BLACK HILLS CORP BKH
COM · Common Stock · CUSIP 092113109 · ISIN US0921131092
Energy company in based in Rapid City, South Dakota, United States
- SectorUtilities
- IndustryElectric Services
- HeadquartersRapid City, SD
- Founded1941
- Websiteir.blackhillscorp.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.3m this quarter). Holder counts are more reliable. Shares outstanding: 71.6m as of 2024-11-04, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $61.04. Options: 5 managers hold calls ($3.0m notional), 4 hold puts ($2.4m).
Trends to Q3 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 328 |
| Q4 2022 | 322 |
| Q1 2023 | 331 |
| Q2 2023 | 332 |
| Q3 2023 | 344 |
| Q4 2023 | 365 |
| Q1 2024 | 395 |
| Q2 2024 | 375 |
| Q3 2024 | 394 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 142 | 144 |
| Q1 2023 | 155 | 155 |
| Q2 2023 | 165 | 142 |
| Q3 2023 | 160 | 157 |
| Q4 2023 | 187 | 152 |
| Q1 2024 | 220 | 147 |
| Q2 2024 | 195 | 163 |
| Q3 2024 | 197 | 155 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2023 | $2.9m | $2.5m | 0.87 |
| Q1 2024 | $3.6m | $3.6m | 1.00 |
| Q2 2024 | $3.8m | $3.5m | 0.92 |
| Q3 2024 | $3.0m | $2.4m | 0.81 |
Biggest buyers
| Zimmer Partners, LP | New | +1.6m |
| FRANKLIN RESOURCES INC | Added | +461.9k |
| DEUTSCHE BANK AG\ | Added | +169.6k |
| VANGUARD GROUP INC | Added | +169.5k |
| Invenomic Capital Management LP | New | +135.2k |
| Qube Research & Technologies Ltd | Added | +130.1k |
| JPMORGAN CHASE & CO | Added | +112.9k |
| NORTHERN TRUST CORP | Added | +102.2k |
| FULLER & THALER ASSET MANAGEMENT, INC. | Added | +69.6k |
| GOLDMAN SACHS GROUP INC | Added | +61.7k |
Biggest sellers
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -302.0k |
| JANUS HENDERSON GROUP PLC | Reduced | -163.8k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Reduced | -142.4k |
| TUDOR INVESTMENT CORP ET AL | Reduced | -140.0k |
| JANE STREET GROUP, LLC | Reduced | -126.3k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -116.0k |
| Bank of New York Mellon Corp | Reduced | -110.1k |
| Man Group plc | Sold out | -104.1k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -94.9k |
| CITADEL ADVISORS LLC | Reduced | -85.7k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.6m25.6k shares |
| CITADEL ADVISORS LLC | Reduced | $1.3m21.9k shares |
| GROUP ONE TRADING LLC | Reduced | $55.0k900 shares |
| SIMPLEX TRADING, LLC | Reduced | $48.0k800 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.4m22.9k shares |
| CITADEL ADVISORS LLC | Reduced | $953.5k15.6k shares |
| SIMPLEX TRADING, LLC | Reduced | $79.0k1.3k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution -1.5 pts · filed 2025-04-30 | 14.6% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.7% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.2% |
| STATE STREET CORP 13G · institution +0.2 pts · filed 2026-08-07 | 5.0% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q3 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 1 | $657.1k | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 1 | $169.7k | — |
| Q3 2024 | 0 | — | 0 | — | — |
None reported in Q3 2024.
Holders, Q3 2024
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 11.0m $675.2m | First filing |
| VANGUARD GROUP INC 0.01% of their portfolio | 8.6m $523.5m | Added +169.5k |
| STATE STREET CORP 0.01% of their portfolio | 3.6m $220.8m | Reduced -66.9k |
| MACQUARIE GROUP LTD 0.16% of their portfolio | 2.5m $152.0m | Reduced -19.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 1.7m $101.7m | Added +33.9k |
| FULLER & THALER ASSET MANAGEMENT, INC. 0.40% of their portfolio | 1.7m $100.9m | Added +69.6k |
| Zimmer Partners, LP 1.81% of their portfolio | 1.6m $96.4m | New |
| Capital Research Global Investors 0.02% of their portfolio | 1.5m $92.8m | Added +31.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.2m $72.5m | Reduced -491 |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 1.1m $69.5m | Reduced -71.3k |
| AQR CAPITAL MANAGEMENT LLC 0.09% of their portfolio | 1.0m $63.0m | Reduced -116.0k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.0m $61.1m | Added +21.6k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 917.0k $56.0m | Added +61.7k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 910.9k $55.7m | Added +102.2k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 882.6k $53.4m | Added +461.9k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 839.2k $51.3m | Reduced -110.1k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 817.8k $50.0m | Added +112.9k |
| Invesco Ltd. 0.01% of their portfolio | 786.6k $48.1m | Added +1.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 781.2k $47.7m | Reduced -22.0k |
| MORGAN STANLEY 0.00% of their portfolio | 738.7k $45.1m | Added +11.5k |
| ProShare Advisors LLC 0.10% of their portfolio | 678.8k $41.5m | Reduced -25.5k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 594.2k $36.3m | Added +54.2k |
| PRUDENTIAL FINANCIAL INC 0.05% of their portfolio | 575.3k $35.2m | Added +52.6k |
| BARCLAYS PLC 0.01% of their portfolio | 500.8k $30.6m | Added +21.7k |
| JUPITER ASSET MANAGEMENT LTD 0.25% of their portfolio | 468.1k $28.6m | Reduced -15.0k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 462.4k $28.3m | Reduced -19.0k |
| GABELLI FUNDS LLC 0.20% of their portfolio | 457.1k $27.9m | Reduced -500 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 425.7k $26.0m | Reduced -302.0k |
| OLD REPUBLIC INTERNATIONAL CORP 0.95% of their portfolio | 414.0k $25.3m | Unchanged |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 413.4k $25.3m | Reduced -163.8k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.27% of their portfolio | 389.7k $23.8m | Unchanged |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 388.1k $23.7m | Reduced -54.8k |
| Legal & General Group Plc 0.01% of their portfolio | 375.2k $22.9m | Reduced -7.3k |
| California Public Employees Retirement System 0.01% of their portfolio | 350.0k $21.4m | Added +405 |
| First Eagle Investment Management, LLC 0.04% of their portfolio | 322.9k $19.7m | Added +12.6k |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 299.4k $18.3m | Added +130.1k |
| Assenagon Asset Management S.A. 0.04% of their portfolio | 297.6k $18.2m | Reduced -31.8k |
| Hunter Perkins Capital Management, LLC 3.37% of their portfolio | 271.7k $16.6m | Added +21.6k |
| Brandywine Global Investment Management, LLC 0.11% of their portfolio | 261.9k $15.8m | Reduced -6.6k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 233.6k $14.3m | Reduced -8.1k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 232.8k $14.2m | Reduced -2.5k |
| GLENMEDE TRUST CO NA 0.07% of their portfolio | 232.2k $14.2m | Reduced -4.6k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 217.0k $13.3m | Reduced -79.0k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 215.3k $13.2m | Reduced -7.3k |
| Thrivent Financial for Lutherans 0.02% of their portfolio | 210.8k $12.9m | Added +34.1k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 208.9k $12.8m | Added +52.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 203.6k $12.4m | Reduced -80.7k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 197.1k $12.0m | Added +169.6k |
| GAMCO INVESTORS, INC. ET AL 0.12% of their portfolio | 191.4k $11.7m | Unchanged |
| Phocas Financial Corp. 1.26% of their portfolio | 182.6k $11.2m | Added +52.8k |
| Leeward Investments, LLC - MA 0.48% of their portfolio | 169.6k $10.4m | Reduced -575 |
| UBS Group AG 0.00% of their portfolio | 161.5k $9.9m | Added +36.7k |
| MACKENZIE FINANCIAL CORP 0.01% of their portfolio | 143.8k $8.8m | Added +16.6k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.19% of their portfolio | 141.6k $8.7m | Added +31.0k |
| MAIRS & POWER INC 0.08% of their portfolio | 140.4k $8.6m | Reduced -295 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 135.5k $8.3m | Reduced -1.7k |
| Invenomic Capital Management LP 0.46% of their portfolio | 135.2k $8.3m | New |
| Swiss National Bank 0.01% of their portfolio | 134.7k $8.2m | Added +500 |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.08% of their portfolio | 130.3k $8.0m | Reduced -3.8k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.05% of their portfolio | 130.1k $7.9m | Reduced -6.8k |
| CRAWFORD INVESTMENT COUNSEL INC 0.13% of their portfolio | 126.4k $7.7m | Added +3.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 124.8k $7.6m | Reduced -2.8k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 119.8k $7.3m | Reduced -142.4k |
| Corebridge Financial, Inc. 0.04% of their portfolio | 118.6k $7.3m | Reduced -4.9k |
| FMR LLC 0.00% of their portfolio | 117.8k $7.2m | Added +9.0k |
| PANAGORA ASSET MANAGEMENT INC 0.03% of their portfolio | 117.4k $7.2m | Reduced -1.5k |
| Insight Folios Inc 2.47% of their portfolio | 113.0k $6.9m | Added +6.9k |
| CHARTWELL INVESTMENT PARTNERS, LLC 0.23% of their portfolio | 108.6k $6.6m | Reduced -12.2k |
| HighTower Advisors, LLC 0.01% of their portfolio | 102.3k $6.3m | Added +16.5k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 98.1k $6.0m | Added +28.2k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 95.4k $5.8m | Reduced -200 |
| CITIGROUP INC 0.01% of their portfolio | 90.1k $5.5m | Added +41.9k |
| CONGRESS ASSET MANAGEMENT CO 0.04% of their portfolio | 90.0k $5.5m | Reduced -937 |
| GUGGENHEIM CAPITAL LLC 0.04% of their portfolio | 89.3k $5.5m | Reduced -8.9k |
| Clark Capital Management Group, Inc. 0.04% of their portfolio | 86.6k $5.3m | Added +30.9k |
| Retirement Systems of Alabama 0.02% of their portfolio | 84.7k $5.2m | Reduced -352 |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 80.9k $4.9m | Added +41.8k |
| STIFEL FINANCIAL CORP 0.01% of their portfolio | 80.7k $4.9m | Added +5.4k |
| BURNEY CO/ 0.17% of their portfolio | 79.7k $4.9m | Added +101 |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 77.7k $4.7m | Reduced -30.3k |
| Keeley-Teton Advisors, LLC 0.52% of their portfolio | 76.7k $4.7m | Reduced -2.0k |
| Cubist Systematic Strategies, LLC 0.07% of their portfolio | 75.9k $4.6m | Reduced -20.5k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 75.4k $4.6m | Added +21.0k |
| MetLife Investment Management, LLC 0.03% of their portfolio | 74.4k $4.5m | Reduced -237 |
| TUDOR INVESTMENT CORP ET AL 0.05% of their portfolio | 73.3k $4.5m | Reduced -140.0k |
| South Dakota Investment Council 0.09% of their portfolio | 71.8k $4.4m | Unchanged |
| MARTINGALE ASSET MANAGEMENT L P 0.10% of their portfolio | 71.7k $4.4m | Added +8.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 65.2k $4.0m | Reduced -1.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 61.8k $3.8m | Reduced -37.5k |
| FARMERS & MERCHANTS INVESTMENTS INC 0.11% of their portfolio | 60.1k $3.7m | Reduced -1.4k |
| Magellan Asset Management Ltd 0.04% of their portfolio | 58.9k $3.6m | Reduced -1.6k |
| Martin Capital Partners, LLC 1.77% of their portfolio | 58.7k $3.6m | Added +48.3k |
| JOHN G ULLMAN & ASSOCIATES INC 0.51% of their portfolio | 58.5k $3.6m | Reduced -1.5k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 58.3k $3.6m | Added +292 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 55.5k $3.4m | Reduced -51 |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.02% of their portfolio | 55.1k $3.4m | Added +17.5k |
| FINANCIAL COUNSELORS INC 0.05% of their portfolio | 54.4k $3.3m | Reduced -199 |
| MERITAGE PORTFOLIO MANAGEMENT 0.20% of their portfolio | 54.3k $3.3m | Reduced -2.4k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 53.9k $3.3m | Reduced -126.3k |
| Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio | 50.3k $3.1m | Reduced -1.7k |