N-Q

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: June 30, 2007

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.65%
AMUSEMENT AND RECREATION SERVICES - 1.58%
121,208	*	Activision, Inc	$	2,262,953
4,900		Nintendo Co Ltd		1,787,733
		TOTAL AMUSEMENT AND RECREATION SERVICES		4,050,686
APPAREL AND OTHER TEXTILE PRODUCTS - 0.82%
21,569		Polo Ralph Lauren Corp		2,116,135
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		2,116,135
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.31%
109,461		Lowe's Cos, Inc		3,359,358
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		3,359,358
BUSINESS SERVICES - 13.24%
119,767	*	Adobe Systems, Inc		4,808,645
91,947	*	eBay, Inc		2,958,854
57,799	*	Electronic Arts, Inc		2,735,049
15,970	*	Google, Inc (Class A)		8,358,379
67,836	*	Juniper Networks, Inc		1,707,432
2,081	e*	Limelight Networks, Inc		41,162
132,922		Microsoft Corp		3,917,211
69,699		Omnicom Group, Inc		3,688,471
131,303	*	Oracle Corp		2,587,982
118,171	*	Yahoo!, Inc		3,205,979
		TOTAL BUSINESS SERVICES		34,009,164
CHEMICALS AND ALLIED PRODUCTS - 14.93%
101,227		Abbott Laboratories		5,420,706
74,721		Colgate-Palmolive Co		4,845,657
33,347	*	Genentech, Inc		2,523,034
123,352	*	Gilead Sciences, Inc		4,782,357
36,243	*	Keryx Biopharmaceuticals, Inc		354,094
102,433		Merck & Co, Inc		5,101,163
74,420		Monsanto Co		5,026,327
162,372		Schering-Plough Corp		4,942,604
15,042		Shire plc (ADR)		1,115,063
102,179		Teva Pharmaceutical Industries Ltd (ADR)		4,214,884
		TOTAL CHEMICALS AND ALLIED PRODUCTS		38,325,889
COMMUNICATIONS - 2.60%
49,100		AT&T, Inc		2,037,650
46,175		America Movil S.A. de C.V. (Series L) (ADR)		2,859,618
62,958	*	Comcast Corp (Class A)		1,770,379
		TOTAL COMMUNICATIONS		6,667,647

1

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
DEPOSITORY INSTITUTIONS - 0.67%
48,876		Wells Fargo & Co	$	1,718,969
		TOTAL DEPOSITORY INSTITUTIONS		1,718,969
ELECTRIC, GAS, AND SANITARY SERVICES - 0.83%
68,048	e	Fortum Oyj		2,126,329
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		2,126,329
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 16.17%
57,623	*	Apple Computer, Inc		7,032,311
295,044	*	Cisco Systems, Inc		8,216,975
78,215		Cooper Industries Ltd (Class A)		4,465,294
131,585		Intel Corp		3,126,460
27,148	*	MEMC Electronic Materials, Inc		1,659,286
71,827		Maxim Integrated Products, Inc		2,399,740
39,474	e	National Semiconductor Corp		1,115,930
48,009	*	Network Appliance, Inc		1,401,863
60,038	*	Nvidia Corp		2,480,170
65,528	*	Polycom, Inc		2,201,741
152,525		Qualcomm, Inc		6,618,060
21,179		Texas Instruments, Inc		796,966
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		41,514,796
ENGINEERING AND MANAGEMENT SERVICES - 2.74%
65,529	*	Celgene Corp		3,756,777
17,500		Fluor Corp		1,948,975
15,989	*	McDermott International, Inc		1,329,006
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		7,034,758
FOOD AND KINDRED PRODUCTS - 2.61%
103,396		PepsiCo, Inc		6,705,231
		TOTAL FOOD AND KINDRED PRODUCTS		6,705,231
FURNITURE AND HOME FURNISHINGS STORES - 0.97%
63,785	*	GameStop Corp (Class A)		2,493,993
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		2,493,993
GENERAL MERCHANDISE STORES - 1.89%
76,241		Target Corp		4,848,928
		TOTAL GENERAL MERCHANDISE STORES		4,848,928
HEALTH SERVICES - 0.77%
25,500	*	Medco Health Solutions, Inc		1,988,745
		TOTAL HEALTH SERVICES		1,988,745
HOLDING AND OTHER INVESTMENT OFFICES - 0.15%
13,036	*	Blackstone Group LP/The		381,564
385	e	Hugoton Royalty Trust		9,713
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		391,277
HOTELS AND OTHER LODGING PLACES - 2.23%
109,732		Hilton Hotels Corp		3,672,730
30,573		Starwood Hotels & Resorts Worldwide, Inc		2,050,531
		TOTAL HOTELS AND OTHER LODGING PLACES		5,723,261

2

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.14%
18,032		Alstom	$	3,006,885
16,810		Caterpillar, Inc		1,316,223
39,967	*	Dell, Inc		1,141,058
123,079		Hewlett-Packard Co		5,491,785
75,119		International Game Technology		2,982,224
22,813		Manitowoc Co, Inc		1,833,709
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		15,771,884
INSTRUMENTS AND RELATED PRODUCTS - 4.64%
14,752		Alcon, Inc		1,990,192
116,729		Emerson Electric Co		5,462,917
22,769	*	Hologic, Inc		1,259,353
37,774	*	Zimmer Holdings, Inc		3,206,635
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		11,919,097
INSURANCE CARRIERS - 0.80%
41,717		Aetna, Inc		2,060,820
		TOTAL INSURANCE CARRIERS		2,060,820
LEATHER AND LEATHER PRODUCTS - 1.26%
68,258	*	Coach, Inc		3,234,747
		TOTAL LEATHER AND LEATHER PRODUCTS		3,234,747
MISCELLANEOUS RETAIL - 1.69%
119,162		CVS Corp		4,343,455
		TOTAL MISCELLANEOUS RETAIL		4,343,455
NONDEPOSITORY INSTITUTIONS - 2.07%
86,982		American Express Co		5,321,559
		TOTAL NONDEPOSITORY INSTITUTIONS		5,321,559
OIL AND GAS EXTRACTION - 4.22%
16,144	*	National Oilwell Varco, Inc		1,682,850
53,822		Schlumberger Ltd		4,571,641
76,092		XTO Energy, Inc		4,573,129
		TOTAL OIL AND GAS EXTRACTION		10,827,620
PAPER AND ALLIED PRODUCTS - 1.25%
54,565		Anglo American plc		3,203,609
		TOTAL PAPER AND ALLIED PRODUCTS		3,203,609
PETROLEUM AND COAL PRODUCTS - 1.51%
30,507		Apache Corp		2,489,066
15,310	*	Suncor Energy, Inc		1,376,675
		TOTAL PETROLEUM AND COAL PRODUCTS		3,865,741
PRIMARY METAL INDUSTRIES - 0.82%
75,672		BHP Billiton plc		2,102,081
		TOTAL PRIMARY METAL INDUSTRIES		2,102,081
RAILROAD TRANSPORTATION - 0.50%
28,726		CSX Corp		1,294,968
		TOTAL RAILROAD TRANSPORTATION		1,294,968

3

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 5.37%
247,021		Charles Schwab Corp	$	5,068,871
6,436		Chicago Mercantile Exchange Holdings, Inc		3,439,141
24,382		Goldman Sachs Group, Inc		5,284,798
		TOTAL SECURITY AND COMMODITY BROKERS		13,792,810
TRANSPORTATION EQUIPMENT - 5.87%
63,354		Boeing Co		6,092,121
46,857		ITT Industries, Inc		3,199,396
81,442		United Technologies Corp		5,776,681
		TOTAL TRANSPORTATION EQUIPMENT		15,068,198
		TOTAL COMMON STOCKS		255,881,755
		(Cost $237,650,495)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 1.72%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.99%
$      2,540,000		Federal Home Loan Bank (FHLB) 4.800%, 07/02/07		2,540,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.73%
1,889,934		State Street Navigator Securities Lending Prime Portfolio		1,889,934
		TOTAL SHORT-TERM INVESTMENTS		4,429,934
		(Cost $4,429,595)
		TOTAL PORTFOLIO - 101.37%		260,311,689
		(Cost $242,080,090)
		OTHER ASSETS & LIABILITIES, NET - (1.37)%		(3,519,316	)
		NET ASSETS - 100.00%	$	256,792,373
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.

4

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
GROWTH & INCOME FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.66%
AMUSEMENT AND RECREATION SERVICES - 2.40%
228,244	*	Activision, Inc	$	4,261,315
12,400		Nintendo Co Ltd		4,524,058
96,768	*	Penn National Gaming, Inc		5,814,789
158,036		Walt Disney Co		5,395,349
		TOTAL AMUSEMENT AND RECREATION SERVICES		19,995,511
APPAREL AND ACCESSORY STORES - 0.53%
81,073	e*	J Crew Group, Inc		4,385,239
		TOTAL APPAREL AND ACCESSORY STORES		4,385,239
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.70%
148,413		Home Depot, Inc		5,840,052
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		5,840,052
BUSINESS SERVICES - 5.81%
136,045	*	Adobe Systems, Inc		5,462,207
96,450	*	Autodesk, Inc		4,540,866
176,893	*	BEA Systems, Inc		2,421,665
36,815	e	Ctrip.com International Ltd (ADR)		2,894,763
14,556	*	Google, Inc (Class A)		7,618,319
555,432		Microsoft Corp		16,368,581
30,129	*	Salesforce.com, Inc		1,291,329
265,469		WPP Group plc		3,970,480
138,595	*	Yahoo!, Inc		3,760,082
		TOTAL BUSINESS SERVICES		48,328,292
CHEMICALS AND ALLIED PRODUCTS - 13.34%
215,127		Abbott Laboratories		11,520,051
94,673		Air Products & Chemicals, Inc		7,608,869
56,350	*	Amgen, Inc		3,115,592
81,719	e*	Chattem, Inc		5,179,350
104,542		Colgate-Palmolive Co		6,779,549
49,203		DSM NV		2,423,262
62,375		Du Pont (E.I.) de Nemours & Co		3,171,145
135,948	*	Elan Corp plc (ADR)		2,981,340
31,388	*	Genentech, Inc		2,374,816
78,712	*	Genzyme Corp		5,069,053
205,190	*	Gilead Sciences, Inc		7,955,216
272,724		Merck & Co, Inc		13,581,655
89,803		Monsanto Co		6,065,295
135,477	e*	Mosaic Co		5,286,313
42,100		PPG Industries, Inc		3,204,231
136,775		Procter & Gamble Co		8,369,262
236,895		Schering-Plough Corp		7,211,084

5

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
158,832		Wyeth	$	9,107,427
		TOTAL CHEMICALS AND ALLIED PRODUCTS		111,003,510
COMMUNICATIONS - 3.70%
67,109		America Movil S.A. de C.V. (ADR) (Series L)		4,156,060
156,268		AT&T, Inc		6,485,122
117,643	*	Comcast Corp (Class A)		3,308,121
54,211	e	Manitoba Telecom Services, Inc		2,386,251
59,834	e*	MetroPCS Communications, Inc		1,976,915
80,367		Telekom Austria AG.		2,001,365
254,629		Verizon Communications, Inc		10,483,076
		TOTAL COMMUNICATIONS		30,796,910
DEPOSITORY INSTITUTIONS - 8.44%
169,501		Bank of America Corp		8,286,904
325,266		Citigroup, Inc		16,682,893
306,602		JPMorgan Chase & Co		14,854,867
127,462		Northern Trust Corp		8,188,159
92,996		SunTrust Banks, Inc		7,973,477
405,921		Wells Fargo & Co		14,276,242
		TOTAL DEPOSITORY INSTITUTIONS		70,262,542
EATING AND DRINKING PLACES - 1.69%
35,283	e*	Chipotle Mexican Grill, Inc (Class A)		3,008,934
93,013		Darden Restaurants, Inc		4,091,642
136,751		McDonald's Corp		6,941,481
		TOTAL EATING AND DRINKING PLACES		14,042,057
EDUCATIONAL SERVICES - 0.64%
90,975	e*	Apollo Group, Inc (Class A)		5,315,669
		TOTAL EDUCATIONAL SERVICES		5,315,669
ELECTRIC, GAS, AND SANITARY SERVICES - 2.66%
135,490	*	AES Corp		2,964,521
103,197		American Electric Power Co, Inc		4,647,993
83,530		Constellation Energy Group, Inc		7,281,310
158,461	e	DPL, Inc		4,490,785
65,778	e*	NRG Energy, Inc		2,734,391
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		22,119,000
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 9.43%
85,472	*	Apple Computer, Inc		10,431,003
655,162	*	Cisco Systems, Inc		18,246,262
66,765	e*	First Solar, Inc		5,961,447
94,418		Gamesa Corp Tecnologica S.A.		3,415,657
146,175		Honeywell International, Inc		8,226,729
414,062		Intel Corp		9,838,113
52,257		L-3 Communications Holdings, Inc		5,089,309
71,330	*	Marvell Technology Group Ltd		1,298,919
125,900		Motorola, Inc		2,228,430
134,752	*	Nvidia Corp		5,566,605
187,654		Qualcomm, Inc		8,142,307
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		78,444,781

6

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
FOOD AND KINDRED PRODUCTS - 4.06%
121,653		Coca-Cola Co	$	6,363,668
52,623		Groupe Danone		4,250,158
136,452		Kellogg Co		7,066,849
186,204		PepsiCo, Inc		12,075,329
124,163		Unilever plc		4,009,205
		TOTAL FOOD AND KINDRED PRODUCTS		33,765,209
GENERAL MERCHANDISE STORES - 2.13%
166,604	e	Saks, Inc		3,556,995
107,039		Target Corp		6,807,680
170,213		TJX Cos, Inc		4,680,858
55,366		Wal-Mart Stores, Inc		2,663,658
		TOTAL GENERAL MERCHANDISE STORES		17,709,191
HEALTH SERVICES - 1.00%
82,542	*	Medco Health Solutions, Inc		6,437,451
62,742	e	Mindray Medical International Ltd (ADR)		1,915,513
		TOTAL HEALTH SERVICES		8,352,964
HOLDING AND OTHER INVESTMENT OFFICES - 0.47%
12,747		AvalonBay Communities, Inc		1,515,363
63,338		Digital Realty Trust, Inc		2,386,576
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		3,901,939
HOTELS AND OTHER LODGING PLACES - 1.42%
57,471		Accor S.A.		5,080,481
32,056	e*	MGM Mirage		2,643,979
76,969	e	Orient-Express Hotels Ltd (Class A)		4,110,145
		TOTAL HOTELS AND OTHER LODGING PLACES		11,834,605
INDUSTRIAL MACHINERY AND EQUIPMENT - 8.17%
43,407		Alstom		7,238,235
55,316		Deere & Co		6,678,854
564,127		General Electric Co		21,594,782
342,500		Hewlett-Packard Co		15,282,350
84,993		International Business Machines Corp		8,945,513
122,429		International Game Technology		4,860,431
77,862	e*	Riverbed Technology, Inc		3,411,913
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		68,012,078
INSTRUMENTS AND RELATED PRODUCTS - 2.91%
203,505		Emerson Electric Co		9,524,034
82,955		Medtronic, Inc		4,302,046
66,381	e*	Millipore Corp		4,984,549
104,294	*	Thermo Electron Corp		5,394,086
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		24,204,715
INSURANCE AGENTS, BROKERS AND SERVICE - 0.86%
72,244		Hartford Financial Services Group, Inc		7,116,756
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		7,116,756
INSURANCE CARRIERS - 3.40%
165,841		ACE Ltd		10,368,379
78,059		Aflac, Inc		4,012,233

7

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
198,305		American International Group, Inc	$	13,887,299
		TOTAL INSURANCE CARRIERS		28,267,911
MISCELLANEOUS RETAIL - 0.50%
36,234	e*	Nutri/System, Inc		2,530,583
30,975	e	Tiffany & Co		1,643,534
		TOTAL MISCELLANEOUS RETAIL		4,174,117
MOTION PICTURES - 1.35%
111,329	e*	Discovery Holding Co (Class A)		2,559,454
101,835	*	DreamWorks Animation SKG, Inc (Class A)		2,936,921
137,589	*	Viacom, Inc (Class B)		5,727,830
		TOTAL MOTION PICTURES		11,224,205
NONDEPOSITORY INSTITUTIONS - 3.45%
140,577		American Express Co		8,600,501
69,057	*	Discover Financial Services		1,968,125
130,044		Fannie Mae		8,495,775
138,114	v*	Morgan Stanley & Co		9,616,878
		TOTAL NONDEPOSITORY INSTITUTIONS		28,681,279
OIL AND GAS EXTRACTION - 3.54%
40,309		Baker Hughes, Inc		3,391,196
77,684	*	Cameron International Corp		5,552,076
122,540	*	Pride International, Inc		4,590,348
141,774		Schlumberger Ltd		12,042,284
66,500		Smith International, Inc		3,899,560
		TOTAL OIL AND GAS EXTRACTION		29,475,464
PAPER AND ALLIED PRODUCTS - 0.81%
115,416		Anglo American plc		6,776,281
		TOTAL PAPER AND ALLIED PRODUCTS		6,776,281
PETROLEUM AND COAL PRODUCTS - 6.67%
87,987		Cabot Oil & Gas Corp		3,244,961
124,310		Devon Energy Corp		9,732,230
388,372		Exxon Mobil Corp		32,576,643
132,964		Marathon Oil Corp		7,972,521
16,173		Petroleo Brasileiro S.A. (ADR)		1,961,300
		TOTAL PETROLEUM AND COAL PRODUCTS		55,487,655
PRIMARY METAL INDUSTRIES - 0.16%
31,779		Alcoa, Inc		1,288,003
		TOTAL PRIMARY METAL INDUSTRIES		1,288,003
REAL ESTATE - 0.23%
104,000		Urban Corp		1,889,038
		TOTAL REAL ESTATE		1,889,038
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.70%
77,592		Bayer AG.		5,844,718
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		5,844,718

8

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 1.33%
53,257	e	AllianceBernstein Holding LP	$	4,638,152
87,661	e	Lazard Ltd (Class A)		3,947,375
33,097		Lehman Brothers Holdings, Inc		2,466,388
		TOTAL SECURITY AND COMMODITY BROKERS		11,051,915
STONE, CLAY, AND GLASS PRODUCTS - 0.29%
28,230		3M Co		2,450,082
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		2,450,082
TOBACCO PRODUCTS - 3.00%
316,588		Altria Group, Inc		22,205,482
42,235	e	Reynolds American, Inc		2,753,722
		TOTAL TOBACCO PRODUCTS		24,959,204
TRANSPORTATION EQUIPMENT - 3.62%
130,446		Boeing Co		12,543,687
49,780		Harsco Corp		2,588,560
102,562		ITT Industries, Inc		7,002,933
71,863		Raytheon Co		3,872,697
57,753		United Technologies Corp		4,096,420
		TOTAL TRANSPORTATION EQUIPMENT		30,104,297
WHOLESALE TRADE-NONDURABLE GOODS - 0.25%
52,335	e	Herbalife Ltd		2,075,083
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,075,083
		TOTAL COMMON STOCKS		829,180,272
		(Cost $667,803,491)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 8.10%
U.S. GOVERNMENT AGENCIES AND DISCOUNT NOTES - 0.07%
$      590,000		Federal Home Loan Bank (FHLB) 4.800%, 07/02/07		590,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 8.03%
66,814,589		State Street Navigator Securities Lending Prime Portfolio		66,814,589
		TOTAL SHORT- TERM INVESTMENTS		67,404,589
		(Cost $67,404,510)
		TOTAL PORTFOLIO - 107.76%		896,584,861
		(Cost $735,208,001)
		OTHER ASSETS & LIABILITIES, NET - (7.76)%		(64,544,712	)
		NET ASSETS - 100.00%	$	832,040,149
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
	v	Security valued at fair value.

9

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INTERNATIONAL EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.26%
AMUSEMENT AND RECREATION SERVICES - 0.10%
6,300		Nintendo Co Ltd	$	2,298,514
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,298,514
BUSINESS SERVICES - 3.96%
924,255		Adecco S.A.		71,502,319
14,705,500		Huabao International Holdings Ltd		14,199,560
400		NTT Data Corp		1,897,806
322,875		WPP Group plc		4,829,072
		TOTAL BUSINESS SERVICES		92,428,757
CHEMICALS AND ALLIED PRODUCTS - 1.83%
1,369	*	Arkema		89,491
974,200		Daiichi Sankyo Co Ltd		25,848,075
230,081		Reckitt Benckiser plc		12,595,913
59,546		Shin-Etsu Chemical Co Ltd		4,251,441
		TOTAL CHEMICALS AND ALLIED PRODUCTS		42,784,920
COAL MINING - 1.40%
21,740,000	*	China Coal Energy Co		32,639,121
		TOTAL COAL MINING		32,639,121
COMMUNICATIONS - 0.60%
432		Nippon Telegraph & Telephone Corp		1,911,737
1,166		NTT DoCoMo, Inc		1,844,144
558,287		Royal KPN NV		9,262,425
445,000		Singapore Telecommunications Ltd		989,690
		TOTAL COMMUNICATIONS		14,007,996
DEPOSITORY INSTITUTIONS - 4.78%
115,122		Australia & New Zealand Banking Group Ltd		2,827,533
80,168		Commonwealth Bank of Australia		3,750,471
70,305		DBS Group Holdings Ltd		1,047,513
570,109		Fortis		24,163,401
356,049		Julius Baer Holding AG.		25,475,217
103,015		National Australia Bank Ltd		3,580,041
1,021,296		Nordea Bank AB		15,951,512
158,000		Oversea-Chinese Banking Corp		944,523
113,984	e	Societe Generale		21,118,775
790	e	Sumitomo Mitsui Financial Group, Inc		7,364,701
70,000		United Overseas Bank Ltd		1,006,288
114,824		Westpac Banking Corp		2,493,377
445,993	*	Yes Bank Ltd		1,974,107
		TOTAL DEPOSITORY INSTITUTIONS		111,697,459

10

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 3.06%
41,500		Chubu Electric Power Co, Inc	$	1,101,124
2,139,615		Fortum Oyj		66,857,593
48,000		Kansai Electric Power Co, Inc		1,135,199
76,000		Tokyo Electric Power Co, Inc		2,444,685
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		71,538,601
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 2.67%
16,860		Fanuc Ltd		1,740,177
691,880		Hoya Corp		22,951,816
29,730		Kyocera Corp		3,158,420
121,000		Matsushita Electric Industrial Co Ltd		2,397,877
6,100		Murata Manufacturing Co Ltd		458,967
63,000		Sharp Corp		1,194,322
87,860		Sony Corp		4,510,011
267,600		TDK Corp		25,899,173
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		62,310,763
FOOD AND KINDRED PRODUCTS - 1.83%
509,414		Groupe Danone		41,143,415
736,900		Olam International Ltd		1,486,516
		TOTAL FOOD AND KINDRED PRODUCTS		42,629,931
FOOD STORES - 7.23%
2,276,886	e	Carrefour S.A.		159,914,349
51,400		Seven & I Holdings Co Ltd		1,469,288
544,986		Tesco plc		4,559,734
120,906		Woolworths Ltd		2,763,056
		TOTAL FOOD STORES		168,706,427
GENERAL BUILDING CONTRACTORS - 0.32%
276,678		Fletcher Building Ltd		2,635,216
8,420,884		Shanghai Forte Land Co		4,747,268
		TOTAL GENERAL BUILDING CONTRACTORS		7,382,484
HEAVY CONSTRUCTION, EXCEPT BUILDING - 2.54%
794,141	e	Vinci S.A.		59,272,370
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		59,272,370
HOLDING AND OTHER INVESTMENT OFFICES - 4.32%
5,655,808		Ashmore Group plc		30,474,751
1,067,445		GEA Group AG.		36,897,325
1,768		GPT Group		6,969
459,000		Japan Asia Investment Co Ltd		2,868,794
34,800		JFE Holdings, Inc		2,163,035
2,329,034		Man Group plc		28,330,188
95,143		Noble Group Ltd		107,176
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		100,848,238
HOTELS AND OTHER LODGING PLACES - 2.98%
786,248		Accor S.A.		69,504,935
		TOTAL HOTELS AND OTHER LODGING PLACES		69,504,935
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.18%
137,650	e	Canon, Inc		8,072,213

11

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
787,329	*	Deutz AG.	$	10,212,421
73,520		FUJIFILM Holdings Corp		3,286,013
164,180		Komatsu Ltd		4,758,445
199,249	e	Krones AG.		46,178,558
200,000		Mitsubishi Heavy Industries Ltd		1,280,905
95,000		Mitsui & Co Ltd		1,895,916
143,500	e	Modec, Inc		5,616,595
398,857		Rheinmetall AG.		36,990,552
97,900		Sumitomo Heavy Industries Ltd		1,106,797
180,000		Toshiba Corp		1,568,302
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		120,966,717
INSTRUMENTS AND RELATED PRODUCTS - 2.42%
452,749		Phonak Holding AG.		40,584,116
237,534		Tecan Group AG.		15,951,104
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		56,535,220
INSURANCE AGENTS, BROKERS AND SERVICE - 0.06%
50,091		QBE Insurance Group Ltd		1,321,651
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		1,321,651
INSURANCE CARRIERS - 1.41%
133,021		Admiral Group plc		2,360,044
43,942		Millea Holdings, Inc		1,806,555
21,795		T&D Holdings, Inc		1,471,901
87,870		Zurich Financial Services AG.		27,163,290
		TOTAL INSURANCE CARRIERS		32,801,790
METAL MINING - 2.99%
218,030		BHP Billiton Ltd		6,514,896
268,296		MMC Norilsk Nickel (ADR)		59,561,712
31,709	e	Polyus Gold (ADR)		1,332,571
29,213	e	Rio Tinto Ltd		2,436,882
		TOTAL METAL MINING		69,846,061
MISCELLANEOUS RETAIL - 0.12%
133,000		Hutchison Whampoa Ltd		1,320,297
182,445		Origin Energy Ltd		1,534,113
		TOTAL MISCELLANEOUS RETAIL		2,854,410
NONDEPOSITORY INSTITUTIONS - 4.50%
1,706,819		Collins Stewart plc		7,509,983
602,233	e	Deutsche Postbank AG.		52,803,913
440,269		Hypo Real Estate Holding AG.		28,454,859
1,812,817		Tullett Prebon plc		16,195,451
		TOTAL NONDEPOSITORY INSTITUTIONS		104,964,206
OIL AND GAS EXTRACTION - 0.99%
60,732	*	Compagnie Generale de Geophysique S.A.		15,155,770
143,388	*	Integra Group Holdings (GDR)		2,609,662
40,317	e	Total S.A.		3,268,831
55,934		Woodside Petroleum Ltd		2,162,283
		TOTAL OIL AND GAS EXTRACTION		23,196,546

12

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
PETROLEUM AND COAL PRODUCTS - 1.88%
2,776,501		BP plc	$	33,407,733
289,626		ENI S.p.A.		10,501,088
		TOTAL PETROLEUM AND COAL PRODUCTS		43,908,821
PRIMARY METAL INDUSTRIES - 0.26%
651,400		Nippon Steel Corp		4,582,277
254,000		Sumitomo Metal Industries Ltd		1,493,308
		TOTAL PRIMARY METAL INDUSTRIES		6,075,585
RAILROAD TRANSPORTATION - 0.16%
495		East Japan Railway Co		3,814,079
		TOTAL RAILROAD TRANSPORTATION		3,814,079
REAL ESTATE - 5.93%
659,400		Atrium Co Ltd		17,881,289
18		City Developments Ltd		203
5,636		ORIX Corp		1,485,578
7,247		Risa Partners, Inc		19,739,351
5,395,300		Urban Corp		97,999,295
80,316		Westfield Group		1,355,193
		TOTAL REAL ESTATE		138,460,909
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 9.26%
2,868,788	e	Bayer AG.		216,095,163
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		216,095,163
SECURITY AND COMMODITY BROKERS - 0.14%
15,536		Macquarie Bank Ltd		1,115,877
110,300		Nomura Holdings, Inc		2,142,397
		TOTAL SECURITY AND COMMODITY BROKERS		3,258,274
SPECIAL TRADE CONTRACTORS - 0.06%
152,700		Takasago Thermal Engineering Co Ltd		1,441,965
		TOTAL SPECIAL TRADE CONTRACTORS		1,441,965
STONE, CLAY, AND GLASS PRODUCTS - 6.65%
313,906		Holcim Ltd		33,901,099
17,207,000		Nippon Sheet Glass Co Ltd		78,550,690
16,167,200		Sumitomo Osaka Cement Co Ltd		42,826,554
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		155,278,343
TOBACCO PRODUCTS - 1.49%
7,083		Japan Tobacco, Inc		34,913,851
		TOTAL TOBACCO PRODUCTS		34,913,851
TRANSPORTATION BY AIR - 0.02%
34,000		Singapore Airlines Ltd		417,827
		TOTAL TRANSPORTATION BY AIR		417,827
TRANSPORTATION EQUIPMENT - 7.80%
43,060		Denso Corp		1,684,105
2,910,656		Fiat S.p.A.		86,454,866
549,686		Siemens AG.		78,715,964

13

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
243,460		Toyota Motor Corp	$	15,354,144
		TOTAL TRANSPORTATION EQUIPMENT		182,209,079
TRUCKING AND WAREHOUSING - 5.06%
3,651,152		Deutsche Post AG.		118,191,543
		TOTAL TRUCKING AND WAREHOUSING		118,191,543
WHOLESALE TRADE-DURABLE GOODS - 4.19%
1,319,765		Kloeckner & Co AG.		95,100,535
141,000		Nissan Motor Co Ltd		1,509,531
67,050		Sumitomo Corp		1,222,425
		TOTAL WHOLESALE TRADE-DURABLE GOODS		97,832,491
WHOLESALE TRADE-NONDURABLE GOODS - 1.07%
85,110		Mitsubishi Corp		2,230,055
32,023,000		Sinochem Hong Kong Holding Ltd		22,658,988
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		24,889,043
		TOTAL COMMON STOCKS
		(Cost $1,949,035,495)		2,317,324,090
SHORT-TERM INVESTMENTS - 4.41%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 4.41%
102,925,450		State Street Navigator Securities Lending Prime Portfolio		102,925,450
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $102,925,450)		102,925,450
		TOTAL PORTFOLIO - 103.67%
		(Cost $2,051,960,945)		2,420,249,540
		OTHER ASSETS & LIABILITIES, NET - (3.67)%		(85,582,524	)
		NET ASSETS - 100.00%	$	2,334,667,016
		ABBREVIATION:
		ADR - American Depositary Receipt
		GDR - Global Depositary Receipt
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.

14

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
June 30, 2007
			% OF
			MARKET
COUNTRY		VALUE	VALUE
DOMESTIC
UNITED STATES OF AMERICA	$	102,925,450	4.25	%
TOTAL DOMESTIC		102,925,450	4.25
FOREIGN
AUSTRALIA		31,862,342	1.32
BELGIUM		24,163,401	1.00
CAYMAN ISLANDS		2,609,662	0.11
FINLAND		66,857,593	2.76
FRANCE		369,467,938	15.27
GERMANY		719,640,833	29.73
HONG KONG		75,565,222	3.12
INDIA		1,974,107	0.08
ITALY		96,955,955	4.01
JAPAN		478,643,843	19.78
NETHERLANDS		9,262,424	0.38
NEW ZEALAND		2,635,215	0.11
RUSSIA		60,894,283	2.51
SINGAPORE		5,999,736	0.25
SWEDEN		15,951,512	0.66
SWITZERLAND		214,577,145	8.87
UNITED KINGDOM		140,262,879	5.79
TOTAL FOREIGN		2,317,324,090	95.75
TOTAL PORTFOLIO	$	2,420,249,540	100.00	%

15

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP GROWTH FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.51%
AMUSEMENT AND RECREATION SERVICES - 1.57%
268,741	*	Activision, Inc	$	5,017,394
10,800		Nintendo Co Ltd		3,940,309
		TOTAL AMUSEMENT AND RECREATION SERVICES		8,957,703
APPAREL AND OTHER TEXTILE PRODUCTS - 0.83%
47,964		Polo Ralph Lauren Corp		4,705,748
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		4,705,748
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.31%
243,340		Lowe's Cos, Inc		7,468,105
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		7,468,105
BUSINESS SERVICES - 13.71%
268,028	*	Adobe Systems, Inc		10,761,324
204,365	*	eBay, Inc		6,576,466
129,632	*	Electronic Arts, Inc		6,134,186
35,329	*	Google, Inc (Class A)		18,490,492
150,742	*	Juniper Networks, Inc		3,794,176
4,700	*	Limelight Networks, Inc		92,966
294,857		Microsoft Corp		8,689,436
155,000		Omnicom Group, Inc		8,202,600
291,265	*	Oracle Corp		5,740,833
355,462	*	Yahoo!, Inc		9,643,684
		TOTAL BUSINESS SERVICES		78,126,163
CHEMICALS AND ALLIED PRODUCTS - 14.71%
225,882		Abbott Laboratories		12,095,981
164,989		Colgate-Palmolive Co		10,699,537
74,124	*	Genentech, Inc		5,608,222
275,812	*	Gilead Sciences, Inc		10,693,231
69,802	*	Keryx Biopharmaceuticals, Inc		681,966
198,664		Merck & Co, Inc		9,893,467
166,179		Monsanto Co		11,223,730
360,991		Schering-Plough Corp		10,988,566
33,151		Shire plc (ADR)		2,457,484
228,925		Teva Pharmaceutical Industries Ltd (ADR)		9,443,156
		TOTAL CHEMICALS AND ALLIED PRODUCTS		83,785,340
COMMUNICATIONS - 2.62%
103,858		America Movil S.A. de C.V. (Series L) (ADR)		6,431,926
109,046		AT&T, Inc		4,525,409
140,318	e*	Comcast Corp (Class A)		3,945,742
		TOTAL COMMUNICATIONS		14,903,077
DEPOSITORY INSTITUTIONS - 0.67%
108,620		Wells Fargo & Co		3,820,165
		TOTAL DEPOSITORY INSTITUTIONS		3,820,165

16

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 0.84%
152,533		Fortum Oyj	$	4,766,273
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		4,766,273
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 15.21%
119,398	*	Apple Computer, Inc		14,571,332
659,053	*	Cisco Systems, Inc		18,354,626
172,791		Cooper Industries Ltd (Class A)		9,864,638
186,959		Intel Corp		4,442,146
134,221		Maxim Integrated Products, Inc		4,484,324
60,395	*	MEMC Electronic Materials, Inc		3,691,342
117		Motorola, Inc		2,071
89,776		National Semiconductor Corp		2,537,968
107,971	*	Network Appliance, Inc		3,152,753
99,696	*	Nvidia Corp		4,118,442
145,471	*	Polycom, Inc		4,887,826
340,615		Qualcomm, Inc		14,779,285
47,308		Texas Instruments, Inc		1,780,200
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		86,666,953
ENGINEERING AND MANAGEMENT SERVICES - 3.10%
144,844	e*	Celgene Corp		8,303,907
39,259	e	Fluor Corp		4,372,275
7	*	KBR, Inc		184
35,371	*	McDermott International, Inc		2,940,038
51,697		Paychex, Inc		2,022,387
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		17,638,791
FOOD AND KINDRED PRODUCTS - 2.79%
24,215		Kraft Foods, Inc (Class A)		853,579
231,872		PepsiCo, Inc		15,036,899
		TOTAL FOOD AND KINDRED PRODUCTS		15,890,478
FURNITURE AND HOMEFURNISHINGS STORES - 0.85%
123,696	*	GameStop Corp (Class A)		4,836,514
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		4,836,514
GENERAL MERCHANDISE STORES - 1.91%
170,912		Target Corp		10,870,003
		TOTAL GENERAL MERCHANDISE STORES		10,870,003
HEALTH SERVICES - 0.77%
56,288	*	Medco Health Solutions, Inc		4,389,901
		TOTAL HEALTH SERVICES		4,389,901
HOLDING AND OTHER INVESTMENT OFFICES - 0.37%
28,838	*	Blackstone Group LP/The		844,088
756	e	Hugoton Royalty Trust		19,074
20,597		iShares Russell 1000 Growth Index Fund		1,219,548
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		2,082,710
HOTELS AND OTHER LODGING PLACES - 2.23%
243,814		Hilton Hotels Corp		8,160,455
67,994	e	Starwood Hotels & Resorts Worldwide, Inc		4,560,358
		TOTAL HOTELS AND OTHER LODGING PLACES		12,720,813

17

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.05%
40,042		Alstom	$	6,677,112
37,186		Caterpillar, Inc		2,911,664
88,855	*	Dell, Inc		2,536,810
273,614		Hewlett-Packard Co		12,208,657
152,724		International Game Technology		6,063,143
50,413		Manitowoc Co, Inc		4,052,197
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		34,449,583
INSTRUMENTS AND RELATED PRODUCTS - 4.44%
23,705		Alcon, Inc		3,198,042
259,397		Emerson Electric Co		12,139,780
50,372	*	Hologic, Inc		2,786,075
84,765	*	Zimmer Holdings, Inc		7,195,701
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		25,319,598
INSURANCE CARRIERS - 0.81%
92,995		Aetna, Inc		4,593,953
		TOTAL INSURANCE CARRIERS		4,593,953
LEATHER AND LEATHER PRODUCTS - 1.27%
152,952	*	Coach, Inc		7,248,395
		TOTAL LEATHER AND LEATHER PRODUCTS		7,248,395
MISCELLANEOUS RETAIL - 1.70%
265,184		CVS Corp		9,665,957
		TOTAL MISCELLANEOUS RETAIL		9,665,957
MOTION PICTURES - 0.00%**
270	*	Viacom, Inc (Class B)		11,240
		TOTAL MOTION PICTURES		11,240
NONDEPOSITORY INSTITUTIONS - 2.08%
194,095		American Express Co		11,874,732
		TOTAL NONDEPOSITORY INSTITUTIONS		11,874,732
OIL AND GAS EXTRACTION - 4.19%
147		Halliburton Co		5,072
35,634	*	National Oilwell Varco, Inc		3,714,488
117,744		Schlumberger Ltd		10,001,175
168,879		XTO Energy, Inc		10,149,628
		TOTAL OIL AND GAS EXTRACTION		23,870,363
PAPER AND ALLIED PRODUCTS - 1.24%
120,598		Anglo American plc		7,080,525
		TOTAL PAPER AND ALLIED PRODUCTS		7,080,525
PETROLEUM AND COAL PRODUCTS - 1.51%
67,704		Apache Corp		5,523,969
34,274	*	Suncor Energy, Inc		3,081,918
		TOTAL PETROLEUM AND COAL PRODUCTS		8,605,887
PRIMARY METAL INDUSTRIES - 0.82%
167,658		BHP Billiton plc		4,657,346
		TOTAL PRIMARY METAL INDUSTRIES		4,657,346
RAILROAD TRANSPORTATION - 0.50%
63,721		CSX Corp		2,872,543
		TOTAL RAILROAD TRANSPORTATION		2,872,543

18

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 5.49%
553,931		Charles Schwab Corp	$	11,366,664
14,235		Chicago Mercantile Exchange Holdings, Inc		7,606,615
56,645		Goldman Sachs Group, Inc		12,277,804
		TOTAL SECURITY AND COMMODITY BROKERS		31,251,083
TOBACCO PRODUCTS - 0.02%
1,587		Altria Group, Inc		111,312
		TOTAL TOBACCO PRODUCTS		111,312
TRANSPORTATION EQUIPMENT - 5.90%
142,131		Boeing Co		13,667,317
104,065		ITT Industries, Inc		7,105,558
180,911		United Technologies Corp		12,832,013
		TOTAL TRANSPORTATION EQUIPMENT		33,604,888
		TOTAL COMMON STOCKS
		(Cost $484,483,206)		566,846,142
SHORT-TERM INVESTMENTS - 0.34%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.34%
1,947,151		State Street Navigator Securities Lending Prime Portfolio		1,947,151
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $1,947,151)		1,947,151
		TOTAL PORTFOLIO - 99.85%
		(Cost $486,430,357)		568,793,293
		OTHER ASSETS & LIABILITIES, NET - 0.15%		885,336
		NET ASSETS - 100.00%	$	569,678,629
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing.
	**	Percentage represents less than 0.01%.
	e	All or a portion of these securities are out on loan.

19

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP VALUE FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 94.34%
APPAREL AND ACCESSORY STORES - 2.29%
1,203,005		Gap, Inc	$	22,977,396
		TOTAL APPAREL AND ACCESSORY STORES		22,977,396
APPAREL AND OTHER TEXTILE PRODUCTS - 0.04%
4,023		Liz Claiborne, Inc		150,058
3,049	e	VF Corp		279,227
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		429,285
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.77%
195,896		Home Depot, Inc		7,708,508
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		7,708,508
BUSINESS SERVICES - 3.14%
92,300	*	Computer Sciences Corp		5,459,545
793	*	Data Domain, Inc		18,239
152,726		Fidelity National Information Services, Inc		8,289,967
7,747	*	Limelight Networks, Inc		153,236
414,164	*	Novell, Inc		3,226,338
17,008,045		Solomon Systech International Ltd		2,432,741
114,054	*	VeriSign, Inc		3,618,933
305,506	*	Yahoo!, Inc		8,288,378
		TOTAL BUSINESS SERVICES		31,487,377
CHEMICALS AND ALLIED PRODUCTS - 6.92%
73,181	*	Amgen, Inc		4,046,177
164,999		Bristol-Myers Squibb Co		5,207,368
99,067		Colgate-Palmolive Co		6,424,495
26,300		Eli Lilly & Co		1,469,644
73,818	*	Invitrogen Corp		5,444,078
152,261		Methanex Corp		3,779,189
866,134		Pfizer, Inc		22,147,046
131,096		PPG Industries, Inc		9,977,717
46,943		Procter & Gamble Co		2,872,442
90,792	*	Vertex Pharmaceuticals, Inc		2,593,020
190,410	e*	Warner Chilcott Ltd (Class A)		3,444,517
33,096		Wyeth		1,897,725
		TOTAL CHEMICALS AND ALLIED PRODUCTS		69,303,418
COAL MINING - 0.84%
380,000	e*	International Coal Group, Inc		2,272,400
127,648		Peabody Energy Corp		6,175,610
		TOTAL COAL MINING		8,448,010
COMMUNICATIONS - 5.36%
327,983		AT&T, Inc		13,611,295

20

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
80,000	e	Manitoba Telecom Services, Inc	$	3,521,427
1,203,703		Sprint Nextel Corp		24,928,689
330,000		Telekom Austria AG.		8,217,930
15,434,995	*	True Corp PCL		3,442,126
		TOTAL COMMUNICATIONS		53,721,467
DEPOSITORY INSTITUTIONS - 18.40%
575,400		AMMB Holdings BHD		720,377
130,116		Astoria Financial Corp		3,258,105
55,449		Bank of America Corp		2,710,902
709,894		Bank of New York Co		29,418,007
42,700		Bank of the Ryukyus Ltd		708,270
875,083		Citigroup, Inc		44,883,007
207,224		Colonial Bancgroup, Inc		5,174,383
229,700	e	First Horizon National Corp		8,958,300
493,038		JPMorgan Chase & Co		23,887,691
603		National City Corp		20,092
307,981		SunTrust Banks, Inc		26,406,291
373,881	e	TCF Financial Corp		10,393,892
24,665		Wachovia Corp		1,264,081
756,215	e	Wells Fargo & Co		26,596,082
		TOTAL DEPOSITORY INSTITUTIONS		184,399,480
EATING AND DRINKING PLACES - 1.88%
768,441		Compass Group plc		5,306,110
307,387		Darden Restaurants, Inc		13,521,954
		TOTAL EATING AND DRINKING PLACES		18,828,064
ELECTRIC, GAS, AND SANITARY SERVICES - 3.59%
370,000	*	Allied Waste Industries, Inc		4,980,200
128,703		American Electric Power Co, Inc		5,796,783
27,968		Constellation Energy Group, Inc		2,437,971
8,114		Dominion Resources, Inc		700,319
221,489	e	DPL, Inc		6,276,998
24,163		Duke Energy Corp		442,183
17,547		FirstEnergy Corp		1,135,817
44,546		FPL Group, Inc		2,527,540
6,133		MDU Resources Group, Inc		171,969
41,008	*	Mirant Corp		1,748,991
27,744		PPL Corp		1,298,142
737,920		Sojitz Holdings Corp		3,298,228
30,260		Southern Co		1,037,615
140,000		TECO Energy, Inc		2,405,200
70,000		Westar Energy, Inc		1,699,600
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		35,957,556
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 4.84%
100,000		Advantest Corp		4,354,004
809,314	*	Celestica Inc		5,058,213
97,849	e*	Ciena Corp		3,535,284
176,183	e*	Cree, Inc		4,554,331
50,000	*	Fairchild Semiconductor International, Inc		966,000
622,131	e*	Finisar Corp		2,351,655
112,761	e*	Infineon Technologies AG. (ADR)		1,863,939

21

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
261,085	*	Marvell Technology Group Ltd	$	4,754,358
190,286		Maxim Integrated Products, Inc		6,357,455
236,800	e*	Qimonda AG. (ADR)		3,658,560
77,264		Qualcomm, Inc		3,352,485
13,200	g	Samsung Electronics Co Ltd (GDR)		4,069,104
322,279		Taiwan Semiconductor Manufacturing Co Ltd (ADR)		3,586,965
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		48,462,353
ENGINEERING AND MANAGEMENT SERVICES - 0.02%
408	e*	Affymax, Inc		11,000
5,530	*	KBR, Inc		145,052
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		156,052
FABRICATED METAL PRODUCTS - 1.23%
226,611		Illinois Tool Works, Inc		12,280,050
		TOTAL FABRICATED METAL PRODUCTS		12,280,050
FOOD AND KINDRED PRODUCTS - 3.64%
541,705		ConAgra Foods, Inc		14,550,196
370,119		Kraft Foods, Inc (Class A)		13,046,695
136,255		PepsiCo, Inc		8,836,137
		TOTAL FOOD AND KINDRED PRODUCTS		36,433,028
FORESTRY - 0.69%
127,496		Rayonier, Inc		5,755,169
15,000		Weyerhaeuser Co		1,183,950
		TOTAL FORESTRY		6,939,119
FURNITURE AND HOMEFURNISHINGS STORES - 0.56%
368,870	e	Circuit City Stores, Inc		5,562,560
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		5,562,560
GENERAL BUILDING CONTRACTORS - 0.76%
370,100	e	Daikyo, Inc		1,677,117
126,183	e	Standard-Pacific Corp		2,211,988
147,302	e*	Toll Brothers, Inc		3,679,604
		TOTAL GENERAL BUILDING CONTRACTORS		7,568,709
HEALTH SERVICES - 0.50%
277,728	e*	Healthsouth Corp		5,029,654
		TOTAL HEALTH SERVICES		5,029,654
HOLDING AND OTHER INVESTMENT OFFICES - 0.39%
47,896	*	Blackstone Group LP/The		1,401,916
11	e	Cross Timbers Royalty Trust		468
60,167		Plum Creek Timber Co, Inc		2,506,557
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		3,908,941
HOTELS AND OTHER LODGING PLACES - 3.25%
169,491		Accor S.A.		14,983,136
65,000		Hilton Hotels Corp		2,175,550
112,404	*	MGM Mirage		9,271,082
113,933	e	Orient-Express Hotels Ltd (Class A)		6,084,022
		TOTAL HOTELS AND OTHER LODGING PLACES		32,513,790

22

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.41%
17,149		Alstom	$	2,859,642
390		Deere & Co		47,089
580,692		General Electric Co		22,228,890
178,334		International Game Technology		7,079,860
40,318	*	SanDisk Corp		1,973,163
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		34,188,644
INSTRUMENTS AND RELATED PRODUCTS - 2.76%
142,393	e	Cooper Cos, Inc		7,592,395
61,780	*	Eagle Test Systems, Inc		992,187
37,506	*	Hologic, Inc		2,074,457
152,439	*	St. Jude Medical, Inc		6,324,694
207,281	*	Thermo Electron Corp		10,720,573
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		27,704,306
INSURANCE AGENTS, BROKERS AND SERVICE - 0.94%
52,120		AON Corp		2,220,833
73,204		Hartford Financial Services Group, Inc		7,211,326
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		9,432,159
INSURANCE CARRIERS - 5.34%
1,222		Aegon NV		24,012
191,158		Aetna, Inc		9,443,205
57,451		Aspen Insurance Holdings Ltd		1,612,650
15,688		Everest Re Group Ltd		1,704,344
80,359	e	Max Re Capital Ltd		2,274,160
156,190	e	Montpelier Re Holdings Ltd		2,895,763
69,524		PartnerRe Ltd		5,388,110
110,555		Platinum Underwriters Holdings Ltd		3,841,786
307,394	e	Radian Group, Inc		16,599,276
54,623		Travelers Cos, Inc/The		2,922,331
80,321		XL Capital Ltd (Class A)		6,770,257
		TOTAL INSURANCE CARRIERS		53,475,894
MISCELLANEOUS RETAIL - 0.67%
1,056,851	e*	Rite Aid Corp		6,742,709
		TOTAL MISCELLANEOUS RETAIL		6,742,709
MOTION PICTURES - 0.00%**
20		News Corp (Class A)		424
		TOTAL MOTION PICTURES		424
NONDEPOSITORY INSTITUTIONS - 1.97%
40,977		Capital One Financial Corp		3,214,236
248,415		Countrywide Financial Corp		9,029,885
106,803	*	Discover Financial Services		3,043,886
68,940		Fannie Mae		4,503,850
		TOTAL NONDEPOSITORY INSTITUTIONS		19,791,857
OIL AND GAS EXTRACTION - 3.52%
132,339		Anadarko Petroleum Corp		6,880,305
4,149	e	Equitable Resources, Inc		205,624

23

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
276,739		Halliburton Co	$	9,547,496
305,000	*	Integra Group Holdings (GDR)		5,551,000
133,000	*	KazMunaiGas Exploration Production (GDR)		2,904,720
1,745	e	Pogo Producing Co		88,629
269,782	e*	Pride International, Inc		10,106,034
		TOTAL OIL AND GAS EXTRACTION		35,283,808
PAPER AND ALLIED PRODUCTS - 1.43%
119,307		Anglo American plc		7,004,728
25,713		Kimberly-Clark Corp		1,719,943
10,183	*	Smurfit-Stone Container Corp		135,536
89,044		Temple-Inland, Inc		5,478,877
		TOTAL PAPER AND ALLIED PRODUCTS		14,339,084
PETROLEUM AND COAL PRODUCTS - 6.41%
33,170		Apache Corp		2,706,340
178,569		Chevron Corp		15,042,653
37,564		ConocoPhillips		2,948,774
191,092		Devon Energy Corp		14,960,593
73,939		EOG Resources, Inc		5,401,983
34,760		Marathon Oil Corp		2,084,210
248,703		Occidental Petroleum Corp		14,394,930
55,350		Petroleo Brasileiro S.A. (ADR)		6,712,295
		TOTAL PETROLEUM AND COAL PRODUCTS		64,251,778
PIPELINES, EXCEPT NATURAL GAS - 0.03%
12,081		Spectra Energy Corp		313,623
		TOTAL PIPELINES, EXCEPT NATURAL GAS		313,623
PRIMARY METAL INDUSTRIES - 0.55%
67,116	*	Alcan, Inc		5,475,128
		TOTAL PRIMARY METAL INDUSTRIES		5,475,128
REAL ESTATE - 0.60%
1,640,472	*	Unitech Corporate Parks plc		2,986,042
164,400		Urban Corp		2,986,133
		TOTAL REAL ESTATE		5,972,175
SECURITY AND COMMODITY BROKERS - 2.05%
91,384		Bear Stearns Cos, Inc		12,793,760
92,028		Morgan Stanley		7,719,309
		TOTAL SECURITY AND COMMODITY BROKERS		20,513,069
STONE, CLAY, AND GLASS PRODUCTS - 0.13%
40,135	e*	Owens Corning, Inc		1,349,740
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		1,349,740
TEXTILE MILL PRODUCTS - 0.29%
66,330		Oxford Industries, Inc		2,941,072
		TOTAL TEXTILE MILL PRODUCTS		2,941,072
TOBACCO PRODUCTS - 1.82%
260,279		Altria Group, Inc		18,255,969
		TOTAL TOBACCO PRODUCTS		18,255,969

24

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
TRANSPORTATION BY AIR - 0.98%
93,778	e*	AMR Corp	$	2,471,050
342,511	e*	JetBlue Airways Corp		4,024,504
81,261	e*	UAL Corp		3,298,384
		TOTAL TRANSPORTATION BY AIR		9,793,938
TRANSPORTATION EQUIPMENT - 1.49%
1,361,212	e*	Ford Motor Co		12,822,617
55,524	e	General Motors Corp		2,098,807
		TOTAL TRANSPORTATION EQUIPMENT		14,921,424
TRANSPORTATION SERVICES - 0.83%
309,284	e	UTI Worldwide, Inc		8,285,718
		TOTAL TRANSPORTATION SERVICES		8,285,718
WHOLESALE TRADE-DURABLE GOODS - 0.01%
5,846	e*	Solera Holdings, Inc		113,294
		TOTAL WHOLESALE TRADE-DURABLE GOODS		113,294
		TOTAL COMMON STOCKS		945,260,630
		(Cost $867,496,597)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 16.29%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 5.40%
$      54,170,000		Federal Home Loan Bank (FHLB) 4.800%, 07/02/07		54,170,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 10.89%
109,074,668		State Street Navigator Securities Lending Prime Portfolio		109,074,668
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $163,237,445)		163,244,668
		TOTAL PORTFOLIO - 110.63%
		(Cost $1,030,734,042)		1,108,505,298
		OTHER ASSETS & LIABILITIES, NET - (10.63)%		(106,507,775	)
		NET ASSETS - 100.00%	$	1,001,997,523
		ABBREVIATION:
		ADR - American Depositary Receipt
		GDR - Global Depositary Receipt
	*	Non-income producing.
	**	Percentage represents less than 0.01%.
	e	All or a portion of these securities are out on loan.
	g	Security is exempt from registration under Rule 144 (A) of the Securities Act of 1933 and may be resold
		transaction exempt from registration to qualified institutional buyers.

25

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP GROWTH FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.24%
AMUSEMENT AND RECREATION SERVICES - 0.64%
119,705	*	Activision, Inc	$	2,234,892
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,234,892
APPAREL AND ACCESSORY STORES - 1.02%
114,233		Ross Stores, Inc		3,518,376
		TOTAL APPAREL AND ACCESSORY STORES		3,518,376
APPAREL AND OTHER TEXTILE PRODUCTS - 2.58%
68,204	e	Guess ?, Inc		3,276,520
57,401	e	Polo Ralph Lauren Corp		5,631,612
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		8,908,132
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.88%
99,384	*	Copart, Inc		3,040,157
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		3,040,157
BUSINESS SERVICES - 9.43%
88,567	*	Adobe Systems, Inc		3,555,965
106,120	e*	Akamai Technologies, Inc		5,161,677
51,717	e*	Cavium Networks, Inc		1,169,839
24,946	e*	Cerner Corp		1,383,755
40,797	e*	Citrix Systems, Inc		1,373,635
31,511	*	Cognizant Technology Solutions Corp (Class A)		2,366,161
22,154	e*	DST Systems, Inc		1,754,818
25,906	e*	F5 Networks, Inc		2,088,024
75,841	e*	Focus Media Holding Ltd (ADR)		3,829,971
98,198	e*	H&E Equipment Services, Inc		2,724,013
44,948	e	Omnicom Group, Inc		2,378,648
243,640	e*	Sonus Networks, Inc		2,075,813
115,365	e*	Sybase, Inc		2,756,070
		TOTAL BUSINESS SERVICES		32,618,389
CHEMICALS AND ALLIED PRODUCTS - 4.85%
52,896	e*	Abraxis BioScience, Inc		1,175,878
25,960		Air Products & Chemicals, Inc		2,086,405
37,851	e	Church & Dwight Co, Inc		1,834,259
91,918		Ecolab, Inc		3,924,899
59,619	*	Hospira, Inc		2,327,526
31,158	e	Shire plc (ADR)		2,309,743
82,788	*	VCA Antech, Inc		3,120,280
		TOTAL CHEMICALS AND ALLIED PRODUCTS		16,778,990
COAL MINING - 1.01%
76,022	e	Consol Energy, Inc		3,505,374
		TOTAL COAL MINING		3,505,374

26

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
COMMUNICATIONS - 4.64%
102,699	*	American Tower Corp (Class A)	$	4,313,358
116,030	e*	Aruba Networks, Inc		2,332,203
85,086	e*	Crown Castle International Corp		3,086,069
96,733	e*	NeuStar, Inc (Class A)		2,802,355
43,414	*	NII Holdings, Inc		3,505,246
		TOTAL COMMUNICATIONS		16,039,231
DEPOSITORY INSTITUTIONS - 0.57%
70,843	e	TCF Financial Corp		1,969,435
		TOTAL DEPOSITORY INSTITUTIONS		1,969,435
EATING AND DRINKING PLACES - 1.94%
47,084	e*	Chipotle Mexican Grill, Inc (Class A)		4,015,324
82,538		Yum! Brands, Inc		2,700,643
		TOTAL EATING AND DRINKING PLACES		6,715,967
ELECTRIC, GAS, AND SANITARY SERVICES - 3.04%
39,783		Constellation Energy Group, Inc		3,467,884
180,592	e*	Covanta Holding Corp		4,451,593
62,521	e*	NRG Energy, Inc		2,598,998
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		10,518,475
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 11.18%
70,545		Analog Devices, Inc		2,655,314
155,686	*	Fairchild Semiconductor International, Inc		3,007,854
37,276	e	Harris Corp		2,033,406
67,177	e*	JA Solar Holdings Co Ltd (ADR)		2,265,880
41,754	e	L-3 Communications Holdings, Inc		4,066,422
76,586		Maxim Integrated Products, Inc		2,558,738
58,986	e*	MEMC Electronic Materials, Inc		3,605,224
57,973		Microchip Technology, Inc		2,147,320
108,257	*	Network Appliance, Inc		3,161,104
103,106	*	Nvidia Corp		4,259,309
129,219	*	Polycom, Inc		4,341,758
97,778	*	Starent Networks Corp		1,437,337
54,128	*	Thomas & Betts Corp		3,139,424
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		38,679,090
ENGINEERING AND MANAGEMENT SERVICES - 2.78%
81,071	e*	Jacobs Engineering Group, Inc		4,662,393
126,382		Paychex, Inc		4,944,064
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		9,606,457
FOOD AND KINDRED PRODUCTS - 1.72%
54,999	e*	Hansen Natural Corp		2,363,857
93,534	e	McCormick & Co, Inc		3,571,128
		TOTAL FOOD AND KINDRED PRODUCTS		5,934,985
FURNITURE AND HOME FURNISHINGS STORES - 1.21%
107,248	e*	GameStop Corp (Class A)		4,193,397
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		4,193,397

27

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
GENERAL MERCHANDISE STORES - 1.62%
32,164		JC Penney Co, Inc	$	2,328,030
118,994		TJX Cos, Inc		3,272,335
		TOTAL GENERAL MERCHANDISE STORES		5,600,365
HEALTH SERVICES - 1.22%
64,515		Manor Care, Inc		4,212,184
		TOTAL HEALTH SERVICES		4,212,184
HOLDING AND OTHER INVESTMENT OFFICES - 2.68%
23,260		iShares Russell Midcap Growth Index Fund		2,649,547
98,509	e	iStar Financial, Inc		4,366,904
27,340	e	Macerich Co		2,253,363
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		9,269,814
HOTELS AND OTHER LODGING PLACES - 2.48%
161,559		Hilton Hotels Corp		5,407,380
38,199	e*	MGM Mirage		3,150,654
		TOTAL HOTELS AND OTHER LODGING PLACES		8,558,034
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.84%
92,033	*	AuthenTec, Inc		952,542
32,737	e	Flowserve Corp		2,343,969
121,428		International Game Technology		4,820,692
65,762	e*	Netgear, Inc		2,383,873
63,561	e*	Riverbed Technology, Inc		2,785,243
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		13,286,319
INSTRUMENTS AND RELATED PRODUCTS - 9.31%
60,432	*	Agilent Technologies, Inc		2,323,006
91,362		Allergan, Inc		5,266,106
29,673		Bard (C.R.), Inc		2,451,880
46,785	*	Hologic, Inc		2,587,678
36,265	e*	Intuitive Surgical, Inc		5,032,494
60,594	e*	Resmed, Inc		2,500,108
36,857		Rockwell Collins, Inc		2,603,578
91,604	*	St. Jude Medical, Inc		3,800,650
66,178	*	Thermo Electron Corp		3,422,726
68,086	e*	Trimble Navigation Ltd		2,192,369
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		32,180,595
INSURANCE CARRIERS - 0.35%
58,362	e*	First Mercury Financial Corp		1,223,851
		TOTAL INSURANCE CARRIERS		1,223,851
LEATHER AND LEATHER PRODUCTS - 0.99%
72,423	*	Coach, Inc		3,432,126
		TOTAL LEATHER AND LEATHER PRODUCTS		3,432,126
METAL MINING - 1.79%
39,618		Freeport-McMoRan Copper & Gold, Inc (Class B)		3,281,163
30,697	e	Southern Copper Corp		2,893,499
		TOTAL METAL MINING		6,174,662

28

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
MISCELLANEOUS RETAIL - 1.10%
54,667	e*	Nutri/System, Inc	$	3,817,943
		TOTAL MISCELLANEOUS RETAIL		3,817,943
MOTION PICTURES - 0.87%
104,617	e*	DreamWorks Animation SKG, Inc (Class A)		3,017,154
		TOTAL MOTION PICTURES		3,017,154
NONDEPOSITORY INSTITUTIONS - 1.05%
33,134		Textron, Inc		3,648,385
		TOTAL NONDEPOSITORY INSTITUTIONS		3,648,385
OIL AND GAS EXTRACTION - 7.97%
103,438	e*	Denbury Resources, Inc		3,878,925
72,141		Equitable Resources, Inc		3,575,308
49,725	e*	National Oilwell Varco, Inc		5,183,334
23,185		Noble Corp		2,261,001
71,469		Saipem S.p.A.		2,438,554
68,682	e	Smith International, Inc		4,027,512
55,631	e*	Southwestern Energy Co		2,475,580
62,111		XTO Energy, Inc		3,732,871
		TOTAL OIL AND GAS EXTRACTION		27,573,085
PRIMARY METAL INDUSTRIES - 2.29%
38,573		Precision Castparts Corp		4,681,219
101,912	e*	Titanium Metals Corp		3,250,993
		TOTAL PRIMARY METAL INDUSTRIES		7,932,212
PRINTING AND PUBLISHING - 0.68%
34,717		McGraw-Hill Cos, Inc		2,363,533
		TOTAL PRINTING AND PUBLISHING		2,363,533
REAL ESTATE - 2.38%
133,356	e*	CB Richard Ellis Group, Inc (Class A)		4,867,494
54,643	e	Forest City Enterprises, Inc (Class A)		3,359,452
		TOTAL REAL ESTATE		8,226,946
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.87%
86,072	e*	Goodyear Tire & Rubber Co		2,991,863
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		2,991,863
SECURITY AND COMMODITY BROKERS - 3.88%
4,854		Chicago Mercantile Exchange Holdings, Inc		2,593,783
47,699	e	Fortress Investment Group LLC (Class A)		1,136,190
29,650	e*	GFI Group, Inc		2,149,032
17,897	e*	IntercontinentalExchange, Inc		2,646,071
31,264	e	Lazard Ltd (Class A)		1,407,818
67,310		T Rowe Price Group, Inc		3,492,716
		TOTAL SECURITY AND COMMODITY BROKERS		13,425,610
SPECIAL TRADE CONTRACTORS - 0.73%
81,897	e*	Quanta Services, Inc		2,511,781
		TOTAL SPECIAL TRADE CONTRACTORS		2,511,781

29

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
TRANSPORTATION EQUIPMENT - 0.79%
39,744		ITT Industries, Inc	$	2,713,720
		TOTAL TRANSPORTATION EQUIPMENT		2,713,720
WATER TRANSPORTATION - 1.04%
86,980	e	Genco Shipping & Trading Ltd		3,588,795
		TOTAL WATER TRANSPORTATION		3,588,795
WHOLESALE TRADE-DURABLE GOODS - 2.64%
81,087	*	Cytyc Corp		3,495,661
152,913	*	RSC Holdings, Inc		3,058,260
42,848	e*	WESCO International, Inc		2,590,162
		TOTAL WHOLESALE TRADE-DURABLE GOODS		9,144,083
WHOLESALE TRADE-NONDURABLE GOODS - 1.18%
39,059		Wimm-Bill-Dann Foods OJSC (ADR)		4,062,525
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		4,062,525
		TOTAL COMMON STOCKS
		(Cost $285,180,732)		343,216,932
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 28.29%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.28%
$      980,000		Federal Home Loan Bank, 07/02/07		980,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 28.01%
96,872,988		State Street Navigator Securities Lending Prime Portfolio		96,872,988
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $97,852,857)		97,852,988
		TOTAL PORTFOLIO - 127.53%
		(Cost $383,033,589)		441,069,920
		OTHER ASSETS & LIABILITIES, NET - (27.53)%		(95,221,630	)
		NET ASSETS - 100.00%	$	345,848,290
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.

30

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP VALUE FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.61%
AMUSEMENT AND RECREATION SERVICES - 0.29%
42,000	e*	Penn National Gaming, Inc	$	2,523,780
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,523,780
APPAREL AND OTHER TEXTILE PRODUCTS - 0.47%
108,000		Liz Claiborne, Inc		4,028,400
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		4,028,400
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.27%
95,000		Asbury Automotive Group, Inc		2,370,250
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		2,370,250
BUSINESS SERVICES - 4.59%
69,000	*	Affiliated Computer Services, Inc (Class A)		3,913,680
41,000		Automatic Data Processing, Inc		1,987,270
71,000	e*	CACI International, Inc (Class A)		3,468,350
202,000	e*	Computer Sciences Corp		11,948,300
90,000	e*	DynCorp International, Inc (Class A)		1,979,100
350,000	e*	Earthlink, Inc		2,614,500
136,000		Electronic Data Systems Corp		3,771,280
128,000		First Data Corp		4,181,760
150,000	e*	Juniper Networks, Inc		3,775,500
264,000	*	Novell, Inc		2,056,560
		TOTAL BUSINESS SERVICES		39,696,300
CHEMICALS AND ALLIED PRODUCTS - 6.65%
37,000	*	Agrium, Inc		1,621,713
152,000		Alberto-Culver Co		3,605,440
53,000		Clorox Co		3,291,300
165,000	e	Cytec Industries, Inc		10,522,050
86,000	e*	Invitrogen Corp		6,342,500
141,000	*	Keryx Biopharmaceuticals, Inc		1,377,570
188,000		Methanex Corp		4,666,247
159,000		PPG Industries, Inc		12,101,490
93,000	e	Rohm & Haas Co		5,085,240
49,000	e	Sherwin-Williams Co		3,257,030
45,000	e	Sigma-Aldrich Corp		1,920,150
114,000	e*	Theravance, Inc		3,648,000
		TOTAL CHEMICALS AND ALLIED PRODUCTS		57,438,730
COAL MINING - 0.42%
40,000	e	Arch Coal, Inc		1,392,000
46,000	e	Peabody Energy Corp		2,225,480
		TOTAL COAL MINING		3,617,480
COMMUNICATIONS - 2.17%
50,000	*	Cablevision Systems Corp (Class A)		1,809,500
55,000		CenturyTel, Inc		2,697,750
292,976	e*	Crown Media Holdings, Inc (Class A)		2,109,427

31

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
23,000	*	EchoStar Communications Corp (Class A)	$	997,510
54,000	*	Liberty Media Corp - Capital (Series A)		6,354,720
72,000		Manitoba Telecom Services, Inc		3,169,284
50,000	e*	MetroPCS Communications, Inc		1,652,000
		TOTAL COMMUNICATIONS		18,790,191
DEPOSITORY INSTITUTIONS - 7.20%
132,000		Astoria Financial Corp		3,305,280
84,000		Bank of New York Co		3,480,960
198,000		Colonial Bancgroup, Inc		4,944,060
50,000	e	Compass Bancshares, Inc		3,449,000
24,000		Cullen/Frost Bankers, Inc		1,283,280
89,000	e	First Horizon National Corp		3,471,000
116,000		Greater Bay Bancorp		3,229,440
850,000		Hudson City Bancorp, Inc		10,387,000
89,000		Marshall & Ilsley Corp		4,239,070
77,000	e	Northern Trust Corp		4,946,480
33,000	e	PNC Financial Services Group, Inc		2,362,140
103,162	e	South Financial Group, Inc		2,335,588
310,000	e	TCF Financial Corp		8,618,000
159,000	e	Valley National Bancorp		3,575,910
70,000		Western Union Co		1,458,100
15,000		Zions Bancorporation		1,153,650
		TOTAL DEPOSITORY INSTITUTIONS		62,238,958
EATING AND DRINKING PLACES - 0.96%
188,000	e	Darden Restaurants, Inc		8,270,120
		TOTAL EATING AND DRINKING PLACES		8,270,120
ELECTRIC, GAS, AND SANITARY SERVICES - 12.01%
43,000	*	Allegheny Energy, Inc		2,224,820
395,000	*	Allied Waste Industries, Inc		5,316,700
137,000		American Electric Power Co, Inc		6,170,480
112,000		Constellation Energy Group, Inc		9,763,040
165,000	e	DPL, Inc		4,676,100
89,000	e	Edison International		4,994,680
52,000		Energen Corp		2,856,880
62,000		Entergy Corp		6,655,700
29,000		FirstEnergy Corp		1,877,170
128,000		Fortum Oyj		3,999,678
156,600	e	Integrys Energy Group, Inc		7,944,318
71,000	*	Mirant Corp		3,028,150
238,000	e	NorthWestern Corp		7,570,780
186,000	e*	NRG Energy, Inc		7,732,020
195,000		Pepco Holdings, Inc		5,499,000
159,000	e	PPL Corp		7,439,610
123,000	e	Questar Corp		6,500,550
118,000		Southern Union Co		3,845,620
63,000		Williams Cos, Inc		1,992,060
183,000		Xcel Energy, Inc		3,746,010
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		103,833,366
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 4.13%
100,000	e	Alcatel S.A. (ADR)		1,400,000
106,000	e*	Cree, Inc		2,740,100
239,000	*	Fairchild Semiconductor International, Inc		4,617,480
220,000	*	Gemstar-TV Guide International, Inc		1,082,400

32

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
187,000	e*	Infineon Technologies AG. (ADR)	$	3,091,110
97,500	e	L-3 Communications Holdings, Inc		9,495,525
280,800	e*	LSI Logic Corp		2,108,808
91,123	e*	Ocean Power Technologies, Inc		1,443,388
440,000	*	Tellabs, Inc		4,734,400
45,000	e	Whirlpool Corp		5,004,000
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		35,717,211
ENGINEERING AND MANAGEMENT SERVICES - 1.03%
75,000	*	KBR, Inc		1,967,250
27,000	*	McDermott International, Inc		2,244,240
102,000	e*	Shaw Group, Inc		4,721,580
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		8,933,070
FABRICATED METAL PRODUCTS - 1.48%
90,000		Ball Corp		4,785,300
321,000	*	Crown Holdings, Inc		8,015,370
		TOTAL FABRICATED METAL PRODUCTS		12,800,670
FOOD AND KINDRED PRODUCTS - 1.97%
125,000		Del Monte Foods Co		1,520,000
42,000		Hershey Co		2,126,040
66,000		Pepsi Bottling Group, Inc		2,222,880
361,000	e*	Smithfield Foods, Inc		11,115,190
		TOTAL FOOD AND KINDRED PRODUCTS		16,984,110
FOOD STORES - 1.36%
292,000		Kroger Co		8,213,960
76,000		Supervalu, Inc		3,520,320
		TOTAL FOOD STORES		11,734,280
FORESTRY - 0.30%
58,000	e	Rayonier, Inc		2,618,120
		TOTAL FORESTRY		2,618,120
FURNITURE AND HOMEFURNISHINGS STORES - 0.21%
18,000	e*	Mohawk Industries, Inc		1,814,220
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		1,814,220
GENERAL MERCHANDISE STORES - 0.73%
31,500		JC Penney Co, Inc		2,279,970
102,000		Macy's, Inc		4,057,560
		TOTAL GENERAL MERCHANDISE STORES		6,337,530
HEALTH SERVICES - 1.24%
29,500	e*	Coventry Health Care, Inc		1,700,675
63,500	*	DaVita, Inc		3,421,380
204,000	e*	Healthsouth Corp		3,694,440
23,500	*	WellPoint, Inc		1,876,005
		TOTAL HEALTH SERVICES		10,692,500
HEAVY CONSTRUCTION, EXCEPT BUILDING - 1.85%
108,500		Bouygues S.A.		9,090,702
92,000	e	Vinci S.A.		6,866,612
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		15,957,314

33

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
HOLDING AND OTHER INVESTMENT OFFICES - 10.50%
95,000	e	Archstone-Smith Trust	$	5,615,450
45,500		Boston Properties, Inc		4,646,915
35,000		Camden Property Trust		2,343,950
60,000		CBL & Associates Properties, Inc		2,163,000
45,000	e	Douglas Emmett, Inc		1,113,300
50,000		Equity Residential		2,281,500
90,000		General Growth Properties, Inc		4,765,500
80,000	e	Glimcher Realty Trust		2,000,000
61,329	g,m,v*	GSC Capital Corp		507,191
165,000		iShares Russell 1000 Value Index Fund		14,312,100
100,000		iShares Russell Midcap Value Index Fund		15,746,000
91,000		iStar Financial, Inc		4,034,030
75,000		Kimco Realty Corp		2,855,250
32,000	e	Mack-Cali Realty Corp		1,391,680
47,000		Pennsylvania Real Estate Investment Trust		2,083,510
127,000	e	Plum Creek Timber Co, Inc		5,290,820
47,000	e	Post Properties, Inc		2,450,110
89,000		Prologis		5,064,100
31,500		Public Storage, Inc		2,419,830
90,000		Taubman Centers, Inc		4,464,900
47,500	e	Vornado Realty Trust		5,217,400
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		90,766,536
HOTELS AND OTHER LODGING PLACES - 3.38%
90,500		Accor S.A.		8,000,270
195,000		Hilton Hotels Corp		6,526,650
41,000	e*	MGM Mirage		3,381,680
115,000	e	Orient-Express Hotels Ltd (Class A)		6,141,000
77,000		Starwood Hotels & Resorts Worldwide, Inc		5,164,390
		TOTAL HOTELS AND OTHER LODGING PLACES		29,213,990
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.99%
52,000	e	Curtiss-Wright Corp		2,423,720
33,000		Deere & Co		3,984,420
39,000		Watsco, Inc		2,121,600
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		8,529,740
INSTRUMENTS AND RELATED PRODUCTS - 3.52%
61,000	e*	Agilent Technologies, Inc		2,344,840
83,000	e	Cooper Cos, Inc		4,425,560
30,500	*	Mettler-Toledo International, Inc		2,913,055
240,000	*	Thermo Electron Corp		12,412,800
25,000	e*	Waters Corp		1,484,000
369,000	e*	Xerox Corp		6,819,120
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		30,399,375
INSURANCE AGENTS, BROKERS AND SERVICE - 0.92%
112,000		AON Corp		4,772,320
32,500		Hartford Financial Services Group, Inc		3,201,575
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		7,973,895
INSURANCE CARRIERS - 5.54%
99,300		ACE Ltd		6,208,236
68,000		Aetna, Inc		3,359,200
80,000	e	Axis Capital Holdings Ltd		3,252,000
46,000	e	CNA Financial Corp		2,193,740
263,000	e*	Conseco, Inc		5,494,070

34

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
48,000		Everest Re Group Ltd	$	5,214,720
127,000		Genworth Financial, Inc (Class A)		4,368,800
76,000	e	Max Re Capital Ltd		2,150,800
48,000	e	OneBeacon Insurance Group Ltd		1,215,840
36,000	e	PartnerRe Ltd		2,790,000
127,000	e	Radian Group, Inc		6,858,000
18,000		Safeco Corp		1,120,680
43,000		XL Capital Ltd (Class A)		3,624,470
		TOTAL INSURANCE CARRIERS		47,850,556
METAL MINING - 0.92%
57,000	e	Compania de Minas Buenaventura S.A. (ADR)		2,135,220
178,000	*	LionOre Mining International Ltd		4,670,359
100,000	e*	Stillwater Mining Co		1,101,000
		TOTAL METAL MINING		7,906,579
MISCELLANEOUS RETAIL - 1.42%
80,000	e	Barnes & Noble, Inc		3,077,600
67,000		Compagnie Financiere Richemont AG.		4,004,675
391,000	e*	Rite Aid Corp		2,494,580
15,700	*	Sears Holdings Corp		2,661,150
		TOTAL MISCELLANEOUS RETAIL		12,238,005
MOTION PICTURES - 0.65%
50,000	e	CBS Corp (Class B)		1,666,000
112,000	*	Discovery Holding Co (Class A)		2,574,880
64,000	e	Regal Entertainment Group (Class A)		1,403,520
		TOTAL MOTION PICTURES		5,644,400
NONDEPOSITORY INSTITUTIONS - 0.53%
84,000		CIT Group, Inc		4,605,720
		TOTAL NONDEPOSITORY INSTITUTIONS		4,605,720
OIL AND GAS EXTRACTION - 1.85%
23,000	*	Cameron International Corp		1,643,810
34,000		ENSCO International, Inc		2,074,340
89,000	e*	Forest Oil Corp		3,761,140
49,000	e*	Helix Energy Solutions Group, Inc		1,955,590
92,000	e*	Pride International, Inc		3,446,320
44,000	e	Tidewater, Inc		3,118,720
		TOTAL OIL AND GAS EXTRACTION		15,999,920
PAPER AND ALLIED PRODUCTS - 3.17%
195,000		Anglo American plc		11,448,800
132,000	e	Bowater, Inc		3,293,400
147,000		Greif, Inc (Class A)		8,762,670
64,000	e	Temple-Inland, Inc		3,937,920
		TOTAL PAPER AND ALLIED PRODUCTS		27,442,790
PETROLEUM AND COAL PRODUCTS - 2.39%
132,000		Cabot Oil & Gas Corp		4,868,160
67,000		Hess Corp		3,950,320
52,000	*	Newfield Exploration Co		2,368,600
121,000		Noble Energy, Inc		7,549,190
24,000		Sunoco, Inc		1,912,320
		TOTAL PETROLEUM AND COAL PRODUCTS		20,648,590

35

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
PRIMARY METAL INDUSTRIES - 1.35%
12,000	e	Carpenter Technology Corp	$	1,563,720
39,500		Precision Castparts Corp		4,793,720
22,000	*	RTI International Metals, Inc		1,658,140
11,500	e	Vallourec		3,676,848
		TOTAL PRIMARY METAL INDUSTRIES		11,692,428
PRINTING AND PUBLISHING - 1.64%
71,500		Gannett Co, Inc		3,928,925
65,000		Meredith Corp		4,004,000
83,000	e*	R.H. Donnelley Corp		6,289,740
		TOTAL PRINTING AND PUBLISHING		14,222,665
RAILROAD TRANSPORTATION - 0.64%
80,000		CSX Corp		3,606,400
36,000		Norfolk Southern Corp		1,892,520
		TOTAL RAILROAD TRANSPORTATION		5,498,920
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.76%
222,000		Newell Rubbermaid, Inc		6,533,460
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		6,533,460
SECURITY AND COMMODITY BROKERS - 1.11%
23,500	e	Bear Stearns Cos, Inc		3,290,000
71,000		Charles Schwab Corp		1,456,920
40,000	*	E*Trade Financial Corp		883,600
93,000		Jefferies Group, Inc		2,509,140
57,000		Waddell & Reed Financial, Inc (Class A)		1,482,570
		TOTAL SECURITY AND COMMODITY BROKERS		9,622,230
STONE, CLAY, AND GLASS PRODUCTS - 0.14%
34,576	e*	Owens Corning, Inc		1,162,791
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		1,162,791
TOBACCO PRODUCTS - 1.64%
102,000		Loews Corp (Carolina Group)		7,881,540
71,000	e	Reynolds American, Inc		4,629,200
75,000	e	Vector Group Ltd		1,689,750
		TOTAL TOBACCO PRODUCTS		14,200,490
TRANSPORTATION BY AIR - 1.49%
107,000	e*	AMR Corp		2,819,450
30,000	e*	Continental Airlines, Inc (Class B)		1,016,100
235,000	*	easyJet plc		2,461,192
162,000	e*	UAL Corp		6,575,580
		TOTAL TRANSPORTATION BY AIR		12,872,322
TRANSPORTATION EQUIPMENT - 3.77%
112,000		Autoliv, Inc		6,369,440
17,000		Empresa Brasileira de Aeronautica S.A. (ADR)		819,570
415,000	e*	Ford Motor Co		3,909,300
20,500		General Dynamics Corp		1,603,510
97,000	e	Group 1 Automotive, Inc		3,912,980
39,000	e	Harsco Corp		2,028,000
82,800		ITT Industries, Inc		5,653,584
138,139	*	Spirit Aerosystems Holdings, Inc (Class A)		4,979,911

36

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
89,000	e*	TRW Automotive Holdings Corp	$	3,277,870
		TOTAL TRANSPORTATION EQUIPMENT		32,554,165
WATER TRANSPORTATION - 0.63%
127,000		Danaos Corp		3,994,150
68,000	e	Omega Navigation Enterprises, Inc (Class A)		1,479,000
		TOTAL WATER TRANSPORTATION		5,473,150
WHOLESALE TRADE-NONDURABLE GOODS - 1.33%
59,000		Akzo Nobel NV (ADR)		5,063,970
76,000	e	Dean Foods Co		2,422,120
97,000	e	Macquarie Infrastructure Co LLC		4,023,562
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		11,509,652
		TOTAL COMMON STOCKS
		(Cost $752,091,237)		860,958,969
SHORT-TERM INVESTMENTS - 20.45%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 20.45%
176,775,323		State Street Navigator Securities Lending Prime Portfolio		176,775,323
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $176,775,323)		176,775,323
		TOTAL PORTFOLIO - 120.06%
		(Cost $928,866,560)		1,037,734,292
		OTHER ASSETS & LIABILITIES, NET - (20.06)%		(173,356,051	)
		NET ASSETS - 100.00%	$	864,378,241
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
	g	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, 2007, the value of these securities amounted to $507,191 or 0.06% of net assets.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.

37

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 97.62%
AMUSEMENT AND RECREATION SERVICES - 0.62%
357		Dover Downs Gaming & Entertainment, Inc	$	5,359
129,000	e*	Leapfrog Enterprises, Inc		1,322,250
34,988	*	Live Nation, Inc		783,031
67,609	*	Magna Entertainment Corp		197,418
13,821	e	Speedway Motorsports, Inc		552,564
58,749	e*	Westwood One, Inc		422,405
		TOTAL AMUSEMENT AND RECREATION SERVICES		3,283,027
APPAREL AND ACCESSORY STORES - 1.92%
98,200		Brown Shoe Co, Inc		2,388,224
44,828		Cato Corp (Class A)		983,526
88,141	e*	Charlotte Russe Holding, Inc		2,368,349
89,919	e*	Dress Barn, Inc		1,845,138
79,897	d*	Payless Shoesource, Inc		2,520,750
		TOTAL APPAREL AND ACCESSORY STORES		10,105,987
APPAREL AND OTHER TEXTILE PRODUCTS - 0.87%
64,463	*	Gymboree Corp		2,540,487
89,300	*	Maidenform Brands, Inc		1,773,498
4,391		Phillips-Van Heusen Corp		265,963
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		4,579,948
AUTO REPAIR, SERVICES AND PARKING - 0.00%**
664	*	Wright Express Corp		22,755
		TOTAL AUTO REPAIR, SERVICES AND PARKING		22,755
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.37%
77,200		Asbury Automotive Group, Inc		1,926,140
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,926,140
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.00%**
265	e*	Central Garden & Pet Co		3,249
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		3,249
BUSINESS SERVICES - 11.66%
593,869	*	3Com Corp		2,452,679
89,732		ABM Industries, Inc		2,315,983
133,911	e*	Actuate Corp		909,256
64,065		Administaff, Inc		2,145,537
103,200	*	AMN Healthcare Services, Inc		2,270,400
1	*	Art Technology Group, Inc		3
20,578	e	Asset Acceptance Capital Corp		364,231
20,804	*	BISYS Group, Inc		246,111
24,100	*	CACI International, Inc (Class A)		1,177,285
13,458		Catalina Marketing Corp		423,927

38

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
79,015	e*	CBIZ, Inc	$	580,760
1,035,249	*	CMGI, Inc		2,018,736
11,314	e*	Commvault Systems, Inc		195,393
96,746	*	COMSYS IT Partners, Inc		2,206,776
49,273	e*	Covansys Corp		1,671,833
91,307	e*	CSG Systems International, Inc		2,420,549
30,683		Deluxe Corp		1,246,037
7,543	*	Digital River, Inc		341,321
144,577	*	Earthlink, Inc		1,079,990
102,238	e*	eSpeed, Inc (Class A)		883,336
39,845	*	Gerber Scientific, Inc		462,999
21,169	*	Heidrick & Struggles International, Inc		1,084,700
14,313	e*	ICT Group, Inc		267,796
60,656	*	Informatica Corp		895,889
876		Infospace, Inc		20,332
300	e	Integral Systems, Inc		7,293
23,923	e*	Interactive Intelligence, Inc		492,814
12,473	e*	Internap Network Services Corp		179,861
11,075		Kelly Services, Inc (Class A)		304,120
33,875	*	Kforce, Inc		541,323
7,252	*	Korn/Ferry International		190,438
94,557	*	Labor Ready, Inc		2,185,212
14,544	*	Manhattan Associates, Inc		405,923
47,838	*	Mantech International Corp (Class A)		1,474,846
18,481	e*	Mentor Graphics Corp		243,395
14,266	*	MicroStrategy, Inc (Class A)		1,347,994
122,613	*	MPS Group, Inc		1,639,336
20,600	*	Ness Technologies, Inc		268,006
16,400	e*	NetFlix, Inc		317,996
36		NIC, Inc		246
24,280	*	Parametric Technology Corp		524,691
60,692	e*	PRA International		1,535,508
11,160	*	Progress Software Corp		354,776
26,541	*	RealNetworks, Inc		216,840
113,275	*	S1 Corp		905,067
12,712		Sotheby's		585,006
103,114	*	Spherion Corp		968,240
24,284	e*	SPSS, Inc		1,071,896
10,500	*	SRA International, Inc (Class A)		265,230
117,068	*	Sybase, Inc		2,796,755
84,290	*	SYKES Enterprises, Inc		1,600,667
64,500	e*	SYNNEX Corp		1,329,345
14,300	e*	Take-Two Interactive Software, Inc		285,571
15,320	*	TeleTech Holdings, Inc		497,594
19,858	e	TheStreet.com, Inc		216,055
79,760	*	THQ, Inc		2,434,275
157,887	*	TIBCO Software, Inc		1,428,877
1,938	*	Transaction Systems Architects, Inc		65,233
55,047	e*	Travelzoo, Inc		1,463,700
70,300	*	Valueclick, Inc		2,071,038
59,849		Viad Corp		2,523,832
19,050	*	Vignette Corp		364,998
21,400	*	Volt Information Sciences, Inc		394,616

39

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
28,622	*	Wind River Systems, Inc	$	314,842
		TOTAL BUSINESS SERVICES		61,495,314
CHEMICALS AND ALLIED PRODUCTS - 6.27%
12,000	e*	Acorda Therapeutics, Inc		204,720
7,363	e*	Adams Respiratory Therapeutics, Inc		290,029
80,107	e*	Alkermes, Inc		1,169,562
7,800	e*	American Oriental Bioengineering, Inc		69,420
12,890		Arch Chemicals, Inc		452,955
28,010	e*	Aventine Renewable Energy Holdings, Inc		475,330
200	*	Bentley Pharmaceuticals, Inc		2,428
107,400		Cambrex Corp		1,425,198
1,600	e*	Cell Genesys, Inc		5,360
59,295		CF Industries Holdings, Inc		3,551,178
291	e*	Chattem, Inc		18,444
28,300	e*	Dendreon Corp		200,364
13,217	*	Digene Corp		793,681
15,444	e*	Elizabeth Arden, Inc		374,671
19,050	e*	Enzon Pharmaceuticals, Inc		149,543
34,498		H.B. Fuller Co		1,031,145
524	*	Hercules, Inc		10,297
21,798	*	Immucor, Inc		609,690
42,743	e*	Indevus Pharmaceuticals, Inc		287,660
87,495	e*	InterMune, Inc		2,269,620
18,321		Koppers Holdings, Inc		617,051
28,739	e*	KV Pharmaceutical Co (Class A)		782,850
2,138	*	Martek Biosciences Corp		55,524
48,671	e*	Medicines Co		857,583
27,452	*	MGI Pharma, Inc		614,101
42,253	e*	Nabi Biopharmaceuticals		194,364
42,592	*	NBTY, Inc		1,839,974
11,279	e	NewMarket Corp		545,565
28,899	*	OM Group, Inc		1,529,335
15,695	e*	OraSure Technologies, Inc		128,385
75,586	e*	OSI Pharmaceuticals, Inc		2,736,969
2,327	e*	Pain Therapeutics, Inc		20,268
1,607	*	Par Pharmaceutical Cos, Inc		45,366
1,003	e*	Parexel International Corp		42,186
54,865	e	Perrigo Co		1,074,257
30,402	e*	Pharmion Corp		880,138
27,519	e*	Pioneer Cos, Inc		945,828
193,435	*	PolyOne Corp		1,390,798
34,809	e*	Sciele Pharma, Inc		820,100
9,113		Stepan Co		275,942
320,555	e*	SuperGen, Inc		1,782,286
15,400	e*	USANA Health Sciences, Inc		688,996
69,565	e*	USEC, Inc		1,529,039
14,311		Valeant Pharmaceuticals International		238,851
2,043	e*	WR Grace & Co		50,033
		TOTAL CHEMICALS AND ALLIED PRODUCTS		33,077,084
COAL MINING - 0.29%
74,617	e*	Alpha Natural Resources, Inc		1,551,287
		TOTAL COAL MINING		1,551,287

40

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
COMMUNICATIONS - 3.82%
41,800	e*	Anixter International, Inc	$	3,143,778
56,785	e	Atlantic Tele-Network, Inc		1,626,322
41,379	*	Authorize.Net Holdings, Inc		740,270
176,534	e*	Brightpoint, Inc		2,434,404
269	e*	Centennial Communications Corp		2,553
460,005	*	Cincinnati Bell, Inc		2,658,829
853	e	Citadel Broadcasting Corp		5,502
8,250	e	CT Communications, Inc		251,708
26,609	e	Entercom Communications Corp (Class A)		662,298
6,094	*	Eschelon Telecom, Inc		180,382
58,294	*	Foundry Networks, Inc		971,178
95,360	*	General Communication, Inc (Class A)		1,221,562
18,008	e*	j2 Global Communications, Inc		628,479
83,710	e*	Mastec, Inc		1,324,292
21,700	*	Nexstar Broadcasting Group, Inc (Class A)		285,138
110,877		RCN Corp		2,083,379
1,600	*	Rural Cellular Corp (Class A)		70,096
6,500	e*	TiVo, Inc		37,635
67,480		USA Mobility, Inc		1,805,765
		TOTAL COMMUNICATIONS		20,133,570
DEPOSITORY INSTITUTIONS - 6.82%
4,600		1st Source Corp		114,632
18,274	e	Ameris Bancorp		410,617
14,435	e	Anchor Bancorp Wisconsin, Inc		378,053
22,602		Bancfirst Corp		967,818
24,920	*	Bancorp, Inc		557,211
900		Bank Mutual Corp		10,377
16,800	e	BankAtlantic Bancorp, Inc (Class A)		144,648
178	e	BankUnited Financial Corp (Class A)		3,572
26,285		Banner Corp		895,267
5,874	e	Capitol Bancorp Ltd		160,536
61,518	e*	Centennial Bank Holdings, Inc		521,057
35,400	e	Center Financial Corp		598,968
13,075	e	Central Pacific Financial Corp		431,606
14,241	e	Chemical Financial Corp		368,415
19,738		Chittenden Corp		689,843
23,486		City Holding Co		900,218
12,862	e*	Community Bancorp		359,879
31,956	e	Community Trust Bancorp, Inc		1,032,179
27,083	e	Corus Bankshares, Inc		467,453
20,100	e*	Dollar Financial Corp		572,850
36,938	e	Downey Financial Corp		2,437,169
26,977		First Bancorp		296,477
17,970		First Charter Corp		349,876
565	e	First Financial Holdings, Inc		18,481
157,177	e	First Niagara Financial Group, Inc		2,059,019
9,937		First Place Financial Corp		209,869
12,064	e*	First Regional Bancorp		306,908
25,568	e*	FirstFed Financial Corp		1,450,473
23,700	e	Fremont General Corp		255,012
2	e	Fulton Financial Corp		29
54,424		Greater Bay Bancorp		1,515,164

41

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
1,421	e	Greene County Bancshares, Inc	$	44,420
24,781	e	Hancock Holding Co		930,527
53,425	e	Hanmi Financial Corp		911,431
1,102	e	IBERIABANK Corp		54,494
23,217	e	Independent Bank Corp		399,565
586		Integra Bank Corp		12,581
30,872	e	Macatawa Bank Corp		491,174
34,688	e	Old National Bancorp		576,168
57,686	e	Oriental Financial Group, Inc		629,354
69,900		PFF Bancorp, Inc		1,952,307
1,050		Preferred Bank		42,000
31,509	e	Provident Bankshares Corp		1,032,865
41,227	e	Provident Financial Services, Inc		649,738
9,826	e	Renasant Corp		223,443
9,719	e	Sierra Bancorp		274,076
10,103	e	Simmons First National Corp (Class A)		278,742
56,389		Southwest Bancorp, Inc		1,355,592
3,450	e	Sterling Bancorp		55,304
78,938		Sterling Bancshares, Inc		892,789
24,939	e*	Sterling Financial Corp		262,358
600	e	Suffolk Bancorp		19,152
955	*	Sun Bancorp, Inc		16,111
68,228	e	Susquehanna Bancshares, Inc		1,526,260
40,124		Taylor Capital Group, Inc		1,104,614
13,188		TierOne Corp		396,959
2,200	e	Tompkins Trustco, Inc		82,280
1,700	e	Trico Bancshares		38,012
94,896	e	Trustmark Corp		2,454,011
7,508	e	Umpqua Holdings Corp		176,513
400	e	United Community Financial Corp		3,992
3,300	e	WesBanco, Inc		97,350
24,140	e	Wilshire Bancorp, Inc		294,025
3,895	e	Wintrust Financial Corp		170,796
		TOTAL DEPOSITORY INSTITUTIONS		35,932,679
EATING AND DRINKING PLACES - 2.02%
11,184		Bob Evans Farms, Inc		412,130
52,122		CBRL Group, Inc		2,214,143
11,089	*	CEC Entertainment, Inc		390,333
30,777		CKE Restaurants, Inc		617,694
13,163	e	Domino's Pizza, Inc		240,488
39,000	*	Jack in the Box, Inc		2,766,660
18,697	*	McCormick & Schmick's Seafood Restaurants, Inc		485,000
53,850		O'Charleys, Inc		1,085,616
77,468	e*	Papa John's International, Inc		2,227,980
137	e*	PF Chang's China Bistro, Inc		4,822
7,203	e	Ruby Tuesday, Inc		189,655
634	*	Ruth's Chris Steak House, Inc		10,772
		TOTAL EATING AND DRINKING PLACES		10,645,293
EDUCATIONAL SERVICES - 0.20%
30,385	e	DeVry, Inc		1,033,698
5	*	Lincoln Educational Services Corp		74
		TOTAL EDUCATIONAL SERVICES		1,033,772

42

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 4.65%
94,769		Avista Corp	$	2,042,272
48,100	e	Black Hills Corp		1,911,975
49,724	e*	Clean Harbors, Inc		2,457,360
43,700	e	Idacorp, Inc		1,400,148
71,995	e	Laclede Group, Inc		2,295,201
10,600		Markwest Hydrocarbon, Inc		608,758
49,417		Metal Management, Inc		2,177,807
48,730	e	New Jersey Resources Corp		2,486,205
47,371	e	Nicor, Inc		2,033,163
13,936	e	NorthWestern Corp		443,304
85,162	e	Portland General Electric Co		2,336,845
20,633		Southwest Gas Corp		697,602
67,514		UIL Holdings Corp		2,234,713
42,008	e	WGL Holdings, Inc		1,371,141
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		24,496,494
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.08%
50,771	*	Adaptec, Inc		193,438
84,796	*	Advanced Energy Industries, Inc		1,921,477
25,173	*	Aeroflex, Inc		356,701
185,356	e*	Amkor Technology, Inc		2,919,357
62,847	*	Andrew Corp		907,511
156,219	*	Arris Group, Inc		2,747,892
39,724	*	Benchmark Electronics, Inc		898,557
12,666	e*	Ceradyne, Inc		936,777
6,381	*	Checkpoint Systems, Inc		161,120
53,310	e*	Comtech Telecommunications Corp		2,474,650
16,391	*	EMS Technologies, Inc		361,585
3,300	e*	First Solar, Inc		294,657
43,420	*	Gemstar-TV Guide International, Inc		213,626
7,650	*	Genlyte Group, Inc		600,831
10,100	*	GrafTech International Ltd		170,084
29,969	e*	Greatbatch, Inc		970,996
31,900		Imation Corp		1,175,834
7,329	e*	Interdigital Communications Corp		235,774
67,200	e*	Kemet Corp		473,760
4,265	e*	Lamson & Sessions Co		113,321
51,562	*	Mattson Technology, Inc		500,151
198	e*	Monolithic Power Systems, Inc		3,455
78,326	e*	MRV Communications, Inc		254,560
900	e*	Multi-Fineline Electronix, Inc		15,444
209,709	e*	ON Semiconductor Corp		2,248,080
74,248	*	Oplink Communications, Inc		1,113,720
71,428	e*	Plexus Corp		1,642,130
21,333	e	Regal-Beloit Corp		992,838
387,948	e*	RF Micro Devices, Inc		2,420,796
66,814	*	Silicon Image, Inc		573,264
124,200	*	Silicon Storage Technology, Inc		463,266
3,667	*	Stoneridge, Inc		45,251
21,500	e*	Supertex, Inc		673,810
56,473		Technitrol, Inc		1,619,081
27,289	e*	Trident Microsystems, Inc		500,753

43

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
4,273	*	Triquint Semiconductor, Inc	$	21,621
40,289	e*	Utstarcom, Inc		226,021
14,500	*	Varian Semiconductor Equipment Associates, Inc		580,870
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		32,023,059
ENGINEERING AND MANAGEMENT SERVICES - 2.30%
10,899	e	CDI Corp		350,948
43,774		Diamond Management & Technology Consultants, Inc		577,817
23,147	*	Exelixis, Inc		280,079
89,434	*	Harris Interactive, Inc		478,472
85,891	e*	Incyte Corp		515,346
1,334	*	LECG Corp		20,157
55,718	e*	Lifecell Corp		1,701,628
51,481	e*	Luminex Corp		633,731
19,057	e*	MTC Technologies, Inc		468,040
2,671	e*	Myriad Genetics, Inc		99,334
8,246	e*	Omnicell, Inc		171,352
30,342	*	PharmaNet Development Group, Inc		967,303
26,032	e*	Regeneron Pharmaceuticals, Inc		466,493
2,610	*	Resources Connection, Inc		86,600
16,870	e*	Rigel Pharmaceuticals, Inc		150,312
39,400	e*	SAIC, Inc		711,958
117,615	e*	Savient Pharmaceuticals, Inc		1,460,778
66,099	*	Seattle Genetics, Inc		648,431
11,184	e*	Washington Group International, Inc		894,832
28,731		Watson Wyatt & Co Holdings (Class A)		1,450,341
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		12,133,952
FABRICATED METAL PRODUCTS - 0.85%
16,219		Compx International, Inc		300,052
62,892	e	Gulf Island Fabrication, Inc		2,182,352
32,132	e*	NCI Building Systems, Inc		1,585,072
10,400	e	Watts Water Technologies, Inc (Class A)		389,688
		TOTAL FABRICATED METAL PRODUCTS		4,457,164
FOOD AND KINDRED PRODUCTS - 0.87%
40,045		Flowers Foods, Inc		1,335,901
68,042	e	Imperial Sugar Co		2,095,013
35,731	e*	Performance Food Group Co		1,160,900
		TOTAL FOOD AND KINDRED PRODUCTS		4,591,814
FOOD STORES - 0.82%
49,242	e*	Pantry, Inc		2,270,056
4,318		Ruddick Corp		130,058
21,419	*	Wild Oats Markets, Inc		358,982
54,139	*	Winn-Dixie Stores, Inc		1,586,273
		TOTAL FOOD STORES		4,345,369
FURNITURE AND FIXTURES - 0.77%
48,219	e	Cal-Maine Foods, Inc		789,827
70,040		Herman Miller, Inc		2,213,264
15,638	e	Hooker Furniture Corp		350,917
4,000		Kimball International, Inc (Class B)		56,040

44

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
40,937	e*	Select Comfort Corp	$	663,998
		TOTAL FURNITURE AND FIXTURES		4,074,046
FURNITURE AND HOME FURNISHINGS STORES - 0.41%
95,347		Knoll, Inc		2,135,773
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		2,135,773
GENERAL BUILDING CONTRACTORS - 0.55%
47,113	*	Perini Corp		2,898,863
		TOTAL GENERAL BUILDING CONTRACTORS		2,898,863
GENERAL MERCHANDISE STORES - 0.30%
40,568	*	Big Lots, Inc		1,193,511
14,300		Casey's General Stores, Inc		389,818
		TOTAL GENERAL MERCHANDISE STORES		1,583,329
HEALTH SERVICES - 0.49%
1,147	*	Amsurg Corp		27,689
17,316	*	Apria Healthcare Group, Inc		498,181
10,735	*	Corvel Corp		280,613
14,300	*	Healthsouth Corp		258,973
160,100	*	Immunomedics, Inc		664,415
190	e*	Kindred Healthcare, Inc		5,837
5,734	*	Magellan Health Services, Inc		266,459
3,283	*	Odyssey HealthCare, Inc		38,936
702	*	RehabCare Group, Inc		9,996
38,073	*	Sun Healthcare Group, Inc		551,678
		TOTAL HEALTH SERVICES		2,602,777
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.93%
42,078		Granite Construction, Inc		2,700,566
88,409	*	Matrix Service Co		2,196,964
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		4,897,530
HOLDING AND OTHER INVESTMENT OFFICES - 7.40%
77,652	e*	Affordable Residential Communities LP		917,847
8,600	e	Agree Realty Corp		268,750
204,190	e	Ashford Hospitality Trust, Inc		2,401,274
5,000		Associated Estates Realty Corp		77,950
25,716	e	Compass Diversified Trust		458,516
79,469		Cousins Properties, Inc		2,305,396
135,191		DiamondRock Hospitality Co		2,579,444
8,683	e	Equity Inns, Inc		194,499
41,700	e	Equity Lifestyle Properties, Inc		2,176,323
49,400		Extra Space Storage, Inc		815,100
108,432		FelCor Lodging Trust, Inc		2,822,485
4,729	e	Gladstone Capital Corp		101,484
47,956		Highland Hospitality Corp		920,755
3,682	e	Highwoods Properties, Inc		138,075
50,631		Home Properties, Inc		2,629,268
108,798		Innkeepers U.S.A. Trust		1,928,989
75,500		iShares Russell 2000 Index Fund		6,263,480
57,574		LaSalle Hotel Properties		2,499,863
1,731		Mid-America Apartment Communities, Inc		90,843
13,553	e	National Health Investors, Inc		429,901

45

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
26,047		Pennsylvania Real Estate Investment Trust	$	1,154,664
60,639	e	Potlatch Corp		2,610,509
8,151		PS Business Parks, Inc		516,529
11,800		Saul Centers, Inc		535,130
300	e*	Star Maritime Acquisition Corp		3,678
11,300		Sun Communities, Inc		336,401
34,782		Sunstone Hotel Investors, Inc		987,461
65,522	e	Tanger Factory Outlet Centers, Inc		2,453,799
26,821	*	Winston Hotels, Inc		402,315
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		39,020,728
HOTELS AND OTHER LODGING PLACES - 0.12%
23,705	*	Monarch Casino & Resort, Inc		636,479
		TOTAL HOTELS AND OTHER LODGING PLACES		636,479
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.51%
57,924	e	Ampco-Pittsburgh Corp		2,322,173
61,075	*	Asyst Technologies, Inc		441,572
14,785		Black Box Corp		611,803
246,182	e*	Brocade Communications Systems, Inc		1,925,143
137,842	*	Brooks Automation, Inc		2,501,832
12,000	*	Dril-Quip, Inc		539,400
111,511	*	Extreme Networks, Inc		451,620
139,300	e*	Gateway, Inc		221,487
6,043	*	Hurco Cos, Inc		302,029
34,080	e*	Intevac, Inc		724,541
2,311	e	Kaydon Corp		120,449
24,863	*	Kulicke & Soffa Industries, Inc		260,316
32,134		Lufkin Industries, Inc		2,074,250
25,228	*	Micros Systems, Inc		1,372,403
8,400		Nacco Industries, Inc (Class A)		1,306,116
54,600	*	NATCO Group, Inc (Class A)		2,513,784
11,100	e*	Netgear, Inc		402,375
49,446		Nordson Corp		2,480,211
32,524	e*	Oil States International, Inc		1,344,542
65,479		Palm, Inc		1,048,319
5,800	*	Rimage Corp		183,222
3,200		Robbins & Myers, Inc		170,016
56,100	e*	Safeguard Scientifics, Inc		157,641
18,460	e*	Tecumseh Products Co (Class A)		290,007
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		23,765,251
INSTRUMENTS AND RELATED PRODUCTS - 4.93%
5,753	e*	Affymetrix, Inc		143,192
7,792	*	Bio-Rad Laboratories, Inc (Class A)		588,841
246,439	*	Bruker BioSciences Corp		2,220,415
8,435	*	Coherent, Inc		257,352
4,870	*	Conmed Corp		142,594
17,700	e*	Credence Systems Corp		63,720
1,327		Datascope Corp		50,798
13,788	*	Eagle Test Systems, Inc		221,435
4,975	*	Esterline Technologies Corp		240,342
9,086	*	Excel Technology, Inc		253,863
13,932	*	Haemonetics Corp		732,963

46

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
15,969	*	Hologic, Inc	$	883,245
38,337	e*	ICU Medical, Inc		1,646,191
7,950	e*	II-VI, Inc		216,002
308,132	e*	LTX Corp		1,713,214
60,417	*	Medical Action Industries, Inc		1,091,131
6,729	e	Mentor Corp		273,736
1	*	Merit Medical Systems, Inc		12
23,437	*	MKS Instruments, Inc		649,205
67,032	e	Movado Group, Inc		2,261,660
29,666		MTS Systems Corp		1,325,180
40,634	e*	Palomar Medical Technologies, Inc		1,410,406
83,744		STERIS Corp		2,562,566
17,841	*	Teledyne Technologies, Inc		819,794
14,975	e	United Industrial Corp		898,201
42,419	*	Varian, Inc		2,325,834
5,633		Vital Signs, Inc		312,913
10,578	*	Wright Medical Group, Inc		255,141
107,215	*	Zoll Medical Corp		2,391,967
3,352	*	Zygo Corp		47,900
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		25,999,813
INSURANCE AGENTS, BROKERS AND SERVICE - 0.19%
474		Hilb Rogal & Hobbs Co		20,316
39,745	*	United America Indemnity Ltd (Class A)		988,458
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		1,008,774
INSURANCE CARRIERS - 3.69%
1,000	e*	ACA Capital Holdings, Inc		11,900
101,740	*	AMERIGROUP Corp		2,421,412
20,500	*	Amerisafe, Inc		402,415
40,942	e	Argonaut Group, Inc		1,277,800
39,900		Aspen Insurance Holdings Ltd		1,119,993
5,318		Bristol West Holdings, Inc		118,964
6,113		EMC Insurance Group, Inc		151,725
316	*	First Mercury Financial Corp		6,627
22,500	*	Hallmark Financial Services		272,700
700		Harleysville Group, Inc		23,352
9,336	*	HealthExtras, Inc		276,159
96,728	*	Healthspring, Inc		1,843,636
89,600	*	Meadowbrook Insurance Group, Inc		982,016
71,203	e*	Molina Healthcare, Inc		2,173,116
900		National Interstate Corp		23,472
75		National Western Life Insurance Co (Class A)		18,969
1,050	*	Navigators Group, Inc		56,595
56,109	e	Odyssey Re Holdings Corp		2,406,515
300		Ohio Casualty Corp		12,993
25,300		Phoenix Cos, Inc		379,753
79,400		Platinum Underwriters Holdings Ltd		2,759,150
41,883	*	PMA Capital Corp (Class A)		447,729
1,700		Presidential Life Corp		33,422
40,510		Safety Insurance Group, Inc		1,677,114
2,538		Selective Insurance Group, Inc		68,221
288	e	State Auto Financial Corp		8,827

47

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
22,382	*	Universal American Financial Corp	$	476,289
		TOTAL INSURANCE CARRIERS		19,450,864
LEATHER AND LEATHER PRODUCTS - 0.51%
71,056		Steven Madden Ltd		2,327,795
14,785	*	Timberland Co (Class A)		372,434
		TOTAL LEATHER AND LEATHER PRODUCTS		2,700,229
LEGAL SERVICES - 0.27%
22,106	*	Pre-Paid Legal Services, Inc		1,421,637
		TOTAL LEGAL SERVICES		1,421,637
LUMBER AND WOOD PRODUCTS - 0.06%
9,864	e	American Woodmark Corp		341,294
		TOTAL LUMBER AND WOOD PRODUCTS		341,294
METAL MINING - 0.18%
9,200	e	Cleveland-Cliffs, Inc		714,564
10,500	e*	Rosetta Resources, Inc		226,170
		TOTAL METAL MINING		940,734
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.75%
5,117		Blyth, Inc		136,010
16,573	e	Callaway Golf Co		295,165
76,201	e*	Jakks Pacific, Inc		2,144,296
51,600	e*	K2, Inc		783,804
24,500	e	Nautilus, Inc		294,980
7,288	*	RC2 Corp		291,593
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		3,945,848
MISCELLANEOUS RETAIL - 1.78%
164,404	*	Ezcorp, Inc (Class A)		2,176,709
7,507		Longs Drug Stores Corp		394,268
24,255	*	Priceline.com, Inc		1,667,289
153,699	e*	Stamps.com, Inc		2,117,972
39,261	e	Systemax, Inc		817,021
52,800	e	World Fuel Services Corp		2,220,768
		TOTAL MISCELLANEOUS RETAIL		9,394,027
MOTION PICTURES - 0.01%
1,694	*	Macrovision Corp		50,922
		TOTAL MOTION PICTURES		50,922
NONDEPOSITORY INSTITUTIONS - 0.63%
35,392	e	Advance America Cash Advance Centers, Inc		627,854
27,200	e*	Encore Capital Group, Inc		339,456
14,215	e	MCG Capital Corp		227,724
132,614	e*	Ocwen Financial Corp		1,767,745
23,500	e	Patriot Capital Funding, Inc		348,975
		TOTAL NONDEPOSITORY INSTITUTIONS		3,311,754
OIL AND GAS EXTRACTION - 2.53%
1,400	e	APCO Argentina, Inc		118,874
32,910		Atlas America, Inc		1,768,254
55,229	e*	Basic Energy Services, Inc		1,412,206

48

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
540	e*	Bill Barrett Corp	$	19,888
56,900	e*	Callon Petroleum Co		806,273
300	*	Clayton Williams Energy, Inc		7,941
13,865	*	Dawson Geophysical Co		852,143
54,477	*	Energy Partners Ltd		909,221
190	e*	Harvest Natural Resources, Inc		2,263
47,838	e*	Horizon Offshore, Inc		918,490
46,300	*	Mariner Energy, Inc		1,122,775
58,700	*	Meridian Resource Corp		177,274
39,312		Penn Virginia Corp		1,580,342
500	m,v*	PetroCorp		0
16,991	e*	PetroHawk Energy Corp		269,477
75,800	e*	Petroquest Energy, Inc		1,102,132
7,400	*	Stone Energy Corp		253,524
6,445	*	Swift Energy Co		275,588
38,967	e*	Trico Marine Services, Inc		1,592,971
995	*	Union Drilling, Inc		16,338
23,400	e*	Vaalco Energy, Inc		113,022
		TOTAL OIL AND GAS EXTRACTION		13,318,996
PAPER AND ALLIED PRODUCTS - 0.45%
18,400	e	Bowater, Inc		459,080
60,473		Rock-Tenn Co (Class A)		1,918,204
		TOTAL PAPER AND ALLIED PRODUCTS		2,377,284
PERSONAL SERVICES - 0.28%
18,100		CPI Corp		1,257,950
4,600	*	Steiner Leisure Ltd		225,952
		TOTAL PERSONAL SERVICES		1,483,902
PETROLEUM AND COAL PRODUCTS - 0.29%
31,800	e	Alon USA Energy, Inc		1,399,518
2,109	e	Western Refining, Inc		121,900
		TOTAL PETROLEUM AND COAL PRODUCTS		1,521,418
PRIMARY METAL INDUSTRIES - 1.73%
53,985	e*	AK Steel Holding Corp		2,017,419
33,894	e	Belden CDT, Inc		1,876,033
8,200	e*	Brush Engineered Materials, Inc		344,318
3,628		Chaparral Steel Co		260,744
6,200	*	Coleman Cable, Inc		160,332
35,495	*	CommScope, Inc		2,071,133
18,442	e*	General Cable Corp		1,396,982
6,171		Matthews International Corp (Class A)		269,117
15,354		Mueller Industries, Inc		528,792
4,739	e*	Superior Essex, Inc		177,002
		TOTAL PRIMARY METAL INDUSTRIES		9,101,872
PRINTING AND PUBLISHING - 0.81%
25,495		Belo (A.H.) Corp (Class A)		524,942
33,459	*	Consolidated Graphics, Inc		2,318,040
6,700		CSS Industries, Inc		265,387
20,500		Ennis, Inc		482,160
16,500	*	Primedia, Inc		47,025

49

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
17,547	e*	Scholastic Corp	$	630,639
		TOTAL PRINTING AND PUBLISHING		4,268,193
REAL ESTATE - 0.00%**
1		Stewart Enterprises, Inc (Class A)		8
		TOTAL REAL ESTATE		8
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 1.67%
28,702	*	AEP Industries, Inc		1,291,877
42,154		Cooper Tire & Rubber Co		1,164,293
14,136		Schulman (A.), Inc		343,929
28,568		Spartech Corp		758,480
93,100		Tupperware Corp		2,675,694
54,129	e	West Pharmaceutical Services, Inc		2,552,182
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		8,786,455
SECURITY AND COMMODITY BROKERS - 1.02%
57,024		Calamos Asset Management, Inc (Class A)		1,456,963
19,900	*	Cowen Group, Inc		356,409
13,200	e*	Interactive Brokers Group, Inc (Class A)		358,116
7,700	e	International Securities Exchange, Inc		503,195
107,110	e*	Knight Capital Group, Inc (Class A)		1,778,026
11,900	*	Penson Worldwide, Inc		291,907
7,400	*	Piper Jaffray Cos		412,402
11,200		SWS Group, Inc		242,144
		TOTAL SECURITY AND COMMODITY BROKERS		5,399,162
SOCIAL SERVICES - 0.08%
1,330	*	Bright Horizons Family Solutions, Inc		51,750
18,713	*	Res-Care, Inc		395,593
		TOTAL SOCIAL SERVICES		447,343
SPECIAL TRADE CONTRACTORS - 0.59%
10,499		Comfort Systems USA, Inc		148,876
38,210	*	EMCOR Group, Inc		2,785,509
5,836	e*	Integrated Electrical Services, Inc		192,413
		TOTAL SPECIAL TRADE CONTRACTORS		3,126,798
TEXTILE MILL PRODUCTS - 0.07%
8,814		Oxford Industries, Inc		390,813
		TOTAL TEXTILE MILL PRODUCTS		390,813
TRANSPORTATION BY AIR - 0.70%
179,604	*	ABX Air, Inc		1,447,608
300	e*	Airtran Holdings, Inc		3,276
9,000	*	Alaska Air Group, Inc		250,740
8,044	e*	EGL, Inc		373,885
99,926	e*	ExpressJet Holdings, Inc		597,557
49,300	e*	Pinnacle Airlines Corp		924,375
3,477	e	Skywest, Inc		82,857
		TOTAL TRANSPORTATION BY AIR		3,680,298
TRANSPORTATION EQUIPMENT - 2.70%
58,714	e	A.O. Smith Corp		2,342,101

50

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
85,300	e	ArvinMeritor, Inc	$	1,893,660
8,235	e*	BE Aerospace, Inc		340,106
3,383	e	Clarcor, Inc		126,626
52,047	*	Comtech Group, Inc		859,296
43,672		Freightcar America, Inc		2,089,268
50,172	e	Group 1 Automotive, Inc		2,023,938
79,900	e*	Hayes Lemmerz International, Inc		427,465
17,768		Kaman Corp		554,184
6,280	*	Miller Industries, Inc		157,628
43,653	*	Orbital Sciences Corp		917,150
9,152	e	Polaris Industries, Inc		495,672
8,435	e	Triumph Group, Inc		552,239
176,973	e*	Visteon Corp		1,433,481
		TOTAL TRANSPORTATION EQUIPMENT		14,212,814
TRANSPORTATION SERVICES - 0.77%
1,100	e*	Dynamex, Inc		28,083
19,310	*	HUB Group, Inc (Class A)		678,940
30,233	*	Lear Corp		1,076,597
96,167	e	Pacer International, Inc		2,261,848
		TOTAL TRANSPORTATION SERVICES		4,045,468
TRUCKING AND WAREHOUSING - 0.01%
2,749	*	Saia, Inc		74,938
		TOTAL TRUCKING AND WAREHOUSING		74,938
WATER TRANSPORTATION - 0.25%
40,236		Horizon Lines, Inc (Class A)		1,318,131
		TOTAL WATER TRANSPORTATION		1,318,131
WHOLESALE TRADE-DURABLE GOODS - 2.55%
76,154		Agilysys, Inc		1,713,465
91,599		Applied Industrial Technologies, Inc		2,702,171
2,514	e	BlueLinx Holdings, Inc		26,372
1,000	*	Digi International, Inc		14,740
253,564	e*	Genesis Microchip, Inc		2,373,359
121,128		IKON Office Solutions, Inc		1,890,808
43,064	*	Insight Enterprises, Inc		971,954
40,982	*	Keystone Automotive Industries, Inc		1,695,425
6,164	*	MWI Veterinary Supply, Inc		245,882
80,565	e*	PSS World Medical, Inc		1,467,894
29,191	e*	Tyler Technologies, Inc		362,260
		TOTAL WHOLESALE TRADE-DURABLE GOODS		13,464,330
WHOLESALE TRADE-NONDURABLE GOODS - 2.21%
257,400	*	Alliance One International, Inc		2,586,870
455	e*	Allscripts Healthcare Solutions, Inc		11,593
3,000	e*	Core-Mark Holding Co, Inc		107,940
65,000	e	K-Swiss, Inc (Class A)		1,841,450
22,200		Men's Wearhouse, Inc		1,133,754
9,889		Myers Industries, Inc		218,646
76,643		Spartan Stores, Inc		2,522,314
13,500		Stride Rite Corp		273,510
44,603	*	United Stationers, Inc		2,972,344
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		11,668,421

51

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
				VALUE
		TOTAL COMMON STOCKS	$	514,705,273
		(Cost $479,257,524)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 29.96%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 2.57%
$      13,555,000	d	Federal Home Loan Bank 4.800%, 07/02/07		13,555,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		13,555,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 27.39%
144,386,429		State Street Navigator Securities Lending Prime Portfolio		144,386,429
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOAN		144,386,429
		TOTAL SHORT-TERM INVESTMENTS		157,941,429
		(Cost $157,939,621)
		TOTAL PORTFOLIO - 127.58%		672,646,702
		(Cost $637,197,145)
		OTHER ASSETS & LIABILITIES, NET - (27.58)%		(145,402,548	)
		NET ASSETS - 100.00%	$	527,244,154
	*	Non-income producing.
	**	Percentage represents less than 0.01%.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other
		requirements on open futures contracts in the amount of $14,587,573.
	e	All or a portion of these securities are out on loan.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.

