— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

Cliffwater LLC

Q2 2025 · Filed 2025-08-13
Market Value
$486M
+27.1%
Holdings
27
+4
New Purchases
4
Added To
1
Closed
3
Reduced
8
Top 10 Concentration
94.6%
Turnover
25.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
OTF 20.94% 0.00% +20.94% $102M
CGBD 1.54% 0.00% +1.54% $8M
CVNA 0.13% 0.00% +0.13% $628K
PAY 0.03% 0.00% +0.03% $124K
TOST 0.04% 0.03% +0.01% $198K
RBRK 0.06% 0.05% +0.01% $285K
OSCR 0.02% 0.02% +0.00% $95K
NU 0.02% 0.01% +0.00% $75K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
FBRT 2.25% 7.31% -5.07% $11M
VTHR 13.23% 16.91% -3.67% $64M
VTI 21.89% 25.18% -3.30% $106M
VGIT 8.73% 11.92% -3.19% $42M
ACWX 13.14% 15.93% -2.79% $64M
MSDL 0.00% 1.26% -1.26% $0
VEA 9.04% 10.28% -1.24% $44M
VCSH 1.58% 2.05% -0.47% $8M
VNQ 1.28% 1.65% -0.37% $6M
VWO 2.12% 2.48% -0.35% $10M
CVBF 1.68% 1.99% -0.31% $8M
SPY 1.55% 1.78% -0.23% $8M
TEM 0.00% 0.17% -0.17% $0
BBDC 0.24% 0.32% -0.08% $1M
TECX 0.00% 0.07% -0.07% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 3 $158M 32.5%
Large Cap 12 $134M 27.6%
Mid Cap 7 $175M 35.9%
Small Cap 5 $20M 4.0%

Portfolio Analytics

Avg Market Cap
$93.9B
Median Market Cap
$13.4B
Avg P/E
19.7
Median P/E
14.7
Avg Dividend Yield
0.05%
Avg Beta
1.12
# Stocks
14
# ETFs / Funds
13

Top Holdings (27 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VTI 21.89% 350,195 $106M $303.93 $10M -324 -0.1%
2 OTF 20.94% 6,678,147 $102M $15.25 +6,678,147 NEW
3 VTHR 13.23% 235,936 $64M $272.75 -$321K -26,150 -10.0%
4 ACWX 13.14% 1,048,621 $64M $60.94 $3M -50,056 -4.6%
5 VEA 9.04% 771,122 $44M $57.01 $5M -2,516 -0.3%
6 VGIT 8.73% 710,087 $42M $59.81 -$3M -57,772 -7.5%
7 FBRT 2.25% 1,022,788 $11M $10.69 -$17M -1,173,383 -53.4%
8 VWO 2.12% 208,613 $10M $49.46 $845K -690 -0.3%
9 CVBF 1.68% 412,247 $8M $19.79 $548K
10 VCSH 1.58% 96,812 $8M $79.50 -$152K -2,615 -2.6%
11 SPY 1.55% 12,204 $8M $617.85 $713K
12 CGBD 1.54% 548,617 $8M $13.68 +548,617 NEW
13 VNQ 1.28% 69,923 $6M $89.06 -$103K
14 EEM 0.40% 40,400 $2M $48.24 $183K
15 BBDC 0.24% 126,753 $1M $9.14 -$51K
16 CVNA 0.13% 1,865 $628K $336.96 +1,865 NEW
17 RBRK 0.06% 3,184 $285K $89.59 $91K
18 IWM 0.05% 1,213 $262K $215.79 $20K
19 TOST 0.04% 4,476 $198K $44.29 $92K +1,279 +40.0%
20 PAY 0.03% 3,789 $124K $32.75 +3,789 NEW
21 BKLN 0.03% 5,902 $123K $20.92 $1K
22 OSCR 0.02% 4,431 $95K $21.44 $37K
23 IEFA 0.02% 1,036 $86K $83.48 $8K
24 NU 0.02% 5,472 $75K $13.72 $19K
25 MSDL —% -$5M -242,195 -100.0% SOLD
26 TEM —% -$667K -13,824 -100.0% SOLD
27 TECX —% -$272K -15,369 -100.0% SOLD

New Positions

SymbolValue% Port
OTF $102M 20.94%
CGBD $8M 1.54%
CVNA $628K 0.13%
PAY $124K 0.03%

Sold Out Positions

SymbolValue% Port
MSDL —%
TEM —%
TECX —%
View SEC EDGAR Filings for Cliffwater LLC →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms