BLACKHILL CAPITAL INC

CIK 0000872162 · Q1 2026

13F Equity AUM

$1.9B

-0.0% QoQ

Positions

-1 QoQ

AUM Rank

#1,814

Top 15%

Skill Alpha (FF)

+1.6%/yr^ns

No Clear Edge

Rank #1,290 · Top 16%

vs S&P -0.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 87.4%Top 10: 93.5%Top 20: 98.6%

WSM72.1%

LLY6.9%

AAPL3.2%

ABBV3.0%

CAT2.2%

ABT1.4%

MSFT1.3%

NVDA1.3%

ET1.2%

MRK1.1%

Others (39)6.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Consumer Cyclical72.6%

Healthcare14.9%

Technology5.8%

Industrials2.2%

Other4.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 49Median: 0.12%Avg: 2.04%

0–0.5%

33(2.7%)

0.5–1%

6(3.8%)

1–3%

7(11.3%)

3–5%

1(3.2%)

5%+

2(79.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 49Unique: 0vs 20 funds

0.7%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

1.2%

MORGAN STANLEY

0.9%

JPMORGAN CHASE & CO

BANK OF AMERICA CORP /DE/

STATE STREET CORP

1.4%

FMR LLC

1.6%

VANGUARD CAPITAL MANAGEMENT LLC

1.3%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.6%

GEODE CAPITAL MANAGEMENT, LLC

1.3%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New0Increased3Decreased5Exited1

Increased

ET1.2%

+40K(+3%)

ABBV3.0%

+16K(+6%)

RYN0.0%

+16K(+171%)

Decreased

BMY0.9%

-5,200(-2%)

WSM72.1%

-4,512(-0%)

AAPL3.2%

-1,300(-1%)

CAT2.2%

-500(-1%)

LLY6.9%

-243(-0%)

Exited

PCH

-8,540

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...