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 |
|---|---|---|---|---|---|
| BNP Paribas Arbitrage, SA | 24,233 | $1.68M | 0.00% | +403+1.7% | Added |
| HITE Hedge Asset Management LLC | 25,000 | $1.74M | 0.11% | +25,000 | New |
| Avantax Planning Partners, Inc. | 25,817 | $1.79M | 0.05% | −3,376−11.6% | Reduced |
| Mercer Global Advisors Inc | 26,124 | $1.81M | 0.00% | +5,525+26.8% | Added |
| State Board of Administration of Florida Retirement System | 26,244 | $1.82M | 0.00% | +9,835+59.9% | Added |
| Buckley Wealth Management, LLC | 26,531 | $1.84M | 0.49% | +900+3.5% | Added |
| Bollard Group LLC | 27,241 | $1.89M | 0.05% | −404−1.5% | Reduced |
| Van Eck Associates Corp | 28,202 | $1.96M | 0.00% | +1,994+7.6% | Added |
| Barnett & Company, Inc. | 28,700 | $1.99M | 1.60% | +300+1.1% | Added |
| Bridgeway Capital Management, LLC | 29,000 | $2.01M | 0.04% | +12,000+70.6% | Added |
| BTG Pactual Asset Management US LLC | 29,102 | $2.02M | 0.22% | −4,910−14.4% | Reduced |
| Cetera Investment Advisers | 29,251 | $2.03M | 0.00% | +779+2.7% | Added |
| Advisors Asset Management, Inc. | 29,303 | $2.03M | 0.03% | +562+2.0% | Added |
| Intech Investment Management LLC | 29,509 | $2.05M | 0.02% | −11,759−28.5% | Reduced |
| DC Investments Management, LLC | 29,900 | $2.08M | 0.92% | 00.0% | Unchanged |
| State of New Jersey Common Pension Fund D | 30,685 | $2.13M | 0.01% | −4,932−13.8% | Reduced |
| Amalgamated Bank | 31,719 | $2.20M | 0.02% | −366−1.1% | Reduced |
| Voloridge Investment Management, LLC | 32,591 | $2.26M | 0.01% | +10,615+48.3% | Added |
| Comerica Bank | 32,842 | $2.28M | 0.01% | +547+1.7% | Added |
| Polaris Capital Management, LLC | 33,700 | $2.34M | 0.19% | −2,700−7.4% | Reduced |
| Mirae Asset Global ETFs Holdings Ltd. | 34,097 | $2.37M | 0.00% | +303+0.9% | Added |
| Horizon Investments, LLC | 34,523 | $2.40M | 0.03% | +14,716+74.3% | Added |
| Entropy Technologies, LP | 36,160 | $2.51M | 0.14% | +27,510+318.0% | Added |
| Simplex Trading, LLC | 37,089 | $2.57M | 0.07% | +24,702+199.4% | Added |
| Allianz Asset Management GmbH | 37,811 | $2.62M | 0.00% | −3,484−8.4% | Reduced |
| Ameritas Investment Partners, Inc. | 37,875 | $2.63M | 0.08% | −2,109−5.3% | Reduced |
| Brinker Capital Investments, LLC | 38,739 | $2.69M | 0.02% | −762−1.9% | Reduced |
| State of Tennessee, Treasury Department | 37,333 | $2.72M | 0.01% | +13,562+57.1% | Added |
| Macquarie Group Ltd | 40,147 | $2.79M | 0.01% | −2,184,648−98.2% | Reduced |
| Hudson Bay Capital Management LP | 40,638 | $2.82M | 0.02% | +40,638 | New |
| Riverwater Partners LLC | 41,579 | $2.89M | 1.12% | 00.0% | Unchanged |
| Meritage Portfolio Management | 41,683 | $2.89M | 0.19% | −42,686−50.6% | Reduced |
