SCHEDULE: Tortoise Capital Advisors Updates Hess Midstream LP Stake
Beneficial Ownership Disclosure
Tortoise Capital Advisors, L.L.C. reported a 3.68% beneficial ownership stake in Hess Midstream LP as an investment adviser.
Summary
- Tortoise Capital Advisors, L.L.C. (TCA) filed an Amendment No. 2 to Schedule 13G, disclosing its beneficial ownership in Hess Midstream LP.
- As of September 30, 2025, TCA beneficially owns an aggregate of 4,827,169 Class A Shares Representing Limited Partner Interests in Hess Midstream LP.
- This aggregate amount represents 3.68% of the class of securities.
- TCA holds shared voting power over 4,272,215 shares and shared dispositive power over 4,272,215 shares.
- The filing certifies that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing the control of the issuer.
Sentiment
Score: 5
Explanation: Neutral, as this is a routine ownership disclosure filing (Schedule 13G) and does not contain operational or financial performance data for the issuer. It simply reports a passive investment stake.
Positives
- TCA's investment is stated to be in the ordinary course of business, indicating a passive investment strategy rather than an activist one.
Future Outlook
NA
Management Comments
- TCA acts as an investment adviser to certain investment companies registered under the Investment Company Act of 1940.
- TCA, by virtue of investment advisory agreements with these investment companies, has all investment and voting power over securities owned of record by these investment companies.
- The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.
Industry Context
This filing indicates a passive investment by an investment adviser in a midstream energy company. Midstream companies typically involve transportation and storage of oil and gas, often characterized by stable cash flows.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake, confirming a passive investment approach.
Key Dates
| Date | Description |
|---|---|
| 09/30/2025 | Date of event which requires filing of this statement. |
| 11/14/2025 | Signature date of the filing by Jeff Kruske, Chief Compliance Officer of Tortoise Capital Advisors, L.L.C. |
Keywords
Hess Midstream LP, HESM, Tortoise Capital Advisors, Investment Adviser, Schedule 13G, Beneficial Ownership, Limited Partner Interests, Midstream
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