Black Hills Corp (BKH) shareholders
BKHNYSEElectric ServicesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 10/308% above fair value
$86.70−0.83 (-0.95%)
Close on Nov 13, 2026Market cap $6.61BP/E 20.8Yield 3.12%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
79M of 76M shares
Institutional holders
476
59 new, 52 sold out
Net institutional buying
2M
In Q2 2026
Insider trades, 12 months
0 buys · 1 sales
Net sold $304.97K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 10,522,520 | 14.60% | 13G (passive) amendment | Mar 31, 2025 |
| Vanguard Portfolio Management | 5,069,144 | 6.66% | 13G (passive) | Mar 31, 2026 |
| Vanguard Capital Management | 3,974,392 | 5.22% | 13G (passive) | Mar 31, 2026 |
| State Street Corporation | 3,806,682 | 5.00% | 13G (passive) | Sep 30, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of BKH | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 12,482,189 | 16.37% | $928.67M | +352,531 | 0.01% |
| Vanguard Portfolio Management LLC | 5,141,103 | 6.74% | $382.50M | +101,233 | 0.02% |
| State Street Corp | 3,819,510 | 5.01% | $284.17M | +198,954 | 0.01% |
| Vanguard Capital Management LLC | 3,428,442 | 4.50% | $255.08M | +58,854 | 0.01% |
| Nomura Asset Management International Inc. | 2,496,967 | 3.27% | $185.77M | −182,225 | 0.28% |
| Aqr Capital Management LLC | 2,232,003 | 2.93% | $166.06M | +636,408 | 0.06% |
| Point72 Asset Management, L.P. | 2,161,197 | 2.83% | $160.79M | +217,982 | 0.18% |
| Geode Capital Management, LLC | 2,131,386 | 2.80% | $158.61M | +136,571 | 0.01% |
| Franklin Resources Inc | 1,963,191 | 2.57% | $146.06M | +386,820 | 0.03% |
| Capital Research Global Investors | 1,825,961 | 2.39% | $135.85M | −449,961 | 0.02% |
| Two Sigma Investments, LP | 1,663,178 | 2.18% | $123.74M | −552,825 | 0.09% |
| Cohen & Steers, Inc. | 1,607,981 | 2.11% | $119.63M | +339,707 | 0.19% |
| Covalis Capital LLP | 1,481,404 | 1.94% | $110.22M | −271,442 | 6.22% |
| Engineers Gate Manager LP | 1,442,064 | 1.89% | $107.29M | +379,211 | 1.39% |
| Goldman Sachs Group Inc | 1,431,217 | 1.88% | $106.48M | −153,308 | 0.01% |
| Citadel Advisors LLC | 1,259,693 | 1.65% | $93.72M | +356,679 | 0.01% |
| Charles Schwab Investment Management Inc | 1,213,841 | 1.59% | $90.31M | −2,510 | 0.01% |
| Adage Capital Partners Gp, L.L.C. | 1,185,024 | 1.55% | $88.17M | −884,803 | 0.12% |
| Dimensional Fund Advisors LP | 1,171,138 | 1.54% | $87.14M | +29,866 | 0.02% |
| Invesco Ltd. | 1,170,367 | 1.53% | $87.08M | +109,704 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 476 | 79M | 100.0% | 59 / 202 | 133 / 52 | 8M | 5M |
| Q1 2026 | 476 | 77M | 100.0% | 67 / 185 | 141 / 44 | 19M | 6M |
| Q4 2025 | 461 | 73M | 96.2% | 80 / 175 | 137 / 43 | 16M | 9M |
| Q3 2025 | 432 | 66M | 86.8% | 64 / 163 | 133 / 39 | 10M | 6M |
| Q2 2025 | 413 | 61M | 80.6% | 51 / 171 | 128 / 47 | 4M | 4M |
| Q1 2025 | 413 | 62M | 80.8% | 58 / 163 | 126 / 41 | 4M | 3M |
| Q4 2024 | 400 | 61M | 79.9% | 48 / 157 | 125 / 34 | 5M | 4M |
| Q3 2024 | 394 | 61M | 80.2% | 57 / 149 | 122 / 33 | 15M | 3M |
