Black Hills Corp
BKH- Exchange
- NYSE
- Industry
- Electric Services
- SEC CIK
- 0001130464
No open-market purchases or sales by Black Hills Corp insiders were filed in the last 90 days; 477 institutions reported holding it in 13F filings for Q2 2026, worth $5.83B in total; no superinvestor holds it.
13F holders, Q4 2025
Institutional positions in Black Hills Corp as of Dec 31, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works
- Institutional holders
- 461
- +37 vs. Q3 2025
- Shares held
- 72.5M
- +7.31M (+11.2%) vs. Q3 2025
- Total value
- $5.02B
- +$1.00B (+25.0%) vs. Q3 2025
- New holders
- 80
- 173 more added
- Sold out
- 43
- 138 more reduced
8 institutions that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q3 2025: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting BKH on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.
| Quarter | Holders | Value |
|---|---|---|
| Q2 2026 | 477 | $5.83B |
| Q1 2026 | 476 | $5.31B |
| Q4 2025 | 461 | $5.02B |
| Q3 2025 | 432 | $4.04B |
| Q2 2025 | 413 | $3.42B |
| Q1 2025 | 414 | $3.71B |
| Q4 2024 | 400 | $3.55B |
| Q3 2024 | 394 | $3.71B |
| Q2 2024 | 375 | $3.21B |
| Q1 2024 | 395 | $3.26B |
| Q4 2023 | 365 | $3.19B |
| Q3 2023 | 344 | $2.94B |
| Q2 2023 | 332 | $3.50B |
| Q1 2023 | 331 | $3.63B |
| Q4 2022 | 323 | $4.16B |
| Q3 2022 | 329 | $3.93B |
| Q2 2022 | 347 | $4.13B |
| Q1 2022 | 325 | $4.41B |
| Q4 2021 | 324 | $3.91B |
| Q3 2021 | 293 | $3.46B |
| Q2 2021 | 283 | $3.64B |
| Q1 2021 | 295 | $3.64B |
Institutions, Q4 2025
Shares, value and share of portfolio for each institution holding Black Hills Corp; share changes are against Q3 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| BlackRock, Inc. | 12,138,305 | $842.6M | 0.01% | +802,222+7.1% | Added |
| Vanguard Group Inc | 8,974,122 | $623.0M | 0.01% | −16,719−0.2% | Reduced |
| State Street Corp | 3,780,111 | $262.4M | 0.01% | −56,903−1.5% | Reduced |
| Nomura Asset Management International Inc. | 2,655,062 | $184.3M | 0.28% | +2,655,062 | New |
| Capital Research Global Investors | 2,275,922 | $158.0M | 0.03% | +634,800+38.7% | Added |
| Covalis Capital LLP | 2,057,160 | $142.8M | 11.15% | +2,057,160 | New |
| Geode Capital Management, LLC | 1,894,539 | $131.5M | 0.01% | +55,232+3.0% | Added |
| Point72 Asset Management, L.P. | 1,875,221 | $130.2M | 0.20% | +1,860,569+12,698.4% | Added |
| Adage Capital Partners GP, L.L.C. | 1,592,000 | $110.5M | 0.17% | +1,017,000+176.9% | Added |
| AQR Capital Management LLC | 1,418,384 | $98.5M | 0.05% | +44,334+3.2% | Added |
| Cohen & Steers, Inc. | 1,385,759 | $96.2M | 0.17% | +209,135+17.8% | Added |
| Nuveen, LLC | 1,230,205 | $85.4M | 0.02% | −39,785−3.1% | Reduced |
| Charles Schwab Investment Management Inc | 1,191,648 | $82.7M | 0.01% | −8,987−0.7% | Reduced |
| Two Sigma Investments, LP | 1,176,944 | $81.7M | 0.12% | +651,291+123.9% | Added |
| Dimensional Fund Advisors LP | 1,123,163 | $78.0M | 0.02% | +23,870+2.2% | Added |
| Two Sigma Advisers, LP | 978,200 | $67.9M | 0.13% | +861,702+739.7% | Added |
| Goldman Sachs Group Inc | 967,603 | $67.2M | 0.01% | +30,213+3.2% | Added |
| Northern Trust Corp | 918,827 | $63.8M | 0.01% | −38,666−4.0% | Reduced |
| Engineers Gate Manager LP | 849,073 | $58.9M | 0.70% | +844,327+17,790.3% | Added |
