Alliander N.V. shares are directly or indirectly held by Dutch provinces and municipalities. The largest shareholders of Alliander are the provinces of Gelderland and Noord-Holland, the municipality of Amsterdam and BV Houdstermaatschappij Falcon whose shares are held by the province of Friesland.
| Shareholder | % of shares |
| The province of Gelderland | 44.68% |
| BV Houdstermaatschappij Falcon | 12.65% |
| The province of Noord-Holland | 9.16% |
| The municipality of Amsterdam | 9.16% |
The other shares, less than 3% each, are held by:
| The municipality of Aalten | The municipality of Almere |
| The municipality of Alphen a/d Rijn | The municipality of Amersfoort |
| The municipality of Apeldoorn | The municipality of Barneveld |
| The municipality of Berkelland | The municipality of Boskoop |
| The municipality of Bronckhorst | The municipality of Doesburg |
| The municipality of Doetinchem | The municipality of Dronten |
| The municipality of Duiven | The municipality of Elburg |
| The municipality of Ermelo | The municipality of Geldermalsen |
| The municipality of Haarlem | The municipality of Harderwijk |
| The municipality of Hattem | The municipality of Hillegom |
| The municipality of Kaag and Braassem | The municipality of Katwijk |
| The municipality of Leiden | The municipality of Leiderderdorp |
| The municipality of Lelystad | The municipality of Lisse |
| The municipality of Lochem | The municipality of Montferland |
| The municipality of Nieuwkoop | The municipality of Noordwijk |
| The municipality of Noordwijkerhout | The municipality of Nunspeet |
| The municipality of Oegstgeest | The municipality of Oldebroek |
| The municipality of Oost Gelre | The municipality of Oude IJsselstreek |
| The municipality of Putten | The municipality of Rheden |
| The municipality of Rijnwaarden | The municipality of Rijnwoude |
| The municipality of Teylingen | The municipality of Voorschoten |
| The municipality of Wassenaar | The municipality of Westervoort |
| The municipality of Winterswijk | The municipality of Zeewolde |
| The municipality of Zevenaar | The municipality of Zevenhuizen-Moerkapelle |
| The municipality of Zoeterwoude | The municipality of Zuidplas |
| The municipality of Zutphen | NV Houdstermaarschappij EZW |
| NV Houdstermaatschappij GKNH | The province of Flevoland |
