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 10017-3206
(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: December 31, 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)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.63%
AMUSEMENT AND RECREATION SERVICES - 2.74%
82,569	*	Melco PBL Entertainment Macau Ltd (ADR)	$	954,498
17,300		Nintendo Co Ltd		10,360,023
		TOTAL AMUSEMENT AND RECREATION SERVICES		11,314,521
APPAREL AND ACCESSORY STORES - 1.33%
27,300		Abercrombie & Fitch Co (Class A)		2,183,181
89,390	e*	Nordstrom, Inc		3,283,295
		TOTAL APPAREL AND ACCESSORY STORES		5,466,476
BUSINESS SERVICES - 16.72%
110,277	*	Adobe Systems, Inc		4,712,136
59,624	*	DST Systems, Inc		4,921,961
65,690	*	Electronic Arts, Inc		3,836,953
71,328	*	Fiserv, Inc		3,957,991
19,223	*	Google, Inc (Class A)		13,292,320
226,010	*	Intuit, Inc		7,144,176
18,305	e*	Mastercard, Inc (Class A)		3,939,236
194,311		Omnicom Group, Inc		9,235,602
292,914	*	Oracle Corp		6,613,998
186,582	*	Yahoo!, Inc		4,339,897
209,824	*	eBay, Inc		6,964,059
		TOTAL BUSINESS SERVICES		68,958,329
CHEMICALS AND ALLIED PRODUCTS - 17.89%
46,608		Air Products & Chemicals, Inc		4,596,947
16,172	e*	Biogen Idec, Inc		920,510
102,521		Colgate-Palmolive Co		7,992,537
88,566	*	Genentech, Inc		5,940,122
162,645	*	Gilead Sciences, Inc		7,483,296
101,713		Merck & Co, Inc		5,910,542
132,094		Monsanto Co		14,753,579
29,208	*	Mosaic Co		2,755,483
159,716	*	Mylan Laboratories, Inc		2,245,607
57,214		Novartis AG. (ADR)		3,107,292
46,408	e*	Praxair, Inc		4,116,854
234,986		Schering-Plough Corp		6,260,027
166,128		Teva Pharmaceutical Industries Ltd (ADR)		7,721,629
		TOTAL CHEMICALS AND ALLIED PRODUCTS		73,804,425
COAL MINING - 0.56%
46,853		Sasol Ltd (ADR)		2,317,818
		TOTAL COAL MINING		2,317,818
COMMUNICATIONS - 0.73%
72,343	e*	AT&T, Inc		3,006,575
		TOTAL COMMUNICATIONS		3,006,575

1

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
DEPOSITORY INSTITUTIONS - 2.12%
39,667	e*	State Street Corp	$	3,220,960
226,581		Western Union Co		5,501,387
		TOTAL DEPOSITORY INSTITUTIONS		8,722,347
EATING AND DRINKING PLACES - 0.92%
64,570		McDonald's Corp		3,803,819
		TOTAL EATING AND DRINKING PLACES		3,803,819
ELECTRIC, GAS, AND SANITARY SERVICES - 1.06%
64,339		FPL Group, Inc		4,360,897
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		4,360,897
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 10.71%
139,556	*	Renewable Energy Corp A.S.		7,093,650
42,658	*	Apple Computer, Inc		8,449,697
344,770	*	Cisco Systems, Inc		9,332,924
334,169	e*	Intel Corp		8,908,946
53,976	e*	Maxim Integrated Products, Inc		1,429,284
118,908		Qualcomm, Inc		4,679,030
37,795	*	Research In Motion Ltd		4,285,953
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		44,179,484
ENGINEERING AND MANAGEMENT SERVICES - 0.95%
84,622	*	Celgene Corp		3,910,383
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,910,383
FABRICATED METAL PRODUCTS - 0.90%
69,140		Illinois Tool Works, Inc		3,701,756
		TOTAL FABRICATED METAL PRODUCTS		3,701,756
FOOD AND KINDRED PRODUCTS - 0.88%
7,929		Nestle S.A.		3,641,814
		TOTAL FOOD AND KINDRED PRODUCTS		3,641,814
GENERAL BUILDING CONTRACTORS - 0.34%
51,247		Ryland Group, Inc		1,411,855
		TOTAL GENERAL BUILDING CONTRACTORS		1,411,855
GENERAL MERCHANDISE STORES - 2.44%
214,617		TJX Cos, Inc		6,165,946
82,081		Wal-Mart Stores, Inc		3,901,310
		TOTAL GENERAL MERCHANDISE STORES		10,067,256
HOLDING AND OTHER INVESTMENT OFFICES - 1.22%
82,700		iShares Russell 1000 Growth Index Fund		5,026,506
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		5,026,506
HOTELS AND OTHER LODGING PLACES - 1.30%
63,931	e*	MGM Mirage		5,371,483
		TOTAL HOTELS AND OTHER LODGING PLACES		5,371,483

2

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.69%
30,625		Deere & Co	$	2,851,800
117,322		Hewlett-Packard Co		5,922,415
146,857	e*	International Game Technology		6,451,428
2,400	m,v*	Seagate Technology, Inc		(0)
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		15,225,643
INSTRUMENTS AND RELATED PRODUCTS - 6.92%
53,641	*	Agilent Technologies, Inc		1,970,770
26,836		Alcon, Inc		3,838,621
188,122		Emerson Electric Co		10,658,992
76,242	e*	Flir Systems, Inc		2,386,375
25,171	*	Hologic, Inc		1,727,737
57,326		Johnson & Johnson		3,823,644
52,575	*	Waters Corp		4,157,105
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		28,563,244
INSURANCE CARRIERS - 2.43%
37,933		Aetna, Inc		2,189,872
124,747		Aflac, Inc		7,812,905
		TOTAL INSURANCE CARRIERS		10,002,777
MISCELLANEOUS RETAIL - 4.73%
29,087	e*	Amazon.com, Inc		2,694,620
337,704		CVS Corp		13,423,734
73,656	e*	Tiffany & Co		3,390,386
		TOTAL MISCELLANEOUS RETAIL		19,508,740
MOTION PICTURES - 0.80%
161,401		News Corp (Class A)		3,307,106
		TOTAL MOTION PICTURES		3,307,106
NONDEPOSITORY INSTITUTIONS - 0.89%
51,558		Textron, Inc		3,676,085
		TOTAL NONDEPOSITORY INSTITUTIONS		3,676,085
OIL AND GAS EXTRACTION - 4.67%
113,854	*	Denbury Resources, Inc		3,387,157
38,664	*	National Oilwell Varco, Inc		2,840,257
86,082		Saipem S.p.A.		3,452,236
62,619		Schlumberger Ltd		6,159,831
66,612		XTO Energy, Inc		3,421,192
		TOTAL OIL AND GAS EXTRACTION		19,260,673
PAPER AND ALLIED PRODUCTS - 0.85%
57,016		Anglo American plc		3,495,679
		TOTAL PAPER AND ALLIED PRODUCTS		3,495,679
PETROLEUM AND COAL PRODUCTS - 2.02%
42,398		Devon Energy Corp		3,769,606
41,935	*	Suncor Energy, Inc		4,559,593
		TOTAL PETROLEUM AND COAL PRODUCTS		8,329,199

3

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 6.29%
15,161		CME Group, Inc	$	10,400,446
312,641		Charles Schwab Corp		7,987,978
26,443		Deutsche Boerse AG.		5,248,230
12,055	*	IntercontinentalExchange, Inc		2,320,588
		TOTAL SECURITY AND COMMODITY BROKERS		25,957,242
TRANSPORTATION EQUIPMENT - 1.34%
29,275	*	BE Aerospace, Inc		1,548,647
45,420		Boeing Co		3,972,433
		TOTAL TRANSPORTATION EQUIPMENT		5,521,080
WATER TRANSPORTATION - 1.19%
115,938	e*	Royal Caribbean Cruises Ltd		4,920,409
		TOTAL WATER TRANSPORTATION		4,920,409
		TOTAL COMMON STOCKS		406,833,621
		(Cost $364,992,337)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 1.54%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.54%
$      6,370,000		Federal Home Loan Bank Discount Notes 0.000%, 01/02/08		6,370,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		6,370,000
		TOTAL SHORT-TERM INVESTMENTS		6,370,000
		(Cost $6,369,425)
		TOTAL PORTFOLIO - 100.17%		413,203,621
		(Cost $371,361,762)
		OTHER ASSETS & LIABILITIES, NET - (0.17)%		(701,702	)
		NET ASSETS - 100.00%	$	412,501,919
		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.
		At December 31, 2007, the unrealized appreciation on investments was $41,841,859, consisting of
		gross unrealized appreciation of $48,484,630 and gross unrealized depreciation of $6,642,771.

4

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
GROWTH & INCOME FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.59%
AMUSEMENT AND RECREATION SERVICES - 2.84%
250,060	*	Activision, Inc	$	7,426,782
174,784	*	Melco PBL Entertainment Macau Ltd (ADR)		2,020,503
13,680		Nintendo Co Ltd		8,192,203
173,156		Walt Disney Co		5,589,476
151,101	e*	WMS Industries, Inc		5,536,341
		TOTAL AMUSEMENT AND RECREATION SERVICES		28,765,305
APPAREL AND ACCESSORY STORES - 0.92%
193,571		Gap, Inc		4,119,191
107,591	e*	J Crew Group, Inc		5,186,962
		TOTAL APPAREL AND ACCESSORY STORES		9,306,153
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.32%
121,741		Home Depot, Inc		3,279,703
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		3,279,703
BUSINESS SERVICES - 6.91%
137,151	*	Adobe Systems, Inc		5,860,462
223,664	e*	BEA Systems, Inc		3,529,418
53,612		Ctrip.com International Ltd (ADR)		3,081,082
152,914	*	eBay, Inc		5,075,216
20,187	*	Google, Inc (Class A)		13,958,907
14,486	e	Mastercard, Inc (Class A)		3,117,387
727,819		Microsoft Corp		25,910,356
57,888	e*	NetSuite, Inc		2,268,052
181,179	*	Oracle Corp		4,091,022
12,359	e*	VMware, Inc (Class A)		1,050,391
92,685	*	Yahoo!, Inc		2,155,853
		TOTAL BUSINESS SERVICES		70,098,146
CHEMICALS AND ALLIED PRODUCTS - 12.87%
135,882		Abbott Laboratories		7,629,774
61,405		Air Products & Chemicals, Inc		6,056,375
73,186	*	Celgene Corp		3,381,925
83,851	*	Chattem, Inc		6,334,105
102,297		Colgate-Palmolive Co		7,975,074
68,295		Du Pont (E.I.) de Nemours & Co		3,011,127
151,512	*	Elan Corp plc (ADR)		3,330,234
77,545	*	Genentech, Inc		5,200,943
74,054	*	Genzyme Corp		5,512,580
212,191	*	Gilead Sciences, Inc		9,762,908
343,873		Merck & Co, Inc		19,982,460
98,415		Monsanto Co		10,991,971
75,629	*	Mosaic Co		7,134,840
275,165	*	Mylan Laboratories, Inc		3,868,820

5

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
56,387		Praxair, Inc	$	5,002,091
180,461		Procter & Gamble Co		13,249,447
330,609		Schering-Plough Corp		8,807,424
89,232	*	Uralkali (GDR)		3,323,892
		TOTAL CHEMICALS AND ALLIED PRODUCTS		130,555,990
COMMUNICATIONS - 2.92%
47,515		America Movil S.A. de C.V. (ADR) (Series L)		2,916,946
480,586		AT&T, Inc		19,973,154
153,762		Verizon Communications, Inc		6,717,862
		TOTAL COMMUNICATIONS		29,607,962
DEPOSITORY INSTITUTIONS - 6.56%
217,207		Bank of America Corp		8,961,961
295,071		Citigroup, Inc		8,686,890
333,375		JPMorgan Chase & Co		14,551,819
144,317		Northern Trust Corp		11,051,796
91,874		SunTrust Banks, Inc		5,741,206
252,541		US Bancorp		8,015,651
316,016		Wells Fargo & Co		9,540,523
		TOTAL DEPOSITORY INSTITUTIONS		66,549,846
EATING AND DRINKING PLACES - 1.46%
24,104	e*	Chipotle Mexican Grill, Inc (Class A)		3,544,975
89,289		Darden Restaurants, Inc		2,474,198
149,734		McDonald's Corp		8,820,830
		TOTAL EATING AND DRINKING PLACES		14,840,003
ELECTRIC, GAS, AND SANITARY SERVICES - 3.41%
150,997	*	AES Corp		3,229,826
91,502		Constellation Energy Group, Inc		9,381,700
139,245	e	DPL, Inc		4,128,614
120,196		FPL Group, Inc		8,146,885
73,328	e*	NRG Energy, Inc		3,178,035
52,545		PG&E Corp		2,264,164
78,868		Questar Corp		4,266,759
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		34,595,983
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 10.35%
82,829	*	Apple Computer, Inc		16,406,768
740,922	*	Cisco Systems, Inc		20,056,759
121,999	*	DynCorp International, Inc (Class A)		3,279,333
23,663	e*	First Solar, Inc		6,321,334
100,884		Gamesa Corp Tecnologica S.A.		4,716,969
160,046		Honeywell International, Inc		9,854,032
644,595		Intel Corp		17,184,903
57,145		L-3 Communications Holdings, Inc		6,053,941
257,984	*	Marvell Technology Group Ltd		3,606,616
202,131	*	Nvidia Corp		6,876,497
180,655		Qualcomm, Inc		7,108,774
31,259	*	Research In Motion Ltd		3,544,771
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		105,010,697

6

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
FOOD AND KINDRED PRODUCTS - 4.13%
186,382		Coca-Cola Co	$	11,438,263
111,374		General Mills, Inc		6,348,318
118,241		Kraft Foods, Inc (Class A)		3,858,204
203,893		PepsiCo, Inc		15,475,479
127,093		Unilever plc		4,781,537
		TOTAL FOOD AND KINDRED PRODUCTS		41,901,801
FOOD STORES - 0.20%
48,441	e	Whole Foods Market, Inc		1,976,393
		TOTAL FOOD STORES		1,976,393
GENERAL BUILDING CONTRACTORS - 0.30%
180,149		Amec plc		3,006,900
		TOTAL GENERAL BUILDING CONTRACTORS		3,006,900
GENERAL MERCHANDISE STORES - 1.65%
79,229		Target Corp		3,961,450
210,029		TJX Cos, Inc		6,034,133
141,856		Wal-Mart Stores, Inc		6,742,416
		TOTAL GENERAL MERCHANDISE STORES		16,737,999
HEALTH SERVICES - 0.90%
90,433	*	Medco Health Solutions, Inc		9,169,906
		TOTAL HEALTH SERVICES		9,169,906
HOLDING AND OTHER INVESTMENT OFFICES - 1.54%
16,501		AvalonBay Communities, Inc		1,553,404
95,880		SPDR Trust Series 1		14,018,615
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		15,572,019
HOTELS AND OTHER LODGING PLACES - 0.30%
38,407		Accor S.A.		3,071,567
		TOTAL HOTELS AND OTHER LODGING PLACES		3,071,567
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.88%
30,849		Alstom RGPT		6,630,110
121,046		Deere & Co		11,271,804
690,391		General Electric Co		25,592,794
355,816		Hewlett-Packard Co		17,961,592
76,713		International Business Machines Corp		8,292,675
7,400	m,v*	Seagate Technology, Inc		-
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		69,748,975
INSTRUMENTS AND RELATED PRODUCTS - 5.14%
67,851	*	Agilent Technologies, Inc		2,492,846
76,778		Covidien Ltd		3,400,498
222,782		Emerson Electric Co		12,622,828
104,537	*	Hologic, Inc		7,175,420
288,700		Johnson & Johnson		19,256,290
83,553		Medtronic, Inc		4,200,209
69,839		Mindray Medical International Ltd (ADR)		3,000,982
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		52,149,073

7

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
INSURANCE AGENTS, BROKERS AND SERVICE - 0.38%
44,443		Hartford Financial Services Group, Inc	$	3,874,985
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		3,874,985
INSURANCE CARRIERS - 4.28%
165,335	e	ACE Ltd		10,214,396
128,218		Aetna, Inc		7,402,025
154,220		Aflac, Inc		9,658,799
215,348		American International Group, Inc		12,554,788
52,818		Assurant, Inc		3,533,524
		TOTAL INSURANCE CARRIERS		43,363,532
MISCELLANEOUS RETAIL - 0.60%
59,408	e	Best Buy Co, Inc		3,127,831
64,874		Tiffany & Co		2,986,150
		TOTAL MISCELLANEOUS RETAIL		6,113,981
MOTION PICTURES - 1.63%
193,017	*	Discovery Holding Co (Class A)		4,852,447
139,038	*	DreamWorks Animation SKG, Inc (Class A)		3,551,031
184,354	*	Viacom, Inc (Class B)		8,096,828
		TOTAL MOTION PICTURES		16,500,306
NONDEPOSITORY INSTITUTIONS - 1.48%
106,971		American Express Co		5,564,631
236,124		Fannie Mae		9,440,238
		TOTAL NONDEPOSITORY INSTITUTIONS		15,004,869
OIL AND GAS EXTRACTION - 3.52%
45,566		Baker Hughes, Inc		3,695,403
147,740	*	Cameron International Corp		7,110,726
155,224		Schlumberger Ltd		15,269,385
87,010		Smith International, Inc		6,425,688
45,904	*	Weatherford International Ltd		3,149,014
		TOTAL OIL AND GAS EXTRACTION		35,650,216
PAPER AND ALLIED PRODUCTS - 0.65%
107,217		Anglo American plc		6,573,527
		TOTAL PAPER AND ALLIED PRODUCTS		6,573,527
PETROLEUM AND COAL PRODUCTS - 6.65%
115,399		Cabot Oil & Gas Corp		4,658,658
136,119		Devon Energy Corp		12,102,340
421,974		Exxon Mobil Corp		39,534,744
124,651		Marathon Oil Corp		7,586,260
31,150		Petroleo Brasileiro S.A. (ADR)		3,589,726
		TOTAL PETROLEUM AND COAL PRODUCTS		67,471,728
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.77%
85,761		Bayer AG.		7,840,443
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		7,840,443
SECURITY AND COMMODITY BROKERS - 2.96%
38,177	e	AllianceBernstein Holding LP		2,872,819
43,620		Bear Stearns Cos, Inc		3,849,465

8

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
10,724		Deutsche Boerse AG.	$	2,128,428
149,009		Lazard Ltd (Class A)		6,061,686
86,832		Lehman Brothers Holdings, Inc		5,682,286
178,088		Morgan Stanley		9,458,254
		TOTAL SECURITY AND COMMODITY BROKERS		30,052,938
STONE, CLAY, AND GLASS PRODUCTS - 0.34%
41,258		3M Co		3,478,875
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		3,478,875
TOBACCO PRODUCTS - 2.61%
350,644		Altria Group, Inc		26,501,673
		TOTAL TOBACCO PRODUCTS		26,501,673
TRANSPORTATION EQUIPMENT - 3.65%
149,740		Boeing Co		13,096,260
77,489		Harsco Corp		4,964,720
106,030		ITT Industries, Inc		7,002,221
117,429		Raytheon Co		7,127,940
63,244		United Technologies Corp		4,840,696
		TOTAL TRANSPORTATION EQUIPMENT		37,031,837
WATER TRANSPORTATION - 0.14%
39,189	e	K-Sea Transportation Partners LP		1,406,493
		TOTAL WATER TRANSPORTATION		1,406,493
WHOLESALE TRADE-NONDURABLE GOODS - 0.33%
59,340		Gazprom (ADR)		3,364,578
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		3,364,578
		TOTAL COMMON STOCKS		1,010,174,402
		(Cost $811,596,160)
SHORT-TERM INVESTMENTS - 0.93%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.56%
$       5,650,000		Federal Home Loan Bank (FHLB), 01/02/08		5,650,000
				5,650,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.37%
3,762,363		State Street Navigator Securities Lending Prime Portfolio		3,762,363
				3,762,363
		TOTAL SHORT-TERM INVESTMENTS		9,412,363
		(Cost $9,411,853)
		TOTAL PORTFOLIO - 100.52%		1,019,586,765
		(Cost $821,008,013)
		OTHER ASSETS & LIABILITIES, NET - (0.52)%		(5,311,202	)
		NET ASSETS - 100.00%	$	1,014,275,563

9

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund

*	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.
	At December 31, 2007, the unrealized appreciation on investments was $198,578,752, consisting of
	gross unrealized appreciation of $218,901,358 and gross unrealized depreciation of $20,322,606.

10

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INTERNATIONAL EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 97.96%
AMUSEMENT AND RECREATION SERVICES - 0.52%
24,300		Nintendo Co Ltd	$	14,551,940
		TOTAL AMUSEMENT AND RECREATION SERVICES		14,551,940
AUTO REPAIR, SERVICES AND PARKING - 0.35%
461,100		NOK Corp		9,802,735
		TOTAL AUTO REPAIR, SERVICES AND PARKING		9,802,735
BUSINESS SERVICES - 1.47%
355,640		Adecco S.A.		19,240,339
154		NTT Data Corp		685,118
1,659,710		WPP Group plc		21,375,754
		TOTAL BUSINESS SERVICES		41,301,211
CHEMICALS AND ALLIED PRODUCTS - 9.30%
4,979,832	*	Dabur India Ltd		14,428,436
37,000		Mitsui & Co Ltd		783,288
1,007,293		Reckitt Benckiser Group plc		58,429,250
22,846		Shin-Etsu Chemical Co Ltd		1,435,608
93,708,000	e	Sinochem Hong Kong Holding Ltd		87,489,963
952,247		SSL International plc		10,141,177
111,246		Syngenta AG.		28,348,250
1,186,313	*	Uralkali (GDR)		44,190,159
415,800	g,v*	Uralkali (GDR)		15,488,550
		TOTAL CHEMICALS AND ALLIED PRODUCTS		260,734,681
COMMUNICATIONS - 0.34%
197		Nippon Telegraph & Telephone Corp		985,749
446		NTT DoCoMo, Inc		742,568
139,816		Royal KPN NV		2,542,964
125,000		Singapore Telecommunications Ltd		347,355
1,283,493		Vodafone Group plc		4,798,152
		TOTAL COMMUNICATIONS		9,416,788
DEPOSITORY INSTITUTIONS - 6.74%
32,633		Australia & New Zealand Banking Group Ltd		786,821
22,725		Commonwealth Bank of Australia		1,179,260
20,305		DBS Group Holdings Ltd		291,996
181,270	e,m*	Fortis		2,650
323,341		Julius Baer Holding AG.		26,732,074
328,147		Kookmin Bank		24,189,032
1,473		Mizuho Financial Group. Inc		7,040,970
29,201		National Australia Bank Ltd		968,931
46,000		Oversea-Chinese Banking Corp		264,921
28,547		Societe Generale		4,129,062
302	e	Sumitomo Mitsui Financial Group, Inc		2,262,668

11

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
2,590,099		UBS A.G.	$	119,879,157
20,000		United Overseas Bank Ltd		276,494
32,547		Westpac Banking Corp		797,893
		TOTAL DEPOSITORY INSTITUTIONS		188,801,929
ELECTRIC, GAS, AND SANITARY SERVICES - 7.24%
15,900		Chubu Electric Power Co, Inc		414,882
1,879,498		Fortum Oyj		84,663,557
18,400		Kansai Electric Power Co, Inc		429,056
282,970		Reliance Energy Ltd		15,330,922
681,609		RWE AG.		95,668,617
246,100		Tokyo Electric Power Co, Inc		6,366,459
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		202,873,493
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.26%
264,780		Hoya Corp		8,437,692
11,630		Kyocera Corp		1,031,673
47,000		Matsushita Electric Industrial Co Ltd		973,952
3,000		Murata Manufacturing Co Ltd		174,014
331,700		TDK Corp		24,703,433
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		35,320,764
ENGINEERING AND MANAGEMENT SERVICES - 0.50%
235,328		Tecan Group AG.		14,134,438
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		14,134,438
FOOD AND KINDRED PRODUCTS - 2.65%
827,405		Groupe Danone		74,276,163
		TOTAL FOOD AND KINDRED PRODUCTS		74,276,163
FOOD STORES - 3.91%
1,392,394		Carrefour S.A.		108,485,279
34,399		Woolworths Ltd		1,026,633
		TOTAL FOOD STORES		109,511,912
HEAVY CONSTRUCTION, EXCEPT BUILDING - 2.86%
1,081,912	e	Vinci S.A.		80,118,781
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		80,118,781
HOLDING AND OTHER INVESTMENT OFFICES - 4.31%
714,824		Ashmore Group plc		3,827,686
4,266,000		China Merchants Holdings International Co Ltd		26,534,614
523		GPT Group		1,855
3,413,000		Japan Asia Investment Co Ltd		19,888,672
13,400		JFE Holdings, Inc		678,906
6,159,014		Man Group plc		69,760,311
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		120,692,044
HOTELS AND OTHER LODGING PLACES - 4.11%
1,441,470		Accor S.A.		115,280,508
		TOTAL HOTELS AND OTHER LODGING PLACES		115,280,508
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.27%
52,650		Canon, Inc		2,450,700

12

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
28,120		FUJIFILM Holdings Corp	$	1,190,597
598,606	*	GEA Group AG.		20,829,602
62,880		Komatsu Ltd		1,711,097
673,338		Krones AG.		54,135,206
63,200	e	Modec, Inc		1,683,033
118,921		Rheinmetall AG.		9,454,982
37,900		Sumitomo Heavy Industries Ltd		349,434
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		91,804,651
INSTRUMENTS AND RELATED PRODUCTS - 3.91%
969,663		Phonak Holding AG.		109,543,698
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		109,543,698
METAL MINING - 2.34%
61,804		BHP Billiton Ltd		2,178,272
229,760		MMC Norilsk Nickel (ADR)		62,207,520
7,942	v	Polyus Gold (ADR)		374,862
8,281	e	Rio Tinto Ltd		973,966
		TOTAL METAL MINING		65,734,620
MISCELLANEOUS RETAIL - 3.02%
7,437,000		Hutchison Whampoa Ltd		84,361,794
51,717		Origin Energy Ltd		401,879
		TOTAL MISCELLANEOUS RETAIL		84,763,673
NONDEPOSITORY INSTITUTIONS - 0.41%
1,234,240		Tullett Prebon plc		11,528,926
		TOTAL NONDEPOSITORY INSTITUTIONS		11,528,926
OIL AND GAS EXTRACTION - 1.07%
728,721		Saipem S.p.A.		29,224,698
16,164		Woodside Petroleum Ltd		715,174
		TOTAL OIL AND GAS EXTRACTION		29,939,872
PETROLEUM AND COAL PRODUCTS - 0.97%
1,171,590		BP plc		14,342,859
72,524		ENI S.p.A.		2,656,149
222,293		Royal Dutch Shell plc (A Shares)		9,341,120
10,094		Total S.A.		838,695
		TOTAL PETROLEUM AND COAL PRODUCTS		27,178,823
PRIMARY METAL INDUSTRIES - 0.74%
249,400		Nippon Steel Corp		1,544,867
98,000		Sumitomo Metal Industries Ltd		455,284
1,616,160		Welspun-Gujarat Stahl Ltd		18,726,380
		TOTAL PRIMARY METAL INDUSTRIES		20,726,531
RAILROAD TRANSPORTATION - 1.14%
189		East Japan Railway Co		1,559,844
1,874,167		Firstgroup plc		30,405,409
		TOTAL RAILROAD TRANSPORTATION		31,965,253
REAL ESTATE - 2.51%
18		City Developments Ltd		178

13

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
34,406		ORIX Corp	$	5,879,341
6,388	e	Risa Partners, Inc		14,066,580
3,731,800		Urban Corp		49,939,945
24,825		Westfield Group		457,748
		TOTAL REAL ESTATE		70,343,792
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 9.55%
2,926,591		Bayer AG.		267,555,207
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		267,555,207
SECURITY AND COMMODITY BROKERS - 0.02%
42,200		Nomura Holdings, Inc		715,830
		TOTAL SECURITY AND COMMODITY BROKERS		715,830
STONE, CLAY, AND GLASS PRODUCTS - 3.89%
78,601		Holcim Ltd		8,421,412
19,694,000		Nippon Sheet Glass Co Ltd		100,660,377
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		109,081,789
TOBACCO PRODUCTS - 3.04%
93,522		British American Tobacco plc		3,658,148
78,750,919		Huabao International Holdings Ltd		78,777,178
449		Japan Tobacco, Inc		2,684,796
		TOTAL TOBACCO PRODUCTS		85,120,122
TRANSPORTATION BY AIR - 0.06%
55,247		SABMiller plc		1,557,245
		TOTAL TRANSPORTATION BY AIR		1,557,245
TRANSPORTATION EQUIPMENT - 8.60%
16,660		Denso Corp		683,013
3,649,122		Fiat S.p.A.		94,433,176
885,015		Siemens AG.		140,858,127
93,060		Toyota Motor Corp		5,031,396
		TOTAL TRANSPORTATION EQUIPMENT		241,005,712
TRUCKING AND WAREHOUSING - 7.04%
5,737,557		Deutsche Post AG.		197,216,201
		TOTAL TRUCKING AND WAREHOUSING		197,216,201
WATER TRANSPORTATION - 0.27%
2,561,000	*	DP World Ltd		3,124,420
941	*	Euro-Kai KGaA		132,764
48,400	*	Hamburger Hafen und Logistik AG.		4,316,564
		TOTAL WATER TRANSPORTATION		7,573,748
WHOLESALE TRADE-DURABLE GOODS - 0.55%
351,874		Kloeckner & Co AG.		14,147,601
32,610		Mitsubishi Corp		893,225
25,650		Sumitomo Corp		364,379
		TOTAL WHOLESALE TRADE-DURABLE GOODS		15,405,205
		TOTAL COMMON STOCKS		2,745,578,285
		(Cost $2,505,061,003)

14

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
				VALUE
SHORT-TERM INVESTMENTS - 4.00%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.83%
$       51,295,000		Federal Home Loan Bank (FHLB), 01/02/08	$	51,295,000
				51,295,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.17%
60,756,556		State Street Navigator Securities Lending Prime Portfolio		60,756,556
				60,756,556
		TOTAL SHORT-TERM INVESTMENTS		112,051,556
		(Cost $121,293,863)
		TOTAL PORTFOLIO - 101.96%		2,857,629,841
		(Cost $2,626,354,866)
		OTHER ASSETS & LIABILITIES, NET - (1.96)%		(54,877,636	)
		NET ASSETS - 100.00%	$	2,802,752,205
		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
		transactions exempt from registration to qualified institutional buyers.
		At December 31, 2007, the value of these securities amounted to $15,488,550 or 0.55% of net assets.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.
		At December 31, 2007, the unrealized appreciation on investments was $231,274,974, consisting of
		gross unrealized appreciation of $296,161,424 and gross unrealized depreciation of $64,886,450.

15

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SUMMARY OF MARKET VALUES BY COUNTRY
INTERNATIONAL EQUITY FUND (unaudited)
December 31, 2007
			% OF
			MARKET
COUNTRY	VALUE		VALUE
DOMESTIC
UNITED STATES OF AMERICA	$	51,295,000	1.83	%
TOTAL DOMESTIC		51,295,000	1.83
FOREIGN
AUSTRALIA		9,488,431	0.34
BELGIUM		2,650	0.00
FINLAND		84,663,557	3.03
FRANCE		383,128,488	13.70
GERMANY		804,314,871	28.76
HONG KONG		277,163,549	9.91
INDIA		48,485,738	1.73
ITALY		126,314,023	4.52
JAPAN		293,253,122	10.49
NETHERLANDS		2,542,964	0.09
RUSSIA		122,261,092	4.37
SINGAPORE		1,180,944	0.04
SOUTH KOREA		24,189,032	0.86
SWITZERLAND		326,299,368	11.67
UNITED ARAB EMIRATES		3,124,420	0.11
UNITED KINGDOM		239,166,036	8.55
TOTAL FOREIGN		2,745,578,285	98.17
TOTAL PORTFOLIO	$	2,796,873,285	100.00	%

16

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP GROWTH FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.65%
AMUSEMENT AND RECREATION SERVICES - 2.79%
140,674	*	Melco PBL Entertainment Macau Ltd (ADR)	$	1,626,191
29,400		Nintendo Co Ltd		17,606,051
		TOTAL AMUSEMENT AND RECREATION SERVICES		19,232,242
APPAREL AND ACCESSORY STORES - 1.35%
46,368	e	Abercrombie & Fitch Co (Class A)		3,708,049
152,474	e	Nordstrom, Inc		5,600,370
		TOTAL APPAREL AND ACCESSORY STORES		9,308,419
BUSINESS SERVICES - 17.06%
187,933	*	Adobe Systems, Inc		8,030,377
101,635	e*	DST Systems, Inc		8,389,969
357,538	*	eBay, Inc		11,866,686
112,212	*	Electronic Arts, Inc		6,554,303
121,803	e*	Fiserv, Inc		6,758,848
32,851	*	Google, Inc (Class A)		22,715,809
385,805	e*	Intuit, Inc		12,195,296
31,215	e	Mastercard, Inc (Class A)		6,717,468
330,990	e	Omnicom Group, Inc		15,731,955
500,231	*	Oracle Corp		11,295,216
318,101	*	Yahoo!, Inc		7,399,029
		TOTAL BUSINESS SERVICES		117,654,956
CHEMICALS AND ALLIED PRODUCTS - 18.23%
79,476		Air Products & Chemicals, Inc		7,838,718
28,462	e*	Biogen Idec, Inc		1,620,057
175,011		Colgate-Palmolive Co		13,643,858
151,045	*	Genentech, Inc		10,130,588
277,821	*	Gilead Sciences, Inc		12,782,544
173,292		Merck & Co, Inc		10,069,998
225,334		Monsanto Co		25,167,554
48,417	*	Mosaic Co		4,567,660
271,668	*	Mylan Laboratories, Inc		3,819,652
97,552		Novartis AG. (ADR)		5,298,049
79,138		Praxair, Inc		7,020,332
398,964		Schering-Plough Corp		10,628,401
283,560		Teva Pharmaceutical Industries Ltd (ADR)		13,179,869
		TOTAL CHEMICALS AND ALLIED PRODUCTS		125,767,280
COAL MINING - 0.57%
79,894		Sasol Ltd (ADR)		3,952,356
		TOTAL COAL MINING		3,952,356

17

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
COMMUNICATIONS - 0.75%
124,899		AT&T, Inc	$	5,190,802
		TOTAL COMMUNICATIONS		5,190,802
DEPOSITORY INSTITUTIONS - 2.16%
67,689	e	State Street Corp		5,496,347
386,207	e	Western Union Co		9,377,106
		TOTAL DEPOSITORY INSTITUTIONS		14,873,453
EATING AND DRINKING PLACES - 0.94%
110,227		McDonald's Corp		6,493,473
		TOTAL EATING AND DRINKING PLACES		6,493,473
ELECTRIC, GAS, AND SANITARY SERVICES - 1.00%
101,961		FPL Group, Inc		6,910,917
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		6,910,917
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 10.92%
72,729	*	Apple Computer, Inc		14,406,160
588,589	*	Cisco Systems, Inc		15,933,104
570,299		Intel Corp		15,204,171
91,995	e	Maxim Integrated Products, Inc		2,436,028
202,765		Qualcomm, Inc		7,978,803
237,930	*	Renewable Energy Corp A.S.		12,094,014
64,448	*	Research In Motion Ltd		7,308,403
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		75,360,683
ENGINEERING AND MANAGEMENT SERVICES - 0.97%
144,301	e*	Celgene Corp		6,668,149
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		6,668,149
FABRICATED METAL PRODUCTS - 0.91%
117,835	e	Illinois Tool Works, Inc		6,308,886
		TOTAL FABRICATED METAL PRODUCTS		6,308,886
FOOD AND KINDRED PRODUCTS - 0.90%
13,509		Nestle S.A.		6,204,726
		TOTAL FOOD AND KINDRED PRODUCTS		6,204,726
GENERAL BUILDING CONTRACTORS - 0.35%
87,385		Ryland Group, Inc		2,407,457
		TOTAL GENERAL BUILDING CONTRACTORS		2,407,457
GENERAL MERCHANDISE STORES - 2.49%
365,579		TJX Cos, Inc		10,503,085
140,129		Wal-Mart Stores, Inc		6,660,331
		TOTAL GENERAL MERCHANDISE STORES		17,163,416
HOLDING AND OTHER INVESTMENT OFFICES - 0.34%
38,225		iShares Russell 1000 Growth Index Fund		2,323,316
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		2,323,316
HOTELS AND OTHER LODGING PLACES - 1.33%
109,141	e*	MGM Mirage		9,170,027
		TOTAL HOTELS AND OTHER LODGING PLACES		9,170,027

18

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.77%
52,190		Deere & Co	$	4,859,933
200,217		Hewlett-Packard Co		10,106,954
250,714	e	International Game Technology		11,013,866
6,200	m,v*	Seagate Technology, Inc		-
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		25,980,753
INSTRUMENTS AND RELATED PRODUCTS - 7.07%
91,469	*	Agilent Technologies, Inc		3,360,571
46,526		Alcon, Inc		6,655,079
321,057		Emerson Electric Co		18,191,090
130,060	e*	Flir Systems, Inc		4,070,878
42,883	e*	Hologic, Inc		2,943,489
97,894		Johnson & Johnson		6,529,530
89,210	*	Waters Corp		7,053,835
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		48,804,472
INSURANCE CARRIERS - 2.47%
64,693		Aetna, Inc		3,734,727
212,779		Aflac, Inc		13,326,349
		TOTAL INSURANCE CARRIERS		17,061,076
MISCELLANEOUS RETAIL - 4.82%
49,575	e*	Amazon.com, Inc		4,592,628
576,460		CVS Corp		22,914,285
125,553	e	Tiffany & Co		5,779,205
		TOTAL MISCELLANEOUS RETAIL		33,286,118
MOTION PICTURES - 0.82%
275,457		News Corp (Class A)		5,644,114
		TOTAL MOTION PICTURES		5,644,114
NONDEPOSITORY INSTITUTIONS - 0.91%
87,934		Textron, Inc		6,269,694
		TOTAL NONDEPOSITORY INSTITUTIONS		6,269,694
OIL AND GAS EXTRACTION - 4.76%
193,974	e*	Denbury Resources, Inc		5,770,726
66,025	*	National Oilwell Varco, Inc		4,850,196
146,204		Saipem S.p.A.		5,863,371
106,686		Schlumberger Ltd		10,494,702
113,596	e	XTO Energy, Inc		5,834,291
		TOTAL OIL AND GAS EXTRACTION		32,813,286
PAPER AND ALLIED PRODUCTS - 0.87%
97,385		Anglo American plc		5,970,722
		TOTAL PAPER AND ALLIED PRODUCTS		5,970,722
PETROLEUM AND COAL PRODUCTS - 2.06%
72,392		Devon Energy Corp		6,436,373
71,547	*	Suncor Energy, Inc		7,779,305
		TOTAL PETROLEUM AND COAL PRODUCTS		14,215,678

19

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 6.46%
543,225		Charles Schwab Corp	$	13,879,399
25,854		CME Group, Inc		17,735,844
45,121		Deutsche Boerse AG.		8,955,315
20,579	*	IntercontinentalExchange, Inc		3,961,457
		TOTAL SECURITY AND COMMODITY BROKERS		44,532,015
TRANSPORTATION EQUIPMENT - 1.36%
49,920	*	BE Aerospace, Inc		2,640,768
77,442		Boeing Co		6,773,077
		TOTAL TRANSPORTATION EQUIPMENT		9,413,845
WATER TRANSPORTATION - 1.22%
197,993	e	Royal Caribbean Cruises Ltd		8,402,823
		TOTAL WATER TRANSPORTATION		8,402,823
		TOTAL COMMON STOCKS		687,385,154
		(Cost $595,655,572)
PRINCIPAL		ISSUER
SHORT TERM INVESTMENTS - 0.50%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.50%
$        3,470,000		Federal Home Loan Bank (FHLB), 01/02/08		3,470,000
				3,470,000
		TOTAL SHORT TERM INVESTMENTS		3,470,000
		(Cost $3,469,687)
		TOTAL PORTFOLIO - 100.15%		690,855,154
		(Cost $599,125,259)
		OTHER ASSETS & LIABILITIES, NET - (0.15)%		(1,011,703	)
		NET ASSETS - 100.00%	$	689,843,451
	*	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.
		At December 31, 2007, the unrealized appreciation on investments was $91,729,898, consisting of
		gross unrealized appreciation of $105,598,210 and gross unrealized depreciation of $13,868,312.

20

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP VALUE FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.70%
AMUSEMENT AND RECREATION SERVICES - 0.31%
298,525	*	Melco PBL Entertainment Macau Ltd (ADR)	$	3,450,949
		TOTAL AMUSEMENT AND RECREATION SERVICES		3,450,949
APPAREL AND ACCESSORY STORES - 2.55%
1,350,933		Gap, Inc		28,747,854
		TOTAL APPAREL AND ACCESSORY STORES		28,747,854
APPAREL AND OTHER TEXTILE PRODUCTS - 0.03%
4,023		Liz Claiborne, Inc		81,868
3,049		VF Corp		209,344
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		291,212
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.10%
41,676		Home Depot, Inc		1,122,751
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		1,122,751
BUSINESS SERVICES - 2.14%
148,205	*	Affiliated Computer Services, Inc (Class A)		6,684,046
595	*	BladeLogic, Inc		17,594
59,599	*	Computer Sciences Corp		2,948,363
793	*	Data Domain, Inc		20,888
169,016	*	Mentor Graphics Corp		1,821,992
388,449	*	Oracle Corp		8,771,178
17,008,045		Solomon Systech International Ltd		1,439,622
149,325	*	Symantec Corp		2,410,105
		TOTAL BUSINESS SERVICES		24,113,788
CHEMICALS AND ALLIED PRODUCTS - 6.08%
30,209	*	Amgen, Inc		1,402,906
70,150	*	Biogen Idec, Inc		3,992,938
137,442		Colgate-Palmolive Co		10,714,978
37,967		Dow Chemical Co		1,496,659
247,018		Du Pont (E.I.) de Nemours & Co		10,891,024
79,393		Eli Lilly & Co		4,238,792
229,696		Merck & Co, Inc		13,347,635
666,588	*	Mylan Laboratories, Inc		9,372,227
87,960		Pfizer, Inc		1,999,331
179,639		Schering-Plough Corp		4,785,583
90,792	*	Vertex Pharmaceuticals, Inc		2,109,098
92,755		Wyeth		4,098,843
		TOTAL CHEMICALS AND ALLIED PRODUCTS		68,450,014
COAL MINING - 0.59%
107,094		Peabody Energy Corp		6,601,274
		TOTAL COAL MINING		6,601,274

21

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
COMMUNICATIONS - 5.48%
343,115		AT&T, Inc	$	14,259,859
182,517	*	Foundry Networks, Inc		3,197,698
1,130,958		Sprint Nextel Corp		14,849,479
189	*	Time Warner Cable, Inc (Class A)		5,216
15,434,995	v*	True Corp PCL		2,657,651
610,952		Verizon Communications, Inc		26,692,493
		TOTAL COMMUNICATIONS		61,662,396
DEPOSITORY INSTITUTIONS - 12.34%
647,326		AMMB Holdings BHD		743,828
18,479		Astoria Financial Corp		430,006
390,251		Bank of America Corp		16,101,756
455,422		Bank of New York Mellon Corp		22,206,377
42,700		Bank of the Ryukyus Ltd		529,761
55,323		BB&T Corp		1,696,756
599,971		Citigroup, Inc		17,663,146
173,543		Comerica, Inc		7,554,327
142,083	e	First Horizon National Corp		2,578,806
334,151		JPMorgan Chase & Co		14,585,691
119,819		SunTrust Banks, Inc		7,487,489
514,636		TCF Financial Corp		9,227,423
584,975		US Bancorp		18,567,106
213,721	e	Valley National Bancorp		4,073,522
45,210		Wachovia Corp		1,719,336
121,870		Washington Mutual, Inc		1,658,651
402,120	e	Wells Fargo & Co		12,140,003
		TOTAL DEPOSITORY INSTITUTIONS		138,963,984
EATING AND DRINKING PLACES - 1.49%
1,023,832		Compass Group plc		6,287,355
378,857		Darden Restaurants, Inc		10,498,127
		TOTAL EATING AND DRINKING PLACES		16,785,482
ELECTRIC, GAS, AND SANITARY SERVICES - 5.27%
670,174	*	Allied Waste Industries, Inc		7,385,317
128,703		American Electric Power Co, Inc		5,992,412
439,862		CMS Energy Corp		7,644,802
54,968		Constellation Energy Group, Inc		5,635,869
16,228		Dominion Resources, Inc		770,019
54,953		DPL, Inc		1,629,356
22,355		Exelon Corp		1,825,062
46,963		FirstEnergy Corp		3,397,303
153,678		FPL Group, Inc		10,416,295
6,133		MDU Resources Group, Inc		169,332
41,008	e*	Mirant Corp		1,598,492
83,246		PG&E Corp		3,587,070
27,744		PPL Corp		1,445,185
65,895		Questar Corp		3,564,919
3,632		Southern Union Co		106,636
140,000		TECO Energy, Inc		2,409,400
70,000		Westar Energy, Inc		1,815,800
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		59,393,269

22

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 3.13%
17,727		Celestica, Inc	$	102,817
83,609	*	Ciena Corp		2,851,903
72,242		Honeywell International, Inc		4,447,940
172,939		Intel Corp		4,610,554
22,461	*	JA Solar Holdings Co Ltd (ADR)		1,568,002
368,315	*	Marvell Technology Group Ltd		5,149,044
248,434		Maxim Integrated Products, Inc		6,578,532
467,195	*	Micron Technology, Inc		3,387,164
193,980		Motorola, Inc		3,111,439
68,254	*	Renewable Energy Corp A.S.		3,469,360
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		35,276,755
ENGINEERING AND MANAGEMENT SERVICES - 0.62%
408	*	Affymax, Inc		9,123
99,579	*	Amylin Pharmaceuticals, Inc		3,684,423
5,530	*	KBR, Inc		214,564
57,481	*	URS Corp		3,122,943
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		7,031,053
FABRICATED METAL PRODUCTS - 1.41%
133,872	*	Crown Holdings, Inc		3,433,817
232,930		Illinois Tool Works, Inc		12,471,072
		TOTAL FABRICATED METAL PRODUCTS		15,904,889
FOOD AND KINDRED PRODUCTS - 3.14%
499,435		Kraft Foods, Inc (Class A)		16,296,564
60,000		McCormick & Co, Inc		2,274,600
174,665		Molson Coors Brewing Co (Class B)		9,016,207
102,675		PepsiCo, Inc		7,793,032
		TOTAL FOOD AND KINDRED PRODUCTS		35,380,403
FORESTRY - 0.75%
155,273		Rayonier, Inc		7,335,097
15,000		Weyerhaeuser Co		1,106,100
		TOTAL FORESTRY		8,441,197
FURNITURE AND FIXTURES - 0.35%
183,864		Masco Corp		3,973,301
		TOTAL FURNITURE AND FIXTURES		3,973,301
FURNITURE AND HOMEFURNISHINGS STORES - 0.10%
263,084	e	Circuit City Stores, Inc		1,104,953
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		1,104,953
GENERAL BUILDING CONTRACTORS - 0.50%
370,100	e	Daikyo, Inc		1,080,004
79,671		Ryland Group, Inc		2,194,936
117,112	e*	Toll Brothers, Inc		2,349,267
		TOTAL GENERAL BUILDING CONTRACTORS		5,624,207
GENERAL MERCHANDISE STORES - 1.08%
369,219		Macy's, Inc		9,551,696

23

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
54,905		Wal-Mart Stores, Inc	$	2,609,635
		TOTAL GENERAL MERCHANDISE STORES		12,161,331
HEALTH SERVICES - 0.52%
277,728	e*	Healthsouth Corp		5,832,288
		TOTAL HEALTH SERVICES		5,832,288
HOLDING AND OTHER INVESTMENT OFFICES - 1.50%
11		Cross Timbers Royalty Trust		454
169,610		iShares Russell 1000 Value Index Fund		13,611,203
60,167		Plum Creek Timber Co, Inc		2,770,089
5,900		Vornado Realty Trust		518,905
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		16,900,651
HOTELS AND OTHER LODGING PLACES - 1.64%
148,700		Accor S.A.		11,892,156
78,583	*	MGM Mirage		6,602,544
		TOTAL HOTELS AND OTHER LODGING PLACES		18,494,700
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.77%
867,965	*	Brocade Communications Systems, Inc		6,370,863
780		Deere & Co		72,634
1,090,685		General Electric Co		40,431,693
126,578		International Game Technology		5,560,572
68,625		Joy Global, Inc		4,516,898
171,751		Trane, Inc		8,022,489
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		64,975,149
INSTRUMENTS AND RELATED PRODUCTS - 5.61%
193,683	*	Agilent Technologies, Inc		7,115,913
66,552		Applera Corp (Applied Biosystems Group)		2,257,444
61,780	*	Eagle Test Systems, Inc		789,548
264,210		Emerson Electric Co		14,970,139
446,439		Johnson & Johnson		29,777,481
99,532	*	St. Jude Medical, Inc		4,044,980
73,870	*	Thermo Electron Corp		4,260,822
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		63,216,327
INSURANCE AGENTS, BROKERS AND SERVICE - 0.92%
52,120		AON Corp		2,485,603
90,857		Hartford Financial Services Group, Inc		7,921,822
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		10,407,425
INSURANCE CARRIERS - 6.22%
42,348		ACE Ltd		2,616,259
1,248		Aegon NV		21,877
118,374		Aetna, Inc		6,833,731
52,558		Allstate Corp		2,745,104
232,152		American International Group, Inc		13,534,462
14,569		Aspen Insurance Holdings Ltd		420,170
69,386		Genworth Financial, Inc (Class A)		1,765,874
164,777		Lincoln National Corp		9,593,317
80,359		Max Re Capital Ltd		2,249,248
110,555		Platinum Underwriters Holdings Ltd		3,931,336
90,221		Principal Financial Group		6,210,814

24

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
48,097		Prudential Financial, Inc	$	4,474,945
275,596		Travelers Cos, Inc		14,827,065
16,495		XL Capital Ltd (Class A)		829,863
		TOTAL INSURANCE CARRIERS		70,054,065
METAL MINING - 0.05%
12,764	*	Patriot Coal Corp		532,769
		TOTAL METAL MINING		532,769
MISCELLANEOUS RETAIL - 0.39%
41,133		CVS Corp		1,635,037
988,737	e*	Rite Aid Corp		2,758,576
		TOTAL MISCELLANEOUS RETAIL		4,393,613
MOTION PICTURES - 1.19%
340,020		News Corp (Class A)		6,967,010
388,244		Time Warner, Inc		6,409,908
		TOTAL MOTION PICTURES		13,376,918
NONDEPOSITORY INSTITUTIONS - 2.63%
83,185		CIT Group, Inc		1,998,936
417,469		Discover Financial Services		6,295,433
466,181		Fannie Mae		18,637,916
77,231		Freddie Mac		2,631,260
		TOTAL NONDEPOSITORY INSTITUTIONS		29,563,545
OIL AND GAS EXTRACTION - 2.10%
26,170		Anadarko Petroleum Corp		1,719,107
28,000		Baker Hughes, Inc		2,270,800
75,031		BJ Services Co		1,820,252
24,675		Equitable Resources, Inc		1,314,684
119,835		Halliburton Co		4,542,945
305,000	*	Integra Group Holdings (GDR)		5,160,600
115,845		KazMunaiGas Exploration Production (GDR)		3,591,195
2,071	*	Plains Exploration & Production Co		111,834
60,000		XTO Energy, Inc		3,081,600
		TOTAL OIL AND GAS EXTRACTION		23,613,017
PAPER AND ALLIED PRODUCTS - 0.72%
99,952		Anglo American plc		6,128,106
25,713		Kimberly-Clark Corp		1,782,939
11,930		Mondi Ltd		115,177
10,183	*	Smurfit-Stone Container Corp		107,532
		TOTAL PAPER AND ALLIED PRODUCTS		8,133,754
PETROLEUM AND COAL PRODUCTS - 10.48%
150,380		Apache Corp		16,171,865
118,465		Cabot Oil & Gas Corp		4,782,432
188,651		Chevron Corp		17,606,798
112,564		ConocoPhillips		9,939,401
164,460		Devon Energy Corp		14,622,139
86,420		EOG Resources, Inc		7,712,985
144,435		Exxon Mobil Corp		13,532,115
127,296		Marathon Oil Corp		7,747,235

25

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
270,421		Occidental Petroleum Corp	$	20,819,713
31,869		Petroleo Brasileiro S.A. (ADR)		3,672,584
39,555	*	SandRidge Energy, Inc		1,418,442
		TOTAL PETROLEUM AND COAL PRODUCTS		118,025,709
PIPELINES, EXCEPT NATURAL GAS - 0.03%
12,081		Spectra Energy Corp		311,931
		TOTAL PIPELINES, EXCEPT NATURAL GAS		311,931
PRIMARY METAL INDUSTRIES - 0.56%
23,268		Vallourec		6,298,615
		TOTAL PRIMARY METAL INDUSTRIES		6,298,615
RAILROAD TRANSPORTATION - 0.09%
7,698		Union Pacific Corp		967,023
		TOTAL RAILROAD TRANSPORTATION		967,023
REAL ESTATE - 0.52%
1,640,472	*	Unitech Corporate Parks plc		3,706,370
164,400		Urban Corp		2,200,045
		TOTAL REAL ESTATE		5,906,415
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.69%
300,385		Newell Rubbermaid, Inc		7,773,964
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		7,773,964
SECURITY AND COMMODITY BROKERS - 4.77%
101,708	e	Bear Stearns Cos, Inc		8,975,731
5,370		Goldman Sachs Group, Inc		1,154,818
51,016		Lazard Ltd (Class A)		2,075,331
361,345		Lehman Brothers Holdings, Inc		23,646,417
245,735		Merrill Lynch & Co, Inc		13,191,055
43,252		Morgan Stanley		2,297,114
18,044		Nymex Holdings, Inc		2,410,859
		TOTAL SECURITY AND COMMODITY BROKERS		53,751,325
TOBACCO PRODUCTS - 1.55%
230,669		Altria Group, Inc		17,433,963
		TOTAL TOBACCO PRODUCTS		17,433,963
TRANSPORTATION BY AIR - 0.50%
163,291	e*	AMR Corp		2,290,973
262,819	e*	JetBlue Airways Corp		1,550,632
49,105	e	UAL Corp		1,751,084
		TOTAL TRANSPORTATION BY AIR		5,592,689
TRANSPORTATION EQUIPMENT - 1.42%
1,361,212	e*	Ford Motor Co		9,160,957
8,330		Lockheed Martin Corp		876,816
109,077	*	Pactiv Corp		2,904,721
51,150		Raytheon Co		3,104,805
		TOTAL TRANSPORTATION EQUIPMENT		16,047,299

26

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
TRANSPORTATION SERVICES - 0.63%
361,751		UTI Worldwide, Inc	$	7,090,320
		TOTAL TRANSPORTATION SERVICES		7,090,320
WATER TRANSPORTATION - 0.70%
185,073	e	Royal Caribbean Cruises Ltd		7,854,498
		TOTAL WATER TRANSPORTATION		7,854,498
WHOLESALE TRADE-DURABLE GOODS - 0.01%
5,846	*	Solera Holdings, Inc		144,864
		TOTAL WHOLESALE TRADE-DURABLE GOODS		144,864
WHOLESALE TRADE-NONDURABLE GOODS - 1.03%
60,000		Dean Foods Co		1,551,600
176,504		Gazprom (ADR)		10,007,777
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		11,559,377
		TOTAL COMMON STOCKS		1,122,733,275
		(Cost $1,127,923,805)
SHORT TERM INVESTMENTS - 1.54%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.65%
$       7,310,000		Federal Home Loan Bank (FHLB), 01/02/08		7,310,000
				7,310,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.89%
10,066,185		State Street Navigator Securities Lending Prime Portfolio		10,066,185
				10,066,185
		TOTAL SHORT TERM INVESTMENTS		17,376,185
		(Cost $10,066,185)
		TOTAL PORTFOLIO - 101.24%		1,140,109,460
		(Cost $1,137,989,990)
		OTHER ASSETS & LIABILITIES, NET - (1.24)%		(13,958,864	)
		NET ASSETS - 100.00%	$	1,126,150,596
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
	v	Security valued at fair value.
		At December 31, 2007, the unrealized appreciation on investments was $2,119,470, consisting of
		gross unrealized appreciation of $90,002,172 and gross unrealized depreciation of $87,882,702.

27

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP GROWTH FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.33%
AMUSEMENT AND RECREATION SERVICES - 1.19%
210,885	*	Activision, Inc	$	6,263,284
		TOTAL AMUSEMENT AND RECREATION SERVICES		6,263,284
APPAREL AND OTHER TEXTILE PRODUCTS - 1.64%
120,152		Guess ?, Inc		4,552,559
45,352		Phillips-Van Heusen Corp		1,671,675
38,817		Polo Ralph Lauren Corp		2,398,502
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		8,622,736
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 1.88%
231,528	*	Copart, Inc		9,851,516
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		9,851,516
BUSINESS SERVICES - 10.71%
156,029	*	Adobe Systems, Inc		6,667,119
199,601	*	Cavium Networks, Inc		4,594,815
43,949	*	Cerner Corp		2,478,724
71,872	*	Citrix Systems, Inc		2,731,855
111,031	*	Cognizant Technology Solutions Corp (Class A)		3,768,392
137,254	*	Electronic Arts, Inc		8,017,006
63,607	e*	Focus Media Holding Ltd (ADR)		3,613,514
385,092		Michael Page International plc		2,207,705
79,182		Omnicom Group, Inc		3,763,520
269,386	e*	RSC Holdings, Inc		3,380,794
108,816	*	Salesforce.com, Inc		6,821,675
203,238	*	Sybase, Inc		5,302,479
68,767	e*	WebMD Health Corp (Class A)		2,824,261
		TOTAL BUSINESS SERVICES		56,171,859
CHEMICALS AND ALLIED PRODUCTS - 7.10%
66,681		Church & Dwight Co, Inc		3,605,442
161,933		Ecolab, Inc		8,292,589
105,027	*	Hospira, Inc		4,478,351
178,539	e*	Mylan Laboratories, Inc		2,510,258
84,911		Praxair, Inc		7,532,455
41,906	e	Shire plc (ADR)		2,889,419
179,856	*	VCA Antech, Inc		7,955,031
		TOTAL CHEMICALS AND ALLIED PRODUCTS		37,263,545
COAL MINING - 1.83%
133,925		Consol Energy, Inc		9,578,316
		TOTAL COAL MINING		9,578,316
COMMUNICATIONS - 4.97%
180,923	*	American Tower Corp (Class A)		7,707,320
204,408	e*	Aruba Networks, Inc		3,047,723

28

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
149,898	*	Crown Castle International Corp	$	6,235,757
239,503	*	Foundry Networks, Inc		4,196,093
170,417	*	NeuStar, Inc (Class A)		4,887,560
		TOTAL COMMUNICATIONS		26,074,453
EATING AND DRINKING PLACES - 1.06%
145,407		Yum! Brands, Inc		5,564,726
		TOTAL EATING AND DRINKING PLACES		5,564,726
ELECTRIC, GAS, AND SANITARY SERVICES - 3.96%
70,086		Constellation Energy Group, Inc		7,185,918
318,151	*	Covanta Holding Corp		8,800,057
110,144	*	NRG Energy, Inc		4,773,641
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		20,759,616
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.93%
124,278		Analog Devices, Inc		3,939,613
221,963	*	Broadcom Corp (Class A)		5,802,113
8,469	e*	First Solar, Inc		2,262,409
147,481		Harris Corp		9,244,109
28,874	e*	JA Solar Holdings Co Ltd (ADR)		2,015,694
73,557		L-3 Communications Holdings, Inc		7,792,629
310,740	*	Marvell Technology Group Ltd		4,344,145
133,163		Maxim Integrated Products, Inc		3,526,156
190,717	*	Network Appliance, Inc		4,760,296
172,255	e*	Starent Networks Corp		3,143,654
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		46,830,818
FOOD AND KINDRED PRODUCTS - 2.60%
44,898		Bunge Ltd		5,226,576
49,088	*	Hansen Natural Corp		2,174,107
164,780		McCormick & Co, Inc		6,246,810
		TOTAL FOOD AND KINDRED PRODUCTS		13,647,493
FURNITURE AND HOMEFURNISHINGS STORES - 0.99%
83,336	*	GameStop Corp (Class A)		5,175,999
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		5,175,999
GENERAL MERCHANDISE STORES - 1.15%
209,630		TJX Cos, Inc		6,022,670
		TOTAL GENERAL MERCHANDISE STORES		6,022,670
HEALTH SERVICES - 1.08%
77,915	*	Express Scripts, Inc		5,687,795
		TOTAL HEALTH SERVICES		5,687,795
HOLDING AND OTHER INVESTMENT OFFICES - 4.26%
126,344	e	iShares Russell Midcap Growth Index Fund		14,395,635
173,541	e	iStar Financial, Inc		4,520,743
48,163		Macerich Co		3,422,463
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		22,338,841
INDUSTRIAL MACHINERY AND EQUIPMENT - 2.40%
162,132	e*	AuthenTec, Inc		2,355,778

29

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
57,672		Flowserve Corp	$	5,548,046
237,009	e*	Netezza Corp		3,270,724
53,604	*	Riverbed Technology, Inc		1,433,371
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		12,607,919
INSTRUMENTS AND RELATED PRODUCTS - 6.56%
160,957		Allergan, Inc		10,339,878
52,275		Bard (C.R.), Inc		4,955,670
75,350	*	Hologic, Inc		5,172,024
9,388	*	Intuitive Surgical, Inc		3,046,406
64,933		Rockwell Collins, Inc		4,673,228
64,727	*	St. Jude Medical, Inc		2,630,505
119,949	*	Trimble Navigation Ltd		3,627,258
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		34,444,969
INSURANCE CARRIERS - 1.14%
103,299		Aetna, Inc		5,963,451
		TOTAL INSURANCE CARRIERS		5,963,451
JUSTICE, PUBLIC ORDER AND SAFETY - 1.61%
285,587	*	Corrections Corp of America		8,427,672
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		8,427,672
LEATHER AND LEATHER PRODUCTS - 1.69%
127,588	*	Coach, Inc		3,901,641
135,017	e*	CROCS, Inc		4,969,976
		TOTAL LEATHER AND LEATHER PRODUCTS		8,871,617
METAL MINING - 0.66%
34,003		Freeport-McMoRan Copper & Gold, Inc (Class B)		3,483,267
		TOTAL METAL MINING		3,483,267
MISCELLANEOUS RETAIL - 1.94%
195,397	*	Dick's Sporting Goods, Inc		5,424,221
103,490		Tiffany & Co		4,763,645
		TOTAL MISCELLANEOUS RETAIL		10,187,866
MOTION PICTURES - 0.63%
131,261		National CineMedia, Inc		3,309,090
		TOTAL MOTION PICTURES		3,309,090
NONDEPOSITORY INSTITUTIONS - 1.59%
116,743		Textron, Inc		8,323,776
		TOTAL NONDEPOSITORY INSTITUTIONS		8,323,776
OIL AND GAS EXTRACTION - 11.97%
364,450	*	Denbury Resources, Inc		10,842,387
127,093		Equitable Resources, Inc		6,771,515
87,391	*	National Oilwell Varco, Inc		6,419,743
81,693		Noble Corp		4,616,471
125,905		Saipem S.p.A.		5,049,299
120,997		Smith International, Inc		8,935,628
98,004	*	Southwestern Energy Co		5,460,783
112,073	*	Weatherford International Ltd		7,688,208

30

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
136,779		XTO Energy, Inc	$	7,024,969
		TOTAL OIL AND GAS EXTRACTION		62,809,003
PRIMARY METAL INDUSTRIES - 1.81%
34,368		Precision Castparts Corp		4,766,842
179,537	e	Titanium Metals Corp		4,748,754
		TOTAL PRIMARY METAL INDUSTRIES		9,515,596
REAL ESTATE - 1.41%
144,347	e*	CB Richard Ellis Group, Inc (Class A)		3,110,678
96,266	e	Forest City Enterprises, Inc (Class A)		4,278,061
		TOTAL REAL ESTATE		7,388,739
RUBBER AND MISCELLANEOUS PLASTIC PRODUCT - 1.16%
94,447		Nike, Inc (Class B)		6,067,275
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		6,067,275
SECURITY AND COMMODITY BROKERS - 3.14%
31,528	*	IntercontinentalExchange, Inc		6,069,140
23,872	e	Nymex Holdings, Inc		3,189,538
118,580		T Rowe Price Group, Inc		7,219,150
		TOTAL SECURITY AND COMMODITY BROKERS		16,477,828
SPECIAL TRADE CONTRACTORS - 1.27%
254,858	*	Quanta Services, Inc		6,687,474
		TOTAL SPECIAL TRADE CONTRACTORS		6,687,474
STONE, CLAY, AND GLASS PRODUCTS - 0.69%
204,144		Gentex Corp		3,627,639
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		3,627,639
TRANSPORTATION EQUIPMENT - 0.88%
70,018		ITT Industries, Inc		4,623,989
		TOTAL TRANSPORTATION EQUIPMENT		4,623,989
WATER TRANSPORTATION - 2.38%
153,231	e	Genco Shipping & Trading Ltd		8,390,930
96,966		Royal Caribbean Cruises Ltd		4,115,237
		TOTAL WATER TRANSPORTATION		12,506,167
WHOLESALE TRADE-DURABLE GOODS - 1.67%
416,241	*	LKQ Corp		8,749,386
		TOTAL WHOLESALE TRADE-DURABLE GOODS		8,749,386
WHOLESALE TRADE-NONDURABLE GOODS - 1.38%
85,942	e*	Bare Escentuals, Inc		2,084,093
39,419	e	Wimm-Bill-Dann Foods OJSC (ADR)		5,165,466
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		7,249,559
		TOTAL COMMON STOCKS		521,175,949
		(Cost $474,449,839)

31

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
PRINCIPAL		ISSUER		VALUE
SHORT TERM INVESTMENTS - 8.03%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.56%
$       2,950,000		Federal Home Loan Bank (FHLB), 01/02/08	$	2,950,000
				2,950,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 7.47%
39,196,266		State Street Navigator Securities Lending Prime Portfolio		39,196,266
				39,196,266
		TOTAL SHORT TERM INVESTMENTS		42,146,266
		(Cost $42,146,005)
		TOTAL PORTFOLIO - 107.36%		563,322,215
		(Cost $516,595,844)
		OTHER ASSETS & LIABILITIES, NET - (7.36)%		(38,634,491	)
		NET ASSETS - 100.00%	$	524,687,724
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
		At December 31, 2007, the unrealized appreciation on investments was $46,726,371, consisting of
		gross unrealized appreciation of $70,202,194 and gross unrealized depreciation of $23,475,823.

32

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP VALUE FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.89%
AMUSEMENT AND RECREATION SERVICES - 0.48%
125,000	*	Melco PBL Entertainment Macau Ltd (ADR)	$	1,445,000
42,000	*	Penn National Gaming, Inc		2,501,100
		TOTAL AMUSEMENT AND RECREATION SERVICES		3,946,100
APPAREL AND ACCESSORY STORES - 0.88%
73,000	*	AnnTaylor Stores Corp		1,865,880
255,000		Gap, Inc		5,426,400
		TOTAL APPAREL AND ACCESSORY STORES		7,292,280
APPAREL AND OTHER TEXTILE PRODUCTS - 0.26%
108,000		Liz Claiborne, Inc		2,197,800
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		2,197,800
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.15%
85,000		Asbury Automotive Group, Inc		1,279,250
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,279,250
BUSINESS SERVICES - 5.03%
152,000	*	Affiliated Computer Services, Inc (Class A)		6,855,200
41,000		Automatic Data Processing, Inc		1,825,730
110,000	*	CACI International, Inc (Class A)		4,924,700
218,000	*	Computer Sciences Corp		10,784,460
177,000	*	DynCorp International, Inc (Class A)		4,757,760
350,000	*	Earthlink, Inc		2,474,500
133,000		Electronic Data Systems Corp		2,757,090
255,000	*	Interpublic Group of Cos, Inc		2,068,050
80,000	*	Juniper Networks, Inc		2,656,000
264,000	*	Novell, Inc		1,813,680
10,000	e*	VMware, Inc (Class A)		849,900
		TOTAL BUSINESS SERVICES		41,767,070
CHEMICALS AND ALLIED PRODUCTS - 6.55%
34,000	*	Agrium, Inc		2,469,000
242,000		Alberto-Culver Co		5,938,680
30,000		Clorox Co		1,955,100
147,000		Cytec Industries, Inc		9,052,260
60,000	*	Forest Laboratories, Inc		2,187,000
48,000	*	Invitrogen Corp		4,483,680
180,000	e*	Keryx Biopharmaceuticals, Inc		1,512,000
75,000		Methanex Corp		2,094,331
215,816	*	Mylan Laboratories, Inc		3,034,373
159,000		PPG Industries, Inc		11,166,570
93,000		Rohm & Haas Co		4,935,510
45,000		Sigma-Aldrich Corp		2,457,000
161,000	e*	Theravance, Inc		3,139,500
		TOTAL CHEMICALS AND ALLIED PRODUCTS		54,425,004

33

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
COAL MINING - 0.56%
40,000		Arch Coal, Inc	$	1,797,200
46,000		Peabody Energy Corp		2,835,440
		TOTAL COAL MINING		4,632,640
COMMUNICATIONS - 2.51%
37,000		Cablevision Systems Corp (Class A)		906,500
55,000		CenturyTel, Inc		2,280,300
292,976	e*	Crown Media Holdings, Inc (Class A)		1,904,344
23,000	*	EchoStar Communications Corp (Class A)		867,560
50,000		Global Payments, Inc		2,326,000
141,123		Informa plc		1,297,146
55,000	*	Liberty Media Corp - Capital (Series A)		6,406,950
86,000	e	Manitoba Telecom Services, Inc		4,005,694
45,000	*	MetroPCS Communications, Inc		875,250
		TOTAL COMMUNICATIONS		20,869,744
DEPOSITORY INSTITUTIONS - 6.97%
82,000		Astoria Financial Corp		1,908,140
56,361	e	Banco Bilbao Vizcaya Argentaria S.A. (ADR)		1,366,754
73,000		Bank of New York Mellon Corp		3,559,480
50,000		Comerica, Inc		2,176,500
24,000		Cullen/Frost Bankers, Inc		1,215,840
710,000		Hudson City Bancorp, Inc		10,664,200
145,000		Huntington Bancshares, Inc		2,140,200
89,000		Marshall & Ilsley Corp		2,356,720
50,000		National Bank of Greece S.A.		3,434,356
140,000	e	New York Community Bancorp, Inc		2,461,200
77,000		Northern Trust Corp		5,896,660
60,000		PNC Financial Services Group, Inc		3,939,000
110,000		Sovereign Bancorp, Inc		1,254,000
380,000		TCF Financial Corp		6,813,400
225,000	e	Valley National Bancorp		4,288,500
91,257		Wells Fargo & Co		2,755,049
70,000		Western Union Co		1,699,600
		TOTAL DEPOSITORY INSTITUTIONS		57,929,599
EATING AND DRINKING PLACES - 0.99%
298,000		Darden Restaurants, Inc		8,257,580
		TOTAL EATING AND DRINKING PLACES		8,257,580
ELECTRIC, GAS, AND SANITARY SERVICES - 15.74%
49,000		Allegheny Energy, Inc		3,116,890
513,000	*	Allied Waste Industries, Inc		5,653,260
156,000		American Electric Power Co, Inc		7,263,360
125,000		CMS Energy Corp		2,172,500
112,000		Constellation Energy Group, Inc		11,483,360
92,000		DPL, Inc		2,727,800
89,000		Edison International		4,749,930
60,000		Energen Corp		3,853,800
61,000		FirstEnergy Corp		4,412,740
78,000		Fortum Oyj		3,513,570
156,600		Integrys Energy Group, Inc		8,094,654

34

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
69,000	*	Mirant Corp	$	2,689,620
310,300		NorthWestern Corp		9,153,850
171,000	*	NRG Energy, Inc		7,411,140
91,123	e*	Ocean Power Technologies, Inc		1,478,926
195,000		Pepco Holdings, Inc		5,719,350
77,000		PG&E Corp		3,317,930
159,000		PPL Corp		8,282,310
197,000		Progress Energy, Inc		9,540,710
162,000		Questar Corp		8,764,200
50,000		Sempra Energy		3,094,000
220,000		Southern Union Co		6,459,200
104,000		Williams Cos, Inc		3,721,120
183,000		Xcel Energy, Inc		4,130,310
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		130,804,530
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 2.99%
106,000	e*	Cree, Inc		2,911,820
239,000	*	Fairchild Semiconductor International, Inc		3,448,770
220,000	*	Gemstar-TV Guide International, Inc		1,047,200
187,000	*	Infineon Technologies AG. (ADR)		2,176,680
81,677		L-3 Communications Holdings, Inc		8,652,861
280,800	*	LSI Logic Corp		1,491,048
93,000		Maxim Integrated Products, Inc		2,462,640
400,000	*	Tellabs, Inc		2,616,000
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		24,807,019
ENGINEERING AND MANAGEMENT SERVICES - 1.09%
40,000	*	McDermott International, Inc		2,361,200
47,000	*	Shaw Group, Inc		2,840,680
71,500	*	URS Corp		3,884,595
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		9,086,475
FABRICATED METAL PRODUCTS - 1.70%
82,000		Commercial Metals Co		2,414,900
457,000	*	Crown Holdings, Inc		11,722,050
		TOTAL FABRICATED METAL PRODUCTS		14,136,950
FOOD AND KINDRED PRODUCTS - 2.53%
125,000		Del Monte Foods Co		1,182,500
48,000		Hershey Co		1,891,200
83,000		McCormick & Co, Inc		3,146,530
66,000		Pepsi Bottling Group, Inc		2,604,360
355,000	*	Smithfield Foods, Inc		10,266,600
125,000		Tyson Foods, Inc (Class A)		1,916,250
		TOTAL FOOD AND KINDRED PRODUCTS		21,007,440
FOOD STORES - 1.25%
292,000		Kroger Co		7,799,320
68,000		Supervalu, Inc		2,551,360
		TOTAL FOOD STORES		10,350,680
FURNITURE AND FIXTURES - 0.31%
120,000		Masco Corp		2,593,200
		TOTAL FURNITURE AND FIXTURES		2,593,200

35

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
GENERAL BUILDING CONTRACTORS - 0.37%
110,000		Ryland Group, Inc	$	3,030,500
		TOTAL GENERAL BUILDING CONTRACTORS		3,030,500
GENERAL MERCHANDISE STORES - 0.29%
93,000		Macy's, Inc		2,405,910
		TOTAL GENERAL MERCHANDISE STORES		2,405,910
HEALTH SERVICES - 1.20%
15,000	*	Coventry Health Care, Inc		888,750
63,500	*	DaVita, Inc		3,578,225
220,000	e*	Healthsouth Corp		4,620,000
10,000	*	WellPoint, Inc		877,300
		TOTAL HEALTH SERVICES		9,964,275
HEAVY CONSTRUCTION, EXCEPT BUILDING - 1.58%
78,000		Bouygues S.A.		6,500,276
89,000		Vinci S.A.		6,590,703
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		13,090,979
HOLDING AND OTHER INVESTMENT OFFICES - 6.34%
62,000		Boston Properties, Inc		5,692,220
37,000		Camden Property Trust		1,781,550
60,000		CBL & Associates Properties, Inc		1,434,600
45,000		Douglas Emmett, Inc		1,017,450
60,000		Equity Residential		2,188,200
42,000		General Growth Properties, Inc		1,729,560
82,000	e	Glimcher Realty Trust		1,171,780
61,329	g,m,v*	GSC Capital Corp		118,978
6,000		iShares Russell 1000 Value Index Fund		481,500
5,000		iShares Russell Midcap Value Index Fund		705,300
75,000		Kimco Realty Corp		2,730,000
32,000		Mack-Cali Realty Corp		1,088,000
31,000		Pennsylvania Real Estate Investment Trust		920,080
127,000		Plum Creek Timber Co, Inc		5,847,080
41,000		Post Properties, Inc		1,439,920
76,000		Potlatch Corp		3,377,440
89,000		Prologis		5,640,820
31,500		Public Storage, Inc		2,312,415
80,000		Taubman Centers, Inc		3,935,200
103,000		Vornado Realty Trust		9,058,850
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		52,670,943
HOTELS AND OTHER LODGING PLACES - 2.51%
123,000		Accor S.A.		9,836,821
40,000	*	MGM Mirage		3,360,800
34,000		Orient-Express Hotels Ltd (Class A)		1,955,680
130,000		Starwood Hotels & Resorts Worldwide, Inc		5,723,900
		TOTAL HOTELS AND OTHER LODGING PLACES		20,877,201
INDUSTRIAL MACHINERY AND EQUIPMENT - 2.87%
230,000	*	Brocade Communications Systems, Inc		1,688,200
61,000		Curtiss-Wright Corp		3,062,200

36

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
26,000		Deere & Co	$	2,421,120
120,000		Dover Corp		5,530,800
31,347		Joy Global, Inc		2,063,260
195,000		Trane, Inc		9,108,450
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		23,874,030
INSTRUMENTS AND RELATED PRODUCTS - 3.19%
55,000	*	Agilent Technologies, Inc		2,020,700
75,000		Applera Corp (Applied Biosystems Group)		2,544,000
240,000		BAE Systems plc		2,379,166
37,000		Beckman Coulter, Inc		2,693,600
76,000		Cooper Cos, Inc		2,888,000
15,000	*	Mettler-Toledo International, Inc		1,707,000
79,000	*	Thermo Electron Corp		4,556,720
25,000	*	Waters Corp		1,976,750
355,000		Xerox Corp		5,747,450
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		26,513,386
INSURANCE AGENTS, BROKERS AND SERVICE - 0.98%
112,000		AON Corp		5,341,280
32,500		Hartford Financial Services Group, Inc		2,833,675
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		8,174,955
INSURANCE CARRIERS - 7.32%
99,300		ACE Ltd		6,134,754
68,000		Aetna, Inc		3,925,640
31,000		Assurant, Inc		2,073,900
102,000		Axis Capital Holdings Ltd		3,974,940
60,000		CNA Financial Corp		2,023,200
255,000	*	Conseco, Inc		3,202,800
49,000		Everest Re Group Ltd		4,919,600
190,000		Genworth Financial, Inc (Class A)		4,835,500
40,000		Hanover Insurance Group, Inc		1,832,000
25,311		Lincoln National Corp		1,473,606
76,000		Max Re Capital Ltd		2,127,240
48,000		OneBeacon Insurance Group Ltd		1,032,000
36,000		PartnerRe Ltd		2,971,080
236,000		Principal Financial Group		16,246,240
80,000		XL Capital Ltd (Class A)		4,024,800
		TOTAL INSURANCE CARRIERS		60,797,300
METAL MINING - 1.00%
95,000		Cameco Corp		3,808,856
19,000		Cleveland-Cliffs, Inc		1,915,200
38,000		Compania de Minas Buenaventura S.A. (ADR)		2,150,800
45,000	e*	Stillwater Mining Co		434,700
		TOTAL METAL MINING		8,309,556
MISCELLANEOUS RETAIL - 0.82%
80,000		Barnes & Noble, Inc		2,756,000
43,000		Compagnie Financiere Richemont AG.		2,951,111
391,000	e*	Rite Aid Corp		1,090,890
		TOTAL MISCELLANEOUS RETAIL		6,798,001

37

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
MOTION PICTURES - 0.58%
30,000		CBS Corp (Class B)	$	817,500
112,000	*	Discovery Holding Co (Class A)		2,815,680
64,000		Regal Entertainment Group (Class A)		1,156,480
		TOTAL MOTION PICTURES		4,789,660
NONDEPOSITORY INSTITUTIONS - 0.18%
15,999	*	Guaranty Financial Group, Inc		256,000
157,218	*	Heckmann Corp		1,265,605
		TOTAL NONDEPOSITORY INSTITUTIONS		1,521,605
OIL AND GAS EXTRACTION - 1.34%
65,000		BJ Services Co		1,576,900
28,000		Equitable Resources, Inc		1,491,840
89,000	*	Forest Oil Corp		4,524,760
105,000	*	Pride International, Inc		3,559,500
		TOTAL OIL AND GAS EXTRACTION		11,153,000
PAPER AND ALLIED PRODUCTS - 3.00%
57,200	e*	AbitibiBowater, Inc		1,178,892
209,000		Anglo American plc		12,813,893
152,000		Greif, Inc (Class A)		9,936,240
48,000		Temple-Inland, Inc		1,000,800
		TOTAL PAPER AND ALLIED PRODUCTS		24,929,825
PETROLEUM AND COAL PRODUCTS - 3.10%
160,000		Cabot Oil & Gas Corp		6,459,200
60,000		Hess Corp		6,051,600
48,000	*	Newfield Exploration Co		2,529,600
121,000		Noble Energy, Inc		9,621,920
29,661	*	SandRidge Energy, Inc		1,063,643
		TOTAL PETROLEUM AND COAL PRODUCTS		25,725,963
PRIMARY METAL INDUSTRIES - 1.82%
3,000		Carpenter Technology Corp		225,510
14,000		Nucor Corp		829,080
15,000		Precision Castparts Corp		2,080,500
4,000	*	RTI International Metals, Inc		275,720
45,000		Steel Dynamics, Inc		2,680,650
32,000		United States Steel Corp		3,869,120
19,200		Vallourec		5,197,413
		TOTAL PRIMARY METAL INDUSTRIES		15,157,993
PRINTING AND PUBLISHING - 1.14%
71,500		Gannett Co, Inc		2,788,500
65,000		Meredith Corp		3,573,700
85,000	e	R.H. Donnelley Corp		3,100,800
		TOTAL PRINTING AND PUBLISHING		9,463,000
RAILROAD TRANSPORTATION - 0.64%
80,000		CSX Corp		3,518,400
36,000		Norfolk Southern Corp		1,815,840
		TOTAL RAILROAD TRANSPORTATION		5,334,240

38

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
REAL ESTATE - 0.05%
15,999	*	Forestar Real Estate Group, Inc	$	377,440
		TOTAL REAL ESTATE		377,440
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.45%
143,000		Newell Rubbermaid, Inc		3,700,840
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		3,700,840
SECURITY AND COMMODITY BROKERS - 0.94%
141,000		Charles Schwab Corp		3,602,550
93,000		Jefferies Group, Inc		2,143,650
57,000		Waddell & Reed Financial, Inc (Class A)		2,057,130
		TOTAL SECURITY AND COMMODITY BROKERS		7,803,330
TOBACCO PRODUCTS - 1.68%
81,000		Loews Corp (Carolina Group)		6,909,300
83,000		Reynolds American, Inc		5,474,680
78,749	e	Vector Group Ltd		1,579,705
		TOTAL TOBACCO PRODUCTS		13,963,685
TRANSPORTATION BY AIR - 1.33%
107,000	e*	AMR Corp		1,501,210
102,000	*	Continental Airlines, Inc (Class B)		2,269,500
120,000	*	easyJet plc		1,465,480
162,000	e	UAL Corp		5,776,920
		TOTAL TRANSPORTATION BY AIR		11,013,110
TRANSPORTATION EQUIPMENT - 3.38%
125,000		Autoliv, Inc		6,588,750
555,000	e*	Ford Motor Co		3,735,150
20,500		General Dynamics Corp		1,824,295
87,000	e	Group 1 Automotive, Inc		2,066,250
37,000		Harsco Corp		2,370,590
33,000		ITT Industries, Inc		2,179,320
115,171	*	Pactiv Corp		3,067,004
128,000	*	Spirit Aerosystems Holdings, Inc (Class A)		4,416,000
89,000	*	TRW Automotive Holdings Corp		1,860,100
		TOTAL TRANSPORTATION EQUIPMENT		28,107,459
WATER TRANSPORTATION - 0.76%
127,000		Danaos Corp		3,354,070
70,000	e	Eagle Bulk Shipping, Inc		1,858,500
68,000	e	Omega Navigation Enterprises, Inc (Class A)		1,071,000
		TOTAL WATER TRANSPORTATION		6,283,570
WHOLESALE TRADE-NONDURABLE GOODS - 1.04%
43,000	v	Akzo Nobel NV (ADR)		3,435,700
50,000		Dean Foods Co		1,293,000
97,000	e	Macquarie Infrastructure Co LLC		3,931,410
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		8,660,110
		TOTAL COMMON STOCKS		829,875,227
		(Cost $779,770,039)

39

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
SHORT TERM INVESTMENTS - 2.72%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.72%
$       22,604,332		State Street Navigator Securities Lending Prime Portfolio	$	22,604,332
				22,604,332
		TOTAL SHORT TERM INVESTMENTS		22,604,332
		(Cost $22,628,220)
		TOTAL PORTFOLIO - 102.61%		852,479,559
		(Cost $802,398,259)
		OTHER ASSETS & LIABILITIES, NET - (2.61)%		(21,694,320	)
		NET ASSETS - 100.00%	$	830,785,239
	*	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 transactions exempt from registration to qualified institutional
		buyers. At December 31, 2007, the value of these securities amounted to $118,978
		or 0.01% of net assets.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.
		At December 31, 2007, the unrealized appreciation on investments was $50,081,300, consisting of
		gross unrealized appreciation of $114,804,371 and gross unrealized depreciation of $64,723,071.

40

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.70%
AGRICULTURAL PRODUCTION-CROPS - 0.08%
20,600	e*	Chiquita Brands International, Inc	$	378,834
		TOTAL AGRICULTURAL PRODUCTION-CROPS		378,834
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.44%
83,738	e	Cal-Maine Foods, Inc		2,221,569
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		2,221,569
AMUSEMENT AND RECREATION SERVICES - 0.24%
10,000	*	Bally Technologies, Inc		497,200
357		Dover Downs Gaming & Entertainment, Inc		4,016
4,300	*	Leapfrog Enterprises, Inc		28,939
67,609	*	Magna Entertainment Corp		65,581
8,552	*	Town Sports International Holdings, Inc		81,757
270,549	*	Westwood One, Inc		538,393
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,215,886
APPAREL AND ACCESSORY STORES - 1.34%
84,536	*	Aeropostale, Inc		2,240,204
66,098		Brown Shoe Co, Inc		1,002,707
1,928		Cato Corp (Class A)		30,192
56,497	*	Collective Brands, Inc		982,483
83,119	*	Dress Barn, Inc		1,039,819
10,000	*	J Crew Group, Inc		482,100
20,000	*	Jo-Ann Stores, Inc		261,600
4,500	e*	Under Armour, Inc (Class A)		196,515
196,940	*	Wet Seal, Inc (Class A)		458,870
		TOTAL APPAREL AND ACCESSORY STORES		6,694,490
APPAREL AND OTHER TEXTILE PRODUCTS - 0.63%
47,563	*	Gymboree Corp		1,448,769
32,092	e*	Lululemon Athletica, Inc		1,520,198
15,100	*	Maidenform Brands, Inc		204,303
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		3,173,270
AUTO REPAIR, SERVICES AND PARKING - 0.00%**
664	*	Wright Express Corp		23,565
		TOTAL AUTO REPAIR, SERVICES AND PARKING		23,565
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.00%**
265	e*	Central Garden & Pet Co		1,526
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		1,526
BUSINESS SERVICES - 11.67%
199,369	*	3Com Corp		901,148
61,132		ABM Industries, Inc		1,246,481
153,911	*	Actuate Corp		1,195,888

41

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
48,765		Administaff, Inc	$	1,379,074
87,500	*	American Reprographics Co		1,442,000
36,520	*	Ansoft Corp		944,042
12,374	*	Ansys, Inc		513,026
1	*	Art Technology Group, Inc		4
10,600	*	Aspen Technology, Inc		171,932
58,131	*	Avocent Corp		1,355,034
4,986		Barrett Business Services		89,798
4,002	*	Blue Coat Systems, Inc		131,546
11,300	*	CACI International, Inc (Class A)		505,901
45,276	*	Chordiant Software, Inc		387,110
781	*	Commvault Systems, Inc		16,542
25,716		Compass Diversified Trust		383,168
83,446	*	COMSYS IT Partners, Inc		1,316,778
56,507	*	CSG Systems International, Inc		831,783
11,961	*	Cybersource Corp		212,547
1,800	*	DealerTrack Holdings, Inc		60,246
28,573	*	Digital River, Inc		944,909
231,000	*	Earthlink, Inc		1,633,170
9,000	*	Equinix, Inc		909,630
99,911	e*	eSpeed, Inc (Class A)		1,128,994
4,000	*	Gartner, Inc		70,240
21,059	*	Gerber Scientific, Inc		227,437
23,980	e*	Global Sources Ltd		676,716
48,600	*	H&E Equipment Services, Inc		917,568
71,700		Heartland Payment Systems, Inc		1,921,560
22,169		Heidrick & Struggles International, Inc		822,692
59,927	*	Hudson Highland Group, Inc		503,986
2,603	e*	ICT Group, Inc		31,106
60,656	*	Informatica Corp		1,093,021
876		Infospace, Inc		16,469
240	*	Integral Systems, Inc		5,582
500	*	Interactive Intelligence, Inc		13,175
44,600		Jack Henry & Associates, Inc		1,085,564
33,875	*	Kforce, Inc		330,281
11,252	*	Korn/Ferry International		211,763
58,000	e*	Limelight Networks, Inc		399,620
50,475	*	LoJack Corp		848,485
67,734	*	Manhattan Associates, Inc		1,785,468
42,838	*	Mantech International Corp (Class A)		1,877,161
18,481	*	Mentor Graphics Corp		199,225
24,727	*	MicroStrategy, Inc (Class A)		2,351,538
128,113	*	MPS Group, Inc		1,401,556
781	*	Ness Technologies, Inc		7,209
23,200	e*	NetFlix, Inc		617,584
31,100	*	Nuance Communications, Inc		580,948
76,280	*	Parametric Technology Corp		1,361,598
29,300	e*	Perficient, Inc		461,182
72,343	*	Progress Software Corp		2,436,512
15,000	*	Quest Software, Inc		276,600
170,000	*	Sapient Corp		1,497,700
7,400	e*	Sonus Networks, Inc		43,142
37,712		Sotheby's		1,436,827
55,709	*	SPSS, Inc		2,000,510
92,268	*	Sybase, Inc		2,407,272

42

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
90,390	*	SYKES Enterprises, Inc	$	1,627,020
50,500	e*	Take-Two Interactive Software, Inc		931,725
88,736	*	TeleTech Holdings, Inc		1,887,415
37,887	*	TIBCO Software, Inc		305,748
40,747	*	Travelzoo, Inc		557,419
70,457	*	TrueBlue, Inc		1,020,217
69,400		United Online, Inc		820,308
79,700	*	Valueclick, Inc		1,745,430
25,880	*	Visual Sciences, Inc		478,262
14,000	*	Vocus, Inc		483,420
58,300	*	Websense, Inc		989,934
		TOTAL BUSINESS SERVICES		58,464,946
CHEMICALS AND ALLIED PRODUCTS - 8.64%
23,868	e*	Acorda Therapeutics, Inc		524,141
7,363	*	Adams Respiratory Therapeutics, Inc		439,866
8,800	*	Alexion Pharmaceuticals, Inc		660,264
121,007	*	Alkermes, Inc		1,886,499
61,050	*	American Oriental Bioengineering, Inc		676,434
28,620	*	Animal Health International, Inc		352,026
50,190		Arch Chemicals, Inc		1,844,483
12,331	*	Auxilium Pharmaceuticals, Inc		369,807
200	*	Bentley Pharmaceuticals, Inc		3,018
25,819	*	BioMarin Pharmaceuticals, Inc		913,993
4,900	*	Caraco Pharmaceutical Laboratories Ltd		84,035
1,600	*	Cell Genesys, Inc		3,680
42,295		CF Industries Holdings, Inc		4,654,988
7,791	*	Chattem, Inc		588,532
107,323	*	Cubist Pharmaceuticals, Inc		2,201,195
56,353	e*	CytRx Corp		160,043
28,300	e*	Dendreon Corp		176,026
5,500	*	Durect Corp		35,365
19,050	e*	Enzon Pharmaceuticals, Inc		181,547
22,746	e*	Halozyme Therapeutics, Inc		161,724
524		Hercules, Inc		10,139
35,398	*	Immucor, Inc		1,203,178
42,743	e*	Indevus Pharmaceuticals, Inc		297,064
17,582		Innospec, Inc		301,707
10,100	*	Inverness Medical Innovations, Inc		567,418
45,621		Koppers Holdings, Inc		1,972,652
63,239	e*	KV Pharmaceutical Co (Class A)		1,804,841
2,138	*	Martek Biosciences Corp		63,242
40,552	*	MGI Pharma, Inc		1,643,573
14,700		Minerals Technologies, Inc		984,165
118,353	*	Nabi Biopharmaceuticals		427,254
11,279		NewMarket Corp		628,128
7,000	e*	Noven Pharmaceuticals, Inc		97,160
19,408	*	Omrix Biopharmaceuticals, Inc		674,234
11,300	*	Onyx Pharmaceuticals, Inc		628,506
15,695	*	OraSure Technologies, Inc		139,529
67,486	e*	OSI Pharmaceuticals, Inc		3,273,746
2,327	*	Pain Therapeutics, Inc		24,666
13,107	*	Par Pharmaceutical Cos, Inc		314,568
1,003	*	Parexel International Corp		48,445
85,773		Perrigo Co		3,002,913

43

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
22,744	*	PetMed Express, Inc	$	275,202
13,302	*	Pharmion Corp		836,164
23,900	*	Revlon, Inc (Class A)		28,202
70,817	*	Sciele Pharma, Inc		1,448,208
19,500	*	United Therapeutics Corp		1,904,175
15,135	e*	USANA Health Sciences, Inc		561,206
60,011	e*	Valeant Pharmaceuticals International		718,332
103,600	e*	Viropharma, Inc		822,584
86,690	*	WR Grace & Co		2,269,544
6,900	*	Xenoport, Inc		385,572
		TOTAL CHEMICALS AND ALLIED PRODUCTS		43,273,983
COAL MINING - 0.40%
62,217	*	Alpha Natural Resources, Inc		2,020,808
		TOTAL COAL MINING		2,020,808
COMMUNICATIONS - 3.51%
29,394	e*	Anixter International, Inc		1,830,364
50,885		Atlantic Tele-Network, Inc		1,718,895
5,100	*	Cbeyond Communications, Inc		198,849
162,955	e	Centennial Communications Corp		1,513,852
462,305	*	Cincinnati Bell, Inc		2,195,949
853	e	Citadel Broadcasting Corp		1,757
81,994	*	Foundry Networks, Inc		1,436,535
95,360	*	General Communication, Inc (Class A)		834,400
40,000	*	GeoEye, Inc		1,346,000
11,064	e	Ibasis, Inc		56,758
62,108	*	j2 Global Communications, Inc		1,314,826
3,300	e*	Lodgenet Entertainment Corp		57,552
45,546	e*	Mediacom Communications Corp (Class A)		209,056
27,415	*	Nexstar Broadcasting Group, Inc (Class A)		250,573
79,456	*	Novatel Wireless, Inc		1,287,187
58,740		NTELOS Holdings Corp		1,743,991
92,877		RCN Corp		1,447,952
1,600	*	Rural Cellular Corp (Class A)		70,544
6,500	e*	TiVo, Inc		54,210
		TOTAL COMMUNICATIONS		17,569,250
DEPOSITORY INSTITUTIONS - 5.06%
4,600		1st Source Corp		79,626
24,274	e	Ameris Bancorp		409,017
27,335	e	Anchor Bancorp Wisconsin, Inc		642,919
20,202	e	Bancfirst Corp		865,656
35,591	*	Bancorp, Inc		479,055
900		Bank Mutual Corp		9,513
8,335		Bank of the Ozarks, Inc		218,377
178	e	BankUnited Financial Corp (Class A)		1,228
10,085	e	Banner Corp		289,742
5,874		Capitol Bancorp Ltd		118,185
34,718	*	Centennial Bank Holdings, Inc		200,670
39,800		Center Financial Corp		490,336
13,075		Central Pacific Financial Corp		241,365
38,341	e	Chemical Financial Corp		912,132
16,238		Chittenden Corp		578,398
12,862	e*	Community Bancorp		223,413

44

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
34,356		Community Trust Bancorp, Inc	$	945,821
20,100	*	Dollar Financial Corp		616,869
42,529		First Financial Bancorp		484,831
565		First Financial Holdings, Inc		15,492
40,000		First Merchants Corp		873,600
153,645		First Niagara Financial Group, Inc		1,849,886
9,937		First Place Financial Corp		139,019
10,264	e*	First Regional Bancorp		193,887
12,000		First State Bancorporation		166,800
50,000		FirstMerit Corp		1,000,500
80,000	e*	Franklin Bank Corp		344,800
2		Fulton Financial Corp		22
53,425	e	Hanmi Financial Corp		460,524
8,309	e	Horizon Financial Corp		144,909
23,217	e	Independent Bank Corp		220,562
36,586	e	Integra Bank Corp		516,228
26,571	e	Macatawa Bank Corp		228,245
17,807		Nara Bancorp, Inc		207,808
30,000	e	Northwest Bancorp, Inc		797,100
1,050		Preferred Bank		27,321
9,826		Renasant Corp		211,947
9,719	e	Sierra Bancorp		241,906
10,103		Simmons First National Corp (Class A)		267,730
64,945		Southwest Bancorp, Inc		1,190,442
78,938		Sterling Bancshares, Inc		880,948
18,339	*	Sterling Financial Corp		301,126
9,700	e	Sterling Financial Corp		162,863
600		Suffolk Bancorp		18,426
38,955	*	Sun Bancorp, Inc		614,710
25,000	e*	SVB Financial Group		1,260,000
8,675		Taylor Capital Group, Inc		176,970
40,000	*	Texas Capital Bancshares, Inc		730,000
6,688	e	TierOne Corp		148,139
1,700		Trico Bancshares		32,810
47,096		Trustmark Corp		1,194,355
84,164	e	Umpqua Holdings Corp		1,291,076
52,692	e	United Community Banks, Inc		832,534
400		United Community Financial Corp		2,208
85,062	e	Wilshire Bancorp, Inc		667,737
3,895		Wintrust Financial Corp		129,041
		TOTAL DEPOSITORY INSTITUTIONS		25,348,824
EATING AND DRINKING PLACES - 1.85%
8,800	*	AFC Enterprises		99,616
34,084		Bob Evans Farms, Inc		917,882
45,122		CBRL Group, Inc		1,461,502
11,089	*	CEC Entertainment, Inc		287,870
3,200	d,e*	Chipotle Mexican Grill, Inc (Class B)		393,760
30,777	e	CKE Restaurants, Inc		406,256
262,890	*	Denny's Corp		985,838
81,400	*	Jack in the Box, Inc		2,097,678
13,497	*	McCormick & Schmick's Seafood Restaurants, Inc		161,019
55,150		O'Charleys, Inc		826,147
68,468	*	Papa John's International, Inc		1,554,224
137	*	PF Chang's China Bistro, Inc		3,129

45

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
7,203		Ruby Tuesday, Inc	$	70,229
634	e*	Ruth's Chris Steak House, Inc		5,668
		TOTAL EATING AND DRINKING PLACES		9,270,818
EDUCATIONAL SERVICES - 0.75%
32,000		DeVry, Inc		1,662,720
5	*	Lincoln Educational Services Corp		74
12,348		Strayer Education, Inc		2,106,322
		TOTAL EDUCATIONAL SERVICES		3,769,116
ELECTRIC, GAS, AND SANITARY SERVICES - 3.14%
36,800		Allete, Inc		1,456,544
18,600		American States Water Co		700,848
26,169		Avista Corp		563,680
20,000		California Water Service Group		740,400
39,824	*	Clean Harbors, Inc		2,058,901
5,011		Metal Management, Inc		228,151
22,900		Northwest Natural Gas Co		1,114,314
13,936		NorthWestern Corp		411,112
7,300		Otter Tail Corp		252,580
86,862		Portland General Electric Co		2,413,026
100		South Jersey Industries, Inc		3,609
77,747		Southwest Gas Corp		2,314,528
55,514		UIL Holdings Corp		2,051,242
44,008		WGL Holdings, Inc		1,441,702
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		15,750,637
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 7.15%
41,100		Acuity Brands, Inc		1,849,500
105,396	*	Advanced Energy Industries, Inc		1,378,580
124,156	e*	Amkor Technology, Inc		1,059,051
149,289	*	Arris Group, Inc		1,489,914
73,800	*	Atheros Communications, Inc		2,253,852
13,224	*	Benchmark Electronics, Inc		234,462
24,366	*	Ceradyne, Inc		1,143,496
14,559	*	Comtech Telecommunications Corp		786,332
80,000	e*	FuelCell Energy, Inc		793,600
43,420	*	Gemstar-TV Guide International, Inc		206,679
6,850	*	Genlyte Group, Inc		652,120
95,200	*	GrafTech International Ltd		1,689,800
43,969	*	Greatbatch, Inc		878,940
120,000	*	Kemet Corp		795,600
48,810	*	Littelfuse, Inc		1,608,778
51,562	*	Mattson Technology, Inc		441,371
97,687		Methode Electronics, Inc		1,605,974
45,500	*	Microsemi Corp		1,007,370
8,146	*	MIPS Technologies, Inc		40,404
198	*	Monolithic Power Systems, Inc		4,251
25,825	*	Moog, Inc (Class A)		1,183,043
4,526	e*	MRV Communications, Inc		10,500
900	*	Multi-Fineline Electronix, Inc		15,606
229,509	e*	ON Semiconductor Corp		2,038,040
73,502	*	Oplink Communications, Inc		1,128,256
600		Park Electrochemical Corp		16,944
30,000	*	Pericom Semiconductor Corp		561,000

46

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
19,028	*	Plexus Corp	$	499,675
87,800	*	Polycom, Inc		2,439,084
60,000	*	Polypore International, Inc		1,050,000
20,848	*	RF Micro Devices, Inc		119,042
66,814	*	Silicon Image, Inc		301,999
44,738	*	Smart Modular Technologies WWH, Inc		455,433
118,760	e*	Spansion, Inc (Class A)		466,727
35,168	*	Stoneridge, Inc		282,751
75,173		Technitrol, Inc		2,148,444
25,700	e*	Techwell, Inc		282,957
6,000	*	Tessera Technologies, Inc		249,600
163,130	*	Trident Microsystems, Inc		1,070,133
4,273	*	Triquint Semiconductor, Inc		28,330
6,200	*	TTM Technologies, Inc		72,292
11,800	*	Varian Semiconductor Equipment Associates, Inc		436,600
9,400	*	Viasat, Inc		323,642
17,100	*	Zoltek Cos, Inc		733,077
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		35,833,249
ENGINEERING AND MANAGEMENT SERVICES - 2.49%
7,657	*	Advisory Board Co		491,503
10,899		CDI Corp		264,410
4,904	*	comScore, Inc		160,018
43,774		Diamond Management & Technology Consultants, Inc		318,237
79,131	*	Exelixis, Inc		682,901
39,600	*	Greenfield Online, Inc		578,556
9,184	*	Harris Interactive, Inc		39,124
48,391	*	Incyte Corp		486,330
1,334	*	LECG Corp		20,090
27,164	e*	Lifecell Corp		1,171,040
20,081	e*	Luminex Corp		326,115
10,250	*	Michael Baker Corp		421,275
11,200	*	Myriad Genetics, Inc		519,904
32,142	*	PharmaNet Development Group, Inc		1,260,288
26,032	*	Regeneron Pharmaceuticals, Inc		628,673
10,300		Resources Connection, Inc		187,048
4,170	*	Rigel Pharmaceuticals, Inc		105,876
90,000	*	SAIC, Inc		1,810,800
81,110	e*	Seattle Genetics, Inc		924,654
45,091		Watson Wyatt & Co Holdings (Class A)		2,092,673
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		12,489,515
FABRICATED METAL PRODUCTS - 0.89%
7,200		Aptargroup, Inc		294,552
40,852	*	Chart Industries, Inc		1,262,327
16,219		Compx International, Inc		237,122
58,660		Gulf Island Fabrication, Inc		1,860,109
37,500	*	Sturm Ruger & Co, Inc		310,500
5,300	e*	Taser International, Inc		76,267
38,000	*	Trimas Corp		402,420
		TOTAL FABRICATED METAL PRODUCTS		4,443,297
FOOD AND KINDRED PRODUCTS - 0.99%
17,500	*	Boston Beer Co, Inc (Class A)		658,875
74,000	*	Darling International, Inc		855,440

47

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
96,145		Flowers Foods, Inc	$	2,250,754
13,800		National Beverage Corp		110,952
17,816	*	Ralcorp Holdings, Inc		1,083,035
		TOTAL FOOD AND KINDRED PRODUCTS		4,959,056
FOOD STORES - 0.20%
5,200		Ingles Markets, Inc (Class A)		132,028
25,018		Ruddick Corp		867,374
		TOTAL FOOD STORES		999,402
FURNITURE AND FIXTURES - 0.91%
91,040		Herman Miller, Inc		2,948,786
43,334		Kimball International, Inc (Class B)		593,676
39,290	e	Tempur-Pedic International, Inc		1,020,361
		TOTAL FURNITURE AND FIXTURES		4,562,823
FURNITURE AND HOME FURNISHINGS STORES - 0.36%
110,547		Knoll, Inc		1,816,287
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		1,816,287
GENERAL BUILDING CONTRACTORS - 0.39%
47,513	*	Perini Corp		1,967,988
		TOTAL GENERAL BUILDING CONTRACTORS		1,967,988
GENERAL MERCHANDISE STORES - 0.46%
55,300		Casey's General Stores, Inc		1,637,433
15,200	e*	Conn's, Inc		260,072
81,100	e*	Retail Ventures, Inc		412,799
		TOTAL GENERAL MERCHANDISE STORES		2,310,304
HEALTH SERVICES - 0.57%
17,147	*	Amsurg Corp		463,998
4,035	*	Corvel Corp		92,886
16,000	*	Genoptix Inc		491,200
14,300	*	Healthsouth Corp		300,300
190	*	Kindred Healthcare, Inc		4,746
34,600	e	LCA-Vision, Inc		690,962
27,758	*	Medcath Corp		681,736
13,000	*	Nektar Therapeutics		87,230
3,283	*	Odyssey HealthCare, Inc		36,310
702	*	RehabCare Group, Inc		15,837
		TOTAL HEALTH SERVICES		2,865,205
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.58%
44,178		Granite Construction, Inc		1,598,360
60,082	*	Matrix Service Co		1,310,989
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		2,909,349
HOLDING AND OTHER INVESTMENT OFFICES - 6.75%
8,600		Agree Realty Corp		258,860
40,900		Anthracite Capital, Inc		296,116
2,680	e	BRT Realty Trust		41,004
141,891		DiamondRock Hospitality Co		2,125,527
46,900		Equity Lifestyle Properties, Inc		2,141,923
49,400		Extra Space Storage, Inc		705,926

48

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
117,232		FelCor Lodging Trust, Inc	$	1,827,647
929		Gladstone Capital Corp		15,793
47,400	e	Gramercy Capital Corp		1,152,294
59,823	*	Hilltop Holdings, Inc		653,267
52,183		Home Properties, Inc		2,340,408
113,400	e	iShares Russell 2000 Index Fund		8,609,328
33,157		LaSalle Hotel Properties		1,057,708
19,900		LTC Properties, Inc		498,495
44,373		Mid-America Apartment Communities, Inc		1,896,946
3,600		Mission West Properties, Inc		34,236
40,000		Nationwide Health Properties, Inc		1,254,800
59,539		Potlatch Corp		2,645,913
20,151		PS Business Parks, Inc		1,058,935
8,200		Resource Capital Corp		76,342
35,200		Saul Centers, Inc		1,880,736
59,782		Sunstone Hotel Investors, Inc		1,093,413
44,622	e	Tanger Factory Outlet Centers, Inc		1,682,696
30,457		Urstadt Biddle Properties, Inc (Class A)		472,084
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		33,820,397
HOTELS AND OTHER LODGING PLACES - 0.09%
18,905	*	Monarch Casino & Resort, Inc		455,232
		TOTAL HOTELS AND OTHER LODGING PLACES		455,232
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.81%
47,124		Ampco-Pittsburgh Corp		1,796,838
27,000	*	Astec Industries, Inc		1,004,130
838		Black Box Corp		30,310
39,442	*	Brooks Automation, Inc		521,029
3,331		Curtiss-Wright Corp		167,216
12,000	*	Dril-Quip, Inc		667,920
120,400	*	Emulex Corp		1,964,928
56,075	*	EnPro Industries, Inc		1,718,699
286,719	*	Extreme Networks, Inc		1,014,985
33,537	*	Hurco Cos, Inc		1,463,890
40,141	*	Intevac, Inc		583,650
12,000		Lindsay Manufacturing Co		848,280
25,234		Lufkin Industries, Inc		1,445,656
27,028	*	Micros Systems, Inc		1,896,284
8,600		Nacco Industries, Inc (Class A)		857,334
11,898	*	NATCO Group, Inc (Class A)		644,277
32,100	*	Netgear, Inc		1,145,007
329,865	*	Quantum Corp		887,337
18,544	*	Rimage Corp		481,217
24,900		Robbins & Myers, Inc		1,883,187
19,200	*	Safeguard Scientifics, Inc		34,560
30,000	*	Scansource, Inc		970,500
26,000	e*	Sigma Designs, Inc		1,435,200
21,127	*	Super Micro Computer, Inc		162,044
7,700	*	T-3 Energy Services, Inc		361,977
5,354	*	Tecumseh Products Co (Class A)		125,337
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		24,111,792
INSTRUMENTS AND RELATED PRODUCTS - 8.07%
20,000	*	Affymetrix, Inc		462,800

49

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
25,000	*	Anaren, Inc	$	412,250
17,792	*	Bio-Rad Laboratories, Inc (Class A)		1,843,607
180,608	*	Bruker BioSciences Corp		2,402,086
4,870	*	Conmed Corp		112,546
17,700	*	Credence Systems Corp		42,834
34,573	*	Cutera, Inc		542,796
60,500	e*	Cynosure, Inc (Class A)		1,600,830
6,414	*	Excel Technology, Inc		173,819
62,600	*	FARO Technologies, Inc		1,701,468
28,000	*	Flir Systems, Inc		876,400
10,000	*	Formfactor, Inc		331,000
51,146	*	Fossil, Inc		2,147,109
28,332	*	Haemonetics Corp		1,785,483
54,769	*	Hologic, Inc		3,759,344
35,340	*	II-VI, Inc		1,079,637
49,370	*	Illumina, Inc		2,925,666
59,900	*	ION Geophysical Corp		945,222
60,001	*	Merit Medical Systems, Inc		834,014
23,437	*	MKS Instruments, Inc		448,584
51,832		Movado Group, Inc		1,310,831
31,066		MTS Systems Corp		1,325,586
16,724	*	Palomar Medical Technologies, Inc		256,212
8,000	*	Rofin-Sinar Technologies, Inc		384,880
64,000	*	Sirf Technology Holdings, Inc		1,608,320
15,168		Sirona Dental Systems, Inc		507,825
19,500	*	Spectranetics Corp		298,935
81,144		STERIS Corp		2,340,193
42,741	*	Teledyne Technologies, Inc		2,279,378
40,719	*	Varian, Inc		2,658,951
16,114	*	Ventana Medical Systems, Inc		1,405,624
40,000	*	Vivus, Inc		207,200
51,515	*	Zoll Medical Corp		1,376,481
3,352	*	Zygo Corp		41,766
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		40,429,677
INSURANCE AGENTS, BROKERS AND SERVICE - 0.28%
474		Hilb Rogal & Hobbs Co		19,230
68,199	*	United America Indemnity Ltd (Class A)		1,358,524
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		1,377,754
INSURANCE CARRIERS - 4.16%
64,040	*	AMERIGROUP Corp		2,334,258
69,900	*	Amerisafe, Inc		1,084,149
4,473	*	Argo Group International Holdings Ltd		188,447
89,300		Aspen Insurance Holdings Ltd		2,575,412
94,700	*	Centene Corp		2,598,568
48,500	*	CNA Surety Corp		959,815
611		EMC Insurance Group, Inc		14,462
316	*	First Mercury Financial Corp		7,710
26,200	*	Hallmark Financial Services		415,532
700		Harleysville Group, Inc		24,766
30,300	*	HealthExtras, Inc		790,224
863	*	Healthspring, Inc		16,440
17,000		Max Re Capital Ltd		475,830
51,603	*	Molina Healthcare, Inc		1,997,036

50

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
900		National Interstate Corp	$	29,790
6,600	*	Navigators Group, Inc		429,000
53,309		Odyssey Re Holdings Corp		1,956,973
36,400		Platinum Underwriters Holdings Ltd		1,294,384
2,031		Presidential Life Corp		35,563
43,510		Safety Insurance Group, Inc		1,593,336
2,538		Selective Insurance Group, Inc		58,349
288		State Auto Financial Corp		7,574
22,382	*	Universal American Financial Corp		572,755
53,800	*	Validus Holdings Ltd		1,397,724
		TOTAL INSURANCE CARRIERS		20,858,097
LEATHER AND LEATHER PRODUCTS - 0.22%
53,731		Steven Madden Ltd		1,074,620
		TOTAL LEATHER AND LEATHER PRODUCTS		1,074,620
LEGAL SERVICES - 0.33%
29,906	e*	Pre-Paid Legal Services, Inc		1,655,297
		TOTAL LEGAL SERVICES		1,655,297
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.13%
21,500	e*	Emergency Medical Services Corp (Class A)		629,520
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		629,520
METAL MINING - 0.05%
2,000	*	Apex Silver Mines Ltd		30,480
10,500	*	Rosetta Resources, Inc		208,215
		TOTAL METAL MINING		238,695
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.88%
60,015		Blyth, Inc		1,316,729
100,600		Callaway Golf Co		1,753,458
48,701	e*	Jakks Pacific, Inc		1,149,831
7,288	*	RC2 Corp		204,574
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		4,424,592
MISCELLANEOUS RETAIL - 1.36%
1,102	e*	1-800-FLOWERS.COM, Inc (Class A)		9,620
16,000		Big 5 Sporting Goods Corp		230,720
155,891	*	Ezcorp, Inc (Class A)		1,760,009
7,507		Longs Drug Stores Corp		352,829
22,955	*	Priceline.com, Inc		2,636,611
47,561	e	Systemax, Inc		966,439
28,800		World Fuel Services Corp		836,064
		TOTAL MISCELLANEOUS RETAIL		6,792,292
MOTION PICTURES - 0.04%
3,000	*	Avid Technology, Inc		85,020
20,948	e*	Blockbuster, Inc (Class A)		81,697
1,694	*	Macrovision Corp		31,051
		TOTAL MOTION PICTURES		197,768
MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS - 0.11%
51,053	e*	Premier Exhibitions, Inc		558,520
		TOTAL MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS		558,520

51

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
NONDEPOSITORY INSTITUTIONS - 0.55%
155,992		Advance America Cash Advance Centers, Inc	$	1,584,879
86,893		Advanta Corp (Class B)		701,227
14,215		MCG Capital Corp		164,752
17,000	*	PHH Corp		299,880
		TOTAL NONDEPOSITORY INSTITUTIONS		2,750,738
OIL AND GAS EXTRACTION - 4.24%
5,600	e	APCO Argentina, Inc		154,112
25,710		Atlas America, Inc		1,521,518
18,634	*	ATP Oil & Gas Corp		941,762
29,800	*	Atwood Oceanics, Inc		2,987,152
46,229	e*	Basic Energy Services, Inc		1,014,727
540	*	Bill Barrett Corp		22,610
85,500	*	Bois d'Arc Energy, Inc		1,697,175
32,711	*	Cal Dive International, Inc		433,094
300	*	Clayton Williams Energy, Inc		9,348
19,476	*	Dawson Geophysical Co		1,391,755
119,677	*	Energy Partners Ltd		1,413,385
15,652	*	Exterran Holdings, Inc		1,280,334
190	e*	Harvest Natural Resources, Inc		2,375
9,600	*	Hercules Offshore, Inc		228,288
46,300	*	Mariner Energy, Inc		1,059,344
500	m,v*	PetroCorp		0
10,991	*	PetroHawk Energy Corp		190,254
168,900	e*	Petroquest Energy, Inc		2,415,270
38,400	*	Stone Energy Corp		1,801,344
61,867	e*	Trico Marine Services, Inc		2,290,316
18,495	*	Union Drilling, Inc		291,666
23,400	e*	Vaalco Energy, Inc		108,810
		TOTAL OIL AND GAS EXTRACTION		21,254,639
PAPER AND ALLIED PRODUCTS - 0.74%
107,100	*	Buckeye Technologies, Inc		1,338,750
5,700		Greif, Inc (Class A)		372,609
79,073		Rock-Tenn Co (Class A)		2,009,245
		TOTAL PAPER AND ALLIED PRODUCTS		3,720,604
PERSONAL SERVICES - 0.05%
10,500	e	CPI Corp		247,275
		TOTAL PERSONAL SERVICES		247,275
PETROLEUM AND COAL PRODUCTS - 0.30%
55,700		Alon USA Energy, Inc		1,513,926
		TOTAL PETROLEUM AND COAL PRODUCTS		1,513,926
PRIMARY METAL INDUSTRIES - 2.16%
15,685	*	AK Steel Holding Corp		725,274
47,094	e	Belden CDT, Inc		2,095,683
8,200	*	Brush Engineered Materials, Inc		303,564
39,100	*	Century Aluminum Co		2,109,054
18,827	*	CommScope, Inc		926,496
10,484	*	Haynes International, Inc		728,638
39,000	*	Horsehead Holding Corp		661,830

52

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
6,171		Matthews International Corp (Class A)	$	289,235
15,354		Mueller Industries, Inc		445,112
21,400	*	RTI International Metals, Inc		1,475,102
4,739	*	Superior Essex, Inc		113,736
27,100	*	Universal Stainless & Alloy		963,947
		TOTAL PRIMARY METAL INDUSTRIES		10,837,671
PRINTING AND PUBLISHING - 0.50%
7,900	*	ACCO Brands Corp		126,716
30,959	*	Consolidated Graphics, Inc		1,480,459
48,800		Ennis, Inc		878,400
2,749		Primedia, Inc		23,366
		TOTAL PRINTING AND PUBLISHING		2,508,941
REAL ESTATE - 0.19%
16,163		Grubb & Ellis Co		103,605
60,000	e*	LoopNet, Inc		843,000
1		Stewart Enterprises, Inc (Class A)		9
		TOTAL REAL ESTATE		946,614
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 1.51%
27,802	*	AEP Industries, Inc		889,942
98,054		Cooper Tire & Rubber Co		1,625,735
3,000	*	Deckers Outdoor Corp		465,180
14,136		Schulman (A.), Inc		304,631
30,000	*	Skechers U.S.A., Inc (Class A)		585,300
73,700		Tupperware Corp		2,434,311
30,811	e	West Pharmaceutical Services, Inc		1,250,618
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		7,555,717
SECURITY AND COMMODITY BROKERS - 1.37%
19,900	e*	Cowen Group, Inc		189,249
42,200		Evercore Partners, Inc (Class A)		909,410
23,407	*	GFI Group, Inc		2,240,518
574	e*	Interactive Brokers Group, Inc (Class A)		18,552
15,000	e	optionsXpress Holdings, Inc		507,300
8,700	*	Penson Worldwide, Inc		124,845
80,000		Waddell & Reed Financial, Inc (Class A)		2,887,200
		TOTAL SECURITY AND COMMODITY BROKERS		6,877,074
SOCIAL SERVICES - 0.01%
1,813	*	Res-Care, Inc		45,615
		TOTAL SOCIAL SERVICES		45,615
SPECIAL TRADE CONTRACTORS - 1.07%
61,471	*	AsiaInfo Holdings, Inc		676,181
34,951		Chemed Corp		1,953,062
50,899		Comfort Systems USA, Inc		650,489
83,620	*	EMCOR Group, Inc		1,975,941
5,836	e*	Integrated Electrical Services, Inc		109,658
		TOTAL SPECIAL TRADE CONTRACTORS		5,365,331
TEXTILE MILL PRODUCTS - 0.04%
30,300	e*	Heelys, Inc		210,888
		TOTAL TEXTILE MILL PRODUCTS		210,888

53

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
TRANSPORTATION BY AIR - 0.22%
9,000	*	Alaska Air Group, Inc	$	225,090
1,020	*	PHI, Inc		31,640
23,500	*	Republic Airways Holdings, Inc		460,365
13,391		Skywest, Inc		359,548
		TOTAL TRANSPORTATION BY AIR		1,076,643
TRANSPORTATION EQUIPMENT - 1.76%
41,100		American Axle & Manufacturing Holdings, Inc		765,282
25,782	e	American Railcar Industries, Inc		496,303
24,138	*	Amerigon, Inc		510,277
63,600	e	ArvinMeritor, Inc		746,028
80,711	*	Comtech Group, Inc		1,300,254
13,190	e*	Force Protection, Inc		61,729
672	e	Group 1 Automotive, Inc		15,960
6,280	*	Miller Industries, Inc		85,973
43,653	*	Orbital Sciences Corp		1,070,372
24,152	e	Polaris Industries, Inc		1,153,741
19,335	e	Triumph Group, Inc		1,592,237
30,000		Westinghouse Air Brake Technologies Corp		1,033,200
		TOTAL TRANSPORTATION EQUIPMENT		8,831,356
TRANSPORTATION SERVICES - 1.25%
1,100	e*	Dynamex, Inc		29,766
69,717	*	HUB Group, Inc (Class A)		1,853,078
94,433	*	Lear Corp		2,612,017
63,600	*	Orbitz Worldwide, Inc		540,600
82,267		Pacer International, Inc		1,201,098
		TOTAL TRANSPORTATION SERVICES		6,236,559
TRUCKING AND WAREHOUSING - 0.01%
2,749	*	Saia, Inc		36,562
		TOTAL TRUCKING AND WAREHOUSING		36,562
WATER TRANSPORTATION - 0.16%
10,100	e*	American Commercial Lines, Inc		164,024
33,236		Horizon Lines, Inc (Class A)		619,519
		TOTAL WATER TRANSPORTATION		783,543
WHOLESALE TRADE-DURABLE GOODS - 1.34%
84,599		Applied Industrial Technologies, Inc		2,455,063
2,514	e*	BlueLinx Holdings, Inc		9,880
1,000	*	Digi International, Inc		14,190
20,000	*	LKQ Corp		420,400
16,294	*	MWI Veterinary Supply, Inc		651,760
90,465	*	PSS World Medical, Inc		1,770,400
55,000	*	Solera Holdings, Inc		1,362,900
		TOTAL WHOLESALE TRADE-DURABLE GOODS		6,684,593
WHOLESALE TRADE-NONDURABLE GOODS - 2.21%
17,000		Andersons, Inc		761,600
26,000	e*	Central European Distribution Corp		1,510,080
3,000	e*	Core-Mark Holding Co, Inc		86,160
32,000	*	LSB Industries, Inc		903,040

54

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
9,889		Myers Industries, Inc	$	143,094
65,243		Spartan Stores, Inc		1,490,803
87,300	*	Terra Industries, Inc		4,169,448
38,703	*	United Stationers, Inc		1,788,466
15,750	*	Zep Inc		218,452
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		11,071,143
		TOTAL COMMON STOCKS		499,513,682
		(Cost $514,354,177)
SHORT-TERM INVESTMENTS - 2.73%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.13%
$        670,000		Federal Home Loan Bank (FHLB), 01/02/08		670,000
				670,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.60%
13,032,084		State Street Navigator Securities Lending Prime Portfolio		13,032,084
				13,032,084
		TOTAL SHORT-TERM INVESTMENTS		13,702,084
		(Cost $13,702,024)
		TOTAL PORTFOLIO - 102.43%		513,215,766
		(Cost $528,056,201)
		OTHER ASSETS & LIABILITIES, NET - (2.43)%		(12,191,716	)
		NET ASSETS - 100.00%	$	501,024,050
	*	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 $184,575.
	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.
		At December 31, 2007, the unrealized depreciation on investments was $14,840,344, consisting of
		gross unrealized appreciation of $42,897,499 and gross unrealized depreciation of $57,737,843.

55

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.42%
AMUSEMENT AND RECREATION SERVICES - 0.64%
13,698	*	Activision, Inc	$	406,831
5,136	e	Harrah's Entertainment, Inc		455,820
3,542	e*	Penn National Gaming, Inc		210,926
41,724	e	Walt Disney Co		1,346,851
831	e	Warner Music Group Corp		5,036
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,425,464
APPAREL AND ACCESSORY STORES - 0.67%
4,209		Abercrombie & Fitch Co (Class A)		336,594
8,763		American Eagle Outfitters, Inc		182,008
2,817	e*	AnnTaylor Stores Corp		72,003
9,201	e*	Chico's FAS, Inc		83,085
4,960	*	Hanesbrands, Inc		134,763
15,404	*	Kohl's Corp		705,503
15,197	e	Limited Brands, Inc		287,679
11,854	e	Nordstrom, Inc		435,397
6,335	e	Ross Stores, Inc		161,986
5,614	e*	Urban Outfitters, Inc		153,038
		TOTAL APPAREL AND ACCESSORY STORES		2,552,056
APPAREL AND OTHER TEXTILE PRODUCTS - 0.10%
2,579	e	Guess ?, Inc		97,718
223	e	Liz Claiborne, Inc		4,538
2,522	e	Phillips-Van Heusen Corp		92,961
2,933	e	Polo Ralph Lauren Corp		181,230
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		376,447
AUTO REPAIR, SERVICES AND PARKING - 0.04%
9,994	e*	Hertz Global Holdings, Inc		158,805
		TOTAL AUTO REPAIR, SERVICES AND PARKING		158,805
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.25%
4,802		Advance Auto Parts		182,428
2,301	e*	Autozone, Inc		275,913
10,116	e*	Carmax, Inc		199,791
3,115	*	Copart, Inc		132,543
5,434	e*	O'Reilly Automotive, Inc		176,225
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		966,900
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.83%
5,940	e	Fastenal Co		240,095
47,016	e	Home Depot, Inc		1,266,611
72,226	e	Lowe's Cos, Inc		1,633,752
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		3,140,458
BUSINESS SERVICES - 12.23%
28,467		Accenture Ltd (Class A)		1,025,666
3,993		Acxiom Corp		46,838
28,200	*	Adobe Systems, Inc		1,204,986

56

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
1,687	*	Affiliated Computer Services, Inc (Class A)	$	76,084
1,521	e	Aircastle Ltd		40,048
7,987	*	Akamai Technologies, Inc		276,350
3,860	*	Alliance Data Systems Corp		289,461
9,520	*	Amdocs Ltd		328,154
11,067	*	Autodesk, Inc		550,694
26,909		Automatic Data Processing, Inc		1,198,258
2,198	*	Avis Budget Group, Inc		28,574
18,326	e*	BEA Systems, Inc		289,184
9,748	e*	BMC Software, Inc		347,419
2,144		Brink's Co		128,083
12,466	e	CA, Inc		311,027
3,181	e*	Cadence Design Systems, Inc		54,109
3,138	e*	Cerner Corp		176,983
3,571	*	ChoicePoint, Inc		130,056
9,189	*	Citrix Systems, Inc		349,274
1,739	*	Clear Channel Outdoor Holdings, Inc (Class A)		48,101
13,786	e*	Cognizant Technology Solutions Corp (Class A)		467,897
11,710	e*	Compuware Corp		103,985
2,519	*	DST Systems, Inc		207,943
55,328	*	eBay, Inc		1,836,336
14,935	*	Electronic Arts, Inc		872,353
13,656	e	Electronic Data Systems Corp		283,089
6,351		Equifax, Inc		230,922
3,832	e*	F5 Networks, Inc		109,289
1,965	e	Factset Research Systems, Inc		109,451
236	e	Fair Isaac Corp		7,587
7,781		Fidelity National Information Services, Inc		323,612
8,059	*	Fiserv, Inc		447,194
1,575	e*	Getty Images, Inc		45,675
11,053	*	Google, Inc (Class A)		7,642,928
9,377	e*	HLTH Corp		125,652
8,344	e	IMS Health, Inc		192,246
13,530	e*	Interpublic Group of Cos, Inc		109,728
16,177	*	Intuit, Inc		511,355
8,719	e*	Iron Mountain, Inc		322,777
17,677	*	Juniper Networks, Inc		586,876
2,218	e*	Kinetic Concepts, Inc		118,796
3,855	e	Lamar Advertising Co (Class A)		185,310
4,170		Manpower, Inc		237,273
3,818	e	Mastercard, Inc (Class A)		821,634
7,776	e*	McAfee, Inc		291,600
395,735		Microsoft Corp		14,088,166
4,622	e	MoneyGram International, Inc		71,040
5,889	e*	Monster Worldwide, Inc		190,804
4,678	*	NAVTEQ Corp		353,657
975	e*	NCR Corp		24,473
1,751	*	Novell, Inc		12,029
15,864		Omnicom Group, Inc		754,016
185,739	*	Oracle Corp		4,193,987
9,281	e*	Red Hat, Inc		193,416
7,151	e	Robert Half International, Inc		193,363
4,689	*	Salesforce.com, Inc		293,953
10,915	e*	Sun Microsystems Inc		197,889
6,286	*	Symantec Corp		101,456
7,244	e*	Synopsys, Inc		187,837
1,774	e	Total System Services, Inc		49,672

57

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
10,516	*	VeriSign, Inc	$	395,507
1,600	e*	VMware, Inc (Class A)		135,984
13,918		Waste Management, Inc		454,701
322	e*	WebMD Health Corp (Class A)		13,225
58,718	*	Yahoo!, Inc		1,365,781
		TOTAL BUSINESS SERVICES		46,361,813
CHEMICALS AND ALLIED PRODUCTS - 10.89%
74,176	e	Abbott Laboratories		4,164,982
221	e*	Abraxis Bioscience, Inc		15,198
4,932		Air Products & Chemicals, Inc		486,443
3,694		Albemarle Corp		152,378
709		Alberto-Culver Co		17,399
37,269	e*	Amgen, Inc		1,730,772
886	e*	APP Pharmaceuticals, Inc		9,099
4,266		Avery Dennison Corp		226,695
19,407	e	Avon Products, Inc		767,159
5,351	*	Barr Pharmaceuticals, Inc		284,138
2,563	e*	Biogen Idec, Inc		145,886
95,011		Bristol-Myers Squibb Co		2,519,692
2,331	e	Cabot Corp		77,716
4,027		Celanese Corp (Series A)		170,423
3,075	*	Cephalon, Inc		220,662
1,014	e*	Charles River Laboratories International, Inc		66,721
630	e	Chemtura Corp		4,914
3,020		Church & Dwight Co, Inc		163,291
6,107	e	Clorox Co		397,993
22,836		Colgate-Palmolive Co		1,780,295
7,052		Du Pont (E.I.) de Nemours & Co		310,923
8,383		Ecolab, Inc		429,293
23,620		Eli Lilly & Co		1,261,072
5,204	e	Estee Lauder Cos (Class A)		226,946
15,350	*	Forest Laboratories, Inc		559,508
22,572	*	Genentech, Inc		1,513,904
12,661	*	Genzyme Corp		942,485
45,158	*	Gilead Sciences, Inc		2,077,720
7,575	e*	Hospira, Inc		322,998
2,980	*	Idexx Laboratories, Inc		174,717
2,868	e*	ImClone Systems, Inc		123,324
3,280		International Flavors & Fragrances, Inc		157,866
848	*	Invitrogen Corp		79,212
750		Lubrizol Corp		40,620
86,150		Merck & Co, Inc		5,006,177
8,780	e*	Millennium Pharmaceuticals, Inc		131,524
26,266		Monsanto Co		2,933,650
3,334	*	Mosaic Co		314,530
14,244	*	Mylan Laboratories, Inc		200,271
7,220	e	Nalco Holding Co		174,580
2,645	*	NBTY, Inc		72,473
5,910	e*	PDL BioPharma, Inc		103,543
15,477		Praxair, Inc		1,372,965
60,044		Procter & Gamble Co		4,408,430
3,674		Rohm & Haas Co		194,979
4,993	e	RPM International, Inc		101,358
77,743		Schering-Plough Corp		2,071,074
379	e	Scotts Miracle-Gro Co (Class A)		14,182
5,492	e*	Sepracor, Inc		144,165

58

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
5,326	e	Sherwin-Williams Co	$	309,121
2,052	e	Sigma-Aldrich Corp		112,039
502	e	Valspar Corp		11,315
4,086	*	VCA Antech, Inc		180,724
6,134	e*	Vertex Pharmaceuticals, Inc		142,493
4,661	*	Warner Chilcott Ltd (Class A)		82,640
3,042	e*	Watson Pharmaceuticals, Inc		82,560
34,316		Wyeth		1,516,424
		TOTAL CHEMICALS AND ALLIED PRODUCTS		41,303,661
COAL MINING - 0.49%
6,634		Arch Coal, Inc		298,066
8,730		Consol Energy, Inc		624,370
4,190		Massey Energy Co		149,793
12,707		Peabody Energy Corp		783,259
		TOTAL COAL MINING		1,855,488
COMMUNICATIONS - 1.88%
20,038	*	American Tower Corp (Class A)		853,619
3,562	e	Cablevision Systems Corp (Class A)		87,269
1,440	*	Central European Media Enterprises Ltd (Class A)		167,011
2,488	e	Citizens Communications Co		31,672
5,185	e	Clear Channel Communications, Inc		178,986
86,842	e*	Comcast Corp (Class A)		1,585,735
9,088	e*	Crown Castle International Corp		378,061
2,829	e*	CTC Media, Inc		85,436
34,461	*	DIRECTV Group, Inc		796,738
9,987	*	EchoStar Communications Corp (Class A)		376,710
3,707	e	Global Payments, Inc		172,450
487	e*	IAC/InterActiveCorp		13,110
2,686	*	Leap Wireless International, Inc		125,275
74,029	*	Level 3 Communications, Inc		225,048
9,374	e*	Liberty Global, Inc (Class A)		367,367
17,723	e*	Liberty Media Holding Corp (Interactive A)		338,155
3,081	e*	MetroPCS Communications, Inc		59,925
3,455	*	NeuStar, Inc (Class A)		99,089
8,337	e*	NII Holdings, Inc		402,844
5,094	*	SBA Communications Corp (Class A)		172,381
2,152		Telephone & Data Systems, Inc		134,715
4,076	e*	Time Warner Cable, Inc (Class A)		112,498
236	e*	US Cellular Corp		19,848
13,028	e	Windstream Corp		169,625
13,699	e*	XM Satellite Radio Holdings, Inc (Class A)		167,676
		TOTAL COMMUNICATIONS		7,121,243
DEPOSITORY INSTITUTIONS - 1.13%
722		Bank of Hawaii Corp		36,923
18,833		Bank of New York Mellon Corp		918,297
629		Capitol Federal Financial		19,499
2,714		Commerce Bancorp, Inc		103,512
10,004	e	Hudson City Bancorp, Inc		150,260
8,922		Northern Trust Corp		683,247
7,141	e	People's United Financial, Inc		127,110
15,407	e	State Street Corp		1,251,048
4,873	e	Synovus Financial Corp		117,342
780	e*	TFS Financial Corp		9,313

59

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
34,951		Western Union Co	$	848,610
		TOTAL DEPOSITORY INSTITUTIONS		4,265,161
EATING AND DRINKING PLACES - 0.87%
4,694	e	Brinker International, Inc		91,815
3,167	e	Burger King Holdings, Inc		90,291
3,679	e*	Cheesecake Factory		87,229
6,532	e	Darden Restaurants, Inc		181,002
12,141		McDonald's Corp		715,226
35,526	e*	Starbucks Corp		727,217
9,124	e	Tim Hortons, Inc		336,949
4,025		Wendy's International, Inc		104,006
25,120	e	Yum! Brands, Inc		961,342
		TOTAL EATING AND DRINKING PLACES		3,295,077
EDUCATIONAL SERVICES - 0.20%
6,974	e*	Apollo Group, Inc (Class A)		489,226
4,607	e*	Career Education Corp		115,820
1,913	e*	ITT Educational Services, Inc		163,122
		TOTAL EDUCATIONAL SERVICES		768,168
ELECTRIC, GAS, AND SANITARY SERVICES - 1.75%
32,020	*	AES Corp		684,908
8,008		Allegheny Energy, Inc		509,389
1,704	*	Allied Waste Industries, Inc		18,778
373		Aqua America, Inc		7,908
14,983		Centerpoint Energy, Inc		256,659
6,711		Constellation Energy Group, Inc		688,079
5,998	*	Covanta Holding Corp		165,905
3,080	e	DPL, Inc		91,322
2,263	*	Dynegy, Inc (Class A)		16,158
14,777	e	Exelon Corp		1,206,394
8,425	e*	Mirant Corp		328,407
9,351	e*	NRG Energy, Inc		405,272
14,136		PPL Corp		736,344
2,741	e	Questar Corp		148,288
7,557		Republic Services, Inc		236,912
1,332	e	Sierra Pacific Resources		22,617
4,204	e*	Stericycle, Inc		249,718
24,037		Williams Cos, Inc		860,044
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		6,633,102
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 10.97%
12,192	e*	Advanced Micro Devices, Inc		91,440
15,930	e	Altera Corp		307,768
4,933		Ametek, Inc		231,062
8,586		Amphenol Corp (Class A)		398,133
15,690	e	Analog Devices, Inc		497,373
41,685	*	Apple Computer, Inc		8,256,965
3,970	e*	Avnet, Inc		138,831
853	e	AVX Corp		11,447
22,465	e*	Broadcom Corp (Class A)		587,235
3,856	*	Ciena Corp		131,528
292,702	*	Cisco Systems, Inc		7,923,443
2,935	e	Cooper Industries Ltd (Class A)		155,203
869	e*	Cree, Inc		23,871
7,904	*	Cypress Semiconductor Corp		284,781
1,954	*	Dolby Laboratories, Inc (Class A)		97,153

60

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
856		Eaton Corp	$	82,989
1,979	e*	Energizer Holdings, Inc		221,905
2,103	*	Fairchild Semiconductor International, Inc		30,346
1,752	e*	First Solar, Inc		468,029
2,896	e	Harman International Industries, Inc		213,464
6,437	e	Harris Corp		403,471
32,008		Honeywell International, Inc		1,970,733
3,138	e*	Integrated Device Technology, Inc		35,491
280,115	e	Intel Corp		7,467,866
681	e*	International Rectifier Corp		23,134
3,490	e	Intersil Corp (Class A)		85,435
1,768	e*	Jarden Corp		41,742
5,717	e*	JDS Uniphase Corp		76,036
2,015	e	L-3 Communications Holdings, Inc		213,469
1,479	e	Lincoln Electric Holdings, Inc		105,275
10,686	e	Linear Technology Corp		340,135
21,689	e*	LSI Logic Corp		115,169
22,653	*	Marvell Technology Group Ltd		316,689
10,759	*	MEMC Electronic Materials, Inc		952,064
10,470	e	Microchip Technology, Inc		328,967
11,729	e*	Micron Technology, Inc		85,035
3,814		Molex, Inc		104,122
13,089		National Semiconductor Corp		296,335
17,805	*	Network Appliance, Inc		444,413
3,974	e*	Novellus Systems, Inc		109,563
26,109	e*	Nvidia Corp		888,228
6,867	e*	QLogic Corp		97,511
80,356		Qualcomm, Inc		3,162,009
4,717	e	RadioShack Corp		79,529
4,383	e*	Rambus, Inc		91,780
10,884	*	Sanmina-SCI Corp		19,809
2,560	e*	Silicon Laboratories, Inc		95,821
67,941	e*	Sirius Satellite Radio, Inc		205,861
1,289	e*	Sunpower Corp (Class A)		168,073
69,271		Texas Instruments, Inc		2,313,651
2,849	e*	Thomas & Betts Corp		139,715
3,631	*	Varian Semiconductor Equipment Associates, Inc		134,347
1,246	*	Vishay Intertechnology, Inc		14,217
2,659	e	Whirlpool Corp		217,054
14,286	e	Xilinx, Inc		312,435
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		41,608,150
ENGINEERING AND MANAGEMENT SERVICES - 1.28%
6,468	*	Amylin Pharmaceuticals, Inc		239,316
18,217	*	Celgene Corp		841,808
1,861	e	Corporate Executive Board Co		111,846
4,230		Fluor Corp		616,396
1,180	*	Genpact Ltd		17,971
2,455	e*	Gen-Probe, Inc		154,493
2,901	*	Hewitt Associates, Inc (Class A)		111,079
5,786	*	Jacobs Engineering Group, Inc		553,199
10,604	*	McDermott International, Inc		625,954
10,462	e	Moody's Corp		373,493
16,264	e	Paychex, Inc		589,082
6,918	e	Quest Diagnostics, Inc		365,962
3,592	e*	Shaw Group, Inc		217,100

61

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
827	e*	URS Corp	$	44,931
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		4,862,630
FABRICATED METAL PRODUCTS - 0.41%
1,441	*	Alliant Techsystems, Inc		163,928
4,684		Ball Corp		210,780
7,431	*	Crown Holdings, Inc		190,605
17,749		Illinois Tool Works, Inc		950,281
1,121	e	Stanley Works		54,346
		TOTAL FABRICATED METAL PRODUCTS		1,569,940
FOOD AND KINDRED PRODUCTS - 3.78%
23,275		Anheuser-Busch Cos, Inc		1,218,214
6,579	e	Campbell Soup Co		235,068
73,394		Coca-Cola Co		4,504,190
1,377		General Mills, Inc		78,489
8,948	e	H.J. Heinz Co		417,693
3,502	e*	Hansen Natural Corp		155,104
5,582	e	Hershey Co		219,931
7,769	e	Kellogg Co		407,329
4,078	e	McCormick & Co, Inc		154,597
1,843	e	Pepsi Bottling Group, Inc		72,725
78,575		PepsiCo, Inc		5,963,843
18,690		Sara Lee Corp		300,161
10,109		Wrigley (Wm.) Jr Co		591,882
		TOTAL FOOD AND KINDRED PRODUCTS		14,319,226
FOOD STORES - 0.24%
21,661		Kroger Co		578,565
1,390	e*	Panera Bread Co (Class A)		49,790
6,817	e	Whole Foods Market, Inc		278,134
		TOTAL FOOD STORES		906,489
FORESTRY - 0.00%**
248		Rayonier, Inc		11,716
		TOTAL FORESTRY		11,716
FURNITURE AND FIXTURES - 0.25%
438	e	Hillenbrand Industries, Inc		24,410
2,235	e	HNI Corp		78,359
22,513	e	Johnson Controls, Inc		811,369
958	e	Masco Corp		20,702
		TOTAL FURNITURE AND FIXTURES		934,840
FURNITURE AND HOMEFURNISHINGS STORES - 0.28%
13,229	*	Bed Bath & Beyond, Inc		388,800
4,291	e	Circuit City Stores, Inc		18,022
7,699	e*	GameStop Corp (Class A)		478,185
2,971	e	Steelcase, Inc (Class A)		47,150
4,491	e	Williams-Sonoma, Inc		116,317
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		1,048,474
GENERAL BUILDING CONTRACTORS - 0.03%
626	e	Centex Corp		15,813
83	e*	NVR, Inc		43,492
3,774	e	Pulte Homes, Inc		39,778
		TOTAL GENERAL BUILDING CONTRACTORS		99,083

62

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
GENERAL MERCHANDISE STORES - 2.27%
5,433	e*	Big Lots, Inc	$	86,874
14,740		Costco Wholesale Corp		1,028,262
7,228	e	Family Dollar Stores, Inc		138,994
10,908	e	JC Penney Co, Inc		479,843
5,842	e	Saks, Inc		121,280
41,364	e	Target Corp		2,068,200
21,805		TJX Cos, Inc		626,458
85,246		Wal-Mart Stores, Inc		4,051,742
		TOTAL GENERAL MERCHANDISE STORES		8,601,653
HEALTH SERVICES - 1.95%
3,915	e	AmerisourceBergen Corp		175,666
381	e	Brookdale Senior Living, Inc		10,824
13,801		Cigna Corp		741,528
342	e*	Community Health Systems, Inc		12,606
3,213	*	Covance, Inc		278,310
7,012	e*	Coventry Health Care, Inc		415,461
5,074	e*	DaVita, Inc		285,920
2,982	e*	Edwards Lifesciences Corp		137,142
10,550	*	Express Scripts, Inc		770,150
5,742	e*	Laboratory Corp of America Holdings		433,693
4,080	e*	Lincare Holdings, Inc		143,453
13,144		McKesson Corp		861,063
13,600	*	Medco Health Solutions, Inc		1,379,040
1,160	e	Omnicare, Inc		26,460
2,338	e*	Pediatrix Medical Group, Inc		159,335
4,832		Pharmaceutical Product Development, Inc		195,068
2,852	e*	Sierra Health Services, Inc		119,670
20,329	e*	Tenet Healthcare Corp		103,271
640		Universal Health Services, Inc (Class B)		32,768
12,544	e*	WellPoint, Inc		1,100,485
		TOTAL HEALTH SERVICES		7,381,913
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.14%
3,436	e*	Foster Wheeler Ltd		532,649
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		532,649
HOLDING AND OTHER INVESTMENT OFFICES - 1.85%
1,443	e*	Affiliated Managers Group, Inc		169,495
216	e	Apartment Investment & Management Co (Class A)		7,502
5,249		Duke Realty Corp		136,894
474	e	Essex Property Trust, Inc		46,210
1,363	e	Federal Realty Investment Trust		111,970
5,730		General Growth Properties, Inc		235,961
338		Health Care REIT, Inc		15,105
65,083		iShares Russell 1000 Growth Index Fund		3,955,745
1,630	e	Kilroy Realty Corp		89,585
3,487		Macerich Co		247,786
568	e	Plum Creek Timber Co, Inc		26,151
10,768		Prologis		682,476
424		Public Storage, Inc		31,126
5,838	e	Simon Property Group, Inc		507,089
1,333	e	Taubman Centers, Inc		65,570
6,490	e	UDR, Inc		128,827
6,604		Ventas, Inc		298,831
2,785		WABCO Holdings, Inc		139,501

63

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
3,487	e	Weingarten Realty Investors	$	109,631
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		7,005,455
HOTELS AND OTHER LODGING PLACES - 0.67%
2,708	e	Boyd Gaming Corp		92,262
1,673	e	Choice Hotels International, Inc		55,544
4,996	*	Las Vegas Sands Corp		514,838
15,790		Marriott International, Inc (Class A)		539,702
5,671	e*	MGM Mirage		476,477
1,941	e	Orient-Express Hotels Ltd (Class A)		111,646
9,654		Starwood Hotels & Resorts Worldwide, Inc		425,066
592	e	Wyndham Worldwide Corp		13,948
2,609		Wynn Resorts Ltd		292,547
		TOTAL HOTELS AND OTHER LODGING PLACES		2,522,030
INDUSTRIAL MACHINERY AND EQUIPMENT - 7.89%
2,820	e*	AGCO Corp		191,704
66,287		Applied Materials, Inc		1,177,257
1,590	e	Black & Decker Corp		110,744
18,671	e*	Brocade Communications Systems, Inc		137,045
719	e	Carlisle Cos, Inc		26,625
30,719	e	Caterpillar, Inc		2,228,971
4,993		Cummins, Inc		635,958
1,240		Deere & Co		115,469
109,657	*	Dell, Inc		2,687,693
2,984	e	Diebold, Inc		86,476
3,781		Donaldson Co, Inc		175,363
3,057	e	Dover Corp		140,897
4,353	*	Dresser-Rand Group, Inc		169,985
101,558	*	EMC Corp		1,881,870
2,525		Flowserve Corp		242,905
6,292	*	FMC Technologies, Inc		356,756
55,240	d	General Electric Co		2,047,747
2,893	e	Graco, Inc		107,793
6,223	e*	Grant Prideco, Inc		345,439
129,031		Hewlett-Packard Co		6,513,485
3,581		IDEX Corp		129,382
777		Ingersoll-Rand Co Ltd (Class A)		36,107
52,472		International Business Machines Corp		5,672,223
15,939		International Game Technology		700,200
5,714	e	Jabil Circuit, Inc		87,253
5,341	e	Joy Global, Inc		351,545
2,268		Kennametal, Inc		85,866
6,041	e*	Lam Research Corp		261,152
327	e	Lennox International, Inc		13,544
2,587	e*	Lexmark International, Inc (Class A)		90,183
6,086		Manitowoc Co, Inc		297,179
5,496		Pall Corp		221,599
810	e*	Riverbed Technology, Inc		21,659
7,161	e	Rockwell Automation, Inc		493,823
6,604	e*	SanDisk Corp		219,055
3,317	e*	Scientific Games Corp (Class A)		110,290
9,679		Seagate Technology, Inc		246,815
975	*	Teradata Corp		26,725
4,938	e*	Terex Corp		323,785
2,078	e	Toro Co		113,126
8,686		Trane, Inc		405,723

64

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
6,238	*	Varian Medical Systems, Inc	$	325,374
2,991	e*	VeriFone Holdings, Inc		69,541
3,350	e*	Western Digital Corp		101,204
3,323	e*	Zebra Technologies Corp (Class A)		115,308
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		29,898,843
INSTRUMENTS AND RELATED PRODUCTS - 5.87%
2,812	*	Advanced Medical Optics, Inc		68,978
19,356	*	Agilent Technologies, Inc		711,139
14,628	e	Allergan, Inc		939,703
1,418	e	Applera Corp (Applied Biosystems Group)		48,099
4,960		Bard (C.R.), Inc		470,208
31,537		Baxter International, Inc		1,830,723
2,550	e	Beckman Coulter, Inc		185,640
11,959		Becton Dickinson & Co		999,533
802	e	Cooper Cos, Inc		30,476
11,785	e	Danaher Corp		1,034,016
7,434		Dentsply International, Inc		334,679
93		DRS Technologies, Inc		5,047
31,692		Emerson Electric Co		1,795,669
5,540	e	Garmin Ltd		537,380
1,797	e*	Intuitive Surgical, Inc		583,127
52,363		Johnson & Johnson		3,492,612
9,185		Kla-Tencor Corp		442,350
55,454		Medtronic, Inc		2,787,673
1,815	*	Mettler-Toledo International, Inc		206,547
2,585	e*	Millipore Corp		189,170
3,007	e	National Instruments Corp		100,223
1,238	e	PerkinElmer, Inc		32,213
8,616	e	Pitney Bowes, Inc		327,753
3,710	e*	Resmed, Inc		194,886
3,567	*	Respironics, Inc		233,567
8,025		Rockwell Collins, Inc		577,559
4,232	e	Roper Industries, Inc		264,669
16,225	*	St. Jude Medical, Inc		659,384
14,785		Stryker Corp		1,104,735
2,051	e*	Techne Corp		135,469
3,975	*	Teradyne, Inc		41,102
10,057	*	Thermo Electron Corp		580,088
5,688	*	Trimble Navigation Ltd		172,005
4,847	*	Waters Corp		383,252
11,352	e*	Zimmer Holdings, Inc		750,935
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		22,250,609
INSURANCE AGENTS, BROKERS AND SERVICE - 0.04%
5,628		Brown & Brown, Inc		132,258
830	e	Gallagher (Arthur J.) & Co		20,078
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		152,336
INSURANCE CARRIERS - 2.28%
847	e	ACE Ltd		52,328
19,880		Aetna, Inc		1,147,672
21,484		Aflac, Inc		1,345,543
7,625		American International Group, Inc		444,538
164	e	CNA Financial Corp		5,530
395	e	Erie Indemnity Co (Class A)		20,497
107		Hanover Insurance Group, Inc		4,901

65

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
2,594	e	HCC Insurance Holdings, Inc	$	74,396
5,529	*	Health Net, Inc		267,051
8,059	*	Humana, Inc		606,923
650		PartnerRe Ltd		53,645
2,206	*	Philadelphia Consolidated Holding Co		86,806
777	e	Principal Financial Group		53,489
5,345	e	Prudential Financial, Inc		497,299
465		Transatlantic Holdings, Inc		33,792
64,577		UnitedHealth Group, Inc		3,758,381
1,893		W.R. Berkley Corp		56,430
2,268	*	WellCare Health Plans, Inc		96,186
983	e	XL Capital Ltd (Class A)		49,455
		TOTAL INSURANCE CARRIERS		8,654,862
JUSTICE, PUBLIC ORDER AND SAFETY - 0.04%
5,678	*	Corrections Corp of America		167,558
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		167,558
LEATHER AND LEATHER PRODUCTS - 0.18%
17,794	*	Coach, Inc		544,141
3,815	e*	CROCS, Inc		140,430
		TOTAL LEATHER AND LEATHER PRODUCTS		684,571
METAL MINING - 0.72%
2,081	e	Cleveland-Cliffs, Inc		209,765
2,242		Foundation Coal Holdings, Inc		117,705
15,225		Freeport-McMoRan Copper & Gold, Inc (Class B)		1,559,649
8,652		Newmont Mining Corp		422,477
1,185	*	Patriot Coal Corp		49,462
3,510	e	Southern Copper Corp		369,006
		TOTAL METAL MINING		2,728,064
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.06%
2,143	e	Hasbro, Inc		54,818
8,578		Mattel, Inc		163,325
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		218,143
MISCELLANEOUS RETAIL - 1.97%
14,792	e*	Amazon.com, Inc		1,370,331
443		Barnes & Noble, Inc		15,261
16,544	e	Best Buy Co, Inc		871,042
3,890	e*	Coldwater Creek, Inc		26,024
37,883		CVS Corp		1,505,849
3,640	e*	Dick's Sporting Goods, Inc		101,046
4,907	e*	Dollar Tree Stores, Inc		127,189
2,180	e	MSC Industrial Direct Co (Class A)		88,225
2,094	e*	Nutri/System, Inc		56,496
13,708	e*	Office Depot, Inc		190,678
1,729	e	OfficeMax, Inc		35,721
6,310		Petsmart, Inc		148,474
34,305		Staples, Inc		791,416
6,532	e	Tiffany & Co		300,668
48,296		Walgreen Co		1,839,112
		TOTAL MISCELLANEOUS RETAIL		7,467,532
MOTION PICTURES - 0.93%
7,643	e*	Discovery Holding Co (Class A)		192,145

66

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
2,703	*	DreamWorks Animation SKG, Inc (Class A)	$	69,035
72,254		News Corp (Class A)		1,480,484
3,094	e	Regal Entertainment Group (Class A)		55,909
26,015		Time Warner, Inc		429,508
29,594	*	Viacom, Inc (Class B)		1,299,768
		TOTAL MOTION PICTURES		3,526,849
NONDEPOSITORY INSTITUTIONS - 1.18%
50,004	e	American Express Co		2,601,208
1,015	e*	AmeriCredit Corp		12,982
4,226		CapitalSource, Inc		74,335
1,244	e	Discover Financial Services		18,760
2,912	e	First Marblehead Corp		44,554
12,454		Freddie Mac		424,308
2,740	*	GLG Partners Inc		37,264
19,680	e*	SLM Corp		396,355
11,944		Textron, Inc		851,607
		TOTAL NONDEPOSITORY INSTITUTIONS		4,461,373
NONMETALLIC MINERALS, EXCEPT FUELS - 0.10%
4,999	e	Vulcan Materials Co		395,371
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		395,371
OIL AND GAS EXTRACTION - 5.56%
15,570		Baker Hughes, Inc		1,262,727
14,062	e	BJ Services Co		341,144
10,556	*	Cameron International Corp		508,060
2,325	e*	Cheniere Energy, Inc		75,888
12,819		Chesapeake Energy Corp		502,505
1,537	e*	CNX Gas Corp		49,107
620	e*	Continental Resources, Inc		16,201
11,662	*	Denbury Resources, Inc		346,945
3,272	e	Diamond Offshore Drilling, Inc		464,624
6,622	e	ENSCO International, Inc		394,804
4,488	e	Equitable Resources, Inc		239,121
4,206	*	Global Industries Ltd		90,093
44,288		Halliburton Co		1,678,958
3,378	e*	Helix Energy Solutions Group, Inc		140,187
11,901	*	Nabors Industries Ltd		325,968
17,172	*	National Oilwell Varco, Inc		1,261,455
12,854		Noble Corp		726,380
2,565	*	Oceaneering International, Inc		172,753
5,981	*	Pride International, Inc		202,756
2,420	e*	Quicksilver Resources, Inc		144,208
7,098		Range Resources Corp		364,553
3,691	e	Rowan Cos, Inc		145,647
56,713		Schlumberger Ltd		5,578,858
9,614		Smith International, Inc		709,994
8,142	*	Southwestern Energy Co		453,672
3,795	*	Superior Energy Services		130,624
3,919	*	Tetra Technologies, Inc		61,019
1,824	e	Tidewater, Inc		100,065
15,002		Transocean, Inc		2,147,536
1,845	*	Unit Corp		85,331
1,404	e	W&T Offshore, Inc		42,064
16,173	*	Weatherford International Ltd		1,109,468

67

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
23,205		XTO Energy, Inc	$	1,191,809
		TOTAL OIL AND GAS EXTRACTION		21,064,524
PAPER AND ALLIED PRODUCTS - 0.22%
10,830	e*	Domtar Corporation		83,283
9,332	e	Kimberly-Clark Corp		647,081
4,211		Packaging Corp of America		118,750
		TOTAL PAPER AND ALLIED PRODUCTS		849,114
PERSONAL SERVICES - 0.14%
5,126	e	Cintas Corp		172,336
15,483	e	H&R Block, Inc		287,519
1,712	e	Weight Watchers International, Inc		77,348
		TOTAL PERSONAL SERVICES		537,203
PETROLEUM AND COAL PRODUCTS - 2.08%
4,462	e	Cabot Oil & Gas Corp		180,131
55,307		Exxon Mobil Corp		5,181,713
2,606	e	Frontier Oil Corp		105,751
2,334	e	Holly Corp		118,777
1,004	e	Noble Energy, Inc		79,838
630	*	SandRidge Energy, Inc		22,592
5,821	e	Sunoco, Inc		421,673
6,581		Tesoro Corp		313,914
20,775		Valero Energy Corp		1,454,873
585	e	Western Refining, Inc		14,163
		TOTAL PETROLEUM AND COAL PRODUCTS		7,893,425
PRIMARY METAL INDUSTRIES - 1.12%
5,684	*	AK Steel Holding Corp		262,828
4,911	e	Allegheny Technologies, Inc		424,310
1,204	e	Carpenter Technology Corp		90,505
2,793	e*	CommScope, Inc		137,444
75,436		Corning, Inc		1,809,710
2,618	e*	General Cable Corp		191,847
826	e	Hubbell, Inc (Class B)		42,622
3,336		Nucor Corp		197,558
6,591		Precision Castparts Corp		914,172
1,632	e	Steel Dynamics, Inc		97,218
3,284	e	Titanium Metals Corp		86,862
		TOTAL PRIMARY METAL INDUSTRIES		4,255,076
PRINTING AND PUBLISHING - 0.34%
2,975		Dun & Bradstreet Corp		263,674
1,492	e	Harte-Hanks, Inc		25,812
2,672	e	John Wiley & Sons, Inc (Class A)		114,468
16,455	e	McGraw-Hill Cos, Inc		720,894
2,248		Meredith Corp		123,595
560	*	MSCI, Inc		21,504
1,461	e	New York Times Co (Class A)		25,611
		TOTAL PRINTING AND PUBLISHING		1,295,558
RAILROAD TRANSPORTATION - 0.81%
16,310	e	Burlington Northern Santa Fe Corp		1,357,481
3,453		CSX Corp		151,863
2,260	*	Kansas City Southern Industries, Inc		77,586
9,580		Norfolk Southern Corp		483,215

68

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
7,927		Union Pacific Corp	$	995,790
		TOTAL RAILROAD TRANSPORTATION		3,065,935
REAL ESTATE - 0.17%
9,789	e*	CB Richard Ellis Group, Inc (Class A)		210,953
3,551	e	Forest City Enterprises, Inc (Class A)		157,806
1,812	e	Jones Lang LaSalle, Inc		128,942
3,694	e*	St. Joe Co		131,174
		TOTAL REAL ESTATE		628,875
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.42%
10,382	*	Goodyear Tire & Rubber Co		292,980
7,131	e	Newell Rubbermaid, Inc		184,550
17,092		Nike, Inc (Class B)		1,097,990
937		Sealed Air Corp		21,682
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,597,202
SECURITY AND COMMODITY BROKERS - 3.26%
1,753	e	BlackRock, Inc		380,050
6,646		Broadridge Financial Solutions, Inc		149,070
45,189		Charles Schwab Corp		1,154,579
2,646		CME Group, Inc		1,815,156
7,797	e*	E*Trade Financial Corp		27,679
5,194	e	Eaton Vance Corp		235,860
4,179		Federated Investors, Inc (Class B)		172,008
7,951	e	Franklin Resources, Inc		909,833
8,625		Goldman Sachs Group, Inc		1,854,806
3,368	*	IntercontinentalExchange, Inc		648,340
16,000		Invesco Ltd		502,080
2,015	e*	Investment Technology Group, Inc		95,894
6,358	e	Janus Capital Group, Inc		208,860
2,428		Lazard Ltd (Class A)		98,771
2,688		Legg Mason, Inc		196,627
10,487	e	Merrill Lynch & Co, Inc		562,942
2,270	e*	MF Global Ltd		71,437
2,748	e	Morgan Stanley		145,946
4,461	*	Nasdaq Stock Market, Inc		220,775
4,414		Nymex Holdings, Inc		589,755
12,653	e	NYSE Euronext		1,110,554
6,176	e	SEI Investments Co		198,682
12,738		T Rowe Price Group, Inc		775,489
11,975	e	TD Ameritrade Holding Corp		240,219
		TOTAL SECURITY AND COMMODITY BROKERS		12,365,412
SPECIAL TRADE CONTRACTORS - 0.06%
8,131	e*	Quanta Services, Inc		213,357
		TOTAL SPECIAL TRADE CONTRACTORS		213,357
STONE, CLAY, AND GLASS PRODUCTS - 0.87%
32,534		3M Co		2,743,267
2,432	e	Eagle Materials, Inc		86,287
6,671	e	Gentex Corp		118,544
7,081	*	Owens-Illinois, Inc		350,510
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		3,298,608
TOBACCO PRODUCTS - 1.29%
57,897		Altria Group, Inc		4,375,855
3,202	e	Loews Corp (Carolina Group)		273,131

69

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
4,340		UST, Inc	$	237,832
		TOTAL TOBACCO PRODUCTS		4,886,818
TRANSPORTATION BY AIR - 0.51%
11,909	e*	AMR Corp		167,083
5,091	e*	Continental Airlines, Inc (Class B)		113,275
720		Copa Holdings S.A. (Class A)		27,050
12,645	e*	Delta Air Lines, Inc		188,284
12,380		FedEx Corp		1,103,925
8,831	*	Northwest Airlines Corp		128,138
6,782	e	Southwest Airlines Co		82,740
3,158	e	UAL Corp		112,614
		TOTAL TRANSPORTATION BY AIR		1,923,109
TRANSPORTATION EQUIPMENT - 3.04%
2,154	e	Autoliv, Inc		113,537
4,526	*	BE Aerospace, Inc		239,425
37,953		Boeing Co		3,319,369
2,718		General Dynamics Corp		241,875
5,999	e	Goodrich Corp		423,589
11,579	e	Harley-Davidson, Inc		540,855
3,862	e	Harsco Corp		247,438
966	e	ITT Industries, Inc		63,795
17,040		Lockheed Martin Corp		1,793,630
1,069		Northrop Grumman Corp		84,066
3,563	e	Oshkosh Truck Corp		168,387
17,873	e	Paccar, Inc		973,721
6,162	*	Pactiv Corp		164,094
11,265	e	Raytheon Co		683,786
2,852	*	Spirit Aerosystems Holdings, Inc (Class A)		98,394
1,524	e	Thor Industries, Inc		57,927
3,039	e	Trinity Industries, Inc		84,363
29,310		United Technologies Corp		2,243,387
		TOTAL TRANSPORTATION EQUIPMENT		11,541,638
TRANSPORTATION SERVICES - 0.27%
8,274		CH Robinson Worldwide, Inc		447,789
10,256	e	Expeditors International Washington, Inc		458,238
1,000	e	GATX Corp		36,680
4,598		UTI Worldwide, Inc		90,121
		TOTAL TRANSPORTATION SERVICES		1,032,828
TRUCKING AND WAREHOUSING - 0.68%
1,801	e	Con-way, Inc		74,814
4,407	e	J.B. Hunt Transport Services, Inc		121,413
2,479		Landstar System, Inc		104,490
32,432	e	United Parcel Service, Inc (Class B)		2,293,591
		TOTAL TRUCKING AND WAREHOUSING		2,594,308
WATER TRANSPORTATION - 0.16%
8,705		Carnival Corp		387,285
2,234	e	Frontline Ltd		107,232
2,689	*	Kirby Corp		124,985
		TOTAL WATER TRANSPORTATION		619,502
WHOLESALE TRADE-DURABLE GOODS - 0.29%
3,159	e*	Arrow Electronics, Inc		124,086

70

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index
SHARES		COMPANY		VALUE
1,326	e	BorgWarner, Inc	$	64,192
2,039	e	Martin Marietta Materials, Inc		270,371
7,149	e*	Patterson Cos, Inc		242,709
2,139	e	Pool Corp		42,416
513		Reliance Steel & Aluminum Co		27,805
2,796	e	W.W. Grainger, Inc		244,706
2,343	e*	WESCO International, Inc		92,877
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,109,162
WHOLESALE TRADE-NONDURABLE GOODS - 0.78%
3,375		Airgas, Inc		175,871
2,168	e*	Bare Escentuals, Inc		52,574
2,678	e	Brown-Forman Corp (Class B)		198,467
17,482		Cardinal Health, Inc		1,009,586
341	e	Dean Foods Co		8,818
6,265	*	Endo Pharmaceuticals Holdings, Inc		167,088
4,228	e*	Henry Schein, Inc		259,599
2,486		Herbalife Ltd		100,136
29,638	e	Sysco Corp		925,002
1,832	e*	Tractor Supply Co		65,824
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,962,965
		TOTAL COMMON STOCKS
		(Cost $336,075,095)		376,968,821
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 1.30%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.89%
$        3,390,000		Federal Home Loan Bank (FHLB), 01/02/08		3,390,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.41%
1,551,881		State Street Navigator Securities Lending Prime Portfolio		1,551,881
		TOTAL SHORT-TERM INVESTMENTS		4,941,881
		(Cost $4,941,575)
		TOTAL PORTFOLIO - 100.72%
		(Cost $341,016,670)		381,910,702
		OTHER ASSETS & LIABILITIES, NET - (0.72)%		(2,724,103	)
		NET ASSETS - 100.00%	$	379,186,599
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing
	**	Percentage 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 $189,057.
	e	All or a portion of these securities are out on loan.
		At December 31, 2007, the unrealized appreciation on investments was $40,894,032, consisting of
		gross unrealized appreciation of $ 61,348,480 and gross unrealized depreciation of $20,454,448.

