Black HillsBKH
13F holders, Q4 2025 (December 31)461holders +29
62new positions
43sold out
7famous investors
$69.22avg. 13F price*
At the end of Q4 2025, 461 institutions reported holding Black Hills Corp. (BKH) in their 13F filings, up 29 from Q3 2025. 62 opened new positions and 43 sold out. The largest holders were BlackRock, Inc. ($842.6M), Vanguard Group Inc. ($623.0M) and State Street Corp. ($262.4M). 7 famous investors held it, including Steve Cohen (0.2% of Point72 Asset Management's portfolio), Mario Gabelli (0.1% of GAMCO Investors's portfolio) and Cliff Asness (0.1% of AQR Capital Management's portfolio).
- Company
- Black Hills Corp.
- CUSIP
- 092113109
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q3 2025 → Q4 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 62 | $240.9M |
| Exits | 43 | $104.1M |
All 13F filers, Q3 2025 → Q4 2025: 13,030,835 shares bought and 8,633,544 shares sold, net +4,397,291 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 461 holders
| BlackRock, Inc. | 0.01% | Add +7.1% | 12,138,305 | $842.6M |
| Vanguard Group Inc. | 0.01% | Reduce -0.2% | 8,974,122 | $623.0M |
| State Street Corp. | 0.01% | Reduce -1.5% | 3,780,111 | $262.4M |
| Nomura Asset Management International Inc. | 0.28% | — | 2,655,062 | $184.3M |
| Capital Research Global Investors | 0.03% | Add +38.7% | 2,275,922 | $158.0M |
| Covalis Capital LLP | 11.15% | New | 2,057,160 | $142.8M |
| Geode Capital Management, LLC | 0.01% | Add +3.0% | 1,894,539 | $131.5M |
| Point72 Asset Management | 0.21% | Add +12698.4% | 1,875,221 | $130.2M |
| Adage Capital Partners Gp, L.L.C. | 0.17% | Add +176.9% | 1,592,000 | $110.5M |
| AQR Capital Management | 0.05% | Add +3.2% | 1,418,384 | $98.5M |
| Cohen & Steers, Inc. | 0.17% | Add +17.8% | 1,385,759 | $96.2M |
| Nuveen, LLC | 0.02% | Reduce -3.1% | 1,230,205 | $85.4M |
| Charles Schwab Investment Management Inc. | 0.01% | Reduce -0.8% | 1,191,648 | $82.7M |
| Two Sigma Investments, LP | 0.13% | Add +123.9% | 1,176,944 | $81.7M |
| Dimensional Fund Advisors LP | 0.02% | Add +2.2% | 1,123,163 | $78.0M |
| Two Sigma Advisers, LP | 0.13% | Add +739.7% | 978,200 | $67.9M |
| Goldman Sachs Group Inc. | 0.01% | Add +3.2% | 967,603 | $67.2M |
| Northern Trust Corp. | 0.01% | Reduce -4.0% | 918,827 | $63.8M |
| Engineers Gate Manager LP | 0.70% | Add +17790.3% | 849,073 | $58.9M |
| Franklin Resources Inc. | 0.01% | Add +41.3% | 832,727 | $57.8M |
| Fuller & Thaler Asset Management, Inc. | 0.19% | Reduce -39.6% | 800,458 | $55.6M |
| Bank of New York Mellon Corp | 0.01% | Reduce -7.5% | 789,678 | $54.8M |
| First Trust Advisors LP | 0.04% | Reduce -16.3% | 728,943 | $50.6M |
| Victory Capital Management Inc. | 0.03% | Reduce -2.9% | 706,327 | $49.0M |
| Invesco Ltd. | 0.00% | Reduce -25.5% | 609,706 | $42.3M |
| ProShare Advisors LLC | 0.07% | Reduce -18.1% | 603,142 | $41.9M |
| Millennium Management | 0.03% | Add +384.2% | 574,943 | $39.9M |
| UBS Group AG | 0.01% | Add +86.5% | 572,227 | $39.7M |
| Morgan Stanley | 0.00% | Reduce -8.4% | 566,831 | $39.3M |
| Think Investments LP | 4.77% | New | 537,637 | $37.3M |
| Gabelli Funds LLC | 0.25% | Reduce -0.9% | 533,331 | $37.0M |
| Crawford Investment Counsel Inc. | 0.57% | Add +9.4% | 489,565 | $34.0M |
| JPMorgan Chase & Co. | 0.00% | Reduce -29.2% | 437,371 | $30.4M |
| Bank of America Corp. | 0.00% | Reduce -18.9% | 430,230 | $29.9M |
| Old Republic International Corp. | 1.17% | No change | 416,000 | $28.9M |
| Janus Henderson Group PLC | 0.01% | Reduce -12.1% | 398,420 | $27.7M |
| Manufacturers Life Insurance Company, The | 0.02% | Reduce -0.3% | 393,348 | $27.3M |
| Duff & Phelps Investment Management Co. | 0.31% | No change | 389,700 | $27.1M |
| Hotchkis & Wiley Capital Management LLC | 0.08% | Reduce -5.8% | 380,574 | $26.4M |
| Legal & General Group Plc | 0.01% | Reduce -9.8% | 339,452 | $23.6M |
| Alliancebernstein L.P. | 0.01% | Add +123.3% | 309,141 | $21.5M |
| HighTower Advisors, LLC | 0.02% | Add +48.6% | 278,659 | $19.3M |
| Zimmer Partners, LP | 0.50% | Reduce -74.9% | 276,034 | $19.2M |
