MDU Resources Group, Inc.
MX ˙ BMV ˙ US5526901096
SecurityMX:MDU / MDU Resources Group, Inc.
InstitutionBaird Financial Group, Inc.
Latest Disclosed Ownership167,919 shares
Latest Disclosed Value $ 3,479,282
Baird Financial Group, Inc. reports 46.31% decrease in ownership of MDU / MDU Resources Group, Inc.

On May 14, 2026 - Baird Financial Group, Inc. filed a 13F-HR form disclosing ownership of 167,919 shares of MDU Resources Group, Inc. (MX:MDU) valued at $3,479,282 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 312,765 shares of MDU Resources Group, Inc.. This represents a change in shares of -46.31% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F MDU RES GROUP COM 552690109 167,919 -144,846 -46.31 3,479 -43.01 0.0029
2026-02-13 2025-12-31 13F MDU RES GROUP INC COM COMMON 552690109 312,765 -89,902 -22.33 6,105 -14.87 0.0095
2025-11-13 2025-09-30 13F MDU RES GROUP INC COM COMMON 552690109 402,667 -7,525 -1.83 7,172 4.89 0.0115
2025-08-13 2025-06-30 13F MDU RES GROUP INC COM COMMON 552690109 410,192 -1,480 -0.36 6,838 -1.78 0.0120
2025-05-15 2025-03-31 13F MDU RES GROUP INC COM COMMON 552690109 411,672 -51,316 -11.08 6,961 -16.56 0.0134
2025-02-14 2024-12-31 13F MDU RESOURCES GROUP COMMON 552690109 462,988 18,754 4.22 8,343 -31.48 0.0160
2024-11-14 2024-09-30 13F MDU RESOURCES GROUP COMMON 552690109 444,234 30,433 7.35 12,176 17.23 0.0236
2024-08-14 2024-06-30 13F MDU RESOURCES GROUP COMMON 552690109 413,801 32,394 8.49 10,386 8.06 0.0215
2024-05-14 2024-03-31 13F MDU RESOURCES GROUP COMMON 552690109 381,407 75,869 24.83 9,611 58.89 0.0202
2024-02-14 2023-12-31 13F MDU RESOURCES GROUP COMMON 552690109 305,538 2,341 0.77 6,050 1.90 0.0138
2023-11-13 2023-09-30 13F MDU RESOURCES GROUP COMMON 552690109 303,197 24,593 8.83 5,937 1.77 0.0162
2023-08-11 2023-06-30 13F MDU RESOURCES GROUP COMMON 552690109 278,604 15,859 6.04 5,834 -27.16 0.0154
2023-05-15 2023-03-31 13F MDU RESOURCES GROUP COMMON 552690109 262,745 48,431 22.60 8,008 133,366.67 0.0198
2023-02-13 2022-12-31 13F MDU RESOURCES GROUP COMMON 552690109 214,314 17,057 8.65 7 -99.89 0.0171
2022-11-15 2022-09-30 13F MDU RESOURCES GROUP COMMON 552690109 197,257 8,763 4.65 5,395 6.05 0.0159
2022-08-08 2022-06-30 13F MDU RESOURCES GROUP COMMON 552690109 188,494 12,339 7.00 5,087 8.37 0.0141
2022-05-13 2022-03-31 13F MDU RESOURCES GROUP COMMON 552690109 176,155 11,424 6.93 4,694 -7.60 0.0116
2022-02-09 2021-12-31 13F MDU RESOURCES GROUP COMMON 552690109 164,731 23,495 16.64 5,080 21.24 0.0119
2021-11-12 2021-09-30 13F MDU RESOURCES GROUP COMMON 552690109 141,236 44,467 45.95 4,190 38.15 0.0107
2021-08-11 2021-06-30 13F MDU RESOURCES GROUP COMMON 552690109 96,769 24,381 33.68 3,033 32.56 0.0079
