BLACK HILLS CORP

Ticker: BKH CUSIP: 092113109 Class: COM

Retirement Systems of Alabama's Holding History (CIK: 0001593051)

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

Q4 2025

Shares 90,579 Value ($000) $6,288 Avg Close $66.47 Range $58.20 - $73.32

Q3 2025

Shares 88,083 Value ($000) $5,425 Avg Close $57.38 Range $54.13 - $60.96

Q2 2025

Shares 88,623 Value ($000) $4,972 Avg Close $56.47 Range $52.67 - $59.65

Q1 2025

Shares 87,167 Value ($000) $5,287 Avg Close $56.47 Range $52.15 - $59.45

Q4 2024

Shares 87,026 Value ($000) $5,093 Avg Close $57.33 Range $53.67 - $62.19

Q3 2024

Shares 84,728 Value ($000) $5,179 Avg Close $54.39 Range $49.37 - $58.14

Q2 2024

Shares 85,080 Value ($000) $4,627 Avg Close $50.26 Range $46.53 - $53.93

Q1 2024

Shares 85,382 Value ($000) $4,662 Avg Close $47.73 Range $44.68 - $50.77

Q4 2023

Shares 85,157 Value ($000) $4,594 Avg Close $46.16 Range $41.54 - $51.76

Q3 2023

Shares 83,795 Value ($000) $4,239 Avg Close $50.50 Range $44.92 - $54.81

Q2 2023

Shares 85,904 Value ($000) $5,177 Avg Close $55.83 Range $52.26 - $58.57

Q1 2023

Shares 85,032 Value ($000) $5,366 Avg Close $57.47 Range $51.53 - $64.19

Q4 2022

Shares 85,774 Value ($000) $6,033 Avg Close $58.05 Range $50.78 - $62.96

Q3 2022

Shares 85,202 Value ($000) $5,771 Avg Close $64.21 Range $58.14 - $68.58

Q2 2022

Shares 85,407 Value ($000) $6,215 Avg Close $63.81 Range $56.66 - $68.52

Q1 2022

Shares 83,739 Value ($000) $6,450 Avg Close $58.63 Range $54.02 - $65.73

Q4 2021

Shares 83,570 Value ($000) $5,898 Avg Close $55.40 Range $51.95 - $59.51

Q3 2021

Shares 82,195 Value ($000) $5,159 Avg Close $56.46 Range $51.50 - $60.51

Q2 2021

Shares 81,908 Value ($000) $5,376 Avg Close $55.86 Range $53.24 - $58.36

Q1 2021

Shares 81,960 Value ($000) $5,472 Avg Close $50.63 Range $47.19 - $55.19

Q4 2020

Shares 81,788 Value ($000) $5,026 Avg Close $48.27 Range $42.45 - $52.98

Q3 2020

Shares 81,917 Value ($000) $4,382 Avg Close $45.64 Range $41.75 - $49.89

Q2 2020

Shares 81,880 Value ($000) $4,639 Avg Close $47.91 Range $41.68 - $55.82

Q1 2020

Shares 80,024 Value ($000) $5,124 Avg Close $59.44 Range $37.90 - $68.25

Q4 2019

Shares 80,024 Value ($000) $6,285 Avg Close $60.15 Range $57.52 - $62.11

Q3 2019

Shares 79,375 Value ($000) $6,090 Avg Close $60.34 Range $54.21 - $62.80

Q2 2019

Shares 70,668 Value ($000) $5,524 Avg Close $58.01 Range $54.08 - $63.38

Q1 2019

Shares 70,299 Value ($000) $5,207 Avg Close $52.65 Range $46.35 - $57.40

Q4 2018

Shares 70,008 Value ($000) $4,395 Avg Close $47.68 Range $43.15 - $52.00

Q3 2018

Shares 69,262 Value ($000) $4,023 Avg Close $45.23 Range $42.66 - $48.12

Q2 2018

Shares 69,396 Value ($000) $4,248 Avg Close $42.43 Range $39.15 - $46.25

Q1 2018

Shares 69,251 Value ($000) $3,760 Avg Close $39.62 Range $37.38 - $44.38

Q4 2017

Shares 69,160 Value ($000) $4,157 Avg Close $45.46 Range $41.87 - $51.03

Q3 2017

Shares 68,999 Value ($000) $4,752 Avg Close $50.60 Range $48.73 - $51.89

Q2 2017

Shares 68,920 Value ($000) $4,650 Avg Close $49.84 Range $47.18 - $52.32

Q1 2017

Shares 68,918 Value ($000) $4,581 Avg Close $45.51 Range $43.01 - $48.38

Q4 2016

Shares 68,632 Value ($000) $4,210 Avg Close $42.62 Range $38.96 - $45.02

Q3 2016

Shares 67,425 Value ($000) $4,128 Avg Close $43.19 Range $40.45 - $45.62

Q2 2016

Shares 66,545 Value ($000) $4,195 Avg Close $42.44 Range $39.39 - $44.88

Q1 2016