71

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP VALUE INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.38%
AMUSEMENT AND RECREATION SERVICES - 0.62%
4,853		Harrah's Entertainment, Inc	$	430,704
2,253		International Speedway Corp (Class A)		92,779
70,035		Walt Disney Co		2,260,730
1,870	e	Warner Music Group Corp		11,332
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,795,545
APPAREL AND ACCESSORY STORES - 0.21%
954	e*	AnnTaylor Stores Corp		24,384
9,903	e	Foot Locker, Inc		135,275
37,558		Gap, Inc		799,234
		TOTAL APPAREL AND ACCESSORY STORES		958,893
APPAREL AND OTHER TEXTILE PRODUCTS - 0.14%
6,820	e	Jones Apparel Group, Inc		109,052
6,064		Liz Claiborne, Inc		123,402
5,676		VF Corp		389,714
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		622,168
AUTO REPAIR, SERVICES AND PARKING - 0.06%
6,852	e*	Hertz Global Holdings, Inc		108,878
3,882		Ryder System, Inc		182,493
		TOTAL AUTO REPAIR, SERVICES AND PARKING		291,371
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.05%
9,733	*	Autonation, Inc		152,419
700	*	Copart, Inc		29,785
3,394	e	Penske Auto Group, Inc		59,259
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		241,463
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.26%
44,610		Home Depot, Inc		1,201,793
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		1,201,793
BUSINESS SERVICES - 1.18%
3,101	*	Affiliated Computer Services, Inc (Class A)		139,855
5,173	*	Avis Budget Group, Inc		67,249
9,744		CA, Inc		243,113
12,289	e*	Cadence Design Systems, Inc		209,036
10,619	*	Computer Sciences Corp		525,322
3,197	e*	Compuware Corp		28,389
8,055	*	Convergys Corp		132,585
12,796		Electronic Data Systems Corp		265,261
12,433	*	Expedia, Inc		393,131
3,490	e	Fair Isaac Corp		112,204
1,693		Fidelity National Information Services, Inc		70,412
1,434	e*	Getty Images, Inc		41,586
1,182		IMS Health, Inc		27,233
10,055	e*	Interpublic Group of Cos, Inc		81,546

72

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
9,613	*	Juniper Networks, Inc	$	319,152
500	e*	Kinetic Concepts, Inc		26,780
10,059	e*	NCR Corp		252,481
19,703	*	Novell, Inc		135,360
41,593	*	Sun Microsystems Inc		754,081
48,374	*	Symantec Corp		780,756
23,891	*	Unisys Corp		113,004
5,556	e*	United Rentals, Inc		102,008
400	e*	VMware, Inc (Class A)		33,996
14,412		Waste Management, Inc		470,840
		TOTAL BUSINESS SERVICES		5,325,380
CHEMICALS AND ALLIED PRODUCTS - 7.80%
7,114		Air Products & Chemicals, Inc		701,654
4,153		Alberto-Culver Co		101,915
19,698	*	Amgen, Inc		914,775
1,008		Avery Dennison Corp		53,565
1,914		Avon Products, Inc		75,660
14,535	*	Biogen Idec, Inc		827,332
1,012	e	Cabot Corp		33,740
2,640		Celanese Corp (Series A)		111,725
2,777	e*	Charles River Laboratories International, Inc		182,727
14,562		Chemtura Corp		113,584
400		Church & Dwight Co, Inc		21,628
1,024		Clorox Co		66,734
2,618		Colgate-Palmolive Co		204,099
2,765		Cytec Industries, Inc		170,269
59,865		Dow Chemical Co		2,359,878
48,722		Du Pont (E.I.) de Nemours & Co		2,148,153
5,168		Eastman Chemical Co		315,713
31,816		Eli Lilly & Co		1,698,656
4,946	e	FMC Corp		269,804
5,796	e	Huntsman Corp		148,957
1,870		International Flavors & Fragrances, Inc		90,003
1,948	*	Invitrogen Corp		181,963
16,095	*	King Pharmaceuticals, Inc		164,813
3,261		Lubrizol Corp		176,616
23,615		Merck & Co, Inc		1,372,268
9,376	e*	Millennium Pharmaceuticals, Inc		140,452
5,441	*	Mosaic Co		513,304
441,366		Pfizer, Inc		10,032,249
10,346		PPG Industries, Inc		726,600
119,627		Procter & Gamble Co		8,783,014
4,318		Rohm & Haas Co		229,156
941		RPM International, Inc		19,102
2,502	e	Scotts Miracle-Gro Co (Class A)		93,625
5,662		Sigma-Aldrich Corp		309,145
5,837	e	Valspar Corp		131,566
2,405	*	Watson Pharmaceuticals, Inc		65,272
1,412	e	Westlake Chemical Corp		26,814
40,061		Wyeth		1,770,296
		TOTAL CHEMICALS AND ALLIED PRODUCTS		35,346,826
COMMUNICATIONS - 7.34%
388,049		AT&T, Inc		16,127,316
8,975	e	Cablevision Systems Corp (Class A)		219,888
300	*	Central European Media Enterprises Ltd (Class A)		34,794

73

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
6,615		CenturyTel, Inc	$	274,258
17,927		Citizens Communications Co		228,211
24,739		Clear Channel Communications, Inc		853,990
2,200	e*	Clearwire Corp (Class A)		30,162
71,709	*	Comcast Corp (Class A)		1,309,406
2,360	e*	Crown Castle International Corp		98,176
9,729		Embarq Corp		481,877
1,210	e	Hearst-Argyle Television, Inc		26,753
10,353	*	IAC/InterActiveCorp		278,703
11,751	e*	Liberty Global, Inc (Class A)		460,522
8,122	*	Liberty Media Corp - Capital (Series A)		946,132
15,286	e*	Liberty Media Holding Corp (Interactive A)		291,657
100,514		Qwest Communications International, Inc		704,603
176,856		Sprint Nextel Corp		2,322,119
3,727		Telephone & Data Systems, Inc		233,310
4,013	e*	Time Warner Cable, Inc (Class A)		110,759
689	e*	US Cellular Corp		57,945
182,635		Verizon Communications, Inc		7,979,323
13,571		Windstream Corp		176,694
		TOTAL COMMUNICATIONS		33,246,598
DEPOSITORY INSTITUTIONS - 13.67%
7,780	e	Associated Banc-Corp		210,760
5,513		Astoria Financial Corp		128,288
5,335		Bancorpsouth, Inc		125,959
279,530		Bank of America Corp		11,533,408
2,062		Bank of Hawaii Corp		105,451
46,401		Bank of New York Mellon Corp		2,262,513
34,747		BB&T Corp		1,065,690
1,512	e	BOK Financial Corp		78,170
383		Capitol Federal Financial		11,873
311,225		Citigroup, Inc		9,162,464
2,755	e	City National Corp		164,060
9,511	e	Colonial Bancgroup, Inc		128,779
9,533		Comerica, Inc		414,971
8,337		Commerce Bancorp, Inc		317,973
4,467		Commerce Bancshares, Inc		200,390
3,588	e	Cullen/Frost Bankers, Inc		181,768
4,021	e	East West Bancorp, Inc		97,429
34,436		Fifth Third Bancorp		865,377
403		First Citizens Bancshares, Inc (Class A)		58,778
7,732	e	First Horizon National Corp		140,336
10,493	e	Fulton Financial Corp		117,731
20,551		Hudson City Bancorp, Inc		308,676
22,440		Huntington Bancshares, Inc		331,214
6,314	e	IndyMac Bancorp, Inc		37,568
215,134		JPMorgan Chase & Co		9,390,599
24,858		Keycorp		582,920
4,342		M&T Bank Corp		354,177
15,849		Marshall & Ilsley Corp		419,682
5,283	*	Metavante Technologies, Inc		123,200
36,650		National City Corp		603,259
20,670	e	New York Community Bancorp, Inc		363,379
2,126		Northern Trust Corp		162,809
4,275	e	People's United Financial, Inc		76,095
21,909		PNC Financial Services Group, Inc		1,438,326
16,519		Popular, Inc		175,101

74

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
44,353		Regions Financial Corp	$	1,048,948
26,263	e	Sovereign Bancorp, Inc		299,398
4,853		State Street Corp		394,064
22,563		SunTrust Banks, Inc		1,409,962
10,916		Synovus Financial Corp		262,857
7,760	e	TCF Financial Corp		139,137
4,829	e*	TFS Financial Corp		57,658
2,948	e	UnionBanCal Corp		144,187
109,439		US Bancorp		3,473,594
6,908	e	Valley National Bancorp		131,666
125,252		Wachovia Corp		4,763,334
5,691	e	Washington Federal, Inc		120,137
55,395		Washington Mutual, Inc		753,926
3,216	e	Webster Financial Corp		102,816
214,041		Wells Fargo & Co		6,461,898
2,461		Western Union Co		59,753
4,531	e	Whitney Holding Corp		118,486
4,176	e	Wilmington Trust Corp		146,995
6,555		Zions Bancorporation		306,053
		TOTAL DEPOSITORY INSTITUTIONS		61,934,042
EATING AND DRINKING PLACES - 0.77%
59,518		McDonald's Corp		3,506,205
		TOTAL EATING AND DRINKING PLACES		3,506,205
ELECTRIC, GAS, AND SANITARY SERVICES - 6.75%
5,101		AGL Resources, Inc		192,002
7,035	e	Alliant Energy Corp		286,254
14,563	*	Allied Waste Industries, Inc		160,484
13,145		Ameren Corp		712,590
25,026		American Electric Power Co, Inc		1,165,211
7,831		Aqua America, Inc		166,017
5,603	e	Atmos Energy Corp		157,108
13,169		CMS Energy Corp		228,877
17,125		Consolidated Edison, Inc		836,556
2,563		Constellation Energy Group, Inc		262,784
36,820		Dominion Resources, Inc		1,747,109
3,640	e	DPL, Inc		107,926
10,557		DTE Energy Co		464,086
79,019		Duke Energy Corp		1,593,813
18,072	*	Dynegy, Inc (Class A)		129,034
20,442		Edison International		1,090,990
43,638		El Paso Corp		752,319
4,498		Energen Corp		288,907
10,057		Energy East Corp		273,651
12,442		Entergy Corp		1,487,068
23,135		Exelon Corp		1,888,741
19,163		FirstEnergy Corp		1,386,251
25,552		FPL Group, Inc		1,731,915
5,205	e	Great Plains Energy, Inc		152,611
4,833	e	Hawaiian Electric Industries, Inc		110,047
4,846		Integrys Energy Group, Inc		250,490
11,475		MDU Resources Group, Inc		316,825
5,110	e*	Mirant Corp		199,188
5,001	e	National Fuel Gas Co		233,447
17,229		NiSource, Inc		325,456
9,462		Northeast Utilities		296,255

75

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,645	e*	NRG Energy, Inc	$	114,634
7,242	e	NSTAR		262,305
6,114	e	OGE Energy Corp		221,877
6,360	e	Oneok, Inc		284,737
12,027		Pepco Holdings, Inc		352,752
22,078		PG&E Corp		951,341
6,364		Pinnacle West Capital Corp		269,897
6,389		PPL Corp		332,803
16,289		Progress Energy, Inc		788,876
15,899		Public Service Enterprise Group, Inc		1,561,918
7,566		Puget Energy, Inc		207,535
6,914		Questar Corp		374,047
21,735	*	Reliant Energy, Inc		570,326
1,372		Republic Services, Inc		43,012
7,311		SCANA Corp		308,159
16,618		Sempra Energy		1,028,322
12,309	e	Sierra Pacific Resources		209,007
47,288		Southern Co		1,832,410
6,241		Southern Union Co		183,236
13,223		TECO Energy, Inc		227,568
6,471	e	UGI Corp		176,335
5,005	e	Vectren Corp		145,195
6,069		Williams Cos, Inc		217,149
7,337		Wisconsin Energy Corp		357,385
25,492		Xcel Energy, Inc		575,354
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		30,590,192
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.81%
7,577	*	ADC Telecommunications, Inc		117,822
22,437	e*	Advanced Micro Devices, Inc		168,278
33,107	*	Atmel Corp		143,022
3,794	*	Avnet, Inc		132,676
1,413	e	AVX Corp		18,962
7,847		Cooper Industries Ltd (Class A)		414,949
4,341	e*	Cree, Inc		119,247
8,134		Eaton Corp		788,591
1,027	e*	Energizer Holdings, Inc		115,158
3,767	*	Fairchild Semiconductor International, Inc		54,358
6,885		Honeywell International, Inc		423,909
7,105	e*	Integrated Device Technology, Inc		80,358
3,087	e*	International Rectifier Corp		104,865
3,501	e	Intersil Corp (Class A)		85,704
2,442	e*	Jarden Corp		57,656
5,220	e*	JDS Uniphase Corp		69,426
5,151		L-3 Communications Holdings, Inc		545,697
839	e	Lincoln Electric Holdings, Inc		59,720
20,561	e*	LSI Logic Corp		109,179
32,129	e*	Micron Technology, Inc		232,935
3,281		Molex, Inc		89,571
145,684		Motorola, Inc		2,336,771
3,435	e*	Novellus Systems, Inc		94,703
1,600	*	QLogic Corp		22,720
2,258	e	RadioShack Corp		38,070
2,066	e*	Rambus, Inc		43,262
31,205	*	Sanmina-SCI Corp		56,793
2,226		Teleflex, Inc		140,260
25,770	*	Tellabs, Inc		168,536

76

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
31,128		Tyco Electronics Ltd	$	1,155,783
9,107	*	Vishay Intertechnology, Inc		103,911
1,435	e	Whirlpool Corp		117,139
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		8,210,031
ENGINEERING AND MANAGEMENT SERVICES - 0.18%
2,589	*	Hewitt Associates, Inc (Class A)		99,133
10,745	*	KBR, Inc		416,906
1,000		Quest Diagnostics, Inc		52,900
450	e*	Shaw Group, Inc		27,198
3,706	e*	URS Corp		201,347
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		797,484
FABRICATED METAL PRODUCTS - 0.48%
459	*	Alliant Techsystems, Inc		52,216
7,302		Commercial Metals Co		215,044
3,097		Crane Co		132,861
7,850		Illinois Tool Works, Inc		420,289
10,778		Parker Hannifin Corp		811,691
6,286	e	Pentair, Inc		218,816
3,424		Snap-On, Inc		165,174
3,567		Stanley Works		172,928
		TOTAL FABRICATED METAL PRODUCTS		2,189,019
FOOD AND KINDRED PRODUCTS - 3.55%
17,706		Anheuser-Busch Cos, Inc		926,732
41,005		Archer Daniels Midland Co		1,903,862
7,622		Bunge Ltd		887,277
6,097		Campbell Soup Co		217,846
49,401		Coca-Cola Co		3,031,739
19,430		Coca-Cola Enterprises, Inc		505,763
31,287		ConAgra Foods, Inc		744,318
12,029	*	Constellation Brands, Inc (Class A)		284,366
4,881	e	Corn Products International, Inc		179,377
11,654		Del Monte Foods Co		110,247
18,641		General Mills, Inc		1,062,537
9,384		H.J. Heinz Co		438,045
3,375		Hershey Co		132,975
4,639	e	Hormel Foods Corp		187,787
3,447		J.M. Smucker Co		177,314
5,181		Kellogg Co		271,640
101,097		Kraft Foods, Inc (Class A)		3,298,795
2,648		McCormick & Co, Inc		100,386
6,764		Molson Coors Brewing Co (Class B)		349,158
6,535		Pepsi Bottling Group, Inc		257,871
3,494	e	PepsiAmericas, Inc		116,420
21,276		Sara Lee Corp		341,693
6,998	e*	Smithfield Foods, Inc		202,382
16,409		Tyson Foods, Inc (Class A)		251,550
1,906		Wrigley (Wm.) Jr Co		111,596
		TOTAL FOOD AND KINDRED PRODUCTS		16,091,676
FOOD STORES - 0.42%
16,175		Kroger Co		432,034
27,720		Safeway, Inc		948,301
13,423		Supervalu, Inc		503,631
		TOTAL FOOD STORES		1,883,966

77

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
FORESTRY - 0.27%
4,492		Rayonier, Inc	$	212,202
13,587		Weyerhaeuser Co		1,001,905
		TOTAL FORESTRY		1,214,107
FURNITURE AND FIXTURES - 0.25%
3,261	e	Hillenbrand Industries, Inc		181,736
7,564		Johnson Controls, Inc		272,607
10,366	e	Leggett & Platt, Inc		180,783
22,120	e	Masco Corp		478,013
		TOTAL FURNITURE AND FIXTURES		1,113,139
FURNITURE AND HOMEFURNISHINGS STORES - 0.06%
5,418	e	Circuit City Stores, Inc		22,756
3,440	*	Mohawk Industries, Inc		255,936
797	e	Steelcase, Inc (Class A)		12,648
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		291,340
GENERAL BUILDING CONTRACTORS - 0.27%
7,986	e	Centex Corp		201,726
20,187		DR Horton, Inc		265,863
5,113	e	KB Home		110,441
8,492		Lennar Corp (Class A)		151,922
1,904	e	MDC Holdings, Inc		70,696
146	e*	NVR, Inc		76,504
9,192	e	Pulte Homes, Inc		96,884
3,290		Ryland Group, Inc		90,640
8,049	e*	Toll Brothers, Inc		161,463
		TOTAL GENERAL BUILDING CONTRACTORS		1,226,139
GENERAL MERCHANDISE STORES - 0.77%
4,097	*	BJ's Wholesale Club, Inc		138,602
8,659		Costco Wholesale Corp		604,052
3,810	e	Dillard's, Inc (Class A)		71,552
27,532		Macy's, Inc		712,253
1,101	e	Saks, Inc		22,857
40,403		Wal-Mart Stores, Inc		1,920,355
		TOTAL GENERAL MERCHANDISE STORES		3,469,671
HEALTH SERVICES - 0.65%
6,294	e	AmerisourceBergen Corp		282,412
1,987	e	Brookdale Senior Living, Inc		56,451
5,497	e*	Community Health Systems, Inc		202,619
900	*	Coventry Health Care, Inc		53,325
15,489	e	Health Management Associates, Inc (Class A)		92,624
4,122	*	LifePoint Hospitals, Inc		122,588
1,698		McKesson Corp		111,236
6,585	e	Omnicare, Inc		150,204
6,789	e*	Tenet Healthcare Corp		34,488
2,213		Universal Health Services, Inc (Class B)		113,306
19,728	*	WellPoint, Inc		1,730,737
		TOTAL HEALTH SERVICES		2,949,990
HOLDING AND OTHER INVESTMENT OFFICES - 4.27%
9,700	e	Allied Capital Corp		208,550
6,232		AMB Property Corp		358,714

78

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
25,400	e	Annaly Mortgage Management, Inc	$	461,772
5,583	e	Apartment Investment & Management Co (Class A)		193,898
4,830		AvalonBay Communities, Inc		454,696
6,535		Boston Properties, Inc		599,978
5,500		Brandywine Realty Trust		98,615
3,471	e	BRE Properties, Inc (Class A)		140,680
3,529	e	Camden Property Trust		169,921
4,231	e	CBL & Associates Properties, Inc		101,163
2,949		Colonial Properties Trust		66,736
7,622		Developers Diversified Realty Corp		291,846
6,600	e	Douglas Emmett, Inc		149,226
2,135		Duke Realty Corp		55,681
17,677		Equity Residential		644,680
894	e	Essex Property Trust, Inc		87,156
1,705	e	Federal Realty Investment Trust		140,066
6,119		General Growth Properties, Inc		251,980
12,522		HCP, Inc		435,515
4,507		Health Care REIT, Inc		201,418
5,820	e	Hospitality Properties Trust		187,520
32,619		Host Marriott Corp		555,828
14,403		HRPT Properties Trust		111,335
110,717		iShares Russell 1000 Value Index Fund		8,885,039
7,989	e	iStar Financial, Inc		208,113
13,437		Kimco Realty Corp		489,107
5,982	e	Liberty Property Trust		172,341
4,044	e	Mack-Cali Realty Corp		137,496
10,221		Plum Creek Timber Co, Inc		470,575
1,797		Prologis		113,894
7,130		Public Storage, Inc		523,413
4,235	e	Regency Centers Corp		273,115
6,073		Simon Property Group, Inc		527,501
3,643	e	SL Green Realty Corp		340,475
1,548	e	Taubman Centers, Inc		76,146
9,417		Thornburg Mortgage, Inc		87,013
17,886	e	Virgin Media, Inc		306,566
8,517		Vornado Realty Trust		749,070
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		19,326,838
HOTELS AND OTHER LODGING PLACES - 0.06%
500	e	Orient-Express Hotels Ltd (Class A)		28,760
10,629		Wyndham Worldwide Corp		250,419
		TOTAL HOTELS AND OTHER LODGING PLACES		279,179
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.54%
2,177	e*	AGCO Corp		147,992
1,781		Black & Decker Corp		124,047
2,714	e	Carlisle Cos, Inc		100,499
26,476		Deere & Co		2,465,445
8,657		Dover Corp		399,001
418		Flowserve Corp		40,212
3,664	*	Gardner Denver, Inc		120,912
575,806	d	General Electric Co		21,345,128
16,142		Ingersoll-Rand Co Ltd (Class A)		750,119
17,522		International Business Machines Corp		1,894,128
3,815		Jabil Circuit, Inc		58,255
1,950		Kennametal, Inc		73,827
3,721	e	Lennox International, Inc		154,124

79

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,417	*	Lexmark International, Inc (Class A)	$	84,257
761		Pall Corp		30,684
5,588	*	SanDisk Corp		185,354
21,407		Seagate Technology, Inc		545,879
3,330		SPX Corp		342,491
9,959	*	Teradata Corp		272,976
6,040	e	Timken Co		198,414
9,529	e*	Western Digital Corp		287,871
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		29,621,615
INSTRUMENTS AND RELATED PRODUCTS - 2.96%
8,917		Applera Corp (Applied Biosystems Group)		302,465
883		Beckman Coulter, Inc		64,282
83,455	*	Boston Scientific Corp		970,582
1,573	e	Cooper Cos, Inc		59,774
31,028		Covidien Ltd		1,374,230
2,325		DRS Technologies, Inc		126,178
18,348	e	Eastman Kodak Co		401,271
8,543		Emerson Electric Co		484,046
113,845		Johnson & Johnson		7,593,462
5,926		PerkinElmer, Inc		154,195
2,234		Pitney Bowes, Inc		84,981
5,561	*	Teradyne, Inc		57,501
13,299	*	Thermo Electron Corp		767,086
58,773		Xerox Corp		951,535
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		13,391,588
INSURANCE AGENTS, BROKERS AND SERVICE - 0.87%
18,360		AON Corp		875,588
4,747	e	Gallagher (Arthur J.) & Co		114,830
19,908		Hartford Financial Services Group, Inc		1,735,779
33,615		Marsh & McLennan Cos, Inc		889,789
610		White Mountains Insurance Group Ltd		313,571
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		3,929,557
INSURANCE CARRIERS - 7.18%
19,539	e	ACE Ltd		1,207,119
6,320		Aetna, Inc		364,854
2,699		Aflac, Inc		169,038
344	*	Alleghany Corp		138,288
3,785		Allied World Assurance Holdings Ltd		189,893
35,966		Allstate Corp		1,878,504
6,220	e	Ambac Financial Group, Inc		160,289
4,877		American Financial Group, Inc		140,848
131,092		American International Group, Inc		7,642,664
1,044		American National Insurance Co		126,575
3,148	*	Arch Capital Group Ltd		221,462
7,752		Assurant, Inc		518,609
9,806	e	Axis Capital Holdings Ltd		382,140
25,314		Chubb Corp		1,381,638
10,536		Cincinnati Financial Corp		416,593
1,657	e	CNA Financial Corp		55,874
11,023	e*	Conseco, Inc		138,449
3,287	e	Endurance Specialty Holdings Ltd		137,167
2,827	e	Erie Indemnity Co (Class A)		146,693
3,836		Everest Re Group Ltd		385,134
13,945	e	Fidelity National Title Group, Inc (Class A)		203,736

80

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,677	e	First American Corp	$	193,699
27,438		Genworth Financial, Inc (Class A)		698,297
2,717		Hanover Insurance Group, Inc		124,439
3,784	e	HCC Insurance Holdings, Inc		108,525
10,458		Leucadia National Corp		492,572
16,959		Lincoln National Corp		987,353
27,279		Loews Corp		1,373,225
697	*	Markel Corp		342,297
8,325	e	MBIA, Inc		155,095
1,689	e	Mercury General Corp		84,129
29,802		Metlife, Inc		1,836,399
4,930	e	MGIC Investment Corp		110,580
2,963		Nationwide Financial Services, Inc (Class A)		133,365
14,077	e	Old Republic International Corp		216,927
1,774	e	OneBeacon Insurance Group Ltd		38,141
2,629		PartnerRe Ltd		216,971
646	*	Philadelphia Consolidated Holding Co		25,420
5,373	e	PMI Group, Inc		71,353
15,927		Principal Financial Group		1,096,415
44,907	*	Progressive Corp		860,418
4,467		Protective Life Corp		183,236
22,065		Prudential Financial, Inc		2,052,928
6,584	e	Radian Group, Inc		76,901
1,978	e	Reinsurance Group Of America, Inc		103,805
4,446	e	RenaissanceRe Holdings Ltd		267,827
6,156		Safeco Corp		342,766
3,182		Stancorp Financial Group, Inc		160,309
6,148		Torchmark Corp		372,138
999		Transatlantic Holdings, Inc		72,597
41,820		Travelers Cos, Inc		2,249,916
2,766	e	Unitrin, Inc		132,740
22,826		UnumProvident Corp		543,031
7,676		W.R. Berkley Corp		228,822
126	e	Wesco Financial Corp		51,282
10,390		XL Capital Ltd (Class A)		522,721
		TOTAL INSURANCE CARRIERS		32,532,206
LUMBER AND WOOD PRODUCTS - 0.02%
5,971	e	Louisiana-Pacific Corp		81,683
		TOTAL LUMBER AND WOOD PRODUCTS		81,683
METAL MINING - 0.27%
4,381		Freeport-McMoRan Copper & Gold, Inc (Class B)		448,790
15,510		Newmont Mining Corp		757,353
		TOTAL METAL MINING		1,206,143
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.52%
1,092	e*	Armstrong World Industries, Inc		43,800
9,592		Fortune Brands, Inc		694,077
5,911		Hasbro, Inc		151,203
13,058		Mattel, Inc		248,624
31,028		Tyco International Ltd		1,230,260
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		2,367,964
MISCELLANEOUS RETAIL - 0.54%
3,076		Barnes & Noble, Inc		105,968
43,093		CVS Corp		1,712,947

81

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,371		OfficeMax, Inc	$	48,985
40,754	e*	Rite Aid Corp		113,704
4,716	e*	Sears Holdings Corp		481,268
		TOTAL MISCELLANEOUS RETAIL		2,462,872
MOTION PICTURES - 1.24%
37,870		CBS Corp (Class B)		1,031,958
7,920	*	Discovery Holding Co (Class A)		199,109
682	*	DreamWorks Animation SKG, Inc (Class A)		17,418
48,318		News Corp (Class A)		990,036
1,000	e	Regal Entertainment Group (Class A)		18,070
202,392		Time Warner, Inc		3,341,492
		TOTAL MOTION PICTURES		5,598,083
NONDEPOSITORY INSTITUTIONS - 1.36%
11,406	e	American Capital Strategies Ltd		375,942
8,581	e*	AmeriCredit Corp		109,751
24,562		Capital One Financial Corp		1,160,800
4,177		CapitalSource, Inc		73,473
12,133		CIT Group, Inc		291,556
36,757		Countrywide Financial Corp		328,614
29,061		Discover Financial Services		438,240
61,074		Fannie Mae		2,441,739
25,088		Freddie Mac		854,748
2,157	*	Guaranty Financial Group, Inc		34,517
382	e	Student Loan Corp		42,020
		TOTAL NONDEPOSITORY INSTITUTIONS		6,151,400
OIL AND GAS EXTRACTION - 1.10%
29,169		Anadarko Petroleum Corp		1,916,112
12,161	e	Chesapeake Energy Corp		476,711
5,598	e	Cimarex Energy Co		238,083
1,400	e*	Continental Resources, Inc		36,582
609		ENSCO International, Inc		36,309
1,612	e	Equitable Resources, Inc		85,887
4,808	e*	Forest Oil Corp		244,439
1,033	e*	Helix Energy Solutions Group, Inc		42,870
6,811	e	Helmerich & Payne, Inc		272,917
1,865	*	Nabors Industries Ltd		51,082
9,681	e	Patterson-UTI Energy, Inc		188,973
7,839	e	Pioneer Natural Resources Co		382,857
7,137	*	Plains Exploration & Production Co		385,398
2,815	*	Pride International, Inc		95,429
1,706		Rowan Cos, Inc		67,319
1,723	e*	SEACOR Holdings, Inc		159,791
3,988	e	St. Mary Land & Exploration Co		153,977
1,325	e	Tidewater, Inc		72,690
982	*	Unit Corp		45,418
900	e	W&T Offshore, Inc		26,964
		TOTAL OIL AND GAS EXTRACTION		4,979,808
PAPER AND ALLIED PRODUCTS - 0.68%
6,566		Bemis Co		179,777
15,006	e*	Domtar Corporation		115,396
27,086		International Paper Co		877,045
14,815		Kimberly-Clark Corp		1,027,272
11,417		MeadWestvaco Corp		357,352

82

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
16,758	*	Smurfit-Stone Container Corp	$	176,964
6,028		Sonoco Products Co		196,995
6,472	e	Temple-Inland, Inc		134,941
		TOTAL PAPER AND ALLIED PRODUCTS		3,065,742
PERSONAL SERVICES - 0.07%
1,697		Cintas Corp		57,053
17,548	e	Service Corp International		246,549
		TOTAL PERSONAL SERVICES		303,602
PETROLEUM AND COAL PRODUCTS - 14.52%
20,738		Apache Corp		2,230,165
3,417		Ashland, Inc		162,068
135,217		Chevron Corp		12,619,803
102,896		ConocoPhillips		9,085,717
27,912		Devon Energy Corp		2,481,656
15,238		EOG Resources, Inc		1,359,992
282,118		Exxon Mobil Corp		26,431,635
3,259		Frontier Oil Corp		132,250
17,428		Hess Corp		1,757,788
45,203		Marathon Oil Corp		2,751,055
11,731		Murphy Oil Corp		995,258
8,060	*	Newfield Exploration Co		424,762
9,303		Noble Energy, Inc		739,775
52,380		Occidental Petroleum Corp		4,032,736
900	*	SandRidge Energy, Inc		32,274
7,385		Valero Energy Corp		517,172
994	e	Western Refining, Inc		24,065
		TOTAL PETROLEUM AND COAL PRODUCTS		65,778,171
PIPELINES, EXCEPT NATURAL GAS - 0.23%
39,524		Spectra Energy Corp		1,020,510
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,020,510
PRIMARY METAL INDUSTRIES - 0.94%
54,554		Alcoa, Inc		1,993,949
1,466	e	Carpenter Technology Corp		110,199
2,551	e	Hubbell, Inc (Class B)		131,632
14,591		Nucor Corp		864,079
4,023	e	Steel Dynamics, Inc		239,650
7,423		United States Steel Corp		897,515
		TOTAL PRIMARY METAL INDUSTRIES		4,237,024
PRINTING AND PUBLISHING - 0.44%
5,438	e	EW Scripps Co (Class A)		244,764
14,839		Gannett Co, Inc		578,721
900	e	Harte-Hanks, Inc		15,570
3,100	e	McClatchy Co (Class A)		38,812
6,970	e	New York Times Co (Class A)		122,184
4,182	e	R.H. Donnelley Corp		152,559
13,920		R.R. Donnelley & Sons Co		525,341
403	e	Washington Post Co (Class B)		318,946
		TOTAL PRINTING AND PUBLISHING		1,996,897
RAILROAD TRANSPORTATION - 0.57%
1,135		Burlington Northern Santa Fe Corp		94,466
22,791		CSX Corp		1,002,348

83

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,763	*	Kansas City Southern Industries, Inc	$	60,524
12,286		Norfolk Southern Corp		619,706
6,494		Union Pacific Corp		815,776
		TOTAL RAILROAD TRANSPORTATION		2,592,820
REAL ESTATE - 0.01%
2,157	*	Forestar Real Estate Group, Inc		50,891
		TOTAL REAL ESTATE		50,891
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.09%
8,545		Newell Rubbermaid, Inc		221,145
8,589		Sealed Air Corp		198,749
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		419,894
SECURITY AND COMMODITY BROKERS - 3.05%
14,827		Ameriprise Financial, Inc		817,116
7,487	e	Bear Stearns Cos, Inc		660,728
1,737	e	BlackRock, Inc		376,582
21,017	e*	E*Trade Financial Corp		74,610
14,351		Goldman Sachs Group, Inc		3,086,183
4,700		Invesco Ltd		147,486
2,515		Janus Capital Group, Inc		82,618
7,237	e	Jefferies Group, Inc		166,813
4,637		Legg Mason, Inc		339,197
33,418		Lehman Brothers Holdings, Inc		2,186,874
41,339		Merrill Lynch & Co, Inc		2,219,078
2,600	e*	MF Global Ltd		81,822
62,322		Morgan Stanley		3,309,921
1,266	*	Nasdaq Stock Market, Inc		62,654
5,568	e	Raymond James Financial, Inc		181,851
		TOTAL SECURITY AND COMMODITY BROKERS		13,793,533
STONE, CLAY, AND GLASS PRODUCTS - 0.13%
2,882		3M Co		243,010
6,748	e*	Owens Corning, Inc		136,445
600	*	Owens-Illinois, Inc		29,700
4,984	e*	USG Corp		178,377
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		587,532
TOBACCO PRODUCTS - 1.21%
56,610		Altria Group, Inc		4,278,584
2,770	e	Loews Corp (Carolina Group)		236,281
10,825		Reynolds American, Inc		714,017
4,727		UST, Inc		259,040
		TOTAL TOBACCO PRODUCTS		5,487,922
TRANSPORTATION BY AIR - 0.22%
3,173		FedEx Corp		282,936
6,046	*	Northwest Airlines Corp		87,727
36,326		Southwest Airlines Co		443,177
3,133	e	UAL Corp		111,723
5,227	e*	US Airways Group, Inc		76,889
		TOTAL TRANSPORTATION BY AIR		1,002,452
TRANSPORTATION EQUIPMENT - 2.04%
1,817	e	Autoliv, Inc		95,774
5,332	e	Brunswick Corp		90,911

84

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
126,669	e*	Ford Motor Co	$	852,482
21,814		General Dynamics Corp		1,941,228
30,263		General Motors Corp		753,246
10,536		Genuine Parts Co		487,817
9,704		ITT Industries, Inc		640,852
20,361		Northrop Grumman Corp		1,601,189
13,322		Raytheon Co		808,645
1,700	*	Spirit Aerosystems Holdings, Inc (Class A)		58,650
940	e	Trinity Industries, Inc		26,094
3,147	e*	TRW Automotive Holdings Corp		65,772
24,284		United Technologies Corp		1,858,697
		TOTAL TRANSPORTATION EQUIPMENT		9,281,357
TRANSPORTATION SERVICES - 0.01%
1,668	e	GATX Corp		61,182
		TOTAL TRANSPORTATION SERVICES		61,182
TRUCKING AND WAREHOUSING - 0.02%
500	e	Con-way, Inc		20,770
3,634	e*	YRC Worldwide, Inc		62,105
		TOTAL TRUCKING AND WAREHOUSING		82,875
WATER TRANSPORTATION - 0.33%
2,599	e	Alexander & Baldwin, Inc		134,264
16,071		Carnival Corp		714,999
2,230	e	Overseas Shipholding Group, Inc		165,979
8,153	e	Royal Caribbean Cruises Ltd		346,013
2,655	e	Teekay Corp		141,273
		TOTAL WATER TRANSPORTATION		1,502,528
WHOLESALE TRADE-DURABLE GOODS - 0.22%
3,571	e*	Arrow Electronics, Inc		140,269
5,742	e	BorgWarner, Inc		277,970
9,133	*	Ingram Micro, Inc (Class A)		164,759
3,853		Reliance Steel & Aluminum Co		208,833
3,110	*	Tech Data Corp		117,309
1,001		W.W. Grainger, Inc		87,608
		TOTAL WHOLESALE TRADE-DURABLE GOODS		996,748
WHOLESALE TRADE-NONDURABLE GOODS - 0.11%
196		Airgas, Inc		10,214
1,487		Brown-Forman Corp (Class B)		110,202
7,653		Dean Foods Co		197,907
9,281	e	Idearc, Inc		162,970
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		481,293
		TOTAL COMMON STOCKS		450,168,947
		(Cost $434,623,803)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 1.22%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.73%
$       3,320,000		Federal Home Loan Bank (FHLB), 01/02/08		3,320,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		3,320,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.49%
2,216,641		State Street Navigator Securities Lending Prime Portfolio		2,216,641

85

TIAA-CREF INSTITUTIONAL FUNDS - Large-Cap Value Index Fund
				VALUE
		TOTAL SHORT-TERM INVESTMENTS	$	5,536,641
		(Cost $5,536,341)
		TOTAL PORTFOLIO - 100.60%
		(Cost $440,160,144)		455,705,588
		OTHER ASSETS & LIABILITIES, NET - (0.60)%		(2,704,910	)
		NET ASSETS - 100.00%	$	453,000,678
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing
	**	Percentage 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 $255,782.
	e	All or a portion of these securities are out on loan.
		At December 31, 2007, the unrealized appreciation on investments was $15,545,444, consisting of
		gross unrealized appreciation of $ 59,611,801 and gross unrealized depreciation of $44,066,357.

86

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.44%
AGRICULTURAL PRODUCTION-CROPS - 0.00% **
2,765	e*	Chiquita Brands International, Inc	$	50,848
		TOTAL AGRICULTURAL PRODUCTION-CROPS		50,848
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.01%
954	e*	Cal-Maine Foods, Inc		25,310
2,719	e*	Pilgrim's Pride Corp		78,715
25		Seaboard Corp		36,750
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		140,775
AGRICULTURAL SERVICES - 0.00% **
864	e*	Cadiz, Inc		18,144
		TOTAL AGRICULTURAL SERVICES		18,144
AMUSEMENT AND RECREATION SERVICES - 0.66%
21,608	*	Activision, Inc		641,758
4,307	e*	Bally Technologies, Inc		214,144
689		Churchill Downs, Inc		37,185
736	e*	Dover Downs Gaming & Entertainment, Inc		8,280
14,034		Harrah's Entertainment, Inc		1,245,518
3,080		International Speedway Corp (Class A)		126,834
1,550	*	Lakes Entertainment, Inc		10,741
2,221	*	Leapfrog Enterprises, Inc		14,947
2,381	*	Life Time Fitness, Inc		118,288
4,383	e*	Live Nation, Inc		63,641
2,758	*	Magna Entertainment Corp		2,675
3,600	e*	Marvel Entertainment, Inc		96,156
1,925	e*	MTR Gaming Group, Inc		13,071
2,299	e*	Multimedia Games, Inc		19,174
5,447	*	Penn National Gaming, Inc		324,369
4,610	e*	Pinnacle Entertainment, Inc		108,612
5,973	e*	Six Flags, Inc		12,125
1,544		Speedway Motorsports, Inc		47,988
1,184	*	Town Sports International Holdings, Inc		11,319
152,838		Walt Disney Co		4,933,611
3,298	e*	Warner Music Group Corp		19,986
4,672	e*	Westwood One, Inc		9,297
2,932	e*	WMS Industries, Inc		107,428
1,665	e*	World Wrestling Entertainment, Inc		24,575
		TOTAL AMUSEMENT AND RECREATION SERVICES		8,211,722
APPAREL AND ACCESSORY STORES - 0.53%
6,870		Abercrombie & Fitch Co (Class A)		549,394
5,827	*	Aeropostale, Inc		154,416
14,212	e*	American Eagle Outfitters, Inc		295,183
5,041	*	AnnTaylor Stores Corp		128,848

87

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,948	e*	Bebe Stores, Inc	$	25,051
2,831		Brown Shoe Co, Inc		42,946
840		Buckle, Inc		27,720
793	*	Cache, Inc		7,407
4,241	*	Carter's, Inc		82,063
2,133	e*	Casual Male Retail Group, Inc		11,049
2,314	e*	Cato Corp (Class A)		36,237
2,203	e*	Charlotte Russe Holding, Inc		35,578
8,725	e*	Charming Shoppes, Inc		47,202
12,867	*	Chico's FAS, Inc		116,189
2,537	e*	Children's Place Retail Stores, Inc		65,784
2,342	e*	Christopher & Banks Corp		26,816
1,134	e*	Citi Trends, Inc		17,509
4,864	e*	Collective Brands, Inc		84,585
4,020	e*	Dress Barn, Inc		50,290
1,121	e*	DSW, Inc (Class A)		21,030
2,240	*	Eddie Bauer Holdings, Inc		14,224
7,472	*	Finish Line, Inc (Class A)		18,082
11,482		Foot Locker, Inc		156,844
44,935		Gap, Inc		956,217
7,460	e*	Hanesbrands, Inc		202,688
3,079	*	HOT Topic, Inc		17,920
3,580	e*	J Crew Group, Inc		172,592
1,794	e*	Jo-Ann Stores, Inc		23,466
1,448	e*	JOS A Bank Clothiers, Inc		41,196
24,800	*	Kohl's Corp		1,135,840
25,776	e*	Limited Brands, Inc		487,940
3,344	*	New York & Co, Inc		21,335
19,308	e*	Nordstrom, Inc		709,183
5,259	e*	Pacific Sunwear Of California, Inc		74,204
10,114		Ross Stores, Inc		258,615
407	e*	Shoe Carnival, Inc		5,743
3,326		Stage Stores, Inc		49,225
312	e*	Syms Corp		4,711
1,535	e*	Talbots, Inc		18,144
2,198	*	Tween Brands, Inc		58,203
2,066	e*	Under Armour, Inc (Class A)		90,222
8,694	*	Urban Outfitters, Inc		236,998
11,688	*	Wet Seal, Inc (Class A)		27,233
		TOTAL APPAREL AND ACCESSORY STORES		6,606,122
APPAREL AND OTHER TEXTILE PRODUCTS - 0.15%
1,043	e*	Columbia Sportswear Co		45,986
963	*	G-III Apparel Group Ltd		14,223
3,935		Guess ?, Inc		149,097
2,631	*	Gymboree Corp		80,140
8,003		Jones Apparel Group, Inc		127,968
1,667	e*	Kellwood Co		27,739
8,804	e*	Liz Claiborne, Inc		179,161
1,000	e*	Lululemon Athletica, Inc		47,370
3,070	e*	Maidenform Brands, Inc		41,537
4,060		Phillips-Van Heusen Corp		149,652
4,795	e*	Polo Ralph Lauren Corp		296,283
8,850	*	Quiksilver, Inc		75,933

88

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,354	e*	True Religion Apparel, Inc	$	50,258
6,592		VF Corp		452,607
3,472	*	Warnaco Group, Inc		120,826
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,858,780
AUTO REPAIR, SERVICES AND PARKING - 0.08%
741	e*	Amerco, Inc		48,669
2,651	e*	Dollar Thrifty Automotive Group, Inc		62,775
10,638	e*	Exide Technologies		85,104
24,194	*	Hertz Global Holdings, Inc		384,443
1,441	e*	Midas, Inc		21,125
1,021		Monro Muffler, Inc		19,899
4,995		Ryder System, Inc		234,815
216	*	Standard Parking Corp		10,474
3,275	*	Wright Express Corp		116,230
		TOTAL AUTO REPAIR, SERVICES AND PARKING		983,534
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.16%
7,687		Advance Auto Parts		292,029
1,878		Asbury Automotive Group, Inc		28,264
11,455	e*	Autonation, Inc		179,385
3,618	*	Autozone, Inc		433,834
15,740	e*	Carmax, Inc		310,865
5,063	*	Copart, Inc		215,430
3,416	e*	CSK Auto Corp		17,114
1,014	e*	Lithia Motors, Inc (Class A)		13,922
810	e*	MarineMax, Inc		12,555
9,194	*	O'Reilly Automotive, Inc		298,161
3,796	e*	Penske Auto Group, Inc		66,278
2,029	e*	Rush Enterprises, Inc (Class A)		36,887
2,558		Sonic Automotive, Inc (Class A)		49,523
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,954,247
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.52%
1,177	e*	Builders FirstSource, Inc		8,498
4,698	e*	Central Garden and Pet Co (Class A)		25,181
9,356	e*	Fastenal Co		378,169
130,018		Home Depot, Inc		3,502,685
116,200		Lowe's Cos, Inc		2,628,444
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		6,542,977
BUSINESS SERVICES - 7.29%
26,226	*	3Com Corp		118,542
733	e*	3D Systems Corp		11,318
3,785	e*	Aaron Rents, Inc		72,823
3,028		ABM Industries, Inc		61,741
5,318	e*	Acacia Research (Acacia Technologies)		47,756
45,608		Accenture Ltd (Class A)		1,643,256
2,535	e*	ACI Worldwide, Inc		48,266
3,842	*	Actuate Corp		29,852
5,011		Acxiom Corp		58,779
2,262		Administaff, Inc		63,969
45,058	*	Adobe Systems, Inc		1,925,328
1,354	e*	Advent Software, Inc		73,251

89

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
7,319	*	Affiliated Computer Services, Inc (Class A)	$	330,087
1,787	e*	Aircastle Ltd		47,052
12,816	*	Akamai Technologies, Inc		443,434
6,226	e*	Alliance Data Systems Corp		466,888
15,234	*	Amdocs Ltd		525,116
1,752	*	American Reprographics Co		28,873
3,535	*	AMN Healthcare Services, Inc		60,696
1,886	*	Ansoft Corp		48,753
5,613	*	Ansys, Inc		232,715
2,421	e*	Arbitron, Inc		100,641
7,125	e*	Ariba, Inc		79,444
7,511	*	Art Technology Group, Inc		32,448
5,821	*	Aspen Technology, Inc		94,417
1,465	e*	Asset Acceptance Capital Corp		15,251
500	e*	athenahealth, Inc		18,000
17,505	*	Autodesk, Inc		871,049
42,433		Automatic Data Processing, Inc		1,889,541
7,403	*	Avis Budget Group, Inc		96,239
4,038	*	Avocent Corp		94,126
659	e*	Bankrate, Inc		31,691
281	e*	Barrett Business Services		5,061
30,450	*	BEA Systems, Inc		480,501
14,716	e*	BearingPoint, Inc		41,646
2,964		Blackbaud, Inc		83,111
2,280	*	Blackboard, Inc		91,770
400	*	BladeLogic, Inc		11,828
2,420	*	Blue Coat Systems, Inc		79,545
15,886	*	BMC Software, Inc		566,177
5,914	e*	Borland Software Corp		17,801
761	*	Bottomline Technologies, Inc		10,654
4,433	e*	BPZ Energy, Inc		49,561
3,647		Brady Corp (Class A)		127,973
3,167		Brink's Co		189,197
31,109		CA, Inc		776,170
2,883	*	CACI International, Inc (Class A)		129,072
20,679	*	Cadence Design Systems, Inc		351,750
794	*	Capella Education Co		51,975
4,380	e*	CBIZ, Inc		42,968
4,790	e*	Cerner Corp		270,156
5,869	e*	ChoicePoint, Inc		213,749
2,094	*	Chordiant Software, Inc		17,904
3,178	*	Ciber, Inc		19,418
14,534	*	Citrix Systems, Inc		552,437
3,570	*	Clear Channel Outdoor Holdings, Inc (Class A)		98,746
4,278	*	CMGI, Inc		55,999
9,614	*	CNET Networks, Inc		87,872
4,660	*	Cogent Communications Group, Inc		110,489
3,986	e*	Cogent, Inc		44,444
2,865		Cognex Corp		57,730
21,548	*	Cognizant Technology Solutions Corp (Class A)		731,339
2,566	*	Commvault Systems, Inc		54,348
878		Compass Diversified Trust		13,082
1,662		Computer Programs & Systems, Inc		37,794
13,146	*	Computer Sciences Corp		650,333

90

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
22,836	*	Compuware Corp	$	202,784
847	*	COMSYS IT Partners, Inc		13,366
3,532	*	Concur Technologies, Inc		127,894
10,212	*	Convergys Corp		168,090
1,168	e*	CoStar Group, Inc		55,188
3,313	*	CSG Systems International, Inc		48,767
4,387	*	Cybersource Corp		77,957
400	*	Data Domain, Inc		10,536
2,440	e*	DealerTrack Holdings, Inc		81,667
3,766		Deluxe Corp		123,864
2,984	e*	Digital River, Inc		98,681
1,040	*	DivX, Inc		14,560
1,220	*	Double-Take Software, Inc		26,498
4,410	*	DST Systems, Inc		364,046
1,700	*	DynCorp International, Inc (Class A)		45,696
9,238	*	Earthlink, Inc		65,313
88,076	*	eBay, Inc		2,923,242
3,244	*	Echelon Corp		66,956
4,098	*	Eclipsys Corp		103,720
1,211		Electro Rent Corp		17,983
24,088	*	Electronic Arts, Inc		1,406,980
38,243		Electronic Data Systems Corp		792,777
4,217	e*	Epicor Software Corp		49,676
1,373	*	EPIQ Systems, Inc		23,904
11,140	e*	Equifax, Inc		405,050
2,704	*	Equinix, Inc		273,293
1,940	e*	eSpeed, Inc (Class A)		21,922
7,422	e*	Evergreen Energy, Inc		16,551
1,660	e*	ExlService Holdings, Inc		38,313
15,085	*	Expedia, Inc		476,988
6,034	*	F5 Networks, Inc		172,090
3,326	e*	Factset Research Systems, Inc		185,258
4,520	e*	Fair Isaac Corp		145,318
1,951	e*	FalconStor Software, Inc		21,968
14,611		Fidelity National Information Services, Inc		607,671
12,865	*	Fiserv, Inc		713,879
1,148	*	Forrester Research, Inc		32,167
1,910		FTD Group, Inc		24,601
5,026	e*	Gartner, Inc		88,257
1,509	*	Gerber Scientific, Inc		16,297
3,732	e*	Getty Images, Inc		108,228
1,781	e*	Gevity HR, Inc		13,696
3,223	e*	Global Cash Access, Inc		19,531
1,260	e*	Global Sources Ltd		35,574
17,649	*	Google, Inc (Class A)		12,203,930
1,315	e*	H&E Equipment Services, Inc		24,827
3,916	e*	Healthcare Services Group		82,941
1,245		Heartland Payment Systems, Inc		33,366
1,765		Heidrick & Struggles International, Inc		65,499
12,545	e*	HLTH Corp		168,103
1,511	*	HMS Holdings Corp		50,180
2,798	*	Hudson Highland Group, Inc		23,531
3,858	e*	Hypercom Corp		19,213
989	e*	i2 Technologies, Inc		12,461

91

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
289	e*	ICT Group, Inc	$	3,454
1,316	*	iGate Corp		11,146
2,299	*	IHS, Inc (Class A)		139,227
3,646	e*	Imergent, Inc		38,611
15,627		IMS Health, Inc		360,046
6,087	*	Informatica Corp		109,688
2,104	e*	Infospace, Inc		39,555
2,444		infoUSA, Inc		21,825
1,719	e*	Innerworkings, Inc		29,670
605	e*	Innovative Solutions & Support, Inc		5,862
859	e*	Integral Systems, Inc		19,980
3,678		Interactive Data Corp		121,411
955	*	Interactive Intelligence, Inc		25,164
3,444	e*	Internap Network Services Corp		28,689
2,383	*	Internet Capital Group, Inc		27,976
33,888	*	Interpublic Group of Cos, Inc		274,832
2,861	*	Interwoven, Inc		40,683
25,846	*	Intuit, Inc		816,992
1,969	*	inVentiv Health, Inc		60,960
3,293	e*	Ipass, Inc		13,370
14,464	*	Iron Mountain, Inc		535,457
6,226		Jack Henry & Associates, Inc		151,541
2,086	*	JDA Software Group, Inc		42,680
39,689	*	Juniper Networks, Inc		1,317,675
1,857		Kelly Services, Inc (Class A)		34,652
1,834	*	Kenexa Corp		35,616
1,118	*	Keynote Systems, Inc		15,708
2,364	*	Kforce, Inc		23,049
3,852	e*	Kinetic Concepts, Inc		206,313
1,958	e*	Knot, Inc		31,211
3,407	*	Korn/Ferry International		64,120
6,111	e*	Lamar Advertising Co (Class A)		293,756
8,318	*	Lawson Software, Inc		85,176
5,486	e*	Limelight Networks, Inc		37,799
3,580	e*	Lionbridge Technologies		12,709
1,100	*	Liquidity Services, Inc		14,190
2,668	*	LivePerson, Inc		14,247
1,043	*	LoJack Corp		17,533
2,806	*	Magma Design Automation, Inc		34,261
2,138	*	Manhattan Associates, Inc		56,358
6,649		Manpower, Inc		378,328
1,255	*	Mantech International Corp (Class A)		54,994
1,255	e*	Marchex, Inc (Class B)		13,629
6,145	e*	Mastercard, Inc (Class A)		1,322,404
12,562	*	McAfee, Inc		471,075
6,972	e*	Mentor Graphics Corp		75,158
630,565		Microsoft Corp		22,448,114
736	*	MicroStrategy, Inc (Class A)		69,994
3,645	e*	Midway Games, Inc		10,060
6,534	e*	MoneyGram International, Inc		100,428
9,796	*	Monster Worldwide, Inc		317,390
17,615	e*	Move, Inc		43,157
8,526	*	MPS Group, Inc		93,274
3,168	*	MSC.Software Corp		41,152

92

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
7,434	*	NAVTEQ Corp	$	562,010
13,669	e*	NCR Corp		343,092
2,508	*	Ness Technologies, Inc		23,149
3,597	e*	NetFlix, Inc		95,752
1,911	*	Network Equipment Technologies, Inc		16,091
2,904		NIC, Inc		24,510
25,221	*	Novell, Inc		173,268
9,918	*	Nuance Communications, Inc		185,268
25,644		Omnicom Group, Inc		1,218,859
2,970	*	Omniture, Inc		98,871
1,748	e*	On Assignment, Inc		12,253
1,355	e*	Online Resources Corp		16,152
6,788	e*	OpenTV Corp (Class A)		8,960
297,499	*	Oracle Corp		6,717,527
2,839	*	Packeteer, Inc		17,488
10,318	*	Parametric Technology Corp		184,176
891	e*	PDF Solutions, Inc		8,028
613		Pegasystems, Inc		7,313
1,250	*	PeopleSupport, Inc		17,100
2,126	e*	Perficient, Inc		33,463
7,252	*	Perot Systems Corp (Class A)		97,902
4,418	*	Phase Forward, Inc		96,092
1,446	e*	Portfolio Recovery Associates, Inc		57,363
4,486	*	Premiere Global Services, Inc		66,617
2,801	*	Progress Software Corp		94,338
1,388		QAD, Inc		12,964
1,041	e*	Quality Systems, Inc		31,740
4,495	*	Quest Software, Inc		82,888
1,378	*	Radiant Systems, Inc		23,743
1,137	e*	Radisys Corp		15,236
4,430	e*	Raser Technologies, Inc		65,785
8,011	e*	RealNetworks, Inc		48,787
15,014	e*	Red Hat, Inc		312,892
612	e*	Renaissance Learning, Inc		8,568
5,338	*	Rent-A-Center, Inc		77,508
840	e*	RightNow Technologies, Inc		13,314
10,841		Robert Half International, Inc		293,141
4,417	e*	Rollins, Inc		84,806
1,529	e*	RSC Holdings, Inc		19,189
5,134	*	S1 Corp		37,478
7,443	*	Salesforce.com, Inc		466,602
5,380	*	Sapient Corp		47,398
5,132	e*	Secure Computing Corp		49,267
850	*	SI International, Inc		23,350
2,460	e*	Smith Micro Software, Inc		20,836
2,533	*	Sohu.com, Inc		138,099
4,133	*	SonicWALL, Inc		44,306
19,704	e*	Sonus Networks, Inc		114,874
4,868	e*	Sotheby's		185,471
4,940	*	Spherion Corp		35,963
1,267	e*	SPSS, Inc		45,498
3,686	*	SRA International, Inc (Class A)		108,553
1,182	e*	Stratasys, Inc		30,543
68,729	*	Sun Microsystems Inc		1,246,057

93

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
7,019	*	Sybase, Inc	$	183,126
1,944	*	SYKES Enterprises, Inc		34,992
69,702	*	Symantec Corp		1,124,990
1,346	e*	Synchronoss Technologies, Inc		47,702
677	*	SYNNEX Corp		13,269
10,518	*	Synopsys, Inc		272,732
932	e*	Syntel, Inc		35,901
6,176	e*	Take-Two Interactive Software, Inc		113,947
1,294	e*	TAL International Group, Inc		29,464
1,175	*	Taleo Corp (Class A)		34,992
2,745	*	TeleTech Holdings, Inc		58,386
1,213	e*	TheStreet.com, Inc		19,311
5,002	e*	THQ, Inc		141,006
16,150	*	TIBCO Software, Inc		130,331
1,603		TNS, Inc		28,453
2,944	e*	Total System Services, Inc		82,432
1,236	e*	TradeStation Group, Inc		17,563
2,287	e*	Travelzoo, Inc		31,286
2,760	e*	Trizetto Group, Inc		47,941
3,536	*	TrueBlue, Inc		51,201
1,793	e*	Ultimate Software Group, Inc		56,426
26,675	*	Unisys Corp		126,173
5,489		United Online, Inc		64,880
6,707	*	United Rentals, Inc		123,140
6,896	*	Valueclick, Inc		151,022
2,516	e*	Vasco Data Security International		70,247
16,884	*	VeriSign, Inc		635,007
1,605		Viad Corp		50,686
1,973	*	Vignette Corp		28,826
2,914	*	Visual Sciences, Inc		53,851
2,920	e*	VMware, Inc (Class A)		248,171
941	*	Vocus, Inc		32,493
667	e*	Volt Information Sciences, Inc		12,179
39,970		Waste Management, Inc		1,305,820
302	e*	WebMD Health Corp (Class A)		12,403
2,968	e*	Websense, Inc		50,397
4,710	*	Wind River Systems, Inc		42,060
92,456	*	Yahoo!, Inc		2,150,526
		TOTAL BUSINESS SERVICES		91,020,969
CHEMICALS AND ALLIED PRODUCTS - 9.39%
118,625		Abbott Laboratories		6,660,794
474	*	Abraxis Bioscience, Inc		32,597
1,835	e*	Acadia Pharmaceuticals, Inc		20,313
3,194	e*	Acorda Therapeutics, Inc		70,140
2,780	*	Adams Respiratory Therapeutics, Inc		166,077
16,741		Air Products & Chemicals, Inc		1,651,165
1,838	*	Albany Molecular Research, Inc		26,430
6,280		Albemarle Corp		259,050
6,092		Alberto-Culver Co		149,498
2,641	*	Alexion Pharmaceuticals, Inc		198,154
1,440	e*	Alexza Pharmaceuticals, Inc		11,650
7,300	*	Alkermes, Inc		113,807
3,109	e*	Allos Therapeutics, Inc		19,556

94

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,382	e*	Alnylam Pharmaceuticals, Inc	$	98,348
3,044	*	Alpharma, Inc (Class A)		61,337
1,038	e*	AMAG Pharmaceuticals, Inc		62,415
4,965	*	American Oriental Bioengineering, Inc		55,012
854		American Vanguard Corp		14,817
83,822	*	Amgen, Inc		3,892,694
1,899	e*	APP Pharmaceuticals, Inc		19,503
1,538		Arch Chemicals, Inc		56,521
4,430	*	Arena Pharmaceuticals, Inc		34,687
2,419	*	Arqule, Inc		14,030
3,457	e*	Array Biopharma, Inc		29,108
6,310	e*	Arrowhead Research Corp		23,852
2,059	*	Auxilium Pharmaceuticals, Inc		61,749
2,040	e*	Aventine Renewable Energy Holdings, Inc		26,030
8,743		Avery Dennison Corp		464,603
34,111		Avon Products, Inc		1,348,408
1,121	e*	Balchem Corp		25,088
8,389	*	Barr Pharmaceuticals, Inc		445,456
1,222	*	Bentley Pharmaceuticals, Inc		18,440
22,096	*	Biogen Idec, Inc		1,257,704
6,446	*	BioMarin Pharmaceuticals, Inc		228,188
780	e*	BioMimetic Therapeutics, Inc		13,548
3,228	e*	Bionovo, Inc		5,520
580	e*	Bradley Pharmaceuticals, Inc		11,426
151,507		Bristol-Myers Squibb Co		4,017,966
5,474		Cabot Corp		182,503
1,206	e*	Cadence Pharmaceuticals, Inc		17,921
4,732	e*	Calgon Carbon Corp		75,191
1,937		Cambrex Corp		16,232
1,195	*	Caraco Pharmaceutical Laboratories Ltd		20,494
10,279		Celanese Corp (Series A)		435,007
7,425	e*	Cell Genesys, Inc		17,077
4,889	e*	Cephalon, Inc		350,835
4,413		CF Industries Holdings, Inc		485,695
5,046	*	Charles River Laboratories International, Inc		332,027
1,668	*	Chattem, Inc		126,001
17,490		Chemtura Corp		136,422
5,483		Church & Dwight Co, Inc		296,466
10,934		Clorox Co		712,569
39,456		Colgate-Palmolive Co		3,075,990
3,870	*	Cubist Pharmaceuticals, Inc		79,374
3,964	*	Cypress Bioscience, Inc		43,723
3,635		Cytec Industries, Inc		223,843
1,097	*	Cytokinetics, Inc		5,189
6,379	e*	CytRx Corp		18,116
6,977	e*	Dendreon Corp		43,397
19,164	e*	Discovery Laboratories, Inc		41,202
73,422		Dow Chemical Co		2,894,295
71,256		Du Pont (E.I.) de Nemours & Co		3,141,677
7,981	e*	Durect Corp		51,318
6,557		Eastman Chemical Co		400,567
13,411		Ecolab, Inc		686,777
76,610		Eli Lilly & Co		4,090,208
1,375	*	Elizabeth Arden, Inc		27,981

95

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
12,051	*	Encysive Pharmaceuticals, Inc	$	10,243
2,740	e*	Enzon Pharmaceuticals, Inc		26,112
8,606	e*	Estee Lauder Cos (Class A)		375,308
3,162		Ferro Corp		65,548
5,556		FMC Corp		303,080
24,852	*	Forest Laboratories, Inc		905,855
35,612	*	Genentech, Inc		2,388,497
4,893	*	GenVec, Inc		7,193
20,464	*	Genzyme Corp		1,523,340
2,729	e*	Georgia Gulf Corp		18,066
6,239	e*	Geron Corp		35,437
71,996	*	Gilead Sciences, Inc		3,312,536
1,380	e*	GTx, Inc		19,803
4,534		H.B. Fuller Co		101,788
4,685	e*	Halozyme Therapeutics, Inc		33,310
8,159		Hercules, Inc		157,877
12,344	*	Hospira, Inc		526,348
9,109	*	Human Genome Sciences, Inc		95,098
7,137		Huntsman Corp		183,421
1,955	e*	Idenix Pharmaceuticals, Inc		5,278
4,894	*	Idexx Laboratories, Inc		286,935
4,456	*	ImClone Systems, Inc		191,608
5,204	*	Immucor, Inc		176,884
3,142	*	Indevus Pharmaceuticals, Inc		21,837
1,522	e*	Innophos Holdings, Inc		22,647
1,454		Innospec, Inc		24,951
418	e*	Inter Parfums, Inc		7,511
2,057	e*	InterMune, Inc		27,420
7,280		International Flavors & Fragrances, Inc		350,386
4,975	e*	Inverness Medical Innovations, Inc		279,495
3,582	*	Invitrogen Corp		334,595
10,988	e*	Javelin Pharmaceuticals, Inc		41,095
1,096		Kaiser Aluminum Corp		87,110
2,764	e*	Keryx Biopharmaceuticals, Inc		23,218
17,886	*	King Pharmaceuticals, Inc		183,153
1,279		Koppers Holdings, Inc		55,304
227	e*	Kronos Worldwide, Inc		3,961
2,762	e*	KV Pharmaceutical Co (Class A)		78,827
1,531	*	Landec Corp		20,515
6,598	e*	Ligand Pharmaceuticals, Inc (Class B)		31,868
5,486		Lubrizol Corp		297,122
930	e*	Mannatech, Inc		5,877
3,013	e*	MannKind Corp		23,983
1,963	*	Martek Biosciences Corp		58,065
10,830	e*	Medarex, Inc		112,849
3,197	*	Medicines Co		61,255
4,145	e*	Medicis Pharmaceutical Corp (Class A)		107,646
1,542	e*	Medivation, Inc		22,205
167,082		Merck & Co, Inc		9,709,135
2,876		Meridian Bioscience, Inc		86,510
6,460	*	MGI Pharma, Inc		261,824
23,715	*	Millennium Pharmaceuticals, Inc		355,251
1,545		Minerals Technologies, Inc		103,438
3,507	e*	Minrad International, Inc		11,398

96

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,900	e*	Momenta Pharmaceuticals, Inc	$	13,566
41,846		Monsanto Co		4,673,780
11,902	*	Mosaic Co		1,122,835
22,399	e*	Mylan Laboratories, Inc		314,930
13,166	*	Nabi Biopharmaceuticals		47,529
10,281		Nalco Holding Co		248,595
10,486	e*	Nastech Pharmaceutical Co, Inc		39,847
4,011	*	NBTY, Inc		109,901
2,863	e*	Neurocrine Biosciences, Inc		12,998
1,171		NewMarket Corp		65,213
465	e*	NL Industries, Inc		5,315
1,927	e*	Noven Pharmaceuticals, Inc		26,747
5,334		Olin Corp		103,106
2,185	*	OM Group, Inc		125,725
1,002	*	Omrix Biopharmaceuticals, Inc		34,809
3,999	e*	Onyx Pharmaceuticals, Inc		222,424
2,833	e*	OraSure Technologies, Inc		25,185
4,494	e*	OSI Pharmaceuticals, Inc		218,004
2,710	e*	Osiris Therapeutics, Inc		32,574
2,256	e*	Pacific Ethanol, Inc		18,522
2,404	*	Pain Therapeutics, Inc		25,482
2,342	e*	Par Pharmaceutical Cos, Inc		56,208
1,847	*	Parexel International Corp		89,210
8,778	e*	PDL BioPharma, Inc		153,791
1,388	*	Penwest Pharmaceuticals Co		8,120
6,178		Perrigo Co		216,292
1,235	e*	PetMed Express, Inc		14,944
541,085		Pfizer, Inc		12,298,862
1,967	*	PharMerica Corp		27,302
2,206	*	Pharmion Corp		138,669
5,644	*	PolyOne Corp		37,137
3,470	e*	Pozen, Inc		41,640
12,901		PPG Industries, Inc		906,037
24,504		Praxair, Inc		2,173,750
1,691	*	Prestige Brands Holdings, Inc		12,649
242,592		Procter & Gamble Co		17,811,105
1,531	*	Progenics Pharmaceuticals, Inc		27,665
167	*	Protalix BioTherapeutics, Inc		568
2,065	e*	Quidel Corp		40,205
15,023	*	Revlon, Inc (Class A)		17,727
2,779	*	Rockwood Holdings, Inc		92,318
11,000	e*	Rohm & Haas Co		583,770
9,617		RPM International, Inc		195,225
2,713	e*	Salix Pharmaceuticals Ltd		21,378
6,171	*	Santarus, Inc		16,970
124,685		Schering-Plough Corp		3,321,608
2,551	*	Sciele Pharma, Inc		52,168
3,192		Scotts Miracle-Gro Co (Class A)		119,445
3,555		Sensient Technologies Corp		100,535
7,776	*	Sepracor, Inc		204,120
8,519		Sherwin-Williams Co		494,443
10,172		Sigma-Aldrich Corp		555,391
3,270	*	Somaxon Pharmaceuticals, Inc		17,037
642		Stepan Co		20,884

97

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,950	e*	SuperGen, Inc	$	10,768
989	e*	SurModics, Inc		53,673
2,496	e*	Tercica, Inc		16,923
2,795		Tronox, Inc (Class B)		24,177
3,450	e*	UAP Holding Corp		133,170
900	e*	Ulta Salon Cosmetics & Fragrance, Inc		15,435
1,681	*	United Therapeutics Corp		164,150
1,000	*	US BioEnergy Corp		11,710
1,120	e*	USANA Health Sciences, Inc		41,530
10,109	e*	USEC, Inc		90,981
6,593	e*	Valeant Pharmaceuticals International		78,918
7,746	e*	Valspar Corp		174,595
5,543	e*	Vanda Pharmaceuticals, Inc		38,136
6,446	*	VCA Antech, Inc		285,107
2,367	e*	Verasun Energy Corp		36,168
10,013	*	Vertex Pharmaceuticals, Inc		232,602
4,600	e*	Viropharma, Inc		36,524
1,000	e*	Visicu, Inc		11,870
6,606	e*	Warner Chilcott Ltd (Class A)		117,124
8,088	*	Watson Pharmaceuticals, Inc		219,508
2,076	e*	Westlake Chemical Corp		39,423
5,138	*	WR Grace & Co		134,513
103,580		Wyeth		4,577,200
1,559	*	Xenoport, Inc		87,117
9,644	*	XOMA Ltd		32,693
2,506	e*	Zymogenetics, Inc		29,245
		TOTAL CHEMICALS AND ALLIED PRODUCTS		117,301,314
COAL MINING - 0.25%
5,170	*	Alpha Natural Resources, Inc		167,922
10,396		Arch Coal, Inc		467,092
14,095		Consol Energy, Inc		1,008,074
9,945	e*	International Coal Group, Inc		53,305
6,055		Massey Energy Co		216,466
20,012		Peabody Energy Corp		1,233,540
		TOTAL COAL MINING		3,146,399
COMMUNICATIONS - 4.36%
2,568	e*	Alaska Communications Systems Group, Inc		38,520
32,114	*	American Tower Corp (Class A)		1,368,056
2,386	e*	Anixter International, Inc		148,576
474,669		AT&T, Inc		19,727,244
800		Atlantic Tele-Network, Inc		27,024
1,395	*	Audiovox Corp (Class A)		17,298
3,879	*	Brightpoint, Inc		59,581
16,121		Cablevision Systems Corp (Class A)		394,965
1,494	e*	Cbeyond Communications, Inc		58,251
1,116	e*	Centennial Communications Corp		10,368
2,487	*	Central European Media Enterprises Ltd (Class A)		288,442
8,617		CenturyTel, Inc		357,261
37,646	e*	Charter Communications, Inc (Class A)		44,046
16,481	*	Cincinnati Bell, Inc		78,285
15,267	e*	Citadel Broadcasting Corp		31,450
27,845		Citizens Communications Co		354,467

98

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
38,384		Clear Channel Communications, Inc	$	1,325,016
1,676	e*	Clearwire Corp (Class A)		22,978
227,371	*	Comcast Corp (Class A)		4,151,794
1,800		Consolidated Communications Holdings, Inc		35,820
2,758	*	Cox Radio, Inc (Class A)		33,510
17,890	e*	Crown Castle International Corp		744,224
1,364	e*	Crown Media Holdings, Inc (Class A)		8,866
3,769	*	CTC Media, Inc		113,824
3,320	e*	Cumulus Media, Inc (Class A)		26,693
966	*	DG FastChannel,Inc		24,768
56,591	*	DIRECTV Group, Inc		1,308,384
15,864	*	EchoStar Communications Corp (Class A)		598,390
11,498		Embarq Corp		569,496
2,087	e*	Emmis Communications Corp (Class A)		8,035
2,549	e*	Entercom Communications Corp (Class A)		34,896
4,266	*	Entravision Communications Corp (Class A)		33,403
2,529	e*	Fairpoint Communications, Inc		32,928
8,070	e*	FiberTower Corp		18,400
523	*	Fisher Communications, Inc		19,853
11,950	*	Foundry Networks, Inc		209,364
3,128	*	General Communication, Inc (Class A)		27,370
1,280	*	GeoEye, Inc		43,072
3,324	e*	Global Crossing Ltd		73,294
5,861		Global Payments, Inc		272,654
1,429	e*	Globalstar, Inc		11,432
1,378	*	Golden Telecom, Inc		139,109
2,720		Gray Television, Inc		21,814
1,609	e*	Harris Stratex Networks, Inc (Class A)		26,870
2,451	e*	Hearst-Argyle Television, Inc		54,192
471	e*	Hughes Communications, Inc		25,721
13,577	*	IAC/InterActiveCorp		365,493
2,397	e*	Ibasis, Inc		12,297
7,585	e*	ICO Global Communications Holdings Ltd		24,120
3,466	e*	IDT Corp (Class B)		29,288
3,362	e*	Iowa Telecommunications Services, Inc		54,666
1,117		iPCS, Inc		40,201
4,182	e*	j2 Global Communications, Inc		88,533
1,886	e*	Knology, Inc		24,103
3,914	e*	Leap Wireless International, Inc		182,549
120,532	e*	Level 3 Communications, Inc		366,417
28,803	e*	Liberty Global, Inc (Class A)		1,128,790
10,037	*	Liberty Media Corp - Capital (Series A)		1,169,210
48,855	*	Liberty Media Holding Corp (Interactive A)		932,153
1,731	*	Lin TV Corp (Class A)		21,066
1,664	e*	Lodgenet Entertainment Corp		29,020
3,498	*	Mastec, Inc		35,575
3,808	e*	Mediacom Communications Corp (Class A)		17,479
4,193	*	MetroPCS Communications, Inc		81,554
6,087	*	NeuStar, Inc (Class A)		174,575
3,640	e*	Nexstar Broadcasting Group, Inc (Class A)		33,270
1,998	e*	Nextwave Wireless, Inc		10,749
13,204	*	NII Holdings, Inc		638,017
2,705	e*	North Pittsburgh Systems, Inc		61,376
2,620	e*	Novatel Wireless, Inc		42,444

99

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,038		NTELOS Holdings Corp	$	60,508
2,310	*	Orbcomm, Inc		14,530
5,054	e*	PAETEC Holding Corp		49,277
121,108		Qwest Communications International, Inc		848,967
4,809	*	Radio One, Inc (Class D)		11,397
1,810		RCN Corp		28,218
790	e*	Rural Cellular Corp (Class A)		34,831
680		Salem Communications Corp (Class A)		4,481
2,031	e*	SAVVIS, Inc		56,685
7,949	*	SBA Communications Corp (Class A)		268,994
1,530		Shenandoah Telecom Co		36,689
2,967	e*	Sinclair Broadcast Group, Inc (Class A)		24,359
2,978	e*	Spanish Broadcasting System, Inc (Class A)		5,509
214,825		Sprint Nextel Corp		2,820,652
1,132	e*	SureWest Communications		19,357
910	e*	Switch & Data Facilities Co, Inc		14,578
3,097	*	Syniverse Holdings, Inc		48,251
8,085		Telephone & Data Systems, Inc		506,121
3,425	e*	Terremark Worldwide, Inc		22,262
11,188	*	Time Warner Cable, Inc (Class A)		308,789
5,517	e*	TiVo, Inc		46,012
1,359	*	US Cellular Corp		114,292
1,775		USA Mobility, Inc		25,383
223,173		Verizon Communications, Inc		9,750,428
2,100	*	Virgin Mobile USA, Inc		18,669
2,083	e*	Vonage Holdings Corp		4,791
38,551		Windstream Corp		501,934
22,044	*	XM Satellite Radio Holdings, Inc (Class A)		269,819
		TOTAL COMMUNICATIONS		54,498,732
DEPOSITORY INSTITUTIONS - 7.18%
847		1st Source Corp		14,662
1,610		Alabama National Bancorp		125,274
2,315	e*	Amcore Financial, Inc		52,551
674	e*	AmericanWest Bancorp		11,883
686	e*	Ameris Bancorp		11,559
1,394	e*	Anchor Bancorp Wisconsin, Inc		32,787
10,303	e*	Associated Banc-Corp		279,108
6,319		Astoria Financial Corp		147,043
744	e*	Bancfirst Corp		31,880
1,982		Banco Latinoamericano de Exportaciones S.A.		32,326
574	e*	Bancorp, Inc		7,726
6,191		Bancorpsouth, Inc		146,170
4,203		Bank Mutual Corp		44,426
342,463		Bank of America Corp		14,130,023
3,876		Bank of Hawaii Corp		198,219
87,332		Bank of New York Mellon Corp		4,258,308
932	e*	Bank of the Ozarks, Inc		24,418
3,114	e*	BankAtlantic Bancorp, Inc (Class A)		12,767
1,731	e*	BankFinancial Corp		27,384
2,392	e*	BankUnited Financial Corp (Class A)		16,505
932	e*	Banner Corp		26,776
42,396	e*	BB&T Corp		1,300,285
2,500	*	Beneficial Mutual Bancorp, Inc		24,300

100

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
402		Berkshire Hills Bancorp, Inc	$	10,452
1,713		BOK Financial Corp		88,562
2,335		Boston Private Financial Holdings, Inc		63,232
4,247	e*	Brookline Bancorp, Inc		43,150
878	e*	Capital City Bank Group, Inc		24,777
640	e*	Capital Corp of the West		12,435
838		Capitol Bancorp Ltd		16,861
2,231	e*	Capitol Federal Financial		69,161
1,729	e*	Cascade Bancorp		24,068
416	e*	Cass Information Systems, Inc		13,899
4,114	e*	Cathay General Bancorp		108,980
3,680	e*	Centennial Bank Holdings, Inc		21,270
705	e*	Center Financial Corp		8,686
1,951		Central Pacific Financial Corp		36,015
1,721	e*	Chemical Financial Corp		40,943
3,766		Chittenden Corp		134,145
381,004		Citigroup, Inc		11,216,758
6,479	e*	Citizens Banking Corp		94,010
1,074	e*	City Bank		24,079
1,809		City Holding Co		61,217
3,388		City National Corp		201,755
665	e*	Clifton Savings Bancorp, Inc		6,517
851	e*	CoBiz, Inc		12,654
13,091	e*	Colonial Bancgroup, Inc		177,252
1,281		Columbia Banking System, Inc		38,084
11,906		Comerica, Inc		518,268
14,365		Commerce Bancorp, Inc		547,881
5,832		Commerce Bancshares, Inc		261,624
317	e*	Community Bancorp		5,506
2,176	e*	Community Bank System, Inc		43,237
986		Community Trust Bancorp, Inc		27,145
2,522	e*	Corus Bankshares, Inc		26,910
4,570		Cullen/Frost Bankers, Inc		231,516
4,509	e*	CVB Financial Corp		46,623
1,770		Dime Community Bancshares		22,603
1,168	e*	Dollar Financial Corp		35,846
1,702	e*	Downey Financial Corp		52,949
5,815	e*	East West Bancorp, Inc		140,897
506	e*	Enterprise Financial Services Corp		12,048
3,332	*	Euronet Worldwide, Inc		99,960
42,441		Fifth Third Bancorp		1,066,542
915	e*	First Bancorp		17,284
6,054		First Bancorp		44,134
2,657	e*	First Busey Corp		52,768
3,135	e*	First Charter Corp		93,611
531		First Citizens Bancshares, Inc (Class A)		77,446
5,866	e*	First Commonwealth Financial Corp		62,473
2,001	e*	First Community Bancorp, Inc		82,521
675	e*	First Community Bancshares, Inc		21,526
2,395		First Financial Bancorp		27,303
2,018	e*	First Financial Bankshares, Inc		75,978
1,067	e*	First Financial Corp		30,239
1,050	e*	First Financial Holdings, Inc		28,791
8,969	e*	First Horizon National Corp		162,787

101

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
988		First Indiana Corp	$	31,616
1,232		First Merchants Corp		26,907
4,559	e*	First Midwest Bancorp, Inc		139,505
9,160	e*	First Niagara Financial Group, Inc		110,286
990	e*	First Place Financial Corp		13,850
585	e*	First Regional Bancorp		11,051
587	e*	First South Bancorp, Inc		13,026
1,136		First State Bancorporation		15,790
1,227	e*	FirstFed Financial Corp		43,951
5,484	e*	FirstMerit Corp		109,735
2,890	e*	Flagstar Bancorp, Inc		20,143
1,422		Flushing Financial Corp		22,823
4,412	e*	FNB Corp		64,856
1,503	e*	Franklin Bank Corp		6,478
5,019	e*	Fremont General Corp		17,567
2,472	e*	Frontier Financial Corp		45,905
12,256	e*	Fulton Financial Corp		137,512
3,320	e*	Glacier Bancorp, Inc		62,217
796	e*	Great Southern Bancorp, Inc		17,480
1,549		Greene County Bancshares, Inc		29,741
2,298	e*	Hancock Holding Co		87,784
2,440	e*	Hanmi Financial Corp		21,033
2,147	e*	Harleysville National Corp		31,282
996	e*	Heartland Financial USA, Inc		18,496
751		Heritage Commerce Corp		13,811
842	e*	Home Bancshares, Inc		17,657
926	e*	Horizon Financial Corp		16,149
42,205	e*	Hudson City Bancorp, Inc		633,919
28,232		Huntington Bancshares, Inc		416,704
1,293	e*	IBERIABANK Corp		60,448
396		Imperial Capital Bancorp, Inc		7,247
1,012		Independent Bank Corp		27,547
1,412	e*	Independent Bank Corp		13,414
4,931	e*	IndyMac Bancorp, Inc		29,339
1,349	e*	Integra Bank Corp		19,034
3,421		International Bancshares Corp		71,636
3,385	*	Investors Bancorp, Inc		47,864
1,267	e*	Irwin Financial Corp		9,312
263,431		JPMorgan Chase & Co		11,498,763
1,143	e*	Kearny Financial Corp		13,613
30,666		Keycorp		719,118
1,910	e*	KNBT Bancorp, Inc		29,452
1,193	e*	Lakeland Bancorp, Inc		13,827
484	e*	Lakeland Financial Corp		10,116
6,042	e*	M&T Bank Corp		492,846
1,196	e*	Macatawa Bank Corp		10,274
747	e*	MainSource Financial Group, Inc		11,623
19,622		Marshall & Ilsley Corp		519,591
2,310	e*	MB Financial, Inc		71,217
6,540	*	Metavante Technologies, Inc		152,513
995		Midwest Banc Holdings, Inc		12,358
1,730	e*	Nara Bancorp, Inc		20,189
342	e*	NASB Financial, Inc		9,022
43,623	e*	National City Corp		718,035

102

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,167	e*	National Penn Bancshares, Inc	$	47,948
2,846	e*	NBT Bancorp, Inc		64,946
3,239	*	Net 1 UEPS Technologies, Inc		95,097
24,518	e*	New York Community Bancorp, Inc		431,026
8,912	e*	NewAlliance Bancshares, Inc		102,666
17,057		Northern Trust Corp		1,306,225
2,652	e*	Northwest Bancorp, Inc		70,464
4,545	e*	Old National Bancorp		67,993
950	e*	Old Second Bancorp, Inc		25,450
682	e*	Omega Financial Corp		19,955
1,407		Oriental Financial Group, Inc		18,868
3,392	e*	Pacific Capital Bancorp		68,281
985	e*	Park National Corp		63,532
753		Peoples Bancorp, Inc		18,742
15,762	e*	People's United Financial, Inc		280,564
1,515	e*	PFF Bancorp, Inc		18,241
936	e*	Pinnacle Financial Partners, Inc		23,793
26,901		PNC Financial Services Group, Inc		1,766,051
20,799		Popular, Inc		220,469
493	e*	Preferred Bank		12,828
1,112	e*	PrivateBancorp, Inc		36,307
2,331	e*	Prosperity Bancshares, Inc		68,508
2,200	e*	Provident Bankshares Corp		47,058
4,520	e*	Provident Financial Services, Inc		65,178
2,942	e*	Provident New York Bancorp		38,011
54,282		Regions Financial Corp		1,283,769
2,252	e*	Renasant Corp		48,576
405	e*	Republic Bancorp, Inc (Class A)		6,695
570	e*	Royal Bancshares of Pennsylvania (Class A)		6,270
2,040	e*	S&T Bancorp, Inc		56,386
994	e*	S.Y. Bancorp, Inc		23,796
1,080	e*	Sandy Spring Bancorp, Inc		30,046
501		Santander BanCorp		4,339
639	e*	SCBT Financial Corp		20,237
930	e*	Seacoast Banking Corp of Florida		9,560
1,242	e*	Security Bank Corp		11,352
251	e*	Sierra Bancorp		6,247
1,978	*	Signature Bank		66,758
1,157	e*	Simmons First National Corp (Class A)		30,661
5,289	e*	South Financial Group, Inc		82,667
814	e*	Southside Bancshares, Inc		16,654
763		Southwest Bancorp, Inc		13,986
32,149		Sovereign Bancorp, Inc		366,499
30,455		State Street Corp		2,472,946
1,269		Sterling Bancorp		17,309
4,840		Sterling Bancshares, Inc		54,014
1,876	e*	Sterling Financial Corp		30,804
3,665	e*	Sterling Financial Corp		61,535
699		Suffolk Bancorp		21,466
883	e*	Sun Bancorp, Inc		13,934
27,346		SunTrust Banks, Inc		1,708,852
2,466	e*	Superior Bancorp		13,242
6,918	e*	Susquehanna Bancshares, Inc		127,568
2,738	e*	SVB Financial Group		137,995

103

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
21,463	e*	Synovus Financial Corp	$	516,829
296		Taylor Capital Group, Inc		6,038
9,794	e*	TCF Financial Corp		175,606
1,548	*	Texas Capital Bancshares, Inc		28,251
7,658	e*	TFS Financial Corp		91,437
1,554	e*	TierOne Corp		34,421
549	e*	Tompkins Trustco, Inc		21,301
977	e*	Trico Bancshares		18,856
5,084	e*	Trustco Bank Corp NY		50,433
4,119	e*	Trustmark Corp		104,458
7,219	e*	UCBH Holdings, Inc		102,221
2,747	e*	UMB Financial Corp		105,375
4,445	e*	Umpqua Holdings Corp		68,186
902	e*	Union Bankshares Corp		19,068
4,013		UnionBanCal Corp		196,276
2,884	e*	United Bankshares, Inc		80,810
2,690	e*	United Community Banks, Inc		42,502
2,248	e*	United Community Financial Corp		12,409
296	e*	United Security Bancshares		4,523
793	e*	Univest Corp of Pennsylvania		16,740
134,368		US Bancorp		4,264,840
987	e*	USB Holding Co, Inc		19,543
9,501	e*	Valley National Bancorp		181,089
820		ViewPoint Financial Group		13,555
874	e*	Virginia Commerce Bancorp		10,252
7,361	e*	W Holding Co, Inc		8,907
153,376		Wachovia Corp		5,832,889
7,609	e*	Washington Federal, Inc		160,626
67,545		Washington Mutual, Inc		919,287
835	e*	Washington Trust Bancorp, Inc		21,067
439	e*	Wauwatosa Holdings, Inc		5,628
4,347		Webster Financial Corp		138,974
262,176		Wells Fargo & Co		7,915,093
1,413	e*	WesBanco, Inc		29,108
1,165		West Coast Bancorp		21,553
3,002	e*	Westamerica Bancorporation		133,739
888	e*	Western Alliance Bancorp		16,668
59,963		Western Union Co		1,455,902
1,692	e*	Westfield Financial, Inc		16,412
5,078	e*	Whitney Holding Corp		132,790
5,524	e*	Wilmington Trust Corp		194,445
1,162	e*	Wilshire Bancorp, Inc		9,122
1,892	e*	Wintrust Financial Corp		62,682
425		WSFS Financial Corp		21,335
8,365		Zions Bancorporation		390,562
		TOTAL DEPOSITORY INSTITUTIONS		89,601,602
EATING AND DRINKING PLACES - 0.88%
2,213	e*	AFC Enterprises		25,051
885	e*	Benihana, Inc (Class A)		11,284
685	e*	BJ's Restaurants, Inc		11,138
3,189	e*	Bob Evans Farms, Inc		85,880
8,259		Brinker International, Inc		161,546
1,121	e*	Buffalo Wild Wings, Inc		26,030

104

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,117	e*	Burger King Holdings, Inc	$	117,376
2,127	e*	California Pizza Kitchen, Inc		33,117
2,103	e*	CBRL Group, Inc		68,116
2,169	*	CEC Entertainment, Inc		56,307
5,222	e*	Cheesecake Factory		123,814
2,786	e*	Chipotle Mexican Grill, Inc (Class B)		342,817
4,601	e*	CKE Restaurants, Inc		60,733
11,193		Darden Restaurants, Inc		310,158
13,252	*	Denny's Corp		49,695
3,182		Domino's Pizza, Inc		42,098
1,407	e*	IHOP Corp		51,468
4,542	*	Jack in the Box, Inc		117,047
4,091	e*	Krispy Kreme Doughnuts, Inc		12,928
1,218	e*	Landry's Restaurants, Inc		23,995
788	e*	McCormick & Schmick's Seafood Restaurants, Inc		9,401
91,719		McDonald's Corp		5,403,166
421	*	Morton's Restaurant Group, Inc		3,928
1,468	e*	O'Charleys, Inc		21,991
1,562	*	Papa John's International, Inc		35,457
1,800	e*	PF Chang's China Bistro, Inc		41,112
1,322	e*	Red Robin Gourmet Burgers, Inc		42,291
4,035	e*	Ruby Tuesday, Inc		39,341
1,290	e*	Ruth's Chris Steak House, Inc		11,533
5,512	e*	Sonic Corp		120,713
57,052	*	Starbucks Corp		1,167,854
1,868	e*	Steak N Shake Co		20,361
3,274	e*	Texas Roadhouse, Inc (Class A)		36,210
14,715	e*	Tim Hortons, Inc		543,425
4,161	e*	Triarc Cos (Class B)		36,450
6,605		Wendy's International, Inc		170,673
39,304		Yum! Brands, Inc		1,504,164
		TOTAL EATING AND DRINKING PLACES		10,938,668
EDUCATIONAL SERVICES - 0.15%
11,222	*	Apollo Group, Inc (Class A)		787,223
6,895	e*	Career Education Corp		173,340
5,975	e*	Corinthian Colleges, Inc		92,015
4,663		DeVry, Inc		242,289
3,315	e*	ITT Educational Services, Inc		282,670
1,156		Strayer Education, Inc		197,190
2,118	e*	Universal Technical Institute, Inc		36,006
		TOTAL EDUCATIONAL SERVICES		1,810,733
ELECTRIC, GAS, AND SANITARY SERVICES - 4.14%
50,171	*	AES Corp		1,073,158
6,447		AGL Resources, Inc		242,665
12,815		Allegheny Energy, Inc		815,162
2,062		Allete, Inc		81,614
8,588		Alliant Energy Corp		349,446
22,172	*	Allied Waste Industries, Inc		244,335
16,250		Ameren Corp		880,913
873		American Ecology Corp		20,498
30,585		American Electric Power Co, Inc		1,424,038
1,088		American States Water Co		40,996

105

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
9,637		Aqua America, Inc	$	204,304
25,149	*	Aquila, Inc		93,806
6,808		Atmos Energy Corp		190,896
3,551		Avista Corp		76,489
2,739	e*	Black Hills Corp		120,790
1,248		California Water Service Group		46,201
1,535	*	Casella Waste Systems, Inc (Class A)		20,016
24,655		Centerpoint Energy, Inc		422,340
732		Central Vermont Public Service Corp		22,575
1,617	e*	CH Energy Group, Inc		72,021
700	*	Clean Energy Fuels Corp		10,598
1,671	*	Clean Harbors, Inc		86,391
4,015		Cleco Corp		111,617
16,876	e*	CMS Energy Corp		293,305
21,255		Consolidated Edison, Inc		1,038,307
1,060	e*	Consolidated Water Co, Inc		26,701
13,527		Constellation Energy Group, Inc		1,386,923
8,559	*	Covanta Holding Corp		236,742
2,664		Crosstex Energy, Inc		99,207
45,256		Dominion Resources, Inc		2,147,397
9,751	e*	DPL, Inc		289,117
13,418		DTE Energy Co		589,855
96,319		Duke Energy Corp		1,942,754
24,498	*	Dynegy, Inc (Class A)		174,916
25,163		Edison International		1,342,949
52,464		El Paso Corp		904,479
4,511	*	El Paso Electric Co		115,346
1,723		Empire District Electric Co		39,250
5,210		Energen Corp		334,638
13,002		Energy East Corp		353,784
2,300	*	EnergySolutions Inc		62,077
460	e*	EnergySouth, Inc		26,680
300	e*	EnerNOC, Inc		14,730
15,199		Entergy Corp		1,816,584
51,880		Exelon Corp		4,235,483
23,531		FirstEnergy Corp		1,702,233
31,163		FPL Group, Inc		2,112,228
6,961		Great Plains Energy, Inc		204,097
7,258	e*	Hawaiian Electric Industries, Inc		165,265
3,419	e*	Idacorp, Inc		120,417
6,094		Integrys Energy Group, Inc		314,999
3,079	e*	ITC Holdings Corp		173,717
1,456		Laclede Group, Inc		49,853
811	e*	Markwest Hydrocarbon, Inc		50,809
13,617		MDU Resources Group, Inc		375,965
1,728		Metal Management, Inc		78,676
1,299	e*	MGE Energy, Inc		46,076
19,578	e*	Mirant Corp		763,150
6,878	e*	National Fuel Gas Co		321,065
2,128	e*	New Jersey Resources Corp		106,443
3,204	e*	Nicor, Inc		135,689
19,935		NiSource, Inc		376,572
11,220		Northeast Utilities		351,298
2,153	e*	Northwest Natural Gas Co		104,765

106

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,402		NorthWestern Corp	$	100,359
18,615	e*	NRG Energy, Inc		806,774
8,938		NSTAR		323,734
6,920		OGE Energy Corp		251,127
8,097		Oneok, Inc		362,503
800		Ormat Technologies, Inc		44,008
2,406	e*	Otter Tail Corp		83,248
15,328		Pepco Holdings, Inc		449,570
27,062		PG&E Corp		1,166,102
1,112	e*	Pico Holdings, Inc		37,385
5,665		Piedmont Natural Gas Co, Inc		148,196
1,280	e*	Pike Electric Corp		21,453
7,548		Pinnacle West Capital Corp		320,111
5,546		PNM Resources, Inc		118,962
2,904		Portland General Electric Co		80,673
29,670		PPL Corp		1,545,510
20,270		Progress Energy, Inc		981,676
773	m,v*	Progress Energy, Inc		8
19,501		Public Service Enterprise Group, Inc		1,915,778
9,769		Puget Energy, Inc		267,964
13,328		Questar Corp		721,045
25,591	*	Reliant Energy, Inc		671,508
13,032		Republic Services, Inc		408,553
1,550	e*	Resource America, Inc (Class A)		22,739
9,266		SCANA Corp		390,562
20,332		Sempra Energy		1,258,144
16,532		Sierra Pacific Resources		280,713
1,222	e*	SJW Corp		42,367
2,516	e*	South Jersey Industries, Inc		90,802
58,468		Southern Co		2,265,635
8,576		Southern Union Co		251,791
3,060		Southwest Gas Corp		91,096
1,337	e*	Southwest Water Co		16,739
6,688	*	Stericycle, Inc		397,267
15,882		TECO Energy, Inc		273,329
8,836		UGI Corp		240,781
1,465	e*	UIL Holdings Corp		54,132
2,575		Unisource Energy Corp		81,241
5,581	e*	Vectren Corp		161,905
6,048	*	Waste Connections, Inc		186,883
800		Waste Industries USA, Inc		29,040
1,264	e*	Waste Services, Inc		10,832
6,899		Westar Energy, Inc		178,960
3,922	e*	WGL Holdings, Inc		128,485
46,009		Williams Cos, Inc		1,646,202
9,193		Wisconsin Energy Corp		447,791
31,177		Xcel Energy, Inc		703,665
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		51,752,758
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.70%
1,190	e*	Acme Packet, Inc		14,982
2,034	*	Actel Corp		27,784
3,364		Acuity Brands, Inc		151,380
7,913	*	Adaptec, Inc		26,746

107

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
8,023	*	ADC Telecommunications, Inc	$	124,758
4,569	e*	Adtran, Inc		97,685
6,179	*	Advanced Analogic Technologies, Inc		69,699
3,940	e*	Advanced Energy Industries, Inc		51,535
46,331	e*	Advanced Micro Devices, Inc		347,483
26,236		Altera Corp		506,880
3,424	e*	American Superconductor Corp		93,612
7,886		Ametek, Inc		369,380
4,872	*	AMIS Holdings, Inc		48,817
10,337	e*	Amkor Technology, Inc		88,175
14,068		Amphenol Corp (Class A)		652,333
5,432	e*	Anadigics, Inc		62,848
24,602		Analog Devices, Inc		779,883
66,577	*	Apple Computer, Inc		13,187,572
6,957	*	Applied Micro Circuits Corp		60,809
8,906	*	Arris Group, Inc		88,890
4,102	*	Atheros Communications, Inc		125,275
33,680	*	Atmel Corp		145,498
2,319	*	ATMI, Inc		74,788
21,071	e*	Avanex Corp		21,071
11,418	*	Avnet, Inc		399,287
3,267	e*	AVX Corp		43,843
860	e*	AZZ, Inc		24,381
3,139		Baldor Electric Co		105,659
831		Bel Fuse, Inc (Class B)		24,323
5,858	*	Benchmark Electronics, Inc		103,862
929	e*	BigBand Networks, Inc		4,775
35,077	*	Broadcom Corp (Class A)		916,913
1,968	e*	Ceradyne, Inc		92,358
3,547	*	Checkpoint Systems, Inc		92,151
6,915	*	Ciena Corp		235,871
467,751	*	Cisco Systems, Inc		12,662,020
1,676	*	Comtech Telecommunications Corp		90,521
33,104	*	Conexant Systems, Inc		27,476
13,738		Cooper Industries Ltd (Class A)		726,465
6,476	e*	Cree, Inc		177,896
2,860	e*	CTS Corp		28,400
1,286		Cubic Corp		50,411
12,225	*	Cypress Semiconductor Corp		440,467
2,008	e*	Diodes, Inc		60,381
10,718	e*	Ditech Networks, Inc		37,191
2,867	*	Dolby Laboratories, Inc (Class A)		142,547
2,395	*	DSP Group, Inc		29,219
1,298	e*	DTS, Inc		33,190
11,338		Eaton Corp		1,099,219
2,090	*	Electro Scientific Industries, Inc		41,487
1,000	*	EMS Technologies, Inc		30,240
4,368	*	Energizer Holdings, Inc		489,784
2,636	e*	Energy Conversion Devices, Inc		88,701
3,108	*	EnerSys		77,576
9,651	e*	Evergreen Solar, Inc		166,673
2,144	e*	Exar Corp		17,088
9,427	*	Fairchild Semiconductor International, Inc		136,032
21,254	e*	Finisar Corp		30,818

108

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,829	*	First Solar, Inc	$	755,739
1,518	e*	Franklin Electric Co, Inc		58,094
8,256	e*	FuelCell Energy, Inc		81,900
17,281	*	Gemstar-TV Guide International, Inc		82,258
2,206	*	Genlyte Group, Inc		210,011
9,701	*	GrafTech International Ltd		172,193
1,267	e*	Greatbatch, Inc		25,327
4,995		Harman International Industries, Inc		368,181
8,009	*	Harmonic, Inc		83,934
10,313		Harris Corp		646,419
2,217	*	Helen of Troy Ltd		37,999
7,028	*	Hexcel Corp		170,640
1,184	*	Hittite Microwave Corp		56,548
60,032		Honeywell International, Inc		3,696,170
1,549	*	Hutchinson Technology, Inc		40,770
2,318	e*	Imation Corp		48,678
1,000	*	Infinera Corp		14,840
16,319	*	Integrated Device Technology, Inc		184,568
447,037		Intel Corp		11,918,006
3,553	*	InterDigital, Inc		82,891
5,812	e*	International Rectifier Corp		197,434
9,826		Intersil Corp (Class A)		240,540
2,611	*	InterVoice, Inc		20,862
711	*	IPG Photonics Corp		14,213
820	e*	iRobot Corp		14,826
1,213	*	IXYS Corp		9,728
5,621	e*	Jarden Corp		132,712
15,125	e*	JDS Uniphase Corp		201,163
6,433	*	Kemet Corp		42,651
9,392		L-3 Communications Holdings, Inc		994,988
7,232	e*	Lattice Semiconductor Corp		23,504
3,217		Lincoln Electric Holdings, Inc		228,986
16,590	e*	Linear Technology Corp		528,060
1,486	*	Littelfuse, Inc		48,979
765	*	Loral Space & Communications, Inc		26,201
1,191	e*	LSI Industries, Inc		21,676
55,867	e*	LSI Logic Corp		296,654
36,769	*	Marvell Technology Group Ltd		514,031
3,972	*	Mattson Technology, Inc		34,000
4,190	e*	Medis Technologies Ltd		64,652
419	m,v*	Medis Technologies Ltd		(0)
17,258	*	MEMC Electronic Materials, Inc		1,527,160
1,417	*	Mercury Computer Systems, Inc		22,828
3,008		Methode Electronics, Inc		49,452
4,803		Micrel, Inc		40,585
16,340		Microchip Technology, Inc		513,403
56,569	e*	Micron Technology, Inc		410,125
5,525	*	Microsemi Corp		122,324
3,670	*	Microtune, Inc		23,965
3,813	e*	MIPS Technologies, Inc		18,912
9,991		Molex, Inc		272,754
1,603	*	Monolithic Power Systems, Inc		34,416
2,916	*	Moog, Inc (Class A)		133,582
176,812		Motorola, Inc		2,836,064

109

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
15,196	e*	MRV Communications, Inc	$	35,255
683	*	Multi-Fineline Electronix, Inc		11,843
309		National Presto Industries, Inc		16,272
22,801		National Semiconductor Corp		516,215
1,926	e*	Netlogic Microsystems, Inc		62,017
28,520	*	Network Appliance, Inc		711,859
9,584	e*	Novellus Systems, Inc		264,231
41,947	*	Nvidia Corp		1,427,037
4,385	*	Omnivision Technologies, Inc		68,625
16,832	e*	ON Semiconductor Corp		149,468
8,251	e*	On2 Technologies, Inc		8,416
18,386	e*	Openwave Systems, Inc		47,804
1,582	*	Oplink Communications, Inc		24,284
1,500	e*	OpNext, Inc		13,275
4,180	*	Optium Corp		32,938
922	*	OSI Systems, Inc		24,405
1,256		Park Electrochemical Corp		35,469
1,095	*	Pericom Semiconductor Corp		20,477
3,034	*	Photronics, Inc		37,834
3,457		Plantronics, Inc		89,882
3,964	*	Plexus Corp		104,095
3,407	*	PLX Technology, Inc		31,685
16,441	e*	PMC - Sierra, Inc		107,524
6,676	*	Polycom, Inc		185,459
1,790	*	Polypore International, Inc		31,325
350	*	Powell Industries, Inc		15,425
4,862	*	Power-One, Inc		19,399
11,780	e*	Powerwave Technologies, Inc		47,473
11,852	*	QLogic Corp		168,298
128,341		Qualcomm, Inc		5,050,218
9,864	e*	RadioShack Corp		166,307
9,506	e*	Rambus, Inc		199,056
1,106	e*	Raven Industries, Inc		42,459
2,673		Regal-Beloit Corp		120,151
20,681	*	RF Micro Devices, Inc		118,089
1,214	*	Rogers Corp		52,651
40,403	*	Sanmina-SCI Corp		73,533
2,218	*	Seachange International, Inc		16,036
5,307	*	Semtech Corp		82,365
8,311	*	Silicon Image, Inc		37,566
3,931	*	Silicon Laboratories, Inc		147,137
6,899	*	Silicon Storage Technology, Inc		20,628
114,453	e*	Sirius Satellite Radio, Inc		346,793
12,128	*	Skyworks Solutions, Inc		103,088
3,650	*	Smart Modular Technologies WWH, Inc		37,157
5,780	e*	Spansion, Inc (Class A)		22,715
4,136	e*	Spectrum Brands, Inc		22,045
1,620	*	Standard Microsystems Corp		63,293
600	e*	Starent Networks Corp		10,950
1,067	*	Stoneridge, Inc		8,579
2,135	e*	Sunpower Corp (Class A)		278,383
885	e*	Supertex, Inc		27,692
11,962	*	Sycamore Networks, Inc		45,934
3,492	e*	Symmetricom, Inc		16,447

110

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,882	e*	Synaptics, Inc	$	77,463
9,130	e*	Syntax-Brillian Corp		28,120
2,698		Technitrol, Inc		77,109
1,290	e*	Techwell, Inc		14,203
3,831	e*	Tekelec		47,888
2,845		Teleflex, Inc		179,263
32,326	e*	Tellabs, Inc		211,412
3,366	*	Tessera Technologies, Inc		140,026
110,392		Texas Instruments, Inc		3,687,093
4,226	*	Thomas & Betts Corp		207,243
4,543	*	Trident Microsystems, Inc		29,802
8,908	*	Triquint Semiconductor, Inc		59,060
3,103	*	TTM Technologies, Inc		36,181
38,033		Tyco Electronics Ltd		1,412,165
1,387	*	Ultra Clean Holdings		16,921
1,534	e*	Universal Display Corp		31,708
1,021	*	Universal Electronics, Inc		34,142
10,172	e*	Utstarcom, Inc		27,973
6,832	*	Varian Semiconductor Equipment Associates, Inc		252,784
1,525	*	Viasat, Inc		52,506
1,042	e*	Vicor Corp		16,245
12,885	*	Vishay Intertechnology, Inc		147,018
832	e*	Volterra Semiconductor Corp		9,177
5,963	e*	Whirlpool Corp		486,760
23,178	e*	Xilinx, Inc		506,903
1,860	e*	Zoltek Cos, Inc		79,738
4,035	*	Zoran Corp		90,828
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		83,718,996
ENGINEERING AND MANAGEMENT SERVICES - 0.91%
1,637	*	Advisory Board Co		105,079
2,940	e*	Aecom Technology Corp		83,996
10,394	e*	Amylin Pharmaceuticals, Inc		384,578
4,845	*	Applera Corp (Celera Genomics Group)		76,890
5,437	e*	Ariad Pharmaceuticals, Inc		23,107
811		CDI Corp		19,675
29,104	*	Celgene Corp		1,344,896
250	e*	comScore, Inc		8,157
793	*	Cornell Cos, Inc		18,493
3,019	e*	Corporate Executive Board Co		181,442
1,065	*	CRA International, Inc		50,705
4,501	*	CV Therapeutics, Inc		40,734
1,744		Diamond Management & Technology Consultants, Inc		12,679
3,591	*	eResearch Technology, Inc		42,446
7,070	e*	Exelixis, Inc		61,014
1,038	*	Exponent, Inc		28,067
6,669		Fluor Corp		971,807
1,400	*	Genpact Ltd		21,322
4,049	*	Gen-Probe, Inc		254,804
1,576	*	Greenfield Online, Inc		23,025
3,538	*	Harris Interactive, Inc		15,072
6,892	*	Hewitt Associates, Inc (Class A)		263,895
1,583	*	Huron Consulting Group, Inc		127,637
7,808	*	Incyte Corp		78,470

111

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,424	e*	Isis Pharmaceuticals, Inc	$	101,178
8,928	*	Jacobs Engineering Group, Inc		853,606
13,361	*	KBR, Inc		518,407
833	*	Kendle International, Inc		40,750
3,019	e*	Kosan Biosciences, Inc		10,868
632		Landauer, Inc		32,769
1,618	*	LECG Corp		24,367
2,193	e*	Lifecell Corp		94,540
2,021	e*	Luminex Corp		32,821
1,528		MAXIMUS, Inc		58,996
1,732	*	Maxygen, Inc		13,908
16,990	*	McDermott International, Inc		1,002,920
528	*	Michael Baker Corp		21,701
17,035	e*	Moody's Corp		608,150
546	*	MTC Technologies, Inc		12,831
3,130	e*	Myriad Genetics, Inc		145,294
4,194	e*	Navigant Consulting, Inc		57,332
2,350	e*	Neurogen Corp		8,107
3,287	*	Omnicell, Inc		88,519
26,499		Paychex, Inc		959,794
1,251	*	PharmaNet Development Group, Inc		49,052
11,896		Quest Diagnostics, Inc		629,298
2,153	*	Regeneration Technologies, Inc		18,688
4,562	e*	Regeneron Pharmaceuticals, Inc		110,172
20,344	*	Rentech, Inc		36,823
3,290		Resources Connection, Inc		59,746
2,184	e*	Rigel Pharmaceuticals, Inc		55,452
10,362	*	SAIC, Inc		208,483
5,306	e*	Savient Pharmaceuticals, Inc		121,879
3,046	e*	Seattle Genetics, Inc		34,724
2,432	e*	Senomyx, Inc		18,216
5,961	*	Shaw Group, Inc		360,283
820	*	Stanley, Inc		26,256
1,965	e*	Symyx Technologies, Inc		15,091
1,084	e*	Tejon Ranch Co		44,281
6,868	e*	Telik, Inc		23,832
4,560	*	Tetra Tech, Inc		98,040
6,190	*	URS Corp		336,303
6,819	e*	Verenium Corp		34,027
3,388		Watson Wyatt & Co Holdings (Class A)		157,237
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		11,362,731
ENVIRONMENTAL QUALITY AND HOUSING - 0.00% **
4,611	e*	Home Solutions of America, Inc		4,611
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		4,611
FABRICATED METAL PRODUCTS - 0.52%
2,854	*	Alliant Techsystems, Inc		324,671
791		Ameron International Corp		72,891
5,063		Aptargroup, Inc		207,127
7,848		Ball Corp		353,160
910	*	Chart Industries, Inc		28,119
1,254		CIRCOR International, Inc		58,135
8,960		Commercial Metals Co		263,872

112

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,301	e*	Commercial Vehicle Group, Inc	$	47,864
3,734		Crane Co		160,189
12,346	*	Crown Holdings, Inc		316,675
1,300	e*	Dynamic Materials Corp		76,570
2,117	e*	Griffon Corp		26,357
1,051		Gulf Island Fabrication, Inc		33,327
37,987		Illinois Tool Works, Inc		2,033,824
1,657	e*	Insteel Industries, Inc		19,437
945	e*	Ladish Co, Inc		40,814
595	e*	Lifetime Brands, Inc		7,723
3,177	e*	Mobile Mini, Inc		58,902
8,222	e*	Mueller Water Products, Inc (Class A)		78,273
1,525	e*	NCI Building Systems, Inc		43,905
13,083		Parker Hannifin Corp		985,281
605	*	Park-Ohio Holdings Corp		15,186
7,584		Pentair, Inc		263,999
1,910	*	PGT, Inc		9,091
1,793		Silgan Holdings, Inc		93,128
2,518	e*	Simpson Manufacturing Co, Inc		66,954
3,369	e*	Smith & Wesson Holding Corp		20,551
4,219		Snap-On, Inc		203,525
6,673	e*	Stanley Works		323,507
1,650	e*	Sturm Ruger & Co, Inc		13,662
815	e*	Sun Hydraulics Corp		20,562
5,486	e*	Taser International, Inc		78,944
1,274	e*	Valmont Industries, Inc		113,539
2,268	e*	Watts Water Technologies, Inc (Class A)		67,586
		TOTAL FABRICATED METAL PRODUCTS		6,527,350
FOOD AND KINDRED PRODUCTS - 3.49%
1,509	e*	Altus Pharmaceuticals, Inc		7,817
58,552		Anheuser-Busch Cos, Inc		3,064,612
50,281		Archer Daniels Midland Co		2,334,547
717	e*	Boston Beer Co, Inc (Class A)		26,995
9,363		Bunge Ltd		1,089,947
17,611		Campbell Soup Co		629,241
336		Coca-Cola Bottling Co Consolidated		19,784
177,926		Coca-Cola Co		10,919,319
23,956		Coca-Cola Enterprises, Inc		623,575
38,902		ConAgra Foods, Inc		925,479
13,958	e*	Constellation Brands, Inc (Class A)		329,967
5,619		Corn Products International, Inc		206,498
8,732	*	Darling International, Inc		100,942
15,422		Del Monte Foods Co		145,892
590	e*	Farmer Bros Co		13,564
6,492	e*	Flowers Foods, Inc		151,978
25,668		General Mills, Inc		1,463,076
25,271		H.J. Heinz Co		1,179,650
5,204	e*	Hansen Natural Corp		230,485
12,891	e*	Hershey Co		507,905
5,632		Hormel Foods Corp		227,983
773	e*	Imperial Sugar Co		14,509
1,061		J&J Snack Foods Corp		33,188
4,724		J.M. Smucker Co		243,003

113

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,464	*	Jones Soda Co	$	10,892
18,487		Kellogg Co		969,273
123,341		Kraft Foods, Inc (Class A)		4,024,617
1,831		Lancaster Colony Corp		72,691
2,200		Lance, Inc		44,924
880	e*	M&F Worldwide Corp		47,388
9,882		McCormick & Co, Inc		374,627
624		MGP Ingredients, Inc		5,878
8,214		Molson Coors Brewing Co (Class B)		424,007
280		National Beverage Corp		2,251
760	e*	Peet's Coffee & Tea, Inc		22,093
11,110		Pepsi Bottling Group, Inc		438,401
4,740		PepsiAmericas, Inc		157,937
125,511		PepsiCo, Inc		9,526,285
3,223	*	Performance Food Group Co		86,602
1,934	*	Ralcorp Holdings, Inc		117,568
1,307	e*	Reddy Ice Holdings, Inc		33,080
1,125	e*	Sanderson Farms, Inc		38,003
57,763		Sara Lee Corp		927,674
7,945	e*	Smithfield Foods, Inc		229,769
3,000	e*	Tootsie Roll Industries, Inc		82,260
2,537	e*	TreeHouse Foods, Inc		58,326
19,086		Tyson Foods, Inc (Class A)		292,588
18,630		Wrigley (Wm.) Jr Co		1,090,787
		TOTAL FOOD AND KINDRED PRODUCTS		43,567,877
FOOD STORES - 0.33%
105		Arden Group, Inc (Class A)		16,242
1,533		Great Atlantic & Pacific Tea Co, Inc		48,029
1,053		Ingles Markets, Inc (Class A)		26,736
54,609		Kroger Co		1,458,606
2,089	e*	Panera Bread Co (Class A)		74,828
1,523	e*	Pantry, Inc		39,796
2,653		Ruddick Corp		91,980
34,278		Safeway, Inc		1,172,650
16,009		Supervalu, Inc		600,658
1,576		Weis Markets, Inc		62,945
10,830	e*	Whole Foods Market, Inc		441,864
2,499	e*	Winn-Dixie Stores, Inc		42,158
		TOTAL FOOD STORES		4,076,492
FORESTRY - 0.12%
5,897		Rayonier, Inc		278,574
16,241		Weyerhaeuser Co		1,197,611
		TOTAL FORESTRY		1,476,185
FURNITURE AND FIXTURES - 0.28%
2,218	e*	Ethan Allen Interiors, Inc		63,213
2,961	e*	Furniture Brands International, Inc		29,788
4,756		Herman Miller, Inc		154,047
4,955		Hillenbrand Industries, Inc		276,142
3,718	e*	HNI Corp		130,353
472	e*	Hooker Furniture Corp		9,487
3,905		Interface, Inc (Class A)		63,730

114

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
45,501		Johnson Controls, Inc	$	1,639,856
1,541	e*	Kimball International, Inc (Class B)		21,112
2,848	e*	La-Z-Boy, Inc		22,585
13,454	e*	Leggett & Platt, Inc		234,638
29,045		Masco Corp		627,662
3,423	e*	Sealy Corp		38,303
3,453	e*	Select Comfort Corp		24,206
6,929	e*	Tempur-Pedic International, Inc		179,946
		TOTAL FURNITURE AND FIXTURES		3,515,068
FURNITURE AND HOME FURNISHINGS STORES - 0.17%
20,997	e*	Bed Bath & Beyond, Inc		617,102
12,474	e*	Circuit City Stores, Inc		52,391
11,860	*	GameStop Corp (Class A)		736,625
1,389	e*	Haverty Furniture Cos, Inc		12,487
3,714		Knoll, Inc		61,021
4,169	e*	Mohawk Industries, Inc		310,174
9,172	*	Pier 1 Imports, Inc		47,970
6,361		Steelcase, Inc (Class A)		100,949
1,646	e*	Tuesday Morning Corp		8,345
6,605	e*	Williams-Sonoma, Inc		171,070
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		2,118,134
GENERAL BUILDING CONTRACTORS - 0.18%
200	e*	Amrep Corp		6,110
788	e*	Avatar Holdings, Inc		32,954
5,590	e*	Beazer Homes USA, Inc		41,534
1,171	e*	Brookfield Homes Corp		18,502
10,120		Centex Corp		255,631
25,314		DR Horton, Inc		333,385
5,360	e*	Hovnanian Enterprises, Inc (Class A)		38,431
5,593	e*	KB Home		120,809
11,099	e*	Lennar Corp (Class A)		198,561
1,170	e*	M/I Homes, Inc		12,285
2,384		McGrath RentCorp		61,388
2,585	e*	MDC Holdings, Inc		95,981
3,698	e*	Meritage Homes Corp		53,880
322	e*	NVR, Inc		168,728
984	e*	Palm Harbor Homes, Inc		10,381
1,931	*	Perini Corp		79,982
17,229	e*	Pulte Homes, Inc		181,594
3,725	e*	Ryland Group, Inc		102,624
7,641	e*	Standard-Pacific Corp		25,597
1,152	e*	Team, Inc		42,140
9,128	e*	Toll Brothers, Inc		183,108
3,768		Walter Industries, Inc		135,384
2,426	e*	WCI Communities, Inc		9,170
		TOTAL GENERAL BUILDING CONTRACTORS		2,208,159
GENERAL MERCHANDISE STORES - 1.46%
2,769	e*	99 Cents Only Stores		22,041
8,184	e*	Big Lots, Inc		130,862
4,739	*	BJ's Wholesale Club, Inc		160,320
1,918	e*	Bon-Ton Stores, Inc		18,202

115

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,805	e*	Cabela's, Inc	$	57,341
4,078		Casey's General Stores, Inc		120,750
588	e*	Conn's, Inc		10,061
34,187		Costco Wholesale Corp		2,384,885
4,799	e*	Dillard's, Inc (Class A)		90,125
10,966		Family Dollar Stores, Inc		210,876
2,660	e*	Fred's, Inc		25,616
16,959		JC Penney Co, Inc		746,026
34,478		Macy's, Inc		891,946
3,983	e*	Retail Ventures, Inc		20,273
10,082	e*	Saks, Inc		209,302
1,431	e*	Stein Mart, Inc		6,783
65,777		Target Corp		3,288,850
34,118		TJX Cos, Inc		980,210
185,131		Wal-Mart Stores, Inc		8,799,276
		TOTAL GENERAL MERCHANDISE STORES		18,173,745
HEALTH SERVICES - 1.35%
1,564	*	Alliance Imaging, Inc		15,046
2,499	e*	Amedisys, Inc		121,251
889	e*	American Dental Partners, Inc		8,917
12,853		AmerisourceBergen Corp		576,714
2,963	*	Amsurg Corp		80,179
3,023	*	Apria Healthcare Group, Inc		65,206
4,413	*	Assisted Living Concepts, Inc (A Shares)		33,098
839	e*	Bio-Reference Labs, Inc		27,419
2,109	e*	Brookdale Senior Living, Inc		59,917
21,592		Cigna Corp		1,160,138
7,827	e*	Community Health Systems, Inc		288,503
498	*	Corvel Corp		11,464
4,755	*	Covance, Inc		411,878
12,024	*	Coventry Health Care, Inc		712,422
2,028	e*	Cross Country Healthcare, Inc		28,879
1,679	e*	CryoLife, Inc		13,348
8,297	*	DaVita, Inc		467,536
4,490	*	Edwards Lifesciences Corp		206,495
884	*	eHealth, Inc		28,385
900	e*	Emeritus Corp		22,635
1,710	*	Enzo Biochem, Inc		21,785
16,984	*	Express Scripts, Inc		1,239,832
900	*	FGX International Holdings Ltd		10,665
1,154	e*	Genomic Health, Inc		26,127
400	*	Genoptix Inc		12,280
3,149	*	Gentiva Health Services, Inc		59,957
17,357	e*	Health Management Associates, Inc (Class A)		103,795
6,590	e*	Healthsouth Corp		138,390
2,689	e*	Healthways, Inc		157,145
5,320	e*	Hythiam, Inc		15,588
15,671	e*	Immunomedics, Inc		36,357
2,207	*	Kindred Healthcare, Inc		55,131
8,939	*	Laboratory Corp of America Holdings		675,163
1,585	e*	LCA-Vision, Inc		31,652
768	e*	LHC Group, Inc		19,185
4,530	*	LifePoint Hospitals, Inc		134,722

116

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,209	*	Lincare Holdings, Inc	$	218,308
2,682	*	Magellan Health Services, Inc		125,062
1,505	*	Matria Healthcare, Inc		35,774
23,048		McKesson Corp		1,509,874
1,465	*	Medcath Corp		35,980
21,472	*	Medco Health Solutions, Inc		2,177,261
429	e*	National Healthcare Corp		22,179
9,367	*	Nektar Therapeutics		62,853
1,558	*	Nighthawk Radiology Holdings, Inc		32,796
2,530	*	Odyssey HealthCare, Inc		27,982
9,147		Omnicare, Inc		208,643
4,063	*	Pediatrix Medical Group, Inc		276,893
7,485		Pharmaceutical Product Development, Inc		302,169
4,222	e*	Psychiatric Solutions, Inc		137,215
818	e*	Radiation Therapy Services, Inc		25,284
1,135	*	RehabCare Group, Inc		25,606
3,888	*	Sierra Health Services, Inc		163,140
1,633	*	Skilled Healthcare Group, Inc (Class A)		23,891
2,010	e*	Stereotaxis, Inc		24,562
3,260	*	Sun Healthcare Group, Inc		55,974
3,447	e*	Sunrise Senior Living, Inc		105,754
35,326	e*	Tenet Healthcare Corp		179,456
3,216		Universal Health Services, Inc (Class B)		164,659
44,167	*	WellPoint, Inc		3,874,771
		TOTAL HEALTH SERVICES		16,893,290
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.08%
990	e*	Comverge, Inc		31,175
5,433	*	Foster Wheeler Ltd		842,224
2,564		Granite Construction, Inc		92,766
3,510		Great Lakes Dredge & Dock Corp		30,607
2,299	*	Matrix Service Co		50,164
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		1,046,936
HOLDING AND OTHER INVESTMENT OFFICES - 2.53%
3,304	e*	Acadia Realty Trust		84,615
2,209	e*	Affiliated Managers Group, Inc		259,469
783	e*	Agree Realty Corp		23,568
4,709	e*	Alesco Financial, Inc		15,446
159	e*	Alexander's, Inc		56,167
2,492		Alexandria Real Estate Equities, Inc		253,362
12,118	e*	Allied Capital Corp		260,537
7,814		AMB Property Corp		449,774
1,847		American Campus Communities, Inc		49,592
8,669		American Financial Realty Trust		69,525
30,431		Annaly Mortgage Management, Inc		553,236
4,436	e*	Anthracite Capital, Inc		32,117
4,167		Anworth Mortgage Asset Corp		34,419
7,162	e*	Apartment Investment & Management Co (Class A)		248,736
9,880	e*	Apollo Investment Corp		168,454
583	e*	Arbor Realty Trust, Inc		9,392
6,698	e*	Ashford Hospitality Trust, Inc		48,159
1,112		Associated Estates Realty Corp		10,497
5,956		AvalonBay Communities, Inc		560,698

117

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
5,567		BioMed Realty Trust, Inc	$	128,987
7,759		Boston Properties, Inc		712,354
6,374		Brandywine Realty Trust		114,286
3,781		BRE Properties, Inc (Class A)		153,244
514	e*	BRT Realty Trust		7,864
4,080		Camden Property Trust		196,452
2,045		Capital Lease Funding, Inc		17,219
190	e*	Capital Southwest Corp		22,496
1,313	e*	Capital Trust, Inc (Class A)		40,243
4,836		CBL & Associates Properties, Inc		115,629
9,000	e*	CBRE Realty Finance, Inc		48,060
2,657		Cedar Shopping Centers, Inc		27,181
484	e*	Cherokee, Inc		15,619
3,498		Colonial Properties Trust		79,160
3,280	e*	Corporate Office Properties Trust		103,320
2,816		Cousins Properties, Inc		62,234
4,036	e*	Crystal River Capital, Inc		58,280
12,020		DCT Industrial Trust, Inc		111,906
7,878	e*	Deerfield Capital Corp		63,024
9,334		Developers Diversified Realty Corp		357,399
6,775		DiamondRock Hospitality Co		101,490
3,858		Digital Realty Trust, Inc		148,031
8,477		Douglas Emmett, Inc		191,665
10,360		Duke Realty Corp		270,189
1,703		EastGroup Properties, Inc		71,271
1,434		Education Realty Trust, Inc		16,118
2,127	e*	Entertainment Properties Trust		99,969
1,768		Equity Lifestyle Properties, Inc		80,745
2,960	e*	Equity One, Inc		68,169
22,303		Equity Residential		813,390
2,054		Essex Property Trust, Inc		200,244
4,460	e*	Extra Space Storage, Inc		63,733
4,190		Federal Realty Investment Trust		344,209
4,582		FelCor Lodging Trust, Inc		71,433
3,613	e*	First Industrial Realty Trust, Inc		125,010
1,281		First Potomac Realty Trust		22,148
4,433		Franklin Street Properties Corp		65,608
13,411	e*	Friedman Billings Ramsey Group, Inc (Class A)		42,111
16,227		General Growth Properties, Inc		668,228
1,384	e*	Getty Realty Corp		36,925
631	e*	Gladstone Capital Corp		10,727
2,416	e*	Glimcher Realty Trust		34,525
2,980		GMH Communities Trust		16,450
2,315	e*	Gramercy Capital Corp		56,278
15,446		HCP, Inc		537,212
6,094		Health Care REIT, Inc		272,341
3,074		Healthcare Realty Trust, Inc		78,049
4,843		Hersha Hospitality Trust		46,009
2,150	e*	HFF, Inc (Class A)		16,641
3,878		Highwoods Properties, Inc		113,936
4,346	e*	Hilltop Holdings, Inc		47,458
2,685		Home Properties, Inc		120,422
7,071		Hospitality Properties Trust		227,828
39,923		Host Marriott Corp		680,288

118

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
14,566		HRPT Properties Trust	$	112,595
7,504	e*v	IMPAC Mortgage Holdings, Inc		4,127
5,374	e*	Inland Real Estate Corp		76,096
3,321		Investors Real Estate Trust		29,789
94,000	e*	iShares Russell 3000 Index Fund		7,933,600
10,115	e*	iStar Financial, Inc		263,496
3,764	e*	Jamba, Inc		13,927
1,554	e*	JER Investors Trust, Inc		16,737
2,449		Kilroy Realty Corp		134,597
16,483		Kimco Realty Corp		599,981
2,360		Kite Realty Group Trust		36,037
2,948		LaSalle Hotel Properties		94,041
4,865	e*	Lexington Corporate Properties Trust		70,737
6,696	e*	Liberty Property Trust		192,912
1,903		LTC Properties, Inc		47,670
4,317	e*v	Luminent Mortgage Capital, Inc		3,367
5,204		Macerich Co		369,796
5,231		Mack-Cali Realty Corp		177,854
2,728	e*	Maguire Properties, Inc		80,394
2,665		Medical Properties Trust, Inc		27,156
4,180	*	Meruelo Maddux Properties, Inc		16,720
8,541		MFA Mortgage Investments, Inc		79,004
2,242		Mid-America Apartment Communities, Inc		95,846
1,462	e*	Mission West Properties, Inc		13,904
1,200		MVC Capital, Inc		19,368
1,805	e*	National Health Investors, Inc		50,360
6,133		National Retail Properties, Inc		143,390
6,297		Nationwide Health Properties, Inc		197,537
2,998	e*	Newcastle Investment Corp		38,854
3,016	e*	NexCen Brands, Inc		14,597
5,372	e*	NorthStar Realty Finance Corp		47,918
929	e*	Novastar Financial, Inc		2,685
4,883		Omega Healthcare Investors, Inc		78,372
1,053		Parkway Properties, Inc		38,940
1,437		PennantPark Investment Corp		14,399
2,347		Pennsylvania Real Estate Investment Trust		69,659
13,740		Plum Creek Timber Co, Inc		632,590
3,291		Post Properties, Inc		115,580
3,023		Potlatch Corp		134,342
19,733		Prologis		1,250,678
1,446	e*	Prospect Capital Corp		18,870
1,279		PS Business Parks, Inc		67,211
9,334		Public Storage, Inc		685,209
1,164	e*	Quadra Realty Trust, Inc		9,359
4,896	e*	RAIT Investment Trust		42,204
1,853		Ramco-Gershenson Properties		39,599
7,952	e*	Realty Income Corp		214,863
2,587		Redwood Trust, Inc		88,579
5,566		Regency Centers Corp		358,951
2,220	e*	Resource Capital Corp		20,668
1,224		Saul Centers, Inc		65,398
5,913		Senior Housing Properties Trust		134,107
16,945		Simon Property Group, Inc		1,471,843
4,438		SL Green Realty Corp		414,775

119

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,893		Sovran Self Storage, Inc	$	75,909
6,370		Strategic Hotels & Resorts, Inc		106,570
1,120		Sun Communities, Inc		23,598
4,955		Sunstone Hotel Investors, Inc		90,627
2,345	e*	Tanger Factory Outlet Centers, Inc		88,430
2,560	e*	Tarragon Corp		3,840
4,105		Taubman Centers, Inc		201,925
9,675		Thornburg Mortgage, Inc		89,397
9,982		UDR, Inc		198,143
1,002	e*	Universal Health Realty Income Trust		35,511
1,403		Urstadt Biddle Properties, Inc (Class A)		21,747
3,138		U-Store-It Trust		28,744
9,979		Ventas, Inc		451,550
21,329	e*	Virgin Media, Inc		365,579
10,366		Vornado Realty Trust		911,690
4,225		WABCO Holdings, Inc		211,630
3,821	e*	Washington Real Estate Investment Trust		120,018
5,601	e*	Weingarten Realty Investors		176,095
2,500		Winthrop Realty Trust		13,225
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		31,567,086
HOTELS AND OTHER LODGING PLACES - 0.40%
1,830	e*	Ameristar Casinos, Inc		50,398
5,191	e*	Bluegreen Corp		37,323
4,639	e*	Boyd Gaming Corp		158,051
2,890	e*	Choice Hotels International, Inc		95,948
2,906	*	Gaylord Entertainment Co		117,606
3,859	e*	Great Wolf Resorts, Inc		37,857
2,506	*	Isle of Capri Casinos, Inc		34,508
7,976	e*	Las Vegas Sands Corp		821,927
1,580	e*	Lodgian, Inc		17,791
1,423		Marcus Corp		21,985
24,670		Marriott International, Inc (Class A)		843,221
9,069	e*	MGM Mirage		761,977
610	e*	Monarch Casino & Resort, Inc		14,689
2,408	*	Morgans Hotel Group Co		46,426
3,851	e*	Orient-Express Hotels Ltd (Class A)		221,510
1,237	*	Riviera Holdings Corp		38,100
16,152		Starwood Hotels & Resorts Worldwide, Inc		711,173
2,779	e*	Trump Entertainment Resorts, Inc		11,950
2,226	e*	Vail Resorts, Inc		119,781
13,259		Wyndham Worldwide Corp		312,382
4,187		Wynn Resorts Ltd		469,488
		TOTAL HOTELS AND OTHER LODGING PLACES		4,944,091
INDUSTRIAL MACHINERY AND EQUIPMENT - 7.09%
786		Aaon, Inc		15,579
4,348		Actuant Corp (Class A)		147,875
7,174	*	AGCO Corp		487,689
2,626		Albany International Corp (Class A)		97,425
3,096	*	Allis-Chalmers Energy, Inc		45,666
1,860	*	Altra Holdings, Inc		30,932
496		Ampco-Pittsburgh Corp		18,912
105,506		Applied Materials, Inc		1,873,787

120

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,755	*	Astec Industries, Inc	$	65,268
1,774	e*	ASV, Inc		24,570
6,675	*	Asyst Technologies, Inc		21,761
10,189	e*	Axcelis Technologies, Inc		46,869
5,270		Black & Decker Corp		367,056
1,195		Black Box Corp		43,223
3,167	*	Blount International, Inc		38,986
3,442	e*	Briggs & Stratton Corp		77,996
29,510	*	Brocade Communications Systems, Inc		216,603
5,560	*	Brooks Automation, Inc		73,448
2,667		Bucyrus International, Inc (Class A)		265,073
5,163		Carlisle Cos, Inc		191,186
1,107	e*	Cascade Corp		51,431
49,314		Caterpillar, Inc		3,578,224
6,306	*	Cirrus Logic, Inc		33,296
1,214	*	Columbus McKinnon Corp		39,601
6,439	*	Cray, Inc		38,570
7,886		Cummins, Inc		1,004,440
3,255		Curtiss-Wright Corp		163,401
2,621	e*	Cymer, Inc		102,036
34,612		Deere & Co		3,223,069
174,813	*	Dell, Inc		4,284,667
5,077		Diebold, Inc		147,131
6,024		Donaldson Co, Inc		279,393
15,435		Dover Corp		711,399
6,235	*	Dresser-Rand Group, Inc		243,477
1,925	*	Dril-Quip, Inc		107,146
5,230	*	Electronics for Imaging, Inc		117,570
161,633	*	EMC Corp		2,995,059
6,226	*	Emulex Corp		101,608
2,000	*	ENGlobal Corp		22,720
1,365	*	EnPro Industries, Inc		41,837
9,368	*	Entegris, Inc		80,846
7,219	*	Extreme Networks, Inc		25,555
1,416	e*	Flotek Industries, Inc		51,033
2,741	*	Flow International Corp		25,546
4,610		Flowserve Corp		443,482
10,192	*	FMC Technologies, Inc		577,886
1,264	e*	Fuel Tech, Inc		28,630
4,098	*	Gardner Denver, Inc		135,234
647	e*	Gehl Co		10,378
792,716	d	General Electric Co		29,385,982
2,719	e*	Goodman Global, Inc		66,724
738	e*	Gorman-Rupp Co		23,026
5,188		Graco, Inc		193,305
10,014	*	Grant Prideco, Inc		555,877
800		Hardinge, Inc		13,424
206,164		Hewlett-Packard Co		10,407,159
397	*	Hurco Cos, Inc		17,329
5,713		IDEX Corp		206,411
4,169	*	Immersion Corp		53,989
20,912		Ingersoll-Rand Co Ltd (Class A)		971,781
4,409	*	Intermec, Inc		89,547
105,410		International Business Machines Corp		11,394,821

121

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
25,059		International Game Technology	$	1,100,842
2,352	*	Intevac, Inc		34,198
3,240	e*	Isilon Systems, Inc		16,459
14,281		Jabil Circuit, Inc		218,071
8,412		Joy Global, Inc		553,678
921	*	Kadant, Inc		27,326
1,994	e*	Kaydon Corp		108,753
5,686		Kennametal, Inc		215,272
4,096	*	Kulicke & Soffa Industries, Inc		28,099
9,823	*	Lam Research Corp		424,648
4,105		Lennox International, Inc		170,029
6,886	*	Lexmark International, Inc (Class A)		240,046
832	e*	Lindsay Manufacturing Co		58,814
1,012		Lufkin Industries, Inc		57,977
9,882		Manitowoc Co, Inc		482,538
3,235	*	Micros Systems, Inc		226,968
1,266	e*	Middleby Corp		97,001
2,202	e*	Modine Manufacturing Co		36,355
407		Nacco Industries, Inc (Class A)		40,574
1,277	*	NATCO Group, Inc (Class A)		69,150
2,509	*	Netgear, Inc		89,496
2,745		Nordson Corp		159,100
3,756	*	Oil States International, Inc		128,155
9,195		Pall Corp		370,742
7,886	e*	Palm, Inc		49,997
11,592	*	Quantum Corp		31,182
2,563	e*	Rackable Systems, Inc		25,630
2,125	*	RBC Bearings, Inc		92,353
749	*	Rimage Corp		19,437
1,427	*	Riverbed Technology, Inc		38,158
1,027		Robbins & Myers, Inc		77,672
11,896		Rockwell Automation, Inc		820,348
8,149	e*	Safeguard Scientifics, Inc		14,668
17,151	*	SanDisk Corp		568,899
801	e*	Sauer-Danfoss, Inc		20,065
1,906	e*	Scansource, Inc		61,659
4,426	e*	Scientific Games Corp (Class A)		147,165
42,435		Seagate Technology, Inc		1,082,093
2,131	m,v*	Seagate Technology, Inc		(0)
861	e*	Semitool, Inc		7,473
2,487	e*	Sigma Designs, Inc		137,282
487	e*	Silicon Graphics, Inc		8,902
9,117	e*	SourceForge, Inc		22,337
4,139		SPX Corp		425,696
908		Standex International Corp		15,845
2,311	e*	STEC, Inc		20,198
405	*	T-3 Energy Services, Inc		19,039
1,238	*	Tecumseh Products Co (Class A)		28,982
1,122		Tennant Co		49,693
13,669	*	Teradata Corp		374,667
8,096	*	Terex Corp		530,855
7,471		Timken Co		245,422
3,451	e*	Toro Co		187,872
13,507		Trane, Inc		630,912

