BLACKHILL CAPITAL INC Diversified Active

CIK: 0000872162 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $1,943,550 (100.0% shares, 0.0% debt)

Holdings (50)

Increased Positions (3)

ET ENERGY TRANSFER L P COM UNIT L 1.0%

Value ($000) $19,128 (+59.2%) Shares 1,160,000 (+65.7%) Est. Cost $16.89 Unrealized —

RYN RAYONIER INC COM 0.0%

Value ($000) $197 (-14.4%) Shares 9,093 (+4.9%) Est. Cost $52.55 Unrealized —

NFLX NETFLIX INC COM 0.0%

Value ($000) $61 (+1.7%) Shares 650 (+1200.0%) Est. Cost $108.91 Unrealized -1.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ET	ENERGY TRANSFER L P COM UNIT L	1,160,000 (+65.7%)	$19,128 (+59.2%)	1.0%	$16.89	—	COM	29273V100
RYN	RAYONIER INC COM	9,093 (+4.9%)	$197 (-14.4%)	0.0%	$52.55	—	COM	754907103
NFLX	NETFLIX INC COM	650 (+1200.0%)	$61 (+1.7%)	0.0%	$108.91	-1.0%	COM	64110L106

Exited Positions (1)

KVUE KENVUE INC COM 0.1%

Value ($000) $1,399 Shares 86,184 Est. Cost $21.04 Unrealized -22.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KVUE	KENVUE INC COM	86,184	$1,399	0.1%	$21.04	-22.7%	—	49177J102

Decreased Positions (5)

ZTS ZOETIS INC COM 0.6%

Value ($000) $12,066 (-37.2%) Shares 95,899 (-27.0%) Est. Cost $33.40 Unrealized +290.0%

ZBH ZIMMER BIOMET HLDGS INC COM 0.2%

Value ($000) $3,784 (-28.7%) Shares 42,079 (-21.9%) Est. Cost $69.42 Unrealized +36.2%

MGNI MAGNITE INC COM 0.0%

Value ($000) $97 (-61.6%) Shares 5,991 (-48.5%) Est. Cost $6.68 Unrealized +148.4%

ELAN ELANCO ANIMAL HEALTH INC COM 0.0%

Value ($000) $428 (+7.2%) Shares 18,891 (-4.6%) Est. Cost $31.25 Unrealized -30.4%

AVNS AVANOS MED INC COM 0.0%

Value ($000) $27 (-25.5%) Shares 2,375 (-23.3%) Est. Cost $64.35 Unrealized -82.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ZTS	ZOETIS INC COM	95,899 (-27.0%)	$12,066 (-37.2%)	0.6%	$33.40	+290.0%	COM	98978V103
ZBH	ZIMMER BIOMET HLDGS INC COM	42,079 (-21.9%)	$3,784 (-28.7%)	0.2%	$69.42	+36.2%	COM	98956P102
MGNI	MAGNITE INC COM	5,991 (-48.5%)	$97 (-61.6%)	0.0%	$6.68	+148.4%	COM	55955D100
ELAN	ELANCO ANIMAL HEALTH INC COM	18,891 (-4.6%)	$428 (+7.2%)	0.0%	$31.25	-30.4%	COM	28414H103
AVNS	AVANOS MED INC COM	2,375 (-23.3%)	$27 (-25.5%)	0.0%	$64.35	-82.2%	COM	05350V106

Unchanged Positions (42)

