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 |
|---|---|---|---|---|---|
| Boston Partners | 58,553 | $4.06M | 0.00% | −2,707−4.4% | Reduced |
| Deutsche Bank AG | 55,431 | $3.85M | 0.00% | +2,752+5.2% | Added |
| Ontario Teachers Pension Plan Board | 54,852 | $3.81M | 0.08% | −16,759−23.4% | Reduced |
| Susquehanna Portfolio Strategies, LLC | 53,755 | $3.73M | 0.06% | +53,755 | New |
| Mariner, LLC | 53,441 | $3.71M | 0.00% | +9,200+20.8% | Added |
| Magellan Asset Management Ltd | 51,532 | $3.58M | 0.04% | +3,434+7.1% | Added |
| Midwest Trust Co | 51,412 | $3.57M | 0.04% | −2,197−4.1% | Reduced |
| John G Ullman & Associates Inc | 51,391 | $3.57M | 0.48% | −900−1.7% | Reduced |
| Mackenzie Financial Corp | 51,256 | $3.56M | 0.00% | −680−1.3% | Reduced |
| Raymond James Financial Inc | 51,111 | $3.55M | 0.00% | −39,740−43.7% | Reduced |
| D. E. Shaw & Co., Inc. | 50,920 | $3.53M | 0.00% | −74,851−59.5% | Reduced |
| Cambridge Investment Research Advisors, Inc. | 49,795 | $3.46M | 0.01% | +1,467+3.0% | Added |
| Nisa Investment Advisors, LLC | 49,687 | $3.45M | 0.01% | +2,263+4.8% | Added |
| Jump Financial, LLC | 49,600 | $3.44M | 0.04% | +49,600 | New |
| State of Wisconsin Investment Board | 48,845 | $3.39M | 0.01% | −3,352−6.4% | Reduced |
| LPL Financial LLC | 48,334 | $3.36M | 0.00% | +1,297+2.8% | Added |
| CWM, LLC | 47,974 | $3.33M | 0.01% | +5,071+11.8% | Added |
| Creative Planning | 47,750 | $3.31M | 0.00% | +10,232+27.3% | Added |
| Cozad Asset Management Inc | 47,225 | $3.28M | 0.25% | +29,026+159.5% | Added |
| Hennessy Advisors Inc | 47,147 | $3.27M | 0.12% | +300+0.6% | Added |
| Alps Advisors Inc | 46,561 | $3.23M | 0.02% | +13,841+42.3% | Added |
| Lesa Sroufe & Co | 46,257 | $3.21M | 2.39% | +424+0.9% | Added |
| Farmers & Merchants Investments Inc | 45,978 | $3.19M | 0.09% | −1,386−2.9% | Reduced |
| SummitTX Capital, L.P. | 45,773 | $3.18M | 0.10% | +45,773 | New |
| Susquehanna Fundamental Investments, LLC | 44,949 | $3.12M | 0.11% | −1,112−2.4% | Reduced |
| New York State Common Retirement Fund | 44,276 | $3.07M | 0.00% | −2,966−6.3% | Reduced |
| Great West Life Assurance Co | 43,904 | $3.05M | 0.01% | +2,106+5.0% | Added |
| AMG National Trust Bank | 43,856 | $3.04M | 0.07% | +418+1.0% | Added |
| First Manhattan Co | 42,752 | $2.97M | 0.01% | −75−0.2% | Reduced |
| Meritage Portfolio Management | 41,683 | $2.89M | 0.19% | −42,686−50.6% | Reduced |
| Riverwater Partners LLC | 41,579 | $2.89M | 1.12% | 00.0% | Unchanged |
| Hudson Bay Capital Management LP | 40,638 | $2.82M | 0.02% | +40,638 | New |
| Macquarie Group Ltd | 40,147 | $2.79M | 0.01% | −2,184,648−98.2% | Reduced |
| State of Tennessee, Treasury Department | 37,333 | $2.72M | 0.01% | +13,562+57.1% | Added |
