Filed: 2/14/2025ACC: 0001104659-25-013716
📋 What this filing means
CLIFFWATER LLC filed this quarterly 13F‑HR report disclosing 19 equity positions with a total reported market value of $408.72M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
19
Positions
$408.72M
Total AUM (reported)
7.88M
Total Shares
Allocation by class
TOTAL STK MKT$101.66M24.9%
VNG RUS3000IDX$68.07M16.7%
MSCI ACWI EX US$57.31M14.0%
INTER TERM TREAS$44.54M10.9%
VAN FTSE DEV MKT$37.01M9.1%
COM SHS$29.87M7.3%
COMMON STOCK$27.54M6.7%
Portfolio Concentration
Top 3$227.05M55.5%
4–10$164.82M40.3%
11–25$16.85M4.1%
Top 3 weight
55.5%
Top 10 weight
95.9%
Voting Authority Distribution
Total shares with voting rights: 7.88M
Sole
Full voting authority
7.88M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole19
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings19
Rows:
VANGUARD INDEX FDS
SOLEShares350.80K
TypeSH
Market value$101.66M
24.87%
Sole
350.80K
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares262.09K
TypeSH
Market value$68.07M
16.66%
Sole
262.09K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.10M
TypeSH
Market value$57.31M
14.02%
Sole
1.10M
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares767.86K
TypeSH
Market value$44.54M
10.90%
Sole
767.86K
Shared
0.00
None
0.00
VANGUARD TAX-MANAGED FDS
SOLEShares774.02K
TypeSH
Market value$37.01M
9.06%
Sole
774.02K
Shared
0.00
None
0.00
MORGAN STANLEY DIRECT LENDIN
SOLEShares1.45M
TypeSH
Market value$29.87M
7.31%
Sole
1.45M
Shared
0.00
None
0.00
FRANKLIN BSP RLTY TR INC
SOLEShares2.20M
TypeSH
Market value$27.54M
6.74%
Sole
2.20M
Shared
0.00
None
0.00
VANGUARD INTL EQUITY INDEX F
SOLEShares209.30K
TypeSH
Market value$9.22M
2.26%
Sole
209.30K
Shared
0.00
None
0.00
CVB FINL CORP
SOLEShares412.25K
TypeSH
Market value$8.83M
2.16%
Sole
412.25K
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares100.19K
TypeSH
Market value$7.82M
1.91%
Sole
100.19K
Shared
0.00
None
0.00
SPDR S&P 500 ETF TR
SOLEShares12.20K
TypeSH
Market value$7.15M
1.75%
Sole
12.20K
Shared
0.00
None
0.00
VANGUARD INDEX FDS
SOLEShares69.92K
TypeSH
Market value$6.23M
1.52%
Sole
69.92K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares40.40K
TypeSH
Market value$1.69M
0.41%
Sole
40.40K
Shared
0.00
None
0.00
BARINGS BDC INC
SOLEShares119.61K
TypeSH
Market value$1.14M
0.28%
Sole
119.61K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.21K
TypeSH
Market value$268.0K
0.07%
Sole
1.21K
Shared
0.00
None
0.00
INVESCO EXCH TRADED FD TR II
SOLEShares5.90K
TypeSH
Market value$124.4K
0.03%
Sole
5.90K
Shared
0.00
None
0.00
TOAST INC CL A
SOLEShares3.20K
TypeSH
Market value$116.5K
0.03%
Sole
3.20K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.04K
TypeSH
Market value$72.8K
0.02%
Sole
1.04K
Shared
0.00
None
0.00
NU HOLDINGS LIMITED REGISTERED SHS -A-
SOLEShares5.47K
TypeSH
Market value$56.7K
0.01%
Sole
5.47K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
VANGUARD INDEX FDSSOLE | TOTAL STK MKT | 350.80K | SH | $101.66M 24.87% | 350.80K | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | VNG RUS3000IDX | 262.09K | SH | $68.07M 16.66% | 262.09K | 0.00 | 0.00 |
ISHARES TRSOLE | MSCI ACWI EX US | 1.10M | SH | $57.31M 14.02% | 1.10M | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | INTER TERM TREAS | 767.86K | SH | $44.54M 10.90% | 767.86K | 0.00 | 0.00 |
VANGUARD TAX-MANAGED FDSSOLE | VAN FTSE DEV MKT | 774.02K | SH | $37.01M 9.06% | 774.02K | 0.00 | 0.00 |
MORGAN STANLEY DIRECT LENDINSOLE | COM SHS | 1.45M | SH | $29.87M 7.31% | 1.45M | 0.00 | 0.00 |
FRANKLIN BSP RLTY TR INCSOLE | COMMON STOCK | 2.20M | SH | $27.54M 6.74% | 2.20M | 0.00 | 0.00 |
VANGUARD INTL EQUITY INDEX FSOLE | FTSE EMR MKT ETF | 209.30K | SH | $9.22M 2.26% | 209.30K | 0.00 | 0.00 |
CVB FINL CORPSOLE | COM | 412.25K | SH | $8.83M 2.16% | 412.25K | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | SHRT TRM CORP BD | 100.19K | SH | $7.82M 1.91% | 100.19K | 0.00 | 0.00 |
SPDR S&P 500 ETF TRSOLE | TR UNIT | 12.20K | SH | $7.15M 1.75% | 12.20K | 0.00 | 0.00 |
VANGUARD INDEX FDSSOLE | REAL ESTATE ETF | 69.92K | SH | $6.23M 1.52% | 69.92K | 0.00 | 0.00 |
ISHARES TRSOLE | MSCI EMG MKT ETF | 40.40K | SH | $1.69M 0.41% | 40.40K | 0.00 | 0.00 |
BARINGS BDC INCSOLE | COM | 119.61K | SH | $1.14M 0.28% | 119.61K | 0.00 | 0.00 |
ISHARES TRSOLE | RUSSELL 2000 ETF | 1.21K | SH | $268.0K 0.07% | 1.21K | 0.00 | 0.00 |
INVESCO EXCH TRADED FD TR IISOLE | SR LN ETF | 5.90K | SH | $124.4K 0.03% | 5.90K | 0.00 | 0.00 |
TOAST INC CL ASOLE | CL A | 3.20K | SH | $116.5K 0.03% | 3.20K | 0.00 | 0.00 |
ISHARES TRSOLE | CORE MSCI EAFE | 1.04K | SH | $72.8K 0.02% | 1.04K | 0.00 | 0.00 |
NU HOLDINGS LIMITED REGISTERED SHS -A-SOLE | ORD SHS CL A | 5.47K | SH | $56.7K 0.01% | 5.47K | 0.00 | 0.00 |