HESS MIDSTREAM LP HESM
CL A SHS · Common Stock · CUSIP 428103105
- SectorEnergy
- IndustryCrude Petroleum & Natural Gas
- HeadquartersHouston, TX
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($612.4k this quarter). Holder counts are more reliable. Shares outstanding: 129.4m as of 2025-10-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $34.50. Options: 7 managers hold calls ($17.4m notional), 7 hold puts ($9.5m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 152 |
| Q4 2022 | 161 |
| Q1 2023 | 154 |
| Q2 2023 | 171 |
| Q3 2023 | 198 |
| Q4 2023 | 213 |
| Q1 2024 | 221 |
| Q2 2024 | 241 |
| Q3 2024 | 254 |
| Q4 2024 | 270 |
| Q1 2025 | 275 |
| Q2 2025 | 274 |
| Q3 2025 | 267 |
| Q4 2025 | 268 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 127 | 84 |
| Q2 2024 | 143 | 70 |
| Q3 2024 | 162 | 67 |
| Q4 2024 | 142 | 97 |
| Q1 2025 | 160 | 109 |
| Q2 2025 | 169 | 116 |
| Q3 2025 | 137 | 131 |
| Q4 2025 | 134 | 138 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $46.7m | $7.6m | 0.16 |
| Q2 2025 | $21.2m | $6.3m | 0.30 |
| Q3 2025 | $65.1m | $54.6m | 0.84 |
| Q4 2025 | $17.4m | $9.5m | 0.55 |
Biggest buyers
| ADAGE CAPITAL PARTNERS GP, L.L.C. | New | +2.7m |
| FMR LLC | Added | +1.5m |
| ALPS ADVISORS INC | Added | +1.0m |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | Added | +989.9k |
| NEUBERGER BERMAN GROUP LLC | Added | +979.6k |
| Invesco Ltd. | Added | +641.1k |
| Balyasny Asset Management L.P. | Added | +608.1k |
| TUDOR INVESTMENT CORP ET AL | Added | +471.9k |
| Point72 Asset Management, L.P. | Added | +457.5k |
| Bank of New York Mellon Corp | Added | +390.9k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -2.8m |
| Artemis Investment Management LLP | Sold out | -2.8m |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT | Reduced | -960.0k |
| CITADEL ADVISORS LLC | Reduced | -757.4k |
| SCHRODER INVESTMENT MANAGEMENT GROUP | Reduced | -610.4k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -589.3k |
| LAZARD ASSET MANAGEMENT LLC | Reduced | -462.4k |
| Qube Research & Technologies Ltd | Reduced | -434.7k |
| Brookfield Corp /ON/ | Reduced | -402.4k |
| CIBC Private Wealth Group LLC | Reduced | -351.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $8.5m246.7k shares |
| JANE STREET GROUP, LLC | Added | $2.0m57.8k shares |
| GROUP ONE TRADING LLC | Reduced | $1.8m51.8k shares |
| CITADEL ADVISORS LLC | Reduced | $1.7m48.8k shares |
| MILLENNIUM MANAGEMENT LLC | New | $1.4m40.0k shares |
| IMC-Chicago, LLC | Added | $1.4m39.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $672.8k19.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.5m73.1k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.7m50.0k shares |
| CITADEL ADVISORS LLC | Reduced | $1.6m46.2k shares |
| GROUP ONE TRADING LLC | Reduced | $1.5m44.4k shares |
| JANE STREET GROUP, LLC | Added | $1.3m36.6k shares |
| IMC-Chicago, LLC | Reduced | $531.3k15.4k shares |
| SIMPLEX TRADING, LLC | Added | $317.4k9.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
Hess Investments North Dakota LLC
13D · may seek influence
+0.2 pts · filed 2026-10-08
Stated purposeItem 4 of the Statement is hereby amended and supplemented as follows: Purchase and Sale Agreement On October 6, 2026, the Issuer and HESM OpCo (collectively, the "Partnership Parties"), entered into a Purchase and Sale Agreement (the "Purchase Agreement") with Noble Energy, Inc. ("NEI"), CMH NewCo LLC ("CMH NewCo"), and HINDL (together with NEI and CMH NewCo, the "Seller Parties"). Each of the Seller Parties is an indirect, wholly owned subsidiary of Chevron. Pursuant to the Purchase Agreement, and subject to the terms and conditions set forth therein, at the closing of the transactions contemplated thereby (the "Closing"): (i) HINDL will sell to the Issuer 449,000 Class A Shares and 77,827,485 Class B units representing limited partner interests in HESM OpCo ("Class B Units," and such … Full filing |
