Swank Capital and Cushing® Asset Management Announce a Rebalance of The Cushing® MLP Market Cap Index

Swank Capital and Cushing® Asset Management Announce a Rebalance of The Cushing® MLP Market Cap Index

Dallas, Texas (August 2, 2018) Swank Capital, LLC and Cushing® Asset Management, LP announce an upcoming interim rebalance of The Cushing® MLP Market Cap Index (the “Index”). On May 16, 2018, Index constituents The Williams Companies, Inc. (NYSE: WMB) and Willams Partners L.P. (NYSE: WPZ) entered into an Agreement and Plan of Merger wherein WMB would acquire WPZ, subject to the consent of WPZ unitholders and the approval of the issuance of additional WMB stock by WMB shareholders. An affiliated company of WMB and WPZ holding a majority of limited partner interests in WPZ provided its consent for the transaction on May 16. A special meeting of WMB shareholders is scheduled for August 9, 2018, for the purpose of voting on the issuance of additional WMB stock to effect the merger. Per the Index’s methodology guide, after the market closes on August 9, 2018, and effective on August 10, 2018, WPZ will be removed as a constituent of the Index.

Because WPZ is expected to have a weight in the Index in excess of 3.5% at the time of its removal, per the Index’s methodology guide, the Index will be rebalanced and all constituent weightings will be adjusted effective on August 10, 2018, as shown below.

Cushing® MLP Market Cap Index constituents, effective August 10, 2018:

Company Name Ticker Index Weight Status
Enterprise Products Partners, L.P. EPD 7.50% Existing
Energy Transfer Partners, L.P. ETP 7.50% Existing
Magellan Midstream Partners, L.P. MMP 7.50% Existing
The Williams Companies, Inc. WMB 7.50% Existing
Kinder Morgan, Inc. KMI 7.50% NEW
ONEOK, Inc. OKE 7.50% NEW
Cheniere Energy, Inc. LNG 7.33% NEW
Energy Transfer Equity, L.P. ETE 6.62% Existing
Targa Resources Corp. TRGP 5.69% NEW
MPLX LP MPLX 5.45% Existing
Western Gas Partners, L.P. WES 2.67% Existing
Buckeye Partners, L.P. BPL 2.64% Existing
EQT Midstream Partners, LP EQM 2.37% Existing
Andeavor Logistics LP ANDX 2.11% Existing
DCP Midstream, LP DCP 2.10% Existing
EnLink Midstream Partners, LP ENLK 2.05% Existing
Tallgrass Energy, LP TGE 1.83% NEW
AmeriGas Partners, L.P. APU 1.55% Existing
Phillips 66 Partners LP PSXP 1.51% Existing
Antero Midstream Partners LP AM 1.50% Existing
Shell Midstream Partners, L.P. SHLX 1.46% Existing
Enbridge Energy Partners, L.P. EEP 1.26% Existing
SemGroup Corporation SEMG 1.03% NEW
Alliance Resource Partners, L.P. ARLP 0.95% Existing
Western Gas Equity Partners, LP WGP 0.92% Existing
Crestwood Equity Partners LP CEQP 0.90% Existing
Enable Midstream Partners, LP ENBL 0.83% Existing
Antero Midstream GP LP AMGP 0.78% Existing
Holly Energy Partners, L.P. HEP 0.73% Existing
NGL Energy Partners LP NGL 0.72% Existing

Constituents removed, effective August 10, 2018:

Company Name Ticker
BP Midstream Partners LP BPMP
Black Stone Minerals, L.P. BSM
EnLink Midstream, LLC ENLC
Noble Midstream Partners LP NBLX
Sunoco LP SUN
Williams Partners L.P. WPZ


The Cushing® MLP Market Cap Index tracks the performance of widely held master limited partnerships (MLPs). The Index is weighted on a float-adjusted market capitalization basis, with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded MLPs.  The Cushing® MLP Market Cap Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker “CMCI”.


Cushing® Asset Management, LP (“Cushing”), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies.

Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY) ), The Cushing® Energy Index (Bloomberg Ticker: CENI), The Cushing® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit https://www.cushingasset.com/indices.


Judson Redmond



Source: Cushing® Asset Management, LP and Swank Capital, LLC

The Cushing® MLP Market Cap Index (the “Index”) is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) (“S&P Dow Jones Indices”) to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and, these trademarks have been licensed to S&P Dow Jones Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) have been licensed for use by Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.