UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number File No. 811-09301

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
(Exact name of registrant as specified in charter)

730 Third Avenue, New York, New York 10017
(Address of principal executive offices) (Zip code)

Stewart P. Greene, Esq.
c/o TIAA-CREF
730 Third Avenue,
New York, New York 10017-3206
(Name and address of agent for service)

Registrant's telephone number, including area code: 212-490-9000

Date of fiscal year end: September 30

Date of reporting period: April 1, 2006 – June 30, 2006

Item 1. Schedule of Investments.

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
GROWTH EQUITY FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 98.94%
APPAREL AND ACCESSORY STORES - 0.69%
20,569	*	Chico's FAS, Inc	$	554,952
2,928	*	J Crew Group, Inc		80,374
		TOTAL APPAREL AND ACCESSORY STORES		635,326
APPAREL AND OTHER TEXTILE PRODUCTS - 0.33%
5,616		Polo Ralph Lauren Corp		308,318
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		308,318
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.35%
20,508		Lowe's Cos, Inc		1,244,220
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		1,244,220
BUSINESS SERVICES - 13.10%
45,293	*	Adobe Systems, Inc		1,375,095
16,100	*	Akamai Technologies, Inc		582,659
13,584	*	Cognizant Technology Solutions Corp		915,154
45,065	*	eBay, Inc		1,319,954
26,414	*	Electronic Arts, Inc		1,136,859
6,813	*	Google, Inc (Class A)		2,856,895
33	*	Interpublic Group of Cos, Inc		276
50,552		Microsoft Corp		1,177,862
13,704	*	Red Hat, Inc		320,674
17,964		SAP AG. (ADR)		943,469
42,943	*	Yahoo!, Inc		1,417,119
		TOTAL BUSINESS SERVICES		12,046,016
CHEMICALS AND ALLIED PRODUCTS - 11.27%
45,187		Abbott Laboratories		1,970,605
32,650	*	Amgen, Inc		2,129,760
7,515		Eli Lilly & Co		415,354
15,349	*	Genzyme Corp		937,056
13,170	*	Gilead Sciences, Inc		779,137
13,039		Monsanto Co		1,097,753
18,348	*	Sepracor, Inc		1,048,405
26,449		Teva Pharmaceutical Industries Ltd (ADR)		835,524
25,763		Wyeth		1,144,135
		TOTAL CHEMICALS AND ALLIED PRODUCTS		10,357,729
COAL MINING - 0.45%
7,413		Peabody Energy Corp		413,275
		TOTAL COAL MINING		413,275
COMMUNICATIONS - 3.22%
43,474		AT&T, Inc		1,212,490
17,842		America Movil S.A. de C.V. (ADR)		593,425

1

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
19,663		Sprint Nextel Corp	$	393,063
22,696	*	Univision Communications, Inc (Class A)		760,316
		TOTAL COMMUNICATIONS		2,959,294
EATING AND DRINKING PLACES - 1.10%
26,735	*	Starbucks Corp		1,009,514
		TOTAL EATING AND DRINKING PLACES		1,009,514
ELECTRIC, GAS, AND SANITARY SERVICES - 0.73%
26,455		Fortum Oyj		676,534
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		676,534
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 14.26%
17,969	*	Broadcom Corp (Class A)		539,968
85,888	*	Cisco Systems, Inc		1,677,393
9,310		Cooper Industries Ltd (Class A)		865,085
17,740		Emerson Electric Co		1,486,789
9,313		Harman International Industries, Inc		795,051
69,117		Intel Corp		1,309,767
3,786		Linear Technology Corp		126,793
287,000	*	Lucent Technologies, Inc		694,540
18,553	*	Marvell Technology Group Ltd		822,454
42,692		Motorola, Inc		860,244
32,292	*	Network Appliance, Inc		1,139,908
49	*	Nortel Networks Corp		110
55,411		Qualcomm, Inc		2,220,319
19,024		Texas Instruments, Inc		576,237
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		13,114,658
ENGINEERING AND MANAGEMENT SERVICES - 2.41%
13,204	*	Celgene Corp		626,266
16,076	*	Keryx Biopharmaceuticals, Inc		228,279
34,924		Paychex, Inc		1,361,338
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		2,215,883
FABRICATED METAL PRODUCTS - 0.01%
200		Illinois Tool Works, Inc		9,500
		TOTAL FABRICATED METAL PRODUCTS		9,500
FOOD AND KINDRED PRODUCTS - 2.37%
36,254		PepsiCo, Inc		2,176,690
		TOTAL FOOD AND KINDRED PRODUCTS		2,176,690
FURNITURE AND HOMEFURNISHINGS STORES - 0.89%
24,667	*	Bed Bath & Beyond, Inc		818,204
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		818,204
GENERAL MERCHANDISE STORES - 2.56%
29,328		Target Corp		1,433,259
19,187		Wal-Mart Stores, Inc		924,238
		TOTAL GENERAL MERCHANDISE STORES		2,357,497
HEALTH SERVICES - 1.34%
6,440		Caremark Rx, Inc		321,163

2

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
15,895	*	Medco Health Solutions, Inc	$	910,466
		TOTAL HEALTH SERVICES		1,231,629
HOLDING AND OTHER INVESTMENT OFFICES - 2.38%
3,976		Alcon, Inc		391,835
114		Global Signal, Inc		5,281
493		Hugoton Royalty Trust		14,642
35,180		iShares Russell 1000 Growth Index Fund		1,779,404
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		2,191,162
HOTELS AND OTHER LODGING PLACES - 1.23%
18,688		Starwood Hotels & Resorts Worldwide, Inc		1,127,634
		TOTAL HOTELS AND OTHER LODGING PLACES		1,127,634
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.82%
6,694	*	Alstom RGPT		611,561
19,953	*	Apple Computer, Inc		1,139,715
27,785		Applied Materials, Inc		452,340
8,803		Caterpillar, Inc		655,647
2,617		Deere & Co		218,493
15,051	*	EMC Corp		165,109
6,725	*	Rackable Systems, Inc		265,570
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		3,508,435
INSTRUMENTS AND RELATED PRODUCTS - 3.76%
18,168	*	Advanced Medical Optics, Inc		921,118
10,853		Medtronic, Inc		509,223
29,818	*	St. Jude Medical, Inc		966,700
18,733	*	Zimmer Holdings, Inc		1,062,536
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		3,459,577
INSURANCE CARRIERS - 2.66%
36,514		Aetna, Inc		1,458,004
38,388		Progressive Corp		986,955
		TOTAL INSURANCE CARRIERS		2,444,959
LEATHER AND LEATHER PRODUCTS - 1.00%
30,597	*	Coach, Inc		914,850
		TOTAL LEATHER AND LEATHER PRODUCTS		914,850
METAL MINING - 0.51%
19,426		Companhia Vale do Rio Doce (ADR)		467,001
		TOTAL METAL MINING		467,001
MISCELLANEOUS RETAIL - 1.98%
59,201		CVS Corp		1,817,471
		TOTAL MISCELLANEOUS RETAIL		1,817,471
MOTION PICTURES - 0.58%
17,709		Walt Disney Co		531,270
		TOTAL MOTION PICTURES		531,270
NONDEPOSITORY INSTITUTIONS - 2.32%
39,992		American Express Co		2,128,374
		TOTAL NONDEPOSITORY INSTITUTIONS		2,128,374

3

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
OIL AND GAS EXTRACTION - 3.50%
15,548		Halliburton Co	$	1,153,817
5,999		Noble Energy, Inc		281,113
16,847		Schlumberger Ltd		1,096,908
15,473		XTO Energy, Inc		684,990
		TOTAL OIL AND GAS EXTRACTION		3,216,828
PETROLEUM AND COAL PRODUCTS - 0.54%
7,174		EOG Resources, Inc		497,445
		TOTAL PETROLEUM AND COAL PRODUCTS		497,445
PRIMARY METAL INDUSTRIES - 2.10%
79,734	*	Corning, Inc		1,928,765
		TOTAL PRIMARY METAL INDUSTRIES		1,928,765
SECURITY AND COMMODITY BROKERS - 6.17%
95,330		Charles Schwab Corp		1,523,373
2,683		Chicago Mercantile Exchange Holdings, Inc		1,317,755
29,288	*	E*Trade Financial Corp		668,352
6,418		Goldman Sachs Group, Inc		965,460
10,413		Merrill Lynch & Co, Inc		724,328
31,813		TD Ameritrade Holding Corp		471,151
		TOTAL SECURITY AND COMMODITY BROKERS		5,670,419
TOBACCO PRODUCTS - 2.26%
28,317		Altria Group, Inc		2,079,317
		TOTAL TOBACCO PRODUCTS		2,079,317
TRANSPORTATION BY AIR - 0.47%
26,225		Southwest Airlines Co		429,303
		TOTAL TRANSPORTATION BY AIR		429,303
TRANSPORTATION EQUIPMENT - 4.12%
20,014		Boeing Co		1,639,347
33,837		United Technologies Corp		2,145,943
		TOTAL TRANSPORTATION EQUIPMENT		3,785,290
TRANSPORTATION SERVICES - 0.96%
16,491		CH Robinson Worldwide, Inc		878,970
		TOTAL TRANSPORTATION SERVICES		878,970
TRUCKING AND WAREHOUSING - 1.80%
20,119		United Parcel Service, Inc (Class B)		1,656,397
		TOTAL TRUCKING AND WAREHOUSING		1,656,397
WHOLESALE TRADE-DURABLE GOODS - 0.70%
16,704		General Electric Co		550,564
1,344	*	WESCO International, Inc		92,736
		TOTAL WHOLESALE TRADE-DURABLE GOODS		643,300
		TOTAL COMMON STOCKS		90,951,054
		(Cost $94,598,712)

4

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
PRINCIPAL		COMPANY		VALUE
SHORT-TERM INVESTMENTS - 1.02%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.02%
$     940,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06	$	940,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		940,000
		TOTAL SHORT-TERM INVESTMENTS		940,000
		(Cost $939,746)
		TOTAL PORTFOLIO - 99.96%		91,891,054
		(Cost $95,538,458)
		OTHER ASSETS & LIABILITIES, NET - 0.04%		38,746
		NET ASSETS - 100.00%	$	91,929,800
	*	Non-income producing
		ABBREVIATION:
		ADR - American Depositary Receipt
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

5

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
GROWTH & INCOME FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 99.29%
AMUSEMENT AND RECREATION SERVICES - 0.32%
28,475	*	GameLoft	$	210,811
2,000		Nintendo Co Ltd		335,914
		TOTAL AMUSEMENT AND RECREATION SERVICES		546,725
APPAREL AND ACCESSORY STORES - 0.36%
10,458		Abercrombie & Fitch Co (Class A)		579,687
1,515	*	J Crew Group, Inc		41,587
		TOTAL APPAREL AND ACCESSORY STORES		621,274
BUSINESS SERVICES - 5.53%
17,125	*	Adobe Systems, Inc		519,915
64,877		Advanced Semiconductor Engineering, Inc (ADR)		322,439
36,872		Automatic Data Processing, Inc		1,672,145
16,972	*	eBay, Inc		497,110
398	*	Gmarket, Inc (ADR)		6,117
2,256	*	Google, Inc (Class A)		946,008
2	*	Interpublic Group of Cos, Inc		17
115,250		Microsoft Corp		2,685,325
26,962	*	Redback Networks, Inc		494,483
20,440		SAP AG. (ADR)		1,073,509
37,308	*	Yahoo!, Inc		1,231,164
		TOTAL BUSINESS SERVICES		9,448,232
CHEMICALS AND ALLIED PRODUCTS - 14.00%
32,973		Abbott Laboratories		1,437,952
21,574		Air Products & Chemicals, Inc		1,379,010
19,084		Akzo Nobel NV		1,028,778
13,241	*	Amgen, Inc		863,710
15,354		Colgate-Palmolive Co		919,705
17,587		Cytec Industries, Inc		943,718
11,853		Du Pont (E.I.) de Nemours & Co		493,085
20,136		Eli Lilly & Co		1,112,917
18,361	*	Gilead Sciences, Inc		1,086,237
17,700	*	Keryx Biopharmaceuticals, Inc		251,340
27,406		Merck & Co, Inc		998,400
18,277		Monsanto Co		1,538,741
18,893		Novartis AG. (ADR)		1,018,711
102,133		Pfizer, Inc		2,397,061
65,651		Procter & Gamble Co		3,650,196
5,199		Roche Holding AG.		857,729
67,020		Schering-Plough Corp		1,275,391
9,482		Sigma-Aldrich Corp		688,772
44,733		Wyeth		1,986,593
		TOTAL CHEMICALS AND ALLIED PRODUCTS		23,928,046

6

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
COAL MINING - 0.27%
11,849		Sasol Ltd (ADR)	$	457,845
		TOTAL COAL MINING		457,845
COMMUNICATIONS - 3.12%
76,900		AT&T, Inc		2,144,741
29,727		America Movil S.A. de C.V. (ADR)		988,720
27,538		BellSouth Corp		996,875
59,810		Sprint Nextel Corp		1,195,602
		TOTAL COMMUNICATIONS		5,325,938
DEPOSITORY INSTITUTIONS - 10.01%
77,917		Bank of America Corp		3,747,808
69,898		Citigroup, Inc		3,371,880
72,871		JPMorgan Chase & Co		3,060,582
28,403		Marshall & Ilsley Corp		1,299,153
32,725		Northern Trust Corp		1,809,692
26,344		South Financial Group, Inc		695,745
61,546		US Bancorp		1,900,540
18,120		Wells Fargo & Co		1,215,490
		TOTAL DEPOSITORY INSTITUTIONS		17,100,890
EATING AND DRINKING PLACES - 0.61%
2,237	*	Chipotle Mexican Grill, Inc		136,345
23,868	*	Starbucks Corp		901,256
		TOTAL EATING AND DRINKING PLACES		1,037,601
ELECTRIC, GAS, AND SANITARY SERVICES - 2.58%
29,023		American Electric Power Co, Inc		994,038
39,441		DPL, Inc		1,057,019
9,387		Entergy Corp		664,130
29,952		Exelon Corp		1,702,172
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		4,417,359
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.39%
9,149		Amphenol Corp (Class A)		511,978
150,078	*	Cisco Systems, Inc		2,931,023
25,822	*	Comverse Technology, Inc		510,501
21,805		Emerson Electric Co		1,827,477
21,249		Gamesa Corp Tecnologica S.A.		455,370
57,097		Honeywell International, Inc		2,301,009
71,270		Intel Corp		1,350,566
230,794	*	JDS Uniphase Corp		583,909
10,183		Linear Technology Corp		341,029
40,088		Motorola, Inc		807,773
85,510	*	PMC - Sierra, Inc		803,794
47,608		Qualcomm, Inc		1,907,653
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		14,332,082
FABRICATED METAL PRODUCTS - 0.47%
17,036		Illinois Tool Works, Inc		809,210
		TOTAL FABRICATED METAL PRODUCTS		809,210

7

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
FOOD AND KINDRED PRODUCTS - 2.95%
8,487		Archer Daniels Midland Co	$	350,343
17,699		H.J. Heinz Co		729,553
2,432		Nestle S.A.		762,358
53,371		PepsiCo, Inc		3,204,395
		TOTAL FOOD AND KINDRED PRODUCTS		5,046,649
FURNITURE AND FIXTURES - 0.07%
5,620	*	BE Aerospace, Inc		128,473
		TOTAL FURNITURE AND FIXTURES		128,473
FURNITURE AND HOMEFURNISHINGS STORES - 1.59%
32,404	*	Bed Bath & Beyond, Inc		1,074,841
29,812		Best Buy Co, Inc		1,634,890
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		2,709,731
GENERAL MERCHANDISE STORES - 2.52%
15,612		Costco Wholesale Corp		891,914
24,445		Target Corp		1,194,627
46,062		Wal-Mart Stores, Inc		2,218,806
		TOTAL GENERAL MERCHANDISE STORES		4,305,347
HEALTH SERVICES - 2.33%
14,216	*	Coventry Health Care, Inc		781,027
28,468	*	Medco Health Solutions, Inc		1,630,647
18,887		Omnicare, Inc		895,622
19,178		Pharmaceutical Product Development, Inc		673,531
		TOTAL HEALTH SERVICES		3,980,827
HOLDING AND OTHER INVESTMENT OFFICES - 0.51%
6,900		SPDR Trust Series 1		878,232
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		878,232
HOTELS AND OTHER LODGING PLACES - 0.86%
14,137		Accor S.A.		860,250
8,414	*	Wynn Resorts Ltd		616,746
		TOTAL HOTELS AND OTHER LODGING PLACES		1,476,996
INDUSTRIAL MACHINERY AND EQUIPMENT - 8.16%
21,476		3M Co		1,734,616
13,409	*	Alstom RGPT		1,225,040
23,921	*	Apple Computer, Inc		1,366,367
16,368	*	Dell, Inc		399,543
24,940	*	EMC Corp		273,592
148,926		General Electric Co		4,908,601
84,844		Hewlett-Packard Co		2,687,858
17,558		International Business Machines Corp		1,348,806
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		13,944,423
INSTRUMENTS AND RELATED PRODUCTS - 0.89%
14,855	*	Advanced Medical Optics, Inc		753,148
25,826		Tektronix, Inc		759,801
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		1,512,949

8

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
INSURANCE CARRIERS - 5.01%
38,017		ACE Ltd	$	1,923,280
22,761		Aetna, Inc		908,847
37,937		Aflac, Inc		1,758,380
50,345		American International Group, Inc		2,972,872
8,599		Assurant, Inc		416,192
11,733		Chubb Corp		585,477
		TOTAL INSURANCE CARRIERS		8,565,048
METAL MINING - 1.05%
16,667		Inco Ltd		1,098,355
8,435		Phelps Dodge Corp		693,020
		TOTAL METAL MINING		1,791,375
MISCELLANEOUS RETAIL - 0.75%
41,710		CVS Corp		1,280,497
		TOTAL MISCELLANEOUS RETAIL		1,280,497
MOTION PICTURES - 1.35%
12,836		CBS Corp		347,214
101,770		News Corp (Class A)		1,951,949
		TOTAL MOTION PICTURES		2,299,163
NONDEPOSITORY INSTITUTIONS - 3.31%
49,415		American Express Co		2,629,866
30,912		Fannie Mae		1,486,867
29,092		SLM Corp		1,539,549
		TOTAL NONDEPOSITORY INSTITUTIONS		5,656,282
OIL AND GAS EXTRACTION - 2.70%
34,108	*	Cameron International Corp		1,629,339
6,334		Halliburton Co		470,046
38,502		Schlumberger Ltd		2,506,865
		TOTAL OIL AND GAS EXTRACTION		4,606,250
PETROLEUM AND COAL PRODUCTS - 6.90%
15,006		Apache Corp		1,024,160
79,926		Exxon Mobil Corp		4,903,460
15,198		Hess Corp		803,214
15,818		Kerr-McGee Corp		1,096,978
21,365		Marathon Oil Corp		1,779,705
14,811	*	Newfield Exploration Co		724,850
15,433		Noble Energy, Inc		723,190
11,050		Valero Energy Corp		735,046
		TOTAL PETROLEUM AND COAL PRODUCTS		11,790,603
PRINTING AND PUBLISHING - 0.49%
8,347		Meredith Corp		413,510
15,799	*	VistaPrint Ltd		422,465
		TOTAL PRINTING AND PUBLISHING		835,975
RAILROAD TRANSPORTATION - 0.33%
10,644		Norfolk Southern Corp		566,474
		TOTAL RAILROAD TRANSPORTATION		566,474

9

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 2.52%
6,045		Bear Stearns Cos, Inc	$	846,784
26,088		Lazard Ltd		1,053,955
38,012		Morgan Stanley		2,402,739
		TOTAL SECURITY AND COMMODITY BROKERS		4,303,478
TOBACCO PRODUCTS - 3.92%
91,288		Altria Group, Inc		6,703,278
		TOTAL TOBACCO PRODUCTS		6,703,278
TRANSPORTATION BY AIR - 0.45%
30,017	*	AMR Corp		763,032
		TOTAL TRANSPORTATION BY AIR		763,032
TRANSPORTATION EQUIPMENT - 3.12%
22,219		Boeing Co		1,819,958
24,596		Northrop Grumman Corp		1,575,620
30,395		United Technologies Corp		1,927,651
		TOTAL TRANSPORTATION EQUIPMENT		5,323,229
TRANSPORTATION SERVICES - 0.36%
11,511		CH Robinson Worldwide, Inc		613,536
		TOTAL TRANSPORTATION SERVICES		613,536
TRUCKING AND WAREHOUSING - 0.52%
3,105		DSV A/S		518,942
7,789		Landstar System, Inc		367,874
		TOTAL TRUCKING AND WAREHOUSING		886,816
WHOLESALE TRADE-DURABLE GOODS - 0.00% **
12		Finning International, Inc		401
		TOTAL WHOLESALE TRADE-DURABLE GOODS		401
WHOLESALE TRADE-NONDURABLE GOODS - 0.97%
25,754		Cardinal Health, Inc		1,656,755
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,656,755
		TOTAL COMMON STOCKS		169,651,021
		(Cost $156,453,656)
		TOTAL PORTFOLIO - 99.29%		169,651,021
		(Cost $156,453,656)
		OTHER ASSETS & LIABILITIES, NET - 0.71%		1,210,035
		NET ASSETS - 100.00%	$	170,861,056
	*	Non-income producing
	**	Percentage represents less than 0.01%
		ABBREVIATION:
		ADR - American Depositary Receipt
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

10

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INTERNATIONAL EQUITY FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 98.91%
AGRICULTURAL SERVICES - 0.04%
125,000		AWB Ltd	$	402,121
		TOTAL AGRICULTURAL SERVICES		402,121
APPAREL AND OTHER TEXTILE PRODUCTS - 0.21%
813,000		Toyobo Co Ltd		2,304,264
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		2,304,264
BUSINESS SERVICES - 0.81%
70,000		Mitsuba Corp		756,856
424		NTT Data Corp		1,835,980
17,100		Otsuka Corp		1,929,668
6,285		SAP AG.		1,325,992
58,000		Secom Co Ltd		2,744,872
		TOTAL BUSINESS SERVICES		8,593,368
CHEMICALS AND ALLIED PRODUCTS - 11.45%
281,000		Air Water, Inc		2,834,212
1,270,000		Aluminum Corp of China Ltd		940,196
2,638	*	Arkema		102,913
1,241,697		Bayer AG.		57,061,778
49,147		Dr Reddy's Laboratories Ltd		1,353,517
237,600	*	Dyno Nobel Ltd		434,251
79,200		JSR Corp		2,002,257
128,000		Kaken Pharmaceutical Co Ltd		961,833
154,000		Kuraray Co Ltd		1,724,358
486,000		Nippon Paint Co Ltd		2,304,264
148,000		Nippon Shokubai Co Ltd		1,811,241
166,419		Novartis AG.		8,993,419
543,809		Reckitt Benckiser plc		20,317,201
7,863		Roche Holding AG.		1,297,235
72,800		Shin-Etsu Chemical Co Ltd		3,961,125
559,200		Sigma Pharmaceuticals Ltd		1,080,190
290,000		Sumitomo Chemical Co Ltd		2,420,155
166,900		Takeda Pharmaceutical Co Ltd		10,395,206
307,000		Teijin Ltd		1,949,718
		TOTAL CHEMICALS AND ALLIED PRODUCTS		121,945,069
COAL MINING - 1.16%
576,035		BHP Billiton Ltd		12,410,987
		TOTAL COAL MINING		12,410,987
COMMUNICATIONS - 2.09%
559		KDDI Corp		3,437,668
534		Nippon Telegraph & Telephone Corp		2,620,601
1,265,547		Royal KPN NV		14,223,902

11

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
3,009		SKY Perfect Communications, Inc	$	1,942,564
		TOTAL COMMUNICATIONS		22,224,735
DEPOSITORY INSTITUTIONS - 6.17%
182,424		Australia & New Zealand Banking Group Ltd		3,603,792
55		DBS Group Holdings Ltd		630
97,200		Hang Seng Bank Ltd		1,232,677
80,594		ICICI Bank Ltd (ADR)		1,906,048
406,055		Julius Baer Holding AG.		35,202,482
653		Mitsubishi UFJ Financial Group, Inc		9,139,658
773		Mizuho Financial Group. Inc		6,552,395
292		Sumitomo Mitsui Financial Group, Inc		3,090,758
454,000		Sumitomo Trust & Banking Co Ltd		4,964,353
		TOTAL DEPOSITORY INSTITUTIONS		65,692,793
ELECTRIC, GAS, AND SANITARY SERVICES - 4.57%
1,609,430		Fortum Oyj		41,157,945
447,000		Hong Kong & China Gas Ltd		981,248
6,903,000		Xinao Gas Holdings Ltd		6,576,825
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		48,716,018
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.92%
17,700		Fanuc Ltd		1,591,707
10,100		Hirose Electric Co Ltd		1,228,098
111,000		Hitachi Maxell Ltd		1,531,269
29,200		Kyocera Corp		2,263,150
35,000		NGK Spark Plug Co Ltd		704,195
11,800		Rohm Co Ltd		1,055,977
117,517		Satyam Computer Services Ltd		1,811,380
149,700		Sony Corp		6,613,174
42,600		Sumco Corp		2,429,707
16,000		TDK Corp		1,217,688
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		20,446,345
FABRICATED METAL PRODUCTS - 0.47%
189,000		NEOMAX Co Ltd		4,001,050
90,096		Tata Steel Ltd		1,044,303
		TOTAL FABRICATED METAL PRODUCTS		5,045,353
FOOD AND KINDRED PRODUCTS - 2.11%
147,000		Ajinomoto Co, Inc		1,629,261
284,919		Bajaj Hindusthan Ltd		2,429,609
11,000	*	Cosan SA Industria e Comercio		709,022
843,589		CSR Ltd		2,099,593
393,000		Meiji Seika Kaisha Ltd		2,004,278
270,000		Mitsui Sugar Co Ltd		1,022,700
193,000		Nichirei Corp		1,033,250
500,000		Nippon Formula Feed Manufacturing Co Ltd		874,776
1,401,000		Nisshin Oillio Group Ltd		8,946,595
265,000		Nosan Corp		792,809
983,000		Olam International Ltd		895,134
		TOTAL FOOD AND KINDRED PRODUCTS		22,437,027

12

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES	COMPANY		VALUE
FOOD STORES - 4.00%
6,588,103	Tesco plc	$	40,697,991
125,059	Woolworths Ltd		1,872,188
	TOTAL FOOD STORES		42,570,179
GENERAL BUILDING CONTRACTORS - 1.24%
33,300	Daito Trust Construction Co Ltd		1,846,844
249,000	Sekisui Chemical Co Ltd		2,152,054
12,180,000	Shanghai Forte Land Co		4,939,745
770,000	Shimizu Corp		4,317,631
	TOTAL GENERAL BUILDING CONTRACTORS		13,256,274
HEAVY CONSTRUCTION, EXCEPT BUILDING - 4.55%
470,676	Vinci S.A.		48,477,386
	TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		48,477,386
HOLDING AND OTHER INVESTMENT OFFICES - 11.52%
1,380,279	Collins Stewart Tullett plc		19,376,475
1,768,008	GEA Group AG.		30,292,884
455,500	iShares MSCI EAFE Index Fund		29,785,145
20,061	Macquarie Infrastructure Group		50,079
874,829	Man Group plc		41,227,663
2,762,300	Noble Group Ltd		1,904,010
	TOTAL HOLDING AND OTHER INVESTMENT OFFICES		122,636,256
HOTELS AND OTHER LODGING PLACES - 5.32%
919,982	Accor S.A.		55,981,771
27,000	Indian Hotels Co Ltd		671,159
	TOTAL HOTELS AND OTHER LODGING PLACES		56,652,930
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.90%
99,450	Canon, Inc		4,880,501
211,000	Komatsu Ltd		4,199,143
102,600	Melco Holdings, Inc		2,701,535
470,688	Rheinmetall AG.		32,806,576
77,600	Tokyo Seimitsu Co Ltd		4,032,227
146,600	Toyota Tsusho Corp		3,520,247
	TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		52,140,229
INSTRUMENTS AND RELATED PRODUCTS - 1.41%
19,045	Advantest Corp		1,942,568
138,786	Tecan Group AG.		7,466,120
166,600	Terumo Corp		5,567,178
	TOTAL INSTRUMENTS AND RELATED PRODUCTS		14,975,866
INSURANCE AGENTS, BROKERS AND SERVICE - 0.23%
159,148	QBE Insurance Group Ltd		2,423,899
	TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		2,423,899
INSURANCE CARRIERS - 4.89%
1,029,000	Aioi Insurance Co Ltd		7,723,238
870,591	AMP Ltd		5,905,333
325,309	Fondiaria-Sai S.p.A		13,293,962
93	Millea Holdings, Inc		1,732,843
430,000	Nipponkoa Insurance Co Ltd		3,716,398

13

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
123,000		Sompo Japan Insurance, Inc	$	1,721,559
23,000		T&D Holdings, Inc		1,861,086
73,586		Zurich Financial Services AG.		16,098,815
		TOTAL INSURANCE CARRIERS		52,053,234
METAL MINING - 0.99%
73,522		Companhia Vale do Rio Doce (ADR)		1,767,469
97,850		Energy Resources of Australia Ltd		933,438
757,086		Oxiana Ltd		1,777,427
145,240	*	Paladin Resources Ltd		443,494
129,521	v*	Polyus Gold Co (ADR)		2,152,639
169,000		PT International Nickel Indonesia Tbk		356,682
42,016		Rio Tinto Ltd		2,428,587
734,000	*	Toro Energy Ltd		248,123
58,551		Zinifex Ltd		435,875
		TOTAL METAL MINING		10,543,734
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.32%
2,215,985		Futuris Corp Ltd		3,457,368
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		3,457,368
NONDEPOSITORY INSTITUTIONS - 5.93%
492,243		Deutsche Postbank AG.		35,410,403
387,108		Hypo Real Estate Holding AG.		23,506,389
79,234		ICICI Bank Ltd		839,667
1,032,000		Orient Corp		3,376,355
		TOTAL NONDEPOSITORY INSTITUTIONS		63,132,814
NONMETALLIC MINERALS, EXCEPT FUELS - 0.24%
290,000		Itochu Corp		2,549,534
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		2,549,534
OIL AND GAS EXTRACTION - 1.79%
2,667,000		CNOOC Ltd		2,128,930
109	*	Inpex Holdings, Inc		963,041
4,956,000		PetroChina Co Ltd (Class H)		5,296,099
21,688		Petroleo Brasileiro S.A. (ADR)		1,936,955
104,300		Total S.A.		6,861,535
57,484		Woodside Petroleum Ltd		1,879,140
		TOTAL OIL AND GAS EXTRACTION		19,065,700
PAPER AND ALLIED PRODUCTS - 0.32%
829		Nippon Paper Group, Inc		3,393,885
		TOTAL PAPER AND ALLIED PRODUCTS		3,393,885
PETROLEUM AND COAL PRODUCTS - 1.90%
554,705		BP plc		6,468,645
359,847		ENI S.p.A.		10,596,524
93,199		Royal Dutch Shell plc (A Shares)		3,137,247
		TOTAL PETROLEUM AND COAL PRODUCTS		20,202,416
PRIMARY METAL INDUSTRIES - 1.31%
587,030		BHP Billiton plc		11,389,428
666,000		Nippon Steel Corp		2,522,661
		TOTAL PRIMARY METAL INDUSTRIES		13,912,089

14

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
RAILROAD TRANSPORTATION - 0.36%
513		East Japan Railway Co	$	3,814,460
		TOTAL RAILROAD TRANSPORTATION		3,814,460
REAL ESTATE - 1.00%
3,930		ORIX Corp		960,884
130,000		Sumitomo Realty & Development Co Ltd		3,206,928
500,000		Tokyo Tatemono Co Ltd		5,362,376
84,222		Westfield Group		1,084,385
		TOTAL REAL ESTATE		10,614,573
SECURITY AND COMMODITY BROKERS - 0.10%
20,423		Macquarie Bank Ltd		1,046,955
		TOTAL SECURITY AND COMMODITY BROKERS		1,046,955
STONE, CLAY, AND GLASS PRODUCTS - 2.47%
258,450		Holcim Ltd		19,768,788
127,000		Krosaki Harima Corp		514,377
279,000		NGK Insulators Ltd		3,265,555
881,000		Sumitomo Osaka Cement Co Ltd		2,712,785
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		26,261,505
TOBACCO PRODUCTS - 0.46%
1,361		Japan Tobacco, Inc		4,964,677
		TOTAL TOBACCO PRODUCTS		4,964,677
TRANSPORTATION EQUIPMENT - 7.48%
56,518		DaimlerChrysler AG.		2,791,664
2,849,424	*	Fiat S.p.A.		37,927,953
214,100		Honda Motor Co Ltd		6,798,609
11,080		Hyundai Motor Co		941,339
364,000		Keppel Corp Ltd		3,383,691
252,000		NHK Spring Co Ltd		2,903,241
427,000		NSK Ltd		3,544,793
88,100		Toyota Industries Corp		3,483,462
342,100		Toyota Motor Corp		17,925,723
		TOTAL TRANSPORTATION EQUIPMENT		79,700,475
TRUCKING AND WAREHOUSING - 3.67%
1,456,530		Deutsche Post AG.		39,035,730
		TOTAL TRUCKING AND WAREHOUSING		39,035,730
WHOLESALE TRADE-DURABLE GOODS - 1.38%
1,741,983	*	Hagemeyer NV		8,040,864
90,100		Riso Kagaku Corp		1,576,346
334,000		Sumitomo Corp		4,408,923
30,678		Wolseley plc		676,914
		TOTAL WHOLESALE TRADE-DURABLE GOODS		14,703,047
WHOLESALE TRADE-NONDURABLE GOODS - 0.13%
68,700		Mitsubishi Corp		1,373,219
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,373,219
		TOTAL COMMON STOCKS		1,053,176,514
		(Cost $914,283,493)

15

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
PRINCIPAL		COMPANY		VALUE
SHORT-TERM INVESTMENTS - 0.13%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.13%
$     1,340,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06	$	1,340,000
		TOTAL SHORT-TERM INVESTMENTS		1,340,000
		(Cost $1,339,637)
		TOTAL PORTFOLIO - 99.04%		1,054,516,514
		(Cost $915,623,130)
		OTHER ASSETS & LIABILITIES, NET - 0.96%		10,213,156
		NET ASSETS - 100.00%	$	1,064,729,670
	*	Non-income producing
	v	Security valued at fair value.
		ABBREVIATION:
		ADR - American Depository Receipt
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

16

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP GROWTH FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 98.45%
APPAREL AND ACCESSORY STORES - 0.65%
2,445	*	Chico's FAS, Inc	$	65,966
368	*	J Crew Group, Inc		10,102
		TOTAL APPAREL AND ACCESSORY STORES		76,068
APPAREL AND OTHER TEXTILE PRODUCTS - 0.68%
1,445		Polo Ralph Lauren Corp		79,331
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		79,331
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.33%
2,560		Lowe's Cos, Inc		155,315
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		155,315
BUSINESS SERVICES - 12.87%
5,651	*	Adobe Systems, Inc		171,564
2,003	*	Akamai Technologies, Inc		72,489
1,709	*	Cognizant Technology Solutions Corp		115,135
5,618	*	eBay, Inc		164,551
3,321	*	Electronic Arts, Inc		142,936
852	*	Google, Inc (Class A)		357,269
6,352		Microsoft Corp		148,002
1,723	*	Red Hat, Inc		40,318
2,256		SAP AG. (ADR)		118,485
5,347	*	Yahoo!, Inc		176,451
		TOTAL BUSINESS SERVICES		1,507,200
CHEMICALS AND ALLIED PRODUCTS - 11.02%
5,624		Abbott Laboratories		245,263
4,078	*	Amgen, Inc		266,008
942		Eli Lilly & Co		52,064
1,926	*	Genzyme Corp		117,582
1,626	*	Gilead Sciences, Inc		96,194
1,622		Monsanto Co		136,556
2,281	*	Sepracor, Inc		130,336
3,300		Teva Pharmaceutical Industries Ltd (ADR)		104,247
3,203		Wyeth		142,245
		TOTAL CHEMICALS AND ALLIED PRODUCTS		1,290,495
COAL MINING - 0.43%
908		Peabody Energy Corp		50,621
		TOTAL COAL MINING		50,621
COMMUNICATIONS - 3.20%
2,209		America Movil S.A. de C.V. (ADR)		73,471
5,416		AT&T, Inc		151,052
2,463		Sprint Nextel Corp		49,235

17

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
2,814	*	Univision Communications, Inc (Class A)	$	94,269
200	*	Viacom, Inc		7,168
		TOTAL COMMUNICATIONS		375,195
EATING AND DRINKING PLACES - 1.08%
3,355	*	Starbucks Corp		126,685
		TOTAL EATING AND DRINKING PLACES		126,685
ELECTRIC, GAS, AND SANITARY SERVICES - 0.72%
3,294		Fortum Oyj		84,237
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		84,237
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 14.09%
2,214	*	Broadcom Corp (Class A)		66,531
11,051	*	Cisco Systems, Inc		215,826
1,128		Cooper Industries Ltd (Class A)		104,814
2,290		Emerson Electric Co		191,925
1,163		Harman International Industries, Inc		99,285
8,523		Intel Corp		161,511
454		Linear Technology Corp		15,205
35,693	*	Lucent Technologies, Inc		86,377
2,307	*	Marvell Technology Group Ltd		102,269
5,321		Motorola, Inc		107,218
4,104	*	Network Appliance, Inc		144,871
300	*	Nvidia Corp		6,387
6,896		Qualcomm, Inc		276,323
2,349		Texas Instruments, Inc		71,151
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		1,649,693
ENGINEERING AND MANAGEMENT SERVICES - 2.39%
1,680	*	Celgene Corp		79,682
2,015	*	Keryx Biopharmaceuticals, Inc		28,613
4,402		Paychex, Inc		171,590
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		279,885
FOOD AND KINDRED PRODUCTS - 2.30%
4,483		PepsiCo, Inc		269,159
		TOTAL FOOD AND KINDRED PRODUCTS		269,159
FURNITURE AND HOMEFURNISHINGS STORES - 0.87%
3,082	*	Bed Bath & Beyond, Inc		102,230
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		102,230
GENERAL MERCHANDISE STORES - 2.51%
3,664		Target Corp		179,060
2,371		Wal-Mart Stores, Inc		114,211
		TOTAL GENERAL MERCHANDISE STORES		293,271
HEALTH SERVICES - 1.33%
801		Caremark Rx, Inc		39,946
2,012	*	Medco Health Solutions, Inc		115,247
		TOTAL HEALTH SERVICES		155,193

18

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
HOLDING AND OTHER INVESTMENT OFFICES - 3.52%
490		Alcon, Inc	$	48,290
29		Hugoton Royalty Trust		861
7,177		iShares Russell 1000 Growth Index Fund		363,013
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		412,164
HOTELS AND OTHER LODGING PLACES - 1.20%
2,331		Starwood Hotels & Resorts Worldwide, Inc		140,653
		TOTAL HOTELS AND OTHER LODGING PLACES		140,653
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.63%
867	*	Alstom RGPT		79,209
2,520	*	Apple Computer, Inc		143,942
3,423		Applied Materials, Inc		55,726
1,096		Caterpillar, Inc		81,630
355		Deere & Co		29,639
873	*	Rackable Systems, Inc		34,475
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		424,621
INSTRUMENTS AND RELATED PRODUCTS - 3.69%
2,269	*	Advanced Medical Optics, Inc		115,039
1,349		Medtronic, Inc		63,295
3,717	*	St. Jude Medical, Inc		120,505
2,350	*	Zimmer Holdings, Inc		133,292
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		432,131
INSURANCE CARRIERS - 2.61%
4,550		Aetna, Inc		181,682
4,808		Progressive Corp		123,614
		TOTAL INSURANCE CARRIERS		305,296
LEATHER AND LEATHER PRODUCTS - 0.96%
3,747	*	Coach, Inc		112,035
		TOTAL LEATHER AND LEATHER PRODUCTS		112,035
METAL MINING - 0.50%
2,428		Companhia Vale do Rio Doce (ADR)		58,369
		TOTAL METAL MINING		58,369
MISCELLANEOUS RETAIL - 1.93%
7,376		CVS Corp		226,443
		TOTAL MISCELLANEOUS RETAIL		226,443
MOTION PICTURES - 0.52%
2,040		Walt Disney Co		61,200
		TOTAL MOTION PICTURES		61,200
NONDEPOSITORY INSTITUTIONS - 2.26%
4,972		American Express Co		264,610
		TOTAL NONDEPOSITORY INSTITUTIONS		264,610
OIL AND GAS EXTRACTION - 3.44%
1,939		Halliburton Co		143,893
752		Noble Energy, Inc		35,239
2,095		Schlumberger Ltd		136,405

19

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
1,967		XTO Energy, Inc	$	87,079
		TOTAL OIL AND GAS EXTRACTION		402,616
PETROLEUM AND COAL PRODUCTS - 0.53%
896		EOG Resources, Inc		62,129
		TOTAL PETROLEUM AND COAL PRODUCTS		62,129
PRIMARY METAL INDUSTRIES - 2.05%
9,914	*	Corning, Inc		239,820
		TOTAL PRIMARY METAL INDUSTRIES		239,820
SECURITY AND COMMODITY BROKERS - 6.05%
11,862		Charles Schwab Corp		189,555
337		Chicago Mercantile Exchange Holdings, Inc		165,518
3,642	*	E*Trade Financial Corp		83,110
806		Goldman Sachs Group, Inc		121,247
1,305		Merrill Lynch & Co, Inc		90,776
3,921		TD Ameritrade Holding Corp		58,070
		TOTAL SECURITY AND COMMODITY BROKERS		708,276
TOBACCO PRODUCTS - 2.21%
3,518		Altria Group, Inc		258,327
		TOTAL TOBACCO PRODUCTS		258,327
TRANSPORTATION BY AIR - 0.46%
3,320		Southwest Airlines Co		54,348
		TOTAL TRANSPORTATION BY AIR		54,348
TRANSPORTATION EQUIPMENT - 4.02%
2,486		Boeing Co		203,628
4,211		United Technologies Corp		267,062
		TOTAL TRANSPORTATION EQUIPMENT		470,690
TRANSPORTATION SERVICES - 0.94%
2,066		CH Robinson Worldwide, Inc		110,118
		TOTAL TRANSPORTATION SERVICES		110,118
TRUCKING AND WAREHOUSING - 1.77%
2,521		United Parcel Service, Inc (Class B)		207,554
		TOTAL TRUCKING AND WAREHOUSING		207,554
WHOLESALE TRADE-DURABLE GOODS - 0.69%
2,093		General Electric Co		68,985
168	*	WESCO International, Inc		11,592
		TOTAL WHOLESALE TRADE-DURABLE GOODS		80,577
		TOTAL COMMON STOCKS		11,526,555
		(Cost $12,021,484)
PRINCIPAL
SHORT-TERM INVESTMENTS - 1.54%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.54%
$     180,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		180,000

20

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
				VALUE
		TOTAL SHORT-TERM INVESTMENTS	$	180,000
		(Cost $179,951)
		TOTAL PORTFOLIO - 99.99%		11,706,555
		(Cost $12,201,435)
		OTHER ASSETS & LIABILITIES, NET - 0.01%		1,432
		NET ASSETS - 100.00%	$	11,707,987
	*	Non-income producing
		ABBREVIATION:
		ADR - American Depository Receipt
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

21

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP VALUE FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 99.70%
APPAREL AND ACCESSORY STORES - 2.29%
799,954		Gap, Inc	$	13,919,200
		TOTAL APPAREL AND ACCESSORY STORES		13,919,200
APPAREL AND OTHER TEXTILE PRODUCTS - 0.07%
5,017		Liz Claiborne, Inc		185,930
3,851		VF Corp		261,560
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		447,490
BUSINESS SERVICES - 2.26%
115,579	*	DynCorp International, Inc		1,199,710
101,109	*	Interpublic Group of Cos, Inc		844,260
482,980	*	Novell, Inc		3,202,157
199,828	*	Redback Networks, Inc		3,664,846
152,178	*	United Rentals, Inc		4,866,652
		TOTAL BUSINESS SERVICES		13,777,625
CHEMICALS AND ALLIED PRODUCTS - 6.50%
82,044		Bristol-Myers Squibb Co		2,121,658
140,115		Colgate-Palmolive Co		8,392,888
65,356		Du Pont (E.I.) de Nemours & Co		2,718,810
224,945	*	Hercules, Inc		3,432,661
245,579		Pfizer, Inc		5,763,739
84,492	*	Sepracor, Inc		4,827,873
95,641		Teva Pharmaceutical Industries Ltd (ADR)		3,021,299
48,198		Unilever plc		1,083,998
99,683		Unilever plc (ADR)		2,246,855
134,721		Wyeth		5,982,960
		TOTAL CHEMICALS AND ALLIED PRODUCTS		39,592,741
COAL MINING - 0.95%
150,205		Sasol Ltd (ADR)		5,803,921
		TOTAL COAL MINING		5,803,921
COMMUNICATIONS - 4.66%
429,575		AT&T, Inc		11,980,847
135,148		BellSouth Corp		4,892,358
3,955	*	Liberty Media Holding Corp (Capital)		331,310
19,773	*	Liberty Media Holding Corp (Interactive)		341,282
87,489	*	Qwest Communications International, Inc		707,786
399,951		Sprint Nextel Corp		7,995,020
379,010		Telecom Corp of New Zealand Ltd		934,262
29,133		Verizon Communications, Inc		975,664
6,352	*	Viacom, Inc		227,656
		TOTAL COMMUNICATIONS		28,386,185

22

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
DEPOSITORY INSTITUTIONS - 18.37%
454,083		Bank of America Corp	$	21,841,392
194,167		Bank of New York Co, Inc		6,252,177
94,772		Citigroup, Inc		4,571,801
28,209		Compass Bancshares, Inc		1,568,420
670,967		Hudson City Bancorp, Inc		8,943,990
79,797		ICICI Bank Ltd (ADR)		1,887,199
546,197		JPMorgan Chase & Co		22,940,274
85,028		Marshall & Ilsley Corp		3,889,181
721		National City Corp		26,093
182,058		South Financial Group, Inc		4,808,152
163,288		SunTrust Banks, Inc		12,452,343
57,258		TCF Financial Corp		1,514,474
135,633		US Bancorp		4,188,347
14,909		Wachovia Corp		806,279
143,829		Washington Mutual, Inc		6,555,726
142,779		Wells Fargo & Co		9,577,615
		TOTAL DEPOSITORY INSTITUTIONS		111,823,463
EATING AND DRINKING PLACES - 1.82%
195,969		Brinker International, Inc		7,113,675
814,094		Compass Group plc		3,948,718
		TOTAL EATING AND DRINKING PLACES		11,062,393
ELECTRIC, GAS, AND SANITARY SERVICES - 4.61%
152,643		American Electric Power Co, Inc		5,228,023
10,316		Dominion Resources, Inc		771,534
242,449		DPL, Inc		6,497,633
30,734		Duke Energy Corp		902,657
40,438		Exelon Corp		2,298,091
55,912		FirstEnergy Corp		3,030,989
56,642		FPL Group, Inc		2,343,846
5,196		MDU Resources Group, Inc		190,226
72,613		Northeast Utilities		1,500,911
17,186	*	NRG Energy, Inc		828,021
35,222		PPL Corp		1,137,671
531,720	*	Sojitz Holdings Corp		2,102,414
38,435		Southern Co		1,231,842
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		28,063,858
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.01%
427,864	*	Atmel Corp		2,374,645
547,348	*	Brocade Communications Systems, Inc		3,360,717
607,238	*	Ciena Corp		2,920,815
343,042		Honeywell International, Inc		13,824,593
277,910	*	Infineon Technologies AG. (ADR)		3,101,476
1,822,776	*	JDS Uniphase Corp		4,611,623
31,126		L-3 Communications Holdings, Inc		2,347,523
288,711		RadioShack Corp		4,041,954
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		36,583,346
ENGINEERING AND MANAGEMENT SERVICES - 0.60%
199,267	*	Infrasource Services, Inc		3,628,652
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,628,652

23

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
FABRICATED METAL PRODUCTS - 0.59%
75,217		Illinois Tool Works, Inc	$	3,572,808
		TOTAL FABRICATED METAL PRODUCTS		3,572,808
FOOD AND KINDRED PRODUCTS - 0.20%
41,911	*	Smithfield Foods, Inc		1,208,294
		TOTAL FOOD AND KINDRED PRODUCTS		1,208,294
FOOD STORES - 1.43%
283,021		Supervalu, Inc		8,688,745
		TOTAL FOOD STORES		8,688,745
FORESTRY - 0.34%
53,987		Rayonier, Inc		2,046,647
		TOTAL FORESTRY		2,046,647
GENERAL BUILDING CONTRACTORS - 0.34%
469,800	*	Daikyo, Inc		2,071,287
		TOTAL GENERAL BUILDING CONTRACTORS		2,071,287
HEALTH SERVICES - 0.68%
1,082,534	*	Healthsouth Corp		4,167,756
		TOTAL HEALTH SERVICES		4,167,756
HOLDING AND OTHER INVESTMENT OFFICES - 1.32%
11		Cross Timbers Royalty Trust		495
116,473		New Century Financial Corp		5,328,640
76,548		Plum Creek Timber Co, Inc		2,717,454
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		8,046,589
HOTELS AND OTHER LODGING PLACES - 2.16%
190,091		Accor S.A.		11,567,216
217,800		Fujita Kanko, Inc		1,608,041
		TOTAL HOTELS AND OTHER LODGING PLACES		13,175,257
INDUSTRIAL MACHINERY AND EQUIPMENT - 2.92%
69,643	*	Alstom RGPT		6,362,551
467		Deere & Co		38,990
359,289		Hewlett-Packard Co		11,382,276
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		17,783,817
INSTRUMENTS AND RELATED PRODUCTS - 0.96%
120,485	*	Boston Scientific Corp		2,028,967
78,580	*	Eagle Test Systems, Inc		1,101,692
196,880	*	Teradyne, Inc		2,742,538
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		5,873,197
INSURANCE AGENTS, BROKERS AND SERVICE - 0.75%
66,312		AON Corp		2,308,984
83,820		Marsh & McLennan Cos, Inc		2,253,920
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		4,562,904

24

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
INSURANCE CARRIERS - 8.06%
1,377		Aegon NV	$	23,505
137,172		Aetna, Inc		5,477,278
171,493		American International Group, Inc		10,126,662
73,096		Aspen Insurance Holdings Ltd		1,702,406
113,881		Axis Capital Holdings Ltd		3,258,135
19,886		Everest Re Group Ltd		1,721,531
102,227		Max Re Capital Ltd		2,232,638
68,326	*	Molina Healthcare, Inc		2,599,804
198,733		Montpelier Re Holdings Ltd		3,436,094
79,443		PartnerRe Ltd		5,088,324
67,021		Platinum Underwriters Holdings Ltd		1,875,248
227,079		St. Paul Travelers Cos, Inc		10,123,182
22,888		XL Capital Ltd (Class A)		1,403,034
		TOTAL INSURANCE CARRIERS		49,067,841
METAL MINING - 1.25%
15,734	*	Barrick Gold Corp		465,726
70,344		Inco Ltd		4,635,670
19,262		MMC Norilsk Nickel (ADR)		2,504,060
		TOTAL METAL MINING		7,605,456
MISCELLANEOUS RETAIL - 2.89%
542,932	*	Rite Aid Corp		2,302,032
98,869	*	Sears Holdings Corp		15,308,876
		TOTAL MISCELLANEOUS RETAIL		17,610,908
MOTION PICTURES - 0.00%**
20		News Corp (Class A)		384
		TOTAL MOTION PICTURES		384
NONDEPOSITORY INSTITUTIONS - 2.48%
246,184		Fannie Mae		11,841,450
56,690		Freddie Mac		3,231,897
		TOTAL NONDEPOSITORY INSTITUTIONS		15,073,347
OIL AND GAS EXTRACTION - 3.05%
27,242		Anadarko Petroleum Corp		1,299,171
59,163		Apache Corp		4,037,875
34,164	*	Cheniere Energy, Inc		1,332,396
82,268		Devon Energy Corp		4,969,810
5,268		Equitable Resources, Inc		176,478
40,357		Noble Energy, Inc		1,891,129
53,141		Petroleo Brasileiro S.A. (ADR)		4,746,023
2,189		Pogo Producing Co		100,913
		TOTAL OIL AND GAS EXTRACTION		18,553,795
PAPER AND ALLIED PRODUCTS - 0.65%
12,893	*	Smurfit-Stone Container Corp		141,049
89,450		Temple-Inland, Inc		3,834,722
		TOTAL PAPER AND ALLIED PRODUCTS		3,975,771
PETROLEUM AND COAL PRODUCTS - 6.11%
255,100		Chevron Corp		15,831,506
47,782		ConocoPhillips		3,131,154

25

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
127,309		Exxon Mobil Corp	$	7,810,407
22,111		Marathon Oil Corp		1,841,846
30,948		Occidental Petroleum Corp		3,173,717
81,448		Valero Energy Corp		5,417,921
		TOTAL PETROLEUM AND COAL PRODUCTS		37,206,551
PRINTING AND PUBLISHING - 0.60%
55,188		Gannett Co, Inc		3,086,665
17,803		Tribune Co		577,351
		TOTAL PRINTING AND PUBLISHING		3,664,016
SECURITY AND COMMODITY BROKERS - 4.68%
3,638		Janus Capital Group, Inc		65,120
505		Merrill Lynch & Co, Inc		35,128
303,349		Morgan Stanley		19,174,690
177,750		Nomura Holdings, Inc		3,335,291
287,398		Waddell & Reed Financial, Inc (Class A)		5,908,903
		TOTAL SECURITY AND COMMODITY BROKERS		28,519,132
STONE, CLAY, AND GLASS PRODUCTS - 1.03%
245,988	*	Owens-Illinois, Inc		4,122,759
174,579		Rinker Group Ltd		2,125,839
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		6,248,598
TOBACCO PRODUCTS - 3.66%
303,080		Altria Group, Inc		22,255,164
		TOTAL TOBACCO PRODUCTS		22,255,164
TRANSPORTATION BY AIR - 1.41%
163,241	*	Airtran Holdings, Inc		2,425,761
304,893	*	JetBlue Airways Corp		3,701,401
48,944	*	US Airways Group, Inc		2,473,630
		TOTAL TRANSPORTATION BY AIR		8,600,792
TRANSPORTATION EQUIPMENT - 0.09%
7,982	*	Magna International, Inc (Class A)		574,465
		TOTAL TRANSPORTATION EQUIPMENT		574,465
TRANSPORTATION SERVICES - 0.47%
128,037		Lear Corp		2,843,702
		TOTAL TRANSPORTATION SERVICES		2,843,702
TRUCKING AND WAREHOUSING - 0.64%
93,183	*	YRC Worldwide, Inc		3,923,936
		TOTAL TRUCKING AND WAREHOUSING		3,923,936
WHOLESALE TRADE-DURABLE GOODS - 0.64%
81,664		Omnicare, Inc		3,872,507
		TOTAL WHOLESALE TRADE-DURABLE GOODS		3,872,507
WHOLESALE TRADE-NONDURABLE GOODS - 2.16%
83,684		Akzo Nobel NV		4,511,226
123,248		Cardinal Health, Inc		7,928,544
19,720	*	Dean Foods Co		733,387
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		13,173,157

26

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
				VALUE
		TOTAL COMMON STOCKS	$	607,055,697
		(Cost $560,063,725)
		TOTAL PORTFOLIO - 99.70%		607,055,697
		(Cost $560,063,725)
		OTHER ASSETS & LIABILITIES, NET - 0.30%		1,817,086
		NET ASSETS - 100.00%	$	608,872,783
	*	Non-income producing
	**	Percentage represents less than 0.01%
		ABBREVIATION:
		ADR - American Depository Receipt
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

27

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP GROWTH FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 100.59%
APPAREL AND ACCESSORY STORES - 1.00%
82,300		American Eagle Outfitters, Inc	$	2,801,492
		TOTAL APPAREL AND ACCESSORY STORES		2,801,492
APPAREL AND OTHER TEXTILE PRODUCTS - 0.58%
29,729		Polo Ralph Lauren Corp		1,632,122
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,632,122
BUSINESS SERVICES - 13.72%
84,286	*	Adobe Systems, Inc		2,558,923
83,300	*	Akamai Technologies, Inc		3,014,627
105,900	*	aQuantive, Inc		2,682,447
52,233	*	Autodesk, Inc		1,799,949
64,061	*	Cerner Corp		2,377,304
79,910	*	ChoicePoint, Inc		3,337,841
82,800	*	Citrix Systems, Inc		3,323,592
57,695	*	Cognizant Technology Solutions Corp		3,886,912
51,394	*	F5 Networks, Inc		2,748,551
17,412	*	Focus Media Holding Ltd (ADR)		1,134,566
44,680	*	H&E Equipment Services, Inc		1,315,826
6,914	*	Kinetic Concepts, Inc		305,253
50,091	*	Monster Worldwide, Inc		2,136,882
27,002		Omnicom Group, Inc		2,405,608
82,700	*	Red Hat, Inc		1,935,180
39,500		Robert Half International, Inc		1,659,000
41,279	*	Salesforce.com, Inc		1,100,498
30,156	*	Sohu.com, Inc		777,723
		TOTAL BUSINESS SERVICES		38,500,682
CHEMICALS AND ALLIED PRODUCTS - 4.75%
87,154	*	Adams Respiratory Therapeutics, Inc		3,888,811
87,640		Ecolab, Inc		3,556,431
69,698	*	Forest Laboratories, Inc		2,696,616
34,699	*	Genzyme Corp		2,118,374
39,598	*	Medimmune, Inc		1,073,106
		TOTAL CHEMICALS AND ALLIED PRODUCTS		13,333,338
COAL MINING - 2.26%
72,408		Consol Energy, Inc		3,382,902
52,858		Peabody Energy Corp		2,946,833
		TOTAL COAL MINING		6,329,735
COMMUNICATIONS - 6.77%
97,807	*	American Tower Corp (Class A)		3,043,754
44,346		Global Payments, Inc		2,152,998
130,725	*	NeuStar, Inc		4,411,969

28

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
85,496	*	NII Holdings, Inc (Class B)	$	4,820,264
136,792	*	Univision Communications, Inc (Class A)		4,582,532
		TOTAL COMMUNICATIONS		19,011,517
DEPOSITORY INSTITUTIONS - 2.44%
353,205		Hudson City Bancorp, Inc		4,708,223
38,900		Northern Trust Corp		2,151,170
		TOTAL DEPOSITORY INSTITUTIONS		6,859,393
EATING AND DRINKING PLACES - 1.05%
58,900		Yum! Brands, Inc		2,960,903
		TOTAL EATING AND DRINKING PLACES		2,960,903
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 11.60%
85,843		Amphenol Corp (Class A)		4,803,774
68,040		Analog Devices, Inc		2,186,806
72,546	*	Avnet, Inc		1,452,371
38,845	*	Comverse Technology, Inc		767,966
76,155	*	Cypress Semiconductor Corp		1,107,294
34,850	*	Fairchild Semiconductor International, Inc		633,224
419,915	*	JDS Uniphase Corp		1,062,385
32,109		L-3 Communications Holdings, Inc		2,421,661
44,809		Linear Technology Corp		1,500,653
519,200	*	Lucent Technologies, Inc		1,256,464
49,100		Maxim Integrated Products, Inc		1,576,601
103,103	*	Network Appliance, Inc		3,639,536
134,262	*	Nvidia Corp		2,858,438
54,395		Rockwell Collins, Inc		3,039,049
30,890	*	Silicon Laboratories, Inc		1,085,783
51,550	*	Thomas & Betts Corp		2,644,515
22,451		Xilinx, Inc		508,515
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		32,545,035
ENGINEERING AND MANAGEMENT SERVICES - 6.16%
63,758	*	Celgene Corp		3,024,042
12,978		Corporate Executive Board Co		1,300,396
76,700	*	Infrasource Services, Inc		1,396,707
37,398	*	Jacobs Engineering Group, Inc		2,978,377
85,399		Paychex, Inc		3,328,853
87,631		Quest Diagnostics, Inc		5,250,849
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		17,279,224
FOOD AND KINDRED PRODUCTS - 1.80%
14,900	*	Hansen Natural Corp		2,836,513
46,462		McCormick & Co, Inc		1,558,800
20,437		Pepsi Bottling Group, Inc		657,050
		TOTAL FOOD AND KINDRED PRODUCTS		5,052,363
FURNITURE AND FIXTURES - 0.90%
98,128		Herman Miller, Inc		2,528,759
		TOTAL FURNITURE AND FIXTURES		2,528,759
FURNITURE AND HOMEFURNISHINGS STORES - 2.76%
72,269	*	Bed Bath & Beyond, Inc		2,397,163

29

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
117,432		Circuit City Stores, Inc	$	3,196,499
51,062	*	GameStop Corp		2,144,604
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		7,738,266
GENERAL MERCHANDISE STORES - 1.04%
43,150		JC Penney Co, Inc		2,913,056
		TOTAL GENERAL MERCHANDISE STORES		2,913,056
HEALTH SERVICES - 2.79%
19,802	*	Coventry Health Care, Inc		1,087,922
78,310	*	DaVita, Inc		3,892,007
60,939		Manor Care, Inc		2,859,258
		TOTAL HEALTH SERVICES		7,839,187
HOLDING AND OTHER INVESTMENT OFFICES - 0.43%
25,946		Global Signal, Inc		1,201,819
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		1,201,819
HOTELS AND OTHER LODGING PLACES - 3.29%
137,458		Hilton Hotels Corp		3,887,312
38,350		Starwood Hotels & Resorts Worldwide, Inc		2,314,039
44,621		Station Casinos, Inc		3,037,798
		TOTAL HOTELS AND OTHER LODGING PLACES		9,239,149
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.98%
90,094		International Game Technology		3,418,166
62,646	*	Netgear, Inc		1,356,286
22,798	*	Rackable Systems, Inc		900,293
36,010		Rockwell Automation, Inc		2,593,080
65,482		Smith International, Inc		2,911,985
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		11,179,810
INSTRUMENTS AND RELATED PRODUCTS - 7.77%
48,200	*	Advanced Medical Optics, Inc		2,443,740
57,572	*	Agilent Technologies, Inc		1,816,972
34,367		Allergan, Inc		3,686,204
39,480		Bard (C.R.), Inc		2,892,305
53,431	*	Fisher Scientific International, Inc		3,903,135
61,905		Kla-Tencor Corp		2,573,391
95,450	*	Resmed, Inc		4,481,377
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		21,797,124
LEATHER AND LEATHER PRODUCTS - 0.99%
93,394	*	Coach, Inc		2,792,481
		TOTAL LEATHER AND LEATHER PRODUCTS		2,792,481
METAL MINING - 1.21%
37,763		Freeport-McMoRan Copper & Gold, Inc (Class A)		2,092,448
14,600		Southern Copper Corp		1,301,298
		TOTAL METAL MINING		3,393,746
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.45%
17,946		Fortune Brands, Inc		1,274,345
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,274,345

30

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
MISCELLANEOUS RETAIL - 2.68%
70,550	*	Nutri/System, Inc	$	4,383,272
60,150	*	Office Depot, Inc		2,285,700
32,807		Petsmart, Inc		839,859
		TOTAL MISCELLANEOUS RETAIL		7,508,831
OIL AND GAS EXTRACTION - 7.10%
86,004		BJ Services Co		3,204,509
67,459		ENSCO International, Inc		3,104,463
69,174		Equitable Resources, Inc		2,317,329
21,003		GlobalSantaFe Corp		1,212,923
48,142	*	National Oilwell Varco, Inc		3,048,351
59,036		Noble Energy, Inc		2,766,427
53,010	*	Southwestern Energy Co		1,651,792
59,101		XTO Energy, Inc		2,616,401
		TOTAL OIL AND GAS EXTRACTION		19,922,195
PETROLEUM AND COAL PRODUCTS - 0.74%
30,082		Sunoco, Inc		2,084,382
		TOTAL PETROLEUM AND COAL PRODUCTS		2,084,382
PRINTING AND PUBLISHING - 0.42%
33,600		Dow Jones & Co, Inc		1,176,336
		TOTAL PRINTING AND PUBLISHING		1,176,336
RAILROAD TRANSPORTATION - 0.73%
28,970		CSX Corp		2,040,647
		TOTAL RAILROAD TRANSPORTATION		2,040,647
REAL ESTATE - 1.13%
127,071	*	CB Richard Ellis Group, Inc		3,164,068
		TOTAL REAL ESTATE		3,164,068
SECURITY AND COMMODITY BROKERS - 3.37%
11,562		Chicago Mercantile Exchange Holdings, Inc		5,678,676
50,345		Greenhill & Co, Inc		3,058,962
18,736		T Rowe Price Group, Inc		708,408
		TOTAL SECURITY AND COMMODITY BROKERS		9,446,046
TRANSPORTATION BY AIR - 1.04%
178,979		Southwest Airlines Co		2,929,886
		TOTAL TRANSPORTATION BY AIR		2,929,886
TRANSPORTATION EQUIPMENT - 1.64%
22,500		ITT Industries, Inc		1,113,750
19,300		Textron, Inc		1,779,074
71,010	*	TransDigm Group, Inc		1,700,690
		TOTAL TRANSPORTATION EQUIPMENT		4,593,514
TRANSPORTATION SERVICES - 2.02%
55,038		CH Robinson Worldwide, Inc		2,933,525
48,662		Expeditors International Washington, Inc		2,725,559
		TOTAL TRANSPORTATION SERVICES		5,659,084

31

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
WHOLESALE TRADE-DURABLE GOODS - 1.98%
37,714	*	Cytyc Corp	$	956,427
61,700		Omnicare, Inc		2,925,814
24,450	*	WESCO International, Inc		1,687,050
		TOTAL WHOLESALE TRADE-DURABLE GOODS		5,569,291
		TOTAL COMMON STOCKS		282,297,826
		(Cost $257,553,768)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.09%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.09%
$     260,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		260,000
		TOTAL SHORT-TERM INVESTMENTS		260,000
		(Cost $259,930)
		TOTAL PORTFOLIO - 100.68%		282,557,826
		(Cost $257,813,698)
		OTHER ASSETS & LIABILITIES, NET - (0.68%)		(1,912,298	)
		NET ASSETS - 100.00%	$	280,645,528
	*	Non-income producing
		ABBREVIATION:
		ADR - American Depositary Receipt
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

32

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP VALUE FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 99.49%
AMUSEMENT AND RECREATION SERVICES - 0.33%
20,500		Harrah's Entertainment, Inc	$	1,459,190
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,459,190
BUSINESS SERVICES - 3.64%
37,000		Accenture Ltd (Class A)		1,047,840
22,800	*	Affiliated Computer Services, Inc (Class A)		1,176,708
31,000		Automatic Data Processing, Inc		1,405,850
160,000	*	BearingPoint, Inc		1,339,200
100,000	*	DynCorp International, Inc		1,038,000
29,000		First Data Corp		1,306,160
135,000	*	Interpublic Group of Cos, Inc		1,127,250
48,000	*	Mercury Interactive Corp		1,678,560
212,000	*	Novell, Inc		1,405,560
48,000	*	Redback Networks, Inc		880,320
51,000	*	United Rentals, Inc		1,630,980
59,000		Waste Management, Inc		2,116,920
		TOTAL BUSINESS SERVICES		16,153,348
CHEMICALS AND ALLIED PRODUCTS - 7.34%
86,000		Alberto-Culver Co		4,189,920
55,000	*	Andrx Corp		1,275,450
47,000	*	Biogen Idec, Inc		2,177,510
30,000		Celanese Corp (Series A)		612,600
67,500		Clorox Co		4,115,475
68,000		Cytec Industries, Inc		3,648,880
52,000		Georgia Gulf Corp		1,301,040
100,000	*	Hercules, Inc		1,526,000
40,000		PPG Industries, Inc		2,640,000
43,000		Rohm & Haas Co		2,155,160
47,300	*	Sepracor, Inc		2,702,722
39,000		Sigma-Aldrich Corp		2,832,960
78,000		Valspar Corp		2,059,980
57,000	*	Watson Pharmaceuticals, Inc		1,326,960
		TOTAL CHEMICALS AND ALLIED PRODUCTS		32,564,657
COMMUNICATIONS - 1.73%
54,000		Cablevision Systems Corp (Class A)		1,158,300
58,000		CBS Corp		1,568,900
22,000		CenturyTel, Inc		817,300
36,000	*	EchoStar Communications Corp (Class A)		1,109,160
67,000	*	IAC/InterActiveCorp		1,774,830
49,000		PanAmSat Holding Corp		1,224,020
		TOTAL COMMUNICATIONS		7,652,510

33

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
DEPOSITORY INSTITUTIONS - 11.51%
75,000		Astoria Financial Corp	$	2,283,750
132,000		Bank of New York Co, Inc		4,250,400
91,000		Colonial Bancgroup, Inc		2,336,880
55,500		Compass Bancshares, Inc		3,085,800
18,000		Cullen/Frost Bankers, Inc		1,031,400
850,000		Hudson City Bancorp, Inc		11,330,500
20,000		Interchange Financial Services Corp		450,000
50,000		Keycorp		1,784,000
126,000		Marshall & Ilsley Corp		5,763,240
88,000		Mellon Financial Corp		3,029,840
58,500		Mercantile Bankshares Corp		2,086,695
41,000		New York Community Bancorp, Inc		676,910
72,000		North Fork Bancorporation, Inc		2,172,240
122,000		South Financial Group, Inc		3,222,020
96,000		TCF Financial Corp		2,539,200
123,000		Valley National Bancorp		3,162,330
23,500		Zions Bancorporation		1,831,590
		TOTAL DEPOSITORY INSTITUTIONS		51,036,795
ELECTRIC, GAS, AND SANITARY SERVICES - 10.66%
81,000	*	Allegheny Energy, Inc		3,002,670
114,000		American Electric Power Co, Inc		3,904,500
60,000	*	CMS Energy Corp		776,400
59,500		Constellation Energy Group, Inc		3,243,940
70,000		DPL, Inc		1,876,000
165,000	*	Dynegy, Inc (Class A)		902,550
70,000		El Paso Corp		1,050,000
43,000		Energen Corp		1,651,630
60,000		Energy East Corp		1,435,800
47,500		Entergy Corp		3,360,625
37,500		FirstEnergy Corp		2,032,875
67,000		Fortum Oyj		1,713,391
70,000	*	Mirant Corp		1,876,000
50,000		National Fuel Gas Co		1,757,000
46,000		Northeast Utilities		950,820
15,000		NorthWestern Corp		515,250
74,000	*	NRG Energy, Inc		3,565,320
102,000		Pepco Holdings, Inc		2,405,160
35,000		PG&E Corp		1,374,800
100,000		PPL Corp		3,230,000
24,500		Questar Corp		1,972,005
11,500		TXU Corp		687,585
45,000		Williams Cos, Inc		1,051,200
153,000		Xcel Energy, Inc		2,934,540
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		47,270,061
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 4.67%
85,000	*	ADC Telecommunications, Inc		1,433,100
190,000	*	Atmel Corp		1,054,500
200,000	*	Brocade Communications Systems, Inc		1,228,000
60,000	*	Cypress Semiconductor Corp		872,400
77,000	*	Freescale Semiconductor, Inc (Class B)		2,263,800
255,000	*	Gemstar-TV Guide International, Inc		897,600
116,000	*	Infineon Technologies AG. (ADR)		1,294,560

34

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
980,000	*	JDS Uniphase Corp	$	2,479,400
19,000		L-3 Communications Holdings, Inc		1,432,980
65,000		Linear Technology Corp		2,176,850
1,200,000	*	Lucent Technologies, Inc		2,904,000
60,000	*	Micron Technology, Inc		903,600
55,000		RadioShack Corp		770,000
245,000	*	Sycamore Networks, Inc		994,700
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		20,705,490
FABRICATED METAL PRODUCTS - 1.31%
61,000		Ball Corp		2,259,440
228,000	*	Crown Holdings, Inc		3,549,960
		TOTAL FABRICATED METAL PRODUCTS		5,809,400
FOOD AND KINDRED PRODUCTS - 1.13%
41,000		Archer Daniels Midland Co		1,692,480
65,000		Coca-Cola Enterprises, Inc		1,324,050
69,000	*	Smithfield Foods, Inc		1,989,270
		TOTAL FOOD AND KINDRED PRODUCTS		5,005,800
FOOD STORES - 2.48%
356,000		Kroger Co		7,782,160
104,000		Supervalu, Inc		3,192,800
		TOTAL FOOD STORES		10,974,960
FORESTRY - 0.50%
58,000		Rayonier, Inc		2,198,780
		TOTAL FORESTRY		2,198,780
GENERAL BUILDING CONTRACTORS - 0.83%
42,000		Lennar Corp (Class A)		1,863,540
42,000		Ryland Group, Inc		1,829,940
		TOTAL GENERAL BUILDING CONTRACTORS		3,693,480
GENERAL MERCHANDISE STORES - 2.56%
141,000		Federated Department Stores, Inc		5,160,600
40,000		JC Penney Co, Inc		2,700,400
152,000		TJX Cos, Inc		3,474,720
		TOTAL GENERAL MERCHANDISE STORES		11,335,720
HEALTH SERVICES - 1.64%
511,654	*	Healthsouth Corp		1,969,868
84,000		McKesson Corp		3,971,520
18,600	*	WellPoint, Inc		1,353,522
		TOTAL HEALTH SERVICES		7,294,910
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.27%
43,000		Macquarie Infrastructure Co Trust		1,186,370
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		1,186,370
HOLDING AND OTHER INVESTMENT OFFICES - 11.47%
20,000		AMB Property Corp		1,011,000
50,000		Archstone-Smith Trust		2,543,500
33,500		Boston Properties, Inc		3,028,400

35

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
24,302	v	Crystal River Capital, Inc	$	607,550
51,000		Developers Diversified Realty Corp		2,661,180
47,000		Equity Residential		2,102,310
30,000		General Growth Properties, Inc		1,351,800
61,329	v*	GSC Capital Corp		1,533,225
159,318		iShares Russell Midcap Value Index Fund		21,057,060
44,000		iStar Financial, Inc		1,661,000
123,000		Plum Creek Timber Co, Inc		4,366,500
62,652		Prologis		3,265,422
15,000		Public Storage, Inc		1,138,500
38,000		Reckson Associates Realty Corp		1,572,440
52,500		Trizec Properties, Inc		1,503,600
15,000		Vornado Realty Trust		1,463,250
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		50,866,737
HOTELS AND OTHER LODGING PLACES - 1.38%
62,000		Accor S.A.		3,772,758
39,000		Starwood Hotels & Resorts Worldwide, Inc		2,353,260
		TOTAL HOTELS AND OTHER LODGING PLACES		6,126,018
INDUSTRIAL MACHINERY AND EQUIPMENT - 1.21%
47,000		American Standard Cos, Inc		2,033,690
21,000		Black & Decker Corp		1,773,660
33,000	*	Cameron International Corp		1,576,410
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		5,383,760
INSTRUMENTS AND RELATED PRODUCTS - 2.82%
87,000	*	Agilent Technologies, Inc		2,745,720
29,000	*	Mettler-Toledo International, Inc		1,756,530
35,000		Pitney Bowes, Inc		1,445,500
85,000	*	Teradyne, Inc		1,184,050
35,000	*	Waters Corp		1,554,000
274,000	*	Xerox Corp		3,811,340
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		12,497,140
INSURANCE AGENTS, BROKERS AND SERVICE - 1.10%
93,000		AON Corp		3,238,260
61,000		Marsh & McLennan Cos, Inc		1,640,290
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		4,878,550
INSURANCE CARRIERS - 6.56%
108,000		Aetna, Inc		4,312,440
77,000		Axis Capital Holdings Ltd		2,202,970
41,000	*	CNA Financial Corp		1,351,360
172,000	*	Conseco, Inc		3,973,200
106,000		Genworth Financial, Inc		3,693,040
87,000		Max Re Capital Ltd		1,900,080
47,500		PartnerRe Ltd		3,042,375
40,000		Safeco Corp		2,254,000
35,000		St. Paul Travelers Cos, Inc		1,560,300
115,000		UnumProvident Corp		2,084,950
44,000		XL Capital Ltd (Class A)		2,697,200
		TOTAL INSURANCE CARRIERS		29,071,915

36

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
METAL MINING - 2.19%
34,000	*	Barrick Gold Corp	$	1,006,400
54,000		Gold Fields Ltd (ADR)		1,236,600
225,000	*	Hecla Mining Co		1,181,250
57,500		Inco Ltd		3,789,250
25,500		Phelps Dodge Corp		2,095,080
7,000		Teck Cominco Ltd (Class B)		421,599
		TOTAL METAL MINING		9,730,179
MISCELLANEOUS RETAIL - 1.36%
53,000	*	Office Depot, Inc		2,014,000
604,000	*	Rite Aid Corp		2,560,960
9,500	*	Sears Holdings Corp		1,470,980
		TOTAL MISCELLANEOUS RETAIL		6,045,940
MOTION PICTURES - 0.16%
34,000		Regal Entertainment Group (Class A)		690,880
		TOTAL MOTION PICTURES		690,880
NONDEPOSITORY INSTITUTIONS - 0.42%
36,000		CIT Group, Inc		1,882,440
		TOTAL NONDEPOSITORY INSTITUTIONS		1,882,440
OIL AND GAS EXTRACTION - 1.50%
34,000	*	National Oilwell Varco, Inc		2,152,880
56,000		Noble Energy, Inc		2,624,160
60,000	*	Pride International, Inc		1,873,800
		TOTAL OIL AND GAS EXTRACTION		6,650,840
PAPER AND ALLIED PRODUCTS - 1.44%
49,000		Bowater, Inc		1,114,750
56,000		MeadWestvaco Corp		1,564,080
64,000		Temple-Inland, Inc		2,743,680
76,000		Wausau Paper Corp		946,200
		TOTAL PAPER AND ALLIED PRODUCTS		6,368,710
PETROLEUM AND COAL PRODUCTS - 2.13%
40,000		Hess Corp		2,114,000
88,400		Kerr-McGee Corp		6,130,540
14,700		Marathon Oil Corp		1,224,510
		TOTAL PETROLEUM AND COAL PRODUCTS		9,469,050
PRIMARY METAL INDUSTRIES - 1.02%
35,000		Nucor Corp		1,898,750
44,000		Precision Castparts Corp		2,629,440
		TOTAL PRIMARY METAL INDUSTRIES		4,528,190
PRINTING AND PUBLISHING - 1.70%
49,500		Gannett Co, Inc		2,768,535
45,000		Meredith Corp		2,229,300
79,000		Tribune Co		2,561,970
		TOTAL PRINTING AND PUBLISHING		7,559,805

37

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
RAILROAD TRANSPORTATION - 1.67%
58,000		CSX Corp	$	4,085,520
62,500		Norfolk Southern Corp		3,326,250
		TOTAL RAILROAD TRANSPORTATION		7,411,770
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.54%
92,000		Newell Rubbermaid, Inc		2,376,360
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		2,376,360
SECURITY AND COMMODITY BROKERS - 1.70%
31,800		Bear Stearns Cos, Inc		4,454,544
84,000		Janus Capital Group, Inc		1,503,600
77,000		Waddell & Reed Financial, Inc (Class A)		1,583,120
		TOTAL SECURITY AND COMMODITY BROKERS		7,541,264
SPECIAL TRADE CONTRACTORS - 0.33%
60,000		Chicago Bridge & Iron Co NV		1,449,000
		TOTAL SPECIAL TRADE CONTRACTORS		1,449,000
STONE, CLAY, AND GLASS PRODUCTS - 0.92%
120,000	*	Owens-Illinois, Inc		2,011,200
171,000		Rinker Group Ltd		2,082,258
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		4,093,458
TOBACCO PRODUCTS - 2.06%
177,500		Loews Corp (Carolina Group)		9,118,175
		TOTAL TOBACCO PRODUCTS		9,118,175
TRANSPORTATION BY AIR - 1.07%
80,000	*	ACE Aviation Holdings, Inc		2,240,806
45,000		Skywest, Inc		1,116,000
45,000	*	UAL Corp		1,395,900
		TOTAL TRANSPORTATION BY AIR		4,752,706
TRANSPORTATION EQUIPMENT - 1.74%
56,000		Autoliv, Inc		3,167,920
22,000		Empresa Brasileira de Aeronautica S.A. (ADR)		802,340
20,500		General Dynamics Corp		1,341,930
43,000	*	K&F Industries Holdings, Inc		762,390
11,300	*	Magna International, Inc (Class A)		813,261
17,500		Oshkosh Truck Corp		831,600
		TOTAL TRANSPORTATION EQUIPMENT		7,719,441
WATER TRANSPORTATION - 0.50%
118,000		Aries Maritime Transport Ltd		1,256,700
68,000	*	Omega Navigation Enterprises, Inc		980,560
		TOTAL WATER TRANSPORTATION		2,237,260
WHOLESALE TRADE-DURABLE GOODS - 1.06%
99,000		Omnicare, Inc		4,694,580
		TOTAL WHOLESALE TRADE-DURABLE GOODS		4,694,580
WHOLESALE TRADE-NONDURABLE GOODS - 0.84%
69,000		Akzo Nobel NV (ADR)		3,710,130
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		3,710,130

38

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
PRINCIPAL		COMPANY		VALUE
		TOTAL COMMON STOCKS	$	441,195,769
		(Cost $404,153,797)
SHORT-TERM INVESTMENTS - 0.47%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.47%
$     2,090,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		2,090,000
		TOTAL SHORT-TERM INVESTMENTS		2,090,000
		(Cost $2,089,435)
		TOTAL PORTFOLIO - 99.96%		443,285,769
		(Cost $406,243,232)
		OTHER ASSETS & LIABILITIES, NET - 0.04%		157,455
		NET ASSETS - 100.00%	$	443,443,224
	*	Non-income producing
	v	Security valued at fair value
		ABBREVIATION:
		ADR - American Depositary Receipt
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

39

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP EQUITY FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 99.22%
AGRICULTURAL PRODUCTION-CROPS - 0.17%
53,060		Chiquita Brands International, Inc	$	731,167
		TOTAL AGRICULTURAL PRODUCTION-CROPS		731,167
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.12%
400		Seaboard Corp		512,000
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		512,000
AMUSEMENT AND RECREATION SERVICES - 0.56%
1,050		Dover Downs Gaming & Entertainment, Inc		20,622
19,500	*	Live Nation, Inc		397,020
19,800	*	MTR Gaming Group, Inc		185,724
60,154	*	Multimedia Games, Inc		609,360
19,800	*	Pinnacle Entertainment, Inc		606,870
14,300		Speedway Motorsports, Inc		539,682
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,359,278
APPAREL AND ACCESSORY STORES - 2.65%
18,200	*	Aeropostale, Inc		525,798
23,700		Brown Shoe Co, Inc		807,696
6,200		Buckle, Inc		259,594
4,769	*	Cache, Inc		82,694
31,400	*	Carter's, Inc		829,902
18,000		Cato Corp (Class A)		465,300
17,600	*	Charlotte Russe Holding, Inc		421,344
71,800	*	Charming Shoppes, Inc		807,032
8,100	*	Children's Place Retail Stores, Inc		486,405
10,100		Christopher & Banks Corp		292,900
12,870	*	Citi Trends, Inc		549,420
11,086	*	Dress Barn, Inc		281,030
6,746		Finish Line, Inc (Class A)		79,805
38,500	*	New York & Co, Inc		376,145
42,773	*	Pacific Sunwear Of California, Inc		766,920
61,400	*	Payless Shoesource, Inc		1,668,238
7,381	*	Shoe Carnival, Inc		176,111
20,832		Stage Stores, Inc		687,456
32,900		Talbots, Inc		607,005
14,300	*	Too, Inc		548,977
1,700	*	Under Armour, Inc		72,454
87,699	*	Wilsons The Leather Experts, Inc		360,443
		TOTAL APPAREL AND ACCESSORY STORES		11,152,669
APPAREL AND OTHER TEXTILE PRODUCTS - 0.72%
6,500	*	Columbia Sportswear Co		294,190
9,600	*	Guess ?, Inc		400,800
17,100	*	Gymboree Corp		594,396

40

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
17,000		Kellwood Co	$	497,590
32,700		Phillips-Van Heusen Corp		1,247,832
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		3,034,808
AUTO REPAIR, SERVICES AND PARKING - 0.03%
8,300		Central Parking Corp		132,800
		TOTAL AUTO REPAIR, SERVICES AND PARKING		132,800
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.36%
40,500	*	CSK Auto Corp		484,785
20,700		Lithia Motors, Inc (Class A)		627,624
10,859		Sonic Automotive, Inc		240,853
8,006		United Auto Group, Inc		170,928
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,524,190
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.11%
10,831	*	Central Garden & Pet Co		466,275
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		466,275
BUSINESS SERVICES - 10.76%
95,900	*	3Com Corp		491,008
28,100		ABM Industries, Inc		480,510
30,686		Acxiom Corp		767,150
16,300		Administaff, Inc		583,703
16,746	*	Advent Software, Inc		604,028
22,011	*	Altiris, Inc		397,078
27,800	*	Ansoft Corp		569,344
5,310	*	Ansys, Inc		253,924
15,600	*	aQuantive, Inc		395,148
41,978	*	Arbinet-thexchange, Inc		235,497
21,800		Arbitron, Inc		835,594
88,000	*	Art Technology Group, Inc		262,240
28,360	*	Asset Acceptance Capital Corp		561,528
28,200	*	Avocent Corp		740,250
27,000	*	BearingPoint, Inc		225,990
12,265		Blackbaud, Inc		278,415
11,971	*	Blackboard, Inc		346,680
9,850	*	Blue Coat Systems, Inc		166,071
8,700		Brady Corp (Class A)		320,508
14,200		Catalina Marketing Corp		404,132
54,777	*	CBIZ, Inc		405,898
5,104	*	Click Commerce, Inc		100,702
414,500	*	CMGI, Inc		501,545
62,400	*	CNET Networks, Inc		497,952
6,650		Computer Programs & Systems, Inc		265,734
31,300	*	Convera Corp		210,336
20,334	*	Covansys Corp		255,598
27,185	*	CSG Systems International, Inc		672,557
25,900	*	Dendrite International, Inc		239,316
16,724	*	Digital Insight Corp		573,466
6,481	*	Digital River, Inc		261,768
45,780	*	Earthlink, Inc		396,455
17,100	*	eFunds Corp		377,055
23,978	*	Entrust, Inc		81,765

41

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
12,078	*	Epicor Software Corp	$	127,181
8,100		Factset Research Systems, Inc		383,130
11,000	*	Filenet Corp		296,230
9,200	*	Forrester Research, Inc		257,416
26,100		Gevity HR, Inc		692,955
22,400	*	Global Cash Access, Inc		350,112
7,800		Healthcare Services Group		163,410
24,764	*	Heidrick & Struggles International, Inc		838,014
16,800	*	Hyperion Solutions Corp		463,680
7,053	*	Infocrossing, Inc		81,462
64,000	*	Informatica Corp		842,240
15,710	*	Infospace, Inc		356,146
14,002		infoUSA, Inc		144,361
4,317	*	Innovative Solutions & Support, Inc		60,697
4,442	*	Intergraph Corp		139,879
232,000	*	Internap Network Services Corp		243,600
28,700	*	Internet Security Systems, Inc		540,995
8,400		Interpool, Inc		186,648
24,000	*	inVentiv Health, Inc		690,720
10,500		Jack Henry & Associates, Inc		206,430
22,500	*	JDA Software Group, Inc		315,675
8,581	*	Jupitermedia Corp		111,553
35,700	*	Keane, Inc		446,250
11,685		Kelly Services, Inc (Class A)		317,481
12,886	*	Keynote Systems, Inc		132,855
12,360	*	Kforce, Inc		191,456
14,615	*	Korn/Ferry International		286,308
28,698	*	Kronos, Inc		1,039,155
15,700	*	Labor Ready, Inc		355,605
164,300	*	Lawson Software, Inc		1,100,810
10,500	*	LoJack Corp		198,030
14,400	*	Mantech International Corp (Class A)		444,384
19,500	*	Mentor Graphics Corp		253,110
9,500	*	MicroStrategy, Inc		926,440
12,800		MoneyGram International, Inc		434,560
62,900	*	MPS Group, Inc		947,274
10,451	*	MRO Software, Inc		209,752
14,179	*	NCO Group, Inc		374,893
6,430	*	Ness Technologies, Inc		69,122
17,100	*	NetFlix, Inc		465,291
45,636	*	Packeteer, Inc		517,512
25,618	*	Parametric Technology Corp		325,605
28,900	*	Perot Systems Corp (Class A)		418,472
3,300	*	PRA International		73,491
55,766	*	Premiere Global Services, Inc		421,033
39,700	*	Progress Software Corp		929,377
1,312		QAD, Inc		10,168
14,600	*	Radisys Corp		320,616
42,842	*	RealNetworks, Inc		458,409
11,000	*	Rent-Way, Inc		81,180
15,200		Rollins, Inc		298,528
33,600	*	SonicWALL, Inc		302,064
23,700	*	Sotheby's Holdings, Inc (Class A)		622,125
108,800	*	Spherion Corp		992,256

42

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
6,246	*	SPSS, Inc	$	200,746
3,200	*	SSA Global Technologies, Inc		62,016
46,200	*	SYKES Enterprises, Inc		746,592
41,900		Talx Corp		916,353
32,144	*	TeleTech Holdings, Inc		406,943
9,800	*	THQ, Inc		211,680
165,327	*	TIBCO Software, Inc		1,165,555
17,300	*	TNS, Inc		357,937
5,700	*	Transaction Systems Architects, Inc		237,633
12,100	*	Travelzoo, Inc		367,114
57,805	*	Trizetto Group, Inc		854,936
23,767		United Online, Inc		285,204
11,100	*	Universal Compression Holdings, Inc		698,967
60,000	*	VA Software Corp		232,800
13,700	*	Valueclick, Inc		210,295
27,700	*	Vasco Data Security International		231,295
9,200	*	Verint Systems, Inc		268,548
15,800		Viad Corp		494,540
20,100	*	Vignette Corp		293,058
7,805	*	WebEx Communications, Inc		277,390
96,383	*	webMethods, Inc		951,300
17,616	*	Websense, Inc		361,833
30,200	*	Wind River Systems, Inc		268,780
		TOTAL BUSINESS SERVICES		45,316,606
CHEMICALS AND ALLIED PRODUCTS - 7.08%
15,246	*	Adams Respiratory Therapeutics, Inc		680,276
11,453	*	Adolor Corp		286,440
13,050	*	Albany Molecular Research, Inc		139,374
79,776	*	Alkermes, Inc		1,509,362
19,000	*	Alnylam Pharmaceuticals, Inc		286,520
41,400		Alpharma, Inc (Class A)		995,256
13,000		American Vanguard Corp		201,240
30,300	*	Andrx Corp		702,657
13,600		Arch Chemicals, Inc		490,280
28,800	*	Bentley Pharmaceuticals, Inc		315,648
18,100	*	BioCryst Pharmaceuticals, Inc		259,373
21,495	*	BioMarin Pharmaceuticals, Inc		308,883
14,400	*	Chattem, Inc		437,328
27,000	*	Combinatorx, Inc		237,330
49,800	*	Connetics Corp		585,648
15,700	*	Cubist Pharmaceuticals, Inc		395,326
3,600		Diagnostic Products Corp		209,412
15,000	*	Digene Corp		581,100
27,600	*	Emisphere Technologies, Inc		235,428
12,900		Ferro Corp		205,884
39,400		Georgia Gulf Corp		985,788
18,200		H.B. Fuller Co		792,974
27,400	*	Hana Biosciences, Inc		248,518
33,800	*	Hercules, Inc		515,788
2,250	*	Hi-Tech Pharmacal Co, Inc		37,282
38,487	*	Human Genome Sciences, Inc		411,811
23,000	*	Immucor, Inc		442,290
45,100	*	Indevus Pharmaceuticals, Inc		246,697

43

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
23,100		Koppers Holdings, Inc	$	461,769
36,900	*	KV Pharmaceutical Co (Class A)		688,554
56,000		Mannatech, Inc		706,160
30,484	*	Medicines Co		595,962
5,527		Meridian Bioscience, Inc		137,899
12,400	*	MGI Pharma, Inc		266,600
19,300	*	NBTY, Inc		461,463
10,791	*	Neurocrine Biosciences, Inc		114,385
11,000	*	New River Pharmaceuticals, Inc		313,500
11,900		NewMarket Corp		583,814
8,300		Olin Corp		148,819
11,500	*	OM Group, Inc		354,775
40,503	*	OraSure Technologies, Inc		385,589
44,509	*	Pain Therapeutics, Inc		371,650
45,900	*	Panacos Pharmaceuticals, Inc		253,368
13,100	*	Par Pharmaceutical Cos, Inc		241,826
60,700		Perrigo Co		977,270
32,078	*	Pharmion Corp		546,288
16,507	*	Pioneer Cos, Inc		450,311
95,000	*	PolyOne Corp		834,100
22,644	*	Pozen, Inc		159,414
25,900	*	Quidel Corp		246,050
28,600	*	Rockwood Holdings, Inc		658,086
40,100	*	Santarus, Inc		266,665
10,920	*	Sciele Pharma, Inc		253,235
26,206	*	Serologicals Corp		823,917
27,800	*	Solexa, Inc		236,300
10,500		Stepan Co		331,590
11,600		Stratagene Corp		71,572
44,000		UAP Holding Corp		959,640
16,526	*	United Therapeutics Corp		954,707
24,709	*	USANA Health Sciences, Inc		936,471
27,754	*	Vertex Pharmaceuticals, Inc		1,018,849
10,900		Westlake Chemical Corp		324,820
79,985	*	WR Grace & Co		935,824
		TOTAL CHEMICALS AND ALLIED PRODUCTS		29,815,155
COAL MINING - 0.75%
47,800	*	Alpha Natural Resources, Inc		937,836
11,600		Foundation Coal Holdings, Inc		544,388
44,700	*	International Coal Group, Inc		321,393
19,157		Penn Virginia Corp		1,338,691
		TOTAL COAL MINING		3,142,308
COMMUNICATIONS - 2.12%
5,200		Anixter International, Inc		246,792
11,137	*	Audiovox Corp (Class A)		152,131
9,729	*	Brightpoint, Inc		131,633
40,337		Centennial Communications Corp		209,752
39,700	*	Cincinnati Bell, Inc		162,770
45,000		Citadel Broadcasting Corp		400,500
140,600	*	Covad Communications Group, Inc		282,606
13,500		CT Communications, Inc		308,745
23,900	*	Dobson Communications Corp (Class A)		184,747

44

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
18,400		Entercom Communications Corp	$	481,344
14,400	*	Eschelon Telecom, Inc		222,768
27,100	*	First Avenue Networks, Inc		294,848
82,400	*	Foundry Networks, Inc		878,384
61,500	*	General Communication, Inc (Class A)		757,680
3,454		Golden Telecom, Inc		87,559
15,700		Gray Television, Inc		90,903
93,700	*	Level 3 Communications, Inc		416,028
10,500	*	Mastec, Inc		138,705
14,700	*	NeuStar, Inc		496,125
17,125	*	Novatel Wireless, Inc		177,758
3	v*	RCN Corp Wts		(0	)
13,100	*	Saga Communications, Inc (Class A)		118,686
9,247		Salem Communications Corp (Class A)		120,303
21,688	*	SBA Communications Corp		566,924
472		Shenandoah Telecom Co		22,184
31,200	*	Syniverse Holdings, Inc		458,640
26,586	*	Talk America Holdings, Inc		164,567
51,946	*	Ubiquitel, Inc		537,122
44,400		Valor Communications Group, Inc		508,380
27,400	*	Vonage Holdings Corp		235,366
23,340	*	Wireless Facilities, Inc		64,185
		TOTAL COMMUNICATIONS		8,918,135
DEPOSITORY INSTITUTIONS - 9.65%
5,037		1st Source Corp		170,402
6,161		Amcore Financial, Inc		180,579
15,231		Anchor Bancorp Wisconsin, Inc		459,519
17,960		Bancfirst Corp		803,710
12,300		Bancorpsouth, Inc		335,175
17,772		Bank Mutual Corp		217,174
13,932		Bank of Granite Corp		290,203
26,236		Boston Private Financial Holdings, Inc		731,984
7,800		Cadence Financial Corp		173,706
2,898	*	Capital Crossing Bank		71,291
7,200		Capitol Bancorp Ltd		280,440
11,600		Cathay General Bancorp		422,008
13,816	*	Centennial Bank Holdings, Inc		142,857
6,984		Center Financial Corp		165,102
21,600		Central Pacific Financial Corp		835,920
8,426		Chemical Financial Corp		257,836
29,900		Chittenden Corp		772,915
49,668		Citizens Banking Corp		1,212,396
22,993		City Holding Co		830,967
1		Coastal Financial Corp		13
1,900	*	Community Bancorp		59,052
23,600		Community Bank System, Inc		476,012
13,677		Community Trust Bancorp, Inc		477,738
33,500		Corus Bankshares, Inc		877,030
6,400		Downey Financial Corp		434,240
23,411	*	EuroBancshares, Inc		226,384
20,000		First Bancorp		186,000
2,300		First Citizens Bancshares, Inc (Class A)		461,150
23,057		First Community Bancorp, Inc		1,362,207

45

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
400		First Community Bancshares, Inc	$	13,196
8,367		First Financial Holdings, Inc		267,744
7,099		First Midwest Bancorp, Inc		263,231
115,764		First Niagara Financial Group, Inc		1,623,011
2,743	*	First Regional Bancorp		241,384
6,500		First Republic Bank		297,700
25,500	*	FirstFed Financial Corp		1,470,585
21,900		FirstMerit Corp		458,586
9,300		Flag Financial Corp		180,885
39,600		Flagstar Bancorp, Inc		632,016
6,549		FNB Corp		242,313
25,593	*	Franklin Bank Corp		516,723
10,500		Fremont General Corp		194,880
1,817		Fulton Financial Corp		28,927
41,400		Greater Bay Bancorp		1,190,250
56,800		Hanmi Financial Corp		1,104,192
4,600		Independent Bank Corp		149,362
14,796		Integra Bank Corp		321,813
8,375		ITLA Capital Corp		440,357
5,827		Macatawa Bank Corp		136,293
21,000		MAF Bancorp, Inc		899,640
5,974		Marshall & Ilsley Corp		273,251
43,678		MB Financial, Inc		1,544,454
5,463		Mercantile Bank Corp		217,701
19,719		Mid-State Bancshares		552,132
23,324		National Penn Bancshares, Inc		463,215
19,300		NewAlliance Bancshares, Inc		276,183
36,600		Old National Bancorp		730,902
13,273		Pacific Capital Bancorp		413,056
4,271		Pennfed Financial Services, Inc		79,654
15,100		PFF Bancorp, Inc		500,716
27,000		Placer Sierra Bancshares		626,130
4,541		Premierwest Bancorp		65,527
11,000		Provident Bankshares Corp		400,290
5,473		Provident Financial Holdings		164,190
64,400		Provident Financial Services, Inc		1,155,980
8,690		R & G Financial Corp (Class B)		74,647
81,300		Republic Bancorp, Inc		1,007,307
14,026		S&T Bancorp, Inc		466,084
9,149		Sierra Bancorp		239,887
10,660		Simmons First National Corp (Class A)		309,247
9,417		Southwest Bancorp, Inc		240,133
2,900		State National Bancshares, Inc		110,519
8,900		Sterling Bancorp		173,550
14,300		Sterling Bancshares, Inc		268,125
11,336		Sterling Financial Corp		248,258
19,873		Sterling Financial Corp		606,325
9,457		Suffolk Bancorp		309,717
27,600	*	Sun Bancorp, Inc		448,224
7,708	*	SVB Financial Group		350,406
15,765		Taylor Capital Group, Inc		643,370
8,278		TD Banknorth, Inc		243,787
37,900		TierOne Corp		1,279,883
14,800		UCBH Holdings, Inc		244,792

46

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
9,800		UMB Financial Corp	$	326,732
15,600		Umpqua Holdings Corp		400,140
3,900		Univest Corp of Pennsylvania		107,718
3,200		Vineyard National Bancorp		86,080
83,800		W Holding Co, Inc		557,270
4,900		West Coast Bancorp		144,403
9,300		Westamerica Bancorporation		455,421
13,900		Wilshire Bancorp, Inc		250,478
		TOTAL DEPOSITORY INSTITUTIONS		40,642,982
EATING AND DRINKING PLACES - 2.41%
22,100		Applebees International, Inc		424,762
23,400		Bob Evans Farms, Inc		702,234
12,700	*	California Pizza Kitchen, Inc		348,996
10,500		CBRL Group, Inc		356,160
11,700	*	CEC Entertainment, Inc		375,804
53,600		CKE Restaurants, Inc		890,296
37,000		Domino's Pizza, Inc		915,380
7,349		IHOP Corp		353,340
9,000	*	Jack in the Box, Inc		352,800
7,913		Lone Star Steakhouse & Saloon, Inc		207,558
78,100	*	Luby's, Inc		814,583
19,727	*	McCormick & Schmick's Seafood Restaurants, Inc		469,503
9,600	*	Morton's Restaurant Group, Inc		147,072
16,526	*	O'Charleys, Inc		280,942
24,600	*	Papa John's International, Inc		816,720
10,800	*	PF Chang's China Bistro, Inc		410,616
35,236	*	Rare Hospitality International, Inc		1,013,387
7,600		Ruby Tuesday, Inc		185,516
33,589	*	Ruth's Chris Steak House, Inc		685,887
18,100	*	Sonic Corp		376,299
		TOTAL EATING AND DRINKING PLACES		10,127,855
EDUCATIONAL SERVICES - 0.62%
39,646	*	Corinthian Colleges, Inc		569,317
36,600	*	DeVry, Inc		804,102
6,900	*	Educate, Inc		52,854
7,496	*	Lincoln Educational Services Corp		128,107
8,138		Strayer Education, Inc		790,363
11,700	*	Universal Technical Institute, Inc		257,634
		TOTAL EDUCATIONAL SERVICES		2,602,377
ELECTRIC, GAS, AND SANITARY SERVICES - 3.30%
19,800		American States Water Co		705,870
58,600	*	Aquila, Inc		246,706
7,900		Avista Corp		180,357
4,600	*	Clean Harbors, Inc		185,426
31,300		Cleco Corp		727,725
30,220	*	Covanta Holding Corp		533,383
7,200		Crosstex Energy, Inc		684,576
12,300	*	El Paso Electric Co		247,968
2,700		EnergySouth, Inc		84,321
6,600		Idacorp, Inc		226,314
14,300		ITC Holdings Corp		380,094

47

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
42,200		Laclede Group, Inc	$	1,449,992
17,800		New Jersey Resources Corp		832,684
39,000		Nicor, Inc		1,618,500
8,600		Northwest Natural Gas Co		318,458
31,481		NorthWestern Corp		1,081,372
17,125		Otter Tail Corp		468,026
6,155		Peoples Energy Corp		221,026
20,413	*	Pico Holdings, Inc		658,319
19,100	*	Pike Electric Corp		367,866
26,900	*	Sierra Pacific Resources		376,600
8,400		South Jersey Industries, Inc		230,076
16,600		Southwest Gas Corp		520,244
25,200		Unisource Energy Corp		784,980
8,900	*	Waste Connections, Inc		323,960
14,800		WGL Holdings, Inc		428,460
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		13,883,303
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.27%
26,800		Acuity Brands, Inc		1,042,788
14,400		Adtran, Inc		322,992
12,402	*	Advanced Analogic Technologies, Inc		129,973
46,819	*	Aeroflex, Inc		546,378
22,579	*	AMIS Holdings, Inc		225,790
26,700	*	Amkor Technology, Inc		252,582
131,965	*	Arris Group, Inc		1,731,381
88,500	*	Atmel Corp		491,175
18,200	*	ATMI, Inc		448,084
8,500		Baldor Electric Co		265,965
6,900	*	Benchmark Electronics, Inc		166,428
18,100	*	Broadwing Corp		187,335
87,900	*	Brocade Communications Systems, Inc		539,706
3,176	*	Ceradyne, Inc		157,180
18,679	*	Checkpoint Systems, Inc		414,861
22,100	*	Comtech Telecommunications Corp		646,867
106,600	*	Conexant Systems, Inc		266,500
11,000		CTS Corp		163,790
4,220	*	Diodes, Inc		174,877
14,700	*	Electro Scientific Industries, Inc		264,453
17,033	*	Exar Corp		226,028
18,800	*	Fairchild Semiconductor International, Inc		341,596
6,700	*	Genlyte Group, Inc		485,281
32,600	*	Hexcel Corp		512,146
39,891	*	Ikanos Communications, Inc		605,944
1,996		Imation Corp		81,936
20,600	*	Interdigital Communications Corp		719,146
4,395		Lincoln Electric Holdings, Inc		275,347
55,123	*	Mattson Technology, Inc		538,552
4,070	*	Metrologic Instruments, Inc		61,091
36,560	*	Micrel, Inc		365,966
2,800	*	Moog, Inc		95,816
82,645	*	MRV Communications, Inc		257,026
1,800	*	Multi-Fineline Electronix, Inc		59,742
3,300		National Presto Industries, Inc		172,524
45,100	*	Omnivision Technologies, Inc		952,512

48

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
265,710	*	ON Semiconductor Corp	$	1,562,375
18,300	*	Oplink Communications Inc		335,073
20,192	*	Pericom Semiconductor Corp		167,594
4,600		Plantronics, Inc		102,166
30,365	*	Plexus Corp		1,038,787
27,400	*	PMC - Sierra, Inc		257,560
27,400	*	Polycom, Inc		600,608
16,317	*	Portalplayer, Inc		160,070
19,562	*	Power Integrations, Inc		341,944
17,800	*	Rambus, Inc		406,018
3,800		Regal-Beloit Corp		167,770
100,500	*	RF Micro Devices, Inc		599,985
9,300	*	Rogers Corp		523,962
49,500	*	Semtech Corp		715,275
16,275	*	Sigmatel, Inc		66,890
46,767	*	Silicon Image, Inc		504,148
13,428	*	Silicon Laboratories, Inc		471,994
39,400	*	Skyworks Solutions, Inc		217,094
8,500		Spectralink Corp		74,970
14,922	*	Standard Microsystems Corp		325,747
16,400	*	Supertex, Inc		655,016
22,034	*	Symmetricom, Inc		155,780
15,620	*	Synaptics, Inc		334,268
14,900		Technitrol, Inc		344,935
103,620	*	Triquint Semiconductor, Inc		462,145
12,456	*	TTM Technologies, Inc		180,238
26,935	*	Ulticom, Inc		282,009
35,358	*	Westell Technologies, Inc		77,434
4,400	*	Zoltek Cos, Inc		131,516
39,076	*	Zoran Corp		951,110
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		26,404,239
ENGINEERING AND MANAGEMENT SERVICES - 1.88%
5,797	*	Advisory Board Co		278,778
16,319	*	Amylin Pharmaceuticals, Inc		805,669
21,700	*	Applera Corp (Celera Genomics Group)		281,015
11,500		CDI Corp		333,500
3,758	*	CRA International, Inc		169,636
10,143	*	DiamondCluster International, Inc		80,333
82,300	*	Digitas, Inc		956,326
16,000	*	eResearch Technology, Inc		145,600
24,423	*	Exelixis, Inc		245,451
18,758	*	ICOS Corp		412,488
23,600	*	Lifecell Corp		729,712
17,100		MAXIMUS, Inc		395,865
5,000	*	MTC Technologies, Inc		118,150
11,470	*	Myriad Genetics, Inc		289,617
27,467	*	Regeneron Pharmaceuticals, Inc		352,127
17,700	*	Resources Connection, Inc		442,854
27,957	*	Savient Pharmaceuticals, Inc		146,774
19,487	*	SFBC International, Inc		295,423
5,500	*	Shaw Group, Inc		152,900
19,235	*	Sourcecorp		476,836
9,100	*	URS Corp		382,200

49

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
50,913	*	ViaCell, Inc	$	231,654
3,900		Washington Group International, Inc		208,026
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		7,930,934
FABRICATED METAL PRODUCTS - 0.98%
1,200		Ameron International Corp		80,424
9,600		Aptargroup, Inc		476,256
23,900		Commercial Metals Co		614,230
7,200		Crane Co		299,520
9,700		Dynamic Materials Corp		327,181
14,700	*	NCI Building Systems, Inc		781,599
6,666		Silgan Holdings, Inc		246,709
13,900		Simpson Manufacturing Co, Inc		501,095
11,200		Sun Hydraulics Corp		232,736
6,100		Valmont Industries, Inc		283,589
8,879		Watts Water Technologies, Inc (Class A)		297,890
		TOTAL FABRICATED METAL PRODUCTS		4,141,229
FOOD AND KINDRED PRODUCTS - 0.69%
15,100		Corn Products International, Inc		462,060
20,200		Flowers Foods, Inc		578,528
3,800	*	Hansen Natural Corp		723,406
10,600		Imperial Sugar Co		251,432
6,100	*	M&F Worldwide Corp		98,210
20,700		National Beverage Corp		297,045
11,600		Premium Standard Farms, Inc		188,268
11,100		Tootsie Roll Industries, Inc		323,343
		TOTAL FOOD AND KINDRED PRODUCTS		2,922,292
FOOD STORES - 0.29%
13,600	*	Pantry, Inc		782,544
22,600	*	Wild Oats Markets, Inc		442,960
		TOTAL FOOD STORES		1,225,504
FURNITURE AND FIXTURES - 0.87%
22,300	*	BE Aerospace, Inc		509,778
13,100		Ethan Allen Interiors, Inc		478,805
57,700		Furniture Brands International, Inc		1,202,468
6,840		Hooker Furniture Corp		114,707
8,565		Kimball International, Inc (Class B)		168,816
22,000		La-Z-Boy, Inc		308,000
20,130	*	Select Comfort Corp		462,386
16,700		Stanley Furniture Co, Inc		400,299
		TOTAL FURNITURE AND FIXTURES		3,645,259
FURNITURE AND HOMEFURNISHINGS STORES - 0.21%
9,700	*	GameStop Corp		407,400
6,700		Haverty Furniture Cos, Inc		105,123
9,000		Knoll, Inc		165,240
26,819	*	Trans World Entertainment Corp		193,633
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		871,396
GENERAL BUILDING CONTRACTORS - 0.19%
4,096		Brookfield Homes Corp		134,963

50

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
5,200	*	Cavco Industries, Inc	$	231,088
4,900		M/I Homes, Inc		171,892
12,300	*	Perini Corp		276,750
		TOTAL GENERAL BUILDING CONTRACTORS		814,693
GENERAL MERCHANDISE STORES - 0.35%
27,400	*	Big Lots, Inc		467,992
28,600		Casey's General Stores, Inc		715,286
19,638		Stein Mart, Inc		290,642
		TOTAL GENERAL MERCHANDISE STORES		1,473,920
HEALTH SERVICES - 1.89%
21,200	*	Alliance Imaging, Inc		135,680
5,926	*	Allied Healthcare International, Inc		15,882
5,079	*	Amedisys, Inc		192,494
3,512	*	America Service Group, Inc		54,506
3,600	*	American Dental Partners, Inc		54,936
10,300	*	American Retirement Corp		337,531
13,800	*	Amsurg Corp		313,950
38,900	*	Apria Healthcare Group, Inc		735,210
7,160	*	Genesis HealthCare Corp		339,169
60,303	*	Gentiva Health Services, Inc		966,657
5,400	*	Healthways, Inc		284,256
23,983		Hooper Holmes, Inc		73,148
10,400	*	Kindred Healthcare, Inc		270,400
6,050	*	Magellan Health Services, Inc		274,126
20,841	*	Nektar Therapeutics		382,224
34,458	*	Odyssey HealthCare, Inc		605,427
19,000	*	Pediatrix Medical Group, Inc		860,700
8,000	*	Psychiatric Solutions, Inc		229,280
22,140	*	RehabCare Group, Inc		384,793
34,300	*	Sunrise Senior Living, Inc		948,395
7,837	*	U.S. Physical Therapy, Inc		114,734
12,800	*	United Surgical Partners International, Inc		384,896
		TOTAL HEALTH SERVICES		7,958,394
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.15%
14,000		Granite Construction, Inc		633,780
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		633,780
HOLDING AND OTHER INVESTMENT OFFICES - 8.42%
11,400		Acadia Realty Trust		269,610
1,600	*	Alexander's, Inc		434,816
3,500		Alexandria Real Estate Equities, Inc		310,380
39,200		American Campus Communities, Inc		974,120
7,000		American Home Mortgage Investment Corp		258,020
23,300		Apollo Investment Corp		430,584
27,900		Arbor Realty Trust, Inc		698,895
52,800		Ashford Hospitality Trust, Inc		666,336
23,300		BioMed Realty Trust, Inc		697,602
32,100	*	Boykin Lodging Co		349,569
21,277		Brandywine Realty Trust		684,481
806		Capital Southwest Corp		84,187
6,100		Capital Trust, Inc		217,282

51

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
12,300		CentraCore Properties Trust	$	304,425
17,400		Colonial Properties Trust		859,560
12,800		Corporate Office Properties Trust		538,624
6,827		Cousins Properties, Inc		211,159
23,600		Crescent Real Estate Equities Co		438,016
31,500		Digital Realty Trust, Inc		777,735
7,500		Entertainment Properties Trust		322,875
38,600		Equity Inns, Inc		639,216
14,700		Equity Lifestyle Properties, Inc		644,301
39,000		Equity One, Inc		815,100
41,500		FelCor Lodging Trust, Inc		902,210
13,500		First Potomac Realty Trust		402,165
7,800		Getty Realty Corp		221,832
3,743		Gladstone Capital Corp		80,063
14,400		Glimcher Realty Trust		357,264
31,000		GMH Communities Trust		408,580
6,800		Harris & Harris Group, Inc		75,072
51,100		Highland Hospitality Corp		719,488
14,200		Highwoods Properties, Inc		513,756
8,600		Home Properties, Inc		477,386
78,500		Innkeepers U.S.A. Trust		1,356,480
87,790		iShares Russell 2000 Index Fund		6,312,101
5,000		Kilroy Realty Corp		361,250
22,300		KKR Financial Corp		464,063
29,200		LaSalle Hotel Properties		1,351,960
17,300		LTC Properties, Inc		386,655
7,100		Maguire Properties, Inc		249,707
6,400		Medical Properties Trust, Inc		70,656
16,200		Mid-America Apartment Communities, Inc		903,150
14,300		National Health Investors, Inc		384,527
3,800		National Health Realty, Inc		72,010
42,800		NorthStar Realty Finance Corp		514,028
99,000		Omega Healthcare Investors, Inc		1,308,780
8,700		Parkway Properties, Inc		395,850
25,900		Pennsylvania Real Estate Investment Trust		1,045,583
11,700		Post Properties, Inc		530,478
6,300		Potlatch Corp		237,825
8,600		PS Business Parks, Inc		507,400
7,200		Sovran Self Storage, Inc		365,688
6,100	*	Star Maritime Acquisition Corp		61,976
12,900		Strategic Hotel Capital, Inc		267,546
16,800		Tanger Factory Outlet Centers, Inc		543,816
26,400		Taubman Centers, Inc		1,079,760
17,200		Washington Real Estate Investment Trust		631,240
21,500		Winston Hotels, Inc		263,375
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		35,450,613
HOTELS AND OTHER LODGING PLACES - 0.36%
5,600	*	Aztar Corp		290,976
25,900	*	Bluegreen Corp		296,814
8,200	*	Gaylord Entertainment Co		357,848
15,100	*	Vail Resorts, Inc		560,210
		TOTAL HOTELS AND OTHER LODGING PLACES		1,505,848

52

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.60%
16,700		Actuant Corp	$	834,165
146,960	*	Advanced Digital Information Corp		1,729,719
31,100	*	AGCO Corp		818,552
5,500		Albany International Corp (Class A)		233,145
24,700	*	Asyst Technologies, Inc		185,991
15,300		Black Box Corp		586,449
22,900	*	Blount International, Inc		275,258
26,700		Briggs & Stratton Corp		830,637
18,509	*	Brooks Automation, Inc		218,406
5,800		Cascade Corp		229,390
83,408	*	Cirrus Logic, Inc		678,941
11,800	*	Cymer, Inc		548,228
11,600	*	Electronics for Imaging, Inc		242,208
71,890	*	Emulex Corp		1,169,650
6,000	*	EnPro Industries, Inc		201,600
23,500	*	Entegris, Inc		223,955
138,235	*	Extreme Networks, Inc		575,058
8,857	*	Fargo Electronics, Inc		224,879
6,000	*	Flowserve Corp		341,400
12,500	*	Gardner Denver, Inc		481,250
5,011	*	Global Imaging Systems, Inc		206,854
1,500	*	Hydril		117,780
9,600	*	Intermec, Inc		220,224
5,900		Kaydon Corp		220,129
5,000		Kennametal, Inc		311,250
8,693	*	Komag, Inc		401,443
78,456	*	Kulicke & Soffa Industries, Inc		581,359
7,100		Lennox International, Inc		188,008
3,628		Lufkin Industries, Inc		215,612
8,000		Manitowoc Co, Inc		356,000
27,885	*	Micros Systems, Inc		1,218,017
3,018	*	Middleby Corp		261,238
20,800		Modine Manufacturing Co		485,888
1,200		Nacco Industries, Inc (Class A)		164,892
12,909		Nordson Corp		634,865
31,000	*	Oil States International, Inc		1,062,680
20,600	*	Palm, Inc		331,660
12,225	*	PAR Technology Corp		156,113
2,600	*	Rimage Corp		53,092
12,666		Tennant Co		636,846
10,000		Watsco, Inc		598,200
10,242		Woodward Governor Co		312,483
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		19,363,514
INSTRUMENTS AND RELATED PRODUCTS - 6.11%
44,467	*	Align Technology, Inc		328,611
63,020	*	American Medical Systems Holdings, Inc		1,049,283
7,910	*	American Science & Engineering, Inc		458,147
6,102		Arrow International, Inc		200,573
6,248	*	Arthrocare Corp		262,478
19,276	*	Aspect Medical Systems, Inc		336,173
11,600	*	Bio-Rad Laboratories, Inc (Class A)		753,304
4,825	*	Biosite, Inc		220,310

53

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
76,440	*	Bruker BioSciences Corp	$	409,718
36,700	*	Candela Corp		582,062
4,292		CNS, Inc		105,154
8,900	*	Coherent, Inc		300,197
11,289	*	Conmed Corp		233,682
38,500	*	Depomed, Inc		225,995
13,200	*	DJ Orthopedics, Inc		486,156
7,300		DRS Technologies, Inc		355,875
11,700	*	Esterline Technologies Corp		486,603
20,000	*	Flir Systems, Inc		441,200
15,290	*	Fossil, Inc		275,373
20,500	*	Haemonetics Corp		953,455
3,700	*	Hologic, Inc		182,632
4,049	*	ICU Medical, Inc		171,030
10,527	*	Illumina, Inc		312,231
8,624	*	Integra LifeSciences Holdings Corp		334,697
15,700	*	Intralase Corp		262,818
7,800	*	Intuitive Surgical, Inc		920,166
9,000		Invacare Corp		223,920
500	*	IRIS International, Inc		6,580
11,170	*	Itron, Inc		661,934
20,200	*	Ixia		181,800
91,500	*	Kopin Corp		330,315
16,700	*	Kyphon, Inc		640,612
9,900	*	LaBarge, Inc		131,373
14,100		Mentor Corp		613,350
1	*	Merit Medical Systems, Inc		14
9,100		Mine Safety Appliances Co		365,820
20,825	*	MKS Instruments, Inc		418,999
7,046	*	Molecular Devices Corp		215,326
1,651		MTS Systems Corp		65,231
12,500	*	Neurometrix, Inc		380,750
34,024	*	Newport Corp		548,467
5,100	*	Palomar Medical Technologies, Inc		232,713
4,748	*	Rofin-Sinar Technologies, Inc		272,868
11,821	*	Rudolph Technologies, Inc		171,405
7,400		Sirona Dental Systems, Inc		293,188
9,800	*	SonoSite, Inc		382,592
39,100		STERIS Corp		893,826
12,901	*	Symmetry Medical, Inc		198,675
47,800	*	Teledyne Technologies, Inc		1,565,928
71,601	*	Thoratec Corp		993,106
85,814	*	TriPath Imaging, Inc		568,089
15,400		United Industrial Corp		696,850
38,519	*	Varian, Inc		1,598,924
18,504	*	Ventana Medical Systems, Inc		873,019
9,200	*	Viasys Healthcare, Inc		235,520
12,680	*	Vital Images, Inc		313,196
1,649		Vital Signs, Inc		81,675
26,882	*	Wright Medical Group, Inc		562,640
7,201		X-Rite, Inc		79,139
2,675		Young Innovations, Inc		94,240
5,600	*	Zoll Medical Corp		183,456
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		25,723,463

54

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
INSURANCE AGENTS, BROKERS AND SERVICE - 0.15%
10,200		Clark, Inc	$	134,640
11,200		National Financial Partners Corp		496,272
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		630,912
INSURANCE CARRIERS - 2.83%
16,746		Affirmative Insurance Holdings, Inc		262,075
14,078	*	American Physicians Capital, Inc		740,362
14,900	*	AMERIGROUP Corp		462,496
26,300	*	Argonaut Group, Inc		790,052
25,300		Bristol West Holdings, Inc		404,800
11,201	*	Centene Corp		263,560
6,643		Direct General Corp		112,400
11,491		EMC Insurance Group, Inc		330,481
7,100		FBL Financial Group, Inc (Class A)		230,040
5,000		Great American Financial Resources, Inc		104,650
8,616		Harleysville Group, Inc		273,300
15,443	*	HealthExtras, Inc		466,687
35,000		Horace Mann Educators Corp		593,250
12,600		LandAmerica Financial Group, Inc		813,960
10,200	*	Molina Healthcare, Inc		388,110
388		National Western Life Insurance Co (Class A)		92,984
23,800		Ohio Casualty Corp		707,574
31,713		Phoenix Cos, Inc		446,519
8,400	*	ProAssurance Corp		404,712
16,400		RLI Corp		790,152
8,500		Safety Insurance Group, Inc		404,175
10,100	*	SCPIE Holdings, Inc		234,825
11,884	*	SeaBright Insurance Holdings, Inc		191,451
10,734		Selective Insurance Group, Inc		599,709
6,681		State Auto Financial Corp		217,400
21,100		Stewart Information Services Corp		766,141
11,400		Tower Group, Inc		344,850
4,700	*	WellCare Health Plans, Inc		230,535
5,900		Zenith National Insurance Corp		234,053
		TOTAL INSURANCE CARRIERS		11,901,303
JUSTICE, PUBLIC ORDER AND SAFETY - 0.08%
6,200	*	Corrections Corp of America		328,228
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		328,228
LEATHER AND LEATHER PRODUCTS - 0.54%
14,800	*	Genesco, Inc		501,276
15,600	*	Timberland Co (Class A)		407,160
57,850		Wolverine World Wide, Inc		1,349,641
		TOTAL LEATHER AND LEATHER PRODUCTS		2,258,077
LEGAL SERVICES - 0.21%
30,500	*	FTI Consulting, Inc		816,485
2,100		Pre-Paid Legal Services, Inc		72,450
		TOTAL LEGAL SERVICES		888,935

55

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
LUMBER AND WOOD PRODUCTS - 0.63%
107,400	*	Champion Enterprises, Inc	$	1,185,696
9,200		Skyline Corp		393,576
17,200		Universal Forest Products, Inc		1,078,956
		TOTAL LUMBER AND WOOD PRODUCTS		2,658,228
METAL MINING - 0.31%
13,300		Cleveland-Cliffs, Inc		1,054,557
52,100	*	Coeur d'Alene Mines Corp		250,601
		TOTAL METAL MINING		1,305,158
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.71%
16,900		Blyth, Inc		311,974
76,000		Callaway Golf Co		987,240
15,061		Charles & Colvard Ltd		158,592
390		Escalade, Inc		5,070
3,110	*	Jakks Pacific, Inc		62,480
4,900		Marine Products Corp		47,677
15,084	*	Shuffle Master, Inc		494,454
36,600		Yankee Candle Co, Inc		915,366
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		2,982,853
MISCELLANEOUS RETAIL - 0.73%
7,632		Blair Corp		227,052
13,813		Cash America International, Inc		442,016
20,600		Longs Drug Stores Corp		939,772
8,122	*	Nutri/System, Inc		504,620
14,553	*	Petco Animal Supplies, Inc		297,318
10,100	*	Priceline.com, Inc		301,586
14,740	*	Zale Corp		355,087
		TOTAL MISCELLANEOUS RETAIL		3,067,451
MOTION PICTURES - 0.09%
17,066	*	Macrovision Corp		367,260
		TOTAL MOTION PICTURES		367,260
NONDEPOSITORY INSTITUTIONS - 1.02%
12,300	*	Accredited Home Lenders Holding Co		588,063
34,500		Advance America Cash Advance Centers, Inc		605,130
12,482		Ares Capital Corp		211,320
12,054	*	CompuCredit Corp		463,356
22,400		Delta Financial Corp		220,640
28,484		Doral Financial Corp		182,582
7,089	*	Encore Capital Group, Inc		86,982
4,500		Federal Agricultural Mortgage Corp (Class C)		124,650
7,650		Financial Federal Corp		212,747
9,170	*	First Cash Financial Services, Inc		181,108
14,998		MCG Capital Corp		238,468
22,100	*	Ocwen Financial Corp		280,891
6,173		Technology Investment Capital Corp		90,434
7,486	*	United PanAm Financial Corp		227,574
16,200	*	World Acceptance Corp		575,424
		TOTAL NONDEPOSITORY INSTITUTIONS		4,289,369

56

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
OIL AND GAS EXTRACTION - 2.18%
23,035	*	Atlas America, Inc	$	1,032,198
21,900		Cabot Oil & Gas Corp (Class A)		1,073,100
5,918	*	Cheniere Energy, Inc		230,802
12,600		Cimarex Energy Co		541,800
12,100		Delta & Pine Land Co		355,740
24,000	*	Global Industries Ltd		400,800
68,246	*	Grey Wolf, Inc		525,494
24,900	*	Harvest Natural Resources, Inc		337,146
7,000	*	Helix Energy Solutions Group, Inc		282,520
23,417	*	Hercules Offshore, Inc		819,595
5,500	*	Oceaneering International, Inc		252,175
37,700	*	Parker Drilling Co		270,686
500	v*	PetroCorp		0
2,600	*	Petroleum Development Corp		98,020
36,400	*	RAM Energy Resources, Inc		208,208
3,100		RPC, Inc		75,268
21,200		St. Mary Land & Exploration Co		853,300
4,200	*	Stone Energy Corp		195,510
4,300	*	Superior Energy Services		145,770
6,800	*	Swift Energy Co		291,924
5,800	*	Tetra Technologies, Inc		175,682
13,900		Todco		567,815
3,500	*	Veritas DGC, Inc		180,530
6,800		W&T Offshore, Inc		264,452
		TOTAL OIL AND GAS EXTRACTION		9,178,535
PAPER AND ALLIED PRODUCTS - 0.16%
3,900		Greif, Inc (Class A)		292,344
8,900		Longview Fibre Co		169,901
14,000		Rock-Tenn Co (Class A)		223,300
		TOTAL PAPER AND ALLIED PRODUCTS		685,545
PERSONAL SERVICES - 0.07%
9,800		Jackson Hewitt Tax Service, Inc		307,230
		TOTAL PERSONAL SERVICES		307,230
PETROLEUM AND COAL PRODUCTS - 0.72%
33,764		Alon USA Energy, Inc		1,062,553
13,000		Frontier Oil Corp		421,200
16,800	*	Giant Industries, Inc		1,118,040
6,700	*	Headwaters, Inc		171,252
4,900		Holly Corp		236,180
		TOTAL PETROLEUM AND COAL PRODUCTS		3,009,225
PRIMARY METAL INDUSTRIES - 2.24%
29,100	*	AK Steel Holding Corp		402,453
23,800	*	Aleris International, Inc		1,091,230
25,000		Belden CDT, Inc		826,250
4,500		Carpenter Technology Corp		519,750
6,841	*	Century Aluminum Co		244,155
3,900	*	Chaparral Steel Co		280,878
33,800	*	CommScope, Inc		1,061,996
18,700	*	Encore Wire Corp		672,078
12,600	*	General Cable Corp		441,000

