Black Hills Corp
476 hedge funds and large institutions have $5.83B invested in Black Hills Corp in 2026 Q2 according to their latest regulatory filings, with 59 funds opening new positions, 201 increasing their positions, 134 reducing their positions, and 52 closing their positions.
102% more call options, than puts
Call options by funds: $11.8M | Put options by funds: $5.81M
50% more repeat investments, than reductions
Existing positions increased: 201 | Existing positions reduced: 134
13% more first-time investments, than exits
New positions opened: 59 | Existing positions closed: 52
10% more capital invested
Capital invested by funds: $5.31B → $5.83B (+$514M)
2.2% more ownership
Funds ownership: 100.64% → 102.84% (+2.2%)
0% more funds holding
Funds holding: 476 → 476 (0)
20% less funds holding in top 10
Funds holding in top 10: 5 → 4 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AQR Capital Management
Greenwich,
Connecticut
|
+$46.9M |
| 2 |
MIM
Merewether Investment Management
Dallas,
Texas
|
+$33.5M |
| 3 |
Franklin Resources
San Mateo,
California
|
+$28.5M |
| 4 |
EGM
Engineers Gate Manager
New York
|
+$27.9M |
| 5 |
Citadel Advisors
Miami,
Florida
|
+$26.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Adage Capital Partners
Boston,
Massachusetts
|
-$65.2M |
| 2 |
Two Sigma Investments
New York
|
-$40.7M |
| 3 |
ZP
Zimmer Partners
New York
|
-$40.3M |
| 4 |
Capital Research Global Investors
Los Angeles,
California
|
-$33.1M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$24.1M |
BKH Hedge Fund Activity: Q2 2026 in Review
476 of the 8,296 institutional investors tracked by Wall St. Rank reported a position in Black Hills Corp (BKH) for Q2 2026, worth a combined $5.83B — up 9.7% from $5.31B a quarter earlier.
Buyers outnumbered sellers: 59 funds opened new BKH positions and 52 closed out — a net gain of 7 holders — while 201 added to existing stakes and 134 trimmed.
The largest buyer was AQR Capital Management, adding an estimated $46.9M. The largest seller was Adage Capital Partners, cutting an estimated $65.2M.
- 476 institutional investors held Black Hills Corp (BKH) as of Q2 2026, unchanged from Q1 2026.
- Funds reported $5.83B of Black Hills Corp stock for Q2 2026, up 9.7% quarter-over-quarter.
- 59 funds opened new Black Hills Corp positions in Q2 2026 and 52 closed out, a net change of +7 holders.
- The largest Black Hills Corp buyer in Q2 2026 was AQR Capital Management, an estimated $46.9M added.
- The largest Black Hills Corp seller in Q2 2026 was Adage Capital Partners, an estimated $65.2M sold.
Based on aggregated 13F filings for Q2 2026.