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	53,730	7,535,841	SH		DFND	1	7,535,841	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	253	585,900	SH	Call	SOLE		585,900	0	0
ENERGY TRANSFER PRTNRS L P	UNIT LTD PARTN	29273R109	154,742	4,784,870	SH		DFND	1	4,784,870	0	0
ENLINK MIDSTREAM PARTNERS LP	COM UNIT REP LTD	29336U107	40,835	3,383,200	SH		DFND	1	3,383,200	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	114,394	4,646,393	SH		DFND	1	4,646,393	0	0
EOG RES INC	COM	26875P101	4,802	66,159	SH		DFND	1	66,159	0	0
EQT GP HLDGS LP	COM UNIT REP	26885J103	26,518	983,247	SH		DFND	1	983,247	0	0
EQT MIDSTREAM PARTNERS LP	UNIT LTD PARTN	26885B100	89,906	1,207,929	SH		DFND	1	1,207,929	0	0
EXELON CORP	COM	30161N101	1,793	50,000	SH		SOLE		50,000	0	0
EXXON MOBIL CORP	COM	30231G102	5,475	65,500	SH		DFND	1	65,500	0	0
FLOWSERVE CORP	COM	34354P105	7,861	177,028	SH		DFND	1	177,028	0	0
FMC TECHNOLOGIES INC	COM	30249U101	424	15,495	SH		SOLE		15,495	0	0
FRANKS INTL N V	COM	N33462107	340	20,660	SH		SOLE		20,660	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	1	108,500	SH	Put	SOLE		108,500	0	0
GASLOG LTD	SHS	G37585109	1,377	141,353	SH		DFND	1	141,353	0	0
GASLOG PARTNERS LP	UNIT LTD PTNRP	Y2687W108	7,834	471,071	SH		DFND	1	471,071	0	0
GENESIS ENERGY L P	UNIT LTD PARTN	371927104	94,678	2,978,239	SH		DFND	1	2,978,239	0	0
GOLAR LNG LTD BERMUDA	SHS	G9456A100	15,352	854,302	SH		DFND	1	854,302	0	0
GOLAR LNG PARTNERS LP	COM UNIT LPI	Y2745C102	9,209	626,867	SH		DFND	1	626,867	0	0
GRACE W R & CO DEL NEW	COM	38388F108	2,135	30,000	SH		SOLE		30,000	0	0
H & E EQUIPMENT SERVICES INC	COM	404030108	326	18,616	SH		SOLE		18,616	0	0
HALLIBURTON CO	COM	406216101	830	23,242	SH		SOLE		23,242	0	0
HESS CORP	COM	42809H107	10,363	196,829	SH		DFND	1	196,829	0	0
HOEGH LNG PARTNERS LP	COM UNIT LTD	Y3262R100	895	51,339	SH		DFND	1	51,339	0	0
JOY GLOBAL INC	COM	481165108	137	55,800	SH	Put	SOLE		55,800	0	0
JPMORGAN CHASE & CO	ALERIAN ML ETN	46625H365	469	687,500	SH	Put	SOLE		687,500	0	0
KINDER MORGAN INC DEL	COM	49456B101	14,011	784,478	SH		DFND	1	784,478	0	0
KIRBY CORP	COM	497266106	2,995	49,676	SH		DFND	1	49,676	0	0
KNIGHT TRANSN INC	COM	499064103	3,557	136,022	SH		DFND	1	136,022	0	0
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	14,051	164,177	SH		DFND	1	164,177	0	0
MACQUARIE INFRASTRUCTURE COR	COM	55608B105	488	7,233	SH		SOLE		7,233	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	62,528	908,831	SH		DFND	1	908,831	0	0
