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Cliffwater Portfolio holdings

AUM $402M
1-Year Est. Return 7.57%
This Fund
S&P 500
This Quarter Est. Return
-7.39%
1 Year Est. Return
+7.57%
3 Year Est. Return
+29.41%
5 Year Est. Return
+20.56%
10 Year Est. Return
–
AUM
$296M
AUM Growth
-$13.6M
Cap. Flow
+$11.3M
Cap. Flow %
3.81%
Top 10 Hldgs %
73.24%
Holding
25
New
–
Increased
14
Reduced
5
Closed
–

Top Buys

Rank Stock Value
1
OCSL icon
Oaktree Specialty Lending
OCSL
+$3.05M
2
TSLX icon
Sixth Street Specialty
TSLX
+$2.29M
3
ARCC icon
Ares Capital
ARCC
+$1.37M
4
GBDC icon
Golub Capital BDC
GBDC
+$1.33M
5
BXSL icon
Blackstone Secured Lending
BXSL
+$1.32M

Top Sells

Rank Stock Value
1
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$811K
2
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$444K
3
CVBF icon
CVB Financial
CVBF
+$260K
4
VTHR icon
Vanguard Russell 3000 ETF
VTHR
+$181K
5
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$29.5K

Sector Composition

Rank Sector Weight
1 Financials 51.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VTI icon
1
Vanguard Morningstar Total Stock Market ETF
VTI
$695B
$71.4M 24.12%
397,928
-2,230
-0.6% -$444K
VEA icon
2
Vanguard FTSE Developed Markets ETF
VEA
$239B
$28.4M 9.59%
781,278
-19,895
-2% -$811K
VTHR icon
3
Vanguard Russell 3000 ETF
VTHR
$4.88B
$15.8M 5.33%
98,016
-1,014
-1% -$181K
NMFC icon
4
New Mountain Finance
NMFC
$730M
$15.8M 5.32%
1,366,385
+100,338
+8% +$1.28M
ARCC icon
5
Ares Capital
ARCC
$14.3B
$15.7M 5.31%
930,797
+70,868
+8% +$1.37M
GBDC icon
6
Golub Capital BDC
GBDC
$3.46B
$15M 5.07%
1,212,460
+97,783
+9% +$1.33M
TSLX icon
7
Sixth Street Specialty
TSLX
$1.79B
$14.3M 4.84%
877,648
+122,931
+16% +$2.29M
TCPC icon
8
BlackRock TCP Capital
TCPC
$343M
$14M 4.72%
1,279,269
+74,083
+6% +$963K
BBDC icon
9
Barings BDC
BBDC
$976M
$13.3M 4.49%
1,608,808
+39,492
+3% +$381K
OBDC icon
10
Blue Owl Capital
OBDC
$5.81B
$13.1M 4.43%
1,263,422
+27,071
+2% +$344K
OCSL icon
11
Oaktree Specialty Lending
OCSL
$1.15B
$10.8M 3.64%
599,490
+149,875
+33% +$3.05M
CVBF icon
12
CVB Financial
CVBF
$4.1B
$10.4M 3.53%
412,247
-9,988
-2% -$260K
VCSH icon
13
Vanguard Short-Term Corporate Bond ETF
VCSH
$45B
$8.63M 2.92%
116,204
– –
BXSL icon
14
Blackstone Secured Lending
BXSL
$5.77B
$8.23M 2.78%
361,721
+55,322
+18% +$1.32M
VWO icon
15
Vanguard FTSE Emerging Markets ETF
VWO
$125B
$7.45M 2.52%
204,087
-726
-0.4% -$29.5K
GSBD icon
16
Goldman Sachs BDC
GSBD
$1.11B
$7.32M 2.47%
506,202
+14,459
+3% +$245K
VNQ icon
17
Vanguard Real Estate ETF
VNQ
$39.2B
$5.6M 1.89%
69,800
– –
SLRC icon
18
SLR Investment Corp
SLRC
$706M
$4.99M 1.69%
405,300
+12,718
+3% +$186K
SPY icon
19
State Street SPDR S&P 500 ETF Trust
SPY
$813B
$4.36M 1.47%
12,204
– –
CCAP icon
20
Crescent Capital BDC
CCAP
$413M
$4.18M 1.41%
278,649
+2,850
+1% +$48.1K
SCM icon
21
Stellus Capital Investment Corp
SCM
$248M
$3.02M 1.02%
253,584
+8,224
+3% +$107K
MRCC
22
DELISTED
Monroe Capital Corp
MRCC
$2.49M 0.84%
343,568
+9,459
+3% +$82.8K
EEM icon
23
iShares MSCI Emerging Markets ETF
EEM
$30.5B
$1.41M 0.48%
40,400
– –
IWM icon
24
iShares Russell 2000 ETF
IWM
$82.8B
$285K 0.1%
1,729
– –
IEFA icon
25
iShares Core MSCI EAFE ETF
IEFA
$196B
$55K 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 2022 Portfolio in Review

As of Q3 2022, Cliffwater held 25 positions worth $296M, down 4.4% from $310M the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Cliffwater deployed $11.3M of net new capital in Q3 2022, adding to 14 existing holdings.

By sector, the portfolio is most concentrated in Financials at 52% of assets, up from 50% a quarter earlier.

On the sell side, the largest reduction was Vanguard FTSE Developed Markets ETF, an estimated $811K trimmed.

  • Cliffwater added most to Oaktree Specialty Lending in Q3 2022, an estimated $3.05M increase.
  • Cliffwater's biggest Q3 2022 reduction was Vanguard FTSE Developed Markets ETF, cutting an estimated $811K.
  • Cliffwater's ten largest holdings make up 73% of its $296M portfolio in Q3 2022.
  • Cliffwater opened 0 new positions and closed 0 in Q3 2022.
  • Cliffwater's portfolio value fell 4.4% quarter-over-quarter to $296M.

Based on Cliffwater's 13F filing for Q3 2022, filed 10 Nov 2022.