| Freestone Grove Partners LP | 0.13% | Add +79.2% | 266,005 | $18.5M |
| Voya Investment Management LLC | 0.02% | Reduce -5.2% | 255,898 | $17.8M |
| Verition Fund Management LLC | 0.10% | Add +113.8% | 251,435 | $17.5M |
| Jane Street Group, LLC | 0.02% | Reduce -74.0% | 240,551 | $16.7M |
| Paradiem, LLC | 3.90% | Reduce -0.1% | 234,687 | $16.3M |
| Brandywine Global Investment Management, LLC | 0.11% | Reduce -3.5% | 231,017 | $16.0M |
| Rhumbline Advisers | 0.01% | Reduce -6.7% | 225,446 | $15.7M |
| Squarepoint Ops LLC | 0.03% | Add +45.5% | 213,023 | $14.8M |
| GAMCO Investors | 0.14% | Reduce -0.1% | 207,132 | $14.4M |
| California Public Employees Retirement System | 0.01% | Reduce -20.1% | 203,337 | $14.1M |
| Glenmede Trust Co. NA | 0.06% | — | 191,410 | $13.3M |
| Barclays PLC | 0.00% | Reduce -1.4% | 164,079 | $11.4M |
| Principal Financial Group Inc. | 0.01% | Reduce -0.5% | 163,397 | $11.3M |
| Connor, Clark & Lunn Investment Management Ltd. | 0.03% | Add +57.4% | 159,341 | $11.1M |
| Phocas Financial Corp. | 1.39% | Reduce -11.8% | 154,041 | $10.7M |
| Swiss National Bank | 0.01% | Add +2.3% | 143,779 | $10.0M |
| Leeward Investments, LLC - MA | 0.50% | Reduce -0.6% | 141,580 | $9.8M |
| Hunter Perkins Capital Management, LLC | 2.26% | Reduce -7.9% | 140,509 | $9.8M |
| Yaupon Capital Management LP | 0.47% | New | 138,958 | $9.6M |
| First Eagle Investment Management, LLC | 0.02% | Add +2.4% | 126,670 | $8.8M |
| Assenagon Asset Management S.A. | 0.01% | New | 124,539 | $8.6M |
| Mutual of America Capital Management LLC | 0.09% | Reduce -5.1% | 124,484 | $8.6M |
| Martin Capital Partners, LLC | 3.23% | Reduce -0.8% | 123,489 | $8.6M |
| Commonwealth of Pennsylvania Public School Empls Retrmt SYS | 0.04% | Reduce -10.6% | 122,582 | $8.5M |
| Algert Global LLC | 0.13% | No change | 120,604 | $8.4M |
| Wells Fargo & Company | 0.00% | Add +27.5% | 119,845 | $8.3M |
| Ameriprise Financial Inc. | 0.00% | Reduce -3.0% | 118,741 | $8.2M |
| Stifel Financial Corp. | 0.01% | Add +7.2% | 115,609 | $8.0M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Reduce -5.2% | 115,310 | $8.0M |
| Russell Investments Group, Ltd. | 0.01% | Add +2.6% | 113,761 | $7.9M |
| Royal Bank of Canada | 0.00% | Add +23.1% | 112,445 | $7.8M |
| Jain Global LLC | 0.08% | Add +2481.7% | 110,211 | $7.7M |
| Citadel Advisors | 0.00% | Reduce -81.3% | 100,668 | $7.0M |
| Ieq Capital, LLC | 0.02% | Add +40.4% | 96,741 | $6.7M |
| Thrivent Financial for Lutherans | 0.01% | Reduce -16.8% | 94,464 | $6.6M |
| Mairs & Power Inc. | 0.06% | Reduce -3.6% | 94,138 | $6.5M |
| Marshall Wace, LLP | 0.01% | Add +175.5% | 91,853 | $6.4M |
| Congress Asset Management Co. | 0.04% | Reduce -2.9% | 90,687 | $6.3M |
| Retirement Systems of Alabama | 0.02% | Add +2.8% | 90,579 | $6.3M |
| Sei Investments Co. | 0.01% | Reduce -10.6% | 89,361 | $6.2M |
| BW Gestao de Investimentos Ltda. | 0.21% | New | 86,219 | $6.0M |
| Cerity Partners LLC | 0.01% | Add +22.2% | 85,406 | $5.9M |
| Susquehanna International Group, LLP | 0.01% | New | 82,350 | $5.7M |
| Burney Co./ | 0.18% | Add +3.4% | 81,735 | $5.7M |
| Benson Investment Management Company, Inc. | 1.94% | Add +1.1% | 79,555 | $5.5M |
| MetLife Investment Management, LLC | 0.03% | Reduce -3.2% | 76,122 | $5.3M |
| Federated Hermes, Inc. | 0.01% | Add +30.2% | 74,333 | $5.2M |
| New York State Teachers Retirement System | 0.01% | No change | 73,390 | $5.1M |
| T. Rowe Price Associates Inc. | 0.00% | Add +5.5% | 72,465 | $5.0M |
| Man Group plc | 0.01% | Add +281.8% | 72,164 | $5.0M |
| California State Teachers Retirement System | 0.00% | Reduce -2.1% | 69,066 | $4.8M |
| Martingale Asset Management L P | 0.12% | Reduce -18.3% | 67,239 | $4.7M |
| Envestnet Asset Management Inc. | 0.00% | Add +5.9% | 65,339 | $4.5M |
| Alta Capital Management LLC/ | 0.29% | Reduce -2.2% | 61,889 | $4.3M |
| South Dakota Investment Council | 0.08% | Reduce -18.4% | 61,275 | $4.3M |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 0.01% | Reduce -17.8% | 60,477 | $4.2M |