122

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,559	e*	TurboChef Technologies, Inc	$	58,724
334		Twin Disc, Inc		23,637
1,844	e*	Ultratech, Inc		20,911
9,998	*	Varian Medical Systems, Inc		521,496
4,504	e*	VeriFone Holdings, Inc		104,718
1,876	e*	Watsco, Inc		68,962
17,345	*	Western Digital Corp		523,992
2,409		Woodward Governor Co		163,692
5,840	*	Zebra Technologies Corp (Class A)		202,648
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		88,591,516
INSTRUMENTS AND RELATED PRODUCTS - 4.68%
1,448	*	Abaxis, Inc		51,925
1,257	e*	Abiomed, Inc		19,534
1,460	e*	Accuray, Inc		22,221
4,345	*	Advanced Medical Optics, Inc		106,583
4,623	*	Affymetrix, Inc		106,976
31,058	*	Agilent Technologies, Inc		1,141,071
5,548	*	Align Technology, Inc		92,541
23,574		Allergan, Inc		1,514,394
5,289	e*	American Medical Systems Holdings, Inc		76,479
531		American Science & Engineering, Inc		30,134
1,240		Analogic Corp		83,973
1,598	*	Anaren, Inc		26,351
2,859	*	Angiodynamics, Inc		54,435
12,905		Applera Corp (Applied Biosystems Group)		437,738
929	*	Argon ST, Inc		17,242
1,986	e*	Arthrocare Corp		95,427
1,064	e*	Aspect Medical Systems, Inc		14,896
710	e*	Badger Meter, Inc		31,915
7,906		Bard (C.R.), Inc		749,489
50,183		Baxter International, Inc		2,913,123
4,916		Beckman Coulter, Inc		357,885
18,904		Becton Dickinson & Co		1,579,996
1,659	*	Bio-Rad Laboratories, Inc (Class A)		171,906
102,399	*	Boston Scientific Corp		1,190,900
4,735	*	Bruker BioSciences Corp		62,976
845	e*	Cantel Medical Corp		12,320
6,208	e*	Cepheid, Inc		163,581
1,401	e*	Cohu, Inc		21,435
2,009	*	Conmed Corp		46,428
3,217		Cooper Cos, Inc		122,246
38,153		Covidien Ltd		1,689,796
11,551	*	Credence Systems Corp		27,953
985	*	Cutera, Inc		15,465
1,364	e*	Cyberonics, Inc		17,950
565	e*	Cynosure, Inc (Class A)		14,950
18,939		Danaher Corp		1,661,708
993		Datascope Corp		36,145
12,021		Dentsply International, Inc		541,185
1,435	e*	Dionex Corp		118,904
3,541		DRS Technologies, Inc		192,170
890	*	Eagle Test Systems, Inc		11,374
22,118	e*	Eastman Kodak Co		483,721

123

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
60,837		Emerson Electric Co	$	3,447,024
1,677	e*	ESCO Technologies, Inc		66,979
2,236	*	Esterline Technologies Corp		115,713
2,977	*	ev3, Inc		37,838
900	*	Excel Technology, Inc		24,390
1,082	e*	FARO Technologies, Inc		29,409
2,562	e*	FEI Co		63,614
10,426	e*	Flir Systems, Inc		326,334
3,441	*	Formfactor, Inc		113,897
3,552	*	Fossil, Inc		149,113
8,714	e*	Garmin Ltd		845,258
2,669	*	Haemonetics Corp		168,200
9,404	*	Hologic, Inc		645,491
803	e*	ICU Medical, Inc		28,916
1,409	*	I-Flow Corp		22,234
1,718	*	II-VI, Inc		52,485
4,350	e*	Illumina, Inc		257,781
1,167	e*	Integra LifeSciences Holdings Corp		48,932
2,861	*	Intuitive Surgical, Inc		928,395
1,833	e*	Invacare Corp		46,192
5,000	*	ION Geophysical Corp		78,900
2,816	e*	Ionatron, Inc		8,054
2,184	e*	Itron, Inc		209,598
2,349	*	Ixia		22,269
223,350		Johnson & Johnson		14,897,445
730	*	Kensey Nash Corp		21,842
14,622		Kla-Tencor Corp		704,196
4,294	e*	L-1 Identity Solutions, Inc		77,077
17,367	e*	LTX Corp		55,227
900	e*	Masimo Corp		35,505
708	e*	Measurement Specialties, Inc		15,647
911	*	Medical Action Industries, Inc		18,994
88,418		Medtronic, Inc		4,444,773
3,404	e*	Mentor Corp		133,096
1,974	*	Merit Medical Systems, Inc		27,439
2,916	*	Mettler-Toledo International, Inc		331,841
1,111	e*	Micrus Endovascular Corp		21,864
4,373	e*	Millipore Corp		320,016
2,677	e*	Mine Safety Appliances Co		138,856
3,655	*	MKS Instruments, Inc		69,957
1,160		Movado Group, Inc		29,336
1,493		MTS Systems Corp		63,706
4,144		National Instruments Corp		138,120
1,239	e*	Natus Medical, Inc		23,975
3,159	e*	Newport Corp		40,404
1,400	e*	Northstar Neuroscience, Inc		13,020
2,232	*	NuVasive, Inc		88,209
1,473	e*	NxStage Medical, Inc		22,345
1,201	*	Orthofix International NV		69,622
258	*	OYO Geospace Corp		19,443
1,095	e*	Palomar Medical Technologies, Inc		16,775
9,063		PerkinElmer, Inc		235,819
17,512		Pitney Bowes, Inc		666,156
6,206	e*	Resmed, Inc		326,001

124

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
5,652	*	Respironics, Inc	$	370,093
13,022		Rockwell Collins, Inc		937,193
2,774	*	Rofin-Sinar Technologies, Inc		133,457
6,901		Roper Industries, Inc		431,589
1,888	*	Rudolph Technologies, Inc		21,372
4,174	e*	Sirf Technology Holdings, Inc		104,893
1,128	e*	Sirona Dental Systems, Inc		37,765
1,949	*	Sonic Innovations, Inc		15,046
1,326	e*	Sonic Solutions, Inc		13,777
1,231	*	SonoSite, Inc		41,448
2,046	e*	Spectranetics Corp		31,365
26,281	*	St. Jude Medical, Inc		1,068,060
5,379		STERIS Corp		155,130
23,367		Stryker Corp		1,745,982
2,328	*	Symmetry Medical, Inc		40,577
3,374	*	Techne Corp		222,853
2,554	*	Teledyne Technologies, Inc		136,205
13,384	*	Teradyne, Inc		138,391
32,376	*	Thermo Electron Corp		1,867,448
3,898	*	Thoratec Corp		70,905
9,094	e*	Trimble Navigation Ltd		275,003
2,586	*	Varian, Inc		168,866
1,843	e*	Veeco Instruments, Inc		30,778
2,151	*	Ventana Medical Systems, Inc		187,632
1,742	e*	Vital Images, Inc		31,478
832		Vital Signs, Inc		42,532
4,143	*	Vivus, Inc		21,461
1,746	*	Volcano Corp		21,842
7,952	*	Waters Corp		628,765
2,172	e*	Wright Medical Group, Inc		63,357
72,154		Xerox Corp		1,168,173
1,511	*	X-Rite, Inc		17,558
18,265	*	Zimmer Holdings, Inc		1,208,230
1,434	*	Zoll Medical Corp		38,316
1,229	*	Zygo Corp		15,313
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		58,434,016
INSURANCE AGENTS, BROKERS AND SERVICE - 0.43%
22,975		AON Corp		1,095,678
8,720		Brown & Brown, Inc		204,920
1,201	e*	Crawford & Co (Class B)		4,984
7,414	e*	Gallagher (Arthur J.) & Co		179,345
24,281		Hartford Financial Services Group, Inc		2,117,060
2,857		Hilb Rogal & Hobbs Co		115,908
41,672		Marsh & McLennan Cos, Inc		1,103,058
2,733	e*	National Financial Partners Corp		124,652
1,801	*	United America Indemnity Ltd (Class A)		35,876
721		White Mountains Insurance Group Ltd		370,630
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		5,352,111
INSURANCE CARRIERS - 4.59%
25,386	e*	ACE Ltd		1,568,347
39,208		Aetna, Inc		2,263,478
37,501		Aflac, Inc		2,348,688

125

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,413		Alfa Corp	$	52,290
441	*	Alleghany Corp		177,282
5,215		Allied World Assurance Holdings Ltd		261,637
43,615		Allstate Corp		2,278,011
8,033	e*	Ambac Financial Group, Inc		207,010
3,771		American Equity Investment Life Holding Co		31,262
5,978		American Financial Group, Inc		172,645
172,274		American International Group, Inc		10,043,574
1,393		American National Insurance Co		168,887
1,012		American Physicians Capital, Inc		41,958
3,835	*	AMERIGROUP Corp		139,786
1,343	*	Amerisafe, Inc		20,830
1,831	e*	Amtrust Financial Services, Inc		25,213
4,136	*	Arch Capital Group Ltd		290,968
2,387	*	Argo Group International Holdings Ltd		100,564
6,388		Aspen Insurance Holdings Ltd		184,230
9,572		Assurant, Inc		640,367
4,931		Assured Guaranty Ltd		130,869
12,255		Axis Capital Holdings Ltd		477,577
711		Baldwin & Lyons, Inc (Class B)		19,524
3,736	*	Centene Corp		102,516
30,976		Chubb Corp		1,690,670
13,764		Cincinnati Financial Corp		544,229
2,569	e*	Citizens, Inc		14,207
1,739		CNA Financial Corp		58,639
1,063	*	CNA Surety Corp		21,037
3,890	e*	Commerce Group, Inc		139,962
13,444	*	Conseco, Inc		168,857
539	*	Darwin Professional Underwriters, Inc		13,028
3,312		Delphi Financial Group, Inc (Class A)		116,847
419		Donegal Group, Inc (Class A)		7,194
178		EMC Insurance Group, Inc		4,213
4,260		Employers Holdings, Inc		71,185
5,267		Endurance Specialty Holdings Ltd		219,792
506	e*	Enstar Group Ltd		61,945
3,673	e*	Erie Indemnity Co (Class A)		190,592
4,891		Everest Re Group Ltd		491,056
1,117		FBL Financial Group, Inc (Class A)		38,570
15,770		Fidelity National Title Group, Inc (Class A)		230,400
1,688	*	First Acceptance Corp		7,123
7,218	e*	First American Corp		246,278
906	*	First Mercury Financial Corp		22,106
1,033		Flagstone Reinsurance Holdings Ltd		14,359
665	*	Fpic Insurance Group, Inc		28,582
32,705		Genworth Financial, Inc (Class A)		832,342
642	e*	Greenlight Capital Re Ltd (Class A)		13,347
3,730		Hanover Insurance Group, Inc		170,834
1,021		Harleysville Group, Inc		36,123
9,561		HCC Insurance Holdings, Inc		274,209
8,153	*	Health Net, Inc		393,790
2,904	*	HealthExtras, Inc		75,736
3,465	*	Healthspring, Inc		66,008
2,772		Horace Mann Educators Corp		52,502
12,904	*	Humana, Inc		971,800

126

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
477	e*	Independence Holding Co	$	6,034
1,955		Infinity Property & Casualty Corp		70,634
4,642		IPC Holdings Ltd		134,015
246		Kansas City Life Insurance Co		10,723
1,241	e*	LandAmerica Financial Group, Inc		41,511
12,740		Leucadia National Corp		600,054
20,870		Lincoln National Corp		1,215,051
33,500		Loews Corp		1,686,390
804	*	Markel Corp		394,844
4,401		Max Re Capital Ltd		123,184
10,168	e*	MBIA, Inc		189,430
1,740	*	Meadowbrook Insurance Group, Inc		16,373
2,119		Mercury General Corp		105,547
36,101		Metlife, Inc		2,224,544
5,996	e*	MGIC Investment Corp		134,490
655		Midland Co		42,372
1,647	*	Molina Healthcare, Inc		63,739
8,145		Montpelier Re Holdings Ltd		138,546
1,070	e*	National Interstate Corp		35,417
147		National Western Life Insurance Co (Class A)		30,483
3,844		Nationwide Financial Services, Inc (Class A)		173,018
840	*	Navigators Group, Inc		54,600
393	e*	NYMAGIC, Inc		9,090
1,911		Odyssey Re Holdings Corp		70,153
18,927	e*	Old Republic International Corp		291,665
2,079		OneBeacon Insurance Group Ltd		44,699
4,562		PartnerRe Ltd		376,502
4,191	*	Philadelphia Consolidated Holding Co		164,916
8,285		Phoenix Cos, Inc		98,343
4,348		Platinum Underwriters Holdings Ltd		154,615
2,758	*	PMA Capital Corp (Class A)		22,671
6,414	e*	PMI Group, Inc		85,178
1,376		Presidential Life Corp		24,094
3,319	e*	Primus Guaranty Ltd		23,266
20,800		Principal Financial Group		1,431,872
2,295	*	ProAssurance Corp		126,041
55,262	*	Progressive Corp		1,058,820
5,164		Protective Life Corp		211,827
35,728		Prudential Financial, Inc		3,324,133
5,978	e*	Radian Group, Inc		69,823
1,314	e*	RAM Holdings Ltd		6,491
2,042		Reinsurance Group Of America, Inc		107,164
5,779		RenaissanceRe Holdings Ltd		348,127
1,621	e*	RLI Corp		92,057
8,227		Safeco Corp		458,079
876		Safety Insurance Group, Inc		32,079
4,855	v*	Scottish Re Group Ltd		3,496
1,144	*	SeaBright Insurance Holdings, Inc		17,252
1,745	e*	Security Capital Assurance Ltd		6,788
4,248		Selective Insurance Group, Inc		97,662
4,232		Stancorp Financial Group, Inc		213,208
2,075		State Auto Financial Corp		54,573
1,175	e*	Stewart Information Services Corp		30,656
7,429		Torchmark Corp		449,677

127

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,072		Tower Group, Inc	$	35,805
2,017		Transatlantic Holdings, Inc		146,575
50,737		Travelers Cos, Inc		2,729,651
737	e*	Triad Guaranty, Inc		7,223
1,260		United Fire & Casualty Co		36,653
103,147		UnitedHealth Group, Inc		6,003,155
3,532		Unitrin, Inc		169,501
3,755	e*	Universal American Financial Corp		96,090
27,599		UnumProvident Corp		656,580
1,000	*	Validus Holdings Ltd		25,980
12,543		W.R. Berkley Corp		373,907
3,146	e*	WellCare Health Plans, Inc		133,422
117		Wesco Financial Corp		47,619
13,977		XL Capital Ltd (Class A)		703,183
3,038		Zenith National Insurance Corp		135,890
		TOTAL INSURANCE CARRIERS		57,332,325
JUSTICE, PUBLIC ORDER AND SAFETY - 0.03%
8,912	*	Corrections Corp of America		262,993
3,930	*	Geo Group, Inc		110,040
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		373,033
LEATHER AND LEATHER PRODUCTS - 0.11%
27,833	*	Coach, Inc		851,133
6,309	e*	CROCS, Inc		232,234
1,742	e*	Genesco, Inc		65,848
3,936	*	Iconix Brand Group, Inc		77,382
1,492		Steven Madden Ltd		29,840
3,526	*	Timberland Co (Class A)		63,750
334	e*	Weyco Group, Inc		9,185
4,349		Wolverine World Wide, Inc		106,637
		TOTAL LEATHER AND LEATHER PRODUCTS		1,436,009
LEGAL SERVICES - 0.02%
3,361	*	FTI Consulting, Inc		207,172
651	e*	Pre-Paid Legal Services, Inc		36,033
		TOTAL LEGAL SERVICES		243,205
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.00% **
670	e*	Emergency Medical Services Corp (Class A)		19,618
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		19,618
LUMBER AND WOOD PRODUCTS - 0.02%
640	e*	American Woodmark Corp		11,635
6,272	*	Champion Enterprises, Inc		59,082
793	e*	Deltic Timber Corp		40,832
6,940	e*	Louisiana-Pacific Corp		94,939
508	e*	Skyline Corp		14,910
1,139		Universal Forest Products, Inc		33,555
		TOTAL LUMBER AND WOOD PRODUCTS		254,953
METAL MINING - 0.51%
4,258	*	Apex Silver Mines Ltd		64,892
3,329	e*	Cleveland-Cliffs, Inc		335,563

128

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
21,244	e*	Coeur d'Alene Mines Corp	$	104,945
3,072		Foundation Coal Holdings, Inc		161,280
29,384		Freeport-McMoRan Copper & Gold, Inc (Class B)		3,010,097
10,241	e*	Hecla Mining Co		95,753
32,810		Newmont Mining Corp		1,602,112
2,001	*	Patriot Coal Corp		83,522
3,490	*	Rosetta Resources, Inc		69,207
2,555	e*	Royal Gold, Inc		77,979
3,890	e*	ShengdaTech, Inc		56,211
5,502	e*	Southern Copper Corp		578,425
3,801	e*	Stillwater Mining Co		36,718
4,918	e*	Uranium Resources, Inc		61,377
3,428	*	US Gold Corp		10,147
		TOTAL METAL MINING		6,348,228
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.30%
1,767	*	Armstrong World Industries, Inc		70,874
1,955		Blyth, Inc		42,893
4,917		Callaway Golf Co		85,703
3,000	e*	Daktronics, Inc		67,710
11,981		Fortune Brands, Inc		866,945
11,587		Hasbro, Inc		296,395
2,532	e*	Jakks Pacific, Inc		59,781
396	e*	Marine Products Corp		2,776
29,869		Mattel, Inc		568,706
1,989	e*	Nautilus, Inc		9,647
1,490	*	RC2 Corp		41,824
634	e*	Russ Berrie & Co, Inc		10,372
3,210	*	Shuffle Master, Inc		38,488
569		Steinway Musical Instruments, Inc		15,687
38,133		Tyco International Ltd		1,511,973
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		3,689,774
MISCELLANEOUS RETAIL - 1.29%
2,238	e*	1-800-FLOWERS.COM, Inc (Class A)		19,538
973	*	AC Moore Arts & Crafts, Inc		13,379
23,319	*	Amazon.com, Inc		2,160,272
3,469		Barnes & Noble, Inc		119,507
26,585		Best Buy Co, Inc		1,399,700
1,344	e*	Big 5 Sporting Goods Corp		19,380
1,266	e*	Blue Nile, Inc		86,164
963	e*	Books-A-Million, Inc		11,479
4,275	e*	Borders Group, Inc		45,529
918	e*	Build-A-Bear Workshop, Inc		12,806
2,005		Cash America International, Inc		64,762
3,455	e*	CKX, Inc		41,460
4,691	e*	Coldwater Creek, Inc		31,383
113,625		CVS Corp		4,516,594
6,440	e*	Dick's Sporting Goods, Inc		178,774
7,089	*	Dollar Tree Stores, Inc		183,747
2,427	*	Ezcorp, Inc (Class A)		27,401
2,096	*	GSI Commerce, Inc		40,872
2,889	e*	Hibbett Sports, Inc		57,722
2,385		Longs Drug Stores Corp		112,095

129

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,771		MSC Industrial Direct Co (Class A)	$	152,612
2,490	e*	Nutri/System, Inc		67,180
21,258	*	Office Depot, Inc		295,699
5,442	e*	OfficeMax, Inc		112,432
2,357	e*	Overstock.com, Inc		36,604
9,871		Petsmart, Inc		232,265
3,018	e*	Priceline.com, Inc		346,647
963		Pricesmart, Inc		28,948
55,089	e*	Rite Aid Corp		153,698
6,099	e*	Sears Holdings Corp		622,403
1,063	*	Shutterfly, Inc		27,234
1,216	e*	Stamps.com, Inc		14,811
55,396		Staples, Inc		1,277,986
1,129	e*	Systemax, Inc		22,941
10,661		Tiffany & Co		490,726
1,657	e*	Valuevision International, Inc (Class A)		10,423
76,996		Walgreen Co		2,932,008
2,077	e*	World Fuel Services Corp		60,295
3,965	e*	Zale Corp		63,678
1,933	e*	Zumiez, Inc		47,088
		TOTAL MISCELLANEOUS RETAIL		16,138,242
MOTION PICTURES - 1.05%
3,122	*	Avid Technology, Inc		88,477
15,402	e*	Blockbuster, Inc (Class A)		60,068
633	e*	Carmike Cinemas, Inc		4,596
45,966		CBS Corp (Class B)		1,252,574
2,032	e*	Cinemark Holdings, Inc		34,544
20,487	*	Discovery Holding Co (Class A)		515,043
4,801	*	DreamWorks Animation SKG, Inc (Class A)		122,618
1,062	*	Gaiam, Inc (Class A)		31,520
3,874	*	Macrovision Corp		71,010
3,000		National CineMedia, Inc		75,630
175,717		News Corp (Class A)		3,600,441
6,662	e*	Regal Entertainment Group (Class A)		120,382
11,027	e*	Time Warner Telecom, Inc (Class A)		223,738
290,310		Time Warner, Inc		4,793,018
46,850	*	Viacom, Inc (Class B)		2,057,652
		TOTAL MOTION PICTURES		13,051,311
MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS - 0.00% **
4,031	e*	Premier Exhibitions, Inc		44,099
		TOTAL MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS		44,099
NONDEPOSITORY INSTITUTIONS - 1.25%
4,721		Advance America Cash Advance Centers, Inc		47,965
2,678		Advanta Corp (Class B)		21,611
5,840	e*	Aldabra 2 Acquisition Corp		56,882
5,980	e*	Alternative Asset Management Acquisition Corp		54,717
14,873	e*	American Capital Strategies Ltd		490,214
79,791		American Express Co		4,150,728
8,492	e*	AmeriCredit Corp		108,613
6,437	e*	Ares Capital Corp		94,173
768	e*	Asta Funding, Inc		20,306

130

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
30,000		Capital One Financial Corp	$	1,417,800
11,168		CapitalSource, Inc		196,445
3,539	e*	Centerline Holding Co		26,967
2,500		Chimera Investment Corp		44,700
14,923		CIT Group, Inc		358,600
1,560	e*	CompuCredit Corp		15,569
45,573		Countrywide Financial Corp		407,423
639	e*	Credit Acceptance Corp		13,208
35,866		Discover Financial Services		540,859
1,148	*	Encore Capital Group, Inc		11,113
1,662	e*	Energy Infrastructure Acquisition Corp		16,853
75,131		Fannie Mae		3,003,737
556	e*	Federal Agricultural Mortgage Corp (Class C)		14,634
1,638	e*	Financial Federal Corp		36,511
1,940	*	First Cash Financial Services, Inc		28,479
4,281	e*	First Marblehead Corp		65,499
50,478		Freddie Mac		1,719,785
3,730	*	GLG Partners Inc		50,728
2,565	*	Guaranty Financial Group, Inc		41,051
1,694	e*	Hercules Technology Growth Capital, Inc		21,039
2,303	e*	Information Services Group, Inc		15,776
5,000	e*	INVESTools, Inc		88,700
1,200		Kohlberg Capital Corp		14,400
2,739	e*	Marathon Acquisition Corp		21,309
3,841		MCG Capital Corp		44,517
1,000	*	Mercadolibre, Inc		73,880
1,264	e*	Nelnet, Inc (Class A)		16,065
965	e*	NewStar Financial, Inc		7,990
1,077	e*	NGP Capital Resources Co		16,834
2,100	*	NRDC Acquisition Corp		19,257
1,850	e*	NTR Acquisition Co		17,575
2,663	e*	Ocwen Financial Corp		14,753
1,325	e*	Patriot Capital Funding, Inc		13,369
3,898	*	PHH Corp		68,761
31,739	e*	SLM Corp		639,223
293	e*	Student Loan Corp		32,230
18,704		Textron, Inc		1,333,595
1,553	e*	TICC Capital Corp		14,334
3,600	e*	Triplecrown Acquisition Corp		32,904
1,438	e*	World Acceptance Corp		38,797
		TOTAL NONDEPOSITORY INSTITUTIONS		15,600,478
NONMETALLIC MINERALS, EXCEPT FUELS - 0.07%
2,631	e*	AMCOL International Corp		94,795
2,169		Compass Minerals International, Inc		88,929
8,275	e*	General Moly Inc		96,569
7,840	e*	Vulcan Materials Co		620,066
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		900,359
OIL AND GAS EXTRACTION - 3.52%
35,601		Anadarko Petroleum Corp		2,338,630
676	e*	APCO Argentina, Inc		18,604
2,784	*	Arena Resources, Inc		116,121
1,983		Atlas America, Inc		117,354

131

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,404	*	ATP Oil & Gas Corp	$	70,958
2,134	*	Atwood Oceanics, Inc		213,912
24,882		Baker Hughes, Inc		2,017,930
2,980	e*	Basic Energy Services, Inc		65,411
2,821		Berry Petroleum Co (Class A)		125,393
1,923	*	Bill Barrett Corp		80,516
22,874		BJ Services Co		554,923
908	*	Bois d'Arc Energy, Inc		18,024
2,504	*	Brigham Exploration Co		18,830
1,640	e*	Bronco Drilling Co, Inc		24,354
3,928	*	Cal Dive International, Inc		52,007
1,403	*	Callon Petroleum Co		23,079
16,786	*	Cameron International Corp		807,910
1,637	*	Carrizo Oil & Gas, Inc		89,626
3,680	e*	Cheniere Energy, Inc		120,115
35,452	e*	Chesapeake Energy Corp		1,389,718
6,300		Cimarex Energy Co		267,939
312	*	Clayton Williams Energy, Inc		9,722
1,874	*	CNX Gas Corp		59,874
2,861	e*	Complete Production Services, Inc		51,412
3,003	*	Comstock Resources, Inc		102,102
1,500	*	Concho Resources, Inc		30,915
964	*	Contango Oil & Gas Co		49,058
1,989	*	Continental Resources, Inc		51,973
616	e*	Dawson Geophysical Co		44,019
5,147	e*	Delta Petroleum Corp		97,021
18,200	*	Denbury Resources, Inc		541,450
5,113	e*	Diamond Offshore Drilling, Inc		726,046
3,861	*	Edge Petroleum Corp		22,896
3,566	*	Encore Acquisition Co		118,997
2,414	*	Energy Partners Ltd		28,509
11,569		ENSCO International, Inc		689,744
9,172		Equitable Resources, Inc		488,684
4,313	e*	EXCO Resources, Inc		66,765
4,490	*	Exterran Holdings, Inc		367,282
5,991	*	Forest Oil Corp		304,582
2,564	*	FX Energy, Inc		14,564
5,057	e*	GeoGlobal Resources, Inc		25,032
504	*	Geokinetics, Inc		9,803
7,921	*	Global Industries Ltd		169,668
1,138	e*	GMX Resources, Inc		36,735
1,299	e*	Goodrich Petroleum Corp		29,383
13,526	*	Grey Wolf, Inc		72,094
1,426	*	Gulfport Energy Corp		26,039
70,513		Halliburton Co		2,673,148
3,621	e*	Harvest Natural Resources, Inc		45,263
6,635	e*	Helix Energy Solutions Group, Inc		275,353
8,374		Helmerich & Payne, Inc		335,546
6,388	*	Hercules Offshore, Inc		151,907
710		Kayne Anderson Energy Development Co		16,266
6,401	*	Mariner Energy, Inc		146,455
3,931	e*	McMoRan Exploration Co		51,457
9,213	*	Meridian Resource Corp		16,676
22,288	e*	Nabors Industries Ltd		610,468

132

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
27,198	*	National Oilwell Varco, Inc	$	1,997,965
4,959	*	Newpark Resources, Inc		27,027
20,600		Noble Corp		1,164,106
3,977	*	Oceaneering International, Inc		267,851
14,732	*	Oilsands Quest, Inc		60,107
2,451	*	Parallel Petroleum Corp		43,211
8,740	e*	Parker Drilling Co		65,987
11,849		Patterson-UTI Energy, Inc		231,292
2,734		Penn Virginia Corp		119,284
416	m,v*	PetroCorp		(0)
12,310	*	PetroHawk Energy Corp		213,086
1,132	e*	Petroleum Development Corp		66,935
3,247	*	Petroquest Energy, Inc		46,432
4,643	*	Pioneer Drilling Co		55,159
9,107		Pioneer Natural Resources Co		444,786
9,332	*	Plains Exploration & Production Co		503,928
12,559	*	Pride International, Inc		425,750
3,651	*	Quicksilver Resources, Inc		217,563
10,984		Range Resources Corp		564,138
8,532		Rowan Cos, Inc		336,673
2,562	e*	RPC, Inc		30,001
91,004		Schlumberger Ltd		8,952,063
2,107	e*	SEACOR Holdings, Inc		195,403
15,094		Smith International, Inc		1,114,692
13,058	*	Southwestern Energy Co		727,592
4,851		St. Mary Land & Exploration Co		187,297
1,777	*	Stone Energy Corp		83,359
8,618	e*	Sulphco, Inc		44,986
5,918	*	Superior Energy Services		203,698
731	e*	Superior Offshore International, Inc		3,670
728	e*	Superior Well Services, Inc		15,448
2,664	*	Swift Energy Co		117,296
6,751	e*	Tetra Technologies, Inc		105,113
4,184	e*	Tidewater, Inc		229,534
1,946	e*	Toreador Resources Corp		13,603
23,761		Transocean, Inc		3,401,387
789	e*	Trico Marine Services, Inc		29,209
3,774	e*	TXCO Resources, Inc		45,514
1,041	*	Union Drilling, Inc		16,417
3,946	*	Unit Corp		182,503
3,845	e*	Vaalco Energy, Inc		17,879
908	*	Venoco, Inc		18,096
1,968	e*	W&T Offshore, Inc		58,961
5,521	e*	Warren Resources, Inc		78,012
25,827	*	Weatherford International Ltd		1,771,732
2,390	*	W-H Energy Services, Inc		134,342
3,284	*	Whiting Petroleum Corp		189,355
2,845	*	Willbros Group, Inc		108,935
36,857		XTO Energy, Inc		1,892,976
		TOTAL OIL AND GAS EXTRACTION		43,908,615
PAPER AND ALLIED PRODUCTS - 0.46%
5,337	e*	AbitibiBowater, Inc		109,996
8,629		Bemis Co		236,262

133

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,336	*	Buckeye Technologies, Inc	$	29,200
3,976	e*	Cenveo, Inc		69,461
1,323	*	Chesapeake Corp		6,866
36,839	*	Domtar Corporation		283,292
3,112		Glatfelter		47,645
5,429	e*	Graphic Packaging Corp		20,033
2,411		Greif, Inc (Class A)		157,607
32,841		International Paper Co		1,063,392
32,723		Kimberly-Clark Corp		2,269,013
13,458		MeadWestvaco Corp		421,235
5,591	*	Mercer International, Inc		43,778
1,091		Neenah Paper, Inc		31,803
7,368		Packaging Corp of America		207,778
3,548		Rock-Tenn Co (Class A)		90,155
1,100		Schweitzer-Mauduit International, Inc		28,501
18,559	*	Smurfit-Stone Container Corp		195,983
7,272		Sonoco Products Co		237,649
7,697		Temple-Inland, Inc		160,482
3,238	e*	Wausau Paper Corp		29,110
		TOTAL PAPER AND ALLIED PRODUCTS		5,739,241
PERSONAL SERVICES - 0.14%
10,956		Cintas Corp		368,341
1,726	*	Coinstar, Inc		48,587
376	e*	CPI Corp		8,855
2,089		G & K Services, Inc (Class A)		78,379
24,992		H&R Block, Inc		464,101
2,460	e*	Jackson Hewitt Tax Service, Inc		78,105
3,440		Regis Corp		96,182
5,487	e*	Sally Beauty Holdings, Inc		49,657
21,386		Service Corp International		300,473
1,231	*	Steiner Leisure Ltd		54,361
1,120		Unifirst Corp		42,560
3,142	e*	Weight Watchers International, Inc		141,956
		TOTAL PERSONAL SERVICES		1,731,557
PETROLEUM AND COAL PRODUCTS - 7.49%
1,047	e*	Alon USA Energy, Inc		28,457
25,356		Apache Corp		2,726,784
4,084		Ashland, Inc		193,704
7,178		Cabot Oil & Gas Corp		289,776
165,869		Chevron Corp		15,480,554
126,125		ConocoPhillips		11,136,838
1,500	*	CVR Energy Inc		37,410
440		Delek US Holdings, Inc		8,901
34,380		Devon Energy Corp		3,056,726
18,879		EOG Resources, Inc		1,684,951
434,414		Exxon Mobil Corp		40,700,248
8,001		Frontier Oil Corp		324,681
3,218	e*	Headwaters, Inc		37,779
21,441		Hess Corp		2,162,539
3,201		Holly Corp		162,899
55,376		Marathon Oil Corp		3,370,183
14,185		Murphy Oil Corp		1,203,455

134

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
10,157	*	Newfield Exploration Co	$	535,274
12,925		Noble Energy, Inc		1,027,796
11,500	e*	Nova Biosource Fuels, Inc		33,350
64,351		Occidental Petroleum Corp		4,954,383
2,100	*	SandRidge Energy, Inc		75,306
9,360		Sunoco, Inc		678,038
10,753		Tesoro Corp		512,918
42,330		Valero Energy Corp		2,964,370
1,308		WD-40 Co		49,665
1,978	e*	Western Refining, Inc		47,887
		TOTAL PETROLEUM AND COAL PRODUCTS		93,484,872
PIPELINES, EXCEPT NATURAL GAS - 0.10%
48,629		Spectra Energy Corp		1,255,601
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,255,601
PRIMARY METAL INDUSTRIES - 1.07%
9,338	*	AK Steel Holding Corp		431,789
66,425		Alcoa, Inc		2,427,834
7,826		Allegheny Technologies, Inc		676,166
3,056	e*	Belden CDT, Inc		135,992
1,752	*	Brush Engineered Materials, Inc		64,859
3,808		Carpenter Technology Corp		286,247
2,429	e*	Century Aluminum Co		131,020
625	*	Claymont Steel, Inc		14,594
637	e*	Coleman Cable, Inc		6,020
4,847	*	CommScope, Inc		238,544
119,978		Corning, Inc		2,878,272
1,929	e*	Encore Wire Corp		30,710
33	e*	Esmark, Inc		466
3,795	e*	General Cable Corp		278,098
1,509	e*	Gibraltar Industries, Inc		23,269
854	*	Haynes International, Inc		59,353
1,740	*	Horsehead Holding Corp		29,528
4,335		Hubbell, Inc (Class B)		223,686
1,309	*	LB Foster Co (Class A)		67,715
2,004		Matthews International Corp (Class A)		93,927
2,587		Mueller Industries, Inc		74,997
639	e*	Northwest Pipe Co		25,010
23,211		Nucor Corp		1,374,555
553		Olympic Steel, Inc		17,536
10,582		Precision Castparts Corp		1,467,723
2,691	e*	Quanex Corp		139,663
1,766	e*	RTI International Metals, Inc		121,730
1,899		Schnitzer Steel Industries, Inc (Class A)		131,278
6,898	e*	Steel Dynamics, Inc		410,914
1,275	e*	Superior Essex, Inc		30,600
2,048	e*	Texas Industries, Inc		143,565
4,971	e*	Titanium Metals Corp		131,483
1,985	e*	Tredegar Corp		31,919
8,926		United States Steel Corp		1,079,243
475	*	Universal Stainless & Alloy		16,896
4,916	e*	Worthington Industries, Inc		87,898
		TOTAL PRIMARY METAL INDUSTRIES		13,383,099

135

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
PRINTING AND PUBLISHING - 0.44%
3,945	e*	ACCO Brands Corp	$	63,278
3,989		American Greetings Corp (Class A)		80,977
6,671	e*	Belo (A.H.) Corp (Class A)		116,342
2,149		Bowne & Co, Inc		37,822
763	*	Consolidated Graphics, Inc		36,487
738	e*	Courier Corp		24,361
509		CSS Industries, Inc		18,680
1,100	*	Dolan Media Co		32,087
4,632		Dun & Bradstreet Corp		410,534
1,468		Ennis, Inc		26,424
7,522	e*	EW Scripps Co (Class A)		338,565
18,597		Gannett Co, Inc		725,283
1,340	e*	GateHouse Media, Inc		11,765
4,449	e*	Harte-Hanks, Inc		76,968
4,153		John Wiley & Sons, Inc (Class A)		177,915
2,531		Journal Communications, Inc (Class A)		22,627
3,120	e*	Lee Enterprises, Inc		45,708
1,457	e*	Martha Stewart Living Omnimedia, Inc (Class A)		13,506
3,476	e*	McClatchy Co (Class A)		43,520
26,555		McGraw-Hill Cos, Inc		1,163,375
1,397		Media General, Inc (Class A)		29,686
4,055		Meredith Corp		222,944
1,000	*	MSCI, Inc		38,400
612		Multi-Color Corp		16,812
9,887	e*	New York Times Co (Class A)		173,319
1,525	e*	Playboy Enterprises, Inc (Class B)		13,908
3,226	e*	Primedia, Inc		27,421
5,474	e*	R.H. Donnelley Corp		199,692
16,772		R.R. Donnelley & Sons Co		632,975
864	e*	Schawk, Inc		13,409
2,978	*	Scholastic Corp		103,902
1,098	e*	Standard Register Co		12,803
5,095	e*	Sun-Times Media Group, Inc (Class A)		11,209
3,433	e*	Valassis Communications, Inc		40,132
3,125	e*	VistaPrint Ltd		133,906
467	e*	Washington Post Co (Class B)		369,598
		TOTAL PRINTING AND PUBLISHING		5,506,340
RAILROAD TRANSPORTATION - 0.65%
27,280		Burlington Northern Santa Fe Corp		2,270,514
32,855		CSX Corp		1,444,963
2,561	e*	Genesee & Wyoming, Inc (Class A)		61,899
5,583	e*	Kansas City Southern Industries, Inc		191,664
30,164		Norfolk Southern Corp		1,521,472
20,630		Union Pacific Corp		2,591,541
		TOTAL RAILROAD TRANSPORTATION		8,082,053
REAL ESTATE - 0.10%
14,234	e*	CB Richard Ellis Group, Inc (Class A)		306,743
406	e*	Consolidated-Tomoka Land Co		25,448
2,600		DuPont Fabros Technology Inc		50,960
5,434		Forest City Enterprises, Inc (Class A)		241,487

136

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,565	*	Forestar Real Estate Group, Inc	$	60,524
7,117	e*	Grubb & Ellis Co		45,620
2,783		Jones Lang LaSalle, Inc		198,038
1,976	e*	LoopNet, Inc		27,763
5,414	e*	St. Joe Co		192,251
6,488	e*	Stewart Enterprises, Inc (Class A)		57,743
1,745		Thomas Properties Group, Inc		18,811
		TOTAL REAL ESTATE		1,225,388
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.30%
485	*	AEP Industries, Inc		15,525
4,612		Cooper Tire & Rubber Co		76,467
928	e*	Deckers Outdoor Corp		143,896
16,727	*	Goodyear Tire & Rubber Co		472,036
1,047	e*	Metabolix, Inc		24,919
21,429		Newell Rubbermaid, Inc		554,583
27,416		Nike, Inc (Class B)		1,761,204
2,302		Schulman (A.), Inc		49,608
11,796		Sealed Air Corp		272,959
1,498	*	Skechers U.S.A., Inc (Class A)		29,226
2,697		Spartech Corp		38,028
2,058	e*	Titan International, Inc		64,333
679	e*	Trex Co, Inc		5,778
4,822		Tupperware Corp		159,271
2,169	e*	West Pharmaceutical Services, Inc		88,040
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		3,755,873
SECURITY AND COMMODITY BROKERS - 3.05%
18,323		Ameriprise Financial, Inc		1,009,781
8,962	e*	Bear Stearns Cos, Inc		790,897
4,841	e*	BlackRock, Inc		1,049,529
10,699		Broadridge Financial Solutions, Inc		239,979
1,550	e*	Calamos Asset Management, Inc (Class A)		46,159
71,745		Charles Schwab Corp		1,833,085
4,243		CME Group, Inc		2,910,698
1,263	e*	Cohen & Steers, Inc		37,852
1,181	e*	Cowen Group, Inc		11,231
33,916	e*	E*Trade Financial Corp		120,402
8,382	e*	Eaton Vance Corp		380,627
628	e*	Evercore Partners, Inc (Class A)		13,533
2,000	*	FBR Capital Markets Corp		19,160
627	*	FCStone Group, Inc		28,861
6,729	e*	Federated Investors, Inc (Class B)		276,966
12,776		Franklin Resources, Inc		1,461,958
465		GAMCO Investors, Inc (Class A)		32,178
1,167	*	GFI Group, Inc		111,705
31,475		Goldman Sachs Group, Inc		6,768,699
1,185	e*	Greenhill & Co, Inc		78,779
2,928	*	Interactive Brokers Group, Inc (Class A)		94,633
5,490	*	IntercontinentalExchange, Inc		1,056,825
30,500	e*	Invesco Ltd		957,090
3,218	*	Investment Technology Group, Inc		153,145
13,643	e*	Janus Capital Group, Inc		448,173
8,994		Jefferies Group, Inc		207,312

137

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,123	e*	KBW, Inc	$	54,328
7,726	*	Knight Capital Group, Inc (Class A)		111,254
9,929	e*	LaBranche & Co, Inc		50,042
7,157	e*	Ladenburg Thalmann Financial Services, Inc		15,173
3,751		Lazard Ltd (Class A)		152,591
10,392		Legg Mason, Inc		760,175
41,187		Lehman Brothers Holdings, Inc		2,695,277
2,236	e*	MarketAxess Holdings, Inc		28,688
67,884		Merrill Lynch & Co, Inc		3,644,013
7,330	*	MF Global Ltd		230,675
81,203		Morgan Stanley		4,312,691
955	e*	Morningstar, Inc		74,251
8,882	*	Nasdaq Stock Market, Inc		439,570
6,947		Nymex Holdings, Inc		928,189
20,385		NYSE Euronext		1,789,191
3,186	e*	optionsXpress Holdings, Inc		107,751
940	*	Penson Worldwide, Inc		13,489
1,448	*	Piper Jaffray Cos		67,071
6,853		Raymond James Financial, Inc		223,819
730	e*	Sanders Morris Harris Group, Inc		7,483
9,408		SEI Investments Co		302,655
1,084	e*	Stifel Financial Corp		56,986
1,369		SWS Group, Inc		17,345
20,214	e*	T Rowe Price Group, Inc		1,230,628
18,272		TD Ameritrade Holding Corp		366,536
1,572	*	Thomas Weisel Partners Group, Inc		21,584
834	e*	US Global Investors, Inc (Class A)		13,894
39		Value Line, Inc		1,570
5,851		Waddell & Reed Financial, Inc (Class A)		211,163
1,558	e*	WP Stewart & Co Ltd		7,961
		TOTAL SECURITY AND COMMODITY BROKERS		38,075,300
SOCIAL SERVICES - 0.01%
2,064	*	Bright Horizons Family Solutions, Inc		71,291
1,459	*	Capital Senior Living Corp		14,488
889	e*	Providence Service Corp		25,016
1,945	*	Res-Care, Inc		48,936
		TOTAL SOCIAL SERVICES		159,731
SPECIAL TRADE CONTRACTORS - 0.06%
336	e*	Alico, Inc		12,264
2,239	*	AsiaInfo Holdings, Inc		24,629
1,767		Chemed Corp		98,740
3,012		Comfort Systems USA, Inc		38,493
2,968	*	Dycom Industries, Inc		79,097
4,404	*	EMCOR Group, Inc		104,067
1,805	*	Insituform Technologies, Inc (Class A)		26,714
1,031	e*	Integrated Electrical Services, Inc		19,372
1,410	*	Layne Christensen Co		69,386
11,925	e*	Quanta Services, Inc		312,912
		TOTAL SPECIAL TRADE CONTRACTORS		785,674
STONE, CLAY, AND GLASS PRODUCTS - 0.49%
55,444		3M Co		4,675,038

138

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,797		Apogee Enterprises, Inc	$	30,747
1,575	*	Cabot Microelectronics Corp		56,558
1,376	e*	CARBO Ceramics, Inc		51,187
3,422	e*	Eagle Materials, Inc		121,413
10,561		Gentex Corp		187,669
1,024		Libbey, Inc		16,220
8,425	e*	Owens Corning, Inc		170,354
11,897	*	Owens-Illinois, Inc		588,902
5,438	e*	US Concrete, Inc		18,109
5,829	e*	USG Corp		208,620
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		6,124,817
TEXTILE MILL PRODUCTS - 0.00% **
838	e*	Heelys, Inc		5,832
988	e*	Oxford Industries, Inc		25,461
1,030		Xerium Technologies, Inc		5,356
		TOTAL TEXTILE MILL PRODUCTS		36,649
TOBACCO PRODUCTS - 1.18%
161,976		Altria Group, Inc		12,242,146
8,611		Loews Corp (Carolina Group)		734,518
13,352	e*	Reynolds American, Inc		880,698
1,903	e*	Universal Corp		97,472
12,213	e*	UST, Inc		669,272
2,667	e*	Vector Group Ltd		53,500
		TOTAL TOBACCO PRODUCTS		14,677,606
TRANSPORTATION BY AIR - 0.40%
6,873	e*	ABX Air, Inc		28,729
708	*	Air Methods Corp		35,166
7,375	e*	Airtran Holdings, Inc		52,805
2,676	e*	Alaska Air Group, Inc		66,927
18,758	e*	AMR Corp		263,175
1,128	*	Atlas Air Worldwide Holdings, Inc		61,160
1,954	*	Bristow Group, Inc		110,694
7,366	e*	Continental Airlines, Inc (Class B)		163,894
1,258	e*	Copa Holdings S.A. (Class A)		47,263
20,677	*	Delta Air Lines, Inc		307,881
4,473	e*	ExpressJet Holdings, Inc		11,093
23,543		FedEx Corp		2,099,329
12,624	e*	JetBlue Airways Corp		74,482
1,758	e*	Midwest Air Group, Inc		26,018
21,437	*	Northwest Airlines Corp		311,051
922	e*	PHI, Inc		28,600
1,460	e*	Pinnacle Airlines Corp		22,265
2,859	*	Republic Airways Holdings, Inc		56,008
4,709		Skywest, Inc		126,437
58,701		Southwest Airlines Co		716,152
8,948	e*	UAL Corp		319,086
6,653	e*	US Airways Group, Inc		97,866
		TOTAL TRANSPORTATION BY AIR		5,026,081
TRANSPORTATION EQUIPMENT - 2.54%
1,320		A.O. Smith Corp		46,266

139

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,626	*	AAR Corp	$	99,867
1,900	e*	Accuride Corp		14,934
1,480	e*	Aerovironment, Inc		35,816
1,854	*	Aftermarket Technology Corp		50,540
3,270	e*	American Axle & Manufacturing Holdings, Inc		60,887
668	e*	American Railcar Industries, Inc		12,859
1,552	*	Amerigon, Inc		32,809
1,151	e*	Arctic Cat, Inc		13,743
5,173	e*	ArvinMeritor, Inc		60,679
6,003		Autoliv, Inc		316,418
7,275	*	BE Aerospace, Inc		384,848
60,701		Boeing Co		5,308,909
6,439	e*	Brunswick Corp		109,785
4,188	e*	Clarcor, Inc		159,018
1,776	e*	Comtech Group, Inc		28,611
3,326		Federal Signal Corp		37,318
4,793	e*	Fleetwood Enterprises, Inc		28,662
6,538	e*	Force Protection, Inc		30,598
152,044	e*	Ford Motor Co		1,023,256
872	e*	Freightcar America, Inc		30,520
4,586	e*	GenCorp, Inc		53,473
30,952		General Dynamics Corp		2,754,418
37,329	e*	General Motors Corp		929,119
691	e*	GenTek, Inc		20,226
13,623		Genuine Parts Co		630,745
9,628		Goodrich Corp		679,833
908	e*	Greenbrier Cos, Inc		20,212
1,661	e*	Group 1 Automotive, Inc		39,449
18,860	e*	Harley-Davidson, Inc		880,951
6,362		Harsco Corp		407,613
14,118	*	Hayes Lemmerz International, Inc		64,519
1,858	e*	Heico Corp		101,224
13,819		ITT Industries, Inc		912,607
1,815		Kaman Corp		66,810
27,205		Lockheed Martin Corp		2,863,598
624	*	Miller Industries, Inc		8,543
1,899	e*	Monaco Coach Corp		16,863
790	e*	Noble International Ltd		12,885
26,496		Northrop Grumman Corp		2,083,645
5,333	*	Orbital Sciences Corp		130,765
5,487		Oshkosh Truck Corp		259,316
28,637	e*	Paccar, Inc		1,560,144
9,466	*	Pactiv Corp		252,080
2,600	e*	Polaris Industries, Inc		124,202
34,015		Raytheon Co		2,064,711
2,358	e*	Spartan Motors, Inc		18,015
5,413	*	Spirit Aerosystems Holdings, Inc (Class A)		186,749
1,177		Standard Motor Products, Inc		9,604
1,529	e*	Superior Industries International, Inc		27,782
3,354	e*	Tenneco, Inc		87,439
2,377	e*	Thor Industries, Inc		90,350
796	*	TransDigm Group, Inc		35,955
6,079	e*	Trinity Industries, Inc		168,753
1,153	e*	Triumph Group, Inc		94,950

140

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,080	*	TRW Automotive Holdings Corp	$	64,372
76,571		United Technologies Corp		5,860,744
10,912	e*	Visteon Corp		47,904
2,132		Wabash National Corp		16,395
3,975		Westinghouse Air Brake Technologies Corp		136,899
2,357	e*	Winnebago Industries, Inc		49,544
		TOTAL TRANSPORTATION EQUIPMENT		31,719,749
TRANSPORTATION SERVICES - 0.17%
1,389	e*	Ambassadors Group, Inc		25,433
287	e*	Ambassadors International, Inc		4,184
13,060		CH Robinson Worldwide, Inc		706,807
848	e*	Dynamex, Inc		22,947
15,750	e*	Expeditors International Washington, Inc		703,710
4,435		GATX Corp		162,676
3,009	*	HUB Group, Inc (Class A)		79,979
6,541	*	Lear Corp		180,924
2,400	*	Orbitz Worldwide, Inc		20,400
2,524		Pacer International, Inc		36,850
2,093	e*	Ship Finance International Ltd		57,997
9,071		UTI Worldwide, Inc		177,792
		TOTAL TRANSPORTATION SERVICES		2,179,699
TRUCKING AND WAREHOUSING - 0.37%
1,783	e*	Arkansas Best Corp		39,119
1,550	e*	Celadon Group, Inc		14,198
3,863	e*	Con-way, Inc		160,469
2,398		Forward Air Corp		74,746
4,102	e*	Heartland Express, Inc		58,166
7,060	e*	J.B. Hunt Transport Services, Inc		194,503
4,818		Landstar System, Inc		203,079
868	e*	Marten Transport Ltd		12,109
2,240	e*	Old Dominion Freight Line		51,766
1,124	*	Saia, Inc		14,949
51,774		United Parcel Service, Inc (Class B)		3,661,457
394	e*	Universal Truckload Services, Inc		7,549
3,306	e*	Werner Enterprises, Inc		56,301
5,165	e*	YRC Worldwide, Inc		88,270
		TOTAL TRUCKING AND WAREHOUSING		4,636,681
WATER TRANSPORTATION - 0.29%
3,237		Alexander & Baldwin, Inc		167,223
4,816	e*	American Commercial Lines, Inc		78,212
985	e*	Arlington Tankers Ltd		21,798
33,790		Carnival Corp		1,503,317
1,583	e*	Double Hull Tankers, Inc		19,376
3,050	e*	Eagle Bulk Shipping, Inc		80,978
3,883	e*	Frontline Ltd		186,384
1,288	e*	Genco Shipping & Trading Ltd		70,531
2,091	e*	General Maritime Corp		51,125
2,545	e*	Golar LNG Ltd		56,295
1,828	*	Gulfmark Offshore, Inc		85,532
2,450	e*	Horizon Lines, Inc (Class A)		45,668
2,095	e*	Hornbeck Offshore Services, Inc		94,170

141

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,881	*	Kirby Corp	$	180,389
1,231	e*	Knightsbridge Tankers Ltd		29,729
1,957	e*	Nordic American Tanker Shipping		64,229
2,912	e*	Odyssey Marine Exploration, Inc		18,025
2,409		Overseas Shipholding Group, Inc		179,302
9,683	e*	Royal Caribbean Cruises Ltd		410,947
810	e*	TBS International Ltd (Class A)		26,779
3,285	e*	Teekay Corp		174,795
2,606	e*	Ultrapetrol Bahamas Ltd		44,328
		TOTAL WATER TRANSPORTATION		3,589,132
WHOLESALE TRADE-DURABLE GOODS - 0.34%
2,311	e*	Agilysys, Inc		34,942
3,078		Applied Industrial Technologies, Inc		89,324
9,621	*	Arrow Electronics, Inc		377,913
3,350	e*	Barnes Group, Inc		111,857
2,934	e*	Beacon Roofing Supply, Inc		24,704
1,201	e*	BlueLinx Holdings, Inc		4,720
8,564		BorgWarner, Inc		414,583
4,412	e*	Building Material Holding Corp		24,398
990		Castle (A.M.) & Co		26,918
1,509	e*	Conceptus, Inc		29,033
1,588	*	Digi International, Inc		22,534
1,510	e*	Drew Industries, Inc		41,374
5,529	*	Genesis Microchip, Inc		47,384
681	e*	Hansen Medical, Inc		20,389
1,040	e*	Houston Wire & Cable Co		14,706
7,856		IKON Office Solutions, Inc		102,285
11,124	*	Ingram Micro, Inc (Class A)		200,677
4,534	*	Insight Enterprises, Inc		82,700
1,838	*	Interline Brands, Inc		40,271
4,015	e*	Knight Transportation, Inc		59,462
299		Lawson Products, Inc		11,338
8,394	*	LKQ Corp		176,442
3,102	e*	Martin Marietta Materials, Inc		411,325
440	*	MWI Veterinary Supply, Inc		17,600
3,496		Owens & Minor, Inc		148,335
11,438	e*	Patterson Cos, Inc		388,320
3,421	e*	PEP Boys-Manny Moe & Jack		39,273
3,769	e*	Pool Corp		74,739
4,453	*	PSS World Medical, Inc		87,145
5,006		Reliance Steel & Aluminum Co		271,325
1,942	*	Solera Holdings, Inc		48,123
4,235	*	Tech Data Corp		159,744
827	e*	TomoTherapy, Inc		16,176
3,578	e*	Tyler Technologies, Inc		46,120
5,606		W.W. Grainger, Inc		490,637
3,319	*	WESCO International, Inc		131,565
745	e*	West Marine, Inc		6,690
		TOTAL WHOLESALE TRADE-DURABLE GOODS		4,295,071
WHOLESALE TRADE-NONDURABLE GOODS - 0.56%
5,715		Airgas, Inc		297,809
2,989	*	Akorn, Inc		21,939

142

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
8,136	*	Alliance One International, Inc	$	33,114
4,019	e*	Allscripts Healthcare Solutions, Inc		78,049
1,516		Andersons, Inc		67,917
2,715	e*	Bare Escentuals, Inc		65,839
1,986	e*	Beijing Med-Pharm Corp		21,806
6,047	e*	Brown-Forman Corp (Class B)		448,143
28,026		Cardinal Health, Inc		1,618,502
2,409	e*	Central European Distribution Corp		139,915
667	e*	Core-Mark Holding Co, Inc		19,156
10,979	e*	Dean Foods Co		283,917
9,857	*	Endo Pharmaceuticals Holdings, Inc		262,886
2,084	*	Fresh Del Monte Produce, Inc		69,981
1,092	e*	Green Mountain Coffee Roasters, Inc		44,444
2,712	e*	Hain Celestial Group, Inc		86,784
7,098	e*	Henry Schein, Inc		435,817
4,388		Herbalife Ltd		176,749
11,952	e*	Idearc, Inc		209,877
669	e*	Kenneth Cole Productions, Inc (Class A)		11,701
1,677	e*	K-Swiss, Inc (Class A)		30,354
1,070	e*	LSB Industries, Inc		30,195
136	e*	Maui Land & Pineapple Co, Inc		3,959
4,634		Men's Wearhouse, Inc		125,025
1,840		Myers Industries, Inc		26,625
816	e*	Nash Finch Co		28,788
3,720		Nu Skin Enterprises, Inc (Class A)		61,120
928	*	Nuco2, Inc		23,107
887	*	Perry Ellis International, Inc		13,642
1,699	e*	School Specialty, Inc		58,700
1,840	e*	Source Interlink Cos, Inc		5,299
1,321	e*	Spartan Stores, Inc		30,185
47,550		Sysco Corp		1,484,036
6,884	*	Terra Industries, Inc		328,780
2,710	e*	Tractor Supply Co		97,397
2,765	e*	United Natural Foods, Inc		87,706
2,146	e*	United Stationers, Inc		99,167
356	e*	Valhi, Inc		5,675
1,324	e*	Volcom, Inc		29,168
1,682	*	Zep Inc		23,329
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		6,986,602
		TOTAL COMMON STOCKS		1,241,813,783
		(Cost $924,843,011)
SHORT TERM INVESTMENTS - 9.27%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.38%
$        4,820,000		Federal Home Loan Bank (FHLB) 0.000%, 01/02/08		4,820,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		4,820,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 8.89%
110,978,175		State Street Navigator Securities Lending Prime Portfolio		110,978,175
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		110,978,175

143

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
				VALUE
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $115,797,739)	$	115,798,175
		TOTAL PORTFOLIO -108.71%		1,357,611,958
		(Cost $1,040,640,750)
		OTHER ASSETS & LIABILITIES, NET - (8.71)%		(108,805,353	)
		NET ASSETS - 100.00%	$	1,248,806,605
	*	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 $28,659,410.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.
		At December 31, 2007, the unrealized appreciation on investments was $316,971,208, consisting of
		gross unrealized appreciation of $376,980,236 and gross unrealized depreciation of $60,009,028.

144

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
S&P 500 INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.47%
AMUSEMENT AND RECREATION SERVICES - 0.58%
16,125		Harrah's Entertainment, Inc	$	1,431,094
165,770		Walt Disney Co		5,351,055
		TOTAL AMUSEMENT AND RECREATION SERVICES		6,782,149
APPAREL AND ACCESSORY STORES - 0.33%
7,700		Abercrombie & Fitch Co (Class A)		615,769
40,537		Gap, Inc		862,627
27,415	*	Kohl's Corp		1,255,607
28,570		Limited Brands, Inc		540,830
17,113		Nordstrom, Inc		628,560
		TOTAL APPAREL AND ACCESSORY STORES		3,903,393
APPAREL AND OTHER TEXTILE PRODUCTS - 0.10%
8,603	e	Jones Apparel Group, Inc		137,562
9,026		Liz Claiborne, Inc		183,679
5,380		Polo Ralph Lauren Corp		332,430
7,373		VF Corp		506,230
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,159,901
AUTO REPAIR, SERVICES AND PARKING - 0.02%
5,110		Ryder System, Inc		240,221
		TOTAL AUTO REPAIR, SERVICES AND PARKING		240,221
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.06%
12,820	*	Autonation, Inc		200,761
3,968	*	Autozone, Inc		475,803
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		676,564
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.58%
145,749		Home Depot, Inc		3,926,478
127,618		Lowe's Cos, Inc		2,886,719
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		6,813,197
BUSINESS SERVICES - 6.67%
49,963	*	Adobe Systems, Inc		2,134,919
8,392	*	Affiliated Computer Services, Inc (Class A)		378,479
15,000	*	Akamai Technologies, Inc		519,000
19,934	*	Autodesk, Inc		991,916
46,099		Automatic Data Processing, Inc		2,052,788
17,794	*	BMC Software, Inc		634,178
33,568		CA, Inc		837,522
16,421	*	Citrix Systems, Inc		624,162
24,800	*	Cognizant Technology Solutions Corp (Class A)		841,712
15,106	*	Computer Sciences Corp		747,294
26,698	*	Compuware Corp		237,078

145

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
13,106	*	Convergys Corp	$	215,725
98,483	*	eBay, Inc		3,268,651
26,809	*	Electronic Arts, Inc		1,565,914
44,350		Electronic Data Systems Corp		919,376
12,005		Equifax, Inc		436,502
18,100	*	Expedia, Inc		572,322
14,600		Fidelity National Information Services, Inc		607,214
13,995	*	Fiserv, Inc		776,583
20,066	*	Google, Inc (Class A)		13,875,238
17,017		IMS Health, Inc		392,072
39,401	*	Interpublic Group of Cos, Inc		319,542
29,264	*	Intuit, Inc		925,035
45,323	*	Juniper Networks, Inc		1,504,724
700,158		Microsoft Corp		24,925,625
11,892	*	Monster Worldwide, Inc		385,301
28,550	*	Novell, Inc		196,139
28,264		Omnicom Group, Inc		1,343,388
343,102	*	Oracle Corp		7,747,243
14,885		Robert Half International, Inc		402,490
71,398	*	Sun Microsystems Inc		1,294,446
75,515	*	Symantec Corp		1,218,812
32,643	*	Unisys Corp		154,401
19,292	*	VeriSign, Inc		725,572
44,361		Waste Management, Inc		1,449,274
116,240	*	Yahoo!, Inc		2,703,742
		TOTAL BUSINESS SERVICES		77,924,379
CHEMICALS AND ALLIED PRODUCTS - 9.54%
134,034		Abbott Laboratories		7,526,009
18,653		Air Products & Chemicals, Inc		1,839,745
94,637	*	Amgen, Inc		4,394,942
9,174		Avery Dennison Corp		487,506
37,336		Avon Products, Inc		1,475,892
9,537	*	Barr Pharmaceuticals, Inc		506,415
25,379	*	Biogen Idec, Inc		1,444,573
172,069		Bristol-Myers Squibb Co		4,563,270
12,164		Clorox Co		792,728
44,005		Colgate-Palmolive Co		3,430,630
82,023		Dow Chemical Co		3,233,347
78,273		Du Pont (E.I.) de Nemours & Co		3,451,057
7,116		Eastman Chemical Co		434,716
14,750		Ecolab, Inc		755,348
85,865		Eli Lilly & Co		4,584,332
10,027		Estee Lauder Cos (Class A)		437,277
27,436	*	Forest Laboratories, Inc		1,000,042
23,102	*	Genzyme Corp		1,719,713
80,944	*	Gilead Sciences, Inc		3,724,233
9,858		Hercules, Inc		190,752
13,176	*	Hospira, Inc		561,825
6,923		International Flavors & Fragrances, Inc		333,204
24,091	*	King Pharmaceuticals, Inc		246,692
189,391		Merck & Co, Inc		11,005,511
47,417		Monsanto Co		5,296,005
26,276	*	Mylan Laboratories, Inc		369,441

146

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
594,447		Pfizer, Inc	$	13,511,780
14,128		PPG Industries, Inc		992,209
27,621		Praxair, Inc		2,450,259
270,214		Procter & Gamble Co		19,839,112
11,372		Rohm & Haas Co		603,512
139,748		Schering-Plough Corp		3,722,887
9,485		Sherwin-Williams Co		550,509
11,800		Sigma-Aldrich Corp		644,280
8,303	*	Watson Pharmaceuticals, Inc		225,343
116,037		Wyeth		5,127,675
		TOTAL CHEMICALS AND ALLIED PRODUCTS		111,472,771
COAL MINING - 0.22%
15,435		Consol Energy, Inc		1,103,911
22,900		Peabody Energy Corp		1,411,556
		TOTAL COAL MINING		2,515,467
COMMUNICATIONS - 4.18%
35,000	*	American Tower Corp (Class A)		1,491,000
527,756		AT&T, Inc		21,933,539
9,991		CenturyTel, Inc		414,227
29,970		Citizens Communications Co		381,518
42,981		Clear Channel Communications, Inc		1,483,704
266,731	*	Comcast Corp (Class A)		4,870,508
62,500	*	DIRECTV Group, Inc		1,445,000
13,511		Embarq Corp		669,200
16,100	*	IAC/InterActiveCorp		433,412
137,937		Qwest Communications International, Inc		966,938
245,724		Sprint Nextel Corp		3,226,356
251,434		Verizon Communications, Inc		10,985,151
41,203		Windstream Corp		536,463
		TOTAL COMMUNICATIONS		48,837,016
DEPOSITORY INSTITUTIONS - 7.53%
386,247		Bank of America Corp		15,936,551
99,051		Bank of New York Mellon Corp		4,829,727
47,609		BB&T Corp		1,460,168
434,432		Citigroup, Inc		12,789,678
13,004		Comerica, Inc		566,064
16,535		Commerce Bancorp, Inc		630,645
46,364		Fifth Third Bancorp		1,165,127
10,223	e	First Horizon National Corp		185,547
45,900		Hudson City Bancorp, Inc		689,418
31,597		Huntington Bancshares, Inc		466,372
292,066		JPMorgan Chase & Co		12,748,681
33,692		Keycorp		790,077
6,406		M&T Bank Corp		522,537
22,986		Marshall & Ilsley Corp		608,669
54,626		National City Corp		899,144
16,953		Northern Trust Corp		1,298,261
30,417		PNC Financial Services Group, Inc		1,996,876
60,763		Regions Financial Corp		1,437,045
30,972		Sovereign Bancorp, Inc		353,081
33,627		State Street Corp		2,730,512

147

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
30,123		SunTrust Banks, Inc	$	1,882,386
28,349		Synovus Financial Corp		682,644
150,227		US Bancorp		4,768,205
171,861		Wachovia Corp		6,535,874
75,578		Washington Mutual, Inc		1,028,617
293,617		Wells Fargo & Co		8,864,297
65,423		Western Union Co		1,588,470
9,519		Zions Bancorporation		444,442
		TOTAL DEPOSITORY INSTITUTIONS		87,899,115
EATING AND DRINKING PLACES - 0.83%
12,269		Darden Restaurants, Inc		339,974
103,327		McDonald's Corp		6,086,994
64,355	*	Starbucks Corp		1,317,347
8,327		Wendy's International, Inc		215,170
44,954		Yum! Brands, Inc		1,720,390
		TOTAL EATING AND DRINKING PLACES		9,679,875
EDUCATIONAL SERVICES - 0.07%
12,380	*	Apollo Group, Inc (Class A)		868,457
		TOTAL EDUCATIONAL SERVICES		868,457
ELECTRIC, GAS, AND SANITARY SERVICES - 3.73%
57,827	*	AES Corp		1,236,920
14,146		Allegheny Energy, Inc		899,827
24,913	*	Allied Waste Industries, Inc		274,541
17,933		Ameren Corp		972,148
34,512		American Electric Power Co, Inc		1,606,879
27,778		Centerpoint Energy, Inc		475,837
19,365		CMS Energy Corp		336,564
23,392		Consolidated Edison, Inc		1,142,699
15,600		Constellation Energy Group, Inc		1,599,468
50,990		Dominion Resources, Inc		2,419,476
14,301		DTE Energy Co		628,672
108,930		Duke Energy Corp		2,197,118
42,858	*	Dynegy, Inc (Class A)		306,006
28,796		Edison International		1,536,843
60,490		El Paso Corp		1,042,848
16,979		Entergy Corp		2,029,330
57,515		Exelon Corp		4,695,525
26,662		FirstEnergy Corp		1,928,729
35,684		FPL Group, Inc		2,418,662
6,676		Integrys Energy Group, Inc		345,082
3,870	e	Nicor, Inc		163,895
22,339		NiSource, Inc		421,984
16,400		Pepco Holdings, Inc		481,012
30,486		PG&E Corp		1,313,642
8,762		Pinnacle West Capital Corp		371,596
32,439		PPL Corp		1,689,748
22,341		Progress Energy, Inc		1,081,975
21,958		Public Service Enterprise Group, Inc		2,157,154
14,900		Questar Corp		806,090
22,790		Sempra Energy		1,410,245
65,348		Southern Co		2,532,235

148

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
18,639		TECO Energy, Inc	$	320,777
51,833		Williams Cos, Inc		1,854,585
36,295		Xcel Energy, Inc		819,178
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		43,517,290
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.62%
52,339	*	Advanced Micro Devices, Inc		392,543
30,697		Altera Corp		593,066
27,189		Analog Devices, Inc		861,891
76,161	*	Apple Computer, Inc		15,085,971
40,480	*	Broadcom Corp (Class A)		1,058,147
7,458	*	Ciena Corp		254,392
527,918	*	Cisco Systems, Inc		14,290,740
15,860		Cooper Industries Ltd (Class A)		838,677
12,588		Eaton Corp		1,220,407
5,324		Harman International Industries, Inc		392,432
64,539		Honeywell International, Inc		3,973,666
508,727		Intel Corp		13,562,662
18,804	e*	JDS Uniphase Corp		250,093
10,867		L-3 Communications Holdings, Inc		1,151,250
18,855		Linear Technology Corp		600,155
63,144	*	LSI Logic Corp		335,295
19,900	*	MEMC Electronic Materials, Inc		1,760,951
18,900	e	Microchip Technology, Inc		593,838
65,564	*	Micron Technology, Inc		475,339
12,691		Molex, Inc		346,464
199,740		Motorola, Inc		3,203,830
20,800		National Semiconductor Corp		470,912
29,982	*	Network Appliance, Inc		748,351
10,132	*	Novellus Systems, Inc		279,339
48,243	*	Nvidia Corp		1,641,227
13,080	*	QLogic Corp		185,736
142,475		Qualcomm, Inc		5,606,391
12,466		RadioShack Corp		210,177
38,762	*	Tellabs, Inc		253,503
121,669		Texas Instruments, Inc		4,063,745
42,896		Tyco Electronics Ltd		1,592,728
6,397		Whirlpool Corp		522,187
25,873		Xilinx, Inc		565,843
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		77,381,948
ENGINEERING AND MANAGEMENT SERVICES - 0.52%
33,039	*	Celgene Corp		1,526,732
7,631		Fluor Corp		1,111,989
10,200	*	Jacobs Engineering Group, Inc		975,222
19,149	e	Moody's Corp		683,619
29,297		Paychex, Inc		1,061,137
13,937		Quest Diagnostics, Inc		737,267
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		6,095,966
FABRICATED METAL PRODUCTS - 0.35%
8,869		Ball Corp		399,105
36,160		Illinois Tool Works, Inc		1,936,006
15,024		Parker Hannifin Corp		1,131,457

149

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
5,526		Snap-On, Inc	$	266,574
7,034		Stanley Works		341,008
		TOTAL FABRICATED METAL PRODUCTS		4,074,150
FOOD AND KINDRED PRODUCTS - 3.69%
63,964		Anheuser-Busch Cos, Inc		3,347,876
55,550		Archer Daniels Midland Co		2,579,187
19,423		Campbell Soup Co		693,984
172,884		Coca-Cola Co		10,609,891
25,051		Coca-Cola Enterprises, Inc		652,078
42,901		ConAgra Foods, Inc		1,020,615
17,790	*	Constellation Brands, Inc (Class A)		420,556
29,390		General Mills, Inc		1,675,230
27,537		H.J. Heinz Co		1,285,427
14,835		Hershey Co		584,499
22,957		Kellogg Co		1,203,636
134,726		Kraft Foods, Inc (Class A)		4,396,109
11,257		McCormick & Co, Inc		426,753
11,384		Molson Coors Brewing Co (Class B)		587,642
12,108		Pepsi Bottling Group, Inc		477,782
140,018		PepsiCo, Inc		10,627,366
63,072		Sara Lee Corp		1,012,936
23,671		Tyson Foods, Inc (Class A)		362,876
19,059		Wrigley (Wm.) Jr Co		1,115,904
		TOTAL FOOD AND KINDRED PRODUCTS		43,080,347
FOOD STORES - 0.35%
59,320		Kroger Co		1,584,437
37,857		Safeway, Inc		1,295,088
18,100		Supervalu, Inc		679,112
12,273	e	Whole Foods Market, Inc		500,738
		TOTAL FOOD STORES		4,059,375
FORESTRY - 0.12%
18,617		Weyerhaeuser Co		1,372,818
		TOTAL FORESTRY		1,372,818
FURNITURE AND FIXTURES - 0.24%
51,296		Johnson Controls, Inc		1,848,708
16,173	e	Leggett & Platt, Inc		282,057
31,271		Masco Corp		675,766
		TOTAL FURNITURE AND FIXTURES		2,806,531
FURNITURE AND HOME FURNISHINGS STORES - 0.14%
23,945	*	Bed Bath & Beyond, Inc		703,744
17,503	e	Circuit City Stores, Inc		73,513
13,400	*	GameStop Corp (Class A)		832,274
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		1,609,531
GENERAL BUILDING CONTRACTORS - 0.10%
11,466		Centex Corp		289,631
25,006		DR Horton, Inc		329,329
7,400	e	KB Home		159,840
12,331		Lennar Corp (Class A)		220,602

150

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
20,048		Pulte Homes, Inc	$	211,306
		TOTAL GENERAL BUILDING CONTRACTORS		1,210,708
GENERAL MERCHANDISE STORES - 1.66%
9,215	e*	Big Lots, Inc		147,348
37,358		Costco Wholesale Corp		2,606,094
6,283	e	Dillard's, Inc (Class A)		117,995
13,353		Family Dollar Stores, Inc		256,778
19,059		JC Penney Co, Inc		838,405
37,387		Macy's, Inc		967,202
72,341		Target Corp		3,617,050
38,388		TJX Cos, Inc		1,102,887
205,720		Wal-Mart Stores, Inc		9,777,872
		TOTAL GENERAL MERCHANDISE STORES		19,431,631
HEALTH SERVICES - 1.18%
14,663		AmerisourceBergen Corp		657,929
24,820		Cigna Corp		1,333,579
13,349	*	Coventry Health Care, Inc		790,928
22,174	*	Express Scripts, Inc		1,618,702
10,425	*	Laboratory Corp of America Holdings		787,400
25,538		McKesson Corp		1,672,994
23,521	*	Medco Health Solutions, Inc		2,385,029
41,198	*	Tenet Healthcare Corp		209,286
49,509	*	WellPoint, Inc		4,343,425
		TOTAL HEALTH SERVICES		13,799,272
HOLDING AND OTHER INVESTMENT OFFICES - 4.59%
8,111	e	Apartment Investment & Management Co (Class A)		281,695
6,800		AvalonBay Communities, Inc		640,152
10,110		Boston Properties, Inc		928,199
10,400		Developers Diversified Realty Corp		398,216
23,852		Equity Residential		869,882
21,200		General Growth Properties, Inc		873,016
45,100		Host Marriott Corp		768,504
21,130		Kimco Realty Corp		769,132
15,465		Plum Creek Timber Co, Inc		712,009
22,125		Prologis		1,402,282
10,706		Public Storage, Inc		785,927
19,215		Simon Property Group, Inc		1,669,015
290,800		SPDR Trust Series 1		42,517,868
11,568		Vornado Realty Trust		1,017,406
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		53,633,303
HOTELS AND OTHER LODGING PLACES - 0.18%
27,892		Marriott International, Inc (Class A)		953,349
17,604		Starwood Hotels & Resorts Worldwide, Inc		775,104
16,139		Wyndham Worldwide Corp		380,235
		TOTAL HOTELS AND OTHER LODGING PLACES		2,108,688
INDUSTRIAL MACHINERY AND EQUIPMENT - 7.25%
118,996		Applied Materials, Inc		2,113,369
5,331		Black & Decker Corp		371,304
55,170		Caterpillar, Inc		4,003,135

151

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
8,926		Cummins, Inc	$	1,136,905
38,280		Deere & Co		3,564,634
196,066	*	Dell, Inc		4,805,578
17,639		Dover Corp		812,981
180,995	*	EMC Corp		3,353,837
879,584	d	General Electric Co		32,606,179
224,328		Hewlett-Packard Co		11,324,077
23,770		Ingersoll-Rand Co Ltd (Class A)		1,104,592
119,855		International Business Machines Corp		12,956,326
27,487		International Game Technology		1,207,504
17,879		Jabil Circuit, Inc		273,012
8,125	*	Lexmark International, Inc (Class A)		283,237
10,800		Manitowoc Co, Inc		527,364
10,940		Pall Corp		441,101
13,026		Rockwell Automation, Inc		898,273
19,660	*	SanDisk Corp		652,122
15,584	*	Teradata Corp		427,157
8,900	*	Terex Corp		583,573
14,541		Trane, Inc		679,210
11,300	*	Varian Medical Systems, Inc		589,408
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		84,714,878
INSTRUMENTS AND RELATED PRODUCTS - 4.45%
33,595	*	Agilent Technologies, Inc		1,234,280
26,526		Allergan, Inc		1,704,030
14,665		Applera Corp (Applied Biosystems Group)		497,437
8,969		Bard (C.R.), Inc		850,261
55,202		Baxter International, Inc		3,204,476
21,458		Becton Dickinson & Co		1,793,460
115,182	*	Boston Scientific Corp		1,339,567
42,896		Covidien Ltd		1,899,864
21,992		Danaher Corp		1,929,578
24,985	e	Eastman Kodak Co		546,422
68,300		Emerson Electric Co		3,869,878
249,100		Johnson & Johnson		16,614,970
16,390		Kla-Tencor Corp		789,342
98,412		Medtronic, Inc		4,947,171
4,777	*	Millipore Corp		349,581
10,203		PerkinElmer, Inc		265,482
18,926		Pitney Bowes, Inc		719,945
14,442		Rockwell Collins, Inc		1,039,391
29,404	*	St. Jude Medical, Inc		1,194,979
20,543		Stryker Corp		1,534,973
15,441	*	Teradyne, Inc		159,660
36,752	*	Thermo Electron Corp		2,119,855
8,368	*	Waters Corp		661,658
80,847		Xerox Corp		1,308,913
20,397	*	Zimmer Holdings, Inc		1,349,262
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		51,924,435
INSURANCE AGENTS, BROKERS AND SERVICE - 0.41%
25,263		AON Corp		1,204,792
27,425		Hartford Financial Services Group, Inc		2,391,186

152

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
45,305		Marsh & McLennan Cos, Inc	$	1,199,223
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		4,795,201
INSURANCE CARRIERS - 4.66%
28,405		ACE Ltd		1,754,861
43,668		Aetna, Inc		2,520,954
42,154		Aflac, Inc		2,640,105
49,784		Allstate Corp		2,600,218
8,603	e	Ambac Financial Group, Inc		221,699
221,328		American International Group, Inc		12,903,422
8,300		Assurant, Inc		555,270
33,496		Chubb Corp		1,828,212
14,849		Cincinnati Financial Corp		587,129
38,204		Genworth Financial, Inc (Class A)		972,292
14,528	*	Humana, Inc		1,094,104
14,400		Leucadia National Corp		678,240
23,287		Lincoln National Corp		1,355,769
38,334		Loews Corp		1,929,734
11,025	e	MBIA, Inc		205,396
64,093		Metlife, Inc		3,949,411
7,930	e	MGIC Investment Corp		177,870
22,917		Principal Financial Group		1,577,606
60,803	*	Progressive Corp		1,164,985
39,588		Prudential Financial, Inc		3,683,268
8,275		Safeco Corp		460,752
8,111		Torchmark Corp		490,959
56,729		Travelers Cos, Inc		3,052,020
112,483		UnitedHealth Group, Inc		6,546,511
31,114		UnumProvident Corp		740,202
15,502		XL Capital Ltd (Class A)		779,906
		TOTAL INSURANCE CARRIERS		54,470,895
LEATHER AND LEATHER PRODUCTS - 0.08%
32,146	*	Coach, Inc		983,025
		TOTAL LEATHER AND LEATHER PRODUCTS		983,025
METAL MINING - 0.46%
33,306		Freeport-McMoRan Copper & Gold, Inc (Class B)		3,411,867
38,957		Newmont Mining Corp		1,902,270
		TOTAL METAL MINING		5,314,137
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.31%
13,389		Fortune Brands, Inc		968,828
13,266		Hasbro, Inc		339,344
32,000		Mattel, Inc		609,280
42,896		Tyco International Ltd		1,700,826
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		3,618,278
MISCELLANEOUS RETAIL - 1.33%
26,387	*	Amazon.com, Inc		2,444,492
30,376		Best Buy Co, Inc		1,599,296
128,430		CVS Corp		5,105,093
24,682	*	Office Depot, Inc		343,327
6,758		OfficeMax, Inc		139,620
6,481	e*	Sears Holdings Corp		661,386

153

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
61,564		Staples, Inc	$	1,420,281
11,887		Tiffany & Co		547,159
85,751		Walgreen Co		3,265,398
		TOTAL MISCELLANEOUS RETAIL		15,526,052
MOTION PICTURES - 1.15%
59,082		CBS Corp (Class B)		1,609,985
199,794		News Corp (Class A)		4,093,779
314,552		Time Warner, Inc		5,193,254
57,191	*	Viacom, Inc (Class B)		2,511,829
		TOTAL MOTION PICTURES		13,408,847
NONDEPOSITORY INSTITUTIONS - 1.43%
16,500		American Capital Strategies Ltd		543,840
102,089		American Express Co		5,310,670
34,069		Capital One Financial Corp		1,610,101
16,090		CIT Group, Inc		386,643
50,825		Countrywide Financial Corp		454,376
41,216		Discover Financial Services		621,537
84,999		Fannie Mae		3,398,260
57,530		Freddie Mac		1,960,047
44,534	*	SLM Corp		896,915
21,480		Textron, Inc		1,531,524
		TOTAL NONDEPOSITORY INSTITUTIONS		16,713,913
NONMETALLIC MINERALS, EXCEPT FUELS - 0.06%
9,195		Vulcan Materials Co		727,233
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		727,233
OIL AND GAS EXTRACTION - 3.05%
40,544		Anadarko Petroleum Corp		2,663,335
27,577		Baker Hughes, Inc		2,236,495
24,987		BJ Services Co		606,185
39,455		Chesapeake Energy Corp		1,546,636
12,700		ENSCO International, Inc		757,174
76,839		Halliburton Co		2,912,966
24,121	*	Nabors Industries Ltd		660,674
30,734	*	National Oilwell Varco, Inc		2,257,720
23,246		Noble Corp		1,313,631
12,800		Range Resources Corp		657,408
9,601		Rowan Cos, Inc		378,855
104,002		Schlumberger Ltd		10,230,677
17,297		Smith International, Inc		1,277,383
27,662		Transocean, Inc		3,959,815
29,094	*	Weatherford International Ltd		1,995,848
41,607		XTO Energy, Inc		2,136,961
		TOTAL OIL AND GAS EXTRACTION		35,591,763
PAPER AND ALLIED PRODUCTS - 0.39%
9,361		Bemis Co		256,304
36,866		International Paper Co		1,193,721
37,161		Kimberly-Clark Corp		2,576,744
15,891		MeadWestvaco Corp		497,388
		TOTAL PAPER AND ALLIED PRODUCTS		4,524,157

154

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
PERSONAL SERVICES - 0.08%
12,231		Cintas Corp	$	411,206
27,345		H&R Block, Inc		507,797
		TOTAL PERSONAL SERVICES		919,003
PETROLEUM AND COAL PRODUCTS - 8.70%
29,006		Apache Corp		3,119,305
4,890		Ashland, Inc		231,933
183,821		Chevron Corp		17,156,014
139,234		ConocoPhillips		12,294,362
38,421		Devon Energy Corp		3,416,011
21,133		EOG Resources, Inc		1,886,120
475,546		Exxon Mobil Corp		44,553,905
23,867		Hess Corp		2,407,226
61,384		Marathon Oil Corp		3,735,830
16,281		Murphy Oil Corp		1,381,280
14,700		Noble Energy, Inc		1,168,944
72,263		Occidental Petroleum Corp		5,563,528
10,365		Sunoco, Inc		750,841
11,800		Tesoro Corp		562,860
48,172		Valero Energy Corp		3,373,485
		TOTAL PETROLEUM AND COAL PRODUCTS		101,601,644
PIPELINES, EXCEPT NATURAL GAS - 0.12%
54,565		Spectra Energy Corp		1,408,868
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,408,868
PRIMARY METAL INDUSTRIES - 0.97%
73,876		Alcoa, Inc		2,700,168
8,785		Allegheny Technologies, Inc		759,024
137,015		Corning, Inc		3,286,990
24,541		Nucor Corp		1,453,318
11,900		Precision Castparts Corp		1,650,530
7,200	e	Titanium Metals Corp		190,440
10,239		United States Steel Corp		1,237,997
		TOTAL PRIMARY METAL INDUSTRIES		11,278,467
PRINTING AND PUBLISHING - 0.36%
7,255		EW Scripps Co (Class A)		326,548
20,100		Gannett Co, Inc		783,900
28,962		McGraw-Hill Cos, Inc		1,268,825
3,486		Meredith Corp		191,660
11,963	e	New York Times Co (Class A)		209,711
19,395		R.R. Donnelley & Sons Co		731,967
800		Washington Post Co (Class B)		633,144
		TOTAL PRINTING AND PUBLISHING		4,145,755
RAILROAD TRANSPORTATION - 0.72%
25,929		Burlington Northern Santa Fe Corp		2,158,071
36,648		CSX Corp		1,611,779
33,900		Norfolk Southern Corp		1,709,916
22,932		Union Pacific Corp		2,880,718
		TOTAL RAILROAD TRANSPORTATION		8,360,484

155

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
REAL ESTATE - 0.03%
17,000	*	CB Richard Ellis Group, Inc (Class A)	$	366,350
		TOTAL REAL ESTATE		366,350
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.31%
20,804	*	Goodyear Tire & Rubber Co		587,089
23,787		Newell Rubbermaid, Inc		615,608
33,032		Nike, Inc (Class B)		2,121,976
14,796		Sealed Air Corp		342,379
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		3,667,052
SECURITY AND COMMODITY BROKERS - 2.95%
20,306		Ameriprise Financial, Inc		1,119,064
9,783		Bear Stearns Cos, Inc		863,350
81,769		Charles Schwab Corp		2,089,198
4,674		CME Group, Inc		3,206,364
37,811	e*	E*Trade Financial Corp		134,229
7,516		Federated Investors, Inc (Class B)		309,359
13,974		Franklin Resources, Inc		1,599,045
34,681		Goldman Sachs Group, Inc		7,458,149
5,900	*	IntercontinentalExchange, Inc		1,135,750
13,386		Janus Capital Group, Inc		439,730
11,409		Legg Mason, Inc		834,568
45,774		Lehman Brothers Holdings, Inc		2,995,451
74,407		Merrill Lynch & Co, Inc		3,994,168
92,333		Morgan Stanley		4,903,806
23,000		NYSE Euronext		2,018,710
22,871		T Rowe Price Group, Inc		1,392,386
		TOTAL SECURITY AND COMMODITY BROKERS		34,493,327
STONE, CLAY, AND GLASS PRODUCTS - 0.45%
61,786		3M Co		5,209,796
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		5,209,796
TOBACCO PRODUCTS - 1.33%
183,217		Altria Group, Inc		13,847,541
14,761		Reynolds American, Inc		973,636
13,303		UST, Inc		729,004
		TOTAL TOBACCO PRODUCTS		15,550,181
TRANSPORTATION BY AIR - 0.27%
26,609		FedEx Corp		2,372,725
65,241		Southwest Airlines Co		795,940
		TOTAL TRANSPORTATION BY AIR		3,168,665
TRANSPORTATION EQUIPMENT - 2.69%
67,655		Boeing Co		5,917,106
8,063		Brunswick Corp		137,474
181,316	e*	Ford Motor Co		1,220,257
35,019		General Dynamics Corp		3,116,341
48,871		General Motors Corp		1,216,399
14,584		Genuine Parts Co		675,239
10,653		Goodrich Corp		752,208

156

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
21,103		Harley-Davidson, Inc	$	985,721
15,642		ITT Industries, Inc		1,032,998
30,017		Lockheed Martin Corp		3,159,589
29,483		Northrop Grumman Corp		2,318,543
32,146		Paccar, Inc		1,751,314
12,161	*	Pactiv Corp		323,847
37,672		Raytheon Co		2,286,690
86,041		United Technologies Corp		6,585,578
		TOTAL TRANSPORTATION EQUIPMENT		31,479,304
TRANSPORTATION SERVICES - 0.14%
14,900		CH Robinson Worldwide, Inc		806,388
18,400		Expeditors International Washington, Inc		822,112
		TOTAL TRANSPORTATION SERVICES		1,628,500
TRUCKING AND WAREHOUSING - 0.55%
91,404		United Parcel Service, Inc (Class B)		6,464,091
		TOTAL TRUCKING AND WAREHOUSING		6,464,091
WATER TRANSPORTATION - 0.14%
37,615		Carnival Corp		1,673,491
		TOTAL WATER TRANSPORTATION		1,673,491
WHOLESALE TRADE-DURABLE GOODS - 0.08%
12,557	*	Patterson Cos, Inc		426,310
5,948		W.W. Grainger, Inc		520,569
		TOTAL WHOLESALE TRADE-DURABLE GOODS		946,879
WHOLESALE TRADE-NONDURABLE GOODS - 0.37%
7,955		Brown-Forman Corp (Class B)		589,545
31,473		Cardinal Health, Inc		1,817,566
11,214		Dean Foods Co		289,994
52,615		Sysco Corp		1,642,114
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		4,339,219
		TOTAL COMMON STOCKS		1,161,967,953
		(Cost $1,004,721,677)
SHORT-TERM INVESTMENTS - 0.55%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.47%
$        5,500,000		Federal Home Loan Bank (FHLB) 0.000%, 01/02/08		5,500,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		5,500,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.08%
976,123		State Street Navigator Securities Lending Prime Portfolio		976,123
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		976,123
		TOTAL SHORT-TERM INVESTMENTS		6,476,123
		(Cost $6,475,626)

157

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
				VALUE
		TOTAL PORTFOLIO - 100.02%	$	1,168,444,076
		(Cost $1,011,197,303)
		OTHER ASSETS & LIABILITIES, NET - (0.02)%		(272,390	)
		NET ASSETS - 100.00%	$	1,168,171,686
		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 $31,705,378.
	e	All or a portion of these securities are out on loan.
		At December 31, 2007, the unrealized appreciation on investments was $157,246,773, consisting of
		gross unrealized appreciation of $227,862,244 and gross unrealized depreciation of $70,615,471.

158

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.32%
AMUSEMENT AND RECREATION SERVICES - 0.88%
8,277	*	Activision, Inc	$	245,827
3,132		Harrah's Entertainment, Inc		277,965
2,147	e*	Penn National Gaming, Inc		127,854
513		Warner Music Group Corp		3,109
		TOTAL AMUSEMENT AND RECREATION SERVICES		654,755
APPAREL AND ACCESSORY STORES - 1.50%
2,559	e	Abercrombie & Fitch Co (Class A)		204,643
5,408		American Eagle Outfitters, Inc		112,324
1,560	*	AnnTaylor Stores Corp		39,874
5,259	e*	Chico's FAS, Inc		47,489
2,814	*	Hanesbrands, Inc		76,456
9,292	e	Limited Brands, Inc		175,898
7,134		Nordstrom, Inc		262,032
4,049		Ross Stores, Inc		103,533
3,302	e*	Urban Outfitters, Inc		90,013
		TOTAL APPAREL AND ACCESSORY STORES		1,112,262
APPAREL AND OTHER TEXTILE PRODUCTS - 0.32%
1,627	e	Guess ?, Inc		61,647
180		Liz Claiborne, Inc		3,663
1,653		Phillips-Van Heusen Corp		60,930
1,790	e	Polo Ralph Lauren Corp		110,604
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		236,844
AUTO REPAIR, SERVICES AND PARKING - 0.13%
6,110	e*	Hertz Global Holdings, Inc		97,088
		TOTAL AUTO REPAIR, SERVICES AND PARKING		97,088
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.80%
3,105		Advance Auto Parts		117,959
1,354	*	Autozone, Inc		162,358
6,304	*	Carmax, Inc		124,504
1,886	*	Copart, Inc		80,249
3,333	e*	O'Reilly Automotive, Inc		108,089
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		593,159
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.20%
3,695		Fastenal Co		149,352
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		149,352
BUSINESS SERVICES - 9.98%
836	e	Aircastle Ltd		22,012
1,877	e	Acxiom Corp		22,017
1,154	e*	Affiliated Computer Services, Inc (Class A)		52,045

159

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,813	*	Akamai Technologies, Inc	$	166,530
2,294	*	Alliance Data Systems Corp		172,027
5,755	*	Amdocs Ltd		198,375
6,741	*	Autodesk, Inc		335,432
1,035	*	Avis Budget Group, Inc		13,455
11,437	e*	BEA Systems, Inc		180,476
5,858	e*	BMC Software, Inc		208,779
1,286		Brink's Co		76,826
7,519	e	CA, Inc		187,599
2,154	e*	Cadence Design Systems, Inc		36,640
1,919	e*	Cerner Corp		108,232
2,165	*	ChoicePoint, Inc		78,849
5,579	*	Citrix Systems, Inc		212,058
1,200	*	Clear Channel Outdoor Holdings, Inc (Class A)		33,192
8,406	e*	Cognizant Technology Solutions Corp (Class A)		285,300
7,324	*	Compuware Corp		65,037
1,573	*	DST Systems, Inc		129,851
9,098	*	Electronic Arts, Inc		531,414
8,613	e	Electronic Data Systems Corp		178,547
3,850	e	Equifax, Inc		139,986
2,436	*	F5 Networks, Inc		69,475
1,265	e	Factset Research Systems, Inc		70,461
148	e	Fair Isaac Corp		4,758
4,738		Fidelity National Information Services, Inc		197,053
4,918	e*	Fiserv, Inc		272,900
760	*	Getty Images, Inc		22,040
5,352	e*	HLTH Corp		71,717
5,121		IMS Health, Inc		117,988
8,563	e*	Interpublic Group of Cos, Inc		69,446
9,845	e*	Intuit, Inc		311,200
5,167	*	Iron Mountain, Inc		191,282
10,773	*	Juniper Networks, Inc		357,664
1,269	*	Kinetic Concepts, Inc		67,968
2,410		Lamar Advertising Co (Class A)		115,849
2,467	e	Manpower, Inc		140,372
2,328		Mastercard, Inc (Class A)		500,986
4,658	e*	McAfee, Inc		174,675
2,556	e	MoneyGram International, Inc		39,286
3,669	*	Monster Worldwide, Inc		118,876
2,857	*	NAVTEQ Corp		215,989
584	e*	NCR Corp		14,658
1,413	*	Novell, Inc		9,707
5,647	e*	Red Hat, Inc		117,683
4,296		Robert Half International, Inc		116,164
2,775	e*	Salesforce.com, Inc		173,965
4,227	*	Synopsys, Inc		109,606
1,120	e	Total System Services, Inc		31,360
6,518	e*	VeriSign, Inc		245,142
260	e*	WebMD Health Corp (Class A)		10,678
		TOTAL BUSINESS SERVICES		7,393,627
CHEMICALS AND ALLIED PRODUCTS - 6.17%
790	*	APP Pharmaceuticals, Inc		8,113
197	*	Abraxis Bioscience, Inc		13,548

160

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,980	e	Air Products & Chemicals, Inc	$	293,917
2,326		Albemarle Corp		95,948
413		Alberto-Culver Co		10,135
2,653		Avery Dennison Corp		140,980
11,827	e	Avon Products, Inc		467,521
3,200	*	Barr Pharmaceuticals, Inc		169,920
1,466	e	Cabot Corp		48,876
2,438		Celanese Corp (Series A)		103,176
1,929	*	Cephalon, Inc		138,425
688	e*	Charles River Laboratories International, Inc		45,270
390		Chemtura Corp		3,042
1,849		Church & Dwight Co, Inc		99,975
3,717	e	Clorox Co		242,237
5,108		Ecolab, Inc		261,581
3,188		Estee Lauder Cos (Class A)		139,029
9,351	*	Forest Laboratories, Inc		340,844
4,578	*	Hospira, Inc		195,206
1,828	*	Idexx Laboratories, Inc		107,176
1,743	*	ImClone Systems, Inc		74,949
1,783		International Flavors & Fragrances, Inc		85,816
522	*	Invitrogen Corp		48,760
530		Lubrizol Corp		28,705
5,180	*	Millennium Pharmaceuticals, Inc		77,596
1,948	*	Mosaic Co		183,774
8,908	*	Mylan Laboratories, Inc		125,246
1,696	*	NBTY, Inc		46,470
4,210		Nalco Holding Co		101,798
3,399	*	PDL BioPharma, Inc		59,550
3,029		RPM International, Inc		61,489
2,200		Rohm & Haas Co		116,754
212		Scotts Miracle-Gro Co (Class A)		7,933
3,124	e*	Sepracor, Inc		82,005
3,243	e	Sherwin-Williams Co		188,224
1,179		Sigma-Aldrich Corp		64,373
2,457	*	VCA Antech, Inc		108,673
291	e	Valspar Corp		6,559
3,823	*	Vertex Pharmaceuticals, Inc		88,808
2,622	e*	Warner Chilcott Ltd (Class A)		46,488
1,703	*	Watson Pharmaceuticals, Inc		46,219
		TOTAL CHEMICALS AND ALLIED PRODUCTS		4,575,108
COAL MINING - 1.52%
4,164		Arch Coal, Inc		187,089
5,319		Consol Energy, Inc		380,415
2,382		Massey Energy Co		85,157
7,740		Peabody Energy Corp		477,094
		TOTAL COAL MINING		1,129,755
COMMUNICATIONS - 3.65%
12,210	*	American Tower Corp (Class A)		520,146
1,584	*	CTC Media, Inc		47,837
2,169	e	Cablevision Systems Corp (Class A)		53,141
911	*	Central European Media Enterprises Ltd (Class A)		105,658
1,660		Citizens Communications Co		21,132

161

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,545	*	Crown Castle International Corp	$	230,672
6,087	e*	EchoStar Communications Corp (Class A)		229,602
2,360	e	Global Payments, Inc		109,787
305	*	IAC/InterActiveCorp		8,211
1,490	*	Leap Wireless International, Inc		69,494
44,713	e*	Level 3 Communications, Inc		135,928
5,687	e*	Liberty Global, Inc (Class A)		222,874
10,746	e*	Liberty Media Holding Corp (Interactive A)		205,034
1,692	*	MetroPCS Communications, Inc		32,909
5,045	*	NII Holdings, Inc		243,774
2,246	*	NeuStar, Inc (Class A)		64,415
3,000	*	SBA Communications Corp (Class A)		101,520
1,363		Telephone & Data Systems, Inc		85,324
147	*	US Cellular Corp		12,363
7,695		Windstream Corp		100,189
8,335	*	XM Satellite Radio Holdings, Inc (Class A)		102,020
		TOTAL COMMUNICATIONS		2,702,030
DEPOSITORY INSTITUTIONS - 1.04%
434		Bank of Hawaii Corp		22,195
505		Capitol Federal Financial		15,655
1,545		Commerce Bancorp, Inc		58,926
6,323		Hudson City Bancorp, Inc		94,971
5,441		Northern Trust Corp		416,672
4,438		People's United Financial, Inc		78,996
3,084		Synovus Financial Corp		74,263
460	e*	TFS Financial Corp		5,492
		TOTAL DEPOSITORY INSTITUTIONS		767,170
EATING AND DRINKING PLACES - 1.53%
1,823		Burger King Holdings, Inc		51,974
3,100	e	Brinker International, Inc		60,636
4,132	e	Darden Restaurants, Inc		114,498
2,020	e*	Cheesecake Factory		47,894
5,528		Tim Hortons, Inc		204,149
2,554		Wendy's International, Inc		65,995
15,310	e	Yum! Brands, Inc		585,914
		TOTAL EATING AND DRINKING PLACES		1,131,060
EDUCATIONAL SERVICES - 0.63%
4,225	*	Apollo Group, Inc (Class A)		296,384
2,808	e*	Career Education Corp		70,593
1,187	e*	ITT Educational Services, Inc		101,215
		TOTAL EDUCATIONAL SERVICES		468,192
ELECTRIC, GAS, AND SANITARY SERVICES - 4.44%
19,515	*	AES Corp		417,426
4,843	e	Allegheny Energy, Inc		308,063
1,366	*	Allied Waste Industries, Inc		15,053
233		Aqua America, Inc		4,940
9,371		Centerpoint Energy, Inc		160,525
4,091		Constellation Energy Group, Inc		419,450
3,507	*	Covanta Holding Corp		97,004
1,782		DPL, Inc		52,836

162

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,752	*	Dynegy, Inc (Class A)	$	12,509
5,117	e*	Mirant Corp		199,461
5,695	*	NRG Energy, Inc		246,821
8,414		PPL Corp		438,285
1,721		Questar Corp		93,106
4,341		Republic Services, Inc		136,090
983	e	Sierra Pacific Resources		16,691
2,558	*	Stericycle, Inc		151,945
14,649		Williams Cos, Inc		524,141
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		3,294,346
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.62%
500	e	AVX Corp		6,710
7,221	*	Advanced Micro Devices, Inc		54,158
9,899		Altera Corp		191,249
3,112	e	Ametek, Inc		145,766
5,226		Amphenol Corp (Class A)		242,330
9,561		Analog Devices, Inc		303,084
2,564	e*	Avnet, Inc		89,663
13,692	*	Broadcom Corp (Class A)		357,909
2,487	*	Ciena Corp		84,832
1,723		Cooper Industries Ltd (Class A)		91,112
685	e*	Cree, Inc		18,817
4,682	*	Cypress Semiconductor Corp		168,692
1,150	*	Dolby Laboratories, Inc (Class A)		57,178
485		Eaton Corp		47,021
1,182	*	Energizer Holdings, Inc		132,538
1,535	*	Fairchild Semiconductor International, Inc		22,150
1,066	*	First Solar, Inc		284,771
1,782		Harman International Industries, Inc		131,351
3,927	e	Harris Corp		246,144
1,994	e*	Integrated Device Technology, Inc		22,552
425	e*	International Rectifier Corp		14,437
2,198	e	Intersil Corp (Class A)		53,807
3,417	*	JDS Uniphase Corp		45,446
1,074	e*	Jarden Corp		25,357
1,221		L-3 Communications Holdings, Inc		129,353
12,251	e*	LSI Logic Corp		65,053
870		Lincoln Electric Holdings, Inc		61,927
6,491	e	Linear Technology Corp		206,609
6,554	*	MEMC Electronic Materials, Inc		579,963
13,798	*	Marvell Technology Group Ltd		192,896
6,380	e	Microchip Technology, Inc		200,460
7,001	*	Micron Technology, Inc		50,757
2,327	e	Molex, Inc		63,527
7,889		National Semiconductor Corp		178,607
10,836	*	Network Appliance, Inc		270,467
2,392	*	Novellus Systems, Inc		65,947
15,909	*	Nvidia Corp		541,224
3,997	*	QLogic Corp		56,757
2,772		RadioShack Corp		46,736
2,384	*	Rambus, Inc		49,921
3,062	*	Sanmina-SCI Corp		5,573
1,601	e*	Silicon Laboratories, Inc		59,925

163

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
42,607	e*	Sirius Satellite Radio, Inc	$	129,099
725	*	Sunpower Corp (Class A)		94,533
1,700	e*	Thomas & Betts Corp		83,368
2,291	*	Varian Semiconductor Equipment Associates, Inc		84,767
1,082	*	Vishay Intertechnology, Inc		12,346
1,651		Whirlpool Corp		134,771
8,706	e	Xilinx, Inc		190,400
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		6,392,060
ENGINEERING AND MANAGEMENT SERVICES - 2.99%
3,845	*	Amylin Pharmaceuticals, Inc		142,265
1,091	e	Corporate Executive Board Co		65,569
2,570	e	Fluor Corp		374,500
1,533	*	Gen-Probe, Inc		96,472
970	*	Genpact Ltd		14,773
1,790	*	Hewitt Associates, Inc (Class A)		68,539
3,477	*	Jacobs Engineering Group, Inc		332,436
6,504	*	McDermott International, Inc		383,931
9,917	e	Paychex, Inc		359,194
4,232	e	Quest Diagnostics, Inc		223,873
2,157	*	Shaw Group, Inc		130,369
489	e*	URS Corp		26,567
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		2,218,488
FABRICATED METAL PRODUCTS - 0.52%
835	*	Alliant Techsystems, Inc		94,990
2,982		Ball Corp		134,190
4,775	*	Crown Holdings, Inc		122,479
765		Stanley Works		37,087
		TOTAL FABRICATED METAL PRODUCTS		388,746
FOOD AND KINDRED PRODUCTS - 1.73%
3,846	e	Campbell Soup Co		137,418
5,228	e	H.J. Heinz Co		244,043
1,988	e*	Hansen Natural Corp		88,049
3,469		Hershey Co		136,679
2,559		McCormick & Co, Inc		97,012
1,009		Pepsi Bottling Group, Inc		39,815
11,225		Sara Lee Corp		180,274
6,166		Wrigley (Wm.) Jr Co		361,019
		TOTAL FOOD AND KINDRED PRODUCTS		1,284,309
FOOD STORES - 0.27%
805	*	Panera Bread Co (Class A)		28,835
4,131	e	Whole Foods Market, Inc		168,545
		TOTAL FOOD STORES		197,380
FORESTRY - 0.01%
198		Rayonier, Inc		9,354
		TOTAL FORESTRY		9,354
FURNITURE AND FIXTURES - 0.11%
1,401		HNI Corp		49,119
343		Hillenbrand Industries, Inc		19,115

164

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
568		Masco Corp	$	12,274
		TOTAL FURNITURE AND FIXTURES		80,508
FURNITURE AND HOME FURNISHINGS STORES - 0.85%
8,097	*	Bed Bath & Beyond, Inc		237,971
2,314	e	Circuit City Stores, Inc		9,719
4,598	*	GameStop Corp (Class A)		285,582
1,908		Steelcase, Inc (Class A)		30,280
2,693	e	Williams-Sonoma, Inc		69,749
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		633,301
GENERAL BUILDING CONTRACTORS - 0.08%
159	e	Centex Corp		4,016
60	*	NVR, Inc		31,440
2,187		Pulte Homes, Inc		23,051
		TOTAL GENERAL BUILDING CONTRACTORS		58,507
GENERAL MERCHANDISE STORES - 1.19%
3,175	e*	Big Lots, Inc		50,768
4,398	e	Family Dollar Stores, Inc		84,574
6,594		JC Penney Co, Inc		290,070
3,465	e	Saks, Inc		71,933
13,287		TJX Cos, Inc		381,736
		TOTAL GENERAL MERCHANDISE STORES		879,081
HEALTH SERVICES - 3.27%
2,260	e	AmerisourceBergen Corp		101,406
337		Brookdale Senior Living, Inc		9,574
8,414	e	Cigna Corp		452,084
213	e*	Community Health Systems, Inc		7,851
1,853	e*	Covance, Inc		160,507
4,266	e*	Coventry Health Care, Inc		252,761
3,077	e*	DaVita, Inc		173,389
1,681	e*	Edwards Lifesciences Corp		77,309
6,424	*	Express Scripts, Inc		468,952
3,433	*	Laboratory Corp of America Holdings		259,294
2,468	*	Lincare Holdings, Inc		86,775
382		Omnicare, Inc		8,713
1,420	*	Pediatrix Medical Group, Inc		96,773
3,042		Pharmaceutical Product Development, Inc		122,806
1,679	*	Sierra Health Services, Inc		70,451
11,172	e*	Tenet Healthcare Corp		56,754
371		Universal Health Services, Inc (Class B)		18,995
		TOTAL HEALTH SERVICES		2,424,394
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.43%
2,058	*	Foster Wheeler Ltd		319,031
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		319,031
HOLDING AND OTHER INVESTMENT OFFICES - 5.16%
864	*	Affiliated Managers Group, Inc		101,485
130	e	Apartment Investment & Management Co (Class A)		4,515
3,115		Duke Realty Corp		81,239
315		Essex Property Trust, Inc		30,709

165

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
869		Federal Realty Investment Trust	$	71,388
3,488		General Growth Properties, Inc		143,636
246		Health Care REIT, Inc		10,994
925		Kilroy Realty Corp		50,838
2,091		Macerich Co		148,586
383		Plum Creek Timber Co, Inc		17,633
6,557		Prologis		415,583
300		Public Storage, Inc		22,023
893		Taubman Centers, Inc		43,927
3,951		UDR, Inc		78,427
3,888		Ventas, Inc		175,932
1,762	e	WABCO Holdings, Inc		88,259
2,251		Weingarten Realty Investors		70,771
19,930		iShares Russell Midcap Growth Index Fund		2,270,824
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		3,826,769
HOTELS AND OTHER LODGING PLACES - 0.82%
1,685		Boyd Gaming Corp		57,408
998		Choice Hotels International, Inc		33,134
1,168	e	Orient-Express Hotels Ltd (Class A)		67,183
5,881		Starwood Hotels & Resorts Worldwide, Inc		258,940
406	e	Wyndham Worldwide Corp		9,565
1,594	e	Wynn Resorts Ltd		178,735
		TOTAL HOTELS AND OTHER LODGING PLACES		604,965
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.21%
1,763	*	AGCO Corp		119,849
996		Black & Decker Corp		69,371
11,664	e*	Brocade Communications Systems, Inc		85,614
518	e	Carlisle Cos, Inc		19,182
3,048		Cummins, Inc		388,224
1,930	e	Diebold, Inc		55,931
2,319	e	Donaldson Co, Inc		107,555
1,920	e	Dover Corp		88,493
2,507	*	Dresser-Rand Group, Inc		97,898
3,794	*	FMC Technologies, Inc		215,120
1,495		Flowserve Corp		143,819
1,854	e	Graco, Inc		69,080
3,720	*	Grant Prideco, Inc		206,497
2,376		IDEX Corp		85,845
550		Ingersoll-Rand Co Ltd (Class A)		25,559
9,712		International Game Technology		426,648
3,367		Jabil Circuit, Inc		51,414
3,171		Joy Global, Inc		208,715
1,318		Kennametal, Inc		49,899
3,607	*	Lam Research Corp		155,931
200	e	Lennox International, Inc		8,284
1,505	*	Lexmark International, Inc (Class A)		52,464
3,638		Manitowoc Co, Inc		177,644
3,282		Pall Corp		132,330
562	*	Riverbed Technology, Inc		15,028
4,406		Rockwell Automation, Inc		303,838
3,961	e*	SanDisk Corp		131,386
1,902	*	Scientific Games Corp (Class A)		63,242

166

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
6,019		Seagate Technology, Inc	$	153,485
714	*	Teradata Corp		19,571
3,005	*	Terex Corp		197,038
1,196		Toro Co		65,110
5,267		Trane, Inc		246,022
3,720	*	Varian Medical Systems, Inc		194,035
1,820	*	VeriFone Holdings, Inc		42,315
1,988	*	Western Digital Corp		60,057
2,017	e*	Zebra Technologies Corp (Class A)		69,990
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		4,602,483
INSTRUMENTS AND RELATED PRODUCTS - 6.46%
3,368		Garmin Ltd		326,696
1,727	*	Advanced Medical Optics, Inc		42,363
11,794	*	Agilent Technologies, Inc		433,312
8,912	e	Allergan, Inc		572,507
955		Applera Corp (Applied Biosystems Group)		32,394
3,018		Bard (C.R.), Inc		286,106
1,466	e	Beckman Coulter, Inc		106,725
554	e	Cooper Cos, Inc		21,052
58		DRS Technologies, Inc		3,148
4,435		Dentsply International, Inc		199,664
1,093	*	Intuitive Surgical, Inc		354,679
5,600		Kla-Tencor Corp		269,696
1,107	*	Mettler-Toledo International, Inc		125,977
1,571	e*	Millipore Corp		114,966
1,680		National Instruments Corp		55,994
909		PerkinElmer, Inc		23,652
5,253	e	Pitney Bowes, Inc		199,824
2,291	e*	Resmed, Inc		120,346
2,150	*	Respironics, Inc		140,782
4,885		Rockwell Collins, Inc		351,573
2,580		Roper Industries, Inc		161,353
9,885	*	St. Jude Medical, Inc		401,726
1,190	e*	Techne Corp		78,599
2,747	*	Teradyne, Inc		28,404
3,484	*	Trimble Navigation Ltd		105,356
2,950	*	Waters Corp		233,257
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		4,790,151
INSURANCE AGENTS, BROKERS AND SERVICE - 0.13%
3,335		Brown & Brown, Inc		78,372
621	e	Gallagher (Arthur J.) & Co		15,022
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		93,394
INSURANCE CARRIERS - 1.14%
1,191		W.R. Berkley Corp		35,504
120		CNA Financial Corp		4,046
247	e	Erie Indemnity Co (Class A)		12,817
1,378		HCC Insurance Holdings, Inc		39,521
68		Hanover Insurance Group, Inc		3,114
3,275	*	Health Net, Inc		158,182
4,904	*	Humana, Inc		369,320
378		PartnerRe Ltd		31,196

167

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,311	*	Philadelphia Consolidated Holding Co	$	51,588
462		Principal Financial Group		31,804
278		Transatlantic Holdings, Inc		20,202
1,287	*	WellCare Health Plans, Inc		54,582
605	e	XL Capital Ltd (Class A)		30,438
		TOTAL INSURANCE CARRIERS		842,314
JUSTICE, PUBLIC ORDER AND SAFETY - 0.14%
3,578	*	Corrections Corp of America		105,587
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		105,587
LEATHER AND LEATHER PRODUCTS - 0.56%
2,336	e*	CROCS, Inc		85,988
10,848	e*	Coach, Inc		331,732
		TOTAL LEATHER AND LEATHER PRODUCTS		417,720
METAL MINING - 0.31%
1,195		Cleveland-Cliffs, Inc		120,456
1,354		Foundation Coal Holdings, Inc		71,085
843	*	Patriot Coal Corp		35,187
		TOTAL METAL MINING		226,728
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.19%
1,602		Hasbro, Inc		40,979
5,142		Mattel, Inc		97,904
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		138,883
MISCELLANEOUS RETAIL - 0.88%
157		Barnes & Noble, Inc		5,409
1,959	e*	Coldwater Creek, Inc		13,106
2,384	*	Dick's Sporting Goods, Inc		66,180
2,849	*	Dollar Tree Stores, Inc		73,846
1,366		MSC Industrial Direct Co (Class A)		55,282
1,096	e*	Nutri/System, Inc		29,570
8,015	e*	Office Depot, Inc		111,489
973	e	OfficeMax, Inc		20,102
3,970		Petsmart, Inc		93,414
3,981		Tiffany & Co		183,245
		TOTAL MISCELLANEOUS RETAIL		651,643
MOTION PICTURES - 0.25%
4,516	e*	Discovery Holding Co (Class A)		113,532
1,528	*	DreamWorks Animation SKG, Inc (Class A)		39,025
1,840		Regal Entertainment Group (Class A)		33,249
		TOTAL MOTION PICTURES		185,806
NONDEPOSITORY INSTITUTIONS - 0.81%
207	*	AmeriCredit Corp		2,648
2,227		CapitalSource, Inc		39,173
1,763	e	First Marblehead Corp		26,974
1,000	*	GLG Partners Inc		13,600
7,282		Textron, Inc		519,207
		TOTAL NONDEPOSITORY INSTITUTIONS		601,602

168

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
NONMETALLIC MINERALS, EXCEPT FUELS - 0.33%
3,046		Vulcan Materials Co	$	240,908
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		240,908
OIL AND GAS EXTRACTION - 7.54%
8,576	e	BJ Services Co		208,054
762	*	CNX Gas Corp		24,346
6,440	*	Cameron International Corp		309,957
1,234	*	Cheniere Energy, Inc		40,278
7,853		Chesapeake Energy Corp		307,838
370	*	Continental Resources, Inc		9,668
7,080	e*	Denbury Resources, Inc		210,630
1,985	e	Diamond Offshore Drilling, Inc		281,870
4,039		ENSCO International, Inc		240,805
2,700	e	Equitable Resources, Inc		143,856
2,739	*	Global Industries Ltd		58,669
2,152	*	Helix Energy Solutions Group, Inc		89,308
7,247	*	Nabors Industries Ltd		198,495
10,378	d*	National Oilwell Varco, Inc		762,368
7,830		Noble Corp		442,473
1,585	*	Oceaneering International, Inc		106,750
3,592	*	Pride International, Inc		121,769
1,472	*	Quicksilver Resources, Inc		87,716
4,323		Range Resources Corp		222,029
2,332	e	Rowan Cos, Inc		92,021
5,856		Smith International, Inc		432,466
4,961	*	Southwestern Energy Co		276,427
2,385	*	Superior Energy Services		82,092
2,195	*	Tetra Technologies, Inc		34,176
1,103		Tidewater, Inc		60,511
1,082	*	Unit Corp		50,042
558		W&T Offshore, Inc		16,718
9,856	*	Weatherford International Ltd		676,122
		TOTAL OIL AND GAS EXTRACTION		5,587,454
PAPER AND ALLIED PRODUCTS - 0.17%
6,640	e*	Domtar Corporation		51,062
2,709		Packaging Corp of America		76,394
		TOTAL PAPER AND ALLIED PRODUCTS		127,456
PERSONAL SERVICES - 0.44%
3,011		Cintas Corp		101,230
9,415	e	H&R Block, Inc		174,837
1,048	e	Weight Watchers International, Inc		47,349
		TOTAL PERSONAL SERVICES		323,416
PETROLEUM AND COAL PRODUCTS - 1.04%
2,832	e	Cabot Oil & Gas Corp		114,328
1,620	e	Frontier Oil Corp		65,740
1,344		Holly Corp		68,396
706		Noble Energy, Inc		56,141
330	*	SandRidge Energy, Inc		11,834
3,543	e	Sunoco, Inc		256,655
3,988		Tesoro Corp		190,228

169

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
453	e	Western Refining, Inc	$	10,967
		TOTAL PETROLEUM AND COAL PRODUCTS		774,289
PRIMARY METAL INDUSTRIES - 1.84%
3,245	*	AK Steel Holding Corp		150,049
2,983	e	Allegheny Technologies, Inc		257,731
876	e	Carpenter Technology Corp		65,849
1,790	*	CommScope, Inc		88,086
1,523	*	General Cable Corp		111,605
540	e	Hubbell, Inc (Class B)		27,864
4,023		Precision Castparts Corp		557,990
900	e	Steel Dynamics, Inc		53,613
1,991	e	Titanium Metals Corp		52,662
		TOTAL PRIMARY METAL INDUSTRIES		1,365,449
PRINTING AND PUBLISHING - 0.46%
1,732	e	Dun & Bradstreet Corp		153,507
1,116	e	Harte-Hanks, Inc		19,307
340	*	MSCI, Inc		13,056
1,405		Meredith Corp		77,247
1,058		New York Times Co (Class A)		18,547
1,466		John Wiley & Sons, Inc (Class A)		62,803
		TOTAL PRINTING AND PUBLISHING		344,467
RAILROAD TRANSPORTATION - 0.19%
2,185		CSX Corp		96,096
1,360	*	Kansas City Southern Industries, Inc		46,689
		TOTAL RAILROAD TRANSPORTATION		142,785
REAL ESTATE - 0.50%
5,700	e*	CB Richard Ellis Group, Inc (Class A)		122,835
2,100	e	Forest City Enterprises, Inc (Class A)		93,324
1,069		Jones Lang LaSalle, Inc		76,070
2,131	e*	St. Joe Co		75,672
		TOTAL REAL ESTATE		367,901
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.40%
6,126	*	Goodyear Tire & Rubber Co		172,876
4,214		Newell Rubbermaid, Inc		109,058
728		Sealed Air Corp		16,846
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		298,780
SECURITY AND COMMODITY BROKERS - 3.95%
4,097	e	Broadridge Financial Solutions, Inc		91,896
1,061	e	BlackRock, Inc		230,025
4,598	*	E*Trade Financial Corp		16,323
3,215	e	Eaton Vance Corp		145,993
2,552	e	Federated Investors, Inc (Class B)		105,040
2,057	e*	IntercontinentalExchange, Inc		395,972
9,600		Invesco Ltd		301,248
1,278	e*	Investment Technology Group, Inc		60,820
3,962		Janus Capital Group, Inc		130,152
1,495		Lazard Ltd (Class A)		60,817
1,570		Legg Mason, Inc		114,845

170

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,470	*	MF Global Ltd	$	46,261
2,631	*	Nasdaq Stock Market, Inc		130,208
2,686		Nymex Holdings, Inc		358,876
3,758		SEI Investments Co		120,895
7,757		T Rowe Price Group, Inc		472,246
7,240	e	TD Ameritrade Holding Corp		145,234
		TOTAL SECURITY AND COMMODITY BROKERS		2,926,851
SPECIAL TRADE CONTRACTORS - 0.17%
4,801	*	Quanta Services, Inc		125,978
		TOTAL SPECIAL TRADE CONTRACTORS		125,978
STONE, CLAY, AND GLASS PRODUCTS - 0.45%
1,327	e	Eagle Materials, Inc		47,082
4,165		Gentex Corp		74,012
4,235	*	Owens-Illinois, Inc		209,632
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		330,726
TOBACCO PRODUCTS - 0.41%
1,875		Loews Corp (Carolina Group)		159,937
2,579		UST, Inc		141,329
		TOTAL TOBACCO PRODUCTS		301,266
TRANSPORTATION BY AIR - 0.68%
7,026	e*	AMR Corp		98,575
2,837	*	Continental Airlines, Inc (Class B)		63,123
531		Copa Holdings S.A. (Class A)		19,950
7,919	*	Delta Air Lines, Inc		117,914
5,100	*	Northwest Airlines Corp		74,001
4,479		Southwest Airlines Co		54,644
2,020		UAL Corp		72,033
		TOTAL TRANSPORTATION BY AIR		500,240
TRANSPORTATION EQUIPMENT - 1.83%
1,400	e	Autoliv, Inc		73,794
2,692	*	BE Aerospace, Inc		142,407
3,654		Goodrich Corp		258,009
7,057	e	Harley-Davidson, Inc		329,632
2,455	e	Harsco Corp		157,292
650		ITT Industries, Inc		42,926
2,163	e	Oshkosh Truck Corp		102,223
3,806	*	Pactiv Corp		101,354
1,740	*	Spirit Aerosystems Holdings, Inc (Class A)		60,030
898		Thor Industries, Inc		34,133
2,003	e	Trinity Industries, Inc		55,603
		TOTAL TRANSPORTATION EQUIPMENT		1,357,403
TRANSPORTATION SERVICES - 0.84%
4,945		CH Robinson Worldwide, Inc		267,623
6,224	e	Expeditors International Washington, Inc		278,088
608		GATX Corp		22,301
2,946		UTI Worldwide, Inc		57,742
		TOTAL TRANSPORTATION SERVICES		625,754

171

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
TRUCKING AND WAREHOUSING - 0.24%
1,004	e	Con-way, Inc	$	41,706
2,489		J.B. Hunt Transport Services, Inc		68,572
1,624		Landstar System, Inc		68,452
		TOTAL TRUCKING AND WAREHOUSING		178,730
WATER TRANSPORTATION - 0.19%
1,420		Frontline Ltd		68,160
1,594	*	Kirby Corp		74,089
		TOTAL WATER TRANSPORTATION		142,249
WHOLESALE TRADE-DURABLE GOODS - 0.88%
2,028	e*	Arrow Electronics, Inc		79,660
678	e	BorgWarner, Inc		32,822
1,237	e	Martin Marietta Materials, Inc		164,026
4,063	*	Patterson Cos, Inc		137,939
1,421		Pool Corp		28,178
170		Reliance Steel & Aluminum Co		9,214
1,648		W.W. Grainger, Inc		144,233
1,324	e*	WESCO International, Inc		52,483
		TOTAL WHOLESALE TRADE-DURABLE GOODS		648,555
WHOLESALE TRADE-NONDURABLE GOODS - 0.85%
2,146		Airgas, Inc		111,828
1,229	e*	Bare Escentuals, Inc		29,803
1,602	e	Brown-Forman Corp (Class B)		118,724
230		Dean Foods Co		5,948
3,904	*	Endo Pharmaceuticals Holdings, Inc		104,120
2,597	e*	Henry Schein, Inc		159,456
1,540		Herbalife Ltd		62,031
1,032	*	Tractor Supply Co		37,090
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		629,000
		TOTAL COMMON STOCKS		73,617,609
		(Cost $61,690,338)
SHORT-TERM INVESTMENTS - 2.77%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.00%
$        740,000		Federal Home Loan Bank (FHLB), 01/02/08		740,000
				740,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.77%
1,311,653		State Street Navigator Securities Lending Prime Portfolio		1,311,653
				1,311,653
		TOTAL SHORT-TERM INVESTMENTS		2,051,653
		(Cost $2,051,586)
		TOTAL PORTFOLIO - 102.09%		75,669,262
		(Cost $63,741,924)

172

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
				VALUE
		OTHER ASSETS & LIABILITIES, NET - (2.09%)	$	(1,551,492	)
		NET ASSETS - 100.00%		$ 74,117,770
	*	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 $722,847.
	e	All or a portion of these securities are out on loan.
		At December 31, 2007, the unrealized appreciation on investments was $11,944,855, consisting of
		gross unrealized appreciation of $15,994,479 and gross unrealized depreciation of $4,049,624.

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)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.93%
AMUSEMENT AND RECREATION SERVICES - 0.46%
7,579		Harrah's Entertainment, Inc	$	672,636
3,146		International Speedway Corp (Class A)		129,552
1,687	e	Warner Music Group Corp		10,223
		TOTAL AMUSEMENT AND RECREATION SERVICES		812,411
APPAREL AND ACCESSORY STORES - 0.82%
1,229	*	AnnTaylor Stores Corp		31,413
14,804		Foot Locker, Inc		202,223
56,896		Gap, Inc		1,210,747
		TOTAL APPAREL AND ACCESSORY STORES		1,444,383
APPAREL AND OTHER TEXTILE PRODUCTS - 0.50%
8,191	e	Jones Apparel Group, Inc		130,974
9,259		Liz Claiborne, Inc		188,421
8,195		VF Corp		562,669
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		882,064
AUTO REPAIR, SERVICES AND PARKING - 0.24%
10,639	*	Hertz Global Holdings, Inc		169,054
5,540	e	Ryder System, Inc		260,435
		TOTAL AUTO REPAIR, SERVICES AND PARKING		429,489
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.17%
12,788	e*	Autonation, Inc		200,260
353	*	Copart, Inc		15,020
5,337	e	Penske Auto Group, Inc		93,184
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		308,464
BUSINESS SERVICES - 2.83%
5,134	*	Affiliated Computer Services, Inc (Class A)		231,543
6,022	e*	Avis Budget Group, Inc		78,286
14,723		CA, Inc		367,339
19,214	*	Cadence Design Systems, Inc		326,830
16,516	*	Computer Sciences Corp		817,047
5,345	*	Compuware Corp		47,464
13,053	*	Convergys Corp		214,852
20,378		Electronic Data Systems Corp		422,436
18,100	*	Expedia, Inc		572,322
4,928	e	Fair Isaac Corp		158,435
2,882		Fidelity National Information Services, Inc		119,862
2,435	*	Getty Images, Inc		70,615
1,856		IMS Health, Inc		42,762
17,123	*	Interpublic Group of Cos, Inc		138,868
13,780	*	Juniper Networks, Inc		457,496
859	e*	Kinetic Concepts, Inc		46,008
15,009	*	NCR Corp		376,726
28,928	*	Novell, Inc		198,735
33,157	*	Unisys Corp		156,833

174

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,181	*	United Rentals, Inc	$	150,203
		TOTAL BUSINESS SERVICES		4,994,662
CHEMICALS AND ALLIED PRODUCTS - 4.41%
10,926		Air Products & Chemicals, Inc		1,077,631
6,646		Alberto-Culver Co		163,093
1,377		Avery Dennison Corp		73,174
3,264		Avon Products, Inc		129,026
1,739		Cabot Corp		57,978
4,104		Celanese Corp (Series A)		173,681
4,125	*	Charles River Laboratories International, Inc		271,425
21,551		Chemtura Corp		168,098
329		Church & Dwight Co, Inc		17,789
1,037		Clorox Co		67,581
4,015		Cytec Industries, Inc		247,244
8,021	e	Eastman Chemical Co		490,003
7,302		FMC Corp		398,324
8,611	e	Huntsman Corp		221,303
2,089		International Flavors & Fragrances, Inc		100,544
2,677	*	Invitrogen Corp		250,059
21,994	*	King Pharmaceuticals, Inc		225,219
4,869		Lubrizol Corp		263,705
13,717	*	Millennium Pharmaceuticals, Inc		205,481
8,374	*	Mosaic Co		790,003
15,541		PPG Industries, Inc		1,091,444
5,976	e	Rohm & Haas Co		317,146
1,501		RPM International, Inc		30,470
3,380	e	Scotts Miracle-Gro Co (Class A)		126,480
8,739		Sigma-Aldrich Corp		477,149
8,623	e	Valspar Corp		194,362
4,096	*	Watson Pharmaceuticals, Inc		111,165
1,760	e	Westlake Chemical Corp		33,422
		TOTAL CHEMICALS AND ALLIED PRODUCTS		7,772,999
COMMUNICATIONS - 3.91%
14,087		Cablevision Systems Corp (Class A)		345,132
278	e*	Central European Media Enterprises Ltd (Class A)		32,242
10,443		CenturyTel, Inc		432,967
26,902	e	Citizens Communications Co		342,462
2,057	e*	Clearwire Corp (Class A)		28,201
4,023	*	Crown Castle International Corp		167,357
14,404		Embarq Corp		713,430
2,230	e	Hearst-Argyle Television, Inc		49,305
15,483	e*	IAC/InterActiveCorp		416,802
17,974	e*	Liberty Global, Inc (Class A)		704,401
12,302	e*	Liberty Media Corp - Capital (Series A)		1,433,060
23,872	*	Liberty Media Holding Corp (Interactive A)		455,478
153,395	e	Qwest Communications International, Inc		1,075,299
5,399		Telephone & Data Systems, Inc		337,977
1,076	*	US Cellular Corp		90,492
20,385		Windstream Corp		265,413
		TOTAL COMMUNICATIONS		6,890,018
DEPOSITORY INSTITUTIONS - 6.29%
12,160	e	Associated Banc-Corp		329,414
8,277		Astoria Financial Corp		192,606
7,837		Bancorpsouth, Inc		185,032

175

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,133		Bank of Hawaii Corp	$	160,222
2,122		BOK Financial Corp		109,707
600	e	Capitol Federal Financial		18,600
3,902		City National Corp		232,364
15,155	e	Colonial Bancgroup, Inc		205,199
14,869		Comerica, Inc		647,248
13,010		Commerce Bancorp, Inc		496,201
6,891	e	Commerce Bancshares, Inc		309,130
5,722		Cullen/Frost Bankers, Inc		289,877
6,015	e	East West Bancorp, Inc		145,743
541		First Citizens Bancshares, Inc (Class A)		78,905
11,990	e	First Horizon National Corp		217,619
16,512	e	Fulton Financial Corp		185,265
31,249		Hudson City Bancorp, Inc		469,360
34,834	e	Huntington Bancshares, Inc		514,150
7,674	e	IndyMac Bancorp, Inc		45,660
37,405		Keycorp		877,147
6,535	e	M&T Bank Corp		533,060
24,705		Marshall & Ilsley Corp		654,188
8,235	*	Metavante Technologies, Inc		192,040
30,660	e	New York Community Bancorp, Inc		539,003
3,180		Northern Trust Corp		243,524
6,109	e	People's United Financial, Inc		108,740
26,636		Popular, Inc		282,342
40,881		Sovereign Bancorp, Inc		466,043
16,471		Synovus Financial Corp		396,622
12,331	e	TCF Financial Corp		221,095
8,257	e*	TFS Financial Corp		98,589
4,490		UnionBanCal Corp		219,606
11,475	e	Valley National Bancorp		218,714
8,306		Washington Federal, Inc		175,340
5,186		Webster Financial Corp		165,796
6,441	e	Whitney Holding Corp		168,432
6,553	e	Wilmington Trust Corp		230,666
10,307		Zions Bancorporation		481,234
		TOTAL DEPOSITORY INSTITUTIONS		11,104,483
ELECTRIC, GAS, AND SANITARY SERVICES - 14.91%
7,417		AGL Resources, Inc		279,176
10,845		Alliant Energy Corp		441,283
23,124	*	Allied Waste Industries, Inc		254,826
19,739		Ameren Corp		1,070,051
38,022		American Electric Power Co, Inc		1,770,304
11,783	e	Aqua America, Inc		249,800
8,467		Atmos Energy Corp		237,415
21,405		CMS Energy Corp		372,019
25,793	e	Consolidated Edison, Inc		1,259,988
3,851		Constellation Energy Group, Inc		394,843
5,004	e	DPL, Inc		148,369
15,603		DTE Energy Co		685,908
26,546	*	Dynegy, Inc (Class A)		189,538
31,065		Edison International		1,657,939
66,766		El Paso Corp		1,151,046
6,839		Energen Corp		439,269
15,068		Energy East Corp		410,000
8,200	e	Great Plains Energy, Inc		240,424
7,815	e	Hawaiian Electric Industries, Inc		177,948

176

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,216	e	Integrys Energy Group, Inc	$	372,995
17,337		MDU Resources Group, Inc		478,675
7,685	e*	Mirant Corp		299,561
7,959	e	National Fuel Gas Co		371,526
26,132		NiSource, Inc		493,633
14,736		Northeast Utilities		461,384
4,182	e*	NRG Energy, Inc		181,248
10,184	e	NSTAR		368,864
8,748		OGE Energy Corp		317,465
9,905		Oneok, Inc		443,447
18,410		Pepco Holdings, Inc		539,965
33,515		PG&E Corp		1,444,161
9,557		Pinnacle West Capital Corp		405,312
9,347		PPL Corp		486,885
24,586		Progress Energy, Inc		1,190,700
11,142		Puget Energy, Inc		305,625
10,817		Questar Corp		585,200
32,397	*	Reliant Energy, Inc		850,097
1,617		Republic Services, Inc		50,693
11,124		SCANA Corp		468,877
25,154		Sempra Energy		1,556,530
18,016		Sierra Pacific Resources		305,912
10,250		Southern Union Co		300,940
19,987	e	TECO Energy, Inc		343,976
10,129		UGI Corp		276,015
7,294	e	Vectren Corp		211,599
9,307		Williams Cos, Inc		333,004
11,151		Wisconsin Energy Corp		543,165
38,989		Xcel Energy, Inc		879,982
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		26,297,582
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 3.69%
11,181	e*	ADC Telecommunications, Inc		173,865
33,868	e*	Advanced Micro Devices, Inc		254,010
44,850	*	Atmel Corp		193,752
5,664	*	Avnet, Inc		198,070
3,868		AVX Corp		51,909
11,833		Cooper Industries Ltd (Class A)		625,729
5,806	e*	Cree, Inc		159,491
12,320		Eaton Corp		1,194,424
1,518	*	Energizer Holdings, Inc		170,213
6,937	*	Fairchild Semiconductor International, Inc		100,101
12,523	*	Integrated Device Technology, Inc		141,635
5,352	e*	International Rectifier Corp		181,807
5,837		Intersil Corp (Class A)		142,890
3,176	e*	Jarden Corp		74,985
8,872	e*	JDS Uniphase Corp		117,998
7,923		L-3 Communications Holdings, Inc		839,363
1,247		Lincoln Electric Holdings, Inc		88,761
27,743	e*	LSI Logic Corp		147,315
48,607	e*	Micron Technology, Inc		352,401
5,642		Molex, Inc		154,027
4,071	e*	Novellus Systems, Inc		112,237
1,432	*	QLogic Corp		20,334
3,852		RadioShack Corp		64,945
2,018	e*	Rambus, Inc		42,257
39,307	*	Sanmina-SCI Corp		71,539

177

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,596		Teleflex, Inc	$	226,584
41,740	*	Tellabs, Inc		272,980
14,650	*	Vishay Intertechnology, Inc		167,157
2,137		Whirlpool Corp		174,443
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		6,515,222
ENGINEERING AND MANAGEMENT SERVICES - 0.67%
503	*	Genpact Ltd		7,661
3,398	*	Hewitt Associates, Inc (Class A)		130,109
15,997	*	KBR, Inc		620,684
1,011		Quest Diagnostics, Inc		53,482
682	*	Shaw Group, Inc		41,220
5,942	*	URS Corp		322,829
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,175,985
FABRICATED METAL PRODUCTS - 1.50%
408	*	Alliant Techsystems, Inc		46,414
11,368		Commercial Metals Co		334,788
4,856		Crane Co		208,322
16,466		Parker Hannifin Corp		1,240,054
9,155		Pentair, Inc		318,686
5,296		Snap-On, Inc		255,479
5,150		Stanley Works		249,672
		TOTAL FABRICATED METAL PRODUCTS		2,653,415
FOOD AND KINDRED PRODUCTS - 4.83%
11,511		Bunge Ltd		1,339,996
9,504		Campbell Soup Co		339,578
29,715		Coca-Cola Enterprises, Inc		773,481
47,492		ConAgra Foods, Inc		1,129,835
18,277	*	Constellation Brands, Inc (Class A)		432,068
7,097		Corn Products International, Inc		260,815
19,251		Del Monte Foods Co		182,114
13,762		H.J. Heinz Co		642,410
4,722	e	Hershey Co		186,047
7,020		Hormel Foods Corp		284,170
5,398		J.M. Smucker Co		277,673
4,198		McCormick & Co, Inc		159,146
10,445		Molson Coors Brewing Co (Class B)		539,171
10,060		Pepsi Bottling Group, Inc		396,968
5,624		PepsiAmericas, Inc		187,392
33,283		Sara Lee Corp		534,525
10,408	e*	Smithfield Foods, Inc		300,999
25,190		Tyson Foods, Inc (Class A)		386,163
2,742		Wrigley (Wm.) Jr Co		160,544
		TOTAL FOOD AND KINDRED PRODUCTS		8,513,095
FOOD STORES - 1.24%
42,035		Safeway, Inc		1,438,017
20,033		Supervalu, Inc		751,638
		TOTAL FOOD STORES		2,189,655
FORESTRY - 0.19%
6,897		Rayonier, Inc		325,814
		TOTAL FORESTRY		325,814

178

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
FURNITURE AND FIXTURES - 0.73%
4,665		Hillenbrand Industries, Inc	$	259,980
16,853	e	Leggett & Platt, Inc		293,916
33,924	e	Masco Corp		733,098
		TOTAL FURNITURE AND FIXTURES		1,286,994
FURNITURE AND HOMEFURNISHINGS STORES - 0.26%
8,578	e	Circuit City Stores, Inc		36,028
5,250	*	Mohawk Industries, Inc		390,600
1,559		Steelcase, Inc (Class A)		24,741
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		451,369
GENERAL BUILDING CONTRACTORS - 1.00%
10,847	e	Centex Corp		273,995
29,721		DR Horton, Inc		391,426
7,269	e	KB Home		157,010
12,920	e	Lennar Corp (Class A)		231,139
3,205	e	MDC Holdings, Inc		119,002
231	e*	NVR, Inc		121,044
12,507	e	Pulte Homes, Inc		131,824
3,989	e	Ryland Group, Inc		109,897
12,018	e*	Toll Brothers, Inc		241,081
		TOTAL GENERAL BUILDING CONTRACTORS		1,776,418
GENERAL MERCHANDISE STORES - 0.20%
6,151	*	BJ's Wholesale Club, Inc		208,088
5,749	e	Dillard's, Inc (Class A)		107,966
1,746	e	Saks, Inc		36,247
		TOTAL GENERAL MERCHANDISE STORES		352,301
HEALTH SERVICES - 0.90%
8,960		AmerisourceBergen Corp		402,035
2,616	e	Brookdale Senior Living, Inc		74,321
8,343	e*	Community Health Systems, Inc		307,523
899	*	Coventry Health Care, Inc		53,266
23,103	e	Health Management Associates, Inc (Class A)		138,156
5,505	*	LifePoint Hospitals, Inc		163,719
10,186	e	Omnicare, Inc		232,343
10,226	e*	Tenet Healthcare Corp		51,948
3,138		Universal Health Services, Inc (Class B)		160,666
		TOTAL HEALTH SERVICES		1,583,977
HOLDING AND OTHER INVESTMENT OFFICES - 11.36%
14,519	e	Allied Capital Corp		312,159
9,499		AMB Property Corp		546,762
38,312		Annaly Mortgage Management, Inc		696,512
8,763	e	Apartment Investment & Management Co (Class A)		304,339
7,587		AvalonBay Communities, Inc		714,240
9,662		Boston Properties, Inc		887,068
8,248		Brandywine Realty Trust		147,887
4,834		BRE Properties, Inc (Class A)		195,922
5,418		Camden Property Trust		260,877
6,258		CBL & Associates Properties, Inc		149,629
4,432	e	Colonial Properties Trust		100,296
11,914		Developers Diversified Realty Corp		456,187
9,869	e	Douglas Emmett, Inc		223,138
3,795		Duke Realty Corp		98,974
25,825		Equity Residential		941,838

179

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,260	e	Essex Property Trust, Inc	$	122,837
2,585		Federal Realty Investment Trust		212,358
9,244		General Growth Properties, Inc		380,668
19,643		HCP, Inc		683,184
6,718		Health Care REIT, Inc		300,227
8,812		Hospitality Properties Trust		283,923
49,776		Host Marriott Corp		848,183
21,494		HRPT Properties Trust		166,149
35,315	e	iShares Russell Midcap Value Index Fund		4,981,534
12,220	e	iStar Financial, Inc		318,331
20,473		Kimco Realty Corp		745,217
8,741	e	Liberty Property Trust		251,828
6,476		Mack-Cali Realty Corp		220,184
15,407		Plum Creek Timber Co, Inc		709,338
3,058		Prologis		193,816
10,983		Public Storage, Inc		806,262
6,625		Regency Centers Corp		427,246
5,665		SL Green Realty Corp		529,451
2,266		Taubman Centers, Inc		111,465
12,462	e	Thornburg Mortgage, Inc		115,149
27,949	e	Virgin Media, Inc		479,046
12,706		Vornado Realty Trust		1,117,493
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		20,039,717
HOTELS AND OTHER LODGING PLACES - 0.22%
206	e	Orient-Express Hotels Ltd (Class A)		11,849
16,096		Wyndham Worldwide Corp		379,222
		TOTAL HOTELS AND OTHER LODGING PLACES		391,071
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.32%
2,817	*	AGCO Corp		191,500
2,923		Black & Decker Corp		203,587
4,309	e	Carlisle Cos, Inc		159,562
12,995		Dover Corp		598,940
574		Flowserve Corp		55,219
5,042	*	Gardner Denver, Inc		166,386
24,358		Ingersoll-Rand Co Ltd (Class A)		1,131,916
6,247		Jabil Circuit, Inc		95,392
2,896		Kennametal, Inc		109,643
4,583		Lennox International, Inc		189,828
4,112	*	Lexmark International, Inc (Class A)		143,344
1,034		Pall Corp		41,691
8,834	*	SanDisk Corp		293,024
32,192		Seagate Technology, Inc		820,896
4,972		SPX Corp		511,370
15,009	*	Teradata Corp		411,397
8,706		Timken Co		285,992
14,853	*	Western Digital Corp		448,709
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		5,858,396
INSTRUMENTS AND RELATED PRODUCTS - 1.90%
13,948		Applera Corp (Applied Biosystems Group)		473,116
1,085		Beckman Coulter, Inc		78,988
2,547	e	Cooper Cos, Inc		96,786
3,669		DRS Technologies, Inc		199,117
27,431	e	Eastman Kodak Co		599,916
8,553		PerkinElmer, Inc		222,549

180

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,812		Pitney Bowes, Inc	$	145,008
8,312	*	Teradyne, Inc		85,946
89,374		Xerox Corp		1,446,965
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		3,348,391
INSURANCE AGENTS, BROKERS AND SERVICE - 1.11%
27,995		AON Corp		1,335,082
7,314	e	Gallagher (Arthur J.) & Co		176,926
854		White Mountains Insurance Group Ltd		438,999
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		1,951,007
INSURANCE CARRIERS - 8.98%
463	*	Alleghany Corp		186,126
5,758		Allied World Assurance Holdings Ltd		288,879
9,352	e	Ambac Financial Group, Inc		241,001
7,746		American Financial Group, Inc		223,704
1,438		American National Insurance Co		174,343
4,669	*	Arch Capital Group Ltd		328,464
11,538	e	Assurant, Inc		771,892
14,659		Axis Capital Holdings Ltd		571,261
16,369		Cincinnati Financial Corp		647,230
2,583	e	CNA Financial Corp		87,099
17,983	*	Conseco, Inc		225,866
5,596		Endurance Specialty Holdings Ltd		233,521
3,445	e	Erie Indemnity Co (Class A)		178,761
6,024		Everest Re Group Ltd		604,810
21,134	e	Fidelity National Title Group, Inc (Class A)		308,768
8,865	e	First American Corp		302,474
41,464		Genworth Financial, Inc (Class A)		1,055,259
4,658		Hanover Insurance Group, Inc		213,336
6,070		HCC Insurance Holdings, Inc		174,088
15,633		Leucadia National Corp		736,314
935	*	Markel Corp		459,179
12,001	e	MBIA, Inc		223,579
2,300		Mercury General Corp		114,563
7,536	e	MGIC Investment Corp		169,032
5,046		Nationwide Financial Services, Inc (Class A)		227,120
22,063	e	Old Republic International Corp		339,991
2,597		OneBeacon Insurance Group Ltd		55,836
4,191		PartnerRe Ltd		345,883
1,233	*	Philadelphia Consolidated Holding Co		48,519
7,875	e	PMI Group, Inc		104,580
24,103		Principal Financial Group		1,659,251
6,681		Protective Life Corp		274,055
7,258	e	Radian Group, Inc		84,773
2,803		Reinsurance Group Of America, Inc		147,101
6,890		RenaissanceRe Holdings Ltd		415,054
8,992		Safeco Corp		500,675
4,968		Stancorp Financial Group, Inc		250,288
8,958		Torchmark Corp		542,228
1,647		Transatlantic Holdings, Inc		119,687
4,325	e	Unitrin, Inc		207,557
34,401		UnumProvident Corp		818,400
11,431		W.R. Berkley Corp		340,758
144		Wesco Financial Corp		58,608
15,655		XL Capital Ltd (Class A)		787,603
		TOTAL INSURANCE CARRIERS		15,847,516

181

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
LUMBER AND WOOD PRODUCTS - 0.08%
9,783	e	Louisiana-Pacific Corp	$	133,831
		TOTAL LUMBER AND WOOD PRODUCTS		133,831
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.99%
1,853	*	Armstrong World Industries, Inc		74,324
14,538		Fortune Brands, Inc		1,051,970
9,694		Hasbro, Inc		247,973
19,921		Mattel, Inc		379,296
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,753,563
MISCELLANEOUS RETAIL - 0.24%
4,470		Barnes & Noble, Inc		153,992
3,887		OfficeMax, Inc		80,305
64,903	e*	Rite Aid Corp		181,079
		TOTAL MISCELLANEOUS RETAIL		415,376
MOTION PICTURES - 0.20%
11,972	*	Discovery Holding Co (Class A)		300,976
1,416	*	DreamWorks Animation SKG, Inc (Class A)		36,165
1,356	e	Regal Entertainment Group (Class A)		24,503
		TOTAL MOTION PICTURES		361,644
NONDEPOSITORY INSTITUTIONS - 0.78%
17,919	e	American Capital Strategies Ltd		590,610
10,343	e*	AmeriCredit Corp		132,287
5,496	e	CapitalSource, Inc		96,675
18,286		CIT Group, Inc		439,413
800	*	GLG Partners Inc		10,880
3,362	*	Guaranty Financial Group, Inc		53,808
390	e	Student Loan Corp		42,900
		TOTAL NONDEPOSITORY INSTITUTIONS		1,366,573
OIL AND GAS EXTRACTION - 2.58%
18,306		Chesapeake Energy Corp		717,595
7,941	e	Cimarex Energy Co		337,731
1,500	e*	Continental Resources, Inc		39,195
964		ENSCO International, Inc		57,474
2,783		Equitable Resources, Inc		148,278
7,521	*	Forest Oil Corp		382,368
1,759	e*	Helix Energy Solutions Group, Inc		72,999
9,851		Helmerich & Payne, Inc		394,730
3,166	e*	Nabors Industries Ltd		86,717
14,942		Patterson-UTI Energy, Inc		291,668
11,770		Pioneer Natural Resources Co		574,847
10,640	*	Plains Exploration & Production Co		574,560
4,096	*	Pride International, Inc		138,854
3,017		Rowan Cos, Inc		119,051
2,305	e*	SEACOR Holdings, Inc		213,766
5,986		St. Mary Land & Exploration Co		231,119
1,773	e	Tidewater, Inc		97,267
895	*	Unit Corp		41,394
889	e	W&T Offshore, Inc		26,634
		TOTAL OIL AND GAS EXTRACTION		4,546,247

182

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
PAPER AND ALLIED PRODUCTS - 1.00%
9,852		Bemis Co	$	269,748
22,293	*	Domtar Corporation		171,433
17,586		MeadWestvaco Corp		550,442
24,316	*	Smurfit-Stone Container Corp		256,777
9,535		Sonoco Products Co		311,604
10,089		Temple-Inland, Inc		210,356
		TOTAL PAPER AND ALLIED PRODUCTS		1,770,360
PERSONAL SERVICES - 0.27%
3,081		Cintas Corp		103,583
26,860		Service Corp International		377,383
		TOTAL PERSONAL SERVICES		480,966
PETROLEUM AND COAL PRODUCTS - 3.68%
5,351		Ashland, Inc		253,798
5,024		Frontier Oil Corp		203,874
26,470		Hess Corp		2,669,764
17,937		Murphy Oil Corp		1,521,775
12,394	*	Newfield Exploration Co		653,164
13,936		Noble Energy, Inc		1,108,191
1,400	*	SandRidge Energy, Inc		50,204
1,158	e	Western Refining, Inc		28,035
		TOTAL PETROLEUM AND COAL PRODUCTS		6,488,805
PIPELINES, EXCEPT NATURAL GAS - 0.88%
60,243		Spectra Energy Corp		1,555,474
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,555,474
PRIMARY METAL INDUSTRIES - 1.18%
2,132		Carpenter Technology Corp		160,262
350	*	CommScope, Inc		17,224
3,782		Hubbell, Inc (Class B)		195,151
5,774	e	Steel Dynamics, Inc		343,957
11,281		United States Steel Corp		1,363,986
		TOTAL PRIMARY METAL INDUSTRIES		2,080,580
PRINTING AND PUBLISHING - 1.70%
8,587	e	EW Scripps Co (Class A)		386,501
22,307		Gannett Co, Inc		869,973
1,149	e	Harte-Hanks, Inc		19,878
4,586	e	McClatchy Co (Class A)		57,417
150	*	MSCI, Inc		5,760
10,202	e	New York Times Co (Class A)		178,841
6,770	e	R.H. Donnelley Corp		246,970
20,986		R.R. Donnelley & Sons Co		792,012
556		Washington Post Co (Class B)		440,035
		TOTAL PRINTING AND PUBLISHING		2,997,387
RAILROAD TRANSPORTATION - 0.91%
34,150	d	CSX Corp		1,501,917
2,922	*	Kansas City Southern Industries, Inc		100,312
		TOTAL RAILROAD TRANSPORTATION		1,602,229
REAL ESTATE - 0.04%
3,362	*	Forestar Real Estate Group, Inc		79,333
		TOTAL REAL ESTATE		79,333

183

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.36%
12,844		Newell Rubbermaid, Inc	$	332,403
13,278		Sealed Air Corp		307,253
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		639,656
SECURITY AND COMMODITY BROKERS - 2.04%
22,430		Ameriprise Financial, Inc		1,236,117
2,618	e	BlackRock, Inc		567,582
24,438	e*	E*Trade Financial Corp		86,755
7,900		Invesco Ltd		247,902
3,811		Janus Capital Group, Inc		125,191
11,960	e	Jefferies Group, Inc		275,678
7,389		Legg Mason, Inc		540,505
4,101	*	MF Global Ltd		129,058
1,996	e*	Nasdaq Stock Market, Inc		98,782
8,970		Raymond James Financial, Inc		292,960
		TOTAL SECURITY AND COMMODITY BROKERS		3,600,530
STONE, CLAY, AND GLASS PRODUCTS - 0.30%
10,513	e*	Owens Corning, Inc		212,573
930	*	Owens-Illinois, Inc		46,035
7,640	e*	USG Corp		273,436
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		532,044
TOBACCO PRODUCTS - 0.42%
4,208		Loews Corp (Carolina Group)		358,942
6,842		UST, Inc		374,942
		TOTAL TOBACCO PRODUCTS		733,884
TRANSPORTATION BY AIR - 0.61%
8,457	*	Northwest Airlines Corp		122,711
55,291		Southwest Airlines Co		674,550
4,485	e	UAL Corp		159,935
7,758	e*	US Airways Group, Inc		114,120
		TOTAL TRANSPORTATION BY AIR		1,071,316
TRANSPORTATION EQUIPMENT - 1.98%
3,097		Autoliv, Inc		163,243
8,291	e	Brunswick Corp		141,362
192,784	e*	Ford Motor Co		1,297,436
15,976		Genuine Parts Co		739,689
14,997		ITT Industries, Inc		990,402
1,350	*	Spirit Aerosystems Holdings, Inc (Class A)		46,575
276	e	Thor Industries, Inc		10,491
894	e	Trinity Industries, Inc		24,817
4,048	*	TRW Automotive Holdings Corp		84,603
		TOTAL TRANSPORTATION EQUIPMENT		3,498,618
TRANSPORTATION SERVICES - 0.06%
2,859		GATX Corp		104,868
		TOTAL TRANSPORTATION SERVICES		104,868
TRUCKING AND WAREHOUSING - 0.07%
889	e	Con-way, Inc		36,929
5,254	e*	YRC Worldwide, Inc		89,791
		TOTAL TRUCKING AND WAREHOUSING		126,720

184

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
WATER TRANSPORTATION - 0.66%
4,036		Alexander & Baldwin, Inc	$	208,500
3,048	e	Overseas Shipholding Group, Inc		226,863
12,701	e	Royal Caribbean Cruises Ltd		539,030
3,847	e	Teekay Corp		204,699
		TOTAL WATER TRANSPORTATION		1,179,092
WHOLESALE TRADE-DURABLE GOODS - 0.84%
5,315	*	Arrow Electronics, Inc		208,773
8,754		BorgWarner, Inc		423,781
13,832	*	Ingram Micro, Inc (Class A)		249,529
5,638		Reliance Steel & Aluminum Co		305,580
5,149	*	Tech Data Corp		194,220
1,127		W.W. Grainger, Inc		98,635
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,480,518
WHOLESALE TRADE-NONDURABLE GOODS - 0.41%
493		Airgas, Inc		25,690
2,113	e	Brown-Forman Corp (Class B)		156,594
11,577	e	Dean Foods Co		299,381
13,908	e	Idearc, Inc		244,217
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		725,882
		TOTAL COMMON STOCKS		174,522,394
		(Cost $176,688,620)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 18.66%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.94%
$        1,660,000		Federal Home Loan Bank (FHLB), 01/02/08		1,660,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		1,660,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 17.72%
31,265,897		State Street Navigator Securities Lending Prime Portfolio		31,265,897
		TOTAL SHORT -TERM INVESTMENTS		32,925,897
		(Cost $32,925,747)
		TOTAL PORTFOLIO - 117.59%		207,448,291
		(Cost $209,614,367)		(31,031,135	)
		OTHER ASSETS & LIABILITIES, NET - (17.59%)
			$	176,417,156
		NET ASSETS - 100.00%
	*	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 $104,511.
	e	All or a portion of these securities are out on loan.
		At December 31, 2007, the unrealized depreciation on investments was $2,166,076 consisting of
		gross unrealized appreciation of $19,043,020 and gross unrealized depreciation of $21,209,096.

