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Cliffwater Portfolio holdings

AUM $377M
1-Year Est. Return 5.73%
This Fund
S&P 500
This Quarter Est. Return
-3.36%
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
-$3.63M
Cap. Flow
+$10M
Cap. Flow %
2.63%
Top 10 Hldgs %
78.82%
Holding
25
New
–
Increased
14
Reduced
5
Closed
–

Top Buys

Rank Stock Value
1
VTHR icon
Vanguard Russell 3000 ETF
VTHR
+$5.07M
2
NMFC icon
New Mountain Finance
NMFC
+$1.75M
3
BXSL icon
Blackstone Secured Lending
BXSL
+$1.66M
4
OCSL icon
Oaktree Specialty Lending
OCSL
+$1.62M
5
TSLX icon
Sixth Street Specialty
TSLX
+$1.46M

Top Sells

Rank Stock Value
1
VTI icon
Vanguard Total Stock Market ETF
VTI
+$3.11M
2
CVBF icon
CVB Financial
CVBF
+$1.63M
3
VCSH icon
Vanguard Short-Term Corporate Bond ETF
VCSH
+$1.59M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$1.07M
5
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$48.9K

Sector Composition

Rank Sector Weight
1 Financials 42.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VTI icon
1
Vanguard Total Stock Market ETF
VTI
$658B
$92.1M 24.16%
404,626
-13,843
-3% -$3.11M
VEA icon
2
Vanguard FTSE Developed Markets ETF
VEA
$226B
$74.2M 19.47%
1,545,497
-21,970
-1% -$1.07M
VTHR icon
3
Vanguard Russell 3000 ETF
VTHR
$4.66B
$20M 5.24%
98,016
+25,215
+35% +$5.07M
OBDC icon
4
Blue Owl Capital
OBDC
$5.45B
$17.3M 4.53%
1,168,273
+77,339
+7% +$1.13M
NMFC icon
5
New Mountain Finance
NMFC
$672M
$16.7M 4.38%
1,204,821
+129,653
+12% +$1.75M
TSLX icon
6
Sixth Street Specialty
TSLX
$1.66B
$16.5M 4.33%
708,492
+62,146
+10% +$1.46M
TCPC icon
7
BlackRock TCP Capital
TCPC
$278M
$16.5M 4.32%
1,151,344
+73,460
+7% +$1.01M
ARCC icon
8
Ares Capital
ARCC
$13.8B
$16.4M 4.3%
782,241
+13,049
+2% +$278K
GBDC icon
9
Golub Capital BDC
GBDC
$3.4B
$16.2M 4.26%
1,066,709
+80,052
+8% +$1.24M
BBDC icon
10
Barings BDC
BBDC
$890M
$14.6M 3.83%
1,413,893
+103,274
+8% +$1.11M
VWO icon
11
Vanguard FTSE Emerging Markets ETF
VWO
$119B
$9.46M 2.48%
205,055
-1,016
-0.5% -$48.9K
VCSH icon
12
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.8B
$9.07M 2.38%
116,204
-19,948
-15% -$1.59M
OCSL icon
13
Oaktree Specialty Lending
OCSL
$1.07B
$8.99M 2.36%
406,649
+72,216
+22% +$1.62M
GSBD icon
14
Goldman Sachs BDC
GSBD
$994M
$8.95M 2.35%
456,219
+44,933
+11% +$888K
VNQ icon
15
Vanguard Real Estate ETF
VNQ
$39.6B
$7.56M 1.98%
69,800
– –
SLRC icon
16
SLR Investment Corp
SLRC
$716M
$6.62M 1.74%
365,228
+6,684
+2% +$122K
BXSL icon
17
Blackstone Secured Lending
BXSL
$5.54B
$6.46M 1.69%
231,596
+56,827
+33% +$1.66M
SPY icon
18
State Street SPDR S&P 500 ETF Trust
SPY
$774B
$5.51M 1.45%
12,204
– –
CVBF icon
19
CVB Financial
CVBF
$4.03B
$5.13M 1.34%
220,879
-70,293
-24% -$1.63M
CCAP icon
20
Crescent Capital BDC
CCAP
$407M
$4.16M 1.09%
233,608
– –
MRCC
21
DELISTED
Monroe Capital Corp
MRCC
$3.53M 0.93%
327,316
+5,387
+2% +$58.6K
SCM icon
22
Stellus Capital Investment Corp
SCM
$220M
$3.05M 0.8%
219,388
+5,036
+2% +$68.7K
EEM icon
23
iShares MSCI Emerging Markets ETF
EEM
$28B
$1.82M 0.48%
40,400
– –
IWM icon
24
iShares Russell 2000 ETF
IWM
$82.2B
$355K 0.09%
1,729
– –
IEFA icon
25
iShares Core MSCI EAFE ETF
IEFA
$186B
$72K 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 Q1 2022 Portfolio in Review

As of Q1 2022, Cliffwater held 25 positions worth $381M, down 0.94% from $385M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Trading was light in Q1 2022: portfolio turnover was 0%. Cliffwater opened no new positions and made no exits, leaving the 25-position portfolio largely intact.

By sector, the portfolio is most concentrated in Financials at 42% of assets, up from 39% a quarter earlier.

  • Cliffwater added most to Vanguard Russell 3000 ETF in Q1 2022, an estimated $5.07M increase.
  • Cliffwater's biggest Q1 2022 reduction was Vanguard Total Stock Market ETF, cutting an estimated $3.11M.
  • Cliffwater's ten largest holdings make up 79% of its $381M portfolio in Q1 2022.
  • Cliffwater opened 0 new positions and closed 0 in Q1 2022.
  • Cliffwater's portfolio value fell 0.94% quarter-over-quarter to $381M.

Based on Cliffwater's 13F filing for Q1 2022, filed 13 May 2022.