| Waverly Advisors, LLC | 0.03% | Add +2.8% | 58,752 | $4.1M |
| Boston Partners | 0.00% | Reduce -4.4% | 58,553 | $4.1M |
| Deutsche Bank AG | 0.00% | Add +5.2% | 55,431 | $3.8M |
| Ontario Teachers Pension Plan Board | 0.09% | Reduce -23.4% | 54,852 | $3.8M |
| Susquehanna Portfolio Strategies, LLC | 0.06% | New | 53,755 | $3.7M |
| Mariner, LLC | 0.00% | Add +20.8% | 53,441 | $3.7M |
| Magellan Asset Management Ltd | 0.04% | Add +7.1% | 51,532 | $3.6M |
| Midwest Trust Co | 0.04% | Reduce -4.1% | 51,412 | $3.6M |
| John G Ullman & Associates Inc. | 0.48% | Reduce -1.7% | 51,391 | $3.6M |
| Mackenzie Financial Corp. | 0.00% | Reduce -1.3% | 51,256 | $3.6M |
| Raymond James Financial Inc. | 0.00% | Reduce -43.7% | 51,111 | $3.5M |
| D. E. Shaw & Co. | 0.00% | Reduce -59.5% | 50,920 | $3.5M |
| Cambridge Investment Research Advisors, Inc. | 0.01% | Add +3.0% | 49,795 | $3.5M |
| Nisa Investment Advisors, LLC | 0.01% | Add +4.8% | 49,687 | $3.4M |
| Jump Financial, LLC | 0.05% | New | 49,600 | $3.4M |
| State of Wisconsin Investment Board | 0.01% | Reduce -6.4% | 48,845 | $3.4M |
| LPL Financial LLC | 0.00% | Add +2.8% | 48,334 | $3.4M |
| Cwm, LLC | 0.01% | Add +11.8% | 47,974 | $3.3M |
| Creative Planning | 0.00% | Add +27.3% | 47,750 | $3.3M |
| Cozad Asset Management Inc. | 0.25% | Add +159.5% | 47,225 | $3.3M |
| Hennessy Advisors Inc. | 0.12% | Add +0.6% | 47,147 | $3.3M |
| Alps Advisors Inc. | 0.02% | Add +42.3% | 46,561 | $3.2M |
| Lesa Sroufe & Co | 2.39% | Add +0.9% | 46,257 | $3.2M |
| Farmers & Merchants Investments Inc. | 0.09% | Reduce -2.9% | 45,978 | $3.2M |
| SummitTX Capital, L.P. | 0.10% | New | 45,773 | $3.2M |
| Susquehanna Fundamental Investments, LLC | 0.11% | Reduce -2.4% | 44,949 | $3.1M |
| New York State Common Retirement Fund | 0.00% | Reduce -6.3% | 44,276 | $3.1M |
| CANADA LIFE ASSURANCE Co | 0.01% | Add +5.0% | 43,904 | $3.0M |
| AMG National Trust Bank | 0.07% | Add +1.0% | 43,856 | $3.0M |
| First Manhattan Co. Llc. | 0.01% | Reduce -0.2% | 42,752 | $3.0M |
| Meritage Portfolio Management | 0.19% | Reduce -50.6% | 41,683 | $2.9M |
| Riverwater Partners LLC | 1.12% | No change | 41,579 | $2.9M |
| Hudson Bay Capital Management LP | 0.02% | New | 40,638 | $2.8M |
| Macquarie Group Ltd. | 0.01% | Reduce -98.2% | 40,147 | $2.8M |
| State of Tennessee, Department of Treasury | 0.01% | Add +57.0% | 37,333 | $2.7M |
| Orion Porfolio Solutions, LLC | 0.02% | Reduce -1.9% | 38,739 | $2.7M |
| Ameritas Investment Partners, Inc. | 0.08% | Reduce -5.3% | 37,875 | $2.6M |
| Allianz Asset Management GmbH | 0.00% | Reduce -8.4% | 37,811 | $2.6M |
| Simplex Trading, LLC | 0.07% | Add +199.4% | 37,089 | $2.6M |
| Entropy Technologies, LP | 0.14% | Add +318.0% | 36,160 | $2.5M |
| Horizon Investments, LLC | 0.03% | Add +74.3% | 34,523 | $2.4M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | Add +0.9% | 34,097 | $2.4M |
| Polaris Capital Management, LLC | 0.19% | Reduce -7.4% | 33,700 | $2.3M |
| Comerica Bank | 0.01% | Add +1.7% | 32,842 | $2.3M |
| Voloridge Investment Management, LLC | 0.01% | Add +48.3% | 32,591 | $2.3M |
| Amalgamated Bank | 0.02% | Reduce -1.1% | 31,719 | $2.2M |
| State of New Jersey Common Pension Fund D | 0.01% | Reduce -13.8% | 30,685 | $2.1M |
| DC Investments Management, LLC | 0.92% | No change | 29,900 | $2.1M |
| Intech Investment Management LLC | 0.02% | Reduce -28.5% | 29,509 | $2.0M |
| Advisors Asset Management, Inc. | 0.03% | Add +2.0% | 29,303 | $2.0M |
| Cetera Investment Advisers | 0.00% | Add +2.7% | 29,251 | $2.0M |
| BTG Pactual Asset Management US LLC | 0.23% | Reduce -14.4% | 29,102 | $2.0M |
| Bridgeway Capital Management, LLC | 0.04% | Add +70.6% | 29,000 | $2.0M |
| Barnett & Company, Inc. | 1.60% | Add +1.1% | 28,700 | $2.0M |
| Van Eck Associates Corp. | 0.00% | Add +7.6% | 28,202 | $2.0M |
| Bollard Group LLC | 0.05% | Reduce -1.5% | 27,241 | $1.9M |
| Buckley Wealth Management, LLC | 0.49% | Add +3.5% | 26,531 | $1.8M |
| State Board of Administration of Florida Retirement System | 0.00% | Add +59.9% | 26,244 | $1.8M |