MANITOWOC FOODSERVICE INC	COM	563568104	522	35,439	SH		SOLE		35,439	0	0
MARATHON PETE CORP	COM	56585A102	12,788	343,940	SH		DFND	1	343,940	0	0
MPLX LP	COM UNIT REP LTD	55336V100	82,882	2,791,571	SH		DFND	1	2,791,571	0	0
MRC GLOBAL INC	COM	55345K103	2,304	175,362	SH		DFND	1	175,362	0	0
NATIONAL OILWELL VARCO INC	COM	637071101	51	96,100	SH	Put	SOLE		96,100	0	0
NEWFIELD EXPL CO	COM	651290108	10,108	304,011	SH		DFND	1	304,011	0	0
NGL ENERGY PARTNERS LP	COM UNIT REPST	62913M107	19,767	2,628,652	SH		DFND	1	2,628,652	0	0
NOBLE ENERGY INC	COM	655044105	1,476	47,000	SH		DFND	1	47,000	0	0
NORDIC AMERICAN TANKERS LIMI	COM	G65773106	5	53,700	SH	Put	SOLE		53,700	0	0
NORFOLK SOUTHERN CORP	COM	655844108	9,146	109,866	SH		DFND	1	109,866	0	0
NUSTAR ENERGY LP	UNIT COM	67058H102	70,333	1,740,910	SH		DFND	1	1,740,910	0	0
NUSTAR GP HOLDINGS LLC	UNIT RESTG LLC	67059L102	1,478	71,300	SH		SOLE		71,300	0	0
OASIS PETE INC NEW	COM	674215108	130	93,000	SH	Call	SOLE		93,000	0	0
OCCIDENTAL PETE CORP DEL	COM	674599105	8,355	122,100	SH		DFND	1	122,100	0	0
OIL STS INTL INC	COM	678026105	225	7,127	SH		SOLE		7,127	0	0
ONEOK INC NEW	COM	682680103	31,717	1,062,205	SH		DFND	1	1,062,205	0	0
ONEOK PARTNERS LP	UNIT LTD PARTN	68268N103	57,616	1,834,905	SH		DFND	1	1,834,905	0	0
OSHKOSH CORP	COM	688239201	817	20,000	SH		SOLE		20,000	0	0
PATTERSON UTI ENERGY INC	COM	703481101	455	25,823	SH		SOLE		25,823	0	0
PBF ENERGY INC	CL A	69318G106	11,947	359,861	SH		DFND	1	359,861	0	0
PENTAIR PLC	SHS	G7S00T104	1,085	20,000	SH		SOLE		20,000	0	0
PHILLIPS 66	COM	718546104	21,017	242,713	SH		DFND	1	242,713	0	0
PHILLIPS 66 PARTNERS LP	COM UNIT REP INT	718549207	34,815	556,236	SH		DFND	1	556,236	0	0
PIONEER NAT RES CO	COM	723787107	5,179	36,796	SH		DFND	1	36,796	0	0
PLAINS ALL AMERN PIPELINE L	UNIT LTD PARTN	726503105	52,023	2,480,804	SH		DFND	1	2,480,804	0	0
PLAINS GP HLDGS L P	SHS A REP LTPN	72651A108	13,567	1,561,250	SH		DFND	1	1,561,250	0	0
PPG INDS INC	COM	693506107	5,530	49,605	SH		DFND	1	49,605	0	0
RICE ENERGY INC	COM	762760106	505	36,154	SH		SOLE		36,154	0	0
RICE MIDSTREAM PARTNERS LP	UNIT LTD PARTN	762819100	821	55,144	SH		SOLE		55,144	0	0
ROSE ROCK MIDSTREAM L P	COM U REP LTD	777149105	6,226	524,557	SH		DFND	1	524,557	0	0
ROYAL DUTCH SHELL PLC	SPON ADR B	780259107	4,927	101,700	SH		SOLE		101,700	0	0
RPC INC	COM	749660106	672	47,413	SH		SOLE		47,413	0	0
RYDER SYS INC	COM	783549108	5,863	90,508	SH		DFND	1	90,508	0	0
SCORPIO TANKERS INC	SHS	Y7542C106	4,344	745,097	SH		DFND	1	745,097	0	0
