Black Hills Corporation
US ˙ NYSE ˙ US0921131092

SecurityBKH / Black Hills Corporation
InstitutionStifel Financial Corp
Latest Disclosed Ownership116,769 shares
Latest Disclosed Value $ 8,104,967
Stifel Financial Corp reports 1.00% increase in ownership of BKH / Black Hills Corporation

On May 12, 2026 - Stifel Financial Corp filed a 13F-HR form disclosing ownership of 116,769 shares of Black Hills Corporation (US:BKH) valued at $8,104,936 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 115,609 shares of Black Hills Corporation. This represents a change in shares of 1.00% during the quarter. The current value of the position is $8,395,691 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)
2026-05-12 2026-03-31 13F BLACK HILLS COM 092113109 116,769 1,160 1.00 8,105 0.98 0.0017
2026-02-13 2025-12-31 13F BLACK HILLS COM 092113109 115,609 7,802 7.24 8,026 20.88 0.0072
2025-11-12 2025-09-30 13F BLACK HILLS COM 092113109 107,807 8,231 8.27 6,640 18.85 0.0061
2025-08-14 2025-06-30 13F BLACK HILLS COM 092113109 99,576 5,743 6.12 5,586 -1.85 0.0054
2025-05-14 2025-03-31 13F BLACK HILLS COM 092113109 93,833 3,800 4.22 5,691 8.03 0.0060
2025-02-13 2024-12-31 13F BLACK HILLS COM 092113109 90,033 9,306 11.53 5,269 6.77 0.0055
2024-11-14 2024-09-30 13F BLACK HILLS COM 092113109 80,727 5,373 7.13 4,934 20.43 0.0052
2024-08-13 2024-06-30 13F BLACK HILLS COM 092113109 75,354 37,563 99.40 4,098 98.59 0.0046
2024-05-14 2024-03-31 13F BLACK HILLS COM 092113109 37,791 15,313 68.12 2,063 70.21 0.0024
2024-02-12 2023-12-31 13F BLACK HILLS COM 092113109 22,478 -2,566 -10.25 1,213 -4.27 0.0015
2023-11-13 2023-09-30 13F BLACK HILLS COM 092113109 25,044 2,380 10.50 1,267 -7.25 0.0018
2023-08-14 2023-06-30 13F BLACK HILLS COM 092113109 22,664 2,146 10.46 1,366 5.49 0.0019
2023-05-12 2023-03-31 13F BLACK HILLS COM 092113109 20,518 5,028 32.46 1,295 18.82 0.0019
2023-02-13 2022-12-31 13F BLACK HILLS COM 092113109 15,490 -1,869 -10.77 1,090 -7.40 0.0016
2022-11-14 2022-09-30 13F BLACK HILLS COM 092113109 17,359 177 1.03 1,176 -5.92 0.0019
2022-08-15 2022-06-30 13F BLACK HILLS COM 092113109 17,182 4,827 39.07 1,250 31.44 0.0020
2022-05-13 2022-03-31 13F BLACK HILLS COM 092113109 12,355 -2,023 -14.07 951 -6.21 0.0013
2022-02-14 2021-12-31 13F BLACK HILLS COM 092113109 14,378 700 5.12 1,014 18.18 0.0013
2021-11-15 2021-09-30 13F BLACK HILLS COM 092113109 13,678 296 2.21 858 -2.39 0.0013
2021-08-13 2021-06-30 13F BLACK HILLS COM 092113109 13,382 909 7.29 879 5.52 0.0013
2021-05-14 2021-03-31 13F BLACK HILLS COM 092113109 12,473 12,473 833 0.0014
2020-05-14 2020-03-31 13F BLACK HILLS COM 092113109 0 -7,965 -100.00 0 -100.00
2020-02-13 2019-12-31 13F BLACK HILLS COM 092113109 7,965 126 1.61 624 4.52 0.0013
2019-11-19 2019-09-30 13F/A-1 BLACK HILLS COM 092113109 7,839 154 2.00 597 -0.33 0.0015
2019-11-13 2019-09-30 13F BLACK HILLS COM 092113109 7,839 154 597 334.6484
2019-08-14 2019-06-30 13F BLACK HILLS COM 092113109 7,685 3,903 103.20 599 115.47 0.0015
2019-05-14 2019-03-31 13F BLACK HILLS COM 092113109 3,782 3,782 278 0.0008
2018-05-11 2018-03-31 13F BLACK HILLS COM 092113109 0 -7,181 -100.00 0 -100.00
2018-02-14 2017-12-31 13F BLACK HILLS COM 092113109 7,181 -655 -8.36 435 -19.44 0.0014
2017-11-13 2017-09-30 13F BLACK HILLS COM 092113109 7,836 7,836 540 0.0019
2017-05-10 2017-03-31 13F BLACK HILLS COM 092113109 0 -12,769 -100.00 0 -100.00
2017-02-16 2016-12-31 13F BLACK HILLS COM 092113109 12,769 -4,682 -26.83 782 -26.64 0.0033
2016-11-15 2016-09-30 13F BLACK HILLS COM 092113109 17,451 -2,691 -13.36 1,066 -16.06 0.0048
2016-08-17 2016-06-30 13F BLACK HILLS COM 092113109 20,142 3,297 19.57 1,270 25.37 0.0059
2016-05-16 2016-03-31 13F BLACK HILLS COM 092113109 16,845 -233 -1.36 1,013 27.74 0.0054
2016-03-21 2015-12-31 13F/A-2 BLACK HILLS COM 092113109 17,078 17,078 0.00 793 0.00 0.0041
2016-02-26 2015-12-31 13F/A-1 BLACK HILLS COM 092113109 17,078 0 793 0.0041
2016-02-16 2015-12-31 13F BLACK HILLS COM 092113109 17,078 996
2014-11-13 2014-09-30 13F BLACK HILLS COM 092113109 0 -7,580 -100.00 0 -100.00
2014-08-14 2014-06-30 13F BLACK HILLS COM 092113109 7,580 -1,315 -14.78 466 -8.98 0.0042
2014-05-15 2014-03-31 13F BLACK HILLS COM 092113109 8,895 8,895 512 0.0049
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.