| Q2 2024 | 375 | 59M | 77.9% | 33 / 166 | 116 / 47 | 3M | 6M |
| Q1 2024 | 394 | 62M | 81.8% | 64 / 163 | 115 / 32 | 7M | 5M |
| Q4 2023 | 365 | 60M | 79.3% | 71 / 134 | 107 / 45 | 7M | 5M |
| Q3 2023 | 343 | 58M | 76.2% | 45 / 118 | 125 / 32 | 6M | 6M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
405 funds held BKH in Q2 2026, 59% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of BKH | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Mid-Cap ETF | 2,606,309 | 3.42% | $193.91M | 0.16% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 2,415,730 | 3.17% | $179.73M | 0.01% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,997,205 | 2.62% | $148.59M | 0.18% | Jun 30, 2026 |
| SMALLCAP World Fund Inc | 1,777,821 | 2.33% | $132.27M | 0.14% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 1,746,570 | 2.29% | $129.94M | 0.07% | Jun 30, 2026 |
| iShares Select Dividend ETF | 1,453,424 | 1.91% | $103.50M | 0.44% | Jul 31, 2026 |
| Vanguard Small-Cap Value Index Fund | 1,105,970 | 1.45% | $82.28M | 0.12% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 872,981 | 1.14% | $64.95M | 0.07% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 850,986 | 1.12% | $60.60M | 0.18% | Jul 31, 2026 |
| State Street(R) SPDR(R) S&P(R) Dividend ETF | 732,839 | 0.96% | $54.52M | 0.25% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 730,525 | 0.96% | $54.35M | 0.37% | Jun 30, 2026 |
| Nomura Small Cap Core Fund | 661,734 | 0.87% | $48.19M | 0.87% | May 29, 2026 |
| Vanguard Strategic Equity Fund | 648,816 | 0.85% | $48.27M | 0.40% | Jun 30, 2026 |
| Undiscovered Managers Behavioral Value Fund | 603,996 | 0.79% | $44.94M | 0.50% | Jun 30, 2026 |
| Franklin Small Cap Value Fund | 559,911 | 0.73% | $39.87M | 0.93% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Linden R. Evans | President and CEO | 176,995 | 0.23% | Feb 18, 2026 |
| Marne M. Jones | SVP - Utilities | 38,667 | 0.05% | Feb 13, 2026 |
| Kimberly F. Nooney | SVP & CFO | 38,696 | 0.05% | Feb 13, 2026 |
| Sarah Wiltse | SVP and CHRO | 7,532 | 0.01% | Feb 10, 2026 |
| Darren T. Nakata | Chief Legal Officer | 7,495 | 0.01% | Feb 10, 2026 |
| Donald Lee Redden JR | CITO | 6,910 | 0.01% | Feb 10, 2026 |
| Keller D. Erik | Sr VP Chief Info Officer | 10,565 | 0.01% | Feb 14, 2025 |
| Phillip A. Casey | SVP and CLO | 6,797 | 0.01% | Feb 10, 2025 |
| Robert P. Otto | Director | 10,886 | 0.01% | May 28, 2026 |
| Steven Richard Mills | Director | 29,622 | 0.04% | May 4, 2026 |
| Kathleen S. McAllister | Director | 16,529 | 0.02% | May 4, 2026 |
| Tony A. Jensen | Director | 18,118 | 0.02% | May 4, 2026 |
| Robert F. Beard | Director | 4,237 | 0.01% | May 4, 2026 |
| Barry M. Granger | Director | 11,716 | 0.02% | May 4, 2026 |
| Teresa Taylor | Director | 13,646 | 0.02% | May 4, 2026 |
| Scott M. Prochazka | Director | 11,716 | 0.02% | May 4, 2026 |
| Anne G. Waleski | Director | 4,237 | 0.01% | May 4, 2026 |
| Mark A. Schober | Director | 12,688 | 0.02% | Feb 14, 2025 |
