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$MDU
$19.49 -$0.11 (0.56%) Close

Ownership

13F as of Q2 2026 · 210.3M shares outstanding

Who owns MDU?

By type of holder
Institutions 92.3% Insiders 0.8% Everyone else 6.9%
Concentration Top 10 holders own 50.1%
BlackRock, Inc. 13.0% · Barrow Hanley Mewhinney & Strauss LLC 6.2%
Institutional ownership
92.3%
+1.2 pts vs last qtr
Institutional holders
437
+15 vs last qtr
Net shares bought
+2.5M
by institutions in Q2 2026
New / sold out
66 / 51
positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026
  • Norges Bank NEW +2.6M
  • BlackRock, Inc. +1.6M

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Biggest sellers in Q2 2026
  • Vaughan Nelson Investment Management, L.P. SOLD OUT −2.5M
  • Nomura Asset Management International Inc. −2.2M

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Who is planning to sell?

No insider has filed a notice of proposed sale (Form 144) for MDU Resources Group, Inc. in the last 12 months.

Is your stake being diluted?

Diluted share count, FY2016–FY2025
+4.9%
+0.54% a year
Each share's claim on the business
−4.7%
shrank without buying or selling a share
Spent on buybacks vs paid in stock
$25.6M vs $61.7M
over 10 fiscal years
Diluted shares, split-adjusted
189.7M198.6M207.4M2016: 195.6M shares'162017: 195.7M shares'172018: 196.2M shares'182019: 198.6M shares'192020: 200.6M shares'202021: 202.4M shares'212022: 203.5M shares'222023: 203.9M shares'232024: 204.7M shares'242025: 205.3M shares'25
Buybacks Stock-based comp
$0$6.5M$13.1M2016 buybacks: $02016 stock comp: $0'162017 buybacks: $1.7M2017 stock comp: $0'172018 buybacks: $5.0M2018 stock comp: $0'182019 buybacks: $02019 stock comp: $7.4M'192020 buybacks: $02020 stock comp: $13.1M'202021 buybacks: $6.7M2021 stock comp: $12.9M'212022 buybacks: $7.4M2022 stock comp: $7.9M'222023 buybacks: $4.8M2023 stock comp: $5.5M'232024 buybacks: $02024 stock comp: $8.4M'242025 buybacks: $02025 stock comp: $6.6M'25

How patient are the owners?

Institutional shares by how long they've been held
5+ years63% 3–5 years12% 1–3 years11% Under 1 year14%
Quarterly turnover
7.5%
of institutional shares changed hands
Top 10 managers, median time held
5 years

Super Investors

Investment managers reporting MDU on Form 13F
B
BlackRock, Inc.
Shares
27.4M
% of company
13.00%
Change vs last qtr
+1.6M (+6.4%)
Held since
≤2021
BH
Barrow Hanley Mewhinney & Strauss LLC
Shares
13.1M
% of company
6.21%
Change vs last qtr
−703.4K (−5.1%)
Held since
2021

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Institutional Funds

Mutual funds and ETFs reporting MDU on Form N-PORT; together they hold 41.8% of the company
IC
iShares Core S&P Small-Cap ETF
iShares Trust
Position value
$267M
% of company
5.99%
% of the fund
0.24%
As of
June 30, 2026
VT
Vanguard Total Stock Market Index Fund
Vanguard Index Funds
Position value
$141M
% of company
3.16%
% of the fund
0.01%
As of
June 30, 2026

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Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G
KN
Kivisto Nicole A
Insider
Shares
548.8K
% of company
0.26%
Change vs last qtr
—
Held since
—
VJ
Vollmer Jason L
Insider
Shares
325.0K
% of company
0.15%
Change vs last qtr
—
Held since
—

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