38.0% |
| ALPS ADVISORS INC 13G · institution +0.7 pts · filed 2026-10-07 | 23.5% |
Global Infrastructure Investors II, LLC
13D · may seek influence
filed 2025-01-15
Stated purposeItem 4 of the Statement is hereby amended and supplemented as follows: January 2025 Repurchase Agreement On January 13, 2025, the Issuer, HESM Opco, Hess Investments and Blue Holding entered into a Unit Repurchase Agreement (the "January 2025 Repurchase Agreement"), pursuant to which HESM Opco agreed to purchase from Hess Investments and Blue Holding 967,541 and 1,605,136 Opco Class B Units, respectively (the "Repurchased Units"), for an aggregate purchase price of approximately $100 million, or $38.87 per unit (the "January 2025 Repurchase Transaction"). On January 15, 2025, pursuant to the terms of the January 2025 Repurchase Agreement, the January 2025 Repurchase Transaction closed. As a result, HESM Opco purchased and cancelled the Repurchased Units, and the Issuer cancelled, for no… Full filing |
23.2% |
| GOLDMAN SACHS ASSET MANAGEMENT, L.P. 13G · institution filed 2025-11-13 | 6.4% |
| Global X Management CO LLC 13G · institution new · filed 2026-05-15 | 5.5% |
| Bank of New York Mellon Corp 13G · institution new · filed 2026-10-22 | 5.1% |
| Invesco Ltd. 13G · institution new · filed 2026-02-12 | 5.1% |
Fell to 5% or below in the last year: Harvest Fund Advisors LLC (4.5%, 2026-08-07)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 2 | $377.6m | — |
| Q2 2024 | 0 | — | 1 | $391.3m | — |
| Q3 2024 | 0 | — | 1 | $444.3m | — |
| Q4 2024 | 0 | — | 1 | $279.8k | — |
| Q1 2025 | 0 | — | 1 | $84.7k | — |
| Q2 2025 | 0 | — | 1 | $127.1k | — |
| Q3 2025 | 0 | — | 1 | $2.6m | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| ALPS ADVISORS INC 6.09% of their portfolio | 30.3m $1.0bn | Added +1.0m |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 9.1m $313.3m | Added +330.8k |
| Invesco Ltd. 0.02% of their portfolio | 6.6m $228.4m | Added +641.1k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.33% of their portfolio | 6.4m $221.6m | Added +989.9k |
| TORTOISE CAPITAL ADVISORS, L.L.C. 1.94% of their portfolio | 4.4m $152.6m | Reduced -273.4k |
| Blackstone Inc. 0.55% of their portfolio | 3.6m $125.8m | Added +2.4k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.14% of their portfolio | 2.7m $92.3m | New |
| TD Asset Management Inc 0.07% of their portfolio | 2.6m $90.6m | Added +237.7k |
| Epoch Investment Partners, Inc. 0.49% of their portfolio | 2.5m $86.3m | Added +269.2k |
| NEUBERGER BERMAN GROUP LLC 0.06% of their portfolio | 2.3m $78.1m | Added +979.6k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.2m $77.3m | Added +390.9k |
| UBS Group AG 0.01% of their portfolio | 2.0m $70.3m | Added +69.0k |
| FMR LLC 0.00% of their portfolio | 1.8m $62.7m | Added +1.5m |
| WESTWOOD HOLDINGS GROUP INC 0.50% of their portfolio | 1.8m $61.7m | Reduced -308.6k |
| MORGAN STANLEY 0.00% of their portfolio | 1.8m $61.4m | Reduced -91.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.7m $60.0m | Reduced -2.8m |
| EAGLE GLOBAL ADVISORS LLC 2.13% of their portfolio | 1.7m $57.7m | Reduced -202.7k |
