BLACK HILLS CORP

Ticker: BKH CUSIP: 092113109 Class: COM

RATIONAL ADVISORS LLC's Holding History (CIK: 0001143565)

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

Q4 2013

Shares 1,596 Value ($000) $84 Avg Close $33.02 Range $30.45 - $35.53

Q3 2013

Shares 1,856 Value ($000) $93 Avg Close $32.70 Range $30.21 - $35.44

Q2 2013

Shares 1,902 Value ($000) $93 Avg Close $30.15 Range $27.57 - $32.51

Q1 2013

Shares 3,002 Value ($000) $132 Avg Close $26.01 Range $23.33 - $28.29

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	1,596	$84	$33.02	$30.45 - $35.53
Q3 2013	1,856	$93	$32.70	$30.21 - $35.44
Q2 2013	1,902	$93	$30.15	$27.57 - $32.51
Q1 2013	3,002	$132	$26.01	$23.33 - $28.29