# Cliffwater LLC: Form 13F holdings

An institutional investment manager in MARINA DEL REY, CA. SEC CIK 1659851.

- Quarter ended: 2026-06-30
- Filed: 2026-08-12
- Reported value: $401.7m
- Positions: 22 (22 lines in the filing's table; lines for the same security and option type are added together here)
- Compared with: the 13F for the quarter ended 2026-03-31
- Filing: https://www.sec.gov/Archives/edgar/data/1659851/000110465926094702/

## Holdings

As filed, largest first. Reported value is what the manager stated at the quarter end (Jun 30, 2026), in US dollars; it is filing data, not a price. Weight is the share of the total reported value.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| VANGUARD INDEX FDS | TOTAL STK MKT | $113.6m | 28.3% | 307,085 |  | Reduced −14,527 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | $70.8m | 17.6% | 1,200,527 |  | Added +428,497 |
| [BLUE OWL TECHNOLOGY FIN CORP (OTF)](/companies/otf.md) | COMMON STOCK | $61.2m | 15.2% | 5,908,955 |  | Unchanged |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | $54.8m | 13.6% | 768,881 |  | Reduced −1,300 |
| VANGUARD SCOTTSDALE FDS | VNG RUS3000IDX | $42.9m | 10.7% | 129,315 |  | Reduced −76,188 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | $12.4m | 3.1% | 208,320 |  | Unchanged |
| [CVB FINL CORP (CVBF)](/companies/cvbf.md) | COM | $9.3m | 2.3% | 412,247 |  | Unchanged |
| [SPDR S&P 500 ETF TR (SPY)](/companies/spy.md) | TR UNIT | $8.0m | 2.0% | 10,752 |  | Unchanged |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | $7.1m | 1.8% | 89,515 |  | Unchanged |
| VANGUARD INDEX FDS | REAL ESTATE ETF | $6.7m | 1.7% | 69,923 |  | Unchanged |
| [FORBRIGHT INC (FRBT)](/companies/frbt.md) | CL A COM | $5.1m | 1.3% | 280,309 |  | New +280,309 |
| ISHARES TR | MSCI EMG MKT ETF | $2.8m | 0.7% | 40,400 |  | Unchanged |
| [CARLYLE SECURED LENDING INC (CGBD)](/companies/cgbd.md) | COM | $2.2m | 0.5% | 207,319 |  | Unchanged |
| [XERIS BIOPHARMA HOLDINGS INC (XERS)](/companies/xers.md) | COM | $2.1m | 0.5% | 263,158 |  | New +263,158 |
| [BARINGS BDC INC (BBDC)](/companies/bbdc.md) | COM | $1.1m | 0.3% | 126,753 |  | Unchanged |
| [CARVANA CO (CVNA)](/companies/cvna.md) | CL A | $613.8k | 0.2% | 9,325 |  | Added +7,460 |
| [TOAST INC (TOST)](/companies/tost.md) | CL A | $266.8k | <0.1% | 9,591 |  | Unchanged |
| [RUBRIK INC. (RBRK)](/companies/rbrk.md) | CL A | $255.6k | <0.1% | 3,184 |  | Unchanged |
| NU HLDGS LTD | ORD SHS CL A | $126.7k | <0.1% | 9,485 |  | Unchanged |
| [OSCAR HEALTH INC (OSCR)](/companies/oscr.md) | CL A | $126.4k | <0.1% | 4,431 |  | Unchanged |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | $120.2k | <0.1% | 5,902 |  | Unchanged |
| ISHARES TR | CORE MSCI EAFE | $100.1k | <0.1% | 1,036 |  | Unchanged |

Source: SEC EDGAR, Form 13F-HR, accession 0001104659-26-094702. Last ingested by Listed: Oct 22, 2026, 05:26 ET. No prices; not investment advice.