Black Hills Corporation
US ˙ NYSE ˙ US0921131092

SecurityBKH / Black Hills Corporation
InstitutionNorthern Trust Corp
Latest Disclosed Ownership944,294 shares
Latest Disclosed Value $ 65,543,446
Northern Trust Corp reports 2.77% increase in ownership of BKH / Black Hills Corporation

On May 14, 2026 - Northern Trust Corp filed a 13F-HR form disclosing ownership of 944,294 shares of Black Hills Corporation (US:BKH) valued at $65,543,447 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 918,827 shares of Black Hills Corporation. This represents a change in shares of 2.77% during the quarter. The current value of the position is $67,894,739 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)
2026-05-14 2026-03-31 13F BLACK HILLS COM 092113109 944,294 25,467 2.77 65,543 2.76 0.0018
2026-02-17 2025-12-31 13F BLACK HILLS COM 092113109 918,827 -38,666 -4.04 63,785 8.16 0.0017
2025-11-14 2025-09-30 13F BLACK HILLS COM 092113109 957,493 -5,259 -0.55 58,972 9.19 0.0075
2025-08-13 2025-06-30 13F BLACK HILLS COM 092113109 962,752 -40,559 -4.04 54,010 -11.24 0.0074
2025-05-13 2025-03-31 13F BLACK HILLS COM 092113109 1,003,311 -13,166 -1.30 60,851 2.30 0.0090
2025-02-14 2024-12-31 13F BLACK HILLS COM 092113109 1,016,477 105,608 11.59 59,484 6.85 0.0084
2024-11-13 2024-09-30 13F BLACK HILLS COM 092113109 910,869 102,206 12.64 55,672 26.60 0.0091
2024-08-14 2024-06-30 13F BLACK HILLS COM 092113109 808,663 29,209 3.75 43,975 3.33 0.0074
2024-05-14 2024-03-31 13F BLACK HILLS COM 092113109 779,454 -146,792 -15.85 42,558 -14.83 0.0074
2024-02-13 2023-12-31 13F BLACK HILLS COM 092113109 926,246 -31,610 -3.30 49,971 3.12 0.0090
2023-11-13 2023-09-30 13F BLACK HILLS COM 092113109 957,856 3,925 0.41 48,458 -15.70 0.0094
2023-08-11 2023-06-30 13F BLACK HILLS COM 092113109 953,931 3,481 0.37 57,484 -4.15 0.0110
2023-05-15 2023-03-31 13F BLACK HILLS COM 092113109 950,450 -5,916 -0.62 59,973 -10.85 0.0119
2023-02-13 2022-12-31 13F BLACK HILLS COM 092113109 956,366 1,894 0.20 67,271 4.06 0.0141
2022-11-14 2022-09-30 13F BLACK HILLS COM 092113109 954,472 -14,636 -1.51 64,646 -8.33 0.0148
2022-08-12 2022-06-30 13F BLACK HILLS COM 092113109 969,108 -15,848 -1.61 70,521 -7.04 0.0151
2022-05-13 2022-03-31 13F BLACK HILLS COM 092113109 984,956 -33,675 -3.31 75,861 5.53 0.0133
2022-02-08 2021-12-31 13F BLACK HILLS COM 092113109 1,018,631 15,806 1.58 71,884 14.22 0.0118
2021-11-15 2021-09-30 13F BLACK HILLS COM 092113109 1,002,825 -22,536 -2.20 62,937 -6.48 0.0111
2021-08-13 2021-06-30 13F BLACK HILLS COM 092113109 1,025,361 -18,277 -1.75 67,295 -3.43 0.0119
2021-05-12 2021-03-31 13F BLACK HILLS COM 092113109 1,043,638 -174,867 -14.35 69,683 -6.94 0.0130
2021-02-11 2020-12-31 13F BLACK HILLS COM 092113109 1,218,505 -91,979 -7.02 74,877 6.82 0.0146
2020-11-16 2020-09-30 13F BLACK HILLS COM 092113109 1,310,484 -45,085 -3.33 70,098 -8.73 0.0154
2020-08-14 2020-06-30 13F BLACK HILLS COM 092113109 1,355,569 24,529 1.84 76,807 -9.88 0.0182
