Q4 2025 · 13F-HR
Cliffwater LLCholdings as filed
Filed 2026-02-12 · accession 0001104659-26-014313
$476.4M
Reported value
22
Positions
2025-12-31
Period end
The Brief · Cliffwater LLC · Q4 2025
AI · grounded in 13F
Cliffwater LLC more than doubled its position in Toast Inc TOST, increasing share count by 114.28%. The fund also accumulated Nu Holdings Ltd NU by 73.34%. Conversely, the firm reduced its holding in Vanguard Scottsdale Fds VTHR by 12.90%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 922908769 | VTI | VANGUARD INDEX FDS | $115.3M | 24.2% | 344,018 | Common | SOLE |
| 095924106 | OTF | BLUE OWL TECHNOLOGY FIN CORP | $85.9M | 18.0% | 5,908,955 | Common | SOLE |
| 464288240 | ACWX | ISHARES TR | $70.4M | 14.8% | 1,048,621 | Common | SOLE |
| 92206C599 | VTHR | VANGUARD SCOTTSDALE FDS | $61.7M | 13.0% | 205,503 | Common | SOLE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $48.1M | 10.1% | 770,181 | Common | SOLE |
| 92206C706 | VGIT | VANGUARD SCOTTSDALE FDS | $46.3M | 9.71% | 772,030 | Common | SOLE |
| 922042858 | VWO | VANGUARD INTL EQUITY INDEX F | $11.2M | 2.35% | 208,320 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $8.3M | 1.75% | 12,204 | Common | SOLE |
| 126600105 | CVBF | CVB FINL CORP | $7.7M | 1.61% | 412,247 | Common | SOLE |
| 92206C409 | VCSH | VANGUARD SCOTTSDALE FDS | $7.2M | 1.51% | 90,207 | Common | SOLE |
| 922908553 | VNQ | VANGUARD INDEX FDS | $6.2M | 1.30% | 69,923 | Common | SOLE |
| 872280102 | CGBD | CARLYLE SECURED LENDING INC | $2.6M | 0.54% | 207,319 | Common | SOLE |
| 464287234 | EEM | ISHARES TR | $2.2M | 0.46% | 40,400 | Common | SOLE |
| 06759L103 | BBDC | BARINGS BDC INC | $1.2M | 0.24% | 126,753 | Common | SOLE |
| 146869102 | CVNA | CARVANA CO | $787,067 | 0.17% | 1,865 | Common | SOLE |
| 888787108 | TOST | TOAST INC | $340,576 | 0.07% | 9,591 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $298,592 | 0.06% | 1,213 | Common | SOLE |
| 781154109 | RBRK | RUBRIK INC. | $243,512 | 0.05% | 3,184 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $158,779 | 0.03% | 9,485 | Common | SOLE |
| 46138G508 | BKLN | INVESCO EXCH TRADED FD TR II | $123,942 | 0.03% | 5,902 | Common | SOLE |
| 46432F842 | IEFA | ISHARES TR | $92,681 | 0.02% | 1,036 | Common | SOLE |
| 687793109 | OSCR | OSCAR HEALTH INC | $63,673 | 0.01% | 4,431 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.