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Cliffwater Portfolio holdings

AUM $377M
1-Year Est. Return 5.73%
This Fund
S&P 500
This Quarter Est. Return
-0.45%
1 Year Est. Return
+5.73%
3 Year Est. Return
+28.54%
5 Year Est. Return
+19.31%
10 Year Est. Return
–
AUM
$381M
AUM Growth
+$1.51M
Cap. Flow
+$3.96M
Cap. Flow %
1.04%
Top 10 Hldgs %
78.87%
Holding
24
New
–
Increased
16
Reduced
4
Closed
–

Top Buys

Rank Stock Value
1
VTI icon
Vanguard Total Stock Market ETF
VTI
+$2.88M
2
VNQ icon
Vanguard Real Estate ETF
VNQ
+$561K
3
OBDC icon
Blue Owl Capital
OBDC
+$540K
4
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$421K
5
TSLX icon
Sixth Street Specialty
TSLX
+$284K

Top Sells

Rank Stock Value
1
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$1.17M
2
VCSH icon
Vanguard Short-Term Corporate Bond ETF
VCSH
+$1.09M
3
CCAP icon
Crescent Capital BDC
CCAP
+$111K
4
TCPC icon
BlackRock TCP Capital
TCPC
+$43.1K

Sector Composition

Rank Sector Weight
1 Financials 38.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VTI icon
1
Vanguard Total Stock Market ETF
VTI
$658B
$95.9M 25.18%
432,055
+12,632
+3% +$2.88M
VEA icon
2
Vanguard FTSE Developed Markets ETF
VEA
$226B
$80.6M 21.14%
1,595,538
-22,550
-1% -$1.17M
VTHR icon
3
Vanguard Russell 3000 ETF
VTHR
$4.66B
$18.1M 4.75%
91,355
+1,232
+1% +$251K
NMFC icon
4
New Mountain Finance
NMFC
$672M
$15.9M 4.17%
1,195,283
+15,930
+1% +$213K
ARCC icon
5
Ares Capital
ARCC
$13.8B
$15.9M 4.16%
779,722
+10,397
+1% +$208K
TSLX icon
6
Sixth Street Specialty
TSLX
$1.66B
$15.6M 4.08%
700,499
+12,383
+2% +$284K
GBDC icon
7
Golub Capital BDC
GBDC
$3.4B
$15.5M 4.08%
982,466
+16,774
+2% +$264K
OBDC icon
8
Blue Owl Capital
OBDC
$5.45B
$15.4M 4.04%
1,090,634
+37,250
+4% +$540K
TCPC icon
9
BlackRock TCP Capital
TCPC
$278M
$14.6M 3.83%
1,074,773
-3,074
-0.3% -$43.1K
VCSH icon
10
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.8B
$13.1M 3.44%
159,006
-13,201
-8% -$1.09M
BBDC icon
11
Barings BDC
BBDC
$890M
$12.5M 3.28%
1,132,487
+18,250
+2% +$197K
VWO icon
12
Vanguard FTSE Emerging Markets ETF
VWO
$119B
$10.6M 2.79%
212,459
+2,746
+1% +$142K
CVBF icon
13
CVB Financial
CVBF
$4.03B
$10M 2.63%
492,540
– –
VNQ icon
14
Vanguard Real Estate ETF
VNQ
$39.6B
$7.11M 1.86%
69,807
+5,291
+8% +$561K
OCSL icon
15
Oaktree Specialty Lending
OCSL
$1.07B
$6.76M 1.77%
319,303
+1,893
+0.6% +$40K
SLRC icon
16
SLR Investment Corp
SLRC
$716M
$6.59M 1.73%
344,276
+3,351
+1% +$63.9K
GSBD icon
17
Goldman Sachs BDC
GSBD
$994M
$6.2M 1.63%
337,980
+4,844
+1% +$92.7K
MRCC
18
DELISTED
Monroe Capital Corp
MRCC
$5.49M 1.44%
528,509
+6,147
+1% +$66.4K
SPY icon
19
State Street SPDR S&P 500 ETF Trust
SPY
$774B
$5.24M 1.37%
12,204
– –
CCAP icon
20
Crescent Capital BDC
CCAP
$407M
$4.31M 1.13%
225,077
-5,883
-3% -$111K
SCM icon
21
Stellus Capital Investment Corp
SCM
$220M
$3.22M 0.84%
246,487
+11,542
+5% +$151K
EEM icon
22
iShares MSCI Emerging Markets ETF
EEM
$28B
$2.04M 0.53%
40,400
+8,089
+25% +$421K
IWM icon
23
iShares Russell 2000 ETF
IWM
$82.2B
$378K 0.1%
1,729
– –
IEFA icon
24
iShares Core MSCI EAFE ETF
IEFA
$186B
$77K 0.02%
1,036
– –

Similar funds

FP
Fivespan Partners San Francisco, California $377M AUM
WAM
Wakefield Asset Management Englewood, Colorado $377M AUM 38.72% 1-Year Est. Return
EFP
EnRich Financial Partners Madison, Wisconsin $377M AUM 17.29% 1-Year Est. Return
DAL
Delta Air Lines Atlanta, Georgia $378M AUM 12.68% 1-Year Est. Return
AFCM
Alta Fox Capital Management Fort Worth, Texas $378M AUM 59.19% 1-Year Est. Return
ACA
Anchorage Capital Advisors New York $378M AUM 13.47% 1-Year Est. Return
GVCM
Global View Capital Management Waukesha, Wisconsin $377M AUM 31.41% 1-Year Est. Return
IFS
Ifrah Financial Services Little Rock, Arkansas $378M AUM 17.57% 1-Year Est. Return

Cliffwater's Q3 2021 Portfolio in Review

As of Q3 2021, Cliffwater held 24 positions worth $381M, up 0.4% from $380M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Trading was light in Q3 2021: portfolio turnover was 0%. Cliffwater opened no new positions and made no exits, leaving the 24-position portfolio largely intact.

By sector, the portfolio is most concentrated in Financials at 39% of assets, up from 38% a quarter earlier.

  • Cliffwater added most to Vanguard Total Stock Market ETF in Q3 2021, an estimated $2.88M increase.
  • Cliffwater's biggest Q3 2021 reduction was Vanguard FTSE Developed Markets ETF, cutting an estimated $1.17M.
  • Cliffwater's ten largest holdings make up 79% of its $381M portfolio in Q3 2021.
  • Cliffwater opened 0 new positions and closed 0 in Q3 2021.
  • Cliffwater's portfolio value rose 0.4% quarter-over-quarter to $381M.

Based on Cliffwater's 13F filing for Q3 2021, filed 15 Nov 2021.