Black Hills Corporation
US ˙ NYSE ˙ US0921131092

SecurityBKH / Black Hills Corporation
InstitutionBnp Paribas Arbitrage, Sa
Latest Disclosed Ownership28,059 shares
Latest Disclosed Value $ 1,947,575
Bnp Paribas Arbitrage, Sa reports 15.79% increase in ownership of BKH / Black Hills Corporation

On May 12, 2026 - Bnp Paribas Arbitrage, Sa filed a 13F-HR form disclosing ownership of 28,059 shares of Black Hills Corporation (US:BKH) valued at $1,947,575 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 10, 2026 disclosing 24,233 shares of Black Hills Corporation. This represents a change in shares of 15.79% during the quarter. The current value of the position is $2,042,134 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)
2026-05-12 2026-03-31 13F Black Hills Equity 092113109 28,059 3,826 15.79 1,948 15.76 0.0009
2026-02-10 2025-12-31 13F Black Hills Equity 092113109 24,233 403 1.69 1,682 14.66 0.0008
2025-11-13 2025-09-30 13F Black Hills Equity 092113109 23,830 8,541 55.86 1,468 71.18 0.0008
2025-08-14 2025-06-30 13F Black Hills Equity 092113109 15,289 -2,740 -15.20 858 -21.59 0.0005
2025-05-14 2025-03-31 13F Black Hills Equity 092113109 18,029 -972 -5.12 1,093 -1.62 0.0006
2025-02-14 2024-12-31 13F Black Hills Equity 092113109 19,001 -42,808 -69.26 1,112 -70.59 0.0006
2024-11-13 2024-09-30 13F Black Hills Equity 092113109 61,809 -37,495 -37.76 3,778 -30.06 0.0025
2024-08-13 2024-06-30 13F Black Hills Equity 092113109 99,304 -2,470 -2.43 5,400 -2.81 0.0044
2024-05-01 2024-03-31 13F Black Hills Equity 092113109 101,774 52,837 107.97 5,557 110.45 0.0049
2024-02-14 2023-12-31 13F/A-2 Black Hills Equity 092113109 48,937 13,233 37.06 2,640 46.18 0.0030
2024-02-07 2023-12-31 13F/A-1 Black Hills Equity 092113109 48,937 13,233 2,640 0.0004
2024-02-07 2023-12-31 13F Black Hills Equity 092113109 48,937 2,640
2023-11-14 2023-09-30 13F Black Hills Equity 092113109 35,704 -2,853 -7.40 1,806 -22.26 0.0023
2023-08-09 2023-06-30 13F Black Hills Equity 092113109 38,557 -19,854 -33.99 2,323 -36.96 0.0029
2023-05-12 2023-03-31 13F BLACK HILLS EQUITY 092113109 58,411 21,577 58.58 3,686 42.28 0.0052
2023-02-14 2022-12-31 13F Black Hills Equity 092113109 36,834 -13,732 -27.16 2,591 -24.36 0.0040
2022-11-16 2022-09-30 13F/A-1 Black Hills Equity 092113109 50,566 -640 -1.25 3,425 -8.11 0.0055
2022-11-15 2022-09-30 13F Black Hills Equity 092113109 50,566 -640 3,425 0.0008
2022-08-12 2022-06-30 13F Black Hills Equity 092113109 51,206 25,629 100.20 3,726 89.23 0.0058
2022-05-18 2022-03-31 13F/A-1 Black Hills Equity 092113109 25,577 -29,417 -53.49 1,970 -49.25 0.0026
2022-02-09 2021-12-31 13F BLACK HILLS EQUITY 092113109 54,994 17,204 45.53 3,881 63.64 0.0055
2021-11-16 2021-09-30 13F/A-1 BLACK HILLS EQUITY 092113109 37,790 -21,705 -36.48 2,372 -39.27 0.0034
2021-11-12 2021-09-30 13F BLACK HILLS EQUITY 092113109 39,290 -20,205 2,102 0.0000
2021-08-10 2021-06-30 13F BLACK HILLS EQUITY 092113109 59,495 -28,124 -32.10 3,905 -33.26 0.0052
2021-05-07 2021-03-31 13F BLACK HILLS EQUITY 092113109 87,619 9,170 11.69 5,850 21.37 0.0086
2021-02-10 2020-12-31 13F BLACK HILLS EQUITY 092113109 78,449 39,159 99.67 4,821 129.41 0.0090
