C

Cliffwater Portfolio holdings

AUM $402M Turnover 9.09%
1-Year Est. Return 7.57%
This Fund
S&P 500
This Quarter Est. Return
+0.12%
1 Year Est. Return
+7.57%
3 Year Est. Return
+29.41%
5 Year Est. Return
+20.56%
10 Year Est. Return
–
AUM
$256M
AUM Growth
-$32.1M
Cap. Flow
-$31.5M
Cap. Flow %
-12.32%
Top 10 Hldgs %
85.72%
Holding
21
New
1
Increased
15
Reduced
1
Closed
–
Avg Time Held
1.5 years
Top 10 Avg Time Held
1.5 years
Top 20 Avg Time Held
1.5 years

Top Buys

Rank Stock Value
1
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$14.9M
2
OBDC icon
Blue Owl Capital
OBDC
+$9.7M
3
VCSH icon
Vanguard Short-Term Corporate Bond ETF
VCSH
+$9.57M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$7.27M
5
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$2.84M

Top Sells

Rank Stock Value
1
CVBF icon
CVB Financial
CVBF
+$81.2M

Sector Composition

Rank Sector Weight
1 Miscellaneous 58.39%
2 Financials 41.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
VTI icon
1
Vanguard Morningstar Total Stock Market ETF
VTI
$694B
$55.4M 21.66%
367,149
+98,888
+37% +$14.9M
2017 Q4
7 quarters
VEA icon
2
Vanguard FTSE Developed Markets ETF
VEA
$227B
$54M 21.09%
1,314,251
+178,047
+16% +$7.27M
2017 Q4
7 quarters
CVBF icon
3
CVB Financial
CVBF
$3.76B
$31.8M 12.43%
1,524,901
-3,882,979
-72% -$81.2M
2018 Q3
4 quarters
VCSH icon
4
Vanguard Short-Term Corporate Bond ETF
VCSH
$43.9B
$17.9M 7%
221,143
+118,394
+115% +$9.57M
2017 Q4
7 quarters
ARCC icon
5
Ares Capital
ARCC
$13.3B
$10.8M 4.21%
578,722
+31,124
+6% +$577K
2017 Q4
7 quarters
GBDC icon
6
Golub Capital BDC
GBDC
$3.13B
$10.4M 4.06%
562,744
+29,418
+6% +$529K
2017 Q4
7 quarters
TSLX icon
7
Sixth Street Specialty
TSLX
$1.64B
$10.4M 4.06%
494,850
+26,999
+6% +$548K
2017 Q4
7 quarters
NMFC icon
8
New Mountain Finance
NMFC
$624M
$9.97M 3.9%
731,711
+41,757
+6% +$569K
2017 Q4
7 quarters
OBDC icon
9
Blue Owl Capital
OBDC
$4.98B
$9.54M 3.73%
+605,085
New +$9.7M
2019 Q3
0 quarters
TCPC icon
10
BlackRock TCP Capital
TCPC
$342M
$9.21M 3.6%
679,479
+40,268
+6% +$555K
2017 Q4
7 quarters
VWO icon
11
Vanguard FTSE Emerging Markets ETF
VWO
$124B
$7.65M 2.99%
189,941
+68,753
+57% +$2.84M
2017 Q4
7 quarters
SPY icon
12
State Street SPDR S&P 500 ETF Trust
SPY
$813B
$6.3M 2.46%
21,234
– –
2017 Q4
7 quarters
VNQ icon
13
Vanguard Real Estate ETF
VNQ
$36.2B
$4.93M 1.93%
52,853
+19,536
+59% +$1.77M
2017 Q4
7 quarters
SLRC icon
14
SLR Investment Corp
SLRC
$616M
$3.33M 1.3%
160,995
+8,379
+5% +$172K
2017 Q4
7 quarters
GSBD icon
15
Goldman Sachs BDC
GSBD
$973M
$3.28M 1.28%
163,162
+9,125
+6% +$182K
2017 Q4
7 quarters
MRCC icon
16
DELISTED
Monroe Capital Corp
MRCC
$2.89M 1.13%
273,964
+17,420
+7% +$188K
2017 Q4
7 quarters
BBDC icon
17
Barings BDC
BBDC
$886M
$2.46M 0.96%
242,767
+14,811
+6% +$147K
2019 Q2
1 quarter
OCSL icon
18
Oaktree Specialty Lending
OCSL
$1.01B
$2.46M 0.96%
158,138
+9,849
+7% +$155K
2019 Q2
1 quarter
IWM icon
19
iShares Russell 2000 ETF
IWM
$76.4B
$2.32M 0.91%
15,354
– –
2017 Q4
7 quarters
EEM icon
20
iShares MSCI Emerging Markets ETF
EEM
$29.8B
$866K 0.34%
21,181
– –
2017 Q4
7 quarters
IEFA icon
21
iShares Core MSCI EAFE ETF
IEFA
$189B
$63K 0.02%
1,036
– –
2017 Q4
7 quarters

Similar funds

GMF
Grace & Mercy Foundation New York $402M AUM 6.97% 1-Year Est. Return
SWM
Sterling Wealth Management Champaign, Illinois $402M AUM 20.65% 1-Year Est. Return
HWMO
Heritage Wealth Management (Ohio) Cincinnati, Ohio $401M AUM 32.53% 1-Year Est. Return
ACM
Absolute Capital Management Pittsburgh, Pennsylvania $401M AUM 36.5% 1-Year Est. Return
GAM
Grandview Asset Management Harrisburg, Pennsylvania $403M AUM 38.49% 1-Year Est. Return
WG
Wealth Group Raleigh, North Carolina $401M AUM
PFS
Physicians Financial Services Raleigh, North Carolina $401M AUM 34.09% 1-Year Est. Return
RAM
Redmond Asset Management Henrico, Virginia $401M AUM 14.95% 1-Year Est. Return

Cliffwater's Q3 2019 Portfolio in Review

As of Q3 2019, Cliffwater held 21 positions worth $256M, down 11% from $288M the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Cliffwater withdrew a net $31.5M in Q3 2019, reducing 1 holding. Its largest reduction was CVB Financial, cutting an estimated $81.2M.

By sector, the portfolio is most concentrated in Miscellaneous at 58% of assets, up from 39% a quarter earlier, followed by Financials.

Against the trend, Cliffwater opened a new position in Blue Owl Capital worth $9.54M.

  • Cliffwater's largest Q3 2019 buy was Blue Owl Capital: 605,085 shares worth $9.54M.
  • Cliffwater added most to Vanguard Morningstar Total Stock Market ETF in Q3 2019, an estimated $14.9M increase.
  • Cliffwater's biggest Q3 2019 reduction was CVB Financial, cutting an estimated $81.2M.
  • Cliffwater's ten largest holdings make up 86% of its $256M portfolio in Q3 2019.
  • Cliffwater opened 1 new position and closed 0 in Q3 2019.
  • Cliffwater's portfolio value fell 11% quarter-over-quarter to $256M.

Based on Cliffwater's 13F filing for Q3 2019, filed 13 Nov 2019.