SCHEDULE: ALPS Advisors, Alerian MLP ETF Disclose Significant Hess Midstream LP Stake

ALPS Advisors, Inc. and Alerian MLP ETF have reported beneficial ownership of 13.29% and 13.11% respectively, of Hess Midstream LP's common units as of December 31, 2025.

Summary

• ALPS Advisors, Inc. reported beneficial ownership of 30,303,091 common units of Hess Midstream LP, representing 13.29% of the class.
• Alerian MLP ETF reported beneficial ownership of 29,908,345 common units of Hess Midstream LP, representing 13.11% of the class.
• ALPS Advisors, Inc. serves as an investment adviser to Alerian MLP ETF, which is an investment company.
• The securities are held in the ordinary course of business and were not acquired for the purpose of changing or influencing control of Hess Midstream LP.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of beneficial ownership by an investment adviser and an ETF. It indicates continued significant institutional interest in Hess Midstream LP, which can be seen as a positive signal of investor confidence, but it does not contain new operational or financial performance data to significantly alter sentiment.

Positives

• Significant institutional ownership by ALPS Advisors, Inc. and Alerian MLP ETF indicates continued confidence in Hess Midstream LP's long-term prospects from these investment entities.
• The holdings are for investment purposes in the ordinary course of business, not for control-seeking, suggesting a stable institutional investor base.

Future Outlook

NA

Industry Context

Hess Midstream LP operates in the midstream energy sector, providing essential services like gathering, processing, and transportation of crude oil, natural gas, and NGLs. The significant ownership by Alerian MLP ETF, an exchange-traded fund focused on Master Limited Partnerships (MLPs), highlights Hess Midstream LP's position as a key component within the MLP investment universe, often valued for their stable cash flows and distributions.

Comparison to Industry Standards

• The filing does not provide performance data for Hess Midstream LP to compare against industry standards or specific comparable companies.
• Alerian MLP ETF's investment in Hess Midstream LP is consistent with its mandate to track the Alerian MLP Infrastructure Index, which includes energy infrastructure MLPs.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, potentially reinforcing confidence in the stock's institutional backing.
• Investment Community: Offers insight into the holdings of a prominent MLP-focused ETF and its advisor, influencing how other investors might view Hess Midstream LP within the midstream sector.

Key Dates

Keywords

Hess Midstream LP, HESM, ALPS Advisors, Alerian MLP ETF, MLP, Midstream, SEC Filing, Schedule 13G, Beneficial Ownership, Investment Adviser, Investment Company, Common Units