MDU RES GROUP INC MDU
COM · Common Stock · CUSIP 552690109 · ISIN US5526901096
- SectorUtilities
- IndustryNatural Gas Distribution
- HeadquartersBismarck, ND
- 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 ($34.5m this quarter). Holder counts are more reliable. Shares outstanding: 210.3m as of 2026-07-30, 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 ≈ $21.22. Options: 1 managers hold calls ($6.4k notional), 0 hold puts (—).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 377 |
| Q4 2022 | 403 |
| Q1 2023 | 412 |
| Q2 2023 | 380 |
| Q3 2023 | 378 |
| Q4 2023 | 375 |
| Q1 2024 | 392 |
| Q2 2024 | 385 |
| Q3 2024 | 404 |
| Q4 2024 | 399 |
| Q1 2025 | 404 |
| Q2 2025 | 407 |
| Q3 2025 | 406 |
| Q4 2025 | 415 |
| Q1 2026 | 421 |
| Q2 2026 | 437 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 182 | 166 |
| Q4 2024 | 210 | 164 |
| Q1 2025 | 188 | 178 |
| Q2 2025 | 193 | 177 |
| Q3 2025 | 186 | 174 |
| Q4 2025 | 211 | 171 |
| Q1 2026 | 210 | 152 |
| Q2 2026 | 218 | 171 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $856.1k | $143.6k | 0.17 |
| Q4 2025 | $790.6k | $158.1k | 0.20 |
| Q1 2026 | $24.9k | $111.9k | 4.50 |
| Q2 2026 | $6.4k | $0 | 0.00 |
Biggest buyers
| BlackRock, Inc. | Added | +1.6m |
| HITE Hedge Asset Management LLC | Added | +1.6m |
| Beck Bode, LLC | New | +868.3k |
| CITADEL ADVISORS LLC | Added | +814.9k |
| T. Rowe Price Investment Management, Inc. | Added | +434.2k |
| TWO SIGMA INVESTMENTS, LP | Added | +415.9k |
| STATE STREET CORP | Added | +385.9k |
| EXCHANGE TRADED CONCEPTS, LLC | Added | +292.6k |
| MILLENNIUM MANAGEMENT LLC | Added | +290.8k |
| Legal & General Group Plc | Added | +286.9k |
Biggest sellers
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | Sold out | -2.5m |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | Reduced | -2.2m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Reduced | -703.4k |
| UBS Group AG | Reduced | -701.2k |
| River Road Asset Management, LLC | Reduced | -673.3k |
| Yaupon Capital Management LP | Sold out | -548.0k |
| FRONTIER CAPITAL MANAGEMENT CO LLC | Reduced | -518.9k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Sold out | -500.0k |
| WESTWOOD HOLDINGS GROUP INC | Reduced | -320.1k |
| Burkehill Global Management, LP | Sold out | -300.0k |
Biggest calls
| SIMPLEX TRADING, LLC | Reduced | $6.4k300 shares |
Biggest puts
| None |
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 |
|---|---|
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 13G · institution -0.4 pts · filed 2026-08-12 | 6.3% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.3% |
| DIMENSIONAL FUND ADVISORS LP 13G · institution +0.1 pts · filed 2026-10-08 | 5.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
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 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 1 | $499.2k | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 1 | $161.8k | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 1 | $104.2k | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 27.4m $580.1m | Added +1.6m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.84% of their portfolio | 13.1m $276.9m | Reduced -703.4k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.01% of their portfolio | 12.7m $269.2m | Added +165.4k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 10.4m $221.3m | Added +149.3k |
| EARNEST PARTNERS LLC 0.74% of their portfolio | 9.7m $206.3m | Reduced -155.0k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 9.4m $199.7m | Added +268.7k |
| STATE STREET CORP 0.00% of their portfolio | 7.4m $157.4m | Added +385.9k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 6.1m $129.2m | Reduced -112.9k |
| SEI INVESTMENTS CO 0.10% of their portfolio | 5.2m $110.9m | Reduced -32.7k |