57

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
11,700	*	Lone Star Technologies, Inc	$	632,034
15,374		Matthews International Corp (Class A)		529,942
6,000	*	Maverick Tube Corp		379,140
16,200		Mueller Industries, Inc		535,086
2,700	*	NS Group, Inc		148,716
3,845	*	Oregon Steel Mills, Inc		194,788
11,525		Quanex Corp		496,382
4,800	*	RTI International Metals, Inc		268,032
3,300		Schnitzer Steel Industries, Inc (Class A)		117,084
2,600		Steel Dynamics, Inc		170,924
5,000	*	Superior Essex, Inc		149,650
2,300		Texas Industries, Inc		122,130
7,000		Worthington Industries, Inc		146,650
		TOTAL PRIMARY METAL INDUSTRIES		9,430,348
PRINTING AND PUBLISHING - 1.20%
18,600		Banta Corp		861,738
26,900		Belo (A.H.) Corp Series A		419,640
12,200	*	Consolidated Graphics, Inc		635,132
1,658		CSS Industries, Inc		47,668
11,506		John H Harland Co		500,511
13,000		Journal Register Co		116,480
31,600	*	Playboy Enterprises, Inc (Class B)		315,368
28,400		Reader's Digest Association, Inc (Class A)		396,464
36,700	*	Scholastic Corp		953,099
1,570	*	Triple Crown Media, Inc		13,612
33,200	*	Valassis Communications, Inc		783,188
		TOTAL PRINTING AND PUBLISHING		5,042,900
REAL ESTATE - 0.62%
34,708	*	Alderwoods Group, Inc		675,418
11,100		Jones Lang LaSalle, Inc		971,805
1		Stewart Enterprises, Inc (Class A)		6
19,202	*	Trammell Crow Co		675,334
31,204	*	ZipRealty, Inc		264,610
		TOTAL REAL ESTATE		2,587,173
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.55%
10,700	*	Jarden Corp		325,815
14,915		Schulman (A.), Inc		341,404
49,980		Spartech Corp		1,129,548
10,000		Titan International, Inc		187,100
10,525		Tupperware Corp		207,237
3,600		West Pharmaceutical Services, Inc		130,608
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		2,321,712
SECURITY AND COMMODITY BROKERS - 1.20%
2,700		Cohen & Steers, Inc		63,720
5,271	*	GFI Group, Inc		284,370
5,800		Greenhill & Co, Inc		352,408
5,700	*	IntercontinentalExchange, Inc		330,258
10,600	*	Investment Technology Group, Inc		539,116
52,554	*	Knight Capital Group, Inc		800,397
33,100	*	LaBranche & Co, Inc		400,841

58

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
23,600	*	Nasdaq Stock Market, Inc	$	705,640
28,000		optionsXpress Holdings, Inc		652,680
8,700	*	Piper Jaffray Cos		532,527
4,300	*	Stifel Financial Corp		151,833
11,500		Waddell & Reed Financial, Inc (Class A)		236,440
		TOTAL SECURITY AND COMMODITY BROKERS		5,050,230
SOCIAL SERVICES - 0.15%
16,100	*	Bright Horizons Family Solutions, Inc		606,809
		TOTAL SOCIAL SERVICES		606,809
SPECIAL TRADE CONTRACTORS - 0.78%
13,202	*	AsiaInfo Holdings, Inc		56,637
4,000		Chemed Corp		218,120
24,900		Comfort Systems USA, Inc		355,821
6,800	*	Dycom Industries, Inc		144,772
35,900	*	EMCOR Group, Inc		1,747,253
44,400	*	Quanta Services, Inc		769,452
		TOTAL SPECIAL TRADE CONTRACTORS		3,292,055
STONE, CLAY, AND GLASS PRODUCTS - 0.25%
13,000	*	Cabot Microelectronics Corp		394,030
13,600		Eagle Materials, Inc		646,000
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		1,040,030
TEXTILE MILL PRODUCTS - 0.17%
18,500		Oxford Industries, Inc		729,085
		TOTAL TEXTILE MILL PRODUCTS		729,085
TRANSPORTATION BY AIR - 1.20%
164,451	*	ABX Air, Inc		993,284
24,150	*	Airtran Holdings, Inc		358,869
5,700	*	Bristow Group, Inc		205,200
27,200	*	Continental Airlines, Inc (Class B)		810,560
25,080	*	EGL, Inc		1,259,016
12,900	*	ExpressJet Holdings, Inc		89,139
26,111	*	Republic Airways Holdings, Inc		444,409
36,000		Skywest, Inc		892,800
		TOTAL TRANSPORTATION BY AIR		5,053,277
TRANSPORTATION EQUIPMENT - 2.47%
9,300		A.O. Smith Corp		431,148
4,897		Arctic Cat, Inc		95,540
10,350	*	Armor Holdings, Inc		567,491
20,300		ArvinMeritor, Inc		348,957
27,900		Clarcor, Inc		831,141
38,400		Federal Signal Corp		581,376
6,450		Freightcar America, Inc		358,040
16,800		Group 1 Automotive, Inc		946,512
51,000		JLG Industries, Inc		1,147,500
14,584		Kaman Corp (Class A)		265,429
42,500	*	Orbital Sciences Corp		685,950
11,200		Polaris Industries, Inc		484,960
5,200	*	Sequa Corp (Class A)		423,800

59

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
7,100	*	Tenneco, Inc	$	184,600
15,903		Thor Industries, Inc		770,500
8,000		Trinity Industries, Inc		323,200
10,700	*	Triumph Group, Inc		513,600
30,000	*	Visteon Corp		216,300
9,500		Wabash National Corp		145,920
23,300		Westinghouse Air Brake Technologies Corp		871,420
6,800		Winnebago Industries, Inc		211,072
		TOTAL TRANSPORTATION EQUIPMENT		10,404,456
TRANSPORTATION SERVICES - 0.36%
47,096	*	HUB Group, Inc		1,155,265
11,246		Pacer International, Inc		366,395
		TOTAL TRANSPORTATION SERVICES		1,521,660
TRUCKING AND WAREHOUSING - 0.58%
7,701		Arkansas Best Corp		386,667
18,288		Forward Air Corp		744,870
33,300		Heartland Express, Inc		595,737
7,000	*	Old Dominion Freight Line		263,130
2,400	*	P.A.M. Transportation Services, Inc		69,336
11,200	*	SCS Transportation, Inc		308,336
9,400	*	SIRVA, Inc		60,818
		TOTAL TRUCKING AND WAREHOUSING		2,428,894
WATER TRANSPORTATION - 0.15%
5,700	*	Gulfmark Offshore, Inc		147,231
12,600	*	Kirby Corp		497,700
		TOTAL WATER TRANSPORTATION		644,931
WHOLESALE TRADE-DURABLE GOODS - 1.57%
21,054		Agilysys, Inc		378,972
34,100		Applied Industrial Technologies, Inc		828,971
17,000		Barnes Group, Inc		339,150
3,600		BlueLinx Holdings, Inc		46,908
8,800		Building Material Holding Corp		245,256
5,300		Castle (A.M.) & Co		170,925
15,185	*	Digi International, Inc		190,268
15,631	*	Genesis Microchip, Inc		180,694
89,400		IKON Office Solutions, Inc		1,126,440
14,876	*	Insight Enterprises, Inc		283,388
6,300	*	Keystone Automotive Industries, Inc		265,986
15,300		Owens & Minor, Inc		437,580
9,600		Reliance Steel & Aluminum Co		796,320
34,200		Ryerson Tull, Inc		923,400
1,268	*	Strattec Security Corp		63,159
30,800	*	Tyler Technologies, Inc		344,960
		TOTAL WHOLESALE TRADE-DURABLE GOODS		6,622,377
WHOLESALE TRADE-NONDURABLE GOODS - 0.63%
11,829	*	Hain Celestial Group, Inc		304,715
3,537		K-Swiss, Inc (Class A)		94,438
5,000		Myers Industries, Inc		85,950
36,224	*	Performance Food Group Co		1,100,485

60

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
12,127		Spartan Stores, Inc	$	177,418
3,000		The Andersons, Inc		124,830
15,800	*	United Stationers, Inc		779,256
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,667,092
		TOTAL COMMON STOCKS		417,728,324
		(Cost $399,970,479)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.40%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.40%
$     1,700,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		1,700,000
		TOTAL SHORT-TERM INVESTMENTS		1,700,000
		(Cost $1,699,540)
		TOTAL PORTFOLIO - 99.62%		419,428,324
		(Cost $401,670,019)
		OTHER ASSETS & LIABILITIES, NET - 0.38%		1,600,544
		NET ASSETS - 100.00%	$	421,028,868
	*	Non-income producing
	v	Security valued at fair value
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

61

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 99.79%
AMUSEMENT AND RECREATION SERVICES - 0.28%
10,932		GTECH Holdings Corp	$	380,215
11,709		Harrah's Entertainment, Inc		833,447
6,117	*	Penn National Gaming, Inc		237,217
4,113		Warner Music Group Corp		121,251
1,323		Westwood One, Inc		9,923
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,582,053
APPAREL AND ACCESSORY STORES - 1.03%
7,557		Abercrombie & Fitch Co (Class A)		418,884
9,795		American Eagle Outfitters, Inc		333,422
5,769	*	AnnTaylor Stores Corp		250,259
15,383	*	Chico's FAS, Inc		415,033
8,496		Claire's Stores, Inc		216,733
1,519		Foot Locker, Inc		37,200
24,985		Gap, Inc		434,739
29,646	*	Kohl's Corp		1,752,672
29,303		Limited Brands, Inc		749,864
20,275		Nordstrom, Inc		740,037
12,333		Ross Stores, Inc		345,941
9,624	*	Urban Outfitters, Inc		168,324
		TOTAL APPAREL AND ACCESSORY STORES		5,863,108
APPAREL AND OTHER TEXTILE PRODUCTS - 0.05%
5,249		Polo Ralph Lauren Corp		288,170
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		288,170
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.26%
9,267		Advance Auto Parts		267,816
4,695	*	Autozone, Inc		414,099
9,290	*	Carmax, Inc		329,423
6,027	*	Copart, Inc		148,023
9,488	*	O'Reilly Automotive, Inc		295,931
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,455,292
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.89%
10,801		Fastenal Co		435,172
168,097		Home Depot, Inc		6,016,192
66,640		Lowe's Cos, Inc		4,043,049
6,254		Sherwin-Williams Co		296,940
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		10,791,353
BUSINESS SERVICES - 11.43%
22,954	*	Activision, Inc		261,217
7,370		Acxiom Corp		184,250
51,430	*	Adobe Systems, Inc		1,561,415

62

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,015	*	Affiliated Computer Services, Inc (Class A)	$	207,214
13,279	*	Akamai Technologies, Inc		480,567
6,981	*	Alliance Data Systems Corp		410,622
19,849	*	Autodesk, Inc		683,997
49,512		Automatic Data Processing, Inc		2,245,369
33,460	*	BEA Systems, Inc		437,991
17,927	*	BMC Software, Inc		428,455
3,226		Brink's Co		181,979
5,979		CA, Inc		122,868
20,366	*	Cadence Design Systems, Inc		349,277
11,310		Cendant Corp		184,240
11,371	*	Ceridian Corp		277,907
5,782	*	Cerner Corp		214,570
7,103	*	Checkfree Corp		352,025
7,393	*	ChoicePoint, Inc		308,806
15,647	*	Citrix Systems, Inc		628,071
2,150	*	Clear Channel Outdoor Holdings, Inc		45,064
12,218	*	Cognizant Technology Solutions Corp		823,127
5,093	*	DST Systems, Inc		303,034
100,985	*	eBay, Inc		2,957,851
26,102	*	Electronic Arts, Inc		1,123,430
24,706		Electronic Data Systems Corp		594,426
23,592	*	Emdeon Corp		292,777
9,893		Equifax, Inc		339,726
1,820	*	Expedia, Inc		27,245
3,560	*	F5 Networks, Inc		190,389
3,544		Factset Research Systems, Inc		167,631
4,380		Fair Isaac Corp		159,038
1,784		Fidelity National Information Services, Inc		63,154
65,759		First Data Corp		2,961,785
15,089	*	Fiserv, Inc		684,437
4,405	*	Getty Images, Inc		279,762
17,938	*	Google, Inc (Class A)		7,521,942
12,257		IMS Health, Inc		329,100
36,435	*	Interpublic Group of Cos, Inc		304,232
14,954	*	Intuit, Inc		903,072
10,030	*	Iron Mountain, Inc		374,921
26,162	*	Juniper Networks, Inc		418,330
3,767	*	Kinetic Concepts, Inc		166,313
7,104	*	Lamar Advertising Co		382,621
6,297		Manpower, Inc		406,786
5,267	*	Mastercard, Inc		252,816
12,667	*	McAfee, Inc		307,428
762,367		Microsoft Corp		17,763,151
7,271		MoneyGram International, Inc		246,850
10,426	*	Monster Worldwide, Inc		444,773
8,215	*	NAVTEQ Corp		367,046
3,276	*	NCR Corp		120,033
14,689		Omnicom Group, Inc		1,308,643
341,410	*	Oracle Corp		4,947,031
16,183	*	Red Hat, Inc		378,682
3,805		Reynolds & Reynolds Co (Class A)		116,699
12,906		Robert Half International, Inc		542,052
7,239	*	Salesforce.com, Inc		192,992

63

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
7,532		ServiceMaster Co	$	77,806
26,866	*	Sun Microsystems, Inc		111,494
38,795	*	Symantec Corp		602,874
1,123	*	Synopsys, Inc		21,079
3,330		Total System Services, Inc		64,103
19,755	*	VeriSign, Inc		457,723
41,071		Waste Management, Inc		1,473,627
484	*	WebMD Health Corp		22,893
121,011	*	Yahoo!, Inc		3,993,363
		TOTAL BUSINESS SERVICES		65,154,191
CHEMICALS AND ALLIED PRODUCTS - 9.45%
105,008		Abbott Laboratories		4,579,399
2,260	*	Abraxis BioScience, Inc		53,878
2,207		Air Products & Chemicals, Inc		141,071
1,428		Alberto-Culver Co		69,572
101,297	*	Amgen, Inc		6,607,603
8,097		Avery Dennison Corp		470,112
38,676		Avon Products, Inc		1,198,956
9,244	*	Barr Pharmaceuticals, Inc		440,846
14,363	*	Biogen Idec, Inc		665,438
77,352		Bristol-Myers Squibb Co		2,000,323
2,249		Cabot Corp		77,635
3,504		Celanese Corp (Series A)		71,552
5,180	*	Cephalon, Inc		311,318
1,863	*	Charles River Laboratories International, Inc		68,558
5,705		Church & Dwight Co, Inc		207,776
39,613		Colgate-Palmolive Co		2,372,819
7,482		Dade Behring Holdings, Inc		311,550
63,394		Du Pont (E.I.) de Nemours & Co		2,637,190
16,129		Ecolab, Inc		654,515
63,852		Eli Lilly & Co		3,529,100
11,506		Estee Lauder Cos (Class A)		444,937
28,011	*	Forest Laboratories, Inc		1,083,746
40,093	*	Genentech, Inc		3,279,607
22,360	*	Genzyme Corp		1,365,078
39,086	*	Gilead Sciences, Inc		2,312,328
13,421	*	Hospira, Inc		576,298
5,490	*	Huntsman Corp		95,087
2,778	*	Idexx Laboratories, Inc		208,711
6,260	*	ImClone Systems, Inc		241,886
6,057		International Flavors & Fragrances, Inc		213,449
1,654	*	Invitrogen Corp		109,280
1,440	*	Kos Pharmaceuticals, Inc		54,173
21,484	*	Medimmune, Inc		582,216
57,175		Merck & Co, Inc		2,082,885
14,600	*	Millennium Pharmaceuticals, Inc		145,562
23,240		Monsanto Co		1,956,576
18,030		Mylan Laboratories, Inc		360,600
9,135	*	Nalco Holding Co		161,050
10,018	*	PDL BioPharma, Inc		184,431
1,808		PPG Industries, Inc		119,328
27,752		Praxair, Inc		1,498,608
58,519		Procter & Gamble Co		3,253,656

64

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,053		Rohm & Haas Co	$	102,896
127,225		Schering-Plough Corp		2,421,092
3,023		Scotts Miracle-Gro Co (Class A)		127,933
9,341	*	Sepracor, Inc		533,745
2,473		Sigma-Aldrich Corp		179,639
7,512	*	VCA Antech, Inc		239,858
9,464	*	Vertex Pharmaceuticals, Inc		347,423
70,645		Wyeth		3,137,344
		TOTAL CHEMICALS AND ALLIED PRODUCTS		53,888,633
COAL MINING - 0.52%
12,270		Arch Coal, Inc		519,880
15,740		Consol Energy, Inc		735,373
3,888		Foundation Coal Holdings, Inc		182,464
7,036		Massey Energy Co		253,296
22,745		Peabody Energy Corp		1,268,034
		TOTAL COAL MINING		2,959,047
COMMUNICATIONS - 2.43%
36,050	*	American Tower Corp (Class A)		1,121,876
3,071	*	Avaya, Inc		35,071
9,556		Cablevision Systems Corp (Class A)		204,976
11,470		Citizens Communications Co		149,684
85,294	*	Comcast Corp (Class A)		2,792,526
16,426	*	Crown Castle International Corp		567,354
69,139	*	DIRECTV Group, Inc		1,140,793
17,668	*	EchoStar Communications Corp (Class A)		544,351
5,870		Global Payments, Inc		284,989
6,291	*	IAC/InterActiveCorp		166,649
1,402	*	Leap Wireless International, Inc		66,525
72,790	*	Level 3 Communications, Inc		323,188
14,885	*	Liberty Global, Inc		320,027
46,206	*	Liberty Media Holding Corp (Interactive)		797,516
4,948	*	NeuStar, Inc		166,995
11,826	*	NII Holdings, Inc (Class B)		666,750
8,860	*	SBA Communications Corp		231,600
59,263		Sprint Nextel Corp		1,184,667
5,031		Telephone & Data Systems, Inc		208,283
12,380	*	Univision Communications, Inc (Class A)		414,730
790	*	US Cellular Corp		47,874
54,378	*	Viacom, Inc		1,948,908
2,560	*	West Corp		122,650
22,196	*	XM Satellite Radio Holdings, Inc		325,171
		TOTAL COMMUNICATIONS		13,833,153
DEPOSITORY INSTITUTIONS - 1.46%
2,832		Bank of Hawaii Corp		140,467
2,620		Bank of New York Co, Inc		84,364
15,546		Commerce Bancorp, Inc		554,526
1,949		Cullen/Frost Bankers, Inc		111,678
4,816		East West Bancorp, Inc		182,575
12,576		Golden West Financial Corp		933,139
24,968		Hudson City Bancorp, Inc		332,823
1,225		IndyMac Bancorp, Inc		56,166

65

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,970		Investors Financial Services Corp	$	268,053
31,825		Mellon Financial Corp		1,095,735
17,698		Northern Trust Corp		978,699
5,550		People's Bank		182,318
26,074		State Street Corp		1,514,639
10,870		Synovus Financial Corp		291,099
4,689		TCF Financial Corp		124,024
21,793		Wells Fargo & Co		1,461,874
		TOTAL DEPOSITORY INSTITUTIONS		8,312,179
EATING AND DRINKING PLACES - 0.94%
9,851		Aramark Corp (Class B)		326,167
7,285		Brinker International, Inc		264,446
12,730		Darden Restaurants, Inc		501,562
3,118		OSI Restaurant Partners, Inc		107,883
66,229	*	Starbucks Corp		2,500,807
6,800	*	The Cheesecake Factory, Inc		183,260
2,577	*	Tim Hortons, Inc		66,358
4,092		Wendy's International, Inc		238,523
23,823		Yum! Brands, Inc		1,197,582
		TOTAL EATING AND DRINKING PLACES		5,386,588
EDUCATIONAL SERVICES - 0.22%
11,979	*	Apollo Group, Inc (Class A)		618,955
8,384	*	Career Education Corp		250,598
3,762	*	ITT Educational Services, Inc		247,577
3,156	*	Laureate Education, Inc		134,540
		TOTAL EDUCATIONAL SERVICES		1,251,670
ELECTRIC, GAS, AND SANITARY SERVICES - 2.00%
56,699	*	AES Corp		1,046,097
14,038	*	Allegheny Energy, Inc		520,389
1,226	*	Allied Waste Industries, Inc		13,927
6,628		Aqua America, Inc		151,052
1,513		Constellation Energy Group, Inc		82,489
9,793	*	Covanta Holding Corp		172,846
1,857		DPL, Inc		49,768
53,027		El Paso Corp		795,405
48,239		Exelon Corp		2,741,422
9,149		Kinder Morgan, Inc		913,894
3,444	*	NRG Energy, Inc		165,932
6,511		Questar Corp		524,070
9,605		Republic Services, Inc		387,466
3,804	*	Stericycle, Inc		247,640
39,312		TXU Corp		2,350,464
5,348		Western Gas Resources, Inc		320,078
38,853		Williams Cos, Inc		907,606
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		11,390,545
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 9.78%
8,911	*	ADC Telecommunications, Inc		150,239
41,589	*	Advanced Micro Devices, Inc		1,015,603
14,808	*	Agere Systems, Inc		217,678
30,847	*	Altera Corp		541,365

66

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,703		American Power Conversion Corp	$	111,151
6,355		Ametek, Inc		301,100
7,699		Amphenol Corp (Class A)		430,836
31,484		Analog Devices, Inc		1,011,896
4,764	*	Avnet, Inc		95,375
1,280		AVX Corp		20,211
39,200	*	Broadcom Corp (Class A)		1,177,960
11,047	*	Ciena Corp		53,136
524,393	*	Cisco Systems, Inc		10,241,395
13,959	*	Comverse Technology, Inc		275,969
5,752	*	Cree, Inc		136,668
10,713	*	Cypress Semiconductor Corp		155,767
2,866	*	Dolby Laboratories, Inc (Class A)		66,778
32,710		Emerson Electric Co		2,741,425
4,256	*	Energizer Holdings, Inc		249,274
5,361	*	Fairchild Semiconductor International, Inc		97,409
15,867	*	Freescale Semiconductor, Inc (Class B)		466,490
5,747		Harman International Industries, Inc		490,621
11,460		Harris Corp		475,705
31,315		Honeywell International, Inc		1,261,995
7,155	*	Integrated Device Technology, Inc		101,458
499,681		Intel Corp		9,468,955
3,506	*	International Rectifier Corp		137,014
5,551		Intersil Corp (Class A)		129,061
140,076	*	JDS Uniphase Corp		354,392
753		L-3 Communications Holdings, Inc		56,791
3,643		Lincoln Electric Holdings, Inc		228,234
26,081		Linear Technology Corp		873,453
24,559	*	LSI Logic Corp		219,803
207,014	*	Lucent Technologies, Inc		500,974
27,552		Maxim Integrated Products, Inc		884,695
11,929	*	MEMC Electronic Materials, Inc		447,338
18,617		Microchip Technology, Inc		624,600
28,950	*	Micron Technology, Inc		435,987
11,803		Molex, Inc		396,227
166,755		Motorola, Inc		3,360,113
29,251		National Semiconductor Corp		697,636
32,137	*	Network Appliance, Inc		1,134,436
4,611	*	Novellus Systems, Inc		113,892
30,700	*	Nvidia Corp		653,603
17,670	*	PMC - Sierra, Inc		166,098
14,270	*	QLogic Corp		246,015
143,986		Qualcomm, Inc		5,769,519
8,874		RadioShack Corp		124,236
6,782	*	Rambus, Inc		154,697
14,695		Rockwell Collins, Inc		821,010
18,280	*	Sanmina-SCI Corp		84,088
4,293	*	Silicon Laboratories, Inc		150,899
120,571	*	Sirius Satellite Radio, Inc		572,712
134,162		Texas Instruments, Inc		4,063,767
5,362	*	Thomas & Betts Corp		275,071
3,140	*	Vishay Intertechnology, Inc		49,392
29,502		Xilinx, Inc		668,220
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		55,750,432

67

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
ENGINEERING AND MANAGEMENT SERVICES - 1.22%
9,166	*	Amylin Pharmaceuticals, Inc	$	452,525
30,064	*	Celgene Corp		1,425,936
3,440		Corporate Executive Board Co		344,688
7,582		Fluor Corp		704,595
4,548	*	Gen-Probe, Inc		245,501
418	*	Hewitt Associates, Inc		9,397
5,032	*	Jacobs Engineering Group, Inc		400,748
20,868		Moody's Corp		1,136,471
28,878		Paychex, Inc		1,125,664
8,810		Pharmaceutical Product Development, Inc		309,407
13,792		Quest Diagnostics, Inc		826,417
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		6,981,349
FABRICATED METAL PRODUCTS - 0.49%
1,066	*	Alliant Techsystems, Inc		81,389
8,996		Ball Corp		333,212
14,935	*	Crown Holdings, Inc		232,538
42,701		Illinois Tool Works, Inc		2,028,298
3,300		Pentair, Inc		112,827
460		Snap-On, Inc		18,593
		TOTAL FABRICATED METAL PRODUCTS		2,806,857
FOOD AND KINDRED PRODUCTS - 3.60%
42,484		Anheuser-Busch Cos, Inc		1,936,846
2,144	*	Burger King Holdings, Inc		33,768
11,751		Campbell Soup Co		436,080
115,875		Coca-Cola Co		4,984,942
3,045	*	Constellation Brands, Inc (Class A)		76,125
2,747		General Mills, Inc		141,910
16,688		H.J. Heinz Co		687,879
1,303	*	Hansen Natural Corp		248,052
13,621		Hershey Co		750,108
15,684		Kellogg Co		759,576
8,983		McCormick & Co, Inc		301,380
6,097		Pepsi Bottling Group, Inc		196,019
141,951		PepsiCo, Inc		8,522,738
34,354		Sara Lee Corp		550,351
19,703		Wrigley (Wm.) Jr Co		893,728
		TOTAL FOOD AND KINDRED PRODUCTS		20,519,502
FOOD STORES - 0.19%
6,898		Kroger Co		150,790
2,584	*	Panera Bread Co (Class A)		173,748
12,037		Whole Foods Market, Inc		778,072
		TOTAL FOOD STORES		1,102,610
FORESTRY - 0.00%**
604		Rayonier, Inc		22,898
		TOTAL FORESTRY		22,898
FURNITURE AND FIXTURES - 0.34%
2,222		Hillenbrand Industries, Inc		107,767

68

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,447		HNI Corp	$	201,671
9,510		Johnson Controls, Inc		781,912
8,637		Leggett & Platt, Inc		215,752
20,682		Masco Corp		613,014
		TOTAL FURNITURE AND FIXTURES		1,920,116
FURNITURE AND HOMEFURNISHINGS STORES - 0.65%
24,242	*	Bed Bath & Beyond, Inc		804,107
34,597		Best Buy Co, Inc		1,897,299
13,920		Circuit City Stores, Inc		378,902
5,528	*	GameStop Corp		232,176
542	*	Mohawk Industries, Inc		38,130
4,673		Steelcase, Inc (Class A)		76,871
8,518		Williams-Sonoma, Inc		290,038
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		3,717,523
GENERAL BUILDING CONTRACTORS - 0.35%
1,702		Beazer Homes USA, Inc		78,071
4,748		Centex Corp		238,824
14,598		DR Horton, Inc		347,724
3,580		KB Home		164,143
4,967		Lennar Corp (Class A)		220,386
1,479		MDC Holdings, Inc		76,804
400	*	NVR, Inc		196,500
9,005		Pulte Homes, Inc		259,254
1,420		Ryland Group, Inc		61,869
2,167		Standard-Pacific Corp		55,692
2,423	*	Toll Brothers, Inc		61,956
3,735		Walter Industries, Inc		215,323
		TOTAL GENERAL BUILDING CONTRACTORS		1,976,546
GENERAL MERCHANDISE STORES - 3.21%
27,306		Costco Wholesale Corp		1,559,992
25,299		Dollar General Corp		353,680
7,136		Family Dollar Stores, Inc		174,332
3,464		Federated Department Stores, Inc		126,782
20,099		JC Penney Co, Inc		1,356,883
74,589		Target Corp		3,645,164
39,346		TJX Cos, Inc		899,450
211,203		Wal-Mart Stores, Inc		10,173,649
		TOTAL GENERAL MERCHANDISE STORES		18,289,932
HEALTH SERVICES - 2.07%
3,479		AmerisourceBergen Corp		145,840
1,039		Brookdale Senior Living, Inc		46,485
35,045		Caremark Rx, Inc		1,747,694
5,149	*	Community Health Systems, Inc		189,226
4,231	*	Covance, Inc		259,022
13,789	*	Coventry Health Care, Inc		757,568
8,936	*	DaVita, Inc		444,119
5,280	*	Edwards Lifesciences Corp		239,870
10,663	*	Express Scripts, Inc		764,964
33,269		HCA, Inc		1,435,557
5,327		Health Management Associates, Inc (Class A)		104,995

69

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
10,708	*	Laboratory Corp of America Holdings	$	666,359
1,894	*	LifePoint Hospitals, Inc		60,854
8,271	*	Lincare Holdings, Inc		312,975
7,247		Manor Care, Inc		340,029
18,230		McKesson Corp		861,914
16,134	*	Medco Health Solutions, Inc		924,156
3,953	*	Pediatrix Medical Group, Inc		179,071
4,556	*	Sierra Health Services, Inc		205,157
27,502	*	Tenet Healthcare Corp		191,964
1,237	*	Triad Hospitals, Inc		48,960
901		Universal Health Services, Inc (Class B)		45,284
25,184	*	WellPoint, Inc		1,832,640
		TOTAL HEALTH SERVICES		11,804,703
HOLDING AND OTHER INVESTMENT OFFICES - 1.66%
2,736	*	Affiliated Managers Group, Inc		237,731
3,983		Developers Diversified Realty Corp		207,833
888		Essex Property Trust, Inc		99,154
2,371		Federal Realty Investment Trust		165,970
7,938		General Growth Properties, Inc		357,686
1,325		Global Signal, Inc		61,374
102,790		iShares Russell 1000 Growth Index Fund		5,199,118
2,754		Kilroy Realty Corp		198,977
6,163		Macerich Co		432,643
728		Pan Pacific Retail Properties, Inc		50,501
3,827		Public Storage, Inc		290,469
4,067		Shurgard Storage Centers, Inc (Class A)		254,188
10,527		Simon Property Group, Inc		873,109
3,713		SL Green Realty Corp		406,462
2,041		Taubman Centers, Inc		83,477
11,542		United Dominion Realty Trust, Inc		323,291
5,331		Ventas, Inc		180,614
1,196		Weingarten Realty Investors		45,783
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		9,468,380
HOTELS AND OTHER LODGING PLACES - 0.93%
3,687		Boyd Gaming Corp		148,807
2,902		Choice Hotels International, Inc		175,861
33,413		Hilton Hotels Corp		944,920
11,934	*	Las Vegas Sands Corp		929,181
29,833		Marriott International, Inc (Class A)		1,137,234
10,648	*	MGM Mirage		434,438
15,544		Starwood Hotels & Resorts Worldwide, Inc		937,925
4,344		Station Casinos, Inc		295,740
4,265	*	Wynn Resorts Ltd		312,625
		TOTAL HOTELS AND OTHER LODGING PLACES		5,316,731
INDUSTRIAL MACHINERY AND EQUIPMENT - 8.90%
64,763		3M Co		5,230,908
521	*	AGCO Corp		13,713
15,303		American Standard Cos, Inc		662,161
73,166	*	Apple Computer, Inc		4,179,242
134,338		Applied Materials, Inc		2,187,023
5,919		Black & Decker Corp		499,919

70

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
9,919	*	Cameron International Corp	$	473,831
2,254		Carlisle Cos, Inc		178,742
57,688		Caterpillar, Inc		4,296,602
5,046		CDW Corp		275,764
3,165		Cummins, Inc		386,921
198,195	*	Dell, Inc		4,837,940
4,645		Diebold, Inc		188,680
6,694		Donaldson Co, Inc		226,726
15,677		Dover Corp		774,914
2,150	*	Dresser-Rand Group, Inc		50,482
178,518	*	EMC Corp		1,958,342
732	*	Flowserve Corp		41,651
5,914	*	FMC Technologies, Inc		398,958
4,492	*	Gardner Denver, Inc		172,942
5,883		Graco, Inc		270,500
11,278	*	Grant Prideco, Inc		504,691
145,878		Hewlett-Packard Co		4,621,415
4,423		IDEX Corp		208,766
121,059		International Business Machines Corp		9,299,752
29,127		International Game Technology		1,105,078
15,656		Jabil Circuit, Inc		400,794
10,617		Joy Global, Inc		553,040
12,077	*	Lam Research Corp		563,030
6,909	*	Lexmark International, Inc		385,729
5,259		Manitowoc Co, Inc		234,025
1,757		Pall Corp		49,196
4,563		Parker Hannifin Corp		354,089
15,366		Rockwell Automation, Inc		1,106,506
16,744	*	SanDisk Corp		853,609
5,501	*	Scientific Games Corp (Class A)		195,946
18,600		Smith International, Inc		827,142
37,487	*	Solectron Corp		128,206
4,685		Stanley Works		221,226
18,587		Symbol Technologies, Inc		200,554
2,046	*	Terex Corp		201,940
732		Timken Co		24,529
3,753		Toro Co		175,265
11,399	*	Varian Medical Systems, Inc		539,743
3,333	*	VeriFone Holdings, Inc		101,590
19,414	*	Western Digital Corp		384,591
6,406	*	Zebra Technologies Corp (Class A)		218,829
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		50,765,242
INSTRUMENTS AND RELATED PRODUCTS - 6.72%
6,135	*	Advanced Medical Optics, Inc		311,045
36,547	*	Agilent Technologies, Inc		1,153,423
12,846		Allergan, Inc		1,377,862
12,610		Applera Corp (Applied Biosystems Group)		407,934
8,896		Bard (C.R.), Inc		651,721
765		Bausch & Lomb, Inc		37,516
56,251		Baxter International, Inc		2,067,787
4,988		Beckman Coulter, Inc		277,083
21,248		Becton Dickinson & Co		1,298,890
21,131		Biomet, Inc		661,189

71

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
106,002	*	Boston Scientific Corp	$	1,785,074
2,056		Cooper Cos, Inc		91,060
20,402		Danaher Corp		1,312,257
6,786		Dentsply International, Inc		411,232
995		DRS Technologies, Inc		48,506
6,316	*	Fisher Scientific International, Inc		461,384
3,138	*	Intuitive Surgical, Inc		370,190
225,357		Johnson & Johnson		13,503,391
13,492		Kla-Tencor Corp		560,862
103,681		Medtronic, Inc		4,864,713
3,472	*	Mettler-Toledo International, Inc		210,299
4,567	*	Millipore Corp		287,675
4,840		National Instruments Corp		132,616
5,970		PerkinElmer, Inc		124,773
11,121		Pitney Bowes, Inc		459,297
6,482	*	Resmed, Inc		304,330
6,660	*	Respironics, Inc		227,905
7,465		Roper Industries, Inc		348,989
31,013	*	St. Jude Medical, Inc		1,005,441
25,712		Stryker Corp		1,082,732
3,521	*	Techne Corp		179,289
5,046		Tektronix, Inc		148,453
12,590	*	Teradyne, Inc		175,379
4,401	*	Thermo Electron Corp		159,492
4,605	*	Trimble Navigation Ltd		205,567
8,983	*	Waters Corp		398,845
21,314	*	Zimmer Holdings, Inc		1,208,930
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		38,313,131
INSURANCE AGENTS, BROKERS AND SERVICE - 0.06%
9,680		Brown & Brown, Inc		282,850
2,970		Gallagher (Arthur J.) & Co		75,260
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		358,110
INSURANCE CARRIERS - 2.23%
24,260		Aetna, Inc		968,702
42,827		Aflac, Inc		1,985,031
1,007		Ambac Financial Group, Inc		81,668
24,785		American International Group, Inc		1,463,554
1,575		Hanover Insurance Group, Inc		74,750
4,988		HCC Insurance Holdings, Inc		146,847
8,923	*	Health Net, Inc		403,052
14,141	*	Humana, Inc		759,372
195	*	Markel Corp		67,665
3,841	*	Philadelphia Consolidated Holding Co		116,613
1,594		Principal Financial Group		88,706
18,145		Progressive Corp		466,508
6,040		Prudential Financial, Inc		469,308
834		Transatlantic Holdings, Inc		46,621
115,701		UnitedHealth Group, Inc		5,181,091
7,073		W.R. Berkley Corp		241,401
2,804	*	WellCare Health Plans, Inc		137,536
		TOTAL INSURANCE CARRIERS		12,698,425

72

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
JUSTICE, PUBLIC ORDER AND SAFETY - 0.02%
2,277	*	Corrections Corp of America	$	120,544
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		120,544
LEATHER AND LEATHER PRODUCTS - 0.17%
33,069	*	Coach, Inc		988,763
		TOTAL LEATHER AND LEATHER PRODUCTS		988,763
METAL MINING - 0.41%
8,705		Freeport-McMoRan Copper & Gold, Inc (Class A)		482,344
34,014		Newmont Mining Corp		1,800,361
582		Southern Copper Corp		51,874
		TOTAL METAL MINING		2,334,579
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.05%
4,320		Fortune Brands, Inc		306,763
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		306,763
MISCELLANEOUS RETAIL - 1.94%
26,990	*	Amazon.com, Inc		1,043,973
1,080		Barnes & Noble, Inc		39,420
5,125	*	Coldwater Creek, Inc		137,145
63,622		CVS Corp		1,953,195
3,068	*	Dick's Sporting Goods, Inc		121,493
972	*	Dollar Tree Stores, Inc		25,758
11,346		Michaels Stores, Inc		467,909
3,382		MSC Industrial Direct Co (Class A)		160,882
2,760	*	Nutri/System, Inc		171,479
24,715	*	Office Depot, Inc		939,170
12,029		Petsmart, Inc		307,942
63,024		Staples, Inc		1,532,744
7,402		Tiffany & Co		244,414
86,775		Walgreen Co		3,890,991
		TOTAL MISCELLANEOUS RETAIL		11,036,515
MOTION PICTURES - 0.93%
7,261	*	Discovery Holding Co (Class A)		106,228
2,187	*	DreamWorks Animation SKG, Inc (Class A)		50,082
134,098		News Corp (Class A)		2,572,000
5,268		Regal Entertainment Group (Class A)		107,046
24,883		Time Warner, Inc		430,476
67,450		Walt Disney Co		2,023,500
		TOTAL MOTION PICTURES		5,289,332
NONDEPOSITORY INSTITUTIONS - 1.64%
92,945		American Express Co		4,946,533
2,911	*	AmeriCredit Corp		81,275
4,346		Capital One Financial Corp		371,366
5,215		CapitalSource, Inc		122,344
2,611		First Marblehead Corp		148,670
30,014		Freddie Mac		1,711,098
1,589	*	Nelnet, Inc		64,434
35,570		SLM Corp		1,882,364
		TOTAL NONDEPOSITORY INSTITUTIONS		9,328,084

73

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
NONMETALLIC MINERALS, EXCEPT FUELS - 0.16%
4,299		Florida Rock Industries, Inc	$	213,531
8,640		Vulcan Materials Co		673,920
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		887,451
OIL AND GAS EXTRACTION - 2.69%
29,348		Baker Hughes, Inc		2,402,134
27,754		BJ Services Co		1,034,114
4,644	*	Cheniere Energy, Inc		181,116
2,057	*	CNX Gas Corp		61,710
10,238	*	Denbury Resources, Inc		324,237
5,116		Diamond Offshore Drilling, Inc		429,386
13,205		ENSCO International, Inc		607,694
9,694		Equitable Resources, Inc		324,749
7,520	*	Global Industries Ltd		125,584
44,267		Halliburton Co		3,285,054
6,577	*	Helix Energy Solutions Group, Inc		265,448
4,512		Helmerich & Payne, Inc		271,893
14,036	*	National Oilwell Varco, Inc		888,760
4,612	*	Oceaneering International, Inc		211,460
14,847		Patterson-UTI Energy, Inc		420,319
6,981	*	Plains Exploration & Production Co		283,010
10,882	*	Pride International, Inc		339,845
5,229	*	Quicksilver Resources, Inc		192,479
11,374		Range Resources Corp		309,259
8,468		Rowan Cos, Inc		301,376
14,458	*	Southwestern Energy Co		450,511
4,903		St. Mary Land & Exploration Co		197,346
6,821	*	Superior Energy Services		231,232
6,093	*	Tetra Technologies, Inc		184,557
3,001		Tidewater, Inc		147,649
5,307		Todco		216,791
4,074	*	Unit Corp		231,770
1,523		W&T Offshore, Inc		59,229
31,285		XTO Energy, Inc		1,384,987
		TOTAL OIL AND GAS EXTRACTION		15,363,699
PAPER AND ALLIED PRODUCTS - 0.28%
22,906		Kimberly-Clark Corp		1,413,300
6,974		Packaging Corp of America		153,567
		TOTAL PAPER AND ALLIED PRODUCTS		1,566,867
PERSONAL SERVICES - 0.23%
12,047		Cintas Corp		478,989
28,204		H&R Block, Inc		672,947
3,430		Weight Watchers International, Inc		140,253
		TOTAL PERSONAL SERVICES		1,292,189
PETROLEUM AND COAL PRODUCTS - 0.57%
9,401		EOG Resources, Inc		651,865
29,620		Exxon Mobil Corp		1,817,187
5,228		Frontier Oil Corp		169,387
4,130		Holly Corp		199,066

74

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,890		Sunoco, Inc	$	408,118
		TOTAL PETROLEUM AND COAL PRODUCTS		3,245,623
PRIMARY METAL INDUSTRIES - 1.05%
29,410		Alcoa, Inc		951,708
8,683		Allegheny Technologies, Inc		601,211
2,028		Carpenter Technology Corp		234,234
133,793	*	Corning, Inc		3,236,453
1,477		Hubbell, Inc (Class B)		70,379
11,607		Precision Castparts Corp		693,634
6,334	*	Titanium Metals Corp		217,763
		TOTAL PRIMARY METAL INDUSTRIES		6,005,382
PRINTING AND PUBLISHING - 0.51%
4,614		Dow Jones & Co, Inc		161,536
5,696	*	Dun & Bradstreet Corp		396,897
7,267		EW Scripps Co		313,498
5,090		Harte-Hanks, Inc		130,508
4,010		John Wiley & Sons, Inc (Class A)		133,132
30,734		McGraw-Hill Cos, Inc		1,543,769
2,665		Meredith Corp		132,024
132		Washington Post Co (Class B)		102,961
		TOTAL PRINTING AND PUBLISHING		2,914,325
RAILROAD TRANSPORTATION - 0.92%
31,326		Burlington Northern Santa Fe Corp		2,482,586
9,306		CSX Corp		655,515
2,330	*	Kansas City Southern Industries, Inc		64,541
19,988		Norfolk Southern Corp		1,063,761
10,536		Union Pacific Corp		979,427
		TOTAL RAILROAD TRANSPORTATION		5,245,830
REAL ESTATE - 0.22%
15,897	*	CB Richard Ellis Group, Inc		395,835
6,004		Forest City Enterprises, Inc (Class A)		299,660
3,077		Jones Lang LaSalle, Inc		269,391
6,401		St. Joe Co		297,903
		TOTAL REAL ESTATE		1,262,789
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.13%
15,245	*	Goodyear Tire & Rubber Co		169,220
2,052	*	Jarden Corp		62,483
14,609		Newell Rubbermaid, Inc		377,350
2,805		Sealed Air Corp		146,084
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		755,137
SECURITY AND COMMODITY BROKERS - 2.72%
1,760		BlackRock, Inc		244,939
4,491	*	Cbot Holdings, Inc		537,079
89,989		Charles Schwab Corp		1,438,024
2,981		Chicago Mercantile Exchange Holdings, Inc		1,464,118
33,853	*	E*Trade Financial Corp		772,525
9,931		Eaton Vance Corp		247,878
7,870		Federated Investors, Inc (Class B)		247,905

75

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
14,522		Franklin Resources, Inc	$	1,260,655
24,773		Goldman Sachs Group, Inc		3,726,602
1,751	*	IntercontinentalExchange, Inc		101,453
3,715	*	Investment Technology Group, Inc		188,945
9,178		Janus Capital Group, Inc		164,286
6,194		Legg Mason, Inc		616,427
5,935		Lehman Brothers Holdings, Inc		386,665
14,323		Merrill Lynch & Co, Inc		996,308
9,821		Morgan Stanley		620,785
8,123	*	Nasdaq Stock Market, Inc		242,878
6,128		Nuveen Investments, Inc		263,810
6,803	*	NYSE Group, Inc		465,869
5,396		SEI Investments Co		263,756
23,017		T Rowe Price Group, Inc		870,273
26,217		TD Ameritrade Holding Corp		388,274
		TOTAL SECURITY AND COMMODITY BROKERS		15,509,454
SPECIAL TRADE CONTRACTORS - 0.01%
4,244	*	Quanta Services, Inc		73,549
		TOTAL SPECIAL TRADE CONTRACTORS		73,549
STONE, CLAY, AND GLASS PRODUCTS - 0.12%
4,325		Eagle Materials, Inc		205,438
11,962		Gentex Corp		167,468
13,177	*	Owens-Illinois, Inc		220,847
1,496	b*	USG Corp		109,103
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		702,856
TOBACCO PRODUCTS - 1.11%
81,434		Altria Group, Inc		5,979,699
7,705		UST, Inc		348,189
		TOTAL TOBACCO PRODUCTS		6,327,888
TRANSPORTATION BY AIR - 0.80%
13,908	*	AMR Corp		353,541
7,529	*	Continental Airlines, Inc (Class B)		224,364
26,209		FedEx Corp		3,062,784
39,973		Southwest Airlines Co		654,358
5,227	*	US Airways Group, Inc		264,173
		TOTAL TRANSPORTATION BY AIR		4,559,220
TRANSPORTATION EQUIPMENT - 3.44%
68,683		Boeing Co		5,625,825
1,523		Brunswick Corp		50,640
9,907		Goodrich Corp		399,153
23,074		Harley-Davidson, Inc		1,266,532
3,603		Harsco Corp		280,890
10,893		ITT Industries, Inc		539,204
9,137		JLG Industries, Inc		205,583
31,461		Lockheed Martin Corp		2,257,012
3,928		Martin Marietta Materials, Inc		358,037
2,137		Northrop Grumman Corp		136,896
6,320		Oshkosh Truck Corp		300,326
8,599		Paccar, Inc		708,386

76

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
12,123	*	Pactiv Corp	$	300,044
18,368		Raytheon Co		818,662
10,164		Textron, Inc		936,918
3,062		Thor Industries, Inc		148,354
6,385		Trinity Industries, Inc		257,954
79,453		United Technologies Corp		5,038,909
		TOTAL TRANSPORTATION EQUIPMENT		19,629,325
TRANSPORTATION SERVICES - 0.33%
14,919		CH Robinson Worldwide, Inc		795,183
18,328		Expeditors International Washington, Inc		1,026,551
2,040		GATX Corp		86,700
		TOTAL TRANSPORTATION SERVICES		1,908,434
TRUCKING AND WAREHOUSING - 0.94%
4,694		Con-way, Inc		271,923
9,713		J.B. Hunt Transport Services, Inc		241,951
5,069		Landstar System, Inc		239,409
2,156	*	Swift Transportation Co, Inc		68,475
55,348		United Parcel Service, Inc (Class B)		4,556,801
		TOTAL TRUCKING AND WAREHOUSING		5,378,559
WATER TRANSPORTATION - 0.03%
4,530	*	Kirby Corp		178,935
		TOTAL WATER TRANSPORTATION		178,935
WHOLESALE TRADE-DURABLE GOODS - 2.83%
1,100	*	Arrow Electronics, Inc		35,420
368		BorgWarner, Inc		23,957
10,152	*	Cytyc Corp		257,455
434,103	d	General Electric Co		14,308,035
4,945		Omnicare, Inc		234,492
12,520	*	Patterson Cos, Inc		437,324
4,589		Pool Corp		200,218
4,708		W.W. Grainger, Inc		354,183
4,151	*	WESCO International, Inc		286,419
		TOTAL WHOLESALE TRADE-DURABLE GOODS		16,137,503
WHOLESALE TRADE-NONDURABLE GOODS - 1.18%
5,438		Airgas, Inc		202,566
5,296		Brown-Forman Corp (Class B)		378,399
35,446		Cardinal Health, Inc		2,280,241
11,374	*	Endo Pharmaceuticals Holdings, Inc		375,115
7,778	*	Henry Schein, Inc		363,466
16,572		Nike, Inc (Class B)		1,342,332
53,127		Sysco Corp		1,623,561
3,084	*	Tractor Supply Co		170,453
631		Valhi, Inc		15,491
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		6,751,624
		TOTAL COMMON STOCKS		569,069,688
		(Cost $541,336,795)

77

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund

PRINCIPAL		COMPANY		VALUE
SHORT-TERM INVESTMENTS - 0.55%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.55%
$     3,110,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06	$	3,110,000
		TOTAL SHORT-TERM INVESTMENTS		3,110,000
		(Cost $3,109,159)
		TOTAL PORTFOLIO - 100.34%		572,179,688
		(Cost $544,445,954)
		OTHER ASSETS & LIABILITIES, NET - (0.34%)		(1,912,187	)
		NET ASSETS - 100.00%	$	570,267,501
	*	Non-income producing
	**	Percentage represents less than 0.01%.
	b	In bankruptcy
	d	All or a portion of these securities have been segregated by the custodian to cover margin
		or other requirements on futures contracts.
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

78

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP VALUE INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 99.81%
AMUSEMENT AND RECREATION SERVICES - 0.10%
3,890		Harrah's Entertainment, Inc	$	276,890
2,624		International Speedway Corp (Class A)		121,675
3,408		Warner Music Group Corp		100,468
		TOTAL AMUSEMENT AND RECREATION SERVICES		499,033
APPAREL AND ACCESSORY STORES - 0.12%
449	*	AnnTaylor Stores Corp		19,478
390		Claire's Stores, Inc		9,949
11,087		Foot Locker, Inc		271,521
19,841		Gap, Inc		345,233
		TOTAL APPAREL AND ACCESSORY STORES		646,181
APPAREL AND OTHER TEXTILE PRODUCTS - 0.21%
8,947		Jones Apparel Group, Inc		284,425
8,606		Liz Claiborne, Inc		318,938
6,988		VF Corp		474,625
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,077,988
AUTO REPAIR, SERVICES AND PARKING - 0.06%
4,898		Ryder System, Inc		286,190
		TOTAL AUTO REPAIR, SERVICES AND PARKING		286,190
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.06%
11,662	*	Autonation, Inc		250,033
3,905		United Auto Group, Inc		83,372
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		333,405
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.12%
12,908		Home Depot, Inc		461,977
3,549		Sherwin-Williams Co		168,507
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		630,484
BUSINESS SERVICES - 1.58%
5,286	*	Affiliated Computer Services, Inc (Class A)		272,811
1,128		Brink's Co		63,631
30,891		CA, Inc		634,810
3,648	*	Cadence Design Systems, Inc		62,563
69,204		Cendant Corp		1,127,333
1,225	*	Ceridian Corp		29,939
1,070	*	Clear Channel Outdoor Holdings, Inc		22,427
14,942	*	Computer Sciences Corp		723,791
30,786	*	Compuware Corp		206,266
10,823	*	Convergys Corp		211,050
18,293		Electronic Data Systems Corp		440,130
1,136		Equifax, Inc		39,010

79

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
16,820	*	Expedia, Inc	$	251,795
1,269		Fair Isaac Corp		46,077
5,950		Fidelity National Information Services, Inc		210,630
4,579		IMS Health, Inc		122,946
20,970	*	Juniper Networks, Inc		335,310
1,010		Manpower, Inc		65,246
11,007	*	NCR Corp		403,297
29,614	*	Novell, Inc		196,341
1,232		Reynolds & Reynolds Co (Class A)		37,785
16,311		ServiceMaster Co		168,493
256,521	*	Sun Microsystems, Inc		1,064,562
47,508	*	Symantec Corp		738,274
9,255	*	Synopsys, Inc		173,716
1,314	*	Take-Two Interactive Software, Inc		14,007
25,832	*	Unisys Corp		162,225
5,184	*	United Rentals, Inc		165,784
1,223	*	VeriSign, Inc		28,337
4,822		Waste Management, Inc		173,013
		TOTAL BUSINESS SERVICES		8,191,599
CHEMICALS AND ALLIED PRODUCTS - 9.18%
24,391		Abbott Laboratories		1,063,691
16,180		Air Products & Chemicals, Inc		1,034,226
3,160		Albemarle Corp		151,301
4,924		Alberto-Culver Co		239,897
13,951	*	Biogen Idec, Inc		646,350
85,626		Bristol-Myers Squibb Co		2,214,288
3,035		Cabot Corp		104,768
3,709		Celanese Corp (Series A)		75,738
4,052	*	Charles River Laboratories International, Inc		149,114
19,304		Chemtura Corp		180,299
12,076		Clorox Co		736,274
4,323		Colgate-Palmolive Co		258,948
2,999		Cytec Industries, Inc		160,926
77,175		Dow Chemical Co		3,012,140
14,756		Du Pont (E.I.) de Nemours & Co		613,850
6,251		Eastman Chemical Co		337,554
19,271		Eli Lilly & Co		1,065,108
2,837		FMC Corp		182,674
2,102	*	Huntsman Corp		36,407
2,346		International Flavors & Fragrances, Inc		82,673
2,715	*	Invitrogen Corp		179,380
19,377	*	King Pharmaceuticals, Inc		329,409
5,055		Lubrizol Corp		201,442
17,354		Lyondell Chemical Co		393,242
121,868		Merck & Co, Inc		4,439,651
11,242	*	Millennium Pharmaceuticals, Inc		112,083
10,295	*	Mosaic Co		161,117
588,668		Pfizer, Inc		13,816,038
11,642		PPG Industries, Inc		768,372
209,074		Procter & Gamble Co		11,624,514
10,987		Rohm & Haas Co		550,668
9,231		RPM International, Inc		166,158
958		Scotts Miracle-Gro Co (Class A)		40,543

80

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,093		Sigma-Aldrich Corp	$	224,675
335		Tronox, Inc		4,412
7,634		Valspar Corp		201,614
7,983	*	Watson Pharmaceuticals, Inc		185,844
1,082		Westlake Chemical Corp		32,244
42,089		Wyeth		1,869,172
		TOTAL CHEMICALS AND ALLIED PRODUCTS		47,646,804
COMMUNICATIONS - 7.31%
31,261		Alltel Corp		1,995,390
312,271		AT&T, Inc		8,709,238
34,180	*	Avaya, Inc		390,336
145,295		BellSouth Corp		5,259,679
8,594		Cablevision Systems Corp (Class A)		184,341
54,003		CBS Corp		1,460,781
9,726		CenturyTel, Inc		361,321
15,365		Citizens Communications Co		200,513
40,438		Clear Channel Communications, Inc		1,251,556
77,510	*	Comcast Corp (Class A)		2,537,677
1,907	*	Crown Castle International Corp		65,868
11,949	*	Embarq Corp		489,820
2,240		Hearst-Argyle Television, Inc		49,414
9,119	*	IAC/InterActiveCorp		241,562
2,163	*	Leap Wireless International, Inc		102,634
23,464	*	Liberty Global, Inc		504,476
11,287	*	Liberty Media Holding Corp (Capital)		945,512
13,212	*	Liberty Media Holding Corp (Interactive)		228,039
5,449		PanAmSat Holding Corp		136,116
126,986	*	Qwest Communications International, Inc		1,027,317
177,446		Sprint Nextel Corp		3,547,146
4,066		Telephone & Data Systems, Inc		168,333
5,479	*	Univision Communications, Inc (Class A)		183,547
687	*	US Cellular Corp		41,632
234,319		Verizon Communications, Inc		7,847,343
		TOTAL COMMUNICATIONS		37,929,591
DEPOSITORY INSTITUTIONS - 18.96%
28,391		AmSouth Bancorp		750,942
10,604		Associated Banc-Corp		334,344
7,639		Astoria Financial Corp		232,608
6,377		Bancorpsouth, Inc		173,773
366,556		Bank of America Corp		17,631,344
1,522		Bank of Hawaii Corp		75,491
57,548		Bank of New York Co, Inc		1,853,046
43,907		BB&T Corp		1,826,092
1,612		BOK Financial Corp		80,068
1,639		Capitol Federal Financial		56,201
399,410		Citigroup, Inc		19,267,538
3,158		City National Corp		205,554
12,412		Colonial Bancgroup, Inc		318,740
13,410		Comerica, Inc		697,186
5,370		Commerce Bancshares, Inc		268,769
10,127		Compass Bancshares, Inc		563,061
2,708		Cullen/Frost Bankers, Inc		155,168

81

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
38,365		Fifth Third Bancorp	$	1,417,587
482		First Citizens Bancshares, Inc (Class A)		96,641
10,141		First Horizon National Corp		407,668
13,957		Fulton Financial Corp		222,196
9,511		Golden West Financial Corp		705,716
23,371		Hudson City Bancorp, Inc		311,535
19,847		Huntington Bancshares, Inc		467,992
4,072		IndyMac Bancorp, Inc		186,701
279,048		JPMorgan Chase & Co		11,720,016
32,414		Keycorp		1,156,532
6,097		M&T Bank Corp		718,958
20,342		Marshall & Ilsley Corp		930,443
3,609		Mellon Financial Corp		124,258
9,486		Mercantile Bankshares Corp		338,366
45,789		National City Corp		1,657,104
22,951		New York Community Bancorp, Inc		378,921
37,278		North Fork Bancorporation, Inc		1,124,677
1,034		Northern Trust Corp		57,180
23,752		PNC Financial Services Group, Inc		1,666,678
22,214		Popular, Inc		426,509
36,125		Regions Financial Corp		1,196,460
7,494		Sky Financial Group, Inc		176,933
5,809		South Financial Group, Inc		153,416
29,178		Sovereign Bancorp, Inc		592,605
1,742		State Street Corp		101,193
29,170		SunTrust Banks, Inc		2,224,504
12,095		Synovus Financial Corp		323,904
6,572		TCF Financial Corp		173,829
8,618		TD Banknorth, Inc		253,800
4,531		UnionBanCal Corp		292,657
142,809		US Bancorp		4,409,942
8,342		Valley National Bancorp		214,473
129,173		Wachovia Corp		6,985,676
7,494		Washington Federal, Inc		173,786
77,266		Washington Mutual, Inc		3,521,784
4,428		Webster Financial Corp		210,064
114,596		Wells Fargo & Co		7,687,100
5,031		Whitney Holding Corp		177,947
5,429		Wilmington Trust Corp		228,995
8,325		Zions Bancorporation		648,851
		TOTAL DEPOSITORY INSTITUTIONS		98,353,522
EATING AND DRINKING PLACES - 0.73%
100,062		McDonald's Corp		3,362,083
2,481		OSI Restaurant Partners, Inc		85,843
5,546		Wendy's International, Inc		323,276
		TOTAL EATING AND DRINKING PLACES		3,771,202
EDUCATIONAL SERVICES - 0.00%**
532	*	Laureate Education, Inc		22,679
		TOTAL EDUCATIONAL SERVICES		22,679
ELECTRIC, GAS, AND SANITARY SERVICES - 6.21%
6,525		AGL Resources, Inc		248,733

82

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
9,435		Alliant Energy Corp	$	323,621
18,920	*	Allied Waste Industries, Inc		214,931
16,461		Ameren Corp		831,281
31,656		American Electric Power Co, Inc		1,084,218
4,313		Aqua America, Inc		98,293
6,851		Atmos Energy Corp		191,211
23,811		Centerpoint Energy, Inc		297,638
16,632	*	CMS Energy Corp		215,218
19,459		Consolidated Edison, Inc		864,758
12,590		Constellation Energy Group, Inc		686,407
27,912		Dominion Resources, Inc		2,087,538
8,174		DPL, Inc		219,063
13,757		DTE Energy Co		560,460
99,320		Duke Energy Corp		2,917,028
26,034	*	Dynegy, Inc (Class A)		142,406
26,172		Edison International		1,020,708
3,435		El Paso Corp		51,525
5,800		Energen Corp		222,778
11,845		Energy East Corp		283,451
16,581		Entergy Corp		1,173,106
8,298		Exelon Corp		471,575
26,483		FirstEnergy Corp		1,435,643
32,456		FPL Group, Inc		1,343,029
6,077		Great Plains Energy, Inc		169,305
6,181		Hawaiian Electric Industries, Inc		172,512
13,822		KeySpan Corp		558,409
9,291		MDU Resources Group, Inc		340,144
24,099	*	Mirant Corp		645,853
6,750		National Fuel Gas Co		237,195
21,999		NiSource, Inc		480,458
12,333		Northeast Utilities		254,923
7,722	*	NRG Energy, Inc		372,046
8,732		NSTAR		249,735
6,885		OGE Energy Corp		241,182
8,809		Oneok, Inc		299,858
15,278		Pepco Holdings, Inc		360,255
27,866		PG&E Corp		1,094,576
8,287		Pinnacle West Capital Corp		330,734
30,573		PPL Corp		987,508
20,277		Progress Energy, Inc		869,275
20,189		Public Service Enterprise Group, Inc		1,334,897
9,070		Puget Energy, Inc		194,824
793		Questar Corp		63,829
23,481	*	Reliant Energy, Inc		281,302
557		Republic Services, Inc		22,469
9,074		SCANA Corp		350,075
20,813		Sempra Energy		946,575
16,124	*	Sierra Pacific Resources		225,736
59,612		Southern Co		1,910,565
8,010		Southern Union Co		216,751
16,357		TECO Energy, Inc		244,374
7,664		UGI Corp		188,688
6,077		Vectren Corp		165,598
304		Western Gas Resources, Inc		18,194

83

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
11,498		Williams Cos, Inc	$	268,593
9,396		Wisconsin Energy Corp		378,659
3,314		WPS Resources Corp		164,374
32,147		Xcel Energy, Inc		616,579
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		32,240,669
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.46%
1,097	*	ADC Telecommunications, Inc		18,495
8,396		American Power Conversion Corp		163,638
34,479	*	Atmel Corp		191,359
5,539	*	Avnet, Inc		110,891
2,599		AVX Corp		41,038
36,384	*	Ciena Corp		175,007
3,181	*	Comverse Technology, Inc		62,888
2,047		Emerson Electric Co		171,559
1,002	*	Energizer Holdings, Inc		58,687
4,741	*	Fairchild Semiconductor International, Inc		86,144
17,601	*	Freescale Semiconductor, Inc (Class B)		517,469
36,382		Honeywell International, Inc		1,466,195
8,963	*	Integrated Device Technology, Inc		127,095
2,584	*	International Rectifier Corp		100,983
6,494		Intersil Corp (Class A)		150,986
9,082		L-3 Communications Holdings, Inc		684,964
8,934	*	LSI Logic Corp		79,959
166,375	*	Lucent Technologies, Inc		402,628
31,669	*	Micron Technology, Inc		476,935
42,463		Motorola, Inc		855,630
5,272	*	Novellus Systems, Inc		130,218
2,556		RadioShack Corp		35,784
21,827	*	Sanmina-SCI Corp		100,404
2,910	*	Spansion, Inc		46,385
1,027	*	Spectrum Brands, Inc		13,269
3,237		Teleflex, Inc		174,863
35,896	*	Tellabs, Inc		477,776
10,774	*	Vishay Intertechnology, Inc		169,475
5,860		Whirlpool Corp		484,329
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		7,575,053
ENGINEERING AND MANAGEMENT SERVICES - 0.08%
3,841	*	Hewitt Associates, Inc		86,346
6,449	*	Shaw Group, Inc		179,282
3,880	*	URS Corp		162,960
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		428,588
FABRICATED METAL PRODUCTS - 0.18%
1,831	*	Alliant Techsystems, Inc		139,797
9,658		Commercial Metals Co		248,210
4,263		Crane Co		177,341
5,079		Pentair, Inc		173,651
4,311		Snap-On, Inc		174,251
		TOTAL FABRICATED METAL PRODUCTS		913,250
FOOD AND KINDRED PRODUCTS - 2.58%
22,384		Anheuser-Busch Cos, Inc		1,020,487

84

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
52,564		Archer Daniels Midland Co	$	2,169,842
8,480		Campbell Soup Co		314,693
55,334		Coca-Cola Co		2,380,469
23,424		Coca-Cola Enterprises, Inc		477,147
41,643		ConAgra Foods, Inc		920,727
13,109	*	Constellation Brands, Inc (Class A)		327,725
5,959		Corn Products International, Inc		182,345
15,851		Del Monte Foods Co		178,007
25,278		General Mills, Inc		1,305,861
11,626		H.J. Heinz Co		479,224
1,704		Hershey Co		93,839
5,539		Hormel Foods Corp		205,718
4,659		J.M. Smucker Co		208,257
5,181		Kellogg Co		250,916
16,946		Kraft Foods, Inc (Class A)		523,631
2,308		McCormick & Co, Inc		77,433
3,732		Molson Coors Brewing Co (Class B)		253,328
5,350		Pepsi Bottling Group, Inc		172,003
5,143		PepsiAmericas, Inc		113,712
6,682		Reynolds American, Inc		770,435
28,993		Sara Lee Corp		464,468
7,935	*	Smithfield Foods, Inc		228,766
18,606		Tyson Foods, Inc (Class A)		276,485
		TOTAL FOOD AND KINDRED PRODUCTS		13,395,518
FOOD STORES - 0.31%
50,819		Kroger Co		1,110,903
15,972		Supervalu, Inc		490,341
		TOTAL FOOD STORES		1,601,244
FORESTRY - 0.28%
5,500		Rayonier, Inc		208,505
19,756		Weyerhaeuser Co		1,229,811
		TOTAL FORESTRY		1,438,316
FURNITURE AND FIXTURES - 0.24%
2,653		Hillenbrand Industries, Inc		128,671
6,765		Johnson Controls, Inc		556,218
6,656		Leggett & Platt, Inc		166,267
12,570		Masco Corp		372,575
		TOTAL FURNITURE AND FIXTURES		1,223,731
FURNITURE AND HOMEFURNISHINGS STORES - 0.06%
1,261		Circuit City Stores, Inc		34,324
3,770	*	Mohawk Industries, Inc		265,220
1,410		Steelcase, Inc (Class A)		23,194
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		322,738
GENERAL BUILDING CONTRACTORS - 0.35%
1,990		Beazer Homes USA, Inc		91,281
5,309		Centex Corp		267,043
11,596		DR Horton, Inc		276,217
3,132		KB Home		143,602
6,545		Lennar Corp (Class A)		290,402

85

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
260		Lennar Corp (Class B)	$	10,605
1,544		MDC Holdings, Inc		80,180
8,632		Pulte Homes, Inc		248,515
2,336		Ryland Group, Inc		101,780
3,315		Standard-Pacific Corp		85,195
8,384	*	Toll Brothers, Inc		214,379
		TOTAL GENERAL BUILDING CONTRACTORS		1,809,199
GENERAL MERCHANDISE STORES - 0.55%
5,432	*	BJ's Wholesale Club, Inc		153,997
12,194		Costco Wholesale Corp		696,643
5,025		Dillard's, Inc (Class A)		160,046
1,687		Dollar General Corp		23,585
5,805		Family Dollar Stores, Inc		141,816
40,610		Federated Department Stores, Inc		1,486,326
10,913		Saks, Inc		176,463
		TOTAL GENERAL MERCHANDISE STORES		2,838,876
HEALTH SERVICES - 1.06%
13,606		AmerisourceBergen Corp		570,363
2,775		Caremark Rx, Inc		138,389
9,410		Cigna Corp		926,979
3,083	*	Community Health Systems, Inc		113,300
14,361		Health Management Associates, Inc (Class A)		283,055
3,000	*	LifePoint Hospitals, Inc		96,390
7,393		McKesson Corp		349,541
9,327	*	Medco Health Solutions, Inc		534,251
12,236	*	Tenet Healthcare Corp		85,407
5,867	*	Triad Hospitals, Inc		232,216
2,830		Universal Health Services, Inc (Class B)		142,236
27,637	*	WellPoint, Inc		2,011,145
		TOTAL HEALTH SERVICES		5,483,272
HOLDING AND OTHER INVESTMENT OFFICES - 5.54%
11,230		Allied Capital Corp		323,087
7,070		AMB Property Corp		357,389
11,901		Annaly Mortgage Management, Inc		152,452
7,503		Apartment Investment & Management Co (Class A)		326,005
17,168		Archstone-Smith Trust		873,336
5,975		AvalonBay Communities, Inc		660,955
9,171		Boston Properties, Inc		829,058
7,303		Brandywine Realty Trust		234,938
4,349		BRE Properties, Inc (Class A)		239,195
4,528		Camden Property Trust		333,034
4,725		CarrAmerica Realty Corp		210,499
5,162		CBL & Associates Properties, Inc		200,957
3,655		Colonial Properties Trust		180,557
5,089		Developers Diversified Realty Corp		265,544
10,888		Duke Realty Corp		382,713
29,416		Equity Office Properties Trust		1,073,978
23,395		Equity Residential		1,046,458
1,045		Essex Property Trust, Inc		116,685
2,090		Federal Realty Investment Trust		146,300
6,721		General Growth Properties, Inc		302,848

86

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
10,608		Health Care Property Investors, Inc	$	283,658
4,989		Health Care REIT, Inc		174,366
5,296		Hospitality Properties Trust		232,600
41,590		Host Marriott Corp		909,573
18,421		HRPT Properties Trust		212,947
153,800		iShares Russell 1000 Value Index Fund		11,245,856
9,288		iStar Financial, Inc		350,622
16,996		Kimco Realty Corp		620,184
6,786		Liberty Property Trust		299,941
5,009		Mack-Cali Realty Corp		230,013
3,617		New Century Financial Corp		165,478
7,818		New Plan Excel Realty Trust		193,026
20,040		NTL, Inc		498,996
2,639		Pan Pacific Retail Properties, Inc		183,067
14,777		Plum Creek Timber Co, Inc		524,583
19,640		Prologis		1,023,637
3,654		Public Storage, Inc		277,339
6,146		Reckson Associates Realty Corp		254,321
5,146		Regency Centers Corp		319,824
7,920		Simon Property Group, Inc		656,885
1,954		Taubman Centers, Inc		79,919
8,742		Thornburg Mortgage, Inc		243,640
7,894		Trizec Properties, Inc		226,084
3,370		Ventas, Inc		114,176
9,791		Vornado Realty Trust		955,112
4,881		Weingarten Realty Investors		186,845
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		28,718,680
HOTELS AND OTHER LODGING PLACES - 0.03%
2,917		Starwood Hotels & Resorts Worldwide, Inc		176,012
		TOTAL HOTELS AND OTHER LODGING PLACES		176,012
INDUSTRIAL MACHINERY AND EQUIPMENT - 1.76%
6,783	*	AGCO Corp		178,529
504		Black & Decker Corp		42,568
372		Carlisle Cos, Inc		29,500
685		Cummins, Inc		83,741
18,833		Deere & Co		1,572,367
1,068		Diebold, Inc		43,382
1,748		Dover Corp		86,404
390	*	Dresser-Rand Group, Inc		9,157
12,050		Eaton Corp		908,570
22,967	*	EMC Corp		251,948
3,853	*	Flowserve Corp		219,236
88,715		Hewlett-Packard Co		2,810,491
11,336		International Business Machines Corp		870,832
3,181		Kennametal, Inc		198,017
4,836		Lennox International, Inc		128,057
2,004	*	Lexmark International, Inc		111,883
8,701		Pall Corp		243,628
5,362		Parker Hannifin Corp		416,091
36,427	*	Solectron Corp		124,580
4,806		SPX Corp		268,896
2,026		Stanley Works		95,668

87

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,158		Symbol Technologies, Inc	$	34,075
2,119	*	Terex Corp		209,145
6,240		Timken Co		209,102
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		9,145,867
INSTRUMENTS AND RELATED PRODUCTS - 0.95%
2,917		Applera Corp (Applied Biosystems Group)		94,365
3,601		Bausch & Lomb, Inc		176,593
1,775		Cooper Cos, Inc		78,615
2,220		DRS Technologies, Inc		108,225
22,393		Eastman Kodak Co		532,505
4,067	*	Fisher Scientific International, Inc		297,094
27,117		Johnson & Johnson		1,624,851
3,370		Kla-Tencor Corp		140,091
4,381		PerkinElmer, Inc		91,563
7,425		Pitney Bowes, Inc		306,653
1,948		Tektronix, Inc		57,310
4,606	*	Teradyne, Inc		64,162
9,209	*	Thermo Electron Corp		333,734
74,788	*	Xerox Corp		1,040,301
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		4,946,062
INSURANCE AGENTS, BROKERS AND SERVICE - 0.82%
25,599		AON Corp		891,357
5,414		Gallagher (Arthur J.) & Co		137,191
24,354		Hartford Financial Services Group, Inc		2,060,349
44,151		Marsh & McLennan Cos, Inc		1,187,220
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		4,276,117
INSURANCE CARRIERS - 7.21%
22,858		Aetna, Inc		912,720
420	*	Alleghany Corp		116,071
51,055		Allstate Corp		2,794,240
7,773		Ambac Financial Group, Inc		630,390
4,209		American Financial Group, Inc		180,566
153,740		American International Group, Inc		9,078,347
1,139		American National Insurance Co		147,751
3,422		AmerUs Group Co		200,358
10,362		Assurant, Inc		501,521
33,331		Chubb Corp		1,663,217
12,567		Cincinnati Financial Corp		590,775
1,647	*	CNA Financial Corp		54,285
11,200	*	Conseco, Inc		258,720
4,317		Erie Indemnity Co (Class A)		224,484
14,001		Fidelity National Financial, Inc		545,339
2,723		Fidelity National Title Group, Inc		53,561
6,872		First American Corp		290,479
36,642		Genworth Financial, Inc		1,276,607
2,606		Hanover Insurance Group, Inc		123,681
4,064		HCC Insurance Holdings, Inc		119,644
749	*	Health Net, Inc		33,832
12,608		Leucadia National Corp		368,028
22,536		Lincoln National Corp		1,271,932
35,614		Loews Corp		1,262,516

88

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
635	*	Markel Corp	$	220,345
10,761		MBIA, Inc		630,057
2,274		Mercury General Corp		128,185
37,181		Metlife, Inc		1,904,039
7,253		MGIC Investment Corp		471,445
3,957		Nationwide Financial Services, Inc (Class A)		174,425
17,830		Old Republic International Corp		381,027
1,143	*	Philadelphia Consolidated Holding Co		34,701
6,806		PMI Group, Inc		303,411
20,804		Principal Financial Group		1,157,743
45,903		Progressive Corp		1,180,166
5,657		Protective Life Corp		263,729
33,897		Prudential Financial, Inc		2,633,797
6,817		Radian Group, Inc		421,154
2,591		Reinsurance Group Of America, Inc		127,348
9,483		Safeco Corp		534,367
55,913		St. Paul Travelers Cos, Inc		2,492,602
4,168		Stancorp Financial Group, Inc		212,193
8,371		Torchmark Corp		508,287
1,412		Transatlantic Holdings, Inc		78,931
3,808		Unitrin, Inc		165,991
23,184		UnumProvident Corp		420,326
5,966		W.R. Berkley Corp		203,620
116		Wesco Financial Corp		44,196
		TOTAL INSURANCE CARRIERS		37,391,149
JUSTICE, PUBLIC ORDER AND SAFETY - 0.01%
1,093	*	Corrections Corp of America		57,863
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		57,863
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.04%
8,021		Laidlaw International, Inc		202,129
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		202,129
LUMBER AND WOOD PRODUCTS - 0.04%
8,218		Louisiana-Pacific Corp		179,974
		TOTAL LUMBER AND WOOD PRODUCTS		179,974
METAL MINING - 0.35%
6,992		Freeport-McMoRan Copper & Gold, Inc (Class A)		387,426
1,818		Newmont Mining Corp		96,227
16,374		Phelps Dodge Corp		1,345,288
		TOTAL METAL MINING		1,828,941
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.25%
7,744		Fortune Brands, Inc		549,902
13,819		Hasbro, Inc		250,262
31,302		Mattel, Inc		516,796
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,316,960
MISCELLANEOUS RETAIL - 0.40%
2,665		Barnes & Noble, Inc		97,273
6,240		CVS Corp		191,568
7,585	*	Dollar Tree Stores, Inc		201,002

89

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,339		OfficeMax, Inc	$	217,564
39,508	*	Rite Aid Corp		167,514
6,844	*	Sears Holdings Corp		1,059,725
4,566		Tiffany & Co		150,769
		TOTAL MISCELLANEOUS RETAIL		2,085,415
MOTION PICTURES - 1.97%
390	*	Avid Technology, Inc		12,999
16,115	*	Discovery Holding Co (Class A)		235,762
1,205	*	DreamWorks Animation SKG, Inc (Class A)		27,594
59,560		News Corp (Class A)		1,142,361
313,829		Time Warner, Inc		5,429,242
113,042		Walt Disney Co		3,391,260
		TOTAL MOTION PICTURES		10,239,218
NONDEPOSITORY INSTITUTIONS - 2.00%
10,142		American Capital Strategies Ltd		339,554
7,981	*	AmeriCredit Corp		222,830
20,281		Capital One Financial Corp		1,733,011
2,012		CapitalSource, Inc		47,202
15,610		CIT Group, Inc		816,247
48,766		Countrywide Financial Corp		1,857,009
77,945		Fannie Mae		3,749,155
27,518		Freddie Mac		1,568,801
322		Student Loan Corp		65,044
		TOTAL NONDEPOSITORY INSTITUTIONS		10,398,853
OIL AND GAS EXTRACTION - 1.82%
36,604		Anadarko Petroleum Corp		1,745,645
26,543		Apache Corp		1,811,560
3,927		Cabot Oil & Gas Corp (Class A)		192,423
27,244		Chesapeake Energy Corp		824,131
6,619		Cimarex Energy Co		284,617
35,341		Devon Energy Corp		2,134,950
836		Equitable Resources, Inc		28,006
4,083	*	Forest Oil Corp		135,392
930	*	National Oilwell Varco, Inc		58,888
10,333	*	Newfield Exploration Co		505,697
14,233		Noble Energy, Inc		666,958
10,384		Pioneer Natural Resources Co		481,921
4,614		Pogo Producing Co		212,705
2,426	*	Pride International, Inc		75,764
626		Rowan Cos, Inc		22,279
1,810	*	SEACOR Holdings, Inc		148,601
2,043		Tidewater, Inc		100,516
155	*	Unit Corp		8,818
		TOTAL OIL AND GAS EXTRACTION		9,438,871
PAPER AND ALLIED PRODUCTS - 0.72%
8,563		Bemis Co		262,199
39,560		International Paper Co		1,277,788
15,539		Kimberly-Clark Corp		958,756
14,493		MeadWestvaco Corp		404,790
19,573	*	Smurfit-Stone Container Corp		214,129

90

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,765		Sonoco Products Co	$	245,762
8,579		Temple-Inland, Inc		367,782
		TOTAL PAPER AND ALLIED PRODUCTS		3,731,206
PERSONAL SERVICES - 0.04%
23,383		Service Corp International		190,338
		TOTAL PERSONAL SERVICES		190,338
PETROLEUM AND COAL PRODUCTS - 12.00%
5,119		Ashland, Inc		341,437
178,054		Chevron Corp		11,050,031
132,590		ConocoPhillips		8,688,623
10,700		EOG Resources, Inc		741,938
458,479		Exxon Mobil Corp		28,127,687
4,204		Frontier Oil Corp		136,210
19,443		Hess Corp		1,027,563
18,236		Kerr-McGee Corp		1,264,667
29,111		Marathon Oil Corp		2,424,946
14,995		Murphy Oil Corp		837,621
34,397		Occidental Petroleum Corp		3,527,412
5,301		Sunoco, Inc		367,306
5,511		Tesoro Corp		409,798
49,445		Valero Energy Corp		3,289,081
		TOTAL PETROLEUM AND COAL PRODUCTS		62,234,320
PRIMARY METAL INDUSTRIES - 0.73%
42,178		Alcoa, Inc		1,364,880
3,552		Hubbell, Inc (Class B)		169,253
24,936		Nucor Corp		1,352,778
3,909		Steel Dynamics, Inc		256,978
8,920		United States Steel Corp		625,470
		TOTAL PRIMARY METAL INDUSTRIES		3,769,359
PRINTING AND PUBLISHING - 0.61%
19,419		Gannett Co, Inc		1,086,105
4,269		McClatchy Co (Class A)		171,272
10,886		New York Times Co (Class A)		267,143
4,120		R.H. Donnelley Corp		222,768
17,364		R.R. Donnelley & Sons Co		554,780
18,466		Tribune Co		598,852
359		Washington Post Co (Class B)		280,024
		TOTAL PRINTING AND PUBLISHING		3,180,944
RAILROAD TRANSPORTATION - 0.51%
9,101		CSX Corp		641,074
3,850	*	Kansas City Southern Industries, Inc		106,645
14,626		Norfolk Southern Corp		778,396
11,754		Union Pacific Corp		1,092,652
		TOTAL RAILROAD TRANSPORTATION		2,618,767
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.10%
1,943	*	Jarden Corp		59,164
8,568		Newell Rubbermaid, Inc		221,312
4,102		Sealed Air Corp		213,632
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		494,108

91

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 3.22%
6,429		A.G. Edwards, Inc	$	355,652
17,259		Ameriprise Financial, Inc		770,960
9,670		Bear Stearns Cos, Inc		1,354,574
200	*	Cbot Holdings, Inc		23,918
2,615	*	E*Trade Financial Corp		59,674
490		Federated Investors, Inc (Class B)		15,435
7,480		Goldman Sachs Group, Inc		1,125,216
8,519		Janus Capital Group, Inc		152,490
9,519		Jefferies Group, Inc		282,048
4,497		Legg Mason, Inc		447,541
37,470		Lehman Brothers Holdings, Inc		2,441,171
60,623		Merrill Lynch & Co, Inc		4,216,936
76,680		Morgan Stanley		4,846,943
6,161	*	NYSE Group, Inc		421,905
6,697		Raymond James Financial, Inc		202,718
		TOTAL SECURITY AND COMMODITY BROKERS		16,717,181
SPECIAL TRADE CONTRACTORS - 0.02%
4,774	*	Quanta Services, Inc		82,734
		TOTAL SPECIAL TRADE CONTRACTORS		82,734
STONE, CLAY, AND GLASS PRODUCTS - 0.02%
1,683	b*	USG Corp		122,741
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		122,741
TOBACCO PRODUCTS - 1.42%
91,601		Altria Group, Inc		6,726,262
7,479		Loews Corp (Carolina Group)		384,196
5,827		UST, Inc		263,322
		TOTAL TOBACCO PRODUCTS		7,373,780
TRANSPORTATION BY AIR - 0.15%
4,003	*	AMR Corp		101,756
27,120		Southwest Airlines Co		443,955
7,912	*	UAL Corp		245,430
		TOTAL TRANSPORTATION BY AIR		791,141
TRANSPORTATION EQUIPMENT - 1.80%
2,402	*	Armor Holdings, Inc		131,702
6,658		Autoliv, Inc		376,643
6,167		Brunswick Corp		205,053
100	b	Dana Corp		264
144,866		Ford Motor Co		1,003,921
32,430		General Dynamics Corp		2,122,868
37,923		General Motors Corp		1,129,726
13,775		Genuine Parts Co		573,867
691		Goodrich Corp		27,841
4,932		ITT Industries, Inc		244,134
25,606		Northrop Grumman Corp		1,640,320
5,498		Paccar, Inc		452,925
18,618		Raytheon Co		829,804

92

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
706		Textron, Inc	$	65,079
3,821	*	TRW Automotive Holdings Corp		104,237
6,872		United Technologies Corp		435,822
		TOTAL TRANSPORTATION EQUIPMENT		9,344,206
TRANSPORTATION SERVICES - 0.06%
1,715		GATX Corp		72,888
10,395		Sabre Holdings Corp		228,690
		TOTAL TRANSPORTATION SERVICES		301,578
TRUCKING AND WAREHOUSING - 0.05%
1,847	*	Swift Transportation Co, Inc		58,660
4,707	*	YRC Worldwide, Inc		198,213
		TOTAL TRUCKING AND WAREHOUSING		256,873
WATER TRANSPORTATION - 0.05%
3,236		Alexander & Baldwin, Inc		143,258
2,329		Overseas Shipholding Group, Inc		137,760
		TOTAL WATER TRANSPORTATION		281,018
WHOLESALE TRADE-DURABLE GOODS - 3.06%
7,317		Adesa, Inc		162,730
8,952	*	Arrow Electronics, Inc		288,254
4,253		BorgWarner, Inc		276,870
429,420		General Electric Co		14,153,683
11,259	*	Ingram Micro, Inc (Class A)		204,126
5,025		Omnicare, Inc		238,286
2,639		Reliance Steel & Aluminum Co		218,905
4,463	*	Tech Data Corp		170,978
1,771		W.W. Grainger, Inc		133,232
		TOTAL WHOLESALE TRADE-DURABLE GOODS		15,847,064
WHOLESALE TRADE-NONDURABLE GOODS - 0.27%
346		Airgas, Inc		12,889
321		Brown-Forman Corp (Class B)		22,935
11,163	*	Dean Foods Co		415,152
36,132		Safeway, Inc		939,432
606		Valhi, Inc		14,877
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,405,285
		TOTAL COMMON STOCKS		517,803,886
		(Cost $460,595,491)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.06%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.06%
$     300,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		300,000
		TOTAL SHORT-TERM INVESTMENTS		300,000
		(Cost $299,919)

93

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES				VALUE
		TOTAL PORTFOLIO - 99.87%	$	518,103,886
		(Cost $460,895,410)
		OTHER ASSETS & LIABILITIES, NET - 0.13%		683,771
		NET ASSETS - 100.00%	$	518,787,657
	*	Non-income producing
	**	Percentage represents less than 0.01%
	b	In bankruptcy
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

94

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 98.91%
AGRICULTURAL PRODUCTION-CROPS - 0.00%**
1,774		Chiquita Brands International, Inc	$	24,446
		TOTAL AGRICULTURAL PRODUCTION-CROPS		24,446
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.01%
1,677		Pilgrim's Pride Corp		43,267
15		Seaboard Corp		19,200
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		62,467
AMUSEMENT AND RECREATION SERVICES - 0.25%
1,882	*	Bally Technologies, Inc		30,997
1,562	*	Bally Total Fitness Holding Corp		10,590
833	*	Century Casinos, Inc		8,921
416		Churchill Downs, Inc		15,579
309		Dover Downs Gaming & Entertainment, Inc		6,069
503		Dover Motorsports, Inc		2,953
5,341		GTECH Holdings Corp		185,760
7,478		Harrah's Entertainment, Inc		532,284
1,672		International Speedway Corp (Class A)		77,531
956	*	Lakes Entertainment, Inc		11,558
1,229	*	Leapfrog Enterprises, Inc		12,413
1,193	*	Life Time Fitness, Inc		55,200
2,578	*	Live Nation, Inc		52,488
1,658	*	Magna Entertainment Corp (Class A)		8,721
2,211	*	Marvel Entertainment, Inc		44,220
925	*	MTR Gaming Group, Inc		8,676
1,729	*	Multimedia Games, Inc		17,515
3,005	*	Penn National Gaming, Inc		116,534
2,181	*	Pinnacle Entertainment, Inc		66,848
3,899	*	Six Flags, Inc		21,912
697		Speedway Motorsports, Inc		26,305
3,844		Warner Music Group Corp		113,321
2,725		Westwood One, Inc		20,438
1,126	*	WMS Industries, Inc		30,841
544		World Wrestling Entertainment, Inc		9,188
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,486,862
APPAREL AND ACCESSORY STORES - 0.68%
3,585		Abercrombie & Fitch Co (Class A)		198,717
2,124	*	Aeropostale, Inc		61,362
4,750		American Eagle Outfitters, Inc		161,690
3,154	*	AnnTaylor Stores Corp		136,821
678		Bebe Stores, Inc		10,455
1,185		Brown Shoe Co, Inc		40,385
310		Buckle, Inc		12,980
524	*	Cache, Inc		9,086

95

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,018	*	Carter's, Inc	$	53,336
1,341	*	Casual Male Retail Group, Inc		13,477
1,629		Cato Corp (Class A)		42,110
676	*	Charlotte Russe Holding, Inc		16,183
5,554	*	Charming Shoppes, Inc		62,427
7,440	*	Chico's FAS, Inc		200,731
1,014	*	Children's Place Retail Stores, Inc		60,891
1,409		Christopher & Banks Corp		40,861
367	*	Citi Trends, Inc		15,667
4,118		Claire's Stores, Inc		105,050
175		DEB Shops, Inc		4,219
1,944	*	Dress Barn, Inc		49,280
700	*	DSW, Inc		25,494
1,593		Finish Line, Inc (Class A)		18,845
6,596		Foot Locker, Inc		161,536
22,356		Gap, Inc		388,994
1,910	*	HOT Topic, Inc		21,984
796	*	Jo-Ann Stores, Inc		11,661
921	*	JOS A Bank Clothiers, Inc		22,067
14,363	*	Kohl's Corp		849,141
14,173		Limited Brands, Inc		362,687
960	*	New York & Co, Inc		9,379
9,800		Nordstrom, Inc		357,700
2,890	*	Pacific Sunwear Of California, Inc		51,818
2,897	*	Payless Shoesource, Inc		78,711
6,095		Ross Stores, Inc		170,965
300	*	Shoe Carnival, Inc		7,158
1,009		Stage Stores, Inc		33,297
889		Talbots, Inc		16,402
3,252	*	The Wet Seal, Inc		15,870
1,434	*	Too, Inc		55,089
867	*	Under Armour, Inc		36,952
4,656	*	Urban Outfitters, Inc		81,433
		TOTAL APPAREL AND ACCESSORY STORES		4,072,911
APPAREL AND OTHER TEXTILE PRODUCTS - 0.18%
672	*	Columbia Sportswear Co		30,415
851	v*	DHB Industries, Inc		1,634
727	*	Guess ?, Inc		30,352
1,454	*	Gymboree Corp		50,541
893	*	Hartmarx Corp		5,358
4,595		Jones Apparel Group, Inc		146,075
962		Kellwood Co		28,158
4,347		Liz Claiborne, Inc		161,100
1,310	*	Maidenform Brands, Inc		16,152
2,301		Phillips-Van Heusen Corp		87,806
2,535		Polo Ralph Lauren Corp		139,172
4,736	*	Quiksilver, Inc		57,684
1,226		Russell Corp		22,264
539	*	True Religion Apparel, Inc		9,540
3,649		VF Corp		247,840
2,266	*	Warnaco Group, Inc		42,329
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,076,420

96

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
AUTO REPAIR, SERVICES AND PARKING - 0.07%
479	*	Amerco, Inc	$	48,216
356		Bandag, Inc		13,026
800		Central Parking Corp		12,800
1,141	*	Dollar Thrifty Automotive Group, Inc		51,425
711	*	Midas, Inc		13,082
379		Monro Muffler, Inc		12,340
2,301	*	PHH Corp		63,370
2,447		Ryder System, Inc		142,978
216	*	Standard Parking Corp		5,849
1,495	*	Wright Express Corp		42,966
		TOTAL AUTO REPAIR, SERVICES AND PARKING		406,052
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.17%
4,436		Advance Auto Parts		128,200
279	*	America's Car-Mart, Inc		5,666
381	*	Asbury Automotive Group, Inc		7,978
6,482	*	Autonation, Inc		138,974
2,309	*	Autozone, Inc		203,654
4,350	*	Carmax, Inc		154,251
2,706	*	Copart, Inc		66,459
2,524	*	CSK Auto Corp		30,212
514		Lithia Motors, Inc (Class A)		15,584
482	*	MarineMax, Inc		12,643
4,699	*	O'Reilly Automotive, Inc		146,562
806	*	Rush Enterprises, Inc (Class A)		14,645
1,090		Sonic Automotive, Inc		24,176
2,394		United Auto Group, Inc		51,112
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,000,116
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.93%
790	*	Builders FirstSource, Inc		16,084
1,010	*	Central Garden & Pet Co		43,480
5,140		Fastenal Co		207,091
88,025		Home Depot, Inc		3,150,415
32,268		Lowe's Cos, Inc		1,957,700
4,687		Sherwin-Williams Co		222,539
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		5,597,309
BUSINESS SERVICES - 6.96%
2,587	*	@Road, Inc		14,280
1,998	*	24/7 Real Media, Inc		17,542
16,227	*	3Com Corp		83,082
418	*	3D Systems Corp		8,398
1,856		Aaron Rents, Inc		49,889
1,811		ABM Industries, Inc		30,968
1,165	*	Acacia Research (Acacia Technologies)		16,380
11,491	*	Activision, Inc		130,767
2,370	*	Actuate Corp		9,575
3,737		Acxiom Corp		93,425
960		Administaff, Inc		34,378
24,893	*	Adobe Systems, Inc		755,751
881	*	Advent Software, Inc		31,778
1,357		Advo, Inc		33,396

97

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,689	*	Affiliated Computer Services, Inc (Class A)	$	241,999
2,399	*	Agile Software Corp		15,210
6,425	*	Akamai Technologies, Inc		232,521
3,472	*	Alliance Data Systems Corp		204,223
953	*	Altiris, Inc		17,192
1,081	*	American Reprographics Co		39,186
1,364	*	AMN Healthcare Services, Inc		27,689
408	*	Ansoft Corp		8,356
1,474	*	Ansys, Inc		70,487
3,169	*	aQuantive, Inc		80,271
1,158		Arbitron, Inc		44,386
2,717	*	Ariba, Inc		22,361
4,633	*	Art Technology Group, Inc		13,806
2,040	*	Aspen Technology, Inc		26,765
429	*	Asset Acceptance Capital Corp		8,494
340	*	Atari, Inc		194
1,613	*	Audible, Inc		14,662
9,456	*	Autodesk, Inc		325,854
24,092		Automatic Data Processing, Inc		1,092,572
2,004	*	Avocent Corp		52,631
359	*	Bankrate, Inc		13,556
281	*	Barrett Business Services		5,156
16,201	*	BEA Systems, Inc		212,071
7,893	*	BearingPoint, Inc		66,064
4,785	*	BISYS Group, Inc		65,555
1,828		Blackbaud, Inc		41,496
960	*	Blackboard, Inc		27,802
488	*	Blue Coat Systems, Inc		8,228
9,037	*	BMC Software, Inc		215,984
3,514	*	Borland Software Corp		18,554
411	*	Bottomline Technologies, Inc		3,346
1,736		Brady Corp (Class A)		63,954
2,101		Brink's Co		118,517
19,116		CA, Inc		392,834
1,267	*	CACI International, Inc (Class A)		73,904
11,397	*	Cadence Design Systems, Inc		195,459
1,999		Catalina Marketing Corp		56,892
2,796	*	CBIZ, Inc		20,718
41,587		Cendant Corp		677,452
6,218	*	Ceridian Corp		151,968
2,778	*	Cerner Corp		103,092
3,555	*	Checkfree Corp		176,186
3,664	*	ChoicePoint, Inc		153,045
3,232	*	Chordiant Software, Inc		9,793
2,008	*	Ciber, Inc		13,233
7,577	*	Citrix Systems, Inc		304,141
1,400	*	Clear Channel Outdoor Holdings, Inc		29,344
696	*	Click Commerce, Inc		13,732
17,104	*	CMGI, Inc		20,696
6,214	*	CNET Networks, Inc		49,595
1,400	*	Cogent Communications Group, Inc		13,118
1,614	*	Cogent, Inc		24,323
1,734		Cognex Corp		45,136
5,818	*	Cognizant Technology Solutions Corp		391,959

98

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
275		Computer Programs & Systems, Inc	$	10,989
7,755	*	Computer Sciences Corp		375,652
16,646	*	Compuware Corp		111,528
412	*	COMSYS IT Partners, Inc		6,229
1,428	*	Concur Technologies, Inc		22,091
1,156	*	Convera Corp		7,768
5,754	*	Convergys Corp		112,203
683	*	CoStar Group, Inc		40,864
1,008	*	Covansys Corp		12,671
1,975	*	CSG Systems International, Inc		48,861
1,489	*	Cybersource Corp		17,421
620	*	DealerTrack Holdings, Inc		13,708
2,010		Deluxe Corp		35,135
1,616	*	Dendrite International, Inc		14,932
1,333	*	Digital Insight Corp		45,709
1,560	*	Digital River, Inc		63,008
2,494	*	DST Systems, Inc		148,393
5,336	*	Earthlink, Inc		46,218
48,940	*	eBay, Inc		1,433,453
1,354	*	Echelon Corp		10,141
1,630	*	Eclipsys Corp		29,601
779	*	eCollege.com, Inc		16,468
2,012	*	eFunds Corp		44,386
721	*	Electro Rent Corp		11,550
12,669	*	Electronic Arts, Inc		545,274
21,469		Electronic Data Systems Corp		516,544
872	*	Emageon, Inc		12,722
11,369	*	Emdeon Corp		141,089
1,888	*	Epicor Software Corp		19,881
566	*	EPIQ Systems, Inc		9,418
5,572		Equifax, Inc		191,342
1,195	*	Equinix, Inc		65,558
1,308	*	eSpeed, Inc (Class A)		10,896
9,532	*	Expedia, Inc		142,694
1,567	*	F5 Networks, Inc		83,803
1,737		Factset Research Systems, Inc		82,160
2,749		Fair Isaac Corp		99,816
1,503	*	FalconStor Software, Inc		10,476
4,181		Fidelity National Information Services, Inc		148,007
1,705	*	Filenet Corp		45,916
31,981		First Data Corp		1,440,424
7,368	*	Fiserv, Inc		334,212
553	*	Forrester Research, Inc		15,473
1,310	*	FTD Group, Inc		17,685
2,383	*	Gartner, Inc (Class A)		33,839
931	*	Gerber Scientific, Inc		12,112
2,158	*	Getty Images, Inc		137,055
1,114		Gevity HR, Inc		29,577
1,230	*	Global Cash Access, Inc		19,225
8,675	*	Google, Inc (Class A)		3,637,688
490	*	H&E Equipment Services, Inc		14,431
1,142		Healthcare Services Group		23,925
880	*	Heartland Payment Systems, Inc		24,534
703	*	Heidrick & Struggles International, Inc		23,790

99

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
908	*	Hudson Highland Group, Inc	$	9,797
2,511	*	Hypercom Corp		23,478
2,508	*	Hyperion Solutions Corp		69,221
610	*	i2 Technologies, Inc		7,729
289	*	ICT Group, Inc		7,089
416	*	iGate Corp		2,658
880	*	IHS, Inc		26,074
8,389		IMS Health, Inc		225,245
766	*	Infocrossing, Inc		8,847
3,809	*	Informatica Corp		50,126
1,205	*	Infospace, Inc		27,317
1,630		infoUSA, Inc		16,805
311	*	Innovative Solutions & Support, Inc		4,373
303		Integral Systems, Inc		8,129
1,387	*	Interactive Data Corp		27,865
1,320	*	Intergraph Corp		41,567
12,613	*	Internap Network Services Corp		13,244
1,311	*	Internet Capital Group, Inc		11,799
1,430	*	Internet Security Systems, Inc		26,956
294		Interpool, Inc		6,533
17,730	*	Interpublic Group of Cos, Inc		148,046
1,836	*	Interwoven, Inc		15,753
7,233	*	Intuit, Inc		436,801
1,215	*	inVentiv Health, Inc		34,968
2,049	*	Ipass, Inc		11,474
4,764	*	Iron Mountain, Inc		178,078
3,304		Jack Henry & Associates, Inc		64,957
1,242	*	JDA Software Group, Inc		17,425
23,311	*	Juniper Networks, Inc		372,743
758	*	Jupitermedia Corp		9,854
1,398	*	Kanbay International, Inc		20,327
2,103	*	Keane, Inc		26,288
690		Kelly Services, Inc (Class A)		18,747
660	*	Kenexa Corp		21,021
1,645	*	Kforce, Inc		25,481
3,090	*	KFX, Inc		47,215
1,870	*	Kinetic Concepts, Inc		82,561
591	*	Knot, Inc		12,370
1,761	*	Korn/Ferry International		34,498
1,294	*	Kronos, Inc		46,856
2,302	*	Labor Ready, Inc		52,140
3,541	*	Lamar Advertising Co		190,718
5,131	*	Lawson Software, Inc		34,378
2,268	*	Lionbridge Technologies		12,542
609	*	LoJack Corp		11,486
1,019	*	Magma Design Automation, Inc		7,490
1,298	*	Manhattan Associates, Inc		26,336
3,683		Manpower, Inc		237,922
757	*	Mantech International Corp (Class A)		23,361
1,017	*	Mapinfo Corp		13,272
747	*	Marchex, Inc		12,273
270	*	Marlin Business Services, Inc		6,091
2,556	*	Mastercard, Inc		122,688
6,787	*	McAfee, Inc		164,720

100

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,070	*	Mentor Graphics Corp	$	39,849
368,851		Microsoft Corp		8,594,228
431	*	MicroStrategy, Inc		42,031
892	*	Midway Games, Inc		7,216
3,502		MoneyGram International, Inc		118,893
5,142	*	Monster Worldwide, Inc		219,358
5,050	*	Move, Inc		27,674
4,139	*	MPS Group, Inc		62,333
956	*	MRO Software, Inc		19,187
3,858	*	NAVTEQ Corp		172,375
1,341	*	NCO Group, Inc		35,456
7,752	*	NCR Corp		284,033
813	*	Neoware, Inc		9,992
618	*	Ness Technologies, Inc		6,644
1,654	*	NetFlix, Inc		45,005
2,537	*	NetIQ Corp		30,926
655	*	Netratings, Inc		9,098
856	*	Netscout Systems, Inc		7,636
1,304	*	NIC, Inc		9,428
14,931	*	Novell, Inc		98,999
5,354	*	Nuance Communications, Inc		53,861
7,144		Omnicom Group, Inc		636,459
1,078	*	On Assignment, Inc		9,907
807	*	Online Resources Corp		8,344
613	*	Open Solutions, Inc		16,312
538	*	Opnet Technologies, Inc		6,972
4,039	*	Opsware, Inc		33,281
165,195	*	Oracle Corp		2,393,676
2,039	*	Packeteer, Inc		23,122
4,380	*	Parametric Technology Corp		55,670
503	*	PDF Solutions, Inc		6,242
613		Pegasystems, Inc		3,935
771	*	PeopleSupport, Inc		10,378
714	*	Perficient, Inc		8,825
3,744	*	Perot Systems Corp (Class A)		54,213
1,398	*	Phase Forward, Inc		16,105
554	*	Portfolio Recovery Associates, Inc		25,318
732	*	PRA International		16,302
2,440	*	Premiere Global Services, Inc		18,422
1,829	*	Progress Software Corp		42,817
1,027		QAD, Inc		7,959
689		Quality Systems, Inc		25,369
2,773	*	Quest Software, Inc		38,933
795	*	Radiant Systems, Inc		8,403
699	*	Radisys Corp		15,350
4,968	*	RealNetworks, Inc		53,158
7,542	*	Red Hat, Inc		176,483
2,214	*	Redback Networks, Inc		40,605
412		Renaissance Learning, Inc		5,583
2,888	*	Rent-A-Center, Inc		71,796
1,124	*	Rewards Network, Inc		9,183
2,921		Reynolds & Reynolds Co (Class A)		89,587
440	*	RightNow Technologies, Inc		7,339
6,373		Robert Half International, Inc		267,666

101

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,091		Rollins, Inc	$	21,427
2,833	*	RSA Security, Inc		77,029
3,176	*	S1 Corp		15,245
944	*	SafeNet, Inc		16,728
3,513	*	Salesforce.com, Inc		93,657
3,580	*	Sapient Corp		18,974
1,837	*	Secure Computing Corp		15,798
12,676		ServiceMaster Co		130,943
524	*	SI International, Inc		16,066
2,431	*	Sitel Corp		9,530
839	*	Smith Micro Software, Inc		13,441
1,113	*	Sohu.com, Inc		28,704
2,560	*	SonicWALL, Inc		23,014
11,291	*	Sonus Networks, Inc		55,890
2,522	*	Sotheby's Holdings, Inc (Class A)		66,203
3,234	*	Spherion Corp		29,494
771	*	SPSS, Inc		24,780
1,601	*	SRA International, Inc (Class A)		42,635
448	*	SSA Global Technologies, Inc		8,682
485		Startek, Inc		7,251
780		Stellent, Inc		7,449
405	*	Stratasys, Inc		11,931
145,303	*	Sun Microsystems, Inc		603,007
3,689	*	Sybase, Inc		71,567
960	*	SYKES Enterprises, Inc		15,514
43,349	*	Symantec Corp		673,643
358	*	SYNNEX Corp		6,788
5,718	*	Synopsys, Inc		107,327
195		Syntel, Inc		3,990
2,571	*	Take-Two Interactive Software, Inc		27,407
880	*	TAL International Group, Inc		21,208
567	*	Taleo Corp		6,685
1,228		Talx Corp		26,856
1,701	*	TeleTech Holdings, Inc		21,535
748		TheStreet.com, Inc		9,589
2,497	*	THQ, Inc		53,935
8,235	*	TIBCO Software, Inc		58,057
989	*	TNS, Inc		20,462
1,817		Total System Services, Inc		34,977
770	*	TradeStation Group, Inc		9,756
1,675	*	Transaction Systems Architects, Inc		69,831
247	*	Travelzoo, Inc		7,494
1,360	*	Trizetto Group, Inc		20,114
751	*	Ultimate Software Group, Inc		14,389
14,286	*	Unisys Corp		89,716
2,150		United Online, Inc		25,800
2,773	*	United Rentals, Inc		88,681
1,256	*	Universal Compression Holdings, Inc		79,090
2,589	*	VA Software Corp		10,045
4,254	*	Valueclick, Inc		65,299
892	*	Vasco Data Security International		7,448
409	*	Verint Systems, Inc		11,939
10,040	*	VeriSign, Inc		232,627
346	*	Vertrue, Inc		14,888

102

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
948		Viad Corp	$	29,672
1,286	*	Vignette Corp		18,750
310	*	Volt Information Sciences, Inc		14,446
22,657		Waste Management, Inc		812,933
1,742	*	WebEx Communications, Inc		61,911
173	*	WebMD Health Corp		8,183
1,961	*	webMethods, Inc		19,355
1,768	*	Websense, Inc		36,315
714	*	WebSideStory, Inc		8,711
2,710	*	Wind River Systems, Inc		24,119
1,573	*	Witness Systems, Inc		31,727
58,543	*	Yahoo!, Inc		1,931,919
		TOTAL BUSINESS SERVICES		41,690,160
CHEMICALS AND ALLIED PRODUCTS - 9.04%
63,436		Abbott Laboratories		2,766,444
1,299	*	Abraxis BioScience, Inc		30,968
1,230	*	Acadia Pharmaceuticals, Inc		10,381
620	*	Adams Respiratory Therapeutics, Inc		27,664
642	*	Adeza Biomedical Corp		9,001
2,100	*	Adolor Corp		52,521
338	*	Advanced Magnetics, Inc		10,214
2,243	*	ADVENTRX Pharmaceuticals, Inc		7,110
9,316		Air Products & Chemicals, Inc		595,479
1,192	*	Albany Molecular Research, Inc		12,730
1,497		Albemarle Corp		71,676
3,296		Alberto-Culver Co		160,581
1,305	*	Alexion Pharmaceuticals, Inc		47,137
3,737	*	Alkermes, Inc		70,704
1,315	*	Alnylam Pharmaceuticals, Inc		19,830
1,840		Alpharma, Inc (Class A)		44,234
1,829	*	American Oriental Bioengineering, Inc		10,114
492		American Vanguard Corp		7,616
49,016	*	Amgen, Inc		3,197,314
2,993	*	Andrx Corp		69,408
1,008		Arch Chemicals, Inc		36,338
2,244	*	Arena Pharmaceuticals, Inc		25,985
1,295	*	Array Biopharma, Inc		11,137
2,020	*	Atherogenics, Inc		26,361
928	*	Auxilium Pharmaceuticals, Inc		7,220
1,024	*	AVANIR Pharmaceuticals		7,004
3,919		Avery Dennison Corp		227,537
2,141	*	AVI BioPharma, Inc		8,029
19,032		Avon Products, Inc		589,992
445		Balchem Corp		10,013
4,410	*	Barr Pharmaceuticals, Inc		210,313
877	*	Bentley Pharmaceuticals, Inc		9,612
950	*	BioCryst Pharmaceuticals, Inc		13,613
2,436	*	Bioenvision, Inc		12,984
14,418	*	Biogen Idec, Inc		667,986
3,144	*	BioMarin Pharmaceuticals, Inc		45,179
580	*	Bradley Pharmaceuticals, Inc		5,916
81,726		Bristol-Myers Squibb Co		2,113,434
2,693		Cabot Corp		92,962

103

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,404		Calgon Carbon Corp	$	8,550
1,245		Cambrex Corp		25,933
495	*	Caraco Pharmaceutical Laboratories Ltd		4,529
3,154		Celanese Corp (Series A)		64,405
1,393	*	Cell Genesys, Inc		6,993
2,476	*	Cephalon, Inc		148,808
2,271		CF Industries Holdings, Inc		32,384
3,001	*	Charles River Laboratories International, Inc		110,437
678	*	Chattem, Inc		20,591
9,815		Chemtura Corp		91,672
2,764		Church & Dwight Co, Inc		100,665
6,414		Clorox Co		391,061
769	*	Coley Pharmaceutical Group, Inc		8,882
21,611		Colgate-Palmolive Co		1,294,499
996	*	Combinatorx, Inc		8,755
1,299	*	Connetics Corp		15,276
1,129	*	Conor Medsystems, Inc		31,149
1,310	*	Cotherix, Inc		11,279
2,467	*	Cubist Pharmaceuticals, Inc		62,119
637	*	Cypress Bioscience, Inc		3,911
1,643		Cytec Industries, Inc		88,163
1,097	*	Cytokinetics, Inc		6,900
3,726		Dade Behring Holdings, Inc		155,151
3,860	*	Dendreon Corp		18,682
989		Diagnostic Products Corp		57,530
730	*	Digene Corp		28,280
39,966		Dow Chemical Co		1,559,912
38,283		Du Pont (E.I.) de Nemours & Co		1,592,573
1,706	*	Durect Corp		6,602
3,405		Eastman Chemical Co		183,870
7,569		Ecolab, Inc		307,150
40,868		Eli Lilly & Co		2,258,774
813	*	Elizabeth Arden, Inc		14,536
957	*	Emisphere Technologies, Inc		8,163
3,151	*	Encysive Pharmaceuticals, Inc		21,836
1,573	*	Enzon Pharmaceuticals, Inc		11,860
5,199		Estee Lauder Cos (Class A)		201,045
1,407		Ferro Corp		22,456
1,712		FMC Corp		110,236
13,587	*	Forest Laboratories, Inc		525,681
19,435	*	Genentech, Inc		1,589,783
834	*	Genitope Corp		5,271
5,606	*	Genta, Inc		9,194
10,813	*	Genzyme Corp		660,138
1,253		Georgia Gulf Corp		31,350
1,819	*	Geron Corp		12,551
18,917	*	Gilead Sciences, Inc		1,119,130
1,077		H.B. Fuller Co		46,925
1,178	*	Hana Biosciences, Inc		10,684
4,347	*	Hercules, Inc		66,335
296	*	Hi-Tech Pharmacal Co, Inc		4,905
6,617	*	Hospira, Inc		284,134
5,385	*	Human Genome Sciences, Inc		57,620
3,611	*	Huntsman Corp		62,542

104

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,622	*	Idenix Pharmaceuticals, Inc	$	15,247
1,381	*	Idexx Laboratories, Inc		103,755
2,746	*	ImClone Systems, Inc		106,105
2,630	*	Immucor, Inc		50,575
1,938	*	Indevus Pharmaceuticals, Inc		10,601
582		Innospec, Inc		14,794
275		Inter Parfums, Inc		4,736
1,385	*	InterMune, Inc		22,783
3,784		International Flavors & Fragrances, Inc		133,348
1,156	*	Inverness Medical Innovations, Inc		32,634
2,128	*	Invitrogen Corp		140,662
10,299	*	King Pharmaceuticals, Inc		175,100
412		Koppers Holdings, Inc		8,236
764	*	Kos Pharmaceuticals, Inc		28,742
180		Kronos Worldwide, Inc		5,265
1,591	*	KV Pharmaceutical Co (Class A)		29,688
2,842		Lubrizol Corp		113,254
8,863		Lyondell Chemical Co		200,836
1,061		MacDermid, Inc		30,557
530		Mannatech, Inc		6,683
1,118	*	MannKind Corp		23,825
1,163	*	Martek Biosciences Corp		33,669
5,142	*	Medarex, Inc		49,415
1,977	*	Medicines Co		38,650
2,058		Medicis Pharmaceutical Corp (Class A)		49,392
482	*	Medifast, Inc		8,613
10,199	*	Medimmune, Inc		276,393
90,806		Merck & Co, Inc		3,308,063
621		Meridian Bioscience, Inc		15,494
884	*	Metabasis Therapeutics, Inc		6,745
3,240	*	MGI Pharma, Inc		69,660
12,846	*	Millennium Pharmaceuticals, Inc		128,075
966		Minerals Technologies, Inc		50,232
700	*	Momenta Pharmaceuticals, Inc		8,897
11,195		Monsanto Co		942,507
5,236	*	Mosaic Co		81,943
9,004		Mylan Laboratories, Inc		180,080
1,765	*	Myogen, Inc		51,185
2,526	*	Nabi Biopharmaceuticals		14,499
4,416	*	Nalco Holding Co		77,854
1,296	*	Nastech Pharmaceutical Co, Inc		20,477
2,405	*	NBTY, Inc		57,504
1,806	*	Neurocrine Biosciences, Inc		19,144
656	*	New River Pharmaceuticals, Inc		18,696
833		NewMarket Corp		40,867
383		NL Industries, Inc		4,117
840	*	Northfield Laboratories, Inc		8,308
2,542	*	Novavax, Inc		12,812
1,042	*	Noven Pharmaceuticals, Inc		18,652
3,035	*	NPS Pharmaceuticals, Inc		14,811
2,376	*	Nuvelo, Inc		39,560
2,992		Olin Corp		53,647
1,229	*	OM Group, Inc		37,915
1,711	*	Omnova Solutions, Inc		9,718

105

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,910	*	Onyx Pharmaceuticals, Inc	$	32,145
1,863	*	OraSure Technologies, Inc		17,736
2,357	*	OSI Pharmaceuticals, Inc		77,687
898	*	Pacific Ethanol, Inc		20,762
1,404	*	Pain Therapeutics, Inc		11,723
2,065	*	Panacos Pharmaceuticals, Inc		11,399
1,427	*	Par Pharmaceutical Cos, Inc		26,342
1,152	*	Parexel International Corp		33,235
466	*	Parlux Fragrances, Inc		4,516
4,551	*	PDL BioPharma, Inc		83,784
688	*	Penwest Pharmaceuticals Co		15,019
7,141	*	Peregrine Pharmaceuticals, Inc		11,354
3,017		Perrigo Co		48,574
762	*	PetMed Express, Inc		8,359
304,528		Pfizer, Inc		7,147,272
861	*	Pharmion Corp		14,663
428	*	Pioneer Cos, Inc		11,676
3,766	*	PolyOne Corp		33,065
1,006	*	Pozen, Inc		7,082
6,886		PPG Industries, Inc		454,476
13,430		Praxair, Inc		725,220
958	*	Prestige Brands Holdings, Inc		9,551
136,083		Procter & Gamble Co		7,566,215
915	*	Progenics Pharmaceuticals, Inc		22,015
1,274	*	Quidel Corp		12,103
674	*	Renovis, Inc		10,319
7,209	*	Revlon, Inc (Class A)		9,083
1,230	*	Rockwood Holdings, Inc		28,302
6,722		Rohm & Haas Co		336,907
4,550		RPM International, Inc		81,900
1,699	*	Salix Pharmaceuticals Ltd		20,898
1,880	*	Santarus, Inc		12,502
61,938		Schering-Plough Corp		1,178,680
1,019	*	Sciele Pharma, Inc		23,631
2,056		Scotts Miracle-Gro Co (Class A)		87,010
2,378		Sensient Technologies Corp		49,724
4,522	*	Sepracor, Inc		258,387
1,318	*	Serologicals Corp		41,438
2,786		Sigma-Aldrich Corp		202,375
1,634	*	Sirna Therapeutics, Inc		9,314
968	*	Solexa, Inc		8,228
220		Stepan Co		6,948
1,703	*	SuperGen, Inc		6,182
618	*	SurModics, Inc		22,316
1,135	*	Tanox, Inc		15,697
1,722		Tronox, Inc		22,679
2,128		UAP Holding Corp		46,412
981	*	United Therapeutics Corp		56,672
404	*	USANA Health Sciences, Inc		15,312
3,550		USEC, Inc		42,068
4,173		Valeant Pharmaceuticals International		70,607
4,229		Valspar Corp		111,688
3,647	*	VCA Antech, Inc		116,449
4,585	*	Vertex Pharmaceuticals, Inc		168,315

106

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,825	*	Viropharma, Inc	$	24,352
4,324	*	Watson Pharmaceuticals, Inc		100,663
620		Westlake Chemical Corp		18,476
3,342	*	WR Grace & Co		39,101
55,934		Wyeth		2,484,029
683	*	Xenoport, Inc		12,369
1,546	*	Zymogenetics, Inc		29,328
		TOTAL CHEMICALS AND ALLIED PRODUCTS		54,103,955
COAL MINING - 0.26%
2,159	*	Alpha Natural Resources, Inc		42,360
5,996		Arch Coal, Inc		254,051
7,664		Consol Energy, Inc		358,062
1,895		Foundation Coal Holdings, Inc		88,932
4,716	*	International Coal Group, Inc		33,908
498	*	James River Coal Co		13,192
3,452		Massey Energy Co		124,272
10,886		Peabody Energy Corp		606,894
708		Penn Virginia Corp		49,475
278	*	Westmoreland Coal Co		6,594
		TOTAL COAL MINING		1,577,740
COMMUNICATIONS - 4.60%
1,768		Alaska Communications Systems Group, Inc		22,365
16,072		Alltel Corp		1,025,876
17,442	*	American Tower Corp (Class A)		542,795
1,306		Anixter International, Inc		61,983
161,585		AT&T, Inc		4,506,606
948	*	Audiovox Corp (Class A)		12,950
19,355	*	Avaya, Inc		221,045
75,224		BellSouth Corp		2,723,109
2,411	*	Brightpoint, Inc		32,621
9,014		Cablevision Systems Corp (Class A)		193,350
680	*	Cbeyond Communications, Inc		14,831
27,967		CBS Corp		756,507
543		Centennial Communications Corp		2,824
4,828		CenturyTel, Inc		179,360
12,256	*	Charter Communications, Inc (Class A)		13,849
9,580	*	Cincinnati Bell, Inc		39,278
2,130		Citadel Broadcasting Corp		18,957
14,133		Citizens Communications Co		184,436
21,005		Clear Channel Communications, Inc		650,105
80,967	*	Comcast Corp (Class A)		2,650,860
1,183		Commonwealth Telephone Enterprises, Inc		39,228
1,400		Consolidated Communications Holdings, Inc		23,282
12,100	*	Covad Communications Group, Inc		24,321
1,894	*	Cox Radio, Inc (Class A)		27,311
9,130	*	Crown Castle International Corp		315,350
1,124	*	Crown Media Holdings, Inc (Class A)		4,631
780		CT Communications, Inc		17,839
2,244	*	Cumulus Media, Inc (Class A)		23,943
33,462	*	DIRECTV Group, Inc		552,123
6,319	*	Dobson Communications Corp (Class A)		48,846
8,878	*	EchoStar Communications Corp (Class A)		273,531

107

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,194	*	Embarq Corp	$	253,915
1,015	*	Emmis Communications Corp (Class A)		15,875
1,528		Entercom Communications Corp		39,972
2,269	*	Entravision Communications Corp (Class A)		19,445
948		Fairpoint Communications, Inc		13,651
2,270	*	First Avenue Networks, Inc		24,698
355	*	Fisher Communications, Inc		14,956
6,082	*	Foundry Networks, Inc		64,834
1,886	*	General Communication, Inc (Class A)		23,236
2,714		Global Payments, Inc		131,765
813		Golden Telecom, Inc		20,610
1,649		Gray Television, Inc		9,548
1,053		Hearst-Argyle Television, Inc		23,229
7,473	*	IAC/InterActiveCorp		197,960
1,952	*	IDT Corp (Class B)		26,918
551	*	InPhonic, Inc		3,471
1,292		Iowa Telecommunications Services, Inc		24,445
689	*	iPCS, Inc		33,279
2,068	*	j2 Global Communications, Inc		64,563
1,828	*	Leap Wireless International, Inc		86,739
34,621	*	Level 3 Communications, Inc		153,717
19,112	*	Liberty Global, Inc		410,908
5,930	*	Liberty Media Holding Corp (Capital)		496,756
29,521	*	Liberty Media Holding Corp (Interactive)		509,532
1,131	*	Lightbridge, Inc		14,646
1,014	*	Lin TV Corp (Class A)		7,656
446	*	Lodgenet Entertainment Corp		8,318
2,083	*	Mastec, Inc		27,516
2,113	*	Mediacom Communications Corp		13,164
2,595	*	NeuStar, Inc		87,581
5,722	*	NII Holdings, Inc (Class B)		322,606
649		North Pittsburgh Systems, Inc		17,886
1,787	*	Novatel Wireless, Inc		18,549
960	*	NTELOS Holdings Corp		13,872
2,850		PanAmSat Holding Corp		71,193
2,282	*	Pegasus Wireless Corp		20,401
1,803	*	Price Communications Corp		30,561
65,720	*	Qwest Communications International, Inc		531,683
2,945	*	Radio One, Inc (Class D)		21,793
1,213	*	RCN Corp		30,240
1	v*	RCN Corp Wts		(0	)
410		Salem Communications Corp (Class A)		5,334
341	*	SAVVIS, Inc		10,097
4,417	*	SBA Communications Corp		115,460
222		Shenandoah Telecom Co		10,434
1,673		Sinclair Broadcast Group, Inc (Class A)		14,321
1,678	*	Spanish Broadcasting System, Inc (Class A)		8,574
119,851		Sprint Nextel Corp		2,395,821
551		SureWest Communications		10,645
628	*	Syniverse Holdings, Inc		9,232
1,481	*	Talk America Holdings, Inc		9,167
4,571		Telephone & Data Systems, Inc		189,239
2,525	*	Terremark Worldwide, Inc		9,090
3,217	*	TiVo, Inc		23,001

108

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,838	*	Ubiquitel, Inc	$	29,345
8,822	*	Univision Communications, Inc (Class A)		295,537
656	*	US Cellular Corp		39,754
1,110		USA Mobility, Inc		18,426
1,699		Valor Communications Group, Inc		19,454
121,346		Verizon Communications, Inc		4,063,878
26,375	*	Viacom, Inc		945,280
1,285	*	Vonage Holdings Corp		11,038
1,246	*	West Corp		59,696
2,317	*	Wireless Facilities, Inc		6,372
10,525	*	XM Satellite Radio Holdings, Inc		154,191
		TOTAL COMMUNICATIONS		27,559,185
DEPOSITORY INSTITUTIONS - 10.08%
584		1st Source Corp		19,757
491	*	ACE Cash Express, Inc		14,372
784		Alabama National Bancorp		53,430
819		Amcore Financial, Inc		24,005
490		AmericanWest Bancorp		11,098
524		Ameris Bancorp		12,125
14,392		AmSouth Bancorp		380,668
899		Anchor Bancorp Wisconsin, Inc		27,123
442		Arrow Financial Corp		12,124
5,492		Associated Banc-Corp		173,163
3,735		Astoria Financial Corp		113,731
238		Bancfirst Corp		10,650
304	*	Bancorp, Inc		7,603
3,186		Bancorpsouth, Inc		86,818
487		BancTrust Financial Group, Inc		11,430
2,621		Bank Mutual Corp		32,029
189,668		Bank of America Corp		9,123,031
637		Bank of Granite Corp		13,269
2,119		Bank of Hawaii Corp		105,102
31,664		Bank of New York Co, Inc		1,019,581
432		Bank of the Ozarks, Inc		14,386
1,814		BankAtlantic Bancorp, Inc (Class A)		26,920
1,031		BankFinancial Corp		17,836
1,514		BankUnited Financial Corp (Class A)		46,207
532		Banner Corp		20,503
22,713		BB&T Corp		944,634
257		Berkshire Hills Bancorp, Inc		9,118
538	*	BFC Financial Corp		3,723
1,216		BOK Financial Corp		60,399
1,457		Boston Private Financial Holdings, Inc		40,650
2,247		Brookline Bancorp, Inc		30,941
310		Cadence Financial Corp		6,904
313		Camden National Corp		12,489
477		Capital City Bank Group, Inc		14,405
401		Capital Corp of the West		12,832
517		Capitol Bancorp Ltd		20,137
951		Capitol Federal Financial		32,610
757		Cardinal Financial Corp		8,796
807		Cascade Bancorp		23,008
156		Cass Information Systems, Inc		7,596

109

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,138		Cathay General Bancorp	$	77,780
2,180	*	Centennial Bank Holdings, Inc		22,541
408		Center Financial Corp		9,645
364		Centerstate Banks of Florida, Inc		7,462
1,158		Central Pacific Financial Corp		44,815
156		Charter Financial Corp		6,156
1,067		Chemical Financial Corp		32,650
1,834		Chittenden Corp		47,409
206,609		Citigroup, Inc		9,966,818
1,651		Citizens Banking Corp		40,301
356		Citizens First Bancorp, Inc		9,509
316		City Bank		14,745
796		City Holding Co		28,767
1,752		City National Corp		114,038
665		Clifton Savings Bancorp, Inc		7,202
736		Coastal Financial Corp		9,597
465		CoBiz, Inc		10,472
6,585		Colonial Bancgroup, Inc		169,103
408		Columbia Bancorp		10,228
751		Columbia Banking System, Inc		28,072
6,752		Comerica, Inc		351,036
7,656		Commerce Bancorp, Inc		273,089
2,828		Commerce Bancshares, Inc		141,541
1,706		Commercial Capital Bancorp, Inc		26,870
159	*	Community Bancorp		4,942
210		Community Bancorp, Inc		8,885
1,266		Community Bank System, Inc		25,535
1,158		Community Banks, Inc		30,108
551		Community Trust Bancorp, Inc		19,246
5,187		Compass Bancshares, Inc		288,397
1,582		Corus Bankshares, Inc		41,417
2,319		Cullen/Frost Bankers, Inc		132,879
2,517		CVB Financial Corp		39,416
1,011		Dime Community Bancshares		13,719
412	*	Dollar Financial Corp		7,416
906		Downey Financial Corp		61,472
2,519		East West Bancorp, Inc		95,495
292		Enterprise Financial Services Corp		7,431
1,579	*	Euronet Worldwide, Inc		60,586
268		Farmers Capital Bank Corp		8,777
1,016		Fidelity Bankshares, Inc		32,329
19,841		Fifth Third Bancorp		733,125
465		First Bancorp		9,765
2,416		First Bancorp		22,469
616		First Busey Corp (Class A)		12,610
1,366		First Charter Corp		33,508
261		First Citizens Bancshares, Inc (Class A)		52,330
2,562		First Commonwealth Financial Corp		32,537
832		First Community Bancorp, Inc		49,155
432		First Community Bancshares, Inc		14,252
1,422		First Financial Bancorp		21,202
858		First Financial Bankshares, Inc		31,351
621		First Financial Corp		18,636
600		First Financial Holdings, Inc		19,200

110

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
5,247		First Horizon National Corp	$	210,929
546		First Indiana Corp		14,212
852		First Merchants Corp		20,712
2,314		First Midwest Bancorp, Inc		85,803
4,563		First Niagara Financial Group, Inc		63,973
241		First Oak Brook Bancshares, Inc		8,917
592		First Place Financial Corp		13,622
95	*	First Regional Bancorp		8,360
910		First Republic Bank		41,678
287		First South Bancorp, Inc		9,824
736		First State Bancorporation		17,502
858	*	FirstFed Financial Corp		49,481
3,320		FirstMerit Corp		69,521
588		Flag Financial Corp		11,437
1,990		Flagstar Bancorp, Inc		31,760
832		Flushing Financial Corp		14,943
2,170		FNB Corp		34,221
280		FNB Corp		10,360
974	*	Franklin Bank Corp		19,665
2,478		Fremont General Corp		45,992
1,024		Frontier Financial Corp		34,806
7,213		Fulton Financial Corp		114,831
536		GB&T Bancshares, Inc		11,663
1,201		Glacier Bancorp, Inc		35,153
10,866		Golden West Financial Corp		806,257
546		Great Southern Bancorp, Inc		16,669
2,010		Greater Bay Bancorp		57,787
253		Greene County Bancshares, Inc		7,833
1,102		Hancock Holding Co		61,712
1,406		Hanmi Financial Corp		27,333
899		Harbor Florida Bancshares, Inc		33,389
1,274		Harleysville National Corp		27,022
537		Heartland Financial USA, Inc		14,311
440		Heritage Commerce Corp		10,908
480		Horizon Financial Corp		13,166
23,726		Hudson City Bancorp, Inc		316,268
10,186		Huntington Bancshares, Inc		240,186
415		IBERIABANK Corp		23,879
729		Independent Bank Corp		23,671
876		Independent Bank Corp		23,039
2,669		IndyMac Bancorp, Inc		122,374
682		Integra Bank Corp		14,834
721		Interchange Financial Services Corp		16,223
1,932		International Bancshares Corp		53,091
199	*	Intervest Bancshares Corp		8,060
2,010	*	Investors Bancorp, Inc		27,236
2,728		Investors Financial Services Corp		122,487
826		Irwin Financial Corp		16,016
266		ITLA Capital Corp		13,986
144,414		JPMorgan Chase & Co		6,065,388
585		Kearny Financial Corp		8,658
16,806		Keycorp		599,638
1,310		KNBT Bancorp, Inc		21,641
500		Lakeland Bancorp, Inc		7,835

