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 |
|---|---|---|---|---|---|
| Private Advisor Group, LLC | 6,386 | $443.3K | 0.00% | 00.0% | Unchanged |
| Moors & Cabot, Inc. | 6,479 | $449.8K | 0.02% | 00.0% | Unchanged |
| Daiwa Securities Group Inc. | 6,655 | $462.0K | 0.00% | −1,238−15.7% | Reduced |
| Kestra Advisory Services, LLC | 6,825 | $473.8K | 0.00% | +105+1.6% | Added |
| Massar Capital Management, LP | 6,844 | $475.1K | 0.09% | +6,844 | New |
| Vise Technologies, Inc. | 6,883 | $477.8K | 0.01% | +829+13.7% | Added |
| IFP Advisors, Inc | 6,918 | $480.2K | 0.01% | +183+2.7% | Added |
| Harbor Capital Advisors, Inc. | 7,002 | $486.0K | 0.04% | +654+10.3% | Added |
| SG Americas Securities, LLC | 7,035 | $488.0K | 0.00% | +3,430+95.1% | Added |
| QP Wealth Management, LLC | 7,089 | $492.1K | 0.43% | +7,089 | New |
| HSBC Holdings PLC | 7,268 | $504.5K | 0.00% | −1,065−12.8% | Reduced |
| Arkadios Wealth Advisors | 7,407 | $514.2K | 0.01% | +172+2.4% | Added |
| Clear Creek Financial Management, LLC | 7,417 | $514.9K | 0.04% | +1,035+16.2% | Added |
| Sumitomo Mitsui Trust Holdings, Inc. | 7,636 | $530.1K | 0.00% | +7,636 | New |
| STRS Ohio | 7,800 | $541.5K | 0.00% | 00.0% | Unchanged |
| Assetmark, Inc | 7,880 | $547.0K | 0.00% | +24+0.3% | Added |
| CSS LLC | 8,037 | $557.9K | 0.03% | −4,211−34.4% | Reduced |
| MML Investors Services, LLC | 8,097 | $562.1K | 0.00% | +2,961+57.7% | Added |
| Summit Global Investments | 8,166 | $567.0K | 0.03% | −10,736−56.8% | Reduced |
| Inspire Advisors, LLC | 8,567 | $594.7K | 0.05% | +8,567 | New |
| Colony Group, LLC | 8,687 | $603.1K | 0.00% | +3,415+64.8% | Added |
| EP Wealth Advisors, LLC | 8,719 | $605.3K | 0.00% | +8,719 | New |
| Atria Investments LLC | 8,770 | $608.8K | 0.01% | +1,590+22.1% | Added |
| Pacer Advisors, Inc. | 8,865 | $615.4K | 0.00% | −8,516−49.0% | Reduced |
| Xponance, Inc. | 8,961 | $622.1K | 0.00% | −1,290−12.6% | Reduced |
| Navellier & Associates Inc | 9,008 | $625.3K | 0.07% | −2,010−18.2% | Reduced |
| Guggenheim Capital LLC | 9,187 | $637.8K | 0.00% | −3,088−25.2% | Reduced |
| Meeder Advisory Services, Inc. | 9,192 | $638.1K | 0.03% | +145+1.6% | Added |
| Eagle Harbor Asset Management Inc | 9,456 | $656.5K | 0.55% | +116+1.2% | Added |
| US Bancorp | 9,470 | $657.4K | 0.00% | −21,056−69.0% | Reduced |
| Lighthouse Investment Partners, LLC | 9,588 | $665.6K | 0.02% | 00.0% | Unchanged |
| State of Alaska, Department of Revenue | 9,773 | $678.0K | 0.01% | −267−2.7% | Reduced |
| CWM Advisors, LLC | 9,906 | $687.7K | 0.06% | +2,559+34.8% | Added |
| Fox Run Management, L.L.C. | 10,777 | $748.1K | 0.12% | −1,329−11.0% | Reduced |