| MORGAN STANLEY 0.00% of their portfolio | 4.1m $86.7m | Reduced -134.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 3.6m $75.4m | Added +62.0k |
| River Road Asset Management, LLC 0.80% of their portfolio | 3.4m $72.2m | Reduced -673.3k |
| WESTWOOD HOLDINGS GROUP INC 0.51% of their portfolio | 3.2m $68.3m | Reduced -320.1k |
| HITE Hedge Asset Management LLC 3.64% of their portfolio | 3.1m $66.5m | Added +1.6m |
| NORGES BANK 0.01% of their portfolio | 2.6m $55.9m | Not comparable |
| T. Rowe Price Investment Management, Inc. 0.04% of their portfolio | 2.6m $55.0m | Added +434.2k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.3m $49.4m | Reduced -33.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 2.2m $47.4m | Reduced -28.2k |
| Invesco Ltd. 0.00% of their portfolio | 2.0m $43.4m | Added +166.6k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.39% of their portfolio | 2.0m $42.2m | Reduced -518.9k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.05% of their portfolio | 2.0m $41.5m | Added +152.9k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 1.9m $40.5m | Added +814.9k |
| US BANCORP \DE\ 0.04% of their portfolio | 1.7m $35.9m | Reduced -1.6k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.6m $33.2m | Added +30.6k |
| NATIXIS ADVISORS, LLC 0.04% of their portfolio | 1.5m $32.8m | Reduced -143.8k |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC 1.34% of their portfolio | 1.5m $32.1m | Reduced -41.5k |
| FIRST TRUST ADVISORS LP 0.02% of their portfolio | 1.5m $31.7m | Added +12.0k |
| JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio | 1.5m $32.6m | Added +109.2k |
| Bragg Financial Advisors, Inc 0.82% of their portfolio | 1.5m $30.8m | Reduced -797 |
| NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio | 1.4m $29.8m | Added +6.2k |
| Perpetual Ltd 0.41% of their portfolio | 1.4m $29.0m | Added +41.6k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 1.3m $28.2m | Added +59.7k |
| Allspring Global Investments Holdings, LLC 0.04% of their portfolio | 1.2m $25.3m | Reduced -259.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.2m $25.0m | Added +73.6k |
| Legal & General Group Plc 0.00% of their portfolio | 1.1m $23.4m | Added +286.9k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 1.1m $22.8m | Reduced -150.5k |
| MANAGED ASSET PORTFOLIOS, LLC 2.52% of their portfolio | 1.0m $22.1m | Added +2.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 1.0m $21.4m | Added +17.7k |
| UBS Group AG 0.00% of their portfolio | 1.0m $21.3m | Reduced -701.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.03% of their portfolio | 957.1k $20.3m | Added +27.3k |
| Quantinno Capital Management LP 0.02% of their portfolio | 914.5k $19.4m | Added +262.0k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 898.5k $19.1m | Added +415.9k |
| Beck Bode, LLC 2.79% of their portfolio | 868.3k $18.4m | New |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 811.3k $17.2m | Reduced -42.5k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 808.8k $17.2m | Reduced -36.9k |
| Gotham Asset Management, LLC 0.04% of their portfolio | 726.7k $15.4m | Added +222.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 718.5k $15.2m | Added +78.9k |
| Public Sector Pension Investment Board 0.04% of their portfolio | 718.1k $15.2m | Reduced -13.1k |
| HRT FINANCIAL LP 0.03% of their portfolio | 679.7k $14.4m | Reduced -56.3k |
| NEEDHAM INVESTMENT MANAGEMENT LLC 0.42% of their portfolio | 665.0k $14.1m | Added +107.5k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 624.8k $13.3m | Added +290.8k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 615.6k $13.1m | Added +25.3k |
