Black Hills Corporation
US ˙ NYSE ˙ US0921131092

SecurityBKH / Black Hills Corporation
InstitutionD.a. Davidson & Co.
Latest Disclosed Ownership13,067 shares
Latest Disclosed Value $ 907,049
D.a. Davidson & Co. reports 14.75% decrease in ownership of BKH / Black Hills Corporation

On May 5, 2026 - D.a. Davidson & Co. filed a 13F-HR form disclosing ownership of 13,067 shares of Black Hills Corporation (US:BKH) valued at $906,980 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 29, 2026 disclosing 15,327 shares of Black Hills Corporation. This represents a change in shares of -14.75% during the quarter. The current value of the position is $939,387 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)
2026-05-05 2026-03-31 13F BLACK HILLS COM 092113109 13,067 -2,260 -14.75 907 -14.76 0.0055
2026-01-29 2025-12-31 13F BLACK HILLS COM 092113109 15,327 -796 -4.94 1,064 7.15 0.0065
2025-10-22 2025-09-30 13F BLACK HILLS COM 092113109 16,123 883 5.79 993 16.14 0.0064
2025-07-30 2025-06-30 13F BLACK HILLS COM 092113109 15,240 -68 -0.44 855 -7.87 0.0060
2025-04-28 2025-03-31 13F BLACK HILLS COM 092113109 15,308 2,198 16.77 928 20.99 0.0075
2025-01-31 2024-12-31 13F BLACK HILLS COM 092113109 13,110 -557 -4.08 767 -8.14 0.0062
2024-11-13 2024-09-30 13F BLACK HILLS COM 092113109 13,667 365 2.74 835 15.49 0.0069
2024-08-01 2024-06-30 13F BLACK HILLS COM 092113109 13,302 173 1.32 723 0.98 0.0064
2024-05-13 2024-03-31 13F BLACK HILLS COM 092113109 13,129 13,129 717 0.0065
2022-07-28 2022-06-30 13F BLACK HILLS COM 092113109 0 -8,457 -100.00 0 -100.00
2022-05-12 2022-03-31 13F BLACK HILLS COM 092113109 8,457 94 1.12 651 10.34 0.0071
2022-01-31 2021-12-31 13F BLACK HILLS COM 092113109 8,363 8,363 590 0.0063
2017-11-08 2017-09-30 13F BLACK HILLS COM 092113109 0 -900 -100.00 0 -100.00
2017-08-11 2017-06-30 13F BLACK HILLS COM 092113109 900 400 80.00 60 81.82 0.0014
2017-05-12 2017-03-31 13F BLACK HILLS COM 092113109 500 -894 -64.13 33 -60.71 0.0008
2017-02-15 2016-12-31 13F BLACK HILLS COM 092113109 1,394 887 174.95 84 170.97 0.0019
2016-11-18 2016-09-30 13F/A-1 BLACK HILLS COM 092113109 507 -288 -36.23 31 -38.00 0.0008
2016-11-14 2016-09-30 13F BLACK HILLS COM 092113109 507 31
2016-08-13 2016-06-30 13F BLACK HILLS COM 092113109 795 -4,803 -85.80 50 -85.12 0.0015
2016-05-13 2016-03-31 13F BLACK HILLS COM 092113109 5,598 -2,915 -34.24 336 -14.94 0.0105
2016-02-12 2015-12-31 13F BLACK HILLS COM 092113109 8,513 4,332 103.61 395 129.65 0.0129
2015-11-13 2015-09-30 13F BLACK HILLS COM 092113109 4,181 -1,959 -31.91 172 -35.82 0.0060
2015-08-14 2015-06-30 13F BLACK HILLS COM 092113109 6,140 6,000 4,285.71 268 3,728.57 0.0088
2015-05-06 2015-03-31 13F BLACK HILLS COM 092113109 140 -300 -68.18 7 -69.57 0.0002
2015-02-12 2014-12-31 13F BLACK HILLS COM 092113109 440 5 1.15 23 15.00 0.0008
2014-11-12 2014-09-30 13F BLACK HILLS COM 092113109 435 95 27.94 20 0.00 0.0007
2014-07-29 2014-06-30 13F BLACK HILLS COM 092113109 340 0 0.00 20 5.26 0.0007
2014-05-05 2014-03-31 13F BLACK HILLS COM 092113109 340 0 0.00 19 11.76 0.0007
2014-02-13 2013-12-31 13F/A-1 BLACK HILLS COM 092113109 340 -80 -19.05 17 -10.53 0.0006
2014-02-12 2013-12-31 13F BLACK HILLS COM 092113109 340 17
2013-11-14 2013-09-30 13F BLACK HILLS COM 092113109 420 -29,545 -98.60 19 -98.70 0.0009
2013-08-16 2013-06-30 13F BLACK HILLS COM 092113109 29,965 29,965 1,460 0.0705
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.