Core Insights - Cushing Asset Management sold 960,000 shares of Hess Midstream for an estimated value of $32.28 million in Q4 2025, resulting in a decrease in the position's value by $33.24 million due to trading and stock price movements [1][2] Company Overview - Hess Midstream is a leading energy infrastructure company that specializes in the ownership and operation of critical midstream assets across the oil and gas value chain [4] - The company operates pipelines, gas processing plants, storage facilities, and export terminals, primarily generating revenue through fee-based contracts supported by long-term agreements with producers [7][8] - As of January 26, 2026, Hess Midstream's market capitalization is $7.88 billion, with a revenue of $1.62 billion and a dividend yield of 7.94% [3] Financial Performance - The share price of Hess Midstream as of January 26, 2026, is $35.13, reflecting a one-year decline of approximately 5.7%, underperforming the S&P 500 by 22.10 percentage points [2] - The fund's stake in Hess Midstream has been reduced to approximately 2.69% of its reportable assets under management as of December 31, 2025 [2] Investment Implications - Hess Midstream is recognized for its ability to generate steady income in the energy sector, relying on stable throughput and disciplined balance sheet management to convert pipeline volumes into consistent cash distributions [6][8]

Core Insights - The primary objective for investors focusing on income-oriented investments is to achieve the highest realistic yield available in the market [1] Group 1: Investment Strategy - The investment approach emphasizes uncovering mispriced assets that the market has overlooked, leveraging a fundamentals-first methodology [1] - The analyst has managed investments since 1999, gaining insights through various market cycles, which informs their investment decisions [1] - While acknowledging the importance of market sentiment and technical factors, the focus remains on fundamental analysis in the current algorithm-driven investment environment [1]