| Franklin Resources Inc | 832,727 | $57.8M | 0.01% | +243,466+41.3% | Added |
| Fuller & Thaler Asset Management, Inc. | 800,458 | $55.6M | 0.19% | −525,512−39.6% | Reduced |
| Bank of New York Mellon Corp | 789,678 | $54.8M | 0.01% | −64,158−7.5% | Reduced |
| First Trust Advisors LP | 728,943 | $50.6M | 0.04% | −142,030−16.3% | Reduced |
| Victory Capital Management Inc | 706,327 | $49.0M | 0.03% | −21,116−2.9% | Reduced |
| Invesco Ltd. | 609,706 | $42.3M | 0.00% | −208,642−25.5% | Reduced |
| ProShare Advisors LLC | 603,142 | $41.9M | 0.07% | −132,872−18.1% | Reduced |
| Millennium Management LLC | 574,943 | $39.9M | 0.03% | +456,193+384.2% | Added |
| UBS Group AG | 572,227 | $39.7M | 0.01% | +265,464+86.5% | Added |
| Morgan Stanley | 566,831 | $39.3M | 0.00% | −51,822−8.4% | Reduced |
| Think Investments LP | 537,637 | $37.3M | 4.77% | +537,637 | New |
| Gabelli Funds LLC | 533,331 | $37.0M | 0.25% | −4,914−0.9% | Reduced |
| Crawford Investment Counsel Inc | 489,565 | $34.0M | 0.57% | +41,914+9.4% | Added |
| JPMorgan Chase & Co | 437,371 | $30.4M | 0.00% | −180,760−29.2% | Reduced |
| Bank of America Corp | 430,230 | $29.9M | 0.00% | −100,476−18.9% | Reduced |
| Old Republic International Corporation | 416,000 | $28.9M | 1.17% | 00.0% | Unchanged |
| Janus Henderson Group PLC | 398,420 | $27.7M | 0.01% | −54,979−12.1% | Reduced |
| Manufacturers Life Insurance Company, The | 393,348 | $27.3M | 0.02% | −1,105−0.3% | Reduced |
| Duff & Phelps Investment Management Co | 389,700 | $27.1M | 0.31% | 00.0% | Unchanged |
| Hotchkis & Wiley Capital Management LLC | 380,574 | $26.4M | 0.08% | −23,557−5.8% | Reduced |
| Legal & General Group Plc | 339,452 | $23.6M | 0.01% | −36,703−9.8% | Reduced |
| Alliancebernstein L.P. | 309,141 | $21.5M | 0.01% | +170,681+123.3% | Added |
| HighTower Advisors, LLC | 278,659 | $19.3M | 0.02% | +91,120+48.6% | Added |
| Zimmer Partners, LP | 276,034 | $19.2M | 0.50% | −823,986−74.9% | Reduced |
| Freestone Grove Partners LP | 266,005 | $18.5M | 0.13% | +117,593+79.2% | Added |
| Voya Investment Management LLC | 255,898 | $17.8M | 0.02% | −14,073−5.2% | Reduced |
| Verition Fund Management LLC | 251,435 | $17.5M | 0.09% | +133,832+113.8% | Added |
| Jane Street Group, LLC | 240,551 | $16.7M | 0.02% | −685,198−74.0% | Reduced |
| Paradiem, LLC | 234,687 | $16.3M | 3.90% | −146−0.1% | Reduced |
| Brandywine Global Investment Management, LLC | 231,017 | $16.0M | 0.11% | −8,500−3.5% | Reduced |
| Rhumbline Advisers | 225,446 | $15.7M | 0.01% | −16,121−6.7% | Reduced |
| Squarepoint Ops LLC | 213,023 | $14.8M | 0.03% | +66,648+45.5% | Added |
| Gamco Investors, Inc. Et Al | 207,132 | $14.4M | 0.14% | −296−0.1% | Reduced |
| California Public Employees Retirement System | 203,337 | $14.1M | 0.01% | −51,109−20.1% | Reduced |
| Glenmede Trust Co NA | 191,410 | $13.3M | 0.06% | +191,410 | New |
| Barclays PLC | 164,079 | $11.4M | 0.00% | −2,298−1.4% | Reduced |
| Principal Financial Group Inc | 163,397 | $11.3M | 0.01% | −797−0.5% | Reduced |
| Connor, Clark & Lunn Investment Management Ltd. | 159,341 | $11.1M | 0.03% | +58,077+57.4% | Added |
| Phocas Financial Corp. | 154,041 | $10.7M | 1.39% | −20,619−11.8% | Reduced |
| Swiss National Bank | 143,779 | $9.98M | 0.01% | +3,200+2.3% | Added |
| Leeward Investments, LLC - MA | 141,580 | $9.83M | 0.50% | −779−0.5% | Reduced |