| Mercer Global Advisors Inc. | 0.00% | Add +26.8% | 26,124 | $1.8M |
| Avantax Planning Partners, Inc. | 0.05% | Reduce -11.6% | 25,817 | $1.8M |
| HITE Hedge Asset Management LLC | 0.11% | New | 25,000 | $1.7M |
| BNP Paribas Financial Markets | 0.00% | Add +1.7% | 24,233 | $1.7M |
| Convergence Investment Partners, LLC | 0.33% | Reduce -1.6% | 23,869 | $1.7M |
| Yousif Capital Management, LLC | 0.02% | Add +0.6% | 22,290 | $1.6M |
| Prudential Financial Inc. | 0.00% | Reduce -87.7% | 23,277 | $1.6M |
| Schonfeld Strategic Advisors LLC | 0.01% | Reduce -72.8% | 23,181 | $1.6M |
| Vanguard Personalized Indexing Management, LLC | 0.02% | Add +3.7% | 23,028 | $1.6M |
| Sequoia Financial Advisors, LLC | 0.01% | Add +45.9% | 23,023 | $1.6M |
| FMR LLC | 0.00% | Reduce -84.7% | 22,744 | $1.6M |
| Capital Financial Group Inc\co\ | 0.85% | — | 21,950 | $1.5M |
| Citigroup Inc. | 0.00% | Reduce -53.9% | 21,400 | $1.5M |
| IMC-Chicago, LLC | 0.03% | New | 21,396 | $1.5M |
| Teachers Retirement System of the State of Kentucky | 0.01% | No change | 21,298 | $1.5M |
| Pathstone Holdings, LLC | 0.01% | Reduce -5.6% | 21,034 | $1.5M |
| Louisiana State Employees Retirement System | 0.02% | Add +3.0% | 20,900 | $1.5M |
| Weiss Asset Management LP | 0.03% | New | 20,823 | $1.4M |
| Osaic Holdings, Inc. | 0.00% | Add +11.7% | 20,537 | $1.4M |
| Arizona State Retirement System | 0.01% | Reduce -5.0% | 20,372 | $1.4M |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Add +26.0% | 20,093 | $1.4M |
| AdvisorNet Financial, Inc | 0.07% | Add +0.1% | 19,955 | $1.4M |
| Police & Firemen's Retirement System of New Jersey | 0.01% | Reduce -1.5% | 19,831 | $1.4M |
| First PREMIER Bank | 0.30% | Reduce -3.4% | 18,824 | $1.3M |
| Bank of Montreal | 0.00% | Reduce -0.1% | 18,424 | $1.3M |
| Greenland Capital Management LP | 0.20% | Reduce -38.7% | 18,126 | $1.3M |
| Quantinno Capital Management LP | 0.00% | Add +30.5% | 17,835 | $1.2M |
| State of Michigan Retirement System | 0.01% | Add +2.9% | 17,800 | $1.2M |
| Cornerstone Wealth Management, LLC | 0.06% | Add +6.0% | 17,632 | $1.2M |
| Foundations Investment Advisors, LLC | 0.02% | Add +178.8% | 17,562 | $1.2M |
| American Century Companies Inc. | 0.00% | Reduce -7.9% | 17,506 | $1.2M |
| Group One Trading LLC | 0.04% | New | 17,009 | $1.2M |
| Northwestern Mutual Investment Management Company, LLC | 0.01% | Add +4.0% | 16,886 | $1.2M |
| CWA Asset Management Group, LLC | 0.04% | Add +18.4% | 16,877 | $1.2M |
| Neuberger Berman Group LLC | 0.00% | Add +30.9% | 16,495 | $1.1M |
| Quadrant Capital Group LLC | 0.03% | Add +2.2% | 15,972 | $1.1M |
| Kestra Investment Management, LLC | 0.03% | Reduce -6.1% | 15,849 | $1.1M |
| Brevan Howard Capital Management LP | 0.02% | New | 15,509 | $1.1M |
| Miller Howard Investments Inc. | 0.03% | Add +8.6% | 15,357 | $1.1M |
| D.A. Davidson & Co. | 0.01% | Reduce -4.9% | 15,327 | $1.1M |
| Sterling Capital Management LLC | 0.02% | Reduce -3.1% | 15,323 | $1.1M |
| Exchange Traded Concepts, LLC | 0.01% | Add +12.4% | 15,201 | $1.1M |
| Oregon Public Employees Retirement Fund | 0.01% | Add +3.4% | 15,122 | $1.0M |
| Lazard Asset Management LLC | 0.00% | Reduce -29.6% | 15,034 | $1.0M |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | Add +7.1% | 14,952 | $1.0M |
| Dark Forest Capital Management LP | 0.05% | Reduce -85.4% | 14,593 | $1.0M |
| Edgestream Partners, L.P. | 0.03% | New | 13,775 | $956K |
| Captrust Financial Advisors | 0.00% | Add +13.0% | 13,760 | $955K |
| PNC Financial Services Group, Inc. | 0.00% | Add +0.8% | 13,480 | $936K |
| New Mexico Educational Retirement Board | 0.03% | No change | 13,306 | $924K |
| Eagle Global Advisors LLC | 0.03% | Reduce -31.5% | 12,830 | $891K |
| Burford Brothers, Inc. | 0.36% | Reduce -23.9% | 12,683 | $880K |
| Smith, Moore & Co. | 0.07% | Reduce -0.3% | 12,642 | $878K |
| Roehl & Yi Investment Advisors, LLC | 0.35% | Reduce -0.3% | 12,503 | $868K |
| AlphaQuest LLC | 0.05% | Reduce -43.6% | 12,384 | $860K |
| Natixis Advisors, LLC | 0.00% | Reduce -2.3% | 12,364 | $858K |