111

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
346		Lakeland Financial Corp	$	8,404
3,189		M&T Bank Corp		376,047
712		Macatawa Bank Corp		16,654
1,400		MAF Bancorp, Inc		59,976
419		MainSource Financial Group, Inc		7,303
10,159		Marshall & Ilsley Corp		464,673
820		MB Financial, Inc		28,995
717		MBT Financial Corp		11,472
17,899		Mellon Financial Corp		616,263
243		Mercantile Bank Corp		9,684
5,018		Mercantile Bankshares Corp		178,992
194		MetroCorp Bancshares, Inc		5,680
975		Mid-State Bancshares		27,300
568		Midwest Banc Holdings, Inc		12,638
930		Nara Bancorp, Inc		17,438
142		NASB Financial, Inc		4,795
23,888		National City Corp		864,507
1,778		National Penn Bancshares, Inc		35,311
1,230		NBT Bancorp, Inc		28,573
1,998	*	Net 1 UEPS Technologies, Inc		54,645
1,952		NetBank, Inc		12,942
11,954		New York Community Bancorp, Inc		197,361
4,578		NewAlliance Bancshares, Inc		65,511
19,340		North Fork Bancorporation, Inc		583,488
322	*	Northern Empire Bancshares		7,728
9,064		Northern Trust Corp		501,239
762		Northwest Bancorp, Inc		20,193
428		OceanFirst Financial Corp		9,510
2,757		Old National Bancorp		55,057
662		Old Second Bancorp, Inc		20,522
349		Omega Financial Corp		10,927
929		Oriental Financial Group, Inc		11,854
2,182		Pacific Capital Bancorp		67,904
641		Park National Corp		63,337
1,751		Partners Trust Financial Group, Inc		19,979
552		Pennfed Financial Services, Inc		10,295
431		Peoples Bancorp, Inc		12,861
2,401		People's Bank		78,873
903		PFF Bancorp, Inc		29,943
636	*	Pinnacle Financial Partners, Inc		19,353
481		Placer Sierra Bancshares		11,154
12,112		PNC Financial Services Group, Inc		849,899
11,697		Popular, Inc		224,582
129		Preferred Bank		6,916
537		Premierwest Bancorp		7,749
712		PrivateBancorp, Inc		29,484
1,055		Prosperity Bancshares, Inc		34,699
1,420		Provident Bankshares Corp		51,674
2,921		Provident Financial Services, Inc		52,432
1,895		Provident New York Bancorp		25,052
1,133		R & G Financial Corp (Class B)		9,732
18,949		Regions Financial Corp		627,591
358		Renasant Corp		14,445
2,997		Republic Bancorp, Inc		37,133

112

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
273		Republic Bancorp, Inc (Class A)	$	5,624
226		Royal Bancshares of Pennsylvania (Class A)		5,487
1,339		S&T Bancorp, Inc		44,495
574		S.Y. Bancorp, Inc		15,774
676		Sandy Spring Bancorp, Inc		24,377
343		Santander BanCorp		8,445
291		SCBT Financial Corp		10,374
454		Seacoast Banking Corp of Florida		12,090
340		Security Bank Corp		7,572
354		Shore Bancshares, Inc		9,604
251		Sierra Bancorp		6,581
1,220	*	Signature Bank		39,504
701		Simmons First National Corp (Class A)		20,336
4,172		Sky Financial Group, Inc		98,501
324		Smithtown Bancorp, Inc		7,828
439		Sound Federal Bancorp, Inc		9,127
2,859		South Financial Group, Inc		75,506
460		Southside Bancshares, Inc		10,267
423		Southwest Bancorp, Inc		10,787
16,054		Sovereign Bancorp, Inc		326,057
433		State National Bancshares, Inc		16,502
13,937		State Street Corp		809,600
765		Sterling Bancorp		14,918
1,905		Sterling Bancshares, Inc		35,719
1,155		Sterling Financial Corp		25,295
1,715		Sterling Financial Corp		52,325
421		Suffolk Bancorp		13,788
397		Summit Bancshares, Inc		8,420
479	*	Sun Bancorp, Inc		7,779
15,113		SunTrust Banks, Inc		1,152,517
717	*	Superior Bancorp		7,887
2,146		Susquehanna Bancshares, Inc		51,289
1,352	*	SVB Financial Group		61,462
11,253		Synovus Financial Corp		301,355
140		Taylor Capital Group, Inc		5,713
5,663		TCF Financial Corp		149,786
4,191		TD Banknorth, Inc		123,425
987	*	Texas Capital Bancshares, Inc		22,997
1,846		Texas Regional Bancshares, Inc (Class A)		70,000
383		Texas United Bancshares, Inc		10,781
854		TierOne Corp		28,840
281		Tompkins Trustco, Inc		12,083
617		Trico Bancshares		16,893
2,989		Trustco Bank Corp NY		32,939
2,006		Trustmark Corp		62,126
3,928		UCBH Holdings, Inc		64,969
1,307		UMB Financial Corp		43,575
2,336		Umpqua Holdings Corp		59,918
373		Union Bankshares Corp		16,091
2,225		UnionBanCal Corp		143,713
1,927		United Bankshares, Inc		70,586
1,282		United Community Banks, Inc		39,024
1,315		United Community Financial Corp		15,780
296		United Security Bancshares		6,331

113

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
488		Univest Corp of Pennsylvania	$	13,478
73,978		US Bancorp		2,284,441
451		USB Holding Co, Inc		10,148
4,828		Valley National Bancorp		124,128
301		Vineyard National Bancorp		8,097
495	*	Virginia Commerce Bancorp		11,831
311		Virginia Financial Group, Inc		13,130
4,158		W Holding Co, Inc		27,651
66,847		Wachovia Corp		3,615,086
3,627		Washington Federal, Inc		84,110
39,927		Washington Mutual, Inc		1,819,873
457		Washington Trust Bancorp, Inc		12,668
439	*	Wauwatosa Holdings, Inc		7,489
2,190		Webster Financial Corp		103,894
69,819		Wells Fargo & Co		4,683,525
819		WesBanco, Inc		25,381
861		West Bancorporation, Inc		16,075
702		West Coast Bancorp		20,688
1,472		Westamerica Bancorporation		72,084
548	*	Western Alliance Bancorp		19,059
216		Westfield Financial, Inc		6,264
2,708		Whitney Holding Corp		95,782
619		Willow Grove Bancorp, Inc		9,848
2,792		Wilmington Trust Corp		117,767
766		Wilshire Bancorp, Inc		13,803
905		Wintrust Financial Corp		46,019
228		WSFS Financial Corp		14,011
349		Yardville National Bancorp		12,470
4,408		Zions Bancorporation		343,559
		TOTAL DEPOSITORY INSTITUTIONS		60,309,391
EATING AND DRINKING PLACES - 0.92%
701	*	AFC Enterprises		8,938
3,286		Applebees International, Inc		63,157
4,913		Aramark Corp (Class B)		162,669
396	*	BJ's Restaurants, Inc		8,847
1,354		Bob Evans Farms, Inc		40,633
3,593		Brinker International, Inc		130,426
224	*	Buffalo Wild Wings, Inc		8,581
819	*	California Pizza Kitchen, Inc		22,506
1,284		CBRL Group, Inc		43,553
1,345	*	CEC Entertainment, Inc		43,201
310	*	Chipotle Mexican Grill, Inc		18,894
2,373		CKE Restaurants, Inc		39,416
1,399	*	Cosi, Inc		8,716
6,308		Darden Restaurants, Inc		248,535
3,414	*	Denny's Corp		12,598
1,571		Domino's Pizza, Inc		38,867
836		IHOP Corp		40,195
1,399	*	Jack in the Box, Inc		54,841
2,318	*	Krispy Kreme Doughnuts, Inc		18,869
617		Landry's Restaurants, Inc		20,022
685		Lone Star Steakhouse & Saloon, Inc		17,968
885	*	Luby's, Inc		9,231

114

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
486	*	McCormick & Schmick's Seafood Restaurants, Inc	$	11,567
51,792		McDonald's Corp		1,740,211
421	*	Morton's Restaurant Group, Inc		6,450
915	*	O'Charleys, Inc		15,555
2,753		OSI Restaurant Partners, Inc		95,254
992	*	Papa John's International, Inc		32,934
1,003	*	PF Chang's China Bistro, Inc		38,134
1,414	*	Rare Hospitality International, Inc		40,667
551	*	Red Robin Gourmet Burgers, Inc		23,451
2,449		Ruby Tuesday, Inc		59,780
960	*	Ruth's Chris Steak House, Inc		19,603
1,851	*	Ryan's Restaurant Group, Inc		22,045
3,679	*	Sonic Corp		76,486
31,976	*	Starbucks Corp		1,207,414
2,182	*	Texas Roadhouse, Inc (Class A)		29,501
3,134	*	The Cheesecake Factory, Inc		84,461
978	*	The Steak N Shake Co		14,807
1,388	*	Tim Hortons, Inc		35,741
2,567		Triarc Cos (Class B)		40,122
4,897		Wendy's International, Inc		285,446
11,327		Yum! Brands, Inc		569,408
		TOTAL EATING AND DRINKING PLACES		5,509,700
EDUCATIONAL SERVICES - 0.14%
5,822	*	Apollo Group, Inc (Class A)		300,823
4,061	*	Career Education Corp		121,383
3,600	*	Corinthian Colleges, Inc		51,696
2,531	*	DeVry, Inc		55,606
960	*	Educate, Inc		7,354
1,874	*	ITT Educational Services, Inc		123,328
1,897	*	Laureate Education, Inc		80,869
619		Strayer Education, Inc		60,117
757	*	Universal Technical Institute, Inc		16,669
		TOTAL EDUCATIONAL SERVICES		817,845
ELECTRIC, GAS, AND SANITARY SERVICES - 4.01%
27,367	*	AES Corp		504,939
3,379		AGL Resources, Inc		128,807
6,792	*	Allegheny Energy, Inc		251,779
965		Allete, Inc		45,693
4,909		Alliant Energy Corp		168,379
10,361	*	Allied Waste Industries, Inc		117,701
8,303		Ameren Corp		419,302
473		American Ecology Corp		12,535
16,436		American Electric Power Co, Inc		562,933
687		American States Water Co		24,492
5,389		Aqua America, Inc		122,815
15,554	*	Aquila, Inc		65,482
3,122		Atmos Energy Corp		87,135
2,313		Avista Corp		52,806
1,364		Black Hills Corp		46,826
804		California Water Service Group		28,735
485		Cascade Natural Gas Corp		10,229
982	*	Casella Waste Systems, Inc (Class A)		12,854

115

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
12,920		Centerpoint Energy, Inc	$	161,500
680		CH Energy Group, Inc		32,640
701	*	Clean Harbors, Inc		28,257
1,960		Cleco Corp		45,570
9,177	*	CMS Energy Corp		118,750
10,301		Consolidated Edison, Inc		457,776
7,366		Constellation Energy Group, Inc		401,594
4,850	*	Covanta Holding Corp		85,603
366		Crosstex Energy, Inc		34,799
14,356		Dominion Resources, Inc		1,073,685
5,231		DPL, Inc		140,191
7,403		DTE Energy Co		301,598
51,480		Duke Energy Corp		1,511,968
3,128		Duquesne Light Holdings, Inc		51,424
14,642	*	Dynegy, Inc (Class A)		80,092
13,586		Edison International		529,854
27,078		El Paso Corp		406,170
1,996	*	El Paso Electric Co		40,239
1,058		Empire District Electric Co		21,742
3,223		Energen Corp		123,795
6,224		Energy East Corp		148,940
283		EnergySouth, Inc		8,838
8,645		Entergy Corp		611,634
27,828		Exelon Corp		1,581,465
13,707		FirstEnergy Corp		743,056
16,651		FPL Group, Inc		689,018
3,348		Great Plains Energy, Inc		93,275
3,376		Hawaiian Electric Industries, Inc		94,224
1,880		Idacorp, Inc		64,465
700		ITC Holdings Corp		18,606
7,376		KeySpan Corp		297,990
4,418		Kinder Morgan, Inc		441,314
945		Laclede Group, Inc		32,470
261		Markwest Hydrocarbon, Inc		6,460
4,813		MDU Resources Group, Inc		176,204
1,058		Metal Management, Inc		32,396
838		MGE Energy, Inc		26,104
12,462	*	Mirant Corp		333,982
3,486		National Fuel Gas Co		122,498
1,399		New Jersey Resources Corp		65,445
1,785		Nicor, Inc		74,078
11,339		NiSource, Inc		247,663
6,117		Northeast Utilities		126,438
1,464		Northwest Natural Gas Co		54,212
1,469		NorthWestern Corp		50,460
5,733	*	NRG Energy, Inc		276,216
4,590		NSTAR		131,274
3,772		OGE Energy Corp		132,133
4,753		Oneok, Inc		161,792
500		Ormat Technologies, Inc		19,075
1,016		Otter Tail Corp		27,767
1,548		Peoples Energy Corp		55,589
7,938		Pepco Holdings, Inc		187,178
14,195		PG&E Corp		557,580

116

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
379	*	Pico Holdings, Inc	$	12,223
3,246		Piedmont Natural Gas Co, Inc		78,878
880	*	Pike Electric Corp		16,949
4,064		Pinnacle West Capital Corp		162,194
2,373	*	Plug Power, Inc		11,082
3,021		PNM Resources, Inc		75,404
1,113		Portland General Electric Co		27,792
15,806		PPL Corp		510,534
10,602		Progress Energy, Inc		454,508
328	v*	Progress Energy, Inc		3
10,449		Public Service Enterprise Group, Inc		690,888
4,827		Puget Energy, Inc		103,684
3,564		Questar Corp		286,866
12,740	*	Reliant Energy, Inc		152,625
5,005		Republic Services, Inc		201,902
750		Resource America, Inc (Class A)		14,288
4,756		SCANA Corp		183,486
10,772		Sempra Energy		489,911
8,347	*	Sierra Pacific Resources		116,858
574		SJW Corp		14,608
1,084		South Jersey Industries, Inc		29,691
30,835		Southern Co		988,262
4,157		Southern Union Co		112,488
1,608		Southwest Gas Corp		50,395
850		Southwest Water Co		10,175
1,901	*	Stericycle, Inc		123,755
2,563		Synagro Technologies, Inc		10,073
8,855		TECO Energy, Inc		132,294
19,223		TXU Corp		1,149,343
3,946		UGI Corp		97,151
534		UIL Holdings Corp		30,059
1,317		Unisource Energy Corp		41,025
3,161		Vectren Corp		86,137
1,995	*	Waste Connections, Inc		72,618
699	*	Waste Services, Inc		6,284
3,515		Westar Energy, Inc		73,991
2,629		Western Gas Resources, Inc		157,346
1,987		WGL Holdings, Inc		57,524
24,734		Williams Cos, Inc		577,809
4,867		Wisconsin Energy Corp		196,140
1,788		WPS Resources Corp		88,685
16,446		Xcel Energy, Inc		315,434
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		24,011,890
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.85%
1,312	*	Actel Corp		18,827
1,798		Acuity Brands, Inc		69,960
5,029	*	Adaptec, Inc		21,826
4,855	*	ADC Telecommunications, Inc		81,855
2,856		Adtran, Inc		64,060
1,511	*	Advanced Analogic Technologies, Inc		15,835
1,451	*	Advanced Energy Industries, Inc		19,211
20,234	*	Advanced Micro Devices, Inc		494,114
2,986	*	Aeroflex, Inc		34,847

117

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
7,045	*	Agere Systems, Inc	$	103,562
15,008	*	Altera Corp		263,390
6,947		American Power Conversion Corp		135,397
1,237	*	American Superconductor Corp		10,923
2,949		Ametek, Inc		139,724
1,431	*	AMIS Holdings, Inc		14,310
4,595	*	Amkor Technology, Inc		43,469
3,754		Amphenol Corp (Class A)		210,074
1,996	*	Anadigics, Inc		13,413
15,003		Analog Devices, Inc		482,196
6,363	*	Andrew Corp		56,376
13,597	*	Applied Micro Circuits Corp		37,120
4,679	*	Arris Group, Inc		61,388
1,871	*	Atheros Communications, Inc		35,474
19,039	*	Atmel Corp		105,666
1,346	*	ATMI, Inc		33,139
6,965	*	Avanex Corp		12,258
5,634	*	Avnet, Inc		112,793
2,105		AVX Corp		33,238
1,359		Baldor Electric Co		42,523
574		Bel Fuse, Inc (Class B)		18,833
2,670	*	Benchmark Electronics, Inc		64,400
2,332	*	Bookham, Inc		7,836
18,939	*	Broadcom Corp (Class A)		569,117
3,252	*	Broadwing Corp		33,658
11,884	*	Brocade Communications Systems, Inc		72,968
933	*	CalAmp Corp		8,294
4,359	*	Capstone Turbine Corp		9,939
859	*	Carrier Access Corp		7,104
1,387	*	C-COR, Inc		10,708
1,168	*	Ceradyne, Inc		57,804
1,439	*	Checkpoint Systems, Inc		31,960
1,155	*	China BAK Battery, Inc		9,829
25,357	*	Ciena Corp		121,967
254,111	*	Cisco Systems, Inc		4,962,788
812	*	Color Kinetics, Inc		15,355
821	*	Comtech Telecommunications Corp		24,031
8,343	*	Comverse Technology, Inc		164,941
22,516	*	Conexant Systems, Inc		56,290
3,057	*	Cree, Inc		72,634
1,756		CTS Corp		26,147
926		Cubic Corp		18,159
5,792	*	Cypress Semiconductor Corp		84,216
826	*	Diodes, Inc		34,229
783	*	Ditech Networks, Inc		6,828
1,449	*	Dolby Laboratories, Inc (Class A)		33,762
1,600	*	DSP Group, Inc		39,760
825	*	DTS, Inc		16,071
1,088	*	Electro Scientific Industries, Inc		19,573
2,209	*	Emcore Corp		21,206
17,062		Emerson Electric Co		1,429,966
617	*	EMS Technologies, Inc		11,087
2,621	*	Energizer Holdings, Inc		153,569
1,626	*	Energy Conversion Devices, Inc		59,235

118

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,922	*	EnerSys	$	40,170
2,770	*	Evergreen Solar, Inc		35,955
1,243	*	Exar Corp		16,495
4,757	*	Fairchild Semiconductor International, Inc		86,435
10,287	*	Finisar Corp		33,638
942		Franklin Electric Co, Inc		48,645
16,741	*	Freescale Semiconductor, Inc (Class B)		492,185
2,947	*	FuelCell Energy, Inc		28,232
10,703	*	Gemstar-TV Guide International, Inc		37,675
1,091	*	Genlyte Group, Inc		79,021
4,791	*	GrafTech International Ltd		27,788
700	*	Greatbatch, Inc		16,520
2,726		Harman International Industries, Inc		232,719
2,986	*	Harmonic, Inc		13,377
5,706		Harris Corp		236,856
3,617	*	Hexcel Corp		56,823
534	*	Hittite Microwave Corp		19,309
34,411		Honeywell International, Inc		1,386,763
956	*	Hutchinson Technology, Inc		20,678
477	*	ID Systems, Inc		8,457
700	*	Ikanos Communications, Inc		10,633
1,456		Imation Corp		59,769
8,324	*	Integrated Device Technology, Inc		118,034
241,791		Intel Corp		4,581,939
2,259	*	Interdigital Communications Corp		78,862
2,499	*	International DisplayWorks, Inc		12,995
2,980	*	International Rectifier Corp		116,458
5,922		Intersil Corp (Class A)		137,687
1,030		Inter-Tel, Inc		21,692
1,695	*	InterVoice, Inc		12,068
530	*	iRobot Corp		13,186
684	*	IXYS Corp		6,566
67,933	*	JDS Uniphase Corp		171,870
3,758	*	Kemet Corp		34,649
4,851		L-3 Communications Holdings, Inc		365,862
577	*	Lamson & Sessions Co		16,364
4,763	*	Lattice Semiconductor Corp		29,435
1,766		Lincoln Electric Holdings, Inc		110,640
12,613		Linear Technology Corp		422,409
1,023	*	Littelfuse, Inc		35,171
472	*	Loral Space & Communications, Inc		13,386
683		LSI Industries, Inc		11,604
15,835	*	LSI Logic Corp		141,723
186,144	*	Lucent Technologies, Inc		450,468
2,849	*	Mattson Technology, Inc		27,835
13,516		Maxim Integrated Products, Inc		433,999
603	*	Maxwell Technologies, Inc		11,837
7,077	*	McData Corp (Class A)		28,878
1,064	*	Medis Technologies Ltd		21,578
5,816	*	MEMC Electronic Materials, Inc		218,100
820	*	Mercury Computer Systems, Inc		12,620
1,572		Methode Electronics, Inc		16,522
573	*	Metrologic Instruments, Inc		8,601
3,046	*	Micrel, Inc		30,490

119

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
8,890		Microchip Technology, Inc	$	298,260
30,110	*	Micron Technology, Inc		453,457
2,827	*	Microsemi Corp		68,922
2,270	*	Microtune, Inc		14,210
4,570	*	Mindspeed Technologies, Inc		11,014
2,659	*	MIPS Technologies, Inc		16,140
1,348	*	Mobility Electronics, Inc		9,786
5,851		Molex, Inc		196,418
903	*	Monolithic Power Systems, Inc		10,682
1,599	*	Moog, Inc		54,718
972	*	MoSys, Inc		7,601
102,945		Motorola, Inc		2,074,342
5,559	*	MRV Communications, Inc		17,288
383	*	Multi-Fineline Electronix, Inc		12,712
181		National Presto Industries, Inc		9,463
14,028		National Semiconductor Corp		334,568
678	*	Netlogic Microsystems, Inc		21,866
15,421	*	Network Appliance, Inc		544,361
5,298	*	Novellus Systems, Inc		130,861
14,404	*	Nvidia Corp		306,661
2,321	*	Omnivision Technologies, Inc		49,020
6,584	*	ON Semiconductor Corp		38,714
4,194	*	Openwave Systems, Inc		48,399
830	*	Oplink Communications Inc		15,197
803	*	Optical Communication Products, Inc		1,614
575	*	OSI Systems, Inc		10,218
856		Park Electrochemical Corp		22,042
764	*	Parkervision, Inc		6,952
824	*	Pericom Semiconductor Corp		6,839
1,953	*	Photronics, Inc		28,904
2,177		Plantronics, Inc		48,351
1,988	*	Plexus Corp		68,009
1,080	*	PLX Technology, Inc		13,198
8,628	*	PMC - Sierra, Inc		81,103
3,736	*	Polycom, Inc		81,893
1,451	*	Portalplayer, Inc		14,234
242	*	Powell Industries, Inc		5,791
1,009	*	Power Integrations, Inc		17,637
2,878	*	Power-One, Inc		18,995
5,088	*	Powerwave Technologies, Inc		46,403
6,640	*	QLogic Corp		114,474
69,664		Qualcomm, Inc		2,791,436
3,100	*	Quantum Fuel Systems Technologies Worldwide, Inc		10,540
5,923		RadioShack Corp		82,922
732	*	Radyne Corp		8,330
3,662	*	Rambus, Inc		83,530
752		Raven Industries, Inc		23,688
1,279		Regal-Beloit Corp		56,468
8,950	*	RF Micro Devices, Inc		53,432
7,106		Rockwell Collins, Inc		397,012
756	*	Rogers Corp		42,593
21,733	*	Sanmina-SCI Corp		99,972
2,802	*	Semtech Corp		40,489
3,657	*	Silicon Image, Inc		39,422

120

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,056	*	Silicon Laboratories, Inc	$	72,268
4,590	*	Silicon Storage Technology, Inc		18,635
1,034	*	Sirenza Microdevices, Inc		12,553
58,230	*	Sirius Satellite Radio, Inc		276,593
6,774	*	Skyworks Solutions, Inc		37,325
2,160	*	Spansion, Inc		34,430
1,361	*	Spectrum Brands, Inc		17,584
1,222	*	Standard Microsystems Corp		26,676
3,972	*	Stratex Networks, Inc		13,465
530	*	Sunpower Corp		14,851
485	*	Supertex, Inc		19,371
6,440	*	Sycamore Networks, Inc		26,146
2,092	*	Symmetricom, Inc		14,790
807	*	Synaptics, Inc		17,270
1,696		Technitrol, Inc		39,262
2,237	*	Tekelec		27,627
1,676		Teleflex, Inc		90,538
18,955	*	Tellabs, Inc		252,291
1,866	*	Tessera Technologies, Inc		51,315
64,748		Texas Instruments, Inc		1,961,217
2,565	*	Thomas & Betts Corp		131,585
8,259	*	Transmeta Corp		13,380
3,536	*	Transwitch Corp		7,461
2,387	*	Trident Microsystems, Inc		45,305
6,366	*	Triquint Semiconductor, Inc		28,392
1,955	*	TTM Technologies, Inc		28,289
711	*	Ulticom, Inc		7,444
1,134	*	Universal Display Corp		15,094
621	*	Universal Electronics, Inc		10,998
4,907	*	Utstarcom, Inc		38,226
2,374	*	Varian Semiconductor Equipment Associates, Inc		77,416
966	*	Viasat, Inc		24,807
772		Vicor Corp		12,792
488	*	Virage Logic Corp		4,582
6,626	*	Vishay Intertechnology, Inc		104,236
440	*	Volterra Semiconductor Corp		6,714
2,971		Whirlpool Corp		245,553
14,466		Xilinx, Inc		327,655
4,672	*	Zhone Technologies, Inc		9,531
660	*	Zoltek Cos, Inc		19,727
2,133	*	Zoran Corp		51,917
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		35,039,365
ENGINEERING AND MANAGEMENT SERVICES - 0.80%
728	*	Advisory Board Co		35,010
4,448	*	Amylin Pharmaceuticals, Inc		219,598
2,911	*	Applera Corp (Celera Genomics Group)		37,697
3,964	*	Ariad Pharmaceuticals, Inc		17,878
349		CDI Corp		10,121
14,437	*	Celgene Corp		684,747
489	*	Cornell Cos, Inc		7,511
1,694		Corporate Executive Board Co		169,739
392	*	CRA International, Inc		17,695
2,042	*	CV Therapeutics, Inc		28,527

121

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,347	*	deCODE genetics, Inc	$	14,528
1,088	*	DiamondCluster International, Inc		8,617
3,765	*	Digitas, Inc		43,749
1,409	*	Diversa Corp		13,611
1,976	*	eResearch Technology, Inc		17,982
653	*	Essex Corp		12,028
2,898	*	Exelixis, Inc		29,125
700	*	Exponent, Inc		11,830
897	*	First Consulting Group, Inc		7,929
3,640		Fluor Corp		338,265
2,148	*	Gen-Probe, Inc		115,949
2,397	*	Harris Interactive, Inc		13,663
2,020	*	Hewitt Associates, Inc		45,410
717	*	Huron Consulting Group, Inc		25,160
2,712	*	ICOS Corp		59,637
2,654	*	Incyte Corp		12,208
1,108	*	Infrasource Services, Inc		20,177
4,108	*	Isis Pharmaceuticals, Inc		24,853
2,403	*	Jacobs Engineering Group, Inc		191,375
514	*	Kendle International, Inc		18,879
855	*	Keryx Biopharmaceuticals, Inc		12,141
402		Landauer, Inc		19,256
998	*	LECG Corp		18,433
3,091	*	Lexicon Genetics, Inc		13,569
1,393	*	Lifecell Corp		43,072
1,458	*	Luminex Corp		25,355
885		MAXIMUS, Inc		20,488
1,339	*	Maxygen, Inc		10,016
4,374	*	Monogram Biosciences, Inc		8,661
10,093		Moody's Corp		549,665
281	*	MTC Technologies, Inc		6,640
1,748	*	Myriad Genetics, Inc		44,137
1,944	*	Navigant Consulting, Inc		44,032
1,115	*	Omnicell, Inc		15,409
14,141		Paychex, Inc		551,216
1,452	*	Per-Se Technologies, Inc		36,561
4,086		Pharmaceutical Product Development, Inc		143,500
6,614		Quest Diagnostics, Inc		396,311
1,631	*	Regeneron Pharmaceuticals, Inc		20,909
5,690	*	Rentech, Inc		26,458
1,988	*	Resources Connection, Inc		49,740
1,502	*	Rigel Pharmaceuticals, Inc		14,614
1,126	*	Sangamo Biosciences, Inc		6,643
2,128	*	Savient Pharmaceuticals, Inc		11,172
793	*	Senomyx, Inc		11,443
700	*	SFBC International, Inc		10,612
3,350	*	Shaw Group, Inc		93,130
795	*	Sourcecorp		19,708
1,265	*	Symyx Technologies, Inc		30,550
349	*	Tejon Ranch Co		14,365
2,028	*	Telik, Inc		33,462
2,074	*	Tetra Tech, Inc		36,793
613	*	Trimeris, Inc		7,043
2,124	*	URS Corp		89,208

122

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,271		Washington Group International, Inc	$	67,795
1,817		Watson Wyatt & Co Holdings		63,849
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		4,819,454
ENVIRONMENTAL QUALITY AND HOUSING - 0.00%**
1,549	*	Home Solutions of America, Inc		9,557
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		9,557
FABRICATED METAL PRODUCTS - 0.40%
1,462	*	Alliant Techsystems, Inc		111,624
293		Ameron International Corp		19,637
1,566		Aptargroup, Inc		77,689
4,228		Ball Corp		156,605
754		CIRCOR International, Inc		22,989
4,904		Commercial Metals Co		126,033
866	*	Commercial Vehicle Group, Inc		17,909
2,125		Crane Co		88,400
6,972	*	Crown Holdings, Inc		108,554
400		Dynamic Materials Corp		13,492
1,108	*	Griffon Corp		28,919
281		Gulf Island Fabrication, Inc		5,631
20,830		Illinois Tool Works, Inc		989,425
590		Insteel Industries, Inc		14,278
3,078	*	Jacuzzi Brands, Inc		27,086
583	*	Ladish Co, Inc		21,845
394		Lifetime Brands, Inc		8,538
1,434	*	Mobile Mini, Inc		41,959
1,057	*	Mueller Water Products, Inc		18,402
974	*	NCI Building Systems, Inc		51,788
4,228		Pentair, Inc		144,555
866		Silgan Holdings, Inc		32,051
1,564		Simpson Manufacturing Co, Inc		56,382
1,199	*	Smith & Wesson Holding Corp		9,856
2,411		Snap-On, Inc		97,453
2,587	*	Taser International, Inc		20,463
708		Valmont Industries, Inc		32,915
1,041		Watts Water Technologies, Inc (Class A)		34,926
		TOTAL FABRICATED METAL PRODUCTS		2,379,404
FOOD AND KINDRED PRODUCTS - 2.90%
32,360		Anheuser-Busch Cos, Inc		1,475,292
27,198		Archer Daniels Midland Co		1,122,733
417	*	Boston Beer Co, Inc (Class A)		12,214
1,048	*	Burger King Holdings, Inc		16,506
9,822		Campbell Soup Co		364,494
136		Coca-Cola Bottling Co Consolidated		6,905
84,698		Coca-Cola Co		3,643,708
12,720		Coca-Cola Enterprises, Inc		259,106
21,579		ConAgra Foods, Inc		477,134
7,980	*	Constellation Brands, Inc (Class A)		199,500
3,054		Corn Products International, Inc		93,452
3,121	*	Darling International, Inc		14,138
8,316		Del Monte Foods Co		93,389
645		Diamond Foods, Inc		10,365

123

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
290		Farmer Bros Co	$	6,287
2,152		Flowers Foods, Inc		61,633
14,320		General Mills, Inc		739,771
1,898	*	Gold Kist, Inc		25,376
13,929		H.J. Heinz Co		574,153
658	*	Hansen Natural Corp		125,263
7,323		Hershey Co		403,278
3,071		Hormel Foods Corp		114,057
477		Imperial Sugar Co		11,314
493		J&J Snack Foods Corp		16,304
2,236		J.M. Smucker Co		99,949
903	*	Jones Soda Co		8,127
10,264		Kellogg Co		497,086
8,765		Kraft Foods, Inc (Class A)		270,839
1,299		Lancaster Colony Corp		51,272
1,209		Lance, Inc		27,831
367	*	M&F Worldwide Corp		5,909
5,680		McCormick & Co, Inc		190,564
385		MGP Ingredients, Inc		8,940
2,108		Molson Coors Brewing Co (Class B)		143,091
234		National Beverage Corp		3,358
477	*	Peet's Coffee & Tea, Inc		14,401
5,915		Pepsi Bottling Group, Inc		190,167
2,587		PepsiAmericas, Inc		57,199
68,910		PepsiCo, Inc		4,137,356
790		Premium Standard Farms, Inc		12,822
1,226	*	Ralcorp Holdings, Inc		52,142
880		Reddy Ice Holdings, Inc		17,908
3,587		Reynolds American, Inc		413,581
659		Sanderson Farms, Inc		18,445
31,610		Sara Lee Corp		506,392
3,952	*	Smithfield Foods, Inc		113,936
1,391		Tootsie Roll Industries, Inc		40,520
1,498		Topps Co, Inc		12,314
1,153	*	TreeHouse Foods, Inc		27,545
9,247		Tyson Foods, Inc (Class A)		137,425
9,758		Wrigley (Wm.) Jr Co		442,623
		TOTAL FOOD AND KINDRED PRODUCTS		17,368,114
FOOD STORES - 0.26%
70		Arden Group, Inc (Class A)		7,922
646		Great Atlantic & Pacific Tea Co, Inc		14,677
417		Ingles Markets, Inc (Class A)		7,089
30,040		Kroger Co		656,674
1,250	*	Panera Bread Co (Class A)		84,050
935	*	Pantry, Inc		53,800
2,148	*	Pathmark Stores, Inc		20,213
1,648		Ruddick Corp		40,392
8,509		Supervalu, Inc		261,226
462		Weis Markets, Inc		19,034
5,832		Whole Foods Market, Inc		376,980
1,375	*	Wild Oats Markets, Inc		26,950
		TOTAL FOOD STORES		1,569,007

124

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
FORESTRY - 0.13%
3,312		Rayonier, Inc	$	125,558
10,234		Weyerhaeuser Co		637,066
		TOTAL FORESTRY		762,624
FURNITURE AND FIXTURES - 0.33%
3,059	*	BE Aerospace, Inc		69,929
1,362		Ethan Allen Interiors, Inc		49,781
1,610		Furniture Brands International, Inc		33,552
2,979		Herman Miller, Inc		76,769
2,552		Hillenbrand Industries, Inc		123,772
2,129		HNI Corp		96,550
308		Hooker Furniture Corp		5,165
2,650	*	Interface, Inc (Class A)		30,342
8,027		Johnson Controls, Inc		659,980
921		Kimball International, Inc (Class B)		18,153
1,728		La-Z-Boy, Inc		24,192
7,813		Leggett & Platt, Inc		195,169
16,511		Masco Corp		489,386
841		Sealy Corp		11,160
2,316	*	Select Comfort Corp		53,199
408		Stanley Furniture Co, Inc		9,780
2,083	*	Tempur-Pedic International, Inc		28,141
1,050	*	Williams Scotsman International, Inc		22,932
		TOTAL FURNITURE AND FIXTURES		1,997,952
FURNITURE AND HOMEFURNISHINGS STORES - 0.35%
11,755	*	Bed Bath & Beyond, Inc		389,913
16,716		Best Buy Co, Inc		916,705
7,168		Circuit City Stores, Inc		195,113
652	*	Cost Plus, Inc		9,558
2,722	*	GameStop Corp		114,324
995	*	Guitar Center, Inc		44,248
621		Haverty Furniture Cos, Inc		9,743
1,390		Knoll, Inc		25,520
2,216	*	Mohawk Industries, Inc		155,896
3,265		Pier 1 Imports, Inc		22,790
997	*	Restoration Hardware, Inc		7,158
3,202		Steelcase, Inc (Class A)		52,673
978		Tuesday Morning Corp		12,861
4,127		Williams-Sonoma, Inc		140,524
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		2,097,026
GENERAL BUILDING CONTRACTORS - 0.36%
208	*	Avatar Holdings, Inc		11,850
1,681		Beazer Homes USA, Inc		77,107
436		Brookfield Homes Corp		14,366
266	*	Cavco Industries, Inc		11,821
5,043		Centex Corp		253,663
12,810		DR Horton, Inc		305,150
2,020	*	Hovnanian Enterprises, Inc (Class A)		60,762
3,347		KB Home		153,460
5,705		Lennar Corp (Class A)		253,131
693		Levitt Corp (Class A)		11,088

125

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
404		M/I Homes, Inc	$	14,172
131	v*	Mascotech (Escrow)		(0	)
902		McGrath RentCorp		25,085
1,351		MDC Holdings, Inc		70,157
1,066	*	Meritage Homes Corp		50,368
202	*	NVR, Inc		99,233
555	*	Palm Harbor Homes, Inc		9,762
1,161	*	Perini Corp		26,123
8,845		Pulte Homes, Inc		254,648
1,823		Ryland Group, Inc		79,428
2,754		Standard-Pacific Corp		70,778
256	*	Team, Inc		6,413
975		Technical Olympic USA, Inc		14,001
5,250	*	Toll Brothers, Inc		134,242
1,806		Walter Industries, Inc		104,116
1,384	*	WCI Communities, Inc		27,874
		TOTAL GENERAL BUILDING CONTRACTORS		2,138,798
GENERAL MERCHANDISE STORES - 1.77%
1,632	*	99 Cents Only Stores		17,071
4,672	*	Big Lots, Inc		79,798
2,939	*	BJ's Wholesale Club, Inc		83,321
468		Bon-Ton Stores, Inc		10,240
1,094	*	Cabela's, Inc		21,070
2,116		Casey's General Stores, Inc		52,921
381	*	Conn's, Inc		10,116
19,582		Costco Wholesale Corp		1,118,720
2,550		Dillard's, Inc (Class A)		81,218
13,270		Dollar General Corp		185,515
6,221		Family Dollar Stores, Inc		151,979
22,816		Federated Department Stores, Inc		835,066
1,377		Fred's, Inc		18,383
9,754		JC Penney Co, Inc		658,493
1,190	*	Retail Ventures, Inc		21,206
5,658		Saks, Inc		91,490
875		Stein Mart, Inc		12,950
36,126		Target Corp		1,765,478
19,025		TJX Cos, Inc		434,911
102,187		Wal-Mart Stores, Inc		4,922,348
		TOTAL GENERAL MERCHANDISE STORES		10,572,294
HEALTH SERVICES - 1.59%
505	*	Alliance Imaging, Inc		3,232
802	*	Amedisys, Inc		30,396
1,521	*	American Retirement Corp		49,843
8,706		AmerisourceBergen Corp		364,956
1,100	*	Amsurg Corp		25,025
1,862	*	Apria Healthcare Group, Inc		35,192
339	*	Bio-Reference Labs, Inc		7,377
620		Brookdale Senior Living, Inc		27,739
18,382		Caremark Rx, Inc		916,710
4,979		Cigna Corp		490,481
4,175	*	Community Health Systems, Inc		153,431
242	*	Corvel Corp		6,050

126

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,045	*	Covance, Inc	$	125,195
6,584	*	Coventry Health Care, Inc		361,725
1,087	*	Cross Country Healthcare, Inc		19,773
4,288	*	DaVita, Inc		213,114
2,603	*	Edwards Lifesciences Corp		118,254
1,006	*	Enzo Biochem, Inc		15,170
5,124	*	Express Scripts, Inc		367,596
1,315	*	Five Star Quality Care, Inc		14,557
963	*	Genesis HealthCare Corp		45,617
1,154	*	Genomic Health, Inc		13,583
968	*	Gentiva Health Services, Inc		15,517
16,234		HCA, Inc		700,497
10,183		Health Management Associates, Inc (Class A)		200,707
1,438	*	Healthways, Inc		75,696
401	*	Horizon Health Corp		8,373
1,110	*	Hythiam, Inc		7,737
1,499	*	Kindred Healthcare, Inc		38,974
5,185	*	Laboratory Corp of America Holdings		322,663
781		LCA-Vision, Inc		41,323
474	*	LHC Group, Inc		9,442
2,397	*	LifePoint Hospitals, Inc		77,016
3,943	*	Lincare Holdings, Inc		149,203
1,543	*	Magellan Health Services, Inc		69,913
3,202		Manor Care, Inc		150,238
1,055	*	Matria Healthcare, Inc		22,598
12,687		McKesson Corp		599,841
275	*	Medcath Corp		5,181
12,598	*	Medco Health Solutions, Inc		721,613
254		National Healthcare Corp		11,316
3,487	*	Nektar Therapeutics		63,952
620	*	Nighthawk Radiology Holdings, Inc		11,123
1,899	*	Odyssey HealthCare, Inc		33,365
1,779		Option Care, Inc		21,312
2,070	*	Pediatrix Medical Group, Inc		93,771
2,264	*	Psychiatric Solutions, Inc		64,886
418	*	Radiation Therapy Services, Inc		11,248
635	*	RehabCare Group, Inc		11,036
2,322	*	Sierra Health Services, Inc		104,560
1,400	*	Stereotaxis, Inc		15,106
956	*	Sun Healthcare Group, Inc		8,308
1,702	*	Sunrise Senior Living, Inc		47,060
636	*	Symbion, Inc		13,203
19,680	*	Tenet Healthcare Corp		137,366
3,565	*	Triad Hospitals, Inc		141,142
1,920	*	United Surgical Partners International, Inc		57,734
1,959		Universal Health Services, Inc (Class B)		98,459
513	*	VistaCare, Inc (Class A)		6,207
26,404	*	WellPoint, Inc		1,921,419
		TOTAL HEALTH SERVICES		9,494,121
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.01%
1,460		Granite Construction, Inc		66,094
852	*	Matrix Service Co		9,747
372	*	Sterling Construction Co, Inc		10,267
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		86,108

127

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
HOLDING AND OTHER INVESTMENT OFFICES - 3.15%
4,105		Aames Investment Corp	$	20,484
1,314		Acadia Realty Trust		31,076
1,376	*	Affiliated Managers Group, Inc		119,561
1,256	*	Affordable Residential Communities		13,502
287		Agree Realty Corp		9,749
105	*	Alexander's, Inc		28,535
1,076		Alexandria Real Estate Equities, Inc		95,420
5,607		Allied Capital Corp		161,313
3,608		AMB Property Corp		182,384
557		American Campus Communities, Inc		13,841
5,376		American Financial Realty Trust		52,040
1,808		American Home Mortgage Investment Corp		66,643
6,409		Annaly Mortgage Management, Inc		82,099
1,952		Anthracite Capital, Inc		23,736
2,610		Anworth Mortgage Asset Corp		21,663
4,072		Apartment Investment & Management Co (Class A)		176,928
3,362		Apollo Investment Corp		62,130
386		Arbor Realty Trust, Inc		9,669
8,606		Archstone-Smith Trust		437,787
1,785		Ashford Hospitality Trust, Inc		22,527
3,090		AvalonBay Communities, Inc		341,816
2,324		BioMed Realty Trust, Inc		69,581
4,625		Boston Properties, Inc		418,100
3,601		Brandywine Realty Trust		115,844
2,053		BRE Properties, Inc (Class A)		112,915
2,338		Camden Property Trust		171,960
1,408		Capital Lease Funding, Inc		16,065
111		Capital Southwest Corp		11,594
440		Capital Trust, Inc		15,673
2,458		CarrAmerica Realty Corp		109,504
2,589		CBL & Associates Properties, Inc		100,790
880		Cedar Shopping Centers, Inc		12,954
448		CentraCore Properties Trust		11,088
184		Cherokee, Inc		7,610
1,888		Colonial Properties Trust		93,267
542		Compass Diversified Trust		7,734
1,573		Corporate Office Properties Trust		66,192
1,880		Cousins Properties, Inc		58,148
3,197		Crescent Real Estate Equities Co		59,336
2,139		Deerfield Triarc Capital Corp		27,764
4,289		Developers Diversified Realty Corp		223,800
2,671		DiamondRock Hospitality Co		39,558
960		Digital Realty Trust, Inc		23,702
5,546		Duke Realty Corp		194,942
833		EastGroup Properties, Inc		38,884
834		Education Realty Trust, Inc		13,886
144	*	Enstar Group, Inc		13,275
1,094		Entertainment Properties Trust		47,097
2,250		Equity Inns, Inc		37,260
892		Equity Lifestyle Properties, Inc		39,096
15,212		Equity Office Properties Trust		555,390

128

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES	COMPANY		VALUE
1,360	Equity One, Inc	$	28,424
12,076	Equity Residential		540,159
1,051	Essex Property Trust, Inc		117,355
2,180	Extra Space Storage, Inc		35,403
2,233	Federal Realty Investment Trust		156,310
2,310	FelCor Lodging Trust, Inc		50,219
3,003	Fieldstone Investment Corp		27,507
1,840	First Industrial Realty Trust, Inc		69,810
858	First Potomac Realty Trust		25,560
2,056	Franklin Street Properties Corp		40,462
6,196	Friedman Billings Ramsey Group, Inc		67,970
7,148	General Growth Properties, Inc		322,089
755	Getty Realty Corp		21,472
395	Gladstone Capital Corp		8,449
629	Gladstone Investment Corp		9,435
1,068	Glenborough Realty Trust, Inc		23,005
1,627	Glimcher Realty Trust		40,366
620	Global Signal, Inc		28,718
2,180	GMH Communities Trust		28,732
695	Gramercy Capital Corp		18,001
682	Harris & Harris Group, Inc		7,529
5,790	Health Care Property Investors, Inc		154,825
2,627	Health Care REIT, Inc		91,814
1,823	Healthcare Realty Trust, Inc		58,063
1,044	Heritage Property Investment Trust		36,456
1,137	Hersha Hospitality Trust		10,563
2,478	Highland Hospitality Corp		34,890
2,254	Highwoods Properties, Inc		81,550
1,273	Home Properties, Inc		70,664
1,920	HomeBanc Corp		15,245
2,995	Hospitality Properties Trust		131,540
21,599	Host Marriott Corp		472,370
8,972	HRPT Properties Trust		103,716
3,059	IMPAC Mortgage Holdings, Inc		34,200
3,626	Inland Real Estate Corp		53,955
2,210	Innkeepers U.S.A. Trust		38,189
1,721	Investors Real Estate Trust		15,541
4,300	iShares Russell 2000 Index Fund		309,170
6,800	iShares Russell Midcap Index Fund		623,900
4,703	iStar Financial, Inc		177,538
880	JER Investors Trust, Inc		13,684
1,329	Kilroy Realty Corp		96,020
8,620	Kimco Realty Corp		314,544
1,660	Kite Realty Group Trust		25,879
3,045	KKR Financial Corp		63,366
1,848	LaSalle Hotel Properties		85,562
2,194	Lexington Corporate Properties Trust		47,390
3,564	Liberty Property Trust		157,529
1,306	LTC Properties, Inc		29,189
3,289	Luminent Mortgage Capital, Inc		30,456
2,939	Macerich Co		206,318
2,594	Mack-Cali Realty Corp		119,116
1,740	Maguire Properties, Inc		61,196
1,644	Medical Properties Trust, Inc		18,150

129

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,170		MFA Mortgage Investments, Inc	$	21,810
887		Mid-America Apartment Communities, Inc		49,450
2,536		Mills Corp		67,838
1,660		MortgageIT Holdings, Inc		20,020
892		National Health Investors, Inc		23,986
2,148		National Retail Properties, Inc		42,853
3,253		Nationwide Health Properties, Inc		73,225
1,898		New Century Financial Corp		86,834
4,581		New Plan Excel Realty Trust		113,105
1,828		Newcastle Investment Corp		46,285
1,140		Newkirk Realty Trust, Inc		19,790
1,286		NorthStar Realty Finance Corp		15,445
1,495		Novastar Financial, Inc		47,257
10,882		NTL, Inc		270,962
2,173		Omega Healthcare Investors, Inc		28,727
1,845		Pan Pacific Retail Properties, Inc		127,988
544		Parkway Properties, Inc		24,752
1,380		Pennsylvania Real Estate Investment Trust		55,711
7,519		Plum Creek Timber Co, Inc		266,925
1,724		Post Properties, Inc		78,166
1,978		Potlatch Corp		74,670
9,857		Prologis		513,747
842		PS Business Parks, Inc		49,678
3,519		Public Storage, Inc		267,092
975		RAIT Investment Trust		28,470
562		Ramco-Gershenson Properties		15,135
3,460		Realty Income Corp		75,774
3,347		Reckson Associates Realty Corp		138,499
806		Redwood Trust, Inc		39,357
2,754		Regency Centers Corp		171,161
990		Republic Property Trust		9,781
474		Saul Centers, Inc		19,330
2,604		Saxon Capital, Inc		29,790
2,315		Senior Housing Properties Trust		41,462
1,961		Shurgard Storage Centers, Inc (Class A)		122,563
9,183		Simon Property Group, Inc		761,638
693		Sizeler Property Investors, Inc		11,130
1,753		SL Green Realty Corp		191,901
615		Sovran Self Storage, Inc		31,236
23,090		SPDR Trust Series 1		2,938,895
3,425		Spirit Finance Corp		38,566
770	*	Star Maritime Acquisition Corp		7,823
3,047		Strategic Hotel Capital, Inc		63,195
754		Sun Communities, Inc		24,528
2,409		Sunstone Hotel Investors, Inc		70,006
1,579		Tanger Factory Outlet Centers, Inc		51,112
367		Tarragon Corp		5,083
2,195		Taubman Centers, Inc		89,776
4,725		Thornburg Mortgage, Inc		131,686
4,082		Trizec Properties, Inc		116,908
2,818		Trustreet Properties, Inc		37,169
5,574		United Dominion Realty Trust, Inc		156,128
514		Universal Health Realty Income Trust		16,114
841		Urstadt Biddle Properties, Inc (Class A)		13,700

130

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,920		U-Store-It Trust	$	36,211
4,353		Ventas, Inc		147,480
5,088		Vornado Realty Trust		496,334
1,836		Washington Real Estate Investment Trust		67,381
3,128		Weingarten Realty Investors		119,740
843		Windrose Medical Properties Trust		12,308
762		Winston Hotels, Inc		9,335
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		18,858,496
HOTELS AND OTHER LODGING PLACES - 0.50%
1,198		Ameristar Casinos, Inc		23,301
1,439	*	Aztar Corp		74,770
712	*	Bluegreen Corp		8,160
1,823		Boyd Gaming Corp		73,576
1,400		Choice Hotels International, Inc		84,840
1,861	*	Gaylord Entertainment Co		81,214
954	*	Great Wolf Resorts, Inc		11,458
15,923		Hilton Hotels Corp		450,330
743	*	Isle of Capri Casinos, Inc		19,058
5,708	*	Las Vegas Sands Corp		444,425
1,050	*	Lodgian, Inc		14,963
938		Marcus Corp		19,585
14,536		Marriott International, Inc (Class A)		554,112
4,945	*	MGM Mirage		201,756
342	*	Monarch Casino & Resort, Inc		9,617
710	*	Morgans Hotel Group Co		11,048
937	*	Riviera Holdings Corp		18,927
9,082		Starwood Hotels & Resorts Worldwide, Inc		548,008
2,120		Station Casinos, Inc		144,330
1,159	*	Trump Entertainment Resorts, Inc		23,354
1,430	*	Vail Resorts, Inc		53,053
2,022	*	Wynn Resorts Ltd		148,213
		TOTAL HOTELS AND OTHER LODGING PLACES		3,018,098
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.25%
31,338		3M Co		2,531,170
396		Aaon, Inc		10,161
1,115		Actuant Corp		55,694
2,448	*	Advanced Digital Information Corp		28,813
3,590	*	AGCO Corp		94,489
1,085		Albany International Corp (Class A)		45,993
577	*	Allis-Chalmers Energy, Inc		7,841
7,400		American Standard Cos, Inc		320,198
306		Ampco-Pittsburgh Corp		8,767
35,349	*	Apple Computer, Inc		2,019,135
65,009		Applied Materials, Inc		1,058,362
580	*	Astec Industries, Inc		19,790
620	*	ASV, Inc		14,285
2,142	*	Asyst Technologies, Inc		16,129
4,034	*	Axcelis Technologies, Inc		23,806
3,158		Black & Decker Corp		266,725
723		Black Box Corp		27,713
1,091	*	Blount International, Inc		13,114
2,080		Briggs & Stratton Corp		64,709

131

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,439	*	Brooks Automation, Inc	$	40,580
1,368		Bucyrus International, Inc (Class A)		69,084
4,828	*	Cameron International Corp		230,634
1,209		Carlisle Cos, Inc		95,874
379		Cascade Corp		14,989
27,828		Caterpillar, Inc		2,072,629
2,480		CDW Corp		135,532
4,059	*	Cirrus Logic, Inc		33,040
749	*	Columbus McKinnon Corp		16,283
1,912		Cummins, Inc		233,742
1,904		Curtiss-Wright Corp		58,796
1,615	*	Cymer, Inc		75,033
9,750		Deere & Co		814,028
96,182	*	Dell, Inc		2,347,803
3,064		Diebold, Inc		124,460
3,243		Donaldson Co, Inc		109,840
8,441		Dover Corp		417,239
1,490	*	Dresser-Rand Group, Inc		34,985
534	*	Dril-Quip, Inc		44,023
6,241		Eaton Corp		470,571
2,405	*	Electronics for Imaging, Inc		50,216
98,565	*	EMC Corp		1,081,258
3,352	*	Emulex Corp		54,537
816	*	EnPro Industries, Inc		27,418
5,635	*	Entegris, Inc		53,702
4,316	*	Extreme Networks, Inc		17,955
479	*	Fargo Electronics, Inc		12,162
713	*	Flanders Corp		7,151
1,456	*	Flow International Corp		20,486
2,299	*	Flowserve Corp		130,813
2,844	*	FMC Technologies, Inc		191,856
2,170	*	Gardner Denver, Inc		83,545
8,749	*	Gateway, Inc		16,623
386	*	Gehl Co		9,855
1,025	*	Global Imaging Systems, Inc		42,312
969	*	Goodman Global, Inc		14,709
348		Gorman-Rupp Co		9,257
2,849		Graco, Inc		130,997
5,471	*	Grant Prideco, Inc		244,827
116,475		Hewlett-Packard Co		3,689,928
849	*	Hydril		66,663
2,089		IDEX Corp		98,601
2,109	*	Intermec, Inc		48,380
64,434		International Business Machines Corp		4,949,820
14,126		International Game Technology		535,940
911	*	Intevac, Inc		19,750
7,594		Jabil Circuit, Inc		194,406
5,142		Joy Global, Inc		267,847
644	*	Kadant, Inc		14,812
1,178		Kaydon Corp		43,951
1,532		Kennametal, Inc		95,367
1,393	*	Komag, Inc		64,329
2,318	*	Kulicke & Soffa Industries, Inc		17,176
5,842	*	Lam Research Corp		272,354

132

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
425	*	LB Foster Co	$	10,315
2,546		Lennox International, Inc		67,418
4,470	*	Lexmark International, Inc		249,560
485		Lindsay Manufacturing Co		13,153
612		Lufkin Industries, Inc		36,371
2,504		Manitowoc Co, Inc		111,428
1,708	*	Micros Systems, Inc		74,605
277	*	Middleby Corp		23,977
1,295		Modine Manufacturing Co		30,251
265		Nacco Industries, Inc (Class A)		36,414
604	*	NATCO Group, Inc		24,281
1,173	*	Netgear, Inc		25,395
485		NN, Inc		5,990
1,219		Nordson Corp		59,950
1,974	*	Oil States International, Inc		67,669
5,164		Pall Corp		144,592
3,492	*	Palm, Inc		56,221
5,013		Parker Hannifin Corp		389,086
1,711	*	Paxar Corp		35,195
1,020	*	ProQuest Co		12,536
6,315	*	Quantum Corp		16,545
1,149	*	Rackable Systems, Inc		45,374
620	*	RBC Bearings, Inc		14,074
553		Robbins & Myers, Inc		14,455
7,429		Rockwell Automation, Inc		534,962
5,027	*	Safeguard Scientifics, Inc		10,858
8,088	*	SanDisk Corp		412,326
531		Sauer-Danfoss, Inc		13,498
1,200	*	Scansource, Inc		35,184
2,742	*	Scientific Games Corp (Class A)		97,670
661	*	Semitool, Inc		5,962
919	*	Sigma Designs, Inc		8,666
8,920		Smith International, Inc		396,672
36,758	*	Solectron Corp		125,712
2,433		SPX Corp		136,126
564		Standex International Corp		17,117
3,376		Stanley Works		159,415
10,453		Symbol Technologies, Inc		112,788
674	*	Tecumseh Products Co (Class A)		12,941
327		Tennant Co		16,442
2,051	*	Terex Corp		202,434
3,398		Timken Co		113,867
1,843		Toro Co		86,068
918	*	TurboChef Technologies, Inc		10,208
1,034	*	Ultratech, Inc		16,275
5,500	*	Varian Medical Systems, Inc		260,425
1,614	*	VeriFone Holdings, Inc		49,195
1,157		Watsco, Inc		69,212
8,872	*	Western Digital Corp		175,754
1,118		Woodward Governor Co		34,110
3,111	*	Zebra Technologies Corp (Class A)		106,272
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		31,430,076

133

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
INSTRUMENTS AND RELATED PRODUCTS - 4.02%
956	*	Abaxis, Inc	$	21,386
828	*	Abiomed, Inc		10,739
518	*	ADE Corp		16,830
2,875	*	Advanced Medical Optics, Inc		145,763
2,839	*	Affymetrix, Inc		72,678
17,721	*	Agilent Technologies, Inc		559,306
2,388	*	Align Technology, Inc		17,647
6,209		Allergan, Inc		665,977
2,595	*	American Medical Systems Holdings, Inc		43,207
317	*	American Science & Engineering, Inc		18,361
480		Analogic Corp		22,373
898	*	Anaren, Inc		18,400
499	*	Angiodynamics, Inc		13,498
7,500		Applera Corp (Applied Biosystems Group)		242,625
697	*	Argon ST, Inc		18,561
847		Arrow International, Inc		27,841
983	*	Arthrocare Corp		41,296
615	*	Aspect Medical Systems, Inc		10,726
422		Badger Meter, Inc		11,394
4,311		Bard (C.R.), Inc		315,824
2,263		Bausch & Lomb, Inc		110,978
27,425		Baxter International, Inc		1,008,143
2,619		Beckman Coulter, Inc		145,485
10,361		Becton Dickinson & Co		633,368
10,377		Biomet, Inc		324,696
827	*	Bio-Rad Laboratories, Inc (Class A)		53,705
616	*	Biosite, Inc		28,127
51,409	*	Boston Scientific Corp		865,728
968	*	Bruker BioSciences Corp		5,188
1,283	*	Candela Corp		20,348
1,983	*	Cepheid, Inc		19,255
1,139	*	Cerus Corp		8,121
553		CNS, Inc		13,549
1,163	*	Coherent, Inc		39,228
926		Cohu, Inc		16,251
1,022	*	Conmed Corp		21,155
1,723		Cooper Cos, Inc		76,312
4,868	*	Credence Systems Corp		17,038
809	*	Cyberonics, Inc		17,248
9,854		Danaher Corp		633,809
547		Datascope Corp		16,869
3,367		Dentsply International, Inc		204,040
1,499	*	Depomed, Inc		8,799
708	*	DexCom, Inc		9,615
909	*	Dionex Corp		49,686
891	*	DJ Orthopedics, Inc		32,816
1,704		DRS Technologies, Inc		83,070
12,095		Eastman Kodak Co		287,619
672		EDO Corp		16,356
1,674	*	Encore Medical Corp		8,052
1,077	*	ESCO Technologies, Inc		57,566
1,080	*	Esterline Technologies Corp		44,917
1,000	*	ev3, Inc		14,810
655	*	Excel Technology, Inc		19,598

134

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
991	*	FEI Co	$	22,476
5,055	*	Fisher Scientific International, Inc		369,268
2,879	*	Flir Systems, Inc		63,511
1,872	*	Formfactor, Inc		83,547
1,692	*	Fossil, Inc		30,473
785	*	Foxhollow Technologies, Inc		21,446
1,154	*	Haemonetics Corp		53,673
1,275	*	HealthTronics, Inc		9,754
378	*	Herley Industries, Inc		4,237
1,899	*	Hologic, Inc		93,735
520	*	ICU Medical, Inc		21,965
898	*	I-Flow Corp		9,716
1,118	*	II-VI, Inc		20,459
1,840	*	Illumina, Inc		54,574
2,936	*	Input/Output, Inc		27,745
713	*	Integra LifeSciences Holdings Corp		27,672
1,597	*	Intermagnetics General Corp		43,087
874	*	Intralase Corp		14,631
1,564	*	Intuitive Surgical, Inc		184,505
1,096		Invacare Corp		27,268
1,916	*	Ionatron, Inc		12,167
612	*	IRIS International, Inc		8,054
957	*	Itron, Inc		56,712
1,354	*	Ixia		12,186
123,061		Johnson & Johnson		7,373,874
523	*	Kensey Nash Corp		15,429
8,268		Kla-Tencor Corp		343,701
3,535	*	Kopin Corp		12,761
1,831	*	Kyphon, Inc		70,237
760	*	Laserscope		23,416
3,001	*	LTX Corp		21,037
415	*	Measurement Specialties, Inc		9,242
375	*	Medical Action Industries, Inc		8,284
50,251		Medtronic, Inc		2,357,777
1,613		Mentor Corp		70,166
1,160	*	Merit Medical Systems, Inc		15,962
1,788	*	Mettler-Toledo International, Inc		108,299
2,213	*	Millipore Corp		139,397
1,290		Mine Safety Appliances Co		51,858
1,514	*	MKS Instruments, Inc		30,462
734	*	Molecular Devices Corp		22,431
756		Movado Group, Inc		17,350
884		MTS Systems Corp		34,927
2,133		National Instruments Corp		58,444
764	*	Natus Medical, Inc		7,556
516	*	Neurometrix, Inc		15,717
1,859	*	Newport Corp		29,967
1,377	*	NuVasive, Inc		25,103
730		Oakley, Inc		12,301
159	*	OYO Geospace Corp		9,080
649	*	Palomar Medical Technologies, Inc		29,614
5,102		PerkinElmer, Inc		106,652
734	*	Photon Dynamics, Inc		9,190
9,787		Pitney Bowes, Inc		404,203

135

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,097		PolyMedica Corp	$	39,448
1,644	*	RAE Systems, Inc		6,576
3,156	*	Resmed, Inc		148,174
3,130	*	Respironics, Inc		107,109
636	*	Rofin-Sinar Technologies, Inc		36,551
3,611		Roper Industries, Inc		168,814
1,074	*	Rudolph Technologies, Inc		15,573
2,143	*	Sirf Technology Holdings, Inc		69,047
696		Sirona Dental Systems, Inc		27,576
835	*	Sonic Solutions, Inc		13,778
631	*	SonoSite, Inc		24,634
1,262	*	Spectranetics Corp		13,529
15,033	*	St. Jude Medical, Inc		487,370
2,848		STERIS Corp		65,105
12,508		Stryker Corp		526,712
1,436	*	Symmetry Medical, Inc		22,114
1,702	*	Techne Corp		86,666
3,488		Tektronix, Inc		102,617
1,397	*	Teledyne Technologies, Inc		45,766
8,223	*	Teradyne, Inc		114,546
6,801	*	Thermo Electron Corp		246,468
2,165	*	ThermoGenesis Corp		8,920
2,549	*	Thoratec Corp		35,355
2,269	*	Trimble Navigation Ltd		101,288
1,501	*	TriPath Imaging, Inc		9,937
417		United Industrial Corp		18,869
1,292	*	Varian, Inc		53,631
1,196	*	Veeco Instruments, Inc		28,513
1,183	*	Ventana Medical Systems, Inc		55,814
1,178	*	Viasys Healthcare, Inc		30,182
498	*	Viisage Technology, Inc		7,550
422	*	Vital Images, Inc		10,423
204		Vital Signs, Inc		10,104
4,236	*	Waters Corp		188,078
1,418	*	Wright Medical Group, Inc		29,679
38,176	*	Xerox Corp		531,028
967		X-Rite, Inc		10,627
200		Young Innovations, Inc		7,046
10,410	*	Zimmer Holdings, Inc		590,455
417	*	Zoll Medical Corp		13,661
758	*	Zygo Corp		12,424
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		24,035,032
INSURANCE AGENTS, BROKERS AND SERVICE - 0.42%
13,313		AON Corp		463,559
4,616		Brown & Brown, Inc		134,880
756		Clark, Inc		9,979
837		Crawford & Co (Class B)		6,010
4,146		Gallagher (Arthur J.) & Co		105,060
12,459		Hartford Financial Services Group, Inc		1,054,031
1,506		Hilb Rogal & Hobbs Co		56,129
369	*	James River Group, Inc		9,188
22,604		Marsh & McLennan Cos, Inc		607,822
1,466		National Financial Partners Corp		64,958

136

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,653	*	USI Holdings Corp	$	22,167
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		2,533,783
INSURANCE CARRIERS - 4.48%
1,026		21st Century Insurance Group		14,774
23,563		Aetna, Inc		940,871
1,205		Affirmative Insurance Holdings, Inc		18,858
21,079		Aflac, Inc		977,012
1,425		Alfa Corp		23,598
245	*	Alleghany Corp		67,708
26,409		Allstate Corp		1,445,365
4,391		Ambac Financial Group, Inc		356,110
2,322		American Equity Investment Life Holding Co		24,753
2,252		American Financial Group, Inc		96,611
91,548		American International Group, Inc		5,405,968
476		American National Insurance Co		61,747
375	*	American Physicians Capital, Inc		19,721
2,006	*	AMERIGROUP Corp		62,266
1,514		AmerUs Group Co		88,645
1,294	*	Argonaut Group, Inc		38,872
5,190		Assurant, Inc		251,196
274		Baldwin & Lyons, Inc (Class B)		6,987
530		Bristol West Holdings, Inc		8,480
1,059		Capital Title Group, Inc		7,805
1,744	*	Centene Corp		41,036
17,244		Chubb Corp		860,476
6,468		Cincinnati Financial Corp		304,061
876	*	CNA Financial Corp		28,873
701	*	CNA Surety Corp		12,113
2,255		Commerce Group, Inc		66,613
5,915	*	Conseco, Inc		136,637
1,597		Delphi Financial Group, Inc (Class A)		58,067
425		Direct General Corp		7,191
263		Donegal Group, Inc		5,105
78		EMC Insurance Group, Inc		2,243
2,050		Erie Indemnity Co (Class A)		106,600
545		FBL Financial Group, Inc (Class A)		17,658
7,177		Fidelity National Financial, Inc		279,544
1,084		Fidelity National Title Group, Inc		21,322
1,112	*	First Acceptance Corp		13,099
3,543		First American Corp		149,763
439	*	Fpic Insurance Group, Inc		17,011
18,495		Genworth Financial, Inc		644,366
281		Great American Financial Resources, Inc		5,881
2,038		Hanover Insurance Group, Inc		96,723
546		Harleysville Group, Inc		17,319
4,445		HCC Insurance Holdings, Inc		130,861
4,796	*	Health Net, Inc		216,635
1,123	*	HealthExtras, Inc		33,937
750	*	Healthspring, Inc		14,063
1,885		Horace Mann Educators Corp		31,951
6,829	*	Humana, Inc		366,717
297		Independence Holding Co		6,656
753		Infinity Property & Casualty Corp		30,873

137

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
155		Kansas City Life Insurance Co	$	6,536
768		LandAmerica Financial Group, Inc		49,613
6,882		Leucadia National Corp		200,886
11,689		Lincoln National Corp		659,727
18,420		Loews Corp		652,989
428	*	Markel Corp		148,516
5,599		MBIA, Inc		327,821
1,073	*	Meadowbrook Insurance Group, Inc		8,927
1,146		Mercury General Corp		64,600
18,788		Metlife, Inc		962,133
3,637		MGIC Investment Corp		236,405
349		Midland Co		13,255
547	*	Molina Healthcare, Inc		20,813
660		National Interstate Corp		17,899
88		National Western Life Insurance Co (Class A)		21,089
2,032		Nationwide Financial Services, Inc (Class A)		89,571
540	*	Navigators Group, Inc		23,663
242		NYMAGIC, Inc		7,030
377		Odyssey Re Holdings Corp		9,934
2,634		Ohio Casualty Corp		78,309
9,557		Old Republic International Corp		204,233
2,297	*	Philadelphia Consolidated Holding Co		69,737
4,481		Phoenix Cos, Inc		63,092
1,396	*	PMA Capital Corp (Class A)		14,379
3,716		PMI Group, Inc		165,659
1,006		Presidential Life Corp		24,727
11,513		Principal Financial Group		640,698
1,254	*	ProAssurance Corp		60,418
33,026		Progressive Corp		849,098
2,993		Protective Life Corp		139,534
20,452		Prudential Financial, Inc		1,589,120
3,422		Radian Group, Inc		211,411
1,208		Reinsurance Group Of America, Inc		59,373
1,133		RLI Corp		54,588
4,956		Safeco Corp		279,271
594		Safety Insurance Group, Inc		28,245
416	*	SCPIE Holdings, Inc		9,672
644	*	SeaBright Insurance Holdings, Inc		10,375
1,082		Selective Insurance Group, Inc		60,451
28,455		St. Paul Travelers Cos, Inc		1,268,524
2,214		Stancorp Financial Group, Inc		112,715
621		State Auto Financial Corp		20,207
743		Stewart Information Services Corp		26,978
4,171		Torchmark Corp		253,263
637		Tower Group, Inc		19,269
1,119		Transatlantic Holdings, Inc		62,552
474	*	Triad Guaranty, Inc		23,169
862		United Fire & Casualty Co		25,972
55,984		UnitedHealth Group, Inc		2,506,964
1,876		Unitrin, Inc		81,775
1,595	*	Universal American Financial Corp		20,974
12,468		UnumProvident Corp		226,045
6,725		W.R. Berkley Corp		229,524
1,359	*	WellCare Health Plans, Inc		66,659

138

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
67		Wesco Financial Corp	$	25,527
1,531		Zenith National Insurance Corp		60,735
		TOTAL INSURANCE CARRIERS		26,805,390
JUSTICE, PUBLIC ORDER AND SAFETY - 0.02%
1,667	*	Corrections Corp of America		88,251
537	*	Geo Group, Inc		18,822
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		107,073
LEATHER AND LEATHER PRODUCTS - 0.12%
15,984	*	Coach, Inc		477,922
530	*	CROCS, Inc		13,330
1,096	*	Genesco, Inc		37,122
1,472	*	Iconix Brand Group, Inc		24,052
1,090		Steven Madden Ltd		32,286
1,994	*	Timberland Co (Class A)		52,043
184		Weyco Group, Inc		4,272
2,253		Wolverine World Wide, Inc		52,562
		TOTAL LEATHER AND LEATHER PRODUCTS		693,589
LEGAL SERVICES - 0.01%
1,725	*	FTI Consulting, Inc		46,178
489		Pre-Paid Legal Services, Inc		16,871
		TOTAL LEGAL SERVICES		63,049
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.02%
4,058		Laidlaw International, Inc		102,262
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		102,262
LUMBER AND WOOD PRODUCTS - 0.04%
466		American Woodmark Corp		16,329
2,979	*	Champion Enterprises, Inc		32,888
446		Deltic Timber Corp		25,141
4,339		Louisiana-Pacific Corp		95,024
374		Skyline Corp		16,000
681		Universal Forest Products, Inc		42,719
		TOTAL LUMBER AND WOOD PRODUCTS		228,101
METAL MINING - 0.38%
901		Cleveland-Cliffs, Inc		71,440
11,953	*	Coeur d'Alene Mines Corp		57,494
7,823		Freeport-McMoRan Copper & Gold, Inc (Class A)		433,472
5,707	*	Hecla Mining Co		29,962
17,286		Newmont Mining Corp		914,948
8,484		Phelps Dodge Corp		697,045
1,026		Royal Gold, Inc		28,543
282		Southern Copper Corp		25,135
1,962	*	Stillwater Mining Co		24,878
		TOTAL METAL MINING		2,282,917
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.20%
1,085		Blyth, Inc		20,029
2,987		Callaway Golf Co		38,801
1,396		Daktronics, Inc		40,303

139

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,182		Fortune Brands, Inc	$	438,984
6,926		Hasbro, Inc		125,430
3,284	*	Identix, Inc		22,955
917	*	Jakks Pacific, Inc		18,423
1,666	*	K2, Inc		18,226
396		Marine Products Corp		3,853
16,198		Mattel, Inc		267,429
1,290		Nautilus, Inc		20,266
2,173	*	Progressive Gaming International Corp		16,949
953	*	RC2 Corp		36,843
395	*	Russ Berrie & Co, Inc		4,843
1,355	*	Shuffle Master, Inc		44,417
380	*	Steinway Musical Instruments, Inc		9,318
1,729		Yankee Candle Co, Inc		43,242
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,170,311
MISCELLANEOUS RETAIL - 1.18%
833	*	1-800-FLOWERS.COM, Inc (Class A)		4,806
409	*	AC Moore Arts & Crafts, Inc		6,671
12,971	*	Amazon.com, Inc		501,718
2,166		Barnes & Noble, Inc		79,059
844		Big 5 Sporting Goods Corp		16,458
507	*	Blue Nile, Inc		16,305
594		Books-A-Million, Inc		9,908
2,777		Borders Group, Inc		51,263
530	*	Build-A-Bear Workshop, Inc		11,400
1,324		Cash America International, Inc		42,368
2,131	*	CKX, Inc		28,918
2,484	*	Coldwater Creek, Inc		66,472
33,971		CVS Corp		1,042,910
845	*	dELiA*s, Inc		6,828
1,356	*	Dick's Sporting Goods, Inc		53,698
4,474	*	Dollar Tree Stores, Inc		118,561
2,404	*	Drugstore.com, Inc		6,972
499	*	Ezcorp, Inc		18,807
1,644	*	GSI Commerce, Inc		22,243
1,301	*	Hibbett Sporting Goods, Inc		31,094
1,317		Longs Drug Stores Corp		60,082
5,640		Michaels Stores, Inc		232,594
1,675		MSC Industrial Direct Co (Class A)		79,680
1,331	*	Nutri/System, Inc		82,695
12,013	*	Office Depot, Inc		456,494
2,955		OfficeMax, Inc		120,416
568	*	Overstock.com, Inc		12,076
2,661	*	Petco Animal Supplies, Inc		54,364
5,993		Petsmart, Inc		153,421
1,125	*	Priceline.com, Inc		33,593
22,239	*	Rite Aid Corp		94,293
3,546	*	Sears Holdings Corp		549,063
303	*	Sportsman's Guide, Inc		9,242
726	*	Stamps.com, Inc		20,197
30,414		Staples, Inc		739,668
5,934		Tiffany & Co		195,941
1,263	*	Valuevision International, Inc (Class A)		13,931

140

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
42,063		Walgreen Co	$	1,886,105
1,046		World Fuel Services Corp		47,792
1,929	*	Zale Corp		46,470
530	*	Zumiez, Inc		19,912
		TOTAL MISCELLANEOUS RETAIL		7,044,488
MOTION PICTURES - 1.34%
1,599	*	Avid Technology, Inc		53,295
7,104	*	Blockbuster, Inc (Class A)		35,378
417		Carmike Cinemas, Inc		8,790
11,560	*	Discovery Holding Co (Class A)		169,123
1,858	*	DreamWorks Animation SKG, Inc (Class A)		42,548
655	*	Gaiam, Inc		9,183
2,158	*	Macrovision Corp		46,440
95,691		News Corp (Class A)		1,835,353
2,626		Regal Entertainment Group (Class A)		53,360
3,430	*	Time Warner Telecom, Inc (Class A)		50,936
174,407		Time Warner, Inc		3,017,241
90,913		Walt Disney Co		2,727,396
		TOTAL MOTION PICTURES		8,049,043
NONDEPOSITORY INSTITUTIONS - 1.74%
717	*	Accredited Home Lenders Holding Co		34,280
2,821		Advance America Cash Advance Centers, Inc		49,480
811		Advanta Corp (Class B)		29,155
5,432		American Capital Strategies Ltd		181,863
45,523		American Express Co		2,422,734
5,283	*	AmeriCredit Corp		147,501
1,920		Ares Capital Corp		32,506
507		Asta Funding, Inc		18,987
12,550		Capital One Financial Corp		1,072,398
3,711		CapitalSource, Inc		87,060
2,162		CharterMac		40,451
8,266		CIT Group, Inc		432,229
931	*	CompuCredit Corp		35,788
25,038		Countrywide Financial Corp		953,447
396	*	Credit Acceptance Corp		10,747
3,470		Doral Financial Corp		22,243
40,319		Fannie Mae		1,939,344
346		Federal Agricultural Mortgage Corp (Class C)		9,584
977		Financial Federal Corp		27,170
1,280	*	First Cash Financial Services, Inc		25,280
1,266		First Marblehead Corp		72,086
28,802		Freddie Mac		1,642,002
1,906	*	INVESTools, Inc		15,134
2,597		MCG Capital Corp		41,292
596		Medallion Financial Corp		7,724
813	*	Nelnet, Inc		32,967
619		NGP Capital Resources Co		9,056
1,848	*	Ocwen Financial Corp		23,488
17,155		SLM Corp		907,843
159		Student Loan Corp		32,118
1,050		Technology Investment Capital Corp		15,383
417	*	United PanAm Financial Corp		12,677

141

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
637	*	World Acceptance Corp	$	22,626
		TOTAL NONDEPOSITORY INSTITUTIONS		10,406,643
NONMETALLIC MINERALS, EXCEPT FUELS - 0.08%
1,000		AMCOL International Corp		26,350
1,338		Compass Minerals International, Inc		33,383
1,991		Florida Rock Industries, Inc		98,893
4,182		Vulcan Materials Co		326,196
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		484,822
OIL AND GAS EXTRACTION - 2.38%
19,058		Anadarko Petroleum Corp		908,876
13,727		Apache Corp		936,868
448	*	Arena Resources, Inc		15,362
831	*	Atlas America, Inc		37,237
934	*	ATP Oil & Gas Corp		39,163
1,010	*	Atwood Oceanics, Inc		50,096
2,777	*	Aurora Oil & Gas Corp		11,108
14,162		Baker Hughes, Inc		1,159,160
440	*	Basic Energy Services, Inc		13,451
1,314		Berry Petroleum Co (Class A)		43,559
1,186	*	Bill Barrett Corp		35,117
13,370		BJ Services Co		498,166
472	*	Bois d'Arc Energy, Inc		7,774
1,879	*	Brigham Exploration Co		14,863
440	*	Bronco Drilling Co, Inc		9,192
2,030		Cabot Oil & Gas Corp (Class A)		99,470
850	*	Callon Petroleum Co		16,439
718	*	Carrizo Oil & Gas, Inc		22,481
2,220	*	Cheniere Energy, Inc		86,580
14,109		Chesapeake Energy Corp		426,797
3,503		Cimarex Energy Co		150,629
220	*	Clayton Williams Energy, Inc		7,599
1,156	*	CNX Gas Corp		34,680
1,087	*	Complete Production Services, Inc		25,697
1,937	*	Comstock Resources, Inc		57,839
306	*	Dawson Geophysical Co		9,416
1,526		Delta & Pine Land Co		44,864
1,827	*	Delta Petroleum Corp		31,297
4,950	*	Denbury Resources, Inc		156,767
18,282		Devon Energy Corp		1,104,416
2,401		Diamond Offshore Drilling, Inc		201,516
706	*	Edge Petroleum Corp		14,106
2,285	*	Encore Acquisition Co		61,307
1,602	*	Energy Partners Ltd		30,358
6,365		ENSCO International, Inc		292,917
5,014		Equitable Resources, Inc		167,969
2,650	*	EXCO Resources, Inc		30,210
1,187	*	Exploration Co of Delaware, Inc		12,653
2,220	*	Forest Oil Corp		73,615
3,815	*	Gasco Energy, Inc		16,977
1,257	*	GeoGlobal Resources, Inc		6,147
3,398	*	Global Industries Ltd		56,747
332	*	GMX Resources, Inc		10,265

142

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
406	*	Goodrich Petroleum Corp	$	11,526
7,751	*	Grey Wolf, Inc		59,683
550	*	Gulfport Energy Corp		6,072
21,386		Halliburton Co		1,587,055
4,244	*	Hanover Compressor Co		79,702
2,309	*	Harvest Natural Resources, Inc		31,264
3,196	*	Helix Energy Solutions Group, Inc		128,991
2,180		Helmerich & Payne, Inc		131,367
835	*	Hercules Offshore, Inc		29,225
1,363	*	Houston Exploration Co		83,402
2,035	*	KCS Energy, Inc		60,440
3,029	*	Mariner Energy, Inc		55,643
755	*	McMoRan Exploration Co		13,288
2,913	*	Meridian Resource Corp		10,196
660	*	Metretek Technologies, Inc		11,339
7,134	*	National Oilwell Varco, Inc		451,725
5,265	*	Newfield Exploration Co		257,669
3,099	*	Newpark Resources, Inc		19,059
7,340		Noble Energy, Inc		343,952
2,184	*	Oceaneering International, Inc		100,136
1,658	*	Parallel Petroleum Corp		40,969
4,931	*	Parker Drilling Co		35,405
7,002		Patterson-UTI Energy, Inc		198,227
272	v*	PetroCorp		(0	)
2,594	*	PetroHawk Energy Corp		32,684
711	*	Petroleum Development Corp		26,805
2,175	*	Petroquest Energy, Inc		26,709
1,729	*	Pioneer Drilling Co		26,696
5,307		Pioneer Natural Resources Co		246,298
3,362	*	Plains Exploration & Production Co		136,295
2,409		Pogo Producing Co		111,055
6,724	*	Pride International, Inc		209,991
800	*	Quest Resource Corp		10,840
2,593	*	Quicksilver Resources, Inc		95,448
5,465		Range Resources Corp		148,593
1,204	*	Remington Oil & Gas Corp		52,940
2,380	*	Rosetta Resources, Inc		39,556
4,573		Rowan Cos, Inc		162,753
1,154		RPC, Inc		28,019
854	*	SEACOR Holdings, Inc		70,113
6,974	*	Southwestern Energy Co		217,310
2,381		St. Mary Land & Exploration Co		95,835
1,169	*	Stone Energy Corp		54,463
1,424	*	Sulphco, Inc		10,196
3,287	*	Superior Energy Services		111,429
440	*	Superior Well Services, Inc		10,956
1,141	*	Swift Energy Co		48,983
2,688	*	Syntroleum Corp		16,316
3,175	*	Tetra Technologies, Inc		96,171
2,625		Tidewater, Inc		129,150
2,569		Todco		104,944
541	*	Toreador Resources Corp		15,218
2,879	*	Transmeridian Exploration, Inc		16,410
1,366	*	Transmontaigne, Inc		15,313

143

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
487	*	Trico Marine Services, Inc	$	16,558
700	*	Union Drilling, Inc		10,402
1,941	*	Unit Corp		110,423
2,372	*	Vaalco Energy, Inc		23,151
1,571	*	Veritas DGC, Inc		81,032
683		W&T Offshore, Inc		26,562
2,215	*	Warren Resources, Inc		31,807
399	*	Warrior Energy Service Corp		9,708
1,233	*	W-H Energy Services, Inc		62,673
1,549	*	Whiting Petroleum Corp		64,857
15,094		XTO Energy, Inc		668,211
		TOTAL OIL AND GAS EXTRACTION		14,248,958
PAPER AND ALLIED PRODUCTS - 0.51%
4,350		Bemis Co		133,197
2,135		Bowater, Inc		48,571
1,509	*	Buckeye Technologies, Inc		11,529
1,364	*	Caraustar Industries, Inc		12,276
2,680	*	Cenveo, Inc		48,106
543		Chesapeake Corp		8,911
1,848		Glatfelter		29,328
3,362	*	Graphic Packaging Corp		12,742
689		Greif, Inc (Class A)		51,647
20,517		International Paper Co		662,731
19,106		Kimberly-Clark Corp		1,178,840
2,339		Longview Fibre Co		44,652
7,562		MeadWestvaco Corp		211,207
800	*	Mercer International, Inc		6,944
685		Neenah Paper, Inc		20,858
3,386		Packaging Corp of America		74,560
2,335	*	Playtex Products, Inc		24,354
1,322		Rock-Tenn Co (Class A)		21,086
644		Schweitzer-Mauduit International, Inc		13,943
10,583	*	Smurfit-Stone Container Corp		115,778
4,116		Sonoco Products Co		130,271
4,498		Temple-Inland, Inc		192,829
2,041		Wausau Paper Corp		25,410
		TOTAL PAPER AND ALLIED PRODUCTS		3,079,770
PERSONAL SERVICES - 0.15%
5,697		Cintas Corp		226,513
1,150	*	Coinstar, Inc		27,531
905		G & K Services, Inc (Class A)		31,042
13,671		H&R Block, Inc		326,190
1,660		Jackson Hewitt Tax Service, Inc		52,041
1,855		Regis Corp		66,057
12,285		Service Corp International		100,000
349		Unifirst Corp		12,041
1,929		Weight Watchers International, Inc		78,877
		TOTAL PERSONAL SERVICES		920,292
PETROLEUM AND COAL PRODUCTS - 5.67%
734		Alon USA Energy, Inc		23,099
2,737		Ashland, Inc		182,558

144

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
92,121		Chevron Corp	$	5,717,029
68,600		ConocoPhillips		4,495,358
440	*	Delek US Holdings, Inc		6,688
790		ElkCorp		21,938
10,048		EOG Resources, Inc		696,728
251,458		Exxon Mobil Corp		15,426,948
4,716		Frontier Oil Corp		152,798
530	*	Giant Industries, Inc		35,272
1,566	*	Headwaters, Inc		40,027
10,039		Hess Corp		530,561
2,001		Holly Corp		96,448
9,434		Kerr-McGee Corp		654,248
15,064		Marathon Oil Corp		1,254,831
7,753		Murphy Oil Corp		433,083
17,682		Occidental Petroleum Corp		1,813,289
5,522		Sunoco, Inc		382,619
2,852		Tesoro Corp		212,075
25,575		Valero Energy Corp		1,701,249
756		WD-40 Co		25,379
1,158		Western Refining, Inc		24,990
		TOTAL PETROLEUM AND COAL PRODUCTS		33,927,215
PRIMARY METAL INDUSTRIES - 1.02%
4,707	*	AK Steel Holding Corp		65,098
36,162		Alcoa, Inc		1,170,202
1,438	*	Aleris International, Inc		65,932
4,080		Allegheny Technologies, Inc		282,499
1,885		Belden CDT, Inc		62,299
823	*	Brush Engineered Materials, Inc		17,160
1,059		Carpenter Technology Corp		122,315
1,052	*	Century Aluminum Co		37,546
960	*	Chaparral Steel Co		69,139
2,318	*	CommScope, Inc		72,832
64,737	*	Corning, Inc		1,565,988
824	*	Encore Wire Corp		29,615
2,228	*	General Cable Corp		77,980
1,035		Gibraltar Industries, Inc		30,015
2,600		Hubbell, Inc (Class B)		123,890
1,307	*	Lone Star Technologies, Inc		70,604
1,230		Matthews International Corp (Class A)		42,398
1,583	*	Maverick Tube Corp		100,030
1,588		Mueller Industries, Inc		52,452
820	*	NS Group, Inc		45,166
12,952		Nucor Corp		702,646
341		Olympic Steel, Inc		12,068
1,531	*	Oregon Steel Mills, Inc		77,560
5,619		Precision Castparts Corp		335,791
1,470		Quanex Corp		63,313
899	*	RTI International Metals, Inc		50,200
889		Schnitzer Steel Industries, Inc (Class A)		31,542
1,922		Steel Dynamics, Inc		126,352
416		Steel Technologies, Inc		8,087
833	*	Superior Essex, Inc		24,932
960		Texas Industries, Inc		50,976

145

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,084	*	Titanium Metals Corp	$	106,028
1,244		Tredegar Corp		19,680
4,606		United States Steel Corp		322,973
601	*	Wheeling-Pittsburgh Corp		11,954
2,853		Worthington Industries, Inc		59,770
		TOTAL PRIMARY METAL INDUSTRIES		6,107,032
PRINTING AND PUBLISHING - 0.64%
1,883	*	ACCO Brands Corp		41,238
2,454		American Greetings Corp (Class A)		51,559
1,124		Banta Corp		52,075
3,644		Belo (A.H.) Corp Series A		56,846
1,610		Bowne & Co, Inc		23,023
468	*	Consolidated Graphics, Inc		24,364
401		Courier Corp		16,048
347		CSS Industries, Inc		9,976
2,456		Dow Jones & Co, Inc		85,985
2,830	*	Dun & Bradstreet Corp		197,194
1,046		Ennis, Inc		20,585
3,541		EW Scripps Co		152,759
9,882		Gannett Co, Inc		552,700
2,236		Harte-Hanks, Inc		57,331
3,143		Hollinger International, Inc		25,238
1,187		John H Harland Co		51,635
2,248		John Wiley & Sons, Inc (Class A)		74,634
1,810		Journal Communications, Inc		20,344
1,302		Journal Register Co		11,666
1,820		Lee Enterprises, Inc		49,049
867	*	Martha Stewart Living Omnimedia, Inc (Class A)		14,488
2,144		McClatchy Co (Class A)		86,017
15,092		McGraw-Hill Cos, Inc		758,071
823		Media General, Inc (Class A)		34,475
1,705		Meredith Corp		84,466
5,552		New York Times Co (Class A)		136,246
975	*	Playboy Enterprises, Inc (Class B)		9,731
1,422	*	Presstek, Inc		13,239
5,941	*	Primedia, Inc		10,872
2,273		R.H. Donnelley Corp		122,901
8,989		R.R. Donnelley & Sons Co		287,199
4,012		Reader's Digest Association, Inc (Class A)		56,008
630		Schawk, Inc		11,025
1,345	*	Scholastic Corp		34,930
760		Standard Register Co		9,006
10,163		Tribune Co		329,586
2,239	*	Valassis Communications, Inc		52,818
232		Washington Post Co (Class B)		180,962
		TOTAL PRINTING AND PUBLISHING		3,806,289
RAILROAD TRANSPORTATION - 0.67%
15,152		Burlington Northern Santa Fe Corp		1,200,796
9,123		CSX Corp		642,624
1,483		Florida East Coast Industries		77,605
1,632	*	Genesee & Wyoming, Inc (Class A)		57,887
3,058	*	Kansas City Southern Industries, Inc		84,707

146

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
17,137		Norfolk Southern Corp	$	912,031
11,107		Union Pacific Corp		1,032,507
		TOTAL RAILROAD TRANSPORTATION		4,008,157
REAL ESTATE - 0.12%
1,536	*	Alderwoods Group, Inc		29,891
297	*	California Coastal Communities, Inc		9,504
7,653	*	CB Richard Ellis Group, Inc		190,560
255		Consolidated-Tomoka Land Co		14,061
2,862		Forest City Enterprises, Inc (Class A)		142,842
1,487		Jones Lang LaSalle, Inc		130,187
254		Orleans Homebuilders, Inc		4,128
3,154		St. Joe Co		146,787
4,149		Stewart Enterprises, Inc (Class A)		23,857
1,322	*	Trammell Crow Co		46,495
		TOTAL REAL ESTATE		738,312
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.15%
299	*	AEP Industries, Inc		9,993
731	*	Applied Films Corp		20,826
2,282		Cooper Tire & Rubber Co		25,421
387	*	Deckers Outdoor Corp		14,923
7,346	*	Goodyear Tire & Rubber Co		81,541
2,011	*	Jarden Corp		61,235
11,281		Newell Rubbermaid, Inc		291,388
439		PW Eagle, Inc		13,275
1,206		Schulman (A.), Inc		27,605
3,452		Sealed Air Corp		179,780
618	*	Skechers U.S.A., Inc (Class A)		14,900
1,100		Spartech Corp		24,860
488		Titan International, Inc		9,130
479	*	Trex Co, Inc		12,401
2,225		Tupperware Corp		43,810
1,354		West Pharmaceutical Services, Inc		49,123
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		880,211
SECURITY AND COMMODITY BROKERS - 2.79%
3,193		A.G. Edwards, Inc		176,637
8,930		Ameriprise Financial, Inc		398,903
5,029		Bear Stearns Cos, Inc		704,462
820		BlackRock, Inc		114,119
1,050		Calamos Asset Management, Inc (Class A)		30,440
2,197	*	Cbot Holdings, Inc		262,739
43,935		Charles Schwab Corp		702,097
1,443		Chicago Mercantile Exchange Holdings, Inc		708,729
551		Cohen & Steers, Inc		13,004
17,632	*	E*Trade Financial Corp		402,362
5,400		Eaton Vance Corp		134,784
3,768		Federated Investors, Inc (Class B)		118,692
7,090		Franklin Resources, Inc		615,483
290		GAMCO Investors, Inc		10,660
491	*	GFI Group, Inc		26,489
15,854		Goldman Sachs Group, Inc		2,384,917
731		Greenhill & Co, Inc		44,416

147

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
790	*	IntercontinentalExchange, Inc	$	45,773
1,586		International Securities Exchange, Inc		60,379
1,798	*	Investment Technology Group, Inc		91,446
8,632		Janus Capital Group, Inc		154,513
4,925		Jefferies Group, Inc		145,928
4,728	*	Knight Capital Group, Inc		72,007
2,582	*	LaBranche & Co, Inc		31,268
5,300		Legg Mason, Inc		527,456
22,257		Lehman Brothers Holdings, Inc		1,450,044
824	*	MarketAxess Holdings, Inc		9,072
38,291		Merrill Lynch & Co, Inc		2,663,522
44,516		Morgan Stanley		2,813,856
589	*	Morningstar, Inc		24,432
3,918	*	Nasdaq Stock Market, Inc		117,148
3,288		Nuveen Investments, Inc		141,548
6,477	*	NYSE Group, Inc		443,545
671		optionsXpress Holdings, Inc		15,641
904	*	Piper Jaffray Cos		55,334
3,604		Raymond James Financial, Inc		109,093
446		Sanders Morris Harris Group, Inc		6,739
2,712		SEI Investments Co		132,563
494	*	Stifel Financial Corp		17,443
537		SWS Group, Inc		12,952
10,880		T Rowe Price Group, Inc		411,373
13,161		TD Ameritrade Holding Corp		194,914
39		Value Line, Inc		1,665
3,524		Waddell & Reed Financial, Inc (Class A)		72,453
		TOTAL SECURITY AND COMMODITY BROKERS		16,671,040
SOCIAL SERVICES - 0.01%
1,028	*	Bright Horizons Family Solutions, Inc		38,745
900	*	Capital Senior Living Corp		9,252
350	*	Providence Service Corp		9,531
1,454	*	Res-Care, Inc		29,080
		TOTAL SOCIAL SERVICES		86,608
SPECIAL TRADE CONTRACTORS - 0.06%
136		Alico, Inc		7,495
1,090		Chemed Corp		59,438
1,912		Comfort Systems USA, Inc		27,322
1,924	*	Dycom Industries, Inc		40,962
1,394	*	EMCOR Group, Inc		67,846
1,130	*	Insituform Technologies, Inc (Class A)		25,866
636	*	Integrated Electrical Services, Inc		11,111
543	*	Layne Christensen Co		15,394
4,630	*	Quanta Services, Inc		80,238
		TOTAL SPECIAL TRADE CONTRACTORS		335,672
STONE, CLAY, AND GLASS PRODUCTS - 0.09%
1,309		Apogee Enterprises, Inc		19,242
940	*	Cabot Microelectronics Corp		28,521
899		CARBO Ceramics, Inc		44,168
2,106		Eagle Materials, Inc		100,035
6,410		Gentex Corp		89,740

148

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,374	*	Owens-Illinois, Inc	$	106,828
1,387	*	US Concrete, Inc		15,326
1,611	b*	USG Corp		117,490
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		521,350
TEXTILE MILL PRODUCTS - 0.01%
678		Oxford Industries, Inc		26,720
517		Xerium Technologies, Inc		4,870
		TOTAL TEXTILE MILL PRODUCTS		31,590
TOBACCO PRODUCTS - 1.16%
86,788		Altria Group, Inc		6,372,843
3,878		Loews Corp (Carolina Group)		199,213
1,216		Universal Corp		45,260
6,812		UST, Inc		307,834
1,766		Vector Group Ltd		28,698
		TOTAL TOBACCO PRODUCTS		6,953,848
TRANSPORTATION BY AIR - 0.52%
2,186	*	ABX Air, Inc		13,203
437	*	Air Methods Corp		11,441
3,537	*	Airtran Holdings, Inc		52,560
1,658	*	Alaska Air Group, Inc		65,358
8,765	*	AMR Corp		222,806
832	*	Atlas Air Worldwide Holdings, Inc		40,801
881	*	Bristow Group, Inc		31,716
3,743	*	Continental Airlines, Inc (Class B)		111,541
1,210	*	EGL, Inc		60,742
1,162	*	ExpressJet Holdings, Inc		8,029
12,683		FedEx Corp		1,482,251
1,444	*	Frontier Airlines Holdings, Inc		10,411
7,198	*	JetBlue Airways Corp		87,384
1,553	*	Mesa Air Group, Inc		15,297
569	*	PHI, Inc		18,891
1,023	*	Republic Airways Holdings, Inc		17,411
2,495		Skywest, Inc		61,876
33,049		Southwest Airlines Co		541,012
4,098	*	UAL Corp		127,120
2,527	*	US Airways Group, Inc		127,715
		TOTAL TRANSPORTATION BY AIR		3,107,565
TRANSPORTATION EQUIPMENT - 2.60%
853		A.O. Smith Corp		39,545
1,823	*	AAR Corp		40,525
1,400	*	Accuride Corp		17,458
1,251	*	Aftermarket Technology Corp		31,087
2,166		American Axle & Manufacturing Holdings, Inc		37,060
440		American Railcar Industries, Inc		14,568
683		Arctic Cat, Inc		13,325
1,246	*	Armor Holdings, Inc		68,318
2,809		ArvinMeritor, Inc		48,287
3,475		Autoliv, Inc		196,581
1,435	*	Aviall, Inc		68,191
33,274		Boeing Co		2,725,473

149

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,049		Brunswick Corp	$	134,629
2,068		Clarcor, Inc		61,606
606	*	Comtech Group, Inc		6,745
2,052		Federal Signal Corp		31,067
3,267	*	Fleetwood Enterprises, Inc		24,633
75,020		Ford Motor Co		519,895
572		Freightcar America, Inc		31,752
2,062	*	GenCorp, Inc		33,054
16,756		General Dynamics Corp		1,096,848
19,624		General Motors Corp		584,599
426	*	GenTek, Inc		11,438
7,174		Genuine Parts Co		298,869
5,049		Goodrich Corp		203,424
560		Greenbrier Cos, Inc		18,334
1,019		Group 1 Automotive, Inc		57,410
11,316		Harley-Davidson, Inc		621,135
1,746		Harsco Corp		136,118
755		Heico Corp		21,404
914	*	IMPCO Technologies, Inc		9,752
7,716		ITT Industries, Inc		381,942
4,410		JLG Industries, Inc		99,225
1,050	*	K&F Industries Holdings, Inc		18,617
930		Kaman Corp (Class A)		16,926
15,221		Lockheed Martin Corp		1,091,955
1,952		Martin Marietta Materials, Inc		177,925
385	*	Miller Industries, Inc		7,970
1,116		Monaco Coach Corp		14,173
2,464	*	Navistar International Corp		60,639
522		Noble International Ltd		7,475
14,283		Northrop Grumman Corp		914,969
2,650	*	Orbital Sciences Corp		42,771
3,104		Oshkosh Truck Corp		147,502
6,926		Paccar, Inc		570,564
6,277	*	Pactiv Corp		155,356
1,859		Polaris Industries, Inc		80,495
18,549		Raytheon Co		826,729
317	*	Sequa Corp (Class A)		25,836
955		Superior Industries International, Inc		17,467
2,104	*	Tenneco, Inc		54,704
5,409		Textron, Inc		498,602
1,473		Thor Industries, Inc		71,367
455	*	TransDigm Group, Inc		10,897
3,275		Trinity Industries, Inc		132,310
837	*	Triumph Group, Inc		40,176
1,973	*	TRW Automotive Holdings Corp		53,823
42,011		United Technologies Corp		2,664,338
6,104	*	Visteon Corp		44,010
1,163		Wabash National Corp		17,864
2,024		Westinghouse Air Brake Technologies Corp		75,698
1,627		Winnebago Industries, Inc		50,502
		TOTAL TRANSPORTATION EQUIPMENT		15,575,957
TRANSPORTATION SERVICES - 0.22%
857		Ambassadors Group, Inc		24,750

150

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
287		Ambassadors International, Inc	$	6,673
7,270		CH Robinson Worldwide, Inc		387,491
448	*	Dynamex, Inc		9,771
8,750		Expeditors International Washington, Inc		490,088
1,864		GATX Corp		79,220
1,496	*	HUB Group, Inc		36,697
2,900		Lear Corp		64,409
644	*	Navigant International, Inc		10,323
1,558		Pacer International, Inc		50,760
1,597	*	RailAmerica, Inc		16,705
5,609		Sabre Holdings Corp		123,420
		TOTAL TRANSPORTATION SERVICES		1,300,307
TRUCKING AND WAREHOUSING - 0.51%
1,183		Arkansas Best Corp		59,398
956	*	Celadon Group, Inc		21,070
2,097		Con-way, Inc		121,479
1,489		Forward Air Corp		60,647
2,486		Heartland Express, Inc		44,475
4,746		J.B. Hunt Transport Services, Inc		118,223
2,528		Landstar System, Inc		119,397
483	*	Marten Transport Ltd		10,500
1,068	*	Old Dominion Freight Line		40,146
181	*	P.A.M. Transportation Services, Inc		5,229
725	*	SCS Transportation, Inc		19,959
2,290	*	SIRVA, Inc		14,816
2,212	*	Swift Transportation Co, Inc		70,253
247	*	U.S. Xpress Enterprises, Inc (Class A)		6,674
26,766		United Parcel Service, Inc (Class B)		2,203,645
243	*	Universal Truckload Services, Inc		8,294
620	*	USA Truck, Inc		11,048
2,025		Werner Enterprises, Inc		41,047
2,384	*	YRC Worldwide, Inc		100,390
		TOTAL TRUCKING AND WAREHOUSING		3,076,690
WATER TRANSPORTATION - 0.07%
1,934		Alexander & Baldwin, Inc		85,618
1,282	*	American Commercial Lines, Inc		77,241
684	*	Gulfmark Offshore, Inc		17,668
1,400		Horizon Lines, Inc		22,428
960	*	Hornbeck Offshore Services, Inc		34,099
2,178	*	Kirby Corp		86,031
338		Maritrans, Inc		8,416
1,293		Overseas Shipholding Group, Inc		76,481
		TOTAL WATER TRANSPORTATION		407,982
WHOLESALE TRADE-DURABLE GOODS - 2.79%
3,836		Adesa, Inc		85,313
1,200		Agilysys, Inc		21,600
1,776		Applied Industrial Technologies, Inc		43,175
5,073	*	Arrow Electronics, Inc		163,351
1,565		Barnes Group, Inc		31,222
1,810	*	Beacon Roofing Supply, Inc		39,838
501		BlueLinx Holdings, Inc		6,528

151

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,380		BorgWarner, Inc	$	154,938
1,324		Building Material Holding Corp		36,900
590		Castle (A.M.) & Co		19,028
931	*	Conceptus, Inc		12,699
4,781	*	Cytyc Corp		121,246
984	*	Digi International, Inc		12,330
578	*	Drew Industries, Inc		18,727
432,176	d	General Electric Co		14,244,521
1,731	*	Genesis Microchip, Inc		20,010
4,695		IKON Office Solutions, Inc		59,157
5,656	*	Ingram Micro, Inc (Class A)		102,543
1,949	*	Insight Enterprises, Inc		37,128
1,134	*	Interline Brands, Inc		26,513
655	*	Keystone Automotive Industries, Inc		27,654
2,457		Knight Transportation, Inc		49,631
177		Lawson Products, Inc		6,977
1,867	*	LKQ Corp		35,473
1,033	*	Merge Technologies, Inc		12,716
440	*	MWI Veterinary Supply, Inc		16,029
4,967		Omnicare, Inc		235,535
1,638		Owens & Minor, Inc		46,847
5,740	*	Patterson Cos, Inc		200,498
1,947		PEP Boys-Manny Moe & Jack		22,838
2,101		Pool Corp		91,667
2,786	*	PSS World Medical, Inc		49,173
1,352		Reliance Steel & Aluminum Co		112,148
1,300		Ryerson Tull, Inc		35,100
2,247	*	Tech Data Corp		86,083
1,838	*	Tyler Technologies, Inc		20,586
3,223		W.W. Grainger, Inc		242,466
2,007	*	WESCO International, Inc		138,483
304	*	West Marine, Inc		4,098
		TOTAL WHOLESALE TRADE-DURABLE GOODS		16,690,769
WHOLESALE TRADE-NONDURABLE GOODS - 0.77%
2,813		Airgas, Inc		104,784
1,844	*	Akorn, Inc		7,339
3,159		Alliance One International, Inc		14,026
1,944	*	Allscripts Healthcare Solutions, Inc		34,117
2,555		Brown-Forman Corp (Class B)		182,555
17,443		Cardinal Health, Inc		1,122,172
1,536	*	Central European Distribution Corp		38,646
411	*	Core-Mark Holding Co, Inc		14,714
5,796	*	Dean Foods Co		215,553
5,525	*	Endo Pharmaceuticals Holdings, Inc		182,215
164	*	Green Mountain Coffee Roasters, Inc		6,588
1,065	*	Hain Celestial Group, Inc		27,434
3,738	*	Henry Schein, Inc		174,677
369		Kenneth Cole Productions, Inc (Class A)		8,240
1,029		K-Swiss, Inc (Class A)		27,474
136	*	Maui Land & Pineapple Co, Inc		5,141
1,893		Men's Wearhouse, Inc		57,358
1,155		Myers Industries, Inc		19,854
485		Nash Finch Co		10,326

152

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
7,934		Nike, Inc (Class B)	$	642,654
2,249		Nu Skin Enterprises, Inc (Class A)		33,398
650	*	Nuco2, Inc		15,626
1,301	*	Performance Food Group Co		39,524
215	*	Perry Ellis International, Inc		5,442
18,708		Safeway, Inc		486,408
1,103	*	School Specialty, Inc		35,131
597	*	Smart & Final, Inc		10,053
983	*	Source Interlink Cos, Inc		11,698
786		Spartan Stores, Inc		11,499
1,605		Stride Rite Corp		21,170
25,710		Sysco Corp		785,698
3,407	*	Terra Industries, Inc		21,703
514		The Andersons, Inc		21,388
1,489	*	Tractor Supply Co		82,297
1,745	*	United Natural Foods, Inc		57,620
1,425	*	United Stationers, Inc		70,281
356		Valhi, Inc		8,740
350	*	Volcom, Inc		11,197
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		4,624,740
		TOTAL COMMON STOCKS		592,053,800
		(Cost $454,694,230)
PRINCIPAL
SHORT-TERM INVESTMENTS - 1.03%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.03%
$     6,140,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		6,140,000
		TOTAL SHORT-TERM INVESTMENTS		6,140,000
		(Cost $6,138,339)
		TOTAL PORTFOLIO - 99.94%		598,193,800
		(Cost $460,832,569)
		OTHER ASSETS & LIABILITIES, NET - 0.06%		368,300
		NET ASSETS - 100.00%	$	598,562,100
	*	Non-income producing
	**	Percentage represents less than 0.01%
	b	In bankruptcy
	d	All or a portion of these securities have been segregated by the custodian to cover margin
		or other requirements on futures contracts.
	v	Security valued at fair value
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

153

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
S & P 500 INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 98.37%
AMUSEMENT AND RECREATION SERVICES - 0.11%
11,880		Harrah's Entertainment, Inc	$	845,618
		TOTAL AMUSEMENT AND RECREATION SERVICES		845,618
APPAREL AND ACCESSORY STORES - 0.40%
36,760		Gap, Inc		639,624
22,250	*	Kohl's Corp		1,315,420
22,224		Limited Brands, Inc		568,712
14,240		Nordstrom, Inc		519,760
		TOTAL APPAREL AND ACCESSORY STORES		3,043,516
APPAREL AND OTHER TEXTILE PRODUCTS - 0.11%
7,360		Jones Apparel Group, Inc		233,974
6,980		Liz Claiborne, Inc		258,679
5,660		VF Corp		384,427
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		877,080
AUTO REPAIR, SERVICES AND PARKING - 0.03%
3,960		Ryder System, Inc		231,383
		TOTAL AUTO REPAIR, SERVICES AND PARKING		231,383
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.07%
10,748	*	Autonation, Inc		230,437
3,590	*	Autozone, Inc		316,638
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		547,075
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.07%
135,470		Home Depot, Inc		4,848,471
50,340		Lowe's Cos, Inc		3,054,128
7,170		Sherwin-Williams Co		340,432
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		8,243,031
BUSINESS SERVICES - 6.21%
38,840	*	Adobe Systems, Inc		1,179,182
7,530	*	Affiliated Computer Services, Inc (Class A)		388,623
15,090	*	Autodesk, Inc		520,001
37,330		Automatic Data Processing, Inc		1,692,916
13,670	*	BMC Software, Inc		326,713
29,930		CA, Inc		615,062
64,940		Cendant Corp		1,057,873
12,076	*	Citrix Systems, Inc		484,731
12,280	*	Computer Sciences Corp		594,843
25,849	*	Compuware Corp		173,188
8,960	*	Convergys Corp		174,720
75,436	*	eBay, Inc		2,209,520
20,020	*	Electronic Arts, Inc		861,661

154

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
33,900		Electronic Data Systems Corp	$	815,634
8,580		Equifax, Inc		294,637
49,898		First Data Corp		2,247,406
11,181	*	Fiserv, Inc		507,170
13,510	*	Google, Inc (Class A)		5,665,148
12,877		IMS Health, Inc		345,747
29,152	*	Interpublic Group of Cos, Inc		243,419
11,500	*	Intuit, Inc		694,485
37,000	*	Juniper Networks, Inc		591,630
571,821		Microsoft Corp		13,323,429
8,371	*	Monster Worldwide, Inc		357,107
11,500	*	NCR Corp		421,360
25,080	*	Novell, Inc		166,280
11,500		Omnicom Group, Inc		1,024,535
254,130	*	Oracle Corp		3,682,344
6,900	*	Parametric Technology Corp		87,699
10,940		Robert Half International, Inc		459,480
228,620	*	Sun Microsystems, Inc		948,773
67,354	*	Symantec Corp		1,046,681
21,490	*	Unisys Corp		134,957
15,840	*	VeriSign, Inc		367,013
35,730		Waste Management, Inc		1,281,992
81,760	*	Yahoo!, Inc		2,698,080
		TOTAL BUSINESS SERVICES		47,684,039
CHEMICALS AND ALLIED PRODUCTS - 9.49%
99,471		Abbott Laboratories		4,337,930
14,640		Air Products & Chemicals, Inc		935,789
5,090		Alberto-Culver Co		247,985
76,720	*	Amgen, Inc		5,004,446
7,170		Avery Dennison Corp		416,290
29,130		Avon Products, Inc		903,030
7,000	*	Barr Pharmaceuticals, Inc		333,830
22,425	*	Biogen Idec, Inc		1,038,950
128,310		Bristol-Myers Squibb Co		3,318,097
9,820		Clorox Co		598,725
33,590		Colgate-Palmolive Co		2,012,041
62,710		Dow Chemical Co		2,447,571
59,921		Du Pont (E.I.) de Nemours & Co		2,492,714
5,380		Eastman Chemical Co		290,520
11,690		Ecolab, Inc		474,380
73,770		Eli Lilly & Co		4,077,268
7,830		Estee Lauder Cos (Class A)		302,786
21,120	*	Forest Laboratories, Inc		817,133
16,820	*	Genzyme Corp		1,026,861
29,790	*	Gilead Sciences, Inc		1,762,376
7,450	*	Hercules, Inc		113,687
10,560	*	Hospira, Inc		453,446
5,500		International Flavors & Fragrances, Inc		193,820
15,460	*	King Pharmaceuticals, Inc		262,820
16,370	*	Medimmune, Inc		443,627
142,320		Merck & Co, Inc		5,184,718
17,650		Monsanto Co		1,485,954
13,950		Mylan Laboratories, Inc		279,000

155

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
477,950		Pfizer, Inc	$	11,217,486
10,660		PPG Industries, Inc		703,560
20,830		Praxair, Inc		1,124,820
214,042		Procter & Gamble Co		11,900,735
9,550		Rohm & Haas Co		478,646
96,690		Schering-Plough Corp		1,840,011
4,340		Sigma-Aldrich Corp		315,258
6,410	*	Watson Pharmaceuticals, Inc		149,225
87,830		Wyeth		3,900,530
		TOTAL CHEMICALS AND ALLIED PRODUCTS		72,886,065
COAL MINING - 0.07%
11,200		Consol Energy, Inc		523,264
		TOTAL COAL MINING		523,264
COMMUNICATIONS - 4.48%
25,380		Alltel Corp		1,620,005
253,133		AT&T, Inc		7,059,879
26,770	*	Avaya, Inc		305,713
117,950		BellSouth Corp		4,269,790
50,150		CBS Corp		1,356,558
8,300		CenturyTel, Inc		308,345
20,740		Citizens Communications Co		270,657
33,370		Clear Channel Communications, Inc		1,032,801
137,616	*	Comcast Corp (Class A)		4,505,548
9,863	*	Embarq Corp		404,284
102,850	*	Qwest Communications International, Inc		832,057
194,346		Sprint Nextel Corp		3,884,977
14,330	*	Univision Communications, Inc (Class A)		480,055
190,320		Verizon Communications, Inc		6,373,817
47,420	*	Viacom, Inc		1,699,533
		TOTAL COMMUNICATIONS		34,404,019
DEPOSITORY INSTITUTIONS - 10.47%
22,440		AmSouth Bancorp		593,538
298,803		Bank of America Corp		14,372,424
50,380		Bank of New York Co, Inc		1,622,236
35,800		BB&T Corp		1,488,922
324,220		Citigroup, Inc		15,640,373
10,370		Comerica, Inc		539,136
12,000		Commerce Bancorp, Inc		428,040
8,420		Compass Bancshares, Inc		468,152
36,254		Fifth Third Bancorp		1,339,585
8,200		First Horizon National Corp		329,640
16,590		Golden West Financial Corp		1,230,978
15,920		Huntington Bancshares, Inc		375,394
226,566		JPMorgan Chase & Co		9,515,772
26,210		Keycorp		935,173
5,090		M&T Bank Corp		600,213
14,740		Marshall & Ilsley Corp		674,208
26,990		Mellon Financial Corp		929,266
35,397		National City Corp		1,281,017
30,400		North Fork Bancorporation, Inc		917,168
12,120		Northern Trust Corp		670,236

156

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
19,250		PNC Financial Services Group, Inc	$	1,350,773
29,621		Regions Financial Corp		981,047
23,950		Sovereign Bancorp, Inc		486,424
21,490		State Street Corp		1,248,354
23,850		SunTrust Banks, Inc		1,818,801
21,070		Synovus Financial Corp		564,255
115,940		US Bancorp		3,580,227
104,904		Wachovia Corp		5,673,208
63,088		Washington Mutual, Inc		2,875,551
109,530		Wells Fargo & Co		7,347,272
6,790		Zions Bancorporation		529,213
		TOTAL DEPOSITORY INSTITUTIONS		80,406,596
EATING AND DRINKING PLACES - 0.82%
8,770		Darden Restaurants, Inc		345,538
80,870		McDonald's Corp		2,717,232
50,086	*	Starbucks Corp		1,891,247
7,560		Wendy's International, Inc		440,672
17,720		Yum! Brands, Inc		890,784
		TOTAL EATING AND DRINKING PLACES		6,285,473
EDUCATIONAL SERVICES - 0.06%
9,050	*	Apollo Group, Inc (Class A)		467,613
		TOTAL EDUCATIONAL SERVICES		467,613
ELECTRIC, GAS, AND SANITARY SERVICES - 3.62%
43,050	*	AES Corp		794,272
10,750	*	Allegheny Energy, Inc		398,502
15,460	*	Allied Waste Industries, Inc		175,626
13,500		Ameren Corp		681,750
25,670		American Electric Power Co, Inc		879,198
20,460		Centerpoint Energy, Inc		255,750
14,800	*	CMS Energy Corp		191,512
16,150		Consolidated Edison, Inc		717,706
11,710		Constellation Energy Group, Inc		638,429
22,740		Dominion Resources, Inc		1,700,725
11,690		DTE Energy Co		476,251
80,544		Duke Energy Corp		2,365,577
23,660	*	Dynegy, Inc (Class A)		129,420
21,230		Edison International		827,970
45,330		El Paso Corp		679,950
13,580		Entergy Corp		960,785
43,590		Exelon Corp		2,477,220
21,310		FirstEnergy Corp		1,155,215
26,110		FPL Group, Inc		1,080,432
11,320		KeySpan Corp		457,328
6,890		Kinder Morgan, Inc		688,242
2,740		Nicor, Inc		113,710
17,250		NiSource, Inc		376,740
2,270		Peoples Energy Corp		81,516
22,660		PG&E Corp		890,085
6,410		Pinnacle West Capital Corp		255,823
24,820		PPL Corp		801,686
16,620		Progress Energy, Inc		712,499

157

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
16,430		Public Service Enterprise Group, Inc	$	1,086,352
16,900		Sempra Energy		768,612
48,390		Southern Co		1,550,900
13,110		TECO Energy, Inc		195,863
30,190		TXU Corp		1,805,060
38,890		Williams Cos, Inc		908,470
25,830		Xcel Energy, Inc		495,419
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		27,774,595
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.76%
7,317	*	ADC Telecommunications, Inc		123,365
31,800	*	Advanced Micro Devices, Inc		776,556
23,530	*	Altera Corp		412,951
11,461		American Power Conversion Corp		223,375
23,380		Analog Devices, Inc		751,433
9,848	*	Andrew Corp		87,253
29,810	*	Broadcom Corp (Class A)		895,791
40,910	*	Ciena Corp		196,777
398,144	*	Cisco Systems, Inc		7,775,752
13,525	*	Comverse Technology, Inc		267,389
6,050		Cooper Industries Ltd (Class A)		562,166
26,790		Emerson Electric Co		2,245,270
26,385	*	Freescale Semiconductor, Inc (Class B)		775,719
4,340		Harman International Industries, Inc		370,506
54,050		Honeywell International, Inc		2,178,215
379,420		Intel Corp		7,190,009
108,000	*	JDS Uniphase Corp		273,240
7,730		L-3 Communications Holdings, Inc		582,997
19,518		Linear Technology Corp		653,658
25,360	*	LSI Logic Corp		226,972
293,070	*	Lucent Technologies, Inc		709,229
20,655		Maxim Integrated Products, Inc		663,232
44,180	*	Micron Technology, Inc		665,351
9,073		Molex, Inc		304,581
161,191		Motorola, Inc		3,247,999
21,590		National Semiconductor Corp		514,921
24,255	*	Network Appliance, Inc		856,201
8,200	*	Novellus Systems, Inc		202,540
23,230	*	Nvidia Corp		494,567
13,860	*	PMC - Sierra, Inc		130,284
10,338	*	QLogic Corp		178,227
109,300		Qualcomm, Inc		4,379,651
8,390		RadioShack Corp		117,460
11,220		Rockwell Collins, Inc		626,861
34,600	*	Sanmina-SCI Corp		159,160
28,850	*	Tellabs, Inc		383,993
102,830		Texas Instruments, Inc		3,114,721
4,981		Whirlpool Corp		411,680
22,075		Xilinx, Inc		499,999
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		44,230,051
ENGINEERING AND MANAGEMENT SERVICES - 0.37%
5,570		Fluor Corp		517,620
15,950		Moody's Corp		868,637

158

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
21,680		Paychex, Inc	$	845,086
10,470		Quest Diagnostics, Inc		627,362
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		2,858,705
FABRICATED METAL PRODUCTS - 0.22%
7,100		Ball Corp		262,984
26,980		Illinois Tool Works, Inc		1,281,550
3,680		Snap-On, Inc		148,746
		TOTAL FABRICATED METAL PRODUCTS		1,693,280
FOOD AND KINDRED PRODUCTS - 3.24%
49,960		Anheuser-Busch Cos, Inc		2,277,676
42,640		Archer Daniels Midland Co		1,760,179
12,160		Campbell Soup Co		451,258
133,640		Coca-Cola Co		5,749,193
19,890		Coca-Cola Enterprises, Inc		405,159
33,880		ConAgra Foods, Inc		749,087
13,110	*	Constellation Brands, Inc (Class A)		327,750
23,190		General Mills, Inc		1,197,995
21,780		H.J. Heinz Co		897,772
11,500		Hershey Co		633,305
16,120		Kellogg Co		780,692
8,680		McCormick & Co, Inc		291,214
3,890		Molson Coors Brewing Co (Class B)		264,053
8,580		Pepsi Bottling Group, Inc		275,847
107,820		PepsiCo, Inc		6,473,513
5,670		Reynolds American, Inc		653,751
49,390		Sara Lee Corp		791,228
16,500		Tyson Foods, Inc (Class A)		245,190
14,520		Wrigley (Wm.) Jr Co		658,627
		TOTAL FOOD AND KINDRED PRODUCTS		24,883,489
FOOD STORES - 0.26%
47,130		Kroger Co		1,030,262
13,320		Supervalu, Inc		408,924
9,160		Whole Foods Market, Inc		592,102
		TOTAL FOOD STORES		2,031,288
FORESTRY - 0.13%
16,050		Weyerhaeuser Co		999,112
		TOTAL FORESTRY		999,112
FURNITURE AND FIXTURES - 0.28%
12,650		Johnson Controls, Inc		1,040,083
11,980		Leggett & Platt, Inc		299,260
26,960		Masco Corp		799,094
		TOTAL FURNITURE AND FIXTURES		2,138,437
FURNITURE AND HOMEFURNISHINGS STORES - 0.30%
18,410	*	Bed Bath & Beyond, Inc		610,660
26,210		Best Buy Co, Inc		1,437,356
9,810		Circuit City Stores, Inc		267,028
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		2,315,044

159

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
GENERAL BUILDING CONTRACTORS - 0.24%
8,020		Centex Corp	$	403,406
18,050		DR Horton, Inc		429,951
4,910		KB Home		225,124
9,170		Lennar Corp (Class A)		406,873
13,670		Pulte Homes, Inc		393,559
		TOTAL GENERAL BUILDING CONTRACTORS		1,858,913
GENERAL MERCHANDISE STORES - 2.11%
8,020	*	Big Lots, Inc		136,982
30,430		Costco Wholesale Corp		1,738,466
4,060		Dillard's, Inc (Class A)		129,311
20,270		Dollar General Corp		283,375
9,900		Family Dollar Stores, Inc		241,857
36,102		Federated Department Stores, Inc		1,321,333
15,390		JC Penney Co, Inc		1,038,979
56,560		Target Corp		2,764,087
29,410		TJX Cos, Inc		672,313
163,030		Wal-Mart Stores, Inc		7,853,155
		TOTAL GENERAL MERCHANDISE STORES		16,179,858
HEALTH SERVICES - 1.51%
13,580		AmerisourceBergen Corp		569,274
28,660		Caremark Rx, Inc		1,429,274
7,730		Cigna Corp		761,482
10,230	*	Coventry Health Care, Inc		562,036
9,620	*	Express Scripts, Inc		690,139
26,700		HCA, Inc		1,152,105
15,840		Health Management Associates, Inc (Class A)		312,206
8,110	*	Laboratory Corp of America Holdings		504,685
5,380		Manor Care, Inc		252,430
19,890		McKesson Corp		940,399
19,581	*	Medco Health Solutions, Inc		1,121,600
30,450	*	Tenet Healthcare Corp		212,541
42,420	*	WellPoint, Inc		3,086,903
		TOTAL HEALTH SERVICES		11,595,074
HOLDING AND OTHER INVESTMENT OFFICES - 1.69%
6,410		Apartment Investment & Management Co (Class A)		278,515
13,770		Archstone-Smith Trust		700,480
5,950		Boston Properties, Inc		537,880
23,950		Equity Office Properties Trust		874,414
19,070		Equity Residential		853,001
13,580		Kimco Realty Corp		495,534
11,980		Plum Creek Timber Co, Inc		425,290
15,750		Prologis		820,890
5,490		Public Storage, Inc		416,691
11,890		Simon Property Group, Inc		986,157
46,000		SPDR Trust Series 1		5,854,880
7,640		Vornado Realty Trust		745,282
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		12,989,014
HOTELS AND OTHER LODGING PLACES - 0.30%
21,620		Hilton Hotels Corp		611,414

160

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
21,240		Marriott International, Inc (Class A)	$	809,669
14,160		Starwood Hotels & Resorts Worldwide, Inc		854,414
		TOTAL HOTELS AND OTHER LODGING PLACES		2,275,497
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.24%
49,140		3M Co		3,969,038
11,410		American Standard Cos, Inc		493,711
55,420	*	Apple Computer, Inc		3,165,590
102,170		Applied Materials, Inc		1,663,328
5,000		Black & Decker Corp		422,300
43,680		Caterpillar, Inc		3,253,286
3,120		Cummins, Inc		381,420
15,270		Deere & Co		1,274,892
149,400	*	Dell, Inc		3,646,854
13,010		Dover Corp		643,084
9,820		Eaton Corp		740,428
154,370	*	EMC Corp		1,693,439
17,160	*	Gateway, Inc		32,604
181,530		Hewlett-Packard Co		5,750,870
21,210		Ingersoll-Rand Co Ltd		907,364
100,850		International Business Machines Corp		7,747,297
22,090		International Game Technology		838,095
11,730		Jabil Circuit, Inc		300,288
7,070	*	Lexmark International, Inc		394,718
8,300		Pall Corp		232,400
7,730		Parker Hannifin Corp		599,848
11,520		Rockwell Automation, Inc		829,555
12,780	*	SanDisk Corp		651,524
60,420	*	Solectron Corp		206,636
4,530		Stanley Works		213,907
16,500		Symbol Technologies, Inc		178,035
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		40,230,511
INSTRUMENTS AND RELATED PRODUCTS - 3.98%
27,810	*	Agilent Technologies, Inc		877,684
10,010		Allergan, Inc		1,073,673
11,880		Applera Corp (Applied Biosystems Group)		384,318
6,900		Bard (C.R.), Inc		505,494
3,400		Bausch & Lomb, Inc		166,736
42,750		Baxter International, Inc		1,571,490
16,030		Becton Dickinson & Co		979,914
15,870		Biomet, Inc		496,572
79,349	*	Boston Scientific Corp		1,336,237
15,370		Danaher Corp		988,598
18,380		Eastman Kodak Co		437,076
8,220	*	Fisher Scientific International, Inc		600,471
193,050		Johnson & Johnson		11,567,556
12,730		Kla-Tencor Corp		529,186
78,670		Medtronic, Inc		3,691,196
3,600	*	Millipore Corp		226,764
8,860		PerkinElmer, Inc		185,174
13,910		Pitney Bowes, Inc		574,483
23,850	*	St. Jude Medical, Inc		773,217
19,040		Stryker Corp		801,774

161

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
5,500		Tektronix, Inc	$	161,810
13,200	*	Teradyne, Inc		183,876
10,660	*	Thermo Electron Corp		386,318
6,790	*	Waters Corp		301,476
60,330	*	Xerox Corp		839,190
16,120	*	Zimmer Holdings, Inc		914,326
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		30,554,609
INSURANCE AGENTS, BROKERS AND SERVICE - 0.43%
20,550		AON Corp		715,551
19,720		Hartford Financial Services Group, Inc		1,668,312
35,540		Marsh & McLennan Cos, Inc		955,671
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		3,339,534
INSURANCE CARRIERS - 4.98%
21,230		ACE Ltd		1,074,026
36,970		Aetna, Inc		1,476,212
32,550		Aflac, Inc		1,508,693
41,480		Allstate Corp		2,270,200
6,890		Ambac Financial Group, Inc		558,779
169,420		American International Group, Inc		10,004,251
27,040		Chubb Corp		1,349,296
11,145		Cincinnati Financial Corp		523,926
24,040		Genworth Financial, Inc		837,554
10,560	*	Humana, Inc		567,072
18,473		Lincoln National Corp		1,042,616
26,490		Loews Corp		939,071
8,790		MBIA, Inc		514,655
49,430		Metlife, Inc		2,531,310
5,660		MGIC Investment Corp		367,900
18,100		Principal Financial Group		1,007,265
50,620		Progressive Corp		1,301,440
32,060		Prudential Financial, Inc		2,491,062
7,912		Safeco Corp		445,841
45,417		St. Paul Travelers Cos, Inc		2,024,690
6,390		Torchmark Corp		388,001
87,880		UnitedHealth Group, Inc		3,935,266
19,520		UnumProvident Corp		353,898
11,720		XL Capital Ltd (Class A)		718,436
		TOTAL INSURANCE CARRIERS		38,231,460
LEATHER AND LEATHER PRODUCTS - 0.10%
25,110	*	Coach, Inc		750,789
		TOTAL LEATHER AND LEATHER PRODUCTS		750,789
LUMBER AND WOOD PRODUCTS - 0.02%
7,260		Louisiana-Pacific Corp		158,994
		TOTAL LUMBER AND WOOD PRODUCTS		158,994
METAL MINING - 0.43%
12,290		Freeport-McMoRan Copper & Gold, Inc (Class A)		680,989
29,250		Newmont Mining Corp		1,548,203
13,200		Phelps Dodge Corp		1,084,512
		TOTAL METAL MINING		3,313,704

