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 |
|---|---|---|---|---|---|
| Lazard Asset Management LLC | 15,034 | $1.04M | 0.00% | −6,318−29.6% | Reduced |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 14,952 | $1.04M | 0.00% | +996+7.1% | Added |
| Dark Forest Capital Management LP | 14,593 | $1.01M | 0.05% | −85,410−85.4% | Reduced |
| Edgestream Partners, L.P. | 13,775 | $956.3K | 0.03% | +13,775 | New |
| Captrust Financial Advisors | 13,760 | $955.2K | 0.00% | +1,580+13.0% | Added |
| The PNC Financial Services Group, Inc. | 13,480 | $935.8K | 0.00% | +111+0.8% | Added |
| New Mexico Educational Retirement Board | 13,306 | $924.0K | 0.03% | 00.0% | Unchanged |
| Eagle Global Advisors LLC | 12,830 | $890.7K | 0.03% | −5,910−31.5% | Reduced |
| Burford Brothers, Inc. | 12,683 | $880.5K | 0.36% | −3,984−23.9% | Reduced |
| Smith, Moore & Co. | 12,642 | $877.6K | 0.07% | −35−0.3% | Reduced |
| Roehl & Yi Investment Advisors, LLC | 12,503 | $868.0K | 0.35% | −40−0.3% | Reduced |
| Quest Partners LLC | 12,384 | $859.7K | 0.05% | −9,594−43.7% | Reduced |
| Natixis Advisors, L.P. | 12,364 | $858.0K | 0.00% | −295−2.3% | Reduced |
| Oakmont Investment Advisors, Inc. | 12,270 | $851.8K | 0.62% | +12,270 | New |
| Icon Advisers Inc | 12,237 | $849.5K | 0.18% | 00.0% | Unchanged |
| Hantz Financial Services, Inc. | 12,126 | $842.0K | 0.01% | +360+3.1% | Added |
| Commonwealth Equity Services, LLC | 12,054 | $836.8K | 0.00% | +1,383+13.0% | Added |
| Parallax Volatility Advisers, L.P. | 11,937 | $828.7K | 0.03% | +11,937 | New |
| Landscape Capital Management, L.L.C. | 11,787 | $818.3K | 0.05% | −5,700−32.6% | Reduced |
| Quantbot Technologies LP | 11,473 | $796.5K | 0.03% | +2,730+31.2% | Added |
| Uncommon Cents Investing LLC | 11,405 | $791.7K | 0.19% | +300+2.7% | Added |
| Huber Capital Management LLC | 11,215 | $778.5K | 0.11% | −1,551−12.1% | Reduced |
| Pictet Asset Management Holding SA | 11,020 | $765.0K | 0.00% | +3,644+49.4% | Added |
| RSM US Wealth Management LLC | 10,943 | $761.5K | 0.01% | −1,376−11.2% | Reduced |
| O'Shaughnessy Asset Management, LLC | 10,928 | $758.6K | 0.00% | +998+10.1% | Added |
| Bahl & Gaynor Inc | 10,850 | $753.2K | 0.00% | 00.0% | Unchanged |
| Aquatic Capital Management LLC | 10,807 | $750.2K | 0.02% | +10,807 | New |
| Fox Run Management, L.L.C. | 10,777 | $748.1K | 0.12% | −1,329−11.0% | Reduced |
| CWM Advisors, LLC | 9,906 | $687.7K | 0.06% | +2,559+34.8% | Added |
| State of Alaska, Department of Revenue | 9,773 | $678.0K | 0.01% | −267−2.7% | Reduced |
| Lighthouse Investment Partners, LLC | 9,588 | $665.6K | 0.02% | 00.0% | Unchanged |
| US Bancorp | 9,470 | $657.4K | 0.00% | −21,056−69.0% | Reduced |
| Eagle Harbor Asset Management Inc | 9,456 | $656.5K | 0.55% | +116+1.2% | Added |
| Meeder Advisory Services, Inc. | 9,192 | $638.1K | 0.03% | +145+1.6% | Added |
| Guggenheim Capital LLC | 9,187 | $637.8K | 0.00% | −3,088−25.2% | Reduced |
| Navellier & Associates Inc | 9,008 | $625.3K | 0.07% | −2,010−18.2% | Reduced |
| Xponance, Inc. | 8,961 | $622.1K | 0.00% | −1,290−12.6% | Reduced |
| Pacer Advisors, Inc. | 8,865 | $615.4K | 0.00% | −8,516−49.0% | Reduced |
| Atria Investments LLC | 8,770 | $608.8K | 0.01% | +1,590+22.1% | Added |
| EP Wealth Advisors, LLC | 8,719 | $605.3K | 0.00% | +8,719 | New |
| Colony Group, LLC | 8,687 | $603.1K | 0.00% | +3,415+64.8% | Added |
| Inspire Advisors, LLC | 8,567 | $594.7K | 0.05% | +8,567 | New |
| Summit Global Investments | 8,166 | $567.0K | 0.03% | −10,736−56.8% | Reduced |
| MML Investors Services, LLC | 8,097 | $562.1K | 0.00% | +2,961+57.7% | Added |
| CSS LLC | 8,037 | $557.9K | 0.03% | −4,211−34.4% | Reduced |
| Assetmark, Inc | 7,880 | $547.0K | 0.00% | +24+0.3% | Added |
| STRS Ohio | 7,800 | $541.5K | 0.00% | 00.0% | Unchanged |
| Sumitomo Mitsui Trust Holdings, Inc. | 7,636 | $530.1K | 0.00% | +7,636 | New |
| Clear Creek Financial Management, LLC | 7,417 | $514.9K | 0.04% | +1,035+16.2% | Added |
