BLACK HILLS CORP /SD/ - Common Stock (BKH) Institutional Ownership

13F Institutional Holders and Ownership History from Q1 2014 to Q4 2025

Type / Class
Equity / Common Stock
Symbol
BKH on NYSE
Shares outstanding
72,072,055
Price per share
$69.42
All holders as of 30 Sep 2025
Q3 2025
Total 13F shares
65,466,835
Total reported value
$4,032,088,809
% of total 13F portfolios
0%
Share change
+4,446,740
Value change
+$281,319,119
Number of holders
422
Price from insider filings
$69.42
Reported Shares, Excluding Options vs Price
Reported Value, Excluding Options
Total Investors

Significant Owners of BLACK HILLS CORP /SD/ - Common Stock (BKH) based on Schedule 13D/G filings

Filer Ownership Change % Holdings Value Net Change Nb Shares Change % Reporting Name Report Period
BlackRock, Inc. 15% -9.4% $633,771,380 -$58,900,844 10,522,520 -8.5% BlackRock, Inc. 31 Mar 2025

As of 30 Sep 2025, 422 institutional investors reported holding 65,466,835 shares of BLACK HILLS CORP /SD/ - Common Stock (BKH). This represents 91% of the company’s total 72,072,055 outstanding shares.

Top 25 Institutional Shareholders

The largest institutional shareholders of BLACK HILLS CORP /SD/ - Common Stock (BKH) together control 66% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.

Institution Ownership % Shares Held Share Change % Portfolio % Holdings Value
BlackRock, Inc. 16% 11,336,083 +0.13% 0.01% $698,189,371
VANGUARD GROUP INC 12% 8,990,841 +2.6% 0.01% $553,745,897
STATE STREET CORP 5.3% 3,837,014 -0.12% 0.01% $236,321,692
MACQUARIE GROUP LTD 3.1% 2,224,795 -7.2% 0.16% $137,025,263
GEODE CAPITAL MANAGEMENT, LLC 2.6% 1,839,307 +0.93% 0.01% $113,304,219
Capital Research Global Investors 2.3% 1,641,122 0% 0.02% $101,076,704
AQR CAPITAL MANAGEMENT LLC 1.9% 1,374,050 +53% 0.05% $84,627,769
FULLER & THALER ASSET MANAGEMENT, INC. 1.8% 1,325,970 -0.21% 0.28% $81,666,475
Nuveen, LLC 1.8% 1,269,990 +24% 0.02% $78,218,684
CHARLES SCHWAB INVESTMENT MANAGEMENT INC 1.7% 1,200,635 -0.44% 0.01% $73,947,110
COHEN & STEERS, INC. 1.6% 1,176,624 0.13% $72,468,000
Zimmer Partners, LP 1.5% 1,100,020 +2100% 1.7% $67,750,232
DIMENSIONAL FUND ADVISORS LP 1.5% 1,099,293 +2% 0.01% $67,703,638
NORTHERN TRUST CORP 1.3% 957,493 -0.55% 0.01% $58,971,994
GOLDMAN SACHS GROUP INC 1.3% 937,390 +58% 0.01% $57,733,831
JANE STREET GROUP, LLC 1.3% 925,749 +806% 0.07% $57,016,881
FIRST TRUST ADVISORS LP 1.2% 870,973 -2.5% 0.04% $53,643,192
Bank of New York Mellon Corp 1.2% 853,836 -1.6% 0.01% $52,587,757
Invesco Ltd. 1.1% 818,348 +4.4% 0.01% $50,402,033
ProShare Advisors LLC 1% 736,014 +11% 0.09% $45,331,103
VICTORY CAPITAL MANAGEMENT INC 1% 727,443 +2.8% 0.03% $44,803,215
Balyasny Asset Management L.P. 0.92% 664,080 +10853% 0.08% $40,900,687
MORGAN STANLEY 0.86% 618,653 -2.9% 0% $38,102,881
JPMORGAN CHASE & CO 0.86% 618,131 +68% 0% $38,070,688
FRANKLIN RESOURCES INC 0.8% 576,726 -45% 0.01% $35,520,554

Institutional Holders of BLACK HILLS CORP /SD/ - Common Stock (BKH) across Reporting Periods