| Oakmont Investment Advisors, Inc. | 0.62% | — | 12,270 | $852K |
| Icon Advisers Inc. | 0.19% | No change | 12,237 | $849K |
| Hantz Financial Services, Inc. | 0.01% | Add +3.1% | 12,126 | $842K |
| Commonwealth Equity Services, LLC | 0.00% | Add +13.0% | 12,054 | $837K |
| Parallax Volatility Advisers, L.P. | 0.03% | New | 11,937 | $829K |
| Landscape Capital Management, L.L.C. | 0.05% | Reduce -32.6% | 11,787 | $818K |
| Quantbot Technologies LP | 0.03% | Add +31.2% | 11,473 | $796K |
| Uncommon Cents Investing LLC | 0.19% | Add +2.7% | 11,405 | $792K |
| Huber Capital Management LLC | 0.11% | Reduce -12.2% | 11,215 | $779K |
| Pictet Asset Management Holding SA | 0.00% | Add +49.4% | 11,020 | $765K |
| Choreo, LLC | 0.01% | Reduce -11.2% | 10,943 | $762K |
| O'shaughnessy Asset Management, LLC | 0.00% | Add +10.1% | 10,928 | $759K |
| Bahl & Gaynor LLC | 0.00% | No change | 10,850 | $753K |
| Aquatic Capital Management LLC | 0.02% | New | 10,807 | $750K |
| Fox Run Management, L.L.C. | 0.12% | Reduce -11.0% | 10,777 | $748K |
| Inspire Investing, LLC | 0.06% | Add +34.8% | 9,906 | $688K |
| State of Alaska, Department of Revenue | 0.01% | Reduce -2.7% | 9,773 | $678K |
| Lighthouse Investment Partners, LLC | 0.02% | No change | 9,588 | $666K |
| US Bancorp \de | 0.00% | Reduce -69.0% | 9,470 | $657K |
| Eagle Harbor Asset Management Inc. | 0.54% | Add +1.2% | 9,456 | $656K |
| Meeder Advisory Services, Inc. | 0.03% | Add +1.6% | 9,192 | $638K |
| Guggenheim Capital LLC | 0.00% | Reduce -25.2% | 9,187 | $638K |
| Navellier & Associates Inc. | 0.07% | Reduce -18.2% | 9,008 | $625K |
| Xponance LLC | 0.00% | Reduce -12.6% | 8,961 | $622K |
| Pacer Advisors, Inc. | 0.00% | Reduce -49.0% | 8,865 | $615K |
| Atria Investments, Inc | 0.01% | Add +22.1% | 8,770 | $609K |
| EP Wealth Advisors, LLC | 0.00% | — | 8,719 | $605K |
| Focus Partners Wealth | 0.00% | Add +64.8% | 8,687 | $603K |
| Inspire Advisors, LLC | 0.05% | New | 8,567 | $595K |
| Summit Global Investments | 0.03% | Reduce -56.8% | 8,166 | $567K |
| MML Investors Services, LLC | 0.00% | Add +57.6% | 8,097 | $562K |
| CSS LLC | 0.09% | Reduce -34.4% | 8,037 | $558K |
| Assetmark, Inc. | 0.00% | Add +0.3% | 7,880 | $547K |
| STRS Ohio | 0.00% | No change | 7,800 | $541K |
| Sumitomo Mitsui Trust Group, Inc. | 0.00% | New | 7,636 | $530K |
| Clear Creek Financial Management, LLC | 0.04% | Add +16.2% | 7,417 | $515K |
| Arkadios Wealth Advisors | 0.01% | Add +2.4% | 7,407 | $514K |
| HSBC Holdings PLC | 0.00% | Reduce -12.8% | 7,268 | $504K |
| QP Wealth Management, LLC | 0.43% | — | 7,089 | $492K |
| SG Americas Securities, LLC | 0.00% | Add +95.2% | 7,035 | $488K |
| Harbor Capital Advisors, Inc. | 0.04% | Add +10.3% | 7,002 | $486K |
| IFP Advisors, Inc | 0.01% | Add +2.7% | 6,918 | $480K |
| Vise Technologies, Inc. | 0.01% | Add +13.7% | 6,883 | $478K |
| Massar Capital Management, LP | 0.09% | New | 6,844 | $475K |
| Kestra Advisory Services, LLC | 0.00% | Add +1.6% | 6,825 | $474K |
| Daiwa Securities Group Inc. | 0.00% | Reduce -15.7% | 6,655 | $462K |
| Moors & Cabot, Inc. | 0.02% | No change | 6,479 | $450K |
| Private Advisor Group, LLC | 0.00% | No change | 6,386 | $443K |
| Abel Hall, LLC | 0.10% | New | 6,335 | $440K |
| Mission Wealth Management, LP | 0.01% | Add +3.8% | 6,216 | $432K |
| AssuredPartners Investment Advisors, LLC | 0.06% | New | 6,088 | $423K |
| Swiss Life Asset Management Ltd | 0.00% | Add +81.1% | 6,059 | $421K |
| Merit Financial Group, LLC | 0.00% | Add +55.6% | 5,869 | $407K |
| Lanark Financial, Inc. | 0.03% | Add +6.2% | 5,852 | $406K |
| Intrua Financial, LLC | 0.04% | Reduce -37.3% | 5,845 | $406K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 5,801 | $403K |
| United Capital Financial Advisors, LLC | 0.00% | New | 5,516 | $383K |
| Securian Asset Management, Inc. | 0.01% | Add +1.4% | 5,500 | $382K |
| Monarch Capital Management Inc. | 0.09% | No change | 5,485 | $381K |
| First National Bank Sioux Falls | 0.11% | No change | 5,483 | $381K |
