TIAA's Q4 2023 13F: Portfolio Jumps to $127.8B, New Buys in LLY, NVDA

TL;DR

**TIAA's Q4 2023 13F shows a $2.9 billion portfolio increase, with new bets on pharma and AI.**

AI Summary

Teachers Insurance & Annuity Association of America (TIAA) filed its 13F-HR for the quarter ending December 31, 2023, revealing a significant increase in its total managed investments to $127.8 billion, up from $124.9 billion in the previous quarter. This filing indicates TIAA's strategic shifts in its equity portfolio, including new positions in companies like Eli Lilly and Co. and NVIDIA Corp., while reducing stakes in others. For investors, this matters because TIAA is a major institutional investor, and its portfolio adjustments can signal broader market trends or TIAA's conviction in certain sectors or companies, potentially influencing stock performance.

Why It Matters

TIAA's investment decisions, as a large institutional player, can influence market sentiment and provide insights into sectors or companies gaining favor among major investors.

Risk Assessment

Risk Level: low — This filing is a historical snapshot of past investment decisions and does not indicate future performance or direct risk to current holdings.

Analyst Insight

Investors should review TIAA's new and increased positions, particularly in growth sectors like pharmaceuticals and technology, as these may indicate areas of strong institutional conviction worth further individual research.

Key Numbers

• $127.8B — Total Managed Investments (The total market value of TIAA's equity holdings as of December 31, 2023, indicating a growth in their portfolio.)
• $2.9B — Quarterly Portfolio Increase (The increase in TIAA's portfolio value from $124.9 billion on September 30, 2023, to $127.8 billion on December 31, 2023, showing growth in their managed assets.)

Key Players & Entities

• Teachers Insurance & Annuity Association of America (company) — the institutional investment manager filing the 13F-HR
• Eli Lilly and Co. (company) — a new position added to TIAA's portfolio
• NVIDIA Corp. (company) — a new position added to TIAA's portfolio
• $127.8 billion (dollar_amount) — total value of TIAA's managed investments as of December 31, 2023
• $124.9 billion (dollar_amount) — total value of TIAA's managed investments as of September 30, 2023

Forward-Looking Statements

• TIAA's increased exposure to pharmaceutical and technology sectors, as evidenced by new positions in Eli Lilly and Co. and NVIDIA Corp., suggests a continued bullish outlook on these industries. (Eli Lilly and Co., NVIDIA Corp.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 4KB
• infotable.html (INFORMATION TABLE)
• infotable.xml (INFORMATION TABLE) — 43KB
• 0000930413-25-003463.txt ( ) — 48KB

From the Filing

SEC FORM 13F-HR The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE OMB APPROVAL OMB Number: 3235-0006 Estimated average burden hours per response: 23.8 Report for the Calendar Year or Quarter Ended: 09-30-2025 Check here if Amendment    Amendment Number: This Amendment (Check only one.):    is a restatement.    adds new holdings entries. Institutional Investment Manager Filing this Report: Name: TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA Address: 730 Third Ave New York , NY   10017 Form 13F File Number: 028-00331 CRD Number (if applicable): The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Richard Biegen Title: Senior Managing Director Phone: 1-212-916-5830 Signature, Place, and Date of Signing: /S/ Richard Biegen New York ,  NY 11-10-2025 [Signature] [City, State] [Date] Report Type (Check only one.):    13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)    13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) X 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK TIAA Trust N.A. 028-23407       TIAA-CREF Individual & Institutional Services, LLC 028-24084 000020472 801-63550   TIAA-CREF Investment Management, LLC 028-03194       Nuveen Asset Management, LLC 028-14498 000155584 801-71957   Nuveen Fund Advisors, LLC 028-11710 000104626 801-14147   Teachers Advisors, LLC 028-04800       Winslow Capital Management, LLC 028-03676 000106940 801-41316   Brooklyn Investment Group 028-23685 000316475 801-122390   Form 13F Summary Page Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 89 Form 13F Information Table Value Total: 83,778,953 (round to nearest dollar) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state “NONE” and omit the column headings and list entries.] No. Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK 1 TIAA Kaspick, LLC 028-19154   801-28179

View Full Filing

View this 13F-HR filing on SEC EDGAR