Tortoise Capital files 13G/A on HESM with 3.68% ownership

Rhea-AI Filing Summary

Tortoise Capital Advisors, L.L.C. filed Amendment No. 2 to Schedule 13G reporting beneficial ownership of 4,827,169 Hess Midstream LP Class A shares, representing 3.68% of the class as of the stated event date. The filing identifies Tortoise as an investment adviser (IA) and states the securities are held in the ordinary course, not to change or influence control.

Tortoise reports authority stemming from advisory agreements with investment companies and managed accounts, under which clients retain the right to reclaim investment and voting power by terminating their agreements.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Hess Midstream LP

(Name of Issuer)

Class A Shares Representing Limited Partner Interests

(Title of Class of Securities)

42809H107

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 42809H107

1

Names of Reporting Persons

TORTOISE CAPITAL ADVISORS, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,272,215.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,827,169.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,827,169.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.7 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: Item 4: Ownership. 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. However, despite their delegation of investment and voting power to TCA, these investment companies may be deemed to be the beneficial owners under Rule 13d-3 of the Act, of the securities they own of record because they have the right to acquire investment and voting power through termination of their investment advisory agreement with TCA. Thus, TCA has reported that it shares voting power and dispositive power over the securities owned of record by these investment companies. TCA also acts as an investment adviser to certain managed accounts. Under contractual agreements with these managed account clients, TCA, with respect to the securities held in these client accounts, has investment and voting power with respect to certain of these client accounts, and has investment power but no voting power with respect to certain other of these client accounts. TCA has reported that it shares voting and/or investment power over the securities held by these client managed accounts despite a delegation of voting and/or investment power to TCA because the clients have the right to acquire investment and voting power through termination of their agreements with TCA. TCA may be deemed the beneficial owner of the securities covered by this statement under Rule 13d-3 of the Act.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Hess Midstream LP
(b)	Address of issuer's principal executive offices: 1501 MCKINNEY STREET, 1501 MCKINNEY STREET, HOUSTON, TEXAS, 77010.
Item 2.
(a)	Name of person filing: Tortoise Capital Advisors, L.L.C.
(b)	Address or principal business office or, if none, residence: The principal business address of TCA is 5901 College Boulevard, Suite 400, Overland Park, Kansas 66211
(c)	Citizenship: TCA is a Delaware limited liability company
(d)	Title of class of securities: Class A Shares Representing Limited Partner Interests
(e)	CUSIP No.: 42809H107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4,827,169
(b)	Percent of class: 3.68 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 4,272,215
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 4,272,215
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The investment companies and the managed accounts discussed in above have the right to receive all dividends from, and the proceeds from the sale securities held in their respective accounts. The interest of any one such person does not exceed 5% of the class of securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, 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 and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TORTOISE CAPITAL ADVISORS, L.L.C.

Signature:	Jeff Kruske
Name/Title:	Chief Compliance Officer
Date:	11/14/2025

FAQ

What did Tortoise Capital Advisors (HESM) file?

An Amendment No. 2 to Schedule 13G disclosing beneficial ownership in Hess Midstream LP.

How many HESM shares does Tortoise report owning?

Beneficial ownership of 4,827,169 Class A shares, representing 3.68% of the class.

What class of HESM securities is covered, and what is the CUSIP?

Class A Shares Representing Limited Partner Interests, CUSIP 42809H107.

What is Tortoise’s reporting status and domicile?

Reported as an Investment Adviser (IA); a Delaware limited liability company.

Does the filing indicate an attempt to influence control at HESM?

No. It certifies holdings are in the ordinary course and not for changing or influencing control.

Who has rights to dividends or sale proceeds on the reported shares?

The investment companies and managed accounts advised by Tortoise; no single person exceeds 5% of the class.

What is the event date associated with the ownership report?

The stated event date is 09/30/2025.