ALPS-advised funds hold ~23.8% of Hess Midstream (HESM) in amended 13G

Rhea-AI Filing Summary

Hess Midstream (HESM) Schedule 13G/A amends reported passive ownership: ALPS Advisors, Inc. reports shared voting and dispositive power over 30,880,193 common units (23.87%) and Alerian MLP ETF reports shared voting and dispositive power over 30,496,065 common units (23.57%).

Both reporting persons state the units are owned by investment funds advised by ALPS Advisors, and ALPS Advisors disclaims beneficial ownership while acknowledging it furnishes investment advice to the Funds.

Key Figures

ALPS Advisors units: 30,880,193 units ALPS Advisors percent: 23.87% Alerian MLP ETF units: 30,496,065 units +2 more

5 metrics

ALPS Advisors units 30,880,193 units Amount for which ALPS Advisors reports shared voting/dispositive power

ALPS Advisors percent 23.87% Percent of class reported by ALPS Advisors

Alerian MLP ETF units 30,496,065 units Amount for which Alerian MLP ETF reports shared voting/dispositive power

Alerian MLP ETF percent 23.57% Percent of class reported by Alerian MLP ETF

Filing signature date 04/06/2026 Date Matthew Sutula signed the amendment

Key Terms

Schedule 13G/A, dispositive power, investment company, beneficial ownership

4 terms

Schedule 13G/A regulatory

"Amendment No. 6 ) Hess Midstream LP Common Units Representing Limited Partner Interests"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

dispositive power financial

"Shared Dispositive Power 30,880,193.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

investment company regulatory

"Alerian MLP ETF is an investment company registered under the Investment Company Act"

beneficial ownership financial

"AAI disclaims beneficial ownership of such securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Hess Midstream LP

(Name of Issuer)

Common Units Representing Limited Partner Interests

(Title of Class of Securities)

428103105

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 428103105

1

Names of Reporting Persons

ALPS Advisors, Inc.

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

COLORADO

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 30,880,193.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 30,880,193.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

30,880,193.00

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)

23.87 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 428103105

1

Names of Reporting Persons

Alerian MLP ETF

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 30,496,065.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 30,496,065.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

30,496,065.00

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)

23.57 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Hess Midstream LP
(b)	Address of issuer's principal executive offices: 1400 SMITH STREET, Houston, TX, 77002
Item 2.
(a)	Name of person filing: (1) ALPS Advisors, Inc. (2) Alerian MLP ETF
(b)	Address or principal business office or, if none, residence: (1) ALPS Advisors, Inc.: 1290 Broadway, Suite 1000, Denver, CO, 80203 (2) Alerian MLP ETF: 1290 Broadway, Suite 1000, Denver, CO, 80203
(c)	Citizenship: (1) ALPS Advisors, Inc.: Colorado (2) Alerian MLP ETF: Delaware
(d)	Title of class of securities: Common Units Representing Limited Partner Interests
(e)	CUSIP No.:
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: (1) ALPS Advisors, Inc.: 30880193 (2) Alerian MLP ETF: 30496065
(b)	Percent of class: (1) ALPS Advisors, Inc.: 23.87% (2) Alerian MLP ETF: 23.57%
(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: (1) ALPS Advisors, Inc.: 30880193 (2) Alerian MLP ETF: 30496065
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: (1) ALPS Advisors, Inc.: 30880193 (2) Alerian MLP ETF: 30496065
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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. ALPS Advisors, Inc. ("AAI"), an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to investment companies registered under the Investment Company Act of 1940 (collectively referred to as the "Funds"). In its role as investment advisor, AAI has voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deemed to be the beneficial owner of the shares of the Issuer held by the Funds. However, all securities reported in this schedule are owned by the Funds. AAI disclaims beneficial ownership of such securities. In addition, the filing of this Schedule 13G shall not be construed as an admission that the reporting person or any of its affiliates is the beneficial owner of any securities covered by this Schedule 13G for any other purposes than Section 13(d) of the Securities Exchange Act of 1934. Alerian MLP ETF is an investment company registered under the Investment Company Act of 1940 and is one of the Funds to which AAI provides investment advice.
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.

ALPS Advisors, Inc.

Signature:	/s/ Matthew Sutula
Name/Title:	Matthew Sutula, Chief Compliance Officer
Date:	04/06/2026

Alerian MLP ETF

Signature:	/s/ Matthew Sutula
Name/Title:	Matthew Sutula, Chief Compliance Officer
Date:	04/06/2026

FAQ

What stake does ALPS Advisors report in HESM?

ALPS Advisors reports shared power over 30,880,193 units (23.87%). The filing states these units are owned by funds advised by ALPS and that ALPS disclaims beneficial ownership while exercising voting/investment authority for those funds.

How many HESM units does Alerian MLP ETF hold per the amendment?

Alerian MLP ETF reports shared power over 30,496,065 units (23.57%). The filing identifies Alerian MLP ETF as a fund advised by ALPS Advisors and lists its place of organization as Delaware.

Does ALPS Advisors claim direct beneficial ownership of HESM units?

No — ALPS Advisors disclaims beneficial ownership. The filing explains ALPS furnishes investment advice to funds that own the units and may be deemed to have voting or investment power but disclaims ownership for other purposes.

Who signed the Schedule 13G/A for these holdings?

Matthew Sutula, Chief Compliance Officer, signed the amendment on 04/06/2026. The signature block shows the same signer and title for both reporting entities named in the filing.

What class of securities is disclosed in this filing?

Common Units Representing Limited Partner Interests. The filing lists the issuer's principal executive offices at 1400 Smith Street, Houston, TX, 77002.