Black Hills Corporation
US ˙ NYSE ˙ US0921131092

SecurityBKH / Black Hills Corporation
InstitutionHennessy Advisors Inc
Latest Disclosed Ownership45,147 shares
Latest Disclosed Value $ 3,133,653
Hennessy Advisors Inc reports 4.24% decrease in ownership of BKH / Black Hills Corporation

On April 21, 2026 - Hennessy Advisors Inc filed a 13F-HR form disclosing ownership of 45,147 shares of Black Hills Corporation (US:BKH) valued at $3,133,653 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 27, 2026 disclosing 47,147 shares of Black Hills Corporation. This represents a change in shares of -4.24% during the quarter. The current value of the position is $3,285,799 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)
2026-04-21 2026-03-31 13F Black Hills COM 092113109 45,147 -2,000 -4.24 3,134 -4.25 0.1132
2026-01-27 2025-12-31 13F Black Hills COM 092113109 47,147 300 0.64 3,273 13.41 0.1160
2025-10-20 2025-09-30 13F Black Hills COM 092113109 46,847 -6,800 -12.68 2,885 -4.12 0.0996
2025-07-21 2025-06-30 13F Black Hills COM 092113109 53,647 8,700 19.36 3,010 10.38 0.1003
2025-04-16 2025-03-31 13F Black Hills COM 092113109 44,947 -2,200 -4.67 2,726 -1.20 0.0908
2025-01-15 2024-12-31 13F Black Hills COM 092113109 47,147 2,500 5.60 2,759 1.14 0.0821
2024-10-16 2024-09-30 13F Black Hills COM 092113109 44,647 -1,400 -3.04 2,729 8.95 0.0874
2024-07-23 2024-06-30 13F Black Hills COM 092113109 46,047 -14,900 -24.45 2,504 -24.74 0.0948
2024-04-16 2024-03-31 13F Black Hills COM 092113109 60,947 -3,600 -5.58 3,328 -4.45 0.1401
2024-01-18 2023-12-31 13F BLACK HILLS COM 092113109 64,547 0 0.00 3,482 6.65 0.2591
2023-10-18 2023-09-30 13F BLACK HILLS COM 092113109 64,547 -100 -0.15 3,265 -16.17 0.2288
2023-07-17 2023-06-30 13F BLACK HILLS COM 092113109 64,647 -2,000 -3.00 3,896 -7.37 0.2808
2023-04-14 2023-03-31 13F BLACK HILLS COM 092113109 66,647 -800 -1.19 4,205 105,025.00 0.3097
2023-01-20 2022-12-31 13F BLACK HILLS COM 092113109 67,447 -5,800 -7.92 5 -99.92 0.3117
2022-11-08 2022-09-30 13F BLACK HILLS COM 092113109 73,247 0 0.00 4,961 -6.92 0.3428
2022-08-12 2022-06-30 13F BLACK HILLS COM 092113109 73,247 1,400 1.95 5,330 -3.69 0.3190
2022-05-12 2022-03-31 13F BLACK HILLS COM 092113109 71,847 -4,400 -5.77 5,534 2.84 0.2901
2022-01-25 2021-12-31 13F BLACK HILLS COM 092113109 76,247 -9,000 -10.56 5,381 0.58 0.3056
2021-10-12 2021-09-30 13F BLACK HILLS COM 092113109 85,247 -3,600 -4.05 5,350 -8.25 0.3193
2021-07-28 2021-06-30 13F BLACK HILLS COM 092113109 88,847 0 0.00 5,831 -1.70 0.3237
2021-04-19 2021-03-31 13F BLACK HILLS COM 092113109 88,847 -2,000 -2.20 5,932 6.25 0.3451
2021-01-25 2020-12-31 13F BLACK HILLS COM 092113109 90,847 -15,700 -14.74 5,583 -2.04 0.3586