WSM WILLIAMS SONOMA INC COM 70.7%

Value ($000) $1,373,185 Shares 7,689,036 Est. Cost $80.38 Unrealized +133.0%

LLY LILLY ELI & CO COM 8.1%

Value ($000) $156,865 Shares 145,964 Est. Cost $55.35 Unrealized +1626.5%

CAT CATERPILLAR INC COM 1.8%

Value ($000) $34,372 Shares 60,000 Est. Cost $61.55 Unrealized +802.5%

AAPL APPLE INC COM 3.5%

Value ($000) $67,829 Shares 249,500 Est. Cost $86.85 Unrealized +209.0%

MRK MERCK & CO INC NEW COM 0.9%

Value ($000) $17,774 Shares 168,857 Est. Cost $58.21 Unrealized +60.2%

BMY BRISTOL MYERS SQUIBB CO COM 0.8%

Value ($000) $15,134 Shares 280,564 Est. Cost $46.98 Unrealized +1.2%

ABT ABBOTT LABS COM 1.7%

Value ($000) $33,644 Shares 268,530 Est. Cost $30.97 Unrealized +311.1%

MSFT MICROSOFT CORP COM 1.6%

Value ($000) $31,943 Shares 66,050 Est. Cost $84.55 Unrealized +492.1%

JNJ JOHNSON & JOHNSON COM 0.7%

Value ($000) $13,284 Shares 64,187 Est. Cost $95.36 Unrealized +106.6%

GOOG ALPHABET INC CAP STK CL C 0.3%

Value ($000) $5,542 Shares 17,660 Est. Cost $107.13 Unrealized +167.3%

GOOGL ALPHABET INC CL A 0.3%

Value ($000) $5,002 Shares 15,980 Est. Cost $106.24 Unrealized +168.8%

ABBV ABBVIE INC COM 2.9%

Value ($000) $56,462 Shares 247,110 Est. Cost $52.28 Unrealized +335.2%

KMB KIMBERLY-CLARK CORP COM 0.2%

Value ($000) $2,926 Shares 29,000 Est. Cost $63.06 Unrealized +71.9%

PG PROCTER & GAMBLE CO COM 0.3%

Value ($000) $6,430 Shares 44,871 Est. Cost $55.74 Unrealized +164.0%

AMZN AMAZON COM INC COM 0.4%

Value ($000) $8,443 Shares 36,580 Est. Cost $159.69 Unrealized +43.3%

RMD RESMED INC COM 0.0%

Value ($000) $819 Shares 3,400 Est. Cost $114.64 Unrealized +122.8%

FFIV F5 INC COM 0.0%

Value ($000) $408 Shares 1,600 Est. Cost $160.92 Unrealized +67.2%

EPD ENTERPRISE PRODS PARTNERS L P 0.2%

Value ($000) $3,453 Shares 107,704 Est. Cost $48.97 Unrealized —

DIS DISNEY WALT CO DISNEY COM 0.6%

Value ($000) $11,548 Shares 101,500 Est. Cost $92.59 Unrealized +18.3%

NVDA NVIDIA CORP COM 1.3%

Value ($000) $26,101 Shares 139,950 Est. Cost $96.39 Unrealized +93.1%

AWK AMERICAN WTR WKS CO INC NEW CO 0.0%

Value ($000) $783 Shares 6,000 Est. Cost $31.82 Unrealized +318.5%

MA MASTERCARD INC CL A 0.6%

Value ($000) $11,418 Shares 20,000 Est. Cost $126.35 Unrealized +342.4%

WTRG ESSENTIAL UTILS INC COM 0.1%

Value ($000) $999 Shares 26,041 Est. Cost $47.18 Unrealized -16.6%

CVX CHEVRON CORP NEW COM 0.1%

Value ($000) $1,760 Shares 11,550 Est. Cost $71.21 Unrealized +112.6%

