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Cliffwater Portfolio holdings

AUM $402M
1-Year Est. Return 7.57%
This Fund
S&P 500
This Quarter Est. Return
+4.96%
1 Year Est. Return
+7.57%
3 Year Est. Return
+29.41%
5 Year Est. Return
+20.56%
10 Year Est. Return
–
AUM
$335M
AUM Growth
+$41.6M
Cap. Flow
+$27.6M
Cap. Flow %
8.21%
Top 10 Hldgs %
82.01%
Holding
24
New
1
Increased
13
Reduced
4
Closed
–

Top Buys

Rank Stock Value
1
VTHR icon
Vanguard Russell 3000 ETF
VTHR
+$15.3M
2
TSLX icon
Sixth Street Specialty
TSLX
+$4.23M
3
ARCC icon
Ares Capital
ARCC
+$4M
4
NMFC icon
New Mountain Finance
NMFC
+$2.85M
5
OBDC icon
Blue Owl Capital
OBDC
+$1.87M

Top Sells

Rank Stock Value
1
GBDC icon
Golub Capital BDC
GBDC
+$4.3M
2
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$359K
3
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$101K
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$11.6K

Sector Composition

Rank Sector Weight
1 Financials 39.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VEA icon
1
Vanguard FTSE Developed Markets ETF
VEA
$239B
$76M 22.65%
1,857,768
-8,761
-0.5% -$359K
VTI icon
2
Vanguard Morningstar Total Stock Market ETF
VTI
$695B
$72.4M 21.57%
424,876
-603
-0.1% -$101K
VCSH icon
3
Vanguard Short-Term Corporate Bond ETF
VCSH
$45B
$17.2M 5.14%
208,162
– –
ARCC icon
4
Ares Capital
ARCC
$14.3B
$17.2M 5.13%
1,234,255
+281,046
+29% +$4M
GBDC icon
5
Golub Capital BDC
GBDC
$3.46B
$17.1M 5.11%
1,295,323
-344,554
-21% -$4.3M
TSLX icon
6
Sixth Street Specialty
TSLX
$1.79B
$16.9M 5.04%
983,323
+246,881
+34% +$4.23M
NMFC icon
7
New Mountain Finance
NMFC
$730M
$15.9M 4.75%
1,666,326
+295,269
+22% +$2.85M
VTHR icon
8
Vanguard Russell 3000 ETF
VTHR
$4.88B
$15.5M 4.61%
+101,572
New +$15.3M
OBDC icon
9
Blue Owl Capital
OBDC
$5.81B
$13.9M 4.14%
1,150,312
+152,294
+15% +$1.87M
TCPC icon
10
BlackRock TCP Capital
TCPC
$343M
$13M 3.87%
1,324,822
+10,211
+0.8% +$99K
VWO icon
11
Vanguard FTSE Emerging Markets ETF
VWO
$125B
$9.62M 2.87%
222,506
-267
-0.1% -$11.6K
SLRC icon
12
SLR Investment Corp
SLRC
$706M
$7.26M 2.16%
458,055
+64,155
+16% +$1.05M
BBDC icon
13
Barings BDC
BBDC
$976M
$6.21M 1.85%
775,644
+139,632
+22% +$1.11M
VNQ icon
14
Vanguard Real Estate ETF
VNQ
$39.2B
$5.47M 1.63%
69,336
+928
+1% +$74.5K
SPY icon
15
State Street SPDR S&P 500 ETF Trust
SPY
$813B
$4.99M 1.49%
14,911
– –
GSBD icon
16
Goldman Sachs BDC
GSBD
$1.11B
$4.88M 1.45%
324,443
+5,107
+2% +$79.9K
OCSL icon
17
Oaktree Specialty Lending
OCSL
$1.15B
$4.85M 1.45%
334,242
+16,956
+5% +$242K
CVBF icon
18
CVB Financial
CVBF
$4.1B
$4.84M 1.44%
291,172
– –
CCAP icon
19
Crescent Capital BDC
CCAP
$413M
$4.78M 1.43%
375,248
+12,960
+4% +$162K
MRCC
20
DELISTED
Monroe Capital Corp
MRCC
$4.63M 1.38%
676,393
+95,613
+16% +$654K
SCM icon
21
Stellus Capital Investment Corp
SCM
$248M
$1.23M 0.37%
140,750
+80,183
+132% +$653K
EEM icon
22
iShares MSCI Emerging Markets ETF
EEM
$30.5B
$934K 0.28%
21,181
– –
IWM icon
23
iShares Russell 2000 ETF
IWM
$82.8B
$592K 0.18%
3,955
– –
IEFA icon
24
iShares Core MSCI EAFE ETF
IEFA
$196B
$62K 0.02%
1,036
– –

Similar funds

BLC
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NFG
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EPAM
Evelyn Partners Asset Management London $406M AUM 19.36% 1-Year Est. Return
GIPM
G2 Investment Partners Management New York $406M AUM 164.47% 1-Year Est. Return
PCP
Perbak Capital Partners London, United Kingdom $406M AUM 17.25% 1-Year Est. Return
EH
EMG Holdings Old Greenwich, Connecticut $397M AUM 9.97% 1-Year Est. Return
IVLAV
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LPC
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Cliffwater's Q3 2020 Portfolio in Review

As of Q3 2020, Cliffwater held 24 positions worth $335M, up 14% from $294M the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Cliffwater deployed $27.6M of net new capital in Q3 2020, opening 1 new position and adding to 13 existing holdings. Its largest new stake was Vanguard Russell 3000 ETF: 101,572 shares worth $15.5M.

By sector, the portfolio is most concentrated in Financials at 40% of assets, down from 40% a quarter earlier.

On the sell side, the largest reduction was Golub Capital BDC, an estimated $4.3M trimmed.

  • Cliffwater's largest Q3 2020 buy was Vanguard Russell 3000 ETF: 101,572 shares worth $15.5M.
  • Cliffwater added most to Sixth Street Specialty in Q3 2020, an estimated $4.23M increase.
  • Cliffwater's biggest Q3 2020 reduction was Golub Capital BDC, cutting an estimated $4.3M.
  • Cliffwater's ten largest holdings make up 82% of its $335M portfolio in Q3 2020.
  • Cliffwater opened 1 new position and closed 0 in Q3 2020.
  • Cliffwater's portfolio value rose 14% quarter-over-quarter to $335M.

Based on Cliffwater's 13F filing for Q3 2020, filed 13 Nov 2020.