52

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.75%
AMUSEMENT AND RECREATION SERVICES - 0.61%
11,418	*	Activision, Inc	$	213,174
4,436		Harrah's Entertainment, Inc		378,213
3,032	*	Penn National Gaming, Inc		182,193
35,804		Walt Disney Co		1,222,349
831		Warner Music Group Corp		12,008
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,007,937
APPAREL AND ACCESSORY STORES - 0.92%
3,749		Abercrombie & Fitch Co (Class A)		273,602
7,543		American Eagle Outfitters, Inc		193,553
2,297	*	AnnTaylor Stores Corp		81,360
7,281	*	Chico's FAS, Inc		177,220
3,960	*	Hanesbrands, Inc		107,039
13,294	*	Kohl's Corp		944,273
14,507		Limited Brands, Inc		398,217
10,614		Nordstrom, Inc		542,588
5,755		Ross Stores, Inc		177,254
4,944	*	Urban Outfitters, Inc		118,804
		TOTAL APPAREL AND ACCESSORY STORES		3,013,910
APPAREL AND OTHER TEXTILE PRODUCTS - 0.15%
2,249		Guess ?, Inc		108,042
223		Liz Claiborne, Inc		8,318
2,282		Phillips-Van Heusen Corp		138,221
2,523		Polo Ralph Lauren Corp		247,532
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		502,113
AUTO REPAIR, SERVICES AND PARKING - 0.07%
8,654	*	Hertz Global Holdings, Inc		229,937
		TOTAL AUTO REPAIR, SERVICES AND PARKING		229,937
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.28%
4,342		Advance Auto Parts		175,981
1,921	*	Autozone, Inc		262,447
8,616	*	Carmax, Inc		219,708
2,695	*	Copart, Inc		82,440
4,944	*	O'Reilly Automotive, Inc		180,703
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		921,279
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.22%
5,310	e	Fastenal Co		222,277
47,286		Home Depot, Inc		1,860,704
62,326		Lowe's Cos, Inc		1,912,785
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		3,995,766

53

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
BUSINESS SERVICES - 11.38%
24,567		Accenture Ltd (Class A)	$	1,053,679
2,643		Acxiom Corp		69,907
24,380	*	Adobe Systems, Inc		978,857
1,687	*	Affiliated Computer Services, Inc (Class A)		95,687
1,021		Aircastle Ltd		40,646
7,037	e*	Akamai Technologies, Inc		342,280
3,260	*	Alliance Data Systems Corp		251,933
8,180	*	Amdocs Ltd		325,728
2,925	e*	aQuantive, Inc		186,615
9,577	*	Autodesk, Inc		450,885
22,959		Automatic Data Processing, Inc		1,112,823
1,478	*	Avis Budget Group, Inc		42,020
16,136	*	BEA Systems, Inc		220,902
8,318	*	BMC Software, Inc		252,035
1,644		Brink's Co		101,747
10,646		CA, Inc		274,986
3,181	*	Cadence Design Systems, Inc		69,855
5,405	*	Ceridian Corp		189,175
2,868	e*	Cerner Corp		159,088
2,585	e*	Checkfree Corp		103,917
3,151	*	ChoicePoint, Inc		133,760
7,559	*	Citrix Systems, Inc		254,512
1,739	*e	Clear Channel Outdoor Holdings, Inc (Class A)		49,283
5,918	*	Cognizant Technology Solutions Corp (Class A)		444,383
10,110	*	Compuware Corp		119,905
2,329	*	DST Systems, Inc		184,480
47,308	*	eBay, Inc		1,522,371
12,815	*	Electronic Arts, Inc		606,406
12,346		Electronic Data Systems Corp		342,355
6,001		Equifax, Inc		266,564
1,716	*	F5 Networks, Inc		138,310
1,755		Factset Research Systems, Inc		119,954
236		Fair Isaac Corp		9,468
6,721		Fidelity National Information Services, Inc		364,816
4,935	e	First Data Corp		161,226
7,009	*	Fiserv, Inc		398,111
1,005	*	Getty Images, Inc		48,049
9,483	*	Google, Inc (Class A)		4,963,213
7,047	*	HLTH Corp		98,728
7,254		IMS Health, Inc		233,071
11,980	e*	Interpublic Group of Cos, Inc		136,572
14,027	*	Intuit, Inc		421,932
7,329	*	Iron Mountain, Inc		191,507
16,767	*	Juniper Networks, Inc		422,025
1,708	*	Kinetic Concepts, Inc		88,765
3,525		Lamar Advertising Co (Class A)		221,229
3,480		Manpower, Inc		320,995
3,298	e	Mastercard, Inc (Class A)		547,039
6,376	*	McAfee, Inc		224,435
339,905		Microsoft Corp		10,017,000
3,552		MoneyGram International, Inc		99,278
5,099	*	Monster Worldwide, Inc		209,569
3,838	*	NAVTEQ Corp		162,501

54

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
975	*	NCR Corp	$	51,227
1,751	*	Novell, Inc		13,640
13,694		Omnicom Group, Inc		724,686
159,589	*	Oracle Corp		3,145,499
7,801	*	Red Hat, Inc		173,806
6,101		Robert Half International, Inc		222,687
3,769	*	Salesforce.com, Inc		161,539
9,731		ServiceMaster Co		150,441
37,663	*	Sun Microsystems, Inc		198,107
5,376	*	Symantec Corp		108,595
5,984	*	Synopsys, Inc		158,157
1,324	e	Total System Services, Inc		39,071
10,036	*	VeriSign, Inc		318,442
12,018		Waste Management, Inc		469,303
322	*	WebMD Health Corp (Class A)		15,157
50,068	*	Yahoo!, Inc		1,358,345
		TOTAL BUSINESS SERVICES		37,153,279
CHEMICALS AND ALLIED PRODUCTS - 10.38%
63,696		Abbott Laboratories		3,410,921
886	e*	Abraxis BioScience, Inc		19,696
4,222		Air Products & Chemicals, Inc		339,322
3,304		Albemarle Corp		127,303
709		Alberto-Culver Co		16,817
34,329	*	Amgen, Inc		1,898,050
3,766		Avery Dennison Corp		250,364
16,747		Avon Products, Inc		615,452
4,411	e*	Barr Pharmaceuticals, Inc		221,565
2,703	*	Biogen Idec, Inc		144,611
81,461		Bristol-Myers Squibb Co		2,570,909
1,921		Cabot Corp		91,593
3,587		Celanese Corp (Series A)		139,104
2,665	e*	Cephalon, Inc		214,239
764	*	Charles River Laboratories International, Inc		39,438
630		Chemtura Corp		6,999
2,720		Church & Dwight Co, Inc		131,811
5,647		Clorox Co		350,679
19,456		Colgate-Palmolive Co		1,261,722
3,571		Dade Behring Holdings, Inc		189,692
6,082		Du Pont (E.I.) de Nemours & Co		309,209
7,283		Ecolab, Inc		310,984
20,110		Eli Lilly & Co		1,123,747
4,524		Estee Lauder Cos (Class A)		205,887
13,250	*	Forest Laboratories, Inc		604,863
19,302	*	Genentech, Inc		1,460,389
10,981	*	Genzyme Corp		707,176
38,398	*	Gilead Sciences, Inc		1,488,690
6,445	*	Hospira, Inc		251,613
1,350	*	Idexx Laboratories, Inc		127,751
2,478	*	ImClone Systems, Inc		87,622
2,670		International Flavors & Fragrances, Inc		139,214
678	*	Invitrogen Corp		50,003
750		Lubrizol Corp		48,413
74,100		Merck & Co, Inc		3,690,180

55

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
7,710	*	Millennium Pharmaceuticals, Inc	$	81,495
22,546		Monsanto Co		1,522,757
2,744	*	Mosaic Co		107,071
10,674	*	Mylan Laboratories, Inc		194,160
5,970		Nalco Holding Co		163,877
2,265	*	NBTY, Inc		97,848
5,010	*	PDL BioPharma, Inc		116,733
13,227		Praxair, Inc		952,212
51,474		Procter & Gamble Co		3,149,694
3,414		Rohm & Haas Co		186,678
4,303		RPM International, Inc		99,442
61,653		Schering-Plough Corp		1,876,717
379		Scotts Miracle-Gro Co (Class A)		16,274
4,402	*	Sepracor, Inc		180,570
4,596		Sherwin-Williams Co		305,496
1,732	e	Sigma-Aldrich Corp		73,904
502		Valspar Corp		14,262
3,356	*	VCA Antech, Inc		126,488
5,234	*	Vertex Pharmaceuticals, Inc		149,483
3,741	*	Warner Chilcott Ltd (Class A)		67,675
2,462	*	Watson Pharmaceuticals, Inc		80,089
29,286		Wyeth		1,679,259
		TOTAL CHEMICALS AND ALLIED PRODUCTS		33,888,212
COAL MINING - 0.36%
6,144	e	Arch Coal, Inc		213,811
7,540		Consol Energy, Inc		347,669
3,500		Massey Energy Co		93,275
11,167		Peabody Energy Corp		540,259
		TOTAL COAL MINING		1,195,014
COMMUNICATIONS - 2.33%
17,298	*	American Tower Corp (Class A)		726,516
4,774	*	Avaya, Inc		80,394
3,012	*	Cablevision Systems Corp (Class A)		109,004
1,270	*	Central European Media Enterprises Ltd (Class A)		123,927
2,488		Citizens Communications Co		37,992
4,335		Clear Channel Communications, Inc		163,950
74,872	*	Comcast Corp (Class A)		2,105,401
7,848	*	Crown Castle International Corp		284,647
2,149	e*	CTC Media, Inc		58,324
31,221	*	DIRECTV Group, Inc		721,517
8,677	*	EchoStar Communications Corp (Class A)		376,321
3,317		Global Payments, Inc		131,519
487	*	IAC/InterActiveCorp		16,855
2,106	*	Leap Wireless International, Inc		177,957
63,039	e*	Level 3 Communications, Inc		368,778
8,014	e*	Liberty Global, Inc (Class A)		328,895
16,163	*	Liberty Media Holding Corp (Interactive A)		360,920
2,361	*	MetroPCS Communications, Inc		78,007
3,075	e*	NeuStar, Inc (Class A)		89,083
6,747	*	NII Holdings, Inc		544,753
4,224	e*	SBA Communications Corp (Class A)		141,884
1,902		Telephone & Data Systems, Inc		119,008

56

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,516	*	Time Warner Cable, Inc (Class A)	$	137,722
236	*	US Cellular Corp		21,382
10,838		Windstream Corp		159,969
12,529	e*	XM Satellite Radio Holdings, Inc (Class A)		147,466
		TOTAL COMMUNICATIONS		7,612,191
DEPOSITORY INSTITUTIONS - 0.99%
722		Bank of Hawaii Corp		37,284
629		Capitol Federal Financial		23,223
2,274		Commerce Bancorp, Inc		84,115
8,974		Hudson City Bancorp, Inc		109,662
2,891		Investors Financial Services Corp		178,288
16,143		Mellon Financial Corp		710,292
7,702		Northern Trust Corp		494,776
6,221		People's United Financial, Inc		110,298
10,778		State Street Corp		737,215
4,323		Synovus Financial Corp		132,716
30,161		Western Union Co		628,254
		TOTAL DEPOSITORY INSTITUTIONS		3,246,123
EATING AND DRINKING PLACES - 0.90%
4,694		Brinker International, Inc		137,393
2,557	e	Burger King Holdings, Inc		67,351
2,979	e*	Cheesecake Factory		73,045
5,852		Darden Restaurants, Inc		257,429
10,121		McDonald's Corp		513,742
30,666	*	Starbucks Corp		804,676
7,834		Tim Hortons, Inc		240,896
3,555		Wendy's International, Inc		130,646
21,680		Yum! Brands, Inc		709,370
		TOTAL EATING AND DRINKING PLACES		2,934,548
EDUCATIONAL SERVICES - 0.24%
5,784	*	Apollo Group, Inc (Class A)		337,959
3,997	*	Career Education Corp		134,979
1,763	*	ITT Educational Services, Inc		206,941
1,656	*	Laureate Education, Inc		102,109
		TOTAL EDUCATIONAL SERVICES		781,988
ELECTRIC, GAS, AND SANITARY SERVICES - 1.88%
27,770	*	AES Corp		607,608
6,698	*	Allegheny Energy, Inc		346,555
1,704	*	Allied Waste Industries, Inc		22,936
373		Aqua America, Inc		8,389
13,283		Centerpoint Energy, Inc		231,124
5,791		Constellation Energy Group, Inc		504,801
4,818	*	Covanta Holding Corp		118,764
2,520	e	DPL, Inc		71,417
2,263	*	Dynegy, Inc (Class A)		21,363
12,647		Exelon Corp		918,172
7,255	*	Mirant Corp		309,426
8,041	e*	NRG Energy, Inc		334,264
11,916		PPL Corp		557,550
2,441		Questar Corp		129,007

57

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
6,157		Republic Services, Inc	$	188,650
1,332	*	Sierra Pacific Resources		23,390
3,634	*	Stericycle, Inc		161,568
13,970		TXU Corp		940,181
20,747		Williams Cos, Inc		656,020
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		6,151,185
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 10.39%
9,302	e*	Advanced Micro Devices, Inc		133,019
15,150		Altera Corp		335,270
4,583		Ametek, Inc		181,853
7,456		Amphenol Corp (Class A)		265,806
13,540		Analog Devices, Inc		509,646
35,885	*	Apple Computer, Inc		4,379,405
3,610	*	Avnet, Inc		143,100
853		AVX Corp		14,279
19,205	*	Broadcom Corp (Class A)		561,746
3,486	*	Ciena Corp		125,949
251,342	*	Cisco Systems, Inc		6,999,875
2,355		Cooper Industries Ltd (Class A)		134,447
869	e*	Cree, Inc		22,464
6,314	e*	Cypress Semiconductor Corp		147,053
1,564	*	Dolby Laboratories, Inc (Class A)		55,381
666		Eaton Corp		61,938
1,679	e*	Energizer Holdings, Inc		167,228
2,103	*	Fairchild Semiconductor International, Inc		40,630
1,382	e*	First Solar, Inc		123,399
4,780	e	Garmin Ltd		353,577
2,696		Harman International Industries, Inc		314,893
5,557		Harris Corp		303,134
27,558		Honeywell International, Inc		1,550,964
3,138	*	Integrated Device Technology, Inc		47,917
240,485		Intel Corp		5,713,924
681	*	International Rectifier Corp		25,374
2,980		Intersil Corp (Class A)		93,751
1,378	*	Jarden Corp		59,268
4,667	e*	JDS Uniphase Corp		62,678
1,715		L-3 Communications Holdings, Inc		167,024
1,229		Lincoln Electric Holdings, Inc		91,241
10,506	e	Linear Technology Corp		380,107
18,799	*	LSI Logic Corp		141,180
19,463	*	Marvell Technology Group Ltd		354,421
13,528		Maxim Integrated Products, Inc		451,970
9,279	*	MEMC Electronic Materials, Inc		567,132
8,820		Microchip Technology, Inc		326,693
10,199	*	Micron Technology, Inc		127,793
3,244		Molex, Inc		97,352
12,979		National Semiconductor Corp		366,916
15,365	*	Network Appliance, Inc		448,658
3,354	*	Novellus Systems, Inc		95,153
14,986	*	Nvidia Corp		619,072
5,687	*	QLogic Corp		94,689
68,996		Qualcomm, Inc		2,993,736
3,937	e	RadioShack Corp		130,472

58

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,573	e*	Rambus, Inc	$	64,243
4,864	*	Sanmina-SCI Corp		15,224
2,180	*	Silicon Laboratories, Inc		75,450
63,361	e*	Sirius Satellite Radio, Inc		191,350
919	*	Sunpower Corp (Class A)		57,943
59,341		Texas Instruments, Inc		2,233,002
2,539	*	Thomas & Betts Corp		147,262
3,711	*	Varian Semiconductor Equipment Associates, Inc		148,663
1,246	*	Vishay Intertechnology, Inc		19,712
2,309		Whirlpool Corp		256,761
12,336		Xilinx, Inc		330,235
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		33,921,422
ENGINEERING AND MANAGEMENT SERVICES - 1.17%
5,448	e*	Amylin Pharmaceuticals, Inc		224,240
15,707	*	Celgene Corp		900,482
1,611	e	Corporate Executive Board Co		104,570
3,720		Fluor Corp		414,296
2,205	*	Gen-Probe, Inc		133,226
2,461	*	Hewitt Associates, Inc (Class A)		78,752
4,786	*	Jacobs Engineering Group, Inc		275,243
4,607	*	McDermott International, Inc		382,934
9,382		Moody's Corp		583,560
14,174		Paychex, Inc		554,487
3,062	*	Shaw Group, Inc		141,740
537	*	URS Corp		26,071
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,819,601
FABRICATED METAL PRODUCTS - 0.43%
1,181	e*	Alliant Techsystems, Inc		117,096
4,294		Ball Corp		228,312
6,731	*	Crown Holdings, Inc		168,073
15,319		Illinois Tool Works, Inc		830,137
1,121		Stanley Works		68,045
		TOTAL FABRICATED METAL PRODUCTS		1,411,663
FOOD AND KINDRED PRODUCTS - 3.37%
19,815		Anheuser-Busch Cos, Inc		1,033,550
5,679		Campbell Soup Co		220,402
63,074		Coca-Cola Co		3,299,401
1,147		General Mills, Inc		67,008
7,408		H.J. Heinz Co		351,658
2,822	*	Hansen Natural Corp		121,290
4,922		Hershey Co		249,152
6,599		Kellogg Co		341,762
3,628		McCormick & Co, Inc		138,517
1,463		Pepsi Bottling Group, Inc		49,274
67,425		PepsiCo, Inc		4,372,511
15,910		Sara Lee Corp		276,834
8,729	e	Wrigley (Wm.) Jr Co		482,801
		TOTAL FOOD AND KINDRED PRODUCTS		11,004,160
FOOD STORES - 0.25%
18,611		Kroger Co		523,527

59

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,390	e*	Panera Bread Co (Class A)	$	64,023
6,067	e	Whole Foods Market, Inc		232,366
		TOTAL FOOD STORES		819,916
FORESTRY - 0.00%**
248		Rayonier, Inc		11,195
		TOTAL FORESTRY		11,195
FURNITURE AND FIXTURES - 0.27%
438		Hillenbrand Industries, Inc		28,470
1,905		HNI Corp		78,105
6,431		Johnson Controls, Inc		744,517
958		Masco Corp		27,274
		TOTAL FURNITURE AND FIXTURES		878,366
FURNITURE AND HOMEFURNISHINGS STORES - 0.27%
11,469	*	Bed Bath & Beyond, Inc		412,769
3,061	e	Circuit City Stores, Inc		46,160
6,459	*	GameStop Corp (Class A)		252,547
2,971		Steelcase, Inc (Class A)		54,964
3,901	e	Williams-Sonoma, Inc		123,194
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		889,634
GENERAL BUILDING CONTRACTORS - 0.04%
256		Centex Corp		10,266
83	*	NVR, Inc		56,419
3,134		Pulte Homes, Inc		70,358
		TOTAL GENERAL BUILDING CONTRACTORS		137,043
GENERAL MERCHANDISE STORES - 2.59%
4,623	*	Big Lots, Inc		136,009
12,770		Costco Wholesale Corp		747,300
12,904		Dollar General Corp		282,856
6,138		Family Dollar Stores, Inc		210,656
9,348		JC Penney Co, Inc		676,608
4,902		Saks, Inc		104,658
35,404		Target Corp		2,251,694
18,825		TJX Cos, Inc		517,688
73,256		Wal-Mart Stores, Inc		3,524,346
		TOTAL GENERAL MERCHANDISE STORES		8,451,815
HEALTH SERVICES - 1.91%
3,625		AmerisourceBergen Corp		179,329
381	e	Brookdale Senior Living, Inc		17,362
11,911		Cigna Corp		621,992
342	*	Community Health Systems, Inc		13,834
2,633	*	Covance, Inc		180,518
6,052	e*	Coventry Health Care, Inc		348,898
4,264	*	DaVita, Inc		229,744
2,362	*	Edwards Lifesciences Corp		116,541
9,790	*	Express Scripts, Inc		489,598
4,892	*	Laboratory Corp of America Holdings		382,848
3,640	*	Lincare Holdings, Inc		145,054
3,107		Manor Care, Inc		202,856

60

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
11,344		McKesson Corp	$	676,556
11,580	*	Medco Health Solutions, Inc		903,124
610		Omnicare, Inc		21,997
2,088	*	Pediatrix Medical Group, Inc		115,153
4,062		Pharmaceutical Product Development, Inc		155,453
5,998	e	Quest Diagnostics, Inc		309,797
2,472	*	Sierra Health Services, Inc		102,786
13,569	e*	Tenet Healthcare Corp		88,334
187	*	Triad Hospitals, Inc		10,053
370		Universal Health Services, Inc (Class B)		22,755
11,454	*	WellPoint, Inc		914,373
		TOTAL HEALTH SERVICES		6,248,955
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.09%
2,916	*	Foster Wheeler Ltd		311,983
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		311,983
HOLDING AND OTHER INVESTMENT OFFICES - 2.93%
1,303	e*	Affiliated Managers Group, Inc		167,774
216		Apartment Investment & Management Co (Class A)		10,891
4,139		Duke Realty Corp		147,638
474	e	Essex Property Trust, Inc		55,126
1,173		Federal Realty Investment Trust		90,626
4,920		General Growth Properties, Inc		260,514
338		Health Care REIT, Inc		13,642
115,700		iShares Russell 1000 Growth Index Fund		6,850,597
1,360		Kilroy Realty Corp		96,342
3,027		Macerich Co		249,485
568		Plum Creek Timber Co, Inc		23,663
9,268		Prologis		527,349
424		Public Storage, Inc		32,572
5,038		Simon Property Group, Inc		468,736
1,333		Taubman Centers, Inc		66,130
780	*	TFS Financial Corp		9,001
5,810	e	UDR, Inc		152,803
5,454		Ventas, Inc		197,708
3,147	e	Weingarten Realty Investors		129,342
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		9,549,939
HOTELS AND OTHER LODGING PLACES - 0.92%
2,328		Boyd Gaming Corp		114,514
1,313		Choice Hotels International, Inc		51,890
16,229		Hilton Hotels Corp		543,185
4,316	e*	Las Vegas Sands Corp		329,699
13,500		Marriott International, Inc (Class A)		583,740
4,901	*	MGM Mirage		404,234
1,661	e	Orient-Express Hotels Ltd (Class A)		88,697
8,904		Starwood Hotels & Resorts Worldwide, Inc		597,191
1,073	e	Station Casinos, Inc		93,136
592	*	Wyndham Worldwide Corp		21,466
2,079	e	Wynn Resorts Ltd		186,466
		TOTAL HOTELS AND OTHER LODGING PLACES		3,014,218

61

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 8.03%
2,480	*	AGCO Corp	$	107,657
7,516		American Standard Cos, Inc		443,294
57,207		Applied Materials, Inc		1,136,703
1,410		Black & Decker Corp		124,517
16,521	*	Brocade Communications Systems, Inc		129,194
719		Carlisle Cos, Inc		33,441
26,509		Caterpillar, Inc		2,075,655
2,521		CDW Corp		214,209
4,303		Cummins, Inc		435,507
510		Deere & Co		61,577
94,047	*	Dell, Inc		2,685,042
2,724		Diebold, Inc		142,193
3,011		Donaldson Co, Inc		107,041
2,727		Dover Corp		139,486
3,553	*	Dresser-Rand Group, Inc		140,344
86,808	*	EMC Corp		1,571,225
2,125		Flowserve Corp		152,150
2,716	*	FMC Technologies, Inc		215,162
47,270	d	General Electric Co		1,809,496
2,893		Graco, Inc		116,530
5,293	*	Grant Prideco, Inc		284,922
110,751		Hewlett-Packard Co		4,941,710
3,231		IDEX Corp		124,523
777		Ingersoll-Rand Co Ltd (Class A)		42,595
48,922		International Business Machines Corp		5,149,041
13,759		International Game Technology		546,232
4,784		Jabil Circuit, Inc		105,583
4,511		Joy Global, Inc		263,127
914		Kennametal, Inc		74,975
5,591	*	Lam Research Corp		287,377
327		Lennox International, Inc		11,193
2,127	*	Lexmark International, Inc (Class A)		104,882
2,488		Manitowoc Co, Inc		199,985
4,646		Pall Corp		213,670
810	*	Riverbed Technology, Inc		35,494
6,531	e	Rockwell Automation, Inc		453,513
5,614	*	SanDisk Corp		274,749
2,807	e*	Scientific Games Corp (Class A)		98,105
8,529		Seagate Technology, Inc		185,676
11,554	*	Solectron Corp		42,519
4,268	*	Terex Corp		346,988
1,778		Toro Co		104,706
5,278	*	Varian Medical Systems, Inc		224,368
2,571	e*	VeriFone Holdings, Inc		90,628
2,740	*	Western Digital Corp		53,019
2,913	*	Zebra Technologies Corp (Class A)		112,850
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		26,212,853
INSTRUMENTS AND RELATED PRODUCTS - 5.54%
2,392	e*	Advanced Medical Optics, Inc		83,433
16,706	*	Agilent Technologies, Inc		642,179
12,598		Allergan, Inc		726,149
1,418		Applera Corp (Applied Biosystems Group)		43,306
1,251	*	Armor Holdings, Inc		108,674

62

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,400		Bard (C.R.), Inc	$	363,572
474	e	Bausch & Lomb, Inc		32,915
26,967		Baxter International, Inc		1,519,321
2,080		Beckman Coulter, Inc		134,534
10,139		Becton Dickinson & Co		755,356
10,377		Biomet, Inc		474,436
802	e	Cooper Cos, Inc		42,763
10,135		Danaher Corp		765,193
6,294		Dentsply International, Inc		240,808
93		DRS Technologies, Inc		5,326
27,352		Emerson Electric Co		1,280,074
1,597	*	Intuitive Surgical, Inc		221,616
44,963		Johnson & Johnson		2,770,620
7,805		Kla-Tencor Corp		428,885
47,564		Medtronic, Inc		2,466,669
1,675	*	Mettler-Toledo International, Inc		159,979
2,195	e*	Millipore Corp		164,823
2,107		National Instruments Corp		68,625
1,238		PerkinElmer, Inc		32,262
7,436		Pitney Bowes, Inc		348,154
3,050	e*	Resmed, Inc		125,843
2,957	*	Respironics, Inc		125,939
6,975		Rockwell Collins, Inc		492,714
3,642		Roper Industries, Inc		207,958
14,005	*	St. Jude Medical, Inc		581,067
12,625		Stryker Corp		796,511
1,791	*	Techne Corp		102,463
651		Tektronix, Inc		21,965
3,975	*	Teradyne, Inc		69,881
8,617	*	Thermo Electron Corp		445,671
4,888	*	Trimble Navigation Ltd		157,394
4,177	e*	Waters Corp		247,947
9,802	*	Zimmer Holdings, Inc		832,092
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		18,087,117
INSURANCE AGENTS, BROKERS AND SERVICE - 0.04%
4,478		Brown & Brown, Inc		112,577
830	e	Gallagher (Arthur J.) & Co		23,140
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		135,717
INSURANCE CARRIERS - 2.09%
627		ACE Ltd		39,200
17,140		Aetna, Inc		846,716
18,544		Aflac, Inc		953,162
6,495		American International Group, Inc		454,845
164	e	CNA Financial Corp		7,821
395		Erie Indemnity Co (Class A)		21,346
107		Hanover Insurance Group, Inc		5,221
2,004		HCC Insurance Holdings, Inc		66,954
4,649	*	Health Net, Inc		245,467
6,959	*	Humana, Inc		423,873
460		PartnerRe Ltd		35,650
1,806	*	Philadelphia Consolidated Holding Co		75,491
777		Principal Financial Group		45,291

63

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,535		Prudential Financial, Inc	$	440,938
465		Transatlantic Holdings, Inc		33,075
55,467		UnitedHealth Group, Inc		2,836,582
1,893		W.R. Berkley Corp		61,598
1,698	*	WellCare Health Plans, Inc		153,686
813		XL Capital Ltd (Class A)		68,528
		TOTAL INSURANCE CARRIERS		6,815,444
JUSTICE, PUBLIC ORDER AND SAFETY - 0.05%
2,544	*	Corrections Corp of America		160,552
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		160,552
LEATHER AND LEATHER PRODUCTS - 0.27%
15,364	*	Coach, Inc		728,100
3,295	e*	CROCS, Inc		141,784
		TOTAL LEATHER AND LEATHER PRODUCTS		869,884
METAL MINING - 0.57%
1,681	e	Cleveland-Cliffs, Inc		130,563
1,872	e	Foundation Coal Holdings, Inc		76,078
12,985		Freeport-McMoRan Copper & Gold, Inc (Class B)		1,075,418
7,342		Newmont Mining Corp		286,779
3,000	e	Southern Copper Corp		282,780
		TOTAL METAL MINING		1,851,618
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.08%
2,143		Hasbro, Inc		67,312
7,248		Mattel, Inc		183,302
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		250,614
MISCELLANEOUS RETAIL - 2.09%
12,602	*	Amazon.com, Inc		862,103
443		Barnes & Noble, Inc		17,042
16,384		Best Buy Co, Inc		764,641
2,560	e*	Coldwater Creek, Inc		59,469
34,533		CVS Corp		1,258,728
1,600	*	Dick's Sporting Goods, Inc		93,072
3,997	*	Dollar Tree Stores, Inc		174,069
1,870		MSC Industrial Direct Co (Class A)		102,850
1,464	e*	Nutri/System, Inc		102,246
11,378	*	Office Depot, Inc		344,753
1,339		OfficeMax, Inc		52,623
5,840		Petsmart, Inc		189,508
29,605		Staples, Inc		702,527
5,592		Tiffany & Co		296,712
41,286		Walgreen Co		1,797,592
		TOTAL MISCELLANEOUS RETAIL		6,817,935
MOTION PICTURES - 0.95%
6,403	*	Discovery Holding Co (Class A)		147,205
2,123	*	DreamWorks Animation SKG, Inc (Class A)		61,227
62,354		News Corp (Class A)		1,322,528
2,364	e	Regal Entertainment Group (Class A)		51,843
22,395		Time Warner, Inc		471,191

64

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
25,304	*	Viacom, Inc (Class B)	$	1,053,406
		TOTAL MOTION PICTURES		3,107,400
NONDEPOSITORY INSTITUTIONS - 1.56%
42,864		American Express Co		2,622,420
335	e*	AmeriCredit Corp		8,894
5,846		Broadridge Financial Solutions, Inc		111,776
2,646		CapitalSource, Inc		65,065
2,512	e	First Marblehead Corp		97,064
10,734		Freddie Mac		651,554
17,030		SLM Corp		980,587
5,122		Textron, Inc		563,983
		TOTAL NONDEPOSITORY INSTITUTIONS		5,101,343
NONMETALLIC MINERALS, EXCEPT FUELS - 0.18%
1,980		Florida Rock Industries, Inc		133,650
3,981		Vulcan Materials Co		455,984
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		589,634
OIL AND GAS EXTRACTION - 5.02%
13,260		Baker Hughes, Inc		1,115,564
12,142		BJ Services Co		345,318
4,568	*	Cameron International Corp		326,475
2,095	e*	Cheniere Energy, Inc		81,265
11,079	e	Chesapeake Energy Corp		383,333
1,007	e*	CNX Gas Corp		30,814
570	*	Continental Resources, Inc		9,120
4,911	*	Denbury Resources, Inc		184,163
2,822	e	Diamond Offshore Drilling, Inc		286,602
5,722		ENSCO International, Inc		349,099
3,858		Equitable Resources, Inc		191,202
4,206	*	Global Industries Ltd		112,805
9,435		GlobalSantaFe Corp		681,679
37,838		Halliburton Co		1,305,411
3,018	e*	Helix Energy Solutions Group, Inc		120,448
10,241	*	Nabors Industries Ltd		341,845
7,341	*	National Oilwell Varco, Inc		765,226
5,547		Noble Corp		540,943
2,095	*	Oceaneering International, Inc		110,281
5,091	*	Pride International, Inc		190,709
2,120	e*	Quicksilver Resources, Inc		94,510
6,128		Range Resources Corp		229,248
3,271		Rowan Cos, Inc		134,046
48,783		Schlumberger Ltd		4,143,628
8,154	e	Smith International, Inc		478,151
7,072	*	Southwestern Energy Co		314,704
3,345	*	Superior Energy Services		133,532
3,159	*	Tetra Technologies, Inc		89,084
1,524	e	Tidewater, Inc		108,021
2,430	*	Todco		114,720
11,920	*	Transocean, Inc		1,263,282
1,515	*	Unit Corp		95,309
764	e	W&T Offshore, Inc		21,384
13,933	*	Weatherford International Ltd		769,659

65

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
15,364		XTO Energy, Inc	$	923,376
		TOTAL OIL AND GAS EXTRACTION		16,384,956
PAPER AND ALLIED PRODUCTS - 0.23%
8,900	*	Domtar Corporation		99,324
8,402		Kimberly-Clark Corp		562,010
3,691		Packaging Corp of America		93,419
		TOTAL PAPER AND ALLIED PRODUCTS		754,753
PERSONAL SERVICES - 0.17%
4,276		Cintas Corp		168,603
13,573		H&R Block, Inc		317,201
1,472	e	Weight Watchers International, Inc		74,836
		TOTAL PERSONAL SERVICES		560,640
PETROLEUM AND COAL PRODUCTS - 2.00%
4,012		Cabot Oil & Gas Corp		147,963
47,567		Exxon Mobil Corp		3,989,920
2,266		Frontier Oil Corp		99,183
1,974	e	Holly Corp		146,451
1,004		Noble Energy, Inc		62,640
5,011		Sunoco, Inc		399,276
5,651		Tesoro Corp		322,955
17,905		Valero Energy Corp		1,322,463
585	e	Western Refining, Inc		33,813
		TOTAL PETROLEUM AND COAL PRODUCTS		6,524,664
PRIMARY METAL INDUSTRIES - 1.18%
4,584	*	AK Steel Holding Corp		171,304
4,231		Allegheny Technologies, Inc		443,747
602		Carpenter Technology Corp		78,447
1,915		Chaparral Steel Co		137,631
2,523	*	CommScope, Inc		147,217
65,096	*	Corning, Inc		1,663,203
2,158	*	General Cable Corp		163,469
826		Hubbell, Inc (Class B)		44,786
2,776		Nucor Corp		162,812
5,701		Precision Castparts Corp		691,873
1,272		Steel Dynamics, Inc		53,310
2,824	e*	Titanium Metals Corp		90,086
		TOTAL PRIMARY METAL INDUSTRIES		3,847,885
PRINTING AND PUBLISHING - 0.51%
2,488	e	Dow Jones & Co, Inc		142,936
2,485		Dun & Bradstreet Corp		255,905
1,492		Harte-Hanks, Inc		38,315
1,942		John Wiley & Sons, Inc (Class A)		93,779
14,225		McGraw-Hill Cos, Inc		968,438
1,988		Meredith Corp		122,461
1,461	e	New York Times Co (Class A)		37,109
		TOTAL PRINTING AND PUBLISHING		1,658,943
RAILROAD TRANSPORTATION - 0.80%
13,900		Burlington Northern Santa Fe Corp		1,183,446

66

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,093		CSX Corp	$	139,432
1,840	e*	Kansas City Southern Industries, Inc		69,074
8,270		Norfolk Southern Corp		434,754
6,777		Union Pacific Corp		780,372
		TOTAL RAILROAD TRANSPORTATION		2,607,078
REAL ESTATE - 0.24%
7,929	*	CB Richard Ellis Group, Inc (Class A)		289,409
2,971	e	Forest City Enterprises, Inc (Class A)		182,657
1,452		Jones Lang LaSalle, Inc		164,802
2,924	e	St. Joe Co		135,498
		TOTAL REAL ESTATE		772,366
RUBBER AND MISCELLANEOUS PLASTIC PRODUCT - 0.42%
8,652	*	Goodyear Tire & Rubber Co		300,744
5,971		Newell Rubbermaid, Inc		175,727
14,752		Nike, Inc (Class B)		859,894
937		Sealed Air Corp		29,066
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		1,365,431
SECURITY AND COMMODITY BROKERS - 3.08%
2,717		A.G. Edwards, Inc		229,722
1,473	e	BlackRock, Inc		230,657
2,223	e	Cbot Holdings, Inc (Class A)		459,272
41,949		Charles Schwab Corp		860,793
1,453		Chicago Mercantile Exchange Holdings, Inc		776,425
6,647	*	E*Trade Financial Corp		146,832
4,574		Eaton Vance Corp		202,079
3,739		Federated Investors, Inc (Class B)		143,316
6,861		Franklin Resources, Inc		908,877
7,405		Goldman Sachs Group, Inc		1,605,034
2,898	*	IntercontinentalExchange, Inc		428,469
2,015	e*	Investment Technology Group, Inc		87,310
5,928		Janus Capital Group, Inc		165,036
2,108		Lazard Ltd (Class A)		94,923
2,248		Legg Mason, Inc		221,158
8,887		Merrill Lynch & Co, Inc		742,775
2,488		Morgan Stanley		208,693
3,731	*	Nasdaq Stock Market, Inc		110,848
3,369		Nuveen Investments, Inc (Class A)		209,383
3,794		Nymex Holdings, Inc		476,640
10,913	e	NYSE Euronext		803,415
5,086		SEI Investments Co		147,697
11,198		T Rowe Price Group, Inc		581,064
10,285	*	TD Ameritrade Holding Corp		205,700
		TOTAL SECURITY AND COMMODITY BROKERS		10,046,118
SPECIAL TRADE CONTRACTORS - 0.04%
4,761	e*	Quanta Services, Inc		146,020
		TOTAL SPECIAL TRADE CONTRACTORS		146,020
STONE, CLAY, AND GLASS PRODUCTS - 0.87%
27,904		3M Co		2,421,788
1,992	e	Eagle Materials, Inc		97,708

67

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,901		Gentex Corp	$	116,191
6,001	*	Owens-Illinois, Inc		210,035
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		2,845,722
TOBACCO PRODUCTS - 1.19%
49,657		Altria Group, Inc		3,482,942
2,652		Loews Corp (Carolina Group)		204,920
3,720	e	UST, Inc		199,801
		TOTAL TOBACCO PRODUCTS		3,887,663
TRANSPORTATION BY AIR - 0.68%
9,919	e*	AMR Corp		261,366
4,071	*	Continental Airlines, Inc (Class B)		137,885
720		Copa Holdings S.A. (Class A)		48,413
9,915	*	Delta Air Lines, Inc		195,326
10,690		FedEx Corp		1,186,269
7,211	*	Northwest Airlines Corp		160,084
6,782		Southwest Airlines Co		101,120
2,808	e*	UAL Corp		113,977
		TOTAL TRANSPORTATION BY AIR		2,204,440
TRANSPORTATION EQUIPMENT - 3.08%
1,874		Autoliv, Inc		106,574
3,816	*	BE Aerospace, Inc		157,601
32,613		Boeing Co		3,136,066
2,328		General Dynamics Corp		182,096
5,179		Goodrich Corp		308,461
10,659		Harley-Davidson, Inc		635,383
3,582		Harsco Corp		186,264
966		ITT Industries, Inc		65,958
14,610		Lockheed Martin Corp		1,375,239
899		Northrop Grumman Corp		70,005
2,983		Oshkosh Truck Corp		187,690
10,282		Paccar, Inc		894,945
5,572	*	Pactiv Corp		177,691
9,395		Raytheon Co		506,297
2,382	*	Spirit Aerosystems Holdings, Inc (Class A)		85,871
1,524	e	Thor Industries, Inc		68,793
3,039	e	Trinity Industries, Inc		132,318
25,110		United Technologies Corp		1,781,052
		TOTAL TRANSPORTATION EQUIPMENT		10,058,304
TRANSPORTATION SERVICES - 0.27%
7,004		CH Robinson Worldwide, Inc		367,850
8,736		Expeditors International Washington, Inc		360,797
1,000	e	GATX Corp		49,250
4,058		UTI Worldwide, Inc		108,714
		TOTAL TRANSPORTATION SERVICES		886,611
TRUCKING AND WAREHOUSING - 0.72%
1,471		Con-way, Inc		73,903
4,407		J.B. Hunt Transport Services, Inc		129,213
2,479		Landstar System, Inc		119,612

68

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
27,632		United Parcel Service, Inc (Class B)	$	2,017,136
		TOTAL TRUCKING AND WAREHOUSING		2,339,864
WATER TRANSPORTATION - 0.17%
7,465		Carnival Corp		364,068
1,934		Frontline Ltd		88,674
2,329	*	Kirby Corp		89,410
		TOTAL WATER TRANSPORTATION		542,152
WHOLESALE TRADE-DURABLE GOODS - 0.40%
2,799	*	Arrow Electronics, Inc		107,566
493		BorgWarner, Inc		42,418
4,770	*	Cytyc Corp		205,635
1,779		Martin Marietta Materials, Inc		288,234
5,839	*	Patterson Cos, Inc		217,620
2,139	e	Pool Corp		83,485
243		Reliance Steel & Aluminum Co		13,671
2,456		W.W. Grainger, Inc		228,531
1,973	*	WESCO International, Inc		119,268
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,306,428
WHOLESALE TRADE-NONDURABLE GOODS - 0.89%
3,045		Airgas, Inc		145,856
1,548	e*	Bare Escentuals, Inc		52,864
2,268	e	Brown-Forman Corp (Class B)		165,745
15,922		Cardinal Health, Inc		1,124,720
341		Dean Foods Co		10,868
5,745	*	Endo Pharmaceuticals Holdings, Inc		196,651
3,738	*	Henry Schein, Inc		199,721
2,096		Herbalife Ltd		83,106
25,588		Sysco Corp		844,148
1,432	e*	Tractor Supply Co		74,536
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,898,215
		TOTAL COMMON STOCKS		325,741,756
		(Cost $292,705,011)
PRINICPAL		ISSUER
SHORT-TERM INVESTMENTS - 4.35%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.15%
$     490,000	d	Federal Home Loan Bank 0.000%, 07/02/07		490,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		490,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 4.20%
13,712,973		State Street Navigator Securities Lending Prime Portfolio		13,712,973
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		13,712,973
		TOTAL SHORT-TERM INVESTMENTS		14,202,973
		(Cost $14,202,907)

69

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
				VALUE
		TOTAL PORTFOLIO - 104.10%	$	339,944,729
		(Cost $306,907,918)
		OTHER ASSETS & LIABILITIES, NET - (4.10)%		(13,404,564	)
		NET ASSETS - 100.00%	$	326,540,165
	*	Non-income producing.
	**	Percentage represents less than 0.01%.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other
		requirements on open futures contracts in the amount of $520,428.
	e	All or a portion of these securities are out on loan.

70

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.31%
AMUSEMENT AND RECREATION SERVICES - 0.60%
4,453		Harrah's Entertainment, Inc	$	379,663
2,253		International Speedway Corp (Class A)		118,756
62,935		Walt Disney Co		2,148,601
1,870		Warner Music Group Corp		27,022
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,674,042
APPAREL AND ACCESSORY STORES - 0.19%
254	*	AnnTaylor Stores Corp		8,997
8,503		Foot Locker, Inc		185,365
33,558		Gap, Inc		640,958
		TOTAL APPAREL AND ACCESSORY STORES		835,320
APPAREL AND OTHER TEXTILE PRODUCTS - 0.20%
6,820		Jones Apparel Group, Inc		192,665
6,064		Liz Claiborne, Inc		226,187
4,976	e	VF Corp		455,702
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		874,554
AUTO REPAIR, SERVICES AND PARKING - 0.08%
5,852	*	Hertz Global Holdings, Inc		155,488
3,382	e	Ryder System, Inc		181,952
		TOTAL AUTO REPAIR, SERVICES AND PARKING		337,440
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.07%
9,733	*	Autonation, Inc		218,409
3,394		United Auto Group Inc		72,258
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		290,667
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.41%
46,310		Home Depot, Inc		1,822,299
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		1,822,299
BUSINESS SERVICES - 1.62%
3,101	*	Affiliated Computer Services, Inc (Class A)		175,889
3,673	*	Avis Budget Group, Inc		104,423
8,644		CA, Inc		223,275
11,289	*	Cadence Design Systems, Inc		247,906
693	*	Ceridian Corp		24,255
959	e*	Checkfree Corp		38,552
10,119	*	Computer Sciences Corp		598,539
3,197	*	Compuware Corp		37,916
8,055	*	Convergys Corp		195,253
12,796		Electronic Data Systems Corp		354,833
10,933	e*	Expedia, Inc		320,228
2,890		Fair Isaac Corp		115,947

71

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,693		Fidelity National Information Services, Inc	$	91,896
35,168	e	First Data Corp		1,148,939
1,434	*	Getty Images, Inc		68,560
1,182		IMS Health, Inc		37,978
10,055	e*	Interpublic Group of Cos, Inc		114,627
9,613	*	Juniper Networks, Inc		241,959
8,659	*	NCR Corp		454,944
17,003	*	Novell, Inc		132,453
3,222		ServiceMaster Co		49,812
150,072	*	Sun Microsystems, Inc		789,379
43,174	*	Symantec Corp		872,115
19,791	*	Unisys Corp		180,890
4,056	*	United Rentals, Inc		131,982
12,512		Waste Management, Inc		488,594
		TOTAL BUSINESS SERVICES		7,241,144
CHEMICALS AND ALLIED PRODUCTS - 7.32%
6,414		Air Products & Chemicals, Inc		515,493
4,153		Alberto-Culver Co		98,509
18,498	*	Amgen, Inc		1,022,754
608		Avery Dennison Corp		40,420
1,914		Avon Products, Inc		70,340
15,235	*	Biogen Idec, Inc		815,073
1,012		Cabot Corp		48,252
2,040		Celanese Corp (Series A)		79,111
2,777	e*	Charles River Laboratories International, Inc		143,349
14,562		Chemtura Corp		161,784
1,024		Clorox Co		63,590
2,318		Colgate-Palmolive Co		150,322
2,365		Cytec Industries, Inc		150,816
53,365		Dow Chemical Co		2,359,800
43,122		Du Pont (E.I.) de Nemours & Co		2,192,322
4,868		Eastman Chemical Co		313,158
28,416		Eli Lilly & Co		1,587,886
2,273		FMC Corp		203,183
4,996		Huntsman Corp		121,453
1,870		International Flavors & Fragrances, Inc		97,502
1,648	*	Invitrogen Corp		121,540
14,195	*	King Pharmaceuticals, Inc		290,430
2,861		Lubrizol Corp		184,678
12,861	e	Lyondell Chemical Co		477,400
21,115		Merck & Co, Inc		1,051,527
9,376	*	Millennium Pharmaceuticals, Inc		99,104
4,941	*	Mosaic Co		192,798
393,266		Pfizer, Inc		10,055,812
8,946		PPG Industries, Inc		680,880
106,527		Procter & Gamble Co		6,518,387
3,918		Rohm & Haas Co		214,236
941		RPM International, Inc		21,747
1,402	e	Scotts Miracle-Gro Co (Class A)		60,202
4,662		Sigma-Aldrich Corp		198,928
5,837		Valspar Corp		165,829
2,405	*	Watson Pharmaceuticals, Inc		78,235
612	e	Westlake Chemical Corp		17,209

72

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
35,561		Wyeth	$	2,039,068
		TOTAL CHEMICALS AND ALLIED PRODUCTS		32,703,127
COMMUNICATIONS - 7.48%
20,093		Alltel Corp		1,357,282
345,349		AT&T, Inc		14,331,984
19,510	*	Avaya, Inc		328,548
8,275	*	Cablevision Systems Corp (Class A)		299,472
6,615		CenturyTel, Inc		324,466
11,327		Citizens Communications Co		172,963
21,839		Clear Channel Communications, Inc		825,951
64,509	*	Comcast Corp (Class A)		1,813,993
2,360	e*	Crown Castle International Corp		85,597
8,928		Embarq Corp		565,815
1,210		Hearst-Argyle Television, Inc		29,161
8,853	e*	IAC/InterActiveCorp		306,402
10,551	e*	Liberty Global, Inc (Class A)		433,013
7,222	*	Liberty Media Corp - Capital (Series A)		849,885
14,286	*	Liberty Media Holding Corp (Interactive A)		319,006
92,314	*	Qwest Communications International, Inc		895,446
157,456		Sprint Nextel Corp		3,260,914
2,927		Telephone & Data Systems, Inc		183,142
3,413	*	Time Warner Cable, Inc (Class A)		133,687
389	*	US Cellular Corp		35,243
162,535		Verizon Communications, Inc		6,691,566
11,971		Windstream Corp		176,692
		TOTAL COMMUNICATIONS		33,420,228
DEPOSITORY INSTITUTIONS - 16.12%
7,780		Associated Banc-Corp		254,406
4,713		Astoria Financial Corp		118,014
4,435		Bancorpsouth, Inc		108,480
248,430		Bank of America Corp		12,145,743
1,662		Bank of Hawaii Corp		85,826
41,976		Bank of New York Co Inc/The		1,739,485
30,847		BB&T Corp		1,254,856
1,512		BOK Financial Corp		80,771
383		Capitol Federal Financial		14,140
276,925		Citigroup, Inc		14,203,483
2,355		City National Corp		179,192
8,511		Colonial Bancgroup, Inc		212,520
8,733		Comerica, Inc		519,352
7,637	e	Commerce Bancorp, Inc		282,493
4,255		Commerce Bancshares, Inc		192,752
7,633		Compass Bancshares, Inc		526,524
2,988		Cullen/Frost Bankers, Inc		159,768
3,421		East West Bancorp, Inc		133,008
29,836	e	Fifth Third Bancorp		1,186,578
403		First Citizens Bancshares, Inc (Class A)		78,343
6,932	e	First Horizon National Corp		270,348
9,093	e	Fulton Financial Corp		131,121
17,051		Hudson City Bancorp, Inc		208,363
14,470	e	Huntington Bancshares, Inc		329,048
4,114	e	IndyMac Bancorp, Inc		120,005

73

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
191,234		JPMorgan Chase & Co	$	9,265,287
21,958		Keycorp		753,818
3,842		M&T Bank Corp		410,710
14,949		Marshall & Ilsley Corp		712,021
1,701		Mellon Financial Corp		74,844
28,650		National City Corp		954,618
17,970	e	New York Community Bancorp, Inc		305,849
1,826		Northern Trust Corp		117,302
2,975		People's United Financial, Inc		52,747
19,309		PNC Financial Services Group, Inc		1,382,138
16,164		Popular, Inc		259,755
39,453		Regions Financial Corp		1,305,894
5,984		Sky Financial Group, Inc		166,714
23,063		Sovereign Bancorp, Inc		487,552
4,253		State Street Corp		290,905
19,963		SunTrust Banks, Inc		1,711,628
8,816		Synovus Financial Corp		270,651
6,960		TCF Financial Corp		193,488
2,948		UnionBanCal Corp		175,996
97,339		US Bancorp		3,207,320
6,908	e	Valley National Bancorp		155,361
106,462		Wachovia Corp		5,456,178
5,691		Washington Federal, Inc		138,348
49,395		Washington Mutual, Inc		2,106,203
3,216		Webster Financial Corp		137,227
187,941		Wells Fargo & Co		6,609,885
2,461		Western Union Co		51,263
3,731		Whitney Holding Corp		112,303
4,176		Wilmington Trust Corp		173,346
6,255		Zions Bancorporation		481,072
		TOTAL DEPOSITORY INSTITUTIONS		72,055,042
EATING AND DRINKING PLACES - 0.60%
53,018		McDonald's Corp		2,691,194
		TOTAL EATING AND DRINKING PLACES		2,691,194
EDUCATIONAL SERVICES - 0.00%**
173	*	Laureate Education, Inc		10,667
		TOTAL EDUCATIONAL SERVICES		10,667
ELECTRIC, GAS, AND SANITARY SERVICES - 6.02%
4,501		AGL Resources, Inc		182,200
7,035		Alliant Energy Corp		273,310
12,963	*	Allied Waste Industries, Inc		174,482
12,245		Ameren Corp		600,127
22,326		American Electric Power Co, Inc		1,005,563
4,231		Aqua America, Inc		95,155
4,703		Atmos Energy Corp		141,372
13,169		CMS Energy Corp		226,507
14,625		Consolidated Edison, Inc		659,880
2,263		Constellation Energy Group, Inc		197,266
19,610		Dominion Resources, Inc		1,692,539
2,940	e	DPL, Inc		83,320
10,557		DTE Energy Co		509,059

74

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
72,219		Duke Energy Corp	$	1,321,608
15,872	*	Dynegy, Inc (Class A)		149,832
18,242		Edison International		1,023,741
38,438		El Paso Corp		662,287
4,498		Energen Corp		247,120
9,257		Energy East Corp		241,515
11,042		Entergy Corp		1,185,359
18,335		Exelon Corp		1,331,121
17,063		FirstEnergy Corp		1,104,488
22,752		FPL Group, Inc		1,290,948
4,405		Great Plains Energy, Inc		128,274
4,833	e	Hawaiian Electric Industries, Inc		114,494
4,446	e	Integrys Energy Group, Inc		225,546
10,607		KeySpan Corp		445,282
10,375		MDU Resources Group, Inc		290,915
4,510	*	Mirant Corp		192,352
5,001	e	National Fuel Gas Co		216,593
15,629		NiSource, Inc		323,677
8,662		Northeast Utilities		245,654
2,645	*	NRG Energy, Inc		109,953
6,642		NSTAR		215,533
5,514		OGE Energy Corp		202,088
6,360		Oneok, Inc		320,608
11,127		Pepco Holdings, Inc		313,781
19,678		PG&E Corp		891,413
5,864		Pinnacle West Capital Corp		233,680
5,489		PPL Corp		256,830
14,989		Progress Energy, Inc		683,349
14,199		Public Service Enterprise Group, Inc		1,246,388
6,766		Puget Energy, Inc		163,602
5,314		Questar Corp		280,845
19,835	*	Reliant Energy, Inc		534,553
1,372		Republic Services, Inc		42,038
6,811		SCANA Corp		260,793
15,118		Sempra Energy		895,439
12,309	*	Sierra Pacific Resources		216,146
42,088		Southern Co		1,443,198
6,241		Southern Union Co		203,394
11,723		TECO Energy, Inc		201,401
5,418		TXU Corp		364,631
5,671		UGI Corp		154,705
5,005	e	Vectren Corp		134,785
5,469		Williams Cos, Inc		172,930
6,837		Wisconsin Energy Corp		302,401
23,592		Xcel Energy, Inc		482,928
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		26,908,998
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.61%
6,577	*	ADC Telecommunications, Inc		120,556
18,337	e*	Advanced Micro Devices, Inc		262,219
29,107	*	Atmel Corp		161,835
3,794	*	Avnet, Inc		150,394
1,413		AVX Corp		23,654
6,947		Cooper Industries Ltd (Class A)		396,604

75

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,541	e*	Cree, Inc	$	91,535
7,234		Eaton Corp		672,762
827	e*	Energizer Holdings, Inc		82,369
3,767	*	Fairchild Semiconductor International, Inc		72,778
6,285		Honeywell International, Inc		353,720
7,105	*	Integrated Device Technology, Inc		108,493
2,387	*	International Rectifier Corp		88,940
3,501		Intersil Corp (Class A)		110,141
1,742	*	Jarden Corp		74,923
5,220	*	JDS Uniphase Corp		70,105
4,651		L-3 Communications Holdings, Inc		452,961
439		Lincoln Electric Holdings, Inc		32,591
17,561	*	LSI Logic Corp		131,883
28,529	*	Micron Technology, Inc		357,468
3,281		Molex, Inc		98,463
129,584		Motorola, Inc		2,293,637
3,435	*	Novellus Systems, Inc		97,451
2,258	e	RadioShack Corp		74,830
566	e*	Rambus, Inc		10,177
23,705	*	Sanmina-SCI Corp		74,197
2,226		Teleflex, Inc		182,042
25,770	*	Tellabs, Inc		277,285
7,707	*	Vishay Intertechnology, Inc		121,925
1,435		Whirlpool Corp		159,572
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		7,205,510
ENGINEERING AND MANAGEMENT SERVICES - 0.11%
1,989	*	Hewitt Associates, Inc (Class A)		63,648
9,445	*	KBR, Inc		247,742
450	*	Shaw Group, Inc		20,831
2,906	*	URS Corp		141,086
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		473,307
FABRICATED METAL PRODUCTS - 0.44%
259	*	Alliant Techsystems, Inc		25,680
7,302	e	Commercial Metals Co		246,589
3,097		Crane Co		140,759
7,050		Illinois Tool Works, Inc		382,040
6,452		Parker Hannifin Corp		631,715
5,586		Pentair, Inc		215,452
2,924		Snap-On, Inc		147,691
3,167		Stanley Works		192,237
		TOTAL FABRICATED METAL PRODUCTS		1,982,163
FOOD AND KINDRED PRODUCTS - 3.08%
16,006		Anheuser-Busch Cos, Inc		834,873
36,605		Archer Daniels Midland Co		1,211,259
6,722		Bunge Ltd		568,009
6,097		Campbell Soup Co		236,625
43,901		Coca-Cola Co		2,296,461
17,630		Coca-Cola Enterprises, Inc		423,120
27,887		ConAgra Foods, Inc		749,045
9,629	e*	Constellation Brands, Inc (Class A)		233,792
4,281		Corn Products International, Inc		194,571

76

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
11,654		Del Monte Foods Co	$	141,713
17,841		General Mills, Inc		1,042,271
8,384		H.J. Heinz Co		397,988
2,775		Hershey Co		140,471
4,639		Hormel Foods Corp		173,267
3,447		J.M. Smucker Co		219,436
3,881		Kellogg Co		200,997
89,797		Kraft Foods, Inc (Class A)		3,165,344
1,948		McCormick & Co, Inc		74,375
3,132		Molson Coors Brewing Co (Class B)		289,585
5,035	e	Pepsi Bottling Group, Inc		169,579
3,494		PepsiAmericas, Inc		85,813
21,276		Sara Lee Corp		370,202
5,598	*	Smithfield Foods, Inc		172,362
12,909		Tyson Foods, Inc (Class A)		297,423
1,506		Wrigley (Wm.) Jr Co		83,297
		TOTAL FOOD AND KINDRED PRODUCTS		13,771,878
FOOD STORES - 0.40%
14,475		Kroger Co		407,182
24,720		Safeway, Inc		841,222
11,723		Supervalu, Inc		543,009
		TOTAL FOOD STORES		1,791,413
FORESTRY - 0.26%
4,492		Rayonier, Inc		202,769
12,087		Weyerhaeuser Co		954,027
		TOTAL FORESTRY		1,156,796
FURNITURE AND FIXTURES - 0.27%
2,861		Hillenbrand Industries, Inc		185,965
2,288		Johnson Controls, Inc		264,882
9,366		Leggett & Platt, Inc		206,520
19,920		Masco Corp		567,122
		TOTAL FURNITURE AND FIXTURES		1,224,489
FURNITURE AND HOMEFURNISHINGS STORES - 0.08%
5,418	e	Circuit City Stores, Inc		81,703
2,740	e*	Mohawk Industries, Inc		276,165
797		Steelcase, Inc (Class A)		14,745
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		372,613
GENERAL BUILDING CONTRACTORS - 0.36%
6,386		Centex Corp		256,079
17,587		DR Horton, Inc		350,509
4,313		KB Home		169,803
7,592		Lennar Corp (Class A)		277,564
1,904	e	MDC Holdings, Inc		92,077
146	*	NVR, Inc		99,244
6,692		Pulte Homes, Inc		150,235
1,490	e	Ryland Group, Inc		55,681
7,049	e*	Toll Brothers, Inc		176,084
		TOTAL GENERAL BUILDING CONTRACTORS		1,627,276

77

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
GENERAL MERCHANDISE STORES - 0.78%
4,097	*	BJ's Wholesale Club, Inc	$	147,615
7,859		Costco Wholesale Corp		459,909
3,810	e	Dillard's, Inc (Class A)		136,893
24,932		Macy's, Inc		991,795
1,101		Saks, Inc		23,506
35,903		Wal-Mart Stores, Inc		1,727,293
		TOTAL GENERAL MERCHANDISE STORES		3,487,011
HEALTH SERVICES - 0.68%
5,794		AmerisourceBergen Corp		286,629
1,387		Brookdale Senior Living, Inc		63,206
4,897	e*	Community Health Systems, Inc		198,084
12,689		Health Management Associates, Inc (Class A)		144,147
2,622	*	LifePoint Hospitals, Inc		101,419
1,298		McKesson Corp		77,413
5,985		Omnicare, Inc		215,819
6,789	e*	Tenet Healthcare Corp		44,196
4,308	*	Triad Hospitals, Inc		231,598
2,213		Universal Health Services, Inc (Class B)		136,100
19,528	*	WellPoint, Inc		1,558,920
		TOTAL HEALTH SERVICES		3,057,531
HOLDING AND OTHER INVESTMENT OFFICES - 5.37%
8,800	e	Allied Capital Corp		272,448
5,832		AMB Property Corp		310,379
14,000		Annaly Mortgage Management, Inc		201,880
5,583		Apartment Investment & Management Co (Class A)		281,495
12,599		Archstone-Smith Trust		744,727
4,630		AvalonBay Communities, Inc		550,414
5,735		Boston Properties, Inc		585,716
5,500		Brandywine Realty Trust		157,190
2,971		BRE Properties, Inc (Class A)		176,151
3,129		Camden Property Trust		209,549
3,631		CBL & Associates Properties, Inc		130,898
2,949		Colonial Properties Trust		107,491
6,222		Developers Diversified Realty Corp		327,962
3,700	e	Douglas Emmett, Inc		91,538
2,066		Duke Realty Corp		73,694
16,277		Equity Residential		742,720
894	e	Essex Property Trust, Inc		103,972
1,705		Federal Realty Investment Trust		131,728
4,919		General Growth Properties, Inc		260,461
11,622		Health Care Property Investors, Inc		336,224
4,007		Health Care REIT, Inc		161,723
5,320		Hospitality Properties Trust		220,727
30,219		Host Marriott Corp		698,663
11,903		HRPT Properties Trust		123,791
139,917		iShares Russell 1000 Value Index Fund		12,136,401
7,389		iStar Financial, Inc		327,554
12,837		Kimco Realty Corp		488,705
5,282	e	Liberty Property Trust		232,038
4,044		Mack-Cali Realty Corp		175,874
9,121		Plum Creek Timber Co, Inc		379,981

78

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,797		Prologis	$	102,249
5,730		Public Storage, Inc		440,179
3,935		Regency Centers Corp		277,418
5,673		Simon Property Group, Inc		527,816
3,043		SL Green Realty Corp		376,997
1,548		Taubman Centers, Inc		76,796
4,829	*	TFS Financial Corp		55,727
6,387		Thornburg Mortgage, Inc		167,212
16,986		Virgin Media, Inc		413,949
7,617		Vornado Realty Trust		836,651
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		24,017,088
HOTELS AND OTHER LODGING PLACES - 0.10%
893	e	Station Casinos, Inc		77,512
9,929	*	Wyndham Worldwide Corp		360,026
		TOTAL HOTELS AND OTHER LODGING PLACES		437,538
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.92%
1,777	*	AGCO Corp		77,140
1,781		Black & Decker Corp		157,280
2,214		Carlisle Cos, Inc		102,973
12,038		Deere & Co		1,453,468
7,757		Dover Corp		396,771
418		Flowserve Corp		29,929
2,964	*	Gardner Denver, Inc		126,118
512,006	d	General Electric Co		19,599,590
15,842		Ingersoll-Rand Co Ltd (Class A)		868,458
16,922		International Business Machines Corp		1,781,041
3,815		Jabil Circuit, Inc		84,197
975		Kennametal, Inc		79,979
3,721		Lennox International, Inc		127,370
2,417	*	Lexmark International, Inc (Class A)		119,182
761		Pall Corp		34,998
5,188	*	SanDisk Corp		253,901
18,907		Seagate Technology, Inc		411,605
32,200	*	Solectron Corp		118,496
3,330		SPX Corp		292,407
4,540		Timken Co		163,939
8,729	*	Western Digital Corp		168,906
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		26,447,748
INSTRUMENTS AND RELATED PRODUCTS - 2.42%
8,217		Applera Corp (Applied Biosystems Group)		250,947
2,479	e	Bausch & Lomb, Inc		172,142
283		Beckman Coulter, Inc		18,304
74,555	*	Boston Scientific Corp		1,143,674
1,173	e	Cooper Cos, Inc		62,544
1,925		DRS Technologies, Inc		110,245
16,648	e	Eastman Kodak Co		463,314
7,243		Emerson Electric Co		338,972
101,345		Johnson & Johnson		6,244,879
3,826		PerkinElmer, Inc		99,706
2,234	e	Pitney Bowes, Inc		104,596
3,545		Tektronix, Inc		119,608

79

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,961	*	Teradyne, Inc	$	69,634
12,499	*	Thermo Electron Corp		646,448
52,473	*	Xerox Corp		969,701
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		10,814,714
INSURANCE AGENTS, BROKERS AND SERVICE - 0.86%
16,560		AON Corp		705,622
3,847	e	Gallagher (Arthur J.) & Co		107,254
17,908		Hartford Financial Services Group, Inc		1,764,117
31,315		Marsh & McLennan Cos, Inc		967,007
510		White Mountains Insurance Group Ltd		309,070
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		3,853,070
INSURANCE CARRIERS - 7.48%
17,239		ACE Ltd		1,077,782
5,920		Aetna, Inc		292,448
2,299		Aflac, Inc		118,169
344	*	Alleghany Corp		139,836
3,385		Allied World Assurance Holdings Ltd		173,481
34,066		Allstate Corp		2,095,400
5,520		Ambac Financial Group, Inc		481,289
4,877	e	American Financial Group, Inc		166,550
116,692		American International Group, Inc		8,171,941
644		American National Insurance Co		98,274
2,848	*	Arch Capital Group Ltd		206,594
7,352	e	Assurant, Inc		433,180
8,606		Axis Capital Holdings Ltd		349,834
22,514		Chubb Corp		1,218,908
9,236		Cincinnati Financial Corp		400,842
1,157	e	CNA Financial Corp		55,177
9,323	*	Conseco, Inc		194,757
3,287		Endurance Specialty Holdings Ltd		131,611
2,827		Erie Indemnity Co (Class A)		152,771
3,536		Everest Re Group Ltd		384,151
12,645		Fidelity National Title Group, Inc (Class A)		299,687
5,177		First American Corp		256,262
24,338		Genworth Financial, Inc (Class A)		837,227
2,017		Hanover Insurance Group, Inc		98,409
3,084		HCC Insurance Holdings, Inc		103,036
9,358	e	Leucadia National Corp		329,870
15,259		Lincoln National Corp		1,082,626
24,379		Loews Corp		1,242,841
497	*	Markel Corp		240,826
7,325		MBIA, Inc		455,762
1,689		Mercury General Corp		93,081
26,402		Metlife, Inc		1,702,401
4,930	e	MGIC Investment Corp		280,320
2,463	e	Nationwide Financial Services, Inc (Class A)		155,711
12,977		Old Republic International Corp		275,891
774		OneBeacon Insurance Group Ltd		19,605
2,329		PartnerRe Ltd		180,498
646	*	Philadelphia Consolidated Holding Co		27,003
4,773		PMI Group, Inc		213,210
14,327		Principal Financial Group		835,121

80

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
41,207		Progressive Corp	$	986,084
3,867		Protective Life Corp		184,881
19,765		Prudential Financial, Inc		1,921,751
4,784		Radian Group, Inc		258,336
1,578	e	Reinsurance Group Of America, Inc		95,059
4,046		RenaissanceRe Holdings Ltd		250,812
6,156		Safeco Corp		383,273
3,182		Stancorp Financial Group, Inc		166,991
5,348		Torchmark Corp		358,316
999	e	Transatlantic Holdings, Inc		71,059
37,320		Travelers Cos, Inc/The		1,996,620
2,766		Unitrin, Inc		136,032
19,926		UnumProvident Corp		520,268
6,976		W.R. Berkley Corp		226,999
126		Wesco Financial Corp		48,510
9,190		XL Capital Ltd (Class A)		774,625
		TOTAL INSURANCE CARRIERS		33,451,998
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.04%
5,038		Laidlaw International, Inc		174,063
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		174,063
LUMBER AND WOOD PRODUCTS - 0.03%
5,971		Louisiana-Pacific Corp		112,971
		TOTAL LUMBER AND WOOD PRODUCTS		112,971
METAL MINING - 0.19%
3,781		Freeport-McMoRan Copper & Gold, Inc (Class B)		313,142
13,810		Newmont Mining Corp		539,419
		TOTAL METAL MINING		852,561
MISCELLANEOUS MANUFACTURING INDUSTRIES - 1.11%
1,092	*	Armstrong World Industries, Inc		54,764
8,292		Fortune Brands, Inc		683,012
5,911		Hasbro, Inc		185,665
12,158		Mattel, Inc		307,476
110,912	*	Tyco International Ltd		3,747,716
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		4,978,633
MISCELLANEOUS RETAIL - 0.58%
2,476		Barnes & Noble, Inc		95,252
40,593		CVS Corp		1,479,615
2,371		OfficeMax, Inc		93,180
26,054	e*	Rite Aid Corp		166,225
4,516	*	Sears Holdings Corp		765,462
		TOTAL MISCELLANEOUS RETAIL		2,599,734
MOTION PICTURES - 1.36%
35,970		CBS Corp (Class B)		1,198,520
7,020	*	Discovery Holding Co (Class A)		161,390
682	*	DreamWorks Animation SKG, Inc (Class A)		19,669
43,318		News Corp (Class A)		918,775
180,492		Time Warner, Inc		3,797,552
		TOTAL MOTION PICTURES		6,095,906

81

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
NONDEPOSITORY INSTITUTIONS - 2.04%
8,706		American Capital Strategies Ltd	$	370,179
5,681	e*	AmeriCredit Corp		150,831
23,262		Capital One Financial Corp		1,824,671
1,477		CapitalSource, Inc		36,319
10,733		CIT Group, Inc		588,490
34,053		Countrywide Financial Corp		1,237,827
54,474		Fannie Mae		3,558,786
21,988		Freddie Mac		1,334,672
182		Student Loan Corp		37,110
		TOTAL NONDEPOSITORY INSTITUTIONS		9,138,885
OIL AND GAS EXTRACTION - 0.88%
25,969		Anadarko Petroleum Corp		1,350,128
10,961	e	Chesapeake Energy Corp		379,251
4,498	e	Cimarex Energy Co		177,266
609		ENSCO International, Inc		37,155
812	e	Equitable Resources, Inc		40,243
4,308	e*	Forest Oil Corp		182,056
1,033	*	Helix Energy Solutions Group, Inc		41,227
5,611		Helmerich & Payne, Inc		198,742
1,865	*	Nabors Industries Ltd		62,254
8,781		Patterson-UTI Energy, Inc		230,150
6,739		Pioneer Natural Resources Co		328,257
4,012	*	Plains Exploration & Production Co		191,814
3,560	e	Pogo Producing Co		180,812
2,215	*	Pride International, Inc		82,974
1,706		Rowan Cos, Inc		69,912
1,423	*	SEACOR Holdings, Inc		132,851
3,388		St. Mary Land & Exploration Co		124,069
1,325	e	Tidewater, Inc		93,916
482	*	Unit Corp		30,323
		TOTAL OIL AND GAS EXTRACTION		3,933,400
PAPER AND ALLIED PRODUCTS - 0.76%
5,766		Bemis Co		191,316
12,406	*	Domtar Corporation		138,451
24,386		International Paper Co		952,273
13,715		Kimberly-Clark Corp		917,396
10,117		MeadWestvaco Corp		357,332
14,858	*	Smurfit-Stone Container Corp		197,760
5,428		Sonoco Products Co		232,373
6,472		Temple-Inland, Inc		398,222
		TOTAL PAPER AND ALLIED PRODUCTS		3,385,123
PERSONAL SERVICES - 0.06%
1,697		Cintas Corp		66,913
17,548		Service Corp International		224,263
		TOTAL PERSONAL SERVICES		291,176
PETROLEUM AND COAL PRODUCTS - 11.44%
18,538		Apache Corp		1,512,515
3,417		Ashland, Inc		218,517

82

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
120,317		Chevron Corp	$	10,135,504
91,496		ConocoPhillips		7,182,436
24,912		Devon Energy Corp		1,950,360
13,638		EOG Resources, Inc		996,392
251,018		Exxon Mobil Corp		21,055,390
2,659		Frontier Oil Corp		116,384
15,928		Hess Corp		939,115
38,403		Marathon Oil Corp		2,302,644
10,931		Murphy Oil Corp		649,739
7,660	*	Newfield Exploration Co		348,913
8,203		Noble Energy, Inc		511,785
46,680		Occidental Petroleum Corp		2,701,838
6,485		Valero Energy Corp		478,982
594	e	Western Refining, Inc		34,333
		TOTAL PETROLEUM AND COAL PRODUCTS		51,134,847
PIPELINES, EXCEPT NATURAL GAS - 0.21%
36,224		Spectra Energy Corp		940,375
		TOTAL PIPELINES, EXCEPT NATURAL GAS		940,375
PRIMARY METAL INDUSTRIES - 0.85%
48,354		Alcoa, Inc		1,959,788
583		Carpenter Technology Corp		75,971
2,551	e	Hubbell, Inc (Class B)		138,315
13,091		Nucor Corp		767,787
3,523	e	Steel Dynamics, Inc		147,649
6,623		United States Steel Corp		720,251
		TOTAL PRIMARY METAL INDUSTRIES		3,809,761
PRINTING AND PUBLISHING - 0.60%
4,838		EW Scripps Co (Class A)		221,048
13,139		Gannett Co, Inc		721,988
8,581	e	Idearc, Inc		303,167
3,100	e	McClatchy Co (Class A)		78,461
6,970	e	New York Times Co (Class A)		177,038
3,782	*	R.H. Donnelley Corp		286,600
12,520		R.R. Donnelley & Sons Co		544,745
4,666		Tribune Co		137,180
303		Washington Post Co (Class B)		235,155
		TOTAL PRINTING AND PUBLISHING		2,705,382
RAILROAD TRANSPORTATION - 0.52%
1,135		Burlington Northern Santa Fe Corp		96,634
20,291		CSX Corp		914,718
1,763	e*	Kansas City Southern Industries, Inc		66,183
10,686		Norfolk Southern Corp		561,763
5,894		Union Pacific Corp		678,694
		TOTAL RAILROAD TRANSPORTATION		2,317,992
RUBBER AND MISCELLANEOUS PLASTIC PRODUCT - 0.10%
6,945		Newell Rubbermaid, Inc		204,391
7,789		Sealed Air Corp		241,615
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		446,006

83

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 3.58%
701		A.G. Edwards, Inc	$	59,270
12,827		Ameriprise Financial, Inc		815,412
6,787		Bear Stearns Cos, Inc		950,180
1,537		BlackRock, Inc		240,679
14,917	*	E*Trade Financial Corp		329,517
12,851		Goldman Sachs Group, Inc		2,785,454
2,515		Janus Capital Group, Inc		70,018
6,337		Jefferies Group, Inc		170,972
4,337		Legg Mason, Inc		426,674
29,818		Lehman Brothers Holdings, Inc		2,222,037
36,639		Merrill Lynch & Co, Inc		3,062,288
55,922		Morgan Stanley		4,690,737
1,266	*	Nasdaq Stock Market, Inc		37,613
4,868		Raymond James Financial, Inc		150,421
		TOTAL SECURITY AND COMMODITY BROKERS		16,011,272
STONE, CLAY, AND GLASS PRODUCTS - 0.15%
2,582		3M Co		224,092
6,048	e*	Owens Corning, Inc		203,394
4,484	e*	USG Corp		219,895
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		647,381
TOBACCO PRODUCTS - 1.03%
50,510		Altria Group, Inc		3,542,771
2,470		Loews Corp (Carolina Group)		190,857
10,125	e	Reynolds American, Inc		660,150
4,327	e	UST, Inc		232,403
		TOTAL TOBACCO PRODUCTS		4,626,181
TRANSPORTATION BY AIR - 0.26%
2,773		FedEx Corp		307,720
4,846	*	Northwest Airlines Corp		107,581
33,826	e	Southwest Airlines Co		504,346
2,633	e*	UAL Corp		106,873
4,527	*	US Airways Group, Inc		137,032
		TOTAL TRANSPORTATION BY AIR		1,163,552
TRANSPORTATION EQUIPMENT - 1.93%
1,817		Autoliv, Inc		103,333
4,532		Brunswick Corp		147,879
105,069	e*	Ford Motor Co		989,750
19,514		General Dynamics Corp		1,526,385
27,563	e	General Motors Corp		1,041,881
9,536		Genuine Parts Co		472,986
8,404		ITT Industries, Inc		573,825
18,561		Northrop Grumman Corp		1,445,345
12,022		Raytheon Co		647,866
1,700	*	Spirit Aerosystems Holdings, Inc (Class A)		61,285
340	e	Trinity Industries, Inc		14,804
3,147	*	TRW Automotive Holdings Corp		115,904

84

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
21,084		United Technologies Corp	$	1,495,488
		TOTAL TRANSPORTATION EQUIPMENT		8,636,731
TRANSPORTATION SERVICES - 0.02%
1,668	e	GATX Corp		82,149
		TOTAL TRANSPORTATION SERVICES		82,149
TRUCKING AND WAREHOUSING - 0.03%
3,634	e*	YRC Worldwide, Inc		133,731
		TOTAL TRUCKING AND WAREHOUSING		133,731
WATER TRANSPORTATION - 0.32%
2,599		Alexander & Baldwin, Inc		138,033
14,271		Carnival Corp		695,997
1,930		Overseas Shipholding Group, Inc		157,102
7,453		Royal Caribbean Cruises Ltd		320,330
2,255		Teekay Corp		130,587
		TOTAL WATER TRANSPORTATION		1,442,049
WHOLESALE TRADE-DURABLE GOODS - 0.21%
3,571	*	Arrow Electronics, Inc		137,234
2,571		BorgWarner, Inc		221,209
7,933	*	Ingram Micro, Inc (Class A)		172,225
3,853		Reliance Steel & Aluminum Co		216,764
3,110	*	Tech Data Corp		119,611
1,001		W.W. Grainger, Inc		93,143
		TOTAL WHOLESALE TRADE-DURABLE GOODS		960,186
WHOLESALE TRADE-NONDURABLE GOODS - 0.08%
196		Airgas, Inc		9,388
1,187	e	Brown-Forman Corp (Class B)		86,746
7,653		Dean Foods Co		243,901
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		340,035
		TOTAL COMMON STOCKS		443,996,947
		(Cost $394,234,573)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 3.40%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.66%
$ 2,950,000	d	Federal Home Loan Bank 4.800%, 07/02/07		2,950,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		2,950,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.74%
12,259,139		State Street Navigator Securities Lending Prime Portfolio		12,259,139
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		12,259,139
		TOTAL SHORT-TERM INVESTMENTS		15,209,139
		(Cost $15,208,745)

85

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
				VALUE
		TOTAL PORTFOLIO - 102.71%	$	459,206,086
		(Cost $409,443,318)
		OTHER ASSETS & LIABILITIES, NET - (2.71)%		(12,116,046	)
		NET ASSETS - 100.00%	$	447,090,040
	*	Non-income producing.
	**	Percentage represents less than 0.01%.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other
		requirements on open futures contracts in the amount of $3,151,704.
	e	All or a portion of these securities are out on loan.

86

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.42%
AGRICULTURAL PRODUCTION-CROPS - 0.00%**
2,765	e	Chiquita Brands International, Inc	$	52,424
		TOTAL AGRICULTURAL PRODUCTION-CROPS		52,424
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.01%
2,719	e	Pilgrim's Pride Corp		103,784
25	e	Seaboard Corp		58,625
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		162,409
AGRICULTURAL SERVICES - 0.00%**
864	e*	Cadiz, Inc		19,414
		TOTAL AGRICULTURAL SERVICES		19,414
AMUSEMENT AND RECREATION SERVICES - 0.57%
20,078	*	Activision, Inc		374,856
4,307	e*	Bally Technologies, Inc		113,791
689		Churchill Downs, Inc		36,090
736		Dover Downs Gaming & Entertainment, Inc		11,047
13,574		Harrah's Entertainment, Inc		1,157,319
3,080	e	International Speedway Corp (Class A)		162,347
1,550	e*	Lakes Entertainment, Inc		18,306
2,221	e*	Leapfrog Enterprises, Inc		22,765
2,381	e*	Life Time Fitness, Inc		126,741
4,383	*	Live Nation, Inc		98,092
2,758	*	Magna Entertainment Corp		8,053
3,600	e*	Marvel Entertainment, Inc		91,728
1,925	e*	MTR Gaming Group, Inc		29,645
2,299	e*	Multimedia Games, Inc		29,335
5,447	*	Penn National Gaming, Inc		327,310
4,610	*	Pinnacle Entertainment, Inc		129,772
5,973	e*	Six Flags, Inc		36,376
1,544	e	Speedway Motorsports, Inc		61,729
1,184	*	Town Sports International Holdings, Inc		22,875
144,067		Walt Disney Co		4,918,447
3,298	e	Warner Music Group Corp		47,656
4,672	e*	Westwood One, Inc		33,592
2,932	e*	WMS Industries, Inc		84,618
1,665	e	World Wrestling Entertainment, Inc		26,623
		TOTAL AMUSEMENT AND RECREATION SERVICES		7,969,113
APPAREL AND ACCESSORY STORES - 0.66%
6,380		Abercrombie & Fitch Co (Class A)		465,612
3,885	*	Aeropostale, Inc		161,927
12,932		American Eagle Outfitters, Inc		331,835
5,041	*	AnnTaylor Stores Corp		178,552

87

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,948	e	Bebe Stores, Inc	$	31,187
2,831		Brown Shoe Co, Inc		68,850
840	e	Buckle, Inc		33,096
793	e*	Cache, Inc		10,523
4,241	e*	Carter's, Inc		110,012
2,133	e*	Casual Male Retail Group, Inc		21,543
2,314		Cato Corp (Class A)		50,769
2,203	*	Charlotte Russe Holding, Inc		59,195
8,725	*	Charming Shoppes, Inc		94,492
12,867	e*	Chico's FAS, Inc		313,183
1,597	*	Children's Place Retail Stores, Inc		82,469
2,342	e	Christopher & Banks Corp		40,165
994	e*	Citi Trends, Inc		37,732
233		DEB Shops, Inc		6,442
4,020	e*	Dress Barn, Inc		82,490
1,121	e*	DSW, Inc (Class A)		39,033
2,240	e*	Eddie Bauer Holdings, Inc		28,784
2,682		Finish Line, Inc (Class A)		24,433
11,482	e	Foot Locker, Inc		250,308
42,455		Gap, Inc		810,891
7,460	*	Hanesbrands, Inc		201,644
3,079	*	HOT Topic, Inc		33,469
2,710	e*	J Crew Group, Inc		146,584
1,794	e*	Jo-Ann Stores, Inc		51,003
1,448	e*	JOS A Bank Clothiers, Inc		60,049
23,340	*	Kohl's Corp		1,657,840
25,776		Limited Brands, Inc		707,551
3,344	*	New York & Co, Inc		36,650
18,398		Nordstrom, Inc		940,506
5,259	e*	Pacific Sunwear Of California, Inc		115,698
4,864	*	Payless Shoesource, Inc		153,459
10,114		Ross Stores, Inc		311,511
407	*	Shoe Carnival, Inc		11,188
3,326	e	Stage Stores, Inc		69,713
312	e*	Syms Corp		6,156
1,535	e	Talbots, Inc		38,421
2,198	e*	Tween Brands, Inc		98,031
2,066	e*	Under Armour, Inc (Class A)		94,313
8,694	*	Urban Outfitters, Inc		208,917
4,348	e*	Wet Seal, Inc (Class A)		26,131
		TOTAL APPAREL AND ACCESSORY STORES		8,302,357
APPAREL AND OTHER TEXTILE PRODUCTS - 0.20%
1,043	e	Columbia Sportswear Co		71,633
963	e*	G-III Apparel Group Ltd		15,206
3,935	e	Guess ?, Inc		189,037
2,631	*	Gymboree Corp		103,688
8,003		Jones Apparel Group, Inc		226,085
1,667	e	Kellwood Co		46,876
7,614	e	Liz Claiborne, Inc		284,002
1,310	*	Maidenform Brands, Inc		26,017
4,060		Phillips-Van Heusen Corp		245,914
4,305	e	Polo Ralph Lauren Corp		422,364
8,850	e*	Quiksilver, Inc		125,051

88

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
874	e*	True Religion Apparel, Inc	$	17,768
6,592		VF Corp		603,695
3,472	*	Warnaco Group, Inc		136,588
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		2,513,924
AUTO REPAIR, SERVICES AND PARKING - 0.10%
741	e*	Amerco, Inc		55,946
1,721	*	Dollar Thrifty Automotive Group, Inc		70,286
4,420	*	Exide Technologies		41,106
22,834	e*	Hertz Global Holdings, Inc		606,699
1,441	*	Midas, Inc		32,667
681		Monro Muffler, Inc		25,503
4,455		Ryder System, Inc		239,679
216	*	Standard Parking Corp		7,588
3,275	e*	Wright Express Corp		112,234
		TOTAL AUTO REPAIR, SERVICES AND PARKING		1,191,708
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.18%
7,687		Advance Auto Parts		311,554
1,878		Asbury Automotive Group, Inc		46,856
11,455	e*	Autonation, Inc		257,050
3,368	*	Autozone, Inc		460,136
15,740	e*	Carmax, Inc		401,370
5,063	*	Copart, Inc		154,877
3,416	e*	CSK Auto Corp		62,854
1,014	e	Lithia Motors, Inc (Class A)		25,695
810	e*	MarineMax, Inc		16,216
8,294	e*	O'Reilly Automotive, Inc		303,146
1,353	*	Rush Enterprises, Inc (Class A)		29,387
2,558	e	Sonic Automotive, Inc (Class A)		74,105
3,796		United Auto Group Inc		80,817
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		2,224,063
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.76%
1,177	e*	Builders FirstSource, Inc		18,903
4,698	e*	Central Garden and Pet Co (Class A)		55,108
9,356	e	Fastenal Co		391,642
143,168		Home Depot, Inc		5,633,661
109,450		Lowe's Cos, Inc		3,359,021
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		9,458,335
BUSINESS SERVICES - 6.89%
3,239	*	24/7 Real Media, Inc		37,993
26,226	*	3Com Corp		108,313
733	e*	3D Systems Corp		18,230
3,785	e	Aaron Rents, Inc		110,522
3,028		ABM Industries, Inc		78,153
1,888	e*	Acacia Research (Acacia Technologies)		30,510
43,138		Accenture Ltd (Class A)		1,850,189
3,842	*	Actuate Corp		26,087
5,011		Acxiom Corp		132,541
1,422		Administaff, Inc		47,623
42,758	*	Adobe Systems, Inc		1,716,734
1,354	e*	Advent Software, Inc		44,073

89

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,729	*	Affiliated Computer Services, Inc (Class A)	$	381,669
3,199	e*	Agile Software Corp		25,784
1,787	e	Aircastle Ltd		71,140
11,906	e*	Akamai Technologies, Inc		579,108
5,716	*	Alliance Data Systems Corp		441,732
14,364	*	Amdocs Ltd		571,974
1,752	e*	American Reprographics Co		53,944
2,155	*	AMN Healthcare Services, Inc		47,410
1,886	*	Ansoft Corp		55,618
5,613	*	Ansys, Inc		148,745
5,137	*	aQuantive, Inc		327,741
2,421	e	Arbitron, Inc		124,754
4,539	e*	Ariba, Inc		44,981
7,511	e*	Art Technology Group, Inc		19,979
5,821	*	Aspen Technology, Inc		81,494
1,465		Asset Acceptance Capital Corp		25,931
16,775	*	Autodesk, Inc		789,767
40,413		Automatic Data Processing, Inc		1,958,818
7,403	*	Avis Budget Group, Inc		210,467
4,037	e*	Avocent Corp		117,142
659	e*	Bankrate, Inc		31,579
281	e	Barrett Business Services		7,258
28,510	*	BEA Systems, Inc		390,302
14,716	e*	BearingPoint, Inc		107,574
8,180	*	BISYS Group, Inc		96,769
2,964		Blackbaud, Inc		65,445
2,280	e*	Blackboard, Inc		96,034
740	e*	Blue Coat Systems, Inc		36,645
14,596	*	BMC Software, Inc		442,259
5,914	e*	Borland Software Corp		35,129
761	*	Bottomline Technologies, Inc		9,398
3,233	e*	BPZ Energy, Inc		18,040
3,647	e	Brady Corp (Class A)		135,450
3,167		Brink's Co		196,006
29,939		CA, Inc		773,324
2,083	e*	CACI International, Inc (Class A)		101,755
20,679	*	Cadence Design Systems, Inc		454,111
794	e*	Capella Education Co		36,548
3,342	e	Catalina Marketing Corp		105,273
4,380	e*	CBIZ, Inc		32,193
10,719	*	Ceridian Corp		375,165
4,790	e*	Cerner Corp		265,701
6,125	e*	Checkfree Corp		246,225
5,869	e*	ChoicePoint, Inc		249,139
2,094	*	Chordiant Software, Inc		32,792
3,178	e*	Ciber, Inc		25,996
13,464	*	Citrix Systems, Inc		453,333
3,570	e*	Clear Channel Outdoor Holdings, Inc (Class A)		101,174
42,786	e*	CMGI, Inc		83,433
9,613	e*	CNET Networks, Inc		78,739
3,630	*	Cogent Communications Group, Inc		108,428
3,986	e*	Cogent, Inc		58,554
2,865	e	Cognex Corp		64,491
10,364	*	Cognizant Technology Solutions Corp (Class A)		778,233

90

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,566	e*	Commvault Systems, Inc	$	44,315
1,662	e	Computer Programs & Systems, Inc		51,489
12,586	*	Computer Sciences Corp		744,462
22,836	e*	Compuware Corp		270,835
847	*	COMSYS IT Partners, Inc		19,320
2,722	e*	Concur Technologies, Inc		62,198
10,212	*	Convergys Corp		247,539
1,168	e*	CoStar Group, Inc		61,764
2,389	e*	Covansys Corp		81,059
3,313	*	CSG Systems International, Inc		87,828
2,258	*	Cybersource Corp		27,231
2,440	e*	DealerTrack Holdings, Inc		89,890
3,766		Deluxe Corp		152,937
2,984	e*	Digital River, Inc		135,026
1,040	e*	DivX, Inc		15,600
3,920	e*	DST Systems, Inc		310,503
1,700	e*	DynCorp International, Inc (Class A)		37,383
9,237	*	Earthlink, Inc		69,008
83,546	*	eBay, Inc		2,688,510
1,924	e*	Echelon Corp		30,072
2,788	e*	Eclipsys Corp		55,202
1,083	*	eCollege.com, Inc		24,097
3,450	e*	eFunds Corp		121,785
1,211	e	Electro Rent Corp		17,608
22,638	*	Electronic Arts, Inc		1,071,230
36,973		Electronic Data Systems Corp		1,025,261
4,217	*	Epicor Software Corp		62,707
1,374	e*	EPIQ Systems, Inc		22,204
10,380		Equifax, Inc		461,080
2,294	e*	Equinix, Inc		209,832
1,940	e*	eSpeed, Inc (Class A)		16,762
7,422	e*	Evergreen Energy, Inc		44,755
1,660	e*	ExlService Holdings, Inc		31,108
15,085	*	Expedia, Inc		441,840
3,017	*	F5 Networks, Inc		243,170
3,326		Factset Research Systems, Inc		227,332
4,520	e	Fair Isaac Corp		181,342
1,951	*	FalconStor Software, Inc		20,583
14,001		Fidelity National Information Services, Inc		759,974
54,846		First Data Corp		1,791,819
12,235	*	Fiserv, Inc		694,948
1,148	*	Forrester Research, Inc		32,293
1,910		FTD Group, Inc		35,163
5,026	*	Gartner, Inc		123,589
1,509	*	Gerber Scientific, Inc		17,535
3,732	*	Getty Images, Inc		178,427
1,781	e	Gevity HR, Inc		34,427
3,223	*	Global Cash Access, Inc		51,632
1,146	e*	Global Sources Ltd		26,014
16,669	*	Google, Inc (Class A)		8,724,221
1,315	e*	H&E Equipment Services, Inc		36,478
1,651	e	Healthcare Services Group		48,705
1,245	e	Heartland Payment Systems, Inc		36,516
1,765	*	Heidrick & Struggles International, Inc		90,439

91

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
12,545	*	HLTH Corp	$	175,755
1,511	*	HMS Holdings Corp		28,921
2,798	*	Hudson Highland Group, Inc		59,849
3,858	e*	Hypercom Corp		22,801
989	e*	i2 Technologies, Inc		18,435
289	e*	ICT Group, Inc		5,407
1,316	e*	iGate Corp		10,554
2,299	*	IHS, Inc (Class A)		105,754
916	e	Imergent, Inc		22,405
14,257		IMS Health, Inc		458,077
1,208	e*	Infocrossing, Inc		22,312
6,087	*	Informatica Corp		89,905
2,104		Infospace, Inc		48,834
2,444		infoUSA, Inc		24,978
1,719	e*	Innerworkings, Inc		27,538
605	e*	Innovative Solutions & Support, Inc		14,048
1,073	e	Integral Systems, Inc		26,085
2,248		Interactive Data Corp		60,201
955	*	Interactive Intelligence, Inc		19,673
3,444	e*	Internap Network Services Corp		49,662
2,383	e*	Internet Capital Group, Inc		29,549
1,400	e	Interpool, Inc		37,660
33,888	e*	Interpublic Group of Cos, Inc		386,323
2,861	*	Interwoven, Inc		40,168
24,846	*	Intuit, Inc		747,368
1,969	*	inVentiv Health, Inc		72,085
3,293	e*	Ipass, Inc		17,848
13,044	e*	Iron Mountain, Inc		340,840
6,226		Jack Henry & Associates, Inc		160,320
2,086	*	JDA Software Group, Inc		40,948
41,229	*	Juniper Networks, Inc		1,037,734
1,857		Kelly Services, Inc (Class A)		50,993
1,834	e*	Kenexa Corp		69,160
1,118	*	Keynote Systems, Inc		18,335
2,364	*	Kforce, Inc		37,777
3,852	e*	Kinetic Concepts, Inc		200,188
1,958	e*	Knot, Inc		39,532
3,407	*	Korn/Ferry International		89,468
3,536	*	Labor Ready, Inc		81,717
6,111		Lamar Advertising Co (Class A)		383,526
8,318	e*	Lawson Software, Inc		82,265
3,580	*	Lionbridge Technologies		21,086
1,100	e*	Liquidity Services, Inc		20,658
2,668	e*	LivePerson, Inc		14,274
1,043	*	LoJack Corp		23,248
2,806	e*	Magma Design Automation, Inc		39,396
2,138	*	Manhattan Associates, Inc		59,672
6,149		Manpower, Inc		567,184
1,255	*	Mantech International Corp (Class A)		38,692
1,255	e	Marchex, Inc (Class B)		20,482
5,765	e	Mastercard, Inc (Class A)		956,241
11,772	*	McAfee, Inc		414,374
6,972	*	Mentor Graphics Corp		91,821
596,714		Microsoft Corp		17,585,189

92

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
736	*	MicroStrategy, Inc (Class A)	$	69,545
3,645	e*	Midway Games, Inc		23,182
6,534		MoneyGram International, Inc		182,625
8,906	*	Monster Worldwide, Inc		366,037
7,225	*	Move, Inc		32,368
8,526	*	MPS Group, Inc		113,993
3,168	e*	MSC.Software Corp		42,895
6,964	e*	NAVTEQ Corp		294,856
13,079	*	NCR Corp		687,171
2,508	e*	Ness Technologies, Inc		32,629
3,597	e*	NetFlix, Inc		69,746
1,911	*	Network Equipment Technologies, Inc		18,231
2,904	e	NIC, Inc		19,863
25,220	*	Novell, Inc		196,472
9,918	e*	Nuance Communications, Inc		165,928
24,044		Omnicom Group, Inc		1,272,408
1,750	e*	Omniture, Inc		40,110
1,748	*	On Assignment, Inc		18,739
1,355	e*	Online Resources Corp		14,878
6,788	e*	OpenTV Corp (Class A)		14,391
6,146	e*	Opsware, Inc		58,448
280,259	*	Oracle Corp		5,523,905
2,839	e*	Packeteer, Inc		22,173
7,938	e*	Parametric Technology Corp		171,540
891	e*	PDF Solutions, Inc		10,541
613	e	Pegasystems, Inc		6,700
1,250	e*	PeopleSupport, Inc		14,188
2,126	e*	Perficient, Inc		44,008
7,252	*	Perot Systems Corp (Class A)		123,574
2,198	*	Phase Forward, Inc		36,992
1,446	e	Portfolio Recovery Associates, Inc		86,789
1,028	e*	PRA International		26,008
4,486	*	Premiere Global Services, Inc		58,408
2,801	*	Progress Software Corp		89,044
1,388	e	QAD, Inc		11,520
1,041	e	Quality Systems, Inc		39,527
4,495	*	Quest Software, Inc		72,774
1,378	*	Radiant Systems, Inc		18,245
1,137	e*	Radisys Corp		14,099
1,800	e*	Raser Technologies, Inc		13,302
8,011	e*	RealNetworks, Inc		65,450
13,594	e*	Red Hat, Inc		302,874
612	e	Renaissance Learning, Inc		8,048
5,338	*	Rent-A-Center, Inc		140,016
840	e*	RightNow Technologies, Inc		13,784
10,841		Robert Half International, Inc		395,697
2,945		Rollins, Inc		67,058
5,134	*	S1 Corp		41,021
6,893	*	Salesforce.com, Inc		295,434
5,380	*	Sapient Corp		41,587
5,132	e*	Secure Computing Corp		38,952
20,256		ServiceMaster Co		313,158
850	e*	SI International, Inc		28,067
487	e*	Silicon Graphics, Inc		12,925

93

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,460	e*	Smith Micro Software, Inc	$	37,048
1,613	e*	Sohu.com, Inc		51,600
4,133	*	SonicWALL, Inc		35,502
19,704	e*	Sonus Networks, Inc		167,878
4,868		Sotheby's		224,025
4,940	*	Spherion Corp		46,387
1,267	e*	SPSS, Inc		55,925
2,596	e*	SRA International, Inc (Class A)		65,575
591	e*	Stratasys, Inc		27,765
259,668	*	Sun Microsystems, Inc		1,365,854
7,019	*	Sybase, Inc		167,684
1,944	*	SYKES Enterprises, Inc		36,917
65,492	*	Symantec Corp		1,322,938
1,346	e*	Synchronoss Technologies, Inc		39,492
677	e*	SYNNEX Corp		13,953
10,518	*	Synopsys, Inc		277,991
932	e	Syntel, Inc		28,323
6,176	e*	Take-Two Interactive Software, Inc		123,335
1,294	e	TAL International Group, Inc		38,445
1,175	*	Taleo Corp (Class A)		26,473
2,745	*	TeleTech Holdings, Inc		89,158
1,213	e	TheStreet.com, Inc		13,197
5,002	*	THQ, Inc		152,661
16,150	*	TIBCO Software, Inc		146,158
1,603	e	TNS, Inc		23,099
2,944	e	Total System Services, Inc		86,877
1,236	e*	TradeStation Group, Inc		14,399
2,535	e*	Transaction Systems Architects, Inc		85,328
247	e*	Travelzoo, Inc		6,568
2,760	*	Trizetto Group, Inc		53,434
1,793	e*	Ultimate Software Group, Inc		51,871
26,675	*	Unisys Corp		243,810
5,489	e	United Online, Inc		90,514
5,737	e*	United Rentals, Inc		186,682
2,297	*	Universal Compression Holdings, Inc		166,464
6,896	*	Valueclick, Inc		203,156
2,516	e*	Vasco Data Security International		57,264
17,674	*	VeriSign, Inc		560,796
536	*	Vertrue, Inc		26,146
1,605		Viad Corp		67,683
1,973	*	Vignette Corp		37,803
1,114	*	Visual Sciences, Inc		17,234
941	*	Vocus, Inc		23,629
667	e*	Volt Information Sciences, Inc		12,299
37,600		Waste Management, Inc		1,468,280
302	*	WebMD Health Corp (Class A)		14,215
2,968	e*	Websense, Inc		63,070
4,710	*	Wind River Systems, Inc		51,810
88,396	*	Yahoo!, Inc		2,398,183
		TOTAL BUSINESS SERVICES		86,112,844
CHEMICALS AND ALLIED PRODUCTS - 8.71%
111,975		Abbott Laboratories		5,996,261
1,899	e*	Abraxis BioScience, Inc		42,215

94

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,835	e*	Acadia Pharmaceuticals, Inc	$	25,084
1,544	e*	Acorda Therapeutics, Inc		26,341
2,020	e*	Adams Respiratory Therapeutics, Inc		79,568
1,038	e*	Advanced Magnetics, Inc		60,370
15,741		Air Products & Chemicals, Inc		1,265,104
1,838	*	Albany Molecular Research, Inc		27,294
5,490	e	Albemarle Corp		211,530
6,092		Alberto-Culver Co		144,502
2,641	e*	Alexion Pharmaceuticals, Inc		119,003
1,440	*	Alexza Pharmaceuticals, Inc		11,909
7,300	*	Alkermes, Inc		106,580
3,109	*	Allos Therapeutics, Inc		13,742
2,132	e*	Alnylam Pharmaceuticals, Inc		32,385
3,044	e*	Alpharma, Inc (Class A)		79,174
2,965	e*	American Oriental Bioengineering, Inc		26,389
854	e	American Vanguard Corp		12,229
84,482	*	Amgen, Inc		4,671,010
1,538		Arch Chemicals, Inc		54,045
4,430	e*	Arena Pharmaceuticals, Inc		48,686
2,419	e*	Arqule, Inc		17,054
3,457	e*	Array Biopharma, Inc		40,343
2,520	*	Arrowhead Research Corp		12,676
2,059	e*	Auxilium Pharmaceuticals, Inc		32,820
2,040	e*	Aventine Renewable Energy Holdings, Inc		34,619
7,433	e	Avery Dennison Corp		494,146
31,891		Avon Products, Inc		1,171,994
1,121	e	Balchem Corp		20,369
7,819	*	Barr Pharmaceuticals, Inc		392,748
1,222	e*	Bentley Pharmaceuticals, Inc		14,835
3,682	*	Bioenvision, Inc		21,282
24,926	*	Biogen Idec, Inc		1,333,541
6,446	e*	BioMarin Pharmaceuticals, Inc		115,641
780	*	BioMimetic Therapeutics, Inc		12,191
3,228	*	Bionovo, Inc		12,460
580	e*	Bradley Pharmaceuticals, Inc		12,592
143,057		Bristol-Myers Squibb Co		4,514,879
4,464		Cabot Corp		212,844
1,206	e*	Cadence Pharmaceuticals, Inc		14,629
2,232	e*	Calgon Carbon Corp		25,891
1,937		Cambrex Corp		25,704
1,195	e*	Caraco Pharmaceutical Laboratories Ltd		18,140
9,439		Celanese Corp (Series A)		366,044
7,425	e*	Cell Genesys, Inc		24,874
4,889	e*	Cephalon, Inc		393,027
4,083		CF Industries Holdings, Inc		244,531
5,046	e*	Charles River Laboratories International, Inc		260,475
1,058	e*	Chattem, Inc		67,056
17,490		Chemtura Corp		194,314
4,883	e	Church & Dwight Co, Inc		236,630
11,024		Clorox Co		684,590
37,186		Colgate-Palmolive Co		2,411,512
3,870	e*	Cubist Pharmaceuticals, Inc		76,278
1,464	e*	Cypress Bioscience, Inc		19,413
3,035		Cytec Industries, Inc		193,542

95

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,097	e*	Cytokinetics, Inc	$	6,198
6,419	*	CytRx Corp		20,027
6,118		Dade Behring Holdings, Inc		324,988
6,977	e*	Dendreon Corp		49,397
1,565	*	Digene Corp		93,978
6,054	e*	Discovery Laboratories, Inc		17,133
69,301		Dow Chemical Co		3,064,534
67,136		Du Pont (E.I.) de Nemours & Co		3,413,194
2,561	e*	Durect Corp		9,860
6,117		Eastman Chemical Co		393,507
12,701		Ecolab, Inc		542,333
72,380		Eli Lilly & Co		4,044,594
1,375	*	Elizabeth Arden, Inc		33,358
12,051	e*	Encysive Pharmaceuticals, Inc		21,451
2,740	e*	Enzon Pharmaceuticals, Inc		21,509
7,936		Estee Lauder Cos (Class A)		361,167
3,162		Ferro Corp		78,829
2,778		FMC Corp		248,325
23,272	*	Forest Laboratories, Inc		1,062,367
34,242	*	Genentech, Inc		2,590,750
4,893	e*	GenVec, Inc		11,499
19,373	*	Genzyme Corp		1,247,626
2,729	e	Georgia Gulf Corp		49,422
6,239	e*	Geron Corp		43,923
68,376	*	Gilead Sciences, Inc		2,650,938
1,380	e*	GTx, Inc		22,342
4,534		H.B. Fuller Co		135,521
4,685	e*	Halozyme Therapeutics, Inc		43,243
8,159	*	Hercules, Inc		160,324
11,574	*	Hospira, Inc		451,849
9,109	e*	Human Genome Sciences, Inc		81,252
5,917		Huntsman Corp		143,842
1,955	e*	Idenix Pharmaceuticals, Inc		11,535
2,447	*	Idexx Laboratories, Inc		231,560
4,456	*	ImClone Systems, Inc		157,564
5,204	*	Immucor, Inc		145,556
3,142	e*	Indevus Pharmaceuticals, Inc		21,146
1,522	e	Innophos Holdings, Inc		21,765
727		Innospec, Inc		43,046
418	e	Inter Parfums, Inc		11,127
2,057	e*	InterMune, Inc		53,359
6,500		International Flavors & Fragrances, Inc		338,910
3,375	e*	Inverness Medical Innovations, Inc		172,193
3,581	*	Invitrogen Corp		264,172
3,008	e*	Javelin Pharmaceuticals, Inc		18,620
1,096	e	Kaiser Aluminum Corp		79,876
2,764	*	Keryx Biopharmaceuticals, Inc		27,004
17,885	*	King Pharmaceuticals, Inc		365,947
1,279	e	Koppers Holdings, Inc		43,077
227	e	Kronos Worldwide, Inc		5,732
2,762	e*	KV Pharmaceutical Co (Class A)		75,237
1,531	*	Landec Corp		20,515
6,598	e	Ligand Pharmaceuticals, Inc (Class B)		45,394
4,996		Lubrizol Corp		322,492

96

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
16,344		Lyondell Chemical Co	$	606,689
930	e	Mannatech, Inc		14,778
3,013	e*	MannKind Corp		37,150
1,963	e*	Martek Biosciences Corp		50,979
8,290	e*	Medarex, Inc		118,464
3,197	e*	Medicines Co		56,331
4,145	e	Medicis Pharmaceutical Corp (Class A)		126,588
1,542	*	Medivation, Inc		31,503
157,662		Merck & Co, Inc		7,851,568
2,876	e	Meridian Bioscience, Inc		62,294
5,240	e*	MGI Pharma, Inc		117,219
23,715	*	Millennium Pharmaceuticals, Inc		250,668
1,545	e	Minerals Technologies, Inc		103,438
3,507	e*	Minrad International, Inc		20,797
1,900	e*	Momenta Pharmaceuticals, Inc		19,152
39,556		Monsanto Co		2,671,612
11,122	*	Mosaic Co		433,980
17,409	e*	Mylan Laboratories, Inc		316,670
3,926	e*	Nabi Biopharmaceuticals		18,060
10,281		Nalco Holding Co		282,213
1,756	e*	Nastech Pharmaceutical Co, Inc		19,158
4,011	*	NBTY, Inc		173,275
2,863	e*	Neurocrine Biosciences, Inc		32,151
1,171		NewMarket Corp		56,641
465		NL Industries, Inc		4,659
1,927	e*	Noven Pharmaceuticals, Inc		45,188
5,334		Olin Corp		112,014
2,185	*	OM Group, Inc		115,630
1,002	e*	Omrix Biopharmaceuticals, Inc		31,523
3,019	e*	Onyx Pharmaceuticals, Inc		81,211
2,833	e*	OraSure Technologies, Inc		23,174
3,864	e*	OSI Pharmaceuticals, Inc		139,915
2,256	e*	Pacific Ethanol, Inc		29,779
2,404	e*	Pain Therapeutics, Inc		20,939
2,342	*	Par Pharmaceutical Cos, Inc		66,115
1,847	*	Parexel International Corp		77,685
8,778	e*	PDL BioPharma, Inc		204,527
1,388	e*	Penwest Pharmaceuticals Co		17,308
5,208		Perrigo Co		101,973
1,235	e*	PetMed Express, Inc		15,857
510,185		Pfizer, Inc		13,045,430
1,496	e*	Pharmion Corp		43,309
719	e*	Pioneer Cos, Inc		24,712
5,644	*	PolyOne Corp		40,580
3,470	*	Pozen, Inc		62,703
11,931		PPG Industries, Inc		908,068
23,164		Praxair, Inc		1,667,576
1,691	*	Prestige Brands Holdings, Inc		21,949
228,902		Procter & Gamble Co		14,006,513
1,531	e*	Progenics Pharmaceuticals, Inc		33,024
2,367	*	Protalix BioTherapeutics, Inc		63,885
2,065	*	Quidel Corp		36,261
15,023	e*	Revlon, Inc (Class A)		20,582
2,779	*	Rockwood Holdings, Inc		101,572

97

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
11,080		Rohm & Haas Co	$	605,854
8,317		RPM International, Inc		192,206
2,713	e*	Salix Pharmaceuticals Ltd		33,370
3,048	e*	Santarus, Inc		15,758
108,255		Schering-Plough Corp		3,295,282
2,551	e*	Sciele Pharma, Inc		60,102
3,192	e	Scotts Miracle-Gro Co (Class A)		137,064
3,555	e	Sensient Technologies Corp		90,261
7,776	*	Sepracor, Inc		318,972
8,079		Sherwin-Williams Co		537,011
9,532		Sigma-Aldrich Corp		406,730
642		Stepan Co		19,440
2,950	e*	SuperGen, Inc		16,402
989	e*	SurModics, Inc		49,450
1,738	e*	Tanox, Inc		33,735
2,496	e*	Tercica, Inc		12,730
2,795	e	Tronox, Inc (Class B)		39,270
3,450	e	UAP Holding Corp		103,983
1,681	e*	United Therapeutics Corp		107,181
1,120	e*	USANA Health Sciences, Inc		50,109
6,499	e*	USEC, Inc		142,848
6,593	e	Valeant Pharmaceuticals International		110,037
7,746		Valspar Corp		220,064
1,923	e*	Vanda Pharmaceuticals, Inc		38,960
6,446	*	VCA Antech, Inc		242,950
2,367	e*	Verasun Energy Corp		34,274
9,173	e*	Vertex Pharmaceuticals, Inc		261,981
4,580	e*	Viropharma, Inc		63,204
1,000	e*	Visicu, Inc		9,150
6,606	*	Warner Chilcott Ltd (Class A)		119,503
8,088	*	Watson Pharmaceuticals, Inc		263,103
966	e	Westlake Chemical Corp		27,164
5,138	e*	WR Grace & Co		125,830
97,890		Wyeth		5,613,013
1,559	e*	Xenoport, Inc		69,251
9,644	*	XOMA Ltd		29,318
2,506	e*	Zymogenetics, Inc		36,613
		TOTAL CHEMICALS AND ALLIED PRODUCTS		108,859,424
COAL MINING - 0.18%
5,170	e*	Alpha Natural Resources, Inc		107,484
10,396	e	Arch Coal, Inc		361,781
13,225		Consol Energy, Inc		609,805
9,945	e*	International Coal Group, Inc		59,471
6,055	e	Massey Energy Co		161,366
19,262	e	Peabody Energy Corp		931,896
		TOTAL COAL MINING		2,231,803
COMMUNICATIONS - 4.79%
2,568	e	Alaska Communications Systems Group, Inc		40,677
24,998		Alltel Corp		1,688,615
30,544	*	American Tower Corp (Class A)		1,282,848
2,386	e*	Anixter International, Inc		179,451
448,209		AT&T, Inc		18,600,674

98

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
800	e	Atlantic Tele-Network, Inc	$	22,912
1,395	*	Audiovox Corp (Class A)		18,093
1,834	*	Authorize.Net Holdings, Inc		32,810
32,598	*	Avaya, Inc		548,966
3,879	e*	Brightpoint, Inc		53,491
16,121	*	Cablevision Systems Corp (Class A)		583,419
1,494	e*	Cbeyond Communications, Inc		57,534
1,116	e*	Centennial Communications Corp		10,591
2,487	*	Central European Media Enterprises Ltd (Class A)		242,681
7,967		CenturyTel, Inc		390,781
27,576	e*	Charter Communications, Inc (Class A)		111,683
16,481	*	Cincinnati Bell, Inc		95,260
15,267	e	Citadel Broadcasting Corp		98,472
24,945	e	Citizens Communications Co		380,910
36,094		Clear Channel Communications, Inc		1,365,075
1,676	*	Clearwire Corp (Class A)		40,945
214,691	*	Comcast Corp (Class A)		6,037,111
1,800	e	Consolidated Communications Holdings, Inc		40,680
2,758	e*	Cox Radio, Inc (Class A)		39,274
16,860	e*	Crown Castle International Corp		611,512
1,364	e*	Crown Media Holdings, Inc (Class A)		9,821
1,250	e	CT Communications, Inc		38,138
3,769	e*	CTC Media, Inc		102,291
3,320	e*	Cumulus Media, Inc (Class A)		31,042
966	*	DG FastChannel,Inc		19,687
54,811	*	DIRECTV Group, Inc		1,266,682
11,517	e*	Dobson Communications Corp (Class A)		127,954
15,124	*	EchoStar Communications Corp (Class A)		655,928
10,977		Embarq Corp		695,647
2,087	e	Emmis Communications Corp (Class A)		19,221
2,549	e	Entercom Communications Corp (Class A)		63,445
4,266	e*	Entravision Communications Corp (Class A)		44,494
800	*	Eschelon Telecom, Inc		23,680
2,529	e	Fairpoint Communications, Inc		44,890
8,070	e*	FiberTower Corp		34,943
523	e*	Fisher Communications, Inc		26,563
9,860	*	Foundry Networks, Inc		164,268
3,128	*	General Communication, Inc (Class A)		40,070
1,280	e*	GeoEye, Inc		27,814
1,774	e*	Global Crossing Ltd		33,493
5,861	e	Global Payments, Inc		232,389
1,429	*	Globalstar, Inc		14,790
1,378		Golden Telecom, Inc		75,804
2,720		Gray Television, Inc		25,214
1,609	e*	Harris Stratex Networks, Inc (Class A)		28,930
2,451	e	Hearst-Argyle Television, Inc		59,069
471	e*	Hughes Communications, Inc		24,577
12,457	e*	IAC/InterActiveCorp		431,137
2,397	*	Ibasis, Inc		24,090
7,585	e*	ICO Global Communications Holdings Ltd		26,396
3,466	e	IDT Corp (Class B)		35,769
964	e*	InPhonic, Inc		4,492
3,362		Iowa Telecommunications Services, Inc		76,418
1,117		iPCS, Inc		37,833

99

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,182	e*	j2 Global Communications, Inc	$	145,952
1,886	e*	Knology, Inc		32,760
3,914	*	Leap Wireless International, Inc		330,733
111,062	e*	Level 3 Communications, Inc		649,713
27,923	e*	Liberty Global, Inc (Class A)		1,145,960
9,377	*	Liberty Media Corp - Capital (Series A)		1,103,485
47,355	*	Liberty Media Holding Corp (Interactive A)		1,057,437
1,731	e*	Lin TV Corp (Class A)		32,560
1,664	e*	Lodgenet Entertainment Corp		53,348
3,498	e*	Mastec, Inc		55,338
3,808	*	Mediacom Communications Corp (Class A)		36,900
4,193	*	MetroPCS Communications, Inc		138,537
5,167	e*	NeuStar, Inc (Class A)		149,688
1,998	e*	Nextwave Wireless, Inc		16,683
11,824	e*	NII Holdings, Inc		954,670
1,005	e	North Pittsburgh Systems, Inc		21,356
2,620	e*	Novatel Wireless, Inc		68,172
2,038		NTELOS Holdings Corp		56,330
2,310	e*	Orbcomm, Inc		37,907
5,054	*	PAETEC Holding Corp		57,060
117,537	e*	Qwest Communications International, Inc		1,140,118
4,809	e*	Radio One, Inc (Class D)		33,952
1,810		RCN Corp		34,010
880	e*	Rural Cellular Corp (Class A)		38,553
680		Salem Communications Corp (Class A)		7,541
2,031	*	SAVVIS, Inc		100,555
7,079	e*	SBA Communications Corp (Class A)		237,784
510	e	Shenandoah Telecom Co		25,923
2,967	e	Sinclair Broadcast Group, Inc (Class A)		42,191
2,978	e*	Spanish Broadcasting System, Inc (Class A)		12,805
204,475		Sprint Nextel Corp		4,234,677
1,132	e	SureWest Communications		30,836
910	*	Switch & Data Facilities Co, Inc		17,463
1,077	*	Syniverse Holdings, Inc		13,850
7,465		Telephone & Data Systems, Inc		467,085
3,425	e*	Terremark Worldwide, Inc		22,091
11,188	*	Time Warner Cable, Inc (Class A)		438,234
5,517	e*	TiVo, Inc		31,943
1,359	e*	US Cellular Corp		123,125
1,775		USA Mobility, Inc		47,499
211,063		Verizon Communications, Inc		8,689,464
2,083	e*	Vonage Holdings Corp		6,478
33,311	e	Windstream Corp		491,670
22,044	e*	XM Satellite Radio Holdings, Inc (Class A)		259,458
		TOTAL COMMUNICATIONS		59,833,338
DEPOSITORY INSTITUTIONS - 8.60%
847		1st Source Corp		21,107
1,610	e	Alabama National Bancorp		99,562
2,315	e	Amcore Financial, Inc		67,112
673	e	AmericanWest Bancorp		12,276
686	e	Ameris Bancorp		15,414
1,394	e	Anchor Bancorp Wisconsin, Inc		36,509
9,263		Associated Banc-Corp		302,900

100

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,319		Astoria Financial Corp	$	158,228
744		Bancfirst Corp		31,858
1,982		Banco Latinoamericano de Exportaciones S.A.		37,262
574	*	Bancorp, Inc		12,835
6,191	e	Bancorpsouth, Inc		151,432
4,203		Bank Mutual Corp		48,461
322,593		Bank of America Corp		15,771,572
3,876		Bank of Hawaii Corp		200,157
55,146		Bank of New York Co Inc/The		2,285,250
932	e	Bank of the Ozarks, Inc		25,975
3,114	e	BankAtlantic Bancorp, Inc (Class A)		26,812
1,731	e	BankFinancial Corp		26,744
2,392		BankUnited Financial Corp (Class A)		48,007
932		Banner Corp		31,744
40,046		BB&T Corp		1,629,071
402	e	Berkshire Hills Bancorp, Inc		12,667
1,713		BOK Financial Corp		91,508
2,335	e	Boston Private Financial Holdings, Inc		62,741
4,247	e	Brookline Bancorp, Inc		48,883
878	e	Capital City Bank Group, Inc		27,517
640	e	Capital Corp of the West		15,334
838	e	Capitol Bancorp Ltd		22,903
2,231	e	Capitol Federal Financial		82,369
1,729	e	Cascade Bancorp		40,009
379	e	Cass Information Systems, Inc		13,743
4,114	e	Cathay General Bancorp		137,984
3,680	e*	Centennial Bank Holdings, Inc		31,170
705	e	Center Financial Corp		11,929
1,951	e	Central Pacific Financial Corp		64,403
1,721	e	Chemical Financial Corp		44,522
3,766		Chittenden Corp		131,622
359,584		Citigroup, Inc		18,443,063
6,479	e	Citizens Banking Corp		118,566
1,074	e	City Bank		33,842
1,809		City Holding Co		69,339
2,968		City National Corp		225,835
665	e	Clifton Savings Bancorp, Inc		7,209
851	e	CoBiz, Inc		15,420
11,381	e	Colonial Bancgroup, Inc		284,184
1,281		Columbia Banking System, Inc		37,469
11,346		Comerica, Inc		674,747
13,150		Commerce Bancorp, Inc		486,419
5,555		Commerce Bancshares, Inc		251,642
317	e*	Community Bancorp		8,870
2,176	e	Community Bank System, Inc		43,564
1,615	e	Community Banks, Inc		52,035
986	e	Community Trust Bancorp, Inc		31,848
9,573		Compass Bancshares, Inc		660,346
2,522	e	Corus Bankshares, Inc		43,530
4,570	e	Cullen/Frost Bankers, Inc		244,358
4,509	e	CVB Financial Corp		50,140
1,770		Dime Community Bancshares		23,346
1,168	e*	Dollar Financial Corp		33,288
1,702	e	Downey Financial Corp		112,298

101

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,725	e	East West Bancorp, Inc	$	183,708
506	e	Enterprise Financial Services Corp		12,579
3,332	e*	Euronet Worldwide, Inc		97,161
37,981	e	Fifth Third Bancorp		1,510,504
915	e	First Bancorp		17,138
6,054		First Bancorp		66,533
827	e	First Busey Corp		16,532
3,135	e	First Charter Corp		61,038
531		First Citizens Bancshares, Inc (Class A)		103,226
5,866	e	First Commonwealth Financial Corp		64,057
2,001	e	First Community Bancorp, Inc		114,477
675	e	First Community Bancshares, Inc		21,053
2,395	e	First Financial Bancorp		35,901
2,018	e	First Financial Bankshares, Inc		78,319
1,067	e	First Financial Corp		31,327
1,050	e	First Financial Holdings, Inc		34,346
8,969	e	First Horizon National Corp		349,791
988		First Indiana Corp		21,855
1,232	e	First Merchants Corp		29,605
4,559	e	First Midwest Bancorp, Inc		161,890
9,160	e	First Niagara Financial Group, Inc		119,996
990		First Place Financial Corp		20,909
585	*	First Regional Bancorp		14,882
2,265		First Republic Bank		121,540
587	e	First South Bancorp, Inc		15,790
1,136	e	First State Bancorporation		24,185
1,227	e*	FirstFed Financial Corp		69,608
5,484		FirstMerit Corp		114,780
2,890	e	Flagstar Bancorp, Inc		34,825
1,422		Flushing Financial Corp		22,837
4,412	e	FNB Corp		73,857
1,503	e*	Franklin Bank Corp		22,395
5,019	e	Fremont General Corp		54,004
2,472	e	Frontier Financial Corp		55,694
12,256	e	Fulton Financial Corp		176,732
3,320	e	Glacier Bancorp, Inc		67,562
796	e	Great Southern Bancorp, Inc		21,532
3,362		Greater Bay Bancorp		93,598
479	e	Greene County Bancshares, Inc		14,974
2,298		Hancock Holding Co		86,290
2,440	e	Hanmi Financial Corp		41,626
2,147	e	Harleysville National Corp		34,610
996		Heartland Financial USA, Inc		24,203
751		Heritage Commerce Corp		17,784
842	e	Home Bancshares, Inc		18,987
926	e	Horizon Financial Corp		20,178
39,595	e	Hudson City Bancorp, Inc		483,851
17,158	e	Huntington Bancshares, Inc		390,173
1,293	e	IBERIABANK Corp		63,939
1,012	e	Independent Bank Corp		29,894
1,412	e	Independent Bank Corp		24,301
4,931	e	IndyMac Bancorp, Inc		143,837
1,349		Integra Bank Corp		28,963
3,421	e	International Bancshares Corp		87,646

102

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,385	*	Investors Bancorp, Inc	$	45,461
5,071		Investors Financial Services Corp		312,729
1,267		Irwin Financial Corp		18,967
396		ITLA Capital Corp		20,640
248,341		JPMorgan Chase & Co		12,032,121
1,143	e	Kearny Financial Corp		15,408
28,516		Keycorp		978,954
1,910	e	KNBT Bancorp, Inc		28,077
1,137	e	Lakeland Bancorp, Inc		15,122
484	e	Lakeland Financial Corp		10,295
4,994		M&T Bank Corp		533,859
1,197	e	Macatawa Bank Corp		19,044
2,557	e	MAF Bancorp, Inc		138,743
747	e	MainSource Financial Group, Inc		12,542
18,912		Marshall & Ilsley Corp		900,779
2,310	e	MB Financial, Inc		80,249
30,278		Mellon Financial Corp		1,332,232
995	e	Midwest Banc Holdings, Inc		14,428
1,730	e	Nara Bancorp, Inc		27,559
342	e	NASB Financial, Inc		11,508
37,206	e	National City Corp		1,239,704
3,075	e	National Penn Bancshares, Inc		51,291
2,846	e	NBT Bancorp, Inc		64,206
3,239	e*	Net 1 UEPS Technologies, Inc		78,222
22,748	e	New York Community Bancorp, Inc		387,171
8,912	e	NewAlliance Bancshares, Inc		131,185
15,947		Northern Trust Corp		1,024,435
1,242	e	Northwest Bancorp, Inc		32,466
4,545	e	Old National Bancorp		75,492
950	e	Old Second Bancorp, Inc		27,702
682	e	Omega Financial Corp		18,339
1,407	e	Oriental Financial Group, Inc		15,350
3,392	e	Pacific Capital Bancorp		91,516
985	e	Park National Corp		83,518
3,060	e	Partners Trust Financial Group, Inc		32,130
753		Peoples Bancorp, Inc		20,384
15,762		People's United Financial, Inc		279,460
1,515	e	PFF Bancorp, Inc		42,314
936	e*	Pinnacle Financial Partners, Inc		27,481
25,082		PNC Financial Services Group, Inc		1,795,370
20,338		Popular, Inc		326,832
493	e	Preferred Bank		19,740
100	e	Premierwest Bancorp		1,352
1,112	e	PrivateBancorp, Inc		32,026
2,331	e	Prosperity Bancshares, Inc		76,364
2,200	e	Provident Bankshares Corp		72,116
4,520	e	Provident Financial Services, Inc		71,235
2,942		Provident New York Bancorp		39,746
51,232	e	Regions Financial Corp		1,695,779
762	e	Renasant Corp		17,328
406	e	Republic Bancorp, Inc (Class A)		6,736
570	e	Royal Bancshares of Pennsylvania (Class A)		11,235
2,040	e	S&T Bancorp, Inc		67,116
994	e	S.Y. Bancorp, Inc		23,617

103

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,080	e	Sandy Spring Bancorp, Inc	$	33,955
501		Santander BanCorp		7,445
639		SCBT Financial Corp		23,260
930	e	Seacoast Banking Corp of Florida		20,228
1,242	e	Security Bank Corp		24,964
251	e	Sierra Bancorp		7,078
1,978	*	Signature Bank		67,450
1,157	e	Simmons First National Corp (Class A)		31,922
8,620		Sky Financial Group, Inc		240,153
5,289	e	South Financial Group, Inc		119,743
814	e	Southside Bancshares, Inc		17,680
763		Southwest Bancorp, Inc		18,343
29,709		Sovereign Bancorp, Inc		628,048
24,451		State Street Corp		1,672,448
1,269	e	Sterling Bancorp		20,342
4,840		Sterling Bancshares, Inc		54,740
1,876	e*	Sterling Financial Corp		19,736
3,665	e	Sterling Financial Corp		106,065
699	e	Suffolk Bancorp		22,312
884	e*	Sun Bancorp, Inc		14,913
25,926		SunTrust Banks, Inc		2,222,895
2,466	e*	Superior Bancorp		25,227
3,355	e	Susquehanna Bancshares, Inc		75,051
2,738	e*	SVB Financial Group		145,415
20,383		Synovus Financial Corp		625,758
296		Taylor Capital Group, Inc		8,149
9,794		TCF Financial Corp		272,273
1,548	e*	Texas Capital Bancshares, Inc		34,598
1,554	e	TierOne Corp		46,775
549	e	Tompkins Trustco, Inc		20,533
977	e	Trico Bancshares		21,846
5,084	e	Trustco Bank Corp NY		50,230
4,119		Trustmark Corp		106,517
7,219	e	UCBH Holdings, Inc		131,891
2,747		UMB Financial Corp		101,282
4,445	e	Umpqua Holdings Corp		104,502
902	e	Union Bankshares Corp		20,926
3,473		UnionBanCal Corp		207,338
2,884	e	United Bankshares, Inc		91,711
2,690	e	United Community Banks, Inc		69,644
2,248	e	United Community Financial Corp		22,435
296	e	United Security Bancshares		6,032
793	e	Univest Corp of Pennsylvania		17,858
126,388		US Bancorp		4,164,485
987	e	USB Holding Co, Inc		18,812
9,501	e	Valley National Bancorp		213,677
820		ViewPoint Financial Group		14,112
100	e	Vineyard National Bancorp		2,297
874	e*	Virginia Commerce Bancorp		14,779
7,361	e	W Holding Co, Inc		19,433
139,081		Wachovia Corp		7,127,901
6,329	e	Washington Federal, Inc		153,858
64,145		Washington Mutual, Inc		2,735,143
835	e	Washington Trust Bancorp, Inc		21,050

104

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
439	e*	Wauwatosa Holdings, Inc	$	7,261
4,347		Webster Financial Corp		185,486
244,069		Wells Fargo & Co		8,583,907
1,413	e	WesBanco, Inc		41,684
1,165		West Coast Bancorp		35,404
3,002	e	Westamerica Bancorporation		132,808
888	e*	Western Alliance Bancorp		26,507
56,183		Western Union Co		1,170,292
1,692		Westfield Financial, Inc		16,869
5,078		Whitney Holding Corp		152,848
5,524		Wilmington Trust Corp		229,301
1,162	e	Wilshire Bancorp, Inc		14,153
1,892	e	Wintrust Financial Corp		82,964
425		WSFS Financial Corp		27,808
749	e	Yardville National Bancorp		25,578
7,965		Zions Bancorporation		612,588
		TOTAL DEPOSITORY INSTITUTIONS		107,416,363
EATING AND DRINKING PLACES - 0.86%
2,213	e*	AFC Enterprises		38,263
5,372	e	Applebees International, Inc		129,465
885	*	Benihana, Inc (Class A)		17,700
685	e*	BJ's Restaurants, Inc		13,522
3,189	e	Bob Evans Farms, Inc		117,515
8,259		Brinker International, Inc		241,741
1,121	e*	Buffalo Wild Wings, Inc		46,622
4,117	e	Burger King Holdings, Inc		108,442
2,127	e*	California Pizza Kitchen, Inc		45,688
2,103	e	CBRL Group, Inc		89,335
2,169	*	CEC Entertainment, Inc		76,349
5,222	e*	Cheesecake Factory		128,043
2,386	e*	Chipotle Mexican Grill, Inc (Class B)		187,611
4,601	e	CKE Restaurants, Inc		92,342
10,273		Darden Restaurants, Inc		451,909
13,252	e*	Denny's Corp		58,971
3,182	e	Domino's Pizza, Inc		58,135
1,407	e	IHOP Corp		76,583
2,271	*	Jack in the Box, Inc		161,105
4,091	e*	Krispy Kreme Doughnuts, Inc		37,883
1,218	e	Landry's Restaurants, Inc		36,857
788	*	McCormick & Schmick's Seafood Restaurants, Inc		20,441
86,799		McDonald's Corp		4,405,917
421	e*	Morton's Restaurant Group, Inc		7,624
1,468		O'Charleys, Inc		29,595
1,562	e*	Papa John's International, Inc		44,923
1,800	e*	PF Chang's China Bistro, Inc		63,360
2,378	e*	Rare Hospitality International, Inc		63,659
1,322	e*	Red Robin Gourmet Burgers, Inc		53,369
4,035	e	Ruby Tuesday, Inc		106,242
1,290	e*	Ruth's Chris Steak House, Inc		21,917
5,512	e*	Sonic Corp		121,925
53,872	*	Starbucks Corp		1,413,601
1,868	e*	Steak N Shake Co		31,177
3,274	e*	Texas Roadhouse, Inc (Class A)		41,874

105

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
13,785	e	Tim Hortons, Inc	$	423,889
4,161	e	Triarc Cos (Class B)		65,328
6,605	e	Wendy's International, Inc		242,734
38,084		Yum! Brands, Inc		1,246,108
		TOTAL EATING AND DRINKING PLACES		10,617,764
EDUCATIONAL SERVICES - 0.15%
10,222	e*	Apollo Group, Inc (Class A)		597,271
6,895	*	Career Education Corp		232,844
5,975	e*	Corinthian Colleges, Inc		97,333
4,103		DeVry, Inc		139,584
2,955	*	ITT Educational Services, Inc		346,858
3,199	*	Laureate Education, Inc		197,250
1,156	e	Strayer Education, Inc		152,257
2,118	e*	Universal Technical Institute, Inc		53,776
		TOTAL EDUCATIONAL SERVICES		1,817,173
ELECTRIC, GAS, AND SANITARY SERVICES - 3.93%
48,530	*	AES Corp		1,061,858
5,657		AGL Resources, Inc		228,995
12,045	*	Allegheny Energy, Inc		623,208
2,062	e	Allete, Inc		97,017
8,588		Alliant Energy Corp		333,644
19,812	*	Allied Waste Industries, Inc		266,670
15,060		Ameren Corp		738,091
873	e	American Ecology Corp		18,700
28,995		American Electric Power Co, Inc		1,305,935
1,088	e	American States Water Co		38,700
9,637		Aqua America, Inc		216,736
25,149	*	Aquila, Inc		102,859
6,808		Atmos Energy Corp		204,648
3,551		Avista Corp		76,524
2,739	e	Black Hills Corp		108,875
1,248	e	California Water Service Group		46,788
927		Cascade Natural Gas Corp		24,482
1,535	e*	Casella Waste Systems, Inc (Class A)		16,547
22,485	e	Centerpoint Energy, Inc		391,239
732	e	Central Vermont Public Service Corp		27,582
1,617	e	CH Energy Group, Inc		72,716
1,101	e*	Clean Harbors, Inc		54,411
4,015	e	Cleco Corp		98,368
16,876		CMS Energy Corp		290,267
18,975	e	Consolidated Edison, Inc		856,152
1,060	e	Consolidated Water Co, Inc		31,069
13,107		Constellation Energy Group, Inc		1,142,537
8,559	*	Covanta Holding Corp		210,979
2,664	e	Crosstex Energy, Inc		76,537
25,463		Dominion Resources, Inc		2,197,712
8,231	e	DPL, Inc		233,267
12,798		DTE Energy Co		617,120
90,679		Duke Energy Corp		1,659,426
24,498	e*	Dynegy, Inc (Class A)		231,261
23,683		Edison International		1,329,090
50,434		El Paso Corp		868,978

106

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,511	*	El Paso Electric Co	$	110,790
1,723		Empire District Electric Co		38,544
5,210		Energen Corp		286,237
11,512	e	Energy East Corp		300,348
460	e	EnergySouth, Inc		23,460
14,339		Entergy Corp		1,539,292
48,890		Exelon Corp		3,549,414
22,151		FirstEnergy Corp		1,433,834
29,543		FPL Group, Inc		1,676,270
5,881		Great Plains Energy, Inc		171,255
7,258	e	Hawaiian Electric Industries, Inc		171,942
3,419	e	Idacorp, Inc		109,545
5,504	e	Integrys Energy Group, Inc		279,218
3,079	e	ITC Holdings Corp		125,100
12,769		KeySpan Corp		536,043
1,456	e	Laclede Group, Inc		46,417
811	e	Markwest Hydrocarbon, Inc		46,576
13,617	e	MDU Resources Group, Inc		381,821
1,728		Metal Management, Inc		76,153
1,299	e	MGE Energy, Inc		42,438
18,598	*	Mirant Corp		793,205
6,188	e	National Fuel Gas Co		268,002
2,128	e	New Jersey Resources Corp		108,571
3,204	e	Nicor, Inc		137,516
19,934		NiSource, Inc		412,852
11,220	e	Northeast Utilities		318,199
2,153	e	Northwest Natural Gas Co		99,447
3,402	e	NorthWestern Corp		108,218
17,615	e*	NRG Energy, Inc		732,256
8,088		NSTAR		262,456
6,920		OGE Energy Corp		253,618
8,097		Oneok, Inc		408,170
800	e	Ormat Technologies, Inc		30,144
2,406	e	Otter Tail Corp		77,160
13,838		Pepco Holdings, Inc		390,232
25,542		PG&E Corp		1,157,053
1,112	e*	Pico Holdings, Inc		48,105
5,551		Piedmont Natural Gas Co, Inc		136,832
1,280	e*	Pike Electric Corp		28,646
7,548		Pinnacle West Capital Corp		300,788
5,546		PNM Resources, Inc		154,123
1,804		Portland General Electric Co		49,502
28,080		PPL Corp		1,313,863
18,740		Progress Energy, Inc		854,357
773	m,v'*	Progress Energy, Inc		8
18,441		Public Service Enterprise Group, Inc		1,618,751
8,509		Puget Energy, Inc		205,748
12,528		Questar Corp		662,105
24,501	e*	Reliant Energy, Inc		660,302
12,092	e	Republic Services, Inc		370,499
1,550	e	Resource America, Inc (Class A)		31,946
8,476		SCANA Corp		324,546
2,574	e*	SEMCO Energy, Inc		20,000
19,302		Sempra Energy		1,143,257

107

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
16,532	*	Sierra Pacific Resources	$	290,302
1,222	e	SJW Corp		40,693
2,516	e	South Jersey Industries, Inc		89,016
54,668		Southern Co		1,874,566
7,286		Southern Union Co		237,477
3,060		Southwest Gas Corp		103,459
1,337	e	Southwest Water Co		17,073
6,688	*	Stericycle, Inc		297,348
14,042		TECO Energy, Inc		241,242
33,371		TXU Corp		2,245,868
7,306		UGI Corp		199,308
1,465		UIL Holdings Corp		48,492
2,575	e	Unisource Energy Corp		84,692
5,581	e	Vectren Corp		150,296
5,078	*	Waste Connections, Inc		153,559
800		Waste Industries USA, Inc		27,312
1,264	e*	Waste Services, Inc		15,358
6,899		Westar Energy, Inc		167,508
3,922	e	WGL Holdings, Inc		128,014
43,548		Williams Cos, Inc		1,377,019
8,513		Wisconsin Energy Corp		376,530
29,717		Xcel Energy, Inc		608,307
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		49,097,601
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.13%
1,190	e*	Acme Packet, Inc		13,673
2,034	*	Actel Corp		28,293
3,364		Acuity Brands, Inc		202,782
7,913	*	Adaptec, Inc		30,149
8,023	*	ADC Telecommunications, Inc		147,062
4,569	e	Adtran, Inc		118,657
2,449	e*	Advanced Analogic Technologies, Inc		23,755
2,060	e*	Advanced Energy Industries, Inc		46,680
40,641	e*	Advanced Micro Devices, Inc		581,166
4,658	*	Aeroflex, Inc		66,004
26,236		Altera Corp		580,603
1,924	e*	American Superconductor Corp		37,152
7,886		Ametek, Inc		312,916
4,872	*	AMIS Holdings, Inc		60,997
7,597	e*	Amkor Technology, Inc		119,653
13,028		Amphenol Corp (Class A)		464,448
5,432	e*	Anadigics, Inc		74,907
23,782		Analog Devices, Inc		895,154
10,699	*	Andrew Corp		154,494
62,877	*	Apple Computer, Inc		7,673,509
27,830	*	Applied Micro Circuits Corp		69,575
7,248	*	Arris Group, Inc		127,492
4,102	e*	Atheros Communications, Inc		126,506
33,680	e*	Atmel Corp		187,261
2,319	*	ATMI, Inc		69,570
21,071	e*	Avanex Corp		37,928
10,588	*	Avnet, Inc		419,708
3,267		AVX Corp		54,690
860	e*	AZZ, Inc		28,939

108

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,139	e	Baldor Electric Co	$	154,690
831	e	Bel Fuse, Inc (Class B)		28,279
5,858	e*	Benchmark Electronics, Inc		132,508
929	e*	BigBand Networks, Inc		12,179
33,687	*	Broadcom Corp (Class A)		985,345
3,579	*	C-COR, Inc		50,321
1,968	*	Ceradyne, Inc		145,553
2,447	*	Checkpoint Systems, Inc		61,787
5,855	*	Ciena Corp		211,541
441,631	*	Cisco Systems, Inc		12,299,423
1,412	e*	Color Kinetics, Inc		47,175
1,676	*	Comtech Telecommunications Corp		77,800
33,104	e*	Conexant Systems, Inc		45,684
12,538		Cooper Industries Ltd (Class A)		715,794
6,476	e*	Cree, Inc		167,405
2,860		CTS Corp		36,208
1,286	e	Cubic Corp		38,811
11,045	e*	Cypress Semiconductor Corp		257,238
1,339	e*	Diodes, Inc		55,930
1,478	e*	Ditech Networks, Inc		12,105
2,867	*	Dolby Laboratories, Inc (Class A)		101,520
2,395	*	DSP Group, Inc		49,026
1,298	e*	DTS, Inc		28,257
10,648		Eaton Corp		990,264
2,090	e*	Electro Scientific Industries, Inc		43,472
1,000	*	EMS Technologies, Inc		22,060
4,097	e*	Energizer Holdings, Inc		408,159
2,636	e*	Energy Conversion Devices, Inc		81,242
3,108	*	EnerSys		56,876
5,991	e*	Evergreen Solar, Inc		55,716
2,144	*	Exar Corp		28,730
9,427	*	Fairchild Semiconductor International, Inc		182,130
21,254	e*	Finisar Corp		80,340
2,429	e*	First Solar, Inc		216,885
1,518	e	Franklin Electric Co, Inc		71,619
4,136	e*	FuelCell Energy, Inc		32,757
8,404	e	Garmin Ltd		621,644
17,281	*	Gemstar-TV Guide International, Inc		85,023
2,206	*	Genlyte Group, Inc		173,259
7,461	*	GrafTech International Ltd		125,643
1,267	e*	Greatbatch, Inc		41,051
4,735		Harman International Industries, Inc		553,048
8,009	e*	Harmonic, Inc		71,040
9,763		Harris Corp		532,572
2,217	*	Helen of Troy Ltd		59,859
7,028	e*	Hexcel Corp		148,080
1,184	e*	Hittite Microwave Corp		50,592
56,682		Honeywell International, Inc		3,190,063
1,549	e*	Hutchinson Technology, Inc		29,137
2,318		Imation Corp		85,441
13,729	*	Integrated Device Technology, Inc		209,642
422,377		Intel Corp		10,035,678
3,553	e*	Interdigital Communications Corp		114,300
4,982	*	International Rectifier Corp		185,629

109

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
9,826		Intersil Corp (Class A)	$	309,126
1,529		Inter-Tel, Inc		36,589
2,611	e*	InterVoice, Inc		21,750
711	e*	IPG Photonics Corp		14,184
820	e*	iRobot Corp		16,277
1,213	e*	IXYS Corp		10,129
4,159	e*	Jarden Corp		178,879
15,125	e*	JDS Uniphase Corp		203,129
6,433	e*	Kemet Corp		45,353
8,862		L-3 Communications Holdings, Inc		863,070
935	e*	Lamson & Sessions Co		24,843
7,232	*	Lattice Semiconductor Corp		41,367
3,217		Lincoln Electric Holdings, Inc		238,830
18,440	e	Linear Technology Corp		667,159
1,486	*	Littelfuse, Inc		50,182
765	*	Loral Space & Communications, Inc		37,699
1,191		LSI Industries, Inc		21,319
55,867	e*	LSI Logic Corp		419,561
34,299	*	Marvell Technology Group Ltd		624,585
3,972	*	Mattson Technology, Inc		38,528
23,326		Maxim Integrated Products, Inc		779,322
1,430	e*	Medis Technologies Ltd		21,007
16,198	*	MEMC Electronic Materials, Inc		990,022
1,417	e*	Mercury Computer Systems, Inc		17,287
3,008		Methode Electronics, Inc		47,075
4,803		Micrel, Inc		61,094
15,440		Microchip Technology, Inc		571,898
53,979	*	Micron Technology, Inc		676,357
5,525	e*	Microsemi Corp		132,324
3,670	e*	Microtune, Inc		19,194
3,813	e*	MIPS Technologies, Inc		33,516
9,991	e	Molex, Inc		299,830
1,603	e*	Monolithic Power Systems, Inc		27,972
2,916	*	Moog, Inc (Class A)		128,625
168,392		Motorola, Inc		2,980,538
15,196	e*	MRV Communications, Inc		49,387
683	e*	Multi-Fineline Electronix, Inc		11,720
309		National Presto Industries, Inc		19,263
22,801	e	National Semiconductor Corp		644,584
1,926	e*	Netlogic Microsystems, Inc		61,324
27,060	*	Network Appliance, Inc		790,152
9,584	*	Novellus Systems, Inc		271,898
25,848	*	Nvidia Corp		1,067,781
4,385	e*	Omnivision Technologies, Inc		79,412
16,832	e*	ON Semiconductor Corp		180,439
8,251	e*	On2 Technologies, Inc		24,753
6,336	e	Openwave Systems, Inc		39,663
1,582	*	Oplink Communications, Inc		23,730
1,500	*	OpNext, Inc		19,860
922	*	OSI Systems, Inc		25,217
1,256		Park Electrochemical Corp		35,394
1,095	*	Pericom Semiconductor Corp		12,220
3,034	*	Photronics, Inc		45,146
3,457		Plantronics, Inc		90,643

110

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,964	*	Plexus Corp	$	91,132
3,407	e*	PLX Technology, Inc		38,022
16,441	e*	PMC - Sierra, Inc		127,089
6,676	*	Polycom, Inc		224,314
350	*	Powell Industries, Inc		11,116
5,242	e*	Power-One, Inc		20,863
11,780	e*	Powerwave Technologies, Inc		78,926
11,852	*	QLogic Corp		197,336
121,171		Qualcomm, Inc		5,257,610
9,864	e	RadioShack Corp		326,893
7,206	e*	Rambus, Inc		129,564
1,106	e	Raven Industries, Inc		39,495
2,073	e	Regal-Beloit Corp		96,477
14,834	e*	RF Micro Devices, Inc		92,564
1,214	e*	Rogers Corp		44,918
40,403	e*	Sanmina-SCI Corp		126,461
2,218	*	Seachange International, Inc		17,212
5,307	e*	Semtech Corp		91,970
8,311	*	Silicon Image, Inc		71,308
3,931	*	Silicon Laboratories, Inc		136,052
6,899	*	Silicon Storage Technology, Inc		25,733
3,276	e*	Sirenza Microdevices, Inc		38,886
106,203	e*	Sirius Satellite Radio, Inc		320,733
12,128	e*	Skyworks Solutions, Inc		89,141
3,650	*	Smart Modular Technologies WWH, Inc		50,224
5,780	e*	Spansion, Inc (Class A)		64,158
4,136	e*	Spectrum Brands, Inc		28,001
1,620	*	Standard Microsystems Corp		55,631
1,067	*	Stoneridge, Inc		13,167
1,625	e*	Sunpower Corp (Class A)		102,456
885	e*	Supertex, Inc		27,736
11,962	*	Sycamore Networks, Inc		48,087
3,492	e*	Symmetricom, Inc		29,333
1,882	e*	Synaptics, Inc		67,357
4,270	e*	Syntax-Brillian Corp		21,008
2,698		Technitrol, Inc		77,352
1,290	e*	Techwell, Inc		16,899
3,831	e*	Tekelec		55,243
2,845		Teleflex, Inc		232,664
32,326	*	Tellabs, Inc		347,828
3,366	*	Tessera Technologies, Inc		136,491
104,212		Texas Instruments, Inc		3,921,498
4,226	*	Thomas & Betts Corp		245,108
4,543	e*	Trident Microsystems, Inc		83,364
8,908	*	Triquint Semiconductor, Inc		45,074
3,103	*	TTM Technologies, Inc		40,339
1,387	e*	Ultra Clean Holdings		19,390
1,534	e*	Universal Display Corp		24,099
1,021	*	Universal Electronics, Inc		37,083
10,172	e*	Utstarcom, Inc		57,065
6,832	*	Varian Semiconductor Equipment Associates, Inc		273,690
1,525	*	Viasat, Inc		48,953
1,042	e	Vicor Corp		13,786
12,884	e*	Vishay Intertechnology, Inc		203,834

111

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
832	e*	Volterra Semiconductor Corp	$	11,814
5,653	e	Whirlpool Corp		628,614
21,668		Xilinx, Inc		580,052
1,860	*	Zoltek Cos, Inc		77,246
4,035	*	Zoran Corp		80,861
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		76,650,779
ENGINEERING AND MANAGEMENT SERVICES - 0.79%
1,637	e*	Advisory Board Co		90,952
2,940	e*	Aecom Technology Corp		72,941
9,554	e*	Amylin Pharmaceuticals, Inc		393,243
4,845	*	Applera Corp (Celera Genomics Group)		60,078
5,437	e*	Ariad Pharmaceuticals, Inc		29,849
811	e	CDI Corp		26,114
27,564	*	Celgene Corp		1,580,244
793	e*	Cornell Cos, Inc		19,476
3,019	e	Corporate Executive Board Co		195,963
1,065	e*	CRA International, Inc		51,333
4,501	e*	CV Therapeutics, Inc		59,458
1,744		Diamond Management & Technology Consultants, Inc		23,021
3,591	e*	eResearch Technology, Inc		34,150
7,070	*	Exelixis, Inc		85,547
1,038	*	Exponent, Inc		23,220
6,409		Fluor Corp		713,770
4,049	e*	Gen-Probe, Inc		244,641
1,576	e*	Greenfield Online, Inc		25,074
3,538	*	Harris Interactive, Inc		18,928
6,892	e*	Hewitt Associates, Inc (Class A)		220,544
1,163	e*	Huron Consulting Group, Inc		84,911
4,338	e*	Incyte Corp		26,028
2,926	*	Infrasource Services, Inc		108,555
6,424	*	Isis Pharmaceuticals, Inc		62,184
8,438	e*	Jacobs Engineering Group, Inc		485,269
12,281	*	KBR, Inc		322,131
833	*	Kendle International, Inc		30,629
3,019	e*	Kosan Biosciences, Inc		15,759
632	e	Landauer, Inc		31,126
1,618	e*	LECG Corp		24,448
2,193	e*	Lifecell Corp		66,974
2,021	e*	Luminex Corp		24,879
1,528		MAXIMUS, Inc		66,285
1,732	*	Maxygen, Inc		14,843
8,095	*	McDermott International, Inc		672,856
528	*	Michael Baker Corp		19,615
16,475	e	Moody's Corp		1,024,745
546	e*	MTC Technologies, Inc		13,410
3,130	e*	Myriad Genetics, Inc		116,405
4,194	e*	Navigant Consulting, Inc		77,841
2,350	*	Neurogen Corp		15,604
1,807	*	Omnicell, Inc		37,549
24,899		Paychex, Inc		974,049
1,251	*	PharmaNet Development Group, Inc		39,882
2,153	*	Regeneration Technologies, Inc		24,221
4,062	e*	Regeneron Pharmaceuticals, Inc		72,791

112

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
20,344	e*	Rentech, Inc	$	52,691
3,290	*	Resources Connection, Inc		109,162
2,184	e*	Rigel Pharmaceuticals, Inc		19,459
7,022	e*	SAIC, Inc		126,888
5,306	e*	Savient Pharmaceuticals, Inc		65,901
3,046	e*	Seattle Genetics, Inc		29,881
2,432	e*	Senomyx, Inc		32,832
5,961	*	Shaw Group, Inc		275,935
1,965	e*	Symyx Technologies, Inc		22,617
1,084	e*	Tejon Ranch Co		47,913
6,868	e*	Telik, Inc		23,214
4,560	*	Tetra Tech, Inc		98,268
3,569	e*	URS Corp		173,275
2,209	e*	Verenium Corp		11,200
2,146	*	Washington Group International, Inc		171,701
3,388		Watson Wyatt & Co Holdings (Class A)		171,026
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		9,853,498
ENVIRONMENTAL QUALITY AND HOUSING - 0.00%
4,611	e*	Home Solutions of America, Inc		27,574
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		27,574
FABRICATED METAL PRODUCTS - 0.52%
2,484	e*	Alliant Techsystems, Inc		246,289
791	e	Ameron International Corp		71,340
5,063	e	Aptargroup, Inc		180,040
7,833		Ball Corp		416,481
910	*	Chart Industries, Inc		25,880
1,254		CIRCOR International, Inc		50,699
8,960		Commercial Metals Co		302,579
1,191	*	Commercial Vehicle Group, Inc		22,188
3,734		Crane Co		169,710
12,346	*	Crown Holdings, Inc		308,280
1,300	e	Dynamic Materials Corp		48,750
2,117	e*	Griffon Corp		46,108
1,051	e	Gulf Island Fabrication, Inc		36,470
36,067		Illinois Tool Works, Inc		1,954,471
1,657	e	Insteel Industries, Inc		29,826
945	*	Ladish Co, Inc		40,635
595	e	Lifetime Brands, Inc		12,168
3,177	e*	Mobile Mini, Inc		92,768
8,222	e	Mueller Water Products, Inc (Class A)		140,267
1,525	e*	NCI Building Systems, Inc		75,228
8,421		Parker Hannifin Corp		824,597
605	*	Park-Ohio Holdings Corp		16,517
7,584	e	Pentair, Inc		292,515
1,910	*	PGT, Inc		20,876
1,793		Silgan Holdings, Inc		99,117
2,518	e	Simpson Manufacturing Co, Inc		84,957
3,369	e*	Smith & Wesson Holding Corp		56,431
4,219		Snap-On, Inc		213,102
5,963	e	Stanley Works		361,954
1,650	e*	Sturm Ruger & Co, Inc		25,608
544	e	Sun Hydraulics Corp		26,792

113

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
5,486	e*	Taser International, Inc	$	76,585
1,274	e	Valmont Industries, Inc		92,696
2,268	e	Watts Water Technologies, Inc (Class A)		84,982
		TOTAL FABRICATED METAL PRODUCTS		6,546,906
FOOD AND KINDRED PRODUCTS - 3.07%
1,509	e*	Altus Pharmaceuticals, Inc		17,414
55,232		Anheuser-Busch Cos, Inc		2,880,901
47,431		Archer Daniels Midland Co		1,569,492
717	*	Boston Beer Co, Inc (Class A)		28,214
8,783		Bunge Ltd		742,164
16,811		Campbell Soup Co		652,435
336		Coca-Cola Bottling Co Consolidated		16,901
167,916		Coca-Cola Co		8,783,686
22,646		Coca-Cola Enterprises, Inc		543,504
36,211		ConAgra Foods, Inc		972,654
13,958	*	Constellation Brands, Inc (Class A)		338,900
5,619	e	Corn Products International, Inc		255,384
4,622	e*	Darling International, Inc		42,245
15,422		Del Monte Foods Co		187,532
590	e	Farmer Bros Co		13,352
4,328	e	Flowers Foods, Inc		144,382
25,168		General Mills, Inc		1,470,315
23,611		H.J. Heinz Co		1,120,814
5,204	e*	Hansen Natural Corp		223,668
12,241		Hershey Co		619,639
5,632		Hormel Foods Corp		210,355
773	e	Imperial Sugar Co		23,801
1,061		J&J Snack Foods Corp		40,042
4,114	e	J.M. Smucker Co		261,897
1,464	e*	Jones Soda Co		20,525
17,167		Kellogg Co		889,079
116,601		Kraft Foods, Inc (Class A)		4,110,185
1,831		Lancaster Colony Corp		76,701
2,200	e	Lance, Inc		51,832
880	e*	M&F Worldwide Corp		58,590
9,882		McCormick & Co, Inc		377,295
624	e	MGP Ingredients, Inc		10,546
3,757		Molson Coors Brewing Co (Class B)		347,372
280	e	National Beverage Corp		3,223
760	e*	Peet's Coffee & Tea, Inc		18,719
10,240		Pepsi Bottling Group, Inc		344,883
4,740	e	PepsiAmericas, Inc		116,414
118,591		PepsiCo, Inc		7,690,626
3,223	*	Performance Food Group Co		104,715
1,934	e*	Ralcorp Holdings, Inc		103,372
1,307	e	Reddy Ice Holdings, Inc		37,276
1,125	e	Sanderson Farms, Inc		50,648
53,423		Sara Lee Corp		929,560
7,945	e*	Smithfield Foods, Inc		244,627
3,000	e	Tootsie Roll Industries, Inc		83,130
2,662		Topps Co, Inc		27,978
2,537	e*	TreeHouse Foods, Inc		67,510
19,085		Tyson Foods, Inc (Class A)		439,741

114

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
17,460		Wrigley (Wm.) Jr Co	$	965,713
		TOTAL FOOD AND KINDRED PRODUCTS		38,329,951
FOOD STORES - 0.34%
105	e	Arden Group, Inc (Class A)		14,322
1,099	*	Great Atlantic & Pacific Tea Co, Inc		36,860
1,053	e	Ingles Markets, Inc (Class A)		36,276
51,609		Kroger Co		1,451,761
2,089	e*	Panera Bread Co (Class A)		96,219
1,523	e*	Pantry, Inc		70,210
3,348	e*	Pathmark Stores, Inc		43,390
2,653		Ruddick Corp		79,908
32,108		Safeway, Inc		1,092,635
15,279		Supervalu, Inc		707,723
1,576		Weis Markets, Inc		63,844
10,120	e	Whole Foods Market, Inc		387,596
2,040	*	Wild Oats Markets, Inc		34,190
2,499	e*	Winn-Dixie Stores, Inc		73,221
		TOTAL FOOD STORES		4,188,155
FORESTRY - 0.12%
5,897	e	Rayonier, Inc		266,191
15,701		Weyerhaeuser Co		1,239,280
		TOTAL FORESTRY		1,505,471
FURNITURE AND FIXTURES - 0.31%
954	e	Cal-Maine Foods, Inc		15,627
2,218	e	Ethan Allen Interiors, Inc		75,967
2,961	e	Furniture Brands International, Inc		42,046
4,756		Herman Miller, Inc		150,290
4,485		Hillenbrand Industries, Inc		291,525
3,718	e	HNI Corp		152,438
472	e	Hooker Furniture Corp		10,592
3,905		Interface, Inc (Class A)		73,648
14,347		Johnson Controls, Inc		1,660,952
1,541	e	Kimball International, Inc (Class B)		21,589
2,848	e	La-Z-Boy, Inc		32,638
13,454		Leggett & Platt, Inc		296,661
27,465		Masco Corp		781,929
3,423	e	Sealy Corp		56,548
3,453	e*	Select Comfort Corp		56,008
5,789	e	Tempur-Pedic International, Inc		149,935
2,514	e*	Williams Scotsman International, Inc		59,858
		TOTAL FURNITURE AND FIXTURES		3,928,251
FURNITURE AND HOMEFURNISHINGS STORES - 0.19%
20,137	*	Bed Bath & Beyond, Inc		724,731
12,474	e	Circuit City Stores, Inc		188,108
11,120	e*	GameStop Corp (Class A)		434,792
2,067	e*	Guitar Center, Inc		123,627
1,389	e	Haverty Furniture Cos, Inc		16,210
3,714		Knoll, Inc		83,194
3,819	e*	Mohawk Industries, Inc		384,917
9,172	e	Pier 1 Imports, Inc		77,870

