Security Snapshot

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

CUSIP: 092113109

13F Institutional Holders and Ownership History from Q1 2014 to Q1 2026

Latest Period

Q4 2025

Institutions Reporting

454

Shares (Excl. Options)

72,293,603

Price

$69.42

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Type / Class
Equity / Common Stock
Symbol
BKH on NYSE
Shares outstanding
76,137,778
Price per share
$73.80
All holders as of 31 Dec 2025
Q4 2025
Total 13F shares
72,293,603
Total reported value
$5,018,771,213
% of total 13F portfolios
0.01%
Share change
+4,216,947
Value change
+$305,805,853
Number of holders
454
Price from insider filings
$73.80
Reported Shares, Excluding Options vs Price
Reported Value, Excluding Options
Total Investors

Quick Takeaways

  • BKH - BLACK HILLS CORP /SD/ - Common Stock is tracked under CUSIP 092113109.
  • 454 institutions reported positions in Q4 2025.
  • 3 significant owners is listed from Schedule 13D/13G reporting.

What Changed

  • Holder count moved from 454 to 146 between Q4 2025 and Q1 2026.
  • Reported value moved from $5,018,771,213 to $347,119,214.

Why This Matters

  • You can quickly see who holds this security, then open quarter and manager detail pages for full evidence.
  • 13F and Schedule 13D/13G sections are kept together so you can cross-check institutional and beneficial ownership context.

Source Evidence

Source: SEC Form 13F

Latest holder context comes from 454 institutions filings for Q4 2025.

Open SEC Evidence

Investment Quick Answers

What is CUSIP 092113109?
CUSIP 092113109 identifies BKH - BLACK HILLS CORP /SD/ - Common Stock in SEC 13F datasets.

Where can I see the latest institutional holders?
Review the Q4 2025 holders report and the ownership history table below.

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
VANGUARD PORTFOLIO MANAGEMENT LLC 6.7% $351,849,285 5,069,144 Vanguard Portfolio Management 31 Mar 2026
VANGUARD CAPITAL MANAGEMENT LLC 5.2% $275,862,549 3,974,392 Vanguard Capital Management 31 Mar 2026

As of 31 Dec 2025, 454 institutional investors reported holding 72,293,603 shares of BLACK HILLS CORP /SD/ - Common Stock (BKH). This represents 95% of the company’s total 76,137,778 outstanding shares.

Top 25 Institutional Shareholders

The largest institutional shareholders of BLACK HILLS CORP /SD/ - Common Stock (BKH) together control 70% 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% 12,138,305 +7.1% 0.01% $842,641,139
VANGUARD GROUP INC 12% 8,974,122 -0.19% 0.01% $622,983,548
STATE STREET CORP 5% 3,780,111 -1.5% 0.01% $262,415,306
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 3.5% 2,655,062 0% 0.28% $184,314,876
Capital Research Global Investors 3% 2,275,922 +39% 0.03% $157,994,505
Covalis Capital LLP 2.7% 2,057,160 11% $142,808,047
GEODE CAPITAL MANAGEMENT, LLC 2.5% 1,894,539 +3% 0.01% $131,547,811
Point72 Asset Management, L.P. 2.5% 1,875,221 +12698% 0.2% $130,177,842
ADAGE CAPITAL PARTNERS GP, L.L.C. 2.1% 1,592,000 +177% 0.17% $110,516,640
AQR CAPITAL MANAGEMENT LLC 1.9% 1,418,384 +3.2% 0.05% $98,464,193
COHEN & STEERS, INC. 1.8% 1,385,759 +18% 0.17% $96,199,000
Nuveen, LLC 1.6% 1,230,205 -3.1% 0.02% $85,400,830
CHARLES SCHWAB INVESTMENT MANAGEMENT INC 1.6% 1,191,648 -0.75% 0.01% $82,724,204
TWO SIGMA INVESTMENTS, LP 1.5% 1,176,944 +124% 0.12% $81,703,452
DIMENSIONAL FUND ADVISORS LP 1.5% 1,123,163 +2.2% 0.02% $77,970,564
TWO SIGMA ADVISERS, LP 1.3% 978,200 +740% 0.13% $67,906,644
GOLDMAN SACHS GROUP INC 1.3% 967,603 +3.2% 0.01% $67,171,029
NORTHERN TRUST CORP 1.2% 918,827 -4% 0.01% $63,784,970
Engineers Gate Manager LP 1.1% 849,073 +17790% 0.7% $58,942,648
FRANKLIN RESOURCES INC 1.1% 832,727 +44% 0.01% $57,807,908
FULLER & THALER ASSET MANAGEMENT, INC. 1.1% 800,458 -40% 0.19% $55,567,813
Bank of New York Mellon Corp 1% 789,678 -7.5% 0.01% $54,819,468
FIRST TRUST ADVISORS LP 0.96% 728,943 -16% 0.04% $50,603,226
VICTORY CAPITAL MANAGEMENT INC 0.93% 706,327 -2.9% 0.03% $49,033,220
Invesco Ltd. 0.8% 609,706 -25% 0.01% $42,325,768

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
2026 Q1 5,003,942 $347,119,214 +$9,747,466 $69.41 146
2025 Q4 72,293,603 $5,018,771,213 +$305,805,853 $69.42 454
2025 Q3 65,462,774 $4,031,839,521 +$283,173,373 $61.59 426
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
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