| Rebecca B. Roberts | Director | 8,266 | 0.01% | Feb 14, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Robert P. Otto Director | May 27, 2026 | Sale | −4,109 | $74.22 | $304.97K | 10,886 |
| Barry M. Granger Director | May 1, 2026 | Award | +1,921 | – | – | 11,716 |
| Robert P. Otto Director | May 1, 2026 | Award | +1,921 | – | – | 14,995 |
| Tony A. Jensen Director | May 1, 2026 | Award | +1,921 | – | – | 18,118 |
| Teresa Taylor Director | May 1, 2026 | Award | +1,921 | – | – | 13,646 |
| Kathleen S. McAllister Director | May 1, 2026 | Award | +1,921 | – | – | 16,529 |
| Robert F. Beard Director | May 1, 2026 | Award | +1,921 | – | – | 4,237 |
| Anne G. Waleski Director | May 1, 2026 | Award | +1,921 | – | – | 4,237 |
| Steven Richard Mills Director | May 1, 2026 | Award | +1,921 | – | – | 29,622 |
| Scott M. Prochazka Director | May 1, 2026 | Award | +1,921 | – | – | 11,716 |
| Linden R. Evans President and CEO | Feb 17, 2026 | Gift | −2,580 | – | – | 172,504 |
| Linden R. Evans President and CEO | Feb 17, 2026 | Gift | −3,731 | – | – | 168,773 |
| Marne M. Jones SVP - Utilities | Feb 12, 2026 | Tax withholding | −334.34 | $73.21 | $24.48K | 38,667 |
| Marne M. Jones SVP - Utilities | Feb 12, 2026 | Award | +835 | $73.21 | $61.13K | 39,002 |
| Kimberly F. Nooney SVP & CFO | Feb 12, 2026 | Tax withholding | −805.82 | $73.21 | $58.99K | 38,691 |
| Kimberly F. Nooney SVP & CFO | Feb 12, 2026 | Award | +2,006 | $73.21 | $146.86K | 39,497 |
| Linden R. Evans President and CEO | Feb 12, 2026 | Tax withholding | −3,555.67 | $73.21 | $260.31K | 175,084 |
| Linden R. Evans President and CEO | Feb 12, 2026 | Award | +9,036 | $73.21 | $661.53K | 178,640 |
| Marne M. Jones SVP - Utilities | Feb 9, 2026 | Tax withholding | −104.37 | $71.48 | $7.46K | 38,442 |
| Marne M. Jones SVP - Utilities | Feb 9, 2026 | Tax withholding | −275.75 | $71.48 | $19.71K | 38,167 |
| Linden R. Evans President and CEO | Feb 9, 2026 | Tax withholding | −1,077.8 | $71.48 | $77.04K | 170,986 |
| Linden R. Evans President and CEO | Feb 9, 2026 | Tax withholding | −1,382.35 | $71.48 | $98.81K | 169,604 |
| Kimberly F. Nooney SVP & CFO | Feb 9, 2026 | Tax withholding | −377.15 | $71.48 | $26.96K | 37,491 |
| Kimberly F. Nooney SVP & CFO | Feb 9, 2026 | Tax withholding | −250.25 | $71.48 | $17.89K | 37,868 |
| Marne M. Jones SVP - Utilities | Feb 7, 2026 | Tax withholding | −1,417.77 | $72.30 | $102.50K | 38,547 |
| Linden R. Evans President and CEO | Feb 7, 2026 | Tax withholding | −1,624.74 | $72.30 | $117.47K | 172,064 |
| Kimberly F. Nooney SVP & CFO | Feb 7, 2026 | Tax withholding | −1,805.12 | $72.30 | $130.51K | 38,119 |
| Sarah Wiltse SVP and CHRO | Feb 7, 2026 | Tax withholding | −201.03 | $72.30 | $14.53K | 7,532 |
| Marne M. Jones SVP - Utilities | Feb 6, 2026 | Award | +4,106 | – | – | 39,964 |
| Linden R. Evans President and CEO | Feb 6, 2026 | Award | +17,793 | – | – | 173,689 |
| Kimberly F. Nooney SVP & CFO | Feb 6, 2026 | Award | +4,654 | – | – | 39,924 |
| Donald Lee Redden JR CITO | Feb 6, 2026 | Award | +1,642 | – | – | 6,910 |