115

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,361	e	Steelcase, Inc (Class A)	$	117,679
1,646	e	Tuesday Morning Corp		20,345
6,605	e	Williams-Sonoma, Inc		208,586
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		2,380,059
GENERAL BUILDING CONTRACTORS - 0.25%
200	e	Amrep Corp		9,510
788	e*	Avatar Holdings, Inc		60,629
2,850	e	Beazer Homes USA, Inc		70,310
1,171	e	Brookfield Homes Corp		34,064
8,740		Centex Corp		350,474
22,813		DR Horton, Inc		454,676
2,730	e*	Hovnanian Enterprises, Inc (Class A)		45,127
5,593	e	KB Home		220,196
9,569		Lennar Corp (Class A)		349,843
1,170	e	M/I Homes, Inc		31,122
1,434	e	McGrath RentCorp		48,311
2,585	e	MDC Holdings, Inc		125,011
1,928	e*	Meritage Homes Corp		51,574
322	e*	NVR, Inc		218,880
984	e*	Palm Harbor Homes, Inc		13,924
1,931	*	Perini Corp		118,814
14,889	e	Pulte Homes, Inc		334,258
2,845	e	Ryland Group, Inc		106,318
4,791	e	Standard-Pacific Corp		83,986
576	e*	Team, Inc		25,903
9,128	e*	Toll Brothers, Inc		228,017
3,768	e	Walter Industries, Inc		109,121
2,426	*	WCI Communities, Inc		40,466
		TOTAL GENERAL BUILDING CONTRACTORS		3,130,534
GENERAL MERCHANDISE STORES - 1.58%
2,769	e*	99 Cents Only Stores		36,302
8,184	e*	Big Lots, Inc		240,773
4,739	*	BJ's Wholesale Club, Inc		170,746
468	e	Bon-Ton Stores, Inc		18,748
2,595	e*	Cabela's, Inc		57,427
4,078		Casey's General Stores, Inc		111,166
588	e*	Conn's, Inc		16,793
32,467		Costco Wholesale Corp		1,899,969
4,799	e	Dillard's, Inc (Class A)		172,428
22,741		Dollar General Corp		498,483
10,966	e	Family Dollar Stores, Inc		376,353
2,660	e	Fred's, Inc		35,591
16,419		JC Penney Co, Inc		1,188,407
33,378		Macy's, Inc		1,327,777
1,563	e*	Retail Ventures, Inc		25,211
10,082	e	Saks, Inc		215,251
1,431	e	Stein Mart, Inc		17,544
62,177		Target Corp		3,954,457
33,048		TJX Cos, Inc		908,820
175,281		Wal-Mart Stores, Inc		8,432,769
		TOTAL GENERAL MERCHANDISE STORES		19,705,015

116

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
HEALTH SERVICES - 1.35%
1,564	e*	Alliance Imaging, Inc	$	14,686
2,499	e*	Amedisys, Inc		90,789
889	e*	American Dental Partners, Inc		23,087
13,923		AmerisourceBergen Corp		688,771
2,963	*	Amsurg Corp		71,527
3,023	e*	Apria Healthcare Group, Inc		86,972
4,413	e*	Assisted Living Concepts, Inc (A Shares)		46,998
839	e*	Bio-Reference Labs, Inc		22,947
2,109	e	Brookdale Senior Living, Inc		96,107
20,932		Cigna Corp		1,093,069
6,957	e*	Community Health Systems, Inc		281,411
498	e*	Corvel Corp		13,018
4,065	*	Covance, Inc		278,696
11,374	*	Coventry Health Care, Inc		655,711
2,028	e*	Cross Country Healthcare, Inc		33,827
1,679	e*	CryoLife, Inc		21,844
7,647	e*	DaVita, Inc		412,020
4,490	*	Edwards Lifesciences Corp		221,537
884	*	eHealth, Inc		16,876
900	e*	Emeritus Corp		27,882
1,610	e*	Enzo Biochem, Inc		24,070
16,984	*	Express Scripts, Inc		849,370
1,480	*	Genesis HealthCare Corp		101,262
1,154	e*	Genomic Health, Inc		21,695
3,149	e*	Gentiva Health Services, Inc		63,169
17,357	e	Health Management Associates, Inc (Class A)		197,176
4,600	*	Healthsouth Corp		83,306
2,689	e*	Healthways, Inc		127,378
1,110	e*	Hythiam, Inc		9,602
4,211	*	Immunomedics, Inc		17,476
2,207	*	Kindred Healthcare, Inc		67,799
8,549	*	Laboratory Corp of America Holdings		669,045
1,585	e	LCA-Vision, Inc		74,907
768	e*	LHC Group, Inc		20,122
4,530	*	LifePoint Hospitals, Inc		175,220
6,109	*	Lincare Holdings, Inc		243,444
2,852	*	Magellan Health Services, Inc		132,532
5,291		Manor Care, Inc		345,449
1,505	e*	Matria Healthcare, Inc		45,571
21,598		McKesson Corp		1,288,105
445	*	Medcath Corp		14,151
20,362	*	Medco Health Solutions, Inc		1,588,032
429	e	National Healthcare Corp		22,136
5,787	e*	Nektar Therapeutics		54,919
1,558	e*	Nighthawk Radiology Holdings, Inc		28,122
2,530	*	Odyssey HealthCare, Inc		30,006
9,147	e	Omnicare, Inc		329,841
2,866	e	Option Care, Inc		44,136
3,523	*	Pediatrix Medical Group, Inc		194,293
7,485	e	Pharmaceutical Product Development, Inc		286,451
4,222	e*	Psychiatric Solutions, Inc		153,090
11,356		Quest Diagnostics, Inc		586,537
818	e*	Radiation Therapy Services, Inc		21,546

117

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,135	*	RehabCare Group, Inc	$	16,162
4,038	*	Sierra Health Services, Inc		167,900
1,633	*	Skilled Healthcare Group, Inc (Class A)		25,328
2,010	e*	Stereotaxis, Inc		26,251
3,260	e*	Sun Healthcare Group, Inc		47,237
3,447	e*	Sunrise Senior Living, Inc		137,846
1,103	*	Symbion, Inc		23,946
35,326	e*	Tenet Healthcare Corp		229,972
6,480	*	Triad Hospitals, Inc		348,418
3,296		Universal Health Services, Inc (Class B)		202,704
44,607	*	WellPoint, Inc		3,560,977
		TOTAL HEALTH SERVICES		16,894,474
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.06%
5,123	*	Foster Wheeler Ltd		548,110
2,564		Granite Construction, Inc		164,558
2,299	*	Matrix Service Co		57,130
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		769,798
HOLDING AND OTHER INVESTMENT OFFICES - 3.54%
3,304		Acadia Realty Trust		85,739
2,209	e*	Affiliated Managers Group, Inc		284,431
4,346	e*	Affordable Residential Communities LP		51,370
783	e	Agree Realty Corp		24,469
4,079	e	Alesco Financial, Inc		33,162
159	e*	Alexander's, Inc		64,276
2,082		Alexandria Real Estate Equities, Inc		201,579
11,068	e	Allied Capital Corp		342,665
7,234		AMB Property Corp		384,993
1,847	e	American Campus Communities, Inc		52,252
8,669		American Financial Realty Trust		89,464
3,539	e	American Home Mortgage Investment Corp		65,047
18,881	e	Annaly Mortgage Management, Inc		272,264
4,436		Anthracite Capital, Inc		51,901
4,167		Anworth Mortgage Asset Corp		37,711
7,162	e	Apartment Investment & Management Co (Class A)		361,108
8,110	e	Apollo Investment Corp		174,527
583		Arbor Realty Trust, Inc		15,047
15,986		Archstone-Smith Trust		944,932
6,698	e	Ashford Hospitality Trust, Inc		78,768
1,112		Associated Estates Realty Corp		17,336
5,606		AvalonBay Communities, Inc		666,441
4,267		BioMed Realty Trust, Inc		107,187
7,449		Boston Properties, Inc		760,766
6,374	e	Brandywine Realty Trust		182,169
3,781		BRE Properties, Inc (Class A)		224,175
514	e	BRT Realty Trust		13,369
4,080		Camden Property Trust		273,238
2,045	e	Capital Lease Funding, Inc		21,984
190	e	Capital Southwest Corp		29,600
1,313	e	Capital Trust, Inc (Class A)		44,826
4,836		CBL & Associates Properties, Inc		174,338
1,530	e	CBRE Realty Finance, Inc		18,192
2,657	e	Cedar Shopping Centers, Inc		38,128

118

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
484	e	Cherokee, Inc	$	17,685
3,498		Colonial Properties Trust		127,502
878	e	Compass Diversified Trust		15,655
2,530	e	Corporate Office Properties Trust		103,755
2,816		Cousins Properties, Inc		81,692
5,643	e	Crescent Real Estate Equities Co		126,629
1,806	e	Crystal River Capital, Inc		43,850
12,020	e	DCT Industrial Trust, Inc		129,335
3,468		Deerfield Triarc Capital Corp		50,737
8,394		Developers Diversified Realty Corp		442,448
6,775		DiamondRock Hospitality Co		129,267
3,858		Digital Realty Trust, Inc		145,369
6,847	e	Douglas Emmett, Inc		169,395
10,026		Duke Realty Corp		357,627
1,703	e	EastGroup Properties, Inc		74,625
1,434	e	Education Realty Trust, Inc		20,119
2,127	e	Entertainment Properties Trust		114,390
3,690	e	Equity Inns, Inc		82,656
1,768	e	Equity Lifestyle Properties, Inc		92,272
2,960	e	Equity One, Inc		75,628
21,143		Equity Residential		964,755
1,774	e	Essex Property Trust, Inc		206,316
4,460	e	Extra Space Storage, Inc		73,590
4,190	e	Federal Realty Investment Trust		323,719
4,582		FelCor Lodging Trust, Inc		119,269
3,613	e	First Industrial Realty Trust, Inc		140,040
1,281	e	First Potomac Realty Trust		29,834
4,433	e	Franklin Street Properties Corp		73,322
13,411	e	Friedman Billings Ramsey Group, Inc (Class A)		73,224
15,187	e	General Growth Properties, Inc		804,152
1,384	e	Getty Realty Corp		36,372
631	e	Gladstone Capital Corp		13,541
2,416	e	Glimcher Realty Trust		60,400
2,980	e	GMH Communities Trust		28,876
1,095	e	Gramercy Capital Corp		30,156
14,306		Health Care Property Investors, Inc		413,873
5,040		Health Care REIT, Inc		203,414
3,074	e	Healthcare Realty Trust, Inc		85,396
4,843	e	Hersha Hospitality Trust		57,244
2,150	*	HFF, Inc (Class A)		33,347
5,957		Highland Hospitality Corp		114,374
3,878	e	Highwoods Properties, Inc		145,425
2,611		Home Properties, Inc		135,589
7,071	e	Hospitality Properties Trust		293,376
38,243		Host Marriott Corp		884,178
14,566		HRPT Properties Trust		151,486
7,504	e	IMPAC Mortgage Holdings, Inc		34,593
5,374	e	Inland Real Estate Corp		91,251
3,130		Innkeepers U.S.A. Trust		55,495
3,321		Investors Real Estate Trust		34,306
191,600		iShares Russell 3000 Index Fund		16,674,948
9,075	e	iStar Financial, Inc		402,295
3,764	e*	Jamba, Inc		34,403
1,554	e	JER Investors Trust, Inc		23,310

119

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,449	e	Kilroy Realty Corp	$	173,487
15,603		Kimco Realty Corp		594,006
2,360		Kite Realty Group Trust		44,887
2,948	e	LaSalle Hotel Properties		128,002
4,865		Lexington Corporate Properties Trust		101,192
6,696	e	Liberty Property Trust		294,155
1,903	e	LTC Properties, Inc		43,293
4,317	e	Luminent Mortgage Capital, Inc		43,559
5,204	e	Macerich Co		428,914
4,461		Mack-Cali Realty Corp		194,009
2,728		Maguire Properties, Inc		93,652
2,665	e	Medical Properties Trust, Inc		35,258
8,541		MFA Mortgage Investments, Inc		62,178
2,242		Mid-America Apartment Communities, Inc		117,660
1,462	e	Mission West Properties, Inc		20,380
1,200		MVC Capital, Inc		22,572
1,805	e	National Health Investors, Inc		57,255
4,727		National Retail Properties, Inc		103,332
6,297		Nationwide Health Properties, Inc		171,278
2,998	e	Newcastle Investment Corp		75,160
3,016	e*	NexCen Brands, Inc		33,598
5,372		NorthStar Realty Finance Corp		67,204
3,719	e	Novastar Financial, Inc		25,959
4,883		Omega Healthcare Investors, Inc		77,298
1,053	e	Parkway Properties, Inc		50,576
1,437	e	PennantPark Investment Corp		20,175
2,347		Pennsylvania Real Estate Investment Trust		104,043
12,840		Plum Creek Timber Co, Inc		534,914
3,291		Post Properties, Inc		171,560
3,023	e	Potlatch Corp		130,140
18,003		Prologis		1,024,371
1,446		Prospect Capital Corp		25,262
1,279		PS Business Parks, Inc		81,050
8,854		Public Storage, Inc		680,164
1,164	e*	Quadra Realty Trust, Inc		14,562
4,896	e	RAIT Investment Trust		127,394
1,853	e	Ramco-Gershenson Properties		66,578
6,762		Realty Income Corp		170,335
1,525		Redwood Trust, Inc		73,780
5,016		Regency Centers Corp		353,628
1,640	e	Republic Property Trust		20,090
2,220	e	Resource Capital Corp		31,036
1,224		Saul Centers, Inc		55,508
5,913	e	Senior Housing Properties Trust		120,330
16,025		Simon Property Group, Inc		1,490,966
4,178		SL Green Realty Corp		517,612
1,893		Sovran Self Storage, Inc		91,167
8,065		Spirit Finance Corp		117,426
1,248	e*	Star Maritime Acquisition Corp		15,300
4,940	e	Strategic Hotels & Resorts, Inc		111,101
1,120		Sun Communities, Inc		33,342
4,955	e	Sunstone Hotel Investors, Inc		140,672
2,345	e	Tanger Factory Outlet Centers, Inc		87,820
2,560	e*	Tarragon Corp		21,658

120

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,105		Taubman Centers, Inc	$	203,649
7,658	*	TFS Financial Corp		88,373
9,199		Thornburg Mortgage, Inc		240,830
9,982	e	UDR, Inc		262,527
1,002	e	Universal Health Realty Income Trust		33,367
1,403		Urstadt Biddle Properties, Inc (Class A)		23,865
3,138	e	U-Store-It Trust		51,432
9,979		Ventas, Inc		361,739
21,329		Virgin Media, Inc		519,788
9,646	e	Vornado Realty Trust		1,059,517
3,821	e	Washington Real Estate Investment Trust		129,914
5,601	e	Weingarten Realty Investors		230,201
3,642	*	Winston Hotels, Inc		54,630
2,500		Winthrop Realty Trust		17,275
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		44,201,914
HOTELS AND OTHER LODGING PLACES - 0.52%
1,830	e	Ameristar Casinos, Inc		63,574
1,181	e*	Bluegreen Corp		13,806
3,709		Boyd Gaming Corp		182,446
2,890		Choice Hotels International, Inc		114,213
2,906	*	Gaylord Entertainment Co		155,878
1,619	e*	Great Wolf Resorts, Inc		23,071
27,795		Hilton Hotels Corp		930,332
986	e*	Isle of Capri Casinos, Inc		23,625
7,586	e*	Las Vegas Sands Corp		579,495
1,580	*	Lodgian, Inc		23,747
1,423	e	Marcus Corp		33,810
23,750		Marriott International, Inc (Class A)		1,026,950
8,599	*	MGM Mirage		709,246
610	e*	Monarch Casino & Resort, Inc		16,379
2,408	e*	Morgans Hotel Group Co		58,707
3,091	e	Orient-Express Hotels Ltd (Class A)		165,059
1,237	e*	Riviera Holdings Corp		44,965
15,632		Starwood Hotels & Resorts Worldwide, Inc		1,048,438
3,205	e	Station Casinos, Inc		278,194
2,779	e*	Trump Entertainment Resorts, Inc		34,876
2,226	e*	Vail Resorts, Inc		135,497
13,259	*	Wyndham Worldwide Corp		480,771
3,627	e	Wynn Resorts Ltd		325,306
		TOTAL HOTELS AND OTHER LODGING PLACES		6,468,385
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.80%
524	e	Aaon, Inc		16,689
2,174	e	Actuant Corp (Class A)		137,092
6,714	*	AGCO Corp		291,455
1,826	e	Albany International Corp (Class A)		73,843
1,736	e*	Allis-Chalmers Energy, Inc		39,911
12,677		American Standard Cos, Inc		747,689
496		Ampco-Pittsburgh Corp		19,885
100,485		Applied Materials, Inc		1,996,656
1,755	*	Astec Industries, Inc		74,096
1,774	e*	ASV, Inc		30,655
6,675	*	Asyst Technologies, Inc		48,260

121

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
10,188	*	Axcelis Technologies, Inc	$	66,127
4,800		Black & Decker Corp		423,888
1,195	e	Black Box Corp		49,449
3,167	e*	Blount International, Inc		41,424
3,442	e	Briggs & Stratton Corp		108,630
29,510	*	Brocade Communications Systems, Inc		230,768
5,560	*	Brooks Automation, Inc		100,914
2,667	e	Bucyrus International, Inc (Class A)		188,770
4,503	e	Carlisle Cos, Inc		209,435
1,107	e	Cascade Corp		86,833
46,554		Caterpillar, Inc		3,645,178
4,354		CDW Corp		369,959
6,306	*	Cirrus Logic, Inc		52,340
1,214	*	Columbus McKinnon Corp		39,091
2,309	e*	Cray, Inc		17,618
7,636		Cummins, Inc		772,840
3,255		Curtiss-Wright Corp		151,716
2,621	e*	Cymer, Inc		105,364
16,496		Deere & Co		1,991,727
165,493	*	Dell, Inc		4,724,825
5,077	e	Diebold, Inc		265,019
6,024		Donaldson Co, Inc		214,153
14,855		Dover Corp		759,833
6,235	e*	Dresser-Rand Group, Inc		246,283
1,925	e*	Dril-Quip, Inc		86,529
3,690	*	Electronics for Imaging, Inc		104,132
152,523	*	EMC Corp		2,760,666
6,226	e*	Emulex Corp		135,976
2,000	*	ENGlobal Corp		24,300
1,365	e*	EnPro Industries, Inc		58,408
9,368	e*	Entegris, Inc		111,292
7,219	e*	Extreme Networks, Inc		29,237
668	e*	Flotek Industries, Inc		40,047
2,741	e*	Flow International Corp		34,537
4,080		Flowserve Corp		292,128
4,726	*	FMC Technologies, Inc		374,394
1,264	e*	Fuel Tech, Inc		43,292
4,098	*	Gardner Denver, Inc		174,370
25,134	e*	Gateway, Inc		39,963
647	*	Gehl Co		19,643
747,876	d	General Electric Co		28,628,693
2,719	e*	Goodman Global, Inc		60,416
591	e	Gorman-Rupp Co		18,829
5,188		Graco, Inc		208,973
9,274	*	Grant Prideco, Inc		499,219
800		Hardinge, Inc		27,224
194,564		Hewlett-Packard Co		8,681,446
397	*	Hurco Cos, Inc		19,842
5,713	e	IDEX Corp		220,179
1,919	e*	Immersion Corp		28,747
21,232		Ingersoll-Rand Co Ltd (Class A)		1,163,938
4,409	e*	Intermec, Inc		111,592
107,940		International Business Machines Corp		11,360,685
24,179		International Game Technology		959,906

122

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,352	*	Intevac, Inc	$	50,004
12,911	e	Jabil Circuit, Inc		284,946
7,892		Joy Global, Inc		460,340
921	*	Kadant, Inc		28,735
1,994	e	Kaydon Corp		103,927
2,828		Kennametal, Inc		231,981
2,093	e*	Komag, Inc		66,746
4,096	*	Kulicke & Soffa Industries, Inc		42,885
9,823	*	Lam Research Corp		504,902
4,105		Lennox International, Inc		140,514
6,886	*	Lexmark International, Inc (Class A)		339,549
832	e	Lindsay Manufacturing Co		36,849
1,012		Lufkin Industries, Inc		65,325
4,461		Manitowoc Co, Inc		358,575
2,695	*	Micros Systems, Inc		146,608
806	e*	Middleby Corp		48,215
2,202		Modine Manufacturing Co		49,765
407		Nacco Industries, Inc (Class A)		63,284
1,277	*	NATCO Group, Inc (Class A)		58,793
2,509	e*	Netgear, Inc		90,951
2,745		Nordson Corp		137,689
3,756	*	Oil States International, Inc		155,273
9,195		Pall Corp		422,878
7,886		Palm, Inc		126,255
9,892	e*	Quantum Corp		31,358
2,563	e*	Rackable Systems, Inc		31,679
2,125	*	RBC Bearings, Inc		87,656
749	*	Rimage Corp		23,661
1,427	e*	Riverbed Technology, Inc		62,531
1,027		Robbins & Myers, Inc		54,565
11,466		Rockwell Automation, Inc		796,199
8,149	e*	Safeguard Scientifics, Inc		22,899
16,591	*	SanDisk Corp		811,964
801	e	Sauer-Danfoss, Inc		23,838
1,906	e*	Scansource, Inc		60,973
4,426	e*	Scientific Games Corp (Class A)		154,689
39,515		Seagate Technology, Inc		860,242
861	e*	Semitool, Inc		8,274
2,037	e*	Sigma Designs, Inc		53,145
64,964	e*	Solectron Corp		239,068
9,117	e*	SourceForge, Inc		38,474
4,139		SPX Corp		363,446
908		Standex International Corp		25,824
2,311	e*	STEC, Inc		14,860
405	*	T-3 Energy Services, Inc		13,547
3,438	e*	Tecumseh Products Co (Class A)		54,011
1,122		Tennant Co		40,953
7,606	*	Terex Corp		618,368
6,591		Timken Co		238,001
2,921		Toro Co		172,018
1,259	*	TurboChef Technologies, Inc		17,525
334	e	Twin Disc, Inc		24,018
1,844	e*	Ultratech, Inc		24,581
9,388	*	Varian Medical Systems, Inc		399,084

123

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,504	e*	VeriFone Holdings, Inc	$	158,766
1,876		Watsco, Inc		102,054
16,275	*	Western Digital Corp		314,921
2,409		Woodward Governor Co		129,291
5,840	*	Zebra Technologies Corp (Class A)		226,242
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		84,970,732
INSTRUMENTS AND RELATED PRODUCTS - 4.16%
1,448	e*	Abaxis, Inc		30,205
1,257	e*	Abiomed, Inc		13,550
1,460	*	Accuray, Inc		32,383
4,345	e*	Advanced Medical Optics, Inc		151,554
4,623	e*	Affymetrix, Inc		115,066
29,387	*	Agilent Technologies, Inc		1,129,674
3,888	e*	Align Technology, Inc		93,934
22,184		Allergan, Inc		1,278,686
5,289	e*	American Medical Systems Holdings, Inc		95,414
531	e*	American Science & Engineering, Inc		30,187
1,240		Analogic Corp		91,152
1,598	*	Anaren, Inc		28,141
809	e*	Angiodynamics, Inc		14,570
13,525		Applera Corp (Applied Biosystems Group)		413,054
929	e*	Argon ST, Inc		21,562
2,331	*	Armor Holdings, Inc		202,494
2,044		Arrow International, Inc		78,244
1,986	e*	Arthrocare Corp		87,205
1,064	e*	Aspect Medical Systems, Inc		15,917
710	e	Badger Meter, Inc		20,065
7,526		Bard (C.R.), Inc		621,873
4,077	e	Bausch & Lomb, Inc		283,107
47,363		Baxter International, Inc		2,668,431
4,496	e	Beckman Coulter, Inc		290,801
17,804		Becton Dickinson & Co		1,326,398
17,969		Biomet, Inc		821,543
1,259	*	Bio-Rad Laboratories, Inc (Class A)		95,143
1,277	*	Biosite, Inc		118,110
96,819	*	Boston Scientific Corp		1,485,203
4,735	*	Bruker BioSciences Corp		42,662
845	*	Cantel Medical Corp		14,373
6,208	e*	Cepheid, Inc		90,637
1,956	e*	Coherent, Inc		59,678
1,401	e	Cohu, Inc		31,172
2,009	*	Conmed Corp		58,824
3,217	e	Cooper Cos, Inc		171,530
11,551	e*	Credence Systems Corp		41,584
985	e*	Cutera, Inc		24,546
1,364	e*	Cyberonics, Inc		22,942
565	*	Cynosure, Inc (Class A)		20,583
17,789	e	Danaher Corp		1,343,070
993		Datascope Corp		38,012
11,231	e	Dentsply International, Inc		429,698
1,435	e*	Dionex Corp		101,871
1,394	e*	DJ Orthopedics, Inc		57,530
2,961		DRS Technologies, Inc		169,576

124

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
890	*	Eagle Test Systems, Inc	$	14,293
20,668	e	Eastman Kodak Co		575,190
1,328	e	EDO Corp		43,651
57,807		Emerson Electric Co		2,705,368
1,677	e*	ESCO Technologies, Inc		60,808
2,236	e*	Esterline Technologies Corp		108,021
1,127	e*	ev3, Inc		19,024
900	*	Excel Technology, Inc		25,146
1,082	e*	FARO Technologies, Inc		34,473
2,562	e*	FEI Co		83,163
4,773	e*	Flir Systems, Inc		220,751
3,441	e*	Formfactor, Inc		131,790
3,552	e*	Fossil, Inc		104,748
1,142	e*	Foxhollow Technologies, Inc		24,256
1,829	*	Haemonetics Corp		96,224
3,913	*	Hologic, Inc		216,428
803	e*	ICU Medical, Inc		34,481
1,409	e*	I-Flow Corp		23,587
1,718	e*	II-VI, Inc		46,678
4,350	e*	Illumina, Inc		176,567
4,770	e*	Input/Output, Inc		74,460
1,167	*	Integra LifeSciences Holdings Corp		57,673
2,761	e*	Intuitive Surgical, Inc		383,144
1,833	e	Invacare Corp		33,599
2,816	e*	Ionatron, Inc		10,982
2,184	e*	Itron, Inc		170,221
2,349	*	Ixia		21,752
210,559		Johnson & Johnson		12,974,707
730	e*	Kensey Nash Corp		19,571
13,932		Kla-Tencor Corp		765,563
3,565	e*	Kyphon, Inc		171,655
4,294	e*	L-1 Identity Solutions, Inc		87,812
4,707	e*	LTX Corp		26,171
708	e*	Measurement Specialties, Inc		16,765
911	e*	Medical Action Industries, Inc		16,453
83,618		Medtronic, Inc		4,336,429
2,664	e	Mentor Corp		108,372
1,974	*	Merit Medical Systems, Inc		23,609
2,916	*	Mettler-Toledo International, Inc		278,507
1,111	*	Micrus Endovascular Corp		27,331
3,963	e*	Millipore Corp		297,582
2,677	e	Mine Safety Appliances Co		117,146
3,655	*	MKS Instruments, Inc		101,244
1,160		Movado Group, Inc		39,138
1,493		MTS Systems Corp		66,692
4,144	e	National Instruments Corp		134,970
1,239	e*	Natus Medical, Inc		19,725
3,159	e*	Newport Corp		48,901
1,400	*	Northstar Neuroscience, Inc		16,282
2,232	e*	NuVasive, Inc		60,286
1,473	e*	NxStage Medical, Inc		19,046
1,339	e	Oakley, Inc		38,028
1,201	e*	Orthofix International NV		54,009
258	e*	OYO Geospace Corp		19,141

125

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,095	e*	Palomar Medical Technologies, Inc	$	38,007
9,062		PerkinElmer, Inc		236,182
15,972	e	Pitney Bowes, Inc		747,809
2,614	e	PolyMedica Corp		106,782
5,536	e*	Resmed, Inc		228,415
5,652	*	Respironics, Inc		240,719
12,172		Rockwell Collins, Inc		859,830
947	*	Rofin-Sinar Technologies, Inc		65,343
6,271		Roper Industries, Inc		358,074
1,888	e*	Rudolph Technologies, Inc		31,360
4,174	e*	Sirf Technology Holdings, Inc		86,569
1,128	e*	Sirona Dental Systems, Inc		42,672
1,949	e*	Sonic Innovations, Inc		17,054
1,326	e*	Sonic Solutions, Inc		16,721
1,231	e*	SonoSite, Inc		38,690
2,046	e*	Spectranetics Corp		23,570
24,591	*	St. Jude Medical, Inc		1,020,281
5,379		STERIS Corp		164,597
22,067	e	Stryker Corp		1,392,207
2,328	e*	Symmetry Medical, Inc		37,271
3,374	*	Techne Corp		193,027
6,529		Tektronix, Inc		220,288
2,554	*	Teledyne Technologies, Inc		117,356
13,384	*	Teradyne, Inc		235,291
30,666	*	Thermo Electron Corp		1,586,046
3,898	e*	Thoratec Corp		71,684
9,094	e*	Trimble Navigation Ltd		292,827
569	e	United Industrial Corp		34,129
2,096	*	Varian, Inc		114,924
1,843	e*	Veeco Instruments, Inc		38,224
2,151	e*	Ventana Medical Systems, Inc		166,208
1,742	e*	Vital Images, Inc		47,313
832		Vital Signs, Inc		46,218
4,143	e*	Vivus, Inc		21,668
1,746	*	Volcano Corp		35,287
7,342	*	Waters Corp		435,821
2,172	*	Wright Medical Group, Inc		52,389
68,144	*	Xerox Corp		1,259,301
1,511	*	X-Rite, Inc		22,317
17,215	*	Zimmer Holdings, Inc		1,461,381
1,434	*	Zoll Medical Corp		31,993
1,229	*	Zygo Corp		17,562
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		52,006,974
INSURANCE AGENTS, BROKERS AND SERVICE - 0.45%
21,345		AON Corp		909,510
8,720	e	Brown & Brown, Inc		219,221
1,201	e	Crawford & Co (Class B)		8,119
7,414	e	Gallagher (Arthur J.) & Co		206,702
23,021		Hartford Financial Services Group, Inc		2,267,799
2,857	e	Hilb Rogal & Hobbs Co		122,451
598	e	James River Group, Inc		19,872
40,392		Marsh & McLennan Cos, Inc		1,247,305
2,733	e	National Financial Partners Corp		126,565

126

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,801	*	United America Indemnity Ltd (Class A)	$	44,791
661		White Mountains Insurance Group Ltd		400,579
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		5,572,914
INSURANCE CARRIERS - 4.76%
2,524	e	21st Century Insurance Group		55,175
22,956		ACE Ltd		1,435,209
37,248		Aetna, Inc		1,840,051
35,551		Aflac, Inc		1,827,321
2,413	e	Alfa Corp		37,570
361	e*	Alleghany Corp		146,747
4,395		Allied World Assurance Holdings Ltd		225,244
44,155		Allstate Corp		2,715,974
7,413		Ambac Financial Group, Inc		646,339
3,771	e	American Equity Investment Life Holding Co		45,554
5,978		American Financial Group, Inc		204,149
162,933		American International Group, Inc		11,410,267
1,143		American National Insurance Co		174,422
1,012	*	American Physicians Capital, Inc		40,986
3,835	*	AMERIGROUP Corp		91,273
1,343	*	Amerisafe, Inc		26,363
1,831		Amtrust Financial Services, Inc		34,404
3,696	*	Arch Capital Group Ltd		268,108
3,017	e	Argonaut Group, Inc		94,161
6,388		Aspen Insurance Holdings Ltd		179,311
8,802		Assurant, Inc		518,614
4,931		Assured Guaranty Ltd		145,760
11,175	e	Axis Capital Holdings Ltd		454,264
711		Baldwin & Lyons, Inc (Class B)		18,472
956		Bristol West Holdings, Inc		21,386
3,736	*	Centene Corp		80,025
29,186		Chubb Corp		1,580,130
12,234		Cincinnati Financial Corp		530,956
2,569	e*	Citizens, Inc		18,086
1,739	e	CNA Financial Corp		82,933
1,063	*	CNA Surety Corp		20,101
3,890	e	Commerce Group, Inc		135,061
13,444	e*	Conseco, Inc		280,845
539	*	Darwin Professional Underwriters, Inc		13,567
3,312		Delphi Financial Group, Inc (Class A)		138,508
419	e	Donegal Group, Inc (Class A)		6,243
178		EMC Insurance Group, Inc		4,418
4,260		Employers Holdings, Inc		90,482
4,257	e	Endurance Specialty Holdings Ltd		170,450
506	e*	Enstar Group Ltd		61,079
3,673		Erie Indemnity Co (Class A)		198,489
4,581		Everest Re Group Ltd		497,680
1,117		FBL Financial Group, Inc (Class A)		43,920
15,770		Fidelity National Title Group, Inc (Class A)		373,749
1,688	e*	First Acceptance Corp		17,150
6,438	e	First American Corp		318,681
906	*	First Mercury Financial Corp		18,999
1,033	*	Flagstone Reinsurance Holdings Ltd		13,760
665	e*	Fpic Insurance Group, Inc		27,112

127

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
31,625		Genworth Financial, Inc (Class A)	$	1,087,900
382	e	Great American Financial Resources, Inc		9,241
642	*	Greenlight Capital Re Ltd (Class A)		14,464
3,730	e	Hanover Insurance Group, Inc		181,987
1,021		Harleysville Group, Inc		34,061
8,141	e	HCC Insurance Holdings, Inc		271,991
8,153	*	Health Net, Inc		430,478
1,824	e*	HealthExtras, Inc		53,954
3,465	*	Healthspring, Inc		66,043
2,772		Horace Mann Educators Corp		58,877
12,304	*	Humana, Inc		749,437
477	e	Independence Holding Co		9,745
1,955		Infinity Property & Casualty Corp		99,177
4,642		IPC Holdings Ltd		149,890
246		Kansas City Life Insurance Co		11,444
1,241	e	LandAmerica Financial Group, Inc		119,744
11,900	e	Leucadia National Corp		419,475
19,690		Lincoln National Corp		1,397,006
31,670		Loews Corp		1,614,537
734	*	Markel Corp		355,667
4,401		Max Re Capital Ltd		124,548
9,518	e	MBIA, Inc		592,210
1,740	*	Meadowbrook Insurance Group, Inc		19,070
2,119	e	Mercury General Corp		116,778
34,281		Metlife, Inc		2,210,439
5,996	e	MGIC Investment Corp		340,933
655	e	Midland Co		30,746
747	e*	Molina Healthcare, Inc		22,798
8,145	e	Montpelier Re Holdings Ltd		151,008
1,070	e	National Interstate Corp		27,906
147		National Western Life Insurance Co (Class A)		37,179
3,844	e	Nationwide Financial Services, Inc (Class A)		243,018
840	*	Navigators Group, Inc		45,276
393	e	NYMAGIC, Inc		15,799
1,911	e	Odyssey Re Holdings Corp		81,963
4,500		Ohio Casualty Corp		194,895
16,817		Old Republic International Corp		357,529
2,079		OneBeacon Insurance Group Ltd		52,661
4,132		PartnerRe Ltd		320,230
4,191	e*	Philadelphia Consolidated Holding Co		175,184
8,285		Phoenix Cos, Inc		124,358
4,348		Platinum Underwriters Holdings Ltd		151,093
2,758	*	PMA Capital Corp (Class A)		29,483
6,414	e	PMI Group, Inc		286,513
1,376		Presidential Life Corp		27,052
3,319	e*	Primus Guaranty Ltd		35,580
19,460		Principal Financial Group		1,134,323
2,295	*	ProAssurance Corp		127,763
53,522		Progressive Corp		1,280,781
5,164		Protective Life Corp		246,891
33,668		Prudential Financial, Inc		3,273,540
4,311	*	PXRE Group Ltd		20,003
5,928	e	Radian Group, Inc		320,112
1,314	*	RAM Holdings Ltd		20,696

128

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,042	e	Reinsurance Group Of America, Inc	$	123,010
5,249		RenaissanceRe Holdings Ltd		325,386
1,621	e	RLI Corp		90,695
7,717		Safeco Corp		480,460
876		Safety Insurance Group, Inc		36,266
4,855		Scottish Re Group Ltd		23,741
1,144	*	SeaBright Insurance Holdings, Inc		19,997
1,745		Security Capital Assurance Ltd		53,868
4,248		Selective Insurance Group, Inc		114,186
4,232		Stancorp Financial Group, Inc		222,095
2,075	e	State Auto Financial Corp		63,599
1,175		Stewart Information Services Corp		46,800
6,939		Torchmark Corp		464,913
1,072		Tower Group, Inc		34,197
2,017		Transatlantic Holdings, Inc		143,469
48,267		Travelers Cos, Inc/The		2,582,285
737	e*	Triad Guaranty, Inc		29,428
1,260	e	United Fire & Casualty Co		44,579
97,417		UnitedHealth Group, Inc		4,981,905
3,532	e	Unitrin, Inc		173,704
2,245	*	Universal American Financial Corp		47,774
24,619		UnumProvident Corp		642,802
12,543		W.R. Berkley Corp		408,149
2,856	*	WellCare Health Plans, Inc		258,497
117	e	Wesco Financial Corp		45,045
12,967		XL Capital Ltd (Class A)		1,092,988
3,038		Zenith National Insurance Corp		143,059
		TOTAL INSURANCE CARRIERS		59,445,921
JUSTICE, PUBLIC ORDER AND SAFETY - 0.03%
4,456	*	Corrections Corp of America		281,218
3,930	e*	Geo Group, Inc		114,363
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		395,581
LEATHER AND LEATHER PRODUCTS - 0.16%
26,983	*	Coach, Inc		1,278,724
5,759	e*	CROCS, Inc		247,810
1,742	e*	Genesco, Inc		91,124
3,936	e*	Iconix Brand Group, Inc		87,458
1,492		Steven Madden Ltd		48,878
3,526	*	Timberland Co (Class A)		88,820
334	e	Weyco Group, Inc		8,995
4,349		Wolverine World Wide, Inc		120,511
		TOTAL LEATHER AND LEATHER PRODUCTS		1,972,320
LEGAL SERVICES - 0.01%
3,361	*	FTI Consulting, Inc		127,819
651	e*	Pre-Paid Legal Services, Inc		41,866
		TOTAL LEGAL SERVICES		169,685
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.02%
670	e*	Emergency Medical Services Corp (Class A)		26,217
6,056		Laidlaw International, Inc		209,235
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		235,452

129

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
LUMBER AND WOOD PRODUCTS - 0.03%
640	e	American Woodmark Corp	$	22,144
6,272	e*	Champion Enterprises, Inc		61,654
793	e	Deltic Timber Corp		43,472
6,940	e	Louisiana-Pacific Corp		131,305
508	e	Skyline Corp		15,245
1,139	e	Universal Forest Products, Inc		48,134
		TOTAL LUMBER AND WOOD PRODUCTS		321,954
METAL MINING - 0.39%
4,258	*	Apex Silver Mines Ltd		85,926
2,989	e	Cleveland-Cliffs, Inc		232,156
21,244	e*	Coeur d'Alene Mines Corp		76,266
3,072	e	Foundation Coal Holdings, Inc		124,846
27,714		Freeport-McMoRan Copper & Gold, Inc (Class B)		2,295,273
10,241	e*	Hecla Mining Co		87,458
3,455	e*	Idaho General Mines, Inc		21,905
30,930		Newmont Mining Corp		1,208,126
3,490	e*	Rosetta Resources, Inc		75,175
1,455	e	Royal Gold, Inc		34,585
5,042	e	Southern Copper Corp		475,259
3,801	e*	Stillwater Mining Co		41,849
3,788	*	Uranium Resources, Inc		41,782
3,428	*	US Gold Corp		18,854
		TOTAL METAL MINING		4,819,460
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.59%
1,067	*	Armstrong World Industries, Inc		53,510
1,955		Blyth, Inc		51,964
4,917	e	Callaway Golf Co		87,572
3,000	e	Daktronics, Inc		64,440
11,091		Fortune Brands, Inc		913,566
11,587		Hasbro, Inc		363,948
2,532	e*	Jakks Pacific, Inc		71,250
3,166	e*	K2, Inc		48,092
396	e	Marine Products Corp		3,259
28,599		Mattel, Inc		723,269
1,989	e	Nautilus, Inc		23,948
1,490	*	RC2 Corp		59,615
634	*	Russ Berrie & Co, Inc		11,811
3,210	e*	Shuffle Master, Inc		53,286
569		Steinway Musical Instruments, Inc		19,682
143,572	*	Tyco International Ltd		4,851,298
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		7,400,510
MISCELLANEOUS RETAIL - 1.33%
2,238	e*	1-800-FLOWERS.COM, Inc (Class A)		21,104
973	e*	AC Moore Arts & Crafts, Inc		19,081
22,209	*	Amazon.com, Inc		1,519,318
3,469	e	Barnes & Noble, Inc		133,452
28,775		Best Buy Co, Inc		1,342,929
1,344	e	Big 5 Sporting Goods Corp		34,272
896	e*	Blue Nile, Inc		54,118

130

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
963	e	Books-A-Million, Inc	$	16,313
4,275	e	Borders Group, Inc		81,482
918	e*	Build-A-Bear Workshop, Inc		23,997
2,005		Cash America International, Inc		79,498
3,455	e*	CKX, Inc		47,748
4,691	e*	Coldwater Creek, Inc		108,972
113,345		CVS Corp		4,131,425
2,700	e*	Dick's Sporting Goods, Inc		157,059
7,089	e*	Dollar Tree Stores, Inc		308,726
2,427	*	Ezcorp, Inc (Class A)		32,133
2,096	e*	GSI Commerce, Inc		47,600
2,889	e*	Hibbett Sports, Inc		79,101
2,385		Longs Drug Stores Corp		125,260
3,171		MSC Industrial Direct Co (Class A)		174,405
2,490	e*	Nutri/System, Inc		173,902
19,988	*	Office Depot, Inc		605,636
5,442	e	OfficeMax, Inc		213,871
2,357	*	Overstock.com, Inc		43,062
9,871		Petsmart, Inc		320,314
2,748	*	Priceline.com, Inc		188,898
963	e	Pricesmart, Inc		23,815
33,869	e*	Rite Aid Corp		216,084
5,869	*	Sears Holdings Corp		994,796
1,063	*	Shutterfly, Inc		22,908
1,216	e*	Stamps.com, Inc		16,756
51,986		Staples, Inc		1,233,628
1,129		Systemax, Inc		23,494
9,911		Tiffany & Co		525,878
1,657	e*	Valuevision International, Inc (Class A)		18,757
72,496		Walgreen Co		3,156,476
2,077	e	World Fuel Services Corp		87,359
3,965	e*	Zale Corp		94,407
1,933	e*	Zumiez, Inc		73,029
		TOTAL MISCELLANEOUS RETAIL		16,571,063
MOTION PICTURES - 1.13%
3,122	e*	Avid Technology, Inc		110,363
15,402	e*	Blockbuster, Inc (Class A)		66,383
633	e	Carmike Cinemas, Inc		13,901
46,686		CBS Corp (Class B)		1,555,578
2,032	e*	Cinemark Holdings Inc		36,352
20,487	e*	Discovery Holding Co (Class A)		470,996
4,801	*	DreamWorks Animation SKG, Inc (Class A)		138,461
1,062	e*	Gaiam, Inc (Class A)		19,360
3,874	e*	Macrovision Corp		116,452
3,000	e*	National CineMedia, Inc		84,030
166,237		News Corp (Class A)		3,525,887
5,222	e	Regal Entertainment Group (Class A)		114,518
11,027	e*	Time Warner Telecom, Inc (Class A)		221,643
273,790		Time Warner, Inc		5,760,542
44,290	*	Viacom, Inc (Class B)		1,843,793
		TOTAL MOTION PICTURES		14,078,259

131

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS - 0.00%**
2,131	e*	Premier Exhibitions, Inc	$	33,585
		TOTAL MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS		33,585
NONDEPOSITORY INSTITUTIONS - 1.76%
1,451	e*	Accredited Home Lenders Holding Co		19,835
4,721	e	Advance America Cash Advance Centers, Inc		83,751
2,678		Advanta Corp (Class B)		83,393
11,313	e	American Capital Strategies Ltd		481,029
75,281		American Express Co		4,605,692
8,492	e*	AmeriCredit Corp		225,463
4,377	e	Ares Capital Corp		73,752
768	e	Asta Funding, Inc		29,514
10,699		Broadridge Financial Solutions, Inc		204,565
30,210		Capital One Financial Corp		2,369,672
6,598	e	CapitalSource, Inc		162,245
3,539	e	Centerline Holding Co		63,702
13,943		CIT Group, Inc		764,495
1,560	e*	CompuCredit Corp		54,631
43,146		Countrywide Financial Corp		1,568,357
639	e*	Credit Acceptance Corp		17,144
1,204		Delta Financial Corp		14,773
1,148	e*	Encore Capital Group, Inc		14,327
1,662	e*	Energy Infrastructure Acquisition Corp		16,221
70,731		Fannie Mae		4,620,856
556	e	Federal Agricultural Mortgage Corp (Class C)		19,026
1,638	e	Financial Federal Corp		48,845
1,940	*	First Cash Financial Services, Inc		45,474
4,281	e	First Marblehead Corp		165,418
48,088		Freddie Mac		2,918,942
3,730	e*	Freedom Acquisition Holding, Inc		41,067
1,694	e	Hercules Technology Growth Capital, Inc		22,886
2,303	e*	Information Services Group, Inc		17,618
5,000	e*	INVESTools, Inc		49,800
1,200		Kohlberg Capital Corp		22,260
2,739	*	Marathon Acquisition Corp		21,583
3,841	e	MCG Capital Corp		61,533
1,264		Nelnet, Inc (Class A)		30,892
965	*	NewStar Financial, Inc		13,732
1,077	e	NGP Capital Resources Co		18,007
1,850	e*	NTR Acquisition Co		17,520
2,663	e*	Ocwen Financial Corp		35,498
1,325	e	Patriot Capital Funding, Inc		19,676
3,898	e*	PHH Corp		121,657
29,909		SLM Corp		1,722,160
293		Student Loan Corp		59,743
1,553	e	Technology Investment Capital Corp		24,522
9,062		Textron, Inc		997,817
1,438	e*	World Acceptance Corp		61,446
		TOTAL NONDEPOSITORY INSTITUTIONS		22,030,539

132

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
NONMETALLIC MINERALS, EXCEPT FUELS - 0.09%
1,401	e	AMCOL International Corp	$	38,261
2,169	e	Compass Minerals International, Inc		75,178
3,638	e	Florida Rock Industries, Inc		245,565
6,970	e	Vulcan Materials Co		798,344
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		1,157,348
OIL AND GAS EXTRACTION - 3.00%
33,731		Anadarko Petroleum Corp		1,753,675
169	e	APCO Argentina, Inc		14,350
982	e*	Arena Resources, Inc		57,064
1,983	e	Atlas America, Inc		106,547
1,404	e*	ATP Oil & Gas Corp		68,291
2,134	e*	Atwood Oceanics, Inc		146,435
23,282		Baker Hughes, Inc		1,958,715
2,980	e*	Basic Energy Services, Inc		76,199
2,821	e	Berry Petroleum Co (Class A)		106,295
1,923	e*	Bill Barrett Corp		70,824
21,404		BJ Services Co		608,730
908	e*	Bois d'Arc Energy, Inc		15,463
2,504	e*	Brigham Exploration Co		14,698
1,640	e*	Bronco Drilling Co, Inc		26,912
2,440	e*	Cal Dive International, Inc		40,577
1,203	*	Callon Petroleum Co		17,047
8,003	*	Cameron International Corp		571,974
1,637	e*	Carrizo Oil & Gas, Inc		67,886
3,680	e*	Cheniere Energy, Inc		142,747
31,912	e	Chesapeake Energy Corp		1,104,155
6,300	e	Cimarex Energy Co		248,283
312	*	Clayton Williams Energy, Inc		8,259
1,874	e*	CNX Gas Corp		57,344
2,861	*	Complete Production Services, Inc		73,957
3,003	e*	Comstock Resources, Inc		90,000
964	*	Contango Oil & Gas Co		34,984
1,989	*	Continental Resources, Inc		31,824
1,216	*	Dawson Geophysical Co		74,735
5,147	e*	Delta Petroleum Corp		103,352
9,100	e*	Denbury Resources, Inc		341,250
4,783	e	Diamond Offshore Drilling, Inc		485,761
3,861	e*	Edge Petroleum Corp		54,093
3,566	*	Encore Acquisition Co		99,135
2,414	*	Energy Partners Ltd		40,290
10,829	e	ENSCO International, Inc		660,677
8,562		Equitable Resources, Inc		424,333
4,313	e*	EXCO Resources, Inc		75,219
5,241	e*	Forest Oil Corp		221,485
2,564	e*	FX Energy, Inc		23,461
5,057	e*	GeoGlobal Resources, Inc		25,740
504	*	Geokinetics, Inc		15,639
6,541	*	Global Industries Ltd		175,430
16,579	e	GlobalSantaFe Corp		1,197,833
1,138	e*	GMX Resources, Inc		39,375
1,299	e*	Goodrich Petroleum Corp		44,984
13,526	e*	Grey Wolf, Inc		111,454
1,426	e*	Gulfport Energy Corp		28,491

133

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
66,443		Halliburton Co	$	2,292,284
6,752	e*	Hanover Compressor Co		161,035
3,621	e*	Harvest Natural Resources, Inc		43,126
6,635	e*	Helix Energy Solutions Group, Inc		264,803
7,514	e	Helmerich & Payne, Inc		266,146
2,144	e*	Hercules Offshore, Inc		69,423
2,382	*	Horizon Offshore, Inc		45,734
710		Kayne Anderson Energy Development Co		17,878
5,601	e*	Mariner Energy, Inc		135,824
3,931	e*	McMoRan Exploration Co		55,034
9,213	*	Meridian Resource Corp		27,823
19,508	*	Nabors Industries Ltd		651,177
12,979	*	National Oilwell Varco, Inc		1,352,931
4,959	e*	Newpark Resources, Inc		38,432
9,470		Noble Corp		923,514
3,977	*	Oceaneering International, Inc		209,349
7,672	*	Oilsands Quest, Inc		18,950
2,451	e*	Parallel Petroleum Corp		53,677
8,740	*	Parker Drilling Co		92,120
11,849	e	Patterson-UTI Energy, Inc		310,562
2,734		Penn Virginia Corp		109,907
416	m,v*	PetroCorp		0
12,310	e*	PetroHawk Energy Corp		195,237
1,132	*	Petroleum Development Corp		53,747
3,247	e*	Petroquest Energy, Inc		47,211
4,643	*	Pioneer Drilling Co		69,227
9,107	e	Pioneer Natural Resources Co		443,602
5,383	*	Plains Exploration & Production Co		257,361
4,170	e	Pogo Producing Co		211,794
11,659	*	Pride International, Inc		436,746
3,651	e*	Quicksilver Resources, Inc		162,762
10,034		Range Resources Corp		375,372
7,742		Rowan Cos, Inc		317,267
2,562	e	RPC, Inc		43,656
85,334		Schlumberger Ltd		7,248,270
1,757	*	SEACOR Holdings, Inc		164,034
14,564	e	Smith International, Inc		854,033
12,078	*	Southwestern Energy Co		537,471
4,851	e	St. Mary Land & Exploration Co		177,644
1,776	*	Stone Energy Corp		60,879
2,598	e*	Sulphco, Inc		9,379
5,918	*	Superior Energy Services		236,247
731	*	Superior Offshore International, Inc		13,304
728	e*	Superior Well Services, Inc		18,498
1,884	*	Swift Energy Co		80,560
4,861	e*	Tetra Technologies, Inc		137,080
4,184	e	Tidewater, Inc		296,562
4,204	*	Todco		198,471
1,946	*	Toreador Resources Corp		29,190
20,735	*	Transocean, Inc		2,197,495
789	e*	Trico Marine Services, Inc		32,254
3,774	e*	TXCO Resources, Inc		38,797
1,041	e*	Union Drilling, Inc		17,093
3,366	*	Unit Corp		211,755

134

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,845	e*	Vaalco Energy, Inc	$	18,571
908	e*	Venoco, Inc		16,952
1,968		W&T Offshore, Inc		55,084
5,521	e*	Warren Resources, Inc		64,485
24,307	*	Weatherford International Ltd		1,342,719
2,390	*	W-H Energy Services, Inc		147,965
2,504	*	Whiting Petroleum Corp		101,462
1,895	*	Willbros Group, Inc		56,244
26,786		XTO Energy, Inc		1,609,839
		TOTAL OIL AND GAS EXTRACTION		37,482,020
PAPER AND ALLIED PRODUCTS - 0.52%
7,609		Bemis Co		252,467
3,630	e	Bowater, Inc		90,569
2,336	*	Buckeye Technologies, Inc		36,138
3,976	e*	Cenveo, Inc		92,203
1,323	e*	Chesapeake Corp		16,630
32,019	*	Domtar Corporation		357,332
3,112	e	Glatfelter		42,292
5,429	e*	Graphic Packaging Corp		26,276
2,411		Greif, Inc (Class A)		143,720
31,660		International Paper Co		1,236,362
33,163		Kimberly-Clark Corp		2,218,273
13,458		MeadWestvaco Corp		475,337
1,721	*	Mercer International, Inc		17,554
1,091	e	Neenah Paper, Inc		45,015
6,178		Packaging Corp of America		156,365
3,785	*	Playtex Products, Inc		56,056
2,148		Rock-Tenn Co (Class A)		68,135
1,100		Schweitzer-Mauduit International, Inc		34,100
18,559	*	Smurfit-Stone Container Corp		247,020
7,272		Sonoco Products Co		311,314
7,697		Temple-Inland, Inc		473,596
3,238	e	Wausau Paper Corp		43,389
		TOTAL PAPER AND ALLIED PRODUCTS		6,440,143
PERSONAL SERVICES - 0.15%
9,846		Cintas Corp		388,228
2,141		Coinmach Service Corp (Class A)		28,325
1,726	e*	Coinstar, Inc		54,334
376		CPI Corp		26,132
2,089	e	G & K Services, Inc (Class A)		82,536
23,462	e	H&R Block, Inc		548,307
2,460	e	Jackson Hewitt Tax Service, Inc		69,151
3,440		Regis Corp		131,580
5,487	e*	Sally Beauty Holdings, Inc		49,383
21,386		Service Corp International		273,313
1,231	*	Steiner Leisure Ltd		60,467
1,120		Unifirst Corp		49,336
2,582	e	Weight Watchers International, Inc		131,269
		TOTAL PERSONAL SERVICES		1,892,361
PETROLEUM AND COAL PRODUCTS - 6.24%
1,047	e	Alon USA Energy, Inc		46,078

135

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
24,066		Apache Corp	$	1,963,545
4,084		Ashland, Inc		261,172
7,178		Cabot Oil & Gas Corp		264,725
156,239		Chevron Corp		13,161,573
118,805		ConocoPhillips		9,326,193
440	e	Delek US Holdings, Inc		11,726
32,350		Devon Energy Corp		2,532,682
17,779		EOG Resources, Inc		1,298,934
409,504		Exxon Mobil Corp		34,349,196
8,001	e	Frontier Oil Corp		350,204
3,218	e*	Headwaters, Inc		55,575
20,111		Hess Corp		1,185,745
3,201		Holly Corp		237,482
49,856		Marathon Oil Corp		2,989,366
13,675		Murphy Oil Corp		812,842
9,557	e*	Newfield Exploration Co		435,321
12,425		Noble Energy, Inc		775,196
60,621		Occidental Petroleum Corp		3,508,743
8,830		Sunoco, Inc		703,574
9,933		Tesoro Corp		567,671
39,910		Valero Energy Corp		2,947,753
1,308		WD-40 Co		42,994
1,978	e	Western Refining, Inc		114,328
		TOTAL PETROLEUM AND COAL PRODUCTS		77,942,618
PIPELINES, EXCEPT NATURAL GAS - 0.10%
45,909		Spectra Energy Corp		1,191,798
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,191,798
PRIMARY METAL INDUSTRIES - 1.06%
8,368	e*	AK Steel Holding Corp		312,712
63,195		Alcoa, Inc		2,561,293
7,426		Allegheny Technologies, Inc		778,839
3,056	e	Belden CDT, Inc		169,150
1,752	e*	Brush Engineered Materials, Inc		73,566
1,904	e	Carpenter Technology Corp		248,110
1,779	e*	Century Aluminum Co		97,187
3,409		Chaparral Steel Co		245,005
625	*	Claymont Steel, Inc		13,369
627	e*	Coleman Cable, Inc		16,214
4,510	*	CommScope, Inc		263,159
114,398	*	Corning, Inc		2,922,869
1,929	e	Encore Wire Corp		56,790
3,795	e*	General Cable Corp		287,471
1,509	e	Gibraltar Industries, Inc		33,424
854	*	Haynes International, Inc		72,103
4,335	e	Hubbell, Inc (Class B)		235,044
689	e*	LB Foster Co (Class A)		19,761
2,004	e	Matthews International Corp (Class A)		87,394
2,587		Mueller Industries, Inc		89,096
639	e*	Northwest Pipe Co		22,729
21,931		Nucor Corp		1,286,253
553		Olympic Steel, Inc		15,849
10,002		Precision Castparts Corp		1,213,843

136

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,691	e	Quanex Corp	$	131,052
1,766	*	RTI International Metals, Inc		133,103
1,339		Schnitzer Steel Industries, Inc (Class A)		64,192
6,898	e	Steel Dynamics, Inc		289,095
1,275	e*	Superior Essex, Inc		47,621
2,048	e	Texas Industries, Inc		160,584
4,971	e*	Titanium Metals Corp		158,575
1,985	e	Tredegar Corp		42,281
8,596		United States Steel Corp		934,815
475	e*	Universal Stainless & Alloy		16,734
601	e*	Wheeling-Pittsburgh Corp		11,437
4,916	e	Worthington Industries, Inc		106,431
		TOTAL PRIMARY METAL INDUSTRIES		13,217,150
PRINTING AND PUBLISHING - 0.61%
3,945	e*	ACCO Brands Corp		90,932
3,989	e	American Greetings Corp (Class A)		113,008
6,671		Belo (A.H.) Corp (Class A)		137,356
2,149		Bowne & Co, Inc		41,927
763	*	Consolidated Graphics, Inc		52,861
738	e	Courier Corp		29,520
509	e	CSS Industries, Inc		20,161
4,341	e	Dow Jones & Co, Inc		249,390
4,322	e	Dun & Bradstreet Corp		445,080
1,468		Ennis, Inc		34,527
6,602	e	EW Scripps Co (Class A)		301,645
17,057		Gannett Co, Inc		937,282
1,340	e	GateHouse Media, Inc		24,857
4,449		Harte-Hanks, Inc		114,250
10,732	e	Idearc, Inc		379,162
3,443		John Wiley & Sons, Inc (Class A)		166,262
2,531		Journal Communications, Inc (Class A)		32,928
3,120		Lee Enterprises, Inc		65,083
1,457	e	Martha Stewart Living Omnimedia, Inc (Class A)		25,060
3,476	e	McClatchy Co (Class A)		87,978
24,945		McGraw-Hill Cos, Inc		1,698,256
1,397		Media General, Inc (Class A)		46,478
3,505		Meredith Corp		215,908
408		Multi-Color Corp		16,038
9,887	e	New York Times Co (Class A)		251,130
1,525	e*	Playboy Enterprises, Inc (Class B)		17,278
19,361	e*	Primedia, Inc		55,179
4,974	*	R.H. Donnelley Corp		376,930
16,002		R.R. Donnelley & Sons Co		696,247
864	e	Schawk, Inc		17,297
2,978	e*	Scholastic Corp		107,029
1,098	e	Standard Register Co		12,517
5,095	e*	Sun-Times Media Group, Inc (Class A)		26,749
6,063	e	Tribune Co		178,252
3,433	e*	Valassis Communications, Inc		59,013
3,125	*	VistaPrint Ltd		119,531
427		Washington Post Co (Class B)		331,390
		TOTAL PRINTING AND PUBLISHING		7,574,491

137

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
RAILROAD TRANSPORTATION - 0.63%
25,890		Burlington Northern Santa Fe Corp	$	2,204,275
31,785		CSX Corp		1,432,868
2,815	e	Florida East Coast Industries		233,589
2,561	*	Genesee & Wyoming, Inc (Class A)		76,420
5,583	e*	Kansas City Southern Industries, Inc		209,586
28,584		Norfolk Southern Corp		1,502,661
19,590		Union Pacific Corp		2,255,789
		TOTAL RAILROAD TRANSPORTATION		7,915,188
REAL ESTATE - 0.13%
14,234	*	CB Richard Ellis Group, Inc (Class A)		519,541
406	e	Consolidated-Tomoka Land Co		28,132
4,884	e	Forest City Enterprises, Inc (Class A)		300,268
1,167	*	Grubb & Ellis Co		13,537
2,783		Jones Lang LaSalle, Inc		315,871
1,976	e*	LoopNet, Inc		46,100
4,180	*	Meruelo Maddux Properties, Inc		34,109
5,414	e	St. Joe Co		250,885
6,488	e	Stewart Enterprises, Inc (Class A)		50,542
1,745		Thomas Properties Group, Inc		27,885
		TOTAL REAL ESTATE		1,586,870
RUBBER AND MISCELLANEOUS PLASTIC PRODUCT - 0.30%
485	e*	AEP Industries, Inc		21,830
4,612	e	Cooper Tire & Rubber Co		127,383
928	e*	Deckers Outdoor Corp		93,635
15,237	*	Goodyear Tire & Rubber Co		529,638
1,047	e*	Metabolix, Inc		26,206
20,289		Newell Rubbermaid, Inc		597,105
25,896		Nike, Inc (Class B)		1,509,478
2,302		Schulman (A.), Inc		56,008
11,796		Sealed Air Corp		365,912
1,498	*	Skechers U.S.A., Inc (Class A)		43,742
2,697		Spartech Corp		71,605
2,058		Titan International, Inc		65,053
679	e*	Trex Co, Inc		13,329
4,822		Tupperware Corp		138,584
2,169	e	West Pharmaceutical Services, Inc		102,268
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		3,761,776
SECURITY AND COMMODITY BROKERS - 3.20%
5,578		A.G. Edwards, Inc		471,620
17,103		Ameriprise Financial, Inc		1,087,238
8,652		Bear Stearns Cos, Inc		1,211,280
4,641	e	BlackRock, Inc		726,734
1,550		Calamos Asset Management, Inc (Class A)		39,603
3,891	e	Cbot Holdings, Inc (Class A)		803,881
74,374		Charles Schwab Corp		1,526,175
2,545		Chicago Mercantile Exchange Holdings, Inc		1,359,946
1,263	e	Cohen & Steers, Inc		54,877
1,181	*	Cowen Group, Inc		21,152
31,056	*	E*Trade Financial Corp		686,027
8,382	e	Eaton Vance Corp		370,317

138

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
628		Evercore Partners, Inc (Class A)	$	18,696
418	e*	FCStone Group, Inc		23,956
6,729		Federated Investors, Inc (Class B)		257,923
12,156		Franklin Resources, Inc		1,610,305
465	e	GAMCO Investors, Inc (Class A)		26,063
1,167	e*	GFI Group, Inc		84,584
29,555		Goldman Sachs Group, Inc		6,406,046
1,185	e	Greenhill & Co, Inc		81,421
2,928	e*	Interactive Brokers Group, Inc (Class A)		79,437
5,190	e*	IntercontinentalExchange, Inc		767,342
2,825	e	International Securities Exchange, Inc		184,614
3,218	e*	Investment Technology Group, Inc		139,436
13,643		Janus Capital Group, Inc		379,821
8,994		Jefferies Group, Inc		242,658
2,123	e*	KBW, Inc		62,374
7,726	*	Knight Capital Group, Inc (Class A)		128,252
3,959	e*	LaBranche & Co, Inc		29,217
7,157	e*	Ladenburg Thalmann Financial Services, Inc		16,461
3,751	e	Lazard Ltd (Class A)		168,908
9,522		Legg Mason, Inc		936,774
38,717		Lehman Brothers Holdings, Inc		2,885,191
2,236	e*	MarketAxess Holdings, Inc		40,226
63,114		Merrill Lynch & Co, Inc		5,275,068
76,613		Morgan Stanley		6,426,298
955	e*	Morningstar, Inc		44,909
8,182	*	Nasdaq Stock Market, Inc		243,087
6,005	e	Nuveen Investments, Inc (Class A)		373,211
6,697	e	Nymex Holdings, Inc		841,344
19,315	e	NYSE Euronext		1,421,970
3,186	e	optionsXpress Holdings, Inc		81,753
940	*	Penson Worldwide, Inc		23,058
1,448	*	Piper Jaffray Cos		80,697
6,853	e	Raymond James Financial, Inc		211,758
730	e	Sanders Morris Harris Group, Inc		8,497
9,408		SEI Investments Co		273,208
1,084	e*	Stifel Financial Corp		63,837
1,369		SWS Group, Inc		29,598
19,634		T Rowe Price Group, Inc		1,018,808
18,272	e*	TD Ameritrade Holding Corp		365,440
1,572	e*	Thomas Weisel Partners Group, Inc		26,174
834	e	US Global Investors, Inc (Class A)		18,907
39		Value Line, Inc		1,712
5,851		Waddell & Reed Financial, Inc (Class A)		152,185
1,558	e	WP Stewart & Co Ltd		16,967
		TOTAL SECURITY AND COMMODITY BROKERS		39,927,041
SOCIAL SERVICES - 0.01%
2,064	*	Bright Horizons Family Solutions, Inc		80,310
1,459	*	Capital Senior Living Corp		13,744
889	e*	Providence Service Corp		23,754
1,945	*	Res-Care, Inc		41,117
		TOTAL SOCIAL SERVICES		158,925

139

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
SPECIAL TRADE CONTRACTORS - 0.07%
336	e	Alico, Inc	$	20,493
2,239	*	AsiaInfo Holdings, Inc		21,718
1,767		Chemed Corp		117,134
3,012		Comfort Systems USA, Inc		42,710
2,968	e*	Dycom Industries, Inc		88,981
2,202	*	EMCOR Group, Inc		160,526
1,805	e*	Insituform Technologies, Inc (Class A)		39,367
1,031	e*	Integrated Electrical Services, Inc		33,992
820	e*	Layne Christensen Co		33,579
8,347	e*	Quanta Services, Inc		256,002
		TOTAL SPECIAL TRADE CONTRACTORS		814,502
STONE, CLAY, AND GLASS PRODUCTS - 0.49%
52,354		3M Co		4,543,804
1,797		Apogee Enterprises, Inc		49,993
1,574	e*	Cabot Microelectronics Corp		55,896
1,376	e	CARBO Ceramics, Inc		60,283
3,422	e	Eagle Materials, Inc		167,849
10,561		Gentex Corp		207,946
1,024	e	Libbey, Inc		22,088
7,375	e*	Owens Corning, Inc		248,021
11,237	*	Owens-Illinois, Inc		393,295
5,438	e*	US Concrete, Inc		47,256
5,829	e*	USG Corp		285,854
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		6,082,285
TEXTILE MILL PRODUCTS - 0.01%
838	e*	Heelys, Inc		21,671
988		Oxford Industries, Inc		43,808
1,030		Xerium Technologies, Inc		7,849
		TOTAL TEXTILE MILL PRODUCTS		73,328
TOBACCO PRODUCTS - 1.03%
152,896		Altria Group, Inc		10,724,125
7,351		Loews Corp (Carolina Group)		568,012
12,452	e	Reynolds American, Inc		811,870
1,903	e	Universal Corp		115,931
11,643	e	UST, Inc		625,346
2,541	e	Vector Group Ltd		57,249
		TOTAL TOBACCO PRODUCTS		12,902,533
TRANSPORTATION BY AIR - 0.51%
6,873	e*	ABX Air, Inc		55,396
708	e*	Air Methods Corp		25,962
7,375	e*	Airtran Holdings, Inc		80,535
2,676	*	Alaska Air Group, Inc		74,553
17,498	e*	AMR Corp		461,072
1,128	e*	Atlas Air Worldwide Holdings, Inc		66,484
1,954	e*	Bristow Group, Inc		96,821
7,366	e*	Continental Airlines, Inc (Class B)		249,486
1,258	e	Copa Holdings S.A. (Class A)		84,588
17,027	*	Delta Air Lines, Inc		335,432
2,416	*	EGL, Inc		112,296
4,473	e*	ExpressJet Holdings, Inc		26,749

140

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
22,372	e	FedEx Corp	$	2,482,731
12,624	e*	JetBlue Airways Corp		148,332
1,758	*	Midwest Air Group, Inc		26,405
19,147	*	Northwest Airlines Corp		425,063
922	e*	PHI, Inc		27,466
1,460	*	Pinnacle Airlines Corp		27,375
2,859	*	Republic Airways Holdings, Inc		58,181
4,709		Skywest, Inc		112,215
56,721	e	Southwest Airlines Co		845,710
8,258	e*	UAL Corp		335,192
5,653	*	US Airways Group, Inc		171,116
		TOTAL TRANSPORTATION BY AIR		6,329,160
TRANSPORTATION EQUIPMENT - 2.48%
1,320	e	A.O. Smith Corp		52,655
2,626	e*	AAR Corp		86,684
1,900	e*	Accuride Corp		29,279
1,854	*	Aftermarket Technology Corp		55,027
3,270	e	American Axle & Manufacturing Holdings, Inc		96,857
668		American Railcar Industries, Inc		26,052
1,552	*	Amerigon, Inc		27,920
1,151	e	Arctic Cat, Inc		22,790
5,173	e	ArvinMeritor, Inc		114,841
6,003		Autoliv, Inc		341,391
6,635	*	BE Aerospace, Inc		274,026
57,241		Boeing Co		5,504,295
6,439		Brunswick Corp		210,105
4,188	e	Clarcor, Inc		156,757
1,776	*	Comtech Group, Inc		29,322
3,326	e	Federal Signal Corp		52,750
4,793	e*	Fleetwood Enterprises, Inc		43,377
4,848	e*	Force Protection, Inc		100,063
131,653	e*	Ford Motor Co		1,240,180
872		Freightcar America, Inc		41,716
4,586	e*	GenCorp, Inc		59,939
29,432		General Dynamics Corp		2,302,171
35,009	e	General Motors Corp		1,323,340
691	e*	GenTek, Inc		24,337
12,373		Genuine Parts Co		613,701
9,188		Goodrich Corp		547,237
908	e	Greenbrier Cos, Inc		27,440
1,661	e	Group 1 Automotive, Inc		67,005
18,720		Harley-Davidson, Inc		1,115,899
6,362		Harsco Corp		330,824
7,008	e*	Hayes Lemmerz International, Inc		37,493
1,858	e	Heico Corp		78,185
13,209		ITT Industries, Inc		901,911
1,815		Kaman Corp		56,610
25,595		Lockheed Martin Corp		2,409,257
624	*	Miller Industries, Inc		15,662
1,899	e	Monaco Coach Corp		27,251
790	e	Noble International Ltd		16,148
25,086		Northrop Grumman Corp		1,953,447
3,863	*	Orbital Sciences Corp		81,162

141

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
5,487	e	Oshkosh Truck Corp	$	345,242
18,058		Paccar, Inc		1,571,768
9,466	*	Pactiv Corp		301,871
2,600	e	Polaris Industries, Inc		140,816
32,265		Raytheon Co		1,738,761
550	*	Sequa Corp (Class A)		61,600
2,358		Spartan Motors, Inc		40,133
4,583	e*	Spirit Aerosystems Holdings, Inc (Class A)		165,217
1,177		Standard Motor Products, Inc		17,690
1,529	e	Superior Industries International, Inc		33,271
3,354	*	Tenneco, Inc		117,524
2,377	e	Thor Industries, Inc		107,298
796	*	TransDigm Group, Inc		32,206
6,079	e	Trinity Industries, Inc		264,680
1,153	e	Triumph Group, Inc		75,487
3,080	*	TRW Automotive Holdings Corp		113,436
72,281		United Technologies Corp		5,126,891
10,912	e*	Visteon Corp		88,387
2,132	e	Wabash National Corp		31,191
3,205		Westinghouse Air Brake Technologies Corp		117,079
2,357	e	Winnebago Industries, Inc		69,579
		TOTAL TRANSPORTATION EQUIPMENT		31,055,233
TRANSPORTATION SERVICES - 0.17%
1,389	e	Ambassadors Group, Inc		49,351
287	e	Ambassadors International, Inc		9,546
12,300	e	CH Robinson Worldwide, Inc		645,996
848	e*	Dynamex, Inc		21,649
15,750	e	Expeditors International Washington, Inc		650,475
3,505		GATX Corp		172,621
3,009	*	HUB Group, Inc (Class A)		105,796
5,261	*	Lear Corp		187,344
2,524		Pacer International, Inc		59,364
2,093		Ship Finance International Ltd		62,120
7,211		UTI Worldwide, Inc		193,183
		TOTAL TRANSPORTATION SERVICES		2,157,445
TRUCKING AND WAREHOUSING - 0.38%
1,783	e	Arkansas Best Corp		69,484
1,550	e*	Celadon Group, Inc		24,645
3,233		Con-way, Inc		162,426
2,398	e	Forward Air Corp		81,748
4,102		Heartland Express, Inc		66,863
7,060	e	J.B. Hunt Transport Services, Inc		206,999
3,908		Landstar System, Inc		188,561
868	*	Marten Transport Ltd		15,633
2,240	e*	Old Dominion Freight Line		67,536
1,124	*	Saia, Inc		30,640
48,564		United Parcel Service, Inc (Class B)		3,545,172
394	e*	Universal Truckload Services, Inc		7,829
3,306	e	Werner Enterprises, Inc		66,616
4,215	e*	YRC Worldwide, Inc		155,112
		TOTAL TRUCKING AND WAREHOUSING		4,689,264

142

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
WATER TRANSPORTATION - 0.29%
3,237	e	Alexander & Baldwin, Inc	$	171,917
4,816	e*	American Commercial Lines, Inc		125,457
985	e	Arlington Tankers Ltd		28,250
31,000		Carnival Corp		1,511,870
1,583	e	Double Hull Tankers, Inc		24,679
3,050	e	Eagle Bulk Shipping, Inc		68,351
3,203		Frontline Ltd		146,858
1,288	e	Genco Shipping & Trading Ltd		53,143
2,091	e	General Maritime Corp		55,997
2,545		Golar LNG Ltd		42,400
1,828	e*	Gulfmark Offshore, Inc		93,630
2,450		Horizon Lines, Inc (Class A)		80,262
2,095	e*	Hornbeck Offshore Services, Inc		81,202
3,881	*	Kirby Corp		148,992
1,231		Knightsbridge Tankers Ltd		37,558
1,957	e	Nordic American Tanker Shipping		79,924
2,912	*	Odyssey Marine Exploration, Inc		17,501
2,409		Overseas Shipholding Group, Inc		196,093
9,683		Royal Caribbean Cruises Ltd		416,175
2,755		Teekay Corp		159,542
1,106	*	Ultrapetrol Bahamas Ltd		26,212
		TOTAL WATER TRANSPORTATION		3,566,013
WHOLESALE TRADE-DURABLE GOODS - 0.40%
2,311		Agilysys, Inc		51,998
3,078		Applied Industrial Technologies, Inc		90,801
8,781	e*	Arrow Electronics, Inc		337,454
3,350	e	Barnes Group, Inc		106,128
2,934	e*	Beacon Roofing Supply, Inc		49,849
1,201	e	BlueLinx Holdings, Inc		12,598
4,282		BorgWarner, Inc		368,423
2,052	e	Building Material Holding Corp		29,118
990	e	Castle (A.M.) & Co		35,551
1,509	e*	Conceptus, Inc		29,229
8,449	e*	Cytyc Corp		364,236
1,588	*	Digi International, Inc		23,407
1,510	e*	Drew Industries, Inc		50,041
5,529	e*	Genesis Microchip, Inc		51,751
681	*	Hansen Medical, Inc		12,864
1,040	e*	Houston Wire & Cable Co		29,546
7,856		IKON Office Solutions, Inc		122,632
11,124	*	Ingram Micro, Inc (Class A)		241,502
3,194	*	Insight Enterprises, Inc		72,089
1,838	e*	Interline Brands, Inc		47,935
1,095	*	Keystone Automotive Industries, Inc		45,300
4,015	e	Knight Transportation, Inc		77,811
299		Lawson Products, Inc		11,571
3,027	e*	LKQ Corp		74,646
3,102		Martin Marietta Materials, Inc		502,586
440	e*	MWI Veterinary Supply, Inc		17,552
3,496	e	Owens & Minor, Inc		122,150
10,418	*	Patterson Cos, Inc		388,279
3,421	e	PEP Boys-Manny Moe & Jack		68,967

143

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,769	e	Pool Corp	$	147,104
4,453	e*	PSS World Medical, Inc		81,134
5,006		Reliance Steel & Aluminum Co		281,638
1,529	*	RSC Holdings, Inc		30,580
1,944	e	Ryerson Tull, Inc		73,192
1,942	e*	Solera Holdings, Inc		37,636
4,235	*	Tech Data Corp		162,878
827	e*	TomoTherapy, Inc		18,128
3,578	e*	Tyler Technologies, Inc		44,403
5,156		W.W. Grainger, Inc		479,766
3,319	*	WESCO International, Inc		200,634
745	e*	West Marine, Inc		10,251
		TOTAL WHOLESALE TRADE-DURABLE GOODS		5,003,358
WHOLESALE TRADE-NONDURABLE GOODS - 0.57%
5,715	e	Airgas, Inc		273,749
2,989	*	Akorn, Inc		20,893
8,136	*	Alliance One International, Inc		81,767
4,019	e*	Allscripts Healthcare Solutions, Inc		102,404
856	e	Andersons, Inc		38,802
2,715	e*	Bare Escentuals, Inc		92,717
1,986	e*	Beijing Med-Pharm Corp		21,191
5,627	e	Brown-Forman Corp (Class B)		411,221
27,965		Cardinal Health, Inc		1,975,518
2,409	e*	Central European Distribution Corp		83,400
667	e*	Core-Mark Holding Co, Inc		23,999
9,449		Dean Foods Co		301,140
9,857	*	Endo Pharmaceuticals Holdings, Inc		337,405
2,084	e*	Fresh Del Monte Produce, Inc		52,204
364	e*	Green Mountain Coffee Roasters, Inc		28,661
2,712	*	Hain Celestial Group, Inc		73,604
6,568	*	Henry Schein, Inc		350,928
3,668	e	Herbalife Ltd		145,436
669	e	Kenneth Cole Productions, Inc (Class A)		16,524
1,677	e	K-Swiss, Inc (Class A)		47,509
1,070	e*	LSB Industries, Inc		22,877
136	e*	Maui Land & Pineapple Co, Inc		4,995
3,844		Men's Wearhouse, Inc		196,313
1,840		Myers Industries, Inc		40,682
816	e	Nash Finch Co		40,392
3,720		Nu Skin Enterprises, Inc (Class A)		61,380
928	e*	Nuco2, Inc		23,822
887	e*	Perry Ellis International, Inc		28,535
1,699	e*	School Specialty, Inc		60,213
1,840	e*	Source Interlink Cos, Inc		9,163
1,321	e	Spartan Stores, Inc		43,474
2,778		Stride Rite Corp		56,282
45,000		Sysco Corp		1,484,516
6,884	e*	Terra Industries, Inc		174,991
2,710	e*	Tractor Supply Co		141,056
2,765	e*	United Natural Foods, Inc		73,494
2,146	*	United Stationers, Inc		143,009
356	e	Valhi, Inc		5,803
1,324	e*	Volcom, Inc		66,372
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		7,156,441

144

TIAA-CREF INSTITUTIONAL FUNDS - Equity Index Fund
				VALUE
		TOTAL COMMON STOCKS	$	1,242,563,061
		(Cost $879,793,845)
PRINICPAL		ISSUER
SHORT-TERM INVESTMENTS - 11.54%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.44%
$      5,550,000	d	Federal Home Loan Bank 4.800%, 07/02/07		5,550,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		5,550,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 11.10%
138,706,963		State Street Navigator Securities Lending Prime Portfolio		138,706,963
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		138,706,963
		TOTAL SHORT-TERM INVESTMENTS		144,256,963
		(Cost $144,256,223)
		TOTAL PORTFOLIO - 110.96%		1,386,820,024
		(Cost $1,024,050,068)
		OTHER ASSETS & LIABILITIES, NET - (10.96)%		(137,029,644	)
		NET ASSETS - 100.00%	$	1,249,790,380
	*	Non-income producing.
	**	Percentage represents less than 0.01%.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other
		requirements on open futures contracts in the amount of $5,945,892.
	e	All or a portion of these securities are out on loan.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.

145

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.26%
AMUSEMENT AND RECREATION SERVICES - 0.61%
15,225		Harrah's Entertainment, Inc	$	1,298,084
164,870		Walt Disney Co		5,628,662
		TOTAL AMUSEMENT AND RECREATION SERVICES		6,926,746
APPAREL AND ACCESSORY STORES - 0.45%
7,700		Abercrombie & Fitch Co (Class A)		561,946
44,037		Gap, Inc		841,107
26,715	*	Kohl's Corp		1,897,566
28,570		Limited Brands, Inc		784,247
18,513		Nordstrom, Inc		946,385
		TOTAL APPAREL AND ACCESSORY STORES		5,031,251
APPAREL AND OTHER TEXTILE PRODUCTS - 0.16%
8,603		Jones Apparel Group, Inc		243,035
9,026		Liz Claiborne, Inc		336,670
5,380		Polo Ralph Lauren Corp		527,832
7,373		VF Corp		675,219
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,782,756
AUTO REPAIR, SERVICES AND PARKING - 0.02%
5,110	e	Ryder System, Inc		274,918
		TOTAL AUTO REPAIR, SERVICES AND PARKING		274,918
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.07%
12,820	*	Autonation, Inc		287,681
3,968	*	Autozone, Inc		542,108
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		829,789
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.92%
164,249		Home Depot, Inc		6,463,198
126,018		Lowe's Cos, Inc		3,867,492
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		10,330,690
BUSINESS SERVICES - 6.25%
48,063	*	Adobe Systems, Inc		1,929,729
8,392	*	Affiliated Computer Services, Inc (Class A)		475,994
19,234	*	Autodesk, Inc		905,537
46,099		Automatic Data Processing, Inc		2,234,419
16,694	*	BMC Software, Inc		505,828
33,568		CA, Inc		867,061
15,521	*	Citrix Systems, Inc		522,592
11,600	*	Cognizant Technology Solutions Corp (Class A)		871,044
14,406	*	Computer Sciences Corp		852,115
26,698	e*	Compuware Corp		316,638
11,106	*	Convergys Corp		269,209

146

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
93,883	*	eBay, Inc	$	3,021,155
25,209	*	Electronic Arts, Inc		1,192,890
42,750		Electronic Data Systems Corp		1,185,458
12,005		Equifax, Inc		533,262
13,600		Fidelity National Information Services, Inc		738,208
62,423	e	First Data Corp		2,039,359
13,995	*	Fiserv, Inc		794,916
18,066	*	Google, Inc (Class A)		9,455,383
15,817		IMS Health, Inc		508,200
39,401	e*	Interpublic Group of Cos, Inc		449,171
27,764	*	Intuit, Inc		835,141
46,623	*	Juniper Networks, Inc		1,173,501
698,658		Microsoft Corp		20,589,451
10,892	*	Monster Worldwide, Inc		447,661
14,284	*	NCR Corp		750,481
28,550	*	Novell, Inc		222,405
27,264		Omnicom Group, Inc		1,442,811
330,102	*	Oracle Corp		6,506,310
13,785		Robert Half International, Inc		503,153
299,692	*	Sun Microsystems, Inc		1,576,380
74,315	*	Symantec Corp		1,501,163
27,943	*	Unisys Corp		255,399
20,792	*	VeriSign, Inc		659,730
43,061		Waste Management, Inc		1,681,532
101,140	*	Yahoo!, Inc		2,743,928
		TOTAL BUSINESS SERVICES		70,557,214
CHEMICALS AND ALLIED PRODUCTS - 9.27%
127,534		Abbott Laboratories		6,829,446
17,653		Air Products & Chemicals, Inc		1,418,772
96,537	*	Amgen, Inc		5,337,531
7,874		Avery Dennison Corp		523,464
36,036		Avon Products, Inc		1,324,323
8,837	e*	Barr Pharmaceuticals, Inc		443,883
24,179	*	Biogen Idec, Inc		1,293,577
163,069		Bristol-Myers Squibb Co		5,146,458
12,664		Clorox Co		786,434
42,305		Colgate-Palmolive Co		2,743,479
79,423		Dow Chemical Co		3,512,085
76,473		Du Pont (E.I.) de Nemours & Co		3,887,887
7,116		Eastman Chemical Co		457,772
14,750		Ecolab, Inc		629,825
81,265		Eli Lilly & Co		4,541,088
9,127		Estee Lauder Cos (Class A)		415,370
26,436	*	Forest Laboratories, Inc		1,206,803
21,402	*	Genzyme Corp		1,378,289
76,944	*	Gilead Sciences, Inc		2,983,119
9,858	*	Hercules, Inc		193,710
13,176	*	Hospira, Inc		514,391
6,923		International Flavors & Fragrances, Inc		360,965
20,791	*	King Pharmaceuticals, Inc		425,384
179,091		Merck & Co, Inc		8,918,732
45,017		Monsanto Co		3,040,448
19,876	*	Mylan Laboratories, Inc		361,544

147

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
583,147		Pfizer, Inc	$	14,911,069
13,528		PPG Industries, Inc		1,029,616
26,121		Praxair, Inc		1,880,451
260,714		Procter & Gamble Co		15,953,090
11,372		Rohm & Haas Co		621,821
122,648		Schering-Plough Corp		3,733,405
8,885		Sherwin-Williams Co		590,586
11,000	e	Sigma-Aldrich Corp		469,370
8,303	*	Watson Pharmaceuticals, Inc		270,097
111,337		Wyeth		6,384,064
		TOTAL CHEMICALS AND ALLIED PRODUCTS		104,518,348
COAL MINING - 0.16%
15,435		Consol Energy, Inc		711,708
21,800		Peabody Energy Corp		1,054,684
		TOTAL COAL MINING		1,766,392
COMMUNICATIONS - 4.70%
28,562		Alltel Corp		1,929,363
511,656		AT&T, Inc		21,233,724
38,708	*	Avaya, Inc		651,843
9,191		CenturyTel, Inc		450,819
100		Citadel Broadcasting Corp		645
27,370		Citizens Communications Co		417,940
40,581		Clear Channel Communications, Inc		1,534,773
256,131	*	Comcast Corp (Class A)		7,202,404
63,400	*	DIRECTV Group, Inc		1,465,174
12,811		Embarq Corp		811,833
18,200	*	IAC/InterActiveCorp		629,902
130,537	*	Qwest Communications International, Inc		1,266,209
238,924		Sprint Nextel Corp		4,948,116
240,534		Verizon Communications, Inc		9,902,785
38,703		Windstream Corp		571,256
		TOTAL COMMUNICATIONS		53,016,786
DEPOSITORY INSTITUTIONS - 9.55%
369,047		Bank of America Corp		18,042,708
62,647		Bank of New York Co Inc/The		2,596,092
44,609		BB&T Corp		1,814,694
410,832		Citigroup, Inc		21,071,573
13,004		Comerica, Inc		773,348
15,335		Commerce Bancorp, Inc		567,242
10,818		Compass Bancshares, Inc		746,226
46,364	e	Fifth Third Bancorp		1,843,896
10,223	e	First Horizon National Corp		398,697
40,700		Hudson City Bancorp, Inc		497,354
29,097		Huntington Bancshares, Inc		661,666
283,466		JPMorgan Chase & Co		13,733,928
32,592		Keycorp		1,118,883
6,406		M&T Bank Corp		684,801
21,286		Marshall & Ilsley Corp		1,013,852
34,050		Mellon Financial Corp		1,498,200
48,426		National City Corp		1,613,554
15,353		Northern Trust Corp		986,277

148

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
28,817		PNC Financial Services Group, Inc	$	2,062,721
58,863		Regions Financial Corp		1,948,365
28,872		Sovereign Bancorp, Inc		610,354
33,027		State Street Corp		2,259,047
29,423		SunTrust Banks, Inc		2,522,728
27,049		Synovus Financial Corp		830,404
144,727		US Bancorp		4,768,755
158,561		Wachovia Corp		8,126,251
73,578		Washington Mutual, Inc		3,137,366
277,617		Wells Fargo & Co		9,763,790
62,723		Western Union Co		1,306,520
8,919		Zions Bancorporation		685,960
		TOTAL DEPOSITORY INSTITUTIONS		107,685,252
EATING AND DRINKING PLACES - 0.79%
11,369		Darden Restaurants, Inc		500,122
99,527		McDonald's Corp		5,051,991
61,855	*	Starbucks Corp		1,623,075
8,327		Wendy's International, Inc		306,017
44,054		Yum! Brands, Inc		1,441,447
		TOTAL EATING AND DRINKING PLACES		8,922,652
EDUCATIONAL SERVICES - 0.06%
11,780	*	Apollo Group, Inc (Class A)		688,305
		TOTAL EDUCATIONAL SERVICES		688,305
ELECTRIC, GAS, AND SANITARY SERVICES - 3.69%
55,427	*	AES Corp		1,212,743
14,146	*	Allegheny Energy, Inc		731,914
21,713	*	Allied Waste Industries, Inc		292,257
16,933		Ameren Corp		829,886
32,912		American Electric Power Co, Inc		1,482,356
25,578		Centerpoint Energy, Inc		445,057
19,365		CMS Energy Corp		333,078
21,592		Consolidated Edison, Inc		974,231
14,800		Constellation Energy Group, Inc		1,290,116
28,795		Dominion Resources, Inc		2,485,296
14,301		DTE Energy Co		689,594
104,330		Duke Energy Corp		1,909,239
32,958	*	Dynegy, Inc (Class A)		311,124
27,096		Edison International		1,520,628
57,190		El Paso Corp		985,384
16,379		Entergy Corp		1,758,286
55,415		Exelon Corp		4,023,129
26,062		FirstEnergy Corp		1,686,993
33,784		FPL Group, Inc		1,916,904
5,976	e	Integrys Energy Group, Inc		303,162
15,337		KeySpan Corp		643,847
3,070	e	Nicor, Inc		131,764
22,339		NiSource, Inc		462,641
29,086		PG&E Corp		1,317,596
8,762		Pinnacle West Capital Corp		349,166
31,439		PPL Corp		1,471,031
20,841		Progress Energy, Inc		950,141

149

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
20,658		Public Service Enterprise Group, Inc	$	1,813,359
14,200		Questar Corp		750,470
21,790		Sempra Energy		1,290,622
62,048		Southern Co		2,127,626
18,639		TECO Energy, Inc		320,218
38,010		TXU Corp		2,558,073
48,933		Williams Cos, Inc		1,547,261
33,295		Xcel Energy, Inc		681,549
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		41,596,741
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.07%
48,139	e*	Advanced Micro Devices, Inc		688,388
28,097		Altera Corp		621,787
27,189		Analog Devices, Inc		1,023,394
71,861	*	Apple Computer, Inc		8,769,916
37,780	*	Broadcom Corp (Class A)		1,105,065
6,658	e*	Ciena Corp		240,554
503,618	*	Cisco Systems, Inc		14,025,761
14,560		Cooper Industries Ltd (Class A)		831,230
12,088		Eaton Corp		1,124,184
5,524		Harman International Industries, Inc		645,203
64,639		Honeywell International, Inc		3,637,883
481,827		Intel Corp		11,448,210
16,504	e*	JDS Uniphase Corp		221,649
10,067		L-3 Communications Holdings, Inc		980,425
21,755		Linear Technology Corp		787,096
63,144	*	LSI Logic Corp		474,211
26,652		Maxim Integrated Products, Inc		890,443
18,700	*	MEMC Electronic Materials, Inc		1,142,944
62,264	*	Micron Technology, Inc		780,168
11,391		Molex, Inc		341,844
191,640		Motorola, Inc		3,392,028
30,182	*	Network Appliance, Inc		881,314
10,132	*	Novellus Systems, Inc		287,445
29,629	*	Nvidia Corp		1,223,974
13,080	*	QLogic Corp		217,782
136,975		Qualcomm, Inc		5,943,345
12,466	e	RadioShack Corp		413,123
38,762	*	Tellabs, Inc		417,079
119,469		Texas Instruments, Inc		4,495,618
6,397		Whirlpool Corp		711,346
24,473		Xilinx, Inc		655,142
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		68,418,551
ENGINEERING AND MANAGEMENT SERVICES - 0.43%
31,539	*	Celgene Corp		1,808,131
7,031		Fluor Corp		783,042
19,149		Moody's Corp		1,191,068
28,297		Paychex, Inc		1,106,979
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		4,889,220
FABRICATED METAL PRODUCTS - 0.35%
8,869		Ball Corp		471,565
34,260		Illinois Tool Works, Inc		1,856,549

150

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
9,483	e	Parker Hannifin Corp	$	928,481
4,726		Snap-On, Inc		238,710
7,034		Stanley Works		426,964
		TOTAL FABRICATED METAL PRODUCTS		3,922,269
FOOD AND KINDRED PRODUCTS - 3.42%
62,964		Anheuser-Busch Cos, Inc		3,284,202
54,050		Archer Daniels Midland Co		1,788,515
18,223		Campbell Soup Co		707,235
166,484		Coca-Cola Co		8,708,778
23,551		Coca-Cola Enterprises, Inc		565,224
41,401		ConAgra Foods, Inc		1,112,031
17,790	e*	Constellation Brands, Inc (Class A)		431,941
28,990		General Mills, Inc		1,693,596
26,637		H.J. Heinz Co		1,264,458
14,035		Hershey Co		710,452
20,857	e	Kellogg Co		1,080,184
133,526		Kraft Foods, Inc (Class A)		4,706,792
11,257		McCormick & Co, Inc		429,792
3,792		Molson Coors Brewing Co (Class B)		350,608
11,108		Pepsi Bottling Group, Inc		374,117
135,318		PepsiCo, Inc		8,775,372
60,872		Sara Lee Corp		1,059,173
21,571		Tyson Foods, Inc (Class A)		496,996
18,459	e	Wrigley (Wm.) Jr Co		1,020,967
		TOTAL FOOD AND KINDRED PRODUCTS		38,560,433
FOOD STORES - 0.36%
58,920		Kroger Co		1,657,420
35,957		Safeway, Inc		1,223,617
16,800		Supervalu, Inc		778,176
11,573	e	Whole Foods Market, Inc		443,246
		TOTAL FOOD STORES		4,102,459
FORESTRY - 0.12%
17,217		Weyerhaeuser Co		1,358,938
		TOTAL FORESTRY		1,358,938
FURNITURE AND FIXTURES - 0.27%
16,232		Johnson Controls, Inc		1,879,179
14,373		Leggett & Platt, Inc		316,925
31,271		Masco Corp		890,285
		TOTAL FURNITURE AND FIXTURES		3,086,389
FURNITURE AND HOMEFURNISHINGS STORES - 0.09%
22,945	*	Bed Bath & Beyond, Inc		825,791
13,803	e	Circuit City Stores, Inc		208,149
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		1,033,940
GENERAL BUILDING CONTRACTORS - 0.17%
10,266		Centex Corp		411,667
22,506		DR Horton, Inc		448,545
6,200	e	KB Home		244,094
10,931		Lennar Corp (Class A)		399,637

151

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
17,748		Pulte Homes, Inc	$	398,443
		TOTAL GENERAL BUILDING CONTRACTORS		1,902,386
GENERAL MERCHANDISE STORES - 1.93%
9,215	e*	Big Lots, Inc		271,105
37,358		Costco Wholesale Corp		2,186,190
4,783	e	Dillard's, Inc (Class A)		171,853
25,979		Dollar General Corp		569,460
13,353		Family Dollar Stores, Inc		458,275
18,359		JC Penney Co, Inc		1,328,824
38,187		Macy's, Inc		1,519,079
71,041		Target Corp		4,518,208
36,988		TJX Cos, Inc		1,017,170
201,520		Wal-Mart Stores, Inc		9,695,127
		TOTAL GENERAL MERCHANDISE STORES		21,735,291
HEALTH SERVICES - 1.19%
15,763		AmerisourceBergen Corp		779,796
24,120		Cigna Corp		1,259,546
13,349	e*	Coventry Health Care, Inc		769,570
23,074	*	Express Scripts, Inc		1,153,931
9,925	*	Laboratory Corp of America Holdings		776,731
6,005		Manor Care, Inc		392,066
24,738		McKesson Corp		1,475,374
23,521	*	Medco Health Solutions, Inc		1,834,403
39,198	e*	Tenet Healthcare Corp		255,179
13,237	e	Quest Diagnostics, Inc		683,691
50,609	*	WellPoint, Inc		4,040,116
		TOTAL HEALTH SERVICES		13,420,403
HOLDING AND OTHER INVESTMENT OFFICES - 2.23%
8,111		Apartment Investment & Management Co (Class A)		408,957
18,337		Archstone-Smith Trust		1,083,900
6,300		AvalonBay Communities, Inc		748,944
10,110		Boston Properties, Inc		1,032,534
10,400		Developers Diversified Realty Corp		548,184
23,852		Equity Residential		1,088,367
19,800		General Growth Properties, Inc		1,048,410
42,700		Host Marriott Corp		987,224
18,430		Kimco Realty Corp		701,630
14,565		Plum Creek Timber Co, Inc		606,778
20,925		Prologis		1,190,633
10,206		Public Storage, Inc		784,025
18,415		Simon Property Group, Inc		1,713,332
80,400	e	SPDR Trust Series 1		12,094,572
10,668		Vornado Realty Trust		1,171,773
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		25,209,263
HOTELS AND OTHER LODGING PLACES - 0.36%
32,402		Hilton Hotels Corp		1,084,495
26,992		Marriott International, Inc (Class A)		1,167,134
17,604		Starwood Hotels & Resorts Worldwide, Inc		1,180,700
16,139	*	Wyndham Worldwide Corp		585,200
		TOTAL HOTELS AND OTHER LODGING PLACES		4,017,529

152

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 7.23%
14,541		American Standard Cos, Inc	$	857,628
114,096		Applied Materials, Inc		2,267,088
5,331		Black & Decker Corp		470,781
53,470		Caterpillar, Inc		4,186,701
8,626		Cummins, Inc		873,037
18,840		Deere & Co		2,274,742
187,966	*	Dell, Inc		5,366,429
16,639		Dover Corp		851,085
174,695	*	EMC Corp		3,161,980
854,384	d	General Electric Co		32,705,820
217,228		Hewlett-Packard Co		9,692,713
25,170		Ingersoll-Rand Co Ltd (Class A)		1,379,819
112,855		International Business Machines Corp		11,877,989
27,387		International Game Technology		1,087,264
14,879	e	Jabil Circuit, Inc		328,380
8,125	*	Lexmark International, Inc (Class A)		400,644
10,040		Pall Corp		461,740
13,726	e	Rockwell Automation, Inc		953,133
18,360	*	SanDisk Corp		898,538
85,142	*	Solectron Corp		313,323
8,500	*	Terex Corp		691,050
10,400	*	Varian Medical Systems, Inc		442,104
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		81,541,988
INSTRUMENTS AND RELATED PRODUCTS - 4.27%
33,595	*	Agilent Technologies, Inc		1,291,392
25,126		Allergan, Inc		1,448,263
14,665		Applera Corp (Applied Biosystems Group)		447,869
8,469		Bard (C.R.), Inc		699,793
4,369	e	Bausch & Lomb, Inc		303,383
53,802		Baxter International, Inc		3,031,205
20,358		Becton Dickinson & Co		1,516,671
20,062		Biomet, Inc		917,235
96,882	*	Boston Scientific Corp		1,486,170
19,792		Danaher Corp		1,494,296
23,585	e	Eastman Kodak Co		656,371
66,100		Emerson Electric Co		3,093,480
240,300		Johnson & Johnson		14,807,286
16,390		Kla-Tencor Corp		900,631
95,212		Medtronic, Inc		4,937,694
4,777	e*	Millipore Corp		358,705
10,203		PerkinElmer, Inc		265,890
18,126		Pitney Bowes, Inc		848,659
13,942		Rockwell Collins, Inc		984,863
28,604	*	St. Jude Medical, Inc		1,186,780
25,043	e	Stryker Corp		1,579,963
5,791		Tektronix, Inc		195,388
15,441	*	Teradyne, Inc		271,453
34,352	*	Thermo Electron Corp		1,776,685
8,368	e*	Waters Corp		496,724
78,747	*	Xerox Corp		1,455,245

153

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
19,697	*	Zimmer Holdings, Inc	$	1,672,078
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		48,124,172
INSURANCE AGENTS, BROKERS AND SERVICE - 0.45%
24,563		AON Corp		1,046,629
26,625		Hartford Financial Services Group, Inc		2,622,829
45,105		Marsh & McLennan Cos, Inc		1,392,842
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		5,062,300
INSURANCE CARRIERS - 5.04%
27,305		ACE Ltd		1,707,109
42,568		Aetna, Inc		2,102,859
40,754		Aflac, Inc		2,094,756
51,084		Allstate Corp		3,142,177
8,603		Ambac Financial Group, Inc		750,096
214,928		American International Group, Inc		15,051,408
8,300		Assurant, Inc		489,036
33,696		Chubb Corp		1,824,301
14,049		Cincinnati Financial Corp		609,727
36,004		Genworth Financial, Inc (Class A)		1,238,538
13,628	*	Humana, Inc		830,081
22,587		Lincoln National Corp		1,602,548
37,334		Loews Corp		1,903,287
11,025		MBIA, Inc		685,976
62,293		Metlife, Inc		4,016,653
6,830	e	MGIC Investment Corp		388,354
21,717		Principal Financial Group		1,265,884
61,103		Progressive Corp		1,462,195
38,788		Prudential Financial, Inc		3,771,357
8,975		Safeco Corp		558,784
8,211		Torchmark Corp		550,137
55,929		Travelers Cos, Inc/The		2,992,202
111,983		UnitedHealth Group, Inc		5,726,811
27,414		UnumProvident Corp		715,780
15,502		XL Capital Ltd (Class A)		1,306,664
		TOTAL INSURANCE CARRIERS		56,786,720
LEATHER AND LEATHER PRODUCTS - 0.13%
30,846	*	Coach, Inc		1,461,792
		TOTAL LEATHER AND LEATHER PRODUCTS		1,461,792
METAL MINING - 0.36%
30,806		Freeport-McMoRan Copper & Gold, Inc (Class B)		2,551,353
38,157		Newmont Mining Corp		1,490,412
		TOTAL METAL MINING		4,041,765
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.69%
12,889		Fortune Brands, Inc		1,061,667
13,266		Hasbro, Inc		416,685
32,300		Mattel, Inc		816,867
163,585	*	Tyco International Ltd		5,527,537
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		7,822,756
MISCELLANEOUS RETAIL - 1.39%
25,787	*	Amazon.com, Inc		1,764,089

154

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
33,076		Best Buy Co, Inc	$	1,543,657
126,830		CVS Corp		4,622,954
23,082	*	Office Depot, Inc		699,385
6,758		OfficeMax, Inc		265,589
6,881	*	Sears Holdings Corp		1,166,330
59,164		Staples, Inc		1,403,962
11,087		Tiffany & Co		588,276
82,851		Walgreen Co		3,607,333
		TOTAL MISCELLANEOUS RETAIL		15,661,575
MOTION PICTURES - 1.34%
60,282		CBS Corp (Class B)		2,008,596
194,194		News Corp (Class A)		4,118,855
315,552		Time Warner, Inc		6,639,214
57,191	*	Viacom, Inc (Class B)		2,380,861
		TOTAL MOTION PICTURES		15,147,526
NONDEPOSITORY INSTITUTIONS - 2.04%
98,589		American Express Co		6,031,675
34,069		Capital One Financial Corp		2,672,372
16,090		CIT Group, Inc		882,215
48,925		Countrywide Financial Corp		1,778,424
80,099		Fannie Mae		5,232,868
55,130		Freddie Mac		3,346,391
33,534		SLM Corp		1,930,888
10,190		Textron, Inc		1,122,021
		TOTAL NONDEPOSITORY INSTITUTIONS		22,996,854
NONMETALLIC MINERALS, EXCEPT FUELS - 0.08%
7,995		Vulcan Materials Co		915,747
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		915,747
OIL AND GAS EXTRACTION - 2.53%
37,844		Anadarko Petroleum Corp		1,967,510
26,477		Baker Hughes, Inc		2,227,510
24,987		BJ Services Co		710,630
34,055	e	Chesapeake Energy Corp		1,178,303
11,800		ENSCO International, Inc		719,918
75,839		Halliburton Co		2,616,446
24,121	*	Nabors Industries Ltd		805,159
14,817	*	National Oilwell Varco, Inc		1,544,524
11,223		Noble Corp		1,094,467
9,601		Rowan Cos, Inc		393,449
97,402		Schlumberger Ltd		8,273,326
16,097		Smith International, Inc		943,928
24,137	*	Transocean, Inc		2,558,039
28,094	*	Weatherford International Ltd		1,551,913
31,986		XTO Energy, Inc		1,922,359
		TOTAL OIL AND GAS EXTRACTION		28,507,481
PAPER AND ALLIED PRODUCTS - 0.47%
9,361		Bemis Co		310,598
36,866		International Paper Co		1,439,617
37,761		Kimberly-Clark Corp		2,525,833

155

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
14,691		MeadWestvaco Corp	$	518,886
8,901		Temple-Inland, Inc		547,679
		TOTAL PAPER AND ALLIED PRODUCTS		5,342,613
PERSONAL SERVICES - 0.09%
11,231		Cintas Corp		442,838
27,345	e	H&R Block, Inc		639,053
		TOTAL PERSONAL SERVICES		1,081,891
PETROLEUM AND COAL PRODUCTS - 7.59%
27,406		Apache Corp		2,236,056
4,890		Ashland, Inc		312,716
178,321		Chevron Corp		15,021,761
135,734		ConocoPhillips		10,655,119
36,821		Devon Energy Corp		2,882,716
20,233		EOG Resources, Inc		1,478,223
467,846		Exxon Mobil Corp		39,242,922
21,867		Hess Corp		1,289,278
57,184		Marathon Oil Corp		3,428,753
15,581		Murphy Oil Corp		926,135
69,363		Occidental Petroleum Corp		4,014,730
9,765		Sunoco, Inc		778,075
45,472		Valero Energy Corp		3,358,562
		TOTAL PETROLEUM AND COAL PRODUCTS		85,625,046
PIPELINES, EXCEPT NATURAL GAS - 0.12%
51,365		Spectra Energy Corp		1,333,435
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,333,435
PRIMARY METAL INDUSTRIES - 0.97%
71,576		Alcoa, Inc		2,900,975
8,385		Allegheny Technologies, Inc		879,419
129,215	*	Corning, Inc		3,301,443
24,541		Nucor Corp		1,439,330
11,300		Precision Castparts Corp		1,371,368
9,839		United States Steel Corp		1,069,991
		TOTAL PRIMARY METAL INDUSTRIES		10,962,526
PRINTING AND PUBLISHING - 0.46%
5,469	e	Dow Jones & Co, Inc		314,194
7,255		EW Scripps Co (Class A)		331,481
19,200		Gannett Co, Inc		1,055,040
28,962		McGraw-Hill Cos, Inc		1,971,733
2,886		Meredith Corp		177,778
11,963	e	New York Times Co (Class A)		303,860
18,395		R.R. Donnelley & Sons Co		800,366
6,306	e	Tribune Co		185,396
		TOTAL PRINTING AND PUBLISHING		5,139,848
RAILROAD TRANSPORTATION - 0.75%
29,729		Burlington Northern Santa Fe Corp		2,531,127
35,448		CSX Corp		1,597,996
32,900		Norfolk Southern Corp		1,729,553

156

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
22,432		Union Pacific Corp	$	2,583,045
		TOTAL RAILROAD TRANSPORTATION		8,441,721
REAL ESTATE - 0.05%
15,000	*	CB Richard Ellis Group, Inc (Class A)		547,500
		TOTAL REAL ESTATE		547,500
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.31%
17,004	*	Goodyear Tire & Rubber Co		591,059
22,187		Newell Rubbermaid, Inc		652,963
31,332		Nike, Inc (Class B)		1,826,342
13,396		Sealed Air Corp		415,544
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		3,485,908
SECURITY AND COMMODITY BROKERS - 3.13%
19,506		Ameriprise Financial, Inc		1,239,996
9,783		Bear Stearns Cos, Inc		1,369,620
83,769		Charles Schwab Corp		1,718,940
2,874		Chicago Mercantile Exchange Holdings, Inc		1,535,751
35,211	*	E*Trade Financial Corp		777,811
7,516		Federated Investors, Inc (Class B)		288,088
13,674		Franklin Resources, Inc		1,811,395
33,981		Goldman Sachs Group, Inc		7,365,382
16,086		Janus Capital Group, Inc		447,834
10,709		Legg Mason, Inc		1,053,551
43,574		Lehman Brothers Holdings, Inc		3,247,134
72,207		Merrill Lynch & Co, Inc		6,035,061
87,433		Morgan Stanley		7,333,880
21,571		T Rowe Price Group, Inc		1,119,319
		TOTAL SECURITY AND COMMODITY BROKERS		35,343,762
STONE, CLAY, AND GLASS PRODUCTS - 0.46%
59,986		3M Co		5,206,185
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		5,206,185
TOBACCO PRODUCTS - 1.23%
174,717		Altria Group, Inc		12,254,650
13,961	e	Reynolds American, Inc		910,257
13,303		UST, Inc		714,504
		TOTAL TOBACCO PRODUCTS		13,879,411
TRANSPORTATION BY AIR - 0.34%
25,409		FedEx Corp		2,819,637
65,241	e	Southwest Airlines Co		972,743
		TOTAL TRANSPORTATION BY AIR		3,792,380
TRANSPORTATION EQUIPMENT - 2.74%
65,255		Boeing Co		6,274,921
6,563		Brunswick Corp		214,151
155,716	e*	Ford Motor Co		1,466,845
33,619		General Dynamics Corp		2,629,678
46,071	e	General Motors Corp		1,741,484
13,384		Genuine Parts Co		663,846
10,653		Goodrich Corp		634,493
21,103		Harley-Davidson, Inc		1,257,950

157

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
15,042		ITT Industries, Inc	$	1,027,068
29,417		Lockheed Martin Corp		2,769,022
28,983		Northrop Grumman Corp		2,256,906
20,631		Paccar, Inc		1,795,722
12,161	*	Pactiv Corp		387,814
36,272		Raytheon Co		1,954,698
82,341		United Technologies Corp		5,840,447
		TOTAL TRANSPORTATION EQUIPMENT		30,915,045
TRANSPORTATION SERVICES - 0.07%
14,100		CH Robinson Worldwide, Inc		740,532
		TOTAL TRANSPORTATION SERVICES		740,532
TRUCKING AND WAREHOUSING - 0.57%
88,304		United Parcel Service, Inc (Class B)		6,446,192
		TOTAL TRUCKING AND WAREHOUSING		6,446,192
WATER TRANSPORTATION - 0.16%
36,115		Carnival Corp		1,761,329
		TOTAL WATER TRANSPORTATION		1,761,329
WHOLESALE TRADE-DURABLE GOODS - 0.09%
12,557	*	Patterson Cos, Inc		467,999
5,948		W.W. Grainger, Inc		553,461
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,021,460
WHOLESALE TRADE-NONDURABLE GOODS - 0.42%
6,455		Brown-Forman Corp (Class B)		471,731
32,173		Cardinal Health, Inc		2,272,694
11,214		Dean Foods Co		357,390
50,315		Sysco Corp		1,659,892
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		4,761,707
		TOTAL COMMON STOCKS		1,119,484,078
		(Cost $928,811,807)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 3.59%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.70%
$      7,890,000	d	Federal Home Loan Bank 4.800%, 07/02/07		7,890,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		7,890,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.89%
32,573,048		State Street Navigator Securities Lending Prime Portfolio		32,573,048
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		32,573,048
		TOTAL SHORT-TERM INVESTMENTS		40,463,048
		(Cost $40,461,996)
		TOTAL PORTFOLIO - 102.85%		1,159,947,126
		(Cost $969,273,803)

158

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
				VALUE
		OTHER ASSETS & LIABILITIES, NET - (2.85)%	$	(32,113,751	)
		NET ASSETS - 100.00%	$	1,127,833,375
		ABBREVIATION:
		SPDR- Standard & Poor's Depository Receipts
	*	Non-income producing.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other
		requirements on open futures contracts in the amount of $8,430,420.
	e	All or a portion of these securities are out on loan.

159

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.89%
AMUSEMENT AND RECREATION SERVICES - 0.72%
7,357	*	Activision, Inc	$	137,355
2,782		Harrah's Entertainment, Inc		237,193
1,907	*	Penn National Gaming, Inc		114,592
513		Warner Music Group Corp		7,413
		TOTAL AMUSEMENT AND RECREATION SERVICES		496,553
APPAREL AND ACCESSORY STORES - 1.89%
2,279		Abercrombie & Fitch Co (Class A)		166,321
4,698		American Eagle Outfitters, Inc		120,551
1,440	*	AnnTaylor Stores Corp		51,005
4,569	*	Chico's FAS, Inc		111,209
2,504	*	Hanesbrands, Inc		67,683
9,132	e	Limited Brands, Inc		250,673
6,754		Nordstrom, Inc		345,264
3,609		Ross Stores, Inc		111,157
3,152	e*	Urban Outfitters, Inc		75,743
		TOTAL APPAREL AND ACCESSORY STORES		1,299,606
APPAREL AND OTHER TEXTILE PRODUCTS - 0.45%
1,397		Guess ?, Inc		67,112
1,433		Phillips-Van Heusen Corp		86,797
1,590		Polo Ralph Lauren Corp		155,995
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		309,904
AUTO REPAIR, SERVICES AND PARKING - 0.21%
5,390	e*	Hertz Global Holdings, Inc		143,212
		TOTAL AUTO REPAIR, SERVICES AND PARKING		143,212
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.84%
2,765		Advance Auto Parts		112,065
1,204	*	Autozone, Inc		164,490
5,614	*	Carmax, Inc		143,157
1,656	*	Copart, Inc		50,657
2,963	*	O'Reilly Automotive, Inc		108,298
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		578,667
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.20%
3,285	e	Fastenal Co		137,510
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		137,510
BUSINESS SERVICES - 10.35%
1,647		Acxiom Corp		43,563
1,004	*	Affiliated Computer Services, Inc (Class A)		56,947
616	e	Aircastle Ltd		24,523
4,283	e*	Akamai Technologies, Inc		208,325
2,044	*	Alliance Data Systems Corp		157,960
5,095	*	Amdocs Ltd		202,883
1,827	e*	aQuantive, Inc		116,563

160

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,991	*	Autodesk, Inc	$	282,056
905	*	Avis Budget Group, Inc		25,729
10,177	*	BEA Systems, Inc		139,323
5,208	*	BMC Software, Inc		157,802
1,016		Brink's Co		62,880
6,619		CA, Inc		170,969
1,994	*	Cadence Design Systems, Inc		43,788
3,454	*	Ceridian Corp		120,890
1,819	e*	Cerner Corp		100,900
1,621	e*	Checkfree Corp		65,164
1,975	*	ChoicePoint, Inc		83,839
4,689	*	Citrix Systems, Inc		157,879
910	e*	Clear Channel Outdoor Holdings, Inc (Class A)		25,789
3,733	*	Cognizant Technology Solutions Corp (Class A)		280,311
6,204	*	Compuware Corp		73,579
1,403	*	DST Systems, Inc		111,132
8,088	*	Electronic Arts, Inc		382,724
7,663		Electronic Data Systems Corp		212,495
3,940		Equifax, Inc		175,015
1,113	*	F5 Networks, Inc		89,708
1,115		Factset Research Systems, Inc		76,210
148		Fair Isaac Corp		5,938
4,168		Fidelity National Information Services, Inc		226,239
4,368	*	Fiserv, Inc		248,102
630	*	Getty Images, Inc		30,120
4,652	e*	HLTH Corp		65,175
4,451		IMS Health, Inc		143,011
7,513	e*	Interpublic Group of Cos, Inc		85,648
8,745	*	Intuit, Inc		263,050
4,597	*	Iron Mountain, Inc		120,120
10,503	*	Juniper Networks, Inc		264,361
1,209	e*	Kinetic Concepts, Inc		62,832
2,190		Lamar Advertising Co (Class A)		137,444
2,187		Manpower, Inc		201,729
2,068	e	Mastercard, Inc (Class A)		343,019
4,258	*	McAfee, Inc		149,882
2,166		MoneyGram International, Inc		60,540
3,449	*	Monster Worldwide, Inc		141,754
2,537	e*	NAVTEQ Corp		107,417
584	*	NCR Corp		30,683
953	*	Novell, Inc		7,424
5,017	e*	Red Hat, Inc		111,779
3,816		Robert Half International, Inc		139,284
2,295	e*	Salesforce.com, Inc		98,364
6,056		ServiceMaster Co		93,626
3,687	*	Synopsys, Inc		97,447
1,000	e	Total System Services, Inc		29,510
6,308	*	VeriSign, Inc		200,153
260	*	WebMD Health Corp (Class A)		12,238
		TOTAL BUSINESS SERVICES		7,125,835
CHEMICALS AND ALLIED PRODUCTS - 6.06%
640	e*	Abraxis BioScience, Inc		14,227
2,650		Air Products & Chemicals, Inc		212,981
2,066		Albemarle Corp		79,603
413		Alberto-Culver Co		9,796
2,363		Avery Dennison Corp		157,092

161

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
10,507		Avon Products, Inc	$	386,132
2,850	*	Barr Pharmaceuticals, Inc		143,156
1,196		Cabot Corp		57,025
2,248		Celanese Corp (Series A)		87,177
1,719	e*	Cephalon, Inc		138,190
548	*	Charles River Laboratories International, Inc		28,288
1,609		Church & Dwight Co, Inc		77,972
3,587		Clorox Co		222,753
2,133		Dade Behring Holdings, Inc		113,305
4,538		Ecolab, Inc		193,773
2,838		Estee Lauder Cos (Class A)		129,157
8,311	e*	Forest Laboratories, Inc		379,397
4,068	*	Hospira, Inc		158,815
804	*	Idexx Laboratories, Inc		76,083
1,553	e*	ImClone Systems, Inc		54,914
1,683		International Flavors & Fragrances, Inc		87,752
472	*	Invitrogen Corp		34,810
470		Lubrizol Corp		30,339
4,880	*	Millennium Pharmaceuticals, Inc		51,582
1,718	*	Mosaic Co		67,036
6,458	*	Mylan Laboratories, Inc		117,471
3,740		Nalco Holding Co		102,663
1,406	*	NBTY, Inc		60,739
3,219	e*	PDL BioPharma, Inc		75,003
2,140		Rohm & Haas Co		117,015
2,699		RPM International, Inc		62,374
212		Scotts Miracle-Gro Co (Class A)		9,103
2,764	*	Sepracor, Inc		113,379
2,883		Sherwin-Williams Co		191,633
1,029		Sigma-Aldrich Corp		43,907
291		Valspar Corp		8,267
2,347	*	VCA Antech, Inc		88,458
3,503	*	Vertex Pharmaceuticals, Inc		100,046
2,242	*	Warner Chilcott Ltd (Class A)		40,558
1,453	*	Watson Pharmaceuticals, Inc		47,266
		TOTAL CHEMICALS AND ALLIED PRODUCTS		4,169,237
COAL MINING - 1.07%
3,704	e	Arch Coal, Inc		128,899
4,729		Consol Energy, Inc		218,054
2,262	e	Massey Energy Co		60,282
6,870		Peabody Energy Corp		332,371
		TOTAL COAL MINING		739,606
COMMUNICATIONS - 4.07%
10,850	*	American Tower Corp (Class A)		455,700
2,979	*	Avaya, Inc		50,166
1,889	*	Cablevision Systems Corp (Class A)		68,363
801	*	Central European Media Enterprises Ltd (Class A)		78,162
1,660		Citizens Communications Co		25,348
4,925	e*	Crown Castle International Corp		178,630
1,304	e*	CTC Media, Inc		35,391
5,407	*	EchoStar Communications Corp (Class A)		234,502
2,050		Global Payments, Inc		81,283
305	*	IAC/InterActiveCorp		10,556
1,320	*	Leap Wireless International, Inc		111,540
40,183	e*	Level 3 Communications, Inc		235,071

162

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,057	e*	Liberty Global, Inc (Class A)	$	207,539
10,136	*	Liberty Media Holding Corp (Interactive A)		226,337
1,472	*	MetroPCS Communications, Inc		48,635
1,666	e*	NeuStar, Inc (Class A)		48,264
4,185	*	NII Holdings, Inc		337,897
2,670	e*	SBA Communications Corp (Class A)		89,685
1,193		Telephone & Data Systems, Inc		74,646
147	*	US Cellular Corp		13,318
6,815	e	Windstream Corp		100,589
7,415	e*	XM Satellite Radio Holdings, Inc (Class A)		87,275
		TOTAL COMMUNICATIONS		2,798,897
DEPOSITORY INSTITUTIONS - 1.05%
434		Bank of Hawaii Corp		22,412
395		Capitol Federal Financial		14,583
1,426		Commerce Bancorp, Inc		52,748
5,653		Hudson City Bancorp, Inc		69,080
1,743		Investors Financial Services Corp		107,491
4,831		Northern Trust Corp		310,343
3,538		People's United Financial, Inc		62,729
2,724		Synovus Financial Corp		83,627
		TOTAL DEPOSITORY INSTITUTIONS		723,013
EATING AND DRINKING PLACES - 1.48%
3,120		Brinker International, Inc		91,322
1,543	e	Burger King Holdings, Inc		40,643
1,870	e*	Cheesecake Factory		45,852
3,672		Darden Restaurants, Inc		161,531
4,918	e	Tim Hortons, Inc		151,229
2,194		Wendy's International, Inc		80,630
13,600		Yum! Brands, Inc		444,992
		TOTAL EATING AND DRINKING PLACES		1,016,199
EDUCATIONAL SERVICES - 0.71%
3,755	*	Apollo Group, Inc (Class A)		219,405
2,468	*	Career Education Corp		83,344
1,057	*	ITT Educational Services, Inc		124,071
1,021	*	Laureate Education, Inc		62,955
		TOTAL EDUCATIONAL SERVICES		489,775
ELECTRIC, GAS, AND SANITARY SERVICES - 3.91%
17,335	*	AES Corp		379,290
4,303	*	Allegheny Energy, Inc		222,637
1,086	*	Allied Waste Industries, Inc		14,618
233		Aqua America, Inc		5,240
8,331		Centerpoint Energy, Inc		144,959
3,631		Constellation Energy Group, Inc		316,514
3,097	e*	Covanta Holding Corp		76,341
1,512	e	DPL, Inc		42,850
1,352	*	Dynegy, Inc (Class A)		12,763
4,537	*	Mirant Corp		193,503
5,065	e*	NRG Energy, Inc		210,552
7,474		PPL Corp		349,708
1,531		Questar Corp		80,913
3,861		Republic Services, Inc		118,301
773	*	Sierra Pacific Resources		13,574
2,278	*	Stericycle, Inc		101,280

163

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
12,909		Williams Cos, Inc	$	408,183
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		2,691,226
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 9.13%
5,791	e*	Advanced Micro Devices, Inc		82,811
9,219		Altera Corp		204,016
2,772		Ametek, Inc		109,993
4,646	e	Amphenol Corp (Class A)		165,630
8,501		Analog Devices, Inc		319,978
2,274	*	Avnet, Inc		90,141
500		AVX Corp		8,370
12,132	*	Broadcom Corp (Class A)		354,861
2,177	e*	Ciena Corp		78,655
1,513		Cooper Industries Ltd (Class A)		86,377
545	e*	Cree, Inc		14,088
3,752	e*	Cypress Semiconductor Corp		87,384
950	e*	Dolby Laboratories, Inc (Class A)		33,640
435		Eaton Corp		40,455
1,052	e*	Energizer Holdings, Inc		104,779
1,325	*	Fairchild Semiconductor International, Inc		25,599
866	e*	First Solar, Inc		77,325
2,988	e	Garmin Ltd		221,022
1,692		Harman International Industries, Inc		197,626
3,487		Harris Corp		190,216
1,724	*	Integrated Device Technology, Inc		26,325
425	*	International Rectifier Corp		15,836
1,648		Intersil Corp (Class A)		51,846
874	*	Jarden Corp		37,591
2,927	e*	JDS Uniphase Corp		39,310
1,081		L-3 Communications Holdings, Inc		105,279
760		Lincoln Electric Holdings, Inc		56,422
6,591		Linear Technology Corp		238,462
11,801	*	LSI Logic Corp		88,626
12,248	*	Marvell Technology Group Ltd		223,036
8,327		Maxim Integrated Products, Inc		278,205
5,824	*	MEMC Electronic Materials, Inc		355,963
5,670		Microchip Technology, Inc		210,017
6,401	*	Micron Technology, Inc		80,205
2,037		Molex, Inc		61,130
8,139	e	National Semiconductor Corp		230,090
9,636	*	Network Appliance, Inc		281,371
2,122	*	Novellus Systems, Inc		60,201
9,423	*	Nvidia Corp		389,264
3,567	*	QLogic Corp		59,391
2,472	e	RadioShack Corp		81,922
2,384	e*	Rambus, Inc		42,864
3,062	e*	Sanmina-SCI Corp		9,584
1,391	e*	Silicon Laboratories, Inc		48,143
37,957	e*	Sirius Satellite Radio, Inc		114,630
565	*	Sunpower Corp (Class A)		35,623
1,510	*	Thomas & Betts Corp		87,580
2,331	*	Varian Semiconductor Equipment Associates, Inc		93,380
1,082	*	Vishay Intertechnology, Inc		17,117
1,461		Whirlpool Corp		162,463
7,736	e	Xilinx, Inc		207,093
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		6,281,935

164

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
ENGINEERING AND MANAGEMENT SERVICES - 2.39%
3,215	e*	Amylin Pharmaceuticals, Inc	$	132,329
971	e	Corporate Executive Board Co		63,028
2,290		Fluor Corp		255,037
1,453	*	Gen-Probe, Inc		87,790
1,420	*	Hewitt Associates, Inc (Class A)		45,440
3,097	e*	Jacobs Engineering Group, Inc		178,108
2,882	*	McDermott International, Inc		239,552
8,807		Paychex, Inc		344,530
3,762	e	Quest Diagnostics, Inc		194,307
1,907	*	Shaw Group, Inc		88,275
289	*	URS Corp		14,031
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,642,427
FABRICATED METAL PRODUCTS - 0.53%
725	e*	Alliant Techsystems, Inc		71,884
2,652		Ball Corp		141,007
4,245	*	Crown Holdings, Inc		105,998
695		Stanley Works		42,187
		TOTAL FABRICATED METAL PRODUCTS		361,076
FOOD AND KINDRED PRODUCTS - 1.72%
3,416		Campbell Soup Co		132,575
4,648		H.J. Heinz Co		220,641
1,838	e*	Hansen Natural Corp		78,997
3,089		Hershey Co		156,365
2,249		McCormick & Co, Inc		85,867
919		Pepsi Bottling Group, Inc		30,952
9,975		Sara Lee Corp		173,565
5,476		Wrigley (Wm.) Jr Co		302,878
		TOTAL FOOD AND KINDRED PRODUCTS		1,181,840
FOOD STORES - 0.26%
805	e*	Panera Bread Co (Class A)		37,078
3,671	e	Whole Foods Market, Inc		140,599
		TOTAL FOOD STORES		177,677
FORESTRY - 0.02%
298		Rayonier, Inc		13,452
		TOTAL FORESTRY		13,452
FURNITURE AND FIXTURES - 0.13%
273		Hillenbrand Industries, Inc		17,745
1,401	e	HNI Corp		57,441
568		Masco Corp		16,171
		TOTAL FURNITURE AND FIXTURES		91,357
FURNITURE AND HOMEFURNISHINGS STORES - 0.79%
7,197	*	Bed Bath & Beyond, Inc		259,020
1,914		Circuit City Stores, Inc		28,863
3,918	*	GameStop Corp (Class A)		153,194
1,478	e	Steelcase, Inc (Class A)		27,343
2,363	e	Williams-Sonoma, Inc		74,624
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		543,044
GENERAL BUILDING CONTRACTORS - 0.12%
159	e	Centex Corp		6,376

165

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
50	*	NVR, Inc	$	33,988
1,957	e	Pulte Homes, Inc		43,935
		TOTAL GENERAL BUILDING CONTRACTORS		84,299
GENERAL MERCHANDISE STORES - 1.76%
2,885	e*	Big Lots, Inc		84,877
8,221		Dollar General Corp		180,204
3,878	e	Family Dollar Stores, Inc		133,093
5,864		JC Penney Co, Inc		424,436
3,095	e	Saks, Inc		66,078
11,807		TJX Cos, Inc		324,693
		TOTAL GENERAL MERCHANDISE STORES		1,213,381
HEALTH SERVICES - 3.14%
2,210		AmerisourceBergen Corp		109,329
237	e	Brookdale Senior Living, Inc		10,800
7,384		Cigna Corp		385,592
213	*	Community Health Systems, Inc		8,616
1,493	*	Covance, Inc		102,360
3,796	*	Coventry Health Care, Inc		218,839
2,877	*	DaVita, Inc		155,013
1,591	e*	Edwards Lifesciences Corp		78,500
6,034	*	Express Scripts, Inc		301,760
3,053	*	Laboratory Corp of America Holdings		238,928
2,178	*	Lincare Holdings, Inc		86,793
1,900		Manor Care, Inc		124,051
382		Omnicare, Inc		13,775
1,260	*	Pediatrix Medical Group, Inc		69,489
2,852		Pharmaceutical Product Development, Inc		109,146
1,499	*	Sierra Health Services, Inc		62,328
9,502	e*	Tenet Healthcare Corp		61,858
119	*	Triad Hospitals, Inc		6,397
301		Universal Health Services, Inc (Class B)		18,512
		TOTAL HEALTH SERVICES		2,162,086
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.28%
1,828	*	Foster Wheeler Ltd		195,578
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		195,578
HOLDING AND OTHER INVESTMENT OFFICES - 4.26%
774	e*	Affiliated Managers Group, Inc		99,660
2,555		Duke Realty Corp		91,137
285	e	Essex Property Trust, Inc		33,146
759		Federal Realty Investment Trust		58,640
3,078		General Growth Properties, Inc		162,980
246		Health Care REIT, Inc		9,929
13,700		iShares Russell Midcap Growth Index Fund		1,560,567
865	e	Kilroy Realty Corp		61,277
1,861		Macerich Co		153,384
293		Plum Creek Timber Co, Inc		12,206
5,787		Prologis		329,280
250		Public Storage, Inc		19,205
753		Taubman Centers, Inc		37,356
3,731	e	UDR, Inc		98,125
3,418		Ventas, Inc		123,903
1,961	e	Weingarten Realty Investors		80,597
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		2,931,392

166

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
HOTELS AND OTHER LODGING PLACES - 1.55%
1,425		Boyd Gaming Corp	$	70,096
898		Choice Hotels International, Inc		35,489
10,121		Hilton Hotels Corp		338,750
1,028	e	Orient-Express Hotels Ltd (Class A)		54,895
5,561		Starwood Hotels & Resorts Worldwide, Inc		372,976
667	e	Station Casinos, Inc		57,896
306	*	Wyndham Worldwide Corp		11,096
1,374	e	Wynn Resorts Ltd		123,234
		TOTAL HOTELS AND OTHER LODGING PLACES		1,064,432
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.14%
1,543	*	AGCO Corp		66,982
4,687		American Standard Cos, Inc		276,439
886		Black & Decker Corp		78,243
10,314	*	Brocade Communications Systems, Inc		80,655
438		Carlisle Cos, Inc		20,371
1,518		CDW Corp		128,984
2,708		Cummins, Inc		274,077
1,550	e	Diebold, Inc		80,910
2,009	e	Donaldson Co, Inc		71,420
1,710		Dover Corp		87,467
2,137	*	Dresser-Rand Group, Inc		84,412
1,315		Flowserve Corp		94,154
1,687	*	FMC Technologies, Inc		133,644
1,854		Graco, Inc		74,679
3,310	*	Grant Prideco, Inc		178,177
2,106		IDEX Corp		81,165
480		Ingersoll-Rand Co Ltd (Class A)		26,314
8,632		International Game Technology		342,690
2,997		Jabil Circuit, Inc		66,144
2,821	e	Joy Global, Inc		164,549
569		Kennametal, Inc		46,675
3,507	*	Lam Research Corp		180,260
1,335	*	Lexmark International, Inc (Class A)		65,829
1,619		Manitowoc Co, Inc		130,135
2,892		Pall Corp		133,003
482	e*	Riverbed Technology, Inc		21,121
4,096	e	Rockwell Automation, Inc		284,426
3,521	*	SanDisk Corp		172,318
1,792	e*	Scientific Games Corp (Class A)		62,630
5,349		Seagate Technology, Inc		116,448
7,229	*	Solectron Corp		26,603
2,675	*	Terex Corp		217,478
1,046		Toro Co		61,599
3,310	*	Varian Medical Systems, Inc		140,708
1,420	e*	VeriFone Holdings, Inc		50,055
1,718	*	Western Digital Corp		33,243
1,917	*	Zebra Technologies Corp (Class A)		74,265
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		4,228,272
INSTRUMENTS AND RELATED PRODUCTS - 5.89%
1,607	*	Advanced Medical Optics, Inc		56,052
10,424	*	Agilent Technologies, Inc		400,699
7,922		Allergan, Inc		456,624
855		Applera Corp (Applied Biosystems Group)		26,112

167

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
784	*	Armor Holdings, Inc	$	68,106
2,688		Bard (C.R.), Inc		222,109
273	e	Bausch & Lomb, Inc		18,957
1,306		Beckman Coulter, Inc		84,472
6,377		Biomet, Inc		291,556
464	e	Cooper Cos, Inc		24,740
3,945		Dentsply International, Inc		150,936
58		DRS Technologies, Inc		3,322
973	e*	Intuitive Surgical, Inc		135,023
4,970		Kla-Tencor Corp		273,102
1,027	*	Mettler-Toledo International, Inc		98,089
1,401	e*	Millipore Corp		105,201
1,460		National Instruments Corp		47,552
779		PerkinElmer, Inc		20,301
4,613	e	Pitney Bowes, Inc		215,981
2,021	e*	Resmed, Inc		83,386
2,060	*	Respironics, Inc		87,735
4,345		Rockwell Collins, Inc		306,931
2,320		Roper Industries, Inc		132,472
8,785	*	St. Jude Medical, Inc		364,490
1,070	*	Techne Corp		61,215
409		Tektronix, Inc		13,800
2,487	*	Teradyne, Inc		43,721
3,204	*	Trimble Navigation Ltd		103,169
2,620	*	Waters Corp		155,523
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		4,051,376
INSURANCE AGENTS, BROKERS AND SERVICE - 0.14%
2,905		Brown & Brown, Inc		73,032
751	e	Gallagher (Arthur J.) & Co		20,938
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		93,970
INSURANCE CARRIERS - 1.13%
120	e	CNA Financial Corp		5,723
147		Erie Indemnity Co (Class A)		7,944
68		Hanover Insurance Group, Inc		3,318
1,258		HCC Insurance Holdings, Inc		42,030
2,965	*	Health Net, Inc		156,552
4,364	*	Humana, Inc		265,811
328		PartnerRe Ltd		25,420
1,221	*	Philadelphia Consolidated Holding Co		51,038
332		Principal Financial Group		19,352
278		Transatlantic Holdings, Inc		19,774
1,191		W.R. Berkley Corp		38,755
1,037	*	WellCare Health Plans, Inc		93,859
555		XL Capital Ltd (Class A)		46,781
		TOTAL INSURANCE CARRIERS		776,357
JUSTICE, PUBLIC ORDER AND SAFETY - 0.14%
1,564	*	Corrections Corp of America		98,704
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		98,704
LEATHER AND LEATHER PRODUCTS - 0.79%
9,638	*	Coach, Inc		456,745
2,066	e*	CROCS, Inc		88,900
		TOTAL LEATHER AND LEATHER PRODUCTS		545,645

168

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
METAL MINING - 0.19%
1,065	e	Cleveland-Cliffs, Inc	$	82,719
1,174		Foundation Coal Holdings, Inc		47,711
		TOTAL METAL MINING		130,430
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.23%
1,362		Hasbro, Inc		42,780
4,552		Mattel, Inc		115,120
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		157,900
MISCELLANEOUS RETAIL - 1.31%
297		Barnes & Noble, Inc		11,426
1,619	e*	Coldwater Creek, Inc		37,609
1,052	e*	Dick's Sporting Goods, Inc		61,195
2,469	*	Dollar Tree Stores, Inc		107,525
1,146		MSC Industrial Direct Co (Class A)		63,030
966	e*	Nutri/System, Inc		67,465
7,135	*	Office Depot, Inc		216,191
873		OfficeMax, Inc		34,309
3,530		Petsmart, Inc		114,549
3,501		Tiffany & Co		185,763
		TOTAL MISCELLANEOUS RETAIL		899,062
MOTION PICTURES - 0.24%
3,976	*	Discovery Holding Co (Class A)		91,408
1,288	*	DreamWorks Animation SKG, Inc (Class A)		37,146
1,680	e	Regal Entertainment Group (Class A)		36,842
		TOTAL MOTION PICTURES		165,396
NONDEPOSITORY INSTITUTIONS - 0.79%
207	e*	AmeriCredit Corp		5,496
3,527		Broadridge Financial Solutions, Inc		67,436
1,847	e	CapitalSource, Inc		45,418
1,573	e	First Marblehead Corp		60,781
3,236		Textron, Inc		356,316
		TOTAL NONDEPOSITORY INSTITUTIONS		535,447
NONMETALLIC MINERALS, EXCEPT FUELS - 0.53%
1,241	e	Florida Rock Industries, Inc		83,768
2,474		Vulcan Materials Co		283,372
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		367,140
OIL AND GAS EXTRACTION - 6.97%
7,616		BJ Services Co		216,599
2,860	*	Cameron International Corp		204,404
1,314	e*	Cheniere Energy, Inc		50,970
6,963	e	Chesapeake Energy Corp		240,920
762	e*	CNX Gas Corp		23,317
3,270	*	Denbury Resources, Inc		122,625
1,805		Diamond Offshore Drilling, Inc		183,316
3,589		ENSCO International, Inc		218,965
2,400		Equitable Resources, Inc		118,944
2,349	*	Global Industries Ltd		63,000
5,915		GlobalSantaFe Corp		427,359
1,892	e*	Helix Energy Solutions Group, Inc		75,510
6,357	*	Nabors Industries Ltd		212,197
4,659	d*	National Oilwell Varco, Inc		485,654

169

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,445		Noble Corp	$	335,956
1,425	*	Oceaneering International, Inc		75,012
3,192	*	Pride International, Inc		119,572
1,302	e*	Quicksilver Resources, Inc		58,043
3,843		Range Resources Corp		143,767
2,052		Rowan Cos, Inc		84,091
5,206		Smith International, Inc		305,280
4,411	*	Southwestern Energy Co		196,290
2,095	*	Superior Energy Services		83,632
1,885	e*	Tetra Technologies, Inc		53,157
1,033	e	Tidewater, Inc		73,219
1,500	*	Todco		70,815
942	*	Unit Corp		59,261
558	e	W&T Offshore, Inc		15,618
8,696	*	Weatherford International Ltd		480,367
		TOTAL OIL AND GAS EXTRACTION		4,797,860
PAPER AND ALLIED PRODUCTS - 0.18%
6,190	*	Domtar Corporation		69,080
2,069		Packaging Corp of America		52,366
		TOTAL PAPER AND ALLIED PRODUCTS		121,446
PERSONAL SERVICES - 0.51%
2,681		Cintas Corp		105,712
8,385	e	H&R Block, Inc		195,957
978	e	Weight Watchers International, Inc		49,722
		TOTAL PERSONAL SERVICES		351,391
PETROLEUM AND COAL PRODUCTS - 1.09%
2,472		Cabot Oil & Gas Corp		91,167
1,440		Frontier Oil Corp		63,029
1,174		Holly Corp		87,099
596		Noble Energy, Inc		37,184
3,153		Sunoco, Inc		251,231
3,548		Tesoro Corp		202,768
363		Western Refining, Inc		20,981
		TOTAL PETROLEUM AND COAL PRODUCTS		753,459
PRIMARY METAL INDUSTRIES - 1.84%
2,885	*	AK Steel Holding Corp		107,812
2,653		Allegheny Technologies, Inc		278,247
378	e	Carpenter Technology Corp		49,257
1,216		Chaparral Steel Co		87,394
1,570	*	CommScope, Inc		91,610
1,353	*	General Cable Corp		102,490
460		Hubbell, Inc (Class B)		24,941
3,573		Precision Castparts Corp		433,619
820		Steel Dynamics, Inc		34,366
1,771	e*	Titanium Metals Corp		56,495
		TOTAL PRIMARY METAL INDUSTRIES		1,266,231
PRINTING AND PUBLISHING - 0.62%
1,550	e	Dow Jones & Co, Inc		89,048
1,542		Dun & Bradstreet Corp		158,795
906		Harte-Hanks, Inc		23,266
1,306		John Wiley & Sons, Inc (Class A)		63,067
1,185		Meredith Corp		72,996

170

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
868	e	New York Times Co (Class A)	$	22,047
		TOTAL PRINTING AND PUBLISHING		429,219
RAILROAD TRANSPORTATION - 0.19%
1,945		CSX Corp		87,681
1,170	e*	Kansas City Southern Industries, Inc		43,922
		TOTAL RAILROAD TRANSPORTATION		131,603
REAL ESTATE - 0.73%
5,070	*	CB Richard Ellis Group, Inc (Class A)		185,055
1,930	e	Forest City Enterprises, Inc (Class A)		118,656
989		Jones Lang LaSalle, Inc		112,252
1,931	e	St. Joe Co		89,483
		TOTAL REAL ESTATE		505,446
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.46%
5,446	*	Goodyear Tire & Rubber Co		189,303
3,744		Newell Rubbermaid, Inc		110,186
578		Sealed Air Corp		17,930
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		317,419
SECURITY AND COMMODITY BROKERS - 3.75%
1,700		A.G. Edwards, Inc		143,735
931		BlackRock, Inc		145,785
1,372	e	Cbot Holdings, Inc (Class A)		283,455
4,168	*	E*Trade Financial Corp		92,071
2,865		Eaton Vance Corp		126,576
2,262		Federated Investors, Inc (Class B)		86,702
1,827	*	IntercontinentalExchange, Inc		270,122
1,188	e*	Investment Technology Group, Inc		51,476
3,702		Janus Capital Group, Inc		103,064
1,335		Lazard Ltd (Class A)		60,115
1,410		Legg Mason, Inc		138,716
2,341	*	Nasdaq Stock Market, Inc		69,551
2,063	e	Nuveen Investments, Inc (Class A)		128,215
2,376	e	Nymex Holdings, Inc		298,497
3,358		SEI Investments Co		97,516
6,897		T Rowe Price Group, Inc		357,885
6,450	e*	TD Ameritrade Holding Corp		129,000
		TOTAL SECURITY AND COMMODITY BROKERS		2,582,481
SPECIAL TRADE CONTRACTORS - 0.13%
2,951	e*	Quanta Services, Inc		90,507
		TOTAL SPECIAL TRADE CONTRACTORS		90,507
STONE, CLAY, AND GLASS PRODUCTS - 0.39%
1,327	e	Eagle Materials, Inc		65,089
3,735		Gentex Corp		73,542
3,765	*	Owens-Illinois, Inc		131,775
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		270,406
TOBACCO PRODUCTS - 0.36%
1,655		Loews Corp (Carolina Group)		127,882
2,299	e	UST, Inc		123,479
		TOTAL TOBACCO PRODUCTS		251,361

171

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION BY AIR - 0.93%
6,246	*	AMR Corp	$	164,582
2,527	e*	Continental Airlines, Inc (Class B)		85,589
451	e	Copa Holdings S.A. (Class A)		30,325
6,199	*	Delta Air Lines, Inc		122,120
4,530	*	Northwest Airlines Corp		100,566
4,259	e	Southwest Airlines Co		63,502
1,780	e*	UAL Corp		72,250
		TOTAL TRANSPORTATION BY AIR		638,934
TRANSPORTATION EQUIPMENT - 1.90%
1,220		Autoliv, Inc		69,381
2,382	*	BE Aerospace, Inc		98,377
3,214		Goodrich Corp		191,426
6,687		Harley-Davidson, Inc		398,612
2,185		Harsco Corp		113,620
590		ITT Industries, Inc		40,285
1,923		Oshkosh Truck Corp		120,995
3,386	*	Pactiv Corp		107,980
1,410	*	Spirit Aerosystems Holdings, Inc (Class A)		50,831
818	e	Thor Industries, Inc		36,925
1,823	e	Trinity Industries, Inc		79,373
		TOTAL TRANSPORTATION EQUIPMENT		1,307,805
TRANSPORTATION SERVICES - 0.80%
4,395		CH Robinson Worldwide, Inc		230,825
5,534		Expeditors International Washington, Inc		228,554
518	e	GATX Corp		25,512
2,506		UTI Worldwide, Inc		67,136
		TOTAL TRANSPORTATION SERVICES		552,027
TRUCKING AND WAREHOUSING - 0.28%
924		Con-way, Inc		46,422
2,529		J.B. Hunt Transport Services, Inc		74,150
1,534		Landstar System, Inc		74,016
		TOTAL TRUCKING AND WAREHOUSING		194,588
WATER TRANSPORTATION - 0.16%
1,260		Frontline Ltd		57,771
1,434	*	Kirby Corp		55,051
		TOTAL WATER TRANSPORTATION		112,822
WHOLESALE TRADE-DURABLE GOODS - 1.17%
1,758	*	Arrow Electronics, Inc		67,560
299		BorgWarner, Inc		25,726
2,993	*	Cytyc Corp		129,028
1,107		Martin Marietta Materials, Inc		179,356
3,613	*	Patterson Cos, Inc		134,657
1,281	e	Pool Corp		49,997
170		Reliance Steel & Aluminum Co		9,564
1,518		W.W. Grainger, Inc		141,250
1,184	*	WESCO International, Inc		71,573
		TOTAL WHOLESALE TRADE-DURABLE GOODS		808,711
WHOLESALE TRADE-NONDURABLE GOODS - 0.82%
1,726		Airgas, Inc		82,675
969	e*	Bare Escentuals, Inc		33,091
1,422	e	Brown-Forman Corp (Class B)		103,920

172

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,474	*	Endo Pharmaceuticals Holdings, Inc	$	118,915
2,307	*	Henry Schein, Inc		123,263
1,280	e	Herbalife Ltd		50,752
942	e*	Tractor Supply Co		49,027
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		561,643
		TOTAL COMMON STOCKS
		(Cost $55,412,371)		68,758,274
SHORT-TERM INVESTMENTS - 13.43%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 13.43%
9,241,938		State Street Navigator Securities Lending Prime Portfolio		9,241,938
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $9,241,938)		9,241,938
		TOTAL PORTFOLIO - 113.32%
		(Cost $64,654,309)		78,000,212
		OTHER ASSETS & LIABILITIES, NET - (13.32)%		(9,170,472	)
		NET ASSETS - 100.00%	$	68,829,740
	*	Non-income producing.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other
		requirements on open futures contracts in the amount of $12,926.
	e	All or a portion of these securities are out on loan.