WY WEYERHAEUSER CO COM 0.0%

Value ($000) $622 Shares 26,240 Est. Cost $21.02 Unrealized +9.4%

PFE PFIZER INC COM 0.1%

Value ($000) $1,175 Shares 47,178 Est. Cost $19.46 Unrealized +28.6%

MSEX MIDDLESEX WTR CO COM 0.0%

Value ($000) $336 Shares 6,666 Est. Cost $19.42 Unrealized +176.9%

CWT CALIFORNIA WTR SVC GROUP COM 0.0%

Value ($000) $329 Shares 7,600 Est. Cost $15.03 Unrealized +200.3%

AWR AMERICAN STS WTR CO COM 0.0%

Value ($000) $783 Shares 10,800 Est. Cost $32.11 Unrealized +128.4%

PCH POTLATCHDELTIC CORP C/A EFF 02 0.0%

Value ($000) $340 Shares 8,540 Est. Cost $39.47 Unrealized —

PM PHILIP MORRIS INTL INC COM 0.0%

Value ($000) $674 Shares 4,200 Est. Cost $50.10 Unrealized +206.5%

SPY STATE STR SPDR S&P 500 ETF TR 0.0%

Value ($000) $326 Shares 478 Est. Cost $177.20 Unrealized —

TR TOOTSIE ROLL INDS INC COM 0.0%

Value ($000) $47 Shares 1,279 Est. Cost $25.19 Unrealized +54.9%

MCD MCDONALDS CORP COM 0.0%

Value ($000) $917 Shares 3,000 Est. Cost $71.80 Unrealized +324.9%

CL COLGATE PALMOLIVE CO COM 0.0%

Value ($000) $395 Shares 5,000 Est. Cost $44.38 Unrealized +76.4%

BRK/A BERKSHIRE HATHAWAY INC DEL CL 0.2%

Value ($000) $4,529 Shares 6 Est. Cost $165023.42 Unrealized +352.3%

HSY HERSHEY CO COM 0.0%

Value ($000) $109 Shares 600 Est. Cost $77.22 Unrealized +135.8%

MDY SPDR S&P MIDCAP 400 ETF TR UNI 0.0%

Value ($000) $212 Shares 351 Est. Cost $209.84 Unrealized —

NSC NORFOLK SOUTHN CORP COM 0.0%

Value ($000) $58 Shares 200 Est. Cost $57.67 Unrealized +400.4%

BRK/B BERKSHIRE HATHAWAY INC DEL CL 0.5%

Value ($000) $10,675 Shares 21,237 Est. Cost $180.27 Unrealized +176.0%

TSLA TESLA INC COM 0.0%

Value ($000) $90 Shares 200 Est. Cost $195.37 Unrealized +126.9%

ED CONSOLIDATED EDISON INC COM 0.0%

Value ($000) $25 Shares 253 Est. Cost $37.50 Unrealized +163.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WSM	WILLIAMS SONOMA INC COM	7,689,036	$1,373,185	70.7%	$80.38	+133.0%	COM	969904101
LLY	LILLY ELI & CO COM	145,964	$156,865	8.1%	$55.35	+1626.5%	COM	532457108
CAT	CATERPILLAR INC COM	60,000	$34,372	1.8%	$61.55	+802.5%	COM	149123101
AAPL	APPLE INC COM	249,500	$67,829	3.5%	$86.85	+209.0%	COM	037833100
MRK	MERCK & CO INC NEW COM	168,857	$17,774	0.9%	$58.21	+60.2%	COM	58933Y105
BMY	BRISTOL MYERS SQUIBB CO COM	280,564	$15,134	0.8%	$46.98	+1.2%	COM	110122108
ABT	ABBOTT LABS COM	268,530	$33,644	1.7%	$30.97	+311.1%	COM	002824100
MSFT	MICROSOFT CORP COM	66,050	$31,943	1.6%	$84.55	+492.1%	COM	594918104