| KAYNE ANDERSON CAPITAL ADVISORS LP 1.29% of their portfolio | 1.6m $56.8m | Added +282.6k |
| Clearbridge Investments, LLC 0.05% of their portfolio | 1.6m $56.8m | Added +15.6k |
| CI INVESTMENTS INC. 0.24% of their portfolio | 1.6m $54.2m | Added +2.5k |
| MILLER HOWARD INVESTMENTS INC /NY 1.51% of their portfolio | 1.4m $49.9m | Reduced -60.8k |
| INFRASTRUCTURE CAPITAL ADVISORS, LLC 5.25% of their portfolio | 1.4m $47.6m | Reduced -23.4k |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 2.69% of their portfolio | 1.4m $46.8m | Reduced -960.0k |
| CIBC Private Wealth Group LLC 0.08% of their portfolio | 1.3m $46.1m | Reduced -351.8k |
| Fractal Investments LLC 5.71% of their portfolio | 1.2m $40.9m | Unchanged |
| Point72 Asset Management, L.P. 0.06% of their portfolio | 1.1m $38.8m | Added +457.5k |
| Brookfield Corp /ON/ 0.04% of their portfolio | 973.3k $33.6m | Reduced -402.4k |
| Balyasny Asset Management L.P. 0.06% of their portfolio | 972.2k $33.5m | Added +608.1k |
| TUDOR INVESTMENT CORP ET AL 0.17% of their portfolio | 912.5k $31.5m | Added +471.9k |
| BlackRock, Inc. 0.00% of their portfolio | 873.1k $30.1m | Reduced -30.7k |
| BARCLAYS PLC 0.01% of their portfolio | 829.1k $28.6m | Added +93.1k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 753.5k $26.0m | Added +56.8k |
| VANGUARD GROUP INC 0.00% of their portfolio | 727.0k $25.1m | Added +4.4k |
| FIRST TRUST ADVISORS LP 0.02% of their portfolio | 711.3k $24.5m | Added +69.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 683.8k $23.6m | Reduced -251.5k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 660.9k $22.8m | Added +338.5k |
| LONGFELLOW INVESTMENT MANAGEMENT CO LLC 4.09% of their portfolio | 525.2k $18.1m | Added +179.4k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 417.2k $14.4m | Added +10.7k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 415.9k $14.3m | Reduced -434.7k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 415.0k $14.3m | Reduced -8.6k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 368.4k $12.7m | Added +357.5k |
| Zimmer Partners, LP 0.32% of their portfolio | 351.7k $12.1m | Reduced -255.8k |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 351.6k $12.1m | Reduced -90.1k |
| Burkehill Global Management, LP 0.68% of their portfolio | 300.0k $10.3m | Unchanged |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio | 298.9k $10.3m | Added +293.2k |
| STATE STREET CORP 0.00% of their portfolio | 263.4k $9.1m | Reduced -26.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 246.2k $8.5m | Added +7.3k |
| Swiss National Bank 0.01% of their portfolio | 245.6k $8.5m | Added +4.2k |
| NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio | 242.6k $8.3m | Reduced -44.1k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 229.1k $7.9m | Reduced -28.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 228.5k $7.9m | Reduced -7.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 228.4k $7.9m | Added +9.0k |
| NEXPOINT ASSET MANAGEMENT, L.P. 0.53% of their portfolio | 221.9k $7.7m | New |
| LPL Financial LLC 0.00% of their portfolio | 198.5k $6.8m | Reduced -23.4k |
| Susquehanna Portfolio Strategies, LLC 0.10% of their portfolio | 195.7k $6.8m | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 190.8k $6.6m | Added +3.0k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 184.4k $6.4m | Reduced -589.3k |
| Americana Partners, LLC 0.17% of their portfolio | 178.0k $6.1m | Added +159.0k |
| EXCHANGE TRADED CONCEPTS, LLC 0.05% of their portfolio | 177.0k $6.1m | Added +45.1k |
