TEACHERS ADVISORS, LLC

CIK 0000939222 · Q1 2019

13F Equity AUM

$81.7T

+114815.3% QoQ

Positions

2,968

-25 QoQ

AUM Rank

—

Skill Alpha (FF)

+1.7%/yr^ns

No Clear Edge

Rank #1,511 · Top 18%

vs S&P +1.6%/yr (unadj.)

Quarters Tracked

~6 years

Portfolio Concentration

Top 5: 9.9%Top 10: 15.2%Top 20: 23.5%

MSFT2.9%

AAPL2.5%

AMZN2.1%

GOOG1.3%

META1.2%

JPM1.2%

JNJ1.1%

CSCO1.0%

GOOGL1.0%

PG1.0%

Others (2958)84.8%

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

Sector Allocation

Technology17.7%

Financial Services13.4%

Healthcare13.0%

Consumer Cyclical9.6%

Industrials9.2%

Communication Services8.1%

Unclassified6.4%

Real Estate6.0%

Other16.8%

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

Position Sizing

Positions: 2968Median: 0.01%Avg: 0.03%

0–0.5%

2937(69.9%)

0.5–1%

22(15.9%)

1–3%

9(14.2%)

3–5%

0(0.0%)

5%+

0(0.0%)

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

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Portfolio Overlap

Shared: 2,950Unique: 18vs 20 funds

63.7%High

2,968

Fund positions

4,612

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)

TIAA CREF INVESTMENT MANAGEMENT LLC

96.7%

PARAMETRIC PORTFOLIO ASSOCIATES LLC

61.7%

Aperio Group, LLC

61.4%

OppenheimerFunds, Inc.

52.2%

AMUNDI ASSET MANAGEMENT US, INC.

39.7%

Marshall Wace North America L.P.

37.6%

EATON VANCE MANAGEMENT

31.3%

PICTET ASSET MANAGEMENT LTD

26.4%

WADDELL & REED FINANCIAL INC

14.7%

Cheyne Capital Management (UK) LLP

0.3%

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

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Position Changes This Quarter

New46Increased1692Decreased649Exited73

New Positions

STE0.0%

+254K

TAK0.0%

+1.8M

TROX0.0%

+2.0M

FOXA0.0%

+574K

LYFT0.0%

+195K

AIVEUR0.0%

+265K

NVSN0.0%

+208K

HUYA0.0%

+474K

LEVI0.0%

+496K

AOIGBP0.0%

+308K

Increased

GRPNCHF0.0%

+3.3M(+95%)

AKRXEUR0.0%

+2.0M(+567%)

USB0.2%

+1.6M(+74%)

OASEUR0.0%

+1.5M(+77%)

T0.6%

+1.4M(+11%)

DISH 2.375 03/15/240.0%

+1.3M(+17%)

MFS1EUR0.0%

+1.2M(+752%)

HAIN0.0%

+1.2M(+1032%)

CPRI0.1%

+1.0M(+183%)

NEM0.1%

+982K(+62%)

Decreased

NOK0.1%

-2,532,410(-25%)

VIPS0.0%

-2,247,782(-91%)

WPXUSD0.0%

-1,576,001(-38%)

TPR0.1%

-1,516,692(-57%)

TPH0.0%

-1,497,853(-82%)

SLM0.0%

-1,446,866(-73%)

BAC0.9%

-1,391,124(-5%)

KNX0.0%

-1,203,238(-61%)

BGCPEUR0.0%

-1,181,564(-80%)

ABT0.4%

-1,091,672(-19%)

Exited

Twenty-First Century…

-1,644,853

Shire PLC

-789,136

Twenty-First Century…

-767,184

STE

-245,802

FNMA V8.25 PERP S

-3,098,472

Esterline Technologi…

-114,983

FCB Financial Holdin…

-359,694

athenahealth Inc

-103,439

-2,269,800

TROX

-2,250,929

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

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Holdings

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