BLACK HILLS CORP

Ticker: BKH CUSIP: 092113109 Class: COM

MARTINGALE ASSET MANAGEMENT L P's Holding History (CIK: 0000936944)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 67,239 Value ($000) $4,668 Avg Close $66.47 Range $58.20 - $73.32

Q3 2025

Shares 82,255 Value ($000) $5,066 Avg Close $57.38 Range $54.13 - $60.96

Q2 2025

Shares 81,744 Value ($000) $4,586 Avg Close $56.47 Range $52.67 - $59.65

Q1 2025

Shares 75,294 Value ($000) $4,567 Avg Close $56.47 Range $52.15 - $59.45

Q4 2024

Shares 70,481 Value ($000) $4,125 Avg Close $57.33 Range $53.67 - $62.19

Q3 2024

Shares 71,683 Value ($000) $4,381 Avg Close $54.39 Range $49.37 - $58.14

Q2 2024

Shares 63,422 Value ($000) $3,449 Avg Close $50.26 Range $46.53 - $53.93

Q1 2024

Shares 50,237 Value ($000) $2,743 Avg Close $47.73 Range $44.68 - $50.77

Q4 2023

Shares 35,614 Value ($000) $1,921 Avg Close $46.16 Range $41.54 - $51.76

Q3 2023

Shares 39,434 Value ($000) $1,995 Avg Close $50.50 Range $44.92 - $54.81

Q2 2023

Shares 40,084 Value ($000) $2,415 Avg Close $55.83 Range $52.26 - $58.57

Q1 2023

Shares 33,903 Value ($000) $2,139 Avg Close $57.47 Range $51.53 - $64.19

Q4 2022

Shares 32,447 Value ($000) $2,282 Avg Close $58.05 Range $50.78 - $62.96

Q3 2022

Shares 35,091 Value ($000) $2,378 Avg Close $64.21 Range $58.14 - $68.58

Q2 2022

Shares 23,518 Value ($000) $1,713 Avg Close $63.81 Range $56.66 - $68.52

Q1 2022

Shares 5,506 Value ($000) $425 Avg Close $58.63 Range $54.02 - $65.73

Q4 2021

Shares 5,506 Value ($000) $389 Avg Close $55.40 Range $51.95 - $59.51

Q3 2021

Shares 9,006 Value ($000) $566 Avg Close $56.46 Range $51.50 - $60.51

Q2 2021

Shares 8,510 Value ($000) $559 Avg Close $55.86 Range $53.24 - $58.36

Q1 2021

Shares 9,920 Value ($000) $664 Avg Close $50.63 Range $47.19 - $55.19

Q4 2020

Shares 13,721 Value ($000) $844 Avg Close $48.27 Range $42.45 - $52.98

Q3 2020

Shares 69,321 Value ($000) $3,709 Avg Close $45.64 Range $41.75 - $49.89

Q2 2020

Shares 170,127 Value ($000) $9,641 Avg Close $47.91 Range $41.68 - $55.82

Q1 2020

Shares 174,229 Value ($000) $11,157 Avg Close $59.44 Range $37.90 - $68.25

Q4 2019

Shares 162,129 Value ($000) $12,735 Avg Close $60.15 Range $57.52 - $62.11

Q3 2019

Shares 166,034 Value ($000) $12,741 Avg Close $60.34 Range $54.21 - $62.80

Q2 2019

Shares 154,539 Value ($000) $12,081 Avg Close $58.01 Range $54.08 - $63.38

Q1 2019

Shares 129,436 Value ($000) $9,588 Avg Close $52.65 Range $46.35 - $57.40

Q4 2018

Shares 95,120 Value ($000) $5,973 Avg Close $47.68 Range $43.15 - $52.00

Q3 2018

Shares 17,406 Value ($000) $1,012 Avg Close $45.23 Range $42.66 - $48.12

Q2 2018

Shares 18,506 Value ($000) $1,133 Avg Close $42.43 Range $39.15 - $46.25

Q3 2016

Shares 44,800 Value ($000) $2,743 Avg Close $43.19 Range $40.45 - $45.62

Q1 2016

Shares 35,520 Value ($000) $2,136 Avg Close $37.32 Range $31.07 - $42.88

Q4 2015