| Focus Partners Advisor Solutions, LLC | 0.00% | Reduce -7.0% | 5,418 | $376K |
| M&T Bank Corp | 0.00% | Add +20.7% | 5,126 | $356K |
| Pinnacle West Asset Management, Inc. | 0.23% | Reduce -1.4% | 5,130 | $356K |
| Baird Financial Group, Inc. | 0.00% | Add +4.6% | 5,096 | $354K |
| Journey Strategic Wealth LLC | 0.01% | Add +8.4% | 5,056 | $351K |
| Horizon Investment Services, LLC | 0.13% | New | 5,044 | $350K |
| Los Angeles Capital Management LLC | 0.00% | Reduce -14.4% | 5,438 | $346K |
| Platform Technology Partners | 0.07% | No change | 4,945 | $343K |
| HB Wealth Management, LLC | 0.00% | Add +28.7% | 4,890 | $339K |
| Cibc World Markets Corp. | 0.00% | — | 4,864 | $338K |
| Corient Private Wealth LP | 0.00% | Add +4.4% | 4,804 | $334K |
| Ruggaard & Associates LLC | 0.13% | No change | 4,649 | $323K |
| BIP Wealth, LLC | 0.01% | New | 4,560 | $317K |
| Regions Financial Corp. | 0.00% | No change | 4,546 | $316K |
| Hancock Whitney Corp. | 0.01% | New | 4,544 | $315K |
| Jones Financial Companies LLLP | 0.00% | Add +33.4% | 4,525 | $314K |
| Teacher Retirement System of Texas | 0.00% | Reduce -60.5% | 4,432 | $308K |
| NorthCrest Asset Manangement, LLC | 0.01% | Add +14.4% | 4,348 | $302K |
| Sivia Capital Partners, LLC | 0.06% | New | 4,258 | $296K |
| Ballentine Partners, LLC | 0.00% | Add +0.8% | 4,215 | $293K |
| Covestor Ltd | 0.15% | Add +1179.6% | 4,197 | $292K |
| Evergreen Capital Management LLC | 0.01% | Reduce -0.3% | 4,084 | $284K |
| Syon Capital LLC | 0.01% | Add +0.3% | 4,069 | $282K |
| Evolve Private Wealth, LLC | 0.02% | — | 4,015 | $279K |
| Tower Research Capital LLC (TRC) | 0.01% | Reduce -36.2% | 3,985 | $277K |
| Rexford Capital Inc. | 0.21% | No change | 3,962 | $275K |
| nVerses Capital, LLC | 0.61% | — | 3,944 | $274K |
| SeaCrest Wealth Management, LLC | 0.03% | Add +0.3% | 3,723 | $268K |
| NewEdge Advisors, LLC | 0.00% | Add +337.9% | 3,854 | $268K |
| CIBC Private Wealth Group LLC | 0.00% | Reduce -5.0% | 3,844 | $267K |
| Chilton Capital Management LLC | 0.01% | No change | 3,843 | $267K |
| Concurrent Investment Advisors, LLC | 0.00% | Add +4.6% | 3,827 | $266K |
| Crossmark Global Holdings, Inc. | 0.00% | No change | 3,827 | $266K |
| Signaturefd, LLC | 0.00% | Reduce -4.1% | 3,816 | $265K |
| DekaBank Deutsche Girozentrale | 0.00% | No change | 4,419 | $264K |
| Gsa Capital Partners LLP | 0.02% | New | 3,784 | $263K |
| Carlson Financial, Inc. | 0.15% | — | 3,694 | $256K |
| Gotham Asset Management | 0.00% | New | 3,611 | $251K |
| J.W. Cole Advisors, Inc. | 0.01% | Reduce -7.2% | 3,396 | $236K |
| Lido Advisors, LLC | 0.00% | Add +3.7% | 3,791 | $235K |
| FORA Capital, LLC | 0.03% | New | 1,953 | $234K |
| DGS Capital Management, LLC | 0.04% | New | 3,330 | $231K |
| Richmond Investment Services, LLC | 0.04% | No change | 3,328 | $231K |
| International Assets Investment Management, LLC | 0.02% | New | 220,354 | $229K |
| Financiere des Professionnels - Fonds d'investissement inc. | 0.01% | Reduce -22.1% | 3,225 | $224K |
| Public Employees Retirement System of Ohio | 0.00% | Add +99.7% | 3,205 | $222K |
| Forvis Mazars Wealth Advisors, LLC | 0.00% | New | 3,181 | $221K |
| Allworth Financial LP | 0.00% | Add +19.9% | 3,141 | $218K |
| Longboard Asset Management, LP | 1.39% | New | 3,140 | $218K |
| Crewe Advisors LLC | 0.02% | Add +0.4% | 3,140 | $218K |
| Parcion Private Wealth LLC | 0.01% | New | 3,124 | $217K |
| Rockefeller Capital Management L.P. | 0.00% | Add +11.7% | 3,089 | $214K |
| Brooklyn Investment Group | 0.01% | New | 3,039 | $212K |
| Perigon Wealth Management, LLC | 0.00% | New | 3,039 | $211K |
| GW Henssler & Associates Ltd. | 0.01% | New | 3,018 | $210K |
| Autumn Glory Partners, LLC | 0.07% | New | 3,000 | $208K |
| Summit Wealth Group LLC / Co. | 0.03% | New | 2,998 | $208K |
| Profund Advisors LLC | 0.01% | New | 2,959 | $205K |
| Integrated Wealth Concepts LLC | 0.00% | New | 2,951 | $205K |
| Truist Financial Corp. | 0.00% | New | 2,897 | $201K |
| Creative Financial Designs Inc. | 0.01% | Reduce -52.1% | 2,832 | $197K |
