CIK: 0000872162
Total reported value
$1.9B
Reporting period: 2026-03-31 · Number of holdings: 49
BLACKHILL CAPITAL INC disclosed 49 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.9B and a quarterly turnover rate of 5.1%.
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Blackhill Capital INC's disclosed holdings carry a Herfindahl concentration index of 0.528 — mathematically equivalent to about 2 equally-sized positions, well below its 49 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 5.04), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add WSM
-0.1% $27.9M
Trim LLY
-0.2% -$22.8M
Add CAT
-0.8% $7.8M
Trim MSFT
0.0% -$7.5M
Trim ABT
0.0% -$6.1M
Trim AAPL
-0.5% -$4.8M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | WSM | Williams-sonoma INC | Stock-Consumer Disc | 72.12% | +1.47% | -0.06% | |
| 2 | LLY | Eli Lilly & Co | Stock-Healthcare | 6.90% | -1.17% | -0.17% | |
| 3 | AAPL | Apple INC | Stock-Tech | 3.24% | -0.25% | -0.52% | |
| 4 | ABBV | Abbvie INC | Stock-Healthcare | 2.95% | +0.04% | +6.47% | |
| 5 | CAT | Caterpillar INC | Stock-Industrials | 2.17% | +0.40% | -0.83% | |
| 6 | ABT | Abbott Laboratories | Stock-Healthcare | 1.42% | -0.31% | — | |
| 7 | MSFT | Microsoft CORP | Stock-Tech | 1.26% | -0.38% | — | |
| 8 | NVDA | Nvidia CORP | Stock-Tech | 1.26% | -0.08% | — | |
| 9 | ET | Energy Transfer LP | Stock-Energy | 1.19% | +0.21% | +3.45% | |
| 10 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.05% | +0.14% | — | |
| 11 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.86% | +0.08% | -1.85% | |
| 12 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.81% | +0.13% | — | |
| 13 | ZTS | Zoetis INC | Stock-Healthcare | 0.58% | -0.04% | — | |
| 14 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.52% | -0.03% | — | |
| 15 | MA | Mastercard INC - A | Stock-Financials | 0.51% | -0.08% | — | |
| 16 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.50% | -0.09% | — | |
| 17 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.39% | -0.04% | — | |
| 18 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.33% | — | — | |
| 19 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.26% | -0.03% | — | |
| 20 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.24% | -0.02% | — | |
| 21 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.22% | -0.01% | — | |
| 22 | EPD | Enterprise Products Partners | Stock-Energy | 0.21% | +0.03% | — | |
| 23 | ZBH | Zimmer Biomet Holdings INC | Stock-Healthcare | 0.20% | +0.01% | — | |
| 24 | KMB | Kimberly-clark CORP | Stock-Consumer Staples | 0.14% | -0.01% | — | |
| 25 | CVX | Chevron CORP | Stock-Energy | 0.12% | +0.03% | — | |
| 26 | PFE | Pfizer INC | Stock-Healthcare | 0.07% | +0.01% | — | |
| 27 | WTRG | Essential Utilities INC | Stock-Utilities | 0.05% | — | — | |
| 28 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.05% | — | — | |
| 29 | AWR | American States Water Co | Stock-Utilities | 0.04% | — | — | |
| 30 | AWK | American Water Works Co INC | Stock-Utilities | 0.04% | — | — | |
| 31 | RMD | Resmed INC | Stock-Healthcare | 0.04% | — | — | |
| 32 | PM | Philip Morris International | Stock-Consumer Staples | 0.04% | +0.01% | — | |
| 33 | WY | Weyerhaeuser Co | Stock-Real Estate | 0.03% | — | — | |
| 34 | RYN | Rayonier INC | Stock-Real Estate | 0.03% | +0.02% | +170.78% | |
| 35 | FFIV | F5 INC | Stock-Tech | 0.02% | — | — | |
| 36 | ELAN | Elanco Animal Health INC | Stock-Healthcare | 0.02% | — | — | |
| 37 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 0.02% | — | — | |
| 38 | MSEX | Middlesex Water Co | Stock-Other | 0.02% | — | — | |
| 39 | CWT | California Water Service Grp | Stock-Utilities | 0.02% | — | — | |
| 40 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.02% | — | — | |
