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C
Cliffwater Portfolio holdings
AUM
$377M
1-Year Est. Return
5.73%
This Fund
S&P 500
This Quarter
Est. Return
+7.22%
1 Year Est. Return
+5.73%
3 Year Est. Return
+28.54%
5 Year Est. Return
+19.31%
10 Year Est. Return
–
AUM
$350M
AUM Growth
+$44.4M
(+15%)
Cap. Flow
+$21.7M
Cap. Flow
% of AUM
6.21%
Top 10 Holdings %
Top 10 Hldgs %
82.24%
Holding
27
New
1
Increased
6
Reduced
11
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Intermediate-Term Treasury ETF
VGIT
|
+$44.1M |
| 2 |
Vanguard Total Stock Market ETF
VTI
|
+$2M |
| 3 |
Vanguard FTSE Developed Markets ETF
VEA
|
+$918K |
| 4 |
Blackstone Secured Lending
BXSL
|
+$574K |
| 5 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$185K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Russell 3000 ETF
VTHR
|
+$6.57M |
| 2 |
Sixth Street Specialty
TSLX
|
+$3.11M |
| 3 |
Blue Owl Capital
OBDC
|
+$2.32M |
| 4 |
SLR Investment Corp
SLRC
|
+$2.23M |
| 5 |
Ares Capital
ARCC
|
+$1.92M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.98% |
| 2 | Real Estate | 8.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
MRCC
26
DELISTED
Monroe Capital Corp
MRCC
| – | – |
-78,440
| Closed | -$584K |
|
|
27
SLR Investment Corp
SLRC
$716M
| – | – |
-144,816
| Closed | -$2.23M |
|
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Cliffwater's Q4 2023 Portfolio in Review
As of Q4 2023, Cliffwater held 27 positions worth $350M, up 15% from $305M the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Cliffwater deployed $21.7M of net new capital in Q4 2023, opening 1 new position and adding to 6 existing holdings. Its largest new stake was Vanguard Intermediate-Term Treasury ETF: 764,293 shares worth $45.3M.
By sector, the portfolio is most concentrated in Financials at 28% of assets, down from 37% a quarter earlier, followed by Real Estate.
On the sell side, the largest reduction was Vanguard Russell 3000 ETF, an estimated $6.57M trimmed.
- Cliffwater's largest Q4 2023 buy was Vanguard Intermediate-Term Treasury ETF: 764,293 shares worth $45.3M.
- Cliffwater added most to Vanguard Total Stock Market ETF in Q4 2023, an estimated $2M increase.
- Cliffwater's biggest Q4 2023 reduction was Vanguard Russell 3000 ETF, cutting an estimated $6.57M.
- Cliffwater fully exited SLR Investment Corp in Q4 2023, selling an estimated $2.23M.
- Cliffwater's ten largest holdings make up 82% of its $350M portfolio in Q4 2023.
- Cliffwater opened 1 new position and closed 4 in Q4 2023.
- Cliffwater's portfolio value rose 15% quarter-over-quarter to $350M.
Based on Cliffwater's 13F filing for Q4 2023, filed 13 Feb 2024.