Black Hills Corporation
US ˙ NYSE ˙ US0921131092

SecurityBKH / Black Hills Corporation
InstitutionAdvisors Asset Management, Inc.
Latest Disclosed Ownership23,437 shares
Latest Disclosed Value $ 1,626,762
Advisors Asset Management, Inc. reports 20.02% decrease in ownership of BKH / Black Hills Corporation

On May 15, 2026 - Advisors Asset Management, Inc. filed a 13F-HR form disclosing ownership of 23,437 shares of Black Hills Corporation (US:BKH) valued at $1,626,762 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 12, 2026 disclosing 29,303 shares of Black Hills Corporation. This represents a change in shares of -20.02% during the quarter. The current value of the position is $1,705,745 USD.

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)
2026-05-15 2026-03-31 13F BLACK HILLS COM 092113109 23,437 -5,866 -20.02 1,627 -20.06 0.0270
2026-02-12 2025-12-31 13F BLACK HILLS COM 092113109 29,303 562 1.96 2,034 14.92 0.0341
2025-11-06 2025-09-30 13F BLACK HILLS COM 092113109 28,741 1,169 4.24 1,770 14.49 0.0300
2025-08-12 2025-06-30 13F BLACK HILLS COM 092113109 27,572 2,207 8.70 1,547 0.52 0.0277
2025-05-15 2025-03-31 13F BLACK HILLS COM 092113109 25,365 1,237 5.13 1,538 9.00 0.0289
2025-02-10 2024-12-31 13F BLACK HILLS COM 092113109 24,128 3,381 16.30 1,412 11.28 0.0260
2024-11-08 2024-09-30 13F BLACK HILLS COM 092113109 20,747 1,126 5.74 1,268 18.95 0.0233
2024-08-14 2024-06-30 13F BLACK HILLS COM 092113109 19,621 2,744 16.26 1,067 15.74 0.0208
2024-05-14 2024-03-31 13F BLACK HILLS COM 092113109 16,877 -258 -1.51 921 -0.32 0.0177
2024-02-14 2023-12-31 13F BLACK HILLS COM 092113109 17,135 1,470 9.38 924 16.67 0.0189
2023-11-14 2023-09-30 13F BLACK HILLS COM 092113109 15,665 -756 -4.60 792 -19.92 0.0171
2023-08-14 2023-06-30 13F BLACK HILLS COM 092113109 16,421 934 6.03 990 1.23 0.0202
2023-05-12 2023-03-31 13F BLACK HILLS COM 092113109 15,487 2,075 15.47 977 3.61 0.0199
2023-02-13 2022-12-31 13F BLACK HILLS COM 092113109 13,412 2,301 20.71 943 25.23 0.0194
2022-11-08 2022-09-30 13F BLACK HILLS COM 092113109 11,111 345 3.20 753 -3.83 0.0158
2022-08-08 2022-06-30 13F BLACK HILLS COM 092113109 10,766 764 7.64 783 1.69 0.0149
2022-05-17 2022-03-31 13F BLACK HILLS COM 092113109 10,002 280 2.88 770 12.24 0.0119
2022-02-15 2021-12-31 13F BLACK HILLS COM 092113109 9,722 -160 -1.62 686 10.65 0.0098
2021-11-12 2021-09-30 13F BLACK HILLS COM 092113109 9,882 -1,099 -10.01 620 -14.01 0.0094
2021-07-30 2021-06-30 13F BLACK HILLS COM 092113109 10,981 276 2.58 721 0.84 0.0106
2021-05-07 2021-03-31 13F BLACK HILLS COM 092113109 10,705 -655 -5.77 715 2.44 0.0111
2021-02-12 2020-12-31 13F BLACK HILLS COM 092113109 11,360 267 2.41 698 17.71 0.0115
2020-11-16 2020-09-30 13F BLACK HILLS COM 092113109 11,093 297 2.75 593 -3.10 0.0110
