Blackhill Capital provides portfolio management for individuals and small businesses.
Blackhill Capital reports 81 clients. They include 48 high-net-worth individuals, 28 individual clients and 5 charitable organizations. Of its assets, 100.0% ($2B across 83 accounts) are managed with discretion. Of its clients, 5% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 35% | <1% |
| High-net-worth individuals | 59% | 64% |
| Charitable organizations | 6% | 22% |
| Corporations and other businesses | Fewer than 5 | 13% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 28 | $7.96M | 0.4% | $284K |
| High-net-worth individuals | 48 | $1.29B | 64.4% | $26.9M |
| Charitable organizations | 5 | $447M | 22.3% | $89.3M |
| Corporations and other businesses | Fewer than 5 | $258M | 12.9% | — |
| Total | 81 | $2B | 100% | — |
- Clients
- 28
- Regulatory AUM
- $7.96M
- AUM share
- 0.4%
- Avg. per client
- $284K
- Clients
- 48
- Regulatory AUM
- $1.29B
- AUM share
- 64.4%
- Avg. per client
- $26.9M
- Clients
- 5
- Regulatory AUM
- $447M
- AUM share
- 22.3%
- Avg. per client
- $89.3M
- Clients
- Fewer than 5
- Regulatory AUM
- $258M
- AUM share
- 12.9%
- Avg. per client
- —
Total
- Clients
- 81
- Regulatory AUM
- $2B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 5%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Blackhill Capital charges 1.00%–3.00% a year for its Investment Supervisory Services. The fee is negotiable.
Fee details and sources
Cary Schwartz owns 75% or more of Blackhill Capital. The leadership team of Blackhill Capital includes President Cary Schwartz and Chief Compliance Officer Gail McIntyre. It has 4 employees, 2 of them in advisory roles.
Leadership
- Cary SchwartzPresident & CEO
- Gail McIntyreChief Compliance Officer
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
- Marcella Ottavia Finkel
- Cary Michael Schwartz
Staff
- 4 employees
- 2 in advisory functions
- 2 state-registered reps
- Owns 75% or more of Blackhill Capital, Inc
Cary Schwartz
Control person · since February 1988
Blackhill Capital’s regulatory assets grew 2.3× from $853M (March 2021) to $2B (March 2026); clients were 81 in both filings and employees were 4 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $2B | 81 | 4 | 1 |
| March 2025 | $2B | 80 | 4 | 1 |
| March 2024 | $1.29B | 78 | 4 | 1 |
| March 2023 | $904M | 82 | 4 | 1 |
| March 2022 | $1.2B | 82 | 4 | 1 |
| March 2021 | $853M | 82 | 4 | 1 |
Besides its headquarters, Blackhill Capital has 0 offices, with 1 listed address in New Jersey.
New Jersey · 1 listed address
- 161 Madison Avenue, MorristownHQ
Contact and registration details
- Legal name
- Blackhill Capital, Inc
- Headquarters
- 161 Madison Avenue, Morristown, NJ 07960-7364
- Website
- blackhillcapital.com
- Phone
- 973-984-7014
- SEC file
- 801-32051
- Structure
- New Jersey corporation
- Fiscal year end
- December
Blackhill Capital uses Pershing ($2B) as custodian for its separately managed accounts. Blackhill Capital has custody of $1.26B in client assets for 13 clients.
The filed custodian amounts total more than regulatory assets under management. Each amount is shown as filed.
- PershingPershing LLC · Jersey City, NJ · $2B100%
At year end, Blackhill Capital’s separately managed accounts were mostly in stocks (97%). Its reported 13F holdings for the quarter ended 30 June 2026 total $2.41B across 47 positions; the largest are Williams Sonoma Inc. (74.3%), Lilly Eli & CO (7.2%) and Apple Inc. (3.0%).
What the accounts hold
- Stocks97%
- Cash3%
Reported 13F holdings
- $2.41B
- Reported 13F value
- 47
- Positions
- 94.9%
- In the 10 largest
- +24.0%
- Value vs. prior quarter
- Williams Sonoma Inc.74.3%
- Lilly Eli & CO7.2%
- Apple Inc.3.0%
- Abbvie Inc.2.7%
- Caterpillar Inc.2.6%
- Energy Transfer L P Com Unit L1.3%
- Nvidia Corp.1.2%
- Microsoft Corp.1.0%
- Merck & CO Inc. New0.9%
- Johnson & Johnson0.7%
Together, the ten largest are 94.9% of reported value.
How many clients does Blackhill Capital have?
Blackhill Capital has 81 clients and manages $2 billion for them, as of March 2026. They include 48 high-net-worth individuals, 28 individual clients and 5 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 18 March 2026
What services does Blackhill Capital offer?
Blackhill Capital provides portfolio management for individuals and small businesses.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Blackhill Capital charge?
Blackhill Capital charges 1.00%–3.00% a year for its Investment Supervisory Services. The fee is negotiable.
Which custodians does Blackhill Capital use?
Blackhill Capital’s separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $2B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 18 March 2026
How many financial advisors does Blackhill Capital have?
Blackhill Capital has 2 investment adviser representatives registered with state securities authorities, out of 4 employees, and 2 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Blackhill Capital invest in?
At the end of its last fiscal year, Blackhill Capital’s separately managed accounts held 97% exchange-traded equities and 3% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Blackhill Capital?
Blackhill Capital’s direct owner is Cary Schwartz (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 18 March 2026
How does Blackhill Capital get paid?
Blackhill Capital is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Blackhill Capital registered with the SEC?
Yes, Blackhill Capital has been registered with the SEC as an investment adviser since 13 May 1988. Its CRD number is 105208 and its SEC file number is 801-32051.
Source: Form ADV Part 1A, Item 1, filed 18 March 2026; IAPD firm record
How do I contact Blackhill Capital?
Blackhill Capital’s main office is at 161 Madison Avenue, Morristown, NJ 07960-7364. Its phone number is 973-984-7014. Its website is blackhillcapital.com.