How many subsidiaries does Hess Midstream LP file with the SEC?

28, listed in its most recent exhibit 21. All of them are incorporated in Delaware. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Hess Midstream LP financially healthy?

Hess Midstream LP scores 6 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Hess Midstream LP?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are JPMORGAN CHASE & CO (adding), FMR LLC (trimming), MORGAN STANLEY (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

Hess Midstream LP (HESM)

NYSE · Crude Petroleum & Natural Gas

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

28 entities across 1 jurisdiction. Read directly from the company’s own 10-K EX-21 filed 2026-02-25 — see the exhibit.

Which other public companies file entities in the same places:

Delaware28

Subsidiaries of Hess Midstream LP as disclosed in its SEC filing
Entity	Jurisdiction	Note
Hess Midstream LP	Delaware
Hess Midstream Operations LP	Delaware
Hess Infrastructure Partners Holdings LLC	Delaware
Hess Infrastructure Partners LP	Delaware
Hess Midstream Holdings LLC	Delaware
Hess Midstream Partners GP LLC	Delaware
Hess Midstream Partners GP LP	Delaware
Hess North Dakota Pipelines Operations LP	Delaware
Hess North Dakota Pipelines Holdings LLC	Delaware
Hess North Dakota Pipelines LLC	Delaware
Hess Water Services Holdings LLC	Delaware
Hess Water Services LLC	Delaware
Tioga Midstream, LLC	Delaware
Hess TGP Operations LP	Delaware
Hess TGP Holdings LLC	Delaware
Hess Bakken Processing LLC	Delaware
Hess Tioga Gas Plant LLC	Delaware
Hess LM4 Plant LLC	Delaware
Little Missouri 4 LLC	Delaware
Hess Mentor Storage Holdings LLC	Delaware
Hess Mentor Storage LLC	Delaware
Hess North Dakota Export Logistics Operations LP	Delaware
Hess North Dakota Export Logistics Holdings LLC	Delaware
Hess North Dakota Export Logistics LLC	Delaware
Hess Tank Cars Holdings LLC	Delaware
Hess Tank Cars LLC	Delaware
Hess Tank Cars Holdings II LLC	Delaware
Hess Tank Cars II LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 7

PASSReturn on assets positiveROA 8.0%
PASSOperating cash flow positiveOCF 984M
PASSReturn on assets improving5.4% → 8.0%
PASSCash flow exceeds earningsOCF 984M vs NI 353M
FAILLong-term debt ratio falling83.1% → 85.2% of assets
PASSCurrent ratio improving0.68 → 0.85
FAILNo share dilutionno data
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.36× → 0.37×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$1.1B	$24.0M	$340.6M	—	—
FY2021	$1.2B	$46.4M	$632.3M	—	—
FY2022	$1.3B	$83.9M	$622.9M	—	—
FY2023	$1.3B	$118.6M	$642.9M	—	—
FY2024	$1.5B	$223.1M	$634.2M	—	—
FY2025	$1.6B	$352.9M	$728.2M	—	—

Ownership flow

9 institutions tracked — 5 added, 4 reduced. Index money added 95,729 shares while active managers cut 728,929.

Institutional holders of Hess Midstream LP and their share-count change
Manager	Kind	Shares	Change	Value
MORGAN STANLEY	Active fund	1,167,570	−553,321	$43.9M
FMR LLC	Active fund	1,206,735	−521,500	$45.4M
RENAISSANCE TECHNOLOGIES LLC	Hedge fund	497,700	+142,400	$18.7M
BANK OF AMERICA CORP /DE/	Active fund	446,037	+124,507	$16.8M
Bridgewater Associates, LP	Hedge fund	149,973	+103,769	$5.6M
STATE STREET CORP	Index	365,577	+100,611	$13.7M
CITADEL ADVISORS LLC	Hedge fund	275,124	−90,267	$10.3M
JPMORGAN CHASE & CO	Active fund	1,906,588	+65,483	$71.2M
BlackRock, Inc.	Index	887,083	−4,882	$33.4M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Shares repurchased

2026Q1: $60.0M
2025Q1: $100.0M
2024Q1: $100.0M
2023Q1: $100.0M

Identity

CIK: 0001789832
SIC: 1311 · Crude Petroleum & Natural Gas
Incorporated: DE
Headquarters: HOUSTON, TX

Ownership

Institutional: 89.6%
Institutions: 372
Insiders: 0.9%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other crude petroleum & natural gas companies

Hess Midstream LP files under SIC 1311 — all 27 crude petroleum & natural gas companies compared on assets and F-score.

OCCIDENTAL PETROLEUM CORP /DE/OXY EOG RESOURCES INCEOG EQT CorpEQT DEVON ENERGY CORP/DEDVN Chord Energy CorpCHRD Crescent Energy CoCRGY

Dealer positioning — end of day

Where dealer gamma sat in HESM’s option chain after the close on 2026-09-01, aggregated from the full chain. This is a once-a-day snapshot, not a live read — 85 contracts.

Net gamma (per 1% move): $472,174.32
Gamma flip: 40
Call wall: 40
Put wall: 39
Spot at capture: 40.21

Computed from the listed option chain by my own aggregation, once, after the close — it describes where positioning sat that evening and does not update through the next session. The version that rebuilds per strike while the market is open is the intraday gamma product. Not investment advice.

Questions about Hess Midstream LP

How many subsidiaries does Hess Midstream LP file with the SEC?: 28, listed in its most recent exhibit 21. All of them are incorporated in Delaware. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Hess Midstream LP financially healthy?: Hess Midstream LP scores 6 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Hess Midstream LP?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are JPMORGAN CHASE & CO (adding), FMR LLC (trimming), MORGAN STANLEY (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.