Who owns HESM (HESM)
Which tracked institutional funds hold HESM, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See HESM company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
107 tracked funds added or opened HESM while 56 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
HESM’s largest tracked holder by dollar value, ALPS ADVISORS INC, sizes it at 5.6% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 5.6pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in HESM divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 288 tracked filers holding HESM, 163 increased or opened the position and 132 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in HESM between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 28
- Nearwater Capital Markets, Ltd$35M
- CIBC Bancorp USA Inc.$30M
- VANGUARD PORTFOLIO MANAGEMENT LLC$28M
- TWO SIGMA INVESTMENTS, LP$8M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$7M
- NOMURA HOLDINGS INC$6M
Full exits 23
- CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT$47M
- CIBC Private Wealth Group LLC$46M
- Point72 Asset Management, L.P.$39M
- VANGUARD GROUP INC$25M
- NEXPOINT ASSET MANAGEMENT, L.P.$8M
- VOLORIDGE INVESTMENT MANAGEMENT, LLC$6M
Largest adds
- Blackstone Inc.$176M
- ALPS ADVISORS INC$155M
- Bank of New York Mellon Corp$69M
- MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.$53M
- Invesco Ltd.$48M
- LAZARD ASSET MANAGEMENT LLC$39M
Largest trims
- ADAGE CAPITAL PARTNERS GP, L.L.C.$51M
- BALYASNY ASSET MANAGEMENT L.P.$33M
- EAGLE GLOBAL ADVISORS LLC$24M
- INFRASTRUCTURE CAPITAL ADVISORS, LLC$22M
- DEUTSCHE BANK AG\$12M
- WESTWOOD HOLDINGS GROUP INC$11M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| ALPS ADVISORS INC added | 30,880,193 | $1.2B | 25.4% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 7,949,898 | $309M | 6.5% | 2026-Q1 |
| Blackstone Inc. added | 7,769,525 | $302M | 6.4% | 2026-Q1 |
| Invesco Ltd. added | 7,103,115 | $276M | 5.8% | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 7,066,430 | $275M | 5.8% | 2026-Q1 |
| TORTOISE CAPITAL ADVISORS, L.L.C. added | 4,466,939 | $174M | 3.7% | 2026-Q1 |
| Bank of New York Mellon Corp added | 3,752,002 | $146M | 3.1% | 2026-Q1 |
| TD Asset Management Inc trimmed | 2,201,117 | $86M | 1.8% | 2026-Q1 |
| Epoch Investment Partners, Inc. trimmed | 2,081,821 | $81M | 1.7% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC trimmed | 1,975,914 | $77M | 1.6% | 2026-Q1 |
| UBS Group AG trimmed | 1,963,999 | $76M | 1.6% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 1,841,105 | $73M | 1.5% | 2026-Q1 |
| FMR LLC trimmed | 1,728,235 | $67M | 1.4% | 2026-Q1 |
| MORGAN STANLEY trimmed | 1,720,891 | $67M | 1.4% | 2026-Q1 |
| Clearbridge Investments, LLC added | 1,707,385 | $66M | 1.4% | 2026-Q1 |
| CI INVESTMENTS INC. trimmed | 1,551,776 | $60M | 1.3% | 2026-Q1 |
| KAYNE ANDERSON CAPITAL ADVISORS LP trimmed | 1,511,093 | $59M | 1.2% | 2026-Q1 |
| MILLER HOWARD INVESTMENTS INC /NY added | 1,491,899 | $58M | 1.2% | 2026-Q1 |
| WESTWOOD HOLDINGS GROUP INC trimmed | 1,311,435 | $51M | 1.1% | 2026-Q1 |