| Darren T. Nakata Chief Legal Officer | Feb 6, 2026 | Award | +2,874 | – | – | 7,495 |
| Sarah Wiltse SVP and CHRO | Feb 6, 2026 | Award | +2,327 | – | – | 7,733 |
| Linden R. Evans President and CEO | Dec 1, 2025 | Other | +8.08 | $72.45 | $585 | 168,781 |
| Kimberly F. Nooney SVP & CFO | Nov 10, 2025 | Sale | −14,500 | $70.70 | $1.03M | 34,621 |
| Darren T. Nakata Chief Legal Officer | Nov 7, 2025 | Award | +4,621 | – | – | 4,621 |
| Donald Lee Redden JR CITO | Aug 1, 2025 | Award | +5,268 | – | – | 5,268 |
| Robert F. Beard Director | Jun 1, 2025 | Discretionary | +72.73 | – | – | 2,295 |
| Anne G. Waleski Director | Jun 1, 2025 | Discretionary | +72.73 | – | – | 2,295 |
| Scott M. Prochazka Director | May 1, 2025 | Award | +2,222 | – | – | 9,319 |
| Steven Richard Mills Director | May 1, 2025 | Award | +2,222 | – | – | 27,237 |
| Tony A. Jensen Director | May 1, 2025 | Award | +2,222 | – | – | 15,688 |
| Anne G. Waleski Director | May 1, 2025 | Award | +2,222 | – | – | 2,222 |
| Barry M. Granger Director | May 1, 2025 | Award | +2,222 | – | – | 9,319 |
| Robert P. Otto Director | May 1, 2025 | Award | +2,222 | – | – | 12,431 |
| Robert F. Beard Director | May 1, 2025 | Award | +2,222 | – | – | 2,222 |
| Kathleen S. McAllister Director | May 1, 2025 | Award | +2,222 | – | – | 14,091 |
| Teresa Taylor Director | May 1, 2025 | Award | +2,222 | – | – | 11,448 |
| Barry M. Granger Director | Mar 1, 2025 | Discretionary | +384.91 | – | – | 9,704 |
| Teresa Taylor Director | Mar 1, 2025 | Discretionary | +230.42 | – | – | 11,678 |
| Scott M. Prochazka Director | Mar 1, 2025 | Discretionary | +383.59 | – | – | 9,703 |
| Tony A. Jensen Director | Mar 1, 2025 | Discretionary | +410.23 | – | – | 16,099 |
| Kathleen S. McAllister Director | Mar 1, 2025 | Discretionary | +418.72 | – | – | 14,510 |
| Steven Richard Mills Director | Mar 1, 2025 | Discretionary | +375.73 | – | – | 27,613 |
| Robert P. Otto Director | Mar 1, 2025 | Discretionary | +519.93 | – | – | 12,951 |
| Kimberly F. Nooney SVP & CFO | Mar 1, 2025 | Other | +649.24 | – | – | 35,270 |
| Linden R. Evans President and CEO | Mar 1, 2025 | Other | +191.21 | – | – | 4,491 |
| Linden R. Evans President and CEO | Feb 18, 2025 | Gift | −4,901 | – | – | 160,106 |
| Linden R. Evans President and CEO | Feb 18, 2025 | Gift | −3,210 | – | – | 156,896 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
16.87%
13M shares short
Days to cover
11.1
At 1M shares a day
Change since last report
+6.3%
From 12M shares
Short volume, 20 days
57.8%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Black Hills's stock actually held short. Settlement fails (shares not delivered on time) peaked at 31,629 shares on Oct 5, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Rebecca B. Roberts Director | May 30, 2024 | 3,094 | $170.02K | May 30, 2024 | Acquired from public market |
| Richard Kinzley Officer | May 8, 2023 | 10,033 | $656.66K | May 8, 2023 | PSU VEST |
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