SEADRILL LIMITED	SHS	G7945E105	155	68,200	SH	Put	SOLE		68,200	0	0
SEALED AIR CORP NEW	COM	81211K100	15,824	329,587	SH		DFND	1	329,587	0	0
SEASPAN CORP	SHS	Y75638109	11	55,800	SH	Put	SOLE		55,800	0	0
SEMGROUP CORP	CL A	81663A105	23,038	1,028,500	SH		DFND	1	1,028,500	0	0
SEMPRA ENERGY	COM	816851109	5,943	57,117	SH		DFND	1	57,117	0	0
SHELL MIDSTREAM PARTNERS L P	UNIT LTD INT	822634101	108,396	2,960,833	SH		DFND	1	2,960,833	0	0
SHERWIN WILLIAMS CO	COM	824348106	3,695	12,981	SH		DFND	1	12,981	0	0
SPECTRA ENERGY CORP	COM	847560109	1,939	63,350	SH		SOLE		63,350	0	0
SPECTRA ENERGY PARTNERS LP	COM	84756N109	25,575	531,489	SH		DFND	1	531,489	0	0
STATOIL ASA	SPONSORED ADR	85771P102	5,757	370,000	SH		DFND	1	370,000	0	0
SUMMIT MATLS INC	CL A	86614U100	6,072	312,175	SH		DFND	1	312,175	0	0
SUNOCO LOGISTICS PRTNRS L P	COM UNITS	86764L108	111,223	4,436,496	SH		DFND	1	4,436,496	0	0
SUNOCO LOGISTICS PRTNRS L P	COM UNITS	86764L108	74	46,500	SH	Call	SOLE		46,500	0	0
SUPERIOR ENERGY SVCS INC	COM	868157108	902	67,351	SH		SOLE		67,351	0	0
SWIFT TRANSN CO	CL A	87074U101	477	25,618	SH		SOLE		25,618	0	0
TARGA RES CORP	COM	87612G101	88,419	2,961,114	SH		DFND	1	2,961,114	0	0
TC PIPELINES LP	UT COM LTD PRT	87233Q108	6,660	138,116	SH		SOLE		138,116	0	0
TEREX CORP NEW	COM	880779103	1,028	41,321	SH		SOLE		41,321	0	0
TESORO LOGISTICS LP	COM UNIT LP	88160T107	77,963	1,707,487	SH		DFND	1	1,707,487	0	0
THERMON GROUP HLDGS INC	COM	88362T103	281	16,025	SH		SOLE		16,025	0	0
TOTAL S A	SPONSORED ADR	89151E109	6,586	145,000	SH		DFND	1	145,000	0	0
TRANSMONTAIGNE PARTNERS L P	COM UNIT L P	89376V100	2,426	66,200	SH		SOLE		66,200	0	0
U S SILICA HLDGS INC	COM	90346E103	1,174	51,653	SH		SOLE		51,653	0	0
UNION PAC CORP	COM	907818108	102	31,000	SH	Put	SOLE		31,000	0	0
VALERO ENERGY PARTNERS LP	COM UNT REP LP	91914J102	23,109	487,942	SH		DFND	1	487,942	0	0
VTTI ENERGY PARTNERS LP	COM UNIT RP LT	Y9384M101	25,649	1,386,417	SH		DFND	1	1,386,417	0	0
WABTEC CORP	COM	929740108	8,987	113,339	SH		DFND	1	113,339	0	0
WEATHERFORD INTL PLC	ORD SHS	G48833100	6,242	802,318	SH		DFND	1	802,318	0	0
WESTERN GAS PARTNERS LP	COM UNIT LP IN	958254104	55,850	1,286,560	SH		DFND	1	1,286,560	0	0
WESTLAKE CHEM CORP	COM	960413102	10,460	225,929	SH		DFND	1	225,929	0	0
WHITING PETE CORP NEW	COM	966387102	453	56,805	SH		SOLE		56,805	0	0
WILLIAMS PARTNERS L P NEW	COM UNIT LTD PAR	96949L105	51,337	2,510,350	SH		DFND	1	2,510,350	0	0
XPO LOGISTICS INC	COM	983793100	8,782	286,051	SH		DFND	1	286,051	0	0