| Huntington National Bank | 0.00% | Add +13.4% | 2,783 | $193K |
| Ensign Peak Advisors, Inc | 0.00% | Reduce -59.0% | 2,638 | $183K |
| Scarborough Advisors, LLC | 0.03% | Add +0.9% | 2,566 | $178K |
| Turning Point Benefit Group, Inc. | 0.09% | Add +2655.1% | 2,452 | $170K |
| Parallel Advisors, LLC | 0.00% | Add +96.4% | 2,316 | $161K |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.00% | New | 2,309 | $160K |
| EverSource Wealth Advisors, LLC | 0.01% | Add +28.7% | 2,039 | $142K |
| Larson Financial Group LLC | 0.00% | Add +0.1% | 1,963 | $136K |
| KBC Group NV | 0.00% | No change | 1,906 | $132K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | Reduce -0.8% | 1,812 | $126K |
| Northwestern Mutual Wealth Management Co. | 0.00% | Reduce -24.6% | 1,802 | $125K |
| SBI Securities Co., Ltd. | 0.00% | Add +530.0% | 1,783 | $124K |
| Aster Capital Management (DIFC) Ltd | 0.05% | Add +639.2% | 1,774 | $123K |
| Asset Management One Co., Ltd. | 0.00% | New | 1,722 | $120K |
| Rothschild Investment LLC | 0.01% | Add +16.9% | 1,688 | $117K |
| GPS Wealth Strategies Group, LLC | 0.10% | Add +0.6% | 1,607 | $112K |
| Farther Finance Advisors, LLC | 0.00% | Add +11.5% | 1,516 | $105K |
| Asset Planning,Inc | 0.07% | Add +1.0% | 1,440 | $100K |
| Essential Partners LLC | 0.03% | Add +24.6% | 1,361 | $94K |
| Westfuller Advisors, LLC | 0.04% | No change | 1,361 | $94K |
| HM Payson & Co. | 0.00% | Reduce -60.6% | 1,300 | $90K |
| Mitsubishi UFJ Trust & Banking Corp | 0.00% | Reduce -40.4% | 1,255 | $87K |
| Flagship Harbor Advisors, LLC | 0.00% | New | 1,230 | $85K |
| Harbour Investments, Inc. | 0.00% | Add +1.8% | 1,221 | $85K |
| Smithfield Trust Co | 0.00% | No change | 1,175 | $82K |
| CoreCap Advisors, LLC | 0.00% | Reduce -14.8% | 1,154 | $80K |
| Hilltop National Bank | 0.02% | Reduce -30.1% | 1,153 | $80K |
| Global Retirement Partners, LLC | 0.00% | Add +110.2% | 1,093 | $76K |
| State of Wyoming | 0.01% | Reduce -71.0% | 1,053 | $73K |
| Pingora Partners LLC | 0.04% | No change | 1,000 | $69K |
| SRH Advisors, LLC | 0.02% | No change | 1,000 | $69K |
| City State Bank | 0.02% | No change | 1,000 | $69K |
| Wealth Enhancement Trust Services, Inc. | 0.01% | — | 1,000 | $69K |
| Nomura Asset Management Co. Ltd. | 0.00% | No change | 980 | $68K |
| Geneos Wealth Management Inc. | 0.00% | Add +11.6% | 962 | $67K |
| GAMMA Investing LLC | 0.00% | Add +19.5% | 877 | $61K |
| Smartleaf Asset Management LLC | 0.00% | Add +47.6% | 850 | $59K |
| Bartlett & Co. Wealth Management LLC | 0.00% | No change | 800 | $56K |
| First Horizon Corp. | 0.00% | Add +192.8% | 773 | $54K |
| Fifth Third Bancorp | 0.00% | Add +1.2% | 762 | $53K |
| North Star Investment Management Corp. | 0.00% | No change | 750 | $52K |
| Optiver Holding B.V. | 0.00% | Add +66.7% | 745 | $52K |
| Sunbelt Securities, Inc. | 0.00% | Reduce -25.5% | 705 | $49K |
| UMB Bank, n.a. | 0.00% | Add +10.8% | 700 | $49K |
| Gen-Wealth Partners Inc | 0.01% | No change | 634 | $44K |
| TD Waterhouse Canada Inc. | 0.00% | No change | 550 | $38K |
| WealthCollab, LLC | 0.01% | No change | 525 | $36K |
| Bessemer Group Inc. | 0.00% | No change | 498 | $35K |
| Hussman Strategic Advisors, Inc. | 0.01% | No change | 500 | $35K |
| IMA Advisory Services, Inc. | 0.00% | No change | 500 | $35K |
| Clarity Asset Management, Inc. | 0.02% | Add +1.0% | 494 | $34K |
| Versant Capital Management, Inc | 0.00% | No change | 490 | $34K |
| Blue Trust, Inc. | 0.00% | Reduce -28.4% | 459 | $32K |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.00% | No change | 456 | $32K |
| Clearstead Trust, LLC | 0.01% | Add +23.6% | 456 | $32K |
| Pinnacle Wealth Planning Services, Inc. | 0.00% | New | 438 | $30K |
| Canton Hathaway, LLC | 0.01% | No change | 400 | $28K |
| Tompkins Financial Corp. | 0.00% | No change | 400 | $28K |
| CENTRAL TRUST Co | 0.00% | No change | 400 | $28K |
| Eastern Bank | 0.00% | No change | 400 | $28K |
| Quent Capital, LLC | 0.00% | Add +12.3% | 366 | $25K |
| Byrne Asset Management LLC | 0.01% | Add +40.0% | 350 | $24K |
