Filed: 5/14/2025ACC: 0001104659-25-048072
📋 What this filing means
CLIFFWATER LLC filed this quarterly 13F‑HR report disclosing 23 equity positions with a total reported market value of $382.54M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
23
Positions
$382.54M
Total AUM (reported)
6.72M
Total Shares
Allocation by class
TOTAL STK MKT$96.34M25.2%
VNG RUS3000IDX$64.67M16.9%
MSCI ACWI EX US$60.92M15.9%
INTER TERM TREAS$45.61M11.9%
VAN FTSE DEV MKT$39.32M10.3%
COMMON STOCK$27.98M7.3%
FTSE EMR MKT ETF$9.47M2.5%
Portfolio Concentration
Top 3$221.93M58.0%
4–10$144.67M37.8%
11–25$15.94M4.2%
Top 3 weight
58.0%
Top 10 weight
95.8%
Voting Authority Distribution
Total shares with voting rights: 6.72M
Sole
Full voting authority
6.72M
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)
Sole23
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings23
Rows:
VANGUARD INDEX FDS
SOLEShares350.52K
TypeSH
Market value$96.34M
25.18%
Sole
350.52K
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares262.09K
TypeSH
Market value$64.67M
16.91%
Sole
262.09K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.10M
TypeSH
Market value$60.92M
15.93%
Sole
1.10M
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares767.86K
TypeSH
Market value$45.61M
11.92%
Sole
767.86K
Shared
0.00
None
0.00
VANGUARD TAX-MANAGED FDS
SOLEShares773.64K
TypeSH
Market value$39.32M
10.28%
Sole
773.64K
Shared
0.00
None
0.00
FRANKLIN BSP RLTY TR INC
SOLEShares2.20M
TypeSH
Market value$27.98M
7.31%
Sole
2.20M
Shared
0.00
None
0.00
VANGUARD INTL EQUITY INDEX F
SOLEShares209.30K
TypeSH
Market value$9.47M
2.48%
Sole
209.30K
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares99.43K
TypeSH
Market value$7.85M
2.05%
Sole
99.43K
Shared
0.00
None
0.00
CVB FINL CORP
SOLEShares412.25K
TypeSH
Market value$7.61M
1.99%
Sole
412.25K
Shared
0.00
None
0.00
SPDR S&P 500 ETF TR
SOLEShares12.20K
TypeSH
Market value$6.83M
1.78%
Sole
12.20K
Shared
0.00
None
0.00
VANGUARD INDEX FDS
SOLEShares69.92K
TypeSH
Market value$6.33M
1.65%
Sole
69.92K
Shared
0.00
None
0.00
MORGAN STANLEY DIRECT LENDIN
SOLEShares242.19K
TypeSH
Market value$4.83M
1.26%
Sole
242.19K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares40.40K
TypeSH
Market value$1.77M
0.46%
Sole
40.40K
Shared
0.00
None
0.00
BARINGS BDC INC
SOLEShares126.75K
TypeSH
Market value$1.21M
0.32%
Sole
126.75K
Shared
0.00
None
0.00
TEMPUS AI INC
SOLEShares13.82K
TypeSH
Market value$666.9K
0.17%
Sole
13.82K
Shared
0.00
None
0.00
TECTONIC THERAPEUTIC INC
SOLEShares15.37K
TypeSH
Market value$272.2K
0.07%
Sole
15.37K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.21K
TypeSH
Market value$242.0K
0.06%
Sole
1.21K
Shared
0.00
None
0.00
RUBRIK INC.
