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: June 30, 2008 

Item 1. Schedule of Investments.

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
GROWTH EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 95.73%
AMUSEMENT AND RECREATION SERVICES - 1.94%
11,400		Nintendo Co Ltd	$	6,464,633
		TOTAL AMUSEMENT AND RECREATION SERVICES		6,464,633
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.38%
61,132		Lowe's Cos, Inc		1,268,489
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		1,268,489
BUSINESS SERVICES - 12.29%
95,213	*	Adobe Systems, Inc		3,750,440
135,139	*	eBay, Inc		3,693,349
835,007		Experian Group Ltd		6,175,678
17,908	*	Google, Inc (Class A)		9,427,129
144,645	*	Intuit, Inc		3,987,863
13,807	e	Mastercard, Inc (Class A)		3,666,035
33,588		Omnicom Group, Inc		1,507,429
188,640	*	Oracle Corp		3,961,440
10,658	e*	Sohu.com, Inc		750,750
15,960		Visa, Inc (Class A)		1,297,708
133,968	*	Yahoo!, Inc		2,767,779
		TOTAL BUSINESS SERVICES		40,985,600
CHEMICALS AND ALLIED PRODUCTS - 18.79%
98,059		Abbott Laboratories		5,194,185
32,588		Air Products & Chemicals, Inc		3,221,650
222,936		Avon Products, Inc		8,030,155
21,271		Celanese Corp (Series A)		971,234
81,233		Colgate-Palmolive Co		5,613,200
61,297	*	Genentech, Inc		4,652,442
182,107	*	Gilead Sciences, Inc		9,642,566
129,693		Merck & Co, Inc		4,888,129
77,521		Monsanto Co		9,801,755
54,252	e	Mylan Laboratories, Inc		654,822
35,831		Praxair, Inc		3,376,713
144,030		Teva Pharmaceutical Industries Ltd (ADR)		6,596,574
		TOTAL CHEMICALS AND ALLIED PRODUCTS		62,643,425
COAL MINING - 1.78%
25,807		Peabody Energy Corp		2,272,306
62,012	e	Sasol Ltd (ADR)		3,654,987
		TOTAL COAL MINING		5,927,293
COMMUNICATIONS - 1.56%
123,432	*	American Tower Corp (Class A)		5,215,002
		TOTAL COMMUNICATIONS		5,215,002

1

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
DEPOSITORY INSTITUTIONS - 1.33%
179,256		Western Union Co	$	4,431,208
		TOTAL DEPOSITORY INSTITUTIONS		4,431,208
EATING AND DRINKING PLACES - 0.53%
50,390		Yum! Brands, Inc		1,768,185
		TOTAL EATING AND DRINKING PLACES		1,768,185
ELECTRIC, GAS, AND SANITARY SERVICES - 0.15%
6,821		Questar Corp		484,564
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		484,564
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 11.81%
68,904		Altera Corp		1,426,313
39,195	*	Apple Computer, Inc		6,562,811
198,763	*	Cisco Systems, Inc		4,623,227
232,855		Intel Corp		5,001,725
195,190	*	Marvell Technology Group Ltd		3,447,055
68,502	*	Nvidia Corp		1,282,357
222,779		Qualcomm, Inc		9,884,704
61,182	*	Research In Motion Ltd		7,152,176
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		39,380,368
ENGINEERING AND MANAGEMENT SERVICES - 3.58%
113,183	*	Celgene Corp		7,228,998
41,007	*	Jacobs Engineering Group, Inc		3,309,265
16,146	e*	Shaw Group, Inc		997,661
9,731	*	URS Corp		408,410
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		11,944,334
FOOD AND KINDRED PRODUCTS - 0.95%
66,023		H.J. Heinz Co		3,159,201
		TOTAL FOOD AND KINDRED PRODUCTS		3,159,201
GENERAL MERCHANDISE STORES - 3.24%
109,707		Macy's, Inc		2,130,510
157,533		TJX Cos, Inc		4,957,564
66,011		Wal-Mart Stores, Inc		3,709,818
		TOTAL GENERAL MERCHANDISE STORES		10,797,892
HOLDING AND OTHER INVESTMENT OFFICES - 0.34%
12,445	*	Affiliated Managers Group, Inc		1,120,797
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		1,120,797
HOTELS AND OTHER LODGING PLACES - 0.24%
23,867	e*	MGM Mirage		808,853
		TOTAL HOTELS AND OTHER LODGING PLACES		808,853
INDUSTRIAL MACHINERY AND EQUIPMENT - 2.34%
171,625		Applied Materials, Inc		3,276,321
95,147	*	EMC Corp		1,397,709
70,936		Hewlett-Packard Co		3,136,081
2,400	m,v*	Seagate Technology		0
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		7,810,111

2

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
INSTRUMENTS AND RELATED PRODUCTS - 8.62%
122,471	*	Agilent Technologies, Inc	$	4,352,619
94,857		Allergan, Inc		4,937,307
139,336		Emerson Electric Co		6,890,165
65,828	e*	Flir Systems, Inc		2,670,642
175,641	e*	Hologic, Inc		3,828,974
15,670	*	Intuitive Surgical, Inc		4,221,498
28,072		Roper Industries, Inc		1,849,383
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		28,750,588
INSURANCE CARRIERS - 1.75%
29,193	*	ACE Ltd		1,608,242
67,457		Aflac, Inc		4,236,300
		TOTAL INSURANCE CARRIERS		5,844,542
METAL MINING - 1.27%
60,443		Anglo American plc		4,245,167
		TOTAL METAL MINING		4,245,167
MISCELLANEOUS RETAIL - 5.13%
80,869	*	Amazon.com, Inc		5,930,124
158,747		CVS Corp		6,281,619
206,637		Staples, Inc		4,907,629
		TOTAL MISCELLANEOUS RETAIL		17,119,372
OIL AND GAS EXTRACTION - 9.13%
17,418		Chesapeake Energy Corp		1,148,891
289,550	*	Denbury Resources, Inc		10,568,575
149,240	e*	Nabors Industries Ltd		7,347,085
51,684	*	National Oilwell Varco, Inc		4,585,405
25,753		Petroleo Brasileiro S.A (ADR)		1,492,386
23,111		Schlumberger Ltd		2,482,815
41,239		XTO Energy, Inc		2,825,284
		TOTAL OIL AND GAS EXTRACTION		30,450,441
PETROLEUM AND COAL PRODUCTS - 2.73%
25,273		Apache Corp		3,512,947
25,161		Devon Energy Corp		3,023,346
28,347		Occidental Petroleum Corp		2,547,261
		TOTAL PETROLEUM AND COAL PRODUCTS		9,083,554
PRIMARY METAL INDUSTRIES - 1.25%
25,580		Precision Castparts Corp		2,465,145
4,889		Vallourec		1,709,827
		TOTAL PRIMARY METAL INDUSTRIES		4,174,972
RAILROAD TRANSPORTATION - 0.49%
21,777		Union Pacific Corp		1,644,164
		TOTAL RAILROAD TRANSPORTATION		1,644,164
SECURITY AND COMMODITY BROKERS - 2.98%
291,696	e	Charles Schwab Corp		5,991,436

3

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth Equity Fund
SHARES		COMPANY		VALUE
34,683	*	IntercontinentalExchange, Inc	$	3,953,862
		TOTAL SECURITY AND COMMODITY BROKERS		9,945,298
TRANSPORTATION EQUIPMENT - 1.13%
53,964		Boeing Co		3,546,514
12,023	*	Spirit Aerosystems Holdings, Inc (Class A)		230,601
		TOTAL TRANSPORTATION EQUIPMENT		3,777,115
		TOTAL COMMON STOCKS		319,245,168
		(Cost $318,870,521)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 9.47%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 3.64%
$      12,120,000		Federal Home Loan Bank (FHLB), 07/01/08		12,120,000
				12,120,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.83%
19,451,938		State Street Navigator Securities Lending Prime Portfolio		19,451,938
				19,451,938
		TOTAL SHORT-TERM INVESTMENTS		31,571,938
		(Cost $31,571,938)
		TOTAL PORTFOLIO - 105.20%		350,817,106
		(Cost $350,442,459)
		OTHER ASSETS & LIABILITIES, NET - (5.20)%		(17,354,373	)
		NET ASSETS - 100.00%	$	333,462,733
		The following abbreviations are used in portfolio descriptions:
		ADR - American Depositary Receipt
		plc     - Public Limited Company
	*	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 June 30, 2008, the net unrealized appreciation on investments was $374,647,
		consisting of gross unrealized appreciation of $15,710,971 and gross unrealized depreciation of
		$15,336,324.

4

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
GROWTH & INCOME FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.40%
AMUSEMENT AND RECREATION SERVICES - 2.04%
246,243	*	Activision, Inc	$	8,389,499
11,369		Nintendo Co Ltd		6,447,054
174,821	e*	WMS Industries, Inc		5,204,421
		TOTAL AMUSEMENT AND RECREATION SERVICES		20,040,974
APPAREL AND ACCESSORY STORES - 0.68%
194,200		Gap, Inc		3,237,314
103,479	e*	J Crew Group, Inc		3,415,842
		TOTAL APPAREL AND ACCESSORY STORES		6,653,156
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.47%
195,293		Home Depot, Inc		4,573,762
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		4,573,762
BUSINESS SERVICES - 6.46%
84,103	*	Affiliated Computer Services, Inc (Class A)		4,498,669
102,747	*	Check Point Software Technologies		2,432,021
48,610	e	Ctrip.com International Ltd (ADR)		2,225,366
212,967	*	eBay, Inc		5,820,388
24,368	*	Google, Inc (Class A)		12,827,803
10,575	e	Mastercard, Inc (Class A)		2,807,874
553,074		Microsoft Corp		15,215,066
539,023	*	Oracle Corp		11,319,483
37,070		Visa, Inc (Class A)		3,014,162
156,568	*	Yahoo!, Inc		3,234,695
		TOTAL BUSINESS SERVICES		63,395,527
CHEMICALS AND ALLIED PRODUCTS - 15.80%
312,563	*	Abbott Laboratories		16,556,462
31,746		Akzo Nobel NV		2,172,493
109,350	*	Amgen, Inc		5,156,946
125,019		Avon Products, Inc		4,503,184
93,331		Bayer AG.		7,852,699
271,277		Bristol-Myers Squibb Co		5,569,317
107,337	*	Celgene Corp		6,855,614
101,194	e*	Chattem, Inc		6,582,670
69,507		Clorox Co		3,628,265
101,785		Colgate-Palmolive Co		7,033,344
196,800		Du Pont (E.I.) de Nemours & Co		8,440,752
140,893	*	Elan Corp plc (ADR)		5,008,746
71,180	*	Genentech, Inc		5,402,562
107,593	*	Genzyme Corp		7,748,848
222,308	*	Gilead Sciences, Inc		11,771,209
199,419		Merck & Co, Inc		7,516,102
91,236		Monsanto Co		11,535,880
39,916		Mosaic Co		5,775,845
41,347	*	NBTY, Inc		1,325,585

5

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
65,542		Praxair, Inc	$	6,176,678
229,132		Procter & Gamble Co		13,933,517
41,419	e	Sherwin-Williams Co		1,902,375
151,580	e*	Valeant Pharmaceuticals International		2,593,534
		TOTAL CHEMICALS AND ALLIED PRODUCTS		155,042,627
COAL MINING - 0.50%
56,165		Peabody Energy Corp		4,945,328
		TOTAL COAL MINING		4,945,328
COMMUNICATIONS - 3.42%
51,595		America Movil S.A. de C.V. (ADR) (Series L)		2,721,636
379,695		AT&T, Inc		12,791,925
254,465	e*	Citizens Communications Co		2,885,633
110,005		Scripps Networks Interactive (Class A)		4,218,692
309,750		Verizon Communications, Inc		10,965,150
		TOTAL COMMUNICATIONS		33,583,036
DEPOSITORY INSTITUTIONS - 5.72%
313,805		Bank of America Corp		7,490,525
526,654		Citigroup, Inc		8,826,721
261,402		JPMorgan Chase & Co		8,968,703
63,890	e	M&T Bank Corp		4,506,801
130,344		Northern Trust Corp		8,937,688
217,449	e	TCF Financial Corp		2,615,911
222,011	e	US Bancorp		6,191,887
360,182		Wells Fargo & Co		8,554,322
		TOTAL DEPOSITORY INSTITUTIONS		56,092,558
EATING AND DRINKING PLACES - 1.53%
34,714	*	Chipotle Mexican Grill, Inc (Class A)		2,868,071
175,468		Darden Restaurants, Inc		5,604,448
116,769		McDonald's Corp		6,564,753
		TOTAL EATING AND DRINKING PLACES		15,037,272
ELECTRIC, GAS, AND SANITARY SERVICES - 3.60%
125,958		Exelon Corp		11,331,182
157,028		PPL Corp		8,207,854
182,918		Public Service Enterprise Group, Inc		8,401,424
104,556		Questar Corp		7,427,658
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		35,368,118
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.18%
73,710	*	Apple Computer, Inc		12,342,002
171,161	*	Broadcom Corp (Class A)		4,670,984
462,633	*	Cisco Systems, Inc		10,760,844
21,767	*	First Solar, Inc		5,938,473
109,704		Gamesa Corp Tecnologica S.A.		5,370,747
47,669		Harris Corp		2,406,808
174,066		Honeywell International, Inc		8,752,038
528,366		Intel Corp		11,349,302
191,950	*	Marvell Technology Group Ltd		3,389,837
1,477	*	Nortel Networks Corp		12,141
202,551	e*	PMC - Sierra, Inc		1,549,515

6

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
309,915		Qualcomm, Inc	$	13,750,929
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		80,293,620
ENGINEERING AND MANAGEMENT SERVICES - 0.42%
67,084	*	Shaw Group, Inc		4,145,120
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		4,145,120
FABRICATED METAL PRODUCTS - 0.52%
145,944	e	Pentair, Inc		5,110,959
		TOTAL FABRICATED METAL PRODUCTS		5,110,959
FOOD AND KINDRED PRODUCTS - 4.50%
244,529		Coca-Cola Co		12,710,617
161,256		General Mills, Inc		9,799,527
73,725	e*	Hansen Natural Corp		2,124,754
130,268		Kraft Foods, Inc (Class A)		3,706,125
135,564		PepsiCo, Inc		8,620,515
113,805	*	TreeHouse Foods, Inc		2,760,909
155,576		Unilever plc		4,420,235
		TOTAL FOOD AND KINDRED PRODUCTS		44,142,682
FOOD STORES - 0.20%
68,818		Kroger Co		1,986,776
		TOTAL FOOD STORES		1,986,776
GENERAL BUILDING CONTRACTORS - 0.41%
224,989	e	Amec plc		3,964,608
		TOTAL GENERAL BUILDING CONTRACTORS		3,964,608
GENERAL MERCHANDISE STORES - 2.72%
34,169		Costco Wholesale Corp		2,396,614
154,365	e*	Saks, Inc		1,694,928
275,668		TJX Cos, Inc		8,675,272
247,983		Wal-Mart Stores, Inc		13,936,645
		TOTAL GENERAL MERCHANDISE STORES		26,703,459
HEALTH SERVICES - 2.07%
179,082		Cardinal Health, Inc		9,237,050
174,328	*	Medco Health Solutions, Inc		8,228,282
75,949	e	Mindray Medical International Ltd (ADR)		2,834,417
		TOTAL HEALTH SERVICES		20,299,749
HOLDING AND OTHER INVESTMENT OFFICES - 0.84%
64,260	e	SPDR Trust Series 1		8,223,995
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		8,223,995
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.39%
25,308	e	Alstom RGPT		5,803,263
173,468		Applied Materials, Inc		3,311,504
145,602		Deere & Co		10,502,272
794,675		General Electric Co		21,209,876
249,972		Hewlett-Packard Co		11,051,262
91,321		International Business Machines Corp		10,824,278

7

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
7,400	m,v*	Seagate Technology	$	(0	)
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		62,702,455
INSTRUMENTS AND RELATED PRODUCTS - 3.96%
146,864		Covidien Ltd		7,033,317
167,293		Emerson Electric Co		8,272,639
224,482		Johnson & Johnson		14,443,172
133,765		Medtronic, Inc		6,922,339
44,317	*	Teledyne Technologies, Inc		2,162,226
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		38,833,693
INSURANCE AGENTS, BROKERS AND SERVICE - 0.75%
159,625		AON Corp		7,333,172
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		7,333,172
INSURANCE CARRIERS - 3.06%
205,237	*	ACE Ltd		11,306,506
167,660		Aetna, Inc		6,795,260
94,938		Aflac, Inc		5,962,106
171,545		American International Group, Inc		4,539,081
70,945		XL Capital Ltd (Class A)		1,458,629
		TOTAL INSURANCE CARRIERS		30,061,582
LEGAL SERVICES - 0.86%
123,680	e*	FTI Consulting, Inc		8,467,133
		TOTAL LEGAL SERVICES		8,467,133
METAL MINING - 1.33%
110,914		Anglo American plc		7,789,958
45,363		Freeport-McMoRan Copper & Gold, Inc (Class B)		5,316,090
		TOTAL METAL MINING		13,106,048
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.19%
52,986		Hasbro, Inc		1,892,660
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,892,660
MISCELLANEOUS RETAIL - 0.88%
218,349		CVS Corp		8,640,070
		TOTAL MISCELLANEOUS RETAIL		8,640,070
MOTION PICTURES - 0.47%
209,877	*	Discovery Holding Co (Class A)		4,608,899
		TOTAL MOTION PICTURES		4,608,899
NONDEPOSITORY INSTITUTIONS - 0.57%
284,665	*	Fannie Mae		5,553,814
		TOTAL NONDEPOSITORY INSTITUTIONS		5,553,814
OIL AND GAS EXTRACTION - 3.50%
146,599	*	Cameron International Corp		8,114,255
186,777		Halliburton Co		9,912,255
151,877		Schlumberger Ltd		16,316,146
		TOTAL OIL AND GAS EXTRACTION		34,342,656

8

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
SHARES		COMPANY		VALUE
PETROLEUM AND COAL PRODUCTS - 10.07%
79,357		Apache Corp	$	11,030,623
109,510		Cabot Oil & Gas Corp		7,417,112
195,404		Chevron Corp		19,370,399
79,589		Devon Energy Corp		9,563,414
333,792		Exxon Mobil Corp		29,417,089
34,088		Hess Corp		4,301,565
18,603		LUKOIL (ADR)		1,826,979
131,566		Marathon Oil Corp		6,824,328
56,668		Occidental Petroleum Corp		5,092,186
29,418		Petroleo Brasileiro S.A. (ADR)		2,083,677
17,538		Walter Industries, Inc		1,907,608
		TOTAL PETROLEUM AND COAL PRODUCTS		98,834,980
RAILROAD TRANSPORTATION - 0.93%
120,730		Union Pacific Corp		9,115,115
		TOTAL RAILROAD TRANSPORTATION		9,115,115
SECURITY AND COMMODITY BROKERS - 1.88%
26,307	e	BlackRock, Inc		4,656,339
29,040		Goldman Sachs Group, Inc		5,079,096
115,410	e	Lazard Ltd (Class A)		3,941,251
131,181		Morgan Stanley		4,731,699
		TOTAL SECURITY AND COMMODITY BROKERS		18,408,385
TOBACCO PRODUCTS - 1.76%
350,111		Philip Morris International, Inc		17,291,982
		TOTAL TOBACCO PRODUCTS		17,291,982
TRANSPORTATION EQUIPMENT - 2.28%
77,747		Boeing Co		5,109,533
68,576		Harsco Corp		3,731,220
94,851		Northrop Grumman Corp		6,345,532
127,619		Raytheon Co		7,182,397
		TOTAL TRANSPORTATION EQUIPMENT		22,368,682
WATER TRANSPORTATION - 0.14%
42,589		K-Sea Transportation Partners LP		1,357,311
		TOTAL WATER TRANSPORTATION		1,357,311
WHOLESALE TRADE-NONDURABLE GOODS - 0.30%
50,623		Gazprom (ADR)		2,924,431
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,924,431
		TOTAL COMMON STOCKS		975,446,394
		(Cost $915,992,403)

9

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Growth & Income Fund
PRINCIPAL		ISSUER		VALUE
SHORT-TERM INVESTMENTS - 8.96%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.48%
$      4,660,000		Federal Home Loan Bank (FHLB), 07/01/08	$	4,660,000
				4,660,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 8.48%				83,261,863
83,261,863		State Street Navigator Securities Lending Prime Portfolio		83,261,863
		TOTAL SHORT-TERM INVESTMENTS		87,921,863
		(Cost $87,921,863)
		TOTAL PORTFOLIO - 108.36%		1,063,368,257
		(Cost $1,003,914,266)
		OTHER ASSETS & LIABILITIES, NET - (8.36)%		(82,035,564	)
		NET ASSETS - 100.00%	$	981,332,693
		The following abbreviations are used in portfolio descriptions:
		ADR   -   American Depositary Receipt
		LP       -   Limited Partnership
		plc       -   Public Limited Company
	*	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 June 30, 2008, the unrealized appreciation on investments was $59,453,991, consisting of
		gross unrealized appreciation of $128,124,032 and gross unrealized depreciation of $68,670,041.

10

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INTERNATIONAL EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 102.29%
AMUSEMENT AND RECREATION SERVICES - 0.44%
20,100		Nintendo Co Ltd	$	11,398,169
		TOTAL AMUSEMENT AND RECREATION SERVICES		11,398,169
BUSINESS SERVICES - 0.41%
127		NTT Data Corp		497,199
1,065,768		WPP Group plc		10,184,149
		TOTAL BUSINESS SERVICES		10,681,348
CHEMICALS AND ALLIED PRODUCTS - 10.13%
4,679,356		Dabur India Ltd		8,606,331
1,037,700		Daiichi Sankyo Co Ltd		28,586,959
1,269,218		Lanxess AG.		52,131,705
1,037,097		Reckitt Benckiser Group plc		52,382,056
95,386,000	e	Sinochem Hong Kong Holding Ltd		74,092,801
914,374		SSL International plc		8,109,292
71,436		Syngenta AG.		23,143,308
4,208,000		UBE Industries Ltd		14,905,045
		TOTAL CHEMICALS AND ALLIED PRODUCTS		261,957,497
COMMUNICATIONS - 2.96%
9,543,829		BT Group plc		37,809,889
2,121,276		Deutsche Telekom AG.		34,768,150
163		Nippon Telegraph & Telephone Corp		804,286
369		NTT DoCoMo, Inc		541,227
103,000		Singapore Telecommunications Ltd		274,571
794,674		Vodafone Group plc		2,341,372
		TOTAL COMMUNICATIONS		76,539,495
DEPOSITORY INSTITUTIONS - 9.25%
27,004		Australia & New Zealand Banking Group Ltd		485,332
18,805		Commonwealth Bank of Australia		725,110
17,305		DBS Group Holdings Ltd		240,764
204,054	e	Deutsche Bank AG.		17,614,900
233,612		Julius Baer Holding AG.		15,666,712
97,116		Komercni Banka A.S.		22,620,231
2,577,000		Mitsubishi UFJ Financial Group, Inc		22,774,088
5,825		Mizuho Financial Group, Inc		27,102,756
24,164		National Australia Bank Ltd		613,559
39,000		Oversea-Chinese Banking Corp		234,907
22,913		Societe Generale		1,986,533
2,281		Sumitomo Mitsui Financial Group, Inc		17,153,579
5,333,830	*	UBS A.G.		111,147,629
17,000		United Overseas Bank Ltd		233,381
26,932		Westpac Banking Corp		517,281
		TOTAL DEPOSITORY INSTITUTIONS		239,116,762

11

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 8.19%
13,300		Chubu Electric Power Co, Inc	$	324,865
1,335,771	e	Electricite de France		126,538,608
326,134		Fortum Oyj		16,507,417
4,713,349	e	Iberdrola S.A.		62,799,660
15,200		Kansai Electric Power Co, Inc		356,095
203,700		Tokyo Electric Power Co, Inc		5,244,946
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		211,771,591
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 2.20%
510,000	e	Hosiden Corp		10,876,491
80		Hoya Corp		1,853
39,500		Ibiden Co Ltd		1,438,433
40,000		Matsushita Electric Industrial Co Ltd		855,751
2,500		Murata Manufacturing Co Ltd		117,947
1,218,185		Smiths Group plc		26,247,984
394,200		Sony Corp		17,279,227
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		56,817,686
ENGINEERING AND MANAGEMENT SERVICES - 0.48%
184,943		Tecan Group AG.		12,325,128
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		12,325,128
FOOD AND KINDRED PRODUCTS - 5.66%
2,444,800	e	Asahi Breweries Ltd		45,701,908
1,155,450	e	Groupe Danone		80,851,509
704,400	e	Yakult Honsha Co Ltd		19,843,169
		TOTAL FOOD AND KINDRED PRODUCTS		146,396,586
FOOD STORES - 0.03%
28,757		Woolworths Ltd		673,915
		TOTAL FOOD STORES		673,915
GENERAL BUILDING CONTRACTORS - 1.92%
812,740	e	Vinci S.A.		49,629,030
		TOTAL GENERAL BUILDING CONTRACTORS		49,629,030
HOLDING AND OTHER INVESTMENT OFFICES - 0.94%
188,203		Bellevue Group AG.		10,105,758
3,348,000		Japan Asia Investment Co Ltd		14,032,220
24	e	Nomura Real Estate Office Fund, Inc		180,751
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		24,318,729
HOTELS AND OTHER LODGING PLACES - 2.10%
816,044	e	Accor S.A.		54,209,631
		TOTAL HOTELS AND OTHER LODGING PLACES		54,209,631
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.63%
435,700	e	Canon, Inc		22,428,047
369,100		Daikin Industries Ltd		18,662,746
146,200		Fanuc Ltd		14,297,958
23,220		FUJIFILM Holdings Corp		799,825
684,255		GEA Group AG.		24,159,119

12

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
248,809		Rheinmetall AG	$	17,960,214
532,280		Komatsu Ltd		14,864,509
593,943	e	Krones AG.		50,772,041
52,200	e	Modec, Inc		1,702,884
364,951	e	SKF AB (B Shares)		5,687,817
31,900		Sumitomo Heavy Industries Ltd		216,359
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		171,551,519
INSTRUMENTS AND RELATED PRODUCTS - 1.42%
446,500	e	Phonak Holding AG.		36,849,642
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		36,849,642
INSURANCE CARRIERS - 3.28%
482,441		Allianz AG.		84,862,848
		TOTAL INSURANCE CARRIERS		84,862,848
METAL MINING - 3.37%
174,925		Anglo American plc		12,285,721
51,141		BHP Billiton Ltd		2,176,574
2,847,544		MMC Norilsk Nickel (ADR)		71,734,158
6,853	e	Rio Tinto Ltd		886,690
		TOTAL METAL MINING		87,083,143
MISCELLANEOUS RETAIL - 1.66%
4,200,000		Hutchison Whampoa Ltd		42,354,049
42,796		Origin Energy Ltd		662,121
		TOTAL MISCELLANEOUS RETAIL		43,016,170
NONDEPOSITORY INSTITUTIONS - 1.77%
256,100	e	Deutsche Postbank AG.		22,514,740
9,614	e	Kenedix, Inc		11,797,790
28,476		ORIX Corp		4,078,529
870,629		Tullett Prebon plc		7,423,204
		TOTAL NONDEPOSITORY INSTITUTIONS		45,814,263
OIL AND GAS EXTRACTION - 3.20%
2,778,883		BG Group plc		72,216,568
207,711		Saipem S.p.A.		9,694,763
13,375		Woodside Petroleum Ltd		864,507
		TOTAL OIL AND GAS EXTRACTION		82,775,838
PETROLEUM AND COAL PRODUCTS - 2.83%
5,773,172		BP plc		66,914,868
142,744		Royal Dutch Shell plc (A Shares)		5,851,327
6,481		Total S.A.		551,652
		TOTAL PETROLEUM AND COAL PRODUCTS		73,317,847
PRIMARY METAL INDUSTRIES - 0.40%
81,000		Sumitomo Metal Industries Ltd		356,628
28,904		Vallourec		10,108,577
		TOTAL PRIMARY METAL INDUSTRIES		10,465,205
RAILROAD TRANSPORTATION - 1.28%
1,768		Central Japan Railway Co		19,487,711

13

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY		VALUE
157		East Japan Railway Co	$	1,278,813
1,203,481		Firstgroup plc		12,410,770
		TOTAL RAILROAD TRANSPORTATION		33,177,294
REAL ESTATE - 0.71%
18		City Developments Ltd		144
6,385		Risa Partners, Inc		9,749,564
411,000		Sumitomo Realty & Development Co Ltd		8,176,054
20,542	e	Westfield Group		320,981
		TOTAL REAL ESTATE		18,246,743
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 7.40%
2,274,030		Bayer AG.		191,332,721
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		191,332,721
SECURITY AND COMMODITY BROKERS - 5.63%
1,032,686		Credit Suisse Group		47,004,756
1,600,100		Hong Kong Exchanges and Clearing Ltd		23,439,406
5,162,240		Man Group plc		63,771,256
2,243,000		Singapore Exchange Ltd		11,441,981
		TOTAL SECURITY AND COMMODITY BROKERS		145,657,399
STONE, CLAY, AND GLASS PRODUCTS - 3.70%
18,868,000	e	Nippon Sheet Glass Co Ltd		93,514,808
3,000,000	*	Zhejiang Glass Co Ltd		2,195,043
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		95,709,851
TOBACCO PRODUCTS - 2.00%
60,054		British American Tobacco plc		2,071,507
52,395,919		Huabao International Holdings Ltd		49,746,418
		TOTAL TOBACCO PRODUCTS		51,817,925
TRANSPORTATION BY AIR - 0.03%
35,476		SABMiller plc		810,520
		TOTAL TRANSPORTATION BY AIR		810,520
TRANSPORTATION EQUIPMENT - 6.11%
13,860		Denso Corp		477,357
6,182,969	e	Fiat S.p.A.		100,639,638
885,400	e	Honda Motor Co Ltd		30,215,747
564,100		Toyota Motor Corp		26,627,766
		TOTAL TRANSPORTATION EQUIPMENT		157,960,508
TRUCKING AND WAREHOUSING - 3.78%
3,743,461		Deutsche Post AG.		97,738,392
		TOTAL TRUCKING AND WAREHOUSING		97,738,392
WATER TRANSPORTATION - 0.09%
31,079		Hamburger Hafen und Logistik AG.		2,414,027
		TOTAL WATER TRANSPORTATION		2,414,027
WHOLESALE TRADE-DURABLE GOODS - 0.21%
77,568	e	Kloeckner & Co AG.		4,439,933
10		Mitsubishi Corp		330

14

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Fund
SHARES		COMPANY			VALUE
31,000		Mitsui & Co Ltd		$	684,203
21,250	e	Sumitomo Corp			279,188
		TOTAL WHOLESALE TRADE-DURABLE GOODS			5,403,654
WHOLESALE TRADE-NONDURABLE GOODS - 2.08%
11,070,426		Foster's Group Ltd			53,818,123
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS			53,818,123
		TOTAL COMMON STOCKS			2,645,659,199
		(Cost $2,782,786,143)
SHORT TERM INVESTMENTS - 11.27%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 11.27%
291,432,511		State Street Navigator Securities Lending Prime Portfolio			291,432,511
					291,432,511
		TOTAL SHORT-TERM INVESTMENTS			291,432,511
		(Cost $291,432,511)
		TOTAL PORTFOLIO - 113.56%			2,937,091,710
		(Cost $3,074,218,654)
		OTHER ASSETS & LIABILITIES, NET - (13.56)%			(350,741,815	)
		NET ASSETS - 100.00%		$	2,586,349,895
		The following abbreviations are used in portfolio descriptions:
		ADR   -	American Depositary Receipt
		plc       -	Public Limited Company
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
		At June 30, 2008, the unrealized depreciation on investments was $137,126,944, consisting of
		gross unrealized appreciation of $2,645,659,199 and gross unrealized depreciation of $2,782,786,143.

15

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SUMMARY OF MARKET VALUES BY COUNTRY
INTERNATIONAL EQUITY FUND (unaudited)
June 30, 2008
			% OF
			MARKET
COUNTRY	VALUE		VALUE
DOMESTIC
UNITED STATES OF AMERICA	$	291,432,511	9.92	%
TOTAL DOMESTIC		291,432,511	9.92
FOREIGN
AUSTRALIA		61,744,193	2.10
CHINA		126,034,263	4.29
CZECH REPUBLIC		22,620,231	0.77
FINLAND		16,507,416	0.56
FRANCE		323,875,539	11.03
GERMANY		600,708,789	20.45
HONG KONG		65,793,455	2.24
INDIA		8,606,332	0.29
ITALY		110,334,401	3.76
JAPAN		519,713,781	17.70
RUSSIA		71,734,158	2.44
SINGAPORE		12,425,747	0.42
SPAIN		62,799,660	2.14
SWEDEN		5,687,817	0.19
SWITZERLAND		256,242,934	8.73
UNITED KINGDOM		380,830,483	12.97
TOTAL FOREIGN		2,645,659,199	90.08
TOTAL PORTFOLIO	$	2,937,091,710	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)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 101.01%
AMUSEMENT AND RECREATION SERVICES - 2.09%
22,000		Nintendo Co Ltd	$	12,475,608
		TOTAL AMUSEMENT AND RECREATION SERVICES		12,475,608
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.40%
115,643		Lowe's Cos, Inc		2,399,592
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		2,399,592
BUSINESS SERVICES - 13.10%
183,673	*	Adobe Systems, Inc		7,234,879
261,083	*	eBay, Inc		7,135,398
1,613,274		Experian Group Ltd		11,931,710
33,723	*	Google, Inc (Class A)		17,752,462
279,448	*	Intuit, Inc		7,704,381
26,767	e	Mastercard, Inc (Class A)		7,107,174
64,893		Omnicom Group, Inc		2,912,398
363,482	*	Oracle Corp		7,633,122
20,570	e*	Sohu.com, Inc		1,448,951
30,099		Visa, Inc (Class A)		2,447,350
241,682	*	Yahoo!, Inc		4,993,150
		TOTAL BUSINESS SERVICES		78,300,975
CHEMICALS AND ALLIED PRODUCTS - 19.95%
174,501		Abbott Laboratories		9,243,318
63,212		Air Products & Chemicals, Inc		6,249,138
429,998		Avon Products, Inc		15,488,528
38,260		Celanese Corp (Series A)		1,746,952
153,171		Colgate-Palmolive Co		10,584,116
118,677	*	Genentech, Inc		9,007,584
351,348	*	Gilead Sciences, Inc		18,603,877
248,037		Merck & Co, Inc		9,348,515
146,298		Monsanto Co		18,497,919
104,176	e	Mylan Laboratories, Inc		1,257,404
69,211		Praxair, Inc		6,522,445
277,785		Teva Pharmaceutical Industries Ltd (ADR)		12,722,553
		TOTAL CHEMICALS AND ALLIED PRODUCTS		119,272,349
COAL MINING - 1.81%
48,813		Peabody Energy Corp		4,297,985
110,615	e	Sasol Ltd (ADR)		6,519,648
		TOTAL COAL MINING		10,817,633
COMMUNICATIONS - 1.55%
219,617	*	American Tower Corp (Class A)		9,278,818
		TOTAL COMMUNICATIONS		9,278,818

17

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
DEPOSITORY INSTITUTIONS - 1.43%
347,032		Western Union Co	$	8,578,631
		TOTAL DEPOSITORY INSTITUTIONS		8,578,631
EATING AND DRINKING PLACES - 0.57%
97,137		Yum! Brands, Inc		3,408,537
		TOTAL EATING AND DRINKING PLACES		3,408,537
ELECTRIC, GAS, AND SANITARY SERVICES - 0.15%
12,903		Questar Corp		916,629
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		916,629
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 12.31%
122,538		Altera Corp		2,536,537
69,713	*	Apple Computer, Inc		11,672,745
386,255	*	Cisco Systems, Inc		8,984,291
446,851		Intel Corp		9,598,359
372,676	*	Marvell Technology Group Ltd		6,581,458
122,681	*	Nvidia Corp		2,296,588
430,916		Qualcomm, Inc		19,119,743
109,322	*	Research In Motion Ltd		12,779,742
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		73,569,463
ENGINEERING AND MANAGEMENT SERVICES - 3.84%
218,183	*	Celgene Corp		13,935,348
78,590	*	Jacobs Engineering Group, Inc		6,342,213
31,219	*	Shaw Group, Inc		1,929,022
18,406	*	URS Corp		772,500
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		22,979,083
FOOD AND KINDRED PRODUCTS - 1.01%
126,183		H.J. Heinz Co		6,037,857
		TOTAL FOOD AND KINDRED PRODUCTS		6,037,857
GENERAL MERCHANDISE STORES - 3.45.%
211,902		Macy's, Inc		4,115,137
305,381		TJX Cos, Inc		9,610,340
123,066		Wal-Mart Stores, Inc		6,916,309
		TOTAL GENERAL MERCHANDISE STORES		20,641,786
HOLDING AND OTHER INVESTMENT OFFICES - 0.35%
23,542	*	Affiliated Managers Group, Inc		2,120,193
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		2,120,193
HOTELS AND OTHER LODGING PLACES - 0.25%
43,318	e*	MGM Mirage		1,468,047
		TOTAL HOTELS AND OTHER LODGING PLACES		1,468,047
INDUSTRIAL MACHINERY AND EQUIPMENT - 2.52%
331,587		Applied Materials, Inc		6,329,996
183,334	*	EMC Corp		2,693,176
136,399		Hewlett-Packard Co		6,030,200
6,200	m,v*	Seagate Technology		(0	)
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		15,053,372

18

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY		VALUE
INSTRUMENTS AND RELATED PRODUCTS - 9.17%
237,148	*	Agilent Technologies, Inc	$	8,428,240
183,429		Allergan, Inc		9,547,479
269,204		Emerson Electric Co		13,312,138
127,112	e*	Flir Systems, Inc		5,156,934
339,047	e*	Hologic, Inc		7,391,225
27,898	*	Intuitive Surgical, Inc		7,515,721
53,090		Roper Industries, Inc		3,497,569
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		54,849,306
INSURANCE CARRIERS - 1.79%
53,124	*	ACE Ltd		2,926,601
123,954		Aflac, Inc		7,784,311
		TOTAL INSURANCE CARRIERS		10,710,912
METAL MINING - 1.38%
117,241		Anglo American plc		8,234,330
		TOTAL METAL MINING		8,234,330
MISCELLANEOUS RETAIL - 5.52%
156,251	*	Amazon.com, Inc		11,457,886
306,440		CVS Corp		12,125,831
396,229		Staples, Inc		9,410,439
		TOTAL MISCELLANEOUS RETAIL		32,994,156
OIL AND GAS EXTRACTION - 9.25%
32,950		Chesapeake Energy Corp		2,173,382
490,296	*	Denbury Resources, Inc		17,895,804
266,210	e*	Nabors Industries Ltd		13,105,518
101,702	*	National Oilwell Varco, Inc		9,023,001
49,622		Petroleo Brasileiro S.A (ADR)		2,875,595
44,201		Schlumberger Ltd		4,748,513
79,660		XTO Energy, Inc		5,457,507
		TOTAL OIL AND GAS EXTRACTION		55,279,320
PETROLEUM AND COAL PRODUCTS - 2.91%
48,761		Apache Corp		6,777,779
48,133		Devon Energy Corp		5,783,661
53,617		Occidental Petroleum Corp		4,818,024
		TOTAL PETROLEUM AND COAL PRODUCTS		17,379,464
PRIMARY METAL INDUSTRIES - 1.32%
48,360		Precision Castparts Corp		4,660,453
9,247		Vallourec		3,233,947
		TOTAL PRIMARY METAL INDUSTRIES		7,894,400
RAILROAD TRANSPORTATION - 0.53%
41,649		Union Pacific Corp		3,144,500
		TOTAL RAILROAD TRANSPORTATION		3,144,500
SECURITY AND COMMODITY BROKERS - 3.17%
559,435		Charles Schwab Corp		11,490,795

19

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Fund
SHARES		COMPANY			VALUE
65,407	*	IntercontinentalExchange, Inc		$	7,456,398
		TOTAL SECURITY AND COMMODITY BROKERS			18,947,193
TRANSPORTATION EQUIPMENT - 1.19%
101,621		Boeing Co			6,678,532
23,210	*	Spirit Aerosystems Holdings, Inc (Class A)			445,168
		TOTAL TRANSPORTATION EQUIPMENT			7,123,700
		TOTAL COMMON STOCKS			603,875,854
		(Cost $587,740,915)
SHORT-TERM INVESTMENTS - 5.45%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.45%
32,600,036		State Street Navigator Securities Lending Prime Portfolio			32,600,036
					32,600,036
		TOTAL SHORT-TERM INVESTMENTS			32,600,036
		(Cost $32,600,036)
		TOTAL PORTFOLIO - 106.46%			636,475,890
		(Cost $620,340,951)
		OTHER ASSETS & LIABILITIES, NET - (6.46)%			(38,595,777	)
		NET ASSETS - 100.00%		$	597,880,113
		The following abbreviations are used in portfolio descriptions:
		ADR  -	American Depositary Receipt
		plc      -	Public Limited Company
	*	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 June 30, 2008, the unrealized appreciation on investments was $16,134,939, consisting of
		gross unrealized appreciation of $48,649,300 and gross unrealized depreciation of $32,514,361.

20

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP VALUE FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 101.44%
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.28%
221,000	e	Pilgrim's Pride Corp	$	2,870,790
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		2,870,790
AMUSEMENT AND RECREATION SERVICES - 0.42%
138,464		Walt Disney Co		4,320,077
		TOTAL AMUSEMENT AND RECREATION SERVICES		4,320,077
APPAREL AND ACCESSORY STORES - 1.39%
125,194	*	AnnTaylor Stores Corp		2,999,648
434,894		Gap, Inc		7,249,683
105,236	*	Kohl's Corp		4,213,649
		TOTAL APPAREL AND ACCESSORY STORES		14,462,980
APPAREL AND OTHER TEXTILE PRODUCTS - 0.03%
4,023	e	Liz Claiborne, Inc		56,925
3,049		VF Corp		217,028
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		273,953
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.16%
406,277		Home Depot, Inc		9,515,007
122,708		Lowe's Cos, Inc		2,546,191
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		12,061,198
BUSINESS SERVICES - 2.07%
98,430	*	Affiliated Computer Services, Inc (Class A)		5,265,021
89,844	*	Autonomy Corp plc		1,610,516
115,111		CA, Inc		2,657,913
162,019	e*	Cavium Networks, Inc		3,402,399
106,277	*	Oracle Corp		2,231,817
17,008,045		Solomon Systech International Ltd		818,208
117,901	*	Symantec Corp		2,281,384
39,105		Visa, Inc (Class A)		3,179,628
		TOTAL BUSINESS SERVICES		21,446,886
CHEMICALS AND ALLIED PRODUCTS - 11.46%
256,507		Abbott Laboratories		13,587,176
73,066		Akzo Nobel NV		5,000,170
168,630		Alberto-Culver Co		4,429,910
172,785	*	Amgen, Inc		8,148,541
107,757		Avon Products, Inc		3,881,407
104,953		Celanese Corp (Series A)		4,792,154
189,735		Clorox Co		9,904,167
46,462		Colgate-Palmolive Co		3,210,524
150,995		Dow Chemical Co		5,271,235
222,326		Du Pont (E.I.) de Nemours & Co		9,535,562

21

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
50,591	*	Genentech, Inc	$	3,839,857
474,949	e*	Keryx Biopharmaceuticals, Inc		232,725
431,204		Merck & Co, Inc		16,252,079
579,291	e	Mylan Laboratories, Inc		6,992,042
652,164		Pfizer, Inc		11,393,305
36,429		PPG Industries, Inc		2,089,932
60,000		Procter & Gamble Co		3,648,600
291,469	e*	Verasun Energy Corp		1,203,767
116,137		Wyeth		5,569,931
		TOTAL CHEMICALS AND ALLIED PRODUCTS		118,983,084
COAL MINING - 0.30%
34,822		Peabody Energy Corp		3,066,077
		TOTAL COAL MINING		3,066,077
COMMUNICATIONS - 5.78%
457,001		AT&T, Inc		15,396,364
407,600		Comcast Corp (Class A)		7,732,172
8,912	e	Fairpoint Communications, Inc		64,256
726,569	*	SONAECOM - SGPS S.A.		2,413,733
728,743		Sprint Nextel Corp		6,923,058
155,946	e*	Time Warner Cable, Inc (Class A)		4,129,450
15,434,995	v*	True Corp PCL		1,849,413
606,602		Verizon Communications, Inc		21,473,711
		TOTAL COMMUNICATIONS		59,982,157
DEPOSITORY INSTITUTIONS - 10.72%
647,325		AMMB Holdings BHD		631,291
80,809		Astoria Financial Corp		1,622,645
551,643		Bank of America Corp		13,167,718
75,803		Bank of New York Mellon Corp		2,867,627
42,700	e	Bank of the Ryukyus Ltd		416,915
55,323	e	BB&T Corp		1,259,705
953,880		Citigroup, Inc		15,987,029
546,898	e	First Horizon National Corp		4,063,452
701,568		JPMorgan Chase & Co		24,070,823
38,937	e	M&T Bank Corp		2,746,616
1,333,640	e	National City Corp		6,361,463
76,332		PNC Financial Services Group, Inc		4,358,557
79,398		SunTrust Banks, Inc		2,875,796
823,224	e	TCF Financial Corp		9,903,385
166,977		US Bancorp		4,656,989
683,038		Wells Fargo & Co		16,222,152
		TOTAL DEPOSITORY INSTITUTIONS		111,212,163
EATING AND DRINKING PLACES - 1.06%
345,508		Darden Restaurants, Inc		11,035,525
		TOTAL EATING AND DRINKING PLACES		11,035,525
ELECTRIC, GAS, AND SANITARY SERVICES - 6.19%
636,174	*	Allied Waste Industries, Inc		8,028,516
301,940	e	CMS Energy Corp		4,498,906
16,228		Dominion Resources, Inc		770,668
75,004		Exelon Corp		6,747,360

22

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
46,963		FirstEnergy Corp	$	3,866,464
122,961		FPL Group, Inc		8,063,782
6,133		MDU Resources Group, Inc		213,796
100,576		PG&E Corp		3,991,861
262,039		PPL Corp		13,696,778
44,000		Progress Energy, Inc		1,840,520
139,434		Public Service Enterprise Group, Inc		6,404,204
84,447		Questar Corp		5,999,115
3,632	e	Southern Union Co		98,137
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		64,220,107
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 2.41%
77,502	e*	Ciena Corp		1,795,721
59,636		Honeywell International, Inc		2,998,498
187,217	*	Marvell Technology Group Ltd		3,306,252
653,935		Maxim Integrated Products, Inc		13,830,725
69,202		Qualcomm, Inc		3,070,493
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		25,001,689
ENGINEERING AND MANAGEMENT SERVICES - 1.48%
408	e*	Affymax, Inc		6,491
203,461	e*	Genpact Ltd		3,035,638
5,530		KBR, Inc		193,052
147,086	*	SAIC, Inc		3,060,860
80,661	*	Shaw Group, Inc		4,984,043
96,110	*	URS Corp		4,033,737
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		15,313,821
FABRICATED METAL PRODUCTS - 1.00%
192,365	*	Crown Holdings, Inc		4,999,566
113,420		Illinois Tool Works, Inc		5,388,584
		TOTAL FABRICATED METAL PRODUCTS		10,388,150
FOOD AND KINDRED PRODUCTS - 3.59%
72,451		Archer Daniels Midland Co		2,445,221
96,860		General Mills, Inc		5,886,182
103,168	e	Hershey Co		3,381,847
207,289		Kraft Foods, Inc (Class A)		5,897,372
49,800		Molson Coors Brewing Co (Class B)		2,705,634
190,084		PepsiCo, Inc		12,087,442
328,024		Tyson Foods, Inc (Class A)		4,900,679
		TOTAL FOOD AND KINDRED PRODUCTS		37,304,377
FOOD STORES - 0.12%
43,645		Kroger Co		1,260,031
		TOTAL FOOD STORES		1,260,031
FORESTRY - 0.60%
147,673		Rayonier, Inc		6,270,196
		TOTAL FORESTRY		6,270,196
FURNITURE AND FIXTURES - 0.42%
278,864		Masco Corp		4,386,531
		TOTAL FURNITURE AND FIXTURES		4,386,531

23

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
GENERAL BUILDING CONTRACTORS - 0.24%
112,268	e	Ryland Group, Inc	$	2,448,565
		TOTAL GENERAL BUILDING CONTRACTORS		2,448,565
GENERAL MERCHANDISE STORES - 1.36%
68,808		JC Penney Co, Inc		2,497,042
324,556		Macy's, Inc		6,302,877
94,905		Wal-Mart Stores, Inc		5,333,661
		TOTAL GENERAL MERCHANDISE STORES		14,133,580
HEALTH SERVICES - 0.57%
354,870	*	Healthsouth Corp		5,901,488
		TOTAL HEALTH SERVICES		5,901,488
HOLDING AND OTHER INVESTMENT OFFICES - 1.58%
422,163	e	Blackstone Group LP		7,687,588
23,083	e	Boston Properties, Inc		2,082,548
11	e	Cross Timbers Royalty Trust		662
60,167	e	Plum Creek Timber Co, Inc		2,569,733
29,193		Simon Property Group, Inc		2,624,159
15,774		Vornado Realty Trust		1,388,112
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		16,352,802
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.60%
555,419	*	Brocade Communications Systems, Inc		4,576,653
1,678,576		General Electric Co		44,801,193
152,248		International Game Technology		3,803,155
70,001	e*	Riverbed Technology, Inc		960,414
175,238	*	Verigy Ltd		3,979,655
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		58,121,070
INSTRUMENTS AND RELATED PRODUCTS - 2.58%
52,501	*	Agilent Technologies, Inc		1,865,886
181,161		Covidien Ltd		8,675,800
61,780	*	Eagle Test Systems, Inc		691,936
66,000	*	Hologic, Inc		1,438,800
147,590		Johnson & Johnson		9,495,941
40,139	*	St. Jude Medical, Inc		1,640,882
26,002	*	Thermo Electron Corp		1,449,091
22,994	*	Zimmer Holdings, Inc		1,564,742
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		26,823,078
INSURANCE AGENTS, BROKERS AND SERVICE - 0.49%
79,345		Hartford Financial Services Group, Inc		5,123,307
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		5,123,307
INSURANCE CARRIERS - 6.61%
42,348	*	ACE Ltd		2,332,951
1,248		Aegon NV		16,361
293,320		Aetna, Inc		11,888,260
52,558		Allstate Corp		2,396,119
268,396		American International Group, Inc		7,101,758
14,569		Aspen Insurance Holdings Ltd		344,848

24

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
69,386		Genworth Financial, Inc (Class A)	$	1,235,765
118,833	*	Health Net, Inc		2,859,122
221,780		Lincoln National Corp		10,051,070
80,359	e	Max Re Capital Ltd		1,714,057
111,682	e	MGIC Investment Corp		682,377
110,555		Platinum Underwriters Holdings Ltd		3,605,199
149,547		Principal Financial Group		6,276,488
24,049		Prudential Financial, Inc		1,436,687
300,005		Travelers Cos, Inc		13,020,217
177,329		XL Capital Ltd (Class A)		3,645,884
		TOTAL INSURANCE CARRIERS		68,607,163
METAL MINING - 1.44%
81,088		Anglo American plc		5,695,153
79,169		Freeport-McMoRan Copper & Gold, Inc (Class B)		9,277,815
		TOTAL METAL MINING		14,972,968
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.02%
2,908	e*	Intrepid Potash, Inc		191,288
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		191,288
MISCELLANEOUS RETAIL - 0.16%
41,133		CVS Corp		1,627,633
		TOTAL MISCELLANEOUS RETAIL		1,627,633
MOTION PICTURES - 1.05%
340,020		News Corp (Class A)		5,113,901
388,869		Time Warner, Inc		5,755,261
		TOTAL MOTION PICTURES		10,869,162
NONDEPOSITORY INSTITUTIONS - 1.06%
67,765	e	Capital One Financial Corp		2,575,748
433,029	*	Fannie Mae		8,448,396
		TOTAL NONDEPOSITORY INSTITUTIONS		11,024,144
OIL AND GAS EXTRACTION - 2.60%
26,170		Anadarko Petroleum Corp		1,958,563
10,058		Baker Hughes, Inc		878,466
75,031		BJ Services Co		2,396,490
84,539	e	Chesapeake Energy Corp		5,576,192
12,780		Equitable Resources, Inc		882,587
66,183		Halliburton Co		3,512,332
305,000	*	Integra Group Holdings (GDR)		3,355,867
2,071	*	Plains Exploration & Production Co		151,121
120,888		XTO Energy, Inc		8,282,037
		TOTAL OIL AND GAS EXTRACTION		26,993,655
PAPER AND ALLIED PRODUCTS - 0.83%
41,013		Kimberly-Clark Corp		2,451,757
125,771		MeadWestvaco Corp		2,998,381
11,930	e	Mondi Ltd		73,617
10,183	*	Smurfit-Stone Container Corp		41,445
99,500		Sonoco Products Co		3,079,525
		TOTAL PAPER AND ALLIED PRODUCTS		8,644,725

25

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY		VALUE
PETROLEUM AND COAL PRODUCTS - 14.54%
114,051		Apache Corp	$	15,853,089
111,726		Cabot Oil & Gas Corp		7,567,202
439,132		Chevron Corp		43,531,155
112,564		ConocoPhillips		10,624,916
43,415		Devon Energy Corp		5,216,746
66,593		EOG Resources, Inc		8,737,002
262,674		Exxon Mobil Corp		23,149,460
28,893		LUKOIL (ADR)		2,837,548
270,798		Marathon Oil Corp		14,046,292
95,458		Occidental Petroleum Corp		8,577,856
116,431		Petroleo Brasileiro S.A. (ADR)		8,246,808
39,555	e*	SandRidge Energy, Inc		2,554,462
		TOTAL PETROLEUM AND COAL PRODUCTS		150,942,536
PIPELINES, EXCEPT NATURAL GAS - 0.03%
12,081		Spectra Energy Corp		347,208
		TOTAL PIPELINES, EXCEPT NATURAL GAS		347,208
PRIMARY METAL INDUSTRIES - 0.78%
23,268		Vallourec		8,137,503
		TOTAL PRIMARY METAL INDUSTRIES		8,137,503
RAILROAD TRANSPORTATION - 0.47%
64,146		Union Pacific Corp		4,843,023
		TOTAL RAILROAD TRANSPORTATION		4,843,023
REAL ESTATE - 0.19%
1,640,472	*	Unitech Corporate Parks plc		1,958,649
		TOTAL REAL ESTATE		1,958,649
SECURITY AND COMMODITY BROKERS - 4.02%
334,900		Charles Schwab Corp		6,878,846
75,557		Franklin Resources, Inc		6,924,799
80,807		Goldman Sachs Group, Inc		14,133,144
125,612		Invesco Ltd		3,012,176
96,530		Janus Capital Group, Inc		2,555,149
92,436		Lehman Brothers Holdings, Inc		1,831,157
98,535		Merrill Lynch & Co, Inc		3,124,545
90,967		Morgan Stanley		3,281,180
		TOTAL SECURITY AND COMMODITY BROKERS		41,740,996
TOBACCO PRODUCTS - 0.84%
175,842		Philip Morris International, Inc		8,684,836
		TOTAL TOBACCO PRODUCTS		8,684,836
TRANSPORTATION BY AIR - 0.02%
49,105	e	UAL Corp		256,328
		TOTAL TRANSPORTATION BY AIR		256,328
TRANSPORTATION EQUIPMENT - 1.00%
341,085	e*	Ford Motor Co		1,640,619

26

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Fund
SHARES		COMPANY			VALUE
130,245		Northrop Grumman Corp		$	8,713,390
		TOTAL TRANSPORTATION EQUIPMENT			10,354,009
TRANSPORTATION SERVICES - 0.42%
221,053		UTI Worldwide, Inc			4,410,007
		TOTAL TRANSPORTATION SERVICES			4,410,007
WATER TRANSPORTATION - 0.63%
289,338	e	Royal Caribbean Cruises Ltd			6,501,425
		TOTAL WATER TRANSPORTATION			6,501,425
WHOLESALE TRADE-NONDURABLE GOODS - 1.83%
273,149		Cardinal Health, Inc			14,089,025
104,885	*	Dean Foods Co			2,057,844
48,550		Gazprom (ADR)			2,804,676
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS			18,951,545
		TOTAL COMMON STOCKS			1,052,822,485
		(Cost $1,191,917,551)
SHORT-TERM INVESTMENTS - 8.14%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 8.14%
84,478,508		State Street Navigator Securities Lending Prime Portfolio			84,478,508
					84,478,508
		TOTAL SHORT-TERM INVESTMENTS			84,478,508
		(Cost $84,478,508)
		TOTAL PORTFOLIO - 109.58%			1,137,300,993
		(Cost $1,276,396,059)
		OTHER ASSETS & LIABILITIES, NET - (9.58)%			(99,429,463	)
		NET ASSETS - 100.00%		$	1,037,871,530
		The following abbreviations are used in portfolio descriptions:
		ADR  -	American Depositary Receipt
		GDR  -	Global Depositary Receipt
		LP      -	Limited Partnership
		plc      -	Public Limited Company
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
	v	Security valued at fair value.
		At June 30, 2008, the unrealized depreciation on investments was $139,095,066, consisting of
		gross unrealized appreciation of $62,582,101 and gross unrealized depreciation of $201,677,167.

27

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP GROWTH FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.31%
AMUSEMENT AND RECREATION SERVICES - 1.55%
167,849	*	Activision, Inc	$	5,718,615
181,708	e	World Wrestling Entertainment, Inc		2,811,023
		TOTAL AMUSEMENT AND RECREATION SERVICES		8,529,638
APPAREL AND ACCESSORY STORES - 0.97%
197,513	e*	Hanesbrands, Inc		5,360,503
		TOTAL APPAREL AND ACCESSORY STORES		5,360,503
APPAREL AND OTHER TEXTILE PRODUCTS - 1.49%
71,425		Guess ?, Inc		2,674,866
61,354		Phillips-Van Heusen Corp		2,246,784
52,516	e	Polo Ralph Lauren Corp		3,296,954
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		8,218,604
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.97%
125,314	*	Copart, Inc		5,365,946
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		5,365,946
BUSINESS SERVICES - 9.22%
54,888	e*	Alliance Data Systems Corp		3,103,916
235,594	*	Autonomy Corp plc		4,223,186
191,262		Aveva Group plc		5,841,582
270,037	e*	Cavium Networks, Inc		5,670,777
59,458	e*	Cerner Corp		2,686,312
97,235	*	Citrix Systems, Inc		2,859,681
51,050	*	Cognizant Technology Solutions Corp (Class A)		1,659,636
125,960	*	Electronic Arts, Inc		5,596,403
51,008	*	Juniper Networks, Inc		1,131,357
520,988	e	Michael Page International plc		2,413,217
49,289		Omnicom Group, Inc		2,212,090
147,214	*	Salesforce.com, Inc		10,044,411
113,410	*	Sybase, Inc		3,336,522
		TOTAL BUSINESS SERVICES		50,779,090
CHEMICALS AND ALLIED PRODUCTS - 8.78%
155,999		Avon Products, Inc		5,619,084
105,696		Celanese Corp (Series A)		4,826,079
83,400	e*	Cephalon, Inc		5,561,946
90,213		Church & Dwight Co, Inc		5,083,503
219,079		Ecolab, Inc		9,418,206
75,581	*	Forest Laboratories, Inc		2,625,684
142,091	*	Hospira, Inc		5,699,270
56,694	e	Shire plc (ADR)		2,785,376
243,328	*	VCA Antech, Inc		6,759,652
		TOTAL CHEMICALS AND ALLIED PRODUCTS		48,378,800

28

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
COAL MINING - 3.76%
37,030		Arch Coal, Inc	$	2,761,092
94,804		Consol Energy, Inc		10,653,126
82,742	e	Peabody Energy Corp		7,285,433
		TOTAL COAL MINING		20,699,651
COMMUNICATIONS - 1.57%
137,923	*	American Tower Corp (Class A)		5,827,247
73,374	*	Crown Castle International Corp		2,841,775
		TOTAL COMMUNICATIONS		8,669,022
EATING AND DRINKING PLACES - 1.25%
196,721		Yum! Brands, Inc		6,902,940
		TOTAL EATING AND DRINKING PLACES		6,902,940
ELECTRIC, GAS, AND SANITARY SERVICES - 4.35%
312,063	*	Covanta Holding Corp		8,328,961
149,014	e*	NRG Energy, Inc		6,392,701
176,554		PPL Corp		9,228,478
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		23,950,140
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 10.34%
168,136		Analog Devices, Inc		5,341,681
84,691	*	Avnet, Inc		2,310,370
105,730	*	Broadcom Corp (Class A)		2,885,372
10,626	*	First Solar, Inc		2,898,985
150,271		Harris Corp		7,587,183
117,193	e*	JA Solar Holdings Co Ltd (ADR)		1,974,702
57,341		L-3 Communications Holdings, Inc		5,210,577
572,328	*	Marvell Technology Group Ltd		10,107,313
180,155		Maxim Integrated Products, Inc		3,810,278
115,190	*	MEMC Electronic Materials, Inc		7,088,793
212,446	*	Nvidia Corp		3,976,989
413,712	e*	ON Semiconductor Corp		3,793,739
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		56,985,982
ENGINEERING AND MANAGEMENT SERVICES - 2.88%
132,004	*	Celgene Corp		8,431,095
78,369	*	McDermott International, Inc		4,850,257
102,068	e*	Savient Pharmaceuticals, Inc		2,582,320
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		15,863,672
FOOD AND KINDRED PRODUCTS - 1.73%
194,645	e*	Darling International, Inc		3,215,535
87,243	e*	Hansen Natural Corp		2,514,343
106,874		McCormick & Co, Inc		3,811,127
		TOTAL FOOD AND KINDRED PRODUCTS		9,541,005
FURNITURE AND HOME FURNISHINGS STORES - 0.83%
112,744	*	GameStop Corp (Class A)		4,554,858
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		4,554,858

29

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
GENERAL MERCHANDISE STORES - 2.44%
64,187		Costco Wholesale Corp	$	4,502,076
283,608		TJX Cos, Inc		8,925,144
		TOTAL GENERAL MERCHANDISE STORES		13,427,220
HEALTH SERVICES - 1.40%
94,093		Cigna Corp		3,329,951
69,774	*	Express Scripts, Inc		4,376,225
		TOTAL HEALTH SERVICES		7,706,176
HOLDING AND OTHER INVESTMENT OFFICES - 3.28%
21,703	*	Affiliated Managers Group, Inc		1,954,572
140,307	e	Financial Select Sector SPDR Fund		2,842,620
76,465	e	iShares Russell Midcap Growth Index Fund		8,096,114
110,919		WABCO Holdings, Inc		5,153,297
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		18,046,603
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.89%
219,348	*	AuthenTec, Inc		2,285,606
78,025		Flowserve Corp		10,666,018
94,728		ITT Industries, Inc		5,999,124
53,121		Joy Global, Inc		4,064,187
146,404	e	Manitowoc Co, Inc		4,762,522
320,648	*	Netezza Corp		3,681,039
71,104	e*	Riverbed Technology, Inc		975,547
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		32,434,043
INSTRUMENTS AND RELATED PRODUCTS - 8.26%
67,326		Allergan, Inc		3,504,318
28,947		Bard (C.R.), Inc		2,545,889
57,689	e*	Flir Systems, Inc		2,340,443
203,880	e*	Hologic, Inc		4,444,584
106,400	e*	Illumina, Inc		9,268,504
12,703	*	Intuitive Surgical, Inc		3,422,188
81,471	*	NuVasive, Inc		3,638,495
87,847		Rockwell Collins, Inc		4,213,142
154,892	*	St. Jude Medical, Inc		6,331,985
162,281	e*	Trimble Navigation Ltd		5,793,432
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		45,502,980
INSURANCE CARRIERS - 0.20%
46,045	*	Health Net, Inc		1,107,843
		TOTAL INSURANCE CARRIERS		1,107,843
LEGAL SERVICES - 0.96%
77,654	e*	FTI Consulting, Inc		5,316,193
		TOTAL LEGAL SERVICES		5,316,193
METAL MINING - 1.51%
24,419		Cleveland-Cliffs, Inc		2,901,095
46,002		Freeport-McMoRan Copper & Gold, Inc (Class B)		5,390,974
		TOTAL METAL MINING		8,292,069
MISCELLANEOUS RETAIL - 0.42%
130,940	e*	Dick's Sporting Goods, Inc		2,322,876
		TOTAL MISCELLANEOUS RETAIL		2,322,876

30

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY	VALUE
NONDEPOSITORY INSTITUTIONS - 0.38%
187,672	e	CapitalSource, Inc	2,079,406
		TOTAL NONDEPOSITORY INSTITUTIONS	2,079,406
OIL AND GAS EXTRACTION - 12.88%
288,186	*	Denbury Resources, Inc	10,518,789
101,516		Equitable Resources, Inc	7,010,695
50,736	*	National Oilwell Varco, Inc	4,501,298
110,522		Noble Corp	7,179,509
47,034		Pioneer Natural Resources Co	3,681,822
41,963		Range Resources Corp	2,757,836
91,029		Saipem S.p.A.	4,254,475
121,352		Smith International, Inc	10,089,205
191,348	*	Southwestern Energy Co	9,110,078
119,570	*	Weatherford International Ltd	5,929,476
85,986		XTO Energy, Inc	5,890,901
		TOTAL OIL AND GAS EXTRACTION	70,924,084
PRIMARY METAL INDUSTRIES - 2.15%
87,436		Precision Castparts Corp	8,426,207
242,896	e	Titanium Metals Corp	3,398,115
		TOTAL PRIMARY METAL INDUSTRIES	11,824,322
REAL ESTATE - 0.76%
130,238	e	Forest City Enterprises, Inc (Class A)	4,196,268
		TOTAL REAL ESTATE	4,196,268
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.39%
36,132		Nike, Inc (Class B)	2,153,829
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT	2,153,829
SECURITY AND COMMODITY BROKERS - 3.91%
386,368	*	Corrections Corp of America	10,613,529
12,177	*	IntercontinentalExchange, Inc	1,388,178
61,782	e	Janus Capital Group, Inc	1,635,370
44,822	e	Lazard Ltd (Class A)	1,530,671
32,297	e	Nymex Holdings, Inc	2,728,451
64,070		T Rowe Price Group, Inc	3,618,033
		TOTAL SECURITY AND COMMODITY BROKERS	21,514,232
SPECIAL TRADE CONTRACTORS - 1.39%
229,943	e*	Quanta Services, Inc	7,650,204
		TOTAL SPECIAL TRADE CONTRACTORS	7,650,204
STONE, CLAY, AND GLASS PRODUCTS - 0.72%
276,185	e	Gentex Corp	3,988,111
		TOTAL STONE, CLAY, AND GLASS PRODUCTS	3,988,111
WATER TRANSPORTATION - 1.27%
62,634	e	Genco Shipping & Trading Ltd	4,083,737
128,621	e	Royal Caribbean Cruises Ltd	2,890,114
		TOTAL WATER TRANSPORTATION	6,973,851

31

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Fund
SHARES		COMPANY		VALUE
WHOLESALE TRADE-DURABLE GOODS - 1.01%
308,590	e*	LKQ Corp	$	5,576,221
		TOTAL WHOLESALE TRADE-DURABLE GOODS		5,576,221
WHOLESALE TRADE-NONDURABLE GOODS - 0.40%
116,269	e*	Bare Escentuals, Inc		2,177,718
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,177,718
		TOTAL COMMON STOCKS		547,014,100
		(Cost $518,863,616)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 21.83%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.84%
$      4,640,000		Federal Home Loan Bank (FHLB), 07/01/08		4,640,000
				4,640,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 20.99%
115,617,664		State Street Navigator Securities Lending Prime Portfolio		115,617,664
				115,617,664
		TOTAL SHORT-TERM INVESTMENTS		120,257,664
		(Cost $120,257,664)
		TOTAL PORTFOLIO - 121.14%		667,271,764
		(Cost $639,121,280)
		OTHER ASSETS & LIABILITIES, NET - (21.14)%		(116,423,025	)
		NET ASSETS - 100.00%	$	550,848,739
		The following abbreviations are used in portfolio descriptions:
		ADR   -American Depositary Receipt
		plc       -Public Limited Company
		SPDR  -Standard & Poor's Depositary Receipt
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
		At June 30, 2008, the unrealized appreciation on investments was $28,150,484, consisting of
		gross unrealized appreciation of $67,436,247 and gross unrealized depreciation of $39,285,763.

32

TIAA-CREF INSTITUIONAL MUTUAL FUNDS - Mid-Cap Value Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP VALUE FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 96.18%
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.25%
180,000	e	Pilgrim's Pride Corp	$	2,338,200
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		2,338,200
AMUSEMENT AND RECREATION SERVICES - 0.13%
37,434	*	Penn National Gaming, Inc		1,203,503
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,203,503
APPAREL AND ACCESSORY STORES - 0.99%
90,000	*	AnnTaylor Stores Corp		2,156,400
86,651	*	Children's Place Retail Stores, Inc		3,128,101
244,759		Gap, Inc		4,080,133
		TOTAL APPAREL AND ACCESSORY STORES		9,364,634
APPAREL AND OTHER TEXTILE PRODUCTS - 0.18%
120,000	e	Liz Claiborne, Inc		1,698,000
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,698,000
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.22%
160,000		Asbury Automotive Group, Inc		2,056,000
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		2,056,000
BUSINESS SERVICES - 4.94%
145,895	*	Affiliated Computer Services, Inc (Class A)		7,803,924
20,000		Automatic Data Processing, Inc		838,000
117,000	*	CACI International, Inc (Class A)		5,355,090
170,000	*	Cadence Design Systems, Inc		1,717,000
209,245	*	Computer Sciences Corp		9,801,036
202,000	e*	DynCorp International, Inc (Class A)		3,060,300
335,943	e*	Earthlink, Inc		2,905,907
127,658		Electronic Data Systems Corp		3,145,493
37,000	*	Fiserv, Inc		1,678,690
590,300	e*	Interpublic Group of Cos, Inc		5,076,580
76,787	*	Juniper Networks, Inc		1,703,136
253,397	*	Novell, Inc		1,492,508
27,665		Visa, Inc (Class A)		2,249,441
		TOTAL BUSINESS SERVICES		46,827,105
CHEMICALS AND ALLIED PRODUCTS - 5.33%
32,634		Agrium, Inc		3,518,788
277,000		Alberto-Culver Co		7,276,790
32,000		Celanese Corp (Series A)		1,461,120
59,000		Clorox Co		3,079,800
141,096		Cytec Industries, Inc		7,698,198
57,590	*	Forest Laboratories, Inc		2,000,677
72,948	e*	Invitrogen Corp		2,863,938

33

TIAA-CREF INSTITUIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
32,000	e	Methanex Corp	$	904,423
207,148	e	Mylan Laboratories, Inc		2,500,276
167,000		PPG Industries, Inc		9,580,790
78,000		Rohm & Haas Co		3,622,320
43,193		Sigma-Aldrich Corp		2,326,375
182,369	e*	Theravance, Inc		2,164,720
370,000	e*	Verasun Energy Corp		1,528,100
		TOTAL CHEMICALS AND ALLIED PRODUCTS		50,526,315
COAL MINING - 0.26%
33,000		Arch Coal, Inc		2,475,990
		TOTAL COAL MINING		2,475,990
COMMUNICATIONS - 2.71%
35,514	*	Cablevision Systems Corp (Class A)		802,616
91,000	*	CenturyTel, Inc		3,238,690
515,000	e*	Citizens Communications Co		5,840,100
281,209	e*	Crown Media Holdings, Inc (Class A)		1,332,931
46,000		Global Payments, Inc		2,143,600
374,337		Informa plc		3,067,286
52,791	*	Liberty Media Corp - Capital (Series A)		760,190
211,164	*	Liberty Media Corp - Entertainment (Series A)		5,116,504
85,000	e	Manitoba Telecom Services, Inc		3,335,148
		TOTAL COMMUNICATIONS		25,637,065
DEPOSITORY INSTITUTIONS - 5.79%
170,000		Astoria Financial Corp		3,413,600
84,000		Bank of New York Mellon Corp		3,177,720
65,000	e	Comerica, Inc		1,665,950
49,000		Cullen/Frost Bankers, Inc		2,442,650
222,905	e	First Horizon National Corp		1,656,184
455,000		Hudson City Bancorp, Inc		7,589,400
169,000	e	Huntington Bancshares, Inc		975,130
247,936		Keycorp		2,722,337
89,000	e	M&T Bank Corp		6,278,060
48,414		National Bank of Greece S.A.		2,178,957
350,000	e	National City Corp		1,669,500
195,000	e	New York Community Bancorp, Inc		3,478,800
35,514		Northern Trust Corp		2,435,195
55,000		PNC Financial Services Group, Inc		3,140,500
465,000	e	TCF Financial Corp		5,593,950
302,400	e	Valley National Bancorp		4,768,848
67,189		Western Union Co		1,660,912
		TOTAL DEPOSITORY INSTITUTIONS		54,847,693
EATING AND DRINKING PLACES - 0.90%
268,000		Darden Restaurants, Inc		8,559,920
		TOTAL EATING AND DRINKING PLACES		8,559,920
ELECTRIC, GAS, AND SANITARY SERVICES - 12.80%
47,032		Allegheny Energy, Inc		2,356,774
492,397	*	Allied Waste Industries, Inc		6,214,050
149,735		American Electric Power Co, Inc		6,023,839
98,000		American Water Works Co, Inc		2,173,640

34

TIAA-CREF INSTITUIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
119,980	e	CMS Energy Corp	$	1,787,702
99,000		Constellation Energy Group, Inc		8,127,900
86,385	e	DPL, Inc		2,278,836
85,426		Edison International		4,389,188
57,590		Energen Corp		4,493,748
58,550		FirstEnergy Corp		4,820,422
37,000		Fortum Oyj		1,872,771
150,311	e	Integrys Energy Group, Inc		7,640,308
66,229	e*	Mirant Corp		2,592,865
297,838	e	NorthWestern Corp		7,571,042
164,132	*	NRG Energy, Inc		7,041,263
80,000	e*	Ocean Power Technologies, Inc		720,000
187,168		Pepco Holdings, Inc		4,800,859
73,908		PG&E Corp		2,933,409
152,614		PPL Corp		7,977,134
189,088		Progress Energy, Inc		7,909,551
59,000		Public Service Enterprise Group, Inc		2,709,870
125,000		Questar Corp		8,880,000
47,992		Sempra Energy		2,709,148
211,164		Southern Union Co		5,705,651
99,823		Williams Cos, Inc		4,023,865
175,650		Xcel Energy, Inc		3,525,296
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		121,279,131
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 2.94%
101,743	e*	Cree, Inc		2,320,758
229,401	*	Fairchild Semiconductor International, Inc		2,690,874
195,807	e*	Infineon Technologies AG. (ADR)		1,670,234
69,500		L-3 Communications Holdings, Inc		6,315,465
315,000	e*	LSI Logic Corp		1,934,100
120,000	*	Marvell Technology Group Ltd		2,119,200
215,000		Maxim Integrated Products, Inc		4,547,250
278,353	e*	Micron Technology, Inc		1,670,118
60,000	*	Novellus Systems, Inc		1,271,400
83,000	*	Nvidia Corp		1,553,760
383,935	e*	Tellabs, Inc		1,785,298
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		27,878,457
ENGINEERING AND MANAGEMENT SERVICES - 1.01%
45,000	*	McDermott International, Inc		2,785,050
29,000	e*	Shaw Group, Inc		1,791,910
118,000	*	URS Corp		4,952,460
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		9,529,420
FABRICATED METAL PRODUCTS - 1.89%
83,000		Commercial Metals Co		3,129,100
438,646	*	Crown Holdings, Inc		11,400,410
96,000	e	Pentair, Inc		3,361,920
		TOTAL FABRICATED METAL PRODUCTS		17,891,430
FOOD AND KINDRED PRODUCTS - 3.71%
190,000		Del Monte Foods Co		1,349,000
108,000		H.J. Heinz Co		5,167,800
79,667		McCormick & Co, Inc		2,840,925

35

TIAA-CREF INSTITUIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
65,000		Molson Coors Brewing Co (Class B)	$	3,531,450
63,349		Pepsi Bottling Group, Inc		1,768,704
90,000		Reynolds American, Inc		4,200,300
540,000	e*	Smithfield Foods, Inc		10,735,200
370,000		Tyson Foods, Inc (Class A)		5,527,800
		TOTAL FOOD AND KINDRED PRODUCTS		35,121,179
FOOD STORES - 1.07%
280,273		Kroger Co		8,091,482
65,269	*	Supervalu, Inc		2,016,159
		TOTAL FOOD STORES		10,107,641
FURNITURE AND FIXTURES - 0.69%
340,000	e	Masco Corp		5,348,200
150,000	e	Tempur-Pedic International, Inc		1,171,500
		TOTAL FURNITURE AND FIXTURES		6,519,700
FURNITURE AND HOME FURNISHINGS STORES - 0.12%
400,000	e	Circuit City Stores, Inc		1,156,000
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		1,156,000
GENERAL BUILDING CONTRACTORS - 0.74%
185,000	e	Ryland Group, Inc		4,034,850
49,473	e	Vinci S.A.		3,021,012
		TOTAL GENERAL BUILDING CONTRACTORS		7,055,862
GENERAL MERCHANDISE STORES - 0.24%
115,000		Macy's, Inc		2,233,300
		TOTAL GENERAL MERCHANDISE STORES		2,233,300
HEALTH SERVICES - 0.99%
60,950	*	DaVita, Inc		3,238,273
211,164	*	Healthsouth Corp		3,511,657
55,000	*	WellPoint, Inc		2,621,300
		TOTAL HEALTH SERVICES		9,371,230
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.25%
22,000	e	Bouygues S.A.		1,451,488
12,000	*	Foster Wheeler Ltd		877,800
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		2,329,288
HOLDING AND OTHER INVESTMENT OFFICES - 12.72%
28,500	*	Affiliated Managers Group, Inc		2,566,710
64,300		Boston Properties, Inc		5,801,146
57,590	e	CBL & Associates Properties, Inc		1,315,356
48,400		Douglas Emmett, Inc		1,063,348
57,590		Equity Residential		2,203,969
16,500	e	Essex Property Trust, Inc		1,757,250
40,313	e	General Growth Properties, Inc		1,412,164
75,000	e	Glimcher Realty Trust		838,500
61,329	g,m,v*	GSC Capital Corp		0
510,000		iShares Russell 1000 Value Index Fund		35,215,500
285,000		iShares Russell Midcap Value Index Fund		36,662,400
71,988		Kimco Realty Corp		2,485,026

36

TIAA-CREF INSTITUIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
33,000		Mack-Cali Realty Corp	$	1,127,610
29,000		Pennsylvania Real Estate Investment Trust		671,060
84,000	e	Plum Creek Timber Co, Inc		3,587,640
39,353	e	Post Properties, Inc		1,170,752
72,948	e	Potlatch Corp		3,291,414
42,000		Prologis		2,282,700
26,000		Public Storage, Inc		2,100,540
76,787		Taubman Centers, Inc		3,735,688
240,500	e*	Vantage Drilling Co		2,075,515
104,622		Vornado Realty Trust		9,206,736
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		120,571,024
HOTELS AND OTHER LODGING PLACES - 0.96%
69,000	e	Accor S.A.		4,583,655
32,634	e	Orient-Express Hotels Ltd (Class A)		1,417,621
78,000		Starwood Hotels & Resorts Worldwide, Inc		3,125,460
		TOTAL HOTELS AND OTHER LODGING PLACES		9,126,736
INDUSTRIAL MACHINERY AND EQUIPMENT - 1.60%
395,000	*	Brocade Communications Systems, Inc		3,254,800
58,550		Curtiss-Wright Corp		2,619,527
22,900		Deere & Co		1,651,777
95,000		Dover Corp		4,595,150
40,020		Ingersoll-Rand Co Ltd (Class A)		1,497,949
21,000		Joy Global, Inc		1,592,430
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		15,211,633
INSTRUMENTS AND RELATED PRODUCTS - 2.73%
52,791	*	Agilent Technologies, Inc		1,876,192
50,000		Applied Biosystems, Inc		1,674,000
34,200		Beckman Coulter, Inc		2,309,526
72,948	e	Cooper Cos, Inc		2,710,018
13,918	*	Mettler-Toledo International, Inc		1,320,261
80,000	*	Teradyne, Inc		885,600
123,000	*	Thermo Electron Corp		6,854,790
80,000	*	Waters Corp		5,160,000
225,000		Xerox Corp		3,051,000
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		25,841,387
INSURANCE AGENTS, BROKERS AND SERVICE - 0.77%
110,000		AON Corp		5,053,400
34,500		Hartford Financial Services Group, Inc		2,227,665
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		7,281,065
INSURANCE CARRIERS - 5.77%
103,900	*	ACE Ltd		5,723,851
133,000		Aetna, Inc		5,390,490
31,600		Assurant, Inc		2,084,336
97,903		Axis Capital Holdings Ltd		2,918,488
89,000		Cincinnati Financial Corp		2,260,600
57,590	e	CNA Financial Corp		1,448,389
220,000	*	Conseco, Inc		2,182,400
52,200		Everest Re Group Ltd		4,160,862
185,000		Genworth Financial, Inc (Class A)		3,294,850

37

TIAA-CREF INSTITUIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
40,000		Hanover Insurance Group, Inc	$	1,700,000
100,000	*	Health Net, Inc		2,406,000
44,000		Lincoln National Corp		1,994,080
106,000		Max Re Capital Ltd		2,260,980
100,000	e	Nationwide Financial Services, Inc (Class A)		4,801,000
46,072	e	OneBeacon Insurance Group Ltd		809,485
40,000		PartnerRe Ltd		2,765,200
165,000	e	Principal Financial Group		6,925,050
76,787		XL Capital Ltd (Class A)		1,578,741
		TOTAL INSURANCE CARRIERS		54,704,802
METAL MINING - 1.97%
224,000		Anglo American plc		15,732,466
30,500	e	Cameco Corp		1,310,091
25,000		Compania de Minas Buenaventura S.A. (ADR)		1,634,250
		TOTAL METAL MINING		18,676,807
MISCELLANEOUS RETAIL - 0.39%
76,787	e	Barnes & Noble, Inc		1,907,389
21,000		Compagnie Financiere Richemont AG.		1,165,411
375,297	e*	Rite Aid Corp		596,722
		TOTAL MISCELLANEOUS RETAIL		3,669,522
MOTION PICTURES - 0.41%
28,795		CBS Corp (Class B)		561,215
107,502	*	Discovery Holding Co (Class A)		2,360,744
61,430	e	Regal Entertainment Group (Class A)		938,650
		TOTAL MOTION PICTURES		3,860,609
NONDEPOSITORY INSTITUTIONS - 0.75%
37,000		Capital One Financial Corp		1,406,370
1	*	Guaranty Financial Group, Inc		5
157,218	e*	Heckmann Corp		1,408,673
157,218	*	Heckmann Corp		400,906
260,000	*	Marathon Acquisition Corp		2,033,200
139,000	*	Marathon Acquisition Corp		125,100
90,000	*	SLM Corp		1,741,500
		TOTAL NONDEPOSITORY INSTITUTIONS		7,115,754
OIL AND GAS EXTRACTION - 2.63%
117,000		BJ Services Co		3,736,980
26,875		Equitable Resources, Inc		1,855,988
88,000	*	Forest Oil Corp		6,556,000
59,000		Pioneer Natural Resources Co		4,618,520
132,000	*	Pride International, Inc		6,242,280
72,153	*	Rex Energy Corp		1,904,839
		TOTAL OIL AND GAS EXTRACTION		24,914,607
PAPER AND ALLIED PRODUCTS - 1.33%
145,895		Greif, Inc (Class A)		9,341,657
117,000		MeadWestvaco Corp		2,789,280
46,072	e	Temple-Inland, Inc		519,231
		TOTAL PAPER AND ALLIED PRODUCTS		12,650,168

38

TIAA-CREF INSTITUIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
PETROLEUM AND COAL PRODUCTS - 3.55%
65,000		Cabot Oil & Gas Corp	$	4,402,450
89,000		Hess Corp		11,230,910
44,000	*	Newfield Exploration Co		2,871,000
118,000		Noble Energy, Inc		11,866,080
28,470	e*	SandRidge Energy, Inc		1,838,593
71,000	e	Tesoro Corp		1,403,670
		TOTAL PETROLEUM AND COAL PRODUCTS		33,612,703
PRIMARY METAL INDUSTRIES - 1.19%
25,000		Precision Castparts Corp		2,409,250
13,300		United States Steel Corp		2,457,574
18,429		Vallourec		6,445,162
		TOTAL PRIMARY METAL INDUSTRIES		11,311,986
PRINTING AND PUBLISHING - 0.34%
68,628	e	Gannett Co, Inc		1,487,169
62,389	e	Meredith Corp		1,764,985
		TOTAL PRINTING AND PUBLISHING		3,252,154
RAILROAD TRANSPORTATION - 1.20%
152,000		CSX Corp		9,547,120
29,000		Norfolk Southern Corp		1,817,430
		TOTAL RAILROAD TRANSPORTATION		11,364,550
REAL ESTATE - 0.03%
15,357	e*	Forestar Real Estate Group, Inc		292,551
		TOTAL REAL ESTATE		292,551
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.38%
75,000	*	Goodyear Tire & Rubber Co		1,337,250
137,257		Newell Rubbermaid, Inc		2,304,545
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		3,641,795
SECURITY AND COMMODITY BROKERS - 2.18%
110,000		Ameriprise Financial, Inc		4,473,700
199,000		Charles Schwab Corp		4,087,460
120,000		Invesco Ltd		2,877,600
89,000		Janus Capital Group, Inc		2,355,830
180,000	e	Jefferies Group, Inc		3,027,600
40,000	e	Lazard Ltd (Class A)		1,366,000
70,000		Waddell & Reed Financial, Inc (Class A)		2,450,700
		TOTAL SECURITY AND COMMODITY BROKERS		20,638,890
TOBACCO PRODUCTS - 0.59%
69,000	*	Lorillard, Inc		4,772,040
50,000	e	Vector Group Ltd		806,500
		TOTAL TOBACCO PRODUCTS		5,578,540
TRANSPORTATION BY AIR - 0.88%
450,000	e*	AMR Corp		2,304,000
220,000	e*	Continental Airlines, Inc (Class B)		2,224,200
330,000	e*	easyJet plc		1,764,741

39

TIAA-CREF INSTITUIONAL MUTUAL FUNDS - Mid-Cap Value Fund
SHARES		COMPANY		VALUE
400,000	e	UAL Corp	$	2,088,000
		TOTAL TRANSPORTATION BY AIR		8,380,941
TRANSPORTATION EQUIPMENT - 3.07%
83,000		Autoliv, Inc		3,869,460
230,361		BAE Systems plc		2,021,962
235,000	e	Brunswick Corp		2,491,000
1,483,205	e*	Ford Motor Co		7,134,216
14,500		General Dynamics Corp		1,220,900
96,000	e	Group 1 Automotive, Inc		1,907,520
35,514		Harsco Corp		1,932,317
144,000	*	Pactiv Corp		3,057,120
204,000	*	Spirit Aerosystems Holdings, Inc (Class A)		3,912,720
85,426	*	TRW Automotive Holdings Corp		1,577,818
		TOTAL TRANSPORTATION EQUIPMENT		29,125,033
WATER TRANSPORTATION - 1.36%
121,899	e	Danaos Corp		2,681,778
59,000	e	DryShips, Inc		4,730,620
12,900		Globus Maritime Ltd		118,088
65,269	e	Omega Navigation Enterprises, Inc (Class A)		1,077,591
190,000	e	Royal Caribbean Cruises Ltd		4,269,300
		TOTAL WATER TRANSPORTATION		12,877,377
WHOLESALE TRADE-DURABLE GOODS - 0.50%
17,000		Reliance Steel & Aluminum Co		1,310,530
86,000		Sims Group Ltd		3,431,400
		TOTAL WHOLESALE TRADE-DURABLE GOODS		4,741,930
WHOLESALE TRADE-NONDURABLE GOODS - 0.73%
30,000	e, v	Akzo Nobel NV (ADR)		2,051,700
127,000	*	Dean Foods Co		2,491,740
93,104	e	Macquarie Infrastructure Co LLC		2,354,600
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		6,898,040
		TOTAL COMMON STOCKS		911,347,667
		(Cost $950,630,744)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 23.32%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 4.26%
$      40,360,000		Federal Home Loan Bank (FHLB), 07/01/08		40,360,000
				40,360,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 19.06%
180,606,974		State Street Navigator Securities Lending Prime Portfolio		180,606,974
				180,606,974
		TOTAL SHORT-TERM INVESTMENTS		220,966,974
		(Cost $220,966,974)

40

TIAA-CREF INSTITUIONAL MUTUAL FUNDS - Mid-Cap Value Fund
				VALUE
		TOTAL PORTFOLIO - 119.50%
		(Cost $1,171,597,718)		1,132,314,641
		OTHER ASSETS & LIABILITIES, NET - (19.50)%	$	(184,741,903	)
		NET ASSETS - 100.00%	$	947,572,738
		The following abbreviations are used in portfolio descriptions:
		ADR  -  American Depositary Receipt
		plc -  Public Limited Company
		LLC   -  Limited Liability Company
	*	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 June 30, 2008, the value of these securities amounted to $0
		or 0.00% of net assets.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.
		At June 30, 2008, the unrealized depreciation on investments was $39,283,077, consisting of
		gross unrealized appreciation of $96,633,031 and gross unrealized depreciation of $135,916,108.

41

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.09%
AGRICULTURAL PRODUCTION-CROPS - 0.06%
20,600	e*	Chiquita Brands International, Inc	$	312,502
		TOTAL AGRICULTURAL PRODUCTION-CROPS		312,502
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.23%
36,206	e	Cal-Maine Foods, Inc		1,194,436
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		1,194,436
AMUSEMENT AND RECREATION SERVICES - 0.47%
37,700	*	Bally Technologies, Inc		1,274,260
357	e	Dover Downs Gaming & Entertainment, Inc		2,292
258,500	*	Six Flags, Inc		297,275
24,652	e*	Town Sports International Holdings, Inc		230,250
20,000	e*	WMS Industries, Inc		595,400
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,399,477
APPAREL AND ACCESSORY STORES - 1.85%
53,136	e*	Aeropostale, Inc		1,664,751
11,700	e	Buckle, Inc		535,041
60,400	*	Carter's, Inc		834,728
1,928		Cato Corp (Class A)		27,455
37,700	*	Charlotte Russe Holding, Inc		669,552
32,700	e*	Children's Place Retail Stores, Inc		1,180,470
31,400		Christopher & Banks Corp		213,520
29,097	e*	Collective Brands, Inc		338,398
43,119	*	Dress Barn, Inc		576,932
50,800	*	HOT Topic, Inc		274,828
20,000	e*	J Crew Group, Inc		660,200
26,300	e*	JOS A Bank Clothiers, Inc		703,525
44,000	*	New York & Co, Inc		401,720
21,000	*	Tween Brands, Inc		345,660
203,954	*	Wet Seal, Inc (Class A)		972,861
		TOTAL APPAREL AND ACCESSORY STORES		9,399,641
APPAREL AND OTHER TEXTILE PRODUCTS - 0.86%
24,908	e*	G-III Apparel Group Ltd		307,365
36,863	e*	Gymboree Corp		1,477,100
34,500	e*	Maidenform Brands, Inc		465,750
102,900	*	Quiksilver, Inc		1,010,478
25,800	e*	Warnaco Group, Inc		1,137,006
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		4,397,699
AUTO REPAIR, SERVICES AND PARKING - 0.21%
50,900	*	Exide Technologies		853,084
13,800	*	Midas, Inc		186,300

42

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
664	*	Wright Express Corp	$	16,467
		TOTAL AUTO REPAIR, SERVICES AND PARKING		1,055,851
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.01%
13,600	*	Builders FirstSource, Inc		72,216
265	*	Central Garden & Pet Co		1,206
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		73,422
BUSINESS SERVICES - 11.90%
622,269	*	3Com Corp		1,319,210
24,406	e	Aaron Rents, Inc		544,986
25,369	e	ABM Industries, Inc		564,460
153,911	e*	Actuate Corp		601,792
50,965	e	Administaff, Inc		1,421,414
65,200	e*	American Reprographics Co		1,085,580
7,639	*	Ansoft Corp		278,060
1	*	Art Technology Group, Inc		3
14,700	*	Blackboard, Inc		561,981
45,202	e*	Blue Coat Systems, Inc		637,800
15,000	*	Bottomline Technologies, Inc		145,950
11,000		Brady Corp (Class A)		379,830
12,600	*	CACI International, Inc (Class A)		576,702
63,100	*	Ciber, Inc		391,851
18,100	*	CMGI, Inc		191,860
31,981	*	Commvault Systems, Inc		532,164
27,416	e	Compass Diversified Trust		313,365
106,107	*	CSG Systems International, Inc		1,169,299
1,800	e*	DealerTrack Holdings, Inc		25,398
43,200		Deluxe Corp		769,824
35,471	e*	Dice Holdings, Inc		292,990
29,473	e*	Digital River, Inc		1,137,068
32,000	e*	DynCorp International, Inc (Class A)		484,800
208,544	e*	Earthlink, Inc		1,803,906
45,300	e*	Eclipsys Corp		831,708
158,900	*	Evergreen Energy, Inc		276,486
59,100	e*	FalconStor Software, Inc		418,428
9,200	*	Forrester Research, Inc		284,096
83,800	e*	Gartner, Inc		1,736,336
19,300	*	Gerber Scientific, Inc		219,634
61,000	e*	Global Cash Access, Inc		418,460
60,279	e*	Global Sources Ltd		915,035
70,500	e*	H&E Equipment Services, Inc		847,410
63,500	e	Heartland Payment Systems, Inc		1,498,600
23,269	e	Heidrick & Struggles International, Inc		643,155
24,100		infoGROUP, Inc		105,799
25,056	*	Informatica Corp		376,842
876		Infospace, Inc		7,297
17,500	e*	Interactive Intelligence, Inc		203,700
67,300	*	Internap Network Services Corp		314,964
50,500	*	Interwoven, Inc		606,505
7,400	e	Jack Henry & Associates, Inc		160,136
68,300	*	JDA Software Group, Inc		1,236,230
25,800	*	Kenexa Corp		486,072
7,800	*	Keynote Systems, Inc		100,464
33,875	*	Kforce, Inc		287,599

43

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
13,252	*	Korn/Ferry International	$	208,454
88,400	*	Lawson Software, Inc		642,668
49,100	*	Limelight Networks, Inc		187,562
16,500	*	Liquidity Services, Inc		190,245
43,800	*	Magma Design Automation, Inc		265,866
70,234	e*	Manhattan Associates, Inc		1,666,653
34,551	*	Mantech International Corp (Class A)		1,662,594
13,300	*	MicroStrategy, Inc (Class A)		861,175
8,300	*	Monotype Imaging Holdings, Inc		101,094
133,113	*	MPS Group, Inc		1,414,991
3,400	*	NCI, Inc (Class A)		77,792
20,981	*	Ness Technologies, Inc		212,328
24,300	e*	NetFlix, Inc		633,501
48,803	*	On Assignment, Inc		391,400
12,000	*	Online Resources Corp		100,200
64,549	e*	Parametric Technology Corp		1,076,032
66,200	e*	Perficient, Inc		639,492
68,927	*	Perot Systems Corp (Class A)		1,034,594
84,200	*	Premiere Global Services, Inc		1,227,636
57,143	*	Progress Software Corp		1,461,147
103,900	*	Quest Software, Inc		1,538,759
23,100	*	Radisys Corp		209,286
62,300	e*	Rent-A-Center, Inc		1,281,511
26,600	e	Rollins, Inc		394,212
203,100	*	Sapient Corp		1,303,902
31,400	*	Secure Computing Corp		129,996
7,400	e*	Sonus Networks, Inc		25,308
18,412	e	Sotheby's		485,524
46,653	e*	SPSS, Inc		1,696,770
17,500	*	SuccessFactors, Inc		191,625
75,568	e*	Sybase, Inc		2,223,211
71,890	*	SYKES Enterprises, Inc		1,355,845
48,461	e*	SYNNEX Corp		1,215,886
31,500	*	Take-Two Interactive Software, Inc		805,455
71,736	e*	TeleTech Holdings, Inc		1,431,851
25,000	e*	THQ, Inc		506,500
40,287	*	TIBCO Software, Inc		308,196
121,446	e	United Online, Inc		1,218,103
63,100	*	Valueclick, Inc		955,965
27,482	*	Virtusa Corp		278,393
61,700	*	Websense, Inc		1,039,028
63,000	*	Wind River Systems, Inc		686,070
		TOTAL BUSINESS SERVICES		60,542,069
CHEMICALS AND ALLIED PRODUCTS - 7.79%
25,068	e*	Acorda Therapeutics, Inc		822,982
59,800	*	Adolor Corp		327,704
48,333	*	Albany Molecular Research, Inc		641,379
11,700	d,e*	Alexion Pharmaceuticals, Inc		848,250
36,800	*	Alkermes, Inc		454,848
26,635	e*	Alnylam Pharmaceuticals, Inc		711,954
10,000	e*	Alpharma, Inc (Class A)		225,300
63,950	*	American Oriental Bioengineering, Inc		631,187
29,201	e	Arch Chemicals, Inc		968,013

44

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
28,400	*	Arqule, Inc	$	92,300
4,931	e*	Auxilium Pharmaceuticals, Inc		165,780
7,200	*	Avant Immunotherapeutics, Inc		104,832
2,000	e*	Bentley Pharmaceuticals, Inc		32,300
8,300	*	Biodel, Inc		107,900
16,300	*	BioMimetic Therapeutics, Inc		194,296
4,900	e*	Caraco Pharmaceutical Laboratories Ltd		64,680
27,800	e*	Cell Genesys, Inc		72,280
4,895		CF Industries Holdings, Inc		747,956
18,991	e*	Chattem, Inc		1,235,365
85,923	e*	Cubist Pharmaceuticals, Inc		1,534,585
59,800	e*	Dendreon Corp		266,110
23,200	*	Elizabeth Arden, Inc		352,176
18,400	e*	Emergent Biosolutions, Inc		182,712
89,100		Ferro Corp		1,671,516
73,100	*	Geron Corp		252,195
76,946	e*	Halozyme Therapeutics, Inc		413,969
44,224		Hercules, Inc		748,712
22,900	*	Idenix Pharmaceuticals, Inc		166,483
8,000	*	Idera Pharmaceuticals, Inc		116,880
23,998	e*	Immucor, Inc		621,068
51,500	e	Innophos Holdings, Inc		1,645,425
47,282		Innospec, Inc		889,847
24,500	*	Inspire Pharmaceuticals, Inc		104,860
35,265		Koppers Holdings, Inc		1,476,546
15,700	*	Landec Corp		101,579
38,138	e*	Martek Biosciences Corp		1,285,632
79,729	*	Medicines Co		1,580,229
73,700	e	Medicis Pharmaceutical Corp (Class A)		1,531,486
15,800		Minerals Technologies, Inc		1,004,722
12,000	*	Momenta Pharmaceuticals, Inc		147,600
58,540	e*	Nabi Biopharmaceuticals		230,648
30,500	*	Neurocrine Biosciences, Inc		127,795
17,179	e	NewMarket Corp		1,137,765
7,000	e*	Noven Pharmaceuticals, Inc		74,830
19,400	*	NPS Pharmaceuticals, Inc		86,330
53,800	e*	Obagi Medical Products, Inc		459,990
18,000		Olin Corp		471,240
18,380	e*	OM Group, Inc		602,680
3,818	e*	Omrix Biopharmaceuticals, Inc		60,095
14,000	e*	Onyx Pharmaceuticals, Inc		498,400
11,900	*	Orexigen Therapeutics, Inc		93,891
58,086	e*	OSI Pharmaceuticals, Inc		2,400,114
7,400	*	Osiris Therapeutics, Inc		95,090
35,527	e*	Pain Therapeutics, Inc		280,663
16,173	e	Perrigo Co		513,816
46,644	e*	PetMed Express, Inc		571,389
30,000	e*	Pozen, Inc		326,400
51,000	*	Prestige Brands Holdings, Inc		543,660
20,100	*	Salix Pharmaceuticals Ltd		141,303
73,817	e	Sciele Pharma, Inc		1,428,359
15,600	*	United Therapeutics Corp		1,524,900
26,511	e*	Valeant Pharmaceuticals International		453,603
125,000	e*	Viropharma, Inc		1,382,500

45

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
53,990	e*	WR Grace & Co	$	1,268,225
7,400	*	Xenoport, Inc		288,822
		TOTAL CHEMICALS AND ALLIED PRODUCTS		39,606,146
COAL MINING - 0.44%
5,617	*	Alpha Natural Resources, Inc		585,797
61,200	*	International Coal Group, Inc		798,660
12,200	*	James River Coal Co		716,018
7,200	*	Westmoreland Coal Co		151,992
		TOTAL COAL MINING		2,252,467
COMMUNICATIONS - 2.55%
30,594	e*	Anixter International, Inc		1,820,037
35,085	e	Atlantic Tele-Network, Inc		965,188
42,100	e*	Brightpoint, Inc		307,330
239,955	e*	Centennial Communications Corp		1,677,286
441,405	*	Cincinnati Bell, Inc		1,756,792
28,273	e*	Cox Radio, Inc (Class A)		333,621
21,500	*	Cumulus Media, Inc (Class A)		84,710
105,694	*	Foundry Networks, Inc		1,249,303
58,600		IDT Corp (Class B)		99,620
26,000	*	iPCS, Inc		770,380
55,508	e*	j2 Global Communications, Inc		1,276,684
4,900	*	Neutral Tandem, Inc		85,750
67,456	e*	Novatel Wireless, Inc		750,785
54,140		NTELOS Holdings Corp		1,373,532
17,600	*	TeleCommunication Systems, Inc		81,488
27,200		USA Mobility, Inc		205,360
52,000	*	Virgin Mobile USA, Inc		143,000
		TOTAL COMMUNICATIONS		12,980,866
DEPOSITORY INSTITUTIONS - 5.49%
13,000	e	1st Source Corp		209,300
31,313	e	Ameris Bancorp		272,423
12,202	e	Bancfirst Corp		522,246
900	e	Bank Mutual Corp		9,036
13,735	e	Bank of the Ozarks, Inc		204,102
38,985	e	Banner Corp		345,407
28,300	e	Berkshire Hills Bancorp, Inc		669,295
10,515	e	Chemical Financial Corp		214,506
52,718	e	Columbia Banking System, Inc		1,019,039
34,356	e	Community Trust Bancorp, Inc		902,189
2,980	e	First Bancorp		37,667
44,829	e	First Financial Bancorp		412,427
20,000	e	First Financial Bankshares, Inc		916,200
565	e	First Financial Holdings, Inc		9,707
41,100	e	First Merchants Corp		745,965
125,345	e	First Niagara Financial Group, Inc		1,611,937
19,137	e	First Place Financial Corp		179,888
2	e	Fulton Financial Corp		20
12,100		Greene County Bancshares, Inc		169,642
26,025	e	Hanmi Financial Corp		135,590
4,200		Home Bancshares, Inc		94,416

46

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
29,386	e	Integra Bank Corp	$	230,092
9,200		Lakeland Bancorp, Inc		112,056
4,200		Lakeland Financial Corp		80,136
9,200		MainSource Financial Group, Inc		142,600
20,407	e	Nara Bancorp, Inc		218,967
23,600	e	NBT Bancorp, Inc		486,396
40,000	*	Net 1 UEPS Technologies, Inc		972,000
59,200	e	Northwest Bancorp, Inc		1,291,744
5,900	e	Old Second Bancorp, Inc		68,558
8,200	*	Pinnacle Financial Partners, Inc		164,738
63,733	e	Prosperity Bancshares, Inc		1,703,583
21,400		Provident Financial Services, Inc		299,814
16,956	e	Renasant Corp		249,762
17,554	e	Republic Bancorp, Inc (Class A)		431,828
8,300		Sandy Spring Bancorp, Inc		137,614
25,700		Santander BanCorp		272,677
11,818	e	SCBT Financial Corp		337,522
11,019	e	Sierra Bancorp		181,814
33,503	e	Simmons First National Corp (Class A)		937,079
64,945		Southwest Bancorp, Inc		746,868
130,638	e	Sterling Bancshares, Inc		1,187,499
53,400	e	Sterling Financial Corp		221,076
600	e	Suffolk Bancorp		17,628
59,982	e*	Sun Bancorp, Inc		608,825
35,500	e*	SVB Financial Group		1,707,905
69,600	e*	Texas Capital Bancshares, Inc		1,113,600
50,996	e	Trustmark Corp		900,079
20,600	e	UMB Financial Corp		1,056,162
88,264	e	Umpqua Holdings Corp		1,070,642
36,292	e	United Community Banks, Inc		309,571
23,900		Westamerica Bancorporation		1,256,901
84,062	e	Wilshire Bancorp, Inc		720,411
		TOTAL DEPOSITORY INSTITUTIONS		27,917,149
EATING AND DRINKING PLACES - 1.37%
25,300	*	AFC Enterprises		202,147
50,584	e	Bob Evans Farms, Inc		1,446,702
10,700	*	California Pizza Kitchen, Inc		119,733
26,089	e*	CEC Entertainment, Inc		730,753
9,500		CKE Restaurants, Inc		118,465
262,890	e*	Denny's Corp		746,608
51,800	e*	Jack in the Box, Inc		1,160,838
101,500	*	Krispy Kreme Doughnuts, Inc		506,485
51,668	*	Papa John's International, Inc		1,373,852
26,000	e*	PF Chang's China Bistro, Inc		580,840
		TOTAL EATING AND DRINKING PLACES		6,986,423
EDUCATIONAL SERVICES - 0.31%
12,700	*	American Public Education, Inc		495,808
8,900		DeVry, Inc		477,218
5,000	*	Learning Tree International, Inc		85,500
5	*	Lincoln Educational Services Corp		58
2,448		Strayer Education, Inc		511,803
		TOTAL EDUCATIONAL SERVICES		1,570,387

47

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 3.28%
19,600	e	American States Water Co	$	684,824
27,569		Avista Corp		591,631
4,700		Chesapeake Utilities Corp		120,884
21,524	*	Clean Harbors, Inc		1,529,495
95,300	*	El Paso Electric Co		1,886,940
30,700		New Jersey Resources Corp		1,002,355
21,500		Northwest Natural Gas Co		994,590
13,936	e	NorthWestern Corp		354,253
8,100	e	Otter Tail Corp		314,523
52,000		Piedmont Natural Gas Co, Inc		1,360,320
71,962		Portland General Electric Co		1,620,584
68,887		Southwest Gas Corp		2,048,011
63,914	e	UIL Holdings Corp		1,879,711
22,500		Unisource Energy Corp		697,725
45,808		WGL Holdings, Inc		1,591,370
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		16,677,216
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.57%
20,100	*	Acme Packet, Inc		155,976
21,800	*	Actel Corp		367,330
43,000	e	Acuity Brands, Inc		2,067,440
87,800	*	Advanced Analogic Technologies, Inc		362,614
26,400	e*	American Superconductor Corp		946,440
127,756	e*	Amkor Technology, Inc		1,329,940
51,200	e*	Anadigics, Inc		504,320
16,771	*	Arris Group, Inc		141,715
34,700	e*	Atheros Communications, Inc		1,041,000
117,100	*	Avanex Corp		132,323
21,000	*	AZZ, Inc		837,900
31,000	e	Baldor Electric Co		1,084,380
69,800	*	Benchmark Electronics, Inc		1,140,532
45,500	*	BigBand Networks, Inc		215,215
25,266	e*	Ceradyne, Inc		866,624
18,100	*	Checkpoint Systems, Inc		377,928
24,200		Cubic Corp		539,176
19,500	*	Energy Conversion Devices, Inc		1,435,980
99,300	*	GrafTech International Ltd		2,664,219
112,200	*	Harmonic, Inc		1,067,022
31,300	*	InterVoice, Inc		178,410
7,600	*	IXYS Corp		90,744
17,710	*	Littelfuse, Inc		558,751
16,200	*	Mercury Computer Systems, Inc		121,986
136,187		Methode Electronics, Inc		1,423,154
46,400	e*	Microsemi Corp		1,168,352
37,200	*	Microvision, Inc		102,300
8,146	e*	MIPS Technologies, Inc		30,548
29,898	*	Monolithic Power Systems, Inc		646,395
14,225	e*	Moog, Inc (Class A)		529,739
34,200	e*	Multi-Fineline Electronix, Inc		946,314
4,600	*	NVE Corp		145,636
50,044	e*	Omnivision Technologies, Inc		605,032
57,809	e*	ON Semiconductor Corp		530,109

48

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
17,500	*	Oplink Communications, Inc	$	168,000
21,429	*	OSI Systems, Inc		459,009
20,600		Park Electrochemical Corp		500,786
31,600	*	Pericom Semiconductor Corp		468,944
6,200	e	Plantronics, Inc		138,384
56,128	*	Plexus Corp		1,553,623
152,500	e*	PMC - Sierra, Inc		1,166,625
67,800	*	Polycom, Inc		1,651,608
62,300	e*	Polypore International, Inc		1,578,059
76,300	*	Quantum Fuel Systems Technologies Worldwide, Inc		235,004
24,000	e	Regal-Beloit Corp		1,014,000
82,100	*	Semtech Corp		1,155,147
142,914	e*	Silicon Image, Inc		1,036,127
164,537	e*	Silicon Storage Technology, Inc		455,767
98,900	e*	Skyworks Solutions, Inc		976,143
126,100	*	Spansion, Inc (Class A)		283,725
28,500	e*	Standard Microsystems Corp		773,775
36,968	*	Stoneridge, Inc		630,674
15,000	e*	Synaptics, Inc		565,950
17,673		Technitrol, Inc		300,264
42,100	e*	Tekelec		619,291
49,400	*	Tessera Technologies, Inc		808,678
122,730	*	Trident Microsystems, Inc		447,965
139,073	*	Triquint Semiconductor, Inc		842,782
61,700	*	TTM Technologies, Inc		815,057
43,500	*	US Geothermal, Inc		127,890
53,100	*	Utstarcom, Inc		290,457
9,400	*	Viasat, Inc		189,974
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		43,609,252
ENGINEERING AND MANAGEMENT SERVICES - 2.01%
25,000	e*	Aecom Technology Corp		813,250
61,100	*	Ariad Pharmaceuticals, Inc		146,640
4,904	e*	comScore, Inc		107,005
9,400	*	CRA International, Inc		339,810
149,631	e*	Exelixis, Inc		748,155
6,200	*	ICF International, Inc		103,044
28,800	e*	Isis Pharmaceuticals, Inc		392,544
11,600	e*	Kendle International, Inc		421,428
1,334	*	LECG Corp		11,659
22,881	e*	Luminex Corp		470,205
5,200		MAXIMUS, Inc		181,064
29,700	e*	Myriad Genetics, Inc		1,351,944
26,642	e*	PharmaNet Development Group, Inc		420,144
69,232	*	Regeneron Pharmaceuticals, Inc		999,710
51,200	e*	SAIC, Inc		1,065,472
39,725	e*	Seattle Genetics, Inc		336,074
43,791	e	Watson Wyatt & Co Holdings (Class A)		2,316,106
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		10,224,254
FABRICATED METAL PRODUCTS - 1.30%
42,019	*	Chart Industries, Inc		2,043,804
17,400	e	CIRCOR International, Inc		852,426
42,805		Gulf Island Fabrication, Inc		2,094,449

49

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
23,600	*	NCI Building Systems, Inc	$	866,828
5,000	*	Park-Ohio Holdings Corp		73,800
28,100	*	Trimas Corp		168,319
4,900	e	Valmont Industries, Inc		511,021
		TOTAL FABRICATED METAL PRODUCTS		6,610,647
FOOD AND KINDRED PRODUCTS - 0.95%
300	e*	Boston Beer Co, Inc (Class A)		12,204
103,600	*	Darling International, Inc		1,711,472
16,400		Diamond Foods, Inc		377,856
53,545	e	Flowers Foods, Inc		1,517,465
13,800		National Beverage Corp		100,326
6,500	*	Omega Protein Corp		97,175
10,916	e*	Ralcorp Holdings, Inc		539,687
33,400		Reddy Ice Holdings, Inc		456,912
		TOTAL FOOD AND KINDRED PRODUCTS		4,813,097
FOOD STORES - 0.22%
5,200	e	Ingles Markets, Inc (Class A)		121,316
27,118	e	Ruddick Corp		930,419
8,200	*	Susser Holdings Corp		79,376
		TOTAL FOOD STORES		1,131,111
FURNITURE AND FIXTURES - 0.45%
71,785	e	Herman Miller, Inc		1,786,729
9,900		Kimball International, Inc (Class B)		81,972
55,790	e	Tempur-Pedic International, Inc		435,720
		TOTAL FURNITURE AND FIXTURES		2,304,421
FURNITURE AND HOME FURNISHINGS STORES - 0.31%
16,900	*	hhgregg, Inc		169,000
113,847		Knoll, Inc		1,383,241
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		1,552,241
GENERAL BUILDING CONTRACTORS - 0.44%
19,900		Beazer Homes USA, Inc		110,843
46,913	*	Perini Corp		1,550,475
5,200		Walter Industries, Inc		565,604
		TOTAL GENERAL BUILDING CONTRACTORS		2,226,922
GENERAL MERCHANDISE STORES - 0.27%
36,800		Casey's General Stores, Inc		852,656
33,000	e*	Conn's, Inc		530,310
		TOTAL GENERAL MERCHANDISE STORES		1,382,966
HEALTH SERVICES - 0.79%
13,900	*	Amsurg Corp		338,465
50,200	e*	CryoLife, Inc		574,288
54,841	e*	Enzo Biochem, Inc		615,316
33,900	*	Five Star Quality Care, Inc		160,347
16,800	*	Genoptix, Inc		530,040
14,300	*	Healthsouth Corp		237,809
42,400	*	Immunomedics, Inc		90,312
23,700	*	LHC Group, Inc		551,025

50

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
6,100	*	Life Sciences Research, Inc	$	172,264
27,600	*	Nighthawk Radiology Holdings, Inc		195,408
3,283	*	Odyssey HealthCare, Inc		31,976
15,102	*	RehabCare Group, Inc		242,085
30,700	*	Stereotaxis, Inc		164,552
6,900	*	Virtual Radiologic Corp		91,425
		TOTAL HEALTH SERVICES		3,995,312
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.34%
27,578	e	Granite Construction, Inc		869,534
31,405	e*	Matrix Service Co		724,199
6,300	*	Sterling Construction Co, Inc		125,118
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		1,718,851
HOLDING AND OTHER INVESTMENT OFFICES - 6.32%
14,571	e	Agree Realty Corp		321,291
90,900	e	Anthracite Capital, Inc		639,936
70,000		Anworth Mortgage Asset Corp		455,700
130,000	e	Ashford Hospitality Trust, Inc		600,600
39,600		Capital Lease Funding, Inc		296,604
28,200		Cedar Shopping Centers, Inc		330,504
20,000		Corporate Office Properties Trust		686,600
145,991	e	DiamondRock Hospitality Co		1,589,842
20,000	e	EastGroup Properties, Inc		858,000
17,900	e	Entertainment Properties Trust		884,976
25,700	e	Equity Lifestyle Properties, Inc		1,130,800
25,600	e	Extra Space Storage, Inc		393,216
95,405	e	FelCor Lodging Trust, Inc		1,001,753
21,400		First Potomac Realty Trust		326,136
22,600		Glimcher Realty Trust		252,668
77,900	e	Hersha Hospitality Trust		588,145
44,500	e	Highwoods Properties, Inc		1,398,190
322		Home Properties, Inc		15,475
15,000		Investors Real Estate Trust		143,100
40,000		iShares Russell 2000 Index Fund		2,761,200
32,100		Kite Realty Group Trust		401,250
21,000		LTC Properties, Inc		536,760
105,000		MFA Mortgage Investments, Inc		684,600
34,673		Mid-America Apartment Communities, Inc		1,769,710
22,050	e	Mission West Properties, Inc		241,668
53,000	e	NorthStar Realty Finance Corp		440,960
26,180		Omega Healthcare Investors, Inc		435,897
12,600	e	Post Properties, Inc		374,850
33,739	e	Potlatch Corp		1,522,304
19,300		Prospect Capital Corp		254,374
35,806		PS Business Parks, Inc		1,847,590
23,100	e	Realty Income Corp		525,756
26,400		Saul Centers, Inc		1,240,536
58,200	e	Senior Housing Properties Trust		1,136,646
16,591		Sovran Self Storage, Inc		689,522
115,300	e	Strategic Hotels & Resorts, Inc		1,080,361
16,800		Sun Communities, Inc		306,264
110,150	e	Sunstone Hotel Investors, Inc		1,828,490
46,522	e	Tanger Factory Outlet Centers, Inc		1,671,535

51

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
32,057	e	Urstadt Biddle Properties, Inc (Class A)	$	469,956
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		32,133,765
HOTELS AND OTHER LODGING PLACES - 0.03%
21,300	*	Great Wolf Resorts, Inc		93,081
7,100	*	Riviera Holdings Corp		72,065
		TOTAL HOTELS AND OTHER LODGING PLACES		165,146
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.70%
42,800	e	Actuant Corp (Class A)		1,341,780
4,400		Alamo Group, Inc		90,596
36,400	e*	Altra Holdings, Inc		611,884
33,292		Ampco-Pittsburgh Corp		1,480,828
18,757	e*	Astec Industries, Inc		602,850
12,638		Black Box Corp		343,627
57,500	*	Cirrus Logic, Inc		319,700
25,200	*	Columbus McKinnon Corp		606,816
24,300	*	Cray, Inc		112,752
29,631	e	Curtiss-Wright Corp		1,325,691
10,400	*	Dril-Quip, Inc		655,200
115,900	*	Emulex Corp		1,350,235
41,274	*	ENGlobal Corp		587,742
47,014	e*	EnPro Industries, Inc		1,755,503
97,800	*	Extreme Networks, Inc		277,752
3,000		Graham Corp		222,330
31,000	e*	Intermec, Inc		653,480
3,900	*	Kadant, Inc		88,140
89,400	*	Kulicke & Soffa Industries, Inc		651,726
5,200	e	Lindsay Manufacturing Co		441,844
17,034		Lufkin Industries, Inc		1,418,592
51,256	*	Micros Systems, Inc		1,562,795
58,200	e	Modine Manufacturing Co		719,934
4,049		Nacco Industries, Inc (Class A)		301,043
11,898	e*	NATCO Group, Inc (Class A)		648,798
33,700	*	Netgear, Inc		467,082
13,000		NN, Inc		181,220
9,200		Nordson Corp		670,588
8,400	*	Oil States International, Inc		532,896
510,665	e*	Quantum Corp		689,398
42,300	*	Rackable Systems, Inc		566,820
639	*	Rimage Corp		7,917
59,800	*	Riverbed Technology, Inc		820,456
39,000		Robbins & Myers, Inc		1,944,930
87,200	e*	Safeguard Scientifics, Inc		108,128
24,600	e	Sauer-Danfoss, Inc		766,290
30,000	e*	Scansource, Inc		802,800
11,500		Standex International Corp		238,510
16,027	*	Super Micro Computer, Inc		118,279
10,500	*	T-3 Energy Services, Inc		834,435
18,900	e	Tennant Co		568,323
42,700		Woodward Governor Co		1,522,682
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		29,012,392

52

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
INSTRUMENTS AND RELATED PRODUCTS - 6.53%
20,000	*	Affymetrix, Inc	$	205,800
8,200		Analogic Corp		517,174
27,400	*	Anaren, Inc		289,618
14,400	*	Angiodynamics, Inc		196,128
48,400	*	Applera Corp		549,824
17,900	e*	Arthrocare Corp		730,499
18,192	*	Bio-Rad Laboratories, Inc (Class A)		1,471,551
71,608	*	Bruker BioSciences Corp		920,163
17,200	*	Cantel Medical Corp		174,064
40,900	*	Cepheid, Inc		1,150,108
46,370	*	Conmed Corp		1,231,124
63,000	e*	Cynosure, Inc (Class A)		1,248,660
11,500	*	Dionex Corp		763,255
6,500	*	Exactech, Inc		167,115
38,496	e*	FARO Technologies, Inc		968,944
26,300	*	Flir Systems, Inc		1,066,991
53,446	e*	Fossil, Inc		1,553,675
8,332	*	Haemonetics Corp		462,093
34,200	e*	I-Flow Corp		347,130
36,440	e*	II-VI, Inc		1,272,485
6,370	e*	Illumina, Inc		554,891
25,600	e	Invacare Corp		523,264
81,600	e*	ION Geophysical Corp		1,423,920
8,800	*	Kensey Nash Corp		282,040
19,200	*	Lydall, Inc		240,960
32,000	e*	Masimo Corp		1,099,200
13,400	*	Medical Action Industries, Inc		138,958
74,701	*	Merit Medical Systems, Inc		1,098,105
28,200	e	Mine Safety Appliances Co		1,127,718
367	*	MKS Instruments, Inc		8,037
54,732	e	Movado Group, Inc		1,083,694
31,966	e	MTS Systems Corp		1,146,940
20,800	*	NxStage Medical, Inc		79,872
8,000	e*	Rofin-Sinar Technologies, Inc		241,600
11,400	*	Somanetics Corp		241,680
6,200	*	SonoSite, Inc		173,662
74,344		STERIS Corp		2,138,133
8,700	*	Synovis Life Technologies, Inc		163,821
42,479	*	Teledyne Technologies, Inc		2,072,550
36,719	*	Varian, Inc		1,874,872
96,064	e*	Vivus, Inc		641,708
11,400	*	Vnus Medical Technologies, Inc		228,114
29,200	*	Volcano Corp		356,240
27,915	e*	Zoll Medical Corp		939,898
3,352	*	Zygo Corp		32,950
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		33,199,228
INSURANCE AGENTS, BROKERS AND SERVICE - 0.09%
474		Hilb Rogal & Hobbs Co		20,600
21,000	e	National Financial Partners Corp		416,220
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		436,820
INSURANCE CARRIERS - 3.87%
61,440	*	AMERIGROUP Corp		1,277,952

53

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
85,315	*	Amerisafe, Inc	$	1,359,921
15,673	*	Argo Group International Holdings Ltd		525,986
64,600	e	Aspen Insurance Holdings Ltd		1,529,082
51,500	e	Assured Guaranty Ltd		926,485
15,700		Castlepoint Holdings Ltd		142,713
84,200	*	Centene Corp		1,413,718
50,800	e*	CNA Surety Corp		642,112
34,700	*	Darwin Professional Underwriters, Inc		1,068,760
44,200	*	Hallmark Financial Services		427,414
32,600	*	HealthExtras, Inc		982,564
69,263	*	Healthspring, Inc		1,169,159
45,200		Meadowbrook Insurance Group, Inc		239,560
41,903	e*	Molina Healthcare, Inc		1,019,919
6,100	e	National Interstate Corp		112,118
12,164	*	Navigators Group, Inc		657,464
45,109	e	Odyssey Re Holdings Corp		1,601,370
54,400		Platinum Underwriters Holdings Ltd		1,773,984
16,100	*	PMA Capital Corp (Class A)		148,281
2,031		Presidential Life Corp		31,318
66,322	e*	Primus Guaranty Ltd		192,997
11,300	*	SeaBright Insurance Holdings, Inc		163,624
6,700		Tower Group, Inc		141,973
68,482	e*	Universal American Financial Corp		699,886
67,400	e	Validus Holdings Ltd		1,432,250
		TOTAL INSURANCE CARRIERS		19,680,610
LEATHER AND LEATHER PRODUCTS - 0.33%
22,800	*	Steven Madden Ltd		419,064
46,300		Wolverine World Wide, Inc		1,234,821
		TOTAL LEATHER AND LEATHER PRODUCTS		1,653,885
LEGAL SERVICES - 0.11%
13,806	e*	Pre-Paid Legal Services, Inc		560,800
		TOTAL LEGAL SERVICES		560,800
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.10%
22,600	e*	Emergency Medical Services Corp (Class A)		511,438
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		511,438
LUMBER AND WOOD PRODUCTS - 0.07%
63,100	e*	Champion Enterprises, Inc		369,135
		TOTAL LUMBER AND WOOD PRODUCTS		369,135
METAL MINING - 0.63%
2,000	e*	Apex Silver Mines Ltd		9,820
28,400	e*	Coeur d'Alene Mines Corp		82,360
123,700	e*	Hecla Mining Co		1,145,462
69,600	*	Rosetta Resources, Inc		1,983,600
		TOTAL METAL MINING		3,221,242
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.58%
43,115		Blyth, Inc		518,673
102,700	e	Callaway Golf Co		1,214,941
25,200	e*	Jakks Pacific, Inc		550,620

54

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
74,600		Nautilus, Inc	$	378,968
7,288	*	RC2 Corp		135,265
26,900	*	Shuffle Master, Inc		132,886
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		2,931,353
MISCELLANEOUS RETAIL - 1.12%
114,291	*	1-800-FLOWERS.COM, Inc (Class A)		737,177
12,000		Cash America International, Inc		372,000
110,791	*	Ezcorp, Inc (Class A)		1,412,585
28,400	*	Fuqi International, Inc		248,784
31,300		Longs Drug Stores Corp		1,318,043
14,400	*	PC Connection, Inc		134,064
16,400	*	PC Mall, Inc		222,384
52,461	e	Systemax, Inc		925,937
15,300		World Fuel Services Corp		335,682
		TOTAL MISCELLANEOUS RETAIL		5,706,656
MOTION PICTURES - 0.17%
102,148	e*	Blockbuster, Inc (Class A)		255,370
6,417	e*	Macrovision Solutions Corp		95,998
35,100		National CineMedia, Inc		374,166
7,636	e*	tw telecom inc		122,405
		TOTAL MOTION PICTURES		847,939
NONDEPOSITORY INSTITUTIONS - 0.23%
55,992	e	Advance America Cash Advance Centers, Inc		284,439
15,100	*	Encore Capital Group, Inc		133,333
19,200		Kohlberg Capital Corp		192,000
12,000	*	Mitcham Industries, Inc		204,960
12,500		Patriot Capital Funding, Inc		78,125
40,200	*	thinkorswim Group, Inc		283,410
		TOTAL NONDEPOSITORY INSTITUTIONS		1,176,267
NONMETALLIC MINERALS, EXCEPT FUELS - 0.30%
18,800		Compass Minerals International, Inc		1,514,528
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		1,514,528
OIL AND GAS EXTRACTION - 6.16%
83,700	*	Abraxas Petroleum Corp		452,817
11,500	*	Approach Resources, Inc		308,085
20,034	*	ATP Oil & Gas Corp		790,742
4,900	*	Atwood Oceanics, Inc		609,266
47,900	*	Basic Energy Services, Inc		1,508,850
26,600	e	Berry Petroleum Co (Class A)		1,566,208
13,420	e*	Clayton Williams Energy, Inc		1,475,529
21,000	*	Complete Production Services, Inc		764,820
24,236	*	Comstock Resources, Inc		2,046,245
31,300	*	Concho Resources, Inc		1,167,490
14,385	*	Dawson Geophysical Co		855,332
7,100	*	Encore Acquisition Co		533,849
99,200	*	Endeavour International Corp		215,264
120,077	*	Energy Partners Ltd		1,791,549
96,600	*	Energy XXI Bermuda Ltd		668,472
23,300	*	Gasco Energy, Inc		96,695

55

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
5,200	*	Geokinetics, Inc	$	94,172
153,968	e*	Grey Wolf, Inc		1,390,331
29,700	e*	Mariner Energy, Inc		1,098,009
30,686	e*	McMoRan Exploration Co		844,479
93,600	*	Meridian Resource Corp		276,120
3,000		Panhandle Oil and Gas, Inc		101,580
25,500		Penn Virginia Corp		1,923,210
500	m,v*	Petrocorp, Inc		0
12,891	*	PetroHawk Energy Corp		596,982
48,182	*	Petroquest Energy, Inc		1,296,096
32,200	*	Quest Resource Corp		367,402
35,700	*	Stone Energy Corp		2,352,987
33,700	e*	Swift Energy Co		2,226,222
22,200	*	Union Drilling, Inc		481,296
23,400	e*	Vaalco Energy, Inc		198,198
17,600	*	W-H Energy Services, Inc		1,685,024
5,127	*	Whiting Petroleum Corp		543,872
23,500	*	Willbros Group, Inc		1,029,535
		TOTAL OIL AND GAS EXTRACTION		31,356,728
PAPER AND ALLIED PRODUCTS - 0.39%
24,956	*	Buckeye Technologies, Inc		211,128
8,743		Greif, Inc (Class A)		559,814
39,773	e	Rock-Tenn Co (Class A)		1,192,792
		TOTAL PAPER AND ALLIED PRODUCTS		1,963,734
PERSONAL SERVICES - 0.05%
36,200	*	Sally Beauty Holdings, Inc		233,852
		TOTAL PERSONAL SERVICES		233,852
PETROLEUM AND COAL PRODUCTS - 0.37%
57,400	e	Alon USA Energy, Inc		686,504
39,070	e*	CVR Energy, Inc		752,097
46,600		Delek US Holdings, Inc		429,186
		TOTAL PETROLEUM AND COAL PRODUCTS		1,867,787
PRIMARY METAL INDUSTRIES - 1.58%
49,194	e	Belden CDT, Inc		1,666,693
11,600	e*	Century Aluminum Co		771,284
24,600	*	General Steel Holdings, Inc		386,712
12,327	e	Matthews International Corp (Class A)		557,920
51,254		Mueller Industries, Inc		1,650,379
11,500		Olympic Steel, Inc		873,080
9,600	e	Schnitzer Steel Industries, Inc (Class A)		1,100,160
7,400	*	Superior Essex, Inc		330,262
10,942	e*	Universal Stainless & Alloy		405,292
15,000	e	Worthington Industries, Inc		307,500
		TOTAL PRIMARY METAL INDUSTRIES		8,049,282
PRINTING AND PUBLISHING - 1.06%
7,900	*	ACCO Brands Corp		88,717
52,600	e	Bowne & Co, Inc		670,650
27,759	*	Consolidated Graphics, Inc		1,367,686
7,500		CSS Industries, Inc		181,650

56

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
66,300		Ennis, Inc	$	1,037,595
19,400	e	Standard Register Co		182,942
72,100	e*	Valassis Communications, Inc		902,692
36,200	e*	VistaPrint Ltd		968,712
		TOTAL PRINTING AND PUBLISHING		5,400,644
REAL ESTATE - 0.13%
60,000	e*	LoopNet, Inc		678,000
1		Stewart Enterprises, Inc (Class A)		7
		TOTAL REAL ESTATE		678,007
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 1.03%
9,300	*	Deckers Outdoor Corp		1,294,560
15,236		Schulman (A.), Inc		350,885
40,900	*	Skechers U.S.A., Inc (Class A)		808,184
61,900		Tupperware Corp		2,118,218
15,800		West Pharmaceutical Services, Inc		683,824
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		5,255,671
SECURITY AND COMMODITY BROKERS - 1.55%
10,900	*	Duff & Phelps Corp		180,504
62,100	e	Evercore Partners, Inc (Class A)		589,950
25,600	e*	FCStone Group, Inc		715,008
17,400	e	GAMCO Investors, Inc (Class A)		863,388
111,628	e	GFI Group, Inc		1,005,768
32,974	e*	Interactive Brokers Group, Inc (Class A)		1,059,455
73,900	*	Knight Capital Group, Inc (Class A)		1,328,722
19,100	*	LaBranche & Co, Inc		135,228
16,300	e	optionsXpress Holdings, Inc		364,142
28,350	*	Stifel Financial Corp		974,956
39,582	e	SWS Group, Inc		657,457
		TOTAL SECURITY AND COMMODITY BROKERS		7,874,578
SOCIAL SERVICES - 0.03%
16,900	*	Capital Senior Living Corp		127,426
1,813	*	Res-Care, Inc		32,235
		TOTAL SOCIAL SERVICES		159,661
SPECIAL TRADE CONTRACTORS - 1.11%
66,771	e*	AsiaInfo Holdings, Inc		789,233
25,651	e	Chemed Corp		939,083
108,999		Comfort Systems USA, Inc		1,464,947
86,020	*	EMCOR Group, Inc		2,454,151
		TOTAL SPECIAL TRADE CONTRACTORS		5,647,414
STONE, CLAY, AND GLASS PRODUCTS - 0.25%
61,400	e	Apogee Enterprises, Inc		992,224
37,000		Libbey, Inc		275,280
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		1,267,504
TEXTILE MILL PRODUCTS - 0.07%
91,200		Xerium Technologies, Inc		361,152
		TOTAL TEXTILE MILL PRODUCTS		361,152

57

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
TOBACCO PRODUCTS - 0.18%
20,000	e	Universal Corp	$	904,400
		TOTAL TOBACCO PRODUCTS		904,400
TRANSPORTATION BY AIR - 0.19%
12,600	e*	Allegiant Travel Co		234,234
1,020	e*	PHI, Inc		40,973
23,500	e*	Republic Airways Holdings, Inc		203,510
14,691	e	Skywest, Inc		185,841
55,100		UAL Corp		287,622
		TOTAL TRANSPORTATION BY AIR		952,180
TRANSPORTATION EQUIPMENT - 2.14%
31,952	e	American Railcar Industries, Inc		536,155
26,338	e*	Amerigon, Inc		187,263
63,600	e	ArvinMeritor, Inc		793,728
21,000	*	ATC Technology Corp		488,880
114,154	e*	Cogo Group, Inc		1,039,943
17,700		Ducommun, Inc		406,392
14,100	e	Heico Corp		458,814
6,100	*	LMI Aerospace, Inc		107,177
46,253	e*	Orbital Sciences Corp		1,089,721
26,552	e	Polaris Industries, Inc		1,072,170
27,400	e	Spartan Motors, Inc		204,678
49,400	e*	Tenneco, Inc		668,382
25,135	e	Triumph Group, Inc		1,183,858
195,900	e*	Visteon Corp		515,217
44,300		Westinghouse Air Brake Technologies Corp		2,153,866
		TOTAL TRANSPORTATION EQUIPMENT		10,906,244
TRANSPORTATION SERVICES - 0.93%
5,600	e*	Dynamex, Inc		150,136
48,317	*	HUB Group, Inc (Class A)		1,649,059
67,933	*	Lear Corp		963,290
92,267		Pacer International, Inc		1,984,663
		TOTAL TRANSPORTATION SERVICES		4,747,148
TRUCKING AND WAREHOUSING - 0.23%
24,836	e	Arkansas Best Corp		909,991
10,900	*	Saia, Inc		119,028
7,700	*	YRC Worldwide, Inc		114,499
		TOTAL TRUCKING AND WAREHOUSING		1,143,518
WATER TRANSPORTATION - 0.59%
16,300	e	Genco Shipping & Trading Ltd		1,062,760
8,700	*	International Shipholding Corp		203,928
27,400	e*	TBS International Ltd (Class A)		1,094,630
22,500	e	Teekay Tankers Ltd		522,225
10,000	e*	Ultrapetrol Bahamas Ltd		126,100
		TOTAL WATER TRANSPORTATION		3,009,643
WHOLESALE TRADE-DURABLE GOODS - 1.81%
66,599	e	Applied Industrial Technologies, Inc		1,609,698
59,400	e	Barnes Group, Inc		1,371,546

58

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Equity Fund
SHARES		COMPANY		VALUE
20,700		Castle (A.M.) & Co	$	592,227
15,800	*	Digi International, Inc		124,030
44,500	e*	Drew Industries, Inc		709,775
18,455	e	Houston Wire & Cable Co		367,255
57,900		IKON Office Solutions, Inc		653,112
11,300	*	Insight Enterprises, Inc		132,549
17,094	e*	MWI Veterinary Supply, Inc		565,982
38,800	e	Owens & Minor, Inc		1,772,772
52,865	*	PSS World Medical, Inc		861,699
16,800	*	Solera Holdings, Inc		464,688
		TOTAL WHOLESALE TRADE-DURABLE GOODS		9,225,333
WHOLESALE TRADE-NONDURABLE GOODS - 0.59%
15,000	e*	Fresh Del Monte Produce, Inc		353,550
33,700	e*	LSB Industries, Inc		667,260
74,043		Spartan Stores, Inc		1,702,989
6,903	*	United Stationers, Inc		255,066
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,978,865
		TOTAL COMMON STOCKS		504,039,374
		(Cost $537,383,773)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 22.29%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.58%
$      2,960,000		Federal Home Loan Bank (FHLB), 07/01/08		2,960,000
				2,960,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 21.71%
110,412,984		State Street Navigator Securities Lending Prime Portfolio		110,412,984
				110,412,984
		TOTAL SHORT-TERM INVESTMENTS		113,372,984
		(Cost $113,372,984)
		TOTAL PORTFOLIO - 121.38%		617,412,358
		(Cost $650,756,757)
		OTHER ASSETS & LIABILITIES, NET - (21.38)%		(108,748,387	)
		NET ASSETS - 100.00%	$	508,663,971
	*	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 $580,000.
	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 June 30, 2008, the net unrealized depreciation on investments was $33,344,399,
		consisting of gross unrealized appreciation of $38,212,842 and gross unrealized depreciation of
		$71,557,241.