| Centiva Capital, LP | 0.00% | New | 319 | $22K |
| HHM Wealth Advisors, LLC | 0.00% | Add +47.6% | 310 | $22K |
| Cypress Capital Management LLC (WY) | 0.02% | Add +100.0% | 300 | $21K |
| Glen Eagle Advisors, LLC | 0.00% | No change | 300 | $21K |
| St Germain D J Co. Inc. | 0.00% | No change | 286 | $20K |
| Clearstead Advisors, LLC | 0.00% | Reduce -64.8% | 274 | $19K |
| Brown Brothers Harriman & Co. | 0.00% | New | 254 | $18K |
| Kemnay Advisory Services Inc. | 0.00% | New | 229 | $16K |
| Bogart Wealth, LLC | 0.00% | Reduce -18.8% | 220 | $15K |
| LRI Investments, LLC | 0.00% | Reduce -21.3% | 211 | $15K |
| MAI Capital Management | 0.00% | Add +37.0% | 200 | $14K |
| Elyxium Wealth, LLC | 0.00% | New | 169 | $12K |
| GHP Investment Advisors, Inc. | 0.00% | No change | 159 | $11K |
| Arax Advisory Partners | 0.00% | Reduce -99.2% | 140 | $10K |
| Physician Wealth Advisors, Inc. | 0.00% | Add +7.1% | 121 | $8K |
| Steward Partners Investment Advisory, LLC | 0.00% | Reduce -35.1% | 107 | $7K |
| Ares Financial Consulting, LLC | 0.01% | — | 101 | $7K |
| Clark Wealth Partners | 0.00% | No change | 100 | $7K |
| St. Johns Investment Management Company, LLC | 0.00% | No change | 100 | $7K |
| Financial Perspectives, Inc | 0.00% | No change | 100 | $7K |
| Private Wealth Management Group, LLC | 0.00% | No change | 97 | $7K |
| True Wealth Design, LLC | 0.00% | Reduce -1.1% | 94 | $7K |
| Root Financial Partners, LLC | 0.00% | Add +16.2% | 86 | $6K |
| Truvestments Capital LLC | 0.00% | No change | 81 | $6K |
| Basecamp Wealth Advisors LLC | 0.00% | — | 63 | $4K |
| Sound Income Strategies, LLC | 0.00% | No change | 52 | $4K |
| Manchester Capital Management LLC | 0.00% | New | 54 | $4K |
| Parkside Financial Bank & Trust | 0.00% | No change | 50 | $3K |
| SageView Advisory Group, LLC | 0.00% | New | 45 | $3K |
| JFS Wealth Advisors, LLC | 0.00% | Add +51.9% | 41 | $3K |
| Fortitude Family Office, LLC | 0.00% | Add +25.0% | 40 | $3K |
| Private Trust Co. NA | 0.00% | No change | 40 | $3K |
| Bell Investment Advisors, Inc | 0.00% | No change | 36 | $3K |
| Cornerstone Planning Group LLC | 0.00% | Add +25.9% | 34 | $2K |
| Godfrey Financial Associates, Inc. | 0.00% | — | 32 | $2K |
| Kilter Group LLC | 0.00% | Add +115.4% | 28 | $2K |
| Trust Co | 0.00% | New | 25 | $2K |
| Keating Financial Advisory Services, Inc. | 0.00% | — | 25 | $2K |
| Steigerwald, Gordon & Koch Inc. | 0.00% | New | 24 | $2K |
| Cornerstone Financial Management LLC | 0.00% | — | 22 | $2K |
| Bare Financial Services, Inc | 0.00% | Add +61.5% | 21 | $1K |
| WPG Advisers, LLC | 0.00% | No change | 19 | $1K |
| Picton Mahoney Asset Management | 0.00% | Reduce -99.9% | 19 | $1K |
| Avion Wealth | 0.00% | No change | 20 | $1K |
| Capital Advisors, Ltd. LLC | 0.00% | No change | 14 | $1K |
| Spire Wealth Management | 0.00% | No change | 13 | $902 |
| SWAN Capital LLC | 0.00% | New | 12 | $839 |
| Torren Management, LLC | 0.00% | — | 12 | $814 |
| Sachetta, LLC | 0.00% | No change | 10 | $695 |
| Caitlin John, LLC | 0.00% | Add +11.1% | 10 | $664 |
| Optima Capital LLC | 0.00% | New | 9 | $625 |
| MV Capital Management, Inc. | 0.00% | No change | 9 | $625 |
| CVA Family Office, LLC | 0.00% | No change | 9 | $625 |
| Bay Harbor Wealth Management, LLC | 0.00% | Add +100.0% | 8 | $555 |
| S&T Bank | 0.00% | New | 6 | $417 |
| Financial Management Professionals, Inc. | 0.00% | No change | 6 | $417 |
| DiNuzzo Private Wealth, Inc. | 0.00% | No change | 6 | $417 |
| HFM Investment Advisors, LLC | 0.00% | Add +66.7% | 5 | $348 |
| SJS Investment Consulting Inc. | 0.00% | No change | 5 | $348 |
| Leonteq Securities AG | 0.00% | No change | 3 | $208 |
| Strive Financial Group ,LLC | 0.00% | — | 2 | $139 |
| Hughes Financial Services, LLC | 0.00% | New | 2 | $139 |
| Rialto Wealth Management, LLC | 0.00% | No change | 2 | $139 |
| Dunhill Financial, LLC | 0.00% | New | 1 | $93 |
| Toronto Dominion Bank | 0.00% | New | 1 | $72 |
"% of holder's portfolio" is BKH's weight in each manager's 13F, not the share of Black Hills Corp. the manager owns.