173

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.70%
AMUSEMENT AND RECREATION SERVICES - 0.43%
7,041		Harrah's Entertainment, Inc	$	600,316
3,146		International Speedway Corp (Class A)		165,826
1,687		Warner Music Group Corp		24,377
		TOTAL AMUSEMENT AND RECREATION SERVICES		790,519
APPAREL AND ACCESSORY STORES - 0.73%
1,229	*	AnnTaylor Stores Corp		43,531
13,595		Foot Locker, Inc		296,371
53,082		Gap, Inc		1,013,866
		TOTAL APPAREL AND ACCESSORY STORES		1,353,768
APPAREL AND OTHER TEXTILE PRODUCTS - 0.71%
9,641		Jones Apparel Group, Inc		272,358
8,625	e	Liz Claiborne, Inc		321,713
7,970		VF Corp		729,893
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,323,964
AUTO REPAIR, SERVICES AND PARKING - 0.30%
9,739	*	Hertz Global Holdings, Inc		258,765
5,540		Ryder System, Inc		298,052
		TOTAL AUTO REPAIR, SERVICES AND PARKING		556,817
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.22%
14,288	*	Autonation, Inc		320,623
4,326		United Auto Group Inc		92,101
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		412,724
BUSINESS SERVICES - 3.34%
4,979	*	Affiliated Computer Services, Inc (Class A)		282,409
5,226	*	Avis Budget Group, Inc		148,575
13,666		CA, Inc		352,993
17,838	*	Cadence Design Systems, Inc		391,722
1,171	*	Ceridian Corp		40,985
1,511	e*	Checkfree Corp		60,742
15,591	*	Computer Sciences Corp		922,208
5,345	e*	Compuware Corp		63,392
12,023	*	Convergys Corp		291,438
18,922		Electronic Data Systems Corp		524,707
17,896	*	Expedia, Inc		524,174
4,573		Fair Isaac Corp		183,469
2,678		Fidelity National Information Services, Inc		145,362
2,260	*	Getty Images, Inc		108,051
1,856		IMS Health, Inc		59,633
15,897	e*	Interpublic Group of Cos, Inc		181,226
14,213	*	Juniper Networks, Inc		357,741
859	*	Kinetic Concepts, Inc		44,642
13,808	*	NCR Corp		725,472
26,900	*	Novell, Inc		209,551

174

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,070		ServiceMaster Co	$	78,382
31,152	*	Unisys Corp		284,729
7,232	*	United Rentals, Inc		235,329
		TOTAL BUSINESS SERVICES		6,216,932
CHEMICALS AND ALLIED PRODUCTS - 4.15%
10,165		Air Products & Chemicals, Inc		816,961
5,830		Alberto-Culver Co		138,288
977		Avery Dennison Corp		64,951
3,031		Avon Products, Inc		111,389
1,598		Cabot Corp		76,193
4,104		Celanese Corp (Series A)		159,153
3,925	*	Charles River Laboratories International, Inc		202,609
20,126		Chemtura Corp		223,600
1,537		Clorox Co		95,448
3,758		Cytec Industries, Inc		239,648
7,418		Eastman Chemical Co		477,200
3,551		FMC Corp		317,424
7,892		Huntsman Corp		191,855
2,089		International Flavors & Fragrances, Inc		108,920
2,741	*	Invitrogen Corp		202,149
21,994	e*	King Pharmaceuticals, Inc		449,997
4,520		Lubrizol Corp		291,766
20,327		Lyondell Chemical Co		754,538
13,290	*	Millennium Pharmaceuticals, Inc		140,475
7,821	*	Mosaic Co		305,175
14,533		PPG Industries, Inc		1,106,107
6,192		Rohm & Haas Co		338,579
1,501		RPM International, Inc		34,688
3,137	e	Scotts Miracle-Gro Co (Class A)		134,703
8,115		Sigma-Aldrich Corp		346,267
8,006		Valspar Corp		227,450
3,803	*	Watson Pharmaceuticals, Inc		123,712
1,196	e	Westlake Chemical Corp		33,632
		TOTAL CHEMICALS AND ALLIED PRODUCTS		7,712,877
COMMUNICATIONS - 4.32%
29,713	*	Avaya, Inc		500,367
13,080	*	Cablevision Systems Corp (Class A)		473,365
278	*	Central European Media Enterprises Ltd (Class A)		27,127
9,733		CenturyTel, Inc		477,404
23,758		Citizens Communications Co		362,785
2,057	*	Clearwire Corp (Class A)		50,253
3,735	*	Crown Castle International Corp		135,468
13,524		Embarq Corp		857,016
2,230		Hearst-Argyle Television, Inc		53,743
14,357	e*	IAC/InterActiveCorp		496,896
16,688	e*	Liberty Global, Inc (Class A)		684,876
11,421	*	Liberty Media Corp - Capital (Series A)		1,344,023
23,135	*	Liberty Media Holding Corp (Interactive A)		516,605
143,552	e*	Qwest Communications International, Inc		1,392,454
4,938		Telephone & Data Systems, Inc		308,971
999	*	US Cellular Corp		90,509
18,391		Windstream Corp		271,451
		TOTAL COMMUNICATIONS		8,043,313

175

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
DEPOSITORY INSTITUTIONS - 7.68%
11,287		Associated Banc-Corp	$	369,085
8,312		Astoria Financial Corp		208,132
7,292		Bancorpsouth, Inc		178,362
2,753		Bank of Hawaii Corp		142,165
1,940		BOK Financial Corp		103,635
600	e	Capitol Federal Financial		22,152
3,782		City National Corp		287,772
14,042		Colonial Bancgroup, Inc		350,629
13,806		Comerica, Inc		821,043
12,080	e	Commerce Bancorp, Inc		446,839
6,369	e	Commerce Bancshares, Inc		288,516
11,728		Compass Bancshares, Inc		808,997
5,246		Cullen/Frost Bankers, Inc		280,504
5,406	e	East West Bancorp, Inc		210,185
541		First Citizens Bancshares, Inc (Class A)		105,170
11,192	e	First Horizon National Corp		436,488
15,766	e	Fulton Financial Corp		227,346
26,969		Hudson City Bancorp, Inc		329,561
20,880	e	Huntington Bancshares, Inc		474,811
6,254	e	IndyMac Bancorp, Inc		182,429
34,730		Keycorp		1,192,281
6,075		M&T Bank Corp		649,418
22,988		Marshall & Ilsley Corp		1,094,918
27,841	e	New York Community Bancorp, Inc		473,854
2,952		Northern Trust Corp		189,636
5,770		People's United Financial, Inc		102,302
25,281		Popular, Inc		406,266
9,734		Sky Financial Group, Inc		271,189
37,542		Sovereign Bancorp, Inc		793,638
15,250		Synovus Financial Corp		468,175
10,973		TCF Financial Corp		305,049
4,234		UnionBanCal Corp		252,770
11,141	e	Valley National Bancorp		250,561
1		Wachovia Corp		51
8,046		Washington Federal, Inc		195,598
4,818		Webster Financial Corp		205,584
5,770		Whitney Holding Corp		173,677
6,192		Wilmington Trust Corp		257,030
9,631		Zions Bancorporation		740,720
		TOTAL DEPOSITORY INSTITUTIONS		14,296,538
EDUCATIONAL SERVICES - 0.01%
331	*	Laureate Education, Inc		20,409
		TOTAL EDUCATIONAL SERVICES		20,409
ELECTRIC, GAS, AND SANITARY SERVICES - 13.34%
7,073		AGL Resources, Inc		286,315
10,070		Alliant Energy Corp		391,220
21,400	*	Allied Waste Industries, Inc		288,044
18,652		Ameren Corp		914,135
35,301		American Electric Power Co, Inc		1,589,957
6,887		Aqua America, Inc		154,889
7,916		Atmos Energy Corp		237,955
20,087		CMS Energy Corp		345,496
23,519		Consolidated Edison, Inc		1,061,177
3,575		Constellation Energy Group, Inc		311,633
4,645	e	DPL, Inc		131,639

176

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
15,585		DTE Energy Co	$	751,509
25,092	*	Dynegy, Inc (Class A)		236,868
28,843		Edison International		1,618,669
61,531		El Paso Corp		1,060,179
6,349		Energen Corp		348,814
14,348		Energy East Corp		374,339
7,797		Great Plains Energy, Inc		227,049
7,460	e	Hawaiian Electric Industries, Inc		176,727
6,778	e	Integrys Energy Group, Inc		343,848
15,885		KeySpan Corp		666,852
16,340		MDU Resources Group, Inc		458,174
7,133	*	Mirant Corp		304,222
7,624	e	National Fuel Gas Co		330,195
24,764		NiSource, Inc		512,862
13,944		Northeast Utilities		395,452
4,182	*	NRG Energy, Inc		173,846
9,695		NSTAR		314,603
8,244		OGE Energy Corp		302,143
10,007		Oneok, Inc		504,453
17,286	e	Pepco Holdings, Inc		487,465
31,115		PG&E Corp		1,409,510
9,010		Pinnacle West Capital Corp		359,049
8,678		PPL Corp		406,044
22,972		Progress Energy, Inc		1,047,293
10,539		Puget Energy, Inc		254,833
9,373		Questar Corp		495,363
30,816	*	Reliant Energy, Inc		830,491
1,322		Republic Services, Inc		40,506
10,481		SCANA Corp		401,317
23,529		Sempra Energy		1,393,623
16,723	*	Sierra Pacific Resources		293,656
9,675		Southern Union Co		315,308
18,962		TECO Energy, Inc		325,767
9,564		UGI Corp		260,906
7,012	e	Vectren Corp		188,833
8,643		Williams Cos, Inc		273,292
10,623		Wisconsin Energy Corp		469,855
36,831		Xcel Energy, Inc		753,931
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		24,820,306
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 3.90%
10,384	*	ADC Telecommunications, Inc		190,339
29,010	e*	Advanced Micro Devices, Inc		414,843
43,281	*	Atmel Corp		240,642
5,462	*	Avnet, Inc		216,514
3,504		AVX Corp		58,657
10,988		Cooper Industries Ltd (Class A)		627,305
5,600	e*	Cree, Inc		144,760
11,439		Eaton Corp		1,063,827
1,408	*	Energizer Holdings, Inc		140,237
6,441	*	Fairchild Semiconductor International, Inc		124,440
11,633	*	Integrated Device Technology, Inc		177,636
4,968	*	International Rectifier Corp		185,108
5,529		Intersil Corp (Class A)		173,942
2,378	*	Jarden Corp		102,278
8,239	*	JDS Uniphase Corp		110,650
7,356		L-3 Communications Holdings, Inc		716,401

177

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,161		Lincoln Electric Holdings, Inc	$	86,193
27,743	*	LSI Logic Corp		208,350
45,131	*	Micron Technology, Inc		565,491
5,239		Molex, Inc		157,222
4,071	*	Novellus Systems, Inc		115,494
1,432	*	QLogic Corp		23,843
3,577		RadioShack Corp		118,542
1,158	e*	Rambus, Inc		20,821
36,380	e*	Sanmina-SCI Corp		113,869
3,652		Teleflex, Inc		298,661
39,293	*	Tellabs, Inc		422,793
13,432	*	Vishay Intertechnology, Inc		212,494
2,004		Whirlpool Corp		222,845
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		7,254,197
ENGINEERING AND MANAGEMENT SERVICES - 0.41%
3,248	*	Hewitt Associates, Inc (Class A)		103,936
14,942	*	KBR, Inc		391,929
1,011		Quest Diagnostics, Inc		52,218
682	*	Shaw Group, Inc		31,570
3,740	*	URS Corp		181,577
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		761,230
FABRICATED METAL PRODUCTS - 1.35%
408	*	Alliant Techsystems, Inc		40,453
10,925		Commercial Metals Co		368,937
4,509		Crane Co		204,934
10,229		Parker Hannifin Corp		1,001,521
8,834		Pentair, Inc		340,727
5,115		Snap-On, Inc		258,359
5,013		Stanley Works		304,289
		TOTAL FABRICATED METAL PRODUCTS		2,519,220
FOOD AND KINDRED PRODUCTS - 4.28%
10,647		Bunge Ltd		899,672
8,720		Campbell Soup Co		338,423
27,732		Coca-Cola Enterprises, Inc		665,568
44,092		ConAgra Foods, Inc		1,184,311
16,759	*	Constellation Brands, Inc (Class A)		406,909
6,730		Corn Products International, Inc		305,879
18,231		Del Monte Foods Co		221,689
13,140		H.J. Heinz Co		623,756
4,320		Hershey Co		218,678
6,687		Hormel Foods Corp		249,759
5,282		J.M. Smucker Co		336,252
3,432		McCormick & Co, Inc		131,034
4,793		Molson Coors Brewing Co (Class B)		443,161
8,808		Pepsi Bottling Group, Inc		296,653
5,791		PepsiAmericas, Inc		142,227
31,016		Sara Lee Corp		539,678
9,826	*	Smithfield Foods, Inc		302,543
22,496		Tyson Foods, Inc (Class A)		518,308
2,494		Wrigley (Wm.) Jr Co		137,943
		TOTAL FOOD AND KINDRED PRODUCTS		7,962,443
FOOD STORES - 1.18%
39,092		Safeway, Inc		1,330,301

178

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
18,587		Supervalu, Inc	$	860,950
		TOTAL FOOD STORES		2,191,251
FORESTRY - 0.15%
6,312		Rayonier, Inc		284,924
		TOTAL FORESTRY		284,924
FURNITURE AND FIXTURES - 0.82%
4,424		Hillenbrand Industries, Inc		287,560
15,067		Leggett & Platt, Inc		332,227
31,498		Masco Corp		896,748
		TOTAL FURNITURE AND FIXTURES		1,516,535
FURNITURE AND HOMEFURNISHINGS STORES - 0.35%
8,578	e	Circuit City Stores, Inc		129,356
4,874	e*	Mohawk Industries, Inc		491,250
1,559		Steelcase, Inc (Class A)		28,842
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		649,448
GENERAL BUILDING CONTRACTORS - 1.42%
10,002		Centex Corp		401,080
27,614		DR Horton, Inc		550,347
6,760	e	KB Home		266,141
11,998		Lennar Corp (Class A)		438,647
2,967		MDC Holdings, Inc		143,484
231	*	NVR, Inc		157,022
12,044	e	Pulte Homes, Inc		270,388
3,720	e	Ryland Group, Inc		139,016
11,157	e*	Toll Brothers, Inc		278,702
		TOTAL GENERAL BUILDING CONTRACTORS		2,644,827
GENERAL MERCHANDISE STORES - 0.25%
6,151	*	BJ's Wholesale Club, Inc		221,621
5,749	e	Dillard's, Inc (Class A)		206,562
1,746		Saks, Inc		37,277
		TOTAL GENERAL MERCHANDISE STORES		465,460
HEALTH SERVICES - 1.26%
9,169		AmerisourceBergen Corp		453,590
2,279		Brookdale Senior Living, Inc		103,854
7,748	*	Community Health Systems, Inc		313,407
899	*	Coventry Health Care, Inc		51,827
20,183		Health Management Associates, Inc (Class A)		229,279
5,109	*	LifePoint Hospitals, Inc		197,616
9,456		Omnicare, Inc		340,983
10,226	e*	Tenet Healthcare Corp		66,571
7,398	*	Triad Hospitals, Inc		397,716
3,010		Universal Health Services, Inc (Class B)		185,115
		TOTAL HEALTH SERVICES		2,339,958
HOLDING AND OTHER INVESTMENT OFFICES - 11.20%
13,500	e	Allied Capital Corp		417,960
8,986		AMB Property Corp		478,235
23,190		Annaly Mortgage Management, Inc		334,400
8,136		Apartment Investment & Management Co (Class A)		410,217
19,607		Archstone-Smith Trust		1,158,970
7,139		AvalonBay Communities, Inc		848,684

179

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
9,070		Boston Properties, Inc	$	926,319
8,248		Brandywine Realty Trust		235,728
4,660	e	BRE Properties, Inc (Class A)		276,291
5,116		Camden Property Trust		342,619
5,837		CBL & Associates Properties, Inc		210,424
4,174		Colonial Properties Trust		152,142
10,771		Developers Diversified Realty Corp		567,739
7,616		Douglas Emmett, Inc		188,420
3,259		Duke Realty Corp		116,249
25,739		Equity Residential		1,174,471
1,152	e	Essex Property Trust, Inc		133,978
2,463		Federal Realty Investment Trust		190,291
8,408		General Growth Properties, Inc		445,204
18,010		Health Care Property Investors, Inc		521,029
6,238		Health Care REIT, Inc		251,766
8,453		Hospitality Properties Trust		350,715
46,213		Host Marriott Corp		1,068,445
19,089		HRPT Properties Trust		198,526
18,515		iShares Russell Midcap Value Index Fund		2,915,372
11,463		iStar Financial, Inc		508,155
19,009		Kimco Realty Corp		723,673
8,098	e	Liberty Property Trust		355,745
6,155		Mack-Cali Realty Corp		267,681
14,427		Plum Creek Timber Co, Inc		601,029
2,840		Prologis		161,596
10,196		Public Storage, Inc		783,257
6,225		Regency Centers Corp		438,863
5,260		SL Green Realty Corp		651,661
2,266		Taubman Centers, Inc		112,416
7,659	*	TFS Financial Corp		88,385
10,967		Thornburg Mortgage, Inc		287,116
26,412		Virgin Media, Inc		643,660
11,875		Vornado Realty Trust		1,304,350
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		20,841,781
HOTELS AND OTHER LODGING PLACES - 0.37%
1,628	e	Station Casinos, Inc		141,310
14,946	*	Wyndham Worldwide Corp		541,942
		TOTAL HOTELS AND OTHER LODGING PLACES		683,252
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.06%
2,817	*	AGCO Corp		122,286
2,820		Black & Decker Corp		249,034
3,985		Carlisle Cos, Inc		185,342
12,267		Dover Corp		627,457
574		Flowserve Corp		41,098
4,680	*	Gardner Denver, Inc		199,134
25,045		Ingersoll-Rand Co Ltd (Class A)		1,372,967
6,027		Jabil Circuit, Inc		133,016
1,448		Kennametal, Inc		118,779
4,422		Lennox International, Inc		151,365
3,816	*	Lexmark International, Inc (Class A)		188,167
1,034		Pall Corp		47,554
8,201	*	SanDisk Corp		401,357
29,886		Seagate Technology, Inc		650,618
54,321	*	Solectron Corp		199,901
5,038		SPX Corp		442,387

180

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,083		Timken Co	$	291,877
13,732	*	Western Digital Corp		265,714
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		5,688,053
INSTRUMENTS AND RELATED PRODUCTS - 2.14%
12,788		Applera Corp (Applied Biosystems Group)		390,546
3,770	e	Bausch & Lomb, Inc		261,789
1,009		Beckman Coulter, Inc		65,262
2,364	e	Cooper Cos, Inc		126,048
3,210		DRS Technologies, Inc		183,837
25,742	e	Eastman Kodak Co		716,400
7,774		PerkinElmer, Inc		202,590
3,539		Pitney Bowes, Inc		165,696
5,482		Tektronix, Inc		184,963
8,312	*	Teradyne, Inc		146,125
82,976	*	Xerox Corp		1,533,396
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		3,976,652
INSURANCE AGENTS, BROKERS AND SERVICE - 0.97%
26,134		AON Corp		1,113,570
7,002	e	Gallagher (Arthur J.) & Co		195,216
807		White Mountains Insurance Group Ltd		489,058
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		1,797,844
INSURANCE CARRIERS - 9.83%
447	e*	Alleghany Corp		181,706
5,346		Allied World Assurance Holdings Ltd		273,983
9,023		Ambac Financial Group, Inc		786,715
7,746	e	American Financial Group, Inc		264,526
1,287		American National Insurance Co		196,396
4,503	*	Arch Capital Group Ltd		326,648
10,759		Assurant, Inc		633,920
13,610		Axis Capital Holdings Ltd		553,247
14,228		Cincinnati Financial Corp		617,495
2,030	e	CNA Financial Corp		96,811
16,406	*	Conseco, Inc		342,721
5,069		Endurance Specialty Holdings Ltd		202,963
3,445		Erie Indemnity Co (Class A)		186,168
5,592		Everest Re Group Ltd		607,515
19,466		Fidelity National Title Group, Inc (Class A)		461,344
8,553		First American Corp		423,374
38,207		Genworth Financial, Inc (Class A)		1,314,321
4,133		Hanover Insurance Group, Inc		201,649
5,637		HCC Insurance Holdings, Inc		188,332
14,826	e	Leucadia National Corp		522,617
881	*	Markel Corp		426,897
11,578		MBIA, Inc		720,383
2,300		Mercury General Corp		126,753
7,536	e	MGIC Investment Corp		428,497
4,441		Nationwide Financial Services, Inc (Class A)		280,760
20,871		Old Republic International Corp		443,717
1,995		OneBeacon Insurance Group Ltd		50,533
3,896		PartnerRe Ltd		301,940
930	*	Philadelphia Consolidated Holding Co		38,874
7,875		PMI Group, Inc		351,776
22,377		Principal Financial Group		1,304,355
6,341		Protective Life Corp		303,163

181

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,258		Radian Group, Inc	$	391,932
2,680		Reinsurance Group Of America, Inc		161,443
6,397		RenaissanceRe Holdings Ltd		396,550
9,560		Safeco Corp		595,206
4,968		Stancorp Financial Group, Inc		260,721
8,454		Torchmark Corp		566,418
1,560		Transatlantic Holdings, Inc		110,963
4,325		Unitrin, Inc		212,704
30,347		UnumProvident Corp		792,360
11,028		W.R. Berkley Corp		358,851
144		Wesco Financial Corp		55,440
14,535		XL Capital Ltd (Class A)		1,225,155
		TOTAL INSURANCE CARRIERS		18,287,842
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.14%
7,453		Laidlaw International, Inc		257,501
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		257,501
LUMBER AND WOOD PRODUCTS - 0.10%
9,783		Louisiana-Pacific Corp		185,094
		TOTAL LUMBER AND WOOD PRODUCTS		185,094
MISCELLANEOUS MANUFACTURING INDUSTRIES - 1.06%
1,720	*	Armstrong World Industries, Inc		86,258
13,513		Fortune Brands, Inc		1,113,066
9,355		Hasbro, Inc		293,841
19,223		Mattel, Inc		486,150
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,979,315
MISCELLANEOUS RETAIL - 0.30%
4,151		Barnes & Noble, Inc		159,689
3,613		OfficeMax, Inc		141,991
41,153	e*	Rite Aid Corp		262,556
		TOTAL MISCELLANEOUS RETAIL		564,236
MOTION PICTURES - 0.17%
11,119	*	Discovery Holding Co (Class A)		255,626
1,416	*	DreamWorks Animation SKG, Inc (Class A)		40,837
740	e	Regal Entertainment Group (Class A)		16,228
		TOTAL MOTION PICTURES		312,691
NONDEPOSITORY INSTITUTIONS - 1.06%
14,671		American Capital Strategies Ltd		623,811
9,729	e*	AmeriCredit Corp		258,305
3,381	e	CapitalSource, Inc		83,139
16,977		CIT Group, Inc		930,849
390		Student Loan Corp		79,521
		TOTAL NONDEPOSITORY INSTITUTIONS		1,975,625
OIL AND GAS EXTRACTION - 2.23%
17,007	e	Chesapeake Energy Corp		588,442
7,496	e	Cimarex Energy Co		295,417
1,274	*	Continental Resources, Inc		20,384
964		ENSCO International, Inc		58,814
1,556		Equitable Resources, Inc		77,115
7,084	e*	Forest Oil Corp		299,370
1,633	*	Helix Energy Solutions Group, Inc		65,173

182

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
9,148		Helmerich & Payne, Inc	$	324,022
2,937	*	Nabors Industries Ltd		98,037
13,872		Patterson-UTI Energy, Inc		363,585
11,135		Pioneer Natural Resources Co		542,386
6,331	*	Plains Exploration & Production Co		302,685
5,259	e	Pogo Producing Co		267,105
3,803	*	Pride International, Inc		142,460
2,800		Rowan Cos, Inc		114,744
2,093	*	SEACOR Holdings, Inc		195,402
5,312		St. Mary Land & Exploration Co		194,525
1,773	e	Tidewater, Inc		125,670
895	*	Unit Corp		56,304
889		W&T Offshore, Inc		24,883
		TOTAL OIL AND GAS EXTRACTION		4,156,523
PAPER AND ALLIED PRODUCTS - 1.28%
9,517		Bemis Co		315,774
19,637	*	Domtar Corporation		219,149
16,452		MeadWestvaco Corp		581,085
23,105	*	Smurfit-Stone Container Corp		307,528
8,993		Sonoco Products Co		384,990
9,368		Temple-Inland, Inc		576,413
		TOTAL PAPER AND ALLIED PRODUCTS		2,384,939
PERSONAL SERVICES - 0.25%
2,871		Cintas Corp		113,204
26,860		Service Corp International		343,271
		TOTAL PERSONAL SERVICES		456,475
PETROLEUM AND COAL PRODUCTS - 2.36%
5,166		Ashland, Inc		330,366
4,744		Frontier Oil Corp		207,645
24,686		Hess Corp		1,455,487
16,655	e	Murphy Oil Corp		989,973
11,680	*	Newfield Exploration Co		532,024
12,978		Noble Energy, Inc		809,697
1,158	e	Western Refining, Inc		66,932
		TOTAL PETROLEUM AND COAL PRODUCTS		4,392,124
PIPELINES, EXCEPT NATURAL GAS - 0.78%
55,706		Spectra Energy Corp		1,446,128
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,446,128
PRIMARY METAL INDUSTRIES - 0.91%
987		Carpenter Technology Corp		128,616
3,511		Hubbell, Inc (Class B)		190,366
5,572		Steel Dynamics, Inc		233,523
10,473		United States Steel Corp		1,138,939
		TOTAL PRIMARY METAL INDUSTRIES		1,691,444
PRINTING AND PUBLISHING - 2.04%
7,974	e	EW Scripps Co (Class A)		364,332
20,773		Gannett Co, Inc		1,141,476
800		Harte-Hanks, Inc		20,544
4,586	e	McClatchy Co (Class A)		116,072
9,473	e	New York Times Co (Class A)		240,614
6,145	*	R.H. Donnelley Corp		465,668

183

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
19,629		R.R. Donnelley & Sons Co	$	854,058
7,374		Tribune Co		216,796
485		Washington Post Co (Class B)		376,404
		TOTAL PRINTING AND PUBLISHING		3,795,964
RAILROAD TRANSPORTATION - 0.83%
32,083	d	CSX Corp		1,446,302
2,736	e*	Kansas City Southern Industries, Inc		102,709
		TOTAL RAILROAD TRANSPORTATION		1,549,011
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.39%
11,922		Newell Rubbermaid, Inc		350,864
12,328		Sealed Air Corp		382,415
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		733,279
SECURITY AND COMMODITY BROKERS - 1.99%
961		A.G. Edwards, Inc		81,253
20,737		Ameriprise Financial, Inc		1,318,251
2,430		BlackRock, Inc		380,514
23,582	*	E*Trade Financial Corp		520,926
3,811		Janus Capital Group, Inc		106,098
11,387		Jefferies Group, Inc		307,221
6,861		Legg Mason, Inc		674,985
1,996	*	Nasdaq Stock Market, Inc		59,301
8,230	e	Raymond James Financial, Inc		254,307
		TOTAL SECURITY AND COMMODITY BROKERS		3,702,856
STONE, CLAY, AND GLASS PRODUCTS - 0.37%
9,568	e*	Owens Corning, Inc		321,772
652	*	Owens-Illinois, Inc		22,820
7,094	e*	USG Corp		347,890
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		692,482
TOBACCO PRODUCTS - 0.35%
3,906		Loews Corp (Carolina Group)		301,817
6,508	e	UST, Inc		349,545
		TOTAL TOBACCO PRODUCTS		651,362
TRANSPORTATION BY AIR - 0.74%
7,850	*	Northwest Airlines Corp		174,270
54,610	e	Southwest Airlines Co		814,235
4,163	*	UAL Corp		168,976
7,204	*	US Airways Group, Inc		218,065
		TOTAL TRANSPORTATION BY AIR		1,375,546
TRANSPORTATION EQUIPMENT - 2.08%
2,876		Autoliv, Inc		163,558
7,816		Brunswick Corp		255,036
160,971	e*	Ford Motor Co		1,516,347
15,082		Genuine Parts Co		748,067
14,059		ITT Industries, Inc		959,949
1,350	*	Spirit Aerosystems Holdings, Inc (Class A)		48,668
894	e	Trinity Industries, Inc		38,925
3,823	*	TRW Automotive Holdings Corp		140,801
		TOTAL TRANSPORTATION EQUIPMENT		3,871,351

184

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION SERVICES - 0.07%
2,672	e	GATX Corp	$	131,596
		TOTAL TRANSPORTATION SERVICES		131,596
TRUCKING AND WAREHOUSING - 0.13%
889		Con-way, Inc		44,663
5,254	e*	YRC Worldwide, Inc		193,347
		TOTAL TRUCKING AND WAREHOUSING		238,010
WATER TRANSPORTATION - 0.62%
4,036		Alexander & Baldwin, Inc		214,352
2,855		Overseas Shipholding Group, Inc		232,397
11,794		Royal Caribbean Cruises Ltd		506,906
3,504		Teekay Corp		202,917
		TOTAL WATER TRANSPORTATION		1,156,572
WHOLESALE TRADE-DURABLE GOODS - 0.76%
4,934	*	Arrow Electronics, Inc		189,614
4,077		BorgWarner, Inc		350,785
12,709	*	Ingram Micro, Inc (Class A)		275,912
5,247		Reliance Steel & Aluminum Co		295,196
5,149	e*	Tech Data Corp		198,031
1,127		W.W. Grainger, Inc		104,867
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,414,405
WHOLESALE TRADE-NONDURABLE GOODS - 0.52%
493		Airgas, Inc		23,615
1,953	e	Brown-Forman Corp (Class B)		142,725
10,749		Dean Foods Co		342,571
12,991		Idearc, Inc		458,968
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		967,879
		TOTAL COMMON STOCKS
		(Cost $157,988,975)		185,495,492
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 8.75%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.11%
$     210,000	d	Federal Home Loan Bank, 07/02/07		210,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 8.64%
16,075,497		State Street Navigator Securities Lending Prime Portfolio		16,075,497
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $16,285,469)		16,285,497
		TOTAL PORTFOLIO - 108.45%
		(Cost $174,274,444)		201,780,989
		OTHER ASSETS & LIABILITIES, NET - (8.45)%		(15,721,015	)
		NET ASSETS - 100.00%	$	186,059,974
	*	Non-income producing.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other
		requirements on open futures contracts in the amount of $268,520.
	e	All or a portion of these securities are out on loan.

185

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.81%
AMUSEMENT AND RECREATION SERVICES - 0.59%
10,875	*	Activision, Inc	$	203,036
7,308		Harrah's Entertainment, Inc		623,080
1,480		International Speedway Corp (Class A)		78,011
2,862	*	Penn National Gaming, Inc		171,978
1,373		Warner Music Group Corp		19,840
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,095,945
APPAREL AND ACCESSORY STORES - 1.33%
3,435		Abercrombie & Fitch Co (Class A)		250,686
6,992		American Eagle Outfitters, Inc		179,415
2,660	*	AnnTaylor Stores Corp		94,217
6,795	*	Chico's FAS, Inc		165,390
5,962		Foot Locker, Inc		129,972
22,486		Gap, Inc		429,483
3,631	*	Hanesbrands, Inc		98,146
13,527		Limited Brands, Inc		371,316
9,786		Nordstrom, Inc		500,260
5,329		Ross Stores, Inc		164,133
4,474	*	Urban Outfitters, Inc		107,510
		TOTAL APPAREL AND ACCESSORY STORES		2,490,528
APPAREL AND OTHER TEXTILE PRODUCTS - 0.56%
2,043		Guess ?, Inc		98,146
4,176		Jones Apparel Group, Inc		117,972
4,010	e	Liz Claiborne, Inc		149,573
2,041		Phillips-Van Heusen Corp		123,623
2,393		Polo Ralph Lauren Corp		234,777
3,427	e	VF Corp		313,845
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,037,936
AUTO REPAIR, SERVICES AND PARKING - 0.24%
11,869	*	Hertz Global Holdings, Inc		315,359
2,487	e	Ryder System, Inc		133,801
		TOTAL AUTO REPAIR, SERVICES AND PARKING		449,160
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.59%
4,087		Advance Auto Parts		165,646
6,043	*	Autonation, Inc		135,605
1,780	*	Autozone, Inc		243,184
8,190	*	Carmax, Inc		208,845
2,622	*	Copart, Inc		80,207
4,379	*	O'Reilly Automotive, Inc		160,052
2,322		United Auto Group, Inc		49,435
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,042,974

186

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.11%
4,854	e	Fastenal Co	$	203,188
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		203,188
BUSINESS SERVICES - 7.06%
2,435		Acxiom Corp		64,406
3,550	*	Affiliated Computer Services, Inc (Class A)		201,356
830		Aircastle Ltd		33,042
6,377	*	Akamai Technologies, Inc		310,177
3,032	*	Alliance Data Systems Corp		234,313
7,366	*	Amdocs Ltd		293,314
2,712	e*	aQuantive, Inc		173,026
8,854	*	Autodesk, Inc		416,846
3,435	*	Avis Budget Group, Inc		97,657
15,048	*	BEA Systems, Inc		206,007
7,695	*	BMC Software, Inc		233,159
1,674		Brink's Co		103,604
15,803		CA, Inc		408,191
10,680	*	Cadence Design Systems, Inc		234,533
5,677	*	Ceridian Corp		198,695
2,654	e*	Cerner Corp		147,217
3,052	e*	Checkfree Corp		122,690
2,919	*	ChoicePoint, Inc		123,912
6,929	*	Citrix Systems, Inc		233,299
1,310	e*	Clear Channel Outdoor Holdings, Inc (Class A)		37,125
5,540	*	Cognizant Technology Solutions Corp (Class A)		415,999
6,648	*	Computer Sciences Corp		393,229
11,556	e*	Compuware Corp		137,054
5,252	*	Convergys Corp		127,308
2,072	*	DST Systems, Inc		164,123
11,953	*	Electronic Arts, Inc		565,616
19,528		Electronic Data Systems Corp		541,511
5,582		Equifax, Inc		247,952
7,802	e*	Expedia, Inc		228,521
1,645	*	F5 Networks, Inc		132,587
1,695		Factset Research Systems, Inc		115,853
2,261		Fair Isaac Corp		90,711
7,396		Fidelity National Information Services, Inc		401,455
6,453	*	Fiserv, Inc		366,530
2,035	*	Getty Images, Inc		97,293
6,617	*	HLTH Corp		92,704
7,528		IMS Health, Inc		241,875
17,999	e*	Interpublic Group of Cos, Inc		205,189
12,919	*	Intuit, Inc		388,604
7,028	*	Iron Mountain, Inc		183,642
21,891	*	Juniper Networks, Inc		550,996
1,817	*	Kinetic Concepts, Inc		94,429
3,174		Lamar Advertising Co (Class A)		199,200
3,243	e	Manpower, Inc		299,134
3,058	e	Mastercard, Inc (Class A)		507,230
6,120	*	McAfee, Inc		215,424
3,313		MoneyGram International, Inc		92,598
4,826	*	Monster Worldwide, Inc		198,349
3,747	*	NAVTEQ Corp		158,648

187

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,902	*	NCR Corp	$	362,631
14,319	*	Novell, Inc		111,545
7,528	*	Red Hat, Inc		167,724
5,642		Robert Half International, Inc		205,933
3,621	e*	Salesforce.com, Inc		155,196
11,220		ServiceMaster Co		173,461
5,660	*	Synopsys, Inc		149,594
1,640	e	Total System Services, Inc		48,396
13,433	*	Unisys Corp		122,778
2,878	*	United Rentals, Inc		93,650
9,319	*	VeriSign, Inc		295,692
298	*	WebMD Health Corp (Class A)		14,027
		TOTAL BUSINESS SERVICES		13,226,960
CHEMICALS AND ALLIED PRODUCTS - 5.09%
1,097	e*	Abraxis BioScience, Inc		24,386
8,313		Air Products & Chemicals, Inc		668,116
3,065		Albemarle Corp		118,094
3,024		Alberto-Culver Co		71,729
3,848		Avery Dennison Corp		255,815
16,942		Avon Products, Inc		622,619
4,336	*	Barr Pharmaceuticals, Inc		217,797
2,590		Cabot Corp		123,491
5,013		Celanese Corp (Series A)		194,404
2,540	e*	Cephalon, Inc		204,191
2,584	e*	Charles River Laboratories International, Inc		133,386
9,378		Chemtura Corp		104,190
2,526		Church & Dwight Co, Inc		122,410
5,855		Clorox Co		363,596
1,684		Cytec Industries, Inc		107,389
3,153		Dade Behring Holdings, Inc		167,487
3,340		Eastman Chemical Co		214,862
6,707		Ecolab, Inc		286,389
4,193		Estee Lauder Cos (Class A)		190,823
1,469		FMC Corp		131,314
12,279	*	Forest Laboratories, Inc		560,536
6,009	*	Hospira, Inc		234,591
3,764		Huntsman Corp		91,503
1,189	*	Idexx Laboratories, Inc		112,515
2,297	*	ImClone Systems, Inc		81,222
3,424		International Flavors & Fragrances, Inc		178,527
1,882	*	Invitrogen Corp		138,798
9,480	*	King Pharmaceuticals, Inc		193,961
2,710		Lubrizol Corp		174,931
8,878	e	Lyondell Chemical Co		329,551
12,326	*	Millennium Pharmaceuticals, Inc		130,286
6,120	*	Mosaic Co		238,802
9,543	e*	Mylan Laboratories, Inc		173,587
5,041		Nalco Holding Co		138,375
1,963	*	NBTY, Inc		84,802
4,472	e*	PDL BioPharma, Inc		104,198
6,299		PPG Industries, Inc		479,417
5,848		Rohm & Haas Co		319,769
4,640	e	RPM International, Inc		107,230

188

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,671	e	Scotts Miracle-Gro Co (Class A)	$	71,753
4,082	*	Sepracor, Inc		167,444
4,263		Sherwin-Williams Co		283,362
5,037		Sigma-Aldrich Corp		214,929
3,933		Valspar Corp		111,737
3,394	*	VCA Antech, Inc		127,920
5,222	*	Vertex Pharmaceuticals, Inc		149,140
3,293	*	Warner Chilcott Ltd (Class A)		59,570
4,170	e*	Watson Pharmaceuticals, Inc		135,650
782	e	Westlake Chemical Corp		21,990
		TOTAL CHEMICALS AND ALLIED PRODUCTS		9,538,584
COAL MINING - 0.58%
5,475	e	Arch Coal, Inc		190,530
6,988		Consol Energy, Inc		322,217
3,319		Massey Energy Co		88,451
9,998		Peabody Energy Corp		483,703
		TOTAL COAL MINING		1,084,901
COMMUNICATIONS - 4.07%
16,160	*	American Tower Corp (Class A)		678,720
17,295	*	Avaya, Inc		291,248
8,659	*	Cablevision Systems Corp (Class A)		313,369
1,311	*	Central European Media Enterprises Ltd (Class A)		127,927
4,203		CenturyTel, Inc		206,157
13,144		Citizens Communications Co		200,709
719	*	Clearwire Corp (Class A)		17,565
8,564	*	Crown Castle International Corp		310,616
1,521	e*	CTC Media, Inc		41,280
8,020	*	EchoStar Communications Corp (Class A)		347,827
5,907		Embarq Corp		374,327
2,756		Global Payments, Inc		109,275
1,041		Hearst-Argyle Television, Inc		25,088
6,704	*	IAC/InterActiveCorp		232,025
1,975	*	Leap Wireless International, Inc		166,888
58,870	e*	Level 3 Communications, Inc		344,390
14,898	e*	Liberty Global, Inc (Class A)		611,414
4,951	*	Liberty Media Corp - Capital (Series A)		582,634
25,008	*	Liberty Media Holding Corp (Interactive A)		558,429
2,163	*	MetroPCS Communications, Inc		71,466
2,644	e*	NeuStar, Inc (Class A)		76,597
6,252	*	NII Holdings, Inc		504,786
61,993	e*	Qwest Communications International, Inc		601,332
3,998	e*	SBA Communications Corp (Class A)		134,293
3,982		Telephone & Data Systems, Inc		249,154
721	*	US Cellular Corp		65,323
17,486		Windstream Corp		258,093
10,958	e*	XM Satellite Radio Holdings, Inc (Class A)		128,976
		TOTAL COMMUNICATIONS		7,629,908
DEPOSITORY INSTITUTIONS - 3.91%
4,894		Associated Banc-Corp		160,034
3,349		Astoria Financial Corp		83,859
3,245		Bancorpsouth, Inc		79,373

189

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,902		Bank of Hawaii Corp	$	98,219
914		BOK Financial Corp		48,826
920	e	Capitol Federal Financial		33,966
1,571		City National Corp		119,537
6,050		Colonial Bancgroup, Inc		151,069
5,984		Comerica, Inc		355,868
7,522		Commerce Bancorp, Inc		278,239
2,672		Commerce Bancshares, Inc		121,042
5,055		Compass Bancshares, Inc		348,694
2,410	e	Cullen/Frost Bankers, Inc		128,863
2,457	e	East West Bancorp, Inc		95,528
260		First Citizens Bancshares, Inc (Class A)		50,544
4,824	e	First Horizon National Corp		188,136
7,021	e	Fulton Financial Corp		101,243
20,892		Hudson City Bancorp, Inc		255,300
9,052	e	Huntington Bancshares, Inc		205,842
2,891	e	IndyMac Bancorp, Inc		84,330
2,680		Investors Financial Services Corp		165,276
15,055		Keycorp		516,838
2,634		M&T Bank Corp		281,575
9,943		Marshall & Ilsley Corp		473,585
11,843	e	New York Community Bancorp, Inc		201,568
8,418		Northern Trust Corp		540,772
7,506		People's United Financial, Inc		133,081
10,900		Popular, Inc		175,163
4,380		Sky Financial Group, Inc		122,027
16,032		Sovereign Bancorp, Inc		338,916
10,642		Synovus Financial Corp		326,709
5,160		TCF Financial Corp		143,448
1,836		UnionBanCal Corp		109,609
5,250	e	Valley National Bancorp		118,073
3,500		Washington Federal, Inc		85,085
2,205		Webster Financial Corp		94,087
2,821		Whitney Holding Corp		84,912
2,700		Wilmington Trust Corp		112,077
4,148		Zions Bancorporation		319,023
		TOTAL DEPOSITORY INSTITUTIONS		7,330,336
EATING AND DRINKING PLACES - 0.80%
4,354		Brinker International, Inc		127,442
1,979		Burger King Holdings, Inc		52,127
2,758	e*	Cheesecake Factory		67,626
5,429		Darden Restaurants, Inc		238,822
7,266		Tim Hortons, Inc		223,430
3,388	e	Wendy's International, Inc		124,509
20,282		Yum! Brands, Inc		663,627
		TOTAL EATING AND DRINKING PLACES		1,497,583
EDUCATIONAL SERVICES - 0.40%
5,698	*	Apollo Group, Inc (Class A)		332,934
3,648	e*	Career Education Corp		123,193
1,562	*	ITT Educational Services, Inc		183,348
1,812	*	Laureate Education, Inc		111,728
		TOTAL EDUCATIONAL SERVICES		751,203

190

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 7.88%
25,619	*	AES Corp	$	560,544
3,170		AGL Resources, Inc		128,322
6,359	*	Allegheny Energy, Inc		329,015
4,365		Alliant Energy Corp		169,580
10,203	*	Allied Waste Industries, Inc		137,332
7,945		Ameren Corp		389,384
15,301		American Electric Power Co, Inc		689,157
5,430		Aqua America, Inc		122,121
3,412		Atmos Energy Corp		102,565
12,725		Centerpoint Energy, Inc		221,415
8,617		CMS Energy Corp		148,212
10,381		Consolidated Edison, Inc		468,391
6,919		Constellation Energy Group, Inc		603,129
4,464	*	Covanta Holding Corp		110,038
4,352	e	DPL, Inc		123,336
6,756		DTE Energy Co		325,774
12,961	*	Dynegy, Inc (Class A)		122,352
12,503		Edison International		701,668
26,866		El Paso Corp		462,901
2,752		Energen Corp		151,195
6,031		Energy East Corp		157,349
3,299		Great Plains Energy, Inc		96,067
3,143	e	Hawaiian Electric Industries, Inc		74,458
2,906		Integrys Energy Group, Inc		147,421
6,746		KeySpan Corp		283,197
6,975		MDU Resources Group, Inc		195,579
9,819	*	Mirant Corp		418,780
3,202	e	National Fuel Gas Co		138,679
10,516		NiSource, Inc		217,786
5,930		Northeast Utilities		168,175
9,300	*	NRG Energy, Inc		386,601
4,099		NSTAR		133,013
3,550		OGE Energy Corp		130,108
4,259		Oneok, Inc		214,696
7,410	e	Pepco Holdings, Inc		208,962
13,489		PG&E Corp		611,052
3,848		Pinnacle West Capital Corp		153,343
14,812		PPL Corp		693,053
9,894		Progress Energy, Inc		451,067
4,800		Puget Energy, Inc		116,064
6,617		Questar Corp		349,708
13,108	*	Reliant Energy, Inc		353,261
6,489		Republic Services, Inc		198,823
4,478		SCANA Corp		171,463
10,123		Sempra Energy		599,585
8,494	*	Sierra Pacific Resources		149,155
4,355		Southern Union Co		141,929
3,473	*	Stericycle, Inc		154,410
8,171		TECO Energy, Inc		140,378
4,079		UGI Corp		111,275
2,980	e	Vectren Corp		80,251
23,096		Williams Cos, Inc		730,296

191

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,486		Wisconsin Energy Corp	$	198,416
15,689		Xcel Energy, Inc		321,154
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		14,761,985
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.63%
4,459	*	ADC Telecommunications, Inc		81,733
20,920	e*	Advanced Micro Devices, Inc		299,156
13,621		Altera Corp		301,433
4,096		Ametek, Inc		162,529
6,867	e	Amphenol Corp (Class A)		244,809
12,572		Analog Devices, Inc		473,210
17,487	*	Atmel Corp		97,228
5,659	*	Avnet, Inc		224,323
1,931		AVX Corp		32,325
17,698	*	Broadcom Corp (Class A)		517,667
3,377	e*	Ciena Corp		122,011
6,523		Cooper Industries Ltd (Class A)		372,398
3,540	e*	Cree, Inc		91,509
5,880	e*	Cypress Semiconductor Corp		136,945
1,536	*	Dolby Laboratories, Inc (Class A)		54,390
5,622		Eaton Corp		522,846
2,176	e*	Energizer Holdings, Inc		216,730
4,536	*	Fairchild Semiconductor International, Inc		87,636
1,285	e*	First Solar, Inc		114,738
4,432	e	Garmin Ltd		327,835
2,500		Harman International Industries, Inc		292,000
5,152		Harris Corp		281,042
7,594	*	Integrated Device Technology, Inc		115,960
2,781	*	International Rectifier Corp		103,620
5,184		Intersil Corp (Class A)		163,089
2,154	*	Jarden Corp		92,644
7,906	e*	JDS Uniphase Corp		106,178
4,802		L-3 Communications Holdings, Inc		467,667
1,646		Lincoln Electric Holdings, Inc		122,199
9,739	e	Linear Technology Corp		352,357
29,517	*	LSI Logic Corp		221,673
18,123	*	Marvell Technology Group Ltd		330,020
12,306		Maxim Integrated Products, Inc		411,143
8,611	*	MEMC Electronic Materials, Inc		526,304
8,380		Microchip Technology, Inc		310,395
29,630	*	Micron Technology, Inc		371,264
5,280		Molex, Inc		158,453
12,058	e	National Semiconductor Corp		340,880
14,255	*	Network Appliance, Inc		416,246
4,847	*	Novellus Systems, Inc		137,509
14,028	*	Nvidia Corp		579,497
5,892	*	QLogic Corp		98,102
5,214	e	RadioShack Corp		172,792
3,677	e*	Rambus, Inc		66,112
20,357	*	Sanmina-SCI Corp		63,717
2,145	*	Silicon Laboratories, Inc		74,238
58,080	e*	Sirius Satellite Radio, Inc		175,402
818	*	Sunpower Corp (Class A)		51,575
1,503		Teleflex, Inc		122,915

192

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
17,545	*	Tellabs, Inc	$	188,784
2,266	*	Thomas & Betts Corp		131,428
3,391	*	Varian Semiconductor Equipment Associates, Inc		135,843
6,883	*	Vishay Intertechnology, Inc		108,889
2,976	e	Whirlpool Corp		330,931
11,430		Xilinx, Inc		305,981
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		12,408,300
ENGINEERING AND MANAGEMENT SERVICES - 1.47%
4,706	e*	Amylin Pharmaceuticals, Inc		193,699
1,434	e	Corporate Executive Board Co		93,081
3,383		Fluor Corp		376,765
2,097	*	Gen-Probe, Inc		126,701
3,647	e*	Hewitt Associates, Inc (Class A)		116,704
4,576	*	Jacobs Engineering Group, Inc		263,166
6,680	*	KBR, Inc		175,216
4,270	*	McDermott International, Inc		354,922
13,014		Paychex, Inc		509,108
5,998	e	Quest Diagnostics, Inc		309,797
3,143	e*	Shaw Group, Inc		145,489
1,967	*	URS Corp		95,498
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		2,760,146
FABRICATED METAL PRODUCTS - 0.87%
1,271	e*	Alliant Techsystems, Inc		126,020
3,918		Ball Corp		208,320
4,575		Commercial Metals Co		154,498
2,076		Crane Co		94,354
6,274	*	Crown Holdings, Inc		156,662
4,446		Parker Hannifin Corp		435,308
3,829		Pentair, Inc		147,685
2,226		Snap-On, Inc		112,435
3,314		Stanley Works		201,160
		TOTAL FABRICATED METAL PRODUCTS		1,636,442
FOOD AND KINDRED PRODUCTS - 2.79%
4,634		Bunge Ltd		391,573
8,874		Campbell Soup Co		344,400
11,957		Coca-Cola Enterprises, Inc		286,968
19,111		ConAgra Foods, Inc		513,321
7,567	e*	Constellation Brands, Inc (Class A)		183,727
2,903		Corn Products International, Inc		131,941
8,173		Del Monte Foods Co		99,384
12,465		H.J. Heinz Co		591,714
2,604	e*	Hansen Natural Corp		111,920
6,466		Hershey Co		327,309
2,834		Hormel Foods Corp		105,850
2,172		J.M. Smucker Co		138,270
5,013		McCormick & Co, Inc		191,396
2,158		Molson Coors Brewing Co (Class B)		199,529
5,623		Pepsi Bottling Group, Inc		189,383
2,265		PepsiAmericas, Inc		55,628
28,191		Sara Lee Corp		490,523
4,418	*	Smithfield Foods, Inc		136,030

193

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,356		Tyson Foods, Inc (Class A)	$	215,562
9,196		Wrigley (Wm.) Jr Co		508,631
		TOTAL FOOD AND KINDRED PRODUCTS		5,213,059
FOOD STORES - 0.65%
1,240	e*	Panera Bread Co (Class A)		57,114
16,943		Safeway, Inc		576,570
8,073		Supervalu, Inc		373,941
5,425	e	Whole Foods Market, Inc		207,778
		TOTAL FOOD STORES		1,215,403
FORESTRY - 0.07%
2,969		Rayonier, Inc		134,021
		TOTAL FORESTRY		134,021
FURNITURE AND FIXTURES - 0.43%
2,367		Hillenbrand Industries, Inc		153,855
1,838		HNI Corp		75,358
7,093		Leggett & Platt, Inc		156,401
14,494		Masco Corp		412,644
		TOTAL FURNITURE AND FIXTURES		798,258
FURNITURE AND HOMEFURNISHINGS STORES - 0.59%
10,635	*	Bed Bath & Beyond, Inc		382,754
6,552	e	Circuit City Stores, Inc		98,804
5,933	*	GameStop Corp (Class A)		231,980
2,170	e*	Mohawk Industries, Inc		218,714
3,062		Steelcase, Inc (Class A)		56,647
3,491	e	Williams-Sonoma, Inc		110,246
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		1,099,145
GENERAL BUILDING CONTRACTORS - 0.69%
4,611		Centex Corp		184,901
12,134		DR Horton, Inc		241,831
2,967	e	KB Home		116,811
5,209		Lennar Corp (Class A)		190,441
1,403		MDC Holdings, Inc		67,849
174	e*	NVR, Inc		118,277
8,121		Pulte Homes, Inc		182,316
1,612	e	Ryland Group, Inc		60,240
4,835	e*	Toll Brothers, Inc		120,778
		TOTAL GENERAL BUILDING CONTRACTORS		1,283,444
GENERAL MERCHANDISE STORES - 1.06%
4,077	*	Big Lots, Inc		119,945
2,504	*	BJ's Wholesale Club, Inc		90,219
2,449	e	Dillard's, Inc (Class A)		87,993
12,047		Dollar General Corp		264,070
5,796		Family Dollar Stores, Inc		198,919
8,664		JC Penney Co, Inc		627,100
5,710	e	Saks, Inc		121,909
17,483		TJX Cos, Inc		480,783
		TOTAL GENERAL MERCHANDISE STORES		1,990,938

194

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
HEALTH SERVICES - 2.25%
7,331		AmerisourceBergen Corp	$	362,665
873	e	Brookdale Senior Living, Inc		39,783
11,135		Cigna Corp		581,470
3,675	*	Community Health Systems, Inc		148,654
2,008	*	Covance, Inc		137,668
5,998	e*	Coventry Health Care, Inc		345,785
4,192	*	DaVita, Inc		225,865
2,212	*	Edwards Lifesciences Corp		109,140
8,922	*	Express Scripts, Inc		446,189
9,293		Health Management Associates, Inc (Class A)		105,568
4,512	*	Laboratory Corp of America Holdings		353,109
2,348	*	LifePoint Hospitals, Inc		90,821
3,219	*	Lincare Holdings, Inc		128,277
2,807		Manor Care, Inc		183,269
4,665	e	Omnicare, Inc		168,220
1,978	*	Pediatrix Medical Group, Inc		109,087
3,948		Pharmaceutical Product Development, Inc		151,090
2,288	*	Sierra Health Services, Inc		95,135
19,221	e*	Tenet Healthcare Corp		125,129
3,569	*	Triad Hospitals, Inc		191,869
1,860		Universal Health Services, Inc (Class B)		114,390
		TOTAL HEALTH SERVICES		4,213,183
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.16%
2,703	*	Foster Wheeler Ltd		289,194
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		289,194
HOLDING AND OTHER INVESTMENT OFFICES - 8.67%
1,170	e*	Affiliated Managers Group, Inc		150,649
6,080	e	Allied Capital Corp		188,237
3,823		AMB Property Corp		203,460
9,990		Annaly Mortgage Management, Inc		144,056
3,729		Apartment Investment & Management Co (Class A)		188,016
8,556		Archstone-Smith Trust		505,745
3,056		AvalonBay Communities, Inc		363,297
3,933		Boston Properties, Inc		401,677
3,338		Brandywine Realty Trust		95,400
1,945	e	BRE Properties, Inc (Class A)		115,319
2,179		Camden Property Trust		145,928
2,625		CBL & Associates Properties, Inc		94,631
1,984		Colonial Properties Trust		72,317
4,929		Developers Diversified Realty Corp		259,808
2,870		Douglas Emmett, Inc		71,004
5,253		Duke Realty Corp		187,375
11,157		Equity Residential		509,094
937	e	Essex Property Trust, Inc		108,973
2,162		Federal Realty Investment Trust		167,036
8,116		General Growth Properties, Inc		429,742
8,100		Health Care Property Investors, Inc		234,333
3,250		Health Care REIT, Inc		131,170
3,651		Hospitality Properties Trust		151,480
20,207		Host Marriott Corp		467,186
8,440		HRPT Properties Trust		87,776

195

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
58,950		iShares Russell Midcap Index Fund	$	6,419,655
4,969		iStar Financial, Inc		220,276
1,253		Kilroy Realty Corp		88,763
8,240		Kimco Realty Corp		313,697
3,679	e	Liberty Property Trust		161,618
2,751		Macerich Co		226,737
2,689		Mack-Cali Realty Corp		116,945
6,783		Plum Creek Timber Co, Inc		282,580
9,915		Prologis		564,164
4,788		Public Storage, Inc		367,814
2,667		Regency Centers Corp		188,024
2,280		SL Green Realty Corp		282,469
2,057		Taubman Centers, Inc		102,048
2,368	*	TFS Financial Corp		27,327
4,625		Thornburg Mortgage, Inc		121,083
5,217	e	UDR, Inc		137,207
4,759		Ventas, Inc		172,514
11,389		Virgin Media, Inc		277,550
5,143		Vornado Realty Trust		564,907
2,951	e	Weingarten Realty Investors		121,286
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		16,230,373
HOTELS AND OTHER LODGING PLACES - 0.96%
1,881		Boyd Gaming Corp		92,526
1,534		Choice Hotels International, Inc		60,624
15,109		Hilton Hotels Corp		505,698
1,625	e	Orient-Express Hotels Ltd (Class A)		86,775
8,291		Starwood Hotels & Resorts Worldwide, Inc		556,077
1,762	e	Station Casinos, Inc		152,942
6,625	*	Wyndham Worldwide Corp		240,223
1,889	e	Wynn Resorts Ltd		169,424
		TOTAL HOTELS AND OTHER LODGING PLACES		1,864,289
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.66%
3,563	*	AGCO Corp		154,670
6,925		American Standard Cos, Inc		408,437
2,531		Black & Decker Corp		223,513
15,066	*	Brocade Communications Systems, Inc		117,816
2,516		Carlisle Cos, Inc		117,019
2,242		CDW Corp		190,503
4,011		Cummins, Inc		405,953
2,526		Diebold, Inc		131,857
2,990		Donaldson Co, Inc		106,295
7,844		Dover Corp		401,221
2,893	*	Dresser-Rand Group, Inc		114,274
2,190		Flowserve Corp		156,804
2,491	e*	FMC Technologies, Inc		197,337
2,029	*	Gardner Denver, Inc		86,334
2,551		Graco, Inc		102,754
4,952	*	Grant Prideco, Inc		266,566
3,327		IDEX Corp		128,223
11,142		Ingersoll-Rand Co Ltd (Class A)		610,804
12,755		International Game Technology		506,374
7,177	e	Jabil Circuit, Inc		158,396

196

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,190		Joy Global, Inc	$	244,403
1,492		Kennametal, Inc		122,389
5,225	*	Lam Research Corp		268,565
2,452		Lennox International, Inc		83,932
3,629	*	Lexmark International, Inc (Class A)		178,946
2,417		Manitowoc Co, Inc		194,278
4,718		Pall Corp		216,981
580	*	Riverbed Technology, Inc		25,416
6,077	e	Rockwell Automation, Inc		421,987
8,809	*	SanDisk Corp		431,112
2,589	*	Scientific Games Corp (Class A)		90,486
20,859		Seagate Technology, Inc		454,100
34,210	*	Solectron Corp		125,893
2,185		SPX Corp		191,865
4,011	*	Terex Corp		326,094
3,311		Timken Co		119,560
1,547		Toro Co		91,103
4,890	*	Varian Medical Systems, Inc		207,874
2,227	e*	VeriFone Holdings, Inc		78,502
8,558	*	Western Digital Corp		165,597
2,773	*	Zebra Technologies Corp (Class A)		107,426
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		8,731,659
INSTRUMENTS AND RELATED PRODUCTS - 4.13%
2,466	*	Advanced Medical Optics, Inc		86,014
15,089	*	Agilent Technologies, Inc		580,021
11,706		Allergan, Inc		674,734
7,097		Applera Corp (Applied Biosystems Group)		216,742
1,247	e*	Armor Holdings, Inc		108,327
3,971		Bard (C.R.), Inc		328,124
2,086	e	Bausch & Lomb, Inc		144,852
2,377		Beckman Coulter, Inc		153,744
9,424		Biomet, Inc		430,865
1,848	e	Cooper Cos, Inc		98,535
5,829		Dentsply International, Inc		223,018
1,564		DRS Technologies, Inc		89,570
11,042	e	Eastman Kodak Co		307,299
1,427	*	Intuitive Surgical, Inc		198,025
7,415		Kla-Tencor Corp		407,454
1,449	*	Mettler-Toledo International, Inc		138,394
2,071	e*	Millipore Corp		155,511
2,400		National Instruments Corp		78,168
4,596		PerkinElmer, Inc		119,772
8,430		Pitney Bowes, Inc		394,693
2,950	*	Resmed, Inc		121,717
2,970	*	Respironics, Inc		126,492
6,423		Rockwell Collins, Inc		453,721
3,394		Roper Industries, Inc		193,797
12,981	*	St. Jude Medical, Inc		538,582
1,513	*	Techne Corp		86,559
3,270		Tektronix, Inc		110,330
7,276	*	Teradyne, Inc		127,912
4,686	*	Trimble Navigation Ltd		150,889
3,872	*	Waters Corp		229,842

197

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
36,124	*	Xerox Corp	$	667,572
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		7,741,275
INSURANCE AGENTS, BROKERS AND SERVICE - 0.49%
11,267		AON Corp		480,087
4,394		Brown & Brown, Inc		110,465
3,990	e	Gallagher (Arthur J.) & Co		111,241
350		White Mountains Insurance Group Ltd		212,107
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		913,900
INSURANCE CARRIERS - 4.83%
202	*	Alleghany Corp		82,113
2,318		Allied World Assurance Holdings Ltd		118,798
3,911		Ambac Financial Group, Inc		341,000
3,157	e	American Financial Group, Inc		107,812
615		American National Insurance Co		93,849
1,952	*	Arch Capital Group Ltd		141,598
4,723		Assurant, Inc		278,279
5,899		Axis Capital Holdings Ltd		239,794
6,359		Cincinnati Financial Corp		275,981
1,150	e	CNA Financial Corp		54,844
6,913	*	Conseco, Inc		144,413
2,250		Endurance Specialty Holdings Ltd		90,090
1,858		Erie Indemnity Co (Class A)		100,406
2,424		Everest Re Group Ltd		263,343
8,758		Fidelity National Title Group, Inc (Class A)		207,565
3,520		First American Corp		174,240
16,145		Genworth Financial, Inc (Class A)		555,388
1,974		Hanover Insurance Group, Inc		96,311
4,300		HCC Insurance Holdings, Inc		143,663
4,307	*	Health Net, Inc		227,410
6,449	*	Humana, Inc		392,809
6,291	e	Leucadia National Corp		221,758
395	*	Markel Corp		191,401
5,074		MBIA, Inc		315,704
1,100		Mercury General Corp		60,621
3,188	e	MGIC Investment Corp		181,270
1,893	e	Nationwide Financial Services, Inc (Class A)		119,675
8,877		Old Republic International Corp		188,725
870		OneBeacon Insurance Group Ltd		22,037
2,180		PartnerRe Ltd		168,950
2,228	*	Philadelphia Consolidated Holding Co		93,130
3,334		PMI Group, Inc		148,930
9,743		Principal Financial Group		567,919
2,850		Protective Life Corp		136,259
3,081		Radian Group, Inc		166,374
1,240		Reinsurance Group Of America, Inc		74,698
2,771		RenaissanceRe Holdings Ltd		171,774
4,074		Safeco Corp		253,647
2,140		Stancorp Financial Group, Inc		112,307
3,665		Torchmark Corp		245,555
1,029	e	Transatlantic Holdings, Inc		73,193
1,770		Unitrin, Inc		87,049
13,608		UnumProvident Corp		355,305

198

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,561		W.R. Berkley Corp	$	213,495
1,536	*	WellCare Health Plans, Inc		139,023
59		Wesco Financial Corp		22,715
6,901		XL Capital Ltd (Class A)		581,685
		TOTAL INSURANCE CARRIERS		9,042,905
JUSTICE, PUBLIC ORDER AND SAFETY - 0.08%
2,356	*	Corrections Corp of America		148,687
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		148,687
LEATHER AND LEATHER PRODUCTS - 0.44%
14,419	*	Coach, Inc		683,316
3,068	e*	CROCS, Inc		132,016
		TOTAL LEATHER AND LEATHER PRODUCTS		815,332
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.06%
3,045		Laidlaw International, Inc		105,205
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		105,205
LUMBER AND WOOD PRODUCTS - 0.04%
4,350		Louisiana-Pacific Corp		82,302
		TOTAL LUMBER AND WOOD PRODUCTS		82,302
METAL MINING - 0.10%
1,543	e	Cleveland-Cliffs, Inc		119,845
1,735		Foundation Coal Holdings, Inc		70,510
		TOTAL METAL MINING		190,355
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.58%
547	*	Armstrong World Industries, Inc		27,432
5,984		Fortune Brands, Inc		492,902
6,113		Hasbro, Inc		192,009
15,093		Mattel, Inc		381,702
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,094,045
MISCELLANEOUS RETAIL - 0.84%
1,974		Barnes & Noble, Inc		75,940
2,417	e*	Coldwater Creek, Inc		56,147
1,633	e*	Dick's Sporting Goods, Inc		94,992
3,741	*	Dollar Tree Stores, Inc		162,921
1,574		MSC Industrial Direct Co (Class A)		86,570
1,354	e*	Nutri/System, Inc		94,563
10,544	*	Office Depot, Inc		319,483
2,955		OfficeMax, Inc		116,132
5,218		Petsmart, Inc		169,324
17,855	e*	Rite Aid Corp		113,915
5,229		Tiffany & Co		277,451
		TOTAL MISCELLANEOUS RETAIL		1,567,438
MOTION PICTURES - 0.20%
10,888	*	Discovery Holding Co (Class A)		250,315
2,141	*	DreamWorks Animation SKG, Inc (Class A)		61,746
2,900	e	Regal Entertainment Group (Class A)		63,597
		TOTAL MOTION PICTURES		375,658

199

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
NONDEPOSITORY INSTITUTIONS - 0.87%
6,236		American Capital Strategies Ltd	$	265,155
4,522	*	AmeriCredit Corp		120,059
4,535		Broadridge Financial Solutions, Inc		86,709
4,359	e	CapitalSource, Inc		107,188
7,431		CIT Group, Inc		407,442
2,263	e	First Marblehead Corp		87,442
151		Student Loan Corp		30,789
4,780		Textron, Inc		526,326
		TOTAL NONDEPOSITORY INSTITUTIONS		1,631,110
NONMETALLIC MINERALS, EXCEPT FUELS - 0.29%
1,836		Florida Rock Industries, Inc		123,930
3,657	e	Vulcan Materials Co		418,873
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		542,803
OIL AND GAS EXTRACTION - 4.75%
11,286		BJ Services Co		320,974
4,307	*	Cameron International Corp		307,821
1,993	e*	Cheniere Energy, Inc		77,308
17,385	e	Chesapeake Energy Corp		601,521
3,197	e	Cimarex Energy Co		125,994
1,134	e*	CNX Gas Corp		34,700
4,647	*	Denbury Resources, Inc		174,263
2,580		Diamond Offshore Drilling, Inc		262,025
5,853		ENSCO International, Inc		357,092
4,667		Equitable Resources, Inc		231,297
3,026	e*	Forest Oil Corp		127,879
3,781	*	Global Industries Ltd		101,406
8,747		GlobalSantaFe Corp		631,971
3,595	*	Helix Energy Solutions Group, Inc		143,476
3,973	e	Helmerich & Payne, Inc		140,724
10,326	*	Nabors Industries Ltd		344,682
6,940	*	National Oilwell Varco, Inc		723,426
4,982		Noble Corp		485,845
2,200	*	Oceaneering International, Inc		115,808
6,013		Patterson-UTI Energy, Inc		157,601
4,735		Pioneer Natural Resources Co		230,642
2,829	*	Plains Exploration & Production Co		135,254
2,321	e	Pogo Producing Co		117,884
6,434	*	Pride International, Inc		241,018
1,923	e*	Quicksilver Resources, Inc		85,727
5,633	e	Range Resources Corp		210,731
4,286		Rowan Cos, Inc		175,640
932	*	SEACOR Holdings, Inc		87,012
7,829	e	Smith International, Inc		459,093
6,518	*	Southwestern Energy Co		290,051
2,556		St. Mary Land & Exploration Co		93,601
3,128	*	Superior Energy Services		124,870
2,669	e*	Tetra Technologies, Inc		75,266
2,203	e	Tidewater, Inc		156,149
2,359	*	Todco		111,368
1,894	*	Unit Corp		119,152

200

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
820	e	W&T Offshore, Inc	$	22,952
12,703	*	Weatherford International Ltd		701,714
		TOTAL OIL AND GAS EXTRACTION		8,903,937
PAPER AND ALLIED PRODUCTS - 0.64%
4,016		Bemis Co		133,251
16,880	*	Domtar Corporation		188,381
7,080		MeadWestvaco Corp		250,066
3,291		Packaging Corp of America		83,295
9,960	*	Smurfit-Stone Container Corp		132,568
3,836		Sonoco Products Co		164,219
4,066		Temple-Inland, Inc		250,181
		TOTAL PAPER AND ALLIED PRODUCTS		1,201,961
PERSONAL SERVICES - 0.39%
5,396		Cintas Corp		212,764
12,394	e	H&R Block, Inc		289,648
11,282		Service Corp International		144,184
1,492	e	Weight Watchers International, Inc		75,853
		TOTAL PERSONAL SERVICES		722,449
PETROLEUM AND COAL PRODUCTS - 1.62%
2,154		Ashland, Inc		137,748
3,718		Cabot Oil & Gas Corp		137,120
4,292		Frontier Oil Corp		187,861
10,656		Hess Corp		628,278
1,765		Holly Corp		130,945
7,219		Murphy Oil Corp		429,097
4,989	*	Newfield Exploration Co		227,249
6,603		Noble Energy, Inc		411,961
4,685		Sunoco, Inc		373,301
5,315		Tesoro Corp		303,752
1,018	e	Western Refining, Inc		58,840
		TOTAL PETROLEUM AND COAL PRODUCTS		3,026,152
PIPELINES, EXCEPT NATURAL GAS - 0.33%
23,646		Spectra Energy Corp		613,850
		TOTAL PIPELINES, EXCEPT NATURAL GAS		613,850
PRIMARY METAL INDUSTRIES - 1.40%
4,241	*	AK Steel Holding Corp		158,486
3,957		Allegheny Technologies, Inc		415,010
1,051		Carpenter Technology Corp		136,956
1,747		Chaparral Steel Co		125,557
2,245	*	CommScope, Inc		130,996
2,004	*	General Cable Corp		151,803
2,290	e	Hubbell, Inc (Class B)		124,164
5,325		Precision Castparts Corp		646,242
3,645	e	Steel Dynamics, Inc		152,762
2,651	e*	Titanium Metals Corp		84,567
4,569		United States Steel Corp		496,879
		TOTAL PRIMARY METAL INDUSTRIES		2,623,422

201

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
PRINTING AND PUBLISHING - 1.22%
2,317		Dow Jones & Co, Inc	$	133,112
2,280		Dun & Bradstreet Corp		234,794
3,459	e	EW Scripps Co (Class A)		158,042
9,098		Gannett Co, Inc		499,935
1,918		Harte-Hanks, Inc		49,254
1,833		John Wiley & Sons, Inc (Class A)		88,516
1,736	e	McClatchy Co (Class A)		43,938
1,280		Meredith Corp		78,848
5,404	e	New York Times Co (Class A)		137,262
2,646	*	R.H. Donnelley Corp		200,514
8,789		R.R. Donnelley & Sons Co		382,409
3,198		Tribune Co		94,021
225		Washington Post Co (Class B)		174,620
		TOTAL PRINTING AND PUBLISHING		2,275,265
RAILROAD TRANSPORTATION - 0.47%
16,777		CSX Corp		756,307
3,140	e*	Kansas City Southern Industries, Inc		117,876
		TOTAL RAILROAD TRANSPORTATION		874,183
REAL ESTATE - 0.40%
7,510	*	CB Richard Ellis Group, Inc (Class A)		274,115
2,872	e	Forest City Enterprises, Inc (Class A)		176,571
1,396		Jones Lang LaSalle, Inc		158,446
2,853	e	St. Joe Co		132,208
		TOTAL REAL ESTATE		741,340
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.42%
7,843	*	Goodyear Tire & Rubber Co		272,623
10,704		Newell Rubbermaid, Inc		315,019
6,200		Sealed Air Corp		192,324
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		779,966
SECURITY AND COMMODITY BROKERS - 2.90%
2,952		A.G. Edwards, Inc		249,592
8,778		Ameriprise Financial, Inc		558,017
2,364	e	BlackRock, Inc		370,179
2,061	e	Cbot Holdings, Inc (Class A)		425,803
16,377	*	E*Trade Financial Corp		361,768
4,268		Eaton Vance Corp		188,560
3,342		Federated Investors, Inc (Class B)		128,099
2,767	*	IntercontinentalExchange, Inc		409,101
1,828	e*	Investment Technology Group, Inc		79,207
7,155	e	Janus Capital Group, Inc		199,195
5,012		Jefferies Group, Inc		135,224
1,977		Lazard Ltd (Class A)		89,024
5,092		Legg Mason, Inc		500,951
4,140	e*	Nasdaq Stock Market, Inc		122,999
3,050		Nuveen Investments, Inc (Class A)		189,558
3,498		Nymex Holdings, Inc		439,454
3,705		Raymond James Financial, Inc		114,485
5,186		SEI Investments Co		150,601
10,235		T Rowe Price Group, Inc		531,094

202

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,722	e*	TD Ameritrade Holding Corp	$	194,440
		TOTAL SECURITY AND COMMODITY BROKERS		5,437,351
SPECIAL TRADE CONTRACTORS - 0.07%
4,455	e*	Quanta Services, Inc		136,635
		TOTAL SPECIAL TRADE CONTRACTORS		136,635
STONE, CLAY, AND GLASS PRODUCTS - 0.37%
1,839	e	Eagle Materials, Inc		90,203
5,652		Gentex Corp		111,288
4,070	e*	Owens Corning, Inc		136,874
5,984	*	Owens-Illinois, Inc		209,440
3,073	e*	USG Corp		150,700
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		698,505
TOBACCO PRODUCTS - 0.35%
4,057		Loews Corp (Carolina Group)		313,484
6,278	e	UST, Inc		337,191
		TOTAL TOBACCO PRODUCTS		650,675
TRANSPORTATION BY AIR - 0.82%
9,332	e*	AMR Corp		245,898
3,858	e*	Continental Airlines, Inc (Class B)		130,670
667		Copa Holdings S.A. (Class A)		44,849
8,703	*	Delta Air Lines, Inc		171,449
10,099	*	Northwest Airlines Corp		224,198
29,959	e	Southwest Airlines Co		446,689
4,549	e*	UAL Corp		184,644
3,089	*	US Airways Group, Inc		93,504
		TOTAL TRANSPORTATION BY AIR		1,541,901
TRANSPORTATION EQUIPMENT - 1.93%
3,055		Autoliv, Inc		173,738
3,355	*	BE Aerospace, Inc		138,562
3,467		Brunswick Corp		113,128
69,487	e*	Ford Motor Co		654,568
6,538		Genuine Parts Co		324,285
4,803		Goodrich Corp		286,067
9,881		Harley-Davidson, Inc		589,006
3,278		Harsco Corp		170,456
6,974		ITT Industries, Inc		476,185
2,842		Oshkosh Truck Corp		178,819
5,003	*	Pactiv Corp		159,546
2,370	*	Spirit Aerosystems Holdings, Inc (Class A)		85,439
1,325	e	Thor Industries, Inc		59,811
3,228	e	Trinity Industries, Inc		140,547
1,794	*	TRW Automotive Holdings Corp		66,073
		TOTAL TRANSPORTATION EQUIPMENT		3,616,230
TRANSPORTATION SERVICES - 0.46%
6,494		CH Robinson Worldwide, Inc		341,065
8,179		Expeditors International Washington, Inc		337,793
1,795	e	GATX Corp		88,404
3,596		UTI Worldwide, Inc		96,337
		TOTAL TRANSPORTATION SERVICES		863,599

203

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
TRUCKING AND WAREHOUSING - 0.21%
1,751		Con-way, Inc	$	87,970
3,736		J.B. Hunt Transport Services, Inc		109,540
2,192		Landstar System, Inc		105,764
2,209	e*	YRC Worldwide, Inc		81,291
		TOTAL TRUCKING AND WAREHOUSING		384,565
WATER TRANSPORTATION - 0.36%
1,748		Alexander & Baldwin, Inc		92,836
1,860		Frontline Ltd		85,281
2,215	e*	Kirby Corp		85,034
1,208		Overseas Shipholding Group, Inc		98,331
5,114		Royal Caribbean Cruises Ltd		219,800
1,497		Teekay Corp		86,691
		TOTAL WATER TRANSPORTATION		667,973
WHOLESALE TRADE-DURABLE GOODS - 0.97%
4,767	*	Arrow Electronics, Inc		183,196
2,226		BorgWarner, Inc		191,525
4,420	*	Cytyc Corp		190,546
5,466	*	Ingram Micro, Inc (Class A)		118,667
1,643		Martin Marietta Materials, Inc		266,199
5,339	*	Patterson Cos, Inc		198,985
1,883	e	Pool Corp		73,493
2,540		Reliance Steel & Aluminum Co		142,900
2,112	*	Tech Data Corp		81,228
2,721		W.W. Grainger, Inc		253,189
1,790	e*	WESCO International, Inc		108,206
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,808,134
WHOLESALE TRADE-NONDURABLE GOODS - 0.65%
2,761		Airgas, Inc		132,252
1,192	e*	Bare Escentuals, Inc		40,707
2,661	e	Brown-Forman Corp (Class B)		194,466
5,035		Dean Foods Co		160,465
5,134	*	Endo Pharmaceuticals Holdings, Inc		175,737
3,410	*	Henry Schein, Inc		182,196
1,781		Herbalife Ltd		70,617
5,382		Idearc, Inc		190,146
1,324	e*	Tractor Supply Co		68,894
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,215,480
		TOTAL COMMON STOCKS
		(Cost $149,067,369)		185,043,633
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 13.80%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.27%
$      2,380,000	d	Federal Home Loan Bank , 07/02/07		2,380,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 12.53%
23,467,292		State Street Navigator Securities Lending Prime Portfolio		23,467,292

204

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
				VALUE
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $25,846,975)	$	25,847,292
		TOTAL PORTFOLIO - 112.61%
		(Cost $174,914,344)		210,890,925
		OTHER ASSETS & LIABILITIES, NET - (12.61)%		(23,617,024	)
		NET ASSETS - 100.00%	$	187,273,901
	*	Non-income producing.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other
		requirements on open futures contracts in the amount of $2,379,048.
	e	All or a portion of these securities are out on loan.

205

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.76%
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.01%
4		Seaboard Corp	$	9,380
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		9,380
AGRICULTURAL SERVICES - 0.03%
1,952	*e	Cadiz, Inc		43,861
		TOTAL AGRICULTURAL SERVICES		43,861
AMUSEMENT AND RECREATION SERVICES - 1.04%
8,888	*	Bally Technologies, Inc		234,821
2,339		Dover Downs Gaming & Entertainment, Inc		35,108
1,528	*	Lakes Entertainment, Inc		18,046
5,340	*e	Life Time Fitness, Inc		284,248
882	*e	Live Nation, Inc		19,739
6,148	*e	Marvel Entertainment, Inc		156,651
3,391	*e	MTR Gaming Group, Inc		52,221
5,438	*	Pinnacle Entertainment, Inc		153,080
2,493	*	Town Sports International Holdings, Inc		48,165
10,321	*	Westwood One, Inc		74,208
6,856	*e	WMS Industries, Inc		197,864
3,880		World Wrestling Entertainment, Inc		62,041
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,336,192
APPAREL AND ACCESSORY STORES - 2.45%
8,659	*	Aeropostale, Inc		360,907
4,146	e	Bebe Stores, Inc		66,377
3,395		Brown Shoe Co, Inc		82,579
2,439		Buckle, Inc		96,097
1,500	*e	Cache, Inc		19,905
9,692	*e	Carter's, Inc		251,410
5,579	*e	Casual Male Retail Group, Inc		56,348
1,303		Cato Corp (Class A)		28,588
4,165	*	Charlotte Russe Holding, Inc		111,914
3,769	*	Children's Place Retail Stores, Inc		194,631
6,063	e	Christopher & Banks Corp		103,980
2,288	*e	Citi Trends, Inc		86,852
914		DEB Shops, Inc		25,272
6,090	*e	Dress Barn, Inc		124,967
2,844	*e	DSW, Inc (Class A)		99,028
3,750	*	HOT Topic, Inc		40,763
6,491	*e	J Crew Group, Inc		351,098
385	*	Jo-Ann Stores, Inc		10,946
3,035	*e	JOS A Bank Clothiers, Inc		125,861
3,868	*	New York & Co, Inc		42,393
9,586	*	Pacific Sunwear Of California, Inc		210,892
4,820	*	Payless Shoesource, Inc		152,071

206

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
420	*	Shoe Carnival, Inc	$	11,546
5,137	*	Tween Brands, Inc		229,110
4,123	*e	Under Armour, Inc (Class A)		188,215
14,177	*	Wet Seal, Inc (Class A)		85,204
		TOTAL APPAREL AND ACCESSORY STORES		3,156,954
APPAREL AND OTHER TEXTILE PRODUCTS - 0.48%
490		Columbia Sportswear Co		33,653
2,031	*e	G-III Apparel Group Ltd		32,069
5,484	*	Gymboree Corp		216,124
2,273	*e	Maidenform Brands, Inc		45,142
6,322	*e	Quiksilver, Inc		89,330
2,582	*	True Religion Apparel, Inc		52,492
3,960	*	Warnaco Group, Inc		155,786
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		624,596
AUTO REPAIR, SERVICES AND PARKING - 0.28%
2,586	*	Midas, Inc		58,625
1,865		Monro Muffler, Inc		69,844
520	*	Standard Parking Corp		18,268
6,228	*	Wright Express Corp		213,434
		TOTAL AUTO REPAIR, SERVICES AND PARKING		360,171
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.01%
495	*	CSK Auto Corp		9,108
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		9,108
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.00%
243	*e	Builders FirstSource, Inc		3,903
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		3,903
BUSINESS SERVICES - 13.89%
8,188	*	24/7 Real Media, Inc		96,045
2,605	*e	3D Systems Corp		64,786
4,746		Aaron Rents, Inc		138,583
480		ABM Industries, Inc		12,389
4,823	*e	Acacia Research (Acacia Technologies)		77,940
10,052	*	Actuate Corp		68,253
3,932		Administaff, Inc		131,683
3,098	*e	Advent Software, Inc		100,840
612	*	Agile Software Corp		4,933
4,821	*e	American Reprographics Co		148,439
5,871	*	AMN Healthcare Services, Inc		129,162
2,860	*	Ansoft Corp		84,341
12,917	*	Ansys, Inc		342,301
4,943		Arbitron, Inc		254,713
22,257	*e	Art Technology Group, Inc		59,204
14,696	*	Aspen Technology, Inc		205,744
1,896	*e	Bankrate, Inc		90,856
887	e	Barrett Business Services		22,911
6,396		Blackbaud, Inc		141,224
4,796	*	Blackboard, Inc		202,008
2,163	*	Blue Coat Systems, Inc		107,112
7,565	*e	BPZ Energy, Inc		42,213

207

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
438	*	CACI International, Inc (Class A)	$	21,396
1,767	*	Capella Education Co		81,335
5,028		Catalina Marketing Corp		158,382
706	*	Cavium Networks, Inc		15,970
2,387	*e	CBIZ, Inc		17,544
5,746	*	Chordiant Software, Inc		89,982
368	*	Clayton Holdings, Inc		4,192
25,330	*e	CNET Networks, Inc		207,453
8,361	*	Cogent Communications Group, Inc		249,743
7,319	*e	Cogent, Inc		107,516
5,893		Cognex Corp		132,651
5,890	*e	Commvault Systems, Inc		101,720
1,086	e	Computer Programs & Systems, Inc		33,644
3,056	*	COMSYS IT Partners, Inc		69,707
6,291	*e	Concur Technologies, Inc		143,749
3,186	*	CoStar Group, Inc		168,476
2,541	*	Covansys Corp		86,216
3,096	*	CSG Systems International, Inc		82,075
5,399	*e	Cybersource Corp		65,112
5,571	*	DealerTrack Holdings, Inc		205,236
6,924	*	Digital River, Inc		313,311
3,845	*e	DivX, Inc		57,675
1,354	*	Double-Take Software, Inc		22,219
616	*e	DynCorp International, Inc (Class A)		13,546
4,995	*	Echelon Corp		78,072
7,687	*	Eclipsys Corp		152,203
3,310	*	eCollege.com, Inc		73,648
6,754	*e	eFunds Corp		238,349
9,823	*	Epicor Software Corp		146,068
4,296	*	EPIQ Systems, Inc		69,423
5,299	*e	Equinix, Inc		484,700
4,985	*e	Evergreen Energy, Inc		30,060
2,987	*e	ExlService Holdings, Inc		55,976
5,454	*e	FalconStor Software, Inc		57,540
867	*e	First Advantage Corp (Class A)		19,950
2,326	*	Forrester Research, Inc		65,430
11,507	*	Gartner, Inc		282,957
1,628		Gevity HR, Inc		31,469
6,860	*	Global Cash Access, Inc		109,897
2,610	*	Global Sources Ltd		59,247
630	*	Guidance Software, Inc		8,883
2,914	*e	H&E Equipment Services, Inc		80,834
4,720	e	Healthcare Services Group		139,240
2,643	e	Heartland Payment Systems, Inc		77,519
2,762	*	Heidrick & Struggles International, Inc		141,525
3,502	*	HMS Holdings Corp		67,028
4,132	*	Hudson Highland Group, Inc		88,383
5,159	*e	Hypercom Corp		30,490
1,062	*e	ICT Group, Inc		19,870
3,133	*	iGate Corp		25,127
5,240	*	IHS, Inc (Class A)		241,040
2,038		Imergent, Inc		49,849
3,670	*e	Infocrossing, Inc		67,785
14,702	*	Informatica Corp		217,149

208

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,998	e	Infospace, Inc	$	69,584
1,954		infoUSA, Inc		19,970
3,824	*e	Innerworkings, Inc		61,260
2,089	*e	Innovative Solutions & Support, Inc		48,507
1,375	e	Integral Systems, Inc		33,426
2,070		Interactive Data Corp		55,435
2,169	*	Interactive Intelligence, Inc		44,681
8,170	*e	Internap Network Services Corp		117,811
5,834	*	Interwoven, Inc		81,909
5,255	*	inVentiv Health, Inc		192,386
4,509	*e	Ipass, Inc		24,439
13,257		Jack Henry & Associates, Inc		341,368
1,281	*	JDA Software Group, Inc		25,146
954		Kelly Services, Inc (Class A)		26,197
4,215	*e	Kenexa Corp		158,948
4,322	*	Kforce, Inc		69,066
4,615	*e	Knot, Inc		93,177
5,805	*	Korn/Ferry International		152,439
7,798	*	Labor Ready, Inc		180,212
8,651	*e	Lionbridge Technologies		50,954
1,635	*e	Liquidity Services, Inc		30,705
6,091	*e	LivePerson, Inc		32,587
3,175	*e	LoJack Corp		70,771
6,426	*	Magma Design Automation, Inc		90,221
3,656	*	Manhattan Associates, Inc		102,039
604	*	Mantech International Corp (Class A)		18,621
3,693	e	Marchex, Inc (Class B)		60,270
8,631	*	Mentor Graphics Corp		113,670
1,383	*e	MicroStrategy, Inc (Class A)		130,680
3,956	*e	Midway Games, Inc		25,160
17,700	*	Move, Inc		79,296
1,763	*	MPS Group, Inc		23,571
2,236	*	Ness Technologies, Inc		29,090
7,879	*e	NetFlix, Inc		152,774
4,410	*	Network Equipment Technologies, Inc		42,071
6,330	e	NIC, Inc		43,297
22,121	*e	Nuance Communications, Inc		370,084
4,704	*	Omniture, Inc		107,816
1,290	*	On Assignment, Inc		13,829
4,195	*e	Online Resources Corp		46,061
9,576	*	OpenTV Corp (Class A)		20,301
14,485	*e	Opsware, Inc		137,752
5,075	*e	Packeteer, Inc		39,636
8,849	*	Parametric Technology Corp		191,227
1,999	*	PDF Solutions, Inc		23,648
2,054	*e	PeopleSupport, Inc		23,313
4,864	*e	Perficient, Inc		100,685
6,820	*	Phase Forward, Inc		114,781
2,705	e	Portfolio Recovery Associates, Inc		162,354
2,206	*	PRA International		55,812
1,322	*	Premiere Global Services, Inc		17,212
6,824	*	Progress Software Corp		216,935
837	*	Protection One, Inc		12,522
1,713		QAD, Inc		14,218

209

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,970	e	Quality Systems, Inc	$	112,771
9,943	*	Quest Software, Inc		160,977
4,457	*e	Radiant Systems, Inc		59,011
1,083	*e	Radisys Corp		13,429
4,690	*e	Raser Technologies, Inc		34,659
1,390	e	Renaissance Learning, Inc		18,279
2,871	*e	RightNow Technologies, Inc		47,113
4,843		Rollins, Inc		110,275
13,797	*	Sapient Corp		106,651
483	*	Secure Computing Corp		3,666
4,937	*e	Smith Micro Software, Inc		74,351
4,606	*e	Sohu.com, Inc		147,346
2,586	*	SonicWALL, Inc		22,214
42,363	*	Sonus Networks, Inc		360,933
11,083		Sotheby's		510,040
1,069	*	Sourcefire, Inc		14,955
4,839	*	Spherion Corp		45,438
3,101	*e	SPSS, Inc		136,878
3,988	*e	SRA International, Inc (Class A)		100,737
1,750	*	Stratasys, Inc		82,215
1,527	*	Sybase, Inc		36,480
5,239	*	SYKES Enterprises, Inc		99,489
3,083	*	Synchronoss Technologies, Inc		90,455
2,083		Syntel, Inc		63,302
10,722	*e	Take-Two Interactive Software, Inc		214,118
245	e	TAL International Group, Inc		7,279
2,638	*	Taleo Corp (Class A)		59,434
818	*	TechTarget, Inc		10,511
6,995	*	TeleTech Holdings, Inc		227,198
3,638	e	TheStreet.com, Inc		39,581
11,160	*	THQ, Inc		340,603
920	*e	Tiens Biotech Group USA, Inc		3,524
4,663	*e	TradeStation Group, Inc		54,324
6,240	*	Transaction Systems Architects, Inc		210,038
1,214	*e	Travelzoo, Inc		32,280
7,622	*	Trizetto Group, Inc		147,562
4,176	*	Ultimate Software Group, Inc		120,812
1,617	*	Unica Corp		26,681
2,998		United Online, Inc		49,437
361	*	Universal Compression Holdings, Inc		26,162
16,734	*	Valueclick, Inc		492,984
4,492	*e	Vasco Data Security International		102,238
1,425	*e	Veraz Networks, Inc		9,291
1,226	*	Vertrue, Inc		59,804
2,541	*	Vignette Corp		48,686
3,351	*	Visual Sciences, Inc		51,840
2,156	*	Vocus, Inc		54,137
7,551	*	Websense, Inc		160,459
12,581	*	Wind River Systems, Inc		138,391
		TOTAL BUSINESS SERVICES		17,883,203
CHEMICALS AND ALLIED PRODUCTS - 8.44%
5,215	*e	Acadia Pharmaceuticals, Inc		71,289
3,552	*e	Acorda Therapeutics, Inc		60,597

210

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,926	*e	Adams Respiratory Therapeutics, Inc	$	233,425
2,383	*e	Advanced Magnetics, Inc		138,595
1,470	*	Albany Molecular Research, Inc		21,830
6,111	*e	Alexion Pharmaceuticals, Inc		275,362
3,340	*	Alexza Pharmaceuticals, Inc		27,622
16,835	*	Alkermes, Inc		245,791
6,846	*	Allos Therapeutics, Inc		30,259
5,438	*e	Alnylam Pharmaceuticals, Inc		82,603
7,865	*	American Oriental Bioengineering, Inc		69,999
3,303	e	American Vanguard Corp		47,299
649	*	Amicus Therapeutics, Inc		7,464
1,540	*	Animal Health International, Inc		22,315
5,385	*e	Arqule, Inc		37,964
7,780	*e	Array Biopharma, Inc		90,793
5,660	*e	Arrowhead Research Corp		28,470
4,717	*	Auxilium Pharmaceuticals, Inc		75,189
3,119	*e	Aventine Renewable Energy Holdings, Inc		52,929
3,264		Balchem Corp		59,307
1,589	*	Bentley Pharmaceuticals, Inc		19,290
794	*	Biodel, Inc		15,721
9,816	*	Bioenvision, Inc		56,736
16,076	*e	BioMarin Pharmaceuticals, Inc		288,403
1,792	*	BioMimetic Therapeutics, Inc		28,009
6,478	*	Bionovo, Inc		25,005
583	*	Bradley Pharmaceuticals, Inc		12,657
2,645	*e	Cadence Pharmaceuticals, Inc		32,084
1,519	*	Caraco Pharmaceutical Laboratories Ltd		23,058
12,419	*e	Cell Genesys, Inc		41,604
909		CF Industries Holdings, Inc		54,440
2,516	*	Chattem, Inc		159,464
9,266	*e	Cubist Pharmaceuticals, Inc		182,633
5,382	*e	Cypress Bioscience, Inc		71,365
4,004	*e	Cytokinetics, Inc		22,623
14,547	*	CytRx Corp		45,387
13,939	*e	Dendreon Corp		98,688
3,549	*	Digene Corp		213,117
14,027	*e	Discovery Laboratories, Inc		39,696
10,440	*e	Durect Corp		40,194
11,990	*e	Encysive Pharmaceuticals, Inc		21,342
6,340	*e	Enzon Pharmaceuticals, Inc		49,769
11,020	*	GenVec, Inc		25,897
12,117	*e	Geron Corp		85,304
2,682	*e	GTx, Inc		43,422
10,767	*e	Halozyme Therapeutics, Inc		99,379
9,261	*	Hercules, Inc		181,979
22,499	*e	Human Genome Sciences, Inc		200,691
3,868	*e	Idenix Pharmaceuticals, Inc		22,821
11,607	*	Immucor, Inc		324,648
8,618	*	Indevus Pharmaceuticals, Inc		57,999
1,630	e	Innophos Holdings, Inc		23,309
1,224	e	Inter Parfums, Inc		32,583
3,904	*e	InterMune, Inc		101,270
2,144	*e	Inverness Medical Innovations, Inc		109,387
7,097	*e	Javelin Pharmaceuticals, Inc		43,930

211

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,504		Kaiser Aluminum Corp	$	182,492
7,723	*	Keryx Biopharmaceuticals, Inc		75,454
1,571		Koppers Holdings, Inc		52,911
517		Kronos Worldwide, Inc		13,054
5,951	*	KV Pharmaceutical Co (Class A)		162,105
3,555	*	Landec Corp		47,637
14,902	e	Ligand Pharmaceuticals, Inc (Class B)		102,526
2,670	e	Mannatech, Inc		42,426
21,127	*e	Medarex, Inc		301,905
8,666	*	Medicines Co		152,695
9,358	e	Medicis Pharmaceutical Corp (Class A)		285,793
3,570	*	Medivation, Inc		72,935
6,575		Meridian Bioscience, Inc		142,415
13,380	*	MGI Pharma, Inc		299,311
7,759	*e	Minrad International, Inc		46,011
640	*e	Molecular Insight Pharmaceuticals, Inc		6,042
1,760	*	Momenta Pharmaceuticals, Inc		17,741
4,051	*e	Nabi Biopharmaceuticals		18,635
4,240	*e	Nastech Pharmaceutical Co, Inc		46,258
3,354	*e	Neurocrine Biosciences, Inc		37,665
546	e	NewMarket Corp		26,410
1,544	*e	Northfield Laboratories, Inc		2,192
1,101	*	Novacea, Inc		10,404
4,340	*e	Noven Pharmaceuticals, Inc		101,773
730	*e	Obagi Medical Products, Inc		12,936
2,282	*e	Omrix Biopharmaceuticals, Inc		71,792
8,031	*e	Onyx Pharmaceuticals, Inc		216,034
7,510	*	OraSure Technologies, Inc		61,432
1,007	*	Orexigen Therapeutics, Inc		15,125
9,672	*e	OSI Pharmaceuticals, Inc		350,223
2,094	*e	Osiris Therapeutics, Inc		28,290
3,883	*e	Pacific Ethanol, Inc		51,256
6,495	*e	Pain Therapeutics, Inc		56,571
5,331	*	Par Pharmaceutical Cos, Inc		150,494
4,700	*	Parexel International Corp		197,682
3,768	*e	Penwest Pharmaceuticals Co		46,987
6,618		Perrigo Co		129,580
3,588	*	PetMed Express, Inc		46,070
4,334	*e	Pharmion Corp		125,469
3,844	*e	Poniard Pharmaceuticals, Inc		26,139
4,320	*e	Pozen, Inc		78,062
4,009	*e	Progenics Pharmaceuticals, Inc		86,474
5,350	*	Protalix BioTherapeutics, Inc		144,397
4,872	*	Quidel Corp		85,552
7,069	*e	Salix Pharmaceuticals Ltd		86,949
8,452	*e	Santarus, Inc		43,697
4,930	*e	Sciele Pharma, Inc		116,151
1,666	*	Somaxon Pharmaceuticals, Inc		20,259
9,310	*e	SuperGen, Inc		51,764
2,556	*e	SurModics, Inc		127,800
717	*	Synta Pharmaceuticals Corp		5,951
4,233	*e	Tanox, Inc		82,163
5,361	*e	Tercica, Inc		27,341
1,400	*e	Trubion Pharmaceuticals, Inc		29,232

212

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,044	e	UAP Holding Corp	$	152,026
3,484	*	United Therapeutics Corp		222,140
1,220	*e	US BioEnergy Corp		13,859
1,425	*e	USANA Health Sciences, Inc		63,755
15,927		Valeant Pharmaceuticals International		265,822
4,440	*e	Vanda Pharmaceuticals, Inc		89,954
4,749	*e	Verasun Energy Corp		68,766
10,292	*	Viropharma, Inc		142,030
2,420	*e	Visicu, Inc		22,143
4,507	*e	WR Grace & Co		110,376
3,722	*e	Xenoport, Inc		165,331
18,757	*	XOMA Ltd		57,021
6,617	*e	Zymogenetics, Inc		96,674
		TOTAL CHEMICALS AND ALLIED PRODUCTS		10,861,565
COAL MINING - 0.23%
10,858	*e	Alpha Natural Resources, Inc		225,738
11,468	*e	International Coal Group, Inc		68,579
		TOTAL COAL MINING		294,317
COMMUNICATIONS - 2.71%
4,272	*e	Anixter International, Inc		321,297
762	*e	Aruba Networks, Inc		15,316
4,260	*	Authorize.Net Holdings, Inc		76,211
7,628	*e	Brightpoint, Inc		105,190
3,453	*	Cbeyond Communications, Inc		132,975
4,511	*e	Centennial Communications Corp		42,809
10,898		Citadel Broadcasting Corp		70,292
1,837		Consolidated Communications Holdings, Inc		41,516
2,165	*e	Crown Media Holdings, Inc (Class A)		15,588
216		CT Communications, Inc		6,590
2,055	*e	Cumulus Media, Inc (Class A)		19,214
24,519	*e	Dobson Communications Corp (Class A)		272,406
5,435	*	Entravision Communications Corp (Class A)		56,687
1,790	*	Eschelon Telecom, Inc		52,984
639	e	Fairpoint Communications, Inc		11,342
21,147	*	Foundry Networks, Inc		352,309
1,262	*	General Communication, Inc (Class A)		16,166
2,037	*e	GeoEye, Inc		44,264
1,701	*e	Global Crossing Ltd		32,115
3,125	*e	Globalstar, Inc		32,344
1,113		Golden Telecom, Inc		61,226
4,192	*e	Harris Stratex Networks, Inc (Class A)		75,372
1,054	*e	Hughes Communications, Inc		54,998
5,457	*	Ibasis, Inc		54,843
7,006	*	ICO Global Communications Holdings Ltd		24,381
769	*	InPhonic, Inc		3,584
2,105		iPCS, Inc		71,296
8,274	*	j2 Global Communications, Inc		288,763
2,244	*e	Knology, Inc		38,978
2,739	*e	Lodgenet Entertainment Corp		87,812
5,859	*	Mastec, Inc		92,689
497	*	Nexstar Broadcasting Group, Inc (Class A)		6,531
2,249	e	North Pittsburgh Systems, Inc		47,791

213

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,118	*	Novatel Wireless, Inc	$	133,170
4,605		NTELOS Holdings Corp		127,282
4,347	*	Orbcomm, Inc		71,334
4,570	*e	PAETEC Holding Corp		51,595
860	*	Rural Cellular Corp (Class A)		37,677
138		Salem Communications Corp (Class A)		1,530
3,244	*	SAVVIS, Inc		160,610
200		Shenandoah Telecom Co		10,166
3,996	e	Sinclair Broadcast Group, Inc (Class A)		56,823
3,604	*e	Spanish Broadcasting System, Inc (Class A)		15,497
2,080	*e	Switch & Data Facilities Co, Inc		39,915
8,115	*e	Terremark Worldwide, Inc		52,342
16,170	*e	TiVo, Inc		93,624
4,887	*e	Vonage Holdings Corp		15,199
		TOTAL COMMUNICATIONS		3,492,643
DEPOSITORY INSTITUTIONS - 1.33%
1,702	e	Bank of the Ozarks, Inc		47,435
85	e	Capitol Bancorp Ltd		2,323
442	e	Cascade Bancorp		10,228
910	e	Cass Information Systems, Inc		32,997
338	e	City Bank		10,650
1,647	e	CoBiz, Inc		29,844
2,672	*e	Dollar Financial Corp		76,152
1,292	e	Enterprise Financial Services Corp		32,119
7,753	*e	Euronet Worldwide, Inc		226,077
327		First Busey Corp		6,537
1,221		First Republic Bank		65,519
1,256	e	First South Bancorp, Inc		33,786
495		Frontier Financial Corp		11,152
637		K-Fed Bancorp		9,995
329	e	Macatawa Bank Corp		5,234
7,047	*e	Net 1 UEPS Technologies, Inc		170,185
8,989	e	NewAlliance Bancshares, Inc		132,318
1,070	*e	Oritani Financial Corp		15,290
1,504	*e	Pinnacle Financial Partners, Inc		44,157
267		Preferred Bank		10,680
17	e	Premierwest Bancorp		230
2,021	e	PrivateBancorp, Inc		58,205
949	e	QC Holdings, Inc		14,235
1,127	e	Sierra Bancorp		31,781
4,742	*	Signature Bank		161,702
280		Southside Bancshares, Inc		6,082
1,429	e	Suffolk Bancorp		45,614
3,113	*e	Superior Bancorp		31,846
1,103	*e	SVB Financial Group		58,580
517	*e	Texas Capital Bancshares, Inc		11,555
12,760	e	Trustco Bank Corp NY		126,069
1,563	e	United Security Bancshares		31,854
100	e	Vineyard National Bancorp		2,297
2,512	*e	Virginia Commerce Bancorp		42,478
252	*	Wauwatosa Holdings, Inc		4,168
1,367	e	Westamerica Bancorporation		60,476
1,598	*e	Western Alliance Bancorp		47,700

214

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
470		Wilshire Bancorp, Inc	$	5,725
		TOTAL DEPOSITORY INSTITUTIONS		1,713,275
EATING AND DRINKING PLACES - 2.48%
2,865	*	AFC Enterprises		49,536
11,061		Applebees International, Inc		266,570
1,800	*	Benihana, Inc (Class A)		36,000
2,628	*e	BJ's Restaurants, Inc		51,877
2,640	*e	Buffalo Wild Wings, Inc		109,798
4,932	*e	California Pizza Kitchen, Inc		105,939
1,569	*e	Carrols Restaurant Group, Inc		23,927
2,430		CBRL Group, Inc		103,226
2,230	*	CEC Entertainment, Inc		78,496
5,466	*e	Chipotle Mexican Grill, Inc (Class B)		429,792
10,622		CKE Restaurants, Inc		213,184
15,895	*	Denny's Corp		70,733
1,207	e	IHOP Corp		65,697
2,834	*	Jack in the Box, Inc		201,044
10,697	*e	Krispy Kreme Doughnuts, Inc		99,054
2,229	*	McCormick & Schmick's Seafood Restaurants, Inc		57,820
643	*	Morton's Restaurant Group, Inc		11,645
2,263	*e	Papa John's International, Inc		65,084
4,331	*e	PF Chang's China Bistro, Inc		152,451
4,160	*	Rare Hospitality International, Inc		111,363
2,897	*e	Red Robin Gourmet Burgers, Inc		116,952
7,368	e	Ruby Tuesday, Inc		193,999
3,111	*	Ruth's Chris Steak House, Inc		52,856
11,239	*e	Sonic Corp		248,607
8,871	*	Texas Roadhouse, Inc (Class A)		113,460
10,665		Triarc Cos (Class B)		167,441
		TOTAL EATING AND DRINKING PLACES		3,196,551
EDUCATIONAL SERVICES - 0.79%
14,559	*e	Corinthian Colleges, Inc		237,166
10,067		DeVry, Inc		342,479
595	*	Lincoln Educational Services Corp		8,842
2,446		Strayer Education, Inc		322,163
4,155	*e	Universal Technical Institute, Inc		105,495
		TOTAL EDUCATIONAL SERVICES		1,016,145
ELECTRIC, GAS, AND SANITARY SERVICES - 0.99%
2,558		American Ecology Corp		54,792
1,636	*	Clean Energy Fuels Corp		20,548
2,841	*e	Clean Harbors, Inc		140,402
2,337	e	Consolidated Water Co, Inc		68,497
6,143	e	Crosstex Energy, Inc		176,488
304		EnergySouth, Inc		15,504
486	*	EnerNOC, Inc		18,531
7,106		ITC Holdings Corp		288,717
1,145		Markwest Hydrocarbon, Inc		65,757
320		Metal Management, Inc		14,102
2,255	e	Ormat Technologies, Inc		84,968
2,333	*e	Pike Electric Corp		52,213
8,094	*	Waste Connections, Inc		244,763

215

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
819		Waste Industries USA, Inc	$	27,961
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		1,273,243
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.58%
3,626	*e	Acme Packet, Inc		41,663
5,215		Acuity Brands, Inc		314,360
5,138		Adtran, Inc		133,434
6,932	*e	Advanced Analogic Technologies, Inc		67,240
5,967	*	Advanced Energy Industries, Inc		135,212
6,070	*e	American Superconductor Corp		117,212
11,058	*	AMIS Holdings, Inc		138,446
17,562	*e	Amkor Technology, Inc		276,602
9,892	*e	Anadigics, Inc		136,411
17,855	*	Applied Micro Circuits Corp		44,638
16,935	*	Arris Group, Inc		297,887
9,271	*e	Atheros Communications, Inc		285,918
4,934	*	ATMI, Inc		148,020
33,977	*e	Avanex Corp		61,159
1,943	*	AZZ, Inc		65,382
7,622		Baldor Electric Co		375,612
2,582	*	Benchmark Electronics, Inc		58,405
2,014	*	BigBand Networks, Inc		26,404
8,272	*	C-COR, Inc		116,304
3,242	*	Ceradyne, Inc		239,778
2,945	*e	Color Kinetics, Inc		98,392
3,904	*	Comtech Telecommunications Corp		181,224
21,991	*	Conexant Systems, Inc		30,348
1,105	*	CPI International, Inc		21,912
1,610		Cubic Corp		48,590
3,352	*e	Diodes, Inc		140,013
2,005	*	Ditech Networks, Inc		16,421
279	*	DSP Group, Inc		5,711
2,985	*e	DTS, Inc		64,983
1,336	*	EMS Technologies, Inc		29,472
6,639	*e	Energy Conversion Devices, Inc		204,614
15,740	*e	Evergreen Solar, Inc		146,382
2,672	*	Exar Corp		35,805
44,620	*e	Finisar Corp		168,664
3,263	e	Franklin Electric Co, Inc		153,948
10,962	*e	FuelCell Energy, Inc		86,819
38,627	*	Gemstar-TV Guide International, Inc		190,045
4,734	*	Genlyte Group, Inc		371,808
3,207	*e	Greatbatch, Inc		103,907
12,975	*e	Harmonic, Inc		115,088
15,840	*e	Hexcel Corp		333,749
2,712	*	Hittite Microwave Corp		115,884
7,872	*e	Interdigital Communications Corp		253,242
601		Inter-Tel, Inc		14,382
6,350	*e	InterVoice, Inc		52,896
1,637	*	IPG Photonics Corp		32,658
2,490	*e	iRobot Corp		49,427
2,609	*e	IXYS Corp		21,785
344	*	Lamson & Sessions Co		9,140
1,174	*	Littelfuse, Inc		39,646

216

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
7,608	*	Mattson Technology, Inc	$	73,798
3,859	*e	Medis Technologies Ltd		56,689
9,339		Micrel, Inc		118,792
12,800	*e	Microsemi Corp		306,560
9,039	*	Microtune, Inc		47,274
7,183	*	MIPS Technologies, Inc		63,139
4,178	*e	Monolithic Power Systems, Inc		72,906
1,527	*	Moog, Inc (Class A)		67,356
646	*	Multi-Fineline Electronix, Inc		11,085
2,944	*e	Netlogic Microsystems, Inc		93,737
2,458	*	Omnivision Technologies, Inc		44,514
40,590	*	ON Semiconductor Corp		435,125
18,912	*	On2 Technologies, Inc		56,736
1,539	*	Oplink Communications, Inc		23,085
3,071	*e	OpNext, Inc		40,660
490	*e	Optium Corp		6,199
1,144	*	OSI Systems, Inc		31,288
1,421	*e	Pericom Semiconductor Corp		15,858
4,695	*	Plexus Corp		107,938
4,729	*	PLX Technology, Inc		52,776
33,062	*e	PMC - Sierra, Inc		255,569
15,307	*	Polycom, Inc		514,315
864	*	Powell Industries, Inc		27,441
2,709	e	Raven Industries, Inc		96,738
15,290	*e	RF Micro Devices, Inc		95,410
1,978	*	Seachange International, Inc		15,349
9,874	*	Semtech Corp		171,116
13,363	*	Silicon Image, Inc		114,655
6,526	*e	Sirenza Microdevices, Inc		77,464
3,704	*e	Skyworks Solutions, Inc		27,224
8,362	*	Smart Modular Technologies WWH, Inc		115,061
1,267	*	Standard Microsystems Corp		43,509
1,920	*e	Supertex, Inc		60,173
11,340	*	Sycamore Networks, Inc		45,587
3,781	*	Symmetricom, Inc		31,760
4,316	*e	Synaptics, Inc		154,470
8,861	*e	Syntax-Brillian Corp		43,596
2,486		Technitrol, Inc		71,274
2,446	*	Techwell, Inc		32,043
8,055	*	Tessera Technologies, Inc		326,630
9,583	*	Trident Microsystems, Inc		175,848
865	*	TTM Technologies, Inc		11,245
2,581	*e	Universal Display Corp		40,548
2,395	*	Universal Electronics, Inc		86,986
8,373	*e	Utstarcom, Inc		46,973
4,087	*	Viasat, Inc		131,193
3,290	e	Vicor Corp		43,527
3,543	*e	Volterra Semiconductor Corp		50,311
3,630	*	Zoltek Cos, Inc		150,754
2,723	*	Zoran Corp		54,569
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		11,053,895
ENGINEERING AND MANAGEMENT SERVICES - 3.16%
3,039	*	Advisory Board Co		168,847

217

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,164	*	Aecom Technology Corp	$	128,119
580	*	Affymax, Inc		15,637
6,188	*e	Ariad Pharmaceuticals, Inc		33,972
449	e	CDI Corp		14,458
1,821	*e	CRA International, Inc		87,772
9,941	*e	CV Therapeutics, Inc		131,321
4,789		Diamond Management & Technology Consultants, Inc		63,215
6,640	*e	eResearch Technology, Inc		63,146
16,561	*	Exelixis, Inc		200,388
1,779	*	Exponent, Inc		39,796
3,605	*	Greenfield Online, Inc		57,356
4,734	*	Harris Interactive, Inc		25,327
3,148	*	Huron Consulting Group, Inc		229,835
8,531	*e	Incyte Corp		51,186
6,760	*	Infrasource Services, Inc		250,796
7,144	*	Isis Pharmaceuticals, Inc		69,154
2,147	*	Kendle International, Inc		78,945
6,992	*e	Kosan Biosciences, Inc		36,498
810	e	Landauer, Inc		39,893
1,919	*	LECG Corp		28,996
5,684	*e	Lifecell Corp		173,589
6,415	*e	Luminex Corp		78,969
284		MAXIMUS, Inc		12,320
1,183	*	Michael Baker Corp		43,948
440	*	MTC Technologies, Inc		10,806
7,227	*e	Myriad Genetics, Inc		268,772
6,827	*e	Navigant Consulting, Inc		126,709
5,160	*	Neurogen Corp		34,262
5,599	*	Omnicell, Inc		116,347
1,485	*	PharmaNet Development Group, Inc		47,342
4,944	*	Regeneration Technologies, Inc		55,620
10,620	*e	Regeneron Pharmaceuticals, Inc		190,310
25,620	*e	Rentech, Inc		66,356
8,250	*	Resources Connection, Inc		273,735
4,263	*e	Rigel Pharmaceuticals, Inc		37,983
8,850	*	Savient Pharmaceuticals, Inc		109,917
6,945	*	Seattle Genetics, Inc		68,130
5,091	*e	Senomyx, Inc		68,729
1,283	*	Stanley, Inc		22,606
3,028	*e	Symyx Technologies, Inc		34,852
1,852	*e	Tejon Ranch Co		81,858
9,705	*e	Telik, Inc		32,803
5,864	*	Tetra Tech, Inc		126,369
5,927	*e	Verenium Corp		30,050
738	*	Washington Group International, Inc		59,047
1,737		Watson Wyatt & Co Holdings (Class A)		87,684
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		4,073,770
ENVIRONMENTAL QUALITY AND HOUSING - 0.01%
1,535	*	Home Solutions of America, Inc		9,179
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		9,179
FABRICATED METAL PRODUCTS - 0.98%
101		Ameron International Corp		9,109

218

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
823		Aptargroup, Inc	$	29,266
1,350	*	Chart Industries, Inc		38,394
2,125	e	Dynamic Materials Corp		79,688
1,580		Gulf Island Fabrication, Inc		54,826
1,473	e	Insteel Industries, Inc		26,514
954	*	Ladish Co, Inc		41,022
443		Lifetime Brands, Inc		9,059
4,829	*e	Mobile Mini, Inc		141,007
499	*	NCI Building Systems, Inc		24,616
594	*	PGT, Inc		6,492
2,286		Silgan Holdings, Inc		126,370
2,952		Simpson Manufacturing Co, Inc		99,600
5,047	*e	Smith & Wesson Holding Corp		84,537
3,750	*	Sturm Ruger & Co, Inc		58,200
1,241	e	Sun Hydraulics Corp		61,119
10,431	*e	Taser International, Inc		145,617
3,052	e	Valmont Industries, Inc		222,064
		TOTAL FABRICATED METAL PRODUCTS		1,257,500
FOOD AND KINDRED PRODUCTS - 0.90%
3,414	*	Altus Pharmaceuticals, Inc		39,398
1,079	*	American Dairy, Inc		20,134
1,237	*	Boston Beer Co, Inc (Class A)		48,676
967		Coca-Cola Bottling Co Consolidated		48,640
13,727	*e	Darling International, Inc		125,465
3,687		Flowers Foods, Inc		122,998
1,531		J&J Snack Foods Corp		57,780
4,625	*e	Jones Soda Co		64,843
3,286		Lancaster Colony Corp		137,651
1,520		Lance, Inc		35,811
2,030	*	M&F Worldwide Corp		135,157
149		MGP Ingredients, Inc		2,518
1,537	e	National Beverage Corp		17,691
2,480	*e	Peet's Coffee & Tea, Inc		61,082
1,136	*	Ralcorp Holdings, Inc		60,719
1,755	e	Reddy Ice Holdings, Inc		50,053
1,700		Sanderson Farms, Inc		76,534
667	*	Synutra International, Inc		13,547
1,451		Tootsie Roll Industries, Inc		40,207
		TOTAL FOOD AND KINDRED PRODUCTS		1,158,904
FOOD STORES - 0.27%
198	e	Arden Group, Inc (Class A)		27,007
632	*	Great Atlantic & Pacific Tea Co, Inc		21,197
1,773		Ingles Markets, Inc (Class A)		61,080
1,561	*	Pantry, Inc		71,962
5,298	*	Pathmark Stores, Inc		68,662
5,099	*	Wild Oats Markets, Inc		85,459
281	*	Winn-Dixie Stores, Inc		8,233
		TOTAL FOOD STORES		343,600
FURNITURE AND FIXTURES - 0.89%
422		Ethan Allen Interiors, Inc		14,454
10,691		Herman Miller, Inc		337,836

219

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
9,258	e	Interface, Inc (Class A)	$	174,606
2,224		Kimball International, Inc (Class B)		31,158
5,062	e	Sealy Corp		83,624
8,308	*e	Select Comfort Corp		134,756
13,850	e	Tempur-Pedic International, Inc		358,715
609	*	Williams Scotsman International, Inc		14,500
		TOTAL FURNITURE AND FIXTURES		1,149,649
FURNITURE AND HOMEFURNISHINGS STORES - 0.36%
4,669	*e	Guitar Center, Inc		279,253
8,229		Knoll, Inc		184,330
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		463,583
GENERAL BUILDING CONTRACTORS - 0.52%
213	e	Amrep Corp		10,128
4,138		McGrath RentCorp		139,409
3,475	*	Perini Corp		213,817
1,214	*e	Team, Inc		54,594
8,660		Walter Industries, Inc		250,794
		TOTAL GENERAL BUILDING CONTRACTORS		668,742
GENERAL MERCHANDISE STORES - 0.14%
4,281	*	99 Cents Only Stores		56,124
535		Bon-Ton Stores, Inc		21,432
763	*e	Cabela's, Inc		16,885
158	*e	Conn's, Inc		4,512
4,593	*e	Retail Ventures, Inc		74,085
694		Stein Mart, Inc		8,508
		TOTAL GENERAL MERCHANDISE STORES		181,546
HEALTH SERVICES - 2.00%
2,418	*e	Alliance Imaging, Inc		22,705
4,124	*	Amedisys, Inc		149,825
1,947	*	American Dental Partners, Inc		50,564
2,934	*	Apria Healthcare Group, Inc		84,411
2,776	*e	Assisted Living Concepts, Inc (A Shares)		29,564
2,021	*e	Bio-Reference Labs, Inc		55,274
1,246	*e	Corvel Corp		32,570
461	*	Cross Country Healthcare, Inc		7,689
3,760	*e	CryoLife, Inc		48,918
2,013	*e	eHealth, Inc		38,428
583	*e	Emeritus Corp		18,061
5,274	*e	Enzo Biochem, Inc		78,846
198	*	Genesis HealthCare Corp		13,547
2,402	*e	Genomic Health, Inc		45,158
1,505	*	Gentiva Health Services, Inc		30,190
5,879	*e	Healthways, Inc		278,488
5,287	*e	Hythiam, Inc		45,733
8,225	*	Immunomedics, Inc		34,134
3,370	e	LCA-Vision, Inc		159,266
2,382	*e	LHC Group, Inc		62,408
1,130	*	Magellan Health Services, Inc		52,511
2,902	*e	Matria Healthcare, Inc		87,873
572	*	Medcath Corp		18,190

220

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
784	e	National Healthcare Corp	$	40,454
15,355	*e	Nektar Therapeutics		145,719
3,454	*e	Nighthawk Radiology Holdings, Inc		62,345
430	*	Odyssey HealthCare, Inc		5,100
2,074	e	Option Care, Inc		31,940
9,145	*	Psychiatric Solutions, Inc		331,598
2,194	*e	Radiation Therapy Services, Inc		57,790
853	*e	Sirtris Pharmaceuticals, Inc		8,419
1,935	*	Skilled Healthcare Group, Inc (Class A)		30,012
4,378	*e	Stereotaxis, Inc		57,177
7,164	*	Sun Healthcare Group, Inc		103,806
6,318	*e	Sunrise Senior Living, Inc		252,657
272	*	Symbion, Inc		5,905
		TOTAL HEALTH SERVICES		2,577,275
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.27%
617	*e	Comverge, Inc		19,133
3,442		Granite Construction, Inc		220,908
1,080	*	Great Lakes Dredge & Dock Corp		10,260
4,107	*	Matrix Service Co		102,059
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		352,360
HOLDING AND OTHER INVESTMENT OFFICES - 8.10%
5,606		Acadia Realty Trust		145,476
353	*e	Alexander's, Inc		142,700
2,414		Alexandria Real Estate Equities, Inc		233,723
2,572		Associated Estates Realty Corp		40,097
954	e	Cherokee, Inc		34,859
764	e	Corporate Office Properties Trust		31,332
6,936		Cousins Properties, Inc		201,213
13,081		Crescent Real Estate Equities Co		293,538
8,874		Digital Realty Trust, Inc		334,372
3,372		EastGroup Properties, Inc		147,761
9,097		Equity Inns, Inc		203,773
3,468		Equity Lifestyle Properties, Inc		180,995
10,331		FelCor Lodging Trust, Inc		268,916
4,519		First Industrial Realty Trust, Inc		175,156
3,078		Getty Realty Corp		80,890
6,475	e	Glimcher Realty Trust		161,875
6,647		Highwoods Properties, Inc		249,263
4,382		Home Properties, Inc		227,557
1,598	e	Inland Real Estate Corp		27,134
61,800		iShares Russell 2000 Growth Index Fund		5,301,204
2,123	e	JER Investors Trust, Inc		31,845
2,609		Maguire Properties, Inc		89,567
4,169		Mid-America Apartment Communities, Inc		218,789
169		National Health Investors, Inc		5,361
13,170		Nationwide Health Properties, Inc		358,224
7,032	*	NexCen Brands, Inc		78,336
11,153		Omega Healthcare Investors, Inc		176,552
2,382		PennantPark Investment Corp		33,443
1,129		Post Properties, Inc		58,855
2,576		PS Business Parks, Inc		163,241
1,230	*e	Quadra Realty Trust, Inc		15,387

221

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,908		Ramco-Gershenson Properties	$	68,554
1,884		Saul Centers, Inc		85,439
2,840		Sun Communities, Inc		84,547
5,424	e	Tanger Factory Outlet Centers, Inc		203,129
501		Universal Health Realty Income Trust		16,683
7,707	e	Washington Real Estate Investment Trust		262,038
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		10,431,824
HOTELS AND OTHER LODGING PLACES - 0.58%
1,804		Ameristar Casinos, Inc		62,671
2,944	*	Gaylord Entertainment Co		157,916
341	*	Isle of Capri Casinos, Inc		8,170
1,228		Marcus Corp		29,177
1,940	*	Monarch Casino & Resort, Inc		52,089
3,210	*e	Morgans Hotel Group Co		78,260
1,000	*	Riviera Holdings Corp		36,350
5,242	*e	Vail Resorts, Inc		319,081
		TOTAL HOTELS AND OTHER LODGING PLACES		743,714
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.35%
1,580	e	Aaon, Inc		50,323
4,030	e	Actuant Corp (Class A)		254,132
1,609	*	Altra Holdings, Inc		27,804
140		Ampco-Pittsburgh Corp		5,613
3,163	*	Astec Industries, Inc		133,542
2,062	*e	ASV, Inc		35,631
7,274	*	Asyst Technologies, Inc		52,591
1,166	*	Brooks Automation, Inc		21,163
6,245		Bucyrus International, Inc (Class A)		442,021
364	e	Cascade Corp		28,552
8,312	*	Cirrus Logic, Inc		68,990
1,786	*	Columbus McKinnon Corp		57,509
2,823	*	Cray, Inc		21,539
3,444		Curtiss-Wright Corp		160,525
4,647	*	Cymer, Inc		186,809
4,432	*	Dril-Quip, Inc		199,218
8,412	*	Emulex Corp		183,718
2,518	*	ENGlobal Corp		30,594
3,006	*e	Entegris, Inc		35,711
1,521	*	Flotek Industries, Inc		91,184
6,135	*e	Flow International Corp		77,301
2,875	*e	Fuel Tech, Inc		98,469
5,078	*e	Goodman Global, Inc		112,833
1,888		Gorman-Rupp Co		60,152
927	*	Hurco Cos, Inc		46,331
10,087	*e	Intermec, Inc		255,302
3,764	*	Intevac, Inc		80,023
1,377	*e	Isilon Systems, Inc		21,233
3,917		Kaydon Corp		204,154
8,712	*	Kulicke & Soffa Industries, Inc		91,215
713	e	Lindsay Manufacturing Co		31,579
2,544		Lufkin Industries, Inc		164,215
6,821	*	Micros Systems, Inc		371,062
2,314	*e	Middleby Corp		138,423

222

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,893	*	NATCO Group, Inc (Class A)	$	133,194
5,822	*e	Netgear, Inc		211,048
4,321		Nordson Corp		216,741
472	*	Rackable Systems, Inc		5,834
3,621	*	RBC Bearings, Inc		149,366
1,353	*	Rimage Corp		42,741
1,063	e	Sauer-Danfoss, Inc		31,635
3,905	*e	Scansource, Inc		124,921
493	*	Semitool, Inc		4,738
3,863	*e	Sigma Designs, Inc		100,786
11,318	*e	SourceForge, Inc		47,762
1,729	*	STEC, Inc		11,117
1,456	*	Super Micro Computer, Inc		14,575
821	*	T-3 Energy Services, Inc		27,462
1,394		Tennant Co		50,881
3,264	*	TurboChef Technologies, Inc		45,435
760		Twin Disc, Inc		54,652
2,065	*e	Ultratech, Inc		27,526
3,585		Watsco, Inc		195,024
4,997		Woodward Governor Co		268,189
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		5,603,088
INSTRUMENTS AND RELATED PRODUCTS - 8.30%
3,495	*e	Abaxis, Inc		72,906
4,848	*e	Abiomed, Inc		52,261
2,530	*	Accuray, Inc		56,115
11,486	*e	Affymetrix, Inc		285,887
9,905	*e	Align Technology, Inc		239,305
12,106	*e	American Medical Systems Holdings, Inc		218,392
1,545	*e	American Science & Engineering, Inc		87,833
382	*	Anaren, Inc		6,727
1,584	*e	Angiodynamics, Inc		28,528
871	*e	Argon ST, Inc		20,216
4,276	e	Arrow International, Inc		163,685
4,630	*e	Arthrocare Corp		203,303
3,074	*e	Aspect Medical Systems, Inc		45,987
1,865	e	Badger Meter, Inc		52,705
1,382	*	Biosite, Inc		127,821
10,814	*	Bruker BioSciences Corp		97,434
9,620	*e	Cepheid, Inc		140,452
1,764	*e	Coherent, Inc		53,820
1,671		Cohu, Inc		37,180
2,245	*	Cutera, Inc		55,945
3,935	*e	Cyberonics, Inc		66,187
1,260	*	Cynosure, Inc (Class A)		45,902
3,209	*e	Dionex Corp		227,807
3,961	*e	DJ Orthopedics, Inc		163,470
1,815	*	Eagle Test Systems, Inc		29,149
164	e	EDO Corp		5,391
4,358	*e	ESCO Technologies, Inc		158,021
884	*e	Esterline Technologies Corp		42,706
3,006	*e	ev3, Inc		50,741
425	*	Excel Technology, Inc		11,875
2,449	*e	FARO Technologies, Inc		78,025

223

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,905	*	FEI Co	$	191,676
11,133	*e	Flir Systems, Inc		514,901
8,016	*	Formfactor, Inc		307,013
7,274	*	Fossil, Inc		214,510
3,333	*e	Foxhollow Technologies, Inc		70,793
4,140	*	Haemonetics Corp		217,805
9,042	*d	Hologic, Inc		500,113
1,387	*e	ICU Medical, Inc		59,558
3,505	*e	I-Flow Corp		58,674
4,009	*e	II-VI, Inc		108,925
8,986	*e	Illumina, Inc		364,742
11,849	*e	Input/Output, Inc		184,963
992	*e	Insulet Corp		14,086
3,055	*	Integra LifeSciences Holdings Corp		150,978
6,305	*e	Ionatron, Inc		24,590
5,034	*e	Itron, Inc		392,350
5,166	*	Ixia		47,837
1,414	*	Kensey Nash Corp		37,909
7,649	*e	Kyphon, Inc		368,299
5,353	*	L-1 Identity Solutions, Inc		109,469
10,414	*e	LTX Corp		57,902
973	*	Measurement Specialties, Inc		23,041
1,895	*	Medical Action Industries, Inc		34,224
6,586	e	Mentor Corp		267,918
521	*	Merit Medical Systems, Inc		6,231
2,493	*	Micrus Endovascular Corp		61,328
1,824	e	Mine Safety Appliances Co		79,818
401	*	MKS Instruments, Inc		11,108
1,849		MTS Systems Corp		82,595
3,554	*	Natus Medical, Inc		56,580
3,189	*	Northstar Neuroscience, Inc		37,088
5,855	*	NuVasive, Inc		158,144
3,338	*e	NxStage Medical, Inc		43,160
4,069	e	Oakley, Inc		115,560
1,594	*e	Orthofix International NV		71,682
679	*e	OYO Geospace Corp		50,375
3,176	*e	Palomar Medical Technologies, Inc		110,239
3,850		PolyMedica Corp		157,273
2,359	*	Rofin-Sinar Technologies, Inc		162,771
2,419	*	Rudolph Technologies, Inc		40,180
8,867	*e	Sirf Technology Holdings, Inc		183,902
2,834	*e	Sirona Dental Systems, Inc		107,210
4,371	*e	Sonic Innovations, Inc		38,246
1,020	*	Sonic Solutions, Inc		12,862
2,910	*e	SonoSite, Inc		91,461
5,569	*e	Spectranetics Corp		64,155
4,931		STERIS Corp		150,889
555	*	Symmetry Medical, Inc		8,886
4,984	*	Teledyne Technologies, Inc		229,015
8,671	*	Thoratec Corp		159,460
1,433	e	United Industrial Corp		85,951
2,941	*	Varian, Inc		161,255
723	*	Veeco Instruments, Inc		14,995
4,932	*	Ventana Medical Systems, Inc		381,096

224

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,739	*e	Vital Images, Inc	$	74,391
1,601		Vital Signs, Inc		88,936
9,624	*	Vivus, Inc		50,334
3,950	*	Volcano Corp		79,830
5,679	*	Wright Medical Group, Inc		136,977
1,339	*e	X-Rite, Inc		19,777
2,521	*	Zoll Medical Corp		56,244
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		10,688,056
INSURANCE AGENTS, BROKERS AND SERVICE - 0.17%
435		Hilb Rogal & Hobbs Co		18,644
4,276		National Financial Partners Corp		198,022
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		216,666
INSURANCE CARRIERS - 0.61%
1,014	e	21st Century Insurance Group		22,166
3,197		Amtrust Financial Services, Inc		60,072
5,109	*	Centene Corp		109,435
910	*	Darwin Professional Underwriters, Inc		22,905
1,152	*e	Enstar Group Ltd		139,058
1,072	*	First Mercury Financial Corp		22,480
5,123	*	HealthExtras, Inc		151,538
4,867	*	Healthspring, Inc		92,765
288		National Interstate Corp		7,511
1,384	*	Primus Guaranty Ltd		14,836
3,457		Tower Group, Inc		110,278
1,489	*	Universal American Financial Corp		31,686
		TOTAL INSURANCE CARRIERS		784,730
JUSTICE, PUBLIC ORDER AND SAFETY - 0.19%
8,496	*e	Geo Group, Inc		247,234
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		247,234
LEATHER AND LEATHER PRODUCTS - 0.48%
3,144	*e	Genesco, Inc		164,463
8,535	*e	Iconix Brand Group, Inc		189,648
1,735		Steven Madden Ltd		56,839
2,902	*	Timberland Co (Class A)		73,101
4,979		Wolverine World Wide, Inc		137,968
		TOTAL LEATHER AND LEATHER PRODUCTS		622,019
LEGAL SERVICES - 0.29%
7,109	*e	FTI Consulting, Inc		270,355
1,569	*e	Pre-Paid Legal Services, Inc		100,902
		TOTAL LEGAL SERVICES		371,257
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.05%
1,554	*	Emergency Medical Services Corp (Class A)		60,808
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		60,808
LUMBER AND WOOD PRODUCTS - 0.16%
10,871	*	Champion Enterprises, Inc		106,862
1,820	e	Deltic Timber Corp		99,772
		TOTAL LUMBER AND WOOD PRODUCTS		206,634

225

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
METAL MINING - 0.59%
9,789	*	Apex Silver Mines Ltd	$	197,542
24,164	*	Coeur d'Alene Mines Corp		86,749
20,205	*	Hecla Mining Co		172,551
8,125	*e	Idaho General Mines, Inc		51,513
4,533	*	Rosetta Resources, Inc		97,641
1,512	e	Royal Gold, Inc		35,940
4,508	*e	ShengdaTech, Inc		23,983
447	*	Stillwater Mining Co		4,921
4,110	*e	Uranium Resources, Inc		45,333
7,654	*	US Gold Corp		42,097
		TOTAL METAL MINING		758,270
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.20%
533		Blyth, Inc		14,167
5,358	e	Daktronics, Inc		115,090
429		Marine Products Corp		3,531
1,994		Nautilus, Inc		24,008
5,900	*e	Shuffle Master, Inc		97,940
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		254,736
MISCELLANEOUS RETAIL - 1.69%
3,970	*e	1-800-FLOWERS.COM, Inc (Class A)		37,437
2,815	*e	AC Moore Arts & Crafts, Inc		55,202
3,739	e	Big 5 Sporting Goods Corp		95,345
2,261	*e	Blue Nile, Inc		136,564
2,807	*e	Build-A-Bear Workshop, Inc		73,375
4,672		Cash America International, Inc		185,245
5,879	*e	CKX, Inc		81,248
6,386	*	Ezcorp, Inc (Class A)		84,551
461	*	Gander Mountain Co		5,232
3,357	*	GSI Commerce, Inc		76,237
5,323	*	Hibbett Sports, Inc		145,744
5,183		Longs Drug Stores Corp		272,211
2,724	*e	Overstock.com, Inc		49,767
6,323	*	Priceline.com, Inc		434,643
697		Pricesmart, Inc		17,237
2,388	*e	Shutterfly, Inc		51,461
3,071	*e	Stamps.com, Inc		42,318
1,041		Systemax, Inc		21,663
4,381	*e	Valuevision International, Inc (Class A)		49,593
3,672		World Fuel Services Corp		154,444
2,857	*e	Zumiez, Inc		107,937
		TOTAL MISCELLANEOUS RETAIL		2,177,454
MOTION PICTURES - 0.77%
2,051	*	Cinemark Holdings Inc		36,692
2,240	*e	Gaiam, Inc (Class A)		40,835
8,839	*	Macrovision Corp		265,700
6,956	*	National CineMedia, Inc		194,838
22,398	*	Time Warner Telecom, Inc (Class A)		450,200
		TOTAL MOTION PICTURES		988,265

226

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS - 0.06%
4,896	*	Premier Exhibitions, Inc	$	77,161
		TOTAL MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS		77,161
NONDEPOSITORY INSTITUTIONS - 0.66%
10,363	e	Advance America Cash Advance Centers, Inc		183,840
2,968		Advanta Corp (Class B)		92,423
1,285	e	Asta Funding, Inc		49,382
4,651		Centerline Holding Co		83,718
2,075	*e	CompuCredit Corp		72,666
895	*e	Credit Acceptance Corp		24,013
4,461	*	First Cash Financial Services, Inc		104,566
2,450	*e	Information Services Group, Inc		18,743
6,802	*	INVESTools, Inc		67,748
172		Nelnet, Inc (Class A)		4,204
1,244	*e	NewStar Financial, Inc		17,702
2,983	*	World Acceptance Corp		127,464
		TOTAL NONDEPOSITORY INSTITUTIONS		846,469
NONMETALLIC MINERALS, EXCEPT FUELS - 0.03%
1,337	e	AMCOL International Corp		36,513
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		36,513
OIL AND GAS EXTRACTION - 3.59%
352	e	APCO Argentina, Inc		29,888
2,223	*	Arena Resources, Inc		129,179
3,871	e	Atlas America, Inc		207,989
3,604	*e	ATP Oil & Gas Corp		175,299
4,620	*	Atwood Oceanics, Inc		317,024
4,932	*e	Basic Energy Services, Inc		126,111
2,690		Berry Petroleum Co (Class A)		101,359
4,042	*e	Bill Barrett Corp		148,867
2,696	*e	Bois d'Arc Energy, Inc		45,913
3,664	*	Cal Dive International, Inc		60,932
3,830	*e	Carrizo Oil & Gas, Inc		158,830
7,094	*e	Complete Production Services, Inc		183,380
5,428	*	Comstock Resources, Inc		162,677
2,195	*	Contango Oil & Gas Co		79,657
1,165	*	Dawson Geophysical Co		71,601
10,958	*e	Delta Petroleum Corp		220,037
5,972	*e	FX Energy, Inc		54,644
6,069	*e	GeoGlobal Resources, Inc		30,891
1,138	*	Geokinetics, Inc		35,312
1,914	*e	GMX Resources, Inc		66,224
2,685	*e	Goodrich Petroleum Corp		92,982
2,603	*	Grey Wolf, Inc		21,449
3,283	*	Gulfport Energy Corp		65,594
4,386	*e	Hercules Offshore, Inc		142,019
7,868	*	Mariner Energy, Inc		190,799
1,891	*	McMoRan Exploration Co		26,474
12,865	*	Newpark Resources, Inc		99,704
6,351	*	Parallel Petroleum Corp		139,087
14,856	*	Parker Drilling Co		156,582
2,820		Penn Virginia Corp		113,364

227

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
14,738	*e	PetroHawk Energy Corp	$	233,745
385	*	Petroleum Development Corp		18,280
6,895	*e	Petroquest Energy, Inc		100,253
5,498		RPC, Inc		93,686
5,022	*e	Sulphco, Inc		18,129
1,021	*	Superior Offshore International, Inc		18,582
1,970	*e	Superior Well Services, Inc		50,058
5,483	*e	TXCO Resources, Inc		56,365
2,022	*	Venoco, Inc		37,751
8,518	*e	Warren Resources, Inc		99,490
5,118	*	W-H Energy Services, Inc		316,855
4,331	*	Willbros Group, Inc		128,544
		TOTAL OIL AND GAS EXTRACTION		4,625,606
PAPER AND ALLIED PRODUCTS - 0.61%
9,044	*	Cenveo, Inc		209,730
11,733	*e	Graphic Packaging Corp		56,788
5,537		Greif, Inc (Class A)		330,061
1,720	e	Neenah Paper, Inc		70,967
7,775	*	Playtex Products, Inc		115,148
		TOTAL PAPER AND ALLIED PRODUCTS		782,694
PERSONAL SERVICES - 0.41%
4,789		Coinmach Service Corp (Class A)		63,358
1,262	*e	Coinstar, Inc		39,728
869		CPI Corp		60,396
4,495	e	Jackson Hewitt Tax Service, Inc		126,354
15,571	*	Sally Beauty Holdings, Inc		140,139
2,105	*	Steiner Leisure Ltd		103,398
		TOTAL PERSONAL SERVICES		533,373
PETROLEUM AND COAL PRODUCTS - 0.14%
2,157	e	Alon USA Energy, Inc		94,930
1,186	e	Delek US Holdings, Inc		31,607
5,263	*e	Nova Biosource Fuels, Inc		13,421
1,237		WD-40 Co		40,660
		TOTAL PETROLEUM AND COAL PRODUCTS		180,618
PRIMARY METAL INDUSTRIES - 1.25%
7,521		Belden CDT, Inc		416,287
3,386	*	Brush Engineered Materials, Inc		142,178
2,148	*	Century Aluminum Co		117,345
1,369	*e	Coleman Cable, Inc		35,402
1,931	*	Haynes International, Inc		163,034
1,646	*e	LB Foster Co (Class A)		47,207
5,207		Matthews International Corp (Class A)		227,077
3,868	*	RTI International Metals, Inc		291,531
1,852	e	Texas Industries, Inc		145,215
577	*	Universal Stainless & Alloy		20,328
		TOTAL PRIMARY METAL INDUSTRIES		1,605,604
PRINTING AND PUBLISHING - 0.54%
2,400	*e	ACCO Brands Corp		55,320
1,475	*	Consolidated Graphics, Inc		102,188

228

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,198	e	Courier Corp	$	47,920
4,391	e	Martha Stewart Living Omnimedia, Inc (Class A)		75,525
788		Multi-Color Corp		30,976
490	e	Schawk, Inc		9,810
526		Standard Register Co		5,996
5,651	*e	Sun-Times Media Group, Inc (Class A)		29,668
3,933	*e	Valassis Communications, Inc		67,608
7,210	*	VistaPrint Ltd		275,783
		TOTAL PRINTING AND PUBLISHING		700,794
RAILROAD TRANSPORTATION - 0.47%
6,155	e	Florida East Coast Industries		510,742
3,177	*	Genesee & Wyoming, Inc (Class A)		94,801
		TOTAL RAILROAD TRANSPORTATION		605,543
REAL ESTATE - 0.21%
1,016	e	Consolidated-Tomoka Land Co		70,399
2,621	*	Grubb & Ellis Co		30,404
4,458	*e	LoopNet, Inc		104,005
3,877		Thomas Properties Group, Inc		61,954
		TOTAL REAL ESTATE		266,762
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.75%
1,201	*	AEP Industries, Inc		54,057
2,135	*e	Deckers Outdoor Corp		215,422
2,378	*e	Metabolix, Inc		59,521
3,363	*	Skechers U.S.A., Inc (Class A)		98,200
4,016		Titan International, Inc		126,946
253	*	Trex Co, Inc		4,966
5,020		Tupperware Corp		144,275
5,571	e	West Pharmaceutical Services, Inc		262,673
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		966,060
SECURITY AND COMMODITY BROKERS - 1.77%
291		Calamos Asset Management, Inc (Class A)		7,435
2,925	e	Cohen & Steers, Inc		127,091
1,455	*	Epoch Holding Corp		19,482
971	*	FCStone Group, Inc		55,648
224		GAMCO Investors, Inc (Class A)		12,555
2,670	*e	GFI Group, Inc		193,522
3,210	e	Greenhill & Co, Inc		220,559
2,951	*e	Interactive Brokers Group, Inc (Class A)		80,061
6,525		International Securities Exchange, Inc		426,409
341	*	KBW, Inc		10,019
7,090	*	Knight Capital Group, Inc (Class A)		117,694
16,416	*e	Ladenburg Thalmann Financial Services, Inc		37,757
5,165	*e	MarketAxess Holdings, Inc		92,918
2,106	*e	Morningstar, Inc		99,035
7,239	e	optionsXpress Holdings, Inc		185,753
2,273	*	Penson Worldwide, Inc		55,757
2,499	*e	Stifel Financial Corp		147,166
446		SWS Group, Inc		9,642
1,973		US Global Investors, Inc (Class A)		44,728
206		Value Line, Inc		9,043

229

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
11,824		Waddell & Reed Financial, Inc (Class A)	$	307,542
1,488		WP Stewart & Co Ltd		16,204
		TOTAL SECURITY AND COMMODITY BROKERS		2,276,020
SOCIAL SERVICES - 0.17%
4,415	*	Bright Horizons Family Solutions, Inc		171,788
877	*	Capital Senior Living Corp		8,261
1,488	*e	Providence Service Corp		39,759
		TOTAL SOCIAL SERVICES		219,808
SPECIAL TRADE CONTRACTORS - 0.42%
632	e	Alico, Inc		38,546
3,946		Chemed Corp		261,580
834		Comfort Systems USA, Inc		11,826
3,240	*	Dycom Industries, Inc		97,135
1,138	*	Integrated Electrical Services, Inc		37,520
2,305	*e	Layne Christensen Co		94,390
		TOTAL SPECIAL TRADE CONTRACTORS		540,997
STONE, CLAY, AND GLASS PRODUCTS - 0.32%
4,780		Apogee Enterprises, Inc		132,980
3,421	e	CARBO Ceramics, Inc		149,874
3,167	*e	Cabot Microelectronics Corp		112,397
2,252	*	US Concrete, Inc		19,570
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		414,821
TEXTILE MILL PRODUCTS - 0.03%
1,049	*e	Heelys, Inc		27,127
1,676		Xerium Technologies, Inc		12,771
		TOTAL TEXTILE MILL PRODUCTS		39,898
TOBACCO PRODUCTS - 0.06%
3,225	e	Vector Group Ltd		72,659
		TOTAL TOBACCO PRODUCTS		72,659
TRANSPORTATION BY AIR - 0.46%
1,726	*e	Air Methods Corp		63,292
15,344	*e	Airtran Holdings, Inc		167,556
840	*	Allegiant Travel Co		25,822
2,725	*e	EGL, Inc		126,658
1,009	*e	ExpressJet Holdings, Inc		6,034
4,170	*	JetBlue Airways Corp		48,997
4,101	*	Midwest Air Group, Inc		61,597
1,190	*e	PHI, Inc		35,450
3,258	*e	Pinnacle Airlines Corp		61,088
		TOTAL TRANSPORTATION BY AIR		596,494
TRANSPORTATION EQUIPMENT - 2.07%
5,780	*e	AAR Corp		190,798
1,097	*e	Aerovironment, Inc		22,609
1,635		American Railcar Industries, Inc		63,765
3,608	*	Amerigon, Inc		64,908
4,162		Clarcor, Inc		155,784
3,247	*	Comtech Group, Inc		53,608

230

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
10,809	*e	Fleetwood Enterprises, Inc	$	97,821
11,394	*e	Force Protection, Inc		235,172
133		Freightcar America, Inc		6,363
9,395	*e	GenCorp, Inc		122,793
1,490	*e	GenTek, Inc		52,478
15,915	*e	Hayes Lemmerz International, Inc		85,145
4,249	e	Heico Corp		178,798
1,340		Kaman Corp		41,795
494	*	Miller Industries, Inc		12,399
1,757	e	Noble International Ltd		35,913
8,333	*	Orbital Sciences Corp		175,076
5,072	e	Polaris Industries, Inc		274,700
5,391	e	Spartan Motors, Inc		91,755
1,735	*	Tenneco, Inc		60,794
1,534	*	TransDigm Group, Inc		62,066
655		Triumph Group, Inc		42,883
11,085	*e	Visteon Corp		89,789
8,183		Westinghouse Air Brake Technologies Corp		298,925
4,910	e	Winnebago Industries, Inc		144,943
		TOTAL TRANSPORTATION EQUIPMENT		2,661,080
TRANSPORTATION SERVICES - 0.58%
2,684		Ambassadors Group, Inc		95,362
535		Ambassadors International, Inc		17,794
1,913	*	Dynamex, Inc		48,839
6,541	*	HUB Group, Inc (Class A)		229,982
4,249	*	Lear Corp		151,307
1,956		Pacer International, Inc		46,005
5,231		Ship Finance International Ltd		155,256
		TOTAL TRANSPORTATION SERVICES		744,545
TRUCKING AND WAREHOUSING - 0.31%
3,962	*e	Celadon Group, Inc		62,996
3,928		Forward Air Corp		133,906
3,258		Heartland Express, Inc		53,105
4,673	*	Old Dominion Freight Line		140,891
220	*	Saia, Inc		5,997
458	*	Universal Truckload Services, Inc		9,100
		TOTAL TRUCKING AND WAREHOUSING		405,995
WATER TRANSPORTATION - 0.61%
10,508	*	American Commercial Lines, Inc		273,733
2,120		Arlington Tankers Ltd		60,802
3,387		Double Hull Tankers, Inc		52,803
1,831		Eagle Bulk Shipping, Inc		41,033
162		Genco Shipping & Trading Ltd		6,684
1,221		Golar LNG Ltd		20,342
5,619		Horizon Lines, Inc (Class A)		184,078
2,655		Knightsbridge Tankers Ltd		81,004
6,860	*	Odyssey Marine Exploration, Inc		41,229
825	*	Ultrapetrol Bahamas Ltd		19,553
		TOTAL WATER TRANSPORTATION		781,261

231

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
WHOLESALE TRADE-DURABLE GOODS - 1.43%
1,226	*	1-800 Contacts, Inc	$	28,762
1,308		Applied Industrial Technologies, Inc		38,586
6,962	e	Barnes Group, Inc		220,556
6,766	*e	Beacon Roofing Supply, Inc		114,954
804		Castle (A.M.) & Co		28,872
4,875	*e	Conceptus, Inc		94,429
687	*	Digi International, Inc		10,126
3,070	*	Drew Industries, Inc		101,740
1,517	*	Genesis Microchip, Inc		14,199
1,191	*	Glu Mobile, Inc		16,555
1,040	*e	Hansen Medical, Inc		19,645
2,792	*e	Houston Wire & Cable Co		79,321
1,897	*	Interline Brands, Inc		49,474
2,759	*	Keystone Automotive Industries, Inc		114,140
9,595	e	Knight Transportation, Inc		185,951
7,669	*e	LKQ Corp		189,117
1,371	*	MWI Veterinary Supply, Inc		54,689
1,147		Owens & Minor, Inc		40,076
1,223	e	PEP Boys-Manny Moe & Jack		24,656
11,321	*	PSS World Medical, Inc		206,269
1,830	*	RSC Holdings, Inc		36,600
3,031	*e	Solera Holdings, Inc		58,741
1,673	*	TomoTherapy, Inc		36,672
6,599	*	Tyler Technologies, Inc		81,894
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,846,024
WHOLESALE TRADE-NONDURABLE GOODS - 2.04%
9,396	*e	Akorn, Inc		65,678
15,978	*	Alliance One International, Inc		160,579
9,242	*e	Allscripts Healthcare Solutions, Inc		235,486
4,461	*e	Beijing Med-Pharm Corp		47,599
5,116	*e	Central European Distribution Corp		177,116
910	*e	Green Mountain Coffee Roasters, Inc		71,653
1,445	e	K-Swiss, Inc (Class A)		40,937
2,458	*	LSB Industries, Inc		52,552
303	*e	Maui Land & Pineapple Co, Inc		11,129
9,042		Men's Wearhouse, Inc		461,775
4,589		Myers Industries, Inc		101,463
1,011	e	Nash Finch Co		50,044
5,737		Nu Skin Enterprises, Inc (Class A)		94,660
2,006	*e	Nuco2, Inc		51,494
637	*e	School Specialty, Inc		22,575
1,125	*e	Source Interlink Cos, Inc		5,603
1,286		Spartan Stores, Inc		42,322
545		Stride Rite Corp		11,042
15,521	*e	Terra Industries, Inc		394,544
7,196	*e	United Natural Foods, Inc		191,270
2,926	*	United Stationers, Inc		194,989
1,083		Valhi, Inc		17,653
2,432	*e	Volcom, Inc		121,916
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,624,079
		TOTAL COMMON STOCKS		127,170,743
		(Cost $102,647,935)

232

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
PRINCIPAL		ISSUER		VALUE
SHORT-TERM INVESTMENTS - 29.07%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.11%
$      1,430,000	d	Federal Home Loan Bank (FHLB) 0.000%, 07/02/07	$	1,430,000
				1,430,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 27.96%
36,002,188		State Street Navigator Securities Lending Prime Portfolio		36,002,188
				36,002,188
		TOTAL SHORT-TERM INVESTMENTS		37,432,188
		(Cost $37,431,997)
		TOTAL PORTFOLIO - 127.83%
		(Cost $140,079,932)		164,602,931
		OTHER ASSETS & LIABILITIES, NET - (27.83)%		(35,840,784	)
		NET ASSETS - 100.00%	$	128,762,147
	*	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 in the amount of $1,528,986.
	e	All or a portion of these securities are out on loan.

