| Summary of Investments Measured at Fair Value on Recurring Basis |
The following tables set forth by level within the fair value hierarchy a summary of the Plan’s investments measured at fair value on a recurring basis as of December 31, 2025 and 2024:
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December 31, 2025 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Investments Measured at Fair Value |
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Net Asset Value |
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Total Investments |
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Mutual funds |
$ |
296,914,418 |
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$ |
- |
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$ |
- |
|
$ |
296,914,418 |
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$ |
- |
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$ |
296,914,418 |
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Black Hills Corporation common stock |
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17,572,606 |
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- |
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- |
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17,572,606 |
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- |
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17,572,606 |
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Self-directed brokerage accounts - PCRA |
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25,570,340 |
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|
13,897,377 |
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- |
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|
39,467,717 |
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- |
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39,467,717 |
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Common collective trust funds |
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- |
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- |
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- |
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- |
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557,833,812 |
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|
557,833,812 |
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Total investments |
$ |
340,057,364 |
|
$ |
13,897,377 |
|
$ |
- |
|
$ |
353,954,741 |
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$ |
557,833,812 |
|
$ |
911,788,553 |
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December 31, 2024 |
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|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total Investments Measured at Fair Value |
|
Net Asset Value |
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Total Investments |
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Mutual funds |
$ |
265,983,973 |
|
$ |
- |
|
$ |
- |
|
$ |
265,983,973 |
|
$ |
- |
|
$ |
265,983,973 |
|
Black Hills Corporation common stock |
|
14,676,035 |
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|
- |
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|
- |
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|
14,676,035 |
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|
- |
|
|
14,676,035 |
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Self-directed brokerage accounts - PCRA |
|
24,851,108 |
|
|
11,480,762 |
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|
- |
|
|
36,331,870 |
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|
- |
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36,331,870 |
|
Common collective trust funds |
|
- |
|
|
- |
|
|
- |
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|
- |
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|
472,451,352 |
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|
472,451,352 |
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Total investments |
$ |
305,511,116 |
|
$ |
11,480,762 |
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$ |
- |
|
$ |
316,991,878 |
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$ |
472,451,352 |
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$ |
789,443,230 |
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