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)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.32%
AMUSEMENT AND RECREATION SERVICES - 0.71%
12,365	*	Activision, Inc	$	367,241
8,138		Harrah's Entertainment, Inc		722,248
1,600		International Speedway Corp (Class A)		65,888
3,202	*	Penn National Gaming, Inc		190,679
2,083	e	Warner Music Group Corp		12,623
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,358,679
APPAREL AND ACCESSORY STORES - 1.22%
3,825		Abercrombie & Fitch Co (Class A)		305,885
8,102		American Eagle Outfitters, Inc		168,279
2,950	*	AnnTaylor Stores Corp		75,402
7,685	*	Chico's FAS, Inc		69,396
6,862		Foot Locker, Inc		93,735
26,166		Gap, Inc		556,812
4,201	*	Hanesbrands, Inc		114,141
13,897		Limited Brands, Inc		263,070
10,656		Nordstrom, Inc		391,395
6,029		Ross Stores, Inc		154,162
4,934	*	Urban Outfitters, Inc		134,501
		TOTAL APPAREL AND ACCESSORY STORES		2,326,778
APPAREL AND OTHER TEXTILE PRODUCTS - 0.41%
2,373		Guess ?, Inc		89,913
4,836	e	Jones Apparel Group, Inc		77,328
4,560		Liz Claiborne, Inc		92,796
2,341		Phillips-Van Heusen Corp		86,289
2,673		Polo Ralph Lauren Corp		165,165
3,927		VF Corp		269,628
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		781,119
AUTO REPAIR, SERVICES AND PARKING - 0.18%
13,989	*	Hertz Global Holdings, Inc		222,285
2,667		Ryder System, Inc		125,376
		TOTAL AUTO REPAIR, SERVICES AND PARKING		347,661
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.55%
4,647		Advance Auto Parts		176,540
6,843	*	Autonation, Inc		107,161
2,020	*	Autozone, Inc		242,218
9,440	e*	Carmax, Inc		186,440
2,952	*	Copart, Inc		125,608
4,979	*	O'Reilly Automotive, Inc		161,469
2,562		Penske Auto Group, Inc		44,733
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,044,169
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.12%
5,514		Fastenal Co		222,876
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		222,876

186

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
BUSINESS SERVICES - 6.99%
2,655		Acxiom Corp	$	31,143
4,040	*	Affiliated Computer Services, Inc (Class A)		182,204
1,090	e	Aircastle Ltd		28,700
7,197	*	Akamai Technologies, Inc		249,016
3,432	*	Alliance Data Systems Corp		257,366
8,626	*	Amdocs Ltd		297,338
10,064	*	Autodesk, Inc		500,785
4,455	*	Avis Budget Group, Inc		57,915
17,108	*	BEA Systems, Inc		269,964
8,755	*	BMC Software, Inc		312,028
1,914		Brink's Co		114,342
17,963		CA, Inc		448,177
12,150	*	Cadence Design Systems, Inc		206,672
2,864	*	Cerner Corp		161,530
3,319	*	ChoicePoint, Inc		120,878
7,879	*	Citrix Systems, Inc		299,481
1,670	*	Clear Channel Outdoor Holdings, Inc (Class A)		46,192
12,540	*	Cognizant Technology Solutions Corp (Class A)		425,608
7,558	*	Computer Sciences Corp		373,894
13,156	*	Compuware Corp		116,825
5,732	*	Convergys Corp		94,349
2,352	*	DST Systems, Inc		194,158
13,583	*	Electronic Arts, Inc		793,383
22,208		Electronic Data Systems Corp		460,372
6,342		Equifax, Inc		230,595
8,812	*	Expedia, Inc		278,635
3,700	*	F5 Networks, Inc		105,524
1,875		Factset Research Systems, Inc		104,438
2,401		Fair Isaac Corp		77,192
8,396		Fidelity National Information Services, Inc		349,190
7,333	*	Fiserv, Inc		406,908
2,225	*	Getty Images, Inc		64,525
7,927	*	HLTH Corp		106,222
8,568		IMS Health, Inc		197,407
20,469	*	Interpublic Group of Cos, Inc		166,004
14,689	*	Intuit, Inc		464,319
7,728	*	Iron Mountain, Inc		286,091
22,431	*	Juniper Networks, Inc		744,709
2,327	*	Kinetic Concepts, Inc		124,634
3,604	e	Lamar Advertising Co (Class A)		173,244
3,683		Manpower, Inc		209,563
3,478	e	Mastercard, Inc (Class A)		748,466
6,960	*	McAfee, Inc		261,000
3,653	e	MoneyGram International, Inc		56,147
5,486	*	Monster Worldwide, Inc		177,746
4,257	*	NAVTEQ Corp		321,829
7,852	*	NCR Corp		197,085
15,149	*	Novell, Inc		104,074
8,428	*	Red Hat, Inc		175,640
6,412		Robert Half International, Inc		173,380
4,141	*	Salesforce.com, Inc		259,599
6,320	*	Synopsys, Inc		163,878
1,640	e	Total System Services, Inc		45,920
14,573	*	Unisys Corp		68,930
3,748	*	United Rentals, Inc		68,813

187

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,749	*	VeriSign, Inc	$	366,660
418	e*	WebMD Health Corp (Class A)		17,167
		TOTAL BUSINESS SERVICES		13,337,854
CHEMICALS AND ALLIED PRODUCTS - 5.46%
274	*	Abraxis Bioscience, Inc		18,843
9,443		Air Products & Chemicals, Inc		931,363
3,485		Albemarle Corp		143,756
3,654		Alberto-Culver Co		89,669
1,097	*	APP Pharmaceuticals, Inc		11,266
4,648		Avery Dennison Corp		246,995
19,142		Avon Products, Inc		756,683
4,786	*	Barr Pharmaceuticals, Inc		254,137
2,950		Cabot Corp		98,353
5,563		Celanese Corp (Series A)		235,426
2,890	*	Cephalon, Inc		207,386
2,934	*	Charles River Laboratories International, Inc		193,057
10,538		Chemtura Corp		82,196
2,966		Church & Dwight Co, Inc		160,372
6,035		Clorox Co		393,301
1,844		Cytec Industries, Inc		113,554
3,670		Eastman Chemical Co		224,200
7,627		Ecolab, Inc		390,579
4,763		Estee Lauder Cos (Class A)		207,714
3,338		FMC Corp		182,088
13,959	*	Forest Laboratories, Inc		508,806
6,829	*	Hospira, Inc		291,189
3,764		Huntsman Corp		96,735
2,698	*	Idexx Laboratories, Inc		158,184
2,697	*	ImClone Systems, Inc		115,971
3,894		International Flavors & Fragrances, Inc		187,418
2,042	*	Invitrogen Corp		190,743
10,700	*	King Pharmaceuticals, Inc		109,568
3,040		Lubrizol Corp		164,646
14,016	*	Millennium Pharmaceuticals, Inc		209,960
6,750	*	Mosaic Co		636,795
13,053	*	Mylan Laboratories, Inc		183,525
6,301		Nalco Holding Co		152,358
2,313	*	NBTY, Inc		63,376
5,122	*	PDL BioPharma, Inc		89,737
7,159		PPG Industries, Inc		502,777
6,048		Rohm & Haas Co		320,967
5,070		RPM International, Inc		102,921
1,941		Scotts Miracle-Gro Co (Class A)		72,632
4,512	*	Sepracor, Inc		118,440
4,843		Sherwin-Williams Co		281,088
5,727		Sigma-Aldrich Corp		312,694
4,503		Valspar Corp		101,498
3,664	*	VCA Antech, Inc		162,059
5,712	*	Vertex Pharmaceuticals, Inc		132,690
4,073	*	Warner Chilcott Ltd (Class A)		72,214
4,470	*	Watson Pharmaceuticals, Inc		121,316
782	e	Westlake Chemical Corp		14,850
		TOTAL CHEMICALS AND ALLIED PRODUCTS		10,416,095
COAL MINING - 0.89%
6,225		Arch Coal, Inc		279,689

188

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,938		Consol Energy, Inc	$	567,726
3,579		Massey Energy Co		127,949
11,558		Peabody Energy Corp		712,435
		TOTAL COAL MINING		1,687,799
COMMUNICATIONS - 3.77%
18,230	*	American Tower Corp (Class A)		776,598
9,619		Cablevision Systems Corp (Class A)		235,666
1,531	*	Central European Media Enterprises Ltd (Class A)		177,565
4,863		CenturyTel, Inc		201,620
14,944		Citizens Communications Co		190,237
1,139	e*	Clearwire Corp (Class A)		15,616
10,114	*	Crown Castle International Corp		420,742
2,321	*	CTC Media, Inc		70,094
9,080	*	EchoStar Communications Corp (Class A)		342,498
6,587		Embarq Corp		326,254
3,516		Global Payments, Inc		163,564
1,041	e	Hearst-Argyle Television, Inc		23,017
7,624	*	IAC/InterActiveCorp		205,238
2,225	e*	Leap Wireless International, Inc		103,774
66,800	*	Level 3 Communications, Inc		203,072
16,748	*	Liberty Global, Inc (Class A)		656,354
5,621	*	Liberty Media Corp - Capital (Series A)		654,790
26,878	*	Liberty Media Holding Corp (Interactive A)		512,832
2,683	*	MetroPCS Communications, Inc		52,184
3,314	*	NeuStar, Inc (Class A)		95,046
7,542	*	NII Holdings, Inc		364,429
70,203		Qwest Communications International, Inc		492,123
4,488	*	SBA Communications Corp (Class A)		151,874
4,472		Telephone & Data Systems, Inc		279,947
721	*	US Cellular Corp		60,636
20,826		Windstream Corp		271,155
12,468	*	XM Satellite Radio Holdings, Inc (Class A)		152,608
		TOTAL COMMUNICATIONS		7,199,533
DEPOSITORY INSTITUTIONS - 3.28%
5,564	e	Associated Banc-Corp		150,729
3,639		Astoria Financial Corp		84,680
3,585		Bancorpsouth, Inc		84,642
2,102		Bank of Hawaii Corp		107,496
914		BOK Financial Corp		47,254
1,080		Capitol Federal Financial		33,480
1,791		City National Corp		106,654
6,940	e	Colonial Bancgroup, Inc		93,968
6,804		Comerica, Inc		296,178
8,352		Commerce Bancorp, Inc		318,545
3,162		Commerce Bancshares, Inc		141,847
2,620		Cullen/Frost Bankers, Inc		132,729
2,787	e	East West Bancorp, Inc		67,529
300		First Citizens Bancshares, Inc (Class A)		43,755
5,484	e	First Horizon National Corp		99,535
7,561		Fulton Financial Corp		84,834
23,762		Hudson City Bancorp, Inc		356,905
15,941		Huntington Bancshares, Inc		235,289
3,241	e	IndyMac Bancorp, Inc		19,284
17,115		Keycorp		401,347
2,994		M&T Bank Corp		244,221

189

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
11,303		Marshall & Ilsley Corp	$	299,303
3,767	*	Metavante Technologies, Inc		87,846
14,033	e	New York Community Bancorp, Inc		246,700
9,568		Northern Trust Corp		732,717
9,469		People's United Financial, Inc		168,548
12,327		Popular, Inc		130,666
18,712		Sovereign Bancorp, Inc		213,317
12,102		Synovus Financial Corp		291,416
5,650		TCF Financial Corp		101,305
4,688	e*	TFS Financial Corp		55,975
2,116		UnionBanCal Corp		103,494
5,250	e	Valley National Bancorp		100,065
3,810		Washington Federal, Inc		80,429
2,505		Webster Financial Corp		80,085
3,021	e	Whitney Holding Corp		78,999
2,960	e	Wilmington Trust Corp		104,192
4,718		Zions Bancorporation		220,283
		TOTAL DEPOSITORY INSTITUTIONS		6,246,241
EATING AND DRINKING PLACES - 0.89%
4,594		Brinker International, Inc		89,859
2,779		Burger King Holdings, Inc		79,229
3,018	e*	Cheesecake Factory		71,557
6,169		Darden Restaurants, Inc		170,943
8,266		Tim Hortons, Inc		305,263
3,808		Wendy's International, Inc		98,399
22,852		Yum! Brands, Inc		874,546
		TOTAL EATING AND DRINKING PLACES		1,689,796
EDUCATIONAL SERVICES - 0.37%
6,308	*	Apollo Group, Inc (Class A)		442,506
4,148	*	Career Education Corp		104,281
1,772	*	ITT Educational Services, Inc		151,098
		TOTAL EDUCATIONAL SERVICES		697,885
ELECTRIC, GAS, AND SANITARY SERVICES - 8.90%
29,129	*	AES Corp		623,069
3,440		AGL Resources, Inc		129,482
7,229		Allegheny Energy, Inc		459,837
4,965		Alliant Energy Corp		202,026
12,483	*	Allied Waste Industries, Inc		137,563
9,035		Ameren Corp		489,787
17,391		American Electric Power Co, Inc		809,725
5,870		Aqua America, Inc		124,444
3,722		Atmos Energy Corp		104,365
14,005		Centerpoint Energy, Inc		239,906
9,827		CMS Energy Corp		170,793
11,801		Consolidated Edison, Inc		576,479
7,859		Constellation Energy Group, Inc		805,783
5,244	*	Covanta Holding Corp		145,049
4,952	e	DPL, Inc		146,827
7,676		DTE Energy Co		337,437
14,751	*	Dynegy, Inc (Class A)		105,322
14,213		Edison International		758,548
30,556		El Paso Corp		526,785
3,132		Energen Corp		201,168
6,901		Energy East Corp		187,776

190

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,829		Great Plains Energy, Inc	$	112,266
3,583	e	Hawaiian Electric Industries, Inc		81,585
3,306		Integrys Energy Group, Inc		170,887
7,935		MDU Resources Group, Inc		219,085
11,159	e*	Mirant Corp		434,978
3,642	e	National Fuel Gas Co		170,009
11,966		NiSource, Inc		226,038
6,740		Northeast Utilities		211,029
10,570	e*	NRG Energy, Inc		458,104
4,719		NSTAR		170,922
4,000		OGE Energy Corp		145,160
4,529		Oneok, Inc		202,763
8,430		Pepco Holdings, Inc		247,252
15,329		PG&E Corp		660,527
4,368		Pinnacle West Capital Corp		185,247
16,832		PPL Corp		876,779
11,244		Progress Energy, Inc		544,547
5,100		Puget Energy, Inc		139,893
7,517		Questar Corp		406,670
14,908	*	Reliant Energy, Inc		391,186
7,259		Republic Services, Inc		227,570
5,088		SCANA Corp		214,459
11,503		Sempra Energy		711,806
9,664		Sierra Pacific Resources		164,095
4,695		Southern Union Co		137,845
3,823	*	Stericycle, Inc		227,086
9,151		TECO Energy, Inc		157,489
4,649		UGI Corp		126,685
3,200		Vectren Corp		92,832
26,126		Williams Cos, Inc		934,788
5,106		Wisconsin Energy Corp		248,713
17,839		Xcel Energy, Inc		402,626
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		16,983,092
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.56%
4,909	*	ADC Telecommunications, Inc		76,335
24,120	*	Advanced Micro Devices, Inc		180,900
15,491		Altera Corp		299,286
4,656		Ametek, Inc		218,087
7,807		Amphenol Corp (Class A)		362,011
14,272		Analog Devices, Inc		452,422
20,647	*	Atmel Corp		89,195
6,519	*	Avnet, Inc		227,969
1,931		AVX Corp		25,914
20,438	*	Broadcom Corp (Class A)		534,249
3,727	*	Ciena Corp		127,128
7,983		Cooper Industries Ltd (Class A)		422,141
3,540	e*	Cree, Inc		97,244
6,600	*	Cypress Semiconductor Corp		237,798
1,726	*	Dolby Laboratories, Inc (Class A)		85,817
6,392		Eaton Corp		619,704
2,456	*	Energizer Holdings, Inc		275,391
5,406	*	Fairchild Semiconductor International, Inc		78,009
1,575	e*	First Solar, Inc		420,746
2,840		Harman International Industries, Inc		209,336
5,852		Harris Corp		366,803
8,654	*	Integrated Device Technology, Inc		97,877

191

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,191	e*	International Rectifier Corp	$	108,398
5,894		Intersil Corp (Class A)		144,285
2,864	e*	Jarden Corp		67,619
8,986	e*	JDS Uniphase Corp		119,514
5,452		L-3 Communications Holdings, Inc		577,585
1,866		Lincoln Electric Holdings, Inc		132,822
9,689		Linear Technology Corp		308,401
31,267	*	LSI Logic Corp		166,028
20,613	*	Marvell Technology Group Ltd		288,170
9,791	*	MEMC Electronic Materials, Inc		866,406
9,620	e	Microchip Technology, Inc		302,260
33,010	*	Micron Technology, Inc		239,323
6,010		Molex, Inc		164,073
11,828		National Semiconductor Corp		267,786
16,185	*	Network Appliance, Inc		403,978
5,517	e*	Novellus Systems, Inc		152,104
23,747	*	Nvidia Corp		807,873
6,432	*	QLogic Corp		91,334
5,674		RadioShack Corp		95,664
4,617	e*	Rambus, Inc		96,680
23,487	*	Sanmina-SCI Corp		42,746
2,435	*	Silicon Laboratories, Inc		91,142
64,060	e*	Sirius Satellite Radio, Inc		194,102
1,088	e*	Sunpower Corp (Class A)		141,864
1,633		Teleflex, Inc		102,895
19,115	*	Tellabs, Inc		125,012
2,536	*	Thomas & Betts Corp		124,365
3,431	*	Varian Semiconductor Equipment Associates, Inc		126,947
8,133	*	Vishay Intertechnology, Inc		92,798
3,436		Whirlpool Corp		280,481
13,000		Xilinx, Inc		284,310
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		12,511,327
ENGINEERING AND MANAGEMENT SERVICES - 2.02%
5,736	*	Amylin Pharmaceuticals, Inc		212,232
1,654		Corporate Executive Board Co		99,405
3,843		Fluor Corp		560,002
1,550	*	Genpact Ltd		23,607
2,287	*	Gen-Probe, Inc		143,921
4,147	*	Hewitt Associates, Inc (Class A)		158,789
5,196	*	Jacobs Engineering Group, Inc		496,790
7,360	*	KBR, Inc		285,568
9,710	*	McDermott International, Inc		573,181
14,794		Paychex, Inc		535,839
6,818		Quest Diagnostics, Inc		360,672
3,523	*	Shaw Group, Inc		212,930
3,407	*	URS Corp		185,102
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,848,038
FABRICATED METAL PRODUCTS - 0.96%
1,471	*	Alliant Techsystems, Inc		167,341
4,458		Ball Corp		200,610
5,205		Commercial Metals Co		153,287
2,226		Crane Co		95,495
7,134	*	Crown Holdings, Inc		182,987
7,579		Parker Hannifin Corp		570,774
4,359		Pentair, Inc		151,737

192

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,536		Snap-On, Inc	$	122,337
3,634		Stanley Works		176,176
		TOTAL FABRICATED METAL PRODUCTS		1,820,744
FOOD AND KINDRED PRODUCTS - 3.05%
5,264		Bunge Ltd		612,782
10,094		Campbell Soup Co		360,659
13,597		Coca-Cola Enterprises, Inc		353,930
21,731		ConAgra Foods, Inc		516,980
8,367	*	Constellation Brands, Inc (Class A)		197,796
3,243		Corn Products International, Inc		119,180
8,823		Del Monte Foods Co		83,466
14,175		H.J. Heinz Co		661,689
2,974	e*	Hansen Natural Corp		131,718
7,346		Hershey Co		289,432
3,244		Hormel Foods Corp		131,317
2,472		J.M. Smucker Co		127,160
5,703		McCormick & Co, Inc		216,201
4,776		Molson Coors Brewing Co (Class B)		246,537
6,143		Pepsi Bottling Group, Inc		242,403
2,675		PepsiAmericas, Inc		89,131
32,051		Sara Lee Corp		514,739
4,768	*	Smithfield Foods, Inc		137,891
11,536		Tyson Foods, Inc (Class A)		176,847
10,456		Wrigley (Wm.) Jr Co		612,199
		TOTAL FOOD AND KINDRED PRODUCTS		5,822,057
FOOD STORES - 0.68%
1,240	e*	Panera Bread Co (Class A)		44,417
19,263		Safeway, Inc		658,987
9,163		Supervalu, Inc		343,796
6,165	e	Whole Foods Market, Inc		251,532
		TOTAL FOOD STORES		1,298,732
FORESTRY - 0.08%
3,409		Rayonier, Inc		161,041
		TOTAL FORESTRY		161,041
FURNITURE AND FIXTURES - 0.37%
2,717		Hillenbrand Industries, Inc		151,418
2,008		HNI Corp		70,400
7,703	e	Leggett & Platt, Inc		134,340
16,484		Masco Corp		356,219
		TOTAL FURNITURE AND FIXTURES		712,377
FURNITURE AND HOMEFURNISHINGS STORES - 0.61%
12,095	*	Bed Bath & Beyond, Inc		355,472
7,892	e	Circuit City Stores, Inc		33,146
6,863	*	GameStop Corp (Class A)		426,261
2,400	*	Mohawk Industries, Inc		178,560
3,612		Steelcase, Inc (Class A)		57,322
3,981	e	Williams-Sonoma, Inc		103,108
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		1,153,869
GENERAL BUILDING CONTRACTORS - 0.48%
5,241		Centex Corp		132,388
13,714		DR Horton, Inc		180,613

193

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,437	e	KB Home	$	74,239
5,919		Lennar Corp (Class A)		105,891
1,403		MDC Holdings, Inc		52,093
214	e*	NVR, Inc		112,136
9,241		Pulte Homes, Inc		97,400
1,892		Ryland Group, Inc		52,125
5,465	e*	Toll Brothers, Inc		109,628
		TOTAL GENERAL BUILDING CONTRACTORS		916,513
GENERAL MERCHANDISE STORES - 0.77%
4,727	e*	Big Lots, Inc		75,585
2,734	*	BJ's Wholesale Club, Inc		92,491
2,689	e	Dillard's, Inc (Class A)		50,499
6,596		Family Dollar Stores, Inc		126,841
9,844		JC Penney Co, Inc		433,038
6,250	e	Saks, Inc		129,750
19,833		TJX Cos, Inc		569,802
		TOTAL GENERAL MERCHANDISE STORES		1,478,006
HEALTH SERVICES - 2.29%
7,861		AmerisourceBergen Corp		352,723
1,653		Brookdale Senior Living, Inc		46,962
12,555		Cigna Corp		674,580
4,255	*	Community Health Systems, Inc		156,839
2,768	*	Covance, Inc		239,764
6,818	*	Coventry Health Care, Inc		403,967
4,592	*	DaVita, Inc		258,759
2,532	*	Edwards Lifesciences Corp		116,447
9,592	*	Express Scripts, Inc		700,216
10,923	e	Health Management Associates, Inc (Class A)		65,320
5,132	*	Laboratory Corp of America Holdings		387,620
2,528	*	LifePoint Hospitals, Inc		75,183
3,659	*	Lincare Holdings, Inc		128,650
5,305	e	Omnicare, Inc		121,007
2,118	*	Pediatrix Medical Group, Inc		144,342
4,518		Pharmaceutical Product Development, Inc		182,392
2,418	*	Sierra Health Services, Inc		101,459
19,221	*	Tenet Healthcare Corp		97,643
2,070		Universal Health Services, Inc (Class B)		105,984
		TOTAL HEALTH SERVICES		4,359,857
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.25%
3,073	*	Foster Wheeler Ltd		476,376
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		476,376
HOLDING AND OTHER INVESTMENT OFFICES - 7.36%
1,300	*	Affiliated Managers Group, Inc		152,698
6,650	e	Allied Capital Corp		142,975
4,343		AMB Property Corp		249,983
17,390		Annaly Mortgage Management, Inc		316,150
4,239	e	Apartment Investment & Management Co (Class A)		147,220
3,476		AvalonBay Communities, Inc		327,231
4,463		Boston Properties, Inc		409,748
3,848		Brandywine Realty Trust		68,995
2,225		BRE Properties, Inc (Class A)		90,179
2,479		Camden Property Trust		119,364
2,865		CBL & Associates Properties, Inc		68,502

194

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,144		Colonial Properties Trust	$	48,519
5,449		Developers Diversified Realty Corp		208,642
4,550		Douglas Emmett, Inc		102,876
6,084		Duke Realty Corp		158,671
12,687		Equity Residential		462,695
1,077		Essex Property Trust, Inc		104,997
2,452		Federal Realty Investment Trust		201,432
9,436		General Growth Properties, Inc		388,574
8,990		HCP, Inc		312,672
3,510		Health Care REIT, Inc		156,862
4,091		Hospitality Properties Trust		131,812
22,777		Host Marriott Corp		388,120
9,260		HRPT Properties Trust		71,580
46,300	e	iShares Russell Midcap Index Fund		4,793,902
5,589		iStar Financial, Inc		145,593
1,403		Kilroy Realty Corp		77,109
9,370		Kimco Realty Corp		341,068
4,009	e	Liberty Property Trust		115,499
3,121		Macerich Co		221,778
2,839		Mack-Cali Realty Corp		96,526
7,713		Plum Creek Timber Co, Inc		355,107
11,195		Prologis		709,539
5,438		Public Storage, Inc		399,204
3,027		Regency Centers Corp		195,211
2,590		SL Green Realty Corp		242,061
2,337		Taubman Centers, Inc		114,957
5,274		Thornburg Mortgage, Inc		48,732
5,927		UDR, Inc		117,651
5,809		Ventas, Inc		262,857
12,789		Virgin Media, Inc		219,203
5,823		Vornado Realty Trust		512,133
2,621		WABCO Holdings, Inc		131,286
3,331	e	Weingarten Realty Investors		104,727
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		14,034,640
HOTELS AND OTHER LODGING PLACES - 0.57%
2,521		Boyd Gaming Corp		85,890
1,664	e	Choice Hotels International, Inc		55,245
1,775	e	Orient-Express Hotels Ltd (Class A)		102,098
8,831		Starwood Hotels & Resorts Worldwide, Inc		388,829
7,955		Wyndham Worldwide Corp		187,420
2,389		Wynn Resorts Ltd		267,879
		TOTAL HOTELS AND OTHER LODGING PLACES		1,087,361
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.05%
4,023	*	AGCO Corp		273,484
2,871		Black & Decker Corp		199,965
17,496	*	Brocade Communications Systems, Inc		128,421
2,756		Carlisle Cos, Inc		102,055
4,541		Cummins, Inc		578,387
2,866		Diebold, Inc		83,057
3,550		Donaldson Co, Inc		164,649
8,914		Dover Corp		410,846
3,743	*	Dresser-Rand Group, Inc		146,164
2,490		Flowserve Corp		239,538
5,662	*	FMC Technologies, Inc		321,035
2,399	*	Gardner Denver, Inc		79,167

195

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,941		Graco, Inc	$	109,582
5,562	*	Grant Prideco, Inc		308,747
3,537		IDEX Corp		127,792
11,962		Ingersoll-Rand Co Ltd (Class A)		555,874
14,505		International Game Technology		637,205
8,007		Jabil Circuit, Inc		122,267
4,740		Joy Global, Inc		311,987
3,384		Kennametal, Inc		128,118
5,385	*	Lam Research Corp		232,794
2,452		Lennox International, Inc		101,562
4,129	*	Lexmark International, Inc (Class A)		143,937
5,444		Manitowoc Co, Inc		265,831
5,368		Pall Corp		216,438
960	*	Riverbed Technology, Inc		25,670
6,877		Rockwell Automation, Inc		474,238
9,959	*	SanDisk Corp		330,340
2,829	e*	Scientific Games Corp (Class A)		94,064
23,719		Seagate Technology, Inc		604,835
2,485		SPX Corp		255,582
7,852	*	Teradata Corp		215,223
4,491	*	Terex Corp		294,475
4,141		Timken Co		136,032
1,817		Toro Co		98,917
7,875		Trane, Inc		367,841
5,560	*	Varian Medical Systems, Inc		290,010
2,707	e*	VeriFone Holdings, Inc		62,938
9,688	*	Western Digital Corp		292,674
3,013	*	Zebra Technologies Corp (Class A)		104,551
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		9,636,292
INSTRUMENTS AND RELATED PRODUCTS - 4.56%
2,646	*	Advanced Medical Optics, Inc		64,906
17,609	*	Agilent Technologies, Inc		646,955
13,306		Allergan, Inc		854,777
8,067		Applera Corp (Applied Biosystems Group)		273,633
4,511		Bard (C.R.), Inc		427,643
2,697		Beckman Coulter, Inc		196,342
1,848		Cooper Cos, Inc		70,224
6,629		Dentsply International, Inc		298,438
1,794		DRS Technologies, Inc		97,360
12,552	e	Eastman Kodak Co		274,512
5,032		Garmin Ltd		488,104
1,647	*	Intuitive Surgical, Inc		534,452
8,355		Kla-Tencor Corp		402,377
1,649	*	Mettler-Toledo International, Inc		187,656
2,351	*	Millipore Corp		172,046
2,560		National Instruments Corp		85,325
5,226		PerkinElmer, Inc		135,981
9,580		Pitney Bowes, Inc		364,423
3,400	e*	Resmed, Inc		178,602
3,210	*	Respironics, Inc		210,191
7,303		Rockwell Collins, Inc		525,597
3,854		Roper Industries, Inc		241,029
14,761	*	St. Jude Medical, Inc		599,887
1,773	*	Techne Corp		117,107
8,356	*	Teradyne, Inc		86,401
5,216	*	Trimble Navigation Ltd		157,732

196

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,402	*	Waters Corp	$	348,066
40,894		Xerox Corp		662,074
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		8,701,840
INSURANCE AGENTS, BROKERS AND SERVICE - 0.54%
12,807		AON Corp		610,766
4,884		Brown & Brown, Inc		114,774
4,160		Gallagher (Arthur J.) & Co		100,630
400		White Mountains Insurance Group Ltd		205,620
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		1,031,790
INSURANCE CARRIERS - 4.52%
222	*	Alleghany Corp		89,244
2,628		Allied World Assurance Holdings Ltd		131,847
4,451	e	Ambac Financial Group, Inc		114,702
3,637		American Financial Group, Inc		105,037
685		American National Insurance Co		83,049
2,242	*	Arch Capital Group Ltd		157,725
5,273		Assurant, Inc		352,764
6,699		Axis Capital Holdings Ltd		261,060
7,489		Cincinnati Financial Corp		296,115
1,370		CNA Financial Corp		46,196
8,243	*	Conseco, Inc		103,532
2,590		Endurance Specialty Holdings Ltd		108,081
2,118		Erie Indemnity Co (Class A)		109,903
2,754		Everest Re Group Ltd		276,502
9,678		Fidelity National Title Group, Inc (Class A)		141,396
4,220	e	First American Corp		143,986
18,975		Genworth Financial, Inc (Class A)		482,914
2,154		Hanover Insurance Group, Inc		98,653
4,890		HCC Insurance Holdings, Inc		140,245
4,897	*	Health Net, Inc		236,525
7,329	*	Humana, Inc		551,947
7,151		Leucadia National Corp		336,812
435	*	Markel Corp		213,629
5,704	e	MBIA, Inc		106,266
1,200		Mercury General Corp		59,772
3,628	e	MGIC Investment Corp		81,376
2,223		Nationwide Financial Services, Inc (Class A)		100,057
10,107		Old Republic International Corp		155,749
1,290		OneBeacon Insurance Group Ltd		27,735
2,480		PartnerRe Ltd		204,674
2,478	*	Philadelphia Consolidated Holding Co		97,509
3,784	e	PMI Group, Inc		50,252
11,683		Principal Financial Group		804,258
3,060		Protective Life Corp		125,521
3,501	e	Radian Group, Inc		40,892
1,330		Reinsurance Group Of America, Inc		69,798
3,151		RenaissanceRe Holdings Ltd		189,816
4,634		Safeco Corp		258,021
2,330		Stancorp Financial Group, Inc		117,385
4,165		Torchmark Corp		252,107
1,119		Transatlantic Holdings, Inc		81,318
1,910	e	Unitrin, Inc		91,661
15,748		UnumProvident Corp		374,645
7,441		W.R. Berkley Corp		221,816
1,886	*	WellCare Health Plans, Inc		79,985

197

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
79		Wesco Financial Corp	$	32,153
8,111		XL Capital Ltd (Class A)		408,064
		TOTAL INSURANCE CARRIERS		8,612,694
JUSTICE, PUBLIC ORDER AND SAFETY - 0.08%
5,362	*	Corrections Corp of America		158,233
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		158,233
LEATHER AND LEATHER PRODUCTS - 0.33%
16,189	*	Coach, Inc		495,060
3,488	*	CROCS, Inc		128,393
		TOTAL LEATHER AND LEATHER PRODUCTS		623,453
LUMBER AND WOOD PRODUCTS - 0.03%
4,630		Louisiana-Pacific Corp		63,338
		TOTAL LUMBER AND WOOD PRODUCTS		63,338
METAL MINING - 0.17%
1,803		Cleveland-Cliffs, Inc		181,742
1,975		Foundation Coal Holdings, Inc		103,688
1,155	*	Patriot Coal Corp		48,210
		TOTAL METAL MINING		333,640
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.53%
777	*	Armstrong World Industries, Inc		31,165
6,664		Fortune Brands, Inc		482,207
6,953		Hasbro, Inc		177,858
17,163		Mattel, Inc		326,784
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,018,014
MISCELLANEOUS RETAIL - 0.61%
2,284		Barnes & Noble, Inc		78,684
2,887	e*	Coldwater Creek, Inc		19,314
3,526	*	Dick's Sporting Goods, Inc		97,882
4,251	*	Dollar Tree Stores, Inc		110,186
2,004		MSC Industrial Direct Co (Class A)		81,102
1,504	e*	Nutri/System, Inc		40,578
11,994	*	Office Depot, Inc		166,837
3,385		OfficeMax, Inc		69,934
5,938		Petsmart, Inc		139,721
28,515	e*	Rite Aid Corp		79,557
5,949		Tiffany & Co		273,832
		TOTAL MISCELLANEOUS RETAIL		1,157,627
MOTION PICTURES - 0.23%
12,228	*	Discovery Holding Co (Class A)		307,412
2,881	*	DreamWorks Animation SKG, Inc (Class A)		73,581
3,280		Regal Entertainment Group (Class A)		59,270
		TOTAL MOTION PICTURES		440,263
NONDEPOSITORY INSTITUTIONS - 0.80%
8,186		American Capital Strategies Ltd		269,811
5,272	e*	AmeriCredit Corp		67,429
5,609		CapitalSource, Inc		98,662
8,371		CIT Group, Inc		201,155
2,563	e	First Marblehead Corp		39,214
2,100	*	GLG Partners Inc		28,560

198

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,538	*	Guaranty Financial Group, Inc	$	24,619
211	e	Student Loan Corp		23,210
10,870		Textron, Inc		775,031
		TOTAL NONDEPOSITORY INSTITUTIONS		1,527,691
NONMETALLIC MINERALS, EXCEPT FUELS - 0.18%
4,405		Vulcan Materials Co		348,391
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		348,391
OIL AND GAS EXTRACTION - 5.46%
12,796		BJ Services Co		310,431
9,614	*	Cameron International Corp		462,722
1,863	e*	Cheniere Energy, Inc		60,808
20,095	d	Chesapeake Energy Corp		787,724
3,727		Cimarex Energy Co		158,509
1,334	*	CNX Gas Corp		42,621
1,190	*	Continental Resources, Inc		31,095
10,554	*	Denbury Resources, Inc		313,982
2,970		Diamond Offshore Drilling, Inc		421,740
6,503		ENSCO International, Inc		387,709
5,307		Equitable Resources, Inc		282,757
3,396	*	Forest Oil Corp		172,653
4,021	*	Global Industries Ltd		86,130
3,985	*	Helix Energy Solutions Group, Inc		165,378
4,513		Helmerich & Payne, Inc		180,836
12,276	*	Nabors Industries Ltd		336,240
15,490	*	National Oilwell Varco, Inc		1,137,895
11,694		Noble Corp		660,828
2,380	*	Oceaneering International, Inc		160,293
6,903		Patterson-UTI Energy, Inc		134,747
5,385		Pioneer Natural Resources Co		263,003
4,757	*	Plains Exploration & Production Co		256,878
7,234	*	Pride International, Inc		245,233
2,243	*	Quicksilver Resources, Inc		133,660
6,453		Range Resources Corp		331,426
4,826		Rowan Cos, Inc		190,434
1,012	e*	SEACOR Holdings, Inc		93,853
8,749		Smith International, Inc		646,114
7,408	*	Southwestern Energy Co		412,774
2,736		St. Mary Land & Exploration Co		105,637
3,378	*	Superior Energy Services		116,271
3,009	*	Tetra Technologies, Inc		46,850
2,523		Tidewater, Inc		138,412
2,114	*	Unit Corp		97,773
1,390	e	W&T Offshore, Inc		41,644
14,713	*	Weatherford International Ltd		1,009,312
		TOTAL OIL AND GAS EXTRACTION		10,424,372
PAPER AND ALLIED PRODUCTS - 0.53%
4,666		Bemis Co		127,755
20,260	*	Domtar Corporation		155,799
8,050		MeadWestvaco Corp		251,965
4,041		Packaging Corp of America		113,956
11,140	*	Smurfit-Stone Container Corp		117,638
4,366		Sonoco Products Co		142,681
4,616		Temple-Inland, Inc		96,244
		TOTAL PAPER AND ALLIED PRODUCTS		1,006,038

199

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
PERSONAL SERVICES - 0.37%
5,916		Cintas Corp	$	198,896
14,094		H&R Block, Inc		261,726
12,832		Service Corp International		180,290
1,592	e	Weight Watchers International, Inc		71,927
		TOTAL PERSONAL SERVICES		712,839
PETROLEUM AND COAL PRODUCTS - 2.16%
2,444		Ashland, Inc		115,919
4,228		Cabot Oil & Gas Corp		170,684
4,802		Frontier Oil Corp		194,865
12,106		Hess Corp		1,221,011
1,975		Holly Corp		100,508
8,209		Murphy Oil Corp		696,452
5,669	*	Newfield Exploration Co		298,756
7,453		Noble Energy, Inc		592,663
1,150	*	SandRidge Energy, Inc		41,239
5,295		Sunoco, Inc		383,570
5,955		Tesoro Corp		284,054
1,178	e	Western Refining, Inc		28,519
		TOTAL PETROLEUM AND COAL PRODUCTS		4,128,240
PIPELINES, EXCEPT NATURAL GAS - 0.37%
27,566		Spectra Energy Corp		711,754
		TOTAL PIPELINES, EXCEPT NATURAL GAS		711,754
PRIMARY METAL INDUSTRIES - 1.57%
4,851	*	AK Steel Holding Corp		224,310
4,457		Allegheny Technologies, Inc		385,085
2,282		Carpenter Technology Corp		171,538
2,675	*	CommScope, Inc		131,637
2,274	*	General Cable Corp		166,639
2,600		Hubbell, Inc (Class B)		134,160
5,995		Precision Castparts Corp		831,507
4,125		Steel Dynamics, Inc		245,726
3,091	e	Titanium Metals Corp		81,757
5,159		United States Steel Corp		623,775
		TOTAL PRIMARY METAL INDUSTRIES		2,996,134
PRINTING AND PUBLISHING - 0.99%
2,590		Dun & Bradstreet Corp		229,552
3,929	e	EW Scripps Co (Class A)		176,844
10,238		Gannett Co, Inc		399,282
2,308	e	Harte-Hanks, Inc		39,928
2,123		John Wiley & Sons, Inc (Class A)		90,949
2,116	e	McClatchy Co (Class A)		26,492
2,100		Meredith Corp		115,458
600	*	MSCI, Inc		23,040
6,244	e	New York Times Co (Class A)		109,457
3,096	e	R.H. Donnelley Corp		112,942
9,599		R.R. Donnelley & Sons Co		362,266
255		Washington Post Co (Class B)		201,815
		TOTAL PRINTING AND PUBLISHING		1,888,025
RAILROAD TRANSPORTATION - 0.50%
19,067		CSX Corp		838,567

200

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,440	*	Kansas City Southern Industries, Inc	$	118,095
		TOTAL RAILROAD TRANSPORTATION		956,662
REAL ESTATE - 0.31%
8,520	*	CB Richard Ellis Group, Inc (Class A)		183,606
3,142		Forest City Enterprises, Inc (Class A)		139,630
1,538	*	Forestar Real Estate Group, Inc		36,297
1,606		Jones Lang LaSalle, Inc		114,283
3,113	e*	St. Joe Co		110,543
		TOTAL REAL ESTATE		584,359
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.39%
9,153	*	Goodyear Tire & Rubber Co		258,298
12,164		Newell Rubbermaid, Inc		314,804
7,050		Sealed Air Corp		163,137
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		736,239
SECURITY AND COMMODITY BROKERS - 3.17%
10,258		Ameriprise Financial, Inc		565,318
2,784	e	BlackRock, Inc		603,571
6,075		Broadridge Financial Solutions, Inc		136,262
18,637	e*	E*Trade Financial Corp		66,161
4,808		Eaton Vance Corp		218,331
3,882		Federated Investors, Inc (Class B)		159,783
3,067	*	IntercontinentalExchange, Inc		590,398
18,200		Invesco Ltd		571,116
1,968	*	Investment Technology Group, Inc		93,657
7,655		Janus Capital Group, Inc		251,467
5,472		Jefferies Group, Inc		126,130
2,267		Lazard Ltd (Class A)		92,222
5,752		Legg Mason, Inc		420,759
4,250	*	MF Global Ltd		133,748
4,920	*	Nasdaq Stock Market, Inc		243,491
4,018		Nymex Holdings, Inc		536,845
4,105		Raymond James Financial, Inc		134,069
5,646		SEI Investments Co		181,632
11,585		T Rowe Price Group, Inc		705,295
10,842		TD Ameritrade Holding Corp		217,491
		TOTAL SECURITY AND COMMODITY BROKERS		6,047,746
SPECIAL TRADE CONTRACTORS - 0.10%
7,175	*	Quanta Services, Inc		188,272
		TOTAL SPECIAL TRADE CONTRACTORS		188,272
STONE, CLAY, AND GLASS PRODUCTS - 0.39%
2,049	e	Eagle Materials, Inc		72,699
6,232	e	Gentex Corp		110,743
4,850	e*	Owens Corning, Inc		98,067
6,754	*	Owens-Illinois, Inc		334,323
3,493	e*	USG Corp		125,014
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		740,846
TOBACCO PRODUCTS - 0.41%
4,727		Loews Corp (Carolina Group)		403,213
6,988		UST, Inc		382,942
		TOTAL TOBACCO PRODUCTS		786,155

201

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION BY AIR - 0.64%
10,502	e*	AMR Corp	$	147,343
4,238	*	Continental Airlines, Inc (Class B)		94,296
817		Copa Holdings S.A. (Class A)		30,695
10,473	*	Delta Air Lines, Inc		155,943
11,489	*	Northwest Airlines Corp		166,705
32,219		Southwest Airlines Co		393,072
5,039	e	UAL Corp		179,691
3,569	e*	US Airways Group, Inc		52,500
		TOTAL TRANSPORTATION BY AIR		1,220,245
TRANSPORTATION EQUIPMENT - 1.91%
3,465		Autoliv, Inc		182,640
4,025	*	BE Aerospace, Inc		212,923
3,787	e	Brunswick Corp		64,568
88,217	e*	Ford Motor Co		593,700
7,478		Genuine Parts Co		346,231
5,463		Goodrich Corp		385,742
10,581		Harley-Davidson, Inc		494,239
3,668		Harsco Corp		235,009
7,924		ITT Industries, Inc		523,301
3,232		Oshkosh Truck Corp		152,744
5,693	*	Pactiv Corp		151,605
3,080	*	Spirit Aerosystems Holdings, Inc (Class A)		106,260
1,555	e	Thor Industries, Inc		59,106
3,378	e	Trinity Industries, Inc		93,773
1,794	*	TRW Automotive Holdings Corp		37,495
		TOTAL TRANSPORTATION EQUIPMENT		3,639,336
TRANSPORTATION SERVICES - 0.52%
7,384		CH Robinson Worldwide, Inc		399,622
9,299		Expeditors International Washington, Inc		415,479
2,295		GATX Corp		84,181
4,316		UTI Worldwide, Inc		84,594
		TOTAL TRANSPORTATION SERVICES		983,876
TRUCKING AND WAREHOUSING - 0.18%
1,911		Con-way, Inc		79,383
4,256	e	J.B. Hunt Transport Services, Inc		117,253
2,442		Landstar System, Inc		102,930
2,669	e*	YRC Worldwide, Inc		45,613
		TOTAL TRUCKING AND WAREHOUSING		345,179
WATER TRANSPORTATION - 0.40%
1,948		Alexander & Baldwin, Inc		100,634
2,060		Frontline Ltd		98,880
2,325	*	Kirby Corp		108,066
1,488		Overseas Shipholding Group, Inc		110,752
5,814	e	Royal Caribbean Cruises Ltd		246,746
1,687	e	Teekay Corp		89,765
		TOTAL WATER TRANSPORTATION		754,843
WHOLESALE TRADE-DURABLE GOODS - 0.87%
5,477	*	Arrow Electronics, Inc		215,137
5,052		BorgWarner, Inc		244,567
6,076	*	Ingram Micro, Inc (Class A)		109,611
1,853	e	Martin Marietta Materials, Inc		245,708

202

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,049	*	Patterson Cos, Inc	$	205,364
2,283	e	Pool Corp		45,272
2,820		Reliance Steel & Aluminum Co		152,844
2,302	*	Tech Data Corp		86,831
3,091		W.W. Grainger, Inc		270,524
2,020	e*	WESCO International, Inc		80,073
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,655,931
WHOLESALE TRADE-NONDURABLE GOODS - 0.66%
3,431		Airgas, Inc		178,789
1,562	e*	Bare Escentuals, Inc		37,879
3,391		Brown-Forman Corp (Class B)		251,307
5,675		Dean Foods Co		146,756
5,834	*	Endo Pharmaceuticals Holdings, Inc		155,593
3,870	*	Henry Schein, Inc		237,618
2,291		Herbalife Ltd		92,281
6,412		Idearc, Inc		112,595
1,524	e*	Tractor Supply Co		54,758
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,267,576
		TOTAL COMMON STOCKS		189,448,448
		(Cost $165,037,095)
PRINCIPAL		ISSUER
SHORT -TERM INVESTMENTS - 1.77%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.62%
$       1,180,000		Federal Home Loan Bank (FHLB) , 01/02/08		1,180,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		1,180,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.15%
2,201,135		State Street Navigator Securities Lending Prime Portfolio		2,201,135
		TOTAL SHORT-TERM INVESTMENTS		3,381,135
		(Cost $3,381,028)
		TOTAL PORTFOLIO - 101.09%
		(Cost $168,418,123)		192,829,583
		OTHER ASSETS & LIABILITIES, NET - (1.09)%		(2,077,791	)
		NET ASSETS - 100.00%	$	190,751,792
	*	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 $82,320.
	e	All or a portion of these securities are out on loan.
		At December 31, 2007, the unrealized appreciation on investments was $24,411,460, consisting of
		gross unrealized appreciation of $37,609,092 and gross unrealized depreciation of $13,197,632.

203

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.58%
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.01%
160	e	Cal-Maine Foods, Inc	$	4,245
11		Seaboard Corp		16,170
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		20,415
AGRICULTURAL SERVICES - 0.04%
2,272	e*	Cadiz, Inc		47,712
		TOTAL AGRICULTURAL SERVICES		47,712
AMUSEMENT AND RECREATION SERVICES - 1.21%
10,268	e*	Bally Technologies, Inc		510,525
3,259		Dover Downs Gaming & Entertainment, Inc		36,664
2,208	*	Lakes Entertainment, Inc		15,301
6,500	*	Life Time Fitness, Inc		322,920
882	e*	Live Nation, Inc		12,807
6,468	e*	Marvel Entertainment, Inc		172,760
3,911	e*	MTR Gaming Group, Inc		26,556
6,248	*	Pinnacle Entertainment, Inc		147,203
2,813	*	Town Sports International Holdings, Inc		26,892
13,191	*	Westwood One, Inc		26,250
7,906	e*	WMS Industries, Inc		289,676
4,390		World Wrestling Entertainment, Inc		64,796
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,652,350
APPAREL AND ACCESSORY STORES - 1.86%
15,073	*	Aeropostale, Inc		399,435
4,976	e	Bebe Stores, Inc		63,991
3,995		Brown Shoe Co, Inc		60,604
2,749		Buckle, Inc		90,717
1,830	*	Cache, Inc		17,092
11,362	*	Carter's, Inc		219,855
6,169	*	Casual Male Retail Group, Inc		31,955
1,573		Cato Corp (Class A)		24,633
4,715	*	Charlotte Russe Holding, Inc		76,147
4,349	e*	Children's Place Retail Stores, Inc		112,770
6,853		Christopher & Banks Corp		78,467
2,758	e*	Citi Trends, Inc		42,584
5,680	*	Collective Brands, Inc		98,775
7,070	*	Dress Barn, Inc		88,446
3,034	e*	DSW, Inc (Class A)		56,918
4,450	*	HOT Topic, Inc		25,899
7,571	*	J Crew Group, Inc		364,998
385	*	Jo-Ann Stores, Inc		5,036
3,565	e*	JOS A Bank Clothiers, Inc		101,424
3,868	*	New York & Co, Inc		24,678
11,136	*	Pacific Sunwear Of California, Inc		157,129

204

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
730	e*	Shoe Carnival, Inc	$	10,300
4,807	*	Tween Brands, Inc		127,289
4,833	e*	Under Armour, Inc (Class A)		211,057
17,757	*	Wet Seal, Inc (Class A)		41,374
		TOTAL APPAREL AND ACCESSORY STORES		2,531,573
APPAREL AND OTHER TEXTILE PRODUCTS - 0.46%
590	e	Columbia Sportswear Co		26,013
2,451	*	G-III Apparel Group Ltd		36,201
5,984	*	Gymboree Corp		182,273
1,380	e*	Lululemon Athletica, Inc		65,371
2,603	*	Maidenform Brands, Inc		35,219
7,162	*	Quiksilver, Inc		61,450
2,582	e*	True Religion Apparel, Inc		55,126
4,630	*	Warnaco Group, Inc		161,124
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		622,777
AUTO REPAIR, SERVICES AND PARKING - 0.28%
2,896	*	Midas, Inc		42,455
3,282		Monro Muffler, Inc		63,966
520	*	Standard Parking Corp		25,215
7,118	*	Wright Express Corp		252,618
		TOTAL AUTO REPAIR, SERVICES AND PARKING		384,254
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.00%**
495	e*	CSK Auto Corp		2,480
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		2,480
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.00%**
243	e*	Builders FirstSource, Inc		1,754
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		1,754
BUSINESS SERVICES - 14.13%
3,535	e*	3D Systems Corp		54,580
5,466		Aaron Rents, Inc		105,166
480		ABM Industries, Inc		9,787
5,663	e*	Acacia Research (Acacia Technologies)		50,854
7,230	e*	ACI Worldwide, Inc		137,659
11,792	*	Actuate Corp		91,624
4,542		Administaff, Inc		128,448
3,368	e*	Advent Software, Inc		182,209
5,791	e*	American Reprographics Co		95,436
6,751	*	AMN Healthcare Services, Inc		115,915
3,310	*	Ansoft Corp		85,564
15,077	*	Ansys, Inc		625,092
5,493	e	Arbitron, Inc		228,344
25,037	*	Art Technology Group, Inc		108,160
17,136	*	Aspen Technology, Inc		277,946
920	e*	athenahealth, Inc		33,120
2,186	e*	Bankrate, Inc		105,125
887		Barrett Business Services		15,975
7,196		Blackbaud, Inc		201,776
5,556	*	Blackboard, Inc		223,629
750	*	BladeLogic, Inc		22,178

205

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,406	*	Blue Coat Systems, Inc	$	177,695
10,025	e*	BPZ Energy, Inc		112,080
438	*	CACI International, Inc (Class A)		19,609
2,087	*	Capella Education Co		136,615
896	*	Cavium Networks, Inc		20,626
2,387	*	CBIZ, Inc		23,416
6,516	*	Chordiant Software, Inc		55,712
1,618	e*	Clayton Holdings, Inc		8,365
29,420	e*	CNET Networks, Inc		268,899
9,711	*	Cogent Communications Group, Inc		230,248
8,469	e*	Cogent, Inc		94,429
6,803		Cognex Corp		137,080
6,900	*	Commvault Systems, Inc		146,142
900	*	Compellent Technologies Inc		10,827
1,086		Computer Programs & Systems, Inc		24,696
3,396	*	COMSYS IT Partners, Inc		53,589
8,321	*	Concur Technologies, Inc		301,303
990	*	Constant Contact Inc		21,285
3,726	*	CoStar Group, Inc		176,054
3,396	*	CSG Systems International, Inc		49,989
12,464	*	Cybersource Corp		221,485
660	*	Data Domain, Inc		17,384
6,951	*	DealerTrack Holdings, Inc		232,650
1,230	*	Deltek, Inc		18,733
1,960	*	Dice Holdings, Inc		15,660
8,044	*	Digital River, Inc		266,015
4,325	*	DivX, Inc		60,550
1,654	*	Double-Take Software, Inc		35,925
616	*	DynCorp International, Inc (Class A)		16,558
5,845	*	Echelon Corp		120,641
8,887	*	Eclipsys Corp		224,930
11,303	e*	Epicor Software Corp		133,149
5,046	*	EPIQ Systems, Inc		87,851
6,989	*	Equinix, Inc		706,378
6,105	e*	Evergreen Energy, Inc		13,614
3,517	*	ExlService Holdings, Inc		81,172
6,264	*	FalconStor Software, Inc		70,533
867	*	First Advantage Corp (Class A)		14,279
2,786	*	Forrester Research, Inc		78,064
13,417	*	Gartner, Inc		235,603
1,628	e	Gevity HR, Inc		12,519
8,230	e*	Global Cash Access, Inc		49,874
3,454	e*	Global Sources Ltd		97,472
630	*	Guidance Software, Inc		8,782
3,474	*	H&E Equipment Services, Inc		65,589
8,090	e	Healthcare Services Group		171,346
3,213	e	Heartland Payment Systems, Inc		86,108
3,292		Heidrick & Struggles International, Inc		122,166
4,082	*	HMS Holdings Corp		135,563
1,430	e*	HSW International Inc		8,909
4,962	*	Hudson Highland Group, Inc		41,730
6,079	*	Hypercom Corp		30,273
1,062	e*	ICT Group, Inc		12,691
3,953	*	iGate Corp		33,482

206

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
6,110	*	IHS, Inc (Class A)	$	370,022
2,308	e	Imergent, Inc		24,442
17,022	*	Informatica Corp		306,736
3,298		Infospace, Inc		62,002
1,954		infoUSA, Inc		17,449
4,554	*	Innerworkings, Inc		78,602
2,419	e*	Innovative Solutions & Support, Inc		23,440
1,539	*	Integral Systems, Inc		35,797
2,480		Interactive Data Corp		81,865
2,529	*	Interactive Intelligence, Inc		66,639
9,520	e*	Internap Network Services Corp		79,302
6,904	*	Interwoven, Inc		98,175
6,055	*	inVentiv Health, Inc		187,463
5,649	e*	Ipass, Inc		22,935
15,307		Jack Henry & Associates, Inc		372,572
1,531	*	JDA Software Group, Inc		31,324
954		Kelly Services, Inc (Class A)		17,802
4,915	*	Kenexa Corp		95,449
4,752	*	Kforce, Inc		46,332
5,375	e*	Knot, Inc		85,678
7,575	*	Korn/Ferry International		142,562
2,360	e*	Limelight Networks, Inc		16,260
9,851	e*	Lionbridge Technologies		34,971
1,985	*	Liquidity Services, Inc		25,607
7,311	*	LivePerson, Inc		39,041
3,515	*	LoJack Corp		59,087
7,906	*	Magma Design Automation, Inc		96,532
4,296	*	Manhattan Associates, Inc		113,243
604	*	Mantech International Corp (Class A)		26,467
4,253	e	Marchex, Inc (Class B)		46,188
10,631	*	Mentor Graphics Corp		114,602
1,593	*	MicroStrategy, Inc (Class A)		151,494
6,156	e*	Midway Games, Inc		16,991
1,420	*	Monotype Imaging Holdings, Inc		21,541
19,840	*	Move, Inc		48,608
1,763	*	MPS Group, Inc		19,287
2,236	*	Ness Technologies, Inc		20,638
9,129	e*	NetFlix, Inc		243,014
5,190	*	Network Equipment Technologies, Inc		43,700
7,290		NIC, Inc		61,528
25,621	*	Nuance Communications, Inc		478,600
6,654	*	Omniture, Inc		221,512
1,290	*	On Assignment, Inc		9,043
5,335	*	Online Resources Corp		63,593
12,646	e*	OpenTV Corp (Class A)		16,693
5,935	e*	Packeteer, Inc		36,560
10,209	*	Parametric Technology Corp		182,231
2,549	*	PDF Solutions, Inc		22,966
390		Pegasystems, Inc		4,653
2,514	*	PeopleSupport, Inc		34,392
5,704	e*	Perficient, Inc		89,781
8,000	*	Phase Forward, Inc		174,000
3,105	e	Portfolio Recovery Associates, Inc		123,175
1,322	*	Premiere Global Services, Inc		19,632

207

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
7,974	*	Progress Software Corp	$	268,564
1,020	*	PROS Holdings, Inc		20,012
837	e	Protection One, Inc		9,952
1,713		QAD, Inc		15,999
3,310	e	Quality Systems, Inc		100,922
11,663	*	Quest Software, Inc		215,066
5,237	*	Radiant Systems, Inc		90,234
1,083	*	Radisys Corp		14,512
6,050	*	Raser Technologies, Inc		89,843
1,770	e	Renaissance Learning, Inc		24,780
3,521	*	RightNow Technologies, Inc		55,808
8,254		Rollins, Inc		158,486
2,200	*	RSC Holdings, Inc		27,610
15,867	*	Sapient Corp		139,788
483	e*	Secure Computing Corp		4,637
5,857	e*	Smith Micro Software, Inc		49,609
5,376	*	Sohu.com, Inc		293,100
3,176	*	SonicWALL, Inc		34,047
51,993	e*	Sonus Networks, Inc		303,119
12,853		Sotheby's		489,699
1,069	*	Sourcefire, Inc		8,915
5,499	*	Spherion Corp		40,033
3,571	*	SPSS, Inc		128,235
4,598	*	SRA International, Inc (Class A)		135,411
4,010	e*	Stratasys, Inc		103,618
1,480	e*	SuccessFactors Inc		17,494
1,807	*	Sybase, Inc		47,145
6,399	*	SYKES Enterprises, Inc		115,182
3,583	e*	Synchronoss Technologies, Inc		126,982
2,443	e	Syntel, Inc		94,104
12,512	e*	Take-Two Interactive Software, Inc		230,846
245		TAL International Group, Inc		5,579
3,148	*	Taleo Corp (Class A)		93,747
1,108	*	TechTarget, Inc		16,376
8,125	*	TeleTech Holdings, Inc		172,819
1,050	e	Textainer Group Holdings Ltd		15,257
4,028	e	TheStreet.com, Inc		64,126
13,010	*	THQ, Inc		366,752
920	*	Tiens Biotech Group USA, Inc		2,153
5,653	*	TradeStation Group, Inc		80,329
1,554	*	Travelzoo, Inc		21,259
8,802	e*	Trizetto Group, Inc		152,891
9,028	*	TrueBlue, Inc		130,725
4,796	*	Ultimate Software Group, Inc		150,930
2,077	*	Unica Corp		19,212
3,518		United Online, Inc		41,583
19,414	*	Valueclick, Inc		425,167
5,102	*	Vasco Data Security International		142,448
1,425	*	Veraz Networks, Inc		6,869
2,911	*	Vignette Corp		42,530
570	*	Virtusa Corp		9,878
4,001	*	Visual Sciences, Inc		73,938
2,546	*	Vocus, Inc		87,913
8,751	*	Websense, Inc		148,592

208

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
14,521	*	Wind River Systems, Inc	$	129,673
		TOTAL BUSINESS SERVICES		19,271,640
CHEMICALS AND ALLIED PRODUCTS - 10.23%
6,025	e*	Acadia Pharmaceuticals, Inc		66,697
4,752	e*	Acorda Therapeutics, Inc		104,354
6,926	*	Adams Respiratory Therapeutics, Inc		413,759
1,910	*	Albany Molecular Research, Inc		27,466
7,081	*	Alexion Pharmaceuticals, Inc		531,287
4,000	*	Alexza Pharmaceuticals, Inc		32,360
19,555	*	Alkermes, Inc		304,862
7,976	e*	Allos Therapeutics, Inc		50,169
6,788	e*	Alnylam Pharmaceuticals, Inc		197,395
3,253	e*	AMAG Pharmaceuticals, Inc		195,603
10,515	*	American Oriental Bioengineering, Inc		116,506
3,623		American Vanguard Corp		62,859
649	e*	Amicus Therapeutics, Inc		6,977
1,540	*	Animal Health International, Inc		18,942
7,625	e*	Arqule, Inc		44,225
9,250	e*	Array Biopharma, Inc		77,885
6,960	e*	Arrowhead Research Corp		26,309
6,077	*	Auxilium Pharmaceuticals, Inc		182,249
3,519	e*	Aventine Renewable Energy Holdings, Inc		44,902
3,504		Balchem Corp		78,420
1,979	*	Bentley Pharmaceuticals, Inc		29,863
1,094	e*	Biodel, Inc		25,414
1,650	e*	BioForm Medical, Inc		11,270
18,626	*	BioMarin Pharmaceuticals, Inc		659,360
2,182	e*	BioMimetic Therapeutics, Inc		37,901
8,528	e*	Bionovo, Inc		14,583
583	e*	Bradley Pharmaceuticals, Inc		11,485
3,105	e*	Cadence Pharmaceuticals, Inc		46,140
1,949	*	Caraco Pharmaceutical Laboratories Ltd		33,425
13,759	*	Cell Genesys, Inc		31,646
1,079		CF Industries Holdings, Inc		118,755
2,946	*	Chattem, Inc		222,541
10,766	*	Cubist Pharmaceuticals, Inc		220,811
7,202	*	Cypress Bioscience, Inc		79,438
4,974	*	Cytokinetics, Inc		23,527
16,237	e*	CytRx Corp		46,113
16,209	e*	Dendreon Corp		100,820
16,917	*	Discovery Laboratories, Inc		36,372
13,070	*	Durect Corp		84,040
11,990	e*	Encysive Pharmaceuticals, Inc		10,192
7,020	e*	Enzon Pharmaceuticals, Inc		66,901
13,790	*	GenVec, Inc		20,271
14,437	*	Geron Corp		82,002
3,092	e*	GTx, Inc		44,370
12,587	e*	Halozyme Therapeutics, Inc		89,494
10,731		Hercules, Inc		207,645
26,119	*	Human Genome Sciences, Inc		272,682
4,978	*	Idenix Pharmaceuticals, Inc		13,441
13,397	*	Immucor, Inc		455,364
10,338	e*	Indevus Pharmaceuticals, Inc		71,849

209

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,970		Innophos Holdings, Inc	$	29,314
1,464	e	Inter Parfums, Inc		26,308
5,014	e*	InterMune, Inc		66,837
5,184	*	Inverness Medical Innovations, Inc		291,237
7,977	e*	Javelin Pharmaceuticals, Inc		29,834
1,010	e*	Jazz Pharmaceuticals, Inc		14,847
2,934		Kaiser Aluminum Corp		233,194
8,483	e*	Keryx Biopharmaceuticals, Inc		71,257
1,901		Koppers Holdings, Inc		82,199
517	e	Kronos Worldwide, Inc		9,022
6,881	e*	KV Pharmaceutical Co (Class A)		196,384
4,045	*	Landec Corp		54,203
17,642	e	Ligand Pharmaceuticals, Inc (Class B)		85,211
3,340	e	Mannatech, Inc		21,109
390	*	MAP Pharmaceuticals Inc		6,829
24,497	e*	Medarex, Inc		255,259
10,066	*	Medicines Co		192,865
10,858	e	Medicis Pharmaceutical Corp (Class A)		281,982
4,160	e*	Medivation, Inc		59,904
7,725		Meridian Bioscience, Inc		232,368
15,510	*	MGI Pharma, Inc		628,620
8,859	e*	Minrad International, Inc		28,792
1,330	e*	Molecular Insight Pharmaceuticals, Inc		12,050
1,760	*	Momenta Pharmaceuticals, Inc		12,566
5,401	*	Nabi Biopharmaceuticals		19,498
1,220	*	Nanosphere Inc		17,068
5,030	e*	Nastech Pharmaceutical Co, Inc		19,114
3,914	*	Neurocrine Biosciences, Inc		17,770
546		NewMarket Corp		30,407
1,101	*	Novacea, Inc		3,281
4,670	e*	Noven Pharmaceuticals, Inc		64,820
1,100	e*	Obagi Medical Products, Inc		20,119
2,662	*	Omrix Biopharmaceuticals, Inc		92,478
10,631	*	Onyx Pharmaceuticals, Inc		591,296
8,990	*	OraSure Technologies, Inc		79,921
1,347	e*	Orexigen Therapeutics, Inc		19,195
11,212	e*	OSI Pharmaceuticals, Inc		543,894
2,494	e*	Osiris Therapeutics, Inc		29,978
4,393	e*	Pacific Ethanol, Inc		36,067
7,005	*	Pain Therapeutics, Inc		74,253
6,271	*	Par Pharmaceutical Cos, Inc		150,504
5,410	*	Parexel International Corp		261,303
4,298	*	Penwest Pharmaceuticals Co		25,143
7,858		Perrigo Co		275,109
4,038	*	PetMed Express, Inc		48,860
1,440	e*	PharMerica Corp		19,987
5,054	*	Pharmion Corp		317,694
4,804	*	Poniard Pharmaceuticals, Inc		21,186
4,720	e*	Pozen, Inc		56,640
4,969	*	Progenics Pharmaceuticals, Inc		89,790
360	*	Protalix BioTherapeutics, Inc		1,224
5,582	e*	Quidel Corp		108,682
8,169	e*	Salix Pharmaceuticals Ltd		64,372
10,392	*	Santarus, Inc		28,578

210

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,800	*	Sciele Pharma, Inc	$	118,610
2,206	*	Somaxon Pharmaceuticals, Inc		11,493
610	*	Sucampo Pharmaceuticals Inc		11,187
10,520	*	SuperGen, Inc		38,398
2,946	e*	SurModics, Inc		159,879
717	e*	Synta Pharmaceuticals Corp		4,804
6,641	e*	Tercica, Inc		45,026
1,830	e*	Trubion Pharmaceuticals, Inc		18,300
5,784		UAP Holding Corp		223,262
1,400	e*	Ulta Salon Cosmetics & Fragrance, Inc		24,010
4,034	*	United Therapeutics Corp		393,920
1,220	*	US BioEnergy Corp		14,286
1,625	e*	USANA Health Sciences, Inc		60,255
18,487	*	Valeant Pharmaceuticals International		221,289
5,260	e*	Vanda Pharmaceuticals, Inc		36,189
6,739	e*	Verasun Energy Corp		102,972
12,112	e*	Viropharma, Inc		96,169
3,140	*	Visicu, Inc		37,272
5,197	*	WR Grace & Co		136,057
4,192	*	Xenoport, Inc		234,249
21,907	*	XOMA Ltd		74,265
7,517	e*	Zymogenetics, Inc		87,723
		TOTAL CHEMICALS AND ALLIED PRODUCTS		13,950,978
COAL MINING - 0.35%
12,748	*	Alpha Natural Resources, Inc		414,055
12,708	e*	International Coal Group, Inc		68,115
		TOTAL COAL MINING		482,170
COMMUNICATIONS - 2.32%
4,992	e*	Anixter International, Inc		310,852
1,042	e*	Aruba Networks, Inc		15,536
8,868	*	Brightpoint, Inc		136,212
4,013	*	Cbeyond Communications, Inc		156,467
4,511	e	Centennial Communications Corp		41,907
12,218	e	Citadel Broadcasting Corp		25,169
2,157		Consolidated Communications Holdings, Inc		42,924
2,165	e*	Crown Media Holdings, Inc (Class A)		14,073
2,755	e*	Cumulus Media, Inc (Class A)		22,150
6,175	*	Entravision Communications Corp (Class A)		48,350
639	e	Fairpoint Communications, Inc		8,320
24,647	*	Foundry Networks, Inc		431,815
1,262	*	General Communication, Inc (Class A)		11,043
2,337	*	GeoEye, Inc		78,640
2,921	e*	Global Crossing Ltd		64,408
3,675	e*	Globalstar, Inc		29,400
1,293	*	Golden Telecom, Inc		130,528
4,872	*	Harris Stratex Networks, Inc (Class A)		81,362
1,184	*	Hughes Communications, Inc		64,658
330	e*	Hungarian Telephone & Cable		5,838
6,797	e	Ibasis, Inc		34,869
8,446	e*	ICO Global Communications Holdings Ltd		26,858
2,455		iPCS, Inc		88,355
9,604	*	j2 Global Communications, Inc		203,317

211

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,544	*	Knology, Inc	$	32,512
3,219	e*	Lodgenet Entertainment Corp		56,139
6,659	*	Mastec, Inc		67,722
550	*	Neutral Tandem Inc		10,461
497	*	Nexstar Broadcasting Group, Inc (Class A)		4,543
2,469	e*	North Pittsburgh Systems, Inc		56,022
6,228	*	Novatel Wireless, Inc		100,894
5,395		NTELOS Holdings Corp		160,178
4,747	*	Orbcomm, Inc		29,859
6,260	*	PAETEC Holding Corp		61,035
1,020	*	Rural Cellular Corp (Class A)		44,972
3,734	*	SAVVIS, Inc		104,216
600		Shenandoah Telecom Co		14,388
4,536	e	Sinclair Broadcast Group, Inc (Class A)		37,241
5,754	e*	Spanish Broadcasting System, Inc (Class A)		10,645
2,380	*	Switch & Data Facilities Co, Inc		38,128
9,865	e*	Terremark Worldwide, Inc		64,123
18,970	e*	TiVo, Inc		158,210
2,270	*	Virgin Mobile USA, Inc		20,180
7,537	e*	Vonage Holdings Corp		17,335
		TOTAL COMMUNICATIONS		3,161,854
DEPOSITORY INSTITUTIONS - 1.33%
720		Abington Bancorp, Inc		6,768
1,892		Bank of the Ozarks, Inc		49,570
610	e*	Beneficial Mutual Bancorp, Inc		5,929
442	e	Cascade Bancorp		6,153
1,364	e	Cass Information Systems, Inc		45,571
338	e	City Bank		7,578
1,647	e	CoBiz, Inc		24,491
3,122	*	Dollar Financial Corp		95,814
1,532	e	Enterprise Financial Services Corp		36,477
8,913	*	Euronet Worldwide, Inc		267,390
327	e	First Busey Corp		6,494
210	e	First Financial Bankshares, Inc		7,907
1,716	e	First South Bancorp, Inc		38,078
495	e	Frontier Financial Corp		9,192
1,027	e	K-Fed Bancorp		10,362
8,137	*	Net 1 UEPS Technologies, Inc		238,902
10,569	e	NewAlliance Bancshares, Inc		121,755
1,070	*	Oritani Financial Corp		13,161
1,694	e*	Pinnacle Financial Partners, Inc		43,061
267		Preferred Bank		6,947
2,211	e	PrivateBancorp, Inc		72,189
1,389	e	QC Holdings, Inc		15,626
1,567	e	Sierra Bancorp		39,003
5,472	*	Signature Bank		184,680
280	e	Southside Bancshares, Inc		5,729
1,639		Suffolk Bancorp		50,334
3,823	e*	Superior Bancorp		20,530
1,233	e*	SVB Financial Group		62,143
517	*	Texas Capital Bancshares, Inc		9,435
14,580	e	Trustco Bank Corp NY		144,634
300		United Bankshares, Inc		8,406

212

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,563	e	United Security Bancshares	$	23,883
2,892	e*	Virginia Commerce Bancorp		33,923
252	e*	Wauwatosa Holdings, Inc		3,231
1,477	e	Westamerica Bancorporation		65,800
1,848	e*	Western Alliance Bancorp		34,687
470		Wilshire Bancorp, Inc		3,690
		TOTAL DEPOSITORY INSTITUTIONS		1,819,523
EATING AND DRINKING PLACES - 1.93%
3,245	*	AFC Enterprises		36,733
2,130	*	Benihana, Inc (Class A)		27,158
3,188	e*	BJ's Restaurants, Inc		51,837
3,000	e*	Buffalo Wild Wings, Inc		69,660
5,662	*	California Pizza Kitchen, Inc		88,157
1,999	*	Carrols Restaurant Group, Inc		19,150
2,890		CBRL Group, Inc		93,607
2,630	*	CEC Entertainment, Inc		68,275
6,376	e*	Chipotle Mexican Grill, Inc (Class B)		784,567
11,132	e	CKE Restaurants, Inc		146,942
18,685	*	Denny's Corp		70,069
1,507	e	IHOP Corp		55,126
6,638	*	Jack in the Box, Inc		171,061
13,137	e*	Krispy Kreme Doughnuts, Inc		41,513
2,819	*	McCormick & Schmick's Seafood Restaurants, Inc		33,631
1,033	*	Morton's Restaurant Group, Inc		9,638
2,513	*	Papa John's International, Inc		57,045
5,011	*	PF Chang's China Bistro, Inc		114,451
3,237	*	Red Robin Gourmet Burgers, Inc		103,552
8,508		Ruby Tuesday, Inc		82,953
3,501	e*	Ruth's Chris Steak House, Inc		31,299
11,809	*	Sonic Corp		258,617
10,251	e*	Texas Roadhouse, Inc (Class A)		113,376
12,155	e	Triarc Cos (Class B)		106,478
		TOTAL EATING AND DRINKING PLACES		2,634,895
EDUCATIONAL SERVICES - 1.08%
890	*	American Public Education, Inc		37,184
16,849	*	Corinthian Colleges, Inc		259,475
11,657		DeVry, Inc		605,698
595	*	Lincoln Educational Services Corp		8,758
2,826		Strayer Education, Inc		482,059
4,435	e*	Universal Technical Institute, Inc		75,395
		TOTAL EDUCATIONAL SERVICES		1,468,569
ELECTRIC, GAS, AND SANITARY SERVICES - 1.34%
2,888		American Ecology Corp		67,810
1,946	*	Clean Energy Fuels Corp		29,462
3,231	*	Clean Harbors, Inc		167,043
2,797	e	Consolidated Water Co, Inc		70,456
7,173		Crosstex Energy, Inc		267,123
3,070	*	EnergySolutions Inc		82,859
434	e	EnergySouth, Inc		25,172
596	e*	EnerNOC, Inc		29,264
8,266		ITC Holdings Corp		466,368

213

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,245		Markwest Hydrocarbon, Inc	$	77,999
430		Metal Management, Inc		19,578
2,665		Ormat Technologies, Inc		146,602
2,603	*	Pike Electric Corp		43,626
200	e	SJW Corp		6,934
9,544	*	Waste Connections, Inc		294,910
1,019		Waste Industries USA, Inc		36,990
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		1,832,196
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.41%
4,126	*	Acme Packet, Inc		51,946
6,015		Acuity Brands, Inc		270,675
5,928		Adtran, Inc		126,741
7,422	*	Advanced Analogic Technologies, Inc		83,720
6,967	*	Advanced Energy Industries, Inc		91,128
850	e*	Airvana, Inc		4,616
7,900	e*	American Superconductor Corp		215,986
13,008	*	AMIS Holdings, Inc		130,340
20,352	e*	Amkor Technology, Inc		173,603
11,332	e*	Anadigics, Inc		131,111
5,033	*	Applied Micro Circuits Corp		43,988
24,218	*	Arris Group, Inc		241,701
10,751	*	Atheros Communications, Inc		328,336
5,794	*	ATMI, Inc		186,857
37,897	*	Avanex Corp		37,897
2,353	*	AZZ, Inc		66,708
8,902		Baldor Electric Co		299,641
2,582	*	Benchmark Electronics, Inc		45,779
2,844	e*	BigBand Networks, Inc		14,618
3,742	*	Ceradyne, Inc		175,612
4,504	*	Comtech Telecommunications Corp		243,261
27,151	e*	Conexant Systems, Inc		22,535
1,435	*	CPI International, Inc		24,539
1,940		Cubic Corp		76,048
5,788	*	Diodes, Inc		174,045
2,005	e*	Ditech Networks, Inc		6,957
279	*	DSP Group, Inc		3,404
3,535	e*	DTS, Inc		90,390
1,516	*	EMS Technologies, Inc		45,844
7,699	e*	Energy Conversion Devices, Inc		259,071
16,630	e*	Evergreen Solar, Inc		287,200
4,212	e*	Exar Corp		33,570
52,150	e*	Finisar Corp		75,618
3,753	e	Franklin Electric Co, Inc		143,627
12,892	e*	FuelCell Energy, Inc		127,889
44,567	*	Gemstar-TV Guide International, Inc		212,139
5,524	*	Genlyte Group, Inc		525,885
3,847	*	Greatbatch, Inc		76,902
15,435	*	Harmonic, Inc		161,759
18,340	*	Hexcel Corp		445,295
3,182	*	Hittite Microwave Corp		151,972
1,780	*	Infinera Corp		26,415
9,122	e*	InterDigital, Inc		212,816
7,650	*	InterVoice, Inc		61,124

214

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,987	*	IPG Photonics Corp	$	39,720
3,090	e*	iRobot Corp		55,867
3,099	*	IXYS Corp		24,854
1,334	*	Littelfuse, Inc		43,969
8,848	*	Mattson Technology, Inc		75,739
4,339	e*	Medis Technologies Ltd		66,951
433	e,m,v*	Medis Technologies Ltd		0
10,909		Micrel, Inc		92,181
14,830	*	Microsemi Corp		328,336
10,729	*	Microtune, Inc		70,060
8,573	e*	MIPS Technologies, Inc		42,522
4,648	*	Monolithic Power Systems, Inc		99,793
1,807	*	Moog, Inc (Class A)		82,779
646	*	Multi-Fineline Electronix, Inc		11,202
3,204	e*	Netlogic Microsystems, Inc		103,169
2,838	*	Omnivision Technologies, Inc		44,415
47,210	e*	ON Semiconductor Corp		419,225
22,592	e*	On2 Technologies, Inc		23,044
1,869	*	Oplink Communications, Inc		28,689
3,591	*	OpNext, Inc		31,780
1,010	*	Optium Corp		7,959
1,374	*	OSI Systems, Inc		36,370
1,421	*	Pericom Semiconductor Corp		26,573
5,455	*	Plexus Corp		143,248
5,319	*	PLX Technology, Inc		49,467
38,612	*	PMC - Sierra, Inc		252,522
17,827	*	Polycom, Inc		495,234
1,040	*	Polypore International, Inc		18,200
1,024	*	Powell Industries, Inc		45,128
3,109	e	Raven Industries, Inc		119,355
31,703	*	RF Micro Devices, Inc		181,024
840	*	Rubicon Technology Inc		19,950
2,818	*	Seachange International, Inc		20,374
9,904	*	Semtech Corp		153,710
1,010	*	ShoreTel, Inc		14,110
15,503	*	Silicon Image, Inc		70,074
4,244	*	Skyworks Solutions, Inc		36,074
9,762	*	Smart Modular Technologies WWH, Inc		99,377
1,587	*	Standard Microsystems Corp		62,004
1,340	e*	Starent Networks Corp		24,455
2,250	*	Supertex, Inc		70,403
12,990	*	Sycamore Networks, Inc		49,882
5,001	e*	Symmetricom, Inc		23,555
4,986	e*	Synaptics, Inc		205,224
9,921	e*	Syntax-Brillian Corp		30,557
2,956		Technitrol, Inc		84,482
2,946	e*	Techwell, Inc		32,435
9,315	*	Tessera Technologies, Inc		387,504
11,083	*	Trident Microsystems, Inc		72,704
865	*	TTM Technologies, Inc		10,086
470	*	Ultra Clean Holdings		5,734
3,171	e*	Universal Display Corp		65,545
2,805	*	Universal Electronics, Inc		93,799
10,613	e*	Utstarcom, Inc		29,186

215

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,707	*	Viasat, Inc	$	162,062
3,750	e	Vicor Corp		58,463
4,043	e*	Volterra Semiconductor Corp		44,594
4,850	*	Zoltek Cos, Inc		207,920
3,213	*	Zoran Corp		72,325
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		11,475,271
ENGINEERING AND MANAGEMENT SERVICES - 3.44%
3,509	*	Advisory Board Co		225,243
6,454	*	Aecom Technology Corp		184,391
830	*	Affymax, Inc		18,559
7,378	e*	Ariad Pharmaceuticals, Inc		31,357
449		CDI Corp		10,893
570	e*	China Architectural Engineering, Inc		4,931
760	*	comScore, Inc		24,799
1,931	*	CRA International, Inc		91,935
11,551	*	CV Therapeutics, Inc		104,537
5,289		Diamond Management & Technology Consultants, Inc		38,451
7,730	*	eResearch Technology, Inc		91,369
20,291	*	Exelixis, Inc		175,111
2,059	*	Exponent, Inc		55,675
4,025	*	Greenfield Online, Inc		58,805
5,954	*	Harris Interactive, Inc		25,364
3,628	*	Huron Consulting Group, Inc		292,526
9,971	*	Incyte Corp		100,209
8,254	e*	Isis Pharmaceuticals, Inc		130,001
2,467	*	Kendle International, Inc		120,686
8,002	*	Kosan Biosciences, Inc		28,807
910		Landauer, Inc		47,184
2,209	*	LECG Corp		33,268
6,594	e*	Lifecell Corp		284,267
6,975	e*	Luminex Corp		113,274
394		MAXIMUS, Inc		15,212
1,453	*	Michael Baker Corp		59,718
440	*	MTC Technologies, Inc		10,340
8,367	e*	Myriad Genetics, Inc		388,396
6,477	*	Navigant Consulting, Inc		88,541
6,320	*	Neurogen Corp		21,804
6,539	*	Omnicell, Inc		176,095
1,725	*	PharmaNet Development Group, Inc		67,637
5,514	*	Regeneration Technologies, Inc		47,862
12,380	e*	Regeneron Pharmaceuticals, Inc		298,977
30,960	*	Rentech, Inc		56,038
9,530		Resources Connection, Inc		173,065
4,993	*	Rigel Pharmaceuticals, Inc		126,772
10,330	e*	Savient Pharmaceuticals, Inc		237,280
9,495	e*	Seattle Genetics, Inc		108,243
5,621	e*	Senomyx, Inc		42,101
1,513	*	Stanley, Inc		48,446
3,648	*	Symyx Technologies, Inc		28,017
2,152	e*	Tejon Ranch Co		87,909
9,705	e*	Telik, Inc		33,676
6,744	*	Tetra Tech, Inc		144,996
8,177	e*	Verenium Corp		40,803

216

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,007		Watson Wyatt & Co Holdings (Class A)	$	93,145
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		4,686,715
ENVIRONMENTAL QUALITY AND HOUSING - 0.00%**
3,685	e*	Home Solutions of America, Inc		3,685
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		3,685
FABRICATED METAL PRODUCTS - 0.99%
171		Ameron International Corp		15,758
1,133		Aptargroup, Inc		46,351
1,760	*	Chart Industries, Inc		54,384
2,335		Dynamic Materials Corp		137,532
1,930		Gulf Island Fabrication, Inc		61,200
1,473	e	Insteel Industries, Inc		17,278
1,054	*	Ladish Co, Inc		45,522
443		Lifetime Brands, Inc		5,750
5,599	*	Mobile Mini, Inc		103,805
499	*	NCI Building Systems, Inc		14,366
594	*	PGT, Inc		2,827
2,626		Silgan Holdings, Inc		136,394
3,382	e	Simpson Manufacturing Co, Inc		89,927
5,807	e*	Smith & Wesson Holding Corp		35,423
4,140	e*	Sturm Ruger & Co, Inc		34,279
2,151	e	Sun Hydraulics Corp		54,270
12,131	e*	Taser International, Inc		174,565
3,612		Valmont Industries, Inc		321,901
		TOTAL FABRICATED METAL PRODUCTS		1,351,532
FOOD AND KINDRED PRODUCTS - 0.92%
3,984	e*	Altus Pharmaceuticals, Inc		20,637
1,379	e*	American Dairy, Inc		17,858
1,537	*	Boston Beer Co, Inc (Class A)		57,868
1,187		Coca-Cola Bottling Co Consolidated		69,891
15,767	*	Darling International, Inc		182,266
6,340		Flowers Foods, Inc		148,419
1,861		J&J Snack Foods Corp		58,212
5,155	*	Jones Soda Co		38,353
3,976		Lancaster Colony Corp		157,847
1,780		Lance, Inc		36,348
2,370	e*	M&F Worldwide Corp		127,624
149	e	MGP Ingredients, Inc		1,404
2,107		National Beverage Corp		16,940
2,660	*	Peet's Coffee & Tea, Inc		77,326
1,356	*	Ralcorp Holdings, Inc		82,431
1,935	e	Reddy Ice Holdings, Inc		48,975
2,010	e	Sanderson Farms, Inc		67,898
1,661	e	Tootsie Roll Industries, Inc		45,545
		TOTAL FOOD AND KINDRED PRODUCTS		1,255,842
FOOD STORES - 0.13%
198	e	Arden Group, Inc (Class A)		30,629
1,606		Great Atlantic & Pacific Tea Co, Inc		50,316
1,963		Ingles Markets, Inc (Class A)		49,841
1,761	*	Pantry, Inc		46,015

217

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
281	*	Winn-Dixie Stores, Inc	$	4,740
		TOTAL FOOD STORES		181,541
FURNITURE AND FIXTURES - 0.83%
422	e	Ethan Allen Interiors, Inc		12,027
12,351		Herman Miller, Inc		400,049
10,638		Interface, Inc (Class A)		173,612
2,744		Kimball International, Inc (Class B)		37,593
5,802	e	Sealy Corp		64,924
9,128	*	Select Comfort Corp		63,987
14,590	e	Tempur-Pedic International, Inc		378,902
		TOTAL FURNITURE AND FIXTURES		1,131,094
FURNITURE AND HOME FURNISHINGS STORES - 0.12%
490	e*	hhgregg, Inc		6,742
9,669		Knoll, Inc		158,862
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		165,604
GENERAL BUILDING CONTRACTORS - 0.57%
213	e	Amrep Corp		6,507
4,938		McGrath RentCorp		127,153
3,965	*	Perini Corp		164,230
3,098	*	Team, Inc		113,325
10,120		Walter Industries, Inc		363,612
		TOTAL GENERAL BUILDING CONTRACTORS		774,827
GENERAL MERCHANDISE STORES - 0.07%
4,841	e*	99 Cents Only Stores		38,534
845	e	Bon-Ton Stores, Inc		8,019
1,033	e*	Cabela's, Inc		15,567
158	e*	Conn's, Inc		2,703
5,143	e*	Retail Ventures, Inc		26,178
1,544	e	Stein Mart, Inc		7,319
		TOTAL GENERAL MERCHANDISE STORES		98,320
HEALTH SERVICES - 2.03%
2,988	*	Alliance Imaging, Inc		28,745
4,744	e*	Amedisys, Inc		230,179
2,237	e*	American Dental Partners, Inc		22,437
3,584	*	Apria Healthcare Group, Inc		77,307
3,336	*	Assisted Living Concepts, Inc (A Shares)		25,020
2,181	e*	Bio-Reference Labs, Inc		71,275
1,506	*	Corvel Corp		34,668
461	e*	Cross Country Healthcare, Inc		6,565
4,510	*	CryoLife, Inc		35,855
2,363	*	eHealth, Inc		75,876
1,353	e*	Emeritus Corp		34,028
6,104	*	Enzo Biochem, Inc		77,765
1,290	*	FGX International Holdings Ltd		15,286
2,652	*	Genomic Health, Inc		60,041
910	*	Genoptix Inc		27,937
1,785	*	Gentiva Health Services, Inc		33,986
6,819	*	Healthways, Inc		398,502
6,007	e*	Hythiam, Inc		17,600

218

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
10,235	*	Immunomedics, Inc	$	23,745
3,990		LCA-Vision, Inc		79,680
2,842	*	LHC Group, Inc		70,993
1,260	*	Magellan Health Services, Inc		58,754
3,352	*	Matria Healthcare, Inc		79,677
572	*	Medcath Corp		14,048
914	e	National Healthcare Corp		47,254
17,845	*	Nektar Therapeutics		119,740
4,104	*	Nighthawk Radiology Holdings, Inc		86,389
430	*	Odyssey HealthCare, Inc		4,756
10,555	*	Psychiatric Solutions, Inc		343,037
2,464	*	Radiation Therapy Services, Inc		76,162
1,173	e*	Sirtris Pharmaceuticals, Inc		16,058
2,375	*	Skilled Healthcare Group, Inc (Class A)		34,746
5,188	e*	Stereotaxis, Inc		63,397
8,354	*	Sun Healthcare Group, Inc		143,438
7,408	e*	Sunrise Senior Living, Inc		227,277
590	e*	Virtual Radiologic Corp		11,965
		TOTAL HEALTH SERVICES		2,774,188
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.22%
807	e*	Comverge, Inc		25,412
4,012		Granite Construction, Inc		145,154
1,890		Great Lakes Dredge & Dock Corp		16,481
5,167	*	Matrix Service Co		112,744
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		299,791
HOLDING AND OTHER INVESTMENT OFFICES - 5.22%
6,246	e	Acadia Realty Trust		159,960
393	e*	Alexander's, Inc		138,827
3,094		Alexandria Real Estate Equities, Inc		314,567
2,952		Associated Estates Realty Corp		27,867
1,134	e	Cherokee, Inc		36,594
764		Corporate Office Properties Trust		24,066
7,886		Cousins Properties, Inc		174,281
10,964		Digital Realty Trust, Inc		420,689
3,752		EastGroup Properties, Inc		157,021
3,918		Equity Lifestyle Properties, Inc		178,935
12,131		FelCor Lodging Trust, Inc		189,122
5,379	e	First Industrial Realty Trust, Inc		186,113
3,268		Getty Realty Corp		87,190
7,215	e	Glimcher Realty Trust		103,102
7,817		Highwoods Properties, Inc		229,663
4,982		Home Properties, Inc		223,443
1,988	e	Inland Real Estate Corp		28,150
28,300	e	iShares Russell 2000 Growth Index Fund		2,362,484
2,743	e	JER Investors Trust, Inc		29,542
3,139	e	Maguire Properties, Inc		92,506
4,949		Mid-America Apartment Communities, Inc		211,570
389	e	National Health Investors, Inc		10,853
15,410		Nationwide Health Properties, Inc		483,412
8,482	e*	NexCen Brands, Inc		41,053
13,083		Omega Healthcare Investors, Inc		209,982
2,812		PennantPark Investment Corp		28,176

219

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,419		Post Properties, Inc	$	49,835
3,096		PS Business Parks, Inc		162,695
1,230	e	Quadra Realty Trust, Inc		9,889
2,318		Ramco-Gershenson Properties		49,536
2,094		Saul Centers, Inc		111,882
3,040		Sun Communities, Inc		64,053
6,084	e	Tanger Factory Outlet Centers, Inc		229,428
701		Universal Health Realty Income Trust		24,843
8,757	e	Washington Real Estate Investment Trust		275,057
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		7,126,386
HOTELS AND OTHER LODGING PLACES - 0.53%
2,064		Ameristar Casinos, Inc		56,843
3,444	*	Gaylord Entertainment Co		139,379
341	*	Isle of Capri Casinos, Inc		4,696
1,488		Marcus Corp		22,990
2,360	*	Monarch Casino & Resort, Inc		56,829
4,330	*	Morgans Hotel Group Co		83,482
1,000	*	Riviera Holdings Corp		30,800
6,102	e*	Vail Resorts, Inc		328,349
		TOTAL HOTELS AND OTHER LODGING PLACES		723,368
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.08%
1,030	*	3PAR, Inc		13,184
2,680		Aaon, Inc		53,118
9,340		Actuant Corp (Class A)		317,653
2,079	*	Altra Holdings, Inc		34,574
140		Ampco-Pittsburgh Corp		5,338
3,653	*	Astec Industries, Inc		135,855
2,492	*	ASV, Inc		34,514
9,434	*	Asyst Technologies, Inc		30,755
920	*	AuthenTec, Inc		13,368
1,166	*	Brooks Automation, Inc		15,403
7,265		Bucyrus International, Inc (Class A)		722,068
444		Cascade Corp		20,628
9,252	*	Cirrus Logic, Inc		48,851
2,026	*	Columbus McKinnon Corp		66,088
3,683	*	Cray, Inc		22,061
4,064		Curtiss-Wright Corp		204,013
4,777	*	Cymer, Inc		185,969
5,182	*	Dril-Quip, Inc		288,430
9,862	*	Emulex Corp		160,948
3,418	*	ENGlobal Corp		38,828
3,006	*	Entegris, Inc		25,942
1,610	*	Extreme Networks, Inc		5,699
3,552	e*	Flotek Industries, Inc		128,014
7,285	*	Flow International Corp		67,896
3,445	e*	Fuel Tech, Inc		78,029
5,968	*	Goodman Global, Inc		146,455
2,785		Gorman-Rupp Co		86,892
1,037	*	Hurco Cos, Inc		45,265
11,787	*	Intermec, Inc		239,394
4,164	*	Intevac, Inc		60,545
1,377	e*	Isilon Systems, Inc		6,995

220

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
210	*	Kadant, Inc	$	6,231
4,517	e	Kaydon Corp		246,357
9,342	*	Kulicke & Soffa Industries, Inc		64,086
863	e	Lindsay Manufacturing Co		61,005
2,924		Lufkin Industries, Inc		167,516
7,881	*	Micros Systems, Inc		552,931
2,654	*	Middleby Corp		203,349
3,383	*	NATCO Group, Inc (Class A)		183,189
1,290	*	Netezza Corp		17,802
6,732	*	Netgear, Inc		240,130
4,981		Nordson Corp		288,699
472	*	Rackable Systems, Inc		4,720
4,131	*	RBC Bearings, Inc		179,533
1,563	*	Rimage Corp		40,560
1,063		Sauer-Danfoss, Inc		26,628
4,485	*	Scansource, Inc		145,090
1,173	e*	Semitool, Inc		10,182
5,463	e*	Sigma Designs, Inc		301,558
13,098	e*	SourceForge, Inc		32,090
1,729	e*	STEC, Inc		15,111
2,016	*	Super Micro Computer, Inc		15,463
1,171	*	T-3 Energy Services, Inc		55,049
1,684		Tennant Co		74,584
3,724	e*	TurboChef Technologies, Inc		61,446
890		Twin Disc, Inc		62,985
2,485	*	Ultratech, Inc		28,180
4,135	e	Watsco, Inc		152,003
5,827		Woodward Governor Co		395,945
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		6,935,194
INSTRUMENTS AND RELATED PRODUCTS - 9.49%
4,065	*	Abaxis, Inc		145,771
5,418	e*	Abiomed, Inc		84,196
3,200	*	Accuray, Inc		48,704
13,346	*	Affymetrix, Inc		308,826
11,515	*	Align Technology, Inc		192,070
14,016	e*	American Medical Systems Holdings, Inc		202,671
1,845		American Science & Engineering, Inc		104,704
382	*	Anaren, Inc		6,299
1,844	*	Angiodynamics, Inc		35,110
871	*	Argon ST, Inc		16,166
5,350	e*	Arthrocare Corp		257,067
3,074	e*	Aspect Medical Systems, Inc		43,036
2,265		Badger Meter, Inc		101,812
12,704	*	Bruker BioSciences Corp		168,963
10,710	e*	Cepheid, Inc		282,208
1,981		Cohu, Inc		30,309
2,545	*	Cutera, Inc		39,956
4,325	*	Cyberonics, Inc		56,917
1,480	e*	Cynosure, Inc (Class A)		39,161
3,699	*	Dionex Corp		306,499
2,245	*	Eagle Test Systems, Inc		28,691
5,048	*	ESCO Technologies, Inc		201,617
1,134	*	Esterline Technologies Corp		58,685

221

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
9,136	*	ev3, Inc	$	116,119
425	*	Excel Technology, Inc		11,518
3,239	*	FARO Technologies, Inc		88,036
7,615	*	FEI Co		189,080
25,786	*	Flir Systems, Inc		807,102
9,286	*	Formfactor, Inc		307,367
8,484	*	Fossil, Inc		356,158
4,780	*	Haemonetics Corp		301,236
23,752	*	Hologic, Inc		1,630,337
1,687	e*	ICU Medical, Inc		60,749
620	e*	ICx Technologies Inc		5,964
4,085	*	I-Flow Corp		64,461
4,609	*	II-VI, Inc		140,805
10,426	*	Illumina, Inc		617,845
1,262	*	Insulet Corp		29,632
3,495	e*	Integra LifeSciences Holdings Corp		146,545
13,829	*	ION Geophysical Corp		218,222
6,305	e*	Ionatron, Inc		18,032
5,834	*	Itron, Inc		559,889
5,706	*	Ixia		54,093
1,654	*	Kensey Nash Corp		49,488
6,153	e*	L-1 Identity Solutions, Inc		110,446
12,134	e*	LTX Corp		38,586
2,380	*	Masimo Corp		93,891
1,173	*	Measurement Specialties, Inc		25,923
2,195	*	Medical Action Industries, Inc		45,766
6,576	e	Mentor Corp		257,122
521	*	Merit Medical Systems, Inc		7,242
3,023	e*	Micrus Endovascular Corp		59,493
2,064		Mine Safety Appliances Co		107,060
401	*	MKS Instruments, Inc		7,675
2,129		MTS Systems Corp		90,844
4,274	*	Natus Medical, Inc		82,702
3,779	e*	Northstar Neuroscience, Inc		35,145
6,715	*	NuVasive, Inc		265,377
3,798	*	NxStage Medical, Inc		57,616
1,874	*	Orthofix International NV		108,636
789	*	OYO Geospace Corp		59,459
3,636	*	Palomar Medical Technologies, Inc		55,704
5,418	*	Rofin-Sinar Technologies, Inc		260,660
2,809	*	Rudolph Technologies, Inc		31,798
11,647	*	Sirf Technology Holdings, Inc		292,689
3,344	e	Sirona Dental Systems, Inc		111,957
5,121	*	Sonic Innovations, Inc		39,534
1,020	e*	Sonic Solutions, Inc		10,598
3,240	*	SonoSite, Inc		109,091
6,239	*	Spectranetics Corp		95,644
5,831		STERIS Corp		168,166
555	*	Symmetry Medical, Inc		9,674
5,754	*	Teledyne Technologies, Inc		306,861
10,351	*	Thoratec Corp		188,285
1,030	*	Trans1, Inc		16,964
3,471	*	Varian, Inc		226,656
723	e*	Veeco Instruments, Inc		12,074

222

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,212	*	Ventana Medical Systems, Inc	$	454,643
3,069	e*	Vital Images, Inc		55,457
1,961		Vital Signs, Inc		100,246
10,874	*	Vivus, Inc		56,327
5,610	*	Volcano Corp		70,181
6,519	*	Wright Medical Group, Inc		190,159
1,339	*	X-Rite, Inc		15,559
3,001	*	Zoll Medical Corp		80,187
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		12,944,213
INSURANCE AGENTS, BROKERS AND SERVICE - 0.18%
435		Hilb Rogal & Hobbs Co		17,648
4,916	e	National Financial Partners Corp		224,219
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		241,867
INSURANCE CARRIERS - 0.68%
3,627	e	Amtrust Financial Services, Inc		49,944
5,869	*	Centene Corp		161,045
930	e*	Citizens, Inc		5,143
910	*	Darwin Professional Underwriters, Inc		21,995
1,362	*	Enstar Group Ltd		166,736
1,312	*	First Mercury Financial Corp		32,013
290	e*	Greenlight Capital Re Ltd (Class A)		6,029
6,013	*	HealthExtras, Inc		156,819
5,807	*	Healthspring, Inc		110,623
288		National Interstate Corp		9,533
1,384	e*	Primus Guaranty Ltd		9,702
3,877		Tower Group, Inc		129,492
2,199	*	Universal American Financial Corp		56,272
320	*	Validus Holdings Ltd		8,314
		TOTAL INSURANCE CARRIERS		923,660
JUSTICE, PUBLIC ORDER AND SAFETY - 0.20%
9,806	*	Geo Group, Inc		274,568
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		274,568
LEATHER AND LEATHER PRODUCTS - 0.42%
3,684	e*	Genesco, Inc		139,255
9,865	*	Iconix Brand Group, Inc		193,946
1,965		Steven Madden Ltd		39,300
3,202	*	Timberland Co (Class A)		57,892
5,719		Wolverine World Wide, Inc		140,230
		TOTAL LEATHER AND LEATHER PRODUCTS		570,623
LEGAL SERVICES - 0.49%
9,219	*	FTI Consulting, Inc		568,259
1,769	e*	Pre-Paid Legal Services, Inc		97,914
		TOTAL LEGAL SERVICES		666,173
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.04%
1,754	e*	Emergency Medical Services Corp (Class A)		51,357
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		51,357

223

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
LUMBER AND WOOD PRODUCTS - 0.16%
12,531	*	Champion Enterprises, Inc	$	118,042
2,040		Deltic Timber Corp		105,040
		TOTAL LUMBER AND WOOD PRODUCTS		223,082
METAL MINING - 0.70%
11,409	*	Apex Silver Mines Ltd		173,873
45,214	e*	Coeur d'Alene Mines Corp		223,357
23,395	e*	Hecla Mining Co		218,743
5,403	*	Rosetta Resources, Inc		107,141
1,842	e	Royal Gold, Inc		56,218
5,698	e*	ShengdaTech, Inc		82,336
447	e*	Stillwater Mining Co		4,318
4,820	e*	Uranium Resources, Inc		60,154
9,804	*	US Gold Corp		29,020
		TOTAL METAL MINING		955,160
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.18%
533		Blyth, Inc		11,694
6,178		Daktronics, Inc		139,437
429	e	Marine Products Corp		3,007
2,824	e	Nautilus, Inc		13,696
6,860	e*	Shuffle Master, Inc		82,251
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		250,085
MISCELLANEOUS RETAIL - 1.83%
4,660	e*	1-800-FLOWERS.COM, Inc (Class A)		40,682
3,175	*	AC Moore Arts & Crafts, Inc		43,656
4,249		Big 5 Sporting Goods Corp		61,271
2,601	e*	Blue Nile, Inc		177,024
3,107	*	Build-A-Bear Workshop, Inc		43,343
5,472		Cash America International, Inc		176,746
6,829	*	CKX, Inc		81,948
7,276	*	Ezcorp, Inc (Class A)		82,146
1,041	e*	Gander Mountain Co		5,132
3,887	*	GSI Commerce, Inc		75,796
6,153	*	Hibbett Sports, Inc		122,937
6,053		Longs Drug Stores Corp		284,491
3,204	e*	Overstock.com, Inc		49,758
500	*	PC Connection, Inc		5,675
7,363	*	Priceline.com, Inc		845,714
867		Pricesmart, Inc		26,062
2,838	*	Shutterfly, Inc		72,710
3,071	*	Stamps.com, Inc		37,405
1,281	e	Systemax, Inc		26,030
5,161	e*	Valuevision International, Inc (Class A)		32,463
4,232		World Fuel Services Corp		122,855
3,357	e*	Zumiez, Inc		81,777
		TOTAL MISCELLANEOUS RETAIL		2,495,621
MOTION PICTURES - 0.76%
2,391	e	Cinemark Holdings, Inc		40,647
2,500	*	Gaiam, Inc (Class A)		74,200
10,309	*	Macrovision Corp		188,964
8,166		National CineMedia, Inc		205,865

224

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
26,028	e*	Time Warner Telecom, Inc (Class A)	$	528,108
		TOTAL MOTION PICTURES		1,037,784
MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS - 0.05%
5,786	e*	Premier Exhibitions, Inc		63,299
		TOTAL MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS		63,299
NONCLASSIFIABLE ESTABLISHMENTS - 0.07%
4,330	e*	Hicks Acquisition Co I, Inc		39,793
1,730	*	NRDC Acquisition Corp		15,864
3,780	*	Triplecrown Acquisition Corp		34,549
		TOTAL NONCLASSIFIABLE ESTABLISHMENTS		90,206
NONDEPOSITORY INSTITUTIONS - 0.65%
11,963		Advance America Cash Advance Centers, Inc		121,544
3,378		Advanta Corp (Class B)		27,260
3,060	e*	Aldabra 2 Acquisition Corp		29,804
3,060	*	Alternative Asset Management Acquisition Corp		27,999
1,425	e	Asta Funding, Inc		37,677
520	e	BlackRock Kelso Capital Corp		7,946
5,441	e	Centerline Holding Co		41,460
1,680		Chimera Investment Corp		30,038
2,325	e*	CompuCredit Corp		23,203
895	e*	Credit Acceptance Corp		18,500
530	*	Encore Capital Group, Inc		5,130
5,111	*	First Cash Financial Services, Inc		75,029
2,000	e*	Heckmann Corp		14,700
2,450	*	Information Services Group, Inc		16,782
7,782	e*	INVESTools, Inc		138,053
2,190	*	Mercadolibre, Inc		161,797
172	e	Nelnet, Inc (Class A)		2,186
1,244	e*	NewStar Financial, Inc		10,300
3,403	e*	World Acceptance Corp		91,813
		TOTAL NONDEPOSITORY INSTITUTIONS		881,221
NONMETALLIC MINERALS, EXCEPT FUELS - 0.12%
1,497	e	AMCOL International Corp		53,937
9,245	e*	General Moly Inc		107,889
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		161,826
OIL AND GAS EXTRACTION - 4.41%
1,888	e	APCO Argentina, Inc		51,958
1,370	*	Approach Resources, Inc		17,618
5,926	*	Arena Resources, Inc		247,173
4,441		Atlas America, Inc		262,818
4,154	*	ATP Oil & Gas Corp		209,943
5,330	*	Atwood Oceanics, Inc		534,279
5,812	e*	Basic Energy Services, Inc		127,573
3,060		Berry Petroleum Co (Class A)		136,017
4,752	*	Bill Barrett Corp		198,966
2,976	e*	Bois d'Arc Energy, Inc		59,074
4,504	e*	Cal Dive International, Inc		59,633
4,740	*	Carrizo Oil & Gas, Inc		259,515
8,314	*	Complete Production Services, Inc		149,403

225

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
6,388	*	Comstock Resources, Inc	$	217,192
3,690	*	Concho Resources, Inc		76,051
2,545	*	Contango Oil & Gas Co		129,515
1,405	*	Dawson Geophysical Co		100,401
12,778	e*	Delta Petroleum Corp		240,865
6,692	*	FX Energy, Inc		38,011
6,069	e*	GeoGlobal Resources, Inc		30,042
1,348	*	Geokinetics, Inc		26,219
2,244	*	GMX Resources, Inc		72,436
3,035	e*	Goodrich Petroleum Corp		68,652
2,603	*	Grey Wolf, Inc		13,874
3,843	*	Gulfport Energy Corp		70,173
16,146	*	Hercules Offshore, Inc		383,952
9,068	*	Mariner Energy, Inc		207,476
4,091	e*	McMoRan Exploration Co		53,551
14,605	*	Newpark Resources, Inc		79,597
7,331	*	Parallel Petroleum Corp		129,246
17,336	*	Parker Drilling Co		130,887
3,320		Penn Virginia Corp		144,852
17,018	*	PetroHawk Energy Corp		294,582
385	*	Petroleum Development Corp		22,765
8,155	e*	Petroquest Energy, Inc		116,616
880	*	Rex Energy Corp		10,498
5,988	e	RPC, Inc		70,119
5,792	e*	Sulphco, Inc		30,234
1,021	e*	Superior Offshore International, Inc		5,125
2,220	e*	Superior Well Services, Inc		47,108
6,563	e*	TXCO Resources, Inc		79,150
2,802	*	Venoco, Inc		55,844
10,738	*	Warren Resources, Inc		151,728
5,918	*	W-H Energy Services, Inc		332,651
7,181	*	Willbros Group, Inc		274,960
		TOTAL OIL AND GAS EXTRACTION		6,018,342
PAPER AND ALLIED PRODUCTS - 0.52%
10,444	e*	Cenveo, Inc		182,457
12,793	e*	Graphic Packaging Corp		47,206
6,457		Greif, Inc (Class A)		422,094
1,900		Neenah Paper, Inc		55,385
		TOTAL PAPER AND ALLIED PRODUCTS		707,142
PERSONAL SERVICES - 0.36%
1,462	*	Coinstar, Inc		41,155
989	e	CPI Corp		23,291
4,855	e	Jackson Hewitt Tax Service, Inc		154,146
18,211	*	Sally Beauty Holdings, Inc		164,810
2,495	*	Steiner Leisure Ltd		110,179
		TOTAL PERSONAL SERVICES		493,581
PETROLEUM AND COAL PRODUCTS - 0.18%
2,447		Alon USA Energy, Inc		66,509
3,170	*	CVR Energy Inc		79,060
1,406		Delek US Holdings, Inc		28,443
5,723	e*	Nova Biosource Fuels, Inc		16,597

226

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,367	e	WD-40 Co	$	51,905
		TOTAL PETROLEUM AND COAL PRODUCTS		242,514
PRIMARY METAL INDUSTRIES - 1.29%
8,761	e	Belden CDT, Inc		389,864
3,916	*	Brush Engineered Materials, Inc		144,970
3,108	*	Century Aluminum Co		167,646
1,759	e*	Coleman Cable, Inc		16,623
2,261	*	Haynes International, Inc		157,139
540	*	Horsehead Holding Corp		9,164
1,906	*	LB Foster Co (Class A)		98,597
6,147		Matthews International Corp (Class A)		288,110
4,478	*	RTI International Metals, Inc		308,669
2,182		Texas Industries, Inc		152,958
737	*	Universal Stainless & Alloy		26,215
		TOTAL PRIMARY METAL INDUSTRIES		1,759,955
PRINTING AND PUBLISHING - 0.54%
2,640	*	ACCO Brands Corp		42,346
1,655	*	Consolidated Graphics, Inc		79,142
1,368		Courier Corp		45,158
1,130	*	Dolan Media Co		32,962
4,861	e	Martha Stewart Living Omnimedia, Inc (Class A)		45,061
1,437		Multi-Color Corp		39,474
490		Schawk, Inc		7,605
1,106		Standard Register Co		12,896
7,461	e*	Sun-Times Media Group, Inc (Class A)		16,414
4,493	e*	Valassis Communications, Inc		52,523
8,390	e*	VistaPrint Ltd		359,511
		TOTAL PRINTING AND PUBLISHING		733,092
RAILROAD TRANSPORTATION - 0.06%
3,227	*	Genesee & Wyoming, Inc (Class A)		77,997
		TOTAL RAILROAD TRANSPORTATION		77,997
REAL ESTATE - 0.20%
1,106	e	Consolidated-Tomoka Land Co		69,324
2,700		DuPont Fabros Technology Inc		52,920
3,281		Grubb & Ellis Co		21,031
5,298	e*	LoopNet, Inc		74,437
4,707		Thomas Properties Group, Inc		50,741
		TOTAL REAL ESTATE		268,453
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.86%
1,181	*	AEP Industries, Inc		37,804
2,485	*	Deckers Outdoor Corp		385,324
2,838	e*	Metabolix, Inc		67,544
3,863	*	Skechers U.S.A., Inc (Class A)		75,367
4,686	e	Titan International, Inc		146,484
253	e*	Trex Co, Inc		2,153
5,920		Tupperware Corp		195,538
6,411	e	West Pharmaceutical Services, Inc		260,222
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,170,436

227

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
SECURITY AND COMMODITY BROKERS - 1.75%
291		Calamos Asset Management, Inc (Class A)	$	8,666
3,395	e	Cohen & Steers, Inc		101,748
820	*	Duff & Phelps Corp		16,138
1,885	e	Epoch Holding Corp		28,275
220		Evercore Partners, Inc (Class A)		4,741
1,650	*	FBR Capital Markets Corp		15,807
1,666	*	FCStone Group, Inc		76,686
224		GAMCO Investors, Inc (Class A)		15,501
3,110	*	GFI Group, Inc		297,689
3,480	e	Greenhill & Co, Inc		231,350
3,391	e*	Interactive Brokers Group, Inc (Class A)		109,597
341	*	KBW, Inc		8,726
8,350	*	Knight Capital Group, Inc (Class A)		120,240
19,096	e*	Ladenburg Thalmann Financial Services, Inc		40,484
6,165	e*	MarketAxess Holdings, Inc		79,097
2,386	*	Morningstar, Inc		185,511
8,499	e	optionsXpress Holdings, Inc		287,436
2,623	*	Penson Worldwide, Inc		37,640
470	e	Pzena Investment Management, Inc		5,358
2,909	*	Stifel Financial Corp		152,926
446		SWS Group, Inc		5,651
2,243	e	US Global Investors, Inc (Class A)		37,368
316		Value Line, Inc		12,722
13,644		Waddell & Reed Financial, Inc (Class A)		492,412
1,978	e*	WP Stewart & Co Ltd		10,108
		TOTAL SECURITY AND COMMODITY BROKERS		2,381,877
SOCIAL SERVICES - 0.17%
5,085	*	Bright Horizons Family Solutions, Inc		175,636
877	*	Capital Senior Living Corp		8,709
1,668	*	Providence Service Corp		46,937
		TOTAL SOCIAL SERVICES		231,282
SPECIAL TRADE CONTRACTORS - 0.41%
752	e	Alico, Inc		27,448
4,316		Chemed Corp		241,178
834		Comfort Systems USA, Inc		10,659
3,830	*	Dycom Industries, Inc		102,069
1,138	e*	Integrated Electrical Services, Inc		21,383
3,245	*	Layne Christensen Co		159,686
		TOTAL SPECIAL TRADE CONTRACTORS		562,423
STONE, CLAY, AND GLASS PRODUCTS - 0.29%
5,600		Apogee Enterprises, Inc		95,816
3,747	*	Cabot Microelectronics Corp		134,555
3,941	e	CARBO Ceramics, Inc		146,605
310		Libbey, Inc		4,910
3,402	*	US Concrete, Inc		11,329
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		393,215
TEXTILE MILL PRODUCTS - 0.02%
1,759	e*	Heelys, Inc		12,243

228

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,176		Xerium Technologies, Inc	$	16,515
		TOTAL TEXTILE MILL PRODUCTS		28,758
TOBACCO PRODUCTS - 0.06%
3,930	e	Vector Group Ltd		78,836
		TOTAL TOBACCO PRODUCTS		78,836
TRANSPORTATION BY AIR - 0.34%
2,026	*	Air Methods Corp		100,631
17,694	*	Airtran Holdings, Inc		126,689
1,010	*	Allegiant Travel Co		32,461
1,009	e*	ExpressJet Holdings, Inc		2,502
4,680	e*	JetBlue Airways Corp		27,612
4,851	*	Midwest Air Group, Inc		71,795
1,410	*	PHI, Inc		43,738
3,608	*	Pinnacle Airlines Corp		55,022
		TOTAL TRANSPORTATION BY AIR		460,450
TRANSPORTATION EQUIPMENT - 1.98%
6,770	*	AAR Corp		257,463
1,347	*	Aerovironment, Inc		32,597
1,835	e	American Railcar Industries, Inc		35,324
4,248	*	Amerigon, Inc		89,803
4,952		Clarcor, Inc		188,027
3,887	*	Comtech Group, Inc		62,620
12,469	e*	Fleetwood Enterprises, Inc		74,565
13,234	e*	Force Protection, Inc		61,935
133	e	Freightcar America, Inc		4,655
10,915	e*	GenCorp, Inc		127,269
1,700	e*	GenTek, Inc		49,759
19,475	*	Hayes Lemmerz International, Inc		89,001
4,969	e	Heico Corp		270,711
1,530		Kaman Corp		56,319
494	*	Miller Industries, Inc		6,763
2,347	e	Noble International Ltd		38,280
9,763	*	Orbital Sciences Corp		239,389
5,852	e	Polaris Industries, Inc		279,550
6,101	e	Spartan Motors, Inc		46,612
2,085	*	Tenneco, Inc		54,356
1,834	*	TransDigm Group, Inc		82,842
725	e	Triumph Group, Inc		59,704
12,975	e*	Visteon Corp		56,960
9,473		Westinghouse Air Brake Technologies Corp		326,250
5,380	e	Winnebago Industries, Inc		113,088
		TOTAL TRANSPORTATION EQUIPMENT		2,703,842
TRANSPORTATION SERVICES - 0.50%
2,854	e	Ambassadors Group, Inc		52,257
535	*	Ambassadors International, Inc		7,800
2,083	e*	Dynamex, Inc		56,366
7,541	*	HUB Group, Inc (Class A)		200,440
4,969	*	Lear Corp		137,443
3,830	*	Orbitz Worldwide, Inc		32,555
1,956		Pacer International, Inc		28,558

229

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
6,121	e	Ship Finance International Ltd	$	169,613
		TOTAL TRANSPORTATION SERVICES		685,032
TRUCKING AND WAREHOUSING - 0.28%
4,372	e*	Celadon Group, Inc		40,048
4,558		Forward Air Corp		142,073
3,598		Heartland Express, Inc		51,020
5,393	e*	Old Dominion Freight Line		124,632
610	*	Saia, Inc		8,113
508	*	Universal Truckload Services, Inc		9,733
		TOTAL TRUCKING AND WAREHOUSING		375,619
WATER TRANSPORTATION - 0.47%
9,738	e*	American Commercial Lines, Inc		158,145
2,580	e	Arlington Tankers Ltd		57,095
4,147	e	Double Hull Tankers, Inc		50,759
2,481	e	Eagle Bulk Shipping, Inc		65,871
242		Genco Shipping & Trading Ltd		13,252
1,571		Golar LNG Ltd		34,750
6,499	e	Horizon Lines, Inc (Class A)		121,141
3,075		Knightsbridge Tankers Ltd		74,261
7,940	*	Odyssey Marine Exploration, Inc		49,149
1,135	e*	Ultrapetrol Bahamas Ltd		19,306
		TOTAL WATER TRANSPORTATION		643,729
WHOLESALE TRADE-DURABLE GOODS - 1.49%
1,458		Applied Industrial Technologies, Inc		42,311
8,142		Barnes Group, Inc		271,861
7,876	*	Beacon Roofing Supply, Inc		66,316
994		Castle (A.M.) & Co		27,027
5,745	e*	Conceptus, Inc		110,534
687	*	Digi International, Inc		9,748
3,560	*	Drew Industries, Inc		97,544
1,517	*	Genesis Microchip, Inc		13,001
1,191	*	Glu Mobile, Inc		6,217
1,540	e*	Hansen Medical, Inc		46,108
3,382	e	Houston Wire & Cable Co		47,821
2,117	*	Interline Brands, Inc		46,383
11,125	e	Knight Transportation, Inc		164,761
21,878	*	LKQ Corp		459,876
1,671	*	MWI Veterinary Supply, Inc		66,840
1,467		Owens & Minor, Inc		62,245
1,223	e	PEP Boys-Manny Moe & Jack		14,040
13,071	*	PSS World Medical, Inc		255,799
3,601	*	Solera Holdings, Inc		89,233
1,943	*	TomoTherapy, Inc		38,005
7,579	*	Tyler Technologies, Inc		97,693
		TOTAL WHOLESALE TRADE-DURABLE GOODS		2,033,363
WHOLESALE TRADE-NONDURABLE GOODS - 2.25%
10,986	*	Akorn, Inc		80,637
18,618	*	Alliance One International, Inc		75,775
10,762	e*	Allscripts Healthcare Solutions, Inc		208,998
5,111	e*	Beijing Med-Pharm Corp		56,119
5,856	e*	Central European Distribution Corp		340,116

230

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,360	e*	Green Mountain Coffee Roasters, Inc	$	136,752
1,445	e	K-Swiss, Inc (Class A)		26,154
3,018	*	LSB Industries, Inc		85,168
303	e*	Maui Land & Pineapple Co, Inc		8,820
10,542		Men's Wearhouse, Inc		284,423
5,459		Myers Industries, Inc		78,992
1,151	e	Nash Finch Co		40,607
6,497		Nu Skin Enterprises, Inc (Class A)		106,746
2,206	*	Nuco2, Inc		54,929
827	*	School Specialty, Inc		28,573
2,435	e*	Source Interlink Cos, Inc		7,013
1,496		Spartan Stores, Inc		34,184
897	e*	Synutra International, Inc		27,089
18,051	*	Terra Industries, Inc		862,116
8,326	*	United Natural Foods, Inc		264,101
3,086	*	United Stationers, Inc		142,604
1,313	e	Valhi, Inc		20,929
2,932	e*	Volcom, Inc		64,592
2,862	*	Zep Inc		39,696
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		3,075,133
		TOTAL COMMON STOCKS		135,824,314
		(Cost $116,750,192)
SHORT-TERM INVESTMENTS - 5.11%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.11%
6,976,081		State Street Navigator Securities Lending Prime Portfolio		6,976,081
				6,976,081
		TOTAL SHORT-TERM INVESTMENTS		6,976,081
		(Cost $6,976,081)
		TOTAL PORTFOLIO - 104.69%		142,800,395
		(Cost $123,726,273)
		OTHER ASSETS & LIABILITIES, NET - (4.69)%		(6,396,042	)
		NET ASSETS - 100.00%	$	136,404,353
	*	Non-income producing
	**	Percentage represents less than 0.01%.
	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.
		At December 31, 2007, the unrealized appreciation on investments was $19,059,754, consisting of
		gross unrealized appreciation of $30,919,285 and gross unrealized depreciation of $11,859,531.

231

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP VALUE INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.32%
AGRICULTURAL PRODUCTION-CROPS - 0.13%
10,451	e*	Chiquita Brands International, Inc	$	192,194
		TOTAL AGRICULTURAL PRODUCTION-CROPS		192,194
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.33%
2,994	e	Cal-Maine Foods, Inc		79,431
10,157	e	Pilgrim's Pride Corp		294,045
90		Seaboard Corp		132,300
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		505,776
AMUSEMENT AND RECREATION SERVICES - 0.61%
2,359		Churchill Downs, Inc		127,315
1,979	*	Lakes Entertainment, Inc		13,714
8,516	*	Leapfrog Enterprises, Inc		57,313
17,025	e*	Live Nation, Inc		247,203
11,650	*	Magna Entertainment Corp		11,301
4,107	e*	Marvel Entertainment, Inc		109,698
5,353	e*	Multimedia Games, Inc		44,644
6,982	*	Pinnacle Entertainment, Inc		164,496
16,924	e*	Six Flags, Inc		34,356
3,597		Speedway Motorsports, Inc		111,795
351	*	Town Sports International Holdings, Inc		3,356
4,518	*	Westwood One, Inc		8,991
		TOTAL AMUSEMENT AND RECREATION SERVICES		934,182
APPAREL AND ACCESSORY STORES - 0.68%
5,789		Brown Shoe Co, Inc		87,819
760	*	Cache, Inc		7,098
690	*	Casual Male Retail Group, Inc		3,574
5,729		Cato Corp (Class A)		89,716
31,375	e*	Charming Shoppes, Inc		169,739
8,892	*	Collective Brands, Inc		154,632
2,742	*	Dress Barn, Inc		34,302
7,224	*	Eddie Bauer Holdings, Inc		45,872
11,457	*	Finish Line, Inc (Class A)		27,726
5,601	*	HOT Topic, Inc		32,598
5,560	*	Jo-Ann Stores, Inc		72,725
3,168	*	Pacific Sunwear Of California, Inc		44,700
1,508	e*	Shoe Carnival, Inc		21,278
10,980		Stage Stores, Inc		162,504
1,618	e	Syms Corp		24,432
5,847	e	Talbots, Inc		69,112
		TOTAL APPAREL AND ACCESSORY STORES		1,047,827
APPAREL AND OTHER TEXTILE PRODUCTS - 0.47%
2,749	e	Columbia Sportswear Co		121,203
420	*	G-III Apparel Group Ltd		6,203
6,401	e	Kellwood Co		106,513
1,410	e*	Lululemon Athletica, Inc		66,792
2,381	*	Maidenform Brands, Inc		32,215

232

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
21,646	*	Quiksilver, Inc	$	185,723
5,678	*	Warnaco Group, Inc		197,594
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		716,243
AUTO REPAIR, SERVICES AND PARKING - 0.33%
2,543	*	Amerco, Inc		167,024
5,393	e*	Dollar Thrifty Automotive Group, Inc		127,706
18,893	*	Exide Technologies		151,144
462		Monro Muffler, Inc		9,004
623	*	Standard Parking Corp		30,209
778	*	Wright Express Corp		27,611
		TOTAL AUTO REPAIR, SERVICES AND PARKING		512,698
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.36%
6,361		Asbury Automotive Group, Inc		95,733
10,374	e*	CSK Auto Corp		51,974
3,937		Lithia Motors, Inc (Class A)		54,055
4,071	e*	MarineMax, Inc		63,101
8,174	e*	Rush Enterprises, Inc (Class A)		148,603
7,627		Sonic Automotive, Inc (Class A)		147,659
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		561,125
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.08%
3,943	e*	Builders FirstSource, Inc		28,468
17,202	*	Central Garden and Pet Co (Class A)		92,203
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		120,671
BUSINESS SERVICES - 6.51%
97,548	*	3Com Corp		440,917
4,718		Aaron Rents, Inc		90,774
10,120		ABM Industries, Inc		206,347
19,730	e*	Ariba, Inc		219,990
3,536	e	Asset Acceptance Capital Corp		36,810
550	e*	athenahealth, Inc		19,800
12,628	*	Avocent Corp		294,359
495		Barrett Business Services		8,915
50,698	*	BearingPoint, Inc		143,475
1,846		Blackbaud, Inc		51,762
400	*	BladeLogic, Inc		11,828
17,813	e*	Borland Software Corp		53,617
5,273	*	Bottomline Technologies, Inc		73,822
12,660		Brady Corp (Class A)		444,239
7,115	*	CACI International, Inc (Class A)		318,539
468	*	Cavium Networks, Inc		10,773
8,422	*	CBIZ, Inc		82,620
13,376	*	Ciber, Inc		81,727
2,824	e*	Clayton Holdings, Inc		14,600
11,996	*	CMGI, Inc		157,028
2,282		Cognex Corp		45,982
5,352		Compass Diversified Trust		79,745
500	*	Compellent Technologies Inc		6,015
776		Computer Programs & Systems, Inc		17,646
550	*	Constant Contact Inc		11,825
5,754	*	CSG Systems International, Inc		84,699
8	*	Cybersource Corp		142
1,120	*	Data Domain, Inc		29,501
680	*	Deltek, Inc		10,356

233

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
13,044		Deluxe Corp	$	429,017
1,440	*	Dice Holdings, Inc		11,506
5,331	*	DynCorp International, Inc (Class A)		143,297
30,364	*	Earthlink, Inc		214,673
4,180		Electro Rent Corp		62,073
4,647	e*	eSpeed, Inc (Class A)		52,511
13,025	e*	Evergreen Energy, Inc		29,046
1,214	*	ExlService Holdings, Inc		28,019
900	*	First Advantage Corp (Class A)		14,823
276	*	Forrester Research, Inc		7,734
4,895		FTD Group, Inc		63,048
5,685	*	Gerber Scientific, Inc		61,398
3,880	e	Gevity HR, Inc		29,837
696	e*	Global Cash Access, Inc		4,218
274		Heidrick & Struggles International, Inc		10,168
1,310	e*	HSW International Inc		8,161
5,774	*	Hypercom Corp		28,755
4,043	*	i2 Technologies, Inc		50,942
688	e*	ICT Group, Inc		8,222
3,951		Infospace, Inc		74,279
5,184		infoUSA, Inc		46,293
827	*	Integral Systems, Inc		19,236
5,910		Interactive Data Corp		195,089
680	e*	Internet Brands, Inc		4,780
9,476	*	Internet Capital Group, Inc		111,248
1,961	*	Interwoven, Inc		27,885
5,433	e*	Ipass, Inc		22,058
4,456	*	JDA Software Group, Inc		91,170
4,498		Kelly Services, Inc (Class A)		83,933
3,804	*	Keynote Systems, Inc		53,446
1,883	*	Kforce, Inc		18,359
2,225	*	Korn/Ferry International		41,875
30,899	*	Lawson Software, Inc		316,406
1,270	e*	Limelight Networks, Inc		8,750
2,096	*	Lionbridge Technologies		7,441
1,278	*	Manhattan Associates, Inc		33,688
4,101	*	Mantech International Corp (Class A)		179,706
1,296	e	Marchex, Inc (Class B)		14,075
8,683	*	Mentor Graphics Corp		93,603
345	*	MicroStrategy, Inc (Class A)		32,810
740	*	Monotype Imaging Holdings, Inc		11,226
23,213	*	MPS Group, Inc		253,950
11,185	*	MSC.Software Corp		145,293
5,214	*	Ness Technologies, Inc		48,125
6,546	*	On Assignment, Inc		45,887
11,967	e*	OpenTV Corp (Class A)		15,796
2,221	*	Packeteer, Inc		13,681
15,677	*	Parametric Technology Corp		279,834
3,095	*	PDF Solutions, Inc		27,886
2,914		Pegasystems, Inc		34,764
3,091	*	PeopleSupport, Inc		42,285
21,939	*	Perot Systems Corp (Class A)		296,177
13,765	*	Premiere Global Services, Inc		204,410
530	*	PROS Holdings, Inc		10,399
540	e	Protection One, Inc		6,421
910	e	QAD, Inc		8,499
2,169	*	Quest Software, Inc		39,996

234

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,318	*	Radisys Corp	$	57,861
25,160	e*	RealNetworks, Inc		153,224
17,687	*	Rent-A-Center, Inc		256,815
2,342	*	RSC Holdings, Inc		29,392
13,481	*	S1 Corp		98,411
10,779	e*	Secure Computing Corp		103,478
3,268	*	SI International, Inc		89,772
11,820	*	SonicWALL, Inc		126,710
7,026	*	Spherion Corp		51,149
4,522	*	SRA International, Inc (Class A)		133,173
610	e*	SuccessFactors Inc		7,210
20,543	*	Sybase, Inc		535,967
4,066	*	SYNNEX Corp		79,694
2,211	e*	Take-Two Interactive Software, Inc		40,793
3,679		TAL International Group, Inc		83,771
540	*	TechTarget, Inc		7,981
47,901	*	TIBCO Software, Inc		386,561
1,820	*	Tiens Biotech Group USA, Inc		4,259
5,992		TNS, Inc		106,358
11,844		United Online, Inc		139,996
5,186		Viad Corp		163,774
3,305	*	Vignette Corp		48,286
390	*	Virtusa Corp		6,759
3,352	e*	Volt Information Sciences, Inc		61,208
		TOTAL BUSINESS SERVICES		10,038,662
CHEMICALS AND ALLIED PRODUCTS - 5.44%
3,521	*	Albany Molecular Research, Inc		50,632
10,894	*	Alpharma, Inc (Class A)		219,514
520	e*	Amicus Therapeutics, Inc		5,590
988	*	Animal Health International, Inc		12,152
6,102		Arch Chemicals, Inc		224,249
18,137	*	Arena Pharmaceuticals, Inc		142,013
2,439	e*	Aventine Renewable Energy Holdings, Inc		31,122
2,083	*	Bentley Pharmaceuticals, Inc		31,432
2,080	e*	Bionovo, Inc		3,557
2,244	e*	Bradley Pharmaceuticals, Inc		44,207
9,900	e*	Calgon Carbon Corp		157,311
7,003		Cambrex Corp		58,685
12,537		CF Industries Holdings, Inc		1,379,822
412	*	Chattem, Inc		31,122
3,220	*	Cytokinetics, Inc		15,231
6,007	*	Elizabeth Arden, Inc		122,242
1,904	*	Emergent Biosolutions, Inc		9,634
1,145	e*	Enzon Pharmaceuticals, Inc		10,912
10,926		Ferro Corp		226,496
8,472	e	Georgia Gulf Corp		56,085
15,242		H.B. Fuller Co		342,183
15,442		Hercules, Inc		298,803
1,718	e*	Indevus Pharmaceuticals, Inc		11,940
2,685		Innophos Holdings, Inc		39,953
6,074		Innospec, Inc		104,230
176	e	Inter Parfums, Inc		3,163
1,083	e*	InterMune, Inc		14,436
10,192	*	Inverness Medical Innovations, Inc		572,587
1,953		Koppers Holdings, Inc		84,448
13,261	e*	MannKind Corp		105,558

235

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,133	*	Martek Biosciences Corp	$	240,574
4,789		Minerals Technologies, Inc		320,624
870	e*	Molecular Insight Pharmaceuticals, Inc		7,882
3,346	*	Momenta Pharmaceuticals, Inc		23,890
9,384	e*	Nabi Biopharmaceuticals		33,876
4,472	*	Neurocrine Biosciences, Inc		20,303
2,849		NewMarket Corp		158,661
2,063	e	NL Industries, Inc		23,580
18,532		Olin Corp		358,224
7,486	*	OM Group, Inc		430,744
470	e*	Orexigen Therapeutics, Inc		6,698
2,643	e*	Pacific Ethanol, Inc		21,699
849	*	Par Pharmaceutical Cos, Inc		20,376
9,151		Perrigo Co		320,377
5,017	*	PharMerica Corp		69,636
23,384	*	PolyOne Corp		153,867
8,235	*	Prestige Brands Holdings, Inc		61,598
45,638	*	Revlon, Inc (Class A)		53,853
8,804	*	Rockwood Holdings, Inc		292,469
1,088	e*	Salix Pharmaceuticals Ltd		8,573
1,444	*	Sciele Pharma, Inc		29,530
11,814		Sensient Technologies Corp		334,100
1,630		Stepan Co		53,024
540	*	Sucampo Pharmaceuticals Inc		9,904
10,219		Tronox, Inc (Class B)		88,394
5,520		UAP Holding Corp		213,072
1,490	e*	Ulta Salon Cosmetics & Fragrance, Inc		25,554
863	*	US BioEnergy Corp		10,106
27,058	e*	USEC, Inc		243,522
1,024	e*	Verasun Energy Corp		15,647
1,769	e*	Viropharma, Inc		14,046
10,905	*	WR Grace & Co		285,493
5,790	*	XOMA Ltd		19,628
		TOTAL CHEMICALS AND ALLIED PRODUCTS		8,378,833
COAL MINING - 0.05%
14,445	e*	International Coal Group, Inc		77,425
		TOTAL COAL MINING		77,425
COMMUNICATIONS - 2.49%
10,517	e	Alaska Communications Systems Group, Inc		157,755
1,333	e*	Anixter International, Inc		83,006
660	*	Aruba Networks, Inc		9,841
2,370		Atlantic Tele-Network, Inc		80,059
4,028	*	Audiovox Corp (Class A)		49,947
1,402	*	Brightpoint, Inc		21,535
104,361	e*	Charter Communications, Inc (Class A)		122,102
61,985	*	Cincinnati Bell, Inc		294,429
28,461	e	Citadel Broadcasting Corp		58,630
1,915		Consolidated Communications Holdings, Inc		38,109
8,289	*	Cox Radio, Inc (Class A)		100,711
1,637	e*	Crown Media Holdings, Inc (Class A)		10,641
3,391	e*	Cumulus Media, Inc (Class A)		27,264
3,716	*	DG FastChannel,Inc		95,278
7,346		Emmis Communications Corp (Class A)		28,282
8,058		Entercom Communications Corp (Class A)		110,314
9,366	*	Entravision Communications Corp (Class A)		73,336

236

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,646	e	Fairpoint Communications, Inc	$	99,551
25,984	e*	FiberTower Corp		59,244
1,522	*	Fisher Communications, Inc		57,775
4,749	*	Foundry Networks, Inc		83,202
11,795	*	General Communication, Inc (Class A)		103,206
1,354	*	GeoEye, Inc		45,562
5,141	e*	Global Crossing Ltd		113,359
2,269	*	Golden Telecom, Inc		229,056
10,318		Gray Television, Inc		82,750
437	e*	Hungarian Telephone & Cable		7,731
14,584	*	ICO Global Communications Holdings Ltd		46,377
12,204	e	IDT Corp (Class B)		103,124
7,813	e	Iowa Telecommunications Services, Inc		127,039
1,101		iPCS, Inc		39,625
3,089	e*	Knology, Inc		39,477
6,716	*	Lin TV Corp (Class A)		81,734
1,723	e*	Lodgenet Entertainment Corp		30,049
1,629	*	Mastec, Inc		16,567
13,279	e*	Mediacom Communications Corp (Class A)		60,951
970	*	Neutral Tandem Inc		18,449
1,582	*	Nexstar Broadcasting Group, Inc (Class A)		14,459
7,673	*	Nextwave Wireless, Inc		41,281
367	e*	North Pittsburgh Systems, Inc		8,327
10,590	*	PAETEC Holding Corp		103,253
639		Preformed Line Products Co		38,021
19,034	*	Radio One, Inc (Class D)		45,111
7,528		RCN Corp		117,362
1,801	*	Rural Cellular Corp (Class A)		79,406
3,022		Salem Communications Corp (Class A)		19,915
2,117	*	SAVVIS, Inc		59,085
5,259		Shenandoah Telecom Co		126,111
6,470	e	Sinclair Broadcast Group, Inc (Class A)		53,119
7,194	e*	Spanish Broadcasting System, Inc (Class A)		13,309
3,599	e	SureWest Communications		61,543
6,728	*	Syniverse Holdings, Inc		104,822
5,690		USA Mobility, Inc		81,367
4,020	*	Virgin Mobile USA, Inc		35,738
10,587	e*	Vonage Holdings Corp		24,350
		TOTAL COMMUNICATIONS		3,832,646
DEPOSITORY INSTITUTIONS - 13.18%
3,470		1st Source Corp		60,066
2,013		Abington Bancorp, Inc		18,922
4,269		Alabama National Bancorp		332,171
5,894		Amcore Financial, Inc		133,794
4,345		AmericanWest Bancorp		76,602
3,450	e	Ameris Bancorp		58,133
5,020	e	Anchor Bancorp Wisconsin, Inc		118,070
2,072	e	Bancfirst Corp		88,785
6,700		Banco Latinoamericano de Exportaciones S.A.		109,277
2,506	*	Bancorp, Inc		33,731
13,627		Bank Mutual Corp		144,037
639		Bank of the Ozarks, Inc		16,742
10,524	e	BankAtlantic Bancorp, Inc (Class A)		43,148
5,823		BankFinancial Corp		92,120
8,126	e	BankUnited Financial Corp (Class A)		56,069
3,983	e	Banner Corp		114,432

237

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,310	*	Beneficial Mutual Bancorp, Inc	$	80,773
2,690		Berkshire Hills Bancorp, Inc		69,940
9,312		Boston Private Financial Holdings, Inc		252,169
16,032		Brookline Bancorp, Inc		162,885
3,226	e	Capital City Bank Group, Inc		91,038
2,361		Capital Corp of the West		45,874
3,552		Capitol Bancorp Ltd		71,466
4,967	e	Cascade Bancorp		69,141
12,860	e	Cathay General Bancorp		340,661
13,686	*	Centennial Bank Holdings, Inc		79,105
2,536		Center Financial Corp		31,244
7,816		Central Pacific Financial Corp		144,283
6,308	e	Chemical Financial Corp		150,067
11,583		Chittenden Corp		412,586
19,029	e	Citizens Banking Corp		276,111
3,059	e	City Bank		68,583
4,360		City Holding Co		147,542
2,723	e	Clifton Savings Bancorp, Inc		26,685
2,195	e	CoBiz, Inc		32,640
4,573		Columbia Banking System, Inc		135,955
2,501	e*	Community Bancorp		43,442
7,661		Community Bank System, Inc		152,224
3,743		Community Trust Bancorp, Inc		103,045
9,855	e	Corus Bankshares, Inc		105,153
16,785	e	CVB Financial Corp		173,557
6,470		Dime Community Bancshares		82,622
5,336	e	Downey Financial Corp		166,003
778	e	Enterprise Financial Services Corp		18,524
3,122	e	First Bancorp		58,975
23,518		First Bancorp		171,446
6,057	e	First Busey Corp		120,292
8,836	e	First Charter Corp		263,843
18,669	e	First Commonwealth Financial Corp		198,825
6,504	e	First Community Bancorp, Inc		268,225
2,472		First Community Bancshares, Inc		78,832
8,180		First Financial Bancorp		93,252
4,939	e	First Financial Bankshares, Inc		185,953
3,250	e	First Financial Corp		92,105
2,941		First Financial Holdings, Inc		80,642
3,123		First Indiana Corp		99,936
4,515		First Merchants Corp		98,608
12,494		First Midwest Bancorp, Inc		382,316
25,441		First Niagara Financial Group, Inc		306,310
4,400		First Place Financial Corp		61,556
2,026	e*	First Regional Bancorp		38,271
5,160		First State Bancorporation		71,724
3,587	e*	FirstFed Financial Corp		128,486
20,220		FirstMerit Corp		404,602
11,084	e	Flagstar Bancorp, Inc		77,255
5,198		Flushing Financial Corp		83,428
15,186	e	FNB Corp		223,234
6,621	e*	Franklin Bank Corp		28,537
18,422	e*	Fremont General Corp		64,477
9,289	e	Frontier Financial Corp		172,497
13,247	e	Glacier Bancorp, Inc		248,249
2,642	e	Great Southern Bancorp, Inc		58,018
2,861		Greene County Bancshares, Inc		54,931

238

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
6,718	e	Hancock Holding Co	$	256,628
10,525	e	Hanmi Financial Corp		90,726
7,283	e	Harleysville National Corp		106,113
3,254	e	Heartland Financial USA, Inc		60,427
3,481		Heritage Commerce Corp		64,016
2,910	e	Home Bancshares, Inc		61,023
3,196		Horizon Financial Corp		55,738
2,968	e	IBERIABANK Corp		138,754
1,520		Imperial Capital Bancorp, Inc		27,816
3,567		Independent Bank Corp		97,094
5,685	e	Independent Bank Corp		54,008
5,113	e	Integra Bank Corp		72,144
12,879		International Bancshares Corp		269,686
12,918	*	Investors Bancorp, Inc		182,661
4,851		Irwin Financial Corp		35,655
5,274	e	Kearny Financial Corp		62,813
620	e	K-Fed Bancorp		6,256
6,794		KNBT Bancorp, Inc		104,763
4,992	e	Lakeland Bancorp, Inc		57,857
3,068		Lakeland Financial Corp		64,121
3,745	e	Macatawa Bank Corp		32,170
4,753		MainSource Financial Group, Inc		73,957
9,172	e	MB Financial, Inc		282,773
4,914		Midwest Banc Holdings, Inc		61,032
5,640		Nara Bancorp, Inc		65,819
945	e	NASB Financial, Inc		24,929
12,398	e	National Penn Bancshares, Inc		187,706
8,097		NBT Bancorp, Inc		184,774
14,557	e	NewAlliance Bancshares, Inc		167,697
4,600	*	Northfield Bancorp Inc		49,772
4,706	e	Northwest Bancorp, Inc		125,038
16,691	e	Old National Bancorp		249,697
3,080	e	Old Second Bancorp, Inc		82,513
3,133	e	Omega Financial Corp		91,672
5,293		Oriental Financial Group, Inc		70,979
1,620	*	Oritani Financial Corp		19,926
11,816	e	Pacific Capital Bancorp		237,856
3,043	e	Park National Corp		196,274
2,683		Peoples Bancorp, Inc		66,780
5,407	e	PFF Bancorp, Inc		65,100
1,673	e*	Pinnacle Financial Partners, Inc		42,528
2,059		Preferred Bank		53,575
1,792	e	PrivateBancorp, Inc		58,509
8,922		Prosperity Bancshares, Inc		262,218
8,172	e	Provident Bankshares Corp		174,799
15,536		Provident Financial Services, Inc		224,029
10,440	e	Provident New York Bancorp		134,885
527	e	QC Holdings, Inc		5,929
5,220		Renasant Corp		112,595
2,586		Republic Bancorp, Inc (Class A)		42,747
2,190		Rockville Financial, Inc		26,718
2,550		Roma Financial Corp		40,010
1,235		Royal Bancshares of Pennsylvania (Class A)		13,585
6,267	e	S&T Bancorp, Inc		173,220
3,122	e	S.Y. Bancorp, Inc		74,741
3,954	e	Sandy Spring Bancorp, Inc		110,000
1,200		Santander BanCorp		10,392

239

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,320		SCBT Financial Corp	$	73,474
3,849	e	Seacoast Banking Corp of Florida		39,568
3,859	e	Security Bank Corp		35,271
491	*	Signature Bank		16,571
3,480		Simmons First National Corp (Class A)		92,220
18,639	e	South Financial Group, Inc		291,328
2,643	e	Southside Bancshares, Inc		54,076
3,596		Southwest Bancorp, Inc		65,915
4,440		Sterling Bancorp		60,562
18,742		Sterling Bancshares, Inc		209,161
6,784	*	Sterling Financial Corp		111,393
12,886	e	Sterling Financial Corp		216,356
482		Suffolk Bancorp		14,802
3,930	*	Sun Bancorp, Inc		62,015
4,479	e*	Superior Bancorp		24,052
21,394	e	Susquehanna Bancshares, Inc		394,505
6,951	e*	SVB Financial Group		350,330
1,407		Taylor Capital Group, Inc		28,703
5,067	*	Texas Capital Bancshares, Inc		92,473
4,492	e	TierOne Corp		99,498
1,711	e	Tompkins Trustco, Inc		66,387
3,558		Trico Bancshares		68,669
12,302		Trustmark Corp		311,979
25,104	e	UCBH Holdings, Inc		355,473
7,775		UMB Financial Corp		298,249
15,404	e	Umpqua Holdings Corp		236,297
3,355	e	Union Bankshares Corp		70,925
9,029		United Bankshares, Inc		252,993
10,500	e	United Community Banks, Inc		165,900
7,000	e	United Community Financial Corp		38,640
3,226		Univest Corp of Pennsylvania		68,101
2,837		USB Holding Co, Inc		56,173
2,670		ViewPoint Financial Group		44,135
467	e*	Virginia Commerce Bancorp		5,478
30,463	e	W Holding Co, Inc		36,860
2,755		Washington Trust Bancorp, Inc		69,509
2,017	e*	Wauwatosa Holdings, Inc		25,858
5,358	e	WesBanco, Inc		110,375
3,861		West Coast Bancorp		71,429
5,560	e	Westamerica Bancorporation		247,698
1,733	e*	Western Alliance Bancorp		32,528
2,445		Westfield Financial, Inc		23,717
3,903	e	Wilshire Bancorp, Inc		30,639
6,096		Wintrust Financial Corp		201,960
1,576		WSFS Financial Corp		79,115
		TOTAL DEPOSITORY INSTITUTIONS		20,310,845
EATING AND DRINKING PLACES - 0.78%
3,142	*	AFC Enterprises		35,567
360	*	Benihana, Inc (Class A)		4,590
8,991		Bob Evans Farms, Inc		242,128
2,452		CBRL Group, Inc		79,420
3,763	*	CEC Entertainment, Inc		97,687
11,104		Domino's Pizza, Inc		146,906
2,430	e	IHOP Corp		88,889
7,188	*	Jack in the Box, Inc		185,235
3,421	e	Landry's Restaurants, Inc		67,394