| Aquatic Capital Management LLC | 10,807 | $750.2K | 0.02% | +10,807 | New |
| Bahl & Gaynor Inc | 10,850 | $753.2K | 0.00% | 00.0% | Unchanged |
| O'Shaughnessy Asset Management, LLC | 10,928 | $758.6K | 0.00% | +998+10.1% | Added |
| RSM US Wealth Management LLC | 10,943 | $761.5K | 0.01% | −1,376−11.2% | Reduced |
| Pictet Asset Management Holding SA | 11,020 | $765.0K | 0.00% | +3,644+49.4% | Added |
| Huber Capital Management LLC | 11,215 | $778.5K | 0.11% | −1,551−12.1% | Reduced |
| Uncommon Cents Investing LLC | 11,405 | $791.7K | 0.19% | +300+2.7% | Added |
| Quantbot Technologies LP | 11,473 | $796.5K | 0.03% | +2,730+31.2% | Added |
| Landscape Capital Management, L.L.C. | 11,787 | $818.3K | 0.05% | −5,700−32.6% | Reduced |
| Parallax Volatility Advisers, L.P. | 11,937 | $828.7K | 0.03% | +11,937 | New |
| Commonwealth Equity Services, LLC | 12,054 | $836.8K | 0.00% | +1,383+13.0% | Added |
| Hantz Financial Services, Inc. | 12,126 | $842.0K | 0.01% | +360+3.1% | Added |
| Icon Advisers Inc | 12,237 | $849.5K | 0.18% | 00.0% | Unchanged |
| Oakmont Investment Advisors, Inc. | 12,270 | $851.8K | 0.62% | +12,270 | New |
| Natixis Advisors, L.P. | 12,364 | $858.0K | 0.00% | −295−2.3% | Reduced |
| Quest Partners LLC | 12,384 | $859.7K | 0.05% | −9,594−43.7% | Reduced |
| Roehl & Yi Investment Advisors, LLC | 12,503 | $868.0K | 0.35% | −40−0.3% | Reduced |
| Smith, Moore & Co. | 12,642 | $877.6K | 0.07% | −35−0.3% | Reduced |
| Burford Brothers, Inc. | 12,683 | $880.5K | 0.36% | −3,984−23.9% | Reduced |
| Eagle Global Advisors LLC | 12,830 | $890.7K | 0.03% | −5,910−31.5% | Reduced |
| New Mexico Educational Retirement Board | 13,306 | $924.0K | 0.03% | 00.0% | Unchanged |
| The PNC Financial Services Group, Inc. | 13,480 | $935.8K | 0.00% | +111+0.8% | Added |
| Captrust Financial Advisors | 13,760 | $955.2K | 0.00% | +1,580+13.0% | Added |
| Edgestream Partners, L.P. | 13,775 | $956.3K | 0.03% | +13,775 | New |
| Dark Forest Capital Management LP | 14,593 | $1.01M | 0.05% | −85,410−85.4% | Reduced |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 14,952 | $1.04M | 0.00% | +996+7.1% | Added |
| Lazard Asset Management LLC | 15,034 | $1.04M | 0.00% | −6,318−29.6% | Reduced |
| Oregon Public Employees Retirement Fund | 15,122 | $1.05M | 0.01% | +500+3.4% | Added |
| Exchange Traded Concepts, LLC | 15,201 | $1.06M | 0.01% | +1,676+12.4% | Added |
| Sterling Capital Management LLC | 15,323 | $1.06M | 0.02% | −494−3.1% | Reduced |
| D.A. Davidson & Co. | 15,327 | $1.06M | 0.01% | −796−4.9% | Reduced |
| Miller Howard Investments Inc | 15,357 | $1.07M | 0.03% | +1,217+8.6% | Added |
| Brevan Howard Capital Management LP | 15,509 | $1.08M | 0.02% | +15,509 | New |
