Stock ownership · SEC 13F · Q4 2025

BLACK HILLS CORP

Who owns BLACK HILLS CORP (CUSIP 092113109)? A look at the institutions behind it, how tightly they hold it, and the latest quarter's moves.

$849K
Reported value
3
Institutions
100%
Top-5 share

The verdict

As of Q4 2025, 3 institutions report $849K in BLACK HILLS CORP positions, ownership that is dominated by its top few institutional owners.

3
institutions hold it
$849K
reported 13F value
100%
held by top 5

Based on long positions reported to the SEC as of Q4 2025; 13F omits shorts, options and non-US holdings.

How 13F ownership is computed · All tracked stocks · Concentration rankings

SEC Form 13F-HR ownership desk

CUSIP 092113109 · Q4 2025 $1M reported

VALUE-TRACE · HOLDERS-FOCUS · CONC-DOM · PHOTO-UNK · ACTIVITY-LIGHT · BOOK-MID

  • VALUE-TRACE $0.8M
  • HOLDERS-FOCUS 3 filers
  • CONC-DOM 100% top-5
  • PHOTO-UNK No peer
  • ACTIVITY-LIGHT 2 new
  • BOOK-MID 7Q history

Read with: Ownership concentration guide - BLACK HILLS CORP's top-five holders account for 100% of reported value — read concentration before treating any single filer as a signal.

Largest institutional holders of BLACK HILLS CORP
  1. 1
    Pacer Advisors, Inc. $615K
  2. 2
    DGS Capital Management, LLC $231K
  3. 3
    Bell Investment Advisors, Inc $3K

Top 3 reported holders by value · Q4 2025

Institutional ownership over time

The number of institutions reporting a BLACK HILLS CORP position has fallen from 4 to 3 over the last 7 quarters of 13F filings.

1.522.533.544.5 Q1'24Q3'24Q4'24Q1'25Q2'25Q3'25Q4'25 3
Distinct 13F filers holding BLACK HILLS CORP, by quarter

Top Institutional Holders

# Institution Shares Value Share of reported
1 Pacer Advisors, Inc. 8,865 $615K 72.5%
2 DGS Capital Management, LLC 3,330 $231K 27.2%
3 Bell Investment Advisors, Inc 36 $3K 0.3%

Investment Discretion

SEC Form 13F requires each institutional filer to report whether it exercises sole or shared discretion over a position. Among BLACK HILLS CORP's reported holders for Q4 2025, by reported value:

Sole discretion (SOLE)
100.0%

Latest Quarter Activity · Q4 2025

New positions (2)

Pacer Advisors, Inc. $615K
DGS Capital Management, LLC $231K

Complete exits (3)

CIBC Bancorp USA Inc. exited
CIBC Private Wealth Group LLC exited
JPMORGAN CHASE & CO (JPM, AMJB, VYLD, JPM-PC, JPM-PD, JPM-PJ, JPM-PK, JPM-PL, JPM-PM) exited

Frequently Asked Questions

How many institutions hold BLACK HILLS CORP?▼
BLACK HILLS CORP is held by 3 institutional investors per the latest SEC Form 13F filings as of Q4 2025.
What is the total institutional value of BLACK HILLS CORP?▼
Institutions report $849K of BLACK HILLS CORP as of Q4 2025.
How concentrated is ownership of BLACK HILLS CORP?▼
The top five institutional holders account for 100% of the reported institutional value in BLACK HILLS CORP, making ownership dominated by its top few institutional owners.
Who is the largest institutional holder of BLACK HILLS CORP?▼
Pacer Advisors, Inc. is the largest reported holder of BLACK HILLS CORP with $615K across 8,865 shares as of Q4 2025.

Source: U.S. Securities and Exchange Commission (SEC) - EDGAR Form 13F-HR institutional holdings filings · Q4 2025 13F-HR discloses long US-listed equity positions of managers with $100M+ qualifying assets, filed within 45 days of period end. Short positions and most derivatives are not disclosed.

PlainFundData is rendered directly from SEC EDGAR Form 13F-HR institutional holdings filings, no number is typed in by an editor. Holder lists, concentration, and reported value on this page are aggregated live from those 13F-HR extracts. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of 2026-05-16.