59

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

	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE	DATE	(DEPRECIATION)
E-mini Russell 2000 Index	39	$      2,697,630	September 2008	$	(47,307)

60

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.68%
AMUSEMENT AND RECREATION SERVICES - 0.29%
16,692	*	Activision, Inc	$	568,696
3,862	*	Penn National Gaming, Inc		124,163
12,430		Walt Disney Co		387,816
831	e	Warner Music Group Corp		5,933
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,086,608
APPAREL AND ACCESSORY STORES - 0.60%
4,668		Abercrombie & Fitch Co (Class A)		292,590
6,935		American Eagle Outfitters, Inc		94,524
1,413	e*	AnnTaylor Stores Corp		33,855
13,531		Gap, Inc		225,562
5,414	e*	Hanesbrands, Inc		146,936
13,282	*	Kohl's Corp		531,811
10,560		Limited Brands, Inc		177,936
10,343	e	Nordstrom, Inc		313,393
7,502		Ross Stores, Inc		266,471
6,167	e*	Urban Outfitters, Inc		192,349
		TOTAL APPAREL AND ACCESSORY STORES		2,275,427
APPAREL AND OTHER TEXTILE PRODUCTS - 0.11%
3,392		Guess ?, Inc		127,030
2,594		Phillips-Van Heusen Corp		94,992
3,192	e	Polo Ralph Lauren Corp		200,394
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		422,416
AUTO REPAIR, SERVICES AND PARKING - 0.02%
1,148	*	Hertz Global Holdings, Inc		11,021
1,061		Ryder System, Inc		73,082
		TOTAL AUTO REPAIR, SERVICES AND PARKING		84,103
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.22%
5,288		Advance Auto Parts		205,333
2,358	*	Autozone, Inc		285,342
11,872	e*	Carmax, Inc		168,464
3,526	*	Copart, Inc		150,983
1,833	*	O'Reilly Automotive, Inc		40,968
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		851,090
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.11%
7,266	e	Fastenal Co		313,601
4,178		Lowe's Cos, Inc		86,694
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		400,295
BUSINESS SERVICES - 12.05%
33,598		Accenture Ltd (Class A)		1,368,111
29,796	*	Adobe Systems, Inc		1,173,664

61

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,467	*	Affiliated Computer Services, Inc (Class A)	$	78,470
9,077	*	Akamai Technologies, Inc		315,789
4,463	e*	Alliance Data Systems Corp		252,383
4,781	*	Amdocs Ltd		140,657
4,410	*	Ansys, Inc		207,799
12,424	*	Autodesk, Inc		420,055
29,163		Automatic Data Processing, Inc		1,221,930
10,748	*	BMC Software, Inc		386,928
2,391		Brink's Co		156,419
10,231		CA, Inc		236,234
3,806	e*	Cerner Corp		171,955
3,571	*	ChoicePoint, Inc		172,122
10,182	*	Citrix Systems, Inc		299,453
2,482	e*	Clear Channel Outdoor Holdings, Inc (Class A)		44,254
16,248	*	Cognizant Technology Solutions Corp (Class A)		528,222
9,321	*	Compuware Corp		88,922
2,073	e*	DST Systems, Inc		114,119
62,477	*	eBay, Inc		1,707,496
17,911	*	Electronic Arts, Inc		795,786
3,959		Equifax, Inc		133,102
1,839	*	Equinix, Inc		164,076
4,567	e*	F5 Networks, Inc		129,794
2,285	e	Factset Research Systems, Inc		128,783
2,488		Fidelity National Information Services, Inc		91,832
9,045	*	Fiserv, Inc		410,372
13,321	*	Google, Inc (Class A)		7,012,441
3,377	e*	HLTH Corp		38,228
2,435	*	IHS, Inc (Class A)		169,476
2,297		IMS Health, Inc		53,520
22,727	e*	Interpublic Group of Cos, Inc		195,452
18,494	*	Intuit, Inc		509,880
9,770	e*	Iron Mountain, Inc		259,394
29,534	*	Juniper Networks, Inc		655,064
3,182	e*	Kinetic Concepts, Inc		126,994
4,235	e*	Lamar Advertising Co (Class A)		152,587
341		Manpower, Inc		19,860
4,101	e	Mastercard, Inc (Class A)		1,088,898
8,351	*	McAfee, Inc		284,185
451,568	d	Microsoft Corp		12,422,636
7,161	e*	Monster Worldwide, Inc		147,588
5,566	*	NAVTEQ Corp		428,582
8,483	*	NCR Corp		213,772
8,943	*	Novell, Inc		52,674
9,689	*	Nuance Communications, Inc		151,827
16,834		Omnicom Group, Inc		755,510
219,061	*	Oracle Corp		4,600,281
10,222	e*	Red Hat, Inc		211,493
7,798		Robert Half International, Inc		186,918
5,913	*	Salesforce.com, Inc		403,444
1,592	*	Sohu.com, Inc		112,140
9,531		Total System Services, Inc		211,779
11,026	*	Unisys Corp		43,553
10,713	e*	VeriSign, Inc		404,951
25,180		Visa, Inc (Class A)		2,047,386

62

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,334	e*	VMware, Inc (Class A)	$	125,709
7,843		Waste Management, Inc		295,760
322	e*	WebMD Health Corp (Class A)		8,984
77,509	*	Yahoo!, Inc		1,601,336
		TOTAL BUSINESS SERVICES		45,931,029
CHEMICALS AND ALLIED PRODUCTS - 9.67%
86,655		Abbott Laboratories		4,590,115
471	*	Abraxis Bioscience, Inc		29,890
11,850		Air Products & Chemicals, Inc		1,171,491
5,148		Albemarle Corp		205,457
709		Alberto-Culver Co		18,625
1,411	e*	APP Pharmaceuticals, Inc		23,592
23,896		Avon Products, Inc		860,734
1,797	*	Barr Pharmaceuticals, Inc		81,009
16,320	*	Biogen Idec, Inc		912,125
5,545	*	BioMarin Pharmaceuticals, Inc		160,694
101,668		Bristol-Myers Squibb Co		2,087,244
7,389		Celanese Corp (Series A)		337,382
3,792	e*	Cephalon, Inc		252,888
3,171		CF Industries Holdings, Inc		484,529
1,739	*	Charles River Laboratories International, Inc		111,157
630		Chemtura Corp		3,679
3,737		Church & Dwight Co, Inc		210,580
2,395		Clorox Co		125,019
28,470		Colgate-Palmolive Co		1,967,277
9,811		Ecolab, Inc		421,775
5,337		Eli Lilly & Co		246,356
5,509	e	Estee Lauder Cos (Class A)		255,893
1,629		FMC Corp		126,150
1,494	*	Forest Laboratories, Inc		51,902
26,128	*	Genentech, Inc		1,983,115
15,018	*	Genzyme Corp		1,081,596
51,888	*	Gilead Sciences, Inc		2,747,470
1,333	e*	Hospira, Inc		53,467
990		Huntsman Corp		11,286
3,274	*	Idexx Laboratories, Inc		159,575
2,086	e*	ImClone Systems, Inc		84,400
4,471		International Flavors & Fragrances, Inc		174,637
2,210	*	Inverness Medical Innovations, Inc		73,306
1,696	e*	Invitrogen Corp		66,585
34,535		Merck & Co, Inc		1,301,624
30,866		Monsanto Co		3,902,697
8,734		Mosaic Co		1,263,810
3,137	e	Mylan Laboratories, Inc		37,864
7,960	e	Nalco Holding Co		168,354
1,495	*	NBTY, Inc		47,930
4,386		Perrigo Co		139,343
929		PPG Industries, Inc		53,297
17,610		Praxair, Inc		1,659,566
63,710		Procter & Gamble Co		3,874,205
6,270	e	Rohm & Haas Co		291,179
91,207		Schering-Plough Corp		1,795,866
1,916		Scotts Miracle-Gro Co (Class A)		33,664

63

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,492	e*	Sepracor, Inc	$	109,401
5,626	e	Sherwin-Williams Co		258,402
3,820		Sigma-Aldrich Corp		205,745
4,602	e*	VCA Antech, Inc		127,844
7,776	*	Vertex Pharmaceuticals, Inc		260,263
4,661	*	Warner Chilcott Ltd (Class A)		79,004
3,042	*	Watson Pharmaceuticals, Inc		82,651
		TOTAL CHEMICALS AND ALLIED PRODUCTS		36,863,709
COAL MINING - 1.03%
3,956	*	Alpha Natural Resources, Inc		412,571
8,105	e	Arch Coal, Inc		608,118
10,281		Consol Energy, Inc		1,155,276
4,467		Massey Energy Co		418,781
15,273		Peabody Energy Corp		1,344,788
		TOTAL COAL MINING		3,939,534
COMMUNICATIONS - 1.81%
22,308	*	American Tower Corp (Class A)		942,513
2,024	*	Central European Media Enterprises Ltd (Class A)		183,233
3,962	e*	Citizens Communications Co		44,929
3,380	*	Clearwire Corp (Class A)		43,805
46,059		Comcast Corp (Class A)		873,739
3,533	*	Crown Castle International Corp		136,833
2,829	*	CTC Media, Inc		69,763
33,679	*	DIRECTV Group, Inc		872,623
11,569	*	DISH Network Corp (Class A)		338,740
4,109		Embarq Corp		194,232
4,462		Global Payments, Inc		207,929
1,341	*	IAC/InterActiveCorp		25,854
306	e*	Leap Wireless International, Inc		13,210
84,685	e*	Level 3 Communications, Inc		249,821
9,181	e*	Liberty Global, Inc (Class A)		288,559
29,061	*	Liberty Media Corp - Entertainment (Series A)		704,148
13,707	e*	MetroPCS Communications, Inc		242,751
4,034	*	NeuStar, Inc (Class A)		86,973
9,434	*	NII Holdings, Inc		448,021
42,004		Qwest Communications International, Inc		165,076
6,108	*	SBA Communications Corp (Class A)		219,949
2,432		Telephone & Data Systems, Inc		114,961
4,694	e*	Time Warner Cable, Inc (Class A)		124,297
236	*	US Cellular Corp		13,346
12,542	e	Windstream Corp		154,768
16,944	e*	XM Satellite Radio Holdings, Inc (Class A)		132,841
		TOTAL COMMUNICATIONS		6,892,914
DEPOSITORY INSTITUTIONS - 0.65%
486	e	Capitol Federal Financial		18,278
10,168		Hudson City Bancorp, Inc		169,602
5,055	*	Metavante Technologies, Inc		114,344
11,180		Northern Trust Corp		766,613
5,829		State Street Corp		372,998
41,624		Western Union Co		1,028,945
		TOTAL DEPOSITORY INSTITUTIONS		2,470,780

64

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
EATING AND DRINKING PLACES - 1.54%
5,724		Brinker International, Inc	$	108,184
4,513		Burger King Holdings, Inc		120,903
1,854	*	Chipotle Mexican Grill, Inc (Class A)		153,177
7,680		Darden Restaurants, Inc		245,299
57,830		McDonald's Corp		3,251,203
40,206	*	Starbucks Corp		632,842
10,590	e	Tim Hortons, Inc		303,827
4,738	e	Wendy's International, Inc		128,968
26,644		Yum! Brands, Inc		934,938
		TOTAL EATING AND DRINKING PLACES		5,879,341
EDUCATIONAL SERVICES - 0.23%
7,661	*	Apollo Group, Inc (Class A)		339,076
3,448		DeVry, Inc		184,882
2,210	e*	ITT Educational Services, Inc		182,612
799		Strayer Education, Inc		167,047
		TOTAL EDUCATIONAL SERVICES		873,617
ELECTRIC, GAS, AND SANITARY SERVICES - 2.79%
37,780	*	AES Corp		725,754
9,454		Allegheny Energy, Inc		473,740
19,910	*	Calpine Corp		449,170
11,686		Centerpoint Energy, Inc		187,560
9,179		Constellation Energy Group, Inc		753,596
6,608	*	Covanta Holding Corp		176,368
546	e	DPL, Inc		14,403
8,447		El Paso Corp		183,638
761		Energen Corp		59,381
7,611		Entergy Corp		916,973
18,450		Exelon Corp		1,659,762
7,704	e*	Mirant Corp		301,612
5,004	*	NRG Energy, Inc		214,672
20,984		PPL Corp		1,096,834
28,605		Public Service Enterprise Group, Inc		1,313,828
3,693		Questar Corp		262,351
8,065	e	Republic Services, Inc		239,531
2,965		Sierra Pacific Resources		37,685
4,795	*	Stericycle, Inc		247,902
32,864		Williams Cos, Inc		1,324,748
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		10,639,508
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 10.76%
4,708	e*	Advanced Micro Devices, Inc		27,448
16,880		Altera Corp		349,416
5,998		Ametek, Inc		283,226
9,805		Amphenol Corp (Class A)		440,048
16,367		Analog Devices, Inc		519,980
49,591	*	Apple Computer, Inc		8,303,517
15,992	*	Atmel Corp		55,652
3,711	*	Avnet, Inc		101,236
853	e	AVX Corp		9,647
28,919	*	Broadcom Corp (Class A)		789,200

65

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,386	*	Ciena Corp	$	101,624
332,274	*	Cisco Systems, Inc		7,728,693
7,447		Cooper Industries Ltd (Class A)		294,157
2,080	e*	Cree, Inc		47,445
8,653	*	Cypress Semiconductor Corp		214,162
2,837	*	Dolby Laboratories, Inc (Class A)		114,331
4,185		Eaton Corp		355,599
305	e*	EchoStar Corp (Class A)		9,522
3,233	*	Energizer Holdings, Inc		236,300
2,512	*	First Solar, Inc		685,324
2,484	e	Harman International Industries, Inc		102,813
7,380		Harris Corp		372,616
41,711		Honeywell International, Inc		2,097,229
3,138	*	Integrated Device Technology, Inc		31,192
278,614		Intel Corp		5,984,629
681	*	International Rectifier Corp		13,075
2,645		Intersil Corp (Class A)		64,326
6,905	e*	JDS Uniphase Corp		78,441
5,346		L-3 Communications Holdings, Inc		485,791
1,687		Lincoln Electric Holdings, Inc		132,767
12,294	e	Linear Technology Corp		400,416
27,198	e*	LSI Logic Corp		166,996
27,278	*	Marvell Technology Group Ltd		481,729
12,813	*	MEMC Electronic Materials, Inc		788,512
10,258	e	Microchip Technology, Inc		313,279
5,659	e*	Micron Technology, Inc		33,954
2,545	e	Molex, Inc		62,123
13,908		National Semiconductor Corp		285,670
19,331	*	NetApp, Inc		418,709
1,826	e*	Novellus Systems, Inc		38,693
31,198	*	Nvidia Corp		584,027
22,318	*	ON Semiconductor Corp		204,656
90,836		Qualcomm, Inc		4,030,393
5,879	e*	Rambus, Inc		112,113
3,086	*	Silicon Laboratories, Inc		111,374
79,699	e*	Sirius Satellite Radio, Inc		153,022
2,268	e*	Sunpower Corp (Class A)		163,251
74,407		Texas Instruments, Inc		2,095,301
4,091	*	Varian Semiconductor Equipment Associates, Inc		142,449
15,858		Xilinx, Inc		400,415
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		41,016,488
ENGINEERING AND MANAGEMENT SERVICES - 1.64%
5,102	*	Aecom Technology Corp		165,968
7,709	e*	Amylin Pharmaceuticals, Inc		195,732
24,514	*	Celgene Corp		1,565,709
1,861		Corporate Executive Board Co		78,255
4,990		Fluor Corp		928,539
3,246	e*	Genpact Ltd		48,430
3,045	*	Gen-Probe, Inc		144,577
5,482	*	Hewitt Associates, Inc (Class A)		210,125
6,851	*	Jacobs Engineering Group, Inc		552,876
7,749		KBR, Inc		270,518
12,739	*	McDermott International, Inc		788,417

66

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
18,199		Paychex, Inc	$	569,265
7,303	e	Quest Diagnostics, Inc		353,976
1,736	*	SAIC, Inc		36,126
4,662	e*	Shaw Group, Inc		288,065
827	*	URS Corp		34,709
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		6,231,287
FABRICATED METAL PRODUCTS - 0.33%
842	e*	Alliant Techsystems, Inc		85,615
716		Aptargroup, Inc		30,036
921		Ball Corp		43,969
8,777	*	Crown Holdings, Inc		228,114
1,432		Illinois Tool Works, Inc		68,034
9,432		Parker Hannifin Corp		672,690
1,064		Valmont Industries, Inc		110,965
		TOTAL FABRICATED METAL PRODUCTS		1,239,423
FOOD AND KINDRED PRODUCTS - 3.65%
22,138		Anheuser-Busch Cos, Inc		1,375,213
6,263		Campbell Soup Co		209,560
92,111		Coca-Cola Co		4,787,930
1,586		General Mills, Inc		96,381
9,687		H.J. Heinz Co		463,523
3,985	e*	Hansen Natural Corp		114,848
4,537	e	Hershey Co		148,723
8,066		Kellogg Co		387,329
2,487		McCormick & Co, Inc		88,686
83,872		PepsiCo, Inc		5,333,420
1,742		Tyson Foods, Inc (Class A)		26,025
11,497		Wrigley (Wm.) Jr Co		894,237
		TOTAL FOOD AND KINDRED PRODUCTS		13,925,875
FOOD STORES - 0.19%
16,418		Kroger Co		473,988
1,390	e*	Panera Bread Co (Class A)		64,301
7,746	e	Whole Foods Market, Inc		183,503
		TOTAL FOOD STORES		721,792
FORESTRY - 0.00%**
248		Rayonier, Inc		10,530
		TOTAL FORESTRY		10,530
FURNITURE AND FIXTURES - 0.04%
771	e	Hill-Rom Holdings, Inc		20,802
5,105		Johnson Controls, Inc		146,411
		TOTAL FURNITURE AND FIXTURES		167,213
FURNITURE AND HOMEFURNISHINGS STORES - 0.19%
12,123	*	Bed Bath & Beyond, Inc		340,656
9,186	*	GameStop Corp (Class A)		371,114
947	e	Williams-Sonoma, Inc		18,788
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		730,558

67

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
GENERAL BUILDING CONTRACTORS - 0.09%
22	e*	NVR, Inc	$	11,002
2,922	e	Pulte Homes, Inc		28,139
2,945		Walter Industries, Inc		320,328
		TOTAL GENERAL BUILDING CONTRACTORS		359,469
GENERAL MERCHANDISE STORES - 2.68%
4,310	e*	Big Lots, Inc		134,644
24,370		Costco Wholesale Corp		1,709,312
720	e	Family Dollar Stores, Inc		14,357
41,077		Target Corp		1,909,670
23,545		TJX Cos, Inc		740,961
101,746		Wal-Mart Stores, Inc		5,718,125
		TOTAL GENERAL MERCHANDISE STORES		10,227,069
HEALTH SERVICES - 1.29%
1,102		AmerisourceBergen Corp		44,069
2,192		Cigna Corp		77,575
1,023	*	Community Health Systems, Inc		33,739
3,420	*	Covance, Inc		294,188
1,746	*	Coventry Health Care, Inc		53,113
4,903	*	DaVita, Inc		260,496
3,277	*	Edwards Lifesciences Corp		203,305
12,023	*	Express Scripts, Inc		754,083
8,799	*	Health Management Associates, Inc (Class A)		57,281
6,214	*	Laboratory Corp of America Holdings		432,681
3,851	*	Lincare Holdings, Inc		109,368
11,201		McKesson Corp		626,248
28,638	*	Medco Health Solutions, Inc		1,351,714
440	e	Omnicare, Inc		11,537
2,302	*	Pediatrix Medical Group, Inc		113,327
6,012		Pharmaceutical Product Development, Inc		257,915
15,314	e*	Tenet Healthcare Corp		85,146
2,871	*	WellPoint, Inc		136,832
		TOTAL HEALTH SERVICES		4,902,617
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.16%
8,110	*	Foster Wheeler Ltd		593,247
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		593,247
HOLDING AND OTHER INVESTMENT OFFICES - 1.55%
2,212	*	Affiliated Managers Group, Inc		199,213
1,564	e	Apartment Investment & Management Co (Class A)		53,270
1,818		Camden Property Trust		80,465
2,524		Digital Realty Trust, Inc		103,257
370	e	Essex Property Trust, Inc		39,405
1,068	e	Federal Realty Investment Trust		73,692
7,057	e	General Growth Properties, Inc		247,207
1,505		HCP, Inc		47,874
742		Health Care REIT, Inc		33,019
56,063	e	iShares Russell 1000 Growth Index Fund		3,096,920
238	e	Kilroy Realty Corp		11,193
4,087		Macerich Co		253,925
494		Nationwide Health Properties, Inc		15,556
3,141	e	Plum Creek Timber Co, Inc		134,152

68

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
12,641		Simon Property Group, Inc	$	1,136,299
2,968	e	Taubman Centers, Inc		144,393
1,285		Ventas, Inc		54,702
3,689		WABCO Holdings, Inc		171,391
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		5,895,933
HOTELS AND OTHER LODGING PLACES - 0.46%
398	e	Boyd Gaming Corp		4,999
759	e	Choice Hotels International, Inc		20,114
5,939	e*	Las Vegas Sands Corp		281,746
16,143	e	Marriott International, Inc (Class A)		423,592
6,570	e*	MGM Mirage		222,657
2,309	e	Orient-Express Hotels Ltd (Class A)		100,303
10,499		Starwood Hotels & Resorts Worldwide, Inc		420,695
3,464	e	Wynn Resorts Ltd		281,796
		TOTAL HOTELS AND OTHER LODGING PLACES		1,755,902
INDUSTRIAL MACHINERY AND EQUIPMENT - 8.55%
3,746	*	AGCO Corp		196,328
76,144		Applied Materials, Inc		1,453,589
3,131	*	Brocade Communications Systems, Inc		25,799
4,210		Bucyrus International, Inc (Class A)		307,414
497	e	Carlisle Cos, Inc		14,413
34,768	e	Caterpillar, Inc		2,566,574
11,450		Cummins, Inc		750,204
24,240	e	Deere & Co		1,748,431
102,387	*	Dell, Inc		2,240,228
3,165		Diebold, Inc		112,611
4,195		Donaldson Co, Inc		187,265
9,324		Dover Corp		451,002
4,827	*	Dresser-Rand Group, Inc		188,736
81,481	*	EMC Corp		1,196,956
1,519		Flowserve Corp		207,647
7,144	*	FMC Technologies, Inc		549,588
3,375	e	Graco, Inc		128,486
138,672		Hewlett-Packard Co		6,130,689
4,510		IDEX Corp		166,148
3,030		Ingersoll-Rand Co Ltd (Class A)		113,413
77,258		International Business Machines Corp		9,157,391
17,345		International Game Technology		433,278
7,748		ITT Industries, Inc		490,681
5,714		Jabil Circuit, Inc		93,767
6,092		Joy Global, Inc		461,956
1,094		Kennametal, Inc		35,610
6,480	*	Lam Research Corp		234,252
2,629		Lennox International, Inc		76,136
7,313		Manitowoc Co, Inc		237,892
1,850	*	Oil States International, Inc		117,364
6,900		Pall Corp		273,792
8,036		Rockwell Automation, Inc		351,414
2,579	*	SanDisk Corp		48,227
3,317	e*	Scientific Games Corp (Class A)		98,250
13,173		Seagate Technology, Inc		251,999
3,005		SPX Corp		395,849

69

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,955	*	Teradata Corp	$	114,659
240		Timken Co		7,906
2,078	e	Toro Co		69,135
6,922	*	Varian Medical Systems, Inc		358,906
12,457	*	Western Digital Corp		430,140
3,634	*	Zebra Technologies Corp (Class A)		118,614
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		32,592,739
INSTRUMENTS AND RELATED PRODUCTS - 6.09%
2,598	e*	Advanced Medical Optics, Inc		48,687
20,530	*	Agilent Technologies, Inc		729,636
17,155		Allergan, Inc		892,918
9,486		Applied Biosystems, Inc		317,591
5,695		Bard (C.R.), Inc		500,875
35,433		Baxter International, Inc		2,265,586
2,799		Beckman Coulter, Inc		189,016
13,730		Becton Dickinson & Co		1,116,249
5,159	*	Boston Scientific Corp		63,404
10,261		Danaher Corp		793,175
8,264		Dentsply International, Inc		304,115
43,914		Emerson Electric Co		2,171,547
7,724	*	Flir Systems, Inc		313,363
7,202	e	Garmin Ltd		308,534
3,516		Hillenbrand, Inc		75,242
7,200	*	Hologic, Inc		156,960
3,193	*	Illumina, Inc		278,142
2,177	*	Intuitive Surgical, Inc		586,484
1,921	*	Itron, Inc		188,930
41,689		Johnson & Johnson		2,682,270
9,190		Kla-Tencor Corp		374,125
63,050		Medtronic, Inc		3,262,838
1,965	*	Mettler-Toledo International, Inc		186,400
3,097	*	Millipore Corp		210,162
3,007		National Instruments Corp		85,309
2,971		PerkinElmer, Inc		82,742
10,550		Pitney Bowes, Inc		359,755
4,457	e*	Resmed, Inc		159,293
9,088		Rockwell Collins, Inc		435,860
5,031		Roper Industries, Inc		331,442
19,040	*	St. Jude Medical, Inc		778,355
17,303		Stryker Corp		1,088,013
2,277	*	Techne Corp		176,217
5,195	*	Teradyne, Inc		57,509
7,999	*	Thermo Electron Corp		445,784
6,828	e*	Trimble Navigation Ltd		243,760
5,611	*	Waters Corp		361,910
8,748	*	Zimmer Holdings, Inc		595,301
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		23,217,499
INSURANCE AGENTS, BROKERS AND SERVICE - 0.01%
1,919		Brown & Brown, Inc		33,371
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		33,371

70

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
INSURANCE CARRIERS - 0.99%
17,536		Aetna, Inc	$	710,734
26,739		Aflac, Inc		1,679,209
1,560		Axis Capital Holdings Ltd		46,504
395	e	Erie Indemnity Co (Class A)		18,229
326	*	Health Net, Inc		7,844
5,407	*	Humana, Inc		215,036
1,266	*	Philadelphia Consolidated Holding Co		43,006
4,195		Prudential Financial, Inc		250,609
465		Transatlantic Holdings, Inc		26,259
25,507		UnitedHealth Group, Inc		669,559
412		W.R. Berkley Corp		9,954
2,357	*	WellCare Health Plans, Inc		85,206
		TOTAL INSURANCE CARRIERS		3,762,149
LEATHER AND LEATHER PRODUCTS - 0.15%
19,222	*	Coach, Inc		555,131
		TOTAL LEATHER AND LEATHER PRODUCTS		555,131
LEGAL SERVICES - 0.05%
2,820	*	FTI Consulting, Inc		193,057
		TOTAL LEGAL SERVICES		193,057
METAL MINING - 0.73%
5,090		Cleveland-Cliffs, Inc		606,677
2,526		Foundation Coal Holdings, Inc		223,753
24,524		Newmont Mining Corp		1,279,172
1,533	e*	Patriot Coal Corp		234,994
4,123		Southern Copper Corp		439,635
		TOTAL METAL MINING		2,784,231
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.19%
2,800		Hasbro, Inc		100,016
1,096	*	Intrepid Potash, Inc		72,095
14,077		Tyco International Ltd		563,643
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		735,754
MISCELLANEOUS RETAIL - 1.90%
17,714	*	Amazon.com, Inc		1,298,968
18,752		Best Buy Co, Inc		742,579
43,278		CVS Corp		1,712,510
4,243	e*	Dick's Sporting Goods, Inc		75,271
4,907	*	Dollar Tree, Inc		160,410
2,529		MSC Industrial Direct Co (Class A)		111,554
7,050		Petsmart, Inc		140,648
2,167	*	Priceline.com, Inc		250,202
33,657		Staples, Inc		799,354
6,965	e	Tiffany & Co		283,824
51,502		Walgreen Co		1,674,330
		TOTAL MISCELLANEOUS RETAIL		7,249,650
MOTION PICTURES - 0.56%
4,496	*	DreamWorks Animation SKG, Inc (Class A)		134,026
52,104		News Corp (Class A)		783,644
22,335		Time Warner, Inc		330,558

71

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
29,567	*	Viacom, Inc (Class B)	$	902,976
		TOTAL MOTION PICTURES		2,151,204
NONDEPOSITORY INSTITUTIONS - 0.91%
47,514		American Express Co		1,789,852
33,359		Freddie Mac		547,088
2,740	e	GLG Partners, Inc		21,372
23,264	*	SLM Corp		450,158
14,018		Textron, Inc		671,883
		TOTAL NONDEPOSITORY INSTITUTIONS		3,480,353
OIL AND GAS EXTRACTION - 7.63%
1,573	*	Atwood Oceanics, Inc		195,587
17,423		Baker Hughes, Inc		1,521,725
11,981	*	Cameron International Corp		663,148
12,161	e	Chesapeake Energy Corp		802,140
1,537	*	CNX Gas Corp		64,615
1,674	e*	Continental Resources, Inc		116,042
13,833	*	Denbury Resources, Inc		504,905
3,869	e	Diamond Offshore Drilling, Inc		538,333
757	*	Encore Acquisition Co		56,919
7,485		ENSCO International, Inc		604,339
7,362		Equitable Resources, Inc		508,420
4,233	*	Global Industries Ltd		75,898
49,261		Halliburton Co		2,614,281
446	e*	Helix Energy Solutions Group, Inc		18,571
1,173	*	Key Energy Services, Inc		22,780
3,605	*	Mariner Energy, Inc		133,277
2,332	e*	Nabors Industries Ltd		114,804
23,352	*	National Oilwell Varco, Inc		2,071,789
15,119		Noble Corp		982,130
3,034	*	Oceaneering International, Inc		233,770
5,367		Patterson-UTI Energy, Inc		193,427
11,565	*	PetroHawk Energy Corp		535,575
5,480	*	Plains Exploration & Production Co		399,876
6,896	*	Pride International, Inc		326,112
5,829	e*	Quicksilver Resources, Inc		225,233
8,681		Range Resources Corp		568,953
2,251		Rowan Cos, Inc		105,234
67,110		Schlumberger Ltd		7,209,627
140	*	SEACOR Holdings, Inc		12,531
11,299		Smith International, Inc		939,399
19,236	*	Southwestern Energy Co		915,826
1,428		St. Mary Land & Exploration Co		92,306
4,535	*	Superior Energy Services		250,060
3,919	*	Tetra Technologies, Inc		92,919
171	e	Tidewater, Inc		11,120
17,885		Transocean, Inc		2,725,495
2,118	*	Unit Corp		175,730
1,694	e	W&T Offshore, Inc		99,116
38,227	*	Weatherford International Ltd		1,895,677
2,382	*	Whiting Petroleum Corp		252,683
3,129		XTO Energy, Inc		214,368
		TOTAL OIL AND GAS EXTRACTION		29,084,740

72

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
PAPER AND ALLIED PRODUCTS - 0.19%
1,872		Greif, Inc (Class A)	$	119,864
9,674		Kimberly-Clark Corp		578,312
1,568		Packaging Corp of America		33,728
		TOTAL PAPER AND ALLIED PRODUCTS		731,904
PERSONAL SERVICES - 0.12%
17,851		H&R Block, Inc		382,011
2,061	e	Weight Watchers International, Inc		73,392
		TOTAL PERSONAL SERVICES		455,403
PETROLEUM AND COAL PRODUCTS - 3.78%
2,628		Cabot Oil & Gas Corp		177,994
10,504		EOG Resources, Inc		1,378,125
54,983		Exxon Mobil Corp		4,845,652
5,850		Frontier Oil Corp		139,874
15,822		Hess Corp		1,996,578
2,334	e	Holly Corp		86,171
10,685		Murphy Oil Corp		1,047,664
619		Noble Energy, Inc		62,247
46,163		Occidental Petroleum Corp		4,148,207
5,188	*	SandRidge Energy, Inc		335,041
3,935	e	Sunoco, Inc		160,115
2,294	e	Tesoro Corp		45,352
		TOTAL PETROLEUM AND COAL PRODUCTS		14,423,020
PRIMARY METAL INDUSTRIES - 1.81%
6,299		AK Steel Holding Corp		434,631
35,619		Alcoa, Inc		1,268,749
5,561	e	Allegheny Technologies, Inc		329,656
258		Carpenter Technology Corp		11,262
822	*	Century Aluminum Co		54,655
3,927	e*	CommScope, Inc		207,228
88,594		Corning, Inc		2,042,092
2,856	*	General Cable Corp		173,788
1,186		Hubbell, Inc (Class B)		47,286
3,788		Nucor Corp		282,850
7,837		Precision Castparts Corp		755,252
156		Schnitzer Steel Industries, Inc (Class A)		17,878
2,636		Steel Dynamics, Inc		102,989
1,137	e	Titanium Metals Corp		15,907
6,271		United States Steel Corp		1,158,755
		TOTAL PRIMARY METAL INDUSTRIES		6,902,978
PRINTING AND PUBLISHING - 0.20%
2,267		Dun & Bradstreet Corp		198,680
2,313		John Wiley & Sons, Inc (Class A)		104,154
9,031		McGraw-Hill Cos, Inc		362,324
2,478	*	MSCI, Inc		89,927
		TOTAL PRINTING AND PUBLISHING		755,085
RAILROAD TRANSPORTATION - 1.51%
15,845		Burlington Northern Santa Fe Corp		1,582,757

73

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
22,765		CSX Corp	$	1,429,870
3,582	*	Kansas City Southern Industries, Inc		157,572
6,131		Norfolk Southern Corp		384,230
29,067		Union Pacific Corp		2,194,559
		TOTAL RAILROAD TRANSPORTATION		5,748,988
REAL ESTATE - 0.09%
3,386	e*	CB Richard Ellis Group, Inc (Class A)		65,011
3,986	e	Forest City Enterprises, Inc (Class A)		128,429
4,466	e	St. Joe Co		153,273
		TOTAL REAL ESTATE		346,713
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.35%
8,913	*	Goodyear Tire & Rubber Co		158,919
19,900		Nike, Inc (Class B)		1,186,239
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,345,158
SECURITY AND COMMODITY BROKERS - 1.87%
737	e	BlackRock, Inc		130,449
7,404		Broadridge Financial Solutions, Inc		155,854
52,554		Charles Schwab Corp		1,079,459
1,963	*	CME Group, Inc		752,202
6,308	*	Corrections Corp of America		173,281
4,146	e*	E*Trade Financial Corp		13,018
5,625		Eaton Vance Corp		223,650
4,590		Federated Investors, Inc (Class B)		157,988
4,698		Franklin Resources, Inc		430,572
2,351		Goldman Sachs Group, Inc		411,190
3,969	*	IntercontinentalExchange, Inc		452,466
2,974		Invesco Ltd		71,317
2,395	*	Investment Technology Group, Inc		80,137
8,511		Janus Capital Group, Inc		225,286
2,880		Lazard Ltd (Class A)		98,352
2,858	e*	MF Global Ltd		18,034
3,458		Morgan Stanley		124,730
906	*	Morningstar, Inc		65,259
4,271	e*	Nasdaq Stock Market, Inc		113,395
5,332	e	Nymex Holdings, Inc		450,447
9,021		NYSE Euronext		457,004
7,570		SEI Investments Co		178,046
14,610		T Rowe Price Group, Inc		825,027
13,893	e*	TD Ameritrade Holding Corp		251,324
4,873		Waddell & Reed Financial, Inc (Class A)		170,604
		TOTAL SECURITY AND COMMODITY BROKERS		7,109,091
SPECIAL TRADE CONTRACTORS - 0.07%
7,629	e*	Quanta Services, Inc		253,817
		TOTAL SPECIAL TRADE CONTRACTORS		253,817
STONE, CLAY, AND GLASS PRODUCTS - 0.81%
39,559		3M Co		2,752,911
2,432	e	Eagle Materials, Inc		61,603
7,747		Gentex Corp		111,867
2,787	*	Owens-Illinois, Inc		116,190

74

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,082	*	USG Corp	$	61,565
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		3,104,136
TOBACCO PRODUCTS - 2.10%
87,671		Altria Group, Inc		1,802,516
5,136	*	Lorillard, Inc		355,206
118,534		Philip Morris International, Inc		5,854,394
		TOTAL TOBACCO PRODUCTS		8,012,116
TRANSPORTATION BY AIR - 0.03%
7,576	e*	AMR Corp		38,789
1,220		Copa Holdings S.A. (Class A)		34,355
8,280	e*	Delta Air Lines, Inc		47,196
		TOTAL TRANSPORTATION BY AIR		120,340
TRANSPORTATION EQUIPMENT - 2.46%
4,970	*	BE Aerospace, Inc		115,751
42,346		Boeing Co		2,782,979
6,788		Goodrich Corp		322,158
11,851	e	Harley-Davidson, Inc		429,717
4,739		Harsco Corp		257,849
18,497		Lockheed Martin Corp		1,824,914
4,778		Northrop Grumman Corp		319,648
2,916		Oshkosh Truck Corp		60,332
20,341		Paccar, Inc		850,864
8,639		Raytheon Co		486,203
740	e	Thor Industries, Inc		15,732
31,204		United Technologies Corp		1,925,287
		TOTAL TRANSPORTATION EQUIPMENT		9,391,434
TRANSPORTATION SERVICES - 0.31%
9,594		CH Robinson Worldwide, Inc		526,135
11,994		Expeditors International Washington, Inc		515,742
312		GATX Corp		13,831
5,508		UTI Worldwide, Inc		109,885
		TOTAL TRANSPORTATION SERVICES		1,165,593
TRUCKING AND WAREHOUSING - 0.71%
443	e	Con-way, Inc		20,936
4,879	e	J.B. Hunt Transport Services, Inc		162,373
2,889		Landstar System, Inc		159,531
38,470		United Parcel Service, Inc (Class B)		2,364,751
		TOTAL TRUCKING AND WAREHOUSING		2,707,591
WATER TRANSPORTATION - 0.13%
5,008		Carnival Corp		165,064
2,641	e	Frontline Ltd		184,289
2,992	*	Kirby Corp		143,616
		TOTAL WATER TRANSPORTATION		492,969
WHOLESALE TRADE-DURABLE GOODS - 0.34%
468	*	Arrow Electronics, Inc		14,377
5,705		BorgWarner, Inc		253,188
7,618	*	LKQ Corp		137,657

75

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,188	e	Martin Marietta Materials, Inc	$	226,655
7,149	*	Patterson Cos, Inc		210,109
427	*	Tech Data Corp		14,471
4,305		W.W. Grainger, Inc		352,149
1,760	*	WESCO International, Inc		70,470
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,279,076
WHOLESALE TRADE-NONDURABLE GOODS - 0.89%
4,657		Airgas, Inc		271,922
3,406	e*	Bare Escentuals, Inc		63,794
3,458		Brown-Forman Corp (Class B)		261,321
15,015		Cardinal Health, Inc		774,474
2,127	*	Central European Distribution Corp		157,717
5,914	*	Dean Foods Co		116,033
6,501	*	Endo Pharmaceuticals Holdings, Inc		157,259
4,786	*	Henry Schein, Inc		246,814
3,666	e	Herbalife Ltd		142,058
33,698		Sysco Corp		927,032
5,137		Terra Industries, Inc		253,494
130		Valhi, Inc		3,543
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		3,375,461
		TOTAL COMMON STOCKS		379,948,525
		(Cost $359,347,323)
PRINCIPAL		ISSUER
SHORT TERM INVESTMENTS - 6.36%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.38%
$      1,450,000		Federal Home Loan Bank (FHLB), 07/01/08		1,450,000
				1,450,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.98%
22,773,273		State Street Navigator Securities Lending Prime Portfolio		22,773,273
				22,773,273
		TOTAL SHORT TERM INVESTMENTS
		(Cost $24,223,273)		24,223,273
		TOTAL PORTFOLIO - 106.04%
		(Cost $383,570,596)		404,171,798
		OTHER ASSETS & LIABILITIES, NET - (6.04)%		(23,019,584	)
		NET ASSETS - 100.00%	$	381,152,214
		The following abbreviations are used in portfolio descriptions:
		REIT  -   Real Estate Investment Trust
	*	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 $123,795.
	e	All or a portion of these securities are out on loan.
		At June 30, 2008, the unrealized appreciation on investments was $20,601,202, consisting of
		gross unrealized appreciation of $43,569,901 and gross unrealized depreciation of $22,968,699.

76

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

	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE	DATE	(DEPRECIATION)
E-mini S&P 500 Index	9	$ 576,495	September 2008	$ (14,151)

77

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
LARGE-CAP VALUE INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.30%
AMUSEMENT AND RECREATION SERVICES - 0.86%
2,353		International Speedway Corp (Class A)	$	91,838
116,207		Walt Disney Co		3,625,658
1,870	e	Warner Music Group Corp		13,352
		TOTAL AMUSEMENT AND RECREATION SERVICES		3,730,848
APPAREL AND ACCESSORY STORES - 0.19%
3,302		American Eagle Outfitters, Inc		45,006
2,456	e*	AnnTaylor Stores Corp		58,846
11,203		Foot Locker, Inc		139,477
16,996		Gap, Inc		283,323
5,057	*	Kohl's Corp		202,482
6,615		Limited Brands, Inc		111,463
		TOTAL APPAREL AND ACCESSORY STORES		840,597
APPAREL AND OTHER TEXTILE PRODUCTS - 0.15%
6,820		Jones Apparel Group, Inc		93,775
7,164	e	Liz Claiborne, Inc		101,371
337		Phillips-Van Heusen Corp		12,341
6,021		VF Corp		428,575
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		636,062
AUTO REPAIR, SERVICES AND PARKING - 0.10%
1,423	*	Federal Mogul Corp (Class A)		22,953
21,028	*	Hertz Global Holdings, Inc		201,869
2,688		Ryder System, Inc		185,149
		TOTAL AUTO REPAIR, SERVICES AND PARKING		409,971
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.06%
7,929	e*	Autonation, Inc		79,449
5,891	*	O'Reilly Automotive, Inc		131,664
2,802	e	Penske Auto Group, Inc		41,301
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		252,414
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.09%
116,613		Home Depot, Inc		2,731,076
95,829		Lowe's Cos, Inc		1,988,452
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		4,719,528
BUSINESS SERVICES - 1.73%
4,477	*	Affiliated Computer Services, Inc (Class A)		239,475
7,783	*	Amdocs Ltd		228,976
6,959	e*	Avis Budget Group, Inc		58,247
14,264		CA, Inc		329,356
17,634	*	Cadence Design Systems, Inc		178,103
10,469	*	Computer Sciences Corp		490,368
7,472	*	Compuware Corp		71,283

78

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,642	*	Convergys Corp	$	128,420
525	*	DST Systems, Inc		28,901
36,700		Electronic Data Systems Corp		904,288
4,173		Equifax, Inc		140,296
14,311	*	Expedia, Inc		263,036
10,410		Fidelity National Information Services, Inc		384,233
3,468	*	Getty Images, Inc		117,669
9,024	*	HLTH Corp		102,152
9,780		IMS Health, Inc		227,874
4,950	e*	Interpublic Group of Cos, Inc		42,570
5,014		Manpower, Inc		292,015
1,138	*	McAfee, Inc		38,726
1,370	*	NCR Corp		34,524
13,351	*	Novell, Inc		78,637
1,657		Omnicom Group, Inc		74,366
53,923	*	Sun Microsystems, Inc		586,682
57,832	*	Symantec Corp		1,119,049
9,753	*	Synopsys, Inc		233,194
12,066	*	Unisys Corp		47,661
6,356	*	United Rentals, Inc		124,641
23,959		Waste Management, Inc		903,494
		TOTAL BUSINESS SERVICES		7,468,236
CHEMICALS AND ALLIED PRODUCTS - 9.68%
4,953		Alberto-Culver Co		130,115
75,037	*	Amgen, Inc		3,538,745
7,348		Avery Dennison Corp		322,798
5,246	*	Barr Pharmaceuticals, Inc		236,490
11,645		Bristol-Myers Squibb Co		239,072
4,439	e	Cabot Corp		107,912
1,354		Celanese Corp (Series A)		61,824
2,569	*	Charles River Laboratories International, Inc		164,210
16,562		Chemtura Corp		96,722
6,570		Clorox Co		342,954
3,265		Cytec Industries, Inc		178,138
64,191		Dow Chemical Co		2,240,908
61,946		Du Pont (E.I.) de Nemours & Co		2,656,864
5,258		Eastman Chemical Co		362,066
62,407		Eli Lilly & Co		2,880,707
3,195		FMC Corp		247,421
19,201	*	Forest Laboratories, Inc		667,043
9,402	*	Hospira, Inc		377,114
9,926		Huntsman Corp		113,156
1,705	*	ImClone Systems, Inc		68,984
2,643	*	Inverness Medical Innovations, Inc		87,668
4,296	e*	Invitrogen Corp		168,661
17,033	*	King Pharmaceuticals, Inc		178,336
4,704		Lubrizol Corp		217,936
105,749		Merck & Co, Inc		3,985,680
17,155		Mylan Laboratories, Inc		207,061
561		Nalco Holding Co		11,865
1,851	*	NBTY, Inc		59,343
467,290		Pfizer, Inc		8,163,556
10,076		PPG Industries, Inc		578,060

79

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
132,515		Procter & Gamble Co	$	8,058,237
1,420	e	Rohm & Haas Co		65,945
8,321		RPM International, Inc		171,413
1,044		Scotts Miracle-Gro Co (Class A)		18,343
4,236		Sigma-Aldrich Corp		228,151
7,037	e	Valspar Corp		133,070
3,646	*	Watson Pharmaceuticals, Inc		99,062
91,993		Wyeth		4,411,984
		TOTAL CHEMICALS AND ALLIED PRODUCTS		41,877,614
COMMUNICATIONS - 7.01%
409,910		AT&T, Inc		13,809,868
15,295	e*	Cablevision Systems Corp (Class A)		345,667
7,272	*	CenturyTel, Inc		258,810
17,386	e*	Citizens Communications Co		197,157
34,358		Clear Channel Communications, Inc		1,209,402
799	e*	Clearwire Corp (Class A)		10,355
136,970		Comcast Corp (Class A)		2,598,321
15,438	*	Crown Castle International Corp		597,914
5,122		Embarq Corp		242,117
1,210	e	Hearst-Argyle Television, Inc		23,232
11,353	*	IAC/InterActiveCorp		218,886
3,290	*	Leap Wireless International, Inc		142,029
11,651	e*	Liberty Global, Inc (Class A)		366,191
8,972	*	Liberty Media Corp - Capital (Series A)		129,197
40,882	*	Liberty Media Holding Corp (Interactive A)		603,418
52,173	e	Qwest Communications International, Inc		205,040
191,571		Sprint Nextel Corp		1,819,925
4,327		Telephone & Data Systems, Inc		204,537
5,374	e*	Time Warner Cable, Inc (Class A)		142,304
689	*	US Cellular Corp		38,963
196,680		Verizon Communications, Inc		6,962,472
14,771	e	Windstream Corp		182,274
		TOTAL COMMUNICATIONS		30,308,079
DEPOSITORY INSTITUTIONS - 10.94%
9,180	e	Associated Banc-Corp		177,082
6,313		Astoria Financial Corp		126,765
6,035	e	Bancorpsouth, Inc		105,552
307,221		Bank of America Corp		7,333,365
3,212		Bank of Hawaii Corp		153,534
78,603		Bank of New York Mellon Corp		2,973,551
37,722	e	BB&T Corp		858,930
1,536		BOK Financial Corp		82,099
383	e	Capitol Federal Financial		14,405
376,355		Citigroup, Inc		6,307,710
2,755	e	City National Corp		115,903
10,380	e	Comerica, Inc		266,039
4,069		Commerce Bancshares, Inc		161,377
4,055		Cullen/Frost Bankers, Inc		202,142
34,667		Fifth Third Bancorp		352,910
403		First Citizens Bancshares, Inc (Class A)		56,214
13,632	e	First Horizon National Corp		101,286
12,293	e	Fulton Financial Corp		123,545

80

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
22,951		Hudson City Bancorp, Inc	$	382,823
26,140	e	Huntington Bancshares, Inc		150,828
238,216		JPMorgan Chase & Co		8,173,214
27,615	e	Keycorp		303,213
4,538	e	M&T Bank Corp		320,111
18,049	e	Marshall & Ilsley Corp		276,691
50,450	e	National City Corp		240,647
23,650	e	New York Community Bancorp, Inc		421,916
1,474		Northern Trust Corp		101,072
23,484		People's United Financial, Inc		366,350
23,862		PNC Financial Services Group, Inc		1,362,520
19,389		Popular, Inc		127,774
47,945	e	Regions Financial Corp		523,080
30,617	e	Sovereign Bancorp, Inc		225,341
19,733		State Street Corp		1,262,715
24,382		SunTrust Banks, Inc		883,116
18,696	e	Synovus Financial Corp		163,216
8,760	e	TCF Financial Corp		105,383
6,429	e	TFS Financial Corp		74,512
3,448		UnionBanCal Corp		139,368
120,099		US Bancorp		3,349,561
8,693	e	Valley National Bancorp		137,095
149,019	e	Wachovia Corp		2,314,265
6,591	e	Washington Federal, Inc		119,297
72,675	e	Washington Mutual, Inc		358,288
3,816	e	Webster Financial Corp		70,978
227,868		Wells Fargo & Co		5,411,865
4,531	e	Whitney Holding Corp		82,917
4,876	e	Wilmington Trust Corp		128,921
7,455	e	Zions Bancorporation		234,758
		TOTAL DEPOSITORY INSTITUTIONS		47,324,244
EATING AND DRINKING PLACES - 0.10%
7,322		McDonald's Corp		411,643
		TOTAL EATING AND DRINKING PLACES		411,643
EDUCATIONAL SERVICES - 0.02%
6,158	*	Career Education Corp		89,968
		TOTAL EDUCATIONAL SERVICES		89,968
ELECTRIC, GAS, AND SANITARY SERVICES - 6.76%
5,373		AGL Resources, Inc		185,798
7,835		Alliant Energy Corp		268,427
26,241	*	Allied Waste Industries, Inc		331,161
14,458		Ameren Corp		610,561
27,714		American Electric Power Co, Inc		1,114,934
4,360		American Water Works Co, Inc		96,705
9,331		Aqua America, Inc		149,016
6,203		Atmos Energy Corp		171,017
6,766		Centerpoint Energy, Inc		108,594
15,669	e	CMS Energy Corp		233,468
18,815	e	Consolidated Edison, Inc		735,478
1,047		Constellation Energy Group, Inc		85,959
39,880		Dominion Resources, Inc		1,893,901

81

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,235	e	DPL, Inc	$	190,859
11,252		DTE Energy Co		477,535
87,244		Duke Energy Corp		1,516,301
34,149	*	Dynegy, Inc (Class A)		291,974
22,478		Edison International		1,154,920
38,129		El Paso Corp		828,924
4,013		Energen Corp		313,134
10,915		Energy East Corp		269,819
3,857		Entergy Corp		464,691
22,632		Exelon Corp		2,035,975
21,034		FirstEnergy Corp		1,731,729
28,160	*	FPL Group, Inc		1,846,733
6,155	e	Great Plains Energy, Inc		155,598
6,065	e	Hawaiian Electric Industries, Inc		149,987
5,346	e	Integrys Energy Group, Inc		271,737
12,885		MDU Resources Group, Inc		449,171
4,810	e*	Mirant Corp		188,312
5,801	e	National Fuel Gas Co		345,043
18,912	e	NiSource, Inc		338,903
10,728		Northeast Utilities		273,886
9,806	*	NRG Energy, Inc		420,677
7,742		NSTAR		261,834
6,114		OGE Energy Corp		193,875
7,260		Oneok, Inc		354,506
13,427		Pepco Holdings, Inc		344,403
24,652	e	PG&E Corp		978,438
6,964		Pinnacle West Capital Corp		214,282
18,029		Progress Energy, Inc		754,153
8,943		Puget Energy, Inc		214,543
7,427		Questar Corp		527,614
24,435	*	Reliant Energy, Inc		519,732
1,372		Republic Services, Inc		40,748
8,311		SCANA Corp		307,507
17,274		Sempra Energy		975,117
11,893		Sierra Pacific Resources		151,160
52,937		Southern Co		1,848,560
7,696	e	Southern Union Co		207,946
14,523	e	TECO Energy, Inc		312,099
7,372		UGI Corp		211,650
5,605	e	Vectren Corp		174,932
8,037		Wisconsin Energy Corp		363,433
29,733		Xcel Energy, Inc		596,741
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		29,254,200
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.71%
8,167	*	ADC Telecommunications, Inc		120,627
36,640	e*	Advanced Micro Devices, Inc		213,611
11,472	*	Atmel Corp		39,923
5,705	*	Avnet, Inc		155,632
3,139	e	AVX Corp		35,502
2,948		Cooper Industries Ltd (Class A)		116,446
3,673	e*	Cree, Inc		83,781
6,256		Eaton Corp		531,572
2,681	*	EchoStar Corp (Class A)		83,701

82

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,443	*	Fairchild Semiconductor International, Inc	$	99,036
987		Harman International Industries, Inc		40,852
6,501	*	Integrated Device Technology, Inc		64,620
53,749		Intel Corp		1,154,529
3,987	*	International Rectifier Corp		76,550
5,626		Intersil Corp (Class A)		136,824
4,541	e*	Jarden Corp		82,828
6,720	e*	JDS Uniphase Corp		76,339
1,992		L-3 Communications Holdings, Inc		181,013
1,039		Lincoln Electric Holdings, Inc		81,769
11,183	e*	LSI Logic Corp		68,664
45,733	*	Micron Technology, Inc		274,398
6,710	e	Molex, Inc		163,791
155,898		Motorola, Inc		1,144,291
4,672	e*	Novellus Systems, Inc		99,000
9,146	e*	QLogic Corp		133,440
8,933		RadioShack Corp		109,608
2,626		Teleflex, Inc		145,979
29,170	e*	Tellabs, Inc		135,641
4,007	*	Thomas & Betts Corp		151,665
33,109		Tyco Electronics Ltd		1,185,964
11,950	*	Vishay Intertechnology, Inc		105,997
5,162	e	Whirlpool Corp		318,650
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		7,412,243
ENGINEERING AND MANAGEMENT SERVICES - 0.25%
727	*	Aecom Technology Corp		23,649
2,251		KBR, Inc		78,582
13,591		Moody's Corp		468,074
1,954	e	Quest Diagnostics, Inc		94,710
10,586	*	SAIC, Inc		220,295
4,706	*	URS Corp		197,511
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,082,821
FABRICATED METAL PRODUCTS - 0.73%
1,287	e*	Alliant Techsystems, Inc		130,862
3,820		Aptargroup, Inc		160,249
5,733		Ball Corp		273,693
7,967		Commercial Metals Co		300,356
3,597		Crane Co		138,592
30,706		Illinois Tool Works, Inc		1,458,842
6,886	e	Pentair, Inc		241,148
3,924		Snap-On, Inc		204,087
5,333		Stanley Works		239,078
		TOTAL FABRICATED METAL PRODUCTS		3,146,907
FOOD AND KINDRED PRODUCTS - 3.97%
21,949		Anheuser-Busch Cos, Inc		1,363,472
44,430		Archer Daniels Midland Co		1,499,513
8,418		Bunge Ltd		906,534
7,597		Campbell Soup Co		254,196
47,280		Coca-Cola Co		2,457,614
21,968		Coca-Cola Enterprises, Inc		380,046
33,642		ConAgra Foods, Inc		648,618

83

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
13,029	*	Constellation Brands, Inc (Class A)	$	258,756
5,281		Corn Products International, Inc		259,350
14,254		Del Monte Foods Co		101,203
17,254	*	Dr Pepper Snapple Group, Inc		361,989
20,941		General Mills, Inc		1,272,585
9,679		H.J. Heinz Co		463,140
5,260	e	Hershey Co		172,423
4,899		Hormel Foods Corp		169,554
4,080		J.M. Smucker Co		165,811
7,267		Kellogg Co		348,961
104,598		Kraft Foods, Inc (Class A)		2,975,813
4,862		McCormick & Co, Inc		173,379
7,968		Molson Coors Brewing Co (Class B)		432,901
9,235		Pepsi Bottling Group, Inc		257,841
4,294		PepsiAmericas, Inc		84,935
6,458		PepsiCo, Inc		410,664
11,821	e	Reynolds American, Inc		551,686
48,165		Sara Lee Corp		590,021
7,598	e*	Smithfield Foods, Inc		151,048
17,127		Tyson Foods, Inc (Class A)		255,877
2,351		Wrigley (Wm.) Jr Co		182,861
		TOTAL FOOD AND KINDRED PRODUCTS		17,150,791
FOOD STORES - 0.47%
25,059		Kroger Co		723,453
30,435		Safeway, Inc		868,919
14,642	*	Supervalu, Inc		452,291
		TOTAL FOOD STORES		2,044,663
FORESTRY - 0.22%
4,819		Rayonier, Inc		204,615
14,578		Weyerhaeuser Co		745,519
		TOTAL FORESTRY		950,134
FURNITURE AND FIXTURES - 0.39%
3,661	e	Hill-Rom Holdings, Inc		98,774
34,303		Johnson Controls, Inc		983,810
11,766	e	Leggett & Platt, Inc		197,316
24,820		Masco Corp		390,419
		TOTAL FURNITURE AND FIXTURES		1,670,319
FURNITURE AND HOMEFURNISHINGS STORES - 0.11%
3,166	*	Bed Bath & Beyond, Inc		88,965
3,852	e*	Mohawk Industries, Inc		246,913
4,264	e	Steelcase, Inc (Class A)		42,768
5,538		Williams-Sonoma, Inc		109,874
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		488,520
GENERAL BUILDING CONTRACTORS - 0.24%
8,527		Centex Corp		114,006
21,789	e	DR Horton, Inc		236,411
5,813	e	KB Home		98,414
9,592	e	Lennar Corp (Class A)		118,365
2,404	e	MDC Holdings, Inc		93,900

84

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
260	e*	NVR, Inc	$	130,021
10,392	e	Pulte Homes, Inc		100,075
8,849	e*	Toll Brothers, Inc		165,742
		TOTAL GENERAL BUILDING CONTRACTORS		1,056,934
GENERAL MERCHANDISE STORES - 0.79%
3,997	*	BJ's Wholesale Club, Inc		154,684
8,897		Family Dollar Stores, Inc		177,406
15,307		JC Penney Co, Inc		555,491
29,076		Macy's, Inc		564,656
9,943	e*	Saks, Inc		109,174
4,030		Target Corp		187,355
29,877		Wal-Mart Stores, Inc		1,679,087
		TOTAL GENERAL MERCHANDISE STORES		3,427,853
HEALTH SERVICES - 0.93%
9,750		AmerisourceBergen Corp		389,903
1,987	e	Brookdale Senior Living, Inc		40,455
16,685		Cigna Corp		590,482
5,259	*	Community Health Systems, Inc		173,442
8,331	*	Coventry Health Care, Inc		253,429
1,216	*	DaVita, Inc		64,606
6,128	e*	Health Management Associates, Inc (Class A)		39,893
3,742	e*	LifePoint Hospitals, Inc		105,899
5,398		McKesson Corp		301,802
6,958	e	Omnicare, Inc		182,439
468	*	Pediatrix Medical Group, Inc		23,040
14,363	e*	Tenet Healthcare Corp		79,858
3,256		Universal Health Services, Inc (Class B)		205,844
32,779	*	WellPoint, Inc		1,562,247
		TOTAL HEALTH SERVICES		4,013,339
HOLDING AND OTHER INVESTMENT OFFICES - 3.00%
2,105		Alexandria Real Estate Equities, Inc		204,901
11,200	e	Allied Capital Corp		155,568
6,758	e	AMB Property Corp		340,468
37,114		Annaly Mortgage Management, Inc		575,638
4,345	e	Apartment Investment & Management Co (Class A)		147,991
5,313	e	AvalonBay Communities, Inc		473,707
8,222	e	Boston Properties, Inc		741,789
6,400		Brandywine Realty Trust		100,864
3,471	e	BRE Properties, Inc (Class A)		150,225
1,342	e	Camden Property Trust		59,397
4,831	e	CBL & Associates Properties, Inc		110,340
8,261		Developers Diversified Realty Corp		286,739
1,441		Digital Realty Trust, Inc		58,951
8,600		Douglas Emmett, Inc		188,942
10,062		Duke Realty Corp		225,892
18,663		Equity Residential		714,233
1,373	e	Essex Property Trust, Inc		146,225
2,833	e	Federal Realty Investment Trust		195,477
7,519	e	General Growth Properties, Inc		263,391
14,297	e	HCP, Inc		454,788
5,753		Health Care REIT, Inc		256,009

85

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
6,489		Hospitality Properties Trust	$	158,721
36,419		Host Marriott Corp		497,119
15,545		HRPT Properties Trust		105,240
10,097	e	iShares Russell 1000 Value Index Fund		697,198
10,189	e	iStar Financial, Inc		134,597
2,026		Kilroy Realty Corp		95,283
14,873	e	Kimco Realty Corp		513,416
6,482	e	Liberty Property Trust		214,878
4,644		Mack-Cali Realty Corp		158,685
5,880		Nationwide Health Properties, Inc		185,161
7,954	e	Plum Creek Timber Co, Inc		339,715
17,440		Prologis		947,864
8,674		Public Storage, Inc		700,772
4,935		Regency Centers Corp		291,757
4,143		SL Green Realty Corp		342,709
8,847		UDR, Inc		197,996
7,330		Ventas, Inc		312,038
20,586		Virgin Media, Inc		280,175
9,389		Vornado Realty Trust		826,232
4,927		Weingarten Realty Investors		149,387
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		13,000,478
HOTELS AND OTHER LODGING PLACES - 0.08%
3,459		Boyd Gaming Corp		43,445
1,371		Choice Hotels International, Inc		36,332
507	*	MGM Mirage		17,182
500	e	Orient-Express Hotels Ltd (Class A)		21,720
11,529		Wyndham Worldwide Corp		206,484
		TOTAL HOTELS AND OTHER LODGING PLACES		325,163
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.30%
1,843	*	AGCO Corp		96,592
4,165	e	Black & Decker Corp		239,529
22,308	*	Brocade Communications Systems, Inc		183,818
3,314	e	Carlisle Cos, Inc		96,106
740		Diebold, Inc		26,329
1,657		Dover Corp		80,149
43,085	*	EMC Corp		632,919
2,176		Flowserve Corp		297,459
3,622	*	Gardner Denver, Inc		205,730
687,090	d	General Electric Co		18,338,432
635		IDEX Corp		23,393
17,836		Ingersoll-Rand Co Ltd (Class A)		667,601
3,175		ITT Industries, Inc		201,073
7,485		Jabil Circuit, Inc		122,829
4,173		Kennametal, Inc		135,831
634	*	Lam Research Corp		22,919
6,573	*	Lexmark International, Inc (Class A)		219,735
1,155	*	Oil States International, Inc		73,273
12,447	*	SanDisk Corp		232,759
17,391		Seagate Technology, Inc		332,690
6,527	*	Teradata Corp		151,035
6,964	*	Terex Corp		357,741

86

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,578		Timken Co	$	183,739
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		22,921,681
INSTRUMENTS AND RELATED PRODUCTS - 3.67%
883		Beckman Coulter, Inc		59,629
96,755	*	Boston Scientific Corp		1,189,119
3,101	e	Cooper Cos, Inc		115,202
34,695		Covidien Ltd		1,661,544
5,271		Danaher Corp		407,448
2,725	e	DRS Technologies, Inc		214,512
19,548	e	Eastman Kodak Co		282,078
8,823	*	Hologic, Inc		192,341
143,303		Johnson & Johnson		9,220,115
729		Kla-Tencor Corp		29,678
4,666		PerkinElmer, Inc		129,948
1,378		Pitney Bowes, Inc		46,990
5,561	*	Teradyne, Inc		61,560
18,997	*	Thermo Electron Corp		1,058,703
62,193		Xerox Corp		843,337
5,238	*	Zimmer Holdings, Inc		356,446
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		15,868,650
INSURANCE AGENTS, BROKERS AND SERVICE - 0.88%
20,758		AON Corp		953,623
6,071		Brown & Brown, Inc		105,575
6,398	e	Gallagher (Arthur J.) & Co		154,192
21,716		Hartford Financial Services Group, Inc		1,402,202
35,494		Marsh & McLennan Cos, Inc		942,366
610		White Mountains Insurance Group Ltd		261,690
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		3,819,648
INSURANCE CARRIERS - 6.27%
22,773		ACE Ltd		1,254,565
11,941		Aetna, Inc		483,969
350	e*	Alleghany Corp		116,218
3,673		Allied World Assurance Holdings Ltd		145,524
37,999		Allstate Corp		1,732,374
5,677		American Financial Group, Inc		151,860
160,174		American International Group, Inc		4,238,204
1,044		American National Insurance Co		102,333
3,548	*	Arch Capital Group Ltd		235,303
8,169		Assurant, Inc		538,827
7,870		Axis Capital Holdings Ltd		234,605
25,214		Chubb Corp		1,235,738
10,055		Cincinnati Financial Corp		255,397
1,657		CNA Financial Corp		41,674
12,723	*	Conseco, Inc		126,212
3,787	e	Endurance Specialty Holdings Ltd		116,602
2,310	e	Erie Indemnity Co (Class A)		106,607
4,275		Everest Re Group Ltd		340,760
15,045		Fidelity National Title Group, Inc (Class A)		189,567
6,277	e	First American Corp		165,713
29,864		Genworth Financial, Inc (Class A)		531,878
3,317		Hanover Insurance Group, Inc		140,973
7,753		HCC Insurance Holdings, Inc		163,898

87

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,000	*	Health Net, Inc	$	168,420
5,038	*	Humana, Inc		200,361
12,255		Leucadia National Corp		575,250
17,920		Lincoln National Corp		812,134
21,663	e	Loews Corp		1,015,995
697	*	Markel Corp		255,799
14,773	e	MBIA, Inc		64,853
1,689	e	Mercury General Corp		78,910
31,172		Metlife, Inc		1,644,946
8,530	e	MGIC Investment Corp		52,118
3,463	e	Nationwide Financial Services, Inc (Class A)		166,259
15,977		Old Republic International Corp		189,168
1,774	e	OneBeacon Insurance Group Ltd		31,169
3,531		PartnerRe Ltd		244,098
2,570	*	Philadelphia Consolidated Holding Co		87,303
17,963		Principal Financial Group		753,907
46,970		Progressive Corp		879,278
4,867		Protective Life Corp		185,189
24,721		Prudential Financial, Inc		1,476,833
1,958		Reinsurance Group Of America, Inc		85,212
4,451		RenaissanceRe Holdings Ltd		198,826
6,232		Safeco Corp		418,541
3,482		Stancorp Financial Group, Inc		163,515
6,207		Torchmark Corp		364,041
1,299		Transatlantic Holdings, Inc		73,355
41,721		Travelers Cos, Inc		1,810,691
53,489		UnitedHealth Group, Inc		1,404,086
3,266		Unitrin, Inc		90,044
23,892		UnumProvident Corp		488,591
9,122		W.R. Berkley Corp		220,388
126		Wesco Financial Corp		48,132
12,077		XL Capital Ltd (Class A)		248,303
		TOTAL INSURANCE CARRIERS		27,144,516
METAL MINING - 0.72%
26,413		Freeport-McMoRan Copper & Gold, Inc (Class B)		3,095,339
		TOTAL METAL MINING		3,095,339
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.47%
1,692	e	Armstrong World Industries, Inc		49,440
10,607		Fortune Brands, Inc		661,983
4,991		Hasbro, Inc		178,279
1,035	*	Intrepid Potash, Inc		68,082
24,971		Mattel, Inc		427,504
16,098		Tyco International Ltd		644,564
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		2,029,852
MISCELLANEOUS RETAIL - 0.66%
2,513	e	Barnes & Noble, Inc		62,423
45,464		CVS Corp		1,799,010
18,684	*	Office Depot, Inc		204,403
5,022	e	OfficeMax, Inc		69,806
36,049	e*	Rite Aid Corp		57,318
4,070	e*	Sears Holdings Corp		299,796

88

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,262		Staples, Inc	$	172,473
5,194		Walgreen Co		168,857
		TOTAL MISCELLANEOUS RETAIL		2,834,086
MOTION PICTURES - 1.40%
40,771		CBS Corp (Class B)		794,627
19,411	*	Discovery Holding Co (Class A)		426,266
95,873		News Corp (Class A)		1,441,930
5,510	e	Regal Entertainment Group (Class A)		84,193
219,564		Time Warner, Inc		3,249,547
2,352	*	Viacom, Inc (Class B)		71,830
		TOTAL MOTION PICTURES		6,068,393
NONDEPOSITORY INSTITUTIONS - 0.99%
13,998		American Capital Strategies Ltd		332,732
11,186		American Express Co		421,377
7,831	e*	AmeriCredit Corp		67,503
25,892	e	Capital One Financial Corp		984,155
10,741	e	CapitalSource, Inc		119,010
20,643	e	CIT Group, Inc		140,579
40,327		Countrywide Financial Corp		171,390
32,861		Discover Financial Services		432,779
73,214	*	Fannie Mae		1,428,405
3,695		Freddie Mac		60,598
3,570	*	SLM Corp		69,080
382		Student Loan Corp		37,467
		TOTAL NONDEPOSITORY INSTITUTIONS		4,265,075
NONMETALLIC MINERALS, EXCEPT FUELS - 0.10%
7,542		Vulcan Materials Co		450,861
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		450,861
OIL AND GAS EXTRACTION - 2.78%
32,301		Anadarko Petroleum Corp		2,417,407
20,277		BJ Services Co		647,647
22,369	e	Chesapeake Energy Corp		1,475,459
5,719		Cimarex Energy Co		398,443
2,753	*	Encore Acquisition Co		206,998
708		ENSCO International, Inc		57,164
4,529	*	Exterran Holdings, Inc		323,778
6,019	e*	Forest Oil Corp		448,416
2,871	*	Global Industries Ltd		51,477
5,764	e*	Helix Energy Solutions Group, Inc		240,013
7,211		Helmerich & Payne, Inc		519,336
6,073	*	Hercules Offshore, Inc		230,895
7,207	*	Key Energy Services, Inc		139,960
1,639	*	Mariner Energy, Inc		60,594
16,682	e*	Nabors Industries Ltd		821,255
4,222		Patterson-UTI Energy, Inc		152,161
860	*	PetroHawk Energy Corp		39,827
8,249		Pioneer Natural Resources Co		645,732
651	*	Plains Exploration & Production Co		47,503
3,274	*	Pride International, Inc		154,827
5,051	e	Rowan Cos, Inc		236,134

89

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,353	e*	SEACOR Holdings, Inc	$	121,107
2,619		St. Mary Land & Exploration Co		169,292
3,419	e	Tidewater, Inc		222,338
770	*	Unit Corp		63,887
31,258		XTO Energy, Inc		2,141,486
		TOTAL OIL AND GAS EXTRACTION		12,033,136
PAPER AND ALLIED PRODUCTS - 0.65%
7,266	e	Bemis Co		162,904
31,048	*	Domtar Corporation		169,212
29,505		International Paper Co		687,467
17,115		Kimberly-Clark Corp		1,023,135
12,417	e	MeadWestvaco Corp		296,021
5,306		Packaging Corp of America		114,132
17,655	*	Smurfit-Stone Container Corp		71,856
6,828		Sonoco Products Co		211,327
7,972	e	Temple-Inland, Inc		89,844
		TOTAL PAPER AND ALLIED PRODUCTS		2,825,898
PERSONAL SERVICES - 0.10%
9,087		Cintas Corp		240,896
18,798		Service Corp International		185,348
108		Weight Watchers International, Inc		3,846
		TOTAL PERSONAL SERVICES		430,090
PETROLEUM AND COAL PRODUCTS - 14.86%
23,016		Apache Corp		3,199,224
4,340		Ashland, Inc		209,188
3,692		Cabot Oil & Gas Corp		250,059
142,740		Chevron Corp		14,149,816
106,423		ConocoPhillips		10,045,267
30,783		Devon Energy Corp		3,698,885
4,250		EOG Resources, Inc		557,600
297,115		Exxon Mobil Corp		26,184,745
48,848		Marathon Oil Corp		2,533,746
9,087	*	Newfield Exploration Co		592,927
11,034		Noble Energy, Inc		1,109,579
3,272		Sunoco, Inc		133,138
6,744		Tesoro Corp		133,329
36,409		Valero Energy Corp		1,499,323
		TOTAL PETROLEUM AND COAL PRODUCTS		64,296,826
PIPELINES, EXCEPT NATURAL GAS - 0.29%
43,900		Spectra Energy Corp		1,261,686
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,261,686
PRIMARY METAL INDUSTRIES - 0.61%
12,664		Alcoa, Inc		451,092
3,081		Carpenter Technology Corp		134,486
1,020	*	Century Aluminum Co		67,820
2,318		Hubbell, Inc (Class B)		92,419
17,173		Nucor Corp		1,282,308
1,298		Schnitzer Steel Industries, Inc (Class A)		148,751
8,493		Steel Dynamics, Inc		331,822

90

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,832		Titanium Metals Corp	$	67,600
437		United States Steel Corp		80,749
		TOTAL PRIMARY METAL INDUSTRIES		2,657,047
PRINTING AND PUBLISHING - 0.48%
1,123		Dun & Bradstreet Corp		98,420
6,438	e*	EW Scripps Co (Class A)		267,435
15,785	e	Gannett Co, Inc		342,061
11,131		McGraw-Hill Cos, Inc		446,576
2,715		Meredith Corp		76,807
9,931	e	New York Times Co (Class A)		152,838
14,654		R.R. Donnelley & Sons Co		435,077
403		Washington Post Co (Class B)		236,521
		TOTAL PRINTING AND PUBLISHING		2,055,735
RAILROAD TRANSPORTATION - 0.28%
1,089	*	Kansas City Southern Industries, Inc		47,905
18,337		Norfolk Southern Corp		1,149,180
		TOTAL RAILROAD TRANSPORTATION		1,197,085
REAL ESTATE - 0.07%
7,649	*	CB Richard Ellis Group, Inc (Class A)		146,861
2,175		Jones Lang LaSalle, Inc		130,913
1,012		St. Joe Co		34,732
		TOTAL REAL ESTATE		312,506
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.15%
5,927	*	Goodyear Tire & Rubber Co		105,678
19,097		Newell Rubbermaid, Inc		320,639
10,589	e	Sealed Air Corp		201,297
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		627,614
SECURITY AND COMMODITY BROKERS - 3.08%
15,384		Ameriprise Financial, Inc		625,667
338	e	BlackRock, Inc		59,826
1,366	*	CME Group, Inc		523,438
869	*	Corrections Corp of America		23,871
21,017	e*	E*Trade Financial Corp		65,993
4,977		Franklin Resources, Inc		456,142
24,268		Goldman Sachs Group, Inc		4,244,473
23,382		Invesco Ltd		560,700
834		Janus Capital Group, Inc		22,076
9,337	e	Jefferies Group, Inc		157,048
9,583		Legg Mason, Inc		417,531
38,718		Lehman Brothers Holdings, Inc		767,004
67,587		Merrill Lynch & Co, Inc		2,143,184
3,700	e*	MF Global Ltd		23,347
71,886		Morgan Stanley		2,592,928
4,240	e*	Nasdaq Stock Market, Inc		112,572
7,253		NYSE Euronext		367,437
6,658	e	Raymond James Financial, Inc		175,705
		TOTAL SECURITY AND COMMODITY BROKERS		13,338,942

91

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
SPECIAL TRADE CONTRACTORS - 0.02%
2,626	*	Quanta Services, Inc	$	87,367
		TOTAL SPECIAL TRADE CONTRACTORS		87,367
STONE, CLAY, AND GLASS PRODUCTS - 0.12%
5,268	*	Owens Corning, Inc		119,847
8,211	*	Owens-Illinois, Inc		342,317
2,083	e*	USG Corp		61,594
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		523,758
TOBACCO PRODUCTS - 0.39%
36,422		Altria Group, Inc		748,836
5,714	*	Lorillard, Inc		395,180
9,976	e	UST, Inc		544,789
		TOTAL TOBACCO PRODUCTS		1,688,805
TRANSPORTATION BY AIR - 0.61%
8,580	*	AMR Corp		43,930
6,822	*	Continental Airlines, Inc (Class B)		68,970
545		Copa Holdings S.A. (Class A)		15,347
10,069	*	Delta Air Lines, Inc		57,393
21,395		FedEx Corp		1,685,712
16,850	*	Northwest Airlines Corp		112,221
50,502		Southwest Airlines Co		658,546
		TOTAL TRANSPORTATION BY AIR		2,642,119
TRANSPORTATION EQUIPMENT - 2.05%
5,014		Autoliv, Inc		233,753
149,586	e*	Ford Motor Co		719,509
27,496		General Dynamics Corp		2,315,163
33,711	e	General Motors Corp		387,677
11,766		Genuine Parts Co		466,875
1,822		Harley-Davidson, Inc		66,066
17,821		Northrop Grumman Corp		1,192,225
1,559		Oshkosh Truck Corp		32,256
9,028	*	Pactiv Corp		191,664
18,486		Raytheon Co		1,040,392
7,226	*	Spirit Aerosystems Holdings, Inc (Class A)		138,595
1,717		Thor Industries, Inc		36,503
5,580	e	Trinity Industries, Inc		193,570
3,147	*	TRW Automotive Holdings Corp		58,125
28,875		United Technologies Corp		1,781,588
		TOTAL TRANSPORTATION EQUIPMENT		8,853,961
TRANSPORTATION SERVICES - 0.03%
2,813		GATX Corp		124,700
		TOTAL TRANSPORTATION SERVICES		124,700
TRUCKING AND WAREHOUSING - 0.03%
2,628	e	Con-way, Inc		124,199
		TOTAL TRUCKING AND WAREHOUSING		124,199
WATER TRANSPORTATION - 0.32%
3,099	e	Alexander & Baldwin, Inc		141,159
23,950		Carnival Corp		789,392
1,749		Overseas Shipholding Group, Inc		139,080

92

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
9,453	e	Royal Caribbean Cruises Ltd	$	212,409
2,655	e	Teekay Corp		119,953
		TOTAL WATER TRANSPORTATION		1,401,993
WHOLESALE TRADE-DURABLE GOODS - 0.22%
7,719	*	Arrow Electronics, Inc		237,128
1,187		BorgWarner, Inc		52,679
11,513	*	Ingram Micro, Inc (Class A)		204,356
209		Martin Marietta Materials, Inc		21,650
4,153		Reliance Steel & Aluminum Co		320,155
3,126	*	Tech Data Corp		105,940
713	*	WESCO International, Inc		28,549
		TOTAL WHOLESALE TRADE-DURABLE GOODS		970,457
WHOLESALE TRADE-NONDURABLE GOODS - 0.12%
1,501	e	Brown-Forman Corp (Class B)		113,431
6,209		Cardinal Health, Inc		320,260
2,378	*	Dean Foods Co		46,656
765	*	Endo Pharmaceuticals Holdings, Inc		18,505
448	*	Henry Schein, Inc		23,105
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		521,957
		TOTAL COMMON STOCKS		429,567,551
		(Cost $484,771,548)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 8.22%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.28%
$1,190,000		Federal Home Loan Bank (FHLB), 01/02/08		1,190,000
				1,190,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 7.94%
34,353,515		State Street Navigator Securities Lending Prime Portfolio		35,543,515
				35,543,515
		TOTAL SHORT-TERM INVESTMENTS		35,543,515
		(Cost $35,543,515)
		TOTAL PORTFOLIO - 107.79%
		(Cost $520,315,063)		466,301,066
		OTHER ASSETS & LIABILITIES, NET - (7.79)%		(33,700,027	)
		NET ASSETS - 100.00%	$	432,601,039
		The following abbreviations are used in portfolio descriptions:
		REIT  -  Real Estate Investment Trust
	*	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 $373,600.
	e	All or a portion of these securities are out on loan.
		At June 30, 2008, the unrealized appreciation on investments was $55,203,997 consisting of
		gross unrealized appreciation of $92,709,136 and gross unrealized depreciation of $37,506,139.

93

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

	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE	DATE	(DEPRECIATION)
E-mini S&P 500 Index	18	$ 1,152,990	September 2008	$(24,234)

94

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.10%
AGRICULTURAL PRODUCTION-CROPS - 0.00%**
3,805	*	Chiquita Brands International, Inc	$	57,722
		TOTAL AGRICULTURAL PRODUCTION-CROPS		57,722
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.01%
954	e	Cal-Maine Foods, Inc		31,472
3,687	e	Pilgrim's Pride Corp		47,894
25	e	Seaboard Corp		38,775
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		118,141
AGRICULTURAL SERVICES - 0.00%**
864	e*	Cadiz, Inc		13,928
812		Calavo Growers, Inc		9,947
		TOTAL AGRICULTURAL SERVICES		23,875
AMUSEMENT AND RECREATION SERVICES - 0.57%
24,120	*	Activision, Inc		821,768
4,307	*	Bally Technologies, Inc		145,577
689		Churchill Downs, Inc		24,025
736	e	Dover Downs Gaming & Entertainment, Inc		4,725
3,080	e	International Speedway Corp (Class A)		120,212
2,221	e*	Leapfrog Enterprises, Inc		18,479
2,855	e*	Life Time Fitness, Inc		84,365
6,113	e*	Live Nation, Inc		64,675
3,992	e*	Marvel Entertainment, Inc		128,303
5,847	*	Penn National Gaming, Inc		187,981
5,760	e*	Pinnacle Entertainment, Inc		60,422
5,973	e*	Six Flags, Inc		6,869
1,544	e	Speedway Motorsports, Inc		31,467
1,184	e*	Town Sports International Holdings, Inc		11,059
156,039	*	Walt Disney Co		4,868,417
3,298	e*	Warner Music Group Corp		23,548
4,672	v*	Westwood One, Inc		5,653
3,592	*	WMS Industries, Inc		106,934
1,665	e	World Wrestling Entertainment, Inc		25,758
		TOTAL AMUSEMENT AND RECREATION SERVICES		6,740,237
APPAREL AND ACCESSORY STORES - 0.48%
6,870		Abercrombie & Fitch Co (Class A)		430,612
5,488	*	Aeropostale, Inc		171,939
14,212		American Eagle Outfitters, Inc		193,710
5,041	e*	AnnTaylor Stores Corp		120,782
3,149	e	Bebe Stores, Inc		30,262
2,831	e	Brown Shoe Co, Inc		38,360
1,275		Buckle, Inc		58,306
793	*	Cache, Inc		8,485

95

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,241	*	Carter's, Inc	$	58,611
2,133	e*	Casual Male Retail Group, Inc		6,506
2,314	e	Cato Corp (Class A)		32,951
2,203	*	Charlotte Russe Holding, Inc		39,125
11,398	e*	Charming Shoppes, Inc		52,317
14,947	*	Chico's FAS, Inc		80,265
1,990	e*	Children's Place Retail Stores, Inc		71,839
2,342	e	Christopher & Banks Corp		15,926
1,134	e*	Citi Trends, Inc		25,696
4,864	e*	Collective Brands, Inc		56,568
4,020	e*	Dress Barn, Inc		53,787
1,121	e*	DSW, Inc (Class A)		13,205
4,929	e	Finish Line, Inc (Class A)		42,882
11,482		Foot Locker, Inc		142,951
39,853		Gap, Inc		664,350
7,801	*	Hanesbrands, Inc		211,719
3,079	*	HOT Topic, Inc		16,657
3,580	e*	J Crew Group, Inc		118,176
1,794	e*	Jo-Ann Stores, Inc		41,316
1,448	e*	JOS A Bank Clothiers, Inc		38,734
25,284	*	Kohl's Corp		1,012,371
23,302		Limited Brands, Inc		392,639
3,344	*	New York & Co, Inc		30,531
14,897	e	Nordstrom, Inc		451,379
5,259	*	Pacific Sunwear Of California, Inc		44,859
11,074		Ross Stores, Inc		393,348
407	e*	Shoe Carnival, Inc		4,799
3,326		Stage Stores, Inc		38,814
3,118	e	Talbots, Inc		36,138
2,198	*	Tween Brands, Inc		36,179
2,684	e*	Under Armour, Inc (Class A)		68,818
8,830	e*	Urban Outfitters, Inc		275,408
11,688	*	Wet Seal, Inc (Class A)		55,752
		TOTAL APPAREL AND ACCESSORY STORES		5,677,072
APPAREL AND OTHER TEXTILE PRODUCTS - 0.16%
1,043	e	Columbia Sportswear Co		38,330
963	e*	G-III Apparel Group Ltd		11,883
4,801		Guess ?, Inc		179,797
2,494	*	Gymboree Corp		99,935
7,074		Jones Apparel Group, Inc		97,268
7,812	e	Liz Claiborne, Inc		110,540
1,478	e*	Lululemon Athletica, Inc		42,951
3,070	e*	Maidenform Brands, Inc		41,445
4,194		Phillips-Van Heusen Corp		153,584
4,587	e	Polo Ralph Lauren Corp		287,972
10,285	*	Quiksilver, Inc		100,999
2,045	e*	True Religion Apparel, Inc		54,499
7,138		VF Corp		508,083
3,618	*	Warnaco Group, Inc		159,445
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,886,731
AUTO REPAIR, SERVICES AND PARKING - 0.07%
741	e*	Amerco, Inc		35,331

96

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,651	e*	Dollar Thrifty Automotive Group, Inc	$	25,052
6,138	*	Exide Technologies		102,873
1,439	*	Federal Mogul Corp (Class A)		23,211
25,694	*	Hertz Global Holdings, Inc		246,662
1,441	e*	Midas, Inc		19,454
1,021		Monro Muffler, Inc		15,815
4,712		Ryder System, Inc		324,563
432	*	Standard Parking Corp		7,862
3,275	e*	Wright Express Corp		81,220
		TOTAL AUTO REPAIR, SERVICES AND PARKING		882,043
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.15%
7,799		Advance Auto Parts		302,835
793	*	America's Car-Mart, Inc		14,210
1,878		Asbury Automotive Group, Inc		24,132
9,448	e*	Autonation, Inc		94,669
3,365	*	Autozone, Inc		407,199
17,409	e*	Carmax, Inc		247,034
5,573	*	Copart, Inc		238,636
5,566	e*	CSK Auto Corp		58,332
810	e*	MarineMax, Inc		5,808
9,194	*	O'Reilly Automotive, Inc		205,486
3,336	e	Penske Auto Group, Inc		49,172
3,408	*	Rush Enterprises, Inc (Class A)		40,930
2,558	e	Sonic Automotive, Inc (Class A)		32,973
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,721,416
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.52%
1,177	e*	Builders FirstSource, Inc		6,250
4,698	e*	Central Garden and Pet Co (Class A)		19,262
10,436		Fastenal Co		450,418
137,193		Home Depot, Inc		3,213,060
119,620		Lowe's Cos, Inc		2,482,115
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		6,171,105
BUSINESS SERVICES - 7.23%
32,406	*	3Com Corp		68,701
733	e*	3D Systems Corp		6,964
3,785	e	Aaron Rents, Inc		84,519
3,560	e	ABM Industries, Inc		79,210
48,867		Accenture Ltd (Class A)		1,989,864
2,535	e*	ACI Worldwide, Inc		44,591
3,842	e*	Actuate Corp		15,022
5,011	e	Acxiom Corp		57,576
2,262	e	Administaff, Inc		63,087
43,519	*	Adobe Systems, Inc		1,714,213
1,354	e*	Advent Software, Inc		48,852
7,319	*	Affiliated Computer Services, Inc (Class A)		391,493
2,627	e	Aircastle Ltd		22,093
13,776	e*	Akamai Technologies, Inc		479,267
6,413	*	Alliance Data Systems Corp		362,655
15,924	*	Amdocs Ltd		468,484
3,052	*	American Reprographics Co		50,816
1,790		American Software, Inc (Class A)		10,096

97

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,535	*	AMN Healthcare Services, Inc	$	59,812
1,886	*	Ansoft Corp		68,650
6,183	*	Ansys, Inc		291,343
2,421	e	Arbitron, Inc		114,998
7,125	e*	Ariba, Inc		104,809
13,431	*	Art Technology Group, Inc		42,979
1,465	e	Asset Acceptance Capital Corp		17,902
1,686	e*	athenahealth, Inc		51,861
18,575	*	Autodesk, Inc		628,021
42,663		Automatic Data Processing, Inc		1,787,580
9,053	e*	Avis Budget Group, Inc		75,774
4,038	*	Avocent Corp		75,107
1,039	e*	Bankrate, Inc		40,594
14,716	e,v*	BearingPoint, Inc		12,067
1,940	*	BGC Partners, Inc (Class A)		14,647
3,724		Blackbaud, Inc		79,694
2,280	*	Blackboard, Inc		87,164
2,420	e*	Blue Coat Systems, Inc		34,146
15,886	*	BMC Software, Inc		571,896
761	*	Bottomline Technologies, Inc		7,405
5,390	e*	BPZ Energy, Inc		158,466
4,265		Brady Corp (Class A)		147,270
3,327		Brink's Co		217,652
31,787		CA, Inc		733,962
2,883	*	CACI International, Inc (Class A)		131,955
21,979	*	Cadence Design Systems, Inc		221,988
2,394	*	Callidus Software, Inc		11,970
1,160	*	Capella Education Co		69,194
2,460	*	Cavium Networks, Inc		51,660
4,380	e*	CBIZ, Inc		34,821
5,532	e*	Cerner Corp		249,936
5,257	*	ChoicePoint, Inc		253,387
2,094	*	Chordiant Software, Inc		10,470
3,178	*	Ciber, Inc		19,735
15,324	*	Citrix Systems, Inc		450,679
3,570	*	Clear Channel Outdoor Holdings, Inc (Class A)		63,653
847	*	Clinical Data, Inc		12,087
4,277	*	CMGI, Inc		45,336
4,484	*	Cogent Communications Group, Inc		60,086
3,986	e*	Cogent, Inc		45,321
3,905	e	Cognex Corp		90,010
23,562	*	Cognizant Technology Solutions Corp (Class A)		766,001
3,503	*	Commvault Systems, Inc		58,290
1,988	e	Compass Diversified Trust		22,723
1,189	*	Compellent Technologies, Inc		13,483
1,662		Computer Programs & Systems, Inc		28,802
12,357	*	Computer Sciences Corp		578,802
22,024	*	Compuware Corp		210,109
847	e*	COMSYS IT Partners, Inc		7,725
3,532	e*	Concur Technologies, Inc		117,368
1,682	e*	Constant Contact, Inc		31,706
10,212	*	Convergys Corp		151,750
1,788	e*	CoStar Group, Inc		79,477
3,313	*	CSG Systems International, Inc		36,509

98

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
5,817	*	Cybersource Corp	$	97,318
2,709	e*	Data Domain, Inc		63,201
3,491	e*	DealerTrack Holdings, Inc		49,258
1,730	e*	Deltek, Inc		13,113
4,616		Deluxe Corp		82,257
2,100	e*	Dice Holdings, Inc		17,346
1,672	*	Digimarc Corp		23,676
2,984	*	Digital River, Inc		115,123
2,470	*	DivX, Inc		18,130
1,220	*	Double-Take Software, Inc		16,763
3,710	e*	DST Systems, Inc		204,236
2,712	e*	DynCorp International, Inc (Class A)		41,087
9,238	*	Earthlink, Inc		79,909
91,224	*	eBay, Inc		2,493,152
170	*	Ebix, Inc		13,212
3,244	e*	Echelon Corp		35,360
4,098	e*	Eclipsys Corp		75,239
1,211		Electro Rent Corp		15,186
26,040	*	Electronic Arts, Inc		1,156,957
43,001		Electronic Data Systems Corp		1,059,545
5,133	*	Entrust, Inc		15,091
4,217	e*	Epicor Software Corp		29,139
2,843	e*	EPIQ Systems, Inc		40,371
10,612		Equifax, Inc		356,775
2,725	e*	Equinix, Inc		243,125
7,422	e*	Evergreen Energy, Inc		12,914
1,660	e*	ExlService Holdings, Inc		23,290
16,967	*	Expedia, Inc		311,853
6,964	e*	F5 Networks, Inc		197,917
3,326	e	Factset Research Systems, Inc		187,453
4,520	e	Fair Isaac Corp		93,880
1,951	e*	FalconStor Software, Inc		13,813
15,431		Fidelity National Information Services, Inc		569,558
817	*	First Advantage Corp (Class A)		12,949
13,413	*	Fiserv, Inc		608,548
1,148	*	Forrester Research, Inc		35,450
1,910	e	FTD Group, Inc		25,460
5,026	e*	Gartner, Inc		104,139
1,509	*	Gerber Scientific, Inc		17,172
4,115	*	Getty Images, Inc		139,622
1,781	e	Gevity HR, Inc		9,582
3,223	e*	Global Cash Access, Inc		22,110
1,260	e*	Global Sources Ltd		19,127
19,379	*	Google, Inc (Class A)		10,201,493
1,315	e*	H&E Equipment Services, Inc		15,806
3,427	*	Hackett Group, Inc		19,671
3,917	e	Healthcare Services Group		59,578
2,009	e	Heartland Payment Systems, Inc		47,412
1,765	e	Heidrick & Struggles International, Inc		48,785
14,475	e*	HLTH Corp		163,857
2,040	e*	HMS Holdings Corp		43,799
2,798	*	Hudson Highland Group, Inc		29,295
3,858	*	Hypercom Corp		16,975
989	e*	i2 Technologies, Inc		12,293

99

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
289	*	ICT Group, Inc	$	2,370
1,316	*	iGate Corp		10,699
3,537	*	IHS, Inc (Class A)		246,175
14,826		IMS Health, Inc		345,446
2,444		infoGROUP, Inc		10,729
7,187	*	Informatica Corp		108,092
2,104		Infospace, Inc		17,526
2,615	e*	Innerworkings, Inc		31,275
859	e	Integral Systems, Inc		33,243
3,578		Interactive Data Corp		89,915
955	e*	Interactive Intelligence, Inc		11,116
5,824	e*	Internap Network Services Corp		27,256
1,767	*	Internet Brands, Inc		11,715
2,383	e*	Internet Capital Group, Inc		18,421
38,241	e*	Interpublic Group of Cos, Inc		328,873
3,727	*	Interwoven, Inc		44,761
26,324	*	Intuit, Inc		725,753
2,569	*	inVentiv Health, Inc		71,393
14,464	*	Iron Mountain, Inc		384,019
6,226	e	Jack Henry & Associates, Inc		134,731
2,086	*	JDA Software Group, Inc		37,757
42,780	*	Juniper Networks, Inc		948,860
1,857	e	Kelly Services, Inc (Class A)		35,896
1,834	e*	Kenexa Corp		34,553
1,118	e*	Keynote Systems, Inc		14,400
2,364	*	Kforce, Inc		20,070
4,352	e*	Kinetic Concepts, Inc		173,688
1,958	e*	Knot, Inc		19,149
3,407	*	Korn/Ferry International		53,592
6,111	e*	Lamar Advertising Co (Class A)		220,179
10,291	*	Lawson Software, Inc		74,816
5,486	e*	Limelight Networks, Inc		20,957
1,100	e*	Liquidity Services, Inc		12,683
2,806	e*	Magma Design Automation, Inc		17,032
2,138	*	Manhattan Associates, Inc		50,735
6,649		Manpower, Inc		387,238
1,715	*	Mantech International Corp (Class A)		82,526
3,869	e	Marchex, Inc (Class B)		47,666
5,958	e	Mastercard, Inc (Class A)		1,581,968
13,159	*	McAfee, Inc		447,801
6,972	*	Mentor Graphics Corp		110,158
657,083	d	Microsoft Corp		18,076,353
736	*	MicroStrategy, Inc (Class A)		47,656
3,645	e*	Midway Games, Inc		8,019
1,184	*	Monotype Imaging Holdings, Inc		14,421
9,796	e*	Monster Worldwide, Inc		201,896
17,615	e*	Move, Inc		41,043
8,526	*	MPS Group, Inc		90,631
3,168	e*	MSC.Software Corp		34,785
8,057	*	NAVTEQ Corp		620,389
534	*	NCI, Inc (Class A)		12,218
14,013	*	NCR Corp		353,128
2,508	*	Ness Technologies, Inc		25,381
3,597	e*	NetFlix, Inc		93,774

100

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,450	*	Netscout Systems, Inc	$	26,166
578	*	NetSuite, Inc		11,832
2,904		NIC, Inc		19,834
29,031	*	Novell, Inc		170,993
14,101	*	Nuance Communications, Inc		220,963
26,214		Omnicom Group, Inc		1,176,484
5,079	e*	Omniture, Inc		94,317
1,748	*	On Assignment, Inc		14,019
1,355	*	Online Resources Corp		11,314
6,788	e*	OpenTV Corp (Class A)		8,892
318,487	*	Oracle Corp		6,688,227
10,034	*	Parametric Technology Corp		167,267
1,702		PC-Tel, Inc		16,322
613	e	Pegasystems, Inc		8,251
1,250	*	PeopleSupport, Inc		10,625
2,126	e*	Perficient, Inc		20,537
7,252	*	Perot Systems Corp (Class A)		108,853
4,418	*	Phase Forward, Inc		79,391
2,203	*	Phoenix Technologies Ltd		24,233
1,446	e*	Portfolio Recovery Associates, Inc		54,225
4,486	*	Premiere Global Services, Inc		65,406
3,401	*	Progress Software Corp		86,964
1,059	*	PROS Holdings, Inc		11,893
1,388	e	QAD, Inc		9,397
1,771	e	Quality Systems, Inc		51,855
5,845	*	Quest Software, Inc		86,564
1,378	*	Radiant Systems, Inc		14,786
1,137	*	Radisys Corp		10,301
4,430	e*	Raser Technologies, Inc		43,148
8,011	*	RealNetworks, Inc		52,873
15,607	e*	Red Hat, Inc		322,909
612	e	Renaissance Learning, Inc		6,861
5,338	*	Rent-A-Center, Inc		109,803
2,295	*	RightNow Technologies, Inc		31,373
1,600	e*	Riskmetrics Group Inc		31,424
11,891		Robert Half International, Inc		285,027
4,417		Rollins, Inc		65,460
3,888	e*	RSC Holdings, Inc		36,003
5,134	*	S1 Corp		38,864
8,602	*	Salesforce.com, Inc		586,914
7,164	*	Sapient Corp		45,993
5,132	e*	Secure Computing Corp		21,246
850	e*	SI International, Inc		17,799
2,460	e*	Smith Micro Software, Inc		14,022
2,397	e*	Sohu.com, Inc		168,845
4,133	*	SonicWALL, Inc		26,658
19,829	e*	Sonus Networks, Inc		67,815
5,488	e	Sotheby's		144,719
1,689	*	Sourcefire, Inc		13,056
4,940	*	Spherion Corp		22,823
1,267	*	SPSS, Inc		46,081
3,686	*	SRA International, Inc (Class A)		82,788
1,182	e*	Stratasys, Inc		21,820
1,835	*	SuccessFactors, Inc		20,093

101

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
63,519	*	Sun Microsystems, Inc	$	691,087
3,687	*	SupportSoft, Inc		11,983
6,717	*	Sybase, Inc		197,614
2,708	*	SYKES Enterprises, Inc		51,073
69,212	*	Symantec Corp		1,339,252
2,336	e*	Synchronoss Technologies, Inc		21,094
1,827	e*	SYNNEX Corp		45,839
11,318	*	Synopsys, Inc		270,613
932	e	Syntel, Inc		31,427
6,176	*	Take-Two Interactive Software, Inc		157,920
1,294		TAL International Group, Inc		29,426
1,871	e*	Taleo Corp (Class A)		36,653
1,091	*	TechTarget, Inc		11,521
3,895	*	TeleTech Holdings, Inc		77,744
807		Textainer Group Holdings Ltd		15,761
1,213		TheStreet.com, Inc		7,897
5,002	e*	THQ, Inc		101,341
16,150	*	TIBCO Software, Inc		123,547
1,603	*	TNS, Inc		38,408
13,573		Total System Services, Inc		301,592
2,582	*	TradeStation Group, Inc		26,207
3,529	e*	Trizetto Group, Inc		75,450
3,536	e*	TrueBlue, Inc		46,711
1,793	*	Ultimate Software Group, Inc		63,885
26,675	*	Unisys Corp		105,366
5,489		United Online, Inc		55,054
6,707	*	United Rentals, Inc		131,524
8,046	*	Valueclick, Inc		121,897
2,516	e*	Vasco Data Security International		26,493
15,844	e*	VeriSign, Inc		598,903
1,605		Viad Corp		41,393
1,973	e*	Vignette Corp		23,676
36,631		Visa, Inc (Class A)		2,978,466
3,388	e*	VMware, Inc (Class A)		182,478
1,323	*	Vocus, Inc		42,561
667	*	Volt Information Sciences, Inc		7,944
40,140		Waste Management, Inc		1,513,679
653	e*	WebMD Health Corp (Class A)		18,219
4,018	*	Websense, Inc		67,663
2,225	*	Website Pros, Inc		18,534
5,919	*	Wind River Systems, Inc		64,458
112,793	*	Yahoo!, Inc		2,330,303
		TOTAL BUSINESS SERVICES		85,086,615
CHEMICALS AND ALLIED PRODUCTS - 9.30%
126,288		Abbott Laboratories		6,689,475
474	*	Abraxis Bioscience, Inc		30,080
1,835	e*	Acadia Pharmaceuticals, Inc		6,771
3,194	*	Acorda Therapeutics, Inc		104,859
3,770	*	Adolor Corp		20,660
17,237		Air Products & Chemicals, Inc		1,704,050
1,838	*	Albany Molecular Research, Inc		24,390
7,394		Albemarle Corp		295,095
6,892		Alberto-Culver Co		181,053

102

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,001	*	Alexion Pharmaceuticals, Inc	$	217,573
1,440	e*	Alexza Pharmaceuticals, Inc		5,674
7,300	*	Alkermes, Inc		90,228
3,109	e*	Allos Therapeutics, Inc		21,483
3,382	e*	Alnylam Pharmaceuticals, Inc		90,401
3,647	e*	Alpharma, Inc (Class A)		82,167
1,383	e*	AMAG Pharmaceuticals, Inc		47,160
4,965	e*	American Oriental Bioengineering, Inc		49,005
854	e	American Vanguard Corp		10,504
89,382	*	Amgen, Inc		4,215,255
1,899	e*	APP Pharmaceuticals, Inc		31,751
2,248	e	Arch Chemicals, Inc		74,521
909	*	Ardea Biosciences, Inc		11,653
4,430	e*	Arena Pharmaceuticals, Inc		22,992
2,419	e*	Arqule, Inc		7,862
3,457	e*	Array Biopharma, Inc		16,248
3,357	e*	Auxilium Pharmaceuticals, Inc		112,862
1,257	*	Avant Immunotherapeutics, Inc		18,302
2,040	e*	Aventine Renewable Energy Holdings, Inc		8,976
8,278		Avery Dennison Corp		363,653
34,912		Avon Products, Inc		1,257,530
1,121	e	Balchem Corp		25,929
8,689	*	Barr Pharmaceuticals, Inc		391,700
1,222	e*	Bentley Pharmaceuticals, Inc		19,735
899	*	Biodel, Inc		11,687
23,751	*	Biogen Idec, Inc		1,327,443
8,036	*	BioMarin Pharmaceuticals, Inc		232,883
780	e*	BioMimetic Therapeutics, Inc		9,298
161,588		Bristol-Myers Squibb Co		3,317,402
5,474	e	Cabot Corp		133,073
1,206	e*	Cadence Pharmaceuticals, Inc		7,345
4,732	e*	Calgon Carbon Corp		73,157
1,937	*	Cambrex Corp		11,370
1,195	e*	Caraco Pharmaceutical Laboratories Ltd		15,774
12,104		Celanese Corp (Series A)		552,669
7,425	e*	Cell Genesys, Inc		19,305
5,537	e*	Cephalon, Inc		369,263
4,613		CF Industries Holdings, Inc		704,866
5,567	*	Charles River Laboratories International, Inc		355,843
1,668	e*	Chattem, Inc		108,503
19,867		Chemtura Corp		116,023
5,483		Church & Dwight Co, Inc		308,967
11,276		Clorox Co		588,607
41,569		Colgate-Palmolive Co		2,872,418
3,988	*	Columbia Laboratories, Inc		13,160
1,228	*	Cougar Biotechnology, Inc		29,263
4,583	e*	Cubist Pharmaceuticals, Inc		81,852
3,964	e*	Cypress Bioscience, Inc		28,501
3,895		Cytec Industries, Inc		212,511
1,097	e*	Cytokinetics, Inc		4,070
1,557	*	Cytori Therapeutics, Inc		10,089
6,977	e*	Dendreon Corp		31,048
19,164	e*	Discovery Laboratories, Inc		31,621
76,137		Dow Chemical Co		2,657,943

103

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
73,710		Du Pont (E.I.) de Nemours & Co	$	3,161,422
7,981	e*	Durect Corp		29,290
6,245		Eastman Chemical Co		430,031
14,091		Ecolab, Inc		605,772
81,880		Eli Lilly & Co		3,779,581
2,605	e*	Elizabeth Arden, Inc		39,544
1,058	*	Emergent Biosolutions, Inc		10,506
2,740	e*	Enzon Pharmaceuticals, Inc		19,509
8,011	e	Estee Lauder Cos (Class A)		372,111
3,162		Ferro Corp		59,319
6,121		FMC Corp		474,010
24,931	*	Forest Laboratories, Inc		866,103
38,472	*	Genentech, Inc		2,920,025
21,734	*	Genzyme Corp		1,565,283
6,239	e*	Geron Corp		21,525
75,765	*	Gilead Sciences, Inc		4,011,757
1,380	e*	GTx, Inc		19,803
4,559		H.B. Fuller Co		102,304
4,685	e*	Halozyme Therapeutics, Inc		25,205
9,549		Hercules, Inc		161,665
12,814	*	Hospira, Inc		513,970
10,809	e*	Human Genome Sciences, Inc		56,315
12,471		Huntsman Corp		142,169
2,336	*	ICO, Inc		14,063
1,955	e*	Idenix Pharmaceuticals, Inc		14,213
1,706	*	Idera Pharmaceuticals, Inc		24,925
5,270	*	Idexx Laboratories, Inc		256,860
4,930	e*	ImClone Systems, Inc		199,468
5,740	*	Immucor, Inc		148,551
3,428	*	Immunogen, Inc		10,490
3,142	e*	Indevus Pharmaceuticals, Inc		4,933
1,522		Innophos Holdings, Inc		48,628
1,454		Innospec, Inc		27,364
3,397	*	Inspire Pharmaceuticals, Inc		14,539
626	e	Inter Parfums, Inc		9,390
2,057	e*	InterMune, Inc		26,988
6,575		International Flavors & Fragrances, Inc		256,820
6,045	e*	Inverness Medical Innovations, Inc		200,513
7,612	e*	Invitrogen Corp		298,847
10,988	e*	Javelin Pharmaceuticals, Inc		25,492
1,282		Kaiser Aluminum Corp		68,625
19,586	*	King Pharmaceuticals, Inc		205,065
1,718		Koppers Holdings, Inc		71,933
2,762	e*	KV Pharmaceutical Co (Class A)		53,389
1,531	*	Landec Corp		9,906
6,598	e*	Ligand Pharmaceuticals, Inc (Class B)		17,155
5,486		Lubrizol Corp		254,166
930	e	Mannatech, Inc		5,059
3,013	e*	MannKind Corp		9,039
2,703	e*	Martek Biosciences Corp		91,118
10,830	e*	Medarex, Inc		71,586
4,277	*	Medicines Co		84,770
4,145	e	Medicis Pharmaceutical Corp (Class A)		86,133
1,542	e*	Medivation, Inc		18,242

104

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
175,643		Merck & Co, Inc	$	6,619,985
3,696	e	Meridian Bioscience, Inc		99,496
1,545		Minerals Technologies, Inc		98,247
1,900	*	Momenta Pharmaceuticals, Inc		23,370
44,966		Monsanto Co		5,685,501
12,675		Mosaic Co		1,834,073
24,874	e	Mylan Laboratories, Inc		300,229
4,366	e*	Nabi Biopharmaceuticals		17,202
11,321	e	Nalco Holding Co		239,439
4,413	*	NBTY, Inc		141,481
2,863	e*	Neurocrine Biosciences, Inc		11,996
1,171	e	NewMarket Corp		77,555
465	e	NL Industries, Inc		4,431
1,927	e*	Noven Pharmaceuticals, Inc		20,600
3,911	*	NPS Pharmaceuticals, Inc		17,404
1,463	*	Obagi Medical Products, Inc		12,509
6,115		Olin Corp		160,091
2,490	e*	OM Group, Inc		81,647
1,002	e*	Omrix Biopharmaceuticals, Inc		15,771
4,429	e*	Onyx Pharmaceuticals, Inc		157,672
2,000	*	Optimer Pharmaceuticals, Inc		16,220
2,833	e*	OraSure Technologies, Inc		10,595
1,613	*	Orexigen Therapeutics, Inc		12,727
4,494	e*	OSI Pharmaceuticals, Inc		185,692
2,710	e*	Osiris Therapeutics, Inc		34,824
5,426	e*	Pacific Ethanol, Inc		9,821
2,404	e*	Pain Therapeutics, Inc		18,992
2,342	e*	Par Pharmaceutical Cos, Inc		38,011
5,254	*	Parexel International Corp		138,233
9,750		PDL BioPharma, Inc		103,545
6,178		Perrigo Co		196,275
1,235	e*	PetMed Express, Inc		15,129
553,625		Pfizer, Inc		9,671,829
1,267	*	Pharmasset, Inc		23,921
2,476	*	PharMerica Corp		55,933
7,706	*	PolyOne Corp		53,711
3,470	e*	Pozen, Inc		37,754
13,331		PPG Industries, Inc		764,799
25,684		Praxair, Inc		2,420,460
2,719	e*	Prestige Brands Holdings, Inc		28,985
249,868		Procter & Gamble Co		15,194,473
3,261	e*	Progenics Pharmaceuticals, Inc		51,752
167	e*	Protalix BioTherapeutics, Inc		453
4,472	*	Questcor Pharmaceuticals, Inc		20,750
2,065	e*	Quidel Corp		34,114
3,302	*	Rockwood Holdings, Inc		114,909
11,000		Rohm & Haas Co		510,840
9,617		RPM International, Inc		198,110
2,713	e*	Salix Pharmaceuticals Ltd		19,072
132,385		Schering-Plough Corp		2,606,660
2,551	e	Sciele Pharma, Inc		49,362
3,192		Scotts Miracle-Gro Co (Class A)		56,083
4,395		Sensient Technologies Corp		123,763
8,506	e*	Sepracor, Inc		169,439

105

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
8,235	e	Sherwin-Williams Co	$	378,232
10,702		Sigma-Aldrich Corp		576,410
4,947	*	Solutia, Inc		63,420
642		Stepan Co		29,288
1,619	e*	SurModics, Inc		72,596
1,444	*	Targacept, Inc		10,498
2,496	e*	Tercica, Inc		22,040
4,200	*	Theravance, Inc		49,854
3,584	*	Third Wave Technologies, Inc		39,997
900	e*	Ulta Salon Cosmetics & Fragrance, Inc		10,116
1,951	*	United Therapeutics Corp		190,710
1,120	e*	USANA Health Sciences, Inc		30,094
10,109	e*	USEC, Inc		61,463
6,363	e*	Valeant Pharmaceuticals International		108,871
7,746	e	Valspar Corp		146,477
7,076	*	VCA Antech, Inc		196,571
8,253	e*	Verasun Energy Corp		34,085
11,203	*	Vertex Pharmaceuticals, Inc		374,964
6,600	e*	Viropharma, Inc		72,996
8,076	*	Warner Chilcott Ltd (Class A)		136,888
8,552	e*	Watson Pharmaceuticals, Inc		232,358
2,076	e	Westlake Chemical Corp		30,849
6,088	e*	WR Grace & Co		143,007
109,103		Wyeth		5,232,580
2,069	*	Xenoport, Inc		80,753
9,644	e*	XOMA Ltd		16,298
2,506	e*	Zymogenetics, Inc		21,101
		TOTAL CHEMICALS AND ALLIED PRODUCTS		109,469,491
COAL MINING - 0.51%
5,740	*	Alpha Natural Resources, Inc		598,625
11,753		Arch Coal, Inc		881,827
14,926		Consol Energy, Inc		1,677,235
9,945	e*	International Coal Group, Inc		129,782
2,070	*	James River Coal Co		121,488
6,593		Massey Energy Co		618,094
2,110	*	National Coal Corp		18,716
22,169		Peabody Energy Corp		1,951,980
779	*	Westmoreland Coal Co		16,445
		TOTAL COAL MINING		6,014,192
COMMUNICATIONS - 4.06%
3,573	e	Alaska Communications Systems Group, Inc		42,662
32,244	*	American Tower Corp (Class A)		1,362,309
2,386	e*	Anixter International, Inc		141,943
3,680	*	Aruba Networks, Inc		19,246
486,491		AT&T, Inc		16,389,882
800	e	Atlantic Tele-Network, Inc		22,008
1,395	e*	Audiovox Corp (Class A)		13,699
3,879	e*	Brightpoint, Inc		28,317
18,171	*	Cablevision Systems Corp (Class A)		410,665
1,494	e*	Cbeyond Communications, Inc		23,934
5,507	*	Centennial Communications Corp		38,494
2,950	*	Central European Media Enterprises Ltd (Class A)		267,064

106

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
8,936	e	CenturyTel, Inc	$	318,032
37,646	e*	Charter Communications, Inc (Class A)		39,528
19,849	*	Cincinnati Bell, Inc		78,999
15,267	e*	Citadel Broadcasting Corp		18,626
26,572	e*	Citizens Communications Co		301,326
40,728		Clear Channel Communications, Inc		1,433,626
5,505	e*	Clearwire Corp (Class A)		71,345
229,709		Comcast Corp (Class A)		4,357,580
1,895	e	Consolidated Communications Holdings, Inc		28,217
2,758	e*	Cox Radio, Inc (Class A)		32,544
23,120	*	Crown Castle International Corp		895,438
1,364	e*	Crown Media Holdings, Inc (Class A)		6,465
4,317	*	CTC Media, Inc		106,457
3,320	e*	Cumulus Media, Inc (Class A)		13,081
966	e*	DG FastChannel, Inc		16,664
48,942	*	DIRECTV Group, Inc		1,268,087
16,644	*	DISH Network Corp (Class A)		487,336
12,061		Embarq Corp		570,123
2,549	e	Entercom Communications Corp (Class A)		17,894
4,266	e*	Entravision Communications Corp (Class A)		17,149
6,994	e	Fairpoint Communications, Inc		50,427
8,070	e*	FiberTower Corp		11,298
523	e	Fisher Communications, Inc		18,012
11,950	*	Foundry Networks, Inc		141,249
3,128	e*	General Communication, Inc (Class A)		21,489
1,280	e*	GeoEye, Inc		22,669
3,168	e*	Global Crossing Ltd		56,834
6,441		Global Payments, Inc		300,151
1,429	e*	Globalstar, Inc		4,044
2,720	e	Gray Television, Inc		7,806
2,451	e	Hearst-Argyle Television, Inc		47,059
471	e*	Hughes Communications, Inc		23,121
14,599	*	IAC/InterActiveCorp		281,469
2,397	e	Ibasis, Inc		7,862
7,585	*	ICO Global Communications Holdings Ltd		24,727
3,466	e	IDT Corp (Class B)		5,892
3,362	e	Iowa Telecommunications Services, Inc		59,205
1,117	*	iPCS, Inc		33,097
4,182	e*	j2 Global Communications, Inc		96,186
1,886	e*	Knology, Inc		20,727
4,301	e*	Leap Wireless International, Inc		185,674
128,552	e*	Level 3 Communications, Inc		379,228
26,909	e*	Liberty Global, Inc (Class A)		845,750
10,337	*	Liberty Media Corp - Capital (Series A)		148,853
42,276	*	Liberty Media Corp - Entertainment (Series A)		1,024,347
48,855	*	Liberty Media Holding Corp (Interactive A)		721,100
1,731	e*	Lin TV Corp (Class A)		10,317
3,498	e*	Mastec, Inc		37,289
3,808	e*	Mediacom Communications Corp (Class A)		20,335
19,911	e*	MetroPCS Communications, Inc		352,624
6,087	*	NeuStar, Inc (Class A)		131,236
1,358	*	Neutral Tandem, Inc		23,765
1,998	e*	Nextwave Wireless, Inc		8,072
13,712	*	NII Holdings, Inc		651,183

107

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,620	e*	Novatel Wireless, Inc	$	29,161
2,038		NTELOS Holdings Corp		51,704
2,310	e*	Orbcomm, Inc		13,167
10,136	e*	PAETEC Holding Corp		64,364
123,033	e	Qwest Communications International, Inc		483,519
3,087	e*	RCN Corp		33,278
1,250	e*	Rural Cellular Corp (Class A)		55,637
3,043	e*	SAVVIS, Inc		39,285
8,859	*	SBA Communications Corp (Class A)		319,013
1,530	e	Shenandoah Telecom Co		19,921
2,967	e	Sinclair Broadcast Group, Inc (Class A)		22,549
228,139		Sprint Nextel Corp		2,167,320
1,659	e*	Switch & Data Facilities Co, Inc		28,186
4,213	*	Syniverse Holdings, Inc		68,251
2,661	*	TeleCommunication Systems, Inc		12,320
8,507		Telephone & Data Systems, Inc		402,126
3,425	*	Terremark Worldwide, Inc		18,700
4,704	*	TerreStar Corp		18,722
12,691	e*	Time Warner Cable, Inc (Class A)		336,058
7,817	e*	TiVo, Inc		48,231
1,359	*	US Cellular Corp		76,851
1,775		USA Mobility, Inc		13,401
233,441		Verizon Communications, Inc		8,263,811
2,100	e*	Virgin Mobile USA, Inc		5,775
2,083	e*	Vonage Holdings Corp		3,458
36,639	e	Windstream Corp		452,125
26,087	e*	XM Satellite Radio Holdings, Inc (Class A)		204,522
		TOTAL COMMUNICATIONS		47,863,292
DEPOSITORY INSTITUTIONS - 5.53%
847	e	1st Source Corp		13,637
1,999		Abington Bancorp, Inc		18,231
2,345	e	Amcore Financial, Inc		13,277
686	e	Ameris Bancorp		5,968
529		Ames National Corp		8,850
1,394		Anchor Bancorp Wisconsin, Inc		9,772
721		Arrow Financial Corp		13,072
10,303	e	Associated Banc-Corp		198,745
7,399		Astoria Financial Corp		148,572
744	e	Bancfirst Corp		31,843
1,982		Banco Latinoamericano de Exportaciones S.A.		32,089
7,231	e	Bancorpsouth, Inc		126,470
1,390		BancTrust Financial Group, Inc		9,160
4,203	e	Bank Mutual Corp		42,198
362,680		Bank of America Corp		8,657,172
4,296		Bank of Hawaii Corp		205,349
93,432		Bank of New York Mellon Corp		3,534,533
932	e	Bank of the Ozarks, Inc		13,850
1,731	e	BankFinancial Corp		22,520
932	e	Banner Corp		8,258
44,576	e	BB&T Corp		1,014,996
2,500	e*	Beneficial Mutual Bancorp, Inc		27,675
845		Berkshire Hills Bancorp, Inc		19,984
2,203		BOK Financial Corp		117,750

108

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,625	e	Boston Private Financial Holdings, Inc	$	26,224
4,247	e	Brookline Bancorp, Inc		40,559
543		Bryn Mawr Bank Corp		9,503
629		Camden National Corp		14,643
878	e	Capital City Bank Group, Inc		19,105
838	e	Capitol Bancorp Ltd		7,517
2,231	e	Capitol Federal Financial		83,908
2,055		Cardinal Financial Corp		12,864
1,729	e	Cascade Bancorp		13,313
416	e	Cass Information Systems, Inc		13,324
4,114	e	Cathay General Bancorp		44,719
1,951	e	Central Pacific Financial Corp		20,798
1,721	e	Chemical Financial Corp		35,108
444,775		Citigroup, Inc		7,454,429
728		Citizens & Northern Corp		12,056
6,479	e	Citizens Banking Corp		18,271
1,074	e	City Bank		9,236
1,809	e	City Holding Co		73,753
3,388	e	City National Corp		142,533
665	e	Clifton Savings Bancorp, Inc		6,477
851	e	CoBiz, Inc		5,600
16,441		Colonial Bancgroup, Inc		72,669
1,281	e	Columbia Banking System, Inc		24,762
12,456	e	Comerica, Inc		319,247
5,823		Commerce Bancshares, Inc		230,940
2,176	e	Community Bank System, Inc		44,869
986	e	Community Trust Bancorp, Inc		25,892
2,522	e	Corus Bankshares, Inc		10,492
4,970		Cullen/Frost Bankers, Inc		247,755
4,509	e	CVB Financial Corp		42,565
1,770		Dime Community Bancshares		29,223
1,979	e*	Dollar Financial Corp		29,903
1,702	e	Downey Financial Corp		4,715
5,815	e	East West Bancorp, Inc		41,054
506	e	Enterprise Financial Services Corp		9,538
1,416		ESSA Bancorp, Inc		17,728
3,332	e*	Euronet Worldwide, Inc		56,311
516		Farmers Capital Bank Corp		9,092
41,107		Fifth Third Bancorp		418,470
908		Financial Institutions, Inc		14,582
915	e	First Bancorp		11,566
8,434	e	First Bancorp		53,472
738		First Bancorp, Inc		10,074
2,657	e	First Busey Corp		35,126
531		First Citizens Bancshares, Inc (Class A)		74,069
5,866	e	First Commonwealth Financial Corp		54,730
675	e	First Community Bancshares, Inc		19,035
2,395		First Financial Bancorp		22,034
2,018	e	First Financial Bankshares, Inc		92,445
1,067	e	First Financial Corp		32,661
1,050	e	First Financial Holdings, Inc		18,039
1,879		First Financial Northwest, Inc		18,658
16,032	e	First Horizon National Corp		119,118
1,232	e	First Merchants Corp		22,361

109

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,559	e	First Midwest Bancorp, Inc	$	85,025
9,160		First Niagara Financial Group, Inc		117,798
990	e	First Place Financial Corp		9,306
587	e	First South Bancorp, Inc		7,561
1,227	e*	FirstFed Financial Corp		9,865
6,734	e	FirstMerit Corp		109,832
2,890	e	Flagstar Bancorp, Inc		8,699
1,422	e	Flushing Financial Corp		26,947
7,440	e	FNB Corp		87,643
3,542	e	Frontier Financial Corp		30,178
13,886	e	Fulton Financial Corp		139,554
4,340	e	Glacier Bancorp, Inc		69,397
1,549	e	Greene County Bancshares, Inc		21,717
3,680	e*	Guaranty Bancorp		13,248
2,298	e	Hancock Holding Co		90,288
2,440	e	Hanmi Financial Corp		12,712
2,147	e	Harleysville National Corp		23,961
996	e	Heartland Financial USA, Inc		18,117
751	e	Heritage Commerce Corp		7,435
842	e	Home Bancshares, Inc		18,928
42,482		Hudson City Bancorp, Inc		708,600
28,232		Huntington Bancshares, Inc		162,899
1,293	e	IBERIABANK Corp		57,500
1,012	e	Independent Bank Corp		24,126
9,131	e,v	IndyMac Bancorp, Inc		5,113
1,349	e	Integra Bank Corp		10,563
4,431		International Bancshares Corp		94,690
3,385	*	Investors Bancorp, Inc		44,208
282,722		JPMorgan Chase & Co		9,700,202
1,143	e	Kearny Financial Corp		12,573
32,244		Keycorp		354,039
1,193	e	Lakeland Bancorp, Inc		14,531
484	e	Lakeland Financial Corp		9,235
5,376	e	M&T Bank Corp		379,223
1,551	e	MainSource Financial Group, Inc		24,041
21,032	e	Marshall & Ilsley Corp		322,421
296		MASSBANK Corp		11,716
2,960	e	MB Financial, Inc		66,511
7,352	*	Metavante Technologies, Inc		166,302
995	e	Midwest Banc Holdings, Inc		4,846
1,730	e	Nara Bancorp, Inc		18,563
342	e	NASB Financial, Inc		6,081
60,164	e	National City Corp		286,982
6,442	e	National Penn Bancshares, Inc		85,550
2,846	e	NBT Bancorp, Inc		58,656
3,662	*	Net 1 UEPS Technologies, Inc		88,987
27,262	e	New York Community Bancorp, Inc		486,354
8,912	e	NewAlliance Bancshares, Inc		111,222
18,057		Northern Trust Corp		1,238,168
2,320	*	Northfield Bancorp, Inc		24,940
2,652	e	Northwest Bancorp, Inc		57,867
694		OceanFirst Financial Corp		12,527
5,393	e	Old National Bancorp		76,904
950	e	Old Second Bancorp, Inc		11,039

110

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,407		Oriental Financial Group, Inc	$	20,064
1,094	*	Oritani Financial Corp		17,504
3,392	e	Pacific Capital Bancorp		46,742
835		Pacific Continental Corp		9,177
2,001		PacWest Bancorp		29,775
985	e	Park National Corp		53,092
683		Peapack Gladstone Financial Corp		15,006
404	*	Pennsylvania Commerce Bancorp, Inc		9,716
753		Peoples Bancorp, Inc		14,292
28,285		People's United Financial, Inc		441,246
1,847	e*	Pinnacle Financial Partners, Inc		37,106
28,302		PNC Financial Services Group, Inc		1,616,044
23,544		Popular, Inc		155,155
1,692	e	PrivateBancorp, Inc		51,403
3,071	e	Prosperity Bancshares, Inc		82,088
2,200	e	Provident Bankshares Corp		14,036
4,520		Provident Financial Services, Inc		63,325
2,942		Provident New York Bancorp		32,539
56,322	e	Regions Financial Corp		614,473
2,252	e	Renasant Corp		33,172
405	e	Republic Bancorp, Inc (Class A)		9,963
2,040	e	S&T Bancorp, Inc		59,282
994	e	S.Y. Bancorp, Inc		21,232
1,080	e	Sandy Spring Bancorp, Inc		17,906
501	e	Santander BanCorp		5,316
639		SCBT Financial Corp		18,250
930	e	Seacoast Banking Corp of Florida		7,217
702		Shore Bancshares, Inc		13,141
251	e	Sierra Bancorp		4,142
2,858	*	Signature Bank		73,622
1,157	e	Simmons First National Corp (Class A)		32,361
794		Smithtown Bancorp, Inc		12,903
5,289	e	South Financial Group, Inc		20,733
854		Southside Bancshares, Inc		15,748
763		Southwest Bancorp, Inc		8,774
36,356	e	Sovereign Bancorp, Inc		267,580
1,170		State Bancorp, Inc		14,625
31,991		State Street Corp		2,047,104
1,842		StellarOne Corp		26,893
1,269	e	Sterling Bancorp		15,164
4,840		Sterling Bancshares, Inc		43,996
3,665	e	Sterling Financial Corp		15,173
699	e	Suffolk Bancorp		20,536
926	e*	Sun Bancorp, Inc		9,399
28,876		SunTrust Banks, Inc		1,045,889
6,918	e	Susquehanna Bancshares, Inc		94,707
2,738	e*	SVB Financial Group		131,725
22,507	e	Synovus Financial Corp		196,486
9,794	e	TCF Financial Corp		117,822
1,548	e*	Texas Capital Bancshares, Inc		24,768
7,658	e	TFS Financial Corp		88,756
549	e	Tompkins Trustco, Inc		20,423
1,667		TowneBank		25,105
977	e	Trico Bancshares		10,698

111

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
5,084	e	Trustco Bank Corp NY	$	37,723
4,119	e	Trustmark Corp		72,700
7,219	e	UCBH Holdings, Inc		16,243
2,747		UMB Financial Corp		140,839
4,445	e	Umpqua Holdings Corp		53,918
902	e	Union Bankshares Corp		13,430
4,013		UnionBanCal Corp		162,205
3,754	e	United Bankshares, Inc		86,154
3,900	e	United Community Banks, Inc		33,267
2,248	e	United Community Financial Corp		8,430
1,443		United Financial Bancorp, Inc		16,118
296	e	United Security Bancshares		4,304
793	e	Univest Corp of Pennsylvania		15,749
142,442		US Bancorp		3,972,707
11,288	e	Valley National Bancorp		178,011
820		ViewPoint Financial Group		12,070
7,361	e	W Holding Co, Inc		5,888
175,186		Wachovia Corp		2,720,639
7,609	e	Washington Federal, Inc		137,723
85,945	e	Washington Mutual, Inc		423,709
835	e	Washington Trust Bancorp, Inc		16,449
439	e*	Wauwatosa Holdings, Inc		4,662
4,347		Webster Financial Corp		80,854
270,248		Wells Fargo & Co		6,418,390
2,313	e	WesBanco, Inc		39,668
1,363		West Bancorporation, Inc		11,858
1,165	e	West Coast Bancorp		10,100
3,002	e	Westamerica Bancorporation		157,875
888	e*	Western Alliance Bancorp		6,891
60,700		Western Union Co		1,500,504
1,692	e	Westfield Financial, Inc		15,312
5,938	e	Whitney Holding Corp		108,665
5,524	e	Wilmington Trust Corp		146,054
1,162	e	Wilshire Bancorp, Inc		9,958
1,892		Wintrust Financial Corp		45,124
425		WSFS Financial Corp		18,955
969		Yadkin Valley Financial Corp		11,579
8,805	e	Zions Bancorporation		277,269
		TOTAL DEPOSITORY INSTITUTIONS		65,121,884
EATING AND DRINKING PLACES - 0.86%
2,213	*	AFC Enterprises		17,682
685	e*	BJ's Restaurants, Inc		6,665
3,189	e	Bob Evans Farms, Inc		91,205
8,259		Brinker International, Inc		156,095
1,121	e*	Buffalo Wild Wings, Inc		27,834
6,317		Burger King Holdings, Inc		169,232
2,127	e*	California Pizza Kitchen, Inc		23,801
2,103		CBRL Group, Inc		51,545
2,169	*	CEC Entertainment, Inc		60,754
5,222	e*	Cheesecake Factory		83,082
2,645	*	Chipotle Mexican Grill, Inc (Class A)		218,530
4,601		CKE Restaurants, Inc		57,374
11,193		Darden Restaurants, Inc		357,504

112

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
13,252	e*	Denny's Corp	$	37,636
1,407	e	DineEquity, Inc		52,566
4,642	e*	Domino's Pizza, Inc		53,383
4,542	*	Jack in the Box, Inc		101,786
4,091	e*	Krispy Kreme Doughnuts, Inc		20,414
1,218	e	Landry's Restaurants, Inc		21,887
1,692	*	Luby's, Inc		10,321
92,751		McDonald's Corp		5,214,461
1,468	e	O'Charleys, Inc		14,768
1,562	*	Papa John's International, Inc		41,534
1,800	e*	PF Chang's China Bistro, Inc		40,212
1,322	e*	Red Robin Gourmet Burgers, Inc		36,672
4,035	e	Ruby Tuesday, Inc		21,789
1,290	e*	Ruth's Chris Steak House, Inc		6,682
5,512	e*	Sonic Corp		81,578
59,544	*	Starbucks Corp		937,223
1,868	e*	Steak N Shake Co		11,825
3,274	e*	Texas Roadhouse, Inc (Class A)		29,368
15,475	e	Tim Hortons, Inc		443,978
4,161	e	Triarc Cos (Class B)		26,339
6,605	e	Wendy's International, Inc		179,788
38,924		Yum! Brands, Inc		1,365,843
		TOTAL EATING AND DRINKING PLACES		10,071,356
EDUCATIONAL SERVICES - 0.13%
906	e*	American Public Education, Inc		35,370
11,081	*	Apollo Group, Inc (Class A)		490,445
7,805	e*	Career Education Corp		114,031
7,340	e*	Corinthian Colleges, Inc		85,217
4,924		DeVry, Inc		264,025
3,183	e*	ITT Educational Services, Inc		263,011
497	*	K12, Inc		10,651
714	*	Learning Tree International, Inc		12,210
1,156		Strayer Education, Inc		241,685
2,118	e*	Universal Technical Institute, Inc		26,390
		TOTAL EDUCATIONAL SERVICES		1,543,035
ELECTRIC, GAS, AND SANITARY SERVICES - 4.57%
55,101	*	AES Corp		1,058,490
6,447		AGL Resources, Inc		222,937
13,680		Allegheny Energy, Inc		685,505
2,062	e	Allete, Inc		86,604
9,158		Alliant Energy Corp		313,753
30,094	*	Allied Waste Industries, Inc		379,786
17,280		Ameren Corp		729,734
1,330	e	American Ecology Corp		39,275
32,895		American Electric Power Co, Inc		1,323,366
1,414	e	American States Water Co		49,405
5,179		American Water Works Co, Inc		114,870
10,697		Aqua America, Inc		170,831
30,841	*	Aquila, Inc		116,271
7,397		Atmos Energy Corp		203,935
4,561		Avista Corp		97,879
7,091	*	Beacon Power Corp		14,749

113

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,153		Black Hills Corp	$	101,085
1,868	e	California Water Service Group		61,214
28,429	*	Calpine Corp		641,358
1,535	*	Casella Waste Systems, Inc (Class A)		18,712
26,535		Centerpoint Energy, Inc		425,887
732		Central Vermont Public Service Corp		14,179
1,617	e	CH Energy Group, Inc		57,517
550		Chesapeake Utilities Corp		14,146
1,762	e*	Clean Energy Fuels Corp		20,245
1,671	*	Clean Harbors, Inc		118,741
4,925		Cleco Corp		114,900
18,450	e	CMS Energy Corp		274,905
708		Connecticut Water Service, Inc		15,859
21,875	e	Consolidated Edison, Inc		855,094
1,060	e	Consolidated Water Co, Inc		20,988
14,601		Constellation Energy Group, Inc		1,198,742
9,569	*	Covanta Holding Corp		255,397
3,444	e	Crosstex Energy, Inc		119,369
47,292		Dominion Resources, Inc		2,245,897
9,597	e	DPL, Inc		253,169
13,418		DTE Energy Co		569,460
101,857		Duke Energy Corp		1,770,275
40,544	*	Dynegy, Inc (Class A)		346,651
26,843		Edison International		1,379,193
57,484		El Paso Corp		1,249,702
4,511	*	El Paso Electric Co		89,318
2,823		Empire District Electric Co		52,338
5,960		Energen Corp		465,059
13,002		Energy East Corp		321,409
2,300		EnergySolutions, Inc		51,405
460	e	EnergySouth, Inc		22,568
300	e*	EnerNOC, Inc		5,385
15,671		Entergy Corp		1,888,042
53,721		Exelon Corp		4,832,741
24,941		FirstEnergy Corp		2,053,393
33,274	*	FPL Group, Inc		2,182,109
7,911	e	Great Plains Energy, Inc		199,990
7,258	e	Hawaiian Electric Industries, Inc		179,490
4,219	e	Idacorp, Inc		121,887
6,251	e	Integrys Energy Group, Inc		317,738
3,889		ITC Holdings Corp		198,767
2,156	e	Laclede Group, Inc		87,038
14,634		MDU Resources Group, Inc		510,141
1,810	e	MGE Energy, Inc		59,042
1,112		Middlesex Water Co		18,448
16,958	e*	Mirant Corp		663,906
6,641	e	National Fuel Gas Co		395,007
3,837	e	New Jersey Resources Corp		125,278
3,706	e	Nicor, Inc		157,839
21,355		NiSource, Inc		382,682
12,463		Northeast Utilities		318,180
2,153	e	Northwest Natural Gas Co		99,598
3,402	e	NorthWestern Corp		86,479
19,298	*	NRG Energy, Inc		827,884

114

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
8,938		NSTAR	$	302,283
7,420		OGE Energy Corp		235,288
8,150		Oneok, Inc		397,965
1,400	e	Ormat Technologies, Inc		68,852
2,406	e	Otter Tail Corp		93,425
16,348		Pepco Holdings, Inc		419,326
28,332		PG&E Corp		1,124,497
1,112	e*	Pico Holdings, Inc		48,316
6,597		Piedmont Natural Gas Co, Inc		172,578
1,280	e*	Pike Electric Corp		21,261
7,948		Pinnacle West Capital Corp		244,560
6,544	*	Plug Power, Inc		15,378
5,546		PNM Resources, Inc		66,330
5,123		Portland General Electric Co		115,370
30,529		PPL Corp		1,595,751
21,320		Progress Energy, Inc		891,816
773	m,v*	Progress Energy, Inc		8
41,792		Public Service Enterprise Group, Inc		1,919,507
11,449		Puget Energy, Inc		274,662
14,065		Questar Corp		999,178
27,905	*	Reliant Energy, Inc		593,539
12,675		Republic Services, Inc		376,448
1,550	e	Resource America, Inc (Class A)		14,446
9,796		SCANA Corp		362,452
20,491		Sempra Energy		1,156,717
18,892		Sierra Pacific Resources		240,117
1,222	e	SJW Corp		32,261
2,516	e	South Jersey Industries, Inc		93,998
62,388		Southern Co		2,178,589
8,967	e	Southern Union Co		242,288
3,550		Southwest Gas Corp		105,542
1,337	e	Southwest Water Co		13,397
7,048	*	Stericycle, Inc		364,381
16,725	e	TECO Energy, Inc		359,420
8,836		UGI Corp		253,682
2,755	e	UIL Holdings Corp		81,025
3,245		Unisource Energy Corp		100,627
6,181	e	Vectren Corp		192,909
6,048	*	Waste Connections, Inc		193,113
1,264	*	Waste Services, Inc		8,898
8,594		Westar Energy, Inc		184,857
3,922		WGL Holdings, Inc		136,250
47,820		Williams Cos, Inc		1,927,624
9,633		Wisconsin Energy Corp		435,604
35,477		Xcel Energy, Inc		712,023
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		53,829,794
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.40%
1,190	e*	Acme Packet, Inc		9,234
2,034	*	Actel Corp		34,273
3,364	e	Acuity Brands, Inc		161,741
7,913	*	Adaptec, Inc		25,322
9,483	*	ADC Telecommunications, Inc		140,064
4,569		Adtran, Inc		108,925

115

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,179	*	Advanced Analogic Technologies, Inc	$	25,519
3,397	*	Advanced Battery Technologies, Inc		19,601
3,940	*	Advanced Energy Industries, Inc		53,978
49,111	e*	Advanced Micro Devices, Inc		286,317
24,520		Altera Corp		507,564
3,424	e*	American Superconductor Corp		122,750
8,596		Ametek, Inc		405,903
8,958	e*	Amkor Technology, Inc		93,253
14,361		Amphenol Corp (Class A)		644,522
5,432	e*	Anadigics, Inc		53,505
23,747		Analog Devices, Inc		754,442
72,144	*	Apple Computer, Inc		12,079,791
6,957	*	Applied Micro Circuits Corp		59,552
1,039		Applied Signal Technology, Inc		14,193
11,126	*	Arris Group, Inc		94,015
4,962	e*	Atheros Communications, Inc		148,860
37,726	*	Atmel Corp		131,286
2,319	*	ATMI, Inc		64,746
21,071	e*	Avanex Corp		23,810
12,258	*	Avnet, Inc		334,398
3,267	e	AVX Corp		36,950
860	e*	AZZ, Inc		34,314
3,879	e	Baldor Electric Co		135,687
831	e	Bel Fuse, Inc (Class B)		20,534
5,858	*	Benchmark Electronics, Inc		95,720
929	e*	BigBand Networks, Inc		4,394
8,171	*	Bookham, Inc		13,809
41,839	*	Broadcom Corp (Class A)		1,141,786
11,816	*	Capstone Turbine Corp		49,509
2,398	e*	Ceradyne, Inc		82,251
1,682	*	Ceva, Inc		13,406
3,547	*	Checkpoint Systems, Inc		74,061
2,567	*	China BAK Battery, Inc		12,091
2,240	*	China Security & Surveillance Technology, Inc		30,195
6,915	e*	Ciena Corp		160,221
483,835	*	Cisco Systems, Inc		11,254,002
1,987	e*	Comtech Telecommunications Corp		97,363
14,226		Cooper Industries Ltd (Class A)		561,927
7,476	e*	Cree, Inc		170,528
2,860		CTS Corp		28,743
1,286		Cubic Corp		28,652
12,303	e*	Cypress Semiconductor Corp		304,499
2,008	e*	Diodes, Inc		55,501
4,129	*	Dolby Laboratories, Inc (Class A)		166,399
2,395	*	DSP Group, Inc		16,765
1,298	e*	DTS, Inc		40,653
13,240		Eaton Corp		1,125,003
3,172	e*	EchoStar Corp (Class A)		99,030
2,090	*	Electro Scientific Industries, Inc		29,615
6,001	*	Emcore Corp		37,566
1,000	*	EMS Technologies, Inc		21,840
4,658	*	Energizer Holdings, Inc		340,453
3,347	*	Energy Conversion Devices, Inc		246,473
2,652	*	EnerSys		90,778

116

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
9,213	e*	Evergreen Solar, Inc	$	89,274
2,144	e*	Exar Corp		16,166
9,427	*	Fairchild Semiconductor International, Inc		110,579
21,254	e*	Finisar Corp		25,292
3,624	*	First Solar, Inc		988,700
1,869	e	Franklin Electric Co, Inc		72,480
8,256	e*	FuelCell Energy, Inc		58,618
1,636	*	Globecomm Systems, Inc		13,513
8,451	*	GrafTech International Ltd		226,740
1,267	e*	Greatbatch, Inc		21,919
4,995	e	Harman International Industries, Inc		206,743
8,009	*	Harmonic, Inc		76,166
10,823		Harris Corp		546,453
1,609	e*	Harris Stratex Networks, Inc (Class A)		15,269
2,217	*	Helen of Troy Ltd		35,738
7,873	e*	Hexcel Corp		151,949
1,607	*	Hittite Microwave Corp		57,241
60,675		Honeywell International, Inc		3,050,739
2,449	e*	Hutchinson Technology, Inc		32,915
2,318	e	Imation Corp		53,129
7,637	e*	Infinera Corp		67,358
14,288	*	Integrated Device Technology, Inc		142,023
468,745		Intel Corp		10,068,643
3,553	e*	InterDigital, Inc		86,409
5,812	*	International Rectifier Corp		111,590
10,150		Intersil Corp (Class A)		246,848
2,611	*	InterVoice, Inc		14,883
1,563	e*	IPG Photonics Corp		29,400
1,870	e*	iRobot Corp		25,694
1,213	*	IXYS Corp		14,483
5,621	e*	Jarden Corp		102,527
18,424	e*	JDS Uniphase Corp		209,297
6,433	e*	Kemet Corp		20,843
10,043		L-3 Communications Holdings, Inc		912,607
7,232	e*	Lattice Semiconductor Corp		22,636
3,547		Lincoln Electric Holdings, Inc		279,149
18,030	e	Linear Technology Corp		587,237
1,486	*	Littelfuse, Inc		46,883
765	*	Loral Space & Communications, Inc		13,479
1,191		LSI Industries, Inc		9,671
52,374	*	LSI Logic Corp		321,576
39,691	*	Marvell Technology Group Ltd		700,943
3,972	*	Mattson Technology, Inc		18,907
1,520	*	Maxwell Technologies, Inc		16,142
4,190	e*	Medis Technologies Ltd		14,120
18,678	*	MEMC Electronic Materials, Inc		1,149,444
1,417	e*	Mercury Computer Systems, Inc		10,670
3,008		Methode Electronics, Inc		31,434
4,803	e	Micrel, Inc		43,947
15,120	e	Microchip Technology, Inc		461,765
61,739	*	Micron Technology, Inc		370,434
6,422	e*	Microsemi Corp		161,706
3,670	*	Microtune, Inc		12,698
4,498	*	Microvision, Inc		12,370

117

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,813	*	MIPS Technologies, Inc	$	14,299
10,791	e	Molex, Inc		263,408
2,603	*	Monolithic Power Systems, Inc		56,277
3,486	*	Moog, Inc (Class A)		129,819
184,515		Motorola, Inc		1,354,340
15,196	e*	MRV Communications, Inc		18,083
683	e*	Multi-Fineline Electronix, Inc		18,899
309	e	National Presto Industries, Inc		19,832
19,838		National Semiconductor Corp		407,473
27,750	*	NetApp, Inc		601,065
1,926	e*	Netlogic Microsystems, Inc		63,943
8,230	e*	Novellus Systems, Inc		174,394
362	*	NVE Corp		11,461
44,644	*	Nvidia Corp		835,736
4,385	e*	Omnivision Technologies, Inc		53,015
31,519	e*	ON Semiconductor Corp		289,029
1,582	e*	Oplink Communications, Inc		15,187
1,500	e*	OpNext, Inc		8,070
4,180	*	Optium Corp		30,430
922	e*	OSI Systems, Inc		19,749
2,116		Park Electrochemical Corp		51,440
1,903	*	Parkervision, Inc		18,897
2,505	*	Pericom Semiconductor Corp		37,174
3,034	*	Photronics, Inc		21,359
3,981		Plantronics, Inc		88,856
3,964	*	Plexus Corp		109,724
3,407	e*	PLX Technology, Inc		25,995
17,935	e*	PMC - Sierra, Inc		137,203
7,751	*	Polycom, Inc		188,814
1,790	*	Polypore International, Inc		45,341
610	*	Powell Industries, Inc		30,750
2,470	*	Power Integrations, Inc		78,077
4,862	e*	Power-One, Inc		9,189
11,780	e*	Powerwave Technologies, Inc		50,065
11,719	*	QLogic Corp		170,980
132,535		Qualcomm, Inc		5,880,578
5,915	*	Quantum Fuel Systems Technologies Worldwide, Inc		18,218
10,453		RadioShack Corp		128,258
1,568	*	Radyne Corp		17,922
8,573	e*	Rambus, Inc		163,487
1,106	e	Raven Industries, Inc		36,255
2,673		Regal-Beloit Corp		112,934
22,806	e*	RF Micro Devices, Inc		66,137
1,214	*	Rogers Corp		45,634
1,060	e*	Rubicon Technology, Inc		21,539
40,403	*	Sanmina-SCI Corp		51,716
2,218	e*	Seachange International, Inc		15,881
5,307	*	Semtech Corp		74,669
3,562	*	ShoreTel, Inc		15,744
8,311	e*	Silicon Image, Inc		60,255
3,931	*	Silicon Laboratories, Inc		141,870
6,899	*	Silicon Storage Technology, Inc		19,110
122,994	e*	Sirius Satellite Radio, Inc		236,148
13,334	e*	Skyworks Solutions, Inc		131,607

118

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,650	e*	Smart Modular Technologies WWH, Inc	$	13,980
10,720	e*	Spansion, Inc (Class A)		24,120
4,136	e*	Spectrum Brands, Inc		10,547
1,620	e*	Standard Microsystems Corp		43,983
2,452	e*	Starent Networks Corp		30,846
1,067	*	Stoneridge, Inc		18,203
3,292	e*	Sunpower Corp (Class A)		236,958
885	e*	Supertex, Inc		20,656
15,712	*	Sycamore Networks, Inc		50,593
3,492	e*	Symmetricom, Inc		13,409
1,882	e*	Synaptics, Inc		71,008
1,629	*	Synthesis Energy Systems, Inc		14,661
3,340		Technitrol, Inc		56,747
1,290	e*	Techwell, Inc		15,893
5,350	e*	Tekelec		78,699
3,145		Teleflex, Inc		174,831
32,326	e*	Tellabs, Inc		150,316
3,886	*	Tessera Technologies, Inc		63,614
107,542		Texas Instruments, Inc		3,028,383
4,686	*	Thomas & Betts Corp		177,365
1,005	*	Transmeta Corp		13,879
4,543	*	Trident Microsystems, Inc		16,582
11,767	*	Triquint Semiconductor, Inc		71,308
3,103	*	TTM Technologies, Inc		40,991
39,116		Tyco Electronics Ltd		1,401,135
1,387	*	Ultra Clean Holdings		11,041
1,032	*	Ultralife Corp		11,032
1,534	e*	Universal Display Corp		18,899
1,021	e*	Universal Electronics, Inc		21,339
4,888	*	US Geothermal, Inc		14,371
10,172	e*	Utstarcom, Inc		55,641
4,178	*	Valence Technology, Inc		18,509
6,088	*	Varian Semiconductor Equipment Associates, Inc		211,984
2,072	*	Viasat, Inc		41,875
1,042	e	Vicor Corp		10,399
14,865	*	Vishay Intertechnology, Inc		131,853
2,071	e*	Volterra Semiconductor Corp		35,745
6,148	e	Whirlpool Corp		379,516
22,865		Xilinx, Inc		577,341
2,235	e*	Zoltek Cos, Inc		54,199
4,035	*	Zoran Corp		47,209
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		75,371,716
ENGINEERING AND MANAGEMENT SERVICES - 1.07%
2,256	*	Accelrys, Inc		10,896
1,637	*	Advisory Board Co		64,383
8,284	*	Aecom Technology Corp		269,479
833	*	Affymax, Inc		13,253
6,305	*	Applera Corp (Celera Genomics Group)		71,625
11,233	e*	Amylin Pharmaceuticals, Inc		285,206
5,437	e*	Ariad Pharmaceuticals, Inc		13,049
811	e	CDI Corp		20,632
35,669	*	Celgene Corp		2,278,179
1,508	*	China Architectural Engineering, Inc		14,733

119

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,477	e*	comScore, Inc	$	32,228
793	e*	Cornell Cos, Inc		19,119
3,019		Corporate Executive Board Co		126,949
1,065	e*	CRA International, Inc		38,500
4,501	*	CV Therapeutics, Inc		37,043
4,608	*	Dyax Corp		14,285
3,591	*	eResearch Technology, Inc		62,627
7,070	*	Exelixis, Inc		35,350
1,038	*	Exponent, Inc		32,604
7,231		Fluor Corp		1,345,544
2,933	*	Furmanite Corp		23,405
4,980	*	Genpact Ltd		74,302
4,410	*	Gen-Probe, Inc		209,387
1,576	*	Greenfield Online, Inc		23,514
7,859	*	Hewitt Associates, Inc (Class A)		301,235
1,944	*	Hill International, Inc		31,959
1,583	e*	Huron Consulting Group, Inc		71,773
7,232	e*	Incyte Corp		55,036
7,363	e*	Isis Pharmaceuticals, Inc		100,358
9,877	*	Jacobs Engineering Group, Inc		797,074
13,726		KBR, Inc		479,175
833	*	Kendle International, Inc		30,263
1,072	e	Landauer, Inc		60,289
1,618	*	LECG Corp		14,141
6,864	*	Lexicon Pharmaceuticals, Inc		10,982
3,005	e*	Luminex Corp		61,753
1,528		MAXIMUS, Inc		53,205
1,732	e*	Maxygen, Inc		5,871
18,511	*	McDermott International, Inc		1,145,646
528	*	Michael Baker Corp		11,553
16,133	e	Moody's Corp		555,621
3,641	e*	Myriad Genetics, Inc		165,738
4,194	e*	Navigant Consulting, Inc		82,035
3,287	*	Omnicell, Inc		43,323
26,471		Paychex, Inc		828,013
1,251	*	PharmaNet Development Group, Inc		19,728
1,239	*	PRG-Schultz International, Inc		11,659
12,776	e	Quest Diagnostics, Inc		619,253
4,562	*	Regeneron Pharmaceuticals, Inc		65,875
20,344	e*	Rentech, Inc		38,654
2,465	*	Repligen Corp		11,635
3,290		Resources Connection, Inc		66,952
3,194	*	Rigel Pharmaceuticals, Inc		72,376
4,398	*	RTI Biologics, Inc		38,483
15,095	*	SAIC, Inc		314,127
2,949	*	Sangamo Biosciences, Inc		29,343
4,958	e*	Savient Pharmaceuticals, Inc		125,437
4,995	e*	Seattle Genetics, Inc		42,258
3,705	*	Sequenom, Inc		59,132
6,678	*	Shaw Group, Inc		412,634
820	*	Stanley, Inc		27,486
1,965	e*	Symyx Technologies, Inc		13,716
1,084	e*	Tejon Ranch Co		39,089
4,560	*	Tetra Tech, Inc		103,147

120

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
6,820	*	URS Corp	$	286,235
3,388		Watson Wyatt & Co Holdings (Class A)		179,191
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		12,597,745
FABRICATED METAL PRODUCTS - 0.56%
2,696	e*	Alliant Techsystems, Inc		274,129
791	e	Ameron International Corp		94,904
5,733		Aptargroup, Inc		240,499
7,990		Ball Corp		381,443
2,324	*	Chart Industries, Inc		113,039
1,254	e	CIRCOR International, Inc		61,433
9,223		Commercial Metals Co		347,707
3,301	e*	Commercial Vehicle Group, Inc		30,864
4,354		Crane Co		167,760
13,396	*	Crown Holdings, Inc		348,162
1,300	e	Dynamic Materials Corp		42,835
2,117	e*	Griffon Corp		18,545
1,051		Gulf Island Fabrication, Inc		51,425
38,147		Illinois Tool Works, Inc		1,812,364
1,657		Insteel Industries, Inc		30,340
1,505	*	Ladish Co, Inc		30,988
3,177	e*	Mobile Mini, Inc		63,540
10,732	e	Mueller Water Products, Inc (Class A)		86,607
1,525	e*	NCI Building Systems, Inc		56,013
13,722		Parker Hannifin Corp		978,653
605	*	Park-Ohio Holdings Corp		8,930
7,860	e	Pentair, Inc		275,257
3,181		Quanex Building Products Corp		47,270
2,323		Silgan Holdings, Inc		117,869
3,558	e	Simpson Manufacturing Co, Inc		84,467
3,369	e*	Smith & Wesson Holding Corp		17,553
4,749		Snap-On, Inc		246,997
6,416		Stanley Works		287,629
815	e	Sun Hydraulics Corp		26,300
5,486	e*	Taser International, Inc		27,375
1,524	e	Valmont Industries, Inc		158,938
2,268	e	Watts Water Technologies, Inc (Class A)		56,473
		TOTAL FABRICATED METAL PRODUCTS		6,586,308
FOOD AND KINDRED PRODUCTS - 3.53%
1,640	*	AgFeed Industries, Inc		24,551
58,212		Anheuser-Busch Cos, Inc		3,616,129
52,679		Archer Daniels Midland Co		1,777,916
1,626		B&G Foods, Inc (Class A)		15,187
717	e*	Boston Beer Co, Inc (Class A)		29,168
9,873		Bunge Ltd		1,063,223
17,844		Campbell Soup Co		597,060
336	e	Coca-Cola Bottling Co Consolidated		12,425
189,986		Coca-Cola Co		9,875,472
25,467		Coca-Cola Enterprises, Inc		440,579
40,232		ConAgra Foods, Inc		775,673
14,858	*	Constellation Brands, Inc (Class A)		295,080
6,095		Corn Products International, Inc		299,325
7,498	*	Darling International, Inc		123,867

121

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
15,422		Del Monte Foods Co	$	109,496
1,310		Diamond Foods, Inc		30,182
20,600	*	Dr Pepper Snapple Group, Inc		432,188
590	e	Farmer Bros Co		12,479
6,492		Flowers Foods, Inc		183,983
27,222		General Mills, Inc		1,654,281
25,797		H.J. Heinz Co		1,234,386
5,854	e*	Hansen Natural Corp		168,712
12,573	e	Hershey Co		412,143
5,891		Hormel Foods Corp		203,888
773	e	Imperial Sugar Co		12,005
1,061		J&J Snack Foods Corp		29,082
4,724		J.M. Smucker Co		191,983
20,319		Kellogg Co		975,718
124,060		Kraft Foods, Inc (Class A)		3,529,507
1,831	e	Lancaster Colony Corp		55,443
2,200	e	Lance, Inc		41,294
880	e*	M&F Worldwide Corp		34,593
9,341		McCormick & Co, Inc		333,100
9,334		Molson Coors Brewing Co (Class B)		507,116
280		National Beverage Corp		2,036
1,517	*	Omega Protein Corp		22,679
760	e*	Peet's Coffee & Tea, Inc		15,063
930		Penford Corp		13,839
11,217		Pepsi Bottling Group, Inc		313,179
4,740		PepsiAmericas, Inc		93,757
129,983		PepsiCo, Inc		8,265,619
2,374	e*	Ralcorp Holdings, Inc		117,371
1,307	e	Reddy Ice Holdings, Inc		17,880
13,852		Reynolds American, Inc		646,473
1,650	e	Sanderson Farms, Inc		56,958
57,772		Sara Lee Corp		707,707
5,165	*	Smart Balance, Inc		37,240
9,297	e*	Smithfield Foods, Inc		184,824
3,089	e	Tootsie Roll Industries, Inc		77,627
2,537	*	TreeHouse Foods, Inc		61,548
22,329		Tyson Foods, Inc (Class A)		333,595
19,483		Wrigley (Wm.) Jr Co		1,515,388
		TOTAL FOOD AND KINDRED PRODUCTS		41,580,017
FOOD STORES - 0.33%
105	e	Arden Group, Inc (Class A)		13,308
2,503	*	Great Atlantic & Pacific Tea Co, Inc		57,118
1,053	e	Ingles Markets, Inc (Class A)		24,566
54,359		Kroger Co		1,569,344
2,089	e*	Panera Bread Co (Class A)		96,637
1,523	e*	Pantry, Inc		16,235
3,413		Ruddick Corp		117,100
35,568		Safeway, Inc		1,015,466
16,939	*	Supervalu, Inc		523,246
250		Village Super Market (Class A)		9,645
1,576		Weis Markets, Inc		51,173
11,340	e	Whole Foods Market, Inc		268,645