2020-10-16 2020-09-30 13F BLACK HILLS COM 092113109 106,547 -16,600 -13.48 5,699 -18.33 0.3965
2020-07-20 2020-06-30 13F BLACK HILLS COM 092113109 123,147 -2,200 -1.76 6,978 -13.06 0.4860
2020-04-14 2020-03-31 13F BLACK HILLS COM 092113109 125,347 -5,700 -4.35 8,026 -22.02 0.6032
2020-01-14 2019-12-31 13F BLACK HILLS COM 092113109 131,047 -3,500 -2.60 10,292 -0.31 0.5239
2019-10-07 2019-09-30 13F BLACK HILLS COM 092113109 134,547 -5,000 -3.58 10,324 -5.35 0.5187
2019-07-11 2019-06-30 13F BLACK HILLS COM 092113109 139,547 0 0.00 10,908 5.53 0.5228
2019-04-08 2019-03-31 13F BLACK HILLS COM 092113109 139,547 0 0.00 10,336 17.98 0.4803
2019-01-14 2018-12-31 13F BLACK HILLS COM 092113109 139,547 -7,000 -4.78 8,761 2.91 0.4301
2018-10-10 2018-09-30 13F BLACK HILLS COM 092113109 146,547 -5,000 -3.30 8,513 -8.23 0.3142
2018-07-20 2018-06-30 13F BLACK HILLS COM 092113109 151,547 -22,200 -12.78 9,276 -1.67 0.3180
2018-05-02 2018-03-31 13F BLACK HILLS COM 092113109 173,747 -30,000 -14.72 9,434 -22.97 0.3170
2018-01-23 2017-12-31 13F BLACK HILLS COM 092113109 203,747 -12,200 -5.65 12,247 -17.65 0.3758
2017-11-03 2017-09-30 13F BLACK HILLS COM 092113109 215,947 134,588 165.42 14,872 170.94 0.4609
2017-08-10 2017-06-30 13F BLACK HILLS COM 092113109 81,359 -1,350 -1.63 5,489 -0.16 0.1688
2017-04-27 2017-03-31 13F BLACK HILLS COM 092113109 82,709 1,750 2.16 5,498 10.71 0.1617
2017-01-17 2016-12-31 13F BLACK HILLS COM 092113109 80,959 1,000 1.25 4,966 1.45 0.1473
2016-10-13 2016-09-30 13F BLACK HILLS COM 092113109 79,959 5,000 6.67 4,895 3.60 0.1390
2016-08-04 2016-06-30 13F BLACK HILLS COM 092113109 74,959 -4,000 -5.07 4,725 -0.48 0.1431
2016-04-21 2016-03-31 13F BLACK HILLS COM 092113109 78,959 -3,000 -3.66 4,748 24.78 0.1442
2016-01-22 2015-12-31 13F BLACK HILLS COM 092113109 81,959 -6,000 -6.82 3,805 4.65 0.1190
2015-10-20 2015-09-30 13F BLACK HILLS COM 092113109 87,959 -29,000 -24.80 3,636 -28.78 0.1094
2015-08-04 2015-06-30 13F BLACK HILLS COM 092113109 116,959 2,000 1.74 5,105 -11.97 0.1529
2015-04-21 2015-03-31 13F BLACK HILLS COM 092113109 114,959 -3,500 -2.95 5,799 -7.70 0.1669
2015-01-22 2014-12-31 13F BLACK HILLS COM 092113109 118,459 -1,000 -0.84 6,283 9.84 0.1779
2014-10-16 2014-09-30 13F BLACK HILLS COM 092113109 119,459 14,500 13.81 5,720 -11.22 0.1711
2014-07-15 2014-06-30 13F BLACK HILLS COM 092113109 104,959 15,500 17.33 6,443 24.94 0.1996
2014-04-24 2014-03-31 13F BLACK HILLS COM 092113109 89,459 16,000 21.78 5,157 33.70 0.1911
2014-01-22 2013-12-31 13F BLACK HILLS COM 092113109 73,459 11,359 18.29 3,857 24.58 0.1574
2013-10-30 2013-09-30 13F BLACK HILLS COM 092113109 62,100 7,000 12.70 3,096 15.26 0.1401
2013-07-17 2013-06-30 13F BLACK HILLS COM 092113109 55,100 55,100 2,686 0.1345
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.