162

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.65%
9,730		Fortune Brands, Inc	$	690,927
11,410		Hasbro, Inc		206,635
25,260		Mattel, Inc		417,043
132,900		Tyco International Ltd		3,654,750
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		4,969,355
MISCELLANEOUS RETAIL - 1.14%
20,149	*	Amazon.com, Inc		779,363
53,390		CVS Corp		1,639,073
18,950	*	Office Depot, Inc		720,100
4,620		OfficeMax, Inc		188,265
6,398	*	Sears Holdings Corp		990,666
47,496		Staples, Inc		1,155,103
9,340		Tiffany & Co		308,407
65,840		Walgreen Co		2,952,266
		TOTAL MISCELLANEOUS RETAIL		8,733,243
MOTION PICTURES - 1.58%
154,480		News Corp (Class A)		2,962,926
280,920		Time Warner, Inc		4,859,916
143,160		Walt Disney Co		4,294,800
		TOTAL MOTION PICTURES		12,117,642
NONDEPOSITORY INSTITUTIONS - 1.98%
80,450		American Express Co		4,281,549
19,720		Capital One Financial Corp		1,685,074
13,030		CIT Group, Inc		681,339
39,640		Countrywide Financial Corp		1,509,491
63,110		Fannie Mae		3,035,591
45,100		Freddie Mac		2,571,151
26,870		SLM Corp		1,421,960
		TOTAL NONDEPOSITORY INSTITUTIONS		15,186,155
NONMETALLIC MINERALS, EXCEPT FUELS - 0.06%
6,410		Vulcan Materials Co		499,980
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		499,980
OIL AND GAS EXTRACTION - 2.83%
29,810		Anadarko Petroleum Corp		1,421,639
21,620		Apache Corp		1,475,565
22,270		Baker Hughes, Inc		1,822,800
21,240		BJ Services Co		791,402
25,320		Chesapeake Energy Corp		765,930
28,770		Devon Energy Corp		1,737,996
33,680		Halliburton Co		2,499,393
20,460	*	Nabors Industries Ltd		691,343
11,410	*	National Oilwell Varco, Inc		722,481
9,070		Noble Corp		674,989
7,070		Rowan Cos, Inc		251,621
76,970		Schlumberger Ltd		5,011,517
21,130	*	Transocean, Inc		1,697,162
22,530	*	Weatherford International Ltd		1,117,939

163

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
23,756		XTO Energy, Inc	$	1,051,678
		TOTAL OIL AND GAS EXTRACTION		21,733,455
PAPER AND ALLIED PRODUCTS - 0.49%
6,700		Bemis Co		205,154
32,190		International Paper Co		1,039,737
29,990		Kimberly-Clark Corp		1,850,383
11,790		MeadWestvaco Corp		329,295
7,170		Temple-Inland, Inc		307,378
		TOTAL PAPER AND ALLIED PRODUCTS		3,731,947
PERSONAL SERVICES - 0.11%
9,170		Cintas Corp		364,599
21,530		H&R Block, Inc		513,706
		TOTAL PERSONAL SERVICES		878,305
PETROLEUM AND COAL PRODUCTS - 6.79%
4,620		Ashland, Inc		308,154
144,585		Chevron Corp		8,972,945
107,629		ConocoPhillips		7,052,928
15,750		EOG Resources, Inc		1,092,105
394,550		Exxon Mobil Corp		24,205,643
15,770		Hess Corp		833,445
14,734		Kerr-McGee Corp		1,021,803
23,763		Marathon Oil Corp		1,979,458
10,750		Murphy Oil Corp		600,495
27,920		Occidental Petroleum Corp		2,863,196
8,580		Sunoco, Inc		594,508
39,970		Valero Energy Corp		2,658,804
		TOTAL PETROLEUM AND COAL PRODUCTS		52,183,484
PRIMARY METAL INDUSTRIES - 0.83%
56,790		Alcoa, Inc		1,837,724
5,870		Allegheny Technologies, Inc		406,439
101,650	*	Corning, Inc		2,458,914
20,290		Nucor Corp		1,100,733
8,270		United States Steel Corp		579,892
		TOTAL PRIMARY METAL INDUSTRIES		6,383,702
PRINTING AND PUBLISHING - 0.49%
3,680		Dow Jones & Co, Inc		128,837
5,470		EW Scripps Co		235,976
15,270		Gannett Co, Inc		854,051
2,221		McClatchy Co (Class A)		89,107
23,660		McGraw-Hill Cos, Inc		1,188,442
2,640		Meredith Corp		130,786
9,340		New York Times Co (Class A)		229,204
13,950		R.R. Donnelley & Sons Co		445,703
14,480		Tribune Co		469,586
		TOTAL PRINTING AND PUBLISHING		3,771,692
RAILROAD TRANSPORTATION - 0.78%
24,130		Burlington Northern Santa Fe Corp		1,912,303
14,450		CSX Corp		1,017,858

164

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
27,080		Norfolk Southern Corp	$	1,441,198
17,260		Union Pacific Corp		1,604,490
		TOTAL RAILROAD TRANSPORTATION		5,975,849
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.12%
4,250		Cooper Tire & Rubber Co		47,345
12,260	*	Goodyear Tire & Rubber Co		136,086
17,720		Newell Rubbermaid, Inc		457,708
5,190		Sealed Air Corp		270,295
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		911,434
SECURITY AND COMMODITY BROKERS - 2.78%
16,030		Ameriprise Financial, Inc		716,060
7,730		Bear Stearns Cos, Inc		1,082,818
66,830		Charles Schwab Corp		1,067,943
27,780	*	E*Trade Financial Corp		633,940
5,380		Federated Investors, Inc (Class B)		169,470
10,010		Franklin Resources, Inc		868,968
28,200		Goldman Sachs Group, Inc		4,242,126
13,670		Janus Capital Group, Inc		244,693
8,620		Legg Mason, Inc		857,862
34,780		Lehman Brothers Holdings, Inc		2,265,917
60,200		Merrill Lynch & Co, Inc		4,187,512
69,890		Morgan Stanley		4,417,747
17,006		T Rowe Price Group, Inc		642,997
		TOTAL SECURITY AND COMMODITY BROKERS		21,398,053
TOBACCO PRODUCTS - 1.36%
136,020		Altria Group, Inc		9,987,949
10,560		UST, Inc		477,206
		TOTAL TOBACCO PRODUCTS		10,465,155
TRANSPORTATION BY AIR - 0.40%
19,920		FedEx Corp		2,327,851
46,250		Southwest Airlines Co		757,113
		TOTAL TRANSPORTATION BY AIR		3,084,964
TRANSPORTATION EQUIPMENT - 2.74%
52,170		Boeing Co		4,273,245
6,040		Brunswick Corp		200,830
123,230		Ford Motor Co		853,984
26,330		General Dynamics Corp		1,723,562
36,900		General Motors Corp		1,099,251
11,130		Genuine Parts Co		463,676
8,320		Goodrich Corp		335,213
17,350		Harley-Davidson, Inc		952,342
11,790		ITT Industries, Inc		583,605
23,190		Lockheed Martin Corp		1,663,651
4,150	*	Navistar International Corp		102,132
22,130		Northrop Grumman Corp		1,417,648
10,744		Paccar, Inc		885,091
9,620	*	Pactiv Corp		238,095
29,070		Raytheon Co		1,295,650
8,490		Textron, Inc		782,608

165

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S & P 500 Index Fund
SHARES		COMPANY		VALUE
65,920		United Technologies Corp	$	4,180,646
		TOTAL TRANSPORTATION EQUIPMENT		21,051,229
TRANSPORTATION SERVICES - 0.02%
8,200		Sabre Holdings Corp		180,400
		TOTAL TRANSPORTATION SERVICES		180,400
TRUCKING AND WAREHOUSING - 0.76%
70,820		United Parcel Service, Inc (Class B)		5,830,611
		TOTAL TRUCKING AND WAREHOUSING		5,830,611
WATER TRANSPORTATION - 0.15%
28,090		Carnival Corp		1,172,477
		TOTAL WATER TRANSPORTATION		1,172,477
WHOLESALE TRADE-DURABLE GOODS - 3.00%
678,110	d	General Electric Co		22,350,506
8,960	*	Patterson Cos, Inc		312,973
4,910		W.W. Grainger, Inc		369,379
		TOTAL WHOLESALE TRADE-DURABLE GOODS		23,032,858
WHOLESALE TRADE-NONDURABLE GOODS - 0.71%
5,570		Brown-Forman Corp (Class B)		397,977
27,150		Cardinal Health, Inc		1,746,560
8,960	*	Dean Foods Co		333,222
12,160		Nike, Inc (Class B)		984,960
29,450		Safeway, Inc		765,700
39,970		Sysco Corp		1,221,483
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		5,449,902
		TOTAL COMMON STOCKS		755,588,622
		(Cost $697,695,310)
PRINCIPAL
SHORT-TERM INVESTMENTS - 1.60%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.60%
$     12,310,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		12,310,000
		TOTAL SHORT-TERM INVESTMENTS		12,310,000
		(Cost $12,306,669)
		TOTAL PORTFOLIO - 99.97%		767,898,622
		(Cost $710,001,979)
		OTHER ASSETS & LIABILITIES, NET - 0.03%		195,666
		NET ASSETS - 100.00%	$	768,094,288
	*	Non-income producing
	d	All or a portion of these securities have been segregated by the custodian to cover margin
		or other requirements on futures contracts.
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

166

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 100.21%
AMUSEMENT AND RECREATION SERVICES - 0.90%
2,523		GTECH Holdings Corp	$	87,750
2,691		Harrah's Entertainment, Inc		191,545
68		International Speedway Corp (Class A)		3,153
1,519	*	Penn National Gaming, Inc		58,907
983		Warner Music Group Corp		28,979
227		Westwood One, Inc		1,703
		TOTAL AMUSEMENT AND RECREATION SERVICES		372,037
APPAREL AND ACCESSORY STORES - 2.05%
1,743		Abercrombie & Fitch Co (Class A)		96,614
2,262		American Eagle Outfitters, Inc		76,998
1,325	*	AnnTaylor Stores Corp		57,479
3,549	*	Chico's FAS, Inc		95,752
1,860		Claire's Stores, Inc		47,449
349		Foot Locker, Inc		8,547
6,760		Limited Brands, Inc		172,988
4,676		Nordstrom, Inc		170,674
2,844		Ross Stores, Inc		79,774
2,502	*	Urban Outfitters, Inc		43,760
		TOTAL APPAREL AND ACCESSORY STORES		850,035
APPAREL AND OTHER TEXTILE PRODUCTS - 0.17%
67	*	Columbia Sportswear Co		3,032
1,207		Polo Ralph Lauren Corp		66,264
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		69,296
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.82%
2,138		Advance Auto Parts		61,788
1,083	*	Autozone, Inc		95,521
2,086	*	Carmax, Inc		73,970
1,513	*	Copart, Inc		37,159
2,243	*	O'Reilly Automotive, Inc		69,959
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		338,397
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.40%
2,491		Fastenal Co		100,362
1,375		Sherwin-Williams Co		65,285
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		165,647
BUSINESS SERVICES - 9.75%
5,360	*	Activision, Inc		60,997
1,718		Acxiom Corp		42,950
929	*	Affiliated Computer Services, Inc (Class A)		47,946
3,032	*	Akamai Technologies, Inc		109,728
1,612	*	Alliance Data Systems Corp		94,818

167

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,578	*	Autodesk, Inc	$	157,758
7,714	*	BEA Systems, Inc		100,976
4,215	*	BMC Software, Inc		100,738
746		Brink's Co		42,082
1,375		CA, Inc		28,256
4,698	*	Cadence Design Systems, Inc		80,571
2,624	*	Ceridian Corp		64,131
1,279	*	Cerner Corp		47,464
1,574	*	Checkfree Corp		78,007
1,720	*	ChoicePoint, Inc		71,844
3,609	*	Citrix Systems, Inc		144,865
700	*	Clear Channel Outdoor Holdings, Inc		14,672
2,784	*	Cognizant Technology Solutions Corp		187,558
1,172	*	DST Systems, Inc		69,734
6,018	*	Electronic Arts, Inc		259,015
5,762		Electronic Data Systems Corp		138,634
5,437	*	Emdeon Corp		67,473
2,182		Equifax, Inc		74,930
400	*	Expedia, Inc		5,988
803	*	F5 Networks, Inc		42,944
825		Factset Research Systems, Inc		39,023
1,045		Fair Isaac Corp		37,944
422		Fidelity National Information Services, Inc		14,939
3,489	*	Fiserv, Inc		158,261
1,031	*	Getty Images, Inc		65,479
2,837		IMS Health, Inc		76,173
8,280	*	Interpublic Group of Cos, Inc		69,138
3,505	*	Intuit, Inc		211,667
2,284	*	Iron Mountain, Inc		85,376
6,028	*	Juniper Networks, Inc		96,388
869	*	Kinetic Concepts, Inc		38,366
1,570	*	Lamar Advertising Co		84,560
1,489		Manpower, Inc		96,189
1,219	*	Mastercard, Inc		58,512
2,924	*	McAfee, Inc		70,965
1,677		MoneyGram International, Inc		56,934
2,458	*	Monster Worldwide, Inc		104,858
1,841	*	NAVTEQ Corp		82,256
760	*	NCR Corp		27,846
3,644	*	Red Hat, Inc		85,270
956		Reynolds & Reynolds Co (Class A)		29,321
2,981		Robert Half International, Inc		125,202
1,615	*	Salesforce.com, Inc		43,056
1,738		ServiceMaster Co		17,954
257	*	Synopsys, Inc		4,824
840		Total System Services, Inc		16,170
4,605	*	VeriSign, Inc		106,698
140	*	WebMD Health Corp		6,622
		TOTAL BUSINESS SERVICES		4,044,070
CHEMICALS AND ALLIED PRODUCTS - 5.61%
620	*	Abraxis BioScience, Inc		14,781
520		Air Products & Chemicals, Inc		33,238
333		Alberto-Culver Co		16,224

168

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,868		Avery Dennison Corp	$	108,456
8,922		Avon Products, Inc		276,582
2,104	*	Barr Pharmaceuticals, Inc		100,340
518		Cabot Corp		17,881
810		Celanese Corp (Series A)		16,540
1,204	*	Cephalon, Inc		72,360
428	*	Charles River Laboratories International, Inc		15,750
1,285		Church & Dwight Co, Inc		46,800
1,727		Dade Behring Holdings, Inc		71,912
3,608		Ecolab, Inc		146,413
2,466		Estee Lauder Cos (Class A)		95,360
6,457	*	Forest Laboratories, Inc		249,821
3,095	*	Hospira, Inc		132,899
1,267	*	Huntsman Corp		21,944
626	*	Idexx Laboratories, Inc		47,031
1,377	*	ImClone Systems, Inc		53,207
1,253		International Flavors & Fragrances, Inc		44,156
382	*	Invitrogen Corp		25,239
399	*	Kos Pharmaceuticals, Inc		15,010
4,930	*	Medimmune, Inc		133,603
3,470	*	Millennium Pharmaceuticals, Inc		34,596
4,148		Mylan Laboratories, Inc		82,960
1,905	*	Nalco Holding Co		33,585
2,269	*	PDL BioPharma, Inc		41,772
417		PPG Industries, Inc		27,522
474		Rohm & Haas Co		23,757
697		Scotts Miracle-Gro Co (Class A)		29,497
2,155	*	Sepracor, Inc		123,137
570		Sigma-Aldrich Corp		41,405
1,647	*	VCA Antech, Inc		52,589
2,183	*	Vertex Pharmaceuticals, Inc		80,138
		TOTAL CHEMICALS AND ALLIED PRODUCTS		2,326,505
COAL MINING - 0.94%
2,834		Arch Coal, Inc		120,076
3,630		Consol Energy, Inc		169,594
903		Foundation Coal Holdings, Inc		42,378
1,632		Massey Energy Co		58,752
		TOTAL COAL MINING		390,800
COMMUNICATIONS - 3.77%
8,315	*	American Tower Corp (Class A)		258,763
725	*	Avaya, Inc		8,279
2,160		Cablevision Systems Corp (Class A)		46,332
2,648		Citizens Communications Co		34,556
3,790	*	Crown Castle International Corp		130,907
4,077	*	EchoStar Communications Corp (Class A)		125,612
1,341		Global Payments, Inc		65,106
1,402	*	IAC/InterActiveCorp		37,139
338	*	Leap Wireless International, Inc		16,038
16,783	*	Level 3 Communications, Inc		74,517
3,306	*	Liberty Global, Inc		71,079
10,659	*	Liberty Media Holding Corp (Interactive)		183,974
1,236	*	NeuStar, Inc		41,715

169

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,792	*	NII Holdings, Inc (Class B)	$	157,413
2,039	*	SBA Communications Corp		53,299
1,162		Telephone & Data Systems, Inc		48,107
2,917	*	Univision Communications, Inc (Class A)		97,720
182	*	US Cellular Corp		11,029
593	*	West Corp		28,411
5,120	*	XM Satellite Radio Holdings, Inc		75,008
		TOTAL COMMUNICATIONS		1,565,004
DEPOSITORY INSTITUTIONS - 1.77%
653		Bank of Hawaii Corp		32,389
3,640		Commerce Bancorp, Inc		129,839
449		Cullen/Frost Bankers, Inc		25,728
1,113		East West Bancorp, Inc		42,194
5,758		Hudson City Bancorp, Inc		76,754
282		IndyMac Bancorp, Inc		12,930
1,303		Investors Financial Services Corp		58,504
4,083		Northern Trust Corp		225,790
1,174		People's Bank		38,566
2,382		Synovus Financial Corp		63,790
994		TCF Financial Corp		26,291
		TOTAL DEPOSITORY INSTITUTIONS		732,775
EATING AND DRINKING PLACES - 1.60%
2,343		Aramark Corp (Class B)		77,577
1,680		Brinker International, Inc		60,984
2,937		Darden Restaurants, Inc		115,718
700		OSI Restaurant Partners, Inc		24,220
1,568	*	The Cheesecake Factory, Inc		42,258
655	*	Tim Hortons, Inc		16,866
943		Wendy's International, Inc		54,967
5,379		Yum! Brands, Inc		270,402
		TOTAL EATING AND DRINKING PLACES		662,992
EDUCATIONAL SERVICES - 0.70%
2,760	*	Apollo Group, Inc (Class A)		142,609
1,936	*	Career Education Corp		57,867
868	*	ITT Educational Services, Inc		57,123
731	*	Laureate Education, Inc		31,163
		TOTAL EDUCATIONAL SERVICES		288,762
ELECTRIC, GAS, AND SANITARY SERVICES - 3.52%
13,048	*	AES Corp		240,736
3,236	*	Allegheny Energy, Inc		119,958
285	*	Allied Waste Industries, Inc		3,238
1,542		Aqua America, Inc		35,142
450		Constellation Energy Group, Inc		24,534
2,257	*	Covanta Holding Corp		39,836
429		DPL, Inc		11,497
12,229		El Paso Corp		183,435
2,111		Kinder Morgan, Inc		210,868
812	*	NRG Energy, Inc		39,122
1,502		Questar Corp		120,896
2,223		Republic Services, Inc		89,676

170

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
883	*	Stericycle, Inc	$	57,483
1,255		Western Gas Resources, Inc		75,112
8,963		Williams Cos, Inc		209,376
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		1,460,909
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 9.22%
2,058	*	ADC Telecommunications, Inc		34,698
3,368	*	Agere Systems, Inc		49,510
7,129	*	Altera Corp		125,114
1,327		American Power Conversion Corp		25,863
1,420		Ametek, Inc		67,280
1,784		Amphenol Corp (Class A)		99,833
7,172		Analog Devices, Inc		230,508
1,054	*	Avnet, Inc		21,101
200		AVX Corp		3,158
2,563	*	Ciena Corp		12,328
3,226	*	Comverse Technology, Inc		63,778
1,302	*	Cree, Inc		30,935
2,472	*	Cypress Semiconductor Corp		35,943
600	*	Dolby Laboratories, Inc (Class A)		13,980
983	*	Energizer Holdings, Inc		57,574
1,238	*	Fairchild Semiconductor International, Inc		22,494
3,699	*	Freescale Semiconductor, Inc (Class B)		108,751
1,326		Harman International Industries, Inc		113,201
2,660		Harris Corp		110,417
1,754	*	Integrated Device Technology, Inc		24,872
785	*	International Rectifier Corp		30,678
1,238		Intersil Corp (Class A)		28,783
32,351	*	JDS Uniphase Corp		81,848
178		L-3 Communications Holdings, Inc		13,425
840		Lincoln Electric Holdings, Inc		52,626
6,036		Linear Technology Corp		202,146
5,659	*	LSI Logic Corp		50,648
47,760	*	Lucent Technologies, Inc		115,579
6,361		Maxim Integrated Products, Inc		204,252
2,754	*	MEMC Electronic Materials, Inc		103,275
4,266		Microchip Technology, Inc		143,124
6,571	*	Micron Technology, Inc		98,959
2,721		Molex, Inc		91,344
6,701		National Semiconductor Corp		159,819
7,415	*	Network Appliance, Inc		261,749
1,012	*	Novellus Systems, Inc		24,996
6,986	*	Nvidia Corp		148,732
4,093	*	PMC - Sierra, Inc		38,474
3,200	*	QLogic Corp		55,168
2,049		RadioShack Corp		28,686
1,564	*	Rambus, Inc		35,675
3,397		Rockwell Collins, Inc		189,790
4,257	*	Sanmina-SCI Corp		19,582
991	*	Silicon Laboratories, Inc		34,834
27,822	*	Sirius Satellite Radio, Inc		132,154
1,237	*	Thomas & Betts Corp		63,458
722	*	Vishay Intertechnology, Inc		11,357
6,818		Xilinx, Inc		154,428
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		3,826,927

171

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
ENGINEERING AND MANAGEMENT SERVICES - 3.23%
2,115	*	Amylin Pharmaceuticals, Inc	$	104,418
6,884	*	Celgene Corp		326,508
797		Corporate Executive Board Co		79,859
1,738		Fluor Corp		161,512
1,023	*	Gen-Probe, Inc		55,222
101	*	Hewitt Associates, Inc		2,270
1,161	*	Jacobs Engineering Group, Inc		92,462
6,668		Paychex, Inc		259,919
2,002		Pharmaceutical Product Development, Inc		70,310
3,137		Quest Diagnostics, Inc		187,969
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,340,449
FABRICATED METAL PRODUCTS - 0.43%
251	*	Alliant Techsystems, Inc		19,164
2,074		Ball Corp		76,821
3,347	*	Crown Holdings, Inc		52,113
767		Pentair, Inc		26,223
145		Snap-On, Inc		5,861
		TOTAL FABRICATED METAL PRODUCTS		180,182
FOOD AND KINDRED PRODUCTS - 2.31%
493	*	Burger King Holdings, Inc		7,765
2,606		Campbell Soup Co		96,708
705	*	Constellation Brands, Inc (Class A)		17,625
3,777		H.J. Heinz Co		155,688
302	*	Hansen Natural Corp		57,492
3,073		Hershey Co		169,230
2,051		McCormick & Co, Inc		68,811
1,407		Pepsi Bottling Group, Inc		45,235
7,922		Sara Lee Corp		126,910
4,652		Wrigley (Wm.) Jr Co		211,015
		TOTAL FOOD AND KINDRED PRODUCTS		956,479
FOOD STORES - 0.63%
1,788		Kroger Co		39,086
605	*	Panera Bread Co (Class A)		40,680
2,778		Whole Foods Market, Inc		179,570
		TOTAL FOOD STORES		259,336
FORESTRY - 0.01%
138		Rayonier, Inc		5,232
		TOTAL FORESTRY		5,232
FURNITURE AND FIXTURES - 0.63%
1,031		HNI Corp		46,756
446		Hillenbrand Industries, Inc		21,631
1,991		Leggett & Platt, Inc		49,735
4,770		Masco Corp		141,383
		TOTAL FURNITURE AND FIXTURES		259,505

172

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
FURNITURE AND HOMEFURNISHINGS STORES - 1.01%
5,592	*	Bed Bath & Beyond, Inc	$	185,487
3,211		Circuit City Stores, Inc		87,403
1,300	*	GameStop Corp		54,600
124	*	Mohawk Industries, Inc		8,723
1,188		Steelcase, Inc (Class A)		19,543
1,906		Williams-Sonoma, Inc		64,899
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		420,655
GENERAL BUILDING CONTRACTORS - 1.08%
390		Beazer Homes USA, Inc		17,889
1,095		Centex Corp		55,078
3,336		DR Horton, Inc		79,464
828		KB Home		37,964
1,092		Lennar Corp (Class A)		48,452
305		MDC Holdings, Inc		15,838
92	*	NVR, Inc		45,195
2,091		Pulte Homes, Inc		60,200
328		Ryland Group, Inc		14,291
501		Standard-Pacific Corp		12,876
496	*	Toll Brothers, Inc		12,683
862		Walter Industries, Inc		49,694
		TOTAL GENERAL BUILDING CONTRACTORS		449,624
GENERAL MERCHANDISE STORES - 1.55%
5,836		Dollar General Corp		81,587
1,646		Family Dollar Stores, Inc		40,212
4,644		JC Penney Co, Inc		313,516
9,075		TJX Cos, Inc		207,455
		TOTAL GENERAL MERCHANDISE STORES		642,770
HEALTH SERVICES - 2.76%
797		AmerisourceBergen Corp		33,410
241		Brookdale Senior Living, Inc		10,782
1,190	*	Community Health Systems, Inc		43,733
953	*	Covance, Inc		58,343
3,180	*	Coventry Health Care, Inc		174,709
2,047	*	DaVita, Inc		101,736
1,171	*	Edwards Lifesciences Corp		53,199
2,439	*	Express Scripts, Inc		174,974
1,226		Health Management Associates, Inc (Class A)		24,164
2,471	*	Laboratory Corp of America Holdings		153,770
401	*	LifePoint Hospitals, Inc		12,884
1,895	*	Lincare Holdings, Inc		71,707
1,566		Manor Care, Inc		73,477
961	*	Pediatrix Medical Group, Inc		43,533
1,109	*	Sierra Health Services, Inc		49,938
6,352	*	Tenet Healthcare Corp		44,337
289	*	Triad Hospitals, Inc		11,439
211		Universal Health Services, Inc (Class B)		10,605
		TOTAL HEALTH SERVICES		1,146,740
HOLDING AND OTHER INVESTMENT OFFICES - 4.49%
623	*	Affiliated Managers Group, Inc		54,132
920		Developers Diversified Realty Corp		48,006

173

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
205		Essex Property Trust, Inc	$	22,890
494		Federal Realty Investment Trust		34,580
1,782		General Growth Properties, Inc		80,297
307		Global Signal, Inc		14,220
11,305		iShares Russell Midcap Growth Index Fund		1,084,376
635		Kilroy Realty Corp		45,879
110		KKR Financial Corp		2,289
1,423		Macerich Co		99,895
167		Pan Pacific Retail Properties, Inc		11,585
767		Public Storage, Inc		58,215
937		Shurgard Storage Centers, Inc (Class A)		58,562
856		SL Green Realty Corp		93,706
563		Taubman Centers, Inc		23,027
2,661		United Dominion Realty Trust, Inc		74,535
1,256		Ventas, Inc		42,553
393		Weingarten Realty Investors		15,044
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		1,863,791
HOTELS AND OTHER LODGING PLACES - 1.79%
866		Boyd Gaming Corp		34,952
678		Choice Hotels International, Inc		41,087
7,621		Hilton Hotels Corp		215,522
2,371	*	MGM Mirage		96,737
3,580		Starwood Hotels & Resorts Worldwide, Inc		216,017
1,003		Station Casinos, Inc		68,284
974	*	Wynn Resorts Ltd		71,394
		TOTAL HOTELS AND OTHER LODGING PLACES		743,993
INDUSTRIAL MACHINERY AND EQUIPMENT - 7.85%
3,533		American Standard Cos, Inc		152,873
1,384		Black & Decker Corp		116,893
2,288	*	Cameron International Corp		109,298
521		Carlisle Cos, Inc		41,315
1,164		CDW Corp		63,612
751		Cummins, Inc		91,810
1,080		Diebold, Inc		43,870
1,479		Donaldson Co, Inc		50,094
3,616		Dover Corp		178,739
520	*	Dresser-Rand Group, Inc		12,210
169	*	Flowserve Corp		9,616
1,363	*	FMC Technologies, Inc		91,948
1,037	*	Gardner Denver, Inc		39,925
1,364		Graco, Inc		62,717
2,598	*	Grant Prideco, Inc		116,260
1,058		IDEX Corp		49,938
6,719		International Game Technology		254,919
3,672		Jabil Circuit, Inc		94,003
2,452		Joy Global, Inc		127,725
2,791	*	Lam Research Corp		130,116
1,593	*	Lexmark International, Inc		88,937
1,213		Manitowoc Co, Inc		53,978
443		Pall Corp		12,404
1,024		Parker Hannifin Corp		79,462
3,527		Rockwell Automation, Inc		253,979

174

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,871	*	SanDisk Corp	$	197,343
1,362	*	Scientific Games Corp (Class A)		48,514
4,252		Smith International, Inc		189,086
8,157	*	Solectron Corp		27,897
1,136		Stanley Works		53,642
4,040		Symbol Technologies, Inc		43,592
471	*	Terex Corp		46,488
134		Timken Co		4,490
847		Toro Co		39,555
2,603	*	Varian Medical Systems, Inc		123,252
770	*	VeriFone Holdings, Inc		23,470
4,373	*	Western Digital Corp		86,629
1,407	*	Zebra Technologies Corp (Class A)		48,063
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		3,258,662
INSTRUMENTS AND RELATED PRODUCTS - 5.57%
1,367	*	Advanced Medical Optics, Inc		69,307
2,962		Allergan, Inc		317,704
2,942		Applera Corp (Applied Biosystems Group)		95,174
2,052		Bard (C.R.), Inc		150,329
173		Bausch & Lomb, Inc		8,484
1,150		Beckman Coulter, Inc		63,882
4,876		Biomet, Inc		152,570
443		Cooper Cos, Inc		19,620
1,568		Dentsply International, Inc		95,021
237		DRS Technologies, Inc		11,554
1,414	*	Fisher Scientific International, Inc		103,293
724	*	Intuitive Surgical, Inc		85,410
3,120		Kla-Tencor Corp		129,698
747	*	Mettler-Toledo International, Inc		45,246
1,053	*	Millipore Corp		66,328
1,260		National Instruments Corp		34,524
1,480		PerkinElmer, Inc		30,932
2,590		Pitney Bowes, Inc		106,967
1,494	*	Resmed, Inc		70,143
1,440	*	Respironics, Inc		49,277
1,640		Roper Industries, Inc		76,670
7,150	*	St. Jude Medical, Inc		231,803
780	*	Techne Corp		39,718
1,183		Tektronix, Inc		34,804
3,059	*	Teradyne, Inc		42,612
978	*	Thermo Electron Corp		35,443
1,187	*	Trimble Navigation Ltd		52,988
2,053	*	Waters Corp		91,153
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		2,310,654
INSURANCE AGENTS, BROKERS AND SERVICE - 0.19%
2,226		Brown & Brown, Inc		65,044
581		Gallagher (Arthur J.) & Co		14,722
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		79,766
INSURANCE CARRIERS - 1.16%
178		Ambac Financial Group, Inc		14,436
364		Hanover Insurance Group, Inc		17,275

175

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,234		HCC Insurance Holdings, Inc	$	36,329
2,103	*	Health Net, Inc		94,993
3,262	*	Humana, Inc		175,169
35	*	Markel Corp		12,145
991	*	Philadelphia Consolidated Holding Co		30,087
188		Transatlantic Holdings, Inc		10,509
1,718		W.R. Berkley Corp		58,635
646	*	WellCare Health Plans, Inc		31,686
		TOTAL INSURANCE CARRIERS		481,264
JUSTICE, PUBLIC ORDER AND SAFETY - 0.07%
524	*	Corrections Corp of America		27,741
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		27,741
LEATHER AND LEATHER PRODUCTS - 0.55%
7,628	*	Coach, Inc		228,077
		TOTAL LEATHER AND LEATHER PRODUCTS		228,077
METAL MINING - 0.30%
2,014		Freeport-McMoRan Copper & Gold, Inc (Class A)		111,596
136		Southern Copper Corp		12,121
		TOTAL METAL MINING		123,717
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.17%
996		Fortune Brands, Inc		70,726
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		70,726
MISCELLANEOUS RETAIL - 2.04%
6,185	*	Amazon.com, Inc		239,236
297		Barnes & Noble, Inc		10,840
1,179	*	Coldwater Creek, Inc		31,550
752	*	Dick's Sporting Goods, Inc		29,779
221	*	Dollar Tree Stores, Inc		5,856
2,617		Michaels Stores, Inc		107,925
749		MSC Industrial Direct Co (Class A)		35,630
636	*	Nutri/System, Inc		39,515
5,701	*	Office Depot, Inc		216,638
2,776		Petsmart, Inc		71,066
1,706		Tiffany & Co		56,332
		TOTAL MISCELLANEOUS RETAIL		844,367
MOTION PICTURES - 0.14%
1,565	*	Discovery Holding Co (Class A)		22,896
515	*	DreamWorks Animation SKG, Inc (Class A)		11,794
1,250		Regal Entertainment Group (Class A)		25,400
		TOTAL MOTION PICTURES		60,090
NONDEPOSITORY INSTITUTIONS - 0.23%
618	*	AmeriCredit Corp		17,255
1,207		CapitalSource, Inc		28,316
601		First Marblehead Corp		34,221
381	*	Nelnet, Inc		15,449
		TOTAL NONDEPOSITORY INSTITUTIONS		95,241

176

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
NONMETALLIC MINERALS, EXCEPT FUELS - 0.49%
956		Florida Rock Industries, Inc	$	47,485
1,994		Vulcan Materials Co		155,532
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		203,017
OIL AND GAS EXTRACTION - 4.61%
6,379		BJ Services Co		237,682
1,086	*	Cheniere Energy, Inc		42,354
552	*	CNX Gas Corp		16,560
2,360	*	Denbury Resources, Inc		74,741
1,173		Diamond Offshore Drilling, Inc		98,450
3,047		ENSCO International, Inc		140,223
2,074		Equitable Resources, Inc		69,479
1,749	*	Global Industries Ltd		29,208
1,555	*	Helix Energy Solutions Group, Inc		62,760
1,041		Helmerich & Payne, Inc		62,731
3,238	*	National Oilwell Varco, Inc		205,030
1,065	*	Oceaneering International, Inc		48,830
3,399		Patterson-UTI Energy, Inc		96,226
1,560	*	Plains Exploration & Production Co		63,242
2,609	*	Pride International, Inc		81,479
1,280	*	Quicksilver Resources, Inc		47,117
2,602		Range Resources Corp		70,748
2,033		Rowan Cos, Inc		72,354
3,323	*	Southwestern Energy Co		103,545
1,130		St. Mary Land & Exploration Co		45,483
1,581	*	Superior Energy Services		53,596
1,415	*	Tetra Technologies, Inc		42,860
693		Tidewater, Inc		34,096
1,225		Todco		50,041
918	*	Unit Corp		52,225
348		W&T Offshore, Inc		13,534
		TOTAL OIL AND GAS EXTRACTION		1,914,594
PAPER AND ALLIED PRODUCTS - 0.09%
1,609		Packaging Corp of America		35,430
		TOTAL PAPER AND ALLIED PRODUCTS		35,430
PERSONAL SERVICES - 0.73%
2,780		Cintas Corp		110,533
6,508		H&R Block, Inc		155,281
908		Weight Watchers International, Inc		37,128
		TOTAL PERSONAL SERVICES		302,942
PETROLEUM AND COAL PRODUCTS - 0.38%
604		Frontier Oil Corp		19,570
952		Holly Corp		45,886
1,319		Sunoco, Inc		91,394
		TOTAL PETROLEUM AND COAL PRODUCTS		156,850
PRIMARY METAL INDUSTRIES - 1.01%
1,989		Allegheny Technologies, Inc		137,718
471		Carpenter Technology Corp		54,401
340		Hubbell, Inc (Class B)		16,201

177

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,677		Precision Castparts Corp	$	159,978
1,472	*	Titanium Metals Corp		50,607
		TOTAL PRIMARY METAL INDUSTRIES		418,905
PRINTING AND PUBLISHING - 0.76%
1,188		Dow Jones & Co, Inc		41,592
1,320	*	Dun & Bradstreet Corp		91,977
1,662		EW Scripps Co		71,699
1,220		Harte-Hanks, Inc		31,281
876		John Wiley & Sons, Inc (Class A)		29,083
616		Meredith Corp		30,517
22		Washington Post Co (Class B)		17,160
		TOTAL PRINTING AND PUBLISHING		313,309
RAILROAD TRANSPORTATION - 0.40%
2,147		CSX Corp		151,235
540	*	Kansas City Southern Industries, Inc		14,958
		TOTAL RAILROAD TRANSPORTATION		166,193
REAL ESTATE - 0.71%
3,667	*	CB Richard Ellis Group, Inc		91,308
1,480		Forest City Enterprises, Inc (Class A)		73,867
709		Jones Lang LaSalle, Inc		62,073
1,483		St. Joe Co		69,019
		TOTAL REAL ESTATE		296,267
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.42%
3,511	*	Goodyear Tire & Rubber Co		38,972
474	*	Jarden Corp		14,433
3,373		Newell Rubbermaid, Inc		87,125
643		Sealed Air Corp		33,487
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		174,017
SECURITY AND COMMODITY BROKERS - 3.13%
395		BlackRock, Inc		54,972
1,047	*	Cbot Holdings, Inc		125,211
7,808	*	E*Trade Financial Corp		178,178
2,301		Eaton Vance Corp		57,433
1,720		Federated Investors, Inc (Class B)		54,180
404	*	IntercontinentalExchange, Inc		23,408
858	*	Investment Technology Group, Inc		43,638
2,114		Janus Capital Group, Inc		37,841
1,419		Legg Mason, Inc		141,219
1,872	*	Nasdaq Stock Market, Inc		55,973
1,570		Nuveen Investments, Inc		67,588
1,569	*	NYSE Group, Inc		107,445
1,249		SEI Investments Co		61,051
5,276		T Rowe Price Group, Inc		199,485
6,175		TD Ameritrade Holding Corp		91,452
		TOTAL SECURITY AND COMMODITY BROKERS		1,299,074
SPECIAL TRADE CONTRACTORS - 0.04%
981	*	Quanta Services, Inc		17,001
		TOTAL SPECIAL TRADE CONTRACTORS		17,001

178

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
STONE, CLAY, AND GLASS PRODUCTS - 0.39%
997		Eagle Materials, Inc	$	47,358
2,765		Gentex Corp		38,710
3,038	*	Owens-Illinois, Inc		50,917
345	b*	USG Corp		25,161
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		162,146
TOBACCO PRODUCTS - 0.19%
1,778		UST, Inc		80,348
		TOTAL TOBACCO PRODUCTS		80,348
TRANSPORTATION BY AIR - 0.83%
3,187	*	AMR Corp		81,014
1,736	*	Continental Airlines, Inc (Class B)		51,733
9,216		Southwest Airlines Co		150,866
1,205	*	US Airways Group, Inc		60,901
		TOTAL TRANSPORTATION BY AIR		344,514
TRANSPORTATION EQUIPMENT - 3.19%
352		Brunswick Corp		11,704
2,288		Goodrich Corp		92,184
5,319		Harley-Davidson, Inc		291,960
823		Harsco Corp		64,161
2,461		ITT Industries, Inc		121,820
2,108		JLG Industries, Inc		47,430
870		Martin Marietta Materials, Inc		79,301
1,461		Oshkosh Truck Corp		69,427
1,946		Paccar, Inc		160,311
2,796	*	Pactiv Corp		69,201
2,408		Textron, Inc		221,969
706		Thor Industries, Inc		34,206
1,475		Trinity Industries, Inc		59,590
		TOTAL TRANSPORTATION EQUIPMENT		1,323,264
TRANSPORTATION SERVICES - 1.06%
3,448		CH Robinson Worldwide, Inc		183,778
4,234		Expeditors International Washington, Inc		237,146
469		GATX Corp		19,933
		TOTAL TRANSPORTATION SERVICES		440,857
TRUCKING AND WAREHOUSING - 0.44%
1,031		Con-way, Inc		59,726
2,178		J.B. Hunt Transport Services, Inc		54,254
1,174		Landstar System, Inc		55,448
456	*	Swift Transportation Co, Inc		14,483
		TOTAL TRUCKING AND WAREHOUSING		183,911
WATER TRANSPORTATION - 0.10%
1,044	*	Kirby Corp		41,238
		TOTAL WATER TRANSPORTATION		41,238
WHOLESALE TRADE-DURABLE GOODS - 1.01%
336	*	Arrow Electronics, Inc		10,819

179

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
89		BorgWarner, Inc	$	5,794
2,266	*	Cytyc Corp		57,466
1,161		Omnicare, Inc		55,055
2,747	*	Patterson Cos, Inc		95,953
1,049		Pool Corp		45,768
1,087		W.W. Grainger, Inc		81,775
958	*	WESCO International, Inc		66,102
		TOTAL WHOLESALE TRADE-DURABLE GOODS		418,732
WHOLESALE TRADE-NONDURABLE GOODS - 0.82%
1,256		Airgas, Inc		46,786
1,219		Brown-Forman Corp (Class B)		87,098
2,627	*	Endo Pharmaceuticals Holdings, Inc		86,638
1,751	*	Henry Schein, Inc		81,824
712	*	Tractor Supply Co		39,352
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		341,698
		TOTAL COMMON STOCKS		41,577,524
		(Cost $34,452,122)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.24%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.24%
$     100,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		100,000
		TOTAL SHORT-TERM INVESTMENTS		100,000
		(Cost $99,973)
		TOTAL PORTFOLIO - 100.45%		41,677,524
		(Cost $34,552,095)
		OTHER ASSETS & LIABILITIES, NET - (0.45%)		(185,662	)
		NET ASSETS - 100.00%	$	41,491,862
	*	Non-income producing
	b	In bankruptcy
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

180

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP VALUE INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 99.97%
AMUSEMENT AND RECREATION SERVICES - 0.35%
1,706		Harrah's Entertainment, Inc	$	121,433
1,236		International Speedway Corp (Class A)		57,313
1,483		Warner Music Group Corp		43,719
		TOTAL AMUSEMENT AND RECREATION SERVICES		222,465
APPAREL AND ACCESSORY STORES - 0.21%
205	*	AnnTaylor Stores Corp		8,893
200		Claire's Stores, Inc		5,102
4,837		Foot Locker, Inc		118,458
		TOTAL APPAREL AND ACCESSORY STORES		132,453
APPAREL AND OTHER TEXTILE PRODUCTS - 0.74%
3,948		Jones Apparel Group, Inc		125,507
3,664		Liz Claiborne, Inc		135,788
3,080		VF Corp		209,194
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		470,489
AUTO REPAIR, SERVICES AND PARKING - 0.20%
2,140		Ryder System, Inc		125,040
		TOTAL AUTO REPAIR, SERVICES AND PARKING		125,040
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.24%
5,518	*	Autonation, Inc		118,306
1,706		United Auto Group, Inc		36,423
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		154,729
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.12%
1,549		Sherwin-Williams Co		73,546
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		73,546
BUSINESS SERVICES - 3.52%
2,309	*	Affiliated Computer Services, Inc (Class A)		119,167
452		Brink's Co		25,497
13,484		CA, Inc		277,096
1,605	*	Cadence Design Systems, Inc		27,526
551	*	Ceridian Corp		13,466
300	*	Clear Channel Outdoor Holdings, Inc		6,288
6,541	*	Computer Sciences Corp		316,846
13,428	*	Compuware Corp		89,968
4,553	*	Convergys Corp		88,783
7,983		Electronic Data Systems Corp		192,071
511		Equifax, Inc		17,548
7,336	*	Expedia, Inc		109,820
511		Fair Isaac Corp		18,554
2,599		Fidelity National Information Services, Inc		92,005

181

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,997		IMS Health, Inc	$	53,619
9,166	*	Juniper Networks, Inc		146,564
445		Manpower, Inc		28,747
419	*	McAfee, Inc		10,169
5,042	*	NCR Corp		184,739
11,877	*	Novell, Inc		78,744
563		Reynolds & Reynolds Co (Class A)		17,267
7,115		ServiceMaster Co		73,498
4,590	*	Synopsys, Inc		86,154
400	*	Take-Two Interactive Software, Inc		4,264
12,032	*	Unisys Corp		75,561
2,268	*	United Rentals, Inc		72,531
532	*	VeriSign, Inc		12,326
		TOTAL BUSINESS SERVICES		2,238,818
CHEMICALS AND ALLIED PRODUCTS - 4.85%
6,942		Air Products & Chemicals, Inc		443,733
1,377		Albemarle Corp		65,931
2,150		Alberto-Culver Co		104,748
1,346		Cabot Corp		46,464
1,600		Celanese Corp (Series A)		32,672
1,771	*	Charles River Laboratories International, Inc		65,173
8,425		Chemtura Corp		78,689
5,291		Clorox Co		322,592
1,318		Cytec Industries, Inc		70,724
2,868		Eastman Chemical Co		154,872
1,371		FMC Corp		88,279
954	*	Huntsman Corp		16,523
1,023		International Flavors & Fragrances, Inc		36,051
1,191	*	Invitrogen Corp		78,689
8,494	*	King Pharmaceuticals, Inc		144,398
2,397		Lubrizol Corp		95,520
7,604		Lyondell Chemical Co		172,307
5,040	*	Millennium Pharmaceuticals, Inc		50,249
4,248	*	Mosaic Co		66,481
5,095		PPG Industries, Inc		336,270
4,733		Rohm & Haas Co		237,218
4,158		RPM International, Inc		74,844
434		Scotts Miracle-Gro Co (Class A)		18,367
1,365		Sigma-Aldrich Corp		99,154
41		Tronox, Inc		540
3,565		Valspar Corp		94,152
3,297	*	Watson Pharmaceuticals, Inc		76,754
476		Westlake Chemical Corp		14,185
		TOTAL CHEMICALS AND ALLIED PRODUCTS		3,085,579
COMMUNICATIONS - 3.64%
14,911	*	Avaya, Inc		170,284
3,772		Cablevision Systems Corp (Class A)		80,909
4,073		CenturyTel, Inc		151,312
6,726		Citizens Communications Co		87,774
829	*	Crown Castle International Corp		28,634
5,224	*	Embarq Corp		214,132
900		Hearst-Argyle Television, Inc		19,854

182

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,995	*	IAC/InterActiveCorp	$	105,828
925	*	Leap Wireless International, Inc		43,891
10,283	*	Liberty Global, Inc		221,085
4,926	*	Liberty Media Holding Corp (Capital)		412,651
5,763	*	Liberty Media Holding Corp (Interactive)		99,469
2,401		PanAmSat Holding Corp		59,977
55,422	*	Qwest Communications International, Inc		448,364
1,774		Telephone & Data Systems, Inc		73,444
2,420	*	Univision Communications, Inc (Class A)		81,070
300	*	US Cellular Corp		18,180
		TOTAL COMMUNICATIONS		2,316,858
DEPOSITORY INSTITUTIONS - 9.82%
12,137		AmSouth Bancorp		321,024
4,638		Associated Banc-Corp		146,236
3,202		Astoria Financial Corp		97,501
2,782		Bancorpsouth, Inc		75,809
715		Bank of Hawaii Corp		35,464
680		BOK Financial Corp		33,776
700		Capitol Federal Financial		24,003
1,462		City National Corp		95,162
5,422		Colonial Bancgroup, Inc		139,237
5,697		Comerica, Inc		296,187
2,342		Commerce Bancshares, Inc		117,217
4,528		Compass Bancshares, Inc		251,757
1,215		Cullen/Frost Bankers, Inc		69,619
211		First Citizens Bancshares, Inc (Class A)		42,305
4,322		First Horizon National Corp		173,744
6,086		Fulton Financial Corp		96,889
10,206		Hudson City Bancorp, Inc		136,046
8,603		Huntington Bancshares, Inc		202,859
1,800		IndyMac Bancorp, Inc		82,530
14,175		Keycorp		505,764
2,666		M&T Bank Corp		314,375
8,878		Marshall & Ilsley Corp		406,080
4,321		Mercantile Bankshares Corp		154,130
10,341		New York Community Bancorp, Inc		170,730
16,313		North Fork Bancorporation, Inc		492,163
474		Northern Trust Corp		26,212
9,762		Popular, Inc		187,430
3,534		Sky Financial Group, Inc		83,438
2,629		South Financial Group, Inc		69,432
12,147		Sovereign Bancorp, Inc		246,706
5,279		Synovus Financial Corp		141,372
2,867		TCF Financial Corp		75,832
3,374		TD Banknorth, Inc		99,364
1,847		UnionBanCal Corp		119,298
3,904		Valley National Bancorp		100,372
2,826		Washington Federal, Inc		65,535
1,768		Webster Financial Corp		83,874
2,110		Whitney Holding Corp		74,631
2,392		Wilmington Trust Corp		100,894
3,721		Zions Bancorporation		290,015
		TOTAL DEPOSITORY INSTITUTIONS		6,245,012

183

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
EATING AND DRINKING PLACES - 0.28%
1,080		OSI Restaurant Partners, Inc	$	37,368
2,418		Wendy's International, Inc		140,945
		TOTAL EATING AND DRINKING PLACES		178,313
EDUCATIONAL SERVICES - 0.01%
134	*	Laureate Education, Inc		5,712
		TOTAL EDUCATIONAL SERVICES		5,712
ELECTRIC, GAS, AND SANITARY SERVICES - 14.36%
2,733		AGL Resources, Inc		104,182
4,122		Alliant Energy Corp		141,385
8,260	*	Allied Waste Industries, Inc		93,834
7,202		Ameren Corp		363,701
13,814		American Electric Power Co, Inc		473,129
1,868		Aqua America, Inc		42,572
2,846		Atmos Energy Corp		79,432
10,921		Centerpoint Energy, Inc		136,512
7,757	*	CMS Energy Corp		100,376
8,619		Consolidated Edison, Inc		383,028
5,493		Constellation Energy Group, Inc		299,478
3,555		DPL, Inc		95,274
6,235		DTE Energy Co		254,014
13,234	*	Dynegy, Inc (Class A)		72,390
11,416		Edison International		445,224
1,505		El Paso Corp		22,575
2,576		Energen Corp		98,944
5,178		Energy East Corp		123,910
7,292		Entergy Corp		515,909
2,787		Great Plains Energy, Inc		77,646
2,640		Hawaiian Electric Industries, Inc		73,682
6,135		KeySpan Corp		247,854
4,207		MDU Resources Group, Inc		154,018
10,521	*	Mirant Corp		281,963
2,944		National Fuel Gas Co		103,452
9,564		NiSource, Inc		208,878
5,384		Northeast Utilities		111,287
3,367	*	NRG Energy, Inc		162,222
3,745		NSTAR		107,107
3,184		OGE Energy Corp		111,535
4,117		Oneok, Inc		140,143
6,676		Pepco Holdings, Inc		157,420
12,169		PG&E Corp		477,998
3,480		Pinnacle West Capital Corp		138,887
13,344		PPL Corp		431,011
8,872		Progress Energy, Inc		380,343
4,069		Puget Energy, Inc		87,402
345		Questar Corp		27,769
10,756	*	Reliant Energy, Inc		128,857
242		Republic Services, Inc		9,762
4,051		SCANA Corp		156,288
9,079		Sempra Energy		412,913
7,046	*	Sierra Pacific Resources		98,644

184

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,495		Southern Union Co	$	94,575
7,322		TECO Energy, Inc		109,391
3,694		UGI Corp		90,946
2,672		Vectren Corp		72,812
116		Western Gas Resources, Inc		6,943
5,016		Williams Cos, Inc		117,174
4,103		Wisconsin Energy Corp		165,351
1,398		WPS Resources Corp		69,341
14,221		Xcel Energy, Inc		272,759
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		9,132,242
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 3.53%
489	*	ADC Telecommunications, Inc		8,245
3,669		American Power Conversion Corp		71,509
15,025	*	Atmel Corp		83,389
2,417	*	Avnet, Inc		48,388
1,100		AVX Corp		17,369
15,870	*	Ciena Corp		76,335
1,387	*	Comverse Technology, Inc		27,421
401	*	Cree, Inc		9,528
395	*	Energizer Holdings, Inc		23,135
2,064	*	Fairchild Semiconductor International, Inc		37,503
7,684	*	Freescale Semiconductor, Inc (Class B)		225,910
3,910	*	Integrated Device Technology, Inc		55,444
1,126	*	International Rectifier Corp		44,004
2,769		Intersil Corp (Class A)		64,379
3,970		L-3 Communications Holdings, Inc		299,417
3,895	*	LSI Logic Corp		34,860
72,593	*	Lucent Technologies, Inc		175,675
13,796	*	Micron Technology, Inc		207,768
2,696	*	Novellus Systems, Inc		66,591
1,119		RadioShack Corp		15,666
308	*	Rambus, Inc		7,025
11,213	*	Sanmina-SCI Corp		51,580
1,250	*	Spansion, Inc		19,925
445	*	Spectrum Brands, Inc		5,749
1,412		Teleflex, Inc		76,276
15,711	*	Tellabs, Inc		209,113
4,658	*	Vishay Intertechnology, Inc		73,270
2,557		Whirlpool Corp		211,336
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		2,246,810
ENGINEERING AND MANAGEMENT SERVICES - 0.30%
1,686	*	Hewitt Associates, Inc		37,901
2,815	*	Shaw Group, Inc		78,257
1,694	*	URS Corp		71,148
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		187,306
FABRICATED METAL PRODUCTS - 0.62%
800	*	Alliant Techsystems, Inc		61,080
4,215		Commercial Metals Co		108,326
1,859		Crane Co		77,334
2,218		Pentair, Inc		75,833
1,810		Snap-On, Inc		73,160
		TOTAL FABRICATED METAL PRODUCTS		395,733

185

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
FOOD AND KINDRED PRODUCTS - 3.44%
3,570		Campbell Soup Co	$	132,483
10,712		Coca-Cola Enterprises, Inc		218,203
18,214		ConAgra Foods, Inc		402,712
5,719	*	Constellation Brands, Inc (Class A)		142,975
2,600		Corn Products International, Inc		79,560
7,001		Del Monte Foods Co		78,621
5,200		H.J. Heinz Co		214,344
749		Hershey Co		41,247
2,587		Hormel Foods Corp		96,081
2,042		J.M. Smucker Co		91,277
1,043		McCormick & Co, Inc		34,993
1,713		Molson Coors Brewing Co (Class B)		116,278
2,391		Pepsi Bottling Group, Inc		76,871
2,121		PepsiAmericas, Inc		46,895
12,637		Sara Lee Corp		202,445
3,466	*	Smithfield Foods, Inc		99,925
7,553		Tyson Foods, Inc (Class A)		112,238
		TOTAL FOOD AND KINDRED PRODUCTS		2,187,148
FOOD STORES - 1.11%
22,181		Kroger Co		484,877
7,177		Supervalu, Inc		220,334
		TOTAL FOOD STORES		705,211
FORESTRY - 0.15%
2,442		Rayonier, Inc		92,576
		TOTAL FORESTRY		92,576
FURNITURE AND FIXTURES - 0.46%
1,149		Hillenbrand Industries, Inc		55,727
2,939		Leggett & Platt, Inc		73,416
5,489		Masco Corp		162,694
		TOTAL FURNITURE AND FIXTURES		291,837
FURNITURE AND HOMEFURNISHINGS STORES - 0.22%
553		Circuit City Stores, Inc		15,053
1,645	*	Mohawk Industries, Inc		115,726
659		Steelcase, Inc (Class A)		10,841
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		141,620
GENERAL BUILDING CONTRACTORS - 1.23%
736		Beazer Homes USA, Inc		33,760
2,320		Centex Corp		116,696
5,065		DR Horton, Inc		120,648
1,367		KB Home		62,677
2,855		Lennar Corp (Class A)		126,676
675		MDC Holdings, Inc		35,053
3,775		Pulte Homes, Inc		108,682
1,020		Ryland Group, Inc		44,441
1,462		Standard-Pacific Corp		37,573
3,657	*	Toll Brothers, Inc		93,509
		TOTAL GENERAL BUILDING CONTRACTORS		779,715

186

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
GENERAL MERCHANDISE STORES - 0.44%
2,211	*	BJ's Wholesale Club, Inc	$	62,682
2,039		Dillard's, Inc (Class A)		64,942
742		Dollar General Corp		10,373
2,532		Family Dollar Stores, Inc		61,857
4,772		Saks, Inc		77,163
		TOTAL GENERAL MERCHANDISE STORES		277,017
HEALTH SERVICES - 1.70%
5,945		AmerisourceBergen Corp		249,214
4,200		Cigna Corp		413,742
1,345	*	Community Health Systems, Inc		49,429
6,274		Health Management Associates, Inc (Class A)		123,660
1,307	*	LifePoint Hospitals, Inc		41,994
5,420	*	Tenet Healthcare Corp		37,832
2,564	*	Triad Hospitals, Inc		101,483
1,235		Universal Health Services, Inc (Class B)		62,071
		TOTAL HEALTH SERVICES		1,079,425
HOLDING AND OTHER INVESTMENT OFFICES - 14.50%
4,910		Allied Capital Corp		141,261
3,086		AMB Property Corp		155,997
5,180		Annaly Mortgage Management, Inc		66,356
3,408		Apartment Investment & Management Co (Class A)		148,078
7,495		Archstone-Smith Trust		381,271
2,609		AvalonBay Communities, Inc		288,608
4,000		Boston Properties, Inc		361,600
3,188		Brandywine Realty Trust		102,558
1,800		BRE Properties, Inc (Class A)		99,000
1,976		Camden Property Trust		145,335
2,070		CarrAmerica Realty Corp		92,219
2,257		CBL & Associates Properties, Inc		87,865
1,604		Colonial Properties Trust		79,238
2,221		Developers Diversified Realty Corp		115,892
4,730		Duke Realty Corp		166,260
12,840		Equity Office Properties Trust		468,788
10,214		Equity Residential		456,872
452		Essex Property Trust, Inc		50,470
903		Federal Realty Investment Trust		63,210
2,836		General Growth Properties, Inc		127,790
4,800		Health Care Property Investors, Inc		128,352
2,179		Health Care REIT, Inc		76,156
2,523		Hospitality Properties Trust		110,810
18,150		Host Marriott Corp		396,940
6,759		HRPT Properties Trust		78,134
13,915		iShares Russell Midcap Value Index Fund		1,839,146
3,973		iStar Financial, Inc		149,981
7,421		Kimco Realty Corp		270,792
3,128		Liberty Property Trust		138,258
2,185		Mack-Cali Realty Corp		100,335
1,594		New Century Financial Corp		72,925
3,669		New Plan Excel Realty Trust		90,588

187

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
9,062		NTL, Inc	$	225,644
1,162		Pan Pacific Retail Properties, Inc		80,608
6,464		Plum Creek Timber Co, Inc		229,472
8,592		Prologis		447,815
1,597		Public Storage, Inc		121,212
2,918		Reckson Associates Realty Corp		120,747
2,405		Regency Centers Corp		149,471
856		Taubman Centers, Inc		35,010
3,921		Thornburg Mortgage, Inc		109,278
3,446		Trizec Properties, Inc		98,693
1,468		Ventas, Inc		49,736
4,285		Vornado Realty Trust		418,002
2,156		Weingarten Realty Investors		82,532
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		9,219,305
HOTELS AND OTHER LODGING PLACES - 0.12%
1,281		Starwood Hotels & Resorts Worldwide, Inc		77,296
		TOTAL HOTELS AND OTHER LODGING PLACES		77,296
INDUSTRIAL MACHINERY AND EQUIPMENT - 2.51%
2,959	*	AGCO Corp		77,881
231		Black & Decker Corp		19,510
170		Carlisle Cos, Inc		13,481
300		Cummins, Inc		36,675
468		Diebold, Inc		19,010
753		Dover Corp		37,221
200	*	Dresser-Rand Group, Inc		4,696
5,267		Eaton Corp		397,132
1,683	*	Flowserve Corp		95,763
1,388		Kennametal, Inc		86,403
2,113		Lennox International, Inc		55,952
875	*	Lexmark International, Inc		48,851
3,602		Pall Corp		100,856
2,417		Parker Hannifin Corp		187,559
17,053	*	Solectron Corp		58,321
2,096		SPX Corp		117,271
842		Stanley Works		39,759
1,764		Symbol Technologies, Inc		19,034
926	*	Terex Corp		91,396
2,725		Timken Co		91,315
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		1,598,086
INSTRUMENTS AND RELATED PRODUCTS - 2.31%
1,273		Applera Corp (Applied Biosystems Group)		41,182
1,574		Bausch & Lomb, Inc		77,189
179		Beckman Coulter, Inc		9,943
777		Cooper Cos, Inc		34,413
977		DRS Technologies, Inc		47,629
10,073		Eastman Kodak Co		239,536
1,832	*	Fisher Scientific International, Inc		133,828
1,469		Kla-Tencor Corp		61,066
1,990		PerkinElmer, Inc		41,591
3,377		Pitney Bowes, Inc		139,470
846		Tektronix, Inc		24,889

188

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,808	*	Teradyne, Inc	$	25,185
4,018	*	Thermo Electron Corp		145,612
32,197	*	Xerox Corp		447,860
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		1,469,393
INSURANCE AGENTS, BROKERS AND SERVICE - 0.71%
11,175		AON Corp		389,114
2,363		Gallagher (Arthur J.) & Co		59,878
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		448,992
INSURANCE CARRIERS - 6.70%
169	*	Alleghany Corp		46,705
3,393		Ambac Financial Group, Inc		275,172
1,994		American Financial Group, Inc		85,543
497		American National Insurance Co		64,471
1,361		AmerUs Group Co		79,687
4,524		Assurant, Inc		218,962
5,566		Cincinnati Financial Corp		261,658
700	*	CNA Financial Corp		23,072
5,314	*	Conseco, Inc		122,753
1,884		Erie Indemnity Co (Class A)		97,968
6,124		Fidelity National Financial, Inc		238,530
902		Fidelity National Title Group, Inc		17,742
3,006		First American Corp		127,064
1,150		Hanover Insurance Group, Inc		54,579
1,737		HCC Insurance Holdings, Inc		51,137
334	*	Health Net, Inc		15,087
5,706		Leucadia National Corp		166,558
277	*	Markel Corp		96,119
4,725		MBIA, Inc		276,649
930		Mercury General Corp		52,424
3,066		MGIC Investment Corp		199,290
1,751		Nationwide Financial Services, Inc (Class A)		77,184
8,061		Old Republic International Corp		172,264
300	*	Philadelphia Consolidated Holding Co		9,108
3,135		PMI Group, Inc		139,758
2,451		Protective Life Corp		114,266
2,890		Radian Group, Inc		178,544
900		Reinsurance Group Of America, Inc		44,235
4,180		Safeco Corp		235,543
1,918		Stancorp Financial Group, Inc		97,645
3,519		Torchmark Corp		213,674
660		Transatlantic Holdings, Inc		36,894
1,665		Unitrin, Inc		72,577
10,500		UnumProvident Corp		190,365
2,612		W.R. Berkley Corp		89,148
44		Wesco Financial Corp		16,764
		TOTAL INSURANCE CARRIERS		4,259,139
JUSTICE, PUBLIC ORDER AND SAFETY - 0.04%
479	*	Corrections Corp of America		25,358
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		25,358

189

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.13%
3,173		Laidlaw International, Inc	$	79,960
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		79,960
LUMBER AND WOOD PRODUCTS - 0.12%
3,603		Louisiana-Pacific Corp		78,906
		TOTAL LUMBER AND WOOD PRODUCTS		78,906
METAL MINING - 0.27%
3,048		Freeport-McMoRan Copper & Gold, Inc (Class A)		168,890
		TOTAL METAL MINING		168,890
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.90%
3,378		Fortune Brands, Inc		239,872
6,039		Hasbro, Inc		109,366
13,658		Mattel, Inc		225,494
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		574,732
MISCELLANEOUS RETAIL - 0.60%
1,404		Barnes & Noble, Inc		51,246
3,309	*	Dollar Tree Stores, Inc		87,689
2,495		OfficeMax, Inc		101,671
16,876	*	Rite Aid Corp		71,554
2,022		Tiffany & Co		66,766
		TOTAL MISCELLANEOUS RETAIL		378,926
MOTION PICTURES - 0.19%
100	*	Avid Technology, Inc		3,333
7,054	*	Discovery Holding Co (Class A)		103,200
526	*	DreamWorks Animation SKG, Inc (Class A)		12,045
		TOTAL MOTION PICTURES		118,578
NONDEPOSITORY INSTITUTIONS - 1.06%
4,681		American Capital Strategies Ltd		156,720
3,481	*	AmeriCredit Corp		97,190
1,145		CapitalSource, Inc		26,862
6,991		CIT Group, Inc		365,559
140		Student Loan Corp		28,280
		TOTAL NONDEPOSITORY INSTITUTIONS		674,611
OIL AND GAS EXTRACTION - 2.58%
1,713		Cabot Oil & Gas Corp (Class A)		83,937
11,895		Chesapeake Energy Corp		359,824
2,896		Cimarex Energy Co		124,528
366		Equitable Resources, Inc		12,261
1,924	*	Forest Oil Corp		63,800
405	*	National Oilwell Varco, Inc		25,645
4,510	*	Newfield Exploration Co		220,719
6,213		Noble Energy, Inc		291,141
4,535		Pioneer Natural Resources Co		210,469
1,919		Pogo Producing Co		88,466
1,066	*	Pride International, Inc		33,291
273		Rowan Cos, Inc		9,716
793	*	SEACOR Holdings, Inc		65,105
894		Tidewater, Inc		43,985

190

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
100	*	Unit Corp	$	5,689
		TOTAL OIL AND GAS EXTRACTION		1,638,576
PAPER AND ALLIED PRODUCTS - 1.04%
3,677		Bemis Co		112,590
6,352		MeadWestvaco Corp		177,411
8,925	*	Smurfit-Stone Container Corp		97,640
3,473		Sonoco Products Co		109,920
3,875		Temple-Inland, Inc		166,121
		TOTAL PAPER AND ALLIED PRODUCTS		663,682
PERSONAL SERVICES - 0.13%
10,370		Service Corp International		84,412
		TOTAL PERSONAL SERVICES		84,412
PETROLEUM AND COAL PRODUCTS - 3.01%
2,236		Ashland, Inc		149,141
1,824		Frontier Oil Corp		59,098
8,486		Hess Corp		448,485
7,958		Kerr-McGee Corp		551,887
6,545		Murphy Oil Corp		365,604
2,313		Sunoco, Inc		160,268
2,404		Tesoro Corp		178,761
		TOTAL PETROLEUM AND COAL PRODUCTS		1,913,244
PRIMARY METAL INDUSTRIES - 0.71%
1,561		Hubbell, Inc (Class B)		74,382
1,705		Steel Dynamics, Inc		112,087
3,817		United States Steel Corp		267,648
		TOTAL PRIMARY METAL INDUSTRIES		454,117
PRINTING AND PUBLISHING - 2.12%
8,340		Gannett Co, Inc		466,456
1,666		McClatchy Co (Class A)		66,840
4,431		New York Times Co (Class A)		108,737
1,796		R.H. Donnelley Corp		97,110
7,579		R.R. Donnelley & Sons Co		242,149
7,555		Tribune Co		245,009
157		Washington Post Co (Class B)		122,462
		TOTAL PRINTING AND PUBLISHING		1,348,763
RAILROAD TRANSPORTATION - 0.51%
3,971		CSX Corp		279,717
1,685	*	Kansas City Southern Industries, Inc		46,675
		TOTAL RAILROAD TRANSPORTATION		326,392
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.34%
858	*	Jarden Corp		26,126
3,755		Newell Rubbermaid, Inc		96,992
1,735		Sealed Air Corp		90,359
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		213,477
SECURITY AND COMMODITY BROKERS - 1.85%
2,685		A.G. Edwards, Inc		148,534

191

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,533		Ameriprise Financial, Inc	$	336,499
1,137	*	E*Trade Financial Corp		25,946
162		Federated Investors, Inc (Class B)		5,103
3,747		Janus Capital Group, Inc		67,071
4,157		Jefferies Group, Inc		123,172
1,963		Legg Mason, Inc		195,358
2,690	*	NYSE Group, Inc		184,211
3,030		Raymond James Financial, Inc		91,718
		TOTAL SECURITY AND COMMODITY BROKERS		1,177,612
SPECIAL TRADE CONTRACTORS - 0.06%
2,087	*	Quanta Services, Inc		36,168
		TOTAL SPECIAL TRADE CONTRACTORS		36,168
STONE, CLAY, AND GLASS PRODUCTS - 0.10%
511		Gentex Corp		7,154
733	b*	USG Corp		53,458
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		60,612
TOBACCO PRODUCTS - 0.44%
3,271		Loews Corp (Carolina Group)		168,031
2,468		UST, Inc		111,529
		TOTAL TOBACCO PRODUCTS		279,560
TRANSPORTATION BY AIR - 0.54%
1,748	*	AMR Corp		44,434
11,880		Southwest Airlines Co		194,476
3,455	*	UAL Corp		107,174
		TOTAL TRANSPORTATION BY AIR		346,084
TRANSPORTATION EQUIPMENT - 2.18%
1,051	*	Armor Holdings, Inc		57,626
2,909		Autoliv, Inc		164,562
2,694		Brunswick Corp		89,576
63,293		Ford Motor Co		438,620
6,056		Genuine Parts Co		252,293
300		Goodrich Corp		12,087
2,154		ITT Industries, Inc		106,623
2,403		Paccar, Inc		197,959
313		Textron, Inc		28,852
1,393	*	TRW Automotive Holdings Corp		38,001
		TOTAL TRANSPORTATION EQUIPMENT		1,386,199
TRANSPORTATION SERVICES - 0.21%
748		GATX Corp		31,790
4,655		Sabre Holdings Corp		102,410
		TOTAL TRANSPORTATION SERVICES		134,200
TRUCKING AND WAREHOUSING - 0.18%
1,008	*	Swift Transportation Co, Inc		32,014
1,884	*	YRC Worldwide, Inc		79,335
		TOTAL TRUCKING AND WAREHOUSING		111,349

192

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
WATER TRANSPORTATION - 0.19%
1,446		Alexander & Baldwin, Inc	$	64,014
969		Overseas Shipholding Group, Inc		57,316
		TOTAL WATER TRANSPORTATION		121,330
WHOLESALE TRADE-DURABLE GOODS - 1.15%
2,915		Adesa, Inc		64,830
3,785	*	Arrow Electronics, Inc		121,877
1,857		BorgWarner, Inc		120,891
4,919	*	Ingram Micro, Inc (Class A)		89,181
2,197		Omnicare, Inc		104,182
1,153		Reliance Steel & Aluminum Co		95,641
1,949	*	Tech Data Corp		74,666
781		W.W. Grainger, Inc		58,755
		TOTAL WHOLESALE TRADE-DURABLE GOODS		730,023
WHOLESALE TRADE-NONDURABLE GOODS - 0.93%
163		Airgas, Inc		6,072
4,770	*	Dean Foods Co		177,396
15,785		Safeway, Inc		410,410
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		593,878
		TOTAL COMMON STOCKS		63,557,504
		(Cost $54,632,328)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.35%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.35%
$     220,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		220,000
		TOTAL SHORT-TERM INVESTMENTS		220,000
		(Cost $219,940)
		TOTAL PORTFOLIO - 100.32%		63,777,504
		(Cost $54,852,268)
		OTHER ASSETS & LIABILITIES, NET - (0.32%)		(202,569	)
		NET ASSETS -100.00%	$	63,574,935
	*	Non-income producing
	b	In bankruptcy
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

193

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP BLEND INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 100.30%
AMUSEMENT AND RECREATION SERVICES - 0.64%
3,330		GTECH Holdings Corp	$	115,817
4,675		Harrah's Entertainment, Inc		332,766
960		International Speedway Corp (Class A)		44,515
1,734	*	Penn National Gaming, Inc		67,245
2,339		Warner Music Group Corp		68,954
		TOTAL AMUSEMENT AND RECREATION SERVICES		629,297
APPAREL AND ACCESSORY STORES - 1.21%
2,249		Abercrombie & Fitch Co (Class A)		124,662
3,015		American Eagle Outfitters, Inc		102,631
1,864	*	AnnTaylor Stores Corp		80,860
4,581	*	Chico's FAS, Inc		123,595
2,468		Claire's Stores, Inc		62,959
4,070		Foot Locker, Inc		99,674
8,748		Limited Brands, Inc		223,861
5,909		Nordstrom, Inc		215,679
3,669		Ross Stores, Inc		102,915
2,766	*	Urban Outfitters, Inc		48,377
		TOTAL APPAREL AND ACCESSORY STORES		1,185,213
APPAREL AND OTHER TEXTILE PRODUCTS - 0.44%
2,940		Jones Apparel Group, Inc		93,463
2,750		Liz Claiborne, Inc		101,915
1,490		Polo Ralph Lauren Corp		81,801
2,258		VF Corp		153,363
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		430,542
AUTO REPAIR, SERVICES AND PARKING - 0.09%
1,477		Ryder System, Inc		86,301
		TOTAL AUTO REPAIR, SERVICES AND PARKING		86,301
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.55%
2,696		Advance Auto Parts		77,914
3,824	*	Autonation, Inc		81,987
1,394	*	Autozone, Inc		122,951
2,720	*	Carmax, Inc		96,451
1,717	*	Copart, Inc		42,169
2,804	*	O'Reilly Automotive, Inc		87,457
1,332		United Auto Group, Inc		28,438
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		537,367
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.27%
3,233		Fastenal Co		130,258
2,889		Sherwin-Williams Co		137,170
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		267,428

194

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
BUSINESS SERVICES - 6.94%
6,967	*	Activision, Inc	$	79,284
2,135		Acxiom Corp		53,375
2,933	*	Affiliated Computer Services, Inc (Class A)		151,372
3,918	*	Akamai Technologies, Inc		141,792
2,085	*	Alliance Data Systems Corp		122,640
5,760	*	Autodesk, Inc		198,490
9,845	*	BEA Systems, Inc		128,871
5,558	*	BMC Software, Inc		132,836
1,263		Brink's Co		71,246
11,435		CA, Inc		234,989
6,980	*	Cadence Design Systems, Inc		119,707
3,667	*	Ceridian Corp		89,621
1,544	*	Cerner Corp		57,298
2,180	*	Checkfree Corp		108,041
2,227	*	ChoicePoint, Inc		93,022
4,690	*	Citrix Systems, Inc		188,257
980	*	Clear Channel Outdoor Holdings, Inc		20,541
3,517	*	Cognizant Technology Solutions Corp		236,940
4,759	*	Computer Sciences Corp		230,526
9,882	*	Compuware Corp		66,209
3,430	*	Convergys Corp		66,885
1,550	*	DST Systems, Inc		92,225
7,677	*	Electronic Arts, Inc		330,418
13,212		Electronic Data Systems Corp		317,881
7,035	*	Emdeon Corp		87,304
3,319		Equifax, Inc		113,974
5,811	*	Expedia, Inc		86,991
1,045	*	F5 Networks, Inc		55,887
1,025		Factset Research Systems, Inc		48,483
1,601		Fair Isaac Corp		58,132
2,450		Fidelity National Information Services, Inc		86,730
4,477	*	Fiserv, Inc		203,077
1,265	*	Getty Images, Inc		80,340
5,044		IMS Health, Inc		135,431
10,607	*	Interpublic Group of Cos, Inc		88,568
4,360	*	Intuit, Inc		263,300
2,839	*	Iron Mountain, Inc		106,122
14,318	*	Juniper Networks, Inc		228,945
1,123	*	Kinetic Concepts, Inc		49,580
2,169	*	Lamar Advertising Co		116,822
2,251		Manpower, Inc		145,415
1,533	*	Mastercard, Inc		73,584
4,164	*	McAfee, Inc		101,060
2,123		MoneyGram International, Inc		72,076
3,127	*	Monster Worldwide, Inc		133,398
2,394	*	NAVTEQ Corp		106,964
4,730	*	NCR Corp		173,307
8,789	*	Novell, Inc		58,271
4,678	*	Red Hat, Inc		109,465
1,650		Reynolds & Reynolds Co (Class A)		50,606
3,858		Robert Half International, Inc		162,036
2,139	*	Salesforce.com, Inc		57,026

195

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,370		ServiceMaster Co	$	76,132
3,590	*	Synopsys, Inc		67,384
1,120		Total System Services, Inc		21,560
8,553	*	Unisys Corp		53,713
1,633	*	United Rentals, Inc		52,223
6,240	*	VeriSign, Inc		144,581
178	*	WebMD Health Corp		8,419
		TOTAL BUSINESS SERVICES		6,809,372
CHEMICALS AND ALLIED PRODUCTS - 5.30%
577	*	Abraxis BioScience, Inc		13,756
5,546		Air Products & Chemicals, Inc		354,500
947		Albemarle Corp		45,342
1,954		Alberto-Culver Co		95,199
2,418		Avery Dennison Corp		140,389
11,234		Avon Products, Inc		348,254
2,606	*	Barr Pharmaceuticals, Inc		124,280
1,590		Cabot Corp		54,887
1,856		Celanese Corp (Series A)		37,900
1,571	*	Cephalon, Inc		94,417
1,795	*	Charles River Laboratories International, Inc		66,056
5,918		Chemtura Corp		55,274
1,731		Church & Dwight Co, Inc		63,043
3,852		Clorox Co		234,856
994		Cytec Industries, Inc		53,338
2,238		Dade Behring Holdings, Inc		93,190
2,140		Eastman Chemical Co		115,560
4,670		Ecolab, Inc		189,509
3,246		Estee Lauder Cos (Class A)		125,523
1,006		FMC Corp		64,776
8,247	*	Forest Laboratories, Inc		319,076
4,030	*	Hospira, Inc		173,048
2,214	*	Huntsman Corp		38,346
830	*	Idexx Laboratories, Inc		62,358
1,766	*	ImClone Systems, Inc		68,238
2,351		International Flavors & Fragrances, Inc		82,849
1,312	*	Invitrogen Corp		86,684
6,220	*	King Pharmaceuticals, Inc		105,740
438	*	Kos Pharmaceuticals, Inc		16,478
1,760		Lubrizol Corp		70,136
5,456		Lyondell Chemical Co		123,633
6,452	*	Medimmune, Inc		174,849
7,936	*	Millennium Pharmaceuticals, Inc		79,122
3,210	*	Mosaic Co		50,237
5,396		Mylan Laboratories, Inc		107,920
2,591	*	Nalco Holding Co		45,679
2,964	*	PDL BioPharma, Inc		54,567
4,218		PPG Industries, Inc		278,388
4,116		Rohm & Haas Co		206,294
2,970		RPM International, Inc		53,460
1,110		Scotts Miracle-Gro Co (Class A)		46,975
2,711	*	Sepracor, Inc		154,907
1,732		Sigma-Aldrich Corp		125,812
2,524		Valspar Corp		66,659

196

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,084	*	VCA Antech, Inc	$	66,542
2,792	*	Vertex Pharmaceuticals, Inc		102,494
2,760	*	Watson Pharmaceuticals, Inc		64,253
312		Westlake Chemical Corp		9,298
		TOTAL CHEMICALS AND ALLIED PRODUCTS		5,204,091
COAL MINING - 0.51%
3,654		Arch Coal, Inc		154,820
4,700		Consol Energy, Inc		219,584
1,154		Foundation Coal Holdings, Inc		54,157
2,119		Massey Energy Co		76,284
		TOTAL COAL MINING		504,845
COMMUNICATIONS - 3.73%
10,675	*	American Tower Corp (Class A)		332,206
11,802	*	Avaya, Inc		134,779
5,470		Cablevision Systems Corp (Class A)		117,331
2,997		CenturyTel, Inc		111,339
8,361		Citizens Communications Co		109,111
5,487	*	Crown Castle International Corp		189,521
5,275	*	EchoStar Communications Corp (Class A)		162,523
3,720	*	Embarq Corp		152,483
1,656		Global Payments, Inc		80,399
721		Hearst-Argyle Television, Inc		15,905
4,607	*	IAC/InterActiveCorp		122,039
1,065	*	Leap Wireless International, Inc		50,534
21,476	*	Level 3 Communications, Inc		95,353
11,812	*	Liberty Global, Inc		253,958
3,530	*	Liberty Media Holding Corp (Capital)		295,708
17,688	*	Liberty Media Holding Corp (Interactive)		305,295
1,544	*	NeuStar, Inc		52,110
3,478	*	NII Holdings, Inc (Class B)		196,090
1,543		PanAmSat Holding Corp		38,544
40,033	*	Qwest Communications International, Inc		323,867
2,612	*	SBA Communications Corp		68,278
2,861		Telephone & Data Systems, Inc		118,445
5,423	*	Univision Communications, Inc (Class A)		181,671
421	*	US Cellular Corp		25,513
721	*	West Corp		34,543
6,614	*	XM Satellite Radio Holdings, Inc		96,895
		TOTAL COMMUNICATIONS		3,664,440
DEPOSITORY INSTITUTIONS - 5.60%
8,836		AmSouth Bancorp		233,712
3,414		Associated Banc-Corp		107,643
2,330		Astoria Financial Corp		70,949
1,685		Bancorpsouth, Inc		45,916
1,367		Bank of Hawaii Corp		67,803
604		BOK Financial Corp		30,001
590		Capitol Federal Financial		20,231
1,080		City National Corp		70,297
4,000		Colonial Bancgroup, Inc		102,720
4,132		Comerica, Inc		214,823
4,712		Commerce Bancorp, Inc		168,077

197

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,602		Commerce Bancshares, Inc	$	80,180
3,166		Compass Bancshares, Inc		176,030
1,440		Cullen/Frost Bankers, Inc		82,512
1,597		East West Bancorp, Inc		60,542
120		First Citizens Bancshares, Inc (Class A)		24,060
3,167		First Horizon National Corp		127,313
4,371		Fulton Financial Corp		69,586
15,127		Hudson City Bancorp, Inc		201,643
6,303		Huntington Bancshares, Inc		148,625
1,611		IndyMac Bancorp, Inc		73,864
1,700		Investors Financial Services Corp		76,330
10,301		Keycorp		367,540
1,939		M&T Bank Corp		228,647
6,253		Marshall & Ilsley Corp		286,012
3,050		Mercantile Bankshares Corp		108,793
7,513		New York Community Bancorp, Inc		124,040
11,878		North Fork Bancorporation, Inc		358,359
5,358		Northern Trust Corp		296,297
1,580		People's Bank		51,903
7,272		Popular, Inc		139,622
2,500		Sky Financial Group, Inc		59,025
1,681		South Financial Group, Inc		44,395
9,702		Sovereign Bancorp, Inc		197,048
6,900		Synovus Financial Corp		184,782
3,480		TCF Financial Corp		92,046
2,639		TD Banknorth, Inc		77,719
1,374		UnionBanCal Corp		88,747
2,956		Valley National Bancorp		75,999
2,301		Washington Federal, Inc		53,360
1,381		Webster Financial Corp		65,515
1,661		Whitney Holding Corp		58,750
1,700		Wilmington Trust Corp		71,706
2,700		Zions Bancorporation		210,438
		TOTAL DEPOSITORY INSTITUTIONS		5,493,600
EATING AND DRINKING PLACES - 0.99%
2,949		Aramark Corp (Class B)		97,641
2,255		Brinker International, Inc		81,857
3,831		Darden Restaurants, Inc		150,941
1,620		OSI Restaurant Partners, Inc		56,052
2,061	*	The Cheesecake Factory, Inc		55,544
784	*	Tim Hortons, Inc		20,188
2,940		Wendy's International, Inc		171,373
6,810		Yum! Brands, Inc		342,339
		TOTAL EATING AND DRINKING PLACES		975,935
EDUCATIONAL SERVICES - 0.39%
3,498	*	Apollo Group, Inc (Class A)		180,742
2,509	*	Career Education Corp		74,994
1,145	*	ITT Educational Services, Inc		75,352
1,142	*	Laureate Education, Inc		48,683
		TOTAL EDUCATIONAL SERVICES		379,771

198

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 8.63%
16,821	*	AES Corp	$	310,347
2,030		AGL Resources, Inc		77,384
4,248	*	Allegheny Energy, Inc		157,473
3,020		Alliant Energy Corp		103,586
6,263	*	Allied Waste Industries, Inc		71,148
5,053		Ameren Corp		255,176
9,887		American Electric Power Co, Inc		338,630
3,280		Aqua America, Inc		74,751
2,112		Atmos Energy Corp		58,946
7,555		Centerpoint Energy, Inc		94,438
5,637	*	CMS Energy Corp		72,943
6,269		Consolidated Edison, Inc		278,594
4,589		Constellation Energy Group, Inc		250,192
2,894	*	Covanta Holding Corp		51,079
3,200		DPL, Inc		85,760
4,510		DTE Energy Co		183,737
9,210	*	Dynegy, Inc (Class A)		50,379
8,327		Edison International		324,753
16,467		El Paso Corp		247,005
1,862		Energen Corp		71,519
3,861		Energy East Corp		92,394
5,111		Entergy Corp		361,603
2,010		Great Plains Energy, Inc		55,999
2,120		Hawaiian Electric Industries, Inc		59,169
4,539		KeySpan Corp		183,376
2,690		Kinder Morgan, Inc		268,704
2,940		MDU Resources Group, Inc		107,633
7,532	*	Mirant Corp		201,858
2,156		National Fuel Gas Co		75,762
6,982		NiSource, Inc		152,487
3,710		Northeast Utilities		76,686
3,441	*	NRG Energy, Inc		165,787
2,740		NSTAR		78,364
2,310		OGE Energy Corp		80,919
3,011		Oneok, Inc		102,494
4,890		Pepco Holdings, Inc		115,306
8,884		PG&E Corp		348,964
2,510		Pinnacle West Capital Corp		100,174
9,768		PPL Corp		315,506
6,412		Progress Energy, Inc		274,882
2,980		Puget Energy, Inc		64,010
2,140		Questar Corp		172,249
7,848	*	Reliant Energy, Inc		94,019
3,040		Republic Services, Inc		122,634
2,908		SCANA Corp		112,191
6,614		Sempra Energy		300,805
4,994	*	Sierra Pacific Resources		69,916
2,365		Southern Union Co		63,997
1,171	*	Stericycle, Inc		76,232
5,241		TECO Energy, Inc		78,301
2,746		UGI Corp		67,607
1,920		Vectren Corp		52,320
1,592		Western Gas Resources, Inc		95,281
15,056		Williams Cos, Inc		351,708

199

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,980		Wisconsin Energy Corp	$	120,094
1,149		WPS Resources Corp		56,990
10,360		Xcel Energy, Inc		198,705
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		8,472,966
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.64%
3,099	*	ADC Telecommunications, Inc		52,249
4,547	*	Agere Systems, Inc		66,841
9,177	*	Altera Corp		161,056
4,280		American Power Conversion Corp		83,417
1,788		Ametek, Inc		84,715
2,228		Amphenol Corp (Class A)		124,679
9,205		Analog Devices, Inc		295,849
10,877	*	Atmel Corp		60,367
3,309	*	Avnet, Inc		66,246
1,410		AVX Corp		22,264
14,764	*	Ciena Corp		71,015
4,997	*	Comverse Technology, Inc		98,791
1,920	*	Cree, Inc		45,619
3,513	*	Cypress Semiconductor Corp		51,079
856	*	Dolby Laboratories, Inc (Class A)		19,945
1,581	*	Energizer Holdings, Inc		92,599
3,046	*	Fairchild Semiconductor International, Inc		55,346
10,164	*	Freescale Semiconductor, Inc (Class B)		298,822
1,717		Harman International Industries, Inc		146,580
3,359		Harris Corp		139,432
5,012	*	Integrated Device Technology, Inc		71,070
1,790	*	International Rectifier Corp		69,953
3,570		Intersil Corp (Class A)		83,003
40,820	*	JDS Uniphase Corp		103,275
3,039		L-3 Communications Holdings, Inc		229,201
1,040		Lincoln Electric Holdings, Inc		65,156
7,752		Linear Technology Corp		259,614
10,070	*	LSI Logic Corp		90,127
114,353	*	Lucent Technologies, Inc		276,734
8,163		Maxim Integrated Products, Inc		262,114
3,561	*	MEMC Electronic Materials, Inc		133,538
5,331		Microchip Technology, Inc		178,855
18,330	*	Micron Technology, Inc		276,050
3,547		Molex, Inc		119,073
8,641		National Semiconductor Corp		206,088
9,430	*	Network Appliance, Inc		332,879
3,076	*	Novellus Systems, Inc		75,977
8,822	*	Nvidia Corp		187,820
5,217	*	PMC - Sierra, Inc		49,040
4,110	*	QLogic Corp		70,856
3,500		RadioShack Corp		49,000
2,237	*	Rambus, Inc		51,026
4,401		Rockwell Collins, Inc		245,884
13,712	*	Sanmina-SCI Corp		63,075
1,265	*	Silicon Laboratories, Inc		44,465
35,860	*	Sirius Satellite Radio, Inc		170,335
1,113	*	Spansion, Inc		17,741
962		Teleflex, Inc		51,967

200

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
11,415	*	Tellabs, Inc	$	151,934
1,526	*	Thomas & Betts Corp		78,284
4,253	*	Vishay Intertechnology, Inc		66,900
1,806		Whirlpool Corp		149,266
8,779		Xilinx, Inc		198,844
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		6,516,055
ENGINEERING AND MANAGEMENT SERVICES - 1.88%
2,706	*	Amylin Pharmaceuticals, Inc		133,595
8,805	*	Celgene Corp		417,621
1,035		Corporate Executive Board Co		103,707
2,190		Fluor Corp		203,517
1,287	*	Gen-Probe, Inc		69,472
1,265	*	Hewitt Associates, Inc		28,437
1,467	*	Jacobs Engineering Group, Inc		116,832
8,541		Paychex, Inc		332,928
2,478		Pharmaceutical Product Development, Inc		87,027
4,035		Quest Diagnostics, Inc		241,777
2,013	*	Shaw Group, Inc		55,961
1,287	*	URS Corp		54,054
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,844,928
FABRICATED METAL PRODUCTS - 0.53%
933	*	Alliant Techsystems, Inc		71,235
2,689		Ball Corp		99,601
3,034		Commercial Metals Co		77,974
1,306		Crane Co		54,330
4,244	*	Crown Holdings, Inc		66,079
2,650		Pentair, Inc		90,604
1,410		Snap-On, Inc		56,992
		TOTAL FABRICATED METAL PRODUCTS		516,815
FOOD AND KINDRED PRODUCTS - 2.84%
570	*	Burger King Holdings, Inc		8,978
5,929		Campbell Soup Co		220,025
7,731		Coca-Cola Enterprises, Inc		157,480
13,336		ConAgra Foods, Inc		294,859
4,945	*	Constellation Brands, Inc (Class A)		123,625
1,823		Corn Products International, Inc		55,784
4,923		Del Monte Foods Co		55,285
8,543		H.J. Heinz Co		352,142
386	*	Hansen Natural Corp		73,483
4,348		Hershey Co		239,444
1,960		Hormel Foods Corp		72,794
1,386		J.M. Smucker Co		61,954
3,460		McCormick & Co, Inc		116,083
1,238		Molson Coors Brewing Co (Class B)		84,035
3,563		Pepsi Bottling Group, Inc		114,550
1,760		PepsiAmericas, Inc		38,914
18,921		Sara Lee Corp		303,114
2,418	*	Smithfield Foods, Inc		69,711
5,715		Tyson Foods, Inc (Class A)		84,925
5,811		Wrigley (Wm.) Jr Co		263,587
		TOTAL FOOD AND KINDRED PRODUCTS		2,790,772

201

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
FOOD STORES - 0.85%
18,326		Kroger Co	$	400,606
710	*	Panera Bread Co (Class A)		47,740
5,305		Supervalu, Inc		162,864
3,504		Whole Foods Market, Inc		226,499
		TOTAL FOOD STORES		837,709
FORESTRY - 0.08%
2,019		Rayonier, Inc		76,540
		TOTAL FORESTRY		76,540
FURNITURE AND FIXTURES - 0.55%
1,460		Hillenbrand Industries, Inc		70,810
1,280		HNI Corp		58,048
4,683		Leggett & Platt, Inc		116,981
9,950		Masco Corp		294,918
		TOTAL FURNITURE AND FIXTURES		540,757
FURNITURE AND HOMEFURNISHINGS STORES - 0.65%
7,174	*	Bed Bath & Beyond, Inc		237,962
4,570		Circuit City Stores, Inc		124,395
1,646	*	GameStop Corp		69,132
1,350	*	Mohawk Industries, Inc		94,973
1,832		Steelcase, Inc (Class A)		30,136
2,464		Williams-Sonoma, Inc		83,899
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		640,497
GENERAL BUILDING CONTRACTORS - 1.16%
1,066		Beazer Homes USA, Inc		48,897
3,097		Centex Corp		155,779
7,892		DR Horton, Inc		187,987
2,070		KB Home		94,910
3,422		Lennar Corp (Class A)		151,834
823		MDC Holdings, Inc		42,738
120	*	NVR, Inc		58,950
5,442		Pulte Homes, Inc		156,675
1,180		Ryland Group, Inc		51,413
1,780		Standard-Pacific Corp		45,746
3,250	*	Toll Brothers, Inc		83,103
1,103		Walter Industries, Inc		63,588
		TOTAL GENERAL BUILDING CONTRACTORS		1,141,620
GENERAL MERCHANDISE STORES - 1.05%
1,739	*	BJ's Wholesale Club, Inc		49,301
1,609		Dillard's, Inc (Class A)		51,247
8,050		Dollar General Corp		112,539
3,958		Family Dollar Stores, Inc		96,694
5,912		JC Penney Co, Inc		399,119
3,230		Saks, Inc		52,229
11,636		TJX Cos, Inc		265,999
		TOTAL GENERAL MERCHANDISE STORES		1,027,128

202

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
HEALTH SERVICES - 2.30%
5,406		AmerisourceBergen Corp	$	226,620
293		Brookdale Senior Living, Inc		13,109
3,042		Cigna Corp		299,667
2,604	*	Community Health Systems, Inc		95,697
1,248	*	Covance, Inc		76,403
4,088	*	Coventry Health Care, Inc		224,595
2,562	*	DaVita, Inc		127,331
1,524	*	Edwards Lifesciences Corp		69,235
3,149	*	Express Scripts, Inc		225,909
6,144		Health Management Associates, Inc (Class A)		121,098
3,190	*	Laboratory Corp of America Holdings		198,514
1,378	*	LifePoint Hospitals, Inc		44,275
2,363	*	Lincare Holdings, Inc		89,416
2,049		Manor Care, Inc		96,139
1,198	*	Pediatrix Medical Group, Inc		54,269
1,388	*	Sierra Health Services, Inc		62,502
12,331	*	Tenet Healthcare Corp		86,070
2,279	*	Triad Hospitals, Inc		90,203
1,200		Universal Health Services, Inc (Class B)		60,312
		TOTAL HEALTH SERVICES		2,261,364
HOLDING AND OTHER INVESTMENT OFFICES - 8.45%
843	*	Affiliated Managers Group, Inc		73,248
3,570		Allied Capital Corp		102,709
2,126		AMB Property Corp		107,469
4,250		Annaly Mortgage Management, Inc		54,443
2,444		Apartment Investment & Management Co (Class A)		106,192
5,366		Archstone-Smith Trust		272,968
1,890		AvalonBay Communities, Inc		209,072
2,822		Boston Properties, Inc		255,109
2,212		Brandywine Realty Trust		71,160
1,295		BRE Properties, Inc (Class A)		71,225
1,373		Camden Property Trust		100,984
1,391		CarrAmerica Realty Corp		61,969
1,535		CBL & Associates Properties, Inc		59,758
1,094		Colonial Properties Trust		54,044
2,789		Developers Diversified Realty Corp		145,530
3,467		Duke Realty Corp		121,865
9,475		Equity Office Properties Trust		345,932
7,375		Equity Residential		329,884
590		Essex Property Trust, Inc		65,879
1,400		Federal Realty Investment Trust		98,000
4,481		General Growth Properties, Inc		201,914
457		Global Signal, Inc		21,168
3,410		Health Care Property Investors, Inc		91,183
1,550		Health Care REIT, Inc		54,173
1,921		Hospitality Properties Trust		84,370
13,064		Host Marriott Corp		285,710
5,060		HRPT Properties Trust		58,494
21,250		iShares Russell Midcap Index Fund		1,949,688
2,900		iStar Financial, Inc		109,475
783		Kilroy Realty Corp		56,572
5,342		Kimco Realty Corp		194,930
2,309		Liberty Property Trust		102,058

203

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,760		Macerich Co	$	123,552
1,669		Mack-Cali Realty Corp		76,640
1,206		New Century Financial Corp		55,175
2,525		New Plan Excel Realty Trust		62,342
6,669		NTL, Inc		166,058
1,066		Pan Pacific Retail Properties, Inc		73,948
4,830		Plum Creek Timber Co, Inc		171,465
6,227		Prologis		324,551
2,162		Public Storage, Inc		164,096
2,096		Reckson Associates Realty Corp		86,732
1,808		Regency Centers Corp		112,367
1,173		Shurgard Storage Centers, Inc (Class A)		73,312
1,080		SL Green Realty Corp		118,228
1,287		Taubman Centers, Inc		52,638
2,810		Thornburg Mortgage, Inc		78,315
2,382		Trizec Properties, Inc		68,220
3,516		United Dominion Realty Trust, Inc		98,483
2,549		Ventas, Inc		86,360
3,091		Vornado Realty Trust		301,527
2,127		Weingarten Realty Investors		81,422
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		8,292,606
HOTELS AND OTHER LODGING PLACES - 1.03%
1,051		Boyd Gaming Corp		42,418
794		Choice Hotels International, Inc		48,116
9,666		Hilton Hotels Corp		273,354
3,114	*	MGM Mirage		127,051
5,564		Starwood Hotels & Resorts Worldwide, Inc		335,732
1,348		Station Casinos, Inc		91,772
1,239	*	Wynn Resorts Ltd		90,819
		TOTAL HOTELS AND OTHER LODGING PLACES		1,009,262
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.43%
2,276	*	AGCO Corp		59,904
4,551		American Standard Cos, Inc		196,922
1,970		Black & Decker Corp		166,386
2,886	*	Cameron International Corp		137,864
733		Carlisle Cos, Inc		58,127
1,511		CDW Corp		82,576
1,187		Cummins, Inc		145,111
1,800		Diebold, Inc		73,116
1,850		Donaldson Co, Inc		62,660
5,157		Dover Corp		254,911
660	*	Dresser-Rand Group, Inc		15,497
3,833		Eaton Corp		289,008
1,414	*	Flowserve Corp		80,457
1,782	*	FMC Technologies, Inc		120,214
1,313	*	Gardner Denver, Inc		50,551
1,801		Graco, Inc		82,810
3,339	*	Grant Prideco, Inc		149,420
1,268		IDEX Corp		59,850
8,643		International Game Technology		327,915
4,577		Jabil Circuit, Inc		117,171
3,140		Joy Global, Inc		163,563

204

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
955		Kennametal, Inc	$	59,449
3,594	*	Lam Research Corp		167,552
1,482		Lennox International, Inc		39,243
2,679	*	Lexmark International, Inc		149,569
1,551		Manitowoc Co, Inc		69,020
3,248		Pall Corp		90,944
3,083		Parker Hannifin Corp		239,241
4,537		Rockwell Automation, Inc		326,709
5,022	*	SanDisk Corp		256,022
1,659	*	Scientific Games Corp (Class A)		59,094
5,518		Smith International, Inc		245,385
23,035	*	Solectron Corp		78,780
1,510		SPX Corp		84,484
2,104		Stanley Works		99,351
6,373		Symbol Technologies, Inc		68,765
1,239	*	Terex Corp		122,289
2,041		Timken Co		68,394
1,142		Toro Co		53,331
3,343	*	Varian Medical Systems, Inc		158,291
980	*	VeriFone Holdings, Inc		29,870
5,500	*	Western Digital Corp		108,955
1,823	*	Zebra Technologies Corp (Class A)		62,274
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		5,331,045
INSTRUMENTS AND RELATED PRODUCTS - 4.08%
1,726	*	Advanced Medical Optics, Inc		87,508
3,786		Allergan, Inc		406,086
4,690		Applera Corp (Applied Biosystems Group)		151,722
2,643		Bard (C.R.), Inc		193,626
1,330		Bausch & Lomb, Inc		65,223
1,650		Beckman Coulter, Inc		91,658
6,260		Biomet, Inc		195,875
1,038		Cooper Cos, Inc		45,973
2,023		Dentsply International, Inc		122,594
970		DRS Technologies, Inc		47,288
7,271		Eastman Kodak Co		172,904
3,110	*	Fisher Scientific International, Inc		227,186
927	*	Intuitive Surgical, Inc		109,358
5,110		Kla-Tencor Corp		212,423
1,076	*	Mettler-Toledo International, Inc		65,173
1,379	*	Millipore Corp		86,863
1,350		National Instruments Corp		36,990
3,180		PerkinElmer, Inc		66,462
5,633		Pitney Bowes, Inc		232,643
1,910	*	Resmed, Inc		89,675
1,830	*	Respironics, Inc		62,623
2,154		Roper Industries, Inc		100,700
9,107	*	St. Jude Medical, Inc		295,249
1,014	*	Techne Corp		51,633
2,110		Tektronix, Inc		62,076
5,090	*	Teradyne, Inc		70,904
4,080	*	Thermo Electron Corp		147,859
1,418	*	Trimble Navigation Ltd		63,300
2,656	*	Waters Corp		117,926

205

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
23,351	*	Xerox Corp	$	324,812
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		4,004,312
INSURANCE AGENTS, BROKERS AND SERVICE - 0.43%
8,062		AON Corp		280,719
2,754		Brown & Brown, Inc		80,472
2,380		Gallagher (Arthur J.) & Co		60,309
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		421,500
INSURANCE CARRIERS - 3.75%
139	*	Alleghany Corp		38,414
2,718		Ambac Financial Group, Inc		220,430
1,344		American Financial Group, Inc		57,658
265		American National Insurance Co		34,376
998		AmerUs Group Co		58,433
3,175		Assurant, Inc		153,670
4,019		Cincinnati Financial Corp		188,933
500	*	CNA Financial Corp		16,480
3,723	*	Conseco, Inc		86,001
1,156		Erie Indemnity Co (Class A)		60,112
4,386		Fidelity National Financial, Inc		170,835
735		Fidelity National Title Group, Inc		14,457
2,100		First American Corp		88,767
1,274		Hanover Insurance Group, Inc		60,464
2,722		HCC Insurance Holdings, Inc		80,136
2,840	*	Health Net, Inc		128,283
4,152	*	Humana, Inc		222,962
4,178		Leucadia National Corp		121,956
255	*	Markel Corp		88,485
3,449		MBIA, Inc		201,939
680		Mercury General Corp		38,332
2,245		MGIC Investment Corp		145,925
1,323		Nationwide Financial Services, Inc (Class A)		58,318
6,040		Old Republic International Corp		129,075
1,348	*	Philadelphia Consolidated Holding Co		40,925
2,290		PMI Group, Inc		102,088
1,770		Protective Life Corp		82,517
2,152		Radian Group, Inc		132,951
820		Reinsurance Group Of America, Inc		40,303
3,037		Safeco Corp		171,135
1,370		Stancorp Financial Group, Inc		69,747
2,575		Torchmark Corp		156,354
726		Transatlantic Holdings, Inc		40,583
1,110		Unitrin, Inc		48,385
7,658		UnumProvident Corp		138,840
4,101		W.R. Berkley Corp		139,967
823	*	WellCare Health Plans, Inc		40,368
39		Wesco Financial Corp		14,859
		TOTAL INSURANCE CARRIERS		3,683,463
JUSTICE, PUBLIC ORDER AND SAFETY - 0.05%
1,015	*	Corrections Corp of America		53,734
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		53,734

206

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
LEATHER AND LEATHER PRODUCTS - 0.30%
9,706	*	Coach, Inc	$	290,209
		TOTAL LEATHER AND LEATHER PRODUCTS		290,209
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.06%
2,491		Laidlaw International, Inc		62,773
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		62,773
LUMBER AND WOOD PRODUCTS - 0.06%
2,740		Louisiana-Pacific Corp		60,006
		TOTAL LUMBER AND WOOD PRODUCTS		60,006
METAL MINING - 0.29%
4,766		Freeport-McMoRan Copper & Gold, Inc (Class A)		264,084
191		Southern Copper Corp		17,024
		TOTAL METAL MINING		281,108
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.52%
3,744		Fortune Brands, Inc		265,861
4,204		Hasbro, Inc		76,134
9,977		Mattel, Inc		164,720
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		506,715
MISCELLANEOUS RETAIL - 1.38%
7,874	*	Amazon.com, Inc		304,566
1,233		Barnes & Noble, Inc		45,005
1,507	*	Coldwater Creek, Inc		40,327
913	*	Dick's Sporting Goods, Inc		36,155
2,650	*	Dollar Tree Stores, Inc		70,225
3,460		Michaels Stores, Inc		142,690
994		MSC Industrial Direct Co (Class A)		47,285
814	*	Nutri/System, Inc		50,574
7,342	*	Office Depot, Inc		278,996
1,795		OfficeMax, Inc		73,146
3,525		Petsmart, Inc		90,240
12,449	*	Rite Aid Corp		52,784
3,671		Tiffany & Co		121,216
		TOTAL MISCELLANEOUS RETAIL		1,353,209
MOTION PICTURES - 0.16%
6,999	*	Discovery Holding Co (Class A)		102,395
916	*	DreamWorks Animation SKG, Inc (Class A)		20,976
1,502		Regal Entertainment Group (Class A)		30,521
		TOTAL MOTION PICTURES		153,892
NONDEPOSITORY INSTITUTIONS - 0.63%
3,396		American Capital Strategies Ltd		113,698
3,290	*	AmeriCredit Corp		91,857
2,329		CapitalSource, Inc		54,638
5,102		CIT Group, Inc		266,784
770		First Marblehead Corp		43,844
548	*	Nelnet, Inc		22,221
111		Student Loan Corp		22,422
		TOTAL NONDEPOSITORY INSTITUTIONS		615,464

207

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
NONMETALLIC MINERALS, EXCEPT FUELS - 0.26%
1,131		Florida Rock Industries, Inc	$	56,177
2,599		Vulcan Materials Co		202,722
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		258,899
OIL AND GAS EXTRACTION - 3.70%
8,205		BJ Services Co		305,718
1,213		Cabot Oil & Gas Corp (Class A)		59,437
1,391	*	Cheniere Energy, Inc		54,249
8,687		Chesapeake Energy Corp		262,782
2,038		Cimarex Energy Co		87,634
674	*	CNX Gas Corp		20,220
2,910	*	Denbury Resources, Inc		92,160
1,500		Diamond Offshore Drilling, Inc		125,895
3,880		ENSCO International, Inc		178,558
3,130		Equitable Resources, Inc		104,855
1,336	*	Forest Oil Corp		44,302
2,201	*	Global Industries Ltd		36,757
1,961	*	Helix Energy Solutions Group, Inc		79,146
1,309		Helmerich & Payne, Inc		78,880
4,445	*	National Oilwell Varco, Inc		281,457
3,252	*	Newfield Exploration Co		159,153
4,510		Noble Energy, Inc		211,339
1,340	*	Oceaneering International, Inc		61,439
4,384		Patterson-UTI Energy, Inc		124,111
3,334		Pioneer Natural Resources Co		154,731
2,006	*	Plains Exploration & Production Co		81,323
1,511		Pogo Producing Co		69,657
4,183	*	Pride International, Inc		130,635
1,574	*	Quicksilver Resources, Inc		57,939
3,443		Range Resources Corp		93,615
2,788		Rowan Cos, Inc		99,225
542	*	SEACOR Holdings, Inc		44,498
4,242	*	Southwestern Energy Co		132,181
1,416		St. Mary Land & Exploration Co		56,994
1,997	*	Superior Energy Services		67,698
1,809	*	Tetra Technologies, Inc		54,795
1,529		Tidewater, Inc		75,227
1,549		Todco		63,277
1,174	*	Unit Corp		66,789
450		W&T Offshore, Inc		17,501
		TOTAL OIL AND GAS EXTRACTION		3,634,177
PAPER AND ALLIED PRODUCTS - 0.53%
2,730		Bemis Co		83,593
4,648		MeadWestvaco Corp		129,819
1,771		Packaging Corp of America		38,997
6,190	*	Smurfit-Stone Container Corp		67,719
2,580		Sonoco Products Co		81,657
2,888		Temple-Inland, Inc		123,809
		TOTAL PAPER AND ALLIED PRODUCTS		525,594

208

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
PERSONAL SERVICES - 0.46%
3,636		Cintas Corp	$	144,567
8,360		H&R Block, Inc		199,470
7,810		Service Corp International		63,573
1,132		Weight Watchers International, Inc		46,287
		TOTAL PERSONAL SERVICES		453,897
PETROLEUM AND COAL PRODUCTS - 1.64%
1,639		Ashland, Inc		109,321
2,870		Frontier Oil Corp		92,988
6,045		Hess Corp		319,478
1,216		Holly Corp		58,611
5,798		Kerr-McGee Corp		402,091
4,676		Murphy Oil Corp		261,201
3,387		Sunoco, Inc		234,685
1,760		Tesoro Corp		130,874
		TOTAL PETROLEUM AND COAL PRODUCTS		1,609,249
PRIMARY METAL INDUSTRIES - 0.88%
2,541		Allegheny Technologies, Inc		175,939
641		Carpenter Technology Corp		74,036
1,570		Hubbell, Inc (Class B)		74,811
3,403		Precision Castparts Corp		203,363
1,225		Steel Dynamics, Inc		80,532
1,883	*	Titanium Metals Corp		64,738
2,781		United States Steel Corp		195,004
		TOTAL PRIMARY METAL INDUSTRIES		868,423
PRINTING AND PUBLISHING - 1.42%
1,417		Dow Jones & Co, Inc		49,609
1,706	*	Dun & Bradstreet Corp		118,874
2,069		EW Scripps Co		89,257
5,836		Gannett Co, Inc		326,407
1,380		Harte-Hanks, Inc		35,383
1,213		John Wiley & Sons, Inc (Class A)		40,272
1,415		McClatchy Co (Class A)		56,770
850		Meredith Corp		42,109
3,424		New York Times Co (Class A)		84,025
1,329		R.H. Donnelley Corp		71,859
5,369		R.R. Donnelley & Sons Co		171,540
6,023		Tribune Co		195,326
141		Washington Post Co (Class B)		109,981
		TOTAL PRINTING AND PUBLISHING		1,391,412
RAILROAD TRANSPORTATION - 0.45%
5,570		CSX Corp		392,351
1,890	*	Kansas City Southern Industries, Inc		52,353
		TOTAL RAILROAD TRANSPORTATION		444,704
REAL ESTATE - 0.37%
4,690	*	CB Richard Ellis Group, Inc		116,781
1,702		Forest City Enterprises, Inc (Class A)		84,947
906		Jones Lang LaSalle, Inc		79,320
1,868		St. Joe Co		86,937
		TOTAL REAL ESTATE		367,985

209

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.38%
4,403	*	Goodyear Tire & Rubber Co	$	48,873
1,214	*	Jarden Corp		36,966
7,085		Newell Rubbermaid, Inc		183,006
2,070		Sealed Air Corp		107,806
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		376,651
SECURITY AND COMMODITY BROKERS - 2.56%
1,988		A.G. Edwards, Inc		109,976
5,398		Ameriprise Financial, Inc		241,129
511		BlackRock, Inc		71,116
1,333	*	Cbot Holdings, Inc		159,413
10,803	*	E*Trade Financial Corp		246,524
3,055		Eaton Vance Corp		76,253
2,190		Federated Investors, Inc (Class B)		68,985
517	*	IntercontinentalExchange, Inc		29,955
1,098	*	Investment Technology Group, Inc		55,844
5,330		Janus Capital Group, Inc		95,407
2,992		Jefferies Group, Inc		88,653
3,220		Legg Mason, Inc		320,454
2,395	*	Nasdaq Stock Market, Inc		71,611
1,928		Nuveen Investments, Inc		83,000
3,946	*	NYSE Group, Inc		270,222
2,465		Raymond James Financial, Inc		74,616
1,593		SEI Investments Co		77,866
6,590		T Rowe Price Group, Inc		249,168
8,029		TD Ameritrade Holding Corp		118,909
		TOTAL SECURITY AND COMMODITY BROKERS		2,509,101
SPECIAL TRADE CONTRACTORS - 0.05%
2,765	*	Quanta Services, Inc		47,917
		TOTAL SPECIAL TRADE CONTRACTORS		47,917
STONE, CLAY, AND GLASS PRODUCTS - 0.27%
1,274		Eagle Materials, Inc		60,515
4,192		Gentex Corp		58,688
4,026	*	Owens-Illinois, Inc		67,476
1,015	b*	USG Corp		74,024
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		260,703
TOBACCO PRODUCTS - 0.31%
2,329		Loews Corp (Carolina Group)		119,641
4,141		UST, Inc		187,132
		TOTAL TOBACCO PRODUCTS		306,773
TRANSPORTATION BY AIR - 0.70%
5,344	*	AMR Corp		135,844
2,224	*	Continental Airlines, Inc (Class B)		66,275
20,191		Southwest Airlines Co		330,527
2,489	*	UAL Corp		77,209
1,542	*	US Airways Group, Inc		77,933
		TOTAL TRANSPORTATION BY AIR		687,788

210

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION EQUIPMENT - 2.75%
757	*	Armor Holdings, Inc	$	41,506
2,096		Autoliv, Inc		118,571
2,425		Brunswick Corp		80,631
45,602		Ford Motor Co		316,022
4,421		Genuine Parts Co		184,179
3,080		Goodrich Corp		124,093
6,716		Harley-Davidson, Inc		368,641
1,069		Harsco Corp		83,339
4,668		ITT Industries, Inc		231,066
2,694		JLG Industries, Inc		60,615
1,140		Martin Marietta Materials, Inc		103,911
1,840		Oshkosh Truck Corp		87,437
4,250		Paccar, Inc		350,115
3,660	*	Pactiv Corp		90,585
3,261		Textron, Inc		300,599
884		Thor Industries, Inc		42,830
1,998		Trinity Industries, Inc		80,719
1,234	*	TRW Automotive Holdings Corp		33,664
		TOTAL TRANSPORTATION EQUIPMENT		2,698,523
TRANSPORTATION SERVICES - 0.68%
4,476		CH Robinson Worldwide, Inc		238,571
5,451		Expeditors International Washington, Inc		305,311
1,105		GATX Corp		46,963
3,300		Sabre Holdings Corp		72,600
		TOTAL TRANSPORTATION SERVICES		663,445
TRUCKING AND WAREHOUSING - 0.33%
1,361		Con-way, Inc		78,843
2,836		J.B. Hunt Transport Services, Inc		70,645
1,462		Landstar System, Inc		69,050
1,326	*	Swift Transportation Co, Inc		42,114
1,526	*	YRC Worldwide, Inc		64,260
		TOTAL TRUCKING AND WAREHOUSING		324,912
WATER TRANSPORTATION - 0.15%
1,058		Alexander & Baldwin, Inc		46,838
1,275	*	Kirby Corp		50,363
798		Overseas Shipholding Group, Inc		47,202
		TOTAL WATER TRANSPORTATION		144,403
WHOLESALE TRADE-DURABLE GOODS - 1.08%
2,220		Adesa, Inc		49,373
3,008	*	Arrow Electronics, Inc		96,858
1,440		BorgWarner, Inc		93,744
2,886	*	Cytyc Corp		73,189
3,426	*	Ingram Micro, Inc (Class A)		62,113
3,034		Omnicare, Inc		143,872
3,603	*	Patterson Cos, Inc		125,853
1,323		Pool Corp		57,722
822		Reliance Steel & Aluminum Co		68,185
1,459	*	Tech Data Corp		55,894
1,974		W.W. Grainger, Inc		148,504

211

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,224	*	WESCO International, Inc	$	84,456
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,059,763
WHOLESALE TRADE-NONDURABLE GOODS - 0.89%
1,641		Airgas, Inc		61,127
1,493		Brown-Forman Corp (Class B)		106,675
3,495	*	Dean Foods Co		129,979
3,360	*	Endo Pharmaceuticals Holdings, Inc		110,813
2,261	*	Henry Schein, Inc		105,657
11,550		Safeway, Inc		300,300
897	*	Tractor Supply Co		49,577
257		Valhi, Inc		6,309
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		870,437
		TOTAL COMMON STOCKS		98,459,407
		(Cost $79,321,244)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.25%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.25%
$     240,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		240,000
		TOTAL SHORT-TERM INVESTMENTS		240,000
		(Cost $239,935)
		TOTAL PORTFOLIO - 100.55%		98,699,407
		(Cost $79,561,179)
		OTHER ASSETS & LIABILITIES, NET - (0.55%)		(538,674	)
		NET ASSETS - 100.00%	$	98,160,733
	*	Non-income producing
	b	In bankruptcy
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

212

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.27%
AMUSEMENT AND RECREATION SERVICES - 0.91%
7,190	*	Bally Technologies, Inc	$	118,419
1,350	*	Bally Total Fitness Holding Corp		9,153
3,178	*	Century Casinos, Inc		34,036
2,059		Dover Downs Gaming & Entertainment, Inc		40,439
724	*	Leapfrog Enterprises, Inc		7,312
4,759	*	Life Time Fitness, Inc		220,199
2,618	*	Live Nation, Inc		53,302
5,712	*	Marvel Entertainment, Inc		114,240
995	*	MTR Gaming Group, Inc		9,333
4,657	*	Pinnacle Entertainment, Inc		142,737
4,207	*	WMS Industries, Inc		115,230
3,350		World Wrestling Entertainment, Inc		56,582
		TOTAL AMUSEMENT AND RECREATION SERVICES		920,982
APPAREL AND ACCESSORY STORES - 2.46%
8,574	*	Aeropostale, Inc		247,703
3,686		Bebe Stores, Inc		56,838
1,165		Brown Shoe Co, Inc		39,703
1,313		Buckle, Inc		54,975
1,972	*	Cache, Inc		34,194
7,572	*	Carter's, Inc		200,128
4,818	*	Casual Male Retail Group, Inc		48,421
4,757		Cato Corp (Class A)		122,968
2,408	*	Charlotte Russe Holding, Inc		57,648
9,707	*	Charming Shoppes, Inc		109,107
3,540	*	Children's Place Retail Stores, Inc		212,577
5,581		Christopher & Banks Corp		161,849
989	*	Citi Trends, Inc		42,220
744		DEB Shops, Inc		17,938
7,204	*	Dress Barn, Inc		182,621
2,534	*	DSW, Inc		92,288
6,851	*	HOT Topic, Inc		78,855
2,806	*	JOS A Bank Clothiers, Inc		67,232
3,318	*	New York & Co, Inc		32,417
11,457	*	Pacific Sunwear Of California, Inc		205,424
1,303	*	Payless Shoesource, Inc		35,403
10,583	*	The Wet Seal, Inc		51,645
5,263	*	Too, Inc		202,047
3,255	*	Under Armour, Inc		138,728
		TOTAL APPAREL AND ACCESSORY STORES		2,492,929
APPAREL AND OTHER TEXTILE PRODUCTS - 0.65%
4,820	v*	DHB Industries, Inc		9,254
3,281	*	Guess ?, Inc		136,982
5,210	*	Gymboree Corp		181,100

213

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,883	*	Maidenform Brands, Inc	$	23,217
4,355		Phillips-Van Heusen Corp		166,187
3,852	*	Quiksilver, Inc		46,917
2,062	*	True Religion Apparel, Inc		36,497
3,148	*	Warnaco Group, Inc		58,805
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		658,959
AUTO REPAIR, SERVICES AND PARKING - 0.42%
1,447	*	Amerco, Inc		145,655
2,586	*	Midas, Inc		47,582
1,852		Monro Muffler, Inc		60,301
757	*	Standard Parking Corp		20,500
5,288	*	Wright Express Corp		151,977
		TOTAL AUTO REPAIR, SERVICES AND PARKING		426,015
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.07%
880	*	America's Car-Mart, Inc		17,873
3,788	*	CSK Auto Corp		45,342
218	*	MarineMax, Inc		5,718
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		68,933
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.06%
2,357	*	Builders FirstSource, Inc		47,989
256	*	Central Garden & Pet Co		11,021
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		59,010
BUSINESS SERVICES - 14.12%
7,587	*	24/7 Real Media, Inc		66,614
1,955	*	3D Systems Corp		39,276
6,821		Aaron Rents, Inc		183,348
4,359	*	Acacia Research (Acacia Technologies)		61,288
2,105	*	Access Integrated Technologies, Inc		20,650
7,185	*	Actuate Corp		29,027
3,576		Administaff, Inc		128,057
3,388	*	Advent Software, Inc		122,205
4,903		Advo, Inc		120,663
1,450	*	Agile Software Corp		9,193
321	*	Altiris, Inc		5,791
4,091	*	American Reprographics Co		148,299
4,751	*	AMN Healthcare Services, Inc		96,445
2,570	*	Ansoft Corp		52,634
4,853	*	Ansys, Inc		232,070
11,922	*	aQuantive, Inc		301,984
3,554		Arbitron, Inc		136,225
17,437	*	Art Technology Group, Inc		51,962
1,918	*	Asset Acceptance Capital Corp		37,976
6,072	*	At Road, Inc		33,517
3,667	*	Audible, Inc		33,333
860	*	Avocent Corp		22,575
1,566	*	Bankrate, Inc		59,132
1,090	*	Barrett Business Services		20,002
2,504	*	BearingPoint, Inc		20,958
4,378	*	BISYS Group, Inc		59,979
5,526		Blackbaud, Inc		125,440

214

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,343	*	Blackboard, Inc	$	125,773
2,268	*	Blue Coat Systems, Inc		38,238
314	*	Bottomline Technologies, Inc		2,556
4,144		Brady Corp (Class A)		152,665
3,950	*	CACI International, Inc (Class A)		230,404
4,193		Catalina Marketing Corp		119,333
4,168	*	CBIZ, Inc		30,885
12,415	*	Chordiant Software, Inc		37,617
705	*	Ciber, Inc		4,646
1,279	*	Clayton Holdings, Inc		16,691
1,390	*	Click Commerce, Inc		27,425
23,474	*	CNET Networks, Inc		187,323
6,771	*	Cogent, Inc		102,039
6,722		Cognex Corp		174,974
1,466		Computer Programs & Systems, Inc		58,581
2,456	*	COMSYS IT Partners, Inc		37,135
4,940	*	Concur Technologies, Inc		76,422
4,397	*	Convera Corp		29,548
2,628	*	CoStar Group, Inc		157,233
3,322	*	CSG Systems International, Inc		82,186
4,779	*	Cybersource Corp		55,914
1,669	*	DealerTrack Holdings, Inc		36,902
5,437	*	Digital Insight Corp		186,435
6,157	*	Digital River, Inc		248,681
7,081	*	Eclipsys Corp		128,591
2,820	*	eCollege.com, Inc		59,615
1,938	*	eFunds Corp		42,733
3,277	*	Emageon, Inc		47,811
8,584	*	Epicor Software Corp		90,390
4,479	*	Equinix, Inc		245,718
5,803	*	FalconStor Software, Inc		40,447
1,269	*	Filenet Corp		34,174
945	*	First Advantage Corp		21,981
1,617	*	Forrester Research, Inc		45,244
8,905	*	Gartner, Inc (Class A)		126,451
617	*	Gerber Scientific, Inc		8,027
4,008		Gevity HR, Inc		106,412
4,182	*	Global Cash Access, Inc		65,365
1,795	*	H&E Equipment Services, Inc		52,863
4,143		Healthcare Services Group		86,796
2,178	*	Heartland Payment Systems, Inc		60,723
2,392	*	Heidrick & Struggles International, Inc		80,945
3,232	*	Hudson Highland Group, Inc		34,873
8,407	*	Hypercom Corp		78,605
4,500	*	Hyperion Solutions Corp		124,200
1,475	*	i2 Technologies, Inc		18,688
1,062	*	ICT Group, Inc		26,051
3,133	*	iGate Corp		20,020
3,243	*	IHS, Inc		96,090
2,241	*	Infocrossing, Inc		25,884
13,669	*	Informatica Corp		179,884
2,688	*	Infospace, Inc		60,937
5,110		infoUSA, Inc		52,684
1,009	*	Innovative Solutions & Support, Inc		14,187

215

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,622		Integral Systems, Inc	$	43,518
3,916	*	Intergraph Corp		123,315
47,934	*	Internap Network Services Corp		50,331
695	*	Internet Security Systems, Inc		13,101
3,225	*	Interwoven, Inc		27,671
4,443	*	inVentiv Health, Inc		127,870
7,284	*	Ipass, Inc		40,790
12,433		Jack Henry & Associates, Inc		244,433
803	*	JDA Software Group, Inc		11,266
3,205	*	Jupitermedia Corp		41,665
5,161	*	Kanbay International, Inc		75,041
3,683	*	Keane, Inc		46,038
1,108		Kelly Services, Inc (Class A)		30,104
2,455	*	Kenexa Corp		78,192
4,554	*	Kforce, Inc		70,541
11,113	*	KFX, Inc		169,807
2,279	*	Knot, Inc		47,699
5,305	*	Korn/Ferry International		103,925
4,954	*	Kronos, Inc		179,384
8,539	*	Labor Ready, Inc		193,408
9,348	*	Lionbridge Technologies		51,694
1,215	*	Liquidity Services, Inc		18,918
2,742	*	LoJack Corp		51,714
495	*	Manhattan Associates, Inc		10,044
2,218	*	Mantech International Corp (Class A)		68,447
2,550	*	Mapinfo Corp		33,278
3,399	*	Marchex, Inc		55,846
627	*	Marlin Business Services, Inc		14,145
1,589	*	MicroStrategy, Inc		154,959
5,588	*	Midway Games, Inc		45,207
16,250	*	Move, Inc		89,050
6,143	*	MPS Group, Inc		92,514
3,158	*	MRO Software, Inc		63,381
2,878	*	Neoware, Inc		35,371
1,596	*	Ness Technologies, Inc		17,157
6,253	*	NetFlix, Inc		170,144
3,304	*	Netscout Systems, Inc		29,472
5,710	*	NIC, Inc		41,283
19,666	*	Nuance Communications, Inc		197,840
4,083	*	On Assignment, Inc		37,523
3,455	*	Online Resources Corp		35,725
3,179	*	Open Solutions, Inc		84,593
1,827	*	Opnet Technologies, Inc		23,678
12,815	*	Opsware, Inc		105,596
5,042	*	Packeteer, Inc		57,176
8,815	*	Parametric Technology Corp		112,039
3,297	*	PDF Solutions, Inc		40,916
2,897	*	PeopleSupport, Inc		38,994
2,752	*	Perficient, Inc		34,015
5,317	*	Phase Forward, Inc		61,252
2,484	*	Portfolio Recovery Associates, Inc		113,519
2,235	*	PRA International		49,773
1,713		QAD, Inc		13,276
2,570		Quality Systems, Inc		94,627