Shares 55,470 Value ($000) $2,576 Avg Close $30.44 Range $27.84 - $33.06

Q3 2015

Shares 63,513 Value ($000) $2,626 Avg Close $28.18 Range $25.38 - $32.28

Q2 2015

Shares 62,339 Value ($000) $2,722 Avg Close $32.61 Range $29.70 - $35.86

Q1 2015

Shares 23,519 Value ($000) $1,187 Avg Close $34.02 Range $32.42 - $35.85

Q4 2014

Shares 10,507 Value ($000) $558 Avg Close $35.24 Range $31.42 - $38.13

Q3 2014

Shares 11,008 Value ($000) $528 Avg Close $35.67 Range $31.93 - $41.13

Q2 2014

Shares 11,008 Value ($000) $676 Avg Close $38.31 Range $36.56 - $40.65

Q1 2014

Shares 17,908 Value ($000) $1,033 Avg Close $36.15 Range $33.35 - $38.82

Q4 2013

Shares 17,308 Value ($000) $909 Avg Close $33.02 Range $30.45 - $35.53

Q3 2013

Shares 21,608 Value ($000) $1,078 Avg Close $32.70 Range $30.21 - $35.44

Q2 2013

Shares 23,517 Value ($000) $1,147 Avg Close $30.15 Range $27.57 - $32.51

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	67,239	$4,668	$66.47	$58.20 - $73.32
Q3 2025	82,255	$5,066	$57.38	$54.13 - $60.96
Q2 2025	81,744	$4,586	$56.47	$52.67 - $59.65
Q1 2025	75,294	$4,567	$56.47	$52.15 - $59.45
Q4 2024	70,481	$4,125	$57.33	$53.67 - $62.19
Q3 2024	71,683	$4,381	$54.39	$49.37 - $58.14
Q2 2024	63,422	$3,449	$50.26	$46.53 - $53.93
Q1 2024	50,237	$2,743	$47.73	$44.68 - $50.77
Q4 2023	35,614	$1,921	$46.16	$41.54 - $51.76
Q3 2023	39,434	$1,995	$50.50	$44.92 - $54.81
Q2 2023	40,084	$2,415	$55.83	$52.26 - $58.57
Q1 2023	33,903	$2,139	$57.47	$51.53 - $64.19
Q4 2022	32,447	$2,282	$58.05	$50.78 - $62.96
Q3 2022	35,091	$2,378	$64.21	$58.14 - $68.58
Q2 2022	23,518	$1,713	$63.81	$56.66 - $68.52
Q1 2022	5,506	$425	$58.63	$54.02 - $65.73
Q4 2021	5,506	$389	$55.40	$51.95 - $59.51
Q3 2021	9,006	$566	$56.46	$51.50 - $60.51
Q2 2021	8,510	$559	$55.86	$53.24 - $58.36
Q1 2021	9,920	$664	$50.63	$47.19 - $55.19
Q4 2020	13,721	$844	$48.27	$42.45 - $52.98
Q3 2020	69,321	$3,709	$45.64	$41.75 - $49.89
Q2 2020	170,127	$9,641	$47.91	$41.68 - $55.82
Q1 2020	174,229	$11,157	$59.44	$37.90 - $68.25
Q4 2019	162,129	$12,735	$60.15	$57.52 - $62.11
Q3 2019	166,034	$12,741	$60.34	$54.21 - $62.80
Q2 2019	154,539	$12,081	$58.01	$54.08 - $63.38
Q1 2019	129,436	$9,588	$52.65	$46.35 - $57.40
Q4 2018	95,120	$5,973	$47.68	$43.15 - $52.00
Q3 2018	17,406	$1,012	$45.23	$42.66 - $48.12
Q2 2018	18,506	$1,133	$42.43	$39.15 - $46.25
Q3 2016	44,800	$2,743	$43.19	$40.45 - $45.62
Q1 2016	35,520	$2,136	$37.32	$31.07 - $42.88
Q4 2015	55,470	$2,576	$30.44	$27.84 - $33.06
Q3 2015	63,513	$2,626	$28.18	$25.38 - $32.28
Q2 2015	62,339	$2,722	$32.61	$29.70 - $35.86
Q1 2015	23,519	$1,187	$34.02	$32.42 - $35.85
Q4 2014	10,507	$558	$35.24	$31.42 - $38.13
Q3 2014	11,008	$528	$35.67	$31.93 - $41.13
Q2 2014	11,008	$676	$38.31	$36.56 - $40.65
Q1 2014	17,908	$1,033	$36.15	$33.35 - $38.82
Q4 2013	17,308	$909	$33.02	$30.45 - $35.53
Q3 2013	21,608	$1,078	$32.70	$30.21 - $35.44
Q2 2013	23,517	$1,147	$30.15	$27.57 - $32.51