SOLEShares3.18K
TypeSH
Market value$194.2K
0.05%
Sole
3.18K
Shared
0.00
None
0.00
INVESCO EXCH TRADED FD TR II
SOLEShares5.90K
TypeSH
Market value$122.2K
0.03%
Sole
5.90K
Shared
0.00
None
0.00
TOAST INC
SOLEShares3.20K
TypeSH
Market value$106.0K
0.03%
Sole
3.20K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.04K
TypeSH
Market value$78.4K
0.02%
Sole
1.04K
Shared
0.00
None
0.00
OSCAR HEALTH INC
SOLEShares4.43K
TypeSH
Market value$58.1K
0.02%
Sole
4.43K
Shared
0.00
None
0.00
NU HLDGS LTD
SOLEShares5.47K
TypeSH
Market value$56.0K
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 | 350.52K | SH | $96.34M 25.18% | 350.52K | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | VNG RUS3000IDX | 262.09K | SH | $64.67M 16.91% | 262.09K | 0.00 | 0.00 |
ISHARES TRSOLE | MSCI ACWI EX US | 1.10M | SH | $60.92M 15.93% | 1.10M | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | INTER TERM TREAS | 767.86K | SH | $45.61M 11.92% | 767.86K | 0.00 | 0.00 |
VANGUARD TAX-MANAGED FDSSOLE | VAN FTSE DEV MKT | 773.64K | SH | $39.32M 10.28% | 773.64K | 0.00 | 0.00 |
FRANKLIN BSP RLTY TR INCSOLE | COMMON STOCK | 2.20M | SH | $27.98M 7.31% | 2.20M | 0.00 | 0.00 |
VANGUARD INTL EQUITY INDEX FSOLE | FTSE EMR MKT ETF | 209.30K | SH | $9.47M 2.48% | 209.30K | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | SHRT TRM CORP BD | 99.43K | SH | $7.85M 2.05% | 99.43K | 0.00 | 0.00 |
CVB FINL CORPSOLE | COM | 412.25K | SH | $7.61M 1.99% | 412.25K | 0.00 | 0.00 |
SPDR S&P 500 ETF TRSOLE | TR UNIT | 12.20K | SH | $6.83M 1.78% | 12.20K | 0.00 | 0.00 |
VANGUARD INDEX FDSSOLE | REAL ESTATE ETF | 69.92K | SH | $6.33M 1.65% | 69.92K | 0.00 | 0.00 |
MORGAN STANLEY DIRECT LENDINSOLE | COM SHS | 242.19K | SH | $4.83M 1.26% | 242.19K | 0.00 | 0.00 |
ISHARES TRSOLE | MSCI EMG MKT ETF | 40.40K | SH | $1.77M 0.46% | 40.40K | 0.00 | 0.00 |
BARINGS BDC INCSOLE | COM | 126.75K | SH | $1.21M 0.32% | 126.75K | 0.00 | 0.00 |
TEMPUS AI INCSOLE | CL A | 13.82K | SH | $666.9K 0.17% | 13.82K | 0.00 | 0.00 |
TECTONIC THERAPEUTIC INCSOLE | COM | 15.37K | SH | $272.2K 0.07% | 15.37K | 0.00 | 0.00 |
ISHARES TRSOLE | RUSSELL 2000 ETF | 1.21K | SH | $242.0K 0.06% | 1.21K | 0.00 | 0.00 |
RUBRIK INC.SOLE | CL A | 3.18K | SH | $194.2K 0.05% | 3.18K | 0.00 | 0.00 |
INVESCO EXCH TRADED FD TR IISOLE | SR LN ETF | 5.90K | SH | $122.2K 0.03% | 5.90K | 0.00 | 0.00 |
TOAST INCSOLE | CL A | 3.20K | SH | $106.0K 0.03% | 3.20K | 0.00 | 0.00 |
ISHARES TRSOLE | CORE MSCI EAFE | 1.04K | SH | $78.4K 0.02% | 1.04K | 0.00 | 0.00 |
OSCAR HEALTH INCSOLE | CL A | 4.43K | SH | $58.1K 0.02% | 4.43K | 0.00 | 0.00 |
NU HLDGS LTDSOLE | ORD SHS CL A | 5.47K | SH | $56.0K 0.01% | 5.47K | 0.00 | 0.00 |