Black Hills Corporation
US ˙ NYSE ˙ US0921131092

SecurityBKH / Black Hills Corporation
InstitutionGeode Capital Management, Llc
Latest Disclosed Ownership1,994,815 shares
Latest Disclosed Value $ 138,492,113
Geode Capital Management, Llc reports 5.29% increase in ownership of BKH / Black Hills Corporation

On May 15, 2026 - Geode Capital Management, Llc filed a 13F-HR form disclosing ownership of 1,994,815 shares of Black Hills Corporation (US:BKH) valued at $138,460,109 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 1,894,539 shares of Black Hills Corporation. This represents a change in shares of 5.29% during the quarter. The current value of the position is $145,182,636 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 1,994,815 100,276 5.29 138,492 5.28 0.0046
2026-02-09 2025-12-31 13F BLACK HILLS COM 092113109 1,894,539 55,232 3.00 131,548 16.10 0.0043
2025-11-12 2025-09-30 13F BLACK HILLS COM 092113109 1,839,307 16,951 0.93 113,304 10.81 0.0072
2025-08-08 2025-06-30 13F BLACK HILLS COM 092113109 1,822,356 36,818 2.06 102,252 -5.60 0.0072
2025-05-13 2025-03-31 13F BLACK HILLS COM 092113109 1,785,538 87,304 5.14 108,317 8.97 0.0085
2025-02-12 2024-12-31 13F BLACK HILLS COM 092113109 1,698,234 35,077 2.11 99,402 -2.23 0.0077
2024-11-12 2024-09-30 13F BLACK HILLS COM 092113109 1,663,157 33,853 2.08 101,671 14.73 0.0082
2024-08-09 2024-06-30 13F BLACK HILLS COM 092113109 1,629,304 83,700 5.42 88,619 5.00 0.0078
2024-05-13 2024-03-31 13F BLACK HILLS COM 092113109 1,545,604 67,231 4.55 84,403 5.81 0.0078
2024-02-13 2023-12-31 13F BLACK HILLS COM 092113109 1,478,373 81,797 5.86 79,768 12.89 0.0083
2023-11-13 2023-09-30 13F BLACK HILLS COM 092113109 1,396,576 -14,638 -1.04 70,662 -16.91 0.0084
2023-08-11 2023-06-30 13F BLACK HILLS COM 092113109 1,411,214 98,435 7.50 85,040 2.66 0.0100
2023-05-15 2023-03-31 13F BLACK HILLS COM 092113109 1,312,779 44,760 3.53 82,836 92,974.16 0.0108
2023-02-13 2022-12-31 13F BLACK HILLS COM 092113109 1,268,019 111,853 9.67 89 -99.89 0.0125
2022-11-14 2022-09-30 13F BLACK HILLS COM 092113109 1,156,166 20,010 1.76 78,307 -5.29 0.0119
2022-08-12 2022-06-30 13F BLACK HILLS COM 092113109 1,136,156 14,043 1.25 82,678 -4.34 0.0121
2022-05-13 2022-03-31 13F BLACK HILLS COM 092113109 1,122,113 37,582 3.47 86,425 12.92 0.0108
2022-02-11 2021-12-31 13F BLACK HILLS COM 092113109 1,084,531 45,078 4.34 76,535 17.32 0.0092
2021-11-12 2021-09-30 13F BLACK HILLS COM 092113109 1,039,453 -33,729 -3.14 65,236 -7.38 0.0088
2021-08-13 2021-06-30 13F BLACK HILLS COM 092113109 1,073,182 47,508 4.63 70,432 2.84 0.0097
2021-05-12 2021-03-31 13F BLACK HILLS COM 092113109 1,025,674 79,067 8.35 68,484 17.73 0.0105
2021-02-12 2020-12-31 13F BLACK HILLS COM 092113109 946,607 42,602 4.71 58,169 20.30 0.0098
2020-11-13 2020-09-30 13F BLACK HILLS COM 092113109 904,005 -15,416 -1.68 48,355 -7.18 0.0095
2020-08-13 2020-06-30 13F BLACK HILLS COM 092113109 919,421 36,188 4.10 52,094 -7.88 0.0111