216

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
7,411	*	Quest Software, Inc	$	104,050
3,840	*	Radiant Systems, Inc		40,589
1,083	*	Radisys Corp		23,783
12,981	*	RealNetworks, Inc		138,897
8,684	*	Redback Networks, Inc		159,265
1,100		Renaissance Learning, Inc		14,905
3,104	*	Rewards Network, Inc		25,360
2,351	*	RightNow Technologies, Inc		39,215
4,428		Rollins, Inc		86,966
1,877	*	RSA Security, Inc		51,036
12,048	*	Sapient Corp		63,854
483	*	Secure Computing Corp		4,154
942	*	SI International, Inc		28,882
7,280	*	Sitel Corp		28,538
3,149	*	Smith Micro Software, Inc		50,447
4,045	*	Sohu.com, Inc		104,321
39,543	*	Sonus Networks, Inc		195,738
9,466	*	Sotheby's Holdings, Inc (Class A)		248,483
4,928	*	Spherion Corp		44,943
3,028	*	SPSS, Inc		97,320
5,985	*	SRA International, Inc (Class A)		159,381
1,080	*	SSA Global Technologies, Inc		20,930
2,417		Stellent, Inc		23,082
1,650	*	Stratasys, Inc		48,609
744	*	Sybase, Inc		14,434
4,579	*	SYKES Enterprises, Inc		73,997
1,220		Syntel, Inc		24,961
590	*	Take-Two Interactive Software, Inc		6,289
245	*	TAL International Group, Inc		5,905
2,128	*	Taleo Corp		25,089
5,023		Talx Corp		109,853
5,118	*	TeleTech Holdings, Inc		64,794
2,878		TheStreet.com, Inc		36,896
8,075	*	THQ, Inc		174,420
4,426	*	TIBCO Software, Inc		31,203
975	*	TNS, Inc		20,173
4,023	*	TradeStation Group, Inc		50,971
5,886	*	Transaction Systems Architects, Inc		245,387
486	*	Travelzoo, Inc		14,745
6,620	*	Trizetto Group, Inc		97,910
3,681	*	Ultimate Software Group, Inc		70,528
9,778	*	VA Software Corp		37,939
16,051	*	Valueclick, Inc		246,383
3,322	*	Vasco Data Security International		27,739
2,053	*	Verint Systems, Inc		59,927
1,610	*	Vignette Corp		23,474
6,552	*	WebEx Communications, Inc		232,858
2,368	*	webMethods, Inc		23,372
7,528	*	Websense, Inc		154,625
2,737	*	WebSideStory, Inc		33,391
11,806	*	Wind River Systems, Inc		105,073
5,247	*	Witness Systems, Inc		105,832
		TOTAL BUSINESS SERVICES		14,296,819

217

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
CHEMICALS AND ALLIED PRODUCTS - 8.85%
3,790	*	Acadia Pharmaceuticals, Inc	$	31,988
1,220	*	Adams Respiratory Therapeutics, Inc		54,436
2,355	*	Adeza Biomedical Corp		33,017
7,085	*	Adolor Corp		177,196
1,250	*	Advanced Magnetics, Inc		37,775
7,068	*	ADVENTRX Pharmaceuticals, Inc		22,406
1,470	*	Albany Molecular Research, Inc		15,700
4,941	*	Alexion Pharmaceuticals, Inc		178,469
13,932	*	Alkermes, Inc		263,593
5,008	*	Alnylam Pharmaceuticals, Inc		75,521
1,407		Alpharma, Inc (Class A)		33,824
6,992	*	American Oriental Bioengineering, Inc		38,666
2,773		American Vanguard Corp		42,926
2,832	*	Anadys Pharmaceuticals, Inc		8,269
9,333	*	Andrx Corp		216,432
284		Arch Chemicals, Inc		10,238
5,140	*	Arena Pharmaceuticals, Inc		59,521
6,121	*	Array Biopharma, Inc		52,641
5,270	*	Atherogenics, Inc		68,773
3,397	*	Auxilium Pharmaceuticals, Inc		26,429
4,771	*	AVANIR Pharmaceuticals		32,634
7,859	*	AVI BioPharma, Inc		29,471
1,883		Balchem Corp		42,367
633	*	Bentley Pharmaceuticals, Inc		6,938
3,596	*	BioCryst Pharmaceuticals, Inc		51,531
6,216	*	Bioenvision, Inc		33,131
13,367	*	BioMarin Pharmaceuticals, Inc		192,084
1,519	*	Caraco Pharmaceutical Laboratories Ltd		13,899
7,149	*	Cell Genesys, Inc		35,888
1,871	*	Chattem, Inc		56,822
2,805	*	Coley Pharmaceutical Group, Inc		32,398
3,852	*	Combinatorx, Inc		33,859
5,280	*	Connetics Corp		62,093
4,237	*	Conor Medsystems, Inc		116,899
8,503	*	Cubist Pharmaceuticals, Inc		214,106
3,368	*	Cypress Bioscience, Inc		20,679
4,017	*	Cytokinetics, Inc		25,267
3,881		Diagnostic Products Corp		225,758
2,747	*	Digene Corp		106,419
8,690	*	Durect Corp		33,630
3,173	*	Emisphere Technologies, Inc		27,066
9,080	*	Encysive Pharmaceuticals, Inc		62,924
6,853	*	Enzon Pharmaceuticals, Inc		51,672
3,363	*	Genitope Corp		21,254
20,917	*	Genta, Inc		34,304
619		Georgia Gulf Corp		15,487
5,298	*	Geron Corp		36,556
1,772	*	GTx, Inc		16,125
4,495	*	Hana Biosciences, Inc		40,770
9,741	*	Hercules, Inc		148,648
1,575	*	Hi-Tech Pharmacal Co, Inc		26,098
20,316	*	Human Genome Sciences, Inc		217,381
3,868	*	Idenix Pharmaceuticals, Inc		36,359

218

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
10,737	*	Immucor, Inc	$	206,473
6,338	*	Indevus Pharmaceuticals, Inc		34,669
684		Inter Parfums, Inc		11,778
3,966	*	InterMune, Inc		65,241
196	*	Inverness Medical Innovations, Inc		5,533
517		Kronos Worldwide, Inc		15,122
6,042	*	KV Pharmaceutical Co (Class A)		112,744
4,382		MacDermid, Inc		126,202
2,425		Mannatech, Inc		30,579
3,633	*	MannKind Corp		77,419
3,328	*	Martek Biosciences Corp		96,346
18,990	*	Medarex, Inc		182,494
7,690	*	Medicines Co		150,339
8,569		Medicis Pharmaceutical Corp (Class A)		205,656
1,820	*	Medifast, Inc		32,523
3,290		Meridian Bioscience, Inc		82,085
3,214	*	Metabasis Therapeutics, Inc		24,523
12,233	*	MGI Pharma, Inc		263,009
3,385	*	Momenta Pharmaceuticals, Inc		43,023
6,649	*	Myogen, Inc		192,821
3,460	*	Nastech Pharmaceutical Co, Inc		54,668
1,005	*	NBTY, Inc		24,030
4,782	*	Neurocrine Biosciences, Inc		50,689
2,115	*	New River Pharmaceuticals, Inc		60,278
2,697		NewMarket Corp		132,315
700		NL Industries, Inc		7,525
1,544	*	Northfield Laboratories, Inc		15,270
9,623	*	Novavax, Inc		48,500
3,690	*	Noven Pharmaceuticals, Inc		66,051
5,107	*	NPS Pharmaceuticals, Inc		24,922
5,817	*	Nuvelo, Inc		96,853
1,165		Olin Corp		20,888
3,122	*	Omnova Solutions, Inc		17,733
6,403	*	Onyx Pharmaceuticals, Inc		107,762
7,080	*	OraSure Technologies, Inc		67,402
8,913	*	OSI Pharmaceuticals, Inc		293,772
3,361	*	Pacific Ethanol, Inc		77,706
5,565	*	Pain Therapeutics, Inc		46,468
7,893	*	Panacos Pharmaceuticals, Inc		43,569
3,650	*	Par Pharmaceutical Cos, Inc		67,379
4,253	*	Parexel International Corp		122,699
2,094	*	Parlux Fragrances, Inc		20,291
3,578	*	Penwest Pharmaceuticals Co		78,108
27,463	*	Peregrine Pharmaceuticals, Inc		43,666
856		Perrigo Co		13,782
2,938	*	PetMed Express, Inc		32,230
2,785	*	Pharmion Corp		47,429
1,662	*	Pioneer Cos, Inc		45,339
3,850	*	Pozen, Inc		27,104
3,489	*	Progenics Pharmaceuticals, Inc		83,945
4,708	*	Quidel Corp		44,726
2,524	*	Renovis, Inc		38,642
7,071	*	Salix Pharmaceuticals Ltd		86,973
7,202	*	Santarus, Inc		47,893

219

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,065	*	Sciele Pharma, Inc	$	94,267
4,880	*	Serologicals Corp		153,427
6,301	*	Sirna Therapeutics, Inc		35,916
3,681	*	Solexa, Inc		31,289
930	*	Somaxon Pharmaceuticals, Inc		14,517
6,990	*	SuperGen, Inc		25,374
2,480	*	SurModics, Inc		89,553
3,813	*	Tanox, Inc		52,734
4,802		UAP Holding Corp		104,732
3,691	*	United Therapeutics Corp		213,229
1,568	*	USANA Health Sciences, Inc		59,427
14,515		Valeant Pharmaceuticals International		245,594
4,477	*	Viropharma, Inc		38,592
900	*	Visicu, Inc		15,885
5,108	*	WR Grace & Co		59,764
2,572	*	Xenoport, Inc		46,579
5,877	*	Zymogenetics, Inc		111,487
		TOTAL CHEMICALS AND ALLIED PRODUCTS		8,955,889
COAL MINING - 0.44%
8,098	*	Alpha Natural Resources, Inc		158,883
14,872	*	International Coal Group, Inc		106,930
2,608	*	James River Coal Co		69,086
1,200		Penn Virginia Corp		83,856
1,053	*	Westmoreland Coal Co		24,977
		TOTAL COAL MINING		443,732
COMMUNICATIONS - 2.09%
2,514		Anixter International, Inc		119,314
774		Atlantic Tele-Network, Inc		16,122
7,875	*	Brightpoint, Inc		106,549
2,577	*	Cbeyond Communications, Inc		56,204
3,551		Centennial Communications Corp		18,465
1,817		Commonwealth Telephone Enterprises, Inc		60,252
2,165	*	Crown Media Holdings, Inc (Class A)		8,920
1,310	*	Cumulus Media, Inc (Class A)		13,978
23,256	*	Dobson Communications Corp (Class A)		179,769
1,646	*	Emmis Communications Corp (Class A)		25,743
5,781	*	Entravision Communications Corp (Class A)		49,543
1,125	*	Eschelon Telecom, Inc		17,404
8,554	*	First Avenue Networks, Inc		93,068
12,441	*	Foundry Networks, Inc		132,621
4,890	*	General Communication, Inc (Class A)		60,245
3,731	*	InPhonic, Inc		23,505
2,617	*	iPCS, Inc		126,401
7,782	*	j2 Global Communications, Inc		242,954
2,995	*	Lightbridge, Inc		38,785
2,584	*	Lodgenet Entertainment Corp		48,192
4,883	*	Mediacom Communications Corp		30,421
2,424		North Pittsburgh Systems, Inc		66,805
4,470	*	Novatel Wireless, Inc		46,399
1,979	*	NTELOS Holdings Corp		28,597
8,477	*	Pegasus Wireless Corp		75,784
3	v*	RCN Corp Wts		(0	)

220

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
138		Salem Communications Corp (Class A)	$	1,795
867	*	SAVVIS, Inc		25,672
200		Shenandoah Telecom Co		9,400
7,010		Sinclair Broadcast Group, Inc (Class A)		60,006
3,100	*	Spanish Broadcasting System, Inc (Class A)		15,841
3,191	*	Syniverse Holdings, Inc		46,908
6,139	*	Terremark Worldwide, Inc		22,100
12,002	*	TiVo, Inc		85,814
12,798	*	Ubiquitel, Inc		132,331
2,812	*	Vonage Holdings Corp		24,155
3,712	*	Wireless Facilities, Inc		10,208
		TOTAL COMMUNICATIONS		2,120,270
DEPOSITORY INSTITUTIONS - 3.63%
198		Arrow Financial Corp		5,431
241	*	Bancorp, Inc		6,027
1,800		Bank of the Ozarks, Inc		59,940
156		Camden National Corp		6,224
586		Capital Corp of the West		18,752
85		Capitol Bancorp Ltd		3,311
2,795		Cardinal Financial Corp		32,478
3,456		Cascade Bancorp		98,531
607		Cass Information Systems, Inc		29,555
651		Cathay General Bancorp		23,683
1,331		Center Financial Corp		31,465
693		Charter Financial Corp		27,346
381		City Bank		17,777
1,666		Coastal Financial Corp		21,725
2,390		CoBiz, Inc		53,823
464		Columbia Bancorp		11,632
1,830		Commercial Capital Bancorp, Inc		28,823
107	*	Community Bancorp		3,326
663		Community Bancorp, Inc		28,052
6,138		CVB Financial Corp		96,121
1,508	*	Dollar Financial Corp		27,144
1,285		Enterprise Financial Services Corp		32,703
5,493	*	Euronet Worldwide, Inc		210,766
1,022		Fidelity Bankshares, Inc		32,520
1,804		First Busey Corp (Class A)		36,928
349	*	First Regional Bancorp		30,712
387		First Republic Bank		17,725
1,256		First South Bancorp, Inc		42,993
259		First State Bancorporation		6,159
5,286		Fremont General Corp		98,108
1,028		Frontier Financial Corp		34,942
730		Glacier Bancorp, Inc		21,367
1,879		Hancock Holding Co		105,224
416		Harbor Florida Bancshares, Inc		15,450
1,106		Heritage Commerce Corp		27,418
566		International Bancshares Corp		15,554
186	*	Intervest Bancshares Corp		7,533
616	*	Investors Bancorp, Inc		8,347
321		Lakeland Financial Corp		7,797
314		Macatawa Bank Corp		7,344

221

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
275		MB Financial, Inc	$	9,724
336		Mercantile Bank Corp		13,390
453		Midwest Banc Holdings, Inc		10,079
2,017		Nara Bancorp, Inc		37,819
7,520	*	Net 1 UEPS Technologies, Inc		205,672
8,099		NewAlliance Bancshares, Inc		115,897
261	*	Northern Empire Bancshares		6,264
269		Old Second Bancorp, Inc		8,339
704		Pacific Capital Bancorp		21,908
919		PFF Bancorp, Inc		30,474
1,694	*	Pinnacle Financial Partners, Inc		51,548
779		Placer Sierra Bancshares		18,065
638		Preferred Bank		34,203
1,304		Premierwest Bancorp		18,817
2,765		PrivateBancorp, Inc		114,499
333	*	QC Holdings, Inc		4,499
503		S.Y. Bancorp, Inc		13,822
1,370		Seacoast Banking Corp of Florida		36,483
858		Sierra Bancorp		22,497
4,568	*	Signature Bank		147,912
1,210		Smithtown Bancorp, Inc		29,234
1,024		Sound Federal Bancorp, Inc		21,289
266		Southside Bancshares, Inc		5,937
1,678		Suffolk Bancorp		54,955
577		Summit Bancshares, Inc		12,238
2,397	*	Superior Bancorp		26,367
5,525	*	SVB Financial Group		251,167
3,581	*	Texas Capital Bancshares, Inc		83,437
871		Texas Regional Bancshares, Inc (Class A)		33,028
501		Trico Bancshares		13,717
11,774		Trustco Bank Corp NY		129,749
11,532		UCBH Holdings, Inc		190,739
660		United Community Banks, Inc		20,090
1,163		United Security Bancshares		24,877
683		USB Holding Co, Inc		15,368
1,338		Vineyard National Bancorp		35,992
2,265	*	Virginia Commerce Bancorp		54,134
252	*	Wauwatosa Holdings, Inc		4,299
2,350		West Bancorporation, Inc		43,882
2,095		Westamerica Bancorporation		102,592
2,016	*	Western Alliance Bancorp		70,116
359		Westfield Financial, Inc		10,411
2,198		Wilshire Bancorp, Inc		39,608
1,551		Wintrust Financial Corp		78,868
237		Yardville National Bancorp		8,468
		TOTAL DEPOSITORY INSTITUTIONS		3,673,229
EATING AND DRINKING PLACES - 2.15%
9,629	*	Applebees International, Inc		185,069
2,318	*	BJ's Restaurants, Inc		51,784
1,040		Buffalo Wild Wings, Inc		39,842
3,089	*	California Pizza Kitchen, Inc		84,886
2,975	*	CEC Entertainment, Inc		95,557
1,233	*	Chipotle Mexican Grill, Inc		75,151

222

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
9,260		CKE Restaurants, Inc	$	153,809
5,381	*	Cosi, Inc		33,524
14,406	*	Denny's Corp		53,158
750	*	IHOP Corp		36,060
4,262	*	Krispy Kreme Doughnuts, Inc		34,693
1,650		McCormick & Schmick's Seafood Restaurants, Inc		39,270
643	*	Morton's Restaurant Group, Inc		9,851
2,441	*	Papa John's International, Inc		81,041
4,120	*	PF Chang's China Bistro, Inc		156,642
4,602	*	Rare Hospitality International, Inc		132,353
2,577	*	Red Robin Gourmet Burgers, Inc		109,677
8,553	*	Ruby Tuesday, Inc		208,779
2,731		Ruth's Chris Steak House, Inc		55,767
13,386	*	Sonic Corp		278,295
8,130	*	Texas Roadhouse, Inc (Class A)		109,918
9,616		Triarc Cos (Class B)		150,298
		TOTAL EATING AND DRINKING PLACES		2,175,424
EDUCATIONAL SERVICES - 0.70%
13,301	*	Corinthian Colleges, Inc		191,002
9,545	*	DeVry, Inc		209,704
600	*	Lincoln Educational Services Corp		10,254
2,274		Strayer Education, Inc		220,851
3,575	*	Universal Technical Institute, Inc		78,721
		TOTAL EDUCATIONAL SERVICES		710,532
ELECTRIC, GAS, AND SANITARY SERVICES - 0.62%
2,440		American Ecology Corp		64,660
3,203	*	Casella Waste Systems, Inc (Class A)		41,927
2,501	*	Clean Harbors, Inc		100,815
1,380		Crosstex Energy, Inc		131,210
1,832		ITC Holdings Corp		48,695
1,145		Markwest Hydrocarbon, Inc		28,339
1,211		Ormat Technologies, Inc		46,200
2,455	*	Pike Electric Corp		47,283
11,325	*	Plug Power, Inc		52,888
1,816	*	Waste Connections, Inc		66,102
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		628,119
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 9.44%
7,032		Acuity Brands, Inc		273,615
6,785		Adtran, Inc		152,188
5,762	*	Advanced Analogic Technologies, Inc		60,386
4,380	*	Advanced Energy Industries, Inc		57,991
1,770	*	Aeroflex, Inc		20,656
5,190	*	American Superconductor Corp		45,828
3,792	*	AMIS Holdings, Inc		37,920
16,019	*	Amkor Technology, Inc		151,540
7,384	*	Anadigics, Inc		49,620
9,048	*	Arris Group, Inc		118,710
8,082	*	Atheros Communications, Inc		153,235
4,144	*	ATMI, Inc		102,025
25,757	*	Avanex Corp		45,332
2,601		Baldor Electric Co		81,385

223

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,202	*	Benchmark Electronics, Inc	$	53,112
28,197	*	Brocade Communications Systems, Inc		173,130
16,092	*	Capstone Turbine Corp		36,690
783	*	Carrier Access Corp		6,475
4,782	*	C-COR, Inc		36,917
4,202	*	Ceradyne, Inc		207,957
4,245	*	China BAK Battery, Inc		36,125
2,093	*	Color Kinetics, Inc		39,579
3,608	*	Comtech Telecommunications Corp		105,606
66,239	*	Conexant Systems, Inc		165,598
1,105	*	CPI International, Inc		16,023
2,815		CTS Corp		41,915
3,095	*	Diodes, Inc		128,257
1,150	*	Directed Electronics, Inc		15,088
726	*	DSP Group, Inc		18,041
2,194	*	DTS, Inc		42,739
6,135	*	Emcore Corp		58,896
1,612	*	EMS Technologies, Inc		28,968
6,114	*	Energy Conversion Devices, Inc		222,733
10,467	*	Evergreen Solar, Inc		135,862
2,095	*	Exar Corp		27,801
35,645	*	Finisar Corp		116,559
3,493		Franklin Electric Co, Inc		180,378
836	*	FuelCell Energy, Inc		8,009
38,516	*	Gemstar-TV Guide International, Inc		135,576
3,885	*	Genlyte Group, Inc		281,391
7,086	*	GrafTech International Ltd		41,099
866	*	Greatbatch, Inc		20,438
10,855	*	Harmonic, Inc		48,630
14,618	*	Hexcel Corp		229,649
2,036	*	Hittite Microwave Corp		73,622
1,733	*	ID Systems, Inc		30,726
3,217	*	Ikanos Communications, Inc		48,866
8,530	*	Interdigital Communications Corp		297,782
6,811	*	International DisplayWorks, Inc		35,417
601		Inter-Tel, Inc		12,657
6,350	*	InterVoice, Inc		45,212
1,787	*	iRobot Corp		44,461
3,939	*	IXYS Corp		37,814
2,173	*	Lamson & Sessions Co		61,626
1,732	*	Littelfuse, Inc		59,546
7,597	*	Mattson Technology, Inc		74,223
2,248	*	Maxwell Technologies, Inc		44,128
3,219	*	Medis Technologies Ltd		65,281
930	*	Mercury Computer Systems, Inc		14,313
1,631	*	Metrologic Instruments, Inc		24,481
11,367	*	Micrel, Inc		113,784
11,076	*	Microsemi Corp		270,033
8,350	*	Microtune, Inc		52,271
17,241	*	Mindspeed Technologies, Inc		41,551
3,965	*	MIPS Technologies, Inc		24,068
4,498	*	Mobility Electronics, Inc		32,655
3,048	*	Monolithic Power Systems, Inc		36,058
3,533	*	MoSys, Inc		27,628

224

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,305	*	Multi-Fineline Electronix, Inc	$	43,313
2,494	*	Netlogic Microsystems, Inc		80,431
8,277	*	Omnivision Technologies, Inc		174,810
22,444	*	ON Semiconductor Corp		131,971
14,594	*	Openwave Systems, Inc		168,415
687	*	OSI Systems, Inc		12,208
295		Park Electrochemical Corp		7,596
2,952	*	Parkervision, Inc		26,863
1,842	*	Pericom Semiconductor Corp		15,289
4,080		Plantronics, Inc		90,617
7,163	*	Plexus Corp		245,046
3,919	*	PLX Technology, Inc		47,890
6,472	*	Polycom, Inc		141,866
1,784	*	Portalplayer, Inc		17,501
4,061	*	Power Integrations, Inc		70,986
2,623	*	Power-One, Inc		17,312
2,818	*	Radyne Corp		32,069
2,430		Raven Industries, Inc		76,545
2,585		Regal-Beloit Corp		114,128
25,003	*	RF Micro Devices, Inc		149,268
2,730	*	Rogers Corp		153,808
11,522	*	Semtech Corp		166,493
12,464	*	Silicon Image, Inc		134,362
5,234	*	Silicon Storage Technology, Inc		21,250
3,889	*	Sirenza Microdevices, Inc		47,212
5,583	*	Skyworks Solutions, Inc		30,762
1,017	*	Standard Microsystems Corp		22,201
15,051	*	Stratex Networks, Inc		51,023
1,605	*	Sunpower Corp		44,972
1,878	*	Supertex, Inc		75,007
1,352	*	Symmetricom, Inc		9,559
3,915	*	Synaptics, Inc		83,781
7,798	*	Tekelec		96,305
7,098	*	Tessera Technologies, Inc		195,195
30,643	*	Transmeta Corp		49,642
19,852	*	Transwitch Corp		41,888
8,941	*	Trident Microsystems, Inc		169,700
5,691	*	TTM Technologies, Inc		82,349
2,581	*	Universal Display Corp		34,353
1,949	*	Universal Electronics, Inc		34,517
9,275	*	Utstarcom, Inc		72,252
7,732	*	Varian Semiconductor Equipment Associates, Inc		252,140
3,300	*	Viasat, Inc		84,744
3,040		Vicor Corp		50,373
2,185	*	Virage Logic Corp		20,517
2,933	*	Volterra Semiconductor Corp		44,758
8,376	*	Zhone Technologies, Inc		17,087
2,215	*	Zoltek Cos, Inc		66,206
6,756	*	Zoran Corp		164,441
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		9,558,896
ENGINEERING AND MANAGEMENT SERVICES - 3.41%
3,005	*	Advisory Board Co		144,510
6,188	*	Ariad Pharmaceuticals, Inc		27,908

225

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
449		CDI Corp	$	13,021
1,661	*	CRA International, Inc		74,978
7,054	*	CV Therapeutics, Inc		98,544
7,598	*	deCODE genetics, Inc		47,032
4,200	*	DiamondCluster International, Inc		33,264
14,019	*	Digitas, Inc		162,901
4,767	*	Diversa Corp		46,049
7,630	*	eResearch Technology, Inc		69,433
3,026	*	Essex Corp		55,739
13,051	*	Exelixis, Inc		131,163
3,380	*	First Consulting Group, Inc		29,879
2,760	*	Harris Interactive, Inc		15,732
2,725	*	Huron Consulting Group, Inc		95,620
10,226	*	ICOS Corp		224,870
7,451	*	Incyte Corp		34,275
11,421	*	Isis Pharmaceuticals, Inc		69,097
1,920	*	Kendle International, Inc		70,522
4,533	*	Keryx Biopharmaceuticals, Inc		64,369
810		Landauer, Inc		38,799
3,001	*	LECG Corp		55,428
9,546	*	Lexicon Genetics, Inc		41,907
5,247	*	Lifecell Corp		162,237
5,005	*	Luminex Corp		87,037
22,710	*	Monogram Biosciences, Inc		44,966
1,158	*	MTC Technologies, Inc		27,363
6,108	*	Myriad Genetics, Inc		154,227
6,253	*	Navigant Consulting, Inc		141,630
4,252	*	Omnicell, Inc		58,763
5,238	*	Per-Se Technologies, Inc		131,893
7,132	*	Regeneron Pharmaceuticals, Inc		91,432
21,640	*	Rentech, Inc		100,626
7,387	*	Resources Connection, Inc		184,823
1,174	*	Rigel Pharmaceuticals, Inc		11,423
4,093	*	Sangamo Biosciences, Inc		24,149
4,667	*	Senomyx, Inc		67,345
5,282	*	Symyx Technologies, Inc		127,560
1,692	*	Tejon Ranch Co		69,643
8,105	*	Telik, Inc		133,732
5,564	*	Tetra Tech, Inc		98,705
2,840	*	Trimeris, Inc		32,632
1,567		Watson Wyatt & Co Holdings		55,064
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,450,290
ENVIRONMENTAL QUALITY AND HOUSING - 0.04%
5,895	*	Home Solutions of America, Inc		36,372
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		36,372
FABRICATED METAL PRODUCTS - 1.21%
1,845		Dynamic Materials Corp		62,232
1,280		Gulf Island Fabrication, Inc		25,651
2,181		Insteel Industries, Inc		52,780
6,405	*	Jacuzzi Brands, Inc		56,364
2,082	*	Ladish Co, Inc		78,012
1,452		Lifetime Brands, Inc		31,465

226

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,232	*	Mobile Mini, Inc	$	153,088
3,495	*	Mueller Water Products, Inc		60,848
3,204	*	NCI Building Systems, Inc		170,357
2,178		Silgan Holdings, Inc		80,608
5,274		Simpson Manufacturing Co, Inc		190,128
4,571	*	Smith & Wesson Holding Corp		37,574
9,528	*	Taser International, Inc		75,366
2,622		Valmont Industries, Inc		121,897
899		Watts Water Technologies, Inc (Class A)		30,161
		TOTAL FABRICATED METAL PRODUCTS		1,226,531
FOOD AND KINDRED PRODUCTS - 0.81%
860	*	Altus Pharmaceuticals, Inc		15,867
1,110	*	Boston Beer Co, Inc (Class A)		32,512
661		Coca-Cola Bottling Co Consolidated		33,559
10,830	*	Darling International, Inc		49,060
1,835		Diamond Foods, Inc		29,488
4,444		Flowers Foods, Inc		127,276
1,054		J&J Snack Foods Corp		34,856
3,465	*	Jones Soda Co		31,185
2,696		Lancaster Colony Corp		106,411
1,871		Lance, Inc		43,070
1,494		MGP Ingredients, Inc		34,691
1,281		National Beverage Corp		18,382
2,170	*	Peet's Coffee & Tea, Inc		65,512
328	*	Ralcorp Holdings, Inc		13,950
2,249		Reddy Ice Holdings, Inc		45,767
4,869		Tootsie Roll Industries, Inc		141,834
		TOTAL FOOD AND KINDRED PRODUCTS		823,420
FOOD STORES - 0.30%
198		Arden Group, Inc (Class A)		22,408
3,254	*	Pantry, Inc		187,235
809	*	Pathmark Stores, Inc		7,613
4,439	*	Wild Oats Markets, Inc		87,004
		TOTAL FOOD STORES		304,260
FURNITURE AND FIXTURES - 1.09%
12,127	*	BE Aerospace, Inc		277,223
1,027		Ethan Allen Interiors, Inc		37,537
10,314		Herman Miller, Inc		265,792
7,484	*	Interface, Inc (Class A)		85,692
1,456		Kimball International, Inc (Class B)		28,698
1,236		Sealy Corp		16,402
8,509	*	Select Comfort Corp		195,452
7,809	*	Tempur-Pedic International, Inc		105,500
4,365	*	Williams Scotsman International, Inc		95,332
		TOTAL FURNITURE AND FIXTURES		1,107,628
FURNITURE AND HOMEFURNISHINGS STORES - 0.35%
4,091	*	Guitar Center, Inc		181,927
5,148		Knoll, Inc		94,517
4,210	*	Restoration Hardware, Inc		30,228
3,575		Tuesday Morning Corp		47,011
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		353,683

227

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
GENERAL BUILDING CONTRACTORS - 0.32%
213		Amrep Corp	$	11,570
765		Brookfield Homes Corp		25,207
373	*	Cavco Industries, Inc		16,576
2,137	*	Hovnanian Enterprises, Inc (Class A)		64,281
195		M/I Homes, Inc		6,841
3,434		McGrath RentCorp		95,500
410	*	Palm Harbor Homes, Inc		7,212
3,055	*	Perini Corp		68,738
994	*	Team, Inc		24,900
		TOTAL GENERAL BUILDING CONTRACTORS		320,825
GENERAL MERCHANDISE STORES - 0.14%
319	*	Cabela's, Inc		6,144
642		Casey's General Stores, Inc		16,056
1,015	*	Conn's, Inc		26,948
3,155	*	Retail Ventures, Inc		56,222
2,269		Stein Mart, Inc		33,581
		TOTAL GENERAL MERCHANDISE STORES		138,951
HEALTH SERVICES - 2.35%
1,869	*	Alliance Imaging, Inc		11,962
2,468	*	Amedisys, Inc		93,537
5,529	*	American Retirement Corp		181,185
2,922	*	Amsurg Corp		66,475
676	*	Apria Healthcare Group, Inc		12,776
1,521	*	Bio-Reference Labs, Inc		33,097
366	*	Corvel Corp		9,150
775	*	Cross Country Healthcare, Inc		14,097
472	*	Emeritus Corp		8,850
4,004	*	Enzo Biochem, Inc		60,380
4,946	*	Five Star Quality Care, Inc		54,752
1,952	*	Genomic Health, Inc		22,975
2,319	*	Gentiva Health Services, Inc		37,174
5,405	*	Healthways, Inc		284,519
4,107	*	Hythiam, Inc		28,626
3,185		LCA-Vision, Inc		168,518
1,718	*	LHC Group, Inc		34,223
750	*	Magellan Health Services, Inc		33,982
3,137	*	Matria Healthcare, Inc		67,195
420	*	Medcath Corp		7,913
827		National Healthcare Corp		36,843
13,934	*	Nektar Therapeutics		255,550
790	*	Nighthawk Radiology Holdings, Inc		14,173
4,377	*	Odyssey HealthCare, Inc		76,904
409		Option Care, Inc		4,900
8,289	*	Psychiatric Solutions, Inc		237,563
1,924	*	Radiation Therapy Services, Inc		51,775
3,668	*	Stereotaxis, Inc		39,578
3,625	*	Sun Healthcare Group, Inc		31,501
5,339	*	Sunrise Senior Living, Inc		147,623
1,495	*	Symbion, Inc		31,036

228

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
6,915	*	United Surgical Partners International, Inc	$	207,934
848	*	VistaCare, Inc (Class A)		10,261
		TOTAL HEALTH SERVICES		2,377,027
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.14%
1,520		Granite Construction, Inc		68,810
3,268	*	Matrix Service Co		37,386
1,192	*	Sterling Construction Co, Inc		32,899
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		139,095
HOLDING AND OTHER INVESTMENT OFFICES - 4.07%
4,976		Acadia Realty Trust		117,682
307	*	Alexander's, Inc		83,430
740		Alexandria Real Estate Equities, Inc		65,623
947		Cherokee, Inc		39,168
5,222		Corporate Office Properties Trust		219,742
5,906		Cousins Properties, Inc		182,673
2,883		Digital Realty Trust, Inc		71,181
3,154		EastGroup Properties, Inc		147,229
482	*	Enstar Group, Inc		44,436
3,016		Equity Lifestyle Properties, Inc		132,191
1,765		FelCor Lodging Trust, Inc		38,371
2,668		Getty Realty Corp		75,878
1,113		Gladstone Investment Corp		16,695
5,688		Glimcher Realty Trust		141,119
2,737		Harris & Harris Group, Inc		30,216
4,668		Home Properties, Inc		259,121
907		Inland Real Estate Corp		13,496
20,000		iShares Russell 2000 Growth Index Fund		1,470,200
1,422		JER Investors Trust, Inc		22,112
872		Maguire Properties, Inc		30,668
925		Mid-America Apartment Communities, Inc		51,569
8,848		Mills Corp		236,684
2,106		Omega Healthcare Investors, Inc		27,841
490		PS Business Parks, Inc		28,910
360		Resource Capital Corp		4,633
1,709		Saul Centers, Inc		69,693
298		Sovran Self Storage, Inc		15,135
2,713		Sun Communities, Inc		88,254
4,861		Tanger Factory Outlet Centers, Inc		157,351
6,587		Washington Real Estate Investment Trust		241,743
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		4,123,044
HOTELS AND OTHER LODGING PLACES - 0.42%
1,177		Ameristar Casinos, Inc		22,893
1,467	*	Aztar Corp		76,225
2,455	*	Isle of Capri Casinos, Inc		62,971
1,630	*	Monarch Casino & Resort, Inc		45,836
2,820	*	Morgans Hotel Group Co		43,879
820	*	Riviera Holdings Corp		16,564
4,167	*	Vail Resorts, Inc		154,596
		TOTAL HOTELS AND OTHER LODGING PLACES		422,964

229

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.46%
1,420		Aaon, Inc	$	36,437
4,230		Actuant Corp		211,289
2,765		Albany International Corp (Class A)		117,208
2,143	*	Allis-Chalmers Energy, Inc		29,123
2,553	*	Astec Industries, Inc		87,108
3,271	*	ASV, Inc		75,364
4,890	*	Asyst Technologies, Inc		36,822
921	*	Basin Water, Inc		9,228
3,300	*	Blount International, Inc		39,666
4,942		Bucyrus International, Inc (Class A)		249,571
12,400	*	Cirrus Logic, Inc		100,936
2,867	*	Columbus McKinnon Corp		62,329
516		Curtiss-Wright Corp		15,934
5,756	*	Cymer, Inc		267,424
1,734	*	Dril-Quip, Inc		142,951
4,127	*	Emulex Corp		67,146
2,518	*	ENGlobal Corp		19,615
2,307	*	Entegris, Inc		21,986
1,872	*	Fargo Electronics, Inc		47,530
2,026	*	Flanders Corp		20,321
5,476	*	Flow International Corp		77,047
4,178	*	Gateway, Inc		7,938
545	*	Gehl Co		13,914
1,139	*	Global Imaging Systems, Inc		47,018
2,405	*	Goodman Global, Inc		36,508
2,823	*	Hydril		221,662
7,706	*	Intermec, Inc		176,776
3,264	*	Intevac, Inc		70,763
4,408		Kaydon Corp		164,462
3,634	*	Komag, Inc		167,818
1,596	*	LB Foster Co		38,735
322		Lindsay Manufacturing Co		8,733
2,317		Lufkin Industries, Inc		137,699
6,079	*	Micros Systems, Inc		265,531
1,045	*	Middleby Corp		90,455
2,289	*	NATCO Group, Inc		92,018
5,021	*	Netgear, Inc		108,705
388		NN, Inc		4,792
3,981		Nordson Corp		195,786
4,098	*	Oil States International, Inc		140,479
831	*	Palm, Inc		13,379
4,336	*	Rackable Systems, Inc		171,229
3,201	*	RBC Bearings, Inc		72,663
1,242		Sauer-Danfoss, Inc		31,572
3,831	*	Scansource, Inc		112,325
493	*	Semitool, Inc		4,447
3,561	*	Sigma Designs, Inc		33,580
206		Tennant Co		10,358
1,904	*	TurboChef Technologies, Inc		21,172
3,470	*	Ultratech, Inc		54,618
4,363		Watsco, Inc		260,995
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		4,511,165

230

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
INSTRUMENTS AND RELATED PRODUCTS - 8.50%
3,125	*	Abaxis, Inc	$	69,906
3,658	*	Abiomed, Inc		47,444
1,550	*	ADE Corp		50,360
10,566	*	Affymetrix, Inc		270,490
8,935	*	Align Technology, Inc		66,030
10,865	*	American Medical Systems Holdings, Inc		180,902
1,426	*	American Science & Engineering, Inc		82,594
1,227		Analogic Corp		57,190
382	*	Anaren, Inc		7,827
1,917	*	Angiodynamics, Inc		51,855
1,961	*	Argon ST, Inc		52,221
3,496		Arrow International, Inc		114,914
4,094	*	Arthrocare Corp		171,989
2,554	*	Aspect Medical Systems, Inc		44,542
1,535		Badger Meter, Inc		41,445
2,372	*	Biosite, Inc		108,306
5,867	*	Bruker BioSciences Corp		31,447
3,560	*	Candela Corp		56,462
8,140	*	Cepheid, Inc		79,039
4,346	*	Cerus Corp		30,987
2,083		CNS, Inc		51,034
2,773	*	Coherent, Inc		93,533
3,345	*	Cyberonics, Inc		71,315
107		Datascope Corp		3,300
5,764	*	Depomed, Inc		33,835
2,632	*	DexCom, Inc		35,743
3,180	*	Dionex Corp		173,819
3,566	*	DJ Orthopedics, Inc		131,336
273	*	DXP Enterprises, Inc		8,482
703	*	Eagle Test Systems, Inc		9,856
5,387	*	Encore Medical Corp		25,911
4,038	*	ESCO Technologies, Inc		215,831
1,465	*	Esterline Technologies Corp		60,929
2,586	*	ev3, Inc		38,299
1,294	*	Excel Technology, Inc		38,716
3,731	*	FEI Co		84,619
10,825	*	Flir Systems, Inc		238,800
7,169	*	Formfactor, Inc		319,952
2,943	*	Fossil, Inc		53,003
2,920	*	Foxhollow Technologies, Inc		79,774
4,077	*	Haemonetics Corp		189,621
187	*	Herley Industries, Inc		2,096
7,140	*	Hologic, Inc		352,430
888	*	ICU Medical, Inc		37,509
3,660	*	I-Flow Corp		39,601
3,610	*	II-VI, Inc		66,063
6,533	*	Illumina, Inc		193,769
3,053	*	Input/Output, Inc		28,851
3,019	*	Integra LifeSciences Holdings Corp		117,167
6,580	*	Intermagnetics General Corp		177,528
3,353	*	Intralase Corp		56,129
4,775	*	Ionatron, Inc		30,321
2,737	*	IRIS International, Inc		36,019
3,972	*	Itron, Inc		235,381

231

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
6,323	*	Ixia	$	56,907
659	*	Kensey Nash Corp		19,441
9,364	*	Kopin Corp		33,804
6,926	*	Kyphon, Inc		265,681
3,080	*	Laserscope		94,895
9,670	*	LTX Corp		67,787
2,165	*	Measurement Specialties, Inc		48,215
447	*	Medical Action Industries, Inc		9,874
6,036		Mentor Corp		262,566
3,036		Mine Safety Appliances Co		122,047
2,331	*	Molecular Devices Corp		71,235
2,506		MTS Systems Corp		99,012
2,914	*	Natus Medical, Inc		28,819
1,952	*	Neurometrix, Inc		59,458
942	*	Nextest Systems Corp		15,270
1,376	*	Northstar Neuroscience, Inc		14,283
5,188	*	NuVasive, Inc		94,577
1,900	*	NxStage Medical, Inc		16,587
1,401		Oakley, Inc		23,607
616	*	OYO Geospace Corp		35,180
2,726	*	Palomar Medical Technologies, Inc		124,387
1,624	*	Photon Dynamics, Inc		20,332
3,670		PolyMedica Corp		131,973
6,043	*	RAE Systems, Inc		24,172
2,258	*	Rofin-Sinar Technologies, Inc		129,767
679	*	Rudolph Technologies, Inc		9,846
8,039	*	Sirf Technology Holdings, Inc		259,017
2,618		Sirona Dental Systems, Inc		103,725
3,802	*	Sonic Solutions, Inc		62,733
2,510	*	SonoSite, Inc		97,990
4,789	*	Spectranetics Corp		51,338
4,627	*	Symmetry Medical, Inc		71,256
4,571	*	Teledyne Technologies, Inc		149,746
8,479	*	ThermoGenesis Corp		34,933
7,361	*	Thoratec Corp		102,097
5,180	*	TriPath Imaging, Inc		34,292
1,532		United Industrial Corp		69,323
1,603	*	Varian, Inc		66,541
4,386	*	Veeco Instruments, Inc		104,562
4,558	*	Ventana Medical Systems, Inc		215,046
3,251	*	Viasys Healthcare, Inc		83,226
566	*	Viisage Technology, Inc		8,581
2,046	*	Vital Images, Inc		50,536
938		Vital Signs, Inc		46,459
4,779	*	Wright Medical Group, Inc		100,024
1,472		X-Rite, Inc		16,177
752		Young Innovations, Inc		26,493
893	*	Zoll Medical Corp		29,255
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		8,609,594
INSURANCE AGENTS, BROKERS AND SERVICE - 0.24%
300		Clark, Inc		3,960
463		Hilb Rogal & Hobbs Co		17,256
4,901		National Financial Partners Corp		217,163
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		238,379

232

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
INSURANCE CARRIERS - 0.56%
624		21st Century Insurance Group	$	8,986
1,485	*	AMERIGROUP Corp		46,094
6,723	*	Centene Corp		158,192
1,511	*	First Acceptance Corp		17,800
4,254	*	HealthExtras, Inc		128,556
2,240	*	Healthspring, Inc		42,000
946	*	Molina Healthcare, Inc		35,995
1,550		National Interstate Corp		42,036
100		Safety Insurance Group, Inc		4,755
2,637		Tower Group, Inc		79,769
		TOTAL INSURANCE CARRIERS		564,183
JUSTICE, PUBLIC ORDER AND SAFETY - 0.07%
2,032	*	Geo Group, Inc		71,222
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		71,222
LEATHER AND LEATHER PRODUCTS - 0.44%
1,552	*	CROCS, Inc		39,033
507	*	Genesco, Inc		17,172
5,492	*	Iconix Brand Group, Inc		89,739
3,260		Steven Madden Ltd		96,561
4,033	*	Timberland Co (Class A)		105,261
4,359		Wolverine World Wide, Inc		101,695
		TOTAL LEATHER AND LEATHER PRODUCTS		449,461
LEGAL SERVICES - 0.15%
3,480	*	FTI Consulting, Inc		93,160
1,569		Pre-Paid Legal Services, Inc		54,130
		TOTAL LEGAL SERVICES		147,290
LUMBER AND WOOD PRODUCTS - 0.29%
1,780		American Woodmark Corp		62,371
11,836	*	Champion Enterprises, Inc		130,669
1,540		Deltic Timber Corp		86,810
275		Universal Forest Products, Inc		17,251
		TOTAL LUMBER AND WOOD PRODUCTS		297,101
METAL MINING - 0.51%
1,251		Cleveland-Cliffs, Inc		99,192
43,831	*	Coeur d'Alene Mines Corp		210,827
17,842	*	Hecla Mining Co		93,670
1,552		Royal Gold, Inc		43,177
5,263	*	Stillwater Mining Co		66,735
		TOTAL METAL MINING		513,601
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.68%
6,075		Daktronics, Inc		175,385
13,737	*	Identix, Inc		96,022
1,213		Marine Products Corp		11,802
3,941		Nautilus, Inc		61,913
5,056	*	Progressive Gaming International Corp		39,437

233

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
241	*	RC2 Corp	$	9,317
5,544	*	Shuffle Master, Inc		181,732
4,481		Yankee Candle Co, Inc		112,070
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		687,678
MISCELLANEOUS RETAIL - 1.71%
3,970	*	1-800-FLOWERS.COM, Inc (Class A)		22,907
1,381	*	AC Moore Arts & Crafts, Inc		22,524
2,879		Big 5 Sporting Goods Corp		56,141
2,337	*	Blue Nile, Inc		75,158
2,287	*	Build-A-Bear Workshop, Inc		49,193
2,425		Cash America International, Inc		77,600
7,996	*	CKX, Inc		108,506
1,884	*	dELiA*s, Inc		15,223
11,339	*	Drugstore.com, Inc		32,883
1,852	*	Ezcorp, Inc		69,802
6,132	*	GSI Commerce, Inc		82,966
5,576	*	Hibbett Sporting Goods, Inc		133,266
4,366		Longs Drug Stores Corp		199,177
1,639	*	Overstock.com, Inc		34,845
9,065	*	Petco Animal Supplies, Inc		185,198
3,903	*	Priceline.com, Inc		116,544
1,149	*	Sportsman's Guide, Inc		35,044
2,921	*	Stamps.com, Inc		81,262
4,517	*	Valuevision International, Inc (Class A)		49,823
4,246		World Fuel Services Corp		194,000
2,257	*	Zumiez, Inc		84,795
		TOTAL MISCELLANEOUS RETAIL		1,726,857
MOTION PICTURES - 0.34%
621	*	Avid Technology, Inc		20,698
2,537	*	Gaiam, Inc		35,569
6,979	*	Macrovision Corp		150,188
9,356	*	Time Warner Telecom, Inc (Class A)		138,937
		TOTAL MOTION PICTURES		345,392
NONDEPOSITORY INSTITUTIONS - 0.73%
10,683		Advance America Cash Advance Centers, Inc		187,380
352		Advanta Corp (Class B)		12,654
1,841		Asta Funding, Inc		68,945
2,521	*	CompuCredit Corp		96,907
1,524	*	Credit Acceptance Corp		41,361
3,187		Doral Financial Corp		20,429
4,368	*	First Cash Financial Services, Inc		86,268
5,057	*	INVESTools, Inc		40,153
1,170	*	Penson Worldwide, Inc		20,136
1,549		Technology Investment Capital Corp		22,693
1,606	*	United PanAm Financial Corp		48,822
2,699	*	World Acceptance Corp		95,868
		TOTAL NONDEPOSITORY INSTITUTIONS		741,616
NONMETALLIC MINERALS, EXCEPT FUELS - 0.09%
3,272		AMCOL International Corp		86,217
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		86,217

234

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
OIL AND GAS EXTRACTION - 4.25%
1,686	*	Arena Resources, Inc	$	57,813
2,718	*	Atlas America, Inc		121,794
3,159	*	ATP Oil & Gas Corp		132,457
4,176	*	Atwood Oceanics, Inc		207,130
10,424	*	Aurora Oil & Gas Corp		41,696
1,958	*	Basic Energy Services, Inc		59,856
5,507		Berry Petroleum Co (Class A)		182,557
1,958	*	Bill Barrett Corp		57,976
2,482	*	Bois d'Arc Energy, Inc		40,879
1,783	*	Bronco Drilling Co, Inc		37,247
1,641	*	Callon Petroleum Co		31,737
3,272	*	Carrizo Oil & Gas, Inc		102,446
920	*	Clayton Williams Energy, Inc		31,777
4,061	*	Complete Production Services, Inc		96,002
4,695	*	Comstock Resources, Inc		140,193
631	*	Dawson Geophysical Co		19,416
4,049		Delta & Pine Land Co		119,041
7,601	*	Delta Petroleum Corp		130,205
4,374	*	Energy Partners Ltd		82,887
4,573	*	Exploration Co of Delaware, Inc		48,748
11,154	*	Gasco Energy, Inc		49,635
4,699	*	GeoGlobal Resources, Inc		22,978
1,259	*	GMX Resources, Inc		38,928
1,955	*	Goodrich Petroleum Corp		55,502
30,331	*	Grey Wolf, Inc		233,549
2,013	*	Gulfport Energy Corp		22,224
3	*	Hanover Compressor Co		56
3,173	*	Hercules Offshore, Inc		111,055
7,789	*	KCS Energy, Inc		231,333
11,466	*	Mariner Energy, Inc		210,630
2,459	*	Metretek Technologies, Inc		42,246
8,184	*	Newpark Resources, Inc		50,332
5,297	*	Parallel Petroleum Corp		130,889
2,543	*	Petroleum Development Corp		95,871
1,662	*	Petroquest Energy, Inc		20,409
6,466	*	Pioneer Drilling Co		99,835
116	*	PrimeEnergy Corp		8,926
3,065	*	Quest Resource Corp		41,531
1,617	*	RAM Energy Resources, Inc		9,249
4,496	*	Remington Oil & Gas Corp		197,689
3,341		RPC, Inc		81,119
3,292	*	Sulphco, Inc		23,571
1,710	*	Superior Well Services, Inc		42,579
6,382	*	Syntroleum Corp		38,739
1,964	*	Toreador Resources Corp		55,247
10,854	*	Transmeridian Exploration, Inc		61,868
9,025	*	Vaalco Energy, Inc		88,084
3,875	*	Veritas DGC, Inc		199,873
2,495	*	Warren Resources, Inc		35,828
918	*	Warrior Energy Service Corp		22,335
4,617	*	W-H Energy Services, Inc		234,682
		TOTAL OIL AND GAS EXTRACTION		4,298,649

235

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
PAPER AND ALLIED PRODUCTS - 0.37%
8,254	*	Cenveo, Inc	$	148,159
11,857	*	Graphic Packaging Corp		44,938
2,077		Longview Fibre Co		39,650
2,289		Neenah Paper, Inc		69,700
6,312	*	Playtex Products, Inc		65,834
383		Wausau Paper Corp		4,768
		TOTAL PAPER AND ALLIED PRODUCTS		373,049
PERSONAL SERVICES - 0.20%
2,020		Coinmach Service Corp		20,705
372	*	Coinstar, Inc		8,906
5,535		Jackson Hewitt Tax Service, Inc		173,522
		TOTAL PERSONAL SERVICES		203,133
PETROLEUM AND COAL PRODUCTS - 0.28%
1,200		Alon USA Energy, Inc		37,764
1,607	*	Delek US Holdings, Inc		24,426
1,239		ElkCorp		34,407
738	*	Giant Industries, Inc		49,114
3,766	*	Headwaters, Inc		96,259
1,314		WD-40 Co		44,111
		TOTAL PETROLEUM AND COAL PRODUCTS		286,081
PRIMARY METAL INDUSTRIES - 2.31%
17,051	*	AK Steel Holding Corp		235,815
4,849	*	Aleris International, Inc		222,327
1,962	*	Century Aluminum Co		70,024
682	*	Chaparral Steel Co		49,118
9,085	*	CommScope, Inc		285,451
3,641	*	Encore Wire Corp		130,858
7,291	*	General Cable Corp		255,185
299	*	Lone Star Technologies, Inc		16,152
3,370		Matthews International Corp (Class A)		116,164
4,843	*	Maverick Tube Corp		306,029
890		Mueller Industries, Inc		29,397
1,392	*	NS Group, Inc		76,671
4,858	*	Oregon Steel Mills, Inc		246,106
1,318		Quanex Corp		56,766
3,565	*	RTI International Metals, Inc		199,070
222	*	Superior Essex, Inc		6,644
645		Texas Industries, Inc		34,249
		TOTAL PRIMARY METAL INDUSTRIES		2,336,026
PRINTING AND PUBLISHING - 0.61%
2,770	*	ACCO Brands Corp		60,663
1,205	*	Consolidated Graphics, Inc		62,732
305		Courier Corp		12,206
6,351		Hollinger International, Inc		50,999
1,699		John H Harland Co		73,907
3,961	*	Martha Stewart Living Omnimedia, Inc (Class A)		66,188
450	*	Playboy Enterprises, Inc (Class B)		4,491
4,611	*	Presstek, Inc		42,928

236

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,956	*	Private Media Group Ltd	$	17,604
7,756		Reader's Digest Association, Inc (Class A)		108,274
490		Schawk, Inc		8,575
4,408	*	Valassis Communications, Inc		103,985
		TOTAL PRINTING AND PUBLISHING		612,552
RAILROAD TRANSPORTATION - 0.38%
3,549		Florida East Coast Industries		185,719
5,663	*	Genesee & Wyoming, Inc (Class A)		200,867
		TOTAL RAILROAD TRANSPORTATION		386,586
REAL ESTATE - 0.13%
826		Consolidated-Tomoka Land Co		45,546
2,128	*	Housevalues, Inc		14,747
2,055	*	Trammell Crow Co		72,274
		TOTAL REAL ESTATE		132,567
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.47%
1,121	*	AEP Industries, Inc		37,464
990	*	Deckers Outdoor Corp		38,174
1,646		PW Eagle, Inc		49,775
1,599	*	Skechers U.S.A., Inc (Class A)		38,552
1,813	*	Trex Co, Inc		46,939
4,350		Tupperware Corp		85,652
5,044		West Pharmaceutical Services, Inc		182,996
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		479,552
SECURITY AND COMMODITY BROKERS - 1.08%
3,160		Calamos Asset Management, Inc (Class A)		91,608
1,599		Cohen & Steers, Inc		37,736
1,867	*	GFI Group, Inc		100,725
2,760		Greenhill & Co, Inc		167,698
5,958		International Securities Exchange, Inc		226,821
1,984	*	MarketAxess Holdings, Inc		21,844
2,203	*	Morningstar, Inc		91,380
3,328		optionsXpress Holdings, Inc		77,576
912	*	Stifel Financial Corp		32,203
1,061	*	Thomas Weisel Partners Group, Inc		20,170
206		Value Line, Inc		8,796
10,348		Waddell & Reed Financial, Inc (Class A)		212,755
		TOTAL SECURITY AND COMMODITY BROKERS		1,089,312
SOCIAL SERVICES - 0.20%
4,237	*	Bright Horizons Family Solutions, Inc		159,693
1,731	*	Providence Service Corp		47,135
		TOTAL SOCIAL SERVICES		206,828
SPECIAL TRADE CONTRACTORS - 0.34%
601		Alico, Inc		33,121
4,089		Chemed Corp		222,973
2,137		Comfort Systems USA, Inc		30,538
2,401	*	Integrated Electrical Services, Inc		41,945
683	*	Layne Christensen Co		19,363
		TOTAL SPECIAL TRADE CONTRACTORS		347,940

237

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
STONE, CLAY, AND GLASS PRODUCTS - 0.31%
3,431		Apogee Enterprises, Inc	$	50,436
2,179	*	Cabot Microelectronics Corp		66,045
3,115		CARBO Ceramics, Inc		153,040
4,236	*	US Concrete, Inc		46,808
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		316,329
TEXTILE MILL PRODUCTS - 0.02%
174		Oxford Industries, Inc		6,857
1,446		Xerium Technologies, Inc		13,621
		TOTAL TEXTILE MILL PRODUCTS		20,478
TOBACCO PRODUCTS - 0.05%
3,423		Vector Group Ltd		55,624
		TOTAL TOBACCO PRODUCTS		55,624
TRANSPORTATION BY AIR - 1.10%
9,126	*	ABX Air, Inc		55,121
1,436	*	Air Methods Corp		37,594
14,214	*	Airtran Holdings, Inc		211,220
3,074	*	Alaska Air Group, Inc		121,177
613	*	Atlas Air Worldwide Holdings, Inc		30,062
4,926	*	EGL, Inc		247,285
1,009	*	ExpressJet Holdings, Inc		6,972
864	*	Frontier Airlines Holdings, Inc		6,229
21,687	*	JetBlue Airways Corp		263,280
1,238	*	PHI, Inc		41,102
3,919		Skywest, Inc		97,191
		TOTAL TRANSPORTATION BY AIR		1,117,233
TRANSPORTATION EQUIPMENT - 2.14%
2,380		A.O. Smith Corp		110,337
4,938	*	AAR Corp		109,772
1,708	*	Accuride Corp		21,299
1,415		American Railcar Industries, Inc		46,851
4,200	*	Aviall, Inc		199,584
3,027		Clarcor, Inc		90,174
2,286	*	Comtech Group, Inc		25,443
9,994	*	Fleetwood Enterprises, Inc		75,355
1,068		Freightcar America, Inc		59,285
8,504	*	GenCorp, Inc		136,319
1,600	*	GenTek, Inc		42,960
839		Greenbrier Cos, Inc		27,469
3,215		Heico Corp		91,145
3,504	*	IMPCO Technologies, Inc		37,388
1,263	*	K&F Industries Holdings, Inc		22,393
1,495	*	Miller Industries, Inc		30,946
8,582	*	Navistar International Corp		211,203
1,287		Noble International Ltd		18,430
4,311	*	Orbital Sciences Corp		69,580
5,175		Polaris Industries, Inc		224,077
1,290	*	Tenneco, Inc		33,540
1,084	*	TransDigm Group, Inc		25,962

238

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
505	*	Triumph Group, Inc	$	24,240
7,587		Westinghouse Air Brake Technologies Corp		283,754
4,679		Winnebago Industries, Inc		145,236
		TOTAL TRANSPORTATION EQUIPMENT		2,162,742
TRANSPORTATION SERVICES - 0.46%
3,233		Ambassadors Group, Inc		93,369
1,593	*	Dynamex, Inc		34,743
6,092	*	HUB Group, Inc		149,437
5,837		Pacer International, Inc		190,169
		TOTAL TRANSPORTATION SERVICES		467,718
TRUCKING AND WAREHOUSING - 0.63%
3,595	*	Celadon Group, Inc		79,234
4,485		Forward Air Corp		182,674
5,091		Heartland Express, Inc		91,078
712	*	Marten Transport Ltd		15,479
4,450	*	Old Dominion Freight Line		167,276
552	*	P.A.M. Transportation Services, Inc		15,947
58	*	Patriot Transportation Holding, Inc		5,033
1,331	*	Quality Distribution, Inc		17,676
672	*	U.S. Xpress Enterprises, Inc (Class A)		18,157
880	*	Universal Truckload Services, Inc		30,034
759	*	USA Truck, Inc		13,525
		TOTAL TRUCKING AND WAREHOUSING		636,113
WATER TRANSPORTATION - 0.32%
4,817	*	American Commercial Lines, Inc		290,224
900		Horizon Lines, Inc		14,418
270	*	Hornbeck Offshore Services, Inc		9,590
245		Maritrans, Inc		6,101
		TOTAL WATER TRANSPORTATION		320,333
WHOLESALE TRADE-DURABLE GOODS - 1.44%
7,000		Applied Industrial Technologies, Inc		170,170
4,796		Barnes Group, Inc		95,680
6,855	*	Beacon Roofing Supply, Inc		150,879
804		Castle (A.M.) & Co		25,929
3,572	*	Conceptus, Inc		48,722
1,825	*	Digi International, Inc		22,867
2,900	*	Drew Industries, Inc		93,960
2,677	*	Genesis Microchip, Inc		30,946
4,238	*	Interline Brands, Inc		99,084
2,527	*	Keystone Automotive Industries, Inc		106,690
8,943		Knight Transportation, Inc		180,649
7,002	*	LKQ Corp		133,038
1,556	*	Merge Technologies, Inc		19,154
808	*	MWI Veterinary Supply, Inc		29,435
10,574	*	PSS World Medical, Inc		186,631
6,138	*	Tyler Technologies, Inc		68,746
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,462,580
WHOLESALE TRADE-NONDURABLE GOODS - 1.15%
6,966	*	Akorn, Inc		27,725

239

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
7,247	*	Allscripts Healthcare Solutions, Inc	$	127,185
4,159	*	Central European Distribution Corp		104,640
690	*	Green Mountain Coffee Roasters, Inc		27,717
2,148		K-Swiss, Inc (Class A)		57,352
303	*	Maui Land & Pineapple Co, Inc		11,453
7,439		Men's Wearhouse, Inc		225,402
2,478		Myers Industries, Inc		42,597
5,555		Nu Skin Enterprises, Inc (Class A)		82,492
2,417	*	Nuco2, Inc		58,105
370	*	School Specialty, Inc		11,784
825	*	Source Interlink Cos, Inc		9,817
1,948		The Andersons, Inc		81,056
6,601	*	United Natural Foods, Inc		217,965
380		Valley National Gases, Inc		9,937
2,049	*	Volcom, Inc		65,548
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,160,775
		TOTAL COMMON STOCKS		99,475,784
		(Cost $84,945,449)
		TOTAL PORTFOLIO - 98.27%		99,475,784
		(Cost $84,945,449)
		OTHER ASSETS & LIABILITIES, NET - 1.73%		1,754,178
		NET ASSETS - 100.00%	$	101,229,962
	*	Non-income producing
	v	Security valued at fair value
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

240

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP VALUE INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 97.51%
AGRICULTURAL PRODUCTION-CROPS - 0.09%
5,881		Chiquita Brands International, Inc	$	81,040
		TOTAL AGRICULTURAL PRODUCTION-CROPS		81,040
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.21%
5,407		Pilgrim's Pride Corp		139,501
46		Seaboard Corp		58,880
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		198,381
AMUSEMENT AND RECREATION SERVICES - 0.74%
894	*	Bally Technologies, Inc		14,724
3,742	*	Bally Total Fitness Holding Corp		25,371
1,149		Churchill Downs, Inc		43,030
2,338		Dover Motorsports, Inc		13,724
3,059	*	Lakes Entertainment, Inc		36,983
4,146	*	Leapfrog Enterprises, Inc		41,875
6,296	*	Live Nation, Inc		128,187
4,790	*	Magna Entertainment Corp (Class A)		25,195
1,371	*	Marvel Entertainment, Inc		27,420
2,297	*	MTR Gaming Group, Inc		21,546
3,649	*	Multimedia Games, Inc		36,964
2,506	*	Pinnacle Entertainment, Inc		76,809
9,814	*	Six Flags, Inc		55,155
1,994		Speedway Motorsports, Inc		75,254
9,441		Westwood One, Inc		70,807
		TOTAL AMUSEMENT AND RECREATION SERVICES		693,044
APPAREL AND ACCESSORY STORES - 0.79%
2,884		Brown Shoe Co, Inc		98,287
238		Buckle, Inc		9,965
8,275	*	Charming Shoppes, Inc		93,011
5,697		Finish Line, Inc (Class A)		67,395
3,289	*	Jo-Ann Stores, Inc		48,184
7,915	*	Payless Shoesource, Inc		215,051
1,025	*	Shoe Carnival, Inc		24,456
3,529		Stage Stores, Inc		116,457
818	*	Syms Corp		15,051
2,997		Talbots, Inc		55,295
		TOTAL APPAREL AND ACCESSORY STORES		743,152
APPAREL AND OTHER TEXTILE PRODUCTS - 0.71%
1,749	*	Columbia Sportswear Co		79,160
4,234	*	Hartmarx Corp		25,404
3,481		Kellwood Co		101,889
520	*	Maidenform Brands, Inc		6,412
3,685		Phillips-Van Heusen Corp		140,620

241

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
13,018	*	Quiksilver, Inc	$	158,559
4,478		Russell Corp		81,320
3,615	*	Warnaco Group, Inc		67,528
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		660,892
AUTO REPAIR, SERVICES AND PARKING - 0.50%
156	*	Amerco, Inc		15,703
1,505		Bandag, Inc		55,068
1,572		Central Parking Corp		25,152
3,390	*	Dollar Thrifty Automotive Group, Inc		152,787
7,101	*	PHH Corp		195,562
957	*	Wright Express Corp		27,504
		TOTAL AUTO REPAIR, SERVICES AND PARKING		471,776
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.36%
529	*	America's Car-Mart, Inc		10,744
1,700	*	Asbury Automotive Group, Inc		35,598
2,668	*	CSK Auto Corp		31,936
2,077		Lithia Motors, Inc (Class A)		62,975
2,051	*	MarineMax, Inc		53,798
2,891	*	Rush Enterprises, Inc (Class A)		52,529
4,067		Sonic Automotive, Inc		90,206
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		337,786
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.13%
2,725	*	Central Garden & Pet Co		117,311
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		117,311
BUSINESS SERVICES - 7.36%
2,989	*	@Road, Inc		16,499
52,864	*	3Com Corp		270,664
5,808		ABM Industries, Inc		99,317
1,388	*	Actuate Corp		5,608
6,580	*	Agile Software Corp		41,717
2,933	*	Altiris, Inc		52,911
258	*	AMN Healthcare Services, Inc		5,237
286	*	Ansys, Inc		13,677
1,035		Arbitron, Inc		39,672
10,150	*	Ariba, Inc		83,535
6,061	*	Aspen Technology, Inc		79,520
560	*	Asset Acceptance Capital Corp		11,088
5,891	*	Avocent Corp		154,639
23,176	*	BearingPoint, Inc		193,983
12,326	*	BISYS Group, Inc		168,866
1,076		Blackbaud, Inc		24,425
10,846	*	Borland Software Corp		57,267
2,613	*	Bottomline Technologies, Inc		21,270
2,145		Brady Corp (Class A)		79,022
685	*	CACI International, Inc (Class A)		39,956
2,656		Catalina Marketing Corp		75,590
4,892	*	CBIZ, Inc		36,250
6,846	*	Ciber, Inc		45,115
62,188	*	CMGI, Inc		75,247
2,823	*	Cogent Communications Group, Inc		26,452

242

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
444		Cognex Corp	$	11,557
4,191	*	Covansys Corp		52,681
3,596	*	CSG Systems International, Inc		88,965
6,914		Deluxe Corp		120,857
5,020	*	Dendrite International, Inc		46,385
17,914	*	Earthlink, Inc		155,135
3,914	*	Echelon Corp		29,316
4,627	*	eFunds Corp		102,025
2,620	*	Electro Rent Corp		41,972
2,002	*	EPIQ Systems, Inc		33,313
2,897	*	eSpeed, Inc (Class A)		24,132
4,610	*	Filenet Corp		124,147
227	*	First Advantage Corp		5,280
594	*	Forrester Research, Inc		16,620
1,707	*	FTD Group, Inc		23,045
2,439	*	Gerber Scientific, Inc		31,731
1,030	*	Global Cash Access, Inc		16,099
498	*	Heidrick & Struggles International, Inc		16,852
402	*	Hudson Highland Group, Inc		4,338
4,071	*	Hyperion Solutions Corp		112,360
642	*	i2 Technologies, Inc		8,134
482	*	iGate Corp		3,080
465	*	IHS, Inc		13,778
480	*	Infocrossing, Inc		5,544
1,971	*	Infospace, Inc		44,683
780	*	Innovative Solutions & Support, Inc		10,967
180		Integral Systems, Inc		4,829
4,746	*	Interactive Data Corp		95,347
652	*	Intergraph Corp		20,531
5,166	*	Internet Capital Group, Inc		46,494
4,821	*	Internet Security Systems, Inc		90,876
1,564		Interpool, Inc		34,752
3,241	*	Interwoven, Inc		27,808
2,723	*	Ipass, Inc		15,249
3,374	*	JDA Software Group, Inc		47,337
2,831	*	Keane, Inc		35,388
1,887		Kelly Services, Inc (Class A)		51,270
1,195	*	Korn/Ferry International		23,410
16,708	*	Lawson Software, Inc		111,944
4,898	*	Magma Design Automation, Inc		36,000
3,322	*	Manhattan Associates, Inc		67,403
551	*	Mantech International Corp (Class A)		17,004
750	*	Mapinfo Corp		9,787
1,096	*	Marlin Business Services, Inc		24,726
10,791	*	Mentor Graphics Corp		140,067
8,828	*	MPS Group, Inc		132,950
4,418	*	NCO Group, Inc		116,812
176	*	Neoware, Inc		2,163
2,289	*	Ness Technologies, Inc		24,607
5,612	*	NetIQ Corp		68,410
1,976	*	Netratings, Inc		27,447
829	*	Netscout Systems, Inc		7,395
7,482	*	Parametric Technology Corp		95,096
1,954		Pegasystems, Inc		12,545

243

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
11,537	*	Perot Systems Corp (Class A)	$	167,056
461	*	PRA International		10,266
9,693	*	Premiere Global Services, Inc		73,182
5,520	*	Progress Software Corp		129,223
910		QAD, Inc		7,052
2,702	*	Quest Software, Inc		37,936
1,968	*	Radisys Corp		43,217
3,481	*	RealNetworks, Inc		37,247
1	*	Redback Networks, Inc		18
9,331	*	Rent-A-Center, Inc		231,969
796	*	Rewards Network, Inc		6,503
8,592	*	RSA Security, Inc		233,616
9,495	*	S1 Corp		45,576
3,714	*	SafeNet, Inc		65,812
5,699	*	Secure Computing Corp		49,011
951	*	SI International, Inc		29,158
1,436	*	Sitel Corp		5,629
8,637	*	SonicWALL, Inc		77,647
3,606	*	Spherion Corp		32,887
535	*	SSA Global Technologies, Inc		10,368
1,483		Startek, Inc		22,171
1,989		Stellent, Inc		18,995
11,398	*	Sybase, Inc		221,121
1,629	*	SYNNEX Corp		30,886
9,108	*	Take-Two Interactive Software, Inc		97,091
1,999	*	TAL International Group, Inc		48,176
1,575	*	THQ, Inc		34,020
24,659	*	TIBCO Software, Inc		173,846
2,459	*	TNS, Inc		50,877
8,591		United Online, Inc		103,092
4,026	*	Universal Compression Holdings, Inc		253,517
1,093	*	Vertrue, Inc		47,032
3,086		Viad Corp		96,592
2,707	*	Vignette Corp		39,468
1,110	*	Volt Information Sciences, Inc		51,726
5,459	*	webMethods, Inc		53,880
		TOTAL BUSINESS SERVICES		6,884,033
CHEMICALS AND ALLIED PRODUCTS - 3.50%
1,188	*	ADVENTRX Pharmaceuticals, Inc		3,766
2,451	*	Albany Molecular Research, Inc		26,177
4,528		Alpharma, Inc (Class A)		108,853
1,368	*	Anadys Pharmaceuticals, Inc		3,995
2,018	*	Andrx Corp		46,797
3,064		Arch Chemicals, Inc		110,457
2,082	*	Arena Pharmaceuticals, Inc		24,110
779	*	Atherogenics, Inc		10,166
2,158	*	Bentley Pharmaceuticals, Inc		23,652
1,930	*	Bradley Pharmaceuticals, Inc		19,686
4,960		Calgon Carbon Corp		30,206
3,603		Cambrex Corp		75,050
7,316		CF Industries Holdings, Inc		104,326
754	*	Chattem, Inc		22,899
2,604	*	Cotherix, Inc		22,420

244

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,688	*	Cypress Bioscience, Inc	$	10,364
9,434	*	Dendreon Corp		45,661
3,473	*	Elizabeth Arden, Inc		62,097
428	*	Emisphere Technologies, Inc		3,651
5,676		Ferro Corp		90,589
913	*	Genitope Corp		5,770
4,059		Georgia Gulf Corp		101,556
4,562	*	Geron Corp		31,478
3,931		H.B. Fuller Co		171,274
6,913	*	Hercules, Inc		105,492
938	*	Indevus Pharmaceuticals, Inc		5,131
1,766		Innospec, Inc		44,892
176		Inter Parfums, Inc		3,031
3,480	*	Inverness Medical Innovations, Inc		98,240
1,322		Koppers Holdings, Inc		26,427
1,502	*	Martek Biosciences Corp		43,483
2,775		Minerals Technologies, Inc		144,300
8,088	*	Nabi Biopharmaceuticals		46,425
6,584	*	NBTY, Inc		157,423
1,079	*	Neurocrine Biosciences, Inc		11,437
292	*	New River Pharmaceuticals, Inc		8,322
100	*	NitroMed, Inc		483
400		NL Industries, Inc		4,300
2,246	*	Northfield Laboratories, Inc		22,213
906	*	NPS Pharmaceuticals, Inc		4,421
2,072	*	Nuvelo, Inc		34,499
8,743		Olin Corp		156,762
3,919	*	OM Group, Inc		120,901
2,819	*	Omnova Solutions, Inc		16,012
1,594	*	Par Pharmaceutical Cos, Inc		29,425
9,950		Perrigo Co		160,195
931	*	Pharmion Corp		15,855
210	*	Pioneer Cos, Inc		5,729
12,434	*	PolyOne Corp		109,171
4,485	*	Prestige Brands Holdings, Inc		44,715
879	*	Renovis, Inc		13,457
19,798	*	Revlon, Inc (Class A)		24,945
4,661	*	Rockwood Holdings, Inc		107,250
464	*	Sciele Pharma, Inc		10,760
6,384		Sensient Technologies Corp		133,489
483	*	Serologicals Corp		15,186
770		Stepan Co		24,317
5,509		Tronox, Inc		72,554
2,636		UAP Holding Corp		57,491
11,863		USEC, Inc		140,577
5,335	*	Viropharma, Inc		45,988
4,924	*	WR Grace & Co		57,611
		TOTAL CHEMICALS AND ALLIED PRODUCTS		3,277,909
COAL MINING - 0.13%
2,413	*	International Coal Group, Inc		17,349
1,491		Penn Virginia Corp		104,191
		TOTAL COAL MINING		121,540

245

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
COMMUNICATIONS - 2.45%
5,567		Alaska Communications Systems Group, Inc	$	70,423
2,308		Anixter International, Inc		109,538
2,308	*	Audiovox Corp (Class A)		31,527
54,629	*	Charter Communications, Inc (Class A)		61,731
33,655	*	Cincinnati Bell, Inc		137,986
5,307		Citadel Broadcasting Corp		47,232
1,335		Commonwealth Telephone Enterprises, Inc		44,269
3,085		Consolidated Communications Holdings, Inc		51,304
39,299	*	Covad Communications Group, Inc		78,991
5,976	*	Cox Radio, Inc (Class A)		86,174
999	*	Crown Media Holdings, Inc (Class A)		4,116
2,561		CT Communications, Inc		58,570
5,107	*	Cumulus Media, Inc (Class A)		54,492
3,114	*	Emmis Communications Corp (Class A)		48,703
4,468		Entercom Communications Corp		116,883
4,011	*	Entravision Communications Corp (Class A)		34,374
264	*	Eschelon Telecom, Inc		4,084
3,906		Fairpoint Communications, Inc		56,246
996	*	Fisher Communications, Inc		41,961
8,895	*	Foundry Networks, Inc		94,821
3,242	*	General Communication, Inc (Class A)		39,941
2,907		Golden Telecom, Inc		73,692
5,828		Gray Television, Inc		33,744
7,294	*	IDT Corp (Class B)		100,584
4,193		Iowa Telecommunications Services, Inc		79,332
1,056	*	Lightbridge, Inc		13,675
3,946	*	Lin TV Corp (Class A)		29,792
5,376	*	Mastec, Inc		71,017
3,322	*	Mediacom Communications Corp		20,696
524	*	NTELOS Holdings Corp		7,572
6,359	*	Price Communications Corp		107,785
10,244	*	Radio One, Inc (Class D)		75,806
3,848	*	RCN Corp		95,931
1	v*	RCN Corp Wts		0
1,201		Salem Communications Corp (Class A)		15,625
364	*	SAVVIS, Inc		10,778
863		Shenandoah Telecom Co		40,561
3,395	*	Spanish Broadcasting System, Inc (Class A)		17,348
2,079		SureWest Communications		40,166
372	*	Syniverse Holdings, Inc		5,468
3,945	*	Talk America Holdings, Inc		24,420
3,751		USA Mobility, Inc		62,267
5,536		Valor Communications Group, Inc		63,387
1,692	*	Vonage Holdings Corp		14,534
4,828	*	Wireless Facilities, Inc		13,277
		TOTAL COMMUNICATIONS		2,290,823
DEPOSITORY INSTITUTIONS - 15.24%
1,682		1st Source Corp		56,902
791		Abington Community Bancorp, Inc		11,849
1,493	*	ACE Cash Express, Inc		43,700
1,979		Alabama National Bancorp		134,869
2,964		Amcore Financial, Inc		86,875

246

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,490		AmericanWest Bancorp	$	33,749
1,700		Ameris Bancorp		39,338
2,900		Anchor Bancorp Wisconsin, Inc		87,493
1,228		Arrow Financial Corp		33,684
1,042		Bancfirst Corp		46,630
1,386	*	Bancorp, Inc		34,664
1,420		BancTrust Financial Group, Inc		33,327
7,813		Bank Mutual Corp		95,475
1,940		Bank of Granite Corp		40,410
6,257		BankAtlantic Bancorp, Inc (Class A)		92,854
3,153		BankFinancial Corp		54,547
4,196		BankUnited Financial Corp (Class A)		128,062
1,583		Banner Corp		61,009
1,100		Berkshire Hills Bancorp, Inc		39,028
2,501	*	BFC Financial Corp		17,307
4,682		Boston Private Financial Holdings, Inc		130,628
8,502		Brookline Bancorp, Inc		117,073
1,263		Cadence Financial Corp		28,127
837		Camden National Corp		33,396
1,725		Capital City Bank Group, Inc		52,095
910		Capital Corp of the West		29,120
1,832		Capitol Bancorp Ltd		71,356
1,213		Cardinal Financial Corp		14,095
85		Cascade Bancorp		2,423
6,330		Cathay General Bancorp		230,285
7,856	*	Centennial Bank Holdings, Inc		81,231
506		Center Financial Corp		11,962
1,154		Centerstate Banks of Florida, Inc		23,657
4,126		Central Pacific Financial Corp		159,676
3,468		Chemical Financial Corp		106,121
6,273		Chittenden Corp		162,157
5,827		Citizens Banking Corp		142,237
1,078		Citizens First Bancorp, Inc		28,793
963		City Bank		44,934
2,304		City Holding Co		83,267
1,903		Clifton Savings Bancorp, Inc		20,609
554		Coastal Financial Corp		7,224
859		Columbia Bancorp		21,535
2,083		Columbia Banking System, Inc		77,863
5,115		Commercial Capital Bancorp, Inc		80,561
785	*	Community Bancorp		24,398
64		Community Bancorp, Inc		2,708
4,161		Community Bank System, Inc		83,927
3,116		Community Banks, Inc		81,016
2,123		Community Trust Bancorp, Inc		74,156
5,195		Corus Bankshares, Inc		136,005
2,871		CVB Financial Corp		44,960
3,490		Dime Community Bancshares		47,359
2,769		Downey Financial Corp		187,877
1,050		Farmers Capital Bank Corp		34,387
2,490		Fidelity Bankshares, Inc		79,232
1,482		First Bancorp		31,122
9,424		First Bancorp		87,643
459		First Busey Corp (Class A)		9,396

247

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,136		First Charter Corp	$	101,456
9,638		First Commonwealth Financial Corp		122,403
2,719		First Community Bancorp, Inc		160,639
1,452		First Community Bancshares, Inc		47,901
4,410		First Financial Bancorp		65,753
2,709		First Financial Bankshares, Inc		98,987
1,810		First Financial Corp		54,318
1,741		First Financial Holdings, Inc		55,712
1,763		First Indiana Corp		45,891
2,495		First Merchants Corp		60,653
6,618		First Midwest Bancorp, Inc		245,395
14,753		First Niagara Financial Group, Inc		206,837
900		First Oak Brook Bancshares, Inc		33,300
2,120		First Place Financial Corp		48,781
74	*	First Regional Bancorp		6,512
2,589		First Republic Bank		118,576
2,158		First State Bancorporation		51,317
2,228	*	FirstFed Financial Corp		128,489
10,602		FirstMerit Corp		222,006
1,810		Flag Financial Corp		35,205
5,255		Flagstar Bancorp, Inc		83,870
2,616		Flushing Financial Corp		46,983
7,754		FNB Corp		122,281
1,000		FNB Corp		37,000
3,071	*	Franklin Bank Corp		62,003
4,395		Fremont General Corp		81,571
2,664		Frontier Financial Corp		90,549
1,690		GB&T Bancshares, Inc		36,774
3,709		Glacier Bancorp, Inc		108,562
1,322		Great Southern Bancorp, Inc		40,361
6,916		Greater Bay Bancorp		198,835
1,091		Greene County Bancshares, Inc		33,777
2,107		Hancock Holding Co		117,992
5,365		Hanmi Financial Corp		104,296
2,331		Harbor Florida Bancshares, Inc		86,573
3,669		Harleysville National Corp		77,819
1,871		Heartland Financial USA, Inc		49,862
713		Heritage Commerce Corp		17,675
662		Home Federal Bancorp, Inc		9,043
1,395		Horizon Financial Corp		38,265
1,328		IBERIABANK Corp		76,413
2,127		Independent Bank Corp		69,064
2,861		Independent Bank Corp		75,244
2,273		Integra Bank Corp		49,438
2,500		Interchange Financial Services Corp		56,250
5,373		International Bancshares Corp		147,650
459	*	Intervest Bancshares Corp		18,590
6,498	*	Investors Bancorp, Inc		88,048
2,661		Irwin Financial Corp		51,597
850		ITLA Capital Corp		44,693
3,114		Kearny Financial Corp		46,087
3,968		KNBT Bancorp, Inc		65,551
2,678		Lakeland Bancorp, Inc		41,964
1,573		Lakeland Financial Corp		38,208

248

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,596		Macatawa Bank Corp	$	37,330
4,613		MAF Bancorp, Inc		197,621
1,968		MainSource Financial Group, Inc		34,302
2,807		MB Financial, Inc		99,255
1,950		MBT Financial Corp		31,200
786		Mercantile Bank Corp		31,322
542		MetroCorp Bancshares, Inc		15,870
3,140		Mid-State Bancshares		87,920
1,871		Midwest Banc Holdings, Inc		41,630
1,160		Nara Bancorp, Inc		21,750
515		NASB Financial, Inc		17,392
6,307		National Penn Bancshares, Inc		125,257
4,697		NBT Bancorp, Inc		109,111
6,668		NetBank, Inc		44,209
8,059		NewAlliance Bancshares, Inc		115,324
886	*	Northern Empire Bancshares		21,264
2,700		Northwest Bancorp, Inc		71,550
1,157		OceanFirst Financial Corp		25,709
9,453		Old National Bancorp		188,776
1,577		Old Second Bancorp, Inc		48,887
1,763		Omega Financial Corp		55,200
2,773		Oriental Financial Group, Inc		35,383
5,615		Pacific Capital Bancorp		174,739
1,573		Park National Corp		155,428
6,628		Partners Trust Financial Group, Inc		75,625
1,200		Pennfed Financial Services, Inc		22,380
1,383		Peoples Bancorp, Inc		41,269
2,348		PFF Bancorp, Inc		77,860
655	*	Pinnacle Financial Partners, Inc		19,932
800		Placer Sierra Bancshares		18,552
946		Premierwest Bancorp		13,651
3,359		Prosperity Bancshares, Inc		110,478
4,448		Provident Bankshares Corp		161,863
9,276		Provident Financial Services, Inc		166,504
5,590		Provident New York Bancorp		73,900
527	*	QC Holdings, Inc		7,120
3,638		R & G Financial Corp (Class B)		31,250
1,460		Renasant Corp		58,911
9,825		Republic Bancorp, Inc		121,732
1,177		Republic Bancorp, Inc (Class A)		24,246
796		Royal Bancshares of Pennsylvania (Class A)		19,327
3,417		S&T Bancorp, Inc		113,547
1,239		S.Y. Bancorp, Inc		34,048
1,934		Sandy Spring Bancorp, Inc		69,740
660		Santander BanCorp		16,249
1,280		SCBT Financial Corp		45,632
767		Seacoast Banking Corp of Florida		20,425
1,889		Security Bank Corp		42,068
1,072		Shore Bancshares, Inc		29,083
1,940		Simmons First National Corp (Class A)		56,279
583		Sound Federal Bancorp, Inc		12,121
1,194		Southside Bancshares, Inc		26,650
1,836		Southwest Bancorp, Inc		46,818
1,397		State National Bancshares, Inc		53,240

249

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,500		Sterling Bancorp	$	48,750
6,118		Sterling Bancshares, Inc		114,713
3,604		Sterling Financial Corp		78,928
4,769		Sterling Financial Corp		145,502
903		Summit Bancshares, Inc		19,153
1,874	*	Sun Bancorp, Inc		30,434
694	*	Superior Bancorp		7,634
6,307		Susquehanna Bancshares, Inc		150,737
747		Taylor Capital Group, Inc		30,485
5,395		Texas Regional Bancshares, Inc (Class A)		204,578
1,213		Texas United Bancshares, Inc		34,146
2,422		TierOne Corp		81,791
931		Tompkins Trustco, Inc		40,033
1,410		Trico Bancshares		38,606
6,396		Trustmark Corp		198,084
2,730		UCBH Holdings, Inc		45,154
4,296		UMB Financial Corp		143,229
7,456		Umpqua Holdings Corp		191,246
1,170		Union Bankshares Corp		50,474
5,155		United Bankshares, Inc		188,828
3,964		United Community Banks, Inc		120,664
3,800		United Community Financial Corp		45,600
1,506		Univest Corp of Pennsylvania		41,596
1,210		USB Holding Co, Inc		27,225
1,022		Virginia Financial Group, Inc		43,149
15,083		W Holding Co, Inc		100,302
1,455		Washington Trust Bancorp, Inc		40,333
1,187	*	Wauwatosa Holdings, Inc		20,250
3,138		WesBanco, Inc		97,247
278		West Bancorporation, Inc		5,190
2,041		West Coast Bancorp		60,148
2,362		Westamerica Bancorporation		115,667
309		Westfield Financial, Inc		8,961
1,872		Willow Grove Bancorp, Inc		29,784
1,915		Wintrust Financial Corp		97,378
736		WSFS Financial Corp		45,227
1,085		Yardville National Bancorp		38,767
		TOTAL DEPOSITORY INSTITUTIONS		14,256,324
EATING AND DRINKING PLACES - 1.38%
3,441	*	AFC Enterprises		43,873
1,582		Applebees International, Inc		30,406
4,799		Bob Evans Farms, Inc		144,018
4,114		CBRL Group, Inc		139,547
1,931	*	CEC Entertainment, Inc		62,024
5,061		Domino's Pizza, Inc		125,209
1,825		IHOP Corp		87,746
4,726	*	Jack in the Box, Inc		185,259
3,845	*	Krispy Kreme Doughnuts, Inc		31,298
2,331		Landry's Restaurants, Inc		75,641
2,410		Lone Star Steakhouse & Saloon, Inc		63,214
3,110	*	Luby's, Inc		32,437
313	*	McCormick & Schmick's Seafood Restaurants, Inc		7,449
870	*	Morton's Restaurant Group, Inc		13,328

250

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,977	*	O'Charleys, Inc	$	50,609
1,136	*	Papa John's International, Inc		37,715
623	*	Rare Hospitality International, Inc		17,917
609		Ruby Tuesday, Inc		14,866
5,986	*	Ryan's Restaurant Group, Inc		71,293
3,776	*	The Steak N Shake Co		57,169
		TOTAL EATING AND DRINKING PLACES		1,291,018
EDUCATIONAL SERVICES - 0.02%
2,387	*	Educate, Inc		18,284
		TOTAL EDUCATIONAL SERVICES		18,284
ELECTRIC, GAS, AND SANITARY SERVICES - 5.38%
3,520		Allete, Inc		166,672
2,364		American States Water Co		84,277
50,456	*	Aquila, Inc		212,420
6,682		Avista Corp		152,550
4,482		Black Hills Corp		153,867
2,420		California Water Service Group		86,491
1,500		Cascade Natural Gas Corp		31,635
397	*	Casella Waste Systems, Inc (Class A)		5,197
2,144		CH Energy Group, Inc		102,912
6,871		Cleco Corp		159,751
10,478		Duquesne Light Holdings, Inc		172,258
6,450	*	El Paso Electric Co		130,032
3,867		Empire District Electric Co		79,467
875		EnergySouth, Inc		27,326
5,814		Idacorp, Inc		199,362
561		ITC Holdings Corp		14,911
2,906		Laclede Group, Inc		99,850
3,459		Metal Management, Inc		105,915
2,659		MGE Energy, Inc		82,828
3,667		New Jersey Resources Corp		171,542
6,081		Nicor, Inc		252,363
3,734		Northwest Natural Gas Co		138,270
4,816		NorthWestern Corp		165,430
78		Ormat Technologies, Inc		2,976
3,964		Otter Tail Corp		108,336
5,139		Peoples Energy Corp		184,541
1,230	*	Pico Holdings, Inc		39,668
10,040		Piedmont Natural Gas Co, Inc		243,972
9,098		PNM Resources, Inc		227,086
3,604		Portland General Electric Co		89,992
2,038		Resource America, Inc (Class A)		38,824
1,969		SJW Corp		50,111
3,847		South Jersey Industries, Inc		105,369
5,348		Southwest Gas Corp		167,606
3,100		Southwest Water Co		37,107
8,216		Synagro Technologies, Inc		32,289
2,022		UIL Holdings Corp		113,818
4,754		Unisource Energy Corp		148,087
4,384	*	Waste Connections, Inc		159,578
922		Waste Industries USA, Inc		20,911
3,728	*	Waste Services, Inc		33,515

251

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
11,429		Westar Energy, Inc	$	240,580
6,588		WGL Holdings, Inc		190,723
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		5,030,415
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.09%
3,344	*	Actel Corp		47,986
15,920	*	Adaptec, Inc		69,093
3,404		Adtran, Inc		76,352
781	*	Advanced Energy Industries, Inc		10,340
8,808	*	Aeroflex, Inc		102,789
2,636	*	AMIS Holdings, Inc		26,360
21,442	*	Andrew Corp		189,976
39,585	*	Applied Micro Circuits Corp		108,067
6,703	*	Arris Group, Inc		87,943
1,483	*	ATMI, Inc		36,511
2,085		Baldor Electric Co		65,240
1,476		Bel Fuse, Inc (Class B)		48,427
6,779	*	Benchmark Electronics, Inc		163,509
7,756	*	Bookham, Inc		26,060
10,020	*	Broadwing Corp		103,707
12,808	*	Brocade Communications Systems, Inc		78,641
3,102	*	CalAmp Corp		27,577
2,091	*	Carrier Access Corp		17,293
2,161	*	C-COR, Inc		16,683
5,214	*	Checkpoint Systems, Inc		115,803
8,088	*	Conexant Systems, Inc		20,220
2,368		CTS Corp		35,259
2,111		Cubic Corp		41,397
4,320	*	Ditech Networks, Inc		37,670
3,456	*	DSP Group, Inc		85,882
551	*	DTS, Inc		10,733
4,010	*	Electro Scientific Industries, Inc		72,140
621	*	EMS Technologies, Inc		11,159
6,345	*	EnerSys		132,611
2,480	*	Exar Corp		32,910
6,436	*	FuelCell Energy, Inc		61,657
7,322	*	GrafTech International Ltd		42,468
2,214	*	Greatbatch, Inc		52,250
916	*	Harmonic, Inc		4,104
3,455	*	Hutchinson Technology, Inc		74,732
4,667		Imation Corp		191,580
2,417		Inter-Tel, Inc		50,902
370	*	IXYS Corp		3,552
11,626	*	Kemet Corp		107,192
15,276	*	Lattice Semiconductor Corp		94,406
1,600	*	Littelfuse, Inc		55,008
1,495	*	Loral Space & Communications, Inc		42,398
2,630		LSI Industries, Inc		44,684
690	*	Mattson Technology, Inc		6,741
21,202	*	McData Corp (Class A)		86,504
2,050	*	Mercury Computer Systems, Inc		31,549
4,968		Methode Electronics, Inc		52,214
457	*	Metrologic Instruments, Inc		6,860
2,576	*	MIPS Technologies, Inc		15,636

252

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,902	*	Moog, Inc	$	167,746
16,746	*	MRV Communications, Inc		52,080
600		National Presto Industries, Inc		31,368
1,327	*	ON Semiconductor Corp		7,803
1,950	*	Oplink Communications Inc		35,704
2,300	*	Optical Communication Products, Inc		4,623
1,347	*	OSI Systems, Inc		23,936
2,575		Park Electrochemical Corp		66,306
1,967	*	Pericom Semiconductor Corp		16,326
5,542	*	Photronics, Inc		82,022
2,859		Plantronics, Inc		63,498
6,216	*	Polycom, Inc		136,255
1,812	*	Portalplayer, Inc		17,776
1,018	*	Powell Industries, Inc		24,361
514	*	Power Integrations, Inc		8,985
7,416	*	Power-One, Inc		48,946
14,815	*	Powerwave Technologies, Inc		135,113
6,334	*	Quantum Fuel Systems Technologies Worldwide, Inc		21,536
1,847		Regal-Beloit Corp		81,545
4,474	*	RF Micro Devices, Inc		26,710
8,455	*	Silicon Storage Technology, Inc		34,327
16,885	*	Skyworks Solutions, Inc		93,036
4,974	*	Spectrum Brands, Inc		64,264
1,079	*	Staktek Holdings, Inc		5,244
2,230	*	Standard Microsystems Corp		48,681
24,054	*	Sycamore Networks, Inc		97,659
5,118	*	Symmetricom, Inc		36,184
5,468		Technitrol, Inc		126,584
1,128	*	Tekelec		13,931
18,672	*	Triquint Semiconductor, Inc		83,277
834	*	TTM Technologies, Inc		12,068
1,729	*	Ulticom, Inc		18,103
1,084	*	Universal Display Corp		14,428
215	*	Universal Electronics, Inc		3,808
8,609	*	Utstarcom, Inc		67,064
1,060	*	Varian Semiconductor Equipment Associates, Inc		34,567
8,551	*	Zhone Technologies, Inc		17,444
843	*	Zoran Corp		20,519
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		4,766,602
ENGINEERING AND MANAGEMENT SERVICES - 1.18%
10,314	*	Applera Corp (Celera Genomics Group)		133,566
3,492	*	Ariad Pharmaceuticals, Inc		15,749
1,355		CDI Corp		39,295
1,505	*	Cornell Cos, Inc		23,117
114	*	CRA International, Inc		5,146
1,258	*	deCODE genetics, Inc		7,787
1,984	*	Exponent, Inc		33,530
5,135	*	Harris Interactive, Inc		29,269
5,170	*	Incyte Corp		23,782
3,550	*	Infrasource Services, Inc		64,645
500		Landauer, Inc		23,950
660	*	LECG Corp		12,190
2,853		MAXIMUS, Inc		66,047

253

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,940	*	Maxygen, Inc	$	29,471
414	*	MTC Technologies, Inc		9,783
386	*	Navigant Consulting, Inc		8,743
2,483	*	Rigel Pharmaceuticals, Inc		24,160
7,997	*	Savient Pharmaceuticals, Inc		41,984
2,444	*	SFBC International, Inc		37,051
2,130	*	Sourcecorp		52,803
2,973	*	Tetra Tech, Inc		52,741
3,975		Washington Group International, Inc		212,027
4,364		Watson Wyatt & Co Holdings		153,351
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,100,187
FABRICATED METAL PRODUCTS - 0.86%
1,170		Ameron International Corp		78,413
4,667		Aptargroup, Inc		231,530
2,160		CIRCOR International, Inc		65,858
2,834	*	Commercial Vehicle Group, Inc		58,607
458		Compx International, Inc		8,198
4,010	*	Griffon Corp		104,661
535		Gulf Island Fabrication, Inc		10,721
5,041	*	Jacuzzi Brands, Inc		44,361
71	*	Ladish Co, Inc		2,660
407		Lifetime Brands, Inc		8,820
291	*	Mobile Mini, Inc		8,515
327	*	Mueller Water Products, Inc		5,693
612	*	Shiloh Industries, Inc		9,204
1,248		Silgan Holdings, Inc		46,188
452		Simpson Manufacturing Co, Inc		16,295
238		Valmont Industries, Inc		11,065
2,716		Watts Water Technologies, Inc (Class A)		91,122
		TOTAL FABRICATED METAL PRODUCTS		801,911
FOOD AND KINDRED PRODUCTS - 0.88%
150	*	Altus Pharmaceuticals, Inc		2,767
300	*	Boston Beer Co, Inc (Class A)		8,787
680		Diamond Foods, Inc		10,928
877		Farmer Bros Co		19,013
3,228		Flowers Foods, Inc		92,450
6,791	*	Gold Kist, Inc		90,796
1,481		Imperial Sugar Co		35,129
1,026		J&J Snack Foods Corp		33,930
1,039		Lancaster Colony Corp		41,009
2,594		Lance, Inc		59,714
1,568	*	M&F Worldwide Corp		25,245
1,772		Premium Standard Farms, Inc		28,760
3,332	*	Ralcorp Holdings, Inc		141,710
406		Reddy Ice Holdings, Inc		8,262
2,264		Sanderson Farms, Inc		63,369
696		Tootsie Roll Industries, Inc		20,274
4,607		Topps Co, Inc		37,870
4,140	*	TreeHouse Foods, Inc		98,905
		TOTAL FOOD AND KINDRED PRODUCTS		818,918

254

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
FOOD STORES - 0.38%
2,531		Great Atlantic & Pacific Tea Co, Inc	$	57,504
1,500		Ingles Markets, Inc (Class A)		25,500
234	*	Pantry, Inc		13,464
6,411	*	Pathmark Stores, Inc		60,328
5,262		Ruddick Corp		128,972
200		Village Super Market		13,074
1,461		Weis Markets, Inc		60,193
		TOTAL FOOD STORES		359,035
FURNITURE AND FIXTURES - 0.53%
3,623		Ethan Allen Interiors, Inc		132,421
6,200		Furniture Brands International, Inc		129,208
1,465		Hooker Furniture Corp		24,568
2,232		Kimball International, Inc (Class B)		43,993
7,077		La-Z-Boy, Inc		99,078
1,560		Sealy Corp		20,701
1,541		Stanley Furniture Co, Inc		36,938
375	*	Williams Scotsman International, Inc		8,190
		TOTAL FURNITURE AND FIXTURES		495,097
FURNITURE AND HOMEFURNISHINGS STORES - 0.20%
2,971	*	Cost Plus, Inc		43,555
2,995		Haverty Furniture Cos, Inc		46,991
11,736		Pier 1 Imports, Inc		81,917
998		Tuesday Morning Corp		13,124
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		185,587
GENERAL BUILDING CONTRACTORS - 0.68%
836	*	Avatar Holdings, Inc		47,627
1,006		Brookfield Homes Corp		33,148
501	*	Cavco Industries, Inc		22,264
4,864	*	Hovnanian Enterprises, Inc (Class A)		146,309
2,120		Levitt Corp (Class A)		33,920
1,497		M/I Homes, Inc		52,515
3,032	*	Meritage Homes Corp		143,262
1,134	*	Palm Harbor Homes, Inc		19,947
392	*	Perini Corp		8,820
2,598		Technical Olympic USA, Inc		37,307
4,620	*	WCI Communities, Inc		93,047
		TOTAL GENERAL BUILDING CONTRACTORS		638,166
GENERAL MERCHANDISE STORES - 0.73%
6,354	*	99 Cents Only Stores		66,463
15,149	*	Big Lots, Inc		258,745
842		Bon-Ton Stores, Inc		18,423
4,040	*	Cabela's, Inc		77,810
6,375		Casey's General Stores, Inc		159,439
200	*	Conn's, Inc		5,310
5,333		Fred's, Inc		71,196
1,618		Stein Mart, Inc		23,946
		TOTAL GENERAL MERCHANDISE STORES		681,332
HEALTH SERVICES - 0.98%
403	*	Alliance Imaging, Inc		2,579

255

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,520	*	Amsurg Corp	$	34,580
5,133	*	Apria Healthcare Group, Inc		97,014
345	*	Corvel Corp		8,625
3,709	*	Cross Country Healthcare, Inc		67,467
229	*	Emeritus Corp		4,294
2,615	*	Genesis HealthCare Corp		123,872
1,659	*	Gentiva Health Services, Inc		26,594
2,002	*	Horizon Health Corp		41,802
4,608	*	Kindred Healthcare, Inc		119,808
4,264	*	Magellan Health Services, Inc		193,202
867	*	Medcath Corp		16,334
252		National Healthcare Corp		11,227
1,042	*	Odyssey HealthCare, Inc		18,308
3,232		Option Care, Inc		38,719
2,290	*	RehabCare Group, Inc		39,800
1,408	*	Sunrise Senior Living, Inc		38,931
1,179	*	Symbion, Inc		24,476
728	*	VistaCare, Inc (Class A)		8,809
		TOTAL HEALTH SERVICES		916,441
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.17%
3,426		Granite Construction, Inc		155,095
106	*	Sterling Construction Co, Inc		2,926
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		158,021
HOLDING AND OTHER INVESTMENT OFFICES - 14.30%
6,365		Aames Investment Corp		31,761
4,557	*	Affordable Residential Communities		48,988
1,020		Agree Realty Corp		34,649
2,430		Alexandria Real Estate Equities, Inc		215,492
2,290		American Campus Communities, Inc		56,906
17,387		American Financial Realty Trust		168,306
5,981		American Home Mortgage Investment Corp		220,460
7,813		Anthracite Capital, Inc		95,006
6,651		Anworth Mortgage Asset Corp		55,203
10,740		Apollo Investment Corp		198,475
1,839		Arbor Realty Trust, Inc		46,067
6,419		Ashford Hospitality Trust, Inc		81,008
7,524		BioMed Realty Trust, Inc		225,269
4,433		Capital Lease Funding, Inc		50,581
421		Capital Southwest Corp		43,973
1,646		Capital Trust, Inc		58,630
3,942		Cedar Shopping Centers, Inc		58,026
1,500		CentraCore Properties Trust		37,125
266		Cherokee, Inc		11,002
1,737		Compass Diversified Trust		24,787
10,384		Crescent Real Estate Equities Co		192,727
6,834		Deerfield Triarc Capital Corp		88,705
8,348		DiamondRock Hospitality Co		123,634
523		EastGroup Properties, Inc		24,414
3,448		Education Realty Trust, Inc		57,409
72	*	Enstar Group, Inc		6,638
3,452		Entertainment Properties Trust		148,609
7,434		Equity Inns, Inc		123,107

256

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES	COMPANY		VALUE
5,050	Equity One, Inc	$	105,545
6,806	Extra Space Storage, Inc		110,529
6,895	FelCor Lodging Trust, Inc		149,897
6,766	Fieldstone Investment Corp		61,977
5,992	First Industrial Realty Trust, Inc		227,336
2,686	First Potomac Realty Trust		80,016
6,454	Franklin Street Properties Corp		127,015
19,686	Friedman Billings Ramsey Group, Inc		215,955
1,464	Gladstone Capital Corp		31,315
1,033	Gladstone Investment Corp		15,495
4,186	Glenborough Realty Trust, Inc		90,166
5,332	GMH Communities Trust		70,276
2,322	Gramercy Capital Corp		60,140
544	Harris & Harris Group, Inc		6,006
6,315	Healthcare Realty Trust, Inc		201,133
3,726	Heritage Property Investment Trust		130,112
3,614	Hersha Hospitality Trust		33,574
8,145	Highland Hospitality Corp		114,682
7,414	Highwoods Properties, Inc		268,239
4,647	Home Properties, Inc		257,955
7,574	HomeBanc Corp		60,138
10,371	IMPAC Mortgage Holdings, Inc		115,948
8,487	Inland Real Estate Corp		126,287
5,785	Innkeepers U.S.A. Trust		99,965
5,959	Investors Real Estate Trust		53,810
40,700	iShares Russell 2000 Value Index Fund		2,945,459
2,105	JER Investors Trust, Inc		32,733
3,868	Kite Realty Group Trust		60,302
10,617	KKR Financial Corp		220,940
5,427	LaSalle Hotel Properties		251,270
6,966	Lexington Corporate Properties Trust		150,466
3,100	LTC Properties, Inc		69,285
5,659	Luminent Mortgage Capital, Inc		52,402
4,250	Maguire Properties, Inc		149,473
5,295	Medical Properties Trust, Inc		58,457
10,210	MFA Mortgage Investments, Inc		70,245
2,605	Mid-America Apartment Communities, Inc		145,229
3,922	MortgageIT Holdings, Inc		47,299
3,186	National Health Investors, Inc		85,672
7,543	National Retail Properties, Inc		150,483
9,844	Nationwide Health Properties, Inc		221,588
5,964	Newcastle Investment Corp		151,008
2,578	Newkirk Realty Trust, Inc		44,754
4,048	NorthStar Realty Finance Corp		48,616
4,356	Novastar Financial, Inc		137,693
6,253	Omega Healthcare Investors, Inc		82,665
1,890	Parkway Properties, Inc		85,995
4,939	Pennsylvania Real Estate Investment Trust		199,387
5,793	Post Properties, Inc		262,655
5,326	Potlatch Corp		201,057
1,932	PS Business Parks, Inc		113,988
3,695	RAIT Investment Trust		107,894
2,160	Ramco-Gershenson Properties		58,169
10,962	Realty Income Corp		240,068

257

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,728		Redwood Trust, Inc	$	133,208
3,423		Republic Property Trust		33,819
280		Resource Capital Corp		3,604
1,224	*	Rockville Financial, Inc		18,017
7,071		Saxon Capital, Inc		80,892
8,340		Senior Housing Properties Trust		149,369
2,437		Sizeler Property Investors, Inc		39,138
2,208		Sovran Self Storage, Inc		112,144
11,034		Spirit Finance Corp		124,243
2,450	*	Star Maritime Acquisition Corp		24,892
9,748		Strategic Hotel Capital, Inc		202,173
7,645		Sunstone Hotel Investors, Inc		222,164
1,794		Tarragon Corp		24,847
8,964		Trustreet Properties, Inc		118,235
1,535		Universal Health Realty Income Trust		48,122
2,710		Urstadt Biddle Properties, Inc (Class A)		44,146
6,266		U-Store-It Trust		118,177
2,688		Windrose Medical Properties Trust		39,245
3,450		Winston Hotels, Inc		42,262
3,045		Winthrop Realty Trust		18,087
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		13,382,504
HOTELS AND OTHER LODGING PLACES - 0.83%
2,513		Ameristar Casinos, Inc		48,878
3,640	*	Aztar Corp		189,134
2,773	*	Bluegreen Corp		31,779
5,419	*	Gaylord Entertainment Co		236,485
3,601	*	Great Wolf Resorts, Inc		43,248
2,698	*	Lodgian, Inc		38,447
2,826		Marcus Corp		59,007
1,750	*	Outdoor Channel Holdings, Inc		18,060
637	*	Riviera Holdings Corp		12,867
3,690	*	Trump Entertainment Resorts, Inc		74,354
581	*	Vail Resorts, Inc		21,555
		TOTAL HOTELS AND OTHER LODGING PLACES		773,814
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.77%
8,504	*	Advanced Digital Information Corp		100,092
1,285		Albany International Corp (Class A)		54,471
843		Ampco-Pittsburgh Corp		24,152
2,464	*	Asyst Technologies, Inc		18,554
13,847	*	Axcelis Technologies, Inc		81,697
2,349		Black Box Corp		90,037
2,304	*	Blount International, Inc		27,694
7,013		Briggs & Stratton Corp		218,174
10,032	*	Brooks Automation, Inc		118,378
1,739		Cascade Corp		68,777
1,486	*	Cirrus Logic, Inc		12,096
5,490		Curtiss-Wright Corp		169,531
313	*	Cymer, Inc		14,542
7,701	*	Electronics for Imaging, Inc		160,797
7,861	*	Emulex Corp		127,898
2,902	*	EnPro Industries, Inc		97,507
16,581	*	Entegris, Inc		158,017

258

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
16,053	*	Extreme Networks, Inc	$	66,780
34,922	*	Gateway, Inc		66,352
1,004	*	Gehl Co		25,632
2,179	*	Global Imaging Systems, Inc		89,949
1,043	*	Goodman Global, Inc		15,833
1,200		Gorman-Rupp Co		31,920
1,802	*	Kadant, Inc		41,446
5,290		Kennametal, Inc		329,303
1,061	*	Komag, Inc		48,997
7,589	*	Kulicke & Soffa Industries, Inc		56,234
1,310		Lindsay Manufacturing Co		35,527
4,657		Modine Manufacturing Co		108,788
731		Nacco Industries, Inc (Class A)		100,447
2,051		NN, Inc		25,330
613		Nordson Corp		30,147
3,157	*	Oil States International, Inc		108,222
11,680	*	Palm, Inc		188,048
5,467	*	Paxar Corp		112,456
3,419	*	ProQuest Co		42,020
25,460	*	Quantum Corp		66,705
1,510		Robbins & Myers, Inc		39,471
15,989	*	Safeguard Scientifics, Inc		34,536
464		Sauer-Danfoss, Inc		11,795
199	*	Scansource, Inc		5,835
2,584	*	Semitool, Inc		23,308
1,760		Standex International Corp		53,416
2,310	*	Tecumseh Products Co (Class A)		44,352
979		Tennant Co		49,224
436	*	Ultratech, Inc		6,863
3,986		Woodward Governor Co		121,613
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		3,522,963
INSTRUMENTS AND RELATED PRODUCTS - 2.33%
877		Analogic Corp		40,877
2,095	*	Anaren, Inc		42,927
632		Badger Meter, Inc		17,064
2,485	*	Bio-Rad Laboratories, Inc (Class A)		161,376
288	*	Biosite, Inc		13,150
1,865	*	Coherent, Inc		62,906
3,001		Cohu, Inc		52,668
3,927	*	Conmed Corp		81,289
13,440	*	Credence Systems Corp		47,040
1,640		Datascope Corp		50,578
375	*	Eagle Test Systems, Inc		5,258
2,202		EDO Corp		53,597
3,581	*	Encore Medical Corp		17,225
2,226	*	Esterline Technologies Corp		92,579
558	*	Excel Technology, Inc		16,695
3,339	*	Fossil, Inc		60,135
4,728	*	HealthTronics, Inc		36,169
1,629	*	Herley Industries, Inc		18,261
1,178	*	ICU Medical, Inc		49,759
7,040	*	Input/Output, Inc		66,528
4,198		Invacare Corp		104,446

259

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,030	*	Kensey Nash Corp	$	30,385
1,497	*	Kopin Corp		5,404
824	*	Medical Action Industries, Inc		18,202
3,644	*	Merit Medical Systems, Inc		50,141
1,539		Mine Safety Appliances Co		61,868
4,856	*	MKS Instruments, Inc		97,703
363	*	Molecular Devices Corp		11,093
2,567		Movado Group, Inc		58,913
384		MTS Systems Corp		15,172
5,435	*	Newport Corp		87,612
2,169		Oakley, Inc		36,548
969	*	Photon Dynamics, Inc		12,132
169	*	Rofin-Sinar Technologies, Inc		9,712
2,787	*	Rudolph Technologies, Inc		40,412
9,032		STERIS Corp		206,472
671	*	Symmetry Medical, Inc		10,333
670	*	Teledyne Technologies, Inc		21,949
827	*	Thoratec Corp		11,470
2,866	*	Varian, Inc		118,968
386	*	Veeco Instruments, Inc		9,202
1,678	*	Viasys Healthcare, Inc		42,957
2,592	*	Viisage Technology, Inc		39,295
133		Vital Signs, Inc		6,587
457	*	Wright Medical Group, Inc		9,565
1,686		X-Rite, Inc		18,529
505	*	Zoll Medical Corp		16,544
2,413	*	Zygo Corp		39,549
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		2,177,244
INSURANCE AGENTS, BROKERS AND SERVICE - 0.38%
2,040		Clark, Inc		26,928
2,877		Crawford & Co (Class B)		20,657
4,431		Hilb Rogal & Hobbs Co		165,143
1,202	*	James River Group, Inc		29,930
813		National Financial Partners Corp		36,024
6,085	*	USI Holdings Corp		81,600
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		360,282
INSURANCE CARRIERS - 4.33%
4,127		21st Century Insurance Group		59,429
1,230		Affirmative Insurance Holdings, Inc		19,250
4,370		Alfa Corp		72,367
7,361		American Equity Investment Life Holding Co		78,468
950	*	American Physicians Capital, Inc		49,961
5,672	*	AMERIGROUP Corp		176,059
4,145	*	Argonaut Group, Inc		124,516
1,000		Baldwin & Lyons, Inc (Class B)		25,500
2,239		Bristol West Holdings, Inc		35,824
3,394		Capital Title Group, Inc		25,014
2,260	*	CNA Surety Corp		39,053
7,171		Commerce Group, Inc		211,831
5,731		Delphi Financial Group, Inc (Class A)		208,379
2,014		Direct General Corp		34,077
1,630		Donegal Group, Inc		31,638

260

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
820		EMC Insurance Group, Inc	$	23,583
1,830		FBL Financial Group, Inc (Class A)		59,292
1,246	*	First Acceptance Corp		14,678
1,429	*	Fpic Insurance Group, Inc		55,374
1,194		Great American Financial Resources, Inc		24,990
1,756		Harleysville Group, Inc		55,700
500	*	Healthspring, Inc		9,375
5,939		Horace Mann Educators Corp		100,666
670		Independence Holding Co		15,015
2,848		Infinity Property & Casualty Corp		116,768
500		Kansas City Life Insurance Co		21,085
2,377		LandAmerica Financial Group, Inc		153,554
3,272	*	Meadowbrook Insurance Group, Inc		27,223
1,494		Midland Co		56,742
856	*	Molina Healthcare, Inc		32,571
780		National Interstate Corp		21,154
325		National Western Life Insurance Co (Class A)		77,886
1,722	*	Navigators Group, Inc		75,458
717		NYMAGIC, Inc		20,829
1,805		Odyssey Re Holdings Corp		47,562
8,627		Ohio Casualty Corp		256,481
15,212		Phoenix Cos, Inc		214,185
4,567	*	PMA Capital Corp (Class A)		47,040
2,761		Presidential Life Corp		67,865
4,129	*	ProAssurance Corp		198,935
3,042		RLI Corp		146,564
1,689		Safety Insurance Group, Inc		80,312
1,300	*	SCPIE Holdings, Inc		30,225
2,087	*	SeaBright Insurance Holdings, Inc		33,622
3,813		Selective Insurance Group, Inc		213,032
1,888		State Auto Financial Corp		61,436
2,353		Stewart Information Services Corp		85,437
1,524	*	Triad Guaranty, Inc		74,493
2,730		United Fire & Casualty Co		82,255
5,068	*	Universal American Financial Corp		66,644
4,918		Zenith National Insurance Corp		195,097
		TOTAL INSURANCE CARRIERS		4,054,494
LEATHER AND LEATHER PRODUCTS - 0.30%
2,705	*	Genesco, Inc		91,618
3,211	*	Timberland Co (Class A)		83,807
960		Weyco Group, Inc		22,291
3,744		Wolverine World Wide, Inc		87,348
		TOTAL LEATHER AND LEATHER PRODUCTS		285,064
LEGAL SERVICES - 0.07%
2,508	*	FTI Consulting, Inc		67,139
		TOTAL LEGAL SERVICES		67,139
LUMBER AND WOOD PRODUCTS - 0.18%
900		Skyline Corp		38,502
2,069		Universal Forest Products, Inc		129,788
		TOTAL LUMBER AND WOOD PRODUCTS		168,290

261

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
METAL MINING - 0.22%
1,911		Cleveland-Cliffs, Inc	$	151,523
1,347		Royal Gold, Inc		37,474
1,171	*	Stillwater Mining Co		14,848
		TOTAL METAL MINING		203,845
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.59%
3,534		Blyth, Inc		65,238
10,425		Callaway Golf Co		135,421
3,696	*	Jakks Pacific, Inc		74,253
6,355	*	K2, Inc		69,524
709		Marine Products Corp		6,899
1,066		Nautilus, Inc		16,747
2,617	*	RC2 Corp		101,173
1,620	*	Russ Berrie & Co, Inc		19,861
931	*	Steinway Musical Instruments, Inc		22,828
1,624		Yankee Candle Co, Inc		40,616
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		552,560
MISCELLANEOUS RETAIL - 0.54%
959	*	AC Moore Arts & Crafts, Inc		15,641
617		Big 5 Sporting Goods Corp		12,032
1,858		Books-A-Million, Inc		30,991
8,672		Borders Group, Inc		160,085
1,980		Cash America International, Inc		63,360
1,517	*	dELiA*s, Inc		12,257
589		Longs Drug Stores Corp		26,870
1,045	*	Pricesmart, Inc		10,471
1,300	*	Systemax, Inc		10,140
444	*	Valuevision International, Inc (Class A)		4,897
6,473	*	Zale Corp		155,935
		TOTAL MISCELLANEOUS RETAIL		502,679
MOTION PICTURES - 0.42%
5,139	*	Avid Technology, Inc		171,283
25,972	*	Blockbuster, Inc (Class A)		129,341
1,606		Carmike Cinemas, Inc		33,854
1,001	*	Macrovision Corp		21,542
2,265	*	Time Warner Telecom, Inc (Class A)		33,635
		TOTAL MOTION PICTURES		389,655
NONDEPOSITORY INSTITUTIONS - 0.99%
2,410	*	Accredited Home Lenders Holding Co		115,222
2,386		Advanta Corp (Class B)		85,777
5,288		Ares Capital Corp		89,526
6,902		CharterMac		129,136
687	*	CompuCredit Corp		26,408
9,540		Doral Financial Corp		61,151
1,700	b*	DVI, Inc		4
1,424		Federal Agricultural Mortgage Corp (Class C)		39,445
3,617		Financial Federal Corp		100,589
1,673	*	INVESTools, Inc		13,284
7,305		MCG Capital Corp		116,150
1,882		Medallion Financial Corp		24,391

262

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,306		NGP Capital Resources Co	$	33,737
4,827	*	Ocwen Financial Corp		61,351
1,487		Technology Investment Capital Corp		21,785
160	*	World Acceptance Corp		5,683
		TOTAL NONDEPOSITORY INSTITUTIONS		923,639
NONMETALLIC MINERALS, EXCEPT FUELS - 0.11%
4,239		Compass Minerals International, Inc		105,763
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		105,763
OIL AND GAS EXTRACTION - 2.73%
2,121	*	Bill Barrett Corp		62,803
338	*	Bois d'Arc Energy, Inc		5,567
6,111	*	Brigham Exploration Co		48,338
400	*	Bronco Drilling Co, Inc		8,356
1,320	*	Callon Petroleum Co		25,529
1,756	*	Comstock Resources, Inc		52,434
461	*	Dawson Geophysical Co		14,185
1,396		Delta & Pine Land Co		41,042
560	*	Delta Petroleum Corp		9,593
2,320	*	Edge Petroleum Corp		46,354
7,076	*	Encore Acquisition Co		189,849
1,486	*	Energy Partners Ltd		28,160
6,918	*	EXCO Resources, Inc		78,865
13,718	*	Hanover Compressor Co		257,624
5,190	*	Harvest Natural Resources, Inc		70,273
3,943	*	Houston Exploration Co		241,272
3,325	*	McMoRan Exploration Co		58,520
11,948	*	Meridian Resource Corp		41,818
5,080	*	Newpark Resources, Inc		31,242
14,530	*	Parker Drilling Co		104,325
800	v*	PetroCorp		0
7,905	*	PetroHawk Energy Corp		99,603
4,238	*	Petroquest Energy, Inc		52,043
1,340	*	RAM Energy Resources, Inc		7,665
6,773	*	Rosetta Resources, Inc		112,567
3,651	*	Stone Energy Corp		169,954
1,796	*	Sulphco, Inc		12,859
3,904	*	Swift Energy Co		167,599
5,971	*	Transmontaigne, Inc		66,935
1,560	*	Trico Marine Services, Inc		53,040
1,794	*	Union Drilling, Inc		26,659
1,512	*	Veritas DGC, Inc		77,989
5,155	*	Warren Resources, Inc		74,026
491	*	Warrior Energy Service Corp		11,946
4,957	*	Whiting Petroleum Corp		207,550
		TOTAL OIL AND GAS EXTRACTION		2,556,584
PAPER AND ALLIED PRODUCTS - 0.95%
7,560		Bowater, Inc		171,990
5,052	*	Buckeye Technologies, Inc		38,597
3,830	*	Caraustar Industries, Inc		34,470
2,630		Chesapeake Corp		43,158
6,074		Glatfelter		96,394

263

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,200		Greif, Inc (Class A)	$	164,912
5,377		Longview Fibre Co		102,647
3,836	*	Mercer International, Inc		33,296
1,998	*	Playtex Products, Inc		20,839
4,200		Rock-Tenn Co (Class A)		66,990
2,180		Schweitzer-Mauduit International, Inc		47,197
5,685		Wausau Paper Corp		70,778
		TOTAL PAPER AND ALLIED PRODUCTS		891,268
PERSONAL SERVICES - 0.49%
1,660		Coinmach Service Corp		17,015
3,440	*	Coinstar, Inc		82,354
2,832		G & K Services, Inc (Class A)		97,138
6,113		Regis Corp		217,684
1,340		Unifirst Corp		46,230
		TOTAL PERSONAL SERVICES		460,421
PETROLEUM AND COAL PRODUCTS - 0.35%
594		Alon USA Energy, Inc		18,693
1,704		ElkCorp		47,320
1,350	*	Giant Industries, Inc		89,843
2,474	*	Headwaters, Inc		63,235
1,129		WD-40 Co		37,901
3,118		Western Refining, Inc		67,286
		TOTAL PETROLEUM AND COAL PRODUCTS		324,278
PRIMARY METAL INDUSTRIES - 2.19%
5,807		Belden CDT, Inc		191,921
2,670	*	Brush Engineered Materials, Inc		55,670
1,473	*	Century Aluminum Co		52,571
2,545	*	Chaparral Steel Co		183,291
579	*	General Cable Corp		20,265
3,220		Gibraltar Industries, Inc		93,380
3,889	*	Lone Star Technologies, Inc		210,084
1,421		Matthews International Corp (Class A)		48,982
848	*	Maverick Tube Corp		53,585
4,236		Mueller Industries, Inc		139,915
1,860	*	NS Group, Inc		102,449
1,106		Olympic Steel, Inc		39,141
656	*	Oregon Steel Mills, Inc		33,233
3,967		Quanex Corp		170,859
2,989		Schnitzer Steel Industries, Inc (Class A)		106,050
1,512		Steel Technologies, Inc		29,393
2,477	*	Superior Essex, Inc		74,137
2,605		Texas Industries, Inc		138,326
4,540		Tredegar Corp		71,823
1,434	*	Wheeling-Pittsburgh Corp		28,522
9,682		Worthington Industries, Inc		202,838
		TOTAL PRIMARY METAL INDUSTRIES		2,046,435
PRINTING AND PUBLISHING - 1.86%
3,659	*	ACCO Brands Corp		80,132
7,131		American Greetings Corp (Class A)		149,822
3,349		Banta Corp		155,159

264

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
12,108		Belo (A.H.) Corp Series A	$	188,885
4,198		Bowne & Co, Inc		60,031
481	*	Consolidated Graphics, Inc		25,041
1,102		Courier Corp		44,102
794		CSS Industries, Inc		22,828
3,590		Ennis, Inc		70,651
4,779		Hollinger International, Inc		38,375
2,141		John H Harland Co		93,134
5,843		Journal Communications, Inc		65,675
5,333		Journal Register Co		47,784
6,123		Lee Enterprises, Inc		165,015
2,963		Media General, Inc (Class A)		124,120
2,517	*	Playboy Enterprises, Inc (Class B)		25,120
26,767	*	Primedia, Inc		48,984
6,263		Reader's Digest Association, Inc (Class A)		87,431
1,686		Schawk, Inc		29,505
4,705	*	Scholastic Corp		122,189
2,564		Standard Register Co		30,383
2,659	*	Valassis Communications, Inc		62,726
		TOTAL PRINTING AND PUBLISHING		1,737,092
RAILROAD TRANSPORTATION - 0.09%
1,677		Florida East Coast Industries		87,757
		TOTAL RAILROAD TRANSPORTATION		87,757
REAL ESTATE - 0.38%
5,537	*	Alderwoods Group, Inc		107,750
1,325	*	California Coastal Communities, Inc		42,400
610		Orleans Homebuilders, Inc		9,913
14,880		Stewart Enterprises, Inc (Class A)		85,560
3,173	*	Trammell Crow Co		111,594
		TOTAL REAL ESTATE		357,217
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.53%
2,066	*	Applied Films Corp		58,860
8,489		Cooper Tire & Rubber Co		94,567
648	*	Deckers Outdoor Corp		24,987
3,949		Schulman (A.), Inc		90,393
145	*	Skechers U.S.A., Inc (Class A)		3,496
4,350		Spartech Corp		98,310
2,161		Titan International, Inc		40,432
4,351		Tupperware Corp		85,671
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		496,716
SECURITY AND COMMODITY BROKERS - 0.76%
424		Calamos Asset Management, Inc (Class A)		12,292
299		Cohen & Steers, Inc		7,056
722		GAMCO Investors, Inc		26,541
14,165	*	Knight Capital Group, Inc		215,733
7,352	*	LaBranche & Co, Inc		89,033
2,326	*	MarketAxess Holdings, Inc		25,609
2,830	*	Piper Jaffray Cos		173,224
1,698		Sanders Morris Harris Group, Inc		25,657
890	*	Stifel Financial Corp		31,426

265

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,050		SWS Group, Inc	$	49,446
2,456		Waddell & Reed Financial, Inc (Class A)		50,495
		TOTAL SECURITY AND COMMODITY BROKERS		706,512
SOCIAL SERVICES - 0.09%
2,859	*	Capital Senior Living Corp		29,391
2,930	*	Res-Care, Inc		58,600
		TOTAL SOCIAL SERVICES		87,991
SPECIAL TRADE CONTRACTORS - 0.52%
3,700		Comfort Systems USA, Inc		52,873
5,438	*	Dycom Industries, Inc		115,775
4,192	*	EMCOR Group, Inc		204,025
3,624	*	Insituform Technologies, Inc (Class A)		82,953
1,110	*	Layne Christensen Co		31,469
		TOTAL SPECIAL TRADE CONTRACTORS		487,095
STONE, CLAY, AND GLASS PRODUCTS - 0.07%
1,044		Apogee Enterprises, Inc		15,347
1,392	*	Cabot Microelectronics Corp		42,192
786	*	US Concrete, Inc		8,685
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		66,224
TEXTILE MILL PRODUCTS - 0.09%
1,887		Oxford Industries, Inc		74,367
981		Xerium Technologies, Inc		9,241
		TOTAL TEXTILE MILL PRODUCTS		83,608
TOBACCO PRODUCTS - 0.17%
3,492		Universal Corp		129,972
1,808		Vector Group Ltd		29,380
		TOTAL TOBACCO PRODUCTS		159,352
TRANSPORTATION BY AIR - 0.78%
142	*	Air Methods Corp		3,718
2,745	*	Alaska Air Group, Inc		108,208
2,153	*	Atlas Air Worldwide Holdings, Inc		105,583
3,156	*	Bristow Group, Inc		113,616
5,778	*	ExpressJet Holdings, Inc		39,926
3,981	*	Frontier Airlines Holdings, Inc		28,703
4,673	*	JetBlue Airways Corp		56,730
4,792	*	Mesa Air Group, Inc		47,201
747	*	PHI, Inc		24,800
4,332	*	Republic Airways Holdings, Inc		73,731
5,295		Skywest, Inc		131,316
		TOTAL TRANSPORTATION BY AIR		733,532
TRANSPORTATION EQUIPMENT - 1.95%
762		A.O. Smith Corp		35,326
762	*	AAR Corp		16,939
1,454	*	Accuride Corp		18,131
2,925	*	Aftermarket Technology Corp		72,686
6,936		American Axle & Manufacturing Holdings, Inc		118,675
1,761		Arctic Cat, Inc		34,357