| Fractal Investments LLC | 1,185,220 | $46M | 1.0% | 2026-Q1 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. trimmed | 1,075,000 | $42M | 0.9% | 2026-Q1 |
| LAZARD ASSET MANAGEMENT LLC added | 1,069,244 | $42M | 0.9% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 959,321 | $37M | 0.8% | 2026-Q1 |
| Nearwater Capital Markets, Ltd new | 900,000 | $35M | 0.7% | 2026-Q1 |
| BlackRock, Inc. added | 891,965 | $35M | 0.7% | 2026-Q1 |
| EAGLE GLOBAL ADVISORS LLC trimmed | 857,561 | $33M | 0.7% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC added | 806,495 | $31M | 0.7% | 2026-Q1 |
| CIBC Bancorp USA Inc. new | 779,299 | $30M | 0.6% | 2026-Q1 |
| TUDOR INVESTMENT CORP ET AL trimmed | 763,131 | $30M | 0.6% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 725,622 | $28M | 0.6% | 2026-Q1 |
| BROOKFIELD Corp /ON/ trimmed | 720,858 | $28M | 0.6% | 2026-Q1 |
| BARCLAYS PLC trimmed | 712,024 | $28M | 0.6% | 2026-Q1 |
| INFRASTRUCTURE CAPITAL ADVISORS, LLC trimmed | 668,739 | $26M | 0.5% | 2026-Q1 |
| LONGFELLOW INVESTMENT MANAGEMENT CO LLC added | 570,158 | $22M | 0.5% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 447,260 | $17M | 0.4% | 2026-Q1 |
| Allianz Asset Management GmbH added | 415,942 | $16M | 0.3% | 2026-Q1 |
| JENNISON ASSOCIATES LLC added | 367,745 | $14M | 0.3% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 355,300 | $14M | 0.3% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 321,530 | $12M | 0.3% | 2026-Q1 |
| Burkehill Global Management, LP | 300,000 | $12M | 0.2% | 2026-Q1 |
| Zimmer Partners, LP trimmed | 299,800 | $12M | 0.2% | 2026-Q1 |
| Qube Research & Technologies Ltd trimmed | 286,012 | $11M | 0.2% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 275,291 | $11M | 0.2% | 2026-Q1 |
| STATE STREET CORP added | 264,966 | $10M | 0.2% | 2026-Q1 |
| Swiss National Bank trimmed | 243,300 | $9M | 0.2% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 238,724 | $9M | 0.2% | 2026-Q1 |
| NORDEA INVESTMENT MANAGEMENT AB trimmed | 232,752 | $9M | 0.2% | 2026-Q1 |
| STATE OF WISCONSIN INVESTMENT BOARD trimmed | 228,883 | $9M | 0.2% | 2026-Q1 |
| NEOS Investment Management LLC added | 228,554 | $9M | 0.2% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 228,027 | $9M | 0.2% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 204,906 | $8M | 0.2% | 2026-Q1 |
| LPL Financial LLC added | 204,564 | $8M | 0.2% | 2026-Q1 |
| EXCHANGE TRADED CONCEPTS, LLC added | 195,019 | $8M | 0.2% | 2026-Q1 |
| Americana Partners, LLC | 178,028 | $7M | 0.1% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 173,802 | $7M | 0.1% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 171,576 | $7M | 0.1% | 2026-Q1 |
| STIFEL FINANCIAL CORP trimmed | 169,177 | $7M | 0.1% | 2026-Q1 |
| NOMURA HOLDINGS INC new | 166,081 | $6M | 0.1% | 2026-Q1 |
| Advisors Asset Management, Inc. added | 155,840 | $6M | 0.1% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC trimmed | 147,977 | $6M | 0.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 146,575 | $6M | 0.1% | 2026-Q1 |