| Kestra Investment Management, LLC | 15,849 | $1.10M | 0.03% | −1,027−6.1% | Reduced |
| Quadrant Capital Group LLC | 15,972 | $1.11M | 0.03% | +340+2.2% | Added |
| Neuberger Berman Group LLC | 16,495 | $1.15M | 0.00% | +3,889+30.9% | Added |
| CWA Asset Management Group, LLC | 16,877 | $1.17M | 0.04% | +2,626+18.4% | Added |
| Northwestern Mutual Investment Management Company, LLC | 16,886 | $1.17M | 0.01% | +647+4.0% | Added |
| Group One Trading, L.P. | 17,009 | $1.18M | 0.03% | +17,009 | New |
| American Century Companies Inc | 17,506 | $1.22M | 0.00% | −1,502−7.9% | Reduced |
| Foundations Investment Advisors, LLC | 17,562 | $1.22M | 0.02% | +11,263+178.8% | Added |
| Cornerstone Wealth Management, LLC | 17,632 | $1.22M | 0.06% | +992+6.0% | Added |
| State of Michigan Retirement System | 17,800 | $1.24M | 0.01% | +500+2.9% | Added |
| Quantinno Capital Management LP | 17,835 | $1.24M | 0.00% | +4,170+30.5% | Added |
| Greenland Capital Management LP | 18,126 | $1.26M | 0.18% | −11,447−38.7% | Reduced |
| Bank of Montreal | 18,424 | $1.28M | 0.00% | −10−0.1% | Reduced |
| First PREMIER Bank | 18,824 | $1.31M | 0.30% | −665−3.4% | Reduced |
| Police & Firemen's Retirement System of New Jersey | 19,831 | $1.38M | 0.01% | −297−1.5% | Reduced |
| AdvisorNet Financial, Inc | 19,955 | $1.39M | 0.07% | +20+0.1% | Added |
| Wealth Enhancement Advisory Services, LLC | 20,093 | $1.39M | 0.00% | +4,149+26.0% | Added |
| Arizona State Retirement System | 20,372 | $1.41M | 0.01% | −1,084−5.1% | Reduced |
| Advisor Group Holdings, Inc. | 20,537 | $1.43M | 0.00% | +2,153+11.7% | Added |
| Weiss Asset Management LP | 20,823 | $1.45M | 0.02% | +20,823 | New |
| Louisiana State Employees Retirement System | 20,900 | $1.45M | 0.02% | +600+3.0% | Added |
| Pathstone Holdings, LLC | 21,034 | $1.46M | 0.01% | −1,256−5.6% | Reduced |
| Teachers Retirement System of the State of Kentucky | 21,298 | $1.48M | 0.01% | 00.0% | Unchanged |
| IMC-Chicago, LLC | 21,396 | $1.49M | 0.03% | +21,396 | New |
| Citigroup Inc | 21,400 | $1.49M | 0.00% | −25,065−53.9% | Reduced |
| Capital Financial Group Inc | 21,950 | $1.52M | 0.85% | +21,950 | New |
| FMR LLC | 22,744 | $1.58M | 0.00% | −125,583−84.7% | Reduced |
| Sequoia Financial Advisors, LLC | 23,023 | $1.60M | 0.01% | +7,241+45.9% | Added |
| JustInvest LLC | 23,028 | $1.60M | 0.02% | +817+3.7% | Added |
| Schonfeld Strategic Advisors LLC | 23,181 | $1.61M | 0.01% | −61,906−72.8% | Reduced |
| Prudential Financial Inc | 23,277 | $1.62M | 0.00% | −165,632−87.7% | Reduced |
| Yousif Capital Management, LLC | 22,290 | $1.62M | 0.02% | +134+0.6% | Added |
| Convergence Investment Partners, LLC | 23,869 | $1.66M | 0.33% | −378−1.6% | Reduced |