122

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,390	*	Winn-Dixie Stores, Inc	$	70,328
		TOTAL FOOD STORES		3,832,811
FORESTRY - 0.10%
6,377		Rayonier, Inc		270,767
17,296		Weyerhaeuser Co		884,518
		TOTAL FORESTRY		1,155,285
FURNITURE AND FIXTURES - 0.23%
2,218	e	Ethan Allen Interiors, Inc		54,563
4,524	e	Furniture Brands International, Inc		60,441
4,756	e	Herman Miller, Inc		118,377
5,475	e	Hill-Rom Holdings, Inc		147,714
3,718		HNI Corp		65,660
472	e	Hooker Furniture Corp		8,175
3,905		Interface, Inc (Class A)		48,930
48,441		Johnson Controls, Inc		1,389,288
1,541	e	Kimball International, Inc (Class B)		12,759
5,218	e	La-Z-Boy, Inc		39,918
13,454	e	Leggett & Platt, Inc		225,624
29,615		Masco Corp		465,844
3,423	e	Sealy Corp		19,648
6,929	e	Tempur-Pedic International, Inc		54,115
		TOTAL FURNITURE AND FIXTURES		2,711,056
FURNITURE AND HOME FURNISHINGS STORES - 0.15%
20,997	e*	Bed Bath & Beyond, Inc		590,016
16,564	e	Circuit City Stores, Inc		47,870
13,118	*	GameStop Corp (Class A)		529,967
1,389	e	Haverty Furniture Cos, Inc		13,945
1,025	*	hhgregg, Inc		10,250
3,714		Knoll, Inc		45,125
4,429	e*	Mohawk Industries, Inc		283,899
9,172	e*	Pier 1 Imports, Inc		31,552
6,161	e	Steelcase, Inc (Class A)		61,795
1,646		Tuesday Morning Corp		6,765
7,585	e	Williams-Sonoma, Inc		150,486
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		1,771,670
GENERAL BUILDING CONTRACTORS - 0.19%
200	e	Amrep Corp		9,518
788	e*	Avatar Holdings, Inc		23,868
5,590	e	Beazer Homes USA, Inc		31,136
1,171	e	Brookfield Homes Corp		14,380
519	*	Cavco Industries, Inc		16,987
10,120		Centex Corp		135,304
25,314	e	DR Horton, Inc		274,657
5,360	e*	Hovnanian Enterprises, Inc (Class A)		29,373
6,413	e	KB Home		108,572
11,099	e	Lennar Corp (Class A)		136,962
1,170	e	M/I Homes, Inc		18,404
2,384		McGrath RentCorp		58,623
2,585	e	MDC Holdings, Inc		100,970
3,299	e*	Meritage Homes Corp		50,046
322	e*	NVR, Inc		161,026

123

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
984	e*	Palm Harbor Homes, Inc	$	5,441
2,491	e*	Perini Corp		82,328
17,229	e	Pulte Homes, Inc		165,915
3,725		Ryland Group, Inc		81,242
7,641	e	Standard-Pacific Corp		25,827
1,518	e*	Team, Inc		52,098
10,450	e*	Toll Brothers, Inc		195,728
4,238		Walter Industries, Inc		460,967
		TOTAL GENERAL BUILDING CONTRACTORS		2,239,372
GENERAL MERCHANDISE STORES - 1.63%
5,099	e*	99 Cents Only Stores		33,653
6,684	e*	Big Lots, Inc		208,808
4,921	e*	BJ's Wholesale Club, Inc		190,443
4,078		Casey's General Stores, Inc		94,487
1,678	e*	Conn's, Inc		26,965
35,453		Costco Wholesale Corp		2,486,673
4,799	e	Dillard's, Inc (Class A)		55,524
10,966		Family Dollar Stores, Inc		218,662
2,660	e	Fred's, Inc		29,899
17,979		JC Penney Co, Inc		652,458
34,478		Macy's, Inc		669,563
3,983	e*	Retail Ventures, Inc		18,322
11,302	e*	Saks, Inc		124,096
1,431	e	Stein Mart, Inc		6,454
64,540		Target Corp		3,000,465
34,768		TJX Cos, Inc		1,094,149
183,610		Wal-Mart Stores, Inc		10,318,882
		TOTAL GENERAL MERCHANDISE STORES		19,229,503
HEALTH SERVICES - 1.14%
1,564	*	Alliance Imaging, Inc		13,560
520	*	Almost Family, Inc		13,832
2,327	*	Amedisys, Inc		117,327
13,321		AmerisourceBergen Corp		532,707
2,963	*	Amsurg Corp		72,149
3,983	*	Apria Healthcare Group, Inc		77,230
4,413	*	Assisted Living Concepts, Inc (A Shares)		24,272
839	e*	Bio-Reference Labs, Inc		18,718
2,989	e	Brookdale Senior Living, Inc		60,856
23,212		Cigna Corp		821,473
7,827	*	Community Health Systems, Inc		258,134
498	*	Corvel Corp		16,867
5,150	*	Covance, Inc		443,003
12,584	*	Coventry Health Care, Inc		382,805
2,028	e*	Cross Country Healthcare, Inc		29,223
1,679	e*	CryoLife, Inc		19,208
8,572	*	DaVita, Inc		455,430
4,668	*	Edwards Lifesciences Corp		289,603
2,015	e*	eHealth, Inc		35,585
1,620	e*	Emeritus Corp		23,684
1,710	*	Enzo Biochem, Inc		19,186
17,215	*	Express Scripts, Inc		1,079,725
2,564	*	Five Star Quality Care, Inc		12,128

124

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,154	e*	Genomic Health, Inc	$	22,099
400	*	Genoptix, Inc		12,620
3,149	e*	Gentiva Health Services, Inc		59,988
20,827	e*	Health Management Associates, Inc (Class A)		135,584
6,590	*	Healthsouth Corp		109,592
2,689	e*	Healthways, Inc		79,594
15,671	e*	Immunomedics, Inc		33,379
2,207	*	Kindred Healthcare, Inc		63,473
9,105	*	Laboratory Corp of America Holdings		633,981
1,568	*	LHC Group, Inc		36,456
723	*	Life Sciences Research, Inc		20,418
4,530	e*	LifePoint Hospitals, Inc		128,199
6,009	*	Lincare Holdings, Inc		170,656
3,222	*	Magellan Health Services, Inc		119,311
22,692		McKesson Corp		1,268,710
1,465	*	Medcath Corp		26,341
41,463	*	Medco Health Solutions, Inc		1,957,054
692	e	National Healthcare Corp		31,714
9,367	e*	Nektar Therapeutics		31,379
1,558	e*	Nighthawk Radiology Holdings, Inc		11,031
2,530	*	Odyssey HealthCare, Inc		24,642
8,711	e	Omnicare, Inc		228,402
4,063	*	Pediatrix Medical Group, Inc		200,021
8,725		Pharmaceutical Product Development, Inc		374,303
4,494	e*	Psychiatric Solutions, Inc		170,053
1,135	*	RehabCare Group, Inc		18,194
1,633	e*	Skilled Healthcare Group, Inc (Class A)		21,915
2,010	e*	Stereotaxis, Inc		10,774
3,260	*	Sun Healthcare Group, Inc		43,652
3,447	e*	Sunrise Senior Living, Inc		77,489
40,106	e*	Tenet Healthcare Corp		222,989
3,706		Universal Health Services, Inc (Class B)		234,293
959	*	US Physical Therapy, Inc		15,737
43,048	*	WellPoint, Inc		2,051,668
		TOTAL HEALTH SERVICES		13,462,416
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.09%
990	e*	Comverge, Inc		13,840
11,794	*	Foster Wheeler Ltd		862,731
2,564	e	Granite Construction, Inc		80,843
3,510	e	Great Lakes Dredge & Dock Corp		21,446
2,299	*	Matrix Service Co		53,015
1,775	*	Orion Marine Group, Inc		25,081
959	*	Sterling Construction Co, Inc		19,046
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		1,076,002
HOLDING AND OTHER INVESTMENT OFFICES - 3.10%
3,304	e	Acadia Realty Trust		76,488
3,354	*	Affiliated Managers Group, Inc		302,061
783	e	Agree Realty Corp		17,265
209	e*	Alexander's, Inc		64,915
2,566		Alexandria Real Estate Equities, Inc		249,774
13,388	e	Allied Capital Corp		185,959
8,028		AMB Property Corp		404,451

125

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,689	*	American Apparel, Inc	$	17,882
3,260		American Campus Communities, Inc		90,779
793		American Capital Agency Corp		13,196
43,931		Annaly Mortgage Management, Inc		681,370
7,625	e	Anthracite Capital, Inc		53,680
6,317		Anworth Mortgage Asset Corp		41,124
7,476	e	Apartment Investment & Management Co (Class A)		254,633
11,634	e	Apollo Investment Corp		166,715
2,143	e	Arbor Realty Trust, Inc		19,223
9,778	e	Ashford Hospitality Trust, Inc		45,174
1,112		Associated Estates Realty Corp		11,910
6,303	e	AvalonBay Communities, Inc		561,975
5,567	e	BioMed Realty Trust, Inc		136,559
9,589	e	Boston Properties, Inc		865,120
7,149		Brandywine Realty Trust		112,668
4,281	e	BRE Properties, Inc (Class A)		185,282
4,341	e	Camden Property Trust		192,133
3,652	e	Capital Lease Funding, Inc		27,353
190	e	Capital Southwest Corp		19,804
2,273	e	Capital Trust, Inc (Class A)		43,664
4,370		Capstead Mortgage Corp		47,415
1,102		Care Investment Trust, Inc		10,392
5,417	e	CBL & Associates Properties, Inc		123,724
4,677		Cedar Shopping Centers, Inc		54,814
484	e	Cherokee, Inc		9,753
3,498	e	Colonial Properties Trust		70,030
3,280		Corporate Office Properties Trust		112,602
3,808		Cousins Properties, Inc		87,965
1,507		Danvers Bancorp, Inc		16,577
14,062	e	DCT Industrial Trust, Inc		116,433
9,984	e	Developers Diversified Realty Corp		346,545
7,774		DiamondRock Hospitality Co		84,659
5,416	e	Digital Realty Trust, Inc		221,569
9,933		Douglas Emmett, Inc		218,228
11,772		Duke Realty Corp		264,281
2,183	e	EastGroup Properties, Inc		93,651
1,434		Education Realty Trust, Inc		16,706
2,515	e	Entertainment Properties Trust		124,342
1,768	e	Equity Lifestyle Properties, Inc		77,792
2,960	e	Equity One, Inc		60,828
22,043		Equity Residential		843,586
2,054	e	Essex Property Trust, Inc		218,751
6,492	e	Extra Space Storage, Inc		99,717
4,880		Federal Realty Investment Trust		336,720
4,582		FelCor Lodging Trust, Inc		48,111
3,613	e	First Industrial Realty Trust, Inc		99,249
1,992	e	First Potomac Realty Trust		30,358
4,433	e	Franklin Street Properties Corp		56,033
13,411	e	Friedman Billings Ramsey Group, Inc (Class A)		20,117
18,552	e	General Growth Properties, Inc		649,877
1,384	e	Getty Realty Corp		19,943
1,731	e	Gladstone Capital Corp		26,380
1,812		Gladstone Investment Corp		11,651
4,326	e	Glimcher Realty Trust		48,365

126

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,363		Gramercy Capital Corp	$	38,977
1,908	*	Harris & Harris Group, Inc		11,448
946		Hatteras Financial Corp		21,749
18,776	e	HCP, Inc		597,265
7,113		Health Care REIT, Inc		316,529
4,064	e	Healthcare Realty Trust, Inc		96,601
4,843		Hersha Hospitality Trust		36,565
4,678		Highwoods Properties, Inc		146,983
4,346	e*	Hilltop Holdings, Inc		44,807
2,758		Home Properties, Inc		132,549
7,761		Hospitality Properties Trust		189,834
41,853		Host Marriott Corp		571,293
18,206		HRPT Properties Trust		123,255
5,374	e	Inland Real Estate Corp		77,493
4,674		Investors Real Estate Trust		44,590
168,300	e	iShares Russell 3000 Index Fund		12,605,670
11,335	e	iStar Financial, Inc		149,735
3,424	e	JER Investors Trust, Inc		21,571
2,688	e	Kilroy Realty Corp		126,417
17,383	e	Kimco Realty Corp		600,061
2,360		Kite Realty Group Trust		29,500
2,948	e	LaSalle Hotel Properties		74,083
4,865	e	Lexington Corporate Properties Trust		66,310
7,376	e	Liberty Property Trust		244,514
1,903		LTC Properties, Inc		48,641
5,944		Macerich Co		369,301
5,231		Mack-Cali Realty Corp		178,743
4,268	e	Maguire Properties, Inc		51,942
6,395	e	Medical Properties Trust, Inc		64,717
4,180	*	Meruelo Maddux Properties, Inc		9,112
12,422		MFA Mortgage Investments, Inc		80,991
2,242		Mid-America Apartment Communities, Inc		114,432
1,462	e	Mission West Properties, Inc		16,024
2,017		MVC Capital, Inc		27,613
1,805		National Health Investors, Inc		51,460
6,337		National Retail Properties, Inc		132,443
7,697		Nationwide Health Properties, Inc		242,378
4,618	e	Newcastle Investment Corp		32,372
5,372	e	NorthStar Realty Finance Corp		44,695
5,632		Omega Healthcare Investors, Inc		93,773
626		One Liberty Properties, Inc		10,210
1,053		Parkway Properties, Inc		35,518
1,437	e	PennantPark Investment Corp		10,361
2,893	e	Pennsylvania Real Estate Investment Trust		66,944
14,005	e	Plum Creek Timber Co, Inc		598,153
3,291	e	Post Properties, Inc		97,907
3,023	e	Potlatch Corp		136,398
20,941		Prologis		1,138,143
1,446	e	Prospect Capital Corp		19,058
1,279		PS Business Parks, Inc		65,996
10,222		Public Storage, Inc		825,835
6,897	e	RAIT Investment Trust		51,176
1,853		Ramco-Gershenson Properties		38,061
7,952	e	Realty Income Corp		180,987

127

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,587		Redwood Trust, Inc	$	58,958
5,566		Regency Centers Corp		329,062
2,220	e	Resource Capital Corp		16,006
1,224		Saul Centers, Inc		57,516
7,767		Senior Housing Properties Trust		151,690
18,235		Simon Property Group, Inc		1,639,144
4,838		SL Green Realty Corp		400,199
1,893		Sovran Self Storage, Inc		78,673
6,370	e	Strategic Hotels & Resorts, Inc		59,687
1,120	e	Sun Communities, Inc		20,417
4,955		Sunstone Hotel Investors, Inc		82,253
2,345	e	Tanger Factory Outlet Centers, Inc		84,256
4,320	e	Taubman Centers, Inc		210,168
10,437		UDR, Inc		233,580
1,002	e	Universal Health Realty Income Trust		30,060
1,403	e	Urstadt Biddle Properties, Inc (Class A)		20,568
4,028	e	U-Store-It Trust		48,134
10,619		Ventas, Inc		452,051
23,519		Virgin Media, Inc		320,094
11,076		Vornado Realty Trust		974,688
5,361		WABCO Holdings, Inc		249,072
3,821	e	Washington Real Estate Investment Trust		114,821
6,201	e	Weingarten Realty Investors		188,014
2,750		Winthrop Realty Trust		9,900
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		36,538,515
HOTELS AND OTHER LODGING PLACES - 0.28%
1,830	e	Ameristar Casinos, Inc		25,291
5,191	e*	Bluegreen Corp		31,405
4,639	e	Boyd Gaming Corp		58,266
2,890	e	Choice Hotels International, Inc		76,585
3,556	e*	Gaylord Entertainment Co		85,202
3,859	e*	Great Wolf Resorts, Inc		16,864
2,506	e*	Isle of Capri Casinos, Inc		12,004
8,416	e*	Las Vegas Sands Corp		399,255
1,580	*	Lodgian, Inc		12,371
1,423		Marcus Corp		21,274
24,570		Marriott International, Inc (Class A)		644,717
9,719	e*	MGM Mirage		329,377
610	e*	Monarch Casino & Resort, Inc		7,198
2,408	e*	Morgans Hotel Group Co		24,802
3,851	e	Orient-Express Hotels Ltd (Class A)		167,287
1,237	e*	Riviera Holdings Corp		12,555
15,352		Starwood Hotels & Resorts Worldwide, Inc		615,155
2,726	e*	Vail Resorts, Inc		116,755
14,159		Wyndham Worldwide Corp		253,588
4,890	e	Wynn Resorts Ltd		397,801
		TOTAL HOTELS AND OTHER LODGING PLACES		3,307,752
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.70%
2,175	*	3PAR, Inc		17,052
786	e	Aaon, Inc		15,138
4,348	e	Actuant Corp (Class A)		136,310
7,634	*	AGCO Corp		400,098

128

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
511		Alamo Group, Inc	$	10,521
2,626	e	Albany International Corp (Class A)		76,154
3,000	e*	Allis-Chalmers Energy, Inc		53,400
1,860	*	Altra Holdings, Inc		31,267
496		Ampco-Pittsburgh Corp		22,062
110,741		Applied Materials, Inc		2,114,046
1,755	e*	Astec Industries, Inc		56,406
6,675	*	Asyst Technologies, Inc		23,830
2,017	*	AuthenTec, Inc		21,017
10,189	*	Axcelis Technologies, Inc		49,722
4,993	e	Black & Decker Corp		287,147
1,195		Black Box Corp		32,492
3,167	*	Blount International, Inc		36,769
718	*	Bolt Technology Corp		16,205
3,442	e	Briggs & Stratton Corp		43,645
29,510	*	Brocade Communications Systems, Inc		243,162
5,560	*	Brooks Automation, Inc		45,981
6,114		Bucyrus International, Inc (Class A)		446,444
5,163	e	Carlisle Cos, Inc		149,727
1,107	e	Cascade Corp		46,848
50,331		Caterpillar, Inc		3,715,434
6,306	e*	Cirrus Logic, Inc		35,061
1,741	*	Colfax Corp		43,682
1,964	*	Columbus McKinnon Corp		47,293
6,439	*	Cray, Inc		29,877
16,752		Cummins, Inc		1,097,591
3,745		Curtiss-Wright Corp		167,551
2,621	e*	Cymer, Inc		70,452
35,270		Deere & Co		2,544,025
148,895	*	Dell, Inc		3,257,823
5,384		Diebold, Inc		191,563
6,607		Donaldson Co, Inc		294,936
15,565		Dover Corp		752,879
6,855	*	Dresser-Rand Group, Inc		268,031
2,530	*	Dril-Quip, Inc		159,390
5,230	*	Electronics for Imaging, Inc		76,358
169,163	*	EMC Corp		2,485,004
6,226	*	Emulex Corp		72,533
2,933	*	Ener1, Inc		21,763
2,000	e*	ENGlobal Corp		28,480
2,025	e*	EnPro Industries, Inc		75,614
9,368	*	Entegris, Inc		61,360
7,219	e*	Extreme Networks, Inc		20,502
2,526	e*	Flotek Industries, Inc		52,086
2,741	e*	Flow International Corp		21,380
4,694		Flowserve Corp		641,670
10,486	*	FMC Technologies, Inc		806,688
1,264	e*	Fuel Tech, Inc		22,272
4,098	*	Gardner Denver, Inc		232,766
647	e*	Gehl Co		9,569
815,649		General Electric Co		21,769,672
1,186	e	Gorman-Rupp Co		47,250
5,188	e	Graco, Inc		197,507
413		Graham Corp		30,607

129

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
201,744		Hewlett-Packard Co	$	8,919,102
397	e*	Hurco Cos, Inc		12,263
6,473		IDEX Corp		238,465
4,169	e*	Immersion Corp		28,391
25,634		Ingersoll-Rand Co Ltd (Class A)		959,488
5,014	e*	Intermec, Inc		105,695
112,393		International Business Machines Corp		13,321,942
25,328		International Game Technology		632,693
2,352	*	Intevac, Inc		26,531
3,240	e*	Isilon Systems, Inc		14,386
14,719		ITT Industries, Inc		932,154
17,110		Jabil Circuit, Inc		280,775
8,912		Joy Global, Inc		675,797
921	*	Kadant, Inc		20,815
2,263	e	Kaydon Corp		116,341
6,426		Kennametal, Inc		209,166
463	*	Key Technology, Inc		14,728
4,096	e*	Kulicke & Soffa Industries, Inc		29,860
9,940	*	Lam Research Corp		359,331
4,105		Lennox International, Inc		118,881
7,546	*	Lexmark International, Inc (Class A)		252,263
1,092	e	Lindsay Manufacturing Co		92,787
1,312		Lufkin Industries, Inc		109,263
10,316		Manitowoc Co, Inc		335,579
1,232		Met-Pro Corp		16,447
6,470	*	Micros Systems, Inc		197,270
1,266	e*	Middleby Corp		55,590
2,202	e	Modine Manufacturing Co		27,239
407		Nacco Industries, Inc (Class A)		30,260
1,747	e*	NATCO Group, Inc (Class A)		95,264
976	*	Natural Gas Services Group, Inc		29,749
3,243	*	Netezza Corp		37,230
2,509	*	Netgear, Inc		34,775
1,284		NN, Inc		17,899
2,745		Nordson Corp		200,083
4,103	*	Oil States International, Inc		260,294
9,925		Pall Corp		393,824
11,006	e	Palm, Inc		59,323
521	*	Peerless Manufacturing Co		24,419
11,592	e*	Quantum Corp		15,649
2,563	*	Rackable Systems, Inc		34,344
2,125	*	RBC Bearings, Inc		70,805
749	*	Rimage Corp		9,280
4,575	e*	Riverbed Technology, Inc		62,769
2,054		Robbins & Myers, Inc		102,433
12,004		Rockwell Automation, Inc		524,935
8,149	e*	Safeguard Scientifics, Inc		10,105
18,399	*	SanDisk Corp		344,062
801	e	Sauer-Danfoss, Inc		24,951
1,906	e*	Scansource, Inc		51,005
5,336	e*	Scientific Games Corp (Class A)		158,052
2,131	m,v*	Seagate Technology		-
39,625		Seagate Technology, Inc		758,026
861	e*	Semitool, Inc		6,466

130

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,487	e*	Sigma Designs, Inc	$	34,544
4,279		SPX Corp		563,673
908		Standex International Corp		18,832
2,311	e*	STEC, Inc		23,734
1,852	*	Super Micro Computer, Inc		13,668
1,020	*	T-3 Energy Services, Inc		81,060
1,238	*	Tecumseh Products Co (Class A)		40,582
1,792	e	Tennant Co		53,886
14,739	*	Teradata Corp		341,060
8,261	*	Terex Corp		424,368
1,120	*	Thermadyne Holdings Corp		16,565
6,774		Timken Co		223,136
3,187	e	Toro Co		106,032
3,559	e*	TurboChef Technologies, Inc		17,012
668	e	Twin Disc, Inc		13,981
1,844	e*	Ultratech, Inc		28,619
10,346	*	Varian Medical Systems, Inc		536,440
5,573	e*	VeriFone Holdings, Inc		66,598
1,876	e	Watsco, Inc		78,417
18,315	*	Western Digital Corp		632,417
4,818		Woodward Governor Co		171,810
5,840	*	Zebra Technologies Corp (Class A)		190,618
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		78,860,408
INSTRUMENTS AND RELATED PRODUCTS - 4.87%
1,448	e*	Abaxis, Inc		34,940
2,477	e*	Abiomed, Inc		43,967
3,015	e*	Accuray, Inc		21,979
4,345	e*	Advanced Medical Optics, Inc		81,425
5,423	*	Affymetrix, Inc		55,803
29,938	*	Agilent Technologies, Inc		1,063,997
5,548	e*	Align Technology, Inc		58,199
24,974		Allergan, Inc		1,299,897
5,289	e*	American Medical Systems Holdings, Inc		79,071
911	e	American Science & Engineering, Inc		46,944
1,240		Analogic Corp		78,207
1,598	*	Anaren, Inc		16,891
2,859	*	Angiodynamics, Inc		38,940
13,665		Applied Biosystems, Inc		457,504
929	e*	Argon ST, Inc		23,039
1,986	e*	Arthrocare Corp		81,049
118		Atrion Corp		11,307
711	*	Axsys Technologies, Inc		37,000
1,270	e	Badger Meter, Inc		64,173
8,157		Bard (C.R.), Inc		717,408
51,333		Baxter International, Inc		3,282,232
5,147		Beckman Coulter, Inc		347,577
19,977		Becton Dickinson & Co		1,624,130
1,659	*	Bio-Rad Laboratories, Inc (Class A)		134,197
121,362	*	Boston Scientific Corp		1,491,539
4,735	*	Bruker BioSciences Corp		60,845
4,004	*	Caliper Life Sciences, Inc		10,370
845	e*	Cantel Medical Corp		8,551
1,607	*	Cardiac Science Corp		13,177

131

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,408	*	Cepheid, Inc	$	123,953
1,949	*	Coherent, Inc		58,256
1,401	e	Cohu, Inc		20,567
2,009	*	Conmed Corp		53,339
3,717	e	Cooper Cos, Inc		138,087
40,793		Covidien Ltd		1,953,577
1,933	e*	Cyberonics, Inc		41,946
565	e*	Cynosure, Inc (Class A)		11,198
20,918		Danaher Corp		1,616,961
993		Datascope Corp		46,671
12,415		Dentsply International, Inc		456,872
4,081	*	Depomed, Inc		13,100
2,127	*	DexCom, Inc		12,847
1,785	*	Dionex Corp		118,470
3,392	e	DRS Technologies, Inc		267,018
294	*	DXP Enterprises, Inc		12,242
890	*	Eagle Test Systems, Inc		9,968
23,131	e	Eastman Kodak Co		333,780
63,895		Emerson Electric Co		3,159,608
2,297	e*	ESCO Technologies, Inc		107,775
2,397	*	Esterline Technologies Corp		118,076
5,760	e*	ev3, Inc		54,605
558	*	Exactech, Inc		14,346
900	*	Excel Technology, Inc		20,088
1,082	e*	FARO Technologies, Inc		27,234
2,562	e*	FEI Co		58,362
900	*	FGX International Holdings Ltd		7,236
11,224	*	Flir Systems, Inc		455,358
3,441	e*	Formfactor, Inc		63,418
3,552	e*	Fossil, Inc		103,257
10,485	e	Garmin Ltd		449,177
2,669	*	Haemonetics Corp		148,023
1,863	*	Hanger Orthopedic Group, Inc		30,721
1,104	*	Herley Industries, Inc		14,661
5,475		Hillenbrand, Inc		117,165
20,648	*	Hologic, Inc		450,126
803	*	ICU Medical, Inc		18,373
1,409	e*	I-Flow Corp		14,301
1,718	e*	II-VI, Inc		59,993
4,639	e*	Illumina, Inc		404,103
1,070	e*	Insulet Corp		16,831
1,647	e*	Integra LifeSciences Holdings Corp		73,259
3,166	*	Intuitive Surgical, Inc		852,920
2,614	e	Invacare Corp		53,430
6,650	e*	ION Geophysical Corp		116,043
1,475	*	IRIS International, Inc		23,084
2,788	*	Itron, Inc		274,200
2,349	*	Ixia		16,326
230,724		Johnson & Johnson		14,844,782
730	e*	Kensey Nash Corp		23,397
13,912		Kla-Tencor Corp		566,358
5,751	*	Kopin Corp		16,505
194	*	K-Tron International, Inc		25,142
5,337	e*	L-1 Identity Solutions, Inc		71,089

132

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
992	*	LaBarge, Inc	$	12,896
5,167	e*	LTX Corp		11,367
1,386	*	Lydall, Inc		17,394
3,760	e*	Masimo Corp		129,156
708	*	Measurement Specialties, Inc		12,454
911	*	Medical Action Industries, Inc		9,447
92,201		Medtronic, Inc		4,771,402
3,404	e	Mentor Corp		94,699
1,974	*	Merit Medical Systems, Inc		29,018
2,916	*	Mettler-Toledo International, Inc		276,612
1,111	e*	Micrus Endovascular Corp		15,576
4,373	*	Millipore Corp		296,752
2,677	e	Mine Safety Appliances Co		107,053
3,655	*	MKS Instruments, Inc		80,045
1,160		Movado Group, Inc		22,968
1,493		MTS Systems Corp		53,569
4,744		National Instruments Corp		134,587
2,272	*	Natus Medical, Inc		47,576
1,198	*	Neogen Corp		27,422
3,159	*	Newport Corp		35,981
2,732	*	NuVasive, Inc		122,011
1,473	e*	NxStage Medical, Inc		5,656
1,201	e*	Orthofix International NV		34,769
5,253	*	Orthovita, Inc		10,769
258	e*	OYO Geospace Corp		15,207
1,095	e*	Palomar Medical Technologies, Inc		10,928
9,704		PerkinElmer, Inc		270,256
1,407	*	Photon Dynamics Inc		21,218
17,131		Pitney Bowes, Inc		584,167
6,206	e*	Resmed, Inc		221,802
13,144		Rockwell Collins, Inc		630,386
2,774	*	Rofin-Sinar Technologies, Inc		83,775
7,301		Roper Industries, Inc		480,990
1,888	e*	Rudolph Technologies, Inc		14,538
6,894	e*	Sirf Technology Holdings, Inc		29,782
1,128	e*	Sirona Dental Systems, Inc		29,238
1,023	*	Somanetics Corp		21,688
1,326	e*	Sonic Solutions, Inc		7,903
1,231	e*	SonoSite, Inc		34,480
2,046	*	Spectranetics Corp		20,174
27,480	*	St. Jude Medical, Inc		1,123,382
5,379		STERIS Corp		154,700
25,017		Stryker Corp		1,573,069
3,638	*	Symmetry Medical, Inc		59,008
1,050	*	Synovis Life Technologies, Inc		19,772
3,374	*	Techne Corp		261,114
2,964	*	Teledyne Technologies, Inc		144,613
13,384	*	Teradyne, Inc		148,161
34,228	*	Thermo Electron Corp		1,907,526
3,898	e*	Thoratec Corp		67,786
1,033	*	Trans1, Inc		15,567
9,984	e*	Trimble Navigation Ltd		356,429
2,586	*	Varian, Inc		132,041
2,601	e*	Veeco Instruments, Inc		41,824

133

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,742	e*	Vital Images, Inc	$	21,670
832		Vital Signs, Inc		47,241
4,143	e*	Vivus, Inc		27,675
1,050	*	Vnus Medical Technologies, Inc		21,010
3,892	*	Volcano Corp		47,482
8,210	*	Waters Corp		529,545
2,962	*	Wright Medical Group, Inc		84,150
73,559		Xerox Corp		997,460
18,943	*	Zimmer Holdings, Inc		1,289,071
1,434	*	Zoll Medical Corp		48,283
1,229	*	Zygo Corp		12,081
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		57,408,953
INSURANCE AGENTS, BROKERS AND SERVICE - 0.40%
24,275		AON Corp		1,115,194
9,463		Brown & Brown, Inc		164,562
1,201	e*	Crawford & Co (Class B)		9,596
7,414	e	Gallagher (Arthur J.) & Co		178,677
25,531		Hartford Financial Services Group, Inc		1,648,537
2,857		Hilb Rogal & Hobbs Co		124,165
491		Life Partners Holdings, Inc		9,810
41,995		Marsh & McLennan Cos, Inc		1,114,967
2,733	e	National Financial Partners Corp		54,168
1,801	*	United America Indemnity Ltd (Class A)		24,079
754		White Mountains Insurance Group Ltd		323,466
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		4,767,221
INSURANCE CARRIERS - 3.47%
26,876		ACE Ltd		1,480,599
39,328		Aetna, Inc		1,593,964
39,088		Aflac, Inc		2,454,726
419	e*	Alleghany Corp		139,129
4,126		Allied World Assurance Holdings Ltd		163,472
45,063		Allstate Corp		2,054,422
26,171	e	Ambac Financial Group, Inc		35,069
3,771		American Equity Investment Life Holding Co		30,734
6,425		American Financial Group, Inc		171,869
189,575		American International Group, Inc		5,016,155
1,288		American National Insurance Co		126,250
1,012		American Physicians Capital, Inc		49,021
850	*	American Safety Insurance Holdings Ltd		12,223
4,365	*	AMERIGROUP Corp		90,792
1,343	*	Amerisafe, Inc		21,407
1,831	e	Amtrust Financial Services, Inc		23,071
4,136	*	Arch Capital Group Ltd		274,300
2,387	*	Argo Group International Holdings Ltd		80,108
7,088		Aspen Insurance Holdings Ltd		167,773
9,669		Assurant, Inc		637,767
5,095	e	Assured Guaranty Ltd		91,659
12,255		Axis Capital Holdings Ltd		365,322
711	e	Baldwin & Lyons, Inc (Class B)		12,428
2,711		Castlepoint Holdings Ltd		24,643
3,736	*	Centene Corp		62,727
30,036		Chubb Corp		1,472,064

134

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
11,942		Cincinnati Financial Corp	$	303,327
2,569	e*	Citizens, Inc		15,748
1,739		CNA Financial Corp		43,736
1,063	*	CNA Surety Corp		13,436
15,444	*	Conseco, Inc		153,204
539	e*	Darwin Professional Underwriters, Inc		16,601
3,312		Delphi Financial Group, Inc (Class A)		76,640
419		Donegal Group, Inc (Class A)		6,650
178	e	EMC Insurance Group, Inc		4,286
4,260		Employers Holdings, Inc		88,182
4,367	e	Endurance Specialty Holdings Ltd		134,460
506	e*	Enstar Group Ltd		44,275
3,198	e	Erie Indemnity Co (Class A)		147,588
5,101		Everest Re Group Ltd		406,601
1,117		FBL Financial Group, Inc (Class A)		22,206
17,670		Fidelity National Title Group, Inc (Class A)		222,642
1,688	e*	First Acceptance Corp		5,402
7,218	e	First American Corp		190,555
906	*	First Mercury Financial Corp		15,982
2,490		Flagstone Reinsurance Holdings Ltd		29,357
665	e*	Fpic Insurance Group, Inc		30,138
35,175		Genworth Financial, Inc (Class A)		626,467
2,355	e*	Greenlight Capital Re Ltd (Class A)		53,835
4,147		Hanover Insurance Group, Inc		176,248
1,021	e	Harleysville Group, Inc		34,540
9,561		HCC Insurance Holdings, Inc		202,120
8,785	*	Health Net, Inc		211,367
2,904	*	HealthExtras, Inc		87,527
4,375	*	Healthspring, Inc		73,850
2,772		Horace Mann Educators Corp		38,863
13,454	*	Humana, Inc		535,066
477	e	Independence Holding Co		4,660
1,955		Infinity Property & Casualty Corp		81,172
4,642		IPC Holdings Ltd		123,245
246		Kansas City Life Insurance Co		10,271
1,241	e	LandAmerica Financial Group, Inc		27,538
14,131	e	Leucadia National Corp		663,309
21,217		Lincoln National Corp		961,554
25,690	e	Loews Corp		1,204,861
3,977		Maiden Holdings Ltd		25,453
804	*	Markel Corp		295,068
4,401	e	Max Re Capital Ltd		93,873
17,839	e	MBIA, Inc		78,313
1,740		Meadowbrook Insurance Group, Inc		9,222
2,119	e	Mercury General Corp		99,000
36,977		Metlife, Inc		1,951,276
9,996	e	MGIC Investment Corp		61,076
1,647	e*	Molina Healthcare, Inc		40,088
8,145	e	Montpelier Re Holdings Ltd		120,139
1,070	e	National Interstate Corp		19,667
147		National Western Life Insurance Co (Class A)		32,120
3,844	e	Nationwide Financial Services, Inc (Class A)		184,550
1,310	*	Navigators Group, Inc		70,806
393	e	NYMAGIC, Inc		7,530

135

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,982	e	Odyssey Re Holdings Corp	$	70,361
18,927	e	Old Republic International Corp		224,096
2,079	e	OneBeacon Insurance Group Ltd		36,528
4,449		PartnerRe Ltd		307,559
4,678	*	Philadelphia Consolidated Holding Co		158,912
8,285	e	Phoenix Cos, Inc		63,049
4,647		Platinum Underwriters Holdings Ltd		151,539
2,758	*	PMA Capital Corp (Class A)		25,401
6,414	e	PMI Group, Inc		12,507
1,376	e	Presidential Life Corp		21,218
3,319	e*	Primus Guaranty Ltd		9,658
21,176		Principal Financial Group		888,757
2,765	e*	ProAssurance Corp		133,024
1,092		Procentury Corp		17,297
55,467		Progressive Corp		1,038,342
5,564		Protective Life Corp		211,710
35,508		Prudential Financial, Inc		2,121,248
5,712		Quanta Capital Holdings Ltd		15,080
8,338		Radian Group, Inc		12,090
1,708	*	RadNet, Inc		10,589
2,532		Reinsurance Group Of America, Inc		110,193
5,286		RenaissanceRe Holdings Ltd		236,125
1,621	e	RLI Corp		80,191
7,356		Safeco Corp		494,029
1,566		Safety Insurance Group, Inc		55,828
721	*	SCPIE Holdings Inc		20,180
1,144	*	SeaBright Insurance Holdings, Inc		16,565
4,248		Selective Insurance Group, Inc		79,692
4,232		Stancorp Financial Group, Inc		198,735
2,075	e	State Auto Financial Corp		49,655
1,175		Stewart Information Services Corp		22,725
7,639		Torchmark Corp		448,027
1,672	e	Tower Group, Inc		35,430
2,197		Transatlantic Holdings, Inc		124,064
49,496		Travelers Cos, Inc		2,148,126
900	e*	Triple-S Management Corp (Class B)		14,715
1,880	e	United Fire & Casualty Co		50,628
100,538		UnitedHealth Group, Inc		2,639,122
3,532		Unitrin, Inc		97,377
3,755	e*	Universal American Financial Corp		38,376
28,322		UnumProvident Corp		579,185
5,282	e	Validus Holdings Ltd		112,243
11,713		W.R. Berkley Corp		282,986
3,656	*	WellCare Health Plans, Inc		132,164
117		Wesco Financial Corp		44,694
14,653		XL Capital Ltd (Class A)		301,265
3,038		Zenith National Insurance Corp		106,816
		TOTAL INSURANCE CARRIERS		40,875,485
JUSTICE, PUBLIC ORDER AND SAFETY - 0.01%
3,930	*	Geo Group, Inc		88,425
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		88,425

136

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
LEATHER AND LEATHER PRODUCTS - 0.10%
27,942	*	Coach, Inc	$	806,965
6,919	e*	CROCS, Inc		55,421
1,742	e*	Genesco, Inc		53,775
4,946	e*	Iconix Brand Group, Inc		59,748
1,492	*	Steven Madden Ltd		27,423
3,526	e*	Timberland Co (Class A)		57,650
334	e	Weyco Group, Inc		8,861
4,349	e	Wolverine World Wide, Inc		115,988
		TOTAL LEATHER AND LEATHER PRODUCTS		1,185,831
LEGAL SERVICES - 0.03%
4,111	*	FTI Consulting, Inc		281,439
651	e*	Pre-Paid Legal Services, Inc		26,444
		TOTAL LEGAL SERVICES		307,883
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.00%**
670	e*	Emergency Medical Services Corp (Class A)		15,162
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		15,162
LUMBER AND WOOD PRODUCTS - 0.02%
640	e	American Woodmark Corp		13,523
6,272	e*	Champion Enterprises, Inc		36,691
793	e	Deltic Timber Corp		42,433
8,485	e	Louisiana-Pacific Corp		72,038
508	e	Skyline Corp		11,938
1,139	e	Universal Forest Products, Inc		34,125
		TOTAL LUMBER AND WOOD PRODUCTS		210,748
METAL MINING - 0.70%
3,613	*	Allied Nevada Gold Corp		21,280
5,768	e*	Apex Silver Mines Ltd		28,321
7,368		Cleveland-Cliffs, Inc		878,192
41,624	e*	Coeur d'Alene Mines Corp		120,710
3,682		Foundation Coal Holdings, Inc		326,151
31,424		Freeport-McMoRan Copper & Gold, Inc (Class B)		3,682,579
10,241	e*	Hecla Mining Co		94,832
35,734		Newmont Mining Corp		1,863,885
2,186	e*	Patriot Coal Corp		335,092
4,229	*	Rosetta Resources, Inc		120,526
2,555		Royal Gold, Inc		80,125
3,890	e*	ShengdaTech, Inc		38,628
5,957	e	Southern Copper Corp		635,195
3,801	e*	Stillwater Mining Co		44,966
4,918	e*	Uranium Resources, Inc		18,147
		TOTAL METAL MINING		8,288,629
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.32%
1,767	e	Armstrong World Industries, Inc		51,632
1,955		Blyth, Inc		23,519
4,917	e	Callaway Golf Co		58,168
3,000		Daktronics, Inc		60,510
12,651		Fortune Brands, Inc		789,549
10,098		Hasbro, Inc		360,701
2,794	*	Intrepid Potash, Inc		183,789

137

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,532	e*	Jakks Pacific, Inc	$	55,324
396	e	Marine Products Corp		2,613
29,869		Mattel, Inc		511,357
6,359	e	Nautilus, Inc		32,304
1,490	*	RC2 Corp		27,654
634	e*	Russ Berrie & Co, Inc		5,053
3,210	e*	Shuffle Master, Inc		15,857
569	e*	Steinway Musical Instruments, Inc		15,022
39,521		Tyco International Ltd		1,582,421
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		3,775,473
MISCELLANEOUS RETAIL - 1.25%
2,238	*	1-800-FLOWERS.COM, Inc (Class A)		14,435
25,764	*	Amazon.com, Inc		1,889,274
3,134	e	Barnes & Noble, Inc		77,849
27,342		Best Buy Co, Inc		1,082,743
1,344	e	Big 5 Sporting Goods Corp		10,174
1,266	e*	Blue Nile, Inc		53,830
4,275	e	Borders Group, Inc		25,650
918	e*	Build-A-Bear Workshop, Inc		6,674
3,805	e*	Cabela's, Inc		41,893
2,380		Cash America International, Inc		73,780
3,455	*	CKX, Inc		30,231
4,691	e*	Coldwater Creek, Inc		24,768
116,969		CVS Corp		4,628,463
6,440	e*	Dick's Sporting Goods, Inc		114,246
7,089	*	Dollar Tree, Inc		231,739
6,969	*	Drugstore.Com		13,241
2,427	*	Ezcorp, Inc (Class A)		30,944
2,096	*	GSI Commerce, Inc		28,568
2,889	e*	Hibbett Sports, Inc		60,958
2,700	e	Longs Drug Stores Corp		113,697
3,771		MSC Industrial Direct Co (Class A)		166,339
2,988	e	Nutri/System, Inc		42,250
21,258	*	Office Depot, Inc		232,563
6,672	e	OfficeMax, Inc		92,741
1,624	e*	Overstock.com, Inc		42,143
886	*	PC Mall, Inc		12,014
10,071		Petsmart, Inc		200,917
3,150	e*	Priceline.com, Inc		363,699
963		Pricesmart, Inc		19,048
43,742	e*	Rite Aid Corp		69,550
4,827	e*	Sears Holdings Corp		355,557
1,063	*	Shutterfly, Inc		12,979
1,216	e*	Stamps.com, Inc		15,176
57,467		Staples, Inc		1,364,841
1,129	e	Systemax, Inc		19,927
10,326		Tiffany & Co		420,785
81,042		Walgreen Co		2,634,676
2,077		World Fuel Services Corp		45,569
3,640	e*	Zale Corp		68,760
1,933	e*	Zumiez, Inc		32,049
		TOTAL MISCELLANEOUS RETAIL		14,764,740

138

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
MOTION PICTURES - 0.92%
3,122	e*	Avid Technology, Inc	$	53,043
15,402	e*	Blockbuster, Inc (Class A)		38,505
48,265		CBS Corp (Class B)		940,685
2,032	e	Cinemark Holdings, Inc		26,538
22,974	*	Discovery Holding Co (Class A)		504,509
6,535	*	DreamWorks Animation SKG, Inc (Class A)		194,808
1,062	e*	Gaiam, Inc (Class A)		14,348
6,740	e*	Macrovision Solutions Corp		100,833
3,000	e	National CineMedia, Inc		31,980
189,289		News Corp (Class A)		2,846,907
6,662	e	Regal Entertainment Group (Class A)		101,795
292,811		Time Warner, Inc		4,333,603
12,040	e*	tw telecom inc		193,001
46,110	*	Viacom, Inc (Class B)		1,408,199
		TOTAL MOTION PICTURES		10,788,754
NONDEPOSITORY INSTITUTIONS - 0.92%
4,721		Advance America Cash Advance Centers, Inc		23,983
2,678		Advanta Corp (Class B)		16,845
16,973		American Capital Ltd		403,448
82,602		American Express Co		3,111,617
9,815	e*	AmeriCredit Corp		84,605
8,582	e	Ares Capital Corp		86,507
5,840	e*	Boise, Inc		22,484
30,689	e	Capital One Financial Corp		1,166,489
12,818	e	CapitalSource, Inc		142,023
2,500	e	Chimera Investment Corp		22,525
22,923	e	CIT Group, Inc		156,106
1,560	e*	CompuCredit Corp		9,360
48,070		Countrywide Financial Corp		204,298
639	e*	Credit Acceptance Corp		16,333
39,526		Discover Financial Services		520,557
1,148	e*	Encore Capital Group, Inc		10,137
86,850	*	Fannie Mae		1,694,444
556	e	Federal Agricultural Mortgage Corp (Class C)		13,778
1,638		Financial Federal Corp		35,970
1,940	e*	First Cash Financial Services, Inc		29,081
6,161	e	First Marblehead Corp		15,834
52,901		Freddie Mac		867,576
3,730	e	GLG Partners, Inc		29,094
2,565	e*	Guaranty Financial Group, Inc		13,774
1,694	e	Hercules Technology Growth Capital, Inc		15,127
1,400		Kohlberg Capital Corp		14,000
6,389	e	MCG Capital Corp		25,428
1,192		Medallion Financial Corp		11,229
2,076	e*	Mercadolibre, Inc		71,601
825	*	Mitcham Industries, Inc		14,091
1,264	e	Nelnet, Inc (Class A)		14,195
965	e*	NewStar Financial, Inc		5,703
1,747	e	NGP Capital Resources Co		26,921
5,863	e*	Ocwen Financial Corp		27,263
1,325	e	Patriot Capital Funding, Inc		8,281
3,898	*	PHH Corp		59,834

139

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
38,039	*	SLM Corp	$	736,055
293		Student Loan Corp		28,737
20,584		Textron, Inc		986,591
5,000	e*	thinkorswim Group, Inc		35,250
310	e	TICC Capital Corp		1,693
3	e*	TICC Capital Corp		-
1,438	e*	World Acceptance Corp		48,417
		TOTAL NONDEPOSITORY INSTITUTIONS		10,827,284
NONMETALLIC MINERALS, EXCEPT FUELS - 0.07%
2,631	e	AMCOL International Corp		74,878
2,669		Compass Minerals International, Inc		215,015
3,975	e*	General Moly, Inc		31,283
8,709	e	Vulcan Materials Co		520,624
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		841,800
OIL AND GAS EXTRACTION - 5.25%
3,365	*	Abraxas Petroleum Corp		18,205
38,012		Anadarko Petroleum Corp		2,844,818
676	e	APCO Argentina, Inc		19,570
746	*	Approach Resources, Inc		19,985
2,784	*	Arena Resources, Inc		147,051
2,974		Atlas America, Inc		134,001
2,259	*	ATP Oil & Gas Corp		89,163
2,289	*	Atwood Oceanics, Inc		284,614
25,203		Baker Hughes, Inc		2,201,230
3,357	*	Basic Energy Services, Inc		105,746
3,401		Berry Petroleum Co (Class A)		200,251
2,998	*	Bill Barrett Corp		178,111
24,364		BJ Services Co		778,186
3,062	*	BMB Munai, Inc		18,188
1,611	e*	Bois d'Arc Energy, Inc		39,163
3,760	e*	Brigham Exploration Co		59,521
1,640	e*	Bronco Drilling Co, Inc		30,143
3,928	e*	Cal Dive International, Inc		56,131
1,403	e*	Callon Petroleum Co		38,386
17,786	*	Cameron International Corp		984,455
3,112	*	Cano Petroleum, Inc		24,709
2,238	*	Carrizo Oil & Gas, Inc		152,385
3,680	e*	Cheniere Energy, Inc		16,082
44,043	e	Chesapeake Energy Corp		2,905,076
6,790		Cimarex Energy Co		473,059
445	e*	Clayton Williams Energy, Inc		48,928
2,252	*	CNX Gas Corp		94,674
3,961	*	Complete Production Services, Inc		144,260
3,703	*	Comstock Resources, Inc		312,644
4,077	*	Concho Resources, Inc		152,072
1,277	e*	Contango Oil & Gas Co		118,659
2,499	e*	Continental Resources, Inc		173,231
616	e*	Dawson Geophysical Co		36,627
5,491	e*	Delta Petroleum Corp		140,130
20,097	*	Denbury Resources, Inc		733,541
5,628		Diamond Offshore Drilling, Inc		783,080
668	*	Double Eagle Petroleum Co		12,178

140

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
4,326	*	Encore Acquisition Co	$	325,272
9,303	*	Endeavour International Corp		20,188
2,414	*	Energy Partners Ltd		36,017
5,767	*	Energy XXI Bermuda Ltd		39,908
11,806		ENSCO International, Inc		953,216
10,703		Equitable Resources, Inc		739,149
6,108	e*	EXCO Resources, Inc		225,446
5,295	e*	Exterran Holdings, Inc		378,540
7,191	*	Forest Oil Corp		535,730
2,564	e*	FX Energy, Inc		13,512
7,722	*	Gasco Energy, Inc		32,046
5,057	e*	GeoGlobal Resources, Inc		10,771
504	*	Geokinetics, Inc		9,127
1,491	*	Geomet, Inc		14,135
9,461	*	Global Industries Ltd		169,636
1,138	*	GMX Resources, Inc		84,326
1,789	e*	Goodrich Petroleum Corp		148,344
13,526	e	Grey Wolf, Inc		122,140
2,151	*	Gulfport Energy Corp		35,427
71,385		Halliburton Co		3,788,402
3,621	e*	Harvest Natural Resources, Inc		40,048
710	e	Kayne Anderson Energy Development Co		16,295
7,245	*	Helix Energy Solutions Group, Inc		301,682
8,429		Helmerich & Payne, Inc		607,057
7,133	*	Hercules Offshore, Inc		271,197
1,275	*	Houston American Energy Corp		14,306
10,233	*	Key Energy Services, Inc		198,725
7,211	e*	Mariner Energy, Inc		266,591
3,931	e*	McMoRan Exploration Co		108,181
9,213	*	Meridian Resource Corp		27,178
23,046	e*	Nabors Industries Ltd		1,134,555
33,906	*	National Oilwell Varco, Inc		3,008,140
8,709	e*	Newpark Resources, Inc		68,453
21,820		Noble Corp		1,417,427
1,623	*	Northern Oil And Gas, Inc		21,553
4,512	*	Oceaneering International, Inc		347,650
14,732	e*	Oilsands Quest, Inc		95,758
611		Panhandle Oil and Gas, Inc		20,688
3,901	*	Parallel Petroleum Corp		78,527
8,740	e*	Parker Drilling Co		87,487
12,819	e	Patterson-UTI Energy, Inc		461,997
3,324		Penn Virginia Corp		250,696
416	m,v*	Petrocorp, Inc		-
17,730	*	PetroHawk Energy Corp		821,076
1,462	*	Petroleum Development Corp		97,208
3,247	e*	Petroquest Energy, Inc		87,344
4,643	*	Pioneer Drilling Co		87,335
9,786		Pioneer Natural Resources Co		766,048
8,797	*	Plains Exploration & Production Co		641,917
13,519	*	Pride International, Inc		639,314
1,600	*	Quest Resource Corp		18,256
8,202	e*	Quicksilver Resources, Inc		316,925
3,028	*	RAM Energy Resources, Inc		19,076
12,582		Range Resources Corp		824,624

141

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,180	e*	Rex Energy Corp	$	57,552
8,984		Rowan Cos, Inc		420,002
2,562	e	RPC, Inc		43,042
97,636		Schlumberger Ltd		10,489,035
1,932	e*	SEACOR Holdings, Inc		172,933
16,345		Smith International, Inc		1,358,923
27,982	*	Southwestern Energy Co		1,332,223
5,027		St. Mary Land & Exploration Co		324,945
2,317	*	Stone Energy Corp		152,713
8,618	e*	Sulphco, Inc		19,563
6,478	*	Superior Energy Services		357,197
1,628	e*	Superior Well Services, Inc		51,624
2,664	*	Swift Energy Co		175,984
6,751	e*	Tetra Technologies, Inc		160,066
4,279	e	Tidewater, Inc		278,263
1,946	e*	Toreador Resources Corp		16,599
25,945		Transocean, Inc		3,953,759
1,429	e*	Trico Marine Services, Inc		52,044
1,902	*	Tri-Valley Corp		14,132
3,774	e*	TXCO Resources, Inc		44,382
1,041	*	Union Drilling, Inc		22,569
3,946	*	Unit Corp		327,400
3,845	e*	Vaalco Energy, Inc		32,567
1,659	*	Venoco, Inc		38,505
2,427	e	W&T Offshore, Inc		142,004
5,521	*	Warren Resources, Inc		81,048
55,458	*	Weatherford International Ltd		2,750,162
2,531	*	W-H Energy Services, Inc		242,318
3,425	*	Whiting Petroleum Corp		363,324
3,179	*	Willbros Group, Inc		139,272
41,564		XTO Energy, Inc		2,847,550
		TOTAL OIL AND GAS EXTRACTION		61,874,599
PAPER AND ALLIED PRODUCTS - 0.41%
5,337	e	AbitibiBowater, Inc		49,794
8,135	e	Bemis Co		182,387
2,336	*	Buckeye Technologies, Inc		19,763
3,976	e*	Cenveo, Inc		38,845
38,287	*	Domtar Corporation		208,664
3,112		Glatfelter		42,043
11,931	e*	Graphic Packaging Holding Co		24,101
2,721		Greif, Inc (Class A)		174,226
35,261		International Paper Co		821,581
34,249		Kimberly-Clark Corp		2,047,405
14,378	e	MeadWestvaco Corp		342,771
5,591	e*	Mercer International, Inc		41,821
1,091		Neenah Paper, Inc		18,231
8,309		Packaging Corp of America		178,727
3,548		Rock-Tenn Co (Class A)		106,404
1,100		Schweitzer-Mauduit International, Inc		18,535
21,789	*	Smurfit-Stone Container Corp		88,681
8,082		Sonoco Products Co		250,138
8,911	e	Temple-Inland, Inc		100,427

142

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
3,238	e	Wausau Paper Corp	$	24,965
		TOTAL PAPER AND ALLIED PRODUCTS		4,779,509
PERSONAL SERVICES - 0.14%
601		Angelica Corp		12,783
10,956		Cintas Corp		290,444
2,416	*	Coinstar, Inc		79,027
2,089	e	G & K Services, Inc (Class A)		63,631
26,422		H&R Block, Inc		565,431
2,460	e	Jackson Hewitt Tax Service, Inc		30,061
3,440		Regis Corp		90,644
8,257	e*	Sally Beauty Holdings, Inc		53,340
21,386		Service Corp International		210,866
1,231	*	Steiner Leisure Ltd		34,899
1,120		Unifirst Corp		50,019
3,142	e	Weight Watchers International, Inc		111,887
		TOTAL PERSONAL SERVICES		1,593,032
PETROLEUM AND COAL PRODUCTS - 8.28%
1,047	e	Alon USA Energy, Inc		12,522
3,015	*	American Oil & Gas, Inc		11,819
27,300		Apache Corp		3,794,700
4,890		Ashland, Inc		235,698
8,010		Cabot Oil & Gas Corp		542,517
169,256		Chevron Corp		16,778,347
126,226		ConocoPhillips		11,914,472
1,500	*	CVR Energy, Inc		28,875
440		Delek US Holdings, Inc		4,052
36,515		Devon Energy Corp		4,387,643
20,316		EOG Resources, Inc		2,665,459
432,601		Exxon Mobil Corp		38,125,126
8,621		Frontier Oil Corp		206,128
7,767	*	Gran Tierra Energy, Inc		61,903
3,218	e*	Headwaters, Inc		37,876
22,975		Hess Corp		2,899,215
3,598		Holly Corp		132,838
57,927		Marathon Oil Corp		3,004,673
15,440		Murphy Oil Corp		1,513,892
10,702	*	Newfield Exploration Co		698,306
13,890		Noble Energy, Inc		1,396,779
67,165		Occidental Petroleum Corp		6,035,447
834		Quaker Chemical Corp		22,234
7,520	e*	SandRidge Energy, Inc		485,642
9,574	e	Sunoco, Inc		389,566
11,252	e	Tesoro Corp		222,452
43,246		Valero Energy Corp		1,780,870
1,308	e	WD-40 Co		38,259
1,978	e	Western Refining, Inc		23,420
		TOTAL PETROLEUM AND COAL PRODUCTS		97,450,730
PIPELINES, EXCEPT NATURAL GAS - 0.13%
52,009		Spectra Energy Corp		1,494,739
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,494,739

143

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
PRIMARY METAL INDUSTRIES - 1.22%
9,168		AK Steel Holding Corp	$	632,592
66,935		Alcoa, Inc		2,384,225
8,196	e	Allegheny Technologies, Inc		485,859
3,666	e	Belden CDT, Inc		124,204
1,752	e*	Brush Engineered Materials, Inc		42,784
3,808		Carpenter Technology Corp		166,219
2,429	e*	Century Aluminum Co		161,504
637	e*	Coleman Cable, Inc		6,574
5,711	e*	CommScope, Inc		301,369
128,808		Corning, Inc		2,969,024
1,929	e	Encore Wire Corp		40,876
1,803	e*	Esmark, Inc		34,473
1,161	*	Fushi Copperweld, Inc		27,551
4,165	*	General Cable Corp		253,440
870	*	General Steel Holdings, Inc		13,676
1,509	e	Gibraltar Industries, Inc		24,099
1,264	e*	Haynes International, Inc		72,743
2,812	*	Horsehead Holding Corp		34,194
4,765		Hubbell, Inc (Class B)		189,981
1,309	e*	LB Foster Co (Class A)		43,459
2,544		Matthews International Corp (Class A)		115,141
1,995	*	Metalico, Inc		34,952
3,036		Mueller Industries, Inc		97,759
639	e*	Northwest Pipe Co		35,656
25,749		Nucor Corp		1,922,678
735		Olympic Steel, Inc		55,801
11,115		Precision Castparts Corp		1,071,153
1,766	e*	RTI International Metals, Inc		62,905
1,808		Schnitzer Steel Industries, Inc (Class A)		207,197
13,725	e	Steel Dynamics, Inc		536,236
2,135	*	Superior Essex, Inc		95,285
2,048	e	Texas Industries, Inc		114,954
6,441	e	Titanium Metals Corp		90,110
1,985	e	Tredegar Corp		29,180
9,590		United States Steel Corp		1,772,040
475	e*	Universal Stainless & Alloy		17,594
4,916	e	Worthington Industries, Inc		100,778
		TOTAL PRIMARY METAL INDUSTRIES		14,368,265
PRINTING AND PUBLISHING - 0.37%
3,945	*	ACCO Brands Corp		44,302
1,334		AH Belo Corp (Class A)		7,604
3,989	e	American Greetings Corp (Class A)		49,224
6,671		Belo (A.H.) Corp (Class A)		48,765
2,149		Bowne & Co, Inc		27,400
1,830	*	China Information Security Technology, Inc		10,358
763	*	Consolidated Graphics, Inc		37,593
738	e	Courier Corp		14,819
509	e	CSS Industries, Inc		12,328
1,765	e*	Dolan Media Co		32,123
4,566		Dun & Bradstreet Corp		400,164
1,468	e	Ennis, Inc		22,974
7,522	e*	EW Scripps Co (Class A)		312,464
18,735	e	Gannett Co, Inc		405,987

144

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,340	e	GateHouse Media, Inc	$	3,297
4,449	e	Harte-Hanks, Inc		50,941
3,702		John Wiley & Sons, Inc (Class A)		166,701
2,531	e	Journal Communications, Inc (Class A)		12,199
3,120	e	Lee Enterprises, Inc		12,449
1,457	e*	Martha Stewart Living Omnimedia, Inc (Class A)		10,782
3,476	e	McClatchy Co (Class A)		23,567
26,115		McGraw-Hill Cos, Inc		1,047,734
1,419		Media General, Inc (Class A)		16,957
3,925	e	Meredith Corp		111,038
3,596	*	MSCI, Inc		130,499
612	e	Multi-Color Corp		12,846
11,647	e	New York Times Co (Class A)		179,247
1,525	e*	Playboy Enterprises, Inc (Class B)		7,534
2,317	*	Presstek, Inc		11,492
3,226	e	Primedia, Inc		15,033
8,895	e*	R.H. Donnelley Corp		26,685
17,272		R.R. Donnelley & Sons Co		512,806
864		Schawk, Inc		10,359
2,978	e	Scholastic Corp		85,350
1,098	e	Standard Register Co		10,354
3,433	e*	Valassis Communications, Inc		42,981
3,805	e*	VistaPrint Ltd		101,822
497		Washington Post Co (Class B)		291,689
		TOTAL PRINTING AND PUBLISHING		4,320,467
RAILROAD TRANSPORTATION - 0.84%
23,035		Burlington Northern Santa Fe Corp		2,300,966
32,823		CSX Corp		2,061,613
2,561	*	Genesee & Wyoming, Inc (Class A)		87,125
6,303	*	Kansas City Southern Industries, Inc		277,269
30,744		Norfolk Southern Corp		1,926,726
42,286		Union Pacific Corp		3,192,593
		TOTAL RAILROAD TRANSPORTATION		9,846,292
REAL ESTATE - 0.09%
14,074	e*	CB Richard Ellis Group, Inc (Class A)		270,221
406	e	Consolidated-Tomoka Land Co		17,076
2,600	e	DuPont Fabros Technology, Inc		48,464
6,043	e	Forest City Enterprises, Inc (Class A)		194,705
2,565	e*	Forestar Real Estate Group, Inc		48,863
691	e*	FX Real Estate and Entertainment, Inc		1,313
7,117		Grubb & Ellis Co		27,400
2,690		Jones Lang LaSalle, Inc		161,911
1,976	e*	LoopNet, Inc		22,329
7,434	e	St. Joe Co		255,135
6,488	e	Stewart Enterprises, Inc (Class A)		46,714
527	*	Stratus Properties, Inc		9,165
1,745		Thomas Properties Group, Inc		17,171
		TOTAL REAL ESTATE		1,120,467
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.29%
485	e*	AEP Industries, Inc		8,424
4,612	e	Cooper Tire & Rubber Co		36,158

145

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,108	*	Deckers Outdoor Corp	$	154,233
19,617	*	Goodyear Tire & Rubber Co		349,771
1,047	e*	Metabolix, Inc		10,261
22,309		Newell Rubbermaid, Inc		374,568
28,816		Nike, Inc (Class B)		1,717,722
2,302		Schulman (A.), Inc		53,015
13,076		Sealed Air Corp		248,575
2,714	*	Skechers U.S.A., Inc (Class A)		53,628
2,697		Spartech Corp		25,433
2,058	e	Titan International, Inc		73,306
679	e*	Trex Co, Inc		7,965
4,822		Tupperware Corp		165,009
2,789	e	West Pharmaceutical Services, Inc		120,708
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		3,398,776
SECURITY AND COMMODITY BROKERS - 2.31%
18,361		Ameriprise Financial, Inc		746,742
1,473	e	BlackRock, Inc		260,721
11,484		Broadridge Financial Solutions, Inc		241,738
1,550	e	Calamos Asset Management, Inc (Class A)		26,397
77,239		Charles Schwab Corp		1,586,489
4,475	*	CME Group, Inc		1,714,775
1,263	e	Cohen & Steers, Inc		32,800
9,932	*	Corrections Corp of America		272,832
162	*	Diamond Hill Investment Group, Inc		13,527
1,280	*	Duff & Phelps Corp		21,197
35,072	e*	E*Trade Financial Corp		110,126
8,382		Eaton Vance Corp		333,268
628	e	Evercore Partners, Inc (Class A)		5,966
2,000	e*	FBR Capital Markets Corp		10,060
1,864	e*	FCStone Group, Inc		52,062
7,130		Federated Investors, Inc (Class B)		245,415
12,794		Franklin Resources, Inc		1,172,570
465	e	GAMCO Investors, Inc (Class A)		23,073
4,668	e	GFI Group, Inc		42,059
32,259		Goldman Sachs Group, Inc		5,642,099
1,525	e	Greenhill & Co, Inc		82,137
3,331	e*	Interactive Brokers Group, Inc (Class A)		107,025
5,780	*	IntercontinentalExchange, Inc		658,920
32,501		Invesco Ltd		779,374
3,758	*	Investment Technology Group, Inc		125,743
13,643		Janus Capital Group, Inc		361,130
10,290	e	Jefferies Group, Inc		173,078
2,123	e*	KBW, Inc		43,691
7,726	*	Knight Capital Group, Inc (Class A)		138,913
8,719	e*	LaBranche & Co, Inc		61,731
7,157	e*	Ladenburg Thalmann Financial Services, Inc		10,807
4,291		Lazard Ltd (Class A)		146,538
11,367		Legg Mason, Inc		495,260
44,833	e	Lehman Brothers Holdings, Inc		888,142
2,236	e*	MarketAxess Holdings, Inc		16,904
80,305		Merrill Lynch & Co, Inc		2,546,471
7,330	e*	MF Global Ltd		46,252
90,292		Morgan Stanley		3,256,832

146

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
1,322	e*	Morningstar, Inc	$	95,224
11,082	e*	Nasdaq Stock Market, Inc		294,227
7,752	e	Nymex Holdings, Inc		654,889
21,698		NYSE Euronext		1,099,221
3,186	e	optionsXpress Holdings, Inc		71,175
940	e*	Penson Worldwide, Inc		11,233
1,448	e*	Piper Jaffray Cos		42,470
7,603	e	Raymond James Financial, Inc		200,643
730	e	Sanders Morris Harris Group, Inc		4,949
11,037		SEI Investments Co		259,590
1,626	*	Stifel Financial Corp		55,918
1,369	e	SWS Group, Inc		22,739
21,508		T Rowe Price Group, Inc		1,214,557
19,871	*	TD Ameritrade Holding Corp		359,466
1,572	e*	Thomas Weisel Partners Group, Inc		8,599
834	e	US Global Investors, Inc (Class A)		13,970
39		Value Line, Inc		1,297
7,106		Waddell & Reed Financial, Inc (Class A)		248,781
440		Westwood Holdings Group, Inc		17,512
		TOTAL SECURITY AND COMMODITY BROKERS		27,169,324
SOCIAL SERVICES - 0.01%
1,459	e*	Capital Senior Living Corp		11,001
889	e*	Providence Service Corp		18,767
1,945	*	Res-Care, Inc		34,582
		TOTAL SOCIAL SERVICES		64,350
SPECIAL TRADE CONTRACTORS - 0.08%
336	e	Alico, Inc		11,646
2,239	*	AsiaInfo Holdings, Inc		26,465
1,767	e	Chemed Corp		64,690
3,012		Comfort Systems USA, Inc		40,481
4,077	*	Dycom Industries, Inc		59,198
5,364	*	EMCOR Group, Inc		153,035
1,805	e*	Insituform Technologies, Inc (Class A)		27,490
1,031	e*	Integrated Electrical Services, Inc		17,733
1,410	e*	Layne Christensen Co		61,744
13,886	*	Quanta Services, Inc		461,987
		TOTAL SPECIAL TRADE CONTRACTORS		924,469
STONE, CLAY, AND GLASS PRODUCTS - 0.46%
57,630		3M Co		4,010,472
2,382	e	Apogee Enterprises, Inc		38,493
2,375	e*	Cabot Microelectronics Corp		78,731
1,956	e	CARBO Ceramics, Inc		114,133
3,422	e	Eagle Materials, Inc		86,679
12,021		Gentex Corp		173,583
1,024	e	Libbey, Inc		7,619
6,246	e*	Owens Corning, Inc		142,097
13,571	*	Owens-Illinois, Inc		565,775
5,438	e*	US Concrete, Inc		25,885
5,506	e*	USG Corp		162,812
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		5,406,279

147

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
TEXTILE MILL PRODUCTS - 0.00%**
988	e	Oxford Industries, Inc	$	18,920
1,030	e*	Xerium Technologies, Inc		4,079
		TOTAL TEXTILE MILL PRODUCTS		22,999
TOBACCO PRODUCTS - 1.17%
171,391		Altria Group, Inc		3,523,799
13,939	*	Lorillard, Inc		964,021
172,322		Philip Morris International, Inc		8,511,034
2,323	e	Universal Corp		105,046
12,103		UST, Inc		660,945
2,667	e	Vector Group Ltd		43,019
		TOTAL TOBACCO PRODUCTS		13,807,864
TRANSPORTATION BY AIR - 0.32%
1,158	e*	Air Methods Corp		28,950
7,375	e*	Airtran Holdings, Inc		15,045
2,676	e*	Alaska Air Group, Inc		41,050
1,100	*	Allegiant Travel Co		20,449
21,488	e*	AMR Corp		110,019
1,128	*	Atlas Air Worldwide Holdings, Inc		55,791
1,954	*	Bristow Group, Inc		96,703
7,366	e*	Continental Airlines, Inc (Class B)		74,470
2,441	e	Copa Holdings S.A. (Class A)		68,737
24,088	*	Delta Air Lines, Inc		137,302
25,005		FedEx Corp		1,970,144
3,288	*	Hawaiian Holdings, Inc		22,852
15,904	e*	JetBlue Airways Corp		59,322
21,437	*	Northwest Airlines Corp		142,770
922	e*	PHI, Inc		37,037
2,859	*	Republic Airways Holdings, Inc		24,759
5,499	e	Skywest, Inc		69,562
58,701		Southwest Airlines Co		765,461
10,718	e	UAL Corp		55,948
6,653	e*	US Airways Group, Inc		16,633
		TOTAL TRANSPORTATION BY AIR		3,813,004
TRANSPORTATION EQUIPMENT - 2.20%
2,020	e	A.O. Smith Corp		66,317
3,346	e*	AAR Corp		45,271
1,900	e*	Accuride Corp		8,075
1,480	e*	Aerovironment, Inc		40,226
3,270	e	American Axle & Manufacturing Holdings, Inc		26,127
668	e	American Railcar Industries, Inc		11,209
1,552	e*	Amerigon, Inc		11,035
6,046	e	ArvinMeritor, Inc		75,454
1,854	*	ATC Technology Corp		43,161
5,942		Autoliv, Inc		277,016
7,275	*	BE Aerospace, Inc		169,435
61,490		Boeing Co		4,041,123
6,439	e	Brunswick Corp		68,253
4,188		Clarcor, Inc		146,999
1,776	e*	Cogo Group, Inc		16,179
8,123	*	Dana Holding Corp		43,458

148

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
869		Ducommun, Inc	$	19,952
3,326	e	Federal Signal Corp		39,912
9,703	e*	Fleetwood Enterprises, Inc		25,422
6,538	e*	Force Protection, Inc		21,641
176,514	e*	Ford Motor Co		849,032
872	e	Freightcar America, Inc		30,956
1,005	*	Fuel Systems Solutions, Inc		38,693
4,586	e*	GenCorp, Inc		32,836
32,610		General Dynamics Corp		2,745,762
39,447	e	General Motors Corp		453,641
691	e*	GenTek, Inc		18,581
13,405		Genuine Parts Co		531,910
10,128		Goodrich Corp		480,675
908	e	Greenbrier Cos, Inc		18,433
1,661	e	Group 1 Automotive, Inc		33,004
19,343	e	Harley-Davidson, Inc		701,377
6,942		Harsco Corp		377,714
14,118	e*	Hayes Lemmerz International, Inc		40,095
2,398	e	Heico Corp		78,031
1,815		Kaman Corp		41,310
728	*	LMI Aerospace, Inc		12,791
26,908		Lockheed Martin Corp		2,654,743
27,987		Northrop Grumman Corp		1,872,330
5,052	*	Orbital Sciences Corp		119,025
6,187		Oshkosh Truck Corp		128,009
29,947		Paccar, Inc		1,252,683
10,406	*	Pactiv Corp		220,919
2,600	e	Polaris Industries, Inc		104,988
34,611		Raytheon Co		1,947,907
2,358	e	Spartan Motors, Inc		17,614
8,162	*	Spirit Aerosystems Holdings, Inc (Class A)		156,547
1,529	e	Superior Industries International, Inc		25,810
4,114	e*	Tenneco, Inc		55,662
2,904	e	Thor Industries, Inc		61,739
2,554	e*	TransDigm Group, Inc		85,789
6,428	e	Trinity Industries, Inc		222,987
1,523	e	Triumph Group, Inc		71,733
3,634	*	TRW Automotive Holdings Corp		67,120
79,640		United Technologies Corp		4,913,883
10,912	e*	Visteon Corp		28,699
4,482	e	Wabash National Corp		33,884
3,975		Westinghouse Air Brake Technologies Corp		193,265
2,357	e	Winnebago Industries, Inc		24,018
		TOTAL TRANSPORTATION EQUIPMENT		25,940,460
TRANSPORTATION SERVICES - 0.19%
1,389	e	Ambassadors Group, Inc		20,724
13,680		CH Robinson Worldwide, Inc		750,211
848	*	Dynamex, Inc		22,735
17,403		Expeditors International Washington, Inc		748,329
4,030		GATX Corp		178,650
3,009	*	HUB Group, Inc (Class A)		102,697
5,211	*	Lear Corp		73,892
2,400	e*	Orbitz Worldwide, Inc		12,024

149

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,524	e	Pacer International, Inc	$	54,291
3,469	e	Ship Finance International Ltd		102,440
8,773		UTI Worldwide, Inc		175,021
		TOTAL TRANSPORTATION SERVICES		2,241,014
TRUCKING AND WAREHOUSING - 0.39%
1,783	e	Arkansas Best Corp		65,329
1,550	*	Celadon Group, Inc		15,485
3,863		Con-way, Inc		182,565
2,398	e	Forward Air Corp		82,971
5,832	e	Heartland Express, Inc		86,955
6,690	e	J.B. Hunt Transport Services, Inc		222,643
4,495		Landstar System, Inc		248,214
868	*	Marten Transport Ltd		13,862
2,240	e*	Old Dominion Freight Line		67,245
1,124	*	Saia, Inc		12,274
55,964		United Parcel Service, Inc (Class B)		3,440,107
394	e*	Universal Truckload Services, Inc		8,676
3,306	e	Werner Enterprises, Inc		61,425
5,165	e*	YRC Worldwide, Inc		76,804
		TOTAL TRUCKING AND WAREHOUSING		4,584,555
WATER TRANSPORTATION - 0.28%
3,677	e	Alexander & Baldwin, Inc		167,487
4,816	e*	American Commercial Lines, Inc		52,639
985	e	Arlington Tankers Ltd		22,872
35,290		Carnival Corp		1,163,158
3,230		DHT Maritime, Inc		32,397
3,900	e	Eagle Bulk Shipping, Inc		115,323
3,883	e	Frontline Ltd		270,956
1,728	e	Genco Shipping & Trading Ltd		112,666
2,091	e	General Maritime Corp		54,324
2,545	e	Golar LNG Ltd		39,422
1,828	*	Gulfmark Offshore, Inc		106,353
2,450	e	Horizon Lines, Inc (Class A)		24,377
2,095	e*	Hornbeck Offshore Services, Inc		118,388
488	*	International Shipholding Corp		11,439
4,321	*	Kirby Corp		207,408
1,231		Knightsbridge Tankers Ltd		39,651
2,799	e	Nordic American Tanker Shipping		108,657
2,912	e*	Odyssey Marine Exploration, Inc		11,532
2,001	e	Overseas Shipholding Group, Inc		159,119
11,003	e	Royal Caribbean Cruises Ltd		247,237
810	e*	TBS International Ltd (Class A)		32,360
3,285	e	Teekay Corp		148,416
1,000	e	Teekay Tankers Ltd		23,210
2,606	e*	Ultrapetrol Bahamas Ltd		32,862
		TOTAL WATER TRANSPORTATION		3,302,253
WHOLESALE TRADE-DURABLE GOODS - 0.37%
2,311	e	Agilysys, Inc		26,207
4,008		Applied Industrial Technologies, Inc		96,873
9,621	*	Arrow Electronics, Inc		295,557
3,898	e	Barnes Group, Inc		90,005

150

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
2,934	e*	Beacon Roofing Supply, Inc	$	31,130
9,594		BorgWarner, Inc		425,782
990		Castle (A.M.) & Co		28,324
917	*	Chindex International, Inc		13,452
2,919	e*	Conceptus, Inc		53,972
1,647	*	DemandTec, Inc		12,369
1,588	*	Digi International, Inc		12,466
1,510	e*	Drew Industries, Inc		24,085
1,377	e*	Hansen Medical, Inc		23,023
1,040	e	Houston Wire & Cable Co		20,696
7,507		IKON Office Solutions, Inc		84,679
13,744	*	Ingram Micro, Inc (Class A)		243,956
4,534	*	Insight Enterprises, Inc		53,184
2,838	*	Interline Brands, Inc		45,209
4,680	e	Knight Transportation, Inc		85,644
299	e	Lawson Products, Inc		7,409
11,078	*	LKQ Corp		200,179
3,302	e	Martin Marietta Materials, Inc		342,054
1,200	*	MedAssets, Inc		20,460
847	*	MWI Veterinary Supply, Inc		28,044
3,496	e	Owens & Minor, Inc		159,732
10,538	*	Patterson Cos, Inc		309,712
3,421	e	PEP Boys-Manny Moe & Jack		29,831
3,769	e	Pool Corp		66,938
5,703	*	PSS World Medical, Inc		92,959
5,139		Reliance Steel & Aluminum Co		396,166
4,210	*	Solera Holdings, Inc		116,449
4,235	*	Tech Data Corp		143,524
593	*	Titan Machinery, Inc		18,573
3,352	e*	TomoTherapy, Inc		29,933
3,578	e*	Tyler Technologies, Inc		48,553
6,048		W.W. Grainger, Inc		494,727
3,476	*	WESCO International, Inc		139,179
		TOTAL WHOLESALE TRADE-DURABLE GOODS		4,311,035
WHOLESALE TRADE-NONDURABLE GOODS - 0.57%
2,028		Aceto Corp		15,494
6,695		Airgas, Inc		390,921
2,989	e*	Akorn, Inc		9,894
8,136	e*	Alliance One International, Inc		41,575
5,621	e	Allscripts Healthcare Solutions, Inc		69,757
1,516	e	Andersons, Inc		61,716
4,979	e*	Bare Escentuals, Inc		93,257
1,986	e*	BMP Sunstone Corp		11,320
6,810		Brown-Forman Corp (Class B)		514,632
29,197		Cardinal Health, Inc		1,505,981
3,097	*	Central European Distribution Corp		229,643
667	e*	Core-Mark Holding Co, Inc		17,475
11,100	*	Dean Foods Co		217,782
10,376	*	Endo Pharmaceuticals Holdings, Inc		250,995
3,422	e*	Fresh Del Monte Produce, Inc		80,657
1,632	e*	Green Mountain Coffee Roasters, Inc		61,314
3,462	e*	Hain Celestial Group, Inc		81,288
7,558	*	Henry Schein, Inc		389,766

151

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund
SHARES		COMPANY		VALUE
5,319	e	Herbalife Ltd	$	206,111
11,952	e	Idearc, Inc		28,087
669	e	Kenneth Cole Productions, Inc (Class A)		8,496
1,677	e	K-Swiss, Inc (Class A)		24,652
1,070	*	LSB Industries, Inc		21,186
136	e*	Maui Land & Pineapple Co, Inc		4,005
4,634	e	Men's Wearhouse, Inc		75,488
1,840	e	Myers Industries, Inc		14,996
816	e	Nash Finch Co		27,964
5,040		Nu Skin Enterprises, Inc (Class A)		75,197
887	*	Perry Ellis International, Inc		18,822
1,699	e*	School Specialty, Inc		50,511
1,784		Spartan Stores, Inc		41,032
856	*	Synutra International, Inc		27,666
49,150		Sysco Corp		1,352,117
7,378		Terra Industries, Inc		364,104
2,710	e*	Tractor Supply Co		78,698
3,635	e*	United Natural Foods, Inc		70,810
2,146	*	United Stationers, Inc		79,295
356	e	Valhi, Inc		9,701
1,324	e*	Volcom, Inc		31,683
1,682	e	Zep, Inc		25,028
1,463	*	Zhongpin, Inc		18,288
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		6,697,404
		TOTAL COMMON STOCKS		1,155,276,851
		(Cost $979,967,308)
SHORT TERM INVESTMENTS - 11.91%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.66%
$      19,540,000		Federal Home Loan Bank Discount Notes, 0.000%, 07/01/08		19,540,000
				19,540,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 10.25%
120,700,364		State Street Navigator Securities Lending Prime Portfolio		120,700,364
				120,700,364
		TOTAL SHORT-TERM INVESTMENTS		140,240,364
		(Cost $140,240,364)
		TOTAL PORTFOLIO - 110.01%		1,295,517,215
		(Cost $1,120,207,672)
		OTHER ASSETS & LIABILITIES, NET - (10.01)%		(117,873,257	)
		NET ASSETS - 100.00%	$	1,177,643,958

152

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Equity Index Fund

	The following abbreviations are used in portfolio descriptions:
	REIT  -  Real Estate Investment Trust
*	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 $2,376,864.
e	All or a portion of these securities are out on loan
m	Indicates a security that has been deemed illiquid.
v	Security valued at fair value.
	At June 30, 2008, the unrealized appreciation on investments was $175,309,543, consisting of
	gross unrealized appreciation of $304,666,832 and gross unrealized depreciation of $129,357,289.

OPEN FUTURES	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
CONTRACTS:	CONTRACTS	VALUE	DATE	(DEPRECIATION)
E-mini S&P 500 Index	235	$ 15,052,925	September 2008	$	(523,371)
E-mini S&P 400 Index	24	1,970,880	September 2008		(69,176)
E-mini Russell 2000 Index	29	2,005,930	September 2008		(65,840)
				$	(658,387)

153

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
S&P 500 INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.50%
AMUSEMENT AND RECREATION SERVICES - 0.52%
191,170		Walt Disney Co	$	5,964,504
		TOTAL AMUSEMENT AND RECREATION SERVICES		5,964,504
APPAREL AND ACCESSORY STORES - 0.31%
8,900		Abercrombie & Fitch Co (Class A)		557,852
44,337		Gap, Inc		739,098
30,015	*	Kohl's Corp		1,201,801
30,870		Limited Brands, Inc		520,159
18,413	e	Nordstrom, Inc		557,914
		TOTAL APPAREL AND ACCESSORY STORES		3,576,824
APPAREL AND OTHER TEXTILE PRODUCTS - 0.11%
8,603		Jones Apparel Group, Inc		118,291
11,126	e	Liz Claiborne, Inc		157,433
5,380	e	Polo Ralph Lauren Corp		337,756
8,973		VF Corp		638,698
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,252,178
AUTO REPAIR, SERVICES AND PARKING - 0.04%
5,810		Ryder System, Inc		400,193
		TOTAL AUTO REPAIR, SERVICES AND PARKING		400,193
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.06%
12,820	e*	Autonation, Inc		128,456
4,368	*	Autozone, Inc		528,572
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		657,028
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.62%
170,249		Home Depot, Inc		3,987,232
146,918		Lowe's Cos, Inc		3,048,548
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		7,035,780
BUSINESS SERVICES - 6.56%
53,363	*	Adobe Systems, Inc		2,101,969
9,992	*	Affiliated Computer Services, Inc (Class A)		534,472
17,500	e*	Akamai Technologies, Inc		608,825
22,734	*	Autodesk, Inc		768,637
51,999		Automatic Data Processing, Inc		2,178,758
19,094	*	BMC Software, Inc		687,384
39,168		CA, Inc		904,389
18,521	*	Citrix Systems, Inc		544,703
29,000	*	Cognizant Technology Solutions Corp (Class A)		942,790
15,806	*	Computer Sciences Corp		740,353
26,698	*	Compuware Corp		254,699
13,106	*	Convergys Corp		194,755

154

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
110,883	*	eBay, Inc	$	3,030,432
31,709	*	Electronic Arts, Inc		1,408,831
50,450		Electronic Data Systems Corp		1,243,088
13,205		Equifax, Inc		443,952
20,500	*	Expedia, Inc		376,790
16,600		Fidelity National Information Services, Inc		612,706
16,595	*	Fiserv, Inc		752,915
23,266	*	Google, Inc (Class A)		12,247,688
18,817		IMS Health, Inc		438,436
47,401	*	Interpublic Group of Cos, Inc		407,649
31,764	*	Intuit, Inc		875,733
52,423	*	Juniper Networks, Inc		1,162,742
803,658	d	Microsoft Corp		22,108,632
11,892	*	Monster Worldwide, Inc		245,094
38,250	*	Novell, Inc		225,292
32,064		Omnicom Group, Inc		1,439,032
398,002	*	Oracle Corp		8,358,042
14,885		Robert Half International, Inc		356,793
79,398	*	Sun Microsystems, Inc		863,850
85,415	*	Symantec Corp		1,652,780
19,600		Total System Services, Inc		435,512
42,243	*	Unisys Corp		166,860
19,892	e*	VeriSign, Inc		751,918
49,261		Waste Management, Inc		1,857,632
138,040	*	Yahoo!, Inc		2,851,906
		TOTAL BUSINESS SERVICES		74,776,039
CHEMICALS AND ALLIED PRODUCTS - 9.86%
154,834		Abbott Laboratories		8,201,557
21,453		Air Products & Chemicals, Inc		2,120,844
109,237	*	Amgen, Inc		5,151,617
10,474		Avery Dennison Corp		460,123
42,836		Avon Products, Inc		1,542,953
10,837	*	Barr Pharmaceuticals, Inc		488,532
29,379	*	Biogen Idec, Inc		1,641,992
198,669		Bristol-Myers Squibb Co		4,078,675
13,764		Clorox Co		718,481
50,905		Colgate-Palmolive Co		3,517,535
93,323		Dow Chemical Co		3,257,906
90,373		Du Pont (E.I.) de Nemours & Co		3,876,098
7,516		Eastman Chemical Co		517,552
18,050		Ecolab, Inc		775,969
99,265		Eli Lilly & Co		4,582,072
11,427	e	Estee Lauder Cos (Class A)		530,784
31,036	*	Forest Laboratories, Inc		1,078,191
26,702	*	Genzyme Corp		1,923,078
92,544	*	Gilead Sciences, Inc		4,900,205
11,058		Hercules, Inc		187,212
16,876	*	Hospira, Inc		676,896
8,423		International Flavors & Fragrances, Inc		329,002
24,091	*	King Pharmaceuticals, Inc		252,233
215,391		Merck & Co, Inc		8,118,087
55,017		Monsanto Co		6,956,349
31,176	e	Mylan Laboratories, Inc		376,294

155

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
678,847		Pfizer, Inc	$	11,859,457
16,628		PPG Industries, Inc		953,948
31,421		Praxair, Inc		2,961,115
306,314		Procter & Gamble Co		18,626,954
13,072		Rohm & Haas Co		607,064
162,748		Schering-Plough Corp		3,204,508
9,485	e	Sherwin-Williams Co		435,646
13,300		Sigma-Aldrich Corp		716,338
10,903	*	Watson Pharmaceuticals, Inc		296,235
133,737		Wyeth		6,414,027
		TOTAL CHEMICALS AND ALLIED PRODUCTS		112,335,529
COAL MINING - 0.46%
18,335		Consol Energy, Inc		2,060,304
8,084		Massey Energy Co		757,875
27,200		Peabody Energy Corp		2,394,960
		TOTAL COAL MINING		5,213,139
COMMUNICATIONS - 4.11%
39,800	*	American Tower Corp (Class A)		1,681,550
596,080		AT&T, Inc		20,081,935
11,191	*	CenturyTel, Inc		398,288
29,970	e	Citizens Communications Co		339,860
49,981		Clear Channel Communications, Inc		1,759,331
297,131		Comcast Corp (Class A)		5,636,575
71,300	*	DIRECTV Group, Inc		1,847,383
15,011		Embarq Corp		709,570
16,900	*	IAC/InterActiveCorp		325,832
152,937	e	Qwest Communications International, Inc		601,042
286,124		Sprint Nextel Corp		2,718,178
286,034		Verizon Communications, Inc		10,125,604
46,503	e	Windstream Corp		573,847
		TOTAL COMMUNICATIONS		46,798,995
DEPOSITORY INSTITUTIONS - 6.01%
446,847		Bank of America Corp		10,666,238
114,751		Bank of New York Mellon Corp		4,341,030
54,909	e	BB&T Corp		1,250,278
546,330		Citigroup, Inc		9,156,491
13,704	e	Comerica, Inc		351,234
57,664	e	Fifth Third Bancorp		587,020
18,723	e	First Horizon National Corp		139,112
52,100		Hudson City Bancorp, Inc		869,028
39,997	e	Huntington Bancshares, Inc		230,783
346,455		JPMorgan Chase & Co		11,886,871
46,122	e	Keycorp		506,420
7,906	e	M&T Bank Corp		557,689
25,086	e	Marshall & Ilsley Corp		384,568
78,726	e	National City Corp		375,523
19,153		Northern Trust Corp		1,313,321
34,717		PNC Financial Services Group, Inc		1,982,341
66,363	e	Regions Financial Corp		724,020
49,372	e	Sovereign Bancorp, Inc		363,378
42,790		State Street Corp		2,738,132

156

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
35,323		SunTrust Banks, Inc	$	1,279,399
174,627		US Bancorp		4,870,347
214,561		Wachovia Corp		3,332,132
108,178	e	Washington Mutual, Inc		533,318
331,417		Wells Fargo & Co		7,871,154
74,223		Western Union Co		1,834,793
10,419	e	Zions Bancorporation		328,094
		TOTAL DEPOSITORY INSTITUTIONS		68,472,714
EATING AND DRINKING PLACES - 0.87%
14,269		Darden Restaurants, Inc		455,752
113,727		McDonald's Corp		6,393,732
73,055	*	Starbucks Corp		1,149,886
8,327		Wendy's International, Inc		226,661
47,554		Yum! Brands, Inc		1,668,670
		TOTAL EATING AND DRINKING PLACES		9,894,701
EDUCATIONAL SERVICES - 0.06%
14,280	*	Apollo Group, Inc (Class A)		632,033
		TOTAL EDUCATIONAL SERVICES		632,033
ELECTRIC, GAS, AND SANITARY SERVICES - 4.30%
67,427	*	AES Corp		1,295,273
17,046		Allegheny Energy, Inc		854,175
33,813	*	Allied Waste Industries, Inc		426,720
21,133		Ameren Corp		892,447
40,312		American Electric Power Co, Inc		1,621,752
31,878		Centerpoint Energy, Inc		511,642
22,565		CMS Energy Corp		336,218
27,292	e	Consolidated Edison, Inc		1,066,844
17,900		Constellation Energy Group, Inc		1,469,590
57,990		Dominion Resources, Inc		2,753,945
16,901		DTE Energy Co		717,278
126,930		Duke Energy Corp		2,206,043
45,758	*	Dynegy, Inc (Class A)		391,231
32,696		Edison International		1,679,920
70,490		El Paso Corp		1,532,453
19,179		Entergy Corp		2,310,686
65,815		Exelon Corp		5,920,717
30,562		FirstEnergy Corp		2,516,169
40,884		FPL Group, Inc		2,681,173
7,976	e	Integrys Energy Group, Inc		405,420
4,870	e	Nicor, Inc		207,413
27,539		NiSource, Inc		493,499
19,800		Pepco Holdings, Inc		507,870
35,786		PG&E Corp		1,420,346
10,562		Pinnacle West Capital Corp		324,993
37,439		PPL Corp		1,956,937
26,141		Progress Energy, Inc		1,093,478
51,016		Public Service Enterprise Group, Inc		2,343,165
17,400		Questar Corp		1,236,096
25,790		Sempra Energy		1,455,846
76,948		Southern Co		2,687,024
21,139	e	TECO Energy, Inc		454,277

157

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
58,633		Williams Cos, Inc	$	2,363,496
43,195		Xcel Energy, Inc		866,924
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		49,001,060
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.50%
62,039	e*	Advanced Micro Devices, Inc		361,687
30,097		Altera Corp		623,008
29,089		Analog Devices, Inc		924,158
88,461	*	Apple Computer, Inc		14,811,910
44,880	*	Broadcom Corp (Class A)		1,224,775
8,158	e*	Ciena Corp		189,021
592,718	*	Cisco Systems, Inc		13,786,621
17,460		Cooper Industries Ltd (Class A)		689,670
16,488		Eaton Corp		1,400,985
6,324		Harman International Industries, Inc		261,750
74,339		Honeywell International, Inc		3,737,765
573,727		Intel Corp		12,323,656
21,704	e*	JDS Uniphase Corp		246,557
12,267		L-3 Communications Holdings, Inc		1,114,702
22,255	e	Linear Technology Corp		724,845
63,144	e*	LSI Logic Corp		387,704
22,800	*	MEMC Electronic Materials, Inc		1,403,112
18,600	e	Microchip Technology, Inc		568,044
75,564	*	Micron Technology, Inc		453,384
14,291	e	Molex, Inc		348,843
226,440		Motorola, Inc		1,662,070
21,800		National Semiconductor Corp		447,772
34,982	*	NetApp, Inc		757,710
10,132	e*	Novellus Systems, Inc		214,697
55,643	*	Nvidia Corp		1,041,637
13,080	e*	QLogic Corp		190,837
162,375		Qualcomm, Inc		7,204,579
15,566		RadioShack Corp		190,995
38,762	e*	Tellabs, Inc		180,243
132,669		Texas Instruments, Inc		3,735,959
47,896		Tyco Electronics Ltd		1,715,635
7,497	e	Whirlpool Corp		462,790
28,373		Xilinx, Inc		716,418
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		74,103,539
ENGINEERING AND MANAGEMENT SERVICES - 0.70%
44,139	*	Celgene Corp		2,819,158
9,131		Fluor Corp		1,699,096
12,200	*	Jacobs Engineering Group, Inc		984,540
20,349	e	Moody's Corp		700,820
32,797		Paychex, Inc		1,025,890
16,137	e	Quest Diagnostics, Inc		782,160
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		8,011,664
FABRICATED METAL PRODUCTS - 0.37%
10,309		Ball Corp		492,152
39,860		Illinois Tool Works, Inc		1,893,749
16,824		Parker Hannifin Corp		1,199,888
5,526		Snap-On, Inc		287,407

158

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
7,534		Stanley Works	$	337,749
		TOTAL FABRICATED METAL PRODUCTS		4,210,945
FOOD AND KINDRED PRODUCTS - 3.93%
71,564		Anheuser-Busch Cos, Inc		4,445,556
64,550		Archer Daniels Midland Co		2,178,563
21,823		Campbell Soup Co		730,198
200,384		Coca-Cola Co		10,415,960
29,951		Coca-Cola Enterprises, Inc		518,152
48,901		ConAgra Foods, Inc		942,811
19,790	*	Constellation Brands, Inc (Class A)		393,029
33,590		General Mills, Inc		2,041,264
31,637		H.J. Heinz Co		1,513,830
16,535	e	Hershey Co		542,017
26,057		Kellogg Co		1,251,257
152,126		Kraft Foods, Inc (Class A)		4,327,985
12,957		McCormick & Co, Inc		462,047
13,984		Molson Coors Brewing Co (Class B)		759,751
13,908		Pepsi Bottling Group, Inc		388,311
159,118		PepsiCo, Inc		10,118,314
17,261		Reynolds American, Inc		805,571
71,672		Sara Lee Corp		877,982
27,871		Tyson Foods, Inc (Class A)		416,393
21,459		Wrigley (Wm.) Jr Co		1,669,081
		TOTAL FOOD AND KINDRED PRODUCTS		44,798,072
FOOD STORES - 0.37%
66,420		Kroger Co		1,917,545
43,957		Safeway, Inc		1,254,972
21,900	*	Supervalu, Inc		676,491
14,473	e	Whole Foods Market, Inc		342,865
		TOTAL FOOD STORES		4,191,873
FORESTRY - 0.10%
21,217		Weyerhaeuser Co		1,085,037
		TOTAL FORESTRY		1,085,037
FURNITURE AND FIXTURES - 0.22%
59,496		Johnson Controls, Inc		1,706,345
16,173	e	Leggett & Platt, Inc		271,221
36,271		Masco Corp		570,543
		TOTAL FURNITURE AND FIXTURES		2,548,109
FURNITURE AND HOME FURNISHINGS STORES - 0.12%
25,245	e*	Bed Bath & Beyond, Inc		709,385
16,300	*	GameStop Corp (Class A)		658,520
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		1,367,905
GENERAL BUILDING CONTRACTORS - 0.09%
13,066		Centex Corp		174,692
28,206	e	DR Horton, Inc		306,035
9,500	e	KB Home		160,835
14,231	e	Lennar Corp (Class A)		175,611

159

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
22,648	e	Pulte Homes, Inc	$	218,100
		TOTAL GENERAL BUILDING CONTRACTORS		1,035,273
GENERAL MERCHANDISE STORES - 2.05%
9,215	e*	Big Lots, Inc		287,877
43,458		Costco Wholesale Corp		3,048,144
6,283	e	Dillard's, Inc (Class A)		72,694
13,353		Family Dollar Stores, Inc		266,259
22,259		JC Penney Co, Inc		807,779
41,487		Macy's, Inc		805,678
78,103		Target Corp		3,631,008
43,088		TJX Cos, Inc		1,355,979
233,446		Wal-Mart Stores, Inc		13,119,665
		TOTAL GENERAL MERCHANDISE STORES		23,395,083
HEALTH SERVICES - 0.98%
16,263		AmerisourceBergen Corp		650,357
28,120		Cigna Corp		995,167
15,049	*	Coventry Health Care, Inc		457,791
25,674	*	Express Scripts, Inc		1,610,273
11,325	*	Laboratory Corp of America Holdings		788,560
27,638		McKesson Corp		1,545,241
50,742	*	Medco Health Solutions, Inc		2,395,022
45,498	e*	Tenet Healthcare Corp		252,969
52,809	*	WellPoint, Inc		2,516,877
		TOTAL HEALTH SERVICES		11,212,257
HOLDING AND OTHER INVESTMENT OFFICES - 2.27%
9,167	e	Apartment Investment & Management Co (Class A)		312,228
7,700	e	AvalonBay Communities, Inc		686,532
12,010	e	Boston Properties, Inc		1,083,542
12,200		Developers Diversified Realty Corp		423,462
27,152		Equity Residential		1,039,107
26,800	e	General Growth Properties, Inc		938,804
23,700	e	HCP, Inc		753,897
50,100		Host Marriott Corp		683,865
25,430	e	Kimco Realty Corp		877,844
16,965	e	Plum Creek Timber Co, Inc		724,575
26,325		Prologis		1,430,764
12,406		Public Storage, Inc		1,002,281
22,515		Simon Property Group, Inc		2,023,873
99,193	e	SPDR Trust Series 1		12,694,720
13,568		Vornado Realty Trust		1,193,984
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		25,869,478
HOTELS AND OTHER LODGING PLACES - 0.16%
30,092		Marriott International, Inc (Class A)		789,614
18,104		Starwood Hotels & Resorts Worldwide, Inc		725,427
18,039		Wyndham Worldwide Corp		323,078
		TOTAL HOTELS AND OTHER LODGING PLACES		1,838,119
INDUSTRIAL MACHINERY AND EQUIPMENT - 7.16%
135,996		Applied Materials, Inc		2,596,164
6,431	e	Black & Decker Corp		369,847
61,670		Caterpillar, Inc		4,552,479

160

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
20,352		Cummins, Inc	$	1,333,463
43,180		Deere & Co		3,114,573
202,766	*	Dell, Inc		4,436,520
18,939		Dover Corp		916,079
207,495	*	EMC Corp		3,048,102
1,000,184		General Electric Co		26,694,911
247,428		Hewlett-Packard Co		10,938,792
31,897		Ingersoll-Rand Co Ltd (Class A)		1,193,905
137,755		International Business Machines Corp		16,328,100
31,387		International Game Technology		784,047
18,242		ITT Industries, Inc		1,155,266
21,879		Jabil Circuit, Inc		359,034
8,825	*	Lexmark International, Inc (Class A)		295,020
12,900		Manitowoc Co, Inc		419,637
12,140		Pall Corp		481,715
14,226		Rockwell Automation, Inc		622,103
22,460	*	SanDisk Corp		420,002
18,184	*	Teradata Corp		420,778
9,900	*	Terex Corp		508,563
12,600	*	Varian Medical Systems, Inc		653,310
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		81,642,410
INSTRUMENTS AND RELATED PRODUCTS - 5.05%
36,095	*	Agilent Technologies, Inc		1,282,816
30,826		Allergan, Inc		1,604,493
17,665		Applied Biosystems, Inc		591,424
10,269		Bard (C.R.), Inc		903,159
62,902		Baxter International, Inc		4,021,954
24,458		Becton Dickinson & Co		1,988,435
135,182	*	Boston Scientific Corp		1,661,387
49,996		Covidien Ltd		2,394,308
25,492		Danaher Corp		1,970,532
28,885	e	Eastman Kodak Co		416,811
78,300		Emerson Electric Co		3,871,935
3,900	*	Intuitive Surgical, Inc		1,050,660
282,800		Johnson & Johnson		18,195,352
17,490		Kla-Tencor Corp		712,018
112,612		Medtronic, Inc		5,827,671
5,677	*	Millipore Corp		385,241
12,503		PerkinElmer, Inc		348,209
20,926		Pitney Bowes, Inc		713,577
16,642		Rockwell Collins, Inc		798,150
34,004	*	St. Jude Medical, Inc		1,390,084
23,943		Stryker Corp		1,505,536
15,441	*	Teradyne, Inc		170,932
41,952	*	Thermo Electron Corp		2,337,985
10,068	*	Waters Corp		649,386
90,747		Xerox Corp		1,230,529
23,197	*	Zimmer Holdings, Inc		1,578,556
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		57,601,140
INSURANCE AGENTS, BROKERS AND SERVICE - 0.42%
30,163		AON Corp		1,385,688
31,525		Hartford Financial Services Group, Inc		2,035,569

161

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
51,405		Marsh & McLennan Cos, Inc	$	1,364,803
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		4,786,060
INSURANCE CARRIERS - 3.65%
33,405	*	ACE Ltd		1,840,281
48,668		Aetna, Inc		1,972,514
47,654		Aflac, Inc		2,992,671
55,284		Allstate Corp		2,520,398
269,828		American International Group, Inc		7,139,649
10,000		Assurant, Inc		659,600
36,696		Chubb Corp		1,798,471
15,949		Cincinnati Financial Corp		405,105
43,404		Genworth Financial, Inc (Class A)		773,025
17,528	*	Humana, Inc		697,089
17,700	e	Leucadia National Corp		830,838
26,187		Lincoln National Corp		1,186,795
36,346	e	Loews Corp		1,704,627
27,325	e	MBIA, Inc		119,957
71,293		Metlife, Inc		3,762,132
16,330	e	MGIC Investment Corp		99,776
25,917		Principal Financial Group		1,087,736
68,003		Progressive Corp		1,273,016
43,688		Prudential Financial, Inc		2,609,921
9,275		Safeco Corp		622,909
9,211		Torchmark Corp		540,225
60,629		Travelers Cos, Inc		2,631,299
123,283		UnitedHealth Group, Inc		3,236,179
34,714		UnumProvident Corp		709,901
17,902		XL Capital Ltd (Class A)		368,065
		TOTAL INSURANCE CARRIERS		41,582,179
LEATHER AND LEATHER PRODUCTS - 0.08%
33,446	*	Coach, Inc		965,920
		TOTAL LEATHER AND LEATHER PRODUCTS		965,920
METAL MINING - 0.60%
38,406		Freeport-McMoRan Copper & Gold, Inc (Class B)		4,500,799
45,457		Newmont Mining Corp		2,371,037
		TOTAL METAL MINING		6,871,836
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.35%
15,389		Fortune Brands, Inc		960,427
14,366		Hasbro, Inc		513,154
36,300		Mattel, Inc		621,456
48,396		Tyco International Ltd		1,937,776
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		4,032,813
MISCELLANEOUS RETAIL - 1.37%
30,987	*	Amazon.com, Inc		2,272,277
34,676		Best Buy Co, Inc		1,373,170
143,430		CVS Corp		5,675,525
28,182	*	Office Depot, Inc		308,311
7,081	e*	Sears Holdings Corp		521,586
70,464		Staples, Inc		1,673,520

162

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
12,387	e	Tiffany & Co	$	504,770
99,351		Walgreen Co		3,229,901
		TOTAL MISCELLANEOUS RETAIL		15,559,060
MOTION PICTURES - 1.06%
68,382		CBS Corp (Class B)		1,332,765
231,094		News Corp (Class A)		3,475,654
359,052		Time Warner, Inc		5,313,970
63,491	*	Viacom, Inc (Class B)		1,939,015
		TOTAL MOTION PICTURES		12,061,404
NONDEPOSITORY INSTITUTIONS - 1.11%
20,300		American Capital Ltd		482,531
116,189		American Express Co		4,376,840
37,569	e	Capital One Financial Corp		1,427,998
28,390	e	CIT Group, Inc		193,336
62,720		Countrywide Financial Corp		266,560
48,716		Discover Financial Services		641,590
106,799	*	Fannie Mae		2,083,648
64,930		Freddie Mac		1,064,852
46,934	*	SLM Corp		908,173
24,980		Textron, Inc		1,197,291
		TOTAL NONDEPOSITORY INSTITUTIONS		12,642,819
NONMETALLIC MINERALS, EXCEPT FUELS - 0.05%
10,395	e	Vulcan Materials Co		621,413
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		621,413
OIL AND GAS EXTRACTION - 4.71%
46,944		Anadarko Petroleum Corp		3,513,289
30,877		Baker Hughes, Inc		2,696,797
29,487		BJ Services Co		941,815
21,800	*	Cameron International Corp		1,206,630
48,255	e	Chesapeake Energy Corp		3,182,900
14,900		ENSCO International, Inc		1,203,026
87,539		Halliburton Co		4,645,695
28,221	e*	Nabors Industries Ltd		1,389,320
41,634	*	National Oilwell Varco, Inc		3,693,768
26,946		Noble Corp		1,750,412
15,500		Range Resources Corp		1,015,870
11,201		Rowan Cos, Inc		523,647
119,702		Schlumberger Ltd		12,859,586
20,097		Smith International, Inc		1,670,865
34,300	*	Southwestern Energy Co		1,633,023
31,961		Transocean, Inc		4,870,537
68,188	*	Weatherford International Ltd		3,381,443
51,207		XTO Energy, Inc		3,508,192
		TOTAL OIL AND GAS EXTRACTION		53,686,815
PAPER AND ALLIED PRODUCTS - 0.36%
9,361	e	Bemis Co		209,874
42,866		International Paper Co		998,778
41,961		Kimberly-Clark Corp		2,508,429

163

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
16,791	e	MeadWestvaco Corp	$	400,297
		TOTAL PAPER AND ALLIED PRODUCTS		4,117,378
PERSONAL SERVICES - 0.09%
12,231		Cintas Corp		324,244
33,345		H&R Block, Inc		713,583
		TOTAL PERSONAL SERVICES		1,037,827
PETROLEUM AND COAL PRODUCTS - 10.30%
33,406		Apache Corp		4,643,434
5,690		Ashland, Inc		274,258
9,932		Cabot Oil & Gas Corp		672,694
207,521		Chevron Corp		20,571,557
154,768		ConocoPhillips		14,608,552
44,721		Devon Energy Corp		5,373,675
24,833		EOG Resources, Inc		3,258,090
530,122		Exxon Mobil Corp		46,719,652
28,167		Hess Corp		3,554,394
70,984		Marathon Oil Corp		3,681,940
19,081		Murphy Oil Corp		1,870,892
17,700		Noble Energy, Inc		1,779,912
82,363		Occidental Petroleum Corp		7,401,139
11,465	e	Sunoco, Inc		466,511
14,800	e	Tesoro Corp		292,596
52,972		Valero Energy Corp		2,181,387
		TOTAL PETROLEUM AND COAL PRODUCTS		117,350,683
PIPELINES, EXCEPT NATURAL GAS - 0.16%
63,465		Spectra Energy Corp		1,823,984
		TOTAL PIPELINES, EXCEPT NATURAL GAS		1,823,984
PRIMARY METAL INDUSTRIES - 1.23%
11,289		AK Steel Holding Corp		778,941
81,576		Alcoa, Inc		2,905,737
9,985	e	Allegheny Technologies, Inc		591,911
158,015		Corning, Inc		3,642,246
31,441		Nucor Corp		2,347,699
13,900		Precision Castparts Corp		1,339,543
10,500	e	Titanium Metals Corp		146,895
12,039		United States Steel Corp		2,224,566
		TOTAL PRIMARY METAL INDUSTRIES		13,977,538
PRINTING AND PUBLISHING - 0.30%
9,155	e*	EW Scripps Co (Class A)		380,299
23,000		Gannett Co, Inc		498,410
32,262		McGraw-Hill Cos, Inc		1,294,351
3,486	e	Meredith Corp		98,619
14,063	e	New York Times Co (Class A)		216,430
20,695		R.R. Donnelley & Sons Co		614,435
550		Washington Post Co (Class B)		322,795
		TOTAL PRINTING AND PUBLISHING		3,425,339
RAILROAD TRANSPORTATION - 1.03%
29,429		Burlington Northern Santa Fe Corp		2,939,663
40,548		CSX Corp		2,546,820

164

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
37,700		Norfolk Southern Corp	$	2,362,659
51,864		Union Pacific Corp		3,915,732
		TOTAL RAILROAD TRANSPORTATION		11,764,874
REAL ESTATE - 0.03%
17,800	e*	CB Richard Ellis Group, Inc (Class A)		341,760
		TOTAL REAL ESTATE		341,760
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.30%
23,304	*	Goodyear Tire & Rubber Co		415,510
27,787		Newell Rubbermaid, Inc		466,544
38,032		Nike, Inc (Class B)		2,267,088
16,796		Sealed Air Corp		319,292
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		3,468,434
SECURITY AND COMMODITY BROKERS - 2.36%
22,306		Ameriprise Financial, Inc		907,185
93,169		Charles Schwab Corp		1,913,691
5,474	*	CME Group, Inc		2,097,582
53,511	e*	E*Trade Financial Corp		168,025
8,616		Federated Investors, Inc (Class B)		296,563
15,574		Franklin Resources, Inc		1,427,357
39,481		Goldman Sachs Group, Inc		6,905,227
7,200	*	IntercontinentalExchange, Inc		820,800
14,086		Janus Capital Group, Inc		372,856
14,109		Legg Mason, Inc		614,729
69,946	e	Lehman Brothers Holdings, Inc		1,385,630
98,807		Merrill Lynch & Co, Inc		3,133,170
111,033		Morgan Stanley		4,004,960
26,600		NYSE Euronext		1,347,556
25,971		T Rowe Price Group, Inc		1,466,582
		TOTAL SECURITY AND COMMODITY BROKERS		26,861,913
STONE, CLAY, AND GLASS PRODUCTS - 0.43%
70,686		3M Co		4,919,039
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		4,919,039
TOBACCO PRODUCTS - 1.47%
210,117		Altria Group, Inc		4,320,006
17,381	*	Lorillard, Inc		1,202,070
211,617		Philip Morris International, Inc		10,451,764
15,203		UST, Inc		830,236
		TOTAL TOBACCO PRODUCTS		16,804,076
TRANSPORTATION BY AIR - 0.30%
31,109		FedEx Corp		2,451,078
73,441		Southwest Airlines Co		957,671
		TOTAL TRANSPORTATION BY AIR		3,408,749
TRANSPORTATION EQUIPMENT - 2.46%
75,355		Boeing Co		4,952,331
225,158	e*	Ford Motor Co		1,083,010
39,919		General Dynamics Corp		3,361,180
56,971	e	General Motors Corp		655,166

165

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
SHARES		COMPANY		VALUE
16,384		Genuine Parts Co	$	650,117
12,853		Goodrich Corp		610,003
22,803	e	Harley-Davidson, Inc		826,837
33,817		Lockheed Martin Corp		3,336,385
34,283		Northrop Grumman Corp		2,293,533
36,646		Paccar, Inc		1,532,902
13,961	*	Pactiv Corp		296,392
42,372		Raytheon Co		2,384,696
97,641		United Technologies Corp		6,024,450
		TOTAL TRANSPORTATION EQUIPMENT		28,007,002
TRANSPORTATION SERVICES - 0.16%
17,100		CH Robinson Worldwide, Inc		937,764
21,400		Expeditors International Washington, Inc		920,200
		TOTAL TRANSPORTATION SERVICES		1,857,964
TRUCKING AND WAREHOUSING - 0.55%
102,404		United Parcel Service, Inc (Class B)		6,294,774
		TOTAL TRUCKING AND WAREHOUSING		6,294,774
WATER TRANSPORTATION - 0.13%
43,815		Carnival Corp		1,444,142
		TOTAL WATER TRANSPORTATION		1,444,142
WHOLESALE TRADE-DURABLE GOODS - 0.08%
12,557	*	Patterson Cos, Inc		369,050
6,248		W.W. Grainger, Inc		511,086
		TOTAL WHOLESALE TRADE-DURABLE GOODS		880,136
WHOLESALE TRADE-NONDURABLE GOODS - 0.39%
8,555		Brown-Forman Corp (Class B)		646,501
35,773		Cardinal Health, Inc		1,845,171
14,414	*	Dean Foods Co		282,803
60,215		Sysco Corp		1,656,515
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		4,430,990
		TOTAL COMMON STOCKS		1,133,948,542
		(Cost $1,125,774,224)
SHORT TERM INVESTMENTS - 7.97%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 2.55%
$ 29,060,000		Federal Home Loan Bank Discount Notes, 0.000%, 07/01/08		29,060,000
				29,060,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.42%
61,765,357		State Street Navigator Securities Lending Prime Portfolio		61,765,357
				61,765,357
		TOTAL SHORT-TERM INVESTMENTS		90,825,357
		(Cost $90,825,357)

166

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - S&P 500 Index Fund
				VALUE
		TOTAL PORTFOLIO - 107.47%	$	1,224,773,899
		(Cost $1,216,599,581)
		OTHER ASSETS & LIABILITIES, NET - (7.47)%		(85,132,485	)
		NET ASSETS - 100.00%	$	1,139,641,414
		The following abbreviations are used in portfolio descriptions:
		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 $596,967.
	e	All or a portion of these securities are out on loan.
		At June 30, 2008, the unrealized appreciation on investments was $8,174,318, consisting of
		gross unrealized appreciation of $173,246,969 and gross unrealized depreciation of $165,072,651.

	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE	DATE	(DEPRECIATION)
E-mini S&P 500 Index	60	$ 3,843,300	September 2008	$	(8,415)

167

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.98%
AMUSEMENT AND RECREATION SERVICES - 0.59%
11,346	*	Activision, Inc	$	386,558
2,577	e*	Penn National Gaming, Inc		82,851
513	e	Warner Music Group Corp		3,663
		TOTAL AMUSEMENT AND RECREATION SERVICES		473,072
APPAREL AND ACCESSORY STORES - 1.91%
3,305	e	Abercrombie & Fitch Co (Class A)		207,157
4,719	e	American Eagle Outfitters, Inc		64,320
889	e*	AnnTaylor Stores Corp		21,300
9,195		Gap, Inc		153,281
3,394	e*	Hanesbrands, Inc		92,113
9,001	*	Kohl's Corp		360,400
7,185	e	Limited Brands, Inc		121,067
7,005	e	Nordstrom, Inc		212,252
4,919		Ross Stores, Inc		174,723
4,340	e*	Urban Outfitters, Inc		135,365
		TOTAL APPAREL AND ACCESSORY STORES		1,541,978
APPAREL AND OTHER TEXTILE PRODUCTS - 0.35%
2,306	e	Guess ?, Inc		86,360
1,803		Phillips-Van Heusen Corp		66,026
2,040	e	Polo Ralph Lauren Corp		128,071
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		280,457
AUTO REPAIR, SERVICES AND PARKING - 0.07%
710	e*	Hertz Global Holdings, Inc		6,816
723		Ryder System, Inc		49,800
		TOTAL AUTO REPAIR, SERVICES AND PARKING		56,616
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.73%
3,643		Advance Auto Parts		141,458
1,572	e*	Autozone, Inc		190,228
8,359	e*	Carmax, Inc		118,614
2,560	*	Copart, Inc		109,619
1,203	e*	O'Reilly Automotive, Inc		26,887
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		586,806
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.26%
4,938	e	Fastenal Co		213,124
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		213,124
BUSINESS SERVICES - 8.88%
975	e*	Affiliated Computer Services, Inc (Class A)		52,153
6,432	e*	Akamai Technologies, Inc		223,769
3,032	e*	Alliance Data Systems Corp		171,460

168

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,321	*	Amdocs Ltd	$	97,704
2,998	*	Ansys, Inc		141,266
8,542	*	Autodesk, Inc		288,805
7,303	*	BMC Software, Inc		262,908
1,546		Brink's Co		101,139
7,093		CA, Inc		163,777
2,585	e*	Cerner Corp		116,790
2,355	e*	ChoicePoint, Inc		113,511
7,019	e*	Citrix Systems, Inc		206,429
1,230	e*	Clear Channel Outdoor Holdings, Inc (Class A)		21,931
11,046	e*	Cognizant Technology Solutions Corp (Class A)		359,105
6,132	*	Compuware Corp		58,499
1,414	e*	DST Systems, Inc		77,841
12,175	*	Electronic Arts, Inc		540,935
2,710	e	Equifax, Inc		91,110
1,251	*	Equinix, Inc		111,614
3,016	e*	F5 Networks, Inc		85,715
1,505	e	Factset Research Systems, Inc		84,822
1,729	e	Fidelity National Information Services, Inc		63,817
6,269	e*	Fiserv, Inc		284,425
760	*	Getty Images, Inc		25,787
2,168	e*	HLTH Corp		24,542
1,655	*	IHS, Inc (Class A)		115,188
1,572		IMS Health, Inc		36,628
15,444	e*	Interpublic Group of Cos, Inc		132,818
12,274	*	Intuit, Inc		338,394
6,841	e*	Iron Mountain, Inc		181,629
20,071	e*	Juniper Networks, Inc		445,175
2,162	*	Kinetic Concepts, Inc		86,285
2,800	e*	Lamar Advertising Co (Class A)		100,884
259	e	Manpower, Inc		15,084
5,648	*	McAfee, Inc		192,201
4,419	e*	Monster Worldwide, Inc		91,076
3,784	*	NAVTEQ Corp		291,368
5,771	*	NCR Corp		145,429
6,057	e*	Novell, Inc		35,676
6,592	*	Nuance Communications, Inc		103,297
7,288	e*	Red Hat, Inc		150,789
5,464	e	Robert Half International, Inc		130,972
4,020	e*	Salesforce.com, Inc		274,285
1,083	*	Sohu.com, Inc		76,287
6,352	e	Total System Services, Inc		141,141
7,513	*	Unisys Corp		29,676
7,444	e*	VeriSign, Inc		281,383
260	e*	WebMD Health Corp (Class A)		7,254
		TOTAL BUSINESS SERVICES		7,172,773
CHEMICALS AND ALLIED PRODUCTS - 5.30%
197	e*	Abraxis Bioscience, Inc		12,502
3,497		Albemarle Corp		139,565
443	e	Alberto-Culver Co		11,638
790	e*	APP Pharmaceuticals, Inc		13,209
16,316		Avon Products, Inc		587,702
1,251	*	Barr Pharmaceuticals, Inc		56,395

169

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,767	*	BioMarin Pharmaceuticals, Inc	$	109,168
5,023		Celanese Corp (Series A)		229,350
2,590	e*	Cephalon, Inc		172,727
2,155		CF Industries Holdings, Inc		329,284
1,183	e*	Charles River Laboratories International, Inc		75,617
390		Chemtura Corp		2,278
2,542	e	Church & Dwight Co, Inc		143,242
1,661		Clorox Co		86,704
6,671		Ecolab, Inc		286,786
3,748	e	Estee Lauder Cos (Class A)		174,095
1,107		FMC Corp		85,726
1,060	*	Forest Laboratories, Inc		36,824
1,003	e*	Hospira, Inc		40,230
670		Huntsman Corp		7,638
2,168	*	Idexx Laboratories, Inc		105,668
1,466	e*	ImClone Systems, Inc		59,314
3,078	e	International Flavors & Fragrances, Inc		120,227
1,500	*	Inverness Medical Innovations, Inc		49,755
1,264	e*	Invitrogen Corp		49,625
2,167	e	Mylan Laboratories, Inc		26,156
5,080		Nalco Holding Co		107,442
1,025	*	NBTY, Inc		32,862
2,978		Perrigo Co		94,611
690		PPG Industries, Inc		39,585
4,281	e	Rohm & Haas Co		198,810
1,304		Scotts Miracle-Gro Co (Class A)		22,911
3,904	e*	Sepracor, Inc		77,768
3,848	e	Sherwin-Williams Co		176,739
2,597		Sigma-Aldrich Corp		139,874
3,224	e*	VCA Antech, Inc		89,563
5,374	*	Vertex Pharmaceuticals, Inc		179,868
3,002	e*	Warner Chilcott Ltd (Class A)		50,884
2,183	*	Watson Pharmaceuticals, Inc		59,312
		TOTAL CHEMICALS AND ALLIED PRODUCTS		4,281,654
COAL MINING - 2.19%
2,688	*	Alpha Natural Resources, Inc		280,332
5,511	e	Arch Coal, Inc		413,490
6,988	e	Consol Energy, Inc		785,242
3,081		Massey Energy Co		288,844
		TOTAL COAL MINING		1,767,908
COMMUNICATIONS - 4.23%
15,162	*	American Tower Corp (Class A)		640,595
1,377	e*	Central European Media Enterprises Ltd (Class A)		124,660
2,715	e*	Citizens Communications Co		30,788
2,293	*	Clearwire Corp (Class A)		29,717
2,365	*	Crown Castle International Corp		91,596
1,834	*	CTC Media, Inc		45,226
7,798	e*	DISH Network Corp (Class A)		228,325
2,826		Embarq Corp		133,585
3,042		Global Payments, Inc		141,757
911	e*	IAC/InterActiveCorp		17,564
202	e*	Leap Wireless International, Inc		8,720

170

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
59,325	e*	Level 3 Communications, Inc	$	175,009
5,937	e*	Liberty Global, Inc (Class A)		186,600
19,756	*	Liberty Media Corp - Entertainment (Series A)		478,688
9,314	e*	MetroPCS Communications, Inc		164,951
2,964	*	NeuStar, Inc (Class A)		63,904
6,407	*	NII Holdings, Inc		304,268
28,573		Qwest Communications International, Inc		112,292
4,155	*	SBA Communications Corp (Class A)		149,622
1,663	e	Telephone & Data Systems, Inc		78,610
207	*	US Cellular Corp		11,706
8,705	e	Windstream Corp		107,420
11,505	e*	XM Satellite Radio Holdings, Inc (Class A)		90,199
		TOTAL COMMUNICATIONS		3,415,802
DEPOSITORY INSTITUTIONS - 0.91%
505		Capitol Federal Financial		18,993
6,931		Hudson City Bancorp, Inc		115,609
3,435	*	Metavante Technologies, Inc		77,700
7,601		Northern Trust Corp		521,201
		TOTAL DEPOSITORY INSTITUTIONS		733,503
EATING AND DRINKING PLACES - 2.20%
3,450	e	Brinker International, Inc		65,205
3,066	e	Burger King Holdings, Inc		82,138
1,261	*	Chipotle Mexican Grill, Inc (Class A)		104,184
5,356	e	Darden Restaurants, Inc		171,071
27,833	*	Starbucks Corp		438,091
6,768	e	Tim Hortons, Inc		194,174
3,064	e	Wendy's International, Inc		83,402
18,114		Yum! Brands, Inc		635,620
		TOTAL EATING AND DRINKING PLACES		1,773,885
EDUCATIONAL SERVICES - 0.72%
5,095	*	Apollo Group, Inc (Class A)		225,505
2,342		DeVry, Inc		125,578
1,407	e*	ITT Educational Services, Inc		116,260
543		Strayer Education, Inc		113,525
		TOTAL EDUCATIONAL SERVICES		580,868
ELECTRIC, GAS, AND SANITARY SERVICES - 4.57%
25,688	*	AES Corp		493,466
6,424	e	Allegheny Energy, Inc		321,907
13,537	*	Calpine Corp		305,395
7,945		Centerpoint Energy, Inc		127,517
6,241		Constellation Energy Group, Inc		512,386
4,611	e*	Covanta Holding Corp		123,068
405	e	DPL, Inc		10,684
5,747		El Paso Corp		124,940
518		Energen Corp		40,420
5,197	e*	Mirant Corp		203,463
3,400	e*	NRG Energy, Inc		145,860
14,264	d	PPL Corp		745,579
2,511		Questar Corp		178,381
5,482		Republic Services, Inc		162,815

171

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,195		Sierra Pacific Resources	$	27,898
3,296	*	Stericycle, Inc		170,403
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		3,694,182
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.48%
3,197	e*	Advanced Micro Devices, Inc		18,639
11,462		Altera Corp		237,263
4,079		Ametek, Inc		192,610
6,705	e	Amphenol Corp (Class A)		300,920
11,093	e	Analog Devices, Inc		352,425
10,865	*	Atmel Corp		37,810
2,603	e*	Avnet, Inc		71,010
500	e	AVX Corp		5,655
19,657	*	Broadcom Corp (Class A)		536,440
2,997	e*	Ciena Corp		69,440
5,063	e	Cooper Industries Ltd (Class A)		199,988
1,416	e*	Cree, Inc		32,299
5,757	e*	Cypress Semiconductor Corp		142,486
1,929	*	Dolby Laboratories, Inc (Class A)		77,739
2,844		Eaton Corp		241,655
194	e*	EchoStar Corp (Class A)		6,057
2,198	e*	Energizer Holdings, Inc		160,652
1,663	e	Harman International Industries, Inc		68,832
5,150		Harris Corp		260,024
2,948	*	Integrated Device Technology, Inc		29,303
805	*	International Rectifier Corp		15,456
1,853	e	Intersil Corp (Class A)		45,065
3,917	e*	JDS Uniphase Corp		44,497
3,635		L-3 Communications Holdings, Inc		330,312
1,114		Lincoln Electric Holdings, Inc		87,672
8,484	e	Linear Technology Corp		276,324
18,479	e*	LSI Logic Corp		113,461
18,545	e*	Marvell Technology Group Ltd		327,505
8,708	*	MEMC Electronic Materials, Inc		535,890
7,073	e	Microchip Technology, Inc		216,009
3,892	e*	Micron Technology, Inc		23,352
1,536	e	Molex, Inc		37,494
8,999		National Semiconductor Corp		184,839
13,135	e*	NetApp, Inc		284,504
1,328	e*	Novellus Systems, Inc		28,140
21,209	*	Nvidia Corp		397,032
15,163	*	ON Semiconductor Corp		139,045
3,992	e*	Rambus, Inc		76,127
1,781	*	Silicon Laboratories, Inc		64,276
57,325	e*	Sirius Satellite Radio, Inc		110,064
1,541	e*	Sunpower Corp (Class A)		110,921
2,681	e*	Varian Semiconductor Equipment Associates, Inc		93,352
10,677		Xilinx, Inc		269,594
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		6,852,178
ENGINEERING AND MANAGEMENT SERVICES - 3.94%
3,464	*	Aecom Technology Corp		112,684
5,240	e*	Amylin Pharmaceuticals, Inc		133,044
1,311		Corporate Executive Board Co		55,128

172

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,391		Fluor Corp	$	630,997
2,206	e*	Genpact Ltd		32,914
2,064	*	Gen-Probe, Inc		97,999
3,724	*	Hewitt Associates, Inc (Class A)		142,741
4,657	*	Jacobs Engineering Group, Inc		375,820
5,264		KBR, Inc		183,766
8,659	*	McDermott International, Inc		535,905
12,374		Paychex, Inc		387,059
5,132	e	Quest Diagnostics, Inc		248,748
1,185	*	SAIC, Inc		24,660
3,169	e*	Shaw Group, Inc		195,813
579	e*	URS Corp		24,301
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,181,579
FABRICATED METAL PRODUCTS - 0.99%
580	e*	Alliant Techsystems, Inc		58,974
483		Aptargroup, Inc		20,262
574		Ball Corp		27,403
6,137	*	Crown Holdings, Inc		159,501
6,413		Parker Hannifin Corp		457,375
724		Valmont Industries, Inc		75,506
		TOTAL FABRICATED METAL PRODUCTS		799,021
FOOD AND KINDRED PRODUCTS - 0.89%
4,240	e	Campbell Soup Co		141,870
6,687		H.J. Heinz Co		319,973
2,767	e*	Hansen Natural Corp		79,745
3,043	e	Hershey Co		99,750
1,717	e	McCormick & Co, Inc		61,228
1,185		Tyson Foods, Inc (Class A)		17,704
		TOTAL FOOD AND KINDRED PRODUCTS		720,270
FOOD STORES - 0.21%
975	e*	Panera Bread Co (Class A)		45,103
5,361	e	Whole Foods Market, Inc		127,002
		TOTAL FOOD STORES		172,105
FORESTRY - 0.01%
208	e	Rayonier, Inc		8,832
		TOTAL FORESTRY		8,832
FURNITURE AND FIXTURES - 0.01%
423	e	Hill-Rom Holdings, Inc		11,413
		TOTAL FURNITURE AND FIXTURES		11,413
FURNITURE AND HOME FURNISHINGS STORES - 0.61%
8,207	e*	Bed Bath & Beyond, Inc		230,617
6,243	e*	GameStop Corp (Class A)		252,217
599	e	Williams-Sonoma, Inc		11,884
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		494,718
GENERAL BUILDING CONTRACTORS - 0.31%
12	*	NVR, Inc		6,001
2,547	e	Pulte Homes, Inc		24,528

173

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,003		Walter Industries, Inc	$	217,866
		TOTAL GENERAL BUILDING CONTRACTORS		248,395
GENERAL MERCHANDISE STORES - 0.76%
2,945	e*	Big Lots, Inc		92,002
495	e	Family Dollar Stores, Inc		9,870
16,237		TJX Cos, Inc		510,978
		TOTAL GENERAL MERCHANDISE STORES		612,850
HEALTH SERVICES - 2.34%
796		AmerisourceBergen Corp		31,832
1,493		Cigna Corp		52,837
789	e*	Community Health Systems, Inc		26,021
2,404	e*	Covance, Inc		206,792
1,184	e*	Coventry Health Care, Inc		36,017
3,331	*	DaVita, Inc		176,976
1,971	*	Edwards Lifesciences Corp		122,281
8,047	*	Express Scripts, Inc		504,708
6,056	*	Health Management Associates, Inc (Class A)		39,425
4,244	e*	Laboratory Corp of America Holdings		295,510
2,498	e*	Lincare Holdings, Inc		70,943
382	e	Omnicare, Inc		10,016
1,710	*	Pediatrix Medical Group, Inc		84,183
4,085		Pharmaceutical Product Development, Inc		175,246
10,399	e*	Tenet Healthcare Corp		57,818
		TOTAL HEALTH SERVICES		1,890,605
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.50%
5,511	*	Foster Wheeler Ltd		403,130
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		403,130
HOLDING AND OTHER INVESTMENT OFFICES - 4.89%
1,565	e*	Affiliated Managers Group, Inc		140,944
1,064	e	Apartment Investment & Management Co (Class A)		36,240
1,274		Camden Property Trust		56,387
1,717		Digital Realty Trust, Inc		70,242
246	e	Essex Property Trust, Inc		26,199
718	e	Federal Realty Investment Trust		49,542
4,418	e	General Growth Properties, Inc		154,763
1,060		HCP, Inc		33,719
354		Health Care REIT, Inc		15,753
26,706	e	iShares Russell Midcap Growth Index Fund		2,827,631
136	e	Kilroy Realty Corp		6,396
2,858	e	Macerich Co		177,568
338		Nationwide Health Properties, Inc		10,644
2,133	e	Plum Creek Timber Co, Inc		91,100
2,019	e	Taubman Centers, Inc		98,224
978		Ventas, Inc		41,633
2,507		WABCO Holdings, Inc		116,475
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		3,953,460
HOTELS AND OTHER LODGING PLACES - 1.24%
296	e	Boyd Gaming Corp		3,718
599	e	Choice Hotels International, Inc		15,873

174

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
11,299		Marriott International, Inc (Class A)	$	296,486
4,463	*	MGM Mirage		151,251
1,308		Orient-Express Hotels Ltd (Class A)		56,820
7,137		Starwood Hotels & Resorts Worldwide, Inc		285,980
2,356	e	Wynn Resorts Ltd		191,661
		TOTAL HOTELS AND OTHER LODGING PLACES		1,001,789
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.81%
2,546	e*	AGCO Corp		133,436
2,284	*	Brocade Communications Systems, Inc		18,820
2,862		Bucyrus International, Inc (Class A)		208,983
518	e	Carlisle Cos, Inc		15,022
7,766		Cummins, Inc		508,828
2,162	e	Diebold, Inc		76,924
2,978	e	Donaldson Co, Inc		132,938
6,336		Dover Corp		306,472
3,097	*	Dresser-Rand Group, Inc		121,093
1,036		Flowserve Corp		141,621
4,896	*	FMC Technologies, Inc		376,649
2,214	e	Graco, Inc		84,287
2,856	e	IDEX Corp		105,215
1,967		Ingersoll-Rand Co Ltd (Class A)		73,625
11,836		International Game Technology		295,663
5,266	e	ITT Industries, Inc		333,496
4,067	e	Jabil Circuit, Inc		66,739
4,139		Joy Global, Inc		313,860
692		Kennametal, Inc		22,525
4,367	e*	Lam Research Corp		157,867
1,785	e	Lennox International, Inc		51,694
4,971	e	Manitowoc Co, Inc		161,707
1,256	*	Oil States International, Inc		79,681
4,690		Pall Corp		186,099
5,611	e	Rockwell Automation, Inc		245,369
1,769	e*	SanDisk Corp		33,080
2,468	e*	Scientific Games Corp (Class A)		73,102
8,969	e	Seagate Technology, Inc		171,577
2,042		SPX Corp		268,993
3,367	*	Teradata Corp		77,912
1,446	e	Toro Co		48,108
4,804	e*	Varian Medical Systems, Inc		249,087
8,464	*	Western Digital Corp		292,262
2,207	*	Zebra Technologies Corp (Class A)		72,036
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		5,504,770
INSTRUMENTS AND RELATED PRODUCTS - 7.30%
1,997	e*	Advanced Medical Optics, Inc		37,424
13,958	*	Agilent Technologies, Inc		496,067
11,661	e	Allergan, Inc		606,955
6,449		Applied Biosystems, Inc		215,913
3,796		Bard (C.R.), Inc		333,858
1,943		Beckman Coulter, Inc		131,211
5,692		Dentsply International, Inc		209,466
5,250	*	Flir Systems, Inc		212,992
4,897	e	Garmin Ltd		209,787

175

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,387		Hillenbrand, Inc	$	51,082
4,890	*	Hologic, Inc		106,602
2,170	*	Illumina, Inc		189,029
1,480	e*	Intuitive Surgical, Inc		398,712
1,305	*	Itron, Inc		128,347
5,990	e	Kla-Tencor Corp		243,853
1,247	*	Mettler-Toledo International, Inc		118,290
2,107	e*	Millipore Corp		142,981
1,910	e	National Instruments Corp		54,187
2,024		PerkinElmer, Inc		56,368
7,175		Pitney Bowes, Inc		244,668
2,741	e*	Resmed, Inc		97,963
6,146		Rockwell Collins, Inc		294,762
3,418	e	Roper Industries, Inc		225,178
12,956	*	St. Jude Medical, Inc		529,641
1,400	*	Techne Corp		108,346
4,112	e*	Teradyne, Inc		45,520
4,641	e*	Trimble Navigation Ltd		165,684
3,827	*	Waters Corp		246,841
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		5,901,727
INSURANCE AGENTS, BROKERS AND SERVICE - 0.02%
1,063	e	Brown & Brown, Inc		18,486
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		18,486
INSURANCE CARRIERS - 0.37%
1,211		Axis Capital Holdings Ltd		36,100
247	e	Erie Indemnity Co (Class A)		11,399
221	*	Health Net, Inc		5,317
3,675	*	Humana, Inc		146,155
774	*	Philadelphia Consolidated Holding Co		26,293
278	e	Transatlantic Holdings, Inc		15,699
278		W.R. Berkley Corp		6,716
1,477	*	WellCare Health Plans, Inc		53,394
		TOTAL INSURANCE CARRIERS		301,073
LEATHER AND LEATHER PRODUCTS - 0.47%
13,050	*	Coach, Inc		376,884
		TOTAL LEATHER AND LEATHER PRODUCTS		376,884
LEGAL SERVICES - 0.16%
1,918	*	FTI Consulting, Inc		131,306
		TOTAL LEGAL SERVICES		131,306
METAL MINING - 0.89%
3,460	e	Cleveland-Cliffs, Inc		412,397
1,735	e	Foundation Coal Holdings, Inc		153,686
1,023	e*	Patriot Coal Corp		156,816
		TOTAL METAL MINING		722,899
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.15%
1,975	e	Hasbro, Inc		70,547
747	*	Intrepid Potash, Inc		49,138
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		119,685

176

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
MISCELLANEOUS RETAIL - 0.88%
3,227	e*	Dick's Sporting Goods, Inc	$	57,247
3,441	*	Dollar Tree, Inc		112,486
1,696		MSC Industrial Direct Co (Class A)		74,811
4,867	e	Petsmart, Inc		97,097
1,473	*	Priceline.com, Inc		170,073
4,820	e	Tiffany & Co		196,415
		TOTAL MISCELLANEOUS RETAIL		708,129
MOTION PICTURES - 0.11%
3,054	*	DreamWorks Animation SKG, Inc (Class A)		91,040
		TOTAL MOTION PICTURES		91,040
NONDEPOSITORY INSTITUTIONS - 0.96%
1,400	e	GLG Partners, Inc		10,920
15,781	*	SLM Corp		305,362
9,529		Textron, Inc		456,725
		TOTAL NONDEPOSITORY INSTITUTIONS		773,007
OIL AND GAS EXTRACTION - 8.44%
1,068	*	Atwood Oceanics, Inc		132,795
8,283	*	Cameron International Corp		458,464
942	*	CNX Gas Corp		39,602
1,138	e*	Continental Resources, Inc		78,886
9,406	*	Denbury Resources, Inc		343,319
2,630	e	Diamond Offshore Drilling, Inc		365,938
513	*	Encore Acquisition Co		38,572
5,149		ENSCO International, Inc		415,730
5,004		Equitable Resources, Inc		345,576
3,199	e*	Global Industries Ltd		57,358
339	e*	Helix Energy Solutions Group, Inc		14,116
800	*	Key Energy Services, Inc		15,536
2,450	*	Mariner Energy, Inc		90,576
1,579	e*	Nabors Industries Ltd		77,734
10,276	e	Noble Corp		667,529
2,107	*	Oceaneering International, Inc		162,344
3,648		Patterson-UTI Energy, Inc		131,474
7,861	*	PetroHawk Energy Corp		364,043
3,748	*	Plains Exploration & Production Co		273,492
4,599	*	Pride International, Inc		217,487
3,960	e*	Quicksilver Resources, Inc		153,014
5,900		Range Resources Corp		386,686
1,537	e	Rowan Cos, Inc		71,855
98	*	SEACOR Holdings, Inc		8,772
7,681	e	Smith International, Inc		638,598
13,074	*	Southwestern Energy Co		622,453
972		St. Mary Land & Exploration Co		62,830
3,087	e*	Superior Energy Services		170,217
2,675	e*	Tetra Technologies, Inc		63,424
127	e	Tidewater, Inc		8,259
1,282	*	Unit Corp		106,368
1,153		W&T Offshore, Inc		67,462

177

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,618	*	Whiting Petroleum Corp	$	171,637
		TOTAL OIL AND GAS EXTRACTION		6,822,146
PAPER AND ALLIED PRODUCTS - 0.13%
1,275		Greif, Inc (Class A)		81,638
965		Packaging Corp of America		20,757
		TOTAL PAPER AND ALLIED PRODUCTS		102,395
PERSONAL SERVICES - 0.38%
12,441		H&R Block, Inc		266,237
1,211	e	Weight Watchers International, Inc		43,124
		TOTAL PERSONAL SERVICES		309,361
PETROLEUM AND COAL PRODUCTS - 1.72%
1,766		Cabot Oil & Gas Corp		119,611
3,974	e	Frontier Oil Corp		95,018
1,454	e	Holly Corp		53,682
7,264		Murphy Oil Corp		712,235
464		Noble Energy, Inc		46,660
3,528	*	SandRidge Energy, Inc		227,838
2,654	e	Sunoco, Inc		107,991
1,531	e	Tesoro Corp		30,268
		TOTAL PETROLEUM AND COAL PRODUCTS		1,393,303
PRIMARY METAL INDUSTRIES - 1.82%
4,282		AK Steel Holding Corp		295,458
3,866	e	Allegheny Technologies, Inc		229,176
134	e	Carpenter Technology Corp		5,849
557	*	Century Aluminum Co		37,035
2,671	e*	CommScope, Inc		140,949
2,016	e*	General Cable Corp		122,674
934	e	Hubbell, Inc (Class B)		37,239
5,326		Precision Castparts Corp		513,267
107		Schnitzer Steel Industries, Inc (Class A)		12,262
1,778	e	Steel Dynamics, Inc		69,466
655	e	Titanium Metals Corp		9,163
		TOTAL PRIMARY METAL INDUSTRIES		1,472,538
PRINTING AND PUBLISHING - 0.64%
1,553		Dun & Bradstreet Corp		136,105
1,599		John Wiley & Sons, Inc (Class A)		72,003
6,118		McGraw-Hill Cos, Inc		245,454
1,683	*	MSCI, Inc		61,076
		TOTAL PRINTING AND PUBLISHING		514,638
RAILROAD TRANSPORTATION - 0.13%
2,437	e*	Kansas City Southern Industries, Inc		107,204
		TOTAL RAILROAD TRANSPORTATION		107,204
REAL ESTATE - 0.30%
2,283	e*	CB Richard Ellis Group, Inc (Class A)		43,834
2,750	e	Forest City Enterprises, Inc (Class A)		88,605
3,121	e	St. Joe Co		107,113
		TOTAL REAL ESTATE		239,552

178

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES		COMPANY		VALUE
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.13%
5,988	e*	Goodyear Tire & Rubber Co	$	106,766
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		106,766
SECURITY AND COMMODITY BROKERS - 3.15%
5,354		Broadridge Financial Solutions, Inc		112,702
4,348	*	Corrections Corp of America		119,440
2,843	e*	E*Trade Financial Corp		8,927
3,918	e	Eaton Vance Corp		155,780
3,338	e	Federated Investors, Inc (Class B)		114,894
2,698	*	IntercontinentalExchange, Inc		307,572
1,966		Invesco Ltd		47,145
1,458	e*	Investment Technology Group, Inc		48,785
5,790	e	Janus Capital Group, Inc		153,261
1,979		Lazard Ltd (Class A)		67,583
2,300	e*	MF Global Ltd		14,513
616	*	Morningstar, Inc		44,370
2,879	e*	Nasdaq Stock Market, Inc		76,437
3,624		Nymex Holdings, Inc		306,156
5,147		SEI Investments Co		121,057
9,930	e	T Rowe Price Group, Inc		560,747
9,297	e*	TD Ameritrade Holding Corp		168,183
3,313		Waddell & Reed Financial, Inc (Class A)		115,988
		TOTAL SECURITY AND COMMODITY BROKERS		2,543,540
SPECIAL TRADE CONTRACTORS - 0.21%
5,117	e*	Quanta Services, Inc		170,243
		TOTAL SPECIAL TRADE CONTRACTORS		170,243
STONE, CLAY, AND GLASS PRODUCTS - 0.29%
1,577	e	Eagle Materials, Inc		39,945
5,015	e	Gentex Corp		72,417
1,876	*	Owens-Illinois, Inc		78,210
1,397	*	USG Corp		41,309
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		231,881
TOBACCO PRODUCTS - 0.31%
3,575	*	Lorillard, Inc		247,247
		TOTAL TOBACCO PRODUCTS		247,247
TRANSPORTATION BY AIR - 0.10%
4,936	e*	AMR Corp		25,272
836		Copa Holdings S.A. (Class A)		23,542
5,652	e*	Delta Air Lines, Inc		32,216
		TOTAL TRANSPORTATION BY AIR		81,030
TRANSPORTATION EQUIPMENT - 1.02%
3,312	e*	BE Aerospace, Inc		77,136
4,782		Goodrich Corp		226,954
8,063	e	Harley-Davidson, Inc		292,364
3,222		Harsco Corp		175,309
2,023	e	Oshkosh Truck Corp		41,856
443	e	Thor Industries, Inc		9,418
		TOTAL TRANSPORTATION EQUIPMENT		823,037

179

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
SHARES			COMPANY		VALUE
TRANSPORTATION SERVICES - 0.97%
6,520		e	CH Robinson Worldwide, Inc	$	357,557
8,155		e	Expeditors International Washington, Inc		350,665
242			GATX Corp		10,728
3,306		e	UTI Worldwide, Inc		65,955
			TOTAL TRANSPORTATION SERVICES		784,905
TRUCKING AND WAREHOUSING - 0.28%
388		e	Con-way, Inc		18,337
2,999		e	J.B. Hunt Transport Services, Inc		99,807
2,016			Landstar System, Inc		111,324
			TOTAL TRUCKING AND WAREHOUSING		229,468
WATER TRANSPORTATION - 0.27%
1,862		e	Frontline Ltd		129,930
1,894		e*	Kirby Corp		90,912
			TOTAL WATER TRANSPORTATION		220,842
WHOLESALE TRADE-DURABLE GOODS - 1.09%
410		*	Arrow Electronics, Inc		12,595
3,875			BorgWarner, Inc		171,972
5,180		*	LKQ Corp		93,603
1,517		e	Martin Marietta Materials, Inc		157,146
4,945		*	Patterson Cos, Inc		145,334
287		*	Tech Data Corp		9,726
2,925		e	W.W. Grainger, Inc		239,265
1,198		e*	WESCO International, Inc		47,968
			TOTAL WHOLESALE TRADE-DURABLE GOODS		877,609
WHOLESALE TRADE-NONDURABLE GOODS - 1.39%
3,166			Airgas, Inc		184,863
2,319		e*	Bare Escentuals, Inc		43,435
2,352		e	Brown-Forman Corp (Class B)		177,741
1,444		*	Central European Distribution Corp		107,073
4,031		e*	Dean Foods Co		79,088
4,074		*	Endo Pharmaceuticals Holdings, Inc		98,550
3,147		e*	Henry Schein, Inc		162,291
2,490		e	Herbalife Ltd		96,487
3,493			Terra Industries, Inc		172,380
			TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,121,908
			TOTAL COMMON STOCKS		79,971,592
			(Cost $72,040,848)
SHORT-TERM INVESTMENTS - 29.61%
PRINCIPAL			ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 3.48%
$	2,810,000		Federal Home Loan Bank (FHLB), 07/01/08		2,810,000
					2,810,000
SHARES			COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 26.13%
21,110,178			State Street Navigator Securities Lending Prime Portfolio		21,110,178
					21,110,178

180

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Growth Index Fund
				VALUE
		TOTAL SHORT-TERM INVESTMENTS	$	23,920,178
		(Cost $23,920,178)
		TOTAL PORTFOLIO - 128.59%		103,891,770
		(Cost $95,961,026)
		OTHER ASSETS & LIABILITIES, NET - (28.59)%		(23,097,331	)
		NET ASSETS - 100.00%	$	80,794,439
		The following abbreviation is used in portfolio descriptions:
		REIT  -   Real Estate Investment Trust
	*	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 $47,043.
	e	All or a portion of these securities are out on loan.
		At June 30, 2008, the net unrealized appreciation on investments was $7,930,744,
		consisting of gross unrealized appreciation of $11,266,100 and gross unrealized depreciation of
		$3,335,356.