2020-10-30 2020-09-30 13F BLACK HILLS EQUITY 092113109 39,290 28,903 278.26 2,102 257.31 0.0030
2020-08-06 2020-06-30 13F BLACK HILLS EQUITY 092113109 10,387 -21,195 -67.11 589 -70.92 0.0010
2020-05-13 2020-03-31 13F BLACK HILLS EQUITY 092113109 31,582 -8,603 -21.41 2,022 -35.93 0.0041
2020-02-12 2019-12-31 13F BLACK HILLS EQUITY 092113109 40,185 15,658 63.84 3,156 67.78 0.0057
2019-11-07 2019-09-30 13F BLACK HILLS EQUITY 092113109 24,527 -4,047 -14.16 1,882 -15.76 0.0033
2019-07-30 2019-06-30 13F BLACK HILLS EQUITY 092113109 28,574 2,323 8.85 2,234 14.87 0.0045
2019-04-25 2019-03-31 13F BLACK HILLS EQUITY 092113109 26,251 11,282 75.37 1,944 107.03 0.0042
2019-02-12 2018-12-31 13F BLACK HILLS EQUITY 092113109 14,969 -9,318 -38.37 940 -33.40 0.0022
2018-11-07 2018-09-30 13F BLACK HILLS EQUITY 092113109 24,287 248 1.03 1,411 -4.15 0.0021
2018-07-25 2018-06-30 13F BLACK HILLS EQUITY 092113109 24,039 -5,632 -18.98 1,471 -8.69 0.0024
2018-05-11 2018-03-31 13F BLACK HILLS EQUITY 092113109 29,671 -13,903 -31.91 1,611 -38.49 0.0030
2018-03-05 2017-12-31 13F/A-1 BLACK HILLS EQUITY 092113109 43,574 19,313 79.61 2,619 56.83 0.0046
2018-02-01 2017-12-31 13F BLACK HILLS EQUITY 092113109 43,574 19,313 2,619
2017-11-03 2017-09-30 13F BLACK HILLS STOCK 092113109 24,261 -1,530 -5.93 1,671 -4.02 0.0041
2017-08-03 2017-06-30 13F BLACK HILLS STOCK 092113109 25,791 13,699 113.29 1,740 116.69 0.0052
2017-05-03 2017-03-31 13F BLACK HILLS STOCK 092113109 12,092 -9,405 -43.75 804 -39.07 0.0021
2017-02-14 2016-12-31 13F BLACK HILLS STOCK 092113109 21,497 4,716 28.10 1,319 28.33 0.0062
2016-10-05 2016-09-30 13F * BLACK HILLS CORP COM STOCK 092113109 16,781 -11,871 -41.43 1,027 -43.13 0.0042
2016-07-06 2016-06-30 13F * BLACK HILLS CORP COM STOCK 092113109 28,652 24,057 523.55 1,806 554.35 0.0081
2016-04-22 2016-03-31 13F * BLACK HILLS CORP COM STOCK 092113109 4,595 -2,430 -34.59 276 -15.34 0.0012
2016-04-19 2015-12-31 13F/A-1 * BLACK HILLS CORP COM STOCK 092113109 7,025 -1,574 -18.30 326 -8.17 0.0016
2016-02-10 2015-12-31 13F * BLACK HILLS CORP COM STOCK 092113109 7,025 326
2015-11-13 2015-09-30 13F * BLACK HILLS CORP COM STOCK 092113109 8,599 5,204 153.28 355 139.86 0.0009
2015-08-14 2015-06-30 13F BLACK HILLS CORP COM STOCK 092113109 3,395 2,649 355.09 148 300.00 0.0004
2015-05-15 2015-03-31 13F * BLACK HILLS CORP COM STOCK 092113109 746 746 0.00 38 0.0001
2015-02-11 2014-12-31 13F * BLACK HILLS CORP COM STOCK 092113109 0 -13,327 -100.00 0 -100.00
2014-11-12 2014-09-30 13F * BLACK HILLS CORP COM STOCK 092113109 13,327 13,237 14,707.78 638 12,660.00 0.0006
2014-08-14 2014-06-30 13F/A-1 * BLACK HILLS CORP COM STOCK 092113109 90 -6,672 -98.67 6 -98.72 0.0000
2014-08-14 2014-06-30 13F BLACK HILLS CORP COM STOCK 092113109 90 6
2014-05-13 2014-03-31 13F BLACK HILLS STOCK 092113109 6,762 5,229 341.10 391 387.50 0.0003
2014-04-02 2013-12-31 13F/A-1 BLACK HILLS STOCK 092113109 1,533 -10,582 -87.35 80 -86.75 0.0001
2013-11-13 2013-09-30 13F BLACK HILLS STOCK 092113109 12,115 -3,445 -22.14 604 -20.32 0.0004
2013-08-13 2013-06-30 13F BLACK HILLS STOCK 092113109 15,560 15,560 759 0.0005
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.