Cliffwater 13F annual report
Cliffwater is an investment fund managing more than $467 billion ran by Jonathan Rogal. There are currently 21 companies in Mr. Rogal’s portfolio. The largest investments include Vanguard Index Fds and Ishares Tr, together worth $183 billion.
$467 billion Assets Under Management (AUM)
As of 7th August 2024, Cliffwater’s top holding is 451,229 shares of Vanguard Index Fds currently worth over $108 billion and making up 23.1% of the portfolio value.
In addition, the fund holds 1,405,445 shares of Ishares Tr worth $74.7 billion.
The third-largest holding is Vanguard Scottsdale Fds worth $101 billion and the next is Morgan Stanley Direct Lendin worth $47.7 billion, with 2,182,590 shares owned.
Currently, Cliffwater's portfolio is worth at least $467 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Cliffwater
The Cliffwater office and employees reside in Marina Del Rey, California. According to the last 13-F report filed with the SEC, Jonathan Rogal serves as the Senior Managing Director and General Counsel at Cliffwater.
Recent trades
In the most recent 13F filing, Cliffwater revealed that it had opened a new position in
Ishares Tr and bought 1,405,445 shares worth $74.7 billion.
The investment fund also strengthened its position in Vanguard Scottsdale Fds by buying
126,849 additional shares.
This makes their stake in Vanguard Scottsdale Fds total 1,070,136 shares worth $101 billion.
On the other hand, Jonathan Rogal disclosed a decreased stake in Vanguard Index Fds by approximately 0.1%.
This leaves the value of the investment at $108 billion and 451,229 shares.
One of the average hedge funds
The two most similar investment funds to Cliffwater are Embree and Private Wealth Strategies, L.L.C. They manage $467 billion and $468 billion respectively.
Jonathan Rogal investment strategy
Cliffwater’s portfolio is diversified across 2 sectors.
Currently, their heaviest sector is Finance — making up 3.2% of
the total portfolio value.
The fund focuses on investments in the United States as
14.3% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
approximately 0.1% of the total holdings value.
On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $3.62 billion.
The complete list of Cliffwater trades based on 13F SEC filings
These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Vanguard Index Fds |
2.53%
451,229
|
$107,859,918,000 | 23.08% |
| Ishares Tr |
Opened
1,405,445
|
$74,671,293,000 | 15.98% |
| Vanguard Scottsdale Fds |
13.45%
1,070,136
|
$100,750,501,000 | 21.56% |
| Morgan Stanley Direct Lendin |
No change
2,182,590
|
$47,689,594,000 | 10.20% |
| Vanguard Tax-managed Fds |
0.57%
782,575
|
$38,674,857,000 | 8.28% |
| Franklin Bsp Rlty Tr Inc |
No change
2,196,171
|
$27,671,755,000 | 5.92% |
| Ares Capital Corp |
4.14%
470,794
|
$9,811,355,000 | 2.10% |
| Vanguard Intl Equity Index F |
No change
211,582
|
$9,258,828,000 | 1.98% |
| Sixth Street Specialty Lendi |
23.36%
375,542
|
$8,017,823,000 | 1.72% |
| Cvb Finl Corp |
No change
412,247
|
$7,107,138,000 | 1.52% |
| Spdr S&p 500 Etf Tr |
No change
12,204
|
$6,641,661,000 | 1.42% |
| New Mtn Fin Corp |
2.26%
434,780
|
$5,321,707,000 | 1.14% |
| Blue Owl Capital Corporation |
22.47%
344,313
|
$5,288,648,000 | 1.13% |
| Blackstone Secd Lending Fd |
1.91%
156,890
|
$4,803,972,000 | 1.03% |
| BlackRock TCP Capital Corp |
0.59%
364,185
|
$3,933,198,000 | 0.84% |
| Oaktree Specialty Lending Co |
2.16%
141,402
|
$2,659,772,000 | 0.57% |
| Golub Cap Bdc Inc |
64.47%
158,036
|
$2,482,748,000 | 0.53% |
| Ishares Tr |
No change
42,649
|
$2,041,997,000 | 0.44% |
| Stellus Cap Invt Corp |
2.93%
102,889
|
$1,399,596,000 | 0.30% |
| Barings BDC Inc |
2.82%
116,490
|
$1,133,448,000 | 0.24% |
| Invesco Exch Traded Fd Tr Ii |
0.71%
5,902
|
$124,178,000 | 0.03% |
| No transactions found | |||
| Showing first 500 out of 21 holdings | |||
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