TIAA CREF INVESTMENT MANAGEMENT LLC

CIK 0000887793 · Q1 2019

13F Equity AUM

$141.2T

+111739.2% QoQ

Positions

2,979

-7 QoQ

AUM Rank

—

Skill Alpha (FF)

+1.4%/yr^ns

No Clear Edge

Rank #1,636 · Top 20%

vs S&P +2.4%/yr (unadj.)

Quarters Tracked

~6 years

Portfolio Concentration

Top 5: 14.0%Top 10: 20.1%Top 20: 29.2%

MSFT3.6%

AAPL3.4%

AMZN3.1%

GOOG2.0%

META1.9%

V1.4%

GOOGL1.3%

CRM1.2%

MA1.1%

JNJ1.0%

Others (2969)80.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology19.7%

Financial Services13.4%

Healthcare13.1%

Consumer Cyclical11.3%

Communication Services9.7%

Industrials9.3%

Consumer Defensive6.0%

Unclassified5.3%

Other12.3%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 2979Median: 0.00%Avg: 0.03%

0–0.5%

2942(59.7%)

0.5–1%

26(19.3%)

1–3%

8(11.0%)

3–5%

3(10.1%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 2,954Unique: 25vs 20 funds

63.8%High

2,979

Fund positions

4,605

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 10 benchmark funds with highest portfolio overlap (Jaccard similarity)

TEACHERS ADVISORS, LLC

96.7%

PARAMETRIC PORTFOLIO ASSOCIATES LLC

61.6%

Aperio Group, LLC

61.6%

OppenheimerFunds, Inc.

51.9%

AMUNDI ASSET MANAGEMENT US, INC.

40.1%

Marshall Wace North America L.P.

37.5%

EATON VANCE MANAGEMENT

31.3%

PICTET ASSET MANAGEMENT LTD

26.7%

WADDELL & REED FINANCIAL INC

14.8%

Cheyne Capital Management (UK) LLP

0.3%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New69Increased1133Decreased1570Exited74

New Positions

TROX0.1%

+9.2M

TAK0.1%

+6.6M

Samsonite Internatio…0.0%

+16.5M

DOW0.0%

+1.0M

FOXA0.0%

+1.1M

LYFT0.0%

+405K

STE0.0%

+252K

BUR0.0%

+1.3M

QIAGEN NV0.0%

+657K

LEVI0.0%

+534K

Increased

BAC0.9%

+6.2M(+16%)

DWD0.3%

+5.1M(+89%)

USB0.2%

+3.5M(+99%)

SYF0.1%

+2.9M(+82%)

ATVIEUR0.2%

+2.7M(+63%)

FTCHQ0.1%

+2.6M(+203%)

EBA0.2%

+2.3M(+42%)

PE1EUR0.2%

+2.3M(+19%)

EA0.2%

+2.1M(+168%)

SIRIEUR0.0%

+2.0M(+30%)

Decreased

BBBYEUR0.0%

-6,517,231(-92%)

JPM0.8%

-4,787,519(-30%)

KHC0.1%

-3,963,693(-66%)

CNHI0.0%

-3,948,468(-41%)

ETRA0.1%

-3,836,532(-70%)

HBAN0.1%

-3,542,848(-34%)

MSFT3.6%

-3,084,239(-7%)

GILD0.3%

-2,808,453(-28%)

Athene Holding Ltd0.1%

-2,766,229(-61%)

M0.0%

-2,635,093(-77%)

Exited

Twenty-First Century…

-3,419,459

TROX

-9,806,545

Twenty-First Century…

-1,258,134

STE

-398,996

SHOP

-181,947

SNY

-583,851

Dun & Bradstreet…

-161,293

athenahealth Inc

-217,646

Imperva Inc

-193,135

DSW Inc

-301,812

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...