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C
Cliffwater Portfolio holdings
AUM
$402M
Turnover
9.09%
1-Year Est. Return
7.57%
This Fund
S&P 500
This Quarter Est. Return
+6.39%
1 Year Est. Return
+7.57%
3 Year Est. Return
+29.41%
5 Year Est. Return
+20.56%
10 Year Est. Return
–
AUM
$402M
AUM Growth
+$24.3M
(+6.4%)
Cap. Flow
+$2.41M
Cap. Flow % of AUM
Cap. Flow %
0.6%
Top 10 Holdings %
Top 10 Hldgs %
96.3%
Holding
22
New
2
Increased
1
Reduced
3
Closed
–
Avg Time Held
4.6
years
Top 10 Avg Time Held
3.3
years
Top 20 Avg Time Held
3.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Intermediate-Term Treasury ETF
VGIT
|
+$25.3M |
| 2 |
FRBT
Forbright Inc
FRBT
|
+$5.08M |
| 3 |
Xeris Biopharma Holdings
XERS
|
+$1.68M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Russell 3000 ETF
VTHR
|
+$24.4M |
| 2 |
Vanguard Morningstar Total Stock Market ETF
VTI
|
+$5.19M |
| 3 |
Vanguard FTSE Developed Markets ETF
VEA
|
+$90.6K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 79.51% |
| 2 | Financials | 19.66% |
| 3 | Healthcare | 0.55% |
| 4 | Consumer Discretionary | 0.15% |
| 5 | Technology | 0.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Vanguard Morningstar Total Stock Market ETF
VTI
$692B
| $114M | 28.29% |
307,085
-14,527
| -5% | -$5.19M |
2017 Q4
34 quarters
|
|
|
2
Vanguard Intermediate-Term Treasury ETF
VGIT
$39.9B
| $70.8M | 17.63% |
1,200,527
+428,497
| +56% | +$25.3M |
2023 Q4
10 quarters
|
|
3
Blue Owl Technology Finance Corp
OTF
$4.13B
| $61.2M | 15.23% |
5,908,955
| – | – |
2025 Q2
4 quarters
|
|
|
4
Vanguard FTSE Developed Markets ETF
VEA
$227B
| $54.8M | 13.64% |
768,881
-1,300
| -0.2% | -$90.6K |
2017 Q4
34 quarters
|
|
|
5
Vanguard Russell 3000 ETF
VTHR
$4.9B
| $42.9M | 10.67% |
129,315
-76,188
| -37% | -$24.4M |
2020 Q3
23 quarters
|
|
6
Vanguard FTSE Emerging Markets ETF
VWO
$123B
| $12.4M | 3.1% |
208,320
| – | – |
2017 Q4
34 quarters
|
|
7
CVB Financial
CVBF
$3.85B
| $9.3M | 2.31% |
412,247
| – | – |
2018 Q3
31 quarters
|
|
8
State Street SPDR S&P 500 ETF Trust
SPY
$817B
| $8.03M | 2% |
10,752
| – | – |
2017 Q4
34 quarters
|
|
9
Vanguard Short-Term Corporate Bond ETF
VCSH
$43.9B
| $7.07M | 1.76% |
89,515
| – | – |
2017 Q4
34 quarters
|
|
10
Vanguard Real Estate ETF
VNQ
$36.4B
| $6.74M | 1.68% |
69,923
| – | – |
2017 Q4
34 quarters
|
|
|
FRBT
11
Forbright Inc
FRBT
$862M
| $5.13M | 1.28% |
+280,309
| New | +$5.08M |
2026 Q2
0 quarters
|
|
12
iShares MSCI Emerging Markets ETF
EEM
$29.3B
| $2.76M | 0.69% |
40,400
| – | – |
2017 Q4
34 quarters
|
|
13
Carlyle Secured Lending
CGBD
$705M
| $2.18M | 0.54% |
207,319
| – | – |
2025 Q2
4 quarters
|
|
|
14
Xeris Biopharma Holdings
XERS
$2B
| $2.08M | 0.52% |
+263,158
| New | +$1.68M |
2026 Q2
0 quarters
|
|
15
Barings BDC
BBDC
$871M
| $1.08M | 0.27% |
126,753
| – | – |
2019 Q2
28 quarters
|
|
16
Carvana
CVNA
$64.6B
| $614K | 0.15% |
9,325
| – | – |
2025 Q2
4 quarters
|
|
17
Toast
TOST
$18.2B
| $267K | 0.07% |
9,591
| – | – |
2024 Q4
6 quarters
|
|
18
Rubrik
RBRK
$23.5B
| $256K | 0.06% |
3,184
| – | – |
2025 Q1
5 quarters
|
|
19
Nu Holdings
NU
$70.1B
| $127K | 0.03% |
9,485
| – | – |
2024 Q4
6 quarters
|
|
20
Oscar Health
OSCR
$10B
| $126K | 0.03% |
4,431
| – | – |
2025 Q1
5 quarters
|
|
21
Invesco Senior Loan ETF
BKLN
$6.16B
| $120K | 0.03% |
5,902
| – | – |
2024 Q1
9 quarters
|
|
22
iShares Core MSCI EAFE ETF
IEFA
$189B
| $100K | 0.02% |
1,036
| – | – |
2017 Q4
34 quarters
|
|
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Cliffwater's Q2 2026 Portfolio in Review
As of Q2 2026, Cliffwater held 22 positions worth $402M, up 6.4% from $377M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Cliffwater's Q2 2026 filing shows 2 new, 1 increased and 3 reduced positions. Its largest new stake was Forbright Inc: 280,309 shares worth $5.13M. The largest sale was Vanguard Russell 3000 ETF, an estimated $24.4M.
By sector, the portfolio is most concentrated in Miscellaneous at 80% of assets, up from 77% a quarter earlier, followed by Financials and Healthcare.
- Cliffwater's largest Q2 2026 buy was Forbright Inc: 280,309 shares worth $5.13M.
- Cliffwater added most to Vanguard Intermediate-Term Treasury ETF in Q2 2026, an estimated $25.3M increase.
- Cliffwater's biggest Q2 2026 reduction was Vanguard Russell 3000 ETF, cutting an estimated $24.4M.
- Cliffwater's ten largest holdings make up 96% of its $402M portfolio in Q2 2026.
- Cliffwater opened 2 new positions and closed 0 in Q2 2026.
- Cliffwater's portfolio value rose 6.4% quarter-over-quarter to $402M.
Based on Cliffwater's 13F filing for Q2 2026, filed 12 Aug 2026.