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Cliffwater LLC

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

Cliffwater LLC reported $401,664,141 across 22 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-12. Its ten largest share positions make up 96.3% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-26-094702

Period
2026-06-30
Reported value
$402M
Holdings
22
Top 10 weight
96.3%
New
2
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VGITadded+428,497$25.3M
FRBTnew+280,309$5.13M
XERSnew+263,158$2.08M
CVNAadded+7,460$491K

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
VTHRreduced-76,188-$25.3M
VTIreduced-14,527-$5.38M
VEAreduced-1,300-$92.6K

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, Q2 2026

Share positions as resolved from 13F-HR 0001104659-26-094702, largest first. % of portfolio is the value over $401,664,141, 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; 2024Q3: 351,962 shares; 2024Q4: 350,796 shares; 2025Q1: 350,519 shares; 2025Q2: 350,195 shares; 2025Q3: 348,104 shares; 2025Q4: 344,018 shares; 2026Q1: 321,612 shares; 2026Q2: 307,085 shares 307,085$114M28.29%-14,527Timeline
VGITVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 767,859 shares; 2024Q4: 767,859 shares; 2025Q1: 767,859 shares; 2025Q2: 710,087 shares; 2025Q3: 772,030 shares; 2025Q4: 772,030 shares; 2026Q1: 772,030 shares; 2026Q2: 1,200,527 shares 1,200,527$70.8M17.63%+428,497Timeline
OTFBLUE OWL TECHNOLOGY FIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,678,147 shares; 2025Q3: 5,923,955 shares; 2025Q4: 5,908,955 shares; 2026Q1: 5,908,955 shares; 2026Q2: 5,908,955 shares 5,908,955$61.2M15.23%0Timeline
VEAVANGUARD TAX-MANAGED FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 775,030 shares; 2024Q4: 774,022 shares; 2025Q1: 773,638 shares; 2025Q2: 771,122 shares; 2025Q3: 770,181 shares; 2025Q4: 770,181 shares; 2026Q1: 770,181 shares; 2026Q2: 768,881 shares 768,881$54.8M13.64%-1,300Timeline
VTHRVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 200,672 shares; 2024Q4: 262,086 shares; 2025Q1: 262,086 shares; 2025Q2: 235,936 shares; 2025Q3: 235,936 shares; 2025Q4: 205,503 shares; 2026Q1: 205,503 shares; 2026Q2: 129,315 shares 129,315$42.9M10.67%-76,188Timeline
VWOVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 210,943 shares; 2024Q4: 209,303 shares; 2025Q1: 209,303 shares; 2025Q2: 208,613 shares; 2025Q3: 208,320 shares; 2025Q4: 208,320 shares; 2026Q1: 208,320 shares; 2026Q2: 208,320 shares 208,320$12.4M3.1%0Timeline
CVBFCVB FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 412,247 shares; 2024Q4: 412,247 shares; 2025Q1: 412,247 shares; 2025Q2: 412,247 shares; 2025Q3: 412,247 shares; 2025Q4: 412,247 shares; 2026Q1: 412,247 shares; 2026Q2: 412,247 shares 412,247$9.3M2.31%0Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 12,204 shares; 2024Q4: 12,204 shares; 2025Q1: 12,204 shares; 2025Q2: 12,204 shares; 2025Q3: 12,204 shares; 2025Q4: 12,204 shares; 2026Q1: 10,752 shares; 2026Q2: 10,752 shares 10,752$8.03M2%0Timeline
VCSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 100,955 shares; 2024Q4: 100,189 shares; 2025Q1: 99,427 shares; 2025Q2: 96,812 shares; 2025Q3: 90,207 shares; 2025Q4: 90,207 shares; 2026Q1: 89,515 shares; 2026Q2: 89,515 shares 89,515$7.07M1.76%0Timeline
VNQVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 69,923 shares; 2024Q4: 69,923 shares; 2025Q1: 69,923 shares; 2025Q2: 69,923 shares; 2025Q3: 69,923 shares; 2025Q4: 69,923 shares; 2026Q1: 69,923 shares; 2026Q2: 69,923 shares 69,923$6.74M1.68%0Timeline
FRBTFORBRIGHT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 280,309 shares 280,309$5.13M1.28%newTimeline
EEMISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 40,400 shares; 2024Q4: 40,400 shares; 2025Q1: 40,400 shares; 2025Q2: 40,400 shares; 2025Q3: 40,400 shares; 2025Q4: 40,400 shares; 2026Q1: 40,400 shares; 2026Q2: 40,400 shares 40,400$2.76M0.69%0Timeline
CGBDCARLYLE SECURED LENDING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 548,617 shares; 2025Q3: 207,319 shares; 2025Q4: 207,319 shares; 2026Q1: 207,319 shares; 2026Q2: 207,319 shares 207,319$2.18M0.54%0Timeline
XERSXERIS BIOPHARMA HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 263,158 shares 263,158$2.08M0.52%newTimeline
BBDCBARINGS BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 119,607 shares; 2024Q4: 119,607 shares; 2025Q1: 126,753 shares; 2025Q2: 126,753 shares; 2025Q3: 126,753 shares; 2025Q4: 126,753 shares; 2026Q1: 126,753 shares; 2026Q2: 126,753 shares 126,753$1.08M0.27%0Timeline
CVNACARVANA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,865 shares; 2025Q3: 1,865 shares; 2025Q4: 1,865 shares; 2026Q1: 1,865 shares; 2026Q2: 9,325 shares 9,325$614K0.15%+7,460Timeline
TOSTTOAST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 3,197 shares; 2025Q1: 3,197 shares; 2025Q2: 4,476 shares; 2025Q3: 4,476 shares; 2025Q4: 9,591 shares; 2026Q1: 9,591 shares; 2026Q2: 9,591 shares 9,591$267K0.07%0Timeline
RBRKRUBRIK INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,184 shares; 2025Q2: 3,184 shares; 2025Q3: 3,184 shares; 2025Q4: 3,184 shares; 2026Q1: 3,184 shares; 2026Q2: 3,184 shares 3,184$256K0.06%0Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 5,472 shares; 2025Q1: 5,472 shares; 2025Q2: 5,472 shares; 2025Q3: 5,472 shares; 2025Q4: 9,485 shares; 2026Q1: 9,485 shares; 2026Q2: 9,485 shares 9,485$127K0.03%0Timeline
OSCROSCAR HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,431 shares; 2025Q2: 4,431 shares; 2025Q3: 4,431 shares; 2025Q4: 4,431 shares; 2026Q1: 4,431 shares; 2026Q2: 4,431 shares 4,431$126K0.03%0Timeline
BKLNINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 5,902 shares; 2024Q4: 5,902 shares; 2025Q1: 5,902 shares; 2025Q2: 5,902 shares; 2025Q3: 5,902 shares; 2025Q4: 5,902 shares; 2026Q1: 5,902 shares; 2026Q2: 5,902 shares 5,902$120K0.03%0Timeline
IEFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,036 shares; 2024Q4: 1,036 shares; 2025Q1: 1,036 shares; 2025Q2: 1,036 shares; 2025Q3: 1,036 shares; 2025Q4: 1,036 shares; 2026Q1: 1,036 shares; 2026Q2: 1,036 shares 1,036$100K0.02%0Timeline

How Q2 2026 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 0001104659-26-094702 base2026-08-12acceptance time not in the bulk data set