| Brinker Capital Investments, LLC | 38,739 | $2.69M | 0.02% | −762−1.9% | Reduced |
| Ameritas Investment Partners, Inc. | 37,875 | $2.63M | 0.08% | −2,109−5.3% | Reduced |
| Allianz Asset Management GmbH | 37,811 | $2.62M | 0.00% | −3,484−8.4% | Reduced |
| Simplex Trading, LLC | 37,089 | $2.57M | 0.07% | +24,702+199.4% | Added |
| Entropy Technologies, LP | 36,160 | $2.51M | 0.14% | +27,510+318.0% | Added |
| Horizon Investments, LLC | 34,523 | $2.40M | 0.03% | +14,716+74.3% | Added |
| Mirae Asset Global ETFs Holdings Ltd. | 34,097 | $2.37M | 0.00% | +303+0.9% | Added |
| Polaris Capital Management, LLC | 33,700 | $2.34M | 0.19% | −2,700−7.4% | Reduced |
| Comerica Bank | 32,842 | $2.28M | 0.01% | +547+1.7% | Added |
| Voloridge Investment Management, LLC | 32,591 | $2.26M | 0.01% | +10,615+48.3% | Added |
| Amalgamated Bank | 31,719 | $2.20M | 0.02% | −366−1.1% | Reduced |
| State of New Jersey Common Pension Fund D | 30,685 | $2.13M | 0.01% | −4,932−13.8% | Reduced |
| DC Investments Management, LLC | 29,900 | $2.08M | 0.92% | 00.0% | Unchanged |
| Intech Investment Management LLC | 29,509 | $2.05M | 0.02% | −11,759−28.5% | Reduced |
| Advisors Asset Management, Inc. | 29,303 | $2.03M | 0.03% | +562+2.0% | Added |
| Cetera Investment Advisers | 29,251 | $2.03M | 0.00% | +779+2.7% | Added |
| BTG Pactual Asset Management US LLC | 29,102 | $2.02M | 0.22% | −4,910−14.4% | Reduced |
| Bridgeway Capital Management, LLC | 29,000 | $2.01M | 0.04% | +12,000+70.6% | Added |
| Barnett & Company, Inc. | 28,700 | $1.99M | 1.60% | +300+1.1% | Added |
| Van Eck Associates Corp | 28,202 | $1.96M | 0.00% | +1,994+7.6% | Added |
| Bollard Group LLC | 27,241 | $1.89M | 0.05% | −404−1.5% | Reduced |
| Buckley Wealth Management, LLC | 26,531 | $1.84M | 0.49% | +900+3.5% | Added |
| State Board of Administration of Florida Retirement System | 26,244 | $1.82M | 0.00% | +9,835+59.9% | Added |
| Mercer Global Advisors Inc | 26,124 | $1.81M | 0.00% | +5,525+26.8% | Added |
| Avantax Planning Partners, Inc. | 25,817 | $1.79M | 0.05% | −3,376−11.6% | Reduced |
| HITE Hedge Asset Management LLC | 25,000 | $1.74M | 0.11% | +25,000 | New |
| BNP Paribas Arbitrage, SA | 24,233 | $1.68M | 0.00% | +403+1.7% | Added |
| Convergence Investment Partners, LLC | 23,869 | $1.66M | 0.33% | −378−1.6% | Reduced |
| Yousif Capital Management, LLC | 22,290 | $1.62M | 0.02% | +134+0.6% | Added |
| Prudential Financial Inc | 23,277 | $1.62M | 0.00% | −165,632−87.7% | Reduced |
| Schonfeld Strategic Advisors LLC | 23,181 | $1.61M | 0.01% | −61,906−72.8% | Reduced |
| JustInvest LLC | 23,028 | $1.60M | 0.02% | +817+3.7% | Added |
| Sequoia Financial Advisors, LLC | 23,023 | $1.60M | 0.01% | +7,241+45.9% | Added |