Shares 66,011 Value ($000) $3,969 Avg Close $37.32 Range $31.07 - $42.88

Q4 2015

Shares 65,759 Value ($000) $3,053 Avg Close $30.44 Range $27.84 - $33.06

Q3 2015

Shares 56,860 Value ($000) $2,351 Avg Close $28.18 Range $25.38 - $32.28

Q2 2015

Shares 56,891 Value ($000) $2,483 Avg Close $32.61 Range $29.70 - $35.86

Q1 2015

Shares 56,698 Value ($000) $2,860 Avg Close $34.02 Range $32.42 - $35.85

Q4 2014

Shares 56,412 Value ($000) $2,992 Avg Close $35.24 Range $31.42 - $38.13

Q3 2014

Shares 56,412 Value ($000) $2,701 Avg Close $35.67 Range $31.93 - $41.13

Q2 2014

Shares 55,088 Value ($000) $3,382 Avg Close $38.31 Range $36.56 - $40.65

Q1 2014

Shares 55,544 Value ($000) $3,202 Avg Close $36.15 Range $33.35 - $38.82

Q4 2013

Shares 54,581 Value ($000) $2,866 Avg Close $33.02 Range $30.45 - $35.53

Q3 2013

Shares 54,581 Value ($000) $2,721 Avg Close $32.70 Range $30.21 - $35.44

Q2 2013

Shares 53,910 Value ($000) $2,628 Avg Close $30.15 Range $27.57 - $32.51

Q1 2013

Shares 53,978 Value ($000) $2,377 Avg Close $26.01 Range $23.33 - $28.29

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	90,579	$6,288	$66.47	$58.20 - $73.32
Q3 2025	88,083	$5,425	$57.38	$54.13 - $60.96
Q2 2025	88,623	$4,972	$56.47	$52.67 - $59.65
Q1 2025	87,167	$5,287	$56.47	$52.15 - $59.45
Q4 2024	87,026	$5,093	$57.33	$53.67 - $62.19
Q3 2024	84,728	$5,179	$54.39	$49.37 - $58.14
Q2 2024	85,080	$4,627	$50.26	$46.53 - $53.93
Q1 2024	85,382	$4,662	$47.73	$44.68 - $50.77
Q4 2023	85,157	$4,594	$46.16	$41.54 - $51.76
Q3 2023	83,795	$4,239	$50.50	$44.92 - $54.81
Q2 2023	85,904	$5,177	$55.83	$52.26 - $58.57
Q1 2023	85,032	$5,366	$57.47	$51.53 - $64.19
Q4 2022	85,774	$6,033	$58.05	$50.78 - $62.96
Q3 2022	85,202	$5,771	$64.21	$58.14 - $68.58
Q2 2022	85,407	$6,215	$63.81	$56.66 - $68.52
Q1 2022	83,739	$6,450	$58.63	$54.02 - $65.73
Q4 2021	83,570	$5,898	$55.40	$51.95 - $59.51
Q3 2021	82,195	$5,159	$56.46	$51.50 - $60.51
Q2 2021	81,908	$5,376	$55.86	$53.24 - $58.36
Q1 2021	81,960	$5,472	$50.63	$47.19 - $55.19
Q4 2020	81,788	$5,026	$48.27	$42.45 - $52.98
Q3 2020	81,917	$4,382	$45.64	$41.75 - $49.89
Q2 2020	81,880	$4,639	$47.91	$41.68 - $55.82
Q1 2020	80,024	$5,124	$59.44	$37.90 - $68.25
Q4 2019	80,024	$6,285	$60.15	$57.52 - $62.11
Q3 2019	79,375	$6,090	$60.34	$54.21 - $62.80
Q2 2019	70,668	$5,524	$58.01	$54.08 - $63.38
Q1 2019	70,299	$5,207	$52.65	$46.35 - $57.40
Q4 2018	70,008	$4,395	$47.68	$43.15 - $52.00
Q3 2018	69,262	$4,023	$45.23	$42.66 - $48.12
Q2 2018	69,396	$4,248	$42.43	$39.15 - $46.25
Q1 2018	69,251	$3,760	$39.62	$37.38 - $44.38
Q4 2017	69,160	$4,157	$45.46	$41.87 - $51.03
Q3 2017	68,999	$4,752	$50.60	$48.73 - $51.89
Q2 2017	68,920	$4,650	$49.84	$47.18 - $52.32
Q1 2017	68,918	$4,581	$45.51	$43.01 - $48.38
Q4 2016	68,632	$4,210	$42.62	$38.96 - $45.02
Q3 2016	67,425	$4,128	$43.19	$40.45 - $45.62
Q2 2016	66,545	$4,195	$42.44	$39.39 - $44.88
Q1 2016	66,011	$3,969	$37.32	$31.07 - $42.88
Q4 2015	65,759	$3,053	$30.44	$27.84 - $33.06
Q3 2015	56,860	$2,351	$28.18	$25.38 - $32.28
Q2 2015	56,891	$2,483	$32.61	$29.70 - $35.86
Q1 2015	56,698	$2,860	$34.02	$32.42 - $35.85
Q4 2014	56,412	$2,992	$35.24	$31.42 - $38.13
Q3 2014	56,412	$2,701	$35.67	$31.93 - $41.13
Q2 2014	55,088	$3,382	$38.31	$36.56 - $40.65
Q1 2014	55,544	$3,202	$36.15	$33.35 - $38.82
Q4 2013	54,581	$2,866	$33.02	$30.45 - $35.53
Q3 2013	54,581	$2,721	$32.70	$30.21 - $35.44
Q2 2013	53,910	$2,628	$30.15	$27.57 - $32.51
Q1 2013	53,978	$2,377	$26.01	$23.33 - $28.29