| LOOMIS SAYLES & CO L P 0.02% of their portfolio | 610.7k $13.0m | Reduced -40.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 542.4k $11.5m | Added +15.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 467.9k $9.9m | Reduced -6.8k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 450.8k $9.6m | Reduced -19.8k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 448.3k $9.5m | Added +128.7k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 443.9k $9.4m | Reduced -28.7k |
| California Public Employees Retirement System 0.01% of their portfolio | 439.0k $9.3m | Added +20.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 429.7k $9.4m | Reduced -129.2k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.01% of their portfolio | 416.6k $8.8m | Reduced -2.2m |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 403.0k $8.5m | Added +11.7k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 400.0k $8.5m | Reduced -87.1k |
| EXCHANGE TRADED CONCEPTS, LLC 0.04% of their portfolio | 398.6k $8.5m | Added +292.6k |
| Swiss National Bank 0.00% of their portfolio | 390.2k $8.3m | Added +6.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 380.4k $8.1m | Added +4.6k |
| JOHN G ULLMAN & ASSOCIATES INC 0.92% of their portfolio | 358.8k $7.6m | Reduced -17.8k |
| GABELLI FUNDS LLC 0.05% of their portfolio | 348.3k $7.4m | Reduced -47.5k |
| Hudson Value Partners, LLC 1.85% of their portfolio | 348.1k $7.4m | Reduced -2.6k |
| Advisors Asset Management, Inc. 0.11% of their portfolio | 345.5k $7.3m | Added +67.1k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.03% of their portfolio | 329.5k $7.0m | Reduced -33.6k |
| Nuveen, LLC 0.00% of their portfolio | 325.5k $6.9m | Added +13.3k |
| Phocas Financial Corp. 0.95% of their portfolio | 322.3k $6.8m | Added +158.3k |
| Covalis Capital LLP 0.38% of their portfolio | 320.2k $6.8m | Added +120.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 309.1k $6.6m | Reduced -10.6k |
| Creative Planning 0.00% of their portfolio | 307.9k $6.5m | Added +6.9k |
| Verition Fund Management LLC 0.04% of their portfolio | 300.0k $6.4m | Unchanged |
| Man Group plc 0.01% of their portfolio | 297.9k $6.3m | Reduced -80.5k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 290.6k $6.2m | Added +2.1k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.02% of their portfolio | 286.4k $6.1m | Added +264.7k |
| BESSEMER GROUP INC 0.01% of their portfolio | 285.4k $6.1m | Added +250 |
| CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio | 279.2k $5.9m | Added +4.2k |
| FIFTH THIRD BANCORP 0.01% of their portfolio | 266.2k $5.6m | Reduced -23.3k |
| Angeles Investment Advisors, LLC 0.31% of their portfolio | 245.4k $5.2m | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 235.2k $5.0m | Added +73.3k |
| Magellan Asset Management Ltd 0.11% of their portfolio | 231.5k $4.9m | New |
| CAPITAL FUND MANAGEMENT S.A. 0.03% of their portfolio | 227.0k $4.8m | Added +84.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 224.1k $4.8m | Reduced -11.7k |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 224.0k $4.8m | Reduced -61.0k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 221.2k $4.7m | Added +5.4k |
| LPL Financial LLC 0.00% of their portfolio | 217.0k $4.6m | Added +47.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 205.9k $4.4m | Added +19.2k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 199.7k $4.2m | Reduced -792 |
| Squarepoint Ops LLC 0.01% of their portfolio | 197.6k $4.2m | Added +27.5k |
| Oak Thistle LLC 0.39% of their portfolio | 190.4k $4.0m | New |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 190.1k $4.0m | Added +4.0k |
| Vennlight Capital Management, LP 2.62% of their portfolio | 184.2k $3.9m | New |
| Lighthouse Investment Partners, LLC 0.12% of their portfolio | 180.7k $3.8m | Added +162.2k |
| GAMCO INVESTORS, INC. ET AL 0.03% of their portfolio | 180.3k $3.8m | Reduced -6.1k |
| HENNESSY ADVISORS INC 0.12% of their portfolio | 179.7k $3.8m | Unchanged |