2020-05-14 2020-03-31 13F BLACK HILLS COM 092113109 1,331,040 5,925 0.45 85,226 -18.11 0.0245
2020-02-14 2019-12-31 13F BLACK HILLS COM 092113109 1,325,115 -3,390 -0.26 104,074 2.10 0.0233
2019-11-13 2019-09-30 13F BLACK HILLS COM 092113109 1,328,505 114,882 9.47 101,936 7.45 0.0244
2019-08-13 2019-06-30 13F BLACK HILLS COM 092113109 1,213,623 21,235 1.78 94,870 7.42 0.0225
2019-05-13 2019-03-31 13F BLACK HILLS COM 092113109 1,192,388 23,912 2.05 88,320 20.40 0.0218
2019-02-12 2018-12-31 13F BLACK HILLS COM 092113109 1,168,476 135,794 13.15 73,357 22.28 0.0206
2018-11-14 2018-09-30 13F BLACK HILLS COM 092113109 1,032,682 177,169 20.71 59,989 14.56 0.0147
2018-09-18 2018-06-30 13F/A-1 BLACK HILLS COM 092113109 855,513 14,319 1.70 52,365 14.64 0.0133
2018-08-14 2018-06-30 13F BLACK HILLS COM 092113109 858,998 17,804 52,579
2018-05-09 2018-03-31 13F BLACK HILLS COM 092113109 841,194 41,704 5.22 45,677 -4.95 0.0119
2018-02-14 2017-12-31 13F BLACK HILLS COM 092113109 799,490 -35,317 -4.23 48,057 -16.41 0.0122
2017-11-13 2017-09-30 13F BLACK HILLS COM 092113109 834,807 -9,759 -1.16 57,492 0.89 0.0150
2017-08-11 2017-06-30 13F BLACK HILLS COM 092113109 844,566 28,213 3.46 56,983 5.01 0.0159
2017-05-12 2017-03-31 13F BLACK HILLS COM 092113109 816,353 8,223 1.02 54,262 9.46 0.0156
2017-02-13 2016-12-31 13F BLACK HILLS COM 092113109 808,130 32,623 4.21 49,571 4.41 0.0152
2016-11-09 2016-09-30 13F BLACK HILLS COM 092113109 775,507 11,957 1.57 47,476 -1.37 0.0148
2016-08-12 2016-06-30 13F BLACK HILLS COM 092113109 763,550 21,862 2.95 48,134 8.26 0.0156
2016-08-19 2016-03-31 13F/A-1 BLACK HILLS COM 092113109 741,688 18,865 2.61 44,462 32.48 0.0147
2016-05-13 2016-03-31 13F Black Hills Pwr & Lt COMM 092113109 741,685 44,598
2016-02-12 2015-12-31 13F BLACK HILLS COM 092113109 722,823 83,418 13.05 33,561 26.96 0.0111
2015-11-12 2015-09-30 13F BLACK HILLS COM 092113109 639,405 -465,292 -42.12 26,434 -45.18 0.0088
2015-08-13 2015-06-30 13F BLACK HILLS COM 092113109 1,104,697 56,348 5.37 48,220 -8.81 0.0327
2015-05-14 2015-03-31 13F BLACK HILLS COM 092113109 1,048,349 36,670 3.62 52,879 -1.46 0.0159
2015-02-12 2014-12-31 13F BLACK HILLS COM 092113109 1,011,679 -9,640 -0.94 53,660 9.73 0.0162
2014-11-13 2014-09-30 13F BLACK HILLS COM 092113109 1,021,319 3,304 0.32 48,901 -21.75 0.0154
2014-08-14 2014-06-30 13F BLACK HILLS COM 092113109 1,018,015 -56,151 -5.23 62,496 0.92 0.0195
2014-05-14 2014-03-31 13F BLACK HILLS COM 092113109 1,074,166 -49,220 -4.38 61,927 4.98 0.0195
2014-02-21 2013-12-31 13F/A-1 BLACK HILLS COM 092113109 1,123,386 9,039 0.81 58,989 6.17 0.0189
2014-02-12 2013-12-31 13F BLACK HILLS COM 092113109 1,123,386 58,989
2013-11-13 2013-09-30 13F BLACK HILLS COM 092113109 1,114,347 3,554 0.32 55,562 2.61 0.0196
2013-08-09 2013-06-30 13F BLACK HILLS COM 092113109 1,110,793 1,110,793 54,151 0.0196
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.