BHP

Key Takeaways

• BHP is one of the world's largest miners, and its mix has tilted toward copper, which now contributes roughly as much revenue as iron ore, positioning the company for the electrification demand wave [Source: BHP HY2026 results]. • The current price embeds modest assumptions, paying about 12 times operating income on a 41.5% operating margin, with the commodity cycle the dominant variable rather than the multiple. • The capital-allocation watch item is the Jansen potash project, whose Stage 1 b

Institutional ownership

723 institutional managers reported holding BHP in 13F filings for the quarter ended 2026-03-31. Together they hold about 5% of the company; the top 10 hold 3%. 118 opened new positions that quarter. Held by Fisher Investments, Morgan Stanley, Goldman Sachs, among others. On the short side, 17.5M shares were sold short as of the 2026-06-15 count, about 0.7% of shares outstanding (5.5 days of typical volume to cover).

Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.

Capital returns

BHP has cut its share count 10.5% over the past five years. It pays a dividend, and has paid one every year in our records (10 and counting). Cash returned over the past three years: $17.30B in dividends.

Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.

Compare BHP

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