	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE	DATE	(DEPRECIATION)
E-mini S & P Mid 400 Index	8	$ 656,960	September 2008	$	(23,299)

181

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP VALUE INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.54%
AMUSEMENT AND RECREATION SERVICES - 0.08%
3,578	e	International Speedway Corp (Class A)	$	139,649
2,507	e	Warner Music Group Corp		17,900
		TOTAL AMUSEMENT AND RECREATION SERVICES		157,549
APPAREL AND ACCESSORY STORES - 0.65%
5,749		American Eagle Outfitters, Inc		78,359
4,072	e*	AnnTaylor Stores Corp		97,565
17,090		Foot Locker, Inc		212,771
27,195		Gap, Inc		453,341
8,121	*	Kohl's Corp		325,165
10,879		Limited Brands, Inc		183,311
		TOTAL APPAREL AND ACCESSORY STORES		1,350,512
APPAREL AND OTHER TEXTILE PRODUCTS - 0.49%
10,421		Jones Apparel Group, Inc		143,289
10,749	e	Liz Claiborne, Inc		152,098
572		Phillips-Van Heusen Corp		20,947
9,641		VF Corp		686,246
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,002,580
AUTO REPAIR, SERVICES AND PARKING - 0.32%
2,093	*	Federal Mogul Corp (Class A)		33,760
33,662	*	Hertz Global Holdings, Inc		323,155
4,288		Ryder System, Inc		295,357
		TOTAL AUTO REPAIR, SERVICES AND PARKING		652,272
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.20%
12,688	e*	Autonation, Inc		127,134
9,436	*	O'Reilly Automotive, Inc		210,895
4,537	e	Penske Auto Group, Inc		66,875
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		404,904
BUSINESS SERVICES - 4.16%
6,744	*	Affiliated Computer Services, Inc (Class A)		360,737
12,517	*	Amdocs Ltd		368,250
11,082	e*	Avis Budget Group, Inc		92,756
22,854		CA, Inc		527,699
28,476	*	Cadence Design Systems, Inc		287,608
16,809	*	Computer Sciences Corp		787,334
11,937	*	Compuware Corp		113,879
13,747	*	Convergys Corp		204,280
921	*	DST Systems, Inc		50,701
58,738		Electronic Data Systems Corp		1,447,304
6,677		Equifax, Inc		224,481
23,670	*	Expedia, Inc		435,055
16,653		Fidelity National Information Services, Inc		614,662

182

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,564	*	Getty Images, Inc	$	188,787
13,825	*	HLTH Corp		156,499
15,655		IMS Health, Inc		364,762
8,486	e*	Interpublic Group of Cos, Inc		72,980
8,099		Manpower, Inc		471,686
1,812	*	McAfee, Inc		61,662
1,828	*	NCR Corp		46,066
21,367	*	Novell, Inc		125,852
86,279	*	Sun Microsystems, Inc		938,716
15,650	*	Synopsys, Inc		374,192
18,965	*	Unisys Corp		74,912
9,543	*	United Rentals, Inc		187,138
		TOTAL BUSINESS SERVICES		8,577,998
CHEMICALS AND ALLIED PRODUCTS - 4.43%
8,616		Alberto-Culver Co		226,342
11,756		Avery Dennison Corp		516,441
8,401	*	Barr Pharmaceuticals, Inc		378,717
7,029	e	Cabot Corp		170,875
2,301		Celanese Corp (Series A)		105,064
4,108	*	Charles River Laboratories International, Inc		262,583
24,565		Chemtura Corp		143,460
10,517		Clorox Co		548,987
5,305		Cytec Industries, Inc		289,441
8,416		Eastman Chemical Co		579,526
5,121		FMC Corp		396,570
30,724	*	Forest Laboratories, Inc		1,067,352
15,040	*	Hospira, Inc		603,254
15,823		Huntsman Corp		180,382
2,489	*	ImClone Systems, Inc		100,705
4,232	*	Inverness Medical Innovations, Inc		140,375
7,344	e*	Invitrogen Corp		288,325
27,598	*	King Pharmaceuticals, Inc		288,951
7,522		Lubrizol Corp		348,494
27,436		Mylan Laboratories, Inc		331,153
1,066		Nalco Holding Co		22,546
2,984	*	NBTY, Inc		95,667
16,176		PPG Industries, Inc		928,017
2,380	e	Rohm & Haas Co		110,527
13,278		RPM International, Inc		273,527
1,267		Scotts Miracle-Gro Co (Class A)		22,261
6,857		Sigma-Aldrich Corp		369,318
11,143	e	Valspar Corp		210,714
5,296	*	Watson Pharmaceuticals, Inc		143,892
		TOTAL CHEMICALS AND ALLIED PRODUCTS		9,143,466
COMMUNICATIONS - 2.93%
24,474	e*	Cablevision Systems Corp (Class A)		553,112
11,644	*	CenturyTel, Inc		414,410
27,853	e	Citizens Communications Co		315,853
795	e*	Clearwire Corp (Class A)		10,303
24,417	*	Crown Castle International Corp		945,670
8,098		Embarq Corp		382,792
3,100	e	Hearst-Argyle Television, Inc		59,520

183

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
17,721	*	IAC/InterActiveCorp	$	341,661
5,249	*	Leap Wireless International, Inc		226,599
19,082	e*	Liberty Global, Inc (Class A)		599,747
14,268	*	Liberty Media Corp - Capital (Series A)		205,459
65,573	*	Liberty Media Holding Corp (Interactive A)		967,857
83,535	e	Qwest Communications International, Inc		328,293
6,604		Telephone & Data Systems, Inc		312,171
1,386	*	US Cellular Corp		78,378
25,325	e	Windstream Corp		312,511
		TOTAL COMMUNICATIONS		6,054,336
DEPOSITORY INSTITUTIONS - 5.50%
14,066	e	Associated Banc-Corp		271,333
9,293		Astoria Financial Corp		186,603
10,127	e	Bancorpsouth, Inc		177,121
5,108		Bank of Hawaii Corp		244,162
2,458	e	BOK Financial Corp		131,380
1,192	e	Capitol Federal Financial		44,831
4,426	e	City National Corp		186,202
16,620	e	Comerica, Inc		425,971
6,518		Commerce Bancshares, Inc		258,504
6,489		Cullen/Frost Bankers, Inc		323,477
54,467		Fifth Third Bancorp		554,474
791		First Citizens Bancshares, Inc (Class A)		110,337
21,608	e	First Horizon National Corp		160,547
21,252	e	Fulton Financial Corp		213,583
37,442		Hudson City Bancorp, Inc		624,533
40,422	e	Huntington Bancshares, Inc		233,235
44,222	e	Keycorp		485,558
7,257	e	M&T Bank Corp		511,909
28,614	e	Marshall & Ilsley Corp		438,653
81,511		National City Corp		388,807
37,891	e	New York Community Bancorp, Inc		675,975
2,385		Northern Trust Corp		163,539
37,728		People's United Financial, Inc		588,557
31,041		Popular, Inc		204,560
74,969		Regions Financial Corp		817,912
48,999	e	Sovereign Bancorp, Inc		360,633
28,820	e	Synovus Financial Corp		251,599
13,958	e	TCF Financial Corp		167,915
10,867	e	TFS Financial Corp		125,949
5,258		UnionBanCal Corp		212,528
13,914	e	Valley National Bancorp		219,424
9,698	e	Washington Federal, Inc		175,534
115,743		Washington Mutual, Inc		570,613
6,546		Webster Financial Corp		121,756
8,211	e	Whitney Holding Corp		150,261
7,427	e	Wilmington Trust Corp		196,370
11,879	e	Zions Bancorporation		374,070
		TOTAL DEPOSITORY INSTITUTIONS		11,348,415
EDUCATIONAL SERVICES - 0.07%
9,891	*	Career Education Corp		144,508
		TOTAL EDUCATIONAL SERVICES		144,508

184

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
ELECTRIC, GAS, AND SANITARY SERVICES - 13.86%
8,453		AGL Resources, Inc	$	292,305
12,194		Alliant Energy Corp		417,766
42,023	*	Allied Waste Industries, Inc		530,330
23,130		Ameren Corp		976,780
44,345		American Electric Power Co, Inc		1,783,999
5,203		American Water Works Co, Inc		115,403
15,213		Aqua America, Inc		242,952
9,958		Atmos Energy Corp		274,542
13,300		Centerpoint Energy, Inc		213,465
24,881	e	CMS Energy Corp		370,727
30,103	e	Consolidated Edison, Inc		1,176,726
1,675		Constellation Energy Group, Inc		137,518
11,004	e	DPL, Inc		290,286
18,013		DTE Energy Co		764,472
54,675	*	Dynegy, Inc (Class A)		467,471
35,976		Edison International		1,848,447
60,958		El Paso Corp		1,325,227
6,485		Energen Corp		506,025
17,482		Energy East Corp		432,155
9,533	e	Great Plains Energy, Inc		240,994
10,085	e	Hawaiian Electric Industries, Inc		249,402
8,439	e	Integrys Energy Group, Inc		428,954
20,190		MDU Resources Group, Inc		703,823
8,465	e*	Mirant Corp		331,405
8,972	e	National Fuel Gas Co		533,655
30,282		NiSource, Inc		542,653
17,167		Northeast Utilities		438,274
16,093	*	NRG Energy, Inc		690,390
11,795	e	NSTAR		398,907
10,154		OGE Energy Corp		321,983
11,537		Oneok, Inc		563,352
22,240		Pepco Holdings, Inc		570,456
39,448	e	PG&E Corp		1,565,691
11,113		Pinnacle West Capital Corp		341,947
28,855		Progress Energy, Inc		1,207,005
14,318		Puget Energy, Inc		343,489
12,001		Questar Corp		852,551
38,214	*	Reliant Energy, Inc		812,812
1,488		Republic Services, Inc		44,194
12,883		SCANA Corp		476,671
27,702		Sempra Energy		1,563,778
19,019		Sierra Pacific Resources		241,731
12,540		Southern Union Co		338,831
23,269	e	TECO Energy, Inc		500,051
12,153		UGI Corp		348,913
8,428	e	Vectren Corp		263,038
12,913		Wisconsin Energy Corp		583,926
47,575		Xcel Energy, Inc		954,830
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		28,620,302
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 3.05%
12,999	*	ADC Telecommunications, Inc		191,995

185

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
58,599	e*	Advanced Micro Devices, Inc	$	341,632
18,088	*	Atmel Corp		62,946
9,330	*	Avnet, Inc		254,522
4,888	e	AVX Corp		55,283
4,594		Cooper Industries Ltd (Class A)		181,463
5,898	e*	Cree, Inc		134,533
10,036		Eaton Corp		852,759
4,184	*	EchoStar Corp (Class A)		130,624
13,566	*	Fairchild Semiconductor International, Inc		159,129
1,630		Harman International Industries, Inc		67,466
10,412	*	Integrated Device Technology, Inc		103,495
6,922	*	International Rectifier Corp		132,902
8,965		Intersil Corp (Class A)		218,029
7,329	e*	Jarden Corp		133,681
12,212	e*	JDS Uniphase Corp		138,728
3,048		L-3 Communications Holdings, Inc		276,972
1,707		Lincoln Electric Holdings, Inc		134,341
18,149	e*	LSI Logic Corp		111,435
72,862	e*	Micron Technology, Inc		437,172
10,431	e	Molex, Inc		254,621
7,695	e*	Novellus Systems, Inc		163,057
14,638	e*	QLogic Corp		213,568
14,484		RadioShack Corp		177,719
4,372		Teleflex, Inc		243,039
43,899	e*	Tellabs, Inc		204,130
6,322	*	Thomas & Betts Corp		239,288
18,750	*	Vishay Intertechnology, Inc		166,313
8,297	e	Whirlpool Corp		512,174
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		6,293,016
ENGINEERING AND MANAGEMENT SERVICES - 0.84%
958	*	Aecom Technology Corp		31,164
873	e*	Genpact Ltd		13,025
3,544		KBR, Inc		123,721
21,751		Moody's Corp		749,104
3,111	e	Quest Diagnostics, Inc		150,790
16,937	*	SAIC, Inc		352,459
7,641	*	URS Corp		320,693
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,740,956
FABRICATED METAL PRODUCTS - 1.30%
2,058	e*	Alliant Techsystems, Inc		209,257
6,091		Aptargroup, Inc		255,517
9,175		Ball Corp		438,015
12,598		Commercial Metals Co		474,945
5,601		Crane Co		215,807
10,939	e	Pentair, Inc		383,084
6,365		Snap-On, Inc		331,044
8,600		Stanley Works		385,538
		TOTAL FABRICATED METAL PRODUCTS		2,693,207
FOOD AND KINDRED PRODUCTS - 4.71%
13,420		Bunge Ltd		1,445,200
12,324		Campbell Soup Co		412,361

186

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
35,152		Coca-Cola Enterprises, Inc	$	608,130
53,846		ConAgra Foods, Inc		1,038,151
20,427	*	Constellation Brands, Inc (Class A)		405,680
8,184		Corn Products International, Inc		401,916
21,784		Del Monte Foods Co		154,666
27,638	*	Dr Pepper Snapple Group, Inc		579,845
15,487		H.J. Heinz Co		741,053
8,416	e	Hershey Co		275,876
7,845		Hormel Foods Corp		271,515
6,140		J.M. Smucker Co		249,530
7,522		McCormick & Co, Inc		268,235
12,756		Molson Coors Brewing Co (Class B)		693,033
14,858		Pepsi Bottling Group, Inc		414,835
6,409		PepsiAmericas, Inc		126,770
77,867		Sara Lee Corp		953,871
13,508	e*	Smithfield Foods, Inc		268,539
27,396		Tyson Foods, Inc (Class A)		409,296
		TOTAL FOOD AND KINDRED PRODUCTS		9,718,502
FOOD STORES - 1.02%
48,400		Safeway, Inc		1,381,820
23,439	*	Supervalu, Inc		724,031
		TOTAL FOOD STORES		2,105,851
FORESTRY - 0.73%
7,596		Rayonier, Inc		322,526
23,086		Weyerhaeuser Co		1,180,618
		TOTAL FORESTRY		1,503,144
FURNITURE AND FIXTURES - 0.54%
6,285	e	Hill-Rom Holdings, Inc		169,569
18,364	e	Leggett & Platt, Inc		307,964
39,944		Masco Corp		628,319
		TOTAL FURNITURE AND FIXTURES		1,105,852
FURNITURE AND HOME FURNISHINGS STORES - 0.38%
5,059	*	Bed Bath & Beyond, Inc		142,158
6,226	e*	Mohawk Industries, Inc		399,087
6,237	e	Steelcase, Inc (Class A)		62,557
8,873		Williams-Sonoma, Inc		176,040
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		779,842
GENERAL BUILDING CONTRACTORS - 0.84%
14,497		Centex Corp		193,825
34,884	e	DR Horton, Inc		378,491
9,499	e	KB Home		160,818
15,059	e	Lennar Corp (Class A)		185,828
4,265	e	MDC Holdings, Inc		166,591
417	e*	NVR, Inc		208,533
16,847	e	Pulte Homes, Inc		162,237
14,387	e*	Toll Brothers, Inc		269,469
		TOTAL GENERAL BUILDING CONTRACTORS		1,725,792

187

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
GENERAL MERCHANDISE STORES - 1.22%
6,789	e*	BJ's Wholesale Club, Inc	$	262,734
14,218		Family Dollar Stores, Inc		283,507
24,496		JC Penney Co, Inc		888,960
46,524		Macy's, Inc		903,496
15,936	e*	Saks, Inc		174,977
		TOTAL GENERAL MERCHANDISE STORES		2,513,674
HEALTH SERVICES - 1.67%
15,609		AmerisourceBergen Corp		624,204
3,576	e	Brookdale Senior Living, Inc		72,807
26,673		Cigna Corp		943,957
8,241	*	Community Health Systems, Inc		271,788
13,331	*	Coventry Health Care, Inc		405,529
1,940	*	DaVita, Inc		103,072
9,769	e*	Health Management Associates, Inc (Class A)		63,596
6,705	e*	LifePoint Hospitals, Inc		189,752
10,907	e	Omnicare, Inc		285,982
755	*	Pediatrix Medical Group, Inc		37,169
22,962	e*	Tenet Healthcare Corp		127,669
5,145		Universal Health Services, Inc (Class B)		325,267
		TOTAL HEALTH SERVICES		3,450,792
HOLDING AND OTHER INVESTMENT OFFICES - 11.04%
3,512		Alexandria Real Estate Equities, Inc		341,858
20,249	e	Allied Capital Corp		281,259
10,818	e	AMB Property Corp		545,011
59,379		Annaly Mortgage Management, Inc		920,968
6,877	e	Apartment Investment & Management Co (Class A)		234,231
8,512	e	AvalonBay Communities, Inc		758,930
13,217	e	Boston Properties, Inc		1,192,438
10,598	e	Brandywine Realty Trust		167,024
5,317	e	BRE Properties, Inc (Class A)		230,120
2,153	e	Camden Property Trust		95,292
7,321	e	CBL & Associates Properties, Inc		167,212
13,226		Developers Diversified Realty Corp		459,074
2,337		Digital Realty Trust, Inc		95,607
13,419	e	Douglas Emmett, Inc		294,815
15,942		Duke Realty Corp		357,898
29,868		Equity Residential		1,143,048
2,207	e	Essex Property Trust, Inc		235,046
4,582	e	Federal Realty Investment Trust		316,158
12,286	e	General Growth Properties, Inc		430,379
22,876	e	HCP, Inc		727,686
8,796		Health Care REIT, Inc		391,422
10,376		Hospitality Properties Trust		253,797
57,666	e	Host Marriott Corp		787,141
24,895		HRPT Properties Trust		168,539
23,911		iShares Russell Midcap Value Index Fund		3,075,911
14,837	e	iStar Financial, Inc		195,997
3,110		Kilroy Realty Corp		146,263
23,897	e	Kimco Realty Corp		824,924
10,238	e	Liberty Property Trust		339,390
7,255		Mack-Cali Realty Corp		247,903
9,435		Nationwide Health Properties, Inc		297,108

188

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
12,779	e	Plum Creek Timber Co, Inc	$	545,791
28,895		Prologis		1,570,443
14,006		Public Storage, Inc		1,131,545
7,722		Regency Centers Corp		456,525
6,455		SL Green Realty Corp		533,958
13,803		UDR, Inc		308,911
11,962		Ventas, Inc		509,222
32,455		Virgin Media, Inc		441,713
15,080		Vornado Realty Trust		1,327,040
7,818		Weingarten Realty Investors		237,042
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		22,784,639
HOTELS AND OTHER LODGING PLACES - 0.26%
5,511		Boyd Gaming Corp		69,218
2,200		Choice Hotels International, Inc		58,300
809	*	MGM Mirage		27,417
326	e	Orient-Express Hotels Ltd (Class A)		14,161
20,062		Wyndham Worldwide Corp		359,310
		TOTAL HOTELS AND OTHER LODGING PLACES		528,406
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.06%
2,818	*	AGCO Corp		147,691
6,750	e	Black & Decker Corp		388,193
35,569	*	Brocade Communications Systems, Inc		293,089
5,529	e	Carlisle Cos, Inc		160,341
1,192		Diebold, Inc		42,411
2,637		Dover Corp		127,552
3,480		Flowserve Corp		475,716
5,795	*	Gardner Denver, Inc		329,156
995		IDEX Corp		36,656
28,542		Ingersoll-Rand Co Ltd (Class A)		1,068,327
4,984		ITT Industries, Inc		315,637
11,965		Jabil Circuit, Inc		196,346
6,532		Kennametal, Inc		212,617
1,174	*	Lam Research Corp		42,440
10,509	*	Lexmark International, Inc (Class A)		351,316
1,843	*	Oil States International, Inc		116,920
19,925	*	SanDisk Corp		372,598
27,882		Seagate Technology, Inc		533,383
10,596	*	Teradata Corp		245,191
11,141	*	Terex Corp		572,313
8,653		Timken Co		285,030
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		6,312,923
INSTRUMENTS AND RELATED PRODUCTS - 1.54%
1,435		Beckman Coulter, Inc		96,906
4,968	e	Cooper Cos, Inc		184,561
4,819	e	DRS Technologies, Inc		379,352
31,828	e	Eastman Kodak Co		459,278
14,127	*	Hologic, Inc		307,969
1,202		Kla-Tencor Corp		48,933
7,290		PerkinElmer, Inc		203,027
2,469		Pitney Bowes, Inc		84,193
7,074	*	Teradyne, Inc		78,309

189

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
99,281		Xerox Corp	$	1,346,250
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		3,188,778
INSURANCE AGENTS, BROKERS AND SERVICE - 1.85%
32,984		AON Corp		1,515,285
9,322		Brown & Brown, Inc		162,110
9,452	e	Gallagher (Arthur J.) & Co		227,793
56,253		Marsh & McLennan Cos, Inc		1,493,517
977		White Mountains Insurance Group Ltd		419,133
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		3,817,838
INSURANCE CARRIERS - 8.38%
563	e*	Alleghany Corp		186,944
5,394		Allied World Assurance Holdings Ltd		213,710
8,691		American Financial Group, Inc		232,484
1,948		American National Insurance Co		190,943
5,639	*	Arch Capital Group Ltd		373,978
13,056		Assurant, Inc		861,174
12,599		Axis Capital Holdings Ltd		375,576
16,091		Cincinnati Financial Corp		408,711
3,303		CNA Financial Corp		83,070
20,381	*	Conseco, Inc		202,180
5,769	e	Endurance Specialty Holdings Ltd		177,628
3,247	e	Erie Indemnity Co (Class A)		149,849
6,838		Everest Re Group Ltd		545,057
23,612	e	Fidelity National Title Group, Inc (Class A)		297,511
10,215	e	First American Corp		269,676
47,796		Genworth Financial, Inc (Class A)		851,247
6,188		Hanover Insurance Group, Inc		262,990
11,602		HCC Insurance Holdings, Inc		245,266
11,210	*	Health Net, Inc		269,713
8,073	*	Humana, Inc		321,063
19,604	e	Leucadia National Corp		920,212
27,927		Lincoln National Corp		1,265,652
1,097	*	Markel Corp		402,599
23,610	e	MBIA, Inc		103,648
3,270	e	Mercury General Corp		152,774
15,476	e	MGIC Investment Corp		94,558
5,096	e	Nationwide Financial Services, Inc (Class A)		244,659
25,447	e	Old Republic International Corp		301,292
3,547	e	OneBeacon Insurance Group Ltd		62,321
5,471		PartnerRe Ltd		378,210
3,602	*	Philadelphia Consolidated Holding Co		122,360
28,587		Principal Financial Group		1,199,796
74,468		Progressive Corp		1,394,041
7,709		Protective Life Corp		293,327
3,743	e	Reinsurance Group Of America, Inc		162,895
7,123		RenaissanceRe Holdings Ltd		318,184
9,930		Safeco Corp		666,899
5,408		Stancorp Financial Group, Inc		253,960
9,917		Torchmark Corp		581,632
2,147		Transatlantic Holdings, Inc		121,241
4,550	e	Unitrin, Inc		125,444
38,248		UnumProvident Corp		782,172

190

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
14,001		W.R. Berkley Corp	$	338,264
184		Wesco Financial Corp		70,288
20,575		XL Capital Ltd (Class A)		423,022
		TOTAL INSURANCE CARRIERS		17,298,220
MISCELLANEOUS MANUFACTURING INDUSTRIES - 1.07%
2,393	e	Armstrong World Industries, Inc		69,923
16,970		Fortune Brands, Inc		1,059,098
7,915		Hasbro, Inc		282,724
1,654	*	Intrepid Potash, Inc		108,800
39,958		Mattel, Inc		684,081
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		2,204,626
MISCELLANEOUS RETAIL - 0.54%
4,104	e	Barnes & Noble, Inc		101,943
30,152	*	Office Depot, Inc		329,863
8,141	e	OfficeMax, Inc		113,160
58,388	e*	Rite Aid Corp		92,837
6,513	*	Sears Holdings Corp		479,748
		TOTAL MISCELLANEOUS RETAIL		1,117,551
MOTION PICTURES - 1.00%
64,171		CBS Corp (Class B)		1,250,693
31,050	*	Discovery Holding Co (Class A)		681,858
8,807	e	Regal Entertainment Group (Class A)		134,571
		TOTAL MOTION PICTURES		2,067,122
NONDEPOSITORY INSTITUTIONS - 1.06%
22,401		American Capital Strategies Ltd		532,472
14,233	e*	AmeriCredit Corp		122,688
17,691	e	CapitalSource, Inc		196,016
31,215	e	CIT Group, Inc		212,574
63,009		Countrywide Financial Corp		267,788
52,630		Discover Financial Services		693,137
5,875	*	SLM Corp		113,681
520		Student Loan Corp		51,002
		TOTAL NONDEPOSITORY INSTITUTIONS		2,189,358
NONMETALLIC MINERALS, EXCEPT FUELS - 0.35%
12,033		Vulcan Materials Co		719,333
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		719,333
OIL AND GAS EXTRACTION - 4.64%
32,448		BJ Services Co		1,036,389
9,147		Cimarex Energy Co		637,271
4,365	*	Encore Acquisition Co		328,204
1,114		ENSCO International, Inc		89,944
7,196	*	Exterran Holdings, Inc		514,442
9,881	e*	Forest Oil Corp		736,135
4,419	*	Global Industries Ltd		79,233
9,252	e*	Helix Energy Solutions Group, Inc		385,253
11,531		Helmerich & Payne, Inc		830,463
9,815	*	Hercules Offshore, Inc		373,166
11,391	*	Key Energy Services, Inc		221,213

191

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,449	*	Mariner Energy, Inc	$	90,540
26,701	e*	Nabors Industries Ltd		1,314,490
6,513		Patterson-UTI Energy, Inc		234,729
1,370	*	PetroHawk Energy Corp		63,445
13,201		Pioneer Natural Resources Co		1,033,374
1,045	*	Plains Exploration & Production Co		76,254
5,316	*	Pride International, Inc		251,394
8,082	e	Rowan Cos, Inc		377,834
2,143	e*	SEACOR Holdings, Inc		191,820
3,987		St. Mary Land & Exploration Co		257,720
5,446	e	Tidewater, Inc		354,153
1,245	*	Unit Corp		103,298
		TOTAL OIL AND GAS EXTRACTION		9,580,764
PAPER AND ALLIED PRODUCTS - 1.40%
11,005	e	Bemis Co		246,732
52,339	*	Domtar Corporation		285,248
46,756		International Paper Co		1,089,415
19,185	e	MeadWestvaco Corp		457,370
8,686		Packaging Corp of America		186,836
31,766	*	Smurfit-Stone Container Corp		129,288
10,990		Sonoco Products Co		340,141
13,009	e	Temple-Inland, Inc		146,611
		TOTAL PAPER AND ALLIED PRODUCTS		2,881,641
PERSONAL SERVICES - 0.32%
14,541		Cintas Corp		385,482
28,831		Service Corp International		284,274
		TOTAL PERSONAL SERVICES		669,756
PETROLEUM AND COAL PRODUCTS - 1.89%
7,031		Ashland, Inc		338,894
5,878		Cabot Oil & Gas Corp		398,117
14,547	*	Newfield Exploration Co		949,192
17,798		Noble Energy, Inc		1,789,767
5,230		Sunoco, Inc		212,809
10,645		Tesoro Corp		210,452
		TOTAL PETROLEUM AND COAL PRODUCTS		3,899,231
PIPELINES, EXCEPT NATURAL GAS - 0.97%
69,889		Spectra Energy Corp		2,008,610
		TOTAL PIPELINES, EXCEPT NATURAL GAS		2,008,610
PRIMARY METAL INDUSTRIES - 0.65%
4,905		Carpenter Technology Corp		214,103
1,637	*	Century Aluminum Co		108,844
3,489		Hubbell, Inc (Class B)		139,106
2,058		Schnitzer Steel Industries, Inc (Class A)		235,847
13,518		Steel Dynamics, Inc		528,148
7,713		Titanium Metals Corp		107,905
		TOTAL PRIMARY METAL INDUSTRIES		1,333,953
PRINTING AND PUBLISHING - 1.60%
1,798		Dun & Bradstreet Corp		157,577

192

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
10,113	e*	EW Scripps Co (Class A)	$	420,094
25,249	e	Gannett Co, Inc		547,146
17,810		McGraw-Hill Cos, Inc		714,537
4,318		Meredith Corp		122,156
15,349	e	New York Times Co (Class A)		236,221
23,443		R.R. Donnelley & Sons Co		696,023
682		Washington Post Co (Class B)		400,266
		TOTAL PRINTING AND PUBLISHING		3,294,020
RAILROAD TRANSPORTATION - 0.03%
1,645	*	Kansas City Southern Industries, Inc		72,364
		TOTAL RAILROAD TRANSPORTATION		72,364
REAL ESTATE - 0.24%
12,361	*	CB Richard Ellis Group, Inc (Class A)		237,331
3,488		Jones Lang LaSalle, Inc		209,943
1,518		St. Joe Co		52,098
		TOTAL REAL ESTATE		499,372
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.49%
9,479	*	Goodyear Tire & Rubber Co		169,011
30,575		Newell Rubbermaid, Inc		513,354
17,348	e	Sealed Air Corp		329,785
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,012,150
SECURITY AND COMMODITY BROKERS - 1.69%
24,714		Ameriprise Financial, Inc		1,005,118
1,189	*	Corrections Corp of America		32,662
35,968	e*	E*Trade Financial Corp		112,940
37,418		Invesco Ltd		897,284
1,536		Janus Capital Group, Inc		40,658
14,169	e	Jefferies Group, Inc		238,323
15,364		Legg Mason, Inc		669,409
5,601	e*	MF Global Ltd		35,342
6,794	e*	Nasdaq Stock Market, Inc		180,381
10,752	e	Raymond James Financial, Inc		283,745
		TOTAL SECURITY AND COMMODITY BROKERS		3,495,862
SPECIAL TRADE CONTRACTORS - 0.07%
4,140	*	Quanta Services, Inc		137,738
		TOTAL SPECIAL TRADE CONTRACTORS		137,738
STONE, CLAY, AND GLASS PRODUCTS - 0.41%
8,418	*	Owens Corning, Inc		191,510
13,144	*	Owens-Illinois, Inc		547,973
3,334	e*	USG Corp		98,586
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		838,069
TOBACCO PRODUCTS - 0.74%
9,142	*	Lorillard, Inc		632,261
16,325	e	UST, Inc		891,508
		TOTAL TOBACCO PRODUCTS		1,523,769

193

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION BY AIR - 0.74%
13,676	*	AMR Corp	$	70,021
10,905	*	Continental Airlines, Inc (Class B)		110,250
880		Copa Holdings S.A. (Class A)		24,781
16,063	*	Delta Air Lines, Inc		91,559
26,940	*	Northwest Airlines Corp		179,420
80,802		Southwest Airlines Co		1,053,658
		TOTAL TRANSPORTATION BY AIR		1,529,689
TRANSPORTATION EQUIPMENT - 1.95%
7,941		Autoliv, Inc		370,209
240,106	e*	Ford Motor Co		1,154,910
53,831		General Motors Corp		619,057
18,425		Genuine Parts Co		731,104
2,924		Harley-Davidson, Inc		106,024
2,493		Oshkosh Truck Corp		51,580
14,367	*	Pactiv Corp		305,011
11,561	*	Spirit Aerosystems Holdings, Inc (Class A)		221,740
2,758	e	Thor Industries, Inc		58,635
8,940	e	Trinity Industries, Inc		310,129
5,308	*	TRW Automotive Holdings Corp		98,039
		TOTAL TRANSPORTATION EQUIPMENT		4,026,438
TRANSPORTATION SERVICES - 0.09%
4,370		GATX Corp		193,722
		TOTAL TRANSPORTATION SERVICES		193,722
TRUCKING AND WAREHOUSING - 0.09%
4,211	e	Con-way, Inc		199,012
		TOTAL TRUCKING AND WAREHOUSING		199,012
WATER TRANSPORTATION - 0.48%
4,629		Alexander & Baldwin, Inc		210,851
2,702	e	Overseas Shipholding Group, Inc		214,863
15,568	e	Royal Caribbean Cruises Ltd		349,813
4,967	e	Teekay Corp		224,409
		TOTAL WATER TRANSPORTATION		999,936
WHOLESALE TRADE-DURABLE GOODS - 0.76%
12,404	*	Arrow Electronics, Inc		381,051
1,759		BorgWarner, Inc		78,064
18,232	*	Ingram Micro, Inc (Class A)		323,618
321		Martin Marietta Materials, Inc		33,252
6,936		Reliance Steel & Aluminum Co		534,696
5,010	*	Tech Data Corp		169,789
1,175	*	WESCO International, Inc		47,047
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,567,517
WHOLESALE TRADE-NONDURABLE GOODS - 0.15%
2,415		Brown-Forman Corp (Class B)		182,502
3,722	*	Dean Foods Co		73,026
1,231	*	Endo Pharmaceuticals Holdings, Inc		29,778
718	*	Henry Schein, Inc		37,019
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		322,325

194

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Value Index Fund
				VALUE
		TOTAL COMMON STOCKS	$	203,402,202
		(Cost $221,927,831)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 22.12%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.17%
$      2,410,000		Federal Home Loan Bank (FHLB), 07/01/08		2,410,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		2,410,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 20.95%
31,265,897		State Street Navigator Securities Lending Prime Portfolio		43,245,173
				43,245,173
		TOTAL SHORT -TERM INVESTMENTS		45,655,173
		(Cost $45,655,173)
		TOTAL PORTFOLIO - 120.66%		249,057,375
		(Cost $267,583,004)		(42,637,822	)
		OTHER ASSETS & LIABILITIES, NET - (20.66%)
			$	206,419,553
		NET ASSETS - 100.00%
		The following abbreviations are used in portfolio descriptions:
		REIT - Real Estate Investment Trust
	*	Non-income producing
	e	All or a portion of these securities are out on loan.
		At June 30, 2008, the unrealized depreciation on investments was $18,525,629 consisting of
		gross unrealized appreciation of $11,787,310 and gross unrealized depreciation of $30,312,939.

	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE	DATE	DEPRECIATION
E-mini S&P 400 Index	700	$ 555,520	September 2008	$ (2,757)

195

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MID-CAP BLEND INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.53%
AMUSEMENT AND RECREATION SERVICES - 0.36%
14,380	*	Activision, Inc	$	489,927
1,740	e	International Speedway Corp (Class A)		67,912
3,672	*	Penn National Gaming, Inc		118,055
2,083		Warner Music Group Corp		14,873
		TOTAL AMUSEMENT AND RECREATION SERVICES		690,767
APPAREL AND ACCESSORY STORES - 1.32%
4,245		Abercrombie & Fitch Co (Class A)		266,077
8,472		American Eagle Outfitters, Inc		115,473
2,950	e*	AnnTaylor Stores Corp		70,682
7,402		Foot Locker, Inc		92,155
23,593		Gap, Inc		393,295
4,681	e*	Hanesbrands, Inc		127,042
14,922	*	Kohl's Corp		597,477
13,804		Limited Brands, Inc		232,597
8,818	e	Nordstrom, Inc		267,185
6,459		Ross Stores, Inc		229,424
5,494	e*	Urban Outfitters, Inc		171,358
		TOTAL APPAREL AND ACCESSORY STORES		2,562,765
APPAREL AND OTHER TEXTILE PRODUCTS - 0.41%
2,772		Guess ?, Inc		103,811
4,286		Jones Apparel Group, Inc		58,933
4,560	e	Liz Claiborne, Inc		64,524
2,481		Phillips-Van Heusen Corp		90,854
2,717	e	Polo Ralph Lauren Corp		170,573
4,297		VF Corp		305,860
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		794,555
AUTO REPAIR, SERVICES AND PARKING - 0.18%
944	*	Federal Mogul Corp (Class A)		15,227
15,799	*	Hertz Global Holdings, Inc		151,670
2,807		Ryder System, Inc		193,346
		TOTAL AUTO REPAIR, SERVICES AND PARKING		360,243
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.47%
4,457		Advance Auto Parts		173,065
5,567	e*	Autonation, Inc		55,781
1,993	*	Autozone, Inc		241,173
10,420	e*	Carmax, Inc		147,860
3,322	*	Copart, Inc		142,248
5,529	*	O'Reilly Automotive, Inc		123,573
1,979	e	Penske Auto Group, Inc		29,170
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		912,870
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.14%

196

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,314	e	Fastenal Co	$	272,512
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		272,512
BUSINESS SERVICES - 6.60%
4,348	*	Affiliated Computer Services, Inc (Class A)		232,575
8,227	e*	Akamai Technologies, Inc		286,217
3,712	e*	Alliance Data Systems Corp		209,914
9,522	*	Amdocs Ltd		280,137
3,756	*	Ansys, Inc		176,983
10,828	*	Autodesk, Inc		366,095
5,155	e*	Avis Budget Group, Inc		43,147
9,254	*	BMC Software, Inc		333,144
1,966		Brink's Co		128,616
18,825		CA, Inc		434,669
12,690	*	Cadence Design Systems, Inc		128,169
3,184	e*	Cerner Corp		143,853
2,981	*	ChoicePoint, Inc		143,684
8,896	*	Citrix Systems, Inc		261,631
1,960	e*	Clear Channel Outdoor Holdings, Inc (Class A)		34,947
13,920	*	Cognizant Technology Solutions Corp (Class A)		452,539
7,326	*	Computer Sciences Corp		343,150
13,156	*	Compuware Corp		125,508
6,172	*	Convergys Corp		91,716
2,142	e*	DST Systems, Inc		117,917
15,321	*	Electronic Arts, Inc		680,712
25,783		Electronic Data Systems Corp		635,293
6,342		Equifax, Inc		213,218
1,584	*	Equinix, Inc		141,324
10,057	*	Expedia, Inc		184,848
4,070	e*	F5 Networks, Inc		115,669
2,075	e	Factset Research Systems, Inc		116,947
9,376		Fidelity National Information Services, Inc		346,068
7,945	*	Fiserv, Inc		360,465
2,415	*	Getty Images, Inc		81,941
8,507	e*	HLTH Corp		96,299
2,098	*	IHS, Inc (Class A)		146,021
8,878		IMS Health, Inc		206,857
22,719	e*	Interpublic Group of Cos, Inc		195,383
15,557	*	Intuit, Inc		428,906
8,498	*	Iron Mountain, Inc		225,622
25,325	*	Juniper Networks, Inc		561,709
2,605	e*	Kinetic Concepts, Inc		103,966
3,944	e*	Lamar Advertising Co (Class A)		142,102
3,853		Manpower, Inc		224,399
7,810	*	McAfee, Inc		265,774
6,096	e*	Monster Worldwide, Inc		125,639
4,747	*	NAVTEQ Corp		365,519
8,102	*	NCR Corp		204,170
16,675	*	Novell, Inc		98,216
8,344	*	Nuance Communications, Inc		130,750
9,358	e*	Red Hat, Inc		193,617
7,122		Robert Half International, Inc		170,714
5,095	*	Salesforce.com, Inc		347,632
1,372	*	Sohu.com, Inc		96,644

197

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
37,832	*	Sun Microsystems, Inc	$	411,612
7,160	*	Synopsys, Inc		171,196
7,926		Total System Services, Inc		176,116
16,513	*	Unisys Corp		65,226
4,068	*	United Rentals, Inc		79,773
9,409	e*	VeriSign, Inc		355,660
418	e*	WebMD Health Corp (Class A)		11,662
		TOTAL BUSINESS SERVICES		12,812,280
CHEMICALS AND ALLIED PRODUCTS - 4.86%
374	*	Abraxis Bioscience, Inc		23,734
4,363		Albemarle Corp		174,127
4,194		Alberto-Culver Co		110,176
1,837	e*	APP Pharmaceuticals, Inc		30,715
4,838		Avery Dennison Corp		212,533
20,684		Avon Products, Inc		745,038
5,296	*	Barr Pharmaceuticals, Inc		238,744
4,774	*	BioMarin Pharmaceuticals, Inc		138,351
3,160		Cabot Corp		76,820
7,317		Celanese Corp (Series A)		334,094
3,230	e*	Cephalon, Inc		215,409
2,732		CF Industries Holdings, Inc		417,450
3,284	*	Charles River Laboratories International, Inc		209,913
11,735		Chemtura Corp		68,532
3,346		Church & Dwight Co, Inc		188,547
6,685		Clorox Co		348,957
2,094		Cytec Industries, Inc		114,249
3,694		Eastman Chemical Co		254,369
8,457		Ecolab, Inc		363,566
4,744	e	Estee Lauder Cos (Class A)		220,359
3,768		FMC Corp		291,794
14,769	*	Forest Laboratories, Inc		513,075
7,679	*	Hospira, Inc		308,005
7,862		Huntsman Corp		89,627
2,921	*	Idexx Laboratories, Inc		142,370
2,827	e*	ImClone Systems, Inc		114,380
3,934		International Flavors & Fragrances, Inc		153,662
3,759	*	Inverness Medical Innovations, Inc		124,686
4,464	e*	Invitrogen Corp		175,257
11,810	*	King Pharmaceuticals, Inc		123,651
3,410		Lubrizol Corp		157,985
14,619	e	Mylan Laboratories, Inc		176,451
7,021	e	Nalco Holding Co		148,494
2,533	*	NBTY, Inc		81,208
3,777		Perrigo Co		119,995
7,953		PPG Industries, Inc		456,264
6,420		Rohm & Haas Co		298,145
5,970		RPM International, Inc		122,982
1,941		Scotts Miracle-Gro Co (Class A)		34,103
5,162	e*	Sepracor, Inc		102,827
5,013	e	Sherwin-Williams Co		230,247
6,367		Sigma-Aldrich Corp		342,927
5,083	e	Valspar Corp		96,120
4,074	*	VCA Antech, Inc		113,176

198

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,632	*	Vertex Pharmaceuticals, Inc	$	221,973
4,473	e*	Warner Chilcott Ltd (Class A)		75,817
4,990	*	Watson Pharmaceuticals, Inc		135,578
		TOTAL CHEMICALS AND ALLIED PRODUCTS		9,436,482
COAL MINING - 1.15%
3,407	*	Alpha Natural Resources, Inc		355,316
6,905	e	Arch Coal, Inc		518,082
8,818		Consol Energy, Inc		990,879
3,979		Massey Energy Co		373,031
		TOTAL COAL MINING		2,237,308
COMMUNICATIONS - 3.61%
19,370	*	American Tower Corp (Class A)		818,383
10,679	e*	Cablevision Systems Corp (Class A)		241,345
1,661	*	Central European Media Enterprises Ltd (Class A)		150,370
5,263	*	CenturyTel, Inc		187,310
15,718	e*	Citizens Communications Co		178,242
3,234	e*	Clearwire Corp (Class A)		41,913
13,609	*	Crown Castle International Corp		527,077
2,551	*	CTC Media, Inc		62,908
10,117	*	DISH Network Corp (Class A)		296,226
7,317		Embarq Corp		345,875
3,966		Global Payments, Inc		184,816
1,041	e	Hearst-Argyle Television, Inc		19,987
8,779	*	IAC/InterActiveCorp		169,259
2,465	e*	Leap Wireless International, Inc		106,414
74,120	e*	Level 3 Communications, Inc		218,654
16,089	e*	Liberty Global, Inc (Class A)		505,677
6,611	*	Liberty Media Corp - Capital (Series A)		95,198
24,984	*	Liberty Media Corp - Entertainment (Series A)		605,362
28,782	*	Liberty Media Holding Corp (Interactive A)		424,822
11,802	e*	MetroPCS Communications, Inc		209,013
3,844	e*	NeuStar, Inc (Class A)		82,877
8,191	*	NII Holdings, Inc		388,991
73,573	e	Qwest Communications International, Inc		289,142
5,328	*	SBA Communications Corp (Class A)		191,861
4,962		Telephone & Data Systems, Inc		234,554
851	*	US Cellular Corp		48,124
21,946	e	Windstream Corp		270,814
15,486	e*	XM Satellite Radio Holdings, Inc (Class A)		121,410
		TOTAL COMMUNICATIONS		7,016,624
DEPOSITORY INSTITUTIONS - 3.03%
6,174	e	Associated Banc-Corp		119,096
3,999		Astoria Financial Corp		80,300
4,145	e	Bancorpsouth, Inc		72,496
2,392		Bank of Hawaii Corp		114,338
1,074	e	BOK Financial Corp		57,405
1,080	e	Capitol Federal Financial		40,619
2,041	e	City National Corp		85,865
7,554	e	Comerica, Inc		193,609
2,861	e	Commerce Bancshares, Inc		113,467
2,890	e	Cullen/Frost Bankers, Inc		144,067

199

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
23,000		Fifth Third Bancorp	$	234,140
300		First Citizens Bancshares, Inc (Class A)		41,847
10,384	e	First Horizon National Corp		77,153
8,231	e	Fulton Financial Corp		82,722
25,160		Hudson City Bancorp, Inc		419,669
17,971	e	Huntington Bancshares, Inc		103,693
19,245	e	Keycorp		211,310
3,185	e	M&T Bank Corp		224,670
12,533	e	Marshall & Ilsley Corp		192,131
4,077	*	Metavante Technologies, Inc		92,222
36,413		National City Corp		173,690
16,523	e	New York Community Bancorp, Inc		294,770
10,628		Northern Trust Corp		728,762
16,689		People's United Financial, Inc		260,348
13,608		Popular, Inc		89,677
32,583		Regions Financial Corp		355,481
21,495	e	Sovereign Bancorp, Inc		158,203
12,992	e	Synovus Financial Corp		113,420
6,480	e	TCF Financial Corp		77,954
5,188	e	TFS Financial Corp		60,129
2,296		UnionBanCal Corp		92,804
6,313	e	Valley National Bancorp		99,556
4,170	e	Washington Federal, Inc		75,477
51,011		Washington Mutual, Inc		251,484
2,735		Webster Financial Corp		50,871
3,281	e	Whitney Holding Corp		60,042
3,160	e	Wilmington Trust Corp		83,550
5,318	e	Zions Bancorporation		167,464
		TOTAL DEPOSITORY INSTITUTIONS		5,894,501
EATING AND DRINKING PLACES - 1.17%
5,184		Brinker International, Inc		97,978
3,204		Burger King Holdings, Inc		85,835
1,595	*	Chipotle Mexican Grill, Inc (Class A)		131,779
6,929		Darden Restaurants, Inc		221,312
35,129	*	Starbucks Corp		552,930
8,954	e	Tim Hortons, Inc		256,890
4,088	e	Wendy's International, Inc		111,275
23,022		Yum! Brands, Inc		807,842
		TOTAL EATING AND DRINKING PLACES		2,265,841
EDUCATIONAL SERVICES - 0.42%
6,594	*	Apollo Group, Inc (Class A)		291,850
4,528	e*	Career Education Corp		66,154
2,968		DeVry, Inc		159,144
1,972	e*	ITT Educational Services, Inc		162,946
660		Strayer Education, Inc		137,986
		TOTAL EDUCATIONAL SERVICES		818,080
ELECTRIC, GAS, AND SANITARY SERVICES - 8.86%
32,329	*	AES Corp		621,040
3,850		AGL Resources, Inc		133,133
8,019		Allegheny Energy, Inc		401,832
5,535		Alliant Energy Corp		189,629

200

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
18,250	*	Allied Waste Industries, Inc	$	230,315
10,025		Ameren Corp		423,356
19,311		American Electric Power Co, Inc		776,882
2,975		American Water Works Co, Inc		65,986
6,300		Aqua America, Inc		100,611
4,302		Atmos Energy Corp		118,606
17,161	*	Calpine Corp		387,152
15,405		Centerpoint Energy, Inc		247,250
10,877	e	CMS Energy Corp		162,067
13,331	e	Consolidated Edison, Inc		521,109
8,676		Constellation Energy Group, Inc		712,300
5,784	*	Covanta Holding Corp		154,375
5,492	e	DPL, Inc		144,879
7,826		DTE Energy Co		332,135
23,994	*	Dynegy, Inc (Class A)		205,149
15,953		Edison International		819,665
33,906		El Paso Corp		737,116
3,452		Energen Corp		269,360
7,651		Energy East Corp		189,133
4,289	e	Great Plains Energy, Inc		108,426
4,073	e	Hawaiian Electric Industries, Inc		100,725
3,726	e	Integrys Energy Group, Inc		189,393
8,805		MDU Resources Group, Inc		306,942
10,036	e*	Mirant Corp		392,909
4,042	e	National Fuel Gas Co		240,418
13,276		NiSource, Inc		237,906
7,310		Northeast Utilities		186,624
11,508	*	NRG Energy, Inc		493,693
5,179		NSTAR		175,154
4,440		OGE Energy Corp		140,792
5,029		Oneok, Inc		245,566
9,600		Pepco Holdings, Inc		246,240
17,019	e	PG&E Corp		675,484
4,778		Pinnacle West Capital Corp		147,019
18,170		PPL Corp		949,746
12,704		Progress Energy, Inc		531,408
6,360		Puget Energy, Inc		152,576
8,347		Questar Corp		592,971
16,538	*	Reliant Energy, Inc		351,763
7,709		Republic Services, Inc		228,957
5,758		SCANA Corp		213,046
12,283		Sempra Energy		693,375
11,324		Sierra Pacific Resources		143,928
5,035		Southern Union Co		136,046
4,323	*	Stericycle, Inc		223,499
10,151	e	TECO Energy, Inc		218,145
5,199		UGI Corp		149,263
3,710	e	Vectren Corp		115,789
5,696		Wisconsin Energy Corp		257,573
21,279		Xcel Energy, Inc		427,070
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		17,215,526
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.89%
5,479	*	ADC Telecommunications, Inc		80,925

201

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
29,340	e*	Advanced Micro Devices, Inc	$	171,052
14,881		Altera Corp		308,037
5,236		Ametek, Inc		247,244
8,500		Amphenol Corp (Class A)		381,480
14,059		Analog Devices, Inc		446,654
20,647	*	Atmel Corp		71,852
7,239	*	Avnet, Inc		197,480
2,601	e	AVX Corp		29,417
24,545	*	Broadcom Corp (Class A)		669,833
4,117	e*	Ciena Corp		95,391
8,431		Cooper Industries Ltd (Class A)		333,025
4,200	e*	Cree, Inc		95,802
7,390	*	Cypress Semiconductor Corp		182,903
2,445	*	Dolby Laboratories, Inc (Class A)		98,534
7,962		Eaton Corp		676,531
2,016	e*	EchoStar Corp (Class A)		62,940
2,696	*	Energizer Holdings, Inc		197,051
6,136	*	Fairchild Semiconductor International, Inc		71,975
2,980	e	Harman International Industries, Inc		123,342
6,502		Harris Corp		328,286
8,694	*	Integrated Device Technology, Inc		86,418
3,511	*	International Rectifier Corp		67,411
6,134		Intersil Corp (Class A)		149,179
3,284	e*	Jarden Corp		59,900
10,626	e*	JDS Uniphase Corp		120,711
5,944		L-3 Communications Holdings, Inc		540,131
2,076		Lincoln Electric Holdings, Inc		163,381
10,999	e	Linear Technology Corp		358,237
31,857	e*	LSI Logic Corp		195,602
23,360	*	Marvell Technology Group Ltd		412,538
10,861	*	MEMC Electronic Materials, Inc		668,386
9,210		Microchip Technology, Inc		281,273
37,740	e*	Micron Technology, Inc		226,440
6,490	e	Molex, Inc		158,421
12,118		National Semiconductor Corp		248,904
16,665	*	NetApp, Inc		360,964
4,867	e*	Novellus Systems, Inc		103,132
26,357	*	Nvidia Corp		493,403
18,658	*	ON Semiconductor Corp		171,094
6,432	e*	QLogic Corp		93,843
6,744		RadioShack Corp		82,749
5,187	e*	Rambus, Inc		98,916
2,362	*	Silicon Laboratories, Inc		85,245
71,290	e*	Sirius Satellite Radio, Inc		136,877
1,953	e*	Sunpower Corp (Class A)		140,577
1,803		Teleflex, Inc		100,229
19,115	e*	Tellabs, Inc		88,885
2,876	*	Thomas & Betts Corp		108,857
3,681	*	Varian Semiconductor Equipment Associates, Inc		128,172
8,963	*	Vishay Intertechnology, Inc		79,502
3,640	e	Whirlpool Corp		224,697
13,533		Xilinx, Inc		341,708
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		11,445,536

202

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
ENGINEERING AND MANAGEMENT SERVICES - 2.45%
4,908	*	Aecom Technology Corp	$	159,657
6,446	e*	Amylin Pharmaceuticals, Inc		163,664
1,794		Corporate Executive Board Co		75,438
4,263		Fluor Corp		793,259
2,958	e*	Genpact Ltd		44,133
2,457	*	Gen-Probe, Inc		116,658
4,633	*	Hewitt Associates, Inc (Class A)		177,583
5,903	*	Jacobs Engineering Group, Inc		476,372
8,430		KBR, Inc		294,291
10,910	*	McDermott International, Inc		675,220
9,548		Moody's Corp		328,833
15,494		Paychex, Inc		484,652
7,548	e	Quest Diagnostics, Inc		365,852
8,721	*	SAIC, Inc		181,484
3,913	*	Shaw Group, Inc		241,784
4,087	*	URS Corp		171,531
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		4,750,411
FABRICATED METAL PRODUCTS - 1.13%
1,611	e*	Alliant Techsystems, Inc		163,806
3,282		Aptargroup, Inc		137,680
4,739		Ball Corp		226,240
5,540		Commercial Metals Co		208,858
2,366		Crane Co		91,162
8,054	*	Crown Holdings, Inc		209,323
8,128		Parker Hannifin Corp		579,689
4,889	e	Pentair, Inc		171,213
2,806		Snap-On, Inc		145,940
3,794		Stanley Works		170,085
917		Valmont Industries, Inc		95,634
		TOTAL FABRICATED METAL PRODUCTS		2,199,630
FOOD AND KINDRED PRODUCTS - 2.66%
5,844		Bunge Ltd		629,340
10,575		Campbell Soup Co		353,840
15,157		Coca-Cola Enterprises, Inc		262,216
23,630		ConAgra Foods, Inc		455,586
9,287	*	Constellation Brands, Inc (Class A)		184,440
3,483		Corn Products International, Inc		171,050
9,463		Del Monte Foods Co		67,187
12,210	*	Dr Pepper Snapple Group, Inc		256,166
15,272		H.J. Heinz Co		730,765
3,384	e*	Hansen Natural Corp		97,527
7,451	e	Hershey Co		244,244
3,604		Hormel Foods Corp		124,734
2,762		J.M. Smucker Co		112,248
5,453		McCormick & Co, Inc		194,454
5,706		Molson Coors Brewing Co (Class B)		310,007
6,943		Pepsi Bottling Group, Inc		193,849
2,925		PepsiAmericas, Inc		57,857
34,229		Sara Lee Corp		419,305
5,341	e*	Smithfield Foods, Inc		106,179

203

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
13,200		Tyson Foods, Inc (Class A)	$	197,208
		TOTAL FOOD AND KINDRED PRODUCTS		5,168,202
FOOD STORES - 0.59%
1,220	e*	Panera Bread Co (Class A)		56,437
21,383		Safeway, Inc		610,485
10,143	*	Supervalu, Inc		313,317
7,125	e	Whole Foods Market, Inc		168,791
		TOTAL FOOD STORES		1,149,030
FORESTRY - 0.35%
3,949		Rayonier, Inc		167,675
10,222		Weyerhaeuser Co		522,753
		TOTAL FORESTRY		690,428
FURNITURE AND FIXTURES - 0.25%
3,067	e	Hill-Rom Holdings, Inc		82,748
8,123	e	Leggett & Platt, Inc		136,223
17,529		Masco Corp		275,731
		TOTAL FURNITURE AND FIXTURES		494,702
FURNITURE AND HOMEFURNISHINGS STORES - 0.49%
12,545	e*	Bed Bath & Beyond, Inc		352,515
7,845	*	GameStop Corp (Class A)		316,938
2,600	e*	Mohawk Industries, Inc		166,660
3,003	e	Steelcase, Inc (Class A)		30,120
4,451	e	Williams-Sonoma, Inc		88,308
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		954,541
GENERAL BUILDING CONTRACTORS - 0.55%
5,841		Centex Corp		78,094
15,474	e	DR Horton, Inc		167,893
3,974	e	KB Home		67,280
6,659	e	Lennar Corp (Class A)		82,172
1,693		MDC Holdings, Inc		66,129
214	e*	NVR, Inc		107,017
10,611	e	Pulte Homes, Inc		102,184
6,065	e*	Toll Brothers, Inc		113,597
2,539		Walter Industries, Inc		276,167
		TOTAL GENERAL BUILDING CONTRACTORS		1,060,533
GENERAL MERCHANDISE STORES - 0.97%
4,077	e*	Big Lots, Inc		127,365
2,954	e*	BJ's Wholesale Club, Inc		114,320
6,896	e	Family Dollar Stores, Inc		137,506
10,752		JC Penney Co, Inc		390,190
20,174		Macy's, Inc		391,779
6,700	e*	Saks, Inc		73,566
20,583		TJX Cos, Inc		647,747
		TOTAL GENERAL MERCHANDISE STORES		1,882,473
HEALTH SERVICES - 2.03%
7,805		AmerisourceBergen Corp		312,122
2,023	e	Brookdale Senior Living, Inc		41,188
13,611		Cigna Corp		481,693

204

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,635	*	Community Health Systems, Inc	$	152,862
3,098	*	Covance, Inc		266,490
7,368	*	Coventry Health Care, Inc		224,135
5,182	*	DaVita, Inc		275,320
2,659	*	Edwards Lifesciences Corp		164,964
10,199	*	Express Scripts, Inc		639,681
11,753	e*	Health Management Associates, Inc (Class A)		76,512
5,492	*	Laboratory Corp of America Holdings		382,408
2,868	e*	LifePoint Hospitals, Inc		81,164
3,609	*	Lincare Holdings, Inc		102,496
5,164	e	Omnicare, Inc		135,400
2,338	*	Pediatrix Medical Group, Inc		115,100
5,198		Pharmaceutical Product Development, Inc		222,994
22,401	e*	Tenet Healthcare Corp		124,550
2,170		Universal Health Services, Inc (Class B)		137,187
		TOTAL HEALTH SERVICES		3,936,266
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.26%
6,986	*	Foster Wheeler Ltd		511,026
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		511,026
HOLDING AND OTHER INVESTMENT OFFICES - 8.10%
1,970	*	Affiliated Managers Group, Inc		177,418
1,435		Alexandria Real Estate Equities, Inc		139,683
7,650	e	Allied Capital Corp		106,259
4,823	e	AMB Property Corp		242,983
26,000		Annaly Mortgage Management, Inc		403,260
4,445	e	Apartment Investment & Management Co (Class A)		151,397
3,731	e	AvalonBay Communities, Inc		332,656
5,802	e	Boston Properties, Inc		523,456
4,348	e	Brandywine Realty Trust		68,524
2,375	e	BRE Properties, Inc (Class A)		102,790
2,479	e	Camden Property Trust		109,721
3,235	e	CBL & Associates Properties, Inc		73,887
5,807		Developers Diversified Realty Corp		201,561
3,204		Digital Realty Trust, Inc		131,076
5,730	e	Douglas Emmett, Inc		125,888
7,035		Duke Realty Corp		157,936
13,192		Equity Residential		504,858
1,217	e	Essex Property Trust, Inc		129,611
2,942	e	Federal Realty Investment Trust		202,998
11,222	e	General Growth Properties, Inc		393,107
11,130	e	HCP, Inc		354,045
4,422		Health Care REIT, Inc		196,779
4,521		Hospitality Properties Trust		110,584
25,317	e	Host Marriott Corp		345,577
10,450		HRPT Properties Trust		70,747
59,467	e	iShares Russell Midcap Index Fund		5,698,128
6,629	e	iStar Financial, Inc		87,569
1,533	e	Kilroy Realty Corp		72,097
10,400	e	Kimco Realty Corp		359,008
4,399	e	Liberty Property Trust		145,827
3,506	e	Macerich Co		217,828
3,184		Mack-Cali Realty Corp		108,797

205

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,670		Nationwide Health Properties, Inc	$	147,058
8,468	e	Plum Creek Timber Co, Inc		361,668
12,596		Prologis		684,593
6,148		Public Storage, Inc		496,697
3,427		Regency Centers Corp		202,604
2,840		SL Green Realty Corp		234,925
2,617	e	Taubman Centers, Inc		127,317
6,197	e	UDR, Inc		138,689
6,519		Ventas, Inc		277,514
13,879		Virgin Media, Inc		188,893
6,563		Vornado Realty Trust		577,544
3,011		WABCO Holdings, Inc		139,891
3,721	e	Weingarten Realty Investors		112,821
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		15,736,269
HOTELS AND OTHER LODGING PLACES - 0.77%
2,921	e	Boyd Gaming Corp		36,688
1,473	e	Choice Hotels International, Inc		39,035
14,008		Marriott International, Inc (Class A)		367,570
6,011	*	MGM Mirage		203,713
1,935	e	Orient-Express Hotels Ltd (Class A)		84,056
9,111		Starwood Hotels & Resorts Worldwide, Inc		365,078
8,845		Wyndham Worldwide Corp		158,414
2,987	e	Wynn Resorts Ltd		242,992
		TOTAL HOTELS AND OTHER LODGING PLACES		1,497,546
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.05%
4,463	*	AGCO Corp		233,906
3,061	e	Black & Decker Corp		176,038
18,246	*	Brocade Communications Systems, Inc		150,347
3,628		Bucyrus International, Inc (Class A)		264,917
3,006	e	Carlisle Cos, Inc		87,174
9,931		Cummins, Inc		650,679
3,186		Diebold, Inc		113,358
3,861		Donaldson Co, Inc		172,355
9,284		Dover Corp		449,067
4,103	*	Dresser-Rand Group, Inc		160,427
2,790		Flowserve Corp		381,393
6,282	*	FMC Technologies, Inc		483,274
2,639	*	Gardner Denver, Inc		149,895
3,091	e	Graco, Inc		117,674
3,807		IDEX Corp		140,250
15,201		Ingersoll-Rand Co Ltd (Class A)		568,975
15,007		International Game Technology		374,875
8,794		ITT Industries, Inc		556,924
9,988		Jabil Circuit, Inc		163,903
5,260		Joy Global, Inc		398,866
3,777		Kennametal, Inc		122,941
5,975	*	Lam Research Corp		215,996
2,452		Lennox International, Inc		71,010
4,599	*	Lexmark International, Inc (Class A)		153,745
6,144	e	Manitowoc Co, Inc		199,864
2,373	*	Oil States International, Inc		150,543
5,898		Pall Corp		234,033

206

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,227		Rockwell Automation, Inc	$	316,037
11,049	*	SanDisk Corp		206,616
3,139	e*	Scientific Games Corp (Class A)		92,977
23,879		Seagate Technology, Inc		456,805
2,535		SPX Corp		333,936
8,482	*	Teradata Corp		196,273
5,021	*	Terex Corp		257,929
4,001		Timken Co		131,793
1,977	e	Toro Co		65,775
6,250	*	Varian Medical Systems, Inc		324,063
10,748	*	Western Digital Corp		371,128
3,283	*	Zebra Technologies Corp (Class A)		107,157
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		9,802,918
INSTRUMENTS AND RELATED PRODUCTS - 4.59%
2,646	e*	Advanced Medical Optics, Inc		49,586
17,690	*	Agilent Technologies, Inc		628,703
14,896		Allergan, Inc		775,337
8,277		Applied Biosystems, Inc		277,114
4,812		Bard (C.R.), Inc		423,215
3,007		Beckman Coulter, Inc		203,063
2,088	e	Cooper Cos, Inc		77,569
7,212		Dentsply International, Inc		265,402
2,024	e	DRS Technologies, Inc		159,329
13,932	e	Eastman Kodak Co		201,039
6,657	*	Flir Systems, Inc		270,074
6,210	e	Garmin Ltd		266,036
2,877		Hillenbrand, Inc		61,568
12,399	*	Hologic, Inc		270,298
2,750	*	Illumina, Inc		239,553
1,876	*	Intuitive Surgical, Inc		505,394
1,602	*	Itron, Inc		157,557
8,225		Kla-Tencor Corp		334,840
1,669	*	Mettler-Toledo International, Inc		158,321
2,651	*	Millipore Corp		179,897
2,780		National Instruments Corp		78,869
5,796		PerkinElmer, Inc		161,419
10,050		Pitney Bowes, Inc		342,705
3,800	e*	Resmed, Inc		135,812
7,790		Rockwell Collins, Inc		373,608
4,304		Roper Industries, Inc		283,548
16,381	*	St. Jude Medical, Inc		669,655
1,963	*	Techne Corp		151,917
8,806	*	Teradyne, Inc		97,482
5,856	e*	Trimble Navigation Ltd		209,059
4,882	*	Waters Corp		314,889
43,582		Xerox Corp		590,972
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		8,913,830
INSURANCE AGENTS, BROKERS AND SERVICE - 0.88%
14,477		AON Corp		665,073
5,274		Brown & Brown, Inc		91,715
4,510	e	Gallagher (Arthur J.) & Co		108,691
24,790		Marsh & McLennan Cos, Inc		658,175

207

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
440		White Mountains Insurance Group Ltd	$	188,760
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		1,712,414
INSURANCE CARRIERS - 4.10%
246	e*	Alleghany Corp		81,684
2,348		Allied World Assurance Holdings Ltd		93,028
3,867		American Financial Group, Inc		103,442
745		American National Insurance Co		73,025
2,222	*	Arch Capital Group Ltd		147,363
5,853		Assurant, Inc		386,064
7,212		Axis Capital Holdings Ltd		214,990
7,058		Cincinnati Financial Corp		179,273
1,580		CNA Financial Corp		39,737
8,803	*	Conseco, Inc		87,326
2,590	e	Endurance Specialty Holdings Ltd		79,746
1,549	e	Erie Indemnity Co (Class A)		71,486
3,094		Everest Re Group Ltd		246,623
10,888	e	Fidelity National Title Group, Inc (Class A)		137,189
4,440	e	First American Corp		117,216
20,977		Genworth Financial, Inc (Class A)		373,600
2,494		Hanover Insurance Group, Inc		105,995
5,430		HCC Insurance Holdings, Inc		114,790
5,307	*	Health Net, Inc		127,686
8,109	*	Humana, Inc		322,495
8,511	e	Leucadia National Corp		399,506
12,247		Lincoln National Corp		555,034
495	*	Markel Corp		181,665
10,851	e	MBIA, Inc		47,636
1,320	e	Mercury General Corp		61,670
5,688	e	MGIC Investment Corp		34,754
2,237	e	Nationwide Financial Services, Inc (Class A)		107,398
10,837		Old Republic International Corp		128,310
1,290	e	OneBeacon Insurance Group Ltd		22,665
2,632		PartnerRe Ltd		181,950
2,688	*	Philadelphia Consolidated Holding Co		91,311
12,549		Principal Financial Group		526,682
32,281		Progressive Corp		604,300
3,280		Protective Life Corp		124,804
1,450		Reinsurance Group Of America, Inc		63,104
3,211		RenaissanceRe Holdings Ltd		143,435
4,344		Safeco Corp		291,743
2,450		Stancorp Financial Group, Inc		115,052
4,352		Torchmark Corp		255,245
1,319		Transatlantic Holdings, Inc		74,484
2,080		Unitrin, Inc		57,346
16,789		UnumProvident Corp		343,335
6,949		W.R. Berkley Corp		167,888
2,006	*	WellCare Health Plans, Inc		72,517
79		Wesco Financial Corp		30,178
8,781		XL Capital Ltd (Class A)		180,537
		TOTAL INSURANCE CARRIERS		7,965,307
LEATHER AND LEATHER PRODUCTS - 0.25%
16,537	*	Coach, Inc		477,589
		TOTAL LEATHER AND LEATHER PRODUCTS		477,589

208

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
LEGAL SERVICES - 0.09%
2,429	*	FTI Consulting, Inc	$	166,289
		TOTAL LEGAL SERVICES		166,289
METAL MINING - 0.47%
4,386		Cleveland-Cliffs, Inc		522,767
2,225		Foundation Coal Holdings, Inc		197,091
1,305	e*	Patriot Coal Corp		200,043
		TOTAL METAL MINING		919,901
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.57%
1,027	e	Armstrong World Industries, Inc		30,009
7,394		Fortune Brands, Inc		461,460
5,972		Hasbro, Inc		213,320
1,671	*	Intrepid Potash, Inc		109,918
17,540		Mattel, Inc		300,285
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,114,992
MISCELLANEOUS RETAIL - 0.71%
1,754	e	Barnes & Noble, Inc		43,569
3,776	e*	Dick's Sporting Goods, Inc		66,986
4,451	*	Dollar Tree, Inc		145,503
2,174		MSC Industrial Direct Co (Class A)		95,895
13,564	*	Office Depot, Inc		148,390
3,735	e	OfficeMax, Inc		51,917
5,938		Petsmart, Inc		118,463
1,867	*	Priceline.com, Inc		215,564
24,657	e*	Rite Aid Corp		39,205
2,861	*	Sears Holdings Corp		210,741
6,149	e	Tiffany & Co		250,572
		TOTAL MISCELLANEOUS RETAIL		1,386,805
MOTION PICTURES - 0.53%
28,404		CBS Corp (Class B)		553,594
13,568	*	Discovery Holding Co (Class A)		297,953
3,853	*	DreamWorks Animation SKG, Inc (Class A)		114,858
3,690	e	Regal Entertainment Group (Class A)		56,383
		TOTAL MOTION PICTURES		1,022,788
NONDEPOSITORY INSTITUTIONS - 1.00%
9,830		American Capital Strategies Ltd		233,659
5,862	e*	AmeriCredit Corp		50,530
7,319	e	CapitalSource, Inc		81,095
13,911	e	CIT Group, Inc		94,734
28,268		Countrywide Financial Corp		120,139
23,234		Discover Financial Services		305,992
2,100	e	GLG Partners, Inc		16,380
22,629	*	SLM Corp		437,871
211		Student Loan Corp		20,695
12,060		Textron, Inc		578,036
		TOTAL NONDEPOSITORY INSTITUTIONS		1,939,131

209

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
NONMETALLIC MINERALS, EXCEPT FUELS - 0.16%
5,279	e	Vulcan Materials Co	$	315,579
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		315,579
OIL AND GAS EXTRACTION - 6.63%
1,355	*	Atwood Oceanics, Inc		168,481
14,241		BJ Services Co		454,858
10,664	*	Cameron International Corp		590,252
4,037		Cimarex Energy Co		281,258
1,484	*	CNX Gas Corp		62,387
1,480	e*	Continental Resources, Inc		102,594
11,984	*	Denbury Resources, Inc		437,416
3,370		Diamond Offshore Drilling, Inc		468,902
2,583	*	Encore Acquisition Co		194,216
6,996		ENSCO International, Inc		564,857
6,457		Equitable Resources, Inc		445,920
3,118	*	Exterran Holdings, Inc		222,906
4,287	e*	Forest Oil Corp		319,382
5,586	*	Global Industries Ltd		100,157
4,425	e*	Helix Energy Solutions Group, Inc		184,257
5,043		Helmerich & Payne, Inc		363,197
4,305	*	Hercules Offshore, Inc		163,676
6,071	*	Key Energy Services, Inc		117,899
4,169	*	Mariner Energy, Inc		154,128
13,643	e*	Nabors Industries Ltd		671,645
12,974	d	Noble Corp		842,791
2,690	*	Oceaneering International, Inc		207,265
7,443	e	Patterson-UTI Energy, Inc		268,246
10,566	*	PetroHawk Energy Corp		489,311
5,794		Pioneer Natural Resources Co		453,554
5,263	*	Plains Exploration & Production Co		384,041
8,044	*	Pride International, Inc		380,401
4,966	e*	Quicksilver Resources, Inc		191,886
7,479		Range Resources Corp		490,174
5,566		Rowan Cos, Inc		260,211
1,092	e*	SEACOR Holdings, Inc		97,745
9,699		Smith International, Inc		806,375
16,656	*	Southwestern Energy Co		792,992
3,036		St. Mary Land & Exploration Co		196,247
3,908	*	Superior Energy Services		215,487
3,349	*	Tetra Technologies, Inc		79,405
2,573		Tidewater, Inc		167,322
2,294	*	Unit Corp		190,333
1,390	e	W&T Offshore, Inc		81,329
2,052	*	Whiting Petroleum Corp		217,676
		TOTAL OIL AND GAS EXTRACTION		12,881,179
PAPER AND ALLIED PRODUCTS - 0.71%
5,136	e	Bemis Co		115,149
22,190	*	Domtar Corporation		120,936
1,569		Greif, Inc (Class A)		100,463
20,165		International Paper Co		469,845
8,770	e	MeadWestvaco Corp		209,077
4,854		Packaging Corp of America		104,410

210

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
13,550	*	Smurfit-Stone Container Corp	$	55,149
4,856		Sonoco Products Co		150,293
5,176	e	Temple-Inland, Inc		58,334
		TOTAL PAPER AND ALLIED PRODUCTS		1,383,656
PERSONAL SERVICES - 0.36%
6,416		Cintas Corp		170,088
15,634		H&R Block, Inc		334,568
12,402		Service Corp International		122,284
1,742	e	Weight Watchers International, Inc		62,033
		TOTAL PERSONAL SERVICES		688,973
PETROLEUM AND COAL PRODUCTS - 1.78%
2,809		Ashland, Inc		135,394
4,718		Cabot Oil & Gas Corp		319,550
5,122		Frontier Oil Corp		122,467
1,885		Holly Corp		69,594
9,153		Murphy Oil Corp		897,452
6,289	*	Newfield Exploration Co		410,357
8,343		Noble Energy, Inc		838,972
4,470	e*	SandRidge Energy, Inc		288,673
5,662		Sunoco, Inc		230,387
6,915	e	Tesoro Corp		136,710
		TOTAL PETROLEUM AND COAL PRODUCTS		3,449,556
PIPELINES, EXCEPT NATURAL GAS - 0.46%
30,936		Spectra Energy Corp		889,101
		TOTAL PIPELINES, EXCEPT NATURAL GAS		889,101
PRIMARY METAL INDUSTRIES - 1.27%
5,401		AK Steel Holding Corp		372,669
4,987	e	Allegheny Technologies, Inc		295,629
2,392		Carpenter Technology Corp		104,411
1,426	*	Century Aluminum Co		94,815
3,375	e*	CommScope, Inc		178,099
2,584	*	General Cable Corp		157,236
2,870		Hubbell, Inc (Class B)		114,427
6,746		Precision Castparts Corp		650,112
1,046		Schnitzer Steel Industries, Inc (Class A)		119,872
8,214		Steel Dynamics, Inc		320,921
3,861	e	Titanium Metals Corp		54,015
		TOTAL PRIMARY METAL INDUSTRIES		2,462,206
PRINTING AND PUBLISHING - 1.07%
2,770		Dun & Bradstreet Corp		242,763
4,389	e*	EW Scripps Co (Class A)		182,319
11,080	e	Gannett Co, Inc		240,104
1,952		John Wiley & Sons, Inc (Class A)		87,899
15,570		McGraw-Hill Cos, Inc		624,668
1,912	e	Meredith Corp		54,090
2,135	*	MSCI, Inc		77,479
6,934	e	New York Times Co (Class A)		106,714
10,290		R.R. Donnelley & Sons Co		305,510

211

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
278		Washington Post Co (Class B)	$	163,158
		TOTAL PRINTING AND PUBLISHING		2,084,704
RAILROAD TRANSPORTATION - 0.09%
3,750	*	Kansas City Southern Industries, Inc		164,963
		TOTAL RAILROAD TRANSPORTATION		164,963
REAL ESTATE - 0.26%
8,050	e*	CB Richard Ellis Group, Inc (Class A)		154,560
3,522	e	Forest City Enterprises, Inc (Class A)		113,479
1,536		Jones Lang LaSalle, Inc		92,452
4,293	e	St. Joe Co		147,336
		TOTAL REAL ESTATE		507,827
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.30%
11,983	*	Goodyear Tire & Rubber Co		213,657
13,354		Newell Rubbermaid, Inc		224,214
7,620	e	Sealed Air Corp		144,856
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		582,727
SECURITY AND COMMODITY BROKERS - 2.45%
10,748		Ameriprise Financial, Inc		437,121
6,665		Broadridge Financial Solutions, Inc		140,298
5,922	*	Corrections Corp of America		162,677
20,972	e*	E*Trade Financial Corp		65,852
4,998		Eaton Vance Corp		198,720
4,082		Federated Investors, Inc (Class B)		140,502
3,477	*	IntercontinentalExchange, Inc		396,378
19,090		Invesco Ltd		457,778
2,268	*	Investment Technology Group, Inc		75,887
8,085		Janus Capital Group, Inc		214,010
6,349	e	Jefferies Group, Inc		106,790
2,497		Lazard Ltd (Class A)		85,273
6,624		Legg Mason, Inc		288,608
4,830	e*	MF Global Ltd		30,477
782	*	Morningstar, Inc		56,327
6,810	e*	Nasdaq Stock Market, Inc		180,806
4,478	e	Nymex Holdings, Inc		378,301
4,535	e	Raymond James Financial, Inc		119,679
6,236		SEI Investments Co		146,671
12,630		T Rowe Price Group, Inc		713,216
12,032	*	TD Ameritrade Holding Corp		217,659
4,174		Waddell & Reed Financial, Inc (Class A)		146,132
		TOTAL SECURITY AND COMMODITY BROKERS		4,759,162
SPECIAL TRADE CONTRACTORS - 0.14%
8,321	*	Quanta Services, Inc		276,840
		TOTAL SPECIAL TRADE CONTRACTORS		276,840
STONE, CLAY, AND GLASS PRODUCTS - 0.35%
2,049	e	Eagle Materials, Inc		51,901
6,762		Gentex Corp		97,643
3,692	e*	Owens Corning, Inc		83,993
8,054	*	Owens-Illinois, Inc		335,771

212

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,438	e*	USG Corp	$	101,662
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		670,970
TOBACCO PRODUCTS - 0.51%
8,517	*	Lorillard, Inc		589,036
7,238	e	UST, Inc		395,267
		TOTAL TOBACCO PRODUCTS		984,303
TRANSPORTATION BY AIR - 0.40%
11,772	e*	AMR Corp		60,273
5,028	e*	Continental Airlines, Inc (Class B)		50,833
1,325		Copa Holdings S.A. (Class A)		37,312
14,103	*	Delta Air Lines, Inc		80,387
12,899	*	Northwest Airlines Corp		85,907
35,461		Southwest Airlines Co		462,411
		TOTAL TRANSPORTATION BY AIR		777,123
TRANSPORTATION EQUIPMENT - 1.44%
3,555		Autoliv, Inc		165,734
4,465	*	BE Aerospace, Inc		103,990
104,025	e*	Ford Motor Co		500,360
23,631		General Motors Corp		271,757
7,939		Genuine Parts Co		315,020
6,063		Goodrich Corp		287,750
11,571	e	Harley-Davidson, Inc		419,564
3,988		Harsco Corp		216,987
3,592		Oshkosh Truck Corp		74,318
6,253	*	Pactiv Corp		132,751
4,905	*	Spirit Aerosystems Holdings, Inc (Class A)		94,078
1,785	e	Thor Industries, Inc		37,949
4,018	e	Trinity Industries, Inc		139,384
2,255	*	TRW Automotive Holdings Corp		41,650
		TOTAL TRANSPORTATION EQUIPMENT		2,801,292
TRANSPORTATION SERVICES - 0.57%
8,194		CH Robinson Worldwide, Inc		449,359
10,519	e	Expeditors International Washington, Inc		452,317
2,295		GATX Corp		101,737
4,806		UTI Worldwide, Inc		95,880
		TOTAL TRANSPORTATION SERVICES		1,099,293
TRUCKING AND WAREHOUSING - 0.20%
2,221	e	Con-way, Inc		104,964
4,116	e	J.B. Hunt Transport Services, Inc		136,980
2,622		Landstar System, Inc		144,787
		TOTAL TRUCKING AND WAREHOUSING		386,731
WATER TRANSPORTATION - 0.36%
2,068	e	Alexander & Baldwin, Inc		94,197
2,350	e	Frontline Ltd		163,983
2,545	*	Kirby Corp		122,160
1,184		Overseas Shipholding Group, Inc		94,152
6,454	e	Royal Caribbean Cruises Ltd		145,021
1,897	e	Teekay Corp		85,706
		TOTAL WATER TRANSPORTATION		705,219

213

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Mid-Cap Blend Index Fund
SHARES		COMPANY		VALUE
WHOLESALE TRADE-DURABLE GOODS - 0.91%
6,017	*	Arrow Electronics, Inc	$	184,842
5,622		BorgWarner, Inc		249,504
7,306	*	Ingram Micro, Inc (Class A)		129,682
6,565	*	LKQ Corp		118,630
2,063	e	Martin Marietta Materials, Inc		213,706
6,259	*	Patterson Cos, Inc		183,952
3,038		Reliance Steel & Aluminum Co		234,199
2,592	*	Tech Data Corp		87,843
3,433		W.W. Grainger, Inc		280,819
2,080	*	WESCO International, Inc		83,283
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,766,460
WHOLESALE TRADE-NONDURABLE GOODS - 0.80%
4,012		Airgas, Inc		234,261
2,652	e*	Bare Escentuals, Inc		49,672
3,881		Brown-Forman Corp (Class B)		293,287
1,829	*	Central European Distribution Corp		135,620
6,583	*	Dean Foods Co		129,158
5,834	*	Endo Pharmaceuticals Holdings, Inc		141,124
4,340	*	Henry Schein, Inc		223,814
3,115	e	Herbalife Ltd		120,706
4,430		Terra Industries, Inc		218,625
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,546,267
		TOTAL COMMON STOCKS		191,373,042
		(Cost $187,777,779)
PRINCIPAL		ISSUER
SHORT -TERM INVESTMENTS - 22.25%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.36%
$      2,640,000		Federal Home Loan Bank (FHLB) , 07/01/08		2,640,000
				2,640,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 20.89%
40,568,004		State Street Navigator Securities Lending Prime Portfolio		40,568,004
				40,568,004
		TOTAL SHORT-TERM INVESTMENTS		43,208,004
		(Cost $43,208,004)
		TOTAL PORTFOLIO - 120.78%
		(Cost $230,985,783)		234,581,046
		OTHER ASSETS & LIABILITIES, NET - (20.78)%		(40,350,941	)
		NET ASSETS - 100.00%	$	194,230,105
		The following abbreviation is used in portfolio descriptions:
		REIT - Real Estate Investment Trust
	*	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 $181,889.
	e	All or a portion of these securities are out on loan.
		At June 30, 2008, the unrealized appreciation on investments was $3,595,263, consisting of
		gross unrealized appreciation of $26,397,500 and gross unrealized depreciation of $22,802,237.

214

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

	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE	DATE	(DEPRECIATION)
E-mini S&P 400 Index	27	$ 2,217,240	September 2008	$ (92,855)

215

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP GROWTH INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.89%
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.08%
2,889	e	Cal-Maine Foods, Inc	$	95,308
1,038		Pilgrim's Pride Corp		13,484
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		108,792
AGRICULTURAL SERVICES - 0.06%
3,062	e*	Cadiz, Inc		49,359
2,534		Calavo Growers, Inc		31,042
		TOTAL AGRICULTURAL SERVICES		80,401
AMUSEMENT AND RECREATION SERVICES - 1.19%
13,371	e*	Bally Technologies, Inc		451,940
3,259	e	Dover Downs Gaming & Entertainment, Inc		20,923
3,704		Dover Motorsports, Inc		18,853
8,052	*	Leapfrog Enterprises, Inc		66,993
8,513	e*	Life Time Fitness, Inc		251,559
11,959	e*	Marvel Entertainment, Inc		384,362
4,333	e*	Town Sports International Holdings, Inc		40,470
10,995	e*	WMS Industries, Inc		327,321
5,200	e	World Wrestling Entertainment, Inc		80,444
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,642,865
APPAREL AND ACCESSORY STORES - 1.29%
16,350	e*	Aeropostale, Inc		512,246
2,117	e	Bebe Stores, Inc		20,344
3,780		Buckle, Inc		172,859
1,830	e*	Cache, Inc		19,581
1,573		Cato Corp (Class A)		22,400
852	e*	Charlotte Russe Holding, Inc		15,132
13,380	*	Chico's FAS, Inc		71,851
5,978	e	Christopher & Banks Corp		40,650
3,518	*	Citi Trends, Inc		79,718
1,932	e*	DSW, Inc (Class A)		22,759
3,271	e	Finish Line, Inc (Class A)		28,458
10,356	e*	J Crew Group, Inc		341,852
984	e*	JOS A Bank Clothiers, Inc		26,322
1,035	*	New York & Co, Inc		9,450
4,840	*	Tween Brands, Inc		79,666
8,055	e*	Under Armour, Inc (Class A)		206,530
22,498	e*	Wet Seal, Inc (Class A)		107,315
		TOTAL APPAREL AND ACCESSORY STORES		1,777,133
APPAREL AND OTHER TEXTILE PRODUCTS - 0.73%
2,451	e*	G-III Apparel Group Ltd		30,245
5,020	*	Gymboree Corp		201,151
4,400	e*	Lululemon Athletica, Inc		127,864

216

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,013	*	Maidenform Brands, Inc	$	40,676
4,170	e*	True Religion Apparel, Inc		111,131
11,287	e*	Warnaco Group, Inc		497,418
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,008,485
AUTO REPAIR, SERVICES AND PARKING - 0.45%
18,879	*	Exide Technologies		316,412
3,536	e*	Midas, Inc		47,736
522	e	Monro Muffler, Inc		8,086
1,730	*	Standard Parking Corp		31,486
8,935	*	Wright Express Corp		221,588
		TOTAL AUTO REPAIR, SERVICES AND PARKING		625,308
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.08%
10,767	e*	CSK Auto Corp		112,838
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		112,838
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.02%
2,295	*	Lumber Liquidators, Inc		29,835
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		29,835
BUSINESS SERVICES - 14.00%
4,335	e*	3D Systems Corp		41,183
8,398	e*	ACI Worldwide, Inc		147,721
14,972	e*	Actuate Corp		58,541
5,270	e	Administaff, Inc		146,980
4,075	e*	Advent Software, Inc		147,026
8,899	e*	American Reprographics Co		148,168
3,634		American Software, Inc (Class A)		20,496
7,631	*	AMN Healthcare Services, Inc		129,117
3,671	*	Ansoft Corp		133,624
6,667	e	Arbitron, Inc		316,683
990	e*	ArcSight, Inc		8,712
17,947	*	Ariba, Inc		264,000
31,490	e*	Art Technology Group, Inc		100,768
2,917		Asset Acceptance Capital Corp		35,646
5,047	*	athenahealth, Inc		155,246
3,110	e*	Bankrate, Inc		121,508
1,090	*	BGC Partners, Inc (Class A)		8,230
10,110	e	Blackbaud, Inc		216,354
7,770	*	Blackboard, Inc		297,047
8,099	e*	Blue Coat Systems, Inc		114,277
14,650	e*	BPZ Energy, Inc		430,710
1,516	*	CACI International, Inc (Class A)		69,387
1,278	*	CAI International, Inc		22,237
7,359	*	Callidus Software, Inc		36,795
3,618	*	Capella Education Co		215,814
7,403	e*	Cavium Networks, Inc		155,463
10,935	e*	CBIZ, Inc		86,933
8,166	e*	Chordiant Software, Inc		40,830
2,534	*	Clinical Data, Inc		36,160
11,631	e*	Cogent Communications Group, Inc		155,855
6,075	e*	Cogent, Inc		69,073
10,242	e	Cognex Corp		236,078

217

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
10,450	e*	Commvault Systems, Inc	$	173,888
3,447	*	Compellent Technologies, Inc		39,089
1,871		Computer Programs & Systems, Inc		32,424
10,771	e*	Concur Technologies, Inc		357,920
4,967	e*	Constant Contact, Inc		93,628
4,772	e*	CoStar Group, Inc		212,115
4,635	e*	CSG Systems International, Inc		51,078
16,861	e*	Cybersource Corp		282,085
8,073	e*	Data Domain, Inc		188,343
7,611	e*	DealerTrack Holdings, Inc		107,391
2,840	e*	Deltek, Inc		21,527
6,546		Deluxe Corp		116,650
3,844	e*	Dice Holdings, Inc		31,751
4,654	*	Digimarc Corp		65,901
9,282	e*	Digital River, Inc		358,100
6,590	*	DivX, Inc		48,371
4,220	e*	Double-Take Software, Inc		57,983
616	e*	DynCorp International, Inc (Class A)		9,332
26,829	*	Earthlink, Inc		232,071
494	*	Ebix, Inc		38,394
7,251	e*	Echelon Corp		79,036
13,284	e*	Eclipsys Corp		243,894
14,991	*	Entrust, Inc		44,074
6,017	e*	EPIQ Systems, Inc		85,441
20,717	e*	Evergreen Energy, Inc		36,048
3,747	e*	ExlService Holdings, Inc		52,570
9,326	e*	FalconStor Software, Inc		66,028
3,796	e*	Forrester Research, Inc		117,220
14,707	e*	Gartner, Inc		304,729
6,331	e*	Global Cash Access, Inc		43,431
4,083	e*	Global Sources Ltd		61,980
2,894	*	Global Traffic Network, Inc		25,872
2,284	e*	Guidance Software, Inc		21,812
10,062	*	Hackett Group, Inc		57,756
10,519	e	Healthcare Services Group		159,994
5,965	e	Heartland Payment Systems, Inc		140,774
6,108	e*	HMS Holdings Corp		131,139
2,500	e*	HSW International, Inc		7,250
5,662	*	Hudson Highland Group, Inc		59,281
9,555	*	Hypercom Corp		42,042
1,062	e*	ICT Group, Inc		8,708
5,573	*	iGate Corp		45,308
21,636	*	Informatica Corp		325,405
4,851		Infospace, Inc		40,409
7,724	e*	Innerworkings, Inc		92,379
2,070	e	Integral Systems, Inc		80,109
4,214		Interactive Data Corp		105,898
3,169	e*	Interactive Intelligence, Inc		36,887
6,638	e*	Internap Network Services Corp		31,066
2,402	*	Internet Brands, Inc		15,925
5,830	*	Internet Capital Group, Inc		45,066
9,419	*	Interwoven, Inc		113,122
8,074	e*	inVentiv Health, Inc		224,376
17,207	e	Jack Henry & Associates, Inc		372,359

218

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
665	*	JDA Software Group, Inc	$	12,037
4,456	e*	Kenexa Corp		83,951
645	*	Keynote Systems, Inc		8,308
1,219	*	Kforce, Inc		10,349
6,893	e*	Knot, Inc		67,414
872	*	Korn/Ferry International		13,717
30,833	*	Lawson Software, Inc		224,156
4,410	e*	Limelight Networks, Inc		16,846
3,579	*	Liquidity Services, Inc		41,266
10,237	e*	Magma Design Automation, Inc		62,139
6,022	e*	Manhattan Associates, Inc		142,902
5,186	*	Mantech International Corp (Class A)		249,550
5,823	e	Marchex, Inc (Class B)		71,739
1,570	e*	Mentor Graphics Corp		24,806
2,210	e*	MicroStrategy, Inc (Class A)		143,098
6,156	e*	Midway Games, Inc		13,543
2,603	e*	Monotype Imaging Holdings, Inc		31,705
31,354	e*	Move, Inc		73,055
1,590	*	NCI, Inc (Class A)		36,379
1,208	e*	Ness Technologies, Inc		12,225
9,861	e*	NetFlix, Inc		257,076
6,079	*	Netscout Systems, Inc		64,924
1,736	e*	NetSuite, Inc		35,536
10,260	e	NIC, Inc		70,076
15,249	e*	Omniture, Inc		283,174
6,755	e*	Online Resources Corp		56,404
4,743	e*	OpenTV Corp (Class A)		6,213
2,912	*	Opnet Technologies, Inc		26,208
27,179	e*	Parametric Technology Corp		453,074
3,166		PC-Tel, Inc		30,362
3,529		Pegasystems, Inc		47,500
2,514	*	PeopleSupport, Inc		21,369
10,459	*	Phase Forward, Inc		187,948
6,719	*	Phoenix Technologies Ltd		73,909
2,476	e*	Portfolio Recovery Associates, Inc		92,850
12,958	*	Premiere Global Services, Inc		188,928
9,354	*	Progress Software Corp		239,182
3,144	*	PROS Holdings, Inc		35,307
837	e*	Protection One, Inc		7,031
3,038	e	QAD, Inc		20,567
4,276	e	Quality Systems, Inc		125,201
6,756	*	Radiant Systems, Inc		72,492
6,650	e*	Raser Technologies, Inc		64,771
8,868	*	RealNetworks, Inc		58,529
2,440	e	Renaissance Learning, Inc		27,352
6,797	*	RightNow Technologies, Inc		92,915
5,248	e*	Riskmetrics Group Inc		103,071
10,163	e	Rollins, Inc		150,616
11,496	e*	RSC Holdings, Inc		106,453
9,088	*	S1 Corp		68,796
21,461	e*	Sapient Corp		137,780
2,363	e*	Secure Computing Corp		9,783
7,107	e*	Smith Micro Software, Inc		40,510
2,507	e*	SonicWALL, Inc		16,170

219

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
50,097	e*	Sonus Networks, Inc	$	171,332
16,463	e	Sotheby's		434,129
3,946	e*	Sourcefire, Inc		30,503
5,499	*	Spherion Corp		25,405
4,361	e*	SPSS, Inc		158,610
5,572	e*	SRA International, Inc (Class A)		125,147
5,042	*	Stratasys, Inc		93,075
5,588	e*	SuccessFactors, Inc		61,189
7,734	*	SupportSoft, Inc		25,136
16,317	e*	Sybase, Inc		480,046
8,062	e*	SYKES Enterprises, Inc		152,049
5,365	e*	Synchronoss Technologies, Inc		48,446
3,153	e	Syntel, Inc		106,319
18,788	*	Take-Two Interactive Software, Inc		480,409
984	e	TAL International Group, Inc		22,376
5,508	e*	Taleo Corp (Class A)		107,902
3,403	*	TechTarget, Inc		35,936
9,550	*	TeleTech Holdings, Inc		190,618
1,050	e	Textainer Group Holdings Ltd		20,507
3,364	e	TheStreet.com, Inc		21,900
11,321	e*	THQ, Inc		229,363
5,377	*	TNS, Inc		128,833
7,861	e*	TradeStation Group, Inc		79,789
10,541	e*	Trizetto Group, Inc		225,367
1,148	e*	TrueBlue, Inc		15,165
6,014	e*	Ultimate Software Group, Inc		214,279
3,417	e*	Unica Corp		27,473
23,260	e*	Valueclick, Inc		352,389
6,560	e*	Vasco Data Security International		69,077
2,911	e*	Vignette Corp		34,932
1,570	*	Virtusa Corp		15,904
3,925	*	Vocus, Inc		126,267
10,331	*	Websense, Inc		173,974
1,542	*	Website Pros, Inc		12,845
17,601	*	Wind River Systems, Inc		191,675
		TOTAL BUSINESS SERVICES		19,301,719
CHEMICALS AND ALLIED PRODUCTS - 9.81%
8,615	e*	Acadia Pharmaceuticals, Inc		31,789
7,983	e*	Acorda Therapeutics, Inc		262,082
1,995	*	Acura Pharmaceuticals, Inc		15,860
11,247	*	Adolor Corp		61,634
1,910	*	Albany Molecular Research, Inc		25,346
9,500	d,e*	Alexion Pharmaceuticals, Inc		688,750
5,680	e*	Alexza Pharmaceuticals, Inc		22,379
23,355	e*	Alkermes, Inc		288,668
12,953	e*	Allos Therapeutics, Inc		89,505
8,696	e*	Alnylam Pharmaceuticals, Inc		232,444
5,932	*	Alpharma, Inc (Class A)		133,648
4,152	e*	AMAG Pharmaceuticals, Inc		141,583
15,089	*	American Oriental Bioengineering, Inc		148,928
4,233	e	American Vanguard Corp		52,066
649	e*	Amicus Therapeutics, Inc		6,931
2,073		Arch Chemicals, Inc		68,720

220

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,638	*	Ardea Biosciences, Inc	$	33,819
4,772	*	Arena Pharmaceuticals, Inc		24,767
9,912	e*	Arqule, Inc		32,214
11,631	e*	Array Biopharma, Inc		54,666
10,296	e*	Auxilium Pharmaceuticals, Inc		346,152
3,647	*	Avant Immunotherapeutics, Inc		53,100
2,545	e*	Aventine Renewable Energy Holdings, Inc		11,198
4,429	e	Balchem Corp		102,443
4,715	*	Bentley Pharmaceuticals, Inc		76,147
2,622	e*	Biodel, Inc		34,086
2,480	e*	BioForm Medical, Inc		10,019
3,244	e*	BioMimetic Therapeutics, Inc		38,668
4,315	e*	Cadence Pharmaceuticals, Inc		26,278
9,999	*	Calgon Carbon Corp		154,585
4,067	*	Cambrex Corp		23,873
2,259	e*	Caraco Pharmaceutical Laboratories Ltd		29,819
20,995	e*	Cell Genesys, Inc		54,587
3,947	e*	Chattem, Inc		256,752
11,426	*	Columbia Laboratories, Inc		37,706
3,646	*	Cougar Biotechnology, Inc		86,884
13,783	e*	Cubist Pharmaceuticals, Inc		246,164
7,892	e*	Cypress Bioscience, Inc		56,743
6,464	e*	Cytokinetics, Inc		23,981
4,862	*	Cytori Therapeutics, Inc		31,506
22,783	e*	Dendreon Corp		101,384
24,277	e*	Discovery Laboratories, Inc		40,057
18,940	e*	Durect Corp		69,510
2,457	*	Emergent Biosolutions, Inc		24,398
10,930	e*	Enzon Pharmaceuticals, Inc		77,822
9,350		Ferro Corp		175,406
13,258	e*	Geron Corp		45,740
4,548	e*	GTx, Inc		65,264
14,907	e*	Halozyme Therapeutics, Inc		80,200
15,803	e	Hercules, Inc		267,545
4,527	e*	Human Genome Sciences, Inc		23,586
2,586	*	ICO, Inc		15,568
6,128	e*	Idenix Pharmaceuticals, Inc		44,551
5,020	*	Idera Pharmaceuticals, Inc		73,342
17,427	*	Immucor, Inc		451,011
12,022	*	Immunogen, Inc		36,787
18,932	e*	Indevus Pharmaceuticals, Inc		29,723
1,486	e	Innophos Holdings, Inc		47,478
3,518		Innospec, Inc		66,209
10,326	*	Inspire Pharmaceuticals, Inc		44,195
374	e	Inter Parfums, Inc		5,610
7,722	e*	InterMune, Inc		101,313
12,377	e*	Javelin Pharmaceuticals, Inc		28,715
1,010	e*	Jazz Pharmaceuticals, Inc		7,484
391		Koppers Holdings, Inc		16,371
8,201	e*	KV Pharmaceutical Co (Class A)		158,525
5,805	e*	Landec Corp		37,558
20,062	e*	Ligand Pharmaceuticals, Inc (Class B)		52,161
1,199	e	Mannatech, Inc		6,523
6,591	*	MannKind Corp		19,773

221

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,906	e*	MAP Pharmaceuticals, Inc	$	19,689
4,757	*	Marshall Edwards, Inc		12,225
8,034	*	Martek Biosciences Corp		270,826
31,197	e*	Medarex, Inc		206,212
12,709	e*	Medicines Co		251,892
13,794	e	Medicis Pharmaceutical Corp (Class A)		286,639
6,230	e*	Medivation, Inc		73,701
9,816	e	Meridian Bioscience, Inc		264,247
8,770	*	MiddleBrook Pharmaceuticals, Inc		29,643
2,123		Minerals Technologies, Inc		135,002
4,323	e*	Molecular Insight Pharmaceuticals, Inc		23,820
5,999	e*	Momenta Pharmaceuticals, Inc		73,788
2,544	e*	Nabi Biopharmaceuticals		10,023
3,159	e*	Nanosphere, Inc		24,830
9,380	e*	Neurocrine Biosciences, Inc		39,302
3,293	e	NewMarket Corp		218,095
990		NL Industries, Inc		9,435
12,749	*	Novavax, Inc		31,745
6,070	e*	Noven Pharmaceuticals, Inc		64,888
11,550	*	NPS Pharmaceuticals, Inc		51,398
4,332	e*	Obagi Medical Products, Inc		37,039
3,495	e*	Omrix Biopharmaceuticals, Inc		55,011
13,814	e*	Onyx Pharmaceuticals, Inc		491,778
11,714	*	Opko Health, Inc		17,805
5,908	*	Optimer Pharmaceuticals, Inc		47,914
9,690	e*	OraSure Technologies, Inc		36,241
4,891	e*	Orexigen Therapeutics, Inc		38,590
14,179	e*	OSI Pharmaceuticals, Inc		585,876
3,652	e*	Osiris Therapeutics, Inc		46,928
9,993	e*	Pacific Ethanol, Inc		18,087
8,785	e*	Pain Therapeutics, Inc		69,402
14,145	*	Parexel International Corp		372,155
29,161		PDL BioPharma, Inc		309,690
5,797	e*	PetMed Express, Inc		71,013
3,826	*	Pharmasset, Inc		72,235
1,006	e*	Poniard Pharmaceuticals, Inc		4,265
6,580	e*	Pozen, Inc		71,590
6,709	e*	Progenics Pharmaceuticals, Inc		106,472
2,651	e*	Protalix BioTherapeutics, Inc		7,184
14,930	*	Questcor Pharmaceuticals, Inc		69,275
6,883	e*	Quidel Corp		113,707
7,124	*	Rexahn Pharmaceuticals, Inc		23,082
1,981	e*	Santarus, Inc		3,982
7,657	e	Sciele Pharma, Inc		148,163
11,418	*	Solutia, Inc		146,379
639		Stepan Co		29,151
2,233	e*	Sucampo Pharmaceuticals, Inc		23,960
3,766	e*	SurModics, Inc		168,867
4,089	e*	Synta Pharmaceuticals Corp		24,943
4,436	*	Targacept, Inc		32,250
4,763	e*	Tercica, Inc		42,057
12,649	*	Theravance, Inc		150,144
10,775	*	Third Wave Technologies, Inc		120,249
859	e*	Trubion Pharmaceuticals, Inc		3,831

222

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,959	e*	Ulta Salon Cosmetics & Fragrance, Inc	$	55,739
5,503	*	United Therapeutics Corp		537,918
1,785	e*	USANA Health Sciences, Inc		47,963
8,306	*	USEC, Inc		50,500
8,383	e*	Valeant Pharmaceuticals International		143,433
13,883	e*	WR Grace & Co		326,112
6,142	e*	Xenoport, Inc		239,722
32,340	e*	XOMA Ltd		54,655
9,112	e*	Zymogenetics, Inc		76,723
		TOTAL CHEMICALS AND ALLIED PRODUCTS		13,519,779
COAL MINING - 0.63%
31,089	e*	International Coal Group, Inc		405,711
6,339	*	James River Coal Co		372,036
5,756	*	National Coal Corp		51,056
2,129	*	Westmoreland Coal Co		44,943
		TOTAL COAL MINING		873,746
COMMUNICATIONS - 1.89%
5,426		Alaska Communications Systems Group, Inc		64,786
621	e*	Anixter International, Inc		36,943
12,780	e*	Aruba Networks, Inc		66,839
5,852	e*	Cbeyond Communications, Inc		93,749
14,086	*	Centennial Communications Corp		98,461
42,997	*	Charter Communications, Inc (Class A)		45,147
2,273	e	Consolidated Communications Holdings, Inc		33,845
2,165	e*	Crown Media Holdings, Inc (Class A)		10,262
3,328	*	DG FastChannel, Inc		57,408
6,175	*	Entravision Communications Corp (Class A)		24,824
10,017	*	Foundry Networks, Inc		118,401
525	e*	GeoEye, Inc		9,298
2,136	e*	Global Crossing Ltd		38,320
1,755	e*	Hughes Communications, Inc		86,153
1,173	e*	Hungarian Telephone & Cable		21,396
9,222	e*	ICO Global Communications Holdings Ltd		30,064
946		Iowa Telecommunications Services, Inc		16,659
1,438	e*	iPCS, Inc		42,608
10,853	e*	j2 Global Communications, Inc		249,619
9,404	e*	Mastec, Inc		100,247
4,069	*	Neutral Tandem, Inc		71,208
11,850	*	Nextwave Wireless, Inc		47,874
3,648	e*	Novatel Wireless, Inc		40,602
7,308		NTELOS Holdings Corp		185,404
7,067	e*	Orbcomm, Inc		40,282
22,681	e*	PAETEC Holding Corp		144,024
4,903	*	RCN Corp		52,854
1,140	e*	Rural Cellular Corp (Class A)		50,741
9,181	e*	SAVVIS, Inc		118,527
5,184	e	Shenandoah Telecom Co		67,496
5,436	e	Sinclair Broadcast Group, Inc (Class A)		41,314
5,014	e*	Switch & Data Facilities Co, Inc		85,188
6,007	*	Syniverse Holdings, Inc		97,313
8,233	*	TeleCommunication Systems, Inc		38,119
12,908	e*	Terremark Worldwide, Inc		70,478

223

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,267	*	TerreStar Corp	$	16,983
24,904	e*	TiVo, Inc		153,658
7,414	e*	Virgin Mobile USA, Inc		20,389
12,037	e*	Vonage Holdings Corp		19,981
		TOTAL COMMUNICATIONS		2,607,464
DEPOSITORY INSTITUTIONS - 0.93%
3,717		Cardinal Financial Corp		23,268
1,634	e	Cass Information Systems, Inc		52,337
5,924	e*	Dollar Financial Corp		89,512
1,532	e	Enterprise Financial Services Corp		28,878
881	e	First Financial Bankshares, Inc		40,359
368		Hancock Holding Co		14,459
10,990	*	Net 1 UEPS Technologies, Inc		267,057
2,732	e*	Oritani Financial Corp		43,712
1,316	e*	Pinnacle Financial Partners, Inc		26,438
4,594	e	PrivateBancorp, Inc		139,566
401		S.Y. Bancorp, Inc		8,565
6,477	e*	Signature Bank		166,848
461		Smithtown Bancorp, Inc		7,491
1,005	e	Suffolk Bancorp		29,527
1,637	e*	SVB Financial Group		78,756
6,476	e	Trustco Bank Corp NY		48,052
2,475		ViewPoint Financial Group		36,432
3,327	e	Westamerica Bancorporation		174,967
		TOTAL DEPOSITORY INSTITUTIONS		1,276,224
EATING AND DRINKING PLACES - 1.48%
3,245	*	AFC Enterprises		25,928
3,558	e*	BJ's Restaurants, Inc		34,619
4,350	e*	Buffalo Wild Wings, Inc		108,011
3,959	e*	California Pizza Kitchen, Inc		44,301
3,657		CBRL Group, Inc		89,633
4,676	e*	CEC Entertainment, Inc		130,975
16,354	*	Cheesecake Factory		260,192
12,796	e	CKE Restaurants, Inc		159,566
23,945	e*	Denny's Corp		68,004
4,254	e	DineEquity, Inc		158,929
740	*	Einstein Noah Restaurant Group, Inc		8,192
8,894	e*	Jack in the Box, Inc		199,315
13,137	e*	Krispy Kreme Doughnuts, Inc		65,554
4,141	e*	Papa John's International, Inc		110,109
5,494	e*	PF Chang's China Bistro, Inc		122,736
3,657	e*	Red Robin Gourmet Burgers, Inc		101,445
1,476	*	Rick's Cabaret International, Inc		24,797
4,211	e*	Ruth's Chris Steak House, Inc		21,813
12,355	e*	Sonic Corp		182,854
12,793	e*	Texas Roadhouse, Inc (Class A)		114,753
2,094	e	Triarc Cos (Class B)		13,255
		TOTAL EATING AND DRINKING PLACES		2,044,981
EDUCATIONAL SERVICES - 0.34%
2,691	*	American Public Education, Inc		105,057
20,815	e*	Corinthian Colleges, Inc		241,662

224

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,532	e*	K12, Inc	$	32,831
2,186	*	Learning Tree International, Inc		37,381
595	*	Lincoln Educational Services Corp		6,920
3,266	*	Princeton Review, Inc		22,078
2,151	e*	Universal Technical Institute, Inc		26,801
		TOTAL EDUCATIONAL SERVICES		472,730
ELECTRIC, GAS, AND SANITARY SERVICES - 1.92%
3,977	e	American Ecology Corp		117,441
21,646	*	Beacon Power Corp		45,024
3,141	*	Casella Waste Systems, Inc (Class A)		38,289
5,327	e*	Clean Energy Fuels Corp		61,207
4,949	e*	Clean Harbors, Inc		351,676
3,547	e	Consolidated Water Co, Inc		70,231
9,830	e	Crosstex Energy, Inc		340,708
8,474	e	EnergySolutions, Inc		189,394
683	e	EnergySouth, Inc		33,508
596	e*	EnerNOC, Inc		10,698
12,080	e	ITC Holdings Corp		617,409
4,377	e	Ormat Technologies, Inc		215,261
1,439	e*	Pike Electric Corp		23,902
200	e	SJW Corp		5,280
16,390	*	Waste Connections, Inc		523,333
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		2,643,361
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.99%
6,634	e*	Acme Packet, Inc		51,480
460	*	Actel Corp		7,751
8,727	e	Acuity Brands, Inc		419,594
7,716		Adtran, Inc		183,949
11,162	e*	Advanced Analogic Technologies, Inc		46,099
10,141	*	Advanced Battery Technologies, Inc		58,514
1,886	e*	Advanced Energy Industries, Inc		25,838
5,302	e*	Airvana, Inc		28,419
10,267	e*	American Superconductor Corp		368,072
3,455	e*	Amkor Technology, Inc		35,967
15,295	e*	Anadigics, Inc		150,656
5,033	e*	Applied Micro Circuits Corp		43,082
840		Applied Signal Technology, Inc		11,474
1,824	*	Ascent Solar Technologies, Inc		18,878
14,503	e*	Atheros Communications, Inc		435,090
7,845	*	ATMI, Inc		219,032
54,007	e*	Avanex Corp		61,028
1,304	e*	AZZ, Inc		52,030
2,872	*	Benchmark Electronics, Inc		46,928
8,030	e*	BigBand Networks, Inc		37,982
37,533	*	Capstone Turbine Corp		157,263
3,634	*	Ceva, Inc		28,963
5,718	*	China BAK Battery, Inc		26,932
6,572	*	China Security & Surveillance Technology, Inc		88,591
5,919	*	Comtech Telecommunications Corp		290,031
445	*	CPI International, Inc		5,474
7,071	e*	Diodes, Inc		195,442
4,355	e*	DTS, Inc		136,399

225

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
17,924	*	Emcore Corp	$	112,204
9,899	*	Energy Conversion Devices, Inc		728,962
2,030	*	EnerSys		69,487
1,965	*	Entropic Communications, Inc		9,334
26,680	e*	Evergreen Solar, Inc		258,529
1,298	e*	Exar Corp		9,787
75,528	e*	Finisar Corp		89,878
3,426	e	Franklin Electric Co, Inc		132,860
16,768	e*	FuelCell Energy, Inc		119,053
3,293	*	Globecomm Systems, Inc		27,200
21,071	*	GrafTech International Ltd		565,335
1,051	*	GreenHunter Energy, Inc		14,357
10,622	*	Harmonic, Inc		101,015
23,452	e*	Hexcel Corp		452,624
4,776	*	Hittite Microwave Corp		170,121
22,679	e*	Infinera Corp		200,029
11,087	e*	InterDigital, Inc		269,636
9,090	e*	InterVoice, Inc		51,813
4,696	e*	IPG Photonics Corp		88,332
4,372	e*	iRobot Corp		60,071
4,403	*	IXYS Corp		52,572
14,286	*	Lattice Semiconductor Corp		44,715
2,304	e*	Littelfuse, Inc		72,691
4,455	*	Maxwell Technologies, Inc		47,312
5,809	e*	Medis Technologies Ltd		19,576
12,209	e	Micrel, Inc		111,712
19,527	e*	Microsemi Corp		491,690
12,629	e*	Microtune, Inc		43,696
13,871	*	Microvision, Inc		38,145
2,107	e*	MIPS Technologies, Inc		7,901
6,380	*	Monolithic Power Systems, Inc		137,936
1,074	e*	Moog, Inc (Class A)		39,996
1,862	e*	Multi-Fineline Electronix, Inc		51,522
130		National Presto Industries, Inc		8,343
4,179	e*	Netlogic Microsystems, Inc		138,743
1,134	*	NVE Corp		35,902
1,288	e*	Omnivision Technologies, Inc		15,572
1,869	e*	Oplink Communications, Inc		17,942
2,894	e*	OpNext, Inc		15,570
2,719	*	Optium Corp		19,794
2,189	e*	Orion Energy Systems, Inc		21,890
3,047	e*	OSI Systems, Inc		65,267
4,047		Park Electrochemical Corp		98,383
5,613	*	Parkervision, Inc		55,737
5,393	*	Pericom Semiconductor Corp		80,032
9,440	e*	Plexus Corp		261,299
7,059	e*	PLX Technology, Inc		53,860
31,786	e*	PMC - Sierra, Inc		243,163
20,037	e*	Polycom, Inc		488,101
3,895	e*	Polypore International, Inc		98,660
1,687	e*	Powell Industries, Inc		85,042
7,430	*	Power Integrations, Inc		234,862
16,947	*	Quantum Fuel Systems Technologies Worldwide, Inc		52,197
1,624	*	Radyne Corp		18,562

226

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,911	e	Raven Industries, Inc	$	128,203
3,237	e*	Rubicon Technology, Inc		65,776
40,379	*	Sanmina-SCI Corp		51,685
14,260	e*	Semtech Corp		200,638
9,006	e*	ShoreTel, Inc		39,807
17,921	e*	Silicon Image, Inc		129,927
26,898	e*	Skyworks Solutions, Inc		265,483
3,480	*	Spansion, Inc (Class A)		7,830
3,013	e*	Standard Microsystems Corp		81,803
7,272	e*	Starent Networks Corp		91,482
2,713	e*	Supertex, Inc		63,321
5,973	e*	Sycamore Networks, Inc		19,233
5,538	e*	Synaptics, Inc		208,949
2,763	*	Synthesis Energy Systems, Inc		24,867
722		Technitrol, Inc		12,267
3,546	e*	Techwell, Inc		43,687
1,798	*	Tekelec		26,449
11,816	e*	Tessera Technologies, Inc		193,428
2,707	*	Transmeta Corp		37,384
6,631	e*	Trident Microsystems, Inc		24,203
1,455	*	TTM Technologies, Inc		19,221
3,064	*	Ultralife Corp		32,754
7,069	e*	Universal Display Corp		87,090
3,045	e*	Universal Electronics, Inc		63,641
15,131	*	US Geothermal, Inc		44,485
1,800	e*	Utstarcom, Inc		9,846
9,545	*	Valence Technology, Inc		42,284
1,416	*	Viasat, Inc		28,617
4,500	e	Vicor Corp		44,910
6,198	e*	Volterra Semiconductor Corp		106,977
6,724	e*	Zoltek Cos, Inc		163,057
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		12,389,274
ENGINEERING AND MANAGEMENT SERVICES - 4.21%
6,545	*	Accelrys, Inc		31,612
4,232	e*	Advisory Board Co		166,445
2,561	e*	Affymax, Inc		40,746
19,071	e*	Ariad Pharmaceuticals, Inc		45,770
449	e	CDI Corp		11,423
4,555	e*	China Architectural Engineering, Inc		44,502
1,675	*	China Direct, Inc		12,295
4,392	e*	comScore, Inc		95,833
1,752	e*	CRA International, Inc		63,335
14,840	*	CV Therapeutics, Inc		122,133
13,603	*	Dyax Corp		42,169
10,564	e*	eResearch Technology, Inc		184,236
25,686	e*	Exelixis, Inc		128,430
2,479	e*	Exponent, Inc		77,865
6,600	*	Furmanite Corp		52,668
5,930	*	Greenfield Online, Inc		88,476
5,725	*	Hill International, Inc		94,119
4,693	e*	Huron Consulting Group, Inc		212,781
16,249	e*	Incyte Corp		123,655
22,056	e*	Isis Pharmaceuticals, Inc		300,623

227

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,174	*	Kendle International, Inc	$	115,311
1,231	e	Landauer, Inc		69,231
2,209	*	LECG Corp		19,307
5,773	*	Lexicon Pharmaceuticals, Inc		9,237
8,998	e*	Luminex Corp		184,909
624		MAXIMUS, Inc		21,728
2,519	*	Maxygen, Inc		8,539
359	*	Michael Baker Corp		7,855
10,910	e*	Myriad Genetics, Inc		496,623
321		National Research Corp		8,497
11,804	e*	Navigant Consulting, Inc		230,886
8,179	e*	Omnicell, Inc		107,799
760	e*	PharmaNet Development Group, Inc		11,985
3,665	*	PRG-Schultz International, Inc		34,488
15,163	e*	Regeneron Pharmaceuticals, Inc		218,954
40,496	e*	Rentech, Inc		76,942
7,601	*	Repligen Corp		35,877
11,121		Resources Connection, Inc		226,312
8,914	e*	Rigel Pharmaceuticals, Inc		201,991
13,134	*	RTI Biologics, Inc		114,923
8,948	*	Sangamo Biosciences, Inc		89,033
13,571	e*	Savient Pharmaceuticals, Inc		343,346
14,803	e*	Seattle Genetics, Inc		125,233
11,096	*	Sequenom, Inc		177,092
2,158	e*	Stanley, Inc		72,336
3,648	e*	Symyx Technologies, Inc		25,463
2,720	*	Tejon Ranch Co		98,083
14,383	*	Tetra Tech, Inc		325,343
980		VSE Corp		26,950
7,095	e	Watson Wyatt & Co Holdings (Class A)		375,255
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		5,798,644
FABRICATED METAL PRODUCTS - 1.07%
5,110	*	Akeena Solar, Inc		28,718
479		Ameron International Corp		57,470
1,390	*	Bway Holding Co		11,968
6,922	*	Chart Industries, Inc		336,686
3,521		CIRCOR International, Inc		172,494
3,082	e	Dynamic Materials Corp		101,552
2,974	e	Gulf Island Fabrication, Inc		145,518
625	e	Insteel Industries, Inc		11,444
7,064	e*	Mobile Mini, Inc		141,280
5,856		Quanex Building Products Corp		87,020
3,207		Silgan Holdings, Inc		162,723
9,927	e*	Smith & Wesson Holding Corp		51,720
2,851	e	Sun Hydraulics Corp		92,002
15,304	e*	Taser International, Inc		76,367
		TOTAL FABRICATED METAL PRODUCTS		1,476,962
FISHING, HUNTING, AND TRAPPING - 0.02%
1,627	*	HQ Sustainable Maritime Industries, Inc		21,558
		TOTAL FISHING, HUNTING, AND TRAPPING		21,558

228

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
FOOD AND KINDRED PRODUCTS - 1.07%
4,851	*	AgFeed Industries, Inc	$	72,619
987	e*	Altus Pharmaceuticals, Inc		4,392
1,379	e*	American Dairy, Inc		10,811
2,060	e*	Boston Beer Co, Inc (Class A)		83,801
997	e	Coca-Cola Bottling Co Consolidated		36,869
19,919	*	Darling International, Inc		329,062
3,922		Diamond Foods, Inc		90,363
11,624	e	Flowers Foods, Inc		329,424
4,879	e	Lancaster Colony Corp		147,736
1,780	e	Lance, Inc		33,411
1,184	*	Lifeway Foods, Inc		14,078
166	e*	M&F Worldwide Corp		6,525
340	e	National Beverage Corp		2,472
3,416	e*	Peet's Coffee & Tea, Inc		67,705
1,516	e*	Ralcorp Holdings, Inc		74,951
839	e	Sanderson Farms, Inc		28,962
11,765	*	Smart Balance, Inc		84,826
2,090	e	Tootsie Roll Industries, Inc		52,522
		TOTAL FOOD AND KINDRED PRODUCTS		1,470,529
FOOD STORES - 0.19%
263	e	Arden Group, Inc (Class A)		33,333
3,103	e*	Great Atlantic & Pacific Tea Co, Inc		70,810
990	e*	Pantry, Inc		10,553
774		Ruddick Corp		26,556
7,642	e*	Winn-Dixie Stores, Inc		122,425
		TOTAL FOOD STORES		263,677
FURNITURE AND FIXTURES - 0.33%
7,519	e	Herman Miller, Inc		187,148
929		HNI Corp		16,406
13,023	e	Interface, Inc (Class A)		163,178
11,404	e	Tempur-Pedic International, Inc		89,065
		TOTAL FURNITURE AND FIXTURES		455,797
FURNITURE AND HOME FURNISHINGS STORES - 0.14%
1,182		Haverty Furniture Cos, Inc		11,867
3,045	e*	hhgregg, Inc		30,450
10,849		Knoll, Inc		131,815
3,591	*	Pier 1 Imports, Inc		12,353
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		186,485
GENERAL BUILDING CONTRACTORS - 0.28%
93	e	Amrep Corp		4,426
1,222	*	Cavco Industries, Inc		39,996
4,011	e	McGrath RentCorp		98,630
2,703	e*	Perini Corp		89,334
4,513	e*	Team, Inc		154,886
		TOTAL GENERAL BUILDING CONTRACTORS		387,272
GENERAL MERCHANDISE STORES - 0.03%
6,551	e*	99 Cents Only Stores		43,237
401	e*	Retail Ventures, Inc		1,845
		TOTAL GENERAL MERCHANDISE STORES		45,082

229

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
HEALTH SERVICES - 1.99%
5,741	e*	Alliance Imaging, Inc	$	49,774
1,554	*	Almost Family, Inc		41,336
6,636	e*	Amedisys, Inc		334,587
7,321	e*	Assisted Living Concepts, Inc (A Shares)		40,266
2,819	e*	Bio-Reference Labs, Inc		62,892
1,819	*	China Sky One Medical, Inc		20,245
2,056	*	Corvel Corp		69,637
1,371	*	Cross Country Healthcare, Inc		19,756
6,803	e*	CryoLife, Inc		77,826
6,089	e*	eHealth, Inc		107,532
4,812	e*	Emeritus Corp		70,351
560	e	Ensign Group, Inc		6,440
6,294	e*	Enzo Biochem, Inc		70,619
3,612	e*	Genomic Health, Inc		69,170
2,034	*	Genoptix, Inc		64,173
2,676	e*	Gentiva Health Services, Inc		50,978
8,589	e*	Healthways, Inc		254,234
15,990	e*	Immunomedics, Inc		34,059
1,302	e*	IPC The Hospitalist Co, Inc		24,504
3,632	e*	LHC Group, Inc		84,444
2,432	*	Life Sciences Research, Inc		68,680
1,817	e	National Healthcare Corp		83,273
10,246	e*	Nektar Therapeutics		34,324
747	e*	Nighthawk Radiology Holdings, Inc		5,289
1,734	*	Odyssey HealthCare, Inc		16,889
13,762	e*	Psychiatric Solutions, Inc		520,754
6,676	e*	Stereotaxis, Inc		35,783
10,517	e*	Sun Healthcare Group, Inc		140,823
9,725	e*	Sunrise Senior Living, Inc		218,618
2,902	*	US Physical Therapy, Inc		47,622
1,706	e*	Virtual Radiologic Corp		22,605
		TOTAL HEALTH SERVICES		2,747,483
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.24%
5,069	e*	Comverge, Inc		70,865
6,353	e*	Matrix Service Co		146,500
5,272	*	Orion Marine Group, Inc		74,493
1,875	*	Sterling Construction Co, Inc		37,238
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		329,096
HOLDING AND OTHER INVESTMENT OFFICES - 5.13%
3,892	e	Acadia Realty Trust		90,100
314	e*	Alexander's, Inc		97,528
8,274	*	American Apparel, Inc		55,022
2,739		Associated Estates Realty Corp		29,335
1,134	e	Cherokee, Inc		22,850
6,632		Cousins Properties, Inc		153,199
1,904		Danvers Bancorp, Inc		20,944
1,912		EastGroup Properties, Inc		82,025
3,189		Equity Lifestyle Properties, Inc		140,316
755	e	Highwoods Properties, Inc		23,722
3,317		Home Properties, Inc		159,415

230

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,375	e	Inland Real Estate Corp	$	63,088
67,175	e	iShares Russell 2000 Growth Index Fund		5,116,048
3,605	e	Mid-America Apartment Communities, Inc		183,999
2,055		Omega Healthcare Investors, Inc		34,216
3,404		Potlatch Corp		153,588
1,057		PS Business Parks, Inc		54,541
1,524	e	Saul Centers, Inc		71,613
2,727	e	Sun Communities, Inc		49,713
7,709	e	Tanger Factory Outlet Centers, Inc		276,984
576	e	Universal Health Realty Income Trust		17,280
6,038	e	Washington Real Estate Investment Trust		181,442
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		7,076,968
HOTELS AND OTHER LODGING PLACES - 0.30%
1,553	e*	Monarch Casino & Resort, Inc		18,325
5,939	e*	Morgans Hotel Group Co		61,172
1,965	e*	Riviera Holdings Corp		19,945
7,404	e*	Vail Resorts, Inc		317,113
		TOTAL HOTELS AND OTHER LODGING PLACES		416,555
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.14%
6,661	*	3PAR, Inc		52,222
3,160	e	Aaon, Inc		60,862
12,576	e	Actuant Corp (Class A)		394,258
6,453	*	Altra Holdings, Inc		108,475
1,484		Ampco-Pittsburgh Corp		66,008
4,213	e*	Astec Industries, Inc		135,406
2,277	e*	Asyst Technologies, Inc		8,129
6,118	*	AuthenTec, Inc		63,750
2,107	*	Bolt Technology Corp		47,555
10,232	e*	Cirrus Logic, Inc		56,890
5,268	*	Colfax Corp		132,174
569	e*	Columbus McKinnon Corp		13,702
3,683	e*	Cray, Inc		17,089
9,401	e	Curtiss-Wright Corp		420,601
1,898	e*	Cymer, Inc		51,018
7,689	*	Dril-Quip, Inc		484,407
16,569	*	Elixir Gaming Technologies, Inc		19,883
8,784	*	Ener1, Inc		65,177
6,615	*	ENGlobal Corp		94,198
592	*	EnPro Industries, Inc		22,105
1,993	*	Entegris, Inc		13,054
3,935	*	Flanders Corp		23,807
5,552	e*	Flotek Industries, Inc		114,482
9,192	e*	Flow International Corp		71,698
4,328	e*	Fuel Tech, Inc		76,259
3,505	e	Gorman-Rupp Co		139,639
1,213		Graham Corp		89,895
1,528	*	Harbin Electric, Inc		21,713
3,868	*	Immersion Corp		26,341
15,047	*	Intermec, Inc		317,191
6,016	e*	Isilon Systems, Inc		26,711
6,924	e	Kaydon Corp		355,963
1,374	*	Key Technology, Inc		43,707

231

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
13,072	*	Kulicke & Soffa Industries, Inc	$	95,295
3,012	e	Lindsay Manufacturing Co		255,930
1,252		Lufkin Industries, Inc		104,267
3,678		Met-Pro Corp		49,101
19,907	e*	Micros Systems, Inc		606,964
4,147	e*	Middleby Corp		182,095
4,886	e*	NATCO Group, Inc (Class A)		266,434
2,956	*	Natural Gas Services Group, Inc		90,099
9,642	*	Netezza Corp		110,690
1,560	*	Netgear, Inc		21,622
3,189		NN, Inc		44,455
8,234		Nordson Corp		600,176
764		Omega Flex, Inc		11,613
22,374		Palm, Inc		120,596
1,585	*	Peerless Manufacturing Co		74,289
28,339	*	Quantum Corp		38,258
1,072	*	Rackable Systems, Inc		14,365
5,324	*	RBC Bearings, Inc		177,396
456	*	Rimage Corp		5,650
13,710	*	Riverbed Technology, Inc		188,101
4,016		Robbins & Myers, Inc		200,278
2,442	e	Sauer-Danfoss, Inc		76,068
5,105	e*	Scansource, Inc		136,610
4,576	e*	Semitool, Inc		34,366
5,558	e*	Sigma Designs, Inc		77,201
7,503	e*	STEC, Inc		77,056
4,584	*	Super Micro Computer, Inc		33,830
3,158	*	T-3 Energy Services, Inc		250,966
3,774	e	Tennant Co		113,484
712	*	Thermadyne Holdings Corp		10,530
6,264	e*	TurboChef Technologies, Inc		29,942
350	e	Twin Disc, Inc		7,326
5,714	e*	Ultratech, Inc		88,681
8,746	*	VeriFone Holdings, Inc		104,515
3,045	e	Watsco, Inc		127,281
11,331		Woodward Governor Co		404,063
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		8,463,962
INSTRUMENTS AND RELATED PRODUCTS - 8.40%
5,299	e*	Abaxis, Inc		127,865
7,437	e*	Abiomed, Inc		132,007
8,824	e*	Accuray, Inc		64,327
9,283	*	Affymetrix, Inc		95,522
15,155	e*	Align Technology, Inc		158,976
6,099	*	Alphatec Holdings, Inc		24,884
17,785	e*	American Medical Systems Holdings, Inc		265,886
2,220	e	American Science & Engineering, Inc		114,397
3,274		Analogic Corp		206,491
2,436	*	Angiodynamics, Inc		33,178
7,356	*	Applera Corp		83,564
2,796	e*	Argon ST, Inc		69,341
6,508	e*	Arthrocare Corp		265,591
367		Atrion Corp		35,166
2,135	*	Axsys Technologies, Inc		111,105

232

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,318	e	Badger Meter, Inc	$	167,659
4,710	*	Bio-Rad Laboratories, Inc (Class A)		380,992
12,465	*	Bruker BioSciences Corp		160,175
1,101	*	CardioNet, Inc		29,320
13,916	e*	Cepheid, Inc		391,318
706	e	Cohu, Inc		10,364
544	*	Conmed Corp		14,443
5,802	e*	Cyberonics, Inc		125,903
2,335	e*	Cynosure, Inc (Class A)		46,280
3,007		Datascope Corp		141,329
11,730	*	Depomed, Inc		37,653
6,410	*	DexCom, Inc		38,716
4,477	*	Dionex Corp		297,138
875	*	DXP Enterprises, Inc		36,435
680	*	Eagle Test Systems, Inc		7,616
6,339	*	ESCO Technologies, Inc		297,426
6,082	*	Esterline Technologies Corp		299,599
3,585	e*	ev3, Inc		33,986
1,719	*	Exactech, Inc		44,195
1,537	e*	Excel Technology, Inc		34,306
4,077	e*	FARO Technologies, Inc		102,618
3,350	e*	FGX International Holdings Ltd		26,934
7,360	e*	Formfactor, Inc		135,645
11,087	e*	Fossil, Inc		322,299
6,287	*	Haemonetics Corp		348,677
1,117	*	Herley Industries, Inc		14,834
1,463	e*	ICU Medical, Inc		33,473
1,855	e*	ICx Technologies, Inc		13,542
5,535	e*	I-Flow Corp		56,180
5,966	e*	II-VI, Inc		208,333
4,483	e*	Insulet Corp		70,518
4,350	e*	Integra LifeSciences Holdings Corp		193,488
1,451		Invacare Corp		29,658
20,668	e*	ION Geophysical Corp		360,657
4,498	*	IRIS International, Inc		70,394
6,386	e*	Ixia		44,383
1,844	e*	Kensey Nash Corp		59,100
591	*	K-Tron International, Inc		76,594
2,025	e*	L-1 Identity Solutions, Inc		26,973
2,688	*	LaBarge, Inc		34,944
2,718	e*	LTX Corp		5,980
11,261	e*	Masimo Corp		386,815
1,598	*	Medical Action Industries, Inc		16,571
8,250	e	Mentor Corp		229,515
6,743	e*	Merit Medical Systems, Inc		99,122
3,806	e*	Micrus Endovascular Corp		53,360
2,661	e	Mine Safety Appliances Co		106,413
651	e*	MKS Instruments, Inc		14,257
1,590	e	MTS Systems Corp		57,049
6,740	e*	Natus Medical, Inc		141,136
3,521	*	Neogen Corp		80,596
8,694	e*	NuVasive, Inc		388,274
3,604	e*	NxStage Medical, Inc		13,839
1,434	e*	Orthofix International NV		41,514

233

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
16,200	*	Orthovita, Inc	$	33,210
1,079	e*	OYO Geospace Corp		63,596
3,353	*	Photon Dynamics Inc		50,563
7,255	e*	Rofin-Sinar Technologies, Inc		219,101
1,140	e*	Rudolph Technologies, Inc		8,778
3,892	*	Sirona Dental Systems, Inc		100,881
3,140	*	Somanetics Corp		66,568
3,275	e*	Sonic Solutions, Inc		19,519
4,106	e*	SonoSite, Inc		115,009
7,889	*	Spectranetics Corp		77,786
14,580	e	STERIS Corp		419,321
2,569	e*	Symmetry Medical, Inc		41,669
3,047	*	Synovis Life Technologies, Inc		57,375
8,810	e*	Teledyne Technologies, Inc		429,840
13,313	e*	Thoratec Corp		231,513
2,979	e*	Trans1, Inc		44,894
6,994	e*	Varian, Inc		357,114
6,574	e*	Veeco Instruments, Inc		105,710
4,119	*	Vision-Sciences, Inc		15,446
2,485	e*	Vital Images, Inc		30,913
2,036	e	Vital Signs, Inc		115,604
14,810	e*	Vivus, Inc		98,931
3,177	*	Vnus Medical Technologies, Inc		63,572
11,539	*	Volcano Corp		140,776
9,085	*	Wright Medical Group, Inc		258,105
5,108	*	Zoll Medical Corp		171,986
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		11,584,618
INSURANCE AGENTS, BROKERS AND SERVICE - 0.02%
1,291		Life Partners Holdings, Inc		25,794
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		25,794
INSURANCE CARRIERS - 0.46%
393	e	Amtrust Financial Services, Inc		4,952
2,498	*	Argo Group International Holdings Ltd		83,833
932	e*	Centene Corp		15,648
1,774	e*	Darwin Professional Underwriters, Inc		54,639
642		Employers Holdings, Inc		13,289
736	e*	Enstar Group Ltd		64,400
812	e*	First Mercury Financial Corp		14,324
8,055	*	HealthExtras, Inc		242,778
2,624	e*	Primus Guaranty Ltd		7,636
4,779	*	RadNet, Inc		29,630
4,937	e	Tower Group, Inc		104,615
		TOTAL INSURANCE CARRIERS		635,744
JUSTICE, PUBLIC ORDER AND SAFETY - 0.22%
3,424	*	China Fire & Security Group, Inc		27,563
12,463	e*	Geo Group, Inc		280,417
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		307,980
LEATHER AND LEATHER PRODUCTS - 0.45%
18,843	*	CROCS, Inc		150,932
10,099	e*	Iconix Brand Group, Inc		121,996

234

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,002		Weyco Group, Inc	$	26,583
12,163	e	Wolverine World Wide, Inc		324,387
		TOTAL LEATHER AND LEATHER PRODUCTS		623,898
LEGAL SERVICES - 0.06%
1,879	e*	Pre-Paid Legal Services, Inc		76,325
		TOTAL LEGAL SERVICES		76,325
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.02%
1,119	e*	Emergency Medical Services Corp (Class A)		25,323
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		25,323
LUMBER AND WOOD PRODUCTS - 0.17%
2,003		American Woodmark Corp		42,323
9,548	e*	Champion Enterprises, Inc		55,856
2,570	e	Deltic Timber Corp		137,521
		TOTAL LUMBER AND WOOD PRODUCTS		235,700
METAL MINING - 0.16%
9,708	*	Allied Nevada Gold Corp		57,180
3,189	e*	Apex Silver Mines Ltd		15,658
7,668	e*	ShengdaTech, Inc		76,143
2,678	e*	Stillwater Mining Co		31,681
9,185	e*	Uranium Resources, Inc		33,893
		TOTAL METAL MINING		214,555
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.15%
8,013	e	Daktronics, Inc		161,622
429	e	Marine Products Corp		2,831
8,240	e*	Shuffle Master, Inc		40,706
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		205,159
MISCELLANEOUS RETAIL - 1.12%
6,830	*	1-800-FLOWERS.COM, Inc (Class A)		44,053
1,418	*	Bidz.com, Inc		12,351
3,260	e*	Blue Nile, Inc		138,615
7,717		Borders Group, Inc		46,302
3,170		Cash America International, Inc		98,270
7,389	e*	CKX, Inc		64,654
13,915	*	Coldwater Creek, Inc		73,471
20,432	*	Drugstore.Com		38,821
9,390	e*	Ezcorp, Inc (Class A)		119,722
2,377	*	Fuqi International, Inc		20,823
5,738	*	GSI Commerce, Inc		78,209
6,949	e*	Hibbett Sports, Inc		146,624
3,421	e	Longs Drug Stores Corp		144,058
7,466		Nutri/System, Inc		105,569
3,924	e*	Overstock.com, Inc		101,828
2,227	*	PC Mall, Inc		30,198
3,528	e	Pricesmart, Inc		69,784
4,807	*	Shutterfly, Inc		58,693
3,631	*	Stamps.com, Inc		45,315
1,281	e	Systemax, Inc		22,610

235

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
4,796	e*	Zumiez, Inc	$	79,518
		TOTAL MISCELLANEOUS RETAIL		1,539,488
MOTION PICTURES - 0.53%
2,721	e	Cinemark Holdings, Inc		35,536
4,393	e*	Gaiam, Inc (Class A)		59,349
1,620	e*	Macrovision Solutions Corp		24,235
10,283	e	National CineMedia, Inc		109,617
31,572	e*	tw telecom inc		506,099
		TOTAL MOTION PICTURES		734,836
NONDEPOSITORY INSTITUTIONS - 0.46%
3,503	e	Advance America Cash Advance Centers, Inc		17,795
1,205	e*	Credit Acceptance Corp		30,800
4,661	e*	First Cash Financial Services, Inc		69,868
8,686		First Marblehead Corp		22,323
6,226	e*	Mercadolibre, Inc		214,735
2,394	*	Mitcham Industries, Inc		40,890
2,034	e*	NewStar Financial, Inc		12,021
12,719	e*	thinkorswim Group, Inc		89,669
4,033	e*	World Acceptance Corp		135,791
		TOTAL NONDEPOSITORY INSTITUTIONS		633,892
NONMETALLIC MINERALS, EXCEPT FUELS - 0.37%
2,088	e	AMCOL International Corp		59,424
4,150		Compass Minerals International, Inc		334,324
12,895	e*	General Moly, Inc		101,484
246	*	United States Lime & Minerals, Inc		9,734
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		504,966
OIL AND GAS EXTRACTION - 7.96%
10,249	*	Abraxas Petroleum Corp		55,447
1,053	e	APCO Argentina, Inc		30,484
2,194	e*	Approach Resources, Inc		58,777
8,591	*	Arena Resources, Inc		453,777
8,433	e	Atlas America, Inc		379,929
6,789	*	ATP Oil & Gas Corp		267,962
10,084	*	Basic Energy Services, Inc		317,646
6,615	e	Berry Petroleum Co (Class A)		389,491
4,192	*	Bill Barrett Corp		249,047
1,230	*	BMB Munai, Inc		7,306
4,741	*	Bois d'Arc Energy, Inc		115,254
904	e*	Cal Dive International, Inc		12,918
9,459	*	Cano Petroleum, Inc		75,104
6,799	*	Carrizo Oil & Gas, Inc		462,944
9,216	*	Cheniere Energy, Inc		40,274
1,320	*	Clayton Williams Energy, Inc		145,134
11,243	*	Comstock Resources, Inc		949,246
12,167	*	Concho Resources, Inc		453,829
3,300	e*	Contango Oil & Gas Co		306,636
1,332	*	Dawson Geophysical Co		79,201
15,516	e*	Delta Petroleum Corp		395,968
1,996	*	Double Eagle Petroleum Co		36,387
27,804	*	Endeavour International Corp		60,335
7,800	*	Energy Partners Ltd		116,376

236

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
1,220	*	Energy XXI Bermuda Ltd	$	8,442
17,125	*	EXCO Resources, Inc		632,084
10,242	e*	FX Energy, Inc		53,975
22,899	*	Gasco Energy, Inc		95,031
9,304	e*	GeoGlobal Resources, Inc		19,818
808	*	Geokinetics, Inc		14,633
850	*	Geomet, Inc		8,058
1,341	*	Georesources, Inc		24,701
1,419	*	GMX Resources, Inc		105,148
5,025	e*	Goodrich Petroleum Corp		416,673
10,186	e*	Grey Wolf, Inc		91,980
2,200	e*	Gulfport Energy Corp		36,234
3,641	*	Houston American Energy Corp		40,852
12,335	e*	McMoRan Exploration Co		339,459
4,793	*	Northern Oil And Gas, Inc		63,651
4,437	*	Oilsands Quest, Inc		28,840
1,790		Panhandle Oil and Gas, Inc		60,609
10,111	*	Parallel Petroleum Corp		203,534
5,034	e*	Parker Drilling Co		50,390
10,165		Penn Virginia Corp		766,644
3,630	e*	Petroleum Development Corp		241,359
5,323	e*	Petroquest Energy, Inc		143,189
1,507	*	Pioneer Drilling Co		28,347
4,140	*	PowerSecure International, Inc		30,056
225	*	PrimeEnergy Corp		12,485
4,544	*	Quest Resource Corp		51,847
4,387	*	RAM Energy Resources, Inc		27,638
4,096	e*	Rex Energy Corp		108,134
7,208	e	RPC, Inc		121,094
13,034	e*	Sulphco, Inc		29,587
2,740	e*	Superior Well Services, Inc		86,885
5,480	*	Tri-Valley Corp		40,716
1,191	*	Union Drilling, Inc		25,821
4,530	*	Vaalco Energy, Inc		38,369
4,950	e*	Venoco, Inc		114,889
14,242	e*	Warren Resources, Inc		209,073
7,652	*	W-H Energy Services, Inc		732,602
9,494	*	Willbros Group, Inc		415,932
		TOTAL OIL AND GAS EXTRACTION		10,978,251
PAPER AND ALLIED PRODUCTS - 0.21%
11,754	e*	Cenveo, Inc		114,837
35,317	e*	Graphic Packaging Holding Co		71,340
3,505		Rock-Tenn Co (Class A)		105,115
		TOTAL PAPER AND ALLIED PRODUCTS		291,292
PERSONAL SERVICES - 0.31%
6,828	e*	Coinstar, Inc		223,344
21,751	e*	Sally Beauty Holdings, Inc		140,511
2,375	*	Steiner Leisure Ltd		67,331
		TOTAL PERSONAL SERVICES		431,186
PETROLEUM AND COAL PRODUCTS - 0.32%
2,192	*	American Oil & Gas, Inc		8,593

237

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
5,622	*	CVR Energy, Inc	$	108,223
24,295	*	Gran Tierra Energy, Inc		193,631
1,495	*	Headwaters, Inc		17,596
2,106		Quaker Chemical Corp		56,146
1,876		WD-40 Co		54,873
		TOTAL PETROLEUM AND COAL PRODUCTS		439,062
PRIMARY METAL INDUSTRIES - 0.97%
3,242	e	Belden CDT, Inc		109,839
1,759	e*	Coleman Cable, Inc		18,153
1,097	e*	Esmark, Inc		20,975
3,521	*	Fushi Copperweld, Inc		83,553
2,632	*	General Steel Holdings, Inc		41,375
763	e*	Haynes International, Inc		43,911
7,213		Matthews International Corp (Class A)		326,460
5,910	*	Metalico, Inc		103,543
625		Mueller Industries, Inc		20,125
1,666		Olympic Steel, Inc		126,483
828	*	Superior Essex, Inc		36,954
1,100	*	Sutor Technology Group Ltd		7,777
5,839	e	Texas Industries, Inc		327,743
240	*	Universal Stainless & Alloy		8,890
2,790		Worthington Industries, Inc		57,195
		TOTAL PRIMARY METAL INDUSTRIES		1,332,976
PRINTING AND PUBLISHING - 0.53%
610		Bowne & Co, Inc		7,777
5,597	*	China Information Security Technology, Inc		31,679
1,432	e*	Consolidated Graphics, Inc		70,555
5,359	e*	Dolan Media Co		97,534
1,140		Harte-Hanks, Inc		13,053
6,591	e*	Martha Stewart Living Omnimedia, Inc (Class A)		48,773
2,037		Multi-Color Corp		42,757
3,013	*	Playboy Enterprises, Inc (Class B)		14,884
6,736	*	Presstek, Inc		33,411
1,106	e	Standard Register Co		10,430
5,739	e*	Valassis Communications, Inc		71,852
10,791	e*	VistaPrint Ltd		288,767
		TOTAL PRINTING AND PUBLISHING		731,472
RAILROAD TRANSPORTATION - 0.13%
5,406	e*	Genesee & Wyoming, Inc (Class A)		183,912
		TOTAL RAILROAD TRANSPORTATION		183,912
REAL ESTATE - 0.16%
956	e	Consolidated-Tomoka Land Co		40,209
1,936	e	DuPont Fabros Technology, Inc		36,087
654	*	Forestar Real Estate Group, Inc		12,459
8,251		Grubb & Ellis Co		31,766
7,154	e*	LoopNet, Inc		80,840
1,390	e	Thomas Properties Group, Inc		13,678
		TOTAL REAL ESTATE		215,039

238

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 1.19%
1,181	e*	AEP Industries, Inc	$	20,514
3,187	*	Deckers Outdoor Corp		443,630
4,634	e*	Metabolix, Inc		45,413
603	*	Skechers U.S.A., Inc (Class A)		11,915
6,707	e	Titan International, Inc		238,903
913	e*	Trex Co, Inc		10,709
15,150	e	Tupperware Corp		518,433
8,092	e	West Pharmaceutical Services, Inc		350,222
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,639,739
SECURITY AND COMMODITY BROKERS - 1.12%
2,677	e	Cohen & Steers, Inc		69,522
503	*	Diamond Hill Investment Group, Inc		42,000
2,594	e*	Duff & Phelps Corp		42,957
1,885	e	Epoch Holding Corp		17,172
5,550	e*	FCStone Group, Inc		155,011
589	e	GAMCO Investors, Inc (Class A)		29,226
16,158	e	GFI Group, Inc		145,584
4,235	e	Greenhill & Co, Inc		228,097
10,174	e*	Interactive Brokers Group, Inc (Class A)		326,891
1,031	*	International Assets Holding Corp		30,992
341	e*	KBW, Inc		7,018
2,900	*	Knight Capital Group, Inc (Class A)		52,142
23,626	e*	Ladenburg Thalmann Financial Services, Inc		35,675
10,348	e	optionsXpress Holdings, Inc		231,174
1,499	e	Pzena Investment Management, Inc		19,127
403	*	Stifel Financial Corp		13,876
2,543	e	US Global Investors, Inc (Class A)		42,595
316		Value Line, Inc		10,507
1,127		Westwood Holdings Group, Inc		44,855
		TOTAL SECURITY AND COMMODITY BROKERS		1,544,421
SOCIAL SERVICES - 0.04%
666	e*	Capital Senior Living Corp		5,022
2,541	*	Providence Service Corp		53,641
		TOTAL SOCIAL SERVICES		58,663
SPECIAL TRADE CONTRACTORS - 0.38%
752	e	Alico, Inc		26,064
8,462	*	AsiaInfo Holdings, Inc		100,021
4,315	e	Chemed Corp		157,972
6,378	*	EMCOR Group, Inc		181,964
540	e*	Integrated Electrical Services, Inc		9,288
1,092	e*	Layne Christensen Co		47,819
		TOTAL SPECIAL TRADE CONTRACTORS		523,128
STONE, CLAY, AND GLASS PRODUCTS - 0.41%
3,631	e	Apogee Enterprises, Inc		58,677
5,735	*	Cabot Microelectronics Corp		190,115
5,019	e	CARBO Ceramics, Inc		292,859
3,037	e	Libbey, Inc		22,595
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		564,246

239

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
TEXTILE MILL PRODUCTS - 0.01%
5,072	e	Xerium Technologies, Inc	$	20,085
		TOTAL TEXTILE MILL PRODUCTS		20,085
TOBACCO PRODUCTS - 0.09%
7,674	e	Vector Group Ltd		123,782
		TOTAL TOBACCO PRODUCTS		123,782
TRANSPORTATION BY AIR - 0.27%
2,686	e*	Air Methods Corp		67,150
15,105	e*	Airtran Holdings, Inc		30,814
2,813	*	Allegiant Travel Co		52,294
8,439	*	Hawaiian Holdings, Inc		58,651
2,249	e*	PHI, Inc		90,342
14,198		UAL Corp		74,114
		TOTAL TRANSPORTATION BY AIR		373,365
TRANSPORTATION EQUIPMENT - 1.96%
2,172	e*	AAR Corp		29,387
2,503	e*	Aerovironment, Inc		68,032
2,045	e	American Railcar Industries, Inc		34,315
5,648	e*	Amerigon, Inc		40,157
7,626		Clarcor, Inc		267,673
6,300	*	Cogo Group, Inc		57,393
13,619	e*	Fleetwood Enterprises, Inc		35,682
10,104	e*	Force Protection, Inc		33,444
353	e	Freightcar America, Inc		12,531
2,802	*	Fuel Systems Solutions, Inc		107,877
13,934	e*	GenCorp, Inc		99,767
1,860	e*	GenTek, Inc		50,015
3,793	e*	Hayes Lemmerz International, Inc		10,772
5,639	e	Heico Corp		183,493
405	e	Kaman Corp		9,218
1,317	*	LMI Aerospace, Inc		23,140
14,307	e*	Orbital Sciences Corp		337,073
7,105	e	Polaris Industries, Inc		286,900
873	e	Spartan Motors, Inc		6,521
8,315	e*	TransDigm Group, Inc		279,301
2,255	e	Triumph Group, Inc		106,210
9,130	e*	Visteon Corp		24,012
10,450	e	Westinghouse Air Brake Technologies Corp		508,079
7,101	e	Winnebago Industries, Inc		72,359
3,590	*	Wonder Auto Technology, Inc		25,238
		TOTAL TRANSPORTATION EQUIPMENT		2,708,589
TRANSPORTATION SERVICES - 0.50%
4,668	e	Ambassadors Group, Inc		69,647
1,279	e*	Dynamex, Inc		34,290
5,932	e*	HUB Group, Inc (Class A)		202,459
1,208	e*	Orbitz Worldwide, Inc		6,052
3,274	e	Pacer International, Inc		70,424
10,496	e	Ship Finance International Ltd		309,947
		TOTAL TRANSPORTATION SERVICES		692,819

240

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
TRUCKING AND WAREHOUSING - 0.38%
7,045	e	Forward Air Corp	$	243,757
8,386	e	Heartland Express, Inc		125,035
4,787	e*	Old Dominion Freight Line		143,706
508	e*	Universal Truckload Services, Inc		11,186
		TOTAL TRUCKING AND WAREHOUSING		523,684
WATER TRANSPORTATION - 1.40%
8,799	e*	American Commercial Lines, Inc		96,173
2,880	e	Arlington Tankers Ltd		66,874
4,703		DHT Maritime, Inc		47,171
11,706	e	Eagle Bulk Shipping, Inc		346,146
5,430	e	Genco Shipping & Trading Ltd		354,036
6,520		General Maritime Corp		169,390
7,220	e	Golar LNG Ltd		111,838
3,831	*	Gulfmark Offshore, Inc		222,888
7,659	e	Horizon Lines, Inc (Class A)		76,207
4,179		Knightsbridge Tankers Ltd		134,606
2,259		Nordic American Tanker Shipping		87,694
8,820	e*	Odyssey Marine Exploration, Inc		34,927
2,563	*	TBS International Ltd (Class A)		102,392
3,301	e	Teekay Tankers Ltd		76,616
		TOTAL WATER TRANSPORTATION		1,926,958
WHOLESALE TRADE-DURABLE GOODS - 1.93%
3,101	e	Applied Industrial Technologies, Inc		74,951
11,690	e	Barnes Group, Inc		269,922
5,236	e*	Beacon Roofing Supply, Inc		55,554
2,933	*	Cardtronics, Inc		26,016
2,697	*	Chindex International, Inc		39,565
7,384	e*	Conceptus, Inc		136,530
4,796	*	DemandTec, Inc		36,018
687	*	Digi International, Inc		5,393
514	e*	Drew Industries, Inc		8,198
4,168	e*	Hansen Medical, Inc		69,689
4,347	e	Houston Wire & Cable Co		86,505
13,994	e	Knight Transportation, Inc		256,090
3,694	e*	MedAssets, Inc		62,983
2,507	*	MWI Veterinary Supply, Inc		83,007
9,146		Owens & Minor, Inc		417,881
9,469		Pool Corp		168,169
15,137	e*	PSS World Medical, Inc		246,733
12,900	*	Solera Holdings, Inc		356,814
1,788	e*	Titan Machinery, Inc		56,000
9,476	e*	TomoTherapy, Inc		84,621
9,288	e*	Tyler Technologies, Inc		126,038
		TOTAL WHOLESALE TRADE-DURABLE GOODS		2,666,677
WHOLESALE TRADE-NONDURABLE GOODS - 1.00%
15,256	e*	Akorn, Inc		50,497
17,343	e*	Alliance One International, Inc		88,623
13,942	e*	Allscripts Healthcare Solutions, Inc		173,020
5,916	e*	BMP Sunstone Corp		33,721
4,207	e*	Green Mountain Coffee Roasters, Inc		158,057
1,066	*	Hain Celestial Group, Inc		25,030

241

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Growth Index Fund
SHARES		COMPANY		VALUE
2,950	e*	LSB Industries, Inc	$	58,410
1,416	e	Men's Wearhouse, Inc		23,067
4,105		Myers Industries, Inc		33,456
8,004	e	Nu Skin Enterprises, Inc (Class A)		119,420
1,508	*	Perry Ellis International, Inc		32,000
741	e	Spartan Stores, Inc		17,043
2,533	e*	Synutra International, Inc		81,867
6,088	*	Tractor Supply Co		176,796
3,235	e*	United Natural Foods, Inc		63,018
4,439	e*	Volcom, Inc		106,225
5,106	e	Zep, Inc		75,977
4,511	*	Zhongpin, Inc		56,387
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,372,614
		TOTAL COMMON STOCKS		136,345,243
		(Cost $131,180,846)
SHORT-TERM INVESTMENTS - 30.88%
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.37%
$      1,880,000		Federal Home Loan Bank (FHLB), 07/01/08		1,880,000
				1,880,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 29.51%
40,688,368		State Street Navigator Securities Lending Prime Portfolio		40,688,368
				40,688,368
		TOTAL SHORT-TERM INVESTMENTS		42,568,368
		(Cost $42,568,368)
		TOTAL PORTFOLIO - 129.77%		178,913,611
		(Cost $173,749,214)
		OTHER ASSETS & LIABILITIES, NET - (29.77)%		(41,040,283	)
		NET ASSETS - 100.00%	$	137,873,328
	*	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 $181,250.
	e	All or a portion of these securities are out on loan.
		At June 30, 2008, the net unrealized appreciation on investments was $5,164,397,
		consisting of gross unrealized appreciation of $16,942,395 and gross unrealized depreciation of
		$11,777,998.