| STIFEL FINANCIAL CORP 0.01% of their portfolio | 172.6k $6.0m | Added +140.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio | 170.1k $5.9m | New |
| Jump Financial, LLC 0.07% of their portfolio | 167.0k $5.8m | Added +106.0k |
| Catalyst Capital Advisors LLC 0.12% of their portfolio | 163.6k $5.6m | Reduced -37.8k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 158.7k $5.5m | New |
| ExodusPoint Capital Management, LP 0.06% of their portfolio | 156.7k $5.4m | New |
| Advisors Asset Management, Inc. 0.09% of their portfolio | 147.6k $5.1m | Added +14.5k |
| BI Asset Management Fondsmaeglerselskab A/S 0.04% of their portfolio | 146.2k $5.0m | Reduced -253.8k |
| Alberta Investment Management Corp 0.03% of their portfolio | 139.6k $4.8m | New |
| GoodHaven Capital Management, LLC 1.50% of their portfolio | 134.2k $4.6m | Unchanged |
| EVERGREEN CAPITAL MANAGEMENT LLC 0.10% of their portfolio | 131.6k $4.5m | Added +8.8k |
| Stokes Capital Advisors, LLC 1.02% of their portfolio | 129.8k $4.5m | Reduced -2.9k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio | 126.1k $4.3m | Reduced -610.4k |
| CHICKASAW CAPITAL MANAGEMENT LLC 0.18% of their portfolio | 124.5k $4.3m | Added +5.9k |
| Legal & General Group Plc 0.00% of their portfolio | 122.4k $4.2m | Reduced -12.9k |
| Maryland State Retirement & Pension System 0.09% of their portfolio | 121.5k $4.2m | Unchanged |
| SPIRIT OF AMERICA MANAGEMENT CORP/NY 0.83% of their portfolio | 113.8k $3.9m | Reduced -24.0k |
| Sanctuary Advisors, LLC 0.02% of their portfolio | 113.0k $3.9m | Reduced -101.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 112.7k $3.9m | Unchanged |
| ALGERT GLOBAL LLC 0.05% of their portfolio | 102.0k $3.5m | Reduced -109.3k |
| Man Group plc 0.01% of their portfolio | 101.4k $3.5m | Added +70.6k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 100.6k $3.5m | Reduced -15.7k |
| Westover Capital Advisors, LLC 0.60% of their portfolio | 95.4k $3.3m | Added +12.7k |
| Walleye Capital LLC 0.02% of their portfolio | 94.1k $3.2m | Added +62.8k |
| Heronetta Management, L.P. 1.87% of their portfolio | 93.9k $3.2m | Reduced -9.1k |
| Jefferies Financial Group Inc. 0.03% of their portfolio | 91.6k $3.2m | Added +12.0k |
| Castellan Group 0.39% of their portfolio | 90.0k $3.1m | Added +5.4k |
| Pinnacle Holdings, LLC 1.04% of their portfolio | 89.6k $3.1m | Added +529 |
| ALPINE WOODS CAPITAL INVESTORS, LLC 0.73% of their portfolio | 89.3k $3.1m | New |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 88.3k $3.0m | Reduced -462.4k |
| Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio | 87.6k $3.0m | Reduced -11.6k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.10% of their portfolio | 85.9k $3.0m | Reduced -29.8k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 82.1k $2.8m | Reduced -757.4k |
| Financial Sense Advisors, Inc. 0.52% of their portfolio | 80.3k $2.8m | Reduced -164.9k |
| Inspire Investing, LLC 0.24% of their portfolio | 78.4k $2.7m | New |
| Aquatic Capital Management LLC 0.07% of their portfolio | 73.9k $2.5m | New |
| Quantbot Technologies LP 0.08% of their portfolio | 72.8k $2.5m | New |
| MACKENZIE FINANCIAL CORP 0.00% of their portfolio | 71.9k $2.5m | Reduced -77.8k |
| NAPLES GLOBAL ADVISORS, LLC 0.18% of their portfolio | 70.8k $2.4m | Reduced -950 |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 69.9k $2.4m | Added +3.8k |
| Verition Fund Management LLC 0.01% of their portfolio | 69.8k $2.4m | Reduced -351.7k |