BLACK HILLS CORP

Ticker: BKH CUSIP: 092113109 Class: COM

MAI Capital Management's Holding History (CIK: 0001040197)

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

Q4 2025

Shares 200 Value ($000) $14 Avg Close $66.47 Range $58.20 - $73.32

Q3 2025

Shares 146 Value ($000) $9 Avg Close $57.38 Range $54.13 - $60.96

Q2 2025

Shares 429 Value ($000) $24 Avg Close $56.47 Range $52.67 - $59.65

Q1 2025

Shares 243 Value ($000) $15 Avg Close $56.47 Range $52.15 - $59.45

Q4 2024

Shares 243 Value ($000) $14 Avg Close $57.33 Range $53.67 - $62.19

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	200	$14	$66.47	$58.20 - $73.32
Q3 2025	146	$9	$57.38	$54.13 - $60.96
Q2 2025	429	$24	$56.47	$52.67 - $59.65
Q1 2025	243	$15	$56.47	$52.15 - $59.45
Q4 2024	243	$14	$57.33	$53.67 - $62.19