| Arkadios Wealth Advisors | 7,407 | $514.2K | 0.01% | +172+2.4% | Added |
| HSBC Holdings PLC | 7,268 | $504.5K | 0.00% | −1,065−12.8% | Reduced |
| QP Wealth Management, LLC | 7,089 | $492.1K | 0.43% | +7,089 | New |
| SG Americas Securities, LLC | 7,035 | $488.0K | 0.00% | +3,430+95.1% | Added |
| Harbor Capital Advisors, Inc. | 7,002 | $486.0K | 0.04% | +654+10.3% | Added |
| IFP Advisors, Inc | 6,918 | $480.2K | 0.01% | +183+2.7% | Added |
| Vise Technologies, Inc. | 6,883 | $477.8K | 0.01% | +829+13.7% | Added |
| Massar Capital Management, LP | 6,844 | $475.1K | 0.09% | +6,844 | New |
| Kestra Advisory Services, LLC | 6,825 | $473.8K | 0.00% | +105+1.6% | Added |
| Daiwa Securities Group Inc. | 6,655 | $462.0K | 0.00% | −1,238−15.7% | Reduced |
| Moors & Cabot, Inc. | 6,479 | $449.8K | 0.02% | 00.0% | Unchanged |
| Private Advisor Group, LLC | 6,386 | $443.3K | 0.00% | 00.0% | Unchanged |
| Abel Hall, LLC | 6,335 | $439.8K | 0.10% | +6,335 | New |
| Mission Wealth Management, LP | 6,216 | $431.5K | 0.01% | +228+3.8% | Added |
| AssuredPartners Investment Advisors, LLC | 6,088 | $422.6K | 0.06% | +6,088 | New |
| Swiss Life Asset Management Ltd | 6,059 | $420.6K | 0.00% | +2,713+81.1% | Added |
| Merit Financial Group, LLC | 5,869 | $407.4K | 0.00% | +2,098+55.6% | Added |
| NBC Securities, Inc. | 5,852 | $406.2K | 0.03% | +339+6.1% | Added |
| Intrua Financial, LLC | 5,845 | $405.8K | 0.04% | −3,482−37.3% | Reduced |
| Public Employees Retirement Association of Colorado | 5,801 | $403.0K | 0.00% | 00.0% | Unchanged |
| United Capital Financial Advisers, LLC | 5,516 | $382.9K | 0.00% | +5,516 | New |
| Securian Asset Management, Inc | 5,500 | $381.8K | 0.01% | +78+1.4% | Added |
| Monarch Capital Management Inc | 5,485 | $380.8K | 0.09% | 00.0% | Unchanged |
| First National Bank Sioux Falls | 5,483 | $380.6K | 0.11% | 00.0% | Unchanged |
| Buckingham Strategic Partners | 5,418 | $376.1K | 0.00% | −407−7.0% | Reduced |
| M&T Bank Corp | 5,126 | $356.3K | 0.00% | +878+20.7% | Added |
| Pinnacle West Asset Management, Inc. | 5,130 | $356.0K | 0.23% | −75−1.4% | Reduced |
| Baird Financial Group, Inc. | 5,096 | $353.8K | 0.00% | +225+4.6% | Added |
| Journey Strategic Wealth LLC | 5,056 | $351.0K | 0.01% | +393+8.4% | Added |
| Horizon Investment Services, LLC | 5,044 | $350.2K | 0.13% | +5,044 | New |
| Los Angeles Capital Management LLC | 5,438 | $346.1K | 0.00% | −913−14.4% | Reduced |
| Platform Technology Partners | 4,945 | $343.3K | 0.07% | 00.0% | Unchanged |
| HB Wealth Management, LLC | 4,890 | $339.5K | 0.00% | +1,090+28.7% | Added |
| CIBC World Markets Corp | 4,864 | $337.7K | 0.00% | +4,864 | New |
| CI Private Wealth, LLC | 4,804 | $333.8K | 0.00% | +204+4.4% | Added |
| Ruggaard & Associates LLC | 4,649 | $322.7K | 0.13% | 00.0% | Unchanged |
| BIP Wealth, LLC | 4,560 | $316.6K | 0.01% | +4,560 | New |
| Regions Financial Corp | 4,546 | $315.6K | 0.00% | 00.0% | Unchanged |
| Hancock Whitney Corp | 4,544 | $315.4K | 0.01% | +4,544 | New |
| Jones Financial Companies LLLP | 4,525 | $314.1K | 0.00% | +1,134+33.4% | Added |
| Teacher Retirement System of Texas | 4,432 | $307.7K | 0.00% | −6,796−60.5% | Reduced |
| NorthCrest Asset Manangement, LLC | 4,348 | $301.6K | 0.01% | +549+14.5% | Added |
| Sivia Capital Partners, LLC | 4,258 | $295.6K | 0.06% | +4,258 | New |
| Ballentine Partners, LLC | 4,215 | $292.6K | 0.00% | +33+0.8% | Added |
| Covestor Ltd | 4,197 | $292.0K | 0.15% | +3,869+1,179.6% | Added |
| Evergreen Capital Management LLC | 4,084 | $283.5K | 0.01% | −13−0.3% | Reduced |
| Syon Capital LLC | 4,069 | $282.5K | 0.01% | +10+0.2% | Added |
| Evolve Private Wealth, LLC | 4,015 | $278.7K | 0.02% | +4,015 | New |
| Tower Research Capital LLC (TRC) | 3,985 | $276.6K | 0.01% | −2,257−36.2% | Reduced |
| Rexford Capital Inc | 3,962 | $275.0K | 0.21% | 00.0% | Unchanged |
| nVerses Capital, LLC | 3,944 | $273.8K | 0.61% | +3,944 | New |