| First Manhattan Co | 42,752 | $2.97M | 0.01% | −75−0.2% | Reduced |
| AMG National Trust Bank | 43,856 | $3.04M | 0.07% | +418+1.0% | Added |
| Great West Life Assurance Co | 43,904 | $3.05M | 0.01% | +2,106+5.0% | Added |
| New York State Common Retirement Fund | 44,276 | $3.07M | 0.00% | −2,966−6.3% | Reduced |
| Susquehanna Fundamental Investments, LLC | 44,949 | $3.12M | 0.11% | −1,112−2.4% | Reduced |
| SummitTX Capital, L.P. | 45,773 | $3.18M | 0.10% | +45,773 | New |
| Farmers & Merchants Investments Inc | 45,978 | $3.19M | 0.09% | −1,386−2.9% | Reduced |
| Lesa Sroufe & Co | 46,257 | $3.21M | 2.39% | +424+0.9% | Added |
| Alps Advisors Inc | 46,561 | $3.23M | 0.02% | +13,841+42.3% | Added |
| Hennessy Advisors Inc | 47,147 | $3.27M | 0.12% | +300+0.6% | Added |
| Cozad Asset Management Inc | 47,225 | $3.28M | 0.25% | +29,026+159.5% | Added |
| Creative Planning | 47,750 | $3.31M | 0.00% | +10,232+27.3% | Added |
| CWM, LLC | 47,974 | $3.33M | 0.01% | +5,071+11.8% | Added |
| LPL Financial LLC | 48,334 | $3.36M | 0.00% | +1,297+2.8% | Added |
| State of Wisconsin Investment Board | 48,845 | $3.39M | 0.01% | −3,352−6.4% | Reduced |
| Jump Financial, LLC | 49,600 | $3.44M | 0.04% | +49,600 | New |
| Nisa Investment Advisors, LLC | 49,687 | $3.45M | 0.01% | +2,263+4.8% | Added |
| Cambridge Investment Research Advisors, Inc. | 49,795 | $3.46M | 0.01% | +1,467+3.0% | Added |
| D. E. Shaw & Co., Inc. | 50,920 | $3.53M | 0.00% | −74,851−59.5% | Reduced |
| Raymond James Financial Inc | 51,111 | $3.55M | 0.00% | −39,740−43.7% | Reduced |
| Mackenzie Financial Corp | 51,256 | $3.56M | 0.00% | −680−1.3% | Reduced |
| John G Ullman & Associates Inc | 51,391 | $3.57M | 0.48% | −900−1.7% | Reduced |
| Midwest Trust Co | 51,412 | $3.57M | 0.04% | −2,197−4.1% | Reduced |
| Magellan Asset Management Ltd | 51,532 | $3.58M | 0.04% | +3,434+7.1% | Added |
| Mariner, LLC | 53,441 | $3.71M | 0.00% | +9,200+20.8% | Added |
| Susquehanna Portfolio Strategies, LLC | 53,755 | $3.73M | 0.06% | +53,755 | New |
| Ontario Teachers Pension Plan Board | 54,852 | $3.81M | 0.08% | −16,759−23.4% | Reduced |
| Deutsche Bank AG | 55,431 | $3.85M | 0.00% | +2,752+5.2% | Added |
| Boston Partners | 58,553 | $4.06M | 0.00% | −2,707−4.4% | Reduced |
| Warren Averett Asset Management, LLC | 58,752 | $4.08M | 0.03% | +1,623+2.8% | Added |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 60,477 | $4.20M | 0.01% | −13,047−17.7% | Reduced |
| South Dakota Investment Council | 61,275 | $4.25M | 0.08% | −13,800−18.4% | Reduced |
| Alta Capital Management LLC | 61,889 | $4.30M | 0.29% | −1,374−2.2% | Reduced |
| Envestnet Asset Management Inc | 65,339 | $4.54M | 0.00% | +3,631+5.9% | Added |