240

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
313	*	McCormick & Schmick's Seafood Restaurants, Inc	$	3,734
1,720	*	Morton's Restaurant Group, Inc		16,048
5,987		O'Charleys, Inc		89,685
1,986	*	Papa John's International, Inc		45,082
2,448		Ruby Tuesday, Inc		23,868
7,106	e*	Steak N Shake Co		77,455
		TOTAL EATING AND DRINKING PLACES		1,203,688
EDUCATIONAL SERVICES - 0.01%
180	*	American Public Education, Inc		7,520
530	*	Lincoln Educational Services Corp		7,802
		TOTAL EDUCATIONAL SERVICES		15,322
ELECTRIC, GAS, AND SANITARY SERVICES - 6.23%
6,310		Allete, Inc		249,750
340		American Ecology Corp		7,983
4,284		American States Water Co		161,421
94,175	*	Aquila, Inc		351,273
12,992		Avista Corp		279,848
9,462		Black Hills Corp		417,274
4,930		California Water Service Group		182,509
5,712	*	Casella Waste Systems, Inc (Class A)		74,484
2,497		Central Vermont Public Service Corp		77,007
3,874	e	CH Energy Group, Inc		172,548
15,001		Cleco Corp		417,028
11,274	*	El Paso Electric Co		288,276
7,467		Empire District Electric Co		170,098
3,570	*	EnergySolutions Inc		96,354
1,269	e	EnergySouth, Inc		73,602
190	e*	EnerNOC, Inc		9,329
11,054	e	Idacorp, Inc		389,322
5,466		Laclede Group, Inc		187,156
5,926		Metal Management, Inc		269,811
5,339	e	MGE Energy, Inc		189,374
7,033		New Jersey Resources Corp		351,791
11,315	e	Nicor, Inc		479,190
6,781		Northwest Natural Gas Co		329,963
9,026		NorthWestern Corp		266,267
7,474		Otter Tail Corp		258,600
3,753	*	Pico Holdings, Inc		126,176
18,746		Piedmont Natural Gas Co, Inc		490,395
839	*	Pike Electric Corp		14,062
19,266		PNM Resources, Inc		413,256
7,508		Portland General Electric Co		208,572
3,367	e	Resource America, Inc (Class A)		49,394
3,639	e	SJW Corp		126,164
7,407		South Jersey Industries, Inc		267,319
10,558		Southwest Gas Corp		314,312
6,150	e	Southwest Water Co		76,998
6,190		UIL Holdings Corp		228,721
8,859		Unisource Energy Corp		279,501
4,981	*	Waste Connections, Inc		153,913
5,067	e*	Waste Services, Inc		43,424
25,091		Westar Energy, Inc		650,861
12,369		WGL Holdings, Inc		405,208
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		9,598,534

241

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.52%
6,384	*	Actel Corp	$	87,205
3,077		Acuity Brands, Inc		138,465
29,150	*	Adaptec, Inc		98,527
7,236		Adtran, Inc		154,706
1,000	e*	Airvana, Inc		5,430
10,765	*	Applied Micro Circuits Corp		94,086
1,679	*	Arris Group, Inc		16,756
1,223	*	ATMI, Inc		39,442
2,948		Bel Fuse, Inc (Class B)		86,288
14,709	*	Benchmark Electronics, Inc		260,791
1,974	*	Ceradyne, Inc		92,640
9,914	*	Checkpoint Systems, Inc		257,566
92,918	e*	Conexant Systems, Inc		77,122
8,844	e	CTS Corp		87,821
1,420		Cubic Corp		55,664
4,544	e*	Ditech Networks, Inc		15,768
7,716	*	DSP Group, Inc		94,135
7,200	*	Electro Scientific Industries, Inc		142,920
1,863	*	EMS Technologies, Inc		56,337
5,269	*	EnerSys		131,514
5,971	*	Exar Corp		47,589
5,063	*	Gemstar-TV Guide International, Inc		24,100
26,201	*	GrafTech International Ltd		465,068
650	*	Greatbatch, Inc		12,994
7,458	*	Helen of Troy Ltd		127,830
6,405	*	Hutchinson Technology, Inc		168,580
8,913	e	Imation Corp		187,173
1,460	*	Infinera Corp		21,666
3,010	*	IXYS Corp		24,140
20,686	*	Kemet Corp		137,148
29,796	e*	Lattice Semiconductor Corp		96,837
3,785	*	Littelfuse, Inc		124,754
2,822	*	Loral Space & Communications, Inc		96,654
4,519		LSI Industries, Inc		82,246
2,370	*	Mattson Technology, Inc		20,287
5,670	*	Mercury Computer Systems, Inc		91,344
8,966		Methode Electronics, Inc		147,401
7,143	*	Moog, Inc (Class A)		327,221
39,666	e*	MRV Communications, Inc		92,025
1,241	*	Multi-Fineline Electronix, Inc		21,519
1,127	e	National Presto Industries, Inc		59,348
10,181	*	Omnivision Technologies, Inc		159,333
20,601		Openwave Systems, Inc		53,563
3,293	*	Oplink Communications, Inc		50,548
2,340	*	Optium Corp		18,439
2,027	*	OSI Systems, Inc		53,655
5,152		Park Electrochemical Corp		145,492
4,434	*	Pericom Semiconductor Corp		82,916
10,292	*	Photronics, Inc		128,341
12,076		Plantronics, Inc		313,976
4,689	*	Plexus Corp		123,133
3,839	*	PMC - Sierra, Inc		25,107
2,400	*	Polypore International, Inc		42,000
647	*	Powell Industries, Inc		28,513
17,612	*	Power-One, Inc		70,272
32,075	*	Powerwave Technologies, Inc		129,262

242

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,030		Regal-Beloit Corp	$	360,949
26,246	e*	RF Micro Devices, Inc		149,865
4,465	*	Rogers Corp		193,647
560	*	Rubicon Technology Inc		13,300
4,801	*	Seachange International, Inc		34,711
3,074	*	Semtech Corp		47,708
810	*	ShoreTel, Inc		11,316
3,003	*	Silicon Image, Inc		13,574
23,325	*	Silicon Storage Technology, Inc		69,742
34,761	*	Skyworks Solutions, Inc		295,469
23,069	e*	Spansion, Inc (Class A)		90,661
11,184	e*	Spectrum Brands, Inc		59,611
3,715	*	Standard Microsystems Corp		145,145
1,100	e*	Starent Networks Corp		20,075
3,623	*	Stoneridge, Inc		29,129
28,065	*	Sycamore Networks, Inc		107,770
6,737	e*	Symmetricom, Inc		31,731
1,200	e*	Syntax-Brillian Corp		3,696
6,498		Technitrol, Inc		185,713
15,420	*	Tekelec		192,750
35,052	e*	Triquint Semiconductor, Inc		232,395
9,147	*	TTM Technologies, Inc		106,654
4,018	*	Ultra Clean Holdings		49,020
2,314	e*	Universal Display Corp		47,830
14,410	e*	Utstarcom, Inc		39,628
8,231	*	Zoran Corp		185,280
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		8,511,026
ENGINEERING AND MANAGEMENT SERVICES - 1.69%
2,389	*	Aecom Technology Corp		68,254
19,724	*	Applera Corp (Celera Genomics Group)		313,020
6,382	e*	Ariad Pharmaceuticals, Inc		27,124
2,575		CDI Corp		62,470
740	e*	China Architectural Engineering, Inc		6,401
410	*	comScore, Inc		13,378
2,615	*	Cornell Cos, Inc		60,982
254	*	CRA International, Inc		12,093
966	*	Exponent, Inc		26,121
5,395	*	Harris Interactive, Inc		22,983
8,400	*	Incyte Corp		84,420
10,598	e*	Isis Pharmaceuticals, Inc		166,919
1,090		Landauer, Inc		56,517
3,456	*	LECG Corp		52,047
5,051		MAXIMUS, Inc		195,019
5,630	*	Maxygen, Inc		45,209
1,808	*	MTC Technologies, Inc		42,488
3,661	*	Navigant Consulting, Inc		50,046
2,365	*	PharmaNet Development Group, Inc		92,732
1,007	*	Rigel Pharmaceuticals, Inc		25,568
32,197	*	SAIC, Inc		647,804
3,864	*	Symyx Technologies, Inc		29,676
2,380	e*	Telik, Inc		8,259
5,768	*	Tetra Tech, Inc		124,012
8,142		Watson Wyatt & Co Holdings (Class A)		377,870
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		2,611,412

243

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
ENVIRONMENTAL QUALITY AND HOUSING - 0.01%
9,931		Home Solutions of America Inc	$	9,931
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		9,931
FABRICATED METAL PRODUCTS - 1.59%
2,056		Ameron International Corp		189,460
16,012		Aptargroup, Inc		655,051
1,261	*	Chart Industries, Inc		38,965
4,030		CIRCOR International, Inc		186,831
5,234	*	Commercial Vehicle Group, Inc		75,893
458		Compx International, Inc		6,696
7,350	*	Griffon Corp		91,508
292		Gulf Island Fabrication, Inc		9,259
2,658	e	Insteel Industries, Inc		31,178
2,303	*	Ladish Co, Inc		99,467
2,138		Lifetime Brands, Inc		27,751
1,764	*	Mobile Mini, Inc		32,705
28,851	e	Mueller Water Products, Inc (Class A)		274,662
4,246	*	NCI Building Systems, Inc		122,242
1,925	*	Park-Ohio Holdings Corp		48,318
1,516	*	PGT, Inc		7,216
2,904		Silgan Holdings, Inc		150,834
4,798	e	Simpson Manufacturing Co, Inc		127,579
3,344	*	Trimas Corp		35,413
7,916	e	Watts Water Technologies, Inc (Class A)		235,897
		TOTAL FABRICATED METAL PRODUCTS		2,446,925
FOOD AND KINDRED PRODUCTS - 1.04%
290	*	Boston Beer Co, Inc (Class A)		10,919
1,797	e	Farmer Bros Co		41,313
11,150		Flowers Foods, Inc		261,022
2,991	e	Imperial Sugar Co		56,141
1,223		J&J Snack Foods Corp		38,255
591		Lancaster Colony Corp		23,463
5,577		Lance, Inc		113,882
2,592	e	MGP Ingredients, Inc		24,417
8,889	*	Performance Food Group Co		238,847
4,794	*	Ralcorp Holdings, Inc		291,427
2,892	e	Reddy Ice Holdings, Inc		73,197
1,630	e	Sanderson Farms, Inc		55,061
6,946	e	Tootsie Roll Industries, Inc		190,459
7,910	*	TreeHouse Foods, Inc		181,851
		TOTAL FOOD AND KINDRED PRODUCTS		1,600,254
FOOD STORES - 0.58%
3,854		Great Atlantic & Pacific Tea Co, Inc		120,746
425		Ingles Markets, Inc (Class A)		10,791
3,373	*	Pantry, Inc		88,136
10,322		Ruddick Corp		357,864
829		Village Super Market (Class A)		42,188
3,191	e	Weis Markets, Inc		127,449
8,254	e*	Winn-Dixie Stores, Inc		139,245
		TOTAL FOOD STORES		886,419
FURNITURE AND FIXTURES - 0.34%
5,924	e	Ethan Allen Interiors, Inc		168,834
11,912	e	Furniture Brands International, Inc		119,835
2,755		Hooker Furniture Corp		55,376

244

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,221		Kimball International, Inc (Class B)	$	44,128
12,727	e	La-Z-Boy, Inc		100,925
3,440	e	Sealy Corp		38,494
		TOTAL FURNITURE AND FIXTURES		527,592
FURNITURE AND HOMEFURNISHINGS STORES - 0.14%
5,235	e	Haverty Furniture Cos, Inc		47,063
1,530	e*	hhgregg, Inc		21,053
21,756	e*	Pier 1 Imports, Inc		113,784
7,777	e	Tuesday Morning Corp		39,429
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		221,329
GENERAL BUILDING CONTRACTORS - 0.35%
260	e	Amrep Corp		7,943
1,377	e*	Avatar Holdings, Inc		57,586
9,638	e*	Beazer Homes USA, Inc		71,610
2,685	e	Brookfield Homes Corp		42,423
9,224	e*	Hovnanian Enterprises, Inc (Class A)		66,136
3,022	e	M/I Homes, Inc		31,731
6,456	e*	Meritage Homes Corp		94,064
2,045	e*	Palm Harbor Homes, Inc		21,575
1,548	*	Perini Corp		64,118
16,591	e*	Standard-Pacific Corp		55,580
7,504	e*	WCI Communities, Inc		28,365
		TOTAL GENERAL BUILDING CONTRACTORS		541,131
GENERAL MERCHANDISE STORES - 0.48%
5,195	e*	99 Cents Only Stores		41,352
1,972	e	Bon-Ton Stores, Inc		18,714
8,643	e*	Cabela's, Inc		130,250
12,693		Casey's General Stores, Inc		375,840
2,940	e*	Conn's, Inc		50,303
9,873	e	Fred's, Inc		95,077
5,738	e	Stein Mart, Inc		27,198
		TOTAL GENERAL MERCHANDISE STORES		738,734
HEALTH SERVICES - 1.38%
2,625	*	Alliance Imaging, Inc		25,253
463	e*	Amedisys, Inc		22,465
310	*	American Dental Partners, Inc		3,109
7,689	*	Amsurg Corp		208,064
6,554	*	Apria Healthcare Group, Inc		141,370
10,656	*	Assisted Living Concepts, Inc (A Shares)		79,920
7,263	e*	Cross Country Healthcare, Inc		103,425
1,519	e*	Emeritus Corp		38,203
540		Ensign Group, Inc		7,776
1,360	*	FGX International Holdings Ltd		16,116
270	*	Genoptix Inc		8,289
4,715	*	Gentiva Health Services, Inc		89,774
19,790	e*	Healthsouth Corp		415,590
4,762	*	Immunomedics, Inc		11,048
7,208	*	Kindred Healthcare, Inc		180,056
8,264	*	Magellan Health Services, Inc		385,350
1,078	*	Matria Healthcare, Inc		25,624
1,693	*	Medcath Corp		41,580
739	e	National Healthcare Corp		38,206
7,908	*	Odyssey HealthCare, Inc		87,462

245

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,250	*	RehabCare Group, Inc	$	95,880
2,667	*	Skilled Healthcare Group, Inc (Class A)		39,018
1,651	e*	Sunrise Senior Living, Inc		50,653
360	e	Virtual Radiologic Corp		7,301
		TOTAL HEALTH SERVICES		2,121,532
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.10%
517	e*	Comverge, Inc		16,280
3,766		Granite Construction, Inc		136,254
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		152,534
HOLDING AND OTHER INVESTMENT OFFICES - 11.32%
1,950		Agree Realty Corp		58,695
15,474	e	Alesco Financial, Inc		50,755
3,987		Alexandria Real Estate Equities, Inc		405,358
6,670		American Campus Communities, Inc		179,090
32,743		American Financial Realty Trust		262,599
4,686	e*	Ampal American Israel (Class A)		34,630
16,453		Anthracite Capital, Inc		119,120
11,251		Anworth Mortgage Asset Corp		92,933
29,938		Apollo Investment Corp		510,443
3,399	e	Arbor Realty Trust, Inc		54,758
26,089		Ashford Hospitality Trust, Inc		187,580
16,447		BioMed Realty Trust, Inc		381,077
1,718	e	BRT Realty Trust		26,285
10,940		Capital Lease Funding, Inc		92,115
751		Capital Southwest Corp		88,918
3,444	e	Capital Trust, Inc (Class A)		105,559
7,602	e	CBRE Realty Finance, Inc		40,595
10,882		Cedar Shopping Centers, Inc		111,323
586	e	Cherokee, Inc		18,910
8,827		Corporate Office Properties Trust		278,051
6,165	e	Crystal River Capital, Inc		89,023
42,329		DCT Industrial Trust, Inc		394,083
13,011	e	Deerfield Capital Corp		104,088
23,760		DiamondRock Hospitality Co		355,925
1,154		EastGroup Properties, Inc		48,295
6,858		Education Realty Trust, Inc		77,084
7,059		Entertainment Properties Trust		331,773
9,182		Equity One, Inc		211,461
15,855		Extra Space Storage, Inc		226,568
4,507	e	First Industrial Realty Trust, Inc		155,942
5,936		First Potomac Realty Trust		102,633
14,964	e	Franklin Street Properties Corp		221,467
35,295	e*	Friedman Billings Ramsey Group, Inc (Class A)		110,826
3,684	e	Gladstone Capital Corp		62,628
7,914		GMH Communities Trust		43,685
6,242	e	Gramercy Capital Corp		151,743
12,736		Healthcare Realty Trust, Inc		323,367
10,044		Hersha Hospitality Trust		95,418
4,051	*	HFF, Inc (Class A)		31,355
4,268		Highwoods Properties, Inc		125,394
11,698	*	Hilltop Holdings, Inc		127,742
1,984		Home Properties, Inc		88,982
20,481	e v	IMPAC Mortgage Holdings, Inc		11,265
12,025	e	Inland Real Estate Corp		170,274
11,969		Investors Real Estate Trust		107,362

246

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
57,400	e	iShares Russell 2000 Value Index Fund	$	4,045,552
13,123	e*	Jamba, Inc		48,555
2,925	e	JER Investors Trust, Inc		31,502
4,917		Kite Realty Group Trust		75,083
10,079		LaSalle Hotel Properties		321,520
16,626		Lexington Corporate Properties Trust		241,742
5,830		LTC Properties, Inc		146,042
14,199	e v	Luminent Mortgage Capital, Inc		11,075
5,245	e	Maguire Properties, Inc		154,570
12,215		Medical Properties Trust, Inc		124,471
11,148	*	Meruelo Maddux Properties, Inc		44,592
30,580		MFA Mortgage Investments, Inc		282,865
4,946		Mission West Properties, Inc		47,036
5,980		MVC Capital, Inc		96,517
5,526	e	National Health Investors, Inc		154,175
17,835		National Retail Properties, Inc		416,984
2,627		Nationwide Health Properties, Inc		82,409
10,616	e	Newcastle Investment Corp		137,583
15,108	e	NorthStar Realty Finance Corp		134,763
2,840	e*	Novastar Financial, Inc		8,208
3,910		Parkway Properties, Inc		144,592
1,130		PennantPark Investment Corp		11,323
8,074		Pennsylvania Real Estate Investment Trust		239,636
9,123		Post Properties, Inc		320,400
9,799		Potlatch Corp		435,468
5,798	e	Prospect Capital Corp		75,664
2,690	e	Quadra Realty Trust, Inc		21,628
15,623	e	RAIT Investment Trust		134,670
1,566		Ramco-Gershenson Properties		33,465
25,382		Realty Income Corp		685,822
5,710		Redwood Trust, Inc		195,510
5,574		Resource Capital Corp		51,894
21,024		Senior Housing Properties Trust		476,824
5,435		Sovran Self Storage, Inc		217,944
18,660		Strategic Hotels & Resorts, Inc		312,182
15,696		Sunstone Hotel Investors, Inc		287,080
7,494	e	Tarragon Corp		11,241
1,938		Universal Health Realty Income Trust		68,683
5,320		Urstadt Biddle Properties, Inc (Class A)		82,460
11,410		U-Store-It Trust		104,516
12,526		Winthrop Realty Trust		66,263
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		17,449,686
HOTELS AND OTHER LODGING PLACES - 0.44%
3,603		Ameristar Casinos, Inc		99,227
5,603	e*	Bluegreen Corp		40,286
5,844	*	Gaylord Entertainment Co		236,507
7,561	*	Great Wolf Resorts, Inc		74,173
3,688	*	Isle of Capri Casinos, Inc		50,784
4,718	*	Lodgian, Inc		53,125
3,419		Marcus Corp		52,824
1,297	*	Riviera Holdings Corp		39,948
7,480	e*	Trump Entertainment Resorts, Inc		32,164
		TOTAL HOTELS AND OTHER LODGING PLACES		679,038
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.56%
570	*	3PAR, Inc		7,296

247

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,596		Actuant Corp (Class A)	$	54,280
7,358		Albany International Corp (Class A)		272,982
6,391	*	Allis-Chalmers Energy, Inc		94,267
1,653		Ampco-Pittsburgh Corp		63,029
2,146	*	ASV, Inc		29,722
1,302	*	Asyst Technologies, Inc		4,245
590	*	AuthenTec, Inc		8,573
26,157	*	Axcelis Technologies, Inc		120,322
4,409		Black Box Corp		159,474
9,379	*	Blount International, Inc		115,455
12,425		Briggs & Stratton Corp		281,551
16,045	*	Brooks Automation, Inc		211,954
2,351		Cascade Corp		109,227
10,305	*	Cirrus Logic, Inc		54,410
2,014	*	Columbus McKinnon Corp		65,697
4,303	e*	Cray, Inc		25,775
5,878		Curtiss-Wright Corp		295,076
1,872	*	Cymer, Inc		72,877
14,238	*	Electronics for Imaging, Inc		320,070
8,502	*	Emulex Corp		138,753
5,282	*	EnPro Industries, Inc		161,893
25,158	e*	Entegris, Inc		217,114
27,293	*	Extreme Networks, Inc		96,617
2,429	*	Gehl Co		38,961
1,786	*	Goodman Global, Inc		43,828
2,774		Hardinge, Inc		46,548
6,848	*	Immersion Corp		88,682
3,302	*	Kadant, Inc		97,970
1,267	e	Kaydon Corp		69,102
1,243	*	Kulicke & Soffa Industries, Inc		8,527
1,725	e	Lindsay Manufacturing Co		121,940
8,217		Modine Manufacturing Co		135,663
1,481		Nacco Industries, Inc (Class A)		147,641
680	e*	Netezza Corp		9,384
2,029		Nordson Corp		117,601
12,374	*	Oil States International, Inc		422,201
25,421	d, e	Palm, Inc		161,169
49,565	*	Quantum Corp		133,330
6,584	*	Rackable Systems, Inc		65,840
359	*	Rimage Corp		9,316
3,540		Robbins & Myers, Inc		267,730
29,519	e*	Safeguard Scientifics, Inc		53,134
1,232		Sauer-Danfoss, Inc		30,862
725	e*	Scansource, Inc		23,454
4,504	e*	Semitool, Inc		39,095
1,663	e*	Silicon Graphics, Inc		30,400
3,150		Standex International Corp		54,968
5,621	e*	STEC, Inc		49,128
230	*	T-3 Energy Services, Inc		10,812
3,900	*	Tecumseh Products Co (Class A)		91,299
2,115		Tennant Co		93,673
2,954	*	Ultratech, Inc		33,498
471	e	Watsco, Inc		17,314
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		5,493,729
INSTRUMENTS AND RELATED PRODUCTS - 2.77%
3,324		Analogic Corp		225,101

248

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,875	*	Anaren, Inc	$	63,899
2,820	*	Angiodynamics, Inc		53,693
2,010	*	Argon ST, Inc		37,306
559		Badger Meter, Inc		25,127
4,681	*	Bio-Rad Laboratories, Inc (Class A)		485,045
2,806	*	Cantel Medical Corp		40,911
3,168		Cohu, Inc		48,470
7,167	*	Conmed Corp		165,629
25,863	*	Credence Systems Corp		62,588
3,299		Datascope Corp		120,084
329	*	Eagle Test Systems, Inc		4,205
5,885	*	Esterline Technologies Corp		304,549
2,322	*	Excel Technology, Inc		62,926
565	*	Haemonetics Corp		35,606
1,149	e*	ICU Medical, Inc		41,375
490	*	Insulet Corp		11,505
7,299	e	Invacare Corp		183,935
3,457	*	Ixia		32,772
738	*	Kensey Nash Corp		22,081
6,795	e*	L-1 Identity Solutions, Inc		121,970
520	*	Masimo Corp		20,514
2,085	*	Measurement Specialties, Inc		46,079
580	*	Medical Action Industries, Inc		12,093
5,954	*	Merit Medical Systems, Inc		82,761
4,432		Mine Safety Appliances Co		229,888
12,050	*	MKS Instruments, Inc		230,637
4,238		Movado Group, Inc		107,179
1,747		MTS Systems Corp		74,544
8,603	e*	Newport Corp		110,032
1,700	*	Orthofix International NV		98,549
862	*	Rofin-Sinar Technologies, Inc		41,471
3,558	*	Rudolph Technologies, Inc		40,277
4,390	e*	Sonic Solutions, Inc		45,612
8,842		STERIS Corp		255,003
7,890	*	Symmetry Medical, Inc		137,523
1,370	*	Teledyne Technologies, Inc		73,062
320	*	Trans1, Inc		5,270
3,230	*	Varian, Inc		210,919
6,630	e*	Veeco Instruments, Inc		110,721
360	e*	Vital Images, Inc		6,505
273		Vital Signs, Inc		13,956
488	*	Wright Medical Group, Inc		14,235
5,411	*	X-Rite, Inc		62,876
1,362	*	Zoll Medical Corp		36,393
3,943	*	Zygo Corp		49,130
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		4,264,006
INSURANCE AGENTS, BROKERS AND SERVICE - 0.41%
6,097	e	Crawford & Co (Class B)		25,303
8,611		Hilb Rogal & Hobbs Co		349,348
3,047	e	National Financial Partners Corp		138,974
6,073	*	United America Indemnity Ltd (Class A)		120,974
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		634,599
INSURANCE CARRIERS - 7.11%
8,310		Alfa Corp		180,078
14,071		American Equity Investment Life Holding Co		116,649

249

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,360		American Physicians Capital, Inc	$	97,846
13,258	*	AMERIGROUP Corp		483,254
4,724	*	Amerisafe, Inc		73,269
1,428	e	Amtrust Financial Services, Inc		19,664
7,371	*	Argo Group International Holdings Ltd		310,540
22,144		Aspen Insurance Holdings Ltd		638,633
17,032		Assured Guaranty Ltd		452,029
2,120		Baldwin & Lyons, Inc (Class B)		58,215
1,628		Castlepoint Holdings Ltd		19,536
3,329	*	Centene Corp		91,348
8,262	e*	Citizens, Inc		45,689
4,220	*	CNA Surety Corp		83,514
12,274		Commerce Group, Inc		441,619
509	*	Darwin Professional Underwriters, Inc		12,303
10,831		Delphi Financial Group, Inc (Class A)		382,118
3,340	e	Donegal Group, Inc (Class A)		57,348
1,530		EMC Insurance Group, Inc		36,215
12,458		Employers Holdings, Inc		208,173
3,680		FBL Financial Group, Inc (Class A)		127,070
4,779	*	First Acceptance Corp		20,167
1,324	*	First Mercury Financial Corp		32,306
3,324		Flagstone Reinsurance Holdings Ltd		46,204
2,478	*	Fpic Insurance Group, Inc		106,504
2,404	e*	Greenlight Capital Re Ltd (Class A)		49,979
1,364	*	Hallmark Financial Services		21,633
3,889		Harleysville Group, Inc		137,593
4,470	*	Healthspring, Inc		85,154
10,899		Horace Mann Educators Corp		206,427
1,770	e	Independence Holding Co		22,391
4,106		Infinity Property & Casualty Corp		148,350
15,193		IPC Holdings Ltd		438,622
1,184		Kansas City Life Insurance Co		51,611
4,212	e	LandAmerica Financial Group, Inc		140,891
15,152		Max Re Capital Ltd		424,104
8,062	*	Meadowbrook Insurance Group, Inc		75,863
2,505		Midland Co		162,048
3,486	*	Molina Healthcare, Inc		134,908
25,850		Montpelier Re Holdings Ltd		439,709
974		National Interstate Corp		32,239
585		National Western Life Insurance Co (Class A)		121,311
3,322	*	Navigators Group, Inc		215,930
1,357	e	NYMAGIC, Inc		31,387
7,115		Odyssey Re Holdings Corp		261,192
28,509		Phoenix Cos, Inc		338,402
15,039		Platinum Underwriters Holdings Ltd		534,787
8,027	*	PMA Capital Corp (Class A)		65,982
5,321		Presidential Life Corp		93,171
9,232	e*	Primus Guaranty Ltd		64,716
8,373	*	ProAssurance Corp		459,845
5,188	e*	RAM Holdings Ltd		25,629
5,292	e	RLI Corp		300,533
4,132		Safety Insurance Group, Inc		151,314
16,387	v*	Scottish Re Group Ltd		11,799
5,232	*	SeaBright Insurance Holdings, Inc		78,899
6,348	e	Security Capital Assurance Ltd		24,694
13,789		Selective Insurance Group, Inc		317,009
3,608		State Auto Financial Corp		94,890

250

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,233	e	Stewart Information Services Corp	$	110,439
3,094	e*	Triad Guaranty, Inc		30,321
5,566		United Fire & Casualty Co		161,915
9,434	*	Universal American Financial Corp		241,416
3,690	*	Validus Holdings Ltd		95,866
9,307		Zenith National Insurance Corp		416,302
		TOTAL INSURANCE CARRIERS		10,959,562
LEATHER AND LEATHER PRODUCTS - 0.28%
998	e*	Genesco, Inc		37,724
2,526		Steven Madden Ltd		50,520
7,408	*	Timberland Co (Class A)		133,937
1,820	e	Weyco Group, Inc		50,050
6,384		Wolverine World Wide, Inc		156,536
		TOTAL LEATHER AND LEATHER PRODUCTS		428,767
LUMBER AND WOOD PRODUCTS - 0.16%
2,755		American Woodmark Corp		50,086
3,141	*	Champion Enterprises, Inc		29,588
1,510	e	Skyline Corp		44,319
4,115		Universal Forest Products, Inc		121,228
		TOTAL LUMBER AND WOOD PRODUCTS		245,221
METAL MINING - 0.44%
53,939	e*	Coeur d'Alene Mines Corp		266,459
6,056	*	Rosetta Resources, Inc		120,090
3,924		Royal Gold, Inc		119,760
9,713	e*	Stillwater Mining Co		93,828
6,674	e*	Uranium Resources, Inc		83,292
		TOTAL METAL MINING		683,429
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.57%
5,447		Blyth, Inc		119,507
16,660		Callaway Golf Co		290,384
7,126	e*	Jakks Pacific, Inc		168,245
2,779	e	Marine Products Corp		19,481
5,050	e	Nautilus, Inc		24,493
4,757	*	RC2 Corp		133,529
4,215	*	Russ Berrie & Co, Inc		68,957
2,031		Steinway Musical Instruments, Inc		55,995
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		880,591
MISCELLANEOUS RETAIL - 0.41%
746	*	AC Moore Arts & Crafts, Inc		10,258
3,698		Books-A-Million, Inc		44,080
14,422	e	Borders Group, Inc		153,594
389		Cash America International, Inc		12,565
641	*	CKX, Inc		7,692
640	e*	Gander Mountain Co		3,155
500		Longs Drug Stores Corp		23,500
1,996	*	PC Connection, Inc		22,655
2,355		Pricesmart, Inc		70,791
1,217	e	Systemax, Inc		24,729
1,184	e*	Valuevision International, Inc (Class A)		7,447
1,593		World Fuel Services Corp		46,245
12,313	e*	Zale Corp		197,747
		TOTAL MISCELLANEOUS RETAIL		624,458

251

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
MOTION PICTURES - 0.42%
10,349	*	Avid Technology, Inc	$	293,291
47,292	e*	Blockbuster, Inc (Class A)		184,439
3,256	e	Carmike Cinemas, Inc		23,639
3,499	e	Cinemark Holdings, Inc		59,483
1,095	*	Gaiam, Inc (Class A)		32,500
2,677	e*	Time Warner Telecom, Inc (Class A)		54,316
		TOTAL MOTION PICTURES		647,668
NONCLASSIFIABLE ESTABLISHMENTS - 0.15%
5,369	e*	Energy Infrastructure Acquisition Corp		54,442
8,270	e*	Hicks Acquisition Co I, Inc		76,001
3,000	*	NRDC Acquisition Corp		27,510
7,200	*	Triplecrown Acquisition Corp		65,808
		TOTAL NONCLASSIFIABLE ESTABLISHMENTS		223,761
NONDEPOSITORY INSTITUTIONS - 1.35%
1,020		Advance America Cash Advance Centers, Inc		10,363
4,886		Advanta Corp (Class B)		39,430
6,340	e*	Aldabra 2 Acquisition Corp		61,752
6,370	*	Alternative Asset Management Acquisition Corp		58,286
17,468		Ares Capital Corp		255,557
983	e	Asta Funding, Inc		25,991
1,600	e	BlackRock Kelso Capital Corp		24,448
5,761	e	Centerline Holding Co		43,899
6,210		Chimera Investment Corp		111,035
1,999	e*	CompuCredit Corp		19,950
3,476	*	Encore Capital Group, Inc		33,648
2,614		Federal Agricultural Mortgage Corp (Class C)		68,800
6,627	e	Financial Federal Corp		147,716
3,000	e*	Heckmann Corp		22,050
7,972		Hercules Technology Growth Capital, Inc		99,012
5,370	e*	Information Services Group, Inc		36,785
3,181	*	INVESTools, Inc		56,431
3,527		Kohlberg Capital Corp		42,324
9,682	e*	Marathon Acquisition Corp		75,326
15,849		MCG Capital Corp		183,690
1,220	*	Mercadolibre, Inc		90,134
4,143	e	Nelnet, Inc (Class A)		52,658
1,420	*	NewStar Financial, Inc		11,758
4,346	e	NGP Capital Resources Co		67,928
5,903	e*	NTR Acquisition Co		56,079
9,337	e*	Ocwen Financial Corp		51,727
4,883	e	Patriot Capital Funding, Inc		49,269
13,406	*	PHH Corp		236,482
5,111	e	TICC Capital Corp		47,175
		TOTAL NONDEPOSITORY INSTITUTIONS		2,079,703
NONMETALLIC MINERALS, EXCEPT FUELS - 0.32%
4,403	e	AMCOL International Corp		158,640
8,079		Compass Minerals International, Inc		331,239
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		489,879
OIL AND GAS EXTRACTION - 4.20%
2,888	e*	Basic Energy Services, Inc		63,392
5,965		Berry Petroleum Co (Class A)		265,144

252

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,584	*	Bill Barrett Corp	$	66,322
778	*	Bois d'Arc Energy, Inc		15,443
11,571	*	Brigham Exploration Co		87,014
6,469	e*	Bronco Drilling Co, Inc		96,065
5,069	*	Cal Dive International, Inc		67,114
5,224	*	Callon Petroleum Co		85,935
1,403	*	Clayton Williams Energy, Inc		43,717
2,913	*	Comstock Resources, Inc		99,042
1,240	*	Concho Resources, Inc		25,556
172	*	Dawson Geophysical Co		12,291
7,180	*	Edge Petroleum Corp		42,577
13,353	*	Encore Acquisition Co		445,590
6,964	e*	Energy Partners Ltd		82,245
15,528	e*	EXCO Resources, Inc		240,373
15,156	*	Exterran Holdings, Inc		1,239,761
4,748	*	Geomet, Inc		24,690
42,910	*	Grey Wolf, Inc		228,710
9,250	e*	Harvest Natural Resources, Inc		115,625
2,358		Kayne Anderson Energy Development Co		54,022
10,218	*	Mariner Energy, Inc		233,788
5,459	e*	McMoRan Exploration Co		71,458
22,918	*	Meridian Resource Corp		41,482
2,796	*	Newpark Resources, Inc		15,238
30,815	*	Oilsands Quest, Inc		125,725
5,763	*	Parker Drilling Co		43,511
5,173		Penn Virginia Corp		225,698
800	m,v*	PetroCorp		(0)
20,625	*	PetroHawk Energy Corp		357,019
3,267	*	Petroleum Development Corp		193,178
12,642	*	Pioneer Drilling Co		150,187
1,090	*	Rex Energy Corp		13,004
7,041	*	Stone Energy Corp		330,293
4,556	e*	Sulphco, Inc		23,782
801	e*	Superior Offshore International, Inc		4,021
1,130	*	Superior Well Services, Inc		23,979
7,514	*	Swift Energy Co		330,841
3,968	e*	Toreador Resources Corp		27,736
3,060	e*	Trico Marine Services, Inc		113,281
3,304	*	Union Drilling, Inc		52,104
15,056	e*	Vaalco Energy, Inc		70,010
739	e*	Warren Resources, Inc		10,442
10,565	*	Whiting Petroleum Corp		609,178
		TOTAL OIL AND GAS EXTRACTION		6,466,583
PAPER AND ALLIED PRODUCTS - 0.73%
13,579	e*	AbitibiBowater, Inc		279,863
9,352	*	Buckeye Technologies, Inc		116,900
4,900	*	Chesapeake Corp		25,431
11,414		Glatfelter		174,748
8,123	*	Mercer International, Inc		63,603
1,176		Neenah Paper, Inc		34,280
8,830		Rock-Tenn Co (Class A)		224,370
3,870		Schweitzer-Mauduit International, Inc		100,272
10,955		Wausau Paper Corp		98,485
		TOTAL PAPER AND ALLIED PRODUCTS		1,117,952

253

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
PERSONAL SERVICES - 0.57%
4,921	*	Coinstar, Inc	$	138,526
5,422		G & K Services, Inc (Class A)		203,433
1,364	e	Jackson Hewitt Tax Service, Inc		43,307
11,132		Regis Corp		311,251
1,032	*	Steiner Leisure Ltd		45,573
3,535		Unifirst Corp		134,330
		TOTAL PERSONAL SERVICES		876,420
PETROLEUM AND COAL PRODUCTS - 0.17%
950	*	CVR Energy Inc		23,693
1,355		Delek US Holdings, Inc		27,412
9,705	e*	Headwaters, Inc		113,937
2,749		WD-40 Co		104,380
		TOTAL PETROLEUM AND COAL PRODUCTS		269,422
PRIMARY METAL INDUSTRIES - 1.72%
3,263	*	Century Aluminum Co		176,006
2,188	*	Claymont Steel, Inc		51,090
1,223	*	CommScope, Inc		60,188
5,807	e	Encore Wire Corp		92,447
47	e*	Esmark, Inc		664
6,290	e	Gibraltar Industries, Inc		96,992
600	*	Horsehead Holding Corp		10,182
240	*	LB Foster Co (Class A)		12,415
9,311		Mueller Industries, Inc		269,926
2,098	e*	Northwest Pipe Co		82,116
2,226		Olympic Steel, Inc		70,586
9,279		Quanex Corp		481,580
5,468		Schnitzer Steel Industries, Inc (Class A)		378,003
5,024	*	Superior Essex, Inc		120,576
3,966		Texas Industries, Inc		278,017
8,091		Tredegar Corp		130,103
845	*	Universal Stainless & Alloy		30,057
17,360		Worthington Industries, Inc		310,397
		TOTAL PRIMARY METAL INDUSTRIES		2,651,345
PRINTING AND PUBLISHING - 1.44%
9,803	*	ACCO Brands Corp		157,240
13,921		American Greetings Corp (Class A)		282,596
21,276		Belo (A.H.) Corp (Class A)		371,053
6,793		Bowne & Co, Inc		119,557
353	*	Consolidated Graphics, Inc		16,880
659		Courier Corp		21,754
1,972		CSS Industries, Inc		72,372
1,150	*	Dolan Media Co		33,546
6,300		Ennis, Inc		113,400
5,777	e	GateHouse Media, Inc		50,722
11,603		Journal Communications, Inc (Class A)		103,731
11,503	e	Lee Enterprises, Inc		168,519
5,443		Media General, Inc (Class A)		115,664
270		Multi-Color Corp		7,417
5,180	e*	Playboy Enterprises, Inc (Class B)		47,242
11,075		Primedia, Inc		94,138
3,236		Schawk, Inc		50,223
7,698	*	Scholastic Corp		268,583
3,384		Standard Register Co		39,457
7,259	e*	Sun-Times Media Group, Inc (Class A)		15,970

254

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
6,246	e*	Valassis Communications, Inc	$	73,016
		TOTAL PRINTING AND PUBLISHING		2,223,080
RAILROAD TRANSPORTATION - 0.06%
3,681	*	Genesee & Wyoming, Inc (Class A)		88,970
		TOTAL RAILROAD TRANSPORTATION		88,970
REAL ESTATE - 0.23%
5,300		DuPont Fabros Technology Inc		103,880
23,905		Stewart Enterprises, Inc (Class A)		212,755
1,227	*	Stratus Properties, Inc		41,644
		TOTAL REAL ESTATE		358,279
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.52%
15,501		Cooper Tire & Rubber Co		257,007
6,872		Schulman (A.), Inc		148,092
8,236		Spartech Corp		116,128
2,216	e*	Trex Co, Inc		18,858
7,789		Tupperware Corp		257,271
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		797,356
SECURITY AND COMMODITY BROKERS - 1.02%
5,006		Calamos Asset Management, Inc (Class A)		149,079
3,813	*	Cowen Group, Inc		36,262
1,320	*	Duff & Phelps Corp		25,978
2,025		Evercore Partners, Inc (Class A)		43,639
5,600	*	FBR Capital Markets Corp		53,648
1,040		GAMCO Investors, Inc (Class A)		71,968
5,645	e*	Interactive Brokers Group, Inc (Class A)		182,446
6,784	*	KBW, Inc		173,603
15,042	*	Knight Capital Group, Inc (Class A)		216,605
13,112	e*	LaBranche & Co, Inc		66,084
330	*	Penson Worldwide, Inc		4,736
4,390	*	Piper Jaffray Cos		203,345
1,090	e	Pzena Investment Management Inc		12,426
4,338	e	Sanders Morris Harris Group, Inc		44,465
4,975		SWS Group, Inc		63,033
5,423	*	Thomas Weisel Partners Group, Inc		74,458
3,540		Waddell & Reed Financial, Inc (Class A)		127,759
3,294	*	WP Stewart & Co Ltd		16,832
		TOTAL SECURITY AND COMMODITY BROKERS		1,566,366
SOCIAL SERVICES - 0.14%
4,239	*	Capital Senior Living Corp		42,093
852	*	Providence Service Corp		23,975
6,200	*	Res-Care, Inc		155,992
		TOTAL SOCIAL SERVICES		222,060
SPECIAL TRADE CONTRACTORS - 0.56%
7,989	*	AsiaInfo Holdings, Inc		87,879
462		Chemed Corp		25,817
8,991		Comfort Systems USA, Inc		114,905
5,229	*	Dycom Industries, Inc		139,353
15,698	*	EMCOR Group, Inc		370,944
6,724	e*	Insituform Technologies, Inc (Class A)		99,515
1,748	e*	Integrated Electrical Services, Inc		32,845
		TOTAL SPECIAL TRADE CONTRACTORS		871,258

255

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
STONE, CLAY, AND GLASS PRODUCTS - 0.07%
1,158	*	Cabot Microelectronics Corp	$	41,584
3,205		Libbey, Inc		50,767
5,915	*	US Concrete, Inc		19,697
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		112,048
TEXTILE MILL PRODUCTS - 0.07%
3,834	e	Oxford Industries, Inc		98,802
2,651		Xerium Technologies, Inc		13,785
		TOTAL TEXTILE MILL PRODUCTS		112,587
TOBACCO PRODUCTS - 0.26%
6,772		Universal Corp		346,862
2,764	e	Vector Group Ltd		55,446
		TOTAL TOBACCO PRODUCTS		402,308
TRANSPORTATION BY AIR - 1.09%
14,476	*	ABX Air, Inc		60,510
10,162	*	Alaska Air Group, Inc		254,152
3,282	*	Atlas Air Worldwide Holdings, Inc		177,950
5,082	e*	Bristow Group, Inc		287,895
12,958	e*	ExpressJet Holdings, Inc		32,136
38,693	*	JetBlue Airways Corp		228,289
1,787	*	PHI, Inc		55,433
8,305	*	Republic Airways Holdings, Inc		162,695
15,285		Skywest, Inc		410,402
		TOTAL TRANSPORTATION BY AIR		1,669,462
TRANSPORTATION EQUIPMENT - 1.75%
5,217		A.O. Smith Corp		182,856
578	*	AAR Corp		21,981
6,099	*	Accuride Corp		47,938
5,555	*	Aftermarket Technology Corp		151,429
11,240		American Axle & Manufacturing Holdings, Inc		209,289
3,111	e	Arctic Cat, Inc		37,145
17,580	e	ArvinMeritor, Inc		206,213
6,491		Clarcor, Inc		246,463
12,232		Federal Signal Corp		137,243
2,819	e	Freightcar America, Inc		98,665
3,932		Greenbrier Cos, Inc		87,526
5,973	e	Group 1 Automotive, Inc		141,859
3,970		Kaman Corp		146,136
1,901	*	Miller Industries, Inc		26,025
7,404	e	Monaco Coach Corp		65,748
2,297	*	Orbital Sciences Corp		56,322
1,397	e	Polaris Industries, Inc		66,735
3,934		Standard Motor Products, Inc		32,101
5,621	e	Superior Industries International, Inc		102,134
8,990	*	Tenneco, Inc		234,369
3,234	e	Triumph Group, Inc		266,320
15,604	e*	Visteon Corp		68,502
7,575		Wabash National Corp		58,252
632	e	Winnebago Industries, Inc		13,285
		TOTAL TRANSPORTATION EQUIPMENT		2,704,536

256

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION SERVICES - 0.32%
1,243	*	Ambassadors International, Inc	$	18,123
12,855	*	Lear Corp		355,569
2,990	*	Orbitz Worldwide, Inc		25,415
5,984		Pacer International, Inc		87,366
		TOTAL TRANSPORTATION SERVICES		486,473
TRUCKING AND WAREHOUSING - 0.43%
5,550	e	Arkansas Best Corp		121,767
1,649		Forward Air Corp		51,399
9,600		Heartland Express, Inc		136,128
3,662	*	Marten Transport Ltd		51,085
395	e*	Old Dominion Freight Line		9,128
390	e*	Patriot Transportation Holding, Inc		35,970
3,315	*	Saia, Inc		44,090
729	*	Universal Truckload Services, Inc		13,968
11,742	e	Werner Enterprises, Inc		199,966
		TOTAL TRUCKING AND WAREHOUSING		663,501
WATER TRANSPORTATION - 1.08%
8,406		Eagle Bulk Shipping, Inc		223,179
4,740	e	Genco Shipping & Trading Ltd		259,562
7,045	e	General Maritime Corp		172,250
6,934		Golar LNG Ltd		153,380
5,748	*	Gulfmark Offshore, Inc		268,949
5,788	*	Hornbeck Offshore Services, Inc		260,171
250		Knightsbridge Tankers Ltd		6,038
7,375	e	Nordic American Tanker Shipping		242,048
1,204	e*	TBS International Ltd (Class A)		39,804
2,504	e*	Ultrapetrol Bahamas Ltd		42,593
		TOTAL WATER TRANSPORTATION		1,667,974
WHOLESALE TRADE-DURABLE GOODS - 1.23%
6,619		Agilysys, Inc		100,079
8,951		Applied Industrial Technologies, Inc		259,758
1,102		Barnes Group, Inc		36,796
841	*	Beacon Roofing Supply, Inc		7,081
2,910	e*	BlueLinx Holdings, Inc		11,436
6,747	e	Building Material Holding Corp		37,311
2,256		Castle (A.M.) & Co		61,341
5,447	*	Digi International, Inc		77,293
6,860	*	Genesis Microchip, Inc		58,790
630	e*	Hansen Medical, Inc		18,862
27,028		IKON Office Solutions, Inc		351,905
12,165	*	Insight Enterprises, Inc		221,890
4,078	*	Interline Brands, Inc		89,349
931		Lawson Products, Inc		35,304
8,365		Owens & Minor, Inc		354,927
8,240	e	PEP Boys-Manny Moe & Jack		94,595
1,985	*	Solera Holdings, Inc		49,188
320	*	TomoTherapy, Inc		6,259
3,396	e*	West Marine, Inc		30,496
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,902,660
WHOLESALE TRADE-NONDURABLE GOODS - 1.06%
3,960		Andersons, Inc		177,408
1,390	e*	Central European Distribution Corp		80,731
2,219	e*	Core-Mark Holding Co, Inc		63,730

257

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,690	*	Fresh Del Monte Produce, Inc	$	258,230
9,917	*	Hain Celestial Group, Inc		317,344
2,496		Kenneth Cole Productions, Inc (Class A)		43,655
4,296	e	K-Swiss, Inc (Class A)		77,758
830	e*	Maui Land & Pineapple Co, Inc		24,161
1,909	e	Nash Finch Co		67,350
4,166		Nu Skin Enterprises, Inc (Class A)		68,447
902	*	Nuco2, Inc		22,460
2,655	*	Perry Ellis International, Inc		40,834
4,345	*	School Specialty, Inc		150,120
8,839	e*	Source Interlink Cos, Inc		25,456
3,558		Spartan Stores, Inc		81,300
2,495	*	United Stationers, Inc		115,294
1,448	*	Zep Inc		20,042
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,634,320
		TOTAL COMMON STOCKS		153,064,547
		(Cost $163,439,088)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 5.67%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.07%
$        110,000		Federal Home Loan Bank (FHLB), 01/02/08		110,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		110,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.60%
8,635,071		State Street Navigator Securities Lending Prime Portfolio		8,635,071
				8,635,071
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $8,745,061)		8,745,071
		TOTAL PORTFOLIO - 104.99%
		(Cost $172,184,149)		161,809,618
		OTHER ASSETS & LIABILITIES, NET - (4.99)%		(7,688,791	)
		NET ASSETS - 100.00%	$	154,120,827
	*	Non-income producing
	b	In bankruptcy
	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 $17,752.
	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.
		At December 31, 2007, the unrealized depreciation on investments was $10,374,531 consisting of
		gross unrealized appreciation of $15,061,337 and gross unrealized depreciation of $25,435,868.

258

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL -CAP BLEND INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.05%
AGRICULTURAL PRODUCTION-CROPS - 0.06%
7,523	e*	Chiquita Brands International, Inc	$	138,348
		TOTAL AGRICULTURAL PRODUCTION-CROPS		138,348
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.16%
2,266	e	Cal-Maine Foods, Inc		60,117
7,178	e	Pilgrim's Pride Corp		207,803
71		Seaboard Corp		104,370
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		372,290
AGRICULTURAL SERVICES - 0.02%
2,197	e*	Cadiz, Inc		46,137
		TOTAL AGRICULTURAL SERVICES		46,137
AMUSEMENT AND RECREATION SERVICES - 0.95%
9,474	e*	Bally Technologies, Inc		471,047
1,677		Churchill Downs, Inc		90,508
2,800		Dover Downs Gaming & Entertainment, Inc		31,500
3,453	*	Lakes Entertainment, Inc		23,929
6,109	*	Leapfrog Enterprises, Inc		41,114
5,949	*	Life Time Fitness, Inc		295,546
13,045	*	Live Nation, Inc		189,413
3,931	e*	MTR Gaming Group, Inc		26,691
12,657	*	Magna Entertainment Corp		12,277
8,816	e*	Marvel Entertainment, Inc		235,475
4,287	e*	Multimedia Games, Inc		35,754
10,612	*	Pinnacle Entertainment, Inc		250,019
12,941	e*	Six Flags, Inc		26,270
2,499		Speedway Motorsports, Inc		77,669
2,942	*	Town Sports International Holdings, Inc		28,126
7,223	e*	WMS Industries, Inc		264,651
14,795	*	Westwood One, Inc		29,442
4,012		World Wrestling Entertainment, Inc		59,217
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,188,648
APPAREL AND ACCESSORY STORES - 1.33%
13,788	*	Aeropostale, Inc		365,382
4,189		Bebe Stores, Inc		53,871
7,945		Brown Shoe Co, Inc		120,526
2,509		Buckle, Inc		82,797
2,345	*	Cache, Inc		21,902
10,386	*	Carter's, Inc		200,969
6,292	*	Casual Male Retail Group, Inc		32,593
5,314		Cato Corp (Class A)		83,217
4,489	*	Charlotte Russe Holding, Inc		72,497
21,917	e*	Charming Shoppes, Inc		118,571
4,072	e*	Children's Place Retail Stores, Inc		105,587
6,439		Christopher & Banks Corp		73,727
2,440	e*	Citi Trends, Inc		37,674
11,610	*	Collective Brands, Inc		201,898

259

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,689	e*	DSW, Inc (Class A)	$	50,446
8,401	*	Dress Barn, Inc		105,097
5,578	*	Eddie Bauer Holdings, Inc		35,420
7,974	*	Finish Line, Inc (Class A)		19,297
8,030	*	HOT Topic, Inc		46,735
6,923	*	J Crew Group, Inc		333,758
3,265	e*	JOS A Bank Clothiers, Inc		92,889
4,550	*	Jo-Ann Stores, Inc		59,514
3,861	*	New York & Co, Inc		24,633
12,485	*	Pacific Sunwear Of California, Inc		176,163
1,662	e*	Shoe Carnival, Inc		23,451
7,727		Stage Stores, Inc		114,360
1,560	e	Syms Corp		23,556
4,057	e	Talbots, Inc		47,954
4,360	*	Tween Brands, Inc		115,453
4,398	*	Under Armour, Inc (Class A)		192,061
14,440	*	Wet Seal, Inc (Class A)		33,645
		TOTAL APPAREL AND ACCESSORY STORES		3,065,643
APPAREL AND OTHER TEXTILE PRODUCTS - 0.47%
2,543	e	Columbia Sportswear Co		112,121
2,368	*	G-III Apparel Group Ltd		34,975
5,469	*	Gymboree Corp		166,586
4,611	e	Kellwood Co		76,727
2,270	e*	Lululemon Athletica, Inc		107,530
3,783	*	Maidenform Brands, Inc		51,184
22,112	*	Quiksilver, Inc		189,721
2,321	e*	True Religion Apparel, Inc		49,553
8,230	*	Warnaco Group, Inc		286,404
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,074,801
AUTO REPAIR, SERVICES AND PARKING - 0.31%
1,776	*	Amerco, Inc		116,648
4,014	e*	Dollar Thrifty Automotive Group, Inc		95,052
13,136	*	Exide Technologies		105,088
2,652	*	Midas, Inc		38,878
3,069		Monro Muffler, Inc		59,815
913	*	Standard Parking Corp		44,271
7,101	*	Wright Express Corp		252,014
		TOTAL AUTO REPAIR, SERVICES AND PARKING		711,766
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.17%
4,529		Asbury Automotive Group, Inc		68,161
7,210	e*	CSK Auto Corp		36,122
2,796		Lithia Motors, Inc (Class A)		38,389
2,928	e*	MarineMax, Inc		45,384
5,883	e*	Rush Enterprises, Inc (Class A)		106,953
5,507		Sonic Automotive, Inc (Class A)		106,616
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		401,625
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.04%
2,920	e*	Builders FirstSource, Inc		21,082
12,835	*	Central Garden and Pet Co (Class A)		68,796
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		89,878
BUSINESS SERVICES - 10.71%
69,223	*	3Com Corp		312,888

260

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,889	e*	3D Systems Corp	$	44,606
7,705		ABM Industries, Inc		157,105
6,604	e*	ACI Worldwide, Inc		125,740
6,163	*	AMN Healthcare Services, Inc		105,819
1,240	e*	athenahealth, Inc		44,640
8,242		Aaron Rents, Inc		158,576
4,946	*	Acacia Research (Acacia Technologies)		44,415
11,085	*	Actuate Corp		86,130
4,166		Administaff, Inc		117,814
3,080	e*	Advent Software, Inc		166,628
5,288	*	American Reprographics Co		87,146
3,021	*	Ansoft Corp		78,093
13,789	*	Ansys, Inc		571,692
5,004		Arbitron, Inc		208,016
13,939	e*	Ariba, Inc		155,420
22,754	*	Art Technology Group, Inc		98,297
15,667	*	Aspen Technology, Inc		254,119
2,804	e	Asset Acceptance Capital Corp		29,190
8,974	*	Avocent Corp		209,184
9,187	e*	BPZ Energy, Inc		102,711
1,998	e*	Bankrate, Inc		96,084
1,514		Barrett Business Services		27,267
35,975	*	BearingPoint, Inc		101,809
7,816		Blackbaud, Inc		219,161
5,078	*	Blackboard, Inc		204,390
960	*	BladeLogic, Inc		28,387
4,950	*	Blue Coat Systems, Inc		162,707
12,041	e*	Borland Software Corp		36,243
3,745	*	Bottomline Technologies, Inc		52,430
8,964		Brady Corp (Class A)		314,547
5,492	*	CACI International, Inc (Class A)		245,877
1,263	*	Cavium Networks, Inc		29,074
8,433	*	CBIZ, Inc		82,728
8,666	*	CMGI, Inc		113,438
26,897	e*	CNET Networks, Inc		245,839
6,196	*	Commvault Systems, Inc		131,231
3,105	*	COMSYS IT Partners, Inc		48,997
7,211	*	CSG Systems International, Inc		106,146
1,904	*	Capella Education Co		124,636
6,135	*	Chordiant Software, Inc		52,454
9,652	*	Ciber, Inc		58,974
2,421	e*	Clayton Holdings, Inc		12,517
3,411	*	CoStar Group, Inc		161,170
8,883	*	Cogent Communications Group, Inc		210,616
7,747	e*	Cogent, Inc		86,379
7,864		Cognex Corp		158,460
3,722		Compass Diversified Trust		55,458
1,180	*	Compellent Technologies Inc		14,195
1,684		Computer Programs & Systems, Inc		38,294
7,601	*	Concur Technologies, Inc		275,232
1,290	*	Constant Contact Inc		27,735
11,398	*	Cybersource Corp		202,542
1,780	*	Double-Take Software, Inc		38,662
1,670	*	Data Domain, Inc		43,988
6,327	*	DealerTrack Holdings, Inc		211,765
1,600	*	Deltek, Inc		24,368
9,230		Deluxe Corp		303,575

261

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,810	*	Dice Holdings, Inc	$	22,452
7,347	*	Digital River, Inc		242,965
3,996	*	DivX, Inc		55,944
4,414	*	DynCorp International, Inc (Class A)		118,648
4,655	*	EPIQ Systems, Inc		81,044
21,930	*	Earthlink, Inc		155,045
5,162	*	Echelon Corp		106,544
8,118	*	Eclipsys Corp		205,467
3,079		Electro Rent Corp		45,723
10,291	*	Epicor Software Corp		121,228
6,394	*	Equinix, Inc		646,242
15,875	e*	Evergreen Energy, Inc		35,401
4,096	*	ExlService Holdings, Inc		94,536
3,293		FTD Group, Inc		42,414
5,522	*	FalconStor Software, Inc		62,178
1,656	*	First Advantage Corp (Class A)		27,274
2,712	*	Forrester Research, Inc		75,990
12,264	*	Gartner, Inc		215,356
4,076	*	Gerber Scientific, Inc		44,021
4,892	e	Gevity HR, Inc		37,619
8,367	e*	Global Cash Access, Inc		50,704
3,050	*	Global Sources Ltd		86,079
790	*	Guidance Software, Inc		11,013
3,020	*	H&E Equipment Services, Inc		57,018
3,735	*	HMS Holdings Corp		124,039
2,290	e*	HSW International Inc		14,267
7,397	e	Healthcare Services Group		156,668
2,911		Heartland Payment Systems, Inc		78,015
3,199		Heidrick & Struggles International, Inc		118,715
13,997		Jack Henry & Associates, Inc		340,687
4,427	*	Hudson Highland Group, Inc		37,231
9,660	*	Hypercom Corp		48,107
1,549	e*	ICT Group, Inc		18,511
5,591	*	IHS, Inc (Class A)		338,591
2,119	e	Imergent, Inc		22,440
15,537	*	Informatica Corp		279,977
5,867		Infospace, Inc		110,300
3,997	*	Innerworkings, Inc		68,988
1,950	e*	Innovative Solutions & Support, Inc		18,896
1,649	*	Integral Systems, Inc		38,356
6,415		Interactive Data Corp		211,759
2,290	*	Interactive Intelligence, Inc		60,342
8,695	*	Internap Network Services Corp		72,429
6,472	*	Internet Capital Group, Inc		75,981
7,796	*	Interwoven, Inc		110,859
9,282	e*	Ipass, Inc		37,685
4,559	*	JDA Software Group, Inc		93,277
3,766		Kelly Services, Inc (Class A)		70,274
4,598	*	Kenexa Corp		89,293
2,790	*	Keynote Systems, Inc		39,200
5,896	*	Kforce, Inc		57,486
4,943	e*	Knot, Inc		78,791
8,474	*	Korn/Ferry International		159,481
21,945	*	Lawson Software, Inc		224,717
3,060	e*	Limelight Networks, Inc		21,083
11,752	*	Lionbridge Technologies		41,720
2,075	*	Liquidity Services, Inc		26,768

262

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,280	*	LivePerson, Inc	$	38,875
3,297	*	LoJack Corp		55,423
18,239	*	MPS Group, Inc		199,535
7,765	*	MSC.Software Corp		100,867
7,100	*	Magma Design Automation, Inc		86,691
4,568	*	Manhattan Associates, Inc		120,412
3,468	*	Mantech International Corp (Class A)		151,968
5,085	e	Marchex, Inc (Class B)		55,223
15,925	*	Mentor Graphics Corp		171,672
1,705	*	MicroStrategy, Inc (Class A)		162,146
5,572	e*	Midway Games, Inc		15,379
1,820	*	Monotype Imaging Holdings, Inc		27,609
18,934	*	Move, Inc		46,388
7,498		NIC, Inc		63,283
6,173	*	Ness Technologies, Inc		56,977
8,346	e*	NetFlix, Inc		222,171
4,554	*	Network Equipment Technologies, Inc		38,345
23,434	*	Nuance Communications, Inc		437,747
6,095	*	Omniture, Inc		202,903
5,691	*	On Assignment, Inc		39,894
5,224	*	Online Resources Corp		62,270
18,565	e*	OpenTV Corp (Class A)		24,506
3,657	*	PDF Solutions, Inc		32,950
1,300	*	PROS Holdings, Inc		25,506
6,048	*	Packeteer, Inc		37,256
20,429	*	Parametric Technology Corp		364,658
2,294		Pegasystems, Inc		27,367
4,304	*	PeopleSupport, Inc		58,879
5,203	*	Perficient, Inc		81,895
15,524	*	Perot Systems Corp (Class A)		209,574
7,311	*	Phase Forward, Inc		159,014
2,700	e	Portfolio Recovery Associates, Inc		107,109
10,986	*	Premiere Global Services, Inc		163,142
7,297	*	Progress Software Corp		245,763
1,692	e	Protection One, Inc		20,118
2,069		QAD, Inc		19,324
3,025	e	Quality Systems, Inc		92,232
12,131	*	Quest Software, Inc		223,696
4,052	*	RSC Holdings, Inc		50,853
4,631	*	Radiant Systems, Inc		79,792
4,264	*	Radisys Corp		57,138
5,624	*	Raser Technologies, Inc		83,516
17,460	e*	RealNetworks, Inc		106,331
1,508	e	Renaissance Learning, Inc		21,112
12,515	*	Rent-A-Center, Inc		181,718
3,158	*	RightNow Technologies, Inc		50,054
7,735		Rollins, Inc		148,512
9,169	*	S1 Corp		66,934
2,271	*	SI International, Inc		62,384
3,270	*	SPSS, Inc		117,426
7,346	*	SRA International, Inc (Class A)		216,340
2,686	*	SYNNEX Corp		52,646
14,493	*	Sapient Corp		127,683
7,929	e*	Secure Computing Corp		76,118
5,133	e*	Smith Micro Software, Inc		43,477
4,783	*	Sohu.com, Inc		260,769
11,510	*	SonicWALL, Inc		123,387

263

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
47,541	e*	Sonus Networks, Inc	$	277,164
11,615		Sotheby's		442,532
946	*	Sourcefire, Inc		7,890
9,585	*	Spherion Corp		69,779
3,716	e*	Stratasys, Inc		96,021
1,930	e*	SuccessFactors Inc		22,813
16,239	*	Sybase, Inc		423,676
5,850	*	SYKES Enterprises, Inc		105,300
3,269	e*	Synchronoss Technologies, Inc		115,853
2,278	e	Syntel, Inc		87,749
2,807		TAL International Group, Inc		63,915
11,898	*	THQ, Inc		335,405
33,897	*	TIBCO Software, Inc		273,549
4,050		TNS, Inc		71,888
12,972	e*	Take-Two Interactive Software, Inc		239,333
2,908	*	Taleo Corp (Class A)		86,600
1,608	*	TechTarget, Inc		23,766
7,466	*	TeleTech Holdings, Inc		158,802
1,230	e	Textainer Group Holdings Ltd		17,872
3,922	e	TheStreet.com, Inc		62,438
918	*	Tiens Biotech Group USA, Inc		2,148
5,418	*	TradeStation Group, Inc		76,990
1,073	*	Travelzoo, Inc		14,679
8,111	*	Trizetto Group, Inc		140,888
7,718	*	TrueBlue, Inc		111,757
4,327	*	Ultimate Software Group, Inc		136,171
1,400	*	Unica Corp		12,950
11,866		United Online, Inc		140,256
1,293	*	Veraz Networks, Inc		6,232
17,524	*	Valueclick, Inc		383,776
4,753	*	Vasco Data Security International		132,704
3,579		Viad Corp		113,025
4,871	*	Vignette Corp		71,165
730	*	Virtusa Corp		12,651
3,483	*	Visual Sciences, Inc		64,366
2,430	*	Vocus, Inc		83,908
2,363	e*	Volt Information Sciences, Inc		43,148
8,000	*	Websense, Inc		135,840
13,518	*	Wind River Systems, Inc		120,716
3,125	e*	eSpeed, Inc (Class A)		35,313
2,792	*	i2 Technologies, Inc		35,179
3,941	*	iGate Corp		33,380
5,533	*	inVentiv Health, Inc		171,302
5,778		infoUSA, Inc		51,598
		TOTAL BUSINESS SERVICES		24,718,886
CHEMICALS AND ALLIED PRODUCTS - 8.10%
2,980	e*	AMAG Pharmaceuticals, Inc		179,187
5,102	e*	Acadia Pharmaceuticals, Inc		56,479
4,391	e*	Acorda Therapeutics, Inc		96,426
6,336	e*	Adams Respiratory Therapeutics, Inc		378,513
4,339	*	Albany Molecular Research, Inc		62,395
6,477	*	Alexion Pharmaceuticals, Inc		485,969
3,807	*	Alexza Pharmaceuticals, Inc		30,799
17,881	*	Alkermes, Inc		278,765
7,424	e*	Allos Therapeutics, Inc		46,697
6,186	*	Alnylam Pharmaceuticals, Inc		179,889

264

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,730	*	Alpharma, Inc (Class A)	$	155,760
9,506	*	American Oriental Bioengineering, Inc		105,326
3,154		American Vanguard Corp		54,722
714	e*	Amicus Therapeutics, Inc		7,676
2,390	*	Animal Health International, Inc		29,397
4,321		Arch Chemicals, Inc		158,797
12,826	*	Arena Pharmaceuticals, Inc		100,428
7,262	e*	Arqule, Inc		42,120
8,360	e*	Array Biopharma, Inc		70,391
6,913	e*	Arrowhead Research Corp		26,131
5,647	*	Auxilium Pharmaceuticals, Inc		169,354
5,347	e*	Aventine Renewable Energy Holdings, Inc		68,228
3,173		Balchem Corp		71,012
3,329	*	Bentley Pharmaceuticals, Inc		50,235
1,980	e*	BioForm Medical, Inc		13,523
17,001	*	BioMarin Pharmaceuticals, Inc		601,835
2,061	*	BioMimetic Therapeutics, Inc		35,800
715	e*	Biodel, Inc		16,609
9,168	e*	Bionovo, Inc		15,677
2,349	e*	Bradley Pharmaceuticals, Inc		46,275
2,868	e*	Cadence Pharmaceuticals, Inc		42,618
9,777		CF Industries Holdings, Inc		1,076,057
7,111	e*	Calgon Carbon Corp		112,994
5,126		Cambrex Corp		42,956
1,725	*	Caraco Pharmaceutical Laboratories Ltd		29,584
13,646	*	Cell Genesys, Inc		31,386
3,012	*	Chattem, Inc		227,526
9,792	*	Cubist Pharmaceuticals, Inc		200,834
6,456	*	Cypress Bioscience, Inc		71,210
15,064	e*	CytRx Corp		42,782
6,459	*	Cytokinetics, Inc		30,551
14,954	e*	Dendreon Corp		93,014
15,867	e*	Discovery Laboratories, Inc		34,114
12,638	*	Durect Corp		81,262
4,332	*	Elizabeth Arden, Inc		88,156
770	*	Emergent Biosolutions, Inc		3,896
14,783	*	Encysive Pharmaceuticals, Inc		12,566
7,650	e*	Enzon Pharmaceuticals, Inc		72,905
7,715		Ferro Corp		159,932
2,751	e*	GTx, Inc		39,477
13,758	*	GenVec, Inc		20,224
5,531	e	Georgia Gulf Corp		36,615
12,494	*	Geron Corp		70,966
10,790		H.B. Fuller Co		242,236
11,473	e*	Halozyme Therapeutics, Inc		81,573
20,736		Hercules, Inc		401,242
23,877	*	Human Genome Sciences, Inc		249,276
6,731	*	Idenix Pharmaceuticals, Inc		18,174
12,245	*	Immucor, Inc		416,208
10,133	e*	Indevus Pharmaceuticals, Inc		70,424
3,645		Innophos Holdings, Inc		54,238
4,414		Innospec, Inc		75,744
1,648	e	Inter Parfums, Inc		29,615
5,314	e*	InterMune, Inc		70,836
11,970	*	Inverness Medical Innovations, Inc		672,475
8,079	e*	Javelin Pharmaceuticals, Inc		30,215
990	e*	Jazz Pharmaceuticals, Inc		14,553

265

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,289	*	KV Pharmaceutical Co (Class A)	$	179,488
2,678		Kaiser Aluminum Corp		212,847
7,187	e*	Keryx Biopharmaceuticals, Inc		60,371
3,118		Koppers Holdings, Inc		134,822
417	e	Kronos Worldwide, Inc		7,277
3,817	*	Landec Corp		51,148
14,425	e	Ligand Pharmaceuticals, Inc (Class B)		69,673
770	*	MAP Pharmaceuticals Inc		13,483
14,054	*	MGI Pharma, Inc		569,609
9,324	e*	MannKind Corp		74,219
2,535	e	Mannatech, Inc		16,021
5,716	*	Martek Biosciences Corp		169,079
22,396	e*	Medarex, Inc		233,366
9,192	*	Medicines Co		176,119
9,933	e	Medicis Pharmaceutical Corp (Class A)		257,960
3,586	e*	Medivation, Inc		51,638
7,061		Meridian Bioscience, Inc		212,395
3,395		Minerals Technologies, Inc		227,295
8,684	e*	Minrad International, Inc		28,223
830	e*	Molecular Insight Pharmaceuticals, Inc		7,520
4,508	*	Momenta Pharmaceuticals, Inc		32,187
1,246	e	NL Industries, Inc		14,242
10,196	*	Nabi Biopharmaceuticals		36,808
1,300	*	Nanosphere Inc		18,187
6,133	*	Nastech Pharmaceutical Co, Inc		23,305
6,383	*	Neurocrine Biosciences, Inc		28,979
2,643		NewMarket Corp		147,189
1,263	*	Novacea, Inc		3,764
4,412	e*	Noven Pharmaceuticals, Inc		61,239
5,296	*	OM Group, Inc		304,732
10,256	e*	OSI Pharmaceuticals, Inc		497,519
790	*	Obagi Medical Products, Inc		14,449
13,108		Olin Corp		253,378
2,476	*	Omrix Biopharmaceuticals, Inc		86,016
9,729	*	Onyx Pharmaceuticals, Inc		541,127
8,126	*	OraSure Technologies, Inc		72,240
1,041	e*	Orexigen Therapeutics, Inc		14,834
2,594	e*	Osiris Therapeutics, Inc		31,180
5,939	e*	Pacific Ethanol, Inc		48,759
5,895	*	Pain Therapeutics, Inc		62,487
6,080	*	Par Pharmaceutical Cos, Inc		145,920
4,947	*	Parexel International Corp		238,940
4,016	*	Penwest Pharmaceuticals Co		23,494
13,662		Perrigo Co		478,307
3,751	*	PetMed Express, Inc		45,387
4,897	*	PharMerica Corp		67,970
4,625	*	Pharmion Corp		290,728
16,386	*	PolyOne Corp		107,820
5,000	*	Poniard Pharmaceuticals, Inc		22,050
4,511	*	Pozen, Inc		54,132
6,061	*	Prestige Brands Holdings, Inc		45,336
4,574	e*	Progenics Pharmaceuticals, Inc		82,652
2,153	*	Protalix BioTherapeutics, Inc		7,320
5,113	*	Quidel Corp		99,550
31,604	*	Revlon, Inc (Class A)		37,293
6,235	*	Rockwood Holdings, Inc		207,127
8,372	e*	Salix Pharmaceuticals Ltd		65,971

266

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,181	*	Santarus, Inc	$	25,248
6,270	*	Sciele Pharma, Inc		128,222
8,362		Sensient Technologies Corp		236,477
2,360	*	Somaxon Pharmaceuticals, Inc		12,296
1,007		Stepan Co		32,758
700	*	Sucampo Pharmaceuticals Inc		12,838
9,451	*	SuperGen, Inc		34,496
2,693	e*	SurModics, Inc		146,149
714	e*	Synta Pharmaceuticals Corp		4,784
6,632		Tronox, Inc (Class B)		57,367
6,865	e*	Tercica, Inc		46,545
1,930	e*	Trubion Pharmaceuticals, Inc		19,300
9,149		UAP Holding Corp		353,151
2,340	e*	Ulta Salon Cosmetics & Fragrance, Inc		40,131
2,400	*	US BioEnergy Corp		28,104
1,522	e*	USANA Health Sciences, Inc		56,436
19,110	e*	USEC, Inc		171,990
3,697	*	United Therapeutics Corp		361,012
16,897	*	Valeant Pharmaceuticals International		202,257
4,325	e*	Vanda Pharmaceuticals, Inc		29,756
7,080	e*	Verasun Energy Corp		108,182
11,965	e*	Viropharma, Inc		95,002
3,387	*	Visicu, Inc		40,204
12,466	*	WR Grace & Co		326,360
24,062	*	XOMA Ltd		81,570
3,807	*	Xenoport, Inc		212,735
6,906	e*	Zymogenetics, Inc		80,593
		TOTAL CHEMICALS AND ALLIED PRODUCTS		18,691,983
COAL MINING - 0.22%
11,654	*	Alpha Natural Resources, Inc		378,522
22,598	e*	International Coal Group, Inc		121,125
		TOTAL COAL MINING		499,647
COMMUNICATIONS - 2.44%
7,589		Alaska Communications Systems Group, Inc		113,835
5,490	e*	Anixter International, Inc		341,862
1,617	e*	Aruba Networks, Inc		24,109
1,654		Atlantic Tele-Network, Inc		55,872
3,540	*	Audiovox Corp (Class A)		43,896
9,291	*	Brightpoint, Inc		142,710
3,687	*	Cbeyond Communications, Inc		143,756
4,241		Centennial Communications Corp		39,399
72,688	e*	Charter Communications, Inc (Class A)		85,045
44,050	*	Cincinnati Bell, Inc		209,238
30,300	e	Citadel Broadcasting Corp		62,418
3,452		Consolidated Communications Holdings, Inc		68,695
5,527	*	Cox Radio, Inc (Class A)		67,153
3,482	e*	Crown Media Holdings, Inc (Class A)		22,633
5,014	*	Cumulus Media, Inc (Class A)		40,313
2,799	*	DG FastChannel,Inc		71,766
6,203		Emmis Communications Corp (Class A)		23,882
5,821		Entercom Communications Corp (Class A)		79,689
11,498	*	Entravision Communications Corp (Class A)		90,029
6,171	e	Fairpoint Communications, Inc		80,346
20,767	*	FiberTower Corp		47,349
1,113	*	Fisher Communications, Inc		42,249

267

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
25,911	*	Foundry Networks, Inc	$	453,961
9,532	*	General Communication, Inc (Class A)		83,405
3,248	*	GeoEye, Inc		109,295
6,340	e*	Global Crossing Ltd		139,797
3,460	e*	Globalstar, Inc		27,680
2,795	*	Golden Telecom, Inc		282,155
7,157		Gray Television, Inc		57,399
4,154	*	Harris Stratex Networks, Inc (Class A)		69,372
1,138	*	Hughes Communications, Inc		62,146
514	e*	Hungarian Telephone & Cable		9,093
18,015	*	ICO Global Communications Holdings Ltd		57,288
8,078	e	IDT Corp (Class B)		68,259
5,796		Ibasis, Inc		29,733
5,637	e	Iowa Telecommunications Services, Inc		91,658
4,407	*	Knology, Inc		56,321
4,800	*	Lin TV Corp (Class A)		58,416
4,042	e*	Lodgenet Entertainment Corp		70,492
7,550	*	Mastec, Inc		76,784
8,933	e*	Mediacom Communications Corp (Class A)		41,002
4,932		NTELOS Holdings Corp		146,431
1,190	*	Neutral Tandem Inc		22,634
2,364	*	Nexstar Broadcasting Group, Inc (Class A)		21,607
5,361	e*	Nextwave Wireless, Inc		28,842
2,667	e*	North Pittsburgh Systems, Inc		60,514
5,787	*	Novatel Wireless, Inc		93,749
4,755	*	Orbcomm, Inc		29,909
13,160	*	PAETEC Holding Corp		128,310
473		Preformed Line Products Co		28,144
5,209		RCN Corp		81,208
14,226	*	Radio One, Inc (Class D)		33,716
2,161	*	Rural Cellular Corp (Class A)		95,278
4,885	*	SAVVIS, Inc		136,340
2,281		Salem Communications Corp (Class A)		15,032
4,147		Shenandoah Telecom Co		99,445
8,744	e	Sinclair Broadcast Group, Inc (Class A)		71,788
8,253	e*	Spanish Broadcasting System, Inc (Class A)		15,268
2,583		SureWest Communications		44,169
2,280	*	Switch & Data Facilities Co, Inc		36,526
4,852	*	Syniverse Holdings, Inc		75,594
8,437	e*	Terremark Worldwide, Inc		54,841
17,337	e*	TiVo, Inc		144,591
3,958		USA Mobility, Inc		56,599
4,890	*	Virgin Mobile USA, Inc		43,472
13,802	e*	Vonage Holdings Corp		31,745
2,973		iPCS, Inc		106,998
8,774	*	j2 Global Communications, Inc		185,746
		TOTAL COMMUNICATIONS		5,628,996
DEPOSITORY INSTITUTIONS - 6.92%
2,256		1st Source Corp		39,051
2,281		Abington Bancorp, Inc		21,441
3,020		Alabama National Bancorp		234,986
3,928		Amcore Financial, Inc		89,166
2,954		AmericanWest Bancorp		52,079
2,417	e	Ameris Bancorp		40,726
3,255		Anchor Bancorp Wisconsin, Inc		76,558
6,040	*	Beneficial Mutual Bancorp, Inc		58,709

268

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,419	e	Bancfirst Corp	$	60,804
4,885		Banco Latinoamericano de Exportaciones S.A.		79,674
2,010	*	Bancorp, Inc		27,055
9,826		Bank Mutual Corp		103,861
2,067		Bank of the Ozarks, Inc		54,155
7,731	e	BankAtlantic Bancorp, Inc (Class A)		31,697
4,040		BankFinancial Corp		63,913
5,035	e	BankUnited Financial Corp (Class A)		34,742
2,567	e	Banner Corp		73,750
1,920		Berkshire Hills Bancorp, Inc		49,920
6,586		Boston Private Financial Holdings, Inc		178,349
10,993		Brookline Bancorp, Inc		111,689
11,794		CVB Financial Corp		121,950
2,188	e	Capital City Bank Group, Inc		61,745
1,902		Capital Corp of the West		36,956
2,527		Capitol Bancorp Ltd		50,843
3,628	e	Cascade Bancorp		50,502
1,232	e	Cass Information Systems, Inc		41,161
9,098	e	Cathay General Bancorp		241,006
10,214	e*	Centennial Bank Holdings, Inc		59,037
1,574		Center Financial Corp		19,392
5,472		Central Pacific Financial Corp		101,013
4,409	e	Chemical Financial Corp		104,890
8,195		Chittenden Corp		291,906
13,300	e	Citizens Banking Corp		192,983
2,504	e	City Bank		56,140
3,045		City Holding Co		103,043
2,707	e	Clifton Savings Bancorp, Inc		26,529
3,191	e	CoBiz, Inc		47,450
3,212		Columbia Banking System, Inc		95,493
1,888	e*	Community Bancorp		32,795
5,344		Community Bank System, Inc		106,185
2,476		Community Trust Bancorp, Inc		68,164
6,660	e	Corus Bankshares, Inc		71,062
4,406		Dime Community Bancshares		56,265
2,712	*	Dollar Financial Corp		83,231
3,794	e	Downey Financial Corp		118,031
1,825	e	Enterprise Financial Services Corp		43,453
8,146	*	Euronet Worldwide, Inc		244,380
10,738	e	FNB Corp		157,849
2,286	e	First Bancorp		43,183
16,454		First Bancorp		119,950
4,719	e	First Busey Corp		93,719
6,247	e	First Charter Corp		186,535
13,165	e	First Commonwealth Financial Corp		140,207
4,594	e	First Community Bancorp, Inc		189,457
1,782		First Community Bancshares, Inc		56,828
5,724		First Financial Bancorp		65,254
3,727	e	First Financial Bankshares, Inc		140,322
2,305	e	First Financial Corp		65,324
2,037		First Financial Holdings, Inc		55,855
2,242		First Indiana Corp		71,744
3,079		First Merchants Corp		67,245
8,843		First Midwest Bancorp, Inc		270,596
17,918		First Niagara Financial Group, Inc		215,733
3,145		First Place Financial Corp		43,999
1,515	e*	First Regional Bancorp		28,618

269

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,625	e	First South Bancorp, Inc	$	36,059
3,632		First State Bancorporation		50,485
2,426	e*	FirstFed Financial Corp		86,899
14,314		FirstMerit Corp		286,423
7,093	e	Flagstar Bancorp, Inc		49,438
3,629		Flushing Financial Corp		58,245
5,721	e*	Franklin Bank Corp		24,658
13,154	*	Fremont General Corp		46,039
6,960	e	Frontier Financial Corp		129,247
9,368	e	Glacier Bancorp, Inc		175,556
1,848	e	Great Southern Bancorp, Inc		40,582
2,072		Greene County Bancshares, Inc		39,782
4,754		Hancock Holding Co		181,603
7,259	e	Hanmi Financial Corp		62,573
5,457	e	Harleysville National Corp		79,508
2,256		Heartland Financial USA, Inc		41,894
2,258		Heritage Commerce Corp		41,525
2,094	e	Home Bancshares, Inc		43,911
2,291		Horizon Financial Corp		39,955
2,060		IBERIABANK Corp		96,305
872		Imperial Capital Bancorp, Inc		15,958
2,517		Independent Bank Corp		68,513
4,170	e	Independent Bank Corp		39,615
3,535		Integra Bank Corp		49,879
9,105		International Bancshares Corp		190,659
8,990	*	Investors Bancorp, Inc		127,119
3,777		Irwin Financial Corp		27,761
1,460	e	K-Fed Bancorp		14,731
4,696		KNBT Bancorp, Inc		72,412
3,801	e	Kearny Financial Corp		45,270
3,685	e	Lakeland Bancorp, Inc		42,709
2,165		Lakeland Financial Corp		45,249
6,489	e	MB Financial, Inc		200,056
2,788	e	Macatawa Bank Corp		23,949
3,318		MainSource Financial Group, Inc		51,628
3,457		Midwest Banc Holdings, Inc		42,936
636	e	NASB Financial, Inc		16,778
5,776		NBT Bancorp, Inc		131,808
3,668		Nara Bancorp, Inc		42,806
8,721		National Penn Bancshares, Inc		132,036
7,433	*	Net 1 UEPS Technologies, Inc		218,233
19,978	e	NewAlliance Bancshares, Inc		230,147
3,600	*	Northfield Bancorp Inc		38,952
3,294	e	Northwest Bancorp, Inc		87,522
11,813	e	Old National Bancorp		176,722
2,255	e	Old Second Bancorp, Inc		60,411
2,281	e	Omega Financial Corp		66,742
3,796		Oriental Financial Group, Inc		50,904
1,590	*	Oritani Financial Corp		19,557
4,234	e	PFF Bancorp, Inc		50,977
8,358	e	Pacific Capital Bancorp		168,247
2,146	e	Park National Corp		138,417
1,971		Peoples Bancorp, Inc		49,058
2,660	e*	Pinnacle Financial Partners, Inc		67,617
1,597		Preferred Bank		41,554
3,350	e	PrivateBancorp, Inc		109,378
6,311		Prosperity Bancshares, Inc		185,480

270

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,733	e	Provident Bankshares Corp	$	122,629
10,965	e	Provident Financial Services, Inc		158,115
7,541	e	Provident New York Bancorp		97,430
1,554	e	QC Holdings, Inc		17,483
3,854		Renasant Corp		83,131
1,736		Republic Bancorp, Inc (Class A)		28,696
1,149		Rockville Financial, Inc		14,018
1,425		Roma Financial Corp		22,358
1,143		Royal Bancshares of Pennsylvania (Class A)		12,573
4,436	e	S&T Bancorp, Inc		122,611
2,147	e	S.Y. Bancorp, Inc		51,399
1,631		SCBT Financial Corp		51,654
6,094	*	SVB Financial Group		307,138
2,719	e	Sandy Spring Bancorp, Inc		75,643
541		Santander BanCorp		4,685
2,324	e	Seacoast Banking Corp of Florida		23,891
3,154	e	Security Bank Corp		28,828
1,533	e	Sierra Bancorp		38,156
5,276	*	Signature Bank		178,065
2,402		Simmons First National Corp (Class A)		63,653
13,187	e	South Financial Group, Inc		206,113
2,220	e	Southside Bancshares, Inc		45,421
2,535		Southwest Bancorp, Inc		46,467
2,921		Sterling Bancorp		39,842
13,234		Sterling Bancshares, Inc		147,691
4,648	*	Sterling Financial Corp		76,320
9,103		Sterling Financial Corp		152,839
1,766		Suffolk Bancorp		54,234
2,537	*	Sun Bancorp, Inc		40,034
6,911	e*	Superior Bancorp		37,112
15,139	e	Susquehanna Bancshares, Inc		279,163
1,089		Taylor Capital Group, Inc		22,216
4,158	*	Texas Capital Bancshares, Inc		75,884
3,030	e	TierOne Corp		67,115
1,161		Tompkins Trustco, Inc		45,047
2,529		Trico Bancshares		48,810
13,355	e	Trustco Bank Corp NY		132,482
8,705		Trustmark Corp		220,759
2,047		USB Holding Co, Inc		40,531
17,764	e	UCBH Holdings, Inc		251,538
5,504		UMB Financial Corp		211,133
10,896	e	Umpqua Holdings Corp		167,145
2,441	e	Union Bankshares Corp		51,603
6,809		United Bankshares, Inc		190,788
7,428	e	United Community Banks, Inc		117,362
5,459		United Community Financial Corp		30,134
1,674	e	United Security Bancshares		25,579
2,288	e	Univest Corp of Pennsylvania		48,300
1,720		ViewPoint Financial Group		28,432
3,206	e*	Virginia Commerce Bancorp		37,606
20,131	e	W Holding Co, Inc		24,359
1,041		WSFS Financial Corp		52,258
2,082		Washington Trust Bancorp, Inc		52,529
1,389	e*	Wauwatosa Holdings, Inc		17,807
4,480		WesBanco, Inc		92,288
2,586		West Coast Bancorp		47,841
5,337	e	Westamerica Bancorporation		237,763

271

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,726	e*	Western Alliance Bancorp	$	51,167
1,676		Westfield Financial, Inc		16,257
2,516		Wilshire Bancorp, Inc		19,751
4,287	e	Wintrust Financial Corp		142,028
		TOTAL DEPOSITORY INSTITUTIONS		15,966,729
EATING AND DRINKING PLACES - 1.40%
4,804	*	AFC Enterprises		54,381
2,781	e*	BJ's Restaurants, Inc		45,219
2,306	*	Benihana, Inc (Class A)		29,402
6,359		Bob Evans Farms, Inc		171,248
2,698	e*	Buffalo Wild Wings, Inc		62,648
4,368		CBRL Group, Inc		141,480
4,927	*	CEC Entertainment, Inc		127,905
10,171	e	CKE Restaurants, Inc		134,257
5,169	*	California Pizza Kitchen, Inc		80,481
1,990	*	Carrols Restaurant Group, Inc		19,064
5,766	d,e *	Chipotle Mexican Grill, Inc (Class B)		709,506
17,463	*	Denny's Corp		65,486
7,811		Domino's Pizza, Inc		103,340
3,094	e	IHOP Corp		113,179
11,130	*	Jack in the Box, Inc		286,820
12,380	e*	Krispy Kreme Doughnuts, Inc		39,121
2,805	e	Landry's Restaurants, Inc		55,259
2,531	*	McCormick & Schmick's Seafood Restaurants, Inc		30,195
1,988	*	Morton's Restaurant Group, Inc		18,548
4,080		O'Charleys, Inc		61,118
4,565	*	PF Chang's China Bistro, Inc		104,265
3,815	*	Papa John's International, Inc		86,601
2,892	*	Red Robin Gourmet Burgers, Inc		92,515
9,233		Ruby Tuesday, Inc		90,022
3,394	e*	Ruth's Chris Steak House, Inc		30,342
10,946	*	Sonic Corp		239,717
9,217	e*	Texas Roadhouse, Inc (Class A)		101,940
5,126	e*	Steak N Shake Co		55,873
10,471	e	Triarc Cos (Class B)		91,726
		TOTAL EATING AND DRINKING PLACES		3,241,658
EDUCATIONAL SERVICES - 0.59%
950	*	American Public Education, Inc		39,691
15,412	*	Corinthian Colleges, Inc		237,345
10,559		DeVry, Inc		548,646
1,457	*	Lincoln Educational Services Corp		21,447
2,584		Strayer Education, Inc		440,779
4,123	e*	Universal Technical Institute, Inc		70,091
		TOTAL EDUCATIONAL SERVICES		1,357,999
ELECTRIC, GAS, AND SANITARY SERVICES - 3.69%
4,571		Allete, Inc		180,920
2,930		American Ecology Corp		68,796
3,159		American States Water Co		119,031
66,645	*	Aquila, Inc		248,586
9,382		Avista Corp		202,088
6,698		Black Hills Corp		295,382
2,720	e	CH Energy Group, Inc		121,149
3,478		California Water Service Group		128,756
3,827	*	Casella Waste Systems, Inc (Class A)		49,904

272

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,754		Central Vermont Public Service Corp	$	54,093
1,666	*	Clean Energy Fuels Corp		25,223
2,977	*	Clean Harbors, Inc		153,911
10,608		Cleco Corp		294,902
2,641		Consolidated Water Co, Inc		66,527
6,536		Crosstex Energy, Inc		243,401
8,127	*	El Paso Electric Co		207,807
5,639		Empire District Electric Co		128,456
724	e*	EnerNOC, Inc		35,548
5,360	*	EnergySolutions Inc		144,666
1,353	e	EnergySouth, Inc		78,474
7,552		ITC Holdings Corp		426,084
7,820	e	Idacorp, Inc		275,420
3,840		Laclede Group, Inc		131,482
3,760	e	MGE Energy, Inc		133,367
1,120		Markwest Hydrocarbon, Inc		70,168
4,547		Metal Management, Inc		207,025
4,977		New Jersey Resources Corp		248,950
8,008	e	Nicor, Inc		339,139
6,517		NorthWestern Corp		192,252
4,793		Northwest Natural Gas Co		233,227
2,549		Ormat Technologies, Inc		140,220
5,288		Otter Tail Corp		182,965
13,639		PNM Resources, Inc		292,557
2,706	*	Pico Holdings, Inc		90,976
13,267		Piedmont Natural Gas Co, Inc		347,065
3,111	*	Pike Electric Corp		52,140
5,417		Portland General Electric Co		150,484
2,341	e	Resource America, Inc (Class A)		34,342
2,744	e	SJW Corp		95,134
5,238		South Jersey Industries, Inc		189,039
7,493		Southwest Gas Corp		223,067
4,186	e	Southwest Water Co		52,409
68	b,m,v*	Touch America Holdings, Inc		0
4,471		UIL Holdings Corp		165,203
6,246		Unisource Energy Corp		197,061
8,748		WGL Holdings, Inc		286,584
12,216	*	Waste Connections, Inc		377,474
942		Waste Industries USA, Inc		34,195
3,546	*	Waste Services, Inc		30,389
17,776		Westar Energy, Inc		461,109
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		8,507,147
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 7.16%
11,883	*	AMIS Holdings, Inc		119,068
6,135	*	ATMI, Inc		197,854
2,188	*	AZZ, Inc		62,030
3,883	*	Acme Packet, Inc		48,887
4,575	*	Actel Corp		62,495
7,722		Acuity Brands, Inc		347,490
20,892	*	Adaptec, Inc		70,615
10,472		Adtran, Inc		223,891
6,628	*	Advanced Analogic Technologies, Inc		74,764
6,364	*	Advanced Energy Industries, Inc		83,241
1,490	e*	Airvana, Inc		8,091
7,221	e*	American Superconductor Corp		197,422
18,605	e*	Amkor Technology, Inc		158,701

273

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
10,473	e*	Anadigics, Inc	$	121,173
11,288	*	Applied Micro Circuits Corp		98,657
23,857	*	Arris Group, Inc		238,094
9,831	*	Atheros Communications, Inc		300,239
32,085	*	Avanex Corp		32,085
8,134		Baldor Electric Co		273,790
2,007		Bel Fuse, Inc (Class B)		58,745
12,918	*	Benchmark Electronics, Inc		229,036
1,760	e*	BigBand Networks, Inc		9,046
1,346	*	CPI International, Inc		23,017
6,398	e	CTS Corp		63,532
4,833	*	Ceradyne, Inc		226,813
7,012	*	Checkpoint Systems, Inc		182,172
16	m,v*	China Energy Savings Technology, Inc		1
4,116	*	Comtech Telecommunications Corp		222,305
85,367	e*	Conexant Systems, Inc		70,855
2,834		Cubic Corp		111,093
5,763	*	DSP Group, Inc		70,309
3,307	e*	DTS, Inc		84,560
5,292	*	Diodes, Inc		159,130
5,321	e*	Ditech Networks, Inc		18,464
2,649	*	EMS Technologies, Inc		80,106
5,191	*	Electro Scientific Industries, Inc		103,041
3,944	*	EnerSys		98,442
7,044	e*	Energy Conversion Devices, Inc		237,031
15,275	e*	Evergreen Solar, Inc		263,799
7,603	*	Exar Corp		60,596
48,818	e*	Finisar Corp		70,786
3,459	e	Franklin Electric Co, Inc		132,376
11,779	e*	FuelCell Energy, Inc		116,848
44,533	*	Gemstar-TV Guide International, Inc		211,977
4,993	*	Genlyte Group, Inc		475,334
18,549	*	GrafTech International Ltd		329,245
3,868	*	Greatbatch, Inc		77,321
14,116	*	Harmonic, Inc		147,936
5,235	*	Helen of Troy Ltd		89,728
16,776	e*	Hexcel Corp		407,321
2,907	*	Hittite Microwave Corp		138,838
4,554	*	Hutchinson Technology, Inc		119,861
3,050	*	Infinera Corp		45,262
1,900	*	IPG Photonics Corp		37,981
4,946	*	IXYS Corp		39,667
6,254	e	Imation Corp		131,334
8,337	e*	InterDigital, Inc		194,502
6,922	*	InterVoice, Inc		55,307
15,063	*	Kemet Corp		99,868
3,142		LSI Industries, Inc		57,184
20,527	e*	Lattice Semiconductor Corp		66,713
3,948	*	Littelfuse, Inc		130,126
1,981	*	Loral Space & Communications, Inc		67,849
7,685	*	MIPS Technologies, Inc		38,118
28,145	e*	MRV Communications, Inc		65,296
8,886	*	Mattson Technology, Inc		76,064
4,068	e*	Medis Technologies Ltd		62,769
345	m,v*	Medis Technologies Ltd		0
3,913	*	Mercury Computer Systems, Inc		63,038
6,496		Methode Electronics, Inc		106,794

274

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,874		Micrel, Inc	$	83,435
13,566	*	Microsemi Corp		300,351
9,109	*	Microtune, Inc		59,482
4,216	*	Monolithic Power Systems, Inc		90,518
6,739	*	Moog, Inc (Class A)		308,714
1,701	*	Multi-Fineline Electronix, Inc		29,495
829		National Presto Industries, Inc		43,655
2,927	e*	Netlogic Microsystems, Inc		94,249
43,176	e*	ON Semiconductor Corp		383,403
3,540	*	OpNext, Inc		31,329
2,662	*	OSI Systems, Inc		70,463
9,770	*	Omnivision Technologies, Inc		152,901
28,287	e*	On2 Technologies, Inc		28,853
14,603		Openwave Systems, Inc		37,968
3,930	*	Oplink Communications, Inc		60,326
2,428	*	Optium Corp		19,133
5,103	*	PLX Technology, Inc		47,458
38,006	e*	PMC - Sierra, Inc		248,559
3,592		Park Electrochemical Corp		101,438
4,628	*	Pericom Semiconductor Corp		86,544
7,427	*	Photronics, Inc		92,615
8,545		Plantronics, Inc		222,170
8,237	*	Plexus Corp		216,304
16,302	*	Polycom, Inc		452,870
2,480	*	Polypore International, Inc		43,400
1,404	*	Powell Industries, Inc		61,874
13,081	*	Power-One, Inc		52,193
23,167	*	Powerwave Technologies, Inc		93,363
47,031	*	RF Micro Devices, Inc		268,547
2,846	e	Raven Industries, Inc		109,258
5,685		Regal-Beloit Corp		255,541
3,134	*	Rogers Corp		135,922
1,160	*	Rubicon Technology Inc		27,550
5,155	*	Seachange International, Inc		37,271
11,186	*	Semtech Corp		173,607
1,500	*	ShoreTel, Inc		20,955
15,094	*	Silicon Image, Inc		68,225
16,092	*	Silicon Storage Technology, Inc		48,115
28,441	*	Skyworks Solutions, Inc		241,749
8,911	*	Smart Modular Technologies WWH, Inc		90,714
14,969	*	Spansion, Inc (Class A)		58,828
7,269	*	Spectrum Brands, Inc		38,744
4,068	*	Standard Microsystems Corp		158,937
2,340	e*	Starent Networks Corp		42,705
2,904	*	Stoneridge, Inc		23,348
2,167	*	Supertex, Inc		67,805
32,780	*	Sycamore Networks, Inc		125,875
8,773	e*	Symmetricom, Inc		41,321
4,559	e*	Synaptics, Inc		187,648
10,126	e*	Syntax-Brillian Corp		31,188
7,493	*	TTM Technologies, Inc		87,368
7,252		Technitrol, Inc		207,262
2,935	e*	Techwell, Inc		32,314
10,959	*	Tekelec		136,988
8,516	*	Tessera Technologies, Inc		354,266
9,638	*	Trident Microsystems, Inc		63,225
24,742	*	Triquint Semiconductor, Inc		164,039

275

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,343	*	Ultra Clean Holdings	$	40,785
4,914	e*	Universal Display Corp		101,572
2,676	*	Universal Electronics, Inc		89,485
18,780	e*	Utstarcom, Inc		51,645
4,304	*	Viasat, Inc		148,187
3,309	e	Vicor Corp		51,587
3,783	e*	Volterra Semiconductor Corp		41,726
4,426	*	Zoltek Cos, Inc		189,743
8,818	*	Zoran Corp		198,493
2,654	*	iRobot Corp		47,984
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		16,519,708
ENGINEERING AND MANAGEMENT SERVICES - 2.66%
7,618	*	Aecom Technology Corp		217,646
3,210	*	Advisory Board Co		206,050
540	*	Affymax, Inc		12,074
14,017	*	Applera Corp (Celera Genomics Group)		222,450
11,476	e*	Ariad Pharmaceuticals, Inc		48,773
1,241	*	Michael Baker Corp		51,005
2,294		CDI Corp		55,652
1,866	*	CRA International, Inc		88,840
10,531	*	CV Therapeutics, Inc		95,306
910	e*	China Architectural Engineering, Inc		7,872
1,705	*	Cornell Cos, Inc		39,761
5,291		Diamond Management & Technology Consultants, Inc		38,466
18,543	*	Exelixis, Inc		160,026
2,774	*	Exponent, Inc		75,009
3,799	*	Greenfield Online, Inc		55,503
8,204	*	Harris Interactive, Inc		34,949
3,312	*	Huron Consulting Group, Inc		267,047
14,807	*	Incyte Corp		148,810
15,460	e*	Isis Pharmaceuticals, Inc		243,495
2,256	*	Kendle International, Inc		110,364
8,242	e*	Kosan Biosciences, Inc		29,671
4,429	*	LECG Corp		66,701
1,640		Landauer, Inc		85,034
6,022	e*	Lifecell Corp		259,608
6,365	e*	Luminex Corp		103,368
3,887		MAXIMUS, Inc		150,077
1,841	*	MTC Technologies, Inc		43,264
3,492	*	Maxygen, Inc		28,041
7,649	*	Myriad Genetics, Inc		355,067
8,443	*	Navigant Consulting, Inc		115,416
6,208	*	Neurogen Corp		21,418
6,001	*	Omnicell, Inc		161,607
3,300	*	PharmaNet Development Group, Inc		129,393
5,161	*	Regeneration Technologies, Inc		44,797
11,318	*	Regeneron Pharmaceuticals, Inc		273,330
27,535	*	Rentech, Inc		49,838
8,718		Resources Connection, Inc		158,319
5,552	*	Rigel Pharmaceuticals, Inc		140,965
22,787	*	SAIC, Inc		458,474
9,446	*	Savient Pharmaceuticals, Inc		216,975
8,738	*	Seattle Genetics, Inc		99,613
5,228	e*	Senomyx, Inc		39,158
1,422	*	Stanley, Inc		45,532
6,105	*	Symyx Technologies, Inc		46,886

276

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,960	e*	Tejon Ranch Co	$	80,066
10,312	e*	Telik, Inc		35,783
10,328	*	Tetra Tech, Inc		222,052
8,370	e*	Verenium Corp		41,766
7,605		Watson Wyatt & Co Holdings (Class A)		352,948
990	*	comScore, Inc		32,304
7,131	*	eResearch Technology, Inc		84,288
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		6,150,857
ENVIRONMENTAL QUALITY AND HOUSING - 0.01%
11,688	e*	Home Solutions of America, Inc		11,688
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		11,688
FABRICATED METAL PRODUCTS - 1.29%
1,616		Ameron International Corp		148,914
12,312		Aptargroup, Inc		503,684
2,907		CIRCOR International, Inc		134,769
2,575	*	Chart Industries, Inc		79,568
3,652	*	Commercial Vehicle Group, Inc		52,954
254		Compx International, Inc		3,713
2,054		Dynamic Materials Corp		120,981
4,918	*	Griffon Corp		61,229
2,051		Gulf Island Fabrication, Inc		65,037
3,492	e	Insteel Industries, Inc		40,961
2,666	*	Ladish Co, Inc		115,145
2,104		Lifetime Brands, Inc		27,310
6,384	*	Mobile Mini, Inc		118,359
20,349		Mueller Water Products, Inc (Class A)		193,722
3,599	*	NCI Building Systems, Inc		103,615
2,158	*	PGT, Inc		10,272
1,592	*	Park-Ohio Holdings Corp		39,959
4,407		Silgan Holdings, Inc		228,900
6,559	e	Simpson Manufacturing Co, Inc		174,404
4,818	e*	Smith & Wesson Holding Corp		29,390
3,762	*	Sturm Ruger & Co, Inc		31,149
1,956	e	Sun Hydraulics Corp		49,350
11,052	e*	Taser International, Inc		159,038
2,533	*	Trimas Corp		26,824
3,306	e	Valmont Industries, Inc		294,631
5,587	e	Watts Water Technologies, Inc (Class A)		166,493
		TOTAL FABRICATED METAL PRODUCTS		2,980,371
FOOD AND KINDRED PRODUCTS - 0.99%
3,980	e*	Altus Pharmaceuticals, Inc		20,616
1,523	e*	American Dairy, Inc		19,723
1,734	*	Boston Beer Co, Inc (Class A)		65,285
1,078		Coca-Cola Bottling Co Consolidated		63,473
14,383	*	Darling International, Inc		166,267
1,402		Farmer Bros Co		32,232
13,652		Flowers Foods, Inc		319,593
2,091	e	Imperial Sugar Co		39,248
2,397		J&J Snack Foods Corp		74,978
4,911	*	Jones Soda Co		36,538
3,987		Lancaster Colony Corp		158,284
5,633		Lance, Inc		115,026
2,245	e*	M&F Worldwide Corp		120,893
2,113		MGP Ingredients, Inc		19,904

277

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,253		National Beverage Corp	$	18,114
2,330	*	Peet's Coffee & Tea, Inc		67,733
6,209	*	Performance Food Group Co		166,836
4,610	*	Ralcorp Holdings, Inc		280,242
3,873	e	Reddy Ice Holdings, Inc		98,026
2,999	e	Sanderson Farms, Inc		101,306
6,351	e	Tootsie Roll Industries, Inc		174,144
5,549	*	TreeHouse Foods, Inc		127,572
		TOTAL FOOD AND KINDRED PRODUCTS		2,286,033
FOOD STORES - 0.35%
223	e	Arden Group, Inc (Class A)		34,496
4,286		Great Atlantic & Pacific Tea Co, Inc		134,280
2,050		Ingles Markets, Inc (Class A)		52,050
4,058	*	Pantry, Inc		106,036
7,308		Ruddick Corp		253,368
668		Village Super Market (Class A)		33,995
2,216		Weis Markets, Inc		88,507
6,047	e*	Winn-Dixie Stores, Inc		102,013
		TOTAL FOOD STORES		804,745
FURNITURE AND FIXTURES - 0.61%
4,699	e	Ethan Allen Interiors, Inc		133,922
8,538	e	Furniture Brands International, Inc		85,892
11,288		Herman Miller, Inc		365,618
2,113		Hooker Furniture Corp		42,471
9,732		Interface, Inc (Class A)		158,826
4,433		Kimball International, Inc (Class B)		60,732
8,462	e	La-Z-Boy, Inc		67,104
7,948	e	Sealy Corp		88,938
8,498	*	Select Comfort Corp		59,571
13,362	e	Tempur-Pedic International, Inc		347,011
		TOTAL FURNITURE AND FIXTURES		1,410,085
FURNITURE AND HOMEFURNISHINGS STORES - 0.13%
3,769	e	Haverty Furniture Cos, Inc		33,883
8,829		Knoll, Inc		145,060
15,809	e*	Pier 1 Imports, Inc		82,681
5,235	e	Tuesday Morning Corp		26,541
1,550	e*	hhgregg, Inc		21,328
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		309,493
GENERAL BUILDING CONTRACTORS - 0.48%
276	e	Amrep Corp		8,432
987	e*	Avatar Holdings, Inc		41,276
6,900	e*	Beazer Homes USA, Inc		51,267
2,042	e	Brookfield Homes Corp		32,264
7,025	e*	Hovnanian Enterprises, Inc (Class A)		50,369
2,625	e	M/I Homes, Inc		27,563
4,476		McGrath RentCorp		115,257
4,560	e*	Meritage Homes Corp		66,439
1,880	e*	Palm Harbor Homes, Inc		19,834
4,741	*	Perini Corp		196,372
11,638	e*	Standard-Pacific Corp		38,987
2,800	*	Team, Inc		102,424
6,238	e*	WCI Communities, Inc		23,580

278

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,257		Walter Industries, Inc	$	332,604
		TOTAL GENERAL BUILDING CONTRACTORS		1,106,668
GENERAL MERCHANDISE STORES - 0.26%
8,010	e*	99 Cents Only Stores		63,760
1,859	e	Bon-Ton Stores, Inc		17,642
6,916	e*	Cabela's, Inc		104,224
8,953		Casey's General Stores, Inc		265,098
2,149	e*	Conn's, Inc		36,769
6,690	e	Fred's, Inc		64,425
4,885	e*	Retail Ventures, Inc		24,865
4,938	e	Stein Mart, Inc		23,406
		TOTAL GENERAL MERCHANDISE STORES		600,189
HEALTH SERVICES - 1.75%
4,738	*	Alliance Imaging, Inc		45,580
4,610	e*	Amedisys, Inc		223,677
2,200	*	American Dental Partners, Inc		22,066
5,426	*	Amsurg Corp		146,828
7,761	*	Apria Healthcare Group, Inc		167,405
10,775	*	Assisted Living Concepts, Inc (A Shares)		80,813
2,104	*	Bio-Reference Labs, Inc		68,759
1,399	*	Corvel Corp		32,205
5,704	*	Cross Country Healthcare, Inc		81,225
4,352	*	CryoLife, Inc		34,598
2,312	e*	Emeritus Corp		58,147
820		Ensign Group, Inc		11,808
5,518	*	Enzo Biochem, Inc		70,299
2,140	*	FGX International Holdings Ltd		25,359
2,317	*	Genomic Health, Inc		52,457
1,020	*	Genoptix Inc		31,314
4,887	*	Gentiva Health Services, Inc		93,048
14,000	e*	Healthsouth Corp		294,000
6,227	*	Healthways, Inc		363,906
5,640	e*	Hythiam, Inc		16,525
10,249	*	Immunomedics, Inc		23,778
5,189	*	Kindred Healthcare, Inc		129,621
3,458		LCA-Vision, Inc		69,056
2,591	*	LHC Group, Inc		64,723
6,953	*	Magellan Health Services, Inc		324,218
3,824	*	Matria Healthcare, Inc		90,896
1,716	*	Medcath Corp		42,145
1,344	e	National Healthcare Corp		69,485
16,302	*	Nektar Therapeutics		109,386
3,777	*	Nighthawk Radiology Holdings, Inc		79,506
5,968	*	Odyssey HealthCare, Inc		66,006
9,651	*	Psychiatric Solutions, Inc		313,658
2,303	*	Radiation Therapy Services, Inc		71,186
3,086	*	RehabCare Group, Inc		69,620
865	e*	Sirtris Pharmaceuticals, Inc		11,842
3,898	*	Skilled Healthcare Group, Inc (Class A)		57,028
4,645	e*	Stereotaxis, Inc		56,762
7,633	*	Sun Healthcare Group, Inc		131,059
7,953	e*	Sunrise Senior Living, Inc		243,998
790	e	Virtual Radiologic Corp		16,021
2,352	*	eHealth, Inc		75,523
		TOTAL HEALTH SERVICES		4,035,536

279

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.17%
1,151	e*	Comverge, Inc	$	36,245
6,403		Granite Construction, Inc		231,661
2,357		Great Lakes Dredge & Dock Corp		20,553
4,725	*	Matrix Service Co		103,100
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		391,559
HOLDING AND OTHER INVESTMENT OFFICES - 6.43%
5,707		Acadia Realty Trust		146,156
1,390		Agree Realty Corp		41,839
9,602	e	Alesco Financial, Inc		31,495
368	e*	Alexander's, Inc		129,996
5,668		Alexandria Real Estate Equities, Inc		576,266
4,809		American Campus Communities, Inc		129,122
23,170		American Financial Realty Trust		185,823
3,624	e*	Ampal American Israel (Class A)		26,781
11,399		Anthracite Capital, Inc		82,529
8,115		Anworth Mortgage Asset Corp		67,030
21,148		Apollo Investment Corp		360,573
2,169		Arbor Realty Trust, Inc		34,943
18,793		Ashford Hospitality Trust, Inc		135,122
2,246		Associated Estates Realty Corp		21,202
1,422	e	BRT Realty Trust		21,757
11,635		BioMed Realty Trust, Inc		269,583
6,095	e	CBRE Realty Finance, Inc		32,547
7,211		Capital Lease Funding, Inc		60,717
564		Capital Southwest Corp		66,778
2,241	e	Capital Trust, Inc (Class A)		68,687
7,349		Cedar Shopping Centers, Inc		75,180
1,385	e	Cherokee, Inc		44,694
6,936		Corporate Office Properties Trust		218,484
7,258		Cousins Properties, Inc		160,402
3,980	e	Crystal River Capital, Inc		57,471
29,955		DCT Industrial Trust, Inc		278,881
8,485	e	Deerfield Capital Corp		67,880
16,810		DiamondRock Hospitality Co		251,814
10,027		Digital Realty Trust, Inc		384,736
4,251		EastGroup Properties, Inc		177,904
4,974		Education Realty Trust, Inc		55,908
4,995		Entertainment Properties Trust		234,765
3,578		Equity Lifestyle Properties, Inc		163,407
6,466		Equity One, Inc		148,912
11,443		Extra Space Storage, Inc		163,520
11,097		FelCor Lodging Trust, Inc		173,002
8,070	e	First Industrial Realty Trust, Inc		279,222
4,306		First Potomac Realty Trust		74,451
10,583		Franklin Street Properties Corp		156,628
24,766	*	Friedman Billings Ramsey Group, Inc (Class A)		77,765
5,794		GMH Communities Trust		31,983
3,286		Getty Realty Corp		87,670
2,707		Gladstone Capital Corp		46,019
6,607	e	Glimcher Realty Trust		94,414
4,427	e	Gramercy Capital Corp		107,620
3,247	*	HFF, Inc (Class A)		25,132
9,008		Healthcare Realty Trust, Inc		228,713
7,252		Hersha Hospitality Trust		68,894
10,110		Highwoods Properties, Inc		297,032

280

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,926	*	Hilltop Holdings, Inc	$	86,552
5,907		Home Properties, Inc		264,929
17,263	e v	IMPAC Mortgage Holdings, Inc		9,495
10,334	e	Inland Real Estate Corp		146,329
8,014		Investors Real Estate Trust		71,886
4,456	e	JER Investors Trust, Inc		47,991
8,947	e*	Jamba, Inc		33,104
3,707		Kite Realty Group Trust		56,606
4,203		LTC Properties, Inc		105,285
7,126		LaSalle Hotel Properties		227,319
11,767		Lexington Corporate Properties Trust		171,092
6,291	e v	Luminent Mortgage Capital, Inc		4,907
21,675		MFA Mortgage Investments, Inc		200,494
4,315		MVC Capital, Inc		69,644
6,658	e	Maguire Properties, Inc		196,211
8,818		Medical Properties Trust, Inc		89,855
7,970	*	Meruelo Maddux Properties, Inc		31,880
4,524		Mid-America Apartment Communities, Inc		193,401
3,634		Mission West Properties, Inc		34,559
4,261	e	National Health Investors, Inc		118,882
12,714		National Retail Properties, Inc		297,253
15,872		Nationwide Health Properties, Inc		497,905
7,419	e	Newcastle Investment Corp		96,150
7,802	e*	NexCen Brands, Inc		37,762
10,898	e	NorthStar Realty Finance Corp		97,210
1,671	*	Novastar Financial, Inc		4,829
11,959		Omega Healthcare Investors, Inc		191,942
2,824		PS Business Parks, Inc		148,401
2,819		Parkway Properties, Inc		104,247
3,625		PennantPark Investment Corp		36,323
5,708		Pennsylvania Real Estate Investment Trust		169,413
7,761		Post Properties, Inc		272,566
6,941		Potlatch Corp		308,458
4,178	e	Prospect Capital Corp		54,523
2,210	e	Quadra Realty Trust, Inc		17,768
10,798	e	RAIT Investment Trust		93,079
3,301		Ramco-Gershenson Properties		70,542
17,964		Realty Income Corp		485,387
3,700		Redwood Trust, Inc		126,688
3,915		Resource Capital Corp		36,449
1,903		Saul Centers, Inc		101,677
14,878		Senior Housing Properties Trust		337,433
3,849		Sovran Self Storage, Inc		154,345
13,225		Strategic Hotels & Resorts, Inc		221,254
2,676		Sun Communities, Inc		56,383
11,105		Sunstone Hotel Investors, Inc		203,110
5,557	e	Tanger Factory Outlet Centers, Inc		209,554
3,172	e	Tarragon Corp		4,758
7,702		U-Store-It Trust		70,550
2,095		Universal Health Realty Income Trust		74,247
3,753		Urstadt Biddle Properties, Inc (Class A)		58,172
8,011	e	Washington Real Estate Investment Trust		251,626
8,921		Winthrop Realty Trust		47,192
13,600		iShares Russell 2000 Index Fund		1,032,512
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		14,851,578

281

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
HOTELS AND OTHER LODGING PLACES - 0.49%
4,539		Ameristar Casinos, Inc	$	125,004
3,732	e*	Bluegreen Corp		26,833
7,278	*	Gaylord Entertainment Co		294,541
5,090	*	Great Wolf Resorts, Inc		49,933
2,849	*	Isle of Capri Casinos, Inc		39,231
3,328	*	Lodgian, Inc		37,473
3,433		Marcus Corp		53,040
2,064	*	Monarch Casino & Resort, Inc		49,701
3,828	*	Morgans Hotel Group Co		73,804
1,802	*	Riviera Holdings Corp		55,502
6,369	*	Trump Entertainment Resorts, Inc		27,387
5,585	e*	Vail Resorts, Inc		300,529
		TOTAL HOTELS AND OTHER LODGING PLACES		1,132,978
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.43%
1,340	*	3PAR, Inc		17,152
1,930	*	Altra Holdings, Inc		32,096
3,688	*	ASV, Inc		51,079
1,280	*	AuthenTec, Inc		18,598
2,490		Aaon, Inc		49,352
9,746		Actuant Corp (Class A)		331,461
5,217		Albany International Corp (Class A)		193,551
4,496	*	Allis-Chalmers Energy, Inc		66,316
1,233		Ampco-Pittsburgh Corp		47,014
3,346	*	Astec Industries, Inc		124,438
9,170	*	Asyst Technologies, Inc		29,894
18,336	*	Axcelis Technologies, Inc		84,346
3,080		Black Box Corp		111,404
6,768	*	Blount International, Inc		83,314
8,791		Briggs & Stratton Corp		199,204
12,516	*	Brooks Automation, Inc		165,336
6,587		Bucyrus International, Inc (Class A)		654,682
2,136		Cascade Corp		99,239
15,682	*	Cirrus Logic, Inc		82,801
3,350	*	Columbus McKinnon Corp		109,277
6,015	*	Cray, Inc		36,030
7,874		Curtiss-Wright Corp		395,275
5,680	*	Cymer, Inc		221,122
4,737	*	Dril-Quip, Inc		263,661
3,038	*	ENGlobal Corp		34,512
10,082	*	Electronics for Imaging, Inc		226,643
15,175	*	Emulex Corp		247,656
3,837	*	EnPro Industries, Inc		117,604
20,597	*	Entegris, Inc		177,752
20,140	*	Extreme Networks, Inc		71,296
3,200	e*	Flotek Industries, Inc		115,328
6,511	*	Flow International Corp		60,683
3,142	e*	Fuel Tech, Inc		71,166
1,642	e*	Gehl Co		26,338
6,690	*	Goodman Global, Inc		164,173
2,700		Gorman-Rupp Co		84,240
1,875		Hardinge, Inc		31,463
999	*	Hurco Cos, Inc		43,606
5,212	*	Immersion Corp		67,495
10,772	*	Intermec, Inc		218,779
3,730	*	Intevac, Inc		54,234
2,280	e*	Isilon Systems, Inc		11,582

282

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,478	*	Kadant, Inc	$	73,522
5,029	e	Kaydon Corp		274,282
9,560	*	Kulicke & Soffa Industries, Inc		65,582
2,072	e	Lindsay Manufacturing Co		146,470
2,667		Lufkin Industries, Inc		152,792
7,208	*	Micros Systems, Inc		505,713
2,430	*	Middleby Corp		186,187
5,548		Modine Manufacturing Co		91,597
3,276	*	NATCO Group, Inc (Class A)		177,395
1,021		Nacco Industries, Inc (Class A)		101,783
1,680	e*	Netezza Corp		23,184
6,148	*	Netgear, Inc		219,299
5,989		Nordson Corp		347,122
8,590	*	Oil States International, Inc		293,091
18,438	e	Palm, Inc		116,897
35,112	*	Quantum Corp		94,451
3,775	*	RBC Bearings, Inc		164,062
5,208	*	Rackable Systems, Inc		52,080
1,792	*	Rimage Corp		46,502
2,499		Robbins & Myers, Inc		188,999
1,321	e*	Silicon Graphics, Inc		24,148
6,000	e*	STEC, Inc		52,440
20,402	*	Safeguard Scientifics, Inc		36,724
1,966		Sauer-Danfoss, Inc		49,248
4,526	*	Scansource, Inc		146,416
4,089	e*	Semitool, Inc		35,493
4,990	e*	Sigma Designs, Inc		275,448
11,928	e*	SourceForge, Inc		29,224
2,290		Standex International Corp		39,961
1,318	*	Super Micro Computer, Inc		10,109
1,223	*	T-3 Energy Services, Inc		57,493
2,578	*	Tecumseh Products Co (Class A)		60,351
2,991		Tennant Co		132,471
3,647	e*	TurboChef Technologies, Inc		60,176
809		Twin Disc, Inc		57,253
4,051	*	Ultratech, Inc		45,938
4,068	e	Watsco, Inc		149,540
5,331		Woodward Governor Co		362,241
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		10,236,876
INSTRUMENTS AND RELATED PRODUCTS - 6.43%
3,713	*	Abaxis, Inc		133,148
5,133	e*	Abiomed, Inc		79,767
3,060	*	Accuray, Inc		46,573
12,198	*	Affymetrix, Inc		282,262
10,524	*	Align Technology, Inc		175,540
12,818	e*	American Medical Systems Holdings, Inc		185,348
1,653		American Science & Engineering, Inc		93,808
2,320		Analogic Corp		157,110
2,935	*	Anaren, Inc		48,398
3,836	*	Angiodynamics, Inc		73,037
2,408	*	Argon ST, Inc		44,692
4,887	e*	Arthrocare Corp		234,820
3,161	e*	Aspect Medical Systems, Inc		44,254
2,579		Badger Meter, Inc		115,926
3,317	*	Bio-Rad Laboratories, Inc (Class A)		343,708
11,556	*	Bruker BioSciences Corp		153,695

283

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,115	*	Cantel Medical Corp	$	30,837
9,793	*	Cepheid, Inc		258,046
4,036		Cohu, Inc		61,751
5,114	*	Conmed Corp		118,185
17,875	*	Credence Systems Corp		43,258
2,365	*	Cutera, Inc		37,131
3,692	*	Cyberonics, Inc		48,587
1,424	*	Cynosure, Inc (Class A)		37,679
2,350		Datascope Corp		85,540
3,375	*	Dionex Corp		279,653
4,613	*	ESCO Technologies, Inc		184,243
2,360	*	Eagle Test Systems, Inc		30,161
5,203	*	Esterline Technologies Corp		269,255
2,153	*	Excel Technology, Inc		58,346
3,016	*	FARO Technologies, Inc		81,975
6,957	*	FEI Co		172,742
23,390	*	Flir Systems, Inc		732,107
8,490	*	Formfactor, Inc		281,019
7,641	*	Fossil, Inc		320,769
4,722	*	Haemonetics Corp		297,580
21,584	*	Hologic, Inc		1,481,526
3,512	*	I-Flow Corp		55,419
2,312	e*	ICU Medical, Inc		83,255
890	e*	ICx Technologies Inc		8,562
12,643	*	ION Geophysical Corp		199,507
4,212	*	II-VI, Inc		128,677
9,530	*	Illumina, Inc		564,748
1,410	*	Insulet Corp		33,107
3,209	e*	Integra LifeSciences Holdings Corp		134,553
5,116	e	Invacare Corp		128,923
5,234	e*	Ionatron, Inc		14,969
5,335	*	Itron, Inc		512,000
8,027	*	Ixia		76,096
2,118	*	Kensey Nash Corp		63,371
10,525	e*	L-1 Identity Solutions, Inc		188,924
11,421	e*	LTX Corp		36,319
8,996	*	MKS Instruments, Inc		172,183
3,148		MTS Systems Corp		134,325
2,460	*	Masimo Corp		97,047
2,476	*	Measurement Specialties, Inc		54,720
2,583	*	Medical Action Industries, Inc		53,856
6,013	e	Mentor Corp		235,108
4,678	*	Merit Medical Systems, Inc		65,024
2,582	e*	Micrus Endovascular Corp		50,814
4,996		Mine Safety Appliances Co		259,143
3,061		Movado Group, Inc		77,413
6,302	*	Wright Medical Group, Inc		183,829
3,835	*	Natus Medical, Inc		74,207
6,278	*	Newport Corp		80,296
3,598	*	Northstar Neuroscience, Inc		33,461
6,136	*	NuVasive, Inc		242,495
3,604	*	NxStage Medical, Inc		54,673
691	*	OYO Geospace Corp		52,074
2,961	*	Orthofix International NV		171,649
3,287	*	Palomar Medical Technologies, Inc		50,357
5,524	*	Rofin-Sinar Technologies, Inc		265,760
4,923	*	Rudolph Technologies, Inc		55,728

284

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
10,675	*	Sirf Technology Holdings, Inc	$	268,263
2,971	e	Sirona Dental Systems, Inc		99,469
5,016	*	Sonic Innovations, Inc		38,724
3,940	e*	Sonic Solutions, Inc		40,937
2,945	*	SonoSite, Inc		99,158
5,908	*	Spectranetics Corp		90,570
11,585		STERIS Corp		334,111
6,273	*	Symmetry Medical, Inc		109,338
6,211	*	Teledyne Technologies, Inc		331,233
9,455	*	Thoratec Corp		171,986
1,160	*	Trans1, Inc		19,105
5,451	*	Varian, Inc		355,950
5,312	e*	Veeco Instruments, Inc		88,710
4,770	*	Ventana Medical Systems, Inc		416,087
3,011	e*	Vital Images, Inc		54,409
1,927		Vital Signs, Inc		98,508
10,362	e*	Vivus, Inc		53,675
5,123	*	Volcano Corp		64,089
5,028	*	X-Rite, Inc		58,425
3,796	*	Zoll Medical Corp		101,429
2,993	*	Zygo Corp		37,293
8,420	*	ev3, Inc		107,018
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		14,853,555
INSURANCE AGENTS, BROKERS AND SERVICE - 0.29%
4,474		Crawford & Co (Class B)		18,567
6,540		Hilb Rogal & Hobbs Co		265,328
6,697	e	National Financial Partners Corp		305,450
4,361	*	United America Indemnity Ltd (Class A)		86,871
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		676,216
INSURANCE CARRIERS - 3.72%
9,383	*	AMERIGROUP Corp		342,010
5,817		Alfa Corp		126,054
9,802		American Equity Investment Life Holding Co		81,259
1,631		American Physicians Capital, Inc		67,621
3,295	*	Amerisafe, Inc		51,105
4,590	e	Amtrust Financial Services, Inc		63,204
5,211	*	Argo Group International Holdings Ltd		219,539
15,675		Aspen Insurance Holdings Ltd		452,067
12,054		Assured Guaranty Ltd		319,913
1,592		Baldwin & Lyons, Inc (Class B)		43,716
2,937	*	CNA Surety Corp		58,123
1,131		Castlepoint Holdings Ltd		13,572
7,757	*	Centene Corp		212,852
6,147	e*	Citizens, Inc		33,993
8,687		Commerce Group, Inc		312,558
1,386	*	Darwin Professional Underwriters, Inc		33,500
7,719		Delphi Financial Group, Inc (Class A)		272,326
2,344		Donegal Group, Inc (Class A)		40,246
1,091		EMC Insurance Group, Inc		25,824
8,782		Employers Holdings, Inc		146,747
1,260	*	Enstar Group Ltd		154,249
2,554		FBL Financial Group, Inc (Class A)		88,190
1,639	*	Fpic Insurance Group, Inc		70,444
2,176	*	First Acceptance Corp		9,183
2,245	*	First Mercury Financial Corp		54,778

285

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,443		Flagstone Reinsurance Holdings Ltd	$	33,958
1,814	e*	Greenlight Capital Re Ltd (Class A)		37,713
1,125	*	Hallmark Financial Services		17,843
2,798		Harleysville Group, Inc		98,993
5,494	*	HealthExtras, Inc		143,284
8,503	*	Healthspring, Inc		161,982
7,676		Horace Mann Educators Corp		145,383
10,752		IPC Holdings Ltd		310,410
918	e	Independence Holding Co		11,613
3,238		Infinity Property & Casualty Corp		116,989
845		Kansas City Life Insurance Co		36,834
2,792	e	LandAmerica Financial Group, Inc		93,392
10,727		Max Re Capital Ltd		300,249
5,485	*	Meadowbrook Insurance Group, Inc		51,614
1,748		Midland Co		113,078
2,430	*	Molina Healthcare, Inc		94,041
18,290		Montpelier Re Holdings Ltd		311,113
1,035	e	NYMAGIC, Inc		23,940
971		National Interstate Corp		32,140
412		National Western Life Insurance Co (Class A)		85,436
2,318	*	Navigators Group, Inc		150,670
5,033		Odyssey Re Holdings Corp		184,761
5,545	*	PMA Capital Corp (Class A)		45,580
20,294		Phoenix Cos, Inc		240,890
10,643		Platinum Underwriters Holdings Ltd		378,465
3,646		Presidential Life Corp		63,841
7,468	e*	Primus Guaranty Ltd		52,351
5,930	*	ProAssurance Corp		325,676
3,687	e*	RAM Holdings Ltd		18,214
3,737		RLI Corp		212,224
2,881		Safety Insurance Group, Inc		105,502
13,012	v*	Scottish Re Group Ltd		9,369
3,534	*	SeaBright Insurance Holdings, Inc		53,293
3,721	e	Security Capital Assurance Ltd		14,475
9,752		Selective Insurance Group, Inc		224,198
2,538		State Auto Financial Corp		66,749
3,047		Stewart Information Services Corp		79,496
3,552		Tower Group, Inc		118,637
2,487	e*	Triad Guaranty, Inc		24,373
3,897		United Fire & Casualty Co		113,364
8,677	e*	Universal American Financial Corp		222,044
2,910	*	Validus Holdings Ltd		75,602
6,589		Zenith National Insurance Corp		294,726
		TOTAL INSURANCE CARRIERS		8,587,578
JUSTICE, PUBLIC ORDER AND SAFETY - 0.11%
8,969	*	Geo Group, Inc		251,132
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		251,132
LEATHER AND LEATHER PRODUCTS - 0.36%
4,050	e*	Genesco, Inc		153,090
9,012	*	Iconix Brand Group, Inc		177,176
3,676		Steven Madden Ltd		73,520
8,398	*	Timberland Co (Class A)		151,836
1,479	e	Weyco Group, Inc		40,673
9,686		Wolverine World Wide, Inc		237,501
		TOTAL LEATHER AND LEATHER PRODUCTS		833,796

286

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
LEGAL SERVICES - 0.26%
8,430	*	FTI Consulting, Inc	$	519,625
1,615	*	Pre-Paid Legal Services, Inc		89,390
		TOTAL LEGAL SERVICES		609,015
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.02%
1,585	e*	Emergency Medical Services Corp (Class A)		46,409
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		46,409
LUMBER AND WOOD PRODUCTS - 0.16%
1,688		American Woodmark Corp		30,688
13,933	*	Champion Enterprises, Inc		131,249
1,864		Deltic Timber Corp		95,977
1,023	e	Skyline Corp		30,025
2,963	e	Universal Forest Products, Inc		87,290
		TOTAL LUMBER AND WOOD PRODUCTS		375,229
METAL MINING - 0.59%
10,425	*	Apex Silver Mines Ltd		158,877
79,870	e*	Coeur d'Alene Mines Corp		394,558
21,390	e*	Hecla Mining Co		199,997
9,029	*	Rosetta Resources, Inc		179,045
4,516		Royal Gold, Inc		137,828
5,082	e*	ShengdaTech, Inc		73,435
7,224	e*	Stillwater Mining Co		69,784
10,843	*	US Gold Corp		32,095
9,275	e*	Uranium Resources, Inc		115,752
		TOTAL METAL MINING		1,361,371
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.37%
4,521		Blyth, Inc		99,191
11,622		Callaway Golf Co		202,571
5,739		Daktronics, Inc		129,529
4,999	*	Jakks Pacific, Inc		118,026
2,305	e	Marine Products Corp		16,158
5,734	e	Nautilus, Inc		27,810
3,519	*	RC2 Corp		98,778
2,954	*	Russ Berrie & Co, Inc		48,327
6,289	e*	Shuffle Master, Inc		75,405
1,533		Steinway Musical Instruments, Inc		42,265
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		858,060
MISCELLANEOUS RETAIL - 1.18%
4,652	e*	1-800-FLOWERS.COM, Inc (Class A)		40,612
3,479	*	AC Moore Arts & Crafts, Inc		47,836
3,876		Big 5 Sporting Goods Corp		55,892
2,385	e*	Blue Nile, Inc		162,323
2,769		Books-A-Million, Inc		33,006
10,412		Borders Group, Inc		110,888
2,761	*	Build-A-Bear Workshop, Inc		38,516
6,884	*	CKX, Inc		82,608
5,280		Cash America International, Inc		170,544
6,283	*	Ezcorp, Inc (Class A)		70,935
3,627	*	GSI Commerce, Inc		70,727
1,691	e*	Gander Mountain Co		8,337
5,617	e*	Hibbett Sports, Inc		112,228

287

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,854		Longs Drug Stores Corp	$	275,138
2,810	e*	Overstock.com, Inc		43,639
1,883	*	PC Connection, Inc		21,372
2,354		Pricesmart, Inc		70,761
2,764	*	Shutterfly, Inc		70,814
2,841	*	Stamps.com, Inc		34,603
1,947	e	Systemax, Inc		39,563
6,000	*	Valuevision International, Inc (Class A)		37,740
5,066		World Fuel Services Corp		147,066
8,712	e*	Zale Corp		139,915
3,064	e*	Zumiez, Inc		74,639
6,683	*	Priceline.com, Inc		767,609
		TOTAL MISCELLANEOUS RETAIL		2,727,311
MOTION PICTURES - 0.62%
7,285	*	Avid Technology, Inc		206,457
34,038	e*	Blockbuster, Inc (Class A)		132,748
2,483	e	Carmike Cinemas, Inc		18,027
4,963	e	Cinemark Holdings, Inc		84,371
3,201	*	Gaiam, Inc (Class A)		95,006
9,432	*	Macrovision Corp		172,889
7,469		National CineMedia, Inc		188,293
25,740	e*	Time Warner Telecom, Inc (Class A)		522,265
		TOTAL MOTION PICTURES		1,420,056
MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS - 0.03%
5,572	e*	Premier Exhibitions, Inc		60,958
		TOTAL MUSEUMS, BOTANICAL, ZOOLOGICAL GARDENS		60,958
NONCLASSIFIABLE ESTABLISHMENTS - 0.10%
4,313	e*	Energy Infrastructure Acquisition Corp		43,734
9,850	e*	Hicks Acquisition Co I, Inc		90,522
3,160	*	NRDC Acquisition Corp		28,977
8,580	*	Triplecrown Acquisition Corp		78,421
		TOTAL NONCLASSIFIABLE ESTABLISHMENTS		241,654
NONDEPOSITORY INSTITUTIONS - 1.00%
7,360	e*	Aldabra 2 Acquisition Corp		71,686
7,630	*	Alternative Asset Management Acquisition Corp		69,815
11,904		Advance America Cash Advance Centers, Inc		120,945
6,872		Advanta Corp (Class B)		55,457
12,354		Ares Capital Corp		180,739
1,901	e	Asta Funding, Inc		50,262
1,650	e	BlackRock Kelso Capital Corp		25,212
5,960		Chimera Investment Corp		106,565
9,190	e	Centerline Holding Co		70,028
3,224	e*	CompuCredit Corp		32,176
735	e*	Credit Acceptance Corp		15,192
3,005	*	Encore Capital Group, Inc		29,088
1,827		Federal Agricultural Mortgage Corp (Class C)		48,087
4,780		Financial Federal Corp		106,546
4,242	*	First Cash Financial Services, Inc		62,273
7,000	*	Heckmann Corp		51,450
5,988		Hercules Technology Growth Capital, Inc		74,371
9,229	*	INVESTools, Inc		163,722
5,750	e*	Information Services Group, Inc		39,388
2,380		Kohlberg Capital Corp		28,560

288

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,789	e*	Marathon Acquisition Corp	$	52,818
11,106		MCG Capital Corp		128,719
2,860	*	Mercadolibre, Inc		211,297
2,660	*	NewStar Financial, Inc		22,025
3,151	e	NGP Capital Resources Co		49,250
4,420	*	NTR Acquisition Co		41,990
3,050	e	Nelnet, Inc (Class A)		38,766
5,764	e*	Ocwen Financial Corp		31,933
9,479	*	PHH Corp		167,210
3,346	e	Patriot Capital Funding, Inc		33,761
3,776	e	TICC Capital Corp		34,852
3,113	e*	World Acceptance Corp		83,989
		TOTAL NONDEPOSITORY INSTITUTIONS		2,298,172
NONMETALLIC MINERALS, EXCEPT FUELS - 0.22%
4,563	e	AMCOL International Corp		164,405
5,716		Compass Minerals International, Inc		234,356
8,556	e*	General Moly Inc		99,849
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		498,610
OIL AND GAS EXTRACTION - 4.36%
1,744	e	APCO Argentina, Inc		47,995
3,794	*	ATP Oil & Gas Corp		191,749
1,420	*	Approach Resources, Inc		18,261
5,412	*	Arena Resources, Inc		225,735
4,062		Atlas America, Inc		240,389
4,815	*	Atwood Oceanics, Inc		482,656
7,261	e*	Basic Energy Services, Inc		159,379
7,022		Berry Petroleum Co (Class A)		312,128
5,485	*	Bill Barrett Corp		229,657
3,109	*	Bois d'Arc Energy, Inc		61,714
8,292	*	Brigham Exploration Co		62,356
4,357	e*	Bronco Drilling Co, Inc		64,701
7,609	*	Cal Dive International, Inc		100,743
3,718	*	Callon Petroleum Co		61,161
4,337	*	Carrizo Oil & Gas, Inc		237,451
931	*	Clayton Williams Energy, Inc		29,010
7,596	*	Complete Production Services, Inc		136,500
7,890	*	Comstock Resources, Inc		268,260
4,220	*	Concho Resources, Inc		86,974
2,320	*	Contango Oil & Gas Co		118,065
1,348	*	Dawson Geophysical Co		96,328
11,678	e*	Delta Petroleum Corp		220,130
10,960	e*	EXCO Resources, Inc		169,661
4,688	*	Edge Petroleum Corp		27,800
9,445	*	Encore Acquisition Co		315,180
4,724	*	Energy Partners Ltd		55,790
10,644	*	Exterran Holdings, Inc		870,679
6,714	*	FX Energy, Inc		38,136
1,966	*	GMX Resources, Inc		63,462
6,829	e*	GeoGlobal Resources, Inc		33,804
3,573	*	Geomet, Inc		18,580
1,285	*	Geokinetics, Inc		24,993
2,884	e*	Goodrich Petroleum Corp		65,236
32,884	*	Grey Wolf, Inc		175,272
3,748	*	Gulfport Energy Corp		68,438
6,360	e*	Harvest Natural Resources, Inc		79,500

289

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
14,769	*	Hercules Offshore, Inc	$	351,207
1,860		Kayne Anderson Energy Development Co		42,613
15,493	*	Mariner Energy, Inc		354,480
7,595	e*	McMoRan Exploration Co		99,419
14,097	*	Meridian Resource Corp		25,516
15,986	*	Newpark Resources, Inc		87,124
22,324	*	Oilsands Quest, Inc		91,082
6,802	*	Parallel Petroleum Corp		119,919
19,857	e*	Parker Drilling Co		149,920
6,686		Penn Virginia Corp		291,710
30,164	*	PetroHawk Energy Corp		522,139
2,639	*	Petroleum Development Corp		156,044
7,291	*	Petroquest Energy, Inc		104,261
9,168	*	Pioneer Drilling Co		108,916
5,910	e	RPC, Inc		69,206
1,590	*	Rex Energy Corp		18,969
4,982	*	Stone Energy Corp		233,706
8,278	e*	Sulphco, Inc		43,211
1,415	e*	Superior Offshore International, Inc		7,103
2,690	e*	Superior Well Services, Inc		57,082
5,318	*	Swift Energy Co		234,152
6,186	e*	TXCO Resources, Inc		74,603
2,543	*	Toreador Resources Corp		17,776
2,251	e*	Trico Marine Services, Inc		83,332
2,458	*	Union Drilling, Inc		38,763
800	m,v*	PetroCorp		0
10,333	e*	Vaalco Energy, Inc		48,048
2,670	*	Venoco, Inc		53,213
5,303	*	W-H Energy Services, Inc		298,082
10,344	e*	Warren Resources, Inc		146,161
7,480	*	Whiting Petroleum Corp		431,297
6,589	*	Willbros Group, Inc		252,293
		TOTAL OIL AND GAS EXTRACTION		10,069,220
PAPER AND ALLIED PRODUCTS - 0.62%
9,595	e*	AbitibiBowater, Inc		197,753
6,773	*	Buckeye Technologies, Inc		84,663
9,545	e*	Cenveo, Inc		166,751
3,578	*	Chesapeake Corp		18,570
8,008		Glatfelter		122,602
12,216	*	Graphic Packaging Corp		45,077
5,899		Greif, Inc (Class A)		385,618
5,701	*	Mercer International, Inc		44,639
2,645		Neenah Paper, Inc		77,102
6,242		Rock-Tenn Co (Class A)		158,609
2,747		Schweitzer-Mauduit International, Inc		71,175
7,393		Wausau Paper Corp		66,463
		TOTAL PAPER AND ALLIED PRODUCTS		1,439,022
PERSONAL SERVICES - 0.47%
978		CPI Corp		23,032
4,936	*	Coinstar, Inc		138,948
3,870		G & K Services, Inc (Class A)		145,202
5,357		Jackson Hewitt Tax Service, Inc		170,085
7,875		Regis Corp		220,185
16,641	*	Sally Beauty Holdings, Inc		150,601
2,928	*	Steiner Leisure Ltd		129,300

290

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,533		Unifirst Corp	$	96,254
		TOTAL PERSONAL SERVICES		1,073,607
PETROLEUM AND COAL PRODUCTS - 0.18%
2,401		Alon USA Energy, Inc		65,259
3,580	*	CVR Energy Inc		89,285
2,015		Delek US Holdings, Inc		40,763
7,007	e*	Headwaters, Inc		82,262
7,457	e*	Nova Biosource Fuels, Inc		21,625
3,258		WD-40 Co		123,706
		TOTAL PETROLEUM AND COAL PRODUCTS		422,900
PRIMARY METAL INDUSTRIES - 1.52%
8,011		Belden CDT, Inc		356,490
3,613	*	Brush Engineered Materials, Inc		133,753
5,192	*	Century Aluminum Co		280,056
1,610	*	Claymont Steel, Inc		37,594
1,198	e*	Coleman Cable, Inc		11,321
873	*	CommScope, Inc		42,986
4,154	e	Encore Wire Corp		66,132
2,226	e*	Esmark, Inc		31,453
1,916	*	LB Foster Co (Class A)		99,115
4,447	e	Gibraltar Industries, Inc		68,573
2,068	*	Haynes International, Inc		143,726
920	*	Horsehead Holding Corp		15,612
5,613		Matthews International Corp (Class A)		263,081
6,589		Mueller Industries, Inc		191,015
1,559	e*	Northwest Pipe Co		61,019
1,444		Olympic Steel, Inc		45,789
6,497		Quanex Corp		337,194
4,103	*	RTI International Metals, Inc		282,820
3,803		Schnitzer Steel Industries, Inc (Class A)		262,901
3,628	*	Superior Essex, Inc		87,072
4,849		Texas Industries, Inc		339,915
5,058		Tredegar Corp		81,333
1,257	*	Universal Stainless & Alloy		44,711
12,284		Worthington Industries, Inc		219,638
		TOTAL PRIMARY METAL INDUSTRIES		3,503,299
PRINTING AND PUBLISHING - 0.97%
9,550	*	ACCO Brands Corp		153,182
9,849		American Greetings Corp (Class A)		199,935
15,058		Belo (A.H.) Corp (Class A)		262,612
5,018		Bowne & Co, Inc		88,317
1,419		CSS Industries, Inc		52,077
1,674	*	Consolidated Graphics, Inc		80,051
1,925		Courier Corp		63,544
1,850	*	Dolan Media Co		53,965
4,548		Ennis, Inc		81,864
3,560	e	GateHouse Media, Inc		31,257
7,629		Journal Communications, Inc (Class A)		68,203
7,775	e	Lee Enterprises, Inc		113,904
4,722	e	Martha Stewart Living Omnimedia, Inc (Class A)		43,773
3,607		Media General, Inc (Class A)		76,649
1,611		Multi-Color Corp		44,254
3,745	e*	Playboy Enterprises, Inc (Class B)		34,154
7,864		Primedia, Inc		66,844

291

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,574		Schawk, Inc	$	39,948
5,464	*	Scholastic Corp		190,639
2,812		Standard Register Co		32,788
12,713	*	Sun-Times Media Group, Inc (Class A)		27,969
8,640	e*	Valassis Communications, Inc		101,002
7,670	*	VistaPrint Ltd		328,660
		TOTAL PRINTING AND PUBLISHING		2,235,591
RAILROAD TRANSPORTATION - 0.06%
5,552	*	Genesee & Wyoming, Inc (Class A)		134,192
		TOTAL RAILROAD TRANSPORTATION		134,192
REAL ESTATE - 0.21%
954	e	Consolidated-Tomoka Land Co		59,797
6,250		DuPont Fabros Technology Inc		122,500
2,256		Grubb & Ellis Co		14,461
4,850	e*	LoopNet, Inc		68,143
1,006	*	Stratus Properties, Inc		34,144
16,896		Stewart Enterprises, Inc (Class A)		150,374
4,060		Thomas Properties Group, Inc		43,767
		TOTAL REAL ESTATE		493,186
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.70%
968	*	AEP Industries, Inc		30,986
10,966		Cooper Tire & Rubber Co		181,816
2,225	*	Deckers Outdoor Corp		345,009
2,492	*	Metabolix, Inc		59,310
4,793		Schulman (A.), Inc		103,289
3,626	*	Skechers U.S.A., Inc (Class A)		70,743
5,650		Spartech Corp		79,665
4,254	e	Titan International, Inc		132,980
2,500	e*	Trex Co, Inc		21,275
10,926		Tupperware Corp		360,886
5,861		West Pharmaceutical Services, Inc		237,898
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		1,623,857
SECURITY AND COMMODITY BROKERS - 1.42%
2,686	*	Penson Worldwide, Inc		38,544
3,772		Calamos Asset Management, Inc (Class A)		112,330
3,067	e	Cohen & Steers, Inc		91,918
2,256	*	Cowen Group, Inc		21,455
1,680	*	Duff & Phelps Corp		33,062
1,802		Epoch Holding Corp		27,030
1,732		Evercore Partners, Inc (Class A)		37,325
5,880	*	FBR Capital Markets Corp		56,330
1,587	*	FCStone Group, Inc		73,050
988		GAMCO Investors, Inc (Class A)		68,370
2,848	*	GFI Group, Inc		272,611
3,253	e	Greenhill & Co, Inc		216,259
7,109	e*	Interactive Brokers Group, Inc (Class A)		229,763
5,202	*	KBW, Inc		133,119
17,378	*	Knight Capital Group, Inc (Class A)		250,243
9,358	e*	LaBranche & Co, Inc		47,164
17,713	e*	Ladenburg Thalmann Financial Services, Inc		37,552
5,576	e*	MarketAxess Holdings, Inc		71,540
2,184	*	Morningstar, Inc		169,806
3,086	*	Piper Jaffray Cos		142,944

292

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,090	e	Pzena Investment Management Inc	$	12,426
3,717		SWS Group, Inc		47,094
2,900	e	Sanders Morris Harris Group, Inc		29,725
2,691	*	Stifel Financial Corp		141,466
3,799	*	Thomas Weisel Partners Group, Inc		52,160
2,197	e	US Global Investors, Inc (Class A)		36,602
373		Value Line, Inc		15,017
4,141	*	WP Stewart & Co Ltd		21,161
14,924		Waddell & Reed Financial, Inc (Class A)		538,607
7,767	e	optionsXpress Holdings, Inc		262,680
		TOTAL SECURITY AND COMMODITY BROKERS		3,287,353
SOCIAL SERVICES - 0.16%
4,650	*	Bright Horizons Family Solutions, Inc		160,611
4,525	*	Capital Senior Living Corp		44,933
2,022	*	Providence Service Corp		56,899
4,317	*	Res-Care, Inc		108,616
		TOTAL SOCIAL SERVICES		371,059
SPECIAL TRADE CONTRACTORS - 0.49%
736	e	Alico, Inc		26,864
5,792	*	AsiaInfo Holdings, Inc		63,712
4,252		Chemed Corp		237,602
7,278		Comfort Systems USA, Inc		93,013
7,259	*	Dycom Industries, Inc		193,452
11,336	*	EMCOR Group, Inc		267,870
4,349	e*	Insituform Technologies, Inc (Class A)		64,365
2,310	e*	Integrated Electrical Services, Inc		43,405
3,055	*	Layne Christensen Co		150,337
		TOTAL SPECIAL TRADE CONTRACTORS		1,140,620
STONE, CLAY, AND GLASS PRODUCTS - 0.19%
5,262		Apogee Enterprises, Inc		90,033
3,606	e	CARBO Ceramics, Inc		134,143
4,229	*	Cabot Microelectronics Corp		151,863
2,662		Libbey, Inc		42,166
6,594	*	US Concrete, Inc		21,958
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		440,163
TEXTILE MILL PRODUCTS - 0.04%
1,950	e*	Heelys, Inc		13,572
2,734	e	Oxford Industries, Inc		70,455
3,274		Xerium Technologies, Inc		17,025
		TOTAL TEXTILE MILL PRODUCTS		101,052
TOBACCO PRODUCTS - 0.16%
4,800	e	Universal Corp		245,856
5,689	e	Vector Group Ltd		114,121
		TOTAL TOBACCO PRODUCTS		359,977
TRANSPORTATION BY AIR - 0.70%
10,548	*	ABX Air, Inc		44,091
1,861	*	Air Methods Corp		92,436
16,273	*	Airtran Holdings, Inc		116,515
7,199	*	Alaska Air Group, Inc		180,047
990	*	Allegiant Travel Co		31,819
2,365	*	Atlas Air Worldwide Holdings, Inc		128,230

293

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,599	e*	Bristow Group, Inc	$	203,883
9,154	e*	ExpressJet Holdings, Inc		22,702
31,753	e*	JetBlue Airways Corp		187,343
4,577	*	Midwest Air Group, Inc		67,740
2,523	*	PHI, Inc		78,263
3,275	*	Pinnacle Airlines Corp		49,944
5,972	*	Republic Airways Holdings, Inc		116,991
10,734		Skywest, Inc		288,208
		TOTAL TRANSPORTATION BY AIR		1,608,212
TRANSPORTATION EQUIPMENT - 1.90%
6,625	*	AAR Corp		251,949
4,183	*	Accuride Corp		32,878
1,281	e*	Aerovironment, Inc		31,000
3,877	*	Aftermarket Technology Corp		105,687
7,958		American Axle & Manufacturing Holdings, Inc		148,178
1,810	e	American Railcar Industries, Inc		34,843
3,754	*	Amerigon, Inc		79,360
2,264		Arctic Cat, Inc		27,032
12,695	e	ArvinMeritor, Inc		148,912
9,118		Clarcor, Inc		346,210
3,406	*	Comtech Group, Inc		54,871
12,679	e*	Force Protection, Inc		59,338
8,526		Federal Signal Corp		95,662
10,488	e*	Fleetwood Enterprises, Inc		62,718
2,180	e	Freightcar America, Inc		76,300
9,979	e*	GenCorp, Inc		116,355
1,546	*	GenTek, Inc		45,251
2,919		Greenbrier Cos, Inc		64,977
4,036	e	Group 1 Automotive, Inc		95,855
17,785	*	Hayes Lemmerz International, Inc		81,277
4,538	e	Heico Corp		247,230
4,322		Kaman Corp		159,093
1,808	*	Miller Industries, Inc		24,752
5,060	e	Monaco Coach Corp		44,933
2,186	e	Noble International Ltd		35,654
10,552	*	Orbital Sciences Corp		258,735
6,356	e	Polaris Industries, Inc		303,626
3,659		A.O. Smith Corp		128,248
6,084	e	Spartan Motors, Inc		46,482
3,285		Standard Motor Products, Inc		26,806
4,086	e	Superior Industries International, Inc		74,243
8,229	*	Tenneco, Inc		214,530
1,749	*	TransDigm Group, Inc		79,002
2,925	e	Triumph Group, Inc		240,874
22,119	e*	Visteon Corp		97,102
5,228	e	Wabash National Corp		40,203
8,663		Westinghouse Air Brake Technologies Corp		298,354
5,354	e	Winnebago Industries, Inc		112,541
		TOTAL TRANSPORTATION EQUIPMENT		4,391,061
TRANSPORTATION SERVICES - 0.42%
2,512	e	Ambassadors Group, Inc		45,995
1,685	e*	Ambassadors International, Inc		24,567
1,934	e*	Dynamex, Inc		52,334
6,896	*	HUB Group, Inc (Class A)		183,296
13,639	*	Lear Corp		377,255

294

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,630	*	Orbitz Worldwide, Inc	$	47,855
5,729		Pacer International, Inc		83,643
5,599	e	Ship Finance International Ltd		155,148
		TOTAL TRANSPORTATION SERVICES		970,093
TRUCKING AND WAREHOUSING - 0.35%
4,010	e	Arkansas Best Corp		87,979
3,662	*	Celadon Group, Inc		33,544
5,363		Forward Air Corp		167,165
10,402		Heartland Express, Inc		147,500
2,364	*	Marten Transport Ltd		32,978
5,277	e*	Old Dominion Freight Line		121,951
326	e*	Patriot Transportation Holding, Inc		30,067
2,220	*	Saia, Inc		29,526
1,367	e*	Universal Truckload Services, Inc		26,192
8,271	e	Werner Enterprises, Inc		140,855
		TOTAL TRUCKING AND WAREHOUSING		817,757
WATER TRANSPORTATION - 0.77%
9,028	e*	American Commercial Lines, Inc		146,615
2,294	e	Arlington Tankers Ltd		50,766
3,718	e	Double Hull Tankers, Inc		45,508
8,306		Eagle Bulk Shipping, Inc		220,524
3,567		Genco Shipping & Trading Ltd		195,329
5,089	e	General Maritime Corp		124,426
6,342		Golar LNG Ltd		140,285
4,064	*	Gulfmark Offshore, Inc		190,155
6,017		Horizon Lines, Inc (Class A)		112,157
4,086	*	Hornbeck Offshore Services, Inc		183,666
3,109		Knightsbridge Tankers Ltd		75,082
5,332	e	Nordic American Tanker Shipping		174,996
7,539	*	Odyssey Marine Exploration, Inc		46,666
987	e*	TBS International Ltd (Class A)		32,630
2,662	e*	Ultrapetrol Bahamas Ltd		45,281
		TOTAL WATER TRANSPORTATION		1,784,086
WHOLESALE TRADE-DURABLE GOODS - 1.39%
4,983		Agilysys, Inc		75,343
7,659		Applied Industrial Technologies, Inc		222,264
8,195		Barnes Group, Inc		273,631
7,262	*	Beacon Roofing Supply, Inc		61,146
2,674	e*	BlueLinx Holdings, Inc		10,509
6,026	e	Building Material Holding Corp		33,324
2,603		Castle (A.M.) & Co		70,776
5,228	e*	Conceptus, Inc		100,587
4,204	*	Digi International, Inc		59,655
3,226	*	Drew Industries, Inc		88,392
6,588	*	Genesis Microchip, Inc		56,459
1,057	*	Glu Mobile, Inc		5,518
1,777	e*	Hansen Medical, Inc		53,203
2,912	e	Houston Wire & Cable Co		41,176
19,112		IKON Office Solutions, Inc		248,838
8,592	*	Insight Enterprises, Inc		156,718
4,975	*	Interline Brands, Inc		109,002
10,175	e	Knight Transportation, Inc		150,692
20,010	*	LKQ Corp		420,610
584		Lawson Products, Inc		22,145

295

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,486	*	MWI Veterinary Supply, Inc	$	59,440
7,203		Owens & Minor, Inc		305,623
11,944	*	PSS World Medical, Inc		233,744
7,164	e	PEP Boys-Manny Moe & Jack		82,243
4,628	*	Solera Holdings, Inc		114,682
2,077	*	TomoTherapy, Inc		40,626
6,923	*	Tyler Technologies, Inc		89,237
2,868	e*	West Marine, Inc		25,755
		TOTAL WHOLESALE TRADE-DURABLE GOODS		3,211,338
WHOLESALE TRADE-NONDURABLE GOODS - 1.72%
10,047	*	Akorn, Inc		73,745
16,249	*	Alliance One International, Inc		66,133
9,847	e*	Allscripts Healthcare Solutions, Inc		191,229
2,836		Andersons, Inc		127,053
5,604	e*	Beijing Med-Pharm Corp		61,532
6,286	e*	Central European Distribution Corp		365,091
1,609	e*	Core-Mark Holding Co, Inc		46,210
5,448	*	Fresh Del Monte Produce, Inc		182,944
3,038	e*	Green Mountain Coffee Roasters, Inc		123,647
7,055	*	Hain Celestial Group, Inc		225,760
4,590	e	K-Swiss, Inc (Class A)		83,079
1,726		Kenneth Cole Productions, Inc (Class A)		30,188
2,914	*	LSB Industries, Inc		82,233
718	e*	Maui Land & Pineapple Co, Inc		20,901
9,641		Men's Wearhouse, Inc		260,114
4,981		Myers Industries, Inc		72,075
2,302		Nash Finch Co		81,215
9,085		Nu Skin Enterprises, Inc (Class A)		149,267
2,732	*	Nuco2, Inc		68,027
2,195	*	Perry Ellis International, Inc		33,759
3,833	*	School Specialty, Inc		132,430
7,269	e*	Source Interlink Cos, Inc		20,935
3,784		Spartan Stores, Inc		86,464
760	e*	Synutra International, Inc		22,952
16,386	*	Terra Industries, Inc		782,595
7,612	*	United Natural Foods, Inc		241,453
4,446	*	United Stationers, Inc		205,450
1,393	e	Valhi, Inc		22,204
2,601	e*	Volcom, Inc		57,300
3,611	*	Zep Inc		50,049
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		3,966,034
		TOTAL COMMON STOCKS		228,673,346
		(Cost $233,637,669)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 5.49%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.99%
$         2,280,000		Federal Home Loan Bank (FHLB) , 01/02/08		2,280,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		2,280,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 4.50%
65,652,364		State Street Navigator Securities Lending Prime Portfolio		10,394,655
				10,394,655

296

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Blend Index Fund
				VALUE
		TOTAL SHORT-TERM INVESTMENTS	$	12,674,655
		(Cost $12,674,449)
		TOTAL PORTFOLIO - 104.54%		241,348,001
		(Cost $234,905,118 )
		OTHER ASSETS & LIABILITIES, NET - (4.54)%		(10,489,574	)
		NET ASSETS - 100.00%	$	230,858,427
	*	Non-income producing
	b	In bankruptcy
	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 $135,355.
	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.
		At December 31, 2007, the unrealized appreciation on investments was $6,442,883 consisting of
		gross unrealized appreciation of $36,645,169 and gross unrealized depreciation of $30,202,286.