| FMR LLC | 22,744 | $1.58M | 0.00% | −125,583−84.7% | Reduced |
| Capital Financial Group Inc | 21,950 | $1.52M | 0.85% | +21,950 | New |
| Citigroup Inc | 21,400 | $1.49M | 0.00% | −25,065−53.9% | Reduced |
| IMC-Chicago, LLC | 21,396 | $1.49M | 0.03% | +21,396 | New |
| Teachers Retirement System of the State of Kentucky | 21,298 | $1.48M | 0.01% | 00.0% | Unchanged |
| Pathstone Holdings, LLC | 21,034 | $1.46M | 0.01% | −1,256−5.6% | Reduced |
| Louisiana State Employees Retirement System | 20,900 | $1.45M | 0.02% | +600+3.0% | Added |
| Weiss Asset Management LP | 20,823 | $1.45M | 0.02% | +20,823 | New |
| Advisor Group Holdings, Inc. | 20,537 | $1.43M | 0.00% | +2,153+11.7% | Added |
| Arizona State Retirement System | 20,372 | $1.41M | 0.01% | −1,084−5.1% | Reduced |
| Wealth Enhancement Advisory Services, LLC | 20,093 | $1.39M | 0.00% | +4,149+26.0% | Added |
| AdvisorNet Financial, Inc | 19,955 | $1.39M | 0.07% | +20+0.1% | Added |
| Police & Firemen's Retirement System of New Jersey | 19,831 | $1.38M | 0.01% | −297−1.5% | Reduced |
| First PREMIER Bank | 18,824 | $1.31M | 0.30% | −665−3.4% | Reduced |
| Bank of Montreal | 18,424 | $1.28M | 0.00% | −10−0.1% | Reduced |
| Greenland Capital Management LP | 18,126 | $1.26M | 0.18% | −11,447−38.7% | Reduced |
| Quantinno Capital Management LP | 17,835 | $1.24M | 0.00% | +4,170+30.5% | Added |
| State of Michigan Retirement System | 17,800 | $1.24M | 0.01% | +500+2.9% | Added |
| Cornerstone Wealth Management, LLC | 17,632 | $1.22M | 0.06% | +992+6.0% | Added |
| Foundations Investment Advisors, LLC | 17,562 | $1.22M | 0.02% | +11,263+178.8% | Added |
| American Century Companies Inc | 17,506 | $1.22M | 0.00% | −1,502−7.9% | Reduced |
| Group One Trading, L.P. | 17,009 | $1.18M | 0.03% | +17,009 | New |
| Northwestern Mutual Investment Management Company, LLC | 16,886 | $1.17M | 0.01% | +647+4.0% | Added |
| CWA Asset Management Group, LLC | 16,877 | $1.17M | 0.04% | +2,626+18.4% | Added |
| Neuberger Berman Group LLC | 16,495 | $1.15M | 0.00% | +3,889+30.9% | Added |
| Quadrant Capital Group LLC | 15,972 | $1.11M | 0.03% | +340+2.2% | Added |
| Kestra Investment Management, LLC | 15,849 | $1.10M | 0.03% | −1,027−6.1% | Reduced |
| Brevan Howard Capital Management LP | 15,509 | $1.08M | 0.02% | +15,509 | New |
| Miller Howard Investments Inc | 15,357 | $1.07M | 0.03% | +1,217+8.6% | Added |
| D.A. Davidson & Co. | 15,327 | $1.06M | 0.01% | −796−4.9% | Reduced |
| Sterling Capital Management LLC | 15,323 | $1.06M | 0.02% | −494−3.1% | Reduced |
| Exchange Traded Concepts, LLC | 15,201 | $1.06M | 0.01% | +1,676+12.4% | Added |
| Oregon Public Employees Retirement Fund | 15,122 | $1.05M | 0.01% | +500+3.4% | Added |