13F-HR 1 form13f32008.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 3/31/08 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Blackhill Capital, Inc. Address: 161 Madison Avenue Morristown, NJ 07960 Form 13F File Number: 28-02823 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Cary M. Schwartz Title: President Phone: 973-984-7014 Signature, Place, and Date of Signing: Cary M. Schwartz, Morristown, New Jersey 05/02/08 [Signature] [City, State] [Date] Report Type (Check only one.): [x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28-02823 Blackhill Capital, Inc. [Repeat as necessary.] FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 72 Form 13F Information Table Value Total: $401,848 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name 28-02823 Blackhill Capital, Inc. [Repeat as necessary.] Market Value Other Voting Issuer Class Cusip x 1000 DiscretiQuantityManagersAuthority ABBOTT LABORATORIES CMN COMMON 002824100 7856.669 Sole 142460 None Sole ALTRIA GROUP, INC. CMN COMMON 00209S103 473.97 Sole 21350 None Sole AMERICAN STATES WATER CO CMN COMMON 29899101 194.4 Sole 5400 None Sole AQUA AMERICA INC CMN COMMON 03836W103 391.24315 Sole 20832 None Sole AUTOMATIC DATA PROCESSING INC COMMON 053015103 110.214 Sole 2600 None Sole BAXTER INTERNATIONAL INC CMN COMMON 071813109 3758.3 Sole 65000 None Sole BERKSHIRE HATHAWAY INC CL-A (D COMMON 084670108 133.4 Sole 1 None Sole BERKSHIRE HATHAWAY INC. CLASS COMMON 084670207 1028.767 Sole 230 None Sole BOARDWALK PIPELINE PARTNERS LP COMMON 096627104 3051.64 Sole 124000 None Sole BP P.L.C. SPONSORED ADR CMN COMMON 055622104 13093.0007 Sole 215878 None Sole BRISTOL-MYERS SQUIBB COMPANY C COMMON 110122108 9235.68 Sole 433600 None Sole BUCKEYE GP HOLDINGS L.P. CMN COMMON 118167105 1453.41 Sole 63000 None Sole BUCKEYE PARTNERS LP UNITS CMN COMMON 118230101 1636.55 Sole 35500 None Sole CALIFORNIA WATER SERVICE GROUP COMMON 130788102 144.97 Sole 3800 None Sole CATERPILLAR INC (DELAWARE) CMN COMMON 149123101 4698.1829 Sole 60010 None Sole CHEVRON CORPORATION CMN COMMON 166764100 2761.396 Sole 32350 None Sole COACH INC CMN COMMON 189754104 5782.77 Sole 191800 None Sole COCA-COLA COMPANY (THE) CMN COMMON 191216100 1.2174 Sole 20 None Sole CONNECTICUT WATER SVC CMN COMMON 207797101 94.68 Sole 4000 None Sole CONSOLIDATED EDISON INC CMN COMMON 209115104 10.0441 Sole 253 None Sole COVIDIEN LTD. CMN COMMON G2552X108 2367.375 Sole 53500 None Sole DUNCAN ENERGY PARTNERS L.P. CM COMMON 265026104 364.056 Sole 19700 None Sole EAGLE ROCK ENERGY PARTNERS, LP COMMON 26985R104 1520.64 Sole 105600 None Sole ELI LILLY & CO CMN COMMON 532457108 12505.416 Sole 242400 None Sole EMERSON ELECTRIC CO. CMN COMMON 291011104 308.76 Sole 6000 None Sole ENBRIDGE ENERGY MGMT, LLC CMN COMMON 29250X103 1264.91493 Sole 26011 None Sole ENBRIDGE ENERGY PARTNERS L P C COMMON 29250R106 946.245 Sole 19900 None Sole ENTERPRISE PRODUCTS PART L.P C COMMON 293792107 1468.1601 Sole 49433 None Sole EXXON MOBIL CORPORATION CMN COMMON 30231G10 10150.78412 Sole 120014 None Sole GENERAL ELECTRIC CO CMN COMMON 369604103 20929.155 Sole 565500 None Sole GOLDMAN SACHS GROUP, INC.