Walkers miss it. Not because it is rare. Because it looks like grass. The pillwort grows in shallow wetlands and muddy margins where water levels fluctuate seasonally. Its leaves are thin and cylindrical, resembling grass blades. Small spherical sporocarps form at the base of the leaves, resembling tiny pills. This cryptic appearance helps it survive in disturbed habitats. The species inhabits shallow wetlands and muddy margins throughout New Zealand. It prefers seasonal water bodies that dry out periodically, thriving where water levels fluctuate. Unlike permanent wetland ferns, pillwort can survive brief dry periods by remaining dormant in mud. Spores are produced inside the spherical sporocarps. These spores are released when the sporocarps decay, settling into mud where they remain dormant until water returns. Diet consists of nutrients obtained through photosynthesis and absorption from mud via shallow root systems. The fern does not consume organic matter directly but rather extracts minerals and water from surrounding substrate. This autotrophic lifestyle allows it to thrive in nutrient-rich wetland soils where other plants struggle. Classified as Nationally Vulnerable, pillwort faces an uncertain future. Its distribution is restricted to specific wetland areas. Habitat loss from drainage and agricultural conversion threatens remaining populations. Climate change may alter rainfall patterns affecting seasonal water availability. Each threat compounds the others. The pillwort has nowhere else to go. It is specialised for seasonal wetlands. If these habitats disappear, it disappears. Conservation efforts focus on protecting remaining seasonal wetlands from drainage and maintaining natural hydrological regimes.