| 41 | MDY | State Street Spdr S&p Midcap | ETF-Other | 0.01% | — | — | |
| 42 | HSY | Hershey Co/the | Stock-Consumer Staples | 0.01% | — | — | |
| 43 | TSLA | Tesla INC | Stock-Consumer Disc | — | — | — | |
| 44 | MGNI | Magnite INC | Stock-Other | — | — | — | |
| 45 | NFLX | Netflix INC | Stock-Comm Services | — | — | — | |
| 46 | NSC | Norfolk Southern CORP | Stock-Industrials | — | — | — | |
| 47 | TR | Tootsie Roll Inds | Stock-Other | — | — | — | |
| 48 | AVNS | Avanos Medical INC | Stock-Other | — | — | — | |
| 49 | ED | Consolidated Edison INC | Stock-Utilities | — | — | — |
Performance for Q3 2026
+23.3%
Performance Last 4 Quarters
+25.2%
Based on 87% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 49 | $1.9B | 5 | |
| 2025-12-31 | 50 | $1.9B | 11 | |
| 2025-09-30 | 51 | $2.0B | 19 | |
| 2025-06-30 | 49 | $1.7B | 0 | |
| 2025-03-31 | 49 | $1.7B | 100 | |
| 2024-12-31 | 50 | $1.9B | 0 | |
| 2024-09-30 | 52 | $1.7B | 0 | |
| 2024-06-30 | 53 | $1.6B | 0 | |
| 2024-03-31 | 53 | $1.7B | 0 | |
| 2023-12-31 | 52 | $1.2B | 0 | |
| 2023-09-30 | 51 | $1.0B | 0 | |
| 2023-06-30 | 51 | $931.9M | 0 | |
| 2023-03-31 | 52 | $895.9M | 0 | |
| 2022-12-31 | 52 | $862.8M | 0 | |
| 2022-09-30 | 52 | $842.1M | 0 | |
| 2022-06-30 | 52 | $863.0M | 0 | |
| 2022-03-31 | 55 | $1.1B | 0 | |
| 2021-12-31 | 54 | $1.2B | 0 | |
| 2021-09-30 | 56 | $1.2B | 0 | |
| 2021-06-30 | 56 | $1.1B | 100 | |
| 2021-03-31 | 56 | $1.1B | 35 | |
| 2020-12-31 | 58 | $829.0M | 12 | |
| 2020-09-30 | 56 | $739.6M | 12 | |
| 2020-06-30 | 57 | $679.5M | 36 | |
| 2020-03-31 | 62 | $480.4M | 36 | |
| 2019-12-31 | 63 | $685.4M | 11 | |
| 2019-09-30 | 67 | $632.6M | 7 | |
| 2019-06-30 | 68 | $621.5M | 10 | |
| 2019-03-31 | 68 | $583.2M | 13 | |
| 2018-12-31 | 67 | $522.0M | 21 | |
| 2018-09-30 | 72 | $618.3M | 12 | |
| 2018-06-30 | 74 | $561.9M | 11 | |
| 2018-03-31 | 74 | $536.3M | 7 | |
| 2017-12-31 | 76 | $554.1M | 8 | |
| 2017-09-30 | 76 | $532.9M | 10 | |
| 2017-06-30 | 77 | $522.2M | 14 | |
| 2017-03-31 | 79 | $542.0M | 9 | |
| 2016-12-31 | 88 | $527.8M | 15 | |
| 2016-09-30 | 87 | $599.6M | 6 | |
| 2016-06-30 | 85 | $616.7M | 10 | |
| 2016-03-31 | 86 | $610.3M | 10 | |
| 2015-12-31 | 89 | $642.5M | 24 | |
| 2015-09-30 | 91 | $741.7M | 13 | |
| 2015-06-30 | 92 | $828.0M | 6 | |
| 2015-03-31 | 92 | $820.0M | 37 | |
| 2014-12-31 | 97 | $801.8M | 30 | |
| 2014-09-30 | 96 | $734.1M | 8 | |
| 2014-06-30 | 96 | $736.2M | 12 | |
| 2014-03-31 | 95 | $693.4M | 10 | |
| 2013-12-31 | 116 | $657.0M | 7 | |
| 2013-09-30 | 80 | $621.3M | 4 | |
| 2013-06-30 | 81 | $616.8M | 0 |
Blackhill Capital INC's most significant position changes for 2026-03-31: Sold out: Potlatchdeltic CORP (PCH); Trim: Williams-sonoma INC (WSM) — shares -0.06%; Trim: Eli Lilly & Co (LLY) — shares -0.17%; Trim: Caterpillar INC (CAT) — shares -0.83%; Trim: Apple INC (AAPL) — shares -0.52%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | WSM | Williams-sonoma INC | +1.5% | -0.06% | Trim |
| 2 | CAT | Caterpillar INC | +0.4% | -0.83% | Trim |
| 3 | ET | Energy Transfer LP | +0.2% | +3.45% | Add |
| 4 | MRK | Merck & Co. INC. | +0.1% | — | Unchanged |
| 5 | JNJ | Johnson & Johnson | +0.1% | — | Unchanged |
| 6 | BMY | Bristol-myers Squibb Co | +0.1% | -1.85% | Trim |
| 7 | ABBV | Abbvie INC | 0% | +6.47% | Add |
| 8 | CVX | Chevron CORP | 0% | — | Unchanged |
| 9 | EPD | Enterprise Products Partners | 0% | — | Unchanged |
| 10 | RYN | Rayonier INC | 0% | +170.78% | Add |
| 11 | PFE | Pfizer INC | 0% | — | Unchanged |
| 12 | ZBH | Zimmer Biomet Holdings INC | 0% | — | Unchanged |
| 13 | PM | Philip Morris International | 0% | — | Unchanged |
| 14 | RMD | Resmed INC | — | — | Unchanged |
| 15 | FFIV | F5 INC | — | — | Unchanged |
