C

Cliffwater Portfolio holdings

AUM $402M Turnover 9.09%
1-Year Est. Return 7.57%
This Fund
S&P 500
This Quarter Est. Return
+7.11%
1 Year Est. Return
+7.57%
3 Year Est. Return
+29.41%
5 Year Est. Return
+20.56%
10 Year Est. Return
–
AUM
$420M
AUM Growth
-$43.5M
Cap. Flow
-$74.1M
Cap. Flow %
-17.65%
Top 10 Hldgs %
79.82%
Holding
24
New
–
Increased
10
Reduced
13
Closed
–
Avg Time Held
2.7 years
Top 10 Avg Time Held
2.6 years
Top 20 Avg Time Held
2.7 years

Top Buys

Rank Stock Value
1
BBDC icon
Barings BDC
BBDC
+$3.9M
2
NMFC icon
New Mountain Finance
NMFC
+$1.55M
3
CCAP icon
Crescent Capital BDC
CCAP
+$1.44M
4
OBDC icon
Blue Owl Capital
OBDC
+$1.42M
5
OCSL icon
Oaktree Specialty Lending
OCSL
+$1.05M

Top Sells

Rank Stock Value
1
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$76.2M
2
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$4.14M
3
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$1.05M
4
ARCC icon
Ares Capital
ARCC
+$1.05M
5
TSLX icon
Sixth Street Specialty
TSLX
+$1.01M

Sector Composition

Rank Sector Weight
1 Miscellaneous 55.38%
2 Financials 44.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
VEA icon
1
Vanguard FTSE Developed Markets ETF
VEA
$227B
$90.3M 21.52%
1,839,620
-21,534
-1% -$1.05M
2017 Q4
13 quarters
VTI icon
2
Vanguard Morningstar Total Stock Market ETF
VTI
$694B
$84.3M 20.09%
408,075
-376,708
-48% -$76.2M
2017 Q4
13 quarters
NMFC icon
3
New Mountain Finance
NMFC
$624M
$22.4M 5.33%
1,805,195
+127,321
+8% +$1.55M
2017 Q4
13 quarters
TCPC icon
4
BlackRock TCP Capital
TCPC
$342M
$21.9M 5.21%
1,581,293
-18,538
-1% -$235K
2017 Q4
13 quarters
ARCC icon
5
Ares Capital
ARCC
$13.3B
$20.9M 4.99%
1,118,612
-58,501
-5% -$1.05M
2017 Q4
13 quarters
GBDC icon
6
Golub Capital BDC
GBDC
$3.13B
$20.5M 4.89%
1,404,966
-18,398
-1% -$270K
2017 Q4
13 quarters
OBDC icon
7
Blue Owl Capital
OBDC
$4.98B
$20.2M 4.81%
1,467,754
+103,982
+8% +$1.42M
2019 Q3
6 quarters
TSLX icon
8
Sixth Street Specialty
TSLX
$1.64B
$19.5M 4.66%
929,516
-46,895
-5% -$1.01M
2017 Q4
13 quarters
VTHR icon
9
Vanguard Russell 3000 ETF
VTHR
$4.91B
$19M 4.52%
97,718
-4,574
-4% -$826K
2020 Q3
2 quarters
VCSH icon
10
Vanguard Short-Term Corporate Bond ETF
VCSH
$43.9B
$16M 3.8%
193,294
-281
-0.1% -$23.3K
2017 Q4
13 quarters
BBDC icon
11
Barings BDC
BBDC
$886M
$12.8M 3.04%
1,279,964
+409,991
+47% +$3.9M
2019 Q2
7 quarters
VWO icon
12
Vanguard FTSE Emerging Markets ETF
VWO
$124B
$11.2M 2.68%
211,990
-77,766
-27% -$4.14M
2017 Q4
13 quarters
GSBD icon
13
Goldman Sachs BDC
GSBD
$973M
$9.08M 2.16%
469,718
+49,062
+12% +$919K
2017 Q4
13 quarters
OCSL icon
14
Oaktree Specialty Lending
OCSL
$1.01B
$8.08M 1.92%
434,286
+58,525
+16% +$1.05M
2019 Q2
7 quarters
SLRC icon
15
SLR Investment Corp
SLRC
$616M
$7.93M 1.89%
446,281
+32,001
+8% +$587K
2017 Q4
13 quarters
CCAP icon
16
Crescent Capital BDC
CCAP
$330M
$7.36M 1.75%
428,549
+88,089
+26% +$1.44M
2020 Q1
4 quarters
MRCC icon
17
DELISTED
Monroe Capital Corp
MRCC
$6.75M 1.61%
672,574
+40,248
+6% +$370K
2017 Q4
13 quarters
CVBF icon
18
CVB Financial
CVBF
$3.76B
$6.43M 1.53%
303,253
+12,081
+4% +$263K
2018 Q3
10 quarters
VNQ icon
19
Vanguard Real Estate ETF
VNQ
$36.2B
$5.44M 1.3%
59,224
-5,765
-9% -$507K
2017 Q4
13 quarters
SPY icon
20
State Street SPDR S&P 500 ETF Trust
SPY
$813B
$4.84M 1.15%
12,204
-652
-5% -$251K
2017 Q4
13 quarters
SCM icon
21
Stellus Capital Investment Corp
SCM
$201M
$3.43M 0.82%
257,380
+17,205
+7% +$197K
2020 Q2
3 quarters
EEM icon
22
iShares MSCI Emerging Markets ETF
EEM
$29.8B
$939K 0.22%
17,606
-3,575
-17% -$196K
2017 Q4
13 quarters
IWM icon
23
iShares Russell 2000 ETF
IWM
$76.4B
$382K 0.09%
1,729
– –
2017 Q4
13 quarters
IEFA icon
24
iShares Core MSCI EAFE ETF
IEFA
$189B
$75K 0.02%
1,004
-32
-3% -$2.29K
2017 Q4
13 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 Q1 2021 Portfolio in Review

As of Q1 2021, Cliffwater held 24 positions worth $420M, down 9.4% from $463M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Cliffwater withdrew a net $74.1M in Q1 2021, reducing 13 holdings. Its largest reduction was Vanguard Morningstar Total Stock Market ETF, cutting an estimated $76.2M.

By sector, the portfolio is most concentrated in Miscellaneous at 55% of assets, down from 65% a quarter earlier, followed by Financials.

Against the trend, Cliffwater added an estimated $3.9M to Barings BDC.

  • Cliffwater added most to Barings BDC in Q1 2021, an estimated $3.9M increase.
  • Cliffwater's biggest Q1 2021 reduction was Vanguard Morningstar Total Stock Market ETF, cutting an estimated $76.2M.
  • Cliffwater's ten largest holdings make up 80% of its $420M portfolio in Q1 2021.
  • Cliffwater opened 0 new positions and closed 0 in Q1 2021.
  • Cliffwater's portfolio value fell 9.4% quarter-over-quarter to $420M.

Based on Cliffwater's 13F filing for Q1 2021, filed 14 May 2021.