Black Hills Corporation
US ˙ NYSE ˙ US0921131092

SecurityBKH / Black Hills Corporation
InstitutionCozad Asset Management Inc
Latest Disclosed Ownership48,569 shares
Latest Disclosed Value $ 3,371,205
Cozad Asset Management Inc reports 2.85% increase in ownership of BKH / Black Hills Corporation

On May 28, 2026 - Cozad Asset Management Inc filed a 13F-HR form disclosing ownership of 48,569 shares of Black Hills Corporation (US:BKH) valued at $3,371,174 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 47,225 shares of Black Hills Corporation. This represents a change in shares of 2.85% during the quarter. The current value of the position is $3,534,852 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)
2026-05-28 2026-03-31 13F Black Hills COM 092113109 48,569 1,344 2.85 3,371 2.84 0.2648
2026-02-13 2025-12-31 13F Black Hills COM 092113109 47,225 29,026 159.49 3,278 192.68 0.2542
2025-11-10 2025-09-30 13F Black Hills COM 092113109 18,199 0 0.00 1,121 9.80 0.0892
2025-08-12 2025-06-30 13F/A-1 Black Hills COM 092113109 18,199 0 0.00 1,021 -7.52 0.0892
2025-08-11 2025-06-30 13F Black Hills COM 092113109 18,199 0 1,104 0.1103
2025-05-08 2025-03-31 13F Black Hills COM 092113109 18,199 0 0.00 1,104 3.57 0.1103
2025-02-10 2024-12-31 13F Black Hills COM 092113109 18,199 0 0.00 1,065 -4.23 0.0993
2024-10-31 2024-09-30 13F Black Hills COM 092113109 18,199 0 0.00 1,112 12.44 0.1063
2024-08-02 2024-06-30 13F Black Hills COM 092113109 18,199 0 0.00 990 -0.40 0.0988
2024-05-08 2024-03-31 13F Black Hills COM 092113109 18,199 0 0.00 994 1.22 0.1035
2024-02-05 2023-12-31 13F Black Hills COM 092113109 18,199 0 0.00 982 6.63 0.1132
2023-11-02 2023-09-30 13F Black Hills COM 092113109 18,199 0 0.00 921 -16.06 0.1196
2023-07-26 2023-06-30 13F Black Hills COM 092113109 18,199 0 0.00 1,097 -4.53 0.1368
2023-05-01 2023-03-31 13F Black Hills COM 092113109 18,199 0 0.00 1,148 -10.31 0.1520
2023-02-08 2022-12-31 13F Black Hills COM 092113109 18,199 0 0.00 1,280 3.81 0.1799
2022-11-07 2022-09-30 13F Black Hills COM 092113109 18,199 0 0.00 1,233 -6.87 0.2000
2022-08-09 2022-06-30 13F Black Hills COM 092113109 18,199 0 0.00 1,324 -5.56 0.2063
2022-04-29 2022-03-31 13F Black Hills COM 092113109 18,199 72 0.40 1,402 9.62 0.1963
2022-02-01 2021-12-31 13F Black Hills COM 092113109 18,127 0 0.00 1,279 12.39 0.1812
2021-11-05 2021-09-30 13F Black Hills COM 092113109 18,127 0 0.00 1,138 -4.37 0.1773
2021-07-29 2021-06-30 13F Black Hills COM 092113109 18,127 0 0.00 1,190 -1.65 0.1868
2021-04-29 2021-03-31 13F Black Hills COM 092113109 18,127 0 0.00 1,210 8.62 0.1969
2021-02-16 2020-12-31 13F Black Hills COM 092113109 18,127 0 0.00 1,114 14.85 0.1991
2020-10-28 2020-09-30 13F Black Hills COM 092113109 18,127 5,000 38.09 970 30.38 0.1830
2020-08-07 2020-06-30 13F Black Hills COM 092113109 13,127 0 0.00 744 -11.53 0.1512
2020-05-07 2020-03-31 13F Black Hills COM 092113109 13,127 0 0.00 841 -18.43 0.2908
2020-01-16 2019-12-31 13F Black Hills COM 092113109 13,127 0 0.00 1,031 2.38 0.2751
2019-10-31 2019-09-30 13F Black Hills COM 092113109 13,127 0 0.00 1,007 -1.85 0.2909
2019-08-13 2019-06-30 13F Black Hills COM 092113109 13,127 0 0.00 1,026 5.56 0.2972
2019-04-18 2019-03-31 13F Black Hills COM 092113109 13,127 0 0.00 972 17.96 0.2936
2019-01-14 2018-12-31 13F Black Hills COM 092113109 13,127 0 0.00 824 7.99 0.2845
2018-11-13 2018-09-30 13F Black Hills COM 092113109 13,127 0 0.00 763 -5.10 0.2232
2018-08-15 2018-06-30 13F Black Hills COM 092113109 13,127 13,127 804 0.2502
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.