297

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INTERNATIONAL EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.75%
AGRICULTURAL SERVICES - 0.05%
10,225		Yara International ASA	$	473,602
		TOTAL AGRICULTURAL SERVICES		473,602
AMUSEMENT AND RECREATION SERVICES - 0.70%
20,921	e	Aristocrat Leisure Ltd		206,658
1,334	*	bwin Interactive Entertainment		51,900
37,375		Ladbrokes plc		240,494
3,611		Lottomatica S.p.A.		132,198
6,000		Nintendo Co Ltd		3,593,072
12,773		OPAP S.A.		512,063
2,700		Oriental Land Co Ltd		162,897
2,436		Paddy Power plc		80,171
58,225		PartyGaming plc		33,612
26,326		Publishing & Broadcasting Ltd		97,085
20,597		Rank Group plc		37,413
19		Round One Corp		37,927
10,500		Sega Sammy Holdings, Inc		130,927
23,979		Sky City Entertainment Group Ltd		84,884
30,861	e	TABCORP Holdings Ltd		400,500
63,216		Tattersall's Ltd		221,472
20,936		William Hill plc		218,587
		TOTAL AMUSEMENT AND RECREATION SERVICES		6,241,860
APPAREL AND ACCESSORY STORES - 0.39%
2,900		Aoyama Trading Co Ltd		75,540
124,000		Belle International Holdings Ltd		187,334
25,894		Burberry Group plc		293,547
3,300		Fast Retailing Co Ltd		235,725
89,000		Giordano International Ltd		42,689
28,966		Hennes & Mauritz AB (B Shares)		1,763,541
13,270		Inditex S.A.		815,248
		TOTAL APPAREL AND ACCESSORY STORES		3,413,624
APPAREL AND OTHER TEXTILE PRODUCTS - 0.08%
9,000		Asics Corp		129,705
56,000		C C Land Holdings Ltd		81,586
9,000		Gunze Ltd		39,717
29,000		Mitsubishi Rayon Co Ltd		140,957
8,000		Nisshinbo Industries, Inc		97,892
7,000		Onward Kashiyama Co Ltd		71,808
1,200		Shimamura Co Ltd		102,368
5,000		Wacoal Holdings Corp		65,479
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		729,512

298

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
AUTO REPAIR, SERVICES AND PARKING - 0.08%
11,900		Aisin Seiki Co Ltd	$	496,388
6,100		NOK Corp		129,683
9,100		Sumitomo Rubber Industries, Inc		81,294
		TOTAL AUTO REPAIR, SERVICES AND PARKING		707,365
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.07%
14,000		Fuji Heavy Industries Ltd		65,416
26,290		Inchcape plc		198,080
10,600		Suzuki Motor Corp		319,760
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		583,256
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.06%
134,861		Kingfisher plc		390,870
6,911		Travis Perkins plc		165,635
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		556,505
BUSINESS SERVICES - 1.91%
13	*	Access Co Ltd		59,347
1,739		Acciona S.A.		551,343
7,947		Adecco S.A.		429,938
13,421		Aggreko plc		142,396
1,300		Asatsu-DK, Inc		36,423
4,075	*	Atos Origin S.A.		210,610
15,229		Autostrade S.p.A.		577,347
5,629	*	Business Objects S.A.		344,010
12,159		Cintra Concesiones de Infraestructuras de Transporte S.A.		183,637
29,783		Computershare Ltd		258,371
3,300		CSK Holdings Corp		106,933
3,102		Dassault Systemes S.A.		183,634
113		Dentsu, Inc		299,405
66		eAccess Ltd		41,060
5,700	e*	Elpida Memory, Inc		197,968
60,596		Experian Group Ltd		478,872
1,500	e	FUJI SOFT, Inc		23,685
116,000		Fujitsu Ltd		781,882
54		Goodwill Group, Inc		6,980
68,085		Group 4 Securicor plc		331,710
1,160		Hakuhodo DY Holdings, Inc		64,378
86,017		Hays plc		197,766
9,309		IFIL - Investments S.p.A.		87,786
6,093		Indra Sistemas S.A.		165,516
3,127		JC Decaux S.A.		122,982
10,800		JSR Corp		278,906
56	*	KK DaVinci Advisors		49,626
5,800	e	Konami Corp		190,019
91,028		LogicaCMG plc		213,364
1,400		Meitec Corp		42,232
26,597		Misys plc		97,814
2,050		Mitsubishi UFJ Lease & Finance Co Ltd		68,079
121,000		NEC Corp		557,803
6,500		Nomura Research Institute Ltd		214,116
73		NTT Data Corp		324,764
300		Obic Co Ltd		55,480
1,900		Oracle Corp Japan		83,847

299

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
1,000		Otsuka Corp	$	85,843
3,755		Promotora de Informaciones S.A.		70,492
6,092		Public Power Corp		320,646
8,076		Publicis Groupe S.A.		316,206
374		Rakuten, Inc		184,129
2,683	e	Randstad Holdings NV		105,991
74,702		Sage Group plc		342,015
54,271		SAP AG.		2,819,201
13,200		Secom Co Ltd		721,944
18,314		Securitas AB (B Shares)		255,022
269		SGS S.A.		320,524
70,000		Singapore Post Ltd		54,465
1,185	e	Societe Des Autoroutes Paris-Rhin-Rhone		116,080
45,700	e	Softbank Corp		944,967
2,300		Square Enix Co Ltd		70,411
54,000		Tencent Holdings Ltd		408,944
3,771	e	Tietoenator Oyj		84,686
2,000		TIS, Inc		34,767
6,500		Trend Micro, Inc		232,735
1,280		USS Co Ltd		79,631
68,844		WPP Group plc		886,656
924		Yahoo! Japan Corp		413,552
		TOTAL BUSINESS SERVICES		16,928,936
CHEMICALS AND ALLIED PRODUCTS - 8.67%
5,313	*	Actelion Ltd		244,262
14,981		Air Liquide		2,229,507
16,488		Akzo Nobel NV		1,320,785
1,500		Alfresa Holdings Corp		90,498
72,000		Asahi Kasei Corp		479,506
32,500		Astellas Pharma, Inc		1,416,775
84,768		AstraZeneca plc		3,651,524
6,000	e	AstraZeneca plc (ADR)		256,920
30,337		BASF AG.		4,497,968
5,216		Beiersdorf AG.		404,181
1,591		Christian Dior S.A.		209,119
16,800		Chugai Pharmaceutical Co Ltd		240,612
3,878		Ciba Specialty Chemicals AG.		179,830
33,390		CSL Ltd		1,066,003
15,000		Daicel Chemical Industries Ltd		89,961
42,600		Daiichi Sankyo Co Ltd		1,311,767
40,000		Dainippon Ink and Chemicals, Inc		200,510
4,000		Dainippon Sumitomo Pharma Co Ltd		29,289
8,422		DSM NV		398,092
15,400		Eisai Co Ltd		606,543
22,972	*	Elan Corp plc		496,808
1,900	*	Elan Corp plc (ADR)		41,762
345,921		GlaxoSmithKline plc		8,807,090
2,726		H Lundbeck AS		73,762
6,449		Haw Par Corp Ltd		31,854
10,772		Henkel KGaA		605,243
73,049	v	Imperial Chemical Industries plc		969,896
2,246		K+S AG.		534,434
11,000		Kansai Paint Co Ltd		79,658

300

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES	COMPANY		VALUE
32,000	Kao Corp	$	962,449
31,500	Kingboard Chemical Holdings Ltd		187,447
1,700	Kose Corp		45,271
25,000	Kuraray Co Ltd		304,122
11,000	Kyowa Hakko Kogyo Co Ltd		117,567
7,415	Linde AG.		980,579
2,602	Lonza Group AG.		315,784
15,281	L'Oreal S.A.		2,189,032
8,500	Mediceo Paltac Holdings Co Ltd		125,923
3,714	Merck KGaA		479,475
70,500	Mitsubishi Chemical Holdings Corp		541,458
23,000	Mitsubishi Gas Chemical Co, Inc		226,469
106,000	Mitsui & Co Ltd		2,244,014
7,000	Nippon Kayaku Co Ltd		45,804
5,000	Nippon Shokubai Co Ltd		48,114
8,000	Nissan Chemical Industries Ltd		104,623
142,363	Novartis AG.		7,808,808
29,444	Novo Nordisk AS (Class B)		1,934,048
2,644	Novozymes AS (B Shares)		301,724
962	Omega Pharma S.A.		67,090
2,400	Ono Pharmaceutical Co Ltd		112,143
4,399	Orion Oyj (Class B)		103,098
37,103	Reckitt Benckiser Group plc		2,152,204
43,100	Roche Holding AG.		7,446,328
62,632	Sanofi-Aventis		5,767,158
4,000	Santen Pharmaceutical Co Ltd		99,002
25,300	Shin-Etsu Chemical Co Ltd		1,589,813
18,000	Shionogi & Co Ltd		318,220
16,176	Shire plc		369,978
20,000	Shiseido Co Ltd		473,526
66,000	Showa Denko KK		236,316
3,772	Solvay S.A.		527,772
11,181	SSL International plc		119,075
95,000	Sumitomo Chemical Co Ltd		847,827
37,717	Symbion Health Ltd		131,807
6,396	Syngenta AG.		1,629,860
9,000	Taisho Pharmaceutical Co Ltd		173,209
18,000	Taiyo Nippon Sanso Corp		169,019
52,200	Takeda Pharmaceutical Co Ltd		3,069,901
12,000	Tanabe Seiyaku Co Ltd		113,754
53,000	Teijin Ltd		227,248
13,000	Tokuyama Corp		130,681
84,000	Toray Industries, Inc		657,924
26,000	Tosoh Corp		111,946
58,000	UBE Industries Ltd		197,807
6,327	UCB S.A.		286,948
457	Wacker Chemie AG.		132,095
8,156	Zeltia S.A.		72,859
9,000	Zeon Corp		54,299
	TOTAL CHEMICALS AND ALLIED PRODUCTS		76,915,777
COMMUNICATIONS - 6.45%
4,331	Antena 3 de Television S.A.		66,424
10,011	Belgacom S.A.		493,839

301

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
69,163		British Sky Broadcasting plc	$	852,215
493,820		BT Group plc		2,681,133
149,503		Cable & Wireless plc		553,538
23,850		Carphone Warehouse Group plc		163,555
6,882		Cosmote Mobile Telecommunications S.A.		260,602
173,579		Deutsche Telekom AG.		3,811,800
8,839		Elisa Oyj		271,385
111,803		France Telecom S.A.		4,024,431
23		Fuji Television Network, Inc		38,088
5,441		Gestevision Telecinco S.A.		139,293
21,701		Hellenic Telecommunications Organization S.A.		799,546
1,600		Hikari Tsushin, Inc		54,711
73,000		Hutchison Telecommunications International Ltd		109,724
223,618		ITV plc		380,145
113	*	Jupiter Telecommunications Co		96,295
152		KDDI Corp		1,132,023
3,384		M6-Metropole Television		89,057
44,190		Mediaset S.p.A.		446,119
1,668		Mobistar S.A.		151,809
3,027		Modern Times Group AB (B Shares)		213,096
320		Nippon Telegraph & Telephone Corp		1,601,217
992		NTT DoCoMo, Inc		1,651,631
45,375		Portugal Telecom SGPS S.A.		592,422
13,912	e	PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		194,248
116,930		Royal KPN NV		2,126,715
210,071		Seat Pagine Gialle S.p.A.		83,080
8,870		SES Global S.A.		233,431
492,403		Singapore Telecommunications Ltd		1,368,309
9,530		Sky Network Television Ltd		44,003
7,059		Societe Television Francaise 1		188,867
2,451	*	Sogecable S.A.		98,188
1,301		Swisscom AG.		507,920
17,365		Tele2 AB (B Shares)		347,934
107,179	e	Telecom Corp of New Zealand Ltd		358,786
655,071		Telecom Italia S.p.A.		2,035,215
368,822		Telecom Italia S.p.A.		876,800
263,875		Telefonica S.A.		8,572,456
20,048		Telekom Austria AG.		557,793
49,754		Telenor ASA		1,188,906
16,000		Television Broadcasts Ltd		96,135
136,104		TeliaSonera AB		1,274,027
235,142		Telstra Corp Ltd		968,325
1,700		Tokyo Broadcasting System, Inc		36,522
71,567		Vivendi Universal S.A.		3,283,437
1,280,000		Vodafone Group plc		4,785,094
194,738		Vodafone Group plc (ADR)		7,267,622
		TOTAL COMMUNICATIONS		57,167,911
DEPOSITORY INSTITUTIONS - 15.25%
18,000		77 Bank Ltd		112,626
10,528		Alliance & Leicester plc		135,802
52,077		Allied Irish Banks plc		1,193,179
22,772		Alpha Bank S.A.		829,017
21,411		Anglo Irish Bank Corp plc		342,466

302

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
22,000		Aozora Bank Ltd	$	64,396
115,803	e	Australia & New Zealand Banking Group Ltd		2,792,149
7,718		Banca Carige S.p.A.		39,438
476,056		Banca Intesa S.p.A.		3,765,462
60,961		Banca Intesa S.p.A.		445,418
65,392	e	Banca Monte dei Paschi di Siena S.p.A.		352,071
24,531		Banca Popolare di Milano		334,267
36,938		Banche Popolari Unite Scpa		1,015,840
231,380		Banco Bilbao Vizcaya Argentaria S.A.		5,669,735
13,306		Banco BPI S.A.		104,274
123,867	e	Banco Comercial Portugues S.A.		528,812
28,440		Banco de Sabadell S.A.		308,114
12,784		Banco Espirito Santo S.A.		280,363
40,813	*	Banco Popolare Scarl		904,609
50,352		Banco Popular Espanol S.A.		861,322
385,936		Banco Santander Central Hispano S.A.		8,345,386
85,824		Bank of East Asia Ltd		587,210
3,157		Bank of Ireland		47,043
55,261		Bank of Ireland		820,872
18,000		Bank of Kyoto Ltd		213,651
71,000		Bank of Yokohama Ltd		498,268
7,921		Bankinter S.A.		145,341
419,420		Barclays plc		4,207,892
13,693		Bendigo Bank Ltd		177,461
51,987		BNP Paribas		5,641,293
235,000		BOC Hong Kong Holdings Ltd		658,521
44,000		Chiba Bank Ltd		358,412
35,000		CITIC International Financial Holdings Ltd		21,860
38,162		Commerzbank AG.		1,465,173
80,499		Commonwealth Bank of Australia		4,177,305
40,679		Credit Agricole S.A.		1,372,084
27,635		Danske Bank AS		1,082,360
73,000		DBS Group Holdings Ltd		1,049,776
31,190		Deutsche Bank AG.		4,076,767
30,979		Dexia		780,397
43,563		DNB NOR Holding ASA		665,899
18,308		EFG Eurobank Ergasias S.A.		644,556
2,365		EFG International		95,047
11,747		Erste Bank der Oesterreichischen Sparkassen AG.		832,974
126,224	e	Fortis		3,323,675
46,092	m*	Fortis		674
43,000		Fukuoka Financial Group, Inc		251,730
23,000		Gunma Bank Ltd		151,940
24,000		Hachijuni Bank Ltd		161,984
51,500		Hang Seng Bank Ltd		1,062,707
26,000		Hiroshima Bank Ltd		141,037
73,000		Hokuhoku Financial Group, Inc		212,371
718,595		HSBC Holdings plc		12,044,291
114,986		ING Groep NV		4,497,091
23,330		Investec plc		209,100
40,000		Joyo Bank Ltd		223,784
6,466		Julius Baer Holding AG.		534,574
3,461	*	Jyske Bank		272,806
346,330		Lloyds TSB Group plc		3,253,996

303

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
30,344	e	Mediobanca S.p.A.	$	626,427
536,280		Mitsubishi UFJ Financial Group, Inc		5,026,050
47,000		Mitsui Trust Holdings, Inc		360,551
609		Mizuho Financial Group. Inc		2,911,033
35,000		Mizuho Trust & Banking Co Ltd		65,166
100,040		National Australia Bank Ltd		3,319,470
23,792		National Bank of Greece S.A.		1,634,206
35,000		Nishi-Nippon City Bank Ltd		87,723
126,378		Nordea Bank AB		2,111,775
4,892		OKO Bank (Class A)		93,481
157,520		Oversea-Chinese Banking Corp		907,180
19,768		Piraeus Bank S.A.		771,679
2,110		Raiffeisen International Bank Holding AG.		319,599
340	e	Resona Holdings, Inc		611,735
615,335		Royal Bank of Scotland Group plc		5,438,505
17		Sapporo Hokuyo Holdings, Inc		151,564
92,000		Shinsei Bank Ltd		335,998
34,000		Shizuoka Bank Ltd		373,432
27,359		Skandinaviska Enskilda Banken AB (Class A)		700,569
22,987		Societe Generale		3,324,859
16,444		St George Bank Ltd		456,116
40,892		Standard Chartered plc		1,501,012
406	e	Sumitomo Mitsui Financial Group, Inc		3,041,865
77,000		Sumitomo Trust & Banking Co Ltd		515,562
11,000		Suruga Bank Ltd		119,930
29,084		Svenska Handelsbanken (A Shares)		931,487
10,200		Swedbank AB (A Shares)		288,804
3,370		Sydbank AS		144,876
127,906		UBS A.G.		5,919,953
576,530		UniCredito Italiano S.p.A		4,787,769
77,000		United Overseas Bank Ltd		1,064,504
115,512		Westpac Banking Corp		2,831,788
9,500		Wing Hang Bank Ltd		142,182
		TOTAL DEPOSITORY INSTITUTIONS		135,303,518
EATING AND DRINKING PLACES - 0.25%
5,529		Autogrill S.p.A.		94,175
117,933		Compass Group plc		724,228
31,879		Enterprise Inns plc		309,043
23,833		Mitchells & Butlers plc		201,154
15,291		Punch Taverns plc		232,701
5,646		Sodexho Alliance S.A.		346,699
11,313		Whitbread plc		315,276
		TOTAL EATING AND DRINKING PLACES		2,223,276
EDUCATIONAL SERVICES - 0.02%
3,700		Benesse Corp		157,982
		TOTAL EDUCATIONAL SERVICES		157,982
ELECTRIC, GAS, AND SANITARY SERVICES - 5.62%
24,298		A2A S.p.A.		111,460
23,957		AGL Energy Ltd		280,191
62,650		British Energy Group plc		684,665
7,311		Caltex Australia Ltd		124,344

304

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
225,050		Centrica plc	$	1,607,148
42,700		Chubu Electric Power Co, Inc		1,114,179
9,500		Chugoku Electric Power Co, Inc		184,957
78,500		CLP Holdings Ltd		536,092
14,967		Contact Energy Ltd		94,907
38,089		E.ON AG.		8,107,633
9,100		Electric Power Development Co		339,677
6,402		Electricite de France		762,658
269,143		Enel S.p.A.		3,201,132
118,586		Energias de Portugal S.A.		775,004
27,340		Fortum Oyj		1,231,553
7,573		Gas Natural SDG S.A.		443,106
11,000		Hokkaido Electric Power Co, Inc		238,285
4,500		Hokuriku Electric Power Co		93,855
227,100		Hong Kong & China Gas Ltd		696,090
78,500		Hong Kong Electric Holdings Ltd		451,526
43,400	*	Iberdrola Renovables		358,510
230,366		Iberdrola S.A.		3,502,795
91,187		International Power plc		823,181
48,500		Kansai Electric Power Co, Inc		1,130,936
16,256		Kelda Group plc		351,098
25,700		Kyushu Electric Power Co, Inc		632,637
159,798		National Grid plc		2,652,909
4,412		Oest Elektrizitatswirts AG. (Class A)		308,854
120,000		Osaka Gas Co Ltd		473,705
342		Puma AG. Rudolf Dassler Sport		136,506
6,315		Red Electrica de Espana		399,229
29,381		RWE AG.		4,123,830
52,963		Scottish & Southern Energy plc		1,726,917
50,460		SembCorp Industries Ltd		203,319
13,420		Severn Trent plc		407,654
5,600		Shikoku Electric Power Co, Inc		150,132
52,604		Snam Rete Gas S.p.A.		336,096
3,113		Sociedad General de Aguas de Barcelona S.A. (Class A)		125,299
66,100		Sojitz Holdings Corp		239,632
63,608		Suez S.A.		4,330,928
25,800		Tohoku Electric Power Co, Inc		581,981
75,600		Tokyo Electric Power Co, Inc		1,955,727
140,000		Tokyo Gas Co Ltd		655,418
6,270		Union Fenosa S.A.		423,427
52,053		United Utilities plc		783,344
13,162		Vector Ltd		22,283
21,428		Veolia Environnement		1,956,487
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		49,871,296
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 4.96%
133,428		ABB Ltd		3,844,386
9,700	e	Advantest Corp		276,113
140,762		Alcatel S.A.		1,018,717
9,000		Alps Electric Co Ltd		116,735
71,499		ARM Holdings plc		176,485
539	e	Bang & Olufsen AS (B Shares)		50,729
552		Barco NV		42,128
6,914	*	CSR plc		82,578

305

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
900,337		Ericsson (LM) (B Shares)	$	2,114,605
15,000	e	Fisher & Paykel Appliances Holdings Ltd		39,593
25,900		Fisher & Paykel Healthcare Corp		69,560
124,000	*	Foxconn International Holdings Ltd		278,298
28,000		Fuji Electric Holdings Co Ltd		97,999
10,182		Gamesa Corp Tecnologica S.A.		476,074
10,385	e	GN Store Nord		81,654
1,800		Hirose Electric Co Ltd		208,173
5,700		Hitachi Chemical Co Ltd		131,383
3,600		Hitachi High-Technologies Corp		78,790
210,000		Hitachi Ltd		1,565,860
24,800		Hoya Corp		790,297
7,700		Ibiden Co Ltd		534,172
44,343	*	Infineon Technologies AG.		523,193
69,583		Koninklijke Philips Electronics NV		3,003,188
1,806		Kudelski S.A.		35,764
10,100		Kyocera Corp		895,950
2,405		Legrand S.A.		82,104
1,400		Mabuchi Motor Co Ltd		84,465
121,000		Matsushita Electric Industrial Co Ltd		2,507,407
24,000		Matsushita Electric Works Ltd		265,748
1,800	*	Millicom International Cellular S.A.		208,318
20,000		Minebea Co Ltd		128,362
120,000		Mitsubishi Electric Corp		1,254,621
5,500		Mitsumi Electric Co Ltd		187,083
12,900		Murata Manufacturing Co Ltd		748,261
2,000	*	NEC Electronics Corp		47,711
1,547		Neuf Cegetel		78,258
9,000		NGK Spark Plug Co Ltd		157,580
6,900		Nidec Corp		511,408
9,900		Nitto Denko Corp		524,621
1,402		NKT Holding AS		126,179
241,757		Nokia Oyj		9,373,797
12,800		Omron Corp		305,348
7,600		Pioneer Corp		68,711
2,886	*	Q-Cells AG.		411,822
10,358	*	Renewable Energy Corp A.S.		526,499
41,000		Ricoh Co Ltd		757,866
2,300		Rinnai Corp		75,147
6,200		Rohm Co Ltd		541,109
6,000		Sanken Electric Co Ltd		32,279
85,000	*	Sanyo Electric Co Ltd		117,173
3,022		Schindler Holding AG.		194,856
61,000		Sharp Corp		1,097,525
3,500		Shinko Electric Industries		71,588
22,793		Smiths Group plc		459,617
61,700		Sony Corp		3,424,249
9,100		Stanley Electric Co Ltd		227,266
40,445		STMicroelectronics NV		579,501
6,500		Sumco Corp		187,352
6,000		Taiyo Yuden Co Ltd		96,836
6,062		Tandberg ASA		126,714
7,300		TDK Corp		543,669
65,142	e	Terna Rete Elettrica Nazionale S.p.A.		262,627

306

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
14,573		Thomson	$	207,312
52,016		Tomkins plc		183,013
3,500		Toyota Boshoku Corp		113,727
7,500		Ushio, Inc		165,152
3,770		Valeo S.A.		155,437
12,000		Venture Corp Ltd		106,707
12,000		Yaskawa Electric Corp		163,702
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		44,021,151
ENGINEERING AND MANAGEMENT SERVICES - 0.28%
7,884		Cap Gemini S.A.		495,653
34,345		Capita Group plc		477,204
15,930		Downer EDI Ltd		75,252
3,426		Fugro NV		264,475
14,000		JGC Corp		241,740
8,100		SBM Offshore NV		255,801
28,264		Serco Group plc		260,073
8,750		WorleyParsons Ltd		399,512
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		2,469,710
FABRICATED METAL PRODUCTS - 0.22%
50,717		Amcor Ltd		307,716
2,344		Geberit AG.		321,947
9,000		Hitachi Cable Ltd		53,493
6,000		Hitachi Metals Ltd		80,992
15,900		JS Group Corp		254,622
37,118		Rexam plc		309,218
12,000		Sanwa Shutter Corp		59,186
11,187		Ssab Svenskt Stal AB (Series A)		304,634
5,281		Ssab Svenskt Stal AB (Series B)		129,917
9,400		Toyo Seikan Kaisha Ltd		166,771
		TOTAL FABRICATED METAL PRODUCTS		1,988,496
FOOD AND KINDRED PRODUCTS - 3.88%
41,000		Ajinomoto Co, Inc		466,464
24,300		Asahi Breweries Ltd		411,544
9,923		Associated British Foods plc		177,676
128,314		Cadbury Schweppes plc		1,586,173
239	*	Carlsberg AS (Class A)		27,321
1,712		Carlsberg AS (Class B)		207,116
9,584		Coca Cola Hellenic Bottling Co S.A.		414,764
30,616		Coca-Cola Amatil Ltd		254,844
3,000		Coca-Cola West Japan Co Ltd		66,464
54,941		CSR Ltd		149,547
2,932		Danisco AS		207,825
161,450		Diageo plc		3,470,937
799		East Asiatic Co Ltd A.S.		62,274
376		Givaudan S.A.		362,334
8,078		Greencore Group plc		52,911
26,782		Groupe Danone		2,404,221
14,949		Heineken NV		966,482
3,600		House Foods Corp		60,647
7,516		Iaws Group plc		165,381
11,219		InBev NV		934,958

307

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
3,000		Ito En Ltd	$	57,065
900	e	Ito En Ltd		12,866
92,529		J Sainsbury plc		783,262
17,000		Kaneka Corp		140,912
7,589		Kerry Group plc (Class A)		240,773
8,000		Kikkoman Corp		110,066
49,000		Kirin Brewery Co Ltd		719,769
45		Lindt & Spruengli AG.		155,810
16,637		Lion Nathan Ltd		140,384
2,400	e	Matsumotokiyoshi Holdings Co Ltd		58,434
12,000	e	Meiji Dairies Corp		61,227
17,000		Meiji Seika Kaisha Ltd		72,282
24,183		Nestle S.A.		11,107,327
14,000		Nichirei Corp		58,273
10,000		Nippon Meat Packers, Inc		100,882
11,000		Nisshin Seifun Group, Inc		110,576
4,900		Nissin Food Products Co Ltd		158,340
28,000		Olam International Ltd		55,632
90,089		Parmalat S.p.A.		350,361
5,346		Pernod-Ricard S.A.		1,235,731
5,500		Q.P. Corp		57,307
26,455		Sampo Oyj (A Shares)		699,309
13,000		Sapporo Holdings Ltd		104,731
47,464		Scottish & Newcastle plc		700,584
3,483	e	Suedzucker AG.		82,445
50,500		Swire Pacific Ltd (Class A)		696,226
10,000		Takara Holdings, Inc		60,243
29,092		Tate & Lyle plc		257,702
100,000		Tingyi Cayman Islands Holding Corp		161,592
5,000		Toyo Suisan Kaisha Ltd		90,856
80,245		Unilever plc		3,019,011
22,000		Wilmar International Ltd		82,379
7,200		Yakult Honsha Co Ltd		166,603
5,000	e	Yamazaki Baking Co Ltd		48,964
		TOTAL FOOD AND KINDRED PRODUCTS		34,407,807
FOOD STORES - 1.60%
36,747	e	Carrefour S.A.		2,863,061
981		Colruyt S.A.		230,961
5,976		Delhaize Group		525,981
3,300		FamilyMart Co Ltd		103,093
57,824		Goodman Fielder Ltd		96,213
13,265		Jeronimo Martins SGPS S.A.		104,728
3,901		Kesko Oyj (B Shares)		215,135
76,702		Koninklijke Ahold NV		1,068,717
3,200		Lawson, Inc		113,432
50,700		Seven & I Holdings Co Ltd		1,479,497
41,262		Sonae SPGS S.A.		119,448
482,686		Tesco plc		4,585,594
72,649		WM Morrison Supermarkets plc		465,662
74,246		Woolworths Ltd		2,215,861
		TOTAL FOOD STORES		14,187,383

308

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
FURNITURE AND FIXTURES - 0.02%
1,724		Neopost S.A.	$	177,676
		TOTAL FURNITURE AND FIXTURES		177,676
FURNITURE AND HOME FURNISHINGS STORES - 0.15%
109,563		DSG International plc		216,461
28,637		Harvey Norman Holdings Ltd		170,984
28,938		Kesa Electricals plc		134,506
2,100		Nitori Co Ltd		100,756
2,100		Shimachu Co Ltd		59,589
5,300		Yamada Denki Co Ltd		605,836
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		1,288,132
GENERAL BUILDING CONTRACTORS - 0.75%
19,701		Amec plc		328,834
25,031		Balfour Beatty plc		247,764
17,547		Barratt Developments plc		159,102
4,433		Berkeley Group Holdings plc		119,129
1,981		Bilfinger Berger AG.		152,868
26,000		Cheung Kong Infrastructure Holdings Ltd		97,199
25,998		CRH plc		901,608
4,900		Daito Trust Construction Co Ltd		271,503
31,000		Daiwa House Industry Co Ltd		400,421
988		Eiffage S.A.		97,302
30,359		Fletcher Building Ltd		268,672
54,500		Haseko Corp		94,155
6,231		Hellenic Technodomiki Tev S.A.		89,278
2,483		Hochtief AG.		333,985
1,719		Imerys S.A.		141,346
55,000		Kajima Corp		179,698
21,118		Lend Lease Corp Ltd		320,787
33,000		Obayashi Corp		166,012
16,536		Persimmon plc		263,333
4,714		Sacyr Vallehermoso S.A.		183,330
25,000		Sekisui Chemical Co Ltd		168,509
32,000		Sekisui House Ltd		346,023
32,000		Shimizu Corp		139,784
21,365		Skanska AB (B Shares)		403,288
58,000		Taisei Corp		156,792
65,965		Taylor Woodrow plc		266,888
3,338		Titan Cement Co S.A.		152,266
11,000		Toda Corp		53,073
7,511		YIT Oyj		164,612
		TOTAL GENERAL BUILDING CONTRACTORS		6,667,561
GENERAL MERCHANDISE STORES - 0.53%
40,300		Aeon Co Ltd		590,891
8,000	e	Hankyu Department Stores, Inc		62,588
11,700		Isetan Co Ltd		159,086
25,400		J Front Retailing Co Ltd		224,409
3,353	*	KarstadtQuelle AG.		79,613
36,000		Keio Corp		218,485
94,000	e	Kintetsu Corp		291,975
103,437		Marks & Spencer Group plc		1,153,052
15,600		Marui Co Ltd		154,024

309

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
22,000		Mitsukoshi Ltd	$	100,040
4,693		PPR		754,755
18,000		Takashimaya Co Ltd		217,518
44,000		Tobu Railway Co Ltd		205,595
68,000		Tokyu Corp		447,388
9,000		UNY Co Ltd		77,259
		TOTAL GENERAL MERCHANDISE STORES		4,736,678
HEALTH SERVICES - 0.21%
1,578		Coloplast AS (Class B)		136,913
49,000		Fraser and Neave Ltd		200,841
11,220		Fresenius Medical Care AG.		601,871
9,914		Getinge AB (B Shares)		266,134
9,255		Intertek Group plc		182,388
32,550		Parkway Holdings Ltd		89,547
17,251		Sonic Healthcare Ltd		253,261
413		Straumann Holding AG.		113,907
		TOTAL HEALTH SERVICES		1,844,862
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.60%
15,096	e	Abertis Infraestructuras S.A.		486,448
12,911		ACS Actividades Cons y Servicios S.A.		767,332
17,369		Biffa plc		114,097
13,573		Bouygues S.A.		1,131,133
8,000		Chiyoda Corp		91,161
2,709		Fomento de Construcciones y Contratas S.A.		203,580
3,625		Grupo Ferrovial S.A.		255,033
11,000	e	Nishimatsu Construction Co Ltd		30,721
8,000	e	Okumura Corp		39,028
62,733		Transurban Group		376,765
25,239	e	Vinci S.A.		1,869,023
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		5,364,321
HOLDING AND OTHER INVESTMENT OFFICES - 4.96%
22,551		3i Group plc		450,248
49,000		CapitaCommercial Trust		83,060
65,700		CapitaMall Trust		157,923
70,843	e	CFS Gandel Retail Trust		145,556
87,010		Commonwealth Property Office Fund		118,036
536		Eurazeo		68,766
119,702		GPT Group		424,621
8,692		Great Portland Estates plc		81,321
4,659		Groupe Bruxelles Lambert S.A.		598,544
372	*	Groupe Bruxelles Lambert S.A.		11
3,312		Heineken Holding NV		187,543
24,022	*	Immoeast AG.		258,845
59,876	e	ING Industrial Fund		133,538
433,700		iShares MSCI EAFE Index Fund		34,045,450
2,982	*	Istituto Finanziario Industriale S.p.A.		101,584
1,700		Jafco Co Ltd		56,000
29		Japan Prime Realty Investment Corp		116,815
24		Japan Real Estate Investment Corp		300,765
18		Japan Retail Fund Investment Corp		128,416
36,200		JFE Holdings, Inc		1,834,060

310

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
689		KBC Ancora	$	78,070
63,975		Kiwi Income Property Trust		65,971
27,843		Land Securities Group plc		834,691
26,708		Macquarie Communications Infrastructure Group		127,338
152,144		Macquarie Infrastructure Group		404,777
117,536		Macquarie Office Trust		144,483
99,159		Man Group plc		1,123,128
38,000		Melco International Development		57,116
829		Nationale A Portefeuille		59,669
27		Nippon Building Fund, Inc		379,448
1,361		Nobel Biocare Holding AG.		364,248
60,000		Noble Group Ltd		101,289
12		Nomura Real Estate Office Fund, Inc		113,861
59		NTT Urban Development Corp		95,591
22,000		NWS Holdings Ltd		70,254
2,462		PSP Swiss Property AG.		124,388
827		Wendel		119,630
8,875	*	Wharf Holdings Ltd		12,179
83,000		Wharf Holdings Ltd		434,831
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		44,002,064
HOTELS AND OTHER LODGING PLACES - 0.25%
12,425		Accor S.A.		993,680
26,326	*	Crown Ltd		310,903
17,208		Intercontinental Hotels Group plc		302,808
67,947		Shangri-La Asia Ltd		213,494
32,080		TUI Travel plc		187,585
26,031		Thomas Cook Group plc		146,125
28,000		United Overseas Land Ltd		87,922
		TOTAL HOTELS AND OTHER LODGING PLACES		2,242,517
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.05%
5,442		Alfa Laval AB		306,487
6,373		Alstom RGPT		1,369,696
22,000		Amada Co Ltd		193,385
2,081		Andritz AG.		126,113
10,500		ASM Pacific Technology		77,228
24,248		ASML Holding NV		767,887
39,570		Atlas Copco AB (A Shares)		590,807
24,644		Atlas Copco AB (B Shares)		336,495
85,563		Brambles Ltd		866,231
7,500		Brother Industries Ltd		96,876
67,500		Canon, Inc		3,141,924
1,937		Cargotec Corp (B Shares)		89,633
12,700		Casio Computer Co Ltd		147,673
9,871	*	Charter plc		155,917
21,100	e	Citizen Watch Co Ltd		205,683
5,000		Daifuku Co Ltd		71,163
16,500		Daikin Industries Ltd		924,585
18,000	e	Ebara Corp		61,549
14,900		Electrolux AB (Series B)		250,132
12,000		Fanuc Ltd		1,168,688
29,950		FKI plc		35,026
31,100		FUJIFILM Holdings Corp		1,316,770

311

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
9,542	*	GEA Group AG.	$	332,032
4,000		Glory Ltd		93,273
2,974		Heidelberger Druckmaschinen		100,007
6,900		Hitachi Construction Machinery Co Ltd		206,910
16,489		Husqvarna AB (B Shares)		195,806
18,123		IMI plc		142,048
70,000		Ishikawajima-Harima Heavy Industries Co Ltd		145,997
1,600		Itochu Techno-Science Corp		53,851
23,000		Japan Steel Works Ltd		339,086
3,157		KCI Konecranes Oyj		108,838
55,800		Komatsu Ltd		1,518,435
3,300		Komori Corp		73,553
4,394		Kone Oyj (Class B)		307,915
29,000		Konica Minolta Holdings, Inc		513,727
69,000		Kubota Corp		467,556
6,700		Kurita Water Industries Ltd		203,312
10,306	*	Logitech International S.A.		377,958
6,900		Makita Corp		292,763
38,531		Meggitt plc		255,219
200,000		Mitsubishi Heavy Industries Ltd		861,120
24,000		NTN Corp		208,602
4,251		OCE NV		76,944
9,099	*	Ocean RIG ASA		66,527
29,000	e*	Oki Electric Industry Co Ltd		45,428
8,000		Okuma Holdings, Inc		86,219
4,300	e	OSG Corp		46,959
2,128		Rheinmetall AG.		169,190
4,873,521		Rolls-Royce Group plc (B Shares)		10,671
9,881		Safran S.A.		202,685
57,335		Sandvik AB		986,898
7,700		Seiko Epson Corp		167,144
3,600		SMC Corp		429,235
4,816		Solarworld AG.		293,972
173		Sulzer AG.		254,423
34,000		Sumitomo Heavy Industries Ltd		313,476
6,700		THK Co Ltd		135,841
10,500		Tokyo Electron Ltd		644,766
2,000	e	Tokyo Seimitsu Co Ltd		48,964
8,251	e	Tomra Systems ASA		58,503
190,000	e	Toshiba Corp		1,423,533
12,400		Toyota Tsusho Corp		336,320
376	e*	Unaxis Holding AG.		157,172
11,285	*	Vestas Wind Systems AS		1,221,423
3,734		Wartsila Oyj (B Shares)		284,375
1,687		Wincor Nixdorf AG.		160,321
11,600		Yokogawa Electric Corp		127,510
6,620		Zardoya Otis S.A.		187,478
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		27,033,933
INSTRUMENTS AND RELATED PRODUCTS - 1.11%
6,565		AGFA-Gevaert NV		100,687
215,018		BAE Systems plc		2,131,519
2,926		Cochlear Ltd		192,431
11,684		Compagnie Generale d'Optique Essilor International S.A.		745,656

312

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
4,394		Elekta AB (B Shares)	$	73,254
18,249		Finmeccanica S.p.A.		586,212
47,140	*	Invensys plc		213,010
2,100		Keyence Corp		518,256
8,176	e	Luxottica Group S.p.A.		259,874
20,000	e	Nikon Corp		692,834
20,000		Nippon Electric Glass Co Ltd		326,903
14,000		Olympus Corp		578,973
211,000		PCCW Ltd		125,289
2,741		Phonak Holding AG.		309,653
10,563	*	Qiagen NV		228,875
53,594		Smith & Nephew plc		618,770
2,082		Swatch Group AG.		627,552
2,290		Swatch Group AG.		135,218
3,410		Synthes, Inc		423,483
10,000		Terumo Corp		526,339
3,656	*	TomTom NV		275,281
1,503	*	William Demant Holding		139,395
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		9,829,464
INSURANCE AGENTS, BROKERS AND SERVICE - 0.68%
229,002		HBOS plc		3,350,515
2,671		MLP AG.		41,980
53,535		QBE Insurance Group Ltd		1,567,190
57,194		Suncorp-Metway Ltd		849,707
15,269		Unipol Gruppo Finanziario S.p.A.		52,573
53,120		Unipol S.p.A.		168,337
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		6,030,302
INSURANCE CARRIERS - 4.35%
18,445	e	ABC Learning Centres Ltd		83,893
89,017		Aegon NV		1,573,484
21,000		Aioi Insurance Co Ltd		99,253
27,433		Alleanza Assicurazioni S.p.A		356,564
27,588		Allianz AG.		5,967,578
114,765		AMP Ltd		1,002,653
65,595		Assicurazioni Generali S.p.A.		2,973,003
159,584		Aviva plc		2,137,910
50,717		AXA Asia Pacific Holdings Ltd		328,646
97,316		AXA S.A.		3,897,079
2,728		CNP Assurances		354,935
33,552		Corp Mapfre S.A.		147,655
3,956		Fondiaria-Sai S.p.A		163,105
105,206		Friends Provident plc		342,198
105,997		Insurance Australia Group Ltd		383,450
16,380		Irish Life & Permanent plc		282,831
11,074		KBC Groep NV		1,557,552
13,561	e	Mediolanum S.p.A.		108,949
46,400		Millea Holdings, Inc		1,565,842
74,000		Mitsui Sumitomo Insurance Co Ltd		720,691
12,705		Muenchener Rueckver AG.		2,469,411
23,000		Nipponkoa Insurance Co Ltd		209,381
320,112		Old Mutual plc		1,067,975
151,191		Prudential plc		2,142,846

313

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
41,588		Resolution plc	$	589,431
195,362		Royal & Sun Alliance Insurance Group plc		576,333
10,423		SCOR		266,682
52,000		Sompo Japan Insurance, Inc		470,590
50		Sony Financial Holdings, Inc		191,111
133,149		Standard Life plc		669,906
21,979	e	Storebrand ASA		229,511
2,060		Swiss Life Holding		514,932
21,639		Swiss Reinsurance Co		1,537,656
12,350		T&D Holdings, Inc		637,869
926	e*	Topdanmark AS		133,270
1,426		TrygVesta A.S.		108,487
1,627		Wiener Staedtische Allgemeine Versicherung AG.		130,832
8,939		Zurich Financial Services AG.		2,625,286
		TOTAL INSURANCE CARRIERS		38,618,780
JUSTICE, PUBLIC ORDER AND SAFETY - 0.01%
138,729	*	PAN Fish ASA		89,167
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		89,167
LEATHER AND LEATHER PRODUCTS - 0.74%
12,091		Adidas-Salomon AG.		906,158
9,333		Continental AG.		1,214,298
14,089		Deutsche Lufthansa AG.		375,311
6,197		Henkel KGaA		316,659
4,167		Hermes International		526,625
15,066	e	LVMH Moet Hennessy Louis Vuitton S.A.		1,821,216
22,097		ThyssenKrupp AG.		1,238,972
34,500		Yue Yuen Industrial Holdings		123,887
		TOTAL LEATHER AND LEATHER PRODUCTS		6,523,126
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.09%
17,785		Brisa-Auto Estradas de Portugal S.A.		261,326
100,000		ComfortDelgro Corp Ltd		127,132
26,000	e	Keihin Electric Express Railway Co Ltd		159,889
14,000		Keisei Electric Railway Co Ltd		74,941
30,000		SMRT Corp Ltd		35,013
28,180		Stagecoach Group plc		159,871
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		818,172
LUMBER AND WOOD PRODUCTS - 0.02%
30,812	*	MFI Furniture plc		55,508
7,792		Nobia AB		69,322
3,374	*	Sonae Industria SGPS S.A.		32,804
		TOTAL LUMBER AND WOOD PRODUCTS		157,634
METAL MINING - 2.99%
66,238		Alumina Ltd		370,480
11,411		Antofagasta plc		162,865
206,085		BHP Billiton Ltd		7,263,434
141,388		BHP Billiton plc		4,351,179
17,075		Boliden AB		214,653
13,567	e	Iluka Resources Ltd		54,797
6,219		Kazakhmys plc		169,724

314

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
4,680		Lonmin Plc	$	288,145
29,399		Newcrest Mining Ltd		854,434
18,645		Orica Ltd		519,786
77,987		Oxiana Ltd		238,298
29,802	*	Paladin Resources Ltd		177,678
17,562	e	Rio Tinto Ltd		2,065,546
61,172		Rio Tinto plc		6,474,471
1,200	e	Sumitomo Titanium Corp		89,585
4,305		Vedanta Resources plc		175,333
38,752		Xstrata plc		2,738,466
29,561		Zinifex Ltd		321,854
		TOTAL METAL MINING		26,530,728
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.12%
1,300	e	Aderans Co Ltd		20,492
3,892		Amer Sports Oyj (A Shares)		105,214
8,171		Bulgari S.p.A.		114,208
94,500	*	Fosun International		88,472
32,364		Futuris Corp Ltd		61,097
11,100		Namco Bandai Holdings, Inc		173,582
3,300		Sankyo Co Ltd		153,310
1,475		Societe BIC S.A.		105,670
10,500		Yamaha Corp		240,142
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,062,187
MISCELLANEOUS RETAIL - 0.80%
2,400		Circle K Sunkus Co Ltd		35,555
32,040		Compagnie Financiere Richemont AG.		2,198,921
4,244		DCC plc		119,582
1,735		Douglas Holding AG.		100,071
4,300		EDION Corp		46,766
1,116		Folli-Follie S.A.		41,607
50,406		Home Retail Group		329,110
134,000		Hutchison Whampoa Ltd		1,520,032
32,000		Lifestyle International Holdings Ltd		86,183
17,298	*	Meinl European Land Ltd		238,490
9,857		Metro AG.		827,794
12,847		Next plc		415,310
51,100		Nippon Mining Holdings, Inc		327,508
51,182		Origin Energy Ltd		397,721
23,344		Pacific Brands Ltd		66,616
5,000		Parkson Retail Group Ltd		60,244
1,100		Ryohin Keikaku Co Ltd		66,464
4,243	e	Sanoma-WSOY Oyj		121,774
91,765		Signet Group plc		127,411
		TOTAL MISCELLANEOUS RETAIL		7,127,159
MOTION PICTURES - 0.03%
4,915	*	Premiere AG.		92,699
6,500		Toho Co Ltd		146,914
		TOTAL MOTION PICTURES		239,613
NONDEPOSITORY INSTITUTIONS - 0.36%
3,570		Acom Co Ltd		73,020

315

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
4,200		Aeon Credit Service Co Ltd	$	62,409
3,850		Aiful Corp		68,788
19,182		Cattles plc		112,260
17,030		Challenger Financial Services Group Ltd		74,616
9,500		Credit Saison Co Ltd		260,216
3,273	e	D Carnegie AB		63,554
4,868		Deutsche Postbank AG.		432,374
12,143		Hypo Real Estate Holding AG.		640,909
29,752		ICAP plc		430,266
11,600		Investor AB (B Shares)		263,832
10,968		Natixis		210,710
1,902		Perpetual Trustees Australia Ltd		110,624
3,900		Promise Co Ltd		97,051
6,530		Takefuji Corp		158,698
10,705		Tullett Prebon plc		99,994
		TOTAL NONDEPOSITORY INSTITUTIONS		3,159,321
NONMETALLIC MINERALS, EXCEPT FUELS - 0.10%
90,000		Itochu Corp		879,739
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		879,739
OIL AND GAS EXTRACTION - 1.39%
11,206		Acergy S.A.		250,233
9,475		Aker Kvaerner ASA		252,150
206,241		BG Group plc		4,721,259
1,580	*	Compagnie Generale de Geophysique S.A.		450,458
40,497	*	DET Norske Oljeselskap		75,179
12,235		Gaz de France		715,528
1,000		Idemitsu Kosan Co Ltd		106,073
51		Inpex Holdings, Inc		552,388
2,000		Japan Petroleum Exploration Co		146,265
12,574	*	Lundin Petroleum AB		131,320
7,578		Neste Oil Oyj		267,347
41,715		Norsk Hydro ASA		596,165
10,082		Petroleum Geo-Services ASA		292,906
10,384		ProSafe ASA		180,721
8,005		Saipem S.p.A.		321,033
34,330		Santos Ltd		425,625
14,703	*	SeaDrill Ltd		358,785
11,000		Singapore Petroleum Co Ltd		57,848
6,147		Technip S.A.		489,804
5,654	*	TGS Nopec Geophysical Co ASA		77,680
43,309		Tullow Oil plc		561,665
29,004		Woodside Petroleum Ltd		1,283,277
		TOTAL OIL AND GAS EXTRACTION		12,313,709
PAPER AND ALLIED PRODUCTS - 0.94%
81,019		Anglo American plc		4,967,325
1,426	e	Billerud AB		14,672
2,769		Holmen AB (B Shares)		102,822
4,400		Kokuyo Co Ltd		39,780
21,200		Lee & Man Paper Manufacturing Ltd		93,121
478		Mayr-Melnhof Karton AG.		51,814
7,332		Metso Oyj		400,169

316

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
21,744		Mondi plc	$	183,956
45		Nippon Paper Group, Inc		135,344
50,000		OJI Paper Co Ltd		245,715
23,523		PaperlinX Ltd		54,940
6,381	*	Smurfit Kappa Group plc		104,423
5,593	*	Smurfit Kappa Group plc		91,994
34,281		Stora Enso Oyj (R Shares)		513,235
32,769		Svenska Cellulosa AB (B Shares)		580,525
2,100		Uni-Charm Corp		132,901
31,259		UPM-Kymmene Oyj		631,606
		TOTAL PAPER AND ALLIED PRODUCTS		8,344,342
PERSONAL SERVICES - 0.04%
8,726		Davis Service Group plc		89,282
104,028		Rentokil Initial plc		250,358
		TOTAL PERSONAL SERVICES		339,640
PETROLEUM AND COAL PRODUCTS - 5.98%
445,586		BP plc		5,454,960
120,065		BP plc (ADR)		8,785,156
27,000		Cosmo Oil Co Ltd		101,508
160,262		ENI S.p.A.		5,869,502
5,665		Hellenic Petroleum S.A.		93,427
2,260		Motor Oil Hellas Corinth Refineries S.A.		52,207
9,768		OMV AG.		791,471
19,356		Premier Farnell plc		56,543
48,347		Repsol YPF S.A.		1,723,321
223,090		Royal Dutch Shell plc (A Shares)		9,374,612
169,483		Royal Dutch Shell plc (B Shares)		7,051,108
10,600		Showa Shell Sekiyu KK		117,657
77,900		Statoil ASA		2,424,579
18,000		TonenGeneral Sekiyu KK		177,720
132,365		Total S.A.		10,998,001
		TOTAL PETROLEUM AND COAL PRODUCTS		53,071,772
PRIMARY METAL INDUSTRIES - 1.69%
8,682		Acerinox S.A.		213,632
55,616	e	Arcelor		4,325,065
622		Bekaert S.A.		83,664
42,850		BlueScope Steel Ltd		363,075
17,000		Daido Steel Co Ltd		127,673
14,000		DOWA HOLDINGS CO Ltd		98,250
8,000	m,v*	Dowa Mining Co Ltd		72
18,000		Fujikura Ltd		91,519
35,000		Furukawa Electric Co Ltd		135,971
1,272		Hoganas AB (Class B)		26,913
12,472		Johnson Matthey plc		466,992
167,000		Kobe Steel Ltd		544,135
65,000		Mitsubishi Materials Corp		278,118
35,000		Mitsui Mining & Smelting Co Ltd		140,357
26,000		Nippon Light Metal Co Ltd		45,383
360,000		Nippon Steel Corp		2,229,960
49,000	e	Nisshin Steel Co Ltd		172,376
43,713		OneSteel Ltd		236,050

317

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
6,982		Outokumpu Oyj	$	216,513
2,359		Salzgitter AG.		351,969
23,142		SKF AB (B Shares)		392,073
46,100		Sumitomo Electric Industries Ltd		733,292
252,000		Sumitomo Metal Industries Ltd		1,170,729
34,000		Sumitomo Metal Mining Co Ltd		581,301
1,500		Toho Titanium Co Ltd		45,115
5,800		Tokyo Steel Manufacturing Co Ltd		64,690
1,422		Umicore		353,437
2,908		Vallourec		787,193
5,647		Viohalco S.A.		82,067
6,971		Voestalpine AG.		503,993
2,200		Yamato Kogyo Co Ltd		90,588
		TOTAL PRIMARY METAL INDUSTRIES		14,952,165
PRINTING AND PUBLISHING - 0.92%
5,391		Arnoldo Mondadori Editore S.p.A.		44,296
37,000		Dai Nippon Printing Co Ltd		544,161
17,573		Daily Mail & General Trust		173,768
7,695		De La Rue plc		149,577
12,762		Emap plc		233,718
9,364		Eniro AB		84,031
9,364	m,v*	Eniro AB		3,332
69,567		John Fairfax Holdings Ltd		285,869
49,336		Orkla ASA		956,309
7,217		PagesJaunes Groupe S.A.		144,663
47,847		Pearson plc		697,189
42,580		Reed Elsevier NV		849,770
75,975	*	Reed Elsevier plc		1,027,650
77,085		Reuters Group plc		977,449
2,726		Schibsted ASA		118,230
89,000		Singapore Press Holdings Ltd		278,231
34,000	e	Toppan Printing Co Ltd		334,476
14,880		Trinity Mirror plc		103,226
15,022		United Business Media plc		194,219
17,379		Wolters Kluwer NV		571,195
44,912		Yell Group plc		358,502
		TOTAL PRINTING AND PUBLISHING		8,129,861
RAILROAD TRANSPORTATION - 0.48%
31,607		Asciano Group		194,267
100		Central Japan Railway Co		853,064
211		East Japan Railway Co		1,741,413
24,919		Firstgroup plc		404,272
72,000		Hankyu Hanshin Holdings, Inc		311,292
38,000	e	Odakyu Electric Railway Co Ltd		241,848
105		West Japan Railway Co		521,640
		TOTAL RAILROAD TRANSPORTATION		4,267,796
REAL ESTATE - 2.44%
3,000		Aeon Mall Co Ltd		79,219
41,500		Allgreen Properties Ltd		42,957
50,275		Ascendas Real Estate Investment Trust		85,919
6,552		Bovis Homes Group plc		80,341

318

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
30,870		British Land Co plc	$	580,702
13,969		Brixton plc		81,960
96,000		CapitaLand Ltd		418,160
7,908		Castellum AB		82,283
48,570	e	Centro Properties Group		43,073
65,289		Centro Retail Group		54,461
97,000		Cheung Kong Holdings Ltd		1,793,854
30,000		Chinese Estates Holdings Ltd		54,480
31,400		City Developments Ltd		309,757
498		Cofinimmo		93,721
2,171		Corio NV		175,846
165,206		DB RREEF Trust		290,118
7,090		Fabege AB		72,675
671		Gecina S.A.		105,285
138,000	*	Genting International plc		65,671
16,701		Hammerson plc		340,762
26,000		Hang Lung Group Ltd		142,047
122,000		Hang Lung Properties Ltd		552,312
16,000		Henderson Investment Ltd		3,468
69,344		Henderson Land Development Co Ltd		653,207
38,000		Hopewell Holdings		175,443
33,384		Hysan Development Co Ltd		95,262
859		ICADE		128,115
26,275		IMMOFINANZ Immobilien Anlagen AG.		266,987
5,466		IVG Immobilien AG.		188,441
19,000		Keppel Land Ltd		96,092
36,623		Kerry Properties Ltd		294,256
4,069		Klepierre		208,040
6,988		Kungsleden AB		77,846
8,203		Leighton Holdings Ltd		440,801
7,600		Leopalace21 Corp		204,771
14,970		Liberty International plc		320,939
126,000		Link Real Estate Investment Trust		272,768
85,475		Macquarie Goodman Group		367,000
58,632		Mirvac Group		308,890
73,000		Mitsubishi Estate Co Ltd		1,761,044
52,000		Mitsui Fudosan Co Ltd		1,131,093
151,410		New World Development Ltd		536,908
2,600		Nomura Real Estate Holdings, Inc		62,838
5,710		ORIX Corp		975,732
23,504		Segro plc		219,900
100,000		Shui On Land Ltd		116,706
7,000		Singapore Land Ltd		38,904
81,910		Sino Land Co		290,983
88,871		Stockland Trust Group		657,038
24,000		Sumitomo Realty & Development Co Ltd		594,012
86,000		Sun Hung Kai Properties Ltd		1,826,455
16,000		Tokyo Tatemono Co Ltd		151,528
26,000		Tokyu Land Corp		223,891
4,397		Unibail		963,782
9,600		Urban Corp		128,470
1,059		Wereldhave NV		115,690
107,244		Westfield Group		1,977,473
23,000		Wheelock & Co Ltd		70,793

319

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
1,089		Wihlborgs Fastigheter AB	$	19,503
26,950		Wing Tai Holdings Ltd		50,551
17,000		Yanlord Land Group Ltd		39,209
		TOTAL REAL ESTATE		21,600,432
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.75%
8,357		Ansell Ltd		88,568
44,618		Bayer AG.		4,079,073
36,500		Bridgestone Corp		649,528
25,000		Denki Kagaku Kogyo KK		108,983
8,768		Michelin (C.G.D.E.) (Class B)		1,006,313
38,000		Mitsui Chemicals, Inc		249,671
6,174		Nokian Renkaat Oyj		217,092
168,750		Pirelli & C S.p.A.		185,781
2,764		Uponor Oyj		69,588
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		6,654,597
SECURITY AND COMMODITY BROKERS - 1.80%
10,281		Australian Stock Exchange Ltd		546,146
13,632		Babcock & Brown Ltd		324,973
7,082		Close Brothers Group plc		133,926
64,389		Credit Suisse Group		3,873,065
82,000		Daiwa Securities Group, Inc		745,755
12,256		Deutsche Boerse AG.		2,432,493
70		E*Trade Securities Co Ltd		65,166
3,030		Hellenic Exchanges S.A.		106,320
67,500		Hong Kong Exchanges and Clearing Ltd		1,914,869
397,439		Legal & General Group plc		1,033,234
8,952		London Stock Exchange Group plc		352,656
16,598	e	Macquarie Group Ltd		1,110,527
6,400		Matsui Securities Co Ltd		50,700
24,000	e	Nikko Cordial Corp		357,051
109,900		Nomura Holdings, Inc		1,864,213
4,855		OMX AB		196,432
497		SBI Holdings, Inc		135,911
6,072		Schroders plc		157,372
27,000		Shinko Securities Co Ltd		111,659
48,000		Singapore Exchange Ltd		447,504
		TOTAL SECURITY AND COMMODITY BROKERS		15,959,972
SOCIAL SERVICES - 0.03%
9,896		Vedior NV		249,147
		TOTAL SOCIAL SERVICES		249,147
SPECIAL TRADE CONTRACTORS - 0.01%
7,000		COMSYS Holdings Corp		57,521
7,000		Kinden Corp		55,015
		TOTAL SPECIAL TRADE CONTRACTORS		112,536
STONE, CLAY, AND GLASS PRODUCTS - 0.93%
59,000	e	Asahi Glass Co Ltd		791,666
32,131		Boral Ltd		172,661
10,000		Central Glass Co Ltd		37,954
12,053		Cimpor Cimentos de Portugal S.A.		105,733

320

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
19,731		Compagnie de Saint-Gobain	$	1,860,392
12,512		Cookson Group plc		173,598
6,372		CRH plc		222,191
2,955		FLSmidth & Co AS		302,450
565		HeidelbergCement AG.		87,562
12,785		Holcim Ltd		1,369,801
3,789		Italcementi S.p.A.		81,046
1,579		Italcementi S.p.A.		24,702
23,904		James Hardie Industries NV		135,378
9,006		Lafarge S.A.		1,639,322
16,000		NGK Insulators Ltd		433,961
36,000		Nippon Sheet Glass Co Ltd		184,004
699		Pargesa Holding S.A.		78,102
1,281	*	RHI AG.		52,441
21,000		Sumitomo Osaka Cement Co Ltd		40,227
48,000		Taiheiyo Cement Corp		114,720
15,000	e	Toto Ltd		119,098
4,583		Wienerberger AG.		254,153
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		8,281,162
TOBACCO PRODUCTS - 0.89%
93,603		British American Tobacco plc		3,661,316
41,416		Imperial Tobacco Group plc		2,235,851
279		Japan Tobacco, Inc		1,668,281
15,133		Swedish Match AB		361,748
		TOTAL TOBACCO PRODUCTS		7,927,196
TRANSPORTATION BY AIR - 0.49%
2,045		Aeroports de Paris		209,293
7,735		Air France-KLM		271,981
38,000		All Nippon Airways Co Ltd		140,482
56,786		Auckland International Airport Ltd		127,166
21,959		BBA Aviation plc		89,718
34,164	*	British Airways plc		210,652
82,000		Cathay Pacific Airways Ltd		214,533
575		Flughafen Wien AG.		66,414
761		Fraport AG. Frankfurt Airport Services Worldwide		59,937
3,200		Hong Kong Aircraft Engineerg		87,085
25,139		Iberia Lineas Aereas de Espana		110,264
56,000	*	Japan Airlines Corp		127,825
36,546		Macquarie Airports		129,961
60,116		Qantas Airways Ltd		287,149
20,424	*	Ryanair Holdings plc		138,256
55,205		SABMiller plc		1,556,061
3,865	*	SAS AB		49,634
34,933		Singapore Airlines Ltd		421,783
		TOTAL TRANSPORTATION BY AIR		4,298,194
TRANSPORTATION EQUIPMENT - 5.14%
10,960		Bayerische Motoren Werke AG.		678,620
67,074		Cobham plc		279,052
44,000		Cosco Corp Singapore Ltd		176,679
4,000		Daihatsu Motor Co Ltd		37,631
57,237		DaimlerChrysler AG.		5,564,952

321

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
1,054		DaimlerChrysler AG.	$	100,794
31,300		Denso Corp		1,283,212
131		D'ieteren S.A.		47,116
19,936		European Aeronautic Defence and Space Co		636,289
43,322		Fiat S.p.A.		1,121,101
41,679		GKN plc		233,965
14,000		Hino Motors Ltd		91,107
96,600		Honda Motor Co Ltd		3,242,626
41,000		Isuzu Motors Ltd		186,439
8,009		Jardine Cycle & Carriage Ltd		121,294
11,800		JTEKT Corp		212,308
81,000		Kawasaki Heavy Industries Ltd		239,995
67,000		Keppel Corp Ltd		605,092
7,565		Lagardere S.C.A.		567,289
6,889		MAN AG.		1,146,203
24,000		Mazda Motor Corp		119,876
104,000	e*	Mitsubishi Motors Corp		175,948
40,000		Mitsui Engineering & Shipbuilding Co Ltd		156,112
6,000		NHK Spring Co Ltd		55,266
27,000		NSK Ltd		281,806
9,023		Peugeot S.A.		684,010
11,343		Renault S.A.		1,608,820
245		Rieter Holding AG.		108,201
110,443		Rolls-Royce Group plc		1,200,372
4,072,885	m,v*	Rolls-Royce Group plc		8,108
21,404		Scania AB (B Shares)		509,998
50,600		SembCorp Marine Ltd		142,015
4,000		Shimano, Inc		145,012
52,272		Siemens AG.		8,319,561
79,000		Singapore Technologies Engineering Ltd		205,808
5,240		Thales S.A.		312,192
2,800		Tokai Rika Co Ltd		87,723
3,300		Toyoda Gosei Co Ltd		117,272
11,400		Toyota Industries Corp		466,347
167,200		Toyota Motor Corp		9,039,860
4,339		Trelleborg AB (B Shares)		90,966
13,803		Volkswagen AG.		3,150,209
28,340		Volvo AB (A Shares)		473,561
65,960		Volvo AB (B Shares)		1,107,294
11,800		Yamaha Motor Co Ltd		285,718
2,089		Zodiac S.A.		133,592
		TOTAL TRANSPORTATION EQUIPMENT		45,557,411
TRANSPORTATION SERVICES - 0.29%
15,471		Altadis S.A.		1,124,411
11,719		Arriva plc		185,457
140		Kuoni Reisen Holding		72,959
84,611		MTR Corp		311,429
7,745		National Express Group plc		191,482
1,768		Stolt-Nielsen S.A.		52,748
31,775		Toll Holdings Ltd		319,455
12,265	*	TUI AG.		343,041
		TOTAL TRANSPORTATION SERVICES		2,600,982

322

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
TRUCKING AND WAREHOUSING - 0.42%
47,479		Deutsche Post AG.	$	1,631,989
11,478		DSV AS		251,501
16,000		Kamigumi Co Ltd		115,866
5,000		Mitsubishi Logistics Corp		56,125
48,000		Nippon Express Co Ltd		247,057
10,000		Seino Holdings Corp		68,030
23,820		TNT NV		983,837
24,000		Yamato Transport Co Ltd		346,095
		TOTAL TRUCKING AND WAREHOUSING		3,700,500
WATER TRANSPORTATION - 0.45%
16		A P Moller - Maersk AS (Class A)		169,724
65		AP Moller - Maersk AS (Class B)		693,327
9,847		Carnival plc		434,957
719		Compagnie Maritime Belge S.A.		62,285
1,498		D/S Torm AS		52,576
1,175		Euronav NV		41,470
2,724	e	Frontline Ltd		130,936
36,000		Kawasaki Kisen Kaisha Ltd		353,829
3,103		Kuehne & Nagel International AG.		297,377
67,000		Mitsui OSK Lines Ltd		855,230
23,000		Neptune Orient Lines Ltd		62,475
68,000		Nippon Yusen Kabushiki Kaisha		540,518
11,300		Orient Overseas International Ltd		83,619
70,000		Pacific Basin Shipping Ltd		112,935
68,000		Shun TAK Holdings Ltd		106,918
		TOTAL WATER TRANSPORTATION		3,998,176
WHOLESALE TRADE-DURABLE GOODS - 1.26%
18,278		Assa Abloy AB (Class B)		366,934
1,600		Autobacs Seven Co Ltd		32,440
69,436	*	Boart Longyear Group		143,275
7,426		Buhrmann NV		58,086
20,069		Bunzl plc		283,441
3,800		Canon Marketing Japan, Inc		70,752
23,391		Electrocomponents plc		97,082
77,160	*	Fortescue Metals Group Ltd		508,126
34,914	e	Hagemeyer NV		238,896
6,775		Kingspan Group plc		102,521
83,200		Mitsubishi Corp		2,278,942
139,800		Nissan Motor Co Ltd		1,539,220
7,262	*	Prysmian S.p.A.		179,328
4,967		Rautaruukki Oyj		215,319
355	e	Rockwool International AS (B Shares)		82,693
13,538		Schneider Electric S.A.		1,834,440
16,143	*	Securitas Direct AB (B Shares)		64,690
16,143		Securitas Systems AB (B Shares)		57,447
65,400		Sumitomo Corp		929,059
9,027	*	Wesfarmers Ltd		322,594
33,230		Wesfarmers Ltd		1,181,690
39,262		Wolseley plc		579,911
		TOTAL WHOLESALE TRADE-DURABLE GOODS		11,166,886

323

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
WHOLESALE TRADE-NONDURABLE GOODS - 0.95%
3,728		Altana AG.	$	90,751
1,383		Axfood AB		55,742
9,276	e	Billabong International Ltd		120,706
2,573		Casino Guichard Perrachon S.A.		279,845
5,042		Celesio AG.		313,296
62,500		Esprit Holdings Ltd		929,797
116,239		Foster's Group Ltd		668,515
135,300		Li & Fung Ltd		546,586
98,000		Marubeni Corp		695,645
76,000		Nippon Oil Corp		618,395
2,078		Oriflame Cosmetics S.A.		132,785
3,500		Suzuken Co Ltd		125,006
105,397		Unilever NV		3,875,513
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		8,452,582
		TOTAL COMMON STOCKS		884,751,161
		(Cost $708,686,526)
PREFERRED STOCKS - 0.15%
COMMUNICATIONS - 0.01%
4,220		ProSiebenSat.1 Media AG.		101,124
		TOTAL COMMUNICATIONS		101,124
INSTRUMENTS AND RELATED PRODUCTS - 0.02%
2,138		Fresenius SE		177,862
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		177,862
TRANSPORTATION EQUIPMENT - 0.12%
532		Porsche AG.		1,077,962
		TOTAL TRANSPORTATION EQUIPMENT		1,077,962
		TOTAL PREFERRED STOCKS		1,356,948
		(Cost $906,956)
PRINCIPAL		ISSUER
SHORT TERM INVESTMENTS - 3.38%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.77%
$        6,860,000		Federal Home Loan Bank (FHLB) 0.000%, 01/02/08		6,860,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		6,860,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.61%
23,124,796		State Street Navigator Securities Lending Prime Portfolio		23,124,796
		INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		23,124,796
		TOTAL SHORT-TERM INVESTMENTS		29,984,796
		(Cost $29,984,177)
		TOTAL PORTFOLIO - 103.28%		916,092,905
		(Cost $739,577,659)

324

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
				VALUE
		OTHER ASSETS & LIABILITIES, NET - (3.28)%	$	(29,067,734	)
		NET ASSETS - 100.00%	$	887,025,171
		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.
		At December 31, 2007, the unrealized appreciation on investments was $176,515,246, consisting of
		gross unrealized appreciation of $194,844,529 and gross unrealized depreciation of $18,329,283.

325

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SUMMARY OF MARKET VALUES BY COUNTRY
INTERNATIONAL EQUITY INDEX FUND (unaudited)
December 31, 2007
			% OF
			MARKET
COUNTRY	VALUE		VALUE
DOMESTIC
UNITED STATES OF AMERICA	$	64,131,040	7.00	%
TOTAL DOMESTIC		64,131,040	7.00
FOREIGN
AUSTRALIA		54,836,908	5.99
AUSTRIA		4,812,671	0.53
BELGIUM		10,442,458	1.14
DENMARK		7,864,432	0.86
FINLAND		15,785,673	1.72
FRANCE		91,343,110	9.97
GERMANY		80,064,334	8.74
GREECE		6,804,252	0.74
HONG KONG		20,652,404	2.25
IRELAND		5,352,778	0.58
ITALY		33,576,896	3.67
JAPAN		169,353,711	18.49
LUXEMBORG		441,750	0.05
NETHERLANDS		24,141,832	2.64
NEW ZEALAND		1,175,827	0.13
NORWAY		9,191,947	1.00
PORTUGAL		3,099,162	0.34
SINGAPORE		9,472,802	1.03
SPAIN		37,196,276	4.06
SWEDEN		19,511,301	2.13
SWITZERLAND		57,019,551	6.22
UNITED KINGDOM		189,821,790	20.72
TOTAL FOREIGN		851,961,865	93.00
TOTAL PORTFOLIO	$	916,092,905	100.00	%

326

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
ENHANCED INTERNATIONAL EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.98%
AMUSEMENT AND RECREATION SERVICES - 0.66%
1,781		Aristocrat Leisure Ltd	$	17,593
200		Nintendo Co Ltd		119,769
1,029		Paddy Power plc		33,865
5		Round One Corp		9,981
959		TABCORP Holdings Ltd		12,446
		TOTAL AMUSEMENT AND RECREATION SERVICES		193,654
APPAREL AND ACCESSORY STORES - 0.12%
1,400		Aoyama Trading Co Ltd		36,468
		TOTAL APPAREL AND ACCESSORY STORES		36,468
AUTO REPAIR, SERVICES AND PARKING - 0.16%
1,100		Aisin Seiki Co Ltd		45,885
		TOTAL AUTO REPAIR, SERVICES AND PARKING		45,885
BUSINESS SERVICES - 0.97%
500		CSK Holdings Corp		16,202
10		eAccess Ltd		6,221
400	*	Elpida Memory, Inc		13,892
11,791		Hays plc		27,109
1,775		Indra Sistemas S.A.		48,218
33	*	KK DaVinci Advisors		29,244
7,774		LogicaCMG plc		18,222
8,000		NEC Corp		36,880
800		Nomura Research Institute Ltd		26,353
900		Softbank Corp		18,610
3,000		Tencent Holdings Ltd		22,719
500		Trend Micro, Inc		17,903
		TOTAL BUSINESS SERVICES		281,573
CHEMICALS AND ALLIED PRODUCTS - 8.89%
7,000		Asahi Kasei Corp		46,619
2,000		Astellas Pharma, Inc		87,186
4,700		AstraZeneca plc (ADR)		201,254
1,894		BASF AG.		280,817
178		Christian Dior S.A.		23,396
1,132		CSL Ltd		36,140
16,000		Dainippon Ink and Chemicals, Inc		80,204
9,666		GlaxoSmithKline plc		246,094
1,000		Kao Corp		30,077
3,500		Kingboard Chemical Holdings Ltd		20,828
4,000		Kuraray Co Ltd		48,660
942		Linde AG.		124,572
1,000		Mitsubishi Gas Chemical Co, Inc		9,847
7,000		Mitsui & Co Ltd		148,190

327

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SHARES	COMPANY		VALUE
3,460	Novartis AG.	$	189,786
2,350	Novo Nordisk AS (Class B)		154,361
728	Reckitt Benckiser Group plc		42,228
1,757	Roche Holding AG.		303,554
2,677	Sanofi-Aventis		246,498
798	Shire plc		18,252
1,347	SSL International plc		14,345
3,000	Takeda Pharmaceutical Co Ltd		176,431
7,000	Tosoh Corp		30,139
109	Wacker Chemie AG.		31,506
	TOTAL CHEMICALS AND ALLIED PRODUCTS		2,590,984
COMMUNICATIONS - 6.65%
11,361	BT Group plc		61,683
295	Deutsche Telekom AG.		6,478
5,983	France Telecom S.A.		215,362
1,600	Gestevision Telecinco S.A.		40,961
500	Hikari Tsushin, Inc		17,097
15,000	Hutchison Telecommunications International Ltd		22,546
5	KDDI Corp		37,238
23	Nippon Telegraph & Telephone Corp		115,088
13	NTT DoCoMo, Inc		21,644
10,958	Royal KPN NV		199,303
12,845	Telefonica S.A.		417,292
18,842	Telstra Corp Ltd		77,592
5,244	Vivendi Universal S.A.		240,590
12,500	Vodafone Group plc (ADR)		466,500
	TOTAL COMMUNICATIONS		1,939,374
DEPOSITORY INSTITUTIONS - 16.37%
3,645	Alpha Bank S.A.		132,697
1,854	Anglo Irish Bank Corp plc		29,654
4,552	Australia & New Zealand Banking Group Ltd		109,754
1,203	Banca Intesa S.p.A.		9,515
17,771	Banca Intesa S.p.A.		129,846
5,295	Banco Bilbao Vizcaya Argentaria S.A.		129,748
19,142	Banco Santander Central Hispano S.A.		413,921
1,000	Bank of Kyoto Ltd		11,869
3,897	Barclays plc		39,097
1,602	BNP Paribas		173,838
27,000	BOC Hong Kong Holdings Ltd		75,660
10,000	Chiba Bank Ltd		81,457
1,551	Commonwealth Bank of Australia		80,486
620	Deutsche Bank AG.		81,039
5,141	Dexia		129,508
9,700	DNB NOR Holding ASA		148,273
3,657	Fortis		96,294
2,000	Hachijuni Bank Ltd		13,499
4,800	Hang Seng Bank Ltd		99,048
31,432	HSBC Holdings plc		526,827
6,804	ING Groep NV		266,103
14,019	Lloyds TSB Group plc		131,717
10,400	Mitsubishi UFJ Financial Group, Inc		97,469
11,000	Mitsui Trust Holdings, Inc		84,384

328

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SHARES		COMPANY		VALUE
11		Mizuho Financial Group. Inc	$	52,580
33,000		Mizuho Trust & Banking Co Ltd		61,442
1,819		National Australia Bank Ltd		60,357
13,000		Oversea-Chinese Banking Corp		74,869
137		Raiffeisen International Bank Holding AG.		20,751
31,801		Royal Bank of Scotland Group plc		281,066
2,000		Shizuoka Bank Ltd		21,967
1,203		Societe Generale		174,003
2,793		Standard Chartered plc		102,522
16		Sumitomo Mitsui Financial Group, Inc		119,876
5,811		UBS A.G.		268,954
34,775		UniCredito Italiano S.p.A		288,787
6,158		Westpac Banking Corp		150,964
		TOTAL DEPOSITORY INSTITUTIONS		4,769,841
ELECTRIC, GAS, AND SANITARY SERVICES - 5.25%
901		Caltex Australia Ltd		15,324
24,053		Centrica plc		171,769
3,900		Chubu Electric Power Co, Inc		101,763
3,500		CLP Holdings Ltd		23,902
1,886		E.ON AG.		401,454
500		Electric Power Development Co		18,664
526		Electricite de France		62,661
4,291		Enel S.p.A.		51,036
346		Fortum Oyj		15,586
11,000		Hong Kong & China Gas Ltd		33,716
658		Iberdrola S.A.		10,005
1,800		Kansai Electric Power Co, Inc		41,973
3,738		National Grid plc		62,057
22,000		Osaka Gas Co Ltd		86,846
1,876		RWE AG.		263,309
2,260		Scottish & Southern Energy plc		73,690
1,213		Suez S.A.		82,590
7,555		Vector Ltd		12,791
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		1,529,136
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 4.57%
1,604		ABB Ltd		46,215
421	*	CSR plc		5,028
12,000		Hitachi Ltd		89,478
300		Hoya Corp		9,560
377		Koninklijke Philips Electronics NV		16,271
300		Kyocera Corp		26,612
1,024		Legrand S.A.		34,958
4,000		Matsushita Electric Industrial Co Ltd		82,890
10,000		Mitsubishi Electric Corp		104,552
600		Mitsumi Electric Co Ltd		20,409
200		Murata Manufacturing Co Ltd		11,601
1,000	*	NEC Electronics Corp		23,855
400		Nitto Denko Corp		21,197
11,307		Nokia Oyj		438,413
1,200		Omron Corp		28,626
2,000		Ricoh Co Ltd		36,969
3,000		Sony Corp		166,495

329

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SHARES	COMPANY		VALUE
1,400	Tandberg ASA	$	29,264
34,711	Terna Rete Elettrica Nazionale S.p.A.		139,941
	TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		1,332,334
ENGINEERING AND MANAGEMENT SERVICES - 0.59%
1,855	Cap Gemini S.A.		116,620
560	Fugro NV		43,230
278	WorleyParsons Ltd		12,693
	TOTAL ENGINEERING AND MANAGEMENT SERVICES		172,543
FOOD AND KINDRED PRODUCTS - 4.19%
2,000	Ajinomoto Co, Inc		22,754
3,000	Asahi Breweries Ltd		50,808
3,069	CSR Ltd		8,354
2,267	Groupe Danone		203,508
2,148	Lion Nathan Ltd		18,125
1,090	Nestle S.A.		500,640
4,100	Q.P. Corp		42,719
5,053	Sampo Oyj (A Shares)		133,570
3,500	Swire Pacific Ltd (Class A)		48,253
2,000	Toyo Suisan Kaisha Ltd		36,342
4,169	Unilever plc		156,848
	TOTAL FOOD AND KINDRED PRODUCTS		1,221,921
FOOD STORES - 2.36%
700	FamilyMart Co Ltd		21,868
18,991	Goodman Fielder Ltd		31,599
15,776	Jeronimo Martins SGPS S.A.		124,553
2,900	Seven & I Holdings Co Ltd		84,626
30,796	Sonae SPGS S.A.		89,150
12,029	Tesco plc		114,277
18,741	WM Morrison Supermarkets plc		120,125
3,452	Woolworths Ltd		103,025
	TOTAL FOOD STORES		689,223
FURNITURE AND HOME FURNISHINGS STORES - 0.11%
290	Yamada Denki Co Ltd		33,150
	TOTAL FURNITURE AND HOME FURNISHINGS STORES		33,150
GENERAL BUILDING CONTRACTORS - 0.72%
336	Berkeley Group Holdings plc		9,029
1,564	Bilfinger Berger AG.		120,689
1,883	Fletcher Building Ltd		16,664
4,111	Lend Lease Corp Ltd		62,447
	TOTAL GENERAL BUILDING CONTRACTORS		208,829
GENERAL MERCHANDISE STORES - 0.18%
1,691	Marks & Spencer Group plc		18,850
201	PPR		32,326
	TOTAL GENERAL MERCHANDISE STORES		51,176
HEALTH SERVICES - 0.05%
973	Sonic Healthcare Ltd		14,285
	TOTAL HEALTH SERVICES		14,285

330

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SHARES		COMPANY		VALUE
HEAVY CONSTRUCTION, EXCEPT BUILDING - 1.07%
2,441		ACS Actividades Cons y Servicios S.A.	$	145,074
1,881		Bouygues S.A.		156,757
152		Vinci S.A.		11,256
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		313,087
HOLDING AND OTHER INVESTMENT OFFICES - 1.58%
5,309		3i Group plc		105,998
16,000		CapitaCommercial Trust		27,121
8,225		GPT Group		29,177
2,093		Heineken Holding NV		118,517
2,565	*	Istituto Finanziario Industriale S.p.A.		87,379
1,200		JFE Holdings, Inc		60,798
221		Wendel		31,969
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		460,959
HOTELS AND OTHER LODGING PLACES - 0.90%
1,776		Accor S.A.		142,034
21,353		Thomas Cook Group plc		119,865
		TOTAL HOTELS AND OTHER LODGING PLACES		261,899
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.08%
725		Alstom RGPT		155,818
6,000		Amada Co Ltd		52,741
578		Andritz AG.		35,028
2,222		ASML Holding NV		70,366
1,577		Brambles Ltd		15,965
2,000		Canon, Inc		93,094
200		Daikin Industries Ltd		11,207
1,500		FUJIFILM Holdings Corp		63,510
6,000		Ishikawajima-Harima Heavy Industries Co Ltd		12,514
384		KCI Konecranes Oyj		13,238
3,000		Komatsu Ltd		81,636
4,000		Konica Minolta Holdings, Inc		70,859
700		Makita Corp		29,701
5,400		Sandvik AB		92,949
500		Tokyo Electron Ltd		30,703
9,000		Toshiba Corp		67,431
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		896,760
INSTRUMENTS AND RELATED PRODUCTS - 1.17%
19,706		BAE Systems plc		195,349
1,089		Compagnie Generale d'Optique Essilor International S.A.		69,498
1,000		Nikon Corp		34,642
1,000		Olympus Corp		41,355
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		340,844
INSURANCE AGENTS, BROKERS AND SERVICE - 0.38%
819		HBOS plc		11,983
3,377		QBE Insurance Group Ltd		98,859
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		110,842

331

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SHARES	COMPANY		VALUE
INSURANCE CARRIERS - 4.15%
5,292	ABC Learning Centres Ltd	$	24,070
384	Allianz AG.		83,063
5,980	AMP Ltd		52,245
8,112	Aviva plc		108,674
364	AXA S.A.		14,577
462	CNP Assurances		60,110
881	Fondiaria-Sai S.p.A		36,323
929	Muenchener Rueckver AG.		180,565
46,434	Old Mutual plc		154,915
13,376	Royal & Sun Alliance Insurance Group plc		39,460
7,000	Sompo Japan Insurance, Inc		63,349
3	Sony Financial Holdings, Inc		11,467
392	Swiss Reinsurance Co		27,855
1,050	T&D Holdings, Inc		54,232
1,150	TrygVesta A.S.		87,489
721	Zurich Financial Services AG.		211,750
	TOTAL INSURANCE CARRIERS		1,210,144
LEATHER AND LEATHER PRODUCTS - 0.81%
3,386	Deutsche Lufthansa AG.		90,198
2,580	ThyssenKrupp AG.		144,660
	TOTAL LEATHER AND LEATHER PRODUCTS		234,858
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.05%
2,534	Stagecoach Group plc		14,376
	TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		14,376
METAL MINING - 3.48%
8,702	Antofagasta plc		124,200
8,762	BHP Billiton Ltd		308,816
5,249	BHP Billiton plc		161,536
1,004	Kazakhmys plc		27,400
907	Newcrest Mining Ltd		26,361
188	Rio Tinto Ltd		22,112
1,267	Rio Tinto plc		134,100
2,967	Xstrata plc		209,667
	TOTAL METAL MINING		1,014,192
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.27%
3,500	Yamaha Corp		80,047
	TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		80,047
MISCELLANEOUS RETAIL - 1.22%
2,681	Compagnie Financiere Richemont AG.		183,998
8,683	Home Retail Group		56,693
2,000	Hutchison Whampoa Ltd		22,687
2,200	Next plc		71,120
1,500	Nippon Mining Holdings, Inc		9,614
1,000	Parkson Retail Group Ltd		12,049
	TOTAL MISCELLANEOUS RETAIL		356,161
NONDEPOSITORY INSTITUTIONS - 0.96%
1,400	Aeon Credit Service Co Ltd		20,803
2,709	Hypo Real Estate Holding AG.		142,981

332

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SHARES	COMPANY		VALUE
4,000	Investor AB (B Shares)	$	90,977
970	Takefuji Corp		23,574
	TOTAL NONDEPOSITORY INSTITUTIONS		278,335
NONMETALLIC MINERALS, EXCEPT FUELS - 0.30%
9,000	Itochu Corp		87,974
	TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		87,974
OIL AND GAS EXTRACTION - 1.20%
6,659	BG Group plc		152,437
710	Gaz de France		41,522
1	Inpex Holdings, Inc		10,831
750	Petroleum Geo-Services ASA		21,789
1,378	Saipem S.p.A.		55,263
4,554	Santos Ltd		56,461
2,000	Singapore Petroleum Co Ltd		10,518
	TOTAL OIL AND GAS EXTRACTION		348,821
PAPER AND ALLIED PRODUCTS - 0.37%
1,251	Anglo American plc		76,699
6,800	Lee & Man Paper Manufacturing Ltd		29,869
	TOTAL PAPER AND ALLIED PRODUCTS		106,568
PETROLEUM AND COAL PRODUCTS - 6.12%
6,900	BP plc (ADR)		504,873
2,940	ENI S.p.A.		107,676
5,041	Royal Dutch Shell plc (A Shares)		211,831
8,797	Royal Dutch Shell plc (B Shares)		365,986
6,250	Statoil ASA		194,527
4,791	Total S.A.		398,076
	TOTAL PETROLEUM AND COAL PRODUCTS		1,782,969
PRIMARY METAL INDUSTRIES - 2.13%
284	Arcelor		22,086
8,460	BlueScope Steel Ltd		71,683
6,000	Furukawa Electric Co Ltd		23,309
17,000	Mitsubishi Materials Corp		72,739
15,000	Nippon Steel Corp		92,915
6,000	Nisshin Steel Co Ltd		21,107
246	Salzgitter AG.		36,704
6,600	SKF AB (B Shares)		111,818
1,500	Sumitomo Electric Industries Ltd		23,860
1,000	Sumitomo Metal Industries Ltd		4,646
1,948	Voestalpine AG.		140,837
	TOTAL PRIMARY METAL INDUSTRIES		621,704
PRINTING AND PUBLISHING - 1.05%
1,000	Dai Nippon Printing Co Ltd		14,707
4,321	De La Rue plc		83,993
11,000	Singapore Press Holdings Ltd		34,388
4,734	United Business Media plc		61,206
14,066	Yell Group plc		112,279
	TOTAL PRINTING AND PUBLISHING		306,573

333

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SHARES	COMPANY		VALUE
RAILROAD TRANSPORTATION - 0.32%
10	Central Japan Railway Co	$	85,306
1	East Japan Railway Co		8,253
	TOTAL RAILROAD TRANSPORTATION		93,559
REAL ESTATE - 2.39%
7,593	Brixton plc		44,550
3,726	Centro Properties Group		3,304
6,000	Cheung Kong Holdings Ltd		110,960
6,000	City Developments Ltd		59,189
2,000	Henderson Land Development Co Ltd		18,840
41	ICADE		6,115
955	Leighton Holdings Ltd		51,319
1,673	Liberty International plc		35,867
3,000	Mitsubishi Estate Co Ltd		72,372
2,100	Nomura Real Estate Holdings, Inc		50,754
10,670	Stockland Trust Group		78,885
4,000	Tokyu Land Corp		34,445
464	Unibail		101,704
389	Westfield Group		7,173
11,000	Wing Tai Holdings Ltd		20,633
	TOTAL REAL ESTATE		696,110
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.56%
966	Ansell Ltd		10,238
353	Bayer AG.		32,272
3,400	Bridgestone Corp		60,504
9,000	Mitsui Chemicals, Inc		59,133
	TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		162,147
SECURITY AND COMMODITY BROKERS - 1.01%
388	Credit Suisse Group		23,339
4,000	Hong Kong Exchanges and Clearing Ltd		113,474
487	Macquarie Group Ltd		32,584
3,500	Nikko Cordial Corp		52,070
18,000	Shinko Securities Co Ltd		74,439
	TOTAL SECURITY AND COMMODITY BROKERS		295,906
STONE, CLAY, AND GLASS PRODUCTS - 1.45%
1,739	Cookson Group plc		24,128
870	CRH plc		30,337
250	FLSmidth & Co AS		25,588
448	HeidelbergCement AG.		69,430
1,512	Holcim Ltd		161,998
219	Lafarge S.A.		39,864
14,000	Nippon Sheet Glass Co Ltd		71,557
	TOTAL STONE, CLAY, AND GLASS PRODUCTS		422,902
TOBACCO PRODUCTS - 0.94%
1,989	British American Tobacco plc		77,800
3,621	Imperial Tobacco Group plc		195,480
	TOTAL TOBACCO PRODUCTS		273,280

334

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION BY AIR - 1.15%
17,000	*	Japan Airlines Corp	$	38,804
17,437		Macquarie Airports		62,008
10,264		Qantas Airways Ltd		49,027
6,127		SABMiller plc		172,701
930		Singapore Airlines Ltd		11,229
		TOTAL TRANSPORTATION BY AIR		333,769
TRANSPORTATION EQUIPMENT - 5.67%
5,000		Cosco Corp Singapore Ltd		20,077
753		DaimlerChrysler AG.		73,211
60		D'ieteren S.A.		21,580
6,097		Fiat S.p.A.		157,780
2,681		GKN plc		15,050
4,000		Hino Motors Ltd		26,031
3,000		Honda Motor Co Ltd		100,703
1,000		Jardine Cycle & Carriage Ltd		15,145
4,000		Keppel Corp Ltd		36,125
3,000		NSK Ltd		31,312
230		Peugeot S.A.		17,436
50		Rieter Holding AG.		22,082
5,300		Scania AB (B Shares)		126,284
973		Siemens AG.		154,862
5,000		Singapore Technologies Engineering Ltd		13,026
2,282		Thales S.A.		135,958
7,100		Toyota Motor Corp		383,870
968		Volkswagen AG.		220,923
4,800		Volvo AB (A Shares)		80,208
		TOTAL TRANSPORTATION EQUIPMENT		1,651,663
TRUCKING AND WAREHOUSING - 0.37%
3,131		Deutsche Post AG.		107,621
		TOTAL TRUCKING AND WAREHOUSING		107,621
WATER TRANSPORTATION - 1.06%
1,380		Compagnie Maritime Belge S.A.		119,545
2,150		D/S Torm AS		75,460
1,000		Kawasaki Kisen Kaisha Ltd		9,829
2,000		Mitsui OSK Lines Ltd		25,529
10,000		Nippon Yusen Kabushiki Kaisha		79,488
		TOTAL WATER TRANSPORTATION		309,851
WHOLESALE TRADE-DURABLE GOODS - 0.83%
1,932		Kingspan Group plc		29,235
600		Mitsubishi Corp		16,435
5,300		Nissan Motor Co Ltd		58,354
715		Rautaruukki Oyj		30,995
5,200		Sumitomo Corp		73,870
933		Wesfarmers Ltd		33,178
		TOTAL WHOLESALE TRADE-DURABLE GOODS		242,067
WHOLESALE TRADE-NONDURABLE GOODS - 1.10%
292		Casino Guichard Perrachon S.A.		31,758
4,100		Esprit Holdings Ltd		60,995
8,000		Nippon Oil Corp		65,094

335

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SHARES		COMPANY		VALUE
1,600		Oriflame Cosmetics S.A.	$	102,240
1,643		Unilever NV		60,414
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		320,501
		TOTAL COMMON STOCKS		28,846,865
		(Cost $29,468,539)
PREFERRED STOCKS - 0.62%
COMMUNICATIONS - 0.09%
1,100		ProSiebenSat.1 Media AG.		26,359
		TOTAL COMMUNICATIONS		26,359
TRANSPORTATION EQUIPMENT - 0.53%
76		Porsche AG.		153,995
		TOTAL TRANSPORTATION EQUIPMENT		153,995
		TOTAL PREFERRED STOCKS		180,354
		(Cost $181,320)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.38%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.38%
$        110,000		Federal Home Loan Bank (FHLB) 0.000%, 01/02/08		109,980
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		109,980
		TOTAL SHORT-TERM INVESTMENTS		109,980
		(Cost $109,980)
		TOTAL PORTFOLIO - 99.98%		29,137,199
		(Cost $29,759,839)
		OTHER ASSETS & LIABILITIES, NET - 0.02%		5,371
		NET ASSETS - 100.00%	$	29,142,570
		ABBREVIATION:
		ADR - American Depositary Receipt
	*	Non-income producing.
		At December 31, 2007, the unrealized depreciation on investments was $622,640, consisting of
		gross unrealized appreciation of $334,670 and gross unrealized depreciation of $957,310.

336

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SUMMARY OF MARKET VALUES BY COUNTRY
ENHANCED INTERNATIONAL EQUITY INDEX FUND (unaudited)
December 31, 2007
			% OF
			MARKET
COUNTRY	VALUE		VALUE
DOMESTIC
UNITED STATES OF AMERICA	$	109,980	0.38	%
TOTAL DOMESTIC		109,980	0.38
FOREIGN
AUSTRALIA		1,844,648	6.33
AUSTRIA		196,616	0.67
BELGIUM		366,926	1.26
CAYMAN ISLANDS		108,010	0.37
DENMARK		342,899	1.18
FINLAND		631,802	2.17
FRANCE		3,020,804	10.37
GERMANY		2,826,708	9.70
GREECE		132,696	0.45
HONG KONG		607,535	2.08
IRELAND		123,092	0.42
ITALY		1,063,546	3.65
JAPAN		5,677,641	19.49
LUXEMBORG		124,326	0.43
NETHERLANDS		774,205	2.66
NEW ZEALAND		29,455	0.10
NORWAY		393,853	1.35
PORTUGAL		213,703	0.73
SINGAPORE		322,320	1.11
SPAIN		1,205,220	4.14
SWEDEN		502,236	1.72
SWITZERLAND		1,940,171	6.66
UNITED KINGDOM		6,578,807	22.58
TOTAL FOREIGN		29,027,219	99.62
TOTAL PORTFOLIO	$	29,137,199	100.00	%

337

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
ENHANCED LARGE-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.62%
AMUSEMENT AND RECREATION SERVICES - 1.00%
400	*	Activision, Inc	$	11,880
400	*	Penn National Gaming, Inc		23,820
5,100		Walt Disney Co		164,628
		TOTAL AMUSEMENT AND RECREATION SERVICES		200,328
APPAREL AND ACCESSORY STORES - 0.63%
900		Abercrombie & Fitch Co (Class A)		71,973
900		American Eagle Outfitters, Inc		18,693
500	*	AnnTaylor Stores Corp		12,780
500	*	Hanesbrands, Inc		13,585
100		Phillips-Van Heusen Corp		3,686
100		Polo Ralph Lauren Corp		6,179
		TOTAL APPAREL AND ACCESSORY STORES		126,896
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.68%
1,300		Advance Auto Parts		49,387
700	*	Autozone, Inc		83,937
100	*	O'Reilly Automotive, Inc		3,243
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		136,567
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.07%
500		Home Depot, Inc		13,470
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		13,470
BUSINESS SERVICES - 12.61%
4,500		Accenture Ltd (Class A)		162,135
200		Acxiom Corp		2,346
2,000	*	Adobe Systems, Inc		85,460
300	*	Affiliated Computer Services, Inc (Class A)		13,530
1,000	*	Autodesk, Inc		49,760
1,000	*	BMC Software, Inc		35,640
500		CA, Inc		12,475
300	*	Citrix Systems, Inc		11,403
500	*	DST Systems, Inc		41,275
3,900	*	eBay, Inc		129,441
3,400		Electronic Data Systems Corp		70,482
400	*	Fiserv, Inc		22,196
600	*	Google, Inc (Class A)		414,888
300	*	Juniper Networks, Inc		9,960
700	*	Kinetic Concepts, Inc		37,492
600		Manpower, Inc		34,140
200		Mastercard, Inc (Class A)		43,040
24,300		Microsoft Corp		865,080
400	*	NAVTEQ Corp		30,240
14,000	*	Oracle Corp		316,120

338

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,000		Robert Half International, Inc	$	27,040
300	*	Salesforce.com, Inc		18,807
900	*	Sun Microsystems Inc		16,317
800	*	Synopsys, Inc		20,744
300		Total System Services, Inc		8,400
2,100	*	Yahoo!, Inc		48,846
		TOTAL BUSINESS SERVICES		2,527,257
CHEMICALS AND ALLIED PRODUCTS - 8.88%
2,100		Abbott Laboratories		117,915
2,100	*	Amgen, Inc		97,524
500	*	Biogen Idec, Inc		28,460
1,600		Bristol-Myers Squibb Co		42,432
400		Cabot Corp		13,336
1,400		Celanese Corp (Series A)		59,248
600	*	Cephalon, Inc		43,056
400		Church & Dwight Co, Inc		21,628
200		Colgate-Palmolive Co		15,592
2,200	*	Forest Laboratories, Inc		80,190
600	*	Genentech, Inc		40,242
2,200	*	Gilead Sciences, Inc		101,222
300	*	Invitrogen Corp		28,023
500		Lubrizol Corp		27,080
4,800		Merck & Co, Inc		278,928
1,900		Monsanto Co		212,211
600	*	Mosaic Co		56,604
700		Nalco Holding Co		16,926
800	*	NBTY, Inc		21,920
3,000		Procter & Gamble Co		220,260
3,600		Schering-Plough Corp		95,904
1,000	*	Sepracor, Inc		26,250
1,300		Sherwin-Williams Co		75,452
100	*	VCA Antech, Inc		4,423
100	*	Warner Chilcott Ltd (Class A)		1,773
1,200		Wyeth		53,028
		TOTAL CHEMICALS AND ALLIED PRODUCTS		1,779,627
COMMUNICATIONS - 1.21%
300	*	CTC Media, Inc		9,060
4,000	*	DIRECTV Group, Inc		92,480
1,600	*	EchoStar Communications Corp (Class A)		60,352
500	*	Liberty Global, Inc (Class A)		19,595
100	*	MetroPCS Communications, Inc		1,945
400		Telephone & Data Systems, Inc		25,040
800	*	Time Warner Cable, Inc (Class A)		22,080
100	*	US Cellular Corp		8,410
300		Windstream Corp		3,906
		TOTAL COMMUNICATIONS		242,868
DEPOSITORY INSTITUTIONS - 1.21%
900		Bank of New York Mellon Corp		43,884
200		Northern Trust Corp		15,316
900		State Street Corp		73,080

339

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,500		Western Union Co	$	109,260
		TOTAL DEPOSITORY INSTITUTIONS		241,540
EATING AND DRINKING PLACES - 1.36%
600		Burger King Holdings, Inc		17,106
1,400		Darden Restaurants, Inc		38,794
1,100		McDonald's Corp		64,801
200		Tim Hortons, Inc		7,386
3,800		Yum! Brands, Inc		145,426
		TOTAL EATING AND DRINKING PLACES		273,513
EDUCATIONAL SERVICES - 0.51%
1,100	*	Apollo Group, Inc (Class A)		77,165
300	*	ITT Educational Services, Inc		25,581
		TOTAL EDUCATIONAL SERVICES		102,746
ELECTRIC, GAS, AND SANITARY SERVICES - 1.13%
2,700		Centerpoint Energy, Inc		46,251
900		Constellation Energy Group, Inc		92,277
100	*	Covanta Holding Corp		2,766
1,200		PPL Corp		62,508
700		Republic Services, Inc		21,945
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		225,747
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 12.38%
2,500	*	Apple Computer, Inc		495,200
800	*	Avnet, Inc		27,976
1,700	*	Broadcom Corp (Class A)		44,438
16,100	*	Cisco Systems, Inc		435,827
200	*	Dolby Laboratories, Inc (Class A)		9,944
500		Eaton Corp		48,475
400	*	Energizer Holdings, Inc		44,852
800		Harris Corp		50,144
3,500		Honeywell International, Inc		215,495
13,900		Intel Corp		370,574
100		L-3 Communications Holdings, Inc		10,594
600		Maxim Integrated Products, Inc		15,888
1,200	*	MEMC Electronic Materials, Inc		106,188
1,700	*	Network Appliance, Inc		42,432
1,400	*	Novellus Systems, Inc		38,598
2,600	*	Nvidia Corp		88,452
5,100		Qualcomm, Inc		200,685
2,700		RadioShack Corp		45,522
1,800	*	Sanmina-SCI Corp		3,276
5,600		Texas Instruments, Inc		187,040
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		2,481,600
ENGINEERING AND MANAGEMENT SERVICES - 2.10%
1,200	*	Celgene Corp		55,452
400		Fluor Corp		58,288
600	*	Hewitt Associates, Inc (Class A)		22,974
700	*	Jacobs Engineering Group, Inc		66,927
2,100	*	McDermott International, Inc		123,963
1,200	*	Shaw Group, Inc		72,528

340

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
400	*	URS Corp	$	21,732
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		421,864
FABRICATED METAL PRODUCTS - 0.65%
1,000		Ball Corp		45,000
1,100	*	Crown Holdings, Inc		28,215
600		Illinois Tool Works, Inc		32,124
500		Stanley Works		24,240
		TOTAL FABRICATED METAL PRODUCTS		129,579
FOOD AND KINDRED PRODUCTS - 4.24%
3,300		Anheuser-Busch Cos, Inc		172,722
3,200		Coca-Cola Co		196,384
200	*	Hansen Natural Corp		8,858
300		Kellogg Co		15,729
1,000		Pepsi Bottling Group, Inc		39,460
5,500		PepsiCo, Inc		417,450
		TOTAL FOOD AND KINDRED PRODUCTS		850,603
FOOD STORES - 0.61%
4,600		Kroger Co		122,866
		TOTAL FOOD STORES		122,866
FURNITURE AND FIXTURES - 0.59%
400		HNI Corp		14,024
2,600		Johnson Controls, Inc		93,704
500		Masco Corp		10,805
		TOTAL FURNITURE AND FIXTURES		118,533
FURNITURE AND HOME FURNISHINGS STORES - 0.28%
900	*	GameStop Corp (Class A)		55,899
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		55,899
GENERAL BUILDING CONTRACTORS - 0.26%
100	*	NVR, Inc		52,400
		TOTAL GENERAL BUILDING CONTRACTORS		52,400
GENERAL MERCHANDISE STORES - 2.97%
1,000	*	Big Lots, Inc		15,990
1,100		Costco Wholesale Corp		76,736
1,600		Family Dollar Stores, Inc		30,768
1,400		Target Corp		70,000
2,900		TJX Cos, Inc		83,317
6,700		Wal-Mart Stores, Inc		318,451
		TOTAL GENERAL MERCHANDISE STORES		595,262
HEALTH SERVICES - 3.12%
1,200		AmerisourceBergen Corp		53,844
1,200		Cigna Corp		64,476
1,100	*	Coventry Health Care, Inc		65,175
100	*	Edwards Lifesciences Corp		4,599
1,500	*	Express Scripts, Inc		109,500
500	*	Lincare Holdings, Inc		17,580
2,000		McKesson Corp		131,020
900	*	Medco Health Solutions, Inc		91,260

341

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,000	*	WellPoint, Inc	$	87,730
		TOTAL HEALTH SERVICES		625,184
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.31%
400	*	Foster Wheeler Ltd		62,008
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		62,008
HOLDING AND OTHER INVESTMENT OFFICES - 0.84%
500		General Growth Properties, Inc		20,590
300		Macerich Co		21,318
1,700		Prologis		107,746
400		Taubman Centers, Inc		19,676
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		169,330
HOTELS AND OTHER LODGING PLACES - 0.46%
200		Boyd Gaming Corp		6,814
400		Choice Hotels International, Inc		13,280
1,400		Starwood Hotels & Resorts Worldwide, Inc		61,642
400		Wyndham Worldwide Corp		9,424
		TOTAL HOTELS AND OTHER LODGING PLACES		91,160
INDUSTRIAL MACHINERY AND EQUIPMENT - 8.73%
200	*	AGCO Corp		13,596
7,400		Applied Materials, Inc		131,424
800		Black & Decker Corp		55,720
200	*	Brocade Communications Systems, Inc		1,468
2,800		Caterpillar, Inc		203,168
500		Cummins, Inc		63,685
100		Deere & Co		9,312
6,400	*	Dell, Inc		156,864
700	*	Dresser-Rand Group, Inc		27,335
5,100	*	EMC Corp		94,503
400	*	FMC Technologies, Inc		22,680
200		General Electric Co		7,414
1,300	*	Grant Prideco, Inc		72,163
7,300		Hewlett-Packard Co		368,504
3,300		International Business Machines Corp		356,730
1,000	*	Lam Research Corp		43,230
200		Lennox International, Inc		8,284
1,200	*	Lexmark International, Inc (Class A)		41,832
1,500		Seagate Technology, Inc		38,250
100	*	Teradata Corp		2,741
200	*	Terex Corp		13,114
600	*	Western Digital Corp		18,126
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		1,750,143
INSTRUMENTS AND RELATED PRODUCTS - 5.73%
1,500	*	Agilent Technologies, Inc		55,110
900		Applera Corp (Applied Biosystems Group)		30,528
3,200		Baxter International, Inc		185,760
900		Becton Dickinson & Co		75,222
800		Dentsply International, Inc		36,016
2,000		Emerson Electric Co		113,320
100	*	Intuitive Surgical, Inc		32,450

342

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,200		Johnson & Johnson	$	280,140
1,600		Medtronic, Inc		80,432
300	*	Mettler-Toledo International, Inc		34,140
300		Rockwell Collins, Inc		21,591
1,200	*	St. Jude Medical, Inc		48,768
800		Stryker Corp		59,776
100	*	Techne Corp		6,605
200	*	Trimble Navigation Ltd		6,048
800	*	Waters Corp		63,256
300	*	Zimmer Holdings, Inc		19,845
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		1,149,007
INSURANCE CARRIERS - 2.98%
600		Aetna, Inc		34,638
800		Aflac, Inc		50,104
200	*	Health Net, Inc		9,660
1,000	*	Humana, Inc		75,310
200	*	Philadelphia Consolidated Holding Co		7,870
300		Principal Financial Group		20,652
1,300		Prudential Financial, Inc		120,952
4,400		UnitedHealth Group, Inc		256,080
500	*	WellCare Health Plans, Inc		21,205
		TOTAL INSURANCE CARRIERS		596,471
LEATHER AND LEATHER PRODUCTS - 0.11%
700	*	Coach, Inc		21,406
		TOTAL LEATHER AND LEATHER PRODUCTS		21,406
METAL MINING - 0.97%
1,700		Freeport-McMoRan Copper & Gold, Inc (Class B)		174,148
200		Southern Copper Corp		21,026
		TOTAL METAL MINING		195,174
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.18%
1,400		Hasbro, Inc		35,812
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		35,812
MISCELLANEOUS RETAIL - 1.65%
1,300	*	Amazon.com, Inc		120,432
100		Barnes & Noble, Inc		3,445
1,600		Best Buy Co, Inc		84,240
300		CVS Corp		11,925
900	*	Dollar Tree Stores, Inc		23,328
100	*	Nutri/System, Inc		2,698
208		Petsmart, Inc		4,894
3,500		Staples, Inc		80,745
		TOTAL MISCELLANEOUS RETAIL		331,707
MOTION PICTURES - 0.55%
500		Regal Entertainment Group (Class A)		9,035
2,300	*	Viacom, Inc (Class B)		101,016
		TOTAL MOTION PICTURES		110,051

343

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
NONDEPOSITORY INSTITUTIONS - 1.17%
3,300		American Express Co	$	171,666
100	*	AmeriCredit Corp		1,279
800		Discover Financial Services		12,064
700		Textron, Inc		49,910
		TOTAL NONDEPOSITORY INSTITUTIONS		234,919
OIL AND GAS EXTRACTION - 3.81%
200	*	Cameron International Corp		9,626
100	*	Continental Resources, Inc		2,613
700		ENSCO International, Inc		41,734
800	*	Global Industries Ltd		17,136
2,300		Halliburton Co		87,193
1,900	*	National Oilwell Varco, Inc		139,574
2,400		Schlumberger Ltd		236,088
100	*	Southwestern Energy Co		5,572
1,500		Transocean, Inc		214,725
300		W&T Offshore, Inc		8,988
		TOTAL OIL AND GAS EXTRACTION		763,249
PAPER AND ALLIED PRODUCTS - 0.11%
100		Kimberly-Clark Corp		6,934
500		Packaging Corp of America		14,100
		TOTAL PAPER AND ALLIED PRODUCTS		21,034
PERSONAL SERVICES - 0.07%
300		Weight Watchers International, Inc		13,554
		TOTAL PERSONAL SERVICES		13,554
PETROLEUM AND COAL PRODUCTS - 2.50%
4,200		Exxon Mobil Corp		393,498
700		Noble Energy, Inc		55,664
1,100		Tesoro Corp		52,470
		TOTAL PETROLEUM AND COAL PRODUCTS		501,632
PRIMARY METAL INDUSTRIES - 1.11%
1,000	*	AK Steel Holding Corp		46,240
600	*	CommScope, Inc		29,526
2,200		Corning, Inc		52,778
400		Nucor Corp		23,688
500		Precision Castparts Corp		69,350
		TOTAL PRIMARY METAL INDUSTRIES		221,582
PRINTING AND PUBLISHING - 0.61%
500		Dun & Bradstreet Corp		44,315
200		John Wiley & Sons, Inc (Class A)		8,568
1,100		McGraw-Hill Cos, Inc		48,191
400		Meredith Corp		21,992
		TOTAL PRINTING AND PUBLISHING		123,066
RAILROAD TRANSPORTATION - 0.65%
600		Norfolk Southern Corp		30,264
800		Union Pacific Corp		100,496
		TOTAL RAILROAD TRANSPORTATION		130,760

344

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
REAL ESTATE - 0.37%
1,500	*	CB Richard Ellis Group, Inc (Class A)	$	32,325
600		Jones Lang LaSalle, Inc		42,696
		TOTAL REAL ESTATE		75,021
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.49%
600		Newell Rubbermaid, Inc		15,528
1,300		Nike, Inc (Class B)		83,512
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		99,040
SECURITY AND COMMODITY BROKERS - 2.49%
800		Broadridge Financial Solutions, Inc		17,944
2,500	*	E*Trade Financial Corp		8,875
1,100		Eaton Vance Corp		49,951
1,100		Federated Investors, Inc (Class B)		45,276
500		Franklin Resources, Inc		57,215
200		Goldman Sachs Group, Inc		43,010
200	*	IntercontinentalExchange, Inc		38,500
1,100		Invesco Ltd		34,518
300		Janus Capital Group, Inc		9,855
900	*	MF Global Ltd		28,323
500	*	Nasdaq Stock Market, Inc		24,745
700		SEI Investments Co		22,519
1,200		T Rowe Price Group, Inc		73,056
2,300		TD Ameritrade Holding Corp		46,138
		TOTAL SECURITY AND COMMODITY BROKERS		499,925
STONE, CLAY, AND GLASS PRODUCTS - 0.33%
500		3M Co		42,160
500	*	Owens-Illinois, Inc		24,750
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		66,910
TOBACCO PRODUCTS - 1.24%
2,000		Altria Group, Inc		151,160
700		Loews Corp (Carolina Group)		59,710
700		UST, Inc		38,360
		TOTAL TOBACCO PRODUCTS		249,230
TRANSPORTATION BY AIR - 0.21%
400	*	AMR Corp		5,612
400		FedEx Corp		35,668
		TOTAL TRANSPORTATION BY AIR		41,280
TRANSPORTATION EQUIPMENT - 3.48%
500		Autoliv, Inc		26,355
3,100		Boeing Co		271,126
900		General Dynamics Corp		80,091
100		Harley-Davidson, Inc		4,671
1,300		Lockheed Martin Corp		136,838
1,000		Paccar, Inc		54,480
2,100	*	Pactiv Corp		55,923
500		Raytheon Co		30,350
500		United Technologies Corp		38,270
		TOTAL TRANSPORTATION EQUIPMENT		698,104

345

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION SERVICES - 0.17%
500		CH Robinson Worldwide, Inc	$	27,060
400		UTI Worldwide, Inc		7,840
		TOTAL TRANSPORTATION SERVICES		34,900
TRUCKING AND WAREHOUSING - 0.34%
700		Con-way, Inc		29,078
400		Landstar System, Inc		16,860
300		United Parcel Service, Inc (Class B)		21,216
		TOTAL TRUCKING AND WAREHOUSING		67,154
WHOLESALE TRADE-DURABLE GOODS - 0.35%
900	*	Arrow Electronics, Inc		35,352
700	*	Patterson Cos, Inc		23,765
200		Reliance Steel & Aluminum Co		10,840
		TOTAL WHOLESALE TRADE-DURABLE GOODS		69,957
WHOLESALE TRADE-NONDURABLE GOODS - 1.12%
700		Cardinal Health, Inc		40,425
800	*	Endo Pharmaceuticals Holdings, Inc		21,336
400	*	Henry Schein, Inc		24,560
700		Herbalife Ltd		28,196
3,500		Sysco Corp		109,235
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		223,752
		TOTAL COMMON STOCKS
		(Cost $19,958,653)		19,971,687
		TOTAL PORTFOLIO - 99.62%
		(Cost $19,958,653)		19,971,687
		OTHER ASSETS & LIABILITIES, NET - 0.38%		75,246
		NET ASSETS - 100.00%	$	20,046,933
	*	Non-income producing
		At December 31, 2007, the unrealized appreciation on investments was $13,034, consisting of
		gross unrealized appreciation of $477,131 and gross unrealized depreciation of $464,097.

346

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
ENHANCED LARGE-CAP VALUE INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.52%
AMUSEMENT AND RECREATION SERVICES - 0.69%
91		Harrah's Entertainment, Inc	$	8,076
240		International Speedway Corp (Class A)		9,883
3,578		Walt Disney Co		115,498
762		Warner Music Group Corp		4,618
		TOTAL AMUSEMENT AND RECREATION SERVICES		138,075
APPAREL AND ACCESSORY STORES - 0.23%
1,771		Gap, Inc		37,687
261		Liz Claiborne, Inc		5,311
41		VF Corp		2,815
		TOTAL APPAREL AND ACCESSORY STORES		45,813
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.18%
202	*	Autozone, Inc		24,222
282	*	Copart, Inc		11,999
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		36,221
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.22%
1,603		Home Depot, Inc		43,185
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		43,185
BUSINESS SERVICES - 1.17%
346	*	Affiliated Computer Services, Inc (Class A)		15,605
349	*	Avis Budget Group, Inc		4,537
1,039	*	Computer Sciences Corp		51,399
1,369		Electronic Data Systems Corp		28,379
414	*	Expedia, Inc		13,091
603	*	Getty Images, Inc		17,487
387	*	Juniper Networks, Inc		12,848
266		Manpower, Inc		15,135
252	*	McAfee, Inc		9,450
3,007	*	Novell, Inc		20,658
756	*	Sun Microsystems Inc		13,706
1,237	*	Symantec Corp		19,965
211	*	Synopsys, Inc		5,471
214	*	United Rentals, Inc		3,929
		TOTAL BUSINESS SERVICES		231,660
CHEMICALS AND ALLIED PRODUCTS - 7.88%
1,185	*	Amgen, Inc		55,031
100	*	Biogen Idec, Inc		5,692
689		Cabot Corp		22,971
36		Colgate-Palmolive Co		2,807
380		Albemarle Corp		15,675
3,644		Dow Chemical Co		143,646

347

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,792		Du Pont (E.I.) de Nemours & Co	$	123,099
375		Eastman Chemical Co		22,909
710		Eli Lilly & Co		37,907
1,268		Huntsman Corp		32,588
3,984	*	King Pharmaceuticals, Inc		40,796
521		Lubrizol Corp		28,217
1,072		Merck & Co, Inc		62,294
197	*	Mosaic Co		18,585
20,832		Pfizer, Inc		473,511
485		PPG Industries, Inc		34,062
4,805		Procter & Gamble Co		352,783
100		Sherwin-Williams Co		5,804
1,993		Wyeth		88,071
		TOTAL CHEMICALS AND ALLIED PRODUCTS		1,566,448
COMMUNICATIONS - 7.42%
18,981		AT&T, Inc		788,850
1,338		CenturyTel, Inc		55,473
1,386		Clear Channel Communications, Inc		47,845
176	*	IAC/InterActiveCorp		4,738
217	*	Liberty Global, Inc (Series C)		7,940
917	*	Liberty Media Corp - Capital (Series A)		106,821
6,081		Qwest Communications International, Inc		42,628
7,116		Sprint Nextel Corp		93,433
114		Telephone & Data Systems, Inc		7,136
337	*	Time Warner Cable, Inc (Class A)		9,301
7,091		Verizon Communications, Inc		309,806
		TOTAL COMMUNICATIONS		1,473,971
DEPOSITORY INSTITUTIONS - 13.04%
13,347		Bank of America Corp		550,697
1,606		Bank of New York Mellon Corp		78,309
1,877		BB&T Corp		57,568
90		BOK Financial Corp		4,653
11,011		Citigroup, Inc		324,164
297		Comerica, Inc		12,928
117		Commerce Bancshares, Inc		5,249
992		Fifth Third Bancorp		24,929
700		First Horizon National Corp		12,705
9,692		JPMorgan Chase & Co		423,056
1,597		Keycorp		37,450
321		M&T Bank Corp		26,184
103		Marshall & Ilsley Corp		2,727
761		PNC Financial Services Group, Inc		49,960
3,879		Regions Financial Corp		91,738
2,296		Sovereign Bancorp, Inc		26,174
2,291		SunTrust Banks, Inc		143,165
395	*	TFS Financial Corp		4,716
4,062		US Bancorp		128,928
3,668		Wachovia Corp		139,494
1,539		Washington Mutual, Inc		20,946
728		Webster Financial Corp		23,274
10,991		Wells Fargo & Co		331,818
1,803		Western Union Co		43,777

348

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
571		Zions Bancorporation	$	26,660
		TOTAL DEPOSITORY INSTITUTIONS		2,591,269
EATING AND DRINKING PLACES - 0.57%
1,920		McDonald's Corp		113,107
		TOTAL EATING AND DRINKING PLACES		113,107
ELECTRIC, GAS, AND SANITARY SERVICES - 7.61%
883		AGL Resources, Inc		33,236
289		Alliant Energy Corp		11,759
2,934		American Electric Power Co, Inc		136,607
1,018		Constellation Energy Group, Inc		104,376
833		Dominion Resources, Inc		39,526
1,918		Edison International		102,364
1,094		Energen Corp		70,268
200		Energy East Corp		5,442
501		Entergy Corp		59,880
895		FirstEnergy Corp		64,744
1,677		FPL Group, Inc		113,667
1,131		MDU Resources Group, Inc		31,227
1,688		Northeast Utilities		52,851
3,012		Pepco Holdings, Inc		88,342
1,053		PG&E Corp		45,374
1,442		PPL Corp		75,114
1,713		Public Service Enterprise Group, Inc		168,285
1,113	*	Reliant Energy, Inc		29,205
256		SCANA Corp		10,790
2,146		Sempra Energy		132,794
1,507		Southern Co		58,396
733		Southern Union Co		21,521
1,068		UGI Corp		29,103
578		Wisconsin Energy Corp		28,154
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		1,513,025
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 2.31%
1,089	*	Avnet, Inc		38,082
556		AVX Corp		7,462
2,405	*	Cisco Systems, Inc		65,103
415	*	Dolby Laboratories, Inc (Class A)		20,634
529		Eaton Corp		51,287
1,312	*	Flextronics International Ltd		15,823
485		Honeywell International, Inc		29,861
1,191	*	Integrated Device Technology, Inc		13,470
121		Intersil Corp (Class A)		2,962
219	*	Jarden Corp		5,171
618	*	LSI Logic Corp		3,282
199	*	MEMC Electronic Materials, Inc		17,610
815		Motorola, Inc		13,073
100	*	Network Appliance, Inc		2,496
1,512	*	QLogic Corp		21,470
382		Qualcomm, Inc		15,032
1,985		RadioShack Corp		33,467
3,459	*	Sanmina-SCI Corp		6,295
620	*	Spansion, Inc (Class A)		2,437

349

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
300		Teleflex, Inc	$	18,903
1,244		Tyco Electronics Ltd		46,190
2,477	*	Vishay Intertechnology, Inc		28,263
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		458,373
ENGINEERING AND MANAGEMENT SERVICES - 0.06%
200	*	Hewitt Associates, Inc (Class A)		7,658
69	*	Shaw Group, Inc		4,170
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		11,828
FABRICATED METAL PRODUCTS - 0.42%
311		Commercial Metals Co		9,159
86		Crane Co		3,689
266		Illinois Tool Works, Inc		14,242
285		Parker Hannifin Corp		21,463
536		Snap-On, Inc		25,857
208		Stanley Works		10,084
		TOTAL FABRICATED METAL PRODUCTS		84,494
FOOD AND KINDRED PRODUCTS - 3.05%
1,695		Anheuser-Busch Cos, Inc		88,716
351		Archer Daniels Midland Co		16,297
1,720		Coca-Cola Co		105,556
905		Coca-Cola Enterprises, Inc		23,557
378	*	Constellation Brands, Inc (Class A)		8,936
849		Corn Products International, Inc		31,201
2,794		Del Monte Foods Co		26,431
1,721		General Mills, Inc		98,097
262		Hormel Foods Corp		10,606
377		J.M. Smucker Co		19,393
512		Kellogg Co		26,844
3,677		Kraft Foods, Inc (Class A)		119,981
516		Pepsi Bottling Group, Inc		20,361
327		PepsiAmericas, Inc		10,896
		TOTAL FOOD AND KINDRED PRODUCTS		606,872
FOOD STORES - 0.32%
696		Kroger Co		18,590
674		Safeway, Inc		23,058
562		Supervalu, Inc		21,086
		TOTAL FOOD STORES		62,734
FURNITURE AND HOME FURNISHINGS STORES - 0.09%
563		Circuit City Stores, Inc		2,365
199	*	Mohawk Industries, Inc		14,806
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		17,171
GENERAL BUILDING CONTRACTORS - 0.73%
1,443		Centex Corp		36,450
1,513		DR Horton, Inc		19,926
993		KB Home		21,449
783		Lennar Corp (Class A)		14,008
608		MDC Holdings, Inc		22,575
16	*	NVR, Inc		8,384

350

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,042		Pulte Homes, Inc	$	21,523
		TOTAL GENERAL BUILDING CONTRACTORS		144,315
GENERAL MERCHANDISE STORES - 1.06%
179	*	BJ's Wholesale Club, Inc		6,056
234		Costco Wholesale Corp		16,324
703		Family Dollar Stores, Inc		13,519
1,240		Macy's, Inc		32,079
246		TJX Cos, Inc		7,068
2,866		Wal-Mart Stores, Inc		136,221
		TOTAL GENERAL MERCHANDISE STORES		211,267
HEALTH SERVICES - 1.15%
228		Cigna Corp		12,250
1,112	*	Coventry Health Care, Inc		65,886
1,707	*	WellPoint, Inc		149,755
		TOTAL HEALTH SERVICES		227,891
HOLDING AND OTHER INVESTMENT OFFICES - 2.63%
568		AMB Property Corp		32,694
144		Annaly Mortgage Management, Inc		2,618
1,365		Apartment Investment & Management Co (Class A)		47,406
122		Brandywine Realty Trust		2,187
2,111		CBL & Associates Properties, Inc		50,474
1,600		Duke Realty Corp		41,728
729		General Growth Properties, Inc		30,020
2,608		HCP, Inc		90,706
1,563		Host Marriott Corp		26,634
1,324		iStar Financial, Inc		34,490
2,224		Liberty Property Trust		64,073
135		Public Storage, Inc		9,910
172		SL Green Realty Corp		16,075
1,205		Taubman Centers, Inc		59,274
894		Virgin Media, Inc		15,323
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		523,612
HOTELS AND OTHER LODGING PLACES - 0.07%
296		Starwood Hotels & Resorts Worldwide, Inc		13,033
		TOTAL HOTELS AND OTHER LODGING PLACES		13,033
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.16%
252		Black & Decker Corp		17,552
1,142		Deere & Co		106,343
817	*	Gardner Denver, Inc		26,961
25,213		General Electric Co		934,646
732		Ingersoll-Rand Co Ltd (Class A)		34,016
422		International Business Machines Corp		45,618
210		Kennametal, Inc		7,951
1,206		Seagate Technology, Inc		30,753
155	*	Teradata Corp		4,249
536	*	Western Digital Corp		16,193
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		1,224,282

351

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
INSTRUMENTS AND RELATED PRODUCTS - 2.70%
400	*	Boston Scientific Corp	$	4,652
949		Covidien Ltd		42,031
151		DRS Technologies, Inc		8,195
411		Emerson Electric Co		23,287
5,767		Johnson & Johnson		384,659
161		PerkinElmer, Inc		4,189
4,325		Xerox Corp		70,022
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		537,035
INSURANCE AGENTS, BROKERS AND SERVICE - 0.60%
1,375		Hartford Financial Services Group, Inc		119,886
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		119,886
INSURANCE CARRIERS - 8.53%
2,186		ACE Ltd		135,051
798		Aetna, Inc		46,069
359		Allied World Assurance Holdings Ltd		18,011
1,002		Allstate Corp		52,334
1,174		Ambac Financial Group, Inc		30,254
5,678		American International Group, Inc		331,027
66		American National Insurance Co		8,002
496	*	Arch Capital Group Ltd		34,894
1,902		Axis Capital Holdings Ltd		74,121
2,061		Chubb Corp		112,489
1,110		Genworth Financial, Inc (Class A)		28,249
1,173		HCC Insurance Holdings, Inc		33,642
1,491		Lincoln National Corp		86,806
1,465		Loews Corp		73,748
527		MBIA, Inc		9,818
760		Metlife, Inc		46,831
100		MGIC Investment Corp		2,243
848		Nationwide Financial Services, Inc (Class A)		38,168
225	*	Philadelphia Consolidated Holding Co		8,854
668		PMI Group, Inc		8,871
1,383		Principal Financial Group		95,206
1,080		Prudential Financial, Inc		100,483
668		Radian Group, Inc		7,802
549		RenaissanceRe Holdings Ltd		33,072
523		Stancorp Financial Group, Inc		26,349
795		Torchmark Corp		48,121
982		Travelers Cos, Inc		52,832
1,588		UnumProvident Corp		37,779
2,353		W.R. Berkley Corp		70,143
881		XL Capital Ltd (Class A)		44,323
		TOTAL INSURANCE CARRIERS		1,695,592
LEATHER AND LEATHER PRODUCTS - 0.14%
880	*	Coach, Inc		26,910
		TOTAL LEATHER AND LEATHER PRODUCTS		26,910
METAL MINING - 0.63%
896		Freeport-McMoRan Copper & Gold, Inc (Class B)		91,786
689		Newmont Mining Corp		33,644
		TOTAL METAL MINING		125,430

352

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.77%
575		Mattel, Inc	$	10,948
3,581		Tyco International Ltd		141,987
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		152,935
MISCELLANEOUS RETAIL - 0.08%
182		Barnes & Noble, Inc		6,270
213	*	Dollar Tree Stores, Inc		5,521
38	*	Sears Holdings Corp		3,878
		TOTAL MISCELLANEOUS RETAIL		15,669
MOTION PICTURES - 0.98%
2,373		CBS Corp (Class B)		64,664
2,272		News Corp (Class A)		46,553
1,059		Regal Entertainment Group (Class A)		19,136
3,876		Time Warner, Inc		63,993
		TOTAL MOTION PICTURES		194,346
NONDEPOSITORY INSTITUTIONS - 1.43%
118		American Capital Strategies Ltd		3,889
2,128	*	AmeriCredit Corp		27,217
2,593		Capital One Financial Corp		122,545
2,398		Discover Financial Services		36,162
1,598		Fannie Mae		63,888
610		Freddie Mac		20,783
661	*	GLG Partners, Inc		8,990
		TOTAL NONDEPOSITORY INSTITUTIONS		283,474
OIL AND GAS EXTRACTION - 0.67%
467		Anadarko Petroleum Corp		30,677
529		ENSCO International, Inc		31,539
1,293		Patterson-UTI Energy, Inc		25,239
161	*	Pride International, Inc		5,458
235		St. Mary Land & Exploration Co		9,073
138		Tidewater, Inc		7,571
267	*	Unit Corp		12,349
363		W&T Offshore, Inc		10,875
		TOTAL OIL AND GAS EXTRACTION		132,781
PAPER AND ALLIED PRODUCTS - 0.58%
1,980	*	Domtar Corporation		15,226
530		International Paper Co		17,161
415		Kimberly-Clark Corp		28,776
348		MeadWestvaco Corp		10,892
1,301		Sonoco Products Co		42,517
		TOTAL PAPER AND ALLIED PRODUCTS		114,572
PETROLEUM AND COAL PRODUCTS - 15.43%
509		Apache Corp		54,738
6,414		Chevron Corp		598,619
5,410		ConocoPhillips		477,703
1,672		Devon Energy Corp		148,658
13,435		Exxon Mobil Corp		1,258,725

353

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
905		Hess Corp	$	91,278
2,442		Marathon Oil Corp		148,620
671		Noble Energy, Inc		53,358
2,675		Occidental Petroleum Corp		205,948
253		Valero Energy Corp		17,718
459		Western Refining, Inc		11,112
		TOTAL PETROLEUM AND COAL PRODUCTS		3,066,477
PIPELINES, EXCEPT NATURAL GAS - 0.14%
1,102		Spectra Energy Corp		28,454
		TOTAL PIPELINES, EXCEPT NATURAL GAS		28,454
PRIMARY METAL INDUSTRIES - 0.91%
686		Alcoa, Inc		25,073
435		Corning, Inc		10,436
571		Nucor Corp		33,815
929		United States Steel Corp		112,325
		TOTAL PRIMARY METAL INDUSTRIES		181,649
PRINTING AND PUBLISHING - 0.70%
3,024		Gannett Co, Inc		117,936
191		R.H. Donnelley Corp		6,968
386		R.R. Donnelley & Sons Co		14,568
		TOTAL PRINTING AND PUBLISHING		139,472
RAILROAD TRANSPORTATION - 0.67%
300		CSX Corp		13,194
1,368		Norfolk Southern Corp		69,002
402		Union Pacific Corp		50,499
		TOTAL RAILROAD TRANSPORTATION		132,695
REAL ESTATE - 0.02%
46		Jones Lang LaSalle, Inc		3,273
		TOTAL REAL ESTATE		3,273
SECURITY AND COMMODITY BROKERS - 2.62%
955		Ameriprise Financial, Inc		52,630
284		Bear Stearns Cos, Inc		25,063
3,551	*	E*Trade Financial Corp		12,606
486		Goldman Sachs Group, Inc		104,514
700		Invesco Ltd		21,966
428		Janus Capital Group, Inc		14,060
557		Legg Mason, Inc		40,745
890		Lehman Brothers Holdings, Inc		58,242
553		Merrill Lynch & Co, Inc		29,685
2,389		Morgan Stanley		126,880
63	*	Nasdaq Stock Market, Inc		3,118
128		Nymex Holdings, Inc		17,102
400		Raymond James Financial, Inc		13,064
		TOTAL SECURITY AND COMMODITY BROKERS		519,675
STONE, CLAY, AND GLASS PRODUCTS - 0.02%
57		3M Co		4,806
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		4,806

354

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
TOBACCO PRODUCTS - 1.34%
3,536		Altria Group, Inc	$	267,251
		TOTAL TOBACCO PRODUCTS		267,251
TRANSPORTATION BY AIR - 0.11%
1,085	*	Northwest Airlines Corp		15,743
366	*	US Airways Group, Inc		5,384
		TOTAL TRANSPORTATION BY AIR		21,127
TRANSPORTATION EQUIPMENT - 2.12%
934		Autoliv, Inc		49,231
5,457	*	Ford Motor Co		36,726
1,461		General Dynamics Corp		130,014
521		General Motors Corp		12,968
159		ITT Industries, Inc		10,500
150		Lockheed Martin Corp		15,789
599		Northrop Grumman Corp		47,105
201		Oshkosh Truck Corp		9,499
190		Raytheon Co		11,533
306		Thor Industries, Inc		11,631
1,140		United Technologies Corp		87,256
		TOTAL TRANSPORTATION EQUIPMENT		422,252
TRUCKING AND WAREHOUSING - 0.18%
557		Con-way, Inc		23,138
697	*	YRC Worldwide, Inc		11,912
		TOTAL TRUCKING AND WAREHOUSING		35,050
WATER TRANSPORTATION - 0.11%
487		Carnival Corp		21,667
		TOTAL WATER TRANSPORTATION		21,667
WHOLESALE TRADE-DURABLE GOODS - 0.82%
2,446	*	Arrow Electronics, Inc		96,079
885	*	Ingram Micro, Inc (Class A)		15,965
922		Reliance Steel & Aluminum Co		49,972
		TOTAL WHOLESALE TRADE-DURABLE GOODS		162,016
WHOLESALE TRADE-NONDURABLE GOODS - 0.16%
341		Airgas, Inc		17,770
764		Idearc, Inc		13,416
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		31,186
		TOTAL COMMON STOCKS		19,774,326
		(Cost $19,958,653)
		TOTAL PORTFOLIO - 99.52%
		(Cost $19,958,653)		19,774,326
		OTHER ASSETS & LIABILITIES, NET - 0.48%		96,178
		NET ASSETS - 100.00%	$	19,870,504

355

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

*	Non-income producing
	At December 31, 2007, the unrealized depreciation on investments was $184,327, consisting of
	gross unrealized appreciation of $477,131 and gross unrealized depreciation of $661,458.

