# Blackhill Capital, Inc

> Blackhill Capital, Inc is an SEC-registered investment advisory firm in Morristown, NJ, registered since 1988, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 18, 2026.

- CRD: 105208
- Filed as: BLACKHILL CAPITAL, INC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Morristown, NJ
- Filing period: October 2026
- Form ADV filing dated: March 18, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105208
- AdvisorCensus page: https://advisorcensus.com/firm/blackhill-capital-inc-morristown-nj-105208

## Quick answers

**How is Blackhill Capital, Inc compensated?**
On its Form ADV (Item 5.E, October 2026), Blackhill Capital, Inc reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Blackhill Capital, Inc located?**
Blackhill Capital, Inc's principal office is in Morristown, NJ, according to its Form ADV.

**Is Blackhill Capital, Inc registered with the SEC or a state?**
Blackhill Capital, Inc is an SEC-registered investment advisory firm, registered since 1988. Status as filed: Approved. CRD 105208.

**How much does Blackhill Capital, Inc manage?**
Blackhill Capital, Inc reports $2,001,172,769 in regulatory assets under management in its Form ADV filing dated March 18, 2026 (100% discretionary).

**How have Blackhill Capital, Inc's assets and staff changed since 2021?**
In the Form ADV data for Blackhill Capital, Inc: Regulatory assets under management: $852,780,223 in the October 2021 data and $2,001,172,769 in the October 2026 data, up 135%. Total employees: 4 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Blackhill Capital, Inc serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (48); individuals (other than high net worth individuals) (28); charitable organizations (5).

**Which custodians does Blackhill Capital, Inc use?**
Blackhill Capital, Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Pershing LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Blackhill Capital, Inc report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/105208

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- Pershing LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $2,001,172,769
- Discretionary: $2,001,172,769
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 28 | $7,959,189 |
| High net worth individuals | 48 | $1,288,932,922 |
| Charitable organizations | 5 | $446,595,056 |
| Corporations or other businesses not listed above | Fewer than 5 | $257,685,602 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 1988 (38 years)
- Employees: 4 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NJ
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [blackhillcapital.com](https://blackhillcapital.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $852,780,223 | 4 | March 10, 2021 |
| October 2022 | $1,197,009,075 | 4 | March 23, 2022 |
| October 2023 | $904,495,448 | 4 | March 21, 2023 |
| October 2024 | $1,287,544,058 | 4 | March 20, 2024 |
| October 2025 | $1,998,854,767 | 4 | March 27, 2025 |
| October 2026 | $2,001,172,769 | 4 | March 18, 2026 |

Regulatory assets under management: $852,780,223 in the October 2021 data and $2,001,172,769 in the October 2026 data, up 135%.
Total employees: 4 in October 2021 and 4 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Blackhill Capital, Inc (CRD 105208): Form ADV filing data as of October 2026.