13FPulse
中
BK

BKH BLACK HILLS CORP

2026Q2 · CUSIP 092113109 · Sector: Utilities

Normal

Fund flows are within the usual range

Funds that own it
466
Institutions that reported holding it to the SEC
Net decrease in holders
6
Last quarter 472 → now 466
How unusual is that
Bottom 20%
Stronger than only 19% of US stocks
What the filings say, in one paragraph

466 funds held BKH at the end of 2026Q2, down 6 from the quarter before. Fund flows are within the usual range — nothing unusual. On the business itself, revenue over the last 12 months was $2.3B(YoY +2.5%), the P/E is 18.3x, return on equity is 7.6%. BKH has had 11 buying rushes in its history, and the price moved +11.2% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Utilities sector.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

2013Q3: holders=200 2013Q4: holders=207 2014Q1: holders=213 2014Q2: holders=208 2014Q3: holders=206 2014Q4: holders=206 2015Q1: holders=201 2015Q2: holders=201 2015Q3: holders=211 2015Q4: holders=218 2016Q1: holders=241 2016Q2: holders=248 2016Q3: holders=234 2016Q4: holders=238 2017Q1: holders=245 2017Q2: holders=244 2017Q3: holders=246 2017Q4: holders=258 2018Q1: holders=262 2018Q2: holders=272 2018Q3: holders=273 2018Q4: holders=293 2019Q1: holders=305 2019Q2: holders=310 2019Q3: holders=312 2019Q4: holders=311 2020Q1: holders=301 2020Q2: holders=296 2020Q3: holders=290 2020Q4: holders=294 2021Q1: holders=294 2021Q2: holders=284 2021Q3: holders=290 2021Q4: holders=325 2022Q1: holders=324 2022Q2: holders=343 2022Q3: holders=330 2022Q4: holders=325 2023Q1: holders=329 2023Q2: holders=331 2023Q3: holders=342 2023Q4: holders=364 2024Q1: holders=396 2024Q2: holders=376 2024Q3: holders=395 2024Q4: holders=401 2025Q1: holders=416 2025Q2: holders=415 2025Q3: holders=434 2025Q4: holders=461 2026Q1: holders=472 2026Q2: holders=466 -35 -17.5 +0 +17.5 +35 180338496 13Q315Q116Q318Q119Q321Q122Q324Q125Q326Q2 Net change in holders (bars) Total funds holding (line)

What happened after each past buying rush 11 times in its history

Quarter of the rush How unusual then Price, next 3 months Price, next 6 months
2025Q4 Top 20% +2.0% —
2025Q3 Top 20% +6.1% +8.2%
2025Q1 Top 20% +4.4% +20.5%
2024Q3 Top 20% -4.2% -6.5%
2024Q1 Top 10% +2.4% +11.8%
2023Q3 Top 20% +3.6% +14.0%
2022Q2 Top 10% -14.4% -17.0%
2021Q4 Top 20% +11.5% +19.3%

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾
Of them, large funds
193
Change in large funds
+6
Total value they hold
$5.8B
Funds buying for the first time
59
Funds that sold out entirely
65
Price change that quarter
-1.9%
Funds holding puts (bearish)
4
Funds holding calls (bullish)
3

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)
18.3
EPS (TTM)
$3.96
EPS YoY
0.0%
Revenue (TTM)
$2.3B
Revenue YoY
+2.5%
Net margin
13.0%
ROE
7.6%
Debt ratio
64.3%
FCF (TTM)
-$305M
Dividend (TTM)
$2.76
Quarterly Revenue & EPS
2021-09-30: EPS 0.70 2021-12-31: EPS 1.10 2022-03-31: EPS 1.82 2022-06-30: EPS 0.52 2022-09-30: EPS 0.54 2022-12-31: EPS 1.09 2023-03-31: EPS 1.73 2023-06-30: EPS 0.35 2023-09-30: EPS 0.67 2023-12-31: EPS 1.16 2024-03-31: EPS 1.87 2024-06-30: EPS 0.33 2024-09-30: EPS 0.35 2024-12-31: EPS 1.36 2025-03-31: EPS 1.87 2025-06-30: EPS 0.38 2025-09-30: EPS 0.34 2025-12-31: EPS 1.39 2026-03-31: EPS 1.73 2026-06-30: EPS 0.50 0M 461M 921M $M 0.00 1.03 2.06 20212022202320242025202606/26 Revenue EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time
4Y median 14 11 15 20 20222023202420252026

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow
-532M-161M210M 20162017201820192020202120222023202420252026
Latest quarter $-91M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

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2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.