2021-05-13 2021-03-31 13F MDU RESOURCES GROUP COMMON 552690109 72,388 11,321 18.54 2,288 42.20 0.0064
2021-02-11 2020-12-31 13F MDU RESOURCES GROUP COMMON 552690109 61,067 5,999 10.89 1,609 29.86 0.0048
2020-11-12 2020-09-30 13F MDU RESOURCES GROUP COMMON 552690109 55,068 6,349 13.03 1,239 14.62 0.0042
2020-10-22 2020-06-30 13F/A-1 MDU RESOURCES GROUP COMMON 552690109 48,719 6,717 15.99 1,081 19.71 0.0041
2020-08-14 2020-06-30 13F M D U RESOURCES GROUP COMMON 552690109 28,738 -13,264 854 1,692.4340
2020-05-14 2020-03-31 13F MDU RESOURCES GROUP COMMON 552690109 42,002 10,526 33.44 903 -3.42 0.0041
2020-02-14 2019-12-31 13F M D U RESOURCES GROUP COMMON 552690109 31,476 3,923 14.24 935 20.33 0.0034
2019-11-14 2019-09-30 13F MDU RESOURCES GROUP Common 552690109 27,553 3,010 12.26 777 22.75 0.0031
2019-08-14 2019-06-30 13F MDU RESOURCES GROUP COMMON 552690109 24,543 6,141 33.37 633 33.26 0.0025
2019-05-14 2019-03-31 13F MDU RESOURCES GROUP COMMON 552690109 18,402 -2,052 -10.03 475 -2.66 0.0028
2019-02-14 2018-12-31 13F MDU RESOURCES GROUP COMMON 552690109 20,454 -44,345 -68.43 488 -70.53 0.0033
2018-11-13 2018-09-30 13F MDU Resources Group COMMON 552690109 64,799 11 0.02 1,656 -10.87 0.0104
2018-08-13 2018-06-30 13F MDU RESOURCES GROUP COMMON 552690109 64,788 -3,800 -5.54 1,858 -3.78 0.0126
2018-05-14 2018-03-31 13F MDU RESOURCES GROUP COMMON 552690109 68,588 1,418 2.11 1,931 6.92 0.0136
2018-02-09 2017-12-31 13F MDU RESOURCES GROUP COMMON 552690109 67,170 -4,776 -6.64 1,806 -3.27 0.0128
2017-11-14 2017-09-30 13F MDU RESOURCES GROUP COMMON 552690109 71,946 -27,372 -27.56 1,867 -28.25 0.0141
2017-08-14 2017-06-30 13F MDU RESOURCES GROUP COMMON 552690109 99,318 1,795 1.84 2,602 -2.51 0.0204
2017-06-19 2017-03-31 13F/A-1 MDU RESOURCES GROUP COMMON 552690109 97,523 -367 -0.37 2,669 -5.22 0.0216
2017-05-09 2017-03-31 13F MDU RESOURCES GROUP COMMON 552690109 97,523 2,669
2017-02-10 2016-12-31 13F MDU RESOURCES GROUP COMMON 552690109 97,890 -11,567 -10.57 2,816 1.11 0.0245
2016-11-10 2016-09-30 13F MDU RESOURCES GROUP COMMON 552690109 109,457 81,295 288.67 2,785 310.16 0.0249
2016-08-11 2016-06-30 13F MDU RESOURCES GROUP COMMON 552690109 28,162 -21,417 -43.20 679 -29.64 0.0062
2016-05-12 2016-03-31 13F MDU RESOURCES GROUP COMMON 552690109 49,579 2,539 5.40 965 11.95 0.0092
2016-02-11 2015-12-31 13F MDU RESOURCES GROUP COMMON 552690109 47,040 1,143 2.49 862 9.25 0.0086
2015-11-12 2015-09-30 13F MDU RESOURCES GROUP COMMON 552690109 45,897 6,613 16.83 789 2.87 0.0084
2015-08-14 2015-06-30 13F MDU RESOURCES GROUP COMMON 552690109 39,284 39,284 767 0.0075
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.