Black Hills Corporation
US ˙ NYSE ˙ US0921131092

SecurityBKH / Black Hills Corporation
InstitutionComerica Bank
Latest Disclosed Ownership32,842 shares
Latest Disclosed Value $ 2,279,866
Comerica Bank reports 1.69% increase in ownership of BKH / Black Hills Corporation

On January 29, 2026 - Comerica Bank filed a 13F-HR form disclosing ownership of 32,842 shares of Black Hills Corporation (US:BKH) valued at $2,279,892 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 14, 2025 disclosing 32,295 shares of Black Hills Corporation. This represents a change in shares of 1.69% during the quarter. The current value of the position is $2,390,241 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)
2026-01-29 2025-12-31 13F BLACK HILLS COM 092113109 32,842 547 1.69 2,280 14.58 0.0091
2025-11-14 2025-09-30 13F BLACK HILLS COM 092113109 32,295 -1,704 -5.01 1,989 4.30 0.0075
2025-08-14 2025-06-30 13F BLACK HILLS COM 092113109 33,999 2,310 7.29 1,907 -0.73 0.0074
2025-05-14 2025-03-31 13F BLACK HILLS COM 092113109 31,689 -1,046 -3.20 1,922 0.31 0.0081
2025-02-14 2024-12-31 13F/A-1 BLACK HILLS COM 092113109 32,735 -3,061 -8.55 1,916 -12.44 0.0077
2025-02-14 2024-12-31 13F BLACK HILLS COM 092113109 32,735 -3,061 1,916 0.0064
2024-11-14 2024-09-30 13F BLACK HILLS COM 092113109 35,796 -2,773 -7.19 2,188 4.29 0.0087
2024-08-15 2024-06-30 13F BLACK HILLS COMMON 092113109 38,569 -1,661 -4.13 2,097 -4.51 0.0087
2024-05-16 2024-03-31 13F BLACK HILLS COMMON 092113109 40,230 -962 -2.34 2,197 -1.17 0.0095
2024-02-14 2023-12-31 13F BLACK HILLS COMMON 092113109 41,192 -430 -1.03 2,222 5.56 0.0102
2023-11-21 2023-09-30 13F BLACK HILLS COMMON 092113109 41,622 -141,424 -77.26 2,106 0.0110
2023-08-22 2023-06-30 13F BLACK HILLS EQU 092113109 183,046 144,486 374.70 0 -100.00
2023-01-26 2022-12-31 13F BLACK HILLS COM 092113109 38,560 -2,565 -6.24 3 -99.92 0.0214
2022-10-28 2022-09-30 13F BLACK HILLS COM 092113109 41,125 885 2.20 2,533 -13.16 0.0214
2022-08-02 2022-06-30 13F BLACK HILLS COM 092113109 40,240 255 0.64 2,917 -8.79 0.0240
2022-04-27 2022-03-31 13F BLACK HILLS COM 092113109 39,985 935 2.39 3,198 21.41 0.0232
2022-02-18 2021-12-31 13F BLACK HILLS COM 092113109 39,050 560 1.45 2,634 3.17 0.0194
2021-11-22 2021-09-30 13F BLACK HILLS COM 092113109 38,490 -5,637 -12.77 2,553 -19.39 0.0154
2021-08-26 2021-06-30 13F BLACK HILLS COM 092113109 44,127 -600 -1.34 3,167 1.80 0.0189
2021-04-28 2021-03-31 13F BLACK HILLS COM 092113109 44,727 7,893 21.43 3,111 42.77 0.0186
2021-01-28 2020-12-31 13F BLACK HILLS COM 092113109 36,834 -881 -2.34 2,179 -2.77 0.0138
2020-10-30 2020-09-30 13F BLACK HILLS COM 092113109 37,715 -501 -1.31 2,241 -4.56 0.0163