| Quantbot Technologies LP added | 146,479 | $6M | 0.1% | 2026-Q1 |
| Financial Sense Advisors, Inc. added | 145,267 | $6M | 0.1% | 2026-Q1 |
| Catalyst Capital Advisors LLC trimmed | 143,531 | $6M | 0.1% | 2026-Q1 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 135,137 | $5M | 0.1% | 2026-Q1 |
| GoodHaven Capital Management, LLC | 134,235 | $5M | 0.1% | 2026-Q1 |
| EVERGREEN CAPITAL MANAGEMENT LLC added | 133,093 | $5M | 0.1% | 2026-Q1 |
| SIR Capital Management, L.P. added | 127,300 | $5M | 0.1% | 2026-Q1 |
| Man Group plc added | 127,073 | $5M | 0.1% | 2026-Q1 |
| SCHRODER INVESTMENT MANAGEMENT GROUP trimmed | 124,071 | $5M | 0.1% | 2026-Q1 |
| Maryland State Retirement & Pension System trimmed | 116,028 | $5M | 0.1% | 2026-Q1 |
| Y-Intercept (Hong Kong) Ltd trimmed | 108,258 | $4M | 0.1% | 2026-Q1 |
| Legal & General Group Plc trimmed | 107,361 | $4M | 0.1% | 2026-Q1 |
| NORTHERN TRUST CORP added | 100,703 | $4M | 0.1% | 2026-Q1 |
| SPIRIT OF AMERICA MANAGEMENT CORP/NY trimmed | 99,837 | $4M | 0.1% | 2026-Q1 |
| Castellan Group added | 98,872 | $4M | 0.1% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 96,962 | $4M | 0.1% | 2026-Q1 |
| Westover Capital Advisors, LLC added | 95,993 | $4M | 0.1% | 2026-Q1 |
| Heronetta Management, L.P. trimmed | 92,505 | $4M | 0.1% | 2026-Q1 |
| Pinnacle Holdings, LLC added | 90,483 | $4M | 0.1% | 2026-Q1 |
| Artemis Investment Management LLP added | 2,796,934 | $97M | 2.0% | 2025-Q3 stale |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT trimmed | 1,357,200 | $47M | 1.0% | 2025-Q4 stale |
| CIBC Private Wealth Group LLC trimmed | 1,336,810 | $46M | 1.0% | 2025-Q4 stale |
| Energy Income Partners, LLC added | 1,080,367 | $42M | 0.9% | 2025-Q2 stale |
| Point72 Asset Management, L.P. added | 1,124,059 | $39M | 0.8% | 2025-Q4 stale |
| VANGUARD GROUP INC added | 726,951 | $25M | 0.5% | 2025-Q4 stale |
| NORGES BANK added | 410,200 | $15M | 0.3% | 2025-Q1 stale |
| Cubist Systematic Strategies, LLC added | 368,428 | $13M | 0.3% | 2025-Q3 stale |
| TOKIO MARINE ASSET MANAGEMENT CO LTD | 237,276 | $10M | 0.2% | 2025-Q1 stale |
| NEXPOINT ASSET MANAGEMENT, L.P. new | 221,900 | $8M | 0.2% | 2025-Q4 stale |
| Jain Global LLC added | 185,200 | $7M | 0.2% | 2025-Q2 stale |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC new | 170,129 | $6M | 0.1% | 2025-Q4 stale |
| CANADA PENSION PLAN INVESTMENT BOARD added | 158,700 | $5M | 0.1% | 2025-Q4 stale |
| ExodusPoint Capital Management, LP added | 156,729 | $5M | 0.1% | 2025-Q4 stale |
| Kercheville Advisors, LLC trimmed | 155,304 | $5M | 0.1% | 2025-Q3 stale |
| BI Asset Management Fondsmaeglerselskab A/S trimmed | 146,188 | $5M | 0.1% | 2025-Q4 stale |
| Alberta Investment Management Corp added | 139,550 | $5M | 0.1% | 2025-Q4 stale |
| ING GROEP NV | 109,000 | $4M | 0.1% | 2025-Q3 stale |
| Voleon Capital Management LP added | 107,070 | $4M | 0.1% | 2025-Q3 stale |
| Aster Capital Management (DIFC) Ltd new | 88,140 | $4M | 0.1% | 2025-Q1 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.