266

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
9,473		ArvinMeritor, Inc	$	162,841
997	*	Aviall, Inc		47,377
4,366		Clarcor, Inc		130,063
6,392		Federal Signal Corp		96,775
801		Freightcar America, Inc		44,464
1,112		Greenbrier Cos, Inc		36,407
3,322		Group 1 Automotive, Inc		187,161
1,459	*	K&F Industries Holdings, Inc		25,868
3,282		Kaman Corp (Class A)		59,732
3,707		Monaco Coach Corp		47,079
886	*	Navistar International Corp		21,804
388		Noble International Ltd		5,556
3,846	*	Orbital Sciences Corp		62,074
1,058		Polaris Industries, Inc		45,811
878	*	Sequa Corp (Class A)		71,557
3,091		Superior Industries International, Inc		56,534
5,046	*	Tenneco, Inc		131,196
497	*	TransDigm Group, Inc		11,903
1,764	*	Triumph Group, Inc		84,672
17,193	*	Visteon Corp		123,962
4,165		Wabash National Corp		63,974
362		Winnebago Industries, Inc		11,236
		TOTAL TRANSPORTATION EQUIPMENT		1,824,160
TRANSPORTATION SERVICES - 0.33%
920		Ambassadors International, Inc		21,390
166	*	Dynamex, Inc		3,620
9,045		Lear Corp		200,889
2,055	*	Navigant International, Inc		32,942
5,194	*	RailAmerica, Inc		54,329
		TOTAL TRANSPORTATION SERVICES		313,170
TRUCKING AND WAREHOUSING - 0.62%
3,365		Arkansas Best Corp		168,957
414		Forward Air Corp		16,862
3,807		Heartland Express, Inc		68,107
1,561	*	Marten Transport Ltd		33,936
374	*	P.A.M. Transportation Services, Inc		10,805
150	*	Patriot Transportation Holding, Inc		13,017
2,041	*	SCS Transportation, Inc		56,189
6,654	*	SIRVA, Inc		43,051
729	*	U.S. Xpress Enterprises, Inc (Class A)		19,698
467	*	USA Truck, Inc		8,322
6,836		Werner Enterprises, Inc		138,566
		TOTAL TRUCKING AND WAREHOUSING		577,510
WATER TRANSPORTATION - 0.23%
2,125	*	Gulfmark Offshore, Inc		54,889
1,178		Horizon Lines, Inc		18,872
3,108	*	Hornbeck Offshore Services, Inc		110,396
1,410		Maritrans, Inc		35,109
		TOTAL WATER TRANSPORTATION		219,266

267

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
WHOLESALE TRADE-DURABLE GOODS - 1.08%
4,069		Agilysys, Inc	$	73,242
1,102		Barnes Group, Inc		21,985
1,640		BlueLinx Holdings, Inc		21,369
3,857		Building Material Holding Corp		107,495
703		Castle (A.M.) & Co		22,672
1,636	*	Digi International, Inc		20,499
2,512	*	Genesis Microchip, Inc		29,039
15,060		IKON Office Solutions, Inc		189,756
6,478	*	Insight Enterprises, Inc		123,406
581		Lawson Products, Inc		22,903
1,513	*	Merge Technologies, Inc		18,625
5,305		Owens & Minor, Inc		151,723
7,219		PEP Boys-Manny Moe & Jack		84,679
3,460		Ryerson Tull, Inc		93,420
1,906	*	West Marine, Inc		25,693
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,006,506
WHOLESALE TRADE-NONDURABLE GOODS - 1.22%
12,617		Alliance One International, Inc		56,019
710	*	Central European Distribution Corp		17,864
1,305	*	Core-Mark Holding Co, Inc		46,719
4,109	*	Hain Celestial Group, Inc		105,848
1,216		Kenneth Cole Productions, Inc (Class A)		27,153
1,636		K-Swiss, Inc (Class A)		43,681
233	*	Maui Land & Pineapple Co, Inc		8,807
1,612		Myers Industries, Inc		27,710
1,748		Nash Finch Co		37,215
2,975		Nu Skin Enterprises, Inc (Class A)		44,179
4,629	*	Performance Food Group Co		140,629
1,097	*	Perry Ellis International, Inc		27,765
2,767	*	School Specialty, Inc		88,129
1,790	*	Smart & Final, Inc		30,144
3,789	*	Source Interlink Cos, Inc		45,089
2,745		Spartan Stores, Inc		40,159
5,160		Stride Rite Corp		68,060
12,779	*	Terra Industries, Inc		81,402
4,224	*	United Stationers, Inc		208,328
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,144,900
		TOTAL COMMON STOCKS		91,232,554
		(Cost $82,076,381)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.66%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.66%
$     620,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		620,000
		TOTAL SHORT-TERM INVESTMENTS		620,000
		(Cost $619,832)
		TOTAL PORTFOLIO - 98.17%		91,852,554
		(Cost $82,696,213)

268

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
				VALUE
		OTHER ASSETS & LIABILITIES, NET - 1.83%	$	1,715,317
		NET ASSETS - 100.00%	$	93,567,871
	*	Non-income producing
	b	In bankruptcy
	v	Security valued at fair value
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

269

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP BLEND INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 98.20%
AGRICULTURAL PRODUCTION-CROPS - 0.04%
5,761		Chiquita Brands International, Inc	$	79,387
		TOTAL AGRICULTURAL PRODUCTION-CROPS		79,387
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.11%
5,706		Pilgrim's Pride Corp		147,215
49		Seaboard Corp		62,720
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		209,935
AMUSEMENT AND RECREATION SERVICES - 0.83%
7,430	*	Bally Technologies, Inc		122,372
5,202	*	Bally Total Fitness Holding Corp		35,270
2,865	*	Century Casinos, Inc		30,684
1,232		Churchill Downs, Inc		46,138
2,056		Dover Downs Gaming & Entertainment, Inc		40,380
2,293		Dover Motorsports, Inc		13,460
3,226	*	Lakes Entertainment, Inc		39,002
4,416	*	Leapfrog Enterprises, Inc		44,602
4,294	*	Life Time Fitness, Inc		198,683
8,985	*	Live Nation, Inc		182,935
4,855	*	Magna Entertainment Corp (Class A)		25,537
6,660	*	Marvel Entertainment, Inc		133,200
2,899	*	MTR Gaming Group, Inc		27,193
3,795	*	Multimedia Games, Inc		38,443
6,777	*	Pinnacle Entertainment, Inc		207,715
10,486	*	Six Flags, Inc		58,931
2,285		Speedway Motorsports, Inc		86,236
9,851		Westwood One, Inc		73,883
3,814	*	WMS Industries, Inc		104,465
2,999		World Wrestling Entertainment, Inc		50,653
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,559,782
APPAREL AND ACCESSORY STORES - 1.60%
7,818	*	Aeropostale, Inc		225,862
3,345		Bebe Stores, Inc		51,580
3,886		Brown Shoe Co, Inc		132,435
1,308		Buckle, Inc		54,766
1,827	*	Cache, Inc		31,680
6,858	*	Carter's, Inc		181,257
4,168	*	Casual Male Retail Group, Inc		41,888
4,241		Cato Corp (Class A)		109,630
2,367	*	Charlotte Russe Holding, Inc		56,666
16,937	*	Charming Shoppes, Inc		190,372
3,189	*	Children's Place Retail Stores, Inc		191,499
5,181		Christopher & Banks Corp		150,249
890	*	Citi Trends, Inc		37,994

270

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
816		DEB Shops, Inc	$	19,674
6,463	*	Dress Barn, Inc		163,837
2,287	*	DSW, Inc		83,293
5,826		Finish Line, Inc (Class A)		68,922
6,242	*	HOT Topic, Inc		71,845
3,160	*	Jo-Ann Stores, Inc		46,294
2,539	*	JOS A Bank Clothiers, Inc		60,834
3,022	*	New York & Co, Inc		29,525
10,320	*	Pacific Sunwear Of California, Inc		185,038
9,517	*	Payless Shoesource, Inc		258,577
1,212	*	Shoe Carnival, Inc		28,918
3,814		Stage Stores, Inc		125,862
686	*	Syms Corp		12,622
3,125		Talbots, Inc		57,656
10,097	*	The Wet Seal, Inc		49,273
4,763	*	Too, Inc		182,852
2,938	*	Under Armour, Inc		125,218
		TOTAL APPAREL AND ACCESSORY STORES		3,026,118
APPAREL AND OTHER TEXTILE PRODUCTS - 0.68%
1,859	*	Columbia Sportswear Co		84,138
3,700	v*	DHB Industries, Inc		7,104
2,962	*	Guess ?, Inc		123,664
4,740	*	Gymboree Corp		164,762
4,472	*	Hartmarx Corp		26,832
3,690		Kellwood Co		108,006
2,021	*	Maidenform Brands, Inc		24,919
7,791		Phillips-Van Heusen Corp		297,305
17,242	*	Quiksilver, Inc		210,008
4,607		Russell Corp		83,663
1,866	*	True Religion Apparel, Inc		33,028
6,443	*	Warnaco Group, Inc		120,355
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,283,784
AUTO REPAIR, SERVICES AND PARKING - 0.47%
1,462	*	Amerco, Inc		147,165
1,653		Bandag, Inc		60,483
1,559		Central Parking Corp		24,944
3,570	*	Dollar Thrifty Automotive Group, Inc		160,900
2,247	*	Midas, Inc		41,345
1,673		Monro Muffler, Inc		54,473
7,617	*	PHH Corp		209,772
722	*	Standard Parking Corp		19,552
5,743	*	Wright Express Corp		165,054
		TOTAL AUTO REPAIR, SERVICES AND PARKING		883,688
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.22%
1,223	*	America's Car-Mart, Inc		24,839
1,796	*	Asbury Automotive Group, Inc		37,608
6,324	*	CSK Auto Corp		75,698
2,129		Lithia Motors, Inc (Class A)		64,551
2,331	*	MarineMax, Inc		61,142
2,933	*	Rush Enterprises, Inc (Class A)		53,293
4,304		Sonic Automotive, Inc		95,463
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		412,594

271

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.09%
2,125	*	Builders FirstSource, Inc	$	43,265
3,043	*	Central Garden & Pet Co		131,001
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		174,266
BUSINESS SERVICES - 10.65%
8,696	*	@Road, Inc		48,002
6,848	*	24/7 Real Media, Inc		60,125
55,320	*	3Com Corp		283,238
1,886	*	3D Systems Corp		37,890
6,177		Aaron Rents, Inc		166,038
6,055		ABM Industries, Inc		103,540
3,940	*	Acacia Research (Acacia Technologies)		55,396
1,897	*	Access Integrated Technologies, Inc		18,610
7,967	*	Actuate Corp		32,187
3,221		Administaff, Inc		115,344
3,175	*	Advent Software, Inc		114,522
4,533		Advo, Inc		111,557
7,980	*	Agile Software Corp		50,593
3,264	*	Altiris, Inc		58,882
3,667	*	American Reprographics Co		132,929
4,594	*	AMN Healthcare Services, Inc		93,258
2,319	*	Ansoft Corp		47,493
4,702	*	Ansys, Inc		224,850
10,748	*	aQuantive, Inc		272,247
4,321		Arbitron, Inc		165,624
10,407	*	Ariba, Inc		85,650
15,757	*	Art Technology Group, Inc		46,956
6,359	*	Aspen Technology, Inc		83,430
2,364	*	Asset Acceptance Capital Corp		46,807
3,789	*	Audible, Inc		34,442
6,971	*	Avocent Corp		182,989
1,490	*	Bankrate, Inc		56,262
985	*	Barrett Business Services		18,075
25,922	*	BearingPoint, Inc		216,967
16,917	*	BISYS Group, Inc		231,763
6,157		Blackbaud, Inc		139,764
3,907	*	Blackboard, Inc		113,147
2,042	*	Blue Coat Systems, Inc		34,428
11,240	*	Borland Software Corp		59,347
2,907	*	Bottomline Technologies, Inc		23,663
6,009		Brady Corp (Class A)		221,371
4,311	*	CACI International, Inc (Class A)		251,461
6,593		Catalina Marketing Corp		187,637
8,421	*	CBIZ, Inc		62,400
11,192	*	Chordiant Software, Inc		33,912
8,025	*	Ciber, Inc		52,885
1,224	*	Clayton Holdings, Inc		15,973
1,447	*	Click Commerce, Inc		28,549
65,616	*	CMGI, Inc		79,395
21,178	*	CNET Networks, Inc		169,000
2,961	*	Cogent Communications Group, Inc		27,745

272

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,105	*	Cogent, Inc	$	92,002
6,534		Cognex Corp		170,080
1,323		Computer Programs & Systems, Inc		52,867
2,116	*	COMSYS IT Partners, Inc		31,994
4,285	*	Concur Technologies, Inc		66,289
3,981	*	Convera Corp		26,752
2,384	*	CoStar Group, Inc		142,635
4,317	*	Covansys Corp		54,265
24	b,v*	Cross Media Marketing Corp		(0	)
6,886	*	CSG Systems International, Inc		170,360
4,283	*	Cybersource Corp		50,111
1,691	*	DealerTrack Holdings, Inc		37,388
7,235		Deluxe Corp		126,468
5,505	*	Dendrite International, Inc		50,866
4,938	*	Digital Insight Corp		169,324
5,595	*	Digital River, Inc		225,982
18,611	*	Earthlink, Inc		161,171
4,362	*	Echelon Corp		32,671
6,387	*	Eclipsys Corp		115,988
2,546	*	eCollege.com, Inc		53,822
6,576	*	eFunds Corp		145,001
2,459	*	Electro Rent Corp		39,393
2,956	*	Emageon, Inc		43,128
7,752	*	Epicor Software Corp		81,629
2,000	*	EPIQ Systems, Inc		33,280
4,043	*	Equinix, Inc		221,799
2,809	*	eSpeed, Inc (Class A)		23,399
5,229	*	FalconStor Software, Inc		36,446
5,843	*	Filenet Corp		157,352
1,128	*	First Advantage Corp		26,237
1,964	*	Forrester Research, Inc		54,953
1,631	*	FTD Group, Inc		22,019
7,981	*	Gartner, Inc (Class A)		113,330
3,192	*	Gerber Scientific, Inc		41,528
3,830		Gevity HR, Inc		101,686
4,683	*	Global Cash Access, Inc		73,195
1,713	*	H&E Equipment Services, Inc		50,448
3,849		Healthcare Services Group		80,637
1,969	*	Heartland Payment Systems, Inc		54,896
2,693	*	Heidrick & Struggles International, Inc		91,131
3,352	*	Hudson Highland Group, Inc		36,168
7,808	*	Hypercom Corp		73,005
8,335	*	Hyperion Solutions Corp		230,046
1,998	*	i2 Technologies, Inc		25,315
958	*	ICT Group, Inc		23,500
3,338	*	iGate Corp		21,330
3,303	*	IHS, Inc		97,868
2,821	*	Infocrossing, Inc		32,583
12,394	*	Informatica Corp		163,105
4,606	*	Infospace, Inc		104,418
4,348		infoUSA, Inc		44,828
1,999	*	Innovative Solutions & Support, Inc		28,106
1,498		Integral Systems, Inc		40,191
5,047	*	Interactive Data Corp		101,394

273

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,122	*	Intergraph Corp	$	129,802
43,199	*	Internap Network Services Corp		45,359
5,365	*	Internet Capital Group, Inc		48,285
5,489	*	Internet Security Systems, Inc		103,468
1,688		Interpool, Inc		37,507
5,863	*	Interwoven, Inc		50,305
4,059	*	inVentiv Health, Inc		116,818
9,174	*	Ipass, Inc		51,374
11,219		Jack Henry & Associates, Inc		220,566
4,424	*	JDA Software Group, Inc		62,069
2,870	*	Jupitermedia Corp		37,310
4,686	*	Kanbay International, Inc		68,134
6,237	*	Keane, Inc		77,962
2,746		Kelly Services, Inc (Class A)		74,609
2,212	*	Kenexa Corp		70,452
4,291	*	Kforce, Inc		66,468
9,929	*	KFX, Inc		151,715
2,056	*	Knot, Inc		43,032
5,990	*	Korn/Ferry International		117,344
4,608	*	Kronos, Inc		166,856
7,577	*	Labor Ready, Inc		171,619
17,587	*	Lawson Software, Inc		117,833
8,444	*	Lionbridge Technologies		46,695
1,033	*	Liquidity Services, Inc		16,084
2,590	*	LoJack Corp		48,847
5,060	*	Magma Design Automation, Inc		37,191
3,843	*	Manhattan Associates, Inc		77,974
2,543	*	Mantech International Corp (Class A)		78,477
3,018	*	Mapinfo Corp		39,385
3,018	*	Marchex, Inc		49,586
1,670	*	Marlin Business Services, Inc		37,675
11,131	*	Mentor Graphics Corp		144,480
1,431	*	MicroStrategy, Inc		139,551
5,040	*	Midway Games, Inc		40,774
14,557	*	Move, Inc		79,772
14,709	*	MPS Group, Inc		221,518
2,809	*	MRO Software, Inc		56,377
4,629	*	NCO Group, Inc		122,391
2,801	*	Neoware, Inc		34,424
3,870	*	Ness Technologies, Inc		41,602
5,686	*	NetFlix, Inc		154,716
5,886	*	NetIQ Corp		71,750
2,183	*	Netratings, Inc		30,322
3,653	*	Netscout Systems, Inc		32,585
5,000	*	NIC, Inc		36,150
17,955	*	Nuance Communications, Inc		180,627
3,679	*	On Assignment, Inc		33,810
3,238	*	Online Resources Corp		33,481
2,926	*	Open Solutions, Inc		77,861
1,822	*	Opnet Technologies, Inc		23,613
11,559	*	Opsware, Inc		95,246
4,798	*	Packeteer, Inc		54,409
15,748	*	Parametric Technology Corp		200,157
2,975	*	PDF Solutions, Inc		36,920

274

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,722		Pegasystems, Inc	$	11,055
2,617	*	PeopleSupport, Inc		35,225
2,481	*	Perficient, Inc		30,665
12,179	*	Perot Systems Corp (Class A)		176,352
4,788	*	Phase Forward, Inc		55,158
2,253	*	Portfolio Recovery Associates, Inc		102,962
2,527	*	PRA International		56,276
10,101	*	Premiere Global Services, Inc		76,263
5,813	*	Progress Software Corp		136,082
2,145		QAD, Inc		16,624
2,316		Quality Systems, Inc		85,275
9,665	*	Quest Software, Inc		135,697
3,367	*	Radiant Systems, Inc		35,589
2,838	*	Radisys Corp		62,322
15,083	*	RealNetworks, Inc		161,388
7,833	*	Redback Networks, Inc		143,657
1,283		Renaissance Learning, Inc		17,385
9,781	*	Rent-A-Center, Inc		243,156
3,739	*	Rewards Network, Inc		30,548
1,912	*	RightNow Technologies, Inc		31,892
4,270		Rollins, Inc		83,863
10,766	*	RSA Security, Inc		292,728
9,816	*	S1 Corp		47,117
3,896	*	SafeNet, Inc		69,037
11,669	*	Sapient Corp		61,846
6,811	*	Secure Computing Corp		58,575
1,812	*	SI International, Inc		55,556
8,255	*	Sitel Corp		32,360
2,843	*	Smith Micro Software, Inc		45,545
3,651	*	Sohu.com, Inc		94,159
62	b*	SONICblue, Inc		0
9,097	*	SonicWALL, Inc		81,782
35,793	*	Sonus Networks, Inc		177,175
8,541	*	Sotheby's Holdings, Inc (Class A)		224,201
8,261	*	Spherion Corp		75,340
2,836	*	SPSS, Inc		91,149
5,403	*	SRA International, Inc (Class A)		143,882
1,444	*	SSA Global Technologies, Inc		27,985
1,631		Startek, Inc		24,383
4,078		Stellent, Inc		38,945
1,577	*	Stratasys, Inc		46,458
12,640	*	Sybase, Inc		245,216
4,128	*	SYKES Enterprises, Inc		66,708
1,727	*	SYNNEX Corp		32,744
997		Syntel, Inc		20,399
10,102	*	Take-Two Interactive Software, Inc		107,687
2,279	*	TAL International Group, Inc		54,924
1,921	*	Taleo Corp		22,649
4,532		Talx Corp		99,115
4,620	*	TeleTech Holdings, Inc		58,489
2,601		TheStreet.com, Inc		33,345
8,999	*	THQ, Inc		194,378
30,031	*	TIBCO Software, Inc		211,719
1,169	*	Tiens Biotech Group USA, Inc		5,003

275

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,405	*	TNS, Inc	$	70,449
3,624	*	TradeStation Group, Inc		45,916
5,285	*	Transaction Systems Architects, Inc		220,332
426	*	Travelzoo, Inc		12,925
5,878	*	Trizetto Group, Inc		86,936
3,266	*	Ultimate Software Group, Inc		62,577
8,996		United Online, Inc		107,952
4,241	*	Universal Compression Holdings, Inc		267,056
8,833	*	VA Software Corp		34,272
14,407	*	Valueclick, Inc		221,147
3,621	*	Vasco Data Security International		30,235
1,788	*	Verint Systems, Inc		52,192
1,093	*	Vertrue, Inc		47,032
3,091		Viad Corp		96,748
3,961	*	Vignette Corp		57,751
1,179	*	Volt Information Sciences, Inc		54,941
5,897	*	WebEx Communications, Inc		209,579
7,333	*	webMethods, Inc		72,377
6,920	*	Websense, Inc		142,137
2,467	*	WebSideStory, Inc		30,097
10,658	*	Wind River Systems, Inc		94,856
4,733	*	Witness Systems, Inc		95,465
		TOTAL BUSINESS SERVICES		20,125,064
CHEMICALS AND ALLIED PRODUCTS - 6.09%
3,047	*	Acadia Pharmaceuticals, Inc		25,717
1,179	*	Adams Respiratory Therapeutics, Inc		52,607
2,126	*	Adeza Biomedical Corp		29,807
6,403	*	Adolor Corp		160,139
1,126	*	Advanced Magnetics, Inc		34,028
7,699	*	ADVENTRX Pharmaceuticals, Inc		24,406
3,769	*	Albany Molecular Research, Inc		40,253
4,457	*	Alexion Pharmaceuticals, Inc		160,987
12,752	*	Alkermes, Inc		241,268
4,517	*	Alnylam Pharmaceuticals, Inc		68,116
5,956		Alpharma, Inc (Class A)		143,182
6,302	*	American Oriental Bioengineering, Inc		34,850
2,500		American Vanguard Corp		38,700
4,021	*	Anadys Pharmaceuticals, Inc		11,741
10,485	*	Andrx Corp		243,147
3,352		Arch Chemicals, Inc		120,840
6,454	*	Arena Pharmaceuticals, Inc		74,737
5,511	*	Array Biopharma, Inc		47,395
5,263	*	Atherogenics, Inc		68,682
3,053	*	Auxilium Pharmaceuticals, Inc		23,752
4,320	*	AVANIR Pharmaceuticals		29,549
7,110	*	AVI BioPharma, Inc		26,662
1,545		Balchem Corp		34,762
2,763	*	Bentley Pharmaceuticals, Inc		30,282
3,244	*	BioCryst Pharmaceuticals, Inc		46,487
5,538	*	Bioenvision, Inc		29,518
11,797	*	BioMarin Pharmaceuticals, Inc		169,523
2,063	*	Bradley Pharmaceuticals, Inc		21,043
5,399		Calgon Carbon Corp		32,880

276

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,575		Cambrex Corp	$	74,467
1,287	*	Caraco Pharmaceutical Laboratories Ltd		11,776
6,422	*	Cell Genesys, Inc		32,238
7,773		CF Industries Holdings, Inc		110,843
2,479	*	Chattem, Inc		75,287
2,537	*	Coley Pharmaceutical Group, Inc		29,302
3,488	*	Combinatorx, Inc		30,660
4,773	*	Connetics Corp		56,130
3,821	*	Conor Medsystems, Inc		105,421
2,286	*	Cotherix, Inc		19,682
7,669	*	Cubist Pharmaceuticals, Inc		193,105
5,001	*	Cypress Bioscience, Inc		30,706
3,636	*	Cytokinetics, Inc		22,870
9,860	*	Dendreon Corp		47,722
3,496		Diagnostic Products Corp		203,362
2,458	*	Digene Corp		95,223
7,846	*	Durect Corp		30,364
3,544	*	Elizabeth Arden, Inc		63,367
3,362	*	Emisphere Technologies, Inc		28,678
9,023	*	Encysive Pharmaceuticals, Inc		62,529
6,287	*	Enzon Pharmaceuticals, Inc		47,404
5,843		Ferro Corp		93,254
3,873	*	Genitope Corp		24,477
18,843	*	Genta, Inc		30,903
4,892		Georgia Gulf Corp		122,398
8,700	*	Geron Corp		60,030
1,437	*	GTx, Inc		13,077
4,126		H.B. Fuller Co		179,770
4,061	*	Hana Biosciences, Inc		36,833
15,910	*	Hercules, Inc		242,787
1,419	*	Hi-Tech Pharmacal Co, Inc		23,513
18,568	*	Human Genome Sciences, Inc		198,678
3,492	*	Idenix Pharmaceuticals, Inc		32,825
9,540	*	Immucor, Inc		183,454
6,744	*	Indevus Pharmaceuticals, Inc		36,890
1,849		Innospec, Inc		47,002
635		Inter Parfums, Inc		10,935
3,680	*	InterMune, Inc		60,536
3,912	*	Inverness Medical Innovations, Inc		110,436
1,305		Koppers Holdings, Inc		26,087
530		Kronos Worldwide, Inc		15,502
5,467	*	KV Pharmaceutical Co (Class A)		102,014
4,030		MacDermid, Inc		116,064
2,452		Mannatech, Inc		30,920
3,514	*	MannKind Corp		74,883
4,624	*	Martek Biosciences Corp		133,865
17,480	*	Medarex, Inc		167,983
7,191	*	Medicines Co		140,584
7,777		Medicis Pharmaceutical Corp (Class A)		186,648
1,640	*	Medifast, Inc		29,307
2,971		Meridian Bioscience, Inc		74,126
2,910	*	Metabasis Therapeutics, Inc		22,203
10,900	*	MGI Pharma, Inc		234,350
2,879		Minerals Technologies, Inc		149,708

277

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,053	*	Momenta Pharmaceuticals, Inc	$	38,804
6,003	*	Myogen, Inc		174,087
8,511	*	Nabi Biopharmaceuticals		48,853
2,967	*	Nastech Pharmaceutical Co, Inc		46,879
7,788	*	NBTY, Inc		186,211
5,181	*	Neurocrine Biosciences, Inc		54,919
2,243	*	New River Pharmaceuticals, Inc		63,925
2,435		NewMarket Corp		119,461
907		NL Industries, Inc		9,750
3,678	*	Northfield Laboratories, Inc		36,375
8,681	*	Novavax, Inc		43,752
3,171	*	Noven Pharmaceuticals, Inc		56,761
6,208	*	NPS Pharmaceuticals, Inc		30,295
7,350	*	Nuvelo, Inc		122,377
10,222		Olin Corp		183,280
4,047	*	OM Group, Inc		124,850
5,840	*	Omnova Solutions, Inc		33,171
5,698	*	Onyx Pharmaceuticals, Inc		95,897
6,900	*	OraSure Technologies, Inc		65,688
8,040	*	OSI Pharmaceuticals, Inc		264,998
3,028	*	Pacific Ethanol, Inc		70,007
5,032	*	Pain Therapeutics, Inc		42,017
7,106	*	Panacos Pharmaceuticals, Inc		39,225
4,834	*	Par Pharmaceutical Cos, Inc		89,236
3,835	*	Parexel International Corp		110,640
1,742	*	Parlux Fragrances, Inc		16,880
3,459	*	Penwest Pharmaceuticals Co		75,510
24,731	*	Peregrine Pharmaceuticals, Inc		39,322
11,273		Perrigo Co		181,495
2,648	*	PetMed Express, Inc		29,049
3,672	*	Pharmion Corp		62,534
1,686	*	Pioneer Cos, Inc		45,994
13,267	*	PolyOne Corp		116,484
3,397	*	Pozen, Inc		23,915
4,711	*	Prestige Brands Holdings, Inc		46,969
3,051	*	Progenics Pharmaceuticals, Inc		73,407
4,245	*	Quidel Corp		40,328
3,030	*	Renovis, Inc		46,389
19,444	*	Revlon, Inc (Class A)		24,499
4,970	*	Rockwood Holdings, Inc		114,360
6,279	*	Salix Pharmaceuticals Ltd		77,232
6,492	*	Santarus, Inc		43,172
4,111	*	Sciele Pharma, Inc		95,334
6,675		Sensient Technologies Corp		139,574
5,016	*	Serologicals Corp		157,703
5,680	*	Sirna Therapeutics, Inc		32,376
3,317	*	Solexa, Inc		28,195
662	*	Somaxon Pharmaceuticals, Inc		10,334
925		Stepan Co		29,212
7,479	*	SuperGen, Inc		27,149
2,250	*	SurModics, Inc		81,248
3,566	*	Tanox, Inc		49,318
6,085		Tronox, Inc		80,139
7,195		UAP Holding Corp		156,923

278

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,332	*	United Therapeutics Corp	$	192,490
1,441	*	USANA Health Sciences, Inc		54,614
12,110		USEC, Inc		143,504
13,114		Valeant Pharmaceuticals International		221,889
9,696	*	Viropharma, Inc		83,580
978	*	Visicu, Inc		17,262
9,617	*	WR Grace & Co		112,519
2,318	*	Xenoport, Inc		41,979
5,303	*	Zymogenetics, Inc		100,598
		TOTAL CHEMICALS AND ALLIED PRODUCTS		11,513,175
COAL MINING - 0.28%
7,305	*	Alpha Natural Resources, Inc		143,324
16,061	*	International Coal Group, Inc		115,479
2,356	*	James River Coal Co		62,410
2,591		Penn Virginia Corp		181,059
949	*	Westmoreland Coal Co		22,510
		TOTAL COAL MINING		524,782
COMMUNICATIONS - 2.27%
5,928		Alaska Communications Systems Group, Inc		74,989
4,573		Anixter International, Inc		217,035
756		Atlantic Tele-Network, Inc		15,747
2,446	*	Audiovox Corp (Class A)		33,412
6,896	*	Brightpoint, Inc		93,303
2,327	*	Cbeyond Communications, Inc		50,752
2,700		Centennial Communications Corp		14,040
56,091	*	Charter Communications, Inc (Class A)		63,383
34,855	*	Cincinnati Bell, Inc		142,905
5,364		Citadel Broadcasting Corp		47,740
3,106		Commonwealth Telephone Enterprises, Inc		102,995
3,266		Consolidated Communications Holdings, Inc		54,314
41,410	*	Covad Communications Group, Inc		83,234
6,169	*	Cox Radio, Inc (Class A)		88,957
1,722	*	Crown Media Holdings, Inc (Class A)		7,095
2,817		CT Communications, Inc		64,425
6,833	*	Cumulus Media, Inc (Class A)		72,908
20,982	*	Dobson Communications Corp (Class A)		162,191
4,774	*	Emmis Communications Corp (Class A)		74,665
4,678		Entercom Communications Corp		122,376
9,568	*	Entravision Communications Corp (Class A)		81,998
1,326	*	Eschelon Telecom, Inc		20,513
4,031		Fairpoint Communications, Inc		58,046
7,711	*	First Avenue Networks, Inc		83,896
975	*	Fisher Communications, Inc		41,077
20,554	*	Foundry Networks, Inc		219,106
7,674	*	General Communication, Inc (Class A)		94,544
3,102		Golden Telecom, Inc		78,636
6,205		Gray Television, Inc		35,927
7,585	*	IDT Corp (Class B)		104,597
3,098	*	InPhonic, Inc		19,517
4,202		Iowa Telecommunications Services, Inc		79,502
2,359	*	iPCS, Inc		113,940
6,967	*	j2 Global Communications, Inc		217,510

279

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,839	*	Lightbridge, Inc	$	49,715
4,051	*	Lin TV Corp (Class A)		30,585
2,409	*	Lodgenet Entertainment Corp		44,928
5,689	*	Mastec, Inc		75,152
8,307	*	Mediacom Communications Corp		51,753
2,264		North Pittsburgh Systems, Inc		62,396
3,926	*	Novatel Wireless, Inc		40,752
1,849	*	NTELOS Holdings Corp		26,718
7,647	*	Pegasus Wireless Corp		68,364
6,792	*	Price Communications Corp		115,124
10,763	*	Radio One, Inc (Class D)		79,646
4,097	*	RCN Corp		102,138
5	v*	RCN Corp Wts		0
1,614		Salem Communications Corp (Class A)		20,998
1,174	*	SAVVIS, Inc		34,762
1,087		Shenandoah Telecom Co		51,089
6,413		Sinclair Broadcast Group, Inc (Class A)		54,895
6,311	*	Spanish Broadcasting System, Inc (Class A)		32,249
1,965		SureWest Communications		37,964
3,340	*	Syniverse Holdings, Inc		49,098
4,077	*	Talk America Holdings, Inc		25,237
5,535	*	Terremark Worldwide, Inc		19,926
10,839	*	TiVo, Inc		77,499
11,541	*	Ubiquitel, Inc		119,334
4,015		USA Mobility, Inc		66,649
5,699		Valor Communications Group, Inc		65,253
4,366	*	Vonage Holdings Corp		37,504
8,012	*	Wireless Facilities, Inc		22,033
		TOTAL COMMUNICATIONS		4,297,036
DEPOSITORY INSTITUTIONS - 9.66%
1,659		1st Source Corp		56,124
980		Abington Community Bancorp, Inc		14,680
1,652	*	ACE Cash Express, Inc		48,354
2,123		Alabama National Bancorp		144,682
2,899		Amcore Financial, Inc		84,970
1,541		AmericanWest Bancorp		34,904
1,749		Ameris Bancorp		40,472
2,777		Anchor Bancorp Wisconsin, Inc		83,782
1,663		Arrow Financial Corp		45,616
1,088		Bancfirst Corp		48,688
1,492	*	Bancorp, Inc		37,315
1,379		BancTrust Financial Group, Inc		32,365
8,069		Bank Mutual Corp		98,603
1,880		Bank of Granite Corp		39,160
1,568		Bank of the Ozarks, Inc		52,214
6,442		BankAtlantic Bancorp, Inc (Class A)		95,599
3,261		BankFinancial Corp		56,415
4,375		BankUnited Financial Corp (Class A)		133,525
1,714		Banner Corp		66,058
1,133		Berkshire Hills Bancorp, Inc		40,199
2,829	*	BFC Financial Corp		19,577
4,846		Boston Private Financial Holdings, Inc		135,203
8,913		Brookline Bancorp, Inc		122,732

280

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,278		Cadence Financial Corp	$	28,461
1,133		Camden National Corp		45,207
1,792		Capital City Bank Group, Inc		54,118
1,323		Capital Corp of the West		42,336
1,956		Capitol Bancorp Ltd		76,186
3,397		Cardinal Financial Corp		39,473
3,321		Cascade Bancorp		94,682
549		Cass Information Systems, Inc		26,731
7,123		Cathay General Bancorp		259,135
8,415	*	Centennial Bank Holdings, Inc		87,011
1,695		Center Financial Corp		40,070
1,273		Centerstate Banks of Florida, Inc		26,096
4,268		Central Pacific Financial Corp		165,172
696		Charter Financial Corp		27,464
3,658		Chemical Financial Corp		111,935
6,508		Chittenden Corp		168,232
6,070		Citizens Banking Corp		148,169
1,188		Citizens First Bancorp, Inc		31,731
1,216		City Bank		56,739
2,582		City Holding Co		93,313
2,444		Clifton Savings Bancorp, Inc		26,469
2,302		Coastal Financial Corp		30,018
2,129		CoBiz, Inc		47,945
1,399		Columbia Bancorp		35,073
2,264		Columbia Banking System, Inc		84,628
6,798		Commercial Capital Bancorp, Inc		107,069
818	*	Community Bancorp		25,423
707		Community Bancorp, Inc		29,913
4,322		Community Bank System, Inc		87,175
3,336		Community Banks, Inc		86,746
2,263		Community Trust Bancorp, Inc		79,047
5,398		Corus Bankshares, Inc		141,320
8,419		CVB Financial Corp		131,842
3,741		Dime Community Bancshares		50,765
1,355	*	Dollar Financial Corp		24,390
2,816		Downey Financial Corp		191,066
1,134		Enterprise Financial Services Corp		28,860
4,958	*	Euronet Worldwide, Inc		190,238
1,086		Farmers Capital Bank Corp		35,566
3,368		Fidelity Bankshares, Inc		107,170
1,740		First Bancorp		36,540
10,173		First Bancorp		94,609
1,993		First Busey Corp (Class A)		40,797
4,321		First Charter Corp		105,994
10,024		First Commonwealth Financial Corp		127,305
2,767		First Community Bancorp, Inc		163,474
1,423		First Community Bancshares, Inc		46,945
4,682		First Financial Bancorp		69,809
2,832		First Financial Bankshares, Inc		103,481
1,903		First Financial Corp		57,109
1,631		First Financial Holdings, Inc		52,192
1,926		First Indiana Corp		50,134
2,559		First Merchants Corp		62,209
6,968		First Midwest Bancorp, Inc		258,373

281

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
15,420		First Niagara Financial Group, Inc	$	216,188
1,051		First Oak Brook Bancshares, Inc		38,887
2,085		First Place Financial Corp		47,976
359	*	First Regional Bancorp		31,592
3,017		First Republic Bank		138,179
1,154		First South Bancorp, Inc		39,501
2,337		First State Bancorporation		55,574
2,333	*	FirstFed Financial Corp		134,544
10,957		FirstMerit Corp		229,440
1,985		Flag Financial Corp		38,608
5,443		Flagstar Bancorp, Inc		86,870
2,623		Flushing Financial Corp		47,109
8,166		FNB Corp		128,778
1,124		FNB Corp		41,588
3,310	*	Franklin Bank Corp		66,829
9,214		Fremont General Corp		171,012
3,837		Frontier Financial Corp		130,420
1,720		GB&T Bancshares, Inc		37,427
4,432		Glacier Bancorp, Inc		129,725
1,366		Great Southern Bancorp, Inc		41,704
7,258		Greater Bay Bancorp		208,667
1,083		Greene County Bancshares, Inc		33,530
3,825		Hancock Holding Co		214,200
5,629		Hanmi Financial Corp		109,428
2,999		Harbor Florida Bancshares, Inc		111,383
4,133		Harleysville National Corp		87,661
2,032		Heartland Financial USA, Inc		54,153
1,492		Heritage Commerce Corp		36,987
877		Home Federal Bancorp, Inc		11,980
1,468		Horizon Financial Corp		40,267
1,314		IBERIABANK Corp		75,607
2,206		Independent Bank Corp		71,629
3,297		Independent Bank Corp		86,711
2,431		Integra Bank Corp		52,874
2,428		Interchange Financial Services Corp		54,630
6,192		International Bancshares Corp		170,156
683	*	Intervest Bancshares Corp		27,661
7,437	*	Investors Bancorp, Inc		100,771
2,709		Irwin Financial Corp		52,528
779		ITLA Capital Corp		40,960
3,167		Kearny Financial Corp		46,872
4,158		KNBT Bancorp, Inc		68,690
2,521		Lakeland Bancorp, Inc		39,504
1,776		Lakeland Financial Corp		43,139
2,160		Macatawa Bank Corp		50,522
4,853		MAF Bancorp, Inc		207,903
1,915		MainSource Financial Group, Inc		33,378
3,252		MB Financial, Inc		114,991
2,354		MBT Financial Corp		37,664
1,133		Mercantile Bank Corp		45,150
654		MetroCorp Bancshares, Inc		19,149
3,372		Mid-State Bancshares		94,416
2,367		Midwest Banc Holdings, Inc		52,666
2,838		Nara Bancorp, Inc		53,212

282

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
559		NASB Financial, Inc	$	18,877
6,609		National Penn Bancshares, Inc		131,255
4,774		NBT Bancorp, Inc		110,900
6,785	*	Net 1 UEPS Technologies, Inc		185,570
6,518		NetBank, Inc		43,214
15,600		NewAlliance Bancshares, Inc		223,236
1,303	*	Northern Empire Bancshares		31,272
2,737		Northwest Bancorp, Inc		72,531
1,439		OceanFirst Financial Corp		31,975
9,553		Old National Bancorp		190,773
1,870		Old Second Bancorp, Inc		57,970
1,784		Omega Financial Corp		55,857
3,320		Oriental Financial Group, Inc		42,363
6,539		Pacific Capital Bancorp		203,494
1,702		Park National Corp		168,175
7,078		Partners Trust Financial Group, Inc		80,760
1,269		Pennfed Financial Services, Inc		23,667
1,400		Peoples Bancorp, Inc		41,776
3,438		PFF Bancorp, Inc		114,004
2,167	*	Pinnacle Financial Partners, Inc		65,942
1,657		Placer Sierra Bancshares		38,426
637		Preferred Bank		34,150
2,287		Premierwest Bancorp		33,001
2,511		PrivateBancorp, Inc		103,981
3,551		Prosperity Bancshares, Inc		116,792
4,752		Provident Bankshares Corp		172,925
9,796		Provident Financial Services, Inc		175,838
6,001		Provident New York Bancorp		79,333
1,088	*	QC Holdings, Inc		14,699
3,664		R & G Financial Corp (Class B)		31,474
1,432		Renasant Corp		57,781
10,942		Republic Bancorp, Inc		135,571
954		Republic Bancorp, Inc (Class A)		19,652
577		Royal Bancshares of Pennsylvania (Class A)		14,010
3,831		S&T Bancorp, Inc		127,304
1,809		S.Y. Bancorp, Inc		49,711
2,129		Sandy Spring Bancorp, Inc		76,772
689		Santander BanCorp		16,963
1,160		SCBT Financial Corp		41,354
1,849		Seacoast Banking Corp of Florida		49,239
1,911		Security Bank Corp		42,558
1,184		Shore Bancshares, Inc		32,122
842		Sierra Bancorp		22,077
4,141	*	Signature Bank		134,086
1,993		Simmons First National Corp (Class A)		57,817
1,101		Smithtown Bancorp, Inc		26,600
1,592		Sound Federal Bancorp, Inc		33,098
1,639		Southside Bancshares, Inc		36,582
2,016		Southwest Bancorp, Inc		51,408
1,489		State National Bancshares, Inc		56,746
2,624		Sterling Bancorp		51,168
6,477		Sterling Bancshares, Inc		121,444
3,716		Sterling Financial Corp		81,380
5,039		Sterling Financial Corp		153,740

283

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,486		Suffolk Bancorp	$	48,667
1,526		Summit Bancshares, Inc		32,366
1,945	*	Sun Bancorp, Inc		31,587
2,472	*	Superior Bancorp		27,192
6,567		Susquehanna Bancshares, Inc		156,951
5,069	*	SVB Financial Group		230,437
753		Taylor Capital Group, Inc		30,730
3,284	*	Texas Capital Bancshares, Inc		76,517
6,499		Texas Regional Bancshares, Inc (Class A)		246,442
1,311		Texas United Bancshares, Inc		36,905
2,606		TierOne Corp		88,005
928		Tompkins Trustco, Inc		39,904
1,938		Trico Bancshares		53,062
10,726		Trustco Bank Corp NY		118,201
6,574		Trustmark Corp		203,597
13,157		UCBH Holdings, Inc		217,617
4,575		UMB Financial Corp		152,531
8,041		Umpqua Holdings Corp		206,252
1,222		Union Bankshares Corp		52,717
5,287		United Bankshares, Inc		193,663
4,695		United Community Banks, Inc		142,916
3,731		United Community Financial Corp		44,772
1,049		United Security Bancshares		22,438
1,594		Univest Corp of Pennsylvania		44,026
1,811		USB Holding Co, Inc		40,748
1,372		Vineyard National Bancorp		36,907
2,096	*	Virginia Commerce Bancorp		50,094
996		Virginia Financial Group, Inc		42,051
15,418		W Holding Co, Inc		102,530
1,759		Washington Trust Bancorp, Inc		48,759
1,269	*	Wauwatosa Holdings, Inc		21,649
3,173		WesBanco, Inc		98,331
2,677		West Bancorporation, Inc		49,980
2,084		West Coast Bancorp		61,415
4,452		Westamerica Bancorporation		218,014
1,853	*	Western Alliance Bancorp		64,447
650		Westfield Financial, Inc		18,850
2,089		Willow Grove Bancorp, Inc		33,236
2,161		Wilshire Bancorp, Inc		38,941
3,396		Wintrust Financial Corp		172,687
823		WSFS Financial Corp		50,573
1,378		Yardville National Bancorp		49,236
		TOTAL DEPOSITORY INSTITUTIONS		18,243,538
EATING AND DRINKING PLACES - 1.76%
3,632	*	AFC Enterprises		46,308
10,436		Applebees International, Inc		200,580
2,003	*	BJ's Restaurants, Inc		44,747
5,121		Bob Evans Farms, Inc		153,681
944	*	Buffalo Wild Wings, Inc		36,165
2,691	*	California Pizza Kitchen, Inc		73,949
4,284		CBRL Group, Inc		145,313
4,667	*	CEC Entertainment, Inc		149,904
1,162	*	Chipotle Mexican Grill, Inc		70,824

284

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
8,448		CKE Restaurants, Inc	$	140,321
4,844	*	Cosi, Inc		30,178
12,470	*	Denny's Corp		46,014
5,354		Domino's Pizza, Inc		132,458
2,658		IHOP Corp		127,797
5,010	*	Jack in the Box, Inc		196,392
8,252	*	Krispy Kreme Doughnuts, Inc		67,171
2,269		Landry's Restaurants, Inc		73,629
2,544		Lone Star Steakhouse & Saloon, Inc		66,729
3,387	*	Luby's, Inc		35,326
1,681	*	McCormick & Schmick's Seafood Restaurants, Inc		40,008
1,269	*	Morton's Restaurant Group, Inc		19,441
3,403	*	O'Charleys, Inc		57,851
3,438	*	Papa John's International, Inc		114,142
3,652	*	PF Chang's China Bistro, Inc		138,849
4,937	*	Rare Hospitality International, Inc		141,988
2,334	*	Red Robin Gourmet Burgers, Inc		99,335
8,207		Ruby Tuesday, Inc		200,333
2,468	*	Ruth's Chris Steak House, Inc		50,397
6,092	*	Ryan's Restaurant Group, Inc		72,556
12,124	*	Sonic Corp		252,058
7,371	*	Texas Roadhouse, Inc (Class A)		99,656
3,907	*	The Steak N Shake Co		59,152
8,698		Triarc Cos (Class B)		135,950
		TOTAL EATING AND DRINKING PLACES		3,319,202
EDUCATIONAL SERVICES - 0.35%
12,243	*	Corinthian Colleges, Inc		175,809
8,589	*	DeVry, Inc		188,700
2,537	*	Educate, Inc		19,433
454	*	Lincoln Educational Services Corp		7,759
2,038		Strayer Education, Inc		197,931
3,238	*	Universal Technical Institute, Inc		71,301
		TOTAL EDUCATIONAL SERVICES		660,933
ELECTRIC, GAS, AND SANITARY SERVICES - 3.09%
3,567		Allete, Inc		168,897
2,201		American Ecology Corp		58,327
2,283		American States Water Co		81,389
52,683	*	Aquila, Inc		221,795
6,972		Avista Corp		159,171
4,698		Black Hills Corp		161,282
2,410		California Water Service Group		86,133
1,749		Cascade Natural Gas Corp		36,886
2,997	*	Casella Waste Systems, Inc (Class A)		39,231
2,306		CH Energy Group, Inc		110,688
2,279	*	Clean Harbors, Inc		91,866
7,056		Cleco Corp		164,052
1,244		Crosstex Energy, Inc		118,280
10,922		Duquesne Light Holdings, Inc		179,558
6,785	*	El Paso Electric Co		136,786
4,230		Empire District Electric Co		86,927
907		EnergySouth, Inc		28,326
6,060		Idacorp, Inc		207,797

285

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,941		ITC Holdings Corp	$	51,592
3,098		Laclede Group, Inc		106,447
882		Markwest Hydrocarbon, Inc		21,830
3,675		Metal Management, Inc		112,529
2,859		MGE Energy, Inc		89,058
4,005		New Jersey Resources Corp		187,354
6,286		Nicor, Inc		260,869
3,949		Northwest Natural Gas Co		146,231
5,195		NorthWestern Corp		178,448
1,133		Ormat Technologies, Inc		43,224
4,041		Otter Tail Corp		110,441
5,378		Peoples Energy Corp		193,124
1,229	*	Pico Holdings, Inc		39,635
10,655		Piedmont Natural Gas Co, Inc		258,917
2,212	*	Pike Electric Corp		42,603
10,205	*	Plug Power, Inc		47,657
9,723		PNM Resources, Inc		242,686
3,794		Portland General Electric Co		94,736
2,329		Resource America, Inc (Class A)		44,367
2,274		SJW Corp		57,873
4,022		South Jersey Industries, Inc		110,163
5,671		Southwest Gas Corp		177,729
3,207		Southwest Water Co		38,388
8,659		Synagro Technologies, Inc		34,030
68	b*	Touch America Holdings, Inc		0
2,029		UIL Holdings Corp		114,212
4,873		Unisource Energy Corp		151,794
6,346	*	Waste Connections, Inc		230,994
1,085		Waste Industries USA, Inc		24,608
3,455	*	Waste Services, Inc		31,060
12,309		Westar Energy, Inc		259,104
6,967		WGL Holdings, Inc		201,695
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		5,840,789
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 7.21%
3,573	*	Actel Corp		51,273
6,230		Acuity Brands, Inc		242,409
16,231	*	Adaptec, Inc		70,443
9,537		Adtran, Inc		213,915
5,202	*	Advanced Analogic Technologies, Inc		54,517
4,966	*	Advanced Energy Industries, Inc		65,750
10,510	*	Aeroflex, Inc		122,652
4,375	*	American Superconductor Corp		38,631
6,223	*	AMIS Holdings, Inc		62,230
14,877	*	Amkor Technology, Inc		140,736
6,658	*	Anadigics, Inc		44,742
22,495	*	Andrew Corp		199,306
42,256	*	Applied Micro Circuits Corp		115,359
15,107	*	Arris Group, Inc		198,204
7,294	*	Atheros Communications, Inc		138,294
5,209	*	ATMI, Inc		128,246
23,199	*	Avanex Corp		40,830
4,597		Baldor Electric Co		143,840
1,541		Bel Fuse, Inc (Class B)		50,560

286

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,044	*	Benchmark Electronics, Inc	$	218,141
8,196	*	Bookham, Inc		27,539
10,768	*	Broadwing Corp		111,449
39,062	*	Brocade Communications Systems, Inc		239,841
3,280	*	CalAmp Corp		29,159
14,511	*	Capstone Turbine Corp		33,085
2,930	*	Carrier Access Corp		24,231
6,485	*	C-COR, Inc		50,064
3,870	*	Ceradyne, Inc		191,526
5,564	*	Checkpoint Systems, Inc		123,576
3,823	*	China BAK Battery, Inc		32,534
16	*	China Energy Savings Technology, Inc		6
1,807	*	Color Kinetics, Inc		34,170
3,293	*	Comtech Telecommunications Corp		96,386
67,722	*	Conexant Systems, Inc		169,305
1,001	*	CPI International, Inc		14,515
5,093		CTS Corp		75,835
2,094		Cubic Corp		41,063
2,768	*	Diodes, Inc		114,706
1,305	*	Directed Electronics, Inc		17,122
4,554	*	Ditech Networks, Inc		39,711
4,328	*	DSP Group, Inc		107,551
2,469	*	DTS, Inc		48,096
4,199	*	Electro Scientific Industries, Inc		75,540
5,264	*	Emcore Corp		50,534
2,144	*	EMS Technologies, Inc		38,528
5,515	*	Energy Conversion Devices, Inc		200,911
6,630	*	EnerSys		138,567
9,439	*	Evergreen Solar, Inc		122,518
4,505	*	Exar Corp		59,781
32,172	*	Finisar Corp		105,202
3,175		Franklin Electric Co, Inc		163,957
7,498	*	FuelCell Energy, Inc		71,831
35,984	*	Gemstar-TV Guide International, Inc		126,664
3,443	*	Genlyte Group, Inc		249,376
14,029	*	GrafTech International Ltd		81,368
3,053	*	Greatbatch, Inc		72,051
11,290	*	Harmonic, Inc		50,579
13,183	*	Hexcel Corp		207,105
1,797	*	Hittite Microwave Corp		64,980
3,793	*	Hutchinson Technology, Inc		82,043
1,561	*	ID Systems, Inc		27,677
2,905	*	Ikanos Communications, Inc		44,127
4,776		Imation Corp		196,055
7,612	*	Interdigital Communications Corp		265,735
6,345	*	International DisplayWorks, Inc		32,994
2,999		Inter-Tel, Inc		63,159
4,918	*	InterVoice, Inc		35,016
1,611	*	iRobot Corp		40,082
3,821	*	IXYS Corp		36,682
12,571	*	Kemet Corp		115,905
1,958	*	Lamson & Sessions Co		55,529
16,638	*	Lattice Semiconductor Corp		102,823
3,218	*	Littelfuse, Inc		110,635

287

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,387	*	Loral Space & Communications, Inc	$	39,335
2,695		LSI Industries, Inc		45,788
7,411	*	Mattson Technology, Inc		72,405
2,027	*	Maxwell Technologies, Inc		39,790
22,242	*	McData Corp (Class A)		90,747
2,900	*	Medis Technologies Ltd		58,812
2,897	*	Mercury Computer Systems, Inc		44,585
4,801		Methode Electronics, Inc		50,459
1,800	*	Metrologic Instruments, Inc		27,018
10,194	*	Micrel, Inc		102,042
9,913	*	Microsemi Corp		241,679
7,681	*	Microtune, Inc		48,083
15,570	*	Mindspeed Technologies, Inc		37,524
5,568	*	MIPS Technologies, Inc		33,798
3,406	*	Mobility Electronics, Inc		24,728
3,082	*	Monolithic Power Systems, Inc		36,460
5,234	*	Moog, Inc		179,107
3,181	*	MoSys, Inc		24,875
18,382	*	MRV Communications, Inc		57,168
1,088	*	Multi-Fineline Electronix, Inc		36,111
725		National Presto Industries, Inc		37,903
2,250	*	Netlogic Microsystems, Inc		72,563
7,681	*	Omnivision Technologies, Inc		162,223
21,740	*	ON Semiconductor Corp		127,831
13,496	*	Openwave Systems, Inc		155,744
2,368	*	Oplink Communications Inc		43,358
2,111	*	Optical Communication Products, Inc		4,243
2,147	*	OSI Systems, Inc		38,152
2,727		Park Electrochemical Corp		70,220
2,657	*	Parkervision, Inc		24,179
4,036	*	Pericom Semiconductor Corp		33,499
5,851	*	Photronics, Inc		86,595
6,710		Plantronics, Inc		149,029
6,524	*	Plexus Corp		223,186
3,665	*	PLX Technology, Inc		44,786
12,464	*	Polycom, Inc		273,211
3,490	*	Portalplayer, Inc		34,237
1,089	*	Powell Industries, Inc		26,060
4,225	*	Power Integrations, Inc		73,853
10,313	*	Power-One, Inc		68,066
15,853	*	Powerwave Technologies, Inc		144,579
6,074	*	Quantum Fuel Systems Technologies Worldwide, Inc		20,652
2,536	*	Radyne Corp		28,860
2,274		Raven Industries, Inc		71,631
4,343		Regal-Beloit Corp		191,743
26,459	*	RF Micro Devices, Inc		157,960
2,491	*	Rogers Corp		140,343
10,498	*	Semtech Corp		151,696
11,357	*	Silicon Image, Inc		122,428
12,041	*	Silicon Storage Technology, Inc		48,886
3,504	*	Sirenza Microdevices, Inc		42,539
22,448	*	Skyworks Solutions, Inc		123,688
5,215	*	Spectrum Brands, Inc		67,378
1,699	*	Staktek Holdings, Inc		8,257

288

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,076	*	Standard Microsystems Corp	$	67,149
13,575	*	Stratex Networks, Inc		46,019
1,450	*	Sunpower Corp		40,629
1,668	*	Supertex, Inc		66,620
26,052	*	Sycamore Networks, Inc		105,771
6,513	*	Symmetricom, Inc		46,047
3,531	*	Synaptics, Inc		75,563
5,919		Technitrol, Inc		137,025
7,877	*	Tekelec		97,281
6,585	*	Tessera Technologies, Inc		181,088
27,654	*	Transmeta Corp		44,799
17,330	*	Transwitch Corp		36,566
8,054	*	Trident Microsystems, Inc		152,865
19,165	*	Triquint Semiconductor, Inc		85,476
6,063	*	TTM Technologies, Inc		87,732
1,631	*	Ulticom, Inc		17,077
3,388	*	Universal Display Corp		45,094
2,097	*	Universal Electronics, Inc		37,138
17,081	*	Utstarcom, Inc		133,061
8,027	*	Varian Semiconductor Equipment Associates, Inc		261,760
3,126	*	Viasat, Inc		80,276
2,727		Vicor Corp		45,186
2,047	*	Virage Logic Corp		19,221
2,444	*	Volterra Semiconductor Corp		37,295
15,352	*	Zhone Technologies, Inc		31,318
1,998	*	Zoltek Cos, Inc		59,720
6,995	*	Zoran Corp		170,258
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		13,617,628
ENGINEERING AND MANAGEMENT SERVICES - 2.25%
2,736	*	Advisory Board Co		131,574
10,534	*	Applera Corp (Celera Genomics Group)		136,415
7,971	*	Ariad Pharmaceuticals, Inc		35,949
1,831		CDI Corp		53,099
1,611	*	Cornell Cos, Inc		24,745
1,527	*	CRA International, Inc		68,929
6,139	*	CV Therapeutics, Inc		85,762
8,097	*	deCODE genetics, Inc		50,120
3,715	*	DiamondCluster International, Inc		29,423
12,913	*	Digitas, Inc		150,049
4,306	*	Diversa Corp		41,596
6,975	*	eResearch Technology, Inc		63,473
2,730	*	Essex Corp		50,287
12,071	*	Exelixis, Inc		121,313
2,404	*	Exponent, Inc		40,628
3,055	*	First Consulting Group, Inc		27,006
6,915	*	Harris Interactive, Inc		39,415
2,458	*	Huron Consulting Group, Inc		86,251
9,248	*	ICOS Corp		203,363
11,561	*	Incyte Corp		53,181
3,770	*	Infrasource Services, Inc		68,652
10,706	*	Isis Pharmaceuticals, Inc		64,771
1,734	*	Kendle International, Inc		63,690
4,431	*	Keryx Biopharmaceuticals, Inc		62,920

289

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,251		Landauer, Inc	$	59,923
3,444	*	LECG Corp		63,611
9,213	*	Lexicon Genetics, Inc		40,445
4,735	*	Lifecell Corp		146,406
4,515	*	Luminex Corp		78,516
3,021		MAXIMUS, Inc		69,936
3,623	*	Maxygen, Inc		27,100
18,174	*	Monogram Biosciences, Inc		35,985
1,483	*	MTC Technologies, Inc		35,043
5,476	*	Myriad Genetics, Inc		138,269
6,168	*	Navigant Consulting, Inc		139,705
3,836	*	Omnicell, Inc		53,013
4,727	*	Per-Se Technologies, Inc		119,026
6,437	*	Regeneron Pharmaceuticals, Inc		82,522
19,523	*	Rentech, Inc		90,782
6,835	*	Resources Connection, Inc		171,012
3,657	*	Rigel Pharmaceuticals, Inc		35,583
3,699	*	Sangamo Biosciences, Inc		21,824
9,011	*	Savient Pharmaceuticals, Inc		47,308
4,218	*	Senomyx, Inc		60,866
2,469	*	SFBC International, Inc		37,430
2,236	*	Sourcecorp		55,430
4,768	*	Symyx Technologies, Inc		115,147
1,538	*	Tejon Ranch Co		63,304
7,499	*	Telik, Inc		123,734
8,104	*	Tetra Tech, Inc		143,765
2,265	*	Trimeris, Inc		26,025
4,084		Washington Group International, Inc		217,841
5,883		Watson Wyatt & Co Holdings		206,729
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		4,258,891
ENVIRONMENTAL QUALITY AND HOUSING - 0.02%
5,307	*	Home Solutions of America, Inc		32,744
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		32,744
FABRICATED METAL PRODUCTS - 1.02%
1,197		Ameron International Corp		80,223
4,899		Aptargroup, Inc		243,039
2,264		CIRCOR International, Inc		69,029
2,973	*	Commercial Vehicle Group, Inc		61,482
299		Compx International, Inc		5,352
1,667		Dynamic Materials Corp		56,228
4,225	*	Griffon Corp		110,273
1,704		Gulf Island Fabrication, Inc		34,148
1,970		Insteel Industries, Inc		47,674
10,562	*	Jacuzzi Brands, Inc		92,946
1,979	*	Ladish Co, Inc		74,153
1,596		Lifetime Brands, Inc		34,585
4,955	*	Mobile Mini, Inc		144,983
3,543	*	Mueller Water Products, Inc		61,684
2,953	*	NCI Building Systems, Inc		157,011
685	*	Shiloh Industries, Inc		10,302
3,207		Silgan Holdings, Inc		118,691
5,229		Simpson Manufacturing Co, Inc		188,505

290

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,115	*	Smith & Wesson Holding Corp	$	33,825
8,834	*	Taser International, Inc		69,877
2,553		Valmont Industries, Inc		118,689
3,569		Watts Water Technologies, Inc (Class A)		119,740
		TOTAL FABRICATED METAL PRODUCTS		1,932,439
FOOD AND KINDRED PRODUCTS - 0.84%
916	*	Altus Pharmaceuticals, Inc		16,900
1,269	*	Boston Beer Co, Inc (Class A)		37,169
762		Coca-Cola Bottling Co Consolidated		38,687
8,243	*	Darling International, Inc		37,341
2,215		Diamond Foods, Inc		35,595
793		Farmer Bros Co		17,192
7,253		Flowers Foods, Inc		207,726
7,168	*	Gold Kist, Inc		95,836
1,596		Imperial Sugar Co		37,857
1,929		J&J Snack Foods Corp		63,792
3,128	*	Jones Soda Co		28,152
3,598		Lancaster Colony Corp		142,013
4,419		Lance, Inc		101,725
1,541	*	M&F Worldwide Corp		24,810
1,349		MGP Ingredients, Inc		31,324
907		National Beverage Corp		13,015
2,029	*	Peet's Coffee & Tea, Inc		61,256
1,951		Premium Standard Farms, Inc		31,665
3,837	*	Ralcorp Holdings, Inc		163,188
2,355		Reddy Ice Holdings, Inc		47,924
2,457		Sanderson Farms, Inc		68,771
4,899		Tootsie Roll Industries, Inc		142,708
4,711		Topps Co, Inc		38,724
4,391	*	TreeHouse Foods, Inc		104,901
		TOTAL FOOD AND KINDRED PRODUCTS		1,588,271
FOOD STORES - 0.35%
182		Arden Group, Inc (Class A)		20,597
2,726		Great Atlantic & Pacific Tea Co, Inc		61,935
1,450		Ingles Markets, Inc (Class A)		24,650
3,204	*	Pantry, Inc		184,358
7,400	*	Pathmark Stores, Inc		69,634
5,582		Ruddick Corp		136,815
231		Village Super Market		15,100
1,484		Weis Markets, Inc		61,141
4,228	*	Wild Oats Markets, Inc		82,869
		TOTAL FOOD STORES		657,099
FURNITURE AND FIXTURES - 0.80%
10,943	*	BE Aerospace, Inc		250,157
4,647		Ethan Allen Interiors, Inc		169,848
6,480		Furniture Brands International, Inc		135,043
9,197		Herman Miller, Inc		237,007
1,519		Hooker Furniture Corp		25,474
6,755	*	Interface, Inc (Class A)		77,345
3,393		Kimball International, Inc (Class B)		66,876
7,508		La-Z-Boy, Inc		105,112

291

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,835		Sealy Corp	$	37,620
7,648	*	Select Comfort Corp		175,674
1,631		Stanley Furniture Co, Inc		39,095
7,079	*	Tempur-Pedic International, Inc		95,637
4,209	*	Williams Scotsman International, Inc		91,925
		TOTAL FURNITURE AND FIXTURES		1,506,813
FURNITURE AND HOMEFURNISHINGS STORES - 0.28%
3,033	*	Cost Plus, Inc		44,464
3,780	*	Guitar Center, Inc		168,097
2,971		Haverty Furniture Cos, Inc		46,615
4,650		Knoll, Inc		85,374
12,475		Pier 1 Imports, Inc		87,076
4,919	*	Restoration Hardware, Inc		35,318
4,236		Tuesday Morning Corp		55,703
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		522,647
GENERAL BUILDING CONTRACTORS - 0.51%
236		Amrep Corp		12,820
860	*	Avatar Holdings, Inc		48,994
1,791		Brookfield Homes Corp		59,013
899	*	Cavco Industries, Inc		39,952
7,047	*	Hovnanian Enterprises, Inc (Class A)		211,974
2,333		Levitt Corp (Class A)		37,328
1,812		M/I Homes, Inc		63,565
3,082		McGrath RentCorp		85,710
3,176	*	Meritage Homes Corp		150,066
1,414	*	Palm Harbor Homes, Inc		24,872
3,073	*	Perini Corp		69,142
900	*	Team, Inc		22,545
2,747		Technical Olympic USA, Inc		39,447
4,792	*	WCI Communities, Inc		96,511
		TOTAL GENERAL BUILDING CONTRACTORS		961,939
GENERAL MERCHANDISE STORES - 0.45%
6,690	*	99 Cents Only Stores		69,977
16,142	*	Big Lots, Inc		275,705
806		Bon-Ton Stores, Inc		17,635
4,519	*	Cabela's, Inc		87,036
7,083		Casey's General Stores, Inc		177,146
1,102	*	Conn's, Inc		29,258
5,830		Fred's, Inc		77,831
3,009	*	Retail Ventures, Inc		53,620
3,524		Stein Mart, Inc		52,155
		TOTAL GENERAL MERCHANDISE STORES		840,363
HEALTH SERVICES - 1.65%
1,631	*	Alliance Imaging, Inc		10,438
2,260	*	Amedisys, Inc		85,654
4,986	*	American Retirement Corp		163,391
4,140	*	Amsurg Corp		94,185
6,034	*	Apria Healthcare Group, Inc		114,043
1,354	*	Bio-Reference Labs, Inc		29,463
771	*	Corvel Corp		19,275

292

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,747	*	Cross Country Healthcare, Inc	$	86,348
702	*	Emeritus Corp		13,162
4,176	*	Enzo Biochem, Inc		62,974
4,452	*	Five Star Quality Care, Inc		49,284
2,882	*	Genesis HealthCare Corp		136,520
1,754	*	Genomic Health, Inc		20,645
3,623	*	Gentiva Health Services, Inc		58,077
4,876	*	Healthways, Inc		256,673
2,121	*	Horizon Health Corp		44,286
3,705	*	Hythiam, Inc		25,824
5,034	*	Kindred Healthcare, Inc		130,884
2,931		LCA-Vision, Inc		155,079
1,566	*	LHC Group, Inc		31,195
5,228	*	Magellan Health Services, Inc		236,881
2,845	*	Matria Healthcare, Inc		60,940
1,120	*	Medcath Corp		21,101
979		National Healthcare Corp		43,614
12,644	*	Nektar Therapeutics		231,891
834	*	Nighthawk Radiology Holdings, Inc		14,962
5,027	*	Odyssey HealthCare, Inc		88,324
3,702		Option Care, Inc		44,350
7,368	*	Psychiatric Solutions, Inc		211,167
1,721	*	Radiation Therapy Services, Inc		46,312
2,356	*	RehabCare Group, Inc		40,947
3,318	*	Stereotaxis, Inc		35,801
3,272	*	Sun Healthcare Group, Inc		28,434
6,275	*	Sunrise Senior Living, Inc		173,504
2,453	*	Symbion, Inc		50,924
6,210	*	United Surgical Partners International, Inc		186,735
1,310	*	VistaCare, Inc (Class A)		15,851
		TOTAL HEALTH SERVICES		3,119,138
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.15%
4,943		Granite Construction, Inc		223,770
2,942	*	Matrix Service Co		33,656
1,229	*	Sterling Construction Co, Inc		33,920
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		291,346
HOLDING AND OTHER INVESTMENT OFFICES - 9.53%
6,665		Aames Investment Corp		33,258
4,488		Acadia Realty Trust		106,141
4,824	*	Affordable Residential Communities		51,858
1,171		Agree Realty Corp		39,779
285	*	Alexander's, Inc		77,452
3,225		Alexandria Real Estate Equities, Inc		285,993
2,274		American Campus Communities, Inc		56,509
18,301		American Financial Realty Trust		177,154
6,187		American Home Mortgage Investment Corp		228,053
7,965		Anthracite Capital, Inc		96,854
6,631		Anworth Mortgage Asset Corp		55,037
11,473		Apollo Investment Corp		212,021
1,659		Arbor Realty Trust, Inc		41,558
6,836		Ashford Hospitality Trust, Inc		86,270
8,016		BioMed Realty Trust, Inc		239,999

293

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,696		Capital Lease Funding, Inc	$	53,581
394		Capital Southwest Corp		41,153
1,760		Capital Trust, Inc		62,691
4,315		Cedar Shopping Centers, Inc		63,517
1,622		CentraCore Properties Trust		40,145
997		Cherokee, Inc		41,236
1,852		Compass Diversified Trust		26,428
4,630		Corporate Office Properties Trust		194,830
5,534		Cousins Properties, Inc		171,167
11,114		Crescent Real Estate Equities Co		206,276
7,300		Deerfield Triarc Capital Corp		94,754
9,065		DiamondRock Hospitality Co		134,253
2,598		Digital Realty Trust, Inc		64,145
3,153		EastGroup Properties, Inc		147,182
3,633		Education Realty Trust, Inc		60,489
436	*	Enstar Group, Inc		40,195
3,823		Entertainment Properties Trust		164,580
7,699		Equity Inns, Inc		127,495
2,798		Equity Lifestyle Properties, Inc		122,636
5,408		Equity One, Inc		113,027
7,212		Extra Space Storage, Inc		117,123
8,604		FelCor Lodging Trust, Inc		187,051
7,083		Fieldstone Investment Corp		64,880
6,235		First Industrial Realty Trust, Inc		236,556
2,838		First Potomac Realty Trust		84,544
6,945		Franklin Street Properties Corp		136,678
20,763		Friedman Billings Ramsey Group, Inc		227,770
2,446		Getty Realty Corp		69,564
1,450		Gladstone Capital Corp		31,016
2,473		Gladstone Investment Corp		37,095
4,547		Glenborough Realty Trust, Inc		97,942
5,217		Glimcher Realty Trust		129,434
5,734		GMH Communities Trust		75,574
2,274		Gramercy Capital Corp		58,897
2,696		Harris & Harris Group, Inc		29,764
6,665		Healthcare Realty Trust, Inc		212,280
3,949		Heritage Property Investment Trust		137,899
3,938		Hersha Hospitality Trust		36,584
8,387		Highland Hospitality Corp		118,089
7,654		Highwoods Properties, Inc		276,922
5,008		Home Properties, Inc		277,994
7,790		HomeBanc Corp		61,853
10,464		IMPAC Mortgage Holdings, Inc		116,988
9,764		Inland Real Estate Corp		145,288
6,185		Innkeepers U.S.A. Trust		106,877
6,848		Investors Real Estate Trust		61,837
68,250		iShares Russell 2000 Index Fund		4,907,175
3,624		JER Investors Trust, Inc		56,353
4,034		Kite Realty Group Trust		62,890
11,078		KKR Financial Corp		230,533
5,671		LaSalle Hotel Properties		262,567
7,337		Lexington Corporate Properties Trust		158,479
3,158		LTC Properties, Inc		70,581
5,429		Luminent Mortgage Capital, Inc		50,273

294

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,353		Maguire Properties, Inc	$	188,265
5,656		Medical Properties Trust, Inc		62,442
11,303		MFA Mortgage Investments, Inc		77,765
3,286		Mid-America Apartment Communities, Inc		183,195
7,996		Mills Corp		213,893
4,117		MortgageIT Holdings, Inc		49,651
3,521		National Health Investors, Inc		94,680
8,130		National Retail Properties, Inc		162,193
10,434		Nationwide Health Properties, Inc		234,869
6,337		Newcastle Investment Corp		160,453
2,743		Newkirk Realty Trust, Inc		47,618
4,025		NorthStar Realty Finance Corp		48,340
4,567		Novastar Financial, Inc		144,363
8,042		Omega Healthcare Investors, Inc		106,315
1,903		Parkway Properties, Inc		86,587
5,091		Pennsylvania Real Estate Investment Trust		205,524
5,933		Post Properties, Inc		269,002
5,481		Potlatch Corp		206,908
2,361		PS Business Parks, Inc		139,299
3,805		RAIT Investment Trust		111,106
2,382		Ramco-Gershenson Properties		64,147
11,488		Realty Income Corp		251,587
2,828		Redwood Trust, Inc		138,091
3,674		Republic Property Trust		36,299
526		Resource Capital Corp		6,770
963	*	Rockville Financial, Inc		14,175
1,531		Saul Centers, Inc		62,434
7,346		Saxon Capital, Inc		84,038
8,909		Senior Housing Properties Trust		159,560
2,492		Sizeler Property Investors, Inc		40,022
2,483		Sovran Self Storage, Inc		126,112
11,562		Spirit Finance Corp		130,188
2,582	*	Star Maritime Acquisition Corp		26,233
10,338		Strategic Hotel Capital, Inc		214,410
2,553		Sun Communities, Inc		83,049
8,152		Sunstone Hotel Investors, Inc		236,897
4,270		Tanger Factory Outlet Centers, Inc		138,220
2,003		Tarragon Corp		27,742
9,558		Trustreet Properties, Inc		126,070
1,631		Universal Health Realty Income Trust		51,132
2,899		Urstadt Biddle Properties, Inc (Class A)		47,225
6,640		U-Store-It Trust		125,230
5,997		Washington Real Estate Investment Trust		220,090
2,871		Windrose Medical Properties Trust		41,917
3,932		Winston Hotels, Inc		48,167
3,422		Winthrop Realty Trust		20,327
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		18,005,666
HOTELS AND OTHER LODGING PLACES - 0.64%
3,735		Ameristar Casinos, Inc		72,646
5,096	*	Aztar Corp		264,788
2,949	*	Bluegreen Corp		33,796
5,680	*	Gaylord Entertainment Co		247,875
3,533	*	Great Wolf Resorts, Inc		42,431

295

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,215	*	Isle of Capri Casinos, Inc	$	56,815
3,247	*	Lodgian, Inc		46,270
3,039		Marcus Corp		63,454
1,456	*	Monarch Casino & Resort, Inc		40,943
2,392	*	Morgans Hotel Group Co		37,219
1,860	*	Outdoor Channel Holdings, Inc		19,195
1,546	*	Riviera Holdings Corp		31,229
3,960	*	Trump Entertainment Resorts, Inc		79,794
4,390	*	Vail Resorts, Inc		162,869
		TOTAL HOTELS AND OTHER LODGING PLACES		1,199,324
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.10%
1,359		Aaon, Inc		34,872
3,805		Actuant Corp		190,060
8,923	*	Advanced Digital Information Corp		105,024
3,835		Albany International Corp (Class A)		162,566
1,940	*	Allis-Chalmers Energy, Inc		26,365
1,015		Ampco-Pittsburgh Corp		29,080
2,472	*	Astec Industries, Inc		84,345
2,948	*	ASV, Inc		67,922
6,411	*	Asyst Technologies, Inc		48,275
14,571	*	Axcelis Technologies, Inc		85,969
846	*	Basin Water, Inc		8,477
2,378		Black Box Corp		91,149
5,369	*	Blount International, Inc		64,535
7,369		Briggs & Stratton Corp		229,250
10,898	*	Brooks Automation, Inc		128,596
4,460		Bucyrus International, Inc (Class A)		225,230
1,854		Cascade Corp		73,326
11,821	*	Cirrus Logic, Inc		96,223
2,584	*	Columbus McKinnon Corp		56,176
6,231		Curtiss-Wright Corp		192,413
5,484	*	Cymer, Inc		254,787
1,563	*	Dril-Quip, Inc		128,854
8,054	*	Electronics for Imaging, Inc		168,168
12,052	*	Emulex Corp		196,086
2,272	*	ENGlobal Corp		17,699
2,876	*	EnPro Industries, Inc		96,634
19,268	*	Entegris, Inc		183,624
17,712	*	Extreme Networks, Inc		73,682
1,891	*	Fargo Electronics, Inc		48,012
1,844	*	Flanders Corp		18,495
4,944	*	Flow International Corp		69,562
40,048	*	Gateway, Inc		76,091
1,646	*	Gehl Co		42,022
3,379	*	Global Imaging Systems, Inc		139,485
3,329	*	Goodman Global, Inc		50,534
1,314		Gorman-Rupp Co		34,952
2,565	*	Hydril		201,404
7,093	*	Intermec, Inc		162,713
2,845	*	Intevac, Inc		61,680
1,985	*	Kadant, Inc		45,655
3,941		Kaydon Corp		147,039
5,422		Kennametal, Inc		337,520

296

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,377	*	Komag, Inc	$	202,130
7,775	*	Kulicke & Soffa Industries, Inc		57,613
1,442	*	LB Foster Co		34,997
1,785		Lindsay Manufacturing Co		48,409
2,092		Lufkin Industries, Inc		124,328
5,485	*	Micros Systems, Inc		239,585
942	*	Middleby Corp		81,539
4,844		Modine Manufacturing Co		113,156
762		Nacco Industries, Inc (Class A)		104,706
2,066	*	NATCO Group, Inc		83,053
4,603	*	Netgear, Inc		99,655
2,087		NN, Inc		25,774
4,158		Nordson Corp		204,490
6,975	*	Oil States International, Inc		239,103
12,924	*	Palm, Inc		208,076
5,749	*	Paxar Corp		118,257
3,668	*	ProQuest Co		45,080
26,045	*	Quantum Corp		68,238
3,913	*	Rackable Systems, Inc		154,524
2,894	*	RBC Bearings, Inc		65,694
1,812		Robbins & Myers, Inc		47,366
16,974	*	Safeguard Scientifics, Inc		36,664
1,355		Sauer-Danfoss, Inc		34,444
3,579	*	Scansource, Inc		104,936
3,104	*	Semitool, Inc		27,998
3,210	*	Sigma Designs, Inc		30,270
1,724		Standex International Corp		52,323
2,355	*	Tecumseh Products Co (Class A)		45,216
1,097		Tennant Co		55,157
1,776	*	TurboChef Technologies, Inc		19,749
3,587	*	Ultratech, Inc		56,459
3,936		Watsco, Inc		235,452
4,311		Woodward Governor Co		131,529
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		7,750,521
INSTRUMENTS AND RELATED PRODUCTS - 5.32%
2,757	*	Abaxis, Inc		61,674
3,305	*	Abiomed, Inc		42,866
1,341	*	ADE Corp		43,569
9,534	*	Affymetrix, Inc		244,070
8,413	*	Align Technology, Inc		62,172
9,851	*	American Medical Systems Holdings, Inc		164,019
1,287	*	American Science & Engineering, Inc		74,543
2,002		Analogic Corp		93,313
2,592	*	Anaren, Inc		53,110
1,732	*	Angiodynamics, Inc		46,851
1,806	*	Argon ST, Inc		48,094
3,156		Arrow International, Inc		103,738
3,726	*	Arthrocare Corp		156,529
2,498	*	Aspect Medical Systems, Inc		43,565
1,966		Badger Meter, Inc		53,082
2,625	*	Bio-Rad Laboratories, Inc (Class A)		170,468
2,387	*	Biosite, Inc		108,990
4,686	*	Bruker BioSciences Corp		25,117

297

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,207	*	Candela Corp	$	50,863
7,921	*	Cepheid, Inc		76,913
3,923	*	Cerus Corp		27,971
2,042		CNS, Inc		50,029
4,381	*	Coherent, Inc		147,771
3,252		Cohu, Inc		57,073
4,123	*	Conmed Corp		85,346
14,069	*	Credence Systems Corp		49,242
3,125	*	Cyberonics, Inc		66,625
1,821		Datascope Corp		56,160
5,211	*	Depomed, Inc		30,589
2,381	*	DexCom, Inc		32,334
2,866	*	Dionex Corp		156,656
3,163	*	DJ Orthopedics, Inc		116,493
243	*	DXP Enterprises, Inc		7,550
1,034	*	Eagle Test Systems, Inc		14,497
2,274		EDO Corp		55,349
8,397	*	Encore Medical Corp		40,390
3,569	*	ESCO Technologies, Inc		190,763
3,535	*	Esterline Technologies Corp		147,021
2,260	*	ev3, Inc		33,471
1,812	*	Excel Technology, Inc		54,215
3,489	*	FEI Co		79,131
9,723	*	Flir Systems, Inc		214,489
6,446	*	Formfactor, Inc		287,685
6,347	*	Fossil, Inc		114,309
2,637	*	Foxhollow Technologies, Inc		72,043
3,791	*	Haemonetics Corp		176,319
4,821	*	HealthTronics, Inc		36,881
1,948	*	Herley Industries, Inc		21,837
6,441	*	Hologic, Inc		317,928
2,005	*	ICU Medical, Inc		84,691
3,108	*	I-Flow Corp		33,629
3,515	*	II-VI, Inc		64,324
5,890	*	Illumina, Inc		174,697
9,675	*	Input/Output, Inc		91,429
2,839	*	Integra LifeSciences Holdings Corp		110,182
5,953	*	Intermagnetics General Corp		160,612
3,026	*	Intralase Corp		50,655
4,391		Invacare Corp		109,248
3,497	*	Ionatron, Inc		22,206
2,356	*	IRIS International, Inc		31,005
3,619	*	Itron, Inc		214,462
6,053	*	Ixia		54,477
1,630	*	Kensey Nash Corp		48,085
10,140	*	Kopin Corp		36,605
6,248	*	Kyphon, Inc		239,673
2,799	*	Laserscope		86,237
8,344	*	LTX Corp		58,491
1,803	*	Measurement Specialties, Inc		40,153
1,298	*	Medical Action Industries, Inc		28,673
5,436		Mentor Corp		236,466
3,575	*	Merit Medical Systems, Inc		49,192
4,300		Mine Safety Appliances Co		172,860

298

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,133	*	MKS Instruments, Inc	$	103,276
2,365	*	Molecular Devices Corp		72,274
2,494		Movado Group, Inc		57,237
2,603		MTS Systems Corp		102,845
2,630	*	Natus Medical, Inc		26,011
1,760	*	Neurometrix, Inc		53,610
5,743	*	Newport Corp		92,577
853	*	Nextest Systems Corp		13,827
1,522	*	Northstar Neuroscience, Inc		15,798
4,679	*	NuVasive, Inc		85,298
1,702	*	NxStage Medical, Inc		14,858
3,335		Oakley, Inc		56,195
556	*	OYO Geospace Corp		31,753
2,456	*	Palomar Medical Technologies, Inc		112,067
2,537	*	Photon Dynamics, Inc		31,763
3,322		PolyMedica Corp		119,459
5,442	*	RAE Systems, Inc		21,768
2,157	*	Rofin-Sinar Technologies, Inc		123,963
3,655	*	Rudolph Technologies, Inc		52,998
7,243	*	Sirf Technology Holdings, Inc		233,369
2,365		Sirona Dental Systems, Inc		93,701
3,699	*	Sonic Solutions, Inc		61,033
2,377	*	SonoSite, Inc		92,798
4,320	*	Spectranetics Corp		46,310
9,695		STERIS Corp		221,628
4,930	*	Symmetry Medical, Inc		75,922
4,842	*	Teledyne Technologies, Inc		158,624
7,147	*	ThermoGenesis Corp		29,446
7,627	*	Thoratec Corp		105,786
4,809	*	TriPath Imaging, Inc		31,836
1,359		United Industrial Corp		61,495
4,439	*	Varian, Inc		184,263
4,259	*	Veeco Instruments, Inc		101,535
4,150	*	Ventana Medical Systems, Inc		195,797
4,572	*	Viasys Healthcare, Inc		117,043
3,151	*	Viisage Technology, Inc		47,769
1,796	*	Vital Images, Inc		44,361
962		Vital Signs, Inc		47,648
4,835	*	Wright Medical Group, Inc		101,196
3,017		X-Rite, Inc		33,157
725		Young Innovations, Inc		25,542
1,269	*	Zoll Medical Corp		41,572
2,548	*	Zygo Corp		41,762
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		10,042,935
INSURANCE AGENTS, BROKERS AND SERVICE - 0.31%
2,600		Clark, Inc		34,320
3,559		Crawford & Co (Class B)		25,554
4,895		Hilb Rogal & Hobbs Co		182,437
1,286	*	James River Group, Inc		32,021
5,258		National Financial Partners Corp		232,982
6,495	*	USI Holdings Corp		87,098
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		594,412

299

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
INSURANCE CARRIERS - 2.52%
4,752		21st Century Insurance Group	$	68,429
1,088		Affirmative Insurance Holdings, Inc		17,027
4,439		Alfa Corp		73,510
7,808		American Equity Investment Life Holding Co		83,233
945	*	American Physicians Capital, Inc		49,698
7,303	*	AMERIGROUP Corp		226,685
4,280	*	Argonaut Group, Inc		128,571
1,197		Baldwin & Lyons, Inc (Class B)		30,523
2,478		Bristol West Holdings, Inc		39,648
3,630		Capital Title Group, Inc		26,753
6,089	*	Centene Corp		143,274
2,493	*	CNA Surety Corp		43,079
7,629		Commerce Group, Inc		225,361
5,852		Delphi Financial Group, Inc (Class A)		212,779
1,987		Direct General Corp		33,620
1,916		Donegal Group, Inc		37,190
807		EMC Insurance Group, Inc		23,209
1,980		FBL Financial Group, Inc (Class A)		64,152
2,092	*	First Acceptance Corp		24,644
1,451	*	Fpic Insurance Group, Inc		56,226
1,397		Great American Financial Resources, Inc		29,239
1,933		Harleysville Group, Inc		61,315
3,836	*	HealthExtras, Inc		115,924
2,501	*	Healthspring, Inc		46,894
5,924		Horace Mann Educators Corp		100,412
659		Independence Holding Co		14,768
2,854		Infinity Property & Casualty Corp		117,014
626		Kansas City Life Insurance Co		26,398
2,463		LandAmerica Financial Group, Inc		159,110
3,564	*	Meadowbrook Insurance Group, Inc		29,652
1,546		Midland Co		58,717
1,683	*	Molina Healthcare, Inc		64,038
2,238		National Interstate Corp		60,695
318		National Western Life Insurance Co (Class A)		76,209
1,845	*	Navigators Group, Inc		80,848
821		NYMAGIC, Inc		23,850
1,839		Odyssey Re Holdings Corp		48,458
8,867		Ohio Casualty Corp		263,616
15,880		Phoenix Cos, Inc		223,590
4,719	*	PMA Capital Corp (Class A)		48,606
3,058		Presidential Life Corp		75,166
4,407	*	ProAssurance Corp		212,329
3,207		RLI Corp		154,513
2,012		Safety Insurance Group, Inc		95,671
1,422	*	SCPIE Holdings, Inc		33,061
2,242	*	SeaBright Insurance Holdings, Inc		36,119
4,001		Selective Insurance Group, Inc		223,536
2,003		State Auto Financial Corp		65,178
2,411		Stewart Information Services Corp		87,543
2,356		Tower Group, Inc		71,269
1,626	*	Triad Guaranty, Inc		79,479
2,785		United Fire & Casualty Co		83,912
5,374	*	Universal American Financial Corp		70,668

300

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,219		Zenith National Insurance Corp	$	207,038
		TOTAL INSURANCE CARRIERS		4,752,446
JUSTICE, PUBLIC ORDER AND SAFETY - 0.03%
1,835	*	Geo Group, Inc		64,317
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		64,317
LEATHER AND LEATHER PRODUCTS - 0.37%
1,314	*	CROCS, Inc		33,047
3,263	*	Genesco, Inc		110,518
4,959	*	Iconix Brand Group, Inc		81,030
2,821		Steven Madden Ltd		83,558
7,071	*	Timberland Co (Class A)		184,553
976		Weyco Group, Inc		22,663
7,952		Wolverine World Wide, Inc		185,520
		TOTAL LEATHER AND LEATHER PRODUCTS		700,889
LEGAL SERVICES - 0.10%
5,550	*	FTI Consulting, Inc		148,574
1,392		Pre-Paid Legal Services, Inc		48,024
		TOTAL LEGAL SERVICES		196,598
LUMBER AND WOOD PRODUCTS - 0.23%
1,659		American Woodmark Corp		58,131
10,606	*	Champion Enterprises, Inc		117,090
1,376		Deltic Timber Corp		77,565
997		Skyline Corp		42,652
2,360		Universal Forest Products, Inc		148,043
		TOTAL LUMBER AND WOOD PRODUCTS		443,481
METAL MINING - 0.36%
3,151		Cleveland-Cliffs, Inc		249,843
39,274	*	Coeur d'Alene Mines Corp		188,908
17,291	*	Hecla Mining Co		90,778
2,718		Royal Gold, Inc		75,615
5,593	*	Stillwater Mining Co		70,919
		TOTAL METAL MINING		676,063
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.64%
3,888		Blyth, Inc		71,772
10,640		Callaway Golf Co		138,214
5,482		Daktronics, Inc		158,265
13,142	*	Identix, Inc		91,863
3,890	*	Jakks Pacific, Inc		78,150
6,421	*	K2, Inc		70,246
1,586		Marine Products Corp		15,432
4,575		Nautilus, Inc		71,873
5,432	*	Progressive Gaming International Corp		42,370
2,941	*	RC2 Corp		113,699
1,787	*	Russ Berrie & Co, Inc		21,909
5,018	*	Shuffle Master, Inc		164,490
896	*	Steinway Musical Instruments, Inc		21,970
5,773		Yankee Candle Co, Inc		144,383
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,204,636

301

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
MISCELLANEOUS RETAIL - 1.10%
3,194	*	1-800-FLOWERS.COM, Inc (Class A)	$	18,429
2,274	*	AC Moore Arts & Crafts, Inc		37,089
3,103		Big 5 Sporting Goods Corp		60,508
2,086	*	Blue Nile, Inc		67,086
2,006		Books-A-Million, Inc		33,460
9,065		Borders Group, Inc		167,340
2,081	*	Build-A-Bear Workshop, Inc		44,762
4,306		Cash America International, Inc		137,792
7,218	*	CKX, Inc		97,948
2,915	*	dELiA*s, Inc		23,553
10,412	*	Drugstore.com, Inc		30,195
1,665	*	Ezcorp, Inc		62,754
5,528	*	GSI Commerce, Inc		74,794
5,124	*	Hibbett Sporting Goods, Inc		122,464
4,479		Longs Drug Stores Corp		204,332
1,531	*	Overstock.com, Inc		32,549
8,270	*	Petco Animal Supplies, Inc		168,956
3,671	*	Priceline.com, Inc		109,616
1,126	*	Pricesmart, Inc		11,283
1,035	*	Sportsman's Guide, Inc		31,568
2,631	*	Stamps.com, Inc		73,194
1,179	*	Systemax, Inc		9,196
4,308	*	Valuevision International, Inc (Class A)		47,517
3,852		World Fuel Services Corp		175,998
6,718	*	Zale Corp		161,837
2,038	*	Zumiez, Inc		76,568
		TOTAL MISCELLANEOUS RETAIL		2,080,788
MOTION PICTURES - 0.38%
5,947	*	Avid Technology, Inc		198,214
26,425	*	Blockbuster, Inc (Class A)		131,596
1,876		Carmike Cinemas, Inc		39,546
2,285	*	Gaiam, Inc		32,036
7,103	*	Macrovision Corp		152,857
10,832	*	Time Warner Telecom, Inc (Class A)		160,855
		TOTAL MOTION PICTURES		715,104
NONDEPOSITORY INSTITUTIONS - 0.86%
2,499	*	Accredited Home Lenders Holding Co		119,477
9,691		Advance America Cash Advance Centers, Inc		169,980
2,804		Advanta Corp (Class B)		100,804
5,462		Ares Capital Corp		92,472
1,653		Asta Funding, Inc		61,905
7,365		CharterMac		137,799
2,830	*	CompuCredit Corp		108,785
1,316	*	Credit Acceptance Corp		35,716
12,980		Doral Financial Corp		83,202
1,541	b*	DVI, Inc		4
1,659		Federal Agricultural Mortgage Corp (Class C)		45,954
3,730		Financial Federal Corp		103,731
3,874	*	First Cash Financial Services, Inc		76,512
6,387	*	INVESTools, Inc		50,713

302

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,507		MCG Capital Corp	$	119,361
2,063		Medallion Financial Corp		26,736
2,262		NGP Capital Resources Co		33,093
5,109	*	Ocwen Financial Corp		64,935
1,054	*	Penson Worldwide, Inc		18,139
2,575		Technology Investment Capital Corp		37,724
1,435	*	United PanAm Financial Corp		43,624
2,637	*	World Acceptance Corp		93,666
		TOTAL NONDEPOSITORY INSTITUTIONS		1,624,332
NONMETALLIC MINERALS, EXCEPT FUELS - 0.10%
3,142		AMCOL International Corp		82,792
4,518		Compass Minerals International, Inc		112,724
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		195,516
OIL AND GAS EXTRACTION - 3.48%
1,518	*	Arena Resources, Inc		52,052
2,538	*	Atlas America, Inc		113,728
2,850	*	ATP Oil & Gas Corp		119,500
3,798	*	Atwood Oceanics, Inc		188,381
9,411	*	Aurora Oil & Gas Corp		37,644
1,885	*	Basic Energy Services, Inc		57,624
4,884		Berry Petroleum Co (Class A)		161,905
4,023	*	Bill Barrett Corp		119,121
2,370	*	Bois d'Arc Energy, Inc		39,034
6,426	*	Brigham Exploration Co		50,830
1,920	*	Bronco Drilling Co, Inc		40,109
2,868	*	Callon Petroleum Co		55,467
2,997	*	Carrizo Oil & Gas, Inc		93,836
816	*	Clayton Williams Energy, Inc		28,185
3,682	*	Complete Production Services, Inc		87,042
6,123	*	Comstock Resources, Inc		182,833
1,063	*	Dawson Geophysical Co		32,709
5,061		Delta & Pine Land Co		148,793
7,479	*	Delta Petroleum Corp		128,115
2,379	*	Edge Petroleum Corp		47,532
7,519	*	Encore Acquisition Co		201,735
5,381	*	Energy Partners Ltd		101,970
7,219	*	EXCO Resources, Inc		82,297
4,127	*	Exploration Co of Delaware, Inc		43,994
10,765	*	Gasco Energy, Inc		47,904
4,224	*	GeoGlobal Resources, Inc		20,655
1,133	*	GMX Resources, Inc		35,032
1,765	*	Goodrich Petroleum Corp		50,108
27,487	*	Grey Wolf, Inc		211,650
1,817	*	Gulfport Energy Corp		20,060
14,445	*	Hanover Compressor Co		271,277
5,372	*	Harvest Natural Resources, Inc		72,737
2,862	*	Hercules Offshore, Inc		100,170
4,078	*	Houston Exploration Co		249,533
7,282	*	KCS Energy, Inc		216,275
10,287	*	Mariner Energy, Inc		188,972
3,615	*	McMoRan Exploration Co		63,624
11,437	*	Meridian Resource Corp		40,030

303

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,217	*	Metretek Technologies, Inc	$	38,088
13,133	*	Newpark Resources, Inc		80,768
4,872	*	Parallel Petroleum Corp		120,387
15,610	*	Parker Drilling Co		112,080
800	v*	PetroCorp		(0	)
8,622	*	PetroHawk Energy Corp		108,637
2,319	*	Petroleum Development Corp		87,426
5,890	*	Petroquest Energy, Inc		72,329
5,845	*	Pioneer Drilling Co		90,247
105	*	PrimeEnergy Corp		8,080
2,766	*	Quest Resource Corp		37,479
2,906	*	RAM Energy Resources, Inc		16,622
4,008	*	Remington Oil & Gas Corp		176,232
7,264	*	Rosetta Resources, Inc		120,728
3,103		RPC, Inc		75,341
3,783	*	Stone Energy Corp		176,099
4,906	*	Sulphco, Inc		35,127
1,538	*	Superior Well Services, Inc		38,296
4,052	*	Swift Energy Co		173,952
5,209	*	Syntroleum Corp		31,619
1,838	*	Toreador Resources Corp		51,703
9,780	*	Transmeridian Exploration, Inc		55,746
6,382	*	Transmontaigne, Inc		71,542
1,674	*	Trico Marine Services, Inc		56,916
1,898	*	Union Drilling, Inc		28,204
8,139	*	Vaalco Energy, Inc		79,437
5,008	*	Veritas DGC, Inc		258,313
7,540	*	Warren Resources, Inc		108,274
1,364	*	Warrior Energy Service Corp		33,186
4,149	*	W-H Energy Services, Inc		210,894
5,184	*	Whiting Petroleum Corp		217,054
		TOTAL OIL AND GAS EXTRACTION		6,573,269
PAPER AND ALLIED PRODUCTS - 0.67%
7,967		Bowater, Inc		181,249
5,316	*	Buckeye Technologies, Inc		40,614
3,937	*	Caraustar Industries, Inc		35,433
7,698	*	Cenveo, Inc		138,179
2,901		Chesapeake Corp		47,605
6,254		Glatfelter		99,251
11,235	*	Graphic Packaging Corp		42,581
2,282		Greif, Inc (Class A)		171,059
7,167		Longview Fibre Co		136,818
4,414	*	Mercer International, Inc		38,314
2,060		Neenah Paper, Inc		62,727
7,898	*	Playtex Products, Inc		82,376
4,411		Rock-Tenn Co (Class A)		70,355
2,084		Schweitzer-Mauduit International, Inc		45,119
6,300		Wausau Paper Corp		78,435
		TOTAL PAPER AND ALLIED PRODUCTS		1,270,115
PERSONAL SERVICES - 0.35%
3,560		Coinmach Service Corp		36,490
4,022	*	Coinstar, Inc		96,287

304

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,974		G & K Services, Inc (Class A)	$	102,008
5,100		Jackson Hewitt Tax Service, Inc		159,885
6,371		Regis Corp		226,871
1,269		Unifirst Corp		43,781
		TOTAL PERSONAL SERVICES		665,322
PETROLEUM AND COAL PRODUCTS - 0.32%
1,702		Alon USA Energy, Inc		53,562
1,456	*	Delek US Holdings, Inc		22,131
3,008		ElkCorp		83,532
2,085	*	Giant Industries, Inc		138,757
5,972	*	Headwaters, Inc		152,644
2,329		WD-40 Co		78,185
3,098		Western Refining, Inc		66,855
		TOTAL PETROLEUM AND COAL PRODUCTS		595,666
PRIMARY METAL INDUSTRIES - 2.25%
15,542	*	AK Steel Holding Corp		214,946
4,480	*	Aleris International, Inc		205,408
6,121		Belden CDT, Inc		202,299
2,890	*	Brush Engineered Materials, Inc		60,257
3,277	*	Century Aluminum Co		116,956
3,204	*	Chaparral Steel Co		230,752
8,100	*	CommScope, Inc		254,502
3,284	*	Encore Wire Corp		118,027
7,101	*	General Cable Corp		248,535
3,538		Gibraltar Industries, Inc		102,602
4,321	*	Lone Star Technologies, Inc		233,420
4,645		Matthews International Corp (Class A)		160,113
5,215	*	Maverick Tube Corp		329,536
5,154		Mueller Industries, Inc		170,237
3,139	*	NS Group, Inc		172,896
1,181		Olympic Steel, Inc		41,796
5,097	*	Oregon Steel Mills, Inc		258,214
5,304		Quanex Corp		228,443
3,217	*	RTI International Metals, Inc		179,637
3,193		Schnitzer Steel Industries, Inc (Class A)		113,288
1,576		Steel Technologies, Inc		30,637
2,842	*	Superior Essex, Inc		85,061
3,235		Texas Industries, Inc		171,778
4,819		Tredegar Corp		76,237
1,523	*	Wheeling-Pittsburgh Corp		30,292
10,228		Worthington Industries, Inc		214,277
		TOTAL PRIMARY METAL INDUSTRIES		4,250,146
PRINTING AND PUBLISHING - 1.26%
6,330	*	ACCO Brands Corp		138,627
7,448		American Greetings Corp (Class A)		156,482
3,488		Banta Corp		161,599
12,458		Belo (A.H.) Corp Series A		194,345
4,757		Bowne & Co, Inc		68,025
1,541	*	Consolidated Graphics, Inc		80,224
1,337		Courier Corp		53,507
947		CSS Industries, Inc		27,226

305

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,777		Ennis, Inc	$	74,331
10,586		Hollinger International, Inc		85,006
3,805		John H Harland Co		165,517
5,988		Journal Communications, Inc		67,305
5,956		Journal Register Co		53,366
6,383		Lee Enterprises, Inc		172,022
3,490	*	Martha Stewart Living Omnimedia, Inc (Class A)		58,318
3,046		Media General, Inc (Class A)		127,597
2,809	*	Playboy Enterprises, Inc (Class B)		28,034
4,064	*	Presstek, Inc		37,836
28,073	*	Primedia, Inc		51,374
3,570	*	Private Media Group Ltd		15,886
13,854		Reader's Digest Association, Inc (Class A)		193,402
2,184		Schawk, Inc		38,220
4,919	*	Scholastic Corp		127,746
2,690		Standard Register Co		31,877
6,908	*	Valassis Communications, Inc		162,960
		TOTAL PRINTING AND PUBLISHING		2,370,832
RAILROAD TRANSPORTATION - 0.23%
4,975		Florida East Coast Industries		260,342
5,034	*	Genesee & Wyoming, Inc (Class A)		178,556
		TOTAL RAILROAD TRANSPORTATION		438,898
REAL ESTATE - 0.26%
5,612	*	Alderwoods Group, Inc		109,210
1,436	*	California Coastal Communities, Inc		45,952
871		Consolidated-Tomoka Land Co		48,027
2,028	*	Housevalues, Inc		14,054
545		Orleans Homebuilders, Inc		8,856
15,531		Stewart Enterprises, Inc (Class A)		89,303
5,098	*	Trammell Crow Co		179,297
		TOTAL REAL ESTATE		494,699
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.50%
1,010	*	AEP Industries, Inc		33,754
2,269	*	Applied Films Corp		64,644
8,754		Cooper Tire & Rubber Co		97,520
1,473	*	Deckers Outdoor Corp		56,799
1,486		PW Eagle, Inc		44,937
4,136		Schulman (A.), Inc		94,673
1,617	*	Skechers U.S.A., Inc (Class A)		38,986
4,405		Spartech Corp		99,553
2,161		Titan International, Inc		40,432
1,765	*	Trex Co, Inc		45,696
8,565		Tupperware Corp		168,645
4,533		West Pharmaceutical Services, Inc		164,457
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		950,096
SECURITY AND COMMODITY BROKERS - 0.91%
3,279		Calamos Asset Management, Inc (Class A)		95,058
1,829		Cohen & Steers, Inc		43,164
909		GAMCO Investors, Inc		33,415
1,686	*	GFI Group, Inc		90,960

306

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,491		Greenhill & Co, Inc	$	151,353
5,375		International Securities Exchange, Inc		204,626
14,924	*	Knight Capital Group, Inc		227,293
7,657	*	LaBranche & Co, Inc		92,726
4,120	*	MarketAxess Holdings, Inc		45,361
1,988	*	Morningstar, Inc		82,462
2,890		optionsXpress Holdings, Inc		67,366
2,933	*	Piper Jaffray Cos		179,529
1,631		Sanders Morris Harris Group, Inc		24,644
1,681	*	Stifel Financial Corp		59,356
2,211		SWS Group, Inc		53,329
798	*	Thomas Weisel Partners Group, Inc		15,170
182		Value Line, Inc		7,771
11,977		Waddell & Reed Financial, Inc (Class A)		246,247
		TOTAL SECURITY AND COMMODITY BROKERS		1,719,830
SOCIAL SERVICES - 0.15%
3,877	*	Bright Horizons Family Solutions, Inc		146,124
3,076	*	Capital Senior Living Corp		31,621
1,641	*	Providence Service Corp		44,684
3,193	*	Res-Care, Inc		63,860
		TOTAL SOCIAL SERVICES		286,289
SPECIAL TRADE CONTRACTORS - 0.44%
599		Alico, Inc		33,011
3,697		Chemed Corp		201,597
5,840		Comfort Systems USA, Inc		83,454
5,910	*	Dycom Industries, Inc		125,824
4,417	*	EMCOR Group, Inc		214,975
3,714	*	Insituform Technologies, Inc (Class A)		85,013
2,166	*	Integrated Electrical Services, Inc		37,840
1,755	*	Layne Christensen Co		49,754
		TOTAL SPECIAL TRADE CONTRACTORS		831,468
STONE, CLAY, AND GLASS PRODUCTS - 0.19%
4,085		Apogee Enterprises, Inc		60,050
3,406	*	Cabot Microelectronics Corp		103,236
2,753		CARBO Ceramics, Inc		135,255
4,726	*	US Concrete, Inc		52,222
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		350,763
TEXTILE MILL PRODUCTS - 0.06%
2,139		Oxford Industries, Inc		84,298
2,794		Xerium Technologies, Inc		26,319
		TOTAL TEXTILE MILL PRODUCTS		110,617
TOBACCO PRODUCTS - 0.11%
3,642		Universal Corp		135,555
4,892		Vector Group Ltd		79,495
		TOTAL TOBACCO PRODUCTS		215,050
TRANSPORTATION BY AIR - 0.94%
8,359	*	ABX Air, Inc		50,488
1,467	*	Air Methods Corp		38,406

307

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
12,805	*	Airtran Holdings, Inc	$	190,282
5,601	*	Alaska Air Group, Inc		220,791
2,789	*	Atlas Air Worldwide Holdings, Inc		136,773
3,413	*	Bristow Group, Inc		122,868
4,444	*	EGL, Inc		223,089
6,782	*	ExpressJet Holdings, Inc		46,864
4,780	*	Frontier Airlines Holdings, Inc		34,464
24,550	*	JetBlue Airways Corp		298,037
5,523	*	Mesa Air Group, Inc		54,402
1,928	*	PHI, Inc		64,010
4,567	*	Republic Airways Holdings, Inc		77,730
9,033		Skywest, Inc		224,018
		TOTAL TRANSPORTATION BY AIR		1,782,222
TRANSPORTATION EQUIPMENT - 2.04%
2,857		A.O. Smith Corp		132,451
5,128	*	AAR Corp		113,995
3,205	*	Accuride Corp		39,966
2,896	*	Aftermarket Technology Corp		71,966
7,223		American Axle & Manufacturing Holdings, Inc		123,586
1,151		American Railcar Industries, Inc		38,110
1,923		Arctic Cat, Inc		37,518
10,196		ArvinMeritor, Inc		175,269
4,782	*	Aviall, Inc		227,241
7,422		Clarcor, Inc		221,101
2,067	*	Comtech Group, Inc		23,006
6,978		Federal Signal Corp		105,647
8,768	*	Fleetwood Enterprises, Inc		66,111
1,777		Freightcar America, Inc		98,641
7,561	*	GenCorp, Inc		121,203
1,433	*	GenTek, Inc		38,476
1,911		Greenbrier Cos, Inc		62,566
3,498		Group 1 Automotive, Inc		197,077
3,086		Heico Corp		87,488
3,167	*	IMPCO Technologies, Inc		33,792
2,446	*	K&F Industries Holdings, Inc		43,368
3,165		Kaman Corp (Class A)		57,603
1,350	*	Miller Industries, Inc		27,945
3,519		Monaco Coach Corp		44,691
8,673	*	Navistar International Corp		213,443
1,863		Noble International Ltd		26,678
8,090	*	Orbital Sciences Corp		130,573
5,831		Polaris Industries, Inc		252,482
939	*	Sequa Corp (Class A)		76,529
3,059		Superior Industries International, Inc		55,949
6,379	*	Tenneco, Inc		165,854
1,559	*	TransDigm Group, Inc		37,338
2,254	*	Triumph Group, Inc		108,192
18,436	*	Visteon Corp		132,924
4,647		Wabash National Corp		71,378
6,761		Westinghouse Air Brake Technologies Corp		252,861
4,631		Winnebago Industries, Inc		143,746
		TOTAL TRANSPORTATION EQUIPMENT		3,856,764

308

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION SERVICES - 0.40%
2,918		Ambassadors Group, Inc	$	84,272
1,010		Ambassadors International, Inc		23,483
1,549	*	Dynamex, Inc		33,784
5,750	*	HUB Group, Inc		141,048
9,514		Lear Corp		211,306
2,197	*	Navigant International, Inc		35,218
5,183		Pacer International, Inc		168,862
5,371	*	RailAmerica, Inc		56,181
		TOTAL TRANSPORTATION SERVICES		754,154
TRUCKING AND WAREHOUSING - 0.62%
3,601		Arkansas Best Corp		180,806
3,128	*	Celadon Group, Inc		68,941
4,499		Forward Air Corp		183,244
8,719		Heartland Express, Inc		155,983
1,976	*	Marten Transport Ltd		42,958
3,976	*	Old Dominion Freight Line		149,458
725	*	P.A.M. Transportation Services, Inc		20,945
203	*	Patriot Transportation Holding, Inc		17,616
1,198	*	Quality Distribution, Inc		15,909
2,084	*	SCS Transportation, Inc		57,373
7,002	*	SIRVA, Inc		45,303
1,359	*	U.S. Xpress Enterprises, Inc (Class A)		36,720
907	*	Universal Truckload Services, Inc		30,956
1,094	*	USA Truck, Inc		19,495
7,358		Werner Enterprises, Inc		149,147
		TOTAL TRUCKING AND WAREHOUSING		1,174,854
WATER TRANSPORTATION - 0.27%
4,286	*	American Commercial Lines, Inc		258,232
2,084	*	Gulfmark Offshore, Inc		53,830
2,283		Horizon Lines, Inc		36,574
3,468	*	Hornbeck Offshore Services, Inc		123,183
1,716		Maritrans, Inc		42,728
		TOTAL WATER TRANSPORTATION		514,547
WHOLESALE TRADE-DURABLE GOODS - 1.25%
4,312		Agilysys, Inc		77,616
6,448		Applied Industrial Technologies, Inc		156,751
5,344		Barnes Group, Inc		106,613
6,188	*	Beacon Roofing Supply, Inc		136,198
1,559		BlueLinx Holdings, Inc		20,314
4,142		Building Material Holding Corp		115,438
1,494		Castle (A.M.) & Co		48,182
3,216	*	Conceptus, Inc		43,866
3,141	*	Digi International, Inc		39,357
2,614	*	Drew Industries, Inc		84,694
5,081	*	Genesis Microchip, Inc		58,736
15,385		IKON Office Solutions, Inc		193,851
6,706	*	Insight Enterprises, Inc		127,749
3,833	*	Interline Brands, Inc		89,616
2,283	*	Keystone Automotive Industries, Inc		96,388
8,197		Knight Transportation, Inc		165,579

309

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
743		Lawson Products, Inc	$	29,289
6,313	*	LKQ Corp		119,947
2,816	*	Merge Technologies, Inc		34,665
591	*	MWI Veterinary Supply, Inc		21,530
5,553		Owens & Minor, Inc		158,816
7,565		PEP Boys-Manny Moe & Jack		88,737
9,414	*	PSS World Medical, Inc		166,157
3,682		Ryerson Tull, Inc		99,414
5,534	*	Tyler Technologies, Inc		61,981
1,972	*	West Marine, Inc		26,583
		TOTAL WHOLESALE TRADE-DURABLE GOODS		2,368,067
WHOLESALE TRADE-NONDURABLE GOODS - 1.19%
6,277	*	Akorn, Inc		24,982
13,422		Alliance One International, Inc		59,594
6,535	*	Allscripts Healthcare Solutions, Inc		114,689
4,491	*	Central European Distribution Corp		112,994
1,401	*	Core-Mark Holding Co, Inc		50,156
83	b*	Daisytek International Corp		0
669	*	Green Mountain Coffee Roasters, Inc		26,874
4,389	*	Hain Celestial Group, Inc		113,061
1,325		Kenneth Cole Productions, Inc (Class A)		29,587
3,642		K-Swiss, Inc (Class A)		97,241
545	*	Maui Land & Pineapple Co, Inc		20,601
6,686		Men's Wearhouse, Inc		202,586
3,670		Myers Industries, Inc		63,087
1,812		Nash Finch Co		38,577
7,894		Nu Skin Enterprises, Inc (Class A)		117,226
2,193	*	Nuco2, Inc		52,720
4,828	*	Performance Food Group Co		146,675
1,218	*	Perry Ellis International, Inc		30,828
3,377	*	School Specialty, Inc		107,557
1,954	*	Smart & Final, Inc		32,905
4,544	*	Source Interlink Cos, Inc		54,074
2,744		Spartan Stores, Inc		40,145
5,381		Stride Rite Corp		70,975
13,197	*	Terra Industries, Inc		84,065
1,790		The Andersons, Inc		74,482
5,853	*	United Natural Foods, Inc		193,266
4,494	*	United Stationers, Inc		221,644
347		Valley National Gases, Inc		9,074
1,853	*	Volcom, Inc		59,277
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,248,942
		TOTAL COMMON STOCKS		185,553,029
		(Cost $159,917,278)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.65%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.65%
$     1,230,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		1,230,000

310

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
				VALUE
		TOTAL SHORT-TERM INVESTMENTS	$	1,230,000
		(Cost $1,229,667)
		TOTAL PORTFOLIO - 98.85%		186,783,029
		(Cost $161,146,945)
		OTHER ASSETS & LIABILITIES, NET - 1.15%		2,165,923
		NET ASSETS - 100.00%	$	188,948,952
	*	Non-income producing
	b	In bankruptcy
	v	Security valued at fair value
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

311

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INTERNATIONAL EQUITY INDEX FUND
SUMMARY OF MARKET VALUES BY COUNTRIES (Unaudited)
June 30, 2006

				% OF
		VALUE		MARKET VALUE
DOMESTIC
UNITED STATES		$	7,089,762	1.84	%
	TOTAL DOMESTIC		7,089,762	1.84
FOREIGN
AUSTRALIA			19,962,025	5.18
AUSTRIA			2,019,293	0.52
BELGIUM			4,288,373	1.11
DENMARK			2,680,938	0.70
FINLAND			5,540,268	1.44
FRANCE			37,311,832	9.68
GERMANY			26,062,405	6.76
GREECE			2,412,368	0.63
HONG KONG			6,152,289	1.60
IRELAND			2,983,430	0.77
ITALY			14,372,977	3.73
JAPAN			92,821,051	24.08
NETHERLANDS			12,458,022	3.23
NEW ZEALAND			517,470	0.13
NORWAY			3,264,858	0.85
PORTUGAL			1,199,497	0.31
SINGAPORE			2,998,038	0.78
SPAIN			14,420,446	3.74
SWEDEN			8,807,639	2.29
SWITZERLAND			25,859,103	6.71
UNITED KINGDOM			92,207,535	23.92
	TOTAL FOREIGN		378,339,857	98.16
	TOTAL PORTFOLIO	$	385,429,619	100.00	%

312

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INTERNATIONAL EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 99.59%
AGRICULTURAL PRODUCTION-CROPS - 0.09%
22,188		Gallaher Group plc	$	346,770
		TOTAL AGRICULTURAL PRODUCTION-CROPS		346,770
AGRICULTURAL SERVICES - 0.02%
7,103		Yara International ASA		94,743
		TOTAL AGRICULTURAL SERVICES		94,743
AMUSEMENT AND RECREATION SERVICES - 0.44%
11,491		Aristocrat Leisure Ltd		109,960
698	*	BetandWin.com Interactive Entertainment AG.		55,335
18,330		Ladbrokes plc		138,152
2,312		Lottomatica S.p.A		87,682
7,440		OPAP S.A.		269,222
1,800		Oriental Land Co Ltd		101,404
1,341		Paddy Power plc		23,234
32,599		PartyGaming plc		69,639
3,802		Publishing & Broadcasting Ltd		51,438
19,551		Rank Group plc		72,140
13		Round One Corp		46,398
6,000		Sega Sammy Holdings, Inc		222,543
11,998		Sportingbet plc		87,321
17,980		TABCORP Holdings Ltd		203,045
3,385		UNiTAB Ltd		37,120
12,395		William Hill plc		143,626
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,718,259
APPAREL AND ACCESSORY STORES - 0.33%
1,600		Aoyama Trading Co Ltd		50,107
14,714		Burberry Group plc		117,021
1,800		Fast Retailing Co Ltd		147,225
39,000		Giordano International Ltd		18,453
16,094		Hennes & Mauritz AB (B Shs)		623,344
7,212		Inditex S.A.		304,129
6,230		SSL International plc		34,251
		TOTAL APPAREL AND ACCESSORY STORES		1,294,530
APPAREL AND OTHER TEXTILE PRODUCTS - 0.17%
4,000		Asics Corp		40,800
1,879		Benetton Group S.p.A.		28,062
9,000		Gunze Ltd		53,694
17,000		Mitsubishi Rayon Co Ltd		138,599
6,000		Nisshinbo Industries, Inc		65,713
5,000		Onward Kashiyama Co Ltd		77,024
700		Shimamura Co Ltd		76,788
2,000		Tokyo Style Co Ltd		23,811

313

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
24,000		Toyobo Co Ltd	$	68,023
5,000		Wacoal Holdings Corp		70,157
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		642,671
AUTO REPAIR, SERVICES AND PARKING - 0.10%
6,100		Aisin Seiki Co Ltd		181,428
3,800		NOK Corp		110,362
1,500		Park24 Co Ltd		44,220
5,800		Sumitomo Rubber Industries, Inc		63,878
		TOTAL AUTO REPAIR, SERVICES AND PARKING		399,888
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.01%
4,834		Jardine Cycle & Carriage Ltd		30,569
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		30,569
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.14%
6,623		Grafton Group plc		83,415
80,109		Kingfisher plc		353,375
3,936		Travis Perkins plc		110,144
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		546,934
BUSINESS SERVICES - 2.32%
8	*	Access Co Ltd		57,385
873		Acciona S.A.		135,570
4,439		Adecco S.A.		261,992
28,475		Aegis Group plc		68,597
11,336		Aggreko plc		60,226
1,300		Asatsu-DK, Inc		42,077
2,160	*	Atos Origin S.A.		141,270
9,434		Autostrade S.p.A.		265,019
32,616		Brambles Industries Ltd		266,553
3,109	*	Business Objects S.A.		84,794
4,018		Cap Gemini S.A.		229,292
300		Capcom Co Ltd		3,601
6,325		Cintra Concesiones de Infraestructuras de Transporte S.A.		82,654
14,563		Computershare Ltd		84,934
1,900		CSK Holdings Corp		86,760
1,725		Dassault Systemes S.A.		92,418
57		Dentsu, Inc		157,565
19		Dolmen Computer Applications		273
36		eAccess Ltd		23,650
2,000	*	Elpida Memory, Inc		75,231
16,616		First Choice Holidays plc		70,300
700		Fuji Soft ABC, Inc		23,085
62,000		Fujitsu Ltd		481,074
3,388		Getronics NV		36,433
7,030		GN Store Nord		80,739
33		Goodwill Group, Inc		24,393
34,431		Group 4 Securicor plc		106,826
4,588		Gruppo Editoriale L'Espresso S.p.A.		24,492
840		Hakuhodo DY Holdings, Inc		61,871
48,690		Hays plc		121,574
3,832		Indra Sistemas S.A.		75,212
35	*	KK DaVinci Advisors		34,597

314

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
2,800		Konami Corp	$	61,847
36,795		LogicaCMG plc		118,755
10,743		Michael Page International plc		69,643
16,957		Misys plc		67,430
330		MJ Maillis S.A.		1,051
69,000		NEC Corp		368,193
800		Nomura Research Institute Ltd		99,095
43		NTT Data Corp		186,196
300		Obic Co Ltd		60,727
900		Oracle Corp Japan		42,120
1,000		Otsuka Corp		112,846
2,070		Promotora de Informaciones S.A.		33,217
3,119		Public Power Corp		73,860
215		Rakuten, Inc		127,892
1,446		Randstad Holdings NV		84,755
60,824		Rentokil Initial plc		175,495
45,595		Reuters Group plc		324,671
41,163		Sage Group plc		175,677
7,443		SAP AG.		1,570,303
7,500		Secom Co Ltd		354,940
10,202		Securitas AB (B Shs)		195,445
138		SGS S.A.		130,678
36,000		Singapore Post Ltd		24,587
52,000		Solomon Systech International Ltd		13,122
6,462		Telefonica Publicidad e Informacion S.A.		69,985
4,715	*	Telelogic AB		10,473
2,262		Tietoenator Oyj		65,308
1,000		TIS, Inc		27,993
200		Trans Cosmos, Inc		4,951
3,500		Trend Micro, Inc		118,182
1,040		USS Co Ltd		68,778
7,982		WM-Data AB (B Shs)		24,599
40,068		WPP Group plc		485,035
511		Yahoo! Japan Corp		270,888
		TOTAL BUSINESS SERVICES		8,979,194
CHEMICALS AND ALLIED PRODUCTS - 10.16%
4,071		Air Liquide S.A.		792,780
600		Alfresa Holdings Corp		37,318
2,131		Altana AG.		118,692
1,785	*	Arkema		69,636
41,000		Asahi Kasei Corp		267,918
18,100		Astellas Pharma, Inc		665,005
53,096		AstraZeneca plc		3,205,369
17,352		BASF AG.		1,392,908
23,262		Bayer AG.		1,068,998
469		Beiersdorf AG.		70,649
17,177		BOC Group plc		502,279
16,529		Boots Group plc		235,246
10,000		Chugai Pharmaceutical Co Ltd		204,260
2,520		Ciba Specialty Chemicals AG.		140,194
7,866		Clariant AG.		111,408
5,942		CSL Ltd		237,285
8,000		Daicel Chemical Industries Ltd		65,433

315

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
15,800		Daiichi Sankyo Co Ltd	$	435,376
20,000		Dainippon Ink and Chemicals, Inc		75,056
4,869		DSM NV		202,710
8,000		Eisai Co Ltd		360,408
13,774	*	Elan Corp plc		228,958
196,129		GlaxoSmithKline plc		5,481,159
1,609		H Lundbeck A/S		36,683
1,449		Haw Par Corp Ltd		5,223
1,869		Henkel KGaA		213,552
3,300		Hitachi Chemical Co Ltd		86,603
40,052		Imperial Chemical Industries plc		268,904
5,800		JSR Corp		146,630
3,000		Kaken Pharmaceutical Co Ltd		22,543
8,000		Kansai Paint Co Ltd		63,894
17,000		Kao Corp		445,392
19,500		Kingboard Chemical Holdings Ltd		54,983
700		Kose Corp		22,044
12,000		Kuraray Co Ltd		134,366
8,000		Kyowa Hakko Kogyo Co Ltd		53,956
667	*	Lanxess AG.		26,319
2,672	*	Linde AG.		10,318
2,672		Linde AG.		205,847
1,202		Lonza Group AG.		82,276
9,981		L'Oreal S.A.		942,489
19,736	*	Mayne Pharma Ltd		38,123
4,700		Mediceo Paltac Holdings Co Ltd		84,079
1,553		Merck KGaA		141,186
39,500		Mitsubishi Chemical Holdings Corp		247,059
13,000		Mitsubishi Gas Chemical Co, Inc		149,202
20,000		Mitsui Chemicals, Inc		130,692
4,000		Nippon Kayaku Co Ltd		33,346
5,000		Nippon Shokubai Co Ltd		61,191
5,000		Nissan Chemical Industries Ltd		62,372
78,092		Novartis AG.		4,220,155
8,035		Novo Nordisk A/S (B Shs)		511,678
1,577		Novozymes A/S		106,507
532		Omega Pharma S.A.		37,141
10,413		Orica Ltd		184,821
20,638		Reckitt Benckiser plc		771,055
23,626		Roche Holding AG.		3,897,808
34,151		Sanofi-Aventis		3,331,805
2,000		Santen Pharmaceutical Co Ltd		47,588
164		Serono S.A. (B Shs)		113,060
13,100		Shin-Etsu Chemical Co Ltd		712,785
11,000		Shionogi & Co Ltd		196,300
12,000		Shiseido Co Ltd		235,665
31,000		Showa Denko KK		138,031
898	*	SNIA S.p.A.		96
1,776	*	Sorin S.p.A.		3,066
48,000		Sumitomo Chemical Co Ltd		400,577
18,745		Symbion Health Ltd		42,615
3,629		Syngenta AG.		481,398
6,000		Taisho Pharmaceutical Co Ltd		117,832
7,000		Taiyo Nippon Sanso Corp		55,601

316

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
29,900		Takeda Pharmaceutical Co Ltd	$	1,862,293
8,000		Tanabe Seiyaku Co Ltd		98,535
26,000		Teijin Ltd		165,123
9,000		Tokuyama Corp		133,841
43,000		Toray Industries, Inc		373,521
16,000		Tosoh Corp		63,824
2,797		UCB S.A.		151,281
41,752		Unilever plc		939,025
4,236		Zeltia S.A.		31,144
6,000		Zeon Corp		71,487
		TOTAL CHEMICALS AND ALLIED PRODUCTS		39,233,975
COAL MINING - 0.81%
117,845		BHP Billiton Ltd		2,539,035
15,398		Xstrata plc		583,827
		TOTAL COAL MINING		3,122,862
COMMUNICATIONS - 5.69%
2,361		Antena 3 de Television S.A.		53,917
5,151		Belgacom S.A.		170,783
39,839		British Sky Broadcasting plc		422,579
282,702		BT Group plc		1,250,970
78,698		Cable & Wireless plc		167,389
12,862		Carphone Warehouse Group plc		75,530
4,130		Cosmote Mobile Telecommunications S.A.		92,942
92,090		Deutsche Telekom AG.		1,481,306
22,997		Eircom Group plc		63,809
4,732		Elisa Oyj		90,093
57,191		France Telecom S.A.		1,229,269
16		Fuji Television Network, Inc		35,551
10,344	*	Hellenic Telecommunications Organization S.A.		227,758
41,000	*	Hutchison Telecommunications International Ltd		65,984
1,200		I-CABLE Communications Ltd		267
139,375		ITV plc		278,404
83		KDDI Corp		510,423
2,136		M6-Metropole Television		66,832
25,911		Mediaset S.p.A.		305,469
1,023		Mobistar S.A.		81,165
1,663	*	Modern Times Group AB		87,381
1,663	v*	Modern Times Group AB		7,041
177		Nippon Telegraph & Telephone Corp		868,626
635		NTT DoCoMo, Inc		933,211
26,138		Portugal Telecom SGPS S.A.		315,498
2,435		ProSiebenSat.1 Media AG.		60,807
2,126		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		24,602
4,616		Publicis Groupe S.A.		178,248
65,342		Royal KPN NV		734,400
115,051		Seat Pagine Gialle S.p.A.		53,548
245,214		Singapore Telecommunications Ltd		393,868
4,230		Sky Network Television Ltd		14,840
3,915		Societe Television Francaise 1		127,651
1,060	*	Sogecable S.A.		30,482
612		Swisscom AG.		201,086
10,696		Tele2 AB (B Shs)		108,022

317

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
76,967		Telecom Corp of New Zealand Ltd	$	189,724
553,862		Telecom Italia S.p.A.		1,542,096
150,938		Telefonica S.A.		2,512,819
11,693		Telekom Austria AG.		260,301
25,747		Telenor ASA		311,359
8,000		Television Broadcasts Ltd		49,440
62,992		TeliaSonera AB		357,658
72,535		Telstra Corp Ltd		198,315
6,312	*	Tiscali S.p.A.		18,745
1,000		Tokyo Broadcasting System, Inc		24,100
38,999		Vivendi Universal S.A.		1,366,330
620,000		Vodafone Group plc		1,321,596
141,651		Vodafone Group plc (ADR)		3,017,166
		TOTAL COMMUNICATIONS		21,979,400
DEPOSITORY INSTITUTIONS - 17.36%
11,000		77 Bank Ltd		76,692
61,521		ABN AMRO Holding NV		1,682,619
29,748		Allied Irish Banks plc		713,579
13,043		Alpha Bank S.A.		324,876
62,053		Australia & New Zealand Banking Group Ltd		1,225,859
9,225		Banca Fideuram S.p.A.		53,670
8,428		Banca Intesa S.p.A.		45,746
152,901		Banca Intesa S.p.A.		895,421
35,384		Banca Monte dei Paschi di Siena S.p.A.		212,646
13,531		Banca Popolare di Milano		172,409
11,548		Banche Popolari Unite Scpa		298,713
115,138		Banco Bilbao Vizcaya Argentaria S.A.		2,367,316
8,765		Banco BPI S.A.		66,572
68,856		Banco Comercial Portugues S.A.		195,455
6,474		Banco Espirito Santo S.A.		87,250
12,201		Banco Popolare di Verona e Novara Scrl		326,837
27,780		Banco Popular Espanol S.A.		413,818
201,829		Banco Santander Central Hispano S.A.		2,947,143
48,017		Bank of East Asia Ltd		197,521
20,000		Bank of Fukuoka Ltd		152,211
1,325		Bank of Ireland		23,634
31,724		Bank of Ireland		565,866
8,000		Bank of Kyoto Ltd		86,428
39,000		Bank of Yokohama Ltd		301,929
219,954		Barclays plc		2,499,884
28,087		BNP Paribas		2,688,121
128,000		BOC Hong Kong Holdings Ltd		250,496
56,589		Capitalia S.p.A.		464,173
25,000		Chiba Bank Ltd		234,003
4,163		Close Brothers Group plc		70,144
20,853		Commerzbank AG.		758,315
43,690		Commonwealth Bank of Australia		1,441,525
20,244		Credit Agricole S.A.		770,078
14,477		Danske Bank A/S		550,914
39,000		DBS Group Holdings Ltd		446,391
11,791		Depfa Bank plc		195,392
17,300		Deutsche Bank AG.		1,946,616
18,795		Dexia		451,806