233

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.41%
AGRICULTURAL PRODUCTION-CROPS - 0.11%
9,191	e	Chiquita Brands International, Inc	$	174,261
		TOTAL AGRICULTURAL PRODUCTION-CROPS		174,261
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.31%
8,547	e	Pilgrim's Pride Corp		326,239
70	e	Seaboard Corp		164,150
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		490,389
AMUSEMENT AND RECREATION SERVICES - 0.66%
1,869		Churchill Downs, Inc		97,898
1,979	*e	Lakes Entertainment, Inc		23,372
6,566	*e	Leapfrog Enterprises, Inc		67,301
12,755	*	Live Nation, Inc		285,457
8,690	*	Magna Entertainment Corp		25,375
3,697	*e	Marvel Entertainment, Inc		94,200
5,353	*e	Multimedia Games, Inc		68,304
5,802	*	Pinnacle Entertainment, Inc		163,326
14,844	*e	Six Flags, Inc		90,400
3,057		Speedway Motorsports, Inc		122,219
351	*	Town Sports International Holdings, Inc		6,781
1,788	*	Westwood One, Inc		12,856
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,057,489
APPAREL AND ACCESSORY STORES - 1.00%
5,009		Brown Shoe Co, Inc		121,819
270	*e	Cache, Inc		3,583
4,669		Cato Corp (Class A)		102,438
26,105	*	Charming Shoppes, Inc		282,717
2,262	*	Dress Barn, Inc		46,416
6,434	*	Eddie Bauer Holdings, Inc		82,677
9,457		Finish Line, Inc (Class A)		86,153
4,611	*	HOT Topic, Inc		50,122
4,800	*e	Jo-Ann Stores, Inc		136,464
2,738	*	Pacific Sunwear Of California, Inc		60,236
7,702	*	Payless Shoesource, Inc		242,998
1,508	*	Shoe Carnival, Inc		41,455
9,310	e	Stage Stores, Inc		195,138
1,618	*e	Syms Corp		31,923
4,677	e	Talbots, Inc		117,065
		TOTAL APPAREL AND ACCESSORY STORES		1,601,204
APPAREL AND OTHER TEXTILE PRODUCTS - 0.50%
2,309	e	Columbia Sportswear Co		158,582
5,381	e	Kellwood Co		151,314
1,881	*	Maidenform Brands, Inc		37,356

234

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
18,306	*e	Quiksilver, Inc	$	258,664
4,818	*	Warnaco Group, Inc		189,540
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		795,456
AUTO REPAIR, SERVICES AND PARKING - 0.34%
2,223	*e	Amerco, Inc		167,836
5,053	*	Dollar Thrifty Automotive Group, Inc		206,364
12,751	*	Exide Technologies		118,584
308		Monro Muffler, Inc		11,535
413	*	Standard Parking Corp		14,509
778	*	Wright Express Corp		26,662
		TOTAL AUTO REPAIR, SERVICES AND PARKING		545,490
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.46%
5,321		Asbury Automotive Group, Inc		132,759
8,654	*e	CSK Auto Corp		159,234
3,147	e	Lithia Motors, Inc (Class A)		79,745
3,211	*e	MarineMax, Inc		64,284
4,743	*	Rush Enterprises, Inc (Class A)		103,018
6,637	e	Sonic Automotive, Inc (Class A)		192,274
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		731,314
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.14%
2,963	*	Builders FirstSource, Inc		47,586
14,622	*e	Central Garden and Pet Co (Class A)		171,516
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		219,102
BUSINESS SERVICES - 6.69%
82,578	*	3Com Corp		341,047
3,748		Aaron Rents, Inc		109,441
8,540		ABM Industries, Inc		220,417
11,830	*	Agile Software Corp		95,350
16,330	*e	Ariba, Inc		161,830
3,536		Asset Acceptance Capital Corp		62,587
10,618	*	Avocent Corp		308,028
495	e	Barrett Business Services		12,786
42,438	*	BearingPoint, Inc		310,222
25,509	*	BISYS Group, Inc		301,771
1,666	e	Blackbaud, Inc		36,785
15,703	*e	Borland Software Corp		93,276
4,133	*	Bottomline Technologies, Inc		51,042
10,570		Brady Corp (Class A)		392,570
5,955	*	CACI International, Inc (Class A)		290,902
1,290		Catalina Marketing Corp		40,635
468	*	Cavium Networks, Inc		10,586
6,342	*e	CBIZ, Inc		46,614
10,946	*	Ciber, Inc		89,538
2,114	*	Clayton Holdings, Inc		24,078
99,328	*	CMGI, Inc		193,690
1,882		Cognex Corp		42,364
556		Computer Programs & Systems, Inc		17,225
2,703	*e	Covansys Corp		91,713
5,404	*	CSG Systems International, Inc		143,260
10,964		Deluxe Corp		445,248

235

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,541	*	DynCorp International, Inc (Class A)	$	99,856
26,834	*	Earthlink, Inc		200,450
1,494	*e	eFunds Corp		52,723
4,180	e	Electro Rent Corp		60,777
3,837	*e	eSpeed, Inc (Class A)		33,152
11,395	*e	Evergreen Energy, Inc		68,712
944	*e	ExlService Holdings, Inc		17,690
550	*e	First Advantage Corp (Class A)		12,656
276	*	Forrester Research, Inc		7,764
3,965	e	FTD Group, Inc		72,996
4,875	*	Gerber Scientific, Inc		56,648
3,130	e	Gevity HR, Inc		60,503
696	*e	Global Cash Access, Inc		11,150
274	*	Heidrick & Struggles International, Inc		14,040
4,774	*	Hypercom Corp		28,214
3,263	*	i2 Technologies, Inc		60,822
688	*	ICT Group, Inc		12,872
3,051		Infospace, Inc		70,814
4,454		infoUSA, Inc		45,520
633	e	Integral Systems, Inc		15,388
4,990		Interactive Data Corp		133,632
7,976	*e	Internet Capital Group, Inc		98,902
2,604	e	Interpool, Inc		70,048
1,961	*	Interwoven, Inc		27,532
5,433	*e	Ipass, Inc		29,447
3,836	*	JDA Software Group, Inc		75,301
3,708		Kelly Services, Inc (Class A)		101,822
3,274	*	Keynote Systems, Inc		53,694
1,423	*	Kforce, Inc		22,740
1,835	*e	Korn/Ferry International		48,187
27,349	*e	Lawson Software, Inc		270,482
1,896	*	Lionbridge Technologies		11,167
1,098	*	Manhattan Associates, Inc		30,645
3,371	*	Mantech International Corp (Class A)		103,928
1,296		Marchex, Inc (Class B)		21,151
7,123	*e	Mentor Graphics Corp		93,810
275	*	MicroStrategy, Inc (Class A)		25,985
19,413	*	MPS Group, Inc		259,552
9,225	*	MSC.Software Corp		124,907
4,574	*	Ness Technologies, Inc		59,508
5,836	*	On Assignment, Inc		62,562
7,417	*e	OpenTV Corp (Class A)		15,724
1,251	*	Packeteer, Inc		9,770
13,097	*	Parametric Technology Corp		283,026
2,315	*	PDF Solutions, Inc		27,386
2,914	e	Pegasystems, Inc		31,850
2,421	*e	PeopleSupport, Inc		27,478
18,579	*	Perot Systems Corp (Class A)		316,586
1,366	*e	PRA International		34,560
13,335	*	Premiere Global Services, Inc		173,622
910	e	QAD, Inc		7,553
1,859	*	Quest Software, Inc		30,097
3,198	*e	Radisys Corp		39,655
21,590	*	RealNetworks, Inc		176,390

236

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
14,927	*	Rent-A-Center, Inc	$	391,535
11,761	*	S1 Corp		93,970
9,319	*e	Secure Computing Corp		70,731
2,758	*e	SI International, Inc		91,069
1,273	*	Silicon Graphics, Inc		33,785
10,550	*	SonicWALL, Inc		90,625
5,436	*	Spherion Corp		51,044
3,672	*	SRA International, Inc (Class A)		92,755
17,333	*	Sybase, Inc		414,085
3,406	*e	SYNNEX Corp		70,198
1,881	*	Take-Two Interactive Software, Inc		37,564
3,149	e	TAL International Group, Inc		93,557
43,881	*	TIBCO Software, Inc		397,123
5,082	e	TNS, Inc		73,232
10,404		United Online, Inc		171,562
5,930	*e	Universal Compression Holdings, Inc		429,747
4,516		Viad Corp		190,440
2,875	*	Vignette Corp		55,085
2,952	*e	Volt Information Sciences, Inc		54,435
		TOTAL BUSINESS SERVICES		10,736,993
CHEMICALS AND ALLIED PRODUCTS - 4.34%
3,521	*	Albany Molecular Research, Inc		52,287
9,104	*e	Alpharma, Inc (Class A)		236,795
988	*	Animal Health International, Inc		14,316
5,052		Arch Chemicals, Inc		177,527
12,787	*e	Arena Pharmaceuticals, Inc		140,529
2,439	*e	Aventine Renewable Energy Holdings, Inc		41,390
2,083	*	Bentley Pharmaceuticals, Inc		25,288
1,984	*e	Bradley Pharmaceuticals, Inc		43,073
8,990	*e	Calgon Carbon Corp		104,284
5,803		Cambrex Corp		77,006
10,557		CF Industries Holdings, Inc		632,259
412	*	Chattem, Inc		26,112
1,880	*	Cytokinetics, Inc		10,622
5,227	*e	Elizabeth Arden, Inc		126,807
1,184	*	Emergent Biosolutions, Inc		12,195
1,145	*e	Enzon Pharmaceuticals, Inc		8,988
8,926		Ferro Corp		222,525
7,242	e	Georgia Gulf Corp		131,153
12,902		H.B. Fuller Co		385,641
12,842	*	Hercules, Inc		252,345
1,718	*e	Indevus Pharmaceuticals, Inc		11,562
2,215	e	Innophos Holdings, Inc		31,674
2,562		Innospec, Inc		151,696
176		Inter Parfums, Inc		4,685
773	*	InterMune, Inc		20,052
7,142	*e	Inverness Medical Innovations, Inc		364,385
1,733		Koppers Holdings, Inc		58,367
8,781	*	MannKind Corp		108,270
6,773	*e	Martek Biosciences Corp		175,895
4,079	e	Minerals Technologies, Inc		273,089
2,786	*e	Momenta Pharmaceuticals, Inc		28,083
7,694	*e	Nabi Biopharmaceuticals		35,392

237

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,762	*e	Neurocrine Biosciences, Inc	$	42,247
2,529		NewMarket Corp		122,328
1,383	e	NL Industries, Inc		13,858
15,462		Olin Corp		324,702
6,316	*	OM Group, Inc		334,243
2,643	*	Pacific Ethanol, Inc		34,888
849	*	Par Pharmaceutical Cos, Inc		23,967
7,841		Perrigo Co		153,527
2,492	*e	Pioneer Cos, Inc		85,650
19,364	*	PolyOne Corp		139,227
6,795	*	Prestige Brands Holdings, Inc		88,199
45,638	*e	Revlon, Inc (Class A)		62,524
7,474	*	Rockwood Holdings, Inc		273,175
1,088	*	Salix Pharmaceuticals Ltd		13,382
894	*e	Sciele Pharma, Inc		21,063
10,164		Sensient Technologies Corp		258,064
1,240		Stepan Co		37,547
8,759		Tronox, Inc (Class B)		123,064
4,470	e	UAP Holding Corp		134,726
863	*	US BioEnergy Corp		9,804
18,558	*	USEC, Inc		407,905
1,024	*e	Verasun Energy Corp		14,827
1,769	*	Viropharma, Inc		24,412
9,125	*e	WR Grace & Co		223,471
3,800	*	XOMA Ltd		11,552
		TOTAL CHEMICALS AND ALLIED PRODUCTS		6,962,644
COAL MINING - 0.05%
12,375	*e	International Coal Group, Inc		74,002
		TOTAL COAL MINING		74,002
COMMUNICATIONS - 2.73%
8,937	e	Alaska Communications Systems Group, Inc		141,562
1,123	*e	Anixter International, Inc		84,461
660	*	Aruba Networks, Inc		13,266
1,960		Atlantic Tele-Network, Inc		56,134
4,028	*	Audiovox Corp (Class A)		52,243
610	*	Authorize.Net Holdings, Inc		10,913
1,102	*	Brightpoint, Inc		15,197
86,051	*e	Charter Communications, Inc (Class A)		348,507
53,325	*	Cincinnati Bell, Inc		308,219
24,531	e	Citadel Broadcasting Corp		158,225
1,915	e	Consolidated Communications Holdings, Inc		43,279
7,139	*e	Cox Radio, Inc (Class A)		101,659
1,637	*e	Crown Media Holdings, Inc (Class A)		11,786
4,231		CT Communications, Inc		129,088
3,391	*e	Cumulus Media, Inc (Class A)		31,706
2,776	*	DG FastChannel,Inc		56,575
6,486	e	Emmis Communications Corp (Class A)		59,736
7,078	e	Entercom Communications Corp (Class A)		176,171
7,766	*	Entravision Communications Corp (Class A)		80,999
6,406	e	Fairpoint Communications, Inc		113,707
21,744	*e	FiberTower Corp		94,152
1,372	*e	Fisher Communications, Inc		69,684

238

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,089	*	Foundry Networks, Inc	$	68,123
9,765	*	General Communication, Inc (Class A)		125,090
1,054	*	GeoEye, Inc		22,903
2,921	*e	Global Crossing Ltd		55,148
1,939		Golden Telecom, Inc		106,664
9,358		Gray Television, Inc		86,749
437	*	Hungarian Telephone & Cable		8,744
12,374	*e	ICO Global Communications Holdings Ltd		43,062
9,874	e	IDT Corp (Class B)		101,900
4,252	*	InPhonic, Inc		19,814
6,883	e	Iowa Telecommunications Services, Inc		156,451
891		iPCS, Inc		30,178
2,629	*e	Knology, Inc		45,666
5,506	*e	Lin TV Corp (Class A)		103,568
1,373	*	Lodgenet Entertainment Corp		44,018
1,629	*e	Mastec, Inc		25,771
11,249	*e	Mediacom Communications Corp (Class A)		109,003
1,582	*	Nexstar Broadcasting Group, Inc (Class A)		20,787
5,663	*e	Nextwave Wireless, Inc		47,286
367		North Pittsburgh Systems, Inc		7,799
8,100	*e	PAETEC Holding Corp		91,449
509		Preformed Line Products Co		24,437
15,964	*	Radio One, Inc (Class D)		112,706
6,108		RCN Corp		114,769
1,471	*	Rural Cellular Corp (Class A)		64,445
2,112		Salem Communications Corp (Class A)		23,422
1,757	*	SAVVIS, Inc		86,989
1,493	e	Shenandoah Telecom Co		75,889
5,330	e	Sinclair Broadcast Group, Inc (Class A)		75,793
4,444	*e	Spanish Broadcasting System, Inc (Class A)		19,109
3,049	e	SureWest Communications		83,055
5,738	*	Syniverse Holdings, Inc		73,791
4,930		USA Mobility, Inc		131,927
7,197	*e	Vonage Holdings Corp		22,383
		TOTAL COMMUNICATIONS		4,386,157
DEPOSITORY INSTITUTIONS - 13.41%
2,640		1st Source Corp		65,789
2,013		Abington Bancorp, Inc		19,224
3,609	e	Alabama National Bancorp		223,181
4,674		Amcore Financial, Inc		135,499
3,595	e	AmericanWest Bancorp		65,537
2,770	e	Ameris Bancorp		62,242
4,080	e	Anchor Bancorp Wisconsin, Inc		106,855
1,512		Bancfirst Corp		64,744
5,670		Banco Latinoamericano de Exportaciones S.A.		106,596
2,166	*e	Bancorp, Inc		48,432
11,917		Bank Mutual Corp		137,403
389		Bank of the Ozarks, Inc		10,841
9,754	e	BankAtlantic Bancorp, Inc (Class A)		83,982
4,913	e	BankFinancial Corp		75,906
6,576	e	BankUnited Financial Corp (Class A)		131,980
2,533		Banner Corp		86,274
1,920	e	Berkshire Hills Bancorp, Inc		60,499

239

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,732	e	Boston Private Financial Holdings, Inc	$	207,759
12,962	e	Brookline Bancorp, Inc		149,193
2,836	e	Capital City Bank Group, Inc		88,880
1,991	e	Capital Corp of the West		47,704
2,972	e	Capitol Bancorp Ltd		81,225
4,187	e	Cascade Bancorp		96,887
10,630	e	Cathay General Bancorp		356,530
12,316	*e	Centennial Bank Holdings, Inc		104,317
2,096	e	Center Financial Corp		35,464
6,686	e	Central Pacific Financial Corp		220,705
5,308	e	Chemical Financial Corp		137,318
9,913		Chittenden Corp		346,459
16,199	e	Citizens Banking Corp		296,442
2,449	e	City Bank		77,168
3,780		City Holding Co		144,887
2,723	e	Clifton Savings Bancorp, Inc		29,517
1,815		CoBiz, Inc		32,888
3,573		Columbia Banking System, Inc		104,510
2,201	*e	Community Bancorp		61,584
6,371	e	Community Bank System, Inc		127,547
5,226	e	Community Banks, Inc		168,382
3,393	e	Community Trust Bancorp, Inc		109,594
8,205	e	Corus Bankshares, Inc		141,618
13,765	e	CVB Financial Corp		153,067
5,480		Dime Community Bancshares		72,281
4,476	e	Downey Financial Corp		295,326
568	e	Enterprise Financial Services Corp		14,120
2,512	e	First Bancorp		47,050
17,438		First Bancorp		191,644
2,757	e	First Busey Corp		55,112
7,336	e	First Charter Corp		142,832
15,189	e	First Commonwealth Financial Corp		165,864
5,344		First Community Bancorp, Inc		305,730
2,252	e	First Community Bancshares, Inc		70,240
7,360	e	First Financial Bancorp		110,326
4,279	e	First Financial Bankshares, Inc		166,068
2,670	e	First Financial Corp		78,391
2,671	e	First Financial Holdings, Inc		87,368
2,663		First Indiana Corp		58,906
4,085	e	First Merchants Corp		98,163
10,644	e	First Midwest Bancorp, Inc		377,968
22,911		First Niagara Financial Group, Inc		300,134
3,930		First Place Financial Corp		83,002
1,746	*	First Regional Bancorp		44,418
4,868		First Republic Bank		261,217
4,240		First State Bancorporation		90,270
3,517	*e	FirstFed Financial Corp		199,519
17,210		FirstMerit Corp		360,205
9,104	e	Flagstar Bancorp, Inc		109,703
4,218		Flushing Financial Corp		67,741
13,006	e	FNB Corp		217,720
4,961	*e	Franklin Bank Corp		73,919
14,262	e	Fremont General Corp		153,459
7,609	e	Frontier Financial Corp		171,431

240

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
10,957	e	Glacier Bancorp, Inc	$	222,975
2,322	e	Great Southern Bancorp, Inc		62,810
11,046		Greater Bay Bancorp		307,521
1,901	e	Greene County Bancshares, Inc		59,425
5,548		Hancock Holding Co		208,327
8,625	e	Hanmi Financial Corp		147,143
6,343		Harleysville National Corp		102,249
2,874	e	Heartland Financial USA, Inc		69,838
2,401		Heritage Commerce Corp		56,856
2,210	e	Home Bancshares, Inc		49,836
2,746	e	Horizon Financial Corp		59,835
2,558	e	IBERIABANK Corp		126,493
3,137		Independent Bank Corp		92,667
5,035	e	Independent Bank Corp		86,652
4,273		Integra Bank Corp		91,741
10,559	e	International Bancshares Corp		270,522
10,588	*	Investors Bancorp, Inc		142,197
4,051		Irwin Financial Corp		60,643
1,210		ITLA Capital Corp		63,065
4,634	e	Kearny Financial Corp		62,466
6,084		KNBT Bancorp, Inc		89,435
4,221	e	Lakeland Bancorp, Inc		56,139
2,498	e	Lakeland Financial Corp		53,132
3,145	e	Macatawa Bank Corp		50,037
6,987		MAF Bancorp, Inc		379,115
4,063	e	MainSource Financial Group, Inc		68,218
7,542	e	MB Financial, Inc		262,009
4,054	e	Midwest Banc Holdings, Inc		58,783
4,670	e	Nara Bancorp, Inc		74,393
945	e	NASB Financial, Inc		31,799
10,319	e	National Penn Bancshares, Inc		172,121
7,367	e	NBT Bancorp, Inc		166,200
12,627	e	NewAlliance Bancshares, Inc		185,869
3,946	e	Northwest Bancorp, Inc		103,148
14,301	e	Old National Bancorp		237,540
2,600	e	Old Second Bancorp, Inc		75,816
2,563	e	Omega Financial Corp		68,919
4,683		Oriental Financial Group, Inc		51,092
1,080	*e	Oritani Financial Corp		15,433
9,806		Pacific Capital Bancorp		264,566
2,603	e	Park National Corp		220,708
9,768		Partners Trust Financial Group, Inc		102,564
2,363		Peoples Bancorp, Inc		63,966
4,977		PFF Bancorp, Inc		139,008
1,433	*e	Pinnacle Financial Partners, Inc		42,073
1,619		Preferred Bank		64,760
126	e	Premierwest Bancorp		1,704
1,412		PrivateBancorp, Inc		40,666
7,492	e	Prosperity Bancshares, Inc		245,438
6,942	e	Provident Bankshares Corp		227,559
14,106	e	Provident Financial Services, Inc		222,311
9,310	e	Provident New York Bancorp		125,778
527	e	QC Holdings, Inc		7,905
3,720	e	Renasant Corp		84,593

241

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,676	e	Republic Bancorp, Inc (Class A)	$	27,805
1,700	e	Rockville Financial, Inc		25,670
2,140	e	Roma Financial Corp		35,460
1,235	e	Royal Bancshares of Pennsylvania (Class A)		24,342
5,417	e	S&T Bancorp, Inc		178,219
2,512	e	S.Y. Bancorp, Inc		59,685
3,134	e	Sandy Spring Bancorp, Inc		98,533
660		Santander BanCorp		9,808
2,080		SCBT Financial Corp		75,712
3,069	e	Seacoast Banking Corp of Florida		66,751
3,309	e	Security Bank Corp		66,511
271	*	Signature Bank		9,241
2,860	e	Simmons First National Corp (Class A)		78,907
15,399		South Financial Group, Inc		348,633
2,283	e	Southside Bancshares, Inc		49,587
2,946		Southwest Bancorp, Inc		70,822
3,960	e	Sterling Bancorp		63,479
15,772		Sterling Bancshares, Inc		178,381
5,484	*e	Sterling Financial Corp		57,692
10,756		Sterling Financial Corp		311,279
322		Suffolk Bancorp		10,278
3,511	*	Sun Bancorp, Inc		59,231
3,529	*e	Superior Bancorp		36,102
11,201	e	Susquehanna Bancshares, Inc		250,566
5,811	*	SVB Financial Group		308,622
1,147		Taylor Capital Group, Inc		31,577
4,317	*	Texas Capital Bancshares, Inc		96,485
3,782		TierOne Corp		113,838
1,351	e	Tompkins Trustco, Inc		50,527
2,888		Trico Bancshares		64,576
10,542		Trustmark Corp		272,616
20,874	e	UCBH Holdings, Inc		381,368
6,645		UMB Financial Corp		245,001
12,714	e	Umpqua Holdings Corp		298,906
2,735	e	Union Bankshares Corp		63,452
7,779	e	United Bankshares, Inc		247,372
7,590	e	United Community Banks, Inc		196,505
5,810	e	United Community Financial Corp		57,984
2,486	e	Univest Corp of Pennsylvania		55,985
2,267	e	USB Holding Co, Inc		43,209
2,190		ViewPoint Financial Group		37,690
467	*	Virginia Commerce Bancorp		7,897
23,503	e	W Holding Co, Inc		62,048
2,495	e	Washington Trust Bancorp, Inc		62,899
2,017	*e	Wauwatosa Holdings, Inc		33,361
4,668	e	WesBanco, Inc		137,706
3,221	e	West Coast Bancorp		97,886
4,500	e	Westamerica Bancorporation		199,080
1,473	*e	Western Alliance Bancorp		43,969
1,735		Westfield Financial, Inc		17,298
3,163	e	Wilshire Bancorp, Inc		38,525
5,006	e	Wintrust Financial Corp		219,513
1,366		WSFS Financial Corp		89,377

242

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,009		Yardville National Bancorp	$	68,607
		TOTAL DEPOSITORY INSTITUTIONS		21,507,387
EATING AND DRINKING PLACES - 0.97%
2,612	*	AFC Enterprises		45,161
1,983		Applebees International, Inc		47,790
7,641	e	Bob Evans Farms, Inc		281,571
2,122		CBRL Group, Inc		90,143
3,213	*	CEC Entertainment, Inc		113,098
9,134		Domino's Pizza, Inc		166,878
2,140	e	IHOP Corp		116,480
3,034	*	Jack in the Box, Inc		215,232
3,581	e	Landry's Restaurants, Inc		108,361
313	*	McCormick & Schmick's Seafood Restaurants, Inc		8,119
1,720	*	Morton's Restaurant Group, Inc		31,149
5,067		O'Charleys, Inc		102,151
1,706	*e	Papa John's International, Inc		49,065
1,083	*	Rare Hospitality International, Inc		28,992
2,128	e	Ruby Tuesday, Inc		56,030
6,176	*e	Steak N Shake Co		103,077
		TOTAL EATING AND DRINKING PLACES		1,563,297
ELECTRIC, GAS, AND SANITARY SERVICES - 5.06%
5,510		Allete, Inc		259,246
3,694	e	American States Water Co		131,396
79,335	*	Aquila, Inc		324,480
11,402		Avista Corp		245,713
8,122	e	Black Hills Corp		322,850
4,050	e	California Water Service Group		151,835
2,420		Cascade Natural Gas Corp		63,912
4,802	*	Casella Waste Systems, Inc (Class A)		51,766
2,057		Central Vermont Public Service Corp		77,508
3,324	e	CH Energy Group, Inc		149,480
12,401		Cleco Corp		303,825
9,764	*	El Paso Electric Co		239,804
6,357		Empire District Electric Co		142,206
1,139		EnergySouth, Inc		58,089
9,384	e	Idacorp, Inc		300,663
4,536		Laclede Group, Inc		144,608
5,016		Metal Management, Inc		221,055
4,369	e	MGE Energy, Inc		142,735
5,923	e	New Jersey Resources Corp		302,191
9,525	e	Nicor, Inc		408,813
5,711	e	Northwest Natural Gas Co		263,791
7,786	e	NorthWestern Corp		247,673
6,464	e	Otter Tail Corp		207,300
3,153	*e	Pico Holdings, Inc		136,399
15,776		Piedmont Natural Gas Co, Inc		388,878
839	*e	Pike Electric Corp		18,777
16,226		PNM Resources, Inc		450,921
6,078	e	Portland General Electric Co		166,780
2,897		Resource America, Inc (Class A)		59,707
7,234	*e	SEMCO Energy, Inc		56,208
3,209	e	SJW Corp		106,860
6,397	e	South Jersey Industries, Inc		226,326

243

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,788		Southwest Gas Corp	$	297,122
5,040	e	Southwest Water Co		64,361
5,120		UIL Holdings Corp		169,472
7,489		Unisource Energy Corp		246,313
4,221	*	Waste Connections, Inc		127,643
4,287	*e	Waste Services, Inc		52,087
18,771		Westar Energy, Inc		455,760
10,399	e	WGL Holdings, Inc		339,423
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		8,123,976
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.45%
5,744	*	Actel Corp		79,899
2,567		Acuity Brands, Inc		154,739
25,310	*	Adaptec, Inc		96,431
5,916		Adtran, Inc		153,639
15,747	*	Aeroflex, Inc		223,135
33,015	*	Andrew Corp		476,737
37,443	*	Applied Micro Circuits Corp		93,608
1,679	*	Arris Group, Inc		29,534
1,053	*	ATMI, Inc		31,590
2,488		Bel Fuse, Inc (Class B)		84,667
12,489	*	Benchmark Electronics, Inc		282,501
1,654	*	Ceradyne, Inc		122,330
8,304	*	Checkpoint Systems, Inc		209,676
76,118	*e	Conexant Systems, Inc		105,043
7,544	e	CTS Corp		95,507
1,260		Cubic Corp		38,027
4,544	*	Ditech Networks, Inc		37,215
5,376	*	DSP Group, Inc		110,047
6,000	*	Electro Scientific Industries, Inc		124,800
1,593	*	EMS Technologies, Inc		35,142
4,649	*	EnerSys		85,077
3,941	*	Exar Corp		52,809
3,953	*	Gemstar-TV Guide International, Inc		19,449
20,961	*	GrafTech International Ltd		352,983
650	*	Greatbatch, Inc		21,060
6,348	*	Helen of Troy Ltd		171,396
5,645	*e	Hutchinson Technology, Inc		106,182
7,483		Imation Corp		275,823
3,827		Inter-Tel, Inc		91,580
1,570	*	IXYS Corp		13,110
18,106	*	Kemet Corp		127,647
2,572	*	Lamson & Sessions Co		68,338
24,586	*	Lattice Semiconductor Corp		140,632
3,215	*	Littelfuse, Inc		108,571
2,432	*	Loral Space & Communications, Inc		119,849
4,049		LSI Industries, Inc		72,477
1,800	*	Mattson Technology, Inc		17,460
4,670	*	Mercury Computer Systems, Inc		56,974
7,846		Methode Electronics, Inc		122,790
6,063	*	Moog, Inc (Class A)		267,439
26,676	*e	MRV Communications, Inc		86,697
971	*	Multi-Fineline Electronix, Inc		16,662
997		National Presto Industries, Inc		62,153

244

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,501	*e	Omnivision Technologies, Inc	$	153,953
17,471		Openwave Systems, Inc		109,368
2,823	*	Oplink Communications, Inc		42,345
1,710	*e	Optium Corp		21,632
1,827	*e	OSI Systems, Inc		49,968
4,212		Park Electrochemical Corp		118,694
3,774	*	Pericom Semiconductor Corp		42,118
8,632	*	Photronics, Inc		128,444
10,106		Plantronics, Inc		264,979
3,859	*	Plexus Corp		88,718
3,149	*e	PMC - Sierra, Inc		24,342
647	*	Powell Industries, Inc		20,549
14,832	*e	Power-One, Inc		59,031
27,505	*e	Powerwave Technologies, Inc		184,284
6,700	e	Regal-Beloit Corp		311,818
21,656	*e	RF Micro Devices, Inc		135,133
3,725	*	Rogers Corp		137,825
3,611	*	Seachange International, Inc		28,021
2,844	*	Semtech Corp		49,287
1,703	*	Silicon Image, Inc		14,612
19,145	*	Silicon Storage Technology, Inc		71,411
29,141	*e	Skyworks Solutions, Inc		214,186
18,919	*	Spansion, Inc (Class A)		210,001
7,814	*e	Spectrum Brands, Inc		52,901
3,245	*	Standard Microsystems Corp		111,433
2,973	*	Stoneridge, Inc		36,687
24,675	*	Sycamore Networks, Inc		99,194
5,137	*e	Symmetricom, Inc		43,151
5,478		Technitrol, Inc		157,054
12,820	*	Tekelec		184,864
29,762	*e	Triquint Semiconductor, Inc		150,596
7,847	*	TTM Technologies, Inc		102,011
3,528	*	Ultra Clean Holdings		49,321
1,884	*	Universal Display Corp		29,598
12,380	*e	Utstarcom, Inc		69,452
7,041	*	Zoran Corp		141,102
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		8,749,508
ENGINEERING AND MANAGEMENT SERVICES - 1.49%
1,869	*	Aecom Technology Corp		46,370
16,884	*	Applera Corp (Celera Genomics Group)		209,362
6,382	*e	Ariad Pharmaceuticals, Inc		35,037
2,305	e	CDI Corp		74,221
2,315	*e	Cornell Cos, Inc		56,856
254	*e	CRA International, Inc		12,243
966	*	Exponent, Inc		21,609
5,395	*	Harris Interactive, Inc		28,863
7,500	*e	Incyte Corp		45,000
8,378	*	Isis Pharmaceuticals, Inc		81,099
790	e	Landauer, Inc		38,908
2,956	*	LECG Corp		44,665
4,271		MAXIMUS, Inc		185,276
5,630	*	Maxygen, Inc		48,249
1,468	*e	MTC Technologies, Inc		36,054

245

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,661	*e	Navigant Consulting, Inc	$	67,948
2,075	*	PharmaNet Development Group, Inc		66,151
1,007	*	Rigel Pharmaceuticals, Inc		8,972
20,787	*e	SAIC, Inc		375,621
3,194	*	Symyx Technologies, Inc		36,763
4,868	*	Tetra Tech, Inc		104,905
5,232	*	Washington Group International, Inc		418,612
6,892		Watson Wyatt & Co Holdings (Class A)		347,908
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		2,390,692
ENVIRONMENTAL QUALITY AND HOUSING - 0.02%
6,431	*	Home Solutions of America, Inc		38,457
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		38,457
FABRICATED METAL PRODUCTS - 1.53%
1,796	e	Ameron International Corp		161,981
13,522		Aptargroup, Inc		480,842
1,041	*	Chart Industries, Inc		29,606
3,510		CIRCOR International, Inc		141,909
4,734	*	Commercial Vehicle Group, Inc		88,194
458		Compx International, Inc		8,473
6,290	*e	Griffon Corp		136,996
292		Gulf Island Fabrication, Inc		10,132
2,048		Insteel Industries, Inc		36,864
1,863	*e	Ladish Co, Inc		80,109
1,778	e	Lifetime Brands, Inc		36,360
1,474	*e	Mobile Mini, Inc		43,041
24,161	e	Mueller Water Products, Inc (Class A)		412,187
3,616	*	NCI Building Systems, Inc		178,377
1,665	*	Park-Ohio Holdings Corp		45,455
1,516	*e	PGT, Inc		16,570
2,354		Silgan Holdings, Inc		130,129
4,028	e	Simpson Manufacturing Co, Inc		135,905
2,774	*	Trimas Corp		33,510
6,576	e	Watts Water Technologies, Inc (Class A)		246,403
		TOTAL FABRICATED METAL PRODUCTS		2,453,043
FOOD AND KINDRED PRODUCTS - 0.96%
290	*	Boston Beer Co, Inc (Class A)		11,412
1,577	e	Farmer Bros Co		35,688
6,087		Flowers Foods, Inc		203,062
2,511	e	Imperial Sugar Co		77,314
1,013		J&J Snack Foods Corp		38,231
461		Lancaster Colony Corp		19,311
4,597		Lance, Inc		108,305
1,902		MGP Ingredients, Inc		32,144
7,579	*	Performance Food Group Co		246,242
4,264	*e	Ralcorp Holdings, Inc		227,911
2,372	e	Reddy Ice Holdings, Inc		67,649
1,420		Sanderson Farms, Inc		63,928
5,586	e	Tootsie Roll Industries, Inc		154,788
7,577		Topps Co, Inc		79,634
6,850	*	TreeHouse Foods, Inc		182,279
		TOTAL FOOD AND KINDRED PRODUCTS		1,547,898

246

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
FOOD STORES - 0.53%
3,334	*e	Great Atlantic & Pacific Tea Co, Inc	$	111,822
425		Ingles Markets, Inc (Class A)		14,641
2,863	*e	Pantry, Inc		131,984
8,732		Ruddick Corp		263,008
699	e	Village Super Market (Class A)		33,419
2,441	e	Weis Markets, Inc		98,885
6,804	*	Winn-Dixie Stores, Inc		199,357
		TOTAL FOOD STORES		853,116
FURNITURE AND FIXTURES - 0.47%
2,424	e	Cal-Maine Foods, Inc		39,705
5,154	e	Ethan Allen Interiors, Inc		176,525
10,112	e	Furniture Brands International, Inc		143,590
2,395	e	Hooker Furniture Corp		53,744
2,831	e	Kimball International, Inc (Class B)		39,662
10,787	e	La-Z-Boy, Inc		123,619
2,540	e	Sealy Corp		41,961
5,594	*e	Williams Scotsman International, Inc		133,193
		TOTAL FURNITURE AND FIXTURES		751,999
FURNITURE AND HOME FURNISHINGS STORES - 0.19%
338	*	Guitar Center, Inc		20,216
4,365	e	Haverty Furniture Cos, Inc		50,940
19,056	e	Pier 1 Imports, Inc		161,785
6,227	e	Tuesday Morning Corp		76,966
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		309,907
GENERAL BUILDING CONTRACTORS - 0.73%
90	e	Amrep Corp		4,280
1,257	*e	Avatar Holdings, Inc		96,714
8,228	e	Beazer Homes USA, Inc		202,985
2,355	e	Brookfield Homes Corp		68,507
7,914	*e	Hovnanian Enterprises, Inc (Class A)		130,818
2,532	e	M/I Homes, Inc		67,351
5,526	*e	Meritage Homes Corp		147,821
2,045	*e	Palm Harbor Homes, Inc		28,937
1,288	*	Perini Corp		79,251
13,601	e	Standard-Pacific Corp		238,426
6,594	*e	WCI Communities, Inc		109,988
		TOTAL GENERAL BUILDING CONTRACTORS		1,175,078
GENERAL MERCHANDISE STORES - 0.50%
4,495	*	99 Cents Only Stores		58,929
1,532	e	Bon-Ton Stores, Inc		61,372
7,033	*e	Cabela's, Inc		155,640
10,513		Casey's General Stores, Inc		286,584
2,390	*e	Conn's, Inc		68,258
8,293		Fred's, Inc		110,960
4,908	e	Stein Mart, Inc		60,172
		TOTAL GENERAL MERCHANDISE STORES		801,915

247

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
HEALTH SERVICES - 1.38%
2,115	*e	Alliance Imaging, Inc	$	19,860
293	*	Amedisys, Inc		10,645
6,399	*	Amsurg Corp		154,472
5,504	*e	Apria Healthcare Group, Inc		158,350
8,996	*e	Assisted Living Concepts, Inc (A Shares)		95,807
6,203	*	Cross Country Healthcare, Inc		103,466
469	*e	Emeritus Corp		14,530
3,917	*	Genesis HealthCare Corp		268,001
3,965	*	Gentiva Health Services, Inc		79,538
17,000	*	Healthsouth Corp		307,870
1,682	*	Immunomedics, Inc		6,980
6,298	*	Kindred Healthcare, Inc		193,475
7,004	*	Magellan Health Services, Inc		325,476
848	*e	Matria Healthcare, Inc		25,677
1,443	*	Medcath Corp		45,887
489	e	National Healthcare Corp		25,232
6,618	*	Odyssey HealthCare, Inc		78,489
3,997	e	Option Care, Inc		61,554
3,370	*e	RehabCare Group, Inc		47,989
2,197	*	Skilled Healthcare Group, Inc (Class A)		34,075
1,451	*e	Sunrise Senior Living, Inc		58,025
4,271	*	Symbion, Inc		92,723
		TOTAL HEALTH SERVICES		2,208,121
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.14%
347	*e	Comverge, Inc		10,760
3,256		Granite Construction, Inc		208,970
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		219,730
HOLDING AND OTHER INVESTMENT OFFICES - 12.88%
9,878	*e	Affordable Residential Communities LP		116,758
1,730	e	Agree Realty Corp		54,063
11,534	e	Alesco Financial, Inc		93,771
3,147		Alexandria Real Estate Equities, Inc		304,693
4,870		American Campus Communities, Inc		137,772
27,823		American Financial Realty Trust		287,133
10,231	e	American Home Mortgage Investment Corp		188,046
3,636	*e	Ampal American Israel (Class A)		21,634
12,053		Anthracite Capital, Inc		141,020
9,001		Anworth Mortgage Asset Corp		81,459
21,418	e	Apollo Investment Corp		460,915
2,519		Arbor Realty Trust, Inc		65,015
22,559		Ashford Hospitality Trust, Inc		265,294
14,007		BioMed Realty Trust, Inc		351,856
1,368		BRT Realty Trust		35,582
8,940	e	Capital Lease Funding, Inc		96,105
631	e	Capital Southwest Corp		98,303
2,744	e	Capital Trust, Inc (Class A)		93,680
5,982	e	CBRE Realty Finance, Inc		71,126
9,132	e	Cedar Shopping Centers, Inc		131,044
386		Cherokee, Inc		14,104
4,432	e	Compass Diversified Trust		79,023
7,247	e	Corporate Office Properties Trust		297,199
5,105		Crystal River Capital, Inc		123,949

248

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
34,949	e	DCT Industrial Trust, Inc	$	376,051
11,201		Deerfield Triarc Capital Corp		163,871
19,650		DiamondRock Hospitality Co		374,922
734		EastGroup Properties, Inc		32,164
5,508	e	Education Realty Trust, Inc		77,277
5,709		Entertainment Properties Trust		307,030
7,842	e	Equity One, Inc		200,363
13,295		Extra Space Storage, Inc		219,368
3,837	e	First Industrial Realty Trust, Inc		148,722
5,266		First Potomac Realty Trust		122,645
12,804	e	Franklin Street Properties Corp		211,778
33,875	e	Friedman Billings Ramsey Group, Inc (Class A)		184,958
2,944	e	Gladstone Capital Corp		63,178
7,054	e	GMH Communities Trust		68,353
3,982	e	Gramercy Capital Corp		109,664
10,246	e	Healthcare Realty Trust, Inc		284,634
8,624	e	Hersha Hospitality Trust		101,936
3,471	*	HFF, Inc (Class A)		53,835
13,105		Highland Hospitality Corp		251,616
3,588		Highwoods Properties, Inc		134,550
1,435		Home Properties, Inc		74,520
16,261	e	IMPAC Mortgage Holdings, Inc		74,963
10,295	e	Inland Real Estate Corp		174,809
9,835		Innkeepers U.S.A. Trust		174,375
9,839		Investors Real Estate Trust		101,637
67,400		iShares Russell 2000 Value Index Fund		5,551,064
10,943	*e	Jamba, Inc		100,019
2,925	e	JER Investors Trust, Inc		43,875
4,447		Kite Realty Group Trust		84,582
8,599	e	LaSalle Hotel Properties		373,369
14,196		Lexington Corporate Properties Trust		295,277
4,870		LTC Properties, Inc		110,793
9,449	e	Luminent Mortgage Capital, Inc		95,340
4,605		Maguire Properties, Inc		158,090
10,485		Medical Properties Trust, Inc		138,717
17,390		MFA Mortgage Investments, Inc		126,599
3,906	e	Mission West Properties, Inc		54,450
5,050		MVC Capital, Inc		94,991
4,766	e	National Health Investors, Inc		151,178
14,369		National Retail Properties, Inc		314,106
2,207		Nationwide Health Properties, Inc		60,030
8,896	e	Newcastle Investment Corp		223,023
12,928		NorthStar Realty Finance Corp		161,729
7,846	e	Novastar Financial, Inc		54,765
3,190	e	Parkway Properties, Inc		153,216
1,130		PennantPark Investment Corp		15,865
6,874		Pennsylvania Real Estate Investment Trust		304,724
7,733		Post Properties, Inc		403,121
8,349	e	Potlatch Corp		359,424
4,128		Prospect Capital Corp		72,116
1,830	*e	Quadra Realty Trust, Inc		22,893
13,473	e	RAIT Investment Trust		350,567
1,566		Ramco-Gershenson Properties		56,266
21,502		Realty Income Corp		541,635

249

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,540		Redwood Trust, Inc	$	219,645
5,319	e	Republic Property Trust		65,158
4,454	e	Resource Capital Corp		62,267
17,354		Senior Housing Properties Trust		353,154
4,165		Sovran Self Storage, Inc		200,586
23,584		Spirit Finance Corp		343,383
3,890	*e	Star Maritime Acquisition Corp		47,691
15,880	e	Strategic Hotels & Resorts, Inc		357,141
12,906		Sunstone Hotel Investors, Inc		366,401
3,044	*e	Tarragon Corp		25,752
1,938	e	Universal Health Realty Income Trust		64,535
4,400		Urstadt Biddle Properties, Inc (Class A)		74,844
10,060		U-Store-It Trust		164,883
5,790	*	Winston Hotels, Inc		86,850
10,136		Winthrop Realty Trust		70,040
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		20,670,917
HOTELS AND OTHER LODGING PLACES - 0.52%
3,133	e	Ameristar Casinos, Inc		108,840
4,633	*e	Bluegreen Corp		54,160
4,974	*	Gaylord Entertainment Co		266,805
6,061	*e	Great Wolf Resorts, Inc		86,369
3,038	*	Isle of Capri Casinos, Inc		72,790
3,678	*e	Lodgian, Inc		55,280
3,029	e	Marcus Corp		71,969
1,037	*e	Riviera Holdings Corp		37,695
6,460	*e	Trump Entertainment Resorts, Inc		81,073
		TOTAL HOTELS AND OTHER LODGING PLACES		834,981
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.73%
678		Actuant Corp (Class A)		42,755
6,148	e	Albany International Corp (Class A)		248,625
5,291	*	Allis-Chalmers Energy, Inc		121,640
1,303		Ampco-Pittsburgh Corp		52,237
1,726	*	ASV, Inc		29,825
1,302	*	Asyst Technologies, Inc		9,413
21,177	*e	Axcelis Technologies, Inc		137,439
3,719		Black Box Corp		153,892
7,989	*e	Blount International, Inc		104,496
10,515	e	Briggs & Stratton Corp		331,853
14,565	*	Brooks Automation, Inc		264,355
2,041		Cascade Corp		160,096
8,165	*	Cirrus Logic, Inc		67,770
1,744	*	Columbus McKinnon Corp		56,157
3,213	*e	Cray, Inc		24,515
4,978		Curtiss-Wright Corp		232,025
1,722	*	Cymer, Inc		69,224
12,068	*	Electronics for Imaging, Inc		340,559
7,392	*	Emulex Corp		161,441
4,482	*e	EnPro Industries, Inc		191,785
24,758	*	Entegris, Inc		294,125
25,643	*e	Extreme Networks, Inc		103,854
64,515	*e	Gateway, Inc		102,579
2,179	*	Gehl Co		66,154

250

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,566	*e	Goodman Global, Inc	$	34,797
2,334		Hardinge, Inc		79,426
5,478	*	Immersion Corp		82,060
2,822	*	Kadant, Inc		88,046
997		Kaydon Corp		51,964
5,859	*e	Komag, Inc		186,844
1,243	*	Kulicke & Soffa Industries, Inc		13,014
1,565	e	Lindsay Manufacturing Co		69,314
7,037		Modine Manufacturing Co		159,036
1,241		Nacco Industries, Inc (Class A)		192,963
1,639		Nordson Corp		82,212
10,344	*e	Oil States International, Inc		427,621
21,811		Palm, Inc		349,194
41,905	*e	Quantum Corp		132,839
5,454	*	Rackable Systems, Inc		67,411
359	*	Rimage Corp		11,341
2,850		Robbins & Myers, Inc		151,421
25,959	*e	Safeguard Scientifics, Inc		72,945
972	e	Sauer-Danfoss, Inc		28,927
515	*e	Scansource, Inc		16,475
4,504	*e	Semitool, Inc		43,283
2,590		Standex International Corp		73,660
4,611	*e	STEC, Inc		29,649
230	*	T-3 Energy Services, Inc		7,694
3,680	*e	Tecumseh Products Co (Class A)		57,813
1,795		Tennant Co		65,518
2,334	*e	Ultratech, Inc		31,112
291		Watsco, Inc		15,830
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		5,989,223
INSTRUMENTS AND RELATED PRODUCTS - 2.48%
2,904		Analogic Corp		213,473
3,375	*	Anaren, Inc		59,434
2,440	*e	Angiodynamics, Inc		43,944
1,660	*	Argon ST, Inc		38,529
559	e	Badger Meter, Inc		15,797
3,971	*	Bio-Rad Laboratories, Inc (Class A)		300,088
1,434	*	Biosite, Inc		132,631
2,386	*	Cantel Medical Corp		40,586
4,402	*	Coherent, Inc		134,305
2,708		Cohu, Inc		60,253
6,167	*	Conmed Corp		180,570
21,653	*e	Credence Systems Corp		77,951
2,619	e	Datascope Corp		100,255
329	*	Eagle Test Systems, Inc		5,284
3,462	e	EDO Corp		113,796
4,265	*	Esterline Technologies Corp		206,042
2,042	*	Excel Technology, Inc		57,053
335	*	Haemonetics Corp		17,624
959	*e	ICU Medical, Inc		41,179
6,149	e	Invacare Corp		112,711
2,777	*	Ixia		25,715
738	*	Kensey Nash Corp		19,786
5,795	*e	L-1 Identity Solutions, Inc		118,508

251

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,815	*	Measurement Specialties, Inc	$	42,979
580	*	Medical Action Industries, Inc		10,475
5,504	*	Merit Medical Systems, Inc		65,828
3,582	e	Mine Safety Appliances Co		156,748
10,050	*	MKS Instruments, Inc		278,385
3,698		Movado Group, Inc		124,771
1,407		MTS Systems Corp		62,851
7,523	*e	Newport Corp		116,456
1,400	*e	Orthofix International NV		62,958
321	*	Rofin-Sinar Technologies, Inc		22,149
3,128	*	Rudolph Technologies, Inc		51,956
3,470	*	Sonic Solutions, Inc		43,757
7,472		STERIS Corp		228,643
6,730	*e	Symmetry Medical, Inc		107,747
1,070	*	Teledyne Technologies, Inc		49,167
2,740	*	Varian, Inc		150,234
5,660	*e	Veeco Instruments, Inc		117,388
133		Vital Signs, Inc		7,388
488	*	Wright Medical Group, Inc		11,771
4,501	*	X-Rite, Inc		66,480
1,142	*	Zoll Medical Corp		25,478
3,943	*	Zygo Corp		56,345
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		3,975,468
INSURANCE AGENTS, BROKERS AND SERVICE - 0.40%
4,917	e	Crawford & Co (Class B)		33,239
7,351		Hilb Rogal & Hobbs Co		315,064
1,270	e	James River Group, Inc		42,202
2,557	e	National Financial Partners Corp		118,415
5,133	*	United America Indemnity Ltd (Class A)		127,658
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		636,578
INSURANCE CARRIERS - 6.87%
6,097	e	21st Century Insurance Group		133,280
1,680	*e	ACA Capital Holdings, Inc		19,992
6,820	e	Alfa Corp		106,187
12,001	e	American Equity Investment Life Holding Co		144,972
2,130	*	American Physicians Capital, Inc		86,265
11,108	*	AMERIGROUP Corp		264,370
3,954	*	Amerisafe, Inc		77,617
1,428		Amtrust Financial Services, Inc		26,832
7,038		Argonaut Group, Inc		219,656
18,444		Aspen Insurance Holdings Ltd		517,723
14,182		Assured Guaranty Ltd		419,220
1,930		Baldwin & Lyons, Inc (Class B)		50,141
3,133		Bristol West Holdings, Inc		70,085
1,628		Castlepoint Holdings Ltd		23,915
2,769	*	Centene Corp		59,312
6,732	*e	Citizens, Inc		47,393
3,450	*	CNA Surety Corp		65,240
11,344		Commerce Group, Inc		393,864
509	*	Darwin Professional Underwriters, Inc		12,812
9,081		Delphi Financial Group, Inc (Class A)		379,767
2,910	e	Donegal Group, Inc (Class A)		43,359

252

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,250		EMC Insurance Group, Inc	$	31,025
11,218		Employers Holdings, Inc		238,270
2,950		FBL Financial Group, Inc (Class A)		115,994
3,569	*	First Acceptance Corp		36,261
1,324	*	First Mercury Financial Corp		27,764
2,794	*	Flagstone Reinsurance Holdings Ltd		37,216
2,128	*	Fpic Insurance Group, Inc		86,759
1,824		Great American Financial Resources, Inc		44,123
1,674	*	Greenlight Capital Re Ltd (Class A)		37,715
924	*	Hallmark Financial Services		11,199
3,169		Harleysville Group, Inc		105,718
3,710	*	Healthspring, Inc		70,713
9,029		Horace Mann Educators Corp		191,776
1,300		Independence Holding Co		26,559
4,166		Infinity Property & Casualty Corp		211,341
13,263		IPC Holdings Ltd		428,262
854		Kansas City Life Insurance Co		39,728
3,632	e	LandAmerica Financial Group, Inc		350,452
12,592		Max Re Capital Ltd		356,354
5,432	*	Meadowbrook Insurance Group, Inc		59,535
2,155		Midland Co		101,156
2,856	*	Molina Healthcare, Inc		87,165
23,380		Montpelier Re Holdings Ltd		433,465
974		National Interstate Corp		25,402
485		National Western Life Insurance Co (Class A)		122,666
2,872	*	Navigators Group, Inc		154,801
1,157	e	NYMAGIC, Inc		46,511
5,865	e	Odyssey Re Holdings Corp		251,550
12,719		Ohio Casualty Corp		550,860
24,259		Phoenix Cos, Inc		364,128
12,499		Platinum Underwriters Holdings Ltd		434,340
7,177	*	PMA Capital Corp (Class A)		76,722
4,781		Presidential Life Corp		93,994
7,632	*	Primus Guaranty Ltd		81,815
7,113	*	ProAssurance Corp		395,981
12,691	*	PXRE Group Ltd		58,886
3,798	*	RAM Holdings Ltd		59,819
4,542		RLI Corp		254,125
3,372		Safety Insurance Group, Inc		139,601
14,327		Scottish Re Group Ltd		70,059
4,382	*	SeaBright Insurance Holdings, Inc		76,597
4,968		Security Capital Assurance Ltd		153,362
11,729		Selective Insurance Group, Inc		315,276
3,058		State Auto Financial Corp		93,728
3,643		Stewart Information Services Corp		145,101
2,344	*e	Triad Guaranty, Inc		93,596
4,506		United Fire & Casualty Co		159,422
6,484	*	Universal American Financial Corp		137,980
7,887		Zenith National Insurance Corp		371,399
		TOTAL INSURANCE CARRIERS		11,018,273
LEATHER AND LEATHER PRODUCTS - 0.29%
838	*	Genesco, Inc		43,836
2,156		Steven Madden Ltd		70,631

253

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
6,298	*	Timberland Co (Class A)	$	158,647
1,550	e	Weyco Group, Inc		41,742
5,414		Wolverine World Wide, Inc		150,022
		TOTAL LEATHER AND LEATHER PRODUCTS		464,878
LUMBER AND WOOD PRODUCTS - 0.18%
2,475		American Woodmark Corp		85,635
2,521	*e	Champion Enterprises, Inc		24,781
1,270	e	Skyline Corp		38,113
3,515		Universal Forest Products, Inc		148,544
		TOTAL LUMBER AND WOOD PRODUCTS		297,073
METAL MINING - 0.28%
28,339	*e	Coeur d'Alene Mines Corp		101,737
5,016	*	Rosetta Resources, Inc		108,045
3,224	e	Royal Gold, Inc		76,634
8,303	*	Stillwater Mining Co		91,416
5,844	*e	Uranium Resources, Inc		64,459
		TOTAL METAL MINING		442,291
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.68%
4,697		Blyth, Inc		124,846
15,360	e	Callaway Golf Co		273,562
5,746	*e	Jakks Pacific, Inc		161,692
10,605	*e	K2, Inc		161,090
2,109	e	Marine Products Corp		17,357
4,160	e	Nautilus, Inc		50,086
4,297	*	RC2 Corp		171,923
3,495	*	Russ Berrie & Co, Inc		65,112
1,781		Steinway Musical Instruments, Inc		61,605
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,087,273
MISCELLANEOUS RETAIL - 0.47%
746	*e	AC Moore Arts & Crafts, Inc		14,629
3,158	e	Books-A-Million, Inc		53,497
12,422	e	Borders Group, Inc		236,763
389		Cash America International, Inc		15,424
641	*e	CKX, Inc		8,859
400		Longs Drug Stores Corp		21,008
1,506	*	PC Connection, Inc		19,939
2,105	e	Pricesmart, Inc		52,057
957		Systemax, Inc		19,915
444	*	Valuevision International, Inc (Class A)		5,026
1,413		World Fuel Services Corp		59,431
10,503	*e	Zale Corp		250,076
		TOTAL MISCELLANEOUS RETAIL		756,624
MOTION PICTURES - 0.41%
8,679	*e	Avid Technology, Inc		306,803
41,612	*e	Blockbuster, Inc (Class A)		179,348
2,796	e	Carmike Cinemas, Inc		61,400
3,079	*e	Cinemark Holdings Inc		55,083
885	*	Gaiam, Inc (Class A)		16,134

254

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,337	*e	Time Warner Telecom, Inc (Class A)	$	46,974
		TOTAL MOTION PICTURES		665,742
NONDEPOSITORY INSTITUTIONS - 1.47%
4,503	*e	Accredited Home Lenders Holding Co		61,556
1,020	e	Advance America Cash Advance Centers, Inc		18,095
4,106		Advanta Corp (Class B)		127,861
14,868	e	Ares Capital Corp		250,526
773		Asta Funding, Inc		29,706
4,901	e	Centerline Holding Co		88,218
1,689	*e	CompuCredit Corp		59,149
3,469		Delta Financial Corp		42,565
2,836	*e	Encore Capital Group, Inc		35,393
4,649	*e	Energy Infrastructure Acquisition Corp		45,374
2,114		Federal Agricultural Mortgage Corp (Class C)		72,341
5,717	e	Financial Federal Corp		170,481
11,063	*e	Freedom Acquisition Holding, Inc		121,804
4,712		Hercules Technology Growth Capital, Inc		63,659
3,500	*e	Information Services Group, Inc		26,775
2,711	*	INVESTools, Inc		27,002
2,997		Kohlberg Capital Corp		55,594
7,912	*e	Marathon Acquisition Corp		62,347
12,919	e	MCG Capital Corp		206,962
3,373		Nelnet, Inc (Class A)		82,436
1,420	*e	NewStar Financial, Inc		20,207
3,886	e	NGP Capital Resources Co		64,974
5,163	*e	NTR Acquisition Co		48,894
7,657	*e	Ocwen Financial Corp		102,068
3,743	e	Patriot Capital Funding, Inc		55,584
11,366	*	PHH Corp		354,733
4,031	e	Technology Investment Capital Corp		63,649
		TOTAL NONDEPOSITORY INSTITUTIONS		2,357,953
NONMETALLIC MINERALS, EXCEPT FUELS - 0.22%
3,763	e	AMCOL International Corp		102,768
7,009	e	Compass Minerals International, Inc		242,932
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		345,700
OIL AND GAS EXTRACTION - 2.93%
2,308	*e	Basic Energy Services, Inc		59,016
4,905		Berry Petroleum Co (Class A)		184,820
1,404	*e	Bill Barrett Corp		51,709
338	*e	Bois d'Arc Energy, Inc		5,756
9,591	*e	Brigham Exploration Co		56,299
5,499	*e	Bronco Drilling Co, Inc		90,239
4,324	*	Callon Petroleum Co		61,271
1,153	*	Clayton Williams Energy, Inc		30,520
2,493	*	Comstock Resources, Inc		74,715
172	*	Dawson Geophysical Co		10,571
5,790	*	Edge Petroleum Corp		81,118
11,283	*	Encore Acquisition Co		313,667
5,914	*e	Energy Partners Ltd		98,705
12,898	*e	EXCO Resources, Inc		224,941
3,778	*	Geomet, Inc		28,939
35,740	*	Grey Wolf, Inc		294,498

255

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
19,622	*e	Hanover Compressor Co	$	467,985
7,880	*e	Harvest Natural Resources, Inc		93,851
6,891	*	Horizon Offshore, Inc		132,307
2,088		Kayne Anderson Energy Development Co		52,576
8,458	*	Mariner Energy, Inc		205,107
2,609	*	McMoRan Exploration Co		36,526
20,078	*	Meridian Resource Corp		60,636
2,796	*	Newpark Resources, Inc		21,669
22,825	*	Oilsands Quest, Inc		56,378
4,903	*	Parker Drilling Co		51,678
4,583		Penn Virginia Corp		184,237
800	m,v*	PetroCorp		(0)
17,235	*e	PetroHawk Energy Corp		273,347
2,687	*	Petroleum Development Corp		127,579
10,432	*	Pioneer Drilling Co		155,541
6,081	*	Stone Energy Corp		208,335
2,526	*e	Sulphco, Inc		9,119
801	*	Superior Offshore International, Inc		14,578
870	*	Superior Well Services, Inc		22,107
6,384	*	Swift Energy Co		272,980
3,188	*	Toreador Resources Corp		47,820
2,420	*e	Trico Marine Services, Inc		98,930
2,804	*	Union Drilling, Inc		46,042
12,466	*	Vaalco Energy, Inc		60,211
739	*	Warren Resources, Inc		8,632
7,865	*e	Whiting Petroleum Corp		318,690
		TOTAL OIL AND GAS EXTRACTION		4,693,645
PAPER AND ALLIED PRODUCTS - 0.75%
11,940	e	Bowater, Inc		297,903
8,172	*	Buckeye Technologies, Inc		126,421
4,140	*e	Chesapeake Corp		52,040
9,274	e	Glatfelter		126,034
6,733	*	Mercer International, Inc		68,677
966		Neenah Paper, Inc		39,857
2,106	*	Playtex Products, Inc		31,190
7,400		Rock-Tenn Co (Class A)		234,728
3,190		Schweitzer-Mauduit International, Inc		98,890
9,085		Wausau Paper Corp		121,739
		TOTAL PAPER AND ALLIED PRODUCTS		1,197,479
PERSONAL SERVICES - 0.55%
4,291	*e	Coinstar, Inc		135,081
4,552	e	G & K Services, Inc (Class A)		179,850
1,134		Jackson Hewitt Tax Service, Inc		31,877
9,432		Regis Corp		360,774
862	*	Steiner Leisure Ltd		42,341
2,985		Unifirst Corp		131,489
		TOTAL PERSONAL SERVICES		881,412
PETROLEUM AND COAL PRODUCTS - 0.15%
1,045		Delek US Holdings, Inc		27,849
8,295	*e	Headwaters, Inc		143,255

256

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,149		WD-40 Co	$	70,638
		TOTAL PETROLEUM AND COAL PRODUCTS		241,742
PRIMARY METAL INDUSTRIES - 1.49%
2,323	*	Century Aluminum Co		126,905
1,838	*	Claymont Steel, Inc		39,315
4,927		Encore Wire Corp		145,051
5,030		Gibraltar Industries, Inc		111,415
7,781		Mueller Industries, Inc		267,978
1,888	*e	Northwest Pipe Co		67,156
1,936		Olympic Steel, Inc		55,486
7,809		Quanex Corp		380,298
4,678	e	Schnitzer Steel Industries, Inc (Class A)		224,263
4,314	*e	Superior Essex, Inc		161,128
3,426	e	Texas Industries, Inc		268,633
6,761		Tredegar Corp		144,009
645	*e	Universal Stainless & Alloy		22,723
2,733	*e	Wheeling-Pittsburgh Corp		52,009
14,730		Worthington Industries, Inc		318,905
		TOTAL PRIMARY METAL INDUSTRIES		2,385,274
PRINTING AND PUBLISHING - 1.55%
8,353	*e	ACCO Brands Corp		192,537
11,711	e	American Greetings Corp (Class A)		331,773
17,886		Belo (A.H.) Corp (Class A)		368,273
5,893		Bowne & Co, Inc		114,972
353	*	Consolidated Graphics, Inc		24,456
659	e	Courier Corp		26,360
1,642	e	CSS Industries, Inc		65,040
5,590		Ennis, Inc		131,477
3,037	e	GateHouse Media, Inc		56,336
9,603		Journal Communications, Inc (Class A)		124,935
10,033		Lee Enterprises, Inc		209,288
4,873		Media General, Inc (Class A)		162,125
4,540	*e	Playboy Enterprises, Inc (Class B)		51,438
55,556	*e	Primedia, Inc		158,335
2,456		Schawk, Inc		49,169
7,308	*	Scholastic Corp		262,650
3,384	e	Standard Register Co		38,578
7,259	*e	Sun-Times Media Group, Inc (Class A)		38,110
5,106	*	Valassis Communications, Inc		87,772
		TOTAL PRINTING AND PUBLISHING		2,493,624
RAILROAD TRANSPORTATION - 0.07%
3,501	*	Genesee & Wyoming, Inc (Class A)		104,470
		TOTAL RAILROAD TRANSPORTATION		104,470
REAL ESTATE - 0.18%
9,628	*	Meruelo Maddux Properties, Inc		78,564
21,775	e	Stewart Enterprises, Inc (Class A)		169,627
1,007	*e	Stratus Properties, Inc		34,742
		TOTAL REAL ESTATE		282,933
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.57%
13,041		Cooper Tire & Rubber Co		360,192

257

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,582		Schulman (A.), Inc	$	135,810
6,826		Spartech Corp		181,230
2,216	*	Trex Co, Inc		43,500
6,589		Tupperware Corp		189,368
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		910,100
SECURITY AND COMMODITY BROKERS - 0.88%
4,586		Calamos Asset Management, Inc (Class A)		117,172
3,323	*	Cowen Group, Inc		59,515
1,735		Evercore Partners, Inc (Class A)		51,651
920	e	GAMCO Investors, Inc (Class A)		51,566
4,655	*e	Interactive Brokers Group, Inc (Class A)		126,290
5,784	*e	KBW, Inc		169,934
13,012	*	Knight Capital Group, Inc (Class A)		215,999
11,582	*e	LaBranche & Co, Inc		85,475
4,070	*	Piper Jaffray Cos		226,821
3,648	e	Sanders Morris Harris Group, Inc		42,463
4,185	e	SWS Group, Inc		90,480
4,553	*	Thomas Weisel Partners Group, Inc		75,807
2,990		Waddell & Reed Financial, Inc (Class A)		77,770
2,464		WP Stewart & Co Ltd		26,833
		TOTAL SECURITY AND COMMODITY BROKERS		1,417,776
SOCIAL SERVICES - 0.10%
4,239	*	Capital Senior Living Corp		39,931
592	*	Providence Service Corp		15,818
5,060	*	Res-Care, Inc		106,968
		TOTAL SOCIAL SERVICES		162,717
SPECIAL TRADE CONTRACTORS - 0.62%
6,679	*	AsiaInfo Holdings, Inc		64,786
362		Chemed Corp		23,997
7,641		Comfort Systems USA, Inc		108,349
4,549	*e	Dycom Industries, Inc		136,379
6,769	*	EMCOR Group, Inc		493,460
5,764	*e	Insituform Technologies, Inc (Class A)		125,713
1,428	*	Integrated Electrical Services, Inc		47,081
		TOTAL SPECIAL TRADE CONTRACTORS		999,765
STONE, CLAY, AND GLASS PRODUCTS - 0.08%
1,018	*	Cabot Microelectronics Corp		36,129
2,815		Libbey, Inc		60,720
4,435	*e	US Concrete, Inc		38,540
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		135,389
TEXTILE MILL PRODUCTS - 0.10%
3,224		Oxford Industries, Inc		142,952
2,451		Xerium Technologies, Inc		18,677
		TOTAL TEXTILE MILL PRODUCTS		161,629
TOBACCO PRODUCTS - 0.25%
5,642		Universal Corp		343,711
2,338	e	Vector Group Ltd		52,675
		TOTAL TOBACCO PRODUCTS		396,386

258

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION BY AIR - 1.16%
12,386	*	ABX Air, Inc	$	99,831
9,002	*	Alaska Air Group, Inc		250,796
2,882	*e	Atlas Air Worldwide Holdings, Inc		169,865
4,332	*e	Bristow Group, Inc		214,651
3,564	*	EGL, Inc		165,655
9,238	*e	ExpressJet Holdings, Inc		55,243
32,483	*e	JetBlue Airways Corp		381,675
1,557	*e	PHI, Inc		46,383
7,695	*	Republic Airways Holdings, Inc		156,593
13,615		Skywest, Inc		324,445
		TOTAL TRANSPORTATION BY AIR		1,865,137
TRANSPORTATION EQUIPMENT - 2.00%
4,277		A.O. Smith Corp		170,610
578	*e	AAR Corp		19,080
4,899	*	Accuride Corp		75,494
4,795	*	Aftermarket Technology Corp		142,316
9,460	e	American Axle & Manufacturing Holdings, Inc		280,205
2,601	e	Arctic Cat, Inc		51,500
15,100	e	ArvinMeritor, Inc		335,220
5,521		Clarcor, Inc		206,651
10,172		Federal Signal Corp		161,328
2,429	e	Freightcar America, Inc		116,203
3,372	e	Greenbrier Cos, Inc		101,902
5,163	e	Group 1 Automotive, Inc		208,275
3,480		Kaman Corp		108,541
1,511	*	Miller Industries, Inc		37,926
6,224	e	Monaco Coach Corp		89,314
2,007	*	Orbital Sciences Corp		42,167
1,247	e	Polaris Industries, Inc		67,538
1,500	*	Sequa Corp (Class A)		168,000
3,234		Standard Motor Products, Inc		48,607
5,041	e	Superior Industries International, Inc		109,692
7,580	*	Tenneco, Inc		265,603
2,784		Triumph Group, Inc		182,268
13,364	*	Visteon Corp		108,248
6,175	e	Wabash National Corp		90,340
632	e	Winnebago Industries, Inc		18,657
		TOTAL TRANSPORTATION EQUIPMENT		3,205,685
TRANSPORTATION SERVICES - 0.34%
1,243		Ambassadors International, Inc		41,342
10,805	*	Lear Corp		384,766
5,304		Pacer International, Inc		124,750
		TOTAL TRANSPORTATION SERVICES		550,858
TRUCKING AND WAREHOUSING - 0.47%
4,860	e	Arkansas Best Corp		189,394
1,409	e	Forward Air Corp		48,033
8,150		Heartland Express, Inc		132,845
3,232	*	Marten Transport Ltd		58,208
395	*	Old Dominion Freight Line		11,909

259

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
310	*e	Patriot Transportation Holding, Inc	$	26,877
2,785	*	Saia, Inc		75,919
679	*e	Universal Truckload Services, Inc		13,492
10,082	e	Werner Enterprises, Inc		203,152
		TOTAL TRUCKING AND WAREHOUSING		759,829
WATER TRANSPORTATION - 0.80%
6,346	e	Eagle Bulk Shipping, Inc		142,214
3,490		Genco Shipping & Trading Ltd		143,997
5,985	e	General Maritime Corp		160,278
5,714		Golar LNG Ltd		95,195
4,788	*e	Gulfmark Offshore, Inc		245,241
4,858	*e	Hornbeck Offshore Services, Inc		188,296
5,635		Nordic American Tanker Shipping		230,133
1,024	*	TBS International Ltd (Class A)		29,082
2,104	*	Ultrapetrol Bahamas Ltd		49,865
		TOTAL WATER TRANSPORTATION		1,284,301
WHOLESALE TRADE-DURABLE GOODS - 1.34%
6,699		Agilysys, Inc		150,727
7,431		Applied Industrial Technologies, Inc		219,215
942		Barnes Group, Inc		29,843
841	*	Beacon Roofing Supply, Inc		14,289
2,910	e	BlueLinx Holdings, Inc		30,526
6,157	e	Building Material Holding Corp		87,368
1,516		Castle (A.M.) & Co		54,440
4,527	*	Digi International, Inc		66,728
5,950	*	Genesis Microchip, Inc		55,692
630	*e	Hansen Medical, Inc		11,901
22,808		IKON Office Solutions, Inc		356,033
10,285	*	Insight Enterprises, Inc		232,132
3,448	*	Interline Brands, Inc		89,924
931		Lawson Products, Inc		36,030
7,065	e	Owens & Minor, Inc		246,851
7,350	e	PEP Boys-Manny Moe & Jack		148,176
1,902	*	RSC Holdings, Inc		38,040
5,520	e	Ryerson Tull, Inc		207,828
1,625	*	Solera Holdings, Inc		31,493
3,396	*e	West Marine, Inc		46,729
		TOTAL WHOLESALE TRADE-DURABLE GOODS		2,153,965
WHOLESALE TRADE-NONDURABLE GOODS - 0.99%
3,260		Andersons, Inc		147,776
1,250	*e	Central European Distribution Corp		43,275
2,009	*	Core-Mark Holding Co, Inc		72,284
5,890	*e	Fresh Del Monte Produce, Inc		147,544
8,287	*	Hain Celestial Group, Inc		224,909
1,816	e	Kenneth Cole Productions, Inc (Class A)		44,855
3,646	e	K-Swiss, Inc (Class A)		103,291
580	*e	Maui Land & Pineapple Co, Inc		21,303
1,569	e	Nash Finch Co		77,665
3,666		Nu Skin Enterprises, Inc (Class A)		60,489
722	*	Nuco2, Inc		18,534
2,405	*e	Perry Ellis International, Inc		77,369

260

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,665	*e	School Specialty, Inc	$	129,888
6,449	*e	Source Interlink Cos, Inc		32,116
2,978	e	Spartan Stores, Inc		98,006
7,125		Stride Rite Corp		144,353
2,195	*	United Stationers, Inc		146,275
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,589,932
		TOTAL COMMON STOCKS		157,885,647
		(Cost $144,251,395)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 29.77%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.19%
$      1,900,000	d	Federal Home Loan Bank (FHLB), 0.000% 07/02/07		1,900,000
				1,900,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 28.58%
45,859,529		State Street Navigator Securities Lending Prime Portfolio		45,859,529
				45,859,529
		TOTAL SHORT-TERM INVESTMENTS		47,759,529
		(Cost $47,759,276)
		TOTAL PORTFOLIO - 128.18%		205,645,176
		(Cost $192,010,671)
		OTHER ASSETS & LIABILITIES, NET - (28.18)%		(45,206,675	)
		NET ASSETS - 100.00%	$	160,438,501
	*	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 in the amount of $1,899,240.
	e	All or a portion of these securities are out on loan.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.

261

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, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 100.01%
AGRICULTURAL PRODUCTION-CROPS - 0.05%
6,483	e	Chiquita Brands International, Inc	$	122,917
		TOTAL AGRICULTURAL PRODUCTION-CROPS		122,917
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.17%
6,168	e	Pilgrim's Pride Corp		235,432
61		Seaboard Corp		143,045
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		378,477
AGRICULTURAL SERVICES - 0.02%
1,697	*e	Cadiz, Inc		38,131
		TOTAL AGRICULTURAL SERVICES		38,131
AMUSEMENT AND RECREATION SERVICES - 0.88%
8,134	*e	Bally Technologies, Inc		214,900
1,327		Churchill Downs, Inc		69,508
2,800		Dover Downs Gaming & Entertainment, Inc		42,028
3,453	*e	Lakes Entertainment, Inc		40,780
5,059	*e	Leapfrog Enterprises, Inc		51,855
4,849	*e	Life Time Fitness, Inc		258,112
10,015	*	Live Nation, Inc		224,136
7,057	*	Magna Entertainment Corp		20,606
8,276	*e	Marvel Entertainment, Inc		210,872
2,941	*	MTR Gaming Group, Inc		45,291
3,537	*e	Multimedia Games, Inc		45,132
9,122	*	Pinnacle Entertainment, Inc		256,784
10,071	*e	Six Flags, Inc		61,332
2,279		Speedway Motorsports, Inc		91,114
2,302	*	Town Sports International Holdings, Inc		44,475
10,475	*	Westwood One, Inc		75,315
6,203	*e	WMS Industries, Inc		179,019
3,262		World Wrestling Entertainment, Inc		52,159
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,983,418
APPAREL AND ACCESSORY STORES - 1.80%
7,899	*	Aeropostale, Inc		329,230
4,189	e	Bebe Stores, Inc		67,066
6,455		Brown Shoe Co, Inc		156,986
2,029		Buckle, Inc		79,943
1,755	*e	Cache, Inc		23,289
8,926	*e	Carter's, Inc		231,540
5,222	*e	Casual Male Retail Group, Inc		52,742
4,304		Cato Corp (Class A)		94,430
4,009	*	Charlotte Russe Holding, Inc		107,722
18,907	*	Charming Shoppes, Inc		204,763
3,432	*	Children's Place Retail Stores, Inc		177,228

262

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,809	e	Christopher & Banks Corp	$	99,624
1,980	*e	Citi Trends, Inc		75,161
1,120		DEB Shops, Inc		30,968
7,241	*	Dress Barn, Inc		148,585
2,369	*e	DSW, Inc (Class A)		82,489
4,348	*	Eddie Bauer Holdings, Inc		55,872
6,304		Finish Line, Inc (Class A)		57,429
6,740	*	HOT Topic, Inc		73,264
5,953	*e	J Crew Group, Inc		321,998
3,640	*	Jo-Ann Stores, Inc		103,485
2,645	*e	JOS A Bank Clothiers, Inc		109,688
2,891	*	New York & Co, Inc		31,685
10,725	*	Pacific Sunwear Of California, Inc		235,950
9,970	*	Payless Shoesource, Inc		314,554
1,662	*	Shoe Carnival, Inc		45,688
6,727		Stage Stores, Inc		140,998
1,560	*e	Syms Corp		30,779
3,487	e	Talbots, Inc		87,280
4,680	*	Tween Brands, Inc		208,728
3,778	*e	Under Armour, Inc (Class A)		172,466
12,040	*e	Wet Seal, Inc (Class A)		72,360
		TOTAL APPAREL AND ACCESSORY STORES		4,023,990
APPAREL AND OTHER TEXTILE PRODUCTS - 0.51%
2,003		Columbia Sportswear Co		137,566
1,848	*	G-III Apparel Group Ltd		29,180
4,999	*	Gymboree Corp		197,011
3,711	e	Kellwood Co		104,353
3,783	*	Maidenform Brands, Inc		75,130
19,002	*	Quiksilver, Inc		268,498
2,321	*	True Religion Apparel, Inc		47,186
7,070	*	Warnaco Group, Inc		278,134
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,137,058
AUTO REPAIR, SERVICES AND PARKING - 0.32%
1,666	*e	Amerco, Inc		125,783
3,664	*	Dollar Thrifty Automotive Group, Inc		149,638
9,864	*	Exide Technologies		91,735
2,122	*	Midas, Inc		48,106
2,046		Monro Muffler, Inc		76,623
763	*	Standard Parking Corp		26,804
6,101	*	Wright Express Corp		209,081
		TOTAL AUTO REPAIR, SERVICES AND PARKING		727,770
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.24%
4,019		Asbury Automotive Group, Inc		100,274
6,430	*e	CSK Auto Corp		118,312
2,266	e	Lithia Motors, Inc (Class A)		57,420
2,468	*e	MarineMax, Inc		49,409
3,649	*	Rush Enterprises, Inc (Class A)		79,256
4,557	e	Sonic Automotive, Inc (Class A)		132,016
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		536,687

263

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.07%
2,030	*e	Builders FirstSource, Inc	$	32,602
10,665	*e	Central Garden and Pet Co (Class A)		125,100
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		157,702
BUSINESS SERVICES - 10.72%
7,095	*	24/7 Real Media, Inc		83,224
59,473	*	3Com Corp		245,623
2,179	*e	3D Systems Corp		54,192
7,062		Aaron Rents, Inc		206,210
6,615		ABM Industries, Inc		170,733
4,196	*e	Acacia Research (Acacia Technologies)		67,807
8,645	*	Actuate Corp		58,700
3,646		Administaff, Inc		122,105
2,640	*e	Advent Software, Inc		85,932
8,592	*	Agile Software Corp		69,252
4,608	*e	American Reprographics Co		141,880
5,453	*	AMN Healthcare Services, Inc		119,966
2,391	*	Ansoft Corp		70,511
11,849	*	Ansys, Inc		313,999
4,574		Arbitron, Inc		235,698
11,979	*e	Ariba, Inc		118,712
19,234	*e	Art Technology Group, Inc		51,162
13,457	*e	Aspen Technology, Inc		188,398
2,804		Asset Acceptance Capital Corp		49,631
7,704	*	Avocent Corp		223,493
1,808	*e	Bankrate, Inc		86,639
1,114	e	Barrett Business Services		28,775
30,805	*e	BearingPoint, Inc		225,185
18,531	*	BISYS Group, Inc		219,222
6,876		Blackbaud, Inc		151,822
4,358	*	Blackboard, Inc		183,559
1,860	*	Blue Coat Systems, Inc		92,107
9,851	*e	Borland Software Corp		58,515
3,745	*	Bottomline Technologies, Inc		46,251
6,427	*e	BPZ Energy, Inc		35,863
7,694		Brady Corp (Class A)		285,755
4,722	*	CACI International, Inc (Class A)		230,670
1,534	*	Capella Education Co		70,610
5,611		Catalina Marketing Corp		176,747
963	*	Cavium Networks, Inc		21,783
7,403	*e	CBIZ, Inc		54,412
5,395	*	Chordiant Software, Inc		84,486
8,522	*	Ciber, Inc		69,710
2,421	*e	Clayton Holdings, Inc		27,575
71,640	*	CMGI, Inc		139,698
23,107	*e	CNET Networks, Inc		189,246
7,633	*e	Cogent Communications Group, Inc		227,998
6,417	*e	Cogent, Inc		94,266
6,834	e	Cognex Corp		153,833
5,066	*e	Commvault Systems, Inc		87,490
1,304	e	Computer Programs & Systems, Inc		40,398
2,545	*	COMSYS IT Partners, Inc		58,051
5,901	*e	Concur Technologies, Inc		134,838
2,931	*e	CoStar Group, Inc		154,991

264

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,304	*	Covansys Corp	$	146,035
6,631	*	CSG Systems International, Inc		175,788
4,620	*e	Cybersource Corp		55,717
5,097	*	DealerTrack Holdings, Inc		187,773
7,930		Deluxe Corp		322,037
6,317	*	Digital River, Inc		285,844
3,316	*	DivX, Inc		49,740
1,780	*	Double-Take Software, Inc		29,210
3,564	*e	DynCorp International, Inc (Class A)		78,372
19,290	*	Earthlink, Inc		144,096
4,302	*e	Echelon Corp		67,240
7,108	*e	Eclipsys Corp		140,738
2,780	*	eCollege.com, Inc		61,855
7,235	*e	eFunds Corp		255,323
2,479	e	Electro Rent Corp		36,045
8,421	*	Epicor Software Corp		125,220
3,595	*e	EPIQ Systems, Inc		58,095
4,824	*e	Equinix, Inc		441,251
3,125	*e	eSpeed, Inc (Class A)		27,000
13,615	*e	Evergreen Energy, Inc		82,098
3,226	*e	ExlService Holdings, Inc		60,455
4,602	*	FalconStor Software, Inc		48,551
1,246	*e	First Advantage Corp (Class A)		28,670
2,442	*	Forrester Research, Inc		68,693
2,703		FTD Group, Inc		49,762
10,534	*	Gartner, Inc		259,031
3,326	*	Gerber Scientific, Inc		38,648
3,612	e	Gevity HR, Inc		69,820
6,997	*	Global Cash Access, Inc		112,092
2,243	*e	Global Sources Ltd		50,916
790	*	Guidance Software, Inc		11,139
2,540	*e	H&E Equipment Services, Inc		70,460
4,358	e	Healthcare Services Group		128,561
2,331	e	Heartland Payment Systems, Inc		68,368
2,669	*	Heidrick & Struggles International, Inc		136,760
2,985	*	HMS Holdings Corp		57,133
3,687	*	Hudson Highland Group, Inc		78,865
8,310	*	Hypercom Corp		49,112
2,302	*e	i2 Technologies, Inc		42,909
1,549	*e	ICT Group, Inc		28,982
3,941	*	iGate Corp		31,607
4,801	*	IHS, Inc (Class A)		220,846
2,119		Imergent, Inc		51,831
3,156	*e	Infocrossing, Inc		58,291
13,367	*	Informatica Corp		197,431
5,197		Infospace, Inc		120,622
4,778		infoUSA, Inc		48,831
3,327	*e	Innerworkings, Inc		53,299
1,950	*e	Innovative Solutions & Support, Inc		45,279
2,059	e	Integral Systems, Inc		50,054
5,615		Interactive Data Corp		150,370
1,860	*	Interactive Intelligence, Inc		38,316
7,805	*e	Internap Network Services Corp		112,548
5,592	*	Internet Capital Group, Inc		69,341

265

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,594	e	Interpool, Inc	$	42,879
6,466	*	Interwoven, Inc		90,783
4,753	*	inVentiv Health, Inc		174,007
9,282	*e	Ipass, Inc		50,308
12,027		Jack Henry & Associates, Inc		309,695
3,689	*	JDA Software Group, Inc		72,415
3,326		Kelly Services, Inc (Class A)		91,332
3,918	*e	Kenexa Corp		147,748
2,240	*	Keynote Systems, Inc		36,736
4,536	*	Kforce, Inc		72,485
3,943	*e	Knot, Inc		79,609
6,524	*	Korn/Ferry International		171,320
7,088	*	Labor Ready, Inc		163,804
19,885	*e	Lawson Software, Inc		196,663
9,002	*	Lionbridge Technologies		53,022
1,515	*e	Liquidity Services, Inc		28,452
7,280	*e	LivePerson, Inc		38,948
2,837	*	LoJack Corp		63,237
5,600	*e	Magma Design Automation, Inc		78,624
4,288	*	Manhattan Associates, Inc		119,678
2,788	*	Mantech International Corp (Class A)		85,954
3,995	e	Marchex, Inc (Class B)		65,198
13,015	*	Mentor Graphics Corp		171,408
1,485	*	MicroStrategy, Inc (Class A)		140,318
3,332	*e	Midway Games, Inc		21,192
15,884	*	Move, Inc		71,160
15,669	*	MPS Group, Inc		209,495
6,265	*	MSC.Software Corp		84,828
5,423	*	Ness Technologies, Inc		70,553
6,986	*e	NetFlix, Inc		135,459
3,764	*	Network Equipment Technologies, Inc		35,909
6,598	e	NIC, Inc		45,130
20,134	*e	Nuance Communications, Inc		336,842
4,525	*e	Omniture, Inc		103,713
5,691	*	On Assignment, Inc		61,008
3,734	*e	Online Resources Corp		40,999
18,565	*	OpenTV Corp (Class A)		39,358
13,743	*e	Opsware, Inc		130,696
6,048	*	Packeteer, Inc		47,235
17,549	*	Parametric Technology Corp		379,234
3,657	*e	PDF Solutions, Inc		43,262
2,294	e	Pegasystems, Inc		25,073
3,454	*e	PeopleSupport, Inc		39,203
4,723	*e	Perficient, Inc		97,766
13,344	*	Perot Systems Corp (Class A)		227,382
5,871	*	Phase Forward, Inc		98,809
2,490	e	Portfolio Recovery Associates, Inc		149,450
2,967	*	PRA International		75,065
10,986	*	Premiere Global Services, Inc		143,038
6,267	*	Progress Software Corp		199,228
1,692	*	Protection One, Inc		25,312
2,069	e	QAD, Inc		17,173
2,665	e	Quality Systems, Inc		101,190
10,421	*	Quest Software, Inc		168,716

266

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,981	*	Radiant Systems, Inc	$	52,708
3,314	*e	Radisys Corp		41,094
5,624	*e	Raser Technologies, Inc		41,561
14,760	*	RealNetworks, Inc		120,589
1,008	e	Renaissance Learning, Inc		13,255
10,745	*	Rent-A-Center, Inc		281,841
2,438	*e	RightNow Technologies, Inc		40,008
4,070		Rollins, Inc		92,674
7,899	*	S1 Corp		63,113
11,873	*	Sapient Corp		91,778
6,719	*e	Secure Computing Corp		50,997
1,891	*e	SI International, Inc		62,441
931	*	Silicon Graphics, Inc		24,709
4,523	*e	Smith Micro Software, Inc		68,116
4,313	*e	Sohu.com, Inc		137,973
9,270	*	SonicWALL, Inc		79,629
38,591	*	Sonus Networks, Inc		328,795
10,095		Sotheby's		464,572
946	*	Sourcefire, Inc		13,235
8,425	*	Spherion Corp		79,111
2,760	*	SPSS, Inc		121,826
6,306	*	SRA International, Inc (Class A)		159,290
1,518	*	Stratasys, Inc		71,316
13,949	*	Sybase, Inc		333,242
5,130	*	SYKES Enterprises, Inc		97,419
3,019	*e	Synchronoss Technologies, Inc		88,577
2,326	*e	SYNNEX Corp		47,939
1,798		Syntel, Inc		54,641
11,142	*e	Take-Two Interactive Software, Inc		222,506
2,377		TAL International Group, Inc		70,621
2,618	*	Taleo Corp (Class A)		58,984
1,098	*	TechTarget, Inc		14,109
6,386	*	TeleTech Holdings, Inc		207,417
3,922	e	TheStreet.com, Inc		42,671
10,218	*	THQ, Inc		311,853
31,867	*	TIBCO Software, Inc		288,396
918	*e	Tiens Biotech Group USA, Inc		3,516
3,400	e	TNS, Inc		48,994
4,878	*	TradeStation Group, Inc		56,829
5,674	*	Transaction Systems Architects, Inc		190,987
1,073	*e	Travelzoo, Inc		28,531
7,081	*	Trizetto Group, Inc		137,088
3,537	*e	Ultimate Software Group, Inc		102,325
1,400	*	Unica Corp		23,100
10,196		United Online, Inc		168,132
4,617	*	Universal Compression Holdings, Inc		334,594
15,254	*	Valueclick, Inc		449,383
3,823	*e	Vasco Data Security International		87,011
1,293	*	Veraz Networks, Inc		8,430
1,080	*	Vertrue, Inc		52,682
3,279		Viad Corp		138,275
4,361	*	Vignette Corp		83,557
2,913	*	Visual Sciences, Inc		45,064
1,850	*	Vocus, Inc		46,454

267

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,363	*	Volt Information Sciences, Inc	$	43,574
6,980	*	Websense, Inc		148,325
11,728	*	Wind River Systems, Inc		129,008
		TOTAL BUSINESS SERVICES		24,017,759
CHEMICALS AND ALLIED PRODUCTS - 6.64%
4,422	*e	Acadia Pharmaceuticals, Inc		60,449
3,031	*e	Acorda Therapeutics, Inc		51,709
5,436	*e	Adams Respiratory Therapeutics, Inc		214,124
2,170	*e	Advanced Magnetics, Inc		126,207
3,849	*	Albany Molecular Research, Inc		57,158
5,597	*e	Alexion Pharmaceuticals, Inc		252,201
2,897	*	Alexza Pharmaceuticals, Inc		23,958
15,361	*	Alkermes, Inc		224,271
5,964	*	Allos Therapeutics, Inc		26,361
4,636	*e	Alnylam Pharmaceuticals, Inc		70,421
6,430	*	Alpharma, Inc (Class A)		167,244
6,806	*e	American Oriental Bioengineering, Inc		60,573
3,154	e	American Vanguard Corp		45,165
714	*	Amicus Therapeutics, Inc		8,211
1,510	*	Animal Health International, Inc		21,880
3,711		Arch Chemicals, Inc		130,405
8,786	*e	Arena Pharmaceuticals, Inc		96,558
4,662	*e	Arqule, Inc		32,867
6,710	*e	Array Biopharma, Inc		78,306
6,913	*e	Arrowhead Research Corp		34,772
3,967	*	Auxilium Pharmaceuticals, Inc		63,234
4,627	*e	Aventine Renewable Energy Holdings, Inc		78,520
2,753		Balchem Corp		50,022
2,749	*	Bentley Pharmaceuticals, Inc		33,373
715	*	Biodel, Inc		14,157
7,858	*	Bioenvision, Inc		45,419
14,641	*e	BioMarin Pharmaceuticals, Inc		262,660
1,531	*	BioMimetic Therapeutics, Inc		23,930
9,168	*	Bionovo, Inc		35,388
1,989	*e	Bradley Pharmaceuticals, Inc		43,181
2,308	*e	Cadence Pharmaceuticals, Inc		27,996
5,841	*e	Calgon Carbon Corp		67,756
4,276		Cambrex Corp		56,743
1,725	*	Caraco Pharmaceutical Laboratories Ltd		26,186
13,646	*e	Cell Genesys, Inc		45,714
8,457		CF Industries Holdings, Inc		506,490
2,592	*e	Chattem, Inc		164,281
8,532	*e	Cubist Pharmaceuticals, Inc		168,166
4,956	*e	Cypress Bioscience, Inc		65,717
6,459	*e	Cytokinetics, Inc		36,493
12,294	*	CytRx Corp		38,357
12,384	*e	Dendreon Corp		87,679
3,266	*	Digene Corp		196,123
15,867	*	Discovery Laboratories, Inc		44,904
12,638	*e	Durect Corp		48,656
3,482	*	Elizabeth Arden, Inc		84,473
770	*e	Emergent Biosolutions, Inc		7,931
14,783	*	Encysive Pharmaceuticals, Inc		26,314

268

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,810	*	Enzon Pharmaceuticals, Inc	$	53,459
6,625		Ferro Corp		165,161
9,458	*	GenVec, Inc		22,226
4,911	e	Georgia Gulf Corp		88,938
11,084	*e	Geron Corp		78,031
2,181	*e	GTx, Inc		35,310
9,270		H.B. Fuller Co		277,080
10,413	*	Halozyme Therapeutics, Inc		96,112
17,816	*	Hercules, Inc		350,084
20,517	*e	Human Genome Sciences, Inc		183,012
3,291	*e	Idenix Pharmaceuticals, Inc		19,417
10,525	*	Immucor, Inc		294,384
8,703	*e	Indevus Pharmaceuticals, Inc		58,571
2,965	e	Innophos Holdings, Inc		42,400
1,782		Innospec, Inc		105,512
1,228		Inter Parfums, Inc		32,689
3,934	*e	InterMune, Inc		102,048
7,120	*e	Inverness Medical Innovations, Inc		363,262
6,069	*e	Javelin Pharmaceuticals, Inc		37,567
2,308		Kaiser Aluminum Corp		168,207
6,207	*	Keryx Biopharmaceuticals, Inc		60,642
2,808		Koppers Holdings, Inc		94,573
417	e	Kronos Worldwide, Inc		10,529
5,459	*	KV Pharmaceutical Co (Class A)		148,703
3,087	*	Landec Corp		41,366
12,875	e	Ligand Pharmaceuticals, Inc (Class B)		88,580
2,535	e	Mannatech, Inc		40,281
5,954	*e	MannKind Corp		73,413
4,646	*e	Martek Biosciences Corp		120,657
19,246	*e	Medarex, Inc		275,025
7,582	*	Medicines Co		133,595
8,533	e	Medicis Pharmaceutical Corp (Class A)		260,598
3,046	*	Medivation, Inc		62,230
6,191		Meridian Bioscience, Inc		134,097
12,184	*	MGI Pharma, Inc		272,556
2,915	e	Minerals Technologies, Inc		195,159
8,684	*	Minrad International, Inc		51,496
830	*e	Molecular Insight Pharmaceuticals, Inc		7,835
3,428	*e	Momenta Pharmaceuticals, Inc		34,554
7,756	*e	Nabi Biopharmaceuticals		35,678
3,563	*e	Nastech Pharmaceutical Co, Inc		38,872
5,443	*e	Neurocrine Biosciences, Inc		61,125
2,413	e	NewMarket Corp		116,717
1,246	e	NL Industries, Inc		12,485
943	*	Novacea, Inc		8,911
3,892	*e	Noven Pharmaceuticals, Inc		91,267
790	*e	Obagi Medical Products, Inc		13,999
11,268		Olin Corp		236,628
4,556	*	OM Group, Inc		241,104
1,956	*e	Omrix Biopharmaceuticals, Inc		61,536
7,049	*e	Onyx Pharmaceuticals, Inc		189,618
6,136	*e	OraSure Technologies, Inc		50,192
1,041	*	Orexigen Therapeutics, Inc		15,636
8,806	*	OSI Pharmaceuticals, Inc		318,865

269

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,594	*e	Osiris Therapeutics, Inc	$	35,045
5,079	*e	Pacific Ethanol, Inc		67,043
5,895	*e	Pain Therapeutics, Inc		51,345
5,300	*	Par Pharmaceutical Cos, Inc		149,619
4,247	*	Parexel International Corp		178,629
3,206	*e	Penwest Pharmaceuticals Co		39,979
11,742		Perrigo Co		229,908
3,051	*	PetMed Express, Inc		39,175
4,105	*	Pharmion Corp		118,840
1,691	*e	Pioneer Cos, Inc		58,120
13,276	*	PolyOne Corp		95,454
5,000	*e	Poniard Pharmaceuticals, Inc		34,000
3,641	*e	Pozen, Inc		65,793
5,081	*	Prestige Brands Holdings, Inc		65,951
3,704	*	Progenics Pharmaceuticals, Inc		79,895
4,593	*	Protalix BioTherapeutics, Inc		123,965
4,123	*e	Quidel Corp		72,400
31,604	*e	Revlon, Inc (Class A)		43,297
5,355	*	Rockwood Holdings, Inc		195,725
7,502	*e	Salix Pharmaceuticals Ltd		92,275
9,181	*e	Santarus, Inc		47,466
5,390	*e	Sciele Pharma, Inc		126,988
7,182		Sensient Technologies Corp		182,351
2,360	*	Somaxon Pharmaceuticals, Inc		28,698
1,007		Stepan Co		30,492
7,631	*e	SuperGen, Inc		42,428
2,483	*e	SurModics, Inc		124,150
714	*	Synta Pharmaceuticals Corp		5,926
3,716	*e	Tanox, Inc		72,128
6,865	*	Tercica, Inc		35,012
6,632		Tronox, Inc (Class B)		93,180
1,240	*e	Trubion Pharmaceuticals, Inc		25,891
7,859		UAP Holding Corp		236,870
3,177	*	United Therapeutics Corp		202,566
1,470	*e	US BioEnergy Corp		16,699
1,252	*e	USANA Health Sciences, Inc		56,014
13,360	*	USEC, Inc		293,653
14,517		Valeant Pharmaceuticals International		242,289
4,325	*e	Vanda Pharmaceuticals, Inc		87,625
4,570	*e	Verasun Energy Corp		66,174
10,805	*	Viropharma, Inc		149,109
3,387	*e	Visicu, Inc		30,991
10,706	*e	WR Grace & Co		262,190
3,347	*e	Xenoport, Inc		148,674
18,802	*	XOMA Ltd		57,158
5,386	*e	Zymogenetics, Inc		78,689
		TOTAL CHEMICALS AND ALLIED PRODUCTS		14,884,564
COAL MINING - 0.14%
10,014	*	Alpha Natural Resources, Inc		208,191
19,418	*e	International Coal Group, Inc		116,119
		TOTAL COAL MINING		324,310

270

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
COMMUNICATIONS - 2.83%
6,179	e	Alaska Communications Systems Group, Inc	$	97,875
4,720	*	Anixter International, Inc		354,991
1,137	*e	Aruba Networks, Inc		22,854
1,344		Atlantic Tele-Network, Inc		38,492
2,540	*	Audiovox Corp (Class A)		32,944
3,996	*	Authorize.Net Holdings, Inc		71,488
8,061	*e	Brightpoint, Inc		111,161
3,247	*	Cbeyond Communications, Inc		125,042
3,211	*e	Centennial Communications Corp		30,472
62,458	*e	Charter Communications, Inc (Class A)		252,955
37,850	*	Cincinnati Bell, Inc		218,773
27,840	e	Citadel Broadcasting Corp		179,568
2,902	e	Consolidated Communications Holdings, Inc		65,585
4,747	*	Cox Radio, Inc (Class A)		67,597
2,322	*e	Crown Media Holdings, Inc (Class A)		16,718
3,205		CT Communications, Inc		97,785
4,054	*e	Cumulus Media, Inc (Class A)		37,905
2,419	*	DG FastChannel,Inc		49,299
22,337	*e	Dobson Communications Corp (Class A)		248,164
4,543	e	Emmis Communications Corp (Class A)		41,841
4,821	e	Entercom Communications Corp (Class A)		119,995
10,198	*	Entravision Communications Corp (Class A)		106,365
1,821	*	Eschelon Telecom, Inc		53,902
5,601	e	Fairpoint Communications, Inc		99,418
17,247	*e	FiberTower Corp		74,680
1,113	*e	Fisher Communications, Inc		56,529
22,261	*	Foundry Networks, Inc		370,868
7,682	*	General Communication, Inc (Class A)		98,406
3,008	*	GeoEye, Inc		65,364
4,020	*e	Global Crossing Ltd		75,898
3,460	*e	Globalstar, Inc		35,811
2,455		Golden Telecom, Inc		135,050
5,977		Gray Television, Inc		55,407
4,154	*	Harris Stratex Networks, Inc (Class A)		74,689
918	*	Hughes Communications, Inc		47,901
514	*	Hungarian Telephone & Cable		10,285
4,736	*	Ibasis, Inc		47,597
14,685	*	ICO Global Communications Holdings Ltd		51,104
7,068	e	IDT Corp (Class B)		72,942
5,613	*e	InPhonic, Inc		26,157
4,527	e	Iowa Telecommunications Services, Inc		102,899
2,753		iPCS, Inc		93,244
7,544	*	j2 Global Communications, Inc		263,285
3,717	*e	Knology, Inc		64,564
4,040	*e	Lin TV Corp (Class A)		75,992
3,572	*e	Lodgenet Entertainment Corp		114,518
6,060	*e	Mastec, Inc		95,869
7,743	*	Mediacom Communications Corp (Class A)		75,030
1,504	*	Nexstar Broadcasting Group, Inc (Class A)		19,763
3,871	*e	Nextwave Wireless, Inc		32,323
2,667	e	North Pittsburgh Systems, Inc		56,674
4,857	*	Novatel Wireless, Inc		126,379
3,962		NTELOS Holdings Corp		109,510
3,745	*	Orbcomm, Inc		61,455

271

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
10,840	*e	PAETEC Holding Corp	$	122,384
353	e	Preformed Line Products Co		16,947
11,146	*	Radio One, Inc (Class D)		78,691
4,409		RCN Corp		82,845
2,001	*	Rural Cellular Corp (Class A)		87,664
2,281		Salem Communications Corp (Class A)		25,296
4,195	*e	SAVVIS, Inc		207,694
1,179	e	Shenandoah Telecom Co		59,928
7,084	e	Sinclair Broadcast Group, Inc (Class A)		100,734
8,253	*e	Spanish Broadcasting System, Inc (Class A)		35,488
2,183	e	SureWest Communications		59,465
1,680	*e	Switch & Data Facilities Co, Inc		32,239
3,642	*	Syniverse Holdings, Inc		46,836
6,877	*e	Terremark Worldwide, Inc		44,357
15,847	*e	TiVo, Inc		91,754
3,318		USA Mobility, Inc		88,790
9,232	*e	Vonage Holdings Corp		28,711
		TOTAL COMMUNICATIONS		6,341,205
DEPOSITORY INSTITUTIONS - 7.60%
1,816		1st Source Corp		45,255
1,232		Abington Bancorp, Inc		11,766
2,620	e	Alabama National Bancorp		162,021
3,528		Amcore Financial, Inc		102,277
2,454		AmericanWest Bancorp		44,736
1,997	e	Ameris Bancorp		44,873
2,875	e	Anchor Bancorp Wisconsin, Inc		75,296
1,139		Bancfirst Corp		48,772
4,475		Banco Latinoamericano de Exportaciones S.A.		84,130
2,010	*e	Bancorp, Inc		44,944
7,926		Bank Mutual Corp		91,387
2,067	e	Bank of the Ozarks, Inc		57,607
6,561		BankAtlantic Bancorp, Inc (Class A)		56,490
4,040	e	BankFinancial Corp		62,418
5,035	e	BankUnited Financial Corp (Class A)		101,052
1,857		Banner Corp		63,249
1,310		Berkshire Hills Bancorp, Inc		41,278
5,656	e	Boston Private Financial Holdings, Inc		151,977
9,783	e	Brookline Bancorp, Inc		112,602
1,858	e	Capital City Bank Group, Inc		58,230
1,532	e	Capital Corp of the West		36,707
2,177	e	Capitol Bancorp Ltd		59,497
3,218		Cascade Bancorp		74,465
1,120	e	Cass Information Systems, Inc		40,611
7,818	e	Cathay General Bancorp		262,216
9,014	*e	Centennial Bank Holdings, Inc		76,349
1,574		Center Financial Corp		26,632
4,792		Central Pacific Financial Corp		158,184
3,549	e	Chemical Financial Corp		91,813
7,045		Chittenden Corp		246,223
11,570	e	Citizens Banking Corp		211,731
2,184	e	City Bank		68,818
2,555		City Holding Co		97,933
2,707	e	Clifton Savings Bancorp, Inc		29,344

272

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,641	e	CoBiz, Inc	$	47,855
2,362		Columbia Banking System, Inc		69,089
1,888	*e	Community Bancorp		52,826
4,294	e	Community Bank System, Inc		85,966
3,778	e	Community Banks, Inc		121,727
2,166	e	Community Trust Bancorp, Inc		69,962
5,920	e	Corus Bankshares, Inc		102,179
9,494		CVB Financial Corp		105,573
3,706		Dime Community Bancshares		48,882
2,292	*e	Dollar Financial Corp		65,322
3,224	e	Downey Financial Corp		212,720
1,455	e	Enterprise Financial Services Corp		36,171
7,006	*e	Euronet Worldwide, Inc		204,295
1,736	e	First Bancorp		32,515
12,724		First Bancorp		139,837
2,269	e	First Busey Corp		45,357
5,367		First Charter Corp		104,495
11,305	e	First Commonwealth Financial Corp		123,451
3,954		First Community Bancorp, Inc		226,208
1,552		First Community Bancshares, Inc		48,407
4,924	e	First Financial Bancorp		73,811
3,267	e	First Financial Bankshares, Inc		126,792
1,955	e	First Financial Corp		57,399
1,707	e	First Financial Holdings, Inc		55,836
1,682		First Indiana Corp		37,206
2,619		First Merchants Corp		62,935
7,593	e	First Midwest Bancorp, Inc		269,627
16,458		First Niagara Financial Group, Inc		215,600
2,555		First Place Financial Corp		53,962
1,195	*	First Regional Bancorp		30,401
4,755		First Republic Bank		255,153
1,625	e	First South Bancorp, Inc		43,713
2,972		First State Bancorporation		63,274
2,436	*e	FirstFed Financial Corp		138,194
12,294	e	FirstMerit Corp		257,313
6,273	e	Flagstar Bancorp, Inc		75,590
3,009		Flushing Financial Corp		48,325
9,288	e	FNB Corp		155,481
3,361	*e	Franklin Bank Corp		50,079
10,644	e	Fremont General Corp		114,529
6,100	e	Frontier Financial Corp		137,433
8,048	e	Glacier Bancorp, Inc		163,777
1,518	e	Great Southern Bancorp, Inc		41,062
7,808		Greater Bay Bancorp		217,375
1,242	e	Greene County Bancshares, Inc		38,825
4,134		Hancock Holding Co		155,232
5,879		Hanmi Financial Corp		100,296
4,157	e	Harleysville National Corp		67,011
1,816	e	Heartland Financial USA, Inc		44,129
1,788		Heritage Commerce Corp		42,340
1,644	e	Home Bancshares, Inc		37,072
2,291		Horizon Financial Corp		49,921
1,890		IBERIABANK Corp		93,461
2,177		Independent Bank Corp		64,309

273

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,340		Independent Bank Corp	$	57,481
2,965		Integra Bank Corp		63,659
7,825		International Bancshares Corp		200,477
7,320	*	Investors Bancorp, Inc		98,308
2,907		Irwin Financial Corp		43,518
872		ITLA Capital Corp		45,449
3,061	e	Kearny Financial Corp		41,262
700		K-Fed Bancorp		10,983
4,696	e	KNBT Bancorp, Inc		69,031
2,730	e	Lakeland Bancorp, Inc		36,309
1,725	e	Lakeland Financial Corp		36,691
2,788	e	Macatawa Bank Corp		44,357
5,034		MAF Bancorp, Inc		273,145
2,858	e	MainSource Financial Group, Inc		47,986
5,569	e	MB Financial, Inc		193,467
2,787	e	Midwest Banc Holdings, Inc		40,412
3,048	e	Nara Bancorp, Inc		48,555
596	e	NASB Financial, Inc		20,055
6,954	e	National Penn Bancshares, Inc		115,993
5,016		NBT Bancorp, Inc		113,161
6,463	*e	Net 1 UEPS Technologies, Inc		156,081
8,669	*e	NetBank, Inc		2,687
17,338	e	NewAlliance Bancshares, Inc		255,215
3,034	e	Northwest Bancorp, Inc		79,309
10,143	e	Old National Bancorp		168,475
2,255	e	Old Second Bancorp, Inc		65,756
2,281	e	Omega Financial Corp		61,336
3,286		Oriental Financial Group, Inc		35,850
1,590	*e	Oritani Financial Corp		22,721
7,178		Pacific Capital Bancorp		193,662
1,876	e	Park National Corp		159,066
6,466		Partners Trust Financial Group, Inc		67,893
1,591		Peoples Bancorp, Inc		43,068
3,564		PFF Bancorp, Inc		99,543
2,330	*e	Pinnacle Financial Partners, Inc		68,409
1,597		Preferred Bank		63,880
95	e	Premierwest Bancorp		1,284
2,720	e	PrivateBancorp, Inc		78,336
5,421	e	Prosperity Bancshares, Inc		177,592
4,923		Provident Bankshares Corp		161,376
10,175	e	Provident Financial Services, Inc		160,358
6,061		Provident New York Bancorp		81,884
854	e	QC Holdings, Inc		12,810
2,564	e	Renasant Corp		58,305
1,736	e	Republic Bancorp, Inc (Class A)		28,800
1,149	e	Rockville Financial, Inc		17,350
1,425	e	Roma Financial Corp		23,612
723	e	Royal Bancshares of Pennsylvania (Class A)		14,250
3,886		S&T Bancorp, Inc		127,849
1,757	e	S.Y. Bancorp, Inc		41,746
2,379	e	Sandy Spring Bancorp, Inc		74,796
541		Santander BanCorp		8,039
1,381		SCBT Financial Corp		50,268
2,324	e	Seacoast Banking Corp of Florida		50,547

274

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,474	e	Security Bank Corp	$	49,727
1,243	e	Sierra Bancorp		35,053
4,586	*	Signature Bank		156,383
2,032		Simmons First National Corp (Class A)		56,063
11,327	e	South Financial Group, Inc		256,443
1,740	e	Southside Bancshares, Inc		37,793
2,135		Southwest Bancorp, Inc		51,325
2,921		Sterling Bancorp		46,824
11,604		Sterling Bancshares, Inc		131,241
4,648	*e	Sterling Financial Corp		48,897
7,833		Sterling Financial Corp		226,687
1,436	e	Suffolk Bancorp		45,837
1,958	*	Sun Bancorp, Inc		33,031
5,661	*e	Superior Bancorp		57,912
7,962	e	Susquehanna Bancshares, Inc		178,110
5,234	*e	SVB Financial Group		277,978
749		Taylor Capital Group, Inc		20,620
3,718	*	Texas Capital Bancshares, Inc		83,097
2,590		TierOne Corp		77,959
941	e	Tompkins Trustco, Inc		35,193
2,179	e	Trico Bancshares		48,722
10,675	e	Trustco Bank Corp NY		105,469
7,475		Trustmark Corp		193,304
15,264	e	UCBH Holdings, Inc		278,873
4,724		UMB Financial Corp		174,174
9,356	e	Umpqua Holdings Corp		219,960
1,991	e	Union Bankshares Corp		46,191
5,489	e	United Bankshares, Inc		174,550
5,688	e	United Community Banks, Inc		147,262
4,149	e	United Community Financial Corp		41,407
1,204	e	United Security Bancshares		24,538
2,288	e	Univest Corp of Pennsylvania		51,526
1,617	e	USB Holding Co, Inc		30,820
1,720		ViewPoint Financial Group		29,601
79	e	Vineyard National Bancorp		1,815
2,576	*e	Virginia Commerce Bancorp		43,560
15,651	e	W Holding Co, Inc		41,319
2,082		Washington Trust Bancorp, Inc		52,487
1,389	*e	Wauwatosa Holdings, Inc		22,974
3,150		WesBanco, Inc		92,925
2,246		West Coast Bancorp		68,256
4,587	e	Westamerica Bancorporation		202,929
2,366	*e	Western Alliance Bancorp		70,625
1,676		Westfield Financial, Inc		16,710
2,516		Wilshire Bancorp, Inc		30,645
3,687	e	Wintrust Financial Corp		161,675
1,041		WSFS Financial Corp		68,113
1,497	e	Yardville National Bancorp		51,123
		TOTAL DEPOSITORY INSTITUTIONS		17,031,361
EATING AND DRINKING PLACES - 1.80%
4,804	*	AFC Enterprises		83,061
11,408		Applebees International, Inc		274,933
2,306	*	Benihana, Inc (Class A)		46,120

275

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,311	*e	BJ's Restaurants, Inc	$	45,619
5,469		Bob Evans Farms, Inc		201,533
2,438	*e	Buffalo Wild Wings, Inc		101,396
4,179	*	California Pizza Kitchen, Inc		89,765
1,990	*e	Carrols Restaurant Group, Inc		30,348
3,788		CBRL Group, Inc		160,914
4,137	*	CEC Entertainment, Inc		145,622
5,006	*e	Chipotle Mexican Grill, Inc (Class B)		393,622
9,631		CKE Restaurants, Inc		193,294
15,693	*	Denny's Corp		69,834
6,631	e	Domino's Pizza, Inc		121,148
2,724	e	IHOP Corp		148,267
4,780	*	Jack in the Box, Inc		339,093
10,460	*e	Krispy Kreme Doughnuts, Inc		96,860
2,435	e	Landry's Restaurants, Inc		73,683
2,531	*	McCormick & Schmick's Seafood Restaurants, Inc		65,654
1,988	*	Morton's Restaurant Group, Inc		36,003
3,400		O'Charleys, Inc		68,544
3,095	*	Papa John's International, Inc		89,012
3,735	*e	PF Chang's China Bistro, Inc		131,472
4,421	*	Rare Hospitality International, Inc		118,350
2,362	*e	Red Robin Gourmet Burgers, Inc		95,354
8,293	e	Ruby Tuesday, Inc		218,355
2,744	*e	Ruth's Chris Steak House, Inc		46,621
10,196	*e	Sonic Corp		225,536
4,556	*e	Steak N Shake Co		76,040
7,587	*e	Texas Roadhouse, Inc (Class A)		97,038
9,691		Triarc Cos (Class B)		152,149
		TOTAL EATING AND DRINKING PLACES		4,035,240
EDUCATIONAL SERVICES - 0.42%
13,242	*e	Corinthian Colleges, Inc		215,712
9,159		DeVry, Inc		311,589
1,457	*	Lincoln Educational Services Corp		21,651
2,214		Strayer Education, Inc		291,606
3,563	*e	Universal Technical Institute, Inc		90,465
		TOTAL EDUCATIONAL SERVICES		931,023
ELECTRIC, GAS, AND SANITARY SERVICES - 3.12%
3,911		Allete, Inc		184,013
2,420		American Ecology Corp		51,836
2,459	e	American States Water Co		87,467
57,265	*	Aquila, Inc		234,214
8,062		Avista Corp		173,736
5,748	e	Black Hills Corp		228,483
2,888	e	California Water Service Group		108,271
1,723		Cascade Natural Gas Corp		45,504
3,827	*	Casella Waste Systems, Inc (Class A)		41,255
1,444	e	Central Vermont Public Service Corp		54,410
2,500	e	CH Energy Group, Inc		112,425
2,346	*	Clean Energy Fuels Corp		29,466
2,597	*e	Clean Harbors, Inc		128,344
9,118		Cleco Corp		223,391
2,051		Consolidated Water Co, Inc		60,115

276

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,636	e	Crosstex Energy, Inc	$	161,922
6,997	*	El Paso Electric Co		171,846
4,219		Empire District Electric Co		94,379
1,013	e	EnergySouth, Inc		51,663
534	*	EnerNOC, Inc		20,361
6,720	e	Idacorp, Inc		215,309
6,422		ITC Holdings Corp		260,926
3,390		Laclede Group, Inc		108,073
920		Markwest Hydrocarbon, Inc		52,836
3,907		Metal Management, Inc		172,181
3,110	e	MGE Energy, Inc		101,604
4,277	e	New Jersey Resources Corp		218,213
6,878	e	Nicor, Inc		295,204
4,123	e	Northwest Natural Gas Co		190,441
5,487		NorthWestern Corp		174,541
1,919	e	Ormat Technologies, Inc		72,308
4,278	e	Otter Tail Corp		137,195
2,176	*e	Pico Holdings, Inc		94,134
11,401		Piedmont Natural Gas Co, Inc		281,035
2,561	*e	Pike Electric Corp		57,315
11,719		PNM Resources, Inc		325,671
4,657	e	Portland General Electric Co		127,788
1,891	e	Resource America, Inc (Class A)		38,974
5,047	*e	SEMCO Energy, Inc		39,215
2,224	e	SJW Corp		74,059
4,648	e	South Jersey Industries, Inc		164,446
6,443		Southwest Gas Corp		217,838
3,436	e	Southwest Water Co		43,878
68	b,m,v*	Touch America Holdings, Inc		-
3,931		UIL Holdings Corp		130,116
5,386		Unisource Energy Corp		177,146
10,496	*	Waste Connections, Inc		317,399
722		Waste Industries USA, Inc		24,649
2,776	*	Waste Services, Inc		33,728
13,576		Westar Energy, Inc		329,625
7,518		WGL Holdings, Inc		245,388
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		6,984,336
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 7.28%
3,153	*e	Acme Packet, Inc		36,228
3,705	*	Actel Corp		51,537
6,632		Acuity Brands, Inc		399,777
18,732	*	Adaptec, Inc		71,369
9,002		Adtran, Inc		233,782
6,628	*	Advanced Analogic Technologies, Inc		64,292
5,204	*	Advanced Energy Industries, Inc		117,923
10,958	*	Aeroflex, Inc		155,275
5,551	*e	American Superconductor Corp		107,190
9,543	*	AMIS Holdings, Inc		119,478
15,985	*	Amkor Technology, Inc		251,764
9,233	*e	Anadigics, Inc		127,323
23,793	*	Andrew Corp		343,571
40,864	*e	Applied Micro Circuits Corp		102,160
16,655	*	Arris Group, Inc		292,961

277

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
8,441	*e	Atheros Communications, Inc	$	260,320
5,335	*	ATMI, Inc		160,050
32,085	*e	Avanex Corp		57,753
1,628	*	AZZ, Inc		54,782
6,994		Baldor Electric Co		344,664
1,697	e	Bel Fuse, Inc (Class B)		57,749
11,148	*	Benchmark Electronics, Inc		252,168
1,760	*e	BigBand Networks, Inc		23,074
7,339	*	C-COR, Inc		103,186
4,153	*e	Ceradyne, Inc		307,156
6,102	*	Checkpoint Systems, Inc		154,076
16	m,v*	China Energy Savings Technology, Inc		1
2,521	*e	Color Kinetics, Inc		84,227
3,536	*	Comtech Telecommunications Corp		164,141
77,167	*e	Conexant Systems, Inc		106,490
1,346	*	CPI International, Inc		26,691
5,728	e	CTS Corp		72,516
2,394		Cubic Corp		72,251
3,115	*e	Diodes, Inc		130,114
5,321	*	Ditech Networks, Inc		43,579
4,273	*	DSP Group, Inc		87,468
2,617	*e	DTS, Inc		56,972
4,191	*	Electro Scientific Industries, Inc		87,173
2,199	*	EMS Technologies, Inc		48,510
5,914	*e	Energy Conversion Devices, Inc		182,269
3,054	*	EnerSys		55,888
14,765	*e	Evergreen Solar, Inc		137,315
5,143	*	Exar Corp		68,916
41,238	*e	Finisar Corp		155,880
3,019	e	Franklin Electric Co, Inc		142,436
9,459	*e	FuelCell Energy, Inc		74,915
38,613	*	Gemstar-TV Guide International, Inc		189,976
4,343	*	Genlyte Group, Inc		341,099
15,179	*	GrafTech International Ltd		255,614
3,548	*	Greatbatch, Inc		114,955
11,956	*e	Harmonic, Inc		106,050
4,715	*	Helen of Troy Ltd		127,305
14,406	*e	Hexcel Corp		303,534
2,607	*e	Hittite Microwave Corp		111,397
3,694	*e	Hutchinson Technology, Inc		69,484
5,374		Imation Corp		198,086
7,167	*e	Interdigital Communications Corp		230,562
3,039		Inter-Tel, Inc		72,723
6,072	*e	InterVoice, Inc		50,580
1,360	*	IPG Photonics Corp		27,132
2,194	*e	iRobot Corp		43,551
4,946	*e	IXYS Corp		41,299
12,473	*	Kemet Corp		87,935
2,121	*e	Lamson & Sessions Co		56,355
16,437	*	Lattice Semiconductor Corp		94,020
3,188	*	Littelfuse, Inc		107,659
1,701	*	Loral Space & Communications, Inc		83,825
2,632		LSI Industries, Inc		47,113
7,866	*	Mattson Technology, Inc		76,300

278

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,458	*e	Medis Technologies Ltd	$	50,798
3,353	*	Mercury Computer Systems, Inc		40,907
5,256		Methode Electronics, Inc		82,256
8,024		Micrel, Inc		102,065
11,656	*e	Microsemi Corp		279,161
9,109	*	Microtune, Inc		47,640
6,355	*	MIPS Technologies, Inc		55,860
3,386	*e	Monolithic Power Systems, Inc		59,086
5,789	*	Moog, Inc (Class A)		255,353
19,205	*e	MRV Communications, Inc		62,416
1,701	*	Multi-Fineline Electronix, Inc		29,189
639		National Presto Industries, Inc		39,835
2,667	*e	Netlogic Microsystems, Inc		84,917
8,270	*e	Omnivision Technologies, Inc		149,770
37,096	*	ON Semiconductor Corp		397,669
19,017	*e	On2 Technologies, Inc		57,051
13,953	e	Openwave Systems, Inc		87,346
3,930	*	Oplink Communications, Inc		58,950
2,620	*	OpNext, Inc		34,689
1,748	*e	Optium Corp		22,112
2,162	*e	OSI Systems, Inc		59,131
2,932		Park Electrochemical Corp		82,624
4,018	*	Pericom Semiconductor Corp		44,841
5,947	*	Photronics, Inc		88,491
7,345		Plantronics, Inc		192,586
7,217	*	Plexus Corp		165,919
4,093	*	PLX Technology, Inc		45,678
32,656	*e	PMC - Sierra, Inc		252,431
14,012	*	Polycom, Inc		470,803
1,114	*	Powell Industries, Inc		35,381
13,081	*e	Power-One, Inc		52,062
19,027	*e	Powerwave Technologies, Inc		127,481
2,316	e	Raven Industries, Inc		82,704
4,885		Regal-Beloit Corp		227,348
29,061	*e	RF Micro Devices, Inc		181,341
2,564	*e	Rogers Corp		94,868
4,205	*	Seachange International, Inc		32,631
11,096	*	Semtech Corp		192,294
13,144	*	Silicon Image, Inc		112,776
12,892	*e	Silicon Storage Technology, Inc		48,087
5,615	*e	Sirenza Microdevices, Inc		66,650
25,021	*	Skyworks Solutions, Inc		183,904
7,861	*	Smart Modular Technologies WWH, Inc		108,167
13,749	*	Spansion, Inc (Class A)		152,614
5,349	*e	Spectrum Brands, Inc		36,213
3,538	*	Standard Microsystems Corp		121,495
2,904	*	Stoneridge, Inc		35,835
1,647	*e	Supertex, Inc		51,617
25,700	*	Sycamore Networks, Inc		103,314
7,183	*	Symmetricom, Inc		60,337
3,919	*e	Synaptics, Inc		140,261
8,016	*	Syntax-Brillian Corp		39,439
6,282		Technitrol, Inc		180,105
2,935	*e	Techwell, Inc		38,449