	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE	DATE	(DEPRECIATION)
E-mini Russell 2000 Index	26	$ 1,798,420	September 2008	$	(58,251)

242

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL-CAP VALUE INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.45%
AGRICULTURAL PRODUCTION-CROPS - 0.14%
12,421	e*	Chiquita Brands International, Inc	$	188,427
933		Griffin Land & Nurseries, Inc		28,643
		TOTAL AGRICULTURAL PRODUCTION-CROPS		217,070
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.21%
428	e	Cal-Maine Foods, Inc		14,120
12,196	e	Pilgrim's Pride Corp		158,426
100		Seaboard Corp		155,100
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		327,646
AMUSEMENT AND RECREATION SERVICES - 0.41%
2,719		Churchill Downs, Inc		94,812
22,179	e*	Live Nation, Inc		234,654
17,579	e*	Pinnacle Entertainment, Inc		184,404
19,224	e*	Six Flags, Inc		22,108
4,037		Speedway Motorsports, Inc		82,274
20,765	e,v*	Westwood One, Inc		25,126
		TOTAL AMUSEMENT AND RECREATION SERVICES		643,378
APPAREL AND ACCESSORY STORES - 1.71%
8,605		Bebe Stores, Inc		82,694
12,278		Brown Shoe Co, Inc		166,367
760	e*	Cache, Inc		8,132
16,572	*	Carter's, Inc		229,025
10,911	e*	Casual Male Retail Group, Inc		33,279
6,487		Cato Corp (Class A)		92,375
5,124	*	Charlotte Russe Holding, Inc		91,002
33,725	e*	Charming Shoppes, Inc		154,798
35,479	*	Chico's FAS, Inc		190,522
6,837	*	Children's Place Retail Stores, Inc		246,816
3,265		Christopher & Banks Corp		22,202
18,737	e*	Collective Brands, Inc		217,911
13,097	e*	Dress Barn, Inc		175,238
1,699	*	DSW, Inc (Class A)		20,014
8,987	e	Finish Line, Inc (Class A)		78,187
12,825	*	HOT Topic, Inc		69,383
7,396	e*	Jo-Ann Stores, Inc		170,330
4,190	*	JOS A Bank Clothiers, Inc		112,083
5,715	*	New York & Co, Inc		52,178
20,791	*	Pacific Sunwear Of California, Inc		177,347
2,598	e*	Shoe Carnival, Inc		30,630
11,590	e	Stage Stores, Inc		135,255
1,935		Syms Corp		26,316
7,327	e	Talbots, Inc		84,920
1,492	*	Tween Brands, Inc		24,558
		TOTAL APPAREL AND ACCESSORY STORES		2,691,562

243

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
APPAREL AND OTHER TEXTILE PRODUCTS - 0.40%
3,480	e	Columbia Sportswear Co	$	127,890
1,361	e*	G-III Apparel Group Ltd		16,795
2,246	*	Gymboree Corp		89,997
2,931	e*	Maidenform Brands, Inc		39,569
36,925	*	Quiksilver, Inc		362,604
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		636,855
AUTO REPAIR, SERVICES AND PARKING - 0.19%
2,837	*	Amerco, Inc		135,268
6,053	*	Dollar Thrifty Automotive Group, Inc		57,201
4,202	e	Monro Muffler, Inc		65,089
1,034	e*	Standard Parking Corp		18,819
958	*	Wright Express Corp		23,758
		TOTAL AUTO REPAIR, SERVICES AND PARKING		300,135
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.27%
2,891	*	America's Car-Mart, Inc		51,807
9,237	e	Asbury Automotive Group, Inc		118,695
4,401	e*	MarineMax, Inc		31,555
9,924	*	Rush Enterprises, Inc (Class A)		119,187
7,992	e	Sonic Automotive, Inc (Class A)		103,017
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		424,261
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.07%
3,943	e*	Builders FirstSource, Inc		20,937
20,242	e*	Central Garden and Pet Co (Class A)		82,992
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		103,929
BUSINESS SERVICES - 6.41%
118,117	e*	3Com Corp		250,408
13,162	e	Aaron Rents, Inc		293,907
12,574		ABM Industries, Inc		279,772
17,746		Acxiom Corp		203,902
13,599		Aircastle Ltd		114,368
2,136		American Software, Inc (Class A)		12,047
588	*	AMN Healthcare Services, Inc		9,949
3,734	e*	Ariba, Inc		54,927
1,406	e	Asset Acceptance Capital Corp		17,181
13,358	e*	Avocent Corp		248,459
62,138	e,v*	BearingPoint, Inc		50,953
1,599	*	BGC Partners, Inc (Class A)		12,072
1,187		Blackbaud, Inc		25,402
6,833	*	Bottomline Technologies, Inc		66,485
14,820		Brady Corp (Class A)		511,735
7,105	*	CACI International, Inc (Class A)		325,196
546	*	CAI International, Inc		9,500
16,446	*	Ciber, Inc		102,130
14,696	e*	CMGI, Inc		155,778
5,018	*	Cogent, Inc		57,055
6,919	e	Compass Diversified Trust		79,084
776		Computer Programs & Systems, Inc		13,448
4,259	*	COMSYS IT Partners, Inc		38,842

244

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,061	*	CSG Systems International, Inc	$	55,772
3,338	*	DealerTrack Holdings, Inc		47,099
680	e*	Deltek, Inc		5,154
7,524		Deluxe Corp		134,078
6,291	e*	DynCorp International, Inc (Class A)		95,309
6,073		Electro Rent Corp		76,155
17,299	*	Epicor Software Corp		119,536
3,346	*	EPIQ Systems, Inc		47,513
14,102		Fair Isaac Corp		292,899
2,912	e*	First Advantage Corp (Class A)		46,155
5,915		FTD Group, Inc		78,847
7,115	e*	Gerber Scientific, Inc		80,969
6,824	e	Gevity HR, Inc		36,713
4,413	e*	Global Cash Access, Inc		30,273
4,752	*	H&E Equipment Services, Inc		57,119
5,001	e	Heidrick & Struggles International, Inc		138,228
2,720	e*	HSW International, Inc		7,888
1,201	*	Hudson Highland Group, Inc		12,574
5,147	*	Hypercom Corp		22,647
4,523	e*	i2 Technologies, Inc		56,221
1,218	*	ICT Group, Inc		9,988
9,497		infoGROUP, Inc		41,692
4,411		Infospace, Inc		36,744
5,771		Interactive Data Corp		145,025
7,348	*	Internap Network Services Corp		34,389
3,502	e*	Internet Brands, Inc		23,218
4,825	*	Internet Capital Group, Inc		37,297
2,441	*	Interwoven, Inc		29,316
1,368		Jack Henry & Associates, Inc		29,604
6,886	*	JDA Software Group, Inc		124,637
7,546		Kelly Services, Inc (Class A)		145,864
1,450	*	Kenexa Corp		27,318
3,678	e*	Keynote Systems, Inc		47,373
7,749	*	Kforce, Inc		65,789
12,529	*	Korn/Ferry International		197,081
3,580	e*	Limelight Networks, Inc		13,676
24,790	e*	Mentor Graphics Corp		391,682
1,070	*	Monotype Imaging Holdings, Inc		13,033
27,343	*	MPS Group, Inc		290,656
13,175	e*	MSC.Software Corp		144,662
10,298	e*	Ness Technologies, Inc		104,216
1,248	*	Netscout Systems, Inc		13,329
10,385	*	On Assignment, Inc		83,288
22,909	e*	OpenTV Corp (Class A)		30,011
1,940	e*	Parametric Technology Corp		32,340
2,323		PC-Tel, Inc		22,278
3,091	*	PeopleSupport, Inc		26,274
9,277	*	Perficient, Inc		89,616
25,849	*	Perot Systems Corp (Class A)		387,993
1,490	*	Portfolio Recovery Associates, Inc		55,875
2,922	*	Premiere Global Services, Inc		42,603
858	*	Progress Software Corp		21,939
21,014	e*	Quest Software, Inc		311,217
6,581	*	Radisys Corp		59,624

245

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,444	*	Raser Technologies, Inc	$	53,025
16,379	*	RealNetworks, Inc		108,101
19,527	e*	Rent-A-Center, Inc		401,670
4,082	*	S1 Corp		30,901
12,169	e*	Secure Computing Corp		50,380
4,038	e*	SI International, Inc		84,556
1,484	*	Smith Micro Software, Inc		8,459
14,562	*	SonicWALL, Inc		93,925
1,136	*	Sourcefire, Inc		8,781
7,846	*	Spherion Corp		36,249
5,621	e*	SRA International, Inc (Class A)		126,248
4,285	*	SupportSoft, Inc		13,926
3,758	*	Sybase, Inc		110,560
4,876	e*	SYNNEX Corp		122,339
3,337	e	TAL International Group, Inc		75,883
1,465	e	Textainer Group Holdings Ltd		28,611
1,972		TheStreet.com, Inc		12,838
5,972	*	THQ, Inc		120,993
55,219	*	TIBCO Software, Inc		422,425
905	*	TNS, Inc		21,684
11,621	*	TrueBlue, Inc		153,513
19,797	e	United Online, Inc		198,564
6,286		Viad Corp		162,116
3,305	*	Vignette Corp		39,660
390	*	Virtusa Corp		3,951
3,672	e*	Volt Information Sciences, Inc		43,734
1,181	*	Websense, Inc		19,888
6,159	*	Website Pros, Inc		51,304
		TOTAL BUSINESS SERVICES		10,107,680
CHEMICALS AND ALLIED PRODUCTS - 3.90%
4,011	*	Albany Molecular Research, Inc		53,226
6,031	e*	Alpharma, Inc (Class A)		135,878
14,947	e*	Applera Corp		169,798
4,929	e	Arch Chemicals, Inc		163,396
16,859	e*	Arena Pharmaceuticals, Inc		87,498
4,649	e*	Aventine Renewable Energy Holdings, Inc		20,456
4,253	*	Cambrex Corp		24,965
361	*	Chattem, Inc		23,483
4,976	*	China Precision Steel, Inc		21,845
2,064	*	Cypress Bioscience, Inc		14,840
2,151	e*	Cytokinetics, Inc		7,980
7,397	e*	Elizabeth Arden, Inc		112,286
1,292	e*	Emergent Biosolutions, Inc		12,830
1,862		Ferro Corp		34,931
8,405	*	Geron Corp		28,997
15,714		H.B. Fuller Co		352,622
14,951	e	Hercules, Inc		253,120
35,093	*	Human Genome Sciences, Inc		182,835
5,009	*	ICO, Inc		30,154
1,569	e	Innophos Holdings, Inc		50,130
2,835	e	Innospec, Inc		53,355
3,718	e	Inter Parfums, Inc		55,770
4,539		Kaiser Aluminum Corp		242,973

246

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,660		Koppers Holdings, Inc	$	236,984
3,839		Mannatech, Inc		20,884
8,414	e*	MannKind Corp		25,242
3,075	e	Minerals Technologies, Inc		195,539
13,840	e*	Nabi Biopharmaceuticals		54,530
1,331	e	NL Industries, Inc		12,684
21,772	e	Olin Corp		569,991
8,806	e*	OM Group, Inc		288,749
3,483	e*	Pacific Ethanol, Inc		6,304
9,991	*	Par Pharmaceutical Cos, Inc		162,154
8,865	*	PharMerica Corp		200,260
27,484	*	PolyOne Corp		191,563
10,245	*	Prestige Brands Holdings, Inc		109,212
12,021	*	Rockwood Holdings, Inc		418,331
13,996	e*	Salix Pharmaceuticals Ltd		98,392
1,444	e	Sciele Pharma, Inc		27,941
13,904		Sensient Technologies Corp		391,537
3,937	*	Solutia, Inc		50,472
1,249		Stepan Co		56,979
13,218	*	Unifi, Inc		33,309
23,185	e*	USEC, Inc		140,965
10,464	*	Valeant Pharmaceuticals International		179,039
30,067	e*	Verasun Energy Corp		124,177
20,359	e*	Viropharma, Inc		225,171
5,517		Westlake Chemical Corp		81,983
5,017	e*	WR Grace & Co		117,849
		TOTAL CHEMICALS AND ALLIED PRODUCTS		6,153,609
COMMUNICATIONS - 2.40%
6,610	e	Alaska Communications Systems Group, Inc		78,923
7,933	e*	Anixter International, Inc		471,934
2,680	e	Atlantic Tele-Network, Inc		73,727
5,308	e*	Audiovox Corp (Class A)		52,125
14,402	*	Brightpoint, Inc		105,135
2,638	*	Centennial Communications Corp		18,440
70,905	e*	Charter Communications, Inc (Class A)		74,450
72,405	*	Cincinnati Bell, Inc		288,172
53,158	e*	Citadel Broadcasting Corp		64,853
4,145	e	Consolidated Communications Holdings, Inc		61,719
8,011	e*	Cox Radio, Inc (Class A)		94,530
1,637	e*	Crown Media Holdings, Inc (Class A)		7,759
7,713	e*	Cumulus Media, Inc (Class A)		30,389
732	*	DG FastChannel, Inc		12,627
8,548	e	Entercom Communications Corp (Class A)		60,007
10,276	e*	Entravision Communications Corp (Class A)		41,310
25,928	e	Fairpoint Communications, Inc		186,941
35,225	e*	FiberTower Corp		49,315
1,932		Fisher Communications, Inc		66,538
30,643	*	Foundry Networks, Inc		362,200
13,535	e*	General Communication, Inc (Class A)		92,985
4,735	e*	GeoEye, Inc		83,857
5,361	e*	Global Crossing Ltd		96,176
12,267	*	Globalstar, Inc		34,716
12,178	e	Gray Television, Inc		34,951

247

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,950		Ibasis, Inc	$	29,356
20,532	e*	ICO Global Communications Holdings Ltd		66,934
14,434	e	IDT Corp (Class B)		24,538
8,556	e	Iowa Telecommunications Services, Inc		150,671
3,391	e*	iPCS, Inc		100,475
8,309	e*	Knology, Inc		91,316
7,646	e*	Lin TV Corp (Class A)		45,570
1,697	*	Mastec, Inc		18,090
12,306	e*	Mediacom Communications Corp (Class A)		65,714
5,179	*	Novatel Wireless, Inc		57,642
1,677	*	Orbcomm, Inc		9,559
9,566	e*	PAETEC Holding Corp		60,744
749	e	Preformed Line Products Co		30,192
5,678	e*	RCN Corp		61,209
2,608	e*	Rural Cellular Corp (Class A)		116,082
974	e	Shenandoah Telecom Co		12,681
9,513	e	Sinclair Broadcast Group, Inc (Class A)		72,299
7,828	*	Syniverse Holdings, Inc		126,814
11,915	*	TerreStar Corp		47,422
6,850	e	USA Mobility, Inc		51,718
4,983	e*	Vonage Holdings Corp		8,272
		TOTAL COMMUNICATIONS		3,791,077
DEPOSITORY INSTITUTIONS - 11.46%
4,000	e	1st Source Corp		64,400
7,016	e	Abington Bancorp, Inc		63,986
6,376	e	Amcore Financial, Inc		36,088
3,800	e	Ameris Bancorp		33,060
1,771		Ames National Corp		29,629
5,560	e	Anchor Bancorp Wisconsin, Inc		38,976
2,473		Arrow Financial Corp		44,835
2,292	e	Bancfirst Corp		98,098
7,750	e	Banco Latinoamericano de Exportaciones S.A.		125,473
5,144		BancTrust Financial Group, Inc		33,899
14,777	e	Bank Mutual Corp		148,361
3,150	e	Bank of the Ozarks, Inc		46,809
6,473	e	BankFinancial Corp		84,214
4,503	e	Banner Corp		39,897
10,030	e*	Beneficial Mutual Bancorp, Inc		111,032
3,080		Berkshire Hills Bancorp, Inc		72,842
10,812	e	Boston Private Financial Holdings, Inc		61,304
16,792		Brookline Bancorp, Inc		160,364
839		Brooklyn Federal Bancorp, Inc		10,110
1,935		Bryn Mawr Bank Corp		33,863
2,188		Camden National Corp		50,937
3,416	e	Capital City Bank Group, Inc		74,332
4,112	e	Capitol Bancorp Ltd		36,885
2,627		Cardinal Financial Corp		16,445
5,907	e	Cascade Bancorp		45,484
15,030	e	Cathay General Bancorp		163,376
2,646		Centerstate Banks of Florida, Inc		29,185
8,066	e	Central Pacific Financial Corp		85,984
7,188	e	Chemical Financial Corp		146,635
2,551		Citizens & Northern Corp		42,245

248

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
22,659	e	Citizens Banking Corp	$	63,898
3,609	e	City Bank		31,037
4,830	e	City Holding Co		196,919
3,223	e	Clifton Savings Bancorp, Inc		31,392
5,492	e	CoBiz, Inc		36,137
58,934		Colonial Bancgroup, Inc		260,488
5,313	e	Columbia Banking System, Inc		102,700
8,691	e	Community Bank System, Inc		179,208
4,333	e	Community Trust Bancorp, Inc		113,785
10,875	e	Corus Bankshares, Inc		45,240
19,105	e	CVB Financial Corp		180,351
7,100	e	Dime Community Bancshares		117,221
5,816	e	Downey Financial Corp		16,110
18,451		East West Bancorp, Inc		130,264
1,888	*	Encore Bancshares, Inc		29,547
1,543	e	Enterprise Financial Services Corp		29,086
4,869		ESSA Bancorp, Inc		60,960
13,697	*	Euronet Worldwide, Inc		231,479
1,707		Farmers Capital Bank Corp		30,077
3,074		Financial Institutions, Inc		49,368
3,972	e	First Bancorp		50,206
21,576	e	First Bancorp		136,792
2,429		First Bancorp, Inc		33,156
7,091	e	First Busey Corp		93,743
21,839	e	First Commonwealth Financial Corp		203,758
2,932	e	First Community Bancshares, Inc		82,682
10,650	e	First Financial Bancorp		97,980
5,261	e	First Financial Bankshares, Inc		241,006
3,618	e	First Financial Corp		110,747
3,381	e	First Financial Holdings, Inc		58,086
6,700		First Financial Northwest, Inc		66,531
5,205	e	First Merchants Corp		94,471
14,474	e	First Midwest Bancorp, Inc		269,940
31,281	e	First Niagara Financial Group, Inc		402,274
4,780	e	First Place Financial Corp		44,932
2,276		First South Bancorp, Inc		29,315
3,787	e*	FirstFed Financial Corp		30,447
23,660	e	FirstMerit Corp		385,895
12,504	e	Flagstar Bancorp, Inc		37,637
6,118	e	Flushing Financial Corp		115,936
24,998	e	FNB Corp		294,476
1,815	*	Fox Chase Bancorp, Inc		18,622
13,495	e	Frontier Financial Corp		114,977
15,417	e	Glacier Bancorp, Inc		246,518
3,521	e	Greene County Bancshares, Inc		49,364
14,466	e*	Guaranty Bancorp		52,078
7,249	e	Hancock Holding Co		284,813
10,525	e	Hanmi Financial Corp		54,835
8,979	e	Harleysville National Corp		100,206
3,544	e	Heartland Financial USA, Inc		64,465
3,761	e	Heritage Commerce Corp		37,234
3,740	e	Home Bancshares, Inc		84,075
1,726		Home Federal Bancorp, Inc		17,018
3,670	e	IBERIABANK Corp		163,205

249

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,667	e	Independent Bank Corp	$	111,261
29,520	v*	IndyMac Bancorp, Inc		16,531
5,813	e	Integra Bank Corp		45,516
15,119	e	International Bancshares Corp		323,093
13,533	*	Investors Bancorp, Inc		176,741
6,184	e	Kearny Financial Corp		68,024
5,742	e	Lakeland Bancorp, Inc		69,938
3,548	e	Lakeland Financial Corp		67,696
5,423	e	MainSource Financial Group, Inc		84,057
987		MASSBANK Corp		39,065
9,972	e	MB Financial, Inc		224,071
2,912	*	Meridian Interstate Bancorp, Inc		28,305
6,214	e	Midwest Banc Holdings, Inc		30,262
6,420	e	Nara Bancorp, Inc		68,887
1,175	e	NASB Financial, Inc		20,892
22,745	e	National Penn Bancshares, Inc		302,054
9,557	e	NBT Bancorp, Inc		196,970
31,247	e	NewAlliance Bancshares, Inc		389,963
5,090	*	Northfield Bancorp, Inc		54,718
5,306	e	Northwest Bancorp, Inc		115,777
2,318		OceanFirst Financial Corp		41,840
19,451	e	Old National Bancorp		277,371
3,960	e	Old Second Bancorp, Inc		46,015
6,990		Oriental Financial Group, Inc		99,677
939	e*	Oritani Financial Corp		15,024
13,556	e	Pacific Capital Bancorp		186,802
3,037		Pacific Continental Corp		33,377
6,994		PacWest Bancorp		104,071
3,406	e	Park National Corp		183,583
2,326		Peapack Gladstone Financial Corp		51,102
1,482	*	Pennsylvania Commerce Bancorp, Inc		35,642
3,243		Peoples Bancorp, Inc		61,552
5,051	e*	Pinnacle Financial Partners, Inc		101,475
5,562		Premierwest Bancorp		32,482
11,208	e	Prosperity Bancshares, Inc		299,590
9,412	e	Provident Bankshares Corp		60,049
17,937		Provident Financial Services, Inc		251,297
11,900	e	Provident New York Bancorp		131,614
6,170	e	Renasant Corp		90,884
2,806	e	Republic Bancorp, Inc (Class A)		69,028
2,660	e	Rockville Financial, Inc		33,410
2,910	e	Roma Financial Corp		38,121
7,300	e	S&T Bancorp, Inc		212,138
3,332	e	S.Y. Bancorp, Inc		71,172
4,554	e	Sandy Spring Bancorp, Inc		75,505
1,200	e	Santander BanCorp		12,732
2,840	e	SCBT Financial Corp		81,110
4,339	e	Seacoast Banking Corp of Florida		33,671
2,368		Shore Bancshares, Inc		44,329
2,157		Sierra Bancorp		35,591
878	*	Signature Bank		22,617
4,040	e	Simmons First National Corp (Class A)		112,999
2,232		Smithtown Bancorp, Inc		36,270
21,359	e	South Financial Group, Inc		83,727

250

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
3,472	e	Southside Bancshares, Inc	$	64,024
3,906		Southwest Bancorp, Inc		44,919
4,159		State Bancorp, Inc		51,988
6,474		StellarOne Corp		94,520
5,180	e	Sterling Bancorp		61,901
21,262	e	Sterling Bancshares, Inc		193,272
14,846	e	Sterling Financial Corp		61,462
1,567	e	Suffolk Bancorp		46,038
4,567	e*	Sun Bancorp, Inc		46,360
25,013	e	Susquehanna Bancshares, Inc		342,428
7,100	e*	SVB Financial Group		341,581
6,906	*	Texas Capital Bancshares, Inc		110,496
1,893	e	Tompkins Trustco, Inc		70,420
5,995		TowneBank		90,285
3,888	e	Trico Bancshares		42,574
13,608		Trustco Bank Corp NY		100,971
14,322	e	Trustmark Corp		252,783
32,408	e	UCBH Holdings, Inc		72,918
9,145	e	UMB Financial Corp		468,864
18,064	e	Umpqua Holdings Corp		219,116
4,075	e	Union Bankshares Corp		60,677
10,818	e	United Bankshares, Inc		248,273
12,570	e	United Community Banks, Inc		107,222
7,610	e	United Community Financial Corp		28,538
4,960		United Financial Bancorp, Inc		55,403
2,434		United Security Bancshares		35,390
3,656	e	Univest Corp of Pennsylvania		72,608
1,003		ViewPoint Financial Group		14,764
30,463	e	W Holding Co, Inc		24,370
3,195	e	Washington Trust Bancorp, Inc		62,942
2,427	e*	Wauwatosa Holdings, Inc		25,775
7,620	e	WesBanco, Inc		130,683
4,906		West Bancorporation, Inc		42,682
4,571	e	West Coast Bancorp		39,631
4,792	e	Westamerica Bancorporation		252,011
4,971	e*	Western Alliance Bancorp		38,575
8,597	e	Westfield Financial, Inc		77,803
5,595	e	Wilshire Bancorp, Inc		47,949
6,936	e	Wintrust Financial Corp		165,424
1,956		WSFS Financial Corp		87,238
3,272		Yadkin Valley Financial Corp		39,100
		TOTAL DEPOSITORY INSTITUTIONS		18,065,101
EATING AND DRINKING PLACES - 0.75%
3,142	e*	AFC Enterprises		25,105
944	*	BJ's Restaurants, Inc		9,185
9,121	e	Bob Evans Farms, Inc		260,861
1,442	*	California Pizza Kitchen, Inc		16,136
2,236	e	CBRL Group, Inc		54,804
873	*	CEC Entertainment, Inc		24,453
11,877	e*	Domino's Pizza, Inc		136,586
6,651	e*	Jack in the Box, Inc		149,049
3,710	e	Landry's Restaurants, Inc		66,669
5,973	*	Luby's, Inc		36,435

251

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,859		O'Charleys, Inc	$	58,942
1,592	e*	Papa John's International, Inc		42,331
362	*	PF Chang's China Bistro, Inc		8,087
426	*	Red Robin Gourmet Burgers, Inc		11,817
14,927	e	Ruby Tuesday, Inc		80,606
2,580	*	Ruth's Chris Steak House, Inc		13,364
2,438	*	Sonic Corp		36,082
8,956	e*	Steak N Shake Co		56,691
15,630		Triarc Cos (Class B)		98,938
		TOTAL EATING AND DRINKING PLACES		1,186,141
EDUCATIONAL SERVICES - 0.03%
530	*	Lincoln Educational Services Corp		6,164
3,928	*	Universal Technical Institute, Inc		48,943
		TOTAL EDUCATIONAL SERVICES		55,107
ELECTRIC, GAS, AND SANITARY SERVICES - 6.46%
7,490	e	Allete, Inc		314,580
5,154	e	American States Water Co		180,081
109,715	e*	Aquila, Inc		413,626
15,582		Avista Corp		334,390
11,182		Black Hills Corp		358,495
5,900	e	California Water Service Group		193,343
3,262	*	Casella Waste Systems, Inc (Class A)		39,764
2,897		Central Vermont Public Service Corp		56,115
4,634	e	CH Energy Group, Inc		164,831
1,807		Chesapeake Utilities Corp		46,476
17,621		Cleco Corp		411,098
2,088		Connecticut Water Service, Inc		46,771
13,354	e*	El Paso Electric Co		264,409
9,997		Empire District Electric Co		185,344
1,469	e	EnergySouth, Inc		72,069
2,541	e*	EnerNOC, Inc		45,611
12,984	e	Idacorp, Inc		375,108
6,426	e	Laclede Group, Inc		259,418
6,279	e	MGE Energy, Inc		204,821
3,451		Middlesex Water Co		57,252
12,399	e	New Jersey Resources Corp		404,827
13,145	e	Nicor, Inc		559,846
7,871	e	Northwest Natural Gas Co		364,112
11,506		NorthWestern Corp		292,483
8,674	e	Otter Tail Corp		336,811
4,679	e*	Pico Holdings, Inc		203,303
21,899		Piedmont Natural Gas Co, Inc		572,878
3,332	*	Pike Electric Corp		55,345
23,460	*	Plug Power, Inc		55,131
22,386	e	PNM Resources, Inc		267,737
18,023		Portland General Electric Co		405,878
3,541	e	Resource America, Inc (Class A)		33,002
3,919	e	SJW Corp		103,462
8,737	e	South Jersey Industries, Inc		326,414
12,518		Southwest Gas Corp		372,160
7,360	e	Southwest Water Co		73,747
7,430	e	UIL Holdings Corp		218,516

252

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
10,289	e	Unisource Energy Corp	$	319,062
6,841	e*	Waste Services, Inc		48,161
30,043		Westar Energy, Inc		646,225
14,389		WGL Holdings, Inc		499,874
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		10,182,576
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.51%
7,286	*	Actel Corp		122,769
1,689	e	Acuity Brands, Inc		81,207
35,280	*	Adaptec, Inc		112,896
7,401		Adtran, Inc		176,440
7,555	*	Advanced Energy Industries, Inc		103,504
1,000	e*	Airvana, Inc		5,360
27,879	*	Amkor Technology, Inc		290,220
12,851	e*	Applied Micro Circuits Corp		110,005
2,659		Applied Signal Technology, Inc		36,322
35,867	*	Arris Group, Inc		303,076
2,075	*	AZZ, Inc		82,793
13,411		Baldor Electric Co		469,117
3,534		Bel Fuse, Inc (Class B)		87,325
16,319	*	Benchmark Electronics, Inc		266,652
29,532	*	Bookham, Inc		49,909
7,664	e*	Ceradyne, Inc		262,875
1,547	*	Ceva, Inc		12,330
11,554	*	Checkpoint Systems, Inc		241,248
1,979	*	China BAK Battery, Inc		9,321
2,540	*	CPI International, Inc		31,242
9,894		CTS Corp		99,435
4,438	e	Cubic Corp		98,879
8,156	*	DSP Group, Inc		57,092
8,280	*	Electro Scientific Industries, Inc		117,328
4,488	*	EMS Technologies, Inc		98,018
5,727	*	EnerSys		196,035
1,340	e*	Entropic Communications, Inc		6,365
9,851	e*	Exar Corp		74,277
2,534		Franklin Electric Co, Inc		98,269
1,965	*	Globecomm Systems, Inc		16,231
5,477	*	GrafTech International Ltd		146,948
6,626	e*	Greatbatch, Inc		114,630
15,194	*	Harmonic, Inc		144,495
7,474	*	Harris Stratex Networks, Inc (Class A)		70,928
9,038	e*	Helen of Troy Ltd		145,693
7,335	e*	Hutchinson Technology, Inc		98,582
8,948	e	Imation Corp		205,088
2,131	*	IXYS Corp		25,444
24,126	e*	Kemet Corp		78,168
17,982	e*	Lattice Semiconductor Corp		56,284
3,778	*	Littelfuse, Inc		119,196
3,252	*	Loral Space & Communications, Inc		57,300
5,389		LSI Industries, Inc		43,759
14,479	e*	Mattson Technology, Inc		68,920
6,770	*	Mercury Computer Systems, Inc		50,978
10,596		Methode Electronics, Inc		110,728
11,375	*	MIPS Technologies, Inc		42,656

253

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
10,990	*	Moog, Inc (Class A)	$	409,268
45,866	e*	MRV Communications, Inc		54,581
454	e*	Multi-Fineline Electronix, Inc		12,562
1,307	e	National Presto Industries, Inc		83,883
13,555	e*	Omnivision Technologies, Inc		163,880
3,293	*	Oplink Communications, Inc		31,613
2,497	*	OpNext, Inc		13,434
1,252	*	Optium Corp		9,115
1,217	*	OSI Systems, Inc		26,068
1,350	e	Park Electrochemical Corp		32,819
12,042	*	Photronics, Inc		84,776
14,046		Plantronics, Inc		313,507
1,246	*	Plexus Corp		34,489
26,210	e*	PMC - Sierra, Inc		200,507
1,716	*	Polycom, Inc		41,802
249	*	Powell Industries, Inc		12,552
19,892	e*	Power-One, Inc		37,596
37,615	e*	Powerwave Technologies, Inc		159,864
3,574	*	Radyne Corp		40,851
9,430	e	Regal-Beloit Corp		398,418
76,923	e*	RF Micro Devices, Inc		223,077
5,194	*	Rogers Corp		195,242
107,246	*	Sanmina-SCI Corp		137,275
9,009	e*	Seachange International, Inc		64,504
1,285	*	Semtech Corp		18,080
1,830	*	ShoreTel, Inc		8,089
25,395	*	Silicon Storage Technology, Inc		70,344
15,848	e*	Skyworks Solutions, Inc		156,420
12,989	*	Smart Modular Technologies WWH, Inc		49,748
31,979	e*	Spansion, Inc (Class A)		71,953
11,184	e*	Spectrum Brands, Inc		28,519
3,118	e*	Standard Microsystems Corp		84,654
4,443	e*	Stoneridge, Inc		75,798
49,596	*	Sycamore Networks, Inc		159,699
13,462	e*	Symmetricom, Inc		51,694
2,328	*	Synthesis Energy Systems, Inc		20,952
11,084		Technitrol, Inc		188,317
17,010	e*	Tekelec		250,217
10,789	*	Trident Microsystems, Inc		39,380
40,922	*	Triquint Semiconductor, Inc		247,987
11,137	*	TTM Technologies, Inc		147,120
4,998	*	Ultra Clean Holdings		39,784
458	*	United Capital Corp		8,794
30,730	e*	Utstarcom, Inc		168,093
3,417	*	Valence Technology, Inc		15,137
5,829	*	Viasat, Inc		117,804
15,095	*	Zoran Corp		176,612
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		10,273,215
ENGINEERING AND MANAGEMENT SERVICES - 0.63%
3,478		CDI Corp		88,480
3,095	e*	Cornell Cos, Inc		74,620
1,175	e*	CRA International, Inc		42,476
1,136	*	Exponent, Inc		35,682

254

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,721	*	Furmanite Corp	$	21,714
556	*	Greenfield Online, Inc		8,296
1,774	*	ICF International, Inc		29,484
1,330		Landauer, Inc		74,799
3,996	*	LECG Corp		34,925
16,627	*	Lexicon Pharmaceuticals, Inc		26,603
4,871		MAXIMUS, Inc		169,608
6,390	e*	Maxygen, Inc		21,662
1,822	*	Michael Baker Corp		39,865
4,941	e*	PharmaNet Development Group, Inc		77,920
4,544	e*	Symyx Technologies, Inc		31,717
4,240	e	Watson Wyatt & Co Holdings (Class A)		224,254
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		1,002,105
FABRICATED METAL PRODUCTS - 1.20%
2,145	e	Ameron International Corp		257,357
815		CIRCOR International, Inc		39,927
6,164	e*	Commercial Vehicle Group, Inc		57,633
8,540	e*	Griffon Corp		74,810
4,557		Insteel Industries, Inc		83,439
4,146	*	Ladish Co, Inc		85,366
1,890	e*	Mobile Mini, Inc		37,800
33,521	e	Mueller Water Products, Inc (Class A)		270,514
5,770	e*	NCI Building Systems, Inc		211,932
2,445	*	Park-Ohio Holdings Corp		36,088
4,308		Quanex Building Products Corp		64,017
3,471		Silgan Holdings, Inc		176,119
10,666	e	Simpson Manufacturing Co, Inc		253,211
4,184	e*	Trimas Corp		25,062
8,796	e	Watts Water Technologies, Inc (Class A)		219,020
		TOTAL FABRICATED METAL PRODUCTS		1,892,295
FOOD AND KINDRED PRODUCTS - 1.16%
5,750		B&G Foods, Inc (Class A)		53,705
2,017	e	Farmer Bros Co		42,660
9,148	e	Flowers Foods, Inc		259,254
3,851	e	Imperial Sugar Co		59,806
3,995		J&J Snack Foods Corp		109,503
6,564		Lance, Inc		123,206
3,508	*	M&F Worldwide Corp		137,899
2,625		National Beverage Corp		19,084
5,314	*	Omega Protein Corp		79,444
3,088		Penford Corp		45,949
5,694	e*	Ralcorp Holdings, Inc		281,511
5,215	e	Reddy Ice Holdings, Inc		71,341
4,880	e	Sanderson Farms, Inc		168,458
4,250	*	Smart Balance, Inc		30,643
4,879	e	Tootsie Roll Industries, Inc		122,609
9,230	e*	TreeHouse Foods, Inc		223,920
		TOTAL FOOD AND KINDRED PRODUCTS		1,828,992
FOOD STORES - 0.62%
6,475	e*	Great Atlantic & Pacific Tea Co, Inc		147,760
3,536	e	Ingles Markets, Inc (Class A)		82,495

255

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,357	e*	Pantry, Inc	$	57,106
11,779		Ruddick Corp		404,137
2,276	*	Susser Holdings Corp		22,032
939		Village Super Market (Class A)		36,227
3,407		Weis Markets, Inc		110,625
6,898	*	Winn-Dixie Stores, Inc		110,506
		TOTAL FOOD STORES		970,888
FURNITURE AND FIXTURES - 0.70%
7,064	e	Ethan Allen Interiors, Inc		173,774
12,574	e	Furniture Brands International, Inc		167,989
7,217		Herman Miller, Inc		179,631
11,737		HNI Corp		207,275
2,995	e	Hooker Furniture Corp		51,873
9,262		Kimball International, Inc (Class B)		76,689
14,747	e	La-Z-Boy, Inc		112,815
12,913	e	Sealy Corp		74,121
8,344		Tempur-Pedic International, Inc		65,167
		TOTAL FURNITURE AND FIXTURES		1,109,334
FURNITURE AND HOMEFURNISHINGS STORES - 0.22%
49,481		Circuit City Stores, Inc		143,000
4,300	e	Haverty Furniture Cos, Inc		43,172
1,371		Knoll, Inc		16,658
22,490	e*	Pier 1 Imports, Inc		77,366
2,508	*	Rex Stores Corp		28,967
8,837	e	Tuesday Morning Corp		36,320
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		345,483
GENERAL BUILDING CONTRACTORS - 0.65%
439	e	Amrep Corp		20,892
1,627	e*	Avatar Holdings, Inc		49,282
12,318	e	Beazer Homes USA, Inc		68,611
3,325	e	Brookfield Homes Corp		40,831
391	*	Cavco Industries, Inc		12,797
13,264	e*	Hovnanian Enterprises, Inc (Class A)		72,687
4,104	e	M/I Homes, Inc		64,556
2,058		McGrath RentCorp		50,606
8,796	e*	Meritage Homes Corp		133,435
2,815	e*	Palm Harbor Homes, Inc		15,567
4,692	*	Perini Corp		155,071
12,400		Ryland Group, Inc		270,444
20,391	e	Standard-Pacific Corp		68,922
		TOTAL GENERAL BUILDING CONTRACTORS		1,023,701
GENERAL MERCHANDISE STORES - 0.52%
5,745	e*	99 Cents Only Stores		37,917
14,813		Casey's General Stores, Inc		343,217
3,250	e*	Conn's, Inc		52,228
16,643		Dillard's, Inc (Class A)		192,560
12,083	e	Fred's, Inc		135,813
8,048	*	Retail Ventures, Inc		37,021
6,538	e	Stein Mart, Inc		29,486
		TOTAL GENERAL MERCHANDISE STORES		828,242

256

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
HEALTH SERVICES - 1.49%
1,103	*	Alliance Imaging, Inc	$	9,563
9,039	*	Amsurg Corp		220,100
12,694	e*	Apria Healthcare Group, Inc		246,137
8,010	e*	Assisted Living Concepts, Inc (A Shares)		44,055
7,680	*	Cross Country Healthcare, Inc		110,669
2,212	e	Ensign Group, Inc		25,438
2,231	*	Enzo Biochem, Inc		25,032
8,755	*	Five Star Quality Care, Inc		41,411
4,482	e*	Gentiva Health Services, Inc		85,382
23,250	*	Healthsouth Corp		386,648
358	e*	IPC The Hospitalist Co, Inc		6,738
8,321	*	Kindred Healthcare, Inc		239,312
11,632	*	Magellan Health Services, Inc		430,733
4,591	*	Medcath Corp		82,546
437	e	National Healthcare Corp		20,028
15,830	*	Nektar Therapeutics		53,031
6,717	*	Nighthawk Radiology Holdings, Inc		47,556
7,903	e*	Odyssey HealthCare, Inc		76,975
5,410	*	RehabCare Group, Inc		86,722
5,053	*	Skilled Healthcare Group, Inc (Class A)		67,811
1,646	*	Sunrise Senior Living, Inc		37,002
		TOTAL HEALTH SERVICES		2,342,889
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.26%
517	e*	Comverge, Inc		7,228
9,637	e	Granite Construction, Inc		303,855
11,678		Great Lakes Dredge & Dock Corp		71,353
1,115	*	Sterling Construction Co, Inc		22,144
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		404,580
HOLDING AND OTHER INVESTMENT OFFICES - 13.08%
4,532		Acadia Realty Trust		104,916
2,450	e	Agree Realty Corp		54,023
194	*	Alexander's, Inc		60,256
11,472		American Campus Communities, Inc		319,383
2,924		American Capital Agency Corp		48,655
5,426	e*	Ampal American Israel (Class A)		24,471
17,418	e	Anthracite Capital, Inc		122,623
24,861		Anworth Mortgage Asset Corp		161,845
41,538	e	Apollo Investment Corp		595,240
4,339	e	Arbor Realty Trust, Inc		38,921
35,079	e	Ashford Hospitality Trust, Inc		162,065
1,593		Associated Estates Realty Corp		17,061
21,177	e	BioMed Realty Trust, Inc		519,472
12,160		Capital Lease Funding, Inc		91,078
931	e	Capital Southwest Corp		97,038
5,334	e	Capital Trust, Inc (Class A)		102,466
15,534		Capstead Mortgage Corp		168,544
3,884		Care Investment Trust, Inc		36,626
12,582		Cedar Shopping Centers, Inc		147,461
948	e	Cherokee, Inc		19,102
3,094		Cogdell Spencer, Inc		50,278

257

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
13,400		Colonial Properties Trust	$	268,268
11,124	e	Corporate Office Properties Trust		381,887
5,378		Cousins Properties, Inc		124,232
2,860		Danvers Bancorp, Inc		31,460
49,739	e	DCT Industrial Trust, Inc		411,839
27,920	e	DiamondRock Hospitality Co		304,049
4,725		EastGroup Properties, Inc		202,703
8,378		Education Realty Trust, Inc		97,604
8,939	e	Entertainment Properties Trust		441,944
1,971		Equity Lifestyle Properties, Inc		86,724
10,295	e	Equity One, Inc		211,562
24,035	e	Extra Space Storage, Inc		369,178
18,391		FelCor Lodging Trust, Inc		193,106
12,695	e	First Industrial Realty Trust, Inc		348,732
7,146		First Potomac Realty Trust		108,905
17,584	e	Franklin Street Properties Corp		222,262
44,475	e	Friedman Billings Ramsey Group, Inc (Class A)		66,713
5,009		Getty Realty Corp		72,180
6,034		Gladstone Capital Corp		91,958
6,466		Gladstone Investment Corp		41,576
11,070		Glimcher Realty Trust		123,763
12,077	e	Gramercy Capital Corp		139,972
6,828	*	Harris & Harris Group, Inc		40,968
3,329		Hatteras Financial Corp		76,534
14,966		Healthcare Realty Trust, Inc		355,742
12,114		Hersha Hospitality Trust		91,461
15,478	e	Highwoods Properties, Inc		486,319
13,508	e*	Hilltop Holdings, Inc		139,267
5,022		Home Properties, Inc		241,357
12,652	e	Inland Real Estate Corp		182,442
16,359	e	Investors Real Estate Trust		156,065
62,314	e	iShares Russell 2000 Value Index Fund		3,988,096
6,664	e	JER Investors Trust, Inc		41,983
5,887		Kite Realty Group Trust		73,588
11,939	e	LaSalle Hotel Properties		300,027
15,517	e	Lexington Corporate Properties Trust		211,497
7,120		LTC Properties, Inc		181,987
11,213	e	Maguire Properties, Inc		136,462
19,065	e	Medical Properties Trust, Inc		192,938
15,058	e*	Meruelo Maddux Properties, Inc		32,826
44,300		MFA Mortgage Investments, Inc		288,836
3,168		Mid-America Apartment Communities, Inc		161,695
5,436	e	Mission West Properties, Inc		59,579
5,784		Monmouth Real Estate Investment Corp (Class A)		37,018
7,030		MVC Capital, Inc		96,241
6,356	e	National Health Investors, Inc		181,210
21,461		National Retail Properties, Inc		448,535
15,459	e	Newcastle Investment Corp		108,368
17,762	e	NorthStar Realty Finance Corp		147,780
17,305		Omega Healthcare Investors, Inc		288,128
2,339		One Liberty Properties, Inc		38,149
4,580		Parkway Properties, Inc		154,483
6,182	e	PennantPark Investment Corp		44,572
10,181	e	Pennsylvania Real Estate Investment Trust		235,588

258

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
12,715	e	Post Properties, Inc	$	378,271
7,733	e	Potlatch Corp		348,913
7,639	e	Prospect Capital Corp		100,682
2,918		PS Business Parks, Inc		150,569
18,033	e	RAIT Investment Trust		133,805
4,472		Ramco-Gershenson Properties		91,855
29,832	e	Realty Income Corp		678,976
9,618		Redwood Trust, Inc		219,194
6,174	e	Resource Capital Corp		44,515
866		Saul Centers, Inc		40,693
28,014	e	Senior Housing Properties Trust		547,113
6,365		Sovran Self Storage, Inc		264,529
21,960	e	Strategic Hotels & Resorts, Inc		205,765
1,720		Sun Communities, Inc		31,356
17,126	e	Sunstone Hotel Investors, Inc		284,292
2,861		Universal Health Realty Income Trust		85,830
6,020	e	Urstadt Biddle Properties, Inc (Class A)		88,253
14,430		U-Store-It Trust		172,439
6,883		Washington Real Estate Investment Trust		206,834
15,985		Winthrop Realty Trust		57,546
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		20,633,312
HOTELS AND OTHER LODGING PLACES - 0.44%
7,240	e	Ameristar Casinos, Inc		100,057
4,696	e*	Bluegreen Corp		28,411
11,913	e*	Gaylord Entertainment Co		285,435
8,321	e*	Great Wolf Resorts, Inc		36,363
4,828	e*	Isle of Capri Casinos, Inc		23,126
5,258	e*	Lodgian, Inc		41,170
5,754	e	Marcus Corp		86,022
2,085	*	Monarch Casino & Resort, Inc		24,603
789	*	Morgans Hotel Group Co		8,127
4,621	*	Outdoor Channel Holdings, Inc		32,255
1,008	e*	Riviera Holdings Corp		10,231
352	*	Vail Resorts, Inc		15,076
		TOTAL HOTELS AND OTHER LODGING PLACES		690,876
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.19%
1,735	e	Actuant Corp (Class A)		54,392
1,733		Alamo Group, Inc		35,682
8,588	e	Albany International Corp (Class A)		249,052
8,177	*	Allis-Chalmers Energy, Inc		145,551
751		Ampco-Pittsburgh Corp		33,404
302	*	Astec Industries, Inc		9,706
12,862	e*	Asyst Technologies, Inc		45,917
30,287	*	Axcelis Technologies, Inc		147,801
5,199	e	Black Box Corp		141,361
11,249	*	Blount International, Inc		130,601
14,655	e	Briggs & Stratton Corp		185,825
18,599	*	Brooks Automation, Inc		153,814
2,621	e	Cascade Corp		110,921
6,767	e*	Cirrus Logic, Inc		37,625
4,855	*	Columbus McKinnon Corp		116,908
6,971	e*	Cray, Inc		32,345

259

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,075	e	Curtiss-Wright Corp	$	92,836
6,624	e*	Cymer, Inc		178,053
15,798	*	Electronics for Imaging, Inc		230,651
24,570	e*	Emulex Corp		286,241
5,345	*	EnPro Industries, Inc		199,582
31,124	*	Entegris, Inc		203,862
32,353	e*	Extreme Networks, Inc		91,883
2,979	e*	Gehl Co		44,059
1,864	*	Hurco Cos, Inc		57,579
4,720	e*	Immersion Corp		32,143
6,359	*	Intevac, Inc		71,730
3,982	*	Kadant, Inc		89,993
2,784		Lufkin Industries, Inc		231,852
9,747		Modine Manufacturing Co		120,570
1,771	e	Nacco Industries, Inc (Class A)		131,674
8,583	*	Netgear, Inc		118,960
696		NN, Inc		9,702
5,085	e	Palm, Inc		27,408
28,948	e*	Quantum Corp		39,080
7,544	*	Rackable Systems, Inc		101,090
2,610	*	Rimage Corp		32,338
3,479		Robbins & Myers, Inc		173,498
32,769	e*	Safeguard Scientifics, Inc		40,634
451		Sauer-Danfoss, Inc		14,049
1,789	*	Scansource, Inc		47,874
1,750	e*	Semitool, Inc		13,143
1,308	*	Sigma Designs, Inc		18,168
3,800	e	Standex International Corp		78,812
4,705	*	Tecumseh Products Co (Class A)		154,230
478	e	Tennant Co		14,373
3,010	*	Thermadyne Holdings Corp		44,518
2,249		Twin Disc, Inc		47,072
9,500	*	VeriFone Holdings, Inc		113,525
3,048	e	Watsco, Inc		127,406
3,489		Woodward Governor Co		124,418
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		5,033,911
INSTRUMENTS AND RELATED PRODUCTS - 2.44%
9,369	*	Affymetrix, Inc		96,407
3,875	*	Anaren, Inc		40,959
4,148	*	Angiodynamics, Inc		56,496
715	*	Argon ST, Inc		17,732
372	e	Badger Meter, Inc		18,797
13,934	*	Caliper Life Sciences, Inc		36,089
3,326	e*	Cantel Medical Corp		33,659
5,626	*	Cardiac Science Corp		46,133
6,858	*	Coherent, Inc		204,986
6,147		Cohu, Inc		90,238
7,934	*	Conmed Corp		210,648
345		Datascope Corp		16,215
3,673	*	Eagle Test Systems, Inc		41,138
1,582	*	Esterline Technologies Corp		77,929
16,506	*	ev3, Inc		156,477
1,636	*	Excel Technology, Inc		36,516

260

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
10,651	*	FEI Co	$	242,630
5,557	*	Formfactor, Inc		102,416
6,641	*	Hanger Orthopedic Group, Inc		109,510
2,571	*	Herley Industries, Inc		34,143
1,459	*	ICU Medical, Inc		33,382
800	e*	ICx Technologies, Inc		5,840
7,939	e	Invacare Corp		162,273
4,945	*	Ixia		34,368
18,057	*	Kopin Corp		51,824
16,795	e*	L-1 Identity Solutions, Inc		223,709
16,476	*	LTX Corp		36,247
4,785	*	Lydall, Inc		60,052
4,170	*	Measurement Specialties, Inc		73,350
2,500	*	Medical Action Industries, Inc		25,925
5,717	e	Mine Safety Appliances Co		228,623
13,605	*	MKS Instruments, Inc		297,950
4,978	e	Movado Group, Inc		98,564
3,274		MTS Systems Corp		117,471
10,522	e*	Newport Corp		119,846
2,479	*	NxStage Medical, Inc		9,519
3,283	e*	Orthofix International NV		95,043
5,345	*	Palomar Medical Technologies, Inc		53,343
1,177	*	Photon Dynamics Inc		17,749
8,019	e*	Rudolph Technologies, Inc		61,746
17,786	*	Sirf Technology Holdings, Inc		76,836
3,312	e*	Sonic Solutions, Inc		19,740
15,351	*	Star Scientific, Inc		18,421
7,650	*	Symmetry Medical, Inc		124,083
542	*	Varian, Inc		27,675
1,769	e*	Veeco Instruments, Inc		28,446
2,422	e*	Vital Images, Inc		30,130
4,363	*	Zygo Corp		42,888
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		3,844,161
INSURANCE AGENTS, BROKERS AND SERVICE - 0.53%
7,317	e*	Crawford & Co (Class B)		58,463
10,559		Hilb Rogal & Hobbs Co		458,894
11,538	e	National Financial Partners Corp		228,683
6,411	e*	United America Indemnity Ltd (Class A)		85,715
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		831,755
INSURANCE CARRIERS - 6.72%
84,035		Ambac Financial Group, Inc		112,607
3,386	*	AmCOMP, Inc		32,912
16,479		American Equity Investment Life Holding Co		134,304
2,550		American Physicians Capital, Inc		123,522
2,966	*	American Safety Insurance Holdings Ltd		42,651
15,628	*	AMERIGROUP Corp		325,062
5,394	*	Amerisafe, Inc		85,980
4,068	e	Amtrust Financial Services, Inc		51,257
6,036	*	Argo Group International Holdings Ltd		202,568
25,207		Aspen Insurance Holdings Ltd		596,650
16,535	e	Assured Guaranty Ltd		297,465
2,320	e	Baldwin & Lyons, Inc (Class B)		40,554

261

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
9,622	e	Castlepoint Holdings Ltd	$	87,464
11,576	*	Centene Corp		194,361
9,862	e*	Citizens, Inc		60,454
5,080	*	CNA Surety Corp		64,211
338	e*	Darwin Professional Underwriters, Inc		10,410
12,332		Delphi Financial Group, Inc (Class A)		285,362
3,919		Donegal Group, Inc (Class A)		62,195
1,730	e	EMC Insurance Group, Inc		41,658
13,937		Employers Holdings, Inc		288,496
579	*	Enstar Group Ltd		50,663
4,061		FBL Financial Group, Inc (Class A)		80,733
4,779	e*	First Acceptance Corp		15,293
3,362	e*	First Mercury Financial Corp		59,306
7,926		Flagstone Reinsurance Holdings Ltd		93,448
2,713	e*	Fpic Insurance Group, Inc		122,953
8,219	e*	Greenlight Capital Re Ltd (Class A)		187,886
1,364	*	Hallmark Financial Services		13,190
3,995	e	Harleysville Group, Inc		135,151
14,325	*	Healthspring, Inc		241,806
12,159		Horace Mann Educators Corp		170,469
1,770	e	Independence Holding Co		17,293
4,906	e	Infinity Property & Casualty Corp		203,697
15,898		IPC Holdings Ltd		422,092
1,404		Kansas City Life Insurance Co		58,617
4,512	e	LandAmerica Financial Group, Inc		100,121
14,143		Maiden Holdings Ltd		90,515
16,402	e	Max Re Capital Ltd		349,855
10,460	e	Meadowbrook Insurance Group, Inc		55,438
4,156	e*	Molina Healthcare, Inc		101,157
27,773	e	Montpelier Re Holdings Ltd		409,652
1,631	e	National Interstate Corp		29,978
685	e	National Western Life Insurance Co (Class A)		149,673
3,902	*	Navigators Group, Inc		210,903
1,577	e	NYMAGIC, Inc		30,215
7,214	e	Odyssey Re Holdings Corp		256,097
33,269		Phoenix Cos, Inc		253,177
14,449	e	Platinum Underwriters Holdings Ltd		471,182
9,197	*	PMA Capital Corp (Class A)		84,704
23,780		PMI Group, Inc		46,371
6,271	e	Presidential Life Corp		96,699
5,114	e*	Primus Guaranty Ltd		14,882
9,506	e*	ProAssurance Corp		457,334
3,679		Procentury Corp		58,275
20,512		Quanta Capital Holdings Ltd		54,152
23,565		Radian Group, Inc		34,169
5,582	e	RLI Corp		276,142
4,802		Safety Insurance Group, Inc		171,191
2,373	*	SCPIE Holdings Inc		66,420
5,922	*	SeaBright Insurance Holdings, Inc		85,751
15,920		Selective Insurance Group, Inc		298,659
4,198		State Auto Financial Corp		100,458
4,903	e	Stewart Information Services Corp		94,824
4,036	e*	Triple-S Management Corp (Class B)		65,989
6,596		United Fire & Casualty Co		177,630

262

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
11,434	e*	Universal American Financial Corp	$	116,855
18,429	e	Validus Holdings Ltd		391,616
10,937		Zenith National Insurance Corp		384,545
		TOTAL INSURANCE CARRIERS		10,597,369
LEATHER AND LEATHER PRODUCTS - 0.40%
1,800	*	CROCS, Inc		14,418
6,780	e*	Genesco, Inc		209,299
4,875	*	Iconix Brand Group, Inc		58,890
5,161	*	Steven Madden Ltd		94,859
13,943	e*	Timberland Co (Class A)		227,968
1,208	e	Weyco Group, Inc		32,048
		TOTAL LEATHER AND LEATHER PRODUCTS		637,482
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.02%
1,450	*	Emergency Medical Services Corp (Class A)		32,814
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		32,814
LUMBER AND WOOD PRODUCTS - 0.34%
957	e	American Woodmark Corp		20,221
11,707	e*	Champion Enterprises, Inc		68,486
30,085		Louisiana-Pacific Corp		255,422
1,970	e	Skyline Corp		46,295
4,815	e	Universal Forest Products, Inc		144,257
		TOTAL LUMBER AND WOOD PRODUCTS		534,681
METAL MINING - 1.08%
1,561	*	Allied Nevada Gold Corp		9,194
13,790	*	Apex Silver Mines Ltd		67,709
161,450	e*	Coeur d'Alene Mines Corp		468,205
37,315	*	Hecla Mining Co		345,537
14,989	*	Rosetta Resources, Inc		427,187
8,526	e	Royal Gold, Inc		267,375
8,684	e*	Stillwater Mining Co		102,732
3,096	e*	Uranium Resources, Inc		11,424
		TOTAL METAL MINING		1,699,363
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.47%
6,735	e	Blyth, Inc		81,022
19,580	e	Callaway Golf Co		231,631
8,226	e*	Jakks Pacific, Inc		179,738
2,779	e	Marine Products Corp		18,341
6,750	e	Nautilus, Inc		34,290
5,457	*	RC2 Corp		101,282
4,655	e*	Russ Berrie & Co, Inc		37,100
2,241	e*	Steinway Musical Instruments, Inc		59,162
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		742,566
MISCELLANEOUS RETAIL - 0.71%
6,390		Big 5 Sporting Goods Corp		48,372
9,073	e	Borders Group, Inc		54,438
4,864	*	Build-A-Bear Workshop, Inc		35,361
11,357	e*	Cabela's, Inc		125,041
4,729		Cash America International, Inc		146,599

263

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
6,394	*	CKX, Inc	$	55,948
4,906	e	Longs Drug Stores Corp		206,592
2,755	*	PC Connection, Inc		25,649
1,858	e	Systemax, Inc		32,794
8,419		World Fuel Services Corp		184,713
10,573	e*	Zale Corp		199,724
		TOTAL MISCELLANEOUS RETAIL		1,115,231
MOTION PICTURES - 0.49%
9,108	e*	Avid Technology, Inc		154,745
53,109	e*	Blockbuster, Inc (Class A)		132,773
5,381	e	Cinemark Holdings, Inc		70,276
22,249	*	Macrovision Solutions Corp		332,847
5,076	*	tw telecom inc		81,368
		TOTAL MOTION PICTURES		772,009
NONDEPOSITORY INSTITUTIONS - 1.12%
8,946		Advance America Cash Advance Centers, Inc		45,446
11,212	e	Advanta Corp (Class B)		70,523
28,131	e	Ares Capital Corp		283,560
3,683	e	BlackRock Kelso Capital Corp		34,841
10,441	e*	Boise, Inc		40,198
9,846	e	Chimera Investment Corp		88,712
4,713	e*	CompuCredit Corp		28,278
609	*	Credit Acceptance Corp		15,566
1,474	*	Doral Financial Corp		19,958
4,106	*	Encore Capital Group, Inc		36,256
2,994	e	Federal Agricultural Mortgage Corp (Class C)		74,191
7,647	e	Financial Federal Corp		167,928
9,704		First Marblehead Corp		24,939
10,902	*	Guaranty Financial Group, Inc		58,544
9,312	e	Hercules Technology Growth Capital, Inc		83,156
5,427	e	Kohlberg Capital Corp		54,270
22,115	e	MCG Capital Corp		88,018
4,348		Medallion Financial Corp		40,958
4,543	e	Nelnet, Inc (Class A)		51,018
4,820	e*	NewStar Financial, Inc		28,486
6,406	e	NGP Capital Resources Co		98,716
10,317	e*	Ocwen Financial Corp		47,974
5,893	e	Patriot Capital Funding, Inc		36,831
15,856	*	PHH Corp		243,390
1,248	e	TICC Capital Corp		6,814
1	e*	TICC Capital Corp		-
		TOTAL NONDEPOSITORY INSTITUTIONS		1,768,571
NONMETALLIC MINERALS, EXCEPT FUELS - 0.35%
5,196	e	AMCOL International Corp		147,878
4,549		Compass Minerals International, Inc		366,467
3,358	*	General Moly, Inc		26,427
216	*	United States Lime & Minerals, Inc		8,547
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		549,319
OIL AND GAS EXTRACTION - 3.76%
4,670	e	Berry Petroleum Co (Class A)		274,970

264

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
5,699	*	Bill Barrett Corp	$	338,578
10,044	*	BMB Munai, Inc		59,661
13,281	e*	Brigham Exploration Co		210,238
7,919	e*	Bronco Drilling Co, Inc		145,551
11,820	e*	Cal Dive International, Inc		168,908
6,014	e*	Callon Petroleum Co		164,543
3,157	*	Cheniere Energy, Inc		13,796
13,960	*	Complete Production Services, Inc		508,423
716	*	Dawson Geophysical Co		42,573
19,158	*	Energy XXI Bermuda Ltd		132,573
1,475	*	EXCO Resources, Inc		54,442
630	*	Geokinetics, Inc		11,409
5,429	e*	Geomet, Inc		51,467
2,644	*	GMX Resources, Inc		195,920
40,581	e*	Grey Wolf, Inc		366,446
5,210	*	Gulfport Energy Corp		85,809
10,200	e*	Harvest Natural Resources, Inc		112,812
3,188	e	Kayne Anderson Energy Development Co		73,165
24,552	*	Meridian Resource Corp		72,428
26,136	e*	Newpark Resources, Inc		205,429
41,835	e*	Oilsands Quest, Inc		271,928
26,970	e*	Parker Drilling Co		269,970
800	m,v*	Petrocorp, Inc		(0)
6,423	*	Petroquest Energy, Inc		172,779
12,988	e*	Pioneer Drilling Co		244,304
5,296	*	RAM Energy Resources, Inc		33,365
8,301	*	Stone Energy Corp		547,119
1,574	*	Superior Well Services, Inc		49,912
8,877	e*	Swift Energy Co		586,415
4,568	e*	Toreador Resources Corp		38,965
3,700	e*	Trico Marine Services, Inc		134,754
10,274	*	TXCO Resources, Inc		120,822
2,902	e*	Union Drilling, Inc		62,915
12,411	e*	Vaalco Energy, Inc		105,121
		TOTAL OIL AND GAS EXTRACTION		5,927,510
PAPER AND ALLIED PRODUCTS - 0.64%
14,898	e	AbitibiBowater, Inc		138,998
10,992	e*	Buckeye Technologies, Inc		92,992
13,454	e	Glatfelter		181,764
5,087	*	Kapstone Paper and Packaging Corp		33,930
8,953	e*	Mercer International, Inc		66,968
4,218	e	Neenah Paper, Inc		70,483
7,103		Rock-Tenn Co (Class A)		213,019
4,790		Schweitzer-Mauduit International, Inc		80,712
4,070	*	Verso Paper Corp		34,432
13,145	e	Wausau Paper Corp		101,348
		TOTAL PAPER AND ALLIED PRODUCTS		1,014,646
PERSONAL SERVICES - 0.59%
2,171		Angelica Corp		46,177
5,982	e	G & K Services, Inc (Class A)		182,212
8,331	e	Jackson Hewitt Tax Service, Inc		101,805
12,839		Regis Corp		338,308

265

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
1,716	*	Sally Beauty Holdings, Inc	$	11,085
1,912	*	Steiner Leisure Ltd		54,205
4,305		Unifirst Corp		192,261
		TOTAL PERSONAL SERVICES		926,053
PETROLEUM AND COAL PRODUCTS - 0.27%
3,172		Alon USA Energy, Inc		37,937
8,152	*	American Oil & Gas, Inc		31,956
3,874		Delek US Holdings, Inc		35,680
10,920	e*	Headwaters, Inc		128,528
357		Quaker Chemical Corp		9,518
2,707	e	WD-40 Co		79,180
8,753		Western Refining, Inc		103,636
		TOTAL PETROLEUM AND COAL PRODUCTS		426,435
PRIMARY METAL INDUSTRIES - 1.67%
8,864		Belden CDT, Inc		300,312
5,950	*	Brush Engineered Materials, Inc		145,299
5,515	e	Encore Wire Corp		116,863
3,517	e*	Esmark, Inc		67,245
7,670	e	Gibraltar Industries, Inc		122,490
2,602	*	Haynes International, Inc		149,745
10,173	e*	Horsehead Holding Corp		123,704
3,187	*	LB Foster Co (Class A)		105,808
321		Matthews International Corp (Class A)		14,528
10,329	e	Mueller Industries, Inc		332,594
2,588	e*	Northwest Pipe Co		144,410
700	e	Olympic Steel, Inc		53,144
6,711	*	RTI International Metals, Inc		239,046
4,932	*	Superior Essex, Inc		220,115
7,364	e	Tredegar Corp		108,251
1,763	*	Universal Stainless & Alloy		65,302
15,678	e	Worthington Industries, Inc		321,399
		TOTAL PRIMARY METAL INDUSTRIES		2,630,255
PRINTING AND PUBLISHING - 1.19%
15,769	e*	ACCO Brands Corp		177,086
4,775	e	AH Belo Corp (Class A)		27,218
14,321	e	American Greetings Corp (Class A)		176,721
25,720		Belo (A.H.) Corp (Class A)		188,013
7,563	e	Bowne & Co, Inc		96,428
1,207	e*	Consolidated Graphics, Inc		59,469
2,936	e	Courier Corp		58,955
2,302		CSS Industries, Inc		55,754
7,300		Ennis, Inc		114,245
8,097	e	GateHouse Media, Inc		19,919
9,000		Harte-Hanks, Inc		103,050
11,603	e	Journal Communications, Inc (Class A)		55,926
13,173	e	Lee Enterprises, Inc		52,560
16,666		McClatchy Co (Class A)		112,995
6,787		Media General, Inc (Class A)		81,105
270		Multi-Color Corp		5,667
3,634	e*	Playboy Enterprises, Inc (Class B)		17,952
8,432	e	Primedia, Inc		39,293

266

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
20,186	*	R.H. Donnelley Corp	$	60,558
3,896		Schawk, Inc		46,713
7,268	e	Scholastic Corp		208,301
3,599	e	Standard Register Co		33,939
7,086	e*	Valassis Communications, Inc		88,717
		TOTAL PRINTING AND PUBLISHING		1,880,584
RAILROAD TRANSPORTATION - 0.06%
2,651	*	Genesee & Wyoming, Inc (Class A)		90,187
		TOTAL RAILROAD TRANSPORTATION		90,187
REAL ESTATE - 0.32%
490		Consolidated-Tomoka Land Co		20,609
1,733		DuPont Fabros Technology, Inc		32,303
9,601	*	Forestar Real Estate Group, Inc		182,899
128	e*	FX Real Estate and Entertainment, Inc		243
25,016	e	Stewart Enterprises, Inc (Class A)		180,115
1,814	e*	Stratus Properties, Inc		31,545
5,620		Thomas Properties Group, Inc		55,301
		TOTAL REAL ESTATE		503,015
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.39%
17,752	e	Cooper Tire & Rubber Co		139,176
8,042		Schulman (A.), Inc		185,207
8,882	*	Skechers U.S.A., Inc (Class A)		175,508
9,266		Spartech Corp		87,378
2,876	e*	Trex Co, Inc		33,735
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		621,004
SECURITY AND COMMODITY BROKERS - 1.08%
5,862	*	Broadpoint Securities Group, Inc		11,724
5,686		Calamos Asset Management, Inc (Class A)		96,833
1,806		Cohen & Steers, Inc		46,902
2,915	e	Evercore Partners, Inc (Class A)		27,693
8,175	e*	FBR Capital Markets Corp		41,120
1,470	e	GAMCO Investors, Inc (Class A)		72,941
7,531	e*	KBW, Inc		154,988
23,982	*	Knight Capital Group, Inc (Class A)		431,196
15,172	e*	LaBranche & Co, Inc		107,418
9,086	*	MarketAxess Holdings, Inc		68,690
4,921	e*	Penson Worldwide, Inc		58,806
5,590	e*	Piper Jaffray Cos		163,955
5,488	e	Sanders Morris Harris Group, Inc		37,209
6,464	*	Stifel Financial Corp		222,297
7,077		SWS Group, Inc		117,549
6,213	e*	Thomas Weisel Partners Group, Inc		33,985
543		US Global Investors, Inc (Class A)		9,095
165		Westwood Holdings Group, Inc		6,567
		TOTAL SECURITY AND COMMODITY BROKERS		1,708,968
SOCIAL SERVICES - 0.12%
5,996	e*	Capital Senior Living Corp		45,210
852	e*	Providence Service Corp		17,986

267

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
7,070	*	Res-Care, Inc	$	125,705
		TOTAL SOCIAL SERVICES		188,901
SPECIAL TRADE CONTRACTORS - 0.70%
203		Alico, Inc		7,036
1,717	e	Chemed Corp		62,859
11,565		Comfort Systems USA, Inc		155,434
11,738	e*	Dycom Industries, Inc		170,436
12,344	*	EMCOR Group, Inc		352,174
8,284	e*	Insituform Technologies, Inc (Class A)		126,165
2,048	e*	Integrated Electrical Services, Inc		35,226
4,320	*	Layne Christensen Co		189,173
		TOTAL SPECIAL TRADE CONTRACTORS		1,098,503
STONE, CLAY, AND GLASS PRODUCTS - 0.08%
4,126		Apogee Enterprises, Inc		66,676
1,096	e	Libbey, Inc		8,154
11,652	e*	US Concrete, Inc		55,464
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		130,294
TEXTILE MILL PRODUCTS - 0.05%
4,014	e	Oxford Industries, Inc		76,868
		TOTAL TEXTILE MILL PRODUCTS		76,868
TOBACCO PRODUCTS - 0.23%
7,982	e	Universal Corp		360,946
		TOTAL TOBACCO PRODUCTS		360,946
TRANSPORTATION BY AIR - 0.91%
16,501	*	Airtran Holdings, Inc		33,662
10,922	e*	Alaska Air Group, Inc		167,543
549	*	Allegiant Travel Co		10,206
3,942	*	Atlas Air Worldwide Holdings, Inc		194,971
5,922	e*	Bristow Group, Inc		293,080
1,394	*	Hawaiian Holdings, Inc		9,688
50,442	e*	JetBlue Airways Corp		188,149
1,458	e*	PHI, Inc		58,568
10,101	*	Republic Airways Holdings, Inc		87,475
17,337	e	Skywest, Inc		219,313
19,431		UAL Corp		101,430
26,980	*	US Airways Group, Inc		67,450
		TOTAL TRANSPORTATION BY AIR		1,431,535
TRANSPORTATION EQUIPMENT - 1.99%
6,003	e	A.O. Smith Corp		197,078
8,691	e*	AAR Corp		117,589
10,384	e*	Accuride Corp		44,132
13,290	e	American Axle & Manufacturing Holdings, Inc		106,187
586		American Railcar Industries, Inc		9,833
21,494	e	ArvinMeritor, Inc		268,245
6,285	*	ATC Technology Corp		146,315
25,532		Brunswick Corp		270,639
5,751	e	Clarcor, Inc		201,860
28,786	*	Dana Holding Corp		154,005
3,189	*	Dorman Products, Inc		25,703

268

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
2,994		Ducommun, Inc	$	68,742
14,392	e	Federal Signal Corp		172,704
8,363	*	Force Protection, Inc		27,682
3,247	e	Freightcar America, Inc		115,269
467	*	GenTek, Inc		12,558
4,632	e	Greenbrier Cos, Inc		94,030
6,583	e	Group 1 Automotive, Inc		130,804
26,154	*	Hayes Lemmerz International, Inc		74,277
6,877	e	Kaman Corp		156,521
938	*	LMI Aerospace, Inc		16,481
1,241	e	Polaris Industries, Inc		50,112
8,753		Spartan Motors, Inc		65,385
6,501	e	Superior Industries International, Inc		109,737
13,546	e*	Tenneco, Inc		183,277
2,215	e	Triumph Group, Inc		104,327
28,224	e*	Visteon Corp		74,229
8,665	e	Wabash National Corp		65,507
1,675		Westinghouse Air Brake Technologies Corp		81,439
		TOTAL TRANSPORTATION EQUIPMENT		3,144,667
TRANSPORTATION SERVICES - 0.39%
1,272	*	Dynamex, Inc		34,102
3,662	*	HUB Group, Inc (Class A)		124,984
18,683	*	Lear Corp		264,925
9,954	e*	Orbitz Worldwide, Inc		49,870
6,452	e	Pacer International, Inc		138,783
		TOTAL TRANSPORTATION SERVICES		612,664
TRUCKING AND WAREHOUSING - 0.72%
6,680	e	Arkansas Best Corp		244,755
6,306	*	Celadon Group, Inc		62,997
6,508	e	Heartland Express, Inc		97,034
4,322	*	Marten Transport Ltd		69,022
2,264	*	Old Dominion Freight Line		67,965
460	*	Patriot Transportation Holding, Inc		36,800
3,925	*	Saia, Inc		42,861
1,267	e*	Universal Truckload Services, Inc		27,899
12,685	e	Werner Enterprises, Inc		235,687
16,729	*	YRC Worldwide, Inc		248,760
		TOTAL TRUCKING AND WAREHOUSING		1,133,780
WATER TRANSPORTATION - 0.63%
5,796		Double Hull Tankers Inc DHT Maritime Inc		58,134
1,965	e	Golar LNG Ltd		30,438
1,556	e*	Gulfmark Offshore, Inc		90,528
6,788	e*	Hornbeck Offshore Services, Inc		383,590
1,695	*	International Shipholding Corp		39,731
7,448	e	Nordic American Tanker Shipping		289,131
2,723	*	Odyssey Marine Exploration, Inc		10,783
7,328	e*	Ultrapetrol Bahamas Ltd		92,406
		TOTAL WATER TRANSPORTATION		994,741
WHOLESALE TRADE-DURABLE GOODS - 0.92%
6,619	e	Agilysys, Inc		75,059

269

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
SHARES		COMPANY		VALUE
8,835	e	Applied Industrial Technologies, Inc	$	213,542
6,884	e*	Beacon Roofing Supply, Inc		73,039
4,775		Castle (A.M.) & Co		136,613
6,917	*	Digi International, Inc		54,298
5,213	*	Drew Industries, Inc		83,147
23,468	e	IKON Office Solutions, Inc		264,719
14,305	*	Insight Enterprises, Inc		167,798
9,418	e*	Interline Brands, Inc		150,029
1,111	e	Lawson Products, Inc		27,531
1,161	e	Owens & Minor, Inc		53,046
12,351	e	PEP Boys-Manny Moe & Jack		107,701
2,568		Pool Corp		45,608
320	e*	TomoTherapy, Inc		2,858
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,454,988
WHOLESALE TRADE-NONDURABLE GOODS - 1.59%
6,539		Aceto Corp		49,958
7,850	*	Alliance One International, Inc		40,114
5,180	e	Andersons, Inc		210,878
2,589	e*	Core-Mark Holding Co, Inc		67,832
12,062	e*	Fresh Del Monte Produce, Inc		284,301
10,800	e*	Hain Celestial Group, Inc		253,584
43,132		Idearc, Inc		101,360
2,836	e	Kenneth Cole Productions, Inc (Class A)		36,017
7,552	e	K-Swiss, Inc (Class A)		111,014
1,664	*	LSB Industries, Inc		32,947
1,347	*	Maui Land & Pineapple Co, Inc		39,669
13,396		Men's Wearhouse, Inc		218,221
3,339		Myers Industries, Inc		27,213
3,644	e	Nash Finch Co		124,880
5,236		Nu Skin Enterprises, Inc (Class A)		78,121
1,772	e*	Perry Ellis International, Inc		37,602
2,331		Schiff Nutrition International, Inc		13,054
5,689	e*	School Specialty, Inc		169,134
5,560	e	Spartan Stores, Inc		127,880
2,346	*	Tractor Supply Co		68,128
8,622	*	United Natural Foods, Inc		167,957
6,754	e*	United Stationers, Inc		249,543
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,509,407
		TOTAL COMMON STOCKS		155,257,222
		(Cost $184,740,142)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 31.12%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.01%
$           1,590,000		Federal Home Loan Bank (FHLB), 07/01/08		1,590,000
				1,590,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 30.11%
47,487,328		State Street Navigator Securities Lending Prime Portfolio		47,487,328
				47,487,328
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $49,077,328)		49,077,328

270

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Small-Cap Value Index Fund
				VALUE
		TOTAL PORTFOLIO - 129.57%
		(Cost $233,817,470)	$	204,334,550
		OTHER ASSETS & LIABILITIES, NET - (29.57)%		(46,629,078	)
		NET ASSETS - 100.00%	$	157,705,472
	*	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 $255,969.
	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 June 30, 2008, the unrealized deppreciation on investments was $29,482,920 consisting of
		gross unrealized appreciation of $7,331,175 and gross unrealized depreciation of $36,814,095.

	NUMBER OF	MARKET		EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE		DATE	DEPRECIATION
E-mini Russell 2000 Index	22	$	1,521,740	September 2008	$	(54,566)

271

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SMALL -CAP BLEND INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 98.17%
AGRICULTURAL PRODUCTION-CROPS - 0.07%
8,371	e*	Chiquita Brands International, Inc	$	126,988
646		Griffin Land & Nurseries, Inc		19,832
		TOTAL AGRICULTURAL PRODUCTION-CROPS		146,820
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.14%
2,510	e	Cal-Maine Foods, Inc		82,805
8,728	e	Pilgrim's Pride Corp		113,377
65		Seaboard Corp		100,815
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		296,997
AGRICULTURAL SERVICES - 0.03%
2,197	e*	Cadiz, Inc		35,416
2,004		Calavo Growers, Inc		24,549
		TOTAL AGRICULTURAL SERVICES		59,965
AMUSEMENT AND RECREATION SERVICES - 0.82%
10,586	*	Bally Technologies, Inc		357,807
1,851		Churchill Downs, Inc		64,544
2,800	e	Dover Downs Gaming & Entertainment, Inc		17,976
2,925		Dover Motorsports, Inc		14,888
6,109	e*	Leapfrog Enterprises, Inc		50,827
6,739	e*	Life Time Fitness, Inc		199,137
14,659	e*	Live Nation, Inc		155,092
9,466	e*	Marvel Entertainment, Inc		304,237
11,242	e*	Pinnacle Entertainment, Inc		117,929
12,941	e*	Six Flags, Inc		14,882
2,499	e	Speedway Motorsports, Inc		50,930
2,942	e*	Town Sports International Holdings, Inc		27,478
14,795	v*	Westwood One, Inc		17,902
8,488	*	WMS Industries, Inc		252,688
4,012	e	World Wrestling Entertainment, Inc		62,066
		TOTAL AMUSEMENT AND RECREATION SERVICES		1,708,383
APPAREL AND ACCESSORY STORES - 1.52%
12,944	*	Aeropostale, Inc		405,536
7,421	e	Bebe Stores, Inc		71,316
7,945		Brown Shoe Co, Inc		107,655
2,993	e	Buckle, Inc		136,870
1,845	*	Cache, Inc		19,742
10,946	*	Carter's, Inc		151,274
6,292	e*	Casual Male Retail Group, Inc		19,191
5,348		Cato Corp (Class A)		76,156
3,839	*	Charlotte Russe Holding, Inc		68,181
21,917	e*	Charming Shoppes, Inc		100,599
34,125	*	Chico's FAS, Inc		183,251
4,520	e*	Children's Place Retail Stores, Inc		163,172

272

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,439	e	Christopher & Banks Corp	$	43,785
2,762	e*	Citi Trends, Inc		62,587
12,374	e*	Collective Brands, Inc		143,910
8,401	e*	Dress Barn, Inc		112,405
3,229	e*	DSW, Inc (Class A)		38,038
7,799	e	Finish Line, Inc (Class A)		67,851
8,030	*	HOT Topic, Inc		43,442
8,196	e*	J Crew Group, Inc		270,550
4,907	e*	Jo-Ann Stores, Inc		113,008
3,519	e*	JOS A Bank Clothiers, Inc		94,133
4,503	*	New York & Co, Inc		41,112
13,720	*	Pacific Sunwear Of California, Inc		117,032
1,662	*	Shoe Carnival, Inc		19,595
7,419		Stage Stores, Inc		86,580
1,287		Syms Corp		17,503
4,720	e	Talbots, Inc		54,705
4,680	e*	Tween Brands, Inc		77,033
6,371	e*	Under Armour, Inc (Class A)		163,352
17,791	*	Wet Seal, Inc (Class A)		84,863
		TOTAL APPAREL AND ACCESSORY STORES		3,154,427
APPAREL AND OTHER TEXTILE PRODUCTS - 0.59%
2,543	e	Columbia Sportswear Co		93,455
2,368	e*	G-III Apparel Group Ltd		29,221
5,509	*	Gymboree Corp		220,746
3,481	e*	Lululemon Athletica, Inc		101,158
4,373	e*	Maidenform Brands, Inc		59,036
24,375	*	Quiksilver, Inc		239,363
3,301	e*	True Religion Apparel, Inc		87,972
8,806	*	Warnaco Group, Inc		388,080
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,219,031
AUTO REPAIR, SERVICES AND PARKING - 0.32%
1,816	e*	Amerco, Inc		86,587
4,014	e*	Dollar Thrifty Automotive Group, Inc		37,932
14,560	*	Exide Technologies		244,026
2,652	e*	Midas, Inc		35,802
3,069		Monro Muffler, Inc		47,539
1,826	*	Standard Parking Corp		33,233
7,381	*	Wright Express Corp		183,049
		TOTAL AUTO REPAIR, SERVICES AND PARKING		668,168
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.18%
1,948	*	America's Car-Mart, Inc		34,908
6,180	e	Asbury Automotive Group, Inc		79,413
8,120	*	CSK Auto Corp		85,098
2,928	e*	MarineMax, Inc		20,994
6,502	e*	Rush Enterprises, Inc (Class A)		78,089
5,507	e	Sonic Automotive, Inc (Class A)		70,985
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		369,487
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.04%
2,920	e*	Builders FirstSource, Inc		15,505
12,835	e*	Central Garden and Pet Co (Class A)		52,624

273

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,824	*	Lumber Liquidators, Inc	$	23,712
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		91,841
BUSINESS SERVICES - 10.54%
77,999	*	3Com Corp		165,358
3,509	e*	3D Systems Corp		33,336
8,784		Aaron Rents, Inc		196,147
8,457		ABM Industries, Inc		188,168
6,650	e*	ACI Worldwide, Inc		116,974
11,085	*	Actuate Corp		43,342
11,826		Acxiom Corp		135,881
4,166		Administaff, Inc		116,190
3,280	e*	Advent Software, Inc		118,342
9,028		Aircastle Ltd		75,925
7,039	*	American Reprographics Co		117,199
4,349		American Software, Inc (Class A)		24,528
6,552	*	AMN Healthcare Services, Inc		110,860
3,021	*	Ansoft Corp		109,964
5,214	e	Arbitron, Inc		247,665
1,290	e*	ArcSight, Inc		11,352
16,544	*	Ariba, Inc		243,362
24,908	*	Art Technology Group, Inc		79,706
2,804	e	Asset Acceptance Capital Corp		34,265
3,993	e*	athenahealth, Inc		122,825
8,414	*	Avocent Corp		156,500
2,462	e*	Bankrate, Inc		96,190
42,061	e,v*	BearingPoint, Inc		34,490
3,845	*	BGC Partners, Inc (Class A)		29,030
8,650		Blackbaud, Inc		185,110
5,982	*	Blackboard, Inc		228,692
6,190	e*	Blue Coat Systems, Inc		87,341
4,248	*	Bottomline Technologies, Inc		41,333
11,777	e*	BPZ Energy, Inc		346,244
9,714		Brady Corp (Class A)		335,424
5,828	*	CACI International, Inc (Class A)		266,748
1,424	*	CAI International, Inc		24,778
5,814	*	Callidus Software, Inc		29,070
2,755	*	Capella Education Co		164,336
5,856	e*	Cavium Networks, Inc		122,976
8,433	e*	CBIZ, Inc		67,042
6,135	*	Chordiant Software, Inc		30,675
10,387	*	Ciber, Inc		64,503
2,002	*	Clinical Data, Inc		28,569
9,487	*	CMGI, Inc		100,562
9,208	*	Cogent Communications Group, Inc		123,387
7,747	*	Cogent, Inc		88,083
8,105	e	Cognex Corp		186,820
8,274	*	Commvault Systems, Inc		137,679
4,616		Compass Diversified Trust		52,761
2,737	e*	Compellent Technologies, Inc		31,038
1,684		Computer Programs & Systems, Inc		29,184
3,105	*	COMSYS IT Partners, Inc		28,318
8,335	e*	Concur Technologies, Inc		276,972
3,931	e*	Constant Contact, Inc		74,099

274

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,777	e*	CoStar Group, Inc	$	167,888
6,601	*	CSG Systems International, Inc		72,743
13,351	*	Cybersource Corp		223,362
6,391	e*	Data Domain, Inc		149,102
8,243	e*	DealerTrack Holdings, Inc		116,309
2,442	e*	Deltek, Inc		18,510
9,968		Deluxe Corp		177,630
2,810	e*	Dice Holdings, Inc		23,211
3,913	*	Digimarc Corp		55,408
7,182	e*	Digital River, Inc		277,082
5,211	*	DivX, Inc		38,249
3,350	*	Double-Take Software, Inc		46,029
4,781	*	DynCorp International, Inc (Class A)		72,432
21,234	*	Earthlink, Inc		183,674
392	*	Ebix, Inc		30,466
5,442	e*	Echelon Corp		59,318
10,515	e*	Eclipsys Corp		193,055
4,174		Electro Rent Corp		52,342
11,830	*	Entrust, Inc		34,780
11,041	e*	Epicor Software Corp		76,293
6,845	*	EPIQ Systems, Inc		97,199
15,875	e*	Evergreen Energy, Inc		27,623
4,096	e*	ExlService Holdings, Inc		57,467
9,408		Fair Isaac Corp		195,404
7,379	e*	FalconStor Software, Inc		52,243
1,988	*	First Advantage Corp (Class A)		31,510
3,002	*	Forrester Research, Inc		92,702
3,909		FTD Group, Inc		52,107
11,973	*	Gartner, Inc		248,081
4,581	*	Gerber Scientific, Inc		52,132
4,892	e	Gevity HR, Inc		26,319
7,497	e*	Global Cash Access, Inc		51,429
3,050	e*	Global Sources Ltd		46,299
2,292	*	Global Traffic Network, Inc		20,490
1,803	e*	Guidance Software, Inc		17,219
3,020	e*	H&E Equipment Services, Inc		36,300
7,950	*	Hackett Group, Inc		45,633
8,321	e	Healthcare Services Group		126,562
4,727	e	Heartland Payment Systems, Inc		111,557
3,199	e	Heidrick & Struggles International, Inc		88,420
4,833	*	HMS Holdings Corp		103,765
4,050	e*	HSW International, Inc		11,745
4,427	*	Hudson Highland Group, Inc		46,351
9,660	*	Hypercom Corp		42,504
2,792	e*	i2 Technologies, Inc		34,705
1,549	*	ICT Group, Inc		12,702
3,941	*	iGate Corp		32,040
5,778		infoGROUP, Inc		25,365
17,125	*	Informatica Corp		257,560
6,661		Infospace, Inc		55,486
6,112	e*	Innerworkings, Inc		73,100
1,559		Integral Systems, Inc		60,333
7,078		Interactive Data Corp		177,870
2,686	e*	Interactive Intelligence, Inc		31,265

275

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,746	e*	Internap Network Services Corp	$	45,611
4,276	e*	Internet Brands, Inc		28,350
7,477	e*	Internet Capital Group, Inc		57,797
8,803	*	Interwoven, Inc		105,724
6,390	*	inVentiv Health, Inc		177,578
14,547		Jack Henry & Associates, Inc		314,797
4,974	*	JDA Software Group, Inc		90,029
5,079		Kelly Services, Inc (Class A)		98,177
4,598	*	Kenexa Corp		86,626
2,672	e*	Keynote Systems, Inc		34,415
5,896	*	Kforce, Inc		50,057
5,472	e*	Knot, Inc		53,516
8,984	*	Korn/Ferry International		141,318
24,408	*	Lawson Software, Inc		177,446
5,578	e*	Limelight Networks, Inc		21,308
2,826	e*	Liquidity Services, Inc		32,584
8,123	e*	Magma Design Automation, Inc		49,307
4,771	*	Manhattan Associates, Inc		113,216
3,973	*	Mantech International Corp (Class A)		191,181
5,085	e	Marchex, Inc (Class B)		62,647
17,564	*	Mentor Graphics Corp		277,511
1,735	*	MicroStrategy, Inc (Class A)		112,341
5,572	e*	Midway Games, Inc		12,258
2,918	*	Monotype Imaging Holdings, Inc		35,541
24,809	e*	Move, Inc		57,805
18,242	*	MPS Group, Inc		193,912
8,696	*	MSC.Software Corp		95,482
1,261	*	NCI, Inc (Class A)		28,852
7,598	*	Ness Technologies, Inc		76,892
7,766	e*	NetFlix, Inc		202,460
5,692	*	Netscout Systems, Inc		60,791
1,300	e*	NetSuite, Inc		26,611
7,498		NIC, Inc		51,211
12,066	e*	Omniture, Inc		224,066
6,391	*	On Assignment, Inc		51,256
5,224	*	Online Resources Corp		43,620
18,565	e*	OpenTV Corp (Class A)		24,320
2,556	*	Opnet Technologies, Inc		23,004
22,277	*	Parametric Technology Corp		371,358
4,032		PC-Tel, Inc		38,667
2,793		Pegasystems, Inc		37,594
4,304	*	PeopleSupport, Inc		36,584
6,193	e*	Perficient, Inc		59,824
16,728	*	Perot Systems Corp (Class A)		251,087
8,275	*	Phase Forward, Inc		148,702
5,332	*	Phoenix Technologies Ltd		58,652
2,940	e*	Portfolio Recovery Associates, Inc		110,250
11,967	*	Premiere Global Services, Inc		174,479
8,038	*	Progress Software Corp		205,532
2,484	*	PROS Holdings, Inc		27,895
1,692	e*	Protection One, Inc		14,213
3,019	e	QAD, Inc		20,439
3,390	e	Quality Systems, Inc		99,259
13,993	*	Quest Software, Inc		207,236

276

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,350	*	Radiant Systems, Inc	$	57,406
4,264	*	Radisys Corp		38,632
8,708	e*	Raser Technologies, Inc		84,816
17,460	*	RealNetworks, Inc		115,236
1,508	e	Renaissance Learning, Inc		16,905
12,912	*	Rent-A-Center, Inc		265,600
5,380	*	RightNow Technologies, Inc		73,545
4,154	*	Riskmetrics Group Inc		81,585
8,045		Rollins, Inc		119,227
9,201	e*	RSC Holdings, Inc		85,201
9,169	*	S1 Corp		69,409
16,985	*	Sapient Corp		109,044
10,246	*	Secure Computing Corp		42,418
2,569	*	SI International, Inc		53,795
5,897	e*	Smith Micro Software, Inc		33,613
10,550	*	SonicWALL, Inc		68,048
43,951	e*	Sonus Networks, Inc		150,312
13,035	e	Sotheby's		343,733
3,881	e*	Sourcefire, Inc		30,000
10,630	*	Spherion Corp		49,111
3,454	*	SPSS, Inc		125,622
8,231	*	SRA International, Inc (Class A)		184,868
3,988	e*	Stratasys, Inc		73,618
4,422	e*	SuccessFactors, Inc		48,421
8,953	*	SupportSoft, Inc		29,097
15,338	*	Sybase, Inc		451,244
6,384	*	SYKES Enterprises, Inc		120,402
4,252	e*	Synchronoss Technologies, Inc		38,396
3,363	e*	SYNNEX Corp		84,378
2,496	e	Syntel, Inc		84,165
14,874	*	Take-Two Interactive Software, Inc		380,328
3,167		TAL International Group, Inc		72,018
4,360	e*	Taleo Corp (Class A)		85,412
2,700	*	TechTarget, Inc		28,512
7,886	*	TeleTech Holdings, Inc		157,405
1,847	e	Textainer Group Holdings Ltd		36,072
3,922	e	TheStreet.com, Inc		25,532
12,897	e*	THQ, Inc		261,293
36,077	*	TIBCO Software, Inc		275,989
4,735	*	TNS, Inc		113,451
6,219	e*	TradeStation Group, Inc		63,123
8,340	*	Trizetto Group, Inc		178,309
8,358	*	TrueBlue, Inc		110,409
4,759	*	Ultimate Software Group, Inc		169,563
2,706	e*	Unica Corp		21,756
13,313		United Online, Inc		133,529
18,444	*	Valueclick, Inc		279,427
5,205	e*	Vasco Data Security International		54,809
3,889		Viad Corp		100,297
4,871	*	Vignette Corp		58,452
1,697	*	Virtusa Corp		17,191
3,111	*	Vocus, Inc		100,081
2,363	e*	Volt Information Sciences, Inc		28,143
8,735	*	Websense, Inc		147,097

277

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,344	*	Website Pros, Inc	$	44,516
13,926	*	Wind River Systems, Inc		151,654
		TOTAL BUSINESS SERVICES		21,882,316
CHEMICALS AND ALLIED PRODUCTS - 7.09%
5,522	e*	Acadia Pharmaceuticals, Inc		20,376
6,321	e*	Acorda Therapeutics, Inc		207,518
1,590	*	Acura Pharmaceuticals, Inc		12,641
8,905	*	Adolor Corp		48,799
4,339	*	Albany Molecular Research, Inc		57,579
7,435	d*	Alexion Pharmaceuticals, Inc		539,038
3,807	e*	Alexza Pharmaceuticals, Inc		15,000
18,631	*	Alkermes, Inc		230,279
10,248	e*	Allos Therapeutics, Inc		70,814
6,881	e*	Alnylam Pharmaceuticals, Inc		183,929
8,563	e*	Alpharma, Inc (Class A)		192,924
3,210	e*	AMAG Pharmaceuticals, Inc		109,461
11,951	*	American Oriental Bioengineering, Inc		117,956
3,647	e	American Vanguard Corp		44,858
714	e*	Amicus Therapeutics, Inc		7,626
15,468	*	Applera Corp		175,716
4,811		Arch Chemicals, Inc		159,485
2,087	*	Ardea Biosciences, Inc		26,755
14,281	e*	Arena Pharmaceuticals, Inc		74,118
7,262	e*	Arqule, Inc		23,602
8,360	e*	Array Biopharma, Inc		39,292
7,959	e*	Auxilium Pharmaceuticals, Inc		267,582
2,884	*	Avant Immunotherapeutics, Inc		41,991
5,347	e*	Aventine Renewable Energy Holdings, Inc		23,527
3,505		Balchem Corp		81,071
3,733	*	Bentley Pharmaceuticals, Inc		60,288
2,080	e*	Biodel, Inc		27,040
4,254	e*	BioForm Medical, Inc		17,186
2,574	e*	BioMimetic Therapeutics, Inc		30,682
4,238	e*	Cadence Pharmaceuticals, Inc		25,809
7,920	e*	Calgon Carbon Corp		122,443
5,126	*	Cambrex Corp		30,090
2,205	e*	Caraco Pharmaceutical Laboratories Ltd		29,106
16,646	e*	Cell Genesys, Inc		43,280
3,326	e*	Chattem, Inc		216,356
3,305	*	China Precision Steel, Inc		14,509
9,056	*	Columbia Laboratories, Inc		29,885
2,886	*	Cougar Biotechnology, Inc		68,773
10,914	e*	Cubist Pharmaceuticals, Inc		194,924
7,274	e*	Cypress Bioscience, Inc		52,300
6,459	*	Cytokinetics, Inc		23,963
3,846	*	Cytori Therapeutics, Inc		24,922
18,013	e*	Dendreon Corp		80,158
19,897	e*	Discovery Laboratories, Inc		32,830
14,318	e*	Durect Corp		52,547
4,727	*	Elizabeth Arden, Inc		71,756
2,613	e*	Emergent Biosolutions, Inc		25,947
8,660	e*	Enzon Pharmaceuticals, Inc		61,659
8,457		Ferro Corp		158,653

278

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
15,062	e*	Geron Corp	$	51,964
3,341	e*	GTx, Inc		47,943
10,260		H.B. Fuller Co		230,234
11,473	e*	Halozyme Therapeutics, Inc		61,725
21,885		Hercules, Inc		370,513
26,192	e*	Human Genome Sciences, Inc		136,460
5,346	*	ICO, Inc		32,183
4,641	e*	Idenix Pharmaceuticals, Inc		33,740
3,976	*	Idera Pharmaceuticals, Inc		58,089
13,551	*	Immucor, Inc		350,700
8,330	*	Immunogen, Inc		25,490
15,039	e*	Indevus Pharmaceuticals, Inc		23,611
2,600		Innophos Holdings, Inc		83,070
4,414		Innospec, Inc		83,071
8,150	*	Inspire Pharmaceuticals, Inc		34,882
2,472	e	Inter Parfums, Inc		37,080
6,112	e*	InterMune, Inc		80,189
8,079	e*	Javelin Pharmaceuticals, Inc		18,743
990	e*	Jazz Pharmaceuticals, Inc		7,336
3,049		Kaiser Aluminum Corp		163,213
4,029		Koppers Holdings, Inc		168,694
6,609	e*	KV Pharmaceutical Co (Class A)		127,752
4,479	*	Landec Corp		28,979
15,475	e*	Ligand Pharmaceuticals, Inc (Class B)		40,235
2,535	e	Mannatech, Inc		13,790
9,324	e*	MannKind Corp		27,972
1,505	*	MAP Pharmaceuticals, Inc		15,547
3,785	*	Marshall Edwards, Inc		9,727
6,360	*	Martek Biosciences Corp		214,396
24,689	*	Medarex, Inc		163,194
10,067	*	Medicines Co		199,528
10,925	e	Medicis Pharmaceutical Corp (Class A)		227,022
4,931	e*	Medivation, Inc		58,334
7,767		Meridian Bioscience, Inc		209,088
6,912	*	MiddleBrook Pharmaceuticals, Inc		23,363
3,655		Minerals Technologies, Inc		232,421
3,420	e*	Molecular Insight Pharmaceuticals, Inc		18,844
4,508	*	Momenta Pharmaceuticals, Inc		55,448
10,196	e*	Nabi Biopharmaceuticals		40,172
2,505	e*	Nanosphere, Inc		19,689
8,013	e*	Neurocrine Biosciences, Inc		33,574
2,643	e	NewMarket Corp		175,046
1,246	e	NL Industries, Inc		11,874
10,132	*	Novavax, Inc		25,229
4,412	e*	Noven Pharmaceuticals, Inc		47,164
9,113	*	NPS Pharmaceuticals, Inc		40,553
3,432	e*	Obagi Medical Products, Inc		29,344
14,461		Olin Corp		378,589
5,908	*	OM Group, Inc		193,723
2,762	e*	Omrix Biopharmaceuticals, Inc		43,474
10,754	e*	Onyx Pharmaceuticals, Inc		382,842
9,331	*	Opko Health, Inc		14,183
4,684	*	Optimer Pharmaceuticals, Inc		37,987
8,126	*	OraSure Technologies, Inc		30,391

279

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,864	e*	Orexigen Therapeutics, Inc	$	30,487
11,067	e*	OSI Pharmaceuticals, Inc		457,288
2,594	e*	Osiris Therapeutics, Inc		33,333
8,526	e*	Pacific Ethanol, Inc		15,432
6,415	e*	Pain Therapeutics, Inc		50,679
6,684	e*	Par Pharmaceutical Cos, Inc		108,481
10,959	*	Parexel International Corp		288,331
23,082		PDL BioPharma, Inc		245,131
4,598	e*	PetMed Express, Inc		56,326
3,029	*	Pharmasset, Inc		57,188
5,882	*	PharMerica Corp		132,874
18,042	*	PolyOne Corp		125,753
5,046	e*	Pozen, Inc		54,900
6,523	*	Prestige Brands Holdings, Inc		69,535
5,149	e*	Progenics Pharmaceuticals, Inc		81,715
2,109	e*	Protalix BioTherapeutics, Inc		5,715
10,468	*	Questcor Pharmaceuticals, Inc		48,572
5,456	*	Quidel Corp		90,133
5,620	*	Rexahn Pharmaceuticals, Inc		18,209
8,064	e*	Rockwood Holdings, Inc		280,627
9,250	e*	Salix Pharmaceuticals Ltd		65,028
6,710	e	Sciele Pharma, Inc		129,839
9,302		Sensient Technologies Corp		261,944
11,754	*	Solutia, Inc		150,686
1,227		Stepan Co		55,976
1,763	e*	Sucampo Pharmaceuticals, Inc		18,917
2,983	e*	SurModics, Inc		133,758
3,225	e*	Synta Pharmaceuticals Corp		19,673
3,510	*	Targacept, Inc		25,518
6,035	*	Tercica, Inc		53,289
10,016	*	Theravance, Inc		118,890
8,522	*	Third Wave Technologies, Inc		95,106
3,927	e*	Ulta Salon Cosmetics & Fragrance, Inc		44,139
8,763	*	Unifi, Inc		22,083
4,353	*	United Therapeutics Corp		425,506
1,522	e*	USANA Health Sciences, Inc		40,896
21,499	e*	USEC, Inc		130,714
14,355	e*	Valeant Pharmaceuticals International		245,614
19,868	e*	Verasun Energy Corp		82,055
13,529	e*	Viropharma, Inc		149,631
3,705		Westlake Chemical Corp		55,056
13,954	*	WR Grace & Co		327,779
4,863	*	Xenoport, Inc		189,803
24,062	e*	XOMA Ltd		40,665
6,906	e*	Zymogenetics, Inc		58,149
		TOTAL CHEMICALS AND ALLIED PRODUCTS		14,726,870
COAL MINING - 0.33%
24,601	e*	International Coal Group, Inc		321,043
4,901	*	James River Coal Co		287,640
4,958	*	National Coal Corp		43,977
1,838	*	Westmoreland Coal Co		38,800
		TOTAL COAL MINING		691,460

280

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
COMMUNICATIONS - 2.18%
8,259	e	Alaska Communications Systems Group, Inc	$	98,612
5,780	e*	Anixter International, Inc		343,852
10,104	e*	Aruba Networks, Inc		52,844
1,832		Atlantic Tele-Network, Inc		50,398
3,540	e*	Audiovox Corp (Class A)		34,763
9,291	*	Brightpoint, Inc		67,824
4,631	e*	Cbeyond Communications, Inc		74,189
13,043	*	Centennial Communications Corp		91,171
79,001	e*	Charter Communications, Inc (Class A)		82,951
46,080	*	Cincinnati Bell, Inc		183,398
36,370	e*	Citadel Broadcasting Corp		44,371
4,478	e	Consolidated Communications Holdings, Inc		66,677
5,647	e*	Cox Radio, Inc (Class A)		66,635
3,482	e*	Crown Media Holdings, Inc (Class A)		16,505
5,014	e*	Cumulus Media, Inc (Class A)		19,755
2,799	*	DG FastChannel, Inc		48,283
5,821	e	Entercom Communications Corp (Class A)		40,863
11,478	*	Entravision Communications Corp (Class A)		46,142
17,225	e	Fairpoint Communications, Inc		124,192
20,767	e*	FiberTower Corp		29,074
1,292	e	Fisher Communications, Inc		44,496
28,233	*	Foundry Networks, Inc		333,714
9,532	e*	General Communication, Inc (Class A)		65,485
3,248	e*	GeoEye, Inc		57,522
5,527	e*	Global Crossing Ltd		99,154
8,100	e*	Globalstar, Inc		22,923
7,157	e	Gray Television, Inc		20,541
1,390	e*	Hughes Communications, Inc		68,235
927	e*	Hungarian Telephone & Cable		16,908
5,796		Ibasis, Inc		19,011
20,015	e*	ICO Global Communications Holdings Ltd		65,249
8,078	e	IDT Corp (Class B)		13,733
6,195	e	Iowa Telecommunications Services, Inc		109,094
3,317	*	iPCS, Inc		98,283
8,594	*	j2 Global Communications, Inc		197,662
5,484	e*	Knology, Inc		60,269
4,800	e*	Lin TV Corp (Class A)		28,608
8,317	e*	Mastec, Inc		88,659
8,833	e*	Mediacom Communications Corp (Class A)		47,168
3,221	*	Neutral Tandem, Inc		56,368
9,395	e*	Nextwave Wireless, Inc		37,956
5,787	e*	Novatel Wireless, Inc		64,409
5,787		NTELOS Holdings Corp		146,816
6,100	e*	Orbcomm, Inc		34,770
23,920	e*	PAETEC Holding Corp		151,892
473	e	Preformed Line Products Co		19,067
7,284	e*	RCN Corp		78,522
2,609	e*	Rural Cellular Corp (Class A)		116,127
7,273	e*	SAVVIS, Inc		93,894
4,551		Shenandoah Telecom Co		59,254
10,142	e	Sinclair Broadcast Group, Inc (Class A)		77,079
3,966	e*	Switch & Data Facilities Co, Inc		67,382
9,932	*	Syniverse Holdings, Inc		160,898

281

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,504	*	TeleCommunication Systems, Inc	$	30,114
10,077	e*	Terremark Worldwide, Inc		55,020
11,259	*	TerreStar Corp		44,811
19,704	e*	TiVo, Inc		121,574
5,118		USA Mobility, Inc		38,641
4,890	e*	Virgin Mobile USA, Inc		13,448
13,802	e*	Vonage Holdings Corp		22,911
		TOTAL COMMUNICATIONS		4,530,166
DEPOSITORY INSTITUTIONS - 6.22%
2,686		1st Source Corp		43,245
4,726	e	Abington Bancorp, Inc		43,101
3,979	e	Amcore Financial, Inc		22,521
2,417	e	Ameris Bancorp		21,028
1,243		Ames National Corp		20,795
3,495	e	Anchor Bancorp Wisconsin, Inc		24,500
1,771		Arrow Financial Corp		32,108
1,419		Bancfirst Corp		60,733
5,273		Banco Latinoamericano de Exportaciones S.A.		85,370
3,389		BancTrust Financial Group, Inc		22,334
9,156	e	Bank Mutual Corp		91,926
2,394	e	Bank of the Ozarks, Inc		35,575
4,040	e	BankFinancial Corp		52,560
2,927	e	Banner Corp		25,933
6,560	e*	Beneficial Mutual Bancorp, Inc		72,619
1,920	e	Berkshire Hills Bancorp, Inc		45,408
7,441	e	Boston Private Financial Holdings, Inc		42,190
10,993		Brookline Bancorp, Inc		104,983
652		Brooklyn Federal Bancorp, Inc		7,857
1,334		Bryn Mawr Bank Corp		23,345
1,489		Camden National Corp		34,664
2,188	e	Capital City Bank Group, Inc		47,611
2,527	e	Capitol Bancorp Ltd		22,667
4,667		Cardinal Financial Corp		29,215
4,038	e	Cascade Bancorp		31,093
1,231	e	Cass Information Systems, Inc		39,429
9,488	e	Cathay General Bancorp		103,135
1,780		Centerstate Banks of Florida, Inc		19,633
5,472	e	Central Pacific Financial Corp		58,332
4,409	e	Chemical Financial Corp		89,944
1,730		Citizens & Northern Corp		28,649
13,990	e	Citizens Banking Corp		39,452
2,504	e	City Bank		21,534
3,121		City Holding Co		127,243
2,707	e	Clifton Savings Bancorp, Inc		26,366
3,191	e	CoBiz, Inc		20,997
39,076		Colonial Bancgroup, Inc		172,716
3,505		Columbia Banking System, Inc		67,752
5,684	e	Community Bank System, Inc		117,204
2,806	e	Community Trust Bancorp, Inc		73,686
7,510	e	Corus Bankshares, Inc		31,242
12,789	e	CVB Financial Corp		120,728
4,406		Dime Community Bancshares		72,743
4,686	e*	Dollar Financial Corp		70,805

282

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,794	e	Downey Financial Corp	$	10,509
12,278		East West Bancorp, Inc		86,683
1,251	*	Encore Bancshares, Inc		19,578
2,142	e	Enterprise Financial Services Corp		40,377
3,282		ESSA Bancorp, Inc		41,091
9,121	e*	Euronet Worldwide, Inc		154,145
1,203		Farmers Capital Bank Corp		21,197
213	e	Fifth Third Bancorp		2,173
2,117		Financial Institutions, Inc		33,999
2,773	e	First Bancorp		35,051
17,294	e	First Bancorp		109,644
1,681		First Bancorp, Inc		22,946
4,719	e	First Busey Corp		62,385
13,875	e	First Commonwealth Financial Corp		129,454
1,782	e	First Community Bancshares, Inc		50,252
7,259		First Financial Bancorp		66,783
4,021	e	First Financial Bankshares, Inc		184,202
2,305	e	First Financial Corp		70,556
2,037	e	First Financial Holdings, Inc		34,996
4,421		First Financial Northwest, Inc		43,901
3,379		First Merchants Corp		61,329
9,183	e	First Midwest Bancorp, Inc		171,263
21,226	e	First Niagara Financial Group, Inc		272,966
3,145	e	First Place Financial Corp		29,563
1,625	e	First South Bancorp, Inc		20,930
2,426	e*	FirstFed Financial Corp		19,505
15,643		FirstMerit Corp		255,137
7,943	e	Flagstar Bancorp, Inc		23,908
4,139		Flushing Financial Corp		78,434
16,646	e	FNB Corp		196,090
1,190	*	Fox Chase Bancorp, Inc		12,209
9,086	e	Frontier Financial Corp		77,413
10,441	e	Glacier Bancorp, Inc		166,952
2,514	e	Greene County Bancshares, Inc		35,246
10,214	e*	Guaranty Bancorp		36,770
4,980	e	Hancock Holding Co		195,664
7,259	e	Hanmi Financial Corp		37,819
6,063	e	Harleysville National Corp		67,663
2,536	e	Heartland Financial USA, Inc		46,130
2,258	e	Heritage Commerce Corp		22,354
2,372	e	Home Bancshares, Inc		53,323
1,276		Home Federal Bancorp, Inc		12,581
2,490	e	IBERIABANK Corp		110,730
3,144		Independent Bank Corp		74,953
19,492	v*	IndyMac Bancorp, Inc		10,916
3,535	e	Integra Bank Corp		27,679
9,869		International Bancshares Corp		210,901
9,530	*	Investors Bancorp, Inc		124,462
3,801	e	Kearny Financial Corp		41,811
3,684	e	Lakeland Bancorp, Inc		44,871
2,165	e	Lakeland Financial Corp		41,308
3,318	e	MainSource Financial Group, Inc		51,429
733		MASSBANK Corp		29,012
6,720	e	MB Financial, Inc		150,998

283

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,029	*	Meridian Interstate Bancorp, Inc	$	19,722
4,167	e	Midwest Banc Holdings, Inc		20,293
4,388	e	Nara Bancorp, Inc		47,083
636	e	NASB Financial, Inc		11,308
15,375	e	National Penn Bancshares, Inc		204,180
6,207	e	NBT Bancorp, Inc		127,926
8,698	*	Net 1 UEPS Technologies, Inc		211,361
20,968	e	NewAlliance Bancshares, Inc		261,681
3,600	*	Northfield Bancorp, Inc		38,700
3,294	e	Northwest Bancorp, Inc		71,875
1,708		OceanFirst Financial Corp		30,829
12,806	e	Old National Bancorp		182,614
2,664	e	Old Second Bancorp, Inc		30,956
4,706		Oriental Financial Group, Inc		67,108
2,510	e*	Oritani Financial Corp		40,160
8,748	e	Pacific Capital Bancorp		120,547
2,066		Pacific Continental Corp		22,705
4,594		PacWest Bancorp		68,359
2,186	e	Park National Corp		117,825
1,607		Peapack Gladstone Financial Corp		35,306
1,006	*	Pennsylvania Commerce Bancorp, Inc		24,194
1,971		Peoples Bancorp, Inc		37,410
4,368	e*	Pinnacle Financial Partners, Inc		87,753
3,752		Premierwest Bancorp		21,912
3,636	e	PrivateBancorp, Inc		110,462
7,583	e	Prosperity Bancshares, Inc		202,694
5,733	e	Provident Bankshares Corp		36,577
11,540		Provident Financial Services, Inc		161,675
7,541	e	Provident New York Bancorp		83,403
3,854	e	Renasant Corp		56,769
1,736		Republic Bancorp, Inc (Class A)		42,706
1,839	e	Rockville Financial, Inc		23,098
1,805	e	Roma Financial Corp		23,646
4,706	e	S&T Bancorp, Inc		136,756
2,590	e	S.Y. Bancorp, Inc		55,322
3,019	e	Sandy Spring Bancorp, Inc		50,055
541		Santander BanCorp		5,740
1,901		SCBT Financial Corp		54,293
3,144	e	Seacoast Banking Corp of Florida		24,397
1,628		Shore Bancshares, Inc		30,476
1,533	e	Sierra Bancorp		25,295
5,606	*	Signature Bank		144,411
2,702	e	Simmons First National Corp (Class A)		75,575
1,898		Smithtown Bancorp, Inc		30,843
13,757	e	South Financial Group, Inc		53,927
2,331		Southside Bancshares, Inc		42,984
2,535		Southwest Bancorp, Inc		29,153
2,776		State Bancorp, Inc		34,700
4,373		StellarOne Corp		63,846
3,471		Sterling Bancorp		41,478
14,153		Sterling Bancshares, Inc		128,651
9,103	e	Sterling Financial Corp		37,686
1,836	e	Suffolk Bancorp		53,942
2,663	e*	Sun Bancorp, Inc		27,038

284

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
16,639	e	Susquehanna Bancshares, Inc	$	227,788
5,964	e*	SVB Financial Group		286,928
4,615	e*	Texas Capital Bancshares, Inc		73,840
1,161	e	Tompkins Trustco, Inc		43,189
4,014		TowneBank		60,451
2,529	e	Trico Bancshares		27,693
14,640	e	Trustco Bank Corp NY		108,629
9,580	e	Trustmark Corp		169,087
21,401	e	UCBH Holdings, Inc		48,152
6,012		UMB Financial Corp		308,235
11,626	e	Umpqua Holdings Corp		141,023
2,441	e	Union Bankshares Corp		36,346
7,322	e	United Bankshares, Inc		168,040
7,428	e	United Community Banks, Inc		63,361
5,459	e	United Community Financial Corp		20,471
3,437		United Financial Bancorp, Inc		38,391
1,674	e	United Security Bancshares		24,340
2,288	e	Univest Corp of Pennsylvania		45,440
2,060		ViewPoint Financial Group		30,323
21,011	e	W Holding Co, Inc		16,809
2,082	e	Washington Trust Bancorp, Inc		41,015
1,389	e*	Wauwatosa Holdings, Inc		14,751
5,135		WesBanco, Inc		88,065
3,376		West Bancorporation, Inc		29,371
3,196		West Coast Bancorp		27,709
5,614	e	Westamerica Bancorporation		295,240
3,466	e*	Western Alliance Bancorp		26,896
6,134		Westfield Financial, Inc		55,513
3,616		Wilshire Bancorp, Inc		30,989
4,527	e	Wintrust Financial Corp		107,969
1,221		WSFS Financial Corp		54,457
2,210		Yadkin Valley Financial Corp		26,410
		TOTAL DEPOSITORY INSTITUTIONS		12,903,538
EATING AND DRINKING PLACES - 1.15%
4,634	e*	AFC Enterprises		37,026
3,401	e*	BJ's Restaurants, Inc		33,092
5,999	e	Bob Evans Farms, Inc		171,571
3,444	e*	Buffalo Wild Wings, Inc		85,515
4,709	*	California Pizza Kitchen, Inc		52,694
4,289		CBRL Group, Inc		105,123
4,224	*	CEC Entertainment, Inc		118,314
12,980	*	Cheesecake Factory		206,512
10,140		CKE Restaurants, Inc		126,446
17,463	*	Denny's Corp		49,595
3,274	e	DineEquity, Inc		122,317
7,331	e*	Domino's Pizza, Inc		84,307
859	*	Einstein Noah Restaurant Group, Inc		9,509
11,372	*	Jack in the Box, Inc		254,847
12,380	e*	Krispy Kreme Doughnuts, Inc		61,776
2,295	e	Landry's Restaurants, Inc		41,241
4,179	*	Luby's, Inc		25,492
4,080	e	O'Charleys, Inc		41,045
4,228	*	Papa John's International, Inc		112,423

285

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
4,565	e*	PF Chang's China Bistro, Inc	$	101,982
3,142	e*	Red Robin Gourmet Burgers, Inc		87,159
1,164	*	Rick's Cabaret International, Inc		19,555
10,403	e	Ruby Tuesday, Inc		56,176
3,394	e*	Ruth's Chris Steak House, Inc		17,581
11,592	e*	Sonic Corp		171,562
5,126	e*	Steak N Shake Co		32,448
10,141	e*	Texas Roadhouse, Inc (Class A)		90,965
12,071	e	Triarc Cos (Class B)		76,409
		TOTAL EATING AND DRINKING PLACES		2,392,682
EDUCATIONAL SERVICES - 0.20%
2,133	*	American Public Education, Inc		83,272
16,484	e*	Corinthian Colleges, Inc		191,379
1,150	*	K12, Inc		24,645
1,728	*	Learning Tree International, Inc		29,549
857	*	Lincoln Educational Services Corp		9,967
2,590	*	Princeton Review, Inc		17,508
4,123	e*	Universal Technical Institute, Inc		51,373
		TOTAL EDUCATIONAL SERVICES		407,693
ELECTRIC, GAS, AND SANITARY SERVICES - 4.23%
5,065	e	Allete, Inc		212,730
3,149		American Ecology Corp		92,990
3,337	e	American States Water Co		116,595
72,739	*	Aquila, Inc		274,226
10,261		Avista Corp		220,201
17,217	*	Beacon Power Corp		35,811
7,434		Black Hills Corp		238,334
3,688	e	California Water Service Group		120,856
4,597	*	Casella Waste Systems, Inc (Class A)		56,037
2,003		Central Vermont Public Service Corp		38,798
2,940	e	CH Energy Group, Inc		104,576
1,314		Chesapeake Utilities Corp		33,796
4,217	e*	Clean Energy Fuels Corp		48,453
3,669	*	Clean Harbors, Inc		260,719
11,646		Cleco Corp		271,701
1,623		Connecticut Water Service, Inc		36,355
2,641	e	Consolidated Water Co, Inc		52,292
7,782	e	Crosstex Energy, Inc		269,724
8,547	*	El Paso Electric Co		169,231
6,531		Empire District Electric Co		121,085
6,423		EnergySolutions, Inc		143,554
1,353	e	EnergySouth, Inc		66,378
1,867	e*	EnerNOC, Inc		33,513
8,755	e	Idacorp, Inc		252,932
9,417		ITC Holdings Corp		481,303
4,223	e	Laclede Group, Inc		170,483
4,272	e	MGE Energy, Inc		139,353
2,567		Middlesex Water Co		42,587
8,111	e	New Jersey Resources Corp		264,824
8,734	e	Nicor, Inc		371,981
5,110		Northwest Natural Gas Co		236,389
7,539		NorthWestern Corp		191,641

286

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,465	e	Ormat Technologies, Inc	$	170,409
5,814	e	Otter Tail Corp		225,758
3,128	e*	Pico Holdings, Inc		135,912
14,204		Piedmont Natural Gas Co, Inc		371,577
3,111	*	Pike Electric Corp		51,674
15,500	*	Plug Power, Inc		36,425
14,888	e	PNM Resources, Inc		178,060
12,100		Portland General Electric Co		272,492
2,341	e	Resource America, Inc (Class A)		21,818
2,744	e	SJW Corp		72,442
5,754	e	South Jersey Industries, Inc		214,969
8,372		Southwest Gas Corp		248,900
4,730	e	Southwest Water Co		47,395
68	b,m,v*	Touch America Holdings, Inc		0
4,741	e	UIL Holdings Corp		139,433
6,660		Unisource Energy Corp		206,527
12,850	*	Waste Connections, Inc		410,301
4,594	*	Waste Services, Inc		32,342
20,284		Westar Energy, Inc		436,309
9,570		WGL Holdings, Inc		332,462
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		8,774,653
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 7.94%
5,245	e*	Acme Packet, Inc		40,701
4,888	*	Actel Corp		82,363
7,857		Acuity Brands, Inc		377,765
23,389	*	Adaptec, Inc		74,845
10,873		Adtran, Inc		259,212
8,846	*	Advanced Analogic Technologies, Inc		36,534
8,039	*	Advanced Battery Technologies, Inc		46,385
6,364	*	Advanced Energy Industries, Inc		87,187
4,678	e*	Airvana, Inc		25,074
8,129	e*	American Superconductor Corp		291,425
21,088	e*	Amkor Technology, Inc		219,526
12,108	e*	Anadigics, Inc		119,264
12,525	e*	Applied Micro Circuits Corp		107,214
2,435		Applied Signal Technology, Inc		33,262
23,722	*	Arris Group, Inc		200,451
1,449	*	Ascent Solar Technologies, Inc		14,997
11,478	e*	Atheros Communications, Inc		344,340
6,208	*	ATMI, Inc		173,327
38,945	e*	Avanex Corp		44,008
2,346	e*	AZZ, Inc		93,605
8,923	e	Baldor Electric Co		312,127
2,307	e	Bel Fuse, Inc (Class B)		57,006
13,056	*	Benchmark Electronics, Inc		213,335
6,359	e*	BigBand Networks, Inc		30,078
19,461	*	Bookham, Inc		32,889
28,192	*	Capstone Turbine Corp		118,124
5,094	*	Ceradyne, Inc		174,724
3,895	*	Ceva, Inc		31,043
7,674	*	Checkpoint Systems, Inc		160,233
5,844	*	China BAK Battery, Inc		27,525
16	m,v*	China Energy Savings Technology, Inc		1

287

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,204	*	China Security & Surveillance Technology, Inc	$	70,150
4,686	*	Comtech Telecommunications Corp		229,614
1,843	*	CPI International, Inc		22,669
6,398		CTS Corp		64,300
2,834		Cubic Corp		63,142
5,601	*	Diodes, Inc		154,812
5,763	*	DSP Group, Inc		40,341
3,449	e*	DTS, Inc		108,023
5,191	*	Electro Scientific Industries, Inc		73,556
14,200	*	Emcore Corp		88,892
2,979	*	EMS Technologies, Inc		65,061
7,837	*	Energy Conversion Devices, Inc		577,117
5,316	*	EnerSys		181,967
1,776	*	Entropic Communications, Inc		8,436
20,467	e*	Evergreen Solar, Inc		198,325
7,603	*	Exar Corp		57,327
59,745	e*	Finisar Corp		71,097
4,424	e	Franklin Electric Co, Inc		171,563
13,257	e*	FuelCell Energy, Inc		94,125
3,904	*	Globecomm Systems, Inc		32,247
19,969	*	GrafTech International Ltd		535,768
4,338	e*	Greatbatch, Inc		75,047
831	*	GreenHunter Energy, Inc		11,351
18,209	*	Harmonic, Inc		173,168
5,094	e*	Harris Stratex Networks, Inc (Class A)		48,342
5,775	*	Helen of Troy Ltd		93,093
18,568	*	Hexcel Corp		358,362
3,778	*	Hittite Microwave Corp		134,572
4,554	e*	Hutchinson Technology, Inc		61,206
5,974		Imation Corp		136,924
17,962	e*	Infinera Corp		158,425
8,776	e*	InterDigital, Inc		213,432
6,922	*	InterVoice, Inc		39,455
3,717	*	IPG Photonics Corp		69,917
3,463	e*	iRobot Corp		47,582
4,946	*	IXYS Corp		59,055
15,063	e*	Kemet Corp		48,804
21,107	*	Lattice Semiconductor Corp		66,065
4,192	*	Littelfuse, Inc		132,258
1,981	*	Loral Space & Communications, Inc		34,905
3,142		LSI Industries, Inc		25,513
8,886	*	Mattson Technology, Inc		42,297
3,523	*	Maxwell Technologies, Inc		37,414
4,068	e*	Medis Technologies Ltd		13,709
3,913	*	Mercury Computer Systems, Inc		29,465
7,348		Methode Electronics, Inc		76,787
9,874		Micrel, Inc		90,347
15,217	e*	Microsemi Corp		383,164
10,515	*	Microtune, Inc		36,382
10,952	*	Microvision, Inc		30,118
7,975	*	MIPS Technologies, Inc		29,906
5,053	*	Monolithic Power Systems, Inc		109,246
8,248	*	Moog, Inc (Class A)		307,156
28,145	e*	MRV Communications, Inc		33,493

288

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,701	e*	Multi-Fineline Electronix, Inc	$	47,067
829		National Presto Industries, Inc		53,205
3,306	e*	Netlogic Microsystems, Inc		109,759
897	*	NVE Corp		28,399
10,220	e*	Omnivision Technologies, Inc		123,560
3,930	e*	Oplink Communications, Inc		37,728
3,540	*	OpNext, Inc		19,045
2,428	*	Optium Corp		17,676
1,600	e*	Orion Energy Systems, Inc		16,000
3,044	*	OSI Systems, Inc		65,202
3,935		Park Electrochemical Corp		95,660
4,455	*	Parkervision, Inc		44,238
4,628	*	Pericom Semiconductor Corp		68,680
8,110	*	Photronics, Inc		57,094
9,472		Plantronics, Inc		211,415
8,204	*	Plexus Corp		227,087
5,103	e*	PLX Technology, Inc		38,936
42,327	e*	PMC - Sierra, Inc		323,802
16,942	*	Polycom, Inc		412,707
3,087	*	Polypore International, Inc		78,194
1,404	*	Powell Industries, Inc		70,776
5,879	*	Power Integrations, Inc		185,835
13,081	e*	Power-One, Inc		24,723
25,412	e*	Powerwave Technologies, Inc		108,001
13,431	*	Quantum Fuel Systems Technologies Worldwide, Inc		41,367
3,636	*	Radyne Corp		41,559
3,094	e	Raven Industries, Inc		101,421
6,222		Regal-Beloit Corp		262,880
50,902	e*	RF Micro Devices, Inc		147,616
3,470	*	Rogers Corp		130,437
2,559	e*	Rubicon Technology, Inc		51,999
102,768	*	Sanmina-SCI Corp		131,543
5,984	*	Seachange International, Inc		42,845
11,786	*	Semtech Corp		165,829
8,387	e*	ShoreTel, Inc		37,071
14,134	*	Silicon Image, Inc		102,472
16,092	*	Silicon Storage Technology, Inc		44,575
31,535	e*	Skyworks Solutions, Inc		311,250
8,911	e*	Smart Modular Technologies WWH, Inc		34,129
24,673	e*	Spansion, Inc (Class A)		55,514
7,269	e*	Spectrum Brands, Inc		18,536
4,346	*	Standard Microsystems Corp		117,994
5,752	e*	Starent Networks Corp		72,360
2,830	*	Stoneridge, Inc		48,280
2,167	e*	Supertex, Inc		50,578
36,991	e*	Sycamore Networks, Inc		119,111
8,773	e*	Symmetricom, Inc		33,688
4,384	e*	Synaptics, Inc		165,408
3,730	*	Synthesis Energy Systems, Inc		33,570
7,916		Technitrol, Inc		134,493
2,935	*	Techwell, Inc		36,159
12,618	e*	Tekelec		185,611
9,359	*	Tessera Technologies, Inc		153,207
2,357	*	Transmeta Corp		32,550

289

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
11,198	*	Trident Microsystems, Inc	$	40,873
27,742	*	Triquint Semiconductor, Inc		168,117
8,259	*	TTM Technologies, Inc		109,101
3,343	*	Ultra Clean Holdings		26,610
2,423	*	Ultralife Corp		25,902
347	*	United Capital Corp		6,662
5,597	e*	Universal Display Corp		68,955
2,676	e*	Universal Electronics, Inc		55,928
12,005	*	US Geothermal, Inc		35,295
21,392	e*	Utstarcom, Inc		117,014
9,795	*	Valence Technology, Inc		43,392
4,899	*	Viasat, Inc		99,009
3,309	e	Vicor Corp		33,024
4,902	*	Volterra Semiconductor Corp		84,609
5,322	e*	Zoltek Cos, Inc		129,059
10,029	*	Zoran Corp		117,339
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		16,473,792
ENGINEERING AND MANAGEMENT SERVICES - 2.52%
5,177	*	Accelrys, Inc		25,005
3,370	*	Advisory Board Co		132,542
2,028	*	Affymax, Inc		32,265
13,422	e*	Ariad Pharmaceuticals, Inc		32,213
2,576		CDI Corp		65,533
3,612	e*	China Architectural Engineering, Inc		35,289
1,314	*	China Direct, Inc		9,645
3,481	e*	comScore, Inc		75,955
2,148	*	Cornell Cos, Inc		51,788
2,130	e*	CRA International, Inc		77,000
11,744	*	CV Therapeutics, Inc		96,653
10,738	*	Dyax Corp		33,288
8,362	*	eResearch Technology, Inc		145,833
20,331	e*	Exelixis, Inc		101,655
2,774	*	Exponent, Inc		87,131
7,045	*	Furmanite Corp		56,219
5,087	*	Greenfield Online, Inc		75,898
4,530	*	Hill International, Inc		74,473
3,715	e*	Huron Consulting Group, Inc		168,438
1,282	*	ICF International, Inc		21,307
14,239	e*	Incyte Corp		108,359
17,456	e*	Isis Pharmaceuticals, Inc		237,925
2,510	*	Kendle International, Inc		91,188
1,794	e	Landauer, Inc		100,895
4,939	*	LECG Corp		43,167
15,549	*	Lexicon Pharmaceuticals, Inc		24,878
7,119	e*	Luminex Corp		146,295
3,608		MAXIMUS, Inc		125,631
4,342	e*	Maxygen, Inc		14,719
1,241	*	Michael Baker Corp		27,153
8,637	e*	Myriad Genetics, Inc		393,156
331		National Research Corp		8,762
9,349	*	Navigant Consulting, Inc		182,866
6,431	*	Omnicell, Inc		84,761
3,610	*	PharmaNet Development Group, Inc		56,930

290

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,909	*	PRG-Schultz International, Inc	$	27,374
11,808	*	Regeneron Pharmaceuticals, Inc		170,508
32,068	e*	Rentech, Inc		60,929
6,009	*	Repligen Corp		28,362
8,802		Resources Connection, Inc		179,121
7,059	*	Rigel Pharmaceuticals, Inc		159,957
10,388	*	RTI Biologics, Inc		90,895
7,079	*	Sangamo Biosciences, Inc		70,436
10,494	e*	Savient Pharmaceuticals, Inc		265,498
11,713	e*	Seattle Genetics, Inc		99,092
8,781	*	Sequenom, Inc		140,145
1,709	*	Stanley, Inc		57,286
6,105	e*	Symyx Technologies, Inc		42,613
2,151	e*	Tejon Ranch Co		77,565
11,386	*	Tetra Tech, Inc		257,551
777		VSE Corp		21,368
8,254		Watson Wyatt & Co Holdings (Class A)		436,554
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		5,230,069
FABRICATED METAL PRODUCTS - 1.15%
4,029	*	Akeena Solar, Inc		22,643
1,775	e	Ameron International Corp		212,965
1,439	*	Bway Holding Co		12,390
5,479	*	Chart Industries, Inc		266,499
3,257		CIRCOR International, Inc		159,560
3,922	*	Commercial Vehicle Group, Inc		36,671
2,437	e	Dynamic Materials Corp		80,299
4,918	e*	Griffon Corp		43,082
2,355		Gulf Island Fabrication, Inc		115,230
3,492		Insteel Industries, Inc		63,939
2,666	*	Ladish Co, Inc		54,893
6,696	e*	Mobile Mini, Inc		133,920
22,289	e	Mueller Water Products, Inc (Class A)		179,872
3,817	e*	NCI Building Systems, Inc		140,198
1,592	*	Park-Ohio Holdings Corp		23,498
7,177		Quanex Building Products Corp		106,650
4,878		Silgan Holdings, Inc		247,510
7,197	e	Simpson Manufacturing Co, Inc		170,857
7,270	e*	Smith & Wesson Holding Corp		37,877
2,257	e	Sun Hydraulics Corp		72,833
11,912	e*	Taser International, Inc		59,441
2,533	*	Trimas Corp		15,173
5,507	e	Watts Water Technologies, Inc (Class A)		137,124
		TOTAL FABRICATED METAL PRODUCTS		2,393,124
FISHING, HUNTING, AND TRAPPING - 0.01%
1,292	*	HQ Sustainable Maritime Industries, Inc		17,119
		TOTAL FISHING, HUNTING, AND TRAPPING		17,119
FOOD AND KINDRED PRODUCTS - 1.15%
3,838	*	AgFeed Industries, Inc		57,455
1,523	e*	American Dairy, Inc		11,940
3,879		B&G Foods, Inc (Class A)		36,230
1,734	*	Boston Beer Co, Inc (Class A)		70,539

291

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,078		Coca-Cola Bottling Co Consolidated	$	39,864
15,773	*	Darling International, Inc		260,570
3,102		Diamond Foods, Inc		71,470
1,132	e	Farmer Bros Co		23,942
14,710		Flowers Foods, Inc		416,881
2,091	e	Imperial Sugar Co		32,473
2,739		J&J Snack Foods Corp		75,076
3,797	e	Lancaster Colony Corp		114,973
5,633	e	Lance, Inc		105,731
929	*	Lifeway Foods, Inc		11,046
2,461	e*	M&F Worldwide Corp		96,742
2,253		National Beverage Corp		16,379
3,550	*	Omega Protein Corp		53,073
2,700	e*	Peet's Coffee & Tea, Inc		53,514
2,178		Penford Corp		32,409
4,983	e*	Ralcorp Holdings, Inc		246,360
3,873	e	Reddy Ice Holdings, Inc		52,983
3,922	e	Sanderson Farms, Inc		135,387
12,116	*	Smart Balance, Inc		87,356
5,351	e	Tootsie Roll Industries, Inc		134,471
6,039	*	TreeHouse Foods, Inc		146,506
		TOTAL FOOD AND KINDRED PRODUCTS		2,383,370
FOOD STORES - 0.40%
223	e	Arden Group, Inc (Class A)		28,263
6,825	*	Great Atlantic & Pacific Tea Co, Inc		155,747
2,420		Ingles Markets, Inc (Class A)		56,459
4,058	e*	Pantry, Inc		43,258
8,141		Ruddick Corp		279,318
1,497	*	Susser Holdings Corp		14,491
528		Village Super Market (Class A)		20,370
2,216		Weis Markets, Inc		71,954
10,461	*	Winn-Dixie Stores, Inc		167,585
		TOTAL FOOD STORES		837,445
FURNITURE AND FIXTURES - 0.53%
4,766	e	Ethan Allen Interiors, Inc		117,244
8,538	e	Furniture Brands International, Inc		114,068
10,855		Herman Miller, Inc		270,181
8,596		HNI Corp		151,805
2,113	e	Hooker Furniture Corp		36,597
10,292		Interface, Inc (Class A)		128,959
6,179		Kimball International, Inc (Class B)		51,162
9,492	e	La-Z-Boy, Inc		72,614
7,948	e	Sealy Corp		45,622
14,132	e	Tempur-Pedic International, Inc		110,371
		TOTAL FURNITURE AND FIXTURES		1,098,623
FURNITURE AND HOME FURNISHINGS STORES - 0.18%
32,644		Circuit City Stores, Inc		94,341
3,769	e	Haverty Furniture Cos, Inc		37,841
2,408	e*	hhgregg, Inc		24,080
9,367		Knoll, Inc		113,809
17,221	e*	Pier 1 Imports, Inc		59,240

292

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,721	*	Rex Stores Corp	$	19,878
5,235		Tuesday Morning Corp		21,516
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		370,705
GENERAL BUILDING CONTRACTORS - 0.47%
276	e	Amrep Corp		13,135
1,182	e*	Avatar Holdings, Inc		35,803
7,950	e	Beazer Homes USA, Inc		44,282
2,042	e	Brookfield Homes Corp		25,076
1,250	*	Cavco Industries, Inc		40,913
8,959	e*	Hovnanian Enterprises, Inc (Class A)		49,095
2,707	e	M/I Homes, Inc		42,581
4,476		McGrath RentCorp		110,065
5,935	e*	Meritage Homes Corp		90,034
1,880	e*	Palm Harbor Homes, Inc		10,396
5,255	*	Perini Corp		173,678
8,197		Ryland Group, Inc		178,777
14,107	e	Standard-Pacific Corp		47,682
3,569	*	Team, Inc		122,488
		TOTAL GENERAL BUILDING CONTRACTORS		984,005
GENERAL MERCHANDISE STORES - 0.28%
8,900	e*	99 Cents Only Stores		58,740
9,811		Casey's General Stores, Inc		227,321
2,149	e*	Conn's, Inc		34,534
11,031		Dillard's, Inc (Class A)		127,629
7,620	e	Fred's, Inc		85,649
4,885	e*	Retail Ventures, Inc		22,471
4,938	e	Stein Mart, Inc		22,270
		TOTAL GENERAL MERCHANDISE STORES		578,614
HEALTH SERVICES - 1.76%
4,738	*	Alliance Imaging, Inc		41,078
1,235	*	Almost Family, Inc		32,851
5,126	*	Amedisys, Inc		258,453
6,093	*	Amsurg Corp		148,365
8,487	*	Apria Healthcare Group, Inc		164,563
10,775	*	Assisted Living Concepts, Inc (A Shares)		59,263
2,104	e*	Bio-Reference Labs, Inc		46,940
1,443	*	China Sky One Medical, Inc		16,061
1,551	*	Corvel Corp		52,532
5,704	*	Cross Country Healthcare, Inc		82,195
5,387	*	CryoLife, Inc		61,627
4,819	*	eHealth, Inc		85,104
3,811	e*	Emeritus Corp		55,717
1,616		Ensign Group, Inc		18,584
6,221	*	Enzo Biochem, Inc		69,800
6,167	*	Five Star Quality Care, Inc		29,170
2,697	e*	Genomic Health, Inc		51,648
1,610	*	Genoptix, Inc		50,796
4,967	*	Gentiva Health Services, Inc		94,621
15,245	*	Healthsouth Corp		253,524
6,797	e*	Healthways, Inc		201,191
12,636	e*	Immunomedics, Inc		26,915