2020-05-14 2020-03-31 13F BLACK HILLS COM 092113109 883,233 65,290 7.98 56,553 -11.97 0.0147
2020-02-20 2019-12-31 13F/A-1 BLACK HILLS COM 092113109 817,943 42,912 5.54 64,241 8.03 0.0134
2020-02-13 2019-12-31 13F BLACK HILLS COM 092113109 817,943 42,912 64,241 8,186.9522
2019-11-12 2019-09-30 13F BLACK HILLS COM 092113109 775,031 71,028 10.09 59,468 8.06 0.0139
2019-08-14 2019-06-30 13F BLACK HILLS COM 092113109 704,003 82,093 13.20 55,031 19.47 0.0133
2019-05-14 2019-03-31 13F BLACK HILLS COM 092113109 621,910 38,877 6.67 46,064 25.85 0.0119
2019-03-06 2018-12-31 13F/A-1 BLACK HILLS COM 092113109 583,033 62,327 11.97 36,602 21.01 0.0113
2019-02-13 2018-12-31 13F BLACK HILLS COM 092113109 583,033 62,327 36,602
2018-11-13 2018-09-30 13F BLACK HILLS COM 092113109 520,706 25,644 5.18 30,247 -0.18 0.0085
2018-08-14 2018-06-30 13F BLACK HILLS COM 092113109 495,062 49,460 11.10 30,302 25.24 0.0093
2018-05-15 2018-03-31 13F BLACK HILLS COM 092113109 445,602 2,118 0.48 24,196 -9.23 0.0079
2018-02-13 2017-12-31 13F BLACK HILLS COM 092113109 443,484 9,049 2.08 26,657 -10.90 0.0091
2017-11-14 2017-09-30 13F BLACK HILLS COM 092113109 434,435 8,919 2.10 29,919 4.21 0.0110
2017-08-14 2017-06-30 13F BLACK HILLS COM 092113109 425,516 13,436 3.26 28,709 4.82 0.0113
2017-06-21 2017-03-31 13F/A-1 BLACK HILLS CORP COM COM 092113109 412,080 10,688 2.66 27,390 11.25 0.0112
2017-05-12 2017-03-31 13F BLACK HILLS CORP COM COM 092113109 412,080 27,390
2017-02-14 2016-12-31 13F BLACK HILLS CORP COM COM 092113109 401,392 56,985 16.55 24,620 16.78 0.0114
2016-11-10 2016-09-30 13F BLACK HILLS CORP COM COM 092113109 344,407 5,217 1.54 21,083 -1.40 0.0106
2016-08-12 2016-06-30 13F BLACK HILLS CORP COM COM 092113109 339,190 7,067 2.13 21,382 7.07 0.0116
2016-05-13 2016-03-31 13F BLACK HILLS CORP COM COM 092113109 332,123 25,026 8.15 19,970 40.06 0.0106
2016-02-12 2015-12-31 13F BLACK HILLS CORP COM COM 092113109 307,097 10,492 3.54 14,258 16.29 0.0081
2015-11-13 2015-09-30 13F BLACK HILLS CORP COM COM 092113109 296,605 24,666 9.07 12,261 3.29 0.0074
2015-08-14 2015-06-30 13F BLACK HILLS CORP COM COM 092113109 271,939 9,652 3.68 11,870 -10.27 0.0068
2015-05-14 2015-03-31 13F BLACK HILLS CORP COM COM 092113109 262,287 19,116 7.86 13,229 2.57 0.0076
2015-02-12 2014-12-31 13F BLACK HILLS CORP COM COM 092113109 243,171 12,526 5.43 12,897 16.80 0.0077
2014-11-14 2014-09-30 13F BLACK HILLS CORP COM COM 092113109 230,645 1,391 0.61 11,042 -21.54 0.0072
2014-08-13 2014-06-30 13F BLACK HILLS CORP COM COM 092113109 229,254 -3,117 -1.34 14,073 5.05 0.0091
2014-05-14 2014-03-31 13F BLACK HILLS CORP COM COM 092113109 232,371 22,148 10.54 13,396 21.36 0.0090
2014-02-14 2013-12-31 13F BLACK HILLS CORP COM COM 092113109 210,223 13,281 6.74 11,038 12.40 0.0077
2013-11-14 2013-09-30 13F BLACK HILLS CORP COM COM 092113109 196,942 -14,246 -6.75 9,820 -4.61 0.0079
2013-08-14 2013-06-30 13F BLACK HILLS CORP COM COM 092113109 211,188 211,188 10,295 0.0091
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.