279

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,519	*	Tekelec	$	137,264
7,316	*	Tessera Technologies, Inc		296,664
8,908	*	Trident Microsystems, Inc		163,462
19,872	*	Triquint Semiconductor, Inc		100,552
6,743	*	TTM Technologies, Inc		87,659
2,663	*	Ultra Clean Holdings		37,229
3,764	*e	Universal Display Corp		59,132
2,106	*	Universal Electronics, Inc		76,490
15,350	*e	Utstarcom, Inc		86,114
3,534	*	Viasat, Inc		113,441
3,309	e	Vicor Corp		43,778
3,023	*e	Volterra Semiconductor Corp		42,927
3,326	*	Zoltek Cos, Inc		138,129
7,418	*	Zoran Corp		148,657
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		16,320,359
ENGINEERING AND MANAGEMENT SERVICES - 2.41%
2,680	*	Advisory Board Co		148,901
6,148	*	Aecom Technology Corp		152,532
540	*	Affymax, Inc		14,558
12,047	*	Applera Corp (Celera Genomics Group)		149,383
9,306	*e	Ariad Pharmaceuticals, Inc		51,090
1,964	e	CDI Corp		63,241
1,705	*e	Cornell Cos, Inc		41,875
1,646	*e	CRA International, Inc		79,337
9,401	*e	CV Therapeutics, Inc		124,187
4,311	e	Diamond Management & Technology Consultants, Inc		56,905
5,621	*	eResearch Technology, Inc		53,456
14,793	*	Exelixis, Inc		178,995
2,124	*	Exponent, Inc		47,514
3,099	*	Greenfield Online, Inc		49,305
8,204	*	Harris Interactive, Inc		43,891
2,842	*	Huron Consulting Group, Inc		207,494
12,067	*e	Incyte Corp		72,402
6,180	*	Infrasource Services, Inc		229,278
11,920	*	Isis Pharmaceuticals, Inc		115,386
1,826	*	Kendle International, Inc		67,142
8,242	*	Kosan Biosciences, Inc		43,023
1,490		Landauer, Inc		73,383
3,749	*	LECG Corp		56,647
5,272	*	Lifecell Corp		161,007
5,115	*e	Luminex Corp		62,966
3,367		MAXIMUS, Inc		146,060
3,492	*	Maxygen, Inc		29,926
1,031	*	Michael Baker Corp		38,302
1,431	*e	MTC Technologies, Inc		35,145
6,579	*e	Myriad Genetics, Inc		244,673
8,873	*e	Navigant Consulting, Inc		164,683
6,208	*	Neurogen Corp		41,221
4,801	*	Omnicell, Inc		99,765
2,740	*	PharmaNet Development Group, Inc		87,351
4,251	*	Regeneration Technologies, Inc		47,824
9,728	*	Regeneron Pharmaceuticals, Inc		174,326
27,535	*e	Rentech, Inc		71,316

280

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,488	*	Resources Connection, Inc	$	248,452
5,552	*e	Rigel Pharmaceuticals, Inc		49,468
15,107	*e	SAIC, Inc		272,983
7,506	*	Savient Pharmaceuticals, Inc		93,225
5,958	*	Seattle Genetics, Inc		58,448
4,398	*e	Senomyx, Inc		59,373
1,142	*	Stanley, Inc		20,122
5,185	*	Symyx Technologies, Inc		59,679
1,670	*e	Tejon Ranch Co		73,814
10,312	*e	Telik, Inc		34,855
8,878	*	Tetra Tech, Inc		191,321
6,520	*e	Verenium Corp		33,056
4,456	*	Washington Group International, Inc		356,525
6,535		Watson Wyatt & Co Holdings (Class A)		329,887
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		5,405,698
ENVIRONMENTAL QUALITY AND HOUSING - 0.02%
6,128	*e	Home Solutions of America, Inc		36,645
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		36,645
FABRICATED METAL PRODUCTS - 1.30%
1,386	e	Ameron International Corp		125,003
10,572		Aptargroup, Inc		375,940
1,975	*	Chart Industries, Inc		56,169
2,437		CIRCOR International, Inc		98,528
3,652	*	Commercial Vehicle Group, Inc		68,037
814		Compx International, Inc		15,059
1,754	e	Dynamic Materials Corp		65,775
4,258	*	Griffon Corp		92,739
1,541		Gulf Island Fabrication, Inc		53,473
2,932	e	Insteel Industries, Inc		52,776
2,096	*	Ladish Co, Inc		90,128
2,104	e	Lifetime Brands, Inc		43,027
5,534	*	Mobile Mini, Inc		161,593
17,119	e	Mueller Water Products, Inc (Class A)		292,050
3,109	*e	NCI Building Systems, Inc		153,367
1,592	*	Park-Ohio Holdings Corp		43,462
2,158	*e	PGT, Inc		23,587
3,787		Silgan Holdings, Inc		209,345
5,409	e	Simpson Manufacturing Co, Inc		182,500
4,298	*e	Smith & Wesson Holding Corp		71,992
3,232	*	Sturm Ruger & Co, Inc		50,161
1,051	e	Sun Hydraulics Corp		51,762
9,132	*e	Taser International, Inc		127,483
1,883	*	Trimas Corp		22,747
2,836	e	Valmont Industries, Inc		206,347
4,797	e	Watts Water Technologies, Inc (Class A)		179,744
		TOTAL FABRICATED METAL PRODUCTS		2,912,794
FOOD AND KINDRED PRODUCTS - 0.97%
3,980	*	Altus Pharmaceuticals, Inc		45,929
1,523	*	American Dairy, Inc		28,419
1,304	*	Boston Beer Co, Inc (Class A)		51,312
1,078		Coca-Cola Bottling Co Consolidated		54,223

281

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
11,853	*	Darling International, Inc	$	108,336
1,402	e	Farmer Bros Co		31,727
7,815		Flowers Foods, Inc		260,708
1,761	e	Imperial Sugar Co		54,221
2,097		J&J Snack Foods Corp		79,141
3,811	*e	Jones Soda Co		53,430
3,477		Lancaster Colony Corp		145,652
4,823		Lance, Inc		113,630
1,905	*e	M&F Worldwide Corp		126,835
1,303	e	MGP Ingredients, Inc		22,021
1,353	e	National Beverage Corp		15,573
1,950	*e	Peet's Coffee & Tea, Inc		48,029
5,399	*	Performance Food Group Co		175,414
4,130	*	Ralcorp Holdings, Inc		220,749
3,093	e	Reddy Ice Holdings, Inc		88,212
2,439	e	Sanderson Farms, Inc		109,804
570	*	Synutra International, Inc		11,577
5,521	e	Tootsie Roll Industries, Inc		152,987
4,843		Topps Co, Inc		50,900
4,479	*	TreeHouse Foods, Inc		119,186
		TOTAL FOOD AND KINDRED PRODUCTS		2,168,015
FOOD STORES - 0.42%
143	e	Arden Group, Inc (Class A)		19,505
2,803	*e	Great Atlantic & Pacific Tea Co, Inc		94,013
2,050		Ingles Markets, Inc (Class A)		70,623
3,498	*e	Pantry, Inc		161,258
4,582	*	Pathmark Stores, Inc		59,383
6,278		Ruddick Corp		189,093
668		Village Super Market (Class A)		31,937
2,036		Weis Markets, Inc		82,478
4,257	*	Wild Oats Markets, Inc		71,347
5,227	*	Winn-Dixie Stores, Inc		153,151
		TOTAL FOOD STORES		932,788
FURNITURE AND FIXTURES - 0.71%
1,786	e	Cal-Maine Foods, Inc		29,255
4,099	e	Ethan Allen Interiors, Inc		140,391
7,608	e	Furniture Brands International, Inc		108,034
9,698		Herman Miller, Inc		306,457
1,733	e	Hooker Furniture Corp		38,889
8,082		Interface, Inc (Class A)		152,427
4,433		Kimball International, Inc (Class B)		62,106
7,432	e	La-Z-Boy, Inc		85,171
7,038	e	Sealy Corp		116,268
7,108	*e	Select Comfort Corp		115,292
12,682	e	Tempur-Pedic International, Inc		328,464
4,278	*e	Williams Scotsman International, Inc		101,859
		TOTAL FURNITURE AND FIXTURES		1,584,613
FURNITURE AND HOMEFURNISHINGS STORES - 0.29%
4,508	*e	Guitar Center, Inc		269,623
3,769	e	Haverty Furniture Cos, Inc		43,984
7,589		Knoll, Inc		169,994

282

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
13,969	e	Pier 1 Imports, Inc	$	118,597
4,215	e	Tuesday Morning Corp		52,097
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		654,295
GENERAL BUILDING CONTRACTORS - 0.65%
276	e	Amrep Corp		13,124
817	*e	Avatar Holdings, Inc		62,860
5,970		Beazer Homes USA, Inc		147,280
1,612	e	Brookfield Homes Corp		46,893
5,345	*e	Hovnanian Enterprises, Inc (Class A)		88,353
2,015	e	M/I Homes, Inc		53,599
3,596		McGrath RentCorp		121,149
4,000	*e	Meritage Homes Corp		107,000
1,880	*e	Palm Harbor Homes, Inc		26,602
4,071	*	Perini Corp		250,489
9,888	e	Standard-Pacific Corp		173,337
1,400	*e	Team, Inc		62,958
7,957		Walter Industries, Inc		230,435
4,408	*	WCI Communities, Inc		73,525
		TOTAL GENERAL BUILDING CONTRACTORS		1,457,604
GENERAL MERCHANDISE STORES - 0.33%
7,030	*e	99 Cents Only Stores		92,163
1,439	e	Bon-Ton Stores, Inc		57,646
6,006	*e	Cabela's, Inc		132,913
7,713	e	Casey's General Stores, Inc		210,256
1,739	*e	Conn's, Inc		49,666
5,740		Fred's, Inc		76,801
3,895	*e	Retail Ventures, Inc		62,826
3,748	e	Stein Mart, Inc		45,950
		TOTAL GENERAL MERCHANDISE STORES		728,221
HEALTH SERVICES - 1.75%
3,598	*	Alliance Imaging, Inc		33,785
4,040	*	Amedisys, Inc		146,773
1,790	*	American Dental Partners, Inc		46,486
4,536	*	Amsurg Corp		109,499
6,671	*	Apria Healthcare Group, Inc		191,925
8,595	*e	Assisted Living Concepts, Inc (A Shares)		91,537
1,584	*e	Bio-Reference Labs, Inc		43,322
1,109	*	Corvel Corp		28,989
5,144	*	Cross Country Healthcare, Inc		85,802
3,212	*e	CryoLife, Inc		41,788
2,352	*	eHealth, Inc		44,900
862	*e	Emeritus Corp		26,705
4,708	*e	Enzo Biochem, Inc		70,385
3,006	*	Genesis HealthCare Corp		205,671
2,317	*e	Genomic Health, Inc		43,560
4,027	*	Gentiva Health Services, Inc		80,782
12,000	*	Healthsouth Corp		217,320
5,357	*e	Healthways, Inc		253,761
5,640	*e	Hythiam, Inc		48,786
8,289	*	Immunomedics, Inc		34,399
4,639	*e	Kindred Healthcare, Inc		142,510

283

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,138		LCA-Vision, Inc	$	148,302
2,071	*e	LHC Group, Inc		54,260
5,973	*	Magellan Health Services, Inc		277,565
3,094	*e	Matria Healthcare, Inc		93,686
1,386	*	Medcath Corp		44,075
994	e	National Healthcare Corp		51,290
13,652	*e	Nektar Therapeutics		129,557
2,967	*e	Nighthawk Radiology Holdings, Inc		53,554
4,908	*	Odyssey HealthCare, Inc		58,209
4,418	e	Option Care, Inc		68,037
8,291	*	Psychiatric Solutions, Inc		300,632
1,853	*e	Radiation Therapy Services, Inc		48,808
2,746	*	RehabCare Group, Inc		39,103
865	*	Sirtris Pharmaceuticals, Inc		8,538
3,898	*	Skilled Healthcare Group, Inc (Class A)		60,458
3,995	*e	Stereotaxis, Inc		52,175
6,883	*	Sun Healthcare Group, Inc		99,735
6,833	*e	Sunrise Senior Living, Inc		273,252
3,101	*	Symbion, Inc		67,323
		TOTAL HEALTH SERVICES		3,917,244
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.22%
781	*e	Comverge, Inc		24,219
5,503		Granite Construction, Inc		353,183
1,157	*	Great Lakes Dredge & Dock Corp		10,992
3,915	*	Matrix Service Co		97,288
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		485,682
HOLDING AND OTHER INVESTMENT OFFICES - 8.54%
5,017		Acadia Realty Trust		130,191
7,056	*e	Affordable Residential Communities LP		83,402
1,160	e	Agree Realty Corp		36,250
7,792	e	Alesco Financial, Inc		63,349
318	*e	Alexander's, Inc		128,552
4,498		Alexandria Real Estate Equities, Inc		435,496
3,469		American Campus Communities, Inc		98,138
19,910		American Financial Realty Trust		205,471
7,455	e	American Home Mortgage Investment Corp		137,023
2,494	*	Ampal American Israel (Class A)		14,839
8,719		Anthracite Capital, Inc		102,012
6,215		Anworth Mortgage Asset Corp		56,246
15,338	e	Apollo Investment Corp		330,074
1,659		Arbor Realty Trust, Inc		42,819
16,183	e	Ashford Hospitality Trust, Inc		190,312
2,246		Associated Estates Realty Corp		35,015
9,995		BioMed Realty Trust, Inc		251,074
1,422		BRT Realty Trust		36,986
6,211		Capital Lease Funding, Inc		66,768
504	e	Capital Southwest Corp		78,518
2,241	e	Capital Trust, Inc (Class A)		76,508
4,135	e	CBRE Realty Finance, Inc		49,165
6,309	e	Cedar Shopping Centers, Inc		90,534
1,385	e	Cherokee, Inc		50,608
3,022	e	Compass Diversified Trust		53,882

284

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,956		Corporate Office Properties Trust	$	244,256
6,188		Cousins Properties, Inc		179,514
12,087	e	Crescent Real Estate Equities Co		271,232
3,980		Crystal River Capital, Inc		96,634
25,735		DCT Industrial Trust, Inc		276,909
7,385		Deerfield Triarc Capital Corp		108,043
14,440		DiamondRock Hospitality Co		275,515
8,137		Digital Realty Trust, Inc		306,602
3,621		EastGroup Properties, Inc		158,672
3,994	e	Education Realty Trust, Inc		56,036
4,065		Entertainment Properties Trust		218,616
8,409		Equity Inns, Inc		188,362
3,188		Equity Lifestyle Properties, Inc		166,382
5,626	e	Equity One, Inc		143,744
9,833		Extra Space Storage, Inc		162,245
9,527		FelCor Lodging Trust, Inc		247,988
6,930	e	First Industrial Realty Trust, Inc		268,607
3,766		First Potomac Realty Trust		87,710
9,213	e	Franklin Street Properties Corp		152,383
24,626	e	Friedman Billings Ramsey Group, Inc (Class A)		134,458
2,626	e	Getty Realty Corp		69,011
2,327	e	Gladstone Capital Corp		49,937
5,767	e	Glimcher Realty Trust		144,175
4,524	e	GMH Communities Trust		43,838
2,667	e	Gramercy Capital Corp		73,449
7,308		Healthcare Realty Trust, Inc		203,016
6,162	e	Hersha Hospitality Trust		72,835
2,367	*	HFF, Inc (Class A)		36,712
9,383		Highland Hospitality Corp		180,154
8,690		Highwoods Properties, Inc		325,875
5,076		Home Properties, Inc		263,597
11,043	e	IMPAC Mortgage Holdings, Inc		50,908
8,954	e	Inland Real Estate Corp		152,039
6,925		Innkeepers U.S.A. Trust		122,780
7,044		Investors Real Estate Trust		72,765
43,116		iShares Russell 2000 Index Fund		3,576,903
7,427	*e	Jamba, Inc		67,883
3,686	e	JER Investors Trust, Inc		55,290
2,977		Kite Realty Group Trust		56,623
6,126		LaSalle Hotel Properties		265,991
10,107		Lexington Corporate Properties Trust		210,226
3,353		LTC Properties, Inc		76,281
6,291	e	Luminent Mortgage Capital, Inc		63,476
5,718		Maguire Properties, Inc		196,299
7,078	e	Medical Properties Trust, Inc		93,642
11,995		MFA Mortgage Investments, Inc		87,324
3,884		Mid-America Apartment Communities, Inc		203,832
3,634	e	Mission West Properties, Inc		50,658
3,835		MVC Capital, Inc		72,136
3,681		National Health Investors, Inc		116,761
10,197		National Retail Properties, Inc		222,906
13,632		Nationwide Health Properties, Inc		370,790
6,349	e	Newcastle Investment Corp		159,169
6,002	*	NexCen Brands, Inc		66,862

285

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
8,888		NorthStar Realty Finance Corp	$	111,189
6,487	e	Novastar Financial, Inc		45,279
10,269		Omega Healthcare Investors, Inc		162,558
2,529	e	Parkway Properties, Inc		121,468
3,625		PennantPark Investment Corp		50,895
4,908		Pennsylvania Real Estate Investment Trust		217,572
6,661		Post Properties, Inc		347,238
5,961		Potlatch Corp		256,621
3,488		Prospect Capital Corp		60,935
2,474		PS Business Parks, Inc		156,777
2,210	*e	Quadra Realty Trust, Inc		27,647
9,668	e	RAIT Investment Trust		251,561
2,941		Ramco-Gershenson Properties		105,670
15,434		Realty Income Corp		388,782
3,246		Redwood Trust, Inc		157,041
3,604	e	Republic Property Trust		44,149
3,115	e	Resource Capital Corp		43,548
1,543		Saul Centers, Inc		69,975
12,778	e	Senior Housing Properties Trust		260,032
3,169		Sovran Self Storage, Inc		152,619
17,434		Spirit Finance Corp		253,839
2,600	*e	Star Maritime Acquisition Corp		31,876
11,355	e	Strategic Hotels & Resorts, Inc		255,374
2,316		Sun Communities, Inc		68,947
9,545		Sunstone Hotel Investors, Inc		270,983
4,777	e	Tanger Factory Outlet Centers, Inc		178,899
3,172	*e	Tarragon Corp		26,835
1,795	e	Universal Health Realty Income Trust		59,774
3,033		Urstadt Biddle Properties, Inc (Class A)		51,591
6,752		U-Store-It Trust		110,665
6,881	e	Washington Real Estate Investment Trust		233,954
3,763	*	Winston Hotels, Inc		56,445
7,221		Winthrop Realty Trust		49,897
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		19,141,918
HOTELS AND OTHER LODGING PLACES - 0.57%
3,929		Ameristar Casinos, Inc		136,493
3,732	*	Bluegreen Corp		43,627
6,258	*	Gaylord Entertainment Co		335,679
4,380	*	Great Wolf Resorts, Inc		62,415
2,309	*	Isle of Capri Casinos, Inc		55,324
2,688	*	Lodgian, Inc		40,401
2,963		Marcus Corp		70,401
1,714	*	Monarch Casino & Resort, Inc		46,021
3,268	*e	Morgans Hotel Group Co		79,674
1,452	*e	Riviera Holdings Corp		52,780
5,079	*e	Trump Entertainment Resorts, Inc		63,741
4,795	*e	Vail Resorts, Inc		291,872
		TOTAL HOTELS AND OTHER LODGING PLACES		1,278,428
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.22%
1,407	e	Aaon, Inc		44,813
4,183		Actuant Corp (Class A)		263,780
4,477		Albany International Corp (Class A)		181,050

286

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,066	*e	Allis-Chalmers Energy, Inc	$	93,477
1,930	*	Altra Holdings, Inc		33,350
993		Ampco-Pittsburgh Corp		39,809
2,946	*	Astec Industries, Inc		124,380
3,088	*e	ASV, Inc		53,361
7,200	*	Asyst Technologies, Inc		52,056
14,636	*	Axcelis Technologies, Inc		94,988
2,490		Black Box Corp		103,036
6,188	*e	Blount International, Inc		80,939
7,551	e	Briggs & Stratton Corp		238,310
11,586	*	Brooks Automation, Inc		210,286
5,707		Bucyrus International, Inc (Class A)		403,941
1,826	e	Cascade Corp		143,231
14,042	*	Cirrus Logic, Inc		116,549
2,960	*	Columbus McKinnon Corp		95,312
4,635	*	Cray, Inc		35,365
6,764		Curtiss-Wright Corp		315,270
5,510	*	Cymer, Inc		221,502
4,067	*	Dril-Quip, Inc		182,812
8,682	*	Electronics for Imaging, Inc		245,006
13,045	*	Emulex Corp		284,903
2,428	*	ENGlobal Corp		29,500
3,357	*	EnPro Industries, Inc		143,646
20,657	*	Entegris, Inc		245,405
17,360	*	Extreme Networks, Inc		70,308
1,480	*	Flotek Industries, Inc		88,726
5,321	*	Flow International Corp		67,045
2,472	*e	Fuel Tech, Inc		84,666
48,751	*e	Gateway, Inc		77,514
1,642	*	Gehl Co		49,851
5,850	*e	Goodman Global, Inc		129,987
1,638	e	Gorman-Rupp Co		52,187
1,575		Hardinge, Inc		53,597
789	*	Hurco Cos, Inc		39,434
4,532	*	Immersion Corp		67,889
9,252	*e	Intermec, Inc		234,168
3,060	*	Intevac, Inc		65,056
1,060	*e	Isilon Systems, Inc		16,345
2,148	*	Kadant, Inc		67,018
4,319		Kaydon Corp		225,106
4,353	*e	Komag, Inc		138,817
8,340	*	Kulicke & Soffa Industries, Inc		87,320
1,672	e	Lindsay Manufacturing Co		74,053
2,337		Lufkin Industries, Inc		150,853
6,188	*	Micros Systems, Inc		336,627
2,170	*e	Middleby Corp		129,809
4,628		Modine Manufacturing Co		104,593
911		Nacco Industries, Inc (Class A)		141,651
2,696	*	NATCO Group, Inc (Class A)		124,124
5,288	*e	Netgear, Inc		191,690
5,139		Nordson Corp		257,772
7,520	*	Oil States International, Inc		310,877
15,808		Palm, Inc		253,086
29,632	*e	Quantum Corp		93,933

287

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,588	*e	Rackable Systems, Inc	$	56,708
3,095	*	RBC Bearings, Inc		127,669
1,792	*	Rimage Corp		56,609
2,229		Robbins & Myers, Inc		118,427
20,402	*e	Safeguard Scientifics, Inc		57,330
1,566		Sauer-Danfoss, Inc		46,604
3,836	*e	Scansource, Inc		122,714
4,089	*e	Semitool, Inc		39,295
3,710	*e	Sigma Designs, Inc		96,794
9,938	*e	SourceForge, Inc		41,938
1,910		Standex International Corp		54,320
4,620	*	STEC, Inc		29,707
1,318	*	Super Micro Computer, Inc		13,193
773	*	T-3 Energy Services, Inc		25,857
2,228	*e	Tecumseh Products Co (Class A)		35,002
2,501		Tennant Co		91,287
2,807	*	TurboChef Technologies, Inc		39,073
649		Twin Disc, Inc		46,670
4,051	*e	Ultratech, Inc		54,000
3,498		Watsco, Inc		190,291
4,581		Woodward Governor Co		245,862
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		9,449,529
INSTRUMENTS AND RELATED PRODUCTS - 5.60%
2,943	*e	Abaxis, Inc		61,391
4,323	*e	Abiomed, Inc		46,602
2,590	*	Accuray, Inc		57,446
10,478	*e	Affymetrix, Inc		260,797
9,044	*e	Align Technology, Inc		218,503
11,008	*e	American Medical Systems Holdings, Inc		198,584
1,363	*e	American Science & Engineering, Inc		77,487
2,160		Analogic Corp		158,782
2,495	*	Anaren, Inc		43,937
3,446	*e	Angiodynamics, Inc		62,062
2,008	*e	Argon ST, Inc		46,606
3,854	e	Arrow International, Inc		147,531
4,057	*e	Arthrocare Corp		178,143
2,351	*e	Aspect Medical Systems, Inc		35,171
2,079	e	Badger Meter, Inc		58,753
2,847	*	Bio-Rad Laboratories, Inc (Class A)		215,148
2,296	*	Biosite, Inc		212,357
10,506	*	Bruker BioSciences Corp		94,659
1,645	*	Cantel Medical Corp		27,981
8,043	*e	Cepheid, Inc		117,428
4,858	*	Coherent, Inc		148,218
3,426		Cohu, Inc		76,229
4,444	*	Conmed Corp		130,120
17,575	*e	Credence Systems Corp		63,270
1,935	*	Cutera, Inc		48,220
3,692	*e	Cyberonics, Inc		62,099
1,084	*	Cynosure, Inc (Class A)		39,490
1,850		Datascope Corp		70,818
2,905	*	Dionex Corp		206,226
3,644	*e	DJ Orthopedics, Inc		150,388

288

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,750	*	Eagle Test Systems, Inc	$	28,105
2,753	e	EDO Corp		90,491
3,753	*e	ESCO Technologies, Inc		136,084
3,903	*e	Esterline Technologies Corp		188,554
2,517	*e	ev3, Inc		42,487
1,783	*	Excel Technology, Inc		49,817
2,086	*	FARO Technologies, Inc		66,460
5,417	*e	FEI Co		175,836
10,125	*e	Flir Systems, Inc		468,281
7,300	*	Formfactor, Inc		279,590
6,661	*	Fossil, Inc		196,433
2,849	*e	Foxhollow Technologies, Inc		60,513
4,052	*	Haemonetics Corp		213,176
8,234	*	Hologic, Inc		455,423
1,852	*e	ICU Medical, Inc		79,525
2,942	*e	I-Flow Corp		49,249
3,402	*	II-VI, Inc		92,432
8,190	*e	Illumina, Inc		332,432
10,863	*e	Input/Output, Inc		169,571
1,120	*e	Insulet Corp		15,904
2,819	*e	Integra LifeSciences Holdings Corp		139,315
4,156	e	Invacare Corp		76,179
5,234	*	Ionatron, Inc		20,413
4,585	*e	Itron, Inc		357,355
6,197	*	Ixia		57,384
1,798	*e	Kensey Nash Corp		48,204
6,955	*e	Kyphon, Inc		334,883
9,045	*e	L-1 Identity Solutions, Inc		184,970
9,001	*e	LTX Corp		50,046
2,096	*e	Measurement Specialties, Inc		49,633
2,233	*	Medical Action Industries, Inc		40,328
6,073	e	Mentor Corp		247,050
4,678	*	Merit Medical Systems, Inc		55,949
2,142	*	Micrus Endovascular Corp		52,693
4,296	e	Mine Safety Appliances Co		187,993
7,726	*	MKS Instruments, Inc		214,010
2,451		Movado Group, Inc		82,697
2,598		MTS Systems Corp		116,053
3,265	*	Natus Medical, Inc		51,979
5,038	*e	Newport Corp		77,988
2,788	*	Northstar Neuroscience, Inc		32,424
5,006	*	NuVasive, Inc		135,212
2,884	*e	NxStage Medical, Inc		37,290
3,577	e	Oakley, Inc		101,587
	*e	Orthofix International NV		117,417
691	*e	OYO Geospace Corp		51,265
2,927	*e	Palomar Medical Technologies, Inc		101,596
3,544		PolyMedica Corp		144,772
2,397	*	Rofin-Sinar Technologies, Inc		165,393
4,153	*e	Rudolph Technologies, Inc		68,981
8,305	*e	Sirf Technology Holdings, Inc		172,246
2,691	*e	Sirona Dental Systems, Inc		101,801
5,016	*	Sonic Innovations, Inc		43,890
3,210	*e	Sonic Solutions, Inc		40,478

289

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,625	*e	SonoSite, Inc	$	82,504
4,698	*e	Spectranetics Corp		54,121
9,955		STERIS Corp		304,623
5,203	*e	Symmetry Medical, Inc		83,300
5,341	*	Teledyne Technologies, Inc		245,419
8,255	*e	Thoratec Corp		151,809
1,396	e	United Industrial Corp		83,732
4,681	*	Varian, Inc		256,659
4,762	*	Veeco Instruments, Inc		98,764
4,540	*e	Ventana Medical Systems, Inc		350,806
2,481	*e	Vital Images, Inc		67,384
1,747		Vital Signs, Inc		97,046
8,332	*e	Vivus, Inc		43,576
3,383	*	Volcano Corp		68,370
5,172	*	Wright Medical Group, Inc		124,749
4,308	*	X-Rite, Inc		63,629
3,056	*	Zoll Medical Corp		68,179
2,393	*	Zygo Corp		34,196
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		12,543,149
INSURANCE AGENTS, BROKERS AND SERVICE - 0.29%
3,964	e	Crawford & Co (Class B)		26,797
5,620		Hilb Rogal & Hobbs Co		240,873
834	e	James River Group, Inc		27,714
5,757	e	National Financial Partners Corp		266,607
3,961	*	United America Indemnity Ltd (Class A)		98,510
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		660,501
INSURANCE CARRIERS - 3.86%
5,034		21st Century Insurance Group		110,043
1,156	*e	ACA Capital Holdings, Inc		13,756
4,687	e	Alfa Corp		72,977
8,802	e	American Equity Investment Life Holding Co		106,328
1,371	*	American Physicians Capital, Inc		55,526
8,063	*	AMERIGROUP Corp		191,899
2,665	*	Amerisafe, Inc		52,314
3,870		Amtrust Financial Services, Inc		72,717
5,133	e	Argonaut Group, Inc		160,201
13,465		Aspen Insurance Holdings Ltd		377,963
10,354		Assured Guaranty Ltd		306,064
1,592		Baldwin & Lyons, Inc (Class B)		41,360
2,055		Bristol West Holdings, Inc		45,970
1,131		Castlepoint Holdings Ltd		16,614
6,747	*	Centene Corp		144,521
4,937	*	Citizens, Inc		34,756
2,387	*	CNA Surety Corp		45,138
8,137		Commerce Group, Inc		282,517
1,096	*	Darwin Professional Underwriters, Inc		27,586
6,629		Delphi Financial Group, Inc (Class A)		277,225
1,924		Donegal Group, Inc (Class A)		28,668
791		EMC Insurance Group, Inc		19,633
8,242		Employers Holdings, Inc		175,060
1,100	*	Enstar Group Ltd		132,781
2,064		FBL Financial Group, Inc (Class A)		81,156

290

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,176	*e	First Acceptance Corp	$	22,108
1,765	*	First Mercury Financial Corp		37,012
1,943	*	Flagstone Reinsurance Holdings Ltd		25,881
1,389	*	Fpic Insurance Group, Inc		56,630
1,497		Great American Financial Resources, Inc		36,212
1,304	*	Greenlight Capital Re Ltd (Class A)		29,379
655	*	Hallmark Financial Services		7,939
2,588		Harleysville Group, Inc		86,336
4,794	*	HealthExtras, Inc		141,807
7,303	*	Healthspring, Inc		139,195
6,756		Horace Mann Educators Corp		143,497
918		Independence Holding Co		18,755
2,988		Infinity Property & Casualty Corp		151,581
9,722		IPC Holdings Ltd		313,923
635		Kansas City Life Insurance Co		29,540
2,612	e	LandAmerica Financial Group, Inc		252,032
9,217		Max Re Capital Ltd		260,841
4,385	*	Meadowbrook Insurance Group, Inc		48,060
1,408		Midland Co		66,092
1,920	*	Molina Healthcare, Inc		58,598
17,080		Montpelier Re Holdings Ltd		316,663
761		National Interstate Corp		19,847
372		National Western Life Insurance Co (Class A)		94,086
2,118	*	Navigators Group, Inc		114,160
1,035		NYMAGIC, Inc		41,607
4,323		Odyssey Re Holdings Corp		185,413
9,166		Ohio Casualty Corp		396,979
17,434		Phoenix Cos, Inc		261,684
9,143		Platinum Underwriters Holdings Ltd		317,719
4,635	*	PMA Capital Corp (Class A)		49,548
3,056		Presidential Life Corp		60,081
6,428	*e	Primus Guaranty Ltd		68,908
5,090	*	ProAssurance Corp		283,360
8,634	*	PXRE Group Ltd		40,062
2,597	*	RAM Holdings Ltd		40,903
3,217		RLI Corp		179,991
2,521		Safety Insurance Group, Inc		104,369
9,652		Scottish Re Group Ltd		47,198
2,954	*	SeaBright Insurance Holdings, Inc		51,636
3,721		Security Capital Assurance Ltd		114,867
8,382		Selective Insurance Group, Inc		225,308
2,188	e	State Auto Financial Corp		67,062
2,467		Stewart Information Services Corp		98,261
2,942		Tower Group, Inc		93,850
1,687	*e	Triad Guaranty, Inc		67,362
3,397		United Fire & Casualty Co		120,186
5,987	*	Universal American Financial Corp		127,403
5,659		Zenith National Insurance Corp		266,482
		TOTAL INSURANCE CARRIERS		8,653,186
JUSTICE, PUBLIC ORDER AND SAFETY - 0.10%
7,699	*e	Geo Group, Inc		224,041
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		224,041

291

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
LEATHER AND LEATHER PRODUCTS - 0.40%
3,470	*	Genesco, Inc	$	181,516
7,742	*e	Iconix Brand Group, Inc		172,027
2,946		Steven Madden Ltd		96,511
7,208	*	Timberland Co (Class A)		181,570
1,479	e	Weyco Group, Inc		39,829
8,316		Wolverine World Wide, Inc		230,436
		TOTAL LEATHER AND LEATHER PRODUCTS		901,889
LEGAL SERVICES - 0.15%
6,530	*e	FTI Consulting, Inc		248,336
1,285	*e	Pre-Paid Legal Services, Inc		82,638
		TOTAL LEGAL SERVICES		330,974
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.03%
1,585	*	Emergency Medical Services Corp (Class A)		62,021
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		62,021
LUMBER AND WOOD PRODUCTS - 0.19%
1,688	e	American Woodmark Corp		58,405
12,253	*e	Champion Enterprises, Inc		120,447
1,704	e	Deltic Timber Corp		93,413
1,023		Skyline Corp		30,700
2,643		Universal Forest Products, Inc		111,693
		TOTAL LUMBER AND WOOD PRODUCTS		414,658
METAL MINING - 0.45%
8,955	*	Apex Silver Mines Ltd		180,712
42,850	*e	Coeur d'Alene Mines Corp		153,832
17,170	*	Hecla Mining Co		146,632
6,796	*e	Idaho General Mines, Inc		43,087
7,759	*e	Rosetta Resources, Inc		167,129
3,926	e	Royal Gold, Inc		93,321
4,082	*e	ShengdaTech, Inc		21,716
6,144	*e	Stillwater Mining Co		67,645
8,465	*e	Uranium Resources, Inc		93,369
8,683	*	US Gold Corp		47,757
		TOTAL METAL MINING		1,015,200
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.45%
3,721		Blyth, Inc		98,904
11,022		Callaway Golf Co		196,302
4,609	e	Daktronics, Inc		99,001
4,409	*e	Jakks Pacific, Inc		124,069
7,560	*e	K2, Inc		114,836
2,305	e	Marine Products Corp		18,970
4,504	e	Nautilus, Inc		54,228
3,149	*	RC2 Corp		125,991
2,374	*	Russ Berrie & Co, Inc		44,228
5,689	*e	Shuffle Master, Inc		94,437
1,273		Steinway Musical Instruments, Inc		44,033
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,014,999

292

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
MISCELLANEOUS RETAIL - 1.13%
4,652	*e	1-800-FLOWERS.COM, Inc (Class A)	$	43,868
2,889	*	AC Moore Arts & Crafts, Inc		56,653
3,376		Big 5 Sporting Goods Corp		86,088
2,135	*e	Blue Nile, Inc		128,954
2,769		Books-A-Million, Inc		46,907
8,952	e	Borders Group, Inc		170,625
2,201	*e	Build-A-Bear Workshop, Inc		57,534
4,530		Cash America International, Inc		179,615
6,224	*e	CKX, Inc		86,016
5,433	*	Ezcorp, Inc (Class A)		71,933
1,691	*	Gander Mountain Co		19,193
2,887	*	GSI Commerce, Inc		65,564
4,687	*	Hibbett Sports, Inc		128,330
5,034		Longs Drug Stores Corp		264,386
2,350	*	Overstock.com, Inc		42,935
1,313	*	PC Connection, Inc		17,384
5,783	*	Priceline.com, Inc		397,523
1,904	e	Pricesmart, Inc		47,086
2,084	*	Shutterfly, Inc		44,910
2,841	*	Stamps.com, Inc		39,149
1,577	e	Systemax, Inc		32,817
4,710	*	Valuevision International, Inc (Class A)		53,317
4,176	e	World Fuel Services Corp		175,643
7,482	*e	Zale Corp		178,146
2,764	*e	Zumiez, Inc		104,424
		TOTAL MISCELLANEOUS RETAIL		2,539,000
MOTION PICTURES - 0.62%
6,305	*e	Avid Technology, Inc		222,882
30,028	*e	Blockbuster, Inc (Class A)		129,421
1,873	e	Carmike Cinemas, Inc		41,131
3,943	*	Cinemark Holdings Inc		70,540
2,911	*e	Gaiam, Inc (Class A)		53,068
8,102	*	Macrovision Corp		243,546
6,419	*	National CineMedia, Inc		179,796
22,110	*	Time Warner Telecom, Inc (Class A)		444,411
		TOTAL MOTION PICTURES		1,384,795
MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS - 0.03%
4,872	*e	Premier Exhibitions, Inc		76,783
		TOTAL MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS		76,783
NONDEPOSITORY INSTITUTIONS - 1.11%
3,097	*e	Accredited Home Lenders Holding Co		42,336
10,194	e	Advance America Cash Advance Centers, Inc		180,842
5,662		Advanta Corp (Class B)		176,315
10,614	e	Ares Capital Corp		178,846
1,621	e	Asta Funding, Inc		62,295
7,870	e	Centerline Holding Co		141,660
3,224	*e	CompuCredit Corp		112,904
735	*e	Credit Acceptance Corp		19,720
2,360		Delta Financial Corp		28,957
2,295	*e	Encore Capital Group, Inc		28,642
4,313	*	Energy Infrastructure Acquisition Corp		42,095

293

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,507		Federal Agricultural Mortgage Corp (Class C)	$	51,570
3,970	e	Financial Federal Corp		118,385
3,772	*	First Cash Financial Services, Inc		88,416
7,552	*e	Freedom Acquisition Holding, Inc		83,148
3,298		Hercules Technology Growth Capital, Inc		44,556
5,750	*e	Information Services Group, Inc		43,988
7,519	*	INVESTools, Inc		74,889
2,380		Kohlberg Capital Corp		44,149
6,789	*e	Marathon Acquisition Corp		53,497
9,546		MCG Capital Corp		152,927
2,500		Nelnet, Inc (Class A)		61,100
1,840	*e	NewStar Financial, Inc		26,183
2,501	e	NGP Capital Resources Co		41,817
4,420	*e	NTR Acquisition Co		41,857
5,764	*e	Ocwen Financial Corp		76,834
3,346	e	Patriot Capital Funding, Inc		49,688
8,169	*	PHH Corp		254,954
2,936	e	Technology Investment Capital Corp		46,359
2,783	*	World Acceptance Corp		118,918
		TOTAL NONDEPOSITORY INSTITUTIONS		2,487,847
NONMETALLIC MINERALS, EXCEPT FUELS - 0.12%
3,663	e	AMCOL International Corp		100,037
5,026	e	Compass Minerals International, Inc		174,201
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		274,238
OIL AND GAS EXTRACTION - 3.39%
326	e	APCO Argentina, Inc		27,681
2,066	*e	Arena Resources, Inc		120,055
3,492		Atlas America, Inc		187,625
3,224	*e	ATP Oil & Gas Corp		156,815
4,185	*	Atwood Oceanics, Inc		287,175
6,241	*e	Basic Energy Services, Inc		159,582
6,032		Berry Petroleum Co (Class A)		227,286
4,715	*e	Bill Barrett Corp		173,653
2,599	*e	Bois d'Arc Energy, Inc		44,261
7,332	*	Brigham Exploration Co		43,039
3,667	*e	Bronco Drilling Co, Inc		60,175
3,190	*	Cal Dive International, Inc		53,050
3,238	*	Callon Petroleum Co		45,882
3,497	*e	Carrizo Oil & Gas, Inc		145,021
931	*	Clayton Williams Energy, Inc		24,644
6,526	*	Complete Production Services, Inc		168,697
6,780	*	Comstock Resources, Inc		203,197
1,860	*	Contango Oil & Gas Co		67,499
1,088	*	Dawson Geophysical Co		66,868
10,038	*e	Delta Petroleum Corp		201,563
4,688	*	Edge Petroleum Corp		65,679
8,115	*	Encore Acquisition Co		225,597
4,034	*	Energy Partners Ltd		67,327
9,420	*	EXCO Resources, Inc		164,285
5,084	*e	FX Energy, Inc		46,519
4,329	*e	GeoGlobal Resources, Inc		22,035
975	*	Geokinetics, Inc		30,254

294

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,573	*e	Geomet, Inc	$	27,369
1,646	*e	GMX Resources, Inc		56,952
2,274	*e	Goodrich Petroleum Corp		78,749
28,254	*	Grey Wolf, Inc		232,813
2,808	*e	Gulfport Energy Corp		56,104
14,147	*e	Hanover Compressor Co		337,406
5,490	*e	Harvest Natural Resources, Inc		65,386
4,039	*e	Hercules Offshore, Inc		130,783
5,199	*	Horizon Offshore, Inc		99,821
1,860		Kayne Anderson Energy Development Co		46,835
13,313	*	Mariner Energy, Inc		322,840
3,365	*e	McMoRan Exploration Co		47,110
14,097	*	Meridian Resource Corp		42,573
14,296	*e	Newpark Resources, Inc		110,794
15,114	*	Oilsands Quest, Inc		37,332
5,892	*e	Parallel Petroleum Corp		129,035
17,057	*	Parker Drilling Co		179,781
5,736		Penn Virginia Corp		230,587
800	m,v*	PetroCorp		(0)
25,914	*e	PetroHawk Energy Corp		410,996
2,409	*	Petroleum Development Corp		114,379
6,431	*	Petroquest Energy, Inc		93,507
7,748	*	Pioneer Drilling Co		115,523
83	*	PrimeEnergy Corp		4,752
5,280		RPC, Inc		89,971
4,342	*	Stone Energy Corp		148,757
6,748	*e	Sulphco, Inc		24,360
1,415	*	Superior Offshore International, Inc		25,753
2,220	*e	Superior Well Services, Inc		56,410
4,568	*	Swift Energy Co		195,328
2,543	*e	Toreador Resources Corp		38,145
1,731	*e	Trico Marine Services, Inc		70,763
4,546	*e	TXCO Resources, Inc		46,733
1,968	*	Union Drilling, Inc		32,315
10,333	*e	Vaalco Energy, Inc		49,908
1,570	*	Venoco, Inc		29,312
8,074	*e	Warren Resources, Inc		94,304
4,643	*	W-H Energy Services, Inc		287,448
5,660	*	Whiting Petroleum Corp		229,343
4,069	*	Willbros Group, Inc		120,768
		TOTAL OIL AND GAS EXTRACTION		7,596,509
PAPER AND ALLIED PRODUCTS - 0.70%
8,586	e	Bowater, Inc		214,221
5,603	*	Buckeye Technologies, Inc		86,678
8,205	*	Cenveo, Inc		190,274
2,598	*e	Chesapeake Corp		32,657
6,428	e	Glatfelter		87,357
10,216	*e	Graphic Packaging Corp		49,445
5,069		Greif, Inc (Class A)		302,163
4,531	*	Mercer International, Inc		46,216
2,395	e	Neenah Paper, Inc		98,818
8,786	*	Playtex Products, Inc		130,121
5,362		Rock-Tenn Co (Class A)		170,083

295

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,277		Schweitzer-Mauduit International, Inc	$	70,587
6,423		Wausau Paper Corp		86,068
		TOTAL PAPER AND ALLIED PRODUCTS		1,564,688
PERSONAL SERVICES - 0.50%
4,912	e	Coinmach Service Corp (Class A)		64,986
4,346	*	Coinstar, Inc		136,812
728		CPI Corp		50,596
3,080		G & K Services, Inc (Class A)		121,691
5,117	e	Jackson Hewitt Tax Service, Inc		143,839
6,765		Regis Corp		258,761
14,501	*	Sally Beauty Holdings, Inc		130,509
2,678	*	Steiner Leisure Ltd		131,543
2,033		Unifirst Corp		89,554
		TOTAL PERSONAL SERVICES		1,128,291
PETROLEUM AND COAL PRODUCTS - 0.15%
1,861	e	Alon USA Energy, Inc		81,903
1,645	e	Delek US Holdings, Inc		43,839
6,277	*e	Headwaters, Inc		108,404
4,457	*e	Nova Biosource Fuels, Inc		11,365
2,778		WD-40 Co		91,313
		TOTAL PETROLEUM AND COAL PRODUCTS		336,824
PRIMARY METAL INDUSTRIES - 1.42%
6,881	e	Belden CDT, Inc		380,863
3,213	*	Brush Engineered Materials, Inc		134,914
3,552	*	Century Aluminum Co		194,046
1,130	*	Claymont Steel, Inc		24,171
1,198	*e	Coleman Cable, Inc		30,980
3,704	e	Encore Wire Corp		109,046
3,877	e	Gibraltar Industries, Inc		85,876
1,778	*	Haynes International, Inc		150,117
1,786	*e	LB Foster Co (Class A)		51,222
4,823		Matthews International Corp (Class A)		210,331
5,659		Mueller Industries, Inc		194,896
1,269	*	Northwest Pipe Co		45,138
1,444		Olympic Steel, Inc		41,385
5,667		Quanex Corp		275,983
3,523	*	RTI International Metals, Inc		265,529
3,343		Schnitzer Steel Industries, Inc (Class A)		160,263
3,208	*e	Superior Essex, Inc		119,819
4,169		Texas Industries, Inc		326,891
4,488		Tredegar Corp		95,594
937	*	Universal Stainless & Alloy		33,011
1,832	*e	Wheeling-Pittsburgh Corp		34,863
10,554	e	Worthington Industries, Inc		228,494
		TOTAL PRIMARY METAL INDUSTRIES		3,193,432
PRINTING AND PUBLISHING - 1.08%
8,220	*e	ACCO Brands Corp		189,471
8,459		American Greetings Corp (Class A)		239,643
12,938		Belo (A.H.) Corp (Class A)		266,393
3,978		Bowne & Co, Inc		77,611

296

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,674	*	Consolidated Graphics, Inc	$	115,975
1,705	e	Courier Corp		68,200
1,119		CSS Industries, Inc		44,324
3,658		Ennis, Inc		86,036
2,010	e	GateHouse Media, Inc		37,286
6,619		Journal Communications, Inc (Class A)		86,113
7,105		Lee Enterprises, Inc		148,210
3,972	e	Martha Stewart Living Omnimedia, Inc (Class A)		68,318
3,237		Media General, Inc (Class A)		107,695
1,074		Multi-Color Corp		42,219
3,745	*e	Playboy Enterprises, Inc (Class B)		42,431
41,608	*e	Primedia, Inc		118,583
2,114		Schawk, Inc		42,322
5,254	*	Scholastic Corp		188,829
2,812	e	Standard Register Co		32,057
8,993	*	Sun-Times Media Group, Inc (Class A)		47,213
7,010	*	Valassis Communications, Inc		120,502
6,590	*	VistaPrint Ltd		252,068
		TOTAL PRINTING AND PUBLISHING		2,421,499
RAILROAD TRANSPORTATION - 0.28%
5,647	e	Florida East Coast Industries		468,588
5,422	*	Genesee & Wyoming, Inc (Class A)		161,792
		TOTAL RAILROAD TRANSPORTATION		630,380
REAL ESTATE - 0.19%
804	e	Consolidated-Tomoka Land Co		55,709
2,256	*	Grubb & Ellis Co		26,170
3,870	*	LoopNet, Inc		90,287
6,230	*	Meruelo Maddux Properties, Inc		50,837
15,966	e	Stewart Enterprises, Inc (Class A)		124,375
706	*e	Stratus Properties, Inc		24,357
4,060		Thomas Properties Group, Inc		64,879
		TOTAL REAL ESTATE		436,614
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.68%
968	*	AEP Industries, Inc		43,570
9,426		Cooper Tire & Rubber Co		260,346
1,945	*e	Deckers Outdoor Corp		196,251
2,042	*e	Metabolix, Inc		51,111
3,833		Schulman (A.), Inc		93,257
3,196	*	Skechers U.S.A., Inc (Class A)		93,323
5,080		Spartech Corp		134,874
3,814		Titan International, Inc		120,561
1,590	*e	Trex Co, Inc		31,212
9,386		Tupperware Corp		269,754
5,041	e	West Pharmaceutical Services, Inc		237,683
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,531,942
SECURITY AND COMMODITY BROKERS - 1.37%
3,332		Calamos Asset Management, Inc (Class A)		85,133
2,757	e	Cohen & Steers, Inc		119,792
2,256	*	Cowen Group, Inc		40,405
1,242	*	Epoch Holding Corp		16,630

297

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,252		Evercore Partners, Inc (Class A)	$	37,272
838	*	FCStone Group, Inc		48,026
788	e	GAMCO Investors, Inc (Class A)		44,167
2,448	*e	GFI Group, Inc		177,431
2,903	e	Greenhill & Co, Inc		199,465
6,109	*e	Interactive Brokers Group, Inc (Class A)		165,737
5,943	e	International Securities Exchange, Inc		388,375
4,532	*e	KBW, Inc		133,150
15,868	*	Knight Capital Group, Inc (Class A)		263,409
7,828	*e	LaBranche & Co, Inc		57,771
13,983	*e	Ladenburg Thalmann Financial Services, Inc		32,161
4,446	*e	MarketAxess Holdings, Inc		79,984
1,764	*e	Morningstar, Inc		82,952
6,667	e	optionsXpress Holdings, Inc		171,075
2,076	*	Penson Worldwide, Inc		50,924
2,886	*	Piper Jaffray Cos		160,837
2,900	e	Sanders Morris Harris Group, Inc		33,756
2,341	*e	Stifel Financial Corp		137,861
3,187		SWS Group, Inc		68,903
3,079	*e	Thomas Weisel Partners Group, Inc		51,265
1,687		US Global Investors, Inc (Class A)		38,244
373		Value Line, Inc		16,375
12,824		Waddell & Reed Financial, Inc (Class A)		333,552
3,131		WP Stewart & Co Ltd		34,097
		TOTAL SECURITY AND COMMODITY BROKERS		3,068,749
SOCIAL SERVICES - 0.14%
4,040	*e	Bright Horizons Family Solutions, Inc		157,196
3,225	*	Capital Senior Living Corp		30,380
1,662	*e	Providence Service Corp		44,409
3,847	*	Res-Care, Inc		81,326
		TOTAL SOCIAL SERVICES		313,311
SPECIAL TRADE CONTRACTORS - 0.54%
516	e	Alico, Inc		31,471
4,522	*	AsiaInfo Holdings, Inc		43,863
3,862		Chemed Corp		256,012
6,568		Comfort Systems USA, Inc		93,134
6,239	*e	Dycom Industries, Inc		187,045
4,873	*	EMCOR Group, Inc		355,242
4,349	*e	Insituform Technologies, Inc (Class A)		94,852
1,910	*	Integrated Electrical Services, Inc		62,973
1,965	*e	Layne Christensen Co		80,467
		TOTAL SPECIAL TRADE CONTRACTORS		1,205,059
STONE, CLAY, AND GLASS PRODUCTS - 0.21%
4,482		Apogee Enterprises, Inc		124,689
3,729	*e	Cabot Microelectronics Corp		132,342
3,156	e	CARBO Ceramics, Inc		138,264
2,032		Libbey, Inc		43,830
4,854	*e	US Concrete, Inc		42,181
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		481,306

298

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
TEXTILE MILL PRODUCTS - 0.07%
840	*e	Heelys, Inc	$	21,722
2,424		Oxford Industries, Inc		107,480
3,124		Xerium Technologies, Inc		23,805
		TOTAL TEXTILE MILL PRODUCTS		153,007
TOBACCO PRODUCTS - 0.16%
4,130		Universal Corp		251,600
4,714	e	Vector Group Ltd		106,206
		TOTAL TOBACCO PRODUCTS		357,806
TRANSPORTATION BY AIR - 0.85%
9,058	*	ABX Air, Inc		73,007
1,721	*e	Air Methods Corp		63,109
14,093	*e	Airtran Holdings, Inc		153,896
6,509	*	Alaska Air Group, Inc		181,341
990	*	Allegiant Travel Co		30,433
2,105	*e	Atlas Air Worldwide Holdings, Inc		124,069
3,089	*e	Bristow Group, Inc		153,060
5,061	*	EGL, Inc		235,235
9,154	*e	ExpressJet Holdings, Inc		54,741
27,283	*e	JetBlue Airways Corp		320,575
3,477	*	Midwest Air Group, Inc		52,225
1,943	*e	PHI, Inc		57,882
2,785	*e	Pinnacle Airlines Corp		52,219
5,702	*	Republic Airways Holdings, Inc		116,036
9,864		Skywest, Inc		235,059
		TOTAL TRANSPORTATION BY AIR		1,902,887
TRANSPORTATION EQUIPMENT - 2.11%
3,189		A.O. Smith Corp		127,209
5,695	*e	AAR Corp		187,992
3,363	*	Accuride Corp		51,824
1,001	*	Aerovironment, Inc		20,631
3,177	*	Aftermarket Technology Corp		94,293
6,838	e	American Axle & Manufacturing Holdings, Inc		202,542
1,420		American Railcar Industries, Inc		55,380
3,754	*	Amerigon, Inc		67,534
1,714	e	Arctic Cat, Inc		33,937
10,905	e	ArvinMeritor, Inc		242,091
7,838		Clarcor, Inc		293,376
2,806	*	Comtech Group, Inc		46,327
6,886		Federal Signal Corp		109,212
9,388	*e	Fleetwood Enterprises, Inc		84,961
10,399	*e	Force Protection, Inc		214,635
1,750		Freightcar America, Inc		83,720
8,379	*e	GenCorp, Inc		109,514
1,546	*e	GenTek, Inc		54,450
2,609	e	Greenbrier Cos, Inc		78,844
3,736	e	Group 1 Automotive, Inc		150,710
15,525	*	Hayes Lemmerz International, Inc		83,059
3,898	e	Heico Corp		164,028
3,632		Kaman Corp		113,282
1,808	*	Miller Industries, Inc		45,381
4,240	e	Monaco Coach Corp		60,844

299

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,676	e	Noble International Ltd	$	34,257
9,062	*	Orbital Sciences Corp		190,393
5,466	e	Polaris Industries, Inc		296,039
1,131	*	Sequa Corp (Class A)		126,672
5,164	e	Spartan Motors, Inc		87,891
2,225		Standard Motor Products, Inc		33,442
3,196	e	Superior Industries International, Inc		69,545
7,069	*	Tenneco, Inc		247,698
1,339	*	TransDigm Group, Inc		54,176
2,515		Triumph Group, Inc		164,657
19,979	*	Visteon Corp		161,830
4,358	e	Wabash National Corp		63,758
7,443		Westinghouse Air Brake Technologies Corp		271,893
4,944		Winnebago Industries, Inc		145,947
		TOTAL TRANSPORTATION EQUIPMENT		4,723,974
TRANSPORTATION SERVICES - 0.48%
2,252	e	Ambassadors Group, Inc		80,014
1,275	e	Ambassadors International, Inc		42,406
1,934	*	Dynamex, Inc		49,375
5,926	*	HUB Group, Inc (Class A)		208,358
11,719	*	Lear Corp		417,314
5,729		Pacer International, Inc		134,746
4,809		Ship Finance International Ltd		142,731
		TOTAL TRANSPORTATION SERVICES		1,074,944
TRUCKING AND WAREHOUSING - 0.40%
3,220	e	Arkansas Best Corp		125,483
3,662	*	Celadon Group, Inc		58,226
4,663	e	Forward Air Corp		158,962
8,322		Heartland Express, Inc		135,649
2,364	*	Marten Transport Ltd		42,576
4,337	*	Old Dominion Freight Line		130,761
246	*e	Patriot Transportation Holding, Inc		21,328
2,220	*	Saia, Inc		60,517
1,367	*e	Universal Truckload Services, Inc		27,162
6,641	e	Werner Enterprises, Inc		133,816
		TOTAL TRUCKING AND WAREHOUSING		894,480
WATER TRANSPORTATION - 0.74%
9,538	*e	American Commercial Lines, Inc		248,465
2,294	e	Arlington Tankers Ltd		65,792
2,998		Double Hull Tankers, Inc		46,739
6,376	e	Eagle Bulk Shipping, Inc		142,886
2,777		Genco Shipping & Trading Ltd		114,579
4,369		General Maritime Corp		117,002
4,962		Golar LNG Ltd		82,667
3,494	*	Gulfmark Offshore, Inc		178,963
5,137		Horizon Lines, Inc (Class A)		168,288
3,586	*e	Hornbeck Offshore Services, Inc		138,993
2,429		Knightsbridge Tankers Ltd		74,109
4,112		Nordic American Tanker Shipping		167,934
5,839	*	Odyssey Marine Exploration, Inc		35,092
1,087	*	TBS International Ltd (Class A)		30,871

300

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,172	*	Ultrapetrol Bahamas Ltd	$	51,476
		TOTAL WATER TRANSPORTATION		1,663,856
WHOLESALE TRADE-DURABLE GOODS - 1.42%
1,540	*	1-800 Contacts, Inc		36,128
4,403		Agilysys, Inc		99,068
6,579		Applied Industrial Technologies, Inc		194,081
7,035		Barnes Group, Inc		222,869
6,372	*e	Beacon Roofing Supply, Inc		108,260
2,674	e	BlueLinx Holdings, Inc		28,050
4,196	e	Building Material Holding Corp		59,541
1,503		Castle (A.M.) & Co		53,973
4,198	*e	Conceptus, Inc		81,315
4,204	*	Digi International, Inc		61,967
2,616	*	Drew Industries, Inc		86,694
5,408	*	Genesis Microchip, Inc		50,619
1,057	*	Glu Mobile, Inc		14,692
1,367	*e	Hansen Medical, Inc		25,823
2,402	*e	Houston Wire & Cable Co		68,241
16,432		IKON Office Solutions, Inc		256,504
7,382	*	Insight Enterprises, Inc		166,612
4,225	*	Interline Brands, Inc		110,188
2,343	*	Keystone Automotive Industries, Inc		96,930
8,865	e	Knight Transportation, Inc		171,804
584		Lawson Products, Inc		22,601
6,940	*e	LKQ Corp		171,140
1,216	*	MWI Veterinary Supply, Inc		48,506
6,183		Owens & Minor, Inc		216,034
6,554	e	PEP Boys-Manny Moe & Jack		132,129
10,264	*	PSS World Medical, Inc		187,010
2,922	*	RSC Holdings, Inc		58,440
4,086	e	Ryerson Tull, Inc		153,838
3,748	*e	Solera Holdings, Inc		72,636
1,677	*	TomoTherapy, Inc		36,760
5,593	*	Tyler Technologies, Inc		69,409
1,998	*e	West Marine, Inc		27,492
		TOTAL WHOLESALE TRADE-DURABLE GOODS		3,189,354
WHOLESALE TRADE-NONDURABLE GOODS - 1.59%
7,697	*e	Akorn, Inc		53,802
14,789	*	Alliance One International, Inc		148,629
8,457	*e	Allscripts Healthcare Solutions, Inc		215,484
2,436	e	Andersons, Inc		110,424
4,874	*e	Beijing Med-Pharm Corp		52,006
5,396	*	Central European Distribution Corp		186,810
1,609	*e	Core-Mark Holding Co, Inc		57,892
4,468	*e	Fresh Del Monte Produce, Inc		111,923
936	*e	Green Mountain Coffee Roasters, Inc		73,701
6,065	*	Hain Celestial Group, Inc		164,604
1,726		Kenneth Cole Productions, Inc (Class A)		42,632
3,780	e	K-Swiss, Inc (Class A)		107,087
2,084	*	LSB Industries, Inc		44,556
718	*e	Maui Land & Pineapple Co, Inc		26,372
8,281		Men's Wearhouse, Inc		422,911

301

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,201		Myers Industries, Inc	$	92,884
2,012	e	Nash Finch Co		99,594
7,235		Nu Skin Enterprises, Inc (Class A)		119,378
2,312	*e	Nuco2, Inc		59,349
1,735	*	Perry Ellis International, Inc		55,815
3,333	*e	School Specialty, Inc		118,121
7,269	*e	Source Interlink Cos, Inc		36,200
3,304		Spartan Stores, Inc		108,735
5,274		Stride Rite Corp		106,851
14,186	*e	Terra Industries, Inc		360,608
6,542	*e	United Natural Foods, Inc		173,886
4,256	*	United Stationers, Inc		283,620
943	e	Valhi, Inc		15,371
2,331	*e	Volcom, Inc		116,853
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		3,566,098
		TOTAL COMMON STOCKS		224,148,072
		(Cost $195,715,916)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 30.74%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 2.09%
$      4,680,000		Federal Home Loan Bank (FHLB) 07/02/07		4,680,000
				4,680,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 28.65%
64,203,729		State Street Navigator Securities Lending Prime Portfolio		64,203,729
				64,203,729
		TOTAL SHORT-TERM INVESTMENTS		68,883,729
		(Cost $68,883,105)
		TOTAL PORTFOLIO - 130.75%		293,031,801
		(Cost $264,599,021)
		OTHER ASSETS & LIABILITIES, NET - (30.75)%		(68,909,789	)
		NET ASSETS - 100.00%	$	224,122,012
	*	Non-income producing.
	b	In bankruptcy.
	e	All or a portion of these securities are out on loan.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.

302

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INTERNATIONAL EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.50%
AGRICULTURAL SERVICES - 0.04%
10,225		Yara International ASA	$	306,607
		TOTAL AGRICULTURAL SERVICES		306,607
AMUSEMENT AND RECREATION SERVICES - 0.65%
17,430	e	Aristocrat Leisure Ltd		211,940
1,334	e*	bwin Interactive Entertainment		43,950
31,254		Ladbrokes plc		270,201
3,013	e	Lottomatica S.p.A.		119,541
5,200		Nintendo Co Ltd		1,897,186
11,130		OPAP S.A.		393,259
2,300		Oriental Land Co Ltd		120,102
2,436		Paddy Power plc		75,942
32,599		PartyGaming plc		20,072
23,071		Publishing & Broadcasting Ltd		382,325
16,945		Rank Group plc		63,376
13		Round One Corp		23,602
9,100		Sega Sammy Holdings, Inc		147,254
23,336		Sky City Entertainment Group Ltd		91,395
25,424	e	TABCORP Holdings Ltd		369,404
55,380		Tattersall's Ltd		220,257
17,559		William Hill plc		215,492
		TOTAL AMUSEMENT AND RECREATION SERVICES		4,665,298
APPAREL AND ACCESSORY STORES - 0.37%
2,900		Aoyama Trading Co Ltd		89,207
21,841		Burberry Group plc		299,173
2,500		Fast Retailing Co Ltd		177,939
39,000		Giordano International Ltd		19,229
24,416		Hennes & Mauritz AB (B Shares)		1,443,621
10,854		Inditex S.A.		638,857
		TOTAL APPAREL AND ACCESSORY STORES		2,668,026
APPAREL AND OTHER TEXTILE PRODUCTS - 0.10%
7,000		Asics Corp		86,490
9,000		Gunze Ltd		52,562
24,000		Mitsubishi Rayon Co Ltd		170,948
6,000		Nisshinbo Industries, Inc		83,806
7,000		Onward Kashiyama Co Ltd		89,350
900		Shimamura Co Ltd		96,149
32,000		Toyobo Co Ltd		91,571
5,000		Wacoal Holdings Corp		61,650
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		732,526
AUTO REPAIR, SERVICES AND PARKING - 0.08%
9,700		Aisin Seiki Co Ltd		355,894

303

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
5,100		NOK Corp	$	107,643
4,800		Park24 Co Ltd		48,189
7,800		Sumitomo Rubber Industries, Inc		93,096
		TOTAL AUTO REPAIR, SERVICES AND PARKING		604,822
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.04%
20,460		Inchcape plc		204,029
4,931		Jardine Cycle & Carriage Ltd		50,670
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		254,699
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.13%
11,724		Grafton Group plc		167,313
117,422		Kingfisher plc		531,860
5,738		Travis Perkins plc		217,787
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		916,960
BUSINESS SERVICES - 1.97%
8	*	Access Co Ltd		24,129
1,429		Acciona S.A.		388,756
6,579		Adecco S.A.		508,965
36,209		Aegis Group plc		99,237
11,336		Aggreko plc		129,818
1,300		Asatsu-DK, Inc		44,063
3,216	*	Atos Origin S.A.		201,879
14,207		Autostrade S.p.A.		471,828
4,819	*	Business Objects S.A.		188,240
6,823		Cap Gemini S.A.		498,821
9,499		Cintra Concesiones de Infraestructuras de Transporte S.A.		150,918
26,206		Computershare Ltd		250,051
3,300		CSK Holdings Corp		116,212
2,878	e	Dassault Systemes S.A.		181,444
101		Dentsu, Inc		286,328
36	e	eAccess Ltd		21,480
4,800	e*	Elpida Memory, Inc		210,781
52,646		Experian Group Ltd		662,530
24,782		First Choice Holidays plc		157,405
1,500		FUJI SOFT, Inc		35,283
95,000		Fujitsu Ltd		699,794
10,385		GN Store Nord		122,577
54		Goodwill Group, Inc		18,592
56,893		Group 4 Securicor plc		239,900
1,160		Hakuhodo DY Holdings, Inc		76,591
72,350		Hays plc		247,159
5,436		Indra Sistemas S.A.		135,554
56	*	KK DaVinci Advisors		48,888
4,800		Konami Corp		110,240
72,470		LogicaCMG plc		219,614
15,576		Michael Page International plc		163,641
22,251		Misys plc		104,209
2,050		Mitsubishi UFJ Lease & Finance Co Ltd		92,080
102,000		NEC Corp		525,107
5,500		Nomura Research Institute Ltd		161,782
65		NTT Data Corp		308,393
300		Obic Co Ltd		59,252

304

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
1,900		Oracle Corp Japan	$	83,858
1,000		Otsuka Corp		94,840
3,755		Promotora de Informaciones S.A.		82,384
4,749		Public Power Corp		133,841
333		Rakuten, Inc		111,951
2,683		Randstad Holdings NV		212,356
64,316		Sage Group plc		301,329
45,677		SAP AG.		2,335,333
11,200		Secom Co Ltd		528,381
15,714		Securitas AB (B Shares)		248,729
241		SGS S.A.		284,974
70,000		Singapore Post Ltd		58,124
1,004		Societe Des Autoroutes Paris-Rhin-Rhone		102,024
42,000		Tencent Holdings Ltd		168,839
3,771		Tietoenator Oyj		121,164
1,000		TIS, Inc		22,967
4,500		Trend Micro, Inc		145,288
1,040		USS Co Ltd		66,214
60,635		WPP Group plc		906,886
754		Yahoo! Japan Corp		255,627
		TOTAL BUSINESS SERVICES		14,226,650
CHEMICALS AND ALLIED PRODUCTS - 8.34%
12,470		Air Liquide		1,636,344
13,975		Akzo Nobel NV		1,206,312
1,500		Alfresa Holdings Corp		104,710
3,116	e	Altana AG.		75,306
63,000		Asahi Kasei Corp		413,906
27,500		Astellas Pharma, Inc		1,196,178
67,268		AstraZeneca plc		3,604,950
6,000	e	AstraZeneca plc (ADR)		320,880
25,789		BASF AG.		3,373,649
4,246		Beiersdorf AG.		302,223
14,000	e	Chugai Pharmaceutical Co Ltd		251,562
3,635		Ciba Specialty Chemicals AG.		236,185
10,918		Clariant AG.		176,729
9,460		CSL Ltd		704,179
11,000		Daicel Chemical Industries Ltd		71,589
35,900		Daiichi Sankyo Co Ltd		952,521
26,000		Dainippon Ink and Chemicals, Inc		100,321
7,419		DSM NV		365,388
12,900		Eisai Co Ltd		563,308
17,972	*	Elan Corp plc		391,188
1,900	e*	Elan Corp plc (ADR)		41,667
293,761		GlaxoSmithKline plc		7,652,474
2,126		H Lundbeck A/S		53,864
1,449		Haw Par Corp Ltd		7,247
8,907	e	Henkel KGaA		469,361
4,300		Hitachi Chemical Co Ltd		97,243
59,386		Imperial Chemical Industries plc		738,730
9,000		JSR Corp		217,170
11,000		Kansai Paint Co Ltd		96,154
27,000		Kao Corp		699,068
25,500		Kingboard Chemical Holdings Ltd		117,363

305

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
1,200		Kose Corp	$	33,971
17,000		Kuraray Co Ltd		199,273
16,000		Kyowa Hakko Kogyo Co Ltd		150,992
6,052		Linde AG.		728,141
2,326		Lonza Group AG.		213,412
12,891		L'Oreal S.A.		1,523,725
8,500		Mediceo Paltac Holdings Co Ltd		130,174
3,221		Merck KGaA		440,697
58,000		Mitsubishi Chemical Holdings Corp		532,434
19,000		Mitsubishi Gas Chemical Co, Inc		173,447
7,000		Nippon Kayaku Co Ltd		55,440
5,000		Nippon Shokubai Co Ltd		44,417
8,000		Nissan Chemical Industries Ltd		94,130
118,386		Novartis AG.		6,646,259
12,372		Novo Nordisk A/S (Class B)		1,345,766
2,319		Novozymes A/S (B Shares)		268,777
962		Omega Pharma S.A.		83,279
4,399		Orion Oyj (Class B)		110,090
31,384		Reckitt Benckiser plc		1,718,135
35,904		Roche Holding AG.		6,361,707
52,264		Sanofi-Aventis		4,222,267
3,000		Santen Pharmaceutical Co Ltd		73,054
21,400		Shin-Etsu Chemical Co Ltd		1,527,908
15,000		Shionogi & Co Ltd		244,502
18,000		Shiseido Co Ltd		384,235
58,000		Showa Denko KK		209,754
9,238		SSL International plc		80,684
81,000		Sumitomo Chemical Co Ltd		543,543
31,894		Symbion Health Ltd		110,231
5,348		Syngenta AG.		1,042,597
9,000		Taisho Pharmaceutical Co Ltd		178,558
14,000		Taiyo Nippon Sanso Corp		108,249
43,500		Takeda Pharmaceutical Co Ltd		2,810,163
10,000		Tanabe Seiyaku Co Ltd		118,897
38,000		Teijin Ltd		207,840
13,000		Tokuyama Corp		168,995
67,000		Toray Industries, Inc		495,091
22,000		Tosoh Corp		122,030
5,617		UCB S.A.		332,218
8,156	e	Zeltia S.A.		76,550
9,000		Zeon Corp		95,672
		TOTAL CHEMICALS AND ALLIED PRODUCTS		60,245,073
COMMUNICATIONS - 5.57%
4,331	*	Antena 3 de Television S.A.		90,013
8,269		Belgacom S.A.		365,973
58,709		British Sky Broadcasting plc		752,718
426,904		BT Group plc		2,841,279
132,165		Cable & Wireless plc		513,359
20,742		Carphone Warehouse Group plc		136,339
6,000		Cosmote Mobile Telecommunications S.A.		185,106
145,989	e	Deutsche Telekom AG.		2,688,753
6,986		Elisa Oyj		190,434
87,030		France Telecom S.A.		2,386,922

306

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
16		Fuji Television Network, Inc	$	32,198
4,500		Gestevision Telecinco S.A.		127,316
16,364		Hellenic Telecommunications Organization S.A.		507,188
1,600		Hikari Tsushin, Inc		67,201
73,000		Hutchison Telecommunications International Ltd		94,023
193,608		ITV plc		441,862
113	*	Jupiter Telecommunications Co		93,355
127		KDDI Corp		940,821
3,384		M6-Metropole Television		110,000
38,568		Mediaset S.p.A.		398,403
1,530	e	Mobistar S.A.		130,329
2,452		Modern Times Group AB (B Shares)		158,037
268		Nippon Telegraph & Telephone Corp		1,185,985
843		NTT DoCoMo, Inc		1,333,287
40,499		Portugal Telecom SGPS S.A.		559,985
4,220		ProSiebenSat.1 Media AG.		165,711
5,541		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		89,224
6,705		Publicis Groupe S.A.		296,296
99,274		Royal KPN NV		1,647,034
210,071		Seat Pagine Gialle S.p.A.		125,916
409,403		Singapore Telecommunications Ltd		910,521
9,530		Sky Network Television Ltd		41,355
5,704		Societe Television Francaise 1		197,152
2,451	*	Sogecable S.A.		102,428
1,177		Swisscom AG.		402,394
15,365		Tele2 AB (B Shares)		250,629
105,449		Telecom Corp of New Zealand Ltd		369,873
551,508		Telecom Italia S.p.A.		1,509,918
310,818		Telecom Italia S.p.A.		688,849
229,485		Telefonica S.A.		5,106,976
19,338		Telekom Austria AG.		481,571
43,054		Telenor ASA		841,571
11,000		Television Broadcasts Ltd		77,399
115,604	e	TeliaSonera AB		848,086
201,256		Telstra Corp Ltd		783,012
1,700		Tokyo Broadcasting System, Inc		52,021
707,500		Vodafone Group plc		2,370,699
194,738	e	Vodafone Group plc (ADR)		6,549,039
		TOTAL COMMUNICATIONS		40,238,560
DEPOSITORY INSTITUTIONS - 16.97%
15,000		77 Bank Ltd		97,350
93,376		ABN AMRO Holding NV		4,281,508
45,068		Allied Irish Banks plc		1,231,119
19,823		Alpha Bank S.A.		621,454
94,996		Australia & New Zealand Banking Group Ltd		2,333,214
396,402		Banca Intesa S.p.A.		2,955,469
44,805		Banca Intesa S.p.A.		313,805
56,592	e	Banca Monte dei Paschi di Siena S.p.A.		382,746
20,638		Banca Popolare di Milano		314,766
31,195	e	Banche Popolari Unite Scpa		792,905
182,580		Banco Bilbao Vizcaya Argentaria S.A.		4,464,976
13,306		Banco BPI S.A.		118,344
108,215		Banco Comercial Portugues S.A.		604,763

307

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
11,404		Banco Espirito Santo S.A.	$	254,255
18,725	e	Banco Popolare di Verona e Novara Scrl		538,391
43,590		Banco Popular Espanol S.A.		811,221
321,571		Banco Santander Central Hispano S.A.		5,911,113
70,024		Bank of East Asia Ltd		393,798
1,341		Bank of Ireland		27,089
48,830		Bank of Ireland		983,771
13,000		Bank of Kyoto Ltd		155,729
59,000		Bank of Yokohama Ltd		413,223
335,218		Barclays plc		4,663,858
42,823		BNP Paribas		5,086,671
187,000		BOC Hong Kong Holdings Ltd		445,225
86,838		Capitalia S.p.A.		861,428
39,000		Chiba Bank Ltd		345,691
6,131		Close Brothers Group plc		105,318
32,143		Commerzbank AG.		1,533,083
66,426		Commonwealth Bank of Australia		3,107,584
33,743		Credit Agricole S.A.		1,369,224
24,535		Danske Bank A/S		1,003,290
58,000		DBS Group Holdings Ltd		864,174
16,358		Depfa Bank plc		288,131
26,746		Deutsche Bank AG.		3,870,886
28,759		Dexia		898,320
37,363		DNB NOR Holding ASA		480,589
14,076		EFG Eurobank Ergasias S.A.		458,585
9,729		Erste Bank der Oesterreichischen Sparkassen AG.		758,287
63,480		Fortis		2,690,525
29,000		Fukuoka Financial Group, Inc		191,724
19,000		Gunma Bank Ltd		127,724
20,000		Hachijuni Bank Ltd/The		140,861
39,000		Hang Seng Bank Ltd		527,730
23,000		Hiroshima Bank Ltd/The		127,365
57,000		Hokuhoku Financial Group, Inc		184,265
589,169		HSBC Holdings plc		10,787,973
96,494		ING Groep NV		4,247,069
18,448		Investec plc		236,906
35,000		Joyo Bank Ltd		217,480
2,811	*	Jyske Bank		202,560
288,188		Lloyds TSB Group plc		3,203,601
24,616		Mediobanca S.p.A.		559,150
416		Mitsubishi UFJ Financial Group, Inc		4,584,606
34,000		Mitsui Trust Holdings, Inc		295,817
490		Mizuho Financial Group. Inc		3,385,182
83,741		National Australia Bank Ltd		2,910,219
20,717		National Bank of Greece S.A.		1,179,615
35,000		Nishi-Nippon City Bank Ltd		128,075
106,778		Nordea Bank AB		1,667,754
4,892		OKO Bank (Class A)		90,647
125,520		Oversea-Chinese Banking Corp		750,358
13,117		Piraeus Bank S.A.		477,990
1,696		Raiffeisen International Bank Holding AG.		267,882
294	e	Resona Holdings, Inc		702,312
482,044		Royal Bank of Scotland Group plc		6,099,537
13		Sapporo Hokuyo Holdings, Inc		143,291

308

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
74,000		Shinsei Bank Ltd	$	299,073
29,000		Shizuoka Bank Ltd		294,254
23,259		Skandinaviska Enskilda Banken AB (Class A)		748,862
18,992		Societe Generale		3,518,808
339	e	Sumitomo Mitsui Financial Group, Inc		3,160,296
63,000		Sumitomo Trust & Banking Co Ltd		600,045
9,000		Suruga Bank Ltd		113,423
25,584	e	Svenska Handelsbanken (A Shares)		715,417
2,820		Sydbank A/S		134,841
102,983		UBS A.G.		6,158,828
402,092		UniCredito Italiano S.p.A		3,591,327
62,000		United Overseas Bank Ltd		891,284
95,313		Westpac Banking Corp		2,069,700
7,000		Wing Hang Bank Ltd		77,294
		TOTAL DEPOSITORY INSTITUTIONS		122,643,023
EATING AND DRINKING PLACES - 0.35%
4,885		Autogrill S.p.A.		103,353
103,857		Compass Group plc		717,136
29,426		Enterprise Inns plc		405,453
16,400		Mitchells & Butlers plc		287,966
13,600		Punch Taverns plc		333,654
4,759		Sodexho Alliance S.A.		340,302
9,686		Whitbread plc		342,560
		TOTAL EATING AND DRINKING PLACES		2,530,424
EDUCATIONAL SERVICES - 0.01%
3,000		Benesse Corp		86,914
		TOTAL EDUCATIONAL SERVICES		86,914
ELECTRIC, GAS, AND SANITARY SERVICES - 5.28%
22,204		AGL Energy Ltd		285,315
25,311		Alinta Ltd		326,446
44,500		British Energy Group plc		480,061
6,442		Caltex Australia Ltd		128,997
188,444		Centrica plc		1,464,074
33,300		Chubu Electric Power Co, Inc		883,552
66,500		CLP Holdings Ltd		446,398
12,798		Contact Energy Ltd		88,868
32,059		E.ON AG.		5,352,656
7,800		Electric Power Development Co		309,956
32,564	e	Endesa S.A.		1,772,211
222,386	e	Enel S.p.A.		2,390,434
102,121		Energias de Portugal S.A.		564,692
22,796	e	Fortum Oyj		712,318
8,873		Gas Natural SDG S.A.		539,083
9,717		Gaz de France		490,174
9,600		Hokkaido Electric Power Co, Inc		208,399
197,100		Hong Kong & China Gas Ltd		415,338
66,500		Hong Kong Electric Holdings Ltd		335,448
44,224		Iberdrola S.A.		2,469,315
74,090		International Power plc		636,855
38,600		Kansai Electric Power Co, Inc		912,889
13,360		Kelda Group plc		251,791

309

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
17,369		Kelda Group plc (Class B)	$	68,188
18,700		Kyushu Electric Power Co, Inc		490,116
139,304		National Grid plc		2,055,473
3,954		Oest Elektrizitatswirts AG. (Class A)		202,191
98,000		Osaka Gas Co Ltd		364,144
574		Puma AG. Rudolf Dassler Sport		255,874
24,780		RWE AG.		2,628,667
44,303		Scottish & Southern Energy plc		1,284,532
44,460		SembCorp Industries Ltd		165,717
11,527		Severn Trent plc		318,341
48,288		Snam Rete Gas S.p.A.		285,532
18	*	Sociedad General de Aguas de Barcelona S.A.		655
2,514		Sociedad General de Aguas de Barcelona S.A. (Class A)		92,183
50,000		Sojitz Holdings Corp		223,481
52,472		Suez S.A.		2,999,742
20,800		Tohoku Electric Power Co, Inc		466,575
62,600		Tokyo Electric Power Co, Inc		2,013,649
112,000		Tokyo Gas Co Ltd		531,085
5,955	e	Union Fenosa S.A.		317,927
45,053		United Utilities plc		640,012
6,677		Vector Ltd		13,994
15,852		Veolia Environnement		1,245,032
15,852	v*	Veolia Environnement (Rights)		18,022
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		38,146,402
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.70%
107,012		ABB Ltd		2,412,883
7,700		Advantest Corp		335,258
118,906	e	Alcatel S.A.		1,663,217
7,300		Alps Electric Co Ltd		72,937
62,269		ARM Holdings plc		182,155
439	e	Bang & Olufsen A/S (B Shares)		52,494
552		Barco NV		51,241
52,000	*	Chartered Semiconductor Manufacturing Ltd		45,735
5,742	*	CSR plc		89,953
9,000	e	Dainippon Screen Manufacturing Co Ltd		67,920
12,500		Electrolux AB (Series B)		295,961
41,208		EMI Group plc		220,779
763,337		Ericsson (LM) (B Shares)		3,044,870
9,800		Fanuc Ltd		1,011,491
15,000		Fisher & Paykel Appliances Holdings Ltd		40,227
25,900		Fisher & Paykel Healthcare Corp		67,257
107,000	*	Foxconn International Holdings Ltd		306,561
28,000		Fuji Electric Holdings Co Ltd		142,025
8,396		Gamesa Corp Tecnologica S.A.		303,733
1,800		Hirose Electric Co Ltd		236,704
2,800		Hitachi High-Technologies Corp		72,640
174,000		Hitachi Ltd		1,231,312
21,400		Hoya Corp		709,905
6,400		Ibiden Co Ltd		412,950
38,485	*	Infineon Technologies AG.		636,114
58,388		Koninklijke Philips Electronics NV		2,474,306
1,806		Kudelski S.A.		63,150
8,300		Kyocera Corp		881,766

310

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
1,400		Mabuchi Motor Co Ltd	$	85,739
102,000		Matsushita Electric Industrial Co Ltd		2,021,350
17,000		Matsushita Electric Works Ltd		217,356
16,000		Minebea Co Ltd		90,434
97,000		Mitsubishi Electric Corp		898,558
11,900		Murata Manufacturing Co Ltd		895,362
1,000	*	NEC Electronics Corp		26,263
9,000		NGK Spark Plug Co Ltd		156,332
5,500		Nidec Corp		322,679
8,000		Nitto Denko Corp		403,228
1,177		NKT Holding A/S		116,838
210,808		Nokia Oyj		5,920,603
11,200		Omron Corp		293,990
7,600		Pioneer Corp		103,364
34,000		Ricoh Co Ltd		786,636
1,300		Rinnai Corp		40,532
5,200		Rohm Co Ltd		461,477
3,000		Sanken Electric Co Ltd		29,021
73,000	e*	Sanyo Electric Co Ltd		119,532
2,619		Schindler Holding AG.		173,974
11,162		Schneider Electric S.A.		1,563,889
52,000		Sharp Corp		985,790
3,500		Shinko Electric Industries		75,323
52,000		Sony Corp		2,669,253
6,800		Stanley Electric Co Ltd		147,593
34,120		STMicroelectronics NV		657,565
5,800		Sumco Corp		290,610
6,000		Taiyo Yuden Co Ltd		138,790
5,062		Tandberg ASA		112,933
6,500		TDK Corp		629,091
61,845	e	Terna Rete Elettrica Nazionale S.p.A.		213,281
12,544		Thomson		239,895
3,500		Toyota Boshoku Corp		88,458
5,500		Ushio, Inc		122,006
3,351		Valeo S.A.		179,800
10,000		Venture Corp Ltd		102,513
59,569		Vivendi Universal S.A.		2,562,523
9,000		Yaskawa Electric Corp		102,300
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		41,170,425
ENGINEERING AND MANAGEMENT SERVICES - 0.23%
31,762		Capita Group plc		461,084
12,208		Downer EDI Ltd		76,078
2,899		Fugro NV		183,658
11,000		JGC Corp		206,124
1,400		Meitec Corp		40,106
7,348		SBM Offshore NV		280,253
23,440		Serco Group plc		211,303
7,883		WorleyParsons Ltd		226,755
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,685,361
FABRICATED METAL PRODUCTS - 0.26%
46,466		Amcor Ltd		294,242
2,021		Geberit AG.		344,353

311

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
9,000		Hitachi Cable Ltd	$	52,726
14,300		JS Group Corp		289,919
30,032		Rexam plc		299,103
7,000		Sanwa Shutter Corp		40,600
7,350		Ssab Svenskt Stal AB (Series A)		300,356
3,105		Ssab Svenskt Stal AB (Series B)		117,659
7,400		Toyo Seikan Kaisha Ltd		143,043
		TOTAL FABRICATED METAL PRODUCTS		1,882,001
FOOD AND KINDRED PRODUCTS - 3.79%
30,000		Ajinomoto Co, Inc		345,547
21,000		Asahi Breweries Ltd		325,674
16,820		C&C Group plc		226,428
107,954		Cadbury Schweppes plc		1,465,197
239		Carlsberg A/S (Class A)		27,596
1,512		Carlsberg A/S (Class B)		182,767
5,390		Coca Cola Hellenic Bottling Co S.A.		248,034
27,077		Coca-Cola Amatil Ltd		218,614
2,000		Coca-Cola West Japan Co Ltd		46,455
44,649		CSR Ltd		131,411
2,282		Danisco A/S		170,140
138,886		Diageo plc		2,886,733
799		East Asiatic Co Ltd A.S.		43,943
3,896		Ebro Puleva S.A.		83,753
333		Givaudan S.A.		328,373
8,078		Greencore Group plc		61,142
22,710		Groupe Danone		1,834,200
12,600		Heineken NV		738,634
3,600		House Foods Corp		55,256
6,482		Iaws Group plc		135,906
9,407		InBev NV		745,088
3,000		Ito En Ltd		98,565
79,891		J Sainsbury plc		933,902
13,000		Kaneka Corp		108,874
6,405		Kerry Group plc (Class A)		179,266
8,000		Kikkoman Corp		118,834
39,000		Kirin Brewery Co Ltd		583,378
13,982		Lion Nathan Ltd		109,733
12,000		Meiji Dairies Corp		76,442
17,000		Meiji Seika Kaisha Ltd		77,760
20,468		Nestle S.A.		7,777,298
10,000		Nichirei Corp		51,452
8,000		Nippon Meat Packers, Inc		96,766
11,000		Nisshin Seifun Group, Inc		108,805
3,900		Nissin Food Products Co Ltd		130,730
28,000		Olam International Ltd		56,483
3,592	b,m,v*	Parmalat Finanziaria S.p.A.		0
80,200		Parmalat S.p.A.		338,978
4,646		Pernod-Ricard S.A.		1,025,778
3,500		Q.P. Corp		33,629
8,594	e	Royal Numico NV		446,592
22,230	e	Sampo Oyj (A Shares)		640,066
10,000	e	Sapporo Holdings Ltd		63,565
39,873		Scottish & Newcastle plc		511,129

312

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
3,483		Suedzucker AG.	$	77,233
45,500		Swire Pacific Ltd (Class A)		506,438
7,000		Takara Holdings, Inc		46,680
25,180		Tate & Lyle plc		285,749
84,000		Tingyi Cayman Islands Holding Corp		97,726
5,000		Toyo Suisan Kaisha Ltd		90,186
67,448		Unilever plc		2,177,886
18,000		Want Want Holdings Ltd		41,455
5,200		Yakult Honsha Co Ltd		131,488
5,000		Yamazaki Baking Co Ltd		42,687
		TOTAL FOOD AND KINDRED PRODUCTS		27,366,444
FOOD STORES - 1.56%
30,836	e	Carrefour S.A.		2,165,729
58,384		Coles Myer Ltd		797,139
835		Colruyt S.A.		174,289
3,848		Delhaize Group		377,956
3,300		FamilyMart Co Ltd		86,972
46,927		Goodman Fielder Ltd		96,572
13,265		Jeronimo Martins SGPS S.A.		78,387
3,178		Kesko Oyj (B Shares)		210,841
81,201	*	Koninklijke Ahold NV		1,018,495
3,200		Lawson, Inc		110,684
42,300		Seven & I Holdings Co Ltd		1,209,162
32,832		Sonae SPGS S.A.		93,207
408,996		Tesco plc		3,421,947
61,950		Woolworths Ltd		1,415,739
		TOTAL FOOD STORES		11,257,119
FURNITURE AND FIXTURES - 0.05%
30,812	*	MFI Furniture plc		83,882
1,649		Neopost S.A.		241,280
		TOTAL FURNITURE AND FIXTURES		325,162
FURNITURE AND HOMEFURNISHINGS STORES - 0.16%
88,169		DSG International plc		279,459
24,431		Harvey Norman Holdings Ltd		109,278
26,050		Kesa Electricals plc		163,461
2,100		Nitori Co Ltd		104,837
2,100		Shimachu Co Ltd		56,467
4,250		Yamada Denki Co Ltd		443,858
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		1,157,360
GENERAL BUILDING CONTRACTORS - 0.97%
16,498		Amec plc		193,318
21,239		Balfour Beatty plc		187,314
14,585		Barratt Developments plc		289,107
5,073		Bellway plc		127,715
3,902		Berkeley Group Holdings plc		138,525
1,665		Bilfinger Berger AG.		147,590
18,000		Cheung Kong Infrastructure Holdings Ltd		66,415
22,447		CRH plc		1,105,200
4,100		Daito Trust Construction Co Ltd		195,232
28,000		Daiwa House Industry Co Ltd		400,203

313

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
25,241		Fletcher Building Ltd	$	240,408
19,896		George Wimpey plc		199,160
54,500	*	Haseko Corp		161,167
5,248		Hellenic Technodomiki Tev S.A.		68,632
2,091		Hochtief AG.		227,701
1,600		Imerys S.A.		161,970
45,000		Kajima Corp		188,080
7,091		Leighton Holdings Ltd		247,166
18,518		Lend Lease Corp Ltd		290,683
30,000		Obayashi Corp		163,431
13,905		Persimmon plc		321,545
21,000		Sekisui Chemical Co Ltd		162,300
27,000		Sekisui House Ltd		359,897
27,000		Shimizu Corp		156,425
18,965		Skanska AB (B Shares)		406,108
48,000	e	Taisei Corp		162,255
27,739		Taylor Woodrow plc		199,697
3,090		Titan Cement Co S.A.		178,137
11,000		Toda Corp		58,483
6,418		YIT OYJ		201,421
		TOTAL GENERAL BUILDING CONTRACTORS		7,005,285
GENERAL MERCHANDISE STORES - 0.57%
31,900		Aeon Co Ltd		592,120
11,000		Daimaru, Inc		131,381
8,000		Hankyu Department Stores, Inc		85,171
9,700		Isetan Co Ltd		159,367
30,000		Keio Corp		199,747
82,000	e	Kintetsu Corp		246,988
87,434		Marks & Spencer Group plc		1,098,094
15,600		Marui Co Ltd		197,101
17,000		Mitsukoshi Ltd		85,079
3,959		PPR		690,589
14,000		Takashimaya Co Ltd		176,880
54,000		Tokyu Corp		360,909
8,000		UNY Co Ltd		94,830
		TOTAL GENERAL MERCHANDISE STORES		4,118,256
HEALTH SERVICES - 0.19%
1,278		Coloplast A/S (Class B)		103,539
36,000		Fraser and Neave Ltd		128,327
9,711		Fresenius Medical Care AG.		446,345
8,714		Getinge AB (B Shares)		187,732
8,050		Intertek Group plc		157,980
32,550		Parkway Holdings Ltd		85,217
13,283		Sonic Healthcare Ltd		169,299
359		Straumann Holding AG.		100,640
		TOTAL HEALTH SERVICES		1,379,079
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.69%
11,286	e	Abertis Infraestructuras S.A.		350,014
12,350		ACS Actividades Cons y Servicios S.A.		785,191
17,369		Biffa plc		94,134
11,197		Bouygues S.A.		938,144

314

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
8,000		Chiyoda Corp	$	152,439
2,218	e	Fomento de Construcciones y Contratas S.A.		199,549
3,149	e	Grupo Ferrovial S.A.		309,563
28,902		Multiplex Group		120,318
11,000	e	Nishimatsu Construction Co Ltd		38,840
8,000		Okumura Corp		40,942
58,281		Transurban Group		395,148
20,420	e	Vinci S.A.		1,524,089
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		4,948,371
HOLDING AND OTHER INVESTMENT OFFICES - 2.68%
23,155		3i Group plc		538,993
39,000		CapitaCommercial Trust		74,683
53,700		CapitaMall Trust		148,274
70,843		CFS Gandel Retail Trust		128,703
87,010		Commonwealth Property Office Fund		123,436
105,101		GPT Group		414,276
6,700		Great Portland Estates plc		88,872
3,724		Groupe Bruxelles Lambert S.A.		462,893
3,724	v*	Groupe Bruxelles Lambert S.A.		3,478
21,379	*	Immoeast AG		301,695
47,345		ING Industrial Fund		93,758
124,600		iShares MSCI EAFE Index Fund		10,063,942
1,700		Jafco Co Ltd		78,164
29		Japan Prime Realty Investment Corp		113,107
20		Japan Real Estate Investment Corp		235,045
18		Japan Retail Fund Investment Corp		156,011
29,200		JFE Holdings, Inc		1,814,960
35,400		Kiwi Income Property Trust		45,035
24,231		Land Securities Group plc		843,859
106,000		Link Real Estate Investment Trust		234,624
19,333		Macquarie Communications Infrastructure Group		103,459
132,563		Macquarie Infrastructure Group		403,775
96,202		Macquarie Office Trust		136,047
91,511		Man Group plc		1,113,133
24,000		Melco International Development		35,682
24		Nippon Building Fund, Inc		332,929
1,218		Nobel Biocare Holding AG.		397,593
44,000		Noble Group Ltd		49,565
12		Nomura Real Estate Office Fund, Inc		129,367
51		NTT Urban Development Corp		98,753
2,204		PSP Swiss Property AG.		123,501
4,714	e	Sacyr Vallehermoso S.A.		226,153
39,000		Suntec Real Estate Investment Trust		49,522
58,000		Wharf Holdings Ltd		231,647
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		19,394,934
HOTELS AND OTHER LODGING PLACES - 0.21%
10,043		Accor S.A.		887,809
14,807		Intercontinental Hotels Group plc		367,817
61,153		Shangri-La Asia Ltd		147,815
20,000		United Overseas Land Ltd		76,043
		TOTAL HOTELS AND OTHER LODGING PLACES		1,479,484

315

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.57%
4,517		Alfa Laval AB	$	272,150
5,524		Alstom RGPT		921,142
18,000		Amada Co Ltd		225,113
1,852		Andritz AG.		121,967
6,500		ASM Pacific Technology		47,085
24,231	*	ASML Holding NV		665,755
34,370		Atlas Copco AB (A Shares)		572,476
20,244	e	Atlas Copco AB (B Shares)		316,675
77,402	*	Brambles Ltd		797,968
54,800		Canon, Inc		3,213,638
1,937		Cargotec Corp (B Shares)		119,119
10,900	e	Casio Computer Co Ltd		169,952
7,918	*	Charter plc		174,719
16,700		Citizen Watch Co Ltd		150,602
3,000		Daifuku Co Ltd		41,356
12,000		Daikin Industries Ltd		437,077
18,000	e	Ebara Corp		82,567
29,950		FKI plc		75,457
25,000		FUJIFILM Holdings Corp		1,117,387
4,000		Glory Ltd		87,547
2,974		Heidelberger Druckmaschinen		143,463
4,900		Hitachi Construction Machinery Co Ltd		170,255
3,708		Husqvarna AB (A Shares)		52,352
14,489		Husqvarna AB (B Shares)		205,104
17,130		IMI plc		202,900
61,000		Ishikawajima-Harima Heavy Industries Co Ltd		222,475
1,100		Itochu Techno-Science Corp		43,136
20,000		Japan Steel Works Ltd		304,325
46,300		Komatsu Ltd		1,341,917
2,000		Komori Corp		46,875
23,000		Konica Minolta Holdings, Inc		338,988
56,000		Kubota Corp		452,669
5,700		Kurita Water Industries Ltd		178,958
8,187	*	Logitech International S.A.		217,751
5,400		Makita Corp		240,566
38,238		Meggitt plc		234,959
6,334		Metso Oyj		372,767
165,000		Mitsubishi Heavy Industries Ltd		1,056,747
81,000		Mitsui & Co Ltd		1,616,517
35,000		Mitsui Engineering & Shipbuilding Co Ltd		186,625
3,500	e	Mitsumi Electric Co Ltd		125,422
18,000		NTN Corp		155,198
3,751		OCE NV		73,158
5,899	e*	Ocean RIG ASA		43,793
29,000	e	Oki Electric Industry Co Ltd		53,824
8,000		Okuma Holdings, Inc		126,387
3,000	e	OSG Corp		41,331
1,834		Rheinmetall AG.		170,088
4,873,521		Rolls-Royce Group plc (B Shares)		9,982
8,098		Safran S.A.		207,090
50,335		Sandvik AB		1,014,435
6,300		Seiko Epson Corp		182,370
20,742		SKF AB (B Shares)		433,986

316

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
3,000		SMC Corp	$	398,773
4,310		Solarworld AG.		198,384
173		Sulzer AG.		223,609
29,000		Sumitomo Heavy Industries Ltd		327,856
5,126		Technip S.A.		423,677
56,500		Techtronic Industries Co		75,439
6,700		THK Co Ltd		167,788
9,000		Tokyo Electron Ltd		662,126
2,000		Tokyo Seimitsu Co Ltd		77,291
42,480		Tomkins plc		220,660
5,651	e	Tomra Systems ASA		49,317
159,000	e	Toshiba Corp		1,385,333
11,000		Toyota Tsusho Corp		254,433
326	e*	Unaxis Holding AG.		172,763
9,235	*	Vestas Wind Systems A/S		606,021
3,307		Wartsila Oyj (B Shares)		217,464
1,474		Wincor Nixdorf AG.		134,402
9,600		Yokogawa Electric Corp		128,689
5,248	*	Zardoya Otis S.A.		20,101
5,248	e	Zardoya Otis S.A.		205,615
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		25,825,906
INSTRUMENTS AND RELATED PRODUCTS - 0.96%
173,491		BAE Systems plc		1,399,984
55,211		Cobham plc		224,601
2,537		Cochlear Ltd		130,998
4,394		Elekta AB		76,023
14,602		Finmeccanica S.p.A.		448,659
39,554	*	Invensys plc		301,274
1,900		Keyence Corp		415,077
6,864	e	Luxottica Group S.p.A.		266,647
16,000		Nikon Corp		445,588
17,000		Nippon Electric Glass Co Ltd		299,724
12,000		Olympus Corp		468,173
211,000		PCCW Ltd		129,893
2,154		Phonak Holding AG.		193,083
6,302	e*	Qiagen NV		112,456
48,504		Smith & Nephew plc		600,965
1,742		Swatch Group AG.		494,849
2,290		Swatch Group AG.		129,523
3,053		Synthes, Inc		366,026
8,400		Terumo Corp		324,555
1,253	*	William Demant Holding		124,100
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		6,952,198
INSURANCE AGENTS, BROKERS AND SERVICE - 0.82%
193,881		HBOS plc		3,813,507
2,671		MLP AG.		51,326
42,903		QBE Insurance Group Ltd		1,131,995
47,454		Suncorp-Metway Ltd		810,478
41,554		Unipol S.p.A.		142,410
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		5,949,716

317

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
INSURANCE CARRIERS - 5.27%
18,369	e	ABC Learning Centres Ltd	$	107,483
74,391		Aegon NV		1,464,165
21,687		Alleanza Assicurazioni S.p.A		283,487
23,015		Allianz AG.		5,367,038
96,533		AMP Ltd		826,506
54,302	e	Assicurazioni Generali S.p.A.		2,177,227
130,944		Aviva plc		1,943,828
42,081		AXA Asia Pacific Holdings Ltd		264,581
80,425		AXA S.A.		3,457,122
2,290		CNP Assurances		292,614
606		Codan A/S		66,148
28,853		Corp Mapfre S.A.		142,766
55,949		Credit Suisse Group		3,971,879
3,681		Fondiaria-Sai S.p.A		177,962
93,830		Friends Provident plc		335,875
86,632		Insurance Australia Group Ltd		417,874
13,525		Irish Life & Permanent plc		341,441
9,162		KBC Groep NV		1,234,748
11,384	e	Mediolanum S.p.A.		94,759
41,400		Millea Holdings, Inc		1,702,048
63,000		Mitsui Sumitomo Insurance Co Ltd		808,273
11,231		Muenchener Rueckver AG.		2,059,665
269,363		Old Mutual plc		907,682
125,911		Prudential plc		1,792,255
34,089		Resolution plc		426,602
163,489		Royal & Sun Alliance Insurance Group plc		475,630
5,482	e	SCOR		148,809
44,000		Sompo Japan Insurance, Inc		538,152
105,009		Standard Life plc		693,097
10,479		Storebrand ASA		162,322
1,738		Swiss Life Holding		458,220
18,311		Swiss Reinsurance Co		1,669,965
9,850		T&D Holdings, Inc		665,209
776	*	Topdanmark A/S		132,322
1,226		TrygVesta A.S.		96,336
1,405		Wiener Staedtische Allgemeine Versicherung AG.		100,128
7,447		Zurich Financial Services AG.		2,302,094
		TOTAL INSURANCE CARRIERS		38,106,312
JUSTICE, PUBLIC ORDER AND SAFETY - 0.02%
120,729	*	PAN Fish ASA		130,363
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		130,363
LEATHER AND LEATHER PRODUCTS - 0.51%
10,464		Adidas-Salomon AG.		667,310
3,556		Hermes International		401,990
12,593		LVMH Moet Hennessy Louis Vuitton S.A.		1,449,011
18,528		ThyssenKrupp AG.		1,096,543
28,000		Yue Yuen Industrial Holdings		86,798
		TOTAL LEATHER AND LEATHER PRODUCTS		3,701,652
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.11%
13,938		Brisa-Auto Estradas de Portugal S.A.		187,351
82,000		ComfortDelgro Corp Ltd		116,913

318

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
20,000	e	Keihin Electric Express Railway Co Ltd	$	132,038
14,000		Keisei Electric Railway Co Ltd		81,960
30,000		SMRT Corp Ltd		38,649
24,615		Stagecoach Group plc		89,629
40,000	e	Tobu Railway Co Ltd		180,814
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		827,354
LUMBER AND WOOD PRODUCTS - 0.02%
6,492		Nobia AB		80,853
3,374	*	Sonae Industria SGPS S.A.		49,044
		TOTAL LUMBER AND WOOD PRODUCTS		129,897
METAL MINING - 2.05%
58,187		Alumina Ltd		385,362
180,057		BHP Billiton Ltd		5,380,235
13,875		Boliden AB		287,651
8,251		Iluka Resources Ltd		43,006
16,261		Newcrest Mining Ltd		313,839
15,507		Orica Ltd		390,746
27,728	*	Paladin Resources Ltd		192,671
14,722	e	Rio Tinto Ltd		1,228,076
52,124		Rio Tinto plc		3,987,685
800	e	Sumitomo Titanium Corp		74,694
1,228		Umicore		266,256
31,694		Xstrata plc		1,886,838
24,252		Zinifex Ltd		384,604
		TOTAL METAL MINING		14,821,663
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.10%
1,300		Aderans Co Ltd		27,373
2,890		Amer Sports Oyj		71,331
6,848	e	Bulgari S.p.A.		109,831
24,025		Futuris Corp Ltd		56,587
9,500		Namco Bandai Holdings, Inc		150,064
3,300		Sankyo Co Ltd		138,961
8,200		Yamaha Corp		170,404
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		724,551
MISCELLANEOUS RETAIL - 0.87%
2,400		Circle K Sunkus Co Ltd		41,885
26,857		Compagnie Financiere Richemont AG.		1,605,277
3,526		DCC plc		118,974
1,398		Douglas Holding AG.		91,184
2,500		EDION Corp		32,471
1,116		Folli-Follie S.A.		45,173
45,184		Home Retail Group		414,304
109,000		Hutchison Whampoa Ltd		1,082,048
2,705	*	KarstadtQuelle AG.		91,601
1,400		Matsumotokiyoshi Co Ltd		30,738
14,410	*	Meinl European Land Ltd		413,035
8,340	e	Metro AG.		689,313
11,295		Next plc		453,463
43,100		Nippon Mining Holdings, Inc		412,326
42,472		Origin Energy Ltd		357,131

319

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
23,344		Pacific Brands Ltd	$	68,168
1,100		Ryohin Keikaku Co Ltd		68,089
4,243		Sanoma-WSOY Oyj		134,077
84,904		Signet Group plc		177,130
		TOTAL MISCELLANEOUS RETAIL		6,326,387
MOTION PICTURES - 0.03%
4,301	*	Premiere AG.		102,898
6,500		Toho Co Ltd		117,705
		TOTAL MOTION PICTURES		220,603
NONDEPOSITORY INSTITUTIONS - 0.35%
3,570		Acom Co Ltd		128,071
4,200		Aeon Credit Service Co Ltd		66,642
3,850		Aiful Corp		110,545
17,864		Cattles plc		139,907
17,030		Challenger Financial Services Group Ltd		83,900
8,200		Credit Saison Co Ltd		213,426
3,273		D Carnegie AB		57,051
3,984		Deutsche Postbank AG.		349,318
1,300		Hitachi Capital Corp		19,817
6,902		Hypo Real Estate Holding AG.		446,081
26,651		ICAP plc		262,673
1,902	e	Perpetual Trustees Australia Ltd		126,408
3,500		Promise Co Ltd		107,988
11,862		Provident Financial plc		166,028
5,510	e	Takefuji Corp		185,291
8,506		Tullett Prebon plc		75,991
		TOTAL NONDEPOSITORY INSTITUTIONS		2,539,137
NONMETALLIC MINERALS, EXCEPT FUELS - 0.19%
76,000		Itochu Corp		880,035
3,175		Solvay S.A.		499,790
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		1,379,825
OIL AND GAS EXTRACTION - 2.15%
9,006		Acergy S.A.		202,749
7,675		Aker Kvaerner ASA		194,272
175,680		BG Group plc		2,879,846
40,497	e*	DET Norske Oljeselskap		84,668
1,000		Idemitsu Kosan Co Ltd		111,907
41		Inpex Holdings, Inc		383,124
1,000		Japan Petroleum Exploration Co		70,609
9,774	*	Lundin Petroleum AB		97,366
6,383		Neste Oil Oyj		250,127
7,932		Petroleum Geo-Services ASA		198,066
10,384		ProSafe ASA		166,039
8,858	*	Renewable Energy Corp A.S.		343,056
30,884		Santos Ltd		364,663
12,703	*	SeaDrill Ltd		272,514
3,000		Singapore Petroleum Co Ltd		11,284
4,454	*	TGS Nopec Geophysical Co ASA		91,131
109,627		Total S.A.		8,888,363

320

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
24,079		Woodside Petroleum Ltd	$	930,840
		TOTAL OIL AND GAS EXTRACTION		15,540,624
PAPER AND ALLIED PRODUCTS - 0.97%
76,041		Anglo American plc		4,464,504
1,426		Billerud AB		21,657
2,769		Holmen AB (B Shares)		116,973
3,000		Kokuyo Co Ltd		35,190
239		Mayr-Melnhof Karton AG.		54,209
45		Nippon Paper Group, Inc		149,839
7,727		Norske Skogindustrier ASA		111,205
44,000		OJI Paper Co Ltd		213,901
17,031		PaperlinX Ltd		53,606
29,890		Stora Enso Oyj (R Shares)		562,391
27,969		Svenska Cellulosa AB (B shares)		467,724
1,900		Uni-Charm Corp		107,718
26,939	e	UPM-Kymmene Oyj		662,975
		TOTAL PAPER AND ALLIED PRODUCTS		7,021,892
PERSONAL SERVICES - 0.05%
8,726		Davis Service Group plc		108,622
90,076		Rentokil Initial plc		289,107
		TOTAL PERSONAL SERVICES		397,729
PETROLEUM AND COAL PRODUCTS - 4.68%
259,586		BP plc		3,123,420
120,065	e	BP plc (ADR)		8,661,489
134,084		ENI S.p.A.		4,861,539
4,175		Hellenic Petroleum S.A.		67,155
2,260		Motor Oil Hellas Corinth Refineries S.A.		59,213
8,517		OMV AG.		568,130
15,080		Premier Farnell plc		60,227
40,826		Repsol YPF S.A.		1,616,242
188,470		Royal Dutch Shell plc (A Shares)		7,672,792
140,973		Royal Dutch Shell plc (B Shares)		5,876,602
8,200		Showa Shell Sekiyu KK		101,683
32,567	e	Statoil ASA		1,010,417
14,000		TonenGeneral Sekiyu KK		136,550
		TOTAL PETROLEUM AND COAL PRODUCTS		33,815,459
PRIMARY METAL INDUSTRIES - 2.37%
8,682	e	Acerinox S.A.		211,774
622		Bekaert S.A.		91,222
122,330		BHP Billiton plc		3,398,187
34,963		BlueScope Steel Ltd		306,001
17,000		Daido Steel Co Ltd		115,722
14,000		DOWA HOLDINGS CO Ltd		149,154
8,000	m,v*	Dowa Mining Co Ltd		65
18,000		Fujikura Ltd		133,686
29,000		Furukawa Electric Co Ltd		160,159
672		Hoganas AB (Class B)		19,983
10,595		Johnson Matthey plc		358,205
136,000		Kobe Steel Ltd		515,813
59,000		Mitsubishi Materials Corp		321,665
29,000		Mitsui Mining & Smelting Co Ltd		135,310

321

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
45,360		Mittal Steel Co NV	$	2,835,100
16,000		Nippon Light Metal Co Ltd		41,748
299,000		Nippon Steel Corp		2,103,317
42,000		Nisshin Steel Co Ltd		191,662
36,165		Norsk Hydro ASA		1,387,122
29,401		OneSteel Ltd		159,930
6,036		Outokumpu Oyj		203,014
2,046		Salzgitter AG.		392,117
37,200		Sumitomo Electric Industries Ltd		553,862
211,000		Sumitomo Metal Industries Ltd		1,240,504
29,000		Sumitomo Metal Mining Co Ltd		628,683
1,500		Toho Titanium Co Ltd		60,803
5,000		Tokyo Steel Manufacturing Co Ltd		78,302
2,452		Vallourec		783,968
5,647		Viohalco S.A.		87,424
5,692		Voestalpine AG.		478,472
		TOTAL PRIMARY METAL INDUSTRIES		17,142,974
PRINTING AND PUBLISHING - 0.91%
11,054		APN News & Media Ltd		54,766
5,391		Arnoldo Mondadori Editore S.p.A.		52,773
31,000		Dai Nippon Printing Co Ltd		462,619
15,278		Daily Mail & General Trust		233,636
8,245		De La Rue plc		128,267
11,168		Emap plc		183,272
9,364		Eniro AB		118,760
26,329		Independent News & Media plc		133,454
59,366		John Fairfax Holdings Ltd		236,185
5,820		PagesJaunes Groupe S.A.		122,513
41,557		Pearson plc		700,038
35,535		Reed Elsevier NV		675,368
65,590		Reed Elsevier plc		847,681
64,405		Reuters Group plc		802,875
2,026		Schibsted ASA		92,596
73,000		Singapore Press Holdings Ltd		221,372
28,000		Toppan Printing Co Ltd		300,880
13,701		Trinity Mirror plc		144,435
13,030		United Business Media plc		206,117
15,092		Wolters Kluwer NV		460,233
40,171		Yell Group plc		371,067
		TOTAL PRINTING AND PUBLISHING		6,548,907
RAILROAD TRANSPORTATION - 0.42%
79		Central Japan Railway Co		833,493
175		East Japan Railway Co		1,348,412
22,287		Firstgroup plc		296,051
29,000	e	Odakyu Electric Railway Co Ltd		178,828
85		West Japan Railway Co		395,780
		TOTAL RAILROAD TRANSPORTATION		3,052,564
REAL ESTATE - 2.48%
3,000		Aeon Mall Co Ltd		92,240
29,500		Allgreen Properties Ltd		40,372
50,275		Ascendas Real Estate Investment Trust		96,727

322

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
5,722		Bovis Homes Group plc	$	102,107
26,832		British Land Co plc		718,006
13,969		Brixton plc		122,300
78,000		CapitaLand Ltd		413,250
7,908		Castellum AB		95,082
43,364		Centro Properties Group		311,827
2,968	m	Centro Retail Group		4,255
77,000		Cheung Kong Holdings Ltd		1,008,976
24,400		City Developments Ltd		275,831
416		Cofinimmo		79,216
1,857		Corio NV		145,453
146,559		DB RREEF Trust		243,309
7,090		Fabege AB		77,679
598	e	Gecina S.A.		99,939
14,673		Hammerson plc		420,186
107,000		Hang Lung Properties Ltd		369,464
44,000		Henderson Land Development Co Ltd		299,944
32,000		Hopewell Holdings		130,596
33,179		Hysan Development Co Ltd		88,373
1,540		Icade		118,623
22,440	*	IMMOFINANZ Immobilien Anlagen AG.		326,799
74,978		Investa Property Group		185,106
4,309		IVG Immobilien AG.		169,165
19,000		Keppel Land Ltd		108,892
29,478		Kerry Properties Ltd		185,138
1,180		Klepierre		199,817
6,988		Kungsleden AB		86,965
6,600		Leopalace21 Corp		225,539
13,582		Liberty International plc		310,691
72,971		Macquarie Goodman Group		414,135
51,808		Mirvac Group		249,894
61,000		Mitsubishi Estate Co Ltd		1,654,969
44,000		Mitsui Fudosan Co Ltd		1,233,246
124,410		New World Development Ltd		311,345
2,600		Nomura Real Estate Holdings, Inc		84,445
4,680		ORIX Corp		1,233,588
74,000		Shui On Land Ltd		66,395
50,000		Shun TAK Holdings Ltd		73,589
4,000		Singapore Land Ltd		29,778
68,972		Sino Land Co		143,599
24,294		Slough Estates plc		303,026
1,436	v	Stockland		10,653
70,318		Stockland Trust Group		484,426
20,000		Sumitomo Realty & Development Co Ltd		651,329
71,000		Sun Hung Kai Properties Ltd		854,318
13,000		Tokyo Tatemono Co Ltd		161,846
20,000		Tokyu Land Corp		212,662
2,369		Unibail		605,835
1,401		Unibail-Rodamco		361,035
1,059		Wereldhave NV		147,521
82,763		Westfield Group		1,396,482
1,089		Wihlborgs Fastigheter AB		19,208
15,500		Wing Tai Holdings Ltd		40,370
		TOTAL REAL ESTATE		17,895,561

323

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.88%
5,682		Ansell Ltd	$	58,703
37,380		Bayer AG.		2,815,697
32,400	e	Bridgestone Corp		694,561
6,740		Continental AG.		947,234
21,000		Denki Kagaku Kogyo KK		94,516
7,374		Michelin (C.G.D.E.) (Class B)		1,030,473
31,000		Mitsui Chemicals, Inc		235,451
4,762		Nokian Renkaat Oyj		166,830
146,181		Pirelli & C S.p.A.		173,866
10,000		Sumitomo Bakelite Co Ltd		70,014
2,764		Uponor Oyj		107,460
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		6,394,805
SECURITY AND COMMODITY BROKERS - 1.28%
40,735		Amvescap plc		524,873
8,784		Australian Stock Exchange Ltd		361,736
11,294		Babcock & Brown Ltd		306,164
68,000		Daiwa Securities Group, Inc		722,950
10,498		Deutsche Boerse AG.		1,178,715
70		E*Trade Securities Co Ltd		74,245
3,030		Hellenic Exchanges S.A.		79,073
54,500		Hong Kong Exchanges and Clearing Ltd		769,377
336,859		Legal & General Group plc		1,010,597
7,896		London Stock Exchange Group plc		213,480
13,080		Macquarie Bank Ltd		939,474
4,900		Matsui Securities Co Ltd		43,699
14,000		Mitsubishi Securities Co		156,867
21,000		Nikko Cordial Corp		273,897
91,500		Nomura Holdings, Inc		1,777,238
3,655		OMX AB		109,556
457		SBI Holdings, Inc		144,973
6,072		Schroders plc		155,125
27,000		Shinko Securities Co Ltd		139,439
40,000		Singapore Exchange Ltd		256,632
		TOTAL SECURITY AND COMMODITY BROKERS		9,238,110
SOCIAL SERVICES - 0.04%
8,805		Vedior NV		263,126
		TOTAL SOCIAL SERVICES		263,126
SPECIAL TRADE CONTRACTORS - 0.06%
5,000		COMSYS Holdings Corp		57,910
2,544		KCI Konecranes Oyj		106,313
7,000		Kinden Corp		60,778
3,585		Kone Oyj (Class B)		225,345
		TOTAL SPECIAL TRADE CONTRACTORS		450,346
STONE, CLAY, AND GLASS PRODUCTS - 1.23%
48,000	e	Asahi Glass Co Ltd		647,205
6,000		Central Glass Co Ltd		33,529
12,053		Cimpor Cimentos de Portugal S.A.		113,848
17,054	e	Compagnie de Saint-Gobain		1,910,434

324

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
9,522		Cookson Group plc	$	134,859
5,323		CRH plc		263,058
2,705		FLSmidth & Co A/S		211,817
35,557		Hanson plc		767,122
10,308		Holcim Ltd		1,113,239
3,156		Italcementi S.p.A.		97,440
23,904		James Hardie Industries NV		176,399
7,693	e	Lafarge S.A.		1,402,072
14,000		NGK Insulators Ltd		343,827
31,000		Nippon Sheet Glass Co Ltd		141,516
1,281	*	RHI AG.		69,922
44,840		Rinker Group Ltd		714,549
15,000		Sumitomo Osaka Cement Co Ltd		39,735
44,000		Taiheiyo Cement Corp		194,621
12,000		Toto Ltd		103,881
45,000		UBE Industries Ltd		138,527
3,597		Wienerberger AG.		264,489
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		8,882,089
TOBACCO PRODUCTS - 0.91%
13,166	e	Altadis S.A.		870,133
79,658		British American Tobacco plc		2,716,774
34,882		Imperial Tobacco Group plc		1,608,268
232		Japan Tobacco, Inc		1,143,585
13,933		Swedish Match AB		268,766
		TOTAL TOBACCO PRODUCTS		6,607,526
TRANSPORTATION BY AIR - 0.56%
1,781		Aeroports de Paris		206,681
6,208		Air France-KLM		288,856
32,000		All Nippon Airways Co Ltd		121,742
48,036		Auckland International Airport Ltd		121,374
18,195		BBA Aviation plc		98,763
29,639	*	British Airways plc		247,897
70,000		Cathay Pacific Airways Ltd		174,086
11,789		Deutsche Lufthansa AG.		328,821
439		Flughafen Wien AG.		43,297
20,712		Iberia Lineas Aereas de Espana		103,087
47,000		Japan Airlines Corp		88,412
29,474		Macquarie Airports		100,720
50,072		Qantas Airways Ltd		237,571
17,100	*	Ryanair Holdings plc		114,081
46,427		SABMiller plc		1,175,452
3,165	*	SAS AB		72,788
29,000		Singapore Airlines Ltd		356,382
67,000		Singapore Technologies Engineering Ltd		157,800
		TOTAL TRANSPORTATION BY AIR		4,037,810
TRANSPORTATION EQUIPMENT - 5.27%
38,000		Cosco Corp Singapore Ltd		92,809
46,538		DaimlerChrysler AG.		4,283,982
1,054		DaimlerChrysler AG.		96,915
24,500		Denso Corp		958,211
131		D'ieteren S.A.		58,561

325

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
16,271		European Aeronautic Defence and Space Co	$	528,055
36,518		Fiat S.p.A.		1,084,690
34,931		GKN plc		278,067
58,000		Hankyu Hanshin Holdings, Inc		306,271
11,000		Hino Motors Ltd		65,761
80,700		Honda Motor Co Ltd		2,930,398
53,500		Johnson Electric Holdings Ltd		29,711
9,000		JTEKT Corp		162,546
66,000		Kawasaki Heavy Industries Ltd		269,257
54,000		Keppel Corp Ltd		441,749
6,094		Lagardere S.C.A.		528,524
6,327		MAN AG.		903,240
6,000		NHK Spring Co Ltd		57,749
20,000		NSK Ltd		206,768
7,633		Peugeot S.A.		614,920
450		Porsche AG.		803,159
9,426		Renault S.A.		1,511,828
224		Rieter Holding AG.		117,092
92,751		Rolls-Royce Group plc		998,697
19,304		Scania AB (B Shares)		470,830
29,000		SembCorp Marine Ltd		93,001
3,400		Shimano, Inc		116,603
43,801		Siemens AG.		6,272,377
19,556		Smiths Group plc		463,785
4,385		Thales S.A.		267,955
2,000		Tokai Rika Co Ltd		54,655
2,900		Toyoda Gosei Co Ltd		81,768
9,600		Toyota Industries Corp		446,045
136,200		Toyota Motor Corp		8,589,643
3,839		Trelleborg AB (B Shares)		105,643
12,292	e	Volkswagen AG.		1,954,820
23,640		Volvo AB (A Shares)		484,189
55,860	e	Volvo AB (B Shares)		1,110,635
9,200		Yamaha Motor Co Ltd		266,940
		TOTAL TRANSPORTATION EQUIPMENT		38,107,849
TRANSPORTATION SERVICES - 0.19%
8,498		Arriva plc		116,711
26,099	*	Asciano Group		224,144
140		Kuoni Reisen Holding		84,174
62,065		MTR Corp		147,054
6,669		National Express Group plc		141,967
1,768		Stolt-Nielsen S.A.		58,889
27,639		Toll Holdings Ltd		338,695
10,189		TUI AG.		280,590
		TOTAL TRANSPORTATION SERVICES		1,392,224
TRUCKING AND WAREHOUSING - 0.45%
39,700		Deutsche Post AG.		1,285,130
10,278	e	DSV AS		201,313
12,000		Kamigumi Co Ltd		103,968
5,000		Mitsubishi Logistics Corp		82,307
40,000		Nippon Express Co Ltd		227,383
10,000		Seino Holdings Corp		94,658

326

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
22,443		TNT NV	$	1,013,342
18,000		Yamato Transport Co Ltd		254,450
		TOTAL TRUCKING AND WAREHOUSING		3,262,551
WATER TRANSPORTATION - 0.46%
55		AP Moller - Maersk A/S		661,537
8,775		Carnival plc		419,373
719		Compagnie Maritime Belge S.A.		50,190
1,048		D/S Torm AS		39,104
1,175		Euronav NV		42,741
2,424	e	Frontline Ltd		111,419
26,000		Kawasaki Kisen Kaisha Ltd		317,089
2,674		Kuehne & Nagel International AG.		246,283
55,000		Mitsui OSK Lines Ltd		745,741
23,000		Neptune Orient Lines Ltd		79,729
57,000		Nippon Yusen Kabushiki Kaisha		522,771
11,300		Orient Overseas International Ltd		110,478
		TOTAL WATER TRANSPORTATION		3,346,455
WHOLESALE TRADE-DURABLE GOODS - 1.02%
6,565		AGFA-Gevaert NV		169,346
15,078		Assa Abloy AB (Class B)		331,793
800		Autobacs Seven Co Ltd		24,961
29,892		Boral Ltd		221,892
7,426		Buhrmann NV		113,873
16,963		Bunzl plc		234,829
3,000		Canon Marketing Japan Inc		61,370
4,910	e	Compagnie Generale d'Optique Essilor International S.A.		584,809
18,668		Electrocomponents plc		97,997
5,600	*	Fortescue Metals Group Ltd		159,980
22,218		Hagemeyer NV		114,488
6,182		Kingspan Group plc		173,394
116,500		Nissan Motor Co Ltd		1,247,237
4,155		Rautaruukki Oyj		265,428
11,143	e*	Securitas Direct AB (B Shares)		30,057
11,143		Securitas Systems AB (B Shares)		37,850
38,000	e	Softbank Corp		818,880
54,800		Sumitomo Corp		999,089
18,849		Wesfarmers Ltd		729,837
34,024		Wolseley plc		816,566
1,755		Zodiac S.A.		134,832
		TOTAL WHOLESALE TRADE-DURABLE GOODS		7,368,508
WHOLESALE TRADE-NONDURABLE GOODS - 1.29%
1,383		Axfood AB		48,915
8,551		Billabong International Ltd		129,834
2,104		Casino Guichard Perrachon S.A.		212,748
4,125		Celesio AG.		268,164
53,700		Esprit Holdings Ltd		682,283
104,589		Foster's Group Ltd		564,397
113,300		Li & Fung Ltd		407,817
82,000		Marubeni Corp		674,538
69,700		Mitsubishi Corp		1,826,282
63,000		Nippon Oil Corp		585,123

327

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
1,728		Oriflame Cosmetics S.A.	$	81,117
46,836		Orkla ASA		883,087
1,136		Societe BIC S.A.		83,663
3,500		Suzuken Co Ltd		109,331
89,783	e	Unilever NV		2,786,307
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		9,343,606
		TOTAL COMMON STOCKS
		(Cost $537,167,498)		719,181,544
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 6.19%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.09%
$ 640,000		Federal Home Loan Bank , 07/02/07		640,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 6.10%
44,099,719		State Street Navigator Securities Lending Prime Portfolio		44,099,719
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $44,739,634)		44,739,719
		TOTAL PORTFOLIO - 105.69%
		(Cost $581,907,132)		763,921,263
		OTHER ASSETS & LIABILITIES, NET - (5.69)%		(41,103,076	)
		NET ASSETS - 100.00%	$	722,818,187
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.