356

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SOCIAL CHOICE EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.07%
AGRICULTURAL PRODUCTION-CROPS - 0.01%
1,772	*	Chiquita Brands International, Inc	$	32,587
		TOTAL AGRICULTURAL PRODUCTION-CROPS		32,587
AMUSEMENT AND RECREATION SERVICES - 0.86%
11,723	*	Activision, Inc		348,173
1,088		International Speedway Corp (Class A)		44,804
133,312		Walt Disney Co		4,303,311
		TOTAL AMUSEMENT AND RECREATION SERVICES		4,696,288
APPAREL AND ACCESSORY STORES - 0.57%
11,133		American Eagle Outfitters, Inc		231,232
933	*	AnnTaylor Stores Corp		23,847
3,145		Bebe Stores, Inc		40,445
1,450		Cato Corp (Class A)		22,707
1,936	*	Charming Shoppes, Inc		10,474
7,029	*	Chico's FAS, Inc		63,472
151	*	Collective Brands, Inc		2,626
8,780		Foot Locker, Inc		119,935
40,581		Gap, Inc		863,564
14,663	*	Kohl's Corp		671,565
23,465		Limited Brands, Inc		444,192
12,532		Nordstrom, Inc		460,300
1,000	*	Pacific Sunwear Of California, Inc		14,110
4,978		Ross Stores, Inc		127,287
1,873		Stage Stores, Inc		27,720
		TOTAL APPAREL AND ACCESSORY STORES		3,123,476
APPAREL AND OTHER TEXTILE PRODUCTS - 0.08%
77		Columbia Sportswear Co		3,395
1,241		Kellwood Co		20,650
4,748		Liz Claiborne, Inc		96,622
77		Phillips-Van Heusen Corp		2,838
1,841		Polo Ralph Lauren Corp		113,755
3,110		VF Corp		213,533
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		450,793
AUTO REPAIR, SERVICES AND PARKING - 0.05%
8,449	*	Hertz Global Holdings, Inc		134,255
1,721		Ryder System, Inc		80,904
1,419	*	Wright Express Corp		50,360
		TOTAL AUTO REPAIR, SERVICES AND PARKING		265,519
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.10%
533		Advance Auto Parts		20,249
761		Asbury Automotive Group, Inc		11,453

357

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
2,298	*	Autozone, Inc	$	275,553
5,478	*	Carmax, Inc		108,191
1,431	*	Copart, Inc		60,889
2,611	*	Rush Enterprises, Inc (Class A)		47,468
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		523,803
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.91%
1,537		Fastenal Co		62,126
117,162		Home Depot, Inc		3,156,344
78,117		Lowe's Cos, Inc		1,767,007
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		4,985,477
BUSINESS SERVICES - 6.90%
16,216	*	3Com Corp		73,296
764	*	3D Systems Corp		11,796
22,599		Accenture Ltd (Class A)		814,242
626		Administaff, Inc		17,703
23,180	*	Adobe Systems, Inc		990,481
2,493	*	Alliance Data Systems Corp		186,950
5,684	*	Ariba, Inc		63,377
22,140	*	Art Technology Group, Inc		95,645
7,978	*	Autodesk, Inc		396,985
51,645		Automatic Data Processing, Inc		2,299,752
49	*	Avocent Corp		1,142
14,619	*	BEA Systems, Inc		230,688
6,444	*	BearingPoint, Inc		18,237
1,800	*	Blackboard, Inc		72,450
2,780	*	Blue Coat Systems, Inc		91,379
1,978	*	Bottomline Technologies, Inc		27,692
305		Brink's Co		18,221
1,713	*	Cerner Corp		96,613
4,688	*	Ciber, Inc		28,644
5,413	*	CMGI, Inc		70,856
7,329	*	CNET Networks, Inc		66,987
7,242	*	Cogent Communications Group, Inc		171,708
6,284	*	Cogent, Inc		70,067
600		Cognex Corp		12,090
9,926	*	Compuware Corp		88,143
8,282	*	Convergys Corp		136,322
253	*	CSG Systems International, Inc		3,724
2,857		Deluxe Corp		93,967
1,011	*	Digital River, Inc		33,434
6,937	*	DST Systems, Inc		572,649
4,140	*	Earthlink, Inc		29,270
51,959	*	eBay, Inc		1,724,519
196	*	Eclipsys Corp		4,961
13,638	*	Electronic Arts, Inc		796,596
1,898	*	Equinix, Inc		191,831
10,660	*	Expedia, Inc		337,069
2,285		Fair Isaac Corp		73,463
705	*	First Advantage Corp (Class A)		11,611
14,259	*	Fiserv, Inc		791,232
149	*	Gartner, Inc		2,616
989	*	Gerber Scientific, Inc		10,681

358

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
2,062	*	Getty Images, Inc	$	59,798
8,485	*	Google, Inc (Class A)		5,867,208
295	*	Hudson Highland Group, Inc		2,481
1,420	*	iGate Corp		12,027
11,779		IMS Health, Inc		271,388
5,819	*	Informatica Corp		104,858
1,522		infoUSA, Inc		13,591
24,769	*	Innovative Solutions & Support, Inc		240,012
1,537		Interactive Data Corp		50,736
5,595	*	Internap Network Services Corp		46,606
2,420	*	Interwoven, Inc		34,412
11,014	*	Intuit, Inc		348,153
400	*	inVentiv Health, Inc		12,384
3,346	*	Ipass, Inc		13,585
5,775	*	Iron Mountain, Inc		213,791
6,833		Jack Henry & Associates, Inc		166,315
3,356	*	Kinetic Concepts, Inc		179,747
3,512		Lamar Advertising Co (Class A)		168,822
4,517	*	Lawson Software, Inc		46,254
2,066	*	Lionbridge Technologies		7,334
700	*	Liquidity Services, Inc		9,030
2,659		Manpower, Inc		151,297
1,737		Marchex, Inc (Class B)		18,864
5,162		Mastercard, Inc (Class A)		1,110,862
1,620	*	Mentor Graphics Corp		17,464
337,507		Microsoft Corp		12,015,249
3,102	*	Midway Games, Inc		8,562
4,769		MoneyGram International, Inc		73,300
4,881	*	Monster Worldwide, Inc		158,144
685	*	MPS Group, Inc		7,494
1,141	*	Ness Technologies, Inc		10,531
22,052		NIC, Inc		186,119
21,969	*	Novell, Inc		150,927
27,700		Omnicom Group, Inc		1,316,581
1,376	*	Parametric Technology Corp		24,562
926	*	PeopleSupport, Inc		12,668
381		Portfolio Recovery Associates, Inc		15,114
3,000	*	Premiere Global Services, Inc		44,550
1,100		QAD, Inc		10,274
2,786	*	Quest Software, Inc		51,374
3,252	*	RealNetworks, Inc		19,805
7,004		Robert Half International, Inc		189,388
3,512	*	Salesforce.com, Inc		220,167
12,320	*	Sapient Corp		108,539
3,796	*	Smith Micro Software, Inc		32,152
2,256	*	Sohu.com, Inc		122,997
3,590	*	SonicWALL, Inc		38,485
29,587	*	Sonus Networks, Inc		172,492
2,784	*	Spherion Corp		20,268
41,030	*	Sun Microsystems Inc		743,874
1,913	*	SYKES Enterprises, Inc		34,434
53,862	*	Symantec Corp		869,333
1,481	*	TeleTech Holdings, Inc		31,501
8,575	*	TIBCO Software, Inc		69,200

359

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
5,869	*	Tiens Biotech Group USA, Inc	$	13,733
9,754		Total System Services, Inc		273,112
2,880	*	TradeStation Group, Inc		40,925
480	*	Travelzoo, Inc		6,566
882	*	Trizetto Group, Inc		15,320
11,298	*	Unisys Corp		53,440
2,536		United Online, Inc		29,976
2,006	*	United Rentals, Inc		36,830
3,555	*	Vasco Data Security International		99,256
12,517	*	VeriSign, Inc		470,764
457		Viad Corp		14,432
		TOTAL BUSINESS SERVICES		37,808,546
CHEMICALS AND ALLIED PRODUCTS - 9.96%
1,557	*	Abraxis Bioscience, Inc		107,075
837	*	Adams Respiratory Therapeutics, Inc		50,002
26,193		Air Products & Chemicals, Inc		2,583,416
1,000		Alberto-Culver Co		24,540
831	*	Alexion Pharmaceuticals, Inc		62,350
1,038	*	Alkermes, Inc		16,182
2,490	*	American Oriental Bioengineering, Inc		27,589
59,208	*	Amgen, Inc		2,749,620
6,231	*	APP Pharmaceuticals, Inc		63,992
1,775	*	Arena Pharmaceuticals, Inc		13,898
828	*	Array Biopharma, Inc		6,972
2,400	*	Auxilium Pharmaceuticals, Inc		71,976
13,317		Avery Dennison Corp		707,665
20,393		Avon Products, Inc		806,135
675		Balchem Corp		15,107
7,922	*	Barr Pharmaceuticals, Inc		420,658
5,640	*	Bentley Pharmaceuticals, Inc		85,108
7,991	*	Biogen Idec, Inc		454,848
4,801	*	BioMarin Pharmaceuticals, Inc		169,955
2,778	*	Bradley Pharmaceuticals, Inc		54,727
108,584		Bristol-Myers Squibb Co		2,879,648
4,932		Cabot Corp		164,433
4,139	*	Calgon Carbon Corp		65,769
2,700	*	Caraco Pharmaceutical Laboratories Ltd		46,305
3,549	*	Cell Genesys, Inc		8,163
1,507	*	Cephalon, Inc		108,142
6,107		Clorox Co		397,993
31,689		Colgate-Palmolive Co		2,470,474
2,045	*	Cypress Bioscience, Inc		22,556
9,570	*	Dendreon Corp		59,525
29,226	*	Durect Corp		187,923
23,355		Ecolab, Inc		1,196,010
56,206		Eli Lilly & Co		3,000,838
1,257	*	Encysive Pharmaceuticals, Inc		1,068
2,629	*	Enzon Pharmaceuticals, Inc		25,054
533		Estee Lauder Cos (Class A)		23,244
22,767	*	Forest Laboratories, Inc		829,857
30,651	*	Genentech, Inc		2,055,763
15,074	*	Genzyme Corp		1,122,109
1,241	*	Geron Corp		7,049

360

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
50,688	*	Gilead Sciences, Inc	$	2,332,155
5,613		H.B. Fuller Co		126,012
6,349	*	Human Genome Sciences, Inc		66,284
595	*	Idenix Pharmaceuticals, Inc		1,607
4,998	*	Idexx Laboratories, Inc		293,033
2,631	*	Immucor, Inc		89,428
3,906	*	Inverness Medical Innovations, Inc		219,439
2,031	*	Invitrogen Corp		189,716
16,659	*	King Pharmaceuticals, Inc		170,588
6,551		Lubrizol Corp		354,802
3,834		Mannatech, Inc		24,231
3,292	*	Medarex, Inc		34,303
6,640		Medicis Pharmaceutical Corp (Class A)		172,441
115,279		Merck & Co, Inc		6,698,863
2,675	*	MGI Pharma, Inc		108,418
10,926	*	Millennium Pharmaceuticals, Inc		163,671
2,930		Minerals Technologies, Inc		196,164
25,380	*	Mylan Laboratories, Inc		356,843
7,166	*	Nabi Biopharmaceuticals		25,869
700		Nalco Holding Co		16,926
3,519	*	Nastech Pharmaceutical Co, Inc		13,372
5,898	*	Neurocrine Biosciences, Inc		26,777
7,439	*	Noven Pharmaceuticals, Inc		103,253
419	*	OraSure Technologies, Inc		3,725
1,544	*	Pacific Ethanol, Inc		12,676
2,802	*	Par Pharmaceutical Cos, Inc		67,248
2,607	*	PDL BioPharma, Inc		45,675
3,532	*	Penwest Pharmaceuticals Co		20,662
4,125	*	Pharmion Corp		259,298
7,475	*	Pozen, Inc		89,700
10,611		PPG Industries, Inc		745,211
29,325		Praxair, Inc		2,601,421
4,086	*	Prestige Brands Holdings, Inc		30,563
137,240		Procter & Gamble Co		10,076,161
2,384	*	Progenics Pharmaceuticals, Inc		43,079
23,430		Rohm & Haas Co		1,243,430
8,225		RPM International, Inc		166,968
5,621	*	Salix Pharmaceuticals Ltd		44,293
76,472		Schering-Plough Corp		2,037,214
2,174	*	Sciele Pharma, Inc		44,458
4,640		Sensient Technologies Corp		131,219
5,532	*	Sepracor, Inc		145,215
15,264		Sigma-Aldrich Corp		833,414
1,509	*	Somaxon Pharmaceuticals, Inc		7,862
1,886	*	SuperGen, Inc		6,884
655	*	United Therapeutics Corp		63,961
2,441	*	USANA Health Sciences, Inc		90,512
3,265		Valspar Corp		73,593
2,516	*	VCA Antech, Inc		111,283
4,030	*	Vertex Pharmaceuticals, Inc		93,617
10,400	*	Warner Chilcott Ltd (Class A)		184,392
10,104	*	Watson Pharmaceuticals, Inc		274,223
6,828	*	Zymogenetics, Inc		79,683
		TOTAL CHEMICALS AND ALLIED PRODUCTS		54,575,573

361

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
COMMUNICATIONS - 4.97%
14,087	*	American Tower Corp (Class A)	$	600,106
381	*	Anixter International, Inc		23,725
265,629		AT&T, Inc		11,039,541
12,788		Cablevision Systems Corp (Class A)		313,306
1,400		CenturyTel, Inc		58,044
22,738		Citadel Broadcasting Corp		46,840
8,959		Citizens Communications Co		114,048
5,963	*	Cox Radio, Inc (Class A)		72,450
2,565	*	Crown Castle International Corp		106,704
10,421	*	Crown Media Holdings, Inc (Class A)		67,737
6,349		Embarq Corp		314,466
5,670		Entercom Communications Corp (Class A)		77,622
2,970	*	Entravision Communications Corp (Class A)		23,255
1,390	*	FiberTower Corp		3,169
400	*	Fisher Communications, Inc		15,184
4,482		Gray Television, Inc		35,946
1,711		Hearst-Argyle Television, Inc		37,830
19,462	*	IAC/InterActiveCorp		523,917
40,466	*	Level 3 Communications, Inc		123,017
29,455	*	Liberty Global, Inc (Class A)		1,154,341
12,573	*	Liberty Media Corp - Capital (Series A)		1,464,629
50,309	*	Liberty Media Holding Corp (Interactive A)		959,896
6,436	*	Lin TV Corp (Class A)		78,326
1,600	*	Mediacom Communications Corp (Class A)		7,344
708	*	NeuStar, Inc (Class A)		20,305
5,002	*	NII Holdings, Inc		241,697
6,764	*	Novatel Wireless, Inc		109,577
4,752	*	Radio One, Inc (Class D)		11,262
813		Salem Communications Corp (Class A)		5,358
3,719	*	SAVVIS, Inc		103,797
3,448	*	SBA Communications Corp (Class A)		116,680
4,944	*	Spanish Broadcasting System, Inc (Class A)		9,146
117,439		Sprint Nextel Corp		1,541,974
2,670		Telephone & Data Systems, Inc		167,142
350	*	Terremark Worldwide, Inc		2,275
23,423	*	Time Warner Cable, Inc (Class A)		646,475
12,375	*	TiVo, Inc		103,208
208		USA Mobility, Inc		2,974
146,185		Verizon Communications, Inc		6,386,823
19,340		Windstream Corp		251,807
19,989	*	XM Satellite Radio Holdings, Inc (Class A)		244,665
		TOTAL COMMUNICATIONS		27,226,608
DEPOSITORY INSTITUTIONS - 7.76%
1,460		Astoria Financial Corp		33,974
192,926		Bank of America Corp		7,960,127
2,210		Bank of Hawaii Corp		113,019
57,205		Bank of New York Mellon Corp		2,789,316
51,006		BB&T Corp		1,564,354
2,750		City National Corp		163,763
10,730		Comerica, Inc		467,077
2,333		Commerce Bancorp, Inc		88,981

362

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
60,847		Fifth Third Bancorp	$	1,529,085
2,580		First Horizon National Corp		46,827
1,300		First Midwest Bancorp, Inc		39,780
7,540	*	Fremont General Corp		26,390
2,250		Fulton Financial Corp		25,245
4,792		Hudson City Bancorp, Inc		71,976
4,245		IndyMac Bancorp, Inc		25,258
33,790		Keycorp		792,376
9,834		M&T Bank Corp		802,159
20,218		Marshall & Ilsley Corp		535,373
3,856	*	Metavante Technologies, Inc		89,922
57,113		National City Corp		940,080
5,583		New York Community Bancorp, Inc		98,149
2,260		NewAlliance Bancshares, Inc		26,035
12,115		Northern Trust Corp		927,767
2,220		Old National Bancorp		33,211
2,210		People's United Financial, Inc		39,338
28,948		PNC Financial Services Group, Inc		1,900,436
8,275		Popular, Inc		87,715
4,760		Provident Financial Services, Inc		68,639
58,964		Regions Financial Corp		1,394,499
1,650		South Financial Group, Inc		25,790
12,295		Sovereign Bancorp, Inc		140,163
18,970		State Street Corp		1,540,364
31,083		SunTrust Banks, Inc		1,942,377
100	*	Superior Bancorp		537
2,700	*	SVB Financial Group		136,080
12,541		Synovus Financial Corp		301,987
5,800		UnionBanCal Corp		283,678
129,907		US Bancorp		4,123,248
3,610		Valley National Bancorp		68,807
117,847		Wachovia Corp		4,481,721
840		Washington Federal, Inc		17,732
82,983		Washington Mutual, Inc		1,129,399
650		Webster Financial Corp		20,781
184,453		Wells Fargo & Co		5,568,636
1,977		Zions Bancorporation		92,306
		TOTAL DEPOSITORY INSTITUTIONS		42,554,477
EATING AND DRINKING PLACES - 1.29%
6,027	*	AFC Enterprises		68,226
1,289		Bob Evans Farms, Inc		34,713
900	*	Cheesecake Factory		21,339
13,157		Darden Restaurants, Inc		364,580
85,012		McDonald's Corp		5,008,057
700		O'Charleys, Inc		10,486
200		Ruby Tuesday, Inc		1,950
3,040	*	Sonic Corp		66,576
45,291	*	Starbucks Corp		927,107
10,990		Tim Hortons, Inc		405,861
5,740		Wendy's International, Inc		148,322
		TOTAL EATING AND DRINKING PLACES		7,057,217

363

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 5.63%
60,473	*	AES Corp	$	1,293,517
17,535		AGL Resources, Inc		660,017
13,133		Alliant Energy Corp		534,382
3,623		Aqua America, Inc		76,808
16,279		Atmos Energy Corp		456,463
24,660		Avista Corp		531,176
25,380		Centerpoint Energy, Inc		434,759
2,370		Central Vermont Public Service Corp		73,091
3,626		CH Energy Group, Inc		161,502
33,943		Cleco Corp		943,615
13,995		CMS Energy Corp		243,233
44,551		Consolidated Edison, Inc		2,176,316
9,189		Crosstex Energy, Inc		342,198
55,923		El Paso Corp		964,113
32,340		Empire District Electric Co		736,705
5,034		Energen Corp		323,334
20,612		Energy East Corp		560,853
1,347		EnergySouth, Inc		78,126
39,830		Hawaiian Electric Industries, Inc		906,929
29,770		Idacorp, Inc		1,048,499
1,741		ITC Holdings Corp		98,227
4,043		Laclede Group, Inc		138,432
2,156		Markwest Hydrocarbon, Inc		135,073
5,814		Metal Management, Inc		264,711
8,927		MGE Energy, Inc		316,641
23,533		National Fuel Gas Co		1,098,520
2,533		New Jersey Resources Corp		126,701
10,891		Nicor, Inc		461,234
62,605		NiSource, Inc		1,182,608
10,914		Northeast Utilities		341,717
3,520		Northwest Natural Gas Co		171,283
13,216		NSTAR		478,684
46,832		OGE Energy Corp		1,699,533
11,394		Oneok, Inc		510,109
69,104		Pepco Holdings, Inc		2,026,820
8,170		Piedmont Natural Gas Co, Inc		213,727
9,349		Pinnacle West Capital Corp		396,491
54,991		Puget Energy, Inc		1,508,403
25,180		Questar Corp		1,362,238
1,955		Resource America, Inc (Class A)		28,680
11,801		Sempra Energy		730,246
39,462		Sierra Pacific Resources		670,065
3,830		SJW Corp		132,786
6,830		South Jersey Industries, Inc		246,495
2,980		Southwest Gas Corp		88,715
24,682		TECO Energy, Inc		424,777
5,867		UGI Corp		159,876
3,154		UIL Holdings Corp		116,540
22,175		Unisource Energy Corp		699,621
3,955		Vectren Corp		114,735
3,746	*	Waste Services, Inc		32,103
9,745		WGL Holdings, Inc		319,246
55,642		Williams Cos, Inc		1,990,871
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		30,831,544

364

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.67%
23,426	*	Advanced Micro Devices, Inc	$	175,695
23,430		Ametek, Inc		1,097,461
2,880	*	Anadigics, Inc		33,322
36,208	*	Apple Computer, Inc		7,172,081
6,760	*	Arris Group, Inc		67,465
3,948	*	Atheros Communications, Inc		120,572
3,942		Baldor Electric Co		132,688
614	*	Benchmark Electronics, Inc		10,886
263,523	*	Cisco Systems, Inc		7,133,568
55,334	*	Conexant Systems, Inc		45,927
2,012	*	Cree, Inc		55,270
1,600		CTS Corp		15,888
4,267	*	Ditech Networks, Inc		14,806
1,100	*	Dolby Laboratories, Inc (Class A)		54,692
1,190	*	DTS, Inc		30,428
1,045	*	Energizer Holdings, Inc		117,176
743	*	Energy Conversion Devices, Inc		25,002
3,735	*	Evergreen Solar, Inc		64,503
27,059	*	Finisar Corp		39,236
1,511	*	FuelCell Energy, Inc		14,989
3,603	*	GrafTech International Ltd		63,953
529	*	Greatbatch, Inc		10,575
2,255		Harman International Industries, Inc		166,216
10,982	*	Harmonic, Inc		115,091
277,544		Intel Corp		7,399,323
2,305	*	InterDigital, Inc		53,776
9,556	*	InterVoice, Inc		76,352
1,197		Lincoln Electric Holdings, Inc		85,202
1,157	*	Loral Space & Communications, Inc		39,627
556		LSI Industries, Inc		10,119
39,078	*	LSI Logic Corp		207,504
1,544	*	Medis Technologies Ltd		23,824
154	m,v*	Medis Technologies Ltd		(0)
35,940	*	Micron Technology, Inc		260,565
5,517	*	Microtune, Inc		36,026
9,264		Molex, Inc		252,907
132,309		Motorola, Inc		2,122,236
12,187	*	MRV Communications, Inc		28,274
4,852	*	Novellus Systems, Inc		133,770
16,593	*	ON Semiconductor Corp		147,346
685		Park Electrochemical Corp		19,344
3,798		Plantronics, Inc		98,748
1,283	*	Plexus Corp		33,692
183	*	PLX Technology, Inc		1,702
3,021	*	Polycom, Inc		83,923
2,828	*	Power-One, Inc		11,284
6,111	*	Powerwave Technologies, Inc		24,627
3,708	*	QLogic Corp		52,654
84,870		Qualcomm, Inc		3,339,635
3,393		RadioShack Corp		57,206
11,334	*	RF Micro Devices, Inc		64,717
11,454	*	Silicon Storage Technology, Inc		34,247

365

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
105,947	*	Sirius Satellite Radio, Inc	$	321,019
7,773	*	Sycamore Networks, Inc		29,848
2,634	*	Symmetricom, Inc		12,406
1,509		Technitrol, Inc		43,127
2,450	*	Tekelec		30,625
5,501		Teleflex, Inc		346,618
26,227	*	Tellabs, Inc		171,525
826	*	Tessera Technologies, Inc		34,362
75,184		Texas Instruments, Inc		2,511,146
6,217	*	Thomas & Betts Corp		304,882
12,188	*	Triquint Semiconductor, Inc		80,806
2,358	*	TTM Technologies, Inc		27,494
17,758		Tyco Electronics Ltd		659,355
1,000		Vicor Corp		15,590
1,385		Whirlpool Corp		113,058
12,976		Xilinx, Inc		283,785
1,396	*	Zoltek Cos, Inc		59,847
2,243	*	Zoran Corp		50,490
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		36,572,103
ENGINEERING AND MANAGEMENT SERVICES - 0.64%
2,593	*	Amylin Pharmaceuticals, Inc		95,941
4,094	*	Applera Corp (Celera Genomics Group)		64,972
5,260	*	Ariad Pharmaceuticals, Inc		22,355
15,482	*	Celgene Corp		715,423
505		Corporate Executive Board Co		30,351
908	*	CV Therapeutics, Inc		8,217
353	*	Gen-Probe, Inc		22,214
2,878	*	Harris Interactive, Inc		12,260
5,823	*	Hewitt Associates, Inc (Class A)		222,963
6,439	*	Incyte Corp		64,712
6,339	*	Isis Pharmaceuticals, Inc		99,839
1,213	*	Lifecell Corp		52,292
400	*	Maxygen, Inc		3,212
14,331		Moody's Corp		511,617
21,174		Paychex, Inc		766,922
10,872		Quest Diagnostics, Inc		575,129
2,275	*	Regeneron Pharmaceuticals, Inc		54,941
7,529	*	Rentech, Inc		13,627
3,623	*	Savient Pharmaceuticals, Inc		83,220
19	*	Symyx Technologies, Inc		146
153	*	Telik, Inc		531
3,940	*	Tetra Tech, Inc		84,710
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,505,594
FABRICATED METAL PRODUCTS - 0.91%
400		Ameron International Corp		36,860
2,140		Aptargroup, Inc		87,547
12,482		Commercial Metals Co		367,595
837	*	Commercial Vehicle Group, Inc		12,137
5,878		Dynamic Materials Corp		346,214
2,418		Gulf Island Fabrication, Inc		76,675
55,855		Illinois Tool Works, Inc		2,990,477
1,400		Insteel Industries, Inc		16,422

366

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
3,970		Pentair, Inc	$	138,196
3,830		Silgan Holdings, Inc		198,930
2,125		Snap-On, Inc		102,510
9,648		Stanley Works		467,735
1,496		Valmont Industries, Inc		133,324
		TOTAL FABRICATED METAL PRODUCTS		4,974,622
FOOD AND KINDRED PRODUCTS - 3.40%
23,787		Campbell Soup Co		849,910
700		Corn Products International, Inc		25,725
37,156		General Mills, Inc		2,117,892
28,295		H.J. Heinz Co		1,320,811
1,337	*	Hansen Natural Corp		59,216
14,185		Hershey Co		558,889
911		Imperial Sugar Co		17,099
3,370		J.M. Smucker Co		173,353
2,700	*	Jones Soda Co		20,088
39,264		Kellogg Co		2,058,612
88,282		Kraft Foods, Inc (Class A)		2,880,642
760		Lancaster Colony Corp		30,172
2,052		McCormick & Co, Inc		77,791
4,847		Pepsi Bottling Group, Inc		191,263
4,960		PepsiAmericas, Inc		165,267
82,533		PepsiCo, Inc		6,264,255
25,283		Sara Lee Corp		406,045
1,310		Tootsie Roll Industries, Inc		35,920
23,731		Wrigley (Wm.) Jr Co		1,389,450
		TOTAL FOOD AND KINDRED PRODUCTS		18,642,400
FOOD STORES - 0.26%
16		Arden Group, Inc (Class A)		2,475
315		Great Atlantic & Pacific Tea Co, Inc		9,869
27,263		Safeway, Inc		932,667
8,176		Supervalu, Inc		306,764
4,554		Whole Foods Market, Inc		185,803
		TOTAL FOOD STORES		1,437,578
FORESTRY - 0.18%
3,100		Rayonier, Inc		146,444
11,247		Weyerhaeuser Co		829,354
		TOTAL FORESTRY		975,798
FURNITURE AND FIXTURES - 0.68%
1,540		Herman Miller, Inc		49,881
7,338		Hillenbrand Industries, Inc		408,947
2,660		HNI Corp		93,260
64,177		Johnson Controls, Inc		2,312,939
7,032		Leggett & Platt, Inc		122,638
31,812		Masco Corp		687,457
1,069		Tempur-Pedic International, Inc		27,762
		TOTAL FURNITURE AND FIXTURES		3,702,884
FURNITURE AND HOME FURNISHINGS STORES - 0.06%
10,325	*	Bed Bath & Beyond, Inc		303,452

367

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
2,561		Circuit City Stores, Inc	$	10,756
229	*	Mohawk Industries, Inc		17,038
1,000	*	Pier 1 Imports, Inc		5,230
305		Williams-Sonoma, Inc		7,900
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		344,376
GENERAL BUILDING CONTRACTORS - 0.17%
100		Amrep Corp		3,055
121	*	Avatar Holdings, Inc		5,060
4,810		Centex Corp		121,501
14,817		DR Horton, Inc		195,140
2,209	*	Hovnanian Enterprises, Inc (Class A)		15,839
110		Lennar Corp (B Shares)		1,826
6,515		Lennar Corp (Class A)		116,553
2,519		MDC Holdings, Inc		93,530
391	*	Meritage Homes Corp		5,697
91	*	NVR, Inc		47,684
19,284		Pulte Homes, Inc		203,253
1,133		Ryland Group, Inc		31,214
2,113	*	Standard-Pacific Corp		7,079
5,302	*	Toll Brothers, Inc		106,358
915	*	WCI Communities, Inc		3,459
		TOTAL GENERAL BUILDING CONTRACTORS		957,248
GENERAL MERCHANDISE STORES - 1.21%
457	*	99 Cents Only Stores		3,638
424		Bon-Ton Stores, Inc		4,024
32,358		Costco Wholesale Corp		2,257,294
7,748		Family Dollar Stores, Inc		148,994
13,963		JC Penney Co, Inc		614,232
457	*	Retail Ventures, Inc		2,326
54,634		Target Corp		2,731,700
31,176		TJX Cos, Inc		895,686
		TOTAL GENERAL MERCHANDISE STORES		6,657,894
HEALTH SERVICES - 1.48%
12,036	*	Alliance Imaging, Inc		115,786
761	*	Amsurg Corp		20,593
1,959	*	Bio-Reference Labs, Inc		64,020
2,338		Brookdale Senior Living, Inc		66,423
10,792	*	Community Health Systems, Inc		397,793
1,680	*	Corvel Corp		38,674
4,214	*	DaVita, Inc		237,459
4,317	*	Edwards Lifesciences Corp		198,539
15,734	*	Express Scripts, Inc		1,148,582
27,809		Health Management Associates, Inc (Class A)		166,298
1,386	*	Healthways, Inc		80,998
3,645	*	Hythiam, Inc		10,680
8,159	*	Laboratory Corp of America Holdings		616,249
1,890	*	LHC Group, Inc		47,212
3,299	*	LifePoint Hospitals, Inc		98,112
8,661	*	Lincare Holdings, Inc		304,521
2,817	*	Medcath Corp		69,186
100		National Healthcare Corp		5,170

368

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
6,025	*	Nektar Therapeutics	$	40,428
6,291		Omnicare, Inc		143,498
1,012	*	Pediatrix Medical Group, Inc		68,968
1,884	*	Psychiatric Solutions, Inc		61,230
4,410	*	RehabCare Group, Inc		99,490
2,718	*	Sierra Health Services, Inc		114,047
44,129	*	WellPoint, Inc		3,871,437
		TOTAL HEALTH SERVICES		8,085,393
HOLDING AND OTHER INVESTMENT OFFICES - 1.96%
25,490		Allied Capital Corp		548,035
813		AMB Property Corp		46,796
3,017		American Financial Realty Trust		24,196
4,716		Annaly Mortgage Management, Inc		85,737
4,300		Anworth Mortgage Asset Corp		35,518
3,617		AvalonBay Communities, Inc		340,504
6,867		Boston Properties, Inc		630,459
300		Capital Southwest Corp		35,520
2,455		Cherokee, Inc		79,223
2,500		Colonial Properties Trust		56,575
2,600		Developers Diversified Realty Corp		99,554
8,623		Duke Realty Corp		224,888
28,751		Equity Residential		1,048,549
300		Essex Property Trust, Inc		29,247
153		FelCor Lodging Trust, Inc		2,385
1,190		First Industrial Realty Trust, Inc		41,174
13,255		General Growth Properties, Inc		545,841
700		Gladstone Capital Corp		11,900
4,421		HCP, Inc		153,762
3,450		Health Care REIT, Inc		154,181
2,030		Healthcare Realty Trust, Inc		51,542
153		Highwoods Properties, Inc		4,495
3,683		Hospitality Properties Trust		118,666
29,531		Host Marriott Corp		503,208
4,602		HRPT Properties Trust		35,573
7,087		iStar Financial, Inc		184,616
14,176		Kimco Realty Corp		516,006
2,370		Lexington Corporate Properties Trust		34,460
153		Liberty Property Trust		4,408
10,962	v	Luminent Mortgage Capital, Inc		8,550
2,270		Mack-Cali Realty Corp		77,180
4,785		MFA Mortgage Investments, Inc		44,261
1,300		Mid-America Apartment Communities, Inc		55,575
800		NorthStar Realty Finance Corp		7,136
1,510		Pennsylvania Real Estate Investment Trust		44,817
1,000		Post Properties, Inc		35,120
1,447		Potlatch Corp		64,305
14,889		Prologis		943,665
9,542		Public Storage, Inc		700,478
1,490		Realty Income Corp		40,260
16,758		Simon Property Group, Inc		1,455,600
913		Tarragon Corp		1,370
15,866		Virgin Media, Inc		271,943
10,068		Vornado Realty Trust		885,481

369

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
3,243		WABCO Holdings, Inc	$	162,442
10,011		Weingarten Realty Investors		314,746
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		10,759,947
HOTELS AND OTHER LODGING PLACES - 0.29%
10,829		Choice Hotels International, Inc		359,523
7,745	*	Gaylord Entertainment Co		313,440
15,105	*	Great Wolf Resorts, Inc		148,180
8,627	*	Lodgian, Inc		97,140
4,234		Marcus Corp		65,415
18,371		Marriott International, Inc (Class A)		627,921
		TOTAL HOTELS AND OTHER LODGING PLACES		1,611,619
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.57%
7,890	*	AGCO Corp		536,362
1,565		Ampco-Pittsburgh Corp		59,673
73,058		Applied Materials, Inc		1,297,510
1,445	*	Astec Industries, Inc		53,740
8,648	*	Axcelis Technologies, Inc		39,781
4,025		Black & Decker Corp		280,341
1,585		Briggs & Stratton Corp		35,916
1,852	*	Brooks Automation, Inc		24,465
757		Cascade Corp		35,170
1,693	*	Columbus McKinnon Corp		55,226
7,654		Cummins, Inc		974,890
39,598		Deere & Co		3,687,366
113,457	*	Dell, Inc		2,780,831
985		Donaldson Co, Inc		45,684
1,851	*	Dril-Quip, Inc		103,027
103,156	*	EMC Corp		1,911,481
2,214	*	Emulex Corp		36,132
5,176	*	ENGlobal Corp		58,799
3,442	*	Entegris, Inc		29,704
233	*	Extreme Networks, Inc		825
605		Flowserve Corp		58,201
4,082	*	FMC Technologies, Inc		231,449
400	*	Gardner Denver, Inc		13,200
1,756	*	Gehl Co		28,166
8,135		Graco, Inc		303,110
15,045	*	Grant Prideco, Inc		835,148
130,512		Hewlett-Packard Co		6,588,246
1,629	*	Intermec, Inc		33,085
67,964		International Business Machines Corp		7,346,908
2,132	*	Intevac, Inc		30,999
5,599	*	Lam Research Corp		242,045
837		Lennox International, Inc		34,669
3,804	*	Lexmark International, Inc (Class A)		132,607
1,117		Lufkin Industries, Inc		63,993
7,726		Manitowoc Co, Inc		377,261
3,855		Modine Manufacturing Co		63,646
2,884		Nordson Corp		167,157
1,537	*	Oil States International, Inc		52,442
4,326		Pall Corp		174,424
634	*	Rackable Systems, Inc		6,340

370

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
305		Sauer-Danfoss, Inc	$	7,640
4,004	*	Semitool, Inc		34,755
4,222	*	Sigma Designs, Inc		233,054
7,205	*	SourceForge, Inc		17,652
2,241		SPX Corp		230,487
6,075		Tennant Co		269,062
2,840	*	Terex Corp		186,219
9,729		Trane, Inc		454,442
1,235	*	TurboChef Technologies, Inc		20,378
840	*	Ultratech, Inc		9,526
4,152	*	Varian Medical Systems, Inc		216,568
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		30,509,802
INSTRUMENTS AND RELATED PRODUCTS - 5.71%
3,204	*	Advanced Medical Optics, Inc		78,594
1,715	*	Affymetrix, Inc		39,685
377		Analogic Corp		25,530
4,250		Bard (C.R.), Inc		402,900
44,483		Baxter International, Inc		2,582,238
6,177		Beckman Coulter, Inc		449,686
21,214		Becton Dickinson & Co		1,773,066
1,350	*	Bruker BioSciences Corp		17,955
1,436	*	Cepheid, Inc		37,839
529		Cooper Cos, Inc		20,102
18,888		Covidien Ltd		836,550
17,723	*	Credence Systems Corp		42,890
11,079		Dentsply International, Inc		498,777
74,800		Emerson Electric Co		4,238,168
1,066	*	Flir Systems, Inc		33,366
553	*	Formfactor, Inc		18,304
1,338	*	Hologic, Inc		91,840
1,091	*	Illumina, Inc		64,653
988	*	Intuitive Surgical, Inc		320,606
7,191	*	ION Geophysical Corp		113,474
350	*	Itron, Inc		33,590
3,346	*	Ixia		31,720
130,029		Johnson & Johnson		8,672,934
7,190		Kla-Tencor Corp		346,270
82	*	L-1 Identity Solutions, Inc		1,472
4,280	*	LTX Corp		13,610
70,396		Medtronic, Inc		3,538,807
220	*	Mettler-Toledo International, Inc		25,036
1,678	*	Millipore Corp		122,796
1,550	*	MKS Instruments, Inc		29,667
980		Movado Group, Inc		24,784
606	*	OYO Geospace Corp		45,668
19,871		Pitney Bowes, Inc		755,893
381	*	Resmed, Inc		20,014
310	*	Respironics, Inc		20,299
610	*	Rofin-Sinar Technologies, Inc		29,347
1,913		Roper Industries, Inc		119,639
17,611	*	St. Jude Medical, Inc		715,711
4,870		STERIS Corp		140,451
21,298		Stryker Corp		1,591,387

371

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
987	*	Techne Corp	$	65,191
22,435	*	Thermo Electron Corp		1,294,051
4,485	*	Waters Corp		354,629
41,037		Xerox Corp		664,389
1,902	*	X-Rite, Inc		22,101
13,948	*	Zimmer Holdings, Inc		922,660
800	*	Zygo Corp		9,968
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		31,298,307
INSURANCE AGENTS, BROKERS AND SERVICE - 0.47%
5,671		Brown & Brown, Inc		133,269
7,075		Crawford & Co (Class B)		29,361
27,911		Hartford Financial Services Group, Inc		2,433,560
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		2,596,190
INSURANCE CARRIERS - 4.18%
37,611		Aetna, Inc		2,171,283
51,723		Aflac, Inc		3,239,411
70	*	Alleghany Corp		28,140
9,279		Ambac Financial Group, Inc		239,120
3,447		American Financial Group, Inc		99,549
510		American Physicians Capital, Inc		21,145
3,040	*	AMERIGROUP Corp		110,808
5,951		Assurant, Inc		398,122
7,465		Axis Capital Holdings Ltd		290,911
1,565	*	Centene Corp		42,944
42,718		Chubb Corp		2,331,548
21,632		Cincinnati Financial Corp		855,329
4,323		Commerce Group, Inc		155,542
6,428		Endurance Specialty Holdings Ltd		268,240
3,675		Erie Indemnity Co (Class A)		190,696
3,844		Everest Re Group Ltd		385,938
30,481		Genworth Financial, Inc (Class A)		775,741
1,217		Hanover Insurance Group, Inc		55,739
2,922		HCC Insurance Holdings, Inc		83,803
1,192	*	HealthExtras, Inc		31,087
500		LandAmerica Financial Group, Inc		16,725
27,592		Lincoln National Corp		1,606,406
613	*	Markel Corp		301,044
11,293		MBIA, Inc		210,389
5,895		Mercury General Corp		293,630
6,699		MGIC Investment Corp		150,259
1,311	*	Molina Healthcare, Inc		50,736
5,800		Nationwide Financial Services, Inc (Class A)		261,058
1,407		Odyssey Re Holdings Corp		51,651
2,574		Phoenix Cos, Inc		30,553
3,089		PMI Group, Inc		41,022
21,379		Principal Financial Group		1,471,730
58,615	*	Progressive Corp		1,123,063
985		Protective Life Corp		40,405
3,750		Radian Group, Inc		43,800
900		RenaissanceRe Holdings Ltd		54,216
16,144		Safeco Corp		898,898
381		Stancorp Financial Group, Inc		19,195

372

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
1,100		Tower Group, Inc	$	36,740
56,115		Travelers Cos, Inc		3,018,987
2,930		Unitrin, Inc		140,611
15,039		UnumProvident Corp		357,778
7,492		W.R. Berkley Corp		223,337
2,422	*	WellCare Health Plans, Inc		102,717
12,186		XL Capital Ltd (Class A)		613,078
		TOTAL INSURANCE CARRIERS		22,933,124
LEATHER AND LEATHER PRODUCTS - 0.12%
19,812	*	Coach, Inc		605,851
2,309		Weyco Group, Inc		63,498
		TOTAL LEATHER AND LEATHER PRODUCTS		669,349
LUMBER AND WOOD PRODUCTS - 0.01%
3,817	*	Champion Enterprises, Inc		35,956
300		Skyline Corp		8,805
		TOTAL LUMBER AND WOOD PRODUCTS		44,761
METAL MINING - 0.12%
6,475	*	Apex Silver Mines Ltd		98,679
2,358	*	Rosetta Resources, Inc		46,759
16,508		Royal Gold, Inc		503,824
		TOTAL METAL MINING		649,262
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.32%
1,840		Callaway Golf Co		32,071
1,145		Daktronics, Inc		25,843
2,536		Marine Products Corp		17,777
44,090		Mattel, Inc		839,474
390		Nautilus, Inc		1,892
2,690	*	RC2 Corp		75,508
4,902	*	Russ Berrie & Co, Inc		80,197
17,678		Tyco International Ltd		700,933
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,773,695
MISCELLANEOUS RETAIL - 1.06%
15,240	*	Amazon.com, Inc		1,411,834
16,007		Best Buy Co, Inc		842,769
658	*	Coldwater Creek, Inc		4,402
1,162	*	Dollar Tree Stores, Inc		30,119
5,064	*	GSI Commerce, Inc		98,748
315	*	Nutri/System, Inc		8,499
7,939	*	Office Depot, Inc		110,431
130	*	Overstock.com, Inc		2,019
1,100		Petsmart, Inc		25,883
129	*	Priceline.com, Inc		14,817
34,295		Staples, Inc		791,186
2,200		Systemax, Inc		44,704
3,347		Tiffany & Co		154,062
51,592		Walgreen Co		1,964,623
11,054		World Fuel Services Corp		320,898
		TOTAL MISCELLANEOUS RETAIL		5,824,994

373

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
MOTION PICTURES - 1.22%
457	*	Avid Technology, Inc	$	12,951
19,316	*	Discovery Holding Co (Class A)		485,604
6,671	*	DreamWorks Animation SKG, Inc (Class A)		170,377
2,881		Regal Entertainment Group (Class A)		52,060
257,007		Time Warner, Inc		4,243,186
38,654	*	Viacom, Inc (Class B)		1,697,684
		TOTAL MOTION PICTURES		6,661,862
NONDEPOSITORY INSTITUTIONS - 1.56%
3,413		Advanta Corp (Class A)		24,915
16,827		American Capital Strategies Ltd		554,618
75,529		American Express Co		3,929,018
7,241	*	AmeriCredit Corp		92,612
2,090		Asta Funding, Inc		55,260
25,825		Capital One Financial Corp		1,220,489
7,796		CapitalSource, Inc		137,132
1,937		Centerline Holding Co		14,760
3,035	*	Credit Acceptance Corp		62,733
2,741		Federal Agricultural Mortgage Corp (Class C)		72,143
5,879		First Marblehead Corp		89,949
57,995		Freddie Mac		1,975,890
1,916	*	Guaranty Financial Group, Inc		30,667
2,690	*	INVESTools, Inc		47,721
12,645		MCG Capital Corp		146,555
2,737		Nelnet, Inc (Class A)		34,787
1,600	*	PHH Corp		28,224
1,293	*	World Acceptance Corp		34,885
		TOTAL NONDEPOSITORY INSTITUTIONS		8,552,358
NONMETALLIC MINERALS, EXCEPT FUELS - 0.21%
9,173		AMCOL International Corp		330,503
520		Compass Minerals International, Inc		21,320
9,839		Vulcan Materials Co		778,167
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		1,129,990
OIL AND GAS EXTRACTION - 4.64%
4,178		Atlas America, Inc		247,254
1,916	*	ATP Oil & Gas Corp		96,835
290	*	Atwood Oceanics, Inc		29,070
5,254		Berry Petroleum Co (Class A)		233,540
3,340	*	Bronco Drilling Co, Inc		49,599
10,752	*	Callon Petroleum Co		176,870
9,212	*	Cameron International Corp		443,374
837	*	Carrizo Oil & Gas, Inc		45,826
7,781	*	Cheniere Energy, Inc		253,972
41,346		Chesapeake Energy Corp		1,620,763
8,707		Cimarex Energy Co		370,309
1,030	*	Complete Production Services, Inc		18,509
2,924	*	Contango Oil & Gas Co		148,802
3,319	*	Delta Petroleum Corp		62,563
35,534	*	Denbury Resources, Inc		1,057,137
4,054	*	Edge Petroleum Corp		24,040
2,970	*	Encore Acquisition Co		99,109

374

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
17,467		ENSCO International, Inc	$	1,041,383
32,654		Equitable Resources, Inc		1,739,805
1,370	*	EXCO Resources, Inc		21,208
1,003	*	Exterran Holdings, Inc		82,045
6,238	*	Forest Oil Corp		317,140
11,751	*	GeoGlobal Resources, Inc		58,167
5,515	*	Global Industries Ltd		118,131
2,553	*	GMX Resources, Inc		82,411
3,331	*	Goodrich Petroleum Corp		75,347
8,031	*	Grey Wolf, Inc		42,805
4,267	*	Helix Energy Solutions Group, Inc		177,081
18,533		Helmerich & Payne, Inc		742,617
6,352	*	McMoRan Exploration Co		83,148
38,009	*	Meridian Resource Corp		68,796
13,435	*	Nabors Industries Ltd		367,985
21,794	*	National Oilwell Varco, Inc		1,600,987
13,730		Noble Corp		775,882
1,457	*	Oceaneering International, Inc		98,129
3,912	*	Parallel Petroleum Corp		68,969
15,790	*	PetroHawk Energy Corp		273,325
3,326	*	Petroleum Development Corp		196,666
4,283	*	Petroquest Energy, Inc		61,247
13,623		Pioneer Natural Resources Co		665,347
15,981	*	Plains Exploration & Production Co		862,974
15,119	*	Pride International, Inc		512,534
6,355	*	Quicksilver Resources, Inc		378,694
10,154		Range Resources Corp		521,509
7,705		Rowan Cos, Inc		304,039
2,430		RPC, Inc		28,455
15,277		Smith International, Inc		1,128,206
7,429	*	Southwestern Energy Co		413,944
3,978		St. Mary Land & Exploration Co		153,591
3,305	*	Stone Energy Corp		155,038
1,765	*	Superior Energy Services		60,751
5,466	*	Swift Energy Co		240,668
9,332		Tidewater, Inc		511,954
4,765	*	Toreador Resources Corp		33,307
24,806		Transocean, Inc		3,550,979
3,817	*	TXCO Resources, Inc		46,033
2,413	*	Unit Corp		111,601
3,860	*	Venoco, Inc		76,930
3,098		W&T Offshore, Inc		92,816
1,141	*	Warren Resources, Inc		16,122
2,141	*	Whiting Petroleum Corp		123,450
46,390		XTO Energy, Inc		2,382,590
		TOTAL OIL AND GAS EXTRACTION		25,442,378
PAPER AND ALLIED PRODUCTS - 0.89%
1,702	*	AbitibiBowater, Inc		35,078
8,656		Bemis Co		237,001
6,951	*	Buckeye Technologies, Inc		86,888
3,850	*	Chesapeake Corp		19,982
2,495	*	Domtar Corporation		19,187
2,230		Glatfelter		34,141

375

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
21,080		International Paper Co	$	682,570
33,583		Kimberly-Clark Corp		2,328,645
21,921		MeadWestvaco Corp		686,127
6,848		Packaging Corp of America		193,114
2,117		Rock-Tenn Co (Class A)		53,793
108	*	Smurfit-Stone Container Corp		1,140
10,915		Sonoco Products Co		356,702
5,750		Temple-Inland, Inc		119,888
1,674		Wausau Paper Corp		15,049
		TOTAL PAPER AND ALLIED PRODUCTS		4,869,305
PERSONAL SERVICES - 0.04%
5,300		Regis Corp		148,188
1,350		Unifirst Corp		51,300
605		Weight Watchers International, Inc		27,334
		TOTAL PERSONAL SERVICES		226,822
PETROLEUM AND COAL PRODUCTS - 4.06%
4,065		Alon USA Energy, Inc		110,487
34,996		Apache Corp		3,763,470
1,950		Ashland, Inc		92,489
7,400		Cabot Oil & Gas Corp		298,738
39,527		Devon Energy Corp		3,514,346
26,151		EOG Resources, Inc		2,333,977
20,224		Frontier Oil Corp		820,690
4,345	*	Headwaters, Inc		51,010
24,168		Hess Corp		2,437,584
5,307		Holly Corp		270,073
17,506		Murphy Oil Corp		1,485,209
12,082	*	Newfield Exploration Co		636,721
27,659		Noble Energy, Inc		2,199,444
15,294		Sunoco, Inc		1,107,897
41,781		Valero Energy Corp		2,925,923
8,182		Western Refining, Inc		198,086
		TOTAL PETROLEUM AND COAL PRODUCTS		22,246,144
PIPELINES, EXCEPT NATURAL GAS - 0.31%
66,510		Spectra Energy Corp		1,717,288
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,717,288
PRIMARY METAL INDUSTRIES - 1.66%
25,522		Alcoa, Inc		932,829
1,782		Allegheny Technologies, Inc		153,965
2,263	*	Brush Engineered Materials, Inc		83,776
10,959	*	Century Aluminum Co		591,128
1,741	*	CommScope, Inc		85,675
71,964		Corning, Inc		1,726,416
457		Encore Wire Corp		7,275
5,633		Gibraltar Industries, Inc		86,861
3,906		Hubbell, Inc (Class B)		201,550
3,678	*	LB Foster Co (Class A)		190,263
5,488		Mueller Industries, Inc		159,097
30,078		Nucor Corp		1,781,219
4,390		Olympic Steel, Inc		139,207

376

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,517		Quanex Corp	$	234,432
11,880		Steel Dynamics, Inc		707,692
6,210		Tredegar Corp		99,857
12,639		United States Steel Corp		1,528,181
22,593		Worthington Industries, Inc		403,963
		TOTAL PRIMARY METAL INDUSTRIES		9,113,386
PRINTING AND PUBLISHING - 0.73%
761	*	ACCO Brands Corp		12,206
5,599		Dun & Bradstreet Corp		496,239
11,279		EW Scripps Co (Class A)		507,668
4,867		Harte-Hanks, Inc		84,199
1,520		John Wiley & Sons, Inc (Class A)		65,117
1,890		Lee Enterprises, Inc		27,688
32,740		McGraw-Hill Cos, Inc		1,434,339
4,910		Meredith Corp		269,952
23,435		New York Times Co (Class A)		410,816
2,170		R.H. Donnelley Corp		79,162
2,304		Standard Register Co		26,865
822	*	Valassis Communications, Inc		9,609
749		Washington Post Co (Class B)		592,781
		TOTAL PRINTING AND PUBLISHING		4,016,641
RAILROAD TRANSPORTATION - 0.72%
33,188		CSX Corp		1,459,608
533	*	Genesee & Wyoming, Inc (Class A)		12,882
3,987	*	Kansas City Southern Industries, Inc		136,874
46,188		Norfolk Southern Corp		2,329,723
		TOTAL RAILROAD TRANSPORTATION		3,939,087
REAL ESTATE - 0.07%
8,458	*	CB Richard Ellis Group, Inc (Class A)		182,270
1,693		Forest City Enterprises, Inc (Class A)		75,237
1,916	*	Forestar Real Estate Group, Inc		45,214
229		Jones Lang LaSalle, Inc		16,296
7,397		Stewart Enterprises, Inc (Class A)		65,833
		TOTAL REAL ESTATE		384,850
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.46%
190	*	Deckers Outdoor Corp		29,461
34,216		Nike, Inc (Class B)		2,198,036
6,090		Sealed Air Corp		140,923
1,937		Spartech Corp		27,312
3,250		Tupperware Corp		107,348
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		2,503,080
SECURITY AND COMMODITY BROKERS - 3.37%
8,428		Ameriprise Financial, Inc		464,467
2,193		BlackRock, Inc		475,442
59,757		Charles Schwab Corp		1,526,791
2,215		CME Group, Inc		1,519,490
13,920	*	E*Trade Financial Corp		49,416
1,433		Eaton Vance Corp		65,072
2,216		Federated Investors, Inc (Class B)		91,211

377

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
18,587		Franklin Resources, Inc	$	2,126,910
24,221		Goldman Sachs Group, Inc		5,208,726
3,201	*	IntercontinentalExchange, Inc		616,192
153	*	Investment Technology Group, Inc		7,281
6,969		Janus Capital Group, Inc		228,932
4,704		Legg Mason, Inc		344,098
60,764		Merrill Lynch & Co, Inc		3,261,812
3,410	*	Nasdaq Stock Market, Inc		168,761
2,465		Nymex Holdings, Inc		329,349
8,900		NYSE Euronext		781,153
6,886		SEI Investments Co		221,523
15,917		T Rowe Price Group, Inc		969,027
		TOTAL SECURITY AND COMMODITY BROKERS		18,455,653
SOCIAL SERVICES - 0.01%
6,300	*	Capital Senior Living Corp		62,559
		TOTAL SOCIAL SERVICES		62,559
SPECIAL TRADE CONTRACTORS - 0.04%
1,785	*	Layne Christensen Co		87,840
5,566	*	Quanta Services, Inc		146,052
		TOTAL SPECIAL TRADE CONTRACTORS		233,892
STONE, CLAY, AND GLASS PRODUCTS - 0.86%
50,469		3M Co		4,255,546
241		Apogee Enterprises, Inc		4,124
180	*	Cabot Microelectronics Corp		6,464
2,629		CARBO Ceramics, Inc		97,799
4,165		Eagle Materials, Inc		147,774
8,376		Gentex Corp		148,842
2,200	*	Owens Corning, Inc		44,484
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		4,705,033
TRANSPORTATION BY AIR - 0.59%
1,560	*	Air Methods Corp		77,485
5,465	*	Airtran Holdings, Inc		39,129
1,694	*	Alaska Air Group, Inc		42,367
8,842	*	AMR Corp		124,053
9,148	*	Continental Airlines, Inc (Class B)		203,543
10,259	*	ExpressJet Holdings, Inc		25,442
19,695		FedEx Corp		1,756,203
8,660	*	JetBlue Airways Corp		51,094
800	*	PHI, Inc		24,816
4,790		Skywest, Inc		128,612
62,052		Southwest Airlines Co		757,034
		TOTAL TRANSPORTATION BY AIR		3,229,778
TRANSPORTATION EQUIPMENT - 1.26%
1,141	*	Accuride Corp		8,968
381	*	Aftermarket Technology Corp		10,386
5,056		American Axle & Manufacturing Holdings, Inc		94,143
6,501		ArvinMeritor, Inc		76,257
12,751		Autoliv, Inc		672,105
26,672	*	BE Aerospace, Inc		1,410,949

378

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
429		Federal Signal Corp	$	4,813
22,558		Genuine Parts Co		1,044,435
20,643		Harley-Davidson, Inc		964,235
8,970		Harsco Corp		574,708
1,838		Noble International Ltd		29,978
19,966		Paccar, Inc		1,087,748
17,535	*	Spirit Aerosystems Holdings, Inc (Class A)		604,958
6,160		Superior Industries International, Inc		111,927
2,552	*	Tenneco, Inc		66,531
985		Thor Industries, Inc		37,440
12,199	*	Visteon Corp		53,554
2,265		Westinghouse Air Brake Technologies Corp		78,007
		TOTAL TRANSPORTATION EQUIPMENT		6,931,142
TRANSPORTATION SERVICES - 0.05%
2,563		CH Robinson Worldwide, Inc		138,710
3,054		Expeditors International Washington, Inc		136,453
		TOTAL TRANSPORTATION SERVICES		275,163
TRUCKING AND WAREHOUSING - 0.66%
51,410		United Parcel Service, Inc (Class B)		3,635,715
		TOTAL TRUCKING AND WAREHOUSING		3,635,715
WATER TRANSPORTATION - 0.08%
2,390		Alexander & Baldwin, Inc		123,467
3,549	*	Gulfmark Offshore, Inc		166,058
2,713	*	Hornbeck Offshore Services, Inc		121,949
		TOTAL WATER TRANSPORTATION		411,474
WHOLESALE TRADE-DURABLE GOODS - 0.55%
900		Agilysys, Inc		13,608
15,600		Barnes Group, Inc		520,884
5,640		BorgWarner, Inc		273,032
3,816		Castle (A.M.) & Co		103,757
12,156		IKON Office Solutions, Inc		158,271
743		Martin Marietta Materials, Inc		98,522
1,841	*	MWI Veterinary Supply, Inc		73,640
890		Owens & Minor, Inc		37,763
10,210	*	Patterson Cos, Inc		346,630
9,564		Reliance Steel & Aluminum Co		518,369
153	*	Tech Data Corp		5,771
2,050	*	Tyler Technologies, Inc		26,424
8,812		W.W. Grainger, Inc		771,226
1,743	*	WESCO International, Inc		69,092
		TOTAL WHOLESALE TRADE-DURABLE GOODS		3,016,989
WHOLESALE TRADE-NONDURABLE GOODS - 0.47%
681		Airgas, Inc		35,487
6,350	*	Akorn, Inc		46,609
3,061	*	Allscripts Healthcare Solutions, Inc		59,445
1,522		Dean Foods Co		39,359
8,320	*	Endo Pharmaceuticals Holdings, Inc		221,894
2,117	*	Henry Schein, Inc		129,984
6,731		Idearc, Inc		118,196

379

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
300		Men's Wearhouse, Inc	$	8,094
1,817		Nash Finch Co		64,104
2,716		Spartan Stores, Inc		62,060
56,556		Sysco Corp		1,765,113
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,550,345
		TOTAL COMMON STOCKS		542,969,782
		(Cost $492,605,758)
PRINCIPAL
SHORT-TERM INVESTMENTS - 0.74%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.74%
$        4,050,000		Federal Home Loan Bank (FHLB) 0.000%, 01/02/08		4,050,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		4,050,000
		TOTAL SHORT-TERM INVESTMENTS		4,050,000
		(Cost $4,049,634)
		TOTAL PORTFOLIO - 99.81%		547,019,782
		(Cost $496,655,392)
		OTHER ASSETS & LIABILITIES, NET - 0.19%		1,036,999
		NET ASSETS - 100.00%	$	548,056,781
	*	Non-income producing
		At December 31, 2007, the unrealized appreciation on investments was $50,364,390 consisting of
		gross unrealized appreciation of $89,173,047 and gross unrealized depreciation of $38,808,657.

380

TIAA-CREF INSTITUTIONAL MUTUALS FUNDS - Real Estate Securities Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
REAL ESTATE SECURITIES FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
COMMON STOCKS - 100.05%
HOLDING AND OTHER INVESTMENT OFFICES - 91.33%
204,700	e	Acadia Realty Trust	$	5,242,367
40,000	e	Alexandria Real Estate Equities, Inc		4,066,800
213,000		AMB Property Corp		12,260,280
98,100		American Campus Communities, Inc		2,633,985
120,500	e	Associated Estates Realty Corp		1,137,520
257,900		AvalonBay Communities, Inc		24,278,706
47,000		Boardwalk Real Estate Investment Trust		2,121,536
349,600		Boston Properties, Inc		32,096,776
117,700	e	Camden Property Trust		5,667,255
206,900	e	Corporate Office Properties Trust		6,517,350
140,000		DCT Industrial Trust, Inc		1,303,400
67,000	e	DiamondRock Hospitality Co		1,003,660
61,100	e	Digital Realty Trust, Inc		2,344,407
141,000		Douglas Emmett, Inc		3,188,010
186,807		EastGroup Properties, Inc		7,817,873
64,000	e	Entertainment Properties Trust		3,008,000
29,000		Equity Lifestyle Properties, Inc		1,324,430
414,300		Equity Residential		15,109,521
127,600		Essex Property Trust, Inc		12,439,724
279,000		Federal Realty Investment Trust		22,919,850
178,200		General Growth Properties, Inc		7,338,276
87,000		Gramercy Capital Corp		2,114,970
140,000	g,m,v*	GSC Capital Corp		271,600
524,000		HCP, Inc		18,224,720
831,588		Host Marriott Corp		14,170,260
289,000		iShares Dow Jones US Real Estate Index Fund		18,987,300
45,000	e	Kilroy Realty Corp		2,473,200
167,300		Kimco Realty Corp		6,089,720
53,000		LaSalle Hotel Properties		1,690,700
247,300	e	Macerich Co		17,573,138
58,000		Maguire Properties, Inc		1,709,260
740,822	e	Mission West Properties, Inc		7,045,217
170,000		Nationwide Health Properties, Inc		5,332,900
211,200	g,m,v*	People's Choice Financial Corp		(0	)
254,600		Post Properties, Inc		8,941,552
507,000		Prologis		32,133,660
251,400		Public Storage, Inc		18,455,274
313,800		Regency Centers Corp		20,236,962
98,000		RioCan Real Estate Investment Trust		2,166,635
540,900	e	Simon Property Group, Inc		46,982,574
190,000	e	SL Green Realty Corp		17,757,400
280,500		Strategic Hotels & Resorts, Inc		4,692,765
133,000		Sun Communities, Inc		2,802,310
361,300		Taubman Centers, Inc		17,772,347
152,000		UDR, Inc		3,017,200

381

TIAA-CREF INSTITUTIONAL MUTUALS FUNDS - Real Estate Securities Fund
SHARES		COMPANY		VALUE
403,000		Ventas, Inc	$	18,235,750
300,400		Vornado Realty Trust		26,420,180
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		489,117,320
HOTELS AND OTHER LODGING PLACES - 2.87%
55,900		Accor S.A.		4,470,555
77,000		Marriott International, Inc (Class A)		2,631,860
187,900	e	Starwood Hotels & Resorts Worldwide, Inc		8,273,237
		TOTAL HOTELS AND OTHER LODGING PLACES		15,375,652
JUSTICE, PUBLIC ORDER AND SAFETY - 1.43%
260,000	e*	Corrections Corp of America		7,672,600
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		7,672,600
REAL ESTATE - 4.42%
2,000,000		Allgreen Properties Ltd		2,070,235
310,000	g,m,v	Asset Capital Corp, Inc		1,584,100
56,000		British Land Co plc		1,053,426
76,800	*	Brookfield Properties Corp		1,478,400
350,000		City Developments Ltd		3,452,708
2,090,000		Greentown China Holdings Ltd		3,264,704
103,000		Hammerson plc		2,101,576
31,728,000		Lai Fung Holdings Ltd		1,607,274
8,900,000		Shanghai Real Estate Ltd		2,259,984
357,000		Thomas Properties Group, Inc		3,848,460
1,600,000	*	Zhong An Real Estate Ltd		939,801
		TOTAL REAL ESTATE		23,660,668
		TOTAL COMMON STOCKS		535,826,240
		(Cost $593,077,043)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 0.89%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.89%
$        4,770,000		Federal Home Loan Bank (FHLB) 0.000%, 01/02/08		4,770,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		4,770,000
		TOTAL SHORT-TERM INVESTMENTS		4,770,000
		(Cost $4,769,569)
		TOTAL PORTFOLIO - 100.94%		540,596,240
		(Cost $597,846,612)
		OTHER ASSETS & LIABILITIES, NET - (0.94)%		(5,056,716	)
		NET ASSETS - 100.00%	$	535,539,524
	*	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 December 31, 2007, the value of these securities amounted to $1,855,700 or 0.35% of net assets.

382

TIAA-CREF INSTITUTIONAL MUTUALS FUNDS - Real Estate Securities Fund

m	Indicates a security has been deemed illiquid
v	Security valued at fair value.
	At December 31, 2007, the unrealized depreciation on investments was $57,250,372, consisting of
	gross unrealized appreciation of $13,644,107 and gross unrealized depreciation of $70,894,479.

383

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Managed Allocation Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MANAGED ALLOCATION FUND II
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
SHARES		COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 100.00%
23,228,497	q	TIAA-CREF Institutional Bond Plus Fund II	$	233,678,688
9,123	q	TIAA-CREF Institutional High-Yield Fund II		88,493
5,876,888	q	TIAA-CREF Institutional International Equity Fund		77,751,234
13,599,148	q	TIAA-CREF Institutional Large-Cap Growth Fund		158,566,067
9,598,183	q	TIAA-CREF Institutional Large-Cap Value Fund		142,629,009
6,610	q	TIAA-CREF Institutional Short-Term Bond Fund II		66,573
1,930,794	q	TIAA-CREF Institutional Small-Cap Equity Fund		26,142,959
		TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		638,923,023
		(Cost $606,999,752)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 0.03%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.03%
$        180,000		Federal Home Loan Bank (FHLB) 0.000%, 01/02/08		180,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		180,000
		TOTAL SHORT-TERM INVESTMENTS		180,000
		(Cost $179,984)
		TOTAL PORTFOLIO - 100.03%		639,103,023
		(Cost $607,179,736)
		OTHER ASSETS & LIABILITIES, NET - (0.03)%		(197,014	)
		NET ASSETS - 100.00%	$	638,906,009
	q	Affiliated fund.
		At December 31, 2007, the unrealized appreciation on investments was $31,923,287 consisting of
		gross unrealized appreciation of $35,595,233 and gross unrealized depreciation of $3,671,946.

384

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
BOND FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
BONDS - 79.85%
CORPORATE BONDS - 19.02%
AMUSEMENT AND RECREATION SERVICES - 0.16%
$        1,480,000		Walt Disney Co	5.700%	07/15/11	A2	$	1,542,705
1,250,000		Walt Disney Co	4.700	12/01/12	A2		1,249,959
		TOTAL AMUSEMENT AND RECREATION SERVICES					2,792,664
APPAREL AND ACCESSORY STORES - 0.06%
1,000,000		Kohl's Corp	6.250	12/15/17	Baa1		1,004,741
		TOTAL APPAREL AND ACCESSORY STORES					1,004,741
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.14%
1,000,000		Home Depot, Inc	5.400	03/01/16	Baa1		947,449
1,350,000		Lowe's Cos, Inc	8.250	06/01/10	A1		1,474,941
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					2,422,390
BUSINESS SERVICES - 0.12%
670,000		Daimler Finance North America LLC	5.875	03/15/11	A3		679,848
1,350,000		Daimler Finance North America LLC	5.750	09/08/11	A3		1,370,048
		TOTAL BUSINESS SERVICES					2,049,896
CHEMICALS AND ALLIED PRODUCTS - 0.46%
370,000		Abbott Laboratories	5.600	05/15/11	A1		383,188
2,250,000	g	Amgen, Inc	5.850	06/01/17	A2		2,283,998
600,000		Clorox Co	5.950	10/15/17	Baa1		597,730
740,000		Ecolab, Inc	6.875	02/01/11	A2		793,270
1,105,000		EI Du Pont de Nemours & Co	4.125	03/06/13	A2		1,067,794
1,300,000		Johnson & Johnson	5.950	08/15/37	Aaa		1,402,965
250,000		Lubrizol Corp	4.625	10/01/09	Baa3		251,064
1,200,000		Praxair, Inc	5.250	11/15/14	A2		1,209,283
		TOTAL CHEMICALS AND ALLIED PRODUCTS					7,989,292
COMMUNICATIONS - 2.10%
650,000		America Movil SAB de C.V.	6.125	11/15/37	A3		618,972
16,000		AT&T Corp	6.000	03/15/09	WR		16,226
2,500,000		AT&T, Inc	5.100	09/15/14	A2		2,474,138
940,000		AT&T, Inc	6.150	09/15/34	A2		938,426
1,350,000		AT&T, Inc	6.500	09/01/37	A2		1,411,665
1,650,000		AT&T, Inc	6.300	01/15/38	A2		1,676,388
180,000		BellSouth Corp	6.875	10/15/31	A2		191,907
1,000,000		Comcast Corp	6.300	11/15/17	Baa2		1,037,527
4,000,000		Comcast Corp	5.875	02/15/18	Baa2		3,987,948
1,180,000		Comcast Corp	5.650	06/15/35	Baa2		1,080,105
270,000		Comcast Corp	6.500	11/15/35	Baa2		275,519
900,000		Comcast Corp	6.950	08/15/37	Baa2		971,345

385

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        950,000		Deutsche Telekom International Finance BV	8.250%	06/15/30	A3	$	1,185,364
1,330,000		France Telecom S.A.	7.750	03/01/11	A3		1,429,517
1,330,000		New Cingular Wireless Services, Inc	7.875	03/01/11	A3		1,440,345
370,000		New Cingular Wireless Services, Inc	8.750	03/01/31	A3		479,514
750,000	e	Rogers Wireless, Inc	7.500	03/15/15	Baa3		820,189
2,530,000		Sprint Capital Corp	8.375	03/15/12	Baa3		2,740,051
1,000,000		Sprint Capital Corp	8.750	03/15/32	Baa3		1,127,198
1,400,000		Telefonica Emisiones SAU	6.221	07/03/17	Baa1		1,454,589
1,700,000		Time Warner Cable, Inc	5.400	07/02/12	Baa2		1,703,417
2,300,000		Time Warner Cable, Inc	5.850	05/01/17	Baa2		2,305,676
670,000		Verizon New England, Inc	4.750	10/01/13	Baa1		644,407
1,120,000		Verizon New Jersey, Inc	5.875	01/17/12	A3		1,153,374
500,000		Verizon Virginia, Inc	4.625	03/15/13	Baa1		482,957
1,790,000		Viacom, Inc	5.750	04/30/11	Baa3		1,812,515
750,000		Viacom, Inc	6.125	10/05/17	Baa3		749,968
670,000		Viacom, Inc	6.875	04/30/36	Baa3		671,826
1,750,000		Vodafone Group plc	6.150	02/27/37	Baa1		1,728,335
		TOTAL COMMUNICATIONS					36,609,408
DEPOSITORY INSTITUTIONS - 4.98%
4,000,000	g	BA Covered Bond Issuer	5.500	06/14/12	Aaa		4,218,680
6,000,000	g	Banco Bilbao Vizcaya Argentaria S.A.	5.750	07/20/17	Aaa		6,406,626
1,000,000		Banco Nacional de Comercio Exterior SNC	3.875	01/21/09	A1		972,500
500,000		Bank of America Corp	6.250	04/15/12	Aa1		525,038
2,000,000		Bank of America Corp	4.875	09/15/12	Aa1		2,004,906
875,000		Bank of America Corp	5.750	12/01/17	Aa1		877,007
1,400,000		Bank of America NA	5.300	03/15/17	Aa1		1,361,326
1,350,000		Bank of America NA	6.000	10/15/36	Aa1		1,291,174
1,350,000		Bank One Corp	2.625	06/30/08	Aa2		1,334,367
2,225,000		Bank One Corp	5.250	01/30/13	Aa3		2,218,461
700,000	i	BB&T Capital Trust IV	6.820	06/12/57	A1		658,540
500,000		Capital One Bank	5.125	02/15/14	A2		465,655
750,000		Citigroup, Inc	5.100	09/29/11	Aa3		754,176
1,100,000		Citigroup, Inc	5.250	02/27/12	Aa3		1,108,487
2,570,000		Citigroup, Inc	5.125	05/05/14	Aa3		2,507,775
1,820,000		Citigroup, Inc	5.875	05/29/37	Aa3		1,698,539
750,000	g,i	Credit Agricole S.A.	6.637	12/30/49	Aa3		695,813
15,700,000	g	Depfa ACS Bank	5.125	03/16/37	Aaa		15,518,241
1,650,000		Deutsche Bank AG.	5.375	10/12/12	Aa1		1,690,686
410,000		FIA Card Services NA	5.375	01/15/08	Aaa		410,067
650,000		FIA Card Services NA	4.625	08/03/09	Aaa		649,803
270,000		Golden West Financial Corp	4.750	10/01/12	Aa3		266,590
270,000		Greenpoint Financial Corp	3.200	06/06/08	A3		266,108
2,600,000		HSBC Holdings plc	6.500	09/15/37	Aa3		2,519,995
1,050,000	i	Huntington Capital III	6.650	05/15/37	Baa1		896,860
670,000	i	ING Groep NV	5.775	12/30/49	A1		619,412
370,000		JPMorgan Chase & Co	7.875	06/15/10	Aa3		397,973
250,000		JPMorgan Chase & Co	4.500	01/15/12	Aa2		246,017
1,690,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3		1,683,319
500,000	i	Manufacturers & Traders Trust Co	5.629	12/01/21	A2		461,825
370,000		Mellon Funding Corp	6.400	05/14/11	Aa3		391,090
370,000		National Westminster Bank plc	7.375	10/01/09	Aa1		392,542
4,000,000	g	Nationwide Building Society	5.500	07/18/12	Aaa		4,154,576

386

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        670,000		Popular North America, Inc	3.875%	10/01/08	A3	$	663,584
840,000		Popular North America, Inc	5.650	04/15/09	A3		848,223
330,000	g,i	Rabobank Capital Funding Trust	5.254	12/30/49	Aa2		295,360
810,000		Regions Financial Corp	6.375	05/15/12	A2		830,942
2,000,000	g	Royal Bank of Scotland Group plc	6.990	12/30/49	Aa3		1,993,984
500,000	g,i	Societe Generale	5.922	12/30/49	A1		462,676
1,010,000		Union Bank of California NA	5.950	05/11/16	A1		969,507
940,000		US Bank NA	5.700	12/15/08	Aa2		951,756
500,000	g	VTB Capital S.A.	6.609	10/31/12	A2		490,750
1,010,000		Wachovia Bank NA	4.800	11/01/14	Aa2		960,093
1,900,000		Wachovia Bank NA	4.875	02/01/15	Aa2		1,808,720
2,000,000		Wachovia Bank NA	5.850	02/01/37	Aa2		1,802,268
1,250,000		Wachovia Bank NA	6.600	01/15/38	Aa2		1,256,275
1,350,000		Wachovia Corp	5.300	10/15/11	Aa3		1,353,001
1,040,000		Wachovia Corp	4.875	02/15/14	A1		998,669
1,350,000		Washington Mutual, Inc	5.500	08/24/11	Baa2		1,204,154
2,530,000		Wells Fargo & Co	5.300	08/26/11	Aa1		2,581,506
1,150,000		Wells Fargo & Co	5.625	12/11/17	Aa1		1,150,703
2,190,000		Wells Fargo Bank NA	6.450	02/01/11	Aa1		2,316,915
4,550,000		Wells Fargo Bank NA	4.750	02/09/15	Aa1		4,345,778
		TOTAL DEPOSITORY INSTITUTIONS					86,949,038
EATING AND DRINKING PLACES - 0.05%
850,000		McDonald's Corp	6.300	10/15/37	A3		881,481
		TOTAL EATING AND DRINKING PLACES					881,481
ELECTRIC, GAS, AND SANITARY SERVICES - 1.41%
1,325,000	g	American Water Capital Corp	6.085	10/15/17	Baa2		1,320,539
770,000		Atmos Energy Corp	4.000	10/15/09	Baa3		758,724
330,000	e	Carolina Power & Light Co	5.700	04/01/35	A2		318,390
270,000		CenterPoint Energy Resources Corp	7.875	04/01/13	Baa3		296,456
1,000,000		CenterPoint Energy Resources Corp	6.250	02/01/37	Baa3		959,664
1,000,000		Centerpoint Energy, Inc	5.950	02/01/17	Ba1		990,703
1,000,000		Commonwealth Edison Co	3.700	02/01/08	Baa2		998,731
939,000		Consolidated Natural Gas Co	6.250	11/01/11	Baa2		976,047
330,000		Consolidated Natural Gas Co	5.000	12/01/14	Baa2		317,234
500,000		Consumers Energy Co	4.400	08/15/09	Baa1		495,647
1,915,000		FirstEnergy Corp	6.450	11/15/11	Baa3		1,977,460
1,010,000		Florida Power & Light Co	4.850	02/01/13	Aa3		1,012,033
670,000		Florida Power Corp	4.500	06/01/10	A2		674,413
750,000		Midamerican Energy Holdings Co	6.125	04/01/36	Baa1		748,214
270,000		National Fuel Gas Co	5.250	03/01/13	Baa1		267,779
560,000		National Rural Utilities Cooperative Finance Corp	5.750	08/28/09	A2		570,417
2,020,000		Nisource Finance Corp	5.400	07/15/14	Baa3		1,978,548
1,050,000		Northern States Power Co	6.250	06/01/36	A2		1,091,091
330,000		Ohio Power Co	5.300	11/01/10	A3		337,102
220,000		Oncor Electric Delivery Co	7.250	01/15/33	Ba1		234,248
670,000		ONEOK Partners LP	5.900	04/01/12	Baa2		688,893
2,020,000		Pacific Gas & Electric Co	4.200	03/01/11	A3		1,987,720
675,000		Public Service Co of Colorado	4.875	03/01/13	A3		662,629
270,000		Public Service Co of Colorado	5.500	04/01/14	A3		272,329
330,000		Puget Sound Energy, Inc	6.274	03/15/37	Baa2		323,983
250,000		Southern California Edison Co	6.000	01/15/34	A2		252,898

387

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        770,000		Southern California Edison Co	5.350%	07/15/35	A2	$	711,505
1,000,000		Southern California Edison Co	5.550	01/15/37	A2		943,427
1,100,000		Texas Eastern Transmission LP	7.300	12/01/10	A3		1,179,160
1,280,000		Virginia Electric and Power Co	4.750	03/01/13	Baa1		1,243,782
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					24,589,766
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.15%
840,000		Cisco Systems, Inc	5.500	02/22/16	A1		854,255
1,750,000		General Electric Co	5.250	12/06/17	Aaa		1,746,266
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					2,600,521
FOOD AND KINDRED PRODUCTS - 0.46%
600,000		Anheuser-Busch Co, Inc	5.500	01/15/18	A2		612,527
1,101,000		Archer-Daniels-Midland Co	7.125	03/01/13	A2		1,218,413
1,470,000		Bottling Group LLC	4.625	11/15/12	Aa2		1,474,686
600,000		Bunge Ltd Finance Corp	5.100	07/15/15	Baa2		568,279
900,000		Coca-Cola Co	5.350	11/15/17	Aa3		922,088
670,000		Companhia Brasileira de Bebidas	8.750	09/15/13	Baa1		762,125
937,000		Diageo Capital plc	5.125	01/30/12	A3		938,015
650,000		Diageo Finance BV	3.875	04/01/11	A3		629,366
330,000		Kraft Foods, Inc	6.500	11/01/31	Baa2		323,697
670,000		WM Wrigley Jr Co	4.650	07/15/15	A1		644,982
		TOTAL FOOD AND KINDRED PRODUCTS					8,094,178
FOOD STORES - 0.16%
740,000		Kroger Co	6.800	04/01/11	Baa2		778,769
1,000,000		Kroger Co	6.400	08/15/17	Baa2		1,045,913
670,000		Safeway, Inc	4.125	11/01/08	Baa2		662,795
370,000		Safeway, Inc	7.250	02/01/31	Baa2		401,042
		TOTAL FOOD STORES					2,888,519
GENERAL MERCHANDISE STORES - 0.13%
500,000		Target Corp	5.375	05/01/17	A2		488,681
930,000		Wal-Mart Stores, Inc	6.875	08/10/09	Aa2		971,959
770,000		Wal-Mart Stores, Inc	4.125	02/15/11	Aa2		764,734
		TOTAL GENERAL MERCHANDISE STORES					2,225,374
HEALTH SERVICES - 0.07%
1,150,000		Quest Diagnostics, Inc	6.400	07/01/17	Baa3		1,188,796
		TOTAL HEALTH SERVICES					1,188,796
HOLDING AND OTHER INVESTMENT OFFICES - 0.29%
1,100,000		BHP Billiton Finance Ltd	5.400	03/29/17	A1		1,057,967
500,000		Colonial Realty LP	6.250	06/15/14	Baa3		491,016
1,350,000		iStar Financial, Inc	5.150	03/01/12	Baa2		1,166,693
500,000		iStar Financial, Inc	5.700	03/01/14	Baa2		418,653
1,500,000	e	iStar Financial, Inc	5.850	03/15/17	Baa2		1,232,919
670,000		Simon Property Group LP	5.600	09/01/11	A3		672,188
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					5,039,436
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.53%
1,500,000	g	Atlas Copco AB	5.600	05/22/17	A3		1,500,548
870,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		859,833
1,690,000		Caterpillar, Inc	6.050	08/15/36	A2		1,734,170

388

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        935,000		Dover Corp	6.500%	02/15/11	A2	$	983,631
2,000,000		Hewlett-Packard Co	5.250	03/01/12	A2		2,048,566
1,000,000		Hewlett-Packard Co	5.400	03/01/17	A2		997,779
1,010,000		John Deere Capital Corp	7.000	03/15/12	A2		1,099,774
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					9,224,301
INSTRUMENTS AND RELATED PRODUCTS - 0.11%
270,000		Johnson & Johnson	3.800	05/15/13	Aaa		263,745
600,000		Medtronic, Inc	4.750	09/15/15	A1		578,981
500,000		Thermo Fisher Scientific, Inc	5.000	06/01/15	Baa2		464,500
650,000		Xerox Corp	7.625	06/15/13	Baa2		678,301
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					1,985,527
INSURANCE CARRIERS - 0.80%
1,140,000		Aetna, Inc	6.625	06/15/36	A3		1,128,607
245,000		Aetna, Inc	6.750	12/15/37	A3		244,387
330,000		Allstate Corp	5.000	08/15/14	A1		322,642
1,350,000		American International Group, Inc	5.050	10/01/15	Aa2		1,303,727
2,200,000	i	Chubb Corp	6.375	03/29/37	A3		2,145,906
750,000		Chubb Corp	6.000	05/11/37	A2		708,539
670,000	g	Liberty Mutual Group, Inc	6.500	03/15/35	Baa2		611,324
500,000	g	Mantis Reef Ltd	4.799	11/03/09	A3		507,153
770,000		Metlife, Inc	5.000	06/15/15	A2		745,165
500,000		Metlife, Inc	5.700	06/15/35	A2		456,576
1,010,000	g	Pricoa Global Funding I	3.900	12/15/08	Aa3		999,134
1,700,000	g	Principal Life Global Funding I	5.125	10/15/13	Aa2		1,721,745
1,600,000	g	Prudential Funding LLC	6.750	09/15/23	A1		1,682,952
750,000		WellPoint, Inc	5.875	06/15/17	Baa1		755,102
655,000		WellPoint, Inc	5.850	01/15/36	Baa1		603,541
		TOTAL INSURANCE CARRIERS					13,936,500
METAL MINING - 0.07%
180,000		Barrick Gold Finance Co	4.875	11/15/14	Baa1		171,834
670,000	g	Corp Nacional del Cobre de Chile - CODELCO	4.750	10/15/14	Aa3		644,978
500,000		Vale Overseas Ltd	6.250	01/11/16	Baa3		500,802
		TOTAL METAL MINING					1,317,614
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.08%
770,000	g	Controladora Mabe S.A. C.V.	6.500	12/15/15	NR		761,338
560,000		Harsco Corp	5.125	09/15/13	A3		576,789
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES					1,338,127
MISCELLANEOUS RETAIL - 0.12%
2,150,000		CVS Caremark Corp	5.750	06/01/17	Baa2		2,163,837
		TOTAL MISCELLANEOUS RETAIL					2,163,837
MOTION PICTURES - 0.32%
1,310,000		Historic TW, Inc	6.625	05/15/29	Baa2		1,289,726
330,000		News America, Inc	7.625	11/30/28	Baa2		365,690
2,500,000		News America, Inc	6.150	03/01/37	Baa2		2,414,973
910,000		Time Warner, Inc	6.875	05/01/12	Baa2		958,238
500,000		Time Warner, Inc	6.500	11/15/36	Baa2		486,504
		TOTAL MOTION PICTURES					5,515,131

389

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
NONDEPOSITORY INSTITUTIONS - 2.15%
$        900,000		American Express Centurion Bank	6.000%	09/13/17	Aa3	$	905,016
2,500,000		American General Finance Corp	6.900	12/15/17	A1		2,502,500
1,350,000	g	American Honda Finance Corp	5.125	12/15/10	Aa3		1,387,456
1,900,000		Boeing Capital Corp Ltd	6.100	03/01/11	A3		1,991,512
1,480,000		Capital One Financial Corp	5.700	09/15/11	A3		1,429,770
1,010,000		Capital One Financial Corp	5.500	06/01/15	A3		931,594
900,000		CIT Group Funding Co of Canada	5.200	06/01/15	A2		770,541
1,800,000		CIT Group, Inc	5.850	09/15/16	A2		1,589,186
400,000		Countrywide Home Loans, Inc	3.250	05/21/08	Baa3		361,467
8,000,000		General Electric Capital Corp	5.500	06/04/14	Aaa		8,254,464
330,000	g,i	HSBC Capital Funding LP	4.610	12/30/49	A1		303,765
1,520,000		HSBC Finance Corp	5.250	01/14/11	Aa3		1,519,486
750,000		HSBC Finance Corp	5.900	06/19/12	Aa3		761,885
7,250,000		HSBC Finance Corp	4.750	07/15/13	Aa3		6,988,152
1,520,000		International Lease Finance Corp	5.450	03/24/11	A1		1,531,774
1,750,000		International Lease Finance Corp	5.750	06/15/11	A1		1,771,949
900,000		International Lease Finance Corp	5.650	06/01/14	A1		914,583
300,000	g	Lukoil International Finance BV	6.356	06/07/17	Baa2		284,010
1,077,000		MBNA Corp	6.125	03/01/13	Aa1		1,122,222
430,000		Residential Capital LLC	7.625	11/21/08	Ba3		341,850
1,000,000		Residential Capital LLC	8.000	06/01/12	Ba3		615,000
1,420,000		Residential Capital LLC	8.000	04/17/13	Ba3		873,300
460,000		Toyota Motor Credit Corp	2.875	08/01/08	Aaa		453,935
		TOTAL NONDEPOSITORY INSTITUTIONS					37,605,417
OIL AND GAS EXTRACTION - 0.57%
1,110,000		Baker Hughes, Inc	6.875	01/15/29	A2		1,202,838
600,000		BJ Services Co	5.750	06/01/11	Baa1		615,169
500,000	g	Empresa Nacional del Petroleo	6.750	11/15/12	A2		533,132
1,100,000		EnCana Corp	6.500	02/01/38	Baa2		1,136,713
270,000		Equitable Resources, Inc	5.150	11/15/12	Baa1		274,637
500,000		Husky Energy, Inc	6.250	06/15/12	Baa2		525,666
330,000		Nexen, Inc	5.050	11/20/13	Baa2		320,448
1,500,000		Nexen, Inc	5.650	05/15/17	Baa2		1,480,182
770,000		Nexen, Inc	6.400	05/15/37	Baa2		768,708
330,000		PC Financial Partnership	5.000	11/15/14	Baa2		320,943
500,000	g	Weatherford International, Inc	5.950	06/15/12	Baa1		519,119
2,230,000		XTO Energy, Inc	6.250	04/15/13	Baa2		2,332,622
		TOTAL OIL AND GAS EXTRACTION					10,030,177
PAPER AND ALLIED PRODUCTS - 0.09%
670,000		Bemis Co, Inc	4.875	04/01/12	Baa1		678,268
750,000		Kimberly-Clark Corp	6.625	08/01/37	A2		830,123
		TOTAL PAPER AND ALLIED PRODUCTS					1,508,391
PETROLEUM AND COAL PRODUCTS - 0.11%
385,000		ConocoPhillips	4.750	10/15/12	A3		388,250
900,000	g	GS Caltex Corp	5.500	04/24/17	Baa1		843,528
700,000		Valero Energy Corp	6.625	06/15/37	Baa3		704,951
		TOTAL PETROLEUM AND COAL PRODUCTS					1,936,729

390

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
PIPELINES, EXCEPT NATURAL GAS - 0.41%
$        670,000		Enbridge Energy Partners LP	4.000%	01/15/09	Baa2	$	665,890
330,000		Enterprise Products Operating LP	4.950	06/01/10	Baa3		330,220
500,000		Enterprise Products Operating LP	5.600	10/15/14	Baa3		498,997
370,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		368,293
670,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		673,195
370,000		TransCanada Pipelines Ltd	4.000	06/15/13	A2		353,319
2,900,000		TransCanada Pipelines Ltd	7.690	06/30/16	A2		3,297,915
600,000		TransCanada Pipelines Ltd	5.850	03/15/36	A2		575,044
400,000		TransCanada Pipelines Ltd	6.200	10/15/37	A2		397,158
		TOTAL PIPELINES, EXCEPT NATURAL GAS					7,160,031
PRIMARY METAL INDUSTRIES - 0.03%
250,000	g	Xstrata Finance Canada Ltd	5.500	11/16/11	Baa2		254,335
350,000	g	Xstrata Finance Canada Ltd	6.900	11/15/37	Baa2		348,118
		TOTAL PRIMARY METAL INDUSTRIES					602,453
PRINTING AND PUBLISHING - 0.20%
3,500,000		Thomson Corp	5.700	10/01/14	Baa1		3,514,410
		TOTAL PRINTING AND PUBLISHING					3,514,410
RAILROAD TRANSPORTATION - 0.26%
670,000		Burlington Northern Santa Fe Corp	6.750	07/15/11	Baa1		707,740
750,000		Burlington Northern Santa Fe Corp	6.150	05/01/37	Baa1		729,103
370,000		Canadian National Railway Co	4.400	03/15/13	A3		362,924
500,000		CSX Corp	6.150	05/01/37	Baa3		467,261
1,263,000		Norfolk Southern Corp	5.590	05/17/25	Baa1		1,170,276
330,000		Union Pacific Corp	6.500	04/15/12	Baa2		348,815
750,000		Union Pacific Corp	5.750	11/15/17	Baa2		747,152
		TOTAL RAILROAD TRANSPORTATION					4,533,271
REAL ESTATE - 0.04%
750,000	g,i	USB Realty Corp	6.091	12/30/49	A1		666,328
		TOTAL REAL ESTATE					666,328
SECURITY AND COMMODITY BROKERS - 1.61%
1,500,000		Bear Stearns Cos, Inc	5.700	11/15/14	A2		1,422,447
1,000,000		Bear Stearns Cos, Inc	6.400	10/02/17	A2		966,160
930,000		Burlington Resources Finance Co	6.400	08/15/11	A2		982,132
1,110,000		Burlington Resources Finance Co	7.200	08/15/31	A2		1,286,248
1,450,000		Credit Suisse USA, Inc	5.500	08/16/11	Aa1		1,489,910
1,000,000		Eaton Vance Corp	6.500	10/02/17	A3		1,049,130
1,000,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		890,325
430,000		Goldman Sachs Group, Inc	5.000	01/15/11	Aa3		433,415
1,500,000		Goldman Sachs Group, Inc	5.300	02/14/12	Aa3		1,517,084
670,000		Goldman Sachs Group, Inc	4.750	07/15/13	Aa3		656,260
530,000		Goldman Sachs Group, Inc	5.150	01/15/14	Aa3		524,627
800,000		Goldman Sachs Group, Inc	5.625	01/15/17	A1		781,261
500,000		Goldman Sachs Group, Inc	6.750	10/01/37	A1		489,889
750,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3		668,438
1,700,000		Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		1,682,130
550,000	i	Lehman Brothers Holdings, Inc	6.000	05/03/32	A2		488,849
670,000		Merrill Lynch & Co, Inc	5.000	02/03/14	A1		639,130

391

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        750,000		Merrill Lynch & Co, Inc	5.700%	05/02/17	A2	$	714,821
2,360,000		Morgan Stanley	3.625	04/01/08	Aa3		2,350,010
1,190,000		Morgan Stanley	5.750	10/18/16	Aa3		1,174,253
1,250,000		Morgan Stanley	5.550	04/27/17	Aa3		1,218,960
1,250,000		Morgan Stanley	6.250	08/28/17	Aa3		1,270,754
840,000		Morgan Stanley	6.250	08/09/26	Aa3		819,963
4,280,570	g	Morgan Stanley Tracers	6.789	06/15/12	Baa2		4,640,353
		TOTAL SECURITY AND COMMODITY BROKERS					28,156,549
TRANSPORTATION BY AIR - 0.06%
1,050,000		FedEx Corp	3.500	04/01/09	Baa2		1,033,034
		TOTAL TRANSPORTATION BY AIR					1,033,034
TRANSPORTATION EQUIPMENT - 0.40%
2,020,000	g	BAE Systems Holdings, Inc	6.400	12/15/11	Baa2		2,129,169
330,000		General Dynamics Corp	3.000	05/15/08	A2		328,087
1,600,000		Honeywell International, Inc	5.700	03/15/37	A2		1,579,672
775,000		Lockheed Martin Corp	6.150	09/01/36	Baa1		801,559
270,000		Northrop Grumman Corp	7.750	02/15/31	Baa1		330,981
740,000		United Technologies Corp	6.350	03/01/11	A2		787,943
875,000		United Technologies Corp	5.375	12/15/17	A2		882,635
235,000		United Technologies Corp	6.050	06/01/36	A2		241,788
		TOTAL TRANSPORTATION EQUIPMENT					7,081,834
WHOLESALE TRADE-DURABLE GOODS - 0.06%
1,000,000		Vale Overseas Ltd	6.250	01/23/17	Baa3		1,003,105
		TOTAL WHOLESALE TRADE-DURABLE GOODS					1,003,105
WHOLESALE TRADE-NONDURABLE GOODS - 0.26%
180,000		Colgate-Palmolive Co	6.450	06/16/28	Aa3		196,064
1,960,000		Procter & Gamble Co	4.950	08/15/14	Aa3		1,986,172
2,300,000		Procter & Gamble Co	5.550	03/05/37	Aa3		2,313,082
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					4,495,318
		TOTAL CORPORATE BONDS					332,133,584
		(Cost $331,705,250)
GOVERNMENT BONDS - 60.83%
AGENCY SECURITIES - 10.27%
1,605,956		Cal Dive I- Title XI, Inc	4.930	02/01/27	NR		1,641,465
1,690,000		Federal Farm Credit Bank (FFCB)	3.375	07/15/08	Aaa		1,680,974
1,690,000		FFCB	4.125	04/15/09	Aaa		1,696,907
10,000,000		Federal Home Loan Bank (FHLB)	5.000	10/16/09	Aaa		10,060,850
10,000,000		FHLB	4.625	10/10/12	Aaa		10,292,310
2,000,000		FHLB	5.000	11/17/17	Aaa		2,073,674
1,010,000		Federal Home Loan Mortgage Corp (FHLMC)	3.750	02/27/09	Aaa		1,008,367
3,500,000		FHLMC	4.875	02/09/10	Aaa		3,591,539
13,688,000		FHLMC	5.875	03/21/11	Aa2		14,604,001
7,500,000		FHLMC	5.500	08/20/12	Aaa		7,994,723
3,000,000		FHLMC	4.125	12/21/12	Aaa		3,021,135
7,670,000		FHLMC	5.125	10/18/16	Aaa		8,032,707
129,830		FHLMC	8.375	12/30/49	Aa3		3,395,055

392

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        3,380,000		Federal National Mortgage Association (FNMA)	5.250%	06/15/08	Aaa	$	3,391,127
10,600,000		FNMA	5.250	01/29/09	Aaa		10,608,745
6,760,000		FNMA	3.660	02/25/09	Aaa		6,742,045
32,260,000		FNMA	5.100	09/10/09	Aaa		32,459,464
4,200,000		FNMA	7.125	06/15/10	Aaa		4,543,917
4,000,000		FNMA	5.000	10/15/11	Aaa		4,170,060
5,000,000		FNMA	5.375	06/12/17	Aaa		5,311,370
5,000,000		FNMA	5.625	07/15/37	Aaa		5,541,350
493,758		FNMA	8.250	12/30/49	Aa3		12,714,269
1,651,166		Overseas Private Investment Corp	3.420	01/15/15	NR		1,641,887
670,000		Private Export Funding Corp	5.870	07/31/08	Aaa		675,798
5,000,000		Private Export Funding Corp	4.900	12/15/11	Aaa		5,191,615
300,000		Private Export Funding Corp	4.950	11/15/15	Aaa		313,807
2,000,000		Private Export Funding Corp	5.000	12/15/16	Aaa		2,077,088
13,000,000		Private Export Funding Corp	5.450	09/15/17	Aaa		13,827,348
1,012,499		Totem Ocean Trailer Express, Inc	4.514	12/18/19	NR		1,023,758
		TOTAL AGENCY SECURITIES					179,327,355
FOREIGN GOVERNMENT BONDS - 2.06%
330,000		African Development Bank	3.250	08/01/08	Aaa		327,833
1,010,000		Asian Development Bank/Pasig	4.125	09/15/10	Aaa		1,028,470
1,690,000		Canada Mortgage & Housing Corp	4.800	10/01/10	Aaa		1,731,390
270,000		Chile Government International Bond	5.500	01/15/13	A2		281,642
1,110,000		China Development Bank	5.000	10/15/15	A1		1,094,877
600,000		Development Bank of Japan	4.250	06/09/15	Aaa		585,638
840,000		Eksportfinans A/S	5.000	02/14/12	Aaa		867,048
600,000		European Investment Bank	4.875	02/15/36	Aaa		590,312
1,690,000	g	Federal Republic of Germany	3.875	06/01/10	Aaa		1,695,974
2,020,000		International Finance Corp	5.125	05/02/11	Aaa		2,118,487
1,620,000		Israel Government International Bond	5.500	11/09/16	A2		1,650,085
1,275,000		Italy Government International Bond	5.375	06/12/17	NR		1,351,534
270,000		Korea Development Bank	5.750	09/10/13	Aa3		273,639
670,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		684,039
775,000		Landwirtschaftliche Rentenbank	5.250	07/02/12	Aaa		817,783
3,000,000		Landwirtschaftliche Rentenbank	5.125	02/01/17	Aaa		3,141,975
242,000		Mexico Government International Bond	6.375	01/16/13	Baa1		257,367
646,000		Mexico Government International Bond	5.875	01/15/14	Baa1		671,840
1,650,000		Mexico Government International Bond	6.750	09/27/34	Baa1		1,822,425
1,150,000		Oesterreichische Kontrollbank AG.	5.000	04/25/17	Aaa		1,190,251
3,380,000	e	Province of Manitoba Canada	4.450	04/12/10	Aa1		3,418,478
1,500,000		Province of Manitoba Canada	5.000	02/15/12	Aa1		1,556,373
370,000		Province of Ontario	5.500	10/01/08	Aa1		372,868
1,010,000		Province of Ontario	4.750	01/19/16	Aa1		1,023,186
2,600,000		Province of Quebec Canada	5.125	11/14/16	Aa2		2,687,942
930,000		Province of Quebec Canada	7.500	09/15/29	Aa2		1,216,094
1,350,000		Province of Saskatchewan Canada	8.000	02/01/13	Aa1		1,555,975
1,845,000		Svensk Exportkredit AB	5.125	03/01/17	Aa1		1,902,140
		TOTAL FOREIGN GOVERNMENT BONDS					35,915,665
MORTGAGE BACKED SECURITIES - 30.40%
1,324,015		Federal Home Loan Mortgage Corp (FHLMC)	6.000	09/15/16			1,360,621
2,020,000		FHLMC	5.000	06/15/29			2,030,003
697,191		FHLMC	6.000	12/15/30			705,339

393

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$        4,050,000		FHLMC	5.000%	06/15/31	$	4,041,740
1,010,000		FHLMC	5.500	05/15/33		1,008,732
1,723,975		FHLMC	4.500	09/15/35		1,689,627
2,071,652	i	FHLMC	5.089	02/01/36		2,076,054
753,878	i	FHLMC	5.793	07/01/36		763,468
2,401,171	i	FHLMC	5.020	09/01/36		2,411,674
1,811,722	i	FHLMC	5.895	09/01/36		1,839,137
3,791,932	i	FHLMC	6.125	09/01/36		3,846,301
5,953,799	i	FHLMC	5.672	03/01/37		6,078,241
7,735,960	i	FHLMC	5.792	03/01/37		7,870,077
5,695,791	i	FHLMC	5.880	04/01/37		5,767,062
1,690,777	i	FHLMC	5.735	06/01/37		1,716,939
3,757,917	i	FHLMC	5.910	08/01/37		3,821,713
4,484,832	i	FHLMC	5.861	09/01/37		4,564,876
76,147		Federal Home Loan Mortgage Corp Gold (FGLMC)	7.500	01/01/16		79,692
5,133		FGLMC	7.500	05/01/16		5,372
6,888		FGLMC	7.500	06/01/16		7,208
2,584,256		FGLMC	4.500	09/01/18		2,541,162
2,604,715		FGLMC	4.500	01/01/19		2,560,175
4,565,767		FGLMC	4.500	05/01/19		4,487,694
3,394,814		FGLMC	5.000	05/01/20		3,398,145
532,245		FGLMC	4.500	07/01/20		523,036
78,528		FGLMC	7.000	10/01/20		82,532
8,469,143		FGLMC	4.500	06/01/21		8,322,592
13,837,253		FGLMC	4.500	06/01/21		13,597,812
8,846		FGLMC	6.500	10/01/28		9,170
117,293		FGLMC	6.500	01/01/29		121,582
19,858		FGLMC	6.500	03/01/29		20,584
63,355		FGLMC	6.500	07/01/29		65,654
23,045		FGLMC	8.000	01/01/31		24,680
135,108		FGLMC	6.500	09/01/31		139,718
132,363		FGLMC	8.000	09/01/31		141,780
24,313		FGLMC	7.000	10/01/31		25,509
859,943		FGLMC	7.000	12/01/31		903,707
3,455,836		FGLMC	6.000	03/01/33		3,519,161
1,029,177		FGLMC	6.000	03/01/33		1,048,036
532,104		FGLMC	6.000	03/01/33		541,170
3,774,841		FGLMC	5.000	09/01/33		3,688,745
1,812,985		FGLMC	5.500	09/01/33		1,812,466
1,497,023		FGLMC	5.500	09/01/33		1,496,595
1,782,015		FGLMC	5.500	09/01/33		1,781,506
2,173,076		FGLMC	5.500	10/01/33		2,172,455
7,157,838		FGLMC	5.500	12/01/33		7,163,509
6,102,307		FGLMC	5.000	01/01/34		5,963,126
1,029,582		FGLMC	5.500	12/01/34		1,028,666
4,899,172		FGLMC	4.500	04/01/35		4,633,071
2,240,631		FGLMC	6.000	05/01/35		2,275,768
1,589,257		FGLMC	6.000	07/01/35		1,614,179
375,086		FGLMC	5.500	08/01/35		374,458
765,893		FGLMC	6.000	08/01/35		777,904
1,078,189		FGLMC	5.000	10/01/35		1,052,672
3,047,350		FGLMC	5.000	11/01/35		2,975,229
1,067,399		FGLMC	6.000	01/01/36		1,083,449

394

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
$        938,283	FGLMC	7.000%	01/01/36	$	981,118
3,455,687	FGLMC	5.500	04/01/36		3,448,989
837,524	FGLMC	6.500	05/01/36		861,075
2,541,299	FGLMC	6.500	10/01/36		2,612,759
793,034	FGLMC	6.500	12/01/36		809,002
5,836,772	FGLMC	5.500	01/01/37		5,825,458
9,672,023	FGLMC	5.500	04/01/37		9,652,056
10,622,863	FGLMC	5.500	05/01/37		10,600,934
3,684,353	FGLMC	6.000	08/01/37		3,739,374
2,064,740	FGLMC	6.000	09/01/37		2,095,574
93,827	Federal National Mortgage Association (FNMA)	5.000	06/01/13		95,090
1,889,656	FNMA	4.440	07/01/13		1,872,867
44,911	FNMA	6.000	09/01/13		46,045
2,140,450	FNMA	4.739	10/01/13		2,148,338
35,483	FNMA	6.500	12/01/13		36,773
1,567,948	FNMA	4.719	02/01/14		1,572,944
31,671	FNMA	6.000	06/01/14		32,423
2,886	FNMA	6.500	07/01/14		2,993
4,521,148	FNMA	4.640	11/01/14		4,489,797
5,353,380	FNMA	4.869	03/01/16		5,394,098
80,712	FNMA	6.500	10/01/16		83,573
422,811	FNMA	6.500	11/01/16		437,801
314,515	FNMA	6.500	04/01/17		325,356
375,223	FNMA	5.500	04/01/18		380,887
159,115	FNMA	5.500	05/01/18		161,480
1,625,621	FNMA	4.500	10/01/18		1,599,487
3,598,281	FNMA	5.000	11/01/18		3,608,365
218,694	FNMA	6.000	01/01/19		224,166
402,684	FNMA	4.500	05/01/19		396,053
782,523	FNMA	5.000	11/01/23		772,299
663,734	FNMA	5.500	02/01/24		667,901
382,695	FNMA	5.500	07/01/24		384,797
4,969	FNMA	8.000	07/01/24		5,323
4,965,982	FNMA	5.000	03/01/25		4,897,033
11,082,987	FNMA	5.000	10/01/25		10,929,107
2,818	FNMA	7.500	01/01/29		3,016
12,035	FNMA	6.500	04/01/29		12,472
17,509	FNMA	7.500	07/01/29		18,718
3,730	FNMA	7.500	07/01/29		3,988
3,800	FNMA	7.500	02/01/31		4,057
19,797	FNMA	7.500	03/01/31		21,132
9,746	FNMA	7.500	05/01/31		10,403
21,235	FNMA	6.500	09/01/31		21,959
11,084	FNMA	6.500	10/01/31		11,462
118,919	FNMA	6.500	11/01/31		122,973
274,424	FNMA	6.000	01/01/32		279,910
454,342	FNMA	5.000	02/01/33		443,985
2,574,950	FNMA	5.000	02/01/33		2,518,843
2,395,484	FNMA	4.500	03/25/33		2,365,083
1,380,235	FNMA	4.500	08/01/33		1,307,796
1,047,478	FNMA	5.000	08/01/33		1,023,600
1,010,000	FNMA	5.500	08/25/33		1,021,045
820,027	FNMA	5.500	09/01/33		820,635

395

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$        1,155,756		FNMA	5.500%	09/01/33	$	1,156,614
2,347,199		FNMA	4.500	10/01/33		2,224,010
1,238,231		FNMA	5.000	10/01/33		1,210,005
1,178,859		FNMA	5.000	10/01/33		1,151,986
4,421,494		FNMA	5.500	10/01/33		4,424,773
2,798,562		FNMA	5.500	10/01/33		2,800,638
9,936,750		FNMA	5.000	11/01/33		9,710,233
3,243,541		FNMA	5.500	12/01/33		3,245,946
4,836,446		FNMA	6.000	02/01/34		4,921,038
448,626		FNMA	5.000	03/01/34		438,400
8,549,691		FNMA	5.000	03/01/34		8,354,793
397,853		FNMA	5.000	03/01/34		388,784
1,218,557		FNMA	5.000	03/01/34		1,190,779
607,534		FNMA	5.000	03/01/34		593,685
3,456,288		FNMA	5.000	04/01/34		3,376,156
10,866,618		FNMA	5.000	08/01/34		10,618,006
1,986,275		FNMA	5.500	09/01/34		1,986,385
7,645,072		FNMA	5.500	09/01/34		7,645,495
400,000		FNMA	5.500	10/25/34		398,004
1,147,258		FNMA	6.000	11/01/34		1,166,598
942,213		FNMA	5.500	01/01/35		942,266
44,186,350		FNMA	5.500	02/01/35		44,219,115
10,283,449		FNMA	5.000	02/25/35		10,334,274
6,955,696		FNMA	5.500	04/01/35		6,956,081
3,734,216		FNMA	5.500	04/01/35		3,731,939
935,502		FNMA	5.500	05/01/35		934,932
2,293,475		FNMA	6.000	05/01/35		2,330,298
135,386		FNMA	7.500	06/01/35		143,122
9,169,238		FNMA	5.500	09/01/35		9,176,037
2,787,036		FNMA	5.000	10/01/35		2,720,907
2,933,626		FNMA	5.500	10/01/35		2,931,837
953,958		FNMA	5.000	11/01/35		927,049
5,540,070		FNMA	5.500	11/01/35		5,536,691
525,929		FNMA	5.500	12/01/35		525,609
2,704,295		FNMA	6.000	12/01/35		2,747,714
543,390		FNMA	5.000	02/01/36		522,062
918,822		FNMA	5.000	02/01/36		882,757
4,722,082	i	FNMA	5.735	02/01/36		4,804,985
2,693,439		FNMA	6.500	02/01/36		2,772,001
5,917,772		FNMA	6.000	03/01/36		6,010,643
2,517,974		FNMA	5.500	04/01/36		2,516,439
586,519		FNMA	6.000	06/01/36		595,724
6,032,339		FNMA	6.000	06/01/36		6,130,094
3,444,732	i	FNMA	5.961	07/01/36		3,529,568
3,932,054	i	FNMA	5.993	07/01/36		4,039,989
4,380,193		FNMA	6.000	10/01/36		4,448,934
613,353	i	FNMA	5.776	12/01/36		623,092
2,892,056		FNMA	6.500	12/01/36		2,950,290
1,763,846	i	FNMA	6.027	02/01/37		1,791,763
739,867		FNMA	7.000	02/01/37		769,645
1,598,432		FNMA	6.500	03/01/37		1,643,085
3,119,347		FNMA	7.000	04/01/37		3,244,890
7,881,282		FNMA	6.000	06/01/37		8,003,905

396

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        5,867,796		FNMA	6.000%	08/01/37		$	5,909,803
3,081,341		FNMA	6.000	08/01/37			3,129,283
4,833,455		FNMA	6.500	08/01/37			4,968,481
1,131,206		FNMA	6.000	09/01/37			1,148,807
1,791,507		FNMA	6.000	09/01/37			1,819,381
1,895,891		FNMA	6.000	09/01/37			1,925,389
1,418,432		FNMA	6.000	09/01/37			1,440,502
3,620,724		FNMA	6.500	09/01/37			3,721,872
7,928,513	i	FNMA	5.933	10/01/37			8,207,928
1,481,054		FNMA	6.000	10/01/37			1,504,098
7,440,375		FNMA	6.500	10/01/37			7,648,227
3,203,762		FNMA	7.000	11/01/37			3,332,701
6,000,000	v	FNMA	6.000	12/01/37			6,024,375
8,000,000		FNMA	6.000	01/25/38			8,122,496
9,000,000		FNMA	6.500	01/25/38			9,250,308
557		Government National Mortgage Association
		(GNMA)	7.000	01/15/28			591
2,139		GNMA	7.000	02/15/28			2,270
15,748		GNMA	6.500	05/15/28			16,345
2,168		GNMA	7.000	06/15/28			2,301
3,116		GNMA	7.000	06/15/28			3,307
75,237		GNMA	6.500	09/15/28			78,089
14,940		GNMA	6.500	09/15/28			15,507
41,109		GNMA	6.500	11/15/28			42,667
10,264		GNMA	7.500	11/15/28			10,958
22,438		GNMA	7.500	07/15/29			23,946
5,679		GNMA	8.500	07/15/30			6,172
2,468		GNMA	8.500	07/15/30			2,683
31,470		GNMA	8.500	10/15/30			34,203
39,436		GNMA	8.500	10/20/30			42,706
5,548		GNMA	8.500	12/15/30			6,031
9,105		GNMA	7.000	06/20/31			9,623
13,424		GNMA	6.500	07/15/31			13,918
35,869		GNMA	7.000	07/15/31			38,023
38,705		GNMA	7.000	07/15/31			41,030
54,982		GNMA	7.500	02/15/32			58,574
3,501		GNMA	6.500	03/15/33			3,629
2,391,486		GNMA	5.500	09/15/33			2,410,171
1,021,250		GNMA	5.500	02/20/35			1,023,603
7,318,704		GNMA	5.000	03/20/35			7,149,816
7,296,296		GNMA	5.500	05/20/35			7,313,108
3,049,905		GNMA	5.500	02/20/36			3,056,276
		TOTAL MORTGAGE BACKED SECURITIES					530,853,248
MUNICIPAL BONDS - 0.04%
670,000		Charlotte-Mecklenburg Hospital Authority	5.000	08/01/15	Aaa		670,824
		TOTAL MUNICIPAL BONDS					670,824
U.S. TREASURY SECURITIES - 18.06%
36,536,000		United States Treasury Bond	8.000	11/15/21			50,002,950
20,650,000		United States Treasury Bond	5.250	02/15/29			22,716,611
194,000		United States Treasury Bond	5.375	02/15/31			218,568
101,000		United States Treasury Bond	4.500	02/15/36			101,513

397

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        3,130,000		United States Treasury Bond	4.750%	02/15/37		$	3,275,739
5,095,639		United States Treasury Inflation Indexed Bonds	3.875	01/15/09			5,246,119
42,899,309		United States Treasury Inflation Indexed Bonds	0.875	04/15/10			42,755,210
5,410,000		United States Treasury Note	5.125	06/30/08			5,454,800
2,700,000		United States Treasury Note	3.125	09/15/08			2,695,569
13,180,000		United States Treasury Note	4.875	10/31/08			13,339,597
2,000,000		United States Treasury Note	4.000	08/31/09			2,029,376
6,535,000		United States Treasury Note	3.625	10/31/09			6,599,331
98,530,000		United States Treasury Note	4.250	09/30/12			101,986,235
6,949,000		United States Treasury Note	3.875	10/31/12			7,085,263
1,605,000		United States Treasury Note	3.375	11/30/12			1,599,609
6,156,000		United States Treasury Note	3.625	12/31/12			6,202,170
25,223,000		United States Treasury Note	4.750	08/15/17			26,639,826
8,425,000		United States Treasury Note	4.250	11/15/17			8,571,780
22,000,000	j	United States Treasury Strip Principal		08/15/27			8,892,598
		TOTAL U.S. TREASURY SECURITIES					315,412,864
		TOTAL GOVERNMENT BONDS					1,062,179,956
		(Cost $1,044,123,805)
		TOTAL BONDS					1,394,313,540
		(Cost $1,375,829,055)
STRUCTURED ASSETS - 17.87%
ASSET BACKED - 12.26%
5,000,000		AmeriCredit Automobile Receivables Trust Series
		2006-AF (Class A4)	5.640	09/06/13	Aaa		5,099,171
5,000,000		AmeriCredit Automobile Receivables Trust Series
		2007-BF (Class A3A)	5.160	04/06/12	Aaa		5,037,675
186,349	i	AQ Finance NIM Trust Series 2004-RN2	5.065	04/25/09	Aaa		183,689
124,444	i,m,v	AQ Finance NIM Trust Series 2004-RN3	5.045	05/25/09	Aaa		124,173
55,677		Asset Backed Funding Corp NIM Trust Series 2005-
		WMC1 (Class N1)	5.900	07/26/35	NR		223
4,000,000		Capital One Auto Finance Trust Series 2007-A
		(Class A3A)	5.250	08/15/11	Aaa		4,026,572
2,500,000		Capital One Auto Finance Trust Series 2007-B
		(Class A3A)	5.030	04/15/12	Aaa		2,515,370
400,000	i	Centex Home Equity Series 2004-C (Class AF5)	5.980	06/25/34	Aaa		399,410
12,658,833	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2003-6 (Class 1A7)	4.277	09/25/33	Aaa		12,286,493
851,128	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1B)	5.700	02/25/35	Baa2		496,882
851,128	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1M1)	5.700	02/25/35	Aa2		832,445
598,299		Chase Manhattan Auto Owner Trust Series 2004-A
		(Class A4)	2.830	09/15/10	Aaa		596,005
949,660		CIT Equipment Collateral Series 2005-VT1
		(Class A4)	4.360	11/20/12	Aaa		946,965
1,257,096	i	CIT Group Home Equity Loan Trust Series 2002-1
		(Class AF6)	6.200	02/25/30	Aaa		1,250,126
4,000,000	i	Citicorp Mortgage Securities, Inc Series 2006-1
		(Class A3)	5.706	07/25/36	Aaa		3,929,541
6,000,000		Citicorp Mortgage Securities, Inc Series 2006-2
		(Class A3)	5.563	09/25/36	Aaa		5,863,720

398

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        1,500,000		Countrywide Alternative Loan Trust Series 2004-
		29CB (Class A7)	5.375%	01/25/35	NR	$	1,440,210
2,228,740		Countrywide Alternative Loan Trust Series 2004-
		30CB (Class 1A15)	5.500	08/25/16	Aaa		2,187,464
4,000,000	i	Countrywide Asset-Backed Certificates Series 2007-
		S2 (Class A3)	5.813	05/25/37	Aaa		3,692,715
170,153	i	Countrywide Home Equity Loan Trust Series 2004-
		B (Class 1A)	5.248	02/15/29	Aaa		165,783
2,014,939	i	Credit-Based Asset Servicing and Securitization
		LLC Series 2007-MX1 (Class A1)	5.763	12/25/36	Aaa		2,009,960
2,700,000	i	Credit-Based Asset Servicing and Securitization
		LLC Series 2007-MX1 (Class A2)	5.825	12/25/36	Aaa		2,454,624
139,728		Detroit Edison Securitization Funding LLC Series
		2001-1 (Class A3)	5.875	03/01/10	Aaa		139,977
7,000,000	i	Flagstar Home Equity Loan Trust Series 2007-1A
		(Class AF3)	5.781	01/25/35	Aaa		6,489,117
253,809	i	GMAC Mortgage Corporation Loan Trust 2005-
		HE2 A3	4.622	11/25/35	Aaa		251,177
1,435,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A3	5.590	10/25/29	Aaa		1,338,531
1,350,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A4	5.810	10/25/29	Aaa		1,150,597
640,558	i	Golden Securities Corp Series 2003-A (Class A1)	5.525	12/02/13	Aaa		639,617
9,000,000		Hertz Vehicle Financing LLC Series 2005-1A
		(Class A3)	5.010	02/25/11	Aaa		9,069,175
2,000,000		Hertz Vehicle Financing LLC Series 2005-1A
		(Class A5)	5.080	11/25/11	Aaa		2,013,945
3,000,000		Hertz Vehicle Financing LLC Series 2005-2A
		(Class A2)	4.930	02/25/10	Aaa		3,006,697
1,960,379		HFC Home Equity Loan Asset Backed Certificates
		Series 2006-4 (Class A1F)	5.790	03/20/36	Aaa		1,950,322
2,135,283	i	HFC Home Equity Loan Asset Backed Certificates
		Series 2007-1 (Class A1F)	5.910	03/20/36	Aaa		2,126,529
5,000,000	i	HFC Home Equity Loan Asset Backed Certificates
		Series 2007-1 (Class A3F)	5.730	03/20/36	Aaa		4,617,691
15,000,000		Honda Auto Receivables Owner Trust Series 2007-1
		(Class A4)	5.090	07/18/13	NR		15,159,210
1,786,963		Household Automotive Trust Series 2006-2 (Class
		A3)	5.610	08/17/11	Aaa		1,799,022
6,760,000		Household Credit Card Master Note Trust I Series
		2006-1 (Class A)	5.100	06/15/12	Aaa		6,823,348
10,095,670		Hyundai Auto Receivables Trust Series 2006-A
		(Class A3)	5.130	06/15/10	Aaa		10,117,395
3,000,000		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A3)	5.190	02/15/11	Aaa		3,021,983
2,045,384		Marriott Vacation Club Owner Trust Series 2006-
		1A (Class A)	5.737	04/20/28	Aaa		2,072,579
2,330,913		Marriott Vacation Club Owner Trust Series 2007-
		1A (Class A)	5.518	05/20/29	Aaa		2,325,868
9,200,000		Nissan Auto Lease Trust Series 2006-A
		(Class A3)	5.110	03/15/10	Aaa		9,240,623
3,800,000		Nissan Auto Lease Trust Series 2006-A
		(Class A4)	5.100	07/16/12	Aaa		3,835,311

399

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
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	$	5,032,100
237,271		Peco Energy Transition Trust Series 1999-A (Class
		A7)	6.130	03/01/09	Aaa		238,678
172,122		Public Service New Hampshire Funding LLC Series
		2001-1 (Class A2)	5.730	11/01/10	Aaa		172,764
8,000,000	i	Residential Asset Mortgage Products, Inc Series
		2004-RS11 (Class M1)	5.485	11/25/34	Aa1		7,739,277
390,012	i	Residential Asset Securities Corp Series 2001-KS2
		(Class AI6)	6.489	10/25/30	Aaa		388,632
1,350,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-H12 (Class A2)	5.750	02/25/36	Aaa		1,277,672
1,600,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class A3)	5.570	02/25/36	Aaa		1,321,962
200,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M2)	6.060	02/25/36	Aa2		86,661
2,020,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A3)	5.960	02/25/36	Aaa		1,825,434
6,760,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI4 (Class A3)	5.440	09/25/36	Aaa		6,518,953
1,400,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI5 (Class A2)	5.520	04/25/21	Aaa		1,327,052
2,500,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI5 (Class A3)	5.500	08/25/25	Aaa		2,174,642
2,020,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HSA2 (Class AI3)	5.550	03/25/36	Aaa		1,753,914
852,829	m	Sierra Receivables Funding Co Series 2006-1A
		(Class A1)	5.840	05/20/18	Aaa		877,381
7,866,667	m,v	Sonic Capital LLC Series 2006-1A (Class A2)	5.096	12/20/31	Aaa		7,556,610
5,000,000		Triad Auto Receivables Owner Trust Series 2005-A
		(Class A4)	4.220	06/12/12	Aaa		4,978,851
9,000,000		Volkswagen Auto Lease Trust Series 2006-A (Class A3)	5.500	09/21/09	Aaa		9,041,085
10,000,000		Volkswagen Auto Lease Trust Series 2006-A (Class A4)	5.540	04/20/11	Aaa		10,101,096
8,000,000		Wachovia Auto Loan Owner Trust Series 2006-2A
		(Class A3)	5.230	08/22/11	Aaa		8,013,329
876,023	i	Wachovia Loan Trust Series 2005-SD1 (Class A)	5.225	05/25/35	NR		853,593
		TOTAL ASSET BACKED					214,007,616
OTHER MORTGAGE BACKED SECURITIES - 5.61%
2,230,000		Banc of America Commercial Mortgage, Inc Series
		2002-2 (Class A3)	5.118	07/11/43	NR		2,256,069
2,000,000	i	Banc of America Commercial Mortgage, Inc Series
		2005-1 (Class B)	4.990	11/10/42	NR		1,918,098
650,000	i	Banc of America Commercial Mortgage, Inc Series
		2005-6 (Class AJ)	5.181	09/10/47	Aaa		610,836
670,000	i	Banc of America Commercial Mortgage, Inc Series
		2006-2 (Class A4)	5.740	05/10/45	NR		692,479
2,000,000		Banc of America Commercial Mortgage, Inc Series
		2006-4 (Class A4)	5.634	07/10/46	Aaa		2,042,180
2,250,000		Banc of America Commercial Mortgage, Inc Series
		2007-2 (Class A2)	5.634	04/10/49	NR		2,281,897
1,825,451		Banc of America Mortgage Securities, Inc Series
		2006-1 (Class A8)	6.000	05/25/36	Aaa		1,835,641

400

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        395,088		Bank of America Alternative Loan Trust Series
		2004-8 (Class 3A1)	5.500%	09/25/19	Aaa	$	388,814
2,000,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2005-PW10 (Class AJ)	5.459	12/11/40	Aaa		1,912,569
2,075,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-PW11 (Class A4)	5.457	03/11/39	NR		2,105,929
2,000,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-PW14 (Class A4)	5.201	12/11/38	NR		1,979,938
1,000,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-T22 (Class A4)	5.465	04/12/38	Aaa		1,020,677
1,465,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-T24 (Class A4)	5.537	10/12/41	Aaa		1,487,710
2,020,000		Citigroup/Deutsche Bank Commercial Mortgage
		Trust Series 2006-CD3 (Class A5)	5.617	10/15/48	Aaa		2,059,312
3,681,446		Citimortgage Alternative Loan Trust Series 2006-A1
		(Class 2A1)	5.250	03/25/21	Aaa		3,714,812
1,493,341		Countrywide Home Loan Mortgage Pass Through
		Trust Series 2005-17 (Class 1A10)	5.250	09/25/35	NR		1,495,372
4,286,054		Countrywide Home Loan Mortgage Pass Through
		Trust Series 2007-3 (Class A10)	6.000	04/25/37	NR		4,321,965
1,480,000	i	Credit Suisse Mortgage Capital Certificates Series
		2006-C1 (Class A4)	5.555	02/15/39	NR		1,502,431
1,620,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C4 (Class A3)	5.467	09/15/39	Aaa		1,632,658
2,000,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C5 (Class A3)	5.311	12/15/39	Aaa		1,993,045
2,970,782	i	Credit Suisse/Morgan Stanley Commercial
		Mortgage Certificate Series HC1A (Class A1)	5.218	05/15/23	Aaa		2,926,644
1,120,000		GE Capital Commercial Mortgage Corp Series 2003-
		C2 (Class A4)	5.145	07/10/37	Aaa		1,130,295
1,000,000	i	GE Capital Commercial Mortgage Corp Series 2005-
		C3 (Class A5)	4.979	07/10/45	NR		987,933
1,350,000	i	Greenwich Capital Commercial Funding Corp
		Series 2004-GG1 (Class A7)	5.317	06/10/36	Aaa		1,373,858
2,000,000	i	Greenwich Capital Commercial Funding Corp
		Series 2007-GG11 (Class A2)	5.597	12/10/49	NR		2,020,306
1,350,000		GS Mortgage Securities Corp II Series 2006-GG8
		(Class A4)	5.560	11/10/39	Aaa		1,371,053
2,000,000	i	GS Mortgage Securities Corp II Series 2007-GG10
		(Class A2)	5.778	08/10/45	Aaa		2,038,430
1,845,610	i	GSAA Trust Series 2004-3 (Class AF3)	5.691	04/25/34	Aaa		1,850,100
1,490,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2003-CB6 (Class A2)	5.255	07/12/37	Aaa		1,511,763
1,500,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2006-LDP7 (Class A2)	5.861	04/15/45	Aaa		1,535,601
2,000,000		JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-CB18 (Class A4)	5.440	06/12/47	Aaa		2,007,922
2,500,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-LD11 (Class AJ)	5.819	06/15/49	Aaa		2,413,879
6,760,000	i	LB-UBS Commercial Mortgage Trust Series 2004-
		C7 (Class A6)	4.786	10/15/29	Aaa		6,684,544
870,000		LB-UBS Commercial Mortgage Trust Series 2005-
		C3 (Class A2)	4.553	07/15/30	Aaa		861,967

401

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        1,350,000	i	LB-UBS Commercial Mortgage Trust Series 2005-
		C5 (Class AJ)	5.057%	09/15/40	NR	$	1,248,849
1,000,000	i	LB-UBS Commercial Mortgage Trust Series 2006-
		C4 (Class A4)	5.883	06/15/38	Aaa		1,043,576
870,000	i	Merrill Lynch Mortgage Trust Series 2005-LC1
		(Class A4)	5.291	01/12/44	Aaa		867,510
700,000	i	Merrill Lynch Mortgage Trust Series 2006-C1
		(Class A4)	5.659	05/12/39	NR		720,733
1,400,000	i	Merrill Lynch/Countrywide Commercial Mortgage
		Trust Series 2006-1 (Class A4)	5.428	02/12/39	NR		1,419,243
3,380,000		Morgan Stanley Capital I Series 2005-HQ5 (Class
		A2)	4.809	01/14/42	NR		3,368,405
1,543,309	i	Morgan Stanley Capital I Series 2006-HE1 (Class
		A2)	4.985	01/25/36	Aaa		1,519,965
2,000,000	i	Morgan Stanley Capital I Series 2006-HQ8 (Class
		AJ)	5.468	03/12/44	Aaa		1,918,308
670,000	i	Morgan Stanley Capital I Series 2006-HQ9 (Class
		A4)	5.731	07/12/44	NR		688,506
300,000	i	Morgan Stanley Capital I Series 2006-IQ11 (Class
		AJ)	5.777	10/15/42	NR		290,236
2,200,000		Morgan Stanley Capital I Series 2006-IQ12 (Class
		A2)	5.283	12/15/43	NR		2,204,556
675,000	i	Morgan Stanley Capital I Series 2006-T21 (Class
		AJ)	5.273	10/12/52	Aaa		634,328
2,000,000		Morgan Stanley Capital I Series 2007-HQ11 (Class
		A31)	5.439	02/12/44	Aaa		1,995,402
1,200,000		Residential Accredit Loans, Inc Series 2005-QS17
		(Class A1)	6.000	12/25/35	Aaa		1,152,283
1,350,000	i	Wachovia Bank Commercial Mortgage Trust Series
		2005-C20 (Class A7)	5.118	07/15/42	Aaa		1,326,724
540,000	i	Wachovia Bank Commercial Mortgage Trust Series
		2006-C24 (Class A3)	5.558	03/15/45	Aaa		547,850
1,500,000		Wachovia Bank Commercial Mortgage Trust Series
		2007-C31 (Class A2)	5.421	04/15/47	Aaa		1,506,660
5,636,516		Washington Mutual, Inc Series 2003-S10 (Class A1)	4.500	10/25/18	NR		5,507,182
2,265,650		Wells Fargo Mortgage Backed Securities Trust
		Series 2005-1 (Class 2A1)	5.000	01/25/20	Aaa		2,246,377
1,890,491	i	Wells Fargo Mortgage Backed Securities Trust
		Series 2006-AR4 (Class 1A1)	5.857	04/25/36	NR		1,854,373
		TOTAL OTHER MORTGAGE BACKED SECURITIES					98,027,793
		TOTAL STRUCTURED ASSETS					312,035,409
		(Cost $315,366,834)
SHARES		COMPANY
PREFERRED STOCKS - 0.03%
DEPOSITORY INSTITUTIONS - 0.03%
24,000		Bank of America Corp	6.204	12/30/49	Aa3		520,800
		TOTAL PREFERRED STOCKS					520,800
		(Cost $600,000)

402

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
			MATURITY
PRINCIPAL		ISSUER	DATE		VALUE
SHORT-TERM INVESTMENTS - 3.10%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 2.85%
$        19,070,000		Federal Home Loan Bank (FHLB)	01/02/08	$	19,070,000
20,000,000		FHLB	01/11/08		19,980,400
10,740,000		Federal National Mortgage Association (FNMA)	02/01/08		10,703,130
					49,753,530
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.25%
4,344,770		State Street Navigator Securities Lending Prime Portfolio			4,344,770
					4,344,770
		TOTAL SHORT-TERM INVESTMENTS			54,098,300
		(Cost $54,089,761)
		TOTAL PORTFOLIO - 100.85%			1,760,968,049
		(Cost $1,745,885,650)
		OTHER ASSETS & LIABILITIES, NET - (0.85)%			(14,819,589	)
		NET ASSETS - 100.00%		$	1,746,148,460
		ABBREVIATION:
		NR - Not Rated
	+	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 December 31, 2007, the value of these securities amounted to $59,875,702 or 3.43% of net assets.
	i	Floating rate or variable rate securities reflects the rate at December 31, 2007.
	j	Zero coupon.
	v	Security valued at fair value.
		At December 31, 2007, the unrealized appreciation on investments was $15,082,374, consisting of
		gross unrealized appreciation of $27,472,894 and gross unrealized depreciation of $12,390,520.

403

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
BOND PLUS FUND II
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
BONDS - 73.41%
CORPORATE BONDS - 26.66%
AMUSEMENT AND RECREATION SERVICES - 0.11%
$        350,000		Walt Disney Co	5.700%	07/15/11	A2	$	364,829
250,000		Walt Disney Co	4.700	12/01/12	A2		249,992
		TOTAL AMUSEMENT AND RECREATION SERVICES					614,821
APPAREL AND ACCESSORY STORES - 0.04%
250,000		Kohl's Corp	6.250	12/15/17	Baa1		251,185
		TOTAL APPAREL AND ACCESSORY STORES					251,185
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.14%						$
500,000		Home Depot, Inc	5.400	03/01/16	Baa1		473,725
275,000		Lowe's Cos, Inc	8.250	06/01/10	A1		300,451
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					774,176
BUSINESS SERVICES - 0.12%
250,000		Daimler Finance North America LLC	5.875	03/15/11	A3		253,675
250,000		Daimler Finance North America LLC	5.750	09/08/11	A3		253,713
187,000	g	Lamar Media Corp	6.625	08/15/15	Ba3		181,858
		TOTAL BUSINESS SERVICES					689,246
CHEMICALS AND ALLIED PRODUCTS - 0.43%
150,000		Abbott Laboratories	5.600	05/15/11	A1		155,347
500,000	g	Amgen, Inc	5.850	06/01/17	A2		507,555
500,000		Chemtura Corp	6.875	06/01/16	Ba2		470,000
200,000		Clorox Co	5.950	10/15/17	Baa1		199,243
300,000		Johnson & Johnson	5.950	08/15/37	Aaa		323,761
550,000		Lubrizol Corp	4.625	10/01/09	Baa3		552,340
200,000		Praxair, Inc	5.250	11/15/14	A2		201,547
		TOTAL CHEMICALS AND ALLIED PRODUCTS					2,409,793
COMMUNICATIONS - 3.30%
500,000		Alamosa Delaware, Inc	8.500	01/31/12	Baa3		509,884
250,000		America Movil SAB de C.V.	6.125	11/15/37	A3		238,066
800,000		AT&T, Inc	5.100	09/15/14	A2		791,724
275,000		AT&T, Inc	6.150	09/15/34	A2		274,540
600,000		AT&T, Inc	6.500	09/01/37	A2		627,407
650,000		AT&T, Inc	6.300	01/15/38	A2		660,395
825,000		Comcast Cable Communications Holdings, Inc	8.375	03/15/13	Baa2		925,553
250,000		Comcast Corp	6.300	11/15/17	Baa2		259,382
950,000		Comcast Corp	5.875	02/15/18	Baa2		947,138
275,000		Comcast Corp	5.650	06/15/35	Baa2		251,719

404

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        550,000		Comcast Corp	6.500%	11/15/35	Baa2	$	561,241
250,000		Comcast Corp	6.950	08/15/37	Baa2		269,818
275,000		Deutsche Telekom International Finance BV	8.250	06/15/30	A3		343,132
625,000		France Telecom S.A.	7.750	03/01/11	A3		671,766
275,000		New Cingular Wireless Services, Inc	7.875	03/01/11	A3		297,816
275,000		New Cingular Wireless Services, Inc	8.750	03/01/31	A3		356,395
1,000,000		Qwest Communications International, Inc	7.250	02/15/11	Ba3		1,000,000
550,000		Rogers Cable, Inc	6.750	03/15/15	Baa3		578,544
500,000		Rogers Wireless, Inc	8.000	12/15/12	Ba1		521,654
550,000		Rogers Wireless, Inc	7.500	03/15/15	Baa3		601,472
1,925,000		Sprint Capital Corp	8.375	03/15/12	Baa3		2,084,821
250,000		Telefonica Emisiones SAU	6.221	07/03/17	Baa1		259,748
500,000		Time Warner Cable, Inc	5.400	07/02/12	Baa2		501,005
1,000,000		Time Warner Cable, Inc	5.850	05/01/17	Baa2		1,002,468
2,200,000		Verizon New Jersey, Inc	5.875	01/17/12	A3		2,265,556
275,000		Verizon Virginia, Inc	4.625	03/15/13	Baa1		265,626
250,000		Viacom, Inc	5.750	04/30/11	Baa3		253,145
250,000		Viacom, Inc	6.125	10/05/17	Baa3		249,989
350,000		Viacom, Inc	6.875	04/30/36	Baa3		350,954
600,000		Vodafone Group plc	6.150	02/27/37	Baa1		592,572
		TOTAL COMMUNICATIONS					18,513,530
DEPOSITORY INSTITUTIONS - 5.66%
1,470,000	g	BA Covered Bond Issuer	5.500	06/14/12	Aaa		1,550,365
3,000,000	g	Banco Bilbao Vizcaya Argentaria S.A.	5.750	07/20/17	Aaa		3,203,313
1,500,000		Banco Nacional de Comercio Exterior SNC	3.875	01/21/09	A1		1,458,750
275,000		Bank of America Corp	6.250	04/15/12	Aa1		288,771
100,000		Bank of America Corp	4.875	09/15/12	Aa1		100,245
650,000		Bank of America NA	5.300	03/15/17	Aa1		632,044
1,050,000		Bank of America NA	6.000	10/15/36	Aa1		1,004,246
550,000		Bank One Corp	5.250	01/30/13	Aa3		548,384
250,000	i	BB&T Capital Trust IV	6.820	06/12/57	A1		235,193
275,000		Capital One Bank	5.125	02/15/14	A2		256,110
300,000		Citigroup, Inc	5.100	09/29/11	Aa3		301,670
1,050,000		Citigroup, Inc	5.250	02/27/12	Aa3		1,058,101
750,000		Citigroup, Inc	5.125	05/05/14	Aa3		731,841
550,000		Citigroup, Inc	5.875	05/29/37	Aa3		513,295
250,000	g,i	Credit Agricole S.A.	6.637	12/30/49	Aa3		231,938
2,700,000	g	Depfa ACS Bank	5.125	03/16/37	Aaa		2,668,742
550,000		Deutsche Bank AG.	5.375	10/12/12	Aa1		563,562
275,000		FIA Card Services NA	5.375	01/15/08	Aaa		275,045
250,000		Golden West Financial Corp	4.750	10/01/12	Aa3		246,843
250,000		Greenpoint Financial Corp	3.200	06/06/08	A3		246,396
700,000		HSBC Holdings plc	6.500	09/15/37	Aa3		678,460
250,000	i	Huntington Capital III	6.650	05/15/37	Baa1		213,538
275,000	i	ING Groep NV	5.775	12/30/49	A1		254,236
550,000		JPMorgan Chase & Co	7.875	06/15/10	Aa3		591,581
275,000	e	JPMorgan Chase & Co	4.500	01/15/12	Aa2		270,618
550,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3		547,826
250,000	i	Manufacturers & Traders Trust Co	5.629	12/01/21	A2		230,913
1,100,000		Mellon Funding Corp	6.400	05/14/11	Aa3		1,162,701
1,450,000	g	Nationwide Building Society	5.500	07/18/12	Aaa		1,506,034
250,000		Popular North America, Inc	5.650	04/15/09	A3		252,447

405

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        275,000	g,i	Rabobank Capital Funding Trust	5.254%	12/30/49	Aa2	$	246,133
550,000		Regions Financial Corp	6.375	05/15/12	A2		564,220
600,000	g	Royal Bank of Scotland Group plc	6.990	12/30/49	Aa3		598,195
250,000	g,i	Societe Generale	5.922	12/30/49	A1		231,338
100,000		Union Bank of California NA	5.950	05/11/16	A1		95,991
550,000		US Bank NA	5.700	12/15/08	Aa2		556,878
250,000	g	VTB Capital S.A.	6.609	10/31/12	A2		245,375
825,000		Wachovia Bank NA	4.800	11/01/14	Aa2		784,234
500,000		Wachovia Bank NA	4.875	02/01/15	Aa2		475,979
350,000		Wachovia Bank NA	5.850	02/01/37	Aa2		315,397
250,000		Wachovia Bank NA	6.600	01/15/38	Aa2		251,255
75,000		Wachovia Corp	5.300	10/15/11	Aa3		75,167
825,000		Wachovia Corp	4.875	02/15/14	A1		792,214
100,000		Washington Mutual, Inc	5.500	08/24/11	Baa2		89,197
2,000,000		Wells Fargo & Co	5.300	08/26/11	Aa1		2,040,716
750,000		Wells Fargo Bank NA	6.450	02/01/11	Aa1		793,464
1,850,000		Wells Fargo Bank NA	4.750	02/09/15	Aa1		1,766,965
		TOTAL DEPOSITORY INSTITUTIONS					31,745,926
EATING AND DRINKING PLACES - 0.06%
300,000		McDonald's Corp	6.300	10/15/37	A3		311,111
		TOTAL EATING AND DRINKING PLACES					311,111
ELECTRIC, GAS, AND SANITARY SERVICES - 2.64%
325,000	g	American Water Capital Corp	6.085	10/15/17	Baa2		323,906
550,000		Atmos Energy Corp	4.000	10/15/09	Baa3		541,946
190,000		Carolina Power & Light Co	5.125	09/15/13	A2		190,367
275,000	e	Carolina Power & Light Co	5.700	04/01/35	A2		265,325
550,000		CenterPoint Energy Resources Corp	7.875	04/01/13	Baa3		603,893
300,000		CenterPoint Energy Resources Corp	6.250	02/01/37	Baa3		287,899
550,000		Centerpoint Energy, Inc	5.950	02/01/17	Ba1		544,887
750,000		Commonwealth Edison Co	3.700	02/01/08	Baa2		749,048
825,000		Consolidated Natural Gas Co	6.250	11/01/11	Baa2		857,550
275,000		Consolidated Natural Gas Co	5.000	12/01/14	Baa2		264,361
525,000		Consumers Energy Co	4.400	08/15/09	Baa1		520,429
1,100,000		FirstEnergy Corp	6.450	11/15/11	Baa3		1,135,878
550,000	e	Florida Power & Light Co	4.850	02/01/13	Aa3		551,107
550,000		Florida Power Corp	4.500	06/01/10	A2		553,623
300,000		Midamerican Energy Holdings Co	6.125	04/01/36	Baa1		299,285
250,000		National Fuel Gas Co	5.250	03/01/13	Baa1		247,944
550,000		National Rural Utilities Cooperative Finance Corp	5.750	08/28/09	A2		560,231
250,000		Nevada Power Co	6.650	04/01/36	Baa3		253,101
1,250,000		Nevada Power Co	6.750	07/01/37	Baa3		1,292,118
250,000		Northern States Power Co	6.250	06/01/36	A2		259,784
50,000		ONEOK Partners LP	5.900	04/01/12	Baa2		51,410
1,100,000		Pacific Gas & Electric Co	4.200	03/01/11	A3		1,082,422
500,000		Public Service Co of Colorado	4.875	03/01/13	A3		490,837
275,000		Public Service Co of Colorado	5.500	04/01/14	A3		277,372
250,000		Puget Sound Energy, Inc	6.274	03/15/37	Baa2		245,442
275,000		Southern California Edison Co	5.350	07/15/35	A2		254,109
350,000		Southern California Edison Co	5.550	01/15/37	A2		330,199
600,000		Texas Eastern Transmission LP	7.300	12/01/10	A3		643,178
275,000		Virginia Electric and Power Co	4.750	03/01/13	Baa1		267,219

406

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        275,000		Waste Management, Inc	7.750%	05/15/32	Baa3	$	311,939
550,000		Westar Energy, Inc	6.000	07/01/14	Baa2		560,815
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					14,817,624
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.09%
275,000		Cisco Systems, Inc	5.500	02/22/16	A1		279,667
250,000		General Electric Co	5.250	12/06/17	Aaa		249,467
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					529,134
FOOD AND KINDRED PRODUCTS - 0.63%
400,000		Anheuser-Busch Co, Inc	5.500	01/15/18	A2		408,352
328,000		Archer-Daniels-Midland Co	7.125	03/01/13	A2		362,979
275,000		Bottling Group LLC	4.625	11/15/12	Aa2		275,877
250,000		Bunge Ltd Finance Corp	5.875	05/15/13	Baa2		254,215
250,000		Bunge Ltd Finance Corp	5.100	07/15/15	Baa2		236,783
100,000		Coca-Cola Co	5.350	11/15/17	Aa3		102,454
500,000		Companhia Brasileira de Bebidas	8.750	09/15/13	Baa1		568,750
313,000		Diageo Capital plc	5.125	01/30/12	A3		313,339
220,000		Diageo Finance BV	3.875	04/01/11	A3		213,016
550,000		Kraft Foods, Inc	6.500	11/01/31	Baa2		539,494
275,000		WM Wrigley Jr Co	4.650	07/15/15	A1		264,732
		TOTAL FOOD AND KINDRED PRODUCTS					3,539,991
FOOD STORES - 0.37%
550,000	e	Kroger Co	6.800	04/01/11	Baa2		578,815
500,000		Kroger Co	6.400	08/15/17	Baa2		522,957
550,000		Safeway, Inc	4.125	11/01/08	Baa2		544,086
400,000		Safeway, Inc	6.350	08/15/17	Baa2		416,906
		TOTAL FOOD STORES					2,062,764
GENERAL BUILDING CONTRACTORS - 0.09%
500,000		DR Horton, Inc	9.750	09/15/10	Ba2		489,609
		TOTAL GENERAL BUILDING CONTRACTORS					489,609
GENERAL MERCHANDISE STORES - 0.23%
250,000		JC Penney Corp, Inc	5.750	02/15/18	Baa3		234,829
250,000		Target Corp	5.375	05/01/17	A2		244,341
825,000		Wal-Mart Stores, Inc	4.125	02/15/11	Aa2		819,358
		TOTAL GENERAL MERCHANDISE STORES					1,298,528
HEALTH SERVICES - 0.09%
500,000		Quest Diagnostics, Inc	6.400	07/01/17	Baa3		516,868
		TOTAL HEALTH SERVICES					516,868
HOLDING AND OTHER INVESTMENT OFFICES - 0.51%
300,000		BHP Billiton Finance Ltd	5.400	03/29/17	A1		288,536
275,000		Colonial Realty LP	6.250	06/15/14	Baa3		270,059
550,000	e	iStar Financial, Inc	5.150	03/01/12	Baa2		475,319
275,000		iStar Financial, Inc	5.700	03/01/14	Baa2		230,259
500,000	e	iStar Financial, Inc	5.850	03/15/17	Baa2		410,973
550,000		Simon Property Group LP	5.600	09/01/11	A3		551,796
600,000		Sungard Data Systems, Inc	10.250	08/15/15	Caa1		613,500
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					2,840,442

407

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
HOTELS AND OTHER LODGING PLACES - 0.04%
$        250,000		MGM Mirage	6.000%	10/01/09	Ba2	$	248,750
		TOTAL HOTELS AND OTHER LODGING PLACES					248,750
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.48%
500,000	g	Atlas Copco AB	5.600	05/22/17	A3		500,183
550,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		543,573
500,000		Caterpillar, Inc	6.050	08/15/36	A2		513,068
250,000		Hewlett-Packard Co	5.250	03/01/12	A2		256,071
600,000		Hewlett-Packard Co	5.400	03/01/17	A2		598,667
275,000		John Deere Capital Corp	7.000	03/15/12	A2		299,443
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					2,711,005
INSTRUMENTS AND RELATED PRODUCTS - 0.23%
275,000		Johnson & Johnson	3.800	05/15/13	Aaa		268,630
275,000		Medtronic, Inc	4.750	09/15/15	A1		265,366
275,000		Thermo Fisher Scientific, Inc	5.000	06/01/15	Baa2		255,475
500,000		Xerox Corp	7.625	06/15/13	Baa2		521,770
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					1,311,241
INSURANCE CARRIERS - 0.99%
460,000		Aetna, Inc	6.625	06/15/36	A3		455,403
100,000		Aetna, Inc	6.750	12/15/37	A3		99,750
275,000		Allstate Corp	5.000	08/15/14	A1		268,868
550,000		American International Group, Inc	5.050	10/01/15	Aa2		531,148
600,000	i	Chubb Corp	6.375	03/29/37	A3		585,247
400,000		Chubb Corp	6.000	05/11/37	A2		377,887
275,000	g	Liberty Mutual Group, Inc	6.500	03/15/35	Baa2		250,917
250,000	g	Mantis Reef Ltd	4.799	11/03/09	A3		253,576
550,000		Metlife, Inc	5.000	06/15/15	A2		532,261
275,000		Metlife, Inc	5.700	06/15/35	A2		251,117
500,000	g	Pricoa Global Funding I	3.900	12/15/08	Aa3		494,621
600,000	g	Principal Life Global Funding I	5.125	10/15/13	Aa2		607,675
300,000	g	Prudential Funding LLC	6.750	09/15/23	A1		315,554
250,000		WellPoint, Inc	5.875	06/15/17	Baa1		251,701
275,000		WellPoint, Inc	5.850	01/15/36	Baa1		253,395
		TOTAL INSURANCE CARRIERS					5,529,120
METAL MINING - 0.12%
150,000		Barrick Gold Finance Co	4.875	11/15/14	Baa1		143,195
275,000	g	Corp Nacional del Cobre de Chile - CODELCO	4.750	10/15/14	Aa3		264,730
250,000		Vale Overseas Ltd	6.250	01/11/16	Baa3		250,401
		TOTAL METAL MINING					658,326
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.14%
250,000	g	Controladora Mabe S.A. C.V.	6.500	12/15/15	NR		247,188
500,000		Harsco Corp	5.125	09/15/13	A3		514,990
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES					762,178
MISCELLANEOUS RETAIL - 0.09%
500,000		CVS Caremark Corp	5.750	06/01/17	Baa2		503,218
		TOTAL MISCELLANEOUS RETAIL					503,218

408

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
MOTION PICTURES - 0.78%
$        275,000		Historic TW, Inc	6.625%	05/15/29	Baa2	$	270,744
1,000,000		News America Holdings, Inc	8.250	08/10/18	Baa2		1,168,502
250,000		News America, Inc	7.625	11/30/28	Baa2		277,038
500,000		News America, Inc	6.150	03/01/37	Baa2		482,995
1,375,000		Time Warner, Inc	6.875	05/01/12	Baa2		1,447,887
750,000		Time Warner, Inc	6.500	11/15/36	Baa2		729,755
		TOTAL MOTION PICTURES					4,376,921
NONDEPOSITORY INSTITUTIONS - 3.07%
500,000		American Express Centurion Bank	6.000	09/13/17	Aa3		502,787
550,000	g	American Honda Finance Corp	5.125	12/15/10	Aa3		565,260
350,000		Boeing Capital Corp Ltd	6.100	03/01/11	A3		366,857
550,000		Capital One Financial Corp	5.700	09/15/11	A3		531,334
550,000		Capital One Financial Corp	5.500	06/01/15	A3		507,304
350,000		CIT Group Funding Co of Canada	5.200	06/01/15	A2		299,655
600,000		CIT Group, Inc	5.850	09/15/16	A2		529,729
250,000		Countrywide Home Loans, Inc	3.250	05/21/08	Baa3		225,917
500,000		Ford Motor Credit Co	5.700	01/15/10	B1		450,489
600,000		Ford Motor Credit Co	9.875	08/10/11	B1		567,497
1,000,000		Ford Motor Credit Co	7.800	06/01/12	B1		876,662
3,000,000		General Electric Capital Corp	5.500	06/04/14	Aaa		3,095,424
1,000,000		General Motors Acceptance Corp LLC	6.625	05/15/12	Ba3		831,317
275,000	g,i	HSBC Capital Funding LP	4.610	12/30/49	A1		253,138
650,000		HSBC Finance Corp	5.250	01/14/11	Aa3		649,780
1,500,000		HSBC Finance Corp	5.900	06/19/12	Aa3		1,523,771
2,500,000		HSBC Finance Corp	4.750	07/15/13	Aa3		2,409,708
500,000		International Lease Finance Corp	5.450	03/24/11	A1		503,873
250,000		International Lease Finance Corp	5.750	06/15/11	A1		253,136
250,000		International Lease Finance Corp	5.650	06/01/14	A1		254,051
200,000	g	Lukoil International Finance BV	6.356	06/07/17	Baa2		189,340
275,000		MBNA Corp	6.125	03/01/13	Aa1		286,547
550,000		Residential Capital LLC	7.625	11/21/08	Ba3		437,250
250,000		Residential Capital LLC	8.000	06/01/12	Ba3		153,750
1,100,000		Residential Capital LLC	8.000	04/17/13	Ba3		676,500
275,000		Toyota Motor Credit Corp	2.875	08/01/08	Aaa		271,374
		TOTAL NONDEPOSITORY INSTITUTIONS					17,212,450
OIL AND GAS EXTRACTION - 1.32%
250,000		Baker Hughes, Inc	6.875	01/15/29	A2		270,910
300,000		BJ Services Co	5.750	06/01/11	Baa1		307,584
1,100,000		Chesapeake Energy Corp	6.500	08/15/17	Ba3		1,061,500
250,000	g	Empresa Nacional del Petroleo	6.750	11/15/12	A2		266,566
250,000		EnCana Corp	6.500	02/01/38	Baa2		258,344
250,000		Equitable Resources, Inc	5.150	11/15/12	Baa1		254,294
500,000		Husky Energy, Inc	6.250	06/15/12	Baa2		525,666
275,000		Nexen, Inc	5.050	11/20/13	Baa2		267,040
1,000,000		Nexen, Inc	5.650	05/15/17	Baa2		986,788
550,000		Nexen, Inc	6.400	05/15/37	Baa2		549,077
275,000		PC Financial Partnership	5.000	11/15/14	Baa2		267,453
500,000	g	TNK-BP Finance S.A.	6.625	03/20/17	Baa2		456,250
750,000	g	Weatherford International, Inc	5.950	06/15/12	Baa1		778,678
500,000	g	Weatherford International, Inc	6.800	06/15/37	Baa1		520,216

409

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        600,000		XTO Energy, Inc	6.250%	04/15/13	Baa2	$	627,611
		TOTAL OIL AND GAS EXTRACTION					7,397,977
PAPER AND ALLIED PRODUCTS - 0.25%
500,000	e	Bemis Co, Inc	4.875	04/01/12	Baa1		506,171
600,000		Cenveo Corp	7.875	12/01/13	B3		534,750
350,000		Kimberly-Clark Corp	6.625	08/01/37	A2		387,391
		TOTAL PAPER AND ALLIED PRODUCTS					1,428,312
PETROLEUM AND COAL PRODUCTS - 0.20%
625,000		ConocoPhillips	4.750	10/15/12	A3		630,276
250,000	g	GS Caltex Corp	5.500	04/24/17	Baa1		234,313
250,000		Valero Energy Corp	6.625	06/15/37	Baa3		251,768
		TOTAL PETROLEUM AND COAL PRODUCTS					1,116,357
PIPELINES, EXCEPT NATURAL GAS - 0.56%
250,000		Enbridge Energy Partners LP	4.000	01/15/09	Baa2		248,467
550,000		Enterprise Products Operating LP	4.950	06/01/10	Baa3		550,366
275,000		Enterprise Products Operating LP	5.600	10/15/14	Baa3		274,448
550,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		547,463
550,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		552,623
275,000		TransCanada Pipelines Ltd	4.000	06/15/13	A2		262,602
300,000		TransCanada Pipelines Ltd	5.850	03/15/36	A2		287,522
200,000		TransCanada Pipelines Ltd	6.200	10/15/37	A2		198,579
250,000	i	TransCanada Pipelines Ltd	6.350	05/15/67	A3		234,320
		TOTAL PIPELINES, EXCEPT NATURAL GAS					3,156,390
PRIMARY METAL INDUSTRIES - 0.04%
210,000	g	Xstrata Finance Canada Ltd	5.500	11/16/11	Baa2		213,641
		TOTAL PRIMARY METAL INDUSTRIES					213,641
PRINTING AND PUBLISHING - 0.46%
600,000		Idearc, Inc	8.000	11/15/16	B2		550,500
732,000		Morris Publishing Group LLC	7.000	08/01/13	B1		531,615
1,500,000		Thomson Corp	5.700	10/01/14	Baa1		1,506,176
		TOTAL PRINTING AND PUBLISHING					2,588,291
RAILROAD TRANSPORTATION - 0.46%
275,000		Burlington Northern Santa Fe Corp	6.750	07/15/11	Baa1		290,490
250,000		Burlington Northern Santa Fe Corp	6.150	05/01/37	Baa1		243,034
550,000		Canadian National Railway Co	4.400	03/15/13	A3		539,481
250,000		CSX Corp	6.150	05/01/37	Baa3		233,631
300,000		Norfolk Southern Corp	5.590	05/17/25	Baa1		277,975
550,000		Union Pacific Corp	6.500	04/15/12	Baa2		581,358
400,000		Union Pacific Corp	5.750	11/15/17	Baa2		398,481
		TOTAL RAILROAD TRANSPORTATION					2,564,450
RUBBER AND MISCELLANEOUS PLASTIC PRODUCT - 0.05%
275,000	g	Sealed Air Corp	5.375	04/15/08	Baa3		274,844
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT					274,844
SECURITY AND COMMODITY BROKERS - 1.88%
275,000		Bear Stearns Cos, Inc	5.700	11/15/14	A2		260,782

410

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        550,000		Burlington Resources Finance Co	6.400%	08/15/11	A2	$	580,831
275,000		Burlington Resources Finance Co	7.200	08/15/31	A2		318,665
600,000		Credit Suisse USA, Inc	5.500	08/16/11	Aa1		616,514
750,000		Eaton Vance Corp	6.500	10/02/17	A3		786,848
500,000		Franklin Resources, Inc	3.700	04/15/08	A1		498,814
500,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		445,163
275,000		Goldman Sachs Group, Inc	5.000	01/15/11	Aa3		277,184
600,000		Goldman Sachs Group, Inc	5.300	02/14/12	Aa3		606,833
275,000		Goldman Sachs Group, Inc	5.150	01/15/14	Aa3		272,212
100,000		Goldman Sachs Group, Inc	5.625	01/15/17	A1		97,658
500,000		Goldman Sachs Group, Inc	6.750	10/01/37	A1		489,889
500,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3		445,625
600,000		Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		593,693
250,000	i	Lehman Brothers Holdings, Inc	6.000	05/03/32	A2		222,204
275,000		Merrill Lynch & Co, Inc	5.000	02/03/14	A1		262,330
500,000		Merrill Lynch & Co, Inc	5.700	05/02/17	A2		476,547
1,375,000		Morgan Stanley	3.625	04/01/08	Aa3		1,369,180
500,000		Morgan Stanley	5.375	10/15/15	Aa3		486,076
900,000		Morgan Stanley	5.750	10/18/16	Aa3		888,090
250,000		Morgan Stanley	6.250	08/09/26	Aa3		244,037
300,000	g	Nuveen Investments, Inc	10.500	11/15/15	B3		298,875
		TOTAL SECURITY AND COMMODITY BROKERS					10,538,050
TRANSPORTATION BY AIR - 0.10%
550,000		FedEx Corp	3.500	04/01/09	Baa2		541,113
		TOTAL TRANSPORTATION BY AIR					541,113
TRANSPORTATION EQUIPMENT - 0.54%
275,000		General Dynamics Corp	3.000	05/15/08	A2		273,406
700,000		Honeywell International, Inc	5.700	03/15/37	A2		691,107
400,000		Lockheed Martin Corp	6.150	09/01/36	Baa1		413,708
275,000		Northrop Grumman Corp	7.750	02/15/31	Baa1		337,110
1,100,000		United Technologies Corp	6.350	03/01/11	A2		1,171,267
150,000		United Technologies Corp	6.050	06/01/36	A2		154,333
		TOTAL TRANSPORTATION EQUIPMENT					3,040,931
WHOLESALE TRADE-DURABLE GOODS - 0.09%
500,000		Vale Overseas Ltd	6.250	01/23/17	Baa3		501,553
		TOTAL WHOLESALE TRADE-DURABLE GOODS					501,553
WHOLESALE TRADE-NONDURABLE GOODS - 0.26%
825,000		Procter & Gamble Co	4.950	08/15/14	Aa3		836,016
600,000		Procter & Gamble Co	5.550	03/05/37	Aa3		603,413
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					1,439,429
		TOTAL CORPORATE BONDS					149,519,295
		(Cost $150,269.908)
GOVERNMENT BONDS - 46.75%
AGENCY SECURITIES - 3.63%
1,889,361		Cal Dive I- Title XI, Inc	4.930	02/01/27	NR		1,931,135
500,000		Egypt Government AID Bonds	4.450	09/15/15	Aaa		497,395