2020-08-12 2020-06-30 13F BLACK HILLS COM 092113109 10,796 -644 -5.63 612 -16.51 0.0119
2020-05-15 2020-03-31 13F BLACK HILLS COM 092113109 11,440 -1,588 -12.19 733 -28.35 0.0174
2020-05-20 2019-12-31 13F/A-1 BLACK HILLS COM 092113109 13,028 -563 -4.14 1,023 -1.92 0.0179
2020-02-14 2019-12-31 13F BLACK HILLS COM 092113109 13,028 -563 1,023 9,054.5172
2019-11-14 2019-09-30 13F BLACK HILLS COM 092113109 13,591 201 1.50 1,043 -0.38 0.0192
2019-11-14 2019-06-30 13F/A-1 BLACK HILLS COM 092113109 13,390 123 0.93 1,047 6.51 0.0189
2019-08-14 2019-06-30 13F BLACK HILLS COM 092113109 13,390 123 1,047
2019-05-15 2019-03-31 13F BLACK HILLS COM 092113109 13,267 260 2.00 983 20.32 0.0175
2019-02-06 2018-12-31 13F/A-1 BLACK HILLS COM 092113109 13,007 3,504 36.87 817 48.01 0.0164
2019-01-31 2018-12-31 13F BLACK HILLS COM 092113109 13,007 3,504 817
2018-11-15 2018-09-30 13F BLACK HILLS COM 092113109 9,503 3,692 63.53 552 55.06 0.0090
2018-08-22 2018-06-30 13F/A-1 BLACK HILLS COM 092113109 5,811 4,423 318.66 356 408.57 0.0060
2018-08-15 2018-06-30 13F BLACK HILLS COM 092113109 37,842 36,454 356
2018-05-15 2018-03-31 13F BLACK HILLS COM 092113109 1,388 1,180 567.31 70 438.46 0.0012
2018-02-13 2017-12-31 13F BLACK HILLS COM 092113109 208 208 13 0.0002
2017-11-07 2017-09-30 13F BLACK HILLS COM 092113109 0 -6,039 -100.00 0 -100.00
2017-08-02 2017-06-30 13F BLACK HILLS COM 092113109 6,039 -981 -13.97 407 -12.85 0.0068
2017-05-02 2017-03-31 13F BLACK HILLS COM 092113109 7,020 -2,185 -23.74 467 -17.20 0.0078
2016-10-31 2016-09-30 13F BLACK HILLS COM 092113109 9,205 -7,655 -45.40 564 -46.94 0.0093
2016-08-08 2016-06-30 13F BLACK HILLS COM 092113109 16,860 -1,434 -7.84 1,063 -3.36 0.0172
2016-05-16 2016-03-31 13F BLACK HILLS COM 092113109 18,294 5,091 38.56 1,100 79.45 0.0183
2016-02-10 2015-12-31 13F BLACK HILLS COM 092113109 13,203 2,980 29.15 613 44.92 0.0097
2015-11-16 2015-09-30 13F BLACK HILLS COM 092113109 10,223 1,889 22.67 423 16.21 0.0067
2015-08-11 2015-06-30 13F BLACK HILLS COM 092113109 8,334 -560 -6.30 364 -18.93 0.0050
2015-05-13 2015-03-31 13F BLACK HILLS COM 092113109 8,894 2,268 34.23 449 27.92 0.0060
2015-02-05 2014-12-31 13F BLACK HILLS COM 092113109 6,626 168 2.60 351 13.59 0.0047
2014-11-13 2014-09-30 13F BLACK HILLS COM 092113109 6,458 75 1.17 309 -21.17 0.0043
2014-08-14 2014-06-30 13F BLACK HILLS COM 092113109 6,383 -11,104 -63.50 392 -61.11 0.0054
2014-05-15 2014-03-31 13F BLACK HILLS COM 092113109 17,487 -12,810 -42.28 1,008 -36.64 0.0153
2014-02-03 2013-12-31 13F BLACK HILLS COM 092113109 30,297 -17,478 -36.58 1,591 -33.21 0.0256
2013-11-15 2013-09-30 13F BLACK HILLS COM 092113109 47,775 -13,648 -22.22 2,382 -20.44 0.0423
2013-08-14 2013-06-30 13F BLACK HILLS COM 092113109 61,423 61,423 2,994 0.0566
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.