Filed: 8/13/2025ACC: 0001104659-25-077496
📋 What this filing means
CLIFFWATER LLC filed this quarterly 13F‑HR report disclosing 24 equity positions with a total reported market value of $486.33M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
24
Positions
$486.33M
Total AUM (reported)
12.36M
Total Shares
Allocation by class
COMMON STOCK$112.78M23.2%
TOTAL STK MKT$106.43M21.9%
VNG RUS3000IDX$64.35M13.2%
MSCI ACWI EX US$63.90M13.1%
VAN FTSE DEV MKT$43.96M9.0%
INTER TERM TREAS$42.47M8.7%
COM$16.82M3.5%
Portfolio Concentration
Top 3$272.63M56.1%
4–10$187.44M38.5%
11–25$26.26M5.4%
Top 3 weight
56.1%
Top 10 weight
94.6%
Voting Authority Distribution
Total shares with voting rights: 12.36M
Sole
Full voting authority
12.36M
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)
Sole24
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings24
Rows:
VANGUARD INDEX FDS
SOLEShares350.19K
TypeSH
Market value$106.43M
21.89%
Sole
350.19K
Shared
0.00
None
0.00
BLUE OWL TECHNOLOGY FIN CORP
SOLEShares6.68M
TypeSH
Market value$101.84M
20.94%
Sole
6.68M
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares235.94K
TypeSH
Market value$64.35M
13.23%
Sole
235.94K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.05M
TypeSH
Market value$63.90M
13.14%
Sole
1.05M
Shared
0.00
None
0.00
VANGUARD TAX-MANAGED FDS
SOLEShares771.12K
TypeSH
Market value$43.96M
9.04%
Sole
771.12K
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares710.09K
TypeSH
Market value$42.47M
8.73%
Sole
710.09K
Shared
0.00
None
0.00
FRANKLIN BSP RLTY TR INC
SOLEShares1.02M
TypeSH
Market value$10.93M
2.25%
Sole
1.02M
Shared
0.00
None
0.00
VANGUARD INTL EQUITY INDEX F
SOLEShares208.61K
TypeSH
Market value$10.32M
2.12%
Sole
208.61K
Shared
0.00
None
0.00
CVB FINL CORP
SOLEShares412.25K
TypeSH
Market value$8.16M
1.68%
Sole
412.25K
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares96.81K
TypeSH
Market value$7.70M
1.58%
Sole
96.81K
Shared
0.00
None
0.00
SPDR S&P 500 ETF TR
SOLEShares12.20K
TypeSH
Market value$7.54M
1.55%
Sole
12.20K
Shared
0.00
None
0.00
CARLYLE SECURED LENDING INC
SOLEShares548.62K
TypeSH
Market value$7.51M
1.54%
Sole
548.62K
Shared
0.00
None
0.00
VANGUARD INDEX FDS
SOLEShares69.92K
TypeSH
Market value$6.23M
1.28%
Sole
69.92K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares40.40K
TypeSH
Market value$1.95M
0.40%
Sole
40.40K
Shared
0.00
None
0.00
BARINGS BDC INC
SOLEShares126.75K
TypeSH
Market value$1.16M
0.24%
Sole
126.75K
Shared
0.00
None
0.00
CARVANA CO
SOLEShares1.86K
TypeSH
Market value$628.4K
0.13%
Sole
1.86K
Shared
0.00
None
0.00
RUBRIK INC.
SOLEShares3.18K
TypeSH
Market value$285.3K
0.06%
Sole
3.18K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.21K
TypeSH
Market value$261.8K
0.05%
Sole
1.21K
Shared
0.00
None
0.00
TOAST INC
SOLEShares4.48K
TypeSH
Market value$198.2K
0.04%
Sole
4.48K
Shared
0.00
None
0.00
PAYMENTUS HOLDINGS INC
SOLEShares3.79K
TypeSH
Market value$124.1K
0.03%
Sole
3.79K
Shared
0.00
None
0.00
INVESCO EXCH TRADED FD TR II
SOLEShares5.90K
TypeSH
Market value$123.5K
0.03%
Sole
5.90K
Shared
0.00
None
0.00
OSCAR HEALTH INC
SOLEShares4.43K
TypeSH
Market value$95.0K
0.02%
Sole
4.43K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.04K
TypeSH
Market value$86.5K
0.02%
Sole
1.04K
Shared
0.00
None
0.00
NU HLDGS LTD
SOLEShares5.47K
TypeSH
Market value$75.1K
0.02%
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 | 350.19K | SH | $106.43M 21.89% | 350.19K | 0.00 | 0.00 |
BLUE OWL TECHNOLOGY FIN CORPSOLE | COMMON STOCK | 6.68M | SH | $101.84M 20.94% | 6.68M | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | VNG RUS3000IDX | 235.94K | SH | $64.35M 13.23% | 235.94K | 0.00 | 0.00 |
ISHARES TRSOLE | MSCI ACWI EX US | 1.05M | SH | $63.90M 13.14% | 1.05M | 0.00 | 0.00 |
VANGUARD TAX-MANAGED FDSSOLE | VAN FTSE DEV MKT | 771.12K | SH | $43.96M 9.04% | 771.12K | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | INTER TERM TREAS | 710.09K | SH | $42.47M 8.73% | 710.09K | 0.00 | 0.00 |
FRANKLIN BSP RLTY TR INCSOLE | COMMON STOCK | 1.02M | SH | $10.93M 2.25% | 1.02M | 0.00 | 0.00 |
VANGUARD INTL EQUITY INDEX FSOLE | FTSE EMR MKT ETF | 208.61K | SH | $10.32M 2.12% | 208.61K | 0.00 | 0.00 |
CVB FINL CORPSOLE | COM | 412.25K | SH | $8.16M 1.68% | 412.25K | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | SHRT TRM CORP BD | 96.81K | SH | $7.70M 1.58% | 96.81K | 0.00 | 0.00 |
SPDR S&P 500 ETF TRSOLE | TR UNIT | 12.20K | SH | $7.54M 1.55% | 12.20K | 0.00 | 0.00 |
CARLYLE SECURED LENDING INCSOLE | COM | 548.62K | SH | $7.51M 1.54% | 548.62K | 0.00 | 0.00 |
VANGUARD INDEX FDSSOLE | REAL ESTATE ETF | 69.92K | SH | $6.23M 1.28% | 69.92K | 0.00 | 0.00 |
ISHARES TRSOLE | MSCI EMG MKT ETF | 40.40K | SH | $1.95M 0.40% | 40.40K | 0.00 | 0.00 |
BARINGS BDC INCSOLE | COM | 126.75K | SH | $1.16M 0.24% | 126.75K | 0.00 | 0.00 |
CARVANA COSOLE | CL A | 1.86K | SH | $628.4K 0.13% | 1.86K | 0.00 | 0.00 |
RUBRIK INC.SOLE | CL A | 3.18K | SH | $285.3K 0.06% | 3.18K | 0.00 | 0.00 |
ISHARES TRSOLE | RUSSELL 2000 ETF | 1.21K | SH | $261.8K 0.05% | 1.21K | 0.00 | 0.00 |
TOAST INCSOLE | CL A | 4.48K | SH | $198.2K 0.04% | 4.48K | 0.00 | 0.00 |
PAYMENTUS HOLDINGS INCSOLE | COM CL A | 3.79K | SH | $124.1K 0.03% | 3.79K | 0.00 | 0.00 |
INVESCO EXCH TRADED FD TR IISOLE | SR LN ETF | 5.90K | SH | $123.5K 0.03% | 5.90K | 0.00 | 0.00 |
OSCAR HEALTH INCSOLE | CL A | 4.43K | SH | $95.0K 0.02% | 4.43K | 0.00 | 0.00 |
ISHARES TRSOLE | CORE MSCI EAFE | 1.04K | SH | $86.5K 0.02% | 1.04K | 0.00 | 0.00 |
NU HLDGS LTDSOLE | ORD SHS CL A | 5.47K | SH | $75.1K 0.02% | 5.47K | 0.00 | 0.00 |