Black Hills Corporation
Black Hills Corporation (BKH) Stock Ownership
Institutional vs insider vs public ownership from 13F and float data — top holders, activity, and insider trades below.
SEC 13F · FMP · BKH · as of Sep 30, 2025
Ownership Breakdown
437
Institutional Holders
▲ 17 vs Q2
$4.03B
Total Inst. Value
▲ $607.56M vs Q2
76.13M
Shares Outstanding
freeFloat 99.47%
65.48M
13F Shares Held
▲ 3.98M vs Q2
Institutional ownership = 13F shares ÷ total outstanding. Insider % = 100 − free float. Public % = free float − institution %. Data: FMP /symbol-positions-summary + /shares-float + SEC EDGAR.
Top Institutional Holders
BKH largest shareholders · institutional ownership
Q3 2025 · SEC 13F
Showing top 10 holders
| Holder | Shares | % Owned | Weight | Value | Reported | Change |
|---|---|---|---|---|---|---|
BLACKROCK, INC. electric services | 11.34M | 15.66% | 15.66% | $698.19B | Nov 12, 2025 | ▲ 14.2K |
VANGUARD GROUP INC electric services | 8.99M | 12.42% | 12.42% | $553.75B | Nov 7, 2025 | ▲ 225.6K |
STATE STREET CORP electric services | 3.84M | 5.30% | 5.30% | $236.32B | Nov 14, 2025 | ▼ 4.6K |
MACQUARIE GROUP LTD electric services | 2.22M | 3.07% | 3.07% | $137.03B | Nov 13, 2025 | ▼ 173.5K |
GEODE CAPITAL MANAGEMENT, LLC electric services | 1.84M | 2.54% | 2.54% | $113.30B | Nov 12, 2025 | ▲ 17.0K |
CAPITAL RESEARCH GLOBAL INVESTORS electric services | 1.64M | 2.27% | 2.27% | $101.08B | Nov 13, 2025 | — held |
AQR CAPITAL MANAGEMENT LLC electric services | 1.37M | 1.90% | 1.90% | $84.63B | Nov 14, 2025 | ▲ 474.9K |
FULLER & THALER ASSET MANAGEMENT, INC. electric services | 1.33M | 1.83% | 1.83% | $81.67B | Nov 13, 2025 | ▼ 2.8K |
NUVEEN, LLC electric services | 1.27M | 1.75% | 1.75% | $78.22B | Nov 12, 2025 | ▲ 244.5K |
CHARLES SCHWAB INVESTMENT MANAGEMENT INC electric services | 1.20M | 1.66% | 1.66% | $73.95B | Nov 10, 2025 | ▼ 5.3K |
Data from SEC Form 13F filings. Ownership bar normalised to largest holder. Change flags: isNew / isSoldOut / changeInSharesNumber (FMP extract-analytics/holder).
Institutional Activity
Q3 2025 vs prior quarter
Q3 2025
26
Increased
+6.20M shares2
New Positions
first time holders19
Decreased
−972.7K shares0
Sold Out
fully exitedNet shares change (top 50)
+5.23M
+6.20M / −972.7K
Net new holders
+9
2 new / 0 exited
Based on top 50 institutional holders by position size. Fields: isNew, isSoldOut, changeInSharesNumber (FMP extract-analytics/holder, limit=50).
Insider Buying vs Selling
BKH insider trading · insider activity
Source: SEC Form 4
Insiders have been primarily selling shares recently. Selling may be driven by pre-scheduled Rule 10b5-1 plans rather than negative sentiment.
9
Buy transactions
1
Sell transactions
9.00
Buy/Sell ratio
$0M
Total disposed
Recent Insider Transactions
Showing 10 most recent · Common Stock only
| Name · Role | Date | Type | Shares | Price | Value | After Trans. | Filing |
|---|---|---|---|---|---|---|---|
Otto Robert P director | May 27, 2026 | Sale | 4,109 | $74.22 | $305.0K | 10.9K | Form 4 ↗ |
Waleski Anne G director | May 1, 2026 | Award | 1,921 | — | — | 4.2K | Form 4 ↗ |
Taylor Teresa director | May 1, 2026 | Award | 1,921 | — | — | 13.6K | Form 4 ↗ |
Prochazka Scott M director | May 1, 2026 | Award | 1,921 | — | — | 11.7K | Form 4 ↗ |
Otto Robert P director | May 1, 2026 | Award | 1,921 | — | — | 15.0K | Form 4 ↗ |
MILLS STEVEN RICHARD director | May 1, 2026 | Award | 1,921 | — | — | 29.6K | Form 4 ↗ |
McAllister Kathleen S director | May 1, 2026 | Award | 1,921 | — | — | 16.5K | Form 4 ↗ |
Jensen Tony A director | May 1, 2026 | Award | 1,921 | — | — | 18.1K | Form 4 ↗ |
Granger Barry M director | May 1, 2026 | Award | 1,921 | — | — | 11.7K | Form 4 ↗ |
Beard Robert F. director | May 1, 2026 | Award | 1,921 | — | — | 4.2K | Form 4 ↗ |
Source: /insider-trading/search (FMP stable). Buy/Sell direction: acquisitionOrDisposition A=Buy, D=Sell. RSU vesting (M-Exempt) excluded from sentiment bar. All data from SEC EDGAR public filings.
About institutional & insider ownership
Black Hills Corporation (BKH) is primarily owned by institutional investors, who hold approximately 86.0% of total shares outstanding. Company insiders own approximately 0.53%, while retail and public investors account for the remaining 13.45%.
The largest institutional shareholder of Black Hills Corporation is BLACKROCK, INC., holding approximately 11.34 million shares — equal to 15.66% of outstanding shares — as of September 30, 2025.
A total of 437 institutional investors currently hold BKH stock, with a combined institutional value of approximately $4.03 billion as of the most recent 13F filing period.
Frequently asked questions
BKH ownershipBlack Hills Corporation (BKH) is primarily owned by institutional investors, who hold approximately 86.0% of shares. The largest shareholder is BLACKROCK, INC. with a 15.66% stake. Company insiders hold 0.53%. Data sourced from SEC Form 13F as of September 30, 2025.