Alliander shares are directly or indirectly held by Dutch provinces and municipalities. Alliander’s largest shareholders are the provinces of Gelderland (44.68%) and Noord-Holland (9.16%), the Municipality of Amsterdam (9.16%) and B.V. Houdstermaatschappij Falcon (12.65%) whose shares are held by the Province of Friesland.
Shareholders who each hold less than 3% of the shares:
| Municipality of Aalten | Municipality of Montferland |
| Municipality of Almere | Municipality of Nieuwkoop |
| Municipality of Alphen aan den Rijn | Municipality of Nijkerk |
| Municipality of Amersfoort | Municipality of Noordwijk |
| Municipality of Apeldoorn | Municipality of Noordwijkerhout |
| Municipality of Barneveld | Municipality of Nunspeet |
| Municipality of Berkelland | Municipality of Oegstgeest |
| Municipality of Boskoop | Municipality of Oldebroek |
| Municipality of Bronkhorst | Municipality of Oost Gelre |
| Municipality of Doesburg | Municipality of Oude IJsselstreek |
| Municipality of Doetinchem | Municipality of Putten |
| Municipality of Dronten | Municipality of Rheden |
| Municipality of Duiven | Municipality of Rijnwaarden |
| Municipality of Elburg | Municipality of Rijnwoude |
| Municipality of Ermelo | Municipality of Teylingen |
| Municipality of Geldermalsen | Municipality of Voorschoten |
| Municipality of Haarlem | Municipality of Wassenaar |
| Municipality of Harderwijk | Municipality of Westervoort |
| Municipality of Hattem | Municipality of Winterswijk |
| Municipality of Hillegom | Municipality of Zeewolde |
| Municipality of Kaag en Braassem | Municipality of Zevenaar |
| Municipality of Katwijk | Municipality of Zoeterwoude |
| Municipality of Leiden | Municipality of Zuidplas |
| Municipality of Leiderdorp | Municipality of Zutphen |
| Municipality of Lelystad | N.V. Houdstermaatschappij GKNH |
| Municipality of Lisse | N.V. Houdstermaatschappij EZW |
| Municipality of Lochem | Province Flevoland |