411

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        3,000,000		Federal Home Loan Bank (FHLB)	5.000%	10/16/09	Aaa	$	3,018,255
2,000,000		Federal Home Loan Mortgage Corp (FHLMC)	3.500	05/21/08	Aaa		1,990,230
200,000		FHLMC	5.750	06/27/16	Aa2		215,965
2,000,000		Federal National Mortgage Association (FNMA)	5.375	06/12/17	Aaa		2,124,548
2,000,000		FNMA	5.625	07/15/37	Aaa		2,216,540
1,000,000		Private Export Funding Corp	7.200	01/15/10	Aaa		1,070,167
2,000,000		Private Export Funding Corp	5.450	09/15/17	Aaa		2,127,284
5,000,000		US Department of Housing and Urban
		Development	4.790	08/01/11	NR		5,186,965
		TOTAL AGENCY SECURITIES					20,378,484
FOREIGN GOVERNMENT BONDS - 3.36%
500,000		African Development Bank	3.250	08/01/08	Aaa		496,717
275,000		Chile Government International Bond	5.500	01/15/13	A2		286,858
500,000		China Development Bank	5.000	10/15/15	A1		493,188
250,000		Development Bank of Japan	4.250	06/09/15	Aaa		244,016
350,000		Eksportfinans A/S	5.000	02/14/12	Aaa		361,270
500,000	g	Emirate of Abu Dhabi	5.500	08/02/12	Aa2		514,231
275,000		European Investment Bank	4.875	02/15/36	Aaa		270,560
500,000	g	Federal Republic of Germany	3.875	06/01/10	Aaa		501,768
5,000,000	g	Hypothekenbank in Essen AG.	5.000	01/20/12	Aaa		5,160,590
500,000		International Finance Corp	5.125	05/02/11	Aaa		524,378
750,000		Israel Government International Bond	5.500	11/09/16	A2		763,928
225,000		Italy Government International Bond	5.375	06/12/17	NR		238,506
1,100,000		Italy Government International Bond	6.875	09/27/23	Aa2		1,313,072
275,000		Korea Development Bank	5.750	09/10/13	Aa3		278,707
275,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		280,762
300,000		Kreditanstalt fuer Wiederaufbau	4.875	01/17/17	Aaa		309,081
500,000		Landwirtschaftliche Rentenbank	5.250	07/02/12	Aaa		527,602
550,000		Landwirtschaftliche Rentenbank	5.125	02/01/17	Aaa		576,029
173,000		Mexico Government International Bond	6.375	01/16/13	Baa1		183,986
979,000		Mexico Government International Bond	5.875	01/15/14	Baa1		1,018,160
600,000		Mexico Government International Bond	6.750	09/27/34	Baa1		662,700
50,000		Oesterreichische Kontrollbank AG.	5.000	04/25/17	Aaa		51,750
500,000	e	Province of Manitoba Canada	4.450	04/12/10	Aa1		505,692
600,000		Province of Manitoba Canada	5.000	02/15/12	Aa1		622,549
550,000		Province of Ontario	4.750	01/19/16	Aa1		557,180
300,000		Province of Quebec Canada	5.125	11/14/16	Aa2		310,147
550,000		Province of Saskatchewan Canada	8.000	02/01/13	Aa1		633,916
1,100,000		Svensk Exportkredit AB	5.125	03/01/17	Aa1		1,134,067
		TOTAL FOREIGN GOVERNMENT BONDS					18,821,410
MORTGAGE BACKED SECURITIES - 34.52%
2,030,156		Federal Home Loan Mortgage Corp (FHLMC)	6.000	09/15/16			2,086,286
1,500,000		FHLMC	4.000	09/15/19			1,421,150
2,000,000		FHLMC	5.000	06/15/29			2,009,904
353,952		FHLMC	6.000	12/15/30			358,089
3,000,000		FHLMC	5.000	06/15/31			2,993,882
1,500,000		FHLMC	5.500	05/15/33			1,498,117
853,453		FHLMC	4.500	09/15/35			836,449
1,139,409	i	FHLMC	5.089	02/01/36			1,141,830
3,266,805	i	FHLMC	5.793	07/01/36			3,308,362
920,449	i	FHLMC	5.020	09/01/36			924,475

412

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$        1,487,032	i	FHLMC	6.125%	09/01/36	$	1,508,353
997,643	i	FHLMC	5.723	02/01/37		1,012,212
1,701,085	i	FHLMC	5.672	03/01/37		1,736,640
3,149,972	i	FHLMC	5.792	03/01/37		3,204,582
237,324	i	FHLMC	5.880	04/01/37		240,294
7,326,700	i	FHLMC	5.735	06/01/37		7,440,068
1,270,769	i	FHLMC	5.910	08/01/37		1,292,343
45,290		FHLMC	8.375	12/30/49		1,184,334
39,811		Federal Home Loan Mortgage Corp Gold (FGLMC)	7.000	09/01/10		40,865
114,411		FGLMC	6.500	12/01/16		118,478
1,182,458		FGLMC	5.500	01/01/19		1,198,795
2,014,930		FGLMC	4.500	07/01/20		1,980,064
761,941		FGLMC	4.500	09/01/20		748,757
719,399		FGLMC	5.000	10/01/20		720,105
1,516,285		FGLMC	5.500	10/01/20		1,535,007
87,467		FGLMC	7.000	10/01/20		91,928
605,379		FGLMC	4.500	06/01/21		594,904
1,534,913		FGLMC	5.500	08/01/21		1,553,703
259,915		FGLMC	6.500	01/01/29		269,419
23,835		FGLMC	8.000	01/01/31		25,526
3,969,226		FGLMC	5.500	12/01/33		3,972,371
2,257,327		FGLMC	5.000	01/01/34		2,205,842
1,047,702		FGLMC	4.500	10/01/34		991,368
762,653		FGLMC	5.500	12/01/34		761,974
1,738,111		FGLMC	5.500	03/01/35		1,735,197
2,200,846		FGLMC	6.000	05/01/35		2,235,358
1,259,869		FGLMC	5.500	06/01/35		1,257,758
2,573,832		FGLMC	5.500	06/01/35		2,569,517
408,607		FGLMC	5.000	10/01/35		398,937
819,281		FGLMC	5.000	11/01/35		799,891
928,993		FGLMC	7.000	01/01/36		971,404
863,921		FGLMC	5.500	04/01/36		862,247
164,479		FGLMC	6.500	05/01/36		169,105
847,099		FGLMC	6.500	10/01/36		870,920
396,517		FGLMC	6.500	12/01/36		404,501
972,795		FGLMC	5.500	01/01/37		970,910
1,934,404		FGLMC	5.500	04/01/37		1,930,411
2,704,001		FGLMC	5.500	05/01/37		2,698,420
1,228,118		FGLMC	6.000	08/01/37		1,246,459
158,826		FGLMC	6.000	09/01/37		161,198
634,052		Federal National Mortgage Association (FNMA)	6.283	12/01/08		638,665
62,551		FNMA	5.000	06/01/13		63,393
2,322,887		FNMA	4.719	02/01/14		2,330,287
2,867,535		FNMA	4.640	11/01/14		2,847,651
426,548		FNMA	4.557	01/01/15		423,389
243,477		FNMA	6.500	10/01/16		252,110
100,070		FNMA	6.500	11/01/16		103,618
171,993		FNMA	6.500	02/01/18		177,752
418,208		FNMA	5.500	04/01/18		424,520
150,873		FNMA	5.500	05/01/18		153,116
196,234		FNMA	6.000	01/01/19		201,144
1,000,000		FNMA	4.000	02/25/19		938,429
1,438,848		FNMA	4.500	04/01/19		1,415,154

413

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$        167,007		FNMA	4.500%	12/01/20	$	164,213
41,755		FNMA	8.000	03/01/23		44,648
737,483		FNMA	5.500	02/01/24		742,112
1,713,561		FNMA	5.500	07/01/24		1,722,972
3,996,187		FNMA	5.000	10/01/25		3,940,703
24,489		FNMA	9.000	11/01/25		26,667
23,844		FNMA	7.500	01/01/29		25,516
411,932		FNMA	7.000	07/01/32		433,682
193,337		FNMA	5.000	02/01/33		188,930
887,217		FNMA	4.500	03/25/33		875,957
1,165,284		FNMA	5.500	06/01/33		1,166,149
502,024		FNMA	5.000	07/01/33		490,581
3,216,803		FNMA	5.500	07/01/33		3,219,189
1,366,569		FNMA	4.500	08/01/33		1,294,847
899,290		FNMA	5.000	08/01/33		878,791
1,500,000		FNMA	5.500	08/25/33		1,516,404
1,388,875		FNMA	4.500	10/01/33		1,315,982
612,985		FNMA	5.000	10/01/33		599,012
583,593		FNMA	5.000	10/01/33		570,290
1,202,621		FNMA	5.000	11/01/33		1,175,206
1,193,657		FNMA	5.000	11/01/33		1,166,447
4,934,451		FNMA	5.000	11/01/33		4,821,965
506,375		FNMA	5.500	12/01/33		506,751
460,451		FNMA	5.500	12/01/33		460,793
895,152		FNMA	5.500	12/01/33		895,816
612,067		FNMA	5.500	01/01/34		612,521
242,500		FNMA	5.000	03/01/34		236,973
2,442,769		FNMA	5.000	03/01/34		2,387,084
296,768		FNMA	5.000	03/01/34		290,004
1,206,492		FNMA	5.000	03/01/34		1,178,989
297,560		FNMA	5.000	03/01/34		290,778
1,916,611		FNMA	5.000	04/01/34		1,872,175
4,590,299		FNMA	5.000	08/01/34		4,485,280
600,000		FNMA	5.500	10/25/34		597,005
697,935		FNMA	5.500	01/01/35		697,974
1,637,685		FNMA	5.500	02/01/35		1,638,900
2,427,249		FNMA	5.000	02/25/35		2,439,246
1,854,852		FNMA	5.500	04/01/35		1,854,955
4,594,240		FNMA	5.500	05/01/35		4,591,438
3,517,925		FNMA	5.500	05/01/35		3,515,780
2,714,172		FNMA	6.000	05/01/35		2,757,749
123,078		FNMA	7.500	06/01/35		130,111
618,341		FNMA	6.000	07/01/35		628,269
4,311,804		FNMA	6.000	08/01/35		4,381,031
1,250,350		FNMA	5.500	09/01/35		1,251,278
3,291,649		FNMA	5.000	10/01/35		3,213,547
263,757		FNMA	5.000	10/01/35		257,499
990,242		FNMA	5.500	12/01/35		989,639
1,675,428		FNMA	6.000	03/01/36		1,701,722
2,814,405		FNMA	6.000	04/01/36		2,858,574
727,959		FNMA	6.500	04/01/36		748,373
2,152,957	i	FNMA	5.961	07/01/36		2,205,980
5,958,788	i	FNMA	5.743	09/01/36		6,038,076

414

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$        876,038		FNMA	6.000%	10/01/36	$	889,787
2,657,864	i	FNMA	5.776	12/01/36		2,700,066
1,108,621		FNMA	6.500	12/01/36		1,130,944
480,913		FNMA	7.000	02/01/37		500,269
94,769		FNMA	7.000	04/01/37		98,583
1,970,320		FNMA	6.000	06/01/37		2,000,976
237,026		FNMA	6.000	08/01/37		240,714
322,234		FNMA	6.500	08/01/37		331,236
87,014		FNMA	6.000	09/01/37		88,369
109,109		FNMA	6.000	09/01/37		110,808
1,083,766		FNMA	6.000	09/01/37		1,091,525
137,808		FNMA	6.000	09/01/37		139,953
145,838		FNMA	6.000	09/01/37		148,107
241,381		FNMA	6.500	09/01/37		248,125
1,368,374		FNMA	6.500	09/01/37		1,406,601
649,466		FNMA	6.500	09/01/37		667,610
1,197,209		FNMA	6.500	09/01/37		1,230,654
515,348	i	FNMA	5.933	10/01/37		533,511
113,927		FNMA	6.000	10/01/37		115,700
2,480,125		FNMA	6.500	10/01/37		2,549,409
1,000,000	v	FNMA	6.000	12/01/37		1,004,063
1,000,000		FNMA	6.000	01/25/38		1,015,312
3,000,000		FNMA	6.500	01/25/38		3,083,436
157,804		FNMA	8.250	12/30/49		4,063,453
15,924		Government National Mortgage Association
		(GNMA)	6.500	09/15/23		16,541
53,259		GNMA	7.500	11/15/23		56,804
6,194		GNMA	7.500	08/15/28		6,613
82,371		GNMA	6.500	12/15/28		85,493
148,562		GNMA	6.500	03/15/29		154,177
47,543		GNMA	8.500	10/20/30		51,485
16,480		GNMA	7.000	06/20/31		17,418
321,856		GNMA	5.000	02/15/33		317,245
2,152,545		GNMA	5.000	09/15/33		2,121,709
456,528		GNMA	5.500	11/20/33		457,671
1,931,913		GNMA	5.500	02/20/35		1,936,365
673,261		GNMA	5.500	03/20/35		674,812
		TOTAL MORTGAGE BACKED SECURITIES				193,638,054
U.S. TREASURY SECURITIES - 5.24%
1,999,000		United States Treasury Bond	3.625	12/31/12		2,013,993
624,000		United States Treasury Bond	4.750	08/15/17		659,051
8,198,000		United States Treasury Bond	8.000	11/15/21		11,219,734
6,600,000		United States Treasury Bond	5.250	02/15/29		7,260,515
507,000		United States Treasury Bond	4.500	02/15/36		509,575
1,695,000		United States Treasury Bond	4.750	02/15/37		1,773,923
636,955		United States Treasury Inflation Indexed Bonds	3.875	01/15/09		655,765
2,701,885		United States Treasury Inflation Indexed Bonds	0.875	04/15/10		2,692,810
250,000		United States Treasury Note	3.375	11/30/12		249,160
1,550,000		United States Treasury Note	4.250	11/15/17		1,577,004
2,000,000	j	United States Treasury Strip Principal		08/15/27		808,418
		TOTAL U.S. TREASURY SECURITIES				29,419,948

415

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
		TOTAL GOVERNMENT BONDS				$	262,257,896
		(Cost $258,567,940)
		TOTAL BONDS					411,777,191
		(Cost $408,837,848)
STRUCTURED ASSETS - 24.40%
ASSET BACKED - 15.71%
$        500,000		AmeriCredit Automobile Receivables Trust Series
		2007-BF (Class A3A)	5.160%	04/06/12	Aaa		503,768
186,349	i	AQ Finance NIM Trust Series 2004-RN2	5.065	04/25/09	Aaa		183,689
74,669	i,m,v	AQ Finance NIM Trust Series 2004-RN3	5.045	05/25/09	Aaa		74,507
2,000,000		Capital One Auto Finance Trust Series 2007-B
		(Class A3A)	5.030	04/15/12	Aaa		2,012,296
2,108,319		Centex Home Equity Series 2002-A (Class AF6)	5.540	01/25/32	Aaa		2,101,939
705,000	i	Centex Home Equity Series 2004-C (Class AF5)	5.980	06/25/34	Aaa		703,961
2,548,636	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2002-2 (Class 1A5)	5.833	04/25/32	Aaa		2,542,013
851,128	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1B)	5.700	02/25/35	Baa2		496,882
851,128	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1M1)	5.700	02/25/35	Aa2		832,445
940,258		CIT Equipment Collateral Series 2005-VT1
		(Class A4)	4.360	11/20/12	Aaa		937,589
488,803	i	CIT Group Home Equity Loan Trust Series 2002-2
		(Class BF)	6.830	06/25/33	Ba1		227,295
715,719	i	CIT Group Home Equity Loan Trust Series 2002-2
		(Class MF2)	6.390	12/25/30	A3		569,699
3,000,000	i	Citicorp Mortgage Securities, Inc Series 2006-1
		(Class A3)	5.706	07/25/36	Aaa		2,947,156
1,700,000		Citicorp Mortgage Securities, Inc Series 2006-2
		(Class A3)	5.563	09/25/36	Aaa		1,661,387
500,000		Countrywide Alternative Loan Trust Series 2004-
		29CB (Class A7)	5.375	01/25/35	NR		480,070
732,243		Countrywide Alternative Loan Trust Series 2004-
		30CB (Class 1A15)	5.500	08/25/16	Aaa		718,682
1,800,000		Countrywide Alternative Loan Trust Series 2005-
		42CB (Class A12)	5.500	10/25/35	Aa1		1,584,954
2,500,000	i	Countrywide Asset-Backed Certificates Series 2007-
		S2 (Class A3)	5.813	05/25/37	Aaa		2,307,947
170,153	i	Countrywide Home Equity Loan Trust Series 2004-
		B (Class 1A)	5.248	02/15/29	Aaa		165,783
241,792	i	Credit-Based Asset Servicing and Securitization
		LLC Series 2007-MX1 (Class A1)	5.763	12/25/36	Aaa		241,195
1,100,000	i	Credit-Based Asset Servicing and Securitization
		LLC Series 2007-MX1 (Class A2)	5.825	12/25/36	Aaa		1,000,032
94,408		Detroit Edison Securitization Funding LLC Series
		2001-1 (Class A3)	5.875	03/01/10	Aaa		94,576
3,000,000	i	Flagstar Home Equity Loan Trust Series 2007-1A
		(Class AF3)	5.781	01/25/35	Aaa		2,781,050
2,650,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A3	5.590	10/25/29	Aaa		2,471,852

416

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        2,650,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A4	5.810%	10/25/29	Aaa	$	2,258,579
427,038	i	Golden Securities Corp Series 2003-A (Class A1)	5.525	12/02/13	Aaa		426,411
4,500,000		Hertz Vehicle Financing LLC Series 2005-1A
		(Class A3)	5.010	02/25/11	Aaa		4,534,587
400,000		Hertz Vehicle Financing LLC Series 2005-1A
		(Class A5)	5.080	11/25/11	Aaa		402,789
596,637		HFC Home Equity Loan Asset Backed Certificates
		Series 2006-4 (Class A1F)	5.790	03/20/36	Aaa		593,576
1,423,522	i	HFC Home Equity Loan Asset Backed Certificates
		Series 2007-1 (Class A1F)	5.910	03/20/36	Aaa		1,417,686
4,000,000		Honda Auto Receivables Owner Trust Series 2007-
		1 (Class A4)	5.090	07/18/13	NR		4,042,456
884,635		Household Automotive Trust Series 2006-2 (Class
		A3)	5.610	08/17/11	Aaa		890,605
3,000,000		Household Automotive Trust Series 2006-3 (Class
		A4)	5.340	09/17/13	Aaa		3,045,891
1,436,447	i	IXIS Real Estate Capital Trust Series 2006-HE1
		(Class A2)	5.005	03/25/36	Aaa		1,424,223
2,250,000		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A3)	5.190	02/15/11	Aaa		2,266,487
1,416,470		Marriott Vacation Club Owner Trust Series 2006-
		1A (Class A)	5.737	04/20/28	Aaa		1,435,304
1,320,555		Marriott Vacation Club Owner Trust Series 2006-
		2A (Class A)	5.362	10/20/28	Aaa		1,345,268
388,485		Marriott Vacation Club Owner Trust Series 2007-
		1A (Class A)	5.518	05/20/29	Aaa		387,645
372,698	m,v	New York City Tax Lien Series 2006-AA (Class A)	5.930	11/10/19	Aaa		372,233
200,000		Nissan Auto Lease Trust Series 2006-A
		(Class A4)	5.100	07/16/12	Aaa		201,858
641,273		Peco Energy Transition Trust Series 1999-A (Class
		A7)	6.130	03/01/09	Aaa		645,075
206,601		Public Service New Hampshire Funding LLC
		Series 2001-1 (Class A2)	5.730	11/01/10	Aaa		207,372
1,000,000	i	Renaissance Home Equity Loan Trust Series 2006-3
		(Class AF3)	5.586	11/25/36	Aaa		978,200
943,143	i	Residential Asset Mortgage Products, Inc Series
		2003-RZ5 (Class A7)	4.970	09/25/33	Aaa		921,452
5,000,000	i	Residential Asset Mortgage Products, Inc Series
		2004-RS11 (Class M1)	5.485	11/25/34	Aa1		4,837,048
527,043	i	Residential Asset Securities Corp Series 2001-KS2
		(Class AI6)	6.489	10/25/30	Aaa		525,178
7,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-H12 (Class A3)	5.790	02/25/36	Aaa		6,242,247
500,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M1)	6.010	02/25/36	Aa1		258,366
1,500,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M2)	6.060	02/25/36	Aa2		649,956
1,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A3)	5.960	02/25/36	Aaa		903,680
3,528,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI4 (Class A3)	5.440	09/25/36	Aaa		3,402,199

417

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        250,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI5 (Class A2)	5.520%	04/25/21	Aaa	$	236,974
3,000,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HSA2 (Class AI3)	5.550	03/25/36	Aaa		2,604,822
1,000,000	i	Saxon Asset Securities Trust Series 2002-2 (Class
		AF6)	6.120	11/25/30	Aaa		990,266
1,899,866	m	Sierra Receivables Funding Co Series 2006-1A
		(Class A1)	5.840	05/20/18	Aaa		1,954,562
5,900,000	m,v	Sonic Capital LLC Series 2006-1A (Class A2)	5.096	12/20/31	Aaa		5,667,458
2,111,270	m,v	Wachovia Amortization Controlled Heloc NIM
		Series 2006-N1 (Class N1)	5.683	08/12/47	A3		2,077,992
2,000,000		Wachovia Auto Loan Owner Trust Series 2006-2A
		(Class A3)	5.230	08/22/11	Aaa		2,003,332
371,196	i	Wachovia Loan Trust Series 2005-SD1 (Class A)	5.225	05/25/35	NR		361,692
		TOTAL ASSET BACKED					88,154,236
OTHER MORTGAGE BACKED SECURITIES - 8.69%
1,000,000	i	Banc of America Commercial Mortgage, Inc Series
		2005-1 (Class B)	4.990	11/10/42	NR		959,049
3,000,000		Banc of America Commercial Mortgage, Inc Series
		2002-2 (Class A3)	5.118	07/11/43	NR		3,035,071
80,000		Banc of America Commercial Mortgage, Inc Series
		2006-4 (Class A4)	5.634	07/10/46	Aaa		81,687
225,000	i	Banc of America Commercial Mortgage, Inc Series
		2005-6 (Class AJ)	5.181	09/10/47	Aaa		211,443
350,000		Banc of America Commercial Mortgage, Inc Series
		2007-2 (Class A2)	5.634	04/10/49	NR		354,962
811,312		Banc of America Mortgage Securities, Inc Series
		2006-1 (Class A8)	6.000	05/25/36	Aaa		815,841
195,105		Bank of America Alternative Loan Trust Series
		2004-8 (Class 3A1)	5.500	09/25/19	Aaa		192,007
1,450,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-T22 (Class A4)	5.465	04/12/38	Aaa		1,479,981
700,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-PW14 (Class A4)	5.201	12/11/38	NR		692,978
500,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-PW11 (Class A4)	5.457	03/11/39	NR		507,453
700,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2005-PW10 (Class AJ)	5.459	12/11/40	Aaa		669,399
1,175,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-PW13 (Class A4)	5.540	09/11/41	NR		1,192,931
600,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-T24 (Class A4)	5.537	10/12/41	Aaa		609,301
1,300,000		Citicorp Mortgage Securities, Inc Series 2005-4
		(Class 1A7)	5.500	07/25/35	Aa1		1,204,697
1,100,000		Citigroup/Deutsche Bank Commercial Mortgage
		Trust Series 2006-CD3 (Class A5)	5.617	10/15/48	Aaa		1,121,407
1,556,637		Citimortgage Alternative Loan Trust Series 2006-
		A1 (Class 2A1)	5.250	03/25/21	Aaa		1,570,745
739,277		Countrywide Home Loan Mortgage Pass Through
		Trust Series 2005-17 (Class 1A10)	5.250	09/25/35	NR		740,283
750,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C4 (Class A3)	5.467	09/15/39	Aaa		755,860

418

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        1,250,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C5 (Class A3)	5.311%	12/15/39	Aaa	$	1,245,653
1,980,521	i	Credit Suisse/Morgan Stanley Commercial
		Mortgage Certificate Series HC1A (Class A1)	5.218	05/15/23	Aaa		1,951,096
1,000,000		GE Capital Commercial Mortgage Corp Series
		2003-C2 (Class A4)	5.145	07/10/37	Aaa		1,009,192
500,000	i	GE Capital Commercial Mortgage Corp Series
		2005-C3 (Class A5)	4.979	07/10/45	NR		493,966
1,000,000	i	Greenwich Capital Commercial Funding Corp
		Series 2007-GG11 (Class A2)	5.597	12/10/49	NR		1,010,153
500,000		GS Mortgage Securities Corp II Series 2006-GG8
		(Class A4)	5.560	11/10/39	Aaa		507,797
750,000	i	GS Mortgage Securities Corp II Series 2007-GG10
		(Class A2)	5.778	08/10/45	Aaa		764,411
790,975	i	GSAA Trust Series 2004-3 (Class AF3)	5.691	04/25/34	Aaa		792,900
1,000,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2003-CB6 (Class A2)	5.255	07/12/37	Aaa		1,014,606
750,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2006-LDP7 (Class A2)	5.861	04/15/45	Aaa		767,800
1,100,000		JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-CB18 (Class A4)	5.440	06/12/47	Aaa		1,104,357
1,000,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-LD11 (Class AJ)	5.819	06/15/49	Aaa		965,551
700,000		LB-UBS Commercial Mortgage Trust Series 2005-
		C3 (Class A2)	4.553	07/15/30	Aaa		693,537
100,000	i	LB-UBS Commercial Mortgage Trust Series 2006-
		C4 (Class A4)	5.883	06/15/38	Aaa		104,358
1,000,000	i	LB-UBS Commercial Mortgage Trust Series 2005-
		C5 (Class AJ)	5.057	09/15/40	NR		925,074
211,775		MASTR Asset Securitization Trust Series 2005-2
		(Class 3A1)	5.000	10/25/20	Aaa		210,916
1,000,000	i	Merrill Lynch Mortgage Trust Series 2003-KEY1
		(Class A4)	5.236	11/12/35	NR		1,013,246
275,000	i	Merrill Lynch Mortgage Trust Series 2006-C1
		(Class A4)	5.659	05/12/39	NR		283,145
1,000,000	i	Merrill Lynch Mortgage Trust Series 2004-BPC1
		(Class AJ)	4.922	10/12/41	A		940,064
425,000	i	Merrill Lynch Mortgage Trust Series 2005-LC1
		(Class A4)	5.291	01/12/44	Aaa		423,783
250,000	i	Merrill Lynch/Countrywide Commercial Mortgage
		Trust Series 2006-1 (Class A4)	5.428	02/12/39	NR		253,436
771,654	i	Morgan Stanley Capital I Series 2006-HE1 (Class
		A2)	4.985	01/25/36	Aaa		759,982
1,200,000		Morgan Stanley Capital I Series 2005-HQ5 (Class
		A2)	4.809	01/14/42	NR		1,195,883
250,000	i	Morgan Stanley Capital I Series 2006-IQ11 (Class
		AJ)	5.777	10/15/42	NR		241,864
1,100,000		Morgan Stanley Capital I Series 2006-IQ12 (Class
		A2)	5.283	12/15/43	NR		1,102,278
500,000		Morgan Stanley Capital I Series 2007-HQ11 (Class
		A31)	5.439	02/12/44	Aaa		498,850
550,000	i	Morgan Stanley Capital I Series 2006-HQ8 (Class
		AJ)	5.468	03/12/44	Aaa		527,535

419

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        100,000	i	Morgan Stanley Capital I Series 2006-HQ9 (Class
		A4)	5.731%	07/12/44	NR	$	102,762
940,000		Residential Accredit Loans, Inc Series 2005-QS6
		(Class A7)	5.750	05/25/35	Aa1		854,538
400,000		Residential Accredit Loans, Inc Series 2005-QS17
		(Class A1)	6.000	12/25/35	Aaa		384,094
1,000,000	i	Wachovia Bank Commercial Mortgage Trust Series
		2005-C20 (Class A7)	5.118	07/15/42	Aaa		982,759
100,000		Wachovia Bank Commercial Mortgage Trust Series
		2007-C30 (Class AM)	5.383	12/15/43	Aaa		97,522
750,000		Wachovia Bank Commercial Mortgage Trust Series
		2007-C31 (Class A2)	5.421	04/15/47	Aaa		753,330
4,170,783		Washington Mutual, Inc Series 2003-S10 (Class
		A1)	4.500	10/25/18	NR		4,075,082
2,581,954		Wells Fargo Mortgage Backed Securities Trust
		Series 2004-7 (Class 1A1)	4.500	07/25/19	NR		2,522,247
2,010,932		Wells Fargo Mortgage Backed Securities Trust
		Series 2005-1 (Class 2A1)	5.000	01/25/20	Aaa		1,993,826
		TOTAL OTHER MORTGAGE BACKED SECURITIES					48,762,688
		TOTAL STRUCTURED ASSETS					136,916,924
		(Cost $141,577,184)
SHARES		COMPANY
PREFERRED STOCKS - 0.05%
DEPOSITORY INSTITUTIONS - 0.05%
14,000		Bank of America Corp	6.204	12/30/49	Aa3		303,800
		TOTAL DEPOSITORY INSTITUTIONS					303,800
		TOTAL PREFERRED STOCKS					303,800
		(Cost $350,000)
TIAA-CREF MUTUAL FUNDS - 0.71%
410,941		TIAA-CREF Institutional High Yield Fund II					3,986,134
		TOTAL TIAA-CREF MUTUAL FUNDS					3,986,134
		(Cost $4,202,219)
SHORT-TERM INVESTMENTS - 1.95%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.51%
$        8,440,000		Federal Home Loan Bank (FHLB)		01/02/08			8,440,000
							8,440,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.44%
2,467,427		State Street Navigator Securities Lending Prime Portfolio					2,467,427
							2,467,427
		TOTAL SHORT-TERM INVESTMENTS					10,907,427
		(Cost $10,906,665)

420

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				VALUE
		TOTAL PORTFOLIO - 100.52%	$	563,891,476
		(Cost $565,873,916)
		OTHER ASSETS & LIABILITIES, NET - (0.52)%		(2,927,088	)
		NET ASSETS - 100.00%	$	560,964,388
		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 December 31, 2007, the value of these securities amounted to $21,742,789 or 3.88% of net assets.
	h	These securities were purchased on a delayed delivery basis.
	i	Floating rate or variable rate securities reflects the rate at December 31, 2007.
	j	Zero coupon
	v	Security valued at fair value.
		At December 31, 2007, the unrealized depreciation on investments was $1,982,458, consisting of
		gross unrealized appreciation of $7,509,446 and gross unrealized depreciation of $9,491,904.

421

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SHORT-TERM BOND FUND II
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
BONDS - 84.36%
CORPORATE BONDS - 26.58%
AMUSEMENT AND RECREATION SERVICES - 0.49%
$        350,000		Walt Disney Co	5.700%	07/15/11	A2	$	364,829
1,000,000		Walt Disney Co	4.700	12/01/12	A2		999,967
		TOTAL AMUSEMENT AND RECREATION SERVICES					1,364,796
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.18%
500,000		Home Depot, Inc	3.750	09/15/09	Baa1		490,909
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					490,909
BUSINESS SERVICES - 0.22%
500,000		Daimler Finance North America LLC	5.875	03/15/11	A3		507,349
100,000		Daimler Finance North America LLC	5.750	09/08/11	A3		101,485
		TOTAL BUSINESS SERVICES					608,834
CHEMICALS AND ALLIED PRODUCTS - 1.31%
100,000		Abbott Laboratories	5.600	05/15/11	A1		103,564
2,000,000		Clorox Co	5.450	10/15/12	Baa1		2,016,520
1,250,000		Eli Lilly & Co	2.900	03/15/08	Aa3		1,245,903
300,000		Lubrizol Corp	4.625	10/01/09	Baa3		301,276
		TOTAL CHEMICALS AND ALLIED PRODUCTS					3,667,263
COMMUNICATIONS - 1.21%
1,500,000		Alamosa Delaware, Inc	8.500	01/31/12	Baa3		1,529,650
250,000		Allbritton Communications Co	7.750	12/15/12	B1		247,500
500,000		Qwest Communications International, Inc	7.250	02/15/11	Ba3		500,000
295,000		Rogers Wireless, Inc	8.000	12/15/12	Ba1		307,776
600,000		Time Warner Cable, Inc	5.400	07/02/12	Baa2		601,206
200,000		Viacom, Inc	5.750	04/30/11	Baa3		202,516
		TOTAL COMMUNICATIONS					3,388,648
DEPOSITORY INSTITUTIONS - 6.62%
700,000	g	BA Covered Bond Issuer	5.500	06/14/12	Aaa		738,269
1,500,000		Banco Nacional de Comercio Exterior SNC	3.875	01/21/09	A1		1,458,750
350,000		Bank of America Corp	4.875	09/15/12	Aa1		350,858
600,000		Citigroup, Inc	5.100	09/29/11	Aa3		603,341
4,000,000		Citigroup, Inc	5.250	02/27/12	Aa3		4,030,860
275,000		Deutsche Bank AG.	5.375	10/12/12	Aa1		281,781
165,000		FIA Card Services NA	5.375	01/15/08	Aaa		165,027
500,000		FIA Card Services NA	7.125	11/15/12	Baa2		543,226
1,250,000		JPMorgan Chase & Co	3.500	03/15/09	Aa2		1,229,694
750,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3		747,035
1,000,000	g	Nationwide Building Society	5.500	07/18/12	Aaa		1,038,644
250,000		Popular North America, Inc	3.875	10/01/08	A3		247,606
250,000		Popular North America, Inc	5.650	04/15/09	A3		252,447

422

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        625,000		US Bank NA	5.700%	12/15/08	Aa2	$	632,816
125,000	g	VTB Capital S.A.	6.609	10/31/12	A2		122,688
625,000		Wachovia Corp	5.300	10/15/11	Aa3		626,389
500,000		Washington Mutual, Inc	5.500	08/24/11	Baa2		445,983
2,900,000		Wells Fargo & Co	4.875	01/12/11	Aa1		2,938,988
1,000,000		Wells Fargo Bank NA	6.450	02/01/11	Aa1		1,057,952
1,000,000		Western Financial Bank	9.625	05/15/12	Aa2		1,075,543
		TOTAL DEPOSITORY INSTITUTIONS					18,587,897
EATING AND DRINKING PLACES - 0.22%
625,000		McDonald's Corp	5.950	01/15/08	A3		625,213
		TOTAL EATING AND DRINKING PLACES					625,213
ELECTRIC, GAS, AND SANITARY SERVICES - 2.21%
625,000		Atmos Energy Corp	4.000	10/15/09	Baa3		615,847
300,000		Commonwealth Edison Co	3.700	02/01/08	Baa2		299,619
275,000		Consumers Energy Co	4.400	08/15/09	Baa1		272,606
2,475,000		Duke Energy Carolinas LLC	3.750	03/05/08	A2		2,468,221
1,250,000		Ohio Power Co	5.300	11/01/10	A3		1,276,900
625,000		ONEOK Partners LP	5.900	04/01/12	Baa2		642,624
600,000		Texas Eastern Transmission LP	7.300	12/01/10	A3		643,178
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					6,218,995
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.11%
300,000		Hewlett-Packard Co	3.625	03/15/08	A2		299,302
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					299,302
FABRICATED METAL PRODUCTS - 0.36%
1,000,000		Stanley Works	5.000	03/15/10	A2		1,016,267
		TOTAL FABRICATED METAL PRODUCTS					1,016,267
FOOD AND KINDRED PRODUCTS - 0.89%
200,000		Bottling Group LLC	4.625	11/15/12	Aa2		200,637
625,000	g	Cadbury Schweppes US Finance LLC	3.875	10/01/08	Baa2		621,214
625,000		Diageo Capital plc	5.125	01/30/12	A3		625,677
440,000		Diageo Finance BV	3.875	04/01/11	A3		426,032
625,000		Kraft Foods, Inc	4.000	10/01/08	Baa2		619,983
		TOTAL FOOD AND KINDRED PRODUCTS					2,493,543
FOOD STORES - 0.44%
625,000		Fred Meyer, Inc	7.450	03/01/08	Baa2		627,189
625,000		Safeway, Inc	4.125	11/01/08	Baa2		618,279
		TOTAL FOOD STORES					1,245,468
GENERAL BUILDING CONTRACTORS - 0.17%
500,000		DR Horton, Inc	9.750	09/15/10	Ba2		489,609
		TOTAL GENERAL BUILDING CONTRACTORS					489,609
GENERAL MERCHANDISE STORES - 0.22%
625,000	e	Target Corp	3.375	03/01/08	A2		623,357
		TOTAL GENERAL MERCHANDISE STORES					623,357

423

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
HOLDING AND OTHER INVESTMENT OFFICES - 0.22%
$        625,000		Simon Property Group LP	5.600%	09/01/11	A3	$	627,041
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					627,041
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.89%
1,250,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		1,235,392
250,000		Hewlett-Packard Co	5.250	03/01/12	A2		256,071
1,000,000		IBM International Group Capital LLC	5.050	10/22/12	A1		1,018,685
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					2,510,148
INSTRUMENTS AND RELATED PRODUCTS - 0.09%
250,000		Xerox Corp	7.625	06/15/13	Baa2		260,885
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					260,885
INSURANCE CARRIERS - 0.46%
250,000	g	Mantis Reef Ltd	4.799	11/03/09	A3		253,576
1,000,000		Prudential Financial, Inc	5.800	06/15/12	A3		1,024,814
		TOTAL INSURANCE CARRIERS					1,278,390
MISCELLANEOUS RETAIL - 0.36%
1,000,000		CVS Caremark Corp	5.750	08/15/11	Baa2		1,024,338
		TOTAL MISCELLANEOUS RETAIL					1,024,338
NONDEPOSITORY INSTITUTIONS - 4.66%
271,327	i	Aames Mortgage Trust Series 2002-1 (Class A3)	6.896	06/25/32	Aaa		272,099
250,000		American Express Centurion Bank	5.550	10/17/12	Aa3		254,390
300,000		American General Finance Corp	2.750	06/15/08	A1		296,648
1,250,000	g	American Honda Finance Corp	5.125	12/15/10	Aa3		1,284,681
600,000		Boeing Capital Corp Ltd	6.100	03/01/11	A3		628,898
100,000		Capital One Financial Corp	5.700	09/15/11	A3		96,606
488,803	i	CIT Group Home Equity Loan Trust Series 2002-2
		(Class BF)	6.830	06/25/33	Ba1		227,295
767,247	i	Countrywide Asset-Backed Certificates Series 2006-
		S3 (Class A1)	4.975	06/25/21	Aaa		730,183
1,000,000	i	Countrywide Financial Corp	5.315	05/07/12	Baa3		749,453
150,000		Countrywide Home Loans, Inc	3.250	05/21/08	Baa3		135,550
500,000		Ford Motor Credit Co	5.700	01/15/10	B1		450,489
300,000		Ford Motor Credit Co	9.875	08/10/11	B1		283,748
		GE Capital Commercial Mortgage Corp Series 2005-
300,000	i	C3 (Class A5)	4.979	07/10/45	NR		296,380
500,000		General Motors Acceptance Corp LLC	6.625	05/15/12	Ba3		415,659
500,000	i	GS Mortgage Securities Corp II Series 2007-GG10
		(Class A2)	5.778	08/10/45	Aaa		509,608
1,250,000		HSBC Finance Corp	5.250	01/14/11	Aa3		1,249,578
2,000,000		HSBC Finance Corp	5.900	06/19/12	Aa3		2,031,694
500,000		International Lease Finance Corp	5.450	03/24/11	A1		503,873
350,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2006-LDP7 (Class A2)	5.861	04/15/45	Aaa		358,307
660,000		Morgan Stanley Capital I Series 2006-IQ12 (Class	5.283	12/15/43			661,367
		A2)			NR
625,000		Residential Capital LLC	7.625	11/21/08	Ba3		496,875
500,000		Residential Capital LLC	8.000	06/01/12	Ba3		307,500
500,000		Toyota Motor Credit Corp	2.875	08/01/08	Aaa		493,408

424

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        350,000		Wachovia Bank Commercial Mortgage Trust Series
		2007-C31 (Class A2)	5.421%	04/15/47	Aaa	$	351,554
		TOTAL NONDEPOSITORY INSTITUTIONS					13,085,843
OIL AND GAS EXTRACTION - 1.05%
625,000		Anadarko Petroleum Corp	3.250	05/01/08	Baa3		620,835
250,000		BJ Services Co	5.750	06/01/11	Baa1		256,320
2,000,000	g	Weatherford International, Inc	5.950	06/15/12	Baa1		2,076,474
		TOTAL OIL AND GAS EXTRACTION					2,953,629
PIPELINES, EXCEPT NATURAL GAS - 0.93%
750,000		Enbridge Energy Partners LP	4.000	01/15/09	Baa2		745,400
625,000		Enterprise Products Operating LP	4.950	06/01/10	Baa3		625,416
625,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		622,117
625,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		627,981
		TOTAL PIPELINES, EXCEPT NATURAL GAS					2,620,914
PRINTING AND PUBLISHING - 0.35%
1,000,000		Thomson Corp	5.250	08/15/13	Baa1		982,143
		TOTAL PRINTING AND PUBLISHING					982,143
REAL ESTATE - 0.47%
1,500,000	i,g	USB Realty Corp	6.091	12/30/49	A1		1,332,656
		TOTAL REAL ESTATE					1,332,656
SECURITY AND COMMODITY BROKERS - 1.71%
500,000		Franklin Resources, Inc	3.700	04/15/08	A1		498,814
500,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		445,163
650,000		Goldman Sachs Group, Inc	5.300	02/14/12	Aa3		657,403
500,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3		445,625
600,000		Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		593,693
1,250,000		Merrill Lynch & Co, Inc	4.125	09/10/09	A1		1,229,953
925,000		Morgan Stanley	3.625	04/01/08	Aa3		921,084
		TOTAL SECURITY AND COMMODITY BROKERS					4,791,735
TRANSPORTATION BY AIR - 0.11%
300,000		FedEx Corp	3.500	04/01/09	Baa2		295,153
		TOTAL TRANSPORTATION BY AIR					295,153
TRANSPORTATION EQUIPMENT - 0.63%
1,250,000		General Dynamics Corp	3.000	05/15/08	A2		1,242,753
350,000		Wachovia Bank Commercial Mortgage Trust Series
		2007-C31 (Class A2)	5.421	04/15/47	Aaa		351,554
		TOTAL NONDEPOSITORY INSTITUTIONS					13,085,843
OIL AND GAS EXTRACTION - 1.05%
625,000		Anadarko Petroleum Corp	3.250	05/01/08	Baa3		620,835
250,000		BJ Services Co	5.750	06/01/11	Baa1		256,320
2,000,000	g	Weatherford International, Inc	5.950	06/15/12	Baa1		2,076,474
		TOTAL OIL AND GAS EXTRACTION					2,953,629
PIPELINES, EXCEPT NATURAL GAS - 0.93%
750,000		Enbridge Energy Partners LP	4.000	01/15/09	Baa2		745,400

425

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      625,000		Enterprise Products Operating LP	4.950%	06/01/10	Baa3	$	625,416
625,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		622,117
625,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		627,981
		TOTAL PIPELINES, EXCEPT NATURAL GAS					2,620,914
PRINTING AND PUBLISHING - 0.35%
1,000,000		Thomson Corp	5.250	08/15/13	Baa1		982,143
		TOTAL PRINTING AND PUBLISHING					982,143
REAL ESTATE - 0.47%
1,500,000	i,g	USB Realty Corp	6.091	12/30/49	A1		1,332,656
		TOTAL REAL ESTATE					1,332,656
SECURITY AND COMMODITY BROKERS - 1.71%
500,000		Franklin Resources, Inc	3.700	04/15/08	A1		498,814
500,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		445,163
650,000		Goldman Sachs Group, Inc	5.300	02/14/12	Aa3		657,403
500,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3		445,625
600,000		Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		593,693
1,250,000		Merrill Lynch & Co, Inc	4.125	09/10/09	A1		1,229,953
925,000		Morgan Stanley	3.625	04/01/08	Aa3		921,084
		TOTAL SECURITY AND COMMODITY BROKERS					4,791,735
TRANSPORTATION BY AIR - 0.11%
300,000		FedEx Corp	3.500	04/01/09	Baa2		295,153
		TOTAL TRANSPORTATION BY AIR					295,153
TRANSPORTATION EQUIPMENT - 0.63%
1,250,000		General Dynamics Corp	3.000	05/15/08	A2		1,242,753
500,000		Honeywell International, Inc	5.625	08/01/12	A2		517,780
		TOTAL TRANSPORTATION EQUIPMENT					1,760,533
		TOTAL CORPORATE BONDS					74,643,509
		(Cost $75,446,307)
GOVERNMENT BONDS - 57.78%
AGENCY SECURITIES - 26.47%
750,000		Federal Farm Credit Bank (FFCB)	3.375	07/15/08	Aaa		745,994
750,000		FFCB	4.125	04/15/09	Aaa		753,065
2,000,000		Federal Home Loan Bank (FHLB)	5.000	10/16/09	Aaa		2,012,170
3,000,000		FHLB	5.375	08/19/11	Aaa		3,165,432
500,000		Federal Home Loan Mortgage Corp (FHLMC)	3.750	02/27/09	Aaa		499,192
4,700,000		FHLMC	4.750	11/03/09	Aaa		4,796,759
6,500,000		FHLMC	4.875	02/09/10	Aaa		6,670,001
2,700,000		FHLMC	7.000	03/15/10	Aaa		2,893,703
663,443		FHLMC	5.125	10/15/15	Aaa		666,247
16,000,000		Federal National Mortgage Association (FNMA)	6.000	05/15/08	Aaa		16,081,040
3,000,000		FNMA	5.375	08/15/09	Aaa		3,082,668
3,650,000		FNMA	5.100	09/10/09	Aaa		3,672,568
3,000,000		FNMA	4.625	12/15/09	Aaa		3,059,418
12,900,000		FNMA	7.125	06/15/10	Aaa		13,956,317
3,500,000		FNMA	6.250	02/01/11	Aa2		3,748,794

426

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	$	201,731
1,000,000		Private Export Funding Corp	7.200	01/15/10	Aaa		1,070,167
7,000,000		Private Export Funding Corp	4.900	12/15/11	Aaa		7,268,261
		TOTAL AGENCY SECURITIES					74,343,527
FOREIGN GOVERNMENT BONDS - 3.13%
250,000		Canada Mortgage & Housing Corp	4.800	10/01/10	Aaa		256,123
1,100,000		Eksportfinans A/S	5.000	02/14/12	Aaa		1,135,420
1,400,000	g	Emirate of Abu Dhabi	5.500	08/02/12	Aa2		1,439,847
1,000,000	g	Federal Republic of Germany	3.875	06/01/10	Aaa		1,003,535
1,500,000		International Finance Corp	5.125	05/02/11	Aaa		1,573,134
1,550,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		1,582,479
250,000		Landwirtschaftliche Rentenbank	5.250	07/02/12	Aaa		263,801
1,000,000		Province of Manitoba Canada	4.450	04/12/10	Aa1		1,011,384
500,000		Province of Manitoba Canada	5.000	02/15/12	Aa1		518,791
		TOTAL FOREIGN GOVERNMENT BONDS					8,784,514
MORTGAGE BACKED SECURITIES - 1.17%
662,007		Federal Home Loan Mortgage Corp (FHLMC)	6.000	09/15/16			680,311
169,691		FHLMC	6.000	12/15/30			171,674
120,190		Federal Home Loan Mortgage Corp Gold (FGLMC)	6.000	12/01/17			123,090
547,186		FGLMC	5.500	01/01/19			554,747
472,983		FGLMC	5.500	01/01/19			479,518
634,052		Federal National Mortgage Association (FNMA)	6.283	12/01/08			638,665
93,827		FNMA	5.000	06/01/13			95,090
485,450		FNMA	5.000	02/25/35			487,850
55,623	i	Government National Mortgage Association
		(GNMA)	6.221	06/16/21			55,855
		TOTAL MORTGAGE BACKED SECURITIES					3,286,800
U.S. TREASURY SECURITIES - 27.01%
12,627,175		United States Treasury Inflation Indexed Bonds	0.875	04/15/10			12,584,761
3,088,710		United States Treasury Inflation Indexed Bonds	2.000	04/15/12			3,201,158
1,000,000		United States Treasury Note	5.125	06/30/08			1,008,281
4,000,000		United States Treasury Note	3.875	05/15/09			4,041,876
2,000,000		United States Treasury Note	4.000	08/31/09			2,029,376
8,068,000		United States Treasury Note	3.625	10/31/09			8,147,421
2,500,000		United States Treasury Note	4.500	11/30/11			2,608,985
21,211,000		United States Treasury Note	4.625	12/31/11			22,248,345
3,393,000		United States Treasury Note	4.250	09/30/12			3,512,020
10,300,000		United States Treasury Note	3.875	10/31/12			10,501,973
5,000,000		United States Treasury Note	3.375	11/30/12			4,983,205
996,000		United States Treasury Note	0.000	12/31/12			1,003,470
		TOTAL U.S. TREASURY SECURITIES					75,870,871
		TOTAL GOVERNMENT BONDS					162,285,712
		(Cost $158,685,348)
		TOTAL BONDS					236,929,221
		(Cost $234,131,655)
STRUCTURED ASSETS - 12.49%
ASSET BACKED - 11.03%
1,000,000		AmeriCredit Automobile Receivables Trust Series
		2006-AF (Class A4)	5.640	09/06/13	Aaa		1,019,834

427

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        55,677		Asset Backed Funding Corp NIM Trust Series 2005-
		WMC1 (Class N1)	5.900%	07/26/35	NR	$	223
1,000,000		Capital One Auto Finance Trust Series 2007-A
		(Class A3A)	5.250	08/15/11	Aaa		1,006,643
281,109		Centex Home Equity Series 2002-A (Class AF6)	5.540	01/25/32	Aaa		280,258
1,500,000	i	Centex Home Equity Series 2004-D (Class MF2)	5.560	09/25/34	Aa3		1,259,268
425,564	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1B)	5.700	02/25/35	Baa2		248,441
425,564	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1M2)	5.700	02/25/35	A2		378,939
221,592		Chase Manhattan Auto Owner Trust Series 2004-A
		(Class A4)	2.830	09/15/10	Aaa		220,743
1,241,141		CIT Equipment Collateral Series 2005-VT1 (Class
		A4)	4.360	11/20/12	Aaa		1,237,617
715,719	i	CIT Group Home Equity Loan Trust Series 2002-2
		(Class MF2)	6.390	12/25/30	A3		569,699
5,500,000	i	Citicorp Mortgage Securities, Inc Series 2006-1
		(Class A3)	5.706	07/25/36	Aaa		5,403,119
2,000,000	i	Flagstar Home Equity Loan Trust Series 2007-1A
		(Class AF3)	5.781	01/25/35	Aaa		1,854,033
227,292	i	GMAC Mortgage Corporation Loan Trust 2005-
		HE2 A3	4.622	11/25/35	Aaa		224,935
2,000,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A3	5.590	10/25/29	Aaa		1,865,549
2,000,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A4	5.810	10/25/29	Aaa		1,704,588
250,000		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A3)	5.190	02/15/11	Aaa		251,832
1,983,059		Marriott Vacation Club Owner Trust Series 2006-1A
		(Class A)	5.737	04/20/28	Aaa		2,009,426
328,851	m,v	New York City Tax Lien Series 2006-AA (Class A)	5.930	11/10/19	Aaa		328,441
500,000	i	Renaissance Home Equity Loan Trust Series 2006-3
		(Class AF3)	5.586	11/25/36	Aaa		489,100
4,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-H12 (Class A3)	5.790	02/25/36	Aaa		3,566,998
2,000,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class A3)	5.570	02/25/36	Aaa		1,652,452
500,000	i	Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M2)	6.060	02/25/36	Aa2		216,652
2,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A2)	5.950	02/25/36	Aaa		1,946,113
1,300,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A3)	5.960	02/25/36	Aaa		1,174,784
1,000,000	i	Saxon Asset Securities Trust Series 2002-2 (Class
		AF6)	6.120	11/25/30	Aaa		990,266
1,055,481	m	Sierra Receivables Funding Co Series 2006-1A
		(Class A1)	5.840	05/20/18	Aaa		1,085,868
		TOTAL ASSET BACKED					30,985,821
OTHER MORTGAGE BACKED SECURITIES - 1.46%
523,972		Banc of America Mortgage Securities, Inc Series
		2006-1 (Class A8)	6.000	05/25/36	Aaa		526,897
388,609		First Horizon Asset Securities, Inc Series 2003-9
		(Class 1A4)	5.500	11/25/33			391,452

428

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        2,000,000		LB-UBS Commercial Mortgage Trust Series 2005-
		C3 (Class A2)	4.553%	07/15/30	Aaa	$	1,981,533
1,200,000		Morgan Stanley Capital I Series 2005-HQ5 (Class A2)	4.809	01/14/42	NR		1,195,883
		TOTAL OTHER MORTGAGE BACKED SECURITIES					4,095,765
		TOTAL STRUCTURED ASSETS					35,081,586
		(Cost $37,550,713)
SHARES		COMPANY
PREFERRED STOCKS - 0.90%
NONDEPOSITORY INSTITUTIONS - 0.90%
18,600		Federal Home Loan Mortgage Corp (FHLMC)	8.375	12/30/49			486,390
79,583		Federal National Mortgage Association (FNMA)	8.250	12/30/49			2,049,262
		TOTAL NONDEPOSITORY INSTITUTIONS					2,535,652
		TOTAL PREFERRED STOCKS					2,535,652
		(Cost $2,454,575)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 1.39%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.23%
$        3,450,000		Federal Home Loan Bank (FHLB)	0.000	01/02/08			3,450,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES					3,450,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.16%
457,675		State Street Navigator Securities Lending Prime Portfolio					457,675
							457,675
		TOTAL SHORT-TERM INVESTMENTS					3,907,675
		(Cost $3,907,364)
		TOTAL PORTFOLIO - 99.14%					278,454,134
		(Cost $278,044,307)
		OTHER ASSETS & LIABILITIES, NET - 0.86%					2,409,003
		NET ASSETS - 100.00%				$	280,863,137
		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 December 31, 2007, the value of these securities amounted to $9,911,584 or 3.53% of net assets.
	i	Floating rate or variable rate securities reflects the rate at December 31, 2007.
	v	Security valued at fair value.
		At December 31, 2007, the unrealized appreciation on investments was $409,827 consisting of
		gross unrealized appreciation of $4,625,779 and gross unrealized depreciation of $4,215,952.

429

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
HIGH-YIELD FUND II
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
CORPORATE BONDS - 92.29%
AMUSEMENT AND RECREATION SERVICES - 2.75%
$        2,100,000	g	Buffalo Thunder Development Authority	9.375%	12/15/14	B2	$	1,869,000
1,125,000		Mohegan Tribal Gaming Authority	6.125	02/15/13	Baa3		1,099,688
2,333,000	g	Pokagon Gaming Authority	10.375	06/15/14	B3		2,507,975
1,500,000	g	Seminole Indian Tribe of Florida	7.804	10/01/20	Ba1		1,547,520
2,750,000		Speedway Motorsports, Inc	6.750	06/01/13	Ba2		2,708,750
750,000		WMG Acquisition Corp	7.375	04/15/14	B2		577,500
		TOTAL AMUSEMENT AND RECREATION SERVICES					10,310,433
APPAREL AND OTHER TEXTILE PRODUCTS - 0.28%
1,348,000	e	Broder Brothers Co	11.250	10/15/10	Caa1		1,037,960
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS					1,037,960
AUTO REPAIR, SERVICES AND PARKING - 2.18%
1,680,000		Avis Budget Car Rental LLC	7.625	05/15/14	Ba3		1,604,400
1,640,000		Hertz Corp	8.875	01/01/14	B1		1,662,550
2,960,000	e	Hertz Corp	10.500	01/01/16	B2		3,063,600
2,509,000		Keystone Automotive Operations, Inc	9.750	11/01/13	Caa2		1,844,115
		TOTAL AUTO REPAIR, SERVICES AND PARKING					8,174,665
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 1.36%
2,155,000		Asbury Automotive Group, Inc	8.000	03/15/14	B3		2,036,475
1,500,000		Autonation, Inc	7.000	04/15/14	Ba2		1,421,250
1,690,000		Sonic Automotive, Inc	8.625	08/15/13	B1		1,643,525
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS					5,101,250
BUSINESS SERVICES - 3.37%
1,700,000		Activant Solutions, Inc	9.500	05/01/16	Caa1		1,470,500
1,513,000	i,m,v	Advanstar Communications, Inc	10.360	11/30/14	Caa2		1,391,960
1,069,000	g	Ceridian Corp	11.250	11/15/15	Caa2		991,498
990,000	g,o	Ceridian Corp	12.250	11/15/15	Caa2		923,175
1,275,000		Deluxe Corp	7.375	06/01/15	Ba2		1,268,625
3,250,000	e	Lamar Media Corp	7.250	01/01/13	Ba3		3,250,000
852,000		Lamar Media Corp	6.625	08/15/15	Ba3		828,570
625,000	g	Lamar Media Corp	6.625	08/15/15	Ba3		607,813
1,259,000	g	Open Solutions, Inc	9.750	02/01/15	Caa1		1,147,264
852,000		United Rentals North America, Inc	7.750	11/15/13	B3		741,240
		TOTAL BUSINESS SERVICES					12,620,645
CHEMICALS AND ALLIED PRODUCTS - 3.86%
1,880,000		Chemtura Corp	6.875	06/01/16	Ba2		1,767,200
1,250,000		Hercules, Inc	6.750	10/15/29	Ba3		1,203,125
1,375,000		Huntsman International LLC	7.875	11/15/14	B2		1,457,500
1,134,000	g	Ineos Group Holdings plc	8.500	02/15/16	B3		1,009,260

430

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        2,350,000	j	Koppers Holdings, Inc (Step Bond 0.000% until
		11/15/09, 9.875% until 11/15/14)		11/15/14	B3	$	1,974,000
1,272,000		Koppers, Inc	9.875%	10/15/13	B2		1,338,780
1,000,000	g	Momentive Performance Materials, Inc	9.750	12/01/14	B3		920,000
1,500,000	g	Mosaic Co	7.625	12/01/14	Ba1		1,605,000
1,250,000		Nalco Co	7.750	11/15/11	B1		1,265,625
1,933,000	g	Reichhold Industries, Inc	9.000	08/15/14	B2		1,923,335
		TOTAL CHEMICALS AND ALLIED PRODUCTS					14,463,825
COAL MINING - 3.24%
3,050,000		Arch Western Finance LLC	6.750	07/01/13	B1		2,958,500
1,750,000		Consol Energy, Inc	7.875	03/01/12	Ba1		1,846,250
750,000		Foundation PA Coal Co	7.250	08/01/14	Ba3		740,625
4,456,000	g	Griffin Coal Mining Co Pty Ltd	9.500	12/01/16	Ba2		3,965,840
2,625,000		Peabody Energy Corp	6.875	03/15/13	Ba1		2,638,125
		TOTAL COAL MINING					12,149,340
COMMUNICATIONS - 9.45%
4,402,000		Allbritton Communications Co	7.750	12/15/12	B1		4,357,980
1,250,000	g	Charter Communications Operating LLC	8.000	04/30/12	B2		1,206,250
250,000		Citizens Communications Co	9.250	05/15/11	Ba2		270,625
1,530,000		Citizens Communications Co	7.125	03/15/19	Ba2		1,453,500
2,826,000		Citizens Communications Co	9.000	08/15/31	Ba2		2,818,935
1,812,000		CSC Holdings, Inc	7.625	04/01/11	B2		1,807,470
1,700,000		Echostar DBS Corp	6.375	10/01/11	Ba3		1,679,600
2,650,000		Echostar DBS Corp	6.625	10/01/14	Ba3		2,636,750
2,398,000		Intelsat Bermuda Ltd	11.250	06/15/16	Caa1		2,475,935
1,690,000		Intelsat Corp	9.000	08/15/14	B2		1,698,450
1,260,000		Intelsat Subsidiary Holding Co Ltd	8.250	01/15/13	B2		1,266,300
2,340,000	i	iPCS, Inc	7.036	05/01/13	B1		2,205,450
165,000		Quebecor Media, Inc	7.750	03/15/16	B2		158,400
1,600,000	g	Quebecor Media, Inc	7.750	03/15/16	B2		1,536,000
4,830,000		Qwest Communications International, Inc	7.250	02/15/11	Ba3		4,830,000
500,000	m,n,v	Velocita Corp	13.750	05/15/10	NA		0
1,250,000		Videotron Ltee	6.875	01/15/14	Ba1		1,223,438
3,650,000		Windstream Corp	8.125	08/01/13	Ba3		3,777,750
		TOTAL COMMUNICATIONS					35,402,833
EATING AND DRINKING PLACES - 0.25%
920,000		ARAMARK Corp	8.500	02/01/15	B3		931,500
		TOTAL EATING AND DRINKING PLACES					931,500
ELECTRIC, GAS, AND SANITARY SERVICES - 12.00%
375,000	e	AES Corp	9.375	09/15/10	B1		393,750
1,000,000		AES Corp	8.875	02/15/11	B1		1,042,500
1,500,000	g	AES Corp	8.000	10/15/17	B1		1,533,750
250,000	e	Allied Waste North America, Inc	6.500	11/15/10	B1		250,000
1,000,000		Allied Waste North America, Inc	5.750	02/15/11	B1		980,000
500,000		Allied Waste North America, Inc	6.375	04/15/11	B1		495,000
3,200,000		Allied Waste North America, Inc	7.875	04/15/13	B1		3,272,000
1,750,000	i	CMS Energy Corp	6.193	01/15/13	Ba1		1,666,875
2,531,000	e	Dynegy Holdings, Inc	8.750	02/15/12	B2		2,556,310
2,775,000		Edison Mission Energy	7.500	06/15/13	B1		2,844,375

431

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        1,275,000		Edison Mission Energy	7.000%	05/15/17	B1	$	1,252,688
2,400,000	g	El Paso Performance-Linked Trust	7.750	07/15/11	Ba3		2,462,952
2,200,000	i,m,v	Energy Future Holdings Corp	10.011	10/10/14	NR		2,153,250
1,400,000	g	Energy Future Holdings Corp	10.875	11/01/17	B3		1,407,000
3,750,000	g	Intergen NV	9.000	06/30/17	Ba3		3,946,875
2,062,938		Midwest Generation LLC	8.300	07/02/09	Baa3		2,093,883
2,315,000		Mirant North America LLC	7.375	12/31/13	B1		2,320,788
1,250,000		NRG Energy, Inc	7.250	02/01/14	B1		1,218,750
2,500,000		NRG Energy, Inc	7.375	02/01/16	B1		2,437,500
250,000		Orion Power Holdings, Inc	12.000	05/01/10	B2		272,500
4,037,000		Reliant Energy, Inc	7.625	06/15/14	B3		3,996,630
1,075,000		Reliant Energy, Inc	6.750	12/15/14	B2		1,077,688
2,500,000		Sierra Pacific Resources	8.625	03/15/14	Ba3		2,671,330
1,250,000		Southern Natural Gas Co	8.000	03/01/32	Baa3		1,392,618
1,125,000		Williams Cos, Inc	8.125	03/15/12	Baa3		1,224,844
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					44,963,856
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.82%
2,871,000	e	Freescale Semiconductor, Inc	10.125	12/15/16	B3		2,368,575
3,500,000		L-3 Communications Corp	7.625	06/15/12	Ba3		3,583,125
845,000	g	Nortel Networks Ltd	10.125	07/15/13	B3		870,350
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					6,822,050
FABRICATED METAL PRODUCTS - 1.02%
1,250,000		Ball Corp	6.875	12/15/12	Ba1		1,268,750
2,227,000		Crown Americas LLC	7.625	11/15/13	B1		2,277,107
250,000		Crown Americas LLC	7.750	11/15/15	B1		257,500
		TOTAL FABRICATED METAL PRODUCTS					3,803,357
FOOD AND KINDRED PRODUCTS - 0.91%
1,140,000		Constellation Brands, Inc	8.375	12/15/14	Ba3		1,142,850
637,000	g	Constellation Brands, Inc	7.250	05/15/17	Ba3		589,225
1,750,000		Smithfield Foods, Inc	7.750	07/01/17	Ba3		1,693,125
		TOTAL FOOD AND KINDRED PRODUCTS					3,425,200
FOOD STORES - 1.19%
4,108,000		Stater Brothers Holdings	8.125	06/15/12	B2		4,056,650
426,000		Stater Brothers Holdings	7.750	04/15/15	B2		411,090
		TOTAL FOOD STORES					4,467,740
FURNITURE AND HOME FURNISHINGS STORES - 0.94%
3,400,000		GSC Holdings Corp	8.000	10/01/12	Ba3		3,540,250
		TOTAL FURNITURE AND HOME FURNISHINGS STORES					3,540,250
HEALTH SERVICES - 2.22%
1,750,000		DaVita, Inc	6.625	03/15/13	B1		1,741,250
1,850,000	e	DaVita, Inc	7.250	03/15/15	B2		1,854,625
3,860,000		HCA, Inc	9.125	11/15/14	B2		4,014,400
900,000		HCA, Inc	7.500	11/06/33	Caa1		704,250
		TOTAL HEALTH SERVICES					8,314,525
HOLDING AND OTHER INVESTMENT OFFICES - 2.16%
2,490,000	g	FMC Finance III S.A.	6.875	07/15/17	Ba3		2,490,000

432

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        1,750,000		Sungard Data Systems, Inc	9.125%	08/15/13	Caa1	$	1,780,625
1,490,000		Sungard Data Systems, Inc	10.250	08/15/15	Caa1		1,523,525
1,724,000		Susser Holdings LLC	10.625	12/15/13	B3		1,784,340
500,000	g	Susser Holdings LLC	10.625	12/15/13	B3		517,500
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					8,095,990
HOTELS AND OTHER LODGING PLACES - 1.45%
300,000		MGM Mirage	8.500	09/15/10	Ba2		311,250
3,250,000		MGM Mirage	6.750	09/01/12	Ba2		3,164,687
1,100,000	g,i	Seminole Hard Rock Entertainment, Inc	7.491	03/15/14	B1		1,050,500
1,000,000		Station Casinos, Inc	6.000	04/01/12	B2		890,000
		TOTAL HOTELS AND OTHER LODGING PLACES					5,416,437
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.92%
3,625,000		Scientific Games Corp	6.250	12/15/12	Ba3		3,461,875
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					3,461,875
INSURANCE CARRIERS - 0.44%
1,706,000		Centene Corp	7.250	04/01/14	Ba3		1,663,350
		TOTAL INSURANCE CARRIERS					1,663,350
JUSTICE, PUBLIC ORDER AND SAFETY - 0.20%
750,000		Corrections Corp of America	6.250	03/15/13	Ba2		738,750
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY					738,750
LEGAL SERVICES - 1.14%
1,500,000		FTI Consulting, Inc	7.625	06/15/13	Ba2		1,537,500
2,614,000		FTI Consulting, Inc	7.750	10/01/16	Ba2		2,718,560
		TOTAL LEGAL SERVICES					4,256,060
METAL MINING - 1.45%
3,400,000		Freeport-McMoRan Copper & Gold, Inc	8.250	04/01/15	Ba3		3,604,000
1,705,000		Freeport-McMoRan Copper & Gold, Inc	8.375	04/01/17	Ba3		1,828,612
		TOTAL METAL MINING					5,432,612
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.36%
1,357,000	e	Sally Holdings LLC	9.250	11/15/14	B3		1,343,430
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES					1,343,430
MISCELLANEOUS RETAIL - 1.23%
2,894,000		FTD, Inc	7.750	02/15/14	B3		2,720,360
2,104,000		Rite Aid Corp	7.500	01/15/15	B3		1,904,120
		TOTAL MISCELLANEOUS RETAIL					4,624,480
NONDEPOSITORY INSTITUTIONS - 6.27%
1,475,000		Ford Motor Credit Co	5.700	01/15/10	B1		1,328,943
1,550,000		Ford Motor Credit Co	7.875	06/15/10	B1		1,430,134
1,230,000		Ford Motor Credit Co	9.750	09/15/10	B1		1,173,668
1,704,000	e	Ford Motor Credit Co	9.875	08/10/11	B1		1,611,691
2,000,000		Ford Motor Credit Co	7.800	06/01/12	B1		1,753,324
1,500,000	e	Ford Motor Credit Co	7.000	10/01/13	B1		1,253,083
850,000		Ford Motor Credit Co	8.000	12/15/16	B1		721,999
1,650,000	e	General Motors Acceptance Corp LLC	5.625	05/15/09	Ba3		1,556,719

433

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        850,000		General Motors Acceptance Corp LLC	7.750%	01/19/10	Ba3	$	792,897
1,850,000		General Motors Acceptance Corp LLC	7.250	03/02/11	Ba3		1,621,597
1,912,500	e	General Motors Acceptance Corp LLC	6.875	09/15/11	Ba3		1,636,132
800,000		General Motors Acceptance Corp LLC	6.625	05/15/12	Ba3		665,054
1,035,000	e	General Motors Acceptance Corp LLC	8.000	11/01/31	Ba3		868,236
2,328,000	g	LVB Acquisition Merger Sub, Inc	11.625	10/15/17	Caa1		2,293,080
1,530,000	g	Petroplus Finance Ltd	6.750	05/01/14	B1		1,424,812
5,250,000		Residential Capital LLC	7.875	06/30/10	Ba3		3,360,000
		TOTAL NONDEPOSITORY INSTITUTIONS					23,491,369
OIL AND GAS EXTRACTION - 8.33%
1,265,000		Chesapeake Energy Corp	7.625	07/15/13	Ba3		1,306,112
1,000,000		Chesapeake Energy Corp	7.500	09/15/13	Ba3		1,022,500
2,500,000		Chesapeake Energy Corp	7.750	01/15/15	Ba3		2,550,000
2,375,000		Chesapeake Energy Corp	6.875	11/15/20	Ba3		2,280,000
1,660,000		Chesapeake Energy Corp	2.750	11/15/35	Ba3		1,942,200
2,276,000		Cimarex Energy Co	7.125	05/01/17	B1		2,236,170
3,125,000		Complete Production Services, Inc	8.000	12/15/16	B2		3,023,437
2,410,000		Denbury Resources, Inc	7.500	04/01/13	B1		2,434,100
1,150,000		Denbury Resources, Inc	7.500	12/15/15	B1		1,161,500
1,575,000		Encore Acquisition Co	6.000	07/15/15	B1		1,417,500
675,000	e	Encore Acquisition Co	7.250	12/01/17	B1		642,937
1,720,000	g	Key Energy Services, Inc	8.375	12/01/14	B1		1,758,700
3,000,000		Plains Exploration & Production Co	7.000	03/15/17	B1		2,868,750
1,233,000	e	Range Resources Corp	7.500	05/15/16	Ba3		1,257,660
1,750,000		Range Resources Corp	7.500	10/01/17	Ba3		1,767,500
3,725,000		Sabine Pass LNG LP	7.250	11/30/13	Ba3		3,557,375
		TOTAL OIL AND GAS EXTRACTION					31,226,441
PAPER AND ALLIED PRODUCTS - 4.12%
1,182,000		Abitibi-Consolidated Co of Canada	6.000	06/20/13	B3		805,237
2,059,000		Abitibi-Consolidated, Inc	8.550	08/01/10	B3		1,801,625
2,985,000		Cenveo Corp	7.875	12/01/13	B3		2,660,381
846,000		Domtar Corp	7.875	10/15/11	NR		863,977
1,060,000		Domtar Corp	7.125	08/15/15	B1		1,038,800
1,680,000	g	Georgia-Pacific LLC	7.000	01/15/15	Ba3		1,633,800
1,720,000	e	Graphic Packaging International, Inc	8.500	08/15/11	B2		1,702,800
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		1,920,750
844,000		Jefferson Smurfit Corp US	7.500	06/01/13	B3		808,130
946,000	g	NewPage Corp	10.000	05/01/12	B2		950,730
		TOTAL PAPER AND ALLIED PRODUCTS					15,417,880
PERSONAL SERVICES - 0.62%
2,400,000		Mac-Gray Corp	7.625	08/15/15	B2		2,340,000
		TOTAL PERSONAL SERVICES					2,340,000
PRIMARY METAL INDUSTRIES - 1.94%
2,346,000		General Cable Corp	7.125	04/01/17	B1		2,299,080
1,700,000	g,i,o	Noranda Aluminium Acquisition Corp	8.738	05/15/15	B3		1,428,000
2,030,000		Novelis, Inc	7.250	02/15/15	B3		1,908,200
1,000,000	g	Steel Dynamics, Inc	7.375	11/01/12	Ba2		1,005,000

434

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	$	617,600
		TOTAL PRIMARY METAL INDUSTRIES					7,257,880
PRINTING AND PUBLISHING - 3.53%
640,000		American Achievement Corp	8.250	04/01/12	B2		624,000
2,130,000		Idearc, Inc	8.000	11/15/16	B2		1,954,275
1,680,000		Medianews Group, Inc	6.875	10/01/13	B3		1,050,000
1,680,000		Medianews Group, Inc	6.375	04/01/14	B3		1,008,000
3,635,000		Morris Publishing Group LLC	7.000	08/01/13	B1		2,639,919
803,000	g	Quebecor World Capital Corp	8.750	03/15/16	Caa3		591,209
3,060,000		RH Donnelley Corp	8.875	01/15/16	B3		2,861,100
800,000	g	RH Donnelley Corp	8.875	10/15/17	B3		740,000
1,750,000		Visant Corp	7.625	10/01/12	B1		1,758,750
		TOTAL PRINTING AND PUBLISHING					13,227,253
SECURITY AND COMMODITY BROKERS - 0.51%
300,000		Corrections Corp of America	6.750	01/31/14	Ba2		301,125
1,000,000		E*Trade Financial Corp	7.375	09/15/13	Ba3		770,000
825,000	g	Nuveen Investments, Inc	10.500	11/15/15	B3		821,906
		TOTAL SECURITY AND COMMODITY BROKERS					1,893,031
SOCIAL SERVICES - 0.71%
2,780,000	g	Knowledge Learning Corp, Inc	7.750	02/01/15	B2		2,647,950
		TOTAL SOCIAL SERVICES					2,647,950
STONE, CLAY, AND GLASS PRODUCTS - 0.27%
1,000,000		Owens Brockway Glass Container, Inc	8.875	02/15/09	Ba2		1,003,750
		TOTAL STONE, CLAY, AND GLASS PRODUCTS					1,003,750
TRANSPORTATION BY AIR - 0.88%
3,278,000	g	Bristow Group, Inc	7.500	09/15/17	Ba2		3,294,390
		TOTAL TRANSPORTATION BY AIR					3,294,390
TRANSPORTATION EQUIPMENT - 3.79%
140,000	e,g	Allison Transmission	11.000	11/01/15	Caa1		127,400
1,250,000		American Railcar Industries, Inc	7.500	03/01/14	B1		1,181,250
2,452,000	e,g	Bombardier, Inc	6.750	05/01/12	Ba2		2,482,650
1,109,000	e,g	Bombardier, Inc	8.000	11/15/14	Ba2		1,158,905
500,000	e	General Motors Corp	7.200	01/15/11	Caa1		460,000
1,700,000	e	General Motors Corp	7.125	07/15/13	Baa1		1,474,750
650,000	e	General Motors Corp	7.700	04/15/16	Caa1		550,875
1,475,000		General Motors Corp	9.400	07/15/21	Caa1		1,309,800
2,670,000	e	General Motors Corp	8.375	07/15/33	Caa1		2,149,350
1,061,000	e,g	Hawker Beechcraft Acquisition Co LLC	9.750	04/01/17	Caa1		1,055,695
850,000	e	Lear Corp	8.500	12/01/13	B3		790,500
966,000		Trinity Industries, Inc	6.500	03/15/14	Baa3		949,095
566,000	g	TRW Automotive, Inc	7.000	03/15/14	Ba3		520,720
		TOTAL TRANSPORTATION EQUIPMENT					14,210,990
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

435

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
WHOLESALE TRADE-DURABLE GOODS - 2.49%
$        3,390,000	g	Baker & Taylor, Inc	11.500%	07/01/13	B2	$	3,356,100
1,900,000	e	IKON Office Solutions, Inc	7.750	09/15/15	Ba3		1,978,375
1,504,000		Interline Brands, Inc	8.125	06/15/14	B3		1,488,960
1,000,000	e	Russel Metals, Inc	6.375	03/01/14	Ba2		926,250
1,600,000	g	Ryerson, Inc	12.000	11/01/15	B2		1,580,000
		TOTAL WHOLESALE TRADE-DURABLE GOODS					9,329,685
WHOLESALE TRADE-NONDURABLE GOODS - 1.56%
1,500,000		AmeriGas Partners LP	7.125	05/20/16	B1		1,455,000
850,000		Inergy LP	6.875	12/15/14	B1		826,625
1,750,000		Inergy LP	8.250	03/01/16	B1		1,811,250
1,700,000		Supervalu, Inc	7.500	11/15/14	B1		1,742,500
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					5,835,375
		TOTAL CORPORATE BONDS					345,799,617
		(Cost $357,929,851)
SHARES		COMPANY
PREFERRED STOCKS - 0.47%
NONDEPOSITORY INSTITUTIONS - 0.47%
68,969		Federal National Mortgage Association (FNMA)	8.250	12/30/49	Aa3		1,775,952
		TOTAL PREFERRED STOCKS					1,775,952
		(Cost $1,724,225)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 12.62%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 5.33%
$        19,980,000		Federal Home Loan Bank (FHLB)		01/02/08			19,980,000
							19,980,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 7.29%
27,308,597		State Street Navigator Securities Lending Prime Portfolio					27,308,597
							27,308,597
		TOTAL SHORT-TERM INVESTMENTS					47,288,597
		(Cost $47,286,794)
		TOTAL PORTFOLIO - 105.38%					394,864,166
		(Cost $406,940,870)
		OTHER ASSETS & LIABILITIES, NET - (5.38)%					(20,172,785	)
		NET ASSETS - 100.00%				$	374,691,381
	+	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 December 31, 2007, the value of these securities amounted to $66,116,729 or 17.65% of net assets.
	h	These securities were purchased on a delayed delivery basis.
	i	Floating rate or variable rate securities reflects the rate at December 31, 2007.
	j	Zero coupon
	m	Indicates a security that has been deemed illiquid.
		At December 31, 2007, the unrealized depreciation on investments was $12,076,703, consisting of gross
		unrealized appreciation of $3,183,379 and gross unrealized depreciation of $15,260,082.

436

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
TAX-EXEMPT BOND FUND II
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
LONG -TERM MUNICIPAL BONDS - 99.84%
ALABAMA - 1.03%
$        250,000		City of Birmingham AL	5.000%	12/01/16	Aaa	$	273,870
2,400,000		Courtland Industrial Development Board	5.000	11/01/13	Baa3		2,425,200
		TOTAL ALABAMA					2,699,070
ALASKA - 0.94%
1,410,000		Alaska Railroad Corp	5.250	08/01/16	Aaa		1,561,646
975,000		Northern TOB Securitization Corp	4.625	06/01/23	Baa3		905,024
		TOTAL ALASKA					2,466,670
ARIZONA - 3.07%
640,000		Arizona Health Facilities Authority	5.625	12/01/15	Aaa		695,514
1,000,000		Arizona Health Facilities Authority	6.375	12/01/37	NA		1,143,840
1,000,000		Arizona Water Infrastructure Finance Authority	5.000	10/01/14	Aaa		1,094,360
1,185,000		Arizona Water Infrastructure Finance Authority	5.000	10/01/16	Aaa		1,307,482
1,670,000		Greater Arizona Development Authority	5.000	08/01/14	Aaa		1,809,829
570,000		Mesa AZ	5.000	07/01/19	Aaa		623,751
1,260,000		Tucson AZ	5.250	07/01/14	Aaa		1,378,768
		TOTAL ARIZONA					8,053,544
ARKANSAS - 1.79%
1,185,000		Arkansas Development Finance Authority	5.000	11/01/14	NA		1,290,524
1,600,000		Arkansas Development Finance Authority	5.500	12/01/18	NR		1,824,096
650,000		Fayetteville AR	5.000	11/01/16	Aaa		715,150
765,000		North Little Rock AR	6.500	07/01/15	Aaa		869,247
		TOTAL ARKANSAS					4,699,017
CALIFORNIA - 3.90%
1,000,000	i	California Pollution Control Financing Authority	5.125	11/01/23	NA		963,700
600,000	i	California Pollution Control Financing Authority	2.480	12/01/12	Aaa		600,000
20,000	i	Delta Counties Home Mortgage Finance Authority	6.700	06/01/24	Aaa		20,379
2,500,000		Long Beach Bond Finance Authority	5.250	11/15/22	A1		2,520,400
2,000,000		Los Angeles Unified School District	5.000	10/01/17	Aaa		2,181,860
1,700,000		San Diego Unified School District	5.500	07/01/19	Aaa		1,950,325
1,800,000		State of California	5.000	11/01/17	Aaa		1,980,288
		TOTAL CALIFORNIA					10,216,952
COLORADO - 0.21%
250,000		City of Colorado Springs CO	5.375	11/15/13	Aa2		268,008
165,000		Interlocken Metropolitan District	5.625	12/15/16	NA		170,338
120,000		Vista Ridge Metropolitan District	4.125	12/01/16	Aa3		115,888
		TOTAL COLORADO					554,234
CONNECTICUT - 0.62%
1,360,000		Connecticut Municipal Electric Energy Cooperative	7.000	01/01/15	#Aaa		1,623,500
		TOTAL CONNECTICUT					1,623,500

437

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
DISTRICT OF COLUMBIA - 1.20%
$        2,100,000		District of Columbia	5.000%	06/01/16	Aaa	$	2,284,590
685,000		District of Columbia	5.250	01/01/14	Aaa		745,424
100,000		District of Columbia	6.000	08/15/10	Aaa		107,198
		TOTAL DISTRICT OF COLUMBIA					3,137,212
FLORIDA - 6.80%
1,485,000		Broward County School Board	5.250	07/01/16	Aaa		1,626,491
1,500,000		Broward County School Board	5.250	07/01/15	Aaa		1,643,715
1,150,000		Charlotte County FL	5.000	10/01/14	Aaa		1,253,454
1,600,000		First Governmental Financing Commission	5.500	07/01/15	Aaa		1,795,840
2,500,000		Florida Department of Transportation	5.000	07/01/18	Aa2		2,721,275
725,000		Florida State Board of Education	5.000	07/01/18	Aaa		765,665
1,890,000		Florida State Board of Education	5.000	07/01/14	Aaa		2,038,554
1,925,000		Lake County School Board	5.250	06/01/18	Aaa		2,121,254
2,000,000		Lake County School Board	5.250	06/01/17	Aaa		2,189,420
100,000		Orange County Health Facilities Authority	5.700	10/01/12	#Aaa		110,034
1,440,000		Orange County Health Facilities Authority	6.250	10/01/10	Aaa		1,557,864
		TOTAL FLORIDA					17,823,566
GEORGIA - 2.84%
100,000		Cherokee County Water & Sewer Authority	5.500	08/01/18	Aaa		112,242
115,000		City of Atlanta GA	5.500	11/01/17	Aaa		128,993
270,000		City of Atlanta GA	5.500	11/01/10	NA		285,212
300,000		City of Atlanta GA	5.500	11/01/13	NA		329,034
35,000		City of Atlanta GA	5.500	11/01/18	NA		39,345
2,080,000		City of Atlanta GA	5.500	11/01/14	NA		2,301,250
695,000		Metropolitan Atlanta Rapid Transit Authority	6.250	07/01/18	Aaa		800,522
500,000		Metropolitan Atlanta Rapid Transit Authority	7.000	07/01/11	NA		546,155
480,000		Municipal Electric Authority of Georgia	6.500	01/01/17	A1		561,619
670,000		State of Georgia	5.000	07/01/13	Aaa		726,783
1,390,000		State of Georgia	5.750	08/01/16	Aaa		1,613,206
		TOTAL GEORGIA					7,444,361
ILLINOIS - 3.06%
940,000		Chicago Metropolitan Water Reclamation District-Greater Chicago	7.000	01/01/11	#Aaa		1,009,278
1,000,000		Chicago Public Building Commission Building	5.000	03/01/15	Aaa		1,086,290
1,000,000		City of Chicago IL	5.000	12/01/15	Aaa		1,091,980
655,000		Cook County Community Consolidated School District No 64	5.500	12/01/14	Aaa		735,179
225,000	i	Illinois Finance Authority	5.500	03/01/14	Ba1		222,442
1,000,000		Illinois Municipal Electric Agency	5.250	02/01/17	Aaa		1,106,340
1,175,000		Kendall-Grundy Etc Counties High School District No 18	5.000	10/01/14	Aaa		1,280,703
100,000		Madison-Bond Etc Counties Community Unit School District No 5	5.000	02/01/19	A3		108,594
1,260,000		Metropolitan Pier & Exposition Authority	5.375	06/01/13	Aaa		1,375,454
		TOTAL ILLINOIS					8,016,260
INDIANA - 5.33%
2,500,000		Avon Community School Building Corp	5.000	07/15/17	Aaa		2,723,350
1,200,000		Center Grove School Building Corp	5.000	07/15/14	Aaa		1,298,436
1,120,000		Franklin Community Multi-School Building Corporation	5.000	07/15/22	Aaa		1,204,045
1,000,000		Griffith Multi-School Building Corp	5.000	07/15/15	Aaa		1,092,310
1,520,000		Hammond Multi-School Building Corp	5.000	07/15/17	Aaa		1,655,797

438

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        2,120,000		Indiana Bond Bank	5.250%	04/01/19	Aaa	$	2,339,717
600,000		Indiana State Finance Authority Revenue	5.000	02/01/15	Aaa		654,384
1,240,000		Indianapolis Local Public Improvement Bond Bank	5.000	07/01/16	Aaa		1,344,321
515,000		New Albany Floyd County School Building Corp	5.000	07/15/15	NA		562,540
1,005,000		Northwest Allen School Building Corp	5.000	01/15/18	Aaa		1,103,912
		TOTAL INDIANA					13,978,812
KENTUCKY - 0.33%
820,000		Kentucky Turnpike Authority	6.000	07/01/11	#Aaa		867,453
		TOTAL KENTUCKY					867,453
LOUISIANA - 1.80%
1,500,000		City of New Orleans LA	5.500	12/01/21	Aaa		1,678,515
3,020,000		Desoto Parish LA	5.000	10/01/12	Baa3		3,052,767
		TOTAL LOUISIANA					4,731,282
MARYLAND - 0.43%
1,000,000		State of Maryland	5.250	03/01/17	Aaa		1,126,880
		TOTAL MARYLAND					1,126,880
MASSACHUSETTS - 2.85%
2,000,000		Commonwealth of Massachusetts	5.000	10/01/27	Aa2		2,162,280
1,000,000	i	Massachusetts Development Finance Agency	3.360	10/01/42	A3		1,000,000
970,000		Massachusetts Housing Finance Agency	4.700	12/01/16	Aa3		977,149
2,525,000		Massachusetts St Water Pollution Abatement	5.000	08/01/16	Aaa		2,772,021
500,000		Massachusetts St Water Pollution Abatement	5.250	08/01/17	Aaa		561,565
		TOTAL MASSACHUSETTS					7,473,015
MICHIGAN - 5.28%
1,175,000		Ann Arbor School District	5.000	05/01/15	Aaa		1,276,884
1,135,000		Bedford Public School District	5.000	05/01/14	Aaa		1,234,823
1,505,000		Caledonia Community Schools	5.000	05/01/15	Aaa		1,635,499
1,400,000		Detroit MI	5.000	07/01/14	Aaa		1,516,774
650,000		Forest Hills Public Schools	5.000	05/01/15	Aaa		710,730
1,750,000		L'Anse Creuse Public Schools	5.000	05/01/15	Aaa		1,913,503
850,000		New Haven Community Schools	5.250	05/01/16	Aaa		947,478
225,000		State of Michigan	5.250	05/15/18	Aaa		252,313
1,325,000		State of Michigan	5.500	11/01/16	Aa3		1,500,973
1,395,000		State of Michigan	5.500	11/01/18	Aaa		1,598,447
1,150,000		Wayne County Airport Authority	5.000	12/01/17	Aaa		1,239,367
		TOTAL MICHIGAN					13,826,791
MINNESOTA - 0.42%
1,000,000		Minnesota Public Facilities Authority	5.000	03/01/16	Aaa		1,104,120
		TOTAL MINNESOTA					1,104,120
MISSISSIPPI - 3.17%
1,120,000		Harrison County Wasterwater Management District	5.000	02/01/15	Baa1		1,203,653
1,090,000		Mississippi Development Bank Special Obligation	5.000	11/01/17	NA		1,190,749
2,000,000		Mississippi Development Bank Special Obligation	5.000	07/01/17	NA		2,181,420
900,000		State of Mississippi	5.000	12/01/13	Aaa		974,961
2,500,000		State of Mississippi	5.000	12/01/17	Aa3		2,745,700
		TOTAL MISSISSIPPI					8,296,483

439

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
MISSOURI - 3.61%
$        1,795,000	City of Sikeston MO	5.000%	06/01/22	Aaa	$	1,797,782
1,425,000	Missouri State Board of Public Buildings	5.000	10/01/16	Aa1		1,570,037
1,325,000	Missouri State Environmental Improvement & Energy
	Resources Authority	5.500	07/01/12	Aaa		1,448,079
2,100,000	Missouri State Health & Educational Facilities
	Authority	6.750	05/15/13	#Aaa		2,450,028
2,000,000	St Louis Regional Convention & Sports Complex
	Authority	5.250	08/15/14	Aaa		2,186,460
	TOTAL MISSOURI					9,452,386
NEBRASKA - 0.79%
1,000,000	Central Plains Energy Project	5.000	12/01/15	Aaa		1,031,580
1,000,000	Central Plains Energy Project	5.250	12/01/18	Aa3		1,036,960
	TOTAL NEBRASKA					2,068,540
NEVADA - 0.19%
500,000	County of Clark NV	5.300	10/01/11	NR		500,380
	TOTAL NEVADA					500,380
NEW JERSEY - 2.93%
2,000,000	Garden State Preservation Trust	6.375	11/01/15	Aaa		2,356,020
675,000	New Jersey Economic Development Authority	5.250	09/01/14	Aaa		738,295
865,000	New Jersey Economic Development Authority	5.375	06/15/14	Aa3		914,859
230,000	New Jersey State Turnpike Authority	5.700	05/01/13	#Aaa		243,733
20,000	New Jersey State Turnpike Authority	6.500	01/01/16	A3		23,149
55,000	New Jersey State Turnpike Authority	6.500	01/01/16	Aaa		63,664
230,000	New Jersey State Turnpike Authority	6.500	01/01/16	A3		266,230
1,000,000	New Jersey Transportation Trust Fund Authority	5.250	12/15/19	A1		1,111,750
260,000	New Jersey Transportation Trust Fund Authority	5.500	12/15/15	Aaa		293,298
1,000,000	New Jersey Transportation Trust Fund Authority	5.500	12/15/17	Aaa		1,132,610
350,000	State of New Jersey	5.500	07/15/16	Aaa		396,820
120,000	Tobacco Settlement Financing Corp	6.375	06/01/32	#Aaa		135,680
	TOTAL NEW JERSEY					7,676,108
NEW MEXICO - 0.88%
1,895,000	New Mexico Finance Authority	5.000	12/15/14	Aa2		2,076,257
205,000	New Mexico Mortgage Finance Authority	6.000	07/01/10	#Aaa		219,252
	TOTAL NEW MEXICO					2,295,509
NEW YORK - 5.25%
100,000	Dutchess County Resource Recovery Agency	5.000	01/01/10	N.A.		101,146
410,000	East Rochester Housing Authority	4.200	08/15/17	N.A.		412,169
195,000	Lackawanna Housing Authority	5.000	09/01/16	N.A.		207,234
2,000,000	Long Island Power Authority	5.250	12/01/14	A3		2,196,340
500,000	Metropolitan Transportation Authority	5.125	07/01/13	Aaa		508,200
700,000	Metropolitan Transportation Authority	5.500	11/15/13	Aaa		778,309
250,000	Metropolitan Transportation Authority	5.750	01/01/18	Aaa		291,800
810,000	New York State Dormitory Authority	4.150	08/15/17	N.A.		809,984
1,085,000	New York State Dormitory Authority	5.000	07/01/17	N.A.		1,106,353
1,000,000	New York State Dormitory Authority	5.000	07/01/16	Ba2		989,780
1,825,000	New York State Environmental Facilities Corp	5.000	03/15/14	N.A.		1,981,530

440

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
$        1,000,000	New York State Environmental Facilities Corp	5.250%	12/15/18	N.A.	$	1,133,640
1,730,000	New York State Thruway Authority	5.500	04/01/12	A1		1,873,711
1,300,000	Tobacco Settlement Financing Authority	5.500	06/01/16	A1		1,369,550
	TOTAL NEW YORK					13,759,746
NORTH CAROLINA - 0.44%
250,000	North Carolina Municipal Power Agency No 1
	Catawba	5.500	01/01/15	Aaa		278,965
40,000	North Carolina Municipal Power Agency No 1
	Catawba	6.000	01/01/11	Aaa		43,041
780,000	Pitt County NC	5.250	12/01/21	#Aaa		831,012
	TOTAL NORTH CAROLINA					1,153,018
OHIO - 4.68%
1,000,000	Buckeye Tobacco Settlement Financing Authority	5.000	06/01/15	Baa3		1,003,010
1,820,000	Cincinnati City School District	5.000	12/01/16	Aaa		1,988,004
200,000	Dayton OH	6.050	10/01/09	NA		209,708
165,000	Medina County Library District	5.250	12/01/19	Aaa		176,738
100,000	Ohio State Water Development Authority	6.000	12/01/16	#Aaa		110,946
1,000,000	Olentangy Local School District	5.500	12/01/19	Aaa		1,100,630
4,000,000	State of Ohio	4.950	09/01/20	NA		3,966,360
1,400,000	State of Ohio	5.000	06/15/14	Aa1		1,523,606
2,000,000	State of Ohio	5.000	05/01/17	Aa1		2,198,400
	TOTAL OHIO					12,277,402
OREGON - 0.99%
665,000	Oregon State Department of Administrative Services	5.000	04/01/13	Aaa		717,316
1,750,000	Oregon State Department of Administrative Services	5.250	05/01/17	Aaa		1,866,778
	TOTAL OREGON					2,584,094
PENNSYLVANIA - 7.30%
240,000	Allegheny County Hospital Development Authority	5.300	07/01/26	Aaa		266,654
1,580,000	Carbon County Hospital Authority	5.400	11/15/14	Aaa		1,695,640
1,855,000	Carbon County Industrial Development Authority	6.650	05/01/10	NR		1,894,382
500,000	City of Philadelphia PA	5.000	07/01/15	Aaa		547,325
1,000,000	City of Philadelphia PA	5.000	08/01/16	Aaa		1,090,910
825,000	City of Pittsburgh PA	5.000	09/01/13	Aaa		893,714
900,000	Commonwealth of Pennsylvania	5.000	01/01/16	Aa2		988,794
1,900,000	Commonwealth of Pennsylvania	5.375	07/01/17	Aa2		2,151,142
1,900,000	Delaware Valley Regional Financial Authority	5.500	07/01/12	Aa2		2,053,387
285,000	Pennsylvania Economic Development Financing
	Authority	5.250	12/01/16	N.A.		286,083
115,000	Pennsylvania Economic Development Financing
	Authority	6.000	11/01/11	A2		121,529
1,030,000	Pennsylvania Economic Development Financing
	Authority	6.000	11/01/09	A2		1,066,205
280,000	Pennsylvania Economic Development Financing
	Authority	6.250	11/01/31	A2		291,990
235,000	Pennsylvania Economic Development Financing
	Authority	6.375	11/01/41	A2		245,512
1,250,000	Pennsylvania Economic Development Financing
	Authority	6.500	11/01/16	A2		1,336,688
500,000	Philadelphia Authority for Industrial Development	4.250	09/01/19	NA		467,145

441

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        2,000,000		Philadelphia School District	5.000%	06/01/24	Aaa	$	2,151,260
1,370,000		Pittsburgh Urban Redevelopment Authority	6.000	09/01/16	#Aaa		1,573,048
		TOTAL PENNSYLVANIA					19,121,408
PUERTO RICO - 5.96%
560,000		Commonwealth of Puerto Rico	5.000	07/01/13	Baa3		578,715
1,000,000		Commonwealth of Puerto Rico	5.250	07/01/16	Baa3		1,046,690
1,200,000		Commonwealth of Puerto Rico	5.250	07/01/12	Baa3		1,249,092
2,015,000		Commonwealth of Puerto Rico	5.500	07/01/15	Baa3		2,144,565
1,000,000		Government Development Bank for Puerto Rico	5.000	12/01/16	Baa3		1,034,100
2,300,000		Puerto Rico Highway & Transportation Authority	5.000	07/01/14	Baa3		2,385,077
2,670,000		Puerto Rico Public Buildings Authority	5.000	07/01/28	Baa3		2,735,735
1,000,000		Puerto Rico Public Buildings Authority	5.500	07/01/13	Baa3		1,057,640
3,235,000	i	Puerto Rico Public Finance Corp	5.750	08/01/27	Ba1		3,379,022
		TOTAL PUERTO RICO					15,610,636
RHODE ISLAND - 0.85%
1,000,000		Rhode Island State & Providence Plantations	5.000	10/01/16	Aaa		1,099,420
1,015,000		Rhode Island State & Providence Plantations	5.250	10/01/14	Aaa		1,116,957
		TOTAL RHODE ISLAND					2,216,377
SOUTH CAROLINA - 0.76%
385,000		County of Greenville SC	5.000	04/01/17	Aaa		396,242
150,000		Georgetown County SC	5.700	04/01/14	Baa3		156,702
1,320,000		Scago Educational Facilities Corp for Colleton School
		District	5.000	12/01/16	Aaa		1,441,849
		TOTAL SOUTH CAROLINA					1,994,793
SOUTH DAKOTA - 0.44%
1,000,000		Sioux Falls SD	6.750	11/15/33	NA		1,153,320
		TOTAL SOUTH DAKOTA					1,153,320
TENNESSEE - 2.43%
100,000		Clarksville Natural Gas Acquisition Corp	5.000	12/15/16	A1		100,643
990,000		Memphis-Shelby County Airport Authority	5.000	09/01/09	Baa2		1,011,265
105,000		Shelby County Health Educational & Housing
		Facilities Board	5.500	08/15/19	Aaa		117,973
5,000,000		Tennessee Energy Acquisition Corp	5.000	09/01/16	Aa3		5,134,000
		TOTAL TENNESSEE					6,363,881
TEXAS - 11.84%
2,500,000		Alliance Airport Authority	4.850	04/01/21	Baa2		2,379,900
3,900,000		Brazos River Authority	4.900	10/01/15	Aaa		4,011,033
490,000		Brazos River Authority	5.125	05/01/19	Aaa		502,216
715,000		Brazos River Authority	5.125	11/01/20	Aaa		738,588
135,000	i	Brazos River Authority	6.300	07/01/32	Caa1		123,269
80,000		Brazos River Authority	7.700	04/01/33	Caa1		82,576
390,000		City of Corpus Christi TX	5.000	07/15/15	Aaa		424,390
1,425,000		City of Houston TX	5.000	11/15/14	Aaa		1,553,450
260,000		City of Houston TX	5.800	07/01/10	#Aaa		268,736
2,000,000		County of Fort Bend TX	5.000	03/01/16	Aaa		2,181,560
1,500,000		County of Harris TX	5.000	08/15/16	Aaa		1,631,115
2,500,000		County of Harris TX	5.250	08/15/19	Aaa		2,807,725

442

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$        500,000		Guadalupe-Blanco River Authority	5.250%	04/15/19	Aaa	$	535,350
35,000		Harris County Flood Control District	5.000	10/01/14	Aa1		38,039
1,305,000		Lower Colorado River Authority	5.000	05/15/17	Aaa		1,376,397
1,050,000		Lower Colorado River Authority	6.000	01/01/17	Aaa		1,236,806
235,000		North Central Texas Health Facility Development
		Corp	5.500	06/01/21	#Aaa		264,869
500,000		SA Energy Acquisition Public Facility Corp	5.250	08/01/18	Aa3		521,420
1,000,000		SA Energy Acquisition Public Facility Corp	5.250	08/01/16	Aa3		1,049,930
2,000,000		SA Energy Acquisition Public Facility Corp	5.500	08/01/19	Aa3		2,123,140
75,000	i	Sabine River Authority	5.500	05/01/22	Caa1		71,684
1,145,000	i	Sabine River Authority	5.800	07/01/22	Caa1		1,037,565
1,845,000		Sabine River Authority	6.150	08/01/22	Caa1		1,730,204
450,000		San Felipe-Del Rio Consolidated Independent School
		District	5.500	08/15/19	Aaa		477,131
2,500,000		Texas Municipal Gas Acquisition & Supply Corp I	5.250	12/15/17	A1		2,552,375
1,210,000		Texas Public Building Authority	7.125	08/01/11	Aaa		1,299,818
		TOTAL TEXAS					31,019,286
VIRGINIA - 1.49%
1,700,000		City of Hopewell VA	5.000	07/15/09	A2		1,729,614
2,000,000		Virginia College Building Authority	5.000	09/01/14	Aa1		2,182,920
		TOTAL VIRGINIA					3,912,534
WASHINGTON - 2.38%
75,000		Cowlitz County Public Utility District No 1	5.000	09/01/11	Aaa		79,730
125,000		Cowlitz County Public Utility District No 1	5.000	09/01/11	Aaa		132,305
690,000		Port of Seattle WA	5.000	03/01/15	Aaa		746,828
2,925,000		Port of Seattle WA	5.500	09/01/17	Aaa		3,295,978
830,000		State of Washington	5.000	07/01/18	Aaa		892,723
1,000,000		Washington Economic Development Finance
		Authority	5.000	06/01/16	Aaa		1,086,390
		TOTAL WASHINGTON					6,233,954
WISCONSIN - 1.56%
1,650,000		State of Wisconsin	5.000	05/01/17	Aaa		1,805,513
2,000,000		State of Wisconsin	5.250	05/01/15	Aaa		2,210,720
70,000		State of Wisconsin	6.875	06/01/11	Aa1		75,403
		TOTAL WISCONSIN					4,091,636
		TOTAL LONG-TERM MUNICIPAL BONDS					261,624,230
		(Cost $259,605,500)
SHORT -TERM MUNICIPAL BONDS - 0.32%
NEW YORK - 0.32%
845,000	i	New York City Municipal Water Finance Authority	3.640	06/15/35	Aa2		845,000
		TOTAL NEW YORK					845,000
		TOTAL SHORT-TERM MUNICIPAL BONDS					845,000
		(Cost $845,000)
		TOTAL PORTFOLIO - 100.16%					262,469,230
		(Cost $260,450,500)

443

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
				VALUE
		OTHER ASSETS AND LIABILITIES, NET - (0.16)%	$	(407,692	)
		NET ASSETS - 100.00%	$	262,061,538
		ABBREVIATION:
		AMT - Alternative Minimum Tax
		COP - Certificate of Participation
		ETM - Escrowed to Maturity
		GO - General Obligation
		NR - Not Rated
	i	Variable rate demand note (VRDN)
		At December 31, 2007, the unrealized appreciation on investments was $2,018,726, consisting of
		gross unrealized appreciation of $3,251,843 and gross unrealized depreciation of $1,233,117.

444

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Inflation-Linked Bond Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INFLATION-LINKED BOND FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
GOVERNMENT BONDS - 98.95%
U.S. TREASURY SECURITIES - 98.95%
$        20,661,546	k	United States Treasury Inflation Indexed Bonds	3.875%	01/15/09	$	21,271,702
15,975,371	k	United States Treasury Inflation Indexed Bonds	4.250	01/15/10		17,046,216
36,817,311	k	United States Treasury Inflation Indexed Bonds	0.875	04/15/10		36,693,643
15,773,124	k	United States Treasury Inflation Indexed Bonds	3.500	01/15/11		16,963,507
22,982,865	k	United States Treasury Inflation Indexed Bonds	2.375	04/15/11		23,956,052
8,906,862	k	United States Treasury Inflation Indexed Bonds	3.375	01/15/12		9,716,131
17,965,996	k	United States Treasury Inflation Indexed Bonds	2.000	04/15/12		18,620,067
30,164,741	k	United States Treasury Inflation Indexed Bonds	3.000	07/15/12		32,669,715
28,085,368	k	United States Treasury Inflation Indexed Bonds	1.875	07/15/13		28,941,102
28,024,151	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/14		28,945,894
26,561,847	k	United States Treasury Inflation Indexed Bonds	2.000	07/15/14		27,443,780
18,272,138	k	United States Treasury Inflation Indexed Bonds	1.625	01/15/15		18,344,934
22,609,594	k	United States Treasury Inflation Indexed Bonds	1.875	07/15/15		23,045,892
22,120,809	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/16		22,701,481
21,926,439	k	United States Treasury Inflation Indexed Bonds	2.500	07/15/16		23,382,487
19,942,807	k	United States Treasury Inflation Indexed Bonds	2.375	01/15/17		21,044,329
17,640,525	k	United States Treasury Inflation Indexed Bonds	2.625	07/15/17		19,033,844
34,891,172	k	United States Treasury Inflation Indexed Bonds	2.375	01/15/25		36,684,928
23,183,955	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/26		23,121,591
18,208,560	k	United States Treasury Inflation Indexed Bonds	2.375	01/15/27		19,282,501
23,102,233	k	United States Treasury Inflation Indexed Bonds	3.625	04/15/28		29,332,213
26,815,146	k	United States Treasury Inflation Indexed Bonds	3.875	04/15/29		35,528,728
7,144,511	k	United States Treasury Inflation Indexed Bonds	3.375	04/15/32		9,167,551
		TOTAL U.S. TREASURY SECURITIES				542,938,288
		TOTAL GOVERNMENT BONDS
		(Cost $524,517,451)				542,938,288
SHORT-TERM INVESTMENTS - 0.17%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.17%
920,000		Federal Home Loan Bank (FHLB)		01/02/08		920,000
		TOTAL SHORT-TERM INVESTMENTS				920,000
		(Cost $919,917)
		TOTAL PORTFOLIO - 99.12%
		(Cost $525,437,368)				543,858,288
		OTHER ASSETS & LIABILITIES, NET - 0.88%				4,844,092
		NET ASSETS - 100.00%			$	548,702,380
	k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the
		Consumer Price Index.
		At December 31, 2007, the unrealized appreciation on investments was $18,420,920.

445

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MONEY MARKET FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
SHORT-TERM INVESTMENTS - 100.30%
BANK NOTES - 6.05%
$        1,663,000	JPMorgan Chase Bank NA	0.000%	01/02/08	$	1,662,759
1,346,000	JPMorgan Chase Bank NA	0.000	01/08/08		1,344,639
1,105,000	JPMorgan Chase Bank NA	0.000	01/22/08		1,101,842
1,095,000	JPMorgan Chase Bank NA	0.000	02/26/08		1,086,654
1,178,000	JPMorgan Chase Bank NA	0.000	02/27/08		1,168,861
1,112,000	JPMorgan Chase Bank NA	0.000	03/05/08		1,102,017
10,000,000	JPMorgan Chase Bank NA	0.000	03/20/08		9,903,444
1,439,000	JPMorgan Chase Bank NA	0.000	04/10/08		1,421,812
1,321,000	JPMorgan Chase Bank NA	0.000	04/21/08		1,303,404
2,126,000	JPMorgan Chase Bank NA	0.000	06/09/08		2,086,315
1,794,000	JPMorgan Chase Bank NA	0.000	06/23/08		1,757,582
7,000,000	JPMorgan Chase Bank NA	5.130	01/10/08		7,000,000
9,000,000	Wachovia Bank NA	0.000	03/11/08		8,912,500
10,000,000	Wachovia Bank NA	0.000	04/10/08		9,869,722
7,200,000	Wachovia Bank NA	0.000	05/23/08		7,075,590
15,000,000	Wells Fargo Bank NA	4.600	01/07/08		15,000,000
15,000,000	Wells Fargo Bank NA	4.600	01/08/08		15,000,000
	TOTAL BANK NOTES				86,797,141
CERTIFICATES OF DEPOSIT - 7.16%
10,000,000	American Express Bank FSB	5.170	01/09/08		10,000,044
5,000,000	American Express Bank FSB	5.170	03/03/08		5,000,170
10,000,000	American Express Centurion Bank	4.750	02/13/08		10,000,177
3,800,000	Banco Bilbao Vizcaya Argentaria S.A.	5.400	06/04/08		3,806,640
4,000,000	Bank of Montreal	4.810	02/06/08		4,000,059
5,000,000	Bank of Nova Scotia	4.680	02/11/08		5,000,000
10,000,000	Bank of Nova Scotia	4.700	03/06/08		10,000,000
10,000,000	Barclays Bank plc	4.990	02/27/08		10,000,000
3,310,000	Barclays Bank plc	5.190	02/12/08		3,310,000
5,000,000	Calyon	4.820	01/31/08		5,000,041
5,000,000	Deutsche Bank AG.	4.950	01/24/08		5,000,032
7,700,000	Deutsche Bank AG.	5.020	01/16/08		7,700,032
10,000,000	Dexia Banque S.A.	4.850	01/03/08		10,000,008
9,000,000	Dexia Banque S.A.	4.990	03/10/08		9,000,340
5,000,000	Royal Bank of Canada	5.060	01/25/08		5,000,049
	TOTAL CERTIFICATES OF DEPOSIT				102,817,592
COMMERCIAL PAPER - 70.19%
10,000,000	Abbey National North America LLC		01/08/08		9,990,919
8,065,000	Abbey National North America LLC		01/09/08		8,056,164
14,000,000	Abbey National North America LLC		02/05/08		13,936,436
8,706,000	Air Products & Chemicals		01/11/08		8,695,166
8,000,000	American Express Credit Corp		01/14/08		7,986,971
3,120,000	American Honda Finance Corp		01/04/08		3,118,835
5,000,000	American Honda Finance Corp		01/16/08		4,990,625

446

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
		MATURITY
PRINCIPAL	ISSUER	DATE		VALUE
$        14,000,000	American Honda Finance Corp	01/25/08	$	13,958,400
5,000,000	American Honda Finance Corp	02/12/08		4,974,625
4,300,000	American Honda Finance Corp	02/13/08		4,277,042
3,000,000	American Honda Finance Corp	02/21/08		2,982,150
10,000,000	American Honda Finance Corp	01/29/08		9,964,922
13,615,000	Bank of America Corp	02/21/08		13,522,387
7,000,000	Bank of America Corp	02/25/08		6,947,490
7,900,000	Bank of America Corp	03/06/08		7,831,819
5,000,000	Bank of America Corp	04/08/08		4,934,667
1,665,000	Bank of Scotland	01/18/08		1,661,069
10,000,000	Bank of Scotland	01/23/08		9,969,444
10,100,000	Bank of Scotland	01/28/08		10,061,368
9,495,000	Bank of Scotland	02/26/08		9,425,534
8,205,000	Bank of Scotland	02/29/08		8,140,153
3,800,000	Barclays U.S. Funding Corp	01/03/08		3,798,959
1,700,000	Calyon North America, Inc	01/18/08		1,696,066
5,000,000	Canadian Imperial Holding, Inc	01/30/08		4,981,057
1,700,000	Canadian Imperial Holding, Inc	02/05/08		1,691,736
10,000,000	Canadian Imperial Holding, Inc	02/12/08		9,945,890
6,755,000	Ciesco LLC	01/15/08		6,741,603
5,000,000	Ciesco LLC	01/17/08		4,989,156
12,000,000	Ciesco LLC	01/22/08		11,965,210
5,000,000	Ciesco LLC	02/19/08		4,969,375
5,000,000	Citigroup Funding, Inc	01/11/08		4,993,681
6,000,000	Citigroup Funding, Inc	01/24/08		5,979,492
7,000,000	Citigroup Funding, Inc	01/25/08		6,975,967
11,000,000	Citigroup Funding, Inc	01/29/08		10,959,703
2,200,000	Citigroup Funding, Inc	02/04/08		2,189,923
7,500,000	Citigroup Funding, Inc	02/25/08		7,447,292
5,000,000	Citigroup Funding, Inc	03/17/08		4,948,806
7,000,000	Coca-Cola Co	01/24/08		6,979,025
2,235,000	Coca-Cola Co	02/15/08		2,223,322
15,000,000	Coca-Cola Co	02/19/08		14,911,119
5,000,000	Corporate Asset Funding Corp	01/15/08		4,990,492
5,000,000	Corporate Asset Funding Corp	01/16/08		4,989,792
2,350,000	Corporate Asset Funding Corp	01/17/08		2,344,767
7,785,000	Corporate Asset Funding Corp	01/29/08		7,755,629
10,000,000	Danske Corp	03/03/08		9,918,367
2,697,000	Edison Asset Securitization LLC	04/24/08		2,659,336
2,985,000	General Electric Capital Corp	01/15/08		2,979,799
10,000,000	General Electric Capital Corp	01/17/08		9,978,889
5,000,000	General Electric Capital Corp	01/18/08		4,988,808
4,000,000	General Electric Capital Corp	02/22/08		3,972,960
10,000,000	General Electric Capital Corp	03/04/08		9,922,475
8,000,000	General Electric Capital Corp	03/26/08		7,912,167
3,000,000	General Electric Co	03/04/08		2,976,165
3,410,000	Goldman Sachs Group, Inc	01/11/08		3,405,217
10,000,000	Goldman Sachs Group, Inc	01/14/08		9,982,667
6,000,000	Govco LLC	01/17/08		5,987,133
5,000,000	Govco LLC	01/18/08		4,988,667
18,500,000	Govco LLC	01/22/08		18,445,590
5,000,000	Govco LLC	02/12/08		4,968,500
1,940,000	Govco LLC	02/20/08		1,926,258

447

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
		MATURITY
PRINCIPAL	ISSUER	DATE		VALUE
$        7,635,000	Govco LLC	02/22/08	$	7,575,447
20,000,000	Greenwich Capital Holdings, Inc	02/14/08		19,878,878
3,050,000	Harley-Davidson Funding Corp	01/25/08		3,040,647
7,050,000	HSBC Finance Corp	01/31/08		7,020,919
5,000,000	IBM International Group	02/05/08		4,978,368
3,170,000	IBM International Group	02/13/08		3,153,946
17,500,000	IBM International Group	02/28/08		17,373,689
2,440,000	ING US Funding LLC	01/14/08		2,435,876
10,000,000	ING US Funding LLC	01/30/08		9,961,897
8,000,000	ING US Funding LLC	02/07/08		7,962,054
10,000,000	ING US Funding LLC	02/20/08		9,933,056
5,000,000	ING US Funding LLC	02/26/08		4,961,189
2,935,000	International Business Machines Corp	01/04/08		2,933,924
7,470,000	JPMorgan Chase & Co	02/13/08		7,425,744
4,500,000	JPMorgan Chase & Co	04/17/08		4,439,144
2,000,000	Kitty Hawk Funding Corp	01/17/08		1,995,778
5,000,000	Kitty Hawk Funding Corp	01/25/08		4,983,550
1,525,000	Kitty Hawk Funding Corp	02/08/08		1,516,549
1,127,000	Kitty Hawk Funding Corp	02/27/08		1,118,256
5,000,000	Nestle Capital Corp	02/04/08		4,977,664
5,500,000	Nestle Capital Corp	02/06/08		5,473,930
1,327,000	Nestle Capital Corp	02/13/08		1,320,422
6,000,000	Nestle Capital Corp	03/05/08		5,944,427
1,000,000	Nestle Capital Corp	03/11/08		990,103
9,000,000	Nestle Capital Corp	03/13/08		8,912,160
5,000,000	Paccar Financial Corp	01/10/08		4,994,088
24,237,000	Paccar Financial Corp	02/15/08		24,101,148
10,200,000	Paccar Financial Corp	03/11/08		10,116,502
2,710,000	Park Avenue Receivables Corp	01/28/08		2,699,025
2,950,000	Pfizer, Inc	05/01/08		2,906,472
10,000,000	Pfizer, Inc	05/15/08		9,834,625
5,000,000	Private Export Funding Corp	01/14/08		4,990,918
1,500,000	Private Export Funding Corp	01/18/08		1,496,685
5,000,000	Private Export Funding Corp	01/29/08		4,981,489
4,000,000	Private Export Funding Corp	01/30/08		3,984,872
6,500,000	Private Export Funding Corp	01/31/08		6,475,463
3,000,000	Private Export Funding Corp	02/13/08		2,983,983
3,000,000	Private Export Funding Corp	02/26/08		2,979,093
5,000,000	Private Export Funding Corp	02/28/08		4,963,992
3,900,000	Private Export Funding Corp	03/26/08		3,860,588
5,000,000	Procter & Gamble International	01/31/08		4,982,500
5,000,000	Procter & Gamble International	02/01/08		4,980,194
8,000,000	Procter & Gamble International	03/07/08		7,934,733
11,000,000	Procter & Gamble International	03/12/08		10,905,629
5,500,000	Procter & Gamble International	03/14/08		5,453,270
10,000,000	Procter & Gamble International	03/19/08		9,908,567
20,000,000	Rabobank USA Financial Corp	03/05/08		19,835,022
5,000,000	Ranger Funding Co LLC	01/11/08		4,992,944
1,658,000	Ranger Funding Co LLC	01/14/08		1,654,707
2,516,000	Ranger Funding Co LLC	01/18/08		2,509,216
6,000,000	Ranger Funding Co LLC	01/24/08		5,979,492
3,457,000	Ranger Funding Co LLC	03/19/08		3,420,673
4,000,000	Royal Bank of Scotland plc	02/12/08		3,977,903

448

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
		MATURITY
PRINCIPAL	ISSUER	DATE		VALUE
$        10,000,000	Shell International Finance	03/28/08	$	9,891,975
10,000,000	Societe Generale North America, Inc	02/01/08		9,958,839
1,685,000	Societe Generale North America, Inc	04/04/08		1,664,585
10,000,000	Societe Generale North America, Inc	01/10/08		9,987,113
5,000,000	Societe Generale North America, Inc	01/15/08		4,990,113
5,000,000	Societe Generale North America, Inc	01/31/08		4,979,375
235,000	Svensk Exportkredit AB	01/14/08		234,597
5,000,000	Svensk Exportkredit AB	01/15/08		4,990,550
9,000,000	Svensk Exportkredit AB	01/17/08		8,981,547
14,000,000	Svensk Exportkredit AB	03/12/08		13,880,819
10,310,000	Svensk Exportkredit AB	03/14/08		10,215,921
5,000,000	Svensk Exportkredit AB	04/09/08		4,935,100
8,000,000	Toronto-Dominion Holdings	02/08/08		7,959,973
6,090,000	Toronto-Dominion Holdings	02/11/08		6,057,332
5,000,000	Toronto-Dominion Holdings	03/27/08		4,942,177
7,950,000	Toyota Motor Credit Corp	01/14/08		7,934,957
7,190,000	Toyota Motor Credit Corp	01/16/08		7,175,770
5,000,000	Toyota Motor Credit Corp	02/14/08		4,970,178
8,840,000	Toyota Motor Credit Corp	04/01/08		8,742,126
5,000,000	Toyota Motor Credit Corp	04/02/08		4,937,644
10,000,000	Toyota Motor Credit Corp	05/28/08		9,821,167
5,000,000	UBS Finance (Delaware) LLC	01/11/08		4,992,368
3,840,000	UBS Finance (Delaware) LLC	02/13/08		3,816,929
1,200,000	UBS Finance (Delaware) LLC	02/20/08		1,191,717
3,000,000	UBS Finance (Delaware) LLC	02/22/08		2,979,135
1,000,000	UBS Finance (Delaware) LLC	03/19/08		989,535
10,000,000	UBS Finance (Delaware) LLC	04/07/08		9,867,703
2,000,000	UBS Finance (Delaware) LLC	05/14/08		1,964,639
5,000,000	Unilever Capital Corp	01/11/08		4,994,153
5,000,000	United Parcel Service, Inc	02/29/08		4,963,944
14,655,000	United Parcel Service, Inc	03/18/08		14,520,215
6,245,000	United Parcel Service, Inc	03/31/08		6,176,305
1,840,000	United Parcel Service, Inc	04/01/08		1,819,628
5,000,000	Variable Funding Capital Corp	01/22/08		4,985,417
3,000,000	Variable Funding Capital Corp	04/25/08		2,955,533
10,190,000	Wal-Mart Stores, Inc	01/23/08		10,160,483
5,000,000	Wal-Mart Stores, Inc	01/29/08		4,981,722
10,000,000	Wal-Mart Stores, Inc	02/11/08		9,949,206
10,000,000	Yorktown Capital LLC	01/18/08		9,976,011
10,000,000	Yorktown Capital LLC	01/23/08		9,967,000
1,500,000	Yorktown Capital LLC	02/04/08		1,493,413
4,000,000	Yorktown Capital LLC	03/07/08		3,962,600
1,600,000	Yorktown Capital LLC	03/18/08		1,582,615
5,000,000	Yorktown Capital LLC	03/19/08		4,946,375
	TOTAL COMMERCIAL PAPER			1,007,607,160
U.S GOVERNMENT AND AGENCIES DISCOUNT NOTES - 12.71%
7,240,000	Federal Home Loan Bank (FHLB)	01/04/08		7,237,369
4,886,000	Federal Home Loan Bank (FHLB)	01/10/08		4,880,699
10,000,000	Federal Home Loan Bank (FHLB)	01/15/08		9,983,278
3,400,000	Federal Home Loan Bank (FHLB)	01/24/08		3,390,605
4,700,000	Federal Home Loan Bank (FHLB)	01/30/08		4,683,720
5,000,000	Federal Home Loan Bank (FHLB)	02/20/08		4,970,417

449

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$        8,865,000		Federal Home Loan Bank (FHLB)		03/17/08	$	8,785,087
4,500,000		Federal Home Loan Bank (FHLB)		03/19/08		4,458,563
5,000,000		Federal Home Loan Bank (FHLB)		03/24/08		4,950,892
1,805,000		Federal Home Loan Bank (FHLB)		01/16/08		1,801,766
7,205,000		Federal Home Loan Bank (FHLB)		01/23/08		7,186,243
5,055,000		Federal Home Loan Bank (FHLB)		03/05/08		5,017,076
2,779,000		Federal Home Loan Bank (FHLB)		04/16/08		2,744,751
10,000,000		Federal Home Loan Mortgage Corp (FHLMC)		01/07/08		9,992,250
5,000,000		Federal Home Loan Mortgage Corp (FHLMC)		01/31/08		4,982,292
8,356,000		Federal Home Loan Mortgage Corp (FHLMC)		02/21/08		8,305,690
5,000,000		Federal Home Loan Mortgage Corp (FHLMC)		02/25/08		4,967,344
1,000,000		Federal Home Loan Mortgage Corp (FHLMC)		02/29/08		992,986
2,000,000		Federal Home Loan Mortgage Corp (FHLMC)		03/20/08		1,981,435
15,660,000		Federal Home Loan Mortgage Corp (FHLMC)		03/24/08		15,505,326
4,200,000		Federal Home Loan Mortgage Corp (FHLMC)		04/07/08		4,152,583
10,600,000		Federal Home Loan Mortgage Corp (FHLMC)		02/19/08		10,535,060
4,590,000		Federal National Mortgage Association (FNMA)		01/02/08		4,589,356
5,000,000		Federal National Mortgage Association (FNMA)		04/02/08		4,946,717
1,120,000		Federal National Mortgage Association (FNMA)		04/07/08		1,107,265
5,197,000		Federal National Mortgage Association (FNMA)		01/09/08		5,192,057
6,280,000		Federal National Mortgage Association (FNMA)		01/23/08		6,263,651
5,391,000		Federal National Mortgage Association (FNMA)		01/30/08		5,372,370
5,000,000		Federal National Mortgage Association (FNMA)		02/07/08		4,978,365
5,000,000		Federal National Mortgage Association (FNMA)		02/19/08		4,971,417
5,000,000		Federal National Mortgage Association (FNMA)		03/07/08		4,960,950
5,000,000		Federal National Mortgage Association (FNMA)		03/26/08		4,949,413
1,165,000		Federal National Mortgage Association (FNMA)		03/27/08		1,153,422
2,520,000		Federal National Mortgage Association (FNMA)		03/28/08		2,494,483
		TOTAL U.S GOVERNMENT AND AGENCIES DISCOUNT NOTES				182,484,898
VARIABLE NOTES - 4.19% ( i )
5,000,000		Bank of Scotland plc	5.412%	11/12/08		5,000,000
5,000,000		Deutsche Bank AG.	4.490	11/03/08		5,000,000
5,000,000		Federal Home Loan Bank (FHLB)	4.250	11/20/08		5,000,000
12,000,000		PNC Bank NA	5.170	01/02/08		11,999,992
10,000,000		Suntrust Bank	4.845	01/28/08		10,000,211
4,160,000		US Bank NA	5.178	02/08/08		4,159,911
9,000,000		Wachovia Bank NA	4.981	11/25/08		9,000,000
9,890,000		Wells Fargo & Co	5.293	03/10/08		9,891,648
		TOTAL VARIABLE NOTES				60,051,762
		TOTAL SHORT-TERM INVESTMENTS				1,439,758,553
		(Cost $1,439,758,553)
		TOTAL PORTFOLIO - 100.30%				1,439,758,553
		(Cost $1,439,758,553)
		OTHER ASSETS & LIABILITIES, NET - (0.30)%				(4,250,912	)
		NET ASSETS - 100.00%			$	1,435,507,641
	i	Floating rate or variable rate securities reflects the rate at December 31, 2007.

450

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Notes to Statements of Investments (Unaudited)

NOTES TO STATEMENTS OF INVESTMENTS (Unaudited)

Note 1— organization and significant accounting policies

TIAA-CREF Institutional Mutual Funds (the “Funds” or individually, the “Fund”) is a Delaware statutory trust that was organized on April 15, 1999 and is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940 as an open-end investment company. The Funds currently consist of forty-two series.

The following is a summary of the significant accounting policies consistently followed by the Funds.

Valuation of investments: Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. Debt securities will generally be valued using prices provided by a pricing service which may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, qualityand type). Money market instruments (other than those in the Money Market Fund), with maturities of one year or less, are valued in the same manner as debt securities or derived from a pricing matrix that has various types of money market instruments along one axis and various maturities along the other. For the Money Market Fund, all of its investments are valued using the amortized cost. Investments in other registered investment companies are valued at their net asset value. Net asset value of underlying funds is calculated as of the close of business of the New York Stock Exchange (generally 4:00 pm Eastern Time). The market value of the underlying Funds is based on their net asset values as of the close of business on the valuation date. Foreign investments are valued at the closing values of such securities as of the date of valuation under the generally accepted valuation method in the country where traded, converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. Stock and bond index futures and options, which are traded on commodities exchanges, are valued at the last sales price as of the close of such commodities exchanges. Portfolio securities for which market quotations are not readily available are valued at fair value, as determined in good faith under the direction of the Board of Trustees.

Mortgage dollar roll transactions: The Funds may enter into mortgage dollar rolls in which the Fund sells mortgage-backed securities for delivery and contracts to repurchase substantially similar (same type, coupon, and maturity) securities on a specified future date. During the roll period, the Fund forgoes principal and interest paid on the securities. The Funds’ policy is to record the dollar rolls using “to be announced’’ mortgage-backed securities as purchase and sale transactions. Any difference between the purchase and sale price is recorded as a realized gain or loss on the trade date of the sale transaction. At the time a Fund enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its dollar roll commitments. Dollar rolls may be renewed with a new purchase and repurchase price and a cash settlement made on settlement date without physical delivery of the securities subject to the contract. The Funds engage in dollar rolls for the purpose of enhancing their yields.

Securities lending: The Funds may lend portfolio securities to qualified borrowers, consisting of financial institutions and brokers. By lending such securities, the Funds attempt to increase their net investment income through the receipt of interest on collateral (after rebates and fees). Such income is reflected separately on the Statement of operations. The value of loaned securities and the liability related to the cash collateral received are reflected on the Statements of assets and liabilities. The loans are secured by collateral equal to at least 102% of the market value of the securities loaned for U.S. securities and 105% of the market value of securities loaned for foreign securities. All cash collateral is invested in the State Street Navigator Securities Lending Prime Portfolio. The market value of the loaned securities is determined at the close of each business day, and any additional required collateral is delivered to the Funds before the end of the following business day.

Futures contracts:The Funds may use futures contracts to manage exposure to the equity markets or for cash management purposes to remain highly invested in the equity markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract and variation margin payments are made or received reflecting changes in the value of the futures contracts. Futures contracts are valued at the last sales price as of the close of the board of trade or exchange on which they are traded. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts, or if the counterparties do not perform in accordance with contractual provisions.

Securities purchased on a when-issued or delayed delivery basis:The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after trade date. At the time a Fund enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.

Treasury Inflation-Protected Securities:The Bond Fund, Bond Plus Fund II and Inflation-Linked Bond Fund invest in Treasury Inflation-Protected Securities (“TIPS”), specially structured bonds in which the principal amount is adjusted daily to keep pace with inflation, as measured by the U.S. Consumer Price Index

Restricted securities:Restricted securities held by the Funds, if any, may not be sold except in exempt transactions or in a public offering registered under the Securities Act of 1933. The risk of investing in such securities is generally greater than the risk of investing in securities which are widely held and publicly traded.

451

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Notes to Statements of Investments (Unaudited)

Transactions with affiliates:The Funds may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board of Trustees, pursuant to the Investment Company Act of 1940. These transactions are effected at market rates without incurring broker commissions.

Fair value measurement: In September 2006, the Financial Accounting Standards Board (“FASB”) issued Statement of Account Standards No. 157, “Fair Value Measurement” (“SFAS 157”). SFAS 157 defines fair value, establishes a frame work for measure fair value under U.S. generally accepted accounting principles (“GAAP”) and expands disclosure about fair value measurements. SFAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007. Disclosures under SFAS 157 are effective for the TIAA-CREF Institutional Mutual Funds Enhanced International Equity Index Fund, Enhanced Large-Cap Growth Index Fund and Enhanced Large-Cap Value Index Fund (collectively, “Enhanced Index Funds”). All other funds reporting, this disclosure is not yet effective and management is still assessing the impact SFAS 157 on those other funds.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels below:

•   Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the Enhanced Index Funds’ investments as of December 31, 2007:

		Investments in		Other Financial
		Securities		Instruments*
Enhanced International Equity Index
Level 1		$	29,027,219		-
Level 2		109,980			-
Level 3		-			-
	Total	$	29,137,199		-
Enhanced Large-Cap Growth Index
Level 1		$	19,971,687		-
Level 2		-			-
Level 3		-			-
	Total	$	19,971,687		-
Enhanced Large-Cap Value Index
Level 1		$	19,774,326		-
Level 2		-			-
Level 3		-			-
	Total	$	19,774,326		-

* Other financial instruments are derivative instruments not reflected in the statement of investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

452

TIAA-CREF LIFECYCLE FUNDS - 2010 Fund
TIAA-CREF LIFECYCLE FUNDS
2010 FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
8,074,040	TIAA-CREF Institutional Bond Fund	$	81,386,320	27.15	%
6,489,847	TIAA-CREF Institutional Growth Equity Fund		57,370,244	19.14
993,346	TIAA-CREF Institutional High-Yield Fund II		9,635,455	3.21
2,677,601	TIAA-CREF Institutional Inflation-Linked Bond Fund		28,275,468	9.43
3,136,706	TIAA-CREF Institutional International Equity Fund		41,498,616	13.84
3,571,968	TIAA-CREF Institutional Large-Cap Value Fund		53,079,438	17.71
1,700,141	TIAA-CREF Institutional Short-Term Bond Fund II		17,120,423	5.71
745,953	TIAA-CREF Institutional Small-Cap Equity Fund		10,100,199	3.37
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUND (Cost $297,611,803)		298,466,163	99.56
	TOTAL PORTFOLIO (Cost $297,611,803)		298,466,163	99.56
	OTHER ASSETS & LIABILITIES, NET		1,321,467	0.44
	NET ASSETS	$	299,787,630	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizedappreciation on investments was $854,360,consisting of gross unrealizedappreciation of $8,765,596 and gross unrealizeddepreciation of $7,911,236.

1

TIAA-CREF LIFECYCLE FUNDS - 2015 Fund
TIAA-CREF LIFECYCLE FUNDS
2015 FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
6,189,480	TIAA-CREF Institutional Bond Fund	$	62,389,963	24.67	%
6,408,699	TIAA-CREF Institutional Growth Equity Fund		56,652,896	22.40
906,989	TIAA-CREF Institutional High-Yield Fund II		8,797,791	3.48
1,472,413	TIAA-CREF Institutional Inflation-Linked Bond Fund		15,548,681	6.15
3,049,641	TIAA-CREF Institutional International Equity Fund		40,346,746	15.95
3,442,269	TIAA-CREF Institutional Large-Cap Value Fund		51,152,117	20.21
744,306	TIAA-CREF Institutional Short-Term Bond Fund II		7,495,158	2.96
701,797	TIAA-CREF Institutional Small-Cap Equity Fund		9,502,328	3.76
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUND (Cost $251,701,408)		251,885,680	99.58
	TOTAL PORTFOLIO (Cost $251,701,408)		251,885,680	99.58
	OTHER ASSETS & LIABILITIES, NET		1,052,486	0.42
	NET ASSETS	$	252,938,166	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizedappreciation on investments was $184,272,consisting of gross unrealizedappreciation of $7,686,559 and gross unrealizeddepreciation of $7,502,287.

2

TIAA-CREF LIFECYCLE FUNDS - 2020 Fund
TIAA-CREF LIFECYCLE FUNDS
2020 FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
5,064,544	TIAA-CREF Institutional Bond Fund	$	51,050,602	23.49	%
6,152,945	TIAA-CREF Institutional Growth Equity Fund		54,392,031	25.03
837,913	TIAA-CREF Institutional High-Yield Fund II		8,127,757	3.74
341,105	TIAA-CREF Institutional Inflation-Linked Bond Fund		3,602,071	1.66
2,929,809	TIAA-CREF Institutional International Equity Fund		38,761,375	17.84
3,337,891	TIAA-CREF Institutional Large-Cap Value Fund		49,601,053	22.82
164,806	TIAA-CREF Institutional Short-Term Bond Fund II		1,659,598	0.76
693,357	TIAA-CREF Institutional Small-Cap Equity Fund		9,388,054	4.32
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (Cost $217,460,120)		216,582,541	99.66
	TOTAL PORTFOLIO (Cost $217,460,120)		216,582,541	99.66
	OTHER ASSETS & LIABILITIES, NET		742,191	0.34
	NET ASSETS	$	217,324,732	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizeddepreciation on investments was $877,580,consisting of gross unrealizedappreciation of $6,711,619 and gross unrealizeddepreciation of $7,589,199.

3

TIAA-CREF LIFECYCLE FUNDS - 2025 Fund
TIAA-CREF LIFECYCLE FUNDS
2025 FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
3,218,055	TIAA-CREF Institutional Bond Fund	$	32,437,992	17.35	%
5,920,132	TIAA-CREF Institutional Growth Equity Fund		52,333,965	27.99
765,642	TIAA-CREF Institutional High-Yield Fund II		7,426,728	3.97
2,798,165	TIAA-CREF Institutional International Equity Fund		37,019,719	19.80
3,205,028	TIAA-CREF Institutional Large-Cap Value Fund		47,626,709	25.47
646,407	TIAA-CREF Institutional Small-Cap Equity Fund		8,752,354	4.68
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (Cost $187,834,604)		185,597,467	99.26
	TOTAL PORTFOLIO (Cost $187,834,604)		185,597,467	99.26
	OTHER ASSETS & LIABILITIES, NET		1,383,025	0.74
	NET ASSETS	$	186,980,492	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizeddepreciation on investments was $2,237,138,consisting of gross unrealizedappreciation of $5,307,377 and gross unrealizeddepreciation of $7,544,515.

4

TIAA-CREF LIFECYCLE FUNDS - 2030 Fund
TIAA-CREF LIFECYCLE FUNDS
2030 FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
1,527,056	TIAA-CREF Institutional Bond Fund	$	15,392,724	9.08	%
5,928,710	TIAA-CREF Institutional Growth Equity Fund		52,409,800	30.91
678,546	TIAA-CREF Institutional High-Yield Fund II		6,581,900	3.88
2,813,211	TIAA-CREF Institutional International Equity Fund		37,218,783	21.95
3,206,415	TIAA-CREF Institutional Large-Cap Value Fund		47,647,332	28.11
675,223	TIAA-CREF Institutional Small-Cap Equity Fund		9,142,519	5.39
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (Cost $171,145,271)		168,393,058	99.32
	TOTAL PORTFOLIO (Cost $171,145,271)		168,393,058	99.32
	OTHER ASSETS & LIABILITIES, NET		1,155,538	0.68
	NET ASSETS	$	169,548,596	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizeddepreciation on investments was $2,752,213,consisting of gross unrealizedappreciation of $5,033,866 and gross unrealizeddepreciation of $7,786,079.

5

TIAA-CREF LIFECYCLE FUNDS - 2035 Fund
TIAA-CREF LIFECYCLE FUNDS
2035 FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
818,848	TIAA-CREF Institutional Bond Fund	$	8,253,992	6.01	%
4,942,776	TIAA-CREF Institutional Growth Equity Fund		43,694,137	31.83
551,710	TIAA-CREF Institutional High-Yield Fund II		5,351,586	3.90
2,335,384	TIAA-CREF Institutional International Equity Fund		30,897,135	22.50
2,680,797	TIAA-CREF Institutional Large-Cap Value Fund		39,836,637	29.02
560,461	TIAA-CREF Institutional Small-Cap Equity Fund		7,588,641	5.53
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (Cost $138,234,205)		135,622,128	98.79
	TOTAL PORTFOLIO (Cost $138,234,205)		135,622,128	98.79
	OTHER ASSETS & LIABILITIES, NET		1,667,072	1.21
	NET ASSETS	$	137,289,200	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizeddepreciation on investments was $2,612,077,consisting of gross unrealizedappreciation of $3,901,221 and gross unrealizeddepreciation of $6,513,298.

6

TIAA-CREF LIFECYCLE FUNDS - 2040 Fund
TIAA-CREF LIFECYCLE FUNDS
2040 FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
1,154,823	TIAA-CREF Institutional Bond Fund	$	11,640,614	5.95	%
7,064,874	TIAA-CREF Institutional Growth Equity Fund		62,453,490	31.91
800,916	TIAA-CREF Institutional High-Yield Fund II		7,768,885	3.97
3,336,671	TIAA-CREF Institutional International Equity Fund		44,144,159	22.55
3,837,426	TIAA-CREF Institutional Large-Cap Value Fund		57,024,153	29.13
787,886	TIAA-CREF Institutional Small-Cap Equity Fund		10,667,977	5.45
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (Cost $197,930,679)		193,699,278	98.96
	TOTAL PORTFOLIO (Cost $197,930,679)		193,699,278	98.96
	OTHER ASSETS & LIABILITIES, NET		2,036,604	1.04
	NET ASSETS	$	195,735,882	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizeddepreciation on investments was $4,231,401,consisting of gross unrealizedappreciation of $5,218,229 and gross unrealizeddepreciation of $9,449,630.

7

TIAA-CREF LIFECYCLE FUNDS - 2045 Fund
TIAA-CREF LIFECYCLE FUNDS
2045 FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
11,920	TIAA-CREF Institutional Bond Fund	$	120,151	6.02	%
70,954	TIAA-CREF Institutional Growth Equity Fund		627,238	31.41
8,286	TIAA-CREF Institutional High-Yield Fund II		80,378	4.03
34,201	TIAA-CREF Institutional International Equity Fund		452,473	22.66
40,353	TIAA-CREF Institutional Large-Cap Value Fund		599,646	30.03
8,593	TIAA-CREF Institutional Small-Cap Equity Fund		116,349	5.83
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (Cost $2,128,273)		1,996,235	99.98
	TOTAL PORTFOLIO (Cost $2,128,273)		1,996,235	99.98
	OTHER ASSETS & LIABILITIES, NET		446	0.02
	NET ASSETS	$	1,996,681	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizeddepreciation on investments was $132,038,consisting of gross unrealizedappreciation of $0 and gross unrealizeddepreciation of $132,038.

8

TIAA-CREF LIFECYCLE FUNDS - 2050 Fund
TIAA-CREF LIFECYCLE FUNDS
2050 FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
11,920	TIAA-CREF Institutional Bond Fund	$	120,151	6.02	%
70,954	TIAA-CREF Institutional Growth Equity Fund		627,238	31.41
8,286	TIAA-CREF Institutional High-Yield Fund II		80,378	4.03
34,201	TIAA-CREF Institutional International Equity Fund		452,473	22.66
40,353	TIAA-CREF Institutional Large-Cap Value Fund		599,646	30.03
8,593	TIAA-CREF Institutional Small-Cap Equity Fund		116,349	5.83
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (Cost $2,128,273)		1,996,235	99.98
	TOTAL PORTFOLIO (Cost $2,128,273)		1,996,235	99.98
	OTHER ASSETS & LIABILITIES, NET		446	0.02
	NET ASSETS	$	1,996,681	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizeddepreciation on investments was $132,038,consisting of gross unrealizedappreciation of $0 and gross unrealizeddepreciation of $132,038.

9

TIAA-CREF LIFECYCLE FUNDS - Lifecycle Retirement Income Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE RETIREMENT INCOME FUND
STATEMENT OF INVESTMENTS (unaudited)
December 31, 2007
				% OF NET
SHARES	COMPANY		VALUE	ASSETS
	TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (a)
428,440	TIAA-CREF Institutional Bond Fund	$	4,318,678	42.94	%
164,100	TIAA-CREF Institutional Growth Equity Fund		1,450,642	14.42
20,688	TIAA-CREF Institutional High-Yield Fund II		200,675	2.00
56,845	TIAA-CREF Institutional Inflation-Linked Bond Fund		600,287	5.97
77,488	TIAA-CREF Institutional International Equity Fund		1,025,163	10.19
87,686	TIAA-CREF Institutional Large-Cap Value Fund		1,303,013	12.96
200,603	TIAA-CREF Institutional Money Market Fund		200,602	1.99
69,588	TIAA-CREF Institutional Short-Term Bond Fund II		700,752	6.97
17,711	TIAA-CREF Institutional Small-Cap Equity Fund		239,810	2.38
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS (Cost $10,347,220)		10,039,622	99.82
	TOTAL PORTFOLIO (Cost $10,347,220)		10,039,622	99.82
	OTHER ASSETS & LIABILITIES, NET		18,195	0.18
	NET ASSETS	$	10,057,817	100.00	%

(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.

At December 31, 2007, the net unrealizeddepreciation on investments was $307,598,consisting of gross unrealizedappreciation of $0 and gross unrealizeddepreciation of $307,598.

10

TIAA-CREF LIFECYCLE FUNDS - Notes to Statements of Investments (unaudited)

NOTES TO STATEMENTS OF INVESTMENTS (unaudited)

Note 1—significant accounting policies

The Lifecycle Funds (the “Funds,” individually referred to as the “Fund”), comprise ten of the forty-two funds offered by TIAA-CREF Institutional Mutual Funds, a Delaware statutory trust, that was organized on April 15, 1999 and is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940 as an open-end management investment company. The ten Lifecycle Funds are 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, and Retirement Income. Seven of the Funds offering two classes of shares: Retirement Class and Institutional Class, commenced operations on October 4, 2004 and January 17, 2007, respectively. The classes commenced operations with a seed money investment of $1,000,000 and $500,000; respectively. The Lifecycle Funds 2045 and 2050 also offers the Retirement and Institutional Classes however these funds commenced operations on November 30, 2007 with a seed investment of $1,000,000 per class. The Retirement Income Fund offers three classes of shares; Retirement, Institutional and Retail Class which commenced operations on November 30, 2007 with a seed investment of $3,000,000, $3,000,000 and $4,000,000; respectively. All seed money was contributed by Teachers Insurance and Annuity Association of America (“TIAA”). For the quarter ended December 31, 2007, TIAA had investments in the Funds as follows:

	Retirement Class				Institutional Class
		TIAA	Percentage of			TIAA	Percentage of
Fund		Investments	Net Assets			Investments	Net Assets
Lifecycle 2010	$	1,306,548	0.44	%	$	545,057	8.97	%
Lifecycle 2015		1,332,536	0.54			546,068	9.97
Lifecycle 2020		1,349,320	0.63			544,123	19.39
Lifecycle 2025		1,366,542	0.74			544,050	16.63
Lifecycle 2030		1,381,462	0.83			544,510	22.01
Lifecycle 2035		1,402,973	1.04			545,864	30.04
Lifecycle 2040		1,426,174	0.74			547,635	17.38
Lifecycle 2045		998,045	99.98			998,275	99.98
Lifecycle 2050		998,045	99.98			998,275	99.98
Lifecycle IMF
Retirement Income		3,000,485	100.02			3,001,241	100.03
		Retail Class
		TIAA	Percentage of
Fund		Investments	Net Assets
Lifecycle IMF
Retirement Income	$	4,001,655	98.62	%

Each Fund is a “fund of funds” that diversifies its assets by investing in Institutional Class shares of certain other series of TIAA-CREF Institutional Mutual Funds (the “Underlying Funds”). The Funds offer their shares, without a sales load, through their principal underwriter, Teachers Personal Investors Services, Inc. (“TPIS”), which is a wholly-owned indirect subsidiary of TIAA. TPIS offers the Funds’ Retirement Class shares through accounts established by employers, or the trustees of plans sponsored by employers, in most cases through TIAA-CREF, in connection with certain employee benefit plans, such as plans described in sections 401(a) (including 401(k) and Keogh plans), 403(b)(7) and 457 of the Internal Revenue Code (the “Code”). They may also be offered through custody accounts established as Individual Retirement Accounts (IRAs) pursuant to section 408 of the Code. TPIS is registered with the Commission as a broker-dealer and is a member of the National Association of Securities Dealers, Inc. Teachers Advisors Inc. (“Advisors”), a wholly-owned indirect subsidiary of TIAA, which is registered with the Commission as an investment adviser, provides investment management services to the Funds. The accompanying financial statements were prepared in accordance with U.S. generally accepted accounting principles which may require the use of estimates made by management. Actual results may differ from those estimates. The following is a summary of the significant accounting policies followed by the Funds.

Valuation of investments: The market value of the Underlying Funds is based on their net asset values as of the close of the New York Stock Exchange on the valuation date.

Accounting for investments: Securities transactions are accounted for as of the trade date. Interest income is recorded as earned. Dividends and distributions from the Underlying Funds are recorded on the ex-dividend date. Dividends from the Underlying Funds are recorded as dividend income, while capital gain distributions are recorded as Underlying Fund gain distributions on the Statement of Operations. Realized gains and losses on sales of Underlying Funds are based upon the specific identification method for both financial statement and federal income tax purposes.

11

TIAA-CREF LIFECYCLE FUNDS - Notes to Statements of Investments (unaudited)

Indemnification: In the normal course of business, each Fund enters into contracts that contain a variety of representations and warranties and which provide general indemnities. A Fund’s maximum exposure under these arrangements is unknown, as this would involve future claims against the Fund that have not yet occurred. Also, under the Funds’ organizational documents, the trustees and officers of the TIAA-CREF Institutional Mutual Funds are indemnified against certain liabilities that may arise out of their duties to the TIAA-CREF Institutional Mutual Funds. However, based on experience, the Funds expect the risk of loss due to these warranties and indemnities to be remote.

Note 2— new accounting pronouncements

In September 2006, the Financial Accounting Standards Board (“FASB”) issued Statement of Account Standards No. 157, “Fair Value Measurement” (“SFAS 157”). SFAS 157 defines fair value, establishes a frame work for measure fair value under U.S. generally accepted accounting principles (“GAAP”) and expands disclosure about fair value measurements. SFAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007. Disclosures under SFAS 157 are effective for the TIAA-CREF Lifecycle Funds 2045, 2050 and Retirement Income. All other funds reporting, this disclosure is not yet effective and management is still assessing the impact SFAS 157 on those other funds.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels below:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the Lifecycle Funds’ investments requiring disclosure under SFAS 157, as noted above, as of December 31, 2007:

		Investments in
		Securities
2045
Level 1		$1,996,235
Level 2
Level 3		-
	Total	$1,996,235
2050
Level 1		$1,996,235
Level 2		-
Level 3		-
	Total	$1,996,235
Retirement Income
Level 1		$10,039,622
Level 2		-
Level 3		-
	Total	$10,039,622

12

TIAA-CREF LIFECYCLEFUNDS - Affiliated Investments

The following is information about the holdings of the TIAA-CREF Lifecycle Funds in the
TIAA-CREF Institutional Mutual Funds as of December 31, 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	8,074,040	4.72	%	6,189,480	3.62	%	5,064,544	2.96	%
Growth Equity Fund - Institutional Class	6,489,847	13.91		6,408,699	13.74		6,152,945	13.19
High-Yield Fund II - Institutional Class	993,346	4.04		906,989	3.69		837,913	3.41
Inflation-Linked Bond Fund - Institutional Class	2,677,601	6.23		1,472,413	3.43		341,105	0.79
International Equity Fund - Institutional Class	3,136,706	4.72		3,049,641	4.59		2,929,809	4.41
Large-Cap Value Fund - Institutional Class	3,571,968	9.97		3,442,269	9.61		3,337,891	9.32
Short-Term Bond Fund II - Institutional Class	1,700,141	10.52		744,306	4.61		164,806	1.02
Small-Cap Equity Fund - Institutional Class	745,953	5.54		701,797	5.21		693,357	5.15
	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	3,218,055	1.88	%	1,527,056	0.89	%	818,848	0.48	%
Growth Equity Fund - Institutional Class	5,998,603	12.86		5,928,710	12.71		4,942,776	10.60
High-Yield Fund II - Institutional Class	765,642	3.12		678,546	2.76		551,710	2.25
International Equity Fund - Institutional Class	2,798,165	4.21		2,813,211	4.24		2,335,384	3.52
Large-Cap Value Fund - Institutional Class	3,205,028	8.95		3,206,415	8.95		2,680,797	7.48
Small-Cap Equity Fund - Institutional Class	646,407	4.80		675,223	5.02		560,461	4.16

	Lifecycle 2040 Fund			Lifecycle 2045 Fund			Lifecycle 2050 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	1,154,823	0.68	%	11,920	0.01	%	11,920	0.01	%
Growth Equity Fund - Institutional Class	7,064,874	15.14		70,954	0.15		70,954	0.15
High-Yield Fund II - Institutional Class	800,916	3.26		8,286	0.03		8,286	0.03
International Equity Fund - Institutional Class	3,336,671	5.02		34,201	0.05		34,201	0.05
Large-Cap Value Fund - Institutional Class	3,837,426	10.71		40,353	0.11		40,353	0.11
Small-Cap Equity Fund - Institutional Class	787,886	5.85		8,593	0.06		8,593	0.06
	Lifecycle Retirement Income Fund			All Lifecycle Funds
	Number of	Percent of Total		Number of	Percent of Total
	Shares held in	Shares outstanding		Shares held in	Shares outstanding
	Funds	in the Funds		Funds	in the Funds
TIAA-CREF Institutional Mutual Funds:
Bond Fund - Institutional Class	428,440	0.25	%	26,499,126	15.50	%
Growth Equity Fund - Institutional Class	164,100	11.91		43,292,462	92.80
High-Yield Fund II - Institutional Class	20,688	1.14		5,572,322	22.68
Inflation-Linked Bond Fund - Institutional Class	56,845	0.01		4,547,964	10.58
International Equity Fund - Institutional Class	77,488	3.06		20,545,477	30.93
Large-Cap Value Fund - Institutional Class	87,686	7.45		23,450,186	65.47
Short-Term Bond Fund II - Institutional Class	69,588	0.00		2,678,841	16.58
Small-Cap Equity Fund - Institutional Class	17,711	0.13		4,845,981	35.99
Money Market Fund - Institutional Class	200,603	0.08		200,603	0.08

13

Item 2.    Controls and Procedures.

                (a) An evaluation was performed within 90 days of 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 control 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:	February 21, 2008	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:	February 21, 2008	By:	/s/ Scott C. Evans
			Scott C. Evans
			Principal Executive Officer and President
			(principal executive officer)
Date:	February 21, 2008	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