2020-07-31 2020-06-30 13F BLACK HILLS COM 092113109 38,216 2,996 8.51 2,348 6.63 0.0181
2020-05-01 2020-03-31 13F BLACK HILLS COM 092113109 35,220 -132 -0.37 2,202 -25.66 0.0202
2020-02-07 2019-12-31 13F BLACK HILLS COM 092113109 35,352 553 1.59 2,962 7.51 0.0224
2019-10-31 2019-09-30 13F BLACK HILLS COM 092113109 34,799 3,843 12.41 2,755 10.69 0.0218
2019-08-02 2019-06-30 13F BLACK HILLS COM 092113109 30,956 -3,435 -9.99 2,489 0.16 0.0199
2019-05-02 2019-03-31 13F BLACK HILLS COM 092113109 34,391 -445 -1.28 2,485 8.90 0.0201
2019-02-06 2018-12-31 13F BLACK HILLS COM 092113109 34,836 -638 -1.80 2,282 5.80 0.0194
2018-11-01 2018-09-30 13F BLACK HILLS COM 092113109 35,474 -4,926 -12.19 2,157 -12.32 0.0174
2018-08-01 2018-06-30 13F BLACK HILLS COM 092113109 40,400 -1,510 -3.60 2,460 7.71 0.0172
2018-05-01 2018-03-31 13F BLACK HILLS COM 092113109 41,910 -55 -0.13 2,284 -2.77 0.0163
2018-02-02 2017-12-31 13F BLACK HILLS COM 092113109 41,965 194 0.46 2,349 -13.99 0.0156
2017-11-06 2017-09-30 13F BLACK HILLS COM 092113109 41,771 49 0.12 2,731 -6.28 0.0198
2017-08-03 2017-06-30 13F BLACK HILLS COM 092113109 41,722 412 1.00 2,914 2.90 0.0218
2017-05-03 2017-03-31 13F BLACK HILLS COM 092113109 41,310 2,071 5.28 2,832 18.05 0.0215
2017-02-08 2016-12-31 13F BLACK HILLS COM 092113109 39,239 2,846 7.82 2,399 12.10 0.0190
2016-08-11 2016-06-30 13F BLACK HILLS COM 092113109 36,393 1,233 3.51 2,140 3.68 0.0185
2016-05-11 2016-03-31 13F BLACK HILLS COM 092113109 35,160 -1,142 -3.15 2,064 19.79 0.0184
2016-02-05 2015-12-31 13F BLACK HILLS COM 092113109 36,302 4,423 13.87 1,723 30.73 0.0169
2015-11-12 2015-09-30 13F BLACK HILLS COM 092113109 31,879 -32,575 -50.54 1,318 -53.16 0.0125
2015-08-13 2015-06-30 13F BLACK HILLS COM 092113109 64,454 32,230 100.02 2,814 73.17 0.0121
2015-05-15 2015-03-31 13F BLACK HILLS COM 092113109 32,224 -32,508 -50.22 1,625 -52.68 0.0138
2015-02-13 2014-12-31 13F BLACK HILLS COM 092113109 64,732 31,520 94.91 3,434 115.97 0.0148
2014-10-21 2014-09-30 13F BLACK HILLS COM 092113109 33,212 489 1.49 1,590 -20.86 0.0140
2014-08-12 2014-06-30 13F BLACK HILLS COM 092113109 32,723 -3,134 -8.74 2,009 -2.81 0.0171
2014-05-15 2014-03-31 13F BLACK HILLS COM 092113109 35,857 463 1.31 2,067 11.19 0.0158
2014-02-11 2013-12-31 13F BLACK HILLS COM 092113109 35,394 -3,831 -9.77 1,859 -4.96 0.0144
2013-11-12 2013-09-30 13F BLACK HILLS COM 092113109 39,225 -2,523 -6.04 1,956 -3.88 0.0136
2013-08-13 2013-06-30 13F/A-1 BLACK HILLS COM 092113109 41,748 41,748 2,035 0.0166
2013-08-08 2013-06-30 13F BLACK HILLS COM 092113109 166,266 8,104
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.