JNJ	JOHNSON & JOHNSON COM	64,187	$13,284	0.7%	$95.36	+106.6%	COM	478160104
GOOG	ALPHABET INC CAP STK CL C	17,660	$5,542	0.3%	$107.13	+167.3%	COM	02079K107
GOOGL	ALPHABET INC CL A	15,980	$5,002	0.3%	$106.24	+168.8%	COM	02079K305
ABBV	ABBVIE INC COM	247,110	$56,462	2.9%	$52.28	+335.2%	COM	00287Y109
KMB	KIMBERLY-CLARK CORP COM	29,000	$2,926	0.2%	$63.06	+71.9%	COM	494368103
PG	PROCTER & GAMBLE CO COM	44,871	$6,430	0.3%	$55.74	+164.0%	COM	742718109
AMZN	AMAZON COM INC COM	36,580	$8,443	0.4%	$159.69	+43.3%	COM	023135106
RMD	RESMED INC COM	3,400	$819	0.0%	$114.64	+122.8%	COM	761152107
FFIV	F5 INC COM	1,600	$408	0.0%	$160.92	+67.2%	COM	315616102
EPD	ENTERPRISE PRODS PARTNERS L P	107,704	$3,453	0.2%	$48.97	—	COM	293792107
DIS	DISNEY WALT CO DISNEY COM	101,500	$11,548	0.6%	$92.59	+18.3%	COM	254687106
NVDA	NVIDIA CORP COM	139,950	$26,101	1.3%	$96.39	+93.1%	COM	67066G104
AWK	AMERICAN WTR WKS CO INC NEW CO	6,000	$783	0.0%	$31.82	+318.5%	COM	030420103
MA	MASTERCARD INC CL A	20,000	$11,418	0.6%	$126.35	+342.4%	COM	57636Q104
WTRG	ESSENTIAL UTILS INC COM	26,041	$999	0.1%	$47.18	-16.6%	COM	29670G102
CVX	CHEVRON CORP NEW COM	11,550	$1,760	0.1%	$71.21	+112.6%	COM	166764100
WY	WEYERHAEUSER CO COM	26,240	$622	0.0%	$21.02	+9.4%	COM	962166104
PFE	PFIZER INC COM	47,178	$1,175	0.1%	$19.46	+28.6%	COM	717081103
MSEX	MIDDLESEX WTR CO COM	6,666	$336	0.0%	$19.42	+176.9%	COM	596680108
CWT	CALIFORNIA WTR SVC GROUP COM	7,600	$329	0.0%	$15.03	+200.3%	COM	130788102
AWR	AMERICAN STS WTR CO COM	10,800	$783	0.0%	$32.11	+128.4%	COM	029899101
PCH	POTLATCHDELTIC CORP C/A EFF 02	8,540	$340	0.0%	$39.47	—	COM	737630103
PM	PHILIP MORRIS INTL INC COM	4,200	$674	0.0%	$50.10	+206.5%	COM	718172109
SPY	STATE STR SPDR S&P 500 ETF TR	478	$326	0.0%	$177.20	—	COM	78462F103
TR	TOOTSIE ROLL INDS INC COM	1,279	$47	0.0%	$25.19	+54.9%	COM	890516107
MCD	MCDONALDS CORP COM	3,000	$917	0.0%	$71.80	+324.9%	COM	580135101
CL	COLGATE PALMOLIVE CO COM	5,000	$395	0.0%	$44.38	+76.4%	COM	194162103
BRK/A	BERKSHIRE HATHAWAY INC DEL CL	6	$4,529	0.2%	$165023.42	+352.3%	COM	084670108
HSY	HERSHEY CO COM	600	$109	0.0%	$77.22	+135.8%	COM	427866108
MDY	SPDR S&P MIDCAP 400 ETF TR UNI	351	$212	0.0%	$209.84	—	COM	78467Y107
NSC	NORFOLK SOUTHN CORP COM	200	$58	0.0%	$57.67	+400.4%	COM	655844108
BRK/B	BERKSHIRE HATHAWAY INC DEL CL	21,237	$10,675	0.5%	$180.27	+176.0%	COM	084670702
TSLA	TESLA INC COM	200	$90	0.0%	$195.37	+126.9%	COM	88160R101
ED	CONSOLIDATED EDISON INC COM	253	$25	0.0%	$37.50	+163.5%	COM	209115104