293

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,100	*	IPC The Hospitalist Co, Inc	$	20,702
5,420	*	Kindred Healthcare, Inc		155,879
2,828	*	LHC Group, Inc		65,751
1,691	*	Life Sciences Research, Inc		47,754
7,832	*	Magellan Health Services, Inc		290,019
3,076	*	Medcath Corp		55,306
1,643	e	National Healthcare Corp		75,299
17,870	e*	Nektar Therapeutics		59,865
4,859	e*	Nighthawk Radiology Holdings, Inc		34,402
5,968	*	Odyssey HealthCare, Inc		58,128
10,580	e*	Psychiatric Solutions, Inc		400,347
3,493	*	RehabCare Group, Inc		55,993
3,898	*	Skilled Healthcare Group, Inc (Class A)		52,311
4,645	e*	Stereotaxis, Inc		24,897
8,331	*	Sun Healthcare Group, Inc		111,552
8,686	e*	Sunrise Senior Living, Inc		195,261
2,296	*	US Physical Therapy, Inc		37,677
1,354	e*	Virtual Radiologic Corp		17,941
		TOTAL HEALTH SERVICES		3,660,082
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.25%
4,219	e*	Comverge, Inc		58,982
6,404		Granite Construction, Inc		201,918
7,692		Great Lakes Dredge & Dock Corp		46,998
5,030	*	Matrix Service Co		115,992
4,166	*	Orion Marine Group, Inc		58,866
2,234	*	Sterling Construction Co, Inc		44,367
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		527,123
HOLDING AND OTHER INVESTMENT OFFICES - 6.49%
6,047	e	Acadia Realty Trust		139,988
1,390		Agree Realty Corp		30,650
368	e*	Alexander's, Inc		114,301
6,538	*	American Apparel, Inc		43,478
7,717		American Campus Communities, Inc		214,863
1,930		American Capital Agency Corp		32,115
3,624	e*	Ampal American Israel (Class A)		16,344
11,399	e	Anthracite Capital, Inc		80,249
15,969		Anworth Mortgage Asset Corp		103,958
27,516	e	Apollo Investment Corp		394,304
2,739	e	Arbor Realty Trust, Inc		24,569
23,175		Ashford Hospitality Trust, Inc		107,069
3,006		Associated Estates Realty Corp		32,194
13,876		BioMed Realty Trust, Inc		340,378
8,181		Capital Lease Funding, Inc		61,276
564	e	Capital Southwest Corp		58,786
3,291	e	Capital Trust, Inc (Class A)		63,220
10,370		Capstead Mortgage Corp		112,515
2,567		Care Investment Trust, Inc		24,207
8,159		Cedar Shopping Centers, Inc		95,623
1,385	e	Cherokee, Inc		27,908
2,037		Cogdell Spencer, Inc		33,101
9,174		Colonial Properties Trust		183,663
7,522		Corporate Office Properties Trust		258,230

294

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,008		Cousins Properties, Inc	$	208,085
3,457		Danvers Bancorp, Inc		38,027
33,226		DCT Industrial Trust, Inc		275,111
18,334		DiamondRock Hospitality Co		199,657
4,814		EastGroup Properties, Inc		206,521
5,513		Education Realty Trust, Inc		64,226
5,925		Entertainment Properties Trust		292,932
3,935		Equity Lifestyle Properties, Inc		173,140
6,826	e	Equity One, Inc		140,274
15,374		Extra Space Storage, Inc		236,145
12,171		FelCor Lodging Trust, Inc		127,796
8,574	e	First Industrial Realty Trust, Inc		235,528
4,735		First Potomac Realty Trust		72,161
11,183		Franklin Street Properties Corp		141,353
28,615	e	Friedman Billings Ramsey Group, Inc (Class A)		42,923
3,286	e	Getty Realty Corp		47,351
3,807	e	Gladstone Capital Corp		58,019
4,283		Gladstone Investment Corp		27,540
7,305	e	Glimcher Realty Trust		81,670
8,058		Gramercy Capital Corp		93,392
4,514	*	Harris & Harris Group, Inc		27,084
2,222		Hatteras Financial Corp		51,084
9,815		Healthcare Realty Trust, Inc		233,303
7,978		Hersha Hospitality Trust		60,234
10,831		Highwoods Properties, Inc		340,310
8,446	*	Hilltop Holdings, Inc		87,078
6,121		Home Properties, Inc		294,175
10,864	e	Inland Real Estate Corp		156,659
10,864		Investors Real Estate Trust		103,643
13,539	e	iShares Russell 2000 Index Fund		934,597
4,456	e	JER Investors Trust, Inc		28,073
3,707		Kite Realty Group Trust		46,338
7,758		LaSalle Hotel Properties		194,959
11,767		Lexington Corporate Properties Trust		160,384
4,513		LTC Properties, Inc		115,352
7,401	e	Maguire Properties, Inc		90,070
12,844	e	Medical Properties Trust, Inc		129,981
7,970	*	Meruelo Maddux Properties, Inc		17,375
29,381		MFA Mortgage Investments, Inc		191,564
5,055		Mid-America Apartment Communities, Inc		258,007
3,634	e	Mission West Properties, Inc		39,829
3,821		Monmouth Real Estate Investment Corp (Class A)		24,454
4,700		MVC Capital, Inc		64,343
4,261		National Health Investors, Inc		121,481
14,214		National Retail Properties, Inc		297,073
10,224	e	Newcastle Investment Corp		71,670
10,898	e	NorthStar Realty Finance Corp		90,671
13,392		Omega Healthcare Investors, Inc		222,977
1,546		One Liberty Properties, Inc		25,215
2,955		Parkway Properties, Inc		99,672
3,625	e	PennantPark Investment Corp		26,136
6,811	e	Pennsylvania Real Estate Investment Trust		157,607
8,538	e	Post Properties, Inc		254,006
7,501		Potlatch Corp		338,445

295

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,087	e	Prospect Capital Corp	$	67,047
2,824		PS Business Parks, Inc		145,718
11,999	e	RAIT Investment Trust		89,033
3,301		Ramco-Gershenson Properties		67,803
19,410	e	Realty Income Corp		441,772
6,359		Redwood Trust, Inc		144,922
3,915	e	Resource Capital Corp		28,227
1,943		Saul Centers, Inc		91,302
18,369		Senior Housing Properties Trust		358,747
4,228		Sovran Self Storage, Inc		175,716
14,395	e	Strategic Hotels & Resorts, Inc		134,881
3,086	e	Sun Communities, Inc		56,258
11,364		Sunstone Hotel Investors, Inc		188,642
6,102	e	Tanger Factory Outlet Centers, Inc		219,245
2,345		Universal Health Realty Income Trust		70,350
3,753		Urstadt Biddle Properties, Inc (Class A)		55,019
9,582		U-Store-It Trust		114,505
9,563	e	Washington Real Estate Investment Trust		287,368
9,813		Winthrop Realty Trust		35,327
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		13,480,571
HOTELS AND OTHER LODGING PLACES - 0.37%
4,917	e	Ameristar Casinos, Inc		67,953
3,732	e*	Bluegreen Corp		22,579
7,900	e*	Gaylord Entertainment Co		189,284
5,090	e*	Great Wolf Resorts, Inc		22,243
2,849	e*	Isle of Capri Casinos, Inc		13,647
3,328	*	Lodgian, Inc		26,058
3,923	e	Marcus Corp		58,649
2,064	e*	Monarch Casino & Resort, Inc		24,355
5,215	e*	Morgans Hotel Group Co		53,715
3,101	*	Outdoor Channel Holdings, Inc		21,645
1,802	e*	Riviera Holdings Corp		18,290
6,053	e*	Vail Resorts, Inc		259,250
		TOTAL HOTELS AND OTHER LODGING PLACES		777,668
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.79%
5,264	*	3PAR, Inc		41,270
2,490		Aaon, Inc		47,957
10,810	e	Actuant Corp (Class A)		338,894
1,200		Alamo Group, Inc		24,708
5,742	e	Albany International Corp (Class A)		166,518
5,425	*	Allis-Chalmers Energy, Inc		96,565
5,106	*	Altra Holdings, Inc		85,832
1,602		Ampco-Pittsburgh Corp		71,257
3,406	e*	Astec Industries, Inc		109,469
9,170	*	Asyst Technologies, Inc		32,737
4,841	*	AuthenTec, Inc		50,443
19,813	*	Axcelis Technologies, Inc		96,687
3,387		Black Box Corp		92,093
7,374	*	Blount International, Inc		85,612
1,672	*	Bolt Technology Corp		37,737
9,590	e	Briggs & Stratton Corp		121,601
12,516	*	Brooks Automation, Inc		103,507

296

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,986	e	Cascade Corp	$	84,048
15,682	e*	Cirrus Logic, Inc		87,192
4,176	*	Colfax Corp		104,776
3,673	*	Columbus McKinnon Corp		88,446
6,015	*	Cray, Inc		27,910
8,563		Curtiss-Wright Corp		383,109
5,870	e*	Cymer, Inc		157,786
5,942	*	Dril-Quip, Inc		374,346
10,082	*	Electronics for Imaging, Inc		147,197
13,073	*	Elixir Gaming Technologies, Inc		15,688
16,333	*	Emulex Corp		190,279
6,952	*	Ener1, Inc		51,584
5,238	e*	ENGlobal Corp		74,589
3,837	*	EnPro Industries, Inc		143,274
22,098	*	Entegris, Inc		144,742
22,800	e*	Extreme Networks, Inc		64,752
3,104	*	Flanders Corp		18,779
4,388	e*	Flotek Industries, Inc		90,481
7,272	e*	Flow International Corp		56,722
3,422	e*	Fuel Tech, Inc		60,296
2,172	e*	Gehl Co		32,124
2,700	e	Gorman-Rupp Co		107,568
961		Graham Corp		71,220
1,206	*	Harbin Electric, Inc		17,137
1,239	e*	Hurco Cos, Inc		38,273
5,917	*	Immersion Corp		40,295
11,910	*	Intermec, Inc		251,063
4,202	*	Intevac, Inc		47,399
4,764	e*	Isilon Systems, Inc		21,152
2,699	*	Kadant, Inc		60,997
5,354	e	Kaydon Corp		275,249
1,090	*	Key Technology, Inc		34,673
10,344	e*	Kulicke & Soffa Industries, Inc		75,408
2,305	e	Lindsay Manufacturing Co		195,856
2,807		Lufkin Industries, Inc		233,767
2,916		Met-Pro Corp		38,929
15,759	*	Micros Systems, Inc		480,492
3,280	e*	Middleby Corp		144,025
6,218		Modine Manufacturing Co		76,917
1,150		Nacco Industries, Inc (Class A)		85,503
3,868	e*	NATCO Group, Inc (Class A)		210,922
2,337	*	Natural Gas Services Group, Inc		71,232
7,626	*	Netezza Corp		87,546
6,842	*	Netgear, Inc		94,830
3,070		NN, Inc		42,796
6,519		Nordson Corp		475,170
605		Omega Flex, Inc		9,196
20,744	e	Palm, Inc		111,810
1,253	*	Peerless Manufacturing Co		58,728
39,787	e*	Quantum Corp		53,712
5,734	*	Rackable Systems, Inc		76,836
4,213	*	RBC Bearings, Inc		140,377
1,792	e*	Rimage Corp		22,203
10,856	*	Riverbed Technology, Inc		148,944

297

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
5,425		Robbins & Myers, Inc	$	270,545
20,402	e*	Safeguard Scientifics, Inc		25,298
2,146		Sauer-Danfoss, Inc		66,848
5,088	e*	Scansource, Inc		136,155
4,089	e*	Semitool, Inc		30,708
4,870	e*	Sigma Designs, Inc		67,644
2,290		Standex International Corp		47,495
6,000	e*	STEC, Inc		61,620
4,289	*	Super Micro Computer, Inc		31,653
2,414	*	T-3 Energy Services, Inc		191,841
3,157	*	Tecumseh Products Co (Class A)		103,486
3,208	e	Tennant Co		96,465
2,595	*	Thermadyne Holdings Corp		38,380
3,647	e*	TurboChef Technologies, Inc		17,433
1,618	e	Twin Disc, Inc		33,865
4,524	*	Ultratech, Inc		70,212
13,218	*	VeriFone Holdings, Inc		157,955
4,520	e	Watsco, Inc		188,936
11,359		Woodward Governor Co		405,062
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		9,942,833
INSTRUMENTS AND RELATED PRODUCTS - 5.58%
4,191	e*	Abaxis, Inc		101,129
5,889	e*	Abiomed, Inc		104,530
6,976	e*	Accuray, Inc		50,855
13,426	*	Affymetrix, Inc		138,154
11,988	e*	Align Technology, Inc		125,754
4,835	*	Alphatec Holdings, Inc		19,727
14,080	e*	American Medical Systems Holdings, Inc		210,496
1,757	e	American Science & Engineering, Inc		90,538
2,591		Analogic Corp		163,414
2,935	*	Anaren, Inc		31,023
4,672	*	Angiodynamics, Inc		63,633
2,408	e*	Argon ST, Inc		59,718
5,127	e*	Arthrocare Corp		209,233
290		Atrion Corp		27,788
1,690	*	Axsys Technologies, Inc		87,948
2,820	e	Badger Meter, Inc		142,495
3,489	*	Bio-Rad Laboratories, Inc (Class A)		282,225
10,031	*	Bruker BioSciences Corp		128,898
9,259	*	Caliper Life Sciences, Inc		23,981
2,115	*	Cantel Medical Corp		21,404
3,771	*	Cardiac Science Corp		30,922
867	*	CardioNet, Inc		23,088
11,016	*	Cepheid, Inc		309,770
4,569	*	Coherent, Inc		136,567
4,456		Cohu, Inc		65,414
5,545	*	Conmed Corp		147,220
4,591	e*	Cyberonics, Inc		99,625
1,852	e*	Cynosure, Inc (Class A)		36,707
2,546		Datascope Corp		119,662
9,266	*	Depomed, Inc		29,744
5,074	*	DexCom, Inc		30,647
3,515	*	Dionex Corp		233,291

298

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
694	*	DXP Enterprises, Inc	$	28,898
2,360	*	Eagle Test Systems, Inc		26,432
5,021	*	ESCO Technologies, Inc		235,585
5,689	*	Esterline Technologies Corp		280,240
13,592	e*	ev3, Inc		128,852
1,366	*	Exactech, Inc		35,120
2,153	*	Excel Technology, Inc		48,055
3,227	e*	FARO Technologies, Inc		81,224
7,057	*	FEI Co		160,758
2,140	*	FGX International Holdings Ltd		17,206
9,445	e*	Formfactor, Inc		174,071
8,777	e*	Fossil, Inc		255,147
4,902	*	Haemonetics Corp		271,865
4,440	*	Hanger Orthopedic Group, Inc		73,216
2,615	*	Herley Industries, Inc		34,727
2,312	*	ICU Medical, Inc		52,899
2,644	e*	ICx Technologies, Inc		19,301
4,179	e*	I-Flow Corp		42,417
4,721	*	II-VI, Inc		164,857
3,549	e*	Insulet Corp		55,826
3,446	e*	Integra LifeSciences Holdings Corp		153,278
6,211	e	Invacare Corp		126,953
16,358	e*	ION Geophysical Corp		285,447
3,556	*	IRIS International, Inc		55,651
8,027	*	Ixia		55,788
2,118	*	Kensey Nash Corp		67,882
13,333	*	Kopin Corp		38,266
469	*	K-Tron International, Inc		60,782
12,596	e*	L-1 Identity Solutions, Inc		167,779
2,360	*	LaBarge, Inc		30,680
11,421	*	LTX Corp		25,126
3,215	*	Lydall, Inc		40,348
8,911	e*	Masimo Corp		306,093
2,794	*	Measurement Specialties, Inc		49,146
2,583	*	Medical Action Industries, Inc		26,786
6,532	e	Mentor Corp		181,720
5,218	*	Merit Medical Systems, Inc		76,705
3,002	e*	Micrus Endovascular Corp		42,088
5,997	e	Mine Safety Appliances Co		239,820
9,638	*	MKS Instruments, Inc		211,072
3,061		Movado Group, Inc		60,608
3,395		MTS Systems Corp		121,813
5,336	*	Natus Medical, Inc		111,736
2,784	*	Neogen Corp		63,726
6,970	*	Newport Corp		79,388
6,880	*	NuVasive, Inc		307,261
3,604	e*	NxStage Medical, Inc		13,839
3,308	*	Orthofix International NV		95,767
12,765	*	Orthovita, Inc		26,168
789	e*	OYO Geospace Corp		46,504
3,287	e*	Palomar Medical Technologies, Inc		32,804
3,442	*	Photon Dynamics Inc		51,905
5,744	*	Rofin-Sinar Technologies, Inc		173,469
5,906	*	Rudolph Technologies, Inc		45,476

299

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
10,985	e*	Sirf Technology Holdings, Inc	$	47,455
3,267	e*	Sirona Dental Systems, Inc		84,681
2,491	*	Somanetics Corp		52,809
3,940	e*	Sonic Solutions, Inc		23,482
3,255	*	SonoSite, Inc		91,173
5,908	*	Spectranetics Corp		58,253
12,763	*	Star Scientific, Inc		15,316
11,528		STERIS Corp		331,545
6,865	*	Symmetry Medical, Inc		111,350
2,413	*	Synovis Life Technologies, Inc		45,437
6,857	*	Teledyne Technologies, Inc		334,553
10,540	*	Thoratec Corp		183,291
2,361	e*	Trans1, Inc		35,580
5,661	*	Varian, Inc		289,051
6,169	e*	Veeco Instruments, Inc		99,198
3,277	*	Vision-Sciences, Inc		12,289
3,011	e*	Vital Images, Inc		37,457
1,927		Vital Signs, Inc		109,415
11,720	e*	Vivus, Inc		78,290
2,519	*	Vnus Medical Technologies, Inc		50,405
9,136	*	Volcano Corp		111,459
7,195	*	Wright Medical Group, Inc		204,410
4,045	*	Zoll Medical Corp		136,195
2,993	*	Zygo Corp		29,421
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		11,576,685
INSURANCE AGENTS, BROKERS AND SERVICE - 0.28%
4,654	e*	Crawford & Co (Class B)		37,185
7,042		Hilb Rogal & Hobbs Co		306,045
1,145		Life Partners Holdings, Inc		22,877
7,643	e	National Financial Partners Corp		151,484
4,361	*	United America Indemnity Ltd (Class A)		58,307
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		575,898
INSURANCE CARRIERS - 3.62%
55,542		Ambac Financial Group, Inc		74,426
2,427	*	AmCOMP, Inc		23,590
10,752		American Equity Investment Life Holding Co		87,629
1,631		American Physicians Capital, Inc		79,006
2,050	*	American Safety Insurance Holdings Ltd		29,479
10,361	*	AMERIGROUP Corp		215,509
3,639	*	Amerisafe, Inc		58,006
4,258	e	Amtrust Financial Services, Inc		53,651
5,941	*	Argo Group International Holdings Ltd		199,380
16,526		Aspen Insurance Holdings Ltd		391,170
11,241	e	Assured Guaranty Ltd		202,226
1,592	e	Baldwin & Lyons, Inc (Class B)		27,828
6,473	e	Castlepoint Holdings Ltd		58,840
8,400	*	Centene Corp		141,036
7,497	e*	Citizens, Inc		45,957
2,937	*	CNA Surety Corp		37,124
1,386	e*	Darwin Professional Underwriters, Inc		42,689
8,029		Delphi Financial Group, Inc (Class A)		185,791
2,344		Donegal Group, Inc (Class A)		37,199

300

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,091	e	EMC Insurance Group, Inc	$	26,271
9,561		Employers Holdings, Inc		197,913
1,129	e*	Enstar Group Ltd		98,788
2,554		FBL Financial Group, Inc (Class A)		50,774
2,176	*	First Acceptance Corp		6,963
2,811	*	First Mercury Financial Corp		49,586
5,820		Flagstone Reinsurance Holdings Ltd		68,618
1,639	*	Fpic Insurance Group, Inc		74,279
5,570	*	Greenlight Capital Re Ltd (Class A)		127,330
1,125	*	Hallmark Financial Services		10,879
2,638		Harleysville Group, Inc		89,244
6,381	*	HealthExtras, Inc		192,323
9,555	*	Healthspring, Inc		161,288
7,864		Horace Mann Educators Corp		110,253
1,148	e	Independence Holding Co		11,216
3,068		Infinity Property & Casualty Corp		127,383
10,272		IPC Holdings Ltd		272,722
845		Kansas City Life Insurance Co		35,279
2,991	e	LandAmerica Financial Group, Inc		66,370
9,505		Maiden Holdings Ltd		60,832
10,920		Max Re Capital Ltd		232,924
7,173	e	Meadowbrook Insurance Group, Inc		38,017
2,808	*	Molina Healthcare, Inc		68,347
18,067	e	Montpelier Re Holdings Ltd		266,488
1,192	e	National Interstate Corp		21,909
438		National Western Life Insurance Co (Class A)		95,703
2,478	*	Navigators Group, Inc		133,936
1,035	e	NYMAGIC, Inc		19,831
4,783	e	Odyssey Re Holdings Corp		169,797
22,136	e	Phoenix Cos, Inc		168,455
9,465		Platinum Underwriters Holdings Ltd		308,654
6,156	*	PMA Capital Corp (Class A)		56,697
15,706		PMI Group, Inc		30,627
4,196		Presidential Life Corp		64,702
8,258	e*	Primus Guaranty Ltd		24,031
6,160	*	ProAssurance Corp		296,358
2,598		Procentury Corp		41,152
13,548		Quanta Capital Holdings Ltd		35,767
15,593		Radian Group, Inc		22,610
4,133	*	RadNet, Inc		25,625
3,577	e	RLI Corp		176,954
3,146		Safety Insurance Group, Inc		112,155
1,666	*	SCPIE Holdings Inc		46,631
4,144	*	SeaBright Insurance Holdings, Inc		60,005
10,132		Selective Insurance Group, Inc		190,076
2,740		State Auto Financial Corp		65,568
3,303		Stewart Information Services Corp		63,880
3,910		Tower Group, Inc		82,853
2,590	e*	Triple-S Management Corp (Class B)		42,347
4,400		United Fire & Casualty Co		118,492
8,677	*	Universal American Financial Corp		88,679
12,466	e	Validus Holdings Ltd		264,903
7,193		Zenith National Insurance Corp		252,906
		TOTAL INSURANCE CARRIERS		7,515,926

301

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
JUSTICE, PUBLIC ORDER AND SAFETY - 0.12%
2,711	*	China Fire & Security Group, Inc	$	21,824
9,864	*	Geo Group, Inc		221,940
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		243,764
LEATHER AND LEATHER PRODUCTS - 0.44%
16,110	*	CROCS, Inc		129,041
4,483	e*	Genesco, Inc		138,390
11,163	e*	Iconix Brand Group, Inc		134,849
3,246	*	Steven Madden Ltd		59,661
9,248	*	Timberland Co (Class A)		151,205
1,249	e	Weyco Group, Inc		33,136
9,627		Wolverine World Wide, Inc		256,752
		TOTAL LEATHER AND LEATHER PRODUCTS		903,034
LEGAL SERVICES - 0.03%
1,615	e*	Pre-Paid Legal Services, Inc		65,601
		TOTAL LEGAL SERVICES		65,601
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.02%
1,807	e*	Emergency Medical Services Corp (Class A)		40,892
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		40,892
LUMBER AND WOOD PRODUCTS - 0.26%
2,088	e	American Woodmark Corp		44,119
15,022	e*	Champion Enterprises, Inc		87,879
2,035	e	Deltic Timber Corp		108,893
19,994		Louisiana-Pacific Corp		169,749
1,213	e	Skyline Corp		28,506
3,212	e	Universal Forest Products, Inc		96,232
		TOTAL LUMBER AND WOOD PRODUCTS		535,378
METAL MINING - 0.62%
8,726	*	Allied Nevada Gold Corp		51,396
11,115	e*	Apex Silver Mines Ltd		54,575
106,597	e*	Coeur d'Alene Mines Corp		309,131
24,638	e*	Hecla Mining Co		228,148
9,952	*	Rosetta Resources, Inc		283,632
5,659		Royal Gold, Inc		177,466
5,835	e*	ShengdaTech, Inc		57,942
7,724	e*	Stillwater Mining Co		91,375
9,275	e*	Uranium Resources, Inc		34,225
		TOTAL METAL MINING		1,287,890
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.32%
4,521		Blyth, Inc		54,388
12,817		Callaway Golf Co		151,625
6,341		Daktronics, Inc		127,898
5,300	e*	Jakks Pacific, Inc		115,805
2,305	e	Marine Products Corp		15,213
5,734	e	Nautilus, Inc		29,129
3,519	*	RC2 Corp		65,313
2,954	*	Russ Berrie & Co, Inc		23,543

302

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
6,289	*	Shuffle Master, Inc	$	31,068
1,533	e*	Steinway Musical Instruments, Inc		40,471
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		654,453
MISCELLANEOUS RETAIL - 0.93%
4,652	*	1-800-FLOWERS.COM, Inc (Class A)		30,005
1,124	*	Bidz.com, Inc		9,790
3,876	e	Big 5 Sporting Goods Corp		29,341
2,583	e*	Blue Nile, Inc		109,829
11,704	e	Borders Group, Inc		70,224
2,761	*	Build-A-Bear Workshop, Inc		20,072
7,592	e*	Cabela's, Inc		83,588
5,530		Cash America International, Inc		171,430
10,172	*	CKX, Inc		89,005
11,016	*	Coldwater Creek, Inc		58,164
16,137	*	Drugstore.Com		30,660
7,438	*	Ezcorp, Inc (Class A)		94,835
1,887	*	Fuqi International, Inc		16,530
4,538	*	GSI Commerce, Inc		61,853
5,505	e*	Hibbett Sports, Inc		116,156
6,023		Longs Drug Stores Corp		253,629
5,904		Nutri/System, Inc		83,483
2,810	e*	Overstock.com, Inc		72,920
1,883	*	PC Connection, Inc		17,531
2,144	*	PC Mall, Inc		29,073
2,792		Pricesmart, Inc		55,226
3,805	*	Shutterfly, Inc		46,459
2,841	e*	Stamps.com, Inc		35,456
1,947	e	Systemax, Inc		34,365
5,386		World Fuel Services Corp		118,169
6,869	e*	Zale Corp		129,755
3,804	e*	Zumiez, Inc		63,070
		TOTAL MISCELLANEOUS RETAIL		1,930,618
MOTION PICTURES - 0.53%
7,005	e*	Avid Technology, Inc		119,015
36,618	e*	Blockbuster, Inc (Class A)		91,545
5,770	e	Cinemark Holdings, Inc		75,356
3,201	e*	Gaiam, Inc (Class A)		43,246
15,959	e*	Macrovision Solutions Corp		238,750
7,869		National CineMedia, Inc		83,884
28,469	e*	tw telecom inc		456,358
		TOTAL MOTION PICTURES		1,108,154
NONDEPOSITORY INSTITUTIONS - 0.80%
9,974		Advance America Cash Advance Centers, Inc		50,668
6,872	e	Advanta Corp (Class B)		43,225
18,796		Ares Capital Corp		189,464
2,509	e	BlackRock Kelso Capital Corp		23,735
7,360	e*	Boise, Inc		28,336
6,531	e	Chimera Investment Corp		58,844
3,824	e*	CompuCredit Corp		22,944
1,152	e*	Credit Acceptance Corp		29,445
1,037	*	Doral Financial Corp		14,041

303

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
3,005	*	Encore Capital Group, Inc	$	26,534
1,827	e	Federal Agricultural Mortgage Corp (Class C)		45,273
4,780	e	Financial Federal Corp		104,969
4,242	*	First Cash Financial Services, Inc		63,588
13,377		First Marblehead Corp		34,379
7,222	*	Guaranty Financial Group, Inc		38,782
5,988	e	Hercules Technology Growth Capital, Inc		53,473
3,348		Kohlberg Capital Corp		33,480
13,664	e	MCG Capital Corp		54,383
2,864		Medallion Financial Corp		26,979
4,927	e*	Mercadolibre, Inc		169,932
1,897	*	Mitcham Industries, Inc		32,401
3,050	e	Nelnet, Inc (Class A)		34,252
4,617	e*	NewStar Financial, Inc		27,286
4,188	e	NGP Capital Resources Co		64,537
6,905	e*	Ocwen Financial Corp		32,108
4,156	e	Patriot Capital Funding, Inc		25,975
10,472	*	PHH Corp		160,745
10,079	e*	thinkorswim Group, Inc		71,057
755	e	TICC Capital Corp		4,122
1	e*	TICC Capital Corp		0
3,113	e*	World Acceptance Corp		104,815
		TOTAL NONDEPOSITORY INSTITUTIONS		1,669,772
NONMETALLIC MINERALS, EXCEPT FUELS - 0.36%
4,843	e	AMCOL International Corp		137,832
6,222		Compass Minerals International, Inc		501,244
12,135	e*	General Moly, Inc		95,502
343	*	United States Lime & Minerals, Inc		13,573
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		748,151
OIL AND GAS EXTRACTION - 6.03%
8,123	*	Abraxas Petroleum Corp		43,945
1,479	e	APCO Argentina, Inc		42,817
1,739	*	Approach Resources, Inc		46,588
6,800	*	Arena Resources, Inc		359,176
6,480		Atlas America, Inc		291,924
5,374	*	ATP Oil & Gas Corp		212,112
7,981	e*	Basic Energy Services, Inc		251,402
8,166		Berry Petroleum Co (Class A)		480,814
7,085	*	Bill Barrett Corp		420,920
7,205	*	BMB Munai, Inc		42,798
3,754	*	Bois d'Arc Energy, Inc		91,260
8,940	e*	Brigham Exploration Co		141,520
4,867	e*	Bronco Drilling Co, Inc		89,455
8,555	*	Cal Dive International, Inc		122,251
4,056	*	Callon Petroleum Co		110,972
7,495	*	Cano Petroleum, Inc		59,510
5,217	*	Carrizo Oil & Gas, Inc		355,226
9,399	*	Cheniere Energy, Inc		41,074
1,081	*	Clayton Williams Energy, Inc		118,856
9,287	*	Complete Production Services, Inc		338,233
8,709	*	Comstock Resources, Inc		735,301
9,597	*	Concho Resources, Inc		357,968

304

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,542	e*	Contango Oil & Gas Co	$	236,203
1,495	*	Dawson Geophysical Co		88,893
12,138	e*	Delta Petroleum Corp		309,762
1,578	*	Double Eagle Petroleum Co		28,767
21,957	*	Endeavour International Corp		47,647
6,177	*	Energy Partners Ltd		92,161
13,503	*	Energy XXI Bermuda Ltd		93,441
14,229	e*	EXCO Resources, Inc		525,192
7,781	e*	FX Energy, Inc		41,006
18,155	*	Gasco Energy, Inc		75,343
6,829	e*	GeoGlobal Resources, Inc		14,546
1,285	*	Geokinetics, Inc		23,271
3,573	e*	Geomet, Inc		33,872
1,068	*	Georesources, Inc		19,673
2,833	*	GMX Resources, Inc		209,925
3,892	e*	Goodrich Petroleum Corp		322,725
34,234	e*	Grey Wolf, Inc		309,133
5,068	e*	Gulfport Energy Corp		83,470
6,832	e*	Harvest Natural Resources, Inc		75,562
2,880	*	Houston American Energy Corp		32,314
1,860	e	Kayne Anderson Energy Development Co		42,687
9,766	e*	McMoRan Exploration Co		268,760
16,787	*	Meridian Resource Corp		49,522
17,394	e*	Newpark Resources, Inc		136,717
3,796	*	Northern Oil And Gas, Inc		50,411
31,909	e*	Oilsands Quest, Inc		207,409
1,418		Panhandle Oil and Gas, Inc		48,013
8,003	*	Parallel Petroleum Corp		161,100
21,862	e*	Parker Drilling Co		218,839
7,966		Penn Virginia Corp		600,796
800	m,v*	Petrocorp, Inc		0
2,874	*	Petroleum Development Corp		191,092
8,393	e*	Petroquest Energy, Inc		225,772
9,630	*	Pioneer Drilling Co		181,140
3,264	*	PowerSecure International, Inc		23,697
180	*	PrimeEnergy Corp		9,988
3,881	*	Quest Resource Corp		44,282
6,988	*	RAM Energy Resources, Inc		44,024
3,246	*	Rex Energy Corp		85,694
5,910	e	RPC, Inc		99,288
5,497	*	Stone Energy Corp		362,307
10,336	e*	Sulphco, Inc		23,463
3,197	e*	Superior Well Services, Inc		101,377
5,910	*	Swift Energy Co		390,415
3,267	e*	Toreador Resources Corp		27,868
2,456	e*	Trico Marine Services, Inc		89,448
4,327	*	Tri-Valley Corp		32,150
6,780	e*	TXCO Resources, Inc		79,733
2,716	*	Union Drilling, Inc		58,883
11,426	*	Vaalco Energy, Inc		96,778
3,922	*	Venoco, Inc		91,030
11,277	*	Warren Resources, Inc		165,546
5,942	*	W-H Energy Services, Inc		568,887

305

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,515	*	Willbros Group, Inc	$	329,232
		TOTAL OIL AND GAS EXTRACTION		12,523,376
PAPER AND ALLIED PRODUCTS - 0.43%
10,297	e	AbitibiBowater, Inc		96,071
7,579	*	Buckeye Technologies, Inc		64,118
9,545	e*	Cenveo, Inc		93,255
8,751		Glatfelter		118,226
27,981	e*	Graphic Packaging Holding Co		56,522
3,480	*	Kapstone Paper and Packaging Corp		23,212
5,701	e*	Mercer International, Inc		42,643
2,645		Neenah Paper, Inc		44,198
7,374		Rock-Tenn Co (Class A)		221,146
3,035		Schweitzer-Mauduit International, Inc		51,140
2,710	*	Verso Paper Corp		22,927
8,403	e	Wausau Paper Corp		64,787
		TOTAL PAPER AND ALLIED PRODUCTS		898,245
PERSONAL SERVICES - 0.45%
1,448		Angelica Corp		30,799
5,401	*	Coinstar, Inc		176,667
3,829		G & K Services, Inc (Class A)		116,631
5,357	e	Jackson Hewitt Tax Service, Inc		65,463
8,195		Regis Corp		215,938
18,254	e*	Sally Beauty Holdings, Inc		117,921
3,143	*	Steiner Leisure Ltd		89,104
2,777		Unifirst Corp		124,021
		TOTAL PERSONAL SERVICES		936,544
PETROLEUM AND COAL PRODUCTS - 0.30%
2,401	e	Alon USA Energy, Inc		28,716
7,076	*	American Oil & Gas, Inc		27,738
4,452	*	CVR Energy, Inc		85,701
2,571		Delek US Holdings, Inc		23,679
18,478	*	Gran Tierra Energy, Inc		147,270
8,125	e*	Headwaters, Inc		95,631
1,989		Quaker Chemical Corp		53,027
3,176		WD-40 Co		92,898
5,774		Western Refining, Inc		68,364
		TOTAL PETROLEUM AND COAL PRODUCTS		623,024
PRIMARY METAL INDUSTRIES - 1.36%
8,464		Belden CDT, Inc		286,760
3,949	*	Brush Engineered Materials, Inc		96,435
1,898	e*	Coleman Cable, Inc		19,587
4,154	e	Encore Wire Corp		88,023
3,055	e*	Esmark, Inc		58,412
2,786	*	Fushi Copperweld, Inc		66,112
2,089	*	General Steel Holdings, Inc		32,839
5,200		Gibraltar Industries, Inc		83,044
2,305	e*	Haynes International, Inc		132,653
6,761	*	Horsehead Holding Corp		82,214
2,136	*	LB Foster Co (Class A)		70,915
6,034		Matthews International Corp (Class A)		273,099
4,675	*	Metalico, Inc		81,906

306

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
7,181		Mueller Industries, Inc	$	231,228
1,768	e*	Northwest Pipe Co		98,654
1,749	e	Olympic Steel, Inc		132,784
4,446	*	RTI International Metals, Inc		158,367
3,748	*	Superior Essex, Inc		167,273
1,463	*	Sutor Technology Group Ltd		10,343
4,776	e	Texas Industries, Inc		268,077
5,068		Tredegar Corp		74,500
1,257	*	Universal Stainless & Alloy		46,559
12,444	e	Worthington Industries, Inc		255,102
		TOTAL PRIMARY METAL INDUSTRIES		2,814,886
PRINTING AND PUBLISHING - 0.88%
10,474	*	ACCO Brands Corp		117,623
3,956		AH Belo Corp (Class A)		22,549
9,446		American Greetings Corp (Class A)		116,564
17,256		Belo (A.H.) Corp (Class A)		126,141
5,018		Bowne & Co, Inc		63,980
4,447	*	China Information Security Technology, Inc		25,170
1,927	*	Consolidated Graphics, Inc		94,943
1,925	e	Courier Corp		38,654
1,419		CSS Industries, Inc		34,368
4,243	*	Dolan Media Co		77,223
4,972		Ennis, Inc		77,812
4,980	e	GateHouse Media, Inc		12,251
7,100		Harte-Hanks, Inc		81,295
7,629	e	Journal Communications, Inc (Class A)		36,772
8,575	e	Lee Enterprises, Inc		34,214
4,722	e*	Martha Stewart Living Omnimedia, Inc (Class A)		34,943
11,017		McClatchy Co (Class A)		74,695
4,011		Media General, Inc (Class A)		47,931
1,611	e	Multi-Color Corp		33,815
3,745	e*	Playboy Enterprises, Inc (Class B)		18,500
5,324	*	Presstek, Inc		26,407
7,864	e	Primedia, Inc		36,646
13,282	*	R.H. Donnelley Corp		39,846
2,574		Schawk, Inc		30,862
5,052		Scholastic Corp		144,790
2,812	e	Standard Register Co		26,517
9,295	e*	Valassis Communications, Inc		116,373
8,544	e*	VistaPrint Ltd		228,637
		TOTAL PRINTING AND PUBLISHING		1,819,521
RAILROAD TRANSPORTATION - 0.09%
5,812	*	Genesee & Wyoming, Inc (Class A)		197,724
		TOTAL RAILROAD TRANSPORTATION		197,724
REAL ESTATE - 0.26%
954	e	Consolidated-Tomoka Land Co		40,125
4,322		DuPont Fabros Technology, Inc		80,562
6,891	*	Forestar Real Estate Group, Inc		131,274
1,376	e*	FX Real Estate and Entertainment, Inc		2,614
7,536	e	Grubb & Ellis Co		29,014
5,659	e*	LoopNet, Inc		63,947

307

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
16,896	e	Stewart Enterprises, Inc (Class A)	$	121,651
1,006	e*	Stratus Properties, Inc		17,494
4,606		Thomas Properties Group, Inc		45,323
		TOTAL REAL ESTATE		532,004
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.81%
968	e*	AEP Industries, Inc		16,814
11,466		Cooper Tire & Rubber Co		89,893
2,523	e*	Deckers Outdoor Corp		351,202
3,666	e*	Metabolix, Inc		35,927
5,246		Schulman (A.), Inc		120,815
6,355	*	Skechers U.S.A., Inc (Class A)		125,575
5,650		Spartech Corp		53,280
5,205	e	Titan International, Inc		185,402
2,500	e*	Trex Co, Inc		29,325
11,991		Tupperware Corp		410,332
6,254	e	West Pharmaceutical Services, Inc		270,673
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,689,238
SECURITY AND COMMODITY BROKERS - 1.13%
4,703	*	Broadpoint Securities Group, Inc		9,406
3,772		Calamos Asset Management, Inc (Class A)		64,237
3,244	e	Cohen & Steers, Inc		84,247
398	*	Diamond Hill Investment Group, Inc		33,233
2,048	*	Duff & Phelps Corp		33,915
1,802		Epoch Holding Corp		16,416
1,732		Evercore Partners, Inc (Class A)		16,454
5,880	*	FBR Capital Markets Corp		29,576
4,391	e*	FCStone Group, Inc		122,641
1,464		GAMCO Investors, Inc (Class A)		72,644
12,798		GFI Group, Inc		115,310
3,351	e	Greenhill & Co, Inc		180,485
7,768	e*	Interactive Brokers Group, Inc (Class A)		249,586
820	*	International Assets Holding Corp		24,649
5,622	e*	KBW, Inc		115,701
17,938	*	Knight Capital Group, Inc (Class A)		322,525
9,358	*	LaBranche & Co, Inc		66,255
17,713	e*	Ladenburg Thalmann Financial Services, Inc		26,747
5,576	e*	MarketAxess Holdings, Inc		42,155
8,177	e	optionsXpress Holdings, Inc		182,674
3,261	e*	Penson Worldwide, Inc		38,969
3,626	e*	Piper Jaffray Cos		106,351
1,090	e	Pzena Investment Management, Inc		13,908
3,920	e	Sanders Morris Harris Group, Inc		26,578
4,554	*	Stifel Financial Corp		156,612
4,710		SWS Group, Inc		78,233
3,799	e*	Thomas Weisel Partners Group, Inc		20,781
2,197	e	US Global Investors, Inc (Class A)		36,800
373		Value Line, Inc		12,402
1,037		Westwood Holdings Group, Inc		41,273
		TOTAL SECURITY AND COMMODITY BROKERS		2,340,763
SOCIAL SERVICES - 0.08%
4,525	*	Capital Senior Living Corp		34,119

308

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,322	*	Providence Service Corp	$	49,017
4,805	*	Res-Care, Inc		85,433
		TOTAL SOCIAL SERVICES		168,569
SPECIAL TRADE CONTRACTORS - 0.55%
736	e	Alico, Inc		25,510
6,697	*	AsiaInfo Holdings, Inc		79,159
4,594	e	Chemed Corp		168,186
7,768		Comfort Systems USA, Inc		104,402
7,761	*	Dycom Industries, Inc		112,690
13,134	*	EMCOR Group, Inc		374,713
5,367	e*	Insituform Technologies, Inc (Class A)		81,739
2,310	e*	Integrated Electrical Services, Inc		39,732
3,711	e*	Layne Christensen Co		162,505
		TOTAL SPECIAL TRADE CONTRACTORS		1,148,636
STONE, CLAY, AND GLASS PRODUCTS - 0.26%
5,599	e	Apogee Enterprises, Inc		90,480
4,540	*	Cabot Microelectronics Corp		150,501
3,972	e	CARBO Ceramics, Inc		231,766
2,662	e	Libbey, Inc		19,805
7,680	e*	US Concrete, Inc		36,557
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		529,109
TEXTILE MILL PRODUCTS - 0.03%
2,734		Oxford Industries, Inc		52,356
3,834	e	Xerium Technologies, Inc		15,183
		TOTAL TEXTILE MILL PRODUCTS		67,539
TOBACCO PRODUCTS - 0.16%
5,223	e	Universal Corp		236,184
6,079	e	Vector Group Ltd		98,054
		TOTAL TOBACCO PRODUCTS		334,238
TRANSPORTATION BY AIR - 0.59%
2,075	e*	Air Methods Corp		51,875
22,648	e*	Airtran Holdings, Inc		46,202
6,957	e*	Alaska Air Group, Inc		106,720
2,641	*	Allegiant Travel Co		49,096
2,573	e*	Atlas Air Worldwide Holdings, Inc		127,261
3,854	e*	Bristow Group, Inc		190,734
7,693	*	Hawaiian Holdings, Inc		53,466
33,463	e*	JetBlue Airways Corp		124,817
2,523	e*	PHI, Inc		101,349
6,765	*	Republic Airways Holdings, Inc		58,585
11,244	e	Skywest, Inc		142,237
24,320		UAL Corp		126,950
17,841	*	US Airways Group, Inc		44,603
		TOTAL TRANSPORTATION BY AIR		1,223,895
TRANSPORTATION EQUIPMENT - 2.03%
3,862	e	A.O. Smith Corp		126,789
7,495	e*	AAR Corp		101,407
6,836	e*	Accuride Corp		29,053

309

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
1,981	*	Aerovironment, Inc	$	53,844
8,904	e	American Axle & Manufacturing Holdings, Inc		71,143
1,810	e	American Railcar Industries, Inc		30,372
4,294	e*	Amerigon, Inc		30,530
14,264	e	ArvinMeritor, Inc		178,015
4,112	*	ATC Technology Corp		95,727
16,950		Brunswick Corp		179,670
9,770		Clarcor, Inc		342,927
4,976	*	Cogo Group, Inc		45,331
19,168	*	Dana Holding Corp		102,549
2,128	*	Dorman Products, Inc		17,152
2,042		Ducommun, Inc		46,884
9,290		Federal Signal Corp		111,480
11,448	e*	Fleetwood Enterprises, Inc		29,994
12,679	e*	Force Protection, Inc		41,967
2,180	e	Freightcar America, Inc		77,390
2,337	*	Fuel Systems Solutions, Inc		89,975
11,035	e*	GenCorp, Inc		79,011
1,738	e*	GenTek, Inc		46,735
3,168	e	Greenbrier Cos, Inc		64,310
4,483	e	Group 1 Automotive, Inc		89,077
19,558	*	Hayes Lemmerz International, Inc		55,545
4,718	e	Heico Corp		153,524
4,907		Kaman Corp		111,683
1,675	*	LMI Aerospace, Inc		29,430
11,322	*	Orbital Sciences Corp		266,746
6,377	e	Polaris Industries, Inc		257,503
6,084	e	Spartan Motors, Inc		45,447
4,454	e	Superior Industries International, Inc		75,184
9,019	e*	Tenneco, Inc		122,027
6,430	e*	TransDigm Group, Inc		215,984
3,196	e	Triumph Group, Inc		150,532
24,529	e*	Visteon Corp		64,511
5,943	e	Wabash National Corp		44,929
9,365		Westinghouse Air Brake Technologies Corp		455,326
5,354	e	Winnebago Industries, Inc		54,557
2,856	*	Wonder Auto Technology, Inc		20,078
		TOTAL TRANSPORTATION EQUIPMENT		4,204,338
TRANSPORTATION SERVICES - 0.47%
3,688	e	Ambassadors Group, Inc		55,025
1,934	*	Dynamex, Inc		51,851
7,166	*	HUB Group, Inc (Class A)		244,576
13,740	*	Lear Corp		194,833
7,068	e*	Orbitz Worldwide, Inc		35,411
6,709		Pacer International, Inc		144,311
8,162	e	Ship Finance International Ltd		241,024
		TOTAL TRANSPORTATION SERVICES		967,031
TRUCKING AND WAREHOUSING - 0.56%
4,381	e	Arkansas Best Corp		160,520
4,223	*	Celadon Group, Inc		42,188
5,613		Forward Air Corp		194,210
10,805	e	Heartland Express, Inc		161,103

310

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
2,874	*	Marten Transport Ltd	$	45,898
5,547	e*	Old Dominion Freight Line		166,521
326	*	Patriot Transportation Holding, Inc		26,080
2,220	*	Saia, Inc		24,242
1,077	e*	Universal Truckload Services, Inc		23,716
8,391	e	Werner Enterprises, Inc		155,905
11,042	*	YRC Worldwide, Inc		164,195
		TOTAL TRUCKING AND WAREHOUSING		1,164,578
WATER TRANSPORTATION - 1.06%
9,028	e*	American Commercial Lines, Inc		98,676
2,424	e	Arlington Tankers Ltd		56,285
7,589		DHT Maritime Inc		76,118
9,044	e	Eagle Bulk Shipping, Inc		267,431
4,298	e	Genco Shipping & Trading Ltd		280,230
5,089	e	General Maritime Corp		132,212
6,839	e	Golar LNG Ltd		105,936
4,114	*	Gulfmark Offshore, Inc		239,353
5,717	e	Horizon Lines, Inc (Class A)		56,884
4,485	e*	Hornbeck Offshore Services, Inc		253,447
1,173	*	International Shipholding Corp		27,495
3,308		Knightsbridge Tankers Ltd		106,551
6,653		Nordic American Tanker Shipping		258,269
9,321	e*	Odyssey Marine Exploration, Inc		36,911
2,028	e*	TBS International Ltd (Class A)		81,019
2,500	e	Teekay Tankers Ltd		58,025
4,841	e*	Ultrapetrol Bahamas Ltd		61,045
		TOTAL WATER TRANSPORTATION		2,195,887
WHOLESALE TRADE-DURABLE GOODS - 1.47%
4,313	e	Agilysys, Inc		48,909
8,185		Applied Industrial Technologies, Inc		197,831
9,254	e	Barnes Group, Inc		213,675
8,561	e*	Beacon Roofing Supply, Inc		90,832
2,240	*	Cardtronics, Inc		19,869
3,191		Castle (A.M.) & Co		91,295
2,137	*	Chindex International, Inc		31,350
5,841	e*	Conceptus, Inc		108,000
3,788	*	DemandTec, Inc		28,448
4,954	*	Digi International, Inc		38,889
3,810	e*	Drew Industries, Inc		60,770
3,295	e*	Hansen Medical, Inc		55,092
3,442	e	Houston Wire & Cable Co		68,496
15,676		IKON Office Solutions, Inc		176,825
9,062	*	Insight Enterprises, Inc		106,297
6,265	*	Interline Brands, Inc		99,801
11,080	e	Knight Transportation, Inc		202,764
904		Lawson Products, Inc		22,401
2,700	*	MedAssets, Inc		46,035
1,987	*	MWI Veterinary Supply, Inc		65,790
7,780		Owens & Minor, Inc		355,468
8,167	e	PEP Boys-Manny Moe & Jack		71,216
9,255		Pool Corp		164,369
11,982	*	PSS World Medical, Inc		195,307

311

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
SHARES		COMPANY		VALUE
9,987	*	Solera Holdings, Inc	$	276,240
1,419	e*	Titan Machinery, Inc		44,443
7,931	e*	TomoTherapy, Inc		70,824
7,362	*	Tyler Technologies, Inc		99,902
		TOTAL WHOLESALE TRADE-DURABLE GOODS		3,051,138
WHOLESALE TRADE-NONDURABLE GOODS - 1.32%
4,726		Aceto Corp		36,107
10,047	e*	Akorn, Inc		33,256
18,719	*	Alliance One International, Inc		95,654
11,045	e*	Allscripts Healthcare Solutions, Inc		137,068
3,502	e	Andersons, Inc		142,566
5,604	e*	BMP Sunstone Corp		31,943
1,819	e*	Core-Mark Holding Co, Inc		47,658
8,113	e*	Fresh Del Monte Produce, Inc		191,223
3,328	e*	Green Mountain Coffee Roasters, Inc		125,033
7,844	*	Hain Celestial Group, Inc		184,177
28,498		Idearc, Inc		66,970
1,726	e	Kenneth Cole Productions, Inc (Class A)		21,920
5,019	e	K-Swiss, Inc (Class A)		73,779
3,360	*	LSB Industries, Inc		66,528
998	e*	Maui Land & Pineapple Co, Inc		29,391
9,981	e	Men's Wearhouse, Inc		162,590
4,981		Myers Industries, Inc		40,595
2,342	e	Nash Finch Co		80,260
9,584		Nu Skin Enterprises, Inc (Class A)		142,993
2,195	*	Perry Ellis International, Inc		46,578
1,806		Schiff Nutrition International, Inc		10,114
3,836	e*	School Specialty, Inc		114,044
4,184		Spartan Stores, Inc		96,232
2,008	e*	Synutra International, Inc		64,899
6,447	*	Tractor Supply Co		187,221
8,300	e*	United Natural Foods, Inc		161,684
4,529	*	United Stationers, Inc		167,347
3,516	e*	Volcom, Inc		84,138
4,121		Zep, Inc		61,278
3,566	*	Zhongpin, Inc		44,575
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		2,747,821
		TOTAL COMMON STOCKS		203,813,960
		(Cost $227,317,680)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 30.38%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.57%
$      1,170,000		Federal Home Loan Bank (FHLB) , 07/01/08		1,170,000
				1,170,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 29.81%
61,888,880		State Street Navigator Securities Lending Prime Portfolio		61,888,880
				61,888,880
		TOTAL SHORT-TERM INVESTMENTS		63,058,880
		(Cost $63,058,880)

312

TIAA-CREF INSTITUTIONAL FUNDS - Small-Cap Blend Index Fund
				VALUE
		TOTAL PORTFOLIO - 128.55%	$	266,872,840
		(Cost $290,376,560)
		OTHER ASSETS & LIABILITIES, NET - (28.55)%		(59,268,103	)
		NET ASSETS - 100.00%	$	207,604,737
	*	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 $427,750.
	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 June 30, 2008, the unrealized depreciation on investments was $23,503,720, consisting of
		gross unrealized appreciation of $22,672,250 and gross unrealized depreciation of $46,175,970.

	NUMBER OF	MARKET	EXPIRATION	UNREALIZED
OPEN FUTURES CONTRACTS:	CONTRACTS	VALUE	DATE	(DEPRECIATION)
E-mini Russell 2000 Index	19	$ 1,314,230	September 2008	$ (29,248)

313

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INTERNATIONAL EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.30%
ADMINISTRATION OF ECONOMIC PROGRAMS - 0.02%
2,796		Bureau Veritas S.A.	$	165,730
		TOTAL ADMINISTRATION OF ECONOMIC PROGRAMS		165,730
AGRICULTURAL SERVICES - 0.13%
14,175		Yara International ASA		1,251,873
		TOTAL AGRICULTURAL SERVICES		1,251,873
AMUSEMENT AND RECREATION SERVICES - 0.68%
23,587	e	Aristocrat Leisure Ltd		144,870
43,840		Ladbrokes plc		222,753
4,383	e	Lottomatica S.p.A.		130,593
7,400		Nintendo Co Ltd		4,196,341
16,153		OPAP S.A.		565,174
3,900	e	Oriental Land Co Ltd		233,004
13,800	e	Sega Sammy Holdings, Inc		120,803
35,343	e	Sky City Entertainment Group Ltd		82,421
39,261	e	TABCORP Holdings Ltd		369,149
84,949	e	Tattersall's Ltd		191,641
25,735		William Hill plc		163,211
		TOTAL AMUSEMENT AND RECREATION SERVICES		6,419,960
APPAREL AND ACCESSORY STORES - 0.36%
30,826		Burberry Group plc		277,253
3,800	e	Fast Retailing Co Ltd		360,518
38,066	e	Hennes & Mauritz AB (B Shares)		2,053,672
15,900	e	Inditex S.A.		728,867
		TOTAL APPAREL AND ACCESSORY STORES		3,420,310
APPAREL AND OTHER TEXTILE PRODUCTS - 0.14%
11,000		Asics Corp		120,226
56,000		C C Land Holdings Ltd		34,864
5,006	e	Hermes International		786,033
35,000	e	Mitsubishi Rayon Co Ltd		110,398
10,000		Nisshinbo Industries, Inc		119,008
9,000	e	Onward Kashiyama Co Ltd		94,631
1,500		Shimamura Co Ltd		92,490
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,357,650
AUTO REPAIR, SERVICES AND PARKING - 0.07%
14,300		Aisin Seiki Co Ltd		469,736
7,700	e	NOK Corp		122,540
11,000	e	Sumitomo Rubber Industries, Inc		82,279
		TOTAL AUTO REPAIR, SERVICES AND PARKING		674,555
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.11%

314

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
45,000	e	Fuji Heavy Industries Ltd	$	220,764
30,596		Inchcape plc		193,657
26,200	e	Suzuki Motor Corp		620,535
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,034,956
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.04%
173,397		Kingfisher plc		384,423
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		384,423
BUSINESS SERVICES - 1.86%
2,080	e	Acciona S.A.		491,686
9,577		Adecco S.A.		473,410
4,954	e	Atos Origin S.A.		272,888
18,913	e	Autostrade S.p.A.		571,224
15,609	e	Cintra Concesiones de Infraestructuras de Transporte S.A.		174,145
33,995		Computershare Ltd		299,649
4,100	e	CSK Holdings Corp		80,779
4,758	e	Dassault Systemes S.A.		288,844
21		Dena Co Ltd		123,695
137	e	Dentsu, Inc		290,723
8,200	e*	Elpida Memory, Inc		262,982
73,961		Experian Group Ltd		547,013
137,000		Fujitsu Ltd		1,017,336
94,580		Group 4 Securicor plc		379,894
1,410		Hakuhodo DY Holdings, Inc		75,263
98,904		Hays plc		177,320
20,632	e	IFIL - Investments S.p.A.		133,333
7,002		Indra Sistemas S.A.		181,529
4,221	e	JC Decaux S.A.		106,996
12,700	e	JSR Corp		252,390
7,500	e	Konami Corp		262,322
101,052		LogicaCMG plc		216,383
4,170		Mitsubishi UFJ Lease & Finance Co Ltd		181,191
145,000		NEC Corp		761,316
7,800		Nomura Research Institute Ltd		182,882
92		NTT Data Corp		360,176
500		Obic Co Ltd		84,080
2,500	e	Oracle Corp Japan		101,921
1,000		Otsuka Corp		69,061
7,241		Public Power Corp		251,154
9,845	e	Publicis Groupe S.A.		317,643
476	e	Rakuten, Inc		240,298
7,305		Randstad Holdings NV		254,244
97,181		Sage Group plc		402,315
65,144	e	SAP AG.		3,409,463
15,300		Secom Co Ltd		745,235
23,314	e	Securitas AB (B Shares)		269,679
349		SGS S.A.		497,691
56,500	e	Softbank Corp		952,755
4,700	e	Square Enix Co Ltd		139,087
7,500	e	Trend Micro, Inc		247,329
8,636		United Internet AG.		170,144
2,340		USS Co Ltd		154,612
82,422		WPP Group plc		787,599

315

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
1,130	e	Yahoo! Japan Corp	$	435,225
		TOTAL BUSINESS SERVICES		17,694,904
CHEMICALS AND ALLIED PRODUCTS - 9.03%
7,288	*	Actelion Ltd		388,767
18,821	e	Air Liquide		2,477,793
20,298		Akzo Nobel NV		1,389,065
2,200		Alfresa Holdings Corp		157,457
87,000		Asahi Kasei Corp		456,132
36,800		Astellas Pharma, Inc		1,564,926
108,844		AstraZeneca plc		4,627,895
72,404	e	BASF AG.		4,990,179
6,583		Beiersdorf AG.		483,294
4,027		Christian Dior S.A.		413,664
7,961	e	Chugai Pharmaceutical Co Ltd		127,294
41,150		CSL Ltd		1,408,602
18,000		Daicel Chemical Industries Ltd		101,393
52,200		Daiichi Sankyo Co Ltd		1,438,026
44,000		Dainippon Ink and Chemicals, Inc		127,687
12,000	e	Dainippon Sumitomo Pharma Co Ltd		97,066
10,149	e	DSM NV		594,850
18,300	e	Eisai Co Ltd		646,428
35,060	*	Elan Corp plc		1,239,955
386		Eramet		381,506
483		Givaudan S.A.		430,551
408,640		GlaxoSmithKline plc		9,033,364
9,020		Grifols S.A.		287,288
9,630		Henkel KGaA		361,097
13,241		Henkel KGaA		526,172
4,600		Hisamitsu Pharmaceutical Co, Inc		200,306
4,519	e	Incitec Pivot Ltd		800,178
2,774		K+S AG.		1,597,157
14,000		Kansai Paint Co Ltd		96,943
39,000		Kao Corp		1,023,844
39,500		Kingboard Chemical Holdings Ltd		182,384
26,000		Kuraray Co Ltd		310,227
16,000		Kyowa Hakko Kogyo Co Ltd		164,044
9,931		Linde AG.		1,394,911
3,574	e	Lonza Group AG.		493,920
18,252	e	L'Oreal S.A.		1,979,723
10,900		Mediceo Paltac Holdings Co Ltd		200,727
95,500		Mitsubishi Chemical Holdings Corp		556,097
29,000		Mitsubishi Gas Chemical Co, Inc		208,917
10,000		Nissan Chemical Industries Ltd		123,057
173,206		Novartis AG.		9,531,901
34,294		Novo Nordisk AS (Class B)		2,257,590
3,294	e	Novozymes AS (B Shares)		296,548
7,200		Ono Pharmaceutical Co Ltd		397,092
6,507		Orion Oyj (Class B)		129,234
45,184		Reckitt Benckiser Group plc		2,282,169
52,468		Roche Holding AG.		9,432,291
76,502	e	Sanofi-Aventis		5,083,468
5,500		Santen Pharmaceutical Co Ltd		138,034
30,700		Shin-Etsu Chemical Co Ltd		1,905,091

316

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
22,000		Shionogi & Co Ltd	$	435,596
41,736		Shire Ltd		682,280
25,000	e	Shiseido Co Ltd		572,924
86,000		Showa Denko KK		228,320
4,568		Solvay S.A.		595,119
118,000		Sumitomo Chemical Co Ltd		743,409
7,767		Syngenta AG.		2,516,295
10,000		Taisho Pharmaceutical Co Ltd		186,033
20,000		Taiyo Nippon Sanso Corp		166,874
63,100		Takeda Pharmaceutical Co Ltd		3,209,233
16,000		Tanabe Seiyaku Co Ltd		209,144
16,000	e	Tokuyama Corp		119,230
99,000	e	Toray Industries, Inc		531,330
38,000		Tosoh Corp		155,585
75,000		UBE Industries Ltd		265,655
7,880		UCB S.A.		290,705
1,169		Wacker Chemie AG.		244,214
		TOTAL CHEMICALS AND ALLIED PRODUCTS		85,688,250
COMMUNICATIONS - 5.96%
12,551		Belgacom S.A.		538,459
85,132		British Sky Broadcasting plc		797,918
583,696		BT Group plc		2,312,435
185,216		Cable & Wireless plc		553,617
27,226		Carphone Warehouse Group plc		106,987
211,586		Deutsche Telekom AG.		3,467,938
9,824		Elisa Oyj		205,038
5,886		Eutelsat Communications		163,278
136,334	e	France Telecom S.A.		3,998,268
31		Fuji Television Network, Inc		46,792
6,151	e	Gestevision Telecinco S.A.		78,329
21,701		Hellenic Telecommunications Organization S.A.		546,675
1,600	e	Hikari Tsushin, Inc		52,782
124,000	*	Hutchison Telecommunications International Ltd		175,592
254,744		ITV plc		225,567
165		Jupiter Telecommunications Co		127,996
217		KDDI Corp		1,342,671
3,961	e	M6-Metropole Television		85,229
55,831	e	Mediaset S.p.A.		367,206
2,308	e	Mobistar S.A.		186,297
3,702	e	Modern Times Group AB (B Shares)		216,709
388		Nippon Telegraph & Telephone Corp		1,914,498
1,199		NTT DoCoMo, Inc		1,758,621
50,458	e	Portugal Telecom SGPS S.A.		570,705
16,617	e	PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		137,827
137,543		Royal KPN NV		2,351,545
22,557		SES Global S.A.		569,811
595,403		Singapore Telecommunications Ltd		1,587,186
7,602	e	Societe Television Francaise 1		126,551
1,675		Swisscom AG.		557,882
22,765	e	Tele2 AB (B Shares)		442,703
128,005	e	Telecom Corp of New Zealand Ltd		347,839
745,987	e	Telecom Italia S.p.A.		1,492,042
445,950	e	Telecom Italia S.p.A.		719,929

317

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
320,553		Telefonica S.A.	$	8,483,028
25,691		Telekom Austria AG.		556,690
62,654		Telenor ASA		1,176,150
19,000		Television Broadcasts Ltd		109,746
167,604	e	TeliaSonera AB		1,239,095
429,955	e	Telstra Corp Ltd		1,747,064
2,500		Tokyo Broadcasting System, Inc		47,487
86,976	e	Vivendi Universal S.A.		3,279,538
3,967,697		Vodafone Group plc		11,690,143
		TOTAL COMMUNICATIONS		56,501,863
DEPOSITORY INSTITUTIONS - 14.51%
22,000		77 Bank Ltd		138,340
26,838		Alliance & Leicester plc		156,631
63,850		Allied Irish Banks plc		983,985
28,747		Alpha Bank S.A.		870,272
55,206		Anglo Irish Bank Corp plc		514,935
45,000		Aozora Bank Ltd		102,937
143,501		Australia & New Zealand Banking Group Ltd		2,579,084
53,384	e	Banca Carige S.p.A.		187,755
574,291		Banca Intesa S.p.A.		3,264,751
68,467		Banca Intesa S.p.A.		352,798
159,748	e	Banca Monte dei Paschi di Siena S.p.A.		450,275
28,900	e	Banca Popolare di Milano		269,738
45,044	e	Banche Popolari Unite Scpa		1,052,480
265,275		Banco Bilbao Vizcaya Argentaria S.A.		5,054,483
20,359	e	Banco BPI S.A.		84,000
181,578	e	Banco Comercial Portugues S.A.		391,641
68,011	e	Banco de Sabadell S.A.		573,261
15,488	e	Banco Espirito Santo S.A.		240,902
47,637		Banco Popolare Scarl		841,569
61,601	e	Banco Popular Espanol S.A.		848,893
466,657		Banco Santander Central Hispano S.A.		8,513,722
104,424		Bank of East Asia Ltd		567,750
82,361		Bank of Ireland		710,383
23,000	e	Bank of Kyoto Ltd		240,409
94,000		Bank of Yokohama Ltd		650,035
19,451	e	Bankinter S.A.		220,612
105,403	v*	Barclays plc		19,945
490,205		Barclays plc		2,781,183
18,192	e	Bendigo Bank Ltd		190,639
60,854	e	BNP Paribas		5,477,884
273,500		BOC Hong Kong Holdings Ltd		724,974
57,000		Chiba Bank Ltd		400,240
12,000		Chugoku Bank Ltd		174,345
142,000		CITIC International Financial Holdings Ltd		108,676
46,580		Commerzbank AG.		1,383,788
98,347		Commonwealth Bank of Australia		3,792,205
66,342	e	Credit Agricole S.A.		1,346,769
33,835		Danske Bank AS		974,270
85,000		DBS Group Holdings Ltd		1,182,601
37,624		Deutsche Bank AG.		3,247,881
39,436	e	Dexia		627,893
54,463		DNB NOR Holding ASA		691,906

318

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
23,168		EFG Eurobank Ergasias S.A.	$	551,645
3,779	e	EFG International		102,845
14,169	e	Erste Bank der Oesterreichischen Sparkassen AG.		876,303
156,114		Fortis		2,479,780
56,000		Fukuoka Financial Group, Inc		253,150
30,000		Gunma Bank Ltd		199,998
32,000		Hachijuni Bank Ltd		207,621
57,100		Hang Seng Bank Ltd		1,205,615
35,000		Hiroshima Bank Ltd		156,056
85,000		Hokuhoku Financial Group, Inc		246,561
886,350		HSBC Holdings plc		13,647,701
142,538	e	ING Groep NV		4,506,712
29,608		Investec plc		180,279
18,000		Iyo Bank Ltd		210,755
52,000	e	Joyo Bank Ltd		253,240
15,819		Julius Baer Holding AG.		1,060,869
3,461	*	Jyske Bank		205,940
421,701		Lloyds TSB Group plc		2,587,260
36,163	e	Mediobanca S.p.A.		612,851
770,680		Mitsubishi UFJ Financial Group, Inc		6,810,840
59,000		Mitsui Trust Holdings, Inc		351,415
723		Mizuho Financial Group, Inc		3,363,999
112,000	e	Mizuho Trust & Banking Co Ltd		193,057
121,620		National Australia Bank Ltd		3,088,110
36,817		National Bank of Greece S.A.		1,657,014
31,684	e	Natixis		348,772
53,000		Nishi-Nippon City Bank Ltd		158,064
155,178		Nordea Bank AB		2,126,329
9,565		OKO Bank (Class A)		165,123
184,520		Oversea-Chinese Banking Corp		1,111,411
24,057		Piraeus Bank S.A.		654,742
3,940		Raiffeisen International Bank Holding AG.		500,582
379	e	Resona Holdings, Inc		582,118
1,178,618		Royal Bank of Scotland Group plc		5,017,567
22		Sapporo Hokuyo Holdings, Inc		148,866
74,000	e	Shinsei Bank Ltd		253,682
45,000		Shizuoka Bank Ltd		459,883
34,459	e	Skandinaviska Enskilda Banken AB (Class A)		635,736
34,773	e	Societe Generale		3,014,782
41,618	e	St George Bank Ltd		1,082,909
105,288		Standard Chartered plc		2,981,718
491		Sumitomo Mitsui Financial Group, Inc		3,692,419
106,000		Sumitomo Trust & Banking Co Ltd		740,529
17,000		Suruga Bank Ltd		221,336
35,684		Svenska Handelsbanken (A Shares)		845,368
26,800	e	Swedbank AB (A Shares)		514,936
5,270		Sydbank AS		200,291
221,185	*	UBS A.G.		4,609,106
7	v*	UBS AG.		7
845,637		UniCredito Italiano S.p.A		5,143,874
90,000		United Overseas Bank Ltd		1,235,546
140,445		Westpac Banking Corp		2,697,517
12,500		Wing Hang Bank Ltd		165,541
6,500		Wing Lung Bank		127,679

319

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
16,000		Yamaguchi Financial Group, Inc	$	221,456
		TOTAL DEPOSITORY INSTITUTIONS		137,654,345
EATING AND DRINKING PLACES - 0.25%
6,306	e	Autogrill S.p.A.		75,398
137,954		Compass Group plc		1,037,688
36,422		Enterprise Inns plc		293,108
26,961		Mitchells & Butlers plc		109,487
17,806		Punch Taverns plc		110,662
7,108		Sodexho Alliance S.A.		465,002
13,137		Whitbread plc		320,363
		TOTAL EATING AND DRINKING PLACES		2,411,708
EDUCATIONAL SERVICES - 0.02%
5,600		Benesse Corp		226,805
		TOTAL EDUCATIONAL SERVICES		226,805
ELECTRIC, GAS, AND SANITARY SERVICES - 6.15%
92,347		A2A S.p.A.		337,171
32,381	e	AGL Energy Ltd		443,565
77,159		British Energy Group plc		1,085,481
8,655	e	Caltex Australia Ltd		108,143
274,780		Centrica plc		1,690,043
48,500		Chubu Electric Power Co, Inc		1,184,658
20,700		Chugoku Electric Power Co, Inc		441,706
153,500		CLP Holdings Ltd		1,316,384
21,796		Contact Energy Ltd		132,652
47,334	e	E.ON AG.		9,539,882
10,600		Electric Power Development Co		393,538
14,978	e	Electricite de France		1,418,877
13,206	e	Enagas		372,778
323,022		Enel S.p.A.		3,064,314
135,097	e	Energias de Portugal S.A.		702,491
33,102		Fortum Oyj		1,675,472
7,930		Gas Natural SDG S.A.		460,503
14,456	e*	Gaz de France		925,594
14,200		Hokkaido Electric Power Co, Inc		289,189
13,100	e	Hokuriku Electric Power Co		311,539
293,110		Hong Kong & China Gas Ltd		697,475
104,000		Hong Kong Electric Holdings Ltd		622,302
60,512	e*	Iberdrola Renovables		466,195
260,833	e	Iberdrola S.A.		3,475,283
112,255		International Power plc		961,660
57,500		Kansai Electric Power Co, Inc		1,347,072
28,200		Kyushu Electric Power Co, Inc		590,078
188,616		National Grid plc		2,472,443
5,769		Oest Elektrizitatswirts AG. (Class A)		515,138
150,000		Osaka Gas Co Ltd		550,244
475		Puma AG. Rudolf Dassler Sport		159,072
8,027		Red Electrica de Espana		521,055
2,819		RWE AG.		283,581
33,222		RWE AG.		4,194,471
64,663		Scottish & Southern Energy plc		1,801,702
17,511		Severn Trent plc		445,601

320

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
13,900	e	Shikoku Electric Power Co, Inc	$	382,199
61,276	e	Snam Rete Gas S.p.A.		417,683
92,100		Sojitz Holdings Corp		307,232
78,121	e	Suez S.A.		5,295,620
38,000	e	Toho Gas Co Ltd		208,377
31,200		Tohoku Electric Power Co, Inc		679,583
90,900		Tokyo Electric Power Co, Inc		2,340,528
174,000		Tokyo Gas Co Ltd		703,044
9,038	e*	Union Fenosa S.A.		525,219
65,847	*	United Utilities plc		896,052
28,107	e	Veolia Environnement		1,569,133
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		58,322,022
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 4.50%
163,817		ABB Ltd		4,636,978
11,300	e	Advantest Corp		238,182
172,714	e	Alcatel S.A.		1,042,646
11,000	e	Alps Electric Co Ltd		113,775
221,467	e	Ericsson (LM) (B Shares)		2,302,916
150,000	e*	Foxconn International Holdings Ltd		145,539
40,000	e	Fuji Electric Holdings Co Ltd		141,429
13,539		Gamesa Corp Tecnologica S.A.		662,825
2,300	e	Hirose Electric Co Ltd		231,100
7,000		Hitachi Chemical Co Ltd		144,465
5,600		Hitachi High-Technologies Corp		129,942
252,000		Hitachi Ltd		1,814,772
30,900		Hoya Corp		715,711
10,100		Ibiden Co Ltd		367,802
55,938	*	Infineon Technologies AG.		485,516
81,144		Koninklijke Philips Electronics NV		2,747,969
12,200		Kyocera Corp		1,150,867
6,808	e	Legrand S.A.		171,313
2,300	e	Mabuchi Motor Co Ltd		124,912
138,000		Matsushita Electric Industrial Co Ltd		2,952,341
27,000		Matsushita Electric Works Ltd		275,520
5,250		Millicom International Cellular S.A.		540,461
24,000		Minebea Co Ltd		137,252
144,000		Mitsubishi Electric Corp		1,557,485
6,200	e	Mitsumi Electric Co Ltd		138,229
16,000		Murata Manufacturing Co Ltd		754,857
2,000	e*	NEC Electronics Corp		49,978
12,000	e	NGK Spark Plug Co Ltd		138,124
8,200		Nidec Corp		546,196
12,300		Nitto Denko Corp		472,817
297,264		Nokia Oyj		7,265,987
15,800		Omron Corp		341,010
9,600	e	Pioneer Corp		77,229
4,516	e*	Q-Cells AG.		457,475
12,058	e*	Renewable Energy Corp AS		311,318
49,000		Ricoh Co Ltd		886,867
7,600		Rohm Co Ltd		438,818
126,000	e*	Sanyo Electric Co Ltd		292,943
75,000	e	Sharp Corp		1,222,595
4,500	e	Shinko Electric Industries		55,686

321

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
28,972		Smiths Group plc	$	624,254
75,000		Sony Corp		3,287,524
10,900		Stanley Electric Co Ltd		264,257
49,692	e	STMicroelectronics NV		514,094
9,600	e	Sumco Corp		212,697
9,000		TDK Corp		538,543
88,292	e	Terna Rete Elettrica Nazionale S.p.A.		373,097
4,300		Toyota Boshoku Corp		115,305
8,900		Ushio, Inc		145,742
16,000		Venture Corp Ltd		115,775
18,000		Yaskawa Electric Corp		176,640
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		42,649,775
ENGINEERING AND MANAGEMENT SERVICES - 0.33%
10,300		Cap Gemini S.A.		603,861
45,610		Capita Group plc		622,185
4,355		Fugro NV		370,835
17,000		JGC Corp		334,758
73,460		SembCorp Industries Ltd		225,502
34,350		Serco Group plc		304,819
3,792		Strabag SE		294,613
11,222	e	WorleyParsons Ltd		406,612
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,163,185
FABRICATED METAL PRODUCTS - 0.25%
61,075		Amcor Ltd		295,877
2,955		Geberit AG.		433,850
13,000	e	Hitachi Metals Ltd		213,442
18,800		JS Group Corp		299,330
45,618		Rexam plc		350,442
13,487		Ssab Svenskt Stal AB (Series A)		432,545
5,881		Ssab Svenskt Stal AB (Series B)		166,187
11,600		Toyo Seikan Kaisha Ltd		204,783
		TOTAL FABRICATED METAL PRODUCTS		2,396,456
FOOD AND KINDRED PRODUCTS - 3.74%
50,000		Ajinomoto Co, Inc		473,697
30,000	e	Asahi Breweries Ltd		560,805
26,546		Associated British Foods plc		399,861
100,786		Cadbury plc		1,264,215
239		Carlsberg AS (Class A)		23,021
7,938	e	Carlsberg AS (Class B)		764,665
11,858		Coca Cola Hellenic Bottling Co S.A.		322,622
40,533		Coca-Cola Amatil Ltd		272,393
3,700	e	Coca-Cola West Japan Co Ltd		86,349
73,722	e	CSR Ltd		172,929
191,753		Diageo plc		3,513,163
355,000		Golden Agri-Resources Ltd		234,335
32,522		Groupe Danone		2,275,696
17,896	e	Heineken NV		911,329
13,444		InBev NV		929,531
5,000	e	Ito En Ltd		78,762
83,983		J Sainsbury plc		530,170
23,000		Kaneka Corp		156,674

322

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
10,108		Kerry Group plc (Class A)	$	298,360
58,000		Kirin Brewery Co Ltd		906,963
61	e	Lindt & Spruengli AG.		168,102
21,307	e	Lion Nathan Ltd		174,541
21,000	e	Meiji Dairies Corp		107,754
293,520		Nestle S.A.		13,227,383
13,000	e	Nippon Meat Packers, Inc		176,155
16,000	e	Nisshin Seifun Group, Inc		201,105
6,400	e	Nissin Food Products Co Ltd		214,582
84,700	e	Olam International Ltd		151,088
122,741	e	Parmalat S.p.A.		319,295
12,765	e	Pernod-Ricard S.A.		1,302,602
32,172		Sampo Oyj (A Shares)		808,181
17,000		Sapporo Holdings Ltd		119,021
60,000		Swire Pacific Ltd (Class A)		614,150
33,000		Tate & Lyle plc		260,040
7,000		Toyo Suisan Kaisha Ltd		158,428
97,001		Unilever plc		2,755,999
57,000	e	Wilmar International Ltd		211,802
7,200	e	Yakult Honsha Co Ltd		202,826
7,000	e	Yamazaki Baking Co Ltd		77,036
		TOTAL FOOD AND KINDRED PRODUCTS		35,425,630
FOOD STORES - 1.53%
47,295	e	Carrefour S.A.		2,665,913
1,166	*	Colruyt S.A.		307,358
7,213		Delhaize Group		483,114
3,900		FamilyMart Co Ltd		159,636
98,323		Goodman Fielder Ltd		132,478
4,813		Kesko Oyj (B Shares)		154,869
88,902		Koninklijke Ahold NV		1,191,783
5,100	e	Lawson, Inc		248,472
60,200		Seven & I Holdings Co Ltd		1,723,712
50,146		Sonae SPGS S.A.		60,074
586,635		Tesco plc		4,290,855
180,114		WM Morrison Supermarkets plc		949,504
90,614		Woolworths Ltd		2,123,522
		TOTAL FOOD STORES		14,491,290
FURNITURE AND FIXTURES - 0.03%
2,252	e	Neopost S.A.		237,427
		TOTAL FURNITURE AND FIXTURES		237,427
FURNITURE AND HOME FURNISHINGS STORES - 0.07%
32,999	e	Harvey Norman Holdings Ltd		97,658
2,950		Nitori Co Ltd		151,543
6,440	e	Yamada Denki Co Ltd		458,838
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		708,039
GENERAL BUILDING CONTRACTORS - 0.79%
24,606	e	Amec plc		433,591
34,801		Balfour Beatty plc		292,758
5,494		Berkeley Group Holdings plc		74,179
2,733		Bilfinger Berger AG.		236,988

323

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
30,000		Cheung Kong Infrastructure Holdings Ltd	$	127,116
5,700		Daito Trust Construction Co Ltd		276,456
38,000		Daiwa House Industry Co Ltd		357,722
2,562	e	Eiffage S.A.		174,972
36,433		Fletcher Building Ltd		176,224
86,500		Haseko Corp		115,743
2,991		Hochtief AG.		303,389
2,174	e	Imerys S.A.		156,986
61,000	e	Kajima Corp		213,409
26,900	e	Lend Lease Corp Ltd		246,466
43,000	e	Obayashi Corp		194,888
22,134	e	Persimmon plc		138,538
6,322	e	Sacyr Vallehermoso S.A.		192,994
32,000		Sekisui Chemical Co Ltd		218,237
39,000	e	Sekisui House Ltd		364,622
42,000	e	Shimizu Corp		199,017
27,765		Skanska AB (B Shares)		395,993
65,000		Taisei Corp		155,047
73,078		Taylor Woodrow plc		89,521
4,278		Titan Cement Co S.A.		169,886
31,386	e	Vinci S.A.		1,916,550
8,999		YIT Oyj		224,713
		TOTAL GENERAL BUILDING CONTRACTORS		7,446,005
GENERAL MERCHANDISE STORES - 0.44%
46,600	e	Aeon Co Ltd		576,845
24,180		Isetan Mitsukoshi Holdings Ltd		258,913
30,400	e	J Front Retailing Co Ltd		160,947
39,000		Keio Corp		197,368
116,000	e	Kintetsu Corp		363,880
122,367		Marks & Spencer Group plc		795,700
20,400	e	Marui Co Ltd		158,821
5,619	e	PPR		620,295
21,000	e	Takashimaya Co Ltd		190,796
58,000	e	Tobu Railway Co Ltd		274,948
82,000		Tokyu Corp		425,484
12,000		UNY Co Ltd		118,294
		TOTAL GENERAL MERCHANDISE STORES		4,142,291
HEALTH SERVICES - 0.22%
1,728		Coloplast AS (Class B)		150,102
73,000		Fraser and Neave Ltd		243,544
14,178	e	Fresenius Medical Care AG.		781,165
13,514	e	Getinge AB (B Shares)		329,486
62,550	e	Parkway Holdings Ltd		106,725
23,772		Sonic Healthcare Ltd		331,955
505		Straumann Holding AG.		120,719
		TOTAL HEALTH SERVICES		2,063,696
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.34%
20,814	e	Abertis Infraestructuras S.A.		492,433
15,391	e	ACS Actividades Cons y Servicios S.A.		770,147
18,130	e	Bouygues S.A.		1,196,158
3,288	e	Fomento de Construcciones y Contratas S.A.		194,529

324

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
4,422	e	Grupo Ferrovial S.A.	$	272,422
76,176	e	Transurban Group		309,684
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		3,235,373
HOLDING AND OTHER INVESTMENT OFFICES - 4.27%
28,512		3i Group plc		466,405
60,000	e	CapitaCommercial Trust		84,369
81,700	e	CapitaMall Trust		180,200
111,007	e	CFS Gandel Retail Trust		196,950
1,878		Eurazeo		199,838
156,823		GPT Group		334,166
6,005		Groupe Bruxelles Lambert S.A.		711,996
8,102		Heineken Holding NV		370,830
30,953	*	Immoeast AG.		273,731
448,000	e	iShares MSCI EAFE Index Fund		30,777,600
5,461	*	Istituto Finanziario Industriale S.p.A.		108,234
2,500	e	Jafco Co Ltd		85,595
41	e	Japan Prime Realty Investment Corp		121,305
31		Japan Real Estate Investment Corp		327,421
26		Japan Retail Fund Investment Corp		149,911
39,000		JFE Holdings, Inc		1,966,309
2,301		KBC Ancora		200,365
34,721		Land Securities Group plc		847,301
174,181	e	Macquarie Infrastructure Group		387,555
150,726	e	Macquarie Office Trust		112,466
47,970		Marfin Investment Group S.A		379,513
2,937	e	Nationale A Portefeuille		219,251
38		Nippon Building Fund, Inc		448,120
8,846		Nobel Biocare Holding AG.		287,620
116,400		Noble Group Ltd		203,735
18	e	Nomura Real Estate Office Fund, Inc		135,563
74		NTT Urban Development Corp		97,013
57,000		NWS Holdings Ltd		148,847
2,062	e	Wendel		208,767
102,875		Wharf Holdings Ltd		430,699
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		40,461,675
HOTELS AND OTHER LODGING PLACES - 0.23%
14,584	e	Accor S.A.		968,812
31,976		Crown Ltd		284,438
20,671		Intercontinental Hotels Group plc		275,507
94,947		Shangri-La Asia Ltd		222,466
32,824		Thomas Cook Group plc		152,178
41,708		TUI Travel plc		169,491
34,000		United Overseas Land Ltd		84,844
		TOTAL HOTELS AND OTHER LODGING PLACES		2,157,736
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.32%
28,368	e	Alfa Laval AB		438,269
7,898	e	Alstom RGPT		1,811,055
25,000		Amada Co Ltd		197,774
2,905		Andritz AG.		182,214
12,700	e	ASM Pacific Technology		95,987
32,233	e	ASML Holding NV		788,945

325

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
50,170	e	Atlas Copco AB (A Shares)	$	733,754
28,244		Atlas Copco AB (B Shares)		373,525
103,903		Brambles Ltd		869,658
17,600		Brother Industries Ltd		242,666
79,700	e	Canon, Inc		4,102,629
3,055		Cargotec Corp (B Shares)		105,695
16,700		Casio Computer Co Ltd		190,020
23,400	e	Citizen Watch Co Ltd		178,516
19,800		Daikin Industries Ltd		1,001,144
17,700	e	Electrolux AB (Series B)		224,910
14,300		Fanuc Ltd		1,398,501
36,600		FUJIFILM Holdings Corp		1,260,705
11,244		GEA Group AG.		396,994
7,800		Hitachi Construction Machinery Co Ltd		218,680
20,289	e	Husqvarna AB (B Shares)		176,481
22,476		IMI plc		194,096
90,000		Ishikawajima-Harima Heavy Industries Co Ltd		182,304
2,000		Itochu Techno-Science Corp		64,992
27,000	e	Japan Steel Works Ltd		525,145
67,200		Komatsu Ltd		1,876,635
11,370		Kone Oyj (Class B)		397,447
35,000		Konica Minolta Holdings, Inc		592,848
82,000		Kubota Corp		589,325
8,500		Kurita Water Industries Ltd		315,381
12,864	*	Logitech International S.A.		343,906
9,100		Makita Corp		372,416
47,150		Meggitt plc		198,906
239,000		Mitsubishi Heavy Industries Ltd		1,141,530
32,000	e	NTN Corp		213,377
10,000	e	Okuma Holdings, Inc		99,554
2,677		Rheinmetall AG.		193,239
13,984	e	Safran S.A.		269,712
75,335	e	Sandvik AB		1,023,540
3,618		Schindler Holding AG.		268,744
9,200		Seiko Epson Corp		252,851
29,142	e	SKF AB (B Shares)		454,183
4,300		SMC Corp		471,951
6,075	e	Solarworld AG.		289,094
2,087		Sulzer AG.		263,669
41,000		Sumitomo Heavy Industries Ltd		278,079
8,800	e	THK Co Ltd		171,235
12,800		Tokyo Electron Ltd		738,150
230,000	e	Toshiba Corp		1,696,833
15,000		Toyota Tsusho Corp		352,070
525	*	Unaxis Holding AG.		144,868
13,835	*	Vestas Wind Systems AS		1,801,274
6,237		Wartsila Oyj (B Shares)		389,454
17,000	e	Yokogawa Electric Corp		155,749
8,230	e	Zardoya Otis S.A.		170,336
8,230	e*	Zardoya Otis S.A.		16,975
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		31,497,990
INSTRUMENTS AND RELATED PRODUCTS - 0.88%
3,956		Cochlear Ltd		166,153

326

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
14,943	e	Compagnie Generale d'Optique Essilor International S.A.	$	911,511
21,804	e	Finmeccanica S.p.A.		570,086
2,008		Fresenius SE		173,860
57,923	*	Invensys plc		299,288
2,800		Keyence Corp		667,445
9,740	e	Luxottica Group S.p.A.		227,310
26,000	e	Nikon Corp		761,104
25,000		Nippon Electric Glass Co Ltd		434,550
17,000	e	Olympus Corp		576,321
267,000		PCCW Ltd		161,705
3,351	e	Phonak Holding AG.		276,558
19,000		Shimadzu Corp		189,454
65,200		Smith & Nephew plc		715,341
2,490	e	Swatch Group AG.		619,156
3,511	e	Swatch Group AG.		163,778
4,420		Synthes, Inc		607,937
12,300		Terumo Corp		629,352
4,100	e*	TomTom NV		117,129
1,803	e*	William Demant Holding		118,411
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		8,386,449
INSURANCE AGENTS, BROKERS AND SERVICE - 0.43%
111,569	*	HBOS plc		23,890
278,924		HBOS plc		1,527,067
66,232		QBE Insurance Group Ltd		1,424,060
69,492		Suncorp-Metway Ltd		870,810
47,484	e	Unipol Gruppo Finanziario S.p.A.		111,563
60,162		Unipol S.p.A.		115,598
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		4,072,988
INSURANCE CARRIERS - 4.14%
103,803		Aegon NV		1,364,667
34,000		Aioi Insurance Co Ltd		181,515
29,838	e	Alleanza Assicurazioni S.p.A		322,746
33,619		Allianz AG.		5,913,685
140,014		AMP Ltd		896,530
78,789	e	Assicurazioni Generali S.p.A.		3,011,189
195,863		Aviva plc		1,941,819
60,062		AXA Asia Pacific Holdings Ltd		269,299
115,413	e	AXA S.A.		3,400,740
3,801		Baloise Holding AG.		398,664
3,154	e	CNP Assurances		355,602
49,542		Corp Mapfre S.A.		236,494
4,788		Fondiaria-Sai S.p.A		157,792
172,359		Friends Provident plc		348,535
4,453		Hannover Rueckversicherung AG.		219,346
138,274	e	Insurance Australia Group Ltd		460,758
18,660		Irish Life & Permanent plc		192,012
11,909		KBC Groep NV		1,316,435
24,461	e	Mediolanum S.p.A.		101,292
52,400		Millea Holdings, Inc		2,042,296
27,100		Mitsui Sumitomo Insurance Group Holdings, Inc		936,620
15,457		Muenchener Rueckver AG.		2,711,059
50,000	e	Nipponkoa Insurance Co Ltd		434,244

327

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
376,537		Old Mutual plc	$	691,226
184,425		Prudential plc		1,945,281
242,984		Royal & Sun Alliance Insurance Group plc		604,926
12,530		SCOR		285,307
9,017		SNS Reaal		174,220
63,000		Sompo Japan Insurance, Inc		592,358
64		Sony Financial Holdings, Inc		257,659
162,106		Standard Life plc		673,930
28,079		Storebrand ASA		207,919
2,542		Swiss Life Holding		676,221
26,212		Swiss Reinsurance Co		1,737,640
14,700		T&D Holdings, Inc		906,703
1,226	e*	Topdanmark AS		184,476
1,826	e	TrygVesta A.S.		128,884
2,855		Wiener Staedtische Allgemeine Versicherung AG.		188,128
10,863		Zurich Financial Services AG.		2,768,486
		TOTAL INSURANCE CARRIERS		39,236,703
LEATHER AND LEATHER PRODUCTS - 0.49%
15,145	e	Adidas-Salomon AG.		953,722
18,264		LVMH Moet Hennessy Louis Vuitton S.A.		1,905,239
26,895		ThyssenKrupp AG.		1,687,244
49,500	e	Yue Yuen Industrial Holdings		117,604
		TOTAL LEATHER AND LEATHER PRODUCTS		4,663,809
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.10%
22,348	e	Brisa-Auto Estradas de Portugal S.A.		257,467
140,000		ComfortDelgro Corp Ltd		154,766
30,000	e	Keihin Electric Express Railway Co Ltd		185,948
18,000		Keisei Electric Railway Co Ltd		92,139
40,016		Stagecoach Group plc		221,953
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		912,273
METAL MINING - 4.76%
80,322	e	Alumina Ltd		364,624
98,724		Anglo American plc		6,933,803
29,532		Antofagasta plc		383,999
250,739		BHP Billiton Ltd		10,671,517
164,804		BHP Billiton plc		6,320,280
21,775	e	Boliden AB		175,814
23,997	*	Eurasian Natural Resources Corp		632,269
15,246		Kazakhmys plc		480,707
11,640		Lonmin plc		734,559
33,861		Newcrest Mining Ltd		939,742
23,543		Orica Ltd		660,793
100,838	e	Oxiana Ltd		252,533
110,292	*	Oxiana Ltd		275,959
41,161	e*	Paladin Resources Ltd		251,310
21,342	e	Rio Tinto Ltd		2,761,378
74,507		Rio Tinto plc		8,972,711
1,200	e	Sumitomo Titanium Corp		63,026
10,732		Vedanta Resources plc		463,473
47,449		Xstrata plc		3,779,831
		TOTAL METAL MINING		45,118,328

328

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.09%
9,109	e	Bulgari S.p.A.	$	91,570
13,600		Namco Bandai Holdings, Inc		154,212
3,700		Sankyo Co Ltd		241,082
1,944		Societe BIC S.A.		101,487
12,200		Yamaha Corp		235,915
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		824,266
MISCELLANEOUS RETAIL - 0.70%
38,966		Compagnie Financiere Richemont AG.		2,162,448
63,197		Home Retail Group		273,088
159,000		Hutchison Whampoa Ltd		1,603,403
44,000		Lifestyle International Holdings Ltd		61,970
22,136	e*	Meinl European Land Ltd		248,182
9,534		Metro AG.		608,217
14,613		Next plc		280,915
65,600		Nippon Mining Holdings, Inc		411,876
65,476		Origin Energy Ltd		1,013,016
		TOTAL MISCELLANEOUS RETAIL		6,663,115
MOTION PICTURES - 0.02%
8,500	e	Toho Co Ltd		173,725
		TOTAL MOTION PICTURES		173,725
NONDEPOSITORY INSTITUTIONS - 0.44%
4,570	e	Acom Co Ltd		141,453
5,600		Aeon Credit Service Co Ltd		70,175
4,750	e	Aiful Corp		54,949
11,500		Credit Saison Co Ltd		241,232
62,372	e	Criteria Caixacorp S.A.		372,184
6,096	e	Deutsche Postbank AG.		535,923
6,991	e,m	Hypo Real Estate Holding AG.		196,704
38,722		ICAP plc		414,763
34,000		Investor AB (B Shares)		713,810
26,000		Mitsubishi UFJ Nicos Co Ltd		86,015
6,880		ORIX Corp		985,401
2,784	e	Perpetual Trustees Australia Ltd		114,130
5,050		Promise Co Ltd		141,192
7,330	e	Takefuji Corp		102,072
		TOTAL NONDEPOSITORY INSTITUTIONS		4,170,003
OIL AND GAS EXTRACTION - 1.82%
14,506	e	Acergy S.A.		323,224
12,225	e	Aker Kvaerner ASA		288,060
249,851		BG Group plc		6,493,034
105,890		Boart Longyear Group		226,420
9,774	*	Cairn Energy plc		627,300
9,736	*	Compagnie Generale de Geophysique S.A.		459,666
1,700		Idemitsu Kosan Co Ltd		151,187
62		Inpex Holdings, Inc		782,957
2,000	e	Japan Petroleum Exploration Co		142,788
16,374	*	Lundin Petroleum AB		240,947
9,088	e	Neste Oil Oyj		266,367

329

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
12,732	e*	Petroleum Geo-Services ASA	$	311,788
19,793		Saipem S.p.A.		925,077
43,834		Santos Ltd		902,870
10,710	e	SBM Offshore NV		394,081
20,903	e	SeaDrill Ltd		638,024
7,617	e	Technip S.A.		702,891
53,778		Tullow Oil plc		1,021,944
36,021		Woodside Petroleum Ltd		2,328,255
		TOTAL OIL AND GAS EXTRACTION		17,226,880
PAPER AND ALLIED PRODUCTS - 0.33%
3,169	e	Holmen AB (B Shares)		92,650
26,600		Lee & Man Paper Manufacturing Ltd		39,686
9,478		Metso Oyj		428,982
27,185		Mondi plc		159,562
65		Nippon Paper Group, Inc		177,824
60,000	e	OJI Paper Co Ltd		282,168
11,974		Smurfit Kappa Group plc		97,613
42,987		Stora Enso Oyj (R Shares)		400,495
40,769		Svenska Cellulosa AB (B Shares)		573,647
2,900		Uni-Charm Corp		206,288
38,273		UPM-Kymmene Oyj		623,616
		TOTAL PAPER AND ALLIED PRODUCTS		3,082,531
PERSONAL SERVICES - 0.03%
124,603		Rentokil Initial plc		245,427
		TOTAL PERSONAL SERVICES		245,427
PETROLEUM AND COAL PRODUCTS - 6.72%
1,410,037		BP plc		16,343,258
41,000		Cosmo Oil Co Ltd		148,549
194,416		ENI S.p.A.		7,222,607
8,966		Hellenic Petroleum S.A.		123,224
12,344		OMV AG.		964,438
54,633	e	Repsol YPF S.A.		2,144,036
265,975		Royal Dutch Shell plc (A Shares)		10,902,781
206,156		Royal Dutch Shell plc (B Shares)		8,255,186
13,900		Showa Shell Sekiyu KK		152,603
95,750	e	Statoil ASA		3,572,406
21,000	e	TonenGeneral Sekiyu KK		190,768
161,041	e	Total S.A.		13,707,540
		TOTAL PETROLEUM AND COAL PRODUCTS		63,727,396
PRIMARY METAL INDUSTRIES - 2.01%
10,805	e	Acerinox S.A.		247,921
64,932	*	Arcelor		6,381,170
55,500		BlueScope Steel Ltd		603,055
21,000		Daido Steel Co Ltd		117,504
19,000		DOWA HOLDINGS CO Ltd		138,796
8,000	m,v	Dowa Mining		75
50,000		Furukawa Electric Co Ltd		217,635
15,667		Johnson Matthey plc		573,294
194,000		Kobe Steel Ltd		555,544
2,800		Maruichi Steel Tube Ltd		87,620

330

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
86,000		Mitsubishi Materials Corp	$	367,768
53,000		Mitsui Mining & Smelting Co Ltd		156,501
381,000	e	Nippon Steel Corp		2,064,880
54,000	e	Nisshin Steel Co Ltd		183,816
52,115	e	Norsk Hydro ASA		759,911
62,221		OneSteel Ltd		443,515
8,779		Outokumpu Oyj		305,072
2,982		Salzgitter AG.		546,264
55,600		Sumitomo Electric Industries Ltd		706,094
287,000		Sumitomo Metal Industries Ltd		1,263,606
40,000		Sumitomo Metal Mining Co Ltd		611,852
1,500	e	Toho Titanium Co Ltd		29,414
7,200		Tokyo Steel Manufacturing Co Ltd		83,392
9,275		Umicore		456,177
3,961	e	Vallourec		1,385,278
8,380		Voestalpine AG.		685,778
2,800		Yamato Kogyo Co Ltd		133,711
		TOTAL PRIMARY METAL INDUSTRIES		19,105,643
PRINTING AND PUBLISHING - 0.69%
44,000		Dai Nippon Printing Co Ltd		647,774
19,110		Daily Mail & General Trust		118,724
101,635	e	John Fairfax Holdings Ltd		285,519
61,736	e	Orkla ASA		791,051
9,238	e	PagesJaunes Groupe S.A.		135,118
60,284		Pearson plc		734,627
6,258	e	Promotora de Informaciones S.A.		66,712
46,531		Reed Elsevier NV		778,733
82,268		Reed Elsevier plc		937,491
5,887	e	Sanoma-WSOY Oyj		130,241
113,000		Singapore Press Holdings Ltd		353,318
15,129	*	Thomson Reuters plc		403,496
39,000		Toppan Printing Co Ltd		429,605
16,044	*	United Business Media plc		173,065
22,102		Wolters Kluwer NV		514,442
		TOTAL PRINTING AND PUBLISHING		6,499,916
RAILROAD TRANSPORTATION - 0.57%
41,784	e	Asciano Group		138,987
115		Central Japan Railway Co		1,267,583
254		East Japan Railway Co		2,068,907
35,917		Firstgroup plc		370,390
90,000		Hankyu Hanshin Holdings, Inc		378,183
105,111		MTR Corp		331,149
44,000	e	Odakyu Electric Railway Co Ltd		285,986
125		West Japan Railway Co		613,533
		TOTAL RAILROAD TRANSPORTATION		5,454,718
REAL ESTATE - 2.14%
4,400	e	Aeon Mall Co Ltd		130,158
74,275		Ascendas Real Estate Investment Trust		120,427
36,769		British Land Co plc		517,066
127,000		CapitaLand Ltd		533,665
103,000		Cheung Kong Holdings Ltd		1,392,870

331

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
69,680		Chinese Estates Holdings Ltd	$	107,353
36,400		City Developments Ltd		291,361
3,236		Corio NV		252,050
219,775	e	DB RREEF Trust		290,945
1,144		Gecina S.A.		138,261
216,000	e*	Genting International plc		92,191
21,532		Hammerson plc		381,385
65,000		Hang Lung Group Ltd		289,902
151,000		Hang Lung Properties Ltd		484,765
78,344		Henderson Land Development Co Ltd		489,826
47,000		Hopewell Holdings		167,072
40,384		Hysan Development Co Ltd		111,130
1,458	e	ICADE		170,036
33,886		IMMOFINANZ Immobilien Anlagen AG.		348,891
6,129		IVG Immobilien AG.		120,720
24,000	e	Keppel Land Ltd		87,658
47,623		Kerry Properties Ltd		250,454
4,932	e	Klepierre		247,257
10,364		Leighton Holdings Ltd		504,671
8,600		Leopalace21 Corp		123,369
18,867	e	Liberty International plc		322,002
159,701		Link Real Estate Investment Trust		363,886
115,227	e	Macquarie Goodman Group		341,355
72,567		Mirvac Group		206,093
88,000		Mitsubishi Estate Co Ltd		2,014,726
63,000		Mitsui Fudosan Co Ltd		1,348,388
253,000	*	Mongolia Energy Co ltd		488,889
180,694		New World Development Ltd		369,082
5,000		Nomura Real Estate Holdings, Inc		105,647
30,621		Segro plc		239,433
127,448		Sino Land Co		253,639
109,810		Stockland Trust Group		567,804
29,000		Sumitomo Realty & Development Co Ltd		576,899
106,000		Sun Hung Kai Properties Ltd		1,440,970
22,000	e	Tokyo Tatemono Co Ltd		142,486
34,000		Tokyu Land Corp		193,603
6,099	e	Unibail		1,404,459
131,197	e	Westfield Group		2,050,033
68,000	e	Wheelock & Co Ltd		182,711
28,000	e	Yanlord Land Group Ltd		38,266
		TOTAL REAL ESTATE		20,293,854
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.75%
57,088		Bayer AG.		4,803,280
44,600	e	Bridgestone Corp		684,207
30,000		Denki Kagaku Kogyo KK		111,253
10,513	e	Michelin (C.G.D.E.) (Class B)		751,742
45,000	e	Mitsui Chemicals, Inc		222,219
7,902	e	Nokian Renkaat Oyj		374,807
185,813	e	Pirelli & C S.p.A.		127,481
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		7,074,989
SECURITY AND COMMODITY BROKERS - 1.50%
12,511	e	Australian Stock Exchange Ltd		376,704

332

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
17,147	e	Babcock & Brown Ltd	$	123,108
78,063		Credit Suisse Group		3,553,193
100,000		Daiwa Securities Group, Inc		919,579
14,935		Deutsche Boerse AG.		1,688,253
105	e	E*Trade Securities Co Ltd		82,009
76,000		Hong Kong Exchanges and Clearing Ltd		1,113,302
462,729		Legal & General Group plc		918,211
11,104	e	London Stock Exchange Group plc		171,450
20,519	e	Macquarie Group Ltd		955,270
128,087		Man Group plc		1,582,311
132,200		Nomura Holdings, Inc		1,957,665
834	e	SBI Holdings, Inc		182,533
9,137		Schroders plc		165,450
37,000		Shinko Securities Co Ltd		109,091
64,000	e	Singapore Exchange Ltd		326,476
		TOTAL SECURITY AND COMMODITY BROKERS		14,224,605
SPECIAL TRADE CONTRACTORS - 0.01%
10,000		Kinden Corp		100,952
		TOTAL SPECIAL TRADE CONTRACTORS		100,952
STONE, CLAY, AND GLASS PRODUCTS - 0.95%
76,000	e	Asahi Glass Co Ltd		920,127
43,687	e	Boral Ltd		236,655
18,808	e	Cimpor Cimentos de Portugal S.A.		126,116
20,783	e	Compagnie de Saint-Gobain		1,287,104
39,815		CRH plc		1,157,166
3,955		FLSmidth & Co AS		432,108
1,870		HeidelbergCement AG.		271,195
15,744		Holcim Ltd		1,272,619
4,355	e	Italcementi S.p.A.		72,046
7,634		Italcementi S.p.A.		88,572
34,994		James Hardie Industries NV		142,079
10,966	e	Lafarge S.A.		1,672,173
20,000		NGK Insulators Ltd		389,913
41,000		Nippon Sheet Glass Co Ltd		203,207
1,835	e	Pargesa Holding S.A.		203,453
70,000		Taiheiyo Cement Corp		140,644
20,000	e	Toto Ltd		140,915
6,282	e	Wienerberger AG.		262,666
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		9,018,758
TEXTILE MILL PRODUCTS - 0.02%
63,000	e	Teijin Ltd		216,167
		TOTAL TEXTILE MILL PRODUCTS		216,167
TOBACCO PRODUCTS - 0.91%
112,979		British American Tobacco plc		3,897,105
77,730		Imperial Tobacco Group plc		2,887,579
336		Japan Tobacco, Inc		1,432,991
19,733	e	Swedish Match AB		402,151
		TOTAL TOBACCO PRODUCTS		8,619,826

333

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
TRANSPORTATION BY AIR - 0.65%
2,415	e	Aeroports de Paris	$	225,347
10,554	e	Air France-KLM		251,742
48,000		All Nippon Airways Co Ltd		179,521
77,089		Auckland International Airport Ltd		114,613
38,975		British Airways plc		166,008
99,000	e	Cathay Pacific Airways Ltd		188,562
11,475	e	Continental AG.		1,181,108
16,170	e	Deutsche Lufthansa AG.		348,395
2,492		Fraport AG. Frankfurt Airport Services Worldwide		168,896
5,200		Hong Kong Aircraft Engineerg		80,198
37,363	e	Iberia Lineas Aereas de Espana		88,954
62,000		Japan Airlines Corp		130,223
51,383		Macquarie Airports		101,633
4,821		Merck KGaA		685,072
64,857		Qantas Airways Ltd		189,000
26,250	*	Ryanair Holdings plc		115,498
900	e*	Ryanair Holdings plc (ADR)		25,803
67,366		SABMiller plc		1,539,111
38,933		Singapore Airlines Ltd		421,381
		TOTAL TRANSPORTATION BY AIR		6,201,065
TRANSPORTATION EQUIPMENT - 5.01%
262,572		BAE Systems plc		2,304,690
24,843		Bayerische Motoren Werke AG.		1,193,621
3,736		Bayerische Motoren Werke AG.		148,409
84,898		Cobham plc		333,221
67,000	e	Cosco Corp Singapore Ltd		158,102
15,000	e	Daihatsu Motor Co Ltd		171,998
68,106		DaimlerChrysler AG.		4,224,327
1,054		DaimlerChrysler AG.		65,000
36,400		Denso Corp		1,253,666
23,855	e	European Aeronautic Defence and Space Co		449,461
52,809	e	Fiat S.p.A.		859,567
50,548		GKN plc		223,103
17,000		Hino Motors Ltd		105,585
123,200	e	Honda Motor Co Ltd		4,204,405
95,000		Isuzu Motors Ltd		457,473
10,009		Jardine Cycle & Carriage Ltd		125,441
13,300		JTEKT Corp		211,293
112,000	e	Kawasaki Heavy Industries Ltd		299,153
95,000		Keppel Corp Ltd		779,234
9,222	e	Lagardere S.C.A.		521,674
7,871		MAN AG.		872,771
65,000		Mazda Motor Corp		338,372
259,000	e*	Mitsubishi Motors Corp		471,454
53,000		Mitsui Engineering & Shipbuilding Co Ltd		168,088
12,000		NHK Spring Co Ltd		95,770
32,000		NSK Ltd		280,385
10,979	e	Peugeot S.A.		592,997
13,787	e	Renault S.A.		1,122,075
136,098		Rolls-Royce Group plc		919,859
26,104	e	Scania AB (B Shares)		355,411
62,600		SembCorp Marine Ltd		186,602
5,000	e	Shimano, Inc		251,342

334

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
64,888		Siemens AG.	$	7,193,482
99,000		Singapore Technologies Engineering Ltd		200,420
6,658		Thales S.A.		378,718
3,800		Tokai Rika Co Ltd		78,682
61,865		Tomkins plc		185,216
4,500		Toyoda Gosei Co Ltd		131,690
13,400		Toyota Industries Corp		430,233
202,100		Toyota Motor Corp		9,539,925
10,876	e	Volkswagen AG.		3,141,513
7,854		Volkswagen AG.		1,137,316
81,360		Volvo AB (B Shares)		990,725
14,800	e	Yamaha Motor Co Ltd		277,174
3,052	e	Zodiac S.A.		139,625
		TOTAL TRANSPORTATION EQUIPMENT		47,569,268
TRANSPORTATION SERVICES - 0.09%
6,781	e*	KarstadtQuelle AG.		78,939
8,556		National Express Group plc		161,400
45,751	e	Toll Holdings Ltd		264,740
15,939	e	TUI AG.		368,986
		TOTAL TRANSPORTATION SERVICES		874,065
TRUCKING AND WAREHOUSING - 0.40%
63,119		Deutsche Post AG.		1,647,980
13,978		DSV AS		333,461
19,000		Kamigumi Co Ltd		144,051
8,000		Mitsubishi Logistics Corp		87,625
57,000		Nippon Express Co Ltd		273,748
28,518		TNT NV		970,582
28,000		Yamato Transport Co Ltd		390,850
		TOTAL TRUCKING AND WAREHOUSING		3,848,297
WATER TRANSPORTATION - 0.56%
41		AP Moller - Maersk AS (Class A)		500,863
82		AP Moller - Maersk AS (Class B)		1,000,156
12,124		Carnival plc		384,922
1,932		Hamburger Hafen und Logistik AG.		150,066
45,000		Kawasaki Kisen Kaisha Ltd		422,894
4,006		Kuehne & Nagel International AG.		379,054
86,000		Mitsui OSK Lines Ltd		1,226,528
38,000	e	Neptune Orient Lines Ltd		90,381
83,000		Nippon Yusen Kabushiki Kaisha		799,440
14,300		Orient Overseas International Ltd		71,624
125,000		Pacific Basin Shipping Ltd		178,859
76,000		Shun TAK Holdings Ltd		71,239
		TOTAL WATER TRANSPORTATION		5,276,026
WHOLESALE TRADE-DURABLE GOODS - 1.85%
23,278	e	Assa Abloy AB (Class B)		334,925
24,233		Bunzl plc		314,756
4,600	e	Canon Marketing Japan, Inc		80,915
94,197	e*	Fortescue Metals Group Ltd		1,070,173
113,000		Itochu Corp		1,204,780
163,300		Li & Fung Ltd		492,751

335

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SHARES		COMPANY		VALUE
101,200		Mitsubishi Corp	$	3,334,610
129,000		Mitsui & Co Ltd		2,847,168
168,500		Nissan Motor Co Ltd		1,399,473
9,028		Prysmian S.p.A.		227,916
6,039	e	Rautaruukki Oyj		274,132
605		Rockwool International AS (B Shares)		77,456
16,423	e	Schneider Electric S.A.		1,766,756
11,449		Sims Group Ltd		457,821
84,000	e	Sumitomo Corp		1,103,614
5,496	e	Valeo S.A.		175,914
47,168		Wesfarmers Ltd		1,685,520
10,315		Wesfarmers Ltd		371,929
49,146		Wolseley plc		366,180
		TOTAL WHOLESALE TRADE-DURABLE GOODS		17,586,789
WHOLESALE TRADE-NONDURABLE GOODS - 0.85%
10,516	e	Billabong International Ltd		108,750
3,222	e	Casino Guichard Perrachon S.A.		363,857
6,280	e	Celesio AG.		226,824
3,482		Danisco AS		223,241
78,600		Esprit Holdings Ltd		818,423
142,832		Foster's Group Ltd		694,368
10,000		Kikkoman Corp		122,158
123,000		Marubeni Corp		1,025,941
52,475	e	Metcash Ltd		186,162
98,000		Nippon Oil Corp		660,258
5,300		Suzuken Co Ltd		195,777
121,761	e	Unilever NV		3,443,227
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		8,068,986
		TOTAL COMMON STOCKS		941,823,739
		(Cost $888,025,231)
PREFERRED STOCKS - 0.16%
COMMUNICATIONS - 0.01%
5,334	e	ProSiebenSat.1 Media AG.		53,324
		TOTAL COMMUNICATIONS		53,324
INSTRUMENTS AND RELATED PRODUCTS - 0.05%
5,771		Fresenius SE		498,610
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		498,610
TRANSPORTATION EQUIPMENT - 0.10%
6,517		Porsche AG.		1,003,479
		TOTAL TRANSPORTATION EQUIPMENT		1,003,479
		TOTAL PREFERRED STOCKS		1,555,413
		(Cost $1,457,616)

336

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
PRINCIPAL		ISSUER		VALUE
SHORT TERM INVESTMENTS - 17.29%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.30%
$      2,810,000		Federal Home Loan Bank Discount Notes, 0.000%, 07/01/08	$	2,810,000
				2,810,000
SHARES		COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 16.99%
161,150,115		State Street Navigator Securities Lending Prime Portfolio		161,150,115
				161,150,115
		TOTAL SHORT-TERM INVESTMENTS		163,960,115
		(Cost $163,960,115)
		TOTAL PORTFOLIO - 116.75%		1,107,339,267
		(Cost $1,053,442,962)
		OTHER ASSETS & LIABILITIES, NET - (16.75)%		(158,860,865	)
		NET ASSETS - 100.00%	$	948,478,402
		The following abbreviations are used in portfolio descriptions:
		ADR  -American Depositary Receipt
		plc -   Public Limited Company
	*	Non-income producing.
	e	All or a portion of these securities are out on loan.
	m	Indicates a security that has been deemed illiquid.
	v	Security valued at fair value.
		At June 30, 2008, the unrealized appreciation on investments was $53,896,305, consisting of
		gross unrealized appreciation of $125,033,507 and gross unrealized depreciation of $71,137,202.

337

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - International Equity Index Fund
SUMMARY OF MARKET VALUES BY COUNTRY
INTERNATIONAL EQUITY INDEX FUND (unaudited)
June 30, 2008
			% OF
			MARKET
COUNTRY	VALUE		VALUE
DOMESTIC
UNITED STATES OF AMERICA	$	194,737,715	17.59	%
TOTAL DOMESTIC		194,737,715	17.59
FOREIGN
AUSTRALIA		62,938,719	5.69
AUSTRIA		5,897,354	0.53
BELGIUM		9,342,480	0.84
CHINA		569,087	0.05
DENMARK		9,672,756	0.87
FINLAND		14,324,925	1.29
FRANCE		97,002,937	8.76
GERMANY		83,414,691	7.53
GREECE		6,091,920	0.55
HONG KONG		19,181,459	1.73
IRELAND		5,335,712	0.48
ITALY		34,518,024	3.12
JAPAN		194,606,008	17.58
LUXEMBORG		569,811	0.05
NETHERLANDS		24,001,333	2.17
NEW ZEALAND		853,749	0.08
NORWAY		10,323,632	0.93
PORTUGAL		2,571,222	0.23
SINGAPORE		10,622,426	0.96
SPAIN		37,385,837	3.38
SWEDEN		19,816,557	1.79
SWITZERLAND		64,810,580	5.85
UNITED KINGDOM		198,750,333	17.95
TOTAL FOREIGN		912,601,552	82.41
TOTAL PORTFOLIO	$	1,107,339,267	100.00	%

338

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
ENHANCED INTERNATIONAL EQUITY INDEX FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
COMMON STOCKS - 99.23%
AGRICULTURAL SERVICES - 0.17%
3,149	Yara International ASA	$	278,106
	TOTAL AGRICULTURAL SERVICES		278,106
AMUSEMENT AND RECREATION SERVICES - 1.27%
83,834	Ladbrokes plc		425,965
1,700	Nintendo Co Ltd		964,024
10,784	OPAP S.A.		377,320
28,957	TABCORP Holdings Ltd		272,266
	TOTAL AMUSEMENT AND RECREATION SERVICES		2,039,575
APPAREL AND ACCESSORY STORES - 0.10%
2,920	Hennes & Mauritz AB (B Shares)		157,535
	TOTAL APPAREL AND ACCESSORY STORES		157,535
APPAREL AND OTHER TEXTILE PRODUCTS - 0.19%
9,000	Onward Kashiyama Co Ltd		94,631
3,300	Shimamura Co Ltd		203,477
	TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		298,108
AUTO REPAIR, SERVICES AND PARKING - 0.14%
6,800	Aisin Seiki Co Ltd		223,371
	TOTAL AUTO REPAIR, SERVICES AND PARKING		223,371
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.26%
46,853	Inchcape plc		296,556
5,000	Suzuki Motor Corp		118,423
	TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		414,979
BUSINESS SERVICES - 1.89%
860	Adecco S.A.		42,511
660	Atos Origin S.A.		36,356
7,057	Computershare Ltd		62,204
39,000	Fujitsu Ltd		289,607
76,396	Group 4 Securicor plc		306,855
190	Hakuhodo DY Holdings, Inc		10,142
34,116	IFIL - Investments S.p.A.		220,472
500	Konami Corp		17,488
7,774	LogicaCMG plc		16,647
2,600	Mitsubishi UFJ Lease & Finance Co Ltd		112,973
65,000	NEC Corp		341,279
3,785	Publicis Groupe S.A.		122,121
98	Rakuten, Inc		49,473
24,060	Sage Group plc		99,605
8,779	SAP AG.		459,469
3,500	Softbank Corp		59,020

339

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES		COMPANY		VALUE
1,129		United Internet AG.	$	22,243
1,400		USS Co Ltd		92,503
71,301		WPP Group plc		681,330
		TOTAL BUSINESS SERVICES		3,042,298
CHEMICALS AND ALLIED PRODUCTS - 9.99%
1,078	*	Actelion Ltd		57,504
15,000		Asahi Kasei Corp		78,643
10,800		Astellas Pharma, Inc		459,272
13,656		AstraZeneca plc (ADR)		580,790
21,846		BASF AG.		1,505,655
2,179		Christian Dior S.A.		223,832
7,388		CSL Ltd		252,898
15,000		Dainippon Ink and Chemicals, Inc		43,530
12,668		DSM NV		742,493
2,400	*	Elan Corp plc (ADR)		85,320
86,036		GlaxoSmithKline plc		1,901,905
808		Grifols S.A.		25,735
6,965		Henkel KGaA		276,776
2,300		Hisamitsu Pharmaceutical Co, Inc		100,153
1,748		Incitec Pivot Ltd		309,518
5,000		Kao Corp		131,262
3,500		Kingboard Chemical Holdings Ltd		16,161
8,000		Kuraray Co Ltd		95,454
13,000		Kyowa Hakko Kogyo Co Ltd		133,286
12,700		Mediceo Paltac Holdings Co Ltd		233,874
85,500		Mitsubishi Chemical Holdings Corp		497,867
1,000		Mitsubishi Gas Chemical Co, Inc		7,204
42,167		Novartis AG.		2,320,541
10,075		Novo Nordisk AS (Class B)		663,242
2,800		Ono Pharmaceutical Co Ltd		154,425
7,197		Reckitt Benckiser Group plc		363,509
5,106		Roche Holding AG.		917,917
18,347		Sanofi-Aventis		1,219,137
2,600		Shin-Etsu Chemical Co Ltd		161,343
12,000		Shionogi & Co Ltd		237,598
18,400		Shire Ltd		300,794
1,000		Shiseido Co Ltd		22,917
3,414		Syngenta AG.		1,106,042
6,600		Takeda Pharmaceutical Co Ltd		335,673
5,000		Tanabe Seiyaku Co Ltd		65,358
112,000		UBE Industries Ltd		396,712
106		Wacker Chemie AG.		22,144
		TOTAL CHEMICALS AND ALLIED PRODUCTS		16,046,484
COMMUNICATIONS - 6.32%
21,140		BT Group plc		83,750
17,949		Cable & Wireless plc		53,650
45,917		Deutsche Telekom AG.		752,589
46,598		France Telecom S.A.		1,366,580
11,000	*	Hutchison Telecommunications International Ltd		15,577
49		KDDI Corp		303,184
144		Nippon Telegraph & Telephone Corp		710,535
16		NTT DoCoMo, Inc		23,468

340

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES		COMPANY		VALUE
19,385		Portugal Telecom SGPS S.A.	$	219,254
25,644		Royal KPN NV		438,430
43,000		Singapore Telecommunications Ltd		114,626
47,277		Telefonica S.A.		1,251,126
43,043		Telenor ASA		808,010
88,118		Telstra Corp Ltd		358,056
31,877		Vivendi Universal S.A.		1,201,962
82,943		Vodafone Group plc (ADR)		2,443,501
		TOTAL COMMUNICATIONS		10,144,298
DEPOSITORY INSTITUTIONS - 15.10%
23,726		Alliance & Leicester plc		138,469
10,378		Allied Irish Banks plc		159,934
20,981		Alpha Bank S.A.		635,168
29,246		Anglo Irish Bank Corp plc		272,793
16,206		Australia & New Zealand Banking Group Ltd		291,264
187,365		Banca Monte dei Paschi di Siena S.p.A.		528,118
69,867		Banco Bilbao Vizcaya Argentaria S.A.		1,331,228
9,666		Banco Espirito Santo S.A.		150,346
115,418		Banco Santander Central Hispano S.A.		2,105,694
6,000		Bank of Kyoto Ltd		62,715
4,796	v*	Barclays plc		907
22,384		Barclays plc		126,996
5,796		Bendigo Bank Ltd		60,738
9,243		BNP Paribas		832,026
172,000		BOC Hong Kong Holdings Ltd		455,925
20,000		Chiba Bank Ltd		140,435
8,230		Commonwealth Bank of Australia		317,344
26,669		Credit Agricole S.A.		541,391
9,000		DBS Group Holdings Ltd		125,217
7,539		Deutsche Bank AG.		650,802
26,692		Dexia		424,985
7,900		DNB NOR Holding ASA		100,363
1,196		EFG International		32,549
1,192		Erste Bank der Oesterreichischen Sparkassen AG.		73,721
25,600		Hang Seng Bank Ltd		540,521
5,000		Hokuhoku Financial Group, Inc		14,503
113,067		HSBC Holdings plc		1,740,965
43,793		ING Groep NV		1,384,630
49,692		Investec plc		302,568
173,175		Lloyds TSB Group plc		1,062,480
24,083		Mediobanca S.p.A.		408,133
124,200		Mitsubishi UFJ Financial Group, Inc		1,097,610
64,000		Mitsui Trust Holdings, Inc		381,196
73		Mizuho Financial Group, Inc		339,657
17,534		National Australia Bank Ltd		445,214
10,842		National Bank of Greece S.A.		487,963
37,964		Natixis		417,902
71,600		Nordea Bank AB		981,100
7,480		OKO Bank (Class A)		129,129
40,000		Oversea-Chinese Banking Corp		240,930
290		Raiffeisen International Bank Holding AG.		36,845
237		Resona Holdings, Inc		364,015
63,025		Royal Bank of Scotland Group plc		268,308

341

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES		COMPANY		VALUE
65,000		Shinsei Bank Ltd	$	222,829
35,708		Standard Chartered plc		1,011,238
79		Sumitomo Mitsui Financial Group, Inc		594,096
7,000		Sumitomo Trust & Banking Co Ltd		48,903
194		Swedbank AB (A Shares)		3,727
3,900		Sydbank AS		148,223
8,532	*	UBS A.G.		177,792
16	v*	UBS AG.		15
97,134		UniCredito Italiano S.p.A		590,851
14,000		United Overseas Bank Ltd		192,196
40,859		Westpac Banking Corp		784,776
20,000		Yamaguchi Financial Group, Inc		276,820
		TOTAL DEPOSITORY INSTITUTIONS		24,254,263
EATING AND DRINKING PLACES - 0.07%
14,957		Compass Group plc		112,506
		TOTAL EATING AND DRINKING PLACES		112,506
ELECTRIC, GAS, AND SANITARY SERVICES - 6.23%
3,528		AGL Energy Ltd		48,328
32,218		British Energy Group plc		453,246
10,200		Chubu Electric Power Co, Inc		249,144
14,300		Chugoku Electric Power Co, Inc		305,140
17,500		CLP Holdings Ltd		150,076
11,137		Contact Energy Ltd		67,781
4,775		E.ON AG.		962,372
3,900		Electric Power Development Co		144,792
6,945		Electricite de France		657,905
123,012		Enel S.p.A.		1,166,940
1,429		Fortum Oyj		72,329
12,683	*	Gaz de France		812,072
9,400		Hokuriku Electric Power Co		223,547
50,000		Hong Kong Electric Holdings Ltd		299,184
15,237		Iberdrola S.A.		203,015
7,300		Kansai Electric Power Co, Inc		171,020
16,500		Kyushu Electric Power Co, Inc		345,259
23,951		National Grid plc		313,958
38,000		Osaka Gas Co Ltd		139,395
1,598		Red Electrica de Espana		103,731
2,438		RWE AG.		307,812
5,107		Scottish & Southern Energy plc		142,296
44,469		Snam Rete Gas S.p.A.		303,119
11,200		Sojitz Holdings Corp		37,362
13,710		Suez S.A.		929,365
12,378	*	Union Fenosa S.A.		719,313
50,167	*	United Utilities plc		682,677
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		10,011,178
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 4.43%
50,817		ABB Ltd		1,438,418
13,000		Ericsson (LM) (B Shares)		135,180
8,400		Hitachi High-Technologies Corp		194,913
53,000		Hitachi Ltd		381,678
1,055		Koninklijke Philips Electronics NV		35,728

342

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES		COMPANY		VALUE
3,500		Kyocera Corp	$	330,167
42,000		Matsushita Electric Industrial Co Ltd		898,539
4,000		Matsushita Electric Works Ltd		40,818
40,000		Mitsubishi Electric Corp		432,635
5,800		Mitsumi Electric Co Ltd		129,311
1,400	*	NEC Electronics Corp		34,984
73,860		Nokia Oyj		1,805,351
10,000		Ricoh Co Ltd		180,993
15,900		Sony Corp		696,955
11,100		Sumco Corp		245,930
1,100		TDK Corp		65,822
9,000		Venture Corp Ltd		65,123
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		7,112,545
ENGINEERING AND MANAGEMENT SERVICES - 0.44%
5,207		Cap Gemini S.A.		305,272
4,077		Fugro NV		347,163
1,642		WorleyParsons Ltd		59,495
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		711,930
FOOD AND KINDRED PRODUCTS - 3.55%
15,000		Asahi Breweries Ltd		280,403
331,000		Golden Agri-Resources Ltd		218,492
12,296		Groupe Danone		860,401
5,171		InBev NV		357,528
738		Kerry Group plc (Class A)		21,784
25,000		Kirin Brewery Co Ltd		390,932
14,386		Lion Nathan Ltd		117,846
36,030		Nestle S.A.		1,623,680
6,500		Nisshin Seifun Group, Inc		81,699
24,000		Olam International Ltd		42,811
204,603		Parmalat S.p.A.		532,249
6,000		Swire Pacific Ltd (Class A)		61,415
57,068		Tate & Lyle plc		449,696
5,000		Toyo Suisan Kaisha Ltd		113,163
17,579		Unilever plc		499,456
13,000		Wilmar International Ltd		48,306
		TOTAL FOOD AND KINDRED PRODUCTS		5,699,861
FOOD STORES - 1.54%
1,345		Carrefour S.A.		75,814
5,400		FamilyMart Co Ltd		221,035
25,677		Koninklijke Ahold NV		344,215
13,800		Seven & I Holdings Co Ltd		395,137
27,259		Sonae SPGS S.A.		32,656
43,187		Tesco plc		315,885
96,271		WM Morrison Supermarkets plc		507,510
24,438		Woolworths Ltd		572,700
		TOTAL FOOD STORES		2,464,952
FURNITURE AND HOME FURNISHINGS STORES - 0.07%
39,312		Harvey Norman Holdings Ltd		116,341
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		116,341

343

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES	COMPANY		VALUE
GENERAL BUILDING CONTRACTORS - 1.25%
3,328	Amec plc	$	58,644
8,296	Balfour Beatty plc		69,789
3,170	Bilfinger Berger AG.		274,882
1,969	Eiffage S.A.		134,474
57,000	Kajima Corp		199,415
11,473	Lend Lease Corp Ltd		105,119
15,301	Vinci S.A.		934,338
8,986	YIT Oyj		224,388
	TOTAL GENERAL BUILDING CONTRACTORS		2,001,049
GENERAL MERCHANDISE STORES - 0.12%
2,000	Aeon Co Ltd		24,757
811	PPR		89,528
18,000	Tobu Railway Co Ltd		85,329
	TOTAL GENERAL MERCHANDISE STORES		199,614
HEALTH SERVICES - 0.07%
781	Fresenius Medical Care AG.		43,031
4,667	Parkway Holdings Ltd		7,963
4,817	Sonic Healthcare Ltd		67,265
	TOTAL HEALTH SERVICES		118,259
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.27%
999	ACS Actividades Cons y Servicios S.A.		49,989
4,867	Bouygues S.A.		321,109
15,931	Transurban Group		64,765
	TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		435,863
HOLDING AND OTHER INVESTMENT OFFICES - 1.32%
85,000	CapitaCommercial Trust		119,523
90,000	CapitaMall Trust		198,507
92,378	CFS Gandel Retail Trust		163,898
623	Eurazeo		66,293
8,773	GPT Group		18,694
771	Groupe Bruxelles Lambert S.A.		91,415
381	Heineken Holding NV		17,439
8	Japan Prime Realty Investment Corp		23,669
19	Japan Real Estate Investment Corp		200,677
12	Japan Retail Fund Investment Corp		69,190
2,900	JFE Holdings, Inc		146,213
1,625	KBC Ancora		141,500
10,595	Land Securities Group plc		258,551
43,707	Macquarie Infrastructure Group		97,249
105,000	Noble Group Ltd		183,781
17,000	NWS Holdings Ltd		44,393
1,898	Wendel		192,163
22,000	Wharf Holdings Ltd		92,106
	TOTAL HOLDING AND OTHER INVESTMENT OFFICES		2,125,261
HOTELS AND OTHER LODGING PLACES - 0.26%
5,640	Accor S.A.		374,664
4,934	Crown Ltd		43,890
	TOTAL HOTELS AND OTHER LODGING PLACES		418,554

344

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES		COMPANY		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 2.38%
9,200		Alfa Laval AB	$	142,135
1,485		Alstom RGPT		340,519
3,000		Amada Co Ltd		23,733
1,800		ASM Pacific Technology		13,605
12,833		ASML Holding NV		314,104
8,325		Brambles Ltd		69,679
18,200		Canon, Inc		936,861
1,300		Daikin Industries Ltd		65,732
800		Fanuc Ltd		78,238
4,000		FUJIFILM Holdings Corp		137,782
6,600		Hitachi Construction Machinery Co Ltd		185,037
4,000		Itochu Techno-Science Corp		129,984
25,600		Komatsu Ltd		714,908
5,988		Kone Oyj (Class B)		209,315
5,000		Konica Minolta Holdings, Inc		84,693
1,000		Makita Corp		40,925
12,000		NTN Corp		80,016
1,072		Rheinmetall AG.		77,382
831		Sulzer AG.		104,987
1,100		Tokyo Electron Ltd		63,435
125	*	Vestas Wind Systems AS		16,275
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		3,829,345
INSTRUMENTS AND RELATED PRODUCTS - 0.68%
458		Cochlear Ltd		19,236
5,001		Finmeccanica S.p.A.		130,756
2,000		Nikon Corp		58,547
19,000		Nippon Electric Glass Co Ltd		330,258
257,000		PCCW Ltd		155,648
2,861		Synthes, Inc		393,508
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		1,087,953
INSURANCE AGENTS, BROKERS AND SERVICE - 0.76%
46,270	*	HBOS plc		9,907
115,675		HBOS plc		633,303
25,169		QBE Insurance Group Ltd		541,161
2,690		Suncorp-Metway Ltd		33,709
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		1,218,080
INSURANCE CARRIERS - 4.26%
5,474		Allianz AG.		962,893
19,714		AMP Ltd		126,232
12,032		Aviva plc		119,287
3,418		AXA S.A.		100,714
6,822		Baloise Holding AG.		715,518
93,065		Corp Mapfre S.A.		444,255
12,783		Hannover Rueckversicherung AG.		629,666
19,300		Millea Holdings, Inc		752,220
5,600		Mitsui Sumitomo Insurance Group Holdings, Inc		193,545
5,071		Muenchener Rueckver AG.		889,421
95,005		Old Mutual plc		174,405
292,330		Royal & Sun Alliance Insurance Group plc		727,777

345

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES		COMPANY		VALUE
54,807		Standard Life plc	$	227,851
2,915		Swiss Life Holding		775,447
		TOTAL INSURANCE CARRIERS		6,839,231
LEATHER AND LEATHER PRODUCTS - 0.57%
4,174		Adidas-Salomon AG.		262,848
530		LVMH Moet Hennessy Louis Vuitton S.A.		55,288
9,567		ThyssenKrupp AG.		600,181
		TOTAL LEATHER AND LEATHER PRODUCTS		918,317
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.09%
26,243		Stagecoach Group plc		145,560
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		145,560
METAL MINING - 5.03%
13,685		Anglo American plc		961,155
11,099		Antofagasta plc		144,318
51,380		BHP Billiton Ltd		2,186,746
35,902		BHP Billiton plc		1,376,852
19,100		Boliden AB		154,216
3,452		Kazakhmys plc		108,842
5,562		Newcrest Mining Ltd		154,362
5,938		Rio Tinto Ltd		768,300
7,236		Rio Tinto plc		871,415
853		Vedanta Resources plc		36,838
16,483		Xstrata plc		1,313,051
		TOTAL METAL MINING		8,076,095
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.20%
4,600		Sankyo Co Ltd		299,723
700		Yamaha Corp		13,536
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		313,259
MISCELLANEOUS RETAIL - 0.64%
8,814		Compagnie Financiere Richemont AG.		489,140
3,859		Home Retail Group		16,676
34,000		Hutchison Whampoa Ltd		342,866
17,500		Nippon Mining Holdings, Inc		109,875
4,434		Origin Energy Ltd		68,601
		TOTAL MISCELLANEOUS RETAIL		1,027,158
NONDEPOSITORY INSTITUTIONS - 0.75%
7,650		Acom Co Ltd		236,787
1,400		Aeon Credit Service Co Ltd		17,544
8,700		Credit Saison Co Ltd		182,497
86,683		Criteria Caixacorp S.A.		517,252
2,800		Investor AB (B Shares)		58,784
1,300		ORIX Corp		186,195
		TOTAL NONDEPOSITORY INSTITUTIONS		1,199,059
OIL AND GAS EXTRACTION - 1.62%
50,401		BG Group plc		1,309,802
13,849	*	Petroleum Geo-Services ASA		339,142
13,017		Santos Ltd		268,117

346

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES		COMPANY		VALUE
1,361		Technip S.A.	$	125,592
8,655		Woodside Petroleum Ltd		559,425
		TOTAL OIL AND GAS EXTRACTION		2,602,078
PAPER AND ALLIED PRODUCTS - 0.15%
42,237		Mondi plc		247,909
		TOTAL PAPER AND ALLIED PRODUCTS		247,909
PETROLEUM AND COAL PRODUCTS - 7.21%
33,300		BP plc (ADR)		2,316,681
5,000		Cosmo Oil Co Ltd		18,116
50,583		ENI S.p.A.		1,879,172
197		OMV AG.		15,392
6,862		Repsol YPF S.A.		269,294
45,863		Royal Dutch Shell plc (A Shares)		1,880,005
52,821		Royal Dutch Shell plc (B Shares)		2,115,132
18,500		Showa Shell Sekiyu KK		203,104
10,250		Statoil ASA		382,425
10,000		TonenGeneral Sekiyu KK		90,842
28,244		Total S.A.		2,404,082
		TOTAL PETROLEUM AND COAL PRODUCTS		11,574,245
PRIMARY METAL INDUSTRIES - 2.16%
4,436	*	Arcelor		435,946
6,568		BlueScope Steel Ltd		71,367
83,000		Mitsubishi Materials Corp		354,939
132,000		Nippon Steel Corp		715,391
88,000		Nisshin Steel Co Ltd		299,552
3,426		Salzgitter AG.		627,599
9,100		Sumitomo Electric Industries Ltd		115,566
6,272		Umicore		308,479
5,400		Voestalpine AG.		441,910
2,000		Yamato Kogyo Co Ltd		95,508
		TOTAL PRIMARY METAL INDUSTRIES		3,466,257
PRINTING AND PUBLISHING - 0.52%
7,000		Dai Nippon Printing Co Ltd		103,055
7,172		PagesJaunes Groupe S.A.		104,900
1,163		Promotora de Informaciones S.A.		12,398
2,981		Reed Elsevier plc		33,970
12,000		Singapore Press Holdings Ltd		37,520
5,539	*	Thomson Reuters plc		147,727
36,000		Toppan Printing Co Ltd		396,559
		TOTAL PRINTING AND PUBLISHING		836,129
RAILROAD TRANSPORTATION - 0.42%
36		Central Japan Railway Co		396,809
11		East Japan Railway Co		89,598
38		West Japan Railway Co		186,514
		TOTAL RAILROAD TRANSPORTATION		672,921
REAL ESTATE - 2.08%
80,000		Ascendas Real Estate Investment Trust		129,709
2,314		British Land Co plc		32,541

347

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES	COMPANY		VALUE
11,000	Cheung Kong Holdings Ltd	$	148,753
46,824	Chinese Estates Holdings Ltd		72,140
4,675	Corio NV		364,133
1,660	Gecina S.A.		200,623
63,000	Henderson Land Development Co Ltd		393,892
17,000	Hopewell Holdings		60,430
43,000	Hysan Development Co Ltd		118,328
4,317	Leighton Holdings Ltd		210,215
5,877	Liberty International plc		100,303
5,000	Mitsubishi Estate Co Ltd		114,473
8,000	Mitsui Fudosan Co Ltd		171,224
122,000	New World Development Ltd		249,195
11,400	Nomura Real Estate Holdings, Inc		240,874
38,000	Sino Land Co		75,625
15,194	Stockland Trust Group		78,565
3,000	Sumitomo Realty & Development Co Ltd		59,679
46,000	Tokyo Tatemono Co Ltd		297,924
14,163	Westfield Group		221,305
	TOTAL REAL ESTATE		3,339,931
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.32%
5,395	Bayer AG.		453,926
3,500	Bridgestone Corp		53,693
	TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		507,619
SECURITY AND COMMODITY BROKERS - 0.99%
7,651	Australian Stock Exchange Ltd		230,370
16,678	Babcock & Brown Ltd		119,741
8,351	Credit Suisse Group		380,112
1,081	Deutsche Boerse AG.		122,196
92	E*Trade Securities Co Ltd		71,856
2,200	Hong Kong Exchanges and Clearing Ltd		32,227
41,747	Legal & General Group plc		82,840
2,952	Macquarie Group Ltd		137,431
18,539	Man Group plc		229,020
61	SBI Holdings, Inc		13,351
793	Schroders plc		14,359
50,000	Shinko Securities Co Ltd		147,421
3,000	Singapore Exchange Ltd		15,304
	TOTAL SECURITY AND COMMODITY BROKERS		1,596,228
SPECIAL TRADE CONTRACTORS - 0.04%
6,000	Kinden Corp		60,571
	TOTAL SPECIAL TRADE CONTRACTORS		60,571
STONE, CLAY, AND GLASS PRODUCTS - 0.69%
11,497	CRH plc		334,144
1,490	Holcim Ltd		120,440
1,995	Lafarge S.A.		304,212
38,000	Nippon Sheet Glass Co Ltd		188,338
1,437	Pargesa Holding S.A.		159,325
	TOTAL STONE, CLAY, AND GLASS PRODUCTS		1,106,459

348

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES	COMPANY		VALUE
TOBACCO PRODUCTS - 1.38%
38,160	British American Tobacco plc	$	1,316,293
5,024	Imperial Tobacco Group plc		186,636
34,990	Swedish Match AB		713,083
	TOTAL TOBACCO PRODUCTS		2,216,012
TRANSPORTATION BY AIR - 0.89%
23,463	Deutsche Lufthansa AG.		505,528
78,966	Macquarie Airports		156,191
828	Merck KGaA		117,660
27,242	SABMiller plc		622,398
1,930	Singapore Airlines Ltd		20,889
	TOTAL TRANSPORTATION BY AIR		1,422,666
TRANSPORTATION EQUIPMENT - 6.46%
102,781	BAE Systems plc		902,146
9,665	Bayerische Motoren Werke AG.		464,370
39,257	Cobham plc		154,082
8,000	Cosco Corp Singapore Ltd		18,878
7,000	Daihatsu Motor Co Ltd		80,265
13,377	DaimlerChrysler AG.		829,718
41,496	Fiat S.p.A.		675,427
18,219	GKN plc		80,413
5,000	Hino Motors Ltd		31,054
26,900	Honda Motor Co Ltd		918,007
43,000	Isuzu Motors Ltd		207,067
10,000	Jardine Cycle & Carriage Ltd		125,329
1,300	JTEKT Corp		20,653
6,588	MAN AG.		730,506
24,000	NHK Spring Co Ltd		191,539
19,000	NSK Ltd		166,479
5,420	Peugeot S.A.		292,745
810	Renault S.A.		65,923
43,322	Scania AB (B Shares)		589,837
7,620	Siemens AG.		844,753
10,640	Thales S.A.		605,221
700	Tokai Rika Co Ltd		14,494
44,270	Tomkins plc		132,539
800	Toyoda Gosei Co Ltd		23,412
29,400	Toyota Motor Corp		1,387,797
1,166	Volkswagen AG.		336,797
39,400	Volvo AB (B Shares)		479,776
	TOTAL TRANSPORTATION EQUIPMENT		10,369,227
TRUCKING AND WAREHOUSING - 0.33%
17,057	Deutsche Post AG.		445,343
17,000	Nippon Express Co Ltd		81,644
	TOTAL TRUCKING AND WAREHOUSING		526,987
WATER TRANSPORTATION - 0.82%
23	AP Moller - Maersk AS (Class B)		280,531
9,000	Kawasaki Kisen Kaisha Ltd		84,579
16,000	Mitsui OSK Lines Ltd		228,191
41,000	Neptune Orient Lines Ltd		97,517
50,000	Nippon Yusen Kabushiki Kaisha		481,590

349

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
SHARES		COMPANY		VALUE
98,000		Pacific Basin Shipping Ltd	$	140,226
		TOTAL WATER TRANSPORTATION		1,312,634
WHOLESALE TRADE-DURABLE GOODS - 1.76%
6,000		Canon Marketing Japan, Inc		105,541
5,082	*	Fortescue Metals Group Ltd		57,737
10,000		Itochu Corp		106,618
30,000		Mitsubishi Corp		988,521
36,000		Mitsui & Co Ltd		794,559
74,000		Nissan Motor Co Ltd		614,605
696		Prysmian S.p.A.		17,571
1,212		Valeo S.A.		38,793
3,093		Wesfarmers Ltd		110,526
		TOTAL WHOLESALE TRADE-DURABLE GOODS		2,834,471
WHOLESALE TRADE-NONDURABLE GOODS - 0.98%
5,944		Casino Guichard Perrachon S.A.		671,249
300		Danisco AS		19,234
13,700		Esprit Holdings Ltd		142,651
26,000		Marubeni Corp		216,865
8,000		Nippon Oil Corp		53,899
5,200		Suzuken Co Ltd		192,083
9,649		Unilever NV		272,860
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,568,841
		TOTAL COMMON STOCKS		159,342,172
		(Cost $170,097,531)
PREFERRED STOCKS - 0.26%
TRANSPORTATION EQUIPMENT - 0.26%
2,678		Porsche AG.		412,355
		TOTAL TRANSPORTATION EQUIPMENT		412,355
		TOTAL PREFERRED STOCKS		412,355
		(Cost $503,609)
SHORT TERM INVESTMENTS -11.13%
PRINCIPAL
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 11.13%
$      17,880,000		Federal Home Loan Bank Discount Notes, 0.000%, 07/01/08		17,880,000
				17,880,000
		TOTAL SHORT-TERM INVESTMENTS		17,880,000
		(Cost $17,880,000)
		TOTAL PORTFOLIO - 110.62%		177,634,527
		(Cost $188,481,140)
		OTHER ASSETS & LIABILITIES, NET - (10.62%)		(17,060,675	)
		NET ASSETS - 100.00%	$	160,573,852
		The following abbreviations are used in portfolio descriptions:
		ADR-  American Depositary Receipt
		plc  -  Public Limited Company

350

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index
	*	Non-income producing.
	v	Security valued at fair value.
		At June 30, 2008, the unrealized depreciation on investments was $10,846,613, consisting of
		gross unrealized appreciation of $2,025,199 and gross unrealized depreciation of $12,871,812.