328

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
INSTITUTIONAL INTERNATIONAL EQUITY INDEX FUND
June 30, 2007
			% OF
			MARKET
COUNTRY		VALUE	VALUE
DOMESTIC
UNITED STATES OF AMERICA	$	54,900,577	7.19	%
TOTAL DOMESTIC		54,900,577	7.19	%
FOREIGN
AUSTRALIA		44,463,298	5.82
AUSTRIA		4,496,024	0.59
BELGIUM		8,807,658	1.15
DENMARK		5,967,690	0.78
FINLAND		11,662,224	1.53
FRANCE		73,211,031	9.58
GERMANY		59,697,733	7.82
GREECE		4,789,878	0.63
HONG KONG		12,018,798	1.57
IRELAND		5,770,432	0.76
ITALY		26,927,309	3.53
JAPAN		150,043,525	19.64
NETHERLANDS		25,385,431	3.31
NEW ZEALAND		1,119,785	0.15
NORWAY		7,334,726	0.96
PORTUGAL		2,713,099	0.35
SINGAPORE		7,427,452	0.97
SPAIN		28,706,112	3.76
SWEDEN		18,076,113	2.37
SWITZERLAND		47,119,644	6.17
UNITED KINGDOM		163,282,724	21.37
TOTAL FOREIGN		709,020,686	92.81
TOTAL PORTFOLIO	$	763,921,263	100.00	%

329

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SOCIAL CHOICE EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.15%
AGRICULTURAL PRODUCTION-CROPS - 0.01%
1,772		Chiquita Brands International, Inc	$	33,597
		TOTAL AGRICULTURAL PRODUCTION-CROPS		33,597
AMUSEMENT AND RECREATION SERVICES - 0.88%
11,723	*	Activision, Inc		218,868
1,088		International Speedway Corp (Class A)		57,348
109,232		Walt Disney Co		3,729,180
		TOTAL AMUSEMENT AND RECREATION SERVICES		4,005,396
APPAREL AND ACCESSORY STORES - 0.72%
7,063		American Eagle Outfitters, Inc		181,237
933	*	AnnTaylor Stores Corp		33,047
1,535		Bebe Stores, Inc		24,575
1,936	*	Charming Shoppes, Inc		20,967
7,029	*	Chico's FAS, Inc		171,086
5,580		Foot Locker, Inc		121,644
32,491		Gap, Inc		620,578
12,693	*	Kohl's Corp		901,584
18,185		Limited Brands, Inc		499,178
9,472		Nordstrom, Inc		484,209
1,000	*	Pacific Sunwear Of California, Inc		22,000
151	*	Payless Shoesource, Inc		4,764
4,978		Ross Stores, Inc		153,322
1,873		Stage Stores, Inc		39,258
		TOTAL APPAREL AND ACCESSORY STORES		3,277,449
APPAREL AND OTHER TEXTILE PRODUCTS - 0.14%
77		Columbia Sportswear Co		5,288
1,241		Kellwood Co		34,897
3,798		Liz Claiborne, Inc		141,665
77		Phillips-Van Heusen Corp		4,664
1,841		Polo Ralph Lauren Corp		180,621
3,110		VF Corp		284,814
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		651,949
AUTO REPAIR, SERVICES AND PARKING - 0.06%
8,449	*	Hertz Global Holdings, Inc		224,490
221		Ryder System, Inc		11,890
609	*	Wright Express Corp		20,870
		TOTAL AUTO REPAIR, SERVICES AND PARKING		257,250
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.08%
533		Advance Auto Parts		21,602
761		Asbury Automotive Group, Inc		18,987
1,118	*	Autozone, Inc		152,741

330

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,248	*	Carmax, Inc	$	108,324
781	*	Copart, Inc		23,891
1,741	*	Rush Enterprises, Inc (Class A)		37,815
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		363,360
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.22%
1,537		Fastenal Co		64,339
89,062		Home Depot, Inc		3,504,590
64,217		Lowe's Cos, Inc		1,970,820
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		5,539,749
BUSINESS SERVICES - 6.64%
202	*	24/7 Real Media, Inc		2,369
10,136	*	3Com Corp		41,862
764	*	3D Systems Corp		19,001
22,599		Accenture Ltd (Class A)		969,271
626		Administaff, Inc		20,965
21,380	*	Adobe Systems, Inc		858,407
2,493	*	Alliance Data Systems Corp		192,659
3,154	*	Ariba, Inc		31,256
6,100	*	Art Technology Group, Inc		16,226
7,978	*	Autodesk, Inc		375,604
38,645		Automatic Data Processing, Inc		1,873,123
49	*	Avocent Corp		1,421
13,349	*	BEA Systems, Inc		182,748
6,444	*	BearingPoint, Inc		47,106
1,800	*	Blackboard, Inc		75,816
755	*	Blue Coat Systems, Inc		37,388
1,978	*	Bottomline Technologies, Inc		24,428
305		Brink's Co		18,876
36,299	*	CMGI, Inc		70,783
5,009	*	CNET Networks, Inc		41,024
253	*	CSG Systems International, Inc		6,707
1,713	*	Cerner Corp		95,020
2,189	*	Checkfree Corp		87,998
4,688	*	Ciber, Inc		38,348
3,952	*	Cogent Communications Group, Inc		118,046
4,284	*	Cogent, Inc		62,932
600		Cognex Corp		13,506
9,926	*	Compuware Corp		117,722
3,942	*	Convergys Corp		95,554
2,597	*	DST Systems, Inc		205,708
1,527		Deluxe Corp		62,011
551	*	Digital River, Inc		24,933
500	*	Earthlink, Inc		3,735
196	*	Eclipsys Corp		3,881
10,968	*	Electronic Arts, Inc		519,006
1,398	*	Equinix, Inc		127,875
7,440	*	Expedia, Inc		217,918
985		Fair Isaac Corp		39,518
705	*	First Advantage Corp (Class A)		16,222
25,131		First Data Corp		821,030
9,249	*	Fiserv, Inc		525,343
149	*	Gartner, Inc		3,664

331

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
989	*	Gerber Scientific, Inc	$	11,492
2,062	*	Getty Images, Inc		98,584
6,705	*	Google, Inc (Class A)		3,509,263
1,153		Jack Henry & Associates, Inc		29,690
295	*	Hudson Highland Group, Inc		6,310
8,139		IMS Health, Inc		261,506
3,898	*	Infocrossing, Inc		71,996
3,379	*	Informatica Corp		49,908
24,769	*	Innovative Solutions & Support, Inc		575,136
1,537		Interactive Data Corp		41,161
3,905	*	Internap Network Services Corp		56,310
11,014	*	Intuit, Inc		331,301
3,346	*	Ipass, Inc		18,135
5,165	*	Iron Mountain, Inc		134,961
1,546	*	Kinetic Concepts, Inc		80,346
2,612		Lamar Advertising Co (Class A)		163,929
4,517	*	Lawson Software, Inc		44,673
2,066	*	Lionbridge Technologies		12,169
700	*	Liquidity Services, Inc		13,146
685	*	MPS Group, Inc		9,158
2,659		Manpower, Inc		245,266
1,737		Marchex, Inc (Class B)		28,348
3,762		Mastercard, Inc (Class A)		624,003
1,620	*	Mentor Graphics Corp		21,335
307,177	d	Microsoft Corp		9,052,506
3,102	*	Midway Games, Inc		19,729
4,769		MoneyGram International, Inc		133,294
4,251	*	Monster Worldwide, Inc		174,716
1,922		NIC, Inc		13,146
1,141	*	Ness Technologies, Inc		14,844
13,549	*	Novell, Inc		105,547
21,610		Omnicom Group, Inc		1,143,601
3,947	*	Opsware, Inc		37,536
1,376	*	Parametric Technology Corp		29,735
926	*	PeopleSupport, Inc		10,510
381		Portfolio Recovery Associates, Inc		22,868
3,000	*	Premiere Global Services, Inc		39,060
1,100		QAD, Inc		9,130
2,786	*	Quest Software, Inc		45,105
3,252	*	RealNetworks, Inc		26,569
5,434		Robert Half International, Inc		198,341
3,512	*	Salesforce.com, Inc		150,524
8,530	*	Sapient Corp		65,937
7,289		ServiceMaster Co		112,688
2,416	*	Smith Micro Software, Inc		36,385
756	*	Sohu.com, Inc		24,184
24,577	*	Sonus Networks, Inc		209,396
2,784	*	Spherion Corp		26,142
131,832	*	Sun Microsystems, Inc		693,436
1,913	*	SYKES Enterprises, Inc		36,328
37,342	*	Symantec Corp		754,308
8,575	*	TIBCO Software, Inc		77,604
381	*	TeleTech Holdings, Inc		12,375
5,869	*	Tiens Biotech Group USA, Inc		22,478

332

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,034		Total System Services, Inc	$	119,043
480	*	Travelzoo, Inc		12,763
882	*	Trizetto Group, Inc		17,076
11,298	*	Unisys Corp		103,264
2,536		United Online, Inc		41,819
2,006	*	United Rentals, Inc		65,275
533	*	Universal Compression Holdings, Inc		38,627
2,095	*	Vasco Data Security International		47,682
8,577	*	VeriSign, Inc		272,148
457		Viad Corp		19,272
714	*	aQuantive, Inc		45,553
46,609	*	eBay, Inc		1,499,878
424	*	eFunds Corp		14,963
1,420	*	iGate Corp		11,388
400	*	inVentiv Health, Inc		14,644
1,522		infoUSA, Inc		15,555
		TOTAL BUSINESS SERVICES		30,182,108
CHEMICALS AND ALLIED PRODUCTS - 8.96%
5,201	*	Abraxis BioScience, Inc		115,618
837	*	Adams Respiratory Therapeutics, Inc		32,969
19,373		Air Products & Chemicals, Inc		1,557,008
1,000		Alberto-Culver Co		23,720
141	*	Alexion Pharmaceuticals, Inc		6,353
1,038	*	Alkermes, Inc		15,155
46,418	*	Amgen, Inc		2,566,451
1,775	*	Arena Pharmaceuticals, Inc		19,507
828	*	Array Biopharma, Inc		9,663
2,400	*	Auxilium Pharmaceuticals, Inc		38,256
7,297		Avery Dennison Corp		485,105
13,953		Avon Products, Inc		512,773
675		Balchem Corp		12,265
6,402	*	Barr Pharmaceuticals, Inc		321,572
3,820	*	Bentley Pharmaceuticals, Inc		46,375
1,801	*	BioMarin Pharmaceuticals, Inc		32,310
5,547	*	Bioenvision, Inc		32,062
2,091	*	Biogen Idec, Inc		111,869
2,778	*	Bradley Pharmaceuticals, Inc		60,310
91,024		Bristol-Myers Squibb Co		2,872,717
2,442		Cabot Corp		116,435
4,139	*	Calgon Carbon Corp		48,012
2,700	*	Caraco Pharmaceutical Laboratories Ltd		40,986
3,549	*	Cell Genesys, Inc		11,889
1,507	*	Cephalon, Inc		121,148
2,017		Clorox Co		125,256
27,419		Colgate-Palmolive Co		1,778,122
305	*	Cypress Bioscience, Inc		4,044
2,313		Dade Behring Holdings, Inc		122,867
6,260	*	Dendreon Corp		44,321
513	*	Digene Corp		30,806
10,556	*	Durect Corp		40,641
14,685		Ecolab, Inc		627,050
1,257	*	Encysive Pharmaceuticals, Inc		2,237
2,629	*	Enzon Pharmaceuticals, Inc		20,638

333

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
533		Estee Lauder Cos (Class A)	$	24,257
18,167	*	Forest Laboratories, Inc		829,324
24,141	*	Genentech, Inc		1,826,508
10,144	*	Genzyme Corp		653,274
1,241	*	Geron Corp		8,737
38,718	*	Gilead Sciences, Inc		1,501,097
1,993		H.B. Fuller Co		59,571
3,929	*	Human Genome Sciences, Inc		35,047
595	*	Idenix Pharmaceuticals, Inc		3,511
1,029	*	Idexx Laboratories, Inc		97,374
861	*	Immucor, Inc		24,082
2,806	*	Inverness Medical Innovations, Inc		143,162
1,261	*	Invitrogen Corp		92,999
16,659	*	King Pharmaceuticals, Inc		340,843
39,506		Eli Lilly & Co		2,207,595
2,341		Lubrizol Corp		151,112
1,145	*	MGI Pharma, Inc		25,614
3,834		Mannatech, Inc		60,922
1,642	*	Medarex, Inc		23,464
3,690		Medicis Pharmaceutical Corp (Class A)		112,693
101,649		Merck & Co, Inc		5,062,120
7,816	*	Millennium Pharmaceuticals, Inc		82,615
17,940	*	Mylan Laboratories, Inc		326,329
1,486	*	Nabi Biopharmaceuticals		6,836
700		Nalco Holding Co		19,215
3,519	*	Nastech Pharmaceutical Co, Inc		38,392
3,988	*	Neurocrine Biosciences, Inc		44,785
3,709	*	Noven Pharmaceuticals, Inc		86,976
419	*	OraSure Technologies, Inc		3,427
2,607	*	PDL BioPharma, Inc		60,743
10,301		PPG Industries, Inc		784,009
1,544	*	Pacific Ethanol, Inc		20,381
2,802	*	Par Pharmaceutical Cos, Inc		79,100
3,532	*	Penwest Pharmaceuticals Co		44,044
2,265	*	Pharmion Corp		65,572
607	*	Pioneer Cos, Inc		20,863
1,685	*	Pozen, Inc		30,448
24,835		Praxair, Inc		1,787,872
4,086	*	Prestige Brands Holdings, Inc		53,036
122,770		Procter & Gamble Co		7,512,296
1,394	*	Progenics Pharmaceuticals, Inc		30,069
5,415		RPM International, Inc		125,141
14,120		Rohm & Haas Co		772,082
3,561	*	Salix Pharmaceuticals Ltd		43,800
65,522		Schering-Plough Corp		1,994,490
2,174	*	Sciele Pharma, Inc		51,219
3,152	*	Sepracor, Inc		129,295
7,464		Sigma-Aldrich Corp		318,489
1,509	*	Somaxon Pharmaceuticals, Inc		18,349
1,886	*	SuperGen, Inc		10,486
759	*	Tanox, Inc		14,732
1,881	*	USANA Health Sciences, Inc		84,156
235	*	United Therapeutics Corp		14,984
2,516	*	VCA Antech, Inc		94,828

334

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
3,265		Valspar Corp	$	92,759
2,300	*	Vertex Pharmaceuticals, Inc		65,688
10,400	*	Warner Chilcott Ltd (Class A)		188,136
8,544	*	Watson Pharmaceuticals, Inc		277,936
1,848	*	Zymogenetics, Inc		26,999
		TOTAL CHEMICALS AND ALLIED PRODUCTS		40,710,393
COMMUNICATIONS - 5.27%
226,689		AT&T, Inc		9,407,594
11,530		Alltel Corp		778,852
10,657	*	American Tower Corp (Class A)		447,594
381	*	Anixter International, Inc		28,655
900	*	Authorize.Net Holdings, Inc		16,101
11,388	*	Cablevision Systems Corp (Class A)		412,132
1,400		CenturyTel, Inc		68,670
22,738		Citadel Broadcasting Corp		146,660
609		Citizens Communications Co		9,299
153	*	Cox Radio, Inc (Class A)		2,179
2,565	*	Crown Castle International Corp		93,033
4,091	*	Crown Media Holdings, Inc (Class A)		29,455
703	*	Dobson Communications Corp (Class A)		7,810
2,598		Embarq Corp		164,664
1,770		Entercom Communications Corp (Class A)		44,055
500	*	Entravision Communications Corp (Class A)		5,215
1,390	*	FiberTower Corp		6,019
400	*	Fisher Communications, Inc		20,316
1,258		Global Payments, Inc		49,880
4,482		Gray Television, Inc		41,548
761		Hearst-Argyle Television, Inc		18,340
9,992	*	IAC/InterActiveCorp		345,823
40,466	*	Level 3 Communications, Inc		236,726
22,615	*	Liberty Global, Inc (Class A)		928,120
30,249	*	Liberty Media Holding Corp (Interactive A)		675,460
10,093	*	Liberty Media Corp - Capital (Series A)		1,187,744
6,436	*	Lin TV Corp (Class A)		121,061
1,600	*	Mediacom Communications Corp (Class A)		15,504
3,398	*	NII Holdings, Inc		274,355
708	*	NeuStar, Inc (Class A)		20,511
3,884	*	Novatel Wireless, Inc		101,062
4,752	*	Radio One, Inc (Class D)		33,549
3,009	*	SAVVIS, Inc		148,976
678	*	SBA Communications Corp (Class A)		22,774
813		Salem Communications Corp (Class A)		9,016
4,944	*	Spanish Broadcasting System, Inc (Class A)		21,259
94,919		Sprint Nextel Corp		1,965,772
800		Telephone & Data Systems, Inc		50,056
350	*	Terremark Worldwide, Inc		2,258
23,423	*	Time Warner Cable, Inc (Class A)		917,479
5,545	*	TiVo, Inc		32,106
208		USA Mobility, Inc		5,566
114,345		Verizon Communications, Inc		4,707,584
11,230		Windstream Corp		165,755
15,049	*	XM Satellite Radio Holdings, Inc (Class A)		177,127
		TOTAL COMMUNICATIONS		23,963,714

335

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
DEPOSITORY INSTITUTIONS - 9.22%
36,736		BB&T Corp	$	1,494,420
155,326		Bank of America Corp		7,593,888
31,637		Bank of New York Co., Inc		1,311,037
700		City National Corp		53,263
8,000		Comerica, Inc		475,760
2,333		Commerce Bancorp, Inc		86,298
1,465		Compass Bancshares, Inc		101,056
39,917		Fifth Third Bancorp		1,587,499
1,370		First Horizon National Corp		53,430
7,540		Fremont General Corp		81,130
4,792		Hudson City Bancorp, Inc		58,558
4,245		IndyMac Bancorp, Inc		123,827
28,070		Keycorp		963,643
4,974		M&T Bank Corp		531,721
10,048		Marshall & Ilsley Corp		478,586
22,409		Mellon Financial Corp		985,996
46,023		National City Corp		1,533,486
5,583		New York Community Bancorp, Inc		95,023
8,545		Northern Trust Corp		548,931
22,718		PNC Financial Services Group, Inc		1,626,154
8,275		Popular, Inc		132,979
49,834		Regions Financial Corp		1,649,505
12,295		Sovereign Bancorp, Inc		259,916
17,530		State Street Corp		1,199,052
25,083		SunTrust Banks, Inc		2,150,616
100	*	Superior Bancorp		1,023
11,471		Synovus Financial Corp		352,160
102,127		US Bancorp		3,365,085
3,150		UnionBanCal Corp		188,055
91,475		Wachovia Corp		4,688,094
65,013		Washington Mutual, Inc		2,772,154
148,333		Wells Fargo & Co		5,216,872
1,977		Zions Bancorporation		152,051
		TOTAL DEPOSITORY INSTITUTIONS		41,911,268
EATING AND DRINKING PLACES - 1.32%
6,027	*	AFC Enterprises		104,207
2,027		Applebees International, Inc		48,851
609		Bob Evans Farms, Inc		22,442
7,297		Darden Restaurants, Inc		320,995
78,122		McDonald's Corp		3,965,473
700		O'Charleys, Inc		14,112
200		Ruby Tuesday, Inc		5,266
36,721	*	Starbucks Corp		963,559
900	*	Cheesecake Factory		22,068
10,990		Tim Hortons, Inc		337,943
5,740		Wendy's International, Inc		210,945
		TOTAL EATING AND DRINKING PLACES		6,015,861
EDUCATIONAL SERVICES - 0.00%**
38	*	Laureate Education, Inc		2,343
		TOTAL EDUCATIONAL SERVICES		2,343

336

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 5.10%
52,123	*	AES Corp	$	1,140,451
12,265		AGL Resources, Inc		496,487
12,523		Alliant Energy Corp		486,519
3,623		Aqua America, Inc		81,481
12,209		Atmos Energy Corp		367,003
18,470		Avista Corp		398,029
3,626		CH Energy Group, Inc		163,061
13,995		CMS Energy Corp		240,714
5,319		Cascade Natural Gas Corp		140,475
24,090		Centerpoint Energy, Inc		419,166
15,973		Cleco Corp		391,339
36,811		Consolidated Edison, Inc		1,660,912
9,189		Crosstex Energy, Inc		264,000
49,783		El Paso Corp		857,761
21,030		Empire District Electric Co		470,441
5,034		Energen Corp		276,568
20,612		Energy East Corp		537,767
1,347		EnergySouth, Inc		68,697
18,570		Hawaiian Electric Industries, Inc		439,923
1,741		ITC Holdings Corp		70,737
17,790		Idacorp, Inc		569,992
22,467		KeySpan Corp		943,165
933		Laclede Group, Inc		29,744
7,127		MGE Energy, Inc		232,839
2,156		Markwest Hydrocarbon, Inc		123,819
4,454		Metal Management, Inc		196,288
12,586		NSTAR		408,416
13,213		National Fuel Gas Co		572,255
153		New Jersey Resources Corp		7,806
51,365		NiSource, Inc		1,063,769
4,671		Nicor, Inc		200,479
10,914		Northeast Utilities		309,521
28,092		OGE Energy Corp		1,029,572
10,934		Oneok, Inc		551,183
56,244		Pepco Holdings, Inc		1,586,081
4,830		Piedmont Natural Gas Co, Inc		119,060
8,819		Pinnacle West Capital Corp		351,437
43,451		Puget Energy, Inc		1,050,645
15,510		Questar Corp		819,704
1,955		Resource America, Inc (Class A)		40,293
1,200		SJW Corp		39,960
11,071		Sempra Energy		655,735
26,442	*	Sierra Pacific Resources		464,322
2,770		South Jersey Industries, Inc		98,003
23,402		TECO Energy, Inc		402,046
5,867		UGI Corp		160,052
3,154		UIL Holdings Corp		104,397
9,115		Unisource Energy Corp		299,792
3,955		Vectren Corp		106,508
7,455		WGL Holdings, Inc		243,331
3,746	*	Waste Services, Inc		45,514

337

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
44,022		Williams Cos, Inc	$	1,391,976
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		23,189,235
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.91%
20,596	*	Advanced Micro Devices, Inc		294,523
11,130		Ametek, Inc		441,638
29,238	*	Apple Computer, Inc		3,568,206
5,054	*	Arris Group, Inc		88,900
2,948	*	Atheros Communications, Inc		90,916
1,342		Baldor Electric Co		66,134
614	*	Benchmark Electronics, Inc		13,889
1,173	*	C-COR, Inc		16,492
1,600		CTS Corp		20,256
207,903	*	Cisco Systems, Inc		5,790,099
31,864	*	Conexant Systems, Inc		43,972
2,012	*	Cree, Inc		52,010
4,267	*	Ditech Networks, Inc		34,947
300	*	Dolby Laboratories, Inc (Class A)		10,623
605	*	Energizer Holdings, Inc		60,258
743	*	Energy Conversion Devices, Inc		22,899
1,135	*	Evergreen Solar, Inc		10,556
17,759	*	Finisar Corp		67,129
1,511	*	FuelCell Energy, Inc		11,967
3,603	*	GrafTech International Ltd		60,675
529	*	Greatbatch, Inc		17,140
1,965		Harman International Industries, Inc		229,512
4,802	*	Harmonic, Inc		42,594
220,624		Intel Corp		5,242,026
6,306	*	InterVoice, Inc		52,529
2,305	*	Interdigital Communications Corp		74,152
556		LSI Industries, Inc		9,952
28,958	*	LSI Logic Corp		217,475
1,197		Lincoln Electric Holdings, Inc		88,865
1,157	*	Loral Space & Communications, Inc		57,017
12,187	*	MRV Communications, Inc		39,608
1,544	*	Medis Technologies Ltd		22,681
28,580	*	Micron Technology, Inc		358,107
1,197	*	Microtune, Inc		6,260
9,264		Molex, Inc		278,013
95,529		Motorola, Inc		1,690,863
1,802	*	Novellus Systems, Inc		51,123
11,673	*	ON Semiconductor Corp		125,135
183	*	PLX Technology, Inc		2,042
685		Park Electrochemical Corp		19,303
2,968		Plantronics, Inc		77,821
1,283	*	Plexus Corp		29,496
3,021	*	Polycom, Inc		101,506
2,828	*	Power-One, Inc		11,255
6,111	*	Powerwave Technologies, Inc		40,944
3,708	*	QLogic Corp		61,738
67,390		Qualcomm, Inc		2,924,052
6,764	*	RF Micro Devices, Inc		42,207
2,093		RadioShack Corp		69,362
584	*	Silicon Storage Technology, Inc		2,178
91,507	*	Sirius Satellite Radio, Inc		276,351

338

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
7,773	*	Sycamore Networks, Inc	$	31,247
2,634	*	Symmetricom, Inc		22,126
2,358	*	TTM Technologies, Inc		30,654
1,509		Technitrol, Inc		43,263
2,450	*	Tekelec		35,329
4,571		Teleflex, Inc		373,816
18,477	*	Tellabs, Inc		198,813
16	*	Tessera Technologies, Inc		649
62,374		Texas Instruments, Inc		2,347,134
2,897	*	Thomas & Betts Corp		168,026
3,408	*	Triquint Semiconductor, Inc		17,244
1,000		Vicor Corp		13,230
1,385		Whirlpool Corp		154,012
12,976		Xilinx, Inc		347,368
786	*	Zoltek Cos, Inc		32,643
913	*	Zoran Corp		18,297
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		26,861,247
ENGINEERING AND MANAGEMENT SERVICES - 0.69%
2,593	*	Amylin Pharmaceuticals, Inc		106,728
2,164	*	Applera Corp (Celera Genomics Group)		26,834
1,040	*	Ariad Pharmaceuticals, Inc		5,710
908	*	CV Therapeutics, Inc		11,995
12,435	*	Celgene Corp		712,899
505		Corporate Executive Board Co		32,780
353	*	Gen-Probe, Inc		21,328
2,878	*	Harris Interactive, Inc		15,397
1,773	*	Hewitt Associates, Inc (Class A)		56,736
3,789	*	Incyte Corp		22,734
4,159	*	Isis Pharmaceuticals, Inc		40,259
473	*	Lifecell Corp		14,445
400	*	Maxygen, Inc		3,428
11,471		Moody's Corp		713,496
18,304		Paychex, Inc		716,052
9,112		Quest Diagnostics, Inc		470,635
1,345	*	Regeneron Pharmaceuticals, Inc		24,102
7,529	*	Rentech, Inc		19,500
1,573	*	Savient Pharmaceuticals, Inc		19,537
19	*	Symyx Technologies, Inc		219
153	*	Telik, Inc		517
3,940	*	Tetra Tech, Inc		84,907
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,120,238
FABRICATED METAL PRODUCTS - 0.76%
400		Ameron International Corp		36,076
10,682		Commercial Metals Co		360,731
837	*	Commercial Vehicle Group, Inc		15,593
3,118		Dynamic Materials Corp		116,925
2,418		Gulf Island Fabrication, Inc		83,905
1,400		Insteel Industries, Inc		25,200
37,615		Illinois Tool Works, Inc		2,038,357
3,970		Pentair, Inc		153,123
3,830		Silgan Holdings, Inc		211,722
1,585		Snap-On, Inc		80,058

339

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,078		Stanley Works	$	247,535
1,496		Valmont Industries, Inc		108,849
		TOTAL FABRICATED METAL PRODUCTS		3,478,074
FOOD AND KINDRED PRODUCTS - 3.10%
16,787		Campbell Soup Co		651,503
700		Corn Products International, Inc		31,815
24,266		General Mills, Inc		1,417,620
18,845		H.J. Heinz Co		894,572
1,337	*	Hansen Natural Corp		57,464
9,745		Hershey Co		493,292
911		Imperial Sugar Co		28,050
2,700	*	Jones Soda Co		37,854
28,974		Kellogg Co		1,500,563
71,012		Kraft Foods, Inc (Class A)		2,503,173
1,522		McCormick & Co, Inc		58,110
4,847		Pepsi Bottling Group, Inc		163,247
77,943		PepsiCo, Inc		5,054,604
23,853		Sara Lee Corp		415,042
14,401		Wrigley (Wm.) Jr Co		796,519
		TOTAL FOOD AND KINDRED PRODUCTS		14,103,428
FOOD STORES - 0.27%
16		Arden Group, Inc (Class A)		2,182
2,434	*	Pathmark Stores, Inc		31,545
20,123		Safeway, Inc		684,786
7,356		Supervalu, Inc		340,730
4,554		Whole Foods Market, Inc		174,418
		TOTAL FOOD STORES		1,233,661
FORESTRY - 0.20%
3,100		Rayonier, Inc		139,934
9,527		Weyerhaeuser Co		751,966
		TOTAL FORESTRY		891,900
FURNITURE AND FIXTURES - 0.61%
2,528		Hillenbrand Industries, Inc		164,320
14,379		Johnson Controls, Inc		1,664,657
7,032		Leggett & Platt, Inc		155,056
26,452		Masco Corp		753,088
1,069		Tempur-Pedic International, Inc		27,687
		TOTAL FURNITURE AND FIXTURES		2,764,808
FURNITURE AND HOME FURNISHINGS STORES - 0.08%
7,765	*	Bed Bath & Beyond, Inc		279,462
2,561		Circuit City Stores, Inc		38,620
229	*	Mohawk Industries, Inc		23,081
1,000		Pier 1 Imports, Inc		8,490
305		Williams-Sonoma, Inc		9,632
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		359,285
GENERAL BUILDING CONTRACTORS - 0.32%
100		Amrep Corp		4,755
121	*	Avatar Holdings, Inc		9,310

340

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,810		Centex Corp	$	192,881
14,817		DR Horton, Inc		295,303
2,209	*	Hovnanian Enterprises, Inc (Class A)		36,515
110		Lennar Corp (B Shares)		3,868
6,515		Lennar Corp (Class A)		238,188
1,209		MDC Holdings, Inc		58,467
391	*	Meritage Homes Corp		10,459
91	*	NVR, Inc		61,857
14,764		Pulte Homes, Inc		331,452
1,133		Ryland Group, Inc		42,340
2,113		Standard-Pacific Corp		37,041
5,302	*	Toll Brothers, Inc		132,444
915	*	WCI Communities, Inc		15,262
		TOTAL GENERAL BUILDING CONTRACTORS		1,470,142
GENERAL MERCHANDISE STORES - 1.27%
457	*	99 Cents Only Stores		5,991
424		Bon-Ton Stores, Inc		16,985
24,958		Costco Wholesale Corp		1,460,542
8,203		Dollar General Corp		179,810
5,488		Family Dollar Stores, Inc		188,348
10,463		JC Penney Co, Inc		757,312
457	*	Retail Ventures, Inc		7,371
22,026		TJX Cos, Inc		605,715
40,484		Target Corp		2,574,782
		TOTAL GENERAL MERCHANDISE STORES		5,796,856
HEALTH SERVICES - 1.30%
3,326	*	Alliance Imaging, Inc		31,231
761	*	Amsurg Corp		18,371
1,129	*	Bio-Reference Labs, Inc		30,878
2,338		Brookdale Senior Living, Inc		106,543
3,742	*	Community Health Systems, Inc		151,364
1,680	*	Corvel Corp		43,915
4,214	*	DaVita, Inc		227,050
1,357	*	Edwards Lifesciences Corp		66,954
11,474	*	Express Scripts, Inc		573,815
13,079		Health Management Associates, Inc (Class A)		148,577
1,386	*	Healthways, Inc		65,655
3,645	*	Hythiam, Inc		31,529
900	*	LHC Group, Inc		23,580
6,489	*	Laboratory Corp of America Holdings		507,829
1,449	*	LifePoint Hospitals, Inc		56,047
4,341	*	Lincare Holdings, Inc		172,989
1,737	*	Medcath Corp		55,237
100		National Healthcare Corp		5,160
6,025	*	Nektar Therapeutics		57,177
6,291		Omnicare, Inc		226,853
1,029		Option Care, Inc		15,847
1,012	*	Pediatrix Medical Group, Inc		55,812
1,884	*	Psychiatric Solutions, Inc		68,314
2,170	*	RehabCare Group, Inc		30,901
2,718	*	Sierra Health Services, Inc		113,014
1,085	*	Symbion, Inc		23,555

341

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,970	*	Triad Hospitals, Inc	$	267,187
34,369	*	WellPoint, Inc		2,743,677
		TOTAL HEALTH SERVICES		5,919,061
HOLDING AND OTHER INVESTMENT OFFICES - 2.41%
813		AMB Property Corp		43,268
20,690		Allied Capital Corp		640,562
3,017		American Financial Realty Trust		31,135
3,306		Annaly Mortgage Management, Inc		47,673
14,324		Archstone-Smith Trust		846,692
2,517		AvalonBay Communities, Inc		299,221
4,747		Boston Properties, Inc		484,811
300		Capital Southwest Corp		46,737
2,455		Cherokee, Inc		89,706
2,500		Colonial Properties Trust		91,125
2,600		Developers Diversified Realty Corp		137,046
8,345		Duke Realty Corp		297,666
22,351		Equity Residential		1,019,876
300		Essex Property Trust, Inc		34,890
153		FelCor Lodging Trust, Inc		3,983
12,365		General Growth Properties, Inc		654,727
700		Gladstone Capital Corp		15,022
4,602		HRPT Properties Trust		47,861
2,061		Health Care Property Investors, Inc		59,625
1,300		Health Care REIT, Inc		52,468
153		Highwoods Properties, Inc		5,738
2,713		Hospitality Properties Trust		112,562
28,161		Host Marriott Corp		651,082
10,696		Kimco Realty Corp		407,197
153		Liberty Property Trust		6,721
10,962		Luminent Mortgage Capital, Inc		110,607
2,365		MFA Mortgage Investments, Inc		17,217
900		Mack-Cali Realty Corp		39,141
1,300		Mid-America Apartment Communities, Inc		68,224
800		NorthStar Realty Finance Corp		10,008
1,000		Post Properties, Inc		52,130
817		Potlatch Corp		35,172
14,359		Prologis		817,027
5,782		Public Storage, Inc		444,173
15,378		Simon Property Group, Inc		1,430,769
6,500		Spirit Finance Corp		94,640
913	*	Tarragon Corp		7,724
15,866		Virgin Media, Inc		386,654
7,658		Vornado Realty Trust		841,155
4,351		Weingarten Realty Investors		178,826
7,087		iStar Financial, Inc		314,167
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		10,975,028
HOTELS AND OTHER LODGING PLACES - 0.57%
8,819		Choice Hotels International, Inc		348,527
6,175	*	Gaylord Entertainment Co		331,227
15,105	*	Great Wolf Resorts, Inc		215,246
23,462		Hilton Hotels Corp		785,273
8,627	*	Lodgian, Inc		129,664

342

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,234		Marcus Corp	$	100,600
15,851		Marriott International, Inc (Class A)		685,397
		TOTAL HOTELS AND OTHER LODGING PLACES		2,595,934
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.33%
5,780	*	AGCO Corp		250,910
9,729		American Standard Cos, Inc		573,816
1,565		Ampco-Pittsburgh Corp		62,741
69,608		Applied Materials, Inc		1,383,111
1,445	*	Astec Industries, Inc		61,008
3,748	*	Axcelis Technologies, Inc		24,325
4,025		Black & Decker Corp		355,448
1,585		Briggs & Stratton Corp		50,023
1,852	*	Brooks Automation, Inc		33,614
229		CDW Corp		19,458
757		Cascade Corp		59,379
1,693	*	Columbus McKinnon Corp		54,515
5,264		Cummins, Inc		532,769
15,789		Deere & Co		1,906,364
85,887	*	Dell, Inc		2,452,074
985		Donaldson Co, Inc		35,017
761	*	Dril-Quip, Inc		34,207
88,866	*	EMC Corp		1,608,475
266	*	ENGlobal Corp		3,232
844	*	Emulex Corp		18,433
652	*	Entegris, Inc		7,746
233	*	Extreme Networks, Inc		944
2,041	*	FMC Technologies, Inc		161,688
605		Flowserve Corp		43,318
400	*	Gardner Denver, Inc		17,020
1,756	*	Gehl Co		53,312
3,705		Graco, Inc		149,237
9,295	*	Grant Prideco, Inc		500,350
103,862		Hewlett-Packard Co		4,634,322
229	*	Intermec, Inc		5,796
65,014		International Business Machines Corp		6,842,724
832	*	Intevac, Inc		17,688
67	*	Komag, Inc		2,137
4,639	*	Lam Research Corp		238,445
837		Lennox International, Inc		28,651
2,934	*	Lexmark International, Inc (Class A)		144,676
1,117		Lufkin Industries, Inc		72,102
3,463		Manitowoc Co, Inc		278,356
1,905		Modine Manufacturing Co		43,053
1,244		Nordson Corp		62,399
1,537	*	Oil States International, Inc		63,540
4,326		Pall Corp		198,953
634	*	Rackable Systems, Inc		7,836
2,241		SPX Corp		196,782
305		Sauer-Danfoss, Inc		9,077
4,004	*	Semitool, Inc		38,478
3,602	*	Sigma Designs, Inc		93,976
47,050	*	Solectron Corp		173,144
7,205	*	SourceForge, Inc		30,405

343

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
6,075		Tennant Co	$	221,738
1,850	*	Terex Corp		150,405
1,235	*	TurboChef Technologies, Inc		17,191
840	*	Ultratech, Inc		11,197
4,152	*	Varian Medical Systems, Inc		176,502
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		24,212,107
INSTRUMENTS AND RELATED PRODUCTS - 5.42%
724	*	Advanced Medical Optics, Inc		25,253
1,715	*	Affymetrix, Inc		42,686
377		Analogic Corp		27,713
4,250		Bard (C.R.), Inc		351,177
33,883		Baxter International, Inc		1,908,968
3,187		Beckman Coulter, Inc		206,135
14,604		Becton Dickinson & Co		1,087,998
10,063		Biomet, Inc		460,080
48,702	*	Boston Scientific Corp		747,089
1,350	*	Bruker BioSciences Corp		12,164
1,436	*	Cepheid, Inc		20,966
529		Cooper Cos, Inc		28,206
9,023	*	Credence Systems Corp		32,483
577	*	DJ Orthopedics, Inc		23,813
5,989		Dentsply International, Inc		229,139
68,900		Emerson Electric Co		3,224,520
533	*	Flir Systems, Inc		24,651
553	*	Formfactor, Inc		21,180
653	*	Hologic, Inc		36,117
551	*	Illumina, Inc		22,365
2,701	*	Input/Output, Inc		42,163
898	*	Intuitive Surgical, Inc		124,615
3,346	*	Ixia		30,984
120,179		Johnson & Johnson		7,405,430
7,190		Kla-Tencor Corp		395,091
82	*	L-1 Identity Solutions, Inc		1,677
4,280	*	LTX Corp		23,797
1,550	*	MKS Instruments, Inc		42,935
55,526		Medtronic, Inc		2,879,578
728	*	Millipore Corp		54,666
606	*	OYO Geospace Corp		44,959
12,371		Pitney Bowes, Inc		579,210
381	*	Resmed, Inc		15,720
305	*	Rofin-Sinar Technologies, Inc		21,045
1,913		Roper Industries, Inc		109,232
13,721	*	St. Jude Medical, Inc		569,284
1,900		STERIS Corp		58,140
14,778		Stryker Corp		932,344
77	*	Techne Corp		4,405
3,270		Tektronix, Inc		110,330
17,155	*	Thermo Electron Corp		887,257
3,245	*	Waters Corp		192,623
1,902	*	X-Rite, Inc		28,093
36,347	*	Xerox Corp		671,693
10,358	*	Zimmer Holdings, Inc		879,291

344

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
800	*	Zygo Corp	$	11,432
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		24,648,697
INSURANCE AGENTS, BROKERS AND SERVICE - 0.51%
5,671		Brown & Brown, Inc		142,569
7,075		Crawford & Co (Class B)		47,827
21,761		Hartford Financial Services Group, Inc		2,143,676
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		2,334,072
INSURANCE CARRIERS - 4.35%
3,040	*	AMERIGROUP Corp		72,352
26,761		Aetna, Inc		1,321,993
36,493		Aflac, Inc		1,875,740
7,779		Ambac Financial Group, Inc		678,251
3,447		American Financial Group, Inc		117,715
5,951		Assurant, Inc		350,633
7,465		Axis Capital Holdings Ltd		303,452
7,492		W.R. Berkley Corp		243,790
1,565	*	Centene Corp		33,522
34,878		Chubb Corp		1,888,295
18,522		Cincinnati Financial Corp		803,855
2,093		Commerce Group, Inc		72,669
6,428		Endurance Specialty Holdings Ltd		257,377
2,085		Erie Indemnity Co (Class A)		112,673
3,844		Everest Re Group Ltd		417,612
29,381		Genworth Financial, Inc (Class A)		1,010,706
2,922		HCC Insurance Holdings, Inc		97,624
1,217		Hanover Insurance Group, Inc		59,377
1,192	*	HealthExtras, Inc		35,259
500		LandAmerica Financial Group, Inc		48,245
23,222		Lincoln National Corp		1,647,601
8,433		MBIA, Inc		524,701
5,539		MGIC Investment Corp		314,948
153	*	Markel Corp		74,138
1,965		Mercury General Corp		108,291
1,311	*	Molina Healthcare, Inc		40,012
457		Odyssey Re Holdings Corp		19,601
3,089		PMI Group, Inc		137,986
2,574		Phoenix Cos, Inc		38,636
18,159		Principal Financial Group		1,058,488
46,385		Progressive Corp		1,109,993
985		Protective Life Corp		47,093
3,750		Radian Group, Inc		202,500
900		RenaissanceRe Holdings Ltd		55,791
9,744		Safeco Corp		606,661
381		Stancorp Financial Group, Inc		19,995
1,100		Tower Group, Inc		35,090
43,225		Travelers Cos, Inc/The		2,312,537
1,750		Unitrin, Inc		86,065
14,209		UnumProvident Corp		370,997
2,082	*	WellCare Health Plans, Inc		188,442
11,346		XL Capital Ltd (Class A)		956,354
		TOTAL INSURANCE CARRIERS		19,757,060

345

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
LEATHER AND LEATHER PRODUCTS - 0.17%
14,662	*	Coach, Inc	$	694,832
2,309		Weyco Group, Inc		62,181
		TOTAL LEATHER AND LEATHER PRODUCTS		757,013
LUMBER AND WOOD PRODUCTS - 0.01%
1,707	*	Champion Enterprises, Inc		16,780
300		Skyline Corp		9,003
		TOTAL LUMBER AND WOOD PRODUCTS		25,783
METAL MINING - 0.09%
6,475	*	Apex Silver Mines Ltd		130,665
2,358	*	Rosetta Resources, Inc		50,791
9,418		Royal Gold, Inc		223,866
		TOTAL METAL MINING		405,322
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.70%
1,840		Callaway Golf Co		32,770
1,145		Daktronics, Inc		24,595
609	*	K2, Inc		9,251
2,536		Marine Products Corp		20,871
28,770		Mattel, Inc		727,593
390		Nautilus, Inc		4,696
3,302	*	Russ Berrie & Co, Inc		61,516
68,554	*	Tyco International Ltd		2,316,440
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		3,197,732
MISCELLANEOUS RETAIL - 1.00%
10,720	*	Amazon.com, Inc		733,355
14,577		Best Buy Co, Inc		680,309
658	*	Coldwater Creek, Inc		15,285
432	*	Dollar Tree Stores, Inc		18,814
2,734	*	GSI Commerce, Inc		62,089
315	*	Nutri/System, Inc		22,000
7,939	*	Office Depot, Inc		240,552
130	*	Overstock.com, Inc		2,375
1,100		Petsmart, Inc		35,695
27,325		Staples, Inc		648,422
2,200		Systemax, Inc		45,782
1,507		Tiffany & Co		79,961
39,572		Walgreen Co		1,722,965
5,944		World Fuel Services Corp		250,005
129	*	Priceline.com, Inc		8,867
		TOTAL MISCELLANEOUS RETAIL		4,566,476
MOTION PICTURES - 1.30%
457	*	Avid Technology, Inc		16,155
14,186	*	Discovery Holding Co (Class A)		326,136
761	*	DreamWorks Animation SKG, Inc (Class A)		21,947
761		Regal Entertainment Group (Class A)		16,689
205,387		Time Warner, Inc		4,321,342
29,064	*	Viacom, Inc (Class B)		1,209,934
		TOTAL MOTION PICTURES		5,912,203

346

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
NONDEPOSITORY INSTITUTIONS - 2.24%
2,023		Advanta Corp (Class A)	$	57,473
7,241	*	AmeriCredit Corp		192,249
12,427		American Capital Strategies Ltd		528,396
63,429		American Express Co		3,880,586
1,500		Asta Funding, Inc		57,645
22,695		Capital One Financial Corp		1,780,196
5,096		CapitalSource, Inc		125,311
1,937		Centerline Holding Co		34,866
3,035	*	Credit Acceptance Corp		81,429
2,741		Federal Agricultural Mortgage Corp (Class C)		93,797
3,459		First Marblehead Corp		133,656
47,395		Freddie Mac		2,876,876
1,200	*	INVESTools, Inc		11,952
10,005		MCG Capital Corp		160,280
2,737		Nelnet, Inc (Class A)		66,892
1,600	*	PHH Corp		49,936
1,293	*	World Acceptance Corp		55,250
		TOTAL NONDEPOSITORY INSTITUTIONS		10,186,790
NONMETALLIC MINERALS, EXCEPT FUELS - 0.22%
5,033		AMCOL International Corp		137,451
1,771		Florida Rock Industries, Inc		119,542
6,375		Vulcan Materials Co		730,193
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		987,186
OIL AND GAS EXTRACTION - 4.13%
1,916	*	ATP Oil & Gas Corp		93,194
2,478		Atlas America, Inc		133,143
3,454		Berry Petroleum Co (Class A)		130,147
900	*	Bronco Drilling Co, Inc		14,769
4,802	*	Callon Petroleum Co		68,044
4,606	*	Cameron International Corp		329,191
837	*	Carrizo Oil & Gas, Inc		34,710
6,191	*	Cheniere Energy, Inc		240,149
32,116		Chesapeake Energy Corp		1,111,214
8,707		Cimarex Energy Co		343,143
2,149	*	Delta Petroleum Corp		43,152
10,142	*	Denbury Resources, Inc		380,325
11,957		ENSCO International, Inc		729,497
1,370	*	EXCO Resources, Inc		23,893
4,054	*	Edge Petroleum Corp		56,797
2,970	*	Encore Acquisition Co		82,566
20,844		Equitable Resources, Inc		1,033,029
6,238	*	Forest Oil Corp		263,618
533	*	GMX Resources, Inc		18,442
11,751	*	GeoGlobal Resources, Inc		59,813
5,515	*	Global Industries Ltd		147,912
18,293		GlobalSantaFe Corp		1,321,669
1,461	*	Goodrich Petroleum Corp		50,594
8,031	*	Grey Wolf, Inc		66,175
3,467	*	Helix Energy Solutions Group, Inc		138,368
10,893		Helmerich & Payne, Inc		385,830
2,662	*	McMoRan Exploration Co		37,268
38,009	*	Meridian Resource Corp		114,787

347

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
13,435	*	Nabors Industries Ltd	$	448,460
8,077	*	National Oilwell Varco, Inc		841,946
5,710		Noble Corp		556,839
657	*	Oceaneering International, Inc		34,584
3,912	*	Parallel Petroleum Corp		85,673
12,280	*	PetroHawk Energy Corp		194,761
776	*	Petroleum Development Corp		36,844
4,283	*	Petroquest Energy, Inc		62,275
11,693		Pioneer Natural Resources Co		569,566
4,590	*	Plains Exploration & Production Co		219,448
7,516		Pogo Producing Co		381,738
10,979	*	Pride International, Inc		411,273
1,835	*	Quicksilver Resources, Inc		81,804
300		RPC, Inc		5,112
8,714		Range Resources Corp		325,991
5,615		Rowan Cos, Inc		230,103
11,637		Smith International, Inc		682,394
5,899	*	Southwestern Energy Co		262,505
3,978		St. Mary Land & Exploration Co		145,674
3,305	*	Stone Energy Corp		113,229
1,765	*	Superior Energy Services		70,459
2,706	*	Swift Energy Co		115,709
3,817	*	TXCO Resources, Inc		39,239
6,262		Tidewater, Inc		443,851
457	*	Todco		21,575
4,765	*	Toreador Resources Corp		71,475
16,854	*	Transocean, Inc		1,786,187
2,413	*	Unit Corp		151,802
3,098		W&T Offshore, Inc		86,713
1,141	*	Warren Resources, Inc		13,327
16,557	*	Weatherford International Ltd		914,609
2,141	*	Whiting Petroleum Corp		86,753
30,730		XTO Energy, Inc		1,846,873
		TOTAL OIL AND GAS EXTRACTION		18,790,230
PAPER AND ALLIED PRODUCTS - 0.84%
3,806		Bemis Co		126,283
3,274		Bowater, Inc		81,686
6,951	*	Buckeye Technologies, Inc		107,532
3,850	*	Chesapeake Corp		48,394
2,495	*	Domtar Corporation		27,844
800		Glatfelter		10,872
20,460		International Paper Co		798,963
23,133		Kimberly-Clark Corp		1,547,366
13,991		MeadWestvaco Corp		494,162
2,458		Packaging Corp of America		62,212
2,117		Rock-Tenn Co (Class A)		67,151
108	*	Smurfit-Stone Container Corp		1,437
4,405		Sonoco Products Co		188,578
3,800		Temple-Inland, Inc		233,814
1,674		Wausau Paper Corp		22,432
		TOTAL PAPER AND ALLIED PRODUCTS		3,818,726

348

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
PERSONAL SERVICES - 0.02%
1,200		Regis Corp	$	45,900
605		Weight Watchers International, Inc		30,758
		TOTAL PERSONAL SERVICES		76,658
PETROLEUM AND COAL PRODUCTS - 3.56%
4,065		Alon USA Energy, Inc		178,901
32,966		Apache Corp		2,689,696
1,950		Ashland, Inc		124,702
7,400		Cabot Oil & Gas Corp		272,912
36,607		Devon Energy Corp		2,865,962
21,331		EOG Resources, Inc		1,558,443
12,284		Frontier Oil Corp		537,671
1,595	*	Headwaters, Inc		27,546
21,988		Hess Corp		1,296,412
5,307		Holly Corp		393,726
16,396		Murphy Oil Corp		974,578
9,512	*	Newfield Exploration Co		433,272
17,929		Noble Energy, Inc		1,118,590
10,354		Sunoco, Inc		825,007
32,891		Valero Energy Corp		2,429,329
7,562		Western Refining, Inc		437,084
		TOTAL PETROLEUM AND COAL PRODUCTS		16,163,831
PIPELINES, EXCEPT NATURAL GAS - 0.28%
48,750		Spectra Energy Corp		1,265,550
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,265,550
PRIMARY METAL INDUSTRIES - 1.69%
22,102		Alcoa, Inc		895,794
1,542		Allegheny Technologies, Inc		161,725
1,663	*	Brush Engineered Materials, Inc		69,829
4,879	*	Century Aluminum Co		266,540
6,486		Chaparral Steel Co		466,149
1,741	*	CommScope, Inc		101,587
61,734	*	Corning, Inc		1,577,304
457		Encore Wire Corp		13,454
3,678	*	LB Foster Co (Class A)		105,485
5,633		Gibraltar Industries, Inc		124,771
3,906		Hubbell, Inc (Class B)		211,783
5,488		Mueller Industries, Inc		189,007
20,258		Nucor Corp		1,188,132
4,390		Olympic Steel, Inc		125,817
3,667		Quanex Corp		178,583
10,360		Steel Dynamics, Inc		434,188
6,210		Tredegar Corp		132,273
9,029		United States Steel Corp		981,904
11,803	*	Wheeling-Pittsburgh Corp		224,611
11,553		Worthington Industries, Inc		250,122
		TOTAL PRIMARY METAL INDUSTRIES		7,699,058
PRINTING AND PUBLISHING - 0.87%
761	*	ACCO Brands Corp		17,541
2,176		Dow Jones & Co, Inc		125,011
2,049		Dun & Bradstreet Corp		211,006

349

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
77		Harte-Hanks, Inc	$	1,977
24,070		McGraw-Hill Cos, Inc		1,638,686
1,700		Meredith Corp		104,720
13,135		New York Times Co (Class A)		333,629
2,170	*	R.H. Donnelley Corp		164,443
10,799		EW Scripps Co (Class A)		493,406
614		Standard Register Co		7,000
12,921		Tribune Co		379,877
822	*	Valassis Communications, Inc		14,130
599		Washington Post Co (Class B)		464,878
		TOTAL PRINTING AND PUBLISHING		3,956,304
RAILROAD TRANSPORTATION - 0.66%
27,578		CSX Corp		1,243,216
533	*	Genesee & Wyoming, Inc (Class A)		15,905
3,987	*	Kansas City Southern Industries, Inc		149,672
30,548		Norfolk Southern Corp		1,605,908
		TOTAL RAILROAD TRANSPORTATION		3,014,701
REAL ESTATE - 0.10%
7,388	*	CB Richard Ellis Group, Inc (Class A)		269,662
1,693		Forest City Enterprises, Inc (Class A)		104,086
229		Jones Lang LaSalle, Inc		25,991
7,397		Stewart Enterprises, Inc (Class A)		57,623
		TOTAL REAL ESTATE		457,362
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.42%
28,596		Nike, Inc (Class B)		1,666,861
6,090		Sealed Air Corp		188,912
1,937		Spartech Corp		51,427
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,907,200
SECURITY AND COMMODITY BROKERS - 3.54%
1,827		A.G. Edwards, Inc		154,473
8,078		Ameriprise Financial, Inc		513,518
2,193		BlackRock, Inc		343,402
1,527		Cbot Holdings, Inc (Class A)		315,478
52,237		Charles Schwab Corp		1,071,903
1,285		Chicago Mercantile Exchange Holdings, Inc		686,653
13,920	*	E*Trade Financial Corp		307,493
1,433		Eaton Vance Corp		63,310
796		Federated Investors, Inc (Class B)		30,511
13,097		Franklin Resources, Inc		1,734,960
19,351		Goldman Sachs Group, Inc		4,194,329
2,751	*	IntercontinentalExchange, Inc		406,735
153	*	Investment Technology Group, Inc		6,629
6,129		Janus Capital Group, Inc		170,631
4,264		Legg Mason, Inc		419,492
46,954		Merrill Lynch & Co, Inc		3,924,415
8,200		NYSE Euronext		603,684
1,860	*	Nasdaq Stock Market, Inc		55,261
2,465		Nymex Holdings, Inc		309,678
3,606		SEI Investments Co		104,718

350

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
12,807		T Rowe Price Group, Inc	$	664,555
		TOTAL SECURITY AND COMMODITY BROKERS		16,081,828
SOCIAL SERVICES - 0.01%
6,300	*	Capital Senior Living Corp		59,346
		TOTAL SOCIAL SERVICES		59,346
SPECIAL TRADE CONTRACTORS - 0.05%
1,785	*	Layne Christensen Co		73,096
4,396	*	Quanta Services, Inc		134,825
		TOTAL SPECIAL TRADE CONTRACTORS		207,921
STONE, CLAY, AND GLASS PRODUCTS - 0.90%
43,299		3M Co		3,757,920
241		Apogee Enterprises, Inc		6,705
229		CARBO Ceramics, Inc		10,032
180	*	Cabot Microelectronics Corp		6,388
1,975		Eagle Materials, Inc		96,874
7,296		Gentex Corp		143,658
2,200	*	Owens Corning, Inc		73,986
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		4,095,563
TRANSPORTATION BY AIR - 0.65%
8,842	*	AMR Corp		232,987
800	*	Air Methods Corp		29,336
5,465	*	Airtran Holdings, Inc		59,678
1,694	*	Alaska Air Group, Inc		47,195
7,778	*	Continental Airlines, Inc (Class B)		263,441
10,259	*	ExpressJet Holdings, Inc		61,349
11,535		FedEx Corp		1,280,039
8,660	*	JetBlue Airways Corp		101,755
800	*	PHI, Inc		23,832
4,790		Skywest, Inc		114,146
48,492		Southwest Airlines Co		723,016
		TOTAL TRANSPORTATION BY AIR		2,936,774
TRANSPORTATION EQUIPMENT - 1.26%
1,141	*	Accuride Corp		17,583
381	*	Aftermarket Technology Corp		11,308
3,706		American Axle & Manufacturing Holdings, Inc		109,772
4,001		ArvinMeritor, Inc		88,822
7,891		Autoliv, Inc		448,761
22,662	*	BE Aerospace, Inc		935,941
429		Federal Signal Corp		6,804
16,638		Genuine Parts Co		825,245
14,033		Harley-Davidson, Inc		836,507
8,970		Harsco Corp		466,440
1,838		Noble International Ltd		37,569
11,884		Paccar, Inc		1,034,383
15,285	*	Spirit Aerosystems Holdings, Inc (Class A)		551,024
3,350		Superior Industries International, Inc		72,896
2,552	*	Tenneco, Inc		89,422
985		Thor Industries, Inc		44,463
7,979	*	Visteon Corp		64,630

351

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
2,265		Westinghouse Air Brake Technologies Corp	$	82,740
		TOTAL TRANSPORTATION EQUIPMENT		5,724,310
TRANSPORTATION SERVICES - 0.05%
1,793		CH Robinson Worldwide, Inc		94,168
3,054		Expeditors International Washington, Inc		126,130
		TOTAL TRANSPORTATION SERVICES		220,298
TRUCKING AND WAREHOUSING - 0.57%
35,340		United Parcel Service, Inc (Class B)		2,579,820
		TOTAL TRUCKING AND WAREHOUSING		2,579,820
WATER TRANSPORTATION - 0.03%
1,517	*	Gulfmark Offshore, Inc		77,701
1,353	*	Hornbeck Offshore Services, Inc		52,442
		TOTAL WATER TRANSPORTATION		130,143
WHOLESALE TRADE-DURABLE GOODS - 0.59%
900		Agilysys, Inc		20,250
10,710		Barnes Group, Inc		339,293
2,820		BorgWarner, Inc		242,633
3,816		Castle (A.M.) & Co		137,033
1,318	*	Cytyc Corp		56,819
4,346		IKON Office Solutions, Inc		67,841
1,841	*	MWI Veterinary Supply, Inc		73,437
743		Martin Marietta Materials, Inc		120,381
5,550	*	Patterson Cos, Inc		206,848
8,244		Reliance Steel & Aluminum Co		463,807
8,601		Ryerson Tull, Inc		323,828
153	*	Tech Data Corp		5,884
5,482		W.W. Grainger, Inc		510,100
1,743	*	WESCO International, Inc		105,364
		TOTAL WHOLESALE TRADE-DURABLE GOODS		2,673,518
WHOLESALE TRADE-NONDURABLE GOODS - 0.48%
681		Airgas, Inc		32,620
6,350	*	Akorn, Inc		44,386
971	*	Allscripts Healthcare Solutions, Inc		24,741
1,522		Dean Foods Co		48,506
7,460	*	Endo Pharmaceuticals Holdings, Inc		255,356
1,247	*	Henry Schein, Inc		66,627
5,081		Idearc, Inc		179,512
300		Men's Wearhouse, Inc		15,321
1,817		Nash Finch Co		89,941
2,716		Spartan Stores, Inc		89,384
1,293		Stride Rite Corp		26,196
39,106		Sysco Corp		1,290,107
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,162,697
		TOTAL COMMON STOCKS		450,685,613
		(Cost $384,079,252)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 0.68%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.68%
$      3,080,000	d	Federal Home Loan Bank (FHLB), 0.000%, 07/02/07		3,080,000

352

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
				VALUE
		TOTAL SHORT-TERM INVESTMENTS	$	3,080,000
		(Cost $3,079,589)
		TOTAL PORTFOLIO - 99.83%		453,765,613
		(Cost $387,158,841)
		OTHER ASSETS & LIABILITIES, NET - 0.17%		768,929
		NET ASSETS - 100.00%	$	454,534,542
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing.
	**	Percentage is less than 0.01%.
	d	All or a portion of these securities have been segregated by the custodian to cover margin or other
		requirements on open futures contracts in the amount of $3,335,157.

353

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Real Estate Securities Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
REAL ESTATE SECURITIES FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 100.42%
AMUSEMENT AND RECREATION SERVICES - 0.30%
2,000,000	*	Galaxy Entertainment Group Ltd	$	1,949,306
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,949,306
EATING AND DRINKING PLACES - 0.36%
54,300		Darden Restaurants, Inc		2,388,657
		TOTAL EATING AND DRINKING PLACES		2,388,657
HOLDING AND OTHER INVESTMENT OFFICES - 87.57%
280,500	e	Acadia Realty Trust		7,278,975
232,600		Archstone-Smith Trust		13,748,986
100,423		Associated Estates Realty Corp		1,565,594
353,900		AvalonBay Communities, Inc		42,071,632
290,000		BioMed Realty Trust, Inc		7,284,800
382,300		Boston Properties, Inc		39,044,299
210,000		CBL & Associates Properties, Inc		7,570,500
292,500		Camden Property Trust		19,588,725
380,913	e	Corporate Office Properties Trust		15,621,242
40,500		Developers Diversified Realty Corp		2,134,755
92,100	e	Digital Realty Trust, Inc		3,470,328
265,100	e	Douglas Emmett, Inc		6,558,574
390,900	e	EastGroup Properties, Inc		17,129,238
519,300		Equity Residential		23,695,659
95,000	e	Essex Property Trust, Inc		11,048,500
266,600		Federal Realty Investment Trust		20,597,516
140,000	g,m,v*	GSC Capital Corp		1,157,800
427,200		General Growth Properties, Inc		22,620,240
163,000	e	Glimcher Realty Trust		4,075,000
675,100		Host Marriott Corp		15,608,312
176,300		Kilroy Realty Corp		12,489,092
140,100		Kimco Realty Corp		5,333,607
227,800		Macerich Co		18,775,276
150,600		Maguire Properties, Inc		5,170,098
996,506	e	Mission West Properties, Inc		13,891,294
43,300	e	PS Business Parks, Inc		2,743,921
107,000		Pennsylvania Real Estate Investment Trust		4,743,310
197,600	e	Post Properties, Inc		10,300,888
436,500		Prologis		24,836,850
405,100		Public Storage, Inc		31,119,782
118,700	e	Ramco-Gershenson Properties		4,264,891
309,800		Regency Centers Corp		21,840,900
264,800		SL Green Realty Corp		32,806,072
553,900		Simon Property Group, Inc		51,534,856
238,500	e	Strategic Hotels & Resorts, Inc		5,363,865
375,400	e	Taubman Centers, Inc		18,623,594

354

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Real Estate Securities Fund
SHARES		COMPANY		VALUE
289,400		Vornado Realty Trust	$	31,787,696
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		577,496,667
HOTELS AND OTHER LODGING PLACES - 6.56%
262,200		Hilton Hotels Corp		8,775,834
26,300	*	MGM Mirage		2,169,224
237,200	e	Orient-Express Hotels Ltd (Class A)		12,666,480
218,900		Starwood Hotels & Resorts Worldwide, Inc		14,681,623
80,900	e*	Vail Resorts, Inc		4,924,383
		TOTAL HOTELS AND OTHER LODGING PLACES		43,217,544
JUSTICE, PUBLIC ORDER AND SAFETY - 0.54%
56,500	*	Corrections Corp of America		3,565,715
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		3,565,715
REAL ESTATE - 5.09%
310,000	g,m,v*	Asset Capital Corp, Inc		1,903,400
3,200,000		Beijing Capital Land Ltd		1,845,482
581,500	*	Brookfield Properties Corp		14,136,265
143,100	*	CB Richard Ellis Group, Inc (Class A)		5,223,150
156,000	v*	KWG Property Holding Ltd		145,242
35,000,000		Lai Fung Holdings Ltd		1,926,231
526,000		Thomas Properties Group, Inc		8,405,480
		TOTAL REAL ESTATE		33,585,250
		TOTAL COMMON STOCKS		662,203,139
		(Cost $650,096,083)
SHORT-TERM INVESTMENTS - 3.13%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 3.13%
20,668,822		State Street Navigator Securities Lending Prime Portfolio		20,668,822
		TOTAL SHORT-TERM INVESTMENTS		20,668,822
		(Cost $20,668,822)
		TOTAL PORTFOLIO - 103.55%		682,871,961
		(Cost $670,764,905)
		OTHER ASSETS & LIABILITIES, NET - (3.55)%		(23,414,176	)
		NET ASSETS - 100.00%	$	659,457,785
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
	g	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, 2007, the value of these securities amounted to $3,061,200 or 0.46% of net assets.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.

355

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Managed Allocation Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MANAGED ALLOCATION FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 100.04%
23,340,158	TIAA-CREF Institutional Bond Plus Fund II - Institutional Class	$	231,534,367
72,122	TIAA-CREF Institutional High-Yield Fund II - Institutional Class		721,222
5,250,220	TIAA-CREF Institutional International Equity Fund - Institutional Class		76,705,720
13,357,438	TIAA-CREF Institutional Large-Cap Growth Fund - Institutional Class		147,733,266
8,282,526	TIAA-CREF Institutional Large-Cap Value Fund - Institutional Class		144,944,207
8,429	TIAA-CREF Institutional Money Market Fund - Institutional Class		8,429
1,488	TIAA-CREF Institutional Real Estate Securities Fund - Institutional Class		21,760
69,102	TIAA-CREF Institutional Short-Term Bond Fund II - Institutional Class		688,258
1,629,438	TIAA-CREF Institutional Small-Cap Equity Fund - Institutional Class		26,999,788
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		629,357,017
	(Cost $573,145,752)
	TOTAL PORTFOLIO - 100.04%		629,357,017
	(Cost $573,145,752)
	OTHER ASSETS & LIABILITIES, NET - (0.04)%		(255,313	)
	NET ASSETS - 100.00%	$	629,101,704

356

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
BOND FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
CORPORATE BONDS - 39.23%
AMUSEMENT AND RECREATION SERVICES - 0.10%
$      1,480,000		Walt Disney Co	5.700%	07/15/11	A2	$	1,491,680
		TOTAL AMUSEMENT AND RECREATION SERVICES					1,491,680
ASSET BACKED - 15.14%
5,000,000		AmeriCredit Automobile Receivables Trust Series
		2006-AF (Class A4)	5.640	09/06/13	Aaa		5,023,080
5,000,000		AmeriCredit Automobile Receivables Trust Series
		2007-BF (Class A3A)	5.160	04/06/12	Aaa		4,980,825
186,349	i	AQ Finance NIM Trust Series 2004-RN2	5.520	04/25/09	Aaa		186,237
124,444	i,v	AQ Finance NIM Trust Series 2004-RN3	5.500	05/26/09	Aaa		124,444
55,677		Asset Backed Funding Corp NIM Trust Series
		2005-WMC1 (Class N1)	5.900	07/26/35	NR		55,265
4,000,000		Capital One Auto Finance Trust Series 2007-A
		(Class A3A)	5.250	08/15/11	Aaa		3,993,088
2,500,000		Capital One Auto Finance Trust Series 2007-B
		(Class A3A)	5.030	04/15/12	Aaa		2,486,115
400,000	i	Centex Home Equity Series 2004-C (Class AF5)	5.980	06/25/34	Aaa		391,452
13,635,116	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2003-6 (Class 1A7)	4.277	09/25/33	Aaa		12,946,271
1,000,000	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1B)	5.700	02/25/35	Baa2		849,116
1,000,000	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1M1)	5.700	02/25/35	Aa2		971,719
921,844		Chase Manhattan Auto Owner Trust Series 2004-A
		(Class A4)	2.830	09/15/10	Aaa		909,793
1,010,000		CIT Equipment Collateral Series 2005-VT1 (Class
		A4)	4.360	11/20/12	Aaa		1,002,099
1,316,608	i	CIT Group Home Equity Loan Trust Series 2002-1
		(Class AF6)	6.200	02/25/30	Aaa		1,320,844
4,000,000	i	Citicorp Mortgage Securities, Inc Series 2006-1
		(Class A3)	5.706	07/25/36	Aaa		3,975,220
6,000,000	d	Citicorp Mortgage Securities, Inc Series 2006-2
		(Class A3)	5.563	09/25/36	Aaa		5,943,804
4,000,000	i	Countrywide Asset-Backed Certificates Series
		2007-S2 (Class A3)	5.813	05/25/37	Aaa		3,949,604
211,164	i	Countrywide Home Equity Loan Trust Series 2004-
		B (Class 1A)	5.540	02/15/29	Aaa		211,273
2,395,393	i	Credit-Based Asset Servicing and Securitization
		LLC Series 2007-MX1 (Class A1)	6.159	12/25/36	Aaa		2,394,253
2,700,000	i	Credit-Based Asset Servicing and Securitization
		LLC Series 2007-MX1 (Class A2)	5.763	12/25/36	Aaa		2,686,219
262,213		Detroit Edison Securitization Funding LLC Series
		2001-1 (Class A3)	5.875	03/01/10	Aaa		262,680

357

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     7,000,000	i	Flagstar Home Equity Loan Trust Series 2007-1A
		(Class AF3)	5.781%	01/25/35	Aaa	$	6,900,978
388,534	i	GMAC Mortgage Corporation Loan Trust 2005-
		HE2 A3	4.622	11/25/35	Aaa		384,785
1,435,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A3	5.590	10/25/29	Aaa		1,428,432
1,350,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A4	5.810	10/25/29	Aaa		1,330,592
1,175,285	i	Golden Securities Corp Series 2003-A (Class A1)	5.620	12/02/13	Aaa		1,174,698
9,000,000		Hertz Vehicle Financing LLC Series 2005-1A
		(Class A3)	5.010	02/25/11	Aaa		8,901,270
2,000,000		Hertz Vehicle Financing LLC Series 2005-1A
		(Class A5)	5.080	11/25/11	Aaa		1,972,222
3,000,000		Hertz Vehicle Financing LLC Series 2005-2A
		(Class A2)	4.930	02/25/10	Aaa		2,979,015
2,912,666	i	HFC Home Equity Loan Asset Backed Certificates
		Series 2006-4 (Class A1F)	5.790	03/20/36	Aaa		2,906,276
2,738,564	i	HFC Home Equity Loan Asset Backed Certificates
		Series 2007-1 (Class A1F)	5.910	03/20/36	Aaa		2,736,226
5,000,000	i	HFC Home Equity Loan Asset Backed Certificates
		Series 2007-1 (Class A3F)	5.730	03/20/36	Aaa		4,952,415
15,000,000		Honda Auto Receivables Owner Trust Series 2007-
		1 (Class A4)	5.090	07/18/13	NR		14,880,315
2,020,000		Household Automotive Trust Series 2006-2 (Class
		A3)	5.610	08/17/11	Aaa		2,026,113
6,760,000		Household Credit Card Master Note Trust I Series
		2006-1 (Class A)	5.100	06/15/12	Aaa		6,726,768
15,000,000		Hyundai Auto Receivables Trust Series 2006-A
		(Class A3)	5.130	06/15/10	Aaa		14,980,170
2,000,000		JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-CB18 (Class A4)	5.440	06/12/47	Aaa		1,932,698
1,020,027	d	JPMorgan Auto Receivables Trust Series 2007-A
		(Class A1)	5.344	02/15/08	P-1		1,020,472
3,000,000		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A3)	5.190	02/15/11	Aaa		2,992,071
93,654		Long Beach Asset Holdings Corp Series 2006-4
		(Class N1)	5.877	06/25/46	NR		70,241
523,532	v	Long Beach Asset Holdings Corp Series 2006-6
		(Class N1)	6.072	09/25/46	NR		392,649
2,328,847		Marriott Vacation Club Owner Trust Series 2006-
		1A (Class A)	5.737	04/20/28	Aaa		2,331,845
3,000,000	v	Marriott Vacation Club Owner Trust Series 2007-
		1A (Class A)	5.518	05/20/29	Aaa		3,005,273
3,380,000		Morgan Stanley Capital I Series 2005-HQ5 (Class
		A2)	4.809	01/14/42	NR		3,329,472
2,000,000	i	Morgan Stanley Capital I Series 2006-HE1 (Class
		A2)	5.440	01/25/36	Aaa		1,999,350
675,000	i	Morgan Stanley Capital I Series 2006-T21 (Class
		AJ)	5.273	10/12/52	Aaa		646,190
9,200,000		Nissan Auto Lease Trust Series 2006-A (Class A3)	5.110	03/15/10	Aaa		9,168,876
3,800,000		Nissan Auto Lease Trust Series 2006-A (Class A4)	5.100	07/16/12	Aaa		3,779,362

358

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     5,000,000		Nissan Auto Receivables Owner Trust Series 2007-
		A (Class A3)	5.100%	11/15/10	Aaa	$	4,985,440
370,000		Peco Energy Transition Trust Series 1999-A (Class
		A7)	6.130	03/01/09	Aaa		371,471
254,470		Public Service New Hampshire Funding LLC
		Series 2001-1 (Class A2)	5.730	11/01/10	Aaa		255,150
8,000,000	i	Residential Asset Mortgage Products, Inc Series
		2004-RS11 (Class M1)	5.940	11/25/34	Aa1		8,029,480
430,894		Residential Asset Securities Corp Series 2001-KS2
		(Class AI6)	6.489	10/25/30	Aaa		430,169
1,350,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-H12 (Class A2)	5.750	02/25/36	Aaa		1,347,731
1,600,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class A3)	5.570	02/25/36	Aaa		1,572,747
200,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M2)	6.060	02/25/36	Aa2		195,067
2,020,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A3)	5.960	02/25/36	Aaa		2,018,144
6,760,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI4 (Class A3)	5.440	09/25/36	Aaa		6,669,551
1,400,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI5 (Class A2)	5.520	04/25/21	Aaa		1,392,244
2,500,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI5 (Class A3)	5.500	08/25/25	Aaa		2,467,415
2,020,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HSA2 (Class AI3)	5.550	03/25/36	Aaa		2,005,288
1,124,320	v	Sierra Receivables Funding Co Series 2006-1A
		(Class A1)	5.840	05/20/18	Aaa		1,127,020
7,949,378	v	Sonic Capital LLC Series 2006-1A (Class A2)	5.096	12/20/31	Aaa		7,765,238
5,000,000		Triad Auto Receivables Owner Trust Series 2005-
		A (Class A4)	4.220	06/12/12	Aaa		4,916,750
9,000,000	d	Volkswagen Auto Lease Trust Series 2006-A
		(Class A3)	5.500	09/21/09	Aaa		9,012,249
10,000,000	d	Volkswagen Auto Lease Trust Series 2006-A
		(Class A4)	5.540	04/20/11	Aaa		10,023,910
8,000,000		Wachovia Auto Loan Owner Trust Series 2006-2A
		(Class A3)	5.230	08/22/11	Aaa		7,987,224
1,045,634	i	Wachovia Loan Trust Series 2005-SD1 (Class A)	5.680	05/25/35	NR		1,045,092
		TOTAL ASSET BACKED					233,229,555
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.20%
1,720,000		Home Depot, Inc	5.400	03/01/16	Aa3		1,612,142
1,350,000		Lowe's Cos, Inc	8.250	06/01/10	A1		1,442,782
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					3,054,924
CHEMICALS AND ALLIED PRODUCTS - 0.40%
1,620,000		Abbott Laboratories	5.600	05/15/11	A1		1,626,653
2,250,000	g	Amgen, Inc	5.850	06/01/17	A2		2,213,284
740,000		Ecolab, Inc	6.875	02/01/11	A2		768,971
280,000		EI Du Pont de Nemours & Co	3.375	11/15/07	A2		277,961
1,105,000		EI Du Pont de Nemours & Co	4.125	03/06/13	A2		1,017,407
250,000		Lubrizol Corp	4.625	10/01/09	Baa3		245,032
		TOTAL CHEMICALS AND ALLIED PRODUCTS					6,149,308

359

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
COMMUNICATIONS - 2.22%
$     1,168,000		Alamosa Delaware, Inc	11.00%	07/31/10	Baa3	$	1,236,620
670,000		America Movil S.A. de C.V.	6.375	03/01/35	A3		652,707
16,000		AT&T Corp	6.000	03/15/09	NR		16,114
1,350,000		AT&T, Inc	5.100	09/15/14	A2		1,288,705
900,000		AT&T, Inc	5.625	06/15/16	A2		878,028
940,000		AT&T, Inc	6.150	09/15/34	A2		900,771
180,000		BellSouth Corp	6.875	10/15/31	A2		185,322
5,000,000		Comcast Corp	5.875	02/15/18	Baa2		4,847,868
1,180,000		Comcast Corp	5.650	06/15/35	Baa2		1,030,027
270,000		Comcast Corp	6.500	11/15/35	Baa2		262,245
950,000		Deutsche Telekom International Finance BV	8.250	06/15/30	A3		1,136,851
600,000		Embarq Corp	7.995	06/01/36	Baa3		606,566
330,000		France Telecom S.A.	7.750	03/01/11	A3		352,638
1,330,000		New Cingular Wireless Services, Inc	7.875	03/01/11	A3		1,429,858
370,000		New Cingular Wireless Services, Inc	8.750	03/01/31	A3		462,079
750,000		Rogers Wireless, Inc	7.500	03/15/15	Baa3		798,232
2,530,000		Sprint Capital Corp	8.375	03/15/12	Baa3		2,756,754
2,000,000		Sprint Nextel Corp	6.000	12/01/16	Baa3		1,895,164
1,400,000	h	Telefonica Emisiones SAU	6.221	07/03/17	Baa1		1,400,041
1,700,000	g	Time Warner Cable, Inc	5.400	07/02/12	Baa2		1,668,761
2,300,000	g	Time Warner Cable, Inc	5.850	05/01/17	Baa2		2,235,964
500,000	g	Time Warner Cable, Inc	6.550	05/01/37	Baa2		482,607
430,000		Verizon Communications, Inc	5.850	09/15/35	A3		394,685
670,000		Verizon New England, Inc	4.750	10/01/13	Baa1		621,195
1,120,000		Verizon New Jersey, Inc	5.875	01/17/12	A3		1,115,395
500,000		Verizon Virginia, Inc	4.625	03/15/13	Baa1		462,354
1,790,000		Viacom, Inc	5.750	04/30/11	Baa3		1,787,483
670,000		Viacom, Inc	6.875	04/30/36	Baa3		647,752
1,000,000		Vodafone Group plc	5.625	02/27/17	Baa1		956,461
1,750,000		Vodafone Group plc	6.150	02/27/37	Baa1		1,631,312
		TOTAL COMMUNICATIONS					34,140,559
DEPOSITORY INSTITUTIONS - 3.99%
1,350,000	g	American Honda Finance Corp	5.125	12/15/10	Aa3		1,336,759
500,000		Bank of America Corp	6.250	04/15/12	Aa1		514,940
2,000,000		Bank of America Corp	4.875	09/15/12	Aa1		1,938,754
1,400,000		Bank of America NA	5.300	03/15/17	Aa1		1,334,432
1,350,000		Bank of America NA	6.000	10/15/36	Aa1		1,301,712
1,350,000		Bank One Corp	2.625	06/30/08	Aa2		1,314,860
2,225,000		Bank One Corp	5.250	01/30/13	Aa3		2,172,358
700,000	i	BB&T Capital Trust IV	6.820	06/12/57	A1		698,425
840,000	g,i	BOI Capital Funding No. 2 LP	5.571	12/30/49	A1		796,474
500,000		Capital One Bank	5.125	02/15/14	A2		479,489
750,000		Citigroup, Inc	5.100	09/29/11	Aa1		737,916
1,100,000		Citigroup, Inc	5.250	02/27/12	Aa1		1,086,150
2,570,000	e	Citigroup, Inc	5.125	05/05/14	Aa1		2,482,702
1,720,000		Citigroup, Inc	5.850	12/11/34	Aa1		1,643,762
750,000	g,i	Credit Agricole S.A.	6.637	12/30/49	Aa3e		729,050
13,700,000	g	Depfa ACS Bank	5.125	03/16/37	Aaa		12,553,461
410,000		FIA Card Services NA	5.375	01/15/08	Aaa		409,907
650,000		FIA Card Services NA	4.625	08/03/09	Aaa		640,020

360

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     270,000		Golden West Financial Corp	4.750%	10/01/12	Aa3	$	259,914
270,000		Greenpoint Financial Corp	3.200	06/06/08	A3		264,291
1,050,000	i	Huntington Capital III	6.650	05/15/37	Baa1		1,004,537
670,000	ie	ING Groep NV	5.775	12/30/49	A1		645,924
370,000		JPMorgan Chase & Co	7.875	06/15/10	Aa3		393,416
250,000	e	JPMorgan Chase & Co	4.500	01/15/12	Aa2		239,311
560,000		M&I Marshall & Ilsley Bank	4.125	09/04/07	Aa3		558,925
1,690,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3e		1,645,250
500,000	i	Manufacturers & Traders Trust Co	5.629	12/01/21	A2		478,785
370,000		Mellon Funding Corp	6.400	05/14/11	Aa3		380,414
370,000		National Westminster Bank plc	7.375	10/01/09	Aa1		384,503
670,000		Popular North America, Inc	3.875	10/01/08	A2		655,166
840,000		Popular North America, Inc	5.650	04/15/09	A2		838,088
330,000	g,i	Rabobank Capital Funding Trust	5.254	12/30/49	Aa2		308,983
810,000		Regions Financial Corp	6.375	05/15/12	A2		831,913
500,000	g,i	Societe Generale	5.922	12/30/49	A1		484,115
1,010,000		Union Bank of California NA	5.950	05/11/16	A1		1,004,388
940,000		US Bank NA	5.700	12/15/08	Aa2		943,088
550,000		Wachovia Bank NA	4.850	07/30/07	Aa1		549,763
1,010,000		Wachovia Bank NA	4.800	11/01/14	Aa2		949,677
2,000,000		Wachovia Bank NA	5.850	02/01/37	Aa2		1,883,041
1,350,000		Wachovia Corp	5.300	10/15/11	Aa3		1,336,206
940,000		Wachovia Corp	5.250	08/01/14	A1		908,650
1,400,000		Wachovia Corp	5.750	06/15/17	Aa3e		1,384,211
1,350,000	e	Washington Mutual, Inc	5.500	08/24/11	A2		1,337,165
2,530,000	e	Wells Fargo & Co	5.300	08/26/11	Aa1		2,510,437
2,190,000		Wells Fargo Bank NA	6.450	02/01/11	Aa1		2,254,644
4,550,000		Wells Fargo Bank NA	4.750	02/09/15	Aa1		4,264,447
670,000		Wells Fargo Bank NA	5.950	08/26/36	Aa1		656,558
		TOTAL DEPOSITORY INSTITUTIONS					61,526,981
ELECTRIC, GAS, AND SANITARY SERVICES - 1.55%
770,000		Atmos Energy Corp	4.000	10/15/09	Baa3		743,931
330,000	e	Carolina Power & Light Co	5.700	04/01/35	A2		307,297
270,000		CenterPoint Energy Resources Corp	7.875	04/01/13	Baa3		294,542
1,000,000		CenterPoint Energy Resources Corp	6.250	02/01/37	Baa3		963,091
1,000,000		Centerpoint Energy, Inc	5.950	02/01/17	Ba1		979,922
1,000,000		Commonwealth Edison Co	3.700	02/01/08	Baa2		988,368
939,000		Consolidated Natural Gas Co	6.250	11/01/11	Baa1		961,067
330,000		Consolidated Natural Gas Co	5.000	12/01/14	Baa1		313,669
500,000		Consumers Energy Co	4.400	08/15/09	Baa1		488,570
1,915,000		FirstEnergy Corp	6.450	11/15/11	Baa3		1,971,315
1,010,000	e	Florida Power & Light Co	4.850	02/01/13	Aa3		972,628
670,000		Florida Power Corp	4.500	06/01/10	A2		651,910
750,000	i	FPL Group Capital, Inc	6.350	10/01/66	A3		725,483
270,000		National Fuel Gas Co	5.250	03/01/13	Baa1		262,125
560,000		National Rural Utilities Cooperative Finance Corp	5.750	08/28/09	A2		563,075
2,020,000		Nisource Finance Corp	5.400	07/15/14	Baa3		1,942,163
1,350,000		Northern States Power Co	6.250	06/01/36	A2		1,375,911
670,000		Northern States Power-Minnesota	5.250	07/15/35	A2		593,338
330,000		Ohio Power Co	5.300	11/01/10	A3		327,373
670,000		ONEOK Partners LP	5.900	04/01/12	Baa2		673,814
2,020,000		Pacific Gas & Electric Co	4.200	03/01/11	Baa1		1,928,659

361

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     1,000,000		Pacific Gas & Electric Co	5.800%	03/01/37	Baa1	$	933,495
270,000		Public Service Co of Colorado	5.500	04/01/14	A3		266,381
330,000	e	Puget Sound Energy, Inc	6.274	03/15/37	Baa2		323,290
250,000	e	Southern California Edison Co	6.000	01/15/34	A2		248,111
770,000		Southern California Edison Co	5.350	07/15/35	A2		695,978
740,000		Texas Eastern Transmission LP	5.250	07/15/07	A3		739,872
1,100,000		Texas Eastern Transmission LP	7.300	12/01/10	A3		1,156,191
220,000		TXU Electric Delivery Co	7.250	01/15/33	Baa2		238,181
1,280,000		Virginia Electric and Power Co	4.750	03/01/13	Baa1		1,219,899
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					23,849,649
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.08%
840,000		Cisco Systems, Inc	5.500	02/22/16	A1		820,179
370,000		Cooper Industries, Inc	5.250	07/01/07	NR		370,000
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					1,190,179
FOOD AND KINDRED PRODUCTS - 0.41%
1,101,000		Archer-Daniels-Midland Co	7.125	03/01/13	A2		1,172,635
270,000		Bottling Group LLC	4.625	11/15/12	Aa2		259,017
600,000		Bunge Ltd Finance Corp	5.100	07/15/15	Baa2		549,415
670,000		Companhia Brasileira de Bebidas	8.750	09/15/13	Baa1		760,450
740,000		Coors Brewing Co	6.375	05/15/12	Baa2		762,234
1,500,000		Diageo Capital plc	5.125	01/30/12	A3		1,468,489
370,000		Kellogg Co	6.600	04/01/11	A3		381,842
330,000		Kraft Foods, Inc	6.500	11/01/31	Baa1		319,506
670,000		WM Wrigley Jr Co	4.650	07/15/15	A1		621,011
		TOTAL FOOD AND KINDRED PRODUCTS					6,294,599
FOOD STORES - 0.12%
740,000		Kroger Co	6.800	04/01/11	Baa2		763,809
670,000		Safeway, Inc	4.125	11/01/08	Baa2		657,178
370,000	e	Safeway, Inc	7.250	02/01/31	Baa2		383,744
		TOTAL FOOD STORES					1,804,731
FURNITURE AND FIXTURES - 0.04%
560,000	e	Masco Corp	4.625	08/15/07	Baa1		559,315
		TOTAL FURNITURE AND FIXTURES					559,315
GENERAL MERCHANDISE STORES - 0.36%
670,000		May Department Stores Co	3.950	07/15/07	Baa2		669,652
1,900,000		Target Corp	5.375	05/01/17	A1		1,822,032
930,000		Wal-Mart Stores, Inc	6.875	08/10/09	Aa2		956,860
1,350,000		Wal-Mart Stores, Inc	4.000	01/15/10	Aa2		1,305,899
770,000		Wal-Mart Stores, Inc	4.125	02/15/11	Aa2		738,569
		TOTAL GENERAL MERCHANDISE STORES					5,493,012
HEALTH SERVICES - 0.07%
1,150,000		Quest Diagnostics, Inc	6.400	07/01/17	Baa3		1,160,880
		TOTAL HEALTH SERVICES					1,160,880
HOLDING AND OTHER INVESTMENT OFFICES - 0.40%
670,000		Archstone-Smith Trust	5.750	03/15/16	Baa1		669,454
1,100,000		BHP Billiton Finance Ltd	5.400	03/29/17	A1		1,057,950

362

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     500,000		Colonial Properties Trust	6.250%	06/15/14	Baa3	$	504,728
1,350,000		iStar Financial, Inc	5.150	03/01/12	Baa2		1,300,657
500,000		iStar Financial, Inc	5.700	03/01/14	Baa2		487,806
1,500,000	e	iStar Financial, Inc	5.850	03/15/17	Baa2		1,430,378
670,000		Simon Property Group LP	5.600	09/01/11	A3		669,727
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					6,120,700
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.58%
1,500,000	g	Atlas Copco AB	5.600	05/22/17	A3		1,461,634
870,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		845,460
1,690,000		Caterpillar, Inc	6.050	08/15/36	A2		1,660,944
935,000		Dover Corp	6.500	02/15/11	A2		961,898
2,000,000		Hewlett-Packard Co	5.250	03/01/12	A2		1,975,557
1,000,000		Hewlett-Packard Co	5.400	03/01/17	A2		965,568
1,010,000		John Deere Capital Corp	7.000	03/15/12	A2		1,067,338
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					8,938,399
INSTRUMENTS AND RELATED PRODUCTS - 0.08%
270,000		Johnson & Johnson	3.800	05/15/13	Aaa		248,999
600,000		Medtronic, Inc	4.750	09/15/15	A1		555,923
500,000		Thermo Fisher Scientific, Inc	5.000	06/01/15	Baa2		461,390
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					1,266,312
INSURANCE CARRIERS - 0.94%
1,350,000		Aetna, Inc	6.625	06/15/36	A3		1,370,531
330,000		Allstate Corp	5.000	08/15/14	A1		316,413
1,350,000		American International Group, Inc	5.050	10/01/15	Aa2		1,292,713
2,200,000	i	Chubb Corp	6.375	03/29/37	A3		2,139,104
750,000		Chubb Corp	6.000	05/11/37	A2		717,169
670,000	g	Liberty Mutual Group, Inc	6.500	03/15/35	Baa2		609,502
500,000	g	Mantis Reef Ltd	4.799	11/03/09	A3		490,344
770,000		Metlife, Inc	5.000	06/15/15	A2		731,607
500,000		Metlife, Inc	5.700	06/15/35	A2		462,167
1,010,000	g	Pricoa Global Funding I	3.900	12/15/08	Aa3		987,199
1,700,000	g	Principal Life Global Funding I	5.125	10/15/13	Aa2		1,663,943
1,600,000	g	Prudential Funding LLC	6.750	09/15/23	A1		1,662,317
670,000		UnitedHealth Group, Inc	5.250	03/15/11	A3		662,218
750,000		WellPoint, Inc	5.875	06/15/17	Baa1		741,864
655,000		WellPoint, Inc	5.850	01/15/36	Baa1		597,094
		TOTAL INSURANCE CARRIERS					14,444,185
METAL MINING - 0.09%
330,000		Barrick Gold Finance Co	4.875	11/15/14	Baa1		309,417
670,000	g	Corp Nacional del Cobre de Chile - CODELCO	4.750	10/15/14	Aa3		625,448
500,000		Vale Overseas Ltd	6.250	01/11/16	Baa3		497,045
		TOTAL METAL MINING					1,431,910
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.08%
770,000	g	Controladora Mabe S.A. C.V.	6.500	12/15/15	NR		771,925
560,000		Harsco Corp	5.125	09/15/13	A3		540,715
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES					1,312,640

363

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
MISCELLANEOUS RETAIL - 0.13%
$     2,150,000		CVS Caremark Corp	5.750%	06/01/17	Baa2	$	2,074,232
		TOTAL MISCELLANEOUS RETAIL					2,074,232
MOTION PICTURES - 0.32%
1,310,000		Historic TW, Inc	6.625	05/15/29	Baa2		1,272,749
330,000		News America, Inc	7.625	11/30/28	Baa2		357,234
2,500,000	g	News America, Inc	6.150	03/01/37	Baa2		2,303,328
910,000		Time Warner, Inc	6.875	05/01/12	Baa2		949,506
		TOTAL MOTION PICTURES					4,882,817
NONDEPOSITORY INSTITUTIONS - 2.79%
11,300,000	g	BA Covered Bond Issuer	5.500	06/14/12	Aaa		11,338,287
1,900,000		Boeing Capital Corp Ltd	6.100	03/01/11	A2		1,942,985
1,480,000		Capital One Financial Corp	5.700	09/15/11	A3		1,473,379
1,010,000		Capital One Financial Corp	5.500	06/01/15	A3		970,465
900,000		CIT Group Funding Co of Canada	5.200	06/01/15	A2		837,357
950,000		CIT Group, Inc	5.400	02/13/12	A2		930,651
1,800,000		CIT Group, Inc	5.850	09/15/16	A2		1,735,290
8,000,000		General Electric Capital Corp	5.500	06/04/14	Aaa		7,907,687
330,000	g,i	HSBC Capital Funding LP	4.610	12/30/49	A1		309,277
1,520,000		HSBC Finance Corp	5.250	01/14/11	Aa3		1,501,734
750,000		HSBC Finance Corp	5.900	06/19/12	Aa3		754,179
1,690,000	e	HSBC Finance Corp	5.250	04/15/15	Aa3		1,608,803
3,750,000		HSBC Finance Corp	5.500	01/19/16	Aa3		3,608,775
1,520,000		International Lease Finance Corp	5.450	03/24/11	A1		1,509,821
1,900,000		International Lease Finance Corp	5.650	06/01/14	A1		1,878,180
1,077,000		MBNA Corp	6.125	03/01/13	Aa1		1,095,125
430,000		Residential Capital LLC	6.125	11/21/08	Baa3		426,568
1,000,000		Residential Capital LLC	6.500	06/01/12	Baa3		974,193
1,420,000		Residential Capital LLC	6.500	04/17/13	Baa3		1,371,394
330,000		SLM Corp	5.400	10/25/11	A2		302,769
460,000		Toyota Motor Credit Corp	2.875	08/01/08	Aaa		447,689
		TOTAL NONDEPOSITORY INSTITUTIONS					42,924,608
OIL AND GAS EXTRACTION - 0.71%
1,900,000		Apache Corp	6.000	01/15/37	A3		1,812,392
1,110,000		Baker Hughes, Inc	6.875	01/15/29	A2		1,198,734
600,000		BJ Services Co	5.750	06/01/11	Baa1		598,332
740,000		Devon OEI Operating, Inc	4.375	10/01/07	Baa3		737,838
500,000	g	Empresa Nacional de Petroleo ENAP	6.750	11/15/12	A2		520,872
270,000		Equitable Resources, Inc	5.150	11/15/12	A2		261,389
300,000	g	Lukoil International Finance BV	6.356	06/07/17	Baa2		291,000
330,000		Nexen, Inc	5.050	11/20/13	Baa2		314,716
1,500,000		Nexen, Inc	5.650	05/15/17	Baa2		1,442,728
330,000		PC Financial Partnership	5.000	11/15/14	Baa2		309,975
770,000		Petro-Canada	5.950	05/15/35	Baa2		710,422
500,000	g	Weatherford International, Inc	5.950	06/15/12	Baa1		504,489
2,230,000		XTO Energy, Inc	6.250	04/15/13	Baa2		2,269,685
		TOTAL OIL AND GAS EXTRACTION					10,972,572

364

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
OTHER MORTGAGE BACKED SECURITIES - 4.55%
$     2,230,000		Banc of America Commercial Mortgage, Inc Series
		2002-2 (Class A3)	5.118%	07/11/43	NR	$	2,184,443
2,000,000	i	Banc of America Commercial Mortgage, Inc Series
		2005-1 (Class B)	5.143	11/10/42	NR		1,920,242
650,000	i	Banc of America Commercial Mortgage, Inc Series
		2005-6 (Class AJ)	5.353	09/10/47	Aaa		622,824
670,000	i	Banc of America Commercial Mortgage, Inc Series
		2006-2 (Class A4)	5.930	05/10/45	NR		668,000
2,000,000		Banc of America Commercial Mortgage, Inc Series
		2006-4 (Class A4)	5.634	07/10/46	Aaa		1,963,648
670,000		Banc of America Commercial Mortgage, Inc Series
		2006-5 (Class A4)	5.414	09/10/47	Aaa		648,817
2,144,661		Banc of America Mortgage Securities Series 2006-
		1 (Class A8)	6.000	05/01/36	Aaa		2,145,956
428,317		Bank of America Alternative Loan Trust Series
		2004-8 (Class 3A1)	5.500	09/25/19	Aaa		425,502
2,000,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2005-PW10 (Class AJ)	5.615	12/11/40	NR		1,951,312
2,075,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-PW11 (Class A4)	5.625	03/11/39	NR		2,033,064
1,500,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-PW12 (Class A4)	5.895	09/11/38	Aaa		1,493,276
2,000,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-PW14 (Class A4)	5.201	12/11/38	NR		1,903,946
1,000,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-T22 (Class A4)	5.633	04/12/38	Aaa		984,263
1,465,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-T24 (Class A4)	5.537	10/12/41	Aaa		1,432,798
2,020,000		Citigroup/Deutsche Bank Commercial Mortgage
		Trust Series 2006-CD3 (Class A5)	5.617	10/15/48	Aaa		1,983,893
3,945,613		Citimortgage Alternative Loan Trust Series 2006-
		A1 (Class 2A1)	5.250	03/25/21	Aaa		3,830,946
1,647,416		Countrywide Home Loan Mortgage Pass Through
		Trust Series 2005-17 (Class 1A10)	5.250	09/25/35	NR		1,627,885
1,480,000	i	Credit Suisse Mortgage Capital Certificates Series
		2006-C1 (Class A4)	5.609	02/15/39	NR		1,451,520
1,400,000	i	Credit Suisse Mortgage Capital Certificates Series
		2006-C2 (Class A3)	5.847	03/15/39	Aaa		1,386,903
1,620,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C4 (Class A3)	5.467	09/15/39	Aaa		1,571,823
2,000,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C5 (Class A3)	5.311	12/15/39	Aaa		1,917,394
3,000,000	i	Credit Suisse/Morgan Stanley Commercial
		Mortgage Certificate Series HC1A (Class A1)	5.510	05/15/23	Aaa		3,002,331
1,120,000		GE Capital Commercial Mortgage Corp Series
		2003-C2 (Class A4)	5.145	07/10/37	Aaa		1,088,275
1,350,000	i	Greenwich Capital Commercial Funding Corp
		Series 2004-GG1 (Class A7)	5.317	06/10/36	Aaa		1,318,793
1,350,000		GS Mortgage Securities Corp II Series 2006-GG8
		(Class A4)	5.560	11/10/39	Aaa		1,320,524
1,490,000		JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2003-CB6 (Class A2)	5.255	07/12/37	Aaa		1,455,346

365

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     2,500,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-LD11 (Class AJ)	6.007%	06/15/49	Aaa	$	2,465,504
6,760,000	i	LB-UBS Commercial Mortgage Trust Series 2004-
		C7 (Class A6)	4.786	10/15/29	Aaa		6,383,799
870,000		LB-UBS Commercial Mortgage Trust Series 2005-
		C3 (Class A2)	4.553	07/15/30	Aaa		850,028
1,350,000	i	LB-UBS Commercial Mortgage Trust Series 2005-
		C5 (Class AJ)	5.057	09/15/40	NR		1,277,807
1,000,000	i	LB-UBS Commercial Mortgage Trust Series 2006-
		C4 (Class A4)	6.097	06/15/38	Aaa		1,007,290
870,000	i	Merrill Lynch Mortgage Trust Series 2005-LC1
		(Class A4)	5.291	01/12/44	Aaa		839,194
700,000	i	Merrill Lynch Mortgage Trust Series 2006-C1
		(Class A4)	5.843	05/12/39	NR		695,010
1,400,000	i	Merrill Lynch/Countrywide Commercial Mortgage
		Trust Series 2006-1 (Class A4)	5.608	02/12/39	NR		1,368,139
2,000,000	i	Morgan Stanley Capital I Series 2006-HQ8 (Class
		AJ)	5.641	03/12/44	Aaa		1,955,090
670,000	i	Morgan Stanley Capital I Series 2006-HQ9 (Class
		A4)	5.731	07/12/44	NR		663,672
300,000	i	Morgan Stanley Capital I Series 2006-IQ11 (Class
		AJ)	5.949	10/15/42	NR		296,424
1,350,000	i	Wachovia Bank Commercial Mortgage Trust
		Series 2005-C20 (Class A7)	5.118	07/15/42	Aaa		1,290,476
540,000	i	Wachovia Bank Commercial Mortgage Trust
		Series 2006-C24 (Class A3)	5.558	03/15/45	Aaa		528,846
6,023,003		Washington Mutual, Inc Series 2003-S10 (Class
		A1)	4.500	10/25/18	NR		5,789,125
2,437,554		Wells Fargo Mortgage Backed Securities Trust
		Series 2005-1 (Class 2A1)	5.000	01/25/20	Aaa		2,385,186
		TOTAL OTHER MORTGAGE BACKED SECURITIES					70,129,314
PAPER AND ALLIED PRODUCTS - 0.11%
670,000		Bemis Co, Inc	4.875	04/01/12	Baa1		645,100
1,120,000		Kimberly-Clark Corp	7.100	08/01/07	Aa3		1,121,303
		TOTAL PAPER AND ALLIED PRODUCTS					1,766,403
PETROLEUM AND COAL PRODUCTS - 0.11%
670,000		Conoco Funding Co	6.350	10/15/11	A1		691,459
370,000	e	ConocoPhillips	5.900	10/15/32	A1		360,607
700,000		Valero Energy Corp	6.625	06/15/37	Baa3		698,827
		TOTAL PETROLEUM AND COAL PRODUCTS					1,750,893
PIPELINES, EXCEPT NATURAL GAS - 0.45%
670,000		Enbridge Energy Partners LP	4.000	01/15/09	Baa2		655,044
270,000		Enterprise Products Operating LP	4.000	10/15/07	Baa3		268,881
330,000		Enterprise Products Operating LP	4.950	06/01/10	Baa3		324,431
500,000		Enterprise Products Operating LP	5.600	10/15/14	Baa3		487,402
370,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		365,776
670,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		658,215
370,000		TransCanada Pipelines Ltd	4.000	06/15/13	A2		337,018
2,900,000		TransCanada Pipelines Ltd	7.690	06/30/16	A2		3,272,047

366

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     600,000		TransCanada Pipelines Ltd	5.850%	03/15/36	A2	$	568,301
		TOTAL PIPELINES, EXCEPT NATURAL GAS					6,937,115
RAILROAD TRANSPORTATION - 0.35%
670,000		Burlington Northern Santa Fe Corp	6.750	07/15/11	Baa1		694,340
750,000		Burlington Northern Santa Fe Corp	5.650	05/01/17	Baa1		728,947
750,000		Burlington Northern Santa Fe Corp	6.150	05/01/37	Baa1		724,339
370,000		Canadian National Railway Co	4.400	03/15/13	A3		345,444
710,000		Canadian National Railway Co	6.200	06/01/36	A3		698,023
500,000	e	CSX Corp	6.000	10/01/36	Baa3		463,881
1,263,000		Norfolk Southern Corp	5.590	05/17/25	Baa1		1,146,473
187,000		Norfolk Southern Corp	7.250	02/15/31	Baa1		201,252
330,000		Union Pacific Corp	6.500	04/15/12	Baa2		339,533
		TOTAL RAILROAD TRANSPORTATION					5,342,232
REAL ESTATE - 0.05%
750,000	g,i	USB Realty Corp	6.091	12/30/49	A1		735,677
		TOTAL REAL ESTATE					735,677
SECURITY AND COMMODITY BROKERS - 1.81%
1,500,000		Bear Stearns Cos, Inc	5.700	11/15/14	A1		1,463,760
930,000		Burlington Resources Finance Co	6.400	08/15/11	A2		960,011
1,110,000		Burlington Resources Finance Co	7.200	08/15/31	A2		1,248,275
1,450,000		Credit Suisse USA, Inc	5.500	08/16/11	Aa1		1,446,795
1,000,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		975,945
430,000		Goldman Sachs Group, Inc	5.000	01/15/11	Aa3		421,692
1,500,000		Goldman Sachs Group, Inc	5.300	02/14/12	Aa3		1,475,903
670,000		Goldman Sachs Group, Inc	4.750	07/15/13	Aa3		632,920
430,000		Goldman Sachs Group, Inc	5.500	11/15/14	Aa3		419,790
800,000		Goldman Sachs Group, Inc	5.625	01/15/17	A1		766,080
1,380,000		Goldman Sachs Group, Inc	5.950	01/15/27	A1		1,304,275
750,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3e		734,669
1,700,000		Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		1,669,393
550,000	i	Lehman Brothers Holdings, Inc	6.000	05/03/32	A2		515,032
670,000		Merrill Lynch & Co, Inc	5.000	02/03/14	Aa3		640,584
750,000		Merrill Lynch & Co, Inc	5.700	05/02/17	A1		722,056
1,450,000		Merrill Lynch & Co, Inc	6.110	01/29/37	A1		1,362,074
2,360,000		Morgan Stanley	3.625	04/01/08	Aa3		2,327,739
1,190,000		Morgan Stanley	5.750	10/18/16	Aa3		1,155,683
2,500,000		Morgan Stanley	5.450	01/09/17	Aa3		2,369,966
840,000		Morgan Stanley	6.250	08/09/26	Aa3		832,788
4,280,570	g	Morgan Stanley Tracers	6.789	06/15/12	Baa2		4,393,107
		TOTAL SECURITY AND COMMODITY BROKERS					27,838,537
TRANSPORTATION BY AIR - 0.06%
1,010,000		FedEx Corp	5.500	08/15/09	Baa2		1,008,468
		TOTAL TRANSPORTATION BY AIR					1,008,468
TRANSPORTATION EQUIPMENT - 0.56%
2,020,000	g	BAE Systems Holdings, Inc	6.400	12/15/11	Baa2		2,077,931
670,000		DaimlerChrysler NA Holding Corp	5.875	03/15/11	Baa1		673,384
1,350,000		DaimlerChrysler NA Holding Corp	5.750	09/08/11	Baa1		1,351,423
270,000		DaimlerChrysler NA Holding Corp	6.500	11/15/13	Baa1		278,758
330,000		General Dynamics Corp	3.000	05/15/08	A2		323,368

367

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     1,600,000		Honeywell International, Inc	5.700%	03/15/37	A2	$	1,474,128
370,000		Lockheed Martin Corp	6.150	09/01/36	Baa1		369,099
270,000		Northrop Grumman Corp	7.750	02/15/31	Baa1		320,859
740,000		United Technologies Corp	6.350	03/01/11	A2		762,322
1,010,000		United Technologies Corp	6.050	06/01/36	A2		1,002,120
		TOTAL TRANSPORTATION EQUIPMENT					8,633,392
WHOLESALE TRADE-DURABLE GOODS - 0.11%
1,000,000		Vale Overseas Ltd	6.250	01/23/17	Baa3		993,500
650,000		Vale Overseas Ltd	6.875	11/21/36	Baa3		652,197
		TOTAL WHOLESALE TRADE-DURABLE GOODS					1,645,697
WHOLESALE TRADE-NONDURABLE GOODS - 0.27%
180,000		Colgate-Palmolive Co	6.450	06/16/28	Aa3		193,168
1,960,000		Procter & Gamble Co	4.950	08/15/14	Aa3		1,888,054
2,300,000		Procter & Gamble Co	5.550	03/05/37	Aa3		2,168,414
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					4,249,636
		TOTAL CORPORATE BONDS					604,351,111
		(Cost $613,639,977)
GOVERNMENT BONDS - 59.21%
AGENCY SECURITIES - 7.76%
1,630,333		Cal Dive I- Title XI, Inc	4.930	02/01/27	NR		1,523,123
1,690,000		Federal Farm Credit Bank (FFCB)	3.375	07/15/08	Aaa		1,658,322
1,690,000		FFCB	4.125	04/15/09	Aaa		1,660,276
1,280,000		Federal Home Loan Mortgage Corp (FHLMC)	4.000	08/17/07	Aaa		1,277,710
8,790,000		FHLMC	4.375	11/16/07	Aaa		8,757,442
1,010,000		FHLMC	3.750	02/27/09	Aaa		986,573
10,000,000		FHLMC	5.000	06/11/09	Aaa		9,966,844
13,688,000		FHLMC	5.875	03/21/11	Aa2		13,929,184
7,500,000		FHLMC	5.500	08/20/12	Aaa		7,558,852
7,670,000		FHLMC	5.125	10/18/16	Aaa		7,483,657
2,700,000		Federal National Mortgage Association (FNMA)	3.750	08/15/07	Aaa		2,694,595
3,380,000		FNMA	5.250	06/15/08	Aaa		3,378,382
32,260,000		Federal National Mortgage Association (FNMA)	5.000	09/15/08	Aaa		32,181,476
6,760,000		FNMA	3.660	02/25/09	Aaa		6,589,737
4,200,000		FNMA	7.125	06/15/10	Aaa		4,416,943
5,000,000		FNMA	5.375	06/12/17	Aaa		4,959,670
1,761,244		Overseas Private Investment Corp	3.420	01/15/15	NR		1,660,237
670,000		Private Export Funding Corp	5.870	07/31/08	Aaa		674,257
5,000,000		Private Export Funding Corp	4.900	12/15/11	Aaa		4,929,375
300,000		Private Export Funding Corp	4.950	11/15/15	Aaa		288,233
2,000,000		Private Export Funding Corp	5.000	12/15/16	Aaa		1,933,576
1,054,687		Totem Ocean Trailer Express, Inc	4.514	12/18/19	NR		986,829
		TOTAL AGENCY SECURITIES					119,495,293
FOREIGN GOVERNMENT BONDS - 2.22%
330,000		African Development Bank	3.250	08/01/08	Aaa		323,483
1,010,000		Asian Development Bank/Pasig	4.125	09/15/10	Aaa		980,478
1,690,000	e	Canada Mortgage & Housing Corp	4.800	10/01/10	Aaa		1,669,822
270,000		Chile Government International Bond	5.500	01/15/13	A2		267,325

368

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     1,110,000	e	China Development Bank	5.000%	10/15/15	A2	$	1,060,512
600,000		Development Bank of Japan	4.250	06/09/15	Aaa		553,386
840,000		Eksportfinans A/S	5.000	02/14/12	Aaa		831,608
600,000		European Investment Bank	4.875	02/15/36	Aaa		538,055
1,690,000	g	Federal Republic of Germany	3.875	06/01/10	Aaa		1,636,893
2,020,000		International Finance Corp	5.125	05/02/11	Aaa		2,012,300
1,620,000		Israel Government International Bond	5.500	11/09/16	A2		1,579,394
1,275,000		Italy Government International Bond	5.375	06/12/17	NR		1,261,380
270,000		Korea Development Bank	5.750	09/10/13	Aa3		270,688
670,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		671,685
775,000		Landwirtschaftliche Rentenbank	5.250	07/02/12	Aaa		772,461
3,000,000		Landwirtschaftliche Rentenbank	5.125	02/01/17	Aaa		2,934,256
242,000		Mexico Government International Bond	6.375	01/16/13	Baa1		250,809
646,000		Mexico Government International Bond	5.875	01/15/14	Baa1		652,059
1,650,000	e	Mexico Government International Bond	6.750	09/27/34	Baa1		1,762,068
1,150,000		Oesterreichische Kontrollbank AG.	5.000	04/25/17	Aaa		1,110,919
3,380,000	e	Province of Manitoba Canada	4.450	04/12/10	Aa1		3,311,223
1,500,000		Province of Manitoba Canada	5.000	02/15/12	Aa1		1,483,398
370,000		Province of Ontario	5.500	10/01/08	Aa1		371,243
1,010,000		Province of Ontario	4.750	01/19/16	Aa1		966,781
2,600,000	e	Province of Quebec Canada	5.125	11/14/16	Aa2		2,529,075
930,000		Province of Quebec Canada	7.500	09/15/29	Aa2		1,135,579
1,350,000		Province of Saskatchewan Canada	8.000	02/01/13	Aa1		1,518,507
1,845,000		Svensk Exportkredit AB	5.125	03/01/17	Aa1		1,785,385
		TOTAL FOREIGN GOVERNMENT BONDS					34,240,772
MORTGAGE BACKED SECURITIES - 38.98%
3,500,000		Federal Home Loan Mortgage Corp (FHLMC)	4.875	02/09/10			3,473,845
1,381,401		FHLMC	6.000	09/15/16			1,389,973
2,020,000		FHLMC	5.000	06/15/29			1,971,292
826,598		FHLMC	6.000	12/15/30			830,342
4,050,000		FHLMC	5.000	06/15/31			3,902,949
1,010,000		FHLMC	5.500	05/15/33			978,830
1,791,760		FHLMC	4.500	09/15/35			1,695,166
2,350,771	i	FHLMC	5.091	02/01/36			2,327,482
2,641,540	i	FHLMC	5.009	09/01/36			2,626,095
4,225,433	i	FHLMC	6.146	09/01/36			4,259,956
7,811,131	i	FHLMC	5.803	03/01/37			7,824,910
6,545,198	i	FHLMC	5.650	03/01/37			6,578,334
5,993,278	i	FHLMC	5.893	04/01/37			6,059,025
13,000,000	h	FHLMC	6.000	08/15/37			12,865,944
79,629		Federal Home Loan Mortgage Corp Gold
		(FGLMC)	7.500	01/01/16			82,510
5,385		FGLMC	7.500	05/01/16			5,581
8,009		FGLMC	7.500	06/01/16			8,304
2,844,637		FGLMC	4.500	09/01/18			2,711,397
2,796,666		FGLMC	4.500	01/01/19			2,661,336
4,936,970		FGLMC	4.500	05/01/19			4,698,070
3,591,137		FGLMC	5.000	05/01/20			3,473,230
570,241		FGLMC	4.500	07/01/20			541,469
85,416		FGLMC	7.000	10/01/20			88,640
9,083,220		FGLMC	4.500	06/01/21			8,624,908
14,836,981		FGLMC	4.500	06/01/21			14,088,352

369

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$     9,351		FGLMC	6.500%	10/01/28	$	9,554
130,189	d	FGLMC	6.500	01/01/29		132,999
21,788		FGLMC	6.500	03/01/29		22,259
63,965		FGLMC	6.500	07/01/29		65,344
24,663		FGLMC	8.000	01/01/31		25,995
147,591	d	FGLMC	6.500	09/01/31		150,585
140,135		FGLMC	8.000	09/01/31		147,747
25,314		FGLMC	7.000	10/01/31		26,129
869,461		FGLMC	7.000	12/01/31		898,891
3,664,724		FGLMC	6.000	03/01/33		3,653,672
1,119,593		FGLMC	6.000	03/01/33		1,116,217
607,970		FGLMC	6.000	03/01/33		605,393
4,000,606		FGLMC	5.000	09/01/33		3,769,620
1,511,949		FGLMC	5.500	09/01/33		1,465,226
1,988,518		FGLMC	5.500	09/01/33		1,927,067
1,851,506		FGLMC	5.500	09/01/33		1,794,290
2,304,969		FGLMC	5.500	10/01/33		2,233,739
7,558,005		FGLMC	5.500	12/01/33		7,324,289
6,391,291		FGLMC	5.000	01/01/34		6,022,271
1,071,231		FGLMC	5.500	12/01/34		1,037,093
5,111,824		FGLMC	4.500	04/01/35		4,657,097
2,412,293		FGLMC	6.000	05/01/35		2,394,363
1,603,065		FGLMC	6.000	07/01/35		1,591,150
905,440		FGLMC	6.000	08/01/35		898,710
1,130,506		FGLMC	5.000	10/01/35		1,062,465
3,235,830		FGLMC	5.000	11/01/35		3,041,076
1,140,647		FGLMC	6.000	01/01/36		1,130,963
1,054,606		FGLMC	7.000	01/01/36		1,085,160
3,675,451		FGLMC	5.500	04/01/36		3,546,697
911,734		FGLMC	6.500	05/01/36		921,539
2,725,518		FGLMC	6.500	10/01/36		2,754,826
847,024		FGLMC	6.500	12/01/36		852,638
5,948,606		FGLMC	5.500	01/01/37		5,740,221
9,933,763		FGLMC	5.500	04/01/37		9,581,016
10,914,876		FGLMC	5.500	05/01/37		10,527,290
4,000,000		Federal National Mortgage Association (FNMA)	5.000	10/15/11		3,957,034
108,176		FNMA	5.000	06/01/13		106,297
1,905,919		FNMA	4.440	07/01/13		1,811,868
52,979		FNMA	6.000	09/01/13		53,457
2,278,287		FNMA	4.732	10/01/13		2,189,938
41,575		FNMA	6.500	12/01/13		42,543
1,969,943		FNMA	4.732	02/01/14		1,891,136
33,608		FNMA	6.000	06/01/14		33,814
3,537		FNMA	6.500	07/01/14		3,619
4,556,976		FNMA	4.640	11/01/14		4,338,242
8,402,465		FNMA	4.805	03/01/16		8,210,253
2,569,417		FNMA	6.000	06/25/16		2,569,613
107,385		FNMA	6.500	10/01/16		109,740
459,586	d	FNMA	6.500	11/01/16		469,665
359,145	d	FNMA	6.500	04/01/17		366,714
409,561		FNMA	5.500	04/01/18		404,927
165,140		FNMA	5.500	05/01/18		163,272
1,743,351		FNMA	4.500	10/01/18		1,661,126

370

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$     3,879,265	d	FNMA	5.000%	11/01/18	$	3,763,314
244,457		FNMA	6.000	01/01/19		245,650
417,403		FNMA	4.500	05/01/19		397,127
836,612		FNMA	5.000	11/01/23		798,736
713,748		FNMA	5.500	02/01/24		697,848
413,474		FNMA	5.500	07/01/24		403,992
5,338		FNMA	8.000	07/01/24		5,638
5,366,029		FNMA	5.000	03/01/25		5,110,831
11,755,211		FNMA	5.000	10/01/25		11,196,157
3,060		FNMA	7.500	01/01/29		3,205
12,158		FNMA	6.500	04/01/29		12,409
17,667		FNMA	7.500	07/01/29		18,482
3,771		FNMA	7.500	07/01/29		3,945
3,831		FNMA	7.500	02/01/31		4,002
22,129		FNMA	7.500	03/01/31		23,113
9,822		FNMA	7.500	05/01/31		10,259
21,954		FNMA	6.500	09/01/31		22,382
16,188		FNMA	6.500	10/01/31		16,503
128,328		FNMA	6.500	11/01/31		130,824
277,179		FNMA	6.000	01/01/32		276,076
482,888		FNMA	5.000	02/01/33		454,864
2,720,598		FNMA	5.000	02/01/33		2,561,819
2,515,097		FNMA	4.500	03/25/33		2,397,796
1,410,123		FNMA	4.500	08/01/33		1,286,385
1,148,377		FNMA	5.000	08/01/33		1,081,731
1,010,000		FNMA	5.500	08/25/33		991,287
1,252,902		FNMA	5.500	09/01/33		1,213,928
907,370		FNMA	5.500	09/01/33		879,144
2,443,799		FNMA	4.500	10/01/33		2,229,356
1,247,409		FNMA	5.000	10/01/33		1,175,016
1,300,476		FNMA	5.000	10/01/33		1,225,003
4,757,251		FNMA	5.500	10/01/33		4,609,263
2,893,430		FNMA	5.500	10/01/33		2,803,421
10,427,375		FNMA	5.000	11/01/33		9,822,222
3,463,702		FNMA	5.500	12/01/33		3,355,954
5,203,573		FNMA	6.000	02/01/34		5,173,065
8,959,672		FNMA	5.000	03/01/34		8,439,698
418,071		FNMA	5.000	03/01/34		393,809
470,316		FNMA	5.000	03/01/34		443,022
635,264		FNMA	5.000	03/01/34		598,397
1,279,872		FNMA	5.000	03/01/34		1,205,595
3,631,255		FNMA	5.000	04/01/34		3,416,765
14,956,411		FNMA	5.000	08/01/34		14,072,966
2,118,067		FNMA	5.500	09/01/34		2,050,681
8,097,727		FNMA	5.500	09/01/34		7,840,098
400,000		FNMA	5.500	10/25/34		386,610
1,157,214		FNMA	6.000	11/01/34		1,148,726
1,024,379		FNMA	5.500	01/01/35		991,789
46,848,603		FNMA	5.500	02/01/35		45,391,237
10,715,416		FNMA	5.000	02/25/35		10,407,552
7,429,465		FNMA	5.500	04/01/35		7,193,097
3,899,166		FNMA	5.500	04/01/35		3,770,229
2,469,771		FNMA	6.000	05/01/35		2,447,593

371

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$     1,198,172		FNMA	5.500%	05/01/35	$	1,158,551
154,218		FNMA	7.500	06/01/35		159,548
9,678,336		FNMA	5.500	09/01/35		9,377,262
2,843,852		FNMA	5.000	10/01/35		2,671,928
3,184,398		FNMA	5.500	10/01/35		3,079,097
5,792,766		FNMA	5.500	11/01/35		5,601,212
1,016,305		FNMA	5.000	11/01/35		947,832
673,078		FNMA	5.500	12/01/35		650,821
2,850,151		FNMA	6.000	12/01/35		2,824,557
4,992,246	i	FNMA	5.748	02/01/36		5,035,311
920,208		FNMA	5.000	02/01/36		854,772
544,049		FNMA	5.000	02/01/36		505,362
3,023,316		FNMA	6.500	02/01/36		3,055,750
6,216,562		FNMA	6.000	03/01/36		6,153,514
2,649,723		FNMA	5.500	04/01/36		2,562,102
625,904		FNMA	6.000	06/01/36		619,557
6,274,912	d	FNMA	6.000	06/01/36		6,211,272
3,673,721	i	FNMA	5.949	07/01/36		3,692,749
4,744,125		FNMA	6.000	10/01/36		4,696,011
2,975,460		FNMA	6.500	12/01/36		2,992,391
847,990		FNMA	7.000	02/01/37		870,710
2,377,196		FNMA	6.500	03/01/37		2,399,756
3,283,342		FNMA	7.000	04/01/37		3,371,310
8,000,000		FNMA	6.000	06/01/37		7,917,500
27,000,000	h	FNMA	6.000	08/25/37		26,687,826
18,000,000	h	FNMA	6.500	08/25/37		18,151,884
655		Government National Mortgage Association
		(GNMA)	7.000	01/15/28		683
2,161		GNMA	7.000	02/15/28		2,253
16,558		GNMA	6.500	05/15/28		16,916
2,193		GNMA	7.000	06/15/28		2,287
3,149		GNMA	7.000	06/15/28		3,283
81,455		GNMA	6.500	09/15/28		83,214
18,747		GNMA	6.500	09/15/28		19,153
10,389		GNMA	7.500	11/15/28		10,887
41,705		GNMA	6.500	11/15/28		42,607
22,706		GNMA	7.500	07/15/29		23,788
5,717		GNMA	8.500	07/15/30		6,148
2,485		GNMA	8.500	07/15/30		2,672
50,592		GNMA	8.500	10/15/30		54,400
42,194		GNMA	8.500	10/20/30		45,201
6,356		GNMA	8.500	12/15/30		6,835
9,982		GNMA	7.000	06/20/31		10,376
36,288		GNMA	7.000	07/15/31		37,810
45,317		GNMA	7.000	07/15/31		47,217
17,098		GNMA	6.500	07/15/31		17,456
93,004		GNMA	7.500	02/15/32		97,280
3,986		GNMA	6.500	03/15/33		4,063
2,591,102		GNMA	5.500	09/15/33		2,519,886
1,104,954		GNMA	5.500	02/20/35		1,071,892
7,861,728		GNMA	5.000	03/20/35		7,410,647
7,878,612		GNMA	5.500	05/20/35		7,642,869

372

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     3,214,200		GNMA	5.500%	02/20/36		$	3,115,046
		TOTAL MORTGAGE BACKED SECURITIES					523,506,854
MUNICIPAL BONDS - 0.04%
670,000		Charlotte-Mecklenburg Hospital Authority	5.000	08/01/15	Aaa		643,026
		TOTAL MUNICIPAL BONDS					643,026
U.S. TREASURY SECURITIES - 15.21%
38,536,000	d	United States Treasury Bond	8.000	11/15/21			49,326,850
19,650,000	d	United States Treasury Bond	5.250	02/15/29			19,805,628
194,000		United States Treasury Bond	5.375	02/15/31			199,455
1,212,000		United States Treasury Bond	4.500	02/15/36			1,098,460
5,170,000		United States Treasury Bond	4.750	02/15/37			4,877,585
5,410,000		United States Treasury Note	5.125	06/30/08			5,415,464
2,700,000		United States Treasury Note	3.125	09/15/08			2,642,814
24,180,000		United States Treasury Note	4.875	10/31/08			24,151,225
3,950,000		United States Treasury Note	4.750	01/31/12			3,920,652
10,640,000		United States Treasury Note	4.625	02/29/12			10,506,574
19,730,000		United States Treasury Note	4.500	03/31/12			19,366,969
29,450,000		United States Treasury Note	4.500	04/30/12			28,907,825
10,000,000		United States Treasury Note	4.750	05/31/12			9,922,400
10,000,000		United States Treasury Note	4.875	06/30/12			9,972,660
37,915,000		United States Treasury Note	4.500	05/15/17			36,362,759
22,000,000	j	United States Treasury Strip Principal	0.000	08/15/27			7,767,980
		TOTAL U.S. TREASURY SECURITIES					234,245,300
		TOTAL GOVERNMENT BONDS					912,131,245
		(Cost $930,468,386)
		TOTAL BONDS					1,516,482,356
		(Cost $1,544,108,363)
SHARES		COMPANY
PREFERRED STOCKS - 0.04%
DEPOSITORY INSTITUTIONS - 0.04%
24,000		Bank of America Corp					618,240
		TOTAL DEPOSITORY INSTITUTIONS					618,240
		TOTAL PREFERRED STOCKS					618,240
		(Cost $600,000)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 6.42%
COMMERICAL PAPER - 2.96%
$      5,000,000	d	CC (USA), Inc	0.000%	08/30/07			4,956,561
5,000,000	d	Edison Asset Securitization LLC	0.000%	08/22/07			4,962,303
3,395,000		Kitty Hawk Funding Corp	0.000%	07/16/07			3,387,882
2,345,000		McGraw-Hill, Inc	0.000%	10/22/07			2,306,187
5,000,000		Paccar Financial Corp	0.000%	07/06/07			4,997,056
5,000,000		Procter & Gamble International	0.000%	07/02/07			5,000,000
5,000,000		Rabobank USA Financial Corp	0.000%	07/02/07			5,000,000
5,000,000		Scaldis Capital LLC	0.000%	07/16/07			4,989,518

373

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
			MATURITY	MOODY'S
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
$     5,000,000	Societe Generale North America, Inc	0.000%	07/05/07		$	4,997,792
5,000,000	UBS Finance, (Delaware), Inc	0.000	07/02/07			5,000,000
						45,597,299
SHARES	COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.00%
15,415,787	State Street Navigator Securities Lending Prime Portfolio					15,415,788
						15,415,788
PRINCIPAL	ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 2.46%
$      7,780,000	Federal Home Loan Bank (FHLB)	0.000	07/20/07			7,760,161
15,486,000	Federal National Mortgage Association (FNMA)	0.000	07/03/07			15,483,801
14,605,000	FNMA	0.000	07/25/07			14,557,417
						37,801,379
	TOTAL SHORT-TERM INVESTMENTS					98,814,466
	(Cost $98,803,670)
	TOTAL PORTFOLIO - 104.90%					1,615,915,062
	(Cost $1,643,512,033)
	OTHER ASSETS & LIABILITIES, NET - (4.90)%					(75,434,310	)
	NET ASSETS - 100.00%				$	1,540,480,752

	ABBREVIATION:
	NR - Not Rated
+	As provided by Moody's Investors Service (unaudited).
d	All or a portion of these securities have been segregated by the custodian to cover securities
	purchased on a delayed delivery basis.
e	All or a portion of these securities are out on loan.
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, 2007, the value of these securities amounted to $55,499,928 or 3.60% of net assets.
h	These securities were purchased on a delayed delivery basis.
i	Floating rate or variable rate securities reflects the rate at June 30, 2007.
j	Zero coupon.
v	Security valued at fair value.

374

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
BOND PLUS FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
CORPORATE BONDS - 52.43%
AMUSEMENT AND RECREATION SERVICES - 0.06%
$      350,000		Walt Disney Co	5.700%	07/15/11	A2	$	352,762
		TOTAL AMUSEMENT AND RECREATION SERVICES					352,762
ASSET BACKED - 18.00%
500,000		AmeriCredit Automobile Receivables Trust Series
		2007-BF (Class A3A)	5.160	04/06/12	Aaa		498,083
186,349	i	AQ Finance NIM Trust Series 2004-RN2	5.520	04/25/09	Aaa		186,237
74,669	i,v	AQ Finance NIM Trust Series 2004-RN3	5.500	05/26/09	Aaa		74,670
2,000,000		Capital One Auto Finance Trust Series 2007-B
		(Class A3A)	5.030	04/15/12	Aaa		1,988,892
2,261,760		Centex Home Equity Series 2002-A (Class AF6)	5.540	01/25/32	Aaa		2,249,639
705,000	i	Centex Home Equity Series 2004-C (Class AF5)	5.980	06/25/34	Aaa		689,935
2,924,927	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2002-2 (Class 1A5)	5.833	04/25/32	Aaa		2,868,707
1,000,000	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1B)	5.700	02/25/35	Baa2		849,116
1,000,000	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1M1)	5.700	02/25/35	Aa2		971,719
1,000,000		CIT Equipment Collateral Series 2005-VT1 (Class
		A4)	4.360	11/20/12	Aaa		992,177
523,697	i	CIT Group Home Equity Loan Trust Series 2002-2
		(Class BF)	6.830	06/25/33	Ba1		431,825
775,285	i	CIT Group Home Equity Loan Trust Series 2002-2
		(Class MF2)	6.390	12/25/30	A3		759,721
3,000,000	i	Citicorp Mortgage Securities, Inc Series 2006-1
		(Class A3)	5.706	07/25/36	Aaa		2,981,415
1,700,000	i	Citicorp Mortgage Securities, Inc Series 2006-2
		(Class A3)	5.563	09/25/36	Aaa		1,684,078
1,800,000		Countrywide Alternative Loan Trust Series 2005-
		42CB (Class A12)	5.500	10/25/35	Aa1		1,682,300
2,500,000	i	Countrywide Asset-Backed Certificates Series 2007-
		S2 (Class A3)	5.813	05/25/37	Aaa		2,468,503
211,164	i	Countrywide Home Equity Loan Trust Series 2004-
		B (Class 1A)	5.540	02/15/29	Aaa		211,273
287,447	i	Credit-Based Asset Servicing and Securitization
		LLC Series 2007-MX1 (Class A1)	6.159	12/25/36	Aaa		287,310
1,100,000	i	Credit-Based Asset Servicing and Securitization
		LLC Series 2007-MX1 (Class A2)	5.763	12/25/36	Aaa		1,094,386
177,168		Detroit Edison Securitization Funding LLC Series
		2001-1 (Class A3)	5.875	03/01/10	Aaa		177,484
3,000,000	i	Flagstar Home Equity Loan Trust Series 2007-1A
		(Class AF3)	5.781	01/25/35	Aaa		2,957,562
2,650,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A3	5.590	10/25/29	Aaa		2,637,871

375

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     2,650,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A4	5.810%	10/25/29	Aaa	$	2,611,904
783,523	i	Golden Securities Corp Series 2003-A (Class A1)	5.620	12/02/13	Aaa		783,132
4,500,000		Hertz Vehicle Financing LLC Series 2005-1A (Class
		A3)	5.010	02/25/11	Aaa		4,450,635
400,000		Hertz Vehicle Financing LLC Series 2005-1A (Class
		A5)	5.080	11/25/11	Aaa		394,444
886,463	i	HFC Home Equity Loan Asset Backed Certificates
		Series 2006-4 (Class A1F)	5.790	03/20/36	Aaa		884,519
1,825,709	i	HFC Home Equity Loan Asset Backed Certificates
		Series 2007-1 (Class A1F)	5.910	03/20/36	Aaa		1,824,151
4,000,000		Honda Auto Receivables Owner Trust Series 2007-1
		(Class A4)	5.090	07/18/13	NR		3,968,084
1,000,000		Household Automotive Trust Series 2006-2 (Class
		A3)	5.610	08/17/11	Aaa		1,003,026
3,000,000		Household Automotive Trust Series 2006-3 (Class
		A4)	5.340	09/17/13	Aaa		2,998,311
2,000,000	i	IXIS Real Estate Capital Trust Series 2006-HE1
		(Class A2)	5.460	03/25/36	Aaa		2,000,534
1,100,000		JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-CB18 (Class A4)	5.440	06/12/47	Aaa		1,062,984
340,009		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A1)	5.344	02/15/08	P-1		340,157
2,250,000		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A3)	5.190	02/15/11	Aaa		2,244,053
429,248		Long Beach Asset Holdings Corp Series 2006-4
		(Class N1)	5.877	06/25/46	NR		321,937
544,266	v	Long Beach Asset Holdings Corp Series 2006-6
		(Class N1)	6.072	09/25/46	NR		408,200
1,612,775		Marriott Vacation Club Owner Trust Series 2006-1A
		(Class A)	5.737	04/20/28	Aaa		1,614,851
1,572,400		Marriott Vacation Club Owner Trust Series 2006-2A
		(Class A)	5.362	10/20/28	Aaa		1,552,425
500,000	v	Marriott Vacation Club Owner Trust Series 2007-1A
		(Class A)	5.518	05/20/29	Aaa		500,879
1,200,000		Morgan Stanley Capital I Series 2005-HQ5 (Class
		A2)	4.809	01/14/42	NR		1,182,061
1,000,000	i	Morgan Stanley Capital I Series 2006-HE1 (Class
		A2)	5.440	01/25/36	Aaa		999,675
666,412	v	New York City Tax Lien Series 2006-AA (Class A)	5.930	07/01/36	Aaa		665,892
1,000,000		Peco Energy Transition Trust Series 1999-A (Class
		A7)	6.130	03/01/09	Aaa		1,003,975
305,445		Public Service New Hampshire Funding LLC Series
		2001-1 (Class A2)	5.730	11/01/10	Aaa		306,262
1,000,000	i	Renaissance Home Equity Loan Trust Series 2006-3
		(Class AF3)	5.586	11/25/36	Aaa		992,315
992,510	i	Residential Asset Mortgage Products, Inc Series
		2003-RZ5 (Class A7)	4.970	09/25/33	Aaa		970,692
5,000,000	d,i	Residential Asset Mortgage Products, Inc Series
		2004-RS11 (Class M1)	5.940	11/25/34	Aa1		5,018,425
582,289		Residential Asset Securities Corp Series 2001-KS2
		(Class AI6)	6.489	10/25/30	Aaa		581,309

376

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     7,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-H12 (Class A3)	5.790%	02/25/36	Aaa	$	6,977,936
500,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M1)	6.010	02/25/36	Aa1		487,391
1,500,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M2)	6.060	02/25/36	Aa2		1,463,001
1,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A3)	5.960	02/25/36	Aaa		999,081
3,528,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI4 (Class A3)	5.440	09/25/36	Aaa		3,480,795
250,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI5 (Class A2)	5.520	04/25/21	Aaa		248,615
3,000,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HSA2 (Class AI3)	5.550	03/25/36	Aaa		2,978,151
1,000,000	i	Saxon Asset Securities Trust Series 2002-2 (Class
		AF6)	6.120	11/25/30	Aaa		998,468
2,504,675	v	Sierra Receivables Funding Co Series 2006-1A
		(Class A1)	5.840	05/20/18	Aaa		2,510,689
5,962,032	v	Sonic Capital LLC Series 2006-1A (Class A2)	5.096	12/20/31	Aaa		5,823,927
2,500,000	v	Wachovia Amortization Controlled Heloc NIM
		Series 2006-N1 (Class N1)	5.683	08/12/47	A3		2,428,325
2,000,000		Wachovia Auto Loan Owner Trust Series 2006-2A
		(Class A3)	5.230	08/22/11	Aaa		1,996,806
443,065	i	Wachovia Loan Trust Series 2005-SD1 (Class A)	5.680	05/25/35	NR		442,836
		TOTAL ASSET BACKED					100,263,756
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.16%
650,000		Home Depot, Inc	5.400	03/01/16	Aa3		609,240
275,000		Lowe's Cos, Inc	8.250	06/01/10	A1		293,900
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					903,140
CHEMICALS AND ALLIED PRODUCTS - 0.38%
600,000		Abbott Laboratories	5.600	05/15/11	A1		602,464
500,000	g	Amgen, Inc	5.850	06/01/17	A2		491,841
500,000		Chemtura Corp	6.875	06/01/16	Ba2		472,500
550,000		Lubrizol Corp	4.625	10/01/09	Baa3		539,070
		TOTAL CHEMICALS AND ALLIED PRODUCTS					2,105,875
COMMUNICATIONS - 2.97%
600,000		Alamosa Delaware, Inc	11.000	07/31/10	Baa3		635,250
500,000		Alamosa Delaware, Inc	8.500	01/31/12	Baa3		524,375
275,000		America Movil S.A. de C.V.	6.375	03/01/35	A3		267,902
550,000		AT&T, Inc	5.100	09/15/14	A2		525,028
250,000		AT&T, Inc	5.625	06/15/16	A2		243,897
275,000		AT&T, Inc	6.150	09/15/34	A2		263,524
825,000		Comcast Cable Communications Holdings, Inc	8.375	03/15/13	Baa2		921,299
1,200,000		Comcast Corp	5.875	02/15/18	Baa2		1,163,488
275,000	e	Comcast Corp	5.650	06/15/35	Baa2		240,049
550,000		Comcast Corp	6.500	11/15/35	Baa2		534,202
275,000		Deutsche Telekom International Finance BV	8.250	06/15/30	A3		329,089
100,000		Embarq Corp	7.995	06/01/36	Baa3		101,094
275,000		France Telecom S.A.	7.750	03/01/11	A3		293,865
275,000		New Cingular Wireless Services, Inc	7.875	03/01/11	A3		295,647

377

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     275,000		New Cingular Wireless Services, Inc	8.750%	03/01/31	A3	$	343,437
550,000		Rogers Cable, Inc	6.750	03/15/15	Baa3		561,544
550,000		Rogers Wireless, Inc	7.500	03/15/15	Baa3		585,370
1,925,000		Sprint Capital Corp	8.375	03/15/12	Baa3		2,097,530
250,000		Telefonica Emisiones SAU	6.221	07/03/17	Baa1		250,007
500,000	g	Time Warner Cable, Inc	5.400	07/02/12	Baa2		490,812
1,000,000	g	Time Warner Cable, Inc	5.850	05/01/17	Baa2		972,158
750,000	g	Time Warner Cable, Inc	6.550	05/01/37	Baa2		723,911
275,000		Verizon Communications, Inc	5.850	09/15/35	A3		252,415
2,200,000		Verizon New Jersey, Inc	5.875	01/17/12	A3		2,190,955
275,000		Verizon Virginia, Inc	4.625	03/15/13	Baa1		254,295
250,000		Viacom, Inc	5.750	04/30/11	Baa3		249,648
350,000		Viacom, Inc	6.875	04/30/36	Baa3		338,378
350,000		Vodafone Group plc	5.625	02/27/17	Baa1		334,762
600,000		Vodafone Group plc	6.150	02/27/37	Baa1		559,307
		TOTAL COMMUNICATIONS					16,543,238
DEPOSITORY INSTITUTIONS - 3.96%
550,000	g	American Honda Finance Corp	5.125	12/15/10	Aa3		544,606
275,000	e	Bank of America Corp	6.250	04/15/12	Aa1		283,217
100,000		Bank of America Corp	4.875	09/15/12	Aa1		96,938
650,000		Bank of America NA	5.300	03/15/17	Aa1		619,558
1,050,000		Bank of America NA	6.000	10/15/36	Aa1		1,012,443
550,000		Bank One Corp	5.250	01/30/13	Aa3		536,987
250,000	i	BB&T Capital Trust IV	6.820	06/12/57	A1		249,437
550,000	g,i	BOI Capital Funding No. 2 LP	5.571	12/30/49	A1		521,501
275,000		Capital One Bank	5.125	02/15/14	A2		263,719
300,000		Citigroup, Inc	5.100	09/29/11	Aa1		295,166
1,050,000		Citigroup, Inc	5.250	02/27/12	Aa1		1,036,780
750,000	e	Citigroup, Inc	5.125	05/05/14	Aa1		724,524
550,000		Citigroup, Inc	5.850	12/11/34	Aa1		525,622
250,000	g,i	Credit Agricole S.A.	6.637	12/30/49	Aa3e		243,017
2,000,000	g	Depfa ACS Bank	5.125	03/16/37	Aaa		1,832,622
275,000		FIA Card Services NA	5.375	01/15/08	Aaa		274,937
250,000	i	Huntington Capital III	6.650	05/15/37	Baa1		239,176
250,000		Golden West Financial Corp	4.750	10/01/12	Aa3		240,662
250,000		Greenpoint Financial Corp	3.200	06/06/08	A3		244,714
275,000	i	ING Groep NV	5.775	12/30/49	A1		265,118
550,000	e	JPMorgan Chase & Co	7.875	06/15/10	Aa3		584,808
275,000	e	JPMorgan Chase & Co	4.500	01/15/12	Aa2		263,242
250,000		M&I Marshall & Ilsley Bank	4.125	09/04/07	Aa3		249,520
550,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3e		535,436
250,000	i	Manufacturers & Traders Trust Co	5.629	12/01/21	A2		239,392
1,100,000		Mellon Funding Corp	6.400	05/14/11	Aa3		1,130,960
250,000		Popular North America, Inc	5.650	04/15/09	A2		249,431
275,000	g,i	Rabobank Capital Funding Trust	5.254	12/30/49	Aa2		257,486
550,000		Regions Financial Corp	6.375	05/15/12	A2		564,879
250,000	g,ie	Societe Generale	5.922	12/30/49	A1		242,058
100,000		Union Bank of California NA	5.950	05/11/16	A1		99,444
550,000		US Bank NA	5.700	12/15/08	Aa2		551,807
825,000		Wachovia Bank NA	4.800	11/01/14	Aa2		775,726
350,000		Wachovia Bank NA	5.850	02/01/37	Aa2		329,532
75,000		Wachovia Corp	5.300	10/15/11	Aa3		74,234

378

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     825,000		Wachovia Corp	5.250%	08/01/14	A1	$	797,485
500,000		Wachovia Corp	5.750	06/15/17	Aa3e		494,361
100,000	e	Washington Mutual, Inc	5.500	08/24/11	A2		99,049
2,000,000	e	Wells Fargo & Co	5.300	08/26/11	Aa1		1,984,536
750,000		Wells Fargo Bank NA	6.450	02/01/11	Aa1		772,138
1,850,000		Wells Fargo Bank NA	4.750	02/09/15	Aa1		1,733,896
		TOTAL DEPOSITORY INSTITUTIONS					22,080,164
ELECTRIC, GAS, AND SANITARY SERVICES - 2.68%
550,000		Atmos Energy Corp	4.000	10/15/09	Baa3		531,379
190,000		Carolina Power & Light Co	5.125	09/15/13	A2		184,142
275,000	e	Carolina Power & Light Co	5.700	04/01/35	A2		256,081
550,000		CenterPoint Energy Resources Corp	7.875	04/01/13	Baa3		599,992
300,000		CenterPoint Energy Resources Corp	6.250	02/01/37	Baa3		288,927
550,000		Centerpoint Energy, Inc	5.950	02/01/17	Ba1		538,957
750,000		Commonwealth Edison Co	3.700	02/01/08	Baa2		741,276
825,000		Consolidated Natural Gas Co	6.250	11/01/11	Baa1		844,388
275,000		Consolidated Natural Gas Co	5.000	12/01/14	Baa1		261,391
525,000		Consumers Energy Co	4.400	08/15/09	Baa1		512,998
1,100,000		FirstEnergy Corp	6.450	11/15/11	Baa3		1,132,348
550,000	e	Florida Power & Light Co	4.850	02/01/13	Aa3		529,649
550,000		Florida Power Corp	4.500	06/01/10	A2		535,150
250,000	i	FPL Group Capital, Inc	6.350	10/01/66	A3		241,828
250,000		National Fuel Gas Co	5.250	03/01/13	Baa1		242,708
550,000		National Rural Utilities Cooperative Finance Corp	5.750	08/28/09	A2		553,020
250,000		Nevada Power Co	6.650	04/01/36	Ba1		250,829
1,250,000		Nevada Power Co	6.750	07/01/37	Ba1		1,268,919
450,000		Northern States Power Co	6.250	06/01/36	A2		458,637
500,000		Northern States Power-Minnesota	5.250	07/15/35	A2		442,790
50,000		ONEOK Partners LP	5.900	04/01/12	Baa2		50,285
1,100,000		Pacific Gas & Electric Co	4.200	03/01/11	Baa1		1,050,260
350,000		Pacific Gas & Electric Co	5.800	03/01/37	Baa1		326,723
275,000		Public Service Co of Colorado	5.500	04/01/14	A3		271,314
250,000	e	Puget Sound Energy, Inc	6.274	03/15/37	Baa2		244,917
275,000	e	Southern California Edison Co	5.350	07/15/35	A2		248,564
550,000		Texas Eastern Transmission LP	5.250	07/15/07	A3		549,905
600,000		Texas Eastern Transmission LP	7.300	12/01/10	A3		630,650
275,000		Virginia Electric and Power Co	4.750	03/01/13	Baa1		262,087
275,000		Waste Management, Inc	7.750	05/15/32	Baa3		303,369
550,000		Westar Energy, Inc	6.000	07/01/14	Baa2		552,162
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					14,905,645
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.14%
275,000		Cisco Systems, Inc	5.500	02/22/16	A1		268,511
500,000		Cooper Industries, Inc	5.250	07/01/07	NR		500,000
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					768,511
FOOD AND KINDRED PRODUCTS - 0.63%
328,000		Archer-Daniels-Midland Co	7.125	03/01/13	A2		349,341
275,000		Bottling Group LLC	4.625	11/15/12	Aa2		263,814
250,000		Bunge Ltd Finance Corp	5.875	05/15/13	Baa2		244,464
250,000		Bunge Ltd Finance Corp	5.100	07/15/15	Baa2		228,923

379

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     500,000		Companhia Brasileira de Bebidas	8.750%	09/15/13	Baa1	$	567,500
550,000		Coors Brewing Co	6.375	05/15/12	Baa2		566,526
500,000		Diageo Capital plc	5.125	01/30/12	A3		489,496
550,000		Kraft Foods, Inc	6.500	11/01/31	Baa1		532,509
275,000		WM Wrigley Jr Co	4.650	07/15/15	A1		254,892
		TOTAL FOOD AND KINDRED PRODUCTS					3,497,465
FOOD STORES - 0.20%
550,000	d,e	Kroger Co	6.800	04/01/11	Baa2		567,696
550,000		Safeway, Inc	4.125	11/01/08	Baa2		539,475
		TOTAL FOOD STORES					1,107,171
FURNITURE AND FIXTURES - 0.09%
500,000		Masco Corp	4.625	08/15/07	Baa1		499,388
		TOTAL FURNITURE AND FIXTURES					499,388
GENERAL BUILDING CONTRACTORS - 0.10%
500,000		DR Horton, Inc	9.750	09/15/10	Ba1		541,772
		TOTAL GENERAL BUILDING CONTRACTORS					541,772
GENERAL MERCHANDISE STORES - 0.45%
250,000		JC Penney Corp, Inc	5.750	02/15/18	Baa3		241,708
1,000,000		Target Corp	5.375	05/01/17	A1		958,964
550,000		Wal-Mart Stores, Inc	4.000	01/15/10	Aa2		532,033
825,000		Wal-Mart Stores, Inc	4.125	02/15/11	Aa2		791,323
		TOTAL GENERAL MERCHANDISE STORES					2,524,028
HEALTH SERVICES - 0.09%
500,000		Quest Diagnostics, Inc	6.400	07/01/17	Baa3		504,730
		TOTAL HEALTH SERVICES					504,730
HOLDING AND OTHER INVESTMENT OFFICES - 2.10%
275,000		Archstone-Smith Trust	5.750	03/15/16	Baa1		274,776
300,000		BHP Billiton Finance Ltd	5.400	03/29/17	A1		288,532
275,000		Colonial Properties Trust	6.250	06/15/14	Baa3		277,601
8,514,000		Housing Urban Development	4.790	08/01/11	NR		8,370,905
550,000	e	iStar Financial, Inc	5.150	03/01/12	Baa2		529,897
275,000	e	iStar Financial, Inc	5.700	03/01/14	Baa2		268,293
500,000	e	iStar Financial, Inc	5.850	03/15/17	Baa2		476,792
550,000		Simon Property Group LP	5.600	09/01/11	A3		549,776
600,000		Sungard Data Systems, Inc	10.250	08/15/15	Caa1		634,500
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					11,671,072
HOTELS AND OTHER LODGING PLACES - 0.05%
250,000		MGM Mirage	6.000	10/01/09	Ba2		247,812
		TOTAL HOTELS AND OTHER LODGING PLACES					247,812
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.47%
500,000	g	Atlas Copco AB	5.600	05/22/17	A3		487,212
550,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		534,486
500,000		Caterpillar, Inc	6.050	08/15/36	A2		491,404
250,000		Hewlett-Packard Co	5.250	03/01/12	A2		246,945
600,000	e	Hewlett-Packard Co	5.400	03/01/17	A2		579,341

380

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     275,000		John Deere Capital Corp	7.000%	03/15/12	A2	$	290,612
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					2,630,000
INSTRUMENTS AND RELATED PRODUCTS - 0.14%
275,000	e	Johnson & Johnson	3.800	05/15/13	Aaa		253,610
275,000		Medtronic, Inc	4.750	09/15/15	A1		254,798
275,000		Thermo Fisher Scientific, Inc	5.000	06/01/15	Baa2		253,765
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					762,173
INSURANCE CARRIERS - 1.14%
550,000	e	Aetna, Inc	6.625	06/15/36	A3		558,365
275,000		Allstate Corp	5.000	08/15/14	A1		263,678
550,000		American International Group, Inc	5.050	10/01/15	Aa2		526,661
600,000	i	Chubb Corp	6.375	03/29/37	A3		583,392
400,000		Chubb Corp	6.000	05/11/37	A2		382,490
275,000	g	Liberty Mutual Group, Inc	6.500	03/15/35	Baa2		250,169
250,000	i	Lincoln National Corp	6.050	04/20/67	Baa2		238,733
250,000	g	Mantis Reef Ltd	4.799	11/03/09	A3		245,172
550,000	e	Metlife, Inc	5.000	06/15/15	A2		522,577
275,000		Metlife, Inc	5.700	06/15/35	A2		254,192
500,000	g	Pricoa Global Funding I	3.900	12/15/08	Aa3		488,713
600,000	g	Principal Life Global Funding I	5.125	10/15/13	Aa2		587,274
300,000	g	Prudential Funding LLC	6.750	09/15/23	A1		311,684
650,000		UnitedHealth Group, Inc	5.250	03/15/11	A3		642,451
250,000		WellPoint, Inc	5.875	06/15/17	Baa1		247,288
275,000		WellPoint, Inc	5.850	01/15/36	Baa1		250,688
		TOTAL INSURANCE CARRIERS					6,353,527
METAL MINING - 0.14%
275,000		Barrick Gold Finance Co	4.875	11/15/14	Baa1		257,848
275,000	g	Corp Nacional del Cobre de Chile - CODELCO	4.750	10/15/14	Aa3		256,714
250,000		Vale Overseas Ltd	6.250	01/11/16	Baa3		248,523
		TOTAL METAL MINING					763,085
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.13%
250,000	g	Controladora Mabe S.A. C.V.	6.500	12/15/15	NR		250,625
500,000		Harsco Corp	5.125	09/15/13	A3		482,781
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES					733,406
MISCELLANEOUS RETAIL - 0.09%
500,000		CVS Caremark Corp	5.750	06/01/17	Baa2		482,380
		TOTAL MISCELLANEOUS RETAIL					482,380
MOTION PICTURES - 0.64%
275,000		Historic TW, Inc	6.625	05/15/29	Baa2		267,180
1,000,000		News America Holdings, Inc	8.250	08/10/18	Baa2		1,151,366
250,000		News America, Inc	7.625	11/30/28	Baa2		270,632
500,000	g	News America, Inc	6.150	03/01/37	Baa2		460,666
1,375,000		Time Warner, Inc	6.875	05/01/12	Baa2		1,434,694
		TOTAL MOTION PICTURES					3,584,538
NONDEPOSITORY INSTITUTIONS - 3.82%
4,300,000	g	BA Covered Bond Issuer	5.500	06/14/12	Aaa		4,314,569

381

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     350,000		Boeing Capital Corp Ltd	6.100%	03/01/11	A2	$	357,918
550,000		Capital One Financial Corp	5.700	09/15/11	A3		547,540
550,000		Capital One Financial Corp	5.500	06/01/15	A3		528,471
350,000		CIT Group Funding Co of Canada	5.200	06/01/15	A2		325,639
500,000		CIT Group, Inc	5.400	02/13/12	A2		489,816
600,000		CIT Group, Inc	5.850	09/15/16	A2		578,430
500,000		Ford Motor Credit Co	5.700	01/15/10	B1		477,675
600,000		Ford Motor Credit Co	9.875	08/10/11	B1		629,780
1,000,000		Ford Motor Credit Co	7.800	06/01/12	B1		975,527
3,000,000		General Electric Capital Corp	5.500	06/04/14	Aaa		2,965,383
1,000,000		General Motors Acceptance Corp LLC	6.625	05/15/12	Ba1		965,681
275,000	g,i	HSBC Capital Funding LP	4.610	12/30/49	A1		257,731
650,000		HSBC Finance Corp	5.250	01/14/11	Aa3		642,189
1,500,000		HSBC Finance Corp	5.900	06/19/12	Aa3		1,508,359
550,000	e	HSBC Finance Corp	5.250	04/15/15	Aa3		523,575
1,375,000		HSBC Finance Corp	5.500	01/19/16	Aa3		1,323,218
500,000		International Lease Finance Corp	5.450	03/24/11	A1		496,652
500,000		International Lease Finance Corp	5.650	06/01/14	A1		494,258
275,000		MBNA Corp	6.125	03/01/13	Aa1		279,628
550,000		Residential Capital LLC	6.125	11/21/08	Baa3		545,610
250,000		Residential Capital LLC	6.500	06/01/12	Baa3		243,548
1,100,000		Residential Capital LLC	6.500	04/17/13	Baa3		1,062,348
500,000	e	SLM Corp	5.400	10/25/11	A2		458,741
275,000	e	Toyota Motor Credit Corp	2.875	08/01/08	Aaa		267,640
		TOTAL NONDEPOSITORY INSTITUTIONS					21,259,926
OIL AND GAS EXTRACTION - 1.45%
600,000		Apache Corp	6.000	01/15/37	A3		572,334
250,000		Baker Hughes, Inc	6.875	01/15/29	A2		269,985
300,000		BJ Services Co	5.750	06/01/11	Baa1		299,166
1,100,000		Chesapeake Energy Corp	6.500	08/15/17	Ba2		1,042,250
825,000		Devon OEI Operating, Inc	4.375	10/01/07	Baa3		822,589
250,000	g	Empresa Nacional de Petroleo ENAP	6.750	11/15/12	A2		260,436
250,000		Equitable Resources, Inc	5.150	11/15/12	A2		242,027
200,000	g	Lukoil International Finance BV	6.356	06/07/17	Baa2		194,000
275,000		Nexen, Inc	5.050	11/20/13	Baa2		262,264
1,000,000		Nexen, Inc	5.650	05/15/17	Baa2		961,818
275,000		PC Financial Partnership	5.000	11/15/14	Baa2		258,312
550,000		Petro-Canada	5.950	05/15/35	Baa2		507,444
500,000	g	TNK-BP Finance S.A.	6.625	03/20/17	Baa2		484,400
750,000	g	Weatherford International, Inc	5.950	06/15/12	Baa1		756,734
500,000	g	Weatherford International, Inc	6.800	06/15/37	Baa1		509,850
600,000		XTO Energy, Inc	6.250	04/15/13	Baa2		610,678
		TOTAL OIL AND GAS EXTRACTION					8,054,287
OTHER MORTGAGE BACKED SECURITIES - 7.15%
3,000,000	d	Banc of America Commercial Mortgage, Inc Series
		2002-2 (Class A3)	5.118	07/11/43	NR		2,938,713
1,000,000	i	Banc of America Commercial Mortgage, Inc Series
		2005-1 (Class B)	5.143	11/10/42	NR		960,121
225,000	i	Banc of America Commercial Mortgage, Inc Series
		2005-6 (Class AJ)	5.353	09/10/47	Aaa		215,593