| Martingale Asset Management L P | 67,239 | $4.67M | 0.12% | −15,016−18.3% | Reduced |
| California State Teachers Retirement System | 69,066 | $4.79M | 0.00% | −1,487−2.1% | Reduced |
| Man Group plc | 72,164 | $5.01M | 0.01% | +53,262+281.8% | Added |
| Price T Rowe Associates Inc | 72,465 | $5.03M | 0.00% | +3,742+5.4% | Added |
| New York State Teachers Retirement System | 73,390 | $5.09M | 0.01% | 00.0% | Unchanged |
| Federated Hermes, Inc. | 74,333 | $5.16M | 0.01% | +17,234+30.2% | Added |
| MetLife Investment Management | 76,122 | $5.28M | 0.03% | −2,534−3.2% | Reduced |
| Benson Investment Management Company, Inc. | 79,555 | $5.52M | 1.93% | +890+1.1% | Added |
| Burney Co | 81,735 | $5.67M | 0.18% | +2,649+3.3% | Added |
| Susquehanna International Group, LLP | 82,350 | $5.72M | 0.01% | +82,350 | New |
| Cerity Partners LLC | 85,406 | $5.93M | 0.01% | +15,531+22.2% | Added |
| BW Gestao de Investimentos Ltda. | 86,219 | $5.99M | 0.21% | +86,219 | New |
| SEI Investments Co | 89,361 | $6.20M | 0.01% | −10,618−10.6% | Reduced |
| Retirement Systems of Alabama | 90,579 | $6.29M | 0.02% | +2,496+2.8% | Added |
| Congress Asset Management Co | 90,687 | $6.30M | 0.04% | −2,697−2.9% | Reduced |
| Marshall Wace, LLP | 91,853 | $6.38M | 0.01% | +58,508+175.5% | Added |
| Mairs & Power Inc | 94,138 | $6.54M | 0.06% | −3,511−3.6% | Reduced |
| Thrivent Financial for Lutherans | 94,464 | $6.56M | 0.01% | −19,033−16.8% | Reduced |
| Ieq Capital, LLC | 96,741 | $6.72M | 0.02% | +27,814+40.4% | Added |
| Citadel Advisors LLC | 100,668 | $6.99M | 0.00% | −439,133−81.4% | Reduced |
| Jain Global LLC | 110,211 | $7.65M | 0.07% | +105,942+2,481.7% | Added |
| Royal Bank of Canada | 112,445 | $7.80M | 0.00% | +21,083+23.1% | Added |
| Russell Investments Group, Ltd. | 113,761 | $7.90M | 0.01% | +2,850+2.6% | Added |
| UBS Asset Management Americas Inc | 115,310 | $8.00M | 0.00% | −6,334−5.2% | Reduced |
| Stifel Financial Corp | 115,609 | $8.03M | 0.01% | +7,802+7.2% | Added |
| Ameriprise Financial Inc | 118,741 | $8.24M | 0.00% | −3,637−3.0% | Reduced |
| Wells Fargo & Company | 119,845 | $8.32M | 0.00% | +25,819+27.5% | Added |
| Algert Global LLC | 120,604 | $8.37M | 0.13% | 00.0% | Unchanged |
| Commonwealth of Pennsylvania Public School Empls Retrmt Sys | 122,582 | $8.51M | 0.04% | −14,548−10.6% | Reduced |
| Martin Capital Partners, LLC | 123,489 | $8.57M | 3.22% | −1,001−0.8% | Reduced |
| Mutual of America Capital Management LLC | 124,484 | $8.64M | 0.09% | −6,721−5.1% | Reduced |
| Assenagon Asset Management S.A. | 124,539 | $8.65M | 0.01% | +124,539 | New |
| First Eagle Investment Management, LLC | 126,670 | $8.79M | 0.02% | +3,000+2.4% | Added |
| Yaupon Capital Management LP | 138,958 | $9.65M | 0.47% | +138,958 | New |