318

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
22,737		DNB NOR Holding ASA	$	282,267
7,800		EFG Eurobank Ergasias S.A.		216,225
3,041	*	Emporiki Bank of Greece S.A.		105,297
6,290		Erste Bank der Oesterreichischen Sparkassen AG.		353,879
39,670		Fortis		1,350,274
11,000		Gunma Bank Ltd		81,792
26,700		Hang Seng Bank Ltd		338,606
38,000		Hokuhoku Financial Group, Inc		158,894
384,109		HSBC Holdings plc		6,759,731
2,063		Investec plc		98,443
24,000		Joyo Bank Ltd		145,703
1,918	*	Jyske Bank		111,126
189,827		Lloyds TSB Group plc		1,866,068
16,251		Mediobanca S.p.A.		318,132
292		Mitsubishi UFJ Financial Group, Inc		4,086,953
19,000		Mitsui Trust Holdings, Inc		228,535
326		Mizuho Financial Group. Inc		2,763,364
54,320		National Australia Bank Ltd		1,418,953
8,679	*	National Bank of Greece S.A.		27,411
11,979		National Bank of Greece S.A.		472,987
16,000		Nishi-Nippon City Bank Ltd		76,700
73,255		Nordea Bank AB		874,571
2,608		OKO Bank		38,349
85,520		Oversea-Chinese Banking Corp		356,930
6,587		Piraeus Bank S.A.		156,658
1,055		Raiffeisen International Bank Holding AG.		91,595
154		Resona Holdings, Inc		486,323
107,825		Royal Bank of Scotland Group plc		3,545,825
37,774		Sanpaolo IMI S.p.A.		667,985
11		Sapporo Hokuyo Holdings, Inc		115,470
46,000		Shinsei Bank Ltd		291,738
20,000		Shizuoka Bank Ltd		216,245
15,743		Skandinaviska Enskilda Banken AB (A Shs)		374,810
11,728		Societe Generale (A Shs)		1,724,540
202		Sumitomo Mitsui Financial Group, Inc		2,138,127
43,000		Sumitomo Trust & Banking Co Ltd		470,192
7,000		Suruga Bank Ltd		94,423
17,677		Svenska Handelsbanken AB (A Shs)		455,210
1,995		Sydbank A/S		66,172
35,096	*	UBS AG.		3,839,073
263,180		UniCredito Italiano S.p.A		2,059,472
38,000		United Overseas Bank Ltd		374,870
62,367		Westpac Banking Corp		1,078,692
5,000		Wing Hang Bank Ltd		43,775
		TOTAL DEPOSITORY INSTITUTIONS		67,024,453
EATING AND DRINKING PLACES - 0.33%
3,634		Autogrill S.p.A.		55,899
72,661		Compass Group plc		352,438
10,880		Enterprise Inns plc		190,767
16,251		Mitchells & Butlers plc		154,944
8,432		Punch Taverns plc		136,460
200		Saizeriya Co Ltd		3,147
2,200		Skylark Co Ltd		48,016

319

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
3,058		Sodexho Alliance S.A.	$	146,903
7,079		Whitbread plc		152,664
8,329	v*	Whitbread plc (B shrs)		23,878
		TOTAL EATING AND DRINKING PLACES		1,265,116
EDUCATIONAL SERVICES - 0.02%
2,200		Benesse Corp		76,018
		TOTAL EDUCATIONAL SERVICES		76,018
ELECTRIC, GAS, AND SANITARY SERVICES - 5.09%
8,862		Alinta Ltd		68,671
15,222		Australian Gas Light Co Ltd		198,024
4,254		Caltex Australia Ltd		74,588
121,978		Centrica plc		643,537
21,500		Chubu Electric Power Co, Inc		581,157
59,500		CLP Holdings Ltd		348,175
8,998		Contact Energy Ltd		39,090
20,970		E.ON AG.		2,413,732
5,200		Electric Power Development Co		198,329
32,078		Endesa S.A.		1,115,239
145,657		Enel S.p.A.		1,255,286
63,070		Energias de Portugal S.A.		247,578
14,497		Fortum Oyj		370,732
5,913		Gas Natural SDG S.A.		180,473
6,608		Gaz de France		221,795
6,800		Hokkaido Electric Power Co, Inc		161,501
112,000		Hong Kong & China Gas Ltd		245,861
43,500		Hong Kong Electric Holdings Ltd		196,862
27,186		Iberdrola S.A.		936,124
49,425		International Power plc		260,073
27,300		Kansai Electric Power Co, Inc		611,363
11,958		Kelda Group plc		169,305
13,100		Kyushu Electric Power Co, Inc		304,824
91,705		National Grid plc		992,236
2,390		Oest Elektrizitatswirts		114,905
69,000		Osaka Gas Co Ltd		222,123
454		Puma AG. Rudolf Dassler Sport		176,433
16,119		RWE AG.		1,340,717
28,968		Scottish & Southern Energy plc		616,680
50,016		Scottish Power plc		539,316
25,460		SembCorp Industries Ltd		52,165
11,700		Severn Trent plc		253,185
31,645		Snam Rete Gas S.p.A.		139,091
10	*	Sociedad General de Aguas de Barcelona S.A.		269
1,433		Sociedad General de Aguas de Barcelona S.A.		39,816
11,000	*	Sojitz Holdings Corp		43,494
2,616	v*	Suez S.A.		33
34,328		Suez S.A.		1,426,538
14,600		Tohoku Electric Power Co, Inc		320,570
39,200		Tokyo Electric Power Co, Inc		1,083,602
76,000		Tokyo Gas Co Ltd		358,343
5,955		Union Fenosa S.A.		230,411
29,992		United Utilities plc		355,851
6,677		Vector Ltd		9,940

320

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
9,561		Veolia Environnement	$	494,019
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		19,652,056
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.09%
45,848		Alcatel S.A.		581,545
5,400		Alps Electric Co Ltd		67,550
45,953		ARM Holdings plc		96,254
313		Bang & Olufsen A/S		34,606
299		Barco NV		27,622
26,000	*	Chartered Semiconductor Manufacturing Ltd		22,196
4,061	*	CSR plc		94,639
6,000		Dainippon Screen Manufacturing Co Ltd		55,006
9,132		Electrolux AB (Series B)		131,843
26,403		EMI Group plc		148,332
501,418		Ericsson (LM) (B Shs)		1,656,671
6,200		Fanuc Ltd		557,547
6,000		Fisher & Paykel Appliances Holdings Ltd		16,877
12,900		Fisher & Paykel Healthcare Corp		33,924
68,000	*	Foxconn International Holdings Ltd		145,333
16,000		Fuji Electric Holdings Co Ltd		83,839
5,262		Gamesa Corp Tecnologica S.A.		112,766
1,340		Germanos S.A.		32,040
1,000		Hirose Electric Co Ltd		121,594
2,000		Hitachi High-Technologies Corp		60,884
114,000		Hitachi Ltd		753,917
14,500		Hoya Corp		516,249
4,200		Ibiden Co Ltd		202,073
24,710	*	Infineon Technologies AG.		275,196
2,104		Intracom S.A.		13,989
42,391		Koninklijke Philips Electronics NV		1,324,185
1,128		Kudelski S.A.		27,210
5,300		Kyocera Corp		410,777
1,000		Mabuchi Motor Co Ltd		59,835
67,000		Matsushita Electric Industrial Co Ltd		1,415,431
11,000		Matsushita Electric Works Ltd		122,302
895		Micronas Semiconductor Holdings, Inc		24,110
9,000		Minebea Co Ltd		49,049
66,000		Mitsubishi Electric Corp		529,432
6,900		Murata Manufacturing Co Ltd		448,471
1,000	*	NEC Electronics Corp		32,104
5,000		NGK Spark Plug Co Ltd		100,599
3,700		Nidec Corp		265,407
5,400		Nitto Denko Corp		384,989
494		NKT Holding A/S		30,866
143,218		Nokia Oyj		2,922,686
7,500		Omron Corp		191,248
4,600		Pioneer Corp		74,282
23,000		Ricoh Co Ltd		451,690
1,300		Rinnai Corp		34,457
3,400		Rohm Co Ltd		304,265
3,000		Sanken Electric Co Ltd		38,210
54,000	*	Sanyo Electric Co Ltd		116,678
1,613		Schindler Holding AG.		83,547
7,641		Schneider Electric S.A.		796,268

321

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
33,000		Sharp Corp	$	521,926
2,200		Shinko Electric Industries		63,894
33,900		Sony Corp		1,497,572
4,700		Stanley Electric Co Ltd		97,030
39,000	*	STATS ChipPAC Ltd		24,539
22,386		STMicroelectronics NV		360,374
1,400		Sumco Corp		79,850
3,000		Taiyo Yuden Co Ltd		38,131
3,618		Tandberg ASA		29,944
4,200		TDK Corp		319,643
40,475		Terna S.p.A.		107,906
8,333		Thomson		137,769
2,000		Uniden Corp		22,114
3,400		Ushio, Inc		71,828
2,183		Valeo S.A.		77,710
7,000		Venture Corp Ltd		46,922
6,000		Yaskawa Electric Corp		69,807
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		19,647,549
ENGINEERING AND MANAGEMENT SERVICES - 0.18%
9,795		Amec plc		57,655
21,620		Capita Group plc		184,541
8,352		Downer EDI Ltd		46,166
1,903		Fugro NV		82,050
6,000		JGC Corp		103,346
800		Meitec Corp		26,103
4,204		SBM Offshore NV		112,024
14,692		Serco Group plc		86,955
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		698,840
FABRICATED METAL PRODUCTS - 0.32%
30,435		Amcor Ltd		151,046
124		Geberit AG.		143,131
9,000		JS Group Corp		189,345
19,048		Rexam plc		186,016
4,000		Sanwa Shutter Corp		23,584
663		Ssab Svenskt Stal AB		12,517
6,618		Ssab Svenskt Stal AB		131,837
5,200		Toyo Seikan Kaisha Ltd		94,388
249		Vallourec S.A.		299,281
		TOTAL FABRICATED METAL PRODUCTS		1,231,145
FOOD AND KINDRED PRODUCTS - 3.38%
20,000		Ajinomoto Co, Inc		221,668
12,500		Asahi Breweries Ltd		175,721
70,673		Cadbury Schweppes plc		681,670
239		Carlsberg A/S (Class A)		16,387
684		Carlsberg A/S (Class B)		50,007
3,300		Coca Cola Hellenic Bottling Co S.A.		98,315
16,704		Coca-Cola Amatil Ltd		87,989
2,000		Coca-Cola West Japan Co Ltd		42,427
28,946		CSR Ltd		72,043
1,584		Danisco A/S		115,397
96,359		Diageo plc		1,620,918

322

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
799		East Asiatic Co Ltd A/S	$	30,166
2,127		Ebro Puleva S.A.		43,651
210		Givaudan S.A.		165,000
3,782		Greencore Group plc		17,796
7,981		Groupe Danone		1,013,857
8,088		Heineken NV		342,828
2,000		House Foods Corp		30,267
3,307		Iaws Group plc		58,353
6,019		InBev NV		295,149
1,800		Ito En Ltd		65,976
48,982		J Sainsbury plc		303,039
10,000		Kaneka Corp		90,977
3,800		Katokichi Co Ltd		38,228
4,125		Kerry Group plc (Class A)		88,610
5,000		Kikkoman Corp		62,372
26,000		Kirin Brewery Co Ltd		409,168
9,823		Lion Nathan Ltd		56,924
8,000		Meiji Dairies Corp		55,916
10,000		Meiji Seika Kaisha Ltd		50,999
13,661		Nestle S.A.		4,282,305
10,000		Nichirei Corp		53,536
5,000		Nippon Meat Packers, Inc		57,998
7,000		Nisshin Seifun Group, Inc		78,074
2,700		Nissin Food Products Co Ltd		95,421
14,000		Olam International Ltd		12,749
3,592	v*	Parmalat Finanziaria S.p.A.		0
2,452		Pernod-Ricard S.A.		485,964
3,500		Q.P. Corp		33,281
5,778		Royal Numico NV		259,246
13,937		Sampo Oyj (A Shs)		265,882
10,000		Sapporo Holdings Ltd		50,650
26,795		Scottish & Newcastle plc		252,625
1,853		Singapore Food Industries Ltd		1,084
1,000		Snow Brand Milk Products Co Ltd		3,569
1,798		Suedzucker AG.		39,865
30,500		Swire Pacific Ltd (A Shs)		314,739
4,000		Takara Holdings, Inc		23,409
15,278		Tate & Lyle plc		171,099
2,000		Toyo Suisan Kaisha Ltd		31,352
8,000		Want Want Holdings Ltd		10,800
3,400		Yakult Honsha Co Ltd		92,499
5,000		Yamazaki Baking Co Ltd		44,832
		TOTAL FOOD AND KINDRED PRODUCTS		13,062,797
FOOD STORES - 1.48%
20,254		Carrefour S.A.		1,187,154
39,960		Coles Myer Ltd		337,259
493		Colruyt S.A.		76,969
2,560		Delhaize Group		177,415
2,300		FamilyMart Co Ltd		66,395
34,648	*	Goodman Fielder Ltd		55,087
2,653		Jeronimo Martins SGPS S.A.		45,287
1,772		Kesko Oyj (B Shares)		67,928
52,644	*	Koninklijke Ahold NV		457,057

323

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
1,900		Lawson, Inc	$	69,308
27,200		Seven & I Holdings Co Ltd		897,030
32,832		Sonae SPGS S.A.		49,117
266,027		Tesco plc		1,643,381
39,244		Woolworths Ltd		587,500
		TOTAL FOOD STORES		5,716,887
FURNITURE AND FIXTURES - 0.04%
22,301		MFI Furniture plc		44,547
981		Neopost S.A.		111,763
		TOTAL FURNITURE AND FIXTURES		156,310
FURNITURE AND HOMEFURNISHINGS STORES - 0.19%
61,408		DSG International plc		216,932
13,811		Harvey Norman Holdings Ltd		40,428
16,839		Kesa Electricals plc		90,008
1,100		Nitori Co Ltd		53,598
1,300		Shimachu Co Ltd		34,003
8,756	*	Waterford Wedgwood plc		504
2,800		Yamada Denki Co Ltd		285,842
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		721,315
GENERAL BUILDING CONTRACTORS - 0.88%
14,170		Balfour Beatty plc		90,025
7,553		Barratt Developments plc		132,432
3,705		Bellway plc		79,490
3,277	*	Berkeley Group Holdings plc		73,520
1,142		Bilfinger Berger AG.		62,074
18,000		Cheung Kong Infrastructure Holdings Ltd		52,028
12,789		CRH plc		416,829
2,700		Daito Trust Construction Co Ltd		149,744
17,000		Daiwa House Industry Co Ltd		272,143
13,341		Fletcher Building Ltd		74,481
13,257		George Wimpey plc		111,502
23,500	*	Haseko Corp		79,968
3,388		Hellenic Technodomiki Tev S.A.		32,577
1,855		Hochtief AG.		103,154
927		Imerys S.A.		74,082
29,000		Kajima Corp		133,185
8,000		Keppel Land Ltd		20,438
4,374		Leighton Holdings Ltd		56,382
12,045		Lend Lease Corp Ltd		125,194
22,000		Obayashi Corp		151,459
9,310		Persimmon plc		212,486
14,000		Sekisui Chemical Co Ltd		120,999
17,000		Sekisui House Ltd		233,626
19,000		Shimizu Corp		106,539
29,000		Taisei Corp		106,040
19,392		Taylor Woodrow plc		119,794
2,069		Technical Olympic S.A.		9,312
1,760		Titan Cement Co S.A.		82,546
6,000		Toda Corp		29,025
3,512		YIT OYJ		86,085
		TOTAL GENERAL BUILDING CONTRACTORS		3,397,159

324

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
GENERAL MERCHANDISE STORES - 0.65%
21,100		Aeon Co Ltd	$	463,290
200	*	Daiei, Inc		4,208
7,000		Daimaru, Inc		92,831
4,000		Hankyu Department Stores, Inc		31,072
5,800		Isetan Co Ltd		98,937
17,000		Keio Electric Railway Co Ltd		110,196
54,000		Kintetsu Corp		180,449
56,075		Marks & Spencer Group plc		608,798
11,500		Marui Co Ltd		179,268
13,000		Mitsukoshi Ltd		59,476
2,248		Pinault-Printemps-Redoute S.A.		286,578
9,000		Takashimaya Co Ltd		113,056
35,000		Tokyu Corp		204,523
6,000		UNY Co Ltd		88,545
1,000		Warehouse Group Ltd		3,026
		TOTAL GENERAL MERCHANDISE STORES		2,524,253
HEALTH SERVICES - 0.20%
3,381	*	Capio AB		60,547
818		Coloplast A/S (B Shs)		60,715
10,174		DCA Group Ltd		21,089
29,000		Fraser and Neave Ltd		73,355
1,986		Fresenius Medical Care AG.		228,241
5,090		Getinge AB (B Shs)		86,559
4,441		Intertek Group plc		57,497
31,000		Parkway Holdings Ltd		48,421
7,834		Sonic Healthcare Ltd		82,648
221		Straumann Holding AG.		56,242
		TOTAL HEALTH SERVICES		775,314
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.61%
7,121		Abertis Infraestructuras S.A.		166,717
8,018		ACS Actividades Cons y Servicios S.A.		334,325
6,634		Bouygues S.A.		340,999
4,000		Chiyoda Corp		81,879
1,280		Fomento de Construcciones y Contratas S.A.		97,300
1,950		Grupo Ferrovial S.A.		148,854
22,471		Multiplex Group		54,592
11,000		Nishimatsu Construction Co Ltd		41,088
8,000		Okumura Corp		44,509
11,947		Skanska AB (B Shs)		184,095
24,893		Transurban Group		128,535
7,169		Vinci S.A.		738,373
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		2,361,266
HOLDING AND OTHER INVESTMENT OFFICES - 3.07%
18,690		3i Group plc		311,631
24,689		Amvescap plc		226,149
7,433	*	Blackrock International Land plc		3,517
2,000		CapitaCommercial Trust		2,099
18,700		CapitaMall Trust		25,070
1,027	v	CFS Gandel Retail Trust		1,450

325

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
43,132		CFS Gandel Retail Trust	$	59,604
6,619		Collins Stewart Tullett plc		92,918
53,998		Commonwealth Property Office Fund		55,764
2,737		Fabege AB		50,914
63,177		GPT Group		203,708
5047		Great Portland Estates plc		46,673
139	*	Groupe Bruxelles Lambert S.A.		4
2,463		Groupe Bruxelles Lambert S.A.		257,929
8,779	*	Immoeast Immobilien Anlagen AG.		94,180
32,113		ING Industrial Fund		53,204
93,800		iShares MSCI EAFE Index Fund		6,133,582
1,200		Jafco Co Ltd		72,012
13		Japan Prime Realty Investment Corp		39,120
11		Japan Real Estate Investment Corp		98,150
10		Japan Retail Fund Investment Corp		78,730
18,900		JFE Holdings, Inc		801,863
35,400		Kiwi Income Property Trust		29,591
1,600	*	K-REIT Asia		1,285
15,842		Land Securities Group plc		525,652
68,500		Link Real Estate Investment Trust		137,141
8,287		Macquarie Communications Infrastructure Group		36,387
81,404		Macquarie Infrastructure Group		203,210
75,072		Macquarie Office Trust		76,969
9,884		Man Group plc		465,799
4,980	*	Meinl European Land Ltd		101,437
15		Nippon Building Fund, Inc		145,650
511		Nobel Biocare Holding AG.		121,076
20,000		Noble Group Ltd		13,786
9		Nomura Real Estate Office Fund, Inc		71,329
6		NTT Urban Development Corp		46,818
1,486		PSP Swiss Property AG.		76,665
1,739		Rodamco Europe NV		170,437
3,481		Sacyr Vallehermoso S.A.		116,304
23,367		SCOR		51,092
25,300		Softbank Corp		567,681
22,000		Suntec Real Estate Investment Trust		17,251
43,000		Wharf Holdings Ltd		152,800
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		11,836,631
HOTELS AND OTHER LODGING PLACES - 0.21%
6,635		Accor S.A.		403,746
12,622		Intercontinental Hotels Group plc		220,727
2,044		NH Hoteles S.A.		36,642
41,153		Shangri-La Asia Ltd		79,212
13,657		Sky City Entertainment Group Ltd		44,997
12,000		United Overseas Land Ltd		21,703
		TOTAL HOTELS AND OTHER LODGING PLACES		807,027
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.33%
66,756		ABB Ltd		866,466
3,028		Alfa Laval AB		90,586
3,710	*	Alstom RGPT		338,944
12,000		Amada Co Ltd		125,968
2,500		Amano Corp		37,178

326

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
282		Andritz AG.	$	46,601
1,800		ARRK Corp		42,593
6,500		ASM Pacific Technology Ltd		31,676
16,407	*	ASML Holding NV		332,304
11,249		Atlas Copco AB (A Shares)		312,323
6,970		Atlas Copco AB (B Shares)		180,940
36,300		Canon, Inc		1,781,420
7,100		Casio Computer Co Ltd		135,708
5,388	*	Charter plc		80,371
11,800		Citizen Watch Co Ltd		107,043
3,000		Daifuku Co Ltd		49,547
7,700		Daikin Industries Ltd		267,410
12,000		Ebara Corp		51,227
300		Fuji Machine Manufacturing Co Ltd		7,269
16,500		Fuji Photo Film Co Ltd		554,258
2,000		Glory Ltd		38,490
1,942		Heidelberger Druckmaschinen		88,276
600		Hikari Tsushin, Inc		32,437
3,200		Hitachi Construction Machinery Co Ltd		77,120
9,132	*	Husqvarna AB		109,975
10,661		IMI plc		98,442
36,000		Ishikawajima-Harima Heavy Industries Co Ltd		114,001
700		Itochu Techno-Science Corp		32,270
20,000		Japan Steel Works Ltd		137,165
31,000		Komatsu Ltd		616,936
2,000		Komori Corp		42,602
16,000		Konica Minolta Holdings, Inc		202,248
37,000		Kubota Corp		351,179
3,300		Kurita Water Industries Ltd		67,839
2,892	*	Logitech International S.A.		111,431
3,400		Makita Corp		107,667
14,839		Meggitt plc		87,620
4,144		Metso Oyj		150,325
105,000		Mitsubishi Heavy Industries Ltd		453,746
22,000		Mitsui Engineering & Shipbuilding Co Ltd		67,358
2,500		Mitsumi Electric Co Ltd		29,611
400		Mori Seiki Co Ltd		8,660
8,000		Nippon Electric Glass Co Ltd		160,609
14,000		NTN Corp		110,834
2,486		OCE NV		36,492
5,899	*	Ocean RIG ASA		41,427
17,000		Oki Electric Industry Co Ltd		40,152
5,000		Okuma Holdings, Inc		56,511
3,000		OSG Corp		50,571
1148		Rheinmetall AG.		80,015
2,559,050		Rolls-Royce Group plc		4,828
5,358		Safran S.A.		116,604
33,822		Sandvik AB		393,227
3,418		Scania AB		155,160
5,400		Seiko Epson Corp		147,382
199		SIG Holding AG.		43,699
13,559		SKF AB		213,640
1,900		SMC Corp		269,090
1,184		Solarworld AG.		74,288

327

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
117		Sulzer AG.	$	87,487
20,000		Sumitomo Heavy Industries Ltd		185,103
3,013		Technip S.A.		166,816
34,500		Techtronic Industries Co		46,640
4,300		THK Co Ltd		128,268
5,500		Tokyo Electron Ltd		384,901
2,000		Tokyo Seimitsu Co Ltd		103,923
5,651		Tomra Systems ASA		45,861
96,000		Toshiba Corp		627,319
7,000		Toyota Tsusho Corp		168,088
189	*	Unaxis Holding AG.		52,457
6,257	*	Vestas Wind Systems A/S		171,072
2,055		Wartsila Oyj (Series B)		86,712
488		Wincor Nixdorf AG.		62,367
6,600		Yokogawa Electric Corp		94,166
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		12,870,939
INSTRUMENTS AND RELATED PRODUCTS - 0.89%
2,500		Advantest Corp		254,997
108,721		BAE Systems plc		743,512
2,005		Cochlear Ltd		81,378
2,293		Elekta AB		38,835
10,221		Finmeccanica S.p.A.		226,900
64,789	*	Invensys plc		4,853
251,154	*	Invensys plc		89,420
1,300		Keyence Corp		332,292
4,063		Luxottica Group S.p.A.		110,345
10,000		Nikon Corp		174,780
233		Nobel Biocare Holding AG.		55,246
8,000		Olympus Corp		214,145
106,000		PCCW Ltd		75,744
1,782	*	Petrojarl ASA		11,741
1,361		Phonak Holding AG.		84,938
4,010	*	Qiagen NV		54,094
29,530		Smith & Nephew plc		227,481
1,013		Swatch Group AG.		170,763
2,290		Swatch Group AG.		79,823
1,447		Synthes, Inc		174,231
5,400		Terumo Corp		180,449
800	*	William Demant Holding		59,790
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		3,445,757
INSURANCE AGENTS, BROKERS AND SERVICE - 0.79%
129,651		HBOS plc		2,254,083
1,635		MLP AG.		33,679
26,763		QBE Insurance Group Ltd		407,613
19,229		Suncorp-Metway Ltd		276,438
28,701		Unipol S.p.A.		83,489
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		3,055,302
INSURANCE CARRIERS - 5.61%
10,251		ABC Learning Centres Ltd		48,742
48,842		Aegon NV		834,981
14,645		Alleanza Assicurazioni S.p.A		165,911

328

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
13,679		Allianz AG.	$	2,160,445
63,004		AMP Ltd		427,364
32,395		Assicurazioni Generali S.p.A.		1,179,695
81,137		Aviva plc		1,148,763
27,784		AXA Asia Pacific Holdings Ltd		129,426
49,200	*	AXA S.A.		41,520
55,200		AXA S.A.		1,811,120
1,340		CNP Assurances		127,391
386		Codan A/S		27,889
3,892		Corp Mapfre S.A.		71,811
40,254		Credit Suisse Group		2,247,652
2,341		Fondiaria-Sai S.p.A		95,666
60,714		Friends Provident plc		200,725
63,505		ING Groep NV		2,495,296
54,677		Insurance Australia Group Ltd		217,329
8,707		Irish Life & Permanent plc		207,078
6,171		KBC Groep NV		662,017
7,564		Mediolanum S.p.A.		53,098
51		Millea Holdings, Inc		950,269
42,000		Mitsui Sumitomo Insurance Co Ltd		527,962
6,559		Muenchener Rueckver AG.		895,780
176,332		Old Mutual plc		532,415
81,332		Prudential plc		919,113
5,848		Resolution plc		72,468
96,511		Royal & Sun Alliance Insurance Group plc		240,085
28,000		Sompo Japan Insurance, Inc		391,900
7,192		Storebrand ASA		74,259
11,481		Swiss Reinsurance Co		800,858
7,950		T&D Holdings, Inc		643,288
654	*	Topdanmark A/S		91,142
782		TrygVesta AS		48,793
907		Wiener Staedtische Allgemeine Versicherung AG.		53,348
4,890		Zurich Financial Services AG.		1,069,812
		TOTAL INSURANCE CARRIERS		21,665,411
LEATHER AND LEATHER PRODUCTS - 0.35%
6,681		Adidas-Salomon AG.		319,325
2,034		Hermes International		179,843
8,240		LVMH Moet Hennessy Louis Vuitton S.A.		817,599
15,000		Yue Yuen Industrial Holdings		41,232
		TOTAL LEATHER AND LEATHER PRODUCTS		1,357,999
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.11%
10,051		Brisa-Auto Estradas de Portugal S.A.		104,870
49,000		ComfortDelgro Corp Ltd		47,409
13,000		Keihin Electric Express Railway Co Ltd		92,114
9,000		Keisei Electric Railway Co Ltd		50,859
8,000		SMRT Corp Ltd		5,666
24,000		Tobu Railway Co Ltd		114,631
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		415,549
LUMBER AND WOOD PRODUCTS - 0.02%
1,561		Nobia AB		50,708
3,374	*	Sonae Industria SGPS S.A.		29,034

329

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
332	*	Tenon Ltd	$	689
		TOTAL LUMBER AND WOOD PRODUCTS		80,431
METAL MINING - 0.87%
39,274		Alumina Ltd		196,956
9,145		Boliden AB		168,213
8,081		Iluka Resources Ltd		39,325
11,159		Newcrest Mining Ltd		174,765
13,866	*	Paladin Resources Ltd		42,340
9,616		Rio Tinto Ltd		555,819
35,873		Rio Tinto plc		1,896,915
400		Sumitomo Titanium Corp		63,404
717		Umicore		95,713
14,969		Zinifex Ltd		111,435
		TOTAL METAL MINING		3,344,885
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.85%
1,300		Aderans Co Ltd		35,140
2,890		Amer Sports Oyj		60,344
48,003		Anglo American plc		1,969,228
4,238		Bulgari S.p.A.		48,066
22,965		Futuris Corp Ltd		35,830
6,900		Namco Bandai Holdings, Inc		104,965
3,400		Nintendo Co Ltd		571,054
5,600		Sankyo Co Ltd		356,139
5,500		Yamaha Corp		103,442
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		3,284,208
MISCELLANEOUS RETAIL - 0.83%
1,000		Circle K Sunkus Co Ltd		21,651
17,637		Compagnie Financiere Richemont AG. (Units) (A Shs)		806,263
2,288		DCC plc		55,000
985		Douglas Holding AG.		45,492
2,500		EDION Corp		49,644
135		Exmar NV		4,315
1,116		Folli-Follie S.A.		26,085
29,639		GUS plc		529,550
11,492		HMV Group plc		36,559
73,000		Hutchison Whampoa Ltd		666,371
30		Index Corp		29,655
1,988	*	KarstadtQuelle AG.		52,746
900		Matsumotokiyoshi Co Ltd		22,910
7,871		Next plc		237,583
27,100		Nippon Mining Holdings, Inc		228,293
25,142		Origin Energy Ltd		137,479
13,116		Pacific Brands Ltd		20,951
800		Ryohin Keikaku Co Ltd		65,643
2,023		Sanoma-WSOY Oyj		48,682
58,802		Signet Group plc		104,407
		TOTAL MISCELLANEOUS RETAIL		3,189,279
MOTION PICTURES - 0.03%
1,762	*	Premiere AG.		17,078
4,500		Toho Co Ltd		89,949
		TOTAL MOTION PICTURES		107,027

330

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
NONDEPOSITORY INSTITUTIONS - 0.49%
2,460		Acom Co Ltd	$	133,636
2,400		Aeon Credit Service Co Ltd		58,365
2,500		Aiful Corp		133,622
1,916		Australian Wealth Management Ltd		3,473
11,154		Cattles plc		67,924
10,600		Challenger Financial Services Group Ltd		24,886
5,200		Credit Saison Co Ltd		246,547
1,961		D Carnegie AB		35,934
1,841		Deutsche Postbank AG.		132,436
1,300		Hitachi Capital Corp		22,744
4,206		Hypo Real Estate Holding AG.		255,401
15,511		ICAP plc		142,868
1,263		Perpetual Trustees Australia Ltd		68,640
2,800		Promise Co Ltd		162,393
8,708		Provident Financial plc		99,051
200		SFCG Co Ltd		45,488
4081		SFE Corp Ltd		50,028
3,580		Takefuji Corp		213,582
		TOTAL NONDEPOSITORY INSTITUTIONS		1,897,018
NONMETALLIC MINERALS, EXCEPT FUELS - 0.18%
51,000		Itochu Corp		448,366
2,144		Solvay S.A.		246,591
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		694,957
OIL AND GAS EXTRACTION - 2.14%
901		Aker Kvaerner ASA		84,560
118,602		BG Group plc		1,584,879
26,572	*	DET Norske Oljeselskap		53,378
27	*	Inpex Holdings, Inc		238,551
5,196	*	Lundin Petroleum AB		62,935
4,100		Neste Oil Oyj		144,377
1,782	*	Petroleum Geo-Services ASA		100,518
992		ProSafe ASA		60,579
19,898		Santos Ltd		178,877
6,533	*	SeaDrill Ltd		86,090
3000		Singapore Petroleum Co Ltd		9,580
5,982	*	Stolt Offshore S.A.		91,086
3,440	*	TGS Nopec Geophysical Co ASA		60,811
74,720		Total S.A.		4,915,569
15,561		Woodside Petroleum Ltd		508,686
4,697		WorleyParsons Ltd		70,142
		TOTAL OIL AND GAS EXTRACTION		8,250,618
PAPER AND ALLIED PRODUCTS - 0.39%
1,426		Billerud AB		18,905
1,755		Holmen AB (B Shs)		70,897
2,000		Kokuyo Co Ltd		33,486
116		Mayr-Melnhof Karton AG.		18,675
1,000		Mitsubishi Paper Mills Ltd		1,959
31		Nippon Paper Group, Inc		126,912

331

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES	COMPANY		VALUE
5,581	Norske Skogindustrier ASA	$	81,841
25,000	OJI Paper Co Ltd		142,370
11,716	PaperlinX Ltd		27,158
400	Sanrio Co Ltd		5,571
20,311	Stora Enso Oyj (R Shs)		283,600
6,224	Svenska Cellulosa AB (B Shs)		257,049
1,400	Uni-Charm Corp		77,400
17,637	UPM-Kymmene Oyj		379,994
	TOTAL PAPER AND ALLIED PRODUCTS		1,525,817
PERSONAL SERVICES - 0.01%
6,491	Davis Service Group plc		56,636
	TOTAL PERSONAL SERVICES		56,636
PETROLEUM AND COAL PRODUCTS - 5.33%
204,586	BP plc		2,385,762
82,103	BP plc (ADR)		5,715,190
87,898	ENI S.p.A.		2,588,359
2,805	Hellenic Petroleum S.A.		37,301
1,380	Motor Oil Hellas Corinth Refineries S.A.		36,773
5,547	OMV AG.		330,164
15,080	Premier Farnell plc		49,437
30,843	Repsol YPF S.A.		883,003
127,692	Royal Dutch Shell plc (A Shares)		4,298,344
98,605	Royal Dutch Shell plc (B Shares)		3,448,709
6,200	Showa Shell Sekiyu KK		72,839
22,093	Statoil ASA		626,654
9,000	TonenGeneral Sekiyu KK		92,586
	TOTAL PETROLEUM AND COAL PRODUCTS		20,565,121
PRIMARY METAL INDUSTRIES - 2.06%
6150	Acerinox S.A.		106,632
150	Aluminum of Greece S.A.I.C.		3,157
17,865	Arcelor		862,098
416	Bekaert S.A.		39,947
83,341	BHP Billiton plc		1,616,964
24,237	BlueScope Steel Ltd		143,155
1,496	Boehler-Uddeholm AG.		81,775
28,716	Corus Group plc		242,455
403	Cumerio		8,070
12,000	Daido Steel Co Ltd		94,266
8,000	Dowa Mining Co Ltd		70,822
11,000	Fujikura Ltd		121,533
21,000	Furukawa Electric Co Ltd		135,940
9,000	Hitachi Cable Ltd		41,727
672	Hoganas AB (B Shares)		16,699
7,001	Johnson Matthey plc		171,829
92,000	Kobe Steel Ltd		288,116
29,000	Mitsubishi Materials Corp		123,798
19,000	Mitsui Mining & Smelting Co Ltd		112,190
16,000	Nippon Light Metal Co Ltd		43,809
208,000	Nippon Steel Corp		787,858
28,000	Nisshin Steel Co Ltd		90,137
23,966	Norsk Hydro ASA		635,488

332

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES	COMPANY		VALUE
17,890	OneSteel Ltd	$	54,096
3,252	Outokumpu Oyj		76,094
1,287	Salzgitter AG.		109,220
23,900	Sumitomo Electric Industries Ltd		350,404
138,000	Sumitomo Metal Industries Ltd		569,794
19,000	Sumitomo Metal Mining Co Ltd		247,981
11,792	ThyssenKrupp AG.		403,634
1,000	Toho Titanium Co Ltd		54,061
3,700	Tokyo Steel Manufacturing Co Ltd		81,079
5,647	Viohalco S.A.		51,699
726	Voestalpine AG.		110,282
	TOTAL PRIMARY METAL INDUSTRIES		7,946,809
PRINTING AND PUBLISHING - 0.84%
7,809	APN News & Media Ltd		29,473
5,391	Arnoldo Mondadori Editore S.p.A.		51,975
21,000	Dai Nippon Printing Co Ltd		325,154
10,362	Daily Mail & General Trust		117,673
4,938	De La Rue plc		49,912
8,075	Emap plc		127,173
5,759	Eniro AB		60,560
15,989	Independent News & Media plc		46,818
32,438	John Fairfax Holdings Ltd		90,374
4,186	PagesJaunes Groupe S.A.		131,402
27,117	Pearson plc		369,386
23,650	Reed Elsevier NV		355,623
43,244	Reed Elsevier plc		436,701
2,026	Schibsted ASA		54,047
50,000	Singapore Press Holdings Ltd		130,268
18,000	Toppan Printing Co Ltd		203,753
9,293	Trinity Mirror plc		83,877
8,377	United Business Media plc		100,322
9,535	Wolters Kluwer NV		225,185
25,343	Yell Group plc		239,756
	TOTAL PRINTING AND PUBLISHING		3,229,432
RAILROAD TRANSPORTATION - 0.48%
54	Central Japan Railway Co		538,512
113	East Japan Railway Co		840,222
12,294	Firstgroup plc		106,643
20,000	Odakyu Electric Railway Co Ltd		129,117
58	West Japan Railway Co		241,001
	TOTAL RAILROAD TRANSPORTATION		1,855,495
REAL ESTATE - 2.20%
3,000	Allgreen Properties Ltd		2,390
23,275	Ascendas Real Estate Investment Trust		28,259
3,638	Bovis Homes Group plc		54,031
16,982	British Land Co plc		396,696
7,858	Brixton plc		69,653
38,000	CapitaLand Ltd		108,135
4,732	Castellum AB		48,447
25,786	Centro Properties Group		128,165
52,000	Cheung Kong Holdings Ltd		563,384

333

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
14,400		City Developments Ltd	$	85,142
136		Cofinimmo		23,511
1,317		Corio NV		81,892
83,895		DB RREEF Trust		91,313
1,569		Fadesa Inmobiliaria S.A.		53,806
393		Gecina S.A.		51,457
9,551		Hammerson plc		209,154
57,000		Hang Lung Properties Ltd		102,008
26,000		Henderson Land Development Co Ltd		135,071
20,000		Hopewell Holdings		56,392
24,179		Hysan Development Co Ltd		68,176
14,629	*	IMMOFINANZ Immobilien Anlagen AG.		162,363
1,007		Inmobiliaria Colonial S.A.		79,960
53,403		Investa Property Group		86,890
2,782		IVG Immobilien AG.		84,021
14,000		Kerry Properties Ltd		47,676
705		Klepierre		81,626
4,164		Kungsleden AB		48,846
4,300		Leopalace21 Corp		148,581
8,604		Liberty International plc		169,479
44,435		Macquarie Goodman Group		198,078
1,778		Metrovacesa S.A.		160,505
27,703		Mirvac Group		89,531
38,000		Mitsubishi Estate Co Ltd		807,768
28,000		Mitsui Fudosan Co Ltd		608,669
85,511		New World Development Ltd		140,922
2,870		ORIX Corp		701,715
30,000		Shun TAK Holdings Ltd		39,204
4,000		Singapore Land Ltd		15,936
44,972		Sino Land Co		71,798
14,230		Slough Estates plc		160,941
1,169	v	Stockland		5,993
43,709		Stockland Trust Group		227,965
12,000		Sumitomo Realty & Development Co Ltd		296,024
46,000		Sun Hung Kai Properties Ltd		469,061
10,000		Tokyo Tatemono Co Ltd		107,248
14,000		Tokyu Land Corp		109,120
1,515		Unibail		264,034
714		Wereldhave NV		69,430
50,978		Westfield Group		656,358
550		Wihlborgs Fastigheter AB		9,468
15,500		Wing Tai Holdings Ltd		13,918
		TOTAL REAL ESTATE		8,490,210
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.38%
3,710		Ansell Ltd		26,654
22,000		Bridgestone Corp		424,354
4,323		Continental AG.		441,766
15,000		Denki Kagaku Kogyo KK		62,459
4,877		Michelin (C.G.D.E.) (Class B)		293,091
2,965		Nokian Renkaat Oyj		38,973
88,163		Pirelli & C S.p.A.		76,712
6,000		Sumitomo Bakelite Co Ltd		56,371
1,652		Uponor Oyj		44,676
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,465,056

334

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 1.25%
3,415		Australian Stock Exchange Ltd	$	82,661
4,647		Babcock & Brown Ltd		74,884
43,000		Daiwa Securities Group, Inc		513,074
3,459		Deutsche Boerse AG.		471,033
50		E*Trade Securities Co Ltd		66,920
2,939		Euronext NV		275,458
1,120		Hellenic Exchanges S.A.		18,016
34,000		Hong Kong Exchanges and Clearing Ltd		218,656
222,186		Legal & General Group plc		527,036
6,806		London Stock Exchange Group plc		143,252
8,212		Macquarie Bank Ltd		420,976
4,900		Matsui Securities Co Ltd		46,422
10,000		Mitsubishi Securities Co		129,117
27,500		Nikko Cordial Corp		352,185
59,800		Nomura Holdings, Inc		1,122,084
1,997		OMX AB		35,762
257		SBI Holdings, Inc		113,533
4,135		Schroders plc		77,244
16,000		Shinko Securities Co Ltd		67,743
24,000		Singapore Exchange Ltd		53,423
7,822	*	Tower Ltd		16,418
		TOTAL SECURITY AND COMMODITY BROKERS		4,825,897
SOCIAL SERVICES - 0.03%
5,669		Vedior NV		119,023
		TOTAL SOCIAL SERVICES		119,023
SPECIAL TRADE CONTRACTORS - 0.06%
5,000		COMSYS Holdings Corp		61,759
2,544		KCI Konecranes Oyj		45,801
4,000		Kinden Corp		34,326
2,388		Kone Oyj		99,236
		TOTAL SPECIAL TRADE CONTRACTORS		241,122
STONE, CLAY, AND GLASS PRODUCTS - 1.06%
33,000		Asahi Glass Co Ltd		418,869
6,000		Central Glass Co Ltd		35,743
5,139		Cimpor Cimentos de Portugal S.A.		34,235
10,505		Compagnie de Saint-Gobain		750,861
5,894		Cookson Group plc		57,259
5,256		CRH plc		170,837
1,329		FLSmidth & Co A/S (B Shs)		50,119
24,253		Hanson plc		294,487
6,840		Holcim Ltd		523,190
1,936		Italcementi S.p.A.		48,965
14,416		James Hardie Industries NV		82,470
5,044		Lafarge S.A.		633,019
9,000		NGK Insulators Ltd		105,341
12,000		Nippon Sheet Glass Co Ltd		66,763
519	*	RHI AG.		16,790
30,850		Rinker Group Ltd		375,659

335

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
15,000		Sumitomo Osaka Cement Co Ltd	$	46,188
27,000		Taiheiyo Cement Corp		99,672
9,000		Toto Ltd		86,130
29,000		UBE Industries Ltd		83,970
2,313		Wienerberger AG.		109,872
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		4,090,439
TEXTILE MILL PRODUCTS - 0.00%
8,000		Texwinca Holdings Ltd		5,356
		TOTAL TEXTILE MILL PRODUCTS		5,356
TOBACCO PRODUCTS - 0.83%
8,778		Altadis S.A.		414,839
53,067		British American Tobacco plc		1,336,804
23,721		Imperial Tobacco Group plc		732,243
153		Japan Tobacco, Inc		558,116
10,335		Swedish Match AB		166,429
		TOTAL TOBACCO PRODUCTS		3,208,431
TRANSPORTATION BY AIR - 0.57%
3,837		Air France-KLM		90,176
20,000		All Nippon Airways Co Ltd		76,980
33,136		Auckland International Airport Ltd		43,873
34,694		BAA plc		598,690
16,612		BBA Group plc		81,190
19,042	*	British Airways plc		120,714
31,000		Cathay Pacific Airways Ltd		54,281
6,952		Deutsche Lufthansa AG.		128,004
233		Flughafen Wien AG.		17,792
13,006		Iberia Lineas Aereas de Espana		33,593
23,000	*	Japan Airlines Corp		57,744
1	v*	KLM (Royal Dutch Airlines) NV		14
19,952		Macquarie Airports		45,508
30,634		Qantas Airways Ltd		67,368
1,080	*	Ryanair Holdings plc (ADR)		56,938
30,296		SABMiller plc		546,051
1,899	*	SAS AB		19,969
20,000		Singapore Airlines Ltd		160,622
		TOTAL TRANSPORTATION BY AIR		2,199,507
TRANSPORTATION EQUIPMENT - 4.57%
38,218		Cobham plc		118,046
38,000		Cosco Corp Singapore Ltd		30,278
1,054		DaimlerChrysler AG.		52,025
29,616		DaimlerChrysler AG.		1,462,860
17,900		Denso Corp		585,627
131		D'ieteren S.A.		42,295
10,754		European Aeronautic Defence and Space Co		308,838
18,191	*	Fiat S.p.A.		242,136
24,195		GKN plc		122,167
7,000		Hino Motors Ltd		40,782
52,800		Honda Motor Co Ltd		1,676,630
53,500		Johnson Electric Holdings Ltd		38,918
6,000		JTEKT Corp		115,995

336

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
43,000		Kawasaki Heavy Industries Ltd	$	144,819
17,000		Keppel Corp Ltd		158,030
4,073		Lagardere S.C.A.		300,498
4,438		MAN AG.		321,299
6,000		NHK Spring Co Ltd		69,125
13,000		NSK Ltd		107,921
5,231		Peugeot S.A.		325,401
253		Porsche AG.		244,490
6,273		Renault S.A.		673,761
141		Rieter Holding AG.		54,098
59,693		Rolls-Royce Group plc		457,078
11,000		SembCorp Marine Ltd		20,868
2,100		Shimano, Inc		64,296
28,490		Siemens AG.		2,478,247
43,000		Singapore Technologies Engineering Ltd		78,585
19,116		Smiths Group plc		315,022
2,973		Thales S.A.		116,096
2,000		Tokai Rika Co Ltd		44,089
24,053		Tomkins plc		128,012
1,900		Toyoda Gosei Co Ltd		38,145
6,300		Toyota Industries Corp		249,101
97,900		Toyota Motor Corp		5,129,869
2,364		Trelleborg AB (B Shs)		40,366
8,119		Volkswagen AG.		569,210
10,519		Volvo AB (B Shs)		516,936
5,800		Yamaha Motor Co Ltd		151,704
		TOTAL TRANSPORTATION EQUIPMENT		17,633,663
TRANSPORTATION SERVICES - 0.21%
408		Aker ASA		21,408
6,776		Arriva plc		74,757
569		Attica Holdings S.A.		2,270
600	*	Hopewell Highway Infrastructure Ltd		121
78		Kuoni Reisen Holding		43,680
41,065		MTR Corp		99,133
4,446		National Express Group plc		73,021
240		Ship Finance International Ltd		4,154
25333		Stagecoach Group plc		54,000
1,022		Stolt-Nielsen S.A.		23,979
25,562		Toll Holdings Ltd		266,828
7,279		TUI AG.		144,170
		TOTAL TRANSPORTATION SERVICES		807,521
TRUCKING AND WAREHOUSING - 0.46%
23,908		Deutsche Post AG.		640,746
655		DSV A/S		109,471
8,000		Kamigumi Co Ltd		60,814
3,000		Mitsubishi Logistics Corp		47,028
27,000		Nippon Express Co Ltd		145,965
4,000		Seino Holdings Corp		42,269
13,585		TNT NV		486,025
13,000		Yamato Transport Co Ltd		230,853
		TOTAL TRUCKING AND WAREHOUSING		1,763,171

337

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
WATER TRANSPORTATION - 0.41%
38		AP Moller - Maersk A/S	$	295,727
9,247		Associated British Ports Holdings plc		154,438
1,160		Cargotec Corp		50,801
5,792		Carnival plc		235,998
310		Compagnie Maritime Belge S.A.		9,002
524		D/S Torm A/S		24,971
377		Euronav NV		11,598
1,469		Frontline Ltd		54,887
15,000		Kawasaki Kisen Kaisha Ltd		86,865
1,770		Kuehne & Nagel International AG.		128,596
37,000		Mitsui OSK Lines Ltd		251,813
13,000		Neptune Orient Lines Ltd		14,880
33,000		Nippon Yusen Kabushiki Kaisha		214,775
8,300		Orient Overseas International Ltd		30,082
73		Ship Finance International Ltd		1,232
		TOTAL WATER TRANSPORTATION		1,565,665
WHOLESALE TRADE-DURABLE GOODS - 1.20%
2,786		AGFA-Gevaert NV		67,470
392	*	Aixtron AG.		1,328
10,183		Assa Abloy AB (B Shs)		171,049
800		Autobacs Seven Co Ltd		34,851
18,328		Boral Ltd		110,841
24,090		Brambles Industries plc		191,589
3,680		Buhrmann NV		53,360
11,465		Bunzl plc		130,941
3,000		Canon Sales Co, Inc		61,934
3,055		Cie Generale d'Optique Essilor International S.A.		307,424
1,500		Creative Technology Ltd		8,347
12,289		Electrocomponents plc		52,675
18,395		FKI plc		36,404
15,565	*	Hagemeyer NV		71,847
14,442		Inchcape plc		126,210
3,534		Kingspan Group plc		61,681
20,000		Melco International Development		50,212
52,000		Mitsui & Co Ltd		735,092
14		NET One Systems Co Ltd		26,086
76,700		Nissan Motor Co Ltd		838,691
2,379		Orion Oyj		47,241
2,528		Rautaruukki Oyj		76,350
35,000		Sumitomo Corp		462,013
2,314	*	Tandberg Television ASA		38,396
12,775		Wesfarmers Ltd		335,324
20,089		Wolseley plc		443,266
1,409		Zodiac S.A.		79,217
		TOTAL WHOLESALE TRADE-DURABLE GOODS		4,619,839
WHOLESALE TRADE-NONDURABLE GOODS - 1.38%
9,182		Akzo Nobel NV		494,982
7,578		Alliance Unichem plc		143,242
793		Axfood AB		22,788
5,364		Billabong International Ltd		61,173
10,064		C&C Group plc		87,376

338

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index
SHARES		COMPANY		VALUE
1,409		Casino Guichard Perrachon S.A.	$	107,106
1,370		Celesio AG.		124,497
34,000		Esprit Holdings Ltd		277,533
1,860		Filtrona plc		10,011
69,509		Foster's Group Ltd		282,480
7,433		Fyffes plc		13,116
58,300		Li & Fung Ltd		117,846
47,000		Marubeni Corp		250,798
4,691		Metro AG.		265,838
45,600		Mitsubishi Corp		911,481
40,000		Nippon Oil Corp		292,525
1,728		Oriflame Cosmetics S.A.		57,452
6,434		Orkla ASA		298,301
1,136		Societe BIC S.A.		73,499
2,700		Suzuken Co Ltd		107,230
57,909		Unilever NV		1,312,824
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		5,312,098
		TOTAL COMMON STOCKS		384,529,619
		(Cost $307,552,563)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.23%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.23%
$     900,000		Federal Home Loan Banks (FHLB) 4.95%, 07/03/06		900,000
		TOTAL SHORT-TERM INVESTMENTS		900,000
		(Cost $899,757)
		TOTAL PORTFOLIO- 99.82%		385,429,619
		(Cost $308,452,320)
		OTHER ASSETS & LIABILITIES, NET - 0.18%		708,121
		NET ASSETS - 100.00%	$	386,137,740
	*	Non-income producing
	v	Security valued at fair value.
		ABBREVIATION:
		ADR - American Depositary Receipt
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the Funds use more specific industry categories in following
		their investment limitations on industry concentration.

339

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SOCIAL CHOICE EQUITY FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES		COMPANY		VALUE
COMMON STOCKS - 99.22%
AMUSEMENT AND RECREATION SERVICES - 0.01%
500		International Speedway Corp (Class A)	$	23,185
		TOTAL AMUSEMENT AND RECREATION SERVICES		23,185
APPAREL AND ACCESSORY STORES - 0.79%
2,435		American Eagle Outfitters, Inc		82,887
700	*	AnnTaylor Stores Corp		30,366
964		Bebe Stores, Inc		14,865
3,600	*	Chico's FAS, Inc		97,128
3,700		Foot Locker, Inc		90,613
15,800		Gap, Inc		274,920
6,643	*	Kohl's Corp		392,734
10,436		Limited Brands, Inc		267,057
4,600		Nordstrom, Inc		167,900
2,400		Ross Stores, Inc		67,320
1,050		Stage Stores, Inc		34,650
2,511	*	Urban Outfitters, Inc		43,917
		TOTAL APPAREL AND ACCESSORY STORES		1,564,357
APPAREL AND OTHER TEXTILE PRODUCTS - 0.11%
100	*	Columbia Sportswear Co		4,526
1,100	*	Hartmarx Corp		6,600
1,500		Kellwood Co		43,905
2,076		Liz Claiborne, Inc		76,937
100		Phillips-Van Heusen Corp		3,816
800		Polo Ralph Lauren Corp		43,920
1,500		Russell Corp		27,240
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		206,944
AUTO REPAIR, SERVICES AND PARKING - 0.02%
400		Bandag, Inc		14,636
160		Central Parking Corp		2,560
200		Ryder System, Inc		11,686
		TOTAL AUTO REPAIR, SERVICES AND PARKING		28,882
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.05%
500	*	Autozone, Inc		44,100
1,102	*	Carmax, Inc		39,077
500	*	Copart, Inc		12,280
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		95,457
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.23%
900		Fastenal Co		36,261
41,900		Home Depot, Inc		1,499,601
14,600		Lowe's Cos, Inc		885,782
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		2,421,644

340

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
BUSINESS SERVICES - 6.02%
6,184	*	3Com Corp	$	31,662
7,440	*	Activision, Inc		84,667
425		Administaff, Inc		15,219
10,388	*	Adobe Systems, Inc		315,380
3,132	*	Akamai Technologies, Inc		113,347
1,281	*	Alliance Data Systems Corp		75,348
509	*	aQuantive, Inc		12,893
3,095	*	Ariba, Inc		25,472
4,319	*	Art Technology Group, Inc		12,871
200	*	Aspen Technology, Inc		2,624
1,070	*	Audible, Inc		9,726
4,742	*	Autodesk, Inc		163,409
19,300		Automatic Data Processing, Inc		875,255
8,521	*	BEA Systems, Inc		111,540
4,152	*	BearingPoint, Inc		34,752
700	*	BISYS Group, Inc		9,590
521	*	Blue Coat Systems, Inc		8,784
846	*	Cerner Corp		31,395
1,300	*	Checkfree Corp		64,428
559	*	Ciber, Inc		3,684
1,115	*	Click Commerce, Inc		21,999
24,286	*	CMGI, Inc		29,386
3,077	*	CNET Networks, Inc		24,554
3,269	*	Cogent Communications Group, Inc		30,631
2,751	*	Cogent, Inc		41,458
6,385	*	Compuware Corp		42,779
1,500	*	Convergys Corp		29,250
200	*	CSG Systems International, Inc		4,948
900		Deluxe Corp		15,732
381	*	Digital River, Inc		15,389
700	*	DST Systems, Inc		41,650
100	*	Earthlink, Inc		866
21,706	*	eBay, Inc		635,769
500	*	eFunds Corp		11,025
6,124	*	Electronic Arts, Inc		263,577
4,483	*	Emdeon Corp		55,634
899	*	Equinix, Inc		49,319
4,729	*	Expedia, Inc		70,793
300		Fair Isaac Corp		10,893
400	*	First Advantage Corp		9,304
5,285	*	Fiserv, Inc		239,728
130	*	Gartner, Inc (Class A)		1,846
1,325	*	Getty Images, Inc		84,151
3,275	*	Google, Inc (Class A)		1,373,306
1,385	*	iGate Corp		8,850
4,488		IMS Health, Inc		120,503
2,201	*	Informatica Corp		28,965
11,150	*	Innovative Solutions & Support, Inc		156,769
26,260	*	Internap Network Services Corp		27,573
500	*	Internet Security Systems, Inc		9,425
2,527	*	Intuit, Inc		152,605
1,900	*	Ipass, Inc		10,640

341

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
1,849	*	Iron Mountain, Inc	$	69,116
700		Jack Henry & Associates, Inc		13,762
258	*	Jupitermedia Corp		3,354
606	*	Kanbay International, Inc		8,811
3,679	*	KFX, Inc		56,215
900	*	Kinetic Concepts, Inc		39,735
1,300	*	Lamar Advertising Co		70,018
3,041	*	Lawson Software, Inc		20,375
1,662	*	Lionbridge Technologies		9,191
1,100		Manpower, Inc		71,060
1,100	*	Marchex, Inc		18,073
1,148	*	Mentor Graphics Corp		14,901
148,765		Microsoft Corp		3,466,224
2,009	*	Midway Games, Inc		16,253
1,208		MoneyGram International, Inc		41,012
2,478	*	Monster Worldwide, Inc		105,711
900	*	MPS Group, Inc		13,554
1,078	*	NIC, Inc		7,794
8,720	*	Novell, Inc		57,814
3,680	*	Nuance Communications, Inc		37,021
5,700		Omnicom Group, Inc		507,813
2,759	*	Opsware, Inc		22,734
905	*	Parametric Technology Corp		11,503
1,835	*	Quest Software, Inc		25,763
2,267	*	RealNetworks, Inc		24,257
2,793		Robert Half International, Inc		117,306
1,581	*	RSA Security, Inc		42,987
2,208	*	Salesforce.com, Inc		58,865
5,496	*	Sapient Corp		29,129
810	*	Smith Micro Software, Inc		12,976
533	*	Sohu.com, Inc		13,746
9,422	*	Sonus Networks, Inc		46,639
1,308	*	Spherion Corp		11,929
3,800		Startek, Inc		56,810
70,847	*	Sun Microsystems, Inc		294,015
1,200	*	SYKES Enterprises, Inc		19,392
22,149	*	Symantec Corp		344,195
500	*	TeleTech Holdings, Inc		6,330
5,725	*	TIBCO Software, Inc		40,361
4,133	*	Tiens Biotech Group USA, Inc		17,689
2,900		Total System Services, Inc		55,825
400	*	Travelzoo, Inc		12,136
397	*	Trizetto Group, Inc		5,872
7,400	*	Unisys Corp		46,472
1,695		United Online, Inc		20,340
1,408	*	United Rentals, Inc		45,028
700	*	Universal Compression Holdings, Inc		44,079
2,607	*	VA Software Corp		10,115
999	*	Vasco Data Security International		8,342
5,277	*	VeriSign, Inc		122,268
600	*	WebEx Communications, Inc		21,324
		TOTAL BUSINESS SERVICES		11,857,597

342

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
CHEMICALS AND ALLIED PRODUCTS - 9.63%
29,648		Abbott Laboratories	$	1,292,949
3,308	*	Abraxis BioScience, Inc		78,863
300	*	Adolor Corp		7,503
4,069	*	ADVENTRX Pharmaceuticals, Inc		12,899
11,300		Air Products & Chemicals, Inc		722,296
100	*	Alexion Pharmaceuticals, Inc		3,612
300	*	Alkermes, Inc		5,676
25,424	*	Amgen, Inc		1,658,408
677	*	Arena Pharmaceuticals, Inc		7,840
694	*	Array Biopharma, Inc		5,968
505	*	Atherogenics, Inc		6,590
5,100		Avery Dennison Corp		296,106
7,900		Avon Products, Inc		244,900
3,725	*	Barr Pharmaceuticals, Inc		177,645
2,722	*	Bentley Pharmaceuticals, Inc		29,833
4,400	*	Bioenvision, Inc		23,452
1,300	*	BioMarin Pharmaceuticals, Inc		18,681
38,675		Bristol-Myers Squibb Co		1,000,135
1,600		Cabot Corp		55,232
3,600		Calgon Carbon Corp		21,924
2,026	*	Cell Genesys, Inc		10,171
900	*	Cephalon, Inc		54,090
300	*	Charles River Laboratories International, Inc		11,040
1,600		Clorox Co		97,552
12,800		Colgate-Palmolive Co		766,720
1,255	*	Combinatorx, Inc		11,031
1,700	*	Connetics Corp		19,992
632	*	Cotherix, Inc		5,442
400	*	Cypress Bioscience, Inc		2,456
1,200		Dade Behring Holdings, Inc		49,968
3,780	*	Dendreon Corp		18,295
500		Diagnostic Products Corp		29,085
282	*	Digene Corp		10,925
6,334	*	Durect Corp		24,513
8,800		Ecolab, Inc		357,104
563	*	Encysive Pharmaceuticals, Inc		3,902
2,535	*	Enzon Pharmaceuticals, Inc		19,114
700		Estee Lauder Cos (Class A)		27,069
9,735	*	Forest Laboratories, Inc		376,647
8,391	*	Genentech, Inc		686,384
6,001	*	Genzyme Corp		366,361
500	*	Geron Corp		3,450
9,314	*	Gilead Sciences, Inc		551,016
300		H.B. Fuller Co		13,071
1,201	*	Hospira, Inc		51,571
2,587	*	Human Genome Sciences, Inc		27,681
1,865	*	Huntsman Corp		32,302
300	*	Idexx Laboratories, Inc		22,539
1,131	*	Immucor, Inc		21,749
1,657	*	Inverness Medical Innovations, Inc		46,777
1,000	*	Invitrogen Corp		66,070
7,800	*	King Pharmaceuticals, Inc		132,600
1,137	*	Kos Pharmaceuticals, Inc		42,774
1,500		Lubrizol Corp		59,775

343

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
2,607		Mannatech, Inc	$	32,874
830	*	Medarex, Inc		7,976
2,600		Medicis Pharmaceutical Corp (Class A)		62,400
4,741	*	Medimmune, Inc		128,481
57,242		Merck & Co, Inc		2,085,326
600	*	MGI Pharma, Inc		12,900
4,400	*	Millennium Pharmaceuticals, Inc		43,868
10,525		Mylan Laboratories, Inc		210,500
400	*	Myogen, Inc		11,600
1,200	*	Nabi Biopharmaceuticals		6,888
2,675	*	Nastech Pharmaceutical Co, Inc		42,265
400	*	NBTY, Inc		9,564
2,588	*	Neurocrine Biosciences, Inc		27,433
2,329	*	Noven Pharmaceuticals, Inc		41,689
100	*	NPS Pharmaceuticals, Inc		488
800	*	Nuvelo, Inc		13,320
100	*	OraSure Technologies, Inc		952
1,042	*	Pacific Ethanol, Inc		24,091
1,200	*	Par Pharmaceutical Cos, Inc		22,152
1,500	*	PDL BioPharma, Inc		27,615
2,000	*	Penwest Pharmaceuticals Co		43,660
4,967		Perrigo Co		79,969
1,400	*	Pharmion Corp		23,842
1,000	*	Pozen, Inc		7,040
1,352		PPG Industries, Inc		89,232
15,800		Praxair, Inc		853,200
2,082	*	Prestige Brands Holdings, Inc		20,758
65,769		Procter & Gamble Co		3,656,756
600	*	Progenics Pharmaceuticals, Inc		14,436
1,526	*	Renovis, Inc		23,363
8,200		Rohm & Haas Co		410,984
3,700		RPM International, Inc		66,600
1,305	*	Salix Pharmaceuticals Ltd		16,052
29,173		Schering-Plough Corp		555,162
1,600	*	Sepracor, Inc		91,424
280	*	Serologicals Corp		8,803
2,400		Sigma-Aldrich Corp		174,336
2,013	*	Sirna Therapeutics, Inc		11,474
887	*	SuperGen, Inc		3,220
300	*	Tanox, Inc		4,149
1,208	*	USANA Health Sciences, Inc		45,783
1,400		Valspar Corp		36,974
995	*	VCA Antech, Inc		31,770
1,527	*	Vertex Pharmaceuticals, Inc		56,056
5,000	*	Watson Pharmaceuticals, Inc		116,400
1,903	*	Zymogenetics, Inc		36,100
		TOTAL CHEMICALS AND ALLIED PRODUCTS		18,979,673
COMMUNICATIONS - 4.90%
7,600		Alltel Corp		485,108
6,000	*	American Tower Corp (Class A)		186,720
76,525		AT&T, Inc		2,134,282
36,900		BellSouth Corp		1,335,780
5,254		Cablevision Systems Corp (Class A)		112,698

344

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
9,400		Citadel Broadcasting Corp	$	83,660
800		Citizens Communications Co		10,440
200	*	Cox Radio, Inc (Class A)		2,884
1,400	*	Crown Castle International Corp		48,356
3,205	*	Crown Media Holdings, Inc (Class A)		13,205
924	*	Dobson Communications Corp (Class A)		7,143
2,279	*	Embarq Corp		93,435
1,800		Entercom Communications Corp		47,088
1,036	*	First Avenue Networks, Inc		11,272
400		Global Payments, Inc		19,420
3,000		Gray Television, Inc		17,370
7,181	*	IAC/InterActiveCorp		190,225
8,464	*	Level 3 Communications, Inc		37,580
11,215	*	Liberty Global, Inc		241,123
4,792	*	Liberty Media Holding Corp (Capital)		401,426
15,864	*	Liberty Media Holding Corp (Interactive)		273,813
2,900	*	Lin TV Corp (Class A)		21,895
425	*	NeuStar, Inc		14,344
2,100	*	NII Holdings, Inc (Class B)		118,398
1,238	*	Novatel Wireless, Inc		12,850
1,061	*	Pegasus Wireless Corp		9,485
2,199	*	Radio One, Inc (Class D)		16,273
609	*	SAVVIS, Inc		18,032
516	*	SBA Communications Corp		13,488
3,870	*	Spanish Broadcasting System, Inc (Class A)		19,776
48,011		Sprint Nextel Corp		959,740
350	*	Terremark Worldwide, Inc		1,260
3,839	*	TiVo, Inc		27,449
6,700	*	Univision Communications, Inc (Class A)		224,450
60,831		Verizon Communications, Inc		2,037,230
8,046	*	Viacom, Inc		288,369
100	*	West Corp		4,791
7,420	*	XM Satellite Radio Holdings, Inc		108,703
		TOTAL COMMUNICATIONS		9,649,561
DEPOSITORY INSTITUTIONS - 10.33%
9,700		AmSouth Bancorp		256,565
63,106		Bank of America Corp		3,035,399
18,600		BB&T Corp		773,574
5,300		Comerica, Inc		275,547
700		Commerce Bancorp, Inc		24,969
700		Compass Bancshares, Inc		38,920
18,583		Fifth Third Bancorp		686,642
1,800		First Horizon National Corp		72,360
1,900		Fremont General Corp		35,264
6,100		Golden West Financial Corp		452,620
1,600		IndyMac Bancorp, Inc		73,360
14,400		Keycorp		513,792
2,000		M&T Bank Corp		235,840
5,900		Marshall & Ilsley Corp		269,866
12,500		Mellon Financial Corp		430,375
21,684		National City Corp		784,744
3,133		New York Community Bancorp, Inc		51,726
12,532		North Fork Bancorporation, Inc		378,090

345

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,600		Northern Trust Corp	$	254,380
9,900		PNC Financial Services Group, Inc		694,683
4,674		Popular, Inc		89,741
2,800		R & G Financial Corp (Class B)		24,052
16,732		Regions Financial Corp		554,164
5,985		Sovereign Bancorp, Inc		121,555
9,100		State Street Corp		528,619
11,700		SunTrust Banks, Inc		892,242
8,000		Synovus Financial Corp		214,240
1,896		TD Banknorth, Inc		55,837
2,300		UnionBanCal Corp		148,557
53,200		US Bancorp		1,642,816
45,468		Wachovia Corp		2,458,909
30,143		Washington Mutual, Inc		1,373,918
41,909		Wells Fargo & Co		2,811,256
1,416		Zions Bancorporation		110,363
		TOTAL DEPOSITORY INSTITUTIONS		20,364,985
EATING AND DRINKING PLACES - 1.34%
4,900	*	AFC Enterprises		62,475
1,350		Applebees International, Inc		25,947
800		Bob Evans Farms, Inc		24,008
4,150		Darden Restaurants, Inc		163,510
800		Lone Star Steakhouse & Saloon, Inc		20,984
42,574		McDonald's Corp		1,430,486
276		OSI Restaurant Partners, Inc		9,550
18,774	*	Starbucks Corp		708,906
393	*	Tim Hortons, Inc		10,120
3,200		Wendy's International, Inc		186,528
		TOTAL EATING AND DRINKING PLACES		2,642,514
EDUCATIONAL SERVICES - 0.00%**
49	*	Laureate Education, Inc		2,089
		TOTAL EDUCATIONAL SERVICES		2,089
ELECTRIC, GAS, AND SANITARY SERVICES - 5.44%
20,695	*	AES Corp		381,823
8,900		AGL Resources, Inc		339,268
3,533		Allete, Inc		167,288
1,480		Alliant Energy Corp		50,764
2,133		Aqua America, Inc		48,611
7,900		Atmos Energy Corp		220,489
12,733		Avista Corp		290,694
4,100		Cascade Natural Gas Corp		86,469
11,007		Cleco Corp		255,913
7,915		Consolidated Edison, Inc		351,743
2,300		Crosstex Energy, Inc		218,684
16,521		El Paso Corp		247,815
13,600		Empire District Electric Co		279,480
3,200		Energen Corp		122,912
685		Energy East Corp		16,392
719		EnergySouth, Inc		22,454
12,700		Hawaiian Electric Industries, Inc		354,457
13,200		Idacorp, Inc		452,628

346

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
14,900		KeySpan Corp	$	601,960
8,500		Kinder Morgan, Inc		849,065
700		Laclede Group, Inc		24,052
770		Markwest Hydrocarbon, Inc		19,057
1,521		Metal Management, Inc		46,573
4,224		MGE Energy, Inc		131,578
9,100		National Fuel Gas Co		319,774
200		New Jersey Resources Corp		9,356
800		Nicor, Inc		33,200
28,119		NiSource, Inc		614,119
763		Northeast Utilities		15,771
4,888	*	NRG Energy, Inc		235,504
18,700		OGE Energy Corp		655,061
5,222		Otter Tail Corp		142,717
26,900		Pepco Holdings, Inc		634,302
2,800		Piedmont Natural Gas Co, Inc		68,040
27,600		Puget Energy, Inc		592,848
5,200		Questar Corp		418,548
1,390		Resource America, Inc (Class A)		26,480
10,722	*	Sierra Pacific Resources		150,108
1,800		South Jersey Industries, Inc		49,302
5,816		TECO Energy, Inc		86,891
3,900		UGI Corp		96,018
5,327		Unisource Energy Corp		165,936
1,266	*	Waste Services, Inc		11,381
4,300		Western Gas Resources, Inc		257,355
5,200		WGL Holdings, Inc		150,540
17,681		Williams Cos, Inc		413,028
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		10,726,448
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.12%
9,225	*	Advanced Micro Devices, Inc		225,275
4,401	*	Agere Systems, Inc		64,695
3,893		American Power Conversion Corp		75,875
700		Ametek, Inc		33,166
3,298	*	Arris Group, Inc		43,270
1,488	*	Atheros Communications, Inc		28,212
500		Baldor Electric Co		15,645
7,209	*	Brocade Communications Systems, Inc		44,263
5,627	*	Capstone Turbine Corp		12,830
462	*	C-COR, Inc		3,567
102,674	*	Cisco Systems, Inc		2,005,223
20,192	*	Conexant Systems, Inc		50,480
1,212	*	Cree, Inc		28,797
2,941	*	Ditech Networks, Inc		25,646
3,918	*	Emcore Corp		37,613
17,500		Emerson Electric Co		1,466,675
400	*	Energizer Holdings, Inc		23,428
459	*	Energy Conversion Devices, Inc		16,721
560	*	Evergreen Solar, Inc		7,269
11,216	*	Finisar Corp		36,676
7,073	*	Freescale Semiconductor, Inc (Class B)		207,946
1,205	*	FuelCell Energy, Inc		11,544
2,632	*	GrafTech International Ltd		15,266

347

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
300	*	Greatbatch, Inc	$	7,080
1,100		Harman International Industries, Inc		93,907
3,621	*	Harmonic, Inc		16,222
107,236		Intel Corp		2,032,122
1,538	*	Interdigital Communications Corp		53,692
726	*	InterVoice, Inc		5,169
395		Lincoln Electric Holdings, Inc		24,747
355		LSI Industries, Inc		6,031
8,327	*	LSI Logic Corp		74,527
100,086	*	Lucent Technologies, Inc		242,208
3,652	*	McData Corp (Class A)		14,900
1,070	*	Medis Technologies Ltd		21,700
14,866	*	Micron Technology, Inc		223,882
5,354		Molex, Inc		179,734
45,700		Motorola, Inc		920,855
8,476	*	MRV Communications, Inc		26,360
6,697		National Semiconductor Corp		159,723
800	*	Novellus Systems, Inc		19,760
1,411	*	Omnivision Technologies, Inc		29,800
6,100	*	ON Semiconductor Corp		35,868
4,957	*	Optical Communication Products, Inc		9,964
900		Park Electrochemical Corp		23,175
1,895		Plantronics, Inc		42,088
840	*	Plexus Corp		28,736
1,633	*	Polycom, Inc		35,795
1,461	*	Power-One, Inc		9,643
3,991	*	Powerwave Technologies, Inc		36,398
2,264	*	QLogic Corp		39,031
32,824		Qualcomm, Inc		1,315,258
6,593	*	Quantum Fuel Systems Technologies Worldwide, Inc		22,416
2,000		RadioShack Corp		28,000
4,183	*	RF Micro Devices, Inc		24,973
767	*	Silicon Storage Technology, Inc		3,114
35,982	*	Sirius Satellite Radio, Inc		170,915
2,000	*	Sycamore Networks, Inc		8,120
2,200		Teleflex, Inc		118,844
11,878	*	Tellabs, Inc		158,096
30,700		Texas Instruments, Inc		929,903
1,286	*	Thomas & Betts Corp		65,972
10,253	*	Transmeta Corp		16,610
5,771	*	Transwitch Corp		12,177
1,307	*	Trident Microsystems, Inc		24,807
2,652	*	Triquint Semiconductor, Inc		11,828
900		Whirlpool Corp		74,385
7,364		Xilinx, Inc		166,795
1,900	*	Zhone Technologies, Inc		3,876
92	*	Zoltek Cos, Inc		2,750
562	*	Zoran Corp		13,679
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		12,065,717
ENGINEERING AND MANAGEMENT SERVICES - 0.80%
1,700	*	Amylin Pharmaceuticals, Inc		83,929
1,200	*	Applera Corp (Celera Genomics Group)		15,540
793	*	Ariad Pharmaceuticals, Inc		3,576

348

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
5,384	*	Celgene Corp	$	255,363
400		Corporate Executive Board Co		40,080
720	*	CV Therapeutics, Inc		10,058
1,175	*	Digitas, Inc		13,654
200	*	Gen-Probe, Inc		10,796
34	*	Hewitt Associates, Inc		764
500	*	ICOS Corp		10,995
2,093	*	Incyte Corp		9,628
2,704	*	Isis Pharmaceuticals, Inc		16,359
570	*	Lexicon Genetics, Inc		2,502
5,600		Moody's Corp		304,976
9,500		Paychex, Inc		370,310
112	*	Per-Se Technologies, Inc		2,820
2,643		Pharmaceutical Product Development, Inc		92,822
4,241		Quest Diagnostics, Inc		254,121
969	*	Regeneron Pharmaceuticals, Inc		12,423
5,161	*	Rentech, Inc		23,999
600	*	Sourcecorp		14,874
200	*	Telik, Inc		3,300
1,164	*	Tetra Tech, Inc		20,649
900	*	Trimeris, Inc		10,341
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,583,879
FABRICATED METAL PRODUCTS - 0.76%
5,280		Commercial Metals Co		135,696
2,332		Dynamic Materials Corp		78,658
2,200		Gulf Island Fabrication, Inc		44,088
20,400		Illinois Tool Works, Inc		969,000
600	*	Jacuzzi Brands, Inc		5,280
2,064		Pentair, Inc		70,568
2,800		Silgan Holdings, Inc		103,628
900		Snap-On, Inc		36,378
1,200		Valmont Industries, Inc		55,788
		TOTAL FABRICATED METAL PRODUCTS		1,499,084
FOOD AND KINDRED PRODUCTS - 2.54%
8,700		Campbell Soup Co		322,857
600		Coca-Cola Co		25,812
8,100		Coca-Cola Enterprises, Inc		164,997
9,800		General Mills, Inc		506,268
9,700		H.J. Heinz Co		399,834
217	*	Hansen Natural Corp		41,310
4,700		Hershey Co		258,829
10,500		Kellogg Co		508,515
900		McCormick & Co, Inc		30,195
2,000		Pepsi Bottling Group, Inc		64,300
38,400		PepsiCo, Inc		2,305,536
7,677		Sara Lee Corp		122,986
5,725		Wrigley (Wm.) Jr Co		259,686
		TOTAL FOOD AND KINDRED PRODUCTS		5,011,125
FOOD STORES - 0.34%
16		Arden Group, Inc (Class A)		1,811
16,700		Kroger Co		365,062

349

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
3,200	*	Pathmark Stores, Inc	$	30,112
3,774		Supervalu, Inc		115,862
2,300		Whole Foods Market, Inc		148,672
		TOTAL FOOD STORES		661,519
FORESTRY - 0.07%
2,058		Weyerhaeuser Co		128,111
		TOTAL FORESTRY		128,111
FURNITURE AND FIXTURES - 0.71%
8,400	*	BE Aerospace, Inc		192,024
2,100		Hillenbrand Industries, Inc		101,850
7,000		Johnson Controls, Inc		575,540
4,400		Leggett & Platt, Inc		109,912
14,100		Masco Corp		417,924
704	*	Tempur-Pedic International, Inc		9,511
		TOTAL FURNITURE AND FIXTURES		1,406,761
FURNITURE AND HOMEFURNISHINGS STORES - 0.31%
4,100	*	Bed Bath & Beyond, Inc		135,997
7,200		Best Buy Co, Inc		394,848
1,553		Circuit City Stores, Inc		42,273
300	*	Mohawk Industries, Inc		21,105
2,048	*	Restoration Hardware, Inc		14,705
300		Williams-Sonoma, Inc		10,215
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		619,143
GENERAL BUILDING CONTRACTORS - 0.46%
400		Beazer Homes USA, Inc		18,348
2,600		Centex Corp		130,780
6,872		DR Horton, Inc		163,691
1,499	*	Hovnanian Enterprises, Inc (Class A)		45,090
3,400		Lennar Corp (Class A)		150,858
60		Lennar Corp (Class B)		2,447
800		MDC Holdings, Inc		41,544
317	*	Meritage Homes Corp		14,978
64	*	NVR, Inc		31,440
4,800		Pulte Homes, Inc		138,192
700		Ryland Group, Inc		30,499
1,200		Standard-Pacific Corp		30,840
3,482	*	Toll Brothers, Inc		89,035
844	*	WCI Communities, Inc		16,998
		TOTAL GENERAL BUILDING CONTRACTORS		904,740
GENERAL MERCHANDISE STORES - 1.26%
600	*	99 Cents Only Stores		6,276
400	*	Big Lots, Inc		6,832
13,210		Costco Wholesale Corp		754,687
4,200		Dollar General Corp		58,716
3,900		Family Dollar Stores, Inc		95,277
5,100		JC Penney Co, Inc		344,301
600	*	Retail Ventures, Inc		10,692
19,500		Target Corp		952,965
10,600		TJX Cos, Inc		242,316
		TOTAL GENERAL MERCHANDISE STORES		2,472,062

350

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
HEALTH SERVICES - 1.22%
1,854	*	Alliance Imaging, Inc	$	11,866
1,239	*	American Retirement Corp		40,602
300	*	Bio-Reference Labs, Inc		6,528
1,139		Brookdale Senior Living, Inc		50,959
971	*	Community Health Systems, Inc		35,684
2,567	*	DaVita, Inc		127,580
600	*	Edwards Lifesciences Corp		27,258
3,237	*	Express Scripts, Inc		232,222
981	*	Five Star Quality Care, Inc		10,860
6,522		Health Management Associates, Inc (Class A)		128,549
902	*	Healthways, Inc		47,481
2,727	*	Hythiam, Inc		19,007
2,846	*	Laboratory Corp of America Holdings		177,107
1,387	*	LifePoint Hospitals, Inc		44,564
1,534	*	Lincare Holdings, Inc		58,046
3,892	*	Nektar Therapeutics		71,379
300		Option Care, Inc		3,594
673	*	Pediatrix Medical Group, Inc		30,487
1,351	*	Psychiatric Solutions, Inc		38,720
1,086	*	Sierra Health Services, Inc		48,903
1,740	*	Sunrise Senior Living, Inc		48,111
1,230	*	Triad Hospitals, Inc		48,683
300		Universal Health Services, Inc (Class B)		15,078
800	*	VistaCare, Inc (Class A)		9,680
14,649	*	WellPoint, Inc		1,066,008
		TOTAL HEALTH SERVICES		2,398,956
HOLDING AND OTHER INVESTMENT OFFICES - 2.70%
10,590		Allied Capital Corp		304,674
300		AMB Property Corp		15,165
1,600		American Financial Realty Trust		15,488
2,900		Annaly Mortgage Management, Inc		37,149
6,858		Archstone-Smith Trust		348,866
1,300		AvalonBay Communities, Inc		143,806
2,900		Boston Properties, Inc		262,160
200		CarrAmerica Realty Corp		8,910
1,781		Cherokee, Inc		73,662
1,000		Crescent Real Estate Equities Co		18,560
1,600		Developers Diversified Realty Corp		83,488
4,390		Duke Realty Corp		154,309
17,300		Equity Office Properties Trust		631,623
10,113		Equity Residential		452,354
200		FelCor Lodging Trust, Inc		4,348
3,770		General Growth Properties, Inc		169,876
800		Harris & Harris Group, Inc		8,832
1,000		Health Care Property Investors, Inc		26,740
200		Highwoods Properties, Inc		7,236
1,200		Hospitality Properties Trust		52,704
10,000		Host Marriott Corp		218,700
2,500		HRPT Properties Trust		28,900
3,100		iStar Financial, Inc		117,025

351

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
6,700		Kimco Realty Corp	$	244,483
200		Liberty Property Trust		8,840
10,600		Luminent Mortgage Capital, Inc		98,156
1,400		MFA Mortgage Investments, Inc		9,632
6,265		New Plan Excel Realty Trust		154,683
3,174		NTL, Inc		79,033
6,900		Prologis		359,628
2,738		Public Storage, Inc		207,814
6,400		Simon Property Group, Inc		530,816
4,100		Vornado Realty Trust		399,955
1,250		Weingarten Realty Investors		47,850
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		5,325,465
HOTELS AND OTHER LODGING PLACES - 0.31%
4,100		Choice Hotels International, Inc		248,460
2,970	*	Gaylord Entertainment Co		129,611
8,815	*	Great Wolf Resorts, Inc		105,868
2,900	*	Lodgian, Inc		41,325
2,600		Marcus Corp		54,288
1,430	*	Morgans Hotel Group Co		22,251
		TOTAL HOTELS AND OTHER LODGING PLACES		601,803
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.53%
29,100		3M Co		2,350,407
3,391	*	AGCO Corp		89,251
5,200		American Standard Cos, Inc		225,004
13,395	*	Apple Computer, Inc		765,122
36,007		Applied Materials, Inc		586,194
979	*	Astec Industries, Inc		33,403
2,600		Black & Decker Corp		219,596
900		Briggs & Stratton Corp		27,999
1,107	*	Brooks Automation, Inc		13,063
2,900	*	Cameron International Corp		138,533
300		CDW Corp		16,395
1,100		Cummins, Inc		134,475
8,600		Deere & Co		718,014
40,000	*	Dell, Inc		976,400
200		Donaldson Co, Inc		6,774
500	*	Dril-Quip, Inc		41,220
47,421	*	EMC Corp		520,208
400	*	Emulex Corp		6,508
857	*	Entegris, Inc		8,167
400	*	Flowserve Corp		22,760
1,500	*	FMC Technologies, Inc		101,190
1,200	*	Gehl Co		30,636
800		Graco, Inc		36,784
1,093	*	Grant Prideco, Inc		48,912
52,188		Hewlett-Packard Co		1,653,316
300	*	Intermec, Inc		6,882
33,931		International Business Machines Corp		2,606,579
680	*	Intevac, Inc		14,742
2,697	*	Lam Research Corp		125,734
1,100		Lennox International, Inc		29,128
1,900	*	Lexmark International, Inc		106,077

352

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
810		Lufkin Industries, Inc	$	48,138
2,022		Manitowoc Co, Inc		89,979
1,200		Modine Manufacturing Co		28,032
600		Nordson Corp		29,508
1,100	*	Oil States International, Inc		37,708
2,400		Pall Corp		67,200
407	*	Rackable Systems, Inc		16,072
400		Sauer-Danfoss, Inc		10,168
2,031	*	Semitool, Inc		18,320
7,300		Smith International, Inc		324,631
30,003	*	Solectron Corp		102,610
1,700		SPX Corp		95,115
2,600		Stanley Works		122,772
2,153		Tennant Co		108,253
769	*	TurboChef Technologies, Inc		8,551
2,300	*	Varian Medical Systems, Inc		108,905
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		12,875,435
INSTRUMENTS AND RELATED PRODUCTS - 5.32%
600	*	Advanced Medical Optics, Inc		30,420
1,129	*	Affymetrix, Inc		28,902
100		Analogic Corp		4,661
2,400		Bard (C.R.), Inc		175,824
700		Bausch & Lomb, Inc		34,328
19,648		Baxter International, Inc		722,260
1,400		Beckman Coulter, Inc		77,770
7,200		Becton Dickinson & Co		440,136
7,174		Biomet, Inc		224,474
25,107	*	Boston Scientific Corp		422,802
638	*	Bruker BioSciences Corp		3,420
1,187	*	Cepheid, Inc		11,526
300		Cooper Cos, Inc		13,287
6,074	*	Credence Systems Corp		21,259
1,891		Dentsply International, Inc		114,595
100	*	DJ Orthopedics, Inc		3,683
2,180	*	Fisher Scientific International, Inc		159,249
318	*	Formfactor, Inc		14,192
400	*	Hologic, Inc		19,744
700	*	Illumina, Inc		20,762
2,138	*	Input/Output, Inc		20,204
583	*	Intuitive Surgical, Inc		68,777
2,151	*	Ixia		19,359
76,839		Johnson & Johnson		4,604,193
3,868		Kla-Tencor Corp		160,793
2,835	*	LTX Corp		19,873
28,300		Medtronic, Inc		1,327,836
700	*	Millipore Corp		44,093
847	*	MKS Instruments, Inc		17,042
6,500		Pitney Bowes, Inc		268,450
500	*	Resmed, Inc		23,475
600		Roper Industries, Inc		28,050
7,400	*	St. Jude Medical, Inc		239,908
7,300		Stryker Corp		307,403
100	*	Techne Corp		5,092

353

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
1,800		Tektronix, Inc	$	52,956
3,100	*	Thermo Electron Corp		112,344
500	*	TriPath Imaging, Inc		3,310
2,100	*	Waters Corp		93,240
15,900	*	Xerox Corp		221,169
5,200	*	Zimmer Holdings, Inc		294,944
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		10,475,805
INSURANCE AGENTS, BROKERS AND SERVICE - 0.50%
2,500		Brown & Brown, Inc		73,050
4,100		Crawford & Co (Class B)		29,438
10,400		Hartford Financial Services Group, Inc		879,840
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		982,328
INSURANCE CARRIERS - 4.49%
12,532		Aetna, Inc		500,403
19,200		Aflac, Inc		889,920
3,800		Ambac Financial Group, Inc		308,180
700		American Financial Group, Inc		30,030
1,960	*	AMERIGROUP Corp		60,838
1,082	*	Centene Corp		25,459
16,600		Chubb Corp		828,340
10,635		Cincinnati Financial Corp		499,951
1,000		Commerce Group, Inc		29,540
876		Erie Indemnity Co (Class A)		45,552
700		HCC Insurance Holdings, Inc		20,608
829	*	HealthExtras, Inc		25,052
13,250		Lincoln National Corp		747,830
4,400		MBIA, Inc		257,620
900		Mercury General Corp		50,733
2,500		MGIC Investment Corp		162,500
871	*	Molina Healthcare, Inc		33,142
700		Phoenix Cos, Inc		9,856
34	*	PMA Capital Corp (Class A)		350
1,300		PMI Group, Inc		57,954
10,200		Principal Financial Group		567,630
24,380		Progressive Corp		626,810
17,700		Prudential Financial, Inc		1,375,290
1,800		Radian Group, Inc		111,204
6,772		Safeco Corp		381,602
23,347		St. Paul Travelers Cos, Inc		1,040,809
3,000		W.R. Berkley Corp		102,390
1,358	*	WellCare Health Plans, Inc		66,610
		TOTAL INSURANCE CARRIERS		8,856,203
LEATHER AND LEATHER PRODUCTS - 0.12%
7,048	*	Coach, Inc		210,735
800		Weyco Group, Inc		18,576
		TOTAL LEATHER AND LEATHER PRODUCTS		229,311
LUMBER AND WOOD PRODUCTS - 0.00%**
700	*	Champion Enterprises, Inc		7,728
		TOTAL LUMBER AND WOOD PRODUCTS		7,728

354

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
METAL MINING - 0.08%
5,762		Royal Gold, Inc	$	160,299
		TOTAL METAL MINING		160,299
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.16%
1,486		Callaway Golf Co		19,303
800	*	K2, Inc		8,752
2,150		Marine Products Corp		20,920
14,510		Mattel, Inc		239,560
300		Nautilus, Inc		4,713
1,997	*	Russ Berrie & Co, Inc		24,483
110	*	Steinway Musical Instruments, Inc		2,697
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		320,428
MISCELLANEOUS RETAIL - 1.24%
5,548	*	Amazon.com, Inc		214,597
15,300		CVS Corp		469,710
567	*	Dollar Tree Stores, Inc		15,026
676	*	Drugstore.com, Inc		1,960
404	*	GSI Commerce, Inc		5,466
700		Michaels Stores, Inc		28,868
215	*	Nutri/System, Inc		13,358
4,088	*	Office Depot, Inc		155,344
130	*	Overstock.com, Inc		2,764
984		Petsmart, Inc		25,190
15,738		Staples, Inc		382,748
1,200		Tiffany & Co		39,624
22,500		Walgreen Co		1,008,900
1,816		World Fuel Services Corp		82,973
		TOTAL MISCELLANEOUS RETAIL		2,446,528
MOTION PICTURES - 2.23%
10,891	*	Discovery Holding Co (Class A)		159,335
1,000	*	DreamWorks Animation SKG, Inc (Class A)		22,900
1,000		Regal Entertainment Group (Class A)		20,320
147,029		Time Warner, Inc		2,543,602
54,750		Walt Disney Co		1,642,500
		TOTAL MOTION PICTURES		4,388,657
NONDEPOSITORY INSTITUTIONS - 3.23%
460	*	Accredited Home Lenders Holding Co		21,993
440		Advanta Corp (Class A)		14,428
200		Advanta Corp (Class B)		7,190
7,440		American Capital Strategies Ltd		249,091
40,400		American Express Co		2,150,088
3,269	*	AmeriCredit Corp		91,270
1,890		Ares Capital Corp		31,998
7,253		Capital One Financial Corp		619,769
3,178		CapitalSource, Inc		74,556
1,100		CharterMac		20,581
7,710		CIT Group, Inc		403,156
331	*	CompuCredit Corp		12,724
14,674		Countrywide Financial Corp		558,786

355

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
7,800		Doral Financial Corp	$	49,998
700		Federal Agricultural Mortgage Corp (Class C)		19,390
1,000		First Marblehead Corp		56,940
20,400		Freddie Mac		1,163,004
6,200		MCG Capital Corp		98,580
13,800		SLM Corp		730,296
		TOTAL NONDEPOSITORY INSTITUTIONS		6,373,838
NONMETALLIC MINERALS, EXCEPT FUELS - 0.16%
3,000		AMCOL International Corp		79,050
750		Florida Rock Industries, Inc		37,252
2,600		Vulcan Materials Co		202,800
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		319,102
OIL AND GAS EXTRACTION - 4.88%
24,600		Anadarko Petroleum Corp		1,173,174
16,294		Apache Corp		1,112,065
1,237	*	Atlas America, Inc		55,430
1,257	*	ATP Oil & Gas Corp		52,706
3,699		Baker Hughes, Inc		302,763
1,800		Berry Petroleum Co (Class A)		59,670
2,300		Cabot Oil & Gas Corp (Class A)		112,700
2,500	*	Callon Petroleum Co		48,350
1,100	*	Carrizo Oil & Gas, Inc		34,441
1,434	*	Cheniere Energy, Inc		55,926
6,998		Chesapeake Energy Corp		211,690
4,777		Cimarex Energy Co		205,411
700	*	Delta Petroleum Corp		11,991
5,800	*	Denbury Resources, Inc		183,686
16,886		Devon Energy Corp		1,020,083
1,400	*	Edge Petroleum Corp		27,972
1,800	*	Encore Acquisition Co		48,294
1,200	*	Energy Partners Ltd		22,740
6,100		ENSCO International, Inc		280,722
9,700		Equitable Resources, Inc		324,950
4,200	*	Forest Oil Corp		139,272
2,037	*	Gasco Energy, Inc		9,065
3,700	*	Global Industries Ltd		61,790
1,000	*	Goodrich Petroleum Corp		28,390
5,300	*	Grey Wolf, Inc		40,810
2,000	*	Helix Energy Solutions Group, Inc		80,720
2,100		Helmerich & Payne, Inc		126,546
2,200	*	Houston Exploration Co		134,618
1,409	*	KCS Energy, Inc		41,847
7,733	*	Meridian Resource Corp		27,065
4,588	*	National Oilwell Varco, Inc		290,512
5,400	*	Newfield Exploration Co		264,276
8,400		Noble Energy, Inc		393,624
2,250	*	Parallel Petroleum Corp		55,597
4,062	*	PetroHawk Energy Corp		51,181
200	*	Petroleum Development Corp		7,540
1,493	*	Petroquest Energy, Inc		18,334
6,169		Pioneer Natural Resources Co		286,303
2,735	*	Plains Exploration & Production Co		110,877

356

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,100		Pogo Producing Co	$	189,010
4,900	*	Pride International, Inc		153,027
650	*	Quicksilver Resources, Inc		23,927
3,750		Range Resources Corp		101,963
1,200	*	Remington Oil & Gas Corp		52,764
3,100		Rowan Cos, Inc		110,329
3,193	*	Southwestern Energy Co		99,494
2,600		St. Mary Land & Exploration Co		104,650
2,300	*	Stone Energy Corp		107,065
700	*	Superior Energy Services		23,730
800	*	Swift Energy Co		34,344
3,500		Tidewater, Inc		172,200
1,156	*	Toreador Resources Corp		32,518
9,793	*	Transmontaigne, Inc		109,780
1,200	*	Unit Corp		68,268
2,100		W&T Offshore, Inc		81,669
1,500	*	Whiting Petroleum Corp		62,805
12,976		XTO Energy, Inc		574,448
		TOTAL OIL AND GAS EXTRACTION		9,615,122
PAPER AND ALLIED PRODUCTS - 0.95%
2,900		Bemis Co		88,798
2,200		Bowater, Inc		50,050
4,800	*	Buckeye Technologies, Inc		36,672
2,300		Chesapeake Corp		37,743
7,483		International Paper Co		241,701
12,800		Kimberly-Clark Corp		789,760
10,800		MeadWestvaco Corp		301,644
3,100		Packaging Corp of America		68,262
1,600		Rock-Tenn Co (Class A)		25,520
3,200		Sonoco Products Co		101,280
2,600		Temple-Inland, Inc		111,462
2,200		Wausau Paper Corp		27,390
		TOTAL PAPER AND ALLIED PRODUCTS		1,880,282
PERSONAL SERVICES - 0.01%
400		Weight Watchers International, Inc		16,356
		TOTAL PERSONAL SERVICES		16,356
PETROLEUM AND COAL PRODUCTS - 1.54%
782		Alon USA Energy, Inc		24,609
9,200		EOG Resources, Inc		637,928
9,124		Frontier Oil Corp		295,618
811	*	Headwaters, Inc		20,729
6,388		Hess Corp		337,606
1,191		Holly Corp		57,406
5,089		Murphy Oil Corp		284,272
6,600		Sunoco, Inc		457,314
13,100		Valero Energy Corp		871,412
1,733		Western Refining, Inc		37,398
		TOTAL PETROLEUM AND COAL PRODUCTS		3,024,292
PRIMARY METAL INDUSTRIES - 1.52%
2,218	*	Aleris International, Inc		101,695

357

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
679	*	Brush Engineered Materials, Inc	$	14,157
2,009	*	Century Aluminum Co		71,701
896	*	Chaparral Steel Co		64,530
893	*	CommScope, Inc		28,058
28,393	*	Corning, Inc		686,827
3,503		Gibraltar Industries, Inc		101,587
2,300		Hubbell, Inc (Class B)		109,595
1,300	*	Lone Star Technologies, Inc		70,226
2,000	*	Maverick Tube Corp		126,380
3,400		Mueller Industries, Inc		112,302
1,743	*	NS Group, Inc		96,004
10,800		Nucor Corp		585,900
634		Olympic Steel, Inc		22,437
1,350		Quanex Corp		58,145
1,984		Steel Dynamics, Inc		130,428
2,600		Steel Technologies, Inc		50,544
3,983		Tredegar Corp		63,011
3,619		United States Steel Corp		253,764
3,422	*	Wheeling-Pittsburgh Corp		68,064
8,500		Worthington Industries, Inc		178,075
		TOTAL PRIMARY METAL INDUSTRIES		2,993,430
PRINTING AND PUBLISHING - 0.92%
1,000	*	ACCO Brands Corp		21,900
600		Dow Jones & Co, Inc		21,006
1,500	*	Dun & Bradstreet Corp		104,520
6,100		EW Scripps Co		263,154
100		Harte-Hanks, Inc		2,564
12,900		McGraw-Hill Cos, Inc		647,967
3,600		New York Times Co (Class A)		88,344
858		R.H. Donnelley Corp		46,392
807		Standard Register Co		9,563
11,400		Tribune Co		369,702
300		Washington Post Co (Class B)		234,003
		TOTAL PRINTING AND PUBLISHING		1,809,115
RAILROAD TRANSPORTATION - 0.67%
5,117		CSX Corp		360,441
700	*	Genesee & Wyoming, Inc (Class A)		24,829
2,400	*	Kansas City Southern Industries, Inc		66,480
16,400		Norfolk Southern Corp		872,808
		TOTAL RAILROAD TRANSPORTATION		1,324,558
REAL ESTATE - 0.05%
3,431	*	CB Richard Ellis Group, Inc		85,432
2,796		Stewart Enterprises, Inc (Class A)		16,077
		TOTAL REAL ESTATE		101,509
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.06%
1,500		Cooper Tire & Rubber Co		16,710
1,500		Sealed Air Corp		78,120
1,100		Spartech Corp		24,860
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		119,690

358

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 2.88%
1,100		A.G. Edwards, Inc	$	60,852
2,183		Ameriprise Financial, Inc		97,515
314	*	Cbot Holdings, Inc		37,551
24,100		Charles Schwab Corp		385,118
600		Chicago Mercantile Exchange Holdings, Inc		294,690
5,687	*	E*Trade Financial Corp		129,777
700		Eaton Vance Corp		17,472
8,100		Franklin Resources, Inc		703,161
9,263		Goldman Sachs Group, Inc		1,393,433
545		International Securities Exchange, Inc		20,748
200	*	Investment Technology Group, Inc		10,172
4,000		Janus Capital Group, Inc		71,600
2,450		Legg Mason, Inc		243,824
24,700		Merrill Lynch & Co, Inc		1,718,132
1,172	*	Nasdaq Stock Market, Inc		35,043
2,423	*	NYSE Group, Inc		165,927
600		SEI Investments Co		29,328
7,000		T Rowe Price Group, Inc		264,670
		TOTAL SECURITY AND COMMODITY BROKERS		5,679,013
SPECIAL TRADE CONTRACTORS - 0.03%
500	*	Layne Christensen Co		14,175
2,993	*	Quanta Services, Inc		51,869
		TOTAL SPECIAL TRADE CONTRACTORS		66,044
STONE, CLAY, AND GLASS PRODUCTS - 0.05%
173	*	Cabot Microelectronics Corp		5,244
300		CARBO Ceramics, Inc		14,739
702		Eagle Materials, Inc		33,345
3,752		Gentex Corp		52,528
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		105,856
TRANSPORTATION BY AIR - 0.77%
3,427	*	Airtran Holdings, Inc		50,925
700	*	Alaska Air Group, Inc		27,594
3,119	*	Continental Airlines, Inc (Class B)		92,946
4,427	*	ExpressJet Holdings, Inc		30,591
6,484		FedEx Corp		757,720
3,155	*	Frontier Airlines Holdings, Inc		22,748
5,366	*	JetBlue Airways Corp		65,143
2,884	*	Mesa Air Group, Inc		28,407
2,081		Skywest, Inc		51,609
23,363		Southwest Airlines Co		382,452
		TOTAL TRANSPORTATION BY AIR		1,510,135
TRANSPORTATION EQUIPMENT - 1.07%
500	*	Aftermarket Technology Corp		12,425
1,500		American Axle & Manufacturing Holdings, Inc		25,665
2,100		ArvinMeritor, Inc		36,099
3,600		Autoliv, Inc		203,652
6,500	*	Aviall, Inc		308,880
2,341		Brunswick Corp		77,838
300		Federal Signal Corp		4,542

359

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
10,003		Genuine Parts Co	$	416,725
7,700		Harley-Davidson, Inc		422,653
2,600		Harsco Corp		202,696
3,672		JLG Industries, Inc		82,620
361		Martin Marietta Materials, Inc		32,905
1,710	*	Navistar International Corp		42,083
1,035		Noble International Ltd		14,821
2,300		Superior Industries International, Inc		42,067
1,800	*	Tenneco, Inc		46,800
300		Thor Industries, Inc		14,535
1,200	*	TRW Automotive Holdings Corp		32,736
5,874	*	Visteon Corp		42,352
1,400		Westinghouse Air Brake Technologies Corp		52,360
		TOTAL TRANSPORTATION EQUIPMENT		2,114,454
TRANSPORTATION SERVICES - 0.11%
600		CH Robinson Worldwide, Inc		31,980
1,800		Expeditors International Washington, Inc		100,818
2,550	*	RailAmerica, Inc		26,673
2,305		Sabre Holdings Corp		50,710
		TOTAL TRANSPORTATION SERVICES		210,181
TRUCKING AND WAREHOUSING - 0.74%
17,729		United Parcel Service, Inc (Class B)		1,459,629
		TOTAL TRUCKING AND WAREHOUSING		1,459,629
WATER TRANSPORTATION - 0.03%
1,600	*	Gulfmark Offshore, Inc		41,328
200	*	Hornbeck Offshore Services, Inc		7,104
		TOTAL WATER TRANSPORTATION		48,432
WHOLESALE TRADE-DURABLE GOODS - 0.59%
6,800		Barnes Group, Inc		135,660
1,600		BorgWarner, Inc		104,160
1,577		Castle (A.M.) & Co		50,858
1,080	*	Cytyc Corp		27,389
1,900		IKON Office Solutions, Inc		23,940
2,835		Omnicare, Inc		134,436
2,700	*	Patterson Cos, Inc		94,311
2,100		Reliance Steel & Aluminum Co		174,195
4,300		Ryerson Tull, Inc		116,100
200	*	Tech Data Corp		7,662
3,100		W.W. Grainger, Inc		233,213
821	*	WESCO International, Inc		56,649
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,158,573
WHOLESALE TRADE-NONDURABLE GOODS - 0.82%
500		Airgas, Inc		18,625
500	*	Allscripts Healthcare Solutions, Inc		8,775
600	*	Dean Foods Co		22,314
4,100	*	Endo Pharmaceuticals Holdings, Inc		135,218
1,000	*	Henry Schein, Inc		46,730
7,200		Nike, Inc (Class B)		583,200
11,600		Safeway, Inc		301,600

360

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
1,700		Stride Rite Corp	$	22,423
15,400		Sysco Corp		470,624
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,609,509
		TOTAL COMMON STOCKS		195,523,543
		(Cost $172,868,151)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.23%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.23%
$     460,000		Federal Home Loan Bank (FHLB) 4.950%, 07/03/06		460,000
		TOTAL SHORT-TERM INVESTMENTS		460,000
		(Cost $459,876)
		TOTAL PORTFOLIO - 99.45%		195,983,543
		(Cost $173,328,027)
		OTHER ASSETS & LIABILITIES, NET - 0.55%		1,081,754
		NET ASSETS - 100.00%	$	197,065,297
	*	Non-income producing
	**	Percentage represents less than 0.01%
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the funds use more specific industry categories in following
		their investment limitations on industry concentration.

361

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Real Estate Securities Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
REAL ESTATE SECURITIES FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.51%
HOLDING AND OTHER INVESTMENT OFFICES - 98.46%
74,700	*	Affordable Residential Communities	$	803,025
72,796		Alexandria Real Estate Equities, Inc		6,455,549
24,100		AMB Property Corp		1,218,255
183,700		Apartment Investment & Management Co (Class A)		7,981,765
385,000		Archstone-Smith Trust		19,584,950
150,000		Ashford Hospitality Trust, Inc		1,893,000
126,500		AvalonBay Communities, Inc		13,993,430
325,000		BioMed Realty Trust, Inc		9,730,500
170,000		BNP Residential Properties, Inc		2,898,500
368,000		Boston Properties, Inc		33,267,200
99,000		BRE Properties, Inc (Class A)		5,445,000
63,500		CBL & Associates Properties, Inc		2,472,055
250,000	f,v	CBRE Realty Finance, Inc		3,750,000
69,500		Cedar Shopping Centers, Inc		1,023,040
521,145	a	Cogdell Spencer, Inc		10,167,539
363,300		Corporate Office Properties Trust		15,287,664
105,000	f,v	Crystal River Capital, Inc		2,625,000
175,000	f,v,*	Deerfield Triarc Capital Corp		2,271,500
150,000		Developers Diversified Realty Corp		7,827,000
175,000	f,v	DiamondRock Hospitality Co		2,591,750
27,900		Digital Realty Trust, Inc		688,851
248,647		EastGroup Properties, Inc		11,606,842
499,900		Education Realty Trust, Inc		8,323,335
175,000		Equity Office Properties Trust		6,389,250
50,000		Equity One, Inc		1,045,000
557,800		Equity Residential		24,950,394
50,000		Essex Property Trust, Inc		5,583,000
487,500		Extra Space Storage, Inc		7,917,000
140,000		Federal Realty Investment Trust		9,800,000
400,000		Feldman Mall Properties, Inc		4,384,000
145,000		First Potomac Realty Trust		4,319,550
348,766		General Growth Properties, Inc		15,715,396
580,000		Glenborough Realty Trust, Inc		12,493,200
70,014		GMH Communities Trust		922,785
140,000	f,v*	GSC Capital Corp		3,500,000
333,645		Hersha Hospitality Trust		3,099,562
111,100		Highland Hospitality Corp		1,564,288
120,000		Highwoods Properties, Inc		4,341,600
13,300		Home Properties, Inc		738,283
945,392		Host Marriott Corp		20,675,723
38,527		iShares Cohen & Steers Realty Majors Index Fund		3,226,251
34,849		iShares Dow Jones US Real Estate Index Fund		2,482,991
285,500		Kilroy Realty Corp		20,627,375
376,100		Kimco Realty Corp		13,723,889
99,665		Kite Realty Group Trust		1,553,778
87,400		KKR Financial Corp		1,818,794
38,800		LaSalle Hotel Properties		1,796,440
237,000		Macerich Co		16,637,400

362

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Real Estate Securities Fund
SHARES		COMPANY		VALUE
336,900		Medical Properties Trust, Inc	$	3,719,376
96,700		Mills Corp		2,586,725
632,000		Mission West Properties, Inc		7,002,560
311,216		Monmouth REIT (Class A)		2,508,401
100,000		New Plan Excel Realty Trust		2,469,000
75,000		Pan Pacific Retail Properties, Inc		5,202,750
220,000	f,v*	People's Choice Financial Corp		2,200,000
1,900		Post Properties, Inc		86,146
491,000		Prologis		25,590,920
55,000		PS Business Parks, Inc		3,245,000
148,800		Public Storage, Inc		11,293,920
111,400		Regency Centers Corp		6,923,510
32,600		Shurgard Storage Centers, Inc (Class A)		2,037,500
352,300		Simon Property Group, Inc		29,219,762
126,800		SL Green Realty Corp		13,880,796
219,000		Strategic Hotel Capital, Inc		4,542,060
75,000		Taubman Centers, Inc		3,067,500
249,100		United Dominion Realty Trust, Inc		6,977,291
173,900		U-Store-It Trust		3,279,754
275,000		Vornado Realty Trust		26,826,250
32,500		Washington Real Estate Investment Trust		1,192,750
133,300		Weingarten Realty Investors		5,102,724
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		530,166,394
HOTELS AND OTHER LODGING PLACES - 0.56%
50,000		Starwood Hotels & Resorts Worldwide, Inc		3,017,000
		TOTAL HOTELS AND OTHER LODGING PLACES		3,017,000
REAL ESTATE - 0.49%
310,000	f,v	Asset Capital Corp, Inc		2,635,000
		TOTAL REAL ESTATE		2,635,000
		TOTAL COMMON STOCKS		535,818,394
		(Cost $478,039,577)
		TOTAL PORTFOLIO - 99.51%		535,818,394
		(Cost $478,039,577)
		OTHER ASSETS & LIABILITIES, NET - 0.49%		2,618,969
		NET ASSETS - 100.00%	$	538,437,363
	*	Non-income producing
	a	Affiliated security
	f	Security is exempt from registration under Rule 144 (A) of the Securities Act of 1933 and may be resold in
		transaction exempt from registration to qualified institutional buyers.
		At June 30, 2006 , the value of these securities amounted to $19,573,250 or 3.64% of net assets.
	v	Security valued at fair value.
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the Funds use more specific industry categories in following
		their investment limitations on industry concentration.