Period Reported Shares, Excl. Options Value, Excl. Options Value Change Price (Median) Investors
2025 Q4 1,008,265 $70,002,123 +$9,209,830 $69.42 39
2025 Q3 65,466,835 $4,032,088,809 +$281,319,119 $61.59 422
2025 Q2 61,032,595 $3,423,946,361 -$12,756,550 $56.10 410
2025 Q1 61,262,004 $3,715,181,285 +$55,130,573 $60.65 411
2024 Q4 60,714,508 $3,552,998,477 +$23,135,588 $58.52 394
2024 Q3 60,456,790 $3,694,269,237 +$77,787,380 $61.12 388
2024 Q2 59,069,102 $3,212,176,545 -$22,991,983 $54.38 371
2024 Q1 59,413,073 $3,244,059,121 +$12,499,751 $54.60 390
2023 Q4 59,095,030 $3,188,134,694 +$54,721,615 $53.95 362
2023 Q3 58,103,513 $2,939,565,325 -$7,121,759 $50.59 340
2023 Q2 58,143,765 $3,504,000,284 +$30,403,781 $60.26 327
2023 Q1 57,596,582 $3,634,232,965 -$94,872,947 $63.10 326
2022 Q4 59,234,402 $4,162,544,070 +$67,397,051 $70.34 319
2022 Q3 58,001,602 $3,928,885,125 +$49,932,408 $67.73 316
2022 Q2 56,713,521 $4,127,121,695 -$5,479,975 $72.77 336
2022 Q1 57,346,885 $4,410,417,341 +$115,876,348 $77.02 319
2021 Q4 55,414,358 $3,909,751,043 +$11,748,206 $70.57 315
2021 Q3 55,116,014 $3,460,200,686 -$17,532,424 $62.76 286
2021 Q2 55,449,007 $3,640,618,026 +$67,285,116 $65.63 279
2021 Q1 54,441,787 $3,635,446,760 +$16,806,764 $66.77 289
2020 Q4 54,114,963 $3,325,272,693 +$37,409,904 $61.45 285
2020 Q3 53,538,910 $2,865,423,396 -$17,749,838 $53.49 282
2020 Q2 53,814,533 $3,055,624,490 +$401,508 $56.66 288
2020 Q1 53,828,549 $3,445,546,807 +$51,768,948 $64.03 290
2019 Q4 52,899,671 $4,154,346,257 -$6,935,233 $78.54 302
2019 Q3 53,160,963 $4,078,793,032 -$52,896,737 $76.73 304
2019 Q2 53,833,294 $4,207,471,388 +$148,997,558 $78.17 303
2019 Q1 52,593,728 $3,895,413,674 +$11,325,083 $74.07 296
2018 Q4 52,571,982 $3,300,385,066 +$9,740,259 $62.78 287
2018 Q3 52,450,043 $3,047,170,394 -$61,037,061 $58.09 266
2018 Q2 53,436,012 $3,270,768,976 +$55,962,179 $61.21 268
2018 Q1 52,820,634 $2,868,091,182 +$13,639,358 $54.30 256
2017 Q4 52,414,449 $3,149,950,191 +$54,979,810 $60.11 252
2017 Q3 50,795,243 $3,498,159,250 +$57,988,184 $68.87 244
2017 Q2 50,077,042 $3,378,833,159 +$34,587,044 $67.47 242
2017 Q1 50,530,123 $3,358,556,146 +$691,636,685 $66.47 239
2016 Q4 48,346,413 $2,965,524,224 +$16,024,275 $61.34 237
2016 Q3 47,801,126 $2,926,266,222 +$116,773,917 $61.22 239
2016 Q2 46,390,757 $2,924,250,920 +$10,476,079 $63.04 251
2016 Q1 46,192,620 $2,777,814,604 +$154,040,768 $60.13 244
2015 Q4 43,886,839 $2,037,704,906 +$452,835,364 $46.43 221
2015 Q3 34,218,204 $1,415,901,952 +$41,275,475 $41.34 213
2015 Q2 33,245,864 $1,451,166,855 +$11,963,267 $43.65 201
2015 Q1 32,924,095 $1,660,792,332 +$2,486,920 $50.44 207
2014 Q4 32,690,534 $1,733,719,342 +$32,352,389 $53.04 207
2014 Q3 32,923,035 $1,576,363,763 +$22,104,057 $47.88 211
2014 Q2 32,395,105 $1,987,781,346 +$30,678,459 $61.39 213
2014 Q1 31,930,191 $1,840,684,710 +$43,416,520 $57.65 216