351

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced International Equity Index Fund
SUMMARY OF MARKET VALUES BY COUNTRY
ENHANCED INTERNATIONAL EQUITY INDEX FUND (unaudited)
June 30, 2008
			% OF
			MARKET
CONUTRY	VALUE		VALUE
DOMESTIC
UNITED STATES OF AMERICA	$	17,880,000	10.10	%
TOTAL DOMESTIC		17,880,000	10.10
FOREIGN
AUSTRALIA		10,818,883	6.10
AUSTRIA		567,867	0.30
BELGIUM		1,323,908	0.80
DENMARK		1,127,505	0.60
FINLAND		2,440,513	1.40
FRANCE		17,460,512	9.80
GERMANY		14,590,918	8.20
GREECE		1,500,451	0.90
HONG KONG		3,804,725	2.20
IRELAND		873,975	0.50
ITALY		6,452,807	3.60
JAPAN		34,187,459	19.20
NETHERLANDS		4,261,196	2.40
NEW ZEALAND		67,781	0.00
NORWAY		1,908,044	1.10
PORTUGAL		402,256	0.20
SINGAPORE		1,818,840	1.00
SPAIN		7,033,030	4.00
SWEDEN		3,415,373	1.90
SWITZERLAND		10,855,448	6.10
UNITED KINGDOM		34,843,037	19.60
TOTAL FOREIGN		159,754,527	89.90
TOTAL PORTFOLIO	$	177,634,527	100.00	%

352

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)
June 30, 2008
		COMPANY		VALUE
COMMON STOCKS - 99.86%
AMUSEMENT AND RECREATION SERVICES - 0.49%
11,900	*	Activision, Inc	$	405,433
3,100	*	Penn National Gaming, Inc		99,665
5,600		Walt Disney Co		174,720
3,500		Warner Music Group Corp		24,990
		TOTAL AMUSEMENT AND RECREATION SERVICES		704,808
APPAREL AND ACCESSORY STORES - 0.68%
600		Abercrombie & Fitch Co (Class A)		37,608
400		American Eagle Outfitters, Inc		5,452
1,300	*	AnnTaylor Stores Corp		31,148
5,000		Gap, Inc		83,350
9,400	*	Hanesbrands, Inc		255,116
15,900		Ross Stores, Inc		564,768
		TOTAL APPAREL AND ACCESSORY STORES		977,442
APPAREL AND OTHER TEXTILE PRODUCTS - 0.09%
1,100		Phillips-Van Heusen Corp		40,282
1,300		Polo Ralph Lauren Corp		81,614
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		121,896
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.60%
7,300		Advance Auto Parts		283,459
4,700	*	Autozone, Inc		568,747
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		852,206
BUSINESS SERVICES - 11.07%
27,300		Accenture Ltd (Class A)		1,111,656
1,800		Acxiom Corp		20,682
24,000	*	Adobe Systems, Inc		945,360
5,500	*	Affiliated Computer Services, Inc (Class A)		294,195
11,100	*	Autodesk, Inc		375,291
5,300	*	BMC Software, Inc		190,800
200	*	Cadence Design Systems, Inc		2,020
4,200	*	Compuware Corp		40,068
25,900	*	eBay, Inc		707,847
300	*	Electronic Arts, Inc		13,329
200		Electronic Data Systems Corp		4,928
10,700	*	Fiserv, Inc		485,459
4,700	*	Google, Inc (Class A)		2,474,174
5,200		IMS Health, Inc		121,160
7,000	*	Kinetic Concepts, Inc		279,370
2,900		Manpower, Inc		168,896
1,300		Mastercard, Inc (Class A)		345,176
187,700		Microsoft Corp		5,163,627
500	*	NAVTEQ Corp		38,500

353

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
91,200	*	Oracle Corp	$	1,915,200
11,100		Robert Half International, Inc		266,067
3,200	*	Salesforce.com, Inc		218,336
1,700		Visa, Inc (Class A)		138,227
26,200	*	Yahoo!, Inc		541,292
		TOTAL BUSINESS SERVICES		15,861,660
CHEMICALS AND ALLIED PRODUCTS - 9.19%
25,100		Abbott Laboratories		1,329,547
100	*	Abraxis Bioscience, Inc		6,346
2,300		Air Products & Chemicals, Inc		227,378
9,300	*	Amgen, Inc		438,588
600		Avon Products, Inc		21,612
300	*	Barr Pharmaceuticals, Inc		13,524
8,400	*	Biogen Idec, Inc		469,476
2,500		Bristol-Myers Squibb Co		51,325
6,000		Celanese Corp (Series A)		273,960
100	*	Cephalon, Inc		6,669
1,200		CF Industries Holdings, Inc		183,360
3,600		Church & Dwight Co, Inc		202,860
6,300		Colgate-Palmolive Co		435,330
3,400		Ecolab, Inc		146,166
3,600		Eli Lilly & Co		166,176
3,600		Estee Lauder Cos (Class A)		167,220
16,500	*	Forest Laboratories, Inc		573,210
12,700	*	Genentech, Inc		963,930
800	*	Genzyme Corp		57,616
25,600	*	Gilead Sciences, Inc		1,355,520
5,800	*	Invitrogen Corp		227,708
3,200		Lubrizol Corp		148,256
19,400		Merck & Co, Inc		731,186
15,600		Monsanto Co		1,972,464
5,000		Mosaic Co		723,500
400		Nalco Holding Co		8,460
4,200	*	NBTY, Inc		134,652
22,700		Procter & Gamble Co		1,380,387
31,900		Schering-Plough Corp		628,111
4,400	*	Watson Pharmaceuticals, Inc		119,548
		TOTAL CHEMICALS AND ALLIED PRODUCTS		13,164,085
COAL MINING - 0.34%
300	*	Alpha Natural Resources, Inc		31,287
100		Arch Coal, Inc		7,503
1,600		Consol Energy, Inc		179,792
2,900		Massey Energy Co		271,875
		TOTAL COAL MINING		490,457
COMMUNICATIONS - 1.50%
2,200	*	American Tower Corp (Class A)		92,950
800	*	CTC Media, Inc		19,728
26,800	*	DIRECTV Group, Inc		694,388
15,500	*	DISH Network Corp (Class A)		453,840
4,700	*	Level 3 Communications, Inc		13,865
6,000	*	Liberty Media Corp - Entertainment (Series A)		145,380

354

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,400	*	NII Holdings, Inc	$	161,466
1,200	*	SBA Communications Corp (Class A)		43,212
3,200		Telephone & Data Systems, Inc		151,264
800	*	US Cellular Corp		45,240
27,100		Windstream Corp		334,414
		TOTAL COMMUNICATIONS		2,155,747
DEPOSITORY INSTITUTIONS - 0.77%
500		Bank of New York Mellon Corp		18,915
6,200		Northern Trust Corp		425,134
26,900		Western Union Co		664,968
		TOTAL DEPOSITORY INSTITUTIONS		1,109,017
EATING AND DRINKING PLACES - 1.34%
8,300		Burger King Holdings, Inc		222,357
14,300		Darden Restaurants, Inc		456,742
9,100		McDonald's Corp		511,602
11,300	*	Starbucks Corp		177,862
1,100		Tim Hortons, Inc		31,559
14,700		Yum! Brands, Inc		515,823
		TOTAL EATING AND DRINKING PLACES		1,915,945
EDUCATIONAL SERVICES - 0.16%
4,300	*	Apollo Group, Inc (Class A)		190,318
500	*	ITT Educational Services, Inc		41,315
		TOTAL EDUCATIONAL SERVICES		231,633
ELECTRIC, GAS, AND SANITARY SERVICES - 1.71%
29,300	*	AES Corp		562,853
2,400	*	Allied Waste Industries, Inc		30,288
7,500	*	Calpine Corp		169,200
22,200		Centerpoint Energy, Inc		356,310
600		Constellation Energy Group, Inc		49,260
5,600	*	Covanta Holding Corp		149,464
3,100		El Paso Corp		67,394
1,000		Exelon Corp		89,960
6,700	*	NRG Energy, Inc		287,430
2,000		PPL Corp		104,540
10,800		Public Service Enterprise Group, Inc		496,044
2,100		Williams Cos, Inc		84,651
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		2,447,394
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 11.38%
5,600		Altera Corp		115,920
4,200		Amphenol Corp (Class A)		188,496
10,800		Analog Devices, Inc		343,116
19,100	*	Apple Computer, Inc		3,198,104
1,800	*	Avnet, Inc		49,104
11,500	*	Broadcom Corp (Class A)		313,835
1,800	*	Ciena Corp		41,706
123,800	*	Cisco Systems, Inc		2,879,588
1,500		Cooper Industries Ltd (Class A)		59,250
2,300	*	Dolby Laboratories, Inc (Class A)		92,690
4,400		Eaton Corp		373,868

355

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
200	*	First Solar, Inc	$	54,564
3,000		Harman International Industries, Inc		124,170
100		Harris Corp		5,049
22,900		Honeywell International, Inc		1,151,412
110,900		Intel Corp		2,382,132
4,400		L-3 Communications Holdings, Inc		399,828
6,100		Linear Technology Corp		198,677
6,300	*	MEMC Electronic Materials, Inc		387,702
19,900		National Semiconductor Corp		408,746
5,200	*	NetApp, Inc		112,632
14,600	*	Nvidia Corp		273,312
37,800		Qualcomm, Inc		1,677,186
6,500		RadioShack Corp		79,755
19,400	*	Sanmina-SCI Corp		24,832
18,400	*	Sirius Satellite Radio, Inc		35,328
45,500		Texas Instruments, Inc		1,281,280
6,400	*	Vishay Intertechnology, Inc		56,768
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		16,309,050
ENGINEERING AND MANAGEMENT SERVICES - 2.00%
5,200	*	Celgene Corp		332,124
4,900		Fluor Corp		911,792
100	*	Gen-Probe, Inc		4,748
1,400	*	Hewitt Associates, Inc (Class A)		53,662
100	*	Jacobs Engineering Group, Inc		8,070
11,200	*	McDermott International, Inc		693,168
8,000		Moody's Corp		275,520
7,200	*	Shaw Group, Inc		444,888
3,400	*	URS Corp		142,698
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		2,866,670
FABRICATED METAL PRODUCTS - 0.68%
10,800	*	Crown Holdings, Inc		280,692
5,900		Illinois Tool Works, Inc		280,309
3,500		Parker Hannifin Corp		249,620
3,800		Stanley Works		170,354
		TOTAL FABRICATED METAL PRODUCTS		980,975
FOOD AND KINDRED PRODUCTS - 3.84%
13,900		Anheuser-Busch Cos, Inc		863,468
34,100		Coca-Cola Co		1,772,518
8,900	*	Dr Pepper Snapple Group, Inc		186,722
4,100		General Mills, Inc		249,157
3,700		Hershey Co		121,286
1,200		Kellogg Co		57,624
7,400		Pepsi Bottling Group, Inc		206,608
29,600		PepsiCo, Inc		1,882,264
2,000		Wrigley (Wm.) Jr Co		155,560
		TOTAL FOOD AND KINDRED PRODUCTS		5,495,207
FOOD STORES - 0.60%
29,700		Kroger Co		857,439
		TOTAL FOOD STORES		857,439

356

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
FORESTRY - 0.03%
1,100		Rayonier, Inc	$	46,706
		TOTAL FORESTRY		46,706
FURNITURE AND FIXTURES - 0.15%
1,000		Hill-Rom Holdings, Inc		26,980
1,200		HNI Corp		21,192
5,900		Johnson Controls, Inc		169,212
		TOTAL FURNITURE AND FIXTURES		217,384
FURNITURE AND HOME FURNISHINGS STORES - 0.25%
9,000	*	GameStop Corp (Class A)		363,600
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		363,600
GENERAL BUILDING CONTRACTORS - 0.25%
1,300		Centex Corp		17,381
400	*	NVR, Inc		200,032
14,100		Pulte Homes, Inc		135,783
		TOTAL GENERAL BUILDING CONTRACTORS		353,196
GENERAL MERCHANDISE STORES - 3.05%
10,600	*	Big Lots, Inc		331,144
5,500		Costco Wholesale Corp		385,770
8,900		Family Dollar Stores, Inc		177,466
1,200		Target Corp		55,788
19,200		TJX Cos, Inc		604,224
50,000		Wal-Mart Stores, Inc		2,810,000
		TOTAL GENERAL MERCHANDISE STORES		4,364,392
HEALTH SERVICES - 1.76%
2,500		AmerisourceBergen Corp		99,975
6,200		Cigna Corp		219,418
700	*	Edwards Lifesciences Corp		43,428
11,300	*	Express Scripts, Inc		708,736
2,600	*	Lincare Holdings, Inc		73,840
5,800		McKesson Corp		324,278
16,000	*	Medco Health Solutions, Inc		755,200
200		Omnicare, Inc		5,244
6,000	*	WellPoint, Inc		285,960
		TOTAL HEALTH SERVICES		2,516,079
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.42%
8,200	*	Foster Wheeler Ltd		599,830
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		599,830
HOLDING AND OTHER INVESTMENT OFFICES - 0.79%
2,800	*	Affiliated Managers Group, Inc		252,168
1,300		General Growth Properties, Inc		45,539
8,700		Prologis		472,845
2,900		Simon Property Group, Inc		260,681
2,000		Taubman Centers, Inc		97,300
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		1,128,533

357

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
HOTELS AND OTHER LODGING PLACES - 0.22%
1,900		Choice Hotels International, Inc	$	50,350
6,900		Marriott International, Inc (Class A)		181,056
500		Starwood Hotels & Resorts Worldwide, Inc		20,035
2,800		Wyndham Worldwide Corp		50,148
200		Wynn Resorts Ltd		16,270
		TOTAL HOTELS AND OTHER LODGING PLACES		317,859
INDUSTRIAL MACHINERY AND EQUIPMENT - 9.56%
3,200	*	AGCO Corp		167,712
43,100		Applied Materials, Inc		822,779
12,000		Caterpillar, Inc		885,840
6,100		Cummins, Inc		399,672
6,200		Deere & Co		447,206
37,800	*	Dell, Inc		827,064
14,300		Dover Corp		691,691
6,400	*	Dresser-Rand Group, Inc		250,240
24,600	*	EMC Corp		361,374
13,200	*	FMC Technologies, Inc		1,015,476
68,100		Hewlett-Packard Co		3,010,701
24,500		International Business Machines Corp		2,903,985
7,100		ITT Industries, Inc		449,643
9,300		Jabil Circuit, Inc		152,613
3,100		Joy Global, Inc		235,073
3,600	*	Lam Research Corp		130,140
1,500		Lennox International, Inc		43,440
3,800	*	Lexmark International, Inc (Class A)		127,034
4,600		Seagate Technology, Inc		87,998
5,100	*	Teradata Corp		118,014
1,600		Toro Co		53,232
3,800	*	Varian Medical Systems, Inc		197,030
9,100	*	Western Digital Corp		314,223
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		13,692,180
INSTRUMENTS AND RELATED PRODUCTS - 5.64%
9,200	*	Agilent Technologies, Inc		326,968
200		Allergan, Inc		10,410
6,800		Applied Biosystems, Inc		227,664
3,000		Bard (C.R.), Inc		263,850
16,300		Baxter International, Inc		1,042,222
600		Beckman Coulter, Inc		40,518
5,800		Becton Dickinson & Co		471,540
3,400		Dentsply International, Inc		125,120
15,500		Emerson Electric Co		766,475
1,100	*	Intuitive Surgical, Inc		296,340
15,900		Johnson & Johnson		1,023,006
37,500		Medtronic, Inc		1,940,625
400		PerkinElmer, Inc		11,140
14,600	*	St. Jude Medical, Inc		596,848
300	*	Techne Corp		23,217
1,400	*	Thermo Electron Corp		78,022
7,500	*	Waters Corp		483,750
5,300	*	Zimmer Holdings, Inc		360,665
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		8,088,380

358

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
INSURANCE CARRIERS - 1.19%
3,800	*	ACE Ltd	$	209,342
6,700		Aetna, Inc		271,551
7,300		Aflac, Inc		458,440
100	*	Philadelphia Consolidated Holding Co		3,397
6,700		Prudential Financial, Inc		400,258
400		Transatlantic Holdings, Inc		22,588
6,300		UnitedHealth Group, Inc		165,375
4,900	*	WellCare Health Plans, Inc		177,135
		TOTAL INSURANCE CARRIERS		1,708,086
LEATHER AND LEATHER PRODUCTS - 0.19%
9,600	*	Coach, Inc		277,248
		TOTAL LEATHER AND LEATHER PRODUCTS		277,248
METAL MINING - 0.55%
100		Cleveland-Cliffs, Inc		11,919
4,100		Freeport-McMoRan Copper & Gold, Inc (Class B)		480,479
5,600		Newmont Mining Corp		292,096
		TOTAL METAL MINING		784,494
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.26%
10,600		Hasbro, Inc		378,632
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		378,632
MISCELLANEOUS RETAIL - 1.68%
6,400	*	Amazon.com, Inc		469,312
800		Barnes & Noble, Inc		19,872
8,600		Best Buy Co, Inc		340,560
9,300		CVS Corp		368,001
8,400	*	Dollar Tree, Inc		274,596
1,000		Nutri/System, Inc		14,140
30,500		Staples, Inc		724,375
6,000		Walgreen Co		195,060
		TOTAL MISCELLANEOUS RETAIL		2,405,916
MOTION PICTURES - 0.85%
5,100	*	DreamWorks Animation SKG, Inc (Class A)		152,031
23,200		News Corp (Class A)		348,928
17,800		Time Warner, Inc		263,440
14,900	*	Viacom, Inc (Class B)		455,046
		TOTAL MOTION PICTURES		1,219,445
NONDEPOSITORY INSTITUTIONS - 0.89%
27,800		American Express Co		1,047,226
1,600	*	AmeriCredit Corp		13,792
5,600		Discover Financial Services		73,752
5,400	*	SLM Corp		104,490
800		Textron, Inc		38,344
		TOTAL NONDEPOSITORY INSTITUTIONS		1,277,604
OIL AND GAS EXTRACTION - 6.11%
100	*	Cameron International Corp		5,535
400	*	Continental Resources, Inc		27,728

359

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
7,000	*	Denbury Resources, Inc	$	255,500
100		Diamond Offshore Drilling, Inc		13,914
6,900		ENSCO International, Inc		557,106
13,000		Halliburton Co		689,910
14,700	*	National Oilwell Varco, Inc		1,304,184
8,800		Noble Corp		571,648
2,100	*	Plains Exploration & Production Co		153,237
2,500		Range Resources Corp		163,850
21,900		Schlumberger Ltd		2,352,717
100		Smith International, Inc		8,314
1,300	*	Southwestern Energy Co		61,893
2,000	*	Superior Energy Services		110,280
10,100		Transocean, Inc		1,539,139
4,100	*	Unit Corp		340,177
4,000		W&T Offshore, Inc		234,040
5,300		XTO Energy, Inc		363,103
		TOTAL OIL AND GAS EXTRACTION		8,752,275
PERSONAL SERVICES - 0.09%
3,400		Weight Watchers International, Inc		121,074
		TOTAL PERSONAL SERVICES		121,074
PETROLEUM AND COAL PRODUCTS - 4.78%
2,600		Cabot Oil & Gas Corp		176,098
4,000		EOG Resources, Inc		524,800
29,700		Exxon Mobil Corp		2,617,461
6,000		Hess Corp		757,140
1,500		Holly Corp		55,380
4,000		Murphy Oil Corp		392,200
5,500		Noble Energy, Inc		553,080
17,500	*	Occidental Petroleum Corp		1,572,550
1,700	*	SandRidge Energy, Inc		109,786
2,300		Sunoco, Inc		93,587
		TOTAL PETROLEUM AND COAL PRODUCTS		6,852,082
PRIMARY METAL INDUSTRIES - 1.64%
5,500		AK Steel Holding Corp		379,500
300		Allegheny Technologies, Inc		17,784
300	*	CommScope, Inc		15,831
21,300		Corning, Inc		490,965
700		Hubbell, Inc (Class B)		27,909
5,600		Nucor Corp		418,152
4,400		Precision Castparts Corp		424,028
3,500		Steel Dynamics, Inc		136,745
2,400		United States Steel Corp		443,472
		TOTAL PRIMARY METAL INDUSTRIES		2,354,386
PRINTING AND PUBLISHING - 0.23%
2,700		Dun & Bradstreet Corp		236,628
1,900		John Wiley & Sons, Inc (Class A)		85,557
		TOTAL PRINTING AND PUBLISHING		322,185
RAILROAD TRANSPORTATION - 1.89%
13,300		Burlington Northern Santa Fe Corp		1,328,537

360

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
8,200		CSX Corp	$	515,042
6,400		Norfolk Southern Corp		401,088
6,200		Union Pacific Corp		468,100
		TOTAL RAILROAD TRANSPORTATION		2,712,767
REAL ESTATE - 0.02%
400		Jones Lang LaSalle, Inc		24,076
		TOTAL REAL ESTATE		24,076
RUBBER AND MISCELLANEOUS PLASTIC PRODUCT - 0.36%
8,700		Nike, Inc (Class B)		518,607
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		518,607
SECURITY AND COMMODITY BROKERS - 1.97%
7,300		Broadridge Financial Solutions, Inc		153,665
4,100		Charles Schwab Corp		84,214
14,700	*	E*Trade Financial Corp		46,158
7,000		Eaton Vance Corp		278,320
10,200		Federated Investors, Inc (Class B)		351,084
2,700		Franklin Resources, Inc		247,455
2,100	*	IntercontinentalExchange, Inc		239,400
17,800		Invesco Ltd		426,844
400	*	MF Global Ltd		2,524
10,900	*	Nasdaq Stock Market, Inc		289,395
3,000		NYSE Euronext		151,980
7,500		SEI Investments Co		176,400
4,800		T Rowe Price Group, Inc		271,056
6,100	*	TD Ameritrade Holding Corp		110,349
		TOTAL SECURITY AND COMMODITY BROKERS		2,828,844
STONE, CLAY, AND GLASS PRODUCTS - 0.71%
11,600		3M Co		807,244
4,900	*	Owens-Illinois, Inc		204,281
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		1,011,525
TOBACCO PRODUCTS - 2.35%
61,100		Altria Group, Inc		1,256,216
1,400	*	Lorillard, Inc		96,824
40,800		Philip Morris International, Inc		2,015,112
		TOTAL TOBACCO PRODUCTS		3,368,152
TRANSPORTATION BY AIR - 0.07%
10,100	*	AMR Corp		51,712
2,500	*	Continental Airlines, Inc (Class B)		25,275
2,100		Southwest Airlines Co		27,384
		TOTAL TRANSPORTATION BY AIR		104,371
TRANSPORTATION EQUIPMENT - 2.85%
3,700		Autoliv, Inc		172,494
26,300		Boeing Co		1,728,436
3,200		General Dynamics Corp		269,440
2,300		Goodrich Corp		109,158
6,700		Lockheed Martin Corp		661,022
6,300		Northrop Grumman Corp		421,470

361

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
SHARES		COMPANY		VALUE
3,500		Oshkosh Truck Corp	$	72,415
500		Paccar, Inc		20,915
4,500	*	Pactiv Corp		95,535
100		Raytheon Co		5,628
8,500		United Technologies Corp		524,450
		TOTAL TRANSPORTATION EQUIPMENT		4,080,963
TRANSPORTATION SERVICES - 0.37%
5,700		CH Robinson Worldwide, Inc		312,588
2,500		Expeditors International Washington, Inc		107,500
5,300		UTI Worldwide, Inc		105,735
		TOTAL TRANSPORTATION SERVICES		525,823
TRUCKING AND WAREHOUSING - 0.43%
4,100		Con-way, Inc		193,766
4,500		Landstar System, Inc		248,490
2,800		United Parcel Service, Inc (Class B)		172,116
		TOTAL TRUCKING AND WAREHOUSING		614,372
WATER TRANSPORTATION - 0.12%
600		Frontline Ltd		41,868
2,800	*	Kirby Corp		134,400
		TOTAL WATER TRANSPORTATION		176,268
WHOLESALE TRADE-DURABLE GOODS - 0.49%
7,000	*	Arrow Electronics, Inc		215,040
3,900		BorgWarner, Inc		173,082
6,200	*	Patterson Cos, Inc		182,218
700		Pool Corp		12,432
1,400		Reliance Steel & Aluminum Co		107,926
400	*	WESCO International, Inc		16,016
		TOTAL WHOLESALE TRADE-DURABLE GOODS		706,714
WHOLESALE TRADE-NONDURABLE GOODS - 1.21%
5,700		Airgas, Inc		332,823
4,800	*	Bare Escentuals, Inc		89,904
5,000		Cardinal Health, Inc		257,900
6,400	*	Endo Pharmaceuticals Holdings, Inc		154,816
400	*	Henry Schein, Inc		20,628
7,600		Herbalife Ltd		294,500
21,300		Sysco Corp		585,963
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		1,736,534
		TOTAL COMMON STOCKS		143,092,213
		(Cost $146,328,254)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 0.23%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.23%
$      330,000		Federal Home Loan Bank (FHLB), 07/01/08		330,000
				330,000

362

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Growth Index Fund
		COMPANY		VALUE
		TOTAL SHORT TERM INVESTMENTS	$	330,000
		(Cost $330,000)
		TOTAL PORTFOLIO - 100.09%		143,422,213
		(Cost $146,658,254)
		OTHER ASSETS & LIABILITIES, NET - (0.09)%		(123,859	)
		NET ASSETS - 100.00%	$	143,298,354
	*	Non-income producing
		At June 30, 2008, the unrealized depreciation on investments was $3,236,041, consisting of
		gross unrealized appreciation of $3,337,011 and gross unrealized depreciation of $6,573,052.

363

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)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.61%
AMUSEMENT AND RECREATION SERVICES - 0.88%
1,550		International Speedway Corp (Class A)	$	60,497
27,366		Walt Disney Co		853,819
3,872		Warner Music Group Corp		27,646
		TOTAL AMUSEMENT AND RECREATION SERVICES		941,962
APPAREL AND ACCESSORY STORES - 0.27%
863		American Eagle Outfitters, Inc		11,763
426	*	AnnTaylor Stores Corp		10,207
12,599		Gap, Inc		210,025
594	*	Kohl's Corp		23,784
1,643		Limited Brands, Inc		27,685
		TOTAL APPAREL AND ACCESSORY STORES		283,464
APPAREL AND OTHER TEXTILE PRODUCTS - 0.28%
4,203		VF Corp		299,170
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		299,170
AUTO REPAIR, SERVICES AND PARKING - 0.03%
352	*	Federal Mogul Corp (Class A)		5,678
3,107	*	Hertz Global Holdings, Inc		29,827
		TOTAL AUTO REPAIR, SERVICES AND PARKING		35,505
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.83%
16,435		Home Depot, Inc		384,908
24,010		Lowe's Cos, Inc		498,208
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		883,116
BUSINESS SERVICES - 1.11%
2,035	*	Affiliated Computer Services, Inc (Class A)		108,852
137	*	Avis Budget Group, Inc		1,147
896		CA, Inc		20,689
908	*	Cadence Design Systems, Inc		9,171
5,266	*	Compuware Corp		50,238
2,161		Electronic Data Systems Corp		53,247
2,071		Fidelity National Information Services, Inc		76,441
1,675	*	Getty Images, Inc		56,833
11,939		IMS Health, Inc		278,179
1,224		Manpower, Inc		71,286
270	*	McAfee, Inc		9,188
2,881	*	Sun Microsystems, Inc		31,345
20,343	*	Symantec Corp		393,637
1,215	*	United Rentals, Inc		23,826
		TOTAL BUSINESS SERVICES		1,184,079
CHEMICALS AND ALLIED PRODUCTS - 9.44%

364

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
23,385	*	Amgen, Inc	$	1,102,837
262	*	Biogen Idec, Inc		14,643
1,148		Chemtura Corp		6,704
880		Clorox Co		45,936
1,023		Colgate-Palmolive Co		70,689
590		Cytec Industries, Inc		32,190
20,718		Dow Chemical Co		723,265
2,800		Du Pont (E.I.) de Nemours & Co		120,092
12,476		Eli Lilly & Co		575,892
4,829	*	Forest Laboratories, Inc		167,759
8,881		Huntsman Corp		101,243
26,541	*	King Pharmaceuticals, Inc		277,884
6,371		Lubrizol Corp		295,168
36,791		Merck & Co, Inc		1,386,653
275		Mosaic Co		39,793
447	*	NBTY, Inc		14,331
129,359		Pfizer, Inc		2,259,902
3,176		PPG Industries, Inc		182,207
29,551		Procter & Gamble Co		1,796,996
215		Valspar Corp		4,066
18,141		Wyeth		870,042
		TOTAL CHEMICALS AND ALLIED PRODUCTS		10,088,292
COMMUNICATIONS - 6.68%
110,905		AT&T, Inc		3,736,389
100	*	Cablevision Systems Corp (Class A)		2,260
12,467	*	CenturyTel, Inc		443,701
3,710		Clear Channel Communications, Inc		130,592
13,163		Comcast Corp (Class A)		249,702
100		Embarq Corp		4,727
115		Hearst-Argyle Television, Inc		2,208
5,800	*	IAC/InterActiveCorp		111,824
217	*	Liberty Global, Inc (Series C)		6,588
8,431	*	Liberty Media Corp - Capital (Series A)		121,406
5,576	*	Liberty Media Corp - Entertainment (Series A)		135,106
29,747		Qwest Communications International, Inc		116,906
63,535		Sprint Nextel Corp		603,583
100	*	US Cellular Corp		5,655
37,808		Verizon Communications, Inc		1,338,403
10,507		Windstream Corp		129,656
		TOTAL COMMUNICATIONS		7,138,706
DEPOSITORY INSTITUTIONS - 10.71%
73,562		Bank of America Corp		1,755,925
1,921		Bank of Hawaii Corp		91,824
27,765		Bank of New York Mellon Corp		1,050,350
76,150		Citigroup, Inc		1,276,274
153		Colonial Bancgroup, Inc		676
8,233		Comerica, Inc		211,012
1,248		Commerce Bancshares, Inc		49,496
1,424		Cullen/Frost Bankers, Inc		70,986
132		First Citizens Bancshares, Inc (Class A)		18,413
21,587		First Horizon National Corp		160,391
7,982		Fulton Financial Corp		80,219

365

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
59,608		JPMorgan Chase & Co	$	2,045,150
3,380		Keycorp		37,112
6,125		M&T Bank Corp		432,058
6,462		National City Corp		30,824
1,607		Northern Trust Corp		110,192
1,509		PNC Financial Services Group, Inc		86,164
4,061		Popular, Inc		26,762
6,244		State Street Corp		399,554
4,833		SunTrust Banks, Inc		175,051
27,093		US Bancorp		755,624
5,888		Valley National Bancorp		92,854
26,942		Wachovia Corp		418,409
32,603		Washington Mutual, Inc		160,733
5,589		Webster Financial Corp		103,955
57,126		Wells Fargo & Co		1,356,743
6,198		Western Union Co		153,215
9,466		Zions Bancorporation		298,084
		TOTAL DEPOSITORY INSTITUTIONS		11,448,050
ELECTRIC, GAS, AND SANITARY SERVICES - 7.38%
19,409		American Electric Power Co, Inc		780,824
3,479		Constellation Energy Group, Inc		285,626
16,272		Duke Energy Corp		282,807
16,181		Edison International		831,380
7,049		Energen Corp		550,033
1,097		Energy East Corp		27,118
6,758		Exelon Corp		607,950
5,698		FirstEnergy Corp		469,116
15,043		FPL Group, Inc		986,520
1,909		Hawaiian Electric Industries, Inc		47,210
4,327		Integrys Energy Group, Inc		219,941
5,533		National Fuel Gas Co		329,103
10,870		NiSource, Inc		194,790
10,057		Northeast Utilities		256,755
11,424		Pepco Holdings, Inc		293,026
3,875		PG&E Corp		153,799
4,463		PPL Corp		233,281
10,730		Progress Energy, Inc		448,836
5,712		Public Service Enterprise Group, Inc		262,352
5,678	*	Reliant Energy, Inc		120,771
2,416		SCANA Corp		89,392
4,761		Sempra Energy		268,758
48		Southern Co		1,676
10		Southern Union Co		270
134		TECO Energy, Inc		2,880
4,959		UGI Corp		142,373
116		Xcel Energy, Inc		2,328
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		7,888,915
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.67%
6,878	*	Avnet, Inc		187,632
477		AVX Corp		5,395
187		Cooper Industries Ltd (Class A)		7,387
2,958		Eaton Corp		251,341

366

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
637	*	EchoStar Corp (Class A)	$	19,887
3,147		Honeywell International, Inc		158,231
5,659	*	Integrated Device Technology, Inc		56,250
13,543		Intel Corp		290,904
787	*	JDS Uniphase Corp		8,940
12,309	*	LSI Logic Corp		75,577
22,161		Motorola, Inc		162,662
640	*	QLogic Corp		9,338
16,783		RadioShack Corp		205,927
301	*	Spansion, Inc (Class A)		677
3,499		Teleflex, Inc		194,509
162	*	Thomas & Betts Corp		6,132
16,874	*	Vishay Intertechnology, Inc		149,672
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		1,790,461
ENGINEERING AND MANAGEMENT SERVICES - 0.20%
1,753	*	Hewitt Associates, Inc (Class A)		67,192
372		KBR, Inc		12,987
3,290		Moody's Corp		113,308
182	*	Shaw Group, Inc		11,246
100	*	URS Corp		4,197
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		208,930
FABRICATED METAL PRODUCTS - 0.84%
10,694		Illinois Tool Works, Inc		508,072
1,940		Parker Hannifin Corp		138,361
210		Snap-On, Inc		10,922
5,442		Stanley Works		243,965
		TOTAL FABRICATED METAL PRODUCTS		901,320
FOOD AND KINDRED PRODUCTS - 3.35%
6,170		Anheuser-Busch Cos, Inc		383,280
6,097		Archer Daniels Midland Co		205,774
15,065		Coca-Cola Co		783,079
14,387		Coca-Cola Enterprises, Inc		248,895
3,987		Corn Products International, Inc		195,802
16,131		Del Monte Foods Co		114,530
5,428	*	Dr Pepper Snapple Group, Inc		113,879
4,929		General Mills, Inc		299,535
2,819		J.M. Smucker Co		114,564
26,845		Kraft Foods, Inc (Class A)		763,740
442		Molson Coors Brewing Co (Class B)		24,014
4,639		Pepsi Bottling Group, Inc		129,521
5,312		PepsiAmericas, Inc		105,071
2,111		Reynolds American, Inc		98,520
127		Tyson Foods, Inc (Class A)		1,897
		TOTAL FOOD AND KINDRED PRODUCTS		3,582,101
FOOD STORES - 0.35%
4,026		Safeway, Inc		114,942
8,256	*	Supervalu, Inc		255,028
		TOTAL FOOD STORES		369,970

367

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
FURNITURE AND FIXTURES - 0.00% **
100		Johnson Controls, Inc	$	2,868
		TOTAL FURNITURE AND FIXTURES		2,868
FURNITURE AND HOME FURNISHINGS STORES - 0.16%
2,680	*	Mohawk Industries, Inc		171,788
		TOTAL FURNITURE AND HOME FURNISHINGS STORES		171,788
GENERAL BUILDING CONTRACTORS - 0.71%
8,159		Centex Corp		109,086
14,593		DR Horton, Inc		158,334
7,897		KB Home		133,696
8,153		Lennar Corp (Class A)		100,608
3,892		MDC Holdings, Inc		152,022
11,125		Pulte Homes, Inc		107,134
		TOTAL GENERAL BUILDING CONTRACTORS		760,880
GENERAL MERCHANDISE STORES - 1.33%
3,656		Family Dollar Stores, Inc		72,901
1,625		JC Penney Co, Inc		58,971
17,122		Macy's, Inc		332,509
17,094		Wal-Mart Stores, Inc		960,683
		TOTAL GENERAL MERCHANDISE STORES		1,425,064
HEALTH SERVICES - 0.97%
8,457		Cigna Corp		299,293
1,923	*	Coventry Health Care, Inc		58,498
102	*	Pediatrix Medical Group, Inc		5,021
14,163	*	WellPoint, Inc		675,009
		TOTAL HEALTH SERVICES		1,037,821
HOLDING AND OTHER INVESTMENT OFFICES - 2.32%
12,008		Annaly Mortgage Management, Inc		186,244
10,151		Apartment Investment & Management Co (Class A)		345,743
5,896		Brandywine Realty Trust		92,921
8,091		CBL & Associates Properties, Inc		184,798
210		Douglas Emmett, Inc		4,614
100		Duke Realty Corp		2,245
200		Equity Residential		7,654
6,420		General Growth Properties, Inc		224,893
10,990		HCP, Inc		349,592
4,281		Host Marriott Corp		58,436
2,049		HRPT Properties Trust		13,872
8,070		Liberty Property Trust		267,521
1,812		Mack-Cali Realty Corp		61,916
1,456		Nationwide Health Properties, Inc		45,849
1,510		Prologis		82,069
1,655		Public Storage, Inc		133,707
5,327		Taubman Centers, Inc		259,159
1,803		Ventas, Inc		76,754
6,360		Virgin Media, Inc		86,560
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		2,484,547
HOTELS AND OTHER LODGING PLACES - 0.12%
295		Choice Hotels International, Inc		7,817

368

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
6,661		Wyndham Worldwide Corp	$	119,299
		TOTAL HOTELS AND OTHER LODGING PLACES		127,116
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.36%
292	*	AGCO Corp		15,304
1,602		Black & Decker Corp		92,131
5,414	*	Brocade Communications Systems, Inc		44,611
9,164		Dover Corp		443,263
3,225	*	EMC Corp		47,375
1,823	*	Gardner Denver, Inc		103,546
189,514		General Electric Co		5,058,129
9,107		Jabil Circuit, Inc		149,446
164	*	Lam Research Corp		5,929
365	*	Lexmark International, Inc (Class A)		12,202
1,143	*	Oil States International, Inc		72,512
20,916		Seagate Technology, Inc		400,123
5,166	*	Teradata Corp		119,541
1,619	*	Terex Corp		83,168
4,440	*	Western Digital Corp		153,313
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		6,800,593
INSTRUMENTS AND RELATED PRODUCTS - 2.79%
18,883	*	Boston Scientific Corp		232,072
422		Emerson Electric Co		20,868
1,183	*	Hologic, Inc		25,789
39,596		Johnson & Johnson		2,547,607
5,462		Xerox Corp		74,065
1,270	*	Zimmer Holdings, Inc		86,423
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		2,986,824
INSURANCE AGENTS, BROKERS AND SERVICE - 0.35%
5,862		Hartford Financial Services Group, Inc		378,509
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		378,509
INSURANCE CARRIERS - 7.13%
13,335	*	ACE Ltd		734,625
7,254		Aetna, Inc		294,005
723		Aflac, Inc		45,404
2,592		Allied World Assurance Holdings Ltd		102,695
580		Allstate Corp		26,442
39,740		American International Group, Inc		1,051,520
282		American National Insurance Co		27,642
2,239	*	Arch Capital Group Ltd		148,490
1,420		Assurant, Inc		93,663
8,159		Axis Capital Holdings Ltd		243,220
14,464		Chubb Corp		708,881
260		Erie Indemnity Co (Class A)		11,999
1,885		Everest Re Group Ltd		150,253
11,213		Genworth Financial, Inc (Class A)		199,704
8,792		HCC Insurance Holdings, Inc		185,863
1,220	*	Humana, Inc		48,519
1,964		Lincoln National Corp		89,008
13,832		Loews Corp		648,721
6,324		Metlife, Inc		333,717

369

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
4,384		MGIC Investment Corp	$	26,786
277		Nationwide Financial Services, Inc (Class A)		13,299
1,650	*	Philadelphia Consolidated Holding Co		56,051
1,925		Principal Financial Group		80,792
2,934		Protective Life Corp		111,639
9,932		Prudential Financial, Inc		593,338
4,621		RenaissanceRe Holdings Ltd		206,420
3,410		Stancorp Financial Group, Inc		160,134
5,057		Torchmark Corp		296,593
616		Transatlantic Holdings, Inc		34,786
6,542		Travelers Cos, Inc		283,923
13,420		UnitedHealth Group, Inc		352,275
1,325		UnumProvident Corp		27,096
9,591		W.R. Berkley Corp		231,719
27		XL Capital Ltd (Class A)		555
		TOTAL INSURANCE CARRIERS		7,619,777
METAL MINING - 0.82%
7,486		Freeport-McMoRan Copper & Gold, Inc (Class B)		877,284
		TOTAL METAL MINING		877,284
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.37%
169		Armstrong World Industries, Inc		4,938
9,006		Hasbro, Inc		321,694
212	*	Intrepid Potash, Inc		13,945
2,898		Mattel, Inc		49,614
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		390,191
MISCELLANEOUS RETAIL - 0.29%
3,008		CVS Corp		119,027
505	*	Dollar Tree, Inc		16,508
7,053		OfficeMax, Inc		98,037
47,910	*	Rite Aid Corp		76,177
		TOTAL MISCELLANEOUS RETAIL		309,749
MOTION PICTURES - 1.73%
28,628		CBS Corp (Class B)		557,960
41,857		News Corp (Class A)		629,529
43,624		Time Warner, Inc		645,635
541	*	Viacom, Inc (Class B)		16,522
		TOTAL MOTION PICTURES		1,849,646
NONDEPOSITORY INSTITUTIONS - 1.45%
2,725		American Express Co		102,651
1,735	*	AmeriCredit Corp		14,956
13,629		Capital One Financial Corp		518,038
21,936		Countrywide Financial Corp		93,228
20,435		Discover Financial Services		269,129
25,425	*	Fannie Mae		496,042
7,718		GLG Partners, Inc		60,200
154	*	Guaranty Financial Group, Inc		827
		TOTAL NONDEPOSITORY INSTITUTIONS		1,555,071

370

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
OIL AND GAS EXTRACTION - 1.31%
5,860		Anadarko Petroleum Corp	$	438,562
192		Cimarex Energy Co		13,377
3,430		ENSCO International, Inc		276,938
2,149	*	Nabors Industries Ltd		105,795
3,101		Patterson-UTI Energy, Inc		111,760
1,952	*	Pride International, Inc		92,310
578		Tidewater, Inc		37,587
2,183	*	Unit Corp		181,124
2,041		XTO Energy, Inc		139,829
		TOTAL OIL AND GAS EXTRACTION		1,397,282
PAPER AND ALLIED PRODUCTS - 0.49%
5,708	*	Domtar Corporation		31,109
11,417		International Paper Co		266,016
510		Kimberly-Clark Corp		30,488
6,470		Sonoco Products Co		200,246
		TOTAL PAPER AND ALLIED PRODUCTS		527,859
PERSONAL SERVICES - 0.12%
4,776		Cintas Corp		126,612
		TOTAL PERSONAL SERVICES		126,612
PETROLEUM AND COAL PRODUCTS - 17.24%
8,404		Apache Corp		1,168,156
39,471		Chevron Corp		3,912,760
30,633		ConocoPhillips		2,891,449
9,994		Devon Energy Corp		1,200,879
78,477		Exxon Mobil Corp		6,916,178
19,583		Marathon Oil Corp		1,015,770
5,082		Noble Energy, Inc		511,046
4,464		Occidental Petroleum Corp		401,135
798		Sunoco, Inc		32,471
1,600		Tesoro Corp		31,632
8,498		Valero Energy Corp		349,948
		TOTAL PETROLEUM AND COAL PRODUCTS		18,431,424
PRIMARY METAL INDUSTRIES - 0.38%
2,837		Carpenter Technology Corp		123,835
3,774		Nucor Corp		281,805
		TOTAL PRIMARY METAL INDUSTRIES		405,640
PRINTING AND PUBLISHING - 0.32%
260		Dun & Bradstreet Corp		22,786
8,837		Gannett Co, Inc		191,498
2,788		McGraw-Hill Cos, Inc		111,855
464		Meredith Corp		13,127
		TOTAL PRINTING AND PUBLISHING		339,266
RAILROAD TRANSPORTATION - 0.68%
2,651		CSX Corp		166,509
8,894		Norfolk Southern Corp		557,387
		TOTAL RAILROAD TRANSPORTATION		723,896

371

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.06%
1,404	*	Goodyear Tire & Rubber Co	$	25,033
2,189		Newell Rubbermaid, Inc		36,753
100		Sealed Air Corp		1,901
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		63,687
SECURITY AND COMMODITY BROKERS - 3.07%
8,780		Ameriprise Financial, Inc		357,083
329	*	CME Group, Inc		126,069
10,866	*	E*Trade Financial Corp		34,119
6,089		Goldman Sachs Group, Inc		1,064,966
19,187		Invesco Ltd		460,104
1,044		Lehman Brothers Holdings, Inc		20,682
8,223		Merrill Lynch & Co, Inc		260,751
2,922	*	MF Global Ltd		18,438
15,114		Morgan Stanley		545,162
9,926	*	Nasdaq Stock Market, Inc		263,535
5,062		Raymond James Financial, Inc		133,586
		TOTAL SECURITY AND COMMODITY BROKERS		3,284,495
STONE, CLAY, AND GLASS PRODUCTS - 0.23%
2,239		3M Co		155,812
2,221	*	Owens-Illinois, Inc		92,593
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		248,405
TOBACCO PRODUCTS - 0.37%
9,032		Altria Group, Inc		185,698
4,328		Philip Morris International, Inc		213,760
		TOTAL TOBACCO PRODUCTS		399,458
TRANSPORTATION BY AIR - 0.45%
2,087	*	AMR Corp		10,685
1,612	*	Continental Airlines, Inc (Class B)		16,297
2,855		FedEx Corp		224,945
2,524	*	Northwest Airlines Corp		16,810
16,353		Southwest Airlines Co		213,243
		TOTAL TRANSPORTATION BY AIR		481,980
TRANSPORTATION EQUIPMENT - 2.67%
6,406		Autoliv, Inc		298,648
23,299	*	Ford Motor Co		112,068
8,813		General Dynamics Corp		742,055
1,217		Genuine Parts Co		48,291
12,711		Northrop Grumman Corp		850,366
344		Oshkosh Truck Corp		7,117
2,226	*	Pactiv Corp		47,258
7,178	*	TRW Automotive Holdings Corp		132,578
10,003		United Technologies Corp		617,185
		TOTAL TRANSPORTATION EQUIPMENT		2,855,566
TRUCKING AND WAREHOUSING - 0.06%
1,257		Con-way, Inc		59,406
		TOTAL TRUCKING AND WAREHOUSING		59,406

372

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Enhanced Large-Cap Value Index Fund
SHARES		COMPANY		VALUE
WATER TRANSPORTATION - 0.04%
1,145		Carnival Corp	$	37,739
		TOTAL WATER TRANSPORTATION		37,739
WHOLESALE TRADE-DURABLE GOODS - 1.00%
12,311	*	Arrow Electronics, Inc		378,194
6,042	*	Ingram Micro, Inc (Class A)		107,245
6,763		Reliance Steel & Aluminum Co		521,360
1,659	*	Tech Data Corp		56,224
180	*	WESCO International, Inc		7,207
		TOTAL WHOLESALE TRADE-DURABLE GOODS		1,070,230
WHOLESALE TRADE-NONDURABLE GOODS - 0.20%
3,682		Airgas, Inc		214,992
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		214,992
		TOTAL COMMON STOCKS		106,489,706
		(Cost $115,487,258)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 0.41%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.41%
$      440,000		Federal Home Loan Bank (FHLB), 07/01/08		440,000
				440,000
		TOTAL SHORT-TERM INVESTMENTS		440,000
		(Cost $440,000)
		TOTAL PORTFOLIO - 100.02%		106,929,706
		(Cost $115,927,258)
				(26,574	)
		OTHER ASSETS & LIABILITIES, NET - (0.02)%
		NET ASSETS - 100.00%	$	106,903,132
	*	Non-income producing
	**	Percentage represents less than 0.01%.
		At June 30, 2008, the net unrealized depreciation on investments was $8,997,552,
		consisting of gross unrealized appreciation of $2,017,947 and gross unrealized depreciation of
		$11,015,499.

373

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SOCIAL CHOICE EQUITY FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
AMUSEMENT AND RECREATION SERVICES - 0.89%
171,742		Walt Disney Co	$	5,358,350
		TOTAL AMUSEMENT AND RECREATION SERVICES		5,358,350
APPAREL AND ACCESSORY STORES - 0.52%
11,133		American Eagle Outfitters, Inc		151,743
933	*	AnnTaylor Stores Corp		22,355
1,450		Cato Corp (Class A)		20,648
1,936	*	Charming Shoppes, Inc		8,886
7,029	*	Chico's FAS, Inc		37,746
8,780		Foot Locker, Inc		109,311
48,381		Gap, Inc		806,511
20,323	*	Kohl's Corp		813,733
26,865		Limited Brands, Inc		452,675
13,832		Nordstrom, Inc		419,110
1,000	*	Pacific Sunwear Of California, Inc		8,530
7,978		Ross Stores, Inc		283,378
1,873		Stage Stores, Inc		21,858
		TOTAL APPAREL AND ACCESSORY STORES		3,156,484
APPAREL AND OTHER TEXTILE PRODUCTS - 0.10%
77		Columbia Sportswear Co		2,830
4,748		Liz Claiborne, Inc		67,184
1,177		Phillips-Van Heusen Corp		43,102
1,841		Polo Ralph Lauren Corp		115,578
5,110		VF Corp		363,730
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		592,424
AUTO REPAIR, SERVICES AND PARKING - 0.04%
10,649	*	Hertz Global Holdings, Inc		102,230
1,721		Ryder System, Inc		118,543
1,419	*	Wright Express Corp		35,191
		TOTAL AUTO REPAIR, SERVICES AND PARKING		255,964
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.09%
533		Advance Auto Parts		20,696
3,098	*	Autozone, Inc		374,889
5,478	*	Carmax, Inc		77,733
1,431	*	Copart, Inc		61,276
2,611	*	Rush Enterprises, Inc (Class A)		31,358
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		565,952
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.89%
2,067		Fastenal Co		89,212
148,842		Home Depot, Inc		3,485,880

374

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
88,337		Lowe's Cos, Inc	$	1,832,993
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		5,408,085
BUSINESS SERVICES - 6.36%
24,436	*	3Com Corp		51,804
6,044	*	3D Systems Corp		57,418
626		Administaff, Inc		17,459
31,753	*	Adobe Systems, Inc		1,250,751
8,651	*	Akamai Technologies, Inc		300,968
3,093	*	Alliance Data Systems Corp		174,909
27,840	*	Art Technology Group, Inc		89,088
10,378	*	Autodesk, Inc		350,880
66,865		Automatic Data Processing, Inc		2,801,643
49	*	Avocent Corp		911
6,444	v*	BearingPoint, Inc		5,284
1,800	*	Blackboard, Inc		68,814
3,880	*	Blue Coat Systems, Inc		54,747
12,417	*	BMC Software, Inc		447,012
1,978	*	Bottomline Technologies, Inc		19,246
2,400	*	BPZ Energy, Inc		70,560
305		Brink's Co		19,953
2,813	*	Cerner Corp		127,091
4,688	*	Ciber, Inc		29,112
6,958	*	Citrix Systems, Inc		204,635
5,413	*	CMGI, Inc		57,378
6,284	*	Cogent, Inc		71,449
600		Cognex Corp		13,830
12,426	*	Compuware Corp		118,544
9,356	*	COMSYS IT Partners, Inc		85,327
253	*	CSG Systems International, Inc		2,788
6,181	*	Deltek, Inc		46,852
2,857		Deluxe Corp		50,912
6,173	*	DivX, Inc		45,310
7,737	*	DST Systems, Inc		425,922
4,140	*	Earthlink, Inc		35,811
60,259	*	eBay, Inc		1,646,878
196	*	Eclipsys Corp		3,599
1,898	*	Equinix, Inc		169,340
14,060	*	Expedia, Inc		258,423
3,385		Fair Isaac Corp		70,306
149	*	Gartner, Inc		3,087
989	*	Gerber Scientific, Inc		11,255
2,062	*	Getty Images, Inc		69,964
10,431		Gevity HR, Inc		56,119
10,925	*	Google, Inc (Class A)		5,751,139
295	*	Hudson Highland Group, Inc		3,089
1,420	*	iGate Corp		11,545
14,779		IMS Health, Inc		344,351
11,824	*	Informatica Corp		177,833
32,577	*	Innovative Solutions & Support, Inc		210,122
1,537		Interactive Data Corp		38,625
5,595	*	Internap Network Services Corp		26,185
2,420	*	Interwoven, Inc		29,064
18,694	*	Intuit, Inc		515,394
400	*	inVentiv Health, Inc		11,116

375

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
3,346	*	Ipass, Inc	$	6,926
6,475	*	Iron Mountain, Inc		171,911
6,833		Jack Henry & Associates, Inc		147,866
3,856	*	Kinetic Concepts, Inc		153,893
4,812	*	Lamar Advertising Co (Class A)		173,376
4,517	*	Lawson Software, Inc		32,839
2,066	*	Lionbridge Technologies		5,330
3,792	*	Liquidity Services, Inc		43,722
3,000	*	Magma Design Automation, Inc		18,210
2,659		Manpower, Inc		154,860
6,347		Marchex, Inc (Class B)		78,195
7,427	*	Mentor Graphics Corp		117,347
437,347		Microsoft Corp		12,031,416
60,232	v	MoneyGram International, Inc		54,811
4,881	*	Monster Worldwide, Inc		100,597
685	*	MPS Group, Inc		7,282
12,062	*	Network Equipment Technologies, Inc		42,820
22,052		NIC, Inc		150,615
21,969	*	Novell, Inc		129,397
10,534	*	Nuance Communications, Inc		165,068
32,700		Omnicom Group, Inc		1,467,576
2,876	*	Parametric Technology Corp		47,943
926	*	PeopleSupport, Inc		7,871
1,100		QAD, Inc		7,447
17,622	*	Radisys Corp		159,655
8,052	*	RealNetworks, Inc		53,143
11,325	*	Red Hat, Inc		234,314
10,204		Robert Half International, Inc		244,590
8,479	*	S1 Corp		64,186
6,589	*	Salesforce.com, Inc		449,567
12,320	*	Sapient Corp		79,094
6,096	*	Smith Micro Software, Inc		34,747
3,590	*	SonicWALL, Inc		23,156
29,587	*	Sonus Networks, Inc		101,188
57,616	*	Sun Microsystems, Inc		626,862
1,600	*	Sybase, Inc		47,072
67,752	*	Symantec Corp		1,311,001
3,047	*	Synchronoss Technologies, Inc		27,514
4,149	*	SYNNEX Corp		104,098
1,481	*	TeleTech Holdings, Inc		29,561
8,575	*	TIBCO Software, Inc		65,599
8,903	*	TNS, Inc		213,316
20,022		Total System Services, Inc		444,889
2,880	*	TradeStation Group, Inc		29,232
882	*	Trizetto Group, Inc		18,857
3,040	*	Ultimate Software Group, Inc		108,315
11,298	*	Unisys Corp		44,627
2,536		United Online, Inc		25,436
3,555	*	Vasco Data Security International		37,434
457		Viad Corp		11,786
9,766	*	VirnetX Holding Corp		45,900
24,105		Visa, Inc (Class A)		1,959,978
		TOTAL BUSINESS SERVICES		38,416,277

376

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
CHEMICALS AND ALLIED PRODUCTS - 9.40%
34,153		Air Products & Chemicals, Inc	$	3,376,366
1,000		Alberto-Culver Co		26,270
831	*	Alexion Pharmaceuticals, Inc		60,248
1,038	*	Alkermes, Inc		12,830
82,778	*	Amgen, Inc		3,903,810
1,775	*	Arena Pharmaceuticals, Inc		9,212
828	*	Array Biopharma, Inc		3,892
2,400	*	Auxilium Pharmaceuticals, Inc		80,688
17,917		Avery Dennison Corp		787,094
22,593		Avon Products, Inc		813,800
675		Balchem Corp		15,613
9,722	*	Barr Pharmaceuticals, Inc		438,268
7,840	*	Bentley Pharmaceuticals, Inc		126,616
5,113	*	Biodel, Inc		66,469
15,447	*	Biogen Idec, Inc		863,333
6,301	*	BioMarin Pharmaceuticals, Inc		182,603
7,264	*	BioMimetic Therapeutics, Inc		86,587
139,634		Bristol-Myers Squibb Co		2,866,686
4,139	*	Calgon Carbon Corp		63,989
2,700	*	Caraco Pharmaceutical Laboratories Ltd		35,640
3,549	*	Cell Genesys, Inc		9,227
1,130		Church & Dwight Co, Inc		63,676
8,007		Clorox Co		417,965
42,659		Colgate-Palmolive Co		2,947,737
2,045	*	Cypress Bioscience, Inc		14,704
9,570	*	Dendreon Corp		42,587
39,426	*	Durect Corp		144,693
28,795		Ecolab, Inc		1,237,897
74,106		Eli Lilly & Co		3,420,733
533		Estee Lauder Cos (Class A)		24,758
39,021	*	Genentech, Inc		2,961,694
18,624	*	Genzyme Corp		1,341,300
1,241	*	Geron Corp		4,281
61,378	*	Gilead Sciences, Inc		3,249,965
6,847		H.B. Fuller Co		153,647
6,349	*	Human Genome Sciences, Inc		33,078
4,998	*	Idexx Laboratories, Inc		243,603
2,631	*	Immucor, Inc		68,090
2,774		Innophos Holdings, Inc		88,629
6,237	*	Inverness Medical Innovations, Inc		206,881
4,062	*	Invitrogen Corp		159,474
30,906	*	Javelin Pharmaceuticals, Inc		71,702
6,551		Lubrizol Corp		303,508
3,292	*	Medarex, Inc		21,760
2,930		Minerals Technologies, Inc		186,319
6,500		Nalco Holding Co		137,475
5,898	*	Neurocrine Biosciences, Inc		24,712
7,439	*	Noven Pharmaceuticals, Inc		79,523
419	*	OraSure Technologies, Inc		1,567
4,002	*	Par Pharmaceutical Cos, Inc		64,952
2,607		PDL BioPharma, Inc		27,686
9,232		Perrigo Co		293,301
3,248	*	Pharmasset, Inc		61,322

377

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,057	*	PharMerica Corp	$	91,648
9,525	*	Pozen, Inc		103,632
14,511		PPG Industries, Inc		832,496
39,715		Praxair, Inc		3,742,742
6,486	*	Prestige Brands Holdings, Inc		69,141
181,400		Procter & Gamble Co		11,030,934
2,384	*	Progenics Pharmaceuticals, Inc		37,834
28,690		Rohm & Haas Co		1,332,364
8,225		RPM International, Inc		169,435
5,621	*	Salix Pharmaceuticals Ltd		39,516
92,222		Schering-Plough Corp		1,815,851
7,618		Sciele Pharma, Inc		147,408
4,640		Sensient Technologies Corp		130,662
5,532	*	Sepracor, Inc		110,197
17,664		Sigma-Aldrich Corp		951,383
1,886	*	SuperGen, Inc		3,866
655	*	United Therapeutics Corp		64,026
2,441	*	USANA Health Sciences, Inc		65,590
5,465		Valspar Corp		103,343
3,616	*	VCA Antech, Inc		100,452
4,030	*	Vertex Pharmaceuticals, Inc		134,884
77,960		Wyeth		3,738,962
6,828	*	Zymogenetics, Inc		57,492
		TOTAL CHEMICALS AND ALLIED PRODUCTS		56,802,318
COMMUNICATIONS - 4.09%
15,266		Alaska Communications Systems Group, Inc		182,276
35,005	*	American Tower Corp (Class A)		1,478,961
381	*	Anixter International, Inc		22,666
6,362	*	Brightpoint, Inc		46,443
13,372	*	Centennial Communications Corp		93,470
2,500	*	CenturyTel, Inc		88,975
111,045	*	Citizens Communications Co		1,259,250
5,963	*	Cox Radio, Inc (Class A)		70,363
31,053	*	Crown Castle International Corp		1,202,683
60,304	*	DIRECTV Group, Inc		1,562,477
20,363		Embarq Corp		962,559
5,670		Entercom Communications Corp (Class A)		39,803
40,784	*	Entravision Communications Corp (Class A)		163,952
45,397		Fairpoint Communications, Inc		327,312
107,461	*	FiberTower Corp		150,445
400		Fisher Communications, Inc		13,776
6,970	*	GeoEye, Inc		123,439
50,906		Gray Television, Inc		146,100
1,711		Hearst-Argyle Television, Inc		32,851
19,462	*	IAC/InterActiveCorp		375,227
30,191	*	ICO Global Communications Holdings Ltd		98,423
3,269	*	iPCS, Inc		96,860
8,551	*	Leap Wireless International, Inc		369,147
34,055	*	Liberty Global, Inc (Class A)		1,070,349
32,582	*	Liberty Media Corp - Capital (Series A)		469,181
57,992	*	Liberty Media Corp - Entertainment (Series A)		1,405,146
58,809	*	Liberty Media Holding Corp (Interactive A)		868,021
23,516	*	Lin TV Corp (Class A)		140,155

378

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
13,472	*	Mediacom Communications Corp (Class A)	$	71,941
14,788	*	MetroPCS Communications, Inc		261,895
1,708	*	NeuStar, Inc (Class A)		36,825
11,773	*	NII Holdings, Inc		559,100
3,739		NTELOS Holdings Corp		94,858
1,661	*	Rural Cellular Corp (Class A)		73,931
178,125		Sprint Nextel Corp		1,692,188
12,291		SureWest Communications		103,613
2,435	*	Switch & Data Facilities Co, Inc		41,371
6,785	*	Syniverse Holdings, Inc		109,917
6,550	*	Terremark Worldwide, Inc		35,763
15,026	*	TerreStar Corp		59,803
32,323	*	Time Warner Cable, Inc (Class A)		855,913
12,375	*	TiVo, Inc		76,354
189,705		Verizon Communications, Inc		6,715,557
73,797		Windstream Corp		910,655
19,989	*	XM Satellite Radio Holdings, Inc (Class A)		156,714
		TOTAL COMMUNICATIONS		24,716,708
DEPOSITORY INSTITUTIONS - 5.50%
1,100		Associated Banc-Corp		21,219
269,686		Bank of America Corp		6,437,405
2,210		Bank of Hawaii Corp		105,638
74,128		Bank of New York Mellon Corp		2,804,262
28,463		BankAtlantic Bancorp, Inc (Class A)		50,095
58,546		BB&T Corp		1,333,092
3,750		City National Corp		157,763
14,030		Comerica, Inc		359,589
69,857		Fifth Third Bancorp		711,144
15,128		First Horizon National Corp		112,401
1,300		First Midwest Bancorp, Inc		24,245
36,115		Flagstar Bancorp, Inc		108,706
2,250		Fulton Financial Corp		22,613
17,256		Hudson City Bancorp, Inc		287,830
74,822	v	IndyMac Bancorp, Inc		41,900
45,430		Keycorp		498,821
13,034		M&T Bank Corp		919,418
24,418		Marshall & Ilsley Corp		374,328
3,856	*	Metavante Technologies, Inc		87,223
7,283		New York Community Bancorp, Inc		129,929
2,260		NewAlliance Bancshares, Inc		28,205
14,735		Northern Trust Corp		1,010,379
2,220		Old National Bancorp		31,657
3,430		People's United Financial, Inc		53,508
39,358		PNC Financial Services Group, Inc		2,247,342
10,529		Popular, Inc		69,386
6,460		Provident Financial Services, Inc		90,505
70,984		Regions Financial Corp		774,435
1,650		South Financial Group, Inc		6,468
45,986		Sovereign Bancorp, Inc		338,457
23,790		State Street Corp		1,522,322
41,853		SunTrust Banks, Inc		1,515,916
2,700	*	SVB Financial Group		129,897
12,541		Synovus Financial Corp		109,483

379

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
38,541		UCBH Holdings, Inc	$	86,717
166,957		US Bancorp		4,656,431
1		Valley National Bancorp		8
840		Washington Federal, Inc		15,204
93,783		Washington Mutual, Inc		462,350
650		Webster Financial Corp		12,090
226,913		Wells Fargo & Co		5,389,184
2,527		Zions Bancorporation		79,575
		TOTAL DEPOSITORY INSTITUTIONS		33,217,140
EATING AND DRINKING PLACES - 1.23%
7,527	*	AFC Enterprises		60,141
1,289		Bob Evans Farms, Inc		36,865
15,057		Darden Restaurants, Inc		480,920
101,412		McDonald's Corp		5,701,383
700		O'Charleys, Inc		7,042
200		Ruby Tuesday, Inc		1,080
3,040	*	Sonic Corp		44,992
56,691	*	Starbucks Corp		892,316
6,540		Wendy's International, Inc		178,019
		TOTAL EATING AND DRINKING PLACES		7,402,758
EDUCATIONAL SERVICES - 0.01%
986	*	ITT Educational Services, Inc		81,473
		TOTAL EDUCATIONAL SERVICES		81,473
ELECTRIC, GAS, AND SANITARY SERVICES - 6.46%
67,273	*	AES Corp		1,292,314
20,435		AGL Resources, Inc		706,642
16,733		Alliant Energy Corp		573,273
9,323		Aqua America, Inc		148,888
20,179		Atmos Energy Corp		556,335
35,230		Avista Corp		756,036
16,783	*	Calpine Corp		378,624
31,580		Centerpoint Energy, Inc		506,859
3,970		Central Vermont Public Service Corp		76,899
3,626		CH Energy Group, Inc		128,977
24,010	*	Clean Energy Fuels Corp		275,875
39,643		Cleco Corp		924,871
57,161		Consolidated Edison, Inc		2,234,423
9,189		Crosstex Energy, Inc		318,491
17,960		Edison International		922,785
67,023		El Paso Corp		1,457,080
5,634		Energen Corp		439,621
27,712		Energy East Corp		685,041
1,347		EnergySouth, Inc		66,084
23,490		FPL Group, Inc		1,540,474
44,130		Hawaiian Electric Industries, Inc		1,091,335
36,770		Idacorp, Inc		1,062,285
1,741		ITC Holdings Corp		88,983
4,043		Laclede Group, Inc		163,216
8,927		MGE Energy, Inc		291,199
27,833		National Fuel Gas Co		1,655,507
3,799		New Jersey Resources Corp		124,037

380

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
12,991		Nicor, Inc	$	553,287
85,845		NiSource, Inc		1,538,343
17,214		Northeast Utilities		439,474
3,520		Northwest Natural Gas Co		162,835
22,998	*	NRG Energy, Inc		986,614
14,316		NSTAR		484,167
55,932		OGE Energy Corp		1,773,604
14,294		Oneok, Inc		697,976
89,094		Pepco Holdings, Inc		2,285,261
12,107		PG&E Corp		480,527
13,245		Piedmont Natural Gas Co, Inc		346,489
12,149		Pinnacle West Capital Corp		373,825
24,831		PPL Corp		1,297,916
20,231		Public Service Enterprise Group, Inc		929,210
29,980		Questar Corp		2,129,779
18,769		Resource America, Inc (Class A)		174,927
16,181		Sempra Energy		913,417
48,262		Sierra Pacific Resources		613,410
3,830		SJW Corp		101,112
7,730		South Jersey Industries, Inc		288,793
2,980		Southwest Gas Corp		88,595
40,082		TECO Energy, Inc		861,362
5,867		UGI Corp		168,442
3,154		UIL Holdings Corp		92,759
9,745		WGL Holdings, Inc		338,541
60,842		Williams Cos, Inc		2,452,541
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		39,039,360
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.42%
35,067	*	Adaptec, Inc		112,214
5,880	*	Advanced Energy Industries, Inc		80,556
42,010	*	Advanced Micro Devices, Inc		244,918
26,230		Ametek, Inc		1,238,581
2,880	*	Anadigics, Inc		28,368
3,942		Baldor Electric Co		137,891
614	*	Benchmark Electronics, Inc		10,033
323,050	*	Cisco Systems, Inc		7,514,143
5,533	*	Conexant Systems, Inc		24,899
3,812	*	Cree, Inc		86,952
1,600		CTS Corp		16,080
1,600	*	Dolby Laboratories, Inc (Class A)		64,480
1,190	*	DTS, Inc		37,271
7,447		Eaton Corp		632,772
1,559	*	Energy Conversion Devices, Inc		114,805
3,735	*	Evergreen Solar, Inc		36,192
27,059	*	Finisar Corp		32,200
3,164	*	First Solar, Inc		863,202
1,511	*	FuelCell Energy, Inc		10,728
8,000	*	GrafTech International Ltd		214,640
529	*	Greatbatch, Inc		9,152
2,255		Harman International Industries, Inc		93,334
10,982	*	Harmonic, Inc		104,439
8,524	*	Hutchinson Technology, Inc		114,563
354,994		Intel Corp		7,625,271

381

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
2,305	*	InterDigital, Inc	$	56,058
9,556	*	InterVoice, Inc		54,469
1,197		Lincoln Electric Holdings, Inc		94,204
9,352	*	Loral Space & Communications, Inc		164,782
556		LSI Industries, Inc		4,515
42,178	*	LSI Logic Corp		258,973
3,944	*	Medis Technologies Ltd		13,291
51,843	*	Micron Technology, Inc		311,058
5,517	*	Microtune, Inc		19,089
150,009	*	Motorola, Inc		1,101,066
19,297	*	NetApp, Inc		417,973
29,532	*	ON Semiconductor Corp		270,808
10,566	*	Oplink Communications, Inc		101,434
10,952	*	Optium Corp		79,731
3,798		Plantronics, Inc		84,771
183	*	PLX Technology, Inc		1,396
3,021	*	Polycom, Inc		73,592
2,828	*	Power-One, Inc		5,345
13,411	*	Powerwave Technologies, Inc		56,997
3,708	*	QLogic Corp		54,100
104,320		Qualcomm, Inc		4,628,678
13,942	*	Quantum Fuel Systems Technologies Worldwide, Inc		42,941
3,393		RadioShack Corp		41,632
11,334	*	RF Micro Devices, Inc		32,869
11,454	*	Silicon Storage Technology, Inc		31,727
141,247	*	Sirius Satellite Radio, Inc		271,194
10,177	*	Skyworks Solutions, Inc		100,447
18,304	*	Spansion, Inc (Class A)		41,184
3,292	*	Sunpower Corp (Class A)		236,958
7,773	*	Sycamore Networks, Inc		25,029
23,453	*	Symmetricom, Inc		90,060
1,847	*	Synaptics, Inc		69,687
2,450	*	Tekelec		36,039
5,501		Teleflex, Inc		305,801
26,227	*	Tellabs, Inc		121,956
826	*	Tessera Technologies, Inc		13,522
98,854		Texas Instruments, Inc		2,783,729
7,317	*	Thomas & Betts Corp		276,948
15,888	*	Triquint Semiconductor, Inc		96,281
2,358	*	TTM Technologies, Inc		31,149
15,539	*	Utstarcom, Inc		84,998
13,011	*	Valence Technology, Inc		57,639
1,000		Vicor Corp		9,980
3,532	*	Volterra Semiconductor Corp		60,962
1,685		Whirlpool Corp		104,015
14,276		Xilinx, Inc		360,469
10,944	*	Zix Corp		30,424
1,396	*	Zoltek Cos, Inc		33,853
2,243	*	Zoran Corp		26,243
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		32,717,750
ENGINEERING AND MANAGEMENT SERVICES - 0.64%
3,523	*	Amylin Pharmaceuticals, Inc		89,449
4,094	*	Applera Corp (Celera Genomics Group)		46,508

382

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
5,260	*	Ariad Pharmaceuticals, Inc	$	12,624
21,953	*	Celgene Corp		1,402,138
505		Corporate Executive Board Co		21,235
908	*	CV Therapeutics, Inc		7,473
353	*	Gen-Probe, Inc		16,760
5,823	*	Hewitt Associates, Inc (Class A)		223,195
10,739	*	Incyte Corp		81,724
6,339	*	Isis Pharmaceuticals, Inc		86,401
400	*	Maxygen, Inc		1,356
25,334		Paychex, Inc		792,447
15,182		Quest Diagnostics, Inc		735,872
2,275	*	Regeneron Pharmaceuticals, Inc		32,851
79,922	*	Rentech, Inc		151,852
3,623	*	Savient Pharmaceuticals, Inc		91,662
19	*	Symyx Technologies, Inc		133
3,940	*	Tetra Tech, Inc		89,123
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		3,882,803
FABRICATED METAL PRODUCTS - 0.89%
2,140		Aptargroup, Inc		89,773
12,482		Commercial Metals Co		470,571
837	*	Commercial Vehicle Group, Inc		7,826
5,878		Dynamic Materials Corp		193,680
2,918		Gulf Island Fabrication, Inc		142,778
71,635		Illinois Tool Works, Inc		3,403,379
1,400		Insteel Industries, Inc		25,634
3,970		Pentair, Inc		139,029
4,517		Quanex Building Products Corp		67,123
3,025		Snap-On, Inc		157,330
11,548		Stanley Works		517,697
1,496		Valmont Industries, Inc		156,018
		TOTAL FABRICATED METAL PRODUCTS		5,370,838
FOOD AND KINDRED PRODUCTS - 3.68%
29,827		Campbell Soup Co		998,011
700		Corn Products International, Inc		34,377
47,786		General Mills, Inc		2,903,955
33,975		H.J. Heinz Co		1,625,704
1,337	*	Hansen Natural Corp		38,532
19,685		Hershey Co		645,274
3,370		J.M. Smucker Co		136,957
47,474		Kellogg Co		2,279,702
119,222		Kraft Foods, Inc (Class A)		3,391,866
1,360		Lancaster Colony Corp		41,181
2,752		McCormick & Co, Inc		98,136
115,673		PepsiCo, Inc		7,355,646
38,583		Sara Lee Corp		472,642
1,349		Tootsie Roll Industries, Inc		33,900
27,641		Wrigley (Wm.) Jr Co		2,149,917
		TOTAL FOOD AND KINDRED PRODUCTS		22,205,800
FOOD STORES - 0.21%
16		Arden Group, Inc (Class A)		2,028
315	*	Great Atlantic & Pacific Tea Co, Inc		7,188

383

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
32,163		Safeway, Inc	$	918,254
8,176	*	Supervalu, Inc		252,557
4,554		Whole Foods Market, Inc		107,884
		TOTAL FOOD STORES		1,287,911
FORESTRY - 0.14%
16,047		Weyerhaeuser Co		820,644
		TOTAL FORESTRY		820,644
FURNITURE AND FIXTURES - 0.52%
1,540		Herman Miller, Inc		38,331
8,438		Hill-Rom Holdings, Inc		227,657
3,520		HNI Corp		62,163
69,377		Johnson Controls, Inc		1,989,732
11,832		Leggett & Platt, Inc		198,423
40,212		Masco Corp		632,535
1,069		Tempur-Pedic International, Inc		8,349
		TOTAL FURNITURE AND FIXTURES		3,157,190
FURNITURE AND HOMEFURNISHINGS STORES - 0.09%
14,525	*	Bed Bath & Beyond, Inc		408,153
1,590	*	GameStop Corp (Class A)		64,236
1,129	*	Mohawk Industries, Inc		72,369
1,000	*	Pier 1 Imports, Inc		3,440
305		Williams-Sonoma, Inc		6,051
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		554,249
GENERAL BUILDING CONTRACTORS - 0.07%
100		Amrep Corp		4,759
121	*	Avatar Holdings, Inc		3,665
5,610		Centex Corp		75,006
2,209	*	Hovnanian Enterprises, Inc (Class A)		12,105
110		Lennar Corp (B Shares)		1,221
6,515		Lennar Corp (Class A)		80,395
4,853		M/I Homes, Inc		76,338
391	*	Meritage Homes Corp		5,932
5,613		Standard-Pacific Corp		18,972
6,302	*	Toll Brothers, Inc		118,036
		TOTAL GENERAL BUILDING CONTRACTORS		396,429
GENERAL MERCHANDISE STORES - 1.35%
42,458		Costco Wholesale Corp		2,978,004
14,563		JC Penney Co, Inc		528,491
10,200		Macy's, Inc		198,084
457	*	Retail Ventures, Inc		2,102
70,224		Target Corp		3,264,714
36,816		TJX Cos, Inc		1,158,600
		TOTAL GENERAL MERCHANDISE STORES		8,129,995
HEALTH SERVICES - 0.73%
761	*	Amsurg Corp		18,530
1,680	*	Corvel Corp		56,902
4,317	*	Edwards Lifesciences Corp		267,827
15,297	*	Five Star Quality Care, Inc		72,355

384

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
1,386	*	Healthways, Inc	$	41,026
11,059	*	Laboratory Corp of America Holdings		770,038
7,760		LCA-Vision, Inc		37,015
1,890	*	LHC Group, Inc		43,942
5,099	*	LifePoint Hospitals, Inc		144,302
30,989	*	Nektar Therapeutics		103,813
6,226	*	Nighthawk Radiology Holdings, Inc		44,080
2,012	*	Pediatrix Medical Group, Inc		99,051
2,584	*	Psychiatric Solutions, Inc		97,778
54,379	*	WellPoint, Inc		2,591,703
		TOTAL HEALTH SERVICES		4,388,362
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.14%
2,642	*	Comverge, Inc		36,935
10,776	*	Foster Wheeler Ltd		788,265
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		825,200
HOLDING AND OTHER INVESTMENT OFFICES - 2.00%
37,970		Annaly Mortgage Management, Inc		588,915
8,100		Anworth Mortgage Asset Corp		52,731
20,859		Ashford Hospitality Trust, Inc		96,368
3,617		AvalonBay Communities, Inc		322,492
7,367		Boston Properties, Inc		664,651
7,018		Capstead Mortgage Corp		76,145
28,304		CBRE Realty Finance, Inc		97,366
2,455		Cherokee, Inc		49,468
14,076		Duke Realty Corp		316,006
30,751		Equity Residential		1,176,841
153		FelCor Lodging Trust, Inc		1,607
1,190		First Industrial Realty Trust, Inc		32,689
15,755		General Growth Properties, Inc		551,898
4,421		HCP, Inc		140,632
3,556		Health Care REIT, Inc		158,242
863		Highwoods Properties, Inc		27,115
3,683		Hospitality Properties Trust		90,086
29,531		Host Marriott Corp		403,098
8,502		HRPT Properties Trust		57,559
12,687		iStar Financial, Inc		167,595
18,076		Kimco Realty Corp		623,984
2,370		Lexington Corporate Properties Trust		32,303
2,053		Liberty Property Trust		68,057
610		Macerich Co		37,899
4,785		MFA Mortgage Investments, Inc		31,198
2,190		Mid-America Apartment Communities, Inc		111,778
101,407	*	NexCen Brands, Inc		56,798
32,157		NorthStar Realty Finance Corp		267,546
1,000		Post Properties, Inc		29,750
1,447		Potlatch Corp		65,289
16,299		Prologis		885,851
11,142		Public Storage, Inc		900,162
1,630		Regency Centers Corp		96,366
19,318		Simon Property Group, Inc		1,736,495
3,000		UDR, Inc		67,140
35,968		Virgin Media, Inc		489,524

385

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
10,348		Vornado Realty Trust	$	910,624
4,943		WABCO Holdings, Inc		229,652
12,811		Weingarten Realty Investors		388,429
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		12,100,349
HOTELS AND OTHER LODGING PLACES - 0.26%
11,529		Choice Hotels International, Inc		305,519
7,745	*	Gaylord Entertainment Co		185,570
15,105	*	Great Wolf Resorts, Inc		66,009
11,327	*	Lodgian, Inc		88,690
5,534		Marcus Corp		82,733
23,071		Marriott International, Inc (Class A)		605,383
5,471		Starwood Hotels & Resorts Worldwide, Inc		219,223
		TOTAL HOTELS AND OTHER LODGING PLACES		1,553,127
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.95%
7,890	*	AGCO Corp		413,515
2,612	*	Allis-Chalmers Energy, Inc		46,494
1,565		Ampco-Pittsburgh Corp		69,611
94,608		Applied Materials, Inc		1,806,067
1,445	*	Astec Industries, Inc		46,442
8,648	*	Axcelis Technologies, Inc		42,202
6,225		Black & Decker Corp		358,000
1,585		Briggs & Stratton Corp		20,098
35,688	*	Brocade Communications Systems, Inc		294,069
757		Cascade Corp		32,036
35,074		Caterpillar, Inc		2,589,163
1,693	*	Columbus McKinnon Corp		40,767
19,995	*	Cray, Inc		92,777
20,908		Cummins, Inc		1,369,892
44,898		Deere & Co		3,238,493
137,117	*	Dell, Inc		3,000,120
985		Donaldson Co, Inc		43,970
1,851	*	Dril-Quip, Inc		116,613
2,214	*	Emulex Corp		25,793
5,176	*	ENGlobal Corp		73,706
3,442	*	Entegris, Inc		22,545
8,492	*	FMC Technologies, Inc		653,289
400	*	Gardner Denver, Inc		22,720
8,135		Graco, Inc		309,699
166,842		Hewlett-Packard Co		7,376,085
15,553	*	Immersion Corp		105,916
7,764		Ingersoll-Rand Co Ltd (Class A)		290,632
1,629	*	Intermec, Inc		34,339
82,364		International Business Machines Corp		9,762,605
2,132	*	Intevac, Inc		24,049
6,099	*	Lam Research Corp		220,479
3,804	*	Lexmark International, Inc (Class A)		127,168
1,117		Lufkin Industries, Inc		93,024
7,726		Manitowoc Co, Inc		251,327
3,855		Modine Manufacturing Co		47,686
5,584		Nordson Corp		407,018
1,537	*	Oil States International, Inc		97,507
4,926		Pall Corp		195,464

386

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
21,762		Palm, Inc	$	117,297
52,312	*	Quantum Corp		70,621
634	*	Rackable Systems, Inc		8,496
305		Sauer-Danfoss, Inc		9,501
50,823		Seagate Technology, Inc		972,244
4,004	*	Semitool, Inc		30,070
4,222	*	Sigma Designs, Inc		58,644
7,783	*	STEC, Inc		79,931
2,438	*	Tecumseh Products Co (Class A)		79,918
7,975		Tennant Co		239,808
3,140	*	Terex Corp		161,302
1,235	*	TurboChef Technologies, Inc		5,903
840	*	Ultratech, Inc		13,037
6,652	*	Varian Medical Systems, Inc		344,906
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		35,953,058
INSTRUMENTS AND RELATED PRODUCTS - 6.99%
3,204	*	Advanced Medical Optics, Inc		60,043
1,715	*	Affymetrix, Inc		17,647
27,051	*	Agilent Technologies, Inc		961,393
20,972		Allergan, Inc		1,091,593
377		Analogic Corp		23,777
6,590		Bard (C.R.), Inc		579,591
56,503		Baxter International, Inc		3,612,802
6,777		Beckman Coulter, Inc		457,651
27,574		Becton Dickinson & Co		2,241,766
1,350	*	Bruker BioSciences Corp		17,348
2,936	*	Cepheid, Inc		82,560
16,222		Danaher Corp		1,253,961
11,549		Dentsply International, Inc		425,003
90,700		Emerson Electric Co		4,485,115
6,721	*	Flir Systems, Inc		272,671
553	*	Formfactor, Inc		10,192
10,751		Garmin Ltd		460,573
7,738		Hillenbrand, Inc		165,593
12,980	*	Hologic, Inc		282,964
1,091	*	Illumina, Inc		95,037
2,198	*	Intuitive Surgical, Inc		592,141
7,191	*	ION Geophysical Corp		125,483
350	*	Itron, Inc		34,423
3,346	*	Ixia		23,255
171,889		Johnson & Johnson		11,059,338
82	*	L-1 Identity Solutions, Inc		1,092
4,280	*	LTX Corp		9,416
102,386		Medtronic, Inc		5,298,476
4,268	*	Millipore Corp		289,626
1,550	*	MKS Instruments, Inc		33,945
980		Movado Group, Inc		19,404
606	*	OYO Geospace Corp		35,718
24,171		Pitney Bowes, Inc		824,231
381	*	Resmed, Inc		13,617
610	*	Rofin-Sinar Technologies, Inc		18,422
2,613		Roper Industries, Inc		172,144
23,911	*	St. Jude Medical, Inc		977,482

387

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
4,870		STERIS Corp	$	140,061
27,508		Stryker Corp		1,729,703
1,367	*	Techne Corp		105,792
28,325	*	Thermo Electron Corp		1,578,552
4,018	*	Trimble Navigation Ltd		143,443
7,276	*	Vivus, Inc		48,604
4,485	*	Waters Corp		289,282
68,842		Xerox Corp		933,497
16,348	*	Zimmer Holdings, Inc		1,112,481
800	*	Zygo Corp		7,864
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		42,214,772
INSURANCE AGENTS, BROKERS AND SERVICE - 0.56%
20,659		AON Corp		949,075
18,378	*	Crawford & Co (Class B)		146,840
35,491		Hartford Financial Services Group, Inc		2,291,654
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		3,387,569
INSURANCE CARRIERS - 3.89%
41,221		Aetna, Inc		1,670,687
63,293		Aflac, Inc		3,974,800
71	*	Alleghany Corp		23,576
9,279		Ambac Financial Group, Inc		12,434
510		American Physicians Capital, Inc		24,704
13,764		Aspen Insurance Holdings Ltd		325,794
9,751		Assurant, Inc		643,176
1,565	*	Centene Corp		26,276
58,608		Chubb Corp		2,872,378
34,532		Cincinnati Financial Corp		877,113
6,428		Endurance Specialty Holdings Ltd		197,918
3,675		Erie Indemnity Co (Class A)		169,601
37,561		Genworth Financial, Inc (Class A)		668,961
2,617		Hanover Insurance Group, Inc		111,223
1,192	*	HealthExtras, Inc		35,927
13,375	*	Humana, Inc		531,924
500		LandAmerica Financial Group, Inc		11,095
12,891		Leucadia National Corp		605,103
36,142		Lincoln National Corp		1,637,955
613	*	Markel Corp		224,971
11,293		MBIA, Inc		49,576
6,699		MGIC Investment Corp		40,931
2,411	*	Molina Healthcare, Inc		58,684
6,700		Nationwide Financial Services, Inc (Class A)		321,667
1,407		Odyssey Re Holdings Corp		49,949
4,874		Phoenix Cos, Inc		37,091
3,089		PMI Group, Inc		6,024
30,089		Principal Financial Group		1,262,835
71,515		Progressive Corp		1,338,761
3,285		Protective Life Corp		124,994
3,750		Radian Group, Inc		5,438
18,784		Safeco Corp		1,261,533
381		Stancorp Financial Group, Inc		17,892
1,100		Tower Group, Inc		23,309
73,925		Travelers Cos, Inc		3,208,345

388

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
2,930		Unitrin, Inc	$	80,780
15,039		UnumProvident Corp		307,548
12,592		W.R. Berkley Corp		304,223
17,089		XL Capital Ltd (Class A)		351,350
		TOTAL INSURANCE CARRIERS		23,496,546
LEATHER AND LEATHER PRODUCTS - 0.10%
19,812	*	Coach, Inc		572,170
2,309		Weyco Group, Inc		61,258
		TOTAL LEATHER AND LEATHER PRODUCTS		633,428
LEGAL SERVICES - 0.02%
1,833	*	FTI Consulting, Inc		125,487
		TOTAL LEGAL SERVICES		125,487
LUMBER AND WOOD PRODUCTS - 0.01%
6,717	*	Champion Enterprises, Inc		39,294
300		Skyline Corp		7,050
		TOTAL LUMBER AND WOOD PRODUCTS		46,344
METAL MINING - 0.11%
16,494	*	Allied Nevada Gold Corp		97,150
2,358	*	Rosetta Resources, Inc		67,203
16,508		Royal Gold, Inc		517,691
		TOTAL METAL MINING		682,044
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.32%
1,840		Callaway Golf Co		21,767
1,145		Daktronics, Inc		23,095
54,800		Mattel, Inc		938,176
390		Nautilus, Inc		1,981
23,478		Tyco International Ltd		940,059
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,925,078
MISCELLANEOUS RETAIL - 1.50%
16,480	*	Amazon.com, Inc		1,208,478
17,147		Best Buy Co, Inc		679,021
658	*	Coldwater Creek, Inc		3,474
74,264		CVS Corp		2,938,627
1,162	*	Dollar Tree, Inc		37,986
5,064	*	GSI Commerce, Inc		69,022
17,401	*	Hibbett Sports, Inc		367,161
315		Nutri/System, Inc		4,454
12,229	*	Office Depot, Inc		133,785
930	*	Overstock.com, Inc		24,134
1,100		Petsmart, Inc		21,945
1,614	*	Priceline.com, Inc		186,352
42,325		Staples, Inc		1,005,219
2,200		Systemax, Inc		38,830
3,347		Tiffany & Co		136,390
67,062		Walgreen Co		2,180,186
		TOTAL MISCELLANEOUS RETAIL		9,035,064

389

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
MOTION PICTURES - 1.20%
457	*	Avid Technology, Inc	$	7,764
19,316	*	Discovery Holding Co (Class A)		424,179
6,671	*	DreamWorks Animation SKG, Inc (Class A)		198,862
2,881		Regal Entertainment Group (Class A)		44,022
319,387		Time Warner, Inc		4,726,928
6,284	*	tw telecom inc		100,733
56,554	*	Viacom, Inc (Class B)		1,727,159
		TOTAL MOTION PICTURES		7,229,647
NONDEPOSITORY INSTITUTIONS - 1.32%
2,860		Advanta Corp (Class A)		15,616
97,619		American Express Co		3,677,308
14,309	*	AmeriCredit Corp		123,343
32,480		Capital One Financial Corp		1,234,565
9,196		CapitalSource, Inc		101,892
50,159		Centerline Holding Co		83,765
41,890		CIT Group, Inc		285,271
39,022		Discover Financial Services		513,920
7,700		Federal Agricultural Mortgage Corp (Class C)		190,806
66,195		Freddie Mac		1,085,598
29,486	*	Guaranty Financial Group, Inc		158,340
30,605		Medallion Financial Corp		288,299
20,027	*	NewStar Financial, Inc		118,359
1,600	*	PHH Corp		24,560
2,690	*	thinkorswim Group, Inc		18,965
1,293	*	World Acceptance Corp		43,535
		TOTAL NONDEPOSITORY INSTITUTIONS		7,964,142
NONMETALLIC MINERALS, EXCEPT FUELS - 0.19%
11,873		AMCOL International Corp		337,906
520		Compass Minerals International, Inc		41,891
12,539		Vulcan Materials Co		749,581
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		1,129,378
OIL AND GAS EXTRACTION - 7.24%
6,267		Atlas America, Inc		282,328
2,516	*	ATP Oil & Gas Corp		99,307
290	*	Atwood Oceanics, Inc		36,059
6,354		Berry Petroleum Co (Class A)		374,124
3,340	*	Bronco Drilling Co, Inc		61,389
14,852	*	Callon Petroleum Co		406,351
12,822	*	Cameron International Corp		709,698
837	*	Carrizo Oil & Gas, Inc		56,991
7,781	*	Cheniere Energy, Inc		34,003
53,646		Chesapeake Energy Corp		3,538,490
10,407		Cimarex Energy Co		725,056
1,930	*	Complete Production Services, Inc		70,291
4,524	*	Contango Oil & Gas Co		420,370
500	*	Dawson Geophysical Co		29,730
4,419	*	Delta Petroleum Corp		112,773
44,124	*	Denbury Resources, Inc		1,610,526
4,054	*	Edge Petroleum Corp		21,851
4,870	*	Encore Acquisition Co		366,175
18,667		ENSCO International, Inc		1,507,173

390

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
39,754		Equitable Resources, Inc	$	2,745,411
1,370	*	EXCO Resources, Inc		50,567
1,383	*	Exterran Holdings, Inc		98,871
1,600	*	Geokinetics, Inc		28,976
3,100	*	Geomet, Inc		29,388
10,815	*	Global Industries Ltd		193,913
2,553	*	GMX Resources, Inc		189,177
5,131	*	Goodrich Petroleum Corp		425,463
15,131	*	Grey Wolf, Inc		136,633
7,567	*	Helix Energy Solutions Group, Inc		315,090
18,933		Helmerich & Payne, Inc		1,363,555
3,600	*	Hercules Offshore, Inc		136,872
10,552	*	McMoRan Exploration Co		290,391
38,009	*	Meridian Resource Corp		112,127
17,335	*	Nabors Industries Ltd		853,402
36,691	*	National Oilwell Varco, Inc		3,255,225
18,000		Noble Corp		1,169,280
1,457	*	Oceaneering International, Inc		112,262
3,912	*	Parallel Petroleum Corp		78,748
3,300	*	Parker Drilling Co		33,033
26,390	*	PetroHawk Energy Corp		1,222,121
3,626	*	Petroleum Development Corp		241,093
5,283	*	Petroquest Energy, Inc		142,113
3,700	*	Pioneer Drilling Co		69,597
17,823		Pioneer Natural Resources Co		1,395,184
19,781	*	Plains Exploration & Production Co		1,443,420
18,819	*	Pride International, Inc		889,950
14,910	*	Quicksilver Resources, Inc		576,122
12,094		Range Resources Corp		792,641
2,430		RPC, Inc		40,824
18,167		Smith International, Inc		1,510,404
17,638	*	Southwestern Energy Co		839,745
7,378		St. Mary Land & Exploration Co		476,914
3,305	*	Stone Energy Corp		217,832
43,021	*	Sulphco, Inc		97,658
1,765	*	Superior Energy Services		97,322
6,766	*	Swift Energy Co		446,962
4,765	*	Toreador Resources Corp		40,645
32,596		Transocean, Inc		4,967,304
3,817	*	TXCO Resources, Inc		44,888
4,713	*	Unit Corp		391,038
5,760	*	Venoco, Inc		133,690
5,198		W&T Offshore, Inc		304,135
1,141	*	Warren Resources, Inc		16,750
16,278	*	Weatherford International Ltd		807,226
3,841	*	Whiting Petroleum Corp		407,453
59,420		XTO Energy, Inc		4,070,864
		TOTAL OIL AND GAS EXTRACTION		43,764,964
PAPER AND ALLIED PRODUCTS - 0.84%
9,456		Bemis Co		212,004
6,951	*	Buckeye Technologies, Inc		58,805
22,095	*	Domtar Corporation		120,418
2,230		Glatfelter		30,127

391

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
26,740		International Paper Co	$	623,042
42,493		Kimberly-Clark Corp		2,540,231
31,621		MeadWestvaco Corp		753,845
7,948		Packaging Corp of America		170,961
2,117		Rock-Tenn Co (Class A)		63,489
108	*	Smurfit-Stone Container Corp		440
13,215		Sonoco Products Co		409,004
5,750		Temple-Inland, Inc		64,802
1,674		Wausau Paper Corp		12,907
		TOTAL PAPER AND ALLIED PRODUCTS		5,060,075
PERSONAL SERVICES - 0.04%
5,300		Regis Corp		139,655
1,350		Unifirst Corp		60,291
1,105		Weight Watchers International, Inc		39,349
		TOTAL PERSONAL SERVICES		239,295
PETROLEUM AND COAL PRODUCTS - 4.78%
8,741		Alon USA Energy, Inc		104,542
36,996		Apache Corp		5,142,444
2,550		Ashland, Inc		122,910
10,700		Cabot Oil & Gas Corp		724,711
45,227		Devon Energy Corp		5,434,476
31,261		EOG Resources, Inc		4,101,443
28,168		Hess Corp		3,554,520
26,216		Murphy Oil Corp		2,570,479
12,882	*	Newfield Exploration Co		840,551
32,059		Noble Energy, Inc		3,223,853
16,394		Sunoco, Inc		667,072
53,911		Valero Energy Corp		2,220,055
15,038		Western Refining, Inc		178,050
		TOTAL PETROLEUM AND COAL PRODUCTS		28,885,106
PIPELINES, EXCEPT NATURAL GAS - 0.41%
86,200		Spectra Energy Corp		2,477,388
		TOTAL PIPELINES, EXCEPT NATURAL GAS		2,477,388
PRIMARY METAL INDUSTRIES - 2.08%
36,702		Alcoa, Inc		1,307,325
4,582		Allegheny Technologies, Inc		271,621
10,959	*	Century Aluminum Co		728,664
102,814		Corning, Inc		2,369,863
457		Encore Wire Corp		9,684
5,633		Gibraltar Industries, Inc		89,959
5,006		Hubbell, Inc (Class B)		199,589
6,178	*	LB Foster Co (Class A)		205,110
34,988		Nucor Corp		2,612,554
4,390		Olympic Steel, Inc		333,289
25,060		Steel Dynamics, Inc		979,094
6,210		Tredegar Corp		91,287
15,039		United States Steel Corp		2,778,906
29,893		Worthington Industries, Inc		612,806
		TOTAL PRIMARY METAL INDUSTRIES		12,589,751

392

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
PRINTING AND PUBLISHING - 0.52%
761	*	ACCO Brands Corp	$	8,546
7,399		Dun & Bradstreet Corp		648,448
14,079	*	EW Scripps Co (Class A)		584,842
4,867		Harte-Hanks, Inc		55,727
1,520		John Wiley & Sons, Inc (Class A)		68,446
31,127		Journal Communications, Inc (Class A)		150,032
1,890		Lee Enterprises, Inc		7,541
4,910		Meredith Corp		138,904
26,635		New York Times Co (Class A)		409,913
26,796	*	R.H. Donnelley Corp		80,388
660		R.R. Donnelley & Sons Co		19,595
13,835		Standard Register Co		130,464
822	*	Valassis Communications, Inc		10,291
1,449		Washington Post Co (Class B)		850,418
		TOTAL PRINTING AND PUBLISHING		3,163,555
RAILROAD TRANSPORTATION - 1.04%
43,538		CSX Corp		2,734,622
533	*	Genesee & Wyoming, Inc (Class A)		18,132
5,987	*	Kansas City Southern Industries, Inc		263,368
52,318		Norfolk Southern Corp		3,278,769
		TOTAL RAILROAD TRANSPORTATION		6,294,891
REAL ESTATE - 0.05%
8,458	*	CB Richard Ellis Group, Inc (Class A)		162,394
1,693		Forest City Enterprises, Inc (Class A)		54,548
1,916	*	Forestar Real Estate Group, Inc		36,500
229		Jones Lang LaSalle, Inc		13,784
7,397		Stewart Enterprises, Inc (Class A)		53,258
		TOTAL REAL ESTATE		320,484
RUBBER AND MISCELLANEOUS PLASTIC PRODUCT - 0.48%
190	*	Deckers Outdoor Corp		26,448
43,956		Nike, Inc (Class B)		2,620,217
7,390		Sealed Air Corp		140,484
1,937		Spartech Corp		18,266
3,250		Tupperware Corp		111,215
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCT		2,916,630
SECURITY AND COMMODITY BROKERS - 2.80%
13,732		Ameriprise Financial, Inc		558,480
3,510		BlackRock, Inc		621,270
11,786		Broadridge Financial Solutions, Inc		248,095
72,507		Charles Schwab Corp		1,489,294
3,531	*	CME Group, Inc		1,353,044
7,612	*	Duff & Phelps Corp		126,055
2,633		Eaton Vance Corp		104,688
7,070		Evercore Partners, Inc (Class A)		67,165
4,016		Federated Investors, Inc (Class B)		138,231
23,397		Franklin Resources, Inc		2,144,335
28,931		Goldman Sachs Group, Inc		5,060,032
3,601	*	IntercontinentalExchange, Inc		410,514
40,492		Invesco Ltd		970,998

393

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
153	*	Investment Technology Group, Inc	$	5,119
47,687	*	Ladenburg Thalmann Financial Services, Inc		72,007
8,256		Lazard Ltd (Class A)		281,942
9,811		Legg Mason, Inc		427,465
9,870	*	Nasdaq Stock Market, Inc		262,049
3,225		Nymex Holdings, Inc		272,448
17,728		NYSE Euronext		898,100
10,386		SEI Investments Co		244,279
19,417		T Rowe Price Group, Inc		1,096,478
5,097		US Global Investors, Inc (Class A)		85,375
		TOTAL SECURITY AND COMMODITY BROKERS		16,937,463
SOCIAL SERVICES - 0.01%
6,300	*	Capital Senior Living Corp		47,502
		TOTAL SOCIAL SERVICES		47,502
SPECIAL TRADE CONTRACTORS - 0.06%
1,785	*	Layne Christensen Co		78,165
7,666	*	Quanta Services, Inc		255,048
		TOTAL SPECIAL TRADE CONTRACTORS		333,213
STONE, CLAY, AND GLASS PRODUCTS - 0.92%
70,669		3M Co		4,917,856
241		Apogee Enterprises, Inc		3,895
180	*	Cabot Microelectronics Corp		5,967
2,629		CARBO Ceramics, Inc		153,402
4,165		Eagle Materials, Inc		105,499
8,376		Gentex Corp		120,949
3,400	*	Owens Corning, Inc		77,350
4,000	*	Owens-Illinois, Inc		166,760
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		5,551,678
TEXTILE MILL PRODUCTS - 0.00%**
1,400		Oxford Industries, Inc		26,810
		TOTAL TEXTILE MILL PRODUCTS		26,810
TRANSPORTATION BY AIR - 0.68%
1,560	*	Air Methods Corp		39,000
53,773	*	Airtran Holdings, Inc		109,697
11,348	*	Continental Airlines, Inc (Class B)		114,728
35,800	*	Delta Air Lines, Inc		204,060
102,704	v*	ExpressJet Holdings, Inc		57,514
29,395		FedEx Corp		2,316,032
55,178	*	JetBlue Airways Corp		205,814
800	*	PHI, Inc		32,136
4,790		Skywest, Inc		60,594
66,672		Southwest Airlines Co		869,403
23,323		UAL Corp		121,746
		TOTAL TRANSPORTATION BY AIR		4,130,724
TRANSPORTATION EQUIPMENT - 0.87%
5,056		American Axle & Manufacturing Holdings, Inc		40,397
6,501		ArvinMeritor, Inc		81,132
381	*	ATC Technology Corp		8,870

394

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
30,092	*	BE Aerospace, Inc	$	700,843
429		Federal Signal Corp		5,148
1,482	*	Fuel Systems Solutions, Inc		57,057
27,558		Genuine Parts Co		1,093,501
24,403		Harley-Davidson, Inc		884,853
11,270		Harsco Corp		613,201
5,200	*	Hayes Lemmerz International, Inc		14,768
1,838		Noble International Ltd		8,216
21,766		Paccar, Inc		910,472
21,935	*	Spirit Aerosystems Holdings, Inc (Class A)		420,713
6,160		Superior Industries International, Inc		103,981
6,952	*	Tenneco, Inc		94,061
20,499	*	Visteon Corp		53,912
3,965		Westinghouse Air Brake Technologies Corp		192,778
		TOTAL TRANSPORTATION EQUIPMENT		5,283,903
TRANSPORTATION SERVICES - 0.05%
2,563		CH Robinson Worldwide, Inc		140,555
3,054		Expeditors International Washington, Inc		131,322
10,076	*	Orbitz Worldwide, Inc		50,481
		TOTAL TRANSPORTATION SERVICES		322,358
TRUCKING AND WAREHOUSING - 0.75%
74,010		United Parcel Service, Inc (Class B)		4,549,395
		TOTAL TRUCKING AND WAREHOUSING		4,549,395
WATER TRANSPORTATION - 0.10%
2,390		Alexander & Baldwin, Inc		108,864
4,549	*	Gulfmark Offshore, Inc		264,661
3,713	*	Hornbeck Offshore Services, Inc		209,822
		TOTAL WATER TRANSPORTATION		583,347
WHOLESALE TRADE-DURABLE GOODS - 0.62%
17,314		Agilysys, Inc		196,341
15,600		Barnes Group, Inc		360,204
5,640		BorgWarner, Inc		250,303
4,616		Castle (A.M.) & Co		132,064
8,120	*	Chindex International, Inc		119,120
15,436		IKON Office Solutions, Inc		174,118
953		Martin Marietta Materials, Inc		98,721
1,841	*	MWI Veterinary Supply, Inc		60,955
890		Owens & Minor, Inc		40,664
10,210	*	Patterson Cos, Inc		300,072
12,964		Reliance Steel & Aluminum Co		999,395
153	*	Tech Data Corp		5,185
2,050	*	Tyler Technologies, Inc		27,819
10,982		W.W. Grainger, Inc		898,328
1,743	*	WESCO International, Inc		69,790
		TOTAL WHOLESALE TRADE-DURABLE GOODS		3,733,079
WHOLESALE TRADE-NONDURABLE GOODS - 0.52%
681		Airgas, Inc		39,764
6,350	*	Akorn, Inc		21,018
4,961	*	Allscripts Healthcare Solutions, Inc		61,566

395

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Social Choice Equity Fund
SHARES		COMPANY		VALUE
1,522	*	Dean Foods Co	$	29,862
9,220	*	Endo Pharmaceuticals Holdings, Inc		223,032
2,457	*	Henry Schein, Inc		126,707
9,700		Herbalife Ltd		375,875
39,980		Idearc, Inc		93,953
300		Men's Wearhouse, Inc		4,887
1,817		Nash Finch Co		62,268
2,716		Spartan Stores, Inc		62,468
73,676		Sysco Corp		2,026,827
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		3,128,227
		TOTAL COMMON STOCKS		596,566,335
		(Cost $601,448,294)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 0.59%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.59%
$      5,680,000		Federal Home Loan Bank Discount Note, 0.000%, 07/01/2008		3,540,000
				3,540,000
		TOTAL SHORT-TERM INVESTMENTS		3,540,000
		(Cost $3,540,000)
		TOTAL PORTFOLIO - 99.33%		600,106,335
		(Cost $604,988,294)
		OTHER ASSETS & LIABILITIES, NET - 0.67%		4,037,189
		NET ASSETS - 100.00%	$	604,143,524
		The following abbreviation is used in portfolio descriptions:
		REIT - Real Estate Investment Trust
	*	Non-income producing
	**	Percentage represents less than 0.01%.
	v	Security valued at fair value.
		At June 30, 2008, the net unrealized depreciation on investments was $4,881,959, consisting of
		gross unrealized appreciation of $72,774,939 and gross unrealized depreciation of $77,656,898.

396

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Real Estate Securities Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
REAL ESTATE SECURITIES FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
COMMON STOCKS - 99.57%
HOLDING AND OTHER INVESTMENT OFFICES - 94.37%
104,700	e	Acadia Realty Trust	$	2,423,805
124,000	e	Alexandria Real Estate Equities, Inc		12,070,160
243,000	e	AMB Property Corp		12,242,340
104,100	e	American Campus Communities, Inc		2,898,144
60,000	e	American Land Lease, Inc		1,140,000
143,000	e	AvalonBay Communities, Inc		12,749,880
242,000	e	BioMed Realty Trust, Inc		5,936,260
38,058		Boardwalk Real Estate Investment Trust		1,423,863
345,000	e	Boston Properties, Inc		31,125,900
198,000	e	Camden Property Trust		8,763,480
105,900	e	Corporate Office Properties Trust		3,635,547
520,000	e	DCT Industrial Trust, Inc		4,305,600
101,100	e	Digital Realty Trust, Inc		4,136,001
121,000	e	Douglas Emmett, Inc		2,658,370
236,785		Duke Realty Corp		5,315,823
180,000	e	EastGroup Properties, Inc		7,722,000
29,000	e	Equity Lifestyle Properties, Inc		1,276,000
383,000		Equity Residential		14,657,410
146,800	e	Essex Property Trust, Inc		15,634,200
329,000	e	Federal Realty Investment Trust		22,701,000
351,200	e	General Growth Properties, Inc		12,302,536
268,000	e	Gramercy Capital Corp		3,106,120
140,000	g,m,v*	GSC Capital Corp		0
543,000	e	HCP, Inc		17,272,830
1,000,000	e	Host Marriott Corp		13,650,000
94,000	e	Kilroy Realty Corp		4,420,820
371,300	e	Kimco Realty Corp		12,817,276
115,000	e	Liberty Property Trust		3,812,250
282,000	e	Macerich Co		17,520,660
80,000	e*	Maguire Properties, Inc		973,600
654,950	e	Mission West Properties, Inc		7,178,252
268,000	e	Nationwide Health Properties, Inc		8,439,320
211,200	g,m,v*	People's Choice Financial Corp		0
331,600	e	Post Properties, Inc		9,865,100
565,000	e	Prologis		30,707,750
262,900	e	Public Storage, Inc		21,239,691
279,800	e	Regency Centers Corp		16,541,776
583,900	e	Simon Property Group, Inc		52,486,771
164,000		SL Green Realty Corp		13,566,080
300,500	e	Strategic Hotels & Resorts, Inc		2,815,685
89,388	e	Sunstone Hotel Investors, Inc		1,483,841
348,300	e	Taubman Centers, Inc		16,944,795
285,000	e	UDR, Inc		6,378,300
397,000	e	Ventas, Inc		16,900,290

397

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Real Estate Securities Fund
SHARES		COMPANY		VALUE
306,400	e	Vornado Realty Trust	$	26,963,200
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		490,202,726
HOTELS AND OTHER LODGING PLACES - 0.85%
110,900	e	Starwood Hotels & Resorts Worldwide, Inc		4,443,763
		TOTAL HOTELS AND OTHER LODGING PLACES		4,443,763
REAL ESTATE - 2.18%
310,000	g,m,v*	Asset Capital Corp, Inc		1,584,100
155,000		British Land Co plc		2,179,695
226,800		Brookfield Properties Co		4,034,772
357,000	e	Thomas Properties Group, Inc		3,512,880
		TOTAL REAL ESTATE		11,311,447
SECURITY AND COMMODITY BROKERS - 2.17%
411,000	e*	Corrections Corp of America		11,290,170
		TOTAL SECURITY AND COMMODITY BROKERS		11,290,170
		TOTAL COMMON STOCKS		517,248,106
		(Cost $594,729,660)
SHORT-TERM INVESTMENTS - 3.22%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 3.22%
16,746,032		State Street Navigator Securities Lending Prime Portfolio		16,746,032
				16,746,032
		TOTAL SHORT-TERM INVESTMENTS		16,746,032
		(Cost $16,746,032)
		TOTAL PORTFOLIO - 102.79%		533,994,138
		(Cost $611,475,692)
		OTHER ASSETS & LIABILITIES, NET - (2.79)%		(14,523,046	)
		NET ASSETS - 100.00%	$	519,471,092
		The following abbreviation is used in portfolio descriptions:
		plc - Public Limited Company
	*	Non-income producing
	e	All or a portion of these securities are out on loan.
	g	Security is exempt from registration under Rule 144 (A) of the Securities Act of 1933 and may be resold in
		transaction exempt from registration to qualified institutional buyers.
		At June 30, 2008, the value of these securities amounted to $1,584,100 or 0.30% of net assets.
	m	Indicates a security has been deemed illiquid
	v	Security valued at fair value.
		At June 30, 2008 the net unrealized depreciation on investments was $77,481,554, consisting of
		gross unrealized appreciation of $6,772,411 and gross unrealized depreciation of $84,253,965.

398

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Managed Allocation Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MANAGED ALLOCATION FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES		COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - INSTITUTIONAL CLASS - 100.12%
21,597,872	q	TIAA-CREF Institutional Bond Plus Fund II	$	210,147,296
1,968,564	q	TIAA-CREF Institutional Enhanced International Equity Index Fund		17,067,449
1,432,011	q	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		13,074,257
1,154,809	q	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		9,931,356
181,860	q	TIAA-CREF Institutional Growth & Income Fund		1,640,374
5,265,038	q	TIAA-CREF Institutional International Equity Fund		56,862,415
12,058,588	q	TIAA-CREF Institutional Large-Cap Growth Fund		126,735,764
8,635,503	q	TIAA-CREF Institutional Large-Cap Value Fund		108,289,206
21,872	q	TIAA-CREF Institutional Mid-Cap Growth Fund		386,035
15,462	q	TIAA-CREF Institutional Mid-Cap Value Fund		255,424
6,330	q	TIAA-CREF Institutional Short-Term Bond Fund II		63,042
1,922,145	q	TIAA-CREF Institutional Small-Cap Equity Fund		24,180,578
		TOTAL TIAA-CREF MUTUAL FUNDS		568,633,196
		(Cost $587,066,408)
		TOTAL PORTFOLIO - 100.12%		568,633,196
		(Cost $587,066,408)
		OTHER ASSETS & LIABILITIES, NET - (0.12)%		(670,371	)
		NET ASSETS - 100.00%	$	567,962,825
	q	Affiliated Holding.
		At June 30, 2008, the unrealized depreciation on investments was $18,433,212, consisting of
		gross unrealized appreciation of $1,976,607 and gross unrealized depreciation of $20,409,819.

399

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
BOND FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
BONDS - 83.67%
CORPORATE BONDS - 18.99%
AMUSEMENT AND RECREATION SERVICES - 0.15%
$      1,480,000	e	Walt Disney Co	5.700%	07/15/11	A2	$	1,546,070
1,250,000		Walt Disney Co	4.700	12/01/12	A2		1,257,866
		TOTAL AMUSEMENT AND RECREATION SERVICES					2,803,936
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.14%
1,250,000		Home Depot, Inc	5.250	12/16/13	Baa1		1,198,888
1,350,000		Lowe's Cos, Inc	8.250	06/01/10	A1		1,446,248
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					2,645,136
BUSINESS SERVICES - 0.15%
670,000		Daimler Finance North America LLC	5.875	03/15/11	A3		678,618
1,350,000		Daimler Finance North America LLC	5.750	09/08/11	A3		1,376,653
825,000		Oracle Corp	4.950	04/15/13	A2		832,973
		TOTAL BUSINESS SERVICES					2,888,244
CHEMICALS AND ALLIED PRODUCTS - 0.68%
370,000		Abbott Laboratories	5.600	05/15/11	A1		386,919
1,000,000		Air Products & Chemicals, Inc	4.150	02/01/13	A2		977,954
600,000		Amgen, Inc	5.850	06/01/17	A3		590,979
1,200,000	e	Bristol-Myers Squibb Co	5.450	05/01/18	A2		1,183,763
500,000		Bristol-Myers Squibb Co	6.125	05/01/38	A2		484,975
345,000		Clorox Co	5.950	10/15/17	Baa2		345,451
740,000		Ecolab, Inc	6.875	02/01/11	A2		769,079
1,105,000		EI Du Pont de Nemours & Co	4.125	03/06/13	A2		1,074,484
1,750,000		GlaxoSmithKline Capital, Inc	5.650	05/15/18	A1		1,743,319
720,000		GlaxoSmithKline Capital, Inc	6.375	05/15/38	A1		714,695
305,000		Johnson & Johnson	5.150	08/15/12	Aaa		319,476
1,300,000		Johnson & Johnson	5.950	08/15/37	Aaa		1,349,600
900,000		Johnson & Johnson	5.850	07/15/38	Aaa		915,324
250,000		Lubrizol Corp	4.625	10/01/09	Baa3		248,827
1,200,000		Praxair, Inc	5.250	11/15/14	A2		1,213,972
705,000		Schering-Plough Corp	6.550	09/15/37	Baa1		688,518
		TOTAL CHEMICALS AND ALLIED PRODUCTS					13,007,335
COMMUNICATIONS - 2.13%
2,050,000		Alamosa Delaware, Inc	8.500	01/31/12	Baa3		2,029,500
650,000		America Movil SAB de C.V.	6.125	11/15/37	A3		591,340
16,000		AT&T Corp	6.000	03/15/09	NR		16,223
1,900,000		AT&T Corp	7.300	11/15/11	A2		2,023,663
1,875,000		AT&T, Inc	5.100	09/15/14	A2		1,838,008
940,000		AT&T, Inc	6.150	09/15/34	A2		878,310
1,350,000		AT&T, Inc	6.500	09/01/37	A2		1,306,556
1,200,000		AT&T, Inc	6.300	01/15/38	A2		1,133,706

400

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      180,000		BellSouth Corp	6.875%	10/15/31	A2	$	179,808
1,125,000		Comcast Cable Communications Holdings, Inc
			8.375	03/15/13	Baa2		1,238,363
1,100,000		Comcast Corp	5.900	03/15/16	Baa2		1,074,797
4,000,000		Comcast Corp	5.875	02/15/18	Baa2		3,848,356
1,180,000		Comcast Corp	5.650	06/15/35	Baa2		1,002,688
270,000		Comcast Corp	6.500	11/15/35	Baa2		256,669
1,750,000		Comcast Corp	6.400	05/15/38	Baa2		1,614,328
950,000		Deutsche Telekom International Finance BV	8.750	06/15/30	Baa1		1,090,009
1,330,000		France Telecom S.A.	7.750	03/01/11	A3		1,408,523
1,330,000		New Cingular Wireless Services, Inc	7.875	03/01/11	A2		1,415,992
370,000		New Cingular Wireless Services, Inc	8.750	03/01/31	A2		439,034
750,000		Rogers Wireless, Inc	7.500	03/15/15	Baa3		793,944
455,000		Sprint Capital Corp	8.375	03/15/12	Baa3		450,450
1,000,000		Sprint Capital Corp	8.750	03/15/32	Baa3		952,500
550,000		Telecom Italia Capital S.A.	4.950	09/30/14	Baa2		503,389
1,000,000		Telecom Italia Capital S.A.	6.999	06/04/18	Baa2		1,008,518
1,400,000		Telefonica Emisiones SAU	6.221	07/03/17	Baa1		1,399,332
1,700,000		Time Warner Cable, Inc	5.400	07/02/12	Baa2		1,682,828
2,300,000		Time Warner Cable, Inc	5.850	05/01/17	Baa2		2,184,542
225,000		Time Warner Cable, Inc	6.550	05/01/37	Baa2		207,225
1,250,000		Verizon Communications, Inc	5.250	04/15/13	A3		1,242,808
650,000		Verizon Communications, Inc	6.400	02/15/38	A3		605,068
675,000		Verizon Communications, Inc	6.900	04/15/38	A3		667,084
670,000		Verizon New England, Inc	4.750	10/01/13	Baa1		643,313
1,120,000		Verizon New Jersey, Inc	5.875	01/17/12	A3		1,135,605
500,000		Verizon Virginia, Inc	4.625	03/15/13	Baa1		483,342
1,790,000		Viacom, Inc	5.750	04/30/11	Baa3		1,794,174
1,200,000		Viacom, Inc	6.125	10/05/17	Baa3		1,150,591
670,000		Viacom, Inc	6.875	04/30/36	Baa3		629,188
		TOTAL COMMUNICATIONS					40,919,774
DEPOSITORY INSTITUTIONS - 4.92%
12,600,000	g	BA Covered Bond Issuer	5.500	06/14/12	Aaa		13,073,760
6,000,000	g	Banco Bilbao Vizcaya Argentaria S.A.	5.750	07/20/17	Aaa		6,333,942
1,000,000		Banco Nacional de Comercio Exterior SNC	3.875	01/21/09	A1		997,500
500,000		Bank of America Corp	6.250	04/15/12	Aa2		515,436
2,000,000		Bank of America Corp	4.900	05/01/13	Aa2		1,930,114
1,750,000		Bank of America Corp	5.650	05/01/18	Aa2		1,633,777
2,275,000		Bank of America NA	5.300	03/15/17	Aa1		2,088,334
2,225,000		Bank One Corp	5.250	01/30/13	Aa3		2,188,061
700,000	i	BB&T Capital Trust IV	6.820	06/12/57	A1		594,804
675,000		Citigroup, Inc	5.125	02/14/11	Aa3		672,432
750,000		Citigroup, Inc	5.100	09/29/11	Aa3		741,275
575,000		Citigroup, Inc	5.500	04/11/13	Aa3		561,187
2,570,000		Citigroup, Inc	5.125	05/05/14	Aa3		2,454,211
1,700,000		Citigroup, Inc	6.875	03/05/38	Aa3		1,640,492
2,270,000		Credit Suisse	5.000	05/15/13	Aa1		2,209,085
15,700,000	g	Depfa ACS Bank	5.125	03/16/37	Aaa		14,912,331
800,000		Deutsche Bank AG.	4.875	05/20/13	Aa1		786,966
270,000		Golden West Financial Corp	4.750	10/01/12	Aa3		258,841
2,400,000		HSBC Holdings plc	6.500	09/15/37	Aa3		2,187,802
1,050,000	i	Huntington Capital III	6.650	05/15/37	Baa1		661,182

401

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      670,000	i	ING Groep NV	5.775%	12/30/49	A1	$	556,085
370,000		JPMorgan Chase & Co	7.875	06/15/10	Aa3		387,232
250,000		JPMorgan Chase & Co	4.500	01/15/12	Aa2		242,801
3,500,000		JPMorgan Chase & Co	6.400	05/15/38	Aa2		3,246,376
1,690,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3		1,656,577
500,000	i	Manufacturers & Traders Trust Co	5.629	12/01/21	A2		448,770
370,000		Mellon Funding Corp	6.400	05/14/11	Aa3		383,019
1,250,000		National City Corp	4.000	02/01/11	A3		1,010,938
370,000		National Westminster Bank plc	7.375	10/01/09	Aa2		380,524
4,000,000	g	Nationwide Building Society	5.500	07/18/12	Aaa		4,059,712
670,000		Popular North America, Inc	3.875	10/01/08	A3		668,592
840,000		Popular North America, Inc	5.650	04/15/09	A3		831,871
330,000	g, i	Rabobank Capital Funding Trust	5.254	12/30/49	Aa2		283,400
810,000		Regions Financial Corp	6.375	05/15/12	A3		798,126
1,200,000	g, i	Royal Bank of Scotland Group plc	6.990	12/30/49	A1		1,080,034
1,010,000		Union Bank of California NA	5.950	05/11/16	A1		958,081
940,000		US Bank NA	5.700	12/15/08	Aa2		949,533
1,000,000	e,g	VTB Capital S.A.	6.875	05/29/18	A2		975,000
1,300,000		Wachovia Bank NA	4.800	11/01/14	Aa2		1,177,242
2,000,000		Wachovia Bank NA	5.850	02/01/37	Aa2		1,592,032
1,250,000		Wachovia Bank NA	6.600	01/15/38	Aa2		1,089,238
1,350,000		Wachovia Corp	5.300	10/15/11	Aa3		1,320,003
2,325,000		Wachovia Corp	5.500	05/01/13	Aa3		2,225,260
1,100,000	i	Wachovia Corp	7.980	12/30/49	A2		1,010,240
1,350,000		Washington Mutual, Inc	5.500	08/24/11	Baa3		1,174,500
2,530,000		Wells Fargo & Co	5.300	08/26/11	Aa1		2,573,939
1,375,000		Wells Fargo & Co	4.375	01/31/13	Aa1		1,331,422
800,000		Wells Fargo & Co	5.625	12/11/17	Aa1		774,034
4,900,000		Wells Fargo Bank NA	4.750	02/09/15	Aa1		4,673,792
		TOTAL DEPOSITORY INSTITUTIONS					94,299,905
EATING AND DRINKING PLACES - 0.03%
650,000		McDonald's Corp	5.350	03/01/18	A3		634,163
		TOTAL EATING AND DRINKING PLACES					634,163
ELECTRIC, GAS, AND SANITARY SERVICES - 1.34%
1,325,000		American Water Capital Corp	6.085	10/15/17	Baa2		1,270,944
330,000		Carolina Power & Light Co	5.700	04/01/35	A2		307,615
270,000		CenterPoint Energy Resources Corp	7.875	04/01/13	Baa3		289,036
1,000,000		CenterPoint Energy Resources Corp	6.250	02/01/37	Baa3		887,324
1,000,000		Centerpoint Energy, Inc	6.500	05/01/18	Ba1		976,672
600,000		Commonweatlh Edison Co	5.900	03/15/36	Baa2		541,708
939,000		Consolidated Natural Gas Co	6.250	11/01/11	Baa2		969,095
330,000		Consolidated Natural Gas Co	5.000	12/01/14	Baa2		314,690
500,000		Consumers Energy Co	4.400	08/15/09	Baa1		500,411
750,000		Exelon Generation Co LLC	6.200	10/01/17	A3		730,501
550,000	e	Florida Power & Light Co	4.850	02/01/13	Aa3		551,411
670,000		Florida Power Corp	4.500	06/01/10	A2		676,821
500,000		Florida Power Corp	6.400	06/15/38	A2		507,829
1,525,000		Kinder Morgan Energy Partners LP	5.950	02/15/18	Baa2		1,485,736
1,000,000	g	Korea Southern Power Co Ltd	5.375	04/18/13	A1		984,148
750,000		Midamerican Energy Co	5.800	10/15/36	A2		697,618
1,000,000	g	Midamerican Energy Holdings Co	5.750	04/01/18	Baa1		990,502

402

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      270,000		National Fuel Gas Co	5.250%	03/01/13	Baa1	$	261,388
560,000		National Rural Utilities Cooperative Finance
		Corp	5.750	08/28/09	A2		571,142
2,020,000		Nisource Finance Corp	5.400	07/15/14	Baa3		1,889,698
1,050,000		Northern States Power Co	6.250	06/01/36	A2		1,073,342
330,000		Ohio Power Co	5.300	11/01/10	A3		334,150
220,000		Oncor Electric Delivery Co	7.250	01/15/33	Ba1		216,697
670,000		ONEOK Partners LP	5.900	04/01/12	Baa2		673,586
2,020,000		Pacific Gas & Electric Co	4.200	03/01/11	A3		2,003,060
675,000	e	Public Service Co of Colorado	4.875	03/01/13	A3		677,441
270,000		Public Service Co of Colorado	5.500	04/01/14	A3		274,651
660,000		Public Service Electric & Gas Co	5.300	05/01/18	A3		651,110
330,000		Puget Sound Energy, Inc	6.274	03/15/37	Baa2		308,846
850,000		Sempra Energy	6.150	06/15/18	Baa1		842,002
250,000		Southern California Edison Co	6.000	01/15/34	A2		248,925
1,100,000		Texas Eastern Transmission LP	7.300	12/01/10	A3		1,174,309
650,000		Veolia Environnement	5.250	06/03/13	A3		649,401
1,280,000		Virginia Electric and Power Co	4.750	03/01/13	Baa1		1,259,665
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					25,791,474
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.19%
840,000		Cisco Systems, Inc	5.500	02/22/16	A1		847,482
1,750,000		General Electric Co	5.250	12/06/17	Aaa		1,682,331
1,000,000		Koninklijke Philips Electronics NV	6.875	03/11/38	A3		1,032,419
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					3,562,232
FOOD AND KINDRED PRODUCTS - 0.73%
1,650,000		Archer-Daniels-Midland Co	5.450	03/15/18	A2		1,609,814
1,470,000		Bottling Group LLC	4.625	11/15/12	Aa2		1,486,432
600,000		Bunge Ltd Finance Corp	5.100	07/15/15	Baa2		545,694
937,000		Diageo Capital plc	5.125	01/30/12	A3		945,171
650,000		Diageo Finance BV	3.875	04/01/11	A3		638,422
1,125,000	g	Dr. Pepper Snapple Group, Inc	6.820	05/01/18	Baa3		1,129,642
350,000	g	Dr. Pepper Snapple Group, Inc	7.450	05/01/38	Baa3		367,291
1,150,000		Kraft Foods, Inc	6.000	02/11/13	Baa2		1,161,870
255,000		Kraft Foods, Inc	6.125	02/01/18	Baa2		247,881
1,225,000		Kraft Foods, Inc	6.125	08/23/18	Baa2		1,186,315
330,000		Kraft Foods, Inc	6.500	11/01/31	Baa2		305,433
2,800,000	g	Miller Brewing Co	4.250	08/15/08	Baa1		2,803,819
900,000		PepsiCo, Inc	5.000	06/01/18	Aa2		878,095
670,000		WM Wrigley Jr Co	4.650	07/15/15	A1		649,048
		TOTAL FOOD AND KINDRED PRODUCTS					13,954,927
FOOD STORES - 0.18%
850,000		Delhaize Group	6.500	06/15/17	Baa3		857,411
740,000		Kroger Co	6.800	04/01/11	Baa2		771,658
1,000,000		Kroger Co	6.400	08/15/17	Baa2		1,019,957
325,000		Safeway, Inc	4.950	08/16/10	Baa2		327,102
370,000		Safeway, Inc	7.250	02/01/31	Baa2		396,637
		TOTAL FOOD STORES					3,372,765
GENERAL MERCHANDISE STORES - 0.29%
1,000,000		JC Penney Corp, Inc	5.750	02/15/18	Baa3		892,223

403

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      350,000		Macys Retail Holdings, Inc	7.875%	07/15/15	Baa3	$	352,562
700,000		Target Corp	6.000	01/15/18	A2		702,500
930,000		Wal-Mart Stores, Inc	6.875	08/10/09	Aa2		964,188
875,000		Wal-Mart Stores, Inc	4.250	04/15/13	Aa2		870,102
1,725,000		Wal-Mart Stores, Inc	6.200	04/15/38	Aa2		1,694,906
		TOTAL GENERAL MERCHANDISE STORES					5,476,481
HEALTH SERVICES - 0.06%
1,150,000		Quest Diagnostics, Inc	6.400	07/01/17	Baa3		1,139,175
		TOTAL HEALTH SERVICES					1,139,175
HOLDING AND OTHER INVESTMENT OFFICES - 0.16%
435,000		BHP Billiton Finance Ltd	5.400	03/29/17	A1		415,209
500,000		Colonial Realty LP	6.250	06/15/14	Baa3		466,222
500,000		iStar Financial, Inc	5.700	03/01/14	Baa2		420,000
1,500,000		iStar Financial, Inc	5.850	03/15/17	Baa2		1,186,875
670,000		Simon Property Group LP	5.600	09/01/11	A3		662,618
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					3,150,924
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.38%
870,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		869,826
1,690,000		Caterpillar, Inc	6.050	08/15/36	A2		1,678,567
935,000		Dover Corp	6.500	02/15/11	A2		980,774
2,000,000		Hewlett-Packard Co	5.250	03/01/12	A2		2,049,004
1,000,000		Hewlett-Packard Co	5.400	03/01/17	A2		980,970
825,000		John Deere Capital Corp	5.350	04/03/18	A2		813,052
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					7,372,193
INSTRUMENTS AND RELATED PRODUCTS - 0.11%
600,000		Medtronic, Inc	4.750	09/15/15	A1		582,314
270,000		Northrop Grumman Corp	7.750	02/15/31	Baa1		317,880
500,000		Thermo Fisher Scientific, Inc	5.000	06/01/15	Baa2		469,994
650,000		Xerox Corp	7.625	06/15/13	Baa2		674,965
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					2,045,153
INSURANCE CARRIERS - 0.69%
1,140,000		Aetna, Inc	6.625	06/15/36	A3		1,094,698
245,000		Aetna, Inc	6.750	12/15/37	A3		232,044
330,000		Allstate Corp	5.000	08/15/14	A1		325,269
1,350,000		American International Group, Inc	5.050	10/01/15	Aa3		1,223,204
750,000		Chubb Corp	6.000	05/11/37	A2		682,382
2,200,000	i	Chubb Corp	6.375	03/29/67	A3		2,012,439
670,000	g	Liberty Mutual Group, Inc	6.500	03/15/35	Baa2		527,582
500,000	g	Mantis Reef Ltd	4.799	11/03/09	A3		488,517
770,000		Metlife, Inc	5.000	06/15/15	A2		748,073
500,000		Metlife, Inc	5.700	06/15/35	A2		440,876
1,010,000	g	Pricoa Global Funding I	3.900	12/15/08	Aa3		1,005,278
1,700,000	g	Principal Life Global Funding I	5.125	10/15/13	Aa2		1,676,506
1,600,000	g	Prudential Funding LLC	6.750	09/15/23	A1		1,557,277
750,000		WellPoint, Inc	5.875	06/15/17	Baa1		724,938
655,000		WellPoint, Inc	5.850	01/15/36	Baa1		562,851
		TOTAL INSURANCE CARRIERS					13,301,934

404

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
METAL MINING - 0.19%
$      180,000		Barrick Gold Finance Co	4.875%	11/15/14	Baa1	$	171,502
670,000	g	Corp Nacional del Cobre de Chile -
		CODELCO	4.750	10/15/14	Aa3		644,310
875,000		Freeport-McMoRan Copper & Gold, Inc	8.375	04/01/17	Ba2		923,125
850,000		Rio Tinto Finance USA Ltd	5.875	07/15/13	A3		854,712
900,000		Rio Tinto Finance USA Ltd	6.500	07/15/18	A3		902,731
200,000		Vale Overseas Ltd	6.250	01/11/16	Baa3		195,343
		TOTAL METAL MINING					3,691,723
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.05%
400,000	g	Controladora Mabe S.A. C.V.	6.500	12/15/15	NR		412,000
560,000		Harsco Corp	5.125	09/15/13	A3		572,109
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES					984,109
MISCELLANEOUS RETAIL - 0.11%
2,150,000		CVS Caremark Corp	5.750	06/01/17	Baa2		2,114,635
		TOTAL MISCELLANEOUS RETAIL					2,114,635
MOTION PICTURES - 0.11%
1,310,000		Historic TW, Inc	6.625	05/15/29	Baa2		1,192,069
910,000		Time Warner, Inc	6.875	05/01/12	Baa2		930,976
		TOTAL MOTION PICTURES					2,123,045
NONDEPOSITORY INSTITUTIONS - 1.97%
2,500,000		American General Finance Corp	6.900	12/15/17	A1		2,178,913
1,350,000	g	American Honda Finance Corp	5.125	12/15/10	Aa3		1,390,831
1,900,000	e	Boeing Capital Corp Ltd	6.100	03/01/11	A2		2,001,127
1,480,000		Capital One Financial Corp	5.700	09/15/11	A3		1,407,696
900,000		CIT Group Funding Co of Canada	5.200	06/01/15	Baa1		619,907
1,800,000		CIT Group, Inc	5.850	09/15/16	Baa1		1,241,946
1,000,000		General Electric Capital Corp	6.000	06/15/12	Aaa		1,033,386
7,200,000		General Electric Capital Corp	5.500	06/04/14	Aaa		7,348,176
750,000		General Electric Capital Corp	5.625	05/01/18	Aaa		725,291
330,000	g, i	HSBC Capital Funding LP	4.610	12/30/49	A1		290,941
1,520,000		HSBC Finance Corp	5.250	01/14/11	Aa3		1,523,654
400,000		HSBC Finance Corp	5.900	06/19/12	Aa3		401,597
7,250,000		HSBC Finance Corp	4.750	07/15/13	Aa3		6,924,758
1,520,000		International Lease Finance Corp	5.450	03/24/11	A1		1,428,412
1,750,000		International Lease Finance Corp	5.750	06/15/11	A1		1,629,476
875,000		International Lease Finance Corp	6.625	11/15/13	A1		786,180
900,000		International Lease Finance Corp	5.650	06/01/14	A1		781,807
3,250,000		Kreditanstalt fuer Wiederaufbau	4.500	07/16/18	Aaa		3,224,569
1,077,000		MBNA Corp	6.125	03/01/13	Aa2		1,107,214
1,210,000	h	National Rural Utilities Cooperative Finance
		Corp	5.500	07/01/13	A1		1,223,876
460,000		Toyota Motor Credit Corp	2.875	08/01/08	Aaa		459,888
		TOTAL NONDEPOSITORY INSTITUTIONS					37,729,645
NONMETALLIC MINERALS, EXCEPT FUELS - 0.02%
425,000		Vulcan Materials Co	6.300	06/15/13	A3		430,587
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS					430,587

405

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
OIL AND GAS EXTRACTION - 0.95%
$      1,110,000		Baker Hughes, Inc	6.875%	01/15/29	A2	$	1,208,555
600,000		BJ Services Co	5.750	06/01/11	Baa1		606,347
930,000		Burlington Resources Finance Co	6.400	08/15/11	A2		982,538
1,110,000		Burlington Resources Finance Co	7.200	08/15/31	A2		1,258,653
850,000		Canadian Natural Resources Ltd	5.150	02/01/13	Baa2		851,473
385,000		ConocoPhillips Canada Funding Co	5.300	04/15/12	A1		395,801
270,000		Equitable Resources, Inc	5.150	11/15/12	Baa1		263,945
500,000		Husky Energy, Inc	6.250	06/15/12	Baa2		515,169
1,250,000		Husky Energy, Inc	6.800	09/15/37	Baa2		1,238,396
330,000		Nexen, Inc	5.050	11/20/13	Baa2		322,454
1,500,000		Nexen, Inc	5.650	05/15/17	Baa2		1,458,366
770,000		Nexen, Inc	6.400	05/15/37	Baa2		729,064
2,000,000	g	Pemex Projec Funding Master Trust	5.750	03/01/18	Baa1		1,975,000
3,000,000	g	Pemex Projec Funding Master Trust	6.625	06/15/38	Baa1		3,071,387
500,000		Petrobras International Finance Co	5.875	03/01/18	Baa1		480,972
500,000		Weatherford International, Inc	5.950	06/15/12	Baa1		509,879
2,230,000		XTO Energy, Inc	6.250	04/15/13	Baa2		2,296,447
		TOTAL OIL AND GAS EXTRACTION					18,164,446
PAPER AND ALLIED PRODUCTS - 0.11%
1,250,000		International Paper Co	7.400	06/15/14	Baa3		1,247,590
750,000		Kimberly-Clark Corp	6.625	08/01/37	A2		803,252
		TOTAL PAPER AND ALLIED PRODUCTS					2,050,842
PETROLEUM AND COAL PRODUCTS - 0.03%
700,000		Valero Energy Corp	6.625	06/15/37	Baa3		641,794
		TOTAL PETROLEUM AND COAL PRODUCTS					641,794
PIPELINES, EXCEPT NATURAL GAS - 0.41%
670,000		Enbridge Energy Partners LP	4.000	01/15/09	Baa2		666,610
330,000		Enterprise Products Operating LP	4.950	06/01/10	Baa3		329,928
500,000		Enterprise Products Operating LP	5.600	10/15/14	Baa3		489,799
370,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		369,910
670,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		668,494
900,000	g	Rockies Express Pipeline LLC	6.250	07/15/13	Baa3		909,904
370,000		TransCanada Pipelines Ltd	4.000	06/15/13	A2		347,966
2,900,000		TransCanada Pipelines Ltd	7.690	06/30/16	A3		3,182,852
1,000,000		TransCanada Pipelines Ltd	5.850	03/15/36	A3		886,273
		TOTAL PIPELINES, EXCEPT NATURAL GAS					7,851,736
PRIMARY METAL INDUSTRIES - 0.12%
1,725,000	g	ArcelorMittal	5.375	06/01/13	Baa2		1,698,576
250,000	g	Xstrata Finance Canada Ltd	5.500	11/16/11	Baa2		247,295
350,000	g	Xstrata Finance Canada Ltd	6.900	11/15/37	Baa2		336,666
		TOTAL PRIMARY METAL INDUSTRIES					2,282,537
PRINTING AND PUBLISHING - 0.21%
330,000		News America, Inc	7.625	11/30/28	Baa1		350,748
1,250,000		News America, Inc	6.150	03/01/37	Baa1		1,150,891
1,500,000	e	Thomson Corp	5.950	07/15/13	Baa1		1,506,030
1,125,000		Thomson Corp	5.700	10/01/14	Baa1		1,107,630
		TOTAL PRINTING AND PUBLISHING					4,115,299

406

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
RAILROAD TRANSPORTATION - 0.22%
$      670,000		Burlington Northern Santa Fe Corp	6.750%	07/15/11	Baa1	$	702,646
450,000		Burlington Northern Santa Fe Corp	6.150	05/01/37	Baa1		423,987
370,000		Canadian National Railway Co	4.400	03/15/13	A3		360,235
325,000		Canadian Pacific Railway Co	5.750	05/15/13	Baa3		323,126
380,000		CSX Corp	6.150	05/01/37	Baa3		318,579
625,000	g	Norfolk Southern Corp	5.750	04/01/18	Baa1		615,118
1,263,000		Norfolk Southern Corp	5.590	05/17/25	Baa1		1,141,699
330,000		Union Pacific Corp	6.500	04/15/12	Baa2		344,969
		TOTAL RAILROAD TRANSPORTATION					4,230,359
REAL ESTATE - 0.03%
750,000	g, i	USB Realty Corp	6.091	12/30/49	A1		547,500
		TOTAL REAL ESTATE					547,500
SECURITY AND COMMODITY BROKERS - 1.59%
1,500,000	e	Bear Stearns Cos, Inc	5.700	11/15/14	Aa2		1,449,625
1,000,000		Bear Stearns Cos, Inc	6.400	10/02/17	Aa2		988,191
500,000		Bear Stearns Cos, Inc	7.250	02/01/18	Aa2		521,783
1,000,000		Eaton Vance Corp	6.500	10/02/17	A3		1,008,816
1,000,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		695,360
1,500,000		Goldman Sachs Group, Inc	5.700	09/01/12	Aa3		1,504,706
670,000		Goldman Sachs Group, Inc	4.750	07/15/13	Aa3		644,474
530,000		Goldman Sachs Group, Inc	5.150	01/15/14	Aa3		513,024
850,000		Goldman Sachs Group, Inc	5.950	01/18/18	Aa3		815,963
1,200,000		Goldman Sachs Group, Inc	6.150	04/01/18	Aa3		1,164,191
200,000		Goldman Sachs Group, Inc	6.450	05/01/36	A1		178,339
500,000		Goldman Sachs Group, Inc	6.750	10/01/37	A1		457,373
750,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3		489,375
1,700,000		Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		1,608,768
3,425,000		Lehman Brothers Holdings, Inc	6.875	05/02/18	A1		3,315,760
550,000	i	Lehman Brothers Holdings, Inc	6.000	05/03/32	A2		420,498
1,750,000		Lehman Brothers Holdings, Inc	7.500	05/11/38	A2		1,623,248
875,000		Merrill Lynch & Co, Inc	5.450	02/05/13	A1		825,302
1,725,000		Merrill Lynch & Co, Inc	6.150	04/25/13	A1		1,671,872
2,550,000		Merrill Lynch & Co, Inc	6.875	04/25/18	A1		2,426,901
1,190,000		Morgan Stanley	5.750	10/18/16	Aa3		1,100,001
1,375,000		Morgan Stanley	5.450	01/09/17	Aa3		1,248,815
1,250,000		Morgan Stanley	5.550	04/27/17	Aa3		1,117,996
4,280,570	g	Morgan Stanley Tracers	6.789	06/15/12	Baa2		4,645,361
		TOTAL SECURITY AND COMMODITY BROKERS					30,435,742
TOBACCO PRODUCTS - 0.06%
850,000		Philip Morris Interanational, Inc	4.875	05/16/13	A2		834,978
300,000		Philip Morris Interanational, Inc	6.375	05/16/38	A2		292,357
		TOTAL TOBACCO PRODUCTS					1,127,335
TRANSPORTATION BY AIR - 0.05%
1,050,000		FedEx Corp	3.500	04/01/09	Baa2		1,046,438
		TOTAL TRANSPORTATION BY AIR					1,046,438
TRANSPORTATION EQUIPMENT - 0.27%

407

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      2,020,000	g	BAE Systems Holdings, Inc	6.400%	12/15/11	Baa2	$	2,076,946
500,000		Honeywell International, Inc	5.700	03/15/37	A2		471,075
775,000		Lockheed Martin Corp	6.150	09/01/36	Baa1		766,737
740,000		United Technologies Corp	6.350	03/01/11	A2		778,660
875,000		United Technologies Corp	5.375	12/15/17	A2		874,304
235,000		United Technologies Corp	6.050	06/01/36	A2		232,821
		TOTAL TRANSPORTATION EQUIPMENT					5,200,543
WHOLESALE TRADE-DURABLE GOODS - 0.05%
1,000,000		Vale Overseas Ltd	6.250	01/23/17	Baa3		967,976
		TOTAL WHOLESALE TRADE-DURABLE GOODS					967,976
WHOLESALE TRADE-NONDURABLE GOODS - 0.11%
180,000		Colgate-Palmolive Co	6.450	06/16/28	Aa3		190,905
1,000,000	e	Enterprise Products Operating LLC	6.500	01/31/19	Baa3		1,005,300
960,000		Procter & Gamble Co	5.550	03/05/37	Aa3		922,682
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					2,118,887
		TOTAL CORPORATE BONDS					364,220,929
		(Cost $372,998,847)
GOVERNMENT BONDS - 64.68%
AGENCY SECURITIES - 10.79%
1,580,979		Cal Dive I- Title XI, Inc	4.930	02/01/27	NR		1,624,488
1,690,000		Federal Farm Credit Bank (FFCB)	3.375	07/15/08	Aaa		1,690,502
1,690,000		FFCB	4.125	04/15/09	Aaa		1,706,633
10,000,000		FFCB	2.625	04/21/11	Aaa		9,759,930
10,000,000		Federal Home Loan Bank (FHLB)	5.000	10/16/09	Aaa		10,060,630
4,000,000		FHLB	2.375	04/30/10	Aaa		3,944,556
1,010,000		Federal Home Loan Mortgage Corp (FHLMC)
			3.750	02/27/09	Aaa		1,016,105
3,500,000		FHLMC	4.875	02/09/10	Aaa		3,601,111
13,688,000		FHLMC	5.875	03/21/11	Aa2		14,411,945
7,500,000		FHLMC	5.500	08/20/12	Aaa		7,935,660
3,000,000		FHLMC	4.125	12/21/12	Aaa		3,010,359
2,000,000		FHLMC	3.500	05/29/13	Aaa		1,943,372
13,000,000		FHLMC	3.750	06/28/13	Aaa		12,761,788
7,670,000		FHLMC	5.125	10/18/16	Aaa		7,887,007
14,750,000		FHLMC	5.125	11/17/17	Aaa		15,153,604
129,830	e	FHLMC	8.375	12/30/49	Aa3		3,154,869
6,760,000		Federal National Mortgage Association
		(FNMA)	3.660	02/25/09	Aaa		6,795,801
32,260,000		FNMA	5.100	09/10/09	Aaa		32,395,492
1,975,000		FNMA	2.375	05/20/10	Aaa		1,946,682
4,200,000	d	FNMA	7.125	06/15/10	Aaa		4,510,103
4,000,000		FNMA	5.000	10/15/11	Aaa		4,163,560
5,000,000		FNMA	5.375	06/12/17	Aaa		5,226,785
5,672,172		FNMA	6.000	06/01/36	A		5,772,923
572,300		FNMA	6.000	06/01/36	A		578,191
5,000,000		FNMA	5.625	07/15/37	Aaa		5,316,490
493,758	e	FNMA	8.250	12/30/49	Aa3		11,331,746
1,541,088		Overseas Private Investment Corp	3.420	01/15/15	NR		1,538,530
670,000		Private Export Funding Corp	5.870	07/31/08	Aaa		671,760

408

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      5,000,000		Private Export Funding Corp	4.900%	12/15/11	Aaa	$	5,168,710
7,500,000		Private Export Funding Corp	3.550	04/15/13	Aaa		7,264,155
13,000,000		Private Export Funding Corp	5.450	09/15/17	Aaa		13,660,322
970,312		Totem Ocean Trailer Express, Inc	4.514	12/18/19	NR		989,282
		TOTAL AGENCY SECURITIES					206,993,091
FOREIGN GOVERNMENT BONDS - 2.61%
330,000		African Development Bank	3.250	08/01/08	Aaa		329,802
1,010,000		Asian Development Bank/Pasig	4.125	09/15/10	Aaa		1,031,383
1,690,000	e	Canada Mortgage & Housing Corp	4.800	10/01/10	Aaa		1,745,437
270,000		Chile Government International Bond	5.500	01/15/13	A2		279,477
1,110,000		China Development Bank	5.000	10/15/15	A1		1,084,898
600,000		Development Bank of Japan	4.250	06/09/15	Aaa		599,699
840,000		Eksportfinans A/S	5.000	02/14/12	Aaa		865,516
600,000		European Investment Bank	4.875	02/15/36	Aaa		590,303
1,690,000		Federal Republic of Germany	3.875	06/01/10	Aaa		1,698,281
6,000,000	e	Federative Republic of Brazil	6.000	01/17/17	Ba1		6,117,000
3,000,000		Federative Republic of Brazil	8.000	01/15/18	Ba1		3,331,500
900,000		Hellenic Republic	4.625	06/25/13	NR		899,442
2,020,000		International Finance Corp	5.125	05/02/11	Aaa		2,120,517
920,000		Israel Government International Bond	5.500	11/09/16	A1		942,944
1,275,000	e	Italy Government International Bond	5.375	06/12/17	NR		1,348,842
670,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		682,805
775,000		Landwirtschaftliche Rentenbank	5.250	07/02/12	Aaa		815,840
3,000,000		Landwirtschaftliche Rentenbank	5.125	02/01/17	Aaa		3,136,881
242,000		Mexico Government International Bond	6.375	01/16/13	Baa1		254,705
646,000		Mexico Government International Bond	5.875	01/15/14	Baa1		671,840
750,000		Mexico Government International Bond	6.750	09/27/34	Baa1		795,750
1,000,000		Mexico Government International Bond	6.050	01/11/40	Baa1		961,500
1,150,000		Oesterreichische Kontrollbank AG.	5.000	04/25/17	Aaa		1,193,237
3,380,000	e	Province of Manitoba Canada	4.450	04/12/10	Aa1		3,442,229
1,500,000	e	Province of Manitoba Canada	5.000	02/15/12	Aa1		1,563,011
370,000		Province of Ontario	5.500	10/01/08	Aa1		372,745
3,740,000		Province of Ontario	3.375	05/20/11	Aa1		3,708,988
2,600,000		Province of Quebec Canada	5.125	11/14/16	Aa2		2,668,666
1,285,000	e	Province of Quebec Canada	4.625	05/14/18	Aa2		1,260,698
930,000		Province of Quebec Canada	7.500	09/15/29	Aa2		1,188,155
1,350,000		Province of Saskatchewan Canada	8.000	02/01/13	Aa1		1,566,682
900,000		South Africa Government International Bond
			5.875	05/30/22	Baa1		832,500
1,845,000		Svensk Exportkredit AB	5.125	03/01/17	Aa1		1,896,444
		TOTAL FOREIGN GOVERNMENT BONDS					49,997,717
MORTGAGE BACKED SECURITIES - 34.36%
1,264,886		Federal Home Loan Mortgage Corp (FHLMC)
			6.000	09/15/16			1,306,395
1,655,052		FHLMC	4.500	09/15/35			1,622,311
1,787,912	i	FHLMC	5.060	02/01/36			1,805,561
655,163	i	FHLMC	5.798	07/01/36			667,995
1,969,250	i	FHLMC	5.005	09/01/36			1,974,437
1,604,828	i	FHLMC	5.924	09/01/36			1,639,400
3,475,367	i	FHLMC	6.106	09/01/36			3,557,609
5,346,978	i	FHLMC	5.708	03/01/37			5,407,848