363

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Real Estate Securities Fund 

Restricted securities held by the Fund are as follows:
	ACQUISITION	ACQUISITION
SECURITY	DATE	COST	VALUE
Asset Capital Corp, Inc	06/23/05	$     2,635,000	$     2,635,000
CBRE Realty Finance, Inc	06/02/05	3,750,000	3,750,000
Crystal River Capital, Inc	03/09/05	2,625,000	2,625,000
GSC Capital Corp	06/24/05	3,500,000	3,500,000
People's Choice Financial Corp	12/21/04	2,200,000	2,200,000

Transactions with Affiliated Companies
October 1, 2005 through June 30, 2006

	SECURITY	DIVIDEND INCOME		SHARES	VALUE
	Cogdell Spencer, Inc @	$	102,601	521,145	$	10,167,539
@	Not an affiliate at September 30, 2005, cost $9,507,055, purchased 10-27-05 through 05-02-06

364

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Managed Allocation II Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MANAGED ALLOCATION II FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

SHARES			VALUE
TIAA-CREF MUTUAL FUNDS - 99.32%
229,334	TIAA-CREF Institutional Bond Plus II Fund - Institutional Class	$	2,261,234
16,319	TIAA-CREF Institutional High-Yield II Fund - Institutional Class		158,786
62,070	TIAA-CREF Institutional International Equity Fund - Institutional Class		794,497
95,610	TIAA-CREF Institutional Large-Cap Value Fund - Institutional Class		1,437,024
147,486	TIAA-CREF Institutional Large-Cap Growth Fund - Institutional Class		1,383,419
28,473	TIAA-CREF Institutional Money Market Fund - Institutional Class		28,474
4,588	TIAA-CREF Institutional Real Estate Securities Fund - Institutional Class		65,574
9,462	TIAA-CREF Institutional Short-Term Bond II Fund - Institutional Class		93,961
13,559	TIAA-CREF Institutional Social Choice Equity Fund - Institutional Class		216,131
	TOTAL TIAA-CREF MUTUAL FUNDS		6,439,100
	(Cost $6,497,919)
	TOTAL PORTFOLIO - 99.32%		6,439,100
	(Cost $6,497,919)
	OTHER ASSETS & LIABILITIES, NET - 0.68%		43,951
	NET ASSETS - 100.00%	$	6,483,051

365

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
BOND FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
BONDS - 98.05%
CORPORATE BONDS - 29.18%
AMUSEMENT AND RECREATION SERVICES - 0.02%
$     250,000		Harrah's Operating Co, Inc	6.500%	06/01/16	Baa3	$	243,795
		TOTAL AMUSEMENT AND RECREATION SERVICES					243,795
ASSET BACKED - 3.02%
217,679		AQ Finance NIM Trust Series 2004-RN2	5.523	04/25/09	Aaa		217,609
160,679	v	AQ Finance NIM Trust Series 2004-RN3	5.503	05/25/09	Aaa		160,679
154,620		Asset Backed Funding Corp NIM Trust Series 2005-WMC1 (Class
		N1)	5.900	07/26/35	NR		154,245
600,000		Centex Home Equity Series 2004-C (Class AF5)	5.980	06/25/34	Aaa		572,373
111,058		Chase Funding Mortgage Loan Asset-Backed Certificates Series
		2004-2 (Class 1A2)	3.777	01/25/22	Aaa		110,671
1,000,000		Chase Funding Mortgage Loan Asset-Backed Certificates Series
		2004-2 (Class 1B)	5.700	02/25/34	Baa2		958,246
1,000,000		Chase Funding Mortgage Loan Asset-Backed Certificates Series
		2004-2 (Class 1M1)	5.700	02/25/34	Aa2		984,570
2,000,000		Chase Manhattan Auto Owner Trust Series 2004-A (Class A4)	2.830	09/15/10	Aaa		1,939,464
1,500,000		CIT Equipment Collateral Series 2005-VT1 (Class A4)	4.360	11/20/12	Aaa		1,470,083
2,117,686		CIT Group Home Equity Loan Trust Series 2002-1 (Class AF6)	6.200	02/25/30	Aaa		2,126,606
383,189		Countrywide Home Equity Loan Trust Series 2004-B (Class 1A)	5.419	02/15/29	Aaa		383,568
755,968		Detroit Edison Securitization Funding LLC Series 2001-1 (Class
		A3)	5.875	03/01/10	Aaa		758,062
1,999,611		GMAC Mortgage Corp Loan Trust 2006-HLTV A3	5.590	03/01/30	Aaa		1,978,406
1,000,000		GMAC Mortgage Corp Loan Trust Series 2005-HE2 (Class A3)	4.622	11/25/35	Aaa		984,308
2,000,000		GMAC Mortgage Corp Loan Trust 2006-HLTV A4	5.810	03/01/36	Aaa		1,964,506
2,325,501		Golden Securities Corp Series 2003-A (Class A1)	5.409	12/02/13	Aaa		2,305,517
300,000	v	Long Beach Asset Holdings Corp Series 2006-4 (Class N1)	5.877	06/25/46	NR		300,000
5,350,000		Marriott Vacation Club Owner Trust Series 2006-1A (Class A)	5.737	04/20/28	Aaa		5,323,385
2,000,000		Morgan Stanley Capital I Series 2006-HE1 (Class A2)	5.443	01/25/36	Aaa		2,000,956
300,000		Morgan Stanley Capital I Series 2006-IQ11 (Class AJ)	5.779	10/15/42	NR		296,587
550,000		Peco Energy Transition Trust Series 1999-A (Class A7)	6.130	03/01/09	Aaa		553,748
614,900		Public Service New Hampshire Funding LLC Series 2001-1 (Class
		A2)	5.730	11/01/10	Aaa		616,557
8,000,000		Residential Asset Mortgage Products, Inc Series 2004-RS11 (Class
		M1)	5.943	11/25/34	Aa1		8,052,592
771,688		Residential Asset Securities Corp Series 2001-KS2 (Class AI6)	6.489	10/25/30	Aaa		772,425
1,600,000		Residential Funding Mortgage Securities II, Inc Series 2006-HI1
		(Class A3)	5.570	02/25/36	Aaa		1,581,339
2,000,000		Residential Funding Mortgage Securities II, Inc Series 2006-H12
		(Class A2)	5.750	02/25/36	Aaa		1,991,828
200,000		Residential Funding Mortgage Securities II, Inc Series 2006-HI1
		(Class M2)	6.060	02/25/36	Aa2		196,459

366

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     3,000,000		Residential Funding Mortgage Securities II, Inc Series 2006-HSA2	5.550	03/25/36	Aaa	$	2,966,577
		(Class AI3)
3,000,000	h,v	Sierra Receivables Funding Co Series 2006-1A (Class A1)	5.840	05/20/18	Aaa		2,999,703
2,214,759		Wachovia Loan Trust Series 2005-SD1 (Class A)	5.683	05/25/35	NR		2,215,977
		TOTAL ASSET BACKED					46,937,046
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.30%
2,550,000		Home Depot, Inc	5.400	03/01/16	Aa3		2,444,552
2,000,000		Lowe's Cos, Inc	8.250	06/01/10	A2		2,175,258
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					4,619,810
BUSINESS SERVICES - 0.03%
410,000		Cendant Corp	7.375	01/15/13	Baa1		448,477
		TOTAL BUSINESS SERVICES					448,477
CHEMICALS AND ALLIED PRODUCTS - 0.55%
2,400,000		Abbott Laboratories	5.600	05/15/11	Aa3		2,385,818
280,000		EI Du Pont de Nemours & Co	3.375	11/15/07	Aa3		271,027
1,645,000		EI Du Pont de Nemours & Co	4.125	03/06/13	Aa3		1,482,340
1,100,000		Ecolab, Inc	6.875	02/01/11	A2		1,144,131
900,000		Genentech, Inc	5.250	07/15/35	A1		775,168
250,000		Lubrizol Corp	4.625	10/01/09	Baa3		238,839
1,500,000		Lubrizol Corp	5.500	10/01/14	Baa3		1,406,263
830,000		Merck & Co, Inc	5.250	07/01/06	Aaa		830,000
		TOTAL CHEMICALS AND ALLIED PRODUCTS					8,533,586
COMMUNICATIONS - 2.35%
1,000,000		America Movil S.A. de C.V.	6.375	03/01/35	A3		879,060
16,000		AT&T Corp	6.000	03/15/09	Baa2		16,046
2,000,000		AT&T, Inc	5.100	09/15/14	A2		1,855,306
1,400,000		AT&T, Inc	6.150	09/15/34	A2		1,285,324
280,000		BellSouth Corp	6.875	10/15/31	A2		277,608
1,500,000		Comcast Corp	5.850	11/15/15	NR		1,443,572
2,000,000		Comcast Corp	5.900	03/15/16	Baa2		1,920,104
1,750,000		Comcast Corp	5.650	06/15/35	NR		1,487,749
400,000		Comcast Corp	6.500	11/15/35	Baa2		377,733
500,000		COX Communications, Inc	4.625	06/01/13	Baa2		448,449
1,500,000		COX Communications, Inc	5.450	12/15/14	Baa3		1,390,582
1,930,000	g	COX Enterprises, Inc	4.375	05/01/08	Baa1		1,867,993
1,410,000		Deutsche Telekom International Finance BV	8.250	06/15/30	Aa2		1,628,544
500,000		France Telecom SA	7.750	03/01/11	Baa2		537,434
1,970,000		New Cingular Wireless Services, Inc	7.875	03/01/11	Baa2		2,123,250
550,000		New Cingular Wireless Services, Inc	8.750	03/01/31	Baa2		670,766
3,750,000		Sprint Capital Corp	8.375	03/15/12	Baa3		4,146,165
750,000		Telecom Italia Capital S.A.	4.875	10/01/10	Baa2		716,561
1,500,000		Telecom Italia Capital S.A.	6.375	11/15/33	Baa2		1,353,423
3,250,000		Verizon Global Funding Corp	7.375	09/01/12	A2		3,456,785
650,000		Verizon Global Funding Corp	5.850	09/15/35	A3		562,766
1,380,000		Verizon New England, Inc	6.500	09/15/11	Aa2		1,373,305
1,660,000		Verizon New Jersey, Inc	5.875	01/17/12	Aa3		1,624,442
750,000		Verizon Virginia, Inc	4.625	03/15/13	Aa3		673,023
830,000		Verizon Wireless Capital LLC	5.375	12/15/06	A2		829,085
2,650,000		Viacom, Inc	5.750	04/30/11	Baa3		2,603,840
1,000,000		Viacom, Inc	6.875	04/30/36	Baa3		976,168
		TOTAL COMMUNICATIONS					36,525,083

367

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
DEPOSITORY INSTITUTIONS - 3.32%
$     750,000		Bank of America Corp	6.250	04/15/12	Aa2	$	767,113
1,410,000		Bank of America Corp	4.875	01/15/13	Aa2		1,337,733
2,300,000		Bank of America Corp	5.375	06/15/14	Aa2		2,228,607
4,800,000		Bank of America NA	6.000	06/15/16	Aa2		4,814,891
2,000,000		Bank One Corp	2.625	06/30/08	Aa3		1,886,768
1,200,000		Bank One Corp	5.900	11/15/11	A1		1,203,801
2,000,000		Bank One Corp	5.250	01/30/13	A1		1,920,539
1,100,000		Bank One NA	5.500	03/26/07	Aa2		1,098,548
410,000		BB&T Corp	6.500	08/01/11	A2		422,840
750,000		Capital One Bank	5.125	02/15/14	Baa2		705,531
1,500,000		Citigroup, Inc	5.125	02/14/11	Aa1		1,464,784
3,800,000		Citigroup, Inc	5.125	05/05/14	Aa1		3,619,530
2,550,000		Citigroup, Inc	5.875	02/22/33	Aa2		2,371,665
410,000		Golden West Financial Corp	4.750	10/01/12	A1		386,875
410,000		Greenpoint Financial Corp	3.200	06/06/08	Baa1		390,402
550,000		JPMorgan Chase & Co	7.875	06/15/10	A2		590,028
250,000		JPMorgan Chase & Co	4.500	01/15/12	Aa3		234,461
830,000		M&I Marshall & Ilsley Bank	4.125	09/04/07	Aa3		815,446
2,500,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3		2,390,309
650,000		MBNA America Bank NA	4.625	08/03/09	Baa1		631,139
1,100,000		Mellon Funding Corp	4.875	06/15/07	A1		1,091,716
550,000		Mellon Funding Corp	6.400	05/14/11	A2		565,214
550,000		National Westminster Bank plc	7.375	10/01/09	Aa2		577,569
550,000		PNC Funding Corp	5.750	08/01/06	A2		550,034
1,000,000		Popular North America, Inc	3.875	10/01/08	A3		956,163
1,250,000		Popular North America, Inc	5.650	04/15/09	A3		1,239,377
500,000	g	Rabobank Capital Funding Trust	5.254	12/30/49	Aa2		458,045
1,200,000		Regions Financial Corp	6.375	05/15/12	A2		1,227,338
550,000		Suntrust Bank	7.250	09/15/06	Aa3		551,514
1,500,000		Union Bank of California NA	5.950	05/11/16	A2		1,481,366
1,400,000		US Bank NA	5.700	12/15/08	Aa2		1,399,862
550,000		Wachovia Bank NA	4.850	07/30/07	Aa2		545,521
1,500,000		Wachovia Bank NA	4.800	11/01/14	Aa3		1,382,405
650,000		Wachovia Capital Trust III	5.800	12/30/49	A2		630,761
1,400,000		Wachovia Corp	5.250	08/01/14	A1		1,330,999
1,650,000		Washington Mutual Bank	4.500	08/25/08	A2		1,608,636
4,750,000		Wells Fargo & Co	4.200	01/15/10	Aa1		4,534,866
2,250,000		Wells Fargo & Co	4.875	01/12/11	Aa1		2,177,730
		TOTAL DEPOSITORY INSTITUTIONS					51,590,126
ELECTRIC, GAS, AND SANITARY SERVICES - 1.74%
1,150,000		Atmos Energy Corp	4.000	10/15/09	Baa3		1,093,345
500,000		Carolina Power & Light Co	5.700	04/01/35	NR		453,053
410,000		CenterPoint Energy Resources Corp	7.875	04/01/13	Ba1		445,977
1,650,000		Consolidated Edison Co of New York	5.375	12/15/15	A1		1,582,270
1,389,000		Consolidated Natural Gas Co	6.250	11/01/11	A3		1,415,994
500,000		Consolidated Natural Gas Co	5.000	12/01/14	A3		461,134
750,000		Consumers Energy Co	4.400	08/15/09	Baa3		716,795
2,835,000		FirstEnergy Corp	6.450	11/15/11	Baa2		2,886,265
1,500,000		Florida Power & Light Co	4.850	02/01/13	Aa3		1,423,773
1,000,000		Florida Power Corp	4.500	06/01/10	A2		962,810
550,000		FPL Group Capital, Inc	7.625	09/15/06	A2		551,939
410,000		National Fuel Gas Co	5.250	03/01/13	A3		392,221
830,000		National Rural Utilities Cooperative Finance Corp	5.750	08/28/09	A2		836,827
3,000,000		Nisource Finance Corp	5.400	07/15/14	Baa3		2,839,156

368

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
$     2,000,000	Northern States Power Co	6.250	06/01/36	A2	$	1,984,834
1,000,000	Northern States Power-Minnesota	5.250	07/15/35	A2		866,049
500,000	Ohio Power Co	5.300	11/01/10	A3		489,034
3,000,000	Pacific Gas & Electric Co	4.200	03/01/11	Baa1		2,804,974
410,000	Public Service Co of Colorado	5.500	04/01/14	Baa1		398,675
250,000	Southern California Edison Co	6.000	01/15/34	Baa2		239,742
1,150,000	Southern California Edison Co	5.350	07/15/35	A3		996,176
1,100,000	Texas Eastern Transmission Lp	5.250	07/15/07	Baa1		1,096,434
340,000	TXU Electric Delivery Co	7.250	01/15/33	Baa1		364,547
1,900,000	Virginia Electric and Power Co	4.750	03/01/13	A3		1,762,195
	TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					27,064,219
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.36%
3,150,000	Cisco Systems, Inc	5.250	02/22/11	A1		3,090,310
1,250,000	Cisco Systems, Inc	5.500	02/22/16	A1		1,197,724
550,000	Cooper Industries, Inc	5.250	07/01/07	A3		546,195
750,000	International Business Machines Corp	6.220	08/01/27	A1		750,303
	TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					5,584,532
FABRICATED METAL PRODUCTS - 0.18%
750,000	Fortune Brands, Inc	5.125	01/15/11	NR		718,253
2,000,000	Illinois Tool Works, Inc	5.750	03/01/09	Aa3		2,002,731
	TOTAL FABRICATED METAL PRODUCTS					2,720,984
FOOD AND KINDRED PRODUCTS - 0 46%
1,750,000	Anheuser-Busch Cos, Inc	4.700	04/15/12	A1		1,660,589
410,000	Bottling Group LLC	4.625	11/15/12	A3		384,646
900,000	Bunge Ltd Finance Corp	5.100	07/15/15	Baa2		818,393
1,000,000	Cia Brasileira de Bebidas	8.750	09/15/13	Baa3		1,110,630
1,100,000	Coors Brewing Co	6.375	05/15/12	Baa2		1,117,980
550,000	Kellogg Co	6.600	04/01/11	Baa1		567,317
500,000	Kraft Foods, Inc	6.500	11/01/31	A3		497,730
1,000,000	WM Wrigley Jr Co	4.650	07/15/15	NR		916,102
	TOTAL FOOD AND KINDRED PRODUCTS					7,073,387
FOOD STORES - 0.17%
1,100,000	Kroger Co	6.800	04/01/11	Baa3		1,125,356
1,000,000	Safeway, Inc	4.125	11/01/08	Baa2		960,496
550,000	Safeway, Inc	7.250	02/01/31	Baa2		558,454
	TOTAL FOOD STORES					2,644,306
FURNITURE AND FIXTURES - 0.05%
830,000	Masco Corp	4.625	08/15/07	Baa1		817,425
	TOTAL FURNITURE AND FIXTURES					817,425
GENERAL BUILDING CONTRACTORS - 0.22%
2,000,000	Centex Corp	5.250	06/15/15	Baa2		1,786,068
1,750,000	Lennar Corp	6.500	04/15/16	Baa2		1,692,086
	TOTAL GENERAL BUILDING CONTRACTORS					3,478,154
GENERAL MERCHANDISE STORES - 0.43%
1,000,000	May Department Stores Co	3.950	07/15/07	Baa2		981,851
1,500,000	Target Corp	4.000	06/15/13	A2		1,355,340
1,380,000	Wal-Mart Stores, Inc	6.875	08/10/09	Aa2		1,427,450
2,000,000	Wal-Mart Stores, Inc	4.000	01/15/10	Aa2		1,898,588

369

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     1,150,000		Wal-Mart Stores, Inc	4.125	02/15/11	Aa2	$	1,081,751
		TOTAL GENERAL MERCHANDISE STORES					6,744,980
HEALTH SERVICES - 0.06%
1,000,000		Laboratory Corp of America Holdings	5.625	12/15/15	Baa3		955,956
		TOTAL HEALTH SERVICES					955,956
HOLDING AND OTHER INVESTMENT OFFICES - 0.40%
1,000,000		Archstone-Smith Trust	5.750	03/15/16	NR		968,263
750,000		Colonial Properties Trust	6.250	06/15/14	Baa3		742,196
1,000,000		Health Care REIT, Inc	6.200	06/01/16	Baa3		957,960
2,000,000		iStar Financial, Inc	5.150	03/01/12	Baa3		1,896,185
750,000		iStar Financial, Inc	5.700	03/01/14	Ba1		723,078
1,000,000		Simon Property Group Lp	5.750	05/01/12	Baa1		990,697
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					6,278,379
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.18%
1,385,000		Dover Corp	6.500	02/15/11	A2		1,425,466
1,500,000		Dover Corp	4.875	10/15/15	A2		1,390,267
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					2,815,733
INSTRUMENTS AND RELATED PRODUCTS - 0.12%
410,000		Johnson & Johnson	3.800	05/15/13	Aaa		370,353
900,000		Medtronic, Inc	4.750	09/15/15	A1		824,909
750,000		Thermo Electron Corp	5.000	06/01/15	NR		683,811
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					1,879,073
INSURANCE CARRIERS - 0.85%
2,000,000		Aetna, Inc	6.625	06/15/36	A3		1,991,853
500,000		Allstate Corp	5.000	08/15/14	A1		470,075
2,000,000		American International Group, Inc	5.050	10/01/15	NR		1,863,949
1,000,000		ING Groep NV	5.775	12/30/49	A2		936,787
1,000,000	g	Liberty Mutual Group, Inc	6.500	03/15/35	Baa3		873,187
500,000	g	Mantis Reef Ltd	4.799	11/03/09	A3		480,067
1,150,000		Metlife, Inc	5.000	06/15/15	A2		1,064,531
750,000		Metlife, Inc	5.700	06/15/35	A2		669,833
1,500,000	g	Pricoa Global Funding I	3.900	12/15/08	Aa3		1,438,053
1,000,000		UnitedHealth Group, Inc	5.250	03/15/11	A2		975,164
1,650,000		WellPoint, Inc	5.000	01/15/11	Baa1		1,592,286
975,000		WellPoint, Inc	5.850	01/15/36	Baa1		876,275
		TOTAL INSURANCE CARRIERS					13,232,060
METAL MINING - 0.13%
500,000		Barrick Gold Finance Co	4.875	11/15/14	Baa1		460,628
900,000	g	Corp Nacional del Cobre de Chile - CODELCO	4.750	10/15/14	Aa3		822,487
750,000		Vale Overseas Ltd	6.250	01/11/16	Baa3		719,490
		TOTAL METAL MINING					2,002,605
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.16%
1,150,000	g	Controladora Mabe SA CV	6.500	12/15/15	NR		1,103,880
830,000		Harsco Corp	5.125	09/15/13	A3		794,812
500,000	d	Tyco International Group SA	5.800	08/01/06	Baa3		500,055
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES					2,398,747

370

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
MISCELLANEOUS RETAIL - 0.06%
$     1,000,000		CVS Corp	4.875	09/15/14	Baa2	$	913,979
		TOTAL MISCELLANEOUS RETAIL					913,979
MOTION PICTURES - 0.34%
1,950,000		Historic TW, Inc	6.625	05/15/29	Baa1		1,880,746
500,000		News America, Inc	7.625	11/30/28	Baa3		529,348
1,000,000		News America, Inc	6.200	12/15/34	Baa3		910,241
1,350,000		Time Warner, Inc	6.875	05/01/12	Baa1		1,393,990
550,000		Walt Disney Co	5.500	12/29/06	A3		550,040
		TOTAL MOTION PICTURES					5,264,365
NONDEPOSITORY INSTITUTIONS - 2.91%
2,000,000		American Honda Finance Corp	5.125	12/15/10	A1		1,950,788
1,250,000	g	BOI Capital Funding No. 2 LP	5.571	12/30/49	A2		1,154,074
1,500,000		Capital One Financial Corp	5.500	06/01/15	Baa3		1,420,126
1,300,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		1,227,322
2,500,000		CIT Group Funding Co of Canada	4.650	07/01/10	A2		2,394,438
500,000		CIT Group, Inc	5.125	09/30/14	A2		467,540
500,000		Countrywide Home Loans, Inc	4.000	03/22/11	A3		458,790
12,250,000		General Electric Capital Corp	6.000	06/15/12	Aaa		12,384,728
500,000		HSBC Capital Funding Lp	4.610	12/30/49	A2		449,223
2,250,000		HSBC Finance Corp	5.250	01/14/11	Aa3		2,197,816
1,000,000		HSBC Finance Corp	5.700	06/01/11	Aa3		993,243
2,500,000		HSBC Finance Corp	5.250	04/15/15	A1		2,352,229
5,550,000		HSBC Finance Corp	5.500	01/19/16	A1		5,292,747
2,250,000		International Lease Finance Corp	5.450	03/24/11	A1		2,205,000
1,500,000		John Deere Capital Corp	7.000	03/15/12	A3		1,578,151
410,000		MBNA America Bank NA	5.375	01/15/08	Baa1		408,272
1,597,000		MBNA Corp	6.125	03/01/13	Aa2		1,618,306
3,000,000		MBNA Corp	5.000	06/15/15	Aa2		2,800,609
650,000		Residential Capital Corp	6.125	11/21/08	Baa3		641,356
2,100,000		Residential Capital Corp	6.500	04/17/13	Baa3		2,056,049
500,000		SLM Corp	4.000	01/15/10	A2		472,348
690,000		Toyota Motor Credit Corp	2.875	08/01/08	Aaa		651,770
		TOTAL NONDEPOSITORY INSTITUTIONS					45,174,925
OIL AND GAS EXTRACTION - 0.85%
1,650,000		Baker Hughes, Inc	6.875	01/15/29	A2		1,768,311
900,000		BJ Services Co	5.750	06/01/11	Baa1		891,313
1,380,000		Burlington Resources Finance Co	6.400	08/15/11	A2		1,421,036
1,650,000		Burlington Resources Finance Co	7.200	08/15/31	A2		1,832,352
830,000		Devon Energy Corp	2.750	08/01/06	Baa2		828,172
750,000	g	Empresa Nacional de Petroleo ENAP	6.750	11/15/12	Baa1		774,107
410,000		Equitable Resources, Inc	5.150	11/15/12	A2		395,143
500,000		Nexen, Inc	5.050	11/20/13	Baa2		470,297
1,100,000		Ocean Energy, Inc	4.375	10/01/07	Baa3		1,078,523
500,000		PC Financial Partnership	5.000	11/15/14	Baa2		460,053
1,000,000		Pemex Project Funding Master Trust	5.750	12/15/15	Baa1		928,430
1,150,000		Petro-Canada	5.950	05/15/35	NR		1,054,566
1,400,000		XTO Energy, Inc	6.100	04/01/36	Baa3		1,271,137
		TOTAL OIL AND GAS EXTRACTION					13,173,440
OTHER MORTGAGE BACKED SECURITIES - 5.74%
3,310,000		Banc of America Commercial Mortgage, Inc Series 2002-2
		(Class A3)	5.118	07/11/43	NR		3,208,088

371

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     2,000,000		Banc of America Commercial Mortgage, Inc Series 2005-1
		(Class B)	4.999	11/10/42	NR	$	1,904,024
650,000		Banc of America Commercial Mortgage, Inc Series 2005-6 (Class
		AJ)	5.354	09/10/47	Aaa		616,869
1,000,000		Banc of America Commercial Mortgage, Inc Series 2006-2 (Class
		A4)	5.741	05/10/45			994,167
3,934,958		Banc of America Mortgage Securities Series 2006-1 (Class A8)			NR
804,152		Bank of America Alternative Loan Trust Series 2004-8 (Class	6.000	05/01/36	Aaa		3,922,396
		3A1)	5.500	09/25/19	Aaa		787,972
6,000,000	d	Bear Stearns Commercial Mortgage Securities Series 2004-PWR5
		(Class A5)	4.978	07/11/42	Aaa		5,654,010
2,000,000		Bear Stearns Commercial Mortgage Securities Series 2005-PW10
		(Class AJ)	5.614	12/11/40	Aaa		1,938,570
2,075,000		Bear Stearns Commercial Mortgage Securities Series 2006-PW11
		(Class A4)	5.625	03/11/39	NR		2,023,270
1,500,000		Bear Stearns Commercial Mortgage Securities Series 2006-PW12
		(Class A4)	5.712	09/11/38	Aaa		1,488,911
1,000,000		Bear Stearns Commercial Mortgage Securities Series 2006-T22
		(Class A4)	5.634	04/12/38	Aaa		977,881
1,865,188		Countrywide Alternative Loan Trust Series 2004-31T1 (Class A2)	5.673	09/25/34	NR		1,868,324
1,500,000		Countrywide Alternative Loan Trust Series 2005-J8 (Class 1A5)	5.500	07/25/35	Aaa		1,406,879
2,956,391		Countrywide Alternative Loan Trust Series 2006-12CB (Class
		A10)	5.673	05/25/36	Aaa		2,930,289
2,822,620		Countrywide Home Loan Mortgage Pass Through Trust Series
		2005-17 (Class 1A10)	5.250	09/25/35	NR		2,765,339
2,200,000		Credit Suisse Mortgage Capital Certificates Series 2006-C1 (Class
		A4)	5.609	02/15/39	Aaa		2,146,630
1,400,000		Credit Suisse Mortgage Capital Certificates Series 2006-C2 (Class
		A3)	5.848	03/15/39	Aaa		1,382,689
3,000,000		Credit Suisse/Morgan Stanley Commerical Mortgage Certificate
		Series HC1A (Class A1)	5.389	05/15/23	Aaa		3,000,894
932,677		CS First Boston Mortgage Securities Corp Series 2004-8
		(Class 7A1)	6.000	12/25/34	NR		922,491
1,660,000		GE Capital Commercial Mortgage Corp Series 2003-C2 (Class
		A4)	5.145	07/10/37	Aaa		1,595,104
2,000,000		Greenwich Capital Commercial Funding Corp Series 2004-GG1
		(Class A7)	5.317	06/10/36	Aaa		1,931,364
2,210,000		JP Morgan Chase Commercial Mortgage Securities Corp Series
		2003-CB6 (Class A2)	5.255	07/12/37	Aaa		2,133,724
10,000,000	d	LB-UBS Commercial Mortgage Trust Series 2004-C7 (Class A6)	4.786	10/15/29	Aaa		9,285,940
1,300,000		LB-UBS Commercial Mortgage Trust Series 2005-C3 (Class A2)	4.553	07/15/30	Aaa		1,250,161
2,000,000		LB-UBS Commercial Mortgage Trust Series 2005-C5 (Class AJ)	5.057	09/15/40	Aaa		1,874,470
1,000,000		LB-UBS Commercial Mortgage Trust Series 2006-C4 (Class A4)	5.900	06/15/38	Aaa		1,006,085
3,078,841		MASTR Alternative Loans Trust Series 2004-8 (Class 5A1)	6.000	09/25/34	NR		3,008,607
1,300,000		Merrill Lynch Mortgage Trust Series 2005-LC1 (Class A4)	5.291	01/12/44	Aaa		1,244,260
700,000		Merrill Lynch Mortgage Trust Series 2006-C1 (Class A4)	5.844	05/12/39	NR		692,791
1,400,000		Merrill Lynch/Countrywide Commercial Mortgage Trust Series
		2006-1 (Class A4)	5.620	02/12/39	NR		1,363,044
5,000,000		Morgan Stanley Capital I Series 2005-HQ5 (Class A2)	4.809	01/14/42	NR		4,856,795

372

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
$     2,000,000	Morgan Stanley Capital I Series 2006-HQ8 (Class AJ)	5.641	03/12/44	Aaa	$	1,940,694
675,000	Morgan Stanley Capital I Series 2006-T21 (Class AJ)	5.273	10/12/52	Aaa		641,884
2,000,000	Wachovia Bank Commercial Mortgage Trust Series 2005-C20
	(Class A7)	5.118	07/15/42	Aaa		1,892,392
800,000	Wachovia Bank Commercial Mortgage Trust Series 2006-C24
	(Class A3)	5.558	03/15/45	A		779,419
10,123,108	Washington Mutual, Inc Series 2003-S10 (Class A1)	4.500	10/25/18	NR		9,598,073
4,022,348	Wells Fargo Mortgage Backed Securities Trust Series 2005-1
	(Class 2A1)	5.000	01/25/20	Aaa		3,914,191
217,233	Wells Fargo Mortgage Backed Securities Trust Series 2005-5
	(Class 1A1)	5.000	05/25/20	Aaa		206,711
	TOTAL OTHER MORTGAGE BACKED SECURITIES					89,155,402
PAPER AND ALLIED PRODUCTS - 0.17%
1,000,000	Bemis Co	4.875	04/01/12	Baa1		930,298
1,660,000	Kimberly-Clark Corp	7.100	08/01/07	Aa2		1,683,744
	TOTAL PAPER AND ALLIED PRODUCTS					2,614,042
PETROLEUM AND COAL PRODUCTS - 0.10%
1,000,000	Conoco Funding Co	6.350	10/15/11	Baa1		1,024,237
550,000	ConocoPhillips	5.900	10/15/32	A1		527,575
	TOTAL PETROLEUM AND COAL PRODUCTS					1,551,812
PIPELINES, EXCEPT NATURAL GAS - 0.47%
1,000,000	Enbridge Energy Partners Lp	4.000	01/15/09	Baa2		954,213
400,000	Enterprise Products Operating Lp	4.000	10/15/07	Baa3		391,477
500,000	Enterprise Products Operating Lp	4.950	06/01/10	Baa3		480,061
750,000	Enterprise Products Operating Lp	5.600	10/15/14	Baa3		710,013
2,250,000	Kinder Morgan Finance Co ULC	5.700	01/05/16	Baa2		1,945,159
1,000,000	Plains All American Pipeline Lp	4.750	08/15/09	Ba1		966,336
550,000	Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		538,697
900,000	TransCanada Corp	5.850	03/15/36	A2		842,841
550,000	TransCanada Pipelines Ltd	4.000	06/15/13	A2		492,568
	TOTAL PIPELINES, EXCEPT NATURAL GAS					7,321,365
PRIMARY METAL INDUSTRIES - 0.13%
1,150,000	Alcan, Inc	5.000	06/01/15	NR		1,061,061
500,000	Alcan, Inc	5.750	06/01/35	Baa1		447,426
500,000	Alcoa, Inc	6.500	06/01/11	A1		514,138
	TOTAL PRIMARY METAL INDUSTRIES					2,022,625
RAILROAD TRANSPORTATION - 0.24%
1,000,000	Burlington Northern Santa Fe Corp	6.750	07/15/11	Baa2		1,040,137
550,000	Canadian National Railway Co	4.400	03/15/13	Baa1		506,575
1,050,000	Canadian National Railway Co	6.200	06/01/36	A3		1,049,080
263,000	Norfolk Southern Corp	5.590	05/17/25	Baa1		243,459
287,000	Norfolk Southern Corp	7.250	02/15/31	Baa1		318,691
500,000	Union Pacific Corp	6.500	04/15/12	Baa3		514,761
	TOTAL RAILROAD TRANSPORTATION					3,672,703
SECURITY AND COMMODITY BROKERS - 1.82%
1,500,000	Bear Stearns Cos, Inc	5.700	11/15/14	A2		1,464,020
2,150,000	Credit Suisse First Boston USA, Inc	5.250	03/02/11	Aa3		2,098,732
650,000	Goldman Sachs Group Lp	4.500	06/15/10	Aa3		620,964
2,000,000	Goldman Sachs Group, Inc	6.600	01/15/12	Aa3		2,059,689
1,000,000	Goldman Sachs Group, Inc	4.750	07/15/13	Aa3		928,601

373

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     650,000		Goldman Sachs Group, Inc	5.500	11/15/14	Aa3	$	624,328
1,750,000		Goldman Sachs Group, Inc	6.450	05/01/36	A1		1,672,746
1,900,000		Lehman Brothers Holdings, Inc	6.625	01/18/12	A1		1,963,501
1,900,000		Lehman Brothers Holdings, Inc	5.500	04/04/16	A1		1,817,083
900,000		Merrill Lynch & Co, Inc	4.790	08/04/10	Aa3		868,571
1,000,000		Merrill Lynch & Co, Inc	5.000	02/03/14	Aa3		940,369
2,300,000		Merrill Lynch & Co, Inc	6.050	05/16/16	A1		2,284,911
3,500,000		Morgan Stanley	3.625	04/01/08	A		3,382,514
3,250,000		Morgan Stanley	4.750	04/01/14	A1		2,974,704
4,458,928	g	Morgan Stanley Tracers	6.789	06/15/12	Baa1		4,578,026
		TOTAL SECURITY AND COMMODITY BROKERS					28,278,759
STONE, CLAY, AND GLASS PRODUCTS - 0.02%
280,000		CRH America, Inc	6.400	10/15/33	Baa1		269,639
		TOTAL STONE, CLAY, AND GLASS PRODUCTS					269,639
TRANSPORTATION EQUIPMENT - 0.89%
3,000,000	g	BAE Systems Holdings, Inc	6.400	12/15/11	Baa2		3,054,120
1,500,000		Boeing Capital Corp	5.800	01/15/13	A3		1,500,890
1,000,000		DaimlerChrysler NA Holding Corp	5.875	03/15/11	NR		983,658
410,000		DaimlerChrysler NA Holding Corp	6.500	11/15/13	A3		409,523
500,000		General Dynamics Corp	3.000	05/15/08	A2		476,555
550,000		Lockheed Martin Corp	8.500	12/01/29	Baa2		691,824
410,000		Northrop Grumman Corp	7.750	02/15/31	Baa3		480,041
3,550,000		United Technologies Corp	4.875	11/01/06	A2		3,541,349
1,100,000		United Technologies Corp	6.350	03/01/11	A2		1,125,726
1,500,000		United Technologies Corp	6.050	06/01/36	A2		1,468,233
		TOTAL TRANSPORTATION EQUIPMENT					13,731,919
WHOLESALE TRADE-NONDURABLE GOODS - 0.34%
280,000		Colgate-Palmolive Co	6.450	06/16/28	Aa3		297,026
2,900,000		Procter & Gamble Co	4.950	08/15/14	Aa3		2,754,827
2,500,000		Sysco Corp	5.375	09/21/35	A1		2,224,185
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					5,276,038
		TOTAL CORPORATE BONDS					453,009,476
		(Cost $467,882,601)
GOVERNMENT BONDS - 68.87%
AGENCY SECURITIES - 21.80%
3,946,684		Cal Dive International, Inc	4.930	02/01/27	NR		3,638,330
2,500,000		Federal Farm Credit Bank (FFCB)	3.375	07/15/08	Aaa		2,401,702
2,500,000		FFCB	4.125	04/15/09	NR		2,417,177
4,000,000		FFCB	5.375	07/18/11	Aaa		3,988,476
2,500,000		FFCB	4.875	12/16/15	NR		2,383,561
12,105,000		Federal Home Loan Mortgage Corp (FHLMC)	3.750	04/15/07	Aaa		11,939,440
23,530,000		FHLMC	4.625	06/01/07	Aaa		23,338,108
1,900,000		FHLMC	4.000	08/17/07	Aaa		1,868,487
13,000,000		FHLMC	4.375	11/16/07	Aaa		12,810,831
15,000,000		FHLMC	4.830	11/28/07	Aaa		14,994,300
18,000,000		FHLMC	4.625	02/21/08	Aaa		17,764,121
2,665,000		FHLMC	3.500	03/24/08	Aaa		2,576,835
7,000,000		FHLMC	5.125	04/18/08	NR		6,961,217
6,000,000		FHLMC	3.500	04/28/08	Aaa		5,796,558
6,500,000		FHLMC	3.600	05/22/08	Aaa		6,280,383

374

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     4,000,000		FHLMC	4.625	09/15/08	Aaa	$	3,928,132
1,500,000		FHLMC	3.750	02/27/09	Aaa		1,431,857
5,000,000		FHLMC	5.250	05/21/09	NR		4,974,945
17,100,000		FHLMC	7.000	03/15/10	Aaa		17,959,010
4,146,000		FHLMC	4.125	07/12/10	NR		3,945,861
3,200,000		FHLMC	4.750	01/18/11	Aaa		3,107,766
20,248,000		FHLMC	5.875	03/21/11	Aa2		20,440,822
3,000,000		FHLMC	5.125	04/18/11	NR		2,954,493
10,000,000		FHLMC	5.250	07/18/11	NR		9,897,983
3,870,000		FHLMC	6.375	08/01/11	Aa2		3,873,096
25,000,000		FHLMC	6.250	03/05/12	Aaa		25,034,608
1,000,000		FHLMC	4.375	07/17/15	NR		920,794
2,750,000		FHLMC	8.250	06/01/16	NR		3,264,608
4,000,000		FHLMC	5.750	06/27/16	Aa2		3,989,908
6,500,000		Federal National Mortgage Association (FNMA)	4.750	01/02/07	Aa2		6,471,998
2,750,000		FNMA	3.375	05/15/07	Aaa		2,700,046
4,000,000		FNMA	3.750	08/15/07	Aaa		3,924,048
3,375,000		FNMA	4.450	04/11/08	Aaa		3,315,503
9,000,000		FNMA	4.125	06/16/08	NR		8,767,361
10,000,000		FNMA	3.660	02/25/09	Aaa		9,540,611
2,000,000		FNMA	5.210	03/16/09	Aaa		1,980,284
42,250,000		FNMA	7.125	06/15/10	Aaa		44,674,330
2,000,000		FNMA	6.625	11/15/10	Aaa		2,087,910
4,000,000		FNMA	5.800	06/07/11	Aaa		3,983,499
5,000,000		FNMA	4.125	01/30/12	Aaa		4,665,020
10,000,000		FNMA	5.250	08/01/12	Aa2		9,773,683
5,000,000		FNMA	6.470	09/25/12	Aaa		5,238,250
1,000,000	d	FNMA	6.210	08/06/38	Aaa		1,085,257
4,000,000		Private Export Funding Corp	4.950	11/15/15	Aaa		3,803,225
1,687,500		Totem Ocean Trailer Express, Inc	4.514	12/18/19	NR		1,582,217
		TOTAL AGENCY SECURITIES					338,476,651
FOREIGN GOVERNMENT BONDS - 3.62%
500,000		African Development Bank	3.250	08/01/08	Aaa		478,614
1,500,000		Asian Development Bank/Pasig	4.125	09/15/10	Aaa		1,428,801
280,000		Canada Government International Bond	6.750	08/28/06	Aaa		280,594
2,500,000		Canada Mortgage & Housing Corp	4.800	10/01/10	Aaa		2,443,628
410,000		Chile Government International Bond	5.500	01/15/13	Baa1		402,985
1,650,000		China Development Bank	5.000	10/15/15	A2		1,540,638
900,000		Development Bank of Japan	4.250	06/09/15	Aaa		814,938
6,000,000		Egypt Government AID Bonds	4.450	09/15/15	Aaa		5,569,559
3,250,000		Eksportfinans A/S	5.500	05/25/16	Aaa		3,218,455
500,000		European Investment Bank	5.250	06/15/11	Aaa		496,981
900,000		European Investment Bank	4.875	02/15/36	Aaa		798,471
2,500,000		Federal Republic of Germany	3.875	06/01/10	Aaa		2,381,703
3,000,000		International Finance Corp	5.125	05/02/11	Aaa		2,965,073
2,000,000		Italy Government International Bond	4.500	01/21/15	Aa2		1,848,353
410,000		Korea Development Bank	5.750	09/10/13	A3		404,801
1,000,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		994,919
2,600,000		Kreditanstalt fuer Wiederaufbau	5.125	03/14/16	Aaa		2,523,725
1,200,000		Landwirtschaftliche Rentenbank	5.250	07/15/11	Aaa		1,187,382
242,000		Mexico Government International Bond	6.375	01/16/13	Baa1		244,013
966,000		Mexico Government International Bond	5.875	01/15/14	Baa1		939,213
3,150,000		Mexico Government International Bond	5.625	01/15/17	Baa1		2,949,408
550,000		Mexico Government International Bond	8.300	08/15/31	Baa1		633,875
1,500,000		Mexico Government International Bond	6.750	09/27/34	Baa1		1,458,750

375

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     2,000,000		Oesterreichische Kontrollbank AG.	4.875	02/16/16	Aaa	$	1,904,776
5,000,000		Province of Manitoba Canada	4.450	04/12/10	Aa2		4,836,045
2,500,000		Province of Ontario	2.650	12/15/06	Aa2		2,468,908
550,000		Province of Ontario	5.500	10/01/08	Aa2		550,404
1,500,000		Province of Ontario	4.750	01/19/16	Aa2		1,407,856
5,300,000		Province of Quebec Canada	5.000	03/01/16	A1		5,019,814
1,380,000		Province of Quebec Canada	7.500	09/15/29	Aa3		1,663,743
2,000,000		Province of Saskatchewan Canada	8.000	02/01/13	A3		2,267,196
		TOTAL FOREIGN GOVERNMENT BONDS					56,123,621
MORTGAGE BACKED SECURITIES - 31.25%
5,000,000	v	Fannie Mae Benchmark REMIC	6.000	06/25/16			4,984,766
3,000,000		Federal Home Loan Mortgage Corp (FHLMC)	5.000	06/15/29			2,904,468
913,651		FHLMC	6.000	04/15/30			912,834
1,725,838		FHLMC	6.000	12/15/30			1,728,445
6,000,000		FHLMC	5.000	06/15/31			5,716,062
978,301		FHLMC	5.500	09/15/32			920,914
1,500,000		FHLMC	5.500	05/15/33			1,437,302
2,857,594		FHLMC	4.500	09/15/35			2,689,045
86,222		Federal Home Loan Mortgage Corp Gold (FGLMC)	7.500	01/01/16			89,797
7,766		FGLMC	7.500	05/01/16			8,088
11,392		FGLMC	7.500	06/01/16			11,879
4,723,569		FGLMC	4.500	09/01/18			4,467,760
4,759,832		FGLMC	4.500	01/01/19			4,499,374
8,449,589		FGLMC	4.500	05/01/19			7,987,228
6,154,937		FGLMC	5.000	05/01/20			5,925,881
108,963		FGLMC	7.000	10/01/20			111,991
13,127		FGLMC	6.500	10/01/28			13,270
159,794	d	FGLMC	6.500	01/01/29			161,524
26,096		FGLMC	6.500	03/01/29			26,379
65,122		FGLMC	6.500	07/01/29			65,835
34,803		FGLMC	8.000	01/01/31			36,712
179,850	d	FGLMC	6.500	09/01/31			181,603
201,377		FGLMC	8.000	09/01/31			212,327
26,843		FGLMC	7.000	10/01/31			27,514
1,582,153		FGLMC	7.000	12/01/31			1,621,356
6,104,621		FGLMC	6.000	03/01/33			6,033,076
1,883,990		FGLMC	6.000	03/01/33			1,861,910
1,087,122		FGLMC	6.000	03/01/33			1,073,628
6,643,923		FGLMC	5.000	09/01/33			6,234,672
3,081,696		FGLMC	5.500	09/01/33			2,972,999
3,512,736		FGLMC	5.500	09/01/33			3,388,836
2,599,688		FGLMC	5.500	09/01/33			2,507,992
3,923,438		FGLMC	5.500	10/01/33			3,785,051
12,596,272		FGLMC	5.500	12/01/33			12,149,747
10,546,924		FGLMC	5.000	01/01/34			9,897,255
1,818,573		FGLMC	5.500	12/01/34			1,751,334
8,244,144		FGLMC	4.500	04/01/35			7,497,934
3,999,119		FGLMC	6.000	05/01/35			3,939,921
3,273,036		FGLMC	6.000	07/01/35			3,224,586
2,475,204		FGLMC	6.000	08/01/35			2,438,564
1,839,801		FGLMC	5.000	10/01/35			1,719,529
5,241,466		FGLMC	5.000	11/01/35			4,898,816
2,441,636		FGLMC	7.000	01/01/36			2,498,847
1,935,377		FGLMC	6.000	01/01/36			1,905,803
1,507,080		FGLMC	6.500	05/01/36			1,516,076

376

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$     140,262		Federal National Mortgage Association (FNMA)	5.000	06/01/13	$	136,403
2,877,395		FNMA	4.440	07/01/13		2,684,106
72,154		FNMA	6.000	09/01/13		72,411
3,653,860		FNMA	4.735	10/01/13		3,464,017
56,563		FNMA	6.500	12/01/13		57,341
3,331,204		FNMA	4.777	02/01/14		3,165,031
37,301		FNMA	6.000	06/01/14		37,420
7,048		FNMA	6.500	07/01/14		7,146
6,846,827		FNMA	4.640	11/01/14		6,401,517
13,364,782		FNMA	4.810	03/01/16		12,903,703
121,799		FNMA	6.500	10/01/16		123,556
948,597	d	FNMA	6.500	11/01/16		962,275
677,351	d	FNMA	6.500	04/01/17		687,173
721,798		FNMA	5.500	04/01/18		709,562
209,335		FNMA	5.500	05/01/18		205,786
2,954,100		FNMA	4.500	10/01/18		2,798,688
6,564,920	d	FNMA	5.000	11/01/18		6,336,829
441,381		FNMA	6.000	01/01/19		440,072
709,911		FNMA	4.500	05/01/19		671,870
21,000,000	h	FNMA	5.000	07/25/21		20,219,052
1,429,665		FNMA	5.000	11/01/23		1,359,366
1,248,210		FNMA	5.500	02/01/24		1,215,246
723,205		FNMA	5.500	07/01/24		702,987
6,451		FNMA	8.000	07/01/24		6,813
9,077,310		FNMA	5.000	03/01/25		8,597,247
19,524,973		FNMA	5.000	10/01/25		18,492,376
3,819		FNMA	7.500	01/01/29		3,964
13,893		FNMA	6.500	04/01/29		14,035
17,965		FNMA	7.500	07/01/29		18,626
3,848		FNMA	7.500	07/01/29		3,990
5,340		FNMA	7.500	02/01/31		5,533
27,991		FNMA	7.500	03/01/31		29,000
11,335		FNMA	7.500	05/01/31		11,744
24,811		FNMA	6.500	09/01/31		25,038
23,918		FNMA	6.500	10/01/31		24,136
156,905		FNMA	6.500	11/01/31		158,336
282,449		FNMA	6.000	01/01/32		279,213
796,547		FNMA	5.000	02/01/33		748,198
4,518,004		FNMA	5.000	02/01/33		4,244,277
4,000,000		FNMA	4.500	03/25/33		3,786,224
1,153,285		FNMA	5.500	07/01/33		1,112,575
2,259,426		FNMA	4.500	08/01/33		2,058,789
1,833,090		FNMA	5.000	08/01/33		1,721,824
1,500,000		FNMA	5.500	08/25/33		1,451,853
2,055,049		FNMA	5.500	09/01/33		1,982,506
1,539,151		FNMA	5.500	09/01/33		1,484,819
3,953,160		FNMA	4.500	10/01/33		3,602,120
2,172,595		FNMA	5.000	10/01/33		2,040,721
2,127,382		FNMA	5.000	10/01/33		1,998,252
5,184,291		FNMA	5.500	10/01/33		5,001,286
7,853,855	d	FNMA	5.500	10/01/33		7,576,615
8,653,699		FNMA	5.000	11/01/33		8,128,428
5,866,829	d	FNMA	5.500	12/01/33		5,659,730
9,321,519		FNMA	6.000	02/01/34		9,203,248
784,915		FNMA	5.000	03/01/34		737,272
1,062,214		FNMA	5.000	03/01/34		997,739

377

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$     2,128,615		FNMA	5.000	03/01/34	$	1,999,411
699,233		FNMA	5.000	03/01/34		656,791
5,408,647		FNMA	4.350	03/25/34		5,135,251
5,989,771		FNMA	5.000	04/01/34		5,616,950
3,191,726		FNMA	5.500	09/01/34		3,073,799
13,865,653		FNMA	5.500	09/01/34		13,353,345
600,000		FNMA	5.500	10/25/34		570,988
1,806,129		FNMA	6.000	11/01/34		1,781,252
1,809,922		FNMA	5.500	01/01/35		1,743,049
17,202,107		FNMA	5.000	02/25/35		16,656,164
6,437,091		FNMA	5.500	04/01/35		6,187,152
4,459,279		FNMA	6.000	05/01/35		4,392,502
2,110,649		FNMA	5.500	05/01/35		2,028,697
358,835		FNMA	7.500	06/01/35		371,046
5,229,235		FNMA	5.500	10/01/35		5,026,195
4,624,132		FNMA	5.000	10/01/35		4,325,298
1,570,124		FNMA	5.000	11/01/35		1,460,608
1,014,051		FNMA	5.500	12/01/35		974,678
5,755,669		FNMA	6.000	12/01/35		5,669,478
1,212,081		FNMA	5.000	02/01/36		1,127,539
1,372,279		FNMA	5.000	02/01/36		1,276,562
6,378,008		FNMA	6.500	02/01/36		6,412,406
10,179,889		FNMA	6.000	03/01/36		10,021,145
5,993,660		FNMA	5.500	04/01/36		5,727,317
3,567,490		FNMA	6.500	04/01/36		3,586,555
5,487,352		FNMA	6.500	04/01/36		5,516,676
8,909,213		FNMA	5.000	05/01/36		8,287,796
1,000,000	h	FNMA	6.000	06/01/36		984,406
10,250,000	h	FNMA	6.000	06/01/36		10,090,162
9,000,000	h	FNMA	6.000	07/25/36		8,856,558
3,000,000	h	FNMA	6.500	07/25/36		3,015,000
777		Government National Mortgage Association (GNMA)	7.000	01/15/28		802
5,154		GNMA	7.000	02/15/28		5,317
16,975		GNMA	6.500	05/15/28		17,238
2,242		GNMA	7.000	06/15/28		2,314
4,791		GNMA	7.000	06/15/28		4,944
106,962		GNMA	6.500	09/15/28		108,616
21,181		GNMA	6.500	09/15/28		21,508
11,666		GNMA	7.500	11/15/28		12,207
49,955		GNMA	6.500	11/15/28		50,728
23,210		GNMA	7.500	07/15/29		24,275
5,788		GNMA	8.500	07/15/30		6,216
3,154		GNMA	8.500	07/15/30		3,388
51,232		GNMA	8.500	10/15/30		55,017
63,788		GNMA	8.500	10/20/30		68,245
8,283		GNMA	8.500	12/15/30		8,895
13,758		GNMA	7.000	06/20/31		14,101
44,503		GNMA	7.000	07/15/31		45,916
55,595		GNMA	7.000	07/15/31		57,360
30,631		GNMA	6.500	07/15/31		31,056
94,310		GNMA	7.500	02/15/32		98,565
5,151		GNMA	6.500	03/15/33		5,219
4,493,971		GNMA	5.500	09/15/33		4,361,390
1,939,799		GNMA	5.500	02/20/35		1,873,216
13,343,182		GNMA	5.000	03/20/35		12,553,145
13,423,387		GNMA	5.500	05/20/35		12,962,630

378

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$     5,191,179		GNMA	5.500	02/20/36	$	5,011,513
13,000,000	h	GNMA	5.000	07/15/36		12,301,250
5,000,000	h	GNMA	6.000	07/20/36		4,957,810
		TOTAL MORTGAGE BACKED SECURITIES				485,194,671
U.S. TREASURY SECURITIES - 12.20%
79,016,000		United States Treasury Bond	8.000	11/15/21		101,074,107
11,975,000		United States Treasury Bond	5.375	02/15/31		12,186,478
4,450,087	k	United States Treasury Inflation Indexed Bonds	3.375	01/15/07		4,461,568
3,684,930	k	United States Treasury Inflation Indexed Bonds	3.875	01/15/09		3,816,777
2,126,666	k	United States Treasury Inflation Indexed Bonds	0.875	04/15/10		2,005,893
450,000		United States Treasury Note	2.500	09/30/06		447,084
11,925,000		United States Treasury Note	2.625	11/15/06		11,809,924
1,140,000		United States Treasury Note	3.000	12/31/06		1,127,221
1,650,000		United States Treasury Note	2.250	02/15/07		1,619,392
700,000		United States Treasury Note	4.250	10/31/07		691,278
16,000,000		United States Treasury Note	4.375	01/31/08		15,800,000
5,000,000		United States Treasury Note	4.875	04/30/08		4,972,850
9,000,000		United States Treasury Note	4.875	05/31/08		8,949,690
4,000,000		United States Treasury Note	3.125	09/15/08		3,833,520
2,800,000		United States Treasury Note	4.875	05/15/09		2,780,960
11,550,000		United States Treasury Note	4.875	04/30/11		11,431,266
940,000		United States Treasury Note	4.875	05/31/11		930,515
480,000		United States Treasury Note	4.500	02/15/16		456,725
1,070,000		United States Treasury Note	5.125	05/15/16		1,068,834
		TOTAL U.S. TREASURY SECURITIES				189,464,082
		TOTAL GOVERNMENT BONDS				1,069,259,025
		(Cost $1,102,375,112)
		TOTAL BONDS				1,522,268,501
		(Cost $1,570,257,713)
SHORT-TERM INVESTMENTS - 5.04%
COMMERICAL PAPER - 1.33%
5,000,000	c,d	Calyon	4.870	08/28/06		4,958,650
5,000,000		Links Finance LLC	5.240	07/10/06		4,994,800
5,000,000		Rabobank USA Finance Corp	5.240	07/03/06		5,000,000
760,000		Scaldis Capital LLC	4.920	09/12/06		751,898
5,000,000		UBS Finance, (Delaware), Inc	5.270	07/03/06		4,997,804
		TOTAL COMMERICAL PAPER				20,703,152
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 3.71%
5,520,000	d	Federal Home Loan Bank (FHLB)	5.060	07/06/06		5,517,627
15,000,000		FHLB	4.900	07/07/06		14,991,450
14,955,000	d	FHLB	5.120	07/12/06		14,935,708
22,065,000		Federal National Mortgage Association (FNMA)	4.950	07/05/06		22,058,601
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT				57,503,386
		NOTES
		TOTAL SHORT-TERM INVESTMENTS				78,206,538
		(Cost $78,191,407)

379

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Institutional Bond Fund
		ISSUER		VALUE
		TOTAL PORTFOLIO - 103.09%	$	1,600,475,039
		(Cost $1,648,449,120)
		OTHER ASSETS & LIABILITIES, NET - (3.09)%		(48,017,939	)
		NET ASSETS - 100.00%	$	1,552,457,100
	+	As provided by Moody's Investors Service (unaudited).
	c	Commercial Paper issued under the Private Placement exemption under Section 4(2) of the Securities Act of 1933.
	d	All or a portion of these securities have been segregated by the custodian to cover securities purchased on a delayed delivery basis.
	g	Security is exempt from registration under Rule 144 (A) of the Securities Act of 1933 and may be resold in transactions
		from registration to qualified institutional buyers.
		At June 30, 2006, the value of these securities amounted to $16,604,039 or 1.07% of net assets.
	h	These securities were purchased on a delayed delivery basis.
	k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	v	Security valued at fair value.
		ABBREVIATION:
		NR - Not Rated
		For ease of presentation, we have grouped a number of industry classification categories together in the
		Statement of Investments. Note that the Funds use more specific industry categories in following
		their investment limitations on industry concentration.

380

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus II Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
BOND PLUS II FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING +		VALUE
BONDS - 97.37%
CORPORATE BONDS - 30.86%
AMUSEMENT AND RECREATION SERVICES - 0.09%
$     50,000		Harrah's Operating Co, Inc	0.650%	06/01/16	Baa3	$	48,759
		TOTAL AMUSEMENT AND RECREATION SERVICES					48,759
ASSET BACKED - 5.74%
490,829		CIT Group Home Equity Loan Trust Series 2002-2 (Class MF2)	6.390	12/25/30	A2		488,320
125,000	v	Long Beach Asset Holdings Corp Series 2006-4 (Class N1)	5.877	06/25/46	NR		125,000
500,000		Marriott Vacation Club Owner Trust Series 2006-1A (Class A)	5.737	04/20/28	Aaa		497,513
1,000,000		Residential Funding Mortgage Securities II, Inc Series 2006-H12 (Class
		A3)	5.790	02/25/36	Aaa		993,440
500,000		Saxon Asset Securities Trust Series 2002-2 (Class AF6)	5.620	11/25/30	Aaa		497,457
500,000	h,v	Sierra Receivables Funding Co Series 2006-1A (Class A1)	5.840	05/20/18	Aaa		499,950
		TOTAL ASSET BACKED					3,101,680
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.32%
150,000		Home Depot, Inc	5.400	03/01/16	Aa3		143,797
25,000		Lowe's Cos, Inc	8.250	06/01/10	A2		27,191
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					170,988
CHEMICALS AND ALLIED PRODUCTS - 0.36%
100,000		Abbott Laboratories	5.600	05/15/11	Aa3		99,409
50,000		Lubrizol Corp	4.625	10/01/09	Baa3		47,768
50,000		Lubrizol Corp	5.500	10/01/14	Baa3		46,875
		TOTAL CHEMICALS AND ALLIED PRODUCTS					194,052
COMMUNICATIONS - 2.12%
25,000		America Movil S.A. de C.V.	6.375	03/01/35	A3		21,976
50,000		AT&T, Inc	5.100	09/15/14	A2		46,383
25,000		AT&T, Inc	6.150	09/15/34	A2		22,952
75,000		Comcast Cable Communications Holdings, Inc	8.375	03/15/13	Baa3		83,228
50,000		Comcast Corp	5.900	03/15/16	Baa2		48,003
25,000		Comcast Corp	5.650	06/15/35	NR		21,253
50,000		Comcast Corp	6.500	11/15/35	Baa2		47,217
25,000		COX Communications, Inc	4.625	06/01/13	Baa2		22,422
50,000		COX Communications, Inc	5.450	12/15/14	Baa3		46,353
25,000		Deutsche Telekom International Finance BV	8.250	06/15/30	Aa2		28,875
25,000		France Telecom SA	7.750	03/01/11	Baa2		26,872
25,000		New Cingular Wireless Services, Inc	7.875	03/01/11	Baa2		26,945
25,000		New Cingular Wireless Services, Inc	8.750	03/01/31	Baa2		30,489
50,000		Rogers Cable, Inc	6.750	03/15/15	Ba3		47,625
50,000		Rogers Wireless, Inc	7.500	03/15/15	Ba3		50,500
175,000		Sprint Capital Corp	8.375	03/15/12	Baa3		193,488
25,000		Telecom Italia Capital S.A.	4.875	10/01/10	Baa2		23,885
50,000		Telecom Italia Capital S.A.	6.375	11/15/33	Baa2		45,114
25,000		Verizon Global Funding Corp	7.375	09/01/12	A2		26,591
25,000		Verizon Global Funding Corp	5.850	09/15/35	A3		21,645
200,000		Verizon New Jersey, Inc	5.875	01/17/12	Aa3		195,716

381

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus II Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING +		VALUE
$     25,000		Verizon Virginia, Inc	4.625	03/15/13	Aa3	$	22,434
50,000		Viacom, Inc	6.875	04/30/36	Baa3		48,808
		TOTAL COMMUNICATIONS					1,148,774
DEPOSITORY INSTITUTIONS - 2.84%
25,000		Bank of America Corp	6.250	04/15/12	Aa2		25,570
50,000		Bank of America Corp	4.875	01/15/13	Aa2		47,437
100,000		Bank of America Corp	5.375	06/15/14	Aa2		96,896
100,000		Bank of America NA	6.000	06/15/16	Aa2		100,310
25,000		Bank One Corp	5.900	11/15/11	A1		25,079
25,000		Bank One Corp	5.250	01/30/13	A1		24,007
25,000		BB&T Corp	6.500	08/01/11	A2		25,783
25,000		Capital One Bank	5.125	02/15/14	Baa2		23,518
50,000		Citigroup, Inc	5.125	02/14/11	Aa1		48,826
250,000		Citigroup, Inc	5.125	05/05/14	Aa1		238,127
50,000		Citigroup, Inc	5.875	02/22/33	Aa2		46,503
50,000		JPMorgan Chase & Co	7.875	06/15/10	A2		53,639
25,000		JPMorgan Chase & Co	4.500	01/15/12	Aa3		23,446
100,000		Mellon Funding Corp	6.400	05/14/11	A2		102,766
50,000		National City Bank of Indiana	4.875	07/20/07	Aa3		49,581
25,000	g	Rabobank Capital Funding Trust	5.254	12/30/49	Aa2		22,902
50,000		Regions Financial Corp	6.375	05/15/12	A2		51,139
100,000		Union Bank of California NA	5.950	05/11/16	A2		98,758
50,000		US Bank NA	5.700	12/15/08	Aa2		49,995
75,000		Wachovia Bank NA	4.800	11/01/14	Aa3		69,120
25,000		Wachovia Capital Trust III	5.800	12/30/49	A2		24,260
75,000		Wachovia Corp	5.250	08/01/14	A1		71,304
50,000		Washington Mutual Bank	4.500	08/25/08	A2		48,747
175,000		Wells Fargo & Co	4.200	01/15/10	Aa1		167,074
		TOTAL DEPOSITORY INSTITUTIONS					1,534,787
ELECTRIC, GAS, AND SANITARY SERVICES - 2.20.%
50,000		Atmos Energy Corp	4.000	10/15/09	Baa3		47,537
190,000		Carolina Power & Light Co	5.125	09/15/13	A3		179,857
25,000		Carolina Power & Light Co	5.700	04/01/35	NR		22,653
50,000		CenterPoint Energy Resources Corp	7.875	04/01/13	Ba1		54,387
25,000		Consolidated Edison Co of New York	5.375	12/15/15	A1		23,974
75,000		Consolidated Natural Gas Co	6.250	11/01/11	A3		76,458
25,000		Consolidated Natural Gas Co	5.000	12/01/14	A3		23,057
25,000		Consumers Energy Co	4.400	08/15/09	Baa3		23,893
100,000		FirstEnergy Corp	6.450	11/15/11	Baa2		101,808
50,000		Florida Power & Light Co	4.850	02/01/13	Aa3		47,459
50,000		Florida Power Corp	4.500	06/01/10	A2		48,141
50,000		National Rural Utilities Cooperative Finance Corp	5.750	08/28/09	A2		50,411
200,000		Northern States Power Co	6.250	06/01/36	A2		198,483
100,000		Pacific Gas & Electric Co	4.200	03/01/11	Baa1		93,499
25,000		Public Service Co of Colorado	5.500	04/01/14	Baa1		24,309
25,000		Southern California Edison Co	5.350	07/15/35	A3		21,656
50,000		Texas Eastern Transmission Lp	5.250	07/15/07	Baa1		49,838
25,000		Virginia Electric and Power Co	4.750	03/01/13	A3		23,187
25,000		Waste Management, Inc	7.750	05/15/32	Ba1		28,385
50,000		Westar Energy, Inc	6.000	07/01/14	Baa2		49,505
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					1,188,497
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.23%
100,000		Cisco Systems, Inc	5.250	02/22/11	A1		98,105
25,000		Cisco Systems, Inc	5.500	02/22/16	A1		23,954
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					122,059

382

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus II Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING +		VALUE
FABRICATED METAL PRODUCTS - 0.09%
$     25,000		Fortune Brands, Inc	5.125	01/15/11	NR	$	23,942
25,000		Fortune Brands, Inc	4.875	12/01/13	A2		22,860
		TOTAL FABRICATED METAL PRODUCTS					46,802
FOOD AND KINDRED PRODUCTS - 0.32%
25,000		Anheuser-Busch Cos, Inc	4.700	04/15/12	A1		23,722
25,000		Bottling Group LLC	4.625	11/15/12	A3		23,454
50,000		Coors Brewing Co	6.375	05/15/12	Baa2		50,817
50,000		Kraft Foods, Inc	6.500	11/01/31	A3		49,773
25,000		WM Wrigley Jr Co	4.650	07/15/15	NR		22,903
		TOTAL FOOD AND KINDRED PRODUCTS					170,669
FOOD STORES - 0.18%
50,000		Kroger Co	6.800	04/01/11	Baa3		51,152
50,000		Safeway, Inc	4.125	11/01/08	Baa2		48,025
		TOTAL FOOD STORES					99,177
GENERAL BUILDING CONTRACTORS - 0.30%
75,000		Centex Corp	5.250	06/15/15	Baa2		66,978
50,000		DR Horton, Inc	6.500	04/15/16	Baa3		47,942
50,000		Lennar Corp	6.500	04/15/16	Baa2		48,345
		TOTAL GENERAL BUILDING CONTRACTORS					163,265
GENERAL MERCHANDISE STORES - 0.30%
50,000		Target Corp	4.000	06/15/13	A2		45,178
50,000		Wal-Mart Stores, Inc	4.000	01/15/10	Aa2		47,465
75,000		Wal-Mart Stores, Inc	4.125	02/15/11	Aa2		70,549
		TOTAL GENERAL MERCHANDISE STORES					163,192
HOLDING AND OTHER INVESTMENT OFFICES - 0.40%
25,000		Archstone-Smith Trust	5.750	03/15/16	NR		24,206
25,000		Colonial Properties Trust	6.250	06/15/14	Baa3		24,740
50,000		Health Care REIT, Inc	6.200	06/01/16	Baa3		47,898
50,000		iStar Financial, Inc	5.150	03/01/12	Baa3		47,405
25,000		iStar Financial, Inc	5.700	03/01/14	Ba1		24,102
50,000		Simon Property Group Lp	5.750	05/01/12	Baa1		49,535
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					217,886
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.04%
25,000		Dover Corp	4.875	10/15/15	A2		23,171
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					23,171
INSTRUMENTS AND RELATED PRODUCTS - 0.13%
25,000		Johnson & Johnson	3.800	05/15/13	Aaa		22,582
25,000		Medtronic, Inc	4.750	09/15/15	A1		22,914
25,000		Thermo Electron Corp	5.000	06/01/15	NR		22,794
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					68,290
INSURANCE CARRIERS - 0.83%
50,000		Aetna, Inc	6.625	06/15/36	A3		49,796
25,000		Allstate Corp	5.000	08/15/14	A1		23,504
50,000		American International Group, Inc	5.050	10/01/15	NR		46,599
25,000		ING Groep NV	5.775	12/30/49	A2		23,420
25,000	g	Liberty Mutual Group, Inc	6.500	03/15/35	Baa3		21,830
50,000		Metlife, Inc	5.000	06/15/15	A2		46,284
25,000		Metlife, Inc	5.700	06/15/35	A2		22,328

383

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus II Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING +		VALUE
$     150,000		UnitedHealth Group, Inc	5.250	03/15/11	A2	$	146,274
50,000		WellPoint, Inc	5.000	01/15/11	Baa1		48,251
25,000		WellPoint, Inc	5.850	01/15/36	Baa1		22,468
		TOTAL INSURANCE CARRIERS					450,754
METAL MINING - 0.08%
25,000		Barrick Gold Finance Co	4.875	11/15/14	Baa1		23,031
25,000	g	Corp Nacional del Cobre de Chile - CODELCO	4.750	10/15/14	Aa3		22,847
		TOTAL METAL MINING					45,878
MISCELLANEOUS RETAIL - 0.08%
50,000		CVS Corp	4.875	09/15/14	Baa2		45,699
		TOTAL MISCELLANEOUS RETAIL					45,699
MOTION PICTURES - 0.49%
25,000		Historic TW, Inc	6.625	05/15/29	Baa1		24,112
125,000		News America, Inc	6.200	12/15/34	Baa3		113,780
125,000		Time Warner, Inc	6.875	05/01/12	Baa1		129,073
		TOTAL MOTION PICTURES					266,965
NONDEPOSITORY INSTITUTIONS - 4.11%
50,000		American Honda Finance Corp	5.125	12/15/10	A1		48,770
50,000	g	BOI Capital Funding No. 2 LP	5.571	12/30/49	A2		46,163
50,000		Capital One Financial Corp	5.500	06/01/15	Baa3		47,337
50,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		47,205
75,000		CIT Group Funding Co of Canada	4.650	07/01/10	A2		71,833
25,000		CIT Group, Inc	5.125	09/30/14	A2		23,377
25,000		Countrywide Home Loans, Inc	4.000	03/22/11	A3		22,939
500,000		General Electric Capital Corp	6.000	06/15/12	Aaa		505,499
25,000		HSBC Capital Funding Lp	4.610	12/30/49	A2		22,461
150,000		HSBC Finance Corp	5.250	01/14/11	Aa3		146,521
500,000		HSBC Finance Corp	5.700	06/01/11	Aa3		496,621
50,000		HSBC Finance Corp	5.250	04/15/15	A1		47,045
125,000		HSBC Finance Corp	5.500	01/19/16	A1		119,206
25,000		John Deere Capital Corp	7.000	03/15/12	A3		26,303
25,000		MBNA America Bank NA	5.375	01/15/08	Baa1		24,895
25,000		MBNA Corp	6.125	03/01/13	Aa2		25,334
100,000		MBNA Corp	5.000	06/15/15	Aa2		93,354
50,000		Residential Capital Corp	6.125	11/21/08	Baa3		49,335
100,000		Residential Capital Corp	6.500	04/17/13	Baa3		97,907
250,000		SLM Corp	4.000	01/15/10	A2		236,174
25,000		Toyota Motor Credit Corp	2.875	08/01/08	Aaa		23,615
		TOTAL NONDEPOSITORY INSTITUTIONS					2,221,894
OIL AND GAS EXTRACTION - 0.80%
50,000		BJ Services Co	5.750	06/01/11	Baa1		49,517
50,000		Burlington Resources Finance Co	6.400	08/15/11	A2		51,487
25,000		Burlington Resources Finance Co	7.200	08/15/31	A2		27,763
100,000		Chesapeake Energy Corp	6.500	08/15/17	Ba2		91,250
25,000		Nexen, Inc	5.050	11/20/13	Baa2		23,515
75,000		Ocean Energy, Inc	4.375	10/01/07	Baa3		73,536
25,000		PC Financial Partnership	5.000	11/15/14	Baa2		23,003
25,000		Pemex Project Funding Master Trust	5.750	12/15/15	Baa1		23,211
50,000		Petro-Canada	5.950	05/15/35	NR		45,851
25,000		XTO Energy, Inc	6.100	04/01/36	Baa3		22,699
		TOTAL OIL AND GAS EXTRACTION					431,832
OTHER MORTGAGE BACKED SECURITIES - 5.30%

384

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus II Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING +		VALUE
$     196,748	Banc of America Mortgage Securities Series 2006-1 (Class A8)	6.000	05/01/36	Aaa	$	196,120
1,150,000	Bear Stearns Commercial Mortgage Securities Series 2006-T22 (Class
	A4)	5.634	04/12/38	Aaa		1,124,563
300,000	Citicorp Mortgage Securities, Inc Series 2005-4 (Class 1A7)	5.500	07/25/35	Aa1		279,889
400,000	Countrywide Alternative Loan Trust Series 2005-42CB (Class A12)	5.500	10/25/35	Aa1		374,048
50,000	Credit Suisse Mortgage Capital Certificates Series 2006-C2 (Class A3)	5.848	03/15/39	Aaa		49,382
100,000	LB-UBS Commercial Mortgage Trust Series 2006-C4 (Class A4)	5.900	06/15/38	Aaa		100,609
75,000	Merrill Lynch Mortgage Trust Series 2006-C1 (Class A4)	5.844	05/12/39	NR		74,228
200,000	Morgan Stanley Capital I Series 2005-HQ5 (Class A2)	4.809	01/14/42	NR		194,272
250,000	Residential Accredit Loans, Inc Series 2005-QS6 (Class A7)	5.750	05/25/35	Aa1		237,188
250,000	Residential Accredit Loans, Inc Series 2005-QS7 (Class A6)	5.500	06/25/35	Aa1		233,705
	TOTAL OTHER MORTGAGE BACKED SECURITIES					2,864,004
PETROLEUM AND COAL PRODUCTS - 0.19%
100,000	Conoco Funding Co	6.350	10/15/11	Baa1		102,424
	TOTAL PETROLEUM AND COAL PRODUCTS					102,424
PIPELINES, EXCEPT NATURAL GAS - 0.49%
25,000	Enterprise Products Operating Lp	4.000	10/15/07	Baa3		24,467
50,000	Enterprise Products Operating Lp	4.950	06/01/10	Baa3		48,006
25,000	Enterprise Products Operating Lp	5.600	10/15/14	Baa3		23,667
50,000	Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		48,972
50,000	Plains All American Pipeline Lp	4.750	08/15/09	Ba1		48,317
50,000	TransCanada Corp	5.850	03/15/36	A2		46,825
25,000	TransCanada Pipelines Ltd	4.000	06/15/13	A2		22,389
	TOTAL PIPELINES, EXCEPT NATURAL GAS					262,643
PRIMARY METAL INDUSTRIES - 0.17%
50,000	Alcan, Inc	5.000	06/01/15	NR		46,133
25,000	Alcan, Inc	5.750	06/01/35	Baa1		22,371
25,000	Alcoa, Inc	6.500	06/01/11	A1		25,707
	TOTAL PRIMARY METAL INDUSTRIES					94,211
RAILROAD TRANSPORTATION - 0.32%
25,000	Burlington Northern Santa Fe Corp	6.750	07/15/11	Baa2		26,003
50,000	Canadian National Railway Co	4.400	03/15/13	Baa1		46,052
50,000	Canadian National Railway Co	6.200	06/01/36	A3		49,956
50,000	Union Pacific Corp	6.500	04/15/12	Baa3		51,476
	TOTAL RAILROAD TRANSPORTATION					173,487
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.05%
25,000	Sealed Air Corp	5.375	04/15/08	Baa3		24,787
	TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS					24,787
SECURITY AND COMMODITY BROKERS - 1.49%
25,000	Bear Stearns Cos, Inc	5.700	11/15/14	A2		24,400
50,000	Credit Suisse First Boston USA, Inc	5.250	03/02/11	Aa3		48,808
25,000	Goldman Sachs Group Lp	4.500	06/15/10	Aa3		23,883
100,000	Goldman Sachs Group, Inc	6.600	01/15/12	Aa3		102,984
25,000	Goldman Sachs Group, Inc	5.500	11/15/14	Aa3		24,013
50,000	Goldman Sachs Group, Inc	6.450	05/01/36	A1		47,793

385

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus II Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING +		VALUE
$     75,000	Lehman Brothers Holdings, Inc	6.625	01/18/12	A1	$	77,507
75,000	Lehman Brothers Holdings, Inc	5.500	04/04/16	A1		71,727
25,000	Merrill Lynch & Co, Inc	4.790	08/04/10	Aa3		24,127
25,000	Merrill Lynch & Co, Inc	5.000	02/03/14	Aa3		23,509
100,000	Merrill Lynch & Co, Inc	6.050	05/16/16	A1		99,344
125,000	Morgan Stanley	3.625	04/01/08	A		120,804
125,000	Morgan Stanley	4.750	04/01/14	A1		114,412
	TOTAL SECURITY AND COMMODITY BROKERS					803,311
STONE, CLAY, AND GLASS PRODUCTS - 0.04%
25,000	CRH America, Inc	6.400	10/15/33	Baa1		24,075
	TOTAL STONE, CLAY, AND GLASS PRODUCTS					24,075
TRANSPORTATION EQUIPMENT - 0.63%
50,000	Boeing Capital Corp	5.800	01/15/13	A3		50,030
25,000	DaimlerChrysler NA Holding Corp	6.500	11/15/13	A3		24,971
25,000	General Dynamics Corp	3.000	05/15/08	A2		23,828
50,000	Lockheed Martin Corp	8.500	12/01/29	Baa2		62,893
25,000	Northrop Grumman Corp	7.750	02/15/31	Baa3		29,271
100,000	United Technologies Corp	6.350	03/01/11	A2		102,339
50,000	United Technologies Corp	6.050	06/01/36	A2		48,941
	TOTAL TRANSPORTATION EQUIPMENT					342,273
WHOLESALE TRADE-NONDURABLE GOODS - 0.13%
75,000	Procter & Gamble Co	4.950	08/15/14	Aa3		71,246
	TOTAL WHOLESALE TRADE-NONDURABLE GOODS					71,246
	TOTAL CORPORATE BONDS					16,687,531
	(Cost $16,899,374)
GOVERNMENT BONDS - 66.51%
AGENCY SECURITIES - 11.13%
500,000	Federal Farm Credit Bank (FFCB)	5.375	07/18/11	Aaa		498,560
5,000,000	Federal Home Loan Mortgage Corp (FHLMC)	5.125	10/24/07	Aaa		4,973,376
100,000	FHLMC	4.375	11/16/07	Aaa		98,545
250,000	FHLMC	5.250	07/18/11	NR		247,450
200,000	FHLMC	5.750	06/27/16	Aa2		199,495
	TOTAL AGENCY SECURITIES					6,017,426
FOREIGN GOVERNMENT BONDS - 4.63%
25,000	Chile Government International Bond	5.500	01/15/13	Baa1		24,572
100,000	Eksportfinans A/S	5.500	05/25/16	Aaa		99,029
25,000	European Investment Bank	5.250	06/15/11	Aaa		24,849
25,000	European Investment Bank	4.875	02/15/36	Aaa		22,180
100,000	International Finance Corp	5.125	05/02/11	Aaa		98,836
100,000	Italy Government International Bond	6.875	09/27/23	Aa3		110,494
25,000	Korea Development Bank	5.750	09/10/13	A3		24,683
25,000	Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		24,873
50,000	Kreditanstalt fuer Wiederaufbau	5.125	03/14/16	Aaa		48,533
100,000	Landwirtschaftliche Rentenbank	5.250	07/15/11	Aaa		98,949
25,000	Mexico Government International Bond	6.375	01/16/13	Baa1		25,208
100,000	Mexico Government International Bond	5.875	01/15/14	Baa1		97,227
50,000	Mexico Government International Bond	6.750	09/27/34	Baa1		48,625
50,000	Province of Ontario	4.750	01/19/16	Aa2		46,929
1,500,000	Province of Quebec Canada	5.750	02/15/09	Aa3		1,509,282

386

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus II Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING +		VALUE
$     150,000		Province of Quebec Canada	5.000	03/01/16	A1	$	142,070
50,000		Province of Saskatchewan Canada	8.000	02/01/13	A3		56,680
		TOTAL FOREIGN GOVERNMENT BONDS					2,503,019
MORTGAGED BACKED SECURITIES - 33.82%
1,500,000		Federal Home Loan Mortgage Corp (FHLMC)	4.000	09/15/19			1,317,444
932,575		Federal Home Loan Mortgage Corp Gold (FGLMC)	4.500	09/01/20			880,456
1,908,776		FGLMC	5.500	10/01/20			1,872,809
910,616		FGLMC	5.000	10/01/20			876,728
199,826		FGLMC	6.500	05/01/36			201,019
602,614		Federal National Mortgage Association (FNMA)	5.000	07/01/33			566,036
3,871,014		FNMA	5.500	07/01/33			3,734,367
3,835,924		FNMA	5.000	10/01/35			3,588,027
280,069		FNMA	7.000	01/01/36			285,338
3,440,550		FNMA	6.000	04/01/36			3,386,899
259,030		FNMA	6.500	04/01/36			260,415
995,789		FNMA	6.500	04/01/36			1,001,111
332,600		Government National Mortgage Association (GNMA)	5.000	02/15/33			315,094
		TOTAL MORTGAGED BACKED SECURITIES					18,285,743
U.S. TREASURY SECURITIES - 16.93%
800,000		United States Treasury Bond	8.000	11/15/21			1,023,328
1,000,000		United States Treasury Bond	4.500	02/15/36			896,870
635,726	k	United States Treasury Inflation Indexed Bonds	3.375	01/15/07			637,367
50,000		United States Treasury Note	4.875	04/30/08			49,728
50,000		United States Treasury Note	4.500	02/15/09			49,210
5,600,000		United States Treasury Note	4.875	05/31/11			5,543,496
1,000,000		United States Treasury Note	4.500	02/15/16			951,510
		TOTAL U.S. TREASURY SECURITIES					9,151,509
		TOTAL GOVERNMENT BONDS					35,957,697
		(Cost $36,328,615)
		TOTAL BONDS					52,645,228
		(Cost $53,227,989)
SHORT-TERM INVESTMENTS - 1.74%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.74%
940,000		Federal Home Loan Bank (FHLB)	4.950	07/03/06			940,000
		TOTAL SHORT-TERM INVESTMENTS					940,000
		(Cost $939,745)
		TOTAL PORTFOLIO - 99.11%					53,585,228
		(Cost $54,167,734)
		OTHER ASSETS & LIABILITIES, NET - 0.89%					481,776
		NET ASSETS - 100.00%				$	54,067,004
	+	As provided by Moody's Investors Service (unaudited).
	g	Security is exempt from registration under Rule 144 (A) of the Securities Act of 1933 and may be resold in transactions exempt
		from registration to qualified institutional buyers.
		At June 30, 2006, the value of these securities amounted to $113,742 or 0.21% of net assets.
	h	These securities were purchased on a delayed delivery basis.
	k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	v	Security valued at fair value.

387

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus II Fund
	ABBREVIATION:
	NR - Not Rated
	For ease of presentation, we have grouped a number of industry classification categories together in the
	Statement of Investments. Note that the Funds use more specific industry categories in following
	their investment limitations on industry concentration.

388

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond II Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SHORT-TERM BOND II FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
BONDS - 94.56%
CORPORATE BONDS - 26.65%
ASSET BACKED - 6.22%
$     490,829		CIT Group Home Equity Loan Trust Series 2002-2 (Class MF2)	0.639%	12/25/30	A2	$	488,320
125,000	v	Long Beach Asset Holdings Corp Series 2006-4 (Class N1)	5.877	06/25/46	NR		125,000
1,000,000		Marriott Vacation Club Owner Trust Series 2006-1A (Class A)	5.737	04/20/28	Aaa		995,025
1,000,000		Residential Funding Mortgage Securities II, Inc Series 2006-H12
		(Class A3)	5.790	02/25/36	Aaa		993,440
500,000		Saxon Asset Securities Trust Series 2002-2 (Class AF6)	5.620	11/25/30	Aaa		497,457
500,000	h,v	Sierra Receivables Funding Co Series 2006-1A (Class A1)	5.840	05/20/18	Aaa		499,950
		TOTAL ASSET BACKED					3,599,192
CHEMICALS AND ALLIED PRODUCTS - 0.67%
100,000		Abbott Laboratories	5.600	05/15/11	Aa3		99,409
250,000		Eli Lilly & Co	2.900	03/15/08	Aa3		239,687
50,000		Lubrizol Corp	4.625	10/01/09	Baa3		47,768
		TOTAL CHEMICALS AND ALLIED PRODUCTS					386,864
COMMUNICATIONS - 0.53%
125,000		CBS Corp	5.625	05/01/07	A3		124,864
125,000		Verizon Global Funding Corp	7.375	09/01/12	A2		132,953
50,000		Viacom, Inc	5.750	04/30/11	Baa3		49,129
		TOTAL COMMUNICATIONS					306,946
DEPOSITORY INSTITUTIONS - 4.39%
250,000		Bank One NA	3.700	01/15/08	Aa2		242,966
600,000		Citigroup, Inc	5.125	02/14/11	Aa1		585,914
250,000		JPMorgan Chase & Co	3.500	03/15/09	Aa3		236,611
250,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3		239,031
125,000		Mellon Funding Corp	4.875	06/15/07	A1		124,059
125,000		US Bank NA	5.700	12/15/08	Aa2		124,988
125,000		Wachovia Bank N.A.	4.850	07/30/07	Aa2		123,982
125,000		Wachovia Capital Trust III	5.800	12/30/49	A2		121,300
125,000		Washington Mutual Bank	4.500	08/25/08	A2		121,866
650,000		Wells Fargo & Co	4.200	01/15/10	Aa1		620,561
		TOTAL DEPOSITORY INSTITUTIONS					2,541,278
EATING AND DRINKING PLACES - 0.22%
125,000		McDonald's Corp	5.950	01/15/08	A2		125,510
		TOTAL EATING AND DRINKING PLACES					125,510
ELECTRIC, GAS, AND SANITARY SERVICES - 1.90%
125,000		Atmos Energy Corp	4.000	10/15/09	Baa3		118,842
25,000		Consumers Energy Co	4.400	08/15/09	Baa3		23,893
475,000		Duke Energy Corp	3.750	03/05/08	A2		461,653

389

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond II Fund

			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
125,000	Midamerican Energy Holdings Co	4.625	10/01/07	Baa3	$	123,257
250,000	Ohio Power Co	5.300	11/01/10	A3		244,517
125,000	Pepco Holdings, Inc	5.500	08/15/07	Baa1		124,961
	TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					1,097,123
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.30%
125,000	Cisco Systems, Inc	5.250	02/22/11	A1		122,631
50,000	Hewlett-Packard Co	3.625	03/15/08	A3		48,409
	TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					171,040
FABRICATED METAL PRODUCTS - 0.21%
125,000	Fortune Brands, Inc	5.125	01/15/11	NR		119,709
	TOTAL FABRICATED METAL PRODUCTS					119,709
FOOD AND KINDRED PRODUCTS - 0.42%
125,000	Cadbury Schweppes US Finance LLC	3.875	10/01/08	Baa		119,849
125,000	Kraft Foods, Inc	4.000	10/01/08	A3		120,383
	TOTAL FOOD AND KINDRED PRODUCTS					240,232
FOOD STORES - 0.43%
125,000	Fred Meyer, Inc	7.450	03/01/08	Baa3		128,112
125,000	Safeway, Inc	4.125	11/01/08	Baa2		120,062
	TOTAL FOOD STORES					248,174
GENERAL MERCHANDISE STORES - 1.05%
250,000	May Department Stores Co	3.950	07/15/07	Baa2		245,463
125,000	Target Corp	3.375	03/01/08	A2		120,601
125,000	Wal-Mart Stores, Inc	4.375	07/12/07	Aa2		123,530
125,000	Wal-Mart Stores, Inc	4.000	01/15/10	Aa2		118,662
	TOTAL GENERAL MERCHANDISE STORES					608,256
HOLDING AND OTHER INVESTMENT OFFICES - 0.21%
125,000	Simon Property Group Lp	5.750	05/01/12	Baa1		123,837
	TOTAL HOLDING AND OTHER INVESTMENT OFFICES					123,837
INSURANCE CARRIERS - 0.80%
350,000	UnitedHealth Group, Inc	5.250	03/15/11	A2		341,307
125,000	WellPoint, Inc	5.000	01/15/11	Baa1		120,628
	TOTAL INSURANCE CARRIERS					461,935
NONDEPOSITORY INSTITUTIONS - 3.99%
50,000	American General Finance Corp	2.750	06/15/08	A1		47,277
250,000	American Honda Finance Corp	5.125	12/15/10	A1		243,849
50,000	Caterpillar Financial Services Corp	4.875	06/15/07	A2		49,604
250,000	Caterpillar Financial Services Corp	2.700	07/15/08	A2		236,023
125,000	CIT Group Funding Co of Canada	4.650	07/01/10	A2		119,722
500,000	General Electric Capital Corp	6.000	06/15/12	Aaa		505,499
125,000	General Motors Acceptance Corp	6.125	08/28/07	A2		123,693
250,000	HSBC Finance Corp	5.250	01/14/11	Aa3		244,202
500,000	HSBC Finance Corp	5.700	06/01/11	Aa3		496,622
25,000	MBNA America Bank NA	5.375	01/15/08	Baa1		24,895
125,000	Residential Capital Corp	6.125	11/21/08	Baa3		123,338
100,000	Toyota Motor Credit Corp	2.875	08/01/08	Aaa		94,459
	TOTAL NONDEPOSITORY INSTITUTIONS					2,309,183

390

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond II Fund

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
OIL AND GAS EXTRACTION - 0.38%
$     125,000		Anadarko Petroleum Corp	3.250	05/01/08	Baa1	$	119,352
50,000		BJ Services Co	5.750	06/01/11	Baa1		49,517
50,000		Ocean Energy, Inc	4.375	10/01/07	Baa3		49,024
		TOTAL OIL AND GAS EXTRACTION					217,893
OTHER MORTGAGE BACKED SECURITIES - 2.50%
270,528		Banc of America Mortgage Securities Series 2006-1 (Class A8)	6.000	05/01/36	Aaa		269,665
200,000		Morgan Stanley Capital I Series 2005-HQ5 (Class A2)	4.809	01/14/42	NR		194,272
990,323		Residential Asset Securitization Trust Series 2006-A6 (Class 2A6)	6.000	07/25/36	Aaa		982,148
		TOTAL OTHER MORTGAGE BACKED SECURITIES					1,446,085
PIPELINES, EXCEPT NATURAL GAS - 1.05%
250,000		Enterprise Products Operating Lp	4.000	10/15/07	Baa3		244,673
125,000		Enterprise Products Operating Lp	4.950	06/01/10	Baa3		120,015
125,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		122,431
125,000		Plains All American Pipeline Lp	4.750	08/15/09	Ba1		120,792
		TOTAL PIPELINES, EXCEPT NATURAL GAS					607,911
SECURITY AND COMMODITY BROKERS - 0.97%
150,000		Goldman Sachs Group, Inc	6.600	01/15/12	Aa3		154,477
250,000		Merrill Lynch & Co, Inc	4.125	09/10/09	Aa3		238,777
175,000		Morgan Stanley	3.625	04/01/08	A		169,126
		TOTAL SECURITY AND COMMODITY BROKERS					562,380
TRANSPORTATION EQUIPMENT - 0.41%
250,000		General Dynamics Corp	3.000	05/15/08	A2		238,277
		TOTAL TRANSPORTATION EQUIPMENT					238,277
		TOTAL CORPORATE BONDS					15,411,825
		(Cost $15,511,093)
GOVERNMENT BONDS - 67.91%
AGENCY SECURITIES - 23.09%
1,000,000		Federal Farm Credit Bank (FFCB)	5.375	07/18/11	Aaa		997,119
5,000,000		Federal Home Loan Mortgage Corp (FHLMC)	5.125	10/24/07	Aaa		4,973,376
100,000		FHLMC	4.375	11/16/07	Aaa		98,545
2,000,000		FHLMC	5.250	05/21/09	NR		1,989,978
900,000		FHLMC	5.250	07/18/11	NR		890,818
2,000,000		Federal National Mortgage Association (FNMA)	7.125	06/15/10	Aaa		2,114,761
2,000,000		FNMA	6.000	05/15/11	Aaa		2,042,481
250,000		FNMA	5.800	06/07/11	Aaa		248,969
		TOTAL AGENCY SECURITIES					13,356,047
FOREIGN GOVERNMENT BONDS - 1.54%
500,000		International Finance Corp	5.125	05/02/11	Aaa		494,179
300,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		298,476
100,000		Landwirtschaftliche Rentenbank	5.250	07/15/11	Aaa		98,949
		TOTAL FOREIGN GOVERNMENT BONDS					891,604
U.S. TREASURY SECURITIES - 43.28%
1,271,452	k	United States Treasury Inflation Indexed Bonds	3.375	01/15/07			1,274,733

391

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond II Fund

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$      15,000,000		United States Treasury Note	4.625	03/31/08	$	14,858,250
125,000		United States Treasury Note	4.875	04/30/08		124,321
1,000,000		United States Treasury Note	4.875	05/31/08		994,410
3,000,000		United States Treasury Note	4.875	05/15/09		2,979,600
4,850,000		United States Treasury Note	4.875	05/31/11		4,801,063
		TOTAL U.S. TREASURY SECURITIES				25,032,377
		TOTAL GOVERNMENT BONDS				39,280,028
		(Cost $39,506,520)
		TOTAL BONDS				54,691,853
		(Cost $55,017,613)
SHORT-TERM INVESTMENTS - 4.49%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 4.49%
2,600,000		Federal Home Loan Bank (FHLB)	4.950	07/03/06		2,600,000
		TOTAL SHORT-TERM INVESTMENTS				2,600,000
		(Cost $2,599,296)
		TOTAL PORTFOLIO - 99.05%				57,291,853
		(Cost $57,616,909)
		OTHER ASSETS & LIABILITIES, NET - 0.95%				546,889
		NET ASSETS -100.00%			$	57,838,742
	+	As provided by Moody's Investors Service (unaudited).
	h	These securities were purchased on a delayed delivery basis.
	k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	v	Security valued at fair value.
		ABBREVIATION:
		NR - Not Rated
		For ease of presentation, we have grouped a number of industry classification categories together in the
		Statement of Investments. Note that the Funds use more specific industry categories in following
		their investment limitations on industry concentration.

392

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield II Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
HIGH-YIELD II FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
BONDS - 91.79%
CORPORATE BONDS - 91.79%
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.26%
$     130,000	Pilgrim's Pride Corp	9.625%	09/15/11	Ba3	$	135,200
	TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK					135,200
AGRICULTURAL SERVICES - 0.48%
250,000	American Rock Salt Co LLC	9.500	03/15/14	B3		253,125
	TOTAL AGRICULTURAL SERVICES					253,125
AMUSEMENT AND RECREATION SERVICES - 1.99%
125,000	Mohegan Tribal Gaming Authority	6.125	02/15/13	Ba2		117,656
125,000	Mohegan Tribal Gaming Authority	6.875	02/15/15	Ba3		117,812
313,000	Pokagon Gaming Authority	10.375	06/15/14	B3		323,564
500,000	Speedway Motorsports, Inc	6.750	06/01/13	Ba2		485,000
	TOTAL AMUSEMENT AND RECREATION SERVICES					1,044,032
APPAREL AND OTHER TEXTILE PRODUCTS - 1.06%
600,000	Broder Brothers	11.250	10/15/10	B3		558,000
	TOTAL APPAREL AND OTHER TEXTILE PRODUCTS					558,000
AUTO REPAIR, SERVICES AND PARKING - 4.01%
370,000	Avis Budget Car Rental LLC	7.625	05/15/14	Ba3		358,900
130,000	Avis Budget Car Rental LLC	7.750	05/15/16	Ba3		125,125
250,000	Hertz Corp	8.875	01/01/14	B3		256,250
575,000	Hertz Corp	10.500	01/01/16	B3		609,500
800,000	Keystone Automotive Operations, Inc	9.750	11/01/13	B3		756,000
	TOTAL AUTO REPAIR, SERVICES AND PARKING					2,105,775
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 1.39%
375,000	Asbury Automotive Group, Inc	8.000	03/15/14	B3		363,750
375,000	Autonation, Inc	7.000	04/15/14	Ba2		369,375
	TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS					733,125
BUSINESS SERVICES - 3.89%
500,000	Advanstar Communications, Inc	10.750	08/15/10	B3		536,250
250,000	Lamar Media Corp	7.250	01/01/13	Ba3		244,375
120,000	Sensata Technologies BV	8.000	05/01/14	B2		115,800
194,000	Serena Software, Inc	10.375	03/15/16	Caa1		194,970
250,000	Sungard Data Systems, Inc	9.125	08/15/13	B3		259,375
550,000	Sungard Data Systems, Inc	10.250	08/15/15	Caa1		568,563
125,000	Universal Compression, Inc	7.250	05/15/10	Ba3		124,687
	TOTAL BUSINESS SERVICES					2,044,020

393

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield II Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
CHEMICALS AND ALLIED PRODUCTS - 5.06%
$     500,000		BCP Crystal US Holdings Corp	9.625	06/15/14	B2	$	542,500
380,000		Chemtura Corp	6.875	06/01/16	Ba1		367,175
250,000		Hercules, Inc	6.750	10/15/29	Ba3		236,250
390,000	g	Ineos Group Holdings plc	8.500	02/15/16	B2		365,138
250,000		Koppers, Inc	9.875	10/15/13	B2		268,125
250,000		Nalco Co	7.750	11/15/11	B2		249,375
375,000	g	Nell AF SARL	8.375	08/15/15	B2		360,469
250,000		WH Holdings Ltd	9.500	04/01/11	B3		273,750
		TOTAL CHEMICALS AND ALLIED PRODUCTS					2,662,782
COAL MINING - 1.37%
500,000		Arch Western Finance LLC	6.750	07/01/13	Ba3		478,750
250,000		Foundation PA Coal Co	7.250	08/01/14	B1		243,750
		TOTAL COAL MINING					722,500
COMMUNICATIONS - 11.69%
500,000		Allbritton Communications Co	7.750	12/15/12	B3		495,000
250,000	g	Charter Communications Operating LLC	8.000	04/30/12	B2		248,750
250,000		Citizens Communications Co	9.250	05/15/11	Ba3		268,750
550,000		Citizens Communications Co	9.000	08/15/31	Ba3		556,875
250,000		CSC Holdings, Inc	8.125	07/15/09	Ba2		254,375
250,000		CSC Holdings, Inc	7.625	04/01/11	B1		250,000
180,000		DirecTV Holdings LLC	8.375	03/15/13	B1		188,550
250,000		Echostar DBS Corp	6.375	10/01/11	Ba3		239,375
200,000		Fisher Communications, Inc	8.625	09/15/14	B2		207,000
700,000	h	Intelsat Bermuda Ltd	11.250	06/15/16	Caa1		717,500
180,000		Intelsat Subsidiary Holding Co Ltd	8.250	01/15/13	B2		178,650
250,000		Liberty Media Corp	8.250	02/01/30	Ba2		239,285
141,000	g	Nordic Telephone Co Holdings ApS	8.875	05/01/16	B2		144,877
250,000		PanAmSat Corp	9.000	08/15/14	B2		253,750
250,000		Qwest Communications International, Inc	7.250	02/15/11	B2		242,500
400,000		Qwest Corp	8.875	03/15/12	Ba3		422,000
250,000		Qwest Corp	7.250	10/15/35	Ba3		226,250
250,000		Rogers Cable, Inc	7.875	05/01/12	Ba3		255,625
250,000		Rogers Wireless, Inc	6.375	03/01/14	Ba3		238,125
250,000		Videotron Ltee	6.875	01/15/14	Ba3		236,875
275,000	h	Windstream Corp	8.125	08/01/13	Ba3		280,500
		TOTAL COMMUNICATIONS					6,144,612
ELECTRIC, GAS, AND SANITARY SERVICES - 10.19%
500,000		AES Corp	9.375	09/15/10	B3		535,000
500,000		Allied Waste North America, Inc	6.375	04/15/11	B2		480,000
13,000		Aquila, Inc	9.950	02/01/11	B2		14,633
250,000		CMS Energy Corp	8.500	04/15/11	B1		260,625
250,000		Dynegy Holdings, Inc	8.375	05/01/16	B2		246,250
350,000		Edison Mission Energy	7.500	06/15/13	B1		343,000
250,000		Inergy LP	8.250	03/01/16	B1		252,500
500,000		Midwest Generation LLC	8.300	07/02/09	B1		507,500
500,000		Mirant North America LLC	7.375	12/31/13	B1		482,500
500,000		NRG Energy, Inc	7.375	02/01/16	NR		487,500
125,000		Reliant Energy, Inc	9.500	07/15/13	B1		125,625
500,000		Reliant Energy, Inc	6.750	12/15/14	B1		460,000
500,000		Sierra Pacific Resources	8.625	03/15/14	B2		529,673

394

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield II Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
$     250,000	Southern Natural Gas Co	8.000	03/01/32	Ba2	$	258,326
125,000	Williams Cos, Inc	8.125	03/15/12	Ba2		129,688
250,000	Williams Cos, Inc	7.750	06/15/31	Ba2		246,250
	TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					5,359,070
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.81%
335,000	L-3 Communications Corp	7.625	06/15/12	Ba3		340,025
250,000	L-3 Communications Corp	5.875	01/15/15	Ba3		233,125
135,000	Nortel Networks Ltd	10.125	07/15/13	B3		137,362
250,000	Sanmina-SCI Corp	8.125	03/01/16	B1		243,750
	TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					954,262
FABRICATED METAL PRODUCTS - 0.93%
250,000	Ball Corp	6.875	12/15/12	Ba3		245,000
250,000	Crown Americas LLC	7.750	11/15/15	B1		246,250
	TOTAL FABRICATED METAL PRODUCTS					491,250
FOOD AND KINDRED PRODUCTS - 0.44%
250,000	Del Monte Corp	6.750	02/15/15	B2		231,875
	TOTAL FOOD AND KINDRED PRODUCTS					231,875
FOOD STORES - 1.77%
250,000	Delhaize America, Inc	8.125	04/15/11	Ba1		262,921
675,000	Stater Brothers Holdings	8.125	06/15/12	B1		666,562
	TOTAL FOOD STORES					929,483
FURNITURE AND HOMEFURNISHINGS STORES - 1.43%
750,000	GSC Holdings Corp	8.000	10/01/12	Ba3		750,000
	TOTAL FURNITURE AND HOMEFURNISHINGS STORES					750,000
GENERAL BUILDING CONTRACTORS - 1.33%
250,000	Beazer Homes USA, Inc	8.375	04/15/12	Ba2		250,000
250,000	K Hovnanian Enterprises, Inc	7.500	05/15/16	Ba1		231,875
250,000	KB Home	5.750	02/01/14	Ba1		219,806
	TOTAL GENERAL BUILDING CONTRACTORS					701,681
HEALTH SERVICES - 3.16%
250,000	DaVita, Inc	6.625	03/15/13	B2		237,500
250,000	DaVita, Inc	7.250	03/15/15	B3		240,000
350,000	HCA, Inc	7.875	02/01/11	Ba1		357,536
350,000	HCA, Inc	6.300	10/01/12	Ba1		329,182
250,000	Tenet Healthcare Corp	6.375	12/01/11	Baa3		223,125
300,000	Tenet Healthcare Corp	7.375	02/01/13	Ba3		273,750
	TOTAL HEALTH SERVICES					1,661,093
HOTELS AND OTHER LODGING PLACES - 2.50%
300,000	Boyd Gaming Corp	7.125	02/01/16	B1		289,875
300,000	MGM Mirage	8.500	09/15/10	Ba1		311,625
500,000	MGM Mirage	6.750	09/01/12	Ba1		481,250
250,000	Station Casinos, Inc	6.875	03/01/16	B1		233,125
	TOTAL HOTELS AND OTHER LODGING PLACES					1,315,875

395

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield II Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 1.17%
$     250,000	Case New Holland, Inc	9.250	08/01/11	Ba3	$	263,125
375,000	Scientific Games Corp	6.250	12/15/12	B1		350,625
	TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					613,750
INSTRUMENTS AND RELATED PRODUCTS - 1.05%
250,000	Fisher Scientific International, Inc	6.750	08/15/14	Ba2		249,062
300,000	Xerox Corp	7.625	06/15/13	Ba2		302,250
	TOTAL INSTRUMENTS AND RELATED PRODUCTS					551,312
JUSTICE, PUBLIC ORDER AND SAFETY - 0.99%
250,000	Corrections Corp of America	6.250	03/15/13	Ba3		235,000
300,000	Corrections Corp of America	6.750	01/31/14	Ba3		288,000
	TOTAL JUSTICE, PUBLIC ORDER AND SAFETY					523,000
LEGAL SERVICES - 0.48%
250,000	FTI Consulting, Inc	7.625	06/15/13	Ba2		253,125
	TOTAL LEGAL SERVICES					253,125
MISCELLANEOUS RETAIL - 2.90%
250,000	AmeriGas Partners Lp	7.125	05/20/16	B1		234,375
250,000	Couche-Tard US Lp	7.500	12/15/13	Ba2		248,750
250,000	FTD, Inc	7.750	02/15/14	B3		246,250
250,000	Rite Aid Corp	7.500	01/15/15	B2		240,000
525,000	Stripes Acquisition LLC	10.625	12/15/13	B2		553,875
	TOTAL MISCELLANEOUS RETAIL					1,523,250
NONDEPOSITORY INSTITUTIONS - 4.83%
225,000	Ford Motor Credit Co	5.800	01/12/09	Ba2		205,553
225,000	Ford Motor Credit Co	5.700	01/15/10	Ba2		197,086
475,000	Ford Motor Credit Co	7.875	06/15/10	Ba2		438,184
195,000	Ford Motor Credit Co	9.750	09/15/10	Ba2		190,005
225,000	Ford Motor Credit Co	9.750	09/15/10	Ba3		220,219
250,000	Ford Motor Credit Co	7.000	10/01/13	Ba2		215,160
500,000	General Motors Acceptance Corp	6.125	08/28/07	A2		494,771
200,000	General Motors Acceptance Corp	5.625	05/15/09	A3		190,232
250,000	General Motors Acceptance Corp	7.250	03/02/11	A2		242,377
150,000	General Motors Acceptance Corp	8.000	11/01/31	A2		144,172
	TOTAL NONDEPOSITORY INSTITUTIONS					2,537,759
OIL AND GAS EXTRACTION - 4.26%
205,000	Chesapeake Energy Corp	7.625	07/15/13	Ba2		206,281
500,000	Chesapeake Energy Corp	7.750	01/15/15	Ba2		501,250
500,000	Chesapeake Energy Corp	6.875	11/15/20	Ba2		462,500
180,000	Denbury Resources, Inc	7.500	04/01/13	B2		180,000
250,000	Encore Acquisition Co	7.250	12/01/17	B2		240,000
250,000	Hanover Compressor Co	9.000	06/01/14	B3		261,250
125,000	Kerr-McGee Corp	6.950	07/01/24	Ba2		125,649
260,000	Pogo Producing Co	7.875	05/01/13	B2		260,650
	TOTAL OIL AND GAS EXTRACTION					2,237,580
PAPER AND ALLIED PRODUCTS - 5.32%
500,000	Abitibi-Consolidated, Inc	8.550	08/01/10	Ba1		473,750
150,000	Abitibi-Consolidated, Inc	6.000	06/20/13	Ba1		121,500

396

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield II Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     156,000		Bowater, Inc	6.500	06/15/13	B1	$	135,720
130,000		Caraustar Industries, Inc	7.375	06/01/09	Ba1		122,850
630,000		Cenveo Corp	7.875	12/01/13	B3		614,250
250,000		Domtar, Inc	7.125	08/15/15	B1		217,500
250,000		Georgia-Pacific Corp	8.125	05/15/11	Baa2		248,750
500,000		Graphic Packaging International Corp	8.500	08/15/11	B2		498,750
125,000		Greif, Inc	8.875	08/01/12	B2		131,563
250,000		Jefferson Smurfit Corp US	8.250	10/01/12	B2		234,375
		TOTAL PAPER AND ALLIED PRODUCTS					2,799,008
PERSONAL SERVICES - 0.48%
250,000		Mac-Gray Corp	7.625	08/15/15	B1		252,500
		TOTAL PERSONAL SERVICES					252,500
PETROLEUM AND COAL PRODUCTS - 0.98%
500,000		Equistar Chemicals Lp	8.750	02/15/09	B1		516,250
		TOTAL PETROLEUM AND COAL PRODUCTS					516,250
PRIMARY METAL INDUSTRIES - 0.46%
250,000		Novelis, Inc	7.250	02/15/15	B1		240,000
		TOTAL PRIMARY METAL INDUSTRIES					240,000
PRINTING AND PUBLISHING - 3.97%
195,000		AAC Group Holding Corp	12.750	10/01/12	Caa2		195,000
200,000		American Achievement Corp	8.250	04/01/12	B3		197,000
120,000		Morris Publishing Group LLC	7.000	08/01/13	B1		114,000
250,000		Primedia, Inc	8.875	05/15/11	B1		240,000
375,000	g	Quebecor World Capital Corp	8.750	03/15/16	Ba3		342,188
750,000	g	RH Donnelley Corp	8.875	01/15/16	Caa1		756,563
250,000		Visant Corp	7.625	10/01/12	B3		242,500
		TOTAL PRINTING AND PUBLISHING					2,087,251
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.67%
410,000		Solo Cup Co	8.500	02/15/14	B3		354,650
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC					354,650
SECURITY AND COMMODITY BROKERS - 0.38%
200,000		E*Trade Financial Corp	7.375	09/15/13	Ba2		200,000
		TOTAL SECURITY AND COMMODITY BROKERS					200,000
SOCIAL SERVICES - 0.87%
500,000	g	Knowledge Learning Corp, Inc	7.750	02/01/15	B3		457,500
		TOTAL SOCIAL SERVICES					457,500
STONE, CLAY, AND GLASS PRODUCTS - 0.99%
500,000		Owens Brockway Glass Container, Inc	8.750	11/15/12	B1		520,625
		TOTAL STONE, CLAY, AND GLASS PRODUCTS					520,625
TRANSPORTATION EQUIPMENT - 2.81%
150,000	g	Bombardier, Inc	6.750	05/01/12	NR		138,000
300,000		Ford Motor Co	6.625	10/01/28	Ba3		207,000
100,000		General Motors Corp	7.200	01/15/11	Caa1		88,500
200,000		General Motors Corp	7.700	04/15/16	Caa1		163,000

397

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield II Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     100,000		General Motors Corp	8.800	03/01/21	Caa1	$	81,000
500,000		General Motors Corp	8.375	07/15/33	Caa1		402,500
375,000		Sequa Corp	9.000	08/01/09	B1		395,625
		TOTAL TRANSPORTATION EQUIPMENT					1,475,625
TRANSPORTATION SERVICES - 0.45%
250,000		United Rentals North America, Inc	6.500	02/15/12	B1		236,250
		TOTAL TRANSPORTATION SERVICES					236,250
WATER TRANSPORTATION - 0.70%
375,000		Gulfmark Offshore, Inc	7.750	07/15/14	B2		365,625
		TOTAL WATER TRANSPORTATION					365,625
WHOLESALE TRADE-DURABLE GOODS - 2.76%
400,000		IKON Office Solutions, Inc	7.750	09/15/15	Ba2		396,000
231,000		Interline Brands, Inc	8.125	06/15/14	B3		230,423
250,000		Russel Metals, Inc	6.375	03/01/14	Ba3		231,250
600,000		Ryerson, Inc	8.250	12/15/11	B2		592,500
		TOTAL WHOLESALE TRADE-DURABLE GOODS					1,450,173
WHOLESALE TRADE-NONDURABLE GOODS - 0.51%
270,000	g,h	Baker & Taylor, Inc	11.500	07/01/13	B3		270,000
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					270,000
		TOTAL CORPORATE BONDS					48,262,993
		(Cost $49,530,573)
SHORT-TERM INVESTMENTS - 8.71%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 8.71%
4,580,000		Federal Home Loan Bank (FHLB)	4.950	07/03/06			4,580,000
		TOTAL SHORT-TERM INVESTMENTS					4,580,000
		(Cost $4,578,761)
		TOTAL PORTFOLIO - 100.50%					52,842,993
		(Cost $54,109,334)
		OTHER ASSETS & LIABILITIES, NET - (0.50)%					(264,816	)
		NET ASSETS - 100.00%				$	52,578,177
	+	As provide by Moody's Investor Service (unaudited)
	g	Security is exempt from registration under Rule 144 (A) of the Securities Act of 1933 and may be resold in transactions
		exempt from registration to qualified institutional buyers.
		At June 30, 2006, the value of these securities amounted to $3,083,485 or 5.86% of net assets.
	h	These securities were purchased on a delayed delivery basis.
		ABBREVIATION:
		NR - Not Rated
		For ease of presentation, we have grouped a number of industry classification categories together in the
		Statement of Investments. Note that the Funds use more specific industry categories in following
		their investment limitations on industry concentration.

398

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond II Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
TAX-EXEMPT BOND II FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
LONG-TERM MUNICIPAL BONDS - 97.56%
ARIZONA - 3.72%
$     1,820,000	University of Arizona	5.000%	06/01/13	Aaa	$	1,916,424
						1,916,424
CALIFORNIA - 7.61%
950,000	California Statewide Communities Development Authority	4.250	11/01/16	Aaa		944,462
1,000,000	State of California	5.000	09/01/16	A1		1,051,160
1,825,000	State of California	5.250	11/01/18	A1		1,923,404
						3,919,026
DISTRICT OF COLUMBIA - 2.07%
1,000,000	District of Columbia	5.250	01/01/14	Aaa		1,064,200
						1,064,200
FLORIDA - 13.40%
1,025,000	County of Polk FL	5.000	12/01/10	Aaa		1,063,448
2,000,000	Florida State Board of Education	5.000	07/01/14	Aaa		2,113,160
2,000,000	Hillsborough County School Board	5.500	07/01/13	Aaa		2,157,260
1,440,000	Orange County Health Facilities Authority	6.250	10/01/10	Aaa		1,570,262
						6,904,130
GEORGIA - 3.61%
1,750,000	State of Georgia	5.000	07/01/13	Aaa		1,856,838
						1,856,838
INDIANA - 2.05%
1,000,000	Indiana State Finance Authority Revenue	5.000	02/01/15	Aaa		1,056,310
						1,056,310
MARYLAND - 4.21%
2,000,000	State of Maryland	5.250	03/01/15	Aaa		2,167,540
						2,167,540
MICHIGAN - 6.36%
2,000,000	Michigan State Trunk Line	5.500	11/01/16	Aa3		2,198,200
1,000,000	State of Michigan	5.250	05/15/18	Aaa		1,078,790
						3,276,990
MISSOURI - 3.93%
1,750,000	Missouri State Health & Educational Facilities Authority	6.750	05/15/13	Aaa		2,023,560
						2,023,560
NEW JERSEY - 2.08%
1,000,000	New Jersey Transportation Trust Fund Authority	5.250	12/15/19	A1		1,068,740
						1,068,740
NEW YORK - 3.15%
1,500,000	New York State Environmental Facilities Corp	5.250	06/15/15	Aaa		1,622,175
						1,622,175
OHIO - 7.58%
2,015,000	Medina County Library District	5.250	12/01/19	Aaa		2,131,266
1,675,000	State of Ohio	5.000	06/15/14	Aa1		1,773,942
						3,905,208
OREGON - 4.09%
2,000,000	Oregon State Department of Administrative Services	5.250	05/01/17	Aaa		2,108,360
						2,108,360

399

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond II Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
PENNSYLVANIA - 3.29%
$     1,615,000		City of Pittsburgh PA	5.000	09/01/13	Aaa	$	1,695,039
							1,695,039
PUERTO RICO - 4.16%
2,015,000		Commonwealth of Puerto Rico	5.500	07/01/15	Baa3		2,144,182
							2,144,182
TEXAS - 16.44%
2,000,000		Alliance Airport Authority	4.850	04/01/21	Baa2		1,954,560
850,000		Clear Creek Independent School District	5.000	02/15/18	Aaa		876,477
1,800,000		Hurst-Euless-Bedford Independent School District	5.000	08/15/14	Aaa		1,898,010
1,000,000		Lubbock TX	5.000	02/15/15	Aaa		1,052,080
1,550,000		North East Independent School District	5.000	02/01/14	Aaa		1,629,654
1,000,000		San Felipe-Del Rio Consolidated Independent School District	5.500	08/15/19	Aaa		1,059,760
							8,470,541
VIRGINIA - 5.76%
900,000		City of Norfolk VA	5.250	07/01/12	Aaa		960,840
1,900,000		Fairfax County Economic Development Authority	5.000	05/15/16	Aa1		2,007,426
							2,968,266
WASHINGTON - 4.05%
2,000,000		State of Washington	5.000	07/01/18	Aaa		2,086,760
							2,086,760
		TOTAL LONG-TERM MUNICIPAL BONDS - 97.56%					50,254,289
		(Cost $50,699,032)
		TOTAL PORTFOLIO - 97.56%					50,254,289
		(Cost $50,699,032)
		OTHER ASSETS & LIABILITIES, NET - 2.44%					1,259,209
		NET ASSETS - 100.00%				$	51,513,498
	+	As provided by Moody's Investors Service (unaudited).
		For ease of presentation, we have grouped a number of industry classification categories together in the
		Statement of Investments. Note that the Funds use more specific industry categories in following
		their investment limitations on industry concentration.

400

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Inflation-Linked Bond Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INFLATION-LINKED BOND FUND
STATEMENT OF INVESTMENTS(Unaudited)
June 30, 2006

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
GOVERNMENT BONDS - 97.95%
U.S. TREASURY SECURITIES - 97.95%
$     31,371,195	k	United States Treasury Inflation Indexed Bonds	2.375%	01/15/25	$	30,526,369
11,950,957	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/26		10,937,038
20,980,047	k	United States Treasury Inflation Indexed Bonds	3.625	04/15/28		24,890,938
24,201,138	k	United States Treasury Inflation Indexed Bonds	3.875	04/15/29		29,930,032
6,344,046	k	United States Treasury Inflation Indexed Bonds	3.375	04/15/32		7,485,975
20,991,624	k	United States Treasury Inflation Indexed Notes	3.625	01/15/08		21,349,111
19,941,661	k	United States Treasury Inflation Indexed Notes	3.875	01/15/09		20,655,174
14,206,204	k	United States Treasury Inflation Indexed Notes	4.250	01/15/10		15,091,677
33,920,329	k	United States Treasury Inflation Indexed Notes	0.875	04/15/10		31,993,994
14,514,045	k	United States Treasury Inflation Indexed Notes	3.500	01/15/11		15,176,321
13,092,158	k	United States Treasury Inflation Indexed Notes	2.375	04/15/11		13,037,957
7,964,046	k	United States Treasury Inflation Indexed Notes	3.375	01/15/12		8,341,065
27,320,331	k	United States Treasury Inflation Indexed Notes	3.000	07/15/12		28,127,101
25,517,062	k	United States Treasury Inflation Indexed Notes	1.875	07/15/13		24,506,332
27,266,241	k	United States Treasury Inflation Indexed Notes	2.000	01/15/14		26,309,742
23,901,099	k	United States Treasury Inflation Indexed Notes	2.000	07/15/14		23,012,218
23,420,556	k	United States Treasury Inflation Indexed Notes	1.625	01/15/15		21,828,661
20,738,827	k	United States Treasury Inflation Indexed Notes	1.875	07/15/15		19,669,534
21,440,677	k	United States Treasury Inflation Indexed Notes	2.000	01/15/16		20,469,200
		TOTAL U.S. TREASURY SECURITIES				393,338,439
		TOTAL GOVERNMENT BONDS				393,338,439
		(Cost $407,064,242)
SHORT-TERM INVESTMENTS - 1.11%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.11%
4,460,000		Federal Home Loan Bank (FHLB)	4.950	07/03/06		4,460,000
		TOTAL SHORT-TERM INVESTMENTS				4,460,000
		(Cost $4,458,793)
		TOTAL PORTFOLIO - 99.06%				397,798,439
		(Cost $411,523,035)
		OTHER ASSETS & LIABILITIES, NET - 0.94%				3,781,667
		NET ASSETS - 100.00%			$	401,580,106
	k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the
		Consumer Price Index.
		For ease of presentation, we have grouped a number of industry classification categories together in
		the Statement of Investments. Note that the Funds use more specific industry categories in following
		their investment limitations on industry concentration.

401

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MONEY MARKET FUND
STATEMENT OF INVESTMENTS (Unaudited)
June 30, 2006

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
SHORT-TERM INVESTMENTS - 100.33%
BANK NOTES - 1.56%
$     5,000,000		Harris Trust and Savings Bank	5.170%	08/07/06	$	5,000,000
		TOTAL BANK NOTES				5,000,000
CERTIFICATES OF DEPOSIT - 5.07%
3,300,000		American Express Centurion Bank	5.070	07/03/06		3,300,002
1,500,000		American Express Centurion Bank	5.300	07/28/06		1,500,011
2,000,000		American Express Centurion Bank	5.440	09/26/06		2,000,071
4,000,000		Bank of Nova Scotia	5.420	09/27/06		4,000,000
3,000,000		Calyon	5.070	07/21/06		3,000,017
2,490,000		Deutsche Bank	4.925	07/05/06		2,490,004
		TOTAL CERTIFICATES OF DEPOSIT				16,290,105
COMMERICAL PAPER - 76.93%
2,000,000		Abbey National North America LLC	4.830	09/07/06		1,981,753
2,000,000		American Honda Finance Corp	5.250	07/25/06		1,993,241
2,500,000		American Honda Finance Corp	5.050	08/03/06		2,488,427
1,250,000		Bank of Montreal	4.850	07/06/06		1,249,158
640,000		Barclays U.S. Funding Corp	4.980	07/18/06		638,495
2,000,000		Barclays U.S. Funding Corp	5.350	09/05/06		1,980,383
2,240,000	c	Beta Finance, Inc	4.970	07/20/06		2,234,124
675,000	c	Beta Finance, Inc	5.055	08/04/06		671,777
2,500,000		Calyon	4.960	07/11/06		2,496,556
555,000		Calyon North America, Inc	4.835	07/21/06		553,509
7,000,000		Canadian Imperial Holding, Inc	5.234	07/26/06		6,974,557
4,500,000	c	CC (USA), Inc	5.030	07/10/06		4,494,396
2,500,000	c	CC (USA), Inc	5.000	07/21/06		2,493,056
1,520,000	c	Ciesco Lp	5.040	07/12/06		1,517,659
3,000,000	c	Ciesco Lp	5.280	08/15/06		2,980,200
2,400,000	c	Ciesco Lp	5.220	08/16/06		2,383,992
2,400,000	c	Corporate Asset Funding Corp, Inc	5.130	07/27/06		2,391,108
4,600,000	c	Corporate Asset Funding Corp, Inc	5.290	08/24/06		4,563,292
1,500,000	c	Danske Corp	4.980	07/20/06		1,496,103
1,115,000	c	Danske Corp	5.160	08/14/06		1,107,968
1,000,000	c	Danske Corp	5.130	08/24/06		992,035
1,000,000	c	Danske Corp	5.200	09/14/06		989,167
1,815,000	c	Danske Corp	5.370	09/25/06		1,791,717
2,500,000	c	Dorada Finance, Inc	4.960	07/14/06		2,495,522
1,000,000	c	Dorada Finance, Inc	5.040	07/20/06		997,340
3,335,000	c	Dorada Finance, Inc	5.050	08/02/06		3,320,030
1,000,000	c	Edison Asset Securitization, LLC	4.800	07/12/06		998,544
5,000,000	c	Edison Asset Securitization, LLC	5.050	08/08/06		4,973,347
1,000,000	c	Edison Asset Securitization, LLC	5.100	11/14/06		980,733
2,400,000	c	Fairway Finance Co, LLC	5.300	08/17/06		2,383,393
1,000,000		General Electric Capital Corp	4.990	07/03/06		999,723

402

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$     2,900,000		General Electric Capital Corp	5.030	07/19/06	$	2,892,706
1,000,000		General Electric Capital Corp	4.910	08/04/06		995,363
1,500,000		Goldman Sachs Group, Inc	4.810	11/02/06		1,475,244
2,345,000	c	Govco, Inc	5.000	07/25/06		2,337,183
750,000	c	Govco, Inc	5.030	07/31/06		746,856
1,330,000	c	Govco, Inc	5.090	08/01/06		1,324,171
550,000	c	Govco, Inc	4.830	09/05/06		545,130
2,000,000	c	Govco, Inc	5.340	12/18/06		1,949,567
3,000,000	c	Grampian Funding LLC	5.150	08/29/06		2,974,827
1,000,000	c	Grampian Funding LLC	5.150	11/17/06		980,115
2,635,000	c	Greenwich Capital Holdings, Inc	5.430	10/23/06		2,591,694
1,260,000	c	Greyhawk Funding LLC	4.960	07/11/06		1,258,264
3,020,000	c	Greyhawk Funding LLC	5.240	07/17/06		3,012,967
3,000,000	c	Harley-Davidson Funding Corp	5.100	07/28/06		2,988,525
2,000,000	c	Harrier Finance Funding LLC	5.020	07/13/06		1,996,633
1,385,000	c	Harrier Finance Funding LLC	5.050	07/14/06		1,382,479
1,855,000	c	Harrier Finance Funding LLC	5.020	07/17/06		1,850,861
1,200,000	c	Harrier Finance Funding LLC	5.230	07/25/06		1,195,944
1,400,000		HBOS Treasury Services plc	5.040	07/13/06		1,397,681
2,000,000		HBOS Treasury Services plc	5.235	09/15/06		1,977,897
4,000,000		HSBC Finance Corp	5.290	08/23/06		3,968,848
2,000,000		HSBC Finance Corp	5.100	09/06/06		1,981,017
1,000,000		HSBC Finance Corp	5.200	09/12/06		989,456
2,500,000		ING Finance	5.040	07/25/06		2,491,600
4,485,000		ING Finance	5.100	08/25/06		4,450,054
990,000	c	Kitty Hawk Funding Corp	5.040	08/10/06		984,456
4,000,000	c	Kitty Hawk Funding Corp	5.330	08/23/06		3,968,612
2,000,000	c	Links Finance LLC	5.100	08/15/06		1,987,250
2,935,000	c	Links Finance LLC	5.370	09/22/06		2,898,662
2,495,000		McGraw-Hill, Inc	5.090	07/12/06		2,491,120
2,000,000		McGraw-Hill, Inc	5.260	07/28/06		1,992,373
5,000,000		Merrill Lynch & Co, Inc	5.210	08/10/06		4,971,056
2,000,000		Merrill Lynch & Co, Inc	5.270	08/14/06		1,987,118
5,000,000		Morgan Stanley Dean Witter	5.240	08/17/06		4,965,794
1,500,000	c	Nestle Capital Corp	5.230	08/04/06		1,492,791
3,225,000	c	Nestle Capital Corp	4.805	08/21/06		3,203,047
1,000,000	c	Nestle Capital Corp	5.220	11/29/06		978,235
1,210,000	c	Nestle Capital Corp	5.310	12/01/06		1,182,693
1,440,000		Paccar Financial Corp	4.910	07/05/06		1,439,224
3,000,000		Paccar Financial Corp	4.920	07/11/06		2,995,949
2,175,000		Paccar Financial Corp	5.040	08/11/06		2,162,515
5,000,000	c	Park Avenue Receivables Corp	5.120	07/13/06		4,991,467
2,000,000	c	Park Avenue Receivables Corp	5.250	08/11/06		1,988,042
3,439,000	c	Preferred Receivables Funding Corp	5.160	07/14/06		3,432,606
1,253,000	c	Preferred Receivables Funding Corp	5.200	07/20/06		1,249,707
1,000,000	c	Preferred Receivables Funding Corp	5.150	07/27/06		996,281
2,000,000	c	Private Export Funding Corp	4.990	07/05/06		1,998,891
1,000,000	c	Private Export Funding Corp	5.020	08/09/06		994,524
1,025,000	c	Private Export Funding Corp	5.200	08/16/06		1,018,360
475,000	c	Private Export Funding Corp	5.250	08/23/06		471,329
2,500,000	c	Private Export Funding Corp	5.190	08/29/06		2,478,776
3,000,000	c	Ranger Funding Co LLC	5.020	07/07/06		2,997,490
1,634,000	c	Ranger Funding Co LLC	5.280	08/08/06		1,624,893
2,000,000	c	Ranger Funding Co LLC	5.220	09/11/06		1,979,120
1,500,000	c	Scaldis Capital LLC	5.230	07/17/06		1,496,776

403

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	VALUE
$     1,300,000	c	Scaldis Capital LLC	5.160	08/31/06	1,288,634
2,000,000	c	Scaldis Capital LLC	4.920	09/12/06	1,980,107
2,000,000	c	Scaldis Capital LLC	4.970	09/29/06	1,975,560
1,500,000	c	Sedna Finance, Inc	5.150	07/31/06	1,493,562
1,000,000	c	Sedna Finance, Inc	5.170	08/30/06	991,383
2,000,000	c	Sedna Finance, Inc	5.190	09/08/06	1,980,105
1,135,000	c	Sheffield Receivables Corp	5.220	07/18/06	1,132,202
1,500,000	c	Sheffield Receivables Corp	5.260	08/08/06	1,491,672
3,000,000	c	Sheffield Receivables Corp	5.160	08/09/06	2,983,230
1,000,000	c	Sheffield Receivables Corp	4.815	09/05/06	991,172
2,000,000	c	Sigma Finance, Inc	5.050	07/18/06	1,995,266
2,485,000	c	Sigma Finance, Inc	5.030	07/19/06	2,478,850
1,500,000	c	Sigma Finance, Inc	5.220	08/22/06	1,488,589
1,000,000	c	Sigma Finance, Inc	5.140	11/30/06	978,298
2,000,000		Societe Generale North America, Inc	4.870	08/01/06	1,991,613
3,000,000		Societe Generale North America, Inc	5.040	08/22/06	2,978,160
1,000,000		Societe Generale North America, Inc	4.980	09/19/06	988,933
915,000		Societe Generale North America, Inc	5.080	10/06/06	902,476
3,000,000		Swedish Export Credit Corp	5.250	08/22/06	2,977,605
3,325,000		Swedish Export Credit Corp	5.315	08/28/06	3,296,528
1,000,000	c	Toronto-Dominion Holdings USA, Inc	4.960	07/19/06	997,520
6,000,000	c	Toronto-Dominion Holdings USA, Inc	5.045	07/24/06	5,980,661
2,000,000		Toyota Motor Credit Corp	5.250	08/21/06	1,985,125
1,800,000		UBS Finance, (Delaware), Inc	4.910	07/06/06	1,798,772
3,000,000		UBS Finance, (Delaware), Inc	5.295	08/14/06	2,980,585
2,000,000		UBS Finance, (Delaware), Inc	5.100	08/21/06	1,985,768
4,000,000	c	Variable Funding Capital Corp	5.140	07/27/06	3,985,151
3,763,000	c	Yorktown Capital, LLC	5.130	07/20/06	3,752,792
1,305,000	c	Yorktown Capital, LLC	5.320	08/10/06	1,297,286
1,000,000	c	Yorktown Capital, LLC	5.090	11/10/06	981,337
		TOTAL COMMERICAL PAPER			246,914,486
U.S GOVERNMENT AND AGENCIES DISCOUNT NOTES - 13.03%
2,380,000		Federal Home Loan Bank (FHLB)	4.975	07/21/06	2,373,422
1,495,000		FHLB	5.010	07/28/06	1,489,383
2,360,000		FHLB	5.220	08/09/06	2,346,833
10,000,000		FHLB	4.950	08/18/06	9,930,800
2,200,000		FHLB	5.200	08/25/06	2,182,658
665,000		FHLB	5.210	09/01/06	659,033
550,000		FHLB	5.190	09/08/06	544,529
715,000		Federal Home Loan Mortgage Corp (FHLMC)	5.145	07/24/06	712,650
1,200,000		FHLMC	5.000	07/31/06	1,195,000
1,056,000		FHLMC	4.955	08/01/06	1,051,499
1,620,000		FHLMC	5.250	08/22/06	1,607,715
574,000		FHLMC	4.920	09/19/06	567,765
462,000		FHLMC	4.950	09/26/06	456,526
2,095,000		FHLMC	5.040	10/31/06	2,059,217
3,000,000		Federal National Mortgage Association (FNMA)	3.250	07/12/06	2,998,286
1,620,000		FNMA	5.000	07/17/06	1,616,400
1,025,000		FNMA	5.010	08/14/06	1,018,724
3,395,000		FNMA	5.240	08/16/06	3,372,358
3,000,000		FNMA	5.250	08/28/06	2,974,625
2,707,000		FNMA	4.985	09/29/06	2,673,264
		TOTAL U.S GOVERNMENT AND AGENCIES DISCOUNT NOTES			41,830,687

404

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
VARIABLE NOTES - 3.74%
$     4,000,000		National City Bank	5.093	07/26/06		$     4,000,061
5,000,000		Toyota Motor Credit Corp	5.090	10/10/06		4,999,961
3,000,000		US Bank NA	5.470	09/29/06		3,000,023
		TOTAL VARIABLE NOTES				12,000,045
		TOTAL SHORT-TERM INVESTMENTS				322,035,323
		(Cost $ 322,035,323)
		TOTAL PORTFOLIO - 100.33%				322,035,323
		(Cost $ 322,035,323)
		OTHER ASSETS & LIABILITIES, NET - (0.33)%				(1,062,582	)
		NET ASSETS - 100.00%			$	320,972,741
	c	Commerical Paper issued under the Private Placement exemption under Section 4(2) of the
		Securities Act of 1933, as amended.
		For ease of presentation, we have grouped a number of industry classification categories
		together in the Statement of investments. Note that the Funds use more specific industry
		categories in following their investment limitations on industry concentration.

405

TIAA-CREF Lifecycle Funds - Percentages

The following is information about the holdings of the TIAA-CREF Lifecycle Funds in
the TIAA-CREF Institutional Mutual Funds as of June 30, 2006 (Unaudited):

	Lifecycle 2010 Fund:		Lifecycle 2015 Fund:		Lifecycle 2020 Fund:
	Number of		Number of		Number of
	Shares held in	Percent of Total Shares	Shares held in	Percent of Total Shares	Shares held in	Percent of Total Shares
	Funds	outstanding in the Funds	Funds	outstanding in the Funds	Funds	outstanding in the Funds
TIAA-CREF Institutional Mutual Funds:
Bond Fund - Institutional Class	866,711	0.54%	742,443	0.47%	512,578	0.32%
Growth Equity Fund - Institutional Class	796,734	6.03%	931,085	7.04%	788,157	5.96%
Inflation-Linked Bond Fund - Institutional Class	872,475	2.53%	736,755	2.14%	515,956	1.50%
International Equity Fund - Institutional Class	147,656	0.31%	173,433	0.36%	146,053	0.30%
Large-Cap Value Fund - Institutional Class	366,926	2.62%	430,320	3.07%	362,951	2.59%
Real Estate Securities Fund - Institutional Class	65,505	0.45%	76,888	0.53%	64,789	0.45%
Small-Cap Equity Fund - Institutional Class	59,057	0.88%	69,152	1.03%	58,417	0.87%
	Lifecycle 2025 Fund:		Lifecycle 2030 Fund:		Lifecycle 2035 Fund:
	Number of		Number of		Number of
	Shares held in	Percent of Total Shares	Shares held in	Percent of Total Shares	Shares held in	Percent of Total Shares
	Funds	outstanding in the Funds	Funds	outstanding in the Funds	Funds	outstanding in the Funds
TIAA-CREF Institutional Mutual Funds:
Bond Fund - Institutional Class	401,909	0.25%	258,020	0.16%	159,033	0.10%
Growth Equity Fund - Institutional Class	763,143	5.77%	615,658	4.66%	483,561	3.66%
Inflation-Linked Bond Fund - Institutional Class	404,634	1.17%	258,626	0.75%	160,112	0.46%
International Equity Fund - Institutional Class	141,630	0.30%	114,126	0.24%	89,618	0.19%
Large-Cap Value Fund - Institutional Class	351,523	2.51%	283,825	2.03%	222,698	1.59%
Real Estate Securities Fund - Institutional Class	62,742	0.43%	50,324	0.35%	39,759	0.27%
Small-Cap Equity Fund - Institutional Class	56,599	0.84%	45,561	0.68%	35,844	0.53%
	Lifecycle 2040 Fund:		All Lifecycle Funds:
	Number of		Number of
	Shares held in	Percent of Total Shares	Shares held in	Percent of Total Shares
	Funds	outstanding in the Funds	Funds	outstanding in the Funds
TIAA-CREF Institutional Mutual Funds:
Bond Fund - Institutional Class	120,395	0.08%	3,061,089	1.92%
Growth Equity Fund - Institutional Class	483,842	3.66%	4,862,180	36.77%
Inflation-Linked Bond Fund - Institutional Class	121,213	0.35%	3,069,771	8.90%
International Equity Fund - Institutional Class	89,672	0.19%	902,188	1.88%
Large-Cap Value Fund - Institutional Class	222,832	1.59%	2,241,075	16.01%
Real Estate Securities Fund - Institutional Class	39,786	0.27%	399,793	2.76%
Small-Cap Equity Fund - Institutional Class	35,866	0.53%	360,496	5.38%

1

TIAA-CREF Lifecycle Funds - 2010 Fund

TIAA-CREF LIFECYCLE FUNDS
2010 Fund
Statement of Investments (Unaudited)
June 30, 2006

SHARES	ISSUER		VALUE
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 98.98%
866,711	TIAA-CREF Institutional Bond Fund	$	8,433,103
796,734	TIAA-CREF Institutional Growth Equity Fund		5,537,302
872,475	TIAA-CREF Institutional Inflation-Linked Bond Fund		8,611,324
147,656	TIAA-CREF Institutional International Equity Fund		1,889,993
366,926	TIAA-CREF Institutional Large-Cap Value Fund		5,514,891
65,505	TIAA-CREF Institutional Real Estate Securities Fund		936,070
59,057	TIAA-CREF Institutional Small-Cap Equity Fund		941,369
	TOTAL TIAA-CREF INSTITUTIONAL FUNDS		31,864,052
	(Cost $32,319,738)
	TOTAL PORTFOLIO - 98.98%		31,864,052
	(Cost $32,319,738)
	OTHER ASSETS & LIABILITIES, NET - 1.02%		329,156
	NET ASSETS - 100.00%	$	32,193,208

2

TIAA-CREF Lifecycle Funds - 2015 Fund

TIAA-CREF LIFECYCLE FUNDS
2015 Fund
Statement of Investments (Unaudited)
June 30, 2006

SHARES	ISSUER		VALUE
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.53%
742,443	TIAA-CREF Institutional Bond Fund	$	7,223,966
931,085	TIAA-CREF Institutional Growth Equity Fund		6,471,039
736,755	TIAA-CREF Institutional Inflation-Linked Bond Fund		7,271,775
173,433	TIAA-CREF Institutional International Equity Fund		2,219,940
430,320	TIAA-CREF Institutional Large-Cap Value Fund		6,467,709
76,888	TIAA-CREF Institutional Real Estate Securities Fund		1,098,731
69,152	TIAA-CREF Institutional Small-Cap Equity Fund		1,102,282
	TOTAL TIAA-CREF INSTITUTIONAL FUNDS		31,855,442
	(Cost $32,209,324)
	TOTAL PORTFOLIO - 99.53%		31,855,442
	(Cost $32,209,324)
	OTHER ASSETS & LIABILITIES, NET - 0.47%		149,021
	NET ASSETS - 100.00%	$	32,004,463

3

TIAA-CREF Lifecycle Funds - 2020 Fund

TIAA-CREF LIFECYCLE FUNDS
2020 Fund
Statement of Investments (Unaudited)
June 30, 2006

SHARES	ISSUER		VALUE
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 98.62%
512,578	TIAA-CREF Institutional Bond Fund	$	4,987,388
788,157	TIAA-CREF Institutional Growth Equity Fund		5,477,694
515,956	TIAA-CREF Institutional Inflation-Linked Bond Fund		5,092,487
146,053	TIAA-CREF Institutional International Equity Fund		1,869,479
362,951	TIAA-CREF Institutional Large-Cap Value Fund		5,455,150
64,789	TIAA-CREF Institutional Real Estate Securities Fund		925,841
58,417	TIAA-CREF Institutional Small-Cap Equity Fund		931,168
	TOTAL TIAA-CREF INSTITUTIONAL FUNDS		24,739,207
	(Cost $24,944,905)
	TOTAL PORTFOLIO - 98.62%		24,739,207
	(Cost $24,944,905)
	OTHER ASSETS & LIABILITIES, NET - 1.38%		345,539
	NET ASSETS - 100.00%	$	25,084,746

4

TIAA-CREF Lifecycle Funds - 2025 Fund

TIAA-CREF LIFECYCLE FUNDS
2025 Fund
Statement of Investments (Unaudited)
June 30, 2006

SHARES	ISSUER		VALUE
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.86%
401,909	TIAA-CREF Institutional Bond Fund	$	3,910,573
763,143	TIAA-CREF Institutional Growth Equity Fund		5,303,845
404,634	TIAA-CREF Institutional Inflation-Linked Bond Fund		3,993,740
141,630	TIAA-CREF Institutional International Equity Fund		1,812,870
351,523	TIAA-CREF Institutional Large-Cap Value Fund		5,283,385
62,742	TIAA-CREF Institutional Real Estate Securities Fund		896,577
56,599	TIAA-CREF Institutional Small-Cap Equity Fund		902,189
	TOTAL TIAA-CREF INSTITUTIONAL FUNDS		22,103,179
	(Cost $22,309,696)
	TOTAL PORTFOLIO - 99.86%		22,103,179
	(Cost $22,309,696)
	OTHER ASSETS & LIABILITIES, NET - 0.14%		31,925
	NET ASSETS - 100.00%	$	22,135,104

5

TIAA-CREF Lifecycle Funds - 2030 Fund

TIAA-CREF LIFECYCLE FUNDS
2030 Fund
Statement of Investments (Unaudited)
June 30, 2006

SHARES	ISSUER		VALUE
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.86%
258,020	TIAA-CREF Institutional Bond Fund	$	2,510,537
615,658	TIAA-CREF Institutional Growth Equity Fund		4,278,825
258,626	TIAA-CREF Institutional Inflation-Linked Bond Fund		2,552,636
114,126	TIAA-CREF Institutional International Equity Fund		1,460,810
283,825	TIAA-CREF Institutional Large-Cap Value Fund		4,265,892
50,324	TIAA-CREF Institutional Real Estate Securities Fund		719,124
45,561	TIAA-CREF Institutional Small-Cap Equity Fund		726,244
	TOTAL TIAA-CREF INSTITUTIONAL FUNDS		16,514,068
	(Cost $16,555,813)
	TOTAL PORTFOLIO - 99.86%		16,514,068
	(Cost $16,555,813)
	OTHER ASSETS & LIABILITIES, NET - 0.14%		23,618
	NET ASSETS - 100.00%	$	16,537,686

6

TIAA-CREF Lifecycle Funds - 2035 Fund

TIAA-CREF LIFECYCLE FUNDS
2035 Fund
Statement of Investments (Unaudited)
June 30, 2006

SHARES	ISSUER		VALUE
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 100.19%
159,033	TIAA-CREF Institutional Bond Fund	$	1,547,391
483,561	TIAA-CREF Institutional Growth Equity Fund		3,360,749
160,112	TIAA-CREF Institutional Inflation-Linked Bond Fund		1,580,305
89,618	TIAA-CREF Institutional International Equity Fund		1,147,107
222,698	TIAA-CREF Institutional Large-Cap Value Fund		3,347,155
39,759	TIAA-CREF Institutional Real Estate Securities Fund		568,153
35,844	TIAA-CREF Institutional Small-Cap Equity Fund		571,346
	TOTAL TIAA-CREF INSTITUTIONAL FUNDS		12,122,206
	(Cost $12,109,725)
	TOTAL PORTFOLIO - 100.19%		12,122,206
	(Cost $12,109,725)
	OTHER ASSETS & LIABILITIES, NET - (0.19)%		(22,795	)
	NET ASSETS - 100.00%	$	12,099,411

7

TIAA-CREF Lifecycle Funds - 2040 Fund

TIAA-CREF LIFECYCLE FUNDS
2040 Fund
Statement of Investments (Unaudited)
June 30, 2006

SHARES	ISSUER		VALUE
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.43%
120,395	TIAA-CREF Institutional Bond Fund	$	1,171,445
483,842	TIAA-CREF Institutional Growth Equity Fund		3,362,705
121,213	TIAA-CREF Institutional Inflation-Linked Bond Fund		1,196,369
89,672	TIAA-CREF Institutional International Equity Fund		1,147,802
222,832	TIAA-CREF Institutional Large-Cap Value Fund		3,349,161
39,786	TIAA-CREF Institutional Real Estate Securities Fund		568,544
35,866	TIAA-CREF Institutional Small-Cap Equity Fund		571,706
	TOTAL TIAA-CREF INSTITUTIONAL FUNDS		11,367,732
	(Cost $11,406,737)
	TOTAL PORTFOLIO - 99.43%		11,367,732
	(Cost $11,406,737)
	OTHER ASSETS & LIABILITIES, NET - 0.57%		65,178
	NET ASSETS - 100.00%	$	11,432,910

8

Item 2. Controls and Procedures.

     (a) Evaluation of disclosure controls and procedures. An evaluation was performed within 90 days from the date hereof under the supervision of the registrant’s management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures. Based on that evaluation, the registrant’s management, including the principal executive officer and principal financial officer, concluded that the registrant’s disclosure controls and procedures were effective for this quarterly reporting period.

     (b) Changes in internal controls. There were no changes in the registrant’s internal controls over financial reporting that occurred during the registrant's last fiscal quarter that materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer (EX-99.CERT)

3(b) Section 302 certification of the principal financial officer (EX-99.CERT)

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
Date:  August 28, 2006	By:     /s/Scott C. Evans
	Scott C. Evans
	Executive Vice President

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
Date:  August 28, 2006	By:     /s/Scott C. Evans
	Scott C. Evans
	Executive Vice President
Date:  August 23, 2006	By:     /s/ Georganne C. Proctor
	Georganne C. Proctor
	Executive Vice President and Chief Financial Officer
	(principal financial officer)

EXHIBIT LIST

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer (EX-99.CERT)

3(b) Section 302 certification of the principal financial officer (EX-99.CERT)