| 16 | PG | Procter & Gamble Co/the | — | — | Unchanged |
| 17 | WTRG | Essential Utilities INC | — | — | Unchanged |
| 18 | AWR | American States Water Co | — | — | Unchanged |
| 19 | AWK | American Water Works Co INC | — | — | Unchanged |
| 20 | CL | Colgate-palmolive Co | — | — | Unchanged |
| 21 | MGNI | Magnite INC | — | — | Unchanged |
| 22 | ELAN | Elanco Animal Health INC | — | — | Unchanged |
| 23 | WY | Weyerhaeuser Co | — | — | Unchanged |
| 24 | TSLA | Tesla INC | — | — | Unchanged |
| 25 | HSY | Hershey Co/the | — | — | Unchanged |
| 26 | MCD | Mcdonald's CORP | — | — | Unchanged |
| 27 | CWT | California Water Service Grp | — | — | Unchanged |
| 28 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | — | Unchanged |
| 29 | MSEX | Middlesex Water Co | — | — | Unchanged |
| 30 | TR | Tootsie Roll Inds | — | — | Unchanged |
| 31 | AVNS | Avanos Medical INC | — | — | Unchanged |
| 32 | MDY | State Street Spdr S&p Midcap | — | — | Unchanged |
| 33 | ED | Consolidated Edison INC | — | — | Unchanged |
| 34 | NFLX | Netflix INC | — | — | Unchanged |
| 35 | NSC | Norfolk Southern CORP | — | — | Unchanged |
| 36 | BRK-A | Berkshire Hathaway Inc-cl A | 0% | — | Unchanged |
| 37 | KMB | Kimberly-clark CORP | 0% | — | Unchanged |
| 38 | GOOGL | Alphabet Inc-cl A | 0% | — | Unchanged |
| 39 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | — | Unchanged |
| 40 | GOOG | Alphabet Inc-cl C | 0% | — | Unchanged |
| 41 | AMZN | Amazon.com INC | 0% | — | Unchanged |
| 42 | ZTS | Zoetis INC | 0% | — | Unchanged |
| 43 | NVDA | Nvidia CORP | -0.1% | — | Unchanged |
| 44 | MA | Mastercard INC - A | -0.1% | — | Unchanged |
| 45 | DIS | Walt Disney Co/the | -0.1% | — | Unchanged |
| 46 | AAPL | Apple INC | -0.3% | -0.52% | Trim |
| 47 | ABT | Abbott Laboratories | -0.3% | — | Unchanged |
| 48 | MSFT | Microsoft CORP | -0.4% | — | Unchanged |
| 49 | LLY | Eli Lilly & Co | -1.2% | -0.17% | Trim |
| 50 | PCH | Potlatchdeltic CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-12 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-08 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-13 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-12 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-10 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-07 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-29 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-02 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-31 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-24 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-06 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-08 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-05 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-02 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-20 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-08 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-27 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-04 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-22 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-02 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-04 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-06 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-07 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-05 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-06 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-05 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-28 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-04 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-30 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-06 | 13F-HR | View on EDGAR |
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