(THE) COMMON 38141G104 446.553 Sole 2700 None Sole GOOGLE, INC. CMN CLASS A COMMON 38259P508 333.87626 Sole 758 None Sole HARTFORD FINANCIAL SRVCS GROUP COMMON 416515104 11433.693 Sole 150900 None Sole HOSPIRA, INC. CMN COMMON 441060100 4699.9953 Sole 109890 None Sole JAMBA,INC. CMN COMMON 47023A101 31.8 Sole 12000 None Sole JOHNSON & JOHNSON CMN COMMON 478160104 11631.191 Sole 179300 None Sole KIMBERLY CLARK CORP CMN COMMON 494368103 11451.17 Sole 177400 None Sole KINDER MORGAN ENERGY PARTNERS, COMMON 494550106 5580.18477 Sole 102033 None Sole KINDER MORGAN MANAGEMENT, LLC COMMON 49455U100 6826.00434 Sole 133922 None Sole KRAFT FOODS INC CMN CLASS A COMMON 50075N104 27.25779 Sole 879 None Sole LEHMAN BROTHERS HOLDINGS INC C COMMON 524908100 3349.96 Sole 89000 None Sole LOEWS CORP CMN COMMON 540424108 16892.4 Sole 420000 None Sole MAGELLAN MIDSTREAM PARTNERS LP COMMON 559080106 1725.3 Sole 42600 None Sole MEDCO HEALTH SOLUTIONS, INC. C COMMON 58405U102 13412.78942 Sole 306298 None Sole MICROSOFT CORPORATION CMN COMMON 594918104 284.59464 Sole 10028 None Sole MIDDLESEX WATER CO CMN COMMON 596680108 121.05456 Sole 6666 None Sole NIKE CLASS-B CMN CLASS B COMMON 654106103 2.72 Sole 40 None Sole NORFOLK SOUTHERN CORPORATION C COMMON 655844108 61.9248 Sole 1140 None Sole ONEOK PARTNERS, L.P. LIMITED P COMMON 68268N103 1414.5 Sole 24600 None Sole PEPSICO INC CMN COMMON 713448108 259.92 Sole 3600 None Sole PFIZER INC. CMN COMMON 717081103 22390.39075 Sole 1069775 None Sole PHILIP MORRIS INTL INC CMN COMMON 718172109 2597.283 Sole 51350 None Sole PLAINS ALL AMERICAN PIPELINE L COMMON 726503105 2015.696 Sole 42400 None Sole PROCTER & GAMBLE COMPANY (THE) COMMON 742718109 19931.20129 Sole 284447 None Sole SIGMA-ALDRICH CORPORATION CMN COMMON 826552101 7587.48 Sole 127200 None Sole STANDARD & POORS DEP RCPTS SPD COMMON 78462F10 283.7355 Sole 2150 None Sole STATE STREET CORPORATION (NEW) COMMON 857477103 663.6 Sole 8400 None Sole STD & PRS 400 MID-CAP DEP RCPT COMMON 59563510 324.668 Sole 2300 None Sole SUNOCO LOGISTICS PARTNERS LP C COMMON 86764L108 585.6 Sole 12000 None Sole TARGA RESOURCES PARTNERS LP CM COMMON 87611X105 255.75 Sole 11000 None Sole TC PIPELINES, L.P. CMN COMMON 87233Q108 3411.54 Sole 99000 None Sole TEPPCO PARTNERS L.P. UNITS REP COMMON 872384102 1043.3225 Sole 30250 None Sole TIFFANY & CO CMN COMMON 886547108 209.2 Sole 5000 None Sole TOOTSIE ROLL & IND. CMN COMMON 890516107 0.7056 Sole 28 None Sole TOOTSIE ROLL INDS INC CL-B CMN COMMON 89051620 17.787 Sole 726 None Sole UNITEDHEALTH GROUP INCORPORATE COMMON 91324P102 68.72 Sole 2000 None Sole WALT DISNEY COMPANY (THE) CMN COMMON 254687106 6900.462 Sole 219900 None Sole WILLIAMS PARTNERS L. P. CMN COMMON 96950F104 847.35 Sole 26900 None Sole WILLIAMS PIPELINE PARTNERS L.P COMMON 96950K103 415.31 Sole 23800 None Sole WILLIAMS SONOMA INC CMN COMMON 969904101 116261.8999 Sole 4796283 None Sole WYETH CMN COMMON 983024100 354.96 Sole 8500 None Sole ZIMMER HLDGS INC CMN COMMON 98956P102 17959.1876 Sole 230660 None Sole 401848.7484