| Hunter Perkins Capital Management, LLC | 140,509 | $9.75M | 2.26% | −12,030−7.9% | Reduced |
| Yaupon Capital Management LP | 138,958 | $9.65M | 0.47% | +138,958 | New |
| First Eagle Investment Management, LLC | 126,670 | $8.79M | 0.02% | +3,000+2.4% | Added |
| Assenagon Asset Management S.A. | 124,539 | $8.65M | 0.01% | +124,539 | New |
| Mutual of America Capital Management LLC | 124,484 | $8.64M | 0.09% | −6,721−5.1% | Reduced |
| Martin Capital Partners, LLC | 123,489 | $8.57M | 3.22% | −1,001−0.8% | Reduced |
| Commonwealth of Pennsylvania Public School Empls Retrmt Sys | 122,582 | $8.51M | 0.04% | −14,548−10.6% | Reduced |
| Algert Global LLC | 120,604 | $8.37M | 0.13% | 00.0% | Unchanged |
| Wells Fargo & Company | 119,845 | $8.32M | 0.00% | +25,819+27.5% | Added |
| Ameriprise Financial Inc | 118,741 | $8.24M | 0.00% | −3,637−3.0% | Reduced |
| Stifel Financial Corp | 115,609 | $8.03M | 0.01% | +7,802+7.2% | Added |
| UBS Asset Management Americas Inc | 115,310 | $8.00M | 0.00% | −6,334−5.2% | Reduced |
| Russell Investments Group, Ltd. | 113,761 | $7.90M | 0.01% | +2,850+2.6% | Added |
| Royal Bank of Canada | 112,445 | $7.80M | 0.00% | +21,083+23.1% | Added |
| Jain Global LLC | 110,211 | $7.65M | 0.07% | +105,942+2,481.7% | Added |
| Citadel Advisors LLC | 100,668 | $6.99M | 0.00% | −439,133−81.4% | Reduced |
| Ieq Capital, LLC | 96,741 | $6.72M | 0.02% | +27,814+40.4% | Added |
| Thrivent Financial for Lutherans | 94,464 | $6.56M | 0.01% | −19,033−16.8% | Reduced |
| Mairs & Power Inc | 94,138 | $6.54M | 0.06% | −3,511−3.6% | Reduced |
| Marshall Wace, LLP | 91,853 | $6.38M | 0.01% | +58,508+175.5% | Added |
| Congress Asset Management Co | 90,687 | $6.30M | 0.04% | −2,697−2.9% | Reduced |
| Retirement Systems of Alabama | 90,579 | $6.29M | 0.02% | +2,496+2.8% | Added |
| SEI Investments Co | 89,361 | $6.20M | 0.01% | −10,618−10.6% | Reduced |
| BW Gestao de Investimentos Ltda. | 86,219 | $5.99M | 0.21% | +86,219 | New |
| Cerity Partners LLC | 85,406 | $5.93M | 0.01% | +15,531+22.2% | Added |
| Susquehanna International Group, LLP | 82,350 | $5.72M | 0.01% | +82,350 | New |
| Burney Co | 81,735 | $5.67M | 0.18% | +2,649+3.3% | Added |
| Benson Investment Management Company, Inc. | 79,555 | $5.52M | 1.93% | +890+1.1% | Added |
| MetLife Investment Management | 76,122 | $5.28M | 0.03% | −2,534−3.2% | Reduced |
| Federated Hermes, Inc. | 74,333 | $5.16M | 0.01% | +17,234+30.2% | Added |
| New York State Teachers Retirement System | 73,390 | $5.09M | 0.01% | 00.0% | Unchanged |
| Price T Rowe Associates Inc | 72,465 | $5.03M | 0.00% | +3,742+5.4% | Added |
| Man Group plc | 72,164 | $5.01M | 0.01% | +53,262+281.8% | Added |
| California State Teachers Retirement System | 69,066 | $4.79M | 0.00% | −1,487−2.1% | Reduced |
| Martingale Asset Management L P | 67,239 | $4.67M | 0.12% | −15,016−18.3% | Reduced |
| Envestnet Asset Management Inc | 65,339 | $4.54M | 0.00% | +3,631+5.9% | Added |
| Alta Capital Management LLC | 61,889 | $4.30M | 0.29% | −1,374−2.2% | Reduced |
| South Dakota Investment Council | 61,275 | $4.25M | 0.08% | −13,800−18.4% | Reduced |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 60,477 | $4.20M | 0.01% | −13,047−17.7% | Reduced |
| Warren Averett Asset Management, LLC | 58,752 | $4.08M | 0.03% | +1,623+2.8% | Added |