Skip to content
Disclosery

Cliffwater LLC

Follow

13F filer, CIK 1659851, MARINA DEL REY, CA

Cliffwater LLC reported $382,539,035 across 23 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 95.83% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-25-048072

Period
2025-03-31
Reported value
$383M
Holdings
23
Top 10 weight
95.83%
New
4
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TEMnew+13,824$667K
TECXnew+15,369$272K
RBRKnew+3,184$194K
BBDCadded+7,146$68.2K
OSCRnew+4,431$58.1K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MSDLreduced-1,203,819-$24M
VTIreduced-277-$76.1K
VCSHreduced-762-$60.2K
VEAreduced-384-$19.5K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001104659-25-048072, largest first. % of portfolio is the value over $382,539,035, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VTIVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 351,962 shares; 2024Q4: 350,796 shares; 2025Q1: 350,519 shares 350,519$96.3M25.18%-277Timeline
VTHRVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,672 shares; 2024Q4: 262,086 shares; 2025Q1: 262,086 shares 262,086$64.7M16.91%0Timeline
ACWXISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,405,445 shares; 2024Q4: 1,098,677 shares; 2025Q1: 1,098,677 shares 1,098,677$60.9M15.93%0Timeline
VGITVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 767,859 shares; 2024Q4: 767,859 shares; 2025Q1: 767,859 shares 767,859$45.6M11.92%0Timeline
VEAVANGUARD TAX-MANAGED FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 775,030 shares; 2024Q4: 774,022 shares; 2025Q1: 773,638 shares 773,638$39.3M10.28%-384Timeline
FBRTFRANKLIN BSP RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,196,171 shares; 2024Q4: 2,196,171 shares; 2025Q1: 2,196,171 shares 2,196,171$28M7.31%0Timeline
VWOVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 210,943 shares; 2024Q4: 209,303 shares; 2025Q1: 209,303 shares 209,303$9.47M2.48%0Timeline
VCSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,955 shares; 2024Q4: 100,189 shares; 2025Q1: 99,427 shares 99,427$7.85M2.05%-762Timeline
CVBFCVB FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 412,247 shares; 2024Q4: 412,247 shares; 2025Q1: 412,247 shares 412,247$7.61M1.99%0Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,204 shares; 2024Q4: 12,204 shares; 2025Q1: 12,204 shares 12,204$6.83M1.78%0Timeline
VNQVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,923 shares; 2024Q4: 69,923 shares; 2025Q1: 69,923 shares 69,923$6.33M1.65%0Timeline
MSDLMORGAN STANLEY DIRECT LENDINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,124,028 shares; 2024Q4: 1,446,014 shares; 2025Q1: 242,195 shares 242,195$4.83M1.26%-1,203,819Timeline
EEMISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 40,400 shares; 2024Q4: 40,400 shares; 2025Q1: 40,400 shares 40,400$1.77M0.46%0Timeline
BBDCBARINGS BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 119,607 shares; 2024Q4: 119,607 shares; 2025Q1: 126,753 shares 126,753$1.21M0.32%+7,146Timeline
TEMTEMPUS AI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 13,824 shares 13,824$667K0.17%newTimeline
TECXTECTONIC THERAPEUTIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 15,369 shares 15,369$272K0.07%newTimeline
IWMISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,213 shares; 2024Q4: 1,213 shares; 2025Q1: 1,213 shares 1,213$242K0.06%0Timeline
RBRKRUBRIK INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,184 shares 3,184$194K0.05%newTimeline
BKLNINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,902 shares; 2024Q4: 5,902 shares; 2025Q1: 5,902 shares 5,902$122K0.03%0Timeline
TOSTTOAST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,197 shares; 2025Q1: 3,197 shares 3,197$106K0.03%0Timeline
IEFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,036 shares; 2024Q4: 1,036 shares; 2025Q1: 1,036 shares 1,036$78.4K0.02%0Timeline
OSCROSCAR HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,431 shares 4,431$58.1K0.02%newTimeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,472 shares; 2025Q1: 5,472 shares 5,472$56K0.01%0Timeline

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001104659-25-048072 base2025-05-14acceptance time not in the bulk data set