Filed: 11/13/2025ACC: 0001104659-25-111024
📋 What this filing means
CLIFFWATER LLC filed this quarterly 13F‑HR report disclosing 22 equity positions with a total reported market value of $474.69M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
22
Positions
$474.69M
Total AUM (reported)
10.29M
Total Shares
Allocation by class
TOTAL STK MKT$114.24M24.1%
COMMON STOCK$81.87M17.2%
VNG RUS3000IDX$69.44M14.6%
MSCI ACWI EX US$68.17M14.4%
INTER TERM TREAS$46.34M9.8%
VAN FTSE DEV MKT$46.15M9.7%
COM$11.50M2.4%
Portfolio Concentration
Top 3$265.55M55.9%
4–10$195.09M41.1%
11–25$14.06M3.0%
Top 3 weight
55.9%
Top 10 weight
97.0%
Voting Authority Distribution
Total shares with voting rights: 10.29M
Sole
Full voting authority
10.29M
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)
Sole22
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings22
Rows:
VANGUARD INDEX FDS
SOLEShares348.10K
TypeSH
Market value$114.24M
24.07%
Sole
348.10K
Shared
0.00
None
0.00
BLUE OWL TECHNOLOGY FIN CORP
SOLEShares5.92M
TypeSH
Market value$81.87M
17.25%
Sole
5.92M
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares235.94K
TypeSH
Market value$69.44M
14.63%
Sole
235.94K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.05M
TypeSH
Market value$68.17M
14.36%
Sole
1.05M
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares772.03K
TypeSH
Market value$46.34M
9.76%
Sole
772.03K
Shared
0.00
None
0.00
VANGUARD TAX-MANAGED FDS
SOLEShares770.18K
TypeSH
Market value$46.15M
9.72%
Sole
770.18K
Shared
0.00
None
0.00
VANGUARD INTL EQUITY INDEX F
SOLEShares208.32K
TypeSH
Market value$11.29M
2.38%
Sole
208.32K
Shared
0.00
None
0.00
SPDR S&P 500 ETF TR
SOLEShares12.20K
TypeSH
Market value$8.13M
1.71%
Sole
12.20K
Shared
0.00
None
0.00
CVB FINL CORP
SOLEShares412.25K
TypeSH
Market value$7.80M
1.64%
Sole
412.25K
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares90.21K
TypeSH
Market value$7.21M
1.52%
Sole
90.21K
Shared
0.00
None
0.00
VANGUARD INDEX FDS
SOLEShares69.92K
TypeSH
Market value$6.39M
1.35%
Sole
69.92K
Shared
0.00
None
0.00
CARLYLE SECURED LENDING INC
SOLEShares207.32K
TypeSH
Market value$2.59M
0.55%
Sole
207.32K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares40.40K
TypeSH
Market value$2.16M
0.45%
Sole
40.40K
Shared
0.00
None
0.00
BARINGS BDC INC
SOLEShares126.75K
TypeSH
Market value$1.11M
0.23%
Sole
126.75K
Shared
0.00
None
0.00
CARVANA CO
SOLEShares1.86K
TypeSH
Market value$703.6K
0.15%
Sole
1.86K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.21K
TypeSH
Market value$293.5K
0.06%
Sole
1.21K
Shared
0.00
None
0.00
RUBRIK INC.
SOLEShares3.18K
TypeSH
Market value$261.9K
0.06%
Sole
3.18K
Shared
0.00
None
0.00
TOAST INC
SOLEShares4.48K
TypeSH
Market value$163.4K
0.03%
Sole
4.48K
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
ISHARES TR
SOLEShares1.04K
TypeSH
Market value$90.5K
0.02%
Sole
1.04K
Shared
0.00
None
0.00
NU HLDGS LTD
SOLEShares5.47K
TypeSH
Market value$87.6K
0.02%
Sole
5.47K
Shared
0.00
None
0.00
OSCAR HEALTH INC
SOLEShares4.43K
TypeSH
Market value$83.9K
0.02%
Sole
4.43K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
VANGUARD INDEX FDSSOLE | TOTAL STK MKT | 348.10K | SH | $114.24M 24.07% | 348.10K | 0.00 | 0.00 |
BLUE OWL TECHNOLOGY FIN CORPSOLE | COMMON STOCK | 5.92M | SH | $81.87M 17.25% | 5.92M | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | VNG RUS3000IDX | 235.94K | SH | $69.44M 14.63% | 235.94K | 0.00 | 0.00 |
ISHARES TRSOLE | MSCI ACWI EX US | 1.05M | SH | $68.17M 14.36% | 1.05M | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | INTER TERM TREAS | 772.03K | SH | $46.34M 9.76% | 772.03K | 0.00 | 0.00 |
VANGUARD TAX-MANAGED FDSSOLE | VAN FTSE DEV MKT | 770.18K | SH | $46.15M 9.72% | 770.18K | 0.00 | 0.00 |
VANGUARD INTL EQUITY INDEX FSOLE | FTSE EMR MKT ETF | 208.32K | SH | $11.29M 2.38% | 208.32K | 0.00 | 0.00 |
SPDR S&P 500 ETF TRSOLE | TR UNIT | 12.20K | SH | $8.13M 1.71% | 12.20K | 0.00 | 0.00 |
CVB FINL CORPSOLE | COM | 412.25K | SH | $7.80M 1.64% | 412.25K | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | SHRT TRM CORP BD | 90.21K | SH | $7.21M 1.52% | 90.21K | 0.00 | 0.00 |
VANGUARD INDEX FDSSOLE | REAL ESTATE ETF | 69.92K | SH | $6.39M 1.35% | 69.92K | 0.00 | 0.00 |
CARLYLE SECURED LENDING INCSOLE | COM | 207.32K | SH | $2.59M 0.55% | 207.32K | 0.00 | 0.00 |
ISHARES TRSOLE | MSCI EMG MKT ETF | 40.40K | SH | $2.16M 0.45% | 40.40K | 0.00 | 0.00 |
BARINGS BDC INCSOLE | COM | 126.75K | SH | $1.11M 0.23% | 126.75K | 0.00 | 0.00 |
CARVANA COSOLE | CL A | 1.86K | SH | $703.6K 0.15% | 1.86K | 0.00 | 0.00 |
ISHARES TRSOLE | RUSSELL 2000 ETF | 1.21K | SH | $293.5K 0.06% | 1.21K | 0.00 | 0.00 |
RUBRIK INC.SOLE | CL A | 3.18K | SH | $261.9K 0.06% | 3.18K | 0.00 | 0.00 |
TOAST INCSOLE | CL A | 4.48K | SH | $163.4K 0.03% | 4.48K | 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 |
ISHARES TRSOLE | CORE MSCI EAFE | 1.04K | SH | $90.5K 0.02% | 1.04K | 0.00 | 0.00 |
NU HLDGS LTDSOLE | ORD SHS CL A | 5.47K | SH | $87.6K 0.02% | 5.47K | 0.00 | 0.00 |
OSCAR HEALTH INCSOLE | CL A | 4.43K | SH | $83.9K 0.02% | 4.43K | 0.00 | 0.00 |