382

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     80,000		Banc of America Commercial Mortgage, Inc Series
		2006-4 (Class A4)	5.634%	07/10/46	Aaa	$	78,546
550,000		Banc of America Commercial Mortgage, Inc Series
		2006-5 (Class A4)	5.414	09/10/47	Aaa		532,611
953,182		Banc of America Mortgage Securities Series 2006-1
		(Class A8)	6.000	05/01/36	Aaa		953,759
211,515		Bank of America Alternative Loan Trust Series 2004-
		8 (Class 3A1)	5.500	09/25/19	Aaa		210,125
700,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2005-PW10 (Class AJ)	5.615	12/11/40	Aaa		682,959
500,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-PW11 (Class A4)	5.625	03/11/39	NR		489,895
200,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-PW12 (Class A4)	5.895	09/11/38	Aaa		199,103
1,175,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-PW13 (Class A4)	5.540	09/11/41	NR		1,148,975
700,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-PW14 (Class A4)	5.201	12/11/38	NR		666,381
1,450,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-T22 (Class A4)	5.633	04/12/38	Aaa		1,427,181
600,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-T24 (Class A4)	5.537	10/12/41	Aaa		586,811
1,300,000		Citicorp Mortgage Securities, Inc Series 2005-4
		(Class 1A7)	5.500	07/25/35	Aa1		1,222,658
1,100,000		Citigroup/Deutsche Bank Commercial Mortgage
		Trust Series 2006-CD3 (Class A5)	5.617	10/15/48	Aaa		1,080,338
1,668,335		Citimortgage Alternative Loan Trust Series 2006-A1
		(Class 2A1)	5.250	03/25/21	Aaa		1,619,850
815,552		Countrywide Home Loan Mortgage Pass Through
		Trust Series 2005-17 (Class 1A10)	5.250	09/25/35	AGY		805,884
50,000	i	Credit Suisse Mortgage Capital Certificates Series
		2006-C2 (Class A3)	5.847	03/15/39	Aaa		49,532
750,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C4 (Class A3)	5.467	09/15/39	Aaa		727,696
1,250,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C5 (Class A3)	5.311	12/15/39	Aaa		1,198,371
2,000,000	i	Credit Suisse/Morgan Stanley Commercial
		Mortgage Certificate Series HC1A (Class A1)	5.510	05/15/23	Aaa		2,001,554
1,000,000		GE Capital Commercial Mortgage Corp Series 2003-
		C2 (Class A4)	5.145	07/10/37	Aaa		971,674
500,000		GS Mortgage Securities Corp II Series 2006-GG8
		(Class A4)	5.560	11/10/39	Aaa		489,083
1,000,000		JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2003-CB6 (Class A2)	5.255	07/12/37	Aaa		976,742
1,000,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-LD11 (Class AJ)	6.007	06/15/49	Aaa		986,201
700,000		LB-UBS Commercial Mortgage Trust Series 2005-
		C3 (Class A2)	4.553	07/15/30	Aaa		683,931
1,000,000	i	LB-UBS Commercial Mortgage Trust Series 2005-
		C5 (Class AJ)	5.057	09/15/40	NR		946,524
100,000	i	LB-UBS Commercial Mortgage Trust Series 2006-
		C4 (Class A4)	6.097	06/15/38	Aaa		100,729

383

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     228,897		MASTR Asset Securitization Trust Series 2005-2
		(Class 3A1)	5.000%	10/25/20	Aaa	$	224,545
1,000,000	i	Merrill Lynch Mortgage Trust Series 2003-KEY1
		(Class A4)	5.236	11/12/35	NR		972,915
1,000,000	i	Merrill Lynch Mortgage Trust Series 2004-BPC1
		(Class AJ)	4.922	10/12/41	NR		945,319
425,000	i	Merrill Lynch Mortgage Trust Series 2005-LC1
		(Class A4)	5.291	01/12/44	Aaa		409,951
275,000	i	Merrill Lynch Mortgage Trust Series 2006-C1
		(Class A4)	5.843	05/12/39	NR		273,040
250,000	i	Merrill Lynch/Countrywide Commercial Mortgage
		Trust Series 2006-1 (Class A4)	5.608	02/12/39	NR		244,311
550,000	i	Morgan Stanley Capital I Series 2006-HQ8 (Class
		AJ)	5.641	03/12/44	Aaa		537,650
100,000	i	Morgan Stanley Capital I Series 2006-HQ9 (Class
		A4)	5.731	07/12/44	NR		99,056
250,000	i	Morgan Stanley Capital I Series 2006-IQ11 (Class
		AJ)	5.949	10/15/42	NR		247,020
100,000	i	Morgan Stanley Capital I Series 2006-T23 (Class
		A4)	5.983	08/12/41	NR		100,395
940,000		Residential Accredit Loans, Inc Series 2005-QS6
		(Class A7)	5.750	05/25/35	Aa1		902,701
1,000,000	i	Wachovia Bank Commercial Mortgage Trust Series
		2005-C20 (Class A7)	5.118	07/15/42	Aaa		955,908
4,456,768		Washington Mutual, Inc Series 2003-S10 (Class A1)	4.500	10/25/18	NR		4,283,708
2,718,522		Wells Fargo Mortgage Backed Securities Trust
		Series 2004-7 (Class 1A1)	4.500	07/25/19	NR		2,558,809
2,163,510		Wells Fargo Mortgage Backed Securities Trust
		Series 2005-1 (Class 2A1)	5.000	01/25/20	Aaa		2,117,029
		TOTAL OTHER MORTGAGE BACKED SECURITIES					39,823,897
PAPER AND ALLIED PRODUCTS - 0.55%
500,000	e	Bemis Co, Inc	4.875	04/01/12	Baa1		481,418
600,000		Cenveo Corp	7.875	12/01/13	B3		588,000
2,000,000		Kimberly-Clark Corp	7.100	08/01/07	Aa3		2,002,326
		TOTAL PAPER AND ALLIED PRODUCTS					3,071,744
PETROLEUM AND COAL PRODUCTS - 0.34%
1,100,000		Conoco Funding Co	6.350	10/15/11	A1		1,135,231
500,000	i	Enterprise Products Operating LP	8.375	08/01/66	Ba1		533,627
250,000		Valero Energy Corp	6.625	06/15/37	Baa3		249,581
		TOTAL PETROLEUM AND COAL PRODUCTS					1,918,439
PIPELINES, EXCEPT NATURAL GAS - 0.57%
250,000		Enbridge Energy Partners LP	4.000	01/15/09	Baa2		244,419
275,000		Enterprise Products Operating LP	4.000	10/15/07	Baa3		273,861
550,000		Enterprise Products Operating LP	4.950	06/01/10	Baa3		540,719
275,000		Enterprise Products Operating LP	5.600	10/15/14	Baa3		268,071
550,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		543,721
550,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		540,326
275,000		TransCanada Pipelines Ltd	4.000	06/15/13	A2		250,486
300,000		TransCanada Pipelines Ltd	5.850	03/15/36	A2		284,151

384

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     250,000	i	TransCanada Pipelines Ltd	6.350%	05/15/67	A3	$	238,849
		TOTAL PIPELINES, EXCEPT NATURAL GAS					3,184,603
PRINTING AND PUBLISHING - 0.22%
600,000		Idearc, Inc	8.000	11/15/16	B2		606,000
732,000		Morris Publishing Group LLC	7.000	08/01/13	B1		640,500
		TOTAL PRINTING AND PUBLISHING					1,246,500
RAILROAD TRANSPORTATION - 0.49%
275,000		Burlington Northern Santa Fe Corp	6.750	07/15/11	Baa1		284,990
350,000		Burlington Northern Santa Fe Corp	5.650	05/01/17	Baa1		340,175
250,000		Burlington Northern Santa Fe Corp	6.150	05/01/37	Baa1		241,446
550,000		Canadian National Railway Co	4.400	03/15/13	A3		513,498
300,000		Canadian National Railway Co	6.200	06/01/36	A3		294,939
250,000	e	CSX Corp	6.000	10/01/36	Baa3		231,940
300,000		Norfolk Southern Corp	5.590	05/17/25	Baa1		272,321
550,000	e	Union Pacific Corp	6.500	04/15/12	Baa2		565,888
		TOTAL RAILROAD TRANSPORTATION					2,745,197
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.05%
275,000	g	Sealed Air Corp	5.375	04/15/08	Baa3		273,501
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS					273,501
SECURITY AND COMMODITY BROKERS - 1.77%
275,000		Bear Stearns Cos, Inc	5.700	11/15/14	A1		268,356
550,000		Burlington Resources Finance Co	6.400	08/15/11	A2		567,749
275,000		Burlington Resources Finance Co	7.200	08/15/31	A2		309,257
600,000		Credit Suisse USA, Inc	5.500	08/16/11	Aa1		598,674
500,000		Franklin Resources, Inc	3.700	04/15/08	A1		493,608
500,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		487,973
275,000		Goldman Sachs Group, Inc	5.000	01/15/11	Aa3		269,687
600,000		Goldman Sachs Group, Inc	5.300	02/14/12	Aa3		590,361
275,000		Goldman Sachs Group, Inc	5.500	11/15/14	Aa3		268,470
100,000		Goldman Sachs Group, Inc	5.625	01/15/17	A1		95,760
600,000	e	Goldman Sachs Group, Inc	5.950	01/15/27	A1		567,076
500,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3e		489,779
600,000	e	Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		589,198
250,000	i	Lehman Brothers Holdings, Inc	6.000	05/03/32	A2		234,105
275,000	e	Merrill Lynch & Co, Inc	5.000	02/03/14	Aa3		262,926
500,000		Merrill Lynch & Co, Inc	5.700	05/02/17	A1		481,371
350,000		Merrill Lynch & Co, Inc	6.110	01/29/37	A1		328,776
1,375,000		Morgan Stanley	3.625	04/01/08	Aa3		1,356,204
900,000		Morgan Stanley	5.750	10/18/16	Aa3		874,046
500,000		Morgan Stanley	5.550	04/27/17	Aa3e		476,995
250,000		Morgan Stanley	6.250	08/09/26	Aa3		247,854
		TOTAL SECURITY AND COMMODITY BROKERS					9,858,225
TRANSPORTATION BY AIR - 0.10%
550,000		FedEx Corp	5.500	08/15/09	Baa2		549,166
		TOTAL TRANSPORTATION BY AIR					549,166
TRANSPORTATION EQUIPMENT - 0.76%
250,000		DaimlerChrysler NA Holding Corp	5.875	03/15/11	Baa1		251,263

385

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     250,000		DaimlerChrysler NA Holding Corp	5.750%	09/08/11	Baa1	$	250,263
275,000		DaimlerChrysler NA Holding Corp	6.500	11/15/13	Baa1		283,920
275,000		General Dynamics Corp	3.000	05/15/08	A2		269,473
700,000		Honeywell International, Inc	5.700	03/15/37	A2		644,931
550,000		Lockheed Martin Corp	6.150	09/01/36	Baa1		548,660
275,000	e	Northrop Grumman Corp	7.750	02/15/31	Baa1		326,801
1,100,000		United Technologies Corp	6.350	03/01/11	A2		1,133,182
550,000	e	United Technologies Corp	6.050	06/01/36	A2		545,709
		TOTAL TRANSPORTATION EQUIPMENT					4,254,202
WHOLESALE TRADE-DURABLE GOODS - 0.11%
500,000		Vale Overseas Ltd	6.250	01/23/17	Baa3		496,750
100,000		Vale Overseas Ltd	6.875	11/21/36	Baa3		100,338
		TOTAL WHOLESALE TRADE-DURABLE GOODS					597,088
WHOLESALE TRADE-NONDURABLE GOODS - 0.24%
825,000		Procter & Gamble Co	4.950	08/15/14	Aa3		794,716
600,000		Procter & Gamble Co	5.550	03/05/37	Aa3		565,673
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					1,360,389
		TOTAL CORPORATE BONDS					292,022,802
		(Cost $296,901,826)
GOVERNMENT BONDS - 45.90%
AGENCY SECURITIES - 2.64%
1,918,039		Cal Dive I- Title XI, Inc	4.930	02/01/27	NR		1,791,909
500,000		Egypt Government AID Bonds	4.450	09/15/15	Aaa		473,880
500,000		Federal Farm Credit Bank (FFCB)	5.375	07/18/11	Aaa		502,079
2,000,000		Federal Home Loan Mortgage Corp (FHLMC)	5.125	10/24/07	Aaa		1,998,244
2,000,000		Federal Home Loan Mortgage Corp (FHLMC)	3.500	05/21/08	Aaa		1,968,718
200,000		Federal Home Loan Mortgage Corp (FHLMC)	5.750	06/27/16	Aa2		201,804
1,200,000		Federal Home Loan Mortgage Corp (FHLMC)	5.125	10/18/16	Aaa		1,170,846
3,600,000		Federal National Mortgage Association (FNMA)	5.000	09/15/08	Aaa		3,591,237
2,000,000		Federal National Mortgage Association (FNMA)	5.375	06/12/17	Aaa		1,983,868
1,000,000		Private Export Funding Corp	7.200	01/15/10	Aaa		1,046,437
		TOTAL AGENCY SECURITIES					14,729,022
FOREIGN GOVERNMENT BONDS - 3.46%
500,000		African Development Bank	3.250	08/01/08	Aaa		490,125
275,000		Chile Government International Bond	5.500	01/15/13	A2		272,276
500,000	e	China Development Bank	5.000	10/15/15	A2		477,708
250,000		Development Bank of Japan	4.250	06/09/15	Aaa		230,578
350,000		Eksportfinans A/S	5.000	02/14/12	Aaa		346,503
275,000		European Investment Bank	4.875	02/15/36	Aaa		246,608
500,000	g	Federal Republic of Germany	3.875	06/01/10	Aaa		484,288
5,000,000	g	Hypothekenbank in Essen AG.	5.000	01/20/12	Aaa		4,934,090
500,000		International Finance Corp	5.125	05/02/11	Aaa		498,094
750,000		Israel Government International Bond	5.500	11/09/16	A2		731,201
225,000		Italy Government International Bond	5.375	06/12/17	NR		222,597
1,100,000		Italy Government International Bond	6.875	09/27/23	Aa2		1,223,110
275,000	e	Korea Development Bank	5.750	09/10/13	Aa3		275,700
275,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		275,692

386

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY	MOODY'S
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     300,000		Kreditanstalt fuer Wiederaufbau	4.875%	01/17/17	Aaa	$	287,489
500,000		Landwirtschaftliche Rentenbank	5.250	07/02/12	Aaa		498,362
550,000		Landwirtschaftliche Rentenbank	5.125	02/01/17	Aaa		537,947
173,000		Mexico Government International Bond	6.375	01/16/13	Baa1		179,297
979,000		Mexico Government International Bond	5.875	01/15/14	Baa1		988,183
600,000	d	Mexico Government International Bond	6.750	09/27/34	Baa1		640,752
50,000		Oesterreichische Kontrollbank AG.	5.000	04/25/17	Aaa		48,301
500,000	e	Province of Manitoba Canada	4.450	04/12/10	Aa1		489,826
600,000		Province of Manitoba Canada	5.000	02/15/12	Aa1		593,359
550,000		Province of Ontario	4.750	01/19/16	Aa1		526,465
1,500,000		Province of Quebec Canada	5.750	02/15/09	Aa2		1,512,305
300,000	e	Province of Quebec Canada	5.125	11/14/16	Aa2		291,816
550,000		Province of Saskatchewan Canada	8.000	02/01/13	Aa1		618,651
1,100,000		Svensk Exportkredit AB	5.125	03/01/17	Aa1		1,064,457
250,000	e	Turkey Government International Bond	7.375	02/05/25	Ba3		255,938
		TOTAL FOREIGN GOVERNMENT BONDS					19,241,718
MORTGAGE BACKED SECURITIES - 33.97%
500,000		Federal Home Loan Mortgage Corp (FHLMC)	4.260	07/19/07			499,717
2,118,220		FHLMC	6.000	09/15/16			2,131,364
1,500,000		FHLMC	4.000	09/15/19			1,346,262
2,000,000		FHLMC	5.000	06/15/29			1,951,774
419,650		FHLMC	6.000	12/15/30			421,550
3,000,000		FHLMC	5.000	06/15/31			2,891,073
1,500,000		FHLMC	5.500	05/15/33			1,453,709
887,010		FHLMC	4.500	09/15/35			839,191
1,292,924	i	FHLMC	5.091	02/01/36			1,280,115
1,012,590	i	FHLMC	5.009	09/01/36			1,006,670
1,657,032	i	FHLMC	6.146	09/01/36			1,670,571
1,026,875	i	FHLMC	5.717	02/01/37			1,022,945
3,319,730	i	FHLMC	5.803	03/01/37			3,325,587
1,870,056	i	FHLMC	5.650	03/01/37			1,879,524
249,719	i	FHLMC	5.893	04/01/37			252,459
1,000,000	h	FHLMC	6.000	08/15/37			989,688
50,790		Federal Home Loan Mortgage Corp Gold (FGLMC)	7.000	09/01/10			51,890
135,142		FGLMC	6.500	12/01/16			138,054
1,288,899		FGLMC	5.500	01/01/19			1,273,778
2,158,771		FGLMC	4.500	07/01/20			2,049,846
816,910		FGLMC	4.500	09/01/20			775,691
95,139		FGLMC	7.000	10/01/20			98,730
780,101		FGLMC	5.000	10/01/20			754,489
1,564,716	d	FGLMC	5.500	10/01/20			1,542,342
649,117		FGLMC	4.500	06/01/21			616,365
1,655,622		FGLMC	5.500	08/01/21			1,631,059
288,492		FGLMC	6.500	01/01/29			294,720
25,508		FGLMC	8.000	01/01/31			26,886
4,191,130		FGLMC	5.500	12/01/33			4,061,528
2,364,226		FGLMC	5.000	01/01/34			2,227,721
1,072,461		FGLMC	4.500	10/01/34			978,300
793,504		FGLMC	5.500	12/01/34			768,217
1,826,682		FGLMC	5.500	03/01/35			1,765,911
2,469,003		FGLMC	6.000	05/01/35			2,450,652
1,268,615		FGLMC	5.500	06/01/35			1,226,410

387

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
$     2,592,633	FGLMC	5.500%	06/01/35	$	2,506,379
428,434	FGLMC	5.000	10/01/35		402,648
869,954	FGLMC	5.000	11/01/35		817,594
1,044,164	FGLMC	7.000	01/01/36		1,074,416
918,862	FGLMC	5.500	04/01/36		886,674
179,053	FGLMC	6.500	05/01/36		180,979
908,506	FGLMC	6.500	10/01/36		918,275
423,512	FGLMC	6.500	12/01/36		426,319
991,434	FGLMC	5.500	01/01/37		956,704
1,986,752	FGLMC	5.500	04/01/37		1,916,203
2,778,332	FGLMC	5.500	05/01/37		2,679,674
850,109	Federal National Mortgage Association (FNMA)	6.366	12/01/08		848,273
72,117	FNMA	5.000	06/01/13		70,865
2,918,435	FNMA	4.732	02/01/14		2,801,683
2,890,259	FNMA	4.640	11/01/14		2,751,527
437,644	FNMA	4.558	01/01/15		414,248
1,520,365	FNMA	6.000	06/25/16		1,520,481
323,940	FNMA	6.500	10/01/16		331,044
108,773	FNMA	6.500	11/01/16		111,159
201,482	FNMA	6.500	02/01/18		205,580
456,479	FNMA	5.500	04/01/18		451,314
156,587	FNMA	5.500	05/01/18		154,815
219,352	FNMA	6.000	01/01/19		220,422
1,000,000	FNMA	4.000	02/25/19		887,960
1,535,893	FNMA	4.500	04/01/19		1,461,283
43,327	FNMA	8.000	03/01/23		45,672
793,054	FNMA	5.500	02/01/24		775,387
1,851,378	FNMA	5.500	07/01/24		1,808,919
4,238,571	FNMA	5.000	10/01/25		4,036,993
25,580	FNMA	9.000	11/01/25		27,746
25,898	FNMA	7.500	01/01/29		27,116
533,561	FNMA	7.000	07/01/32		552,679
205,484	FNMA	5.000	02/01/33		193,559
931,517	FNMA	4.500	03/25/33		888,073
1,270,091	FNMA	5.500	06/01/33		1,230,581
529,001	FNMA	5.000	07/01/33		498,301
3,384,276	FNMA	5.500	07/01/33		3,278,999
1,396,161	FNMA	4.500	08/01/33		1,273,649
985,915	FNMA	5.000	08/01/33		928,698
1,500,000	FNMA	5.500	08/25/33		1,472,208
1,446,034	FNMA	4.500	10/01/33		1,319,145
643,800	FNMA	5.000	10/01/33		606,437
617,529	FNMA	5.000	10/01/33		581,691
1,215,351	FNMA	5.000	11/01/33		1,144,818
1,263,722	FNMA	5.000	11/01/33		1,190,382
5,178,088	FNMA	5.000	11/01/33		4,877,578
522,211	FNMA	5.500	12/01/33		505,967
488,658	FNMA	5.500	12/01/33		473,457
945,720	FNMA	5.500	12/01/33		916,301
636,966	FNMA	5.500	01/01/34		617,152
254,225	FNMA	5.000	03/01/34		239,471
2,559,906	FNMA	5.000	03/01/34		2,411,342
311,849	FNMA	5.000	03/01/34		293,751

388

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$     311,142		FNMA	5.000%	03/01/34	$	293,085
1,267,200		FNMA	5.000	03/01/34		1,193,659
2,013,635		FNMA	5.000	04/01/34		1,894,694
5,985,484		FNMA	5.000	08/01/34		5,631,934
600,000		FNMA	5.500	10/25/34		579,916
758,799		FNMA	5.500	01/01/35		734,658
1,736,357		FNMA	5.500	02/01/35		1,682,343
2,529,209		FNMA	5.000	02/25/35		2,456,543
1,981,190		FNMA	5.500	04/01/35		1,918,159
3,757,642		FNMA	5.500	05/01/35		3,633,385
4,735,397		FNMA	5.500	05/01/35		4,578,807
2,922,806		FNMA	6.000	05/01/35		2,896,560
140,198		FNMA	7.500	06/01/35		145,043
675,440		FNMA	6.000	07/01/35		669,375
4,762,076		FNMA	6.000	08/01/35		4,719,313
1,319,773		FNMA	5.500	09/01/35		1,278,718
3,449,706		FNMA	5.000	10/01/35		3,241,154
269,134		FNMA	5.000	10/01/35		252,864
1,267,300		FNMA	5.500	12/01/35		1,225,393
93,573		FNMA	7.000	01/01/36		95,566
1,760,020		FNMA	6.000	03/01/36		1,742,171
3,012,636	d	FNMA	6.000	04/01/36		2,982,083
824,950		FNMA	6.500	04/01/36		832,974
2,296,075	i	FNMA	5.949	07/01/36		2,307,968
6,318,205	i	FNMA	5.743	09/01/36		6,318,054
948,825		FNMA	6.000	10/01/36		939,202
1,140,593		FNMA	6.500	12/01/36		1,147,083
551,193		FNMA	7.000	02/01/37		565,961
99,751		FNMA	7.000	04/01/37		102,424
2,000,000		FNMA	6.000	06/01/37		1,979,375
5,000,000	h	FNMA	6.000	08/25/37		4,942,190
17,000,000	h	FNMA	6.500	08/25/37		17,143,446
25,293		Government National Mortgage Association
		(GNMA)	6.500	09/15/23		25,792
57,543		GNMA	7.500	11/15/23		60,223
6,360		GNMA	7.500	08/15/28		6,665
84,276		GNMA	6.500	12/15/28		86,097
158,079		GNMA	6.500	03/15/29		161,504
50,868		GNMA	8.500	10/20/30		54,493
18,819		GNMA	7.000	06/20/31		19,561
325,472		GNMA	5.000	02/15/33		308,576
2,376,738		GNMA	5.000	09/15/33		2,253,353
494,208		GNMA	5.500	11/20/33		479,854
2,090,258		GNMA	5.500	02/20/35		2,027,714
726,751		GNMA	5.500	03/20/35		705,005
		TOTAL MORTGAGE BACKED SECURITIES				189,220,316
U.S. TREASURY SECURITIES - 5.83%
11,198,000		United States Treasury Bond	8.000	11/15/21		14,333,664
7,600,000	d	United States Treasury Bond	5.250	02/15/29		7,660,192
330,000		United States Treasury Bond	5.375	02/15/31		339,280
534,000		United States Treasury Bond	4.500	02/15/36		483,975
2,202,000		United States Treasury Bond	4.750	02/15/37		2,077,455

389

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$     450,000		United States Treasury Note	4.625%	02/29/12	$	444,357
626,000		United States Treasury Note	4.750	05/31/12		621,142
750,000		United States Treasury Note	4.875	06/30/12		747,949
5,300,000		United States Treasury Note	4.500	05/15/17		5,083,018
2,000,000	j	United States Treasury Strip Principal	0.000	08/15/27		706,180
		TOTAL U.S. TREASURY SECURITIES				32,497,212
		TOTAL GOVERNMENT BONDS				255,688,268
		(Cost $261,071,015)
		TOTAL BONDS				547,711,070
		(Cost $557,972,841)
SHARES		COMPANY
PREFERRED STOCKS - 0.06%
DEPOSITORY INSTITUTIONS - 0.06%
14,000	e	Bank of America Corp				360,640
		TOTAL DEPOSITORY INSTITUTIONS				360,640
		TOTAL PREFERRED STOCKS				360,640
		(Cost $350,000)
TIAA-CREF MUTUAL FUNDS - 0.71%
395,149		TIAA-CREF Institutional High-Yield Fund II				3,951,492
		TOTAL TIAA-CREF MUTUAL FUNDS				3,951,492
		(Cost $4,048,136)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 6.31%
COMMERCIAL PAPER - 2.86%
$      5,000,000	d	CC (USA), Inc	0.000	08/30/07		4,956,561
5,000,000		Rabobank USA Financial Corp	0.000	07/02/07		5,000,000
1,150,000	d	Scaldis Capital LLC	0.000	07/16/07		1,147,589
3,610,000		UBS Finance, (Delaware), Inc	0.000	07/02/07		3,610,000
1,235,000		Yorktown Capital LLC	0.000	07/31/07		1,229,686
						15,943,836
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.56%
8,709,325		State Street Navigator Securities Lending Prime Portfolio				8,709,325
						8,709,325
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.89%
$      10,540,000		Federal National Mortgage Association (FNMA)	0.000	07/25/07		10,505,661
						10,505,661
		TOTAL SHORT-TERM INVESTMENTS				35,158,822
		(Cost $35,155,092)

390

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				VALUE
		TOTAL PORTFOLIO - 105.41%		587,182,024
		(Cost $597,526,069)
		OTHER ASSETS & LIABILITIES, NET - (5.41)%	$	(30,158,191	)
		NET ASSETS - 100.00%	$	557,023,833
		ABBREVIATION:
		NR - Not Rated
	+	As provided by Moody's Investors Service (unaudited).
	d	All or a portion of these securities have been segregated by the custodian to cover securities purchased
		on a delayed delivery basis.
	e	All or a portion of these securities are out on loan.
	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, 2007, the value of these securities amounted to $22,127,840 or 3.97% of net assets.
	h	These securities were purchased on a delayed delivery basis.
	i	Floating rate or variable rate securities reflects the rate at June 30, 2007.
	j	Zero coupon.
	v	Security valued at fair value.

391

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SHORT-TERM BOND FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
CORPORATE BONDS - 43.39%
AMUSEMENT AND RECREATION SERVICES - 0.14%
$     350,000	e	Walt Disney Co	5.700%	07/15/11	A2	$	352,762
		TOTAL AMUSEMENT AND RECREATION SERVICES					352,762
ASSET BACKED - 13.30%
1,000,000		AmeriCredit Automobile Receivables Trust
		Series 2006-AF (Class A4)	5.640	09/06/13	Aaa		1,004,616
55,677		Asset Backed Funding Corp NIM Trust Series
		2005-WMC1 (Class N1)	5.900	07/26/35	NA		55,265
1,000,000		Capital One Auto Finance Trust Series 2007-A
		(Class A3A)	5.250	08/15/11	Aaa		998,272
301,568		Centex Home Equity Series 2002-A (Class AF6)	5.540	01/25/32	Aaa		299,952
1,500,000	i	Centex Home Equity Series 2004-D (Class MF2)
			5.560	09/25/34	A2		1,424,773
500,000	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1B)	5.700	02/25/35	Baa2		424,558
500,000	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1M2)	5.700	02/25/35	A2		474,715
341,423		Chase Manhattan Auto Owner Trust Series 2004-
		A (Class A4)	2.830	09/15/10	Aaa		336,960
1,320,000		CIT Equipment Collateral Series 2005-VT1
		(Class A4)	4.360	11/20/12	Aaa		1,309,674
775,285	i	CIT Group Home Equity Loan Trust Series 2002-
		2 (Class MF2)	6.390	12/25/30	A3		759,721
5,500,000	i	Citicorp Mortgage Securities, Inc Series 2006-1
		(Class A3)	5.706	07/25/36	Aaa		5,465,928
996,409	i	Countrywide Asset-Backed Certificates Series
		2006-S3 (Class A1)	5.430	06/25/21	Aaa		996,407
2,000,000	i	Flagstar Home Equity Loan Trust Series 2007-
		1A (Class AF3)	5.781	01/25/35	Aaa		1,971,708
347,941	i	GMAC Mortgage Corporation Loan Trust 2005-
		HE2 A3	4.622	11/25/35	Aaa		344,584
2,000,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A3	5.590	10/25/29	Aaa		1,990,846
2,000,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A4	5.810	10/25/29	Aaa		1,971,248
250,000		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A3)	5.190	02/15/11	Aaa		249,339
273,158		Long Beach Asset Holdings Corp Series 2006-4
		(Class N1)	5.877	06/25/46	NA		204,869
25,917	v	Long Beach Asset Holdings Corp Series 2006-6
		(Class N1)	6.072	09/25/46	NA		19,438
2,257,885		Marriott Vacation Club Owner Trust Series 2006-
		1A (Class A)	5.737	04/20/28	Aaa		2,260,792
588,011	v	New York City Tax Lien Series 2006-AA (Class
		A)	5.930	07/01/36	Aaa		587,552

392

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     500,000	i	Renaissance Home Equity Loan Trust Series
		2006-3 (Class AF3)	5.586%	11/25/36	Aaa	$	496,157
4,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-H12 (Class A3)	5.790	02/25/36	Aaa		3,987,392
2,000,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class A3)	5.570	02/25/36	Aaa		1,965,934
500,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M2)	6.060	02/25/36	Aa2		487,667
2,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A2)	5.950	02/25/36	Aaa		1,999,928
1,300,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A3)	5.960	02/25/36	Aaa		1,298,805
1,391,486	v	Sierra Receivables Funding Co Series 2006-1A
		(Class A1)	5.840	05/20/18	Aaa		1,394,827
		TOTAL ASSET BACKED					34,781,927
CHEMICALS AND ALLIED PRODUCTS - 0.72%
350,000	e	Abbott Laboratories	5.600	05/15/11	A1		351,438
1,250,000		Eli Lilly & Co	2.900	03/15/08	Aa3		1,230,280
300,000		Lubrizol Corp	4.625	10/01/09	Baa3		294,038
		TOTAL CHEMICALS AND ALLIED PRODUCTS					1,875,756
COMMUNICATIONS - 1.14%
350,000		Alamosa Delaware, Inc	11.000	07/31/10	Baa3		370,562
1,500,000		Alamosa Delaware, Inc	8.500	01/31/12	Baa3		1,573,125
250,000		Allbritton Communications Co	7.750	12/15/12	B1		251,250
600,000	g	Time Warner Cable, Inc	5.400	07/02/12	Baa2		588,975
200,000		Viacom, Inc	5.750	04/30/11	Baa3		199,719
		TOTAL COMMUNICATIONS					2,983,631
DEPOSITORY INSTITUTIONS - 5.96%
350,000		Bank of America Corp	4.875	09/15/12	Aa1		339,282
600,000		Citigroup, Inc	5.100	09/29/11	Aa1		590,333
4,000,000	e	Citigroup, Inc	5.250	02/27/12	Aa1		3,949,638
165,000	e	FIA Card Services NA	5.375	01/15/08	Aaa		164,962
500,000		FIA Card Services NA	7.125	11/15/12	Baa2		535,180
1,250,000	e	JPMorgan Chase & Co	3.500	03/15/09	Aa2		1,212,118
250,000		M&I Marshall & Ilsley Bank	4.125	09/04/07	Aa3		249,520
750,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3		730,140
250,000		Popular North America, Inc	3.875	10/01/08	A2		244,465
250,000		Popular North America, Inc	5.650	04/15/09	A2		249,431
625,000		US Bank NA	5.700	12/15/08	Aa2		627,053
625,000		Wachovia Bank NA	4.850	07/30/07	Aa1		624,731
625,000	e	Wachovia Corp	5.300	10/15/11	Aa3		618,614
500,000	e	Washington Mutual, Inc	5.500	08/24/11	A2		495,246
2,900,000	e	Wells Fargo & Co	4.875	01/12/11	Aa1		2,844,426
1,000,000	e	Wells Fargo Bank NA	6.450	02/01/11	Aa1		1,029,518
1,000,000		Western Financial Bank	9.625	05/15/12	Aa2		1,071,770
		TOTAL DEPOSITORY INSTITUTIONS					15,576,427
EATING AND DRINKING PLACES - 0.24%
625,000	e	McDonald's Corp	5.950	01/15/08	A2		626,812
		TOTAL EATING AND DRINKING PLACES					626,812

393

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 3.10%
$     625,000		Atmos Energy Corp	4.000%	10/15/09	Baa3	$	603,840
300,000		Commonwealth Edison Co	3.700	02/01/08	Baa2		296,510
275,000		Consumers Energy Co	4.400	08/15/09	Baa1		268,713
2,475,000		Duke Energy Carolinas LLC	3.750	03/05/08	A2		2,447,042
625,000		Midamerican Energy Holdings Co	4.625	10/01/07	Baa1		623,479
1,250,000		Ohio Power Co	5.300	11/01/10	A3		1,240,049
625,000		ONEOK Partners LP	5.900	04/01/12	Baa2		628,558
375,000		Pepco Holdings, Inc	5.500	08/15/07	Baa3		375,150
1,000,000		Tampa Electric Co	5.375	08/15/07	Baa2		999,690
600,000		Texas Eastern Transmission LP	7.300	12/01/10	A3		630,650
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					8,113,681
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.30%
500,000		Cooper Industries, Inc	5.250	07/01/07	A3		500,000
300,000	e	Hewlett-Packard Co	3.625	03/15/08	A2		296,210
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					796,210
FOOD AND KINDRED PRODUCTS - 0.84%
625,000	g	Cadbury Schweppes US Finance LLC	3.875	10/01/08	Baa2		611,895
1,000,000		Diageo Capital plc	5.125	01/30/12	A3		978,993
625,000	e	Kraft Foods, Inc	4.000	10/01/08	Baa1		613,192
		TOTAL FOOD AND KINDRED PRODUCTS					2,204,080
FOOD STORES - 0.48%
625,000		Fred Meyer, Inc	7.450	03/01/08	Baa2		632,793
625,000		Safeway, Inc	4.125	11/01/08	Baa2		613,039
		TOTAL FOOD STORES					1,245,832
FURNITURE AND FIXTURES - 0.19%
500,000		Masco Corp	4.625	08/15/07	Baa1		499,388
		TOTAL FURNITURE AND FIXTURES					499,388
GENERAL BUILDING CONTRACTORS - 0.21%
500,000		DR Horton, Inc	9.750	09/15/10	Ba1		541,772
		TOTAL GENERAL BUILDING CONTRACTORS					541,772
GENERAL MERCHANDISE STORES - 1.18%
1,250,000		May Department Stores Co	3.950	07/15/07	Baa2		1,249,350
625,000	e	Target Corp	3.375	03/01/08	A1		617,196
625,000	e	Wal-Mart Stores, Inc	4.375	07/12/07	Aa2		624,895
625,000	e	Wal-Mart Stores, Inc	4.000	01/15/10	Aa2		604,583
		TOTAL GENERAL MERCHANDISE STORES					3,096,024
HOLDING AND OTHER INVESTMENT OFFICES - 0.24%
625,000		Simon Property Group LP	5.600	09/01/11	A3		624,745
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					624,745
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.47%
250,000	e	Hewlett-Packard Co	5.250	03/01/12	A2		246,945
1,000,000		Stanley Works	5.000	03/15/10	A2		989,412
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					1,236,357

394

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
INSURANCE CARRIERS - 0.80%
$     250,000	g	Mantis Reef Ltd	4.799%	11/03/09	A3	$	245,172
1,000,000		Prudential Financial, Inc	5.800	06/15/12	A3		1,006,442
850,000		UnitedHealth Group, Inc	5.250	03/15/11	A3		840,128
		TOTAL INSURANCE CARRIERS					2,091,742
NONDEPOSITORY INSTITUTIONS - 5.84%
300,000		American General Finance Corp	2.750	06/15/08	A1		292,688
1,250,000	g	American Honda Finance Corp	5.125	12/15/10	Aa3		1,237,740
2,000,000	g	BA Covered Bond Issuer	5.500	06/14/12	Aaa		2,006,776
600,000	e	Boeing Capital Corp Ltd	6.100	03/01/11	A3		613,574
100,000		Capital One Financial Corp	5.700	09/15/11	A3		99,553
1,250,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		1,214,741
350,000	e	CIT Group, Inc	5.400	02/13/12	A2		342,871
1,000,000	i	Countrywide Financial Corp	5.780	05/07/12	A3		1,000,515
500,000	e	Ford Motor Credit Co	5.700	01/15/10	B1		477,675
300,000		Ford Motor Credit Co	9.875	08/10/11	B1		314,890
625,000		General Motors Acceptance Corp LLC	6.125	08/28/07	Ba1		625,426
500,000		General Motors Acceptance Corp LLC	6.625	05/15/12	Ba1		482,840
1,250,000	e	HSBC Finance Corp	5.250	01/14/11	Aa3		1,234,978
2,000,000		HSBC Finance Corp	5.900	06/19/12	Aa3		2,011,145
1,000,000	g	IBM Canada Credit Services Co	3.750	11/30/07	A1		994,471
500,000		International Lease Finance Corp	5.450	03/24/11	A1		496,652
625,000		Residential Capital LLC	6.125	11/21/08	Baa3		620,011
500,000		Residential Capital LLC	6.500	06/01/12	Baa3		487,096
250,000	e	SLM Corp	5.400	10/25/11	A2		229,371
500,000	e	Toyota Motor Credit Corp	2.875	08/01/08	Aaa		486,619
		TOTAL NONDEPOSITORY INSTITUTIONS					15,269,632
OIL AND GAS EXTRACTION - 1.22%
625,000		Anadarko Petroleum Corp	3.250	05/01/08	Baa3		612,903
250,000		BJ Services Co	5.750	06/01/11	Baa1		249,305
300,000		Devon OEI Operating, Inc	4.375	10/01/07	Baa3		299,123
2,000,000	e,g	Weatherford International, Inc	5.950	06/15/12	Baa1		2,017,958
		TOTAL OIL AND GAS EXTRACTION					3,179,289
OTHER MORTGAGE BACKED SECURITIES - 2.14%
615,597		Banc of America Mortgage Securities Series 2006	6.000	05/01/36	Aaa		615,969
523,697	i	CIT Group Home Equity Loan Trust Series 2002-	6.830	06/25/33	Ba1		431,825
422,618		First Horizon Asset Securities, Inc Series 2003-9 (	5.500	11/25/33	NA		419,904
2,000,000		LB-UBS Commercial Mortgage Trust Series 2005	4.553	07/15/30	Aaa		1,954,088
1,200,000		Morgan Stanley Capital I Series 2005-HQ5 (Class	4.809	01/14/42	NA		1,182,061
1,000,000	i	Saxon Asset Securities Trust Series 2002-2 (Class	6.120	11/25/30	Aaa		998,468
		TOTAL OTHER MORTGAGE BACKED SECURITIES					5,602,315
PIPELINES, EXCEPT NATURAL GAS - 1.46%
750,000		Enbridge Energy Partners LP	4.000	01/15/09	Baa2		733,258
1,250,000		Enterprise Products Operating LP	4.000	10/15/07	Baa3		1,244,821
625,000		Enterprise Products Operating LP	4.950	06/01/10	Baa3		614,453
625,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		617,865
625,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		614,006
		TOTAL PIPELINES, EXCEPT NATURAL GAS					3,824,403

395

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
RAILROAD TRANSPORTATION - 0.19%
$     500,000		Union Pacific Corp	5.750%	10/15/07	Baa2	$	500,266
		TOTAL RAILROAD TRANSPORTATION					500,266
REAL ESTATE - 0.56%
1,500,000	g,i	USB Realty Corp	6.091	12/30/49	A1		1,471,353
		TOTAL REAL ESTATE					1,471,353
SECURITY AND COMMODITY BROKERS - 1.85%
500,000		Franklin Resources, Inc	3.700	04/15/08	A1		493,607
500,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		487,973
650,000	e	Goldman Sachs Group, Inc	5.300	02/14/12	Aa3		639,558
500,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3		489,779
600,000	e	Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		589,198
1,250,000	e	Merrill Lynch & Co, Inc	4.125	09/10/09	Aa3		1,216,638
925,000		Morgan Stanley	3.625	04/01/08	Aa3		912,355
		TOTAL SECURITY AND COMMODITY BROKERS					4,829,108
TRANSPORTATION BY AIR - 0.12%
300,000		FedEx Corp	5.500	08/15/09	Baa2		299,545
		TOTAL TRANSPORTATION BY AIR					299,545
TRANSPORTATION EQUIPMENT - 0.70%
500,000	e	DaimlerChrysler NA Holding Corp	5.875	03/15/11	Baa1		502,526
100,000		DaimlerChrysler NA Holding Corp	5.750	09/08/11	Baa1		100,105
1,250,000		General Dynamics Corp	3.000	05/15/08	A2		1,224,877
		TOTAL TRANSPORTATION EQUIPMENT					1,827,508
		TOTAL CORPORATE BONDS					113,450,565
		(Cost $114,563,822)
GOVERNMENT BONDS - 55.21%
AGENCY SECURITIES - 33.44%
750,000		Federal Farm Credit Bank (FFCB)	3.375	07/15/08	Aaa		735,942
750,000		FFCB	4.125	04/15/09	Aaa		736,809
5,000,000		FFCB	5.375	07/18/11	Aaa		5,020,793
3,000,000		Federal Home Loan Bank (FHLB)	5.375	08/19/11	Aaa		3,012,322
5,000,000		Federal Home Loan Mortgage Corp (FHLMC)	5.125	10/24/07	Aaa		4,995,610
500,000		FHLMC	3.750	02/27/09	Aaa		488,402
4,700,000		FHLMC	4.750	11/03/09	Aaa		4,658,072
6,500,000		FHLMC	4.875	02/09/10	Aaa		6,451,426
2,700,000		FHLMC	7.000	03/15/10	Aaa		2,820,375
729,296		FHLMC	5.125	10/15/15	NA		716,930
690,700		FHLMC	6.000	09/15/16	NA		694,987
16,000,000		Federal National Mortgage Association (FNMA)	6.000	05/15/08	Aaa		16,090,176
9,750,000		FNMA	5.000	09/15/08	Aaa		9,726,268
3,000,000		FNMA	5.375	08/15/09	Aaa		3,012,626
3,000,000		FNMA	4.625	12/15/09	Aaa		2,962,563
12,900,000		FNMA	7.125	06/15/10	Aaa		13,566,324
3,500,000		FNMA	6.250	02/01/11	Aa2		3,600,821

396

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     200,000		Private Export Funding Corp	5.870%	07/31/08	Aaa	$	201,271
1,000,000		Private Export Funding Corp	7.200	01/15/10	Aaa		1,046,437
7,000,000		Private Export Funding Corp	4.900	12/15/11	Aaa		6,901,125
		TOTAL AGENCY SECURITIES					87,439,279
FOREIGN GOVERNMENT BONDS - 2.71%
250,000	e	Canada Mortgage & Housing Corp	4.800	10/01/10	Aaa		247,015
1,100,000		Eksportfinans A/S	5.000	02/14/12	Aaa		1,089,011
1,000,000	g	Federal Republic of Germany	3.875	06/01/10	Aaa		968,576
1,500,000		International Finance Corp	5.125	05/02/11	Aaa		1,494,282
1,550,000	e	Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		1,553,898
250,000		Landwirtschaftliche Rentenbank	5.250	07/02/12	Aaa		249,181
1,000,000	e	Province of Manitoba Canada	4.450	04/12/10	Aa1		979,652
500,000		Province of Manitoba Canada	5.000	02/15/12	Aa1		494,466
		TOTAL FOREIGN GOVERNMENT BONDS					7,076,081
MORTGAGE BACKED SECURITIES - 1.36%
201,188		Federal Home Loan Mortgage Corp (FHLMC)	6.000	12/15/30			202,099
130,199		Federal Home Loan Mortgage Corp Gold
		(FGLMC)	6.000	12/01/17			130,920
591,703		FGLMC	5.500	01/01/19			584,762
515,559		FGLMC	5.500	01/01/19			509,511
548,259		Federal National Mortgage Association (FNMA)	6.143	02/01/08			546,974
850,109		FNMA	6.366	12/01/08			848,273
108,176		FNMA	5.000	06/01/13			106,297
505,841		FNMA	5.000	02/25/35			491,309
131,300	i	Government National Mortgage Association
		(GNMA)	6.230	06/16/21			132,097
		TOTAL MORTGAGE BACKED SECURITIES					3,552,242
MUNICIPAL BONDS - 0.57%
1,500,000		Grand Prairie Sports Facilities	7.130	09/15/18	Aaa		1,505,745
		TOTAL MUNICIPAL BONDS					1,505,745
U.S. TREASURY SECURITIES - 17.13%
7,500,000		United States Treasury Note	4.625	03/31/08			7,477,200
1,000,000		United States Treasury Note	5.125	06/30/08			1,001,010
6,250,000		United States Treasury Note	4.875	10/31/08			6,242,562
4,000,000		United States Treasury Note	4.500	04/30/09			3,973,320
2,000,000		United States Treasury Note	4.500	05/15/10			1,979,062
2,500,000		United States Treasury Note	4.500	11/30/11			2,458,350
21,211,000		United States Treasury Note	4.625	12/31/11			20,951,589
250,000		United States Treasury Note	4.500	03/31/12			245,400
462,000		United States Treasury Note	4.750	05/31/12			458,415
		TOTAL U.S. TREASURY SECURITIES					44,786,908
		TOTAL GOVERNMENT BONDS					144,360,255
		(Cost $145,381,300)
		TOTAL BONDS					257,810,820
		(Cost $259,945,122)

397

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
SHARES		COMPANY		VALUE
SHORT-TERM INVESTMENTS - 5.71%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.71%
14,929,915		State Street Navigator Securities Lending Prime Portfolio	$	14,929,915
		TOTAL SHORT-TERM INVESTMENTS		14,929,915
		(Cost $14,929,915)
		TOTAL PORTFOLIO - 104.31%		272,740,735
		(Cost $274,875,037)
		OTHER ASSETS & LIABILITIES, NET - (4.31)%		(11,276,031	)
		NET ASSETS - 100.00%	$	261,464,704
		ABBREVIATION:
		NR - Not Rated
	+	As provide by Moody's Investors Service (unaudited).
	e	All or a portion of these securities are out on loan.
	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, 2007, the value of these securities amounted to $10,142,916 or 3.88% of net assets.
	i	Floating rate or variable rate securities reflects the rate at June 30, 2007.
	v	Security valued at fair value.

398

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
HIGH-YIELD FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
CORPORATE BONDS - 96.60%
AMUSEMENT AND RECREATION SERVICES - 3.00%
$      2,100,000	g	Buffalo Thunder Development Authority	9.375%	12/15/14	B2	$	2,100,000
1,125,000	e	Mohegan Tribal Gaming Authority	6.125	02/15/13	Baa3		1,091,250
500,000		Mohegan Tribal Gaming Authority	6.875	02/15/15	Ba2		486,250
2,333,000	g	Pokagon Gaming Authority	10.375	06/15/14	B3		2,572,133
2,340,000	g	Shingle Springs Tribal Gaming Authority	9.375	06/15/15	B3		2,360,475
2,750,000		Speedway Motorsports, Inc	6.750	06/01/13	Ba2		2,681,250
		TOTAL AMUSEMENT AND RECREATION SERVICES					11,291,358
APPAREL AND OTHER TEXTILE PRODUCTS - 0.38%
1,448,000		Broder Brothers	11.250	10/15/10	B3		1,428,090
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS					1,428,090
AUTO REPAIR, SERVICES AND PARKING - 2.21%
1,680,000		Avis Budget Car Rental LLC	7.625	05/15/14	Ba3		1,696,800
640,000		Hertz Corp	8.875	01/01/14	B1		667,200
2,080,000	e	Hertz Corp	10.500	01/01/16	B2		2,298,400
4,221,000		Keystone Automotive Operations, Inc	9.750	11/01/13	Caa2		3,672,270
		TOTAL AUTO REPAIR, SERVICES AND PARKING					8,334,670
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 1.43%
2,155,000		Asbury Automotive Group, Inc	8.000	03/15/14	B3		2,176,550
1,500,000		Autonation, Inc	7.000	04/15/14	Ba2		1,481,250
1,690,000		Sonic Automotive, Inc	8.625	08/15/13	B1		1,740,700
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS					5,398,500
BUSINESS SERVICES - 3.16%
1,700,000		Activant Solutions, Inc	9.500	05/01/16	Caa1		1,670,250
1,513,000	i	Advanstar Communications, Inc	10.360	11/30/14	Caa2		1,513,000
1,275,000	g	Deluxe Corp	7.375	06/01/15	Ba2		1,268,625
3,250,000	e	Lamar Media Corp	7.250	01/01/13	Ba3		3,241,875
852,000		Lamar Media Corp	6.625	08/15/15	Ba3		807,270
1,259,000	g	Open Solutions, Inc	9.750	02/01/15	Caa1		1,271,590
852,000		United Rentals North America, Inc	7.750	11/15/13	B3		853,065
1,250,000		Universal Compression, Inc	7.250	05/15/10	B1		1,251,563
		TOTAL BUSINESS SERVICES					11,877,238
CHEMICALS AND ALLIED PRODUCTS - 4.26%
1,880,000		Chemtura Corp	6.875	06/01/16	Ba2		1,776,600
1,250,000		Hercules, Inc	6.750	10/15/29	Ba3		1,212,500
1,375,000		Huntsman International LLC	7.875	11/15/14	B2		1,472,969
3,068,000	e,g	Ineos Group Holdings plc	8.500	02/15/16	B2		2,998,970
850,000	j	Koppers Holdings, Inc (Step Bond 0.000% until 11/15/09,
		9.875% until 11/15/14)		11/15/14	B3		726,750
1,272,000		Koppers, Inc	9.875	10/15/13	B2		1,357,860

399

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     1,500,000	g	Mosaic Co	7.375%	12/01/14	B1	$	1,515,000
1,250,000		Nalco Co	7.750	11/15/11	B1		1,259,375
3,602,000	g	Reichhold Industries, Inc	9.000	08/15/14	B2		3,710,060
		TOTAL CHEMICALS AND ALLIED PRODUCTS					16,030,084
COAL MINING - 2.59%
3,050,000		Arch Western Finance LLC	6.750	07/01/13	B1		2,928,000
750,000		Foundation PA Coal Co	7.250	08/01/14	Ba3		743,438
4,456,000	g	Griffin Coal Mining Co Pty Ltd	9.500	12/01/16	Ba2		4,584,110
1,500,000	e	Peabody Energy Corp	6.875	03/15/13	Ba1		1,492,500
		TOTAL COAL MINING					9,748,048
COMMUNICATIONS - 8.97%
4,402,000		Allbritton Communications Co	7.750	12/15/12	B1		4,424,010
667,000		American Cellular Corp	10.000	08/01/11	B3		698,683
1,250,000	g	Charter Communications Operating LLC	8.000	04/30/12	B3		1,265,625
250,000	e	Citizens Communications Co	9.250	05/15/11	Ba2		270,000
1,530,000		Citizens Communications Co	7.125	03/15/19	Ba2		1,445,850
2,826,000		Citizens Communications Co	9.000	08/15/31	Ba2		2,910,780
1,812,000		CSC Holdings, Inc	7.625	04/01/11	B2		1,798,410
1,700,000		Echostar DBS Corp	6.375	10/01/11	Ba3		1,666,000
250,000		Echostar DBS Corp	6.625	10/01/14	Ba3		238,750
2,400,000		Echostar DBS Corp	7.125	02/01/16	Ba3		2,346,000
2,398,000		Intelsat Bermuda Ltd	11.250	06/15/16	Caa1		2,685,760
1,690,000		Intelsat Corp	9.000	08/15/14	B2		1,761,825
1,260,000		Intelsat Subsidiary Holding Co Ltd	8.250	01/15/13	B2		1,278,900
2,340,000	g,i	iPCS, Inc	7.480	05/01/13	B1		2,342,925
165,000		Quebecor Media, Inc	7.750	03/15/16	B2		167,475
4,830,000		Qwest Communications International, Inc	7.250	02/15/11	Ba3		4,866,225
2,300,000		Qwest Corp	7.500	10/01/14	Ba1		2,357,500
1,250,000		Videotron Ltee	6.875	01/15/14	Ba2		1,225,000
		TOTAL COMMUNICATIONS					33,749,718
EATING AND DRINKING PLACES - 0.25%
920,000	g	Aramark Corp	8.500	02/01/15	B3		936,100
		TOTAL EATING AND DRINKING PLACES					936,100
ELECTRIC, GAS, AND SANITARY SERVICES - 9.92%
375,000		AES Corp	9.375	09/15/10	B1		398,906
1,000,000		AES Corp	8.875	02/15/11	B1		1,053,750
500,000	g	AES Corp	9.000	05/15/15	Ba3		529,375
250,000		Allied Waste North America, Inc	6.500	11/15/10	B1		245,000
1,000,000		Allied Waste North America, Inc	5.750	02/15/11	B1		951,250
500,000	e	Allied Waste North America, Inc	6.375	04/15/11	B1		486,250
3,200,000		Allied Waste North America, Inc	7.875	04/15/13	B1		3,236,000
1,750,000	h,i	CMS Energy Corp	6.310	01/15/13	Ba1		1,752,188
2,531,000	e	Dynegy Holdings, Inc	8.750	02/15/12	B2		2,606,930
2,775,000		Edison Mission Energy	7.500	06/15/13	B1		2,747,250
1,275,000	g	Edison Mission Energy	7.000	05/15/17	B1		1,201,688
2,400,000	g	El Paso Performance-Linked Trust	7.750	07/15/11	Ba3		2,472,000
2,528,365		Midwest Generation LLC	8.300	07/02/09	Ba2		2,578,933
2,315,000		Mirant North America LLC	7.375	12/31/13	B2		2,367,088
250,000		NRG Energy, Inc	7.250	02/01/14	B1		250,625

400

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     2,500,000		NRG Energy, Inc	7.375%	02/01/16	B1	$	2,506,250
250,000		Orion Power Holdings, Inc	12.000	05/01/10	B2		282,500
4,037,000	e	Reliant Energy, Inc	7.625	06/15/14	B3		3,936,075
1,075,000		Reliant Energy, Inc	6.750	12/15/14	B2		1,096,500
2,500,000		Sierra Pacific Resources	8.625	03/15/14	B1		2,683,280
1,250,000		Southern Natural Gas Co	8.000	03/01/32	Baa3		1,423,526
1,125,000		Williams Cos, Inc	8.125	03/15/12	Ba2		1,193,906
1,250,000		Williams Cos, Inc	7.750	06/15/31	Ba2		1,323,438
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					37,322,708
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 2.24%
2,558,000	g,o	Freescale Semiconductor, Inc	9.125	12/15/14	B1		2,404,520
5,445,000	e,g	Freescale Semiconductor, Inc	10.125	12/15/16	B2		5,118,300
845,000	g	Nortel Networks Ltd	10.125	07/15/13	B3		906,263
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					8,429,083
FABRICATED METAL PRODUCTS - 1.00%
1,250,000		Ball Corp	6.875	12/15/12	Ba1		1,250,000
2,227,000		Crown Americas LLC	7.625	11/15/13	B1		2,249,270
250,000	e	Crown Americas LLC	7.750	11/15/15	B1		251,250
		TOTAL FABRICATED METAL PRODUCTS					3,750,520
FOOD AND KINDRED PRODUCTS - 0.63%
637,000	g	Constellation Brands, Inc	7.250	05/15/17	Ba3		621,075
1,750,000		Smithfield Foods, Inc	7.750	07/01/17	Ba3		1,750,000
		TOTAL FOOD AND KINDRED PRODUCTS					2,371,075
FOOD STORES - 1.21%
4,108,000		Stater Brothers Holdings	8.125	06/15/12	B2		4,138,810
426,000	g	Stater Brothers Holdings	7.750	04/15/15	B2		427,065
		TOTAL FOOD STORES					4,565,875
FURNITURE AND HOME FURNISHINGS STORES - 0.80%
2,900,000	e	GSC Holdings Corp	8.000	10/01/12	Ba3		3,030,500
		TOTAL FURNITURE AND HOME FURNISHINGS STORES					3,030,500
HEALTH SERVICES - 2.22%
1,750,000		DaVita, Inc	6.625	03/15/13	B1		1,708,438
1,850,000		DaVita, Inc	7.250	03/15/15	B2		1,826,875
3,860,000	g	HCA, Inc	9.125	11/15/14	B2		4,057,825
900,000		HCA, Inc	7.500	11/06/33	Caa1		762,750
		TOTAL HEALTH SERVICES					8,355,888
HOLDING AND OTHER INVESTMENT OFFICES - 2.43%
3,990,000	g	FMC Finance III S.A.	6.875	07/15/17	Ba3		3,910,200
1,750,000		Sungard Data Systems, Inc	9.125	08/15/13	Caa1		1,791,562
1,490,000	e	Sungard Data Systems, Inc	10.250	08/15/15	Caa1		1,575,675
1,724,000		Susser Holdings LLC	10.625	12/15/13	B2		1,870,540
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					9,147,977
HOTELS AND OTHER LODGING PLACES - 1.83%
300,000		MGM Mirage	8.500	09/15/10	Ba2		313,875
3,250,000		MGM Mirage	6.750	09/01/12	Ba2		3,103,750

401

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     2,500,000	g,i	Seminole Hard Rock Entertainment, Inc	7.860%	03/15/14	B1	$	2,518,750
1,000,000		Station Casinos, Inc	6.000	04/01/12	Ba2		940,000
		TOTAL HOTELS AND OTHER LODGING PLACES					6,876,375
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.93%
3,625,000		Scientific Games Corp	6.250	12/15/12	Ba3		3,484,531
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					3,484,531
INSURANCE CARRIERS - 0.45%
1,706,000	g	Centene Corp	7.250	04/01/14	Baa3		1,680,410
		TOTAL INSURANCE CARRIERS					1,680,410
JUSTICE, PUBLIC ORDER AND SAFETY - 0.27%
750,000		Corrections Corp of America	6.250	03/15/13	Ba2		720,000
300,000		Corrections Corp of America	6.750	01/31/14	Ba2		293,250
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY					1,013,250
LEGAL SERVICES - 1.11%
1,500,000		FTI Consulting, Inc	7.625	06/15/13	Ba2		1,518,750
2,614,000		FTI Consulting, Inc	7.750	10/01/16	Ba2		2,666,280
		TOTAL LEGAL SERVICES					4,185,030
METAL MINING - 1.44%
3,400,000		Freeport-McMoRan Copper & Gold, Inc	8.250	04/01/15	Ba3		3,587,000
1,705,000		Freeport-McMoRan Copper & Gold, Inc	8.375	04/01/17	Ba3		1,820,087
		TOTAL METAL MINING					5,407,087
MISCELLANEOUS RETAIL - 3.32%
1,500,000		AmeriGas Partners LP	7.125	05/20/16	B1		1,473,750
3,250,000		Couche-Tard US LP	7.500	12/15/13	Ba2		3,274,375
1,194,000		FTD, Inc	7.750	02/15/14	B3		1,182,060
850,000		Inergy LP	6.875	12/15/14	B1		805,375
1,750,000		Inergy LP	8.250	03/01/16	B1		1,798,125
1,300,000	e,g	Michaels Stores, Inc	11.375	11/01/16	Caa1		1,358,500
1,250,000		Rite Aid Corp	7.500	01/15/15	B3		1,234,375
1,357,000	g	Sally Holdings LLC	9.250	11/15/14	B2		1,360,392
		TOTAL MISCELLANEOUS RETAIL					12,486,952
NONDEPOSITORY INSTITUTIONS - 5.23%
1,475,000		Ford Motor Credit Co	5.700	01/15/10	B1		1,409,141
1,550,000		Ford Motor Credit Co	7.875	06/15/10	B1		1,549,702
1,230,000		Ford Motor Credit Co	9.750	09/15/10	B1		1,284,348
1,704,000		Ford Motor Credit Co	9.875	08/10/11	B1		1,788,575
2,000,000		Ford Motor Credit Co	7.800	06/01/12	B1		1,951,054
1,500,000	e	Ford Motor Credit Co	7.000	10/01/13	B1		1,389,744
850,000	e	Ford Motor Credit Co	8.000	12/15/16	B1		814,171
1,650,000		General Motors Acceptance Corp LLC	5.625	05/15/09	Ba1		1,613,259
850,000		General Motors Acceptance Corp LLC	7.750	01/19/10	Ba1		860,483
1,850,000		General Motors Acceptance Corp LLC	7.250	03/02/11	Ba1		1,843,934
1,912,500		General Motors Acceptance Corp LLC	6.875	09/15/11	Ba1		1,881,238
800,000		General Motors Acceptance Corp LLC	6.625	05/15/12	Ba1		772,545
1,035,000	e	General Motors Acceptance Corp LLC	8.000	11/01/31	Ba1		1,058,371

402

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     1,530,000	g	Petroplus Finance Ltd	6.750%	05/01/14	B1	$	1,472,625
		TOTAL NONDEPOSITORY INSTITUTIONS					19,689,190
OIL AND GAS EXTRACTION - 8.41%
1,265,000	e	Chesapeake Energy Corp	7.625	07/15/13	Ba2		1,296,625
1,000,000	e	Chesapeake Energy Corp	7.500	09/15/13	Ba2		1,017,500
2,500,000	e	Chesapeake Energy Corp	7.750	01/15/15	Ba2		2,543,750
1,040,000		Chesapeake Energy Corp	6.500	08/15/17	Ba2		985,400
3,875,000		Chesapeake Energy Corp	6.875	11/15/20	Ba2		3,710,313
1,660,000	e	Chesapeake Energy Corp	2.750	11/15/35	Ba2		1,808,421
2,276,000		Cimarex Energy Co	7.125	05/01/17	B1		2,219,100
3,125,000	e,g	Complete Production Services, Inc	8.000	12/15/16	B2		3,156,250
2,410,000		Denbury Resources, Inc	7.500	04/01/13	B1		2,410,000
1,150,000		Denbury Resources, Inc	7.500	12/15/15	B1		1,147,125
1,575,000		Encore Acquisition Co	6.000	07/15/15	B1		1,389,937
675,000		Encore Acquisition Co	7.250	12/01/17	B1		621,000
1,250,000		Hanover Compressor Co	9.000	06/01/14	B2		1,321,875
3,000,000		Plains Exploration & Production Co	7.000	03/15/17	B1		2,842,500
250,000		Pogo Producing Co	6.625	03/15/15	B1		247,500
1,233,000		Range Resources Corp	7.500	05/15/16	B1		1,248,412
3,725,000	g	Sabine Pass LNG LP	7.250	11/30/13	Ba3		3,697,063
		TOTAL OIL AND GAS EXTRACTION					31,662,771
PAPER AND ALLIED PRODUCTS - 5.14%
1,182,000		Abitibi-Consolidated Co of Canada	6.000	06/20/13	B3		978,105
2,059,000		Abitibi-Consolidated, Inc	8.550	08/01/10	B3		1,966,345
2,544,000	e	Caraustar Industries, Inc	7.375	06/01/09	Caa2		2,416,800
2,985,000		Cenveo Corp	7.875	12/01/13	B3		2,925,300
1,700,000	g,i	Clondalkin Acquisition BV	7.359	12/15/13	Ba3		1,695,750
846,000		Domtar, Inc	7.875	10/15/11	B2		866,092
1,060,000	e	Domtar, Inc	7.125	08/15/15	B2		1,026,875
1,680,000	g	Georgia-Pacific Corp	7.000	01/15/15	Ba3		1,617,000
1,260,000		Greif, Inc	6.750	02/01/17	Ba2		1,231,650
1,950,000	e	Jefferson Smurfit Corp US	8.250	10/01/12	B3		1,935,375
844,000	e	Jefferson Smurfit Corp US	7.500	06/01/13	B3		818,680
1,703,000	e	NewPage Corp	12.000	05/01/13	B3		1,860,527
		TOTAL PAPER AND ALLIED PRODUCTS					19,338,499
PERSONAL SERVICES - 0.64%
2,400,000		Mac-Gray Corp	7.625	08/15/15	B2		2,412,000
		TOTAL PERSONAL SERVICES					2,412,000
PETROLEUM AND COAL PRODUCTS - 1.46%
250,000	e	Equistar Chemicals LP	8.750	02/15/09	B1		258,750
4,336,000		Lyondell Chemical Co	8.000	09/15/14	B1		4,455,240
815,000	g	Tesoro Corp	6.500	06/01/17	Ba1		796,662
		TOTAL PETROLEUM AND COAL PRODUCTS					5,510,652
PRIMARY METAL INDUSTRIES - 2.29%
399,000	e	AK Steel Corp	7.875	02/15/09	B2		398,002
1,500,000	g	Belden, Inc	7.000	03/15/17	Ba2		1,477,500
2,346,000	g	General Cable Corp	7.125	04/01/17	B1		2,322,540
1,700,000	g,i,o	Noranda Aluminium Acquisition Corp	9.360	05/15/15	B3		1,700,000
2,030,000		Novelis, Inc	7.250	02/15/15	B3		2,083,287

403

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     640,000	g	Steel Dynamics, Inc	6.750%	04/01/15	Ba2	$	627,200
		TOTAL PRIMARY METAL INDUSTRIES					8,608,529
PRINTING AND PUBLISHING - 4.50%
1,411,363	e,o	AAC Group Holding Corp	14.750	10/01/12	Caa1		1,548,971
1,500,000	e	American Achievement Corp	8.250	04/01/12	B1		1,511,250
2,130,000		Idearc, Inc	8.000	11/15/16	B2		2,151,300
1,680,000		Medianews Group, Inc	6.875	10/01/13	B2		1,444,800
1,680,000		Medianews Group, Inc	6.375	04/01/14	B2		1,398,600
3,635,000		Morris Publishing Group LLC	7.000	08/01/13	B1		3,180,625
803,000	g	Quebecor World Capital Corp	8.750	03/15/16	B2		790,955
3,060,000		RH Donnelley Corp	8.875	01/15/16	B3		3,182,400
1,750,000		Visant Corp	7.625	10/01/12	B1		1,741,250
		TOTAL PRINTING AND PUBLISHING					16,950,151
SECURITY AND COMMODITY BROKERS - 0.27%
1,000,000	e	E*Trade Financial Corp	7.375	09/15/13	Ba2		1,015,000
		TOTAL SECURITY AND COMMODITY BROKERS					1,015,000
SOCIAL SERVICES - 0.73%
2,780,000	g	Knowledge Learning Corp, Inc	7.750	02/01/15	B2		2,745,250
		TOTAL SOCIAL SERVICES					2,745,250
STONE, CLAY, AND GLASS PRODUCTS - 0.92%
1,000,000		Owens Brockway Glass Container, Inc	8.875	02/15/09	Ba2		1,017,500
1,375,000		Owens Brockway Glass Container, Inc	7.750	05/15/11	Ba2		1,411,094
1,000,000	e	Owens Brockway Glass Container, Inc	8.750	11/15/12	Ba2		1,045,000
		TOTAL STONE, CLAY, AND GLASS PRODUCTS					3,473,594
TRANSPORTATION BY AIR - 0.15%
578,000	g	Bristow Group, Inc	7.500	09/15/17	Ba2		579,445
		TOTAL TRANSPORTATION BY AIR					579,445
TRANSPORTATION EQUIPMENT - 4.68%
250,000		American Railcar Industries, Inc	7.500	03/01/14	B1		248,750
2,452,000	g	Bombardier, Inc	6.750	05/01/12	Ba2		2,415,220
1,109,000	g	Bombardier, Inc	8.000	11/15/14	Ba2		1,147,815
1,700,000		General Motors Corp	7.200	01/15/11	Caa1		1,634,125
1,700,000	e	General Motors Corp	7.125	07/15/13	Baa1		1,595,875
650,000	e	General Motors Corp	7.700	04/15/16	Caa1		604,500
1,475,000	e	General Motors Corp	9.400	07/15/21	Caa1		1,441,812
3,370,000	e	General Motors Corp	8.375	07/15/33	Caa1		3,075,125
1,917,000	e,g	Hawker Beechcraft Acquisition Co LLC	9.750	04/01/17	Caa1		2,003,265
850,000	e	Lear Corp	8.500	12/01/13	B3		816,000
2,750,000	g	TRW Automotive, Inc	7.000	03/15/14	Ba3		2,619,375
		TOTAL TRANSPORTATION EQUIPMENT					17,601,862
TRANSPORTATION SERVICES - 0.34%
1,300,000		United Rentals North America, Inc	6.500	02/15/12	B1		1,277,250
		TOTAL TRANSPORTATION SERVICES					1,277,250
WATER TRANSPORTATION - 1.08%
4,021,000		Gulfmark Offshore, Inc	7.750	07/15/14	B1		4,061,210
		TOTAL WATER TRANSPORTATION					4,061,210

404

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
WHOLESALE TRADE-DURABLE GOODS - 3.88%
$     3,390,000	g	Baker & Taylor, Inc	11.500%	07/01/13	B2	$	3,542,550
2,318,000	g,i,o	CDRV Investors, Inc	9.860	12/01/11	Caa1		2,318,000
1,900,000	e	IKON Office Solutions, Inc	7.750	09/15/15	Ba3		1,933,657
1,504,000		Interline Brands, Inc	8.125	06/15/14	B3		1,515,280
1,000,000	e	Russel Metals, Inc	6.375	03/01/14	Ba2		960,000
4,325,000		Ryerson, Inc	8.250	12/15/11	B3		4,346,625
		TOTAL WHOLESALE TRADE-DURABLE GOODS					14,616,112
WHOLESALE TRADE-NONDURABLE GOODS - 0.83%
1,441,000	e	Dean Foods Co	7.000	06/01/16	B1		1,376,155
1,700,000		Supervalu, Inc	7.500	11/15/14	B1		1,742,500
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					3,118,655
		TOTAL CORPORATE BONDS					363,561,237
		(Cost $364,864,654)
SHORT-TERM INVESTMENTS - 14.29%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 2.76%
10,400,000		Federal Home Loan Bank (FHLB)	0.000	07/02/07			10,400,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 11.53%
43,406,580		State Street Navigator Securities Lending Prime Portfolio					43,406,580
		TOTAL SHORT-TERM INVESTMENTS					53,806,580
		(Cost $53,805,193)
		TOTAL PORTFOLIO - 110.89%					417,367,817
		(Cost $418,669,847)
		OTHER ASSETS & LIABILITIES, NET - (10.89)%					(40,987,266	)
		NET ASSETS - 100.00%				$	376,380,551

+	As provided by Moody's Investors Service (unaudited).
e	All or a portion of these securities are out on loan.
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, 2007, the value of these securities amounted to $91,589,243 or 24.33% of net assets.
h	These securities were purchased on a delayed delivery basis.
i	Floating rate or variable rate securities reflects the rate at June 30, 2007.

405

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

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
TAX-EXEMPT BOND FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
LONG-TERM MUNICIPAL BONDS - 97.64%
ALASKA - 1.01%
$     1,460,000		Alaska Railroad Corp	5.250%	08/01/2016	Aaa	$	1,576,902
980,000		Northern TOB Securitization Corp	4.625	06/01/2023	Baa3		957,783
		TOTAL ALASKA					2,534,685
ALABAMA - 1.50%
265,000	e	Birmingham Industrial Water Board, ETM	6.000	07/01/2007	Rfun		265,000
1,000,000		City of Birmingham GO	5.000	12/01/2016	Aaa		1,063,990
2,400,000		Courtland IDB, International Paper Project, Series 2003A	5.000	11/01/2013	Baa3		2,444,088
		TOTAL ALABAMA					3,773,078
ARIZONA - 3.33%
1,000,000		Arizona Health Facilities Authority Hospital System
		Revenue, Pre-Refunded 12/01/12 @ 101	6.375	12/01/2037	Aaa		1,116,770
650,000		Arizona Health Facilities Authority Hospital System
		Revenue, ETM	5.625	12/01/2015	Aaa		686,764
715,000		Arizona State Transportation Board, Grant Anticipation Note	5.000	07/01/2014	Aa3		754,647
1,535,000		Arizona Water Infrastructure Finance Authority, Water
		Quality	5.000	10/01/2016	Aaa		1,639,042
2,045,000		Greater Arizona Development Authority	5.000	08/01/2014	Aaa		2,164,673
570,000		Mesa GO	5.000	07/01/2019	Aaa		610,385
1,310,000		Tucson Arizona, COP	5.250	07/01/2014	Aaa		1,401,661
		TOTAL ARIZONA					8,373,942
ARKANSAS - 2.01%
1,600,000		Arkansas Development Finance Authority, Waste Water
		Revenue, Series 2001-A	5.500	12/01/2018	NR		1,765,504
380,000	e	Arkansas Housing Development Agency, ETM	8.375	07/01/2010	Aaa		402,093
1,260,000		Arkansas State Development Finance Authority Revenue	5.000	11/01/2014	NR		1,331,039
650,000		Fayetteville	5.000	11/01/2016	Aaa		692,835
765,000		North Little Rock	6.500	07/01/2015	Aaa		854,513
		TOTAL ARKANSAS					5,045,984
CALIFORNIA - 0.92%
1,385,000		California State Department of Water Resources	5.500	05/01/2012	A1		1,470,219
270,000	i	California Statewide Communities Development Authority
		Mandatory Put 10/01/16	4.250	11/01/2033	Aaa		269,573
40,000	i	Delta Counties Home Mortgage Finance Authority, AMT	6.700	06/01/2024	Aaa		40,388
500,000		Los Angeles Unified School District GO	5.000	07/01/2017	Baa2		534,885
		TOTAL CALIFORNIA					2,315,065
CONNECTICUT - 0.58%
1,240,000	e	Connecticut Municipal Electric Energy Cooperative, ETM	7.000	01/01/2015	#Aaa		1,452,139
		TOTAL CONNECTICUT					1,452,139
DISTRICT OF COLUMBIA - 1.38%
2,300,000		District of Columbia GO	5.000	06/01/2016	Aaa		2,431,951
300,000		District of Columbia Hospital Revenue Medlantic, ETM	6.000	08/15/2010	Aaa		318,096
685,000		District of Columbia, COP	5.250	01/01/2014	Aaa		727,477
		TOTAL DISTRICT OF COLUMBIA					3,477,524

406

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

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
FLORIDA - 6.35%
$     1,485,000		Broward County School Board, COP	5.250%	07/01/2016	Aaa	$	1,592,692
1,500,000		Broward County School Board, COP	5.250	07/01/2015	Aaa		1,602,795
1,150,000		Charlotte County Florida Utility Revenue	5.000	10/01/2014	Aaa		1,215,665
1,600,000		First Florida Governmental Financing Commission, Series
		2001B	5.500	07/01/2015	Aaa		1,747,872
2,000,000		Florida State Board of Education Lottery Revenue	5.000	07/01/2014	Aaa		2,110,900
725,000		Florida State Board of Education, Lottery Revenue	5.000	07/01/2018	Aaa		755,798
2,000,000		Lake County School Board, COP	5.250	06/01/2017	Aaa		2,150,200
1,925,000		Lake County School Board, COP	5.250	06/01/2018	Aaa		2,070,626
100,000	e	Orange County Health Facilities Authority Revenue, ETM	5.700	10/01/2012	#Aaa		107,273
1,440,000	e	Orange County Health Facilities Authority, ETM	6.250	10/01/2010	Aaa		1,541,016
1,000,000		Pinellas County Health Facility Authority, Baycare, ETM,
		Pre-Refunded 05/01/13 @ 100	5.500	11/15/2033	Aa3		1,074,390
		TOTAL GEORGIA					15,969,227
GEORGIA - 1.00%
270,000		Atlanta Georgia Water & Sewer Revenue	5.500	11/01/2010	Aa3		281,186
100,000		Atlanta Georgia Water & Wastewater Revenue	5.500	11/01/2013	Aaa		106,860
1,110,000		Atlanta Water & Wastewater, Series 1999-A	5.500	11/01/2014	Aaa		1,194,282
100,000		Cherokee County Water & Sewer Revenue	5.500	08/01/2018	Aaa		109,787
770,000		State of Georgia GO	5.000	07/01/2013	Aaa		811,903
		TOTAL GEORGIA					2,504,018
ILLINOIS - 2.65%
940,000		Chicago Metropolitan Water Reclamation District-Greater
		Chicago, ETM	7.000	01/01/2011	#Aaa		1,003,497
1,000,000		Chicago Public Building Commission Building	5.000	03/01/2015	Aaa		1,056,550
1,000,000		City of Chicago GO	5.000	12/01/2015	Aaa		1,060,490
740,000		Cook County Community Consolidated School District No 64	5.500	12/01/2014	Aaa		806,060
1,175,000		Kendall-Grundy Etc Counties High School District No 308
			5.000	10/01/2014	Aaa		1,241,341
150,000		Madison-Bond Etc Counties Community Unit School District
		No 5 GO	5.000	02/01/2019	Aaa		158,787
1,260,000		Metropolitan Pier & Exposition Authority	5.375	06/01/2013	Aaa		1,349,599
		TOTAL ILLINOIS					6,676,324
INDIANA - 4.92%
1,340,000		Benton School Improvement Building Corp	5.000	07/15/2015	NR		1,418,015
1,200,000		Center Grove School Building Corp	5.000	07/15/2014	Aaa		1,266,096
1,000,000		Griffith Multi-School Building Corp	5.000	07/15/2015	Aaa		1,058,220
1,620,000		Hammond Multi-School Building Corp	5.000	07/15/2017	Aaa		1,721,072
2,120,000		Indiana Bond Bank	5.250	04/01/2019	Aaa		2,273,615
900,000		Indiana State Finance Authority Revenue	5.000	02/01/2015	Aaa		949,842
2,015,000		New Albany Floyd County School Building Corp, 1st Mtge	5.000	07/15/2015	NR		2,132,313
1,475,000		South Madison Elementary School Building Corp, 1st Mtge	5.000	07/15/2015	Aaa		1,547,673
		TOTAL INDIANA					12,366,846
KENTUCKY - 0.16%
385,000	e	Kentucky Turnpike Authority, Toll Revenue, ETM	6.000	07/01/2011	#Aaa		405,906
		TOTAL KENTUCKY					405,906

407

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

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
LOUISIANA - 1.20%
$     2,960,000		Desoto Parish, Pollution Control Revenue, International
		Paper, Series 2002A	5.000%	10/01/2012	Baa3	$	3,021,272
		TOTAL LOUISIANA					3,021,272
MARYLAND - 2.00%
2,375,000		State of Maryland GO	5.250	03/01/2015	Aaa		2,567,351
1,000,000		State of Maryland GO	5.250	03/01/2017	Aaa		1,091,710
1,280,000		State of Maryland GO	5.000	03/01/2016	Aaa		1,367,974
		TOTAL MARYLAND					5,027,035
MASSACHUSETTS - 2.64%
2,000,000	h	Massachusetts Srate Water Pollution Abatement	5.250	08/01/2017	NR		2,172,680
1,000,000		Massachusetts State College Building Authority	7.000	05/01/2016	Aaa		1,202,930
3,075,000		Massachusetts State Water Pollution Abatement	5.000	08/01/2016	Aaa		3,270,847
		TOTAL MASSACHUSETTS					6,646,457
MICHIGAN - 5.47%
1,945,000		Ann Arbor School District GO	5.000	05/01/2015	Aaa		2,062,361
1,135,000		Bedford Public School District GO	5.000	05/01/2014	Aaa		1,198,651
1,705,000		Caledonia Community Schools GO	5.000	05/01/2015	Aaa		1,807,880
1,600,000		Detroit Water Supply System Revenue	5.000	07/01/2014	Aaa		1,686,736
650,000		Forest Hills Public Schools GO	5.000	05/01/2015	Aaa		689,221
1,750,000		L'Anse Creuse Public Schools	5.000	05/01/2015	Aaa		1,855,595
1,575,000		Michigan State Trunk Line	5.500	11/01/2016	Aa3		1,732,768
1,395,000		Michigan State Trunk Line	5.500	11/01/2018	Aaa		1,551,672
850,000		New Haven Community Schools, GO	5.250	05/01/2016	Aaa		919,743
225,000		State of Michigan	5.250	05/15/2018	Aaa		244,809
		TOTAL MICHIGAN					13,749,436
MINNESOTA - 0.42%
1,000,000	h	Minnesota Public Facilities Authority Clean Water Revenue	5.000	03/01/2016	Aaa		1,059,730
		TOTAL MINNESOTA					1,059,730
MISSISSIPPI - 1.83%
1,120,000	e	Harrison County Wasterwater Management District	5.000	02/01/2015	Baa1		1,171,565
2,000,000		Mississippi Development Bank Special Obligation	5.000	07/01/2017	A2		2,124,400
250,000		Mississippi Development Bank Special Obligation, Biloxi,
		ETM, Pre-Refunded 11/01/12 @100	5.000	11/01/2018	Aaa		261,988
1,000,000		State of Mississippi, GO	5.000	12/01/2013	Aaa		1,054,820
		TOTAL MISSISSIPPI					4,612,773
MISSOURI - 2.51%
2,025,000		Missouri State Board of Public Buildings	5.000	10/01/2016	Aa1		2,162,255
1,325,000		Missouri State Environmental Improvement & Energy
		Resources Authority	5.500	07/01/2012	Aaa		1,415,935
2,400,000		Missouri State Health & Educational Facilities Authority,
		ETM	6.750	05/15/2013	#Aaa		2,737,608
		TOTAL MISSOURI					6,315,798
NEBRASKA - 0.42%
1,000,000		Central Plains Energy Nebraska Gas Revenue	5.250	12/01/2018	Aa3		1,066,300
		TOTAL NEBRASKA					1,066,300

408

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

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
NEVADA - 0.20%
$     500,000		Clark County Pollution Control Revenue Nevada Power
		Project	5.300%	10/01/2011	NR	$	501,620
		TOTAL NEVADA					501,620
NEW JERSEY - 4.95%
2,610,000		Garden State Preservation Trust, Series 2005-C	5.125	11/01/2018	Aaa		2,815,851
1,875,000		New Jersey Economic Development Authority, School
		Facilities Construction	5.250	09/01/2014	Aaa		2,009,850
350,000		New Jersey State GO	5.500	07/15/2016	Aaa		385,270
20,000		New Jersey State Turnpike Authority	6.500	01/01/2016	A3		22,692
230,000		New Jersey State Turnpike Authority	6.500	01/01/2016	A3		260,974
55,000		New Jersey State Turnpike Authority	6.500	01/01/2016	Aaa		62,407
800,000	e	New Jersey State Turnpike Authority, ETM	5.700	05/01/2013	#Aaa		836,072
1,000,000		New Jersey Transportation Trust Fund Authority	5.500	12/15/2017	Baa2		1,105,410
1,000,000		New Jersey Transportation Trust Fund Authority	5.250	12/15/2019	A1		1,080,760
260,000		New Jersey Transportation Trust Fund Authority	5.500	12/15/2015	Aaa		285,366
2,000,000		New Jersey Transportation Trust Fund Authority, ETM	5.750	12/15/2014	#Aaa		2,217,940
120,000		Tobacco Settlement Financing Corp	6.375	06/01/2032	Baa2		133,600
1,185,000		Tobacco Settlement Financing Corp, ETM	5.750	06/01/2032	A1		1,245,945
		TOTAL NEW JERSEY					12,462,137
NEW MEXICO - 0.89%
1,895,000		New Mexico Finance Authority	5.000	12/15/2014	Aa2		2,010,917
205,000		New Mexico Mortgage Finance Authority, ETM	6.000	07/01/2010	#Aaa		216,915
		TOTAL NEW MEXICO					2,227,832
NEW YORK - 9.84%
100,000		Dutchess County Resource Recovery Agency, AMT	5.000	01/01/2010	NR		101,275
900,000		East Rochester Housing Authority	4.125	08/15/2017	Aaa		879,219
300,000		Hudson Yards Infrastructure Corp	4.500	02/15/2047	Aaa		282,585
185,000		Lackawanna Housing Authority	5.000	09/01/2015	Aa3		190,863
195,000		Lackawanna Housing Authority	5.000	09/01/2016	Aa3		201,205
2,000,000		Long Island Power Authority	5.250	12/01/2014	A3		2,141,580
2,000,000		Metropolitan Transportation Authority	5.500	11/15/2013	Aaa		2,166,920
500,000		Metropolitan Transportation Authority Commuter, ETM	5.125	07/01/2013	Aaa		508,745
2,650,000		Metropolitan Transportation Authority, Service Contract	5.500	07/01/2016	A1		2,879,490
750,000		Metropolitan Transportation Authority, Service Contract	5.750	01/01/2018	Aaa		844,410
2,500,000		New York State Dormitory Authority	5.500	05/15/2017	Aaa		2,762,200
1,000,000		New York State Dormitory Authority	5.000	07/01/2016	Ba2		1,021,780
1,825,000		New York State Environmental Facilities Corp	5.000	03/15/2014	NR		1,922,382
2,600,000		New York State Environmental Facilities Corp	5.250	06/15/2018	Aaa		2,733,718
1,500,000		New York State Environmental Facilities Corp	5.250	06/15/2015	Aaa		1,623,315
1,000,000		New York State Environmental Facilities Corp	5.250	12/15/2018	Aa3		1,094,610
1,830,000		New York State Thruway Authority, Service Contract	5.500	04/01/2012	A1		1,945,693
1,400,000		Tobacco Settlement Financing Authority, Series 2003 B-1C	5.500	06/01/2016	A1		1,467,438
		TOTAL NEW YORK					24,767,428
NORTH CAROLINA - 0.12%
40,000		North Carolina Municipal Power Agency No 1 Catawba	6.000	01/01/2011	Aaa		42,608
250,000		North Carolina Municipal Power Agency No 1 Catawba	5.500	01/01/2015	Aaa		272,878
		TOTAL CAROLINA					315,486

409

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

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
OHIO - 4.85%
$     1,800,000		Akron Sewer System Revenue	5.000%	12/01/2017	Aaa	$	1,921,878
1,820,000		Cincinnati City School District GO	5.000	12/01/2016	Aaa		1,940,848
200,000		Dayton Senior Facilities Revenue, Emery Air	6.050	10/01/2009	NR		208,858
1,265,000		Medina County Library District GO	5.250	12/01/2019	Aaa		1,340,331
75,000	e	Ohio State Water Development Authority, ETM	6.000	12/01/2016	#Aaa		81,515
1,000,000		Olentangy Local School District	5.500	12/01/2019	Aaa		1,079,050
1,400,000		State of Ohio GO	5.000	06/15/2014	Aa1		1,476,314
1,900,000		State of Ohio GO	5.000	11/01/2016	Aa1		2,019,149
2,000,000		State of Ohio GO	5.000	05/01/2017	Aa1		2,124,260
		TOTAL OHIO					12,192,203
OREGON - 1.28%
1,850,000		Oregon State Department of Administrative Services, COP	5.250	05/01/2017	Aaa		1,944,609
1,215,000		Oregon State Department of Administrative Services, Lottery
		Revenue	5.000	04/01/2013	Aaa		1,276,686
		TOTAL OREGON					3,221,295
PENNSYLVANIA - 7.95%
1,680,000		Carbon County Hospital Authority	5.400	11/15/2014	Aaa		1,770,182
1,855,000		Carbon County IDA, Panter Creek	6.650	05/01/2010	NR		1,903,323
1,000,000		City of Philadelphia PA	5.000	08/01/2016	NR		1,061,350
900,000	h	Commonwealth of Pennsylvania	5.000	01/01/2016	Baa2		953,604
2,000,000		Commonwealth of Pennsylvania GO	5.375	07/01/2017	P-1		2,184,980
1,900,000		Delaware Valley Regional Finance Authority	5.500	07/01/2012	Aa2		2,016,261
115,000		Pennsylvania Economic Development Financing Authority,
		AMT	6.000	11/01/2011	A3		120,594
1,250,000		Pennsylvania Economic Development Financing Authority,
		AMT, Amtrak	6.500	11/01/2016	A3		1,335,075
280,000		Pennsylvania Economic Development Financing Authority,
		AMT, Amtrak	6.250	11/01/2031	A3		296,738
210,000		Pennsylvania Economic Development Financing Authority,
		AMT, Amtrak	6.375	11/01/2041	A3		223,234
1,030,000		Pennsylvania Economic Development Financing Authority,
		AMT, Amtrak	6.000	11/01/2009	A3		1,058,366
285,000		Pennsylvania Economic Development Financing Authority,
		Fayetle Thermal	5.250	12/01/2016	NR		292,755
500,000		Philadelphia Authority for Industrial Development	4.250	09/01/2019	Baa3		479,765
2,000,000		Philadelphia School District	5.000	06/01/2024	Aaa		2,122,300
600,000		Philadelphia Water & Wastewater Revenue	5.000	07/01/2015	Aaa		637,308
1,895,000		Pittsburgh GO	5.000	09/01/2013	Aaa		1,992,119
1,370,000	e	Pittsburgh Urban Redevelopment Authority, ETM	6.000	09/01/2016	#Aaa		1,542,661
		TOTAL PENNSYLVANIA					19,990,615
PUERTO RICO - 5.32%
560,000	h	Commonwealth of Puerto Rico GO	5.000	07/01/2013	Baa3		581,997
1,200,000		Commonwealth of Puerto Rico GO	5.250	07/01/2012	Baa3		1,254,528
2,015,000		Commonwealth of Puerto Rico GO	5.500	07/01/2015	Baa3		2,169,954
1,000,000		Puerto Rico Commonwealth GO	5.250	07/01/2016	Baa3		1,063,300
230,000	i	Puerto Rico Commonwealth GO, Mandatory Put 07/01/12	5.000	07/01/2030	Baa3		236,431
1,000,000		Puerto Rico Government Development Bank	5.000	12/01/2016	Baa3		1,042,630
2,300,000		Puerto Rico Highway & Transportation Authority, Series
		2005A	5.000	07/01/2014	Baa3		2,396,301

410

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

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     1,000,000		Puerto Rico Public Buildings Authority	5.500%	07/01/2013	Baa3	$	1,065,480
1,130,000	i	Puerto Rico Public Buildings Authority Revenue Mandatory
		Put 07/01/12 @ 100	5.000	07/01/2028	Baa3		1,161,595
2,290,000	i	Puerto Rico Public Finance Corp Mandatory Put 02/01/2012	5.750	08/01/2027	Ba1		2,414,759
		TOTAL PUERTO RICO					13,386,975
RHODE ISLAND - 0.43%
1,015,000		Rhode Island State & Providence Plantations, COP	5.250	10/01/2014	Aaa		1,092,018
		TOTAL RHODE ISLAND					1,092,018
SOUTH CAROLINA - 0.81%
150,000		Georgetown County, IDR	5.700	04/01/2014	baa3		158,301
385,000		Greenville County, COP, Greenville Technical College	5.000	04/01/2017	Aaa		395,172
1,400,000		Scago Educational Facilities Corp for Colleton School
		District	5.000	12/01/2016	Aaa		1,482,880
		TOTAL SOUTH CAROLINA					2,036,353
SOUTH DAKOTA - 0.45%
1,000,000		Sioux Falls Health Facilities Revenue, Pre-Refunded
		11/15/12 @ 100	6.750	11/15/2033	NR		1,128,370
		TOTAL SOUTH DAKOTA					1,128,370
TENNESSEE - 2.93%
1,000,000		City of Memphis	5.000	10/01/2015	Aaa		1,063,760
990,000		Memphis-Shelby County Airport Authority, Federal Express
		Project	5.000	09/01/2009	Baa2		1,005,701
75,000	e	Shelby County Health Educational & Housing Facilities
		Board, ETM	5.500	08/15/2019	Aaa		82,055
5,000,000		Tennessee Energy Acquisition Corp	5.000	09/01/2016	Aa3		5,231,450
		TOTAL TENNESSEE					7,382,966
TEXAS - 8.54%
1,250,000		Alliance Airport Authority, AMT	4.850	04/01/2021	Baa2		1,241,250
500,000		Brazos River Authority	5.125	11/01/2020	Aaa		516,570
490,000		Brazos River Authority, Houston Industries Project, Series
		1998-A	5.125	05/01/2019	Aaa		503,833
3,695,000		Brazos River Authority, Houston Industries Project, Series
		1998-D	4.900	10/01/2015	Aaa		3,891,759
1,390,000		Corpus Christi, Utility System Revenue, Series 2005-A	5.000	07/15/2015	Aaa		1,471,899
1,500,000		County of Harris	5.000	08/15/2016	Aaa		1,592,340
400,000		Cypress-Fairbanks Independent School District	5.000	02/15/2016	Aaa		422,904
2,000,000	h	Fort Bend Country GO	5.000	03/01/2016	Aaa		2,115,000
500,000		Guadalupe-Blanco River Authority, Western Canyon Water	5.250	04/15/2019	Aaa		526,390
35,000		Harris County Flood Control District GO	5.000	10/01/2014	Aa1		36,887
345,000		Houston Air System, ETM	5.800	07/01/2010	#Aaa		353,194
1,425,000		Houston Utility System Revenue	5.000	11/15/2014	Aaa		1,507,565
1,505,000		Lower Colorado River Authority	5.000	05/15/2017	Aaa		1,568,496
990,000		Lower Colorado River Authority, ETM	6.000	01/01/2017	Aaa		1,129,105
600,000		San Felipe Del Rio School District. ETM	5.500	08/15/2019	Aaa		627,486
2,500,000		Texas Municipal Gas Acquisition & Supply Corp I	5.250	12/15/2017	B3		2,656,950
1,240,000		Texas Public Building Authority, ETM	7.125	08/01/2011	Aaa		1,331,760
		TOTAL TEXAS					21,493,388

411

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

				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
VIRGINIA - 1.53%
$     1,700,000		Hopewell GO	5.000%	07/15/2009	A2	$	1,728,322
2,000,000		Virginia College Building Authority	5.000	09/01/2014	Aa1		2,115,620
		TOTAL VIRGINIA					3,843,942
WASHINGTON - 3.57%
125,000		Cowlitz County Public Utility District No 1	5.000	09/01/2011	Aaa		129,784
75,000	e	Cowlitz County Public Utility District No 1, ETM	5.000	09/01/2011	Aaa		77,958
1,040,000		Kings County School District No 401	5.125	12/01/2020	Aaa		1,080,342
2,925,000		Port of Seattle	5.500	09/01/2017	Aaa		3,228,937
890,000		Port of Seattle	5.000	03/01/2015	Aaa		940,926
2,000,000		State of Washington GO	5.000	07/01/2018	Aaa		2,099,320
1,000,000		Washington Economic Development Finance Authority	5.000	06/01/2016	Aaa		1,061,180
350,000		Washington Public Power Supply System Project #1, Series
		98-A	5.000	07/01/2013	Aaa		360,679
		TOTAL WASHINGTON					8,979,126
WISCONSIN - 1.68%
40,000		State of Wisconsin	6.875	06/01/2011	Aa1		42,952
1,900,000		State of Wisconsin GO	5.000	05/01/2017	Aaa		2,021,201
2,000,000		Wisconsin GO	5.250	05/01/2015	Aaa		2,151,080
		TOTAL WISCONSIN					4,215,233
		TOTAL LONG-TERM MUNICIPAL BONDS
		(Cost $248,354,878)				$	245,630,526
SHORT-TERM MUNICIPAL BONDS - 2.08%
NEW YORK - 1.28%
1,400,000	i	New York City GO	3.900	08/15/2019	Aaa		1,400,000
1,810,000	i	New York City Municipal Water Finance Authority, Series
		2003-F2	3.900	06/15/2035	Aa2		1,810,000
		TOTAL NEW YORK					3,210,000
WYOMING - 0.80%
1,050,000	i	Lincoln County IDR/PCR Exxon Project	3.910	11/01/2014	Aaa		1,050,000
970,000	i	Lincoln County IDR/PCR Exxon Project	3.910	11/01/2014	Aaa		970,000
		TOTAL WYOMING					2,020,000
		TOTAL SHORT-TERM MUNICIPAL BONDS
		(Cost $5,230,000)					5,230,000
		TOTAL PORTFOLIO - 99.72%
		(Cost $289,584,878)					250,860,526
		OTHER ASSETS AND LIABILITIES, NET -0.28%					715,970
		NET ASSETS - 100.00%				$	251,576,496

ABBREVIATION:

AMT - Alternative Minimum Tax

COP - Certificate of Participation

ETM - Escrowed to Maturity

GO - General Obligation

IDR - International Paper

NR - Not Rated

PCR - Pollution Control Revenue Bonds

412

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

+	As provided by Moody's Investors Service (unaudited).
e	The Fund has been informed that each issuer has placed direct
	obligations of the U.S. Government in an irrevocable trust, solely
	for the payment of principal and interest.
h	These securities were purchased on a delayed delivery basis.
i	Variable rate demand note (VRDN).

413

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Inflation-Linked Bond Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INFLATION-LINKED BOND FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
GOVERNMENT BONDS - 98.61%
U.S. TREASURY SECURITIES - 98.61%
$      21,551,199	k	United States Treasury Inflation Indexed Bonds	3.875%	01/15/09	$	21,895,157
15,555,365	k	United States Treasury Inflation Indexed Bonds	4.250	01/15/10		16,148,647
36,469,971	k	United States Treasury Inflation Indexed Bonds	0.875	04/15/10		34,639,908
15,422,856	k	United States Treasury Inflation Indexed Bonds	3.500	01/15/11		15,876,134
22,643,602	k	United States Treasury Inflation Indexed Bonds	2.375	04/15/11		22,403,128
8,635,059	k	United States Treasury Inflation Indexed Bonds	3.375	01/15/12		8,914,403
10,285,161	k	United States Treasury Inflation Indexed Bonds	2.000	04/15/12		9,983,395
29,806,719	k	United States Treasury Inflation Indexed Bonds	3.000	07/15/12		30,393,017
27,666,286	k	United States Treasury Inflation Indexed Bonds	1.875	07/15/13		26,538,885
28,221,468	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/14		27,127,605
25,833,374	k	United States Treasury Inflation Indexed Bonds	2.000	07/15/14		24,805,206
25,540,003	k	United States Treasury Inflation Indexed Bonds	1.625	01/15/15		23,742,498
22,177,003	k	United States Treasury Inflation Indexed Bonds	1.875	07/15/15		20,969,244
21,905,452	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/16		20,807,990
21,073,277	k	United States Treasury Inflation Indexed Bonds	2.500	07/15/16		20,857,487
19,059,041	k	United States Treasury Inflation Indexed Bonds	2.375	01/15/17		18,616,872
34,016,957	k	United States Treasury Inflation Indexed Bonds	2.375	01/15/25		32,705,944
21,993,949	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/26		19,913,982
10,068,502	k	United States Treasury Inflation Indexed Bonds	2.375	01/15/27		9,669,286
22,530,749	k	United States Treasury Inflation Indexed Bonds	3.625	04/15/28		26,118,996
25,736,964	k	United States Treasury Inflation Indexed Bonds	3.875	04/15/29		31,077,385
7,561,333	k	United States Treasury Inflation Indexed Bonds	3.375	04/15/32		8,714,891
		TOTAL U.S. TREASURY SECURITIES				471,920,060
		TOTAL GOVERNMENT BONDS				471,920,060
		(Cost $490,534,278)
SHORT-TERM INVESTMENTS - 0.47%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.47%
2,240,000		Federal Home Loan Bank (FHLB)	0.000	07/02/07		2,240,000
		TOTAL SHORT-TERM INVESTMENTS				2,240,000
		(Cost $2,239,701)
		TOTAL PORTFOLIO - 99.08%				474,160,060
		(Cost $492,773,979)
		OTHER ASSETS & LIABILITIES, NET - 0.92%				4,417,531
		NET ASSETS - 100.00%			$	478,577,591

k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the
	Consumer Price Index.

414

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MONEY MARKET FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2007
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
SHORT-TERM INVESTMENTS - 100.35%
BANK NOTES - 1.11%
$      1,286,000	JPMorgan Chase Bank NA	5.180%	07/06/07	$	1,285,080
1,906,000	JPMorgan Chase Bank NA	5.180	07/09/07		1,903,818
1,505,000	JPMorgan Chase Bank NA	5.205	08/03/07		1,497,819
2,007,000	JPMorgan Chase Bank NA	0.000	08/15/07		1,994,042
1,210,000	JPMorgan Chase Bank NA	5.160	09/04/07		1,198,727
2,572,000	JPMorgan Chase Bank NA	0.000	09/27/07		2,539,454
1,188,000	JPMorgan Chase Bank NA	0.000	10/09/07		1,170,898
1,344,000	JPMorgan Chase Bank NA	0.000	10/12/07		1,323,889
1,343,000	JPMorgan Chase Bank NA	0.000	11/02/07		1,319,173
	TOTAL BANK NOTES				14,232,900
CERTIFICATES OF DEPOSIT - 5.65%
10,000,000	Abbey National plc	5.300	08/17/07		10,000,129
5,000,000	American Express Bank FSB	5.280	07/18/07		5,000,023
5,000,000	American Express Centurion Bank	5.320	09/25/07		5,000,118
5,000,000	Barclays Bank plc	5.310	08/16/07		5,000,000
3,000,000	Barclays Bank plc	5.310	08/30/07		3,000,049
4,630,000	Calyon	5.295	08/24/07		4,630,069
10,000,000	Canadian Imperial Bank of Commerce	5.290	07/16/07		10,000,000
5,000,000	Deutsche Bank	5.315	07/17/07		5,000,022
7,000,000	Deutsche Bank	5.350	08/06/07		7,000,068
5,000,000	Deutsche Bank	5.290	08/09/07		5,000,053
5,000,000	Deutsche Bank	5.290	08/15/07		5,000,062
3,955,000	Toronto Dominion Bank	5.315	07/12/07		3,955,000
4,000,000	UBS AG.	5.310	07/11/07		4,000,005
	TOTAL CERTIFICATES OF DEPOSIT				72,585,598
COMMERCIAL PAPER - 88.40%
1,000,000	Abbey National North America LLC	0.000	08/20/07		992,954
4,000,000	Abbey National North America LLC	0.000	08/27/07		3,967,098
8,600,000	Abbey National North America LLC	0.000	09/10/07		8,511,979
5,751,000	Abbey National North America LLC	0.000	10/04/07		5,671,704
2,000,000	Alcon Capital Corp	0.000	08/24/07		1,984,370
3,750,000	American Honda Finance Corp	0.000	07/12/07		3,744,019
4,000,000	American Honda Finance Corp	0.000	07/19/07		3,989,560
3,290,000	American Honda Finance Corp	0.000	07/24/07		3,279,007
11,000,000	American Honda Finance Corp	0.000	07/30/07		10,953,834
5,000,000	American Honda Finance Corp	0.000	09/05/07		4,952,058
5,000,000	American Honda Finance Corp	0.000	09/18/07		4,942,835
2,442,000	Atlantis One Funding Corp	0.000	08/03/07		2,430,203
5,000,000	Atlantis One Funding Corp	0.000	09/17/07		4,943,125
2,000,000	Bank of America	0.000	07/20/07		1,994,511
1,300,000	Bank of America	0.000	08/28/07		1,289,151
2,300,000	Bank of America	0.000	09/21/07		2,272,740

415

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
$     1,825,000	Bank of America	0.000%	09/25/07	$	1,802,320
2,500,000	Bank of America	0.000	10/02/07		2,466,376
3,900,000	Barclays U.S. Funding Corp	0.000	07/25/07		3,886,368
3,500,000	Barclays U.S. Funding Corp	0.000	09/07/07		3,465,671
8,000,000	Beta Finance, Inc	0.000	07/17/07		7,981,369
6,660,000	Beta Finance, Inc	0.000	07/18/07		6,643,536
2,000,000	Beta Finance, Inc	0.000	08/20/07		1,985,458
5,000,000	Beta Finance, Inc	0.000	09/17/07		4,943,071
3,000,000	Beta Finance, Inc	0.000	09/24/07		2,962,742
3,000,000	Beta Finance, Inc	0.000	10/22/07		2,951,316
4,000,000	BMW US Capital Corp	0.000	07/13/07		3,993,073
4,500,000	BMW US Capital Corp	0.000	08/17/07		4,469,333
4,000,000	Canadian Imperial Holding, Inc	0.000	08/14/07		3,974,746
7,980,000	Canadian Imperial Holding, Inc	0.000	08/22/07		7,919,831
10,000,000	Canadian Imperial Holding, Inc	0.000	09/05/07		9,904,703
11,520,000	CC (USA), Inc	0.000	07/10/07		11,504,899
2,585,000	CC (USA), Inc	0.000	07/11/07		2,581,245
5,700,000	CC (USA), Inc	0.000	07/23/07		5,681,911
5,315,000	CC (USA), Inc	0.000	07/24/07		5,297,241
2,490,000	CC (USA), Inc	0.000	08/30/07		2,468,254
5,000,000	CC (USA), Inc	0.000	09/04/07		4,952,649
5,000,000	CC (USA), Inc	0.000	09/13/07		4,946,093
3,000,000	Ciesco LLC	0.000	07/11/07		2,995,583
8,000,000	Ciesco LLC	0.000	08/08/07		7,955,836
5,000,000	Ciesco LLC	0.000	09/12/07		4,946,669
7,730,000	Citigroup Funding, Inc	0.000	07/09/07		7,721,020
4,570,000	Citigroup Funding, Inc	0.000	07/12/07		4,562,683
3,635,000	Citigroup Funding, Inc	0.000	07/19/07		3,625,513
4,000,000	Citigroup Funding, Inc	0.000	08/02/07		3,981,333
3,600,000	Citigroup Funding, Inc	0.000	08/14/07		3,576,966
7,500,000	Citigroup Funding, Inc	0.000	08/23/07		7,442,252
5,500,000	Citigroup Funding, Inc	0.000	09/12/07		5,441,783
1,500,000	Citigroup Funding, Inc	0.000	09/21/07		1,482,182
5,000,000	Coca-Cola Co	0.000	07/26/07		4,981,823
2,800,000	Coca-Cola Co	0.000	08/27/07		2,777,188
5,000,000	Coca-Cola Co	0.000	10/10/07		4,927,336
8,000,000	Corporate Asset Funding Corp, Inc	0.000	07/20/07		7,977,918
5,000,000	Corporate Asset Funding Corp, Inc	0.000	07/27/07		4,981,413
5,000,000	Corporate Asset Funding Corp, Inc	0.000	08/14/07		4,969,463
3,555,000	Corporate Asset Funding Corp, Inc	0.000	08/16/07		3,531,152
10,000,000	Corporate Asset Funding Corp, Inc	0.000	09/05/07		9,904,654
6,000,000	Corporate Asset Funding Corp, Inc	0.000	09/10/07		5,937,757
5,000,000	Corporate Asset Funding Corp, Inc	0.000	09/21/07		4,940,151
3,500,000	Danske Corp	0.000	07/06/07		3,497,498
1,411,000	Danske Corp	0.000	07/17/07		1,407,720
2,830,000	Danske Corp	0.000	08/01/07		2,817,425
7,900,000	Danske Corp	0.000	08/20/07		7,843,091
7,510,000	Danske Corp	0.000	09/11/07		7,431,365
5,000,000	Danske Corp	0.000	09/13/07		4,946,453
9,500,000	Danske Corp	0.000	10/12/07		9,359,341
4,000,000	Dorada Finance, Inc	0.000	08/01/07		3,981,986
4,035,000	Dorada Finance, Inc	0.000	08/20/07		4,005,578
4,000,000	Dorada Finance, Inc	0.000	08/28/07		3,966,263

416

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
$     7,000,000	Dorada Finance, Inc	0.000%	08/31/07	$	6,937,848
3,385,000	Dorada Finance, Inc	0.000	09/12/07		3,349,135
7,000,000	Dorada Finance, Inc	0.000	09/20/07		6,917,155
3,510,000	Dresdner US Finance, Inc	0.000	09/26/07		3,465,594
4,985,000	Edison Asset Securitization LLC	0.000	07/03/07		4,983,557
5,000,000	Edison Asset Securitization LLC	0.000	07/06/07		4,996,417
2,056,000	Edison Asset Securitization LLC	0.000	07/09/07		2,053,608
5,000,000	Edison Asset Securitization LLC	0.000	07/11/07		4,992,806
5,000,000	Edison Asset Securitization LLC	0.000	08/22/07		4,962,228
3,811,000	Edison Asset Securitization LLC	0.000	08/27/07		3,779,737
2,630,000	Edison Asset Securitization LLC	0.000	09/04/07		2,605,022
5,000,000	Edison Asset Securitization LLC	0.000	09/06/07		4,951,239
1,000,000	Edison Asset Securitization LLC	0.000	12/03/07		977,568
3,640,000	Fairway Finance Corp	0.000	07/10/07		3,635,177
3,625,000	Fairway Finance Corp	0.000	07/13/07		3,618,547
3,895,000	Fairway Finance Corp	0.000	07/20/07		3,884,238
3,000,000	Fairway Finance Corp	0.000	08/22/07		2,977,120
1,412,000	Fairway Finance Corp	0.000	08/23/07		1,401,024
2,735,000	General Electric Capital Corp	0.000	07/09/07		2,731,827
9,000,000	General Electric Capital Corp	0.000	08/23/07		8,930,835
7,000,000	General Electric Capital Corp	0.000	08/29/07		6,940,715
3,961,000	General Electric Capital Corp	0.000	11/06/07		3,887,631
4,400,000	Goldman Sachs Group LP	0.000	07/27/07		4,383,428
500,000	Govco LLC	0.000	07/02/07		499,928
4,045,000	Govco LLC	0.000	07/12/07		4,038,511
7,000,000	Govco LLC	0.000	07/23/07		6,977,627
4,750,000	Govco LLC	0.000	08/15/07		4,719,284
2,500,000	Govco LLC	0.000	08/20/07		2,481,771
7,000,000	Govco LLC	0.000	08/21/07		6,948,136
3,000,000	Govco LLC	0.000	08/27/07		2,975,110
1,000,000	Govco LLC	0.000	09/07/07		990,102
3,000,000	Govco LLC	0.000	09/25/07		2,962,303
5,240,000	Govco LLC	0.000	11/26/07		5,128,196
5,000,000	Grampian Funding LLC	0.000	07/23/07		4,984,096
2,000,000	Grampian Funding LLC	0.000	08/06/07		1,989,590
3,000,000	Grampian Funding LLC	0.000	08/15/07		2,980,538
2,000,000	Grampian Funding LLC	0.000	08/17/07		1,986,383
960,000	Grampian Funding LLC	0.000	09/12/07		949,858
5,000,000	Grampian Funding LLC	0.000	09/14/07		4,945,854
5,000,000	Grampian Funding LLC	0.000	09/25/07		4,937,232
5,000,000	Grampian Funding LLC	0.000	12/14/07		4,880,322
5,000,000	Greenwich Capital Holdings, Inc	0.000	07/16/07		4,989,203
7,000,000	Greenwich Capital Holdings, Inc	0.000	07/26/07		6,974,687
5,000,000	Greenwich Capital Holdings, Inc	0.000	09/19/07		4,942,301
5,000,000	Greenwich Capital Holdings, Inc	0.000	12/13/07		4,880,833
1,500,000	Greyhawk Funding LLC	0.000	07/10/07		1,498,078
5,222,000	Greyhawk Funding LLC	0.000	08/13/07		5,189,431
3,000,000	Greyhawk Funding LLC	0.000	09/17/07		2,966,838
4,275,000	Harley-Davidson Funding Corp	0.000	07/02/07		4,274,381
2,400,000	Harley-Davidson Funding Corp	0.000	08/29/07		2,380,214
6,080,000	Harley-Davidson Funding Corp	0.000	09/13/07		6,014,637
1,855,000	Harrier Finance Funding LLC	0.000	08/24/07		1,840,308
2,700,000	HBOS Treasury Services plc	0.000	07/12/07		2,695,736

417

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
$     5,000,000	HBOS Treasury Services plc	0.000%	08/23/07	$	4,963,368
5,000,000	HBOS Treasury Services plc	0.000	09/25/07		4,937,351
10,000,000	HSBC Finance Corp	0.000	07/24/07		9,966,586
5,000,000	HSBC Finance Corp	0.000	09/14/07		4,945,417
3,000,000	ING US Funding LLC	0.000	07/12/07		2,995,210
4,000,000	ING US Funding LLC	0.000	07/25/07		3,986,040
3,000,000	ING US Funding LLC	0.000	07/27/07		2,988,679
5,000,000	ING US Funding LLC	0.000	08/02/07		4,977,027
5,000,000	ING US Funding LLC	0.000	08/03/07		4,976,075
4,130,000	ING US Funding LLC	0.000	08/16/07		4,102,717
4,000,000	ING US Funding LLC	0.000	09/13/07		3,956,998
4,115,000	Johnson & Johnson, Inc	0.000	09/24/07		4,064,477
4,000,000	JPMorgan Chase & Co	0.000	08/20/07		3,970,944
10,000,000	JPMorgan Chase & Co	0.000	09/19/07		9,883,667
2,508,000	Kitty Hawk Funding Corp	0.000	07/12/07		2,504,181
3,000,000	Kitty Hawk Funding Corp	0.000	07/19/07		2,992,170
3,870,000	Kitty Hawk Funding Corp	0.000	07/26/07		3,856,196
10,000,000	Kitty Hawk Funding Corp	0.000	08/10/07		9,941,778
11,000,000	Kitty Hawk Funding Corp	0.000	09/20/07		10,869,939
4,000,000	Links Finance LLC	0.000	08/16/07		3,973,514
6,000,000	Links Finance LLC	0.000	08/28/07		5,950,104
10,000,000	Links Finance LLC	0.000	09/18/07		9,884,572
3,000,000	McGraw-Hill, Inc	0.000	07/13/07		2,994,770
5,000,000	McGraw-Hill, Inc	0.000	10/22/07		4,918,232
1,200,000	Merrill Lynch & Co, Inc	0.000	08/31/07		1,189,485
5,550,000	Morgan Stanley	0.000	08/16/07		5,512,981
5,000,000	Morgan Stanley	0.000	08/21/07		4,963,025
3,535,000	Nestle Capital Corp	0.000	07/09/07		3,530,923
1,536,000	Nestle Capital Corp	0.000	08/01/07		1,529,109
1,000,000	Nestle Capital Corp	0.000	08/10/07		994,311
9,650,000	Nestle Capital Corp	0.000	08/13/07		9,590,178
7,406,000	Nestle Capital Corp	0.000	09/11/07		7,330,574
4,267,000	Nestle Capital Corp	0.000	09/21/07		4,216,937
2,850,000	Old Line Funding LLC	0.000	08/15/07		2,831,543
10,000,000	Old Line Funding LLC	0.000	09/06/07		9,901,919
8,000,000	Paccar Financial Corp	0.000	07/05/07		7,995,369
4,527,000	Paccar Financial Corp	0.000	07/18/07		4,515,985
4,445,000	Paccar Financial Corp	0.000	07/19/07		4,433,421
2,200,000	Paccar Financial Corp	0.000	08/01/07		2,190,111
1,200,000	Paccar Financial Corp	0.000	08/13/07		1,192,596
1,600,000	Paccar Financial Corp	0.000	08/17/07		1,589,212
1,050,000	Paccar Financial Corp	0.000	08/31/07		1,040,795
2,100,000	Paccar Financial Corp	0.000	09/12/07		2,077,644
3,645,000	Paccar Financial Corp	0.000	09/26/07		3,598,930
5,239,000	Park Avenue Receivables Corp	0.000	07/06/07		5,235,180
11,012,000	Park Avenue Receivables Corp	0.000	07/17/07		10,986,176
1,417,000	Park Avenue Receivables Corp	0.000	07/31/07		1,410,879
5,000,000	Park Avenue Receivables Corp	0.000	09/17/07		4,943,017
6,500,000	PNC Bank	0.000	09/27/07		6,418,411
3,855,000	Private Export Funding Corp	0.000	07/13/07		3,848,292
1,340,000	Private Export Funding Corp	0.000	07/31/07		1,334,204
3,000,000	Private Export Funding Corp	0.000	08/08/07		2,983,486
5,000,000	Private Export Funding Corp	0.000	09/06/07		4,951,518

418

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
$     3,435,000	Private Export Funding Corp	0.000%	09/25/07	$	3,392,077
5,000,000	Procter & Gamble International	0.000	07/24/07		4,983,325
5,000,000	Procter & Gamble International	0.000	09/06/07		4,951,425
8,000,000	Procter & Gamble International	0.000	09/07/07		7,921,271
2,000,000	Procter & Gamble International	0.000	09/14/07		1,978,250
10,000,000	Procter & Gamble International	0.000	09/20/07		9,882,853
8,000,000	Procter & Gamble International	0.000	09/26/07		7,898,887
3,629,000	Ranger Funding Co LLC	0.000	07/03/07		3,627,946
2,934,000	Ranger Funding Co LLC	0.000	07/11/07		2,929,721
4,155,000	Ranger Funding Co LLC	0.000	07/13/07		4,147,743
5,000,000	Ranger Funding Co LLC	0.000	07/25/07		4,982,517
3,000,000	Ranger Funding Co LLC	0.000	07/26/07		2,989,094
4,000,000	Ranger Funding Co LLC	0.000	07/27/07		3,984,877
5,000,000	Ranger Funding Co LLC	0.000	08/21/07		4,962,742
5,000,000	Ranger Funding Co LLC	0.000	09/10/07		4,948,278
2,676,000	Scaldis Capital LLC	0.000	07/13/07		2,671,375
3,000,000	Scaldis Capital LLC	0.000	07/16/07		2,993,375
2,000,000	Scaldis Capital LLC	0.000	07/20/07		1,994,448
3,310,000	Scaldis Capital LLC	0.000	08/14/07		3,288,720
7,000,000	Scaldis Capital LLC	0.000	08/28/07		6,941,227
2,000,000	Scaldis Capital LLC	0.000	09/11/07		1,978,960
5,000,000	Scaldis Capital LLC	0.000	09/17/07		4,943,798
2,000,000	Scaldis Capital LLC	0.000	09/25/07		1,974,869
3,325,000	Scaldis Capital LLC	0.000	10/03/07		3,279,680
3,000,000	Scaldis Capital LLC	0.000	10/23/07		2,951,804
4,666,000	Scaldis Capital LLC	0.000	10/24/07		4,588,999
9,380,000	Sedna Finance, Inc	0.000	07/05/07		9,374,576
7,000,000	Sedna Finance, Inc	0.000	07/25/07		6,976,073
4,600,000	Sedna Finance, Inc	0.000	10/11/07		4,532,418
7,400,000	Sedna Finance, Inc	0.000	11/30/07		7,237,571
5,350,000	Sheffield Receivables Corp	0.000	07/02/07		5,349,217
3,000,000	Sheffield Receivables Corp	0.000	07/13/07		2,994,720
5,000,000	Sheffield Receivables Corp	0.000	07/19/07		4,986,775
5,000,000	Sheffield Receivables Corp	0.000	09/04/07		4,952,740
4,745,000	Sigma Finance, Inc	0.000	07/16/07		4,734,680
9,000,000	Sigma Finance, Inc	0.000	08/30/07		8,922,467
4,375,000	Sigma Finance, Inc	0.000	09/19/07		4,324,206
5,000,000	Sigma Finance, Inc	0.000	11/29/07		4,890,944
1,496,000	Societe Generale North America, Inc	0.000	07/09/07		1,494,312
9,000,000	Societe Generale North America, Inc	0.000	08/06/07		8,952,975
4,900,000	Societe Generale North America, Inc	0.000	09/04/07		4,854,085
1,650,000	Societe Generale North America, Inc	0.000	09/17/07		1,631,195
4,756,000	Societe Generale North America, Inc	0.000	09/19/07		4,700,408
4,205,000	Societe Generale North America, Inc	0.000	10/01/07		4,148,798
3,950,000	Societe Generale North America, Inc	0.000	10/09/07		3,892,799
4,700,000	Societe Generale North America, Inc	0.000	11/05/07		4,613,917
5,000,000	Svensk Exportkredit AB	0.000	07/09/07		4,994,200
9,000,000	Svensk Exportkredit AB	0.000	07/10/07		8,988,278
6,565,000	Svensk Exportkredit AB	0.000	07/11/07		6,555,499
4,000,000	Svensk Exportkredit AB	0.000	07/23/07		3,987,394
5,515,000	Svensk Exportkredit AB	0.000	08/14/07		5,480,127
5,000,000	Svensk Exportkredit AB	0.000	08/15/07		4,967,437
1,000,000	Svensk Exportkredit AB	0.000	08/29/07		991,396

419

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
$     7,000,000	Toronto-Dominion Holdings USA, Inc	0.000%	08/07/07	$	6,962,445
2,385,000	Toyota Motor Credit Corp	0.000	07/05/07		2,383,623
5,000,000	Toyota Motor Credit Corp	0.000	07/18/07		4,987,675
9,000,000	Toyota Motor Credit Corp	0.000	09/14/07		8,901,937
9,500,000	Toyota Motor Credit Corp	0.000	09/24/07		9,383,137
3,000,000	UBS Finance, (Delaware), Inc	0.000	07/16/07		2,993,425
3,620,000	UBS Finance, (Delaware), Inc	0.000	07/19/07		3,610,559
1,645,000	UBS Finance, (Delaware), Inc	0.000	08/02/07		1,637,367
2,000,000	UBS Finance, (Delaware), Inc	0.000	08/06/07		1,989,620
1,365,000	UBS Finance, (Delaware), Inc	0.000	08/08/07		1,357,594
2,500,000	UBS Finance, (Delaware), Inc	0.000	08/13/07		2,484,556
1,000,000	UBS Finance, (Delaware), Inc	0.000	08/21/07		992,855
4,035,000	UBS Finance, (Delaware), Inc	0.000	08/27/07		4,001,747
1,309,000	UBS Finance, (Delaware), Inc	0.000	08/31/07		1,297,546
3,995,000	UBS Finance, (Delaware), Inc	0.000	09/04/07		3,957,059
1,680,000	UBS Finance, (Delaware), Inc	0.000	09/17/07		1,661,126
2,000,000	UBS Finance, (Delaware), Inc	0.000	10/02/07		1,972,875
2,400,000	UBS Finance, (Delaware), Inc	0.000	10/23/07		2,360,480
3,500,000	Wal-Mart Stores, Inc	0.000	07/03/07		3,498,981
8,315,000	Wal-Mart Stores, Inc	0.000	07/31/07		8,279,107
335,000	Yorktown Capital LLC	0.000	07/10/07		334,559
3,000,000	Yorktown Capital LLC	0.000	07/26/07		2,989,042
5,000,000	Yorktown Capital LLC	0.000	08/22/07		4,961,939
5,000,000	Yorktown Capital LLC	0.000	09/07/07		4,950,228
5,000,000	Yorktown Capital LLC	0.000	09/12/07		4,946,771
	TOTAL COMMERCIAL PAPER				1,136,552,636
U.S GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.49%
3,445,000	Federal National Mortgage Association (FNMA)	0.000	07/02/07		3,444,509
88,000	FNMA	0.000	07/10/07		87,887
789,000	FNMA	0.000	10/31/07		775,322
2,000,000	FNMA	0.000	12/14/07		1,953,426
	TOTAL U.S GOVERNMENT AND AGENCIES DISCOUNT NOTES				6,261,144
VARIABLE NOTES - 4.70% ( i )
12,000,000	PNC Bank NA	5.265	01/02/08		11,998,480
10,405,000	Suntrust Bank	5.273	09/27/07		10,404,865
10,000,000	Suntrust Bank	5.310	01/28/08		10,001,636
8,000,000	US Bank NA	5.290	11/30/07		8,000,150
6,000,000	US Bank NA	5.290	12/05/07		6,000,431
4,160,000	US Bank NA	5.255	02/08/08		4,159,481
9,890,000	Wells Fargo & Co	5.370	03/10/08		9,896,019
	TOTAL VARIABLE NOTES				60,461,062
	TOTAL SHORT-TERM INVESTMENTS				1,290,093,340
	(Cost $1,290,093,340)
	TOTAL PORTFOLIO - 100.35%				1,290,093,340
	(Cost $1,290,093,340)
	OTHER ASSETS & LIABILITIES, NET - (0.35)%				(4,449,612	)
	NET ASSETS - 100.00%			$	1,285,643,728

i Floating rate or variable rate securities reflects the rate at June 30, 2007.

420

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, 2007 (unaudited):

	Lifecycle 2010 Fund			Lifecycle 2015 Fund			Lifecycle 2020 Fund
	Number of	Percent of Total		Number of	Percent of Total		Number of	Percent of Total
	Shares held in	Shares outstanding		Shares held in	Shares outstanding		Shares held in	Shares outstanding
	Funds	in the Funds		Funds	in the Funds		Funds	in the Funds
TIAA-CREF Institutional Mutual Funds:
Bond Fund - Institutional Class	5,706,031	3.66	%	3,941,147	2.53	%	3,624,655	2.32	%
Growth Equity Fund - Institutional Class	4,728,201	15.01		4,087,941	12.97		4,078,377	12.94
High-Yield Fund II - Institutional Class	524,085	2.45		460,306	2.15		386,914	1.81
Inflation-Linked Bond Fund - Institutional Class	2,232,220	5.34		1,214,039	2.90		289,237	0.69
International Equity Fund - Institutional Class	1,928,943	3.84		1,682,089	3.35		1,681,030	3.34
Large-Cap Value Fund - Institutional Class	2,153,534	9.15		1,913,515	8.13		1,916,334	8.14
Real Estate Securities Fund - Institutional Class	17,450	0.11		9,536	0.06		4,408	0.03
Short-Term Bond Fund II - Institutional Class	1,137,342	7.36		475,219	3.08		108,934	0.71
Small-Cap Equity Fund - Institutional Class	419,465	4.11		378,891	3.71		350,219	3.43
	Lifecycle 2025 Fund			Lifecycle 2030 Fund			Lifecycle 2035 Fund
	Number of	Percent of Total		Number of	Percent of Total		Number of	Percent of Total
	Shares held in	Shares outstanding		Shares held in	Shares outstanding		Shares held in	Shares outstanding
	Funds	in the Funds		Funds	in the Funds		Funds	in the Funds
TIAA-CREF Institutional Mutual Funds:
Bond Fund - Institutional Class	2,401,812	1.54	%	1,271,197	0.81	%	720,822	0.46	%
Growth Equity Fund - Institutional Class	3,752,170	11.91		3,593,785	11.41		2,811,598	8.92
High-Yield Fund II - Institutional Class	284,179	1.33		248,590	1.16		190,025	0.89
Inflation-Linked Bond Fund - Institutional Class	4,180	0.01		7	0.00		2,761	0.01
International Equity Fund - Institutional Class	1,533,549	3.05		1,450,795	2.89		1,157,219	2.30
Large-Cap Value Fund - Institutional Class	1,754,555	7.46		1,667,829	7.09		1,332,723	5.66
Real Estate Securities Fund - Institutional Class	905	0.01		526	0.00		610	0.00
Short-Term Bond Fund II - Institutional Class	-	0.00		-	0.00		-	0.00
Small-Cap Equity Fund - Institutional Class	314,738	3.08		309,096	3.03		246,198	2.41
	Lifecycle 2040 Fund			All Lifecycle Funds
	Number of	Percent of Total Shares		Number of	Percent of Total Shares
	Shares held in	outstanding in the		Shares held in	outstanding in the
	Funds	Funds		Funds	Funds
TIAA-CREF Institutional Mutual Funds:
Bond Fund - Institutional Class	956,954	0.61	%	18,622,618	11.93	%
Growth Equity Fund - Institutional Class	3,752,081	11.91		26,804,153	85.07
High-Yield Fund II - Institutional Class	244,269	1.14		2,338,368	10.93
Inflation-Linked Bond Fund - Institutional Class	5,381	0.01		3,747,825	8.96
International Equity Fund - Institutional Class	1,537,761	3.06		10,971,386	21.83
Large-Cap Value Fund - Institutional Class	1,754,379	7.45		12,492,869	53.08
Real Estate Securities Fund - Institutional Class	1,538	0.01		34,973	0.22
Short-Term Bond Fund II - Institutional Class	-	0.00		1,721,495	11.15
Small-Cap Equity Fund - Institutional Class	323,308	3.17		2,341,915	22.94

1

TIAA-CREF LIFECYCLE FUNDS - 2010 Fund
TIAA-CREF LIFECYCLE FUNDS
2010 Fund
Statement of Investments (unaudited)
June 30, 2007
Shares	Company	Value
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.77%
5,706,031	TIAA-CREF Institutional Bond Fund	$	55,976,167
4,728,201	TIAA-CREF Institutional Growth Equity Fund		38,534,835
524,085	TIAA-CREF Institutional High-Yield Fund II		5,240,846
2,232,220	TIAA-CREF Institutional Inflation-Linked Bond Fund		21,920,397
1,928,943	TIAA-CREF Institutional International Equity Fund		28,181,861
2,153,534	TIAA-CREF Institutional Large-Cap Value Fund		37,686,849
17,450	TIAA-CREF Institutional Real Estate Securities Fund		255,116
1,137,342	TIAA-CREF Institutional Short-Term Bond Fund II		11,327,927
419,465	TIAA-CREF Institutional Small-Cap Equity Fund		6,950,528
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		206,074,526
	(Cost $199,141,821)
	TOTAL PORTFOLIO - 99.77%		206,074,526
	(Cost $199,141,821)
	OTHER ASSETS & LIABLITIES, NET - 0.23%		467,620
	NET ASSETS - 100.00%	$	206,542,146

2

TIAA-CREF LIFECYCLE FUNDS - 2015 Fund
TIAA-CREF LIFECYCLE FUNDS
2015 Fund
Statement of Investments (unaudited)
June 30, 2007
Shares	Company	Value
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 100.04%
3,941,147	TIAA-CREF Institutional Bond Fund	$	38,662,651
4,087,941	TIAA-CREF Institutional Growth Equity Fund		33,316,718
460,306	TIAA-CREF Institutional High-Yield Fund II		4,603,057
1,214,039	TIAA-CREF Institutional Inflation-Linked Bond Fund		11,921,867
1,682,089	TIAA-CREF Institutional International Equity Fund		24,575,323
1,913,515	TIAA-CREF Institutional Large-Cap Value Fund		33,486,507
9,536	TIAA-CREF Institutional Real Estate Securities Fund		139,410
475,219	TIAA-CREF Institutional Short-Term Bond Fund II		4,733,179
378,891	TIAA-CREF Institutional Small-Cap Equity Fund		6,278,224
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		157,716,936
	(Cost $150,703,470)
	TOTAL PORTFOLIO - 100.04%		157,716,936
	(Cost $150,703,470)
	OTHER ASSETS & LIABLITIES, NET - (0.04)%		(66,664	)
	NET ASSETS - 100.00%	$	157,650,272

3

TIAA-CREF LIFECYCLE FUNDS - 2020 Fund
TIAA-CREF LIFECYCLE FUNDS
2020 Fund
Statement of Investments (unaudited)
June 30, 2007
Shares	Company	Value
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.95%
3,624,655	TIAA-CREF Institutional Bond Fund	$	35,557,870
4,078,377	TIAA-CREF Institutional Growth Equity Fund		33,238,770
386,914	TIAA-CREF Institutional High-Yield Fund II		3,869,142
289,237	TIAA-CREF Institutional Inflation-Linked Bond Fund		2,840,310
1,681,030	TIAA-CREF Institutional International Equity Fund		24,559,849
1,916,334	TIAA-CREF Institutional Large-Cap Value Fund		33,535,847
4,408	TIAA-CREF Institutional Real Estate Securities Fund		64,451
108,934	TIAA-CREF Institutional Short-Term Bond Fund II		1,084,985
350,219	TIAA-CREF Institutional Small-Cap Equity Fund		5,803,122
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		140,554,346
	(Cost $133,775,623)
	TOTAL PORTFOLIO - 99.95%		140,554,346
	(Cost $133,775,623)
	OTHER ASSETS & LIABLITIES, NET - 0.05%		65,615
	NET ASSETS - 100.00%	$	140,619,961

4

TIAA-CREF LIFECYCLE FUNDS - 2025 Fund
TIAA-CREF LIFECYCLE FUNDS
2025 Fund
Statement of Investments (unaudited)
June 30, 2007
Shares	Company	Value
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.97%
2,401,812	TIAA-CREF Institutional Bond Fund	$	23,561,778
3,752,170	TIAA-CREF Institutional Growth Equity Fund		30,580,188
284,179	TIAA-CREF Institutional High-Yield Fund II		2,841,785
4,180	TIAA-CREF Institutional Inflation-Linked Bond Fund		41,045
1,533,549	TIAA-CREF Institutional International Equity Fund		22,405,155
1,754,555	TIAA-CREF Institutional Large-Cap Value Fund		30,704,712
905	TIAA-CREF Institutional Real Estate Securities Fund		13,237
314,738	TIAA-CREF Institutional Small-Cap Equity Fund		5,215,216
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		115,363,116
	(Cost $109,506,094)
	TOTAL PORTFOLIO - 99.97%		115,363,116
	(Cost $109,506,094)
	OTHER ASSETS & LIABLITIES, NET - 0.03%		33,777
	NET ASSETS - 100.00%	$	115,396,893

5

TIAA-CREF LIFECYCLE FUNDS - 2030 Fund
TIAA-CREF LIFECYCLE FUNDS
2030 Fund
Statement of Investments (unaudited)
June 30, 2007
Shares	Company	Value
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.96%
1,271,197	TIAA-CREF Institutional Bond Fund	$	12,470,447
3,593,785	TIAA-CREF Institutional Growth Equity Fund		29,289,344
248,590	TIAA-CREF Institutional High-Yield Fund II		2,485,905
7	TIAA-CREF Institutional Inflation-Linked Bond Fund		64
1,450,795	TIAA-CREF Institutional International Equity Fund		21,196,114
1,667,829	TIAA-CREF Institutional Large-Cap Value Fund		29,187,012
526	TIAA-CREF Institutional Real Estate Securities Fund		7,683
309,096	TIAA-CREF Institutional Small-Cap Equity Fund		5,121,729
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		99,758,298
	(Cost $93,890,529)
	TOTAL PORTFOLIO - 99.96%		99,758,298
	(Cost $93,890,529)
	OTHER ASSETS & LIABLITIES, NET - 0.04%		39,181
	NET ASSETS - 100.00%	$	99,797,479

6

TIAA-CREF LIFECYCLE FUNDS - 2035 Fund
TIAA-CREF LIFECYCLE FUNDS
2035 Fund
Statement of Investments (unaudited)
June 30, 2007
Shares	Company	Value
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.64%
720,822	TIAA-CREF Institutional Bond Fund	$	7,071,266
2,811,598	TIAA-CREF Institutional Growth Equity Fund		22,914,528
190,025	TIAA-CREF Institutional High-Yield Fund II		1,900,253
2,761	TIAA-CREF Institutional Inflation-Linked Bond Fund		27,112
1,157,219	TIAA-CREF Institutional International Equity Fund		16,906,964
1,332,723	TIAA-CREF Institutional Large-Cap Value Fund		23,322,647
610	TIAA-CREF Institutional Real Estate Securities Fund		8,924
246,198	TIAA-CREF Institutional Small-Cap Equity Fund		4,079,493
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		76,231,187
	(Cost $71,653,239)
	TOTAL PORTFOLIO - 99.64%		76,231,187
	(Cost $71,653,239)
	OTHER ASSETS & LIABLITIES, NET - 0.36%		275,700
	NET ASSETS - 100.00%	$	76,506,887

7

TIAA-CREF LIFECYCLE FUNDS - 2040 Fund
TIAA-CREF LIFECYCLE FUNDS
2040 Fund
Statement of Investments (unaudited)
June 30, 2007
Shares	Company	Value
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 99.98%
956,954	TIAA-CREF Institutional Bond Fund	$	9,387,721
3,752,081	TIAA-CREF Institutional Growth Equity Fund		30,579,458
244,269	TIAA-CREF Institutional High-Yield Fund II		2,442,693
5,381	TIAA-CREF Institutional Inflation-Linked Bond Fund		52,837
1,537,761	TIAA-CREF Institutional International Equity Fund		22,466,693
1,754,379	TIAA-CREF Institutional Large-Cap Value Fund		30,701,641
1,538	TIAA-CREF Institutional Real Estate Securities Fund		22,488
323,308	TIAA-CREF Institutional Small-Cap Equity Fund		5,357,211
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		101,010,742
	(Cost $95,078,178)
	TOTAL PORTFOLIO - 99.98%		101,010,742
	(Cost $95,078,178)
	OTHER ASSETS & LIABLITIES, NET - 0.02%		22,247
	NET ASSETS - 100.00%	$	101,032,989

8

Item 2. Controls and Procedures.

          (a) 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) 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

3(b) Section 302 certification of the principal financial officer

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 24, 2007	By:	/s/ Scott C. Evans
		Scott C. Evans
		Principal Executive Officer and 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.

Date:    August 24, 2007	By:	/s/ Scott C. Evans
		Scott C. Evans
		Principal Executive Officer and President
		(principal executive officer)
Date:    August 24, 2007	By:	/s/ Phillip G. Goff
		Phillip G. Goff
		Principal Financial Officer, Principal Accounting
		Officer and Treasurer
		(principal financial officer)

EXHIBIT LIST

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer

3(b) Section 302 certification of the principal financial officer

EX-99.CERT

Exhibit 3(a)

CERTIFICATION

I, Scott C. Evans, certify that:

1. I have reviewed this report on Form N-Q of the TIAA-CREF Institutional Mutual Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

4. The Registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date: August 24, 2007	/s/ Scott C. Evans
	Scott C. Evans
	Principal Executive Officer and President
	(principal executive officer)

EX-99.CERT

Exhibit 3(b)

CERTIFICATION

I, Phillip G. Goff, certify that:

1. I have reviewed this report on Form N-Q of the TIAA-CREF Institutional Mutual Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

4. The Registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting.

Date: August 24, 2007	/s/ Phillip G. Goff
	Phillip G. Goff
	Principal Financial Officer, Principal
	Accounting Officer and Treasurer
	(principal financial officer)