409

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$      5,347,724	i	FHLMC	5.878%	04/01/37	$	5,440,087
5,082,399	i	FHLMC	6.079	05/01/37		5,171,261
1,613,279	i	FHLMC	5.721	06/01/37		1,638,545
3,591,641	i	FHLMC	5.874	08/01/37		3,654,163
4,389,788	i	FHLMC	5.863	09/01/37		4,461,434
72,549	d	Federal Home Loan Mortgage Corp Gold
		(FGLMC)	7.500	01/01/16		76,076
4,281		FGLMC	7.500	05/01/16		4,490
5,290		FGLMC	7.500	06/01/16		5,546
2,472,532		FGLMC	4.500	09/01/18		2,417,210
2,364,780		FGLMC	4.500	01/01/19		2,305,956
4,182,564		FGLMC	4.500	05/01/19		4,078,523
3,175,179		FGLMC	5.000	05/01/20		3,151,894
483,145		FGLMC	4.500	07/01/20		469,920
70,552		FGLMC	7.000	10/01/20		74,550
7,779,624		FGLMC	4.500	06/01/21		7,566,657
12,804,023		FGLMC	4.500	06/01/21		12,453,513
7,687		FGLMC	6.500	10/01/28		8,006
115,696	d	FGLMC	6.500	01/01/29		120,503
17,957		FGLMC	6.500	03/01/29		18,704
62,722		FGLMC	6.500	07/01/29		65,348
11,918		FGLMC	8.000	01/01/31		12,911
123,100	d	FGLMC	6.500	09/01/31		128,022
131,261		FGLMC	8.000	09/01/31		142,201
793,792		FGLMC	7.000	12/01/31		839,039
3,180,944		FGLMC	6.000	03/01/33		3,234,561
491,437		FGLMC	6.000	03/01/33		499,260
2,124,495		FGLMC	4.500	07/01/33		1,980,470
3,622,130		FGLMC	5.000	09/01/33		3,493,163
1,725,383		FGLMC	5.500	09/01/33		1,709,478
1,314,384		FGLMC	5.500	09/01/33		1,302,267
1,693,651		FGLMC	5.500	09/01/33		1,678,038
2,111,650		FGLMC	5.500	10/01/33		2,092,184
6,751,598		FGLMC	5.500	12/01/33		6,693,577
11,491,558		FGLMC	7.000	12/01/33		12,146,570
5,812,457		FGLMC	5.000	01/01/34		5,605,502
14,730,961		FGLMC	5.000	12/01/34		14,188,045
987,254		FGLMC	5.500	12/01/34		976,302
4,735,704		FGLMC	4.500	04/01/35		4,407,257
2,224,624		FGLMC	6.000	05/01/35		2,252,389
3,133,691		FGLMC	7.000	05/01/35		3,312,310
1,466,915		FGLMC	6.000	07/01/35		1,485,223
371,855		FGLMC	5.500	08/01/35		367,382
547,676		FGLMC	6.000	08/01/35		554,512
1,069,355		FGLMC	5.000	10/01/35		1,028,273
2,929,643		FGLMC	5.000	11/01/35		2,817,093
987,899		FGLMC	6.000	01/01/36		999,302
845,728		FGLMC	7.000	01/01/36		891,133
3,264,796		FGLMC	5.500	04/01/36		3,221,436
761,122		FGLMC	6.500	05/01/36		785,606
2,221,133		FGLMC	6.500	10/01/36		2,292,583
675,576		FGLMC	6.500	12/01/36		692,030
5,610,181		FGLMC	5.500	01/01/37		5,535,671

410

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$      8,820,224		FGLMC	5.500%	04/01/37	$	8,697,569
9,836,876		FGLMC	5.500	05/01/37		9,700,082
3,453,845		FGLMC	6.000	08/01/37		3,492,634
1,902,131		FGLMC	6.000	09/01/37		1,923,493
3,992,785		FGLMC	6.500	09/01/37		4,119,978
1,533,173		FGLMC	5.000	04/01/38		1,470,439
3,191,440		FGLMC	6.500	05/01/38		3,293,105
1,000,000	h	FGLMC	5.500	07/01/38		986,094
80,050		Federal National Mortgage Association
		(FNMA)	5.000	06/01/13		80,506
1,872,954		FNMA	4.440	07/01/13		1,825,096
37,758		FNMA	6.000	09/01/13		38,873
2,119,155		FNMA	4.739	10/01/13		2,089,877
29,748		FNMA	6.500	12/01/13		31,002
1,520,206		FNMA	4.777	02/01/14		1,500,137
29,672		FNMA	6.000	06/01/14		30,548
2,213		FNMA	6.500	07/01/14		2,308
4,484,364		FNMA	4.640	11/01/14		4,361,939
5,315,200		FNMA	4.869	03/01/16		5,351,756
72,099		FNMA	6.500	10/01/16		75,238
378,634	d	FNMA	6.500	11/01/16		395,113
275,410	d	FNMA	6.500	04/01/17		287,310
349,454		FNMA	5.500	04/01/18		354,959
4,006,459		FNMA	5.500	04/01/18		4,065,263
152,691		FNMA	5.500	05/01/18		154,933
1,489,115		FNMA	4.500	10/01/18		1,456,262
3,399,931	d	FNMA	5.000	11/01/18		3,396,978
196,707		FNMA	6.000	01/01/19		201,360
360,725		FNMA	4.500	05/01/19		351,865
949,651		FNMA	5.000	03/01/20		948,454
7,000,000		FNMA	5.000	02/25/21		6,921,250
1,389,489		FNMA	5.000	03/01/21		1,387,738
734,085		FNMA	5.000	11/01/23		716,363
614,381		FNMA	5.500	02/01/24		613,982
350,126		FNMA	5.500	07/01/24		349,667
4,482		FNMA	8.000	07/01/24		4,873
4,555,717		FNMA	5.000	03/01/25		4,436,571
10,269,528		FNMA	5.000	10/01/25		10,000,949
2,632		FNMA	7.500	01/01/29		2,844
11,908		FNMA	6.500	04/01/29		12,384
17,345		FNMA	7.500	07/01/29		18,721
3,673		FNMA	7.500	07/01/29		3,964
2,788		FNMA	7.500	02/01/31		3,004
18,027		FNMA	7.500	03/01/31		19,425
9,666		FNMA	7.500	05/01/31		10,417
19,968		FNMA	6.500	09/01/31		20,741
8,528		FNMA	6.500	10/01/31		8,859
109,575		FNMA	6.500	11/01/31		113,820
241,231		FNMA	6.000	01/01/32		245,298
3,454,038		FNMA	5.500	01/01/33		3,426,986
17,901,282		FNMA	6.000	01/01/33		18,180,641
2,446,036		FNMA	5.000	02/01/33		2,361,237
423,452		FNMA	5.000	02/01/33		408,508

411

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$      2,267,187		FNMA	4.500%	03/25/33	$	2,240,458
1,340,158		FNMA	4.500	08/01/33		1,248,703
1,005,851		FNMA	5.000	08/01/33		970,352
1,010,000		FNMA	5.500	08/25/33		1,021,999
770,581		FNMA	5.500	09/01/33		764,064
1,023,426		FNMA	5.500	09/01/33		1,014,772
2,260,981		FNMA	4.500	10/01/33		2,106,687
1,145,985		FNMA	5.000	10/01/33		1,105,540
1,180,661		FNMA	5.000	10/01/33		1,138,993
4,110,956	d	FNMA	5.500	10/01/33		4,076,190
2,458,714		FNMA	5.500	10/01/33		2,437,921
9,475,971		FNMA	5.000	11/01/33		9,141,536
3,049,395	d	FNMA	5.500	12/01/33		3,023,607
4,438,303		FNMA	6.000	02/01/34		4,503,405
427,924		FNMA	5.000	03/01/34		412,822
8,143,480		FNMA	5.000	03/01/34		7,856,073
378,427		FNMA	5.000	03/01/34		365,072
576,542		FNMA	5.000	03/01/34		556,194
1,160,122		FNMA	5.000	03/01/34		1,119,178
3,293,320		FNMA	5.000	04/01/34		3,172,973
10,381,997		FNMA	5.000	08/01/34		10,018,607
1,286,480	h	FNMA	6.000	08/01/34		1,305,351
1,899,574		FNMA	5.500	09/01/34		1,879,948
7,178,000		FNMA	5.500	09/01/34		7,103,837
1,136,476		FNMA	6.000	11/01/34		1,151,015
343,732	h	FNMA	6.000	12/01/34		348,129
410,560	h	FNMA	6.000	12/01/34		415,813
7,935,022		FNMA	4.500	01/01/35		7,398,479
915,590		FNMA	5.500	01/01/35		906,131
22,822,944		FNMA	5.500	02/01/35		22,629,930
9,723,642		FNMA	5.000	02/25/35		9,741,927
3,509,283		FNMA	5.500	04/01/35		3,469,736
6,546,713		FNMA	5.500	04/01/35		6,479,072
862,289	h	FNMA	6.000	04/01/35		873,321
4,602,493		FNMA	4.500	05/01/35		4,288,409
922,763		FNMA	5.500	05/01/35		912,364
2,253,510		FNMA	6.000	05/01/35		2,278,818
123,615		FNMA	7.500	06/01/35		131,918
3,344,475		FNMA	5.000	08/01/35		3,217,032
8,621,159		FNMA	5.500	09/01/35		8,548,250
2,689,065		FNMA	5.000	10/01/35		2,586,597
3,240,399		FNMA	5.500	10/01/35		3,203,882
2,836,044		FNMA	5.500	10/01/35		2,804,083
910,191		FNMA	5.000	11/01/35		868,825
5,195,840		FNMA	5.500	11/01/35		5,137,286
522,165		FNMA	5.500	12/01/35		516,281
2,466,465		FNMA	6.000	12/01/35		2,494,165
917,771		FNMA	5.000	02/01/36		862,150
537,416		FNMA	5.000	02/01/36		504,846
4,351,976	i	FNMA	5.734	02/01/36		4,443,345
2,484,332		FNMA	6.500	02/01/36		2,563,472
2,357,277		FNMA	5.500	04/01/36		2,330,712
3,305,458	i	FNMA	5.976	07/01/36		3,375,202

412

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$      3,687,011	i	FNMA	5.986%	07/01/36	$	3,758,431
1,719,994		FNMA	6.500	09/01/36		1,773,173
3,073,446		FNMA	6.000	10/01/36		3,105,082
571,987	i	FNMA	5.770	12/01/36		584,013
3,769,501		FNMA	6.500	12/01/36		3,886,047
2,631,194		FNMA	6.500	12/01/36		2,691,989
2,736,215	h	FNMA	5.000	02/01/37		2,625,384
12,669,371		FNMA	5.500	02/01/37		12,510,757
1,617,954	i	FNMA	6.020	02/01/37		1,652,801
707,612		FNMA	7.000	02/01/37		742,525
5,506,685		FNMA	5.500	03/01/37		5,434,853
2,825,943		FNMA	6.500	03/01/37		2,913,316
1,398,628		FNMA	6.500	03/01/37		1,441,574
2,914,427		FNMA	7.000	04/01/37		3,058,221
7,595,093		FNMA	6.000	06/01/37		7,671,655
2,641,813		FNMA	6.000	07/01/37		2,668,445
5,502,963		FNMA	6.000	08/01/37		5,514,963
2,919,310		FNMA	6.000	08/01/37		2,948,738
1,128,767		FNMA	6.500	08/01/37		1,163,427
4,624,696		FNMA	6.500	08/01/37		4,766,700
1,089,065		FNMA	6.000	09/01/37		1,100,044
1,712,311		FNMA	6.000	09/01/37		1,729,573
1,341,243		FNMA	6.000	09/01/37		1,354,764
1,819,330		FNMA	6.000	09/01/37		1,837,670
3,465,210		FNMA	6.500	09/01/37		3,571,611
7,082,117	i	FNMA	5.929	10/01/37		7,202,533
1,404,800		FNMA	6.000	10/01/37		1,418,962
7,147,370		FNMA	6.500	10/01/37		7,366,834
3,560,126		FNMA	6.500	11/01/37		3,669,442
3,092,882		FNMA	7.000	11/01/37		3,245,480
7,452,787		FNMA	5.500	01/01/38		7,355,570
712,553		FNMA	6.500	01/01/38		734,433
13,371,565		FNMA	5.500	02/01/38		13,195,803
432,468		FNMA	6.500	02/01/38		445,748
866,397		FNMA	6.500	03/01/38		892,914
2,779,179		FNMA	6.500	03/01/38		2,864,237
1,926,669		FNMA	6.500	03/01/38		1,985,636
6,035,096		FNMA	6.500	03/01/38		6,219,803
1,341,720		FNMA	7.000	03/01/38		1,407,942
2,118,594		FNMA	7.000	03/01/38		2,223,158
981,247		FNMA	7.000	03/01/38		1,029,678
6,423,982	h	FNMA	5.000	04/01/38		6,163,133
6,165,187	h	FNMA	5.000	04/01/38		5,914,847
4,602,712	h	FNMA	5.000	05/01/38		4,415,818
20,000,000		FNMA	6.500	08/25/38		20,531,240
480		Government National Mortgage Association
		(GNMA)	7.000	01/15/28		512
2,116		GNMA	7.000	02/15/28		2,256
2,141		GNMA	7.000	06/15/28		2,283
3,074		GNMA	7.000	06/15/28		3,278
60,696		GNMA	6.500	09/15/28		63,098
12,872		GNMA	6.500	09/15/28		13,381
38,589		GNMA	6.500	11/15/28		40,116

413

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      10,128		GNMA	7.500%	11/15/28		$	10,904
22,205		GNMA	7.500	07/15/29			23,896
2,451		GNMA	8.500	07/15/30			2,694
31,191		GNMA	8.500	10/15/30			34,281
37,884		GNMA	8.500	10/20/30			41,491
5,108		GNMA	8.500	12/15/30			5,615
8,324		GNMA	7.000	06/20/31			8,844
13,302		GNMA	6.500	07/15/31			13,816
32,194		GNMA	7.000	07/15/31			34,271
33,841		GNMA	7.000	07/15/31			36,024
30,392		GNMA	7.500	02/15/32			32,642
3,258		GNMA	6.500	03/15/33			3,381
2,214,442		GNMA	5.500	09/15/33			2,212,993
950,069		GNMA	5.500	02/20/35			945,149
6,868,975		GNMA	5.000	03/20/35			6,646,551
6,760,154		GNMA	5.500	05/20/35			6,725,143
2,814,138		GNMA	5.500	02/20/36			2,799,011
642,722	h	GNMA	6.000	10/20/36			652,564
643,315	h	GNMA	6.000	01/20/37			653,073
1,821,152	h	GNMA	6.000	12/15/37			1,851,457
16,000,000		GNMA	5.500	08/15/38			15,870,000
		TOTAL MORTGAGE BACKED SECURITIES					659,062,308
MUNICIPAL BONDS - 0.03%
670,000		Charlotte-Mecklenburg Hospital Authority	5.000	08/01/15	Aaa		662,978
		TOTAL MUNICIPAL BONDS					662,978
U.S. TREASURY SECURITIES - 16.89%
44,236,000	d	United States Treasury Bond	8.000	11/15/21			59,998,525
20,650,000	d	United States Treasury Bond	5.250	02/15/29			22,403,639
194,000		United States Treasury Bond	5.375	02/15/31			215,552
101,000		United States Treasury Bond	4.500	02/15/36			100,282
127,000		United States Treasury Bond	5.000	05/15/37			136,485
43,535,232		United States Treasury Inflation Indexed
		Bonds	0.875	04/15/10			44,286,911
16,035,491		United States Treasury Inflation Indexed
		Bonds	2.375	04/15/11			16,991,351
5,400,000		United States Treasury Note	3.125	09/15/08			5,414,342
13,180,000		United States Treasury Note	4.875	10/31/08			13,304,591
2,000,000		United States Treasury Note	4.000	08/31/09			2,037,656
380,000		United States Treasury Note	1.750	03/31/10			375,101
7,500,000		United States Treasury Note	2.625	05/31/10			7,504,687
26,394,000		United States Treasury Note	2.750	02/28/13			25,767,143
42,944,000		United States Treasury Note	2.500	03/31/13			41,430,911
44,055,000		United States Treasury Note	3.125	04/30/13			43,686,744
1,425,000		United States Treasury Note	3.500	05/31/13			1,435,576
2,120,000		United States Treasury Note	4.000	02/15/15			2,214,904
12,763,000		United States Treasury Note	4.750	08/15/17			13,520,803
7,817,000		United States Treasury Note	3.500	02/15/18			7,524,472
6,755,000		United States Treasury Note	3.875	05/15/18			6,698,535
22,000,000	j	United States Treasury Strip Principal		08/15/27			8,881,906
		TOTAL U.S. TREASURY SECURITIES					323,930,116

414

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
		TOTAL GOVERNMENT BONDS				$	1,240,646,210
		(Cost $1,239,641,388)
		TOTAL BONDS					1,604,867,139
		(Cost $1,612,640,235)
STRUCTURED ASSETS - 13.96%
ASSET BACKED - 8.87%
$      5,000,000		AmeriCredit Automobile Receivables Trust
		Series 2006-AF (Class A4)	5.640%	09/06/13	Aaa		5,035,693
5,000,000		AmeriCredit Automobile Receivables Trust
		Series 2007-BF (Class A3A)	5.160	04/06/12	Aaa		4,996,808
186,349	i	AQ Finance NIM Trust Series 2004-RN2	2.683	04/25/09	Aaa		170,657
124,444	i, m, v	AQ Finance NIM Trust Series 2004-RN3	2.663	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		6
2,500,000		Capital One Auto Finance Trust Series 2007-B
		(Class A3A)	5.030	04/15/12	A2		2,437,554
400,000		Centex Home Equity Series 2004-C (Class	5.980	06/25/34	Aaa		355,096
11,919,896		Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2003-6 (Class 1A7)	4.277	09/25/33	Aaa		10,327,670
789,805	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1B)	5.700	02/25/35	Baa2		376,259
789,805	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1M1)	5.700	02/25/35	Aa2		577,894
1,192,924		CIT Group Home Equity Loan Trust Series
		2002-1 (Class AF6)	6.200	02/25/30	Aaa		1,118,721
4,000,000		Citicorp Mortgage Securities, Inc Series 2006-1
		(Class A3)	5.706	07/25/36	Aaa		3,928,269
6,000,000	d	Citicorp Mortgage Securities, Inc Series 2006-2
		(Class A3)	5.563	09/25/36	Aaa		5,940,220
1,500,000		Countrywide Alternative Loan Trust Series
		2004-29CB (Class A7)	5.375	01/25/35	NR		1,429,538
2,126,798		Countrywide Alternative Loan Trust Series
		2004-30CB (Class 1A15)	5.500	08/25/16	Aaa		1,979,396
153,369	i	Countrywide Home Equity Loan Trust Series
		2004-B (Class 1A)	2.691	02/15/29	Baa3		81,392
1,694,716		Credit-Based Asset Servicing and
		Securitization LLC Series 2007-MX1 (Class	6.159	12/25/36	Aaa		1,694,174
7,000,000		Flagstar Home Equity Loan Trust Series 2007-1A
		(Class AF3)	5.781	01/25/35	A2		5,549,673
169,955	i	GMAC Mortgage Corporation Loan Trust
		2005-HE2 A3	4.622	11/25/35	Baa3		156,472
1,435,000		GMAC Mortgage Corporation Loan Trust
		2006-HLTV A3	5.590	10/25/29	Baa3		1,168,796
1,350,000		GMAC Mortgage Corporation Loan Trust
		2006-HLTV A4	5.810	10/25/29	Baa3		731,503
122,692	i	Golden Securities Corp Series 2003-A (Class	2.771	12/02/13	Aa3		122,624
3,000,000		Hertz Vehicle Financing LLC Series 2005-2A
		(Class A2)	4.930	02/25/10	Aa3		2,985,236
1,317,380		HFC Home Equity Loan Asset Backed
		Certificates Series 2006-4 (Class A1F)	5.790	03/20/36	Aaa		1,312,290

415

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      1,688,611		HFC Home Equity Loan Asset Backed
		Certificates Series 2007-1 (Class A1F)	5.910%	03/20/36	Aaa	$	1,691,951
5,000,000		HFC Home Equity Loan Asset Backed
		Certificates Series 2007-1 (Class A3F)	5.730	03/20/36	Aaa		4,611,096
15,000,000		Honda Auto Receivables Owner Trust Series
		2007-1 (Class A4)	5.090	07/18/13	NR		15,237,154
1,270,553		Household Automotive Trust Series 2006-2
		(Class A3)	5.610	08/17/11	Aaa		1,289,533
6,760,000		Household Credit Card Master Note Trust I
		Series 2006-1 (Class A)	5.100	06/15/12	Aaa		6,823,989
5,182,839		Hyundai Auto Receivables Trust Series 2006-A
		(Class A3)	5.130	06/15/10	Aaa		5,216,459
3,000,000		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A3)	5.190	02/15/11	Aaa		3,023,189
1,782,857		Marriott Vacation Club Owner Trust Series
		2006-1A (Class A)	5.737	04/20/28	Aaa		1,726,751
1,965,237		Marriott Vacation Club Owner Trust Series
		2007-1A (Class A)	5.518	05/20/29	Aaa		1,859,007
9,200,000		Nissan Auto Lease Trust Series 2006-A (Class	5.110	03/15/10	Aaa		9,283,973
3,800,000		Nissan Auto Lease Trust Series 2006-A (Class	5.100	07/16/12	Aaa		3,861,521
115,764		Peco Energy Transition Trust Series 1999-A
		(Class A7)	6.130	03/01/09	Aaa		116,348
87,322		Public Service New Hampshire Funding LLC
		Series 2001-1 (Class A2)	5.730	11/01/10	Aaa		87,781
8,000,000	i	Residential Asset Mortgage Products, Inc
		Series 2004-RS11 (Class M1)	3.103	11/25/34	Aa1		6,783,947
351,055	i	Residential Asset Securities Corp Series 2001-KS2
		(Class AI6)	6.489	10/25/30	Aaa		318,885
1,350,000		Residential Funding Mortgage Securities II,
		Inc Series 2006-H12 (Class A2)	5.750	02/25/36	Baa3		1,196,634
200,000		Residential Funding Mortgage Securities II,
		Inc Series 2006-HI1 (Class M2)	6.060	02/25/36	Aa2		107,630
2,020,000		Residential Funding Mortgage Securities II,
		Inc Series 2006-HI3 (Class A3)	5.960	02/25/36	Baa3		1,537,189
6,760,000		Residential Funding Mortgage Securities II,
		Inc Series 2006-HI4 (Class A3)	5.440	09/25/36	Baa3		4,372,335
1,400,000		Residential Funding Mortgage Securities II,
		Inc Series 2006-HI5 (Class A2)	5.520	04/25/21	Baa3		1,049,106
2,500,000		Residential Funding Mortgage Securities II,
		Inc Series 2006-HI5 (Class A3)	5.500	08/25/25	Baa3		1,318,668
652,608	m	Sierra Receivables Funding Co Series 2006-1A
		(Class A1)	5.840	05/20/18	A2		620,009
3,475,397	i	SLM Student Loan Trust	3.060	10/25/12	Aaa		3,460,955
3,000,000	i	SLM Student Loan Trust	3.364	10/27/14	Aaa		2,995,821
3,991,800	i	SLM Student Loan Trust	3.050	04/25/17	Aaa		3,965,903
6,493,696	m, v	Sonic Capital LLC Series 2006-1A (Class A2)	5.096	12/20/31	Aa3		5,915,352
4,694,035		Triad Auto Receivables Owner Trust Series
		2005-A (Class A4)	4.220	06/12/12	Aa3		4,520,745
540,137		Triad Auto Receivables Owner Trust Series
		2006-B (Class A3)	5.410	08/12/11	Aaa		540,630
5,860,431	d	Volkswagen Auto Lease Trust Series 2006-A
		(Class A3)	5.500	09/21/09	Aaa		5,896,518

416

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      10,000,000	d	Volkswagen Auto Lease Trust Series 2006-A
		(Class A4)	5.540%	04/20/11	Aaa	$	10,143,798
7,262,967		Wachovia Auto Loan Owner Trust Series
		2006-2A (Class A3)	5.230	08/22/11	Aaa		7,315,375
788,476	i	Wachovia Loan Trust Series 2005-SD1
		(Class A)	2.843	05/25/35	NR		743,204
		TOTAL ASSET BACKED					170,231,570
OTHER MORTGAGE BACKED SECURITIES - 5.09%
670,000	i	Banc of America Commercial Mortgage, Inc
		Series 2006-2 (Class A4)	5.929	05/10/45	NR		654,233
2,000,000		Banc of America Commercial Mortgage, Inc
		Series 2006-4 (Class A4)	5.634	07/10/46	Aaa		1,926,359
825,000		Banc of America Commercial Mortgage, Inc
		Series 2006-6 (Class AJ)	5.421	10/10/45	Aaa		663,383
2,250,000	i	Banc of America Commercial Mortgage, Inc
		Series 2007-2 (Class A2)	5.634	04/10/49	NR		2,208,718
1,492,225		Banc of America Mortgage Securities, Inc
		Series 2006-1 (Class A8)	6.000	05/25/36	Aaa		1,498,095
363,616		Bank of America Alternative Loan Trust
		Series 2004-8 (Class 3A1)	5.500	09/25/19	Aaa		354,300
2,000,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-PW14 (Class A4)	5.201	12/11/38	NR		1,865,558
1,000,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-T22 (Class A4)	5.631	04/12/38	Aaa		966,404
1,465,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-T24 (Class A4)	5.537	10/12/41	Aaa		1,401,732
1,963,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2007-PW16 (Class AJ)	5.902	06/11/40	Aaa		1,564,147
1,310,199	i	Bear Stearns Commercial Mortgage Securities
		Series 2007-PW17 (Class AM)	5.915	06/11/50	NR		1,199,486
1,305,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2007-T28 (Class AJ)	6.175	09/11/42	NR		1,052,172
2,020,000		Citigroup/Deutsche Bank Commercial
		Mortgage Trust Series 2006-CD3 (Class A5)	5.617	10/15/48	Aaa		1,941,053
1,356,958		Countrywide Home Loan Mortgage Pass
		Through Trust Series 2005-17 (Class 1A10)	5.250	09/25/35	NR		1,340,122
1,620,000		Credit Suisse Mortgage Capital Certificates
		Series 2006-C4 (Class A3)	5.467	09/15/39	Aaa		1,539,921
2,000,000		Credit Suisse Mortgage Capital Certificates
		Series 2006-C5 (Class A3)	5.311	12/15/39	Aaa		1,878,249
343,740	i	Credit Suisse Mortgage Capital Certificates
		Series 2006-TF2A (Class A1)	2.571	10/15/21	Aaa		329,414
1,965,000	i	Credit Suisse Mortgage Capital Certificates
		Series 2007-C1 (Class AJ)	5.457	02/15/40	Aaa		1,534,694
1,370,000	i	Credit Suisse Mortgage Capital Certificates
		Series 2007-C3 (Class AM)	5.913	06/15/39	Aaa		1,245,502
2,970,782	i	Credit Suisse/Morgan Stanley Commercial
		Mortgage Certificate Series HC1A (Class A1)	2.661	05/15/23	Aaa		2,810,390
989,200	i	GE Capital Commercial Mortgage Corp	5.512	11/10/45	Aaa		944,512
2,000,000		Greenwich Capital Commercial Funding Corp
		Series 2007-GG11 (Class A2)	5.597	12/10/49	NR		1,944,298

417

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      1,365,000		Greenwich Capital Commercial Funding Corp
		Series 2007-GG11 (Class A4)	5.736%	12/10/49	NR	$	1,290,302
1,380,000		GS Mortgage Securities Corp II Series 2006-
		GG8 (Class A2)	5.479	11/10/39	Aaa		1,368,485
1,350,000		GS Mortgage Securities Corp II Series 2006-
		GG8 (Class A4)	5.560	11/10/39	Aaa		1,292,399
2,000,000	i	GS Mortgage Securities Corp II Series 2007-
		GG10 (Class A2)	5.778	08/10/45	Aaa		1,973,891
2,040,000	i	GS Mortgage Securities Corp II Series 2007-
		GG10 (Class A4)	5.993	08/10/45	Aaa		1,950,662
1,000,000	i	GS Mortgage Securities Corp II Series 2007-
		GG10 (Class AM)	5.993	08/10/45	Aaa		915,960
849,839	i	GSAA Trust Series 2004-3 (Class AF3)	5.691	04/25/34	Aaa		851,200
1,490,000	i	JP Morgan Chase Commercial Mortgage
		Securities Corp Series 2003-CB6 (Class A2)	5.255	07/12/37	Aaa		1,472,887
1,600,000	i	JP Morgan Chase Commercial Mortgage
		Securities Corp Series 2006-FL1A (Class A2)	2.651	02/15/20	Aaa		1,480,779
1,500,000	i	JP Morgan Chase Commercial Mortgage
		Securities Corp Series 2006-LDP7 (Class A2)	6.051	04/15/45	Aaa		1,508,186
2,000,000		JP Morgan Chase Commercial Mortgage
		Securities Corp Series 2007-CB18 (Class A4)	5.440	06/12/47	Aaa		1,860,196
1,355,000	i	JP Morgan Chase Commercial Mortgage
		Securities Corp Series 2007-CB19 (Class AM)	5.937	02/12/49	Aaa		1,235,173
883,275	i	JP Morgan Chase Commercial Mortgage
		Securities Corp Series 2007-FL1A (Class A1)	2.846	07/15/19	Aaa		855,457
725,000	i	JP Morgan Chase Commercial Mortgage
		Securities Corp Series 2008-C2 (Class AM)	6.799	02/12/51	Aaa		696,935
6,760,000	d,i	LB-UBS Commercial Mortgage Trust Series
		2004-C7 (Class A6)	4.786	10/15/29	Aaa		6,405,499
1,965,000	i	LB-UBS Commercial Mortgage Trust Series
		2007-C2 (Class AJ)	5.562	02/15/40	NR		1,544,263
1,305,000	i	LB-UBS Commercial Mortgage Trust Series
		2008-C1 (Class A2)	6.317	04/15/41	Aaa		1,272,507
861,063	i	Merrill Lynch Mortgage Trust Series 2005-
		CIP1 (Class AM)	5.107	07/12/38	Aaa		809,449
700,000	i	Merrill Lynch Mortgage Trust Series 2006-C1
		(Class A4)	5.842	05/12/39	NR		681,079
1,500,000	i	Merrill Lynch Mortgage Trust Series 2007-C1
		(Class AJ)	6.023	06/12/50	NR		1,201,870
1,700,000	i	Merrill Lynch Mortgage Trust Series 2008-C1
		(Class AJ)	6.266	02/12/51	Aaa		1,423,949
1,050,000	i	Merrill Lynch Mortgage Trust Series 2008-C1
		(Class AM)	6.266	02/12/51	Aaa		990,036
775,000	g, i	Merrill Lynch Mortgage Trust Series 2008-C1
		(Class C)	6.266	02/12/51	NR		535,204
1,400,000	i	Merrill Lynch/Countrywide Commercial
		Mortgage Trust Series 2006-1 (Class A4)	5.603	02/12/39	NR		1,343,447
1,563,000		Merrill Lynch/Countrywide Commercial
		Mortgage Trust Series 2007-5 (Class A4)	5.378	08/12/48	Aaa		1,448,136
1,305,000	i	Merrill Lynch/Countrywide Commercial
		Mortgage Trust Series 2007-8 (Class AM)	6.156	08/12/49	NR		1,186,281
1,050,000	i	Merrill Lynch/Countrywide Commercial
		Mortgage Trust Series 2007-9 (Class AM)	5.856	09/12/49	NR		956,080

418

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      3,380,000		Morgan Stanley Capital I Series 2005-HQ5	4.809%	01/14/42	NR	$	3,375,282
670,000	i	Morgan Stanley Capital I Series 2006-HQ9	5.731	07/12/44	NR		649,571
300,000	i	Morgan Stanley Capital I Series 2006-IQ11	5.948	10/15/42	NR		250,129
2,200,000		Morgan Stanley Capital I Series 2006-IQ12
		(Class A2)	5.283	12/15/43	NR		2,164,472
2,000,000		Morgan Stanley Capital I Series 2007-HQ11
		(Class A31)	5.439	02/12/44	Aaa		1,914,962
1,740,000		Morgan Stanley Capital I Series 2007-IQ13
		(Class A4)	5.364	03/15/44	NR		1,608,617
1,200,000		Residential Accredit Loans, Inc Series 2005-
		QS17 (Class A1)	6.000	12/25/35	Aaa		1,002,430
540,000	i	Wachovia Bank Commercial Mortgage Trust
		Series 2006-C24 (Class A3)	5.558	03/15/45	Aaa		518,125
1,925,000	i	Wachovia Bank Commercial Mortgage Trust
		Series 2006-WL7A (Class A2)	2.591	09/15/21	Aaa		1,813,987
3,100,000	i	Wachovia Bank Commercial Mortgage Trust
		Series 2007-C30 (Class AJ)	5.413	12/15/43	Aaa		2,411,018
1,500,000		Wachovia Bank Commercial Mortgage Trust
		Series 2007-C31 (Class A2)	5.421	04/15/47	Aaa		1,461,504
5,269,673		Washington Mutual, Inc Series 2003-S10	4.500	10/25/18	NR		5,015,540
2,131,694		Wells Fargo Mortgage Backed Securities
		Trust Series 2005-1 (Class 2A1)	5.000	01/25/20	Aaa		2,042,430
2,367,257	i	Wells Fargo Mortgage Backed Securities
		Trust Series 2006-AR2 (Class 2A3)	5.106	03/25/36	NR		2,293,237
1,771,191	i	Wells Fargo Mortgage Backed Securities
		Trust Series 2006-AR4 (Class 1A1)	5.858	04/25/36	NR		1,629,075
		TOTAL OTHER MORTGAGE BACKED SECURITIES					97,563,433
		TOTAL STRUCTURED ASSETS					267,795,003
		(Cost $282,272,896)
SHARES		COMPANY
PREFERRED STOCKS - 0.02%
DEPOSITORY INSTITUTIONS - 0.02%
24,000	e	Bank of America Corp	6.204	12/30/49	A1		480,000
		TOTAL DEPOSITORY INSTITUTIONS					480,000
		TOTAL PREFERRED STOCKS					480,000
		(Cost $600,000)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 6.77%
CHEMICALS AND ALLIED PRODUCTS - 0.26%
$      5,000,000		Procter & Gamble International		08/12/08			4,984,562
		TOTAL CHEMICALS AND ALLIED PRODUCTS					4,984,562
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 4.82%
17,510,000		Federal Home Loan Bank (FHLB)		07/01/08			17,510,000
12,980,000		FHLB		07/02/08			12,979,221
19,430,000		FHLB		07/07/08			19,423,044
18,700,000		FHLB		07/09/08			18,691,061
10,110,000		FHLB		07/10/08			10,104,571

419

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Fund
			MATURITY
PRINCIPAL		ISSUER	DATE		VALUE
$      13,650,000		FHLB	07/14/08	$	13,639,408
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES			92,347,305
SHARES
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.69%
32,458,784		State Street Navigator Securities Lending Prime Portfolio			32,458,784
					32,458,784
		TOTAL SHORT-TERM INVESTMENTS			129,790,651
		(Cost $129,793,296)
		TOTAL PORTFOLIO - 104.42%			2,002,932,793
		(Cost $2,025,306,427)
		OTHER ASSETS & LIABILITIES, NET - (4.42)%			(84,865,447	)
		NET ASSETS - 100.00%		$	1,918,067,346
		The following abbreviations are used in portfolio descriptions:
		LLC  -Limited Liability Company
		LP     - Limited Partnership
		NR    -  Not rated by Moody's
		plc     -Public Limited Company
	+	As provided by Moody's Investors Service (unaudited).
	d	All or a portion of these securities have been segregated by the custodian to cover securities purchased
		on a delayed delivery basis.
	e	All or a portion of these securities are out on loan.
	g	Security is exempt from registration under Rule 144 (A) of the Securities Act of 1933 and may be resold in
		transactions exempt from registration to qualified institutional buyers.
		At June 30, 2008, the value of these securities amounted to $71,645,780 or 3.74% of net assets.
	h	These securities were purchased on a delayed delivery basis.
	i	Floating rate or variable rate securities reflects the rate at June 30, 2008.
	j	Zero coupon.
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.
		At June 30, 2008, the net unrealized depreciation on investments was $22,373,634,
		consisting of gross unrealized appreciation of $15,738,283 and gross unrealized depreciation of
		$38,111,917.

420

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
BOND PLUS FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
BONDS - 77.93%
CORPORATE BONDS - 26.99%
AMUSEMENT AND RECREATION SERVICES - 0.12%
$      350,000		Walt Disney Co	5.700%	07/15/11	A2	$	365,625
250,000		Walt Disney Co	4.700	12/01/12	A2		251,573
		TOTAL AMUSEMENT AND RECREATION SERVICES					617,198
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.08%
500,000		Autonation, Inc	7.000	04/15/14	Ba2		445,000
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS					445,000
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.16%
600,000		Home Depot, Inc	5.250	12/16/13	Baa1		575,466
275,000		Lowe's Cos, Inc	8.250	06/01/10	A1		294,606
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					870,072
BUSINESS SERVICES - 0.59%
250,000		Daimler Finance North America LLC	5.875	03/15/11	A3		253,216
250,000		Daimler Finance North America LLC	5.750	09/08/11	A3		254,936
500,000		Hanarotelecom, Inc	7.000	02/01/12	Baa3		497,575
630,000	e	Lamar Media Corp	7.250	01/01/13	Ba3		605,588
187,000		Lamar Media Corp	6.625	08/15/15	Ba3		170,170
250,000		Oracle Corp	4.950	04/15/13	A2		252,416
600,000		Sungard Data Systems, Inc	10.250	08/15/15	Caa1		603,000
500,000	g	VIP Finance Ireland Ltd for OJSC Vimpel
		Communications	8.375	04/30/13	Ba2		492,914
		TOTAL BUSINESS SERVICES					3,129,815
CHEMICALS AND ALLIED PRODUCTS - 0.86%
150,000		Abbott Laboratories	5.600	05/15/11	A1		156,859
350,000		Air Products & Chemicals, Inc	4.150	02/01/13	A2		342,284
200,000		Amgen, Inc	5.850	06/01/17	A3		196,993
350,000	e	Bristol-Myers Squibb Co	5.450	05/01/18	A2		345,264
150,000		Bristol-Myers Squibb Co	6.125	05/01/38	A2		145,493
500,000		Chemtura Corp	6.875	06/01/16	Ba2		432,500
120,000		Clorox Co	5.950	10/15/17	Baa2		120,157
500,000		GlaxoSmithKline Capital, Inc	5.650	05/15/18	A1		498,091
185,000		GlaxoSmithKline Capital, Inc	6.375	05/15/38	A1		183,637
310,000		Johnson & Johnson	5.150	08/15/12	Aaa		324,713
300,000		Johnson & Johnson	5.950	08/15/37	Aaa		311,446
550,000		Lubrizol Corp	4.625	10/01/09	Baa3		547,419
500,000		Nalco Co	7.750	11/15/11	B1		500,000
200,000		Praxair, Inc	5.250	11/15/14	A2		202,329
220,000		Schering-Plough Corp	6.550	09/15/37	Baa1		214,857
		TOTAL CHEMICALS AND ALLIED PRODUCTS					4,522,042

421

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
COAL MINING - 0.04%
$      250,000	g	Griffin Coal Mining Co Pty Ltd	9.500%	12/01/16	Ba3	$	198,750
		TOTAL COAL MINING					198,750
COMMUNICATIONS - 3.29%
1,900,000		Alamosa Delaware, Inc	8.500	01/31/12	Baa3		1,881,000
500,000		Allbritton Communications Co	7.750	12/15/12	B1		486,250
250,000		America Movil SAB de C.V.	6.125	11/15/37	A3		227,439
275,000		AT&T, Inc	6.150	09/15/34	A2		256,952
600,000		AT&T, Inc	6.500	09/01/37	A2		580,691
300,000		AT&T, Inc	6.300	01/15/38	A2		283,427
525,000		Comcast Cable Communications Holdings, Inc	8.375	03/15/13	Baa2		577,903
275,000		Comcast Corp	5.900	03/15/16	Baa2		268,699
475,000		Comcast Corp	5.875	02/15/18	Baa2		456,992
275,000		Comcast Corp	5.650	06/15/35	Baa2		233,677
550,000		Comcast Corp	6.500	11/15/35	Baa2		522,844
500,000		Comcast Corp	6.400	05/15/38	Baa2		461,237
150,000	g	DirecTV Holdings LLC	7.625	05/15/16	Ba3		147,750
500,000		Echostar DBS Corp	7.000	10/01/13	Ba3		476,250
625,000		France Telecom S.A.	7.750	03/01/11	A3		661,900
275,000		New Cingular Wireless Services, Inc	7.875	03/01/11	A2		292,780
275,000		New Cingular Wireless Services, Inc	8.750	03/01/31	A2		326,309
1,000,000		Qwest Communications International, Inc	7.250	02/15/11	Ba3		966,250
500,000		Qwest Corp	8.875	03/15/12	Ba1		510,000
550,000		Rogers Cable, Inc	6.750	03/15/15	Baa3		560,946
300,000		Rogers Wireless, Inc	8.000	12/15/12	Ba1		309,750
550,000		Rogers Wireless, Inc	7.500	03/15/15	Baa3		582,226
525,000		Sprint Capital Corp	8.375	03/15/12	Baa3		519,750
75,000		Telecom Italia Capital S.A.	4.950	09/30/14	Baa2		68,644
75,000		Telecom Italia Capital S.A.	6.999	06/04/18	Baa2		75,639
250,000		Telefonica Emisiones SAU	6.221	07/03/17	Baa1		249,881
500,000		Time Warner Cable, Inc	5.400	07/02/12	Baa2		494,950
1,000,000		Time Warner Cable, Inc	5.850	05/01/17	Baa2		949,801
300,000		Verizon Communications, Inc	5.250	04/15/13	A3		298,274
225,000		Verizon Communications, Inc	6.900	04/15/38	A3		222,361
2,200,000		Verizon New Jersey, Inc	5.875	01/17/12	A3		2,230,653
275,000		Verizon Virginia, Inc	4.625	03/15/13	Baa1		265,838
250,000		Viacom, Inc	5.750	04/30/11	Baa3		250,583
250,000		Viacom, Inc	6.125	10/05/17	Baa3		239,707
350,000		Viacom, Inc	6.875	04/30/36	Baa3		328,680
		TOTAL COMMUNICATIONS					17,266,033
DEPOSITORY INSTITUTIONS - 5.20%
1,100,000	g	BA Covered Bond Issuer	5.500	06/14/12	Aaa		1,141,360
3,000,000	g	Banco Bilbao Vizcaya Argentaria S.A.	5.750	07/20/17	Aaa		3,166,971
275,000		Bank of America Corp	6.250	04/15/12	Aa2		283,490
100,000		Bank of America Corp	4.900	05/01/13	Aa2		96,506
350,000		Bank of America Corp	5.650	05/01/18	Aa2		326,755
650,000		Bank of America NA	5.300	03/15/17	Aa1		596,667
550,000		Bank One Corp	5.250	01/30/13	Aa3		540,869
250,000	i	BB&T Capital Trust IV	6.820	06/12/57	A1		212,430
650,000		Citigroup, Inc	5.125	02/14/11	Aa3		647,527
300,000		Citigroup, Inc	5.100	09/29/11	Aa3		296,510

422

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      550,000		Citigroup, Inc	5.500%	04/11/13	Aa3	$	536,787
750,000		Citigroup, Inc	5.125	05/05/14	Aa3		716,210
525,000		Citigroup, Inc	6.875	03/05/38	Aa3		506,622
300,000		Credit Suisse	5.000	05/15/13	Aa1		291,950
2,700,000	g	Depfa ACS Bank	5.125	03/16/37	Aaa		2,564,541
250,000		Deutsche Bank AG.	4.875	05/20/13	Aa1		245,927
250,000	e	Golden West Financial Corp	4.750	10/01/12	Aa3		239,668
150,000		HSBC Holdings plc	6.500	09/15/37	Aa3		136,738
250,000	i	Huntington Capital III	6.650	05/15/37	Baa1		157,424
275,000	i	ING Groep NV	5.775	12/30/49	A1		228,244
550,000		JPMorgan Chase & Co	7.875	06/15/10	Aa3		575,616
275,000		JPMorgan Chase & Co	4.500	01/15/12	Aa2		267,081
1,250,000		JPMorgan Chase & Co	6.400	05/15/38	Aa2		1,159,420
550,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3		539,123
250,000	i	Manufacturers & Traders Trust Co	5.629	12/01/21	A2		224,385
1,100,000		Mellon Funding Corp	6.400	05/14/11	Aa3		1,138,706
400,000		National City Corp	4.000	02/01/11	A3		323,500
1,450,000	g	Nationwide Building Society	5.500	07/18/12	Aaa		1,471,646
250,000		Popular North America, Inc	5.650	04/15/09	A3		247,581
275,000	g, i	Rabobank Capital Funding Trust	5.254	12/30/49	Aa2		236,166
550,000		Regions Financial Corp	6.375	05/15/12	A3		541,938
350,000	g, i	Royal Bank of Scotland Group plc	6.990	12/30/49	A1		315,010
100,000		Union Bank of California NA	5.950	05/11/16	A1		94,860
550,000		US Bank NA	5.700	12/15/08	Aa2		555,578
500,000	e,g	VTB Capital S.A.	6.875	05/29/18	A2		487,500
375,000		Wachovia Bank NA	4.800	11/01/14	Aa2		339,589
350,000		Wachovia Bank NA	5.850	02/01/37	Aa2		278,606
250,000		Wachovia Bank NA	6.600	01/15/38	Aa2		217,848
75,000		Wachovia Corp	5.300	10/15/11	Aa3		73,334
650,000		Wachovia Corp	5.500	05/01/13	Aa3		622,116
350,000	i	Wachovia Corp	7.980	12/30/49	A2		321,440
100,000		Washington Mutual, Inc	5.500	08/24/11	Baa3		87,000
2,000,000		Wells Fargo & Co	5.300	08/26/11	Aa1		2,034,734
475,000		Wells Fargo & Co	4.375	01/31/13	Aa1		459,946
1,850,000		Wells Fargo Bank NA	4.750	02/09/15	Aa1		1,764,595
		TOTAL DEPOSITORY INSTITUTIONS					27,310,514
EATING AND DRINKING PLACES - 0.04%
200,000		McDonald's Corp	5.350	03/01/18	A3		195,127
		TOTAL EATING AND DRINKING PLACES					195,127
ELECTRIC, GAS, AND SANITARY SERVICES - 2.49%
325,000		American Water Capital Corp	6.085	10/15/17	Baa2		311,741
190,000		Carolina Power & Light Co	5.125	09/15/13	A2		191,182
275,000		Carolina Power & Light Co	5.700	04/01/35	A2		256,346
550,000		CenterPoint Energy Resources Corp	7.875	04/01/13	Baa3		588,777
300,000		CenterPoint Energy Resources Corp	6.250	02/01/37	Baa3		266,197
550,000		Centerpoint Energy, Inc	6.500	05/01/18	Ba1		537,170
200,000		Commonweatlh Edison Co	5.900	03/15/36	Baa2		180,569
825,000		Consolidated Natural Gas Co	6.250	11/01/11	Baa2		851,441
275,000		Consolidated Natural Gas Co	5.000	12/01/14	Baa2		262,242
525,000		Consumers Energy Co	4.400	08/15/09	Baa1		525,431
400,000		Exelon Generation Co LLC	6.200	10/01/17	A3		389,600

423

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      550,000		Florida Power Corp	4.500%	06/01/10	A2	$	555,600
400,000	g	Israel Electric Corp Ltd	7.250	01/15/19	Baa2		408,305
200,000	g	Korea Southern Power Co Ltd	5.375	04/18/13	A1		196,830
300,000		Midamerican Energy Co	5.800	10/15/36	A2		279,047
417,400		Midwest Generation LLC	8.560	01/02/16	Baa3		430,966
250,000		National Fuel Gas Co	5.250	03/01/13	Baa1		242,026
550,000		National Rural Utilities Cooperative Finance Corp	5.750	08/28/09	A2		560,943
250,000	e	Nevada Power Co	6.650	04/01/36	Baa3		241,300
250,000		Nevada Power Co	6.750	07/01/37	Baa3		244,314
250,000		Northern States Power Co	6.250	06/01/36	A2		255,557
500,000		NRG Energy, Inc	7.250	02/01/14	B1		477,500
50,000		ONEOK Partners LP	5.900	04/01/12	Baa2		50,268
1,100,000		Pacific Gas & Electric Co	4.200	03/01/11	A3		1,090,775
500,000	e	Public Service Co of Colorado	4.875	03/01/13	A3		501,808
275,000		Public Service Co of Colorado	5.500	04/01/14	A3		279,737
250,000		Puget Sound Energy, Inc	6.274	03/15/37	Baa2		233,974
500,000		Sabine Pass LNG LP	7.500	11/30/16	B2		450,000
300,000		Sempra Energy	6.150	06/15/18	Baa1		297,177
600,000		Texas Eastern Transmission LP	7.300	12/01/10	A3		640,532
175,000		Veolia Environnement	5.250	06/03/13	A3		174,839
275,000		Virginia Electric and Power Co	4.750	03/01/13	Baa1		270,631
300,000		Waste Management, Inc	6.100	03/15/18	Baa3		299,311
550,000		Westar Energy, Inc	6.000	07/01/14	Baa2		557,498
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					13,099,634
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.10%
275,000		Cisco Systems, Inc	5.500	02/22/16	A1		277,449
250,000		General Electric Co	5.250	12/06/17	Aaa		240,333
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					517,782
FABRICATED METAL PRODUCTS - 0.09%
500,000		Crown Americas LLC	7.625	11/15/13	B1		498,750
		TOTAL FABRICATED METAL PRODUCTS					498,750
FOOD AND KINDRED PRODUCTS - 0.80%
300,000		Archer-Daniels-Midland Co	5.450	03/15/18	A2		292,693
275,000		Bottling Group LLC	4.625	11/15/12	Aa2		278,074
250,000		Bunge Ltd Finance Corp	5.875	05/15/13	Baa2		245,791
250,000		Bunge Ltd Finance Corp	5.100	07/15/15	Baa2		227,373
40,000		Cott Beverages USA, Inc	8.000	12/15/11	B3		33,600
313,000	e	Diageo Capital plc	5.125	01/30/12	A3		315,729
220,000		Diageo Finance BV	3.875	04/01/11	A3		216,081
325,000	g	Dr. Pepper Snapple Group, Inc	6.820	05/01/18	Baa3		326,341
100,000	g	Dr. Pepper Snapple Group, Inc	7.450	05/01/38	Baa3		104,940
350,000		Kraft Foods, Inc	6.000	02/11/13	Baa2		353,613
80,000		Kraft Foods, Inc	6.125	02/01/18	Baa2		77,766
350,000		Kraft Foods, Inc	6.125	08/23/18	Baa2		338,947
550,000		Kraft Foods, Inc	6.500	11/01/31	Baa2		509,055
500,000	g	Miller Brewing Co	4.250	08/15/08	Baa1		500,682
100,000		PepsiCo, Inc	5.000	06/01/18	Aa2		97,566
275,000		WM Wrigley Jr Co	4.650	07/15/15	A1		266,400
		TOTAL FOOD AND KINDRED PRODUCTS					4,184,651

424

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
FOOD STORES - 0.58%
$      250,000		Delhaize Group	6.500%	06/15/17	Baa3	$	252,180
550,000	d	Kroger Co	6.800	04/01/11	Baa2		573,530
500,000		Kroger Co	6.400	08/15/17	Baa2		509,975
275,000		Safeway, Inc	4.950	08/16/10	Baa2		276,779
400,000		Safeway, Inc	6.350	08/15/17	Baa2		411,668
500,000		Stater Brothers Holdings	8.125	06/15/12	B2		502,500
500,000	g	Susser Holdings LLC	10.625	12/15/13	B3		513,750
		TOTAL FOOD STORES					3,040,382
GENERAL BUILDING CONTRACTORS - 0.10%
500,000	e	DR Horton, Inc	9.750	09/15/10	Ba1		512,500
		TOTAL GENERAL BUILDING CONTRACTORS					512,500
GENERAL MERCHANDISE STORES - 0.22%
500,000		JC Penney Corp, Inc	5.750	02/15/18	Baa3		446,110
225,000		Target Corp	6.000	01/15/18	A2		225,803
475,000		Wal-Mart Stores, Inc	6.200	04/15/38	Aa2		466,713
		TOTAL GENERAL MERCHANDISE STORES					1,138,626
HEALTH SERVICES - 0.19%
500,000	e,g	DASA Finance Corp	8.750	05/29/18	NR		503,125
500,000		Quest Diagnostics, Inc	6.400	07/01/17	Baa3		495,292
		TOTAL HEALTH SERVICES					998,417
HOLDING AND OTHER INVESTMENT OFFICES - 0.37%
120,000		BHP Billiton Finance Ltd	5.400	03/29/17	A1		114,540
275,000		Colonial Realty LP	6.250	06/15/14	Baa3		256,422
275,000		iStar Financial, Inc	5.700	03/01/14	Baa2		231,000
500,000		iStar Financial, Inc	5.850	03/15/17	Baa2		395,625
400,000	g	Odebrecht Finance Ltd	7.500	10/18/17	NR		412,000
550,000		Simon Property Group LP	5.600	09/01/11	A3		543,940
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					1,953,527
HOTELS AND OTHER LODGING PLACES - 0.05%
250,000		MGM Mirage	6.000	10/01/09	Ba2		245,938
		TOTAL HOTELS AND OTHER LODGING PLACES					245,938
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.36%
550,000		Caterpillar Financial Services Corp	2.700	07/15/08	A2		549,890
500,000		Caterpillar, Inc	6.050	08/15/36	A2		496,615
250,000		Hewlett-Packard Co	5.250	03/01/12	A2		256,126
600,000		Hewlett-Packard Co	5.400	03/01/17	A2		588,582
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					1,891,213
INSTRUMENTS AND RELATED PRODUCTS - 0.23%
275,000		Medtronic, Inc	4.750	09/15/15	A1		266,894
125,000		Northrop Grumman Corp	7.750	02/15/31	Baa1		147,167
275,000		Thermo Fisher Scientific, Inc	5.000	06/01/15	Baa2		258,496
500,000		Xerox Corp	7.625	06/15/13	Baa2		519,204
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					1,191,761

425

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
INSURANCE CARRIERS - 0.97%
$      460,000		Aetna, Inc	6.625%	06/15/36	A3	$	441,720
100,000		Aetna, Inc	6.750	12/15/37	A3		94,712
275,000		Allstate Corp	5.000	08/15/14	A1		271,058
550,000		American International Group, Inc	5.050	10/01/15	Aa3		498,342
400,000		Chubb Corp	6.000	05/11/37	A2		363,937
600,000	i	Chubb Corp	6.375	03/29/67	A3		548,847
275,000	g	Liberty Mutual Group, Inc	6.500	03/15/35	Baa2		216,545
250,000	g	Mantis Reef Ltd	4.799	11/03/09	A3		244,259
550,000		Metlife, Inc	5.000	06/15/15	A2		534,338
275,000		Metlife, Inc	5.700	06/15/35	A2		242,482
500,000	g	Pricoa Global Funding I	3.900	12/15/08	Aa3		497,660
600,000	g	Principal Life Global Funding I	5.125	10/15/13	Aa2		591,708
300,000	g	Prudential Funding LLC	6.750	09/15/23	A1		291,989
275,000		WellPoint, Inc	5.850	01/15/36	Baa1		236,311
		TOTAL INSURANCE CARRIERS					5,073,908
METAL MINING - 0.25%
150,000		Barrick Gold Finance Co	4.875	11/15/14	Baa1		142,918
275,000	g	Corp Nacional del Cobre de Chile - CODELCO	4.750	10/15/14	Aa3		264,456
255,000		Freeport-McMoRan Copper & Gold, Inc	8.375	04/01/17	Ba2		269,025
150,000		Vale Overseas Ltd	6.250	01/11/16	Baa3		146,507
500,000	g,h	Vedanta Resources plc	8.750	01/15/14	Ba1		504,523
		TOTAL METAL MINING					1,327,429
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.10%
500,000		Harsco Corp	5.125	09/15/13	A3		510,812
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES					510,812
MOTION PICTURES - 0.31%
275,000		Historic TW, Inc	6.625	05/15/29	Baa2		250,243
1,375,000		Time Warner, Inc	6.875	05/01/12	Baa2		1,406,694
		TOTAL MOTION PICTURES					1,656,937
NONDEPOSITORY INSTITUTIONS - 2.40%
550,000	g	American Honda Finance Corp	5.125	12/15/10	Aa3		566,635
550,000		Capital One Financial Corp	5.700	09/15/11	A3		523,130
350,000		CIT Group Funding Co of Canada	5.200	06/01/15	Baa1		241,075
600,000		CIT Group, Inc	5.850	09/15/16	Baa1		413,982
300,000	e	Countrywide Financial Corp	6.250	05/15/16	Aa3		267,103
375,000		General Electric Capital Corp	6.000	06/15/12	Aaa		387,520
2,700,000		General Electric Capital Corp	5.500	06/04/14	Aaa		2,755,566
125,000		General Electric Capital Corp	5.625	05/01/18	Aaa		120,882
500,000		General Motors Acceptance Corp LLC	6.625	05/15/12	B3		343,009
275,000	g, i	HSBC Capital Funding LP	4.610	12/30/49	A1		242,451
650,000		HSBC Finance Corp	5.250	01/14/11	Aa3		651,563
800,000		HSBC Finance Corp	5.900	06/19/12	Aa3		803,194
2,500,000		HSBC Finance Corp	4.750	07/15/13	Aa3		2,387,845
500,000		International Lease Finance Corp	5.450	03/24/11	A1		469,873
250,000		International Lease Finance Corp	5.750	06/15/11	A1		232,782
250,000		International Lease Finance Corp	6.625	11/15/13	A1		224,623
250,000		International Lease Finance Corp	5.650	06/01/14	A1		217,169
1,000,000		Kreditanstalt fuer Wiederaufbau	4.500	07/16/18	Aaa		992,175
200,000	g	Lender Processing Services, Inc	8.125	07/01/16	Ba2		200,250

426

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      275,000		MBNA Corp	6.125%	03/01/13	Aa2	$	282,715
275,000		Toyota Motor Credit Corp	2.875	08/01/08	Aaa		274,933
		TOTAL NONDEPOSITORY INSTITUTIONS					12,598,475
NONMETALLIC MINERALS, EXCEPT FUELS - 0.03%
150,000		Vulcan Materials Co	6.300	06/15/13	A3		151,972
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS					151,972
OIL AND GAS EXTRACTION - 2.16%
500,000	g	Atlas Energy Resources LLC	10.750	02/01/18	B3		520,000
250,000		Baker Hughes, Inc	6.875	01/15/29	A2		272,197
300,000		BJ Services Co	5.750	06/01/11	Baa1		303,173
550,000		Burlington Resources Finance Co	6.400	08/15/11	A2		581,071
275,000		Burlington Resources Finance Co	7.200	08/15/31	A2		311,829
250,000		Canadian Natural Resources Ltd	5.150	02/01/13	Baa2		250,433
1,100,000		Chesapeake Energy Corp	6.500	08/15/17	Ba3		1,028,500
625,000	e	ConocoPhillips Canada Funding Co	5.300	04/15/12	A1		642,534
250,000		Equitable Resources, Inc	5.150	11/15/12	Baa1		244,393
500,000		Husky Energy, Inc	6.250	06/15/12	Baa2		515,168
375,000		Husky Energy, Inc	6.800	09/15/37	Baa2		371,519
500,000	g	KazMunaiGaz Finance Sub BV	8.375	07/02/13	Baa1		498,375
275,000		Nexen, Inc	5.050	11/20/13	Baa2		268,712
500,000		Nexen, Inc	5.650	05/15/17	Baa2		486,122
550,000		Nexen, Inc	6.400	05/15/37	Baa2		520,760
1,000,000	g	Pemex Projec Funding Master Trust	5.750	03/01/18	Baa1		987,500
2,000,000	g	Pemex Projec Funding Master Trust	6.625	06/15/38	Baa1		2,047,591
100,000		Range Resources Corp	7.250	05/01/18	Ba3		99,250
750,000		Weatherford International, Inc	5.950	06/15/12	Baa1		764,819
600,000	e	XTO Energy, Inc	6.250	04/15/13	Baa2		617,878
		TOTAL OIL AND GAS EXTRACTION					11,331,824
PAPER AND ALLIED PRODUCTS - 0.42%
600,000	e	Cenveo Corp	7.875	12/01/13	B3		501,000
500,000		Graphic Packaging International, Inc	8.500	08/15/11	B3		483,750
350,000		International Paper Co	7.400	06/15/14	Baa3		349,325
350,000		Kimberly-Clark Corp	6.625	08/01/37	A2		374,851
500,000	g	Nine Dragons Paper Holdings Ltd	7.875	04/29/13	NR		490,907
		TOTAL PAPER AND ALLIED PRODUCTS					2,199,833
PETROLEUM AND COAL PRODUCTS - 0.14%
500,000		Marathon Oil Corp	6.600	10/01/37	Baa1		492,925
250,000		Valero Energy Corp	6.625	06/15/37	Baa3		229,212
		TOTAL PETROLEUM AND COAL PRODUCTS					722,137
PIPELINES, EXCEPT NATURAL GAS - 0.59%
250,000		Enbridge Energy Partners LP	4.000	01/15/09	Baa2		248,735
550,000		Enterprise Products Operating LP	4.950	06/01/10	Baa3		549,881
275,000		Enterprise Products Operating LP	5.600	10/15/14	Baa3		269,389
550,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		549,866
550,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		548,764
275,000		TransCanada Pipelines Ltd	4.000	06/15/13	A3		258,624
500,000		TransCanada Pipelines Ltd	5.850	03/15/36	A3		443,136

427

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      250,000	i	TransCanada Pipelines Ltd	6.350%	05/15/67	Baa1	$	215,867
		TOTAL PIPELINES, EXCEPT NATURAL GAS					3,084,262
PRIMARY METAL INDUSTRIES - 0.27%
475,000	g	ArcelorMittal	5.375	06/01/13	Baa2		467,724
500,000	g	Everaz Group SA.	8.875	04/24/13	Ba3		500,600
250,000	g	GTL Trade Finance, Inc	7.250	10/20/17	NR		251,167
210,000	g	Xstrata Finance Canada Ltd	5.500	11/16/11	Baa2		207,728
		TOTAL PRIMARY METAL INDUSTRIES					1,427,219
PRINTING AND PUBLISHING - 0.43%
600,000		Idearc, Inc	8.000	11/15/16	B3		377,250
732,000		Morris Publishing Group LLC	7.000	08/01/13	Caa1		446,520
250,000		News America, Inc	7.625	11/30/28	Baa1		265,718
250,000		News America, Inc	6.150	03/01/37	Baa1		230,178
400,000		Thomson Corp	5.950	07/15/13	Baa1		401,608
550,000		Thomson Corp	5.700	10/01/14	Baa1		541,508
		TOTAL PRINTING AND PUBLISHING					2,262,782
RAILROAD TRANSPORTATION - 0.41%
275,000		Burlington Northern Santa Fe Corp	6.750	07/15/11	Baa1		288,399
150,000		Burlington Northern Santa Fe Corp	6.150	05/01/37	Baa1		141,329
550,000		Canadian National Railway Co	4.400	03/15/13	A3		535,485
150,000	e	Canadian Pacific Railway Co	5.750	05/15/13	Baa3		149,135
175,000	g	Norfolk Southern Corp	5.750	04/01/18	Baa1		172,233
300,000		Norfolk Southern Corp	5.590	05/17/25	Baa1		271,187
550,000		Union Pacific Corp	6.500	04/15/12	Baa2		574,949
		TOTAL RAILROAD TRANSPORTATION					2,132,717
SECURITY AND COMMODITY BROKERS - 1.70%
275,000		Bear Stearns Cos, Inc	5.700	11/15/14	Aa2		265,765
250,000		Bear Stearns Cos, Inc	7.250	02/01/18	Aa2		260,891
750,000		Eaton Vance Corp	6.500	10/02/17	A3		756,612
500,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		347,680
600,000		Goldman Sachs Group, Inc	5.700	09/01/12	Aa3		601,882
275,000		Goldman Sachs Group, Inc	5.150	01/15/14	Aa3		266,192
275,000		Goldman Sachs Group, Inc	5.950	01/18/18	Aa3		263,988
350,000		Goldman Sachs Group, Inc	6.150	04/01/18	Aa3		339,556
150,000		Goldman Sachs Group, Inc	6.450	05/01/36	A1		133,755
375,000		Goldman Sachs Group, Inc	6.750	10/01/37	A1		343,030
500,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3		326,250
600,000		Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		567,800
1,025,000		Lehman Brothers Holdings, Inc	6.875	05/02/18	A1		992,308
250,000	i	Lehman Brothers Holdings, Inc	6.000	05/03/32	A2		191,135
500,000		Lehman Brothers Holdings, Inc	7.500	05/11/38	A2		463,785
250,000		Merrill Lynch & Co, Inc	5.450	02/05/13	A1		235,801
775,000		Merrill Lynch & Co, Inc	6.875	04/25/18	A1		737,588
500,000		Morgan Stanley	5.375	10/15/15	Aa3		457,455
900,000		Morgan Stanley	5.750	10/18/16	Aa3		831,934
600,000	g	Nuveen Investments, Inc	10.500	11/15/15	B3		553,500
		TOTAL SECURITY AND COMMODITY BROKERS					8,936,907
TOBACCO PRODUCTS - 0.06%
200,000		Philip Morris Interanational, Inc	4.875	05/16/13	A2		196,465

428

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      100,000		Philip Morris Interanational, Inc	6.375%	05/16/38	A2	$	97,453
		TOTAL TOBACCO PRODUCTS					293,918
TRANSPORTATION BY AIR - 0.10%
550,000		FedEx Corp	3.500	04/01/09	Baa2		548,134
		TOTAL TRANSPORTATION BY AIR					548,134
TRANSPORTATION EQUIPMENT - 0.51%
350,000	g	BAE Systems Holdings, Inc	6.400	12/15/11	Baa2		359,867
500,000	g	Bombardier, Inc	6.750	05/01/12	Ba2		488,750
550,000		Lockheed Martin Corp	6.150	09/01/36	Baa1		544,136
1,100,000	e	United Technologies Corp	6.350	03/01/11	A2		1,157,467
150,000	e	United Technologies Corp	6.050	06/01/36	A2		148,609
		TOTAL TRANSPORTATION EQUIPMENT					2,698,829
WHOLESALE TRADE-DURABLE GOODS - 0.14%
250,000	g	Ace Hardware Corp	9.125	06/01/16	Ba2		233,750
500,000		Vale Overseas Ltd	6.250	01/23/17	Baa3		483,988
		TOTAL WHOLESALE TRADE-DURABLE GOODS					717,738
WHOLESALE TRADE-NONDURABLE GOODS - 0.04%
250,000		Procter & Gamble Co	5.550	03/05/37	Aa3		240,282
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					240,282
		TOTAL CORPORATE BONDS					141,743,847
		(Cost $145,528,519)
GOVERNMENT BONDS - 50.94%
AGENCY SECURITIES - 4.53%
1,859,976		Cal Dive I- Title XI, Inc	4.930	02/01/27	NR		1,911,163
500,000		Egypt Government AID Bonds	4.450	09/15/15	Aaa		504,265
650,000		Federal Farm Credit Bank (FFCB)	2.625	04/21/11	Aaa		634,395
3,000,000		Federal Home Loan Bank (FHLB)	5.000	10/16/09	Aaa		3,018,189
5,000,000		Federal Home Loan Mortgage Corp (FHLMC)	3.750	06/28/13	Aaa		4,908,380
200,000		FHLMC	5.750	06/27/16	Aa2		202,447
700,000		FHLMC	5.125	11/17/17	Aaa		719,154
600,000		Federal National Mortgage Association (FNMA)	2.375	05/20/10	Aaa		591,397
2,000,000		FNMA	5.375	06/12/17	Aaa		2,090,714
2,000,000		FNMA	5.625	07/15/37	Aaa		2,126,596
2,000,000		Private Export Funding Corp	3.550	04/15/13	Aaa		1,937,108
5,000,000		US Department of Housing and Urban
		Development	4.790	08/01/11	NR		5,165,215
		TOTAL AGENCY SECURITIES					23,809,023
FOREIGN GOVERNMENT BONDS - 3.08%
500,000		African Development Bank	3.250	08/01/08	Aaa		499,700
275,000		Chile Government International Bond	5.500	01/15/13	A2		284,653
500,000	e	China Development Bank	5.000	10/15/15	A1		488,693
250,000		Development Bank of Japan	4.250	06/09/15	Aaa		249,875
350,000		Eksportfinans A/S	5.000	02/14/12	Aaa		360,632
500,000	g	Emirate of Abu Dhabi	5.500	08/02/12	Aa2		511,204
275,000	e	European Investment Bank	4.875	02/15/36	Aaa		270,556
500,000		Federal Republic of Germany	3.875	06/01/10	Aaa		502,450

429

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      2,000,000	e	Federative Republic of Brazil	6.000%	01/17/17	Ba1	$	2,039,000
750,000		Federative Republic of Brazil	8.000	01/15/18	Ba1		832,875
250,000		Hellenic Republic	4.625	06/25/13	NR		249,845
500,000		International Finance Corp	5.125	05/02/11	Aaa		524,881
400,000		Israel Government International Bond	5.500	11/09/16	A1		409,976
225,000	e	Italy Government International Bond	5.375	06/12/17	NR		238,031
1,100,000		Italy Government International Bond	6.875	09/27/23	Aa2		1,324,160
500,000		Jamaica Government International Bond	8.000	06/24/19	NR		455,000
275,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		280,256
300,000	e	Kreditanstalt fuer Wiederaufbau	4.875	01/17/17	Aaa		310,522
500,000		Landwirtschaftliche Rentenbank	5.250	07/02/12	Aaa		526,348
173,000		Mexico Government International Bond	6.375	01/16/13	Baa1		182,083
979,000		Mexico Government International Bond	5.875	01/15/14	Baa1		1,018,160
300,000		Mexico Government International Bond	6.750	09/27/34	Baa1		318,300
300,000		Mexico Government International Bond	6.050	01/11/40	Baa1		288,450
50,000		Oesterreichische Kontrollbank AG.	5.000	04/25/17	Aaa		51,880
250,000		Panama Government International Bond	7.250	03/15/15	Ba1		268,750
500,000	e	Province of Manitoba Canada	4.450	04/12/10	Aa1		509,205
600,000	e	Province of Manitoba Canada	5.000	02/15/12	Aa1		625,204
600,000		Province of Ontario	3.375	05/20/11	Aa1		595,025
620,000	e	Province of Quebec Canada	4.625	05/14/18	Aa2		608,275
550,000		Province of Saskatchewan Canada	8.000	02/01/13	Aa1		638,278
250,000		Republic of Ghana	8.500	10/04/17	NR		255,000
125,000	g	Socialist Republic of Vietnam	6.875	01/15/16	Ba3		118,750
375,000		Socialist Republic of Vietnam	6.875	01/15/16	Ba3		360,368
		TOTAL FOREIGN GOVERNMENT BONDS					16,196,385
MORTGAGE BACKED SECURITIES - 36.58%
1,939,492		Federal Home Loan Mortgage Corp (FHLMC)	6.000	09/15/16			2,003,138
1,500,000		FHLMC	4.000	09/15/19			1,410,984
819,332		FHLMC	4.500	09/15/35			803,124
983,351	i	FHLMC	5.060	02/01/36			993,058
2,839,043	i	FHLMC	5.798	07/01/36			2,894,644
754,879	i	FHLMC	5.005	09/01/36			756,867
1,362,889	i	FHLMC	6.106	09/01/36			1,395,141
893,492	i	FHLMC	5.737	02/01/37			907,425
1,527,708	i	FHLMC	5.708	03/01/37			1,545,100
222,821	i	FHLMC	5.878	04/01/37			226,670
381,179	i	FHLMC	6.079	05/01/37			387,845
6,990,875	i	FHLMC	5.721	06/01/37			7,100,360
1,214,541	i	FHLMC	5.874	08/01/37			1,235,684
30,759		Federal Home Loan Mortgage Corp Gold
		(FGLMC)	7.000	09/01/10			31,859
103,554		FGLMC	6.500	12/01/16			108,426
1,124,679		FGLMC	5.500	01/01/19			1,139,980
1,829,052		FGLMC	4.500	07/01/20			1,778,982
693,620		FGLMC	4.500	09/01/20			674,632
656,332		FGLMC	5.000	10/01/20			651,519
1,448,653	d	FGLMC	5.500	10/01/20			1,463,834
78,582		FGLMC	7.000	10/01/20			83,036
560,176		FGLMC	4.500	06/01/21			544,841
1,318,501		FGLMC	5.500	08/01/21			1,328,198
256,376		FGLMC	6.500	01/01/29			267,028

430

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$      12,327		FGLMC	8.000%	01/01/31	$	13,353
3,743,954		FGLMC	5.500	12/01/33		3,711,780
3,331,022		FGLMC	7.000	12/01/33		3,520,888
2,150,107		FGLMC	5.000	01/01/34		2,073,552
1,012,191		FGLMC	4.500	10/01/34		943,572
731,299		FGLMC	5.500	12/01/34		723,187
1,645,295		FGLMC	5.500	03/01/35		1,625,501
2,185,115		FGLMC	6.000	05/01/35		2,212,387
908,179		FGLMC	7.000	05/01/35		959,946
2,554,525		FGLMC	5.500	06/01/35		2,523,791
1,250,853		FGLMC	5.500	06/01/35		1,235,804
787,635		FGLMC	5.000	11/01/35		757,376
837,354		FGLMC	7.000	01/01/36		882,310
816,199		FGLMC	5.500	04/01/36		805,359
149,475		FGLMC	6.500	05/01/36		154,284
740,377		FGLMC	6.500	10/01/36		764,194
337,788		FGLMC	6.500	12/01/36		346,015
935,030		FGLMC	5.500	01/01/37		922,612
1,764,044		FGLMC	5.500	04/01/37		1,739,514
2,503,932		FGLMC	5.500	05/01/37		2,469,112
146,317		FGLMC	6.000	09/01/37		147,961
3,000,000		FGLMC	5.000	12/01/37		2,877,246
766,586		FGLMC	5.000	04/01/38		735,220
924,307		FGLMC	6.500	05/01/38		953,752
2,000,000	h	FGLMC	5.500	07/01/38		1,972,188
516,921		Federal National Mortgage Association (FNMA)	6.261	12/01/08		519,915
53,367		FNMA	5.000	06/01/13		53,671
2,252,157		FNMA	4.777	02/01/14		2,222,425
2,844,205		FNMA	4.640	11/01/14		2,766,557
419,727		FNMA	4.557	01/01/15		408,397
217,498		FNMA	6.500	10/01/16		226,964
89,614		FNMA	6.500	11/01/16		93,514
144,263		FNMA	6.500	02/01/18		150,271
389,487		FNMA	5.500	04/01/18		395,621
144,782		FNMA	5.500	05/01/18		146,908
176,505		FNMA	6.000	01/01/19		180,680
1,000,000		FNMA	4.000	02/25/19		930,323
1,316,576		FNMA	4.500	04/01/19		1,284,238
474,825		FNMA	5.000	03/01/20		474,227
155,551		FNMA	4.500	12/01/20		151,342
2,000,000	h	FNMA	5.000	02/25/21		1,977,500
694,744		FNMA	5.000	03/01/21		693,869
40,117		FNMA	8.000	03/01/23		43,526
682,645		FNMA	5.500	02/01/24		682,202
1,567,732		FNMA	5.500	07/01/24		1,565,671
3,702,879		FNMA	5.000	10/01/25		3,606,038
22,675		FNMA	9.000	11/01/25		25,052
22,272		FNMA	7.500	01/01/29		24,068
408,483		FNMA	7.000	07/01/32		431,764
180,192		FNMA	5.000	02/01/33		173,833
839,699		FNMA	4.500	03/25/33		829,799
1,096,414		FNMA	5.500	06/01/33		1,087,142
475,574		FNMA	5.000	07/01/33		458,790

431

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$      2,972,086		FNMA	5.500%	07/01/33	$	2,946,951
1,326,889		FNMA	4.500	08/01/33		1,236,340
1,500,000		FNMA	5.500	08/25/33		1,517,821
1,337,858		FNMA	4.500	10/01/33		1,246,560
584,486		FNMA	5.000	10/01/33		563,858
567,319		FNMA	5.000	10/01/33		547,297
1,147,090		FNMA	5.000	11/01/33		1,106,606
1,137,661		FNMA	5.000	11/01/33		1,097,510
476,524		FNMA	5.500	12/01/33		472,494
431,072		FNMA	5.500	12/01/33		427,427
770,939		FNMA	5.500	12/01/33		764,420
592,835		FNMA	5.500	01/01/34		587,822
282,381		FNMA	5.000	03/01/34		272,415
1,148,635		FNMA	5.000	03/01/34		1,108,097
231,310		FNMA	5.000	03/01/34		223,147
2,326,708		FNMA	5.000	03/01/34		2,244,592
282,277		FNMA	5.000	03/01/34		272,316
1,826,240		FNMA	5.000	04/01/34		1,759,504
4,385,585		FNMA	5.000	08/01/34		4,232,081
857,653	h	FNMA	6.000	08/01/34		870,234
229,154	h	FNMA	6.000	12/01/34		232,086
273,707	h	FNMA	6.000	12/01/34		277,209
678,215		FNMA	5.500	01/01/35		671,208
1,535,134		FNMA	5.500	02/01/35		1,522,152
2,295,116		FNMA	5.000	02/25/35		2,299,432
1,745,790		FNMA	5.500	04/01/35		1,727,753
574,859	h	FNMA	6.000	04/01/35		582,214
4,268,025	d	FNMA	5.500	05/01/35		4,219,927
3,327,789		FNMA	5.500	05/01/35		3,290,287
2,666,876		FNMA	6.000	05/01/35		2,696,826
112,377		FNMA	7.500	06/01/35		119,925
614,188		FNMA	6.000	07/01/35		621,086
939,331		FNMA	5.000	08/01/35		903,538
4,262,097		FNMA	6.000	08/01/35		4,309,963
1,175,612		FNMA	5.500	09/01/35		1,165,670
3,125,949		FNMA	5.000	10/01/35		3,006,834
254,485		FNMA	5.000	10/01/35		244,788
910,466		FNMA	5.500	10/01/35		900,206
983,154		FNMA	5.500	12/01/35		972,075
1,687,939		FNMA	5.000	04/01/36		1,621,510
2,544,820	d	FNMA	6.000	04/01/36		2,571,014
567,149		FNMA	6.500	04/01/36		584,684
2,065,911	i	FNMA	5.976	07/01/36		2,109,501
5,260,292	i	FNMA	5.733	09/01/36		5,380,453
573,331		FNMA	6.500	09/01/36		591,058
2,478,612	i	FNMA	5.770	12/01/36		2,530,723
1,256,500		FNMA	6.500	12/01/36		1,295,349
1,008,624		FNMA	6.500	12/01/36		1,031,929
3,884,986		FNMA	5.500	02/01/37		3,836,348
459,948		FNMA	7.000	02/01/37		482,641
941,981		FNMA	6.500	03/01/37		971,105
88,543		FNMA	7.000	04/01/37		92,912
1,898,773		FNMA	6.000	06/01/37		1,917,914

432

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$      1,037,855		FNMA	6.000%	07/01/37	$	1,048,318
224,562		FNMA	6.000	08/01/37		226,826
342,916		FNMA	6.500	08/01/37		353,446
308,316		FNMA	6.500	08/01/37		317,784
83,773		FNMA	6.000	09/01/37		84,618
131,716		FNMA	6.000	09/01/37		133,045
139,948		FNMA	6.000	09/01/37		141,360
103,172		FNMA	6.000	09/01/37		104,212
1,005,130		FNMA	6.000	09/01/37		1,007,322
231,014		FNMA	6.500	09/01/37		238,107
1,257,214		FNMA	6.500	09/01/37		1,295,818
624,098		FNMA	6.500	09/01/37		643,262
1,123,105		FNMA	6.500	09/01/37		1,157,591
460,333	i	FNMA	5.929	10/01/37		468,160
108,061		FNMA	6.000	10/01/37		109,151
2,382,456		FNMA	6.500	10/01/37		2,455,611
297,347		FNMA	7.000	03/01/38		312,024
641,061		FNMA	7.000	03/01/38		672,702
405,706		FNMA	7.000	03/01/38		425,730
6,000,000	h	FNMA	6.500	08/25/38		6,159,372
15,625		Government National Mortgage Association
		(GNMA)	6.500	09/15/23		16,244
46,824		GNMA	7.500	11/15/23		50,390
6,059		GNMA	7.500	08/15/28		6,523
75,309		GNMA	6.500	12/15/28		78,289
141,115		GNMA	6.500	03/15/29		146,610
45,672		GNMA	8.500	10/20/30		50,021
15,067		GNMA	7.000	06/20/31		16,007
318,623		GNMA	5.000	02/15/33		310,101
1,995,767		GNMA	5.000	09/15/33		1,942,385
427,427		GNMA	5.500	11/20/33		425,386
1,797,260		GNMA	5.500	02/20/35		1,787,953
626,746		GNMA	5.500	03/20/35		623,501
534,936	h	GNMA	6.000	10/20/36		543,128
535,957	h	GNMA	6.000	01/20/37		544,087
1,516,858	h	GNMA	6.000	12/15/37		1,542,100
2,000,000	h	GNMA	5.500	08/15/38		1,983,750
		TOTAL MORTGAGE BACKED SECURITIES				192,106,332
U.S. TREASURY SECURITIES - 6.75%
8,302,000		United States Treasury Bond	8.000	11/15/21		11,260,235
6,600,000	d	United States Treasury Bond	5.250	02/15/29		7,160,485
507,000		United States Treasury Bond	4.500	02/15/36		503,396
1,729,000		United States Treasury Bond	5.000	05/15/37		1,858,136
4,455,558		United States Treasury Inflation Indexed Bonds	0.875	04/15/10		4,532,489
1,352,612		United States Treasury Inflation Indexed Bonds	2.375	04/15/11		1,433,240
670,000		United States Treasury Note	1.750	03/31/10		661,363
775,000		United States Treasury Note	2.625	05/31/10		775,484
2,500,000		United States Treasury Note	3.125	04/30/13		2,479,102
25,000		United States Treasury Note	3.500	05/31/13		25,186
838,000		United States Treasury Note	4.000	02/15/15		875,514
3,171,000		United States Treasury Note	3.500	02/15/18		3,052,335

433

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      2,000,000	j	United States Treasury Strip Principal		08/15/27		$	807,446
		TOTAL U.S. TREASURY SECURITIES					35,424,411
		TOTAL GOVERNMENT BONDS					267,536,151
		(Cost $266,580,969)
		TOTAL BONDS					409,279,998
		(Cost $412,109,488)
STRUCTURED ASSETS - 19.26%
ASSET BACKED - 10.91%
500,000		AmeriCredit Automobile Receivables Trust Series
		2007-BF (Class A3A)	5.160%	04/06/12	Aaa		499,681
186,349	i	AQ Finance NIM Trust Series 2004-RN2	2.683	04/25/09	Aaa		170,657
74,666	i, m, v	AQ Finance NIM Trust Series 2004-RN3	2.663	05/25/09	Aaa		74,504
2,000,000		Capital One Auto Finance Trust Series 2007-B
		(Class A3A)	5.030	04/15/12	A2		1,950,043
1,934,821		Centex Home Equity Series 2002-A (Class AF6)	5.540	01/25/32	Aaa		1,884,826
705,000		Centex Home Equity Series 2004-C (Class AF5)	5.980	06/25/34	Aaa		625,856
789,805	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1B)	5.700	02/25/35	Baa2		376,259
789,805	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1M1)	5.700	02/25/35	Aa2		577,894
469,385		CIT Group Home Equity Loan Trust Series 2002-2
		(Class BF)	6.830	06/25/33	Ba1		233,299
682,304		CIT Group Home Equity Loan Trust Series 2002-2
		(Class MF2)	6.390	12/25/30	A3		456,019
1,700,000		Citicorp Mortgage Securities, Inc Series 2006-2
		(Class A3)	5.563	09/25/36	Aaa		1,683,062
500,000		Countrywide Alternative Loan Trust Series 2004-
		29CB (Class A7)	5.375	01/25/35	NR		476,513
698,750		Countrywide Alternative Loan Trust Series 2004-
		30CB (Class 1A15)	5.500	08/25/16	Aaa		650,322
1,800,000		Countrywide Alternative Loan Trust Series 2005-
		42CB (Class A12)	5.500	10/25/35	Aa1		1,398,443
153,369	i	Countrywide Home Equity Loan Trust Series 2004-B
		(Class 1A)	2.691	02/15/29	Baa3		81,392
203,366		Credit-Based Asset Servicing and Securitization
		LLC Series 2007-MX1 (Class A1)	6.159	12/25/36	Aaa		203,301
3,000,000		Flagstar Home Equity Loan Trust Series 2007-1A
		(Class AF3)	5.781	01/25/35	A2		2,378,431
2,650,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A3	5.590	10/25/29	Baa3		2,158,403
2,650,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A4	5.810	10/25/29	Baa3		1,435,913
81,795	i	Golden Securities Corp Series 2003-A (Class A1)	2.771	12/02/13	Aa3		81,749
400,941		HFC Home Equity Loan Asset Backed Certificates
		Series 2006-4 (Class A1F)	5.790	03/20/36	Aaa		399,393
1,125,741		HFC Home Equity Loan Asset Backed Certificates
		Series 2007-1 (Class A1F)	5.910	03/20/36	Aaa		1,127,967
3,000,000		Household Automotive Trust Series 2006-3
		(Class A4)	5.340	09/17/13	Aaa		3,012,806
2,250,000		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A3)	5.190	02/15/11	Aaa		2,267,392

434

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      1,234,666		Marriott Vacation Club Owner Trust Series 2006-
		1A (Class A)	5.737%	04/20/28	Aaa	$	1,195,811
1,124,522		Marriott Vacation Club Owner Trust Series 2006-
		2A (Class A)	5.362	10/20/28	Aaa		1,082,124
327,539		Marriott Vacation Club Owner Trust Series 2007-
		1A (Class A)	5.518	05/20/29	Aaa		309,834
200,749	m, v	New York City Tax Lien Series 2006-AA
		(Class A)	5.930	11/10/19	Aaa		201,001
200,000		Nissan Auto Lease Trust Series 2006-A
		(Class A4)	5.100	07/16/12	Aaa		203,238
312,876		Peco Energy Transition Trust Series 1999-A
		(Class A7)	6.130	03/01/09	Aaa		314,454
104,815		Public Service New Hampshire Funding LLC
		Series 2001-1 (Class A2)	5.730	11/01/10	Aaa		105,365
1,000,000		Renaissance Home Equity Loan Trust Series 2006-3
		(Class AF3)	5.586	11/25/36	Aaa		956,639
904,203		Residential Asset Mortgage Products, Inc Series
		2003-RZ5 (Class A7)	4.970	09/25/33	Aaa		803,579
5,000,000	d,i	Residential Asset Mortgage Products, Inc Series
		2004-RS11 (Class M1)	3.103	11/25/34	Aa1		4,239,967
474,399	i	Residential Asset Securities Corp Series 2001-KS2
		(Class AI6)	6.489	10/25/30	Aaa		430,926
7,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-H12 (Class A3)	5.790	02/25/36	Baa3		5,395,874
500,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M1)	6.010	02/25/36	Aa1		306,559
1,500,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M2)	6.060	02/25/36	Aa2		807,223
1,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A3)	5.960	02/25/36	Baa3		760,985
3,528,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI4 (Class A3)	5.440	09/25/36	Baa3		2,281,893
250,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI5 (Class A2)	5.520	04/25/21	Baa3		187,340
935,363		Saxon Asset Securities Trust Series 2002-2 (Class
		AF6)	6.120	11/25/30	Aaa		922,184
1,453,831	m	Sierra Receivables Funding Co Series 2006-1A
		(Class A1)	5.840	05/20/18	A2		1,381,209
978,985	i	SLM Student Loan Trust	3.060	10/25/12	Aaa		974,917
1,000,000	i	SLM Student Loan Trust	3.364	10/27/14	Aaa		998,607
1,125,507	i	SLM Student Loan Trust	3.050	04/25/17	Aaa		1,118,206
4,872,684	m, v	Sonic Capital LLC Series 2006-1A (Class A2)	5.096	12/20/31	Aa3		4,438,711
1,624,306	m, v	Wachovia Amortization Controlled Heloc NIM
		Series 2006-N1 (Class N1)	5.683	08/12/47	A3		1,557,407
1,815,741		Wachovia Auto Loan Owner Trust Series 2006-2A
		(Class A3)	5.230	08/22/11	Aaa		1,828,844
334,100	i	Wachovia Loan Trust Series 2005-SD1 (Class A)	2.843	05/25/35	NR		314,917
		TOTAL ASSET BACKED					57,321,939
OTHER MORTGAGE BACKED SECURITIES - 8.35%
80,000		Banc of America Commercial Mortgage, Inc Series
		2006-4 (Class A4)	5.634	07/10/46	Aaa		77,054

435

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      400,000		Banc of America Commercial Mortgage, Inc Series
		2006-6 (Class AJ)	5.421%	10/10/45	Aaa	$	321,640
350,000	i	Banc of America Commercial Mortgage, Inc Series
		2007-2 (Class A2)	5.634	04/10/49	NR		343,578
663,211		Banc of America Mortgage Securities, Inc Series
		2006-1 (Class A8)	6.000	05/25/36	Aaa		665,820
179,563		Bank of America Alternative Loan Trust Series
		2004-8 (Class 3A1)	5.500	09/25/19	Aaa		174,963
1,175,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-PW13 (Class A4)	5.540	09/11/41	NR		1,125,381
700,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-PW14 (Class A4)	5.201	12/11/38	NR		652,945
1,450,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2006-T22 (Class A4)	5.631	04/12/38	Aaa		1,401,286
600,000		Bear Stearns Commercial Mortgage Securities
		Series 2006-T24 (Class A4)	5.537	10/12/41	Aaa		574,088
550,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2007-PW16 (Class AJ)	5.902	06/11/40	Aaa		438,248
368,071	i	Bear Stearns Commercial Mortgage Securities
		Series 2007-PW17 (Class AM)	5.915	06/11/50	NR		336,969
365,000	i	Bear Stearns Commercial Mortgage Securities
		Series 2007-T28 (Class AJ)	6.175	09/11/42	NR		294,286
1,300,000		Citicorp Mortgage Securities, Inc Series 2005-4
		(Class 1A7)	5.500	07/25/35	Aa1		1,146,284
1,100,000		Citigroup/Deutsche Bank Commercial Mortgage
		Trust Series 2006-CD3 (Class A5)	5.617	10/15/48	Aaa		1,057,009
671,761		Countrywide Home Loan Mortgage Pass Through
		Trust Series 2005-17 (Class 1A10)	5.250	09/25/35	NR		663,427
750,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C4 (Class A3)	5.467	09/15/39	Aaa		712,926
1,250,000		Credit Suisse Mortgage Capital Certificates Series
		2006-C5 (Class A3)	5.311	12/15/39	Aaa		1,173,905
96,753	i	Credit Suisse Mortgage Capital Certificates Series
		2006-TF2A (Class A1)	2.571	10/15/21	Aaa		92,722
550,000	i	Credit Suisse Mortgage Capital Certificates Series
		2007-C1 (Class AJ)	5.457	02/15/40	Aaa		429,558
1,980,521	i	Credit Suisse/Morgan Stanley Commercial
		Mortgage Certificate Series HC1A (Class A1)	2.661	05/15/23	Aaa		1,873,594
277,894	i	GE Capital Commercial Mortgage Corp	5.512	11/10/45	Aaa		265,340
1,000,000		Greenwich Capital Commercial Funding Corp
		Series 2007-GG11 (Class A2)	5.597	12/10/49	NR		972,149
835,000		Greenwich Capital Commercial Funding Corp
		Series 2007-GG11 (Class A4)	5.736	12/10/49	NR		789,306
500,000		GS Mortgage Securities Corp II Series 2006-GG8
		(Class A4)	5.560	11/10/39	Aaa		478,666
750,000	i	GS Mortgage Securities Corp II Series 2007-GG10
		(Class A2)	5.778	08/10/45	Aaa		740,209
1,000,000	i	GS Mortgage Securities Corp II Series 2007-GG10
		(Class AM)	5.993	08/10/45	Aaa		915,960
364,216	i	GSAA Trust Series 2004-3 (Class AF3)	5.691	04/25/34	Aaa		364,800
1,000,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2003-CB6 (Class A2)	5.255	07/12/37	Aaa		988,515

436

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      1,175,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2006-FL1A (Class A2)	2.651%	02/15/20	Aaa	$	1,087,447
750,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2006-LDP7 (Class A2)	6.051	04/15/45	Aaa		754,093
1,100,000		JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-CB18 (Class A4)	5.440	06/12/47	Aaa		1,023,108
550,000	i	LB-UBS Commercial Mortgage Trust Series 2007-
		C2 (Class AJ)	5.562	02/15/40	NR		432,237
378,000	i	LB-UBS Commercial Mortgage Trust Series 2008-
		C1 (Class A2)	6.317	04/15/41	Aaa		368,588
188,504		MASTR Asset Securitization Trust Series 2005-2
		(Class 3A1)	5.000	10/25/20	Aaa		181,734
1,000,000	i	Merrill Lynch Mortgage Trust Series 2003-KEY1
		(Class A4)	5.236	11/12/35	NR		978,701
1,000,000	i	Merrill Lynch Mortgage Trust Series 2004-BPC1
		(Class AJ)	4.922	10/12/41	A		875,454
241,897	i	Merrill Lynch Mortgage Trust Series 2005-CIP1
		(Class AM)	5.107	07/12/38	Aaa		227,397
275,000	i	Merrill Lynch Mortgage Trust Series 2006-C1
		(Class A4)	5.842	05/12/39	NR		267,567
480,000	i	Merrill Lynch Mortgage Trust Series 2008-C1
		(Class AJ)	6.266	02/12/51	Aaa		402,056
295,000	i	Merrill Lynch Mortgage Trust Series 2008-C1
		(Class AM)	6.266	02/12/51	Aaa		278,153
220,000	g, i	Merrill Lynch Mortgage Trust Series 2008-C1
		(Class C)	6.266	02/12/51	NR		151,929
250,000	i	Merrill Lynch/Countrywide Commercial Mortgage
		Trust Series 2006-1 (Class A4)	5.603	02/12/39	NR		239,901
365,000	i	Merrill Lynch/Countrywide Commercial Mortgage
		Trust Series 2007-8 (Class AM)	6.156	08/12/49	NR		331,795
295,000	i	Merrill Lynch/Countrywide Commercial Mortgage
		Trust Series 2007-9 (Class AM)	5.856	09/12/49	NR		268,613
1,200,000		Morgan Stanley Capital I Series 2005-HQ5
		(Class A2)	4.809	01/14/42	NR		1,198,325
100,000	i	Morgan Stanley Capital I Series 2006-HQ9
		(Class A4)	5.731	07/12/44	NR		96,951
250,000	i	Morgan Stanley Capital I Series 2006-IQ11
		(Class AJ)	5.948	10/15/42	NR		208,441
1,100,000		Morgan Stanley Capital I Series 2006-IQ12
		(Class A2)	5.283	12/15/43	NR		1,082,236
500,000		Morgan Stanley Capital I Series 2007-HQ11
		(Class A31)	5.439	02/12/44	Aaa		478,741
420,000		Morgan Stanley Capital I Series 2007-IQ13
		(Class A4)	5.364	03/15/44	NR		388,287
400,000		Residential Accredit Loans, Inc Series 2005-QS17
		(Class A1)	6.000	12/25/35	Aaa		334,143
940,000		Residential Accredit Loans, Inc Series 2005-QS6
		(Class A7)	5.750	05/25/35	Aa1		814,273
530,000	i	Wachovia Bank Commercial Mortgage Trust
		Series 2006-WL7A (Class A2)	2.591	09/15/21	Aaa		499,435
3,350,000	i	Wachovia Bank Commercial Mortgage Trust
		Series 2007-C30 (Class AJ)	5.413	12/15/43	Aaa		2,605,455

437

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      100,000		Wachovia Bank Commercial Mortgage Trust
		Series 2007-C30 (Class AM)	5.383%	12/15/43	Aaa	$	88,630
750,000		Wachovia Bank Commercial Mortgage Trust
		Series 2007-C31 (Class A2)	5.421	04/15/47	Aaa		730,752
3,899,335		Washington Mutual, Inc Series 2003-S10
		(Class A1)	4.500	10/25/18	NR		3,711,288
2,337,528		Wells Fargo Mortgage Backed Securities Trust
		Series 2004-7 (Class 1A1)	4.500	07/25/19	NR		2,200,199
1,892,036		Wells Fargo Mortgage Backed Securities Trust
		Series 2005-1 (Class 2A1)	5.000	01/25/20	Aaa		1,812,808
662,380	i	Wells Fargo Mortgage Backed Securities Trust
		Series 2006-AR2 (Class 2A3)	5.106	03/25/36	NR		641,669
		TOTAL OTHER MORTGAGE BACKED SECURITIES					43,831,034
		TOTAL STRUCTURED ASSETS					101,152,973
		(Cost $112,403,286)
SHARES
PREFERRED STOCKS - 0.95%
DEPOSITORY INSTITUTIONS - 0.05%
14,000	e	Bank of America Corp	6.204	12/30/49	A1		280,000
		TOTAL DEPOSITORY INSTITUTIONS					280,000
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.90%
157,804	e	Federal National Mortgage Association (FNMA)	8.250	12/30/49	Aa3		3,621,602
45,290	e	Federal Home Loan Mortgage Corp (FHLMC)	8.375	12/30/49	Aa3		1,100,547
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES					4,722,149
		TOTAL PREFERRED STOCKS					5,002,149
		(Cost $5,427,350)
SHARES
TIAA-CREF MUTUAL FUNDS - 0.75%
427,607		TIAA-CREF Institutional High Yield Fund II					3,951,098
		TOTAL TIAA-CREF MUTUAL FUNDS					3,951,098
		(Cost $4,359,079)
SHORT-TERM INVESTMENTS - 6.33%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.81%
14,721,331		State Street Navigator Securities Lending Prime Portfolio					14,721,331
							14,721,331
PRINCIPAL
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 3.52%
$      8,030,000		Federal Home Loan Bank (FHLB)		07/01/08			8,030,000
10,466,000		FHLB		07/09/08			10,460,997
							18,490,997
		TOTAL SHORT-TERM INVESTMENTS					33,212,328
		(Cost $33,212,328)

438

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Bond Plus Fund II
				VALUE
		TOTAL PORTFOLIO - 105.22%	$	552,598,546
		(Cost $567,511,531)
		OTHER ASSETS & LIABILITIES, NET - (5.22)%		(27,397,718	)
		NET ASSETS - 100.00%	$	1,918,067,346
		The following abbreviations are used in portfolio descriptions:
		LLC   -Limited Liability Company
		LP      -  Limited Partnership
		NR     -  Not rated by Moody's
		plc      - Public Limited Company
	+	As provided by Moody's Investors Service (unaudited).
	d	All or a portion of these securities have been segregated by the custodian to cover securities
		purchased on a delayed delivery basis.
	e	All or a portion of these securities are out on loan
	g	Security is exempt from registration under Rule 144 (A) of the Securities Act of 1933 and may be resold in
		transactions exempt from registration to qualified institutional buyers.
		At June 30, 2008, the value of these securities amounted to $25,370,632 or 4.83% of net assets.
	h	These securities were purchased on a delayed delivery basis.
	i	Floating rate or variable rate securities reflects the rate at June 30, 2008.
	j	Zero coupon
	m	Indicates a security has been deemed illiquid.
	v	Security valued at fair value.
		At June 30, 2008, the net unrealized depreciation on investments was $14,912,985,
		consisting of gross unrealized appreciation of $4,112,940 and gross unrealized depreciation of
		$19,025,925.

439

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
SHORT-TERM BOND FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
BONDS - 80.56%
CORPORATE BONDS - 21.99%
AMUSEMENT AND RECREATION SERVICES - 0.49%
$      350,000		Walt Disney Co	5.700%	07/15/11	A2	$	365,625
1,000,000		Walt Disney Co	4.700	12/01/12	A2		1,006,293
		TOTAL AMUSEMENT AND RECREATION SERVICES					1,371,918
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.17%
500,000	e	Home Depot, Inc	3.750	09/15/09	Baa1		488,954
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					488,954
BUSINESS SERVICES - 0.26%
500,000		Daimler Finance North America LLC	5.875	03/15/11	A3		506,431
100,000		Daimler Finance North America LLC	5.750	09/08/11	A3		101,974
125,000		Oracle Corp	4.950	04/15/13	A2		126,208
		TOTAL BUSINESS SERVICES					734,613
CHEMICALS AND ALLIED PRODUCTS - 0.92%
100,000		Abbott Laboratories	5.600	05/15/11	A1		104,573
200,000		Air Products & Chemicals, Inc	4.150	02/01/13	A2		195,591
1,000,000		Clorox Co	5.450	10/15/12	Baa2		1,004,834
1,000,000		GlaxoSmithKline Capital, Inc	4.850	05/15/13	A1		998,652
300,000		Lubrizol Corp	4.625	10/01/09	Baa3		298,592
		TOTAL CHEMICALS AND ALLIED PRODUCTS					2,602,242
COMMUNICATIONS - 1.28%
1,500,000		Alamosa Delaware, Inc	8.500	01/31/12	Baa3		1,485,000
250,000	e	Allbritton Communications Co	7.750	12/15/12	B1		243,125
100,000		AT&T Corp	7.300	11/15/11	A2		106,509
500,000		Qwest Communications International, Inc	7.250	02/15/11	Ba3		483,125
295,000		Rogers Wireless, Inc	8.000	12/15/12	Ba1		304,588
600,000		Time Warner Cable, Inc	5.400	07/02/12	Baa2		593,939
200,000		Verizon Communications, Inc	5.250	04/15/13	A3		198,849
200,000		Viacom, Inc	5.750	04/30/11	Baa3		200,466
		TOTAL COMMUNICATIONS					3,615,601
DEPOSITORY INSTITUTIONS - 7.57%
4,700,000	g	BA Covered Bond Issuer	5.500	06/14/12	Aaa		4,876,720
1,500,000		Banco Nacional de Comercio Exterior SNC	3.875	01/21/09	A1		1,496,250
300,000		Bank of America Corp	4.900	05/01/13	Aa2		289,517
2,475,000		Citigroup, Inc	5.125	02/14/11	Aa3		2,465,583
600,000		Citigroup, Inc	5.100	09/29/11	Aa3		593,020
2,100,000		Citigroup, Inc	5.500	04/11/13	Aa3		2,049,552
130,000		Credit Suisse	5.000	05/15/13	Aa1		126,511
250,000		Deutsche Bank AG.	4.875	05/20/13	Aa1		245,927

440

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      500,000		FIA Card Services NA	7.125%	11/15/12	Aa1	$	533,532
1,250,000		JPMorgan Chase & Co	3.500	03/15/09	Aa2		1,245,043
750,000		M&I Marshall & Ilsley Bank	4.400	03/15/10	Aa3		735,167
200,000		National City Corp	4.000	02/01/11	A3		161,750
1,000,000	g	Nationwide Building Society	5.500	07/18/12	Aaa		1,014,928
250,000		Popular North America, Inc	3.875	10/01/08	A3		249,475
250,000		Popular North America, Inc	5.650	04/15/09	A3		247,581
625,000		US Bank NA	5.700	12/15/08	Aa2		631,338
625,000		Wachovia Corp	5.300	10/15/11	Aa3		611,113
500,000		Washington Mutual, Inc	5.500	08/24/11	Baa3		435,000
2,375,000		Wells Fargo & Co	4.375	01/31/13	Aa1		2,299,729
1,000,000		Western Financial Bank	9.625	05/15/12	Aa2		1,040,608
		TOTAL DEPOSITORY INSTITUTIONS					21,348,344
ELECTRIC, GAS, AND SANITARY SERVICES - 1.12%
275,000		Consumers Energy Co	4.400	08/15/09	Baa1		275,226
100,000	g	Korea Southern Power Co Ltd	5.375	04/18/13	A1		98,415
1,250,000		Ohio Power Co	5.300	11/01/10	A3		1,265,720
625,000		ONEOK Partners LP	5.900	04/01/12	Baa2		628,345
600,000		Texas Eastern Transmission LP	7.300	12/01/10	A3		640,532
250,000		Veolia Environnement	5.250	06/03/13	A3		249,770
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					3,158,008
FABRICATED METAL PRODUCTS - 0.36%
1,000,000		Stanley Works	5.000	03/15/10	A2		1,005,705
		TOTAL FABRICATED METAL PRODUCTS					1,005,705
FOOD AND KINDRED PRODUCTS - 1.60%
200,000		Bottling Group LLC	4.625	11/15/12	Aa2		202,236
625,000	g	Cadbury Schweppes US Finance LLC	3.875	10/01/08	Baa2		624,360
440,000		Diageo Finance BV	3.875	04/01/11	A3		432,163
600,000	g	Dr. Pepper Snapple Group, Inc	6.120	05/01/13	Baa3		608,176
625,000		Kraft Foods, Inc	4.000	10/01/08	Baa2		624,791
1,000,000		Kraft Foods, Inc	6.000	02/11/13	Baa2		1,010,322
1,000,000	g	Miller Brewing Co	4.250	08/15/08	Baa1		1,001,364
		TOTAL FOOD AND KINDRED PRODUCTS					4,503,412
FOOD STORES - 0.11%
300,000		Safeway, Inc	4.950	08/16/10	Baa2		301,941
		TOTAL FOOD STORES					301,941
GENERAL BUILDING CONTRACTORS - 0.18%
500,000	e	DR Horton, Inc	9.750	09/15/10	Ba1		512,500
		TOTAL GENERAL BUILDING CONTRACTORS					512,500
GENERAL MERCHANDISE STORES - 0.04%
125,000		Wal-Mart Stores, Inc	4.250	04/15/13	Aa2		124,300
		TOTAL GENERAL MERCHANDISE STORES					124,300
HOLDING AND OTHER INVESTMENT OFFICES - 0.22%
625,000		Simon Property Group LP	5.600	09/01/11	A3		618,114
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES					618,114

441

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.90%
$      1,250,000		Caterpillar Financial Services Corp	2.700%	07/15/08	A2	$	1,249,750
250,000		Hewlett-Packard Co	5.250	03/01/12	A2		256,126
1,000,000		IBM International Group Capital LLC	5.050	10/22/12	A1		1,021,232
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					2,527,108
INSTRUMENTS AND RELATED PRODUCTS - 0.09%
250,000		Xerox Corp	7.625	06/15/13	Baa2		259,602
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					259,602
INSURANCE CARRIERS - 0.53%
250,000	g	Mantis Reef Ltd	4.799	11/03/09	A3		244,258
1,000,000		Prudential Financial, Inc	5.800	06/15/12	A3		1,019,915
250,000		United Health Group, Inc	4.875	02/15/13	Baa1		241,910
		TOTAL INSURANCE CARRIERS					1,506,083
METAL MINING - 0.07%
200,000		Rio Tinto Finance USA Ltd	5.875	07/15/13	A3		201,109
		TOTAL METAL MINING					201,109
MISCELLANEOUS RETAIL - 0.36%
1,000,000		CVS Caremark Corp	5.750	08/15/11	Baa2		1,024,609
		TOTAL MISCELLANEOUS RETAIL					1,024,609
NONDEPOSITORY INSTITUTIONS - 2.12%
250,000		American Express Centurion Bank	5.550	10/17/12	Aa3		247,308
1,250,000	g	American Honda Finance Corp	5.125	12/15/10	Aa3		1,287,806
100,000		Capital One Financial Corp	5.700	09/15/11	A3		95,115
1,000,000	i	Countrywide Financial Corp	3.210	05/07/12	Aa2		898,919
250,000		General Motors Acceptance Corp LLC	6.625	05/15/12	B3		171,504
1,250,000		HSBC Finance Corp	5.250	01/14/11	Aa3		1,253,005
1,050,000		HSBC Finance Corp	5.900	06/19/12	Aa3		1,054,192
500,000		International Lease Finance Corp	5.450	03/24/11	A1		469,872
500,000		Toyota Motor Credit Corp	2.875	08/01/08	Aaa		499,878
		TOTAL NONDEPOSITORY INSTITUTIONS					5,977,599
OIL AND GAS EXTRACTION - 0.09%
250,000		BJ Services Co	5.750	06/01/11	Baa1		252,644
		TOTAL OIL AND GAS EXTRACTION					252,644
PIPELINES, EXCEPT NATURAL GAS - 0.93%
750,000		Enbridge Energy Partners LP	4.000	01/15/09	Baa2		746,206
625,000		Enterprise Products Operating LP	4.950	06/01/10	Baa3		624,864
625,000		Panhandle Eastern Pipe Line	4.800	08/15/08	Baa3		624,847
625,000		Plains All American Pipeline LP	4.750	08/15/09	Baa3		623,595
		TOTAL PIPELINES, EXCEPT NATURAL GAS					2,619,512
PRIMARY METAL INDUSTRIES - 0.09%
250,000	g	ArcelorMittal	5.375	06/01/13	Baa2		246,170
		TOTAL PRIMARY METAL INDUSTRIES					246,170
PRINTING AND PUBLISHING - 0.35%
1,000,000		Thomson Corp	5.250	08/15/13	Baa1		976,485
		TOTAL PRINTING AND PUBLISHING					976,485

442

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
RAILROAD TRANSPORTATION - 0.26%
$      500,000		Canadian National Railway Co	4.950%	01/15/14	A3	$	496,746
150,000	e	Canadian Pacific Railway Co	5.750	05/15/13	Baa3		149,135
100,000	g	Norfolk Southern Corp	5.750	04/01/18	Baa1		98,419
		TOTAL RAILROAD TRANSPORTATION					744,300
REAL ESTATE - 0.39%
1,500,000	g, i	USB Realty Corp	6.091	12/30/49	A1		1,095,000
		TOTAL REAL ESTATE					1,095,000
SECURITY AND COMMODITY BROKERS - 1.11%
500,000	i	Goldman Sachs Capital II	5.793	12/30/49	A2		347,680
650,000		Goldman Sachs Group, Inc	5.700	09/01/12	Aa3		652,039
500,000	i	Lehman Brothers Holdings Capital Trust V	5.857	12/30/49	A3		326,250
600,000		Lehman Brothers Holdings, Inc	5.250	02/06/12	A1		567,800
1,250,000		Merrill Lynch & Co, Inc	4.125	09/10/09	A1		1,235,070
		TOTAL SECURITY AND COMMODITY BROKERS					3,128,839
TOBACCO PRODUCTS - 0.05%
150,000		Philip Morris Interanational, Inc	4.875	05/16/13	A2		147,349
		TOTAL TOBACCO PRODUCTS					147,349
TRANSPORTATION BY AIR - 0.11%
300,000		FedEx Corp	3.500	04/01/09	Baa2		298,982
		TOTAL TRANSPORTATION BY AIR					298,982
TRANSPORTATION EQUIPMENT - 0.22%
600,000	g	BAE Systems Holdings, Inc	6.400	12/15/11	Baa2		616,915
		TOTAL TRANSPORTATION EQUIPMENT					616,915
		TOTAL CORPORATE BONDS					62,007,958
		(Cost $63,098,196)
GOVERNMENT BONDS - 58.57%
AGENCY SECURITIES - 21.73%
750,000		Federal Farm Credit Bank (FFCB)	3.375	07/15/08	Aaa		750,223
750,000		FFCB	4.125	04/15/09	Aaa		757,381
4,400,000		FFCB	2.625	04/21/11	Aaa		4,294,369
2,000,000		FFCB	5.000	10/16/09	Aaa		2,012,126
1,000,000		FFCB	2.375	04/30/10	Aaa		986,139
3,000,000		FFCB	5.375	08/19/11	Aaa		3,156,060
500,000		Federal Home Loan Mortgage Corp (FHLMC)	3.750	02/27/09	Aaa		503,022
4,700,000		FHLMC	4.750	11/03/09	Aaa		4,810,629
6,500,000		FHLMC	4.875	02/09/10	Aaa		6,687,778
2,700,000		FHLMC	7.000	03/15/10	Aaa		2,875,173
3,100,000		FHLMC	3.750	06/28/13	Aaa		3,043,196
3,000,000		Federal National Mortgage Association (FNMA)	5.375	08/15/09	Aaa		3,082,053
3,650,000		FNMA	5.100	09/10/09	Aaa		3,665,330
3,000,000		FNMA	4.625	12/15/09	Aaa		3,070,425
250,000		FNMA	2.375	05/20/10	Aaa		246,415
5,900,000		FNMA	7.125	06/15/10	Aaa		6,335,621

443

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      3,500,000		FNMA	6.250%	02/01/11	Aa2	$	3,669,907
2,000,000		FNMA	3.625	02/12/13	Aaa		1,960,124
200,000		Private Export Funding Corp	5.870	07/31/08	Aaa		200,525
7,000,000		Private Export Funding Corp	4.900	12/15/11	Aaa		7,236,194
2,000,000		Private Export Funding Corp	3.550	04/15/13	Aaa		1,937,108
		TOTAL AGENCY SECURITIES					61,279,798
FOREIGN GOVERNMENT BONDS - 3.00%
250,000	e	Canada Mortgage & Housing Corp	4.800	10/01/10	Aaa		258,201
1,100,000		Eksportfinans A/S	5.000	02/14/12	Aaa		1,133,414
400,000	g	Emirate of Abu Dhabi	5.500	08/02/12	Aa2		408,964
1,000,000		Federal Republic of Germany	3.875	06/01/10	Aaa		1,004,900
100,000		Hellenic Republic	4.625	06/25/13	NR		99,938
1,500,000		International Finance Corp	5.125	05/02/11	Aaa		1,574,641
1,550,000		Kreditanstalt fuer Wiederaufbau	5.250	05/19/09	Aaa		1,579,624
250,000		Landwirtschaftliche Rentenbank	5.250	07/02/12	Aaa		263,174
1,000,000	e	Province of Manitoba Canada	4.450	04/12/10	Aa1		1,018,411
500,000	e	Province of Manitoba Canada	5.000	02/15/12	Aa1		521,003
600,000		Province of Ontario	3.375	05/20/11	Aa1		595,025
		TOTAL FOREIGN GOVERNMENT BONDS					8,457,295
MORTGAGE BACKED SECURITIES - 1.20%
597,911		Federal Home Loan Mortgage Corp (FHLMC)	5.125	10/15/15			603,580
632,443		FHLMC	6.000	09/15/16			653,197
112,229		Federal Home Loan Mortgage Corp Gold
		(FGLMC)	6.000	12/01/17			115,237
496,460		FGLMC	5.500	01/01/19			503,215
449,871		FGLMC	5.500	01/01/19			455,992
516,921		Federal National Mortgage Association (FNMA)	6.261	12/01/08			519,915
80,050		FNMA	5.000	06/01/13			80,506
459,023		FNMA	5.000	02/25/35			459,886
		TOTAL MORTGAGE BACKED SECURITIES					3,391,528
U.S. TREASURY SECURITIES - 32.64%
11,575,383		United States Treasury Inflation Indexed Bonds	0.875	04/15/10			11,775,244
1,352,612		United States Treasury Inflation Indexed Bonds	2.375	04/15/11			1,433,240
3,175,320		United States Treasury Inflation Indexed Bonds	2.000	04/15/12			3,349,963
4,000,000		United States Treasury Note	3.875	05/15/09			4,052,188
2,000,000		United States Treasury Note	4.000	08/31/09			2,037,656
6,000,000		United States Treasury Note	2.000	02/28/10			5,956,404
2,000,000		United States Treasury Note	2.625	05/31/10			2,001,250
2,500,000		United States Treasury Note	4.500	11/30/11			2,615,430
21,211,000		United States Treasury Note	4.625	12/31/11			22,284,807
13,641,000		United States Treasury Note	2.750	02/28/13			13,317,026
14,274,000		United States Treasury Note	2.500	03/31/13			13,771,070
9,340,000		United States Treasury Note	3.125	04/30/13			9,261,927
50,000		United States Treasury Note	3.500	05/31/13			50,371
175,000		United States Treasury Note	3.875	05/15/18			173,537
		TOTAL U.S. TREASURY SECURITIES					92,080,113
		TOTAL GOVERNMENT BONDS					165,208,734
		(Cost $163,324,436)
		TOTAL BONDS					227,216,692
		(Cost $226,422,632)

444

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
STRUCTURED ASSETS - 8.52%
ASSET BACKED - 6.84%
$      1,000,000		AmeriCredit Automobile Receivables Trust Series
		2006-AF (Class A4)	5.640%	09/06/13	Aaa	$	1,007,139
55,677		Asset Backed Funding Corp NIM Trust Series
		2005-WMC1 (Class N1)	5.900	07/26/35	NR		6
257,976		Centex Home Equity Series 2002-A (Class AF6)	5.540	01/25/32	Aaa		251,310
1,410,559		Centex Home Equity Series 2004-D (Class MF2)	5.560	09/25/34	Aa3		986,259
394,902	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1B)	5.700	02/25/35	Baa2		188,130
394,902	i	Chase Funding Mortgage Loan Asset-Backed
		Certificates Series 2004-2 (Class 1M2)	5.700	02/25/35	A2		269,358
469,385		CIT Group Home Equity Loan Trust Series 2002-2
		(Class BF)	6.830	06/25/33	Ba1		233,299
682,304		CIT Group Home Equity Loan Trust Series 2002-2
		(Class MF2)	6.390	12/25/30	A3		456,019
600,000		Citicorp Mortgage Securities, Inc Series 2006-1
		(Class A3)	5.706	07/25/36	Aaa		589,240
565,035	i	Countrywide Asset-Backed Certificates Series
		2006-S3 (Class A1)	2.593	06/25/21	Baa3		467,595
2,000,000		Flagstar Home Equity Loan Trust Series 2007-1A
		(Class AF3)	5.781	01/25/35	A2		1,585,621
152,199	i	GMAC Mortgage Corporation Loan Trust 2005-
		HE2 A3	4.622	11/25/35	Baa3		140,125
2,000,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A3	5.590	10/25/29	Baa3		1,628,983
2,000,000		GMAC Mortgage Corporation Loan Trust 2006-
		HLTV A4	5.810	10/25/29	Baa3		1,083,708
250,000		JPMorgan Auto Receivables Trust Series 2007-A
		(Class A3)	5.190	02/15/11	Aaa		251,932
1,728,532		Marriott Vacation Club Owner Trust Series 2006-
		1A (Class A)	5.737	04/20/28	Aaa		1,674,136
177,132	m, v	New York City Tax Lien Series 2006-AA
		(Class A)	5.930	11/10/19	Aaa		177,354
500,000		Renaissance Home Equity Loan Trust Series 2006-3
		(Class AF3)	5.586	11/25/36	Aaa		478,319
4,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-H12 (Class A3)	5.790	02/25/36	Baa3		3,083,356
500,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI1 (Class M2)	6.060	02/25/36	Aa2		269,074
2,000,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A2)	5.950	02/25/36	Baa3		1,732,085
1,300,000		Residential Funding Mortgage Securities II, Inc
		Series 2006-HI3 (Class A3)	5.960	02/25/36	Baa3		989,280
935,363		Saxon Asset Securities Trust Series 2002-2 (Class
		AF6)	6.120	11/25/30	Aaa		922,184
807,684	m	Sierra Receivables Funding Co Series 2006-1A
		(Class A1)	5.840	05/20/18	A2		767,338
80,130		Triad Auto Receivables Owner Trust Series 2006-B
		(Class A3)	5.410	08/12/11	Aaa		80,203
		TOTAL ASSET BACKED					19,312,053

445

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
OTHER MORTGAGE BACKED SECURITIES - 1.68%
$      251,300		Aames Mortgage Trust Series 2002-1 (Class A3)	6.896%	06/25/32	Aaa	$	231,510
428,324		Banc of America Mortgage Securities, Inc Series
		2006-1 (Class A8)	6.000	05/25/36	Aaa		430,009
49,608	i	Credit Suisse Mortgage Capital Certificates Series
		2006-TF2A (Class A1)	2.571	10/15/21	Aaa		47,541
353,655		First Horizon Asset Securities, Inc Series 2003-9
		(Class 1A4)	5.500	11/25/33	NR		352,150
350,000	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2006-LDP7 (Class A2)	6.051	04/15/45	Aaa		351,910
883,275	i	JP Morgan Chase Commercial Mortgage Securities
		Corp Series 2007-FL1A (Class A1)	2.846	07/15/19	Aaa		855,457
1,200,000		Morgan Stanley Capital I Series 2005-HQ5 (Class
		A2)	4.809	01/14/42	NR		1,198,325
660,000		Morgan Stanley Capital I Series 2006-IQ12 (Class
		A2)	5.283	12/15/43	NR		649,342
300,000	i	Wachovia Bank Commercial Mortgage Trust
		Series 2006-WL7A (Class A2)	2.591	09/15/21	Aaa		282,699
350,000		Wachovia Bank Commercial Mortgage Trust
		Series 2007-C31 (Class A2)	5.421	04/15/47	Aaa		341,018
		TOTAL OTHER MORTGAGE BACKED SECURITIES					4,739,961
		TOTAL STRUCTURED ASSETS					24,052,014
		(Cost $28,944,158)
PREFERRED STOCKS - 0.81%
NONDEPOSITORY INSTITUTIONS - 0.81%
79,583	e	Federal National Mortgage Association (FNMA)	8.250	12/30/49	Aa3		1,826,430
18,600	e	Federal Home Loan Mortgage Corp (FHLMC)	8.375	12/30/49	Aa3		451,980
		TOTAL NONDEPOSITORY INSTITUTIONS					2,278,410
		TOTAL PREFERRED STOCKS					2,278,410
		(Cost $2,454,575)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 11.44%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 9.70%
$ 27,380,000		Federal Home Loan Bank (FHLB)		07/01/08			27,380,000
							27,380,000
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.74%
4,904,091		State Street Navigator Securities Lending Prime Portfolio					4,904,091
							4,904,091
		TOTAL SHORT-TERM INVESTMENTS					32,284,091
		(Cost $32,284,091)
		TOTAL PORTFOLIO - 101.33%					285,831,207
		(Cost $290,105,456)
		OTHER ASSETS & LIABILITIES, NET - (1.33)%					(3,758,970)
		NET ASSETS - 100.00%				$	282,072,237

446

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Short-Term Bond Fund II
		The following abbreviations are used in portfolio descriptions:
		LLC  -Limited Liability Company
		LP    - Limited Partnership
		NR   - Not rated by Moody's
	+	As provide by Moody's Investors Service (unaudited)
	*	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 June 30, 2008, the value of these securities amounted to $12,221,495 or 4.33% of net assets.
	i	Floating rate or variable rate securities reflects the rate at June 30, 2008.
	v	Security valued at fair value.
		At June 30, 2008, the unrealized depreciation on investments was $4,274,249, consisting of
		gross unrealized appreciation of $3,695,361 and gross unrealized depreciation of $7,969,610.

447

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
HIGH-YIELD FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
CORPORATE BONDS - 97.53%
AMUSEMENT AND RECREATION SERVICES - 3.25%
$      2,100,000	g	Buffalo Thunder Development Authority	9.375%	12/15/14	B2	$	1,407,000
1,675,000	g	Harrah's Operation Co, Inc	10.750	02/01/16	B3		1,390,250
2,175,000	g	Pokagon Gaming Authority	10.375	06/15/14	B3		2,332,688
1,500,000	g	Seminole Indian Tribe of Florida	7.804	10/01/20	Ba1		1,451,040
2,750,000	e	Speedway Motorsports, Inc	6.750	06/01/13	Ba2		2,681,250
4,170,000		WMG Acquisition Corp	7.375	04/15/14	B3		3,466,313
		TOTAL AMUSEMENT AND RECREATION SERVICES					12,728,541
APPAREL AND OTHER TEXTILE PRODUCTS - 0.23%
1,348,000	e	Broder Brothers Co	11.250	10/15/10	Caa2		913,270
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS					913,270
AUTO REPAIR, SERVICES AND PARKING - 1.38%
1,640,000		Hertz Corp	8.875	01/01/14	B1		1,500,600
2,960,000	e	Hertz Corp	10.500	01/01/16	B2		2,693,600
2,509,000	d,e	Keystone Automotive Operations, Inc	9.750	11/01/13	Caa2		1,204,320
		TOTAL AUTO REPAIR, SERVICES AND PARKING					5,398,520
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 2.02%
2,755,000	e	Asbury Automotive Group, Inc	8.000	03/15/14	B3		2,383,075
4,475,000	e	Autonation, Inc	7.000	04/15/14	Ba2		3,982,750
1,690,000	e	Sonic Automotive, Inc	8.625	08/15/13	B1		1,563,250
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS					7,929,075
BUSINESS SERVICES - 4.70%
1,700,000		Activant Solutions, Inc	9.500	05/01/16	Caa1		1,343,000
1,894,000	g	Ceridian Corp	11.250	11/15/15	Caa2		1,718,805
990,000	e,g,o	Ceridian Corp	12.250	11/15/15	Caa2		898,425
1,275,000		Deluxe Corp	7.375	06/01/15	Ba2		1,115,625
4,750,000	e	Lamar Media Corp	7.250	01/01/13	Ba3		4,565,938
852,000		Lamar Media Corp	6.625	08/15/15	Ba3		775,320
625,000		Lamar Media Corp	6.625	08/15/15	Ba3		568,750
1,259,000	g	Open Solutions, Inc	9.750	02/01/15	Caa1		1,026,085
1,750,000		Sungard Data Systems, Inc	9.125	08/15/13	Caa1		1,767,500
1,490,000	e	Sungard Data Systems, Inc	10.250	08/15/15	Caa1		1,497,450
852,000	e	United Rentals North America, Inc	7.750	11/15/13	B2		681,600
2,500,000	e,g	VIP Finance Ireland Ltd for OJSC Vimpel
		Communications	9.125	04/30/18	Ba2		2,459,370
		TOTAL BUSINESS SERVICES					18,417,868
CHEMICALS AND ALLIED PRODUCTS - 4.40%
1,880,000		Chemtura Corp	6.875	06/01/16	Ba2		1,626,200
1,000,000		Church & Dwight Co, Inc	6.000	12/15/12	Ba2		960,000
1,250,000		Hercules, Inc	6.750	10/15/29	Ba1		1,212,500
2,080,000	e,g	Ineos Group Holdings plc	8.500	02/15/16	B3		1,367,600

448

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	B2	$	2,126,750
2,517,000	g	LyondellBasell Industries AF S.C.A.	8.375%	08/15/15	B3		1,598,295
2,500,000	e	Momentive Performance Materials, Inc	9.750	12/01/14	B3		2,137,500
1,600,000	e	Momentive Performance Materials, Inc	11.500	12/01/16	Caa2		1,192,000
1,500,000	g	Mosaic Co	7.375	12/01/14	Ba1		1,567,500
1,510,000		Nalco Co	7.750	11/15/11	B1		1,510,000
1,933,000	g	Reichhold Industries, Inc	9.000	08/15/14	B2		1,933,000
		TOTAL CHEMICALS AND ALLIED PRODUCTS					17,231,345
COAL MINING - 3.15%
3,050,000		Arch Western Finance LLC	6.750	07/01/13	B1		2,989,000
1,750,000		Consol Energy, Inc	7.875	03/01/12	Ba1		1,820,000
6,176,000	g	Griffin Coal Mining Co Pty Ltd	9.500	12/01/16	Ba3		4,909,920
2,625,000		Peabody Energy Corp	6.875	03/15/13	Ba1		2,631,563
		TOTAL COAL MINING					12,350,483
COMMUNICATIONS - 13.10%
4,402,000	d	Allbritton Communications Co	7.750	12/15/12	B1		4,280,945
1,250,000	g	Charter Communications Operating LLC	8.000	04/30/12	B3		1,181,250
1,537,000	g	Charter Communications, Inc	10.875	09/15/14	B3		1,579,268
250,000		Citizens Communications Co	9.250	05/15/11	Ba2		258,750
1,530,000		Citizens Communications Co	7.125	03/15/19	Ba2		1,369,350
2,826,000		Citizens Communications Co	9.000	08/15/31	Ba2		2,543,400
2,754,000		Clear Channel Communications, Inc	6.250	03/15/11	Baa3		2,334,015
917,000		Clear Channel Communications, Inc	5.500	09/15/14	Baa3		550,200
1,536,000		CSC Holdings, Inc	7.625	04/01/11	B1		1,505,280
3,000,000	g	CSC Holdings, Inc	8.500	06/15/15	B1		2,947,500
1,860,000	g	DirecTV Holdings LLC	7.625	05/15/16	Ba3		1,832,100
1,700,000		Echostar DBS Corp	6.375	10/01/11	Ba3		1,640,500
750,000		MetroPCS Wireless, Inc	9.250	11/01/14	Caa1		721,875
2,100,000	e,g,o	Newport Television LLC/NTV Finance Corp	13.000	03/15/17	Caa1		1,848,000
5,830,000	d,e	Qwest Communications International, Inc	7.250	02/15/11	Ba3		5,633,237
1,000,000		Qwest Communications International, Inc	7.500	02/15/14	Ba3		950,000
3,720,000		Qwest Corp	8.875	03/15/12	Ba1		3,794,400
8,213,000		Sprint Capital Corp	6.875	11/15/28	Baa3		6,837,323
4,375,000		Sprint Nextel Corp	6.000	12/01/16	Baa3		3,762,500
1,250,000		Videotron Ltee	6.875	01/15/14	Ba2		1,206,250
860,000	g	Videotron Ltee	9.125	04/15/18	Ba2		898,700
3,650,000		Windstream Corp	8.125	08/01/13	Ba3		3,640,875
		TOTAL COMMUNICATIONS					51,315,718
DEPOSITORY INSTITUTIONS - 1.39%
6,750,000		National City Corp	4.000	02/01/11	A3		5,459,062
		TOTAL DEPOSITORY INSTITUTIONS					5,459,062
ELECTRIC, GAS, AND SANITARY SERVICES - 13.37%
1,500,000	e	AES Corp	8.000	10/15/17	B1		1,470,000
250,000		Allied Waste North America, Inc	6.500	11/15/10	B1		250,000
1,000,000	e	Allied Waste North America, Inc	5.750	02/15/11	B1		982,500
500,000		Allied Waste North America, Inc	6.375	04/15/11	B1		495,000
3,200,000	e	Allied Waste North America, Inc	7.875	04/15/13	B1		3,256,000

449

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      3,906,000	e	Dynegy Holdings, Inc	8.750%	02/15/12	B2	$	3,964,590
2,775,000		Edison Mission Energy	7.500	06/15/13	B1		2,754,187
1,275,000		Edison Mission Energy	7.000	05/15/17	B1		1,192,125
4,275,000	g	El Paso Performance-Linked Trust	7.750	07/15/11	Ba3		4,306,772
4,375,000	g	Energy Future Holdings Corp	10.875	11/01/17	B3		4,418,750
3,750,000	g	Intergen NV	9.000	06/30/17	Ba3		3,881,250
2,000,000	g	Ipalco Enterprises, Inc	7.250	04/01/16	Ba1		1,970,000
1,669,600		Midwest Generation LLC	8.560	01/02/16	Baa3		1,723,863
2,315,000		Mirant North America LLC	7.375	12/31/13	B1		2,294,744
2,500,000		NRG Energy, Inc	7.250	02/01/14	B1		2,387,500
2,500,000		NRG Energy, Inc	7.375	02/01/16	B1		2,353,125
250,000		Orion Power Holdings, Inc	12.000	05/01/10	Ba3		270,000
2,600,000		Reliant Energy, Inc	7.625	06/15/14	B1		2,535,000
1,075,000		Reliant Energy, Inc	6.750	12/15/14	Ba3		1,096,500
3,725,000	e	Sabine Pass LNG LP	7.250	11/30/13	B2		3,389,750
3,026,000		Sabine Pass LNG LP	7.500	11/30/16	B2		2,723,400
2,500,000		Sierra Pacific Resources	8.625	03/15/14	Ba3		2,620,787
2,189,000	m	Texas Competive Electric	10.011	10/10/14	Ba3		2,024,825
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					52,360,668
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 1.72%
2,302,000		Freescale Semiconductor, Inc	8.875	12/15/14	B2		1,870,375
3,500,000		L-3 Communications Corp	7.625	06/15/12	Ba3		3,535,000
845,000		Nortel Networks Ltd	10.125	07/15/13	B3		825,987
515,000	g	Nortel Networks Ltd	10.750	07/15/16	B3		509,850
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					6,741,212
FABRICATED METAL PRODUCTS - 0.67%
1,250,000		Ball Corp	6.875	12/15/12	Ba1		1,246,875
1,400,000		Crown Americas LLC	7.625	11/15/13	B1		1,396,500
		TOTAL FABRICATED METAL PRODUCTS					2,643,375
FOOD AND KINDRED PRODUCTS - 0.85%
1,140,000		Constellation Brands, Inc	8.375	12/15/14	Ba3		1,154,250
637,000		Constellation Brands, Inc	7.250	05/15/17	Ba3		595,595
160,000		Cott Beverages USA, Inc	8.000	12/15/11	B3		134,400
1,750,000	e	Smithfield Foods, Inc	7.750	07/01/17	Ba3		1,452,500
		TOTAL FOOD AND KINDRED PRODUCTS					3,336,745
FOOD STORES - 1.42%
4,108,000	e	Stater Brothers Holdings	8.125	06/15/12	B2		4,128,540
426,000		Stater Brothers Holdings	7.750	04/15/15	B2		422,805
1,000,000	g	Susser Holdings LLC	10.625	12/15/13	B3		1,027,500
		TOTAL FOOD STORES					5,578,845
FURNITURE AND FIXTURES - 0.18%
700,000		BE Aerospace, Inc	8.500	07/01/18	Ba3		702,625
		TOTAL FURNITURE AND FIXTURES					702,625
FURNITURE AND HOME FURNISHINGS STORES - 0.89%
3,400,000		GSC Holdings Corp	8.000	10/01/12	Ba1		3,468,000
		TOTAL FURNITURE AND HOME FURNISHINGS STORES					3,468,000

450

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
HEALTH SERVICES - 2.70%
$      1,750,000		DaVita, Inc	6.625%	03/15/13	B1	$	1,680,000
1,850,000		DaVita, Inc	7.250	03/15/15	B2		1,799,125
2,490,000		FMC Finance III S.A.	6.875	07/15/17	Ba2		2,446,425
3,860,000		HCA, Inc	9.125	11/15/14	B2		3,946,850
900,000		HCA, Inc	7.500	11/06/33	Caa1		693,000
		TOTAL HEALTH SERVICES					10,565,400
HOTELS AND OTHER LODGING PLACES - 1.26%
300,000	e	MGM Mirage	8.500	09/15/10	Ba2		296,250
3,250,000	d,e	MGM Mirage	6.750	09/01/12	Ba2		2,916,875
1,100,000	g, i	Seminole Hard Rock Entertainment, Inc	5.276	03/15/14	B1		924,000
1,000,000	e	Station Casinos, Inc	6.000	04/01/12	B2		795,000
		TOTAL HOTELS AND OTHER LODGING PLACES					4,932,125
INDUSTRIAL MACHINERY AND EQUIPMENT - 1.72%
1,950,000		Jefferson Smurfit Corp US	8.250	10/01/12	B3		1,701,375
844,000		Jefferson Smurfit Corp US	7.500	06/01/13	B3		696,300
3,625,000	e	Scientific Games Corp	6.250	12/15/12	Ba3		3,470,937
860,000	g	Scientific Games Corp	7.875	06/15/16	Ba3		855,700
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					6,724,312
INSTRUMENTS AND RELATED PRODUCTS - 0.63%
2,328,000		Biomet, Inc	11.625	10/15/17	Caa1		2,467,680
		TOTAL INSTRUMENTS AND RELATED PRODUCTS					2,467,680
LEGAL SERVICES - 1.07%
1,500,000		FTI Consulting, Inc	7.625	06/15/13	Ba2		1,522,500
2,614,000		FTI Consulting, Inc	7.750	10/01/16	Ba2		2,679,350
		TOTAL LEGAL SERVICES					4,201,850
METAL MINING - 2.32%
3,400,000		Freeport-McMoRan Copper & Gold, Inc	8.250	04/01/15	Ba2		3,574,250
1,705,000		Freeport-McMoRan Copper & Gold, Inc	8.375	04/01/17	Ba2		1,798,775
1,700,000	g,h	Vedanta Resources plc	8.750	01/15/14	Ba1		1,715,378
2,000,000	g,h	Vedanta Resources plc	9.500	07/18/18	Ba1		1,990,000
		TOTAL METAL MINING					9,078,403
MISCELLANEOUS RETAIL - 1.51%
2,894,000		FTD, Inc	7.750	02/15/14	B3		2,901,235
2,974,000		Susser Holdings LLC	10.625	12/15/13	B3		3,018,610
		TOTAL MISCELLANEOUS RETAIL					5,919,845
NONDEPOSITORY INSTITUTIONS - 4.66%
1,700,000		Countrywide Financial Corp	6.250	05/15/16	Aa3		1,513,585
875,000		Ford Motor Credit Co	6.375	11/05/08	B1		859,966
4,000,000		Ford Motor Credit Co	5.800	01/12/09	B1		3,819,428
1,475,000		Ford Motor Credit Co	5.700	01/15/10	B1		1,258,426
1,500,000		Ford Motor Credit Co	9.750	09/15/10	B1		1,307,824
1,900,000		Ford Motor Credit Co	9.875	08/10/11	B1		1,600,877

451

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      1,500,000		Ford Motor Credit Co	7.000%	10/01/13	B1	$	1,104,617
2,750,000		Ford Motor Credit Co	8.000	12/15/16	B1		1,998,595
1,912,500		General Motors Acceptance Corp LLC	6.875	09/15/11	B3		1,374,269
800,000		General Motors Acceptance Corp LLC	6.625	05/15/12	B3		548,814
1,035,000	e	General Motors Acceptance Corp LLC	8.000	11/01/31	B1		673,348
800,000	g	Lender Processing Services, Inc	8.125	07/01/16	Ba2		801,000
1,530,000	e,g	Petroplus Finance Ltd	6.750	05/01/14	B1		1,384,650
		TOTAL NONDEPOSITORY INSTITUTIONS					18,245,399
OIL AND GAS EXTRACTION - 7.98%
2,800,000	g	Atlas Energy Resources LLC	10.750	02/01/18	B3		2,912,000
1,265,000		Chesapeake Energy Corp	7.625	07/15/13	Ba3		1,268,162
1,000,000		Chesapeake Energy Corp	7.500	09/15/13	Ba3		1,000,000
2,500,000		Chesapeake Energy Corp	7.750	01/15/15	Ba3		2,593,750
2,375,000		Chesapeake Energy Corp	6.875	11/15/20	Ba3		2,232,500
1,660,000		Chesapeake Energy Corp	2.750	11/15/35	Ba3		2,983,850
2,276,000	e	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		3,121,094
2,410,000		Denbury Resources, Inc	7.500	04/01/13	B1		2,403,975
1,150,000		Denbury Resources, Inc	7.500	12/15/15	B1		1,144,250
1,575,000		Encore Acquisition Co	6.000	07/15/15	B1		1,480,500
675,000	e	Encore Acquisition Co	7.250	12/01/17	B1		658,125
1,720,000	g	Key Energy Services, Inc	8.375	12/01/14	B1		1,754,400
1,375,000	e	Plains Exploration & Production Co	7.000	03/15/17	B1		1,320,000
1,233,000		Range Resources Corp	7.500	05/15/16	Ba3		1,228,376
1,750,000		Range Resources Corp	7.500	10/01/17	Ba3		1,741,250
250,000		Range Resources Corp	7.250	05/01/18	Ba3		248,125
900,000	g	Southwestern Energy Co	7.500	02/01/18	Ba2		926,019
		TOTAL OIL AND GAS EXTRACTION					31,252,546
PAPER AND ALLIED PRODUCTS - 3.43%
500,000		Abitibi-Consolidated, Inc	8.550	08/01/10	Caa2		295,000
2,985,000	e	Cenveo Corp	7.875	12/01/13	B3		2,492,475
1,100,000	g	Cenveo Corp	10.500	08/15/16	B2		1,089,000
846,000	e	Domtar Corp	7.875	10/15/11	NR		850,230
1,680,000	g	Georgia-Pacific LLC	7.000	01/15/15	Ba3		1,579,200
3,425,000	e	Graphic Packaging International, Inc	8.500	08/15/11	B3		3,313,687
1,260,000		Greif, Inc	6.750	02/01/17	Ba2		1,215,900
2,592,000		International Paper Co	7.400	06/15/14	Baa3		2,587,003
		TOTAL PAPER AND ALLIED PRODUCTS					13,422,495
PERSONAL SERVICES - 0.59%
2,400,000		Mac-Gray Corp	7.625	08/15/15	B3		2,292,000
		TOTAL PERSONAL SERVICES					2,292,000
PETROLEUM AND COAL PRODUCTS - 0.46%
2,000,000		Tesoro Corp	6.500	06/01/17	Ba1		1,795,000
		TOTAL PETROLEUM AND COAL PRODUCTS					1,795,000
PRIMARY METAL INDUSTRIES - 1.97%
2,250,000	g	Everaz Group SA.	8.875	04/24/13	Ba3		2,252,700
1,700,000	i	Noranda Aluminium Acquisition Corp	6.828	05/15/15	B3		1,466,250
2,030,000	i	Novelis, Inc	7.250	02/15/15	B3		1,918,350

452

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      1,000,000	g	Steel Dynamics, Inc	7.375%	11/01/12	Ba2	$	1,000,000
640,000		Steel Dynamics, Inc	6.750	04/01/15	Ba2		612,800
450,000	g	Steel Dynamics, Inc	7.750	04/15/16	Ba2		447,750
		TOTAL PRIMARY METAL INDUSTRIES					7,697,850
PRINTING AND PUBLISHING - 1.70%
640,000		American Achievement Corp	8.250	04/01/12	B2		627,200
2,130,000		Idearc, Inc	8.000	11/15/16	B3		1,339,237
3,635,000	e	Morris Publishing Group LLC	7.000	08/01/13	Caa1		2,217,350
22,000	e,g	RH Donnelley Corp	8.875	10/15/17	B3		13,090
2,701,300	g	RH Donnelley, Inc	11.750	05/15/15	B1		2,444,676
		TOTAL PRINTING AND PUBLISHING					6,641,553
SECURITY AND COMMODITY BROKERS - 1.16%
500,000		Corrections Corp of America	6.250	03/15/13	Ba2		481,250
4,405,000	g	Nuveen Investments, Inc	10.500	11/15/15	B3		4,063,612
		TOTAL SECURITY AND COMMODITY BROKERS					4,544,862
SOCIAL SERVICES - 0.65%
2,780,000	g	Knowledge Learning Corp, Inc	7.750	02/01/15	B2		2,557,600
		TOTAL SOCIAL SERVICES					2,557,600
STONE, CLAY, AND GLASS PRODUCTS - 0.22%
840,000		Owens Brockway Glass Container, Inc	8.250	05/15/13	Ba3		861,000
		TOTAL STONE, CLAY, AND GLASS PRODUCTS					861,000
TRANSPORTATION BY AIR - 0.84%
3,278,000	e	Bristow Group, Inc	7.500	09/15/17	Ba2		3,286,195
		TOTAL TRANSPORTATION BY AIR					3,286,195
TRANSPORTATION EQUIPMENT - 3.18%
1,000,000	e,g	Allison Transmission	11.000	11/01/15	Caa1		895,000
1,250,000		American Railcar Industries, Inc	7.500	03/01/14	B1		1,162,500
2,452,000	g	Bombardier, Inc	6.750	05/01/12	Ba2		2,396,830
1,109,000	e,g	Bombardier, Inc	8.000	11/15/14	Ba2		1,136,725
500,000	e	General Motors Corp	7.200	01/15/11	Caa1		385,000
1,700,000	e	General Motors Corp	7.125	07/15/13	Caa1		1,079,500
650,000		General Motors Corp	7.700	04/15/16	Caa1		394,875
1,475,000	e	General Motors Corp	9.400	07/15/21	Caa1		914,500
2,670,000	e	General Motors Corp	8.375	07/15/33	Caa1		1,581,975
1,061,000	e	Hawker Beechcraft Acquisition Co LLC	9.750	04/01/17	Caa1		1,061,000
966,000		Trinity Industries, Inc	6.500	03/15/14	Baa3		937,020
566,000	g	TRW Automotive, Inc	7.000	03/15/14	Ba3		491,005
		TOTAL TRANSPORTATION EQUIPMENT					12,435,930
TRANSPORTATION SERVICES - 0.17%
750,000		United Rentals North America, Inc	6.500	02/15/12	B1		675,000
		TOTAL TRANSPORTATION SERVICES					675,000
WATER TRANSPORTATION - 1.03%
4,021,000		Gulfmark Offshore, Inc	7.750	07/15/14	B1		4,051,158
		TOTAL WATER TRANSPORTATION					4,051,158

453

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
WHOLESALE TRADE-DURABLE GOODS - 3.46%
$      3,000,000	g	Ace Hardware Corp	9.125%	06/01/16	Ba2	$	2,805,000
3,390,000	g	Baker & Taylor, Inc	11.500	07/01/13	B2		3,034,050
3,650,000	e	IKON Office Solutions, Inc	7.750	09/15/15	Ba3		3,659,125
1,270,000		Interline Brands, Inc	8.125	06/15/14	B3		1,225,550
1,000,000		Russel Metals, Inc	6.375	03/01/14	Ba2		940,000
1,900,000	g	Ryerson, Inc	12.000	11/01/15	B2		1,885,750
		TOTAL WHOLESALE TRADE-DURABLE GOODS					13,549,475
WHOLESALE TRADE-NONDURABLE GOODS - 2.10%
1,620,000	g	Airgas, Inc	7.125	10/01/18	Ba2		1,632,150
1,500,000		AmeriGas Partners LP	7.125	05/20/16	B1		1,391,250
850,000		Inergy LP	6.875	12/15/14	B1		790,500
1,000,000	g	Inergy LP	8.250	03/01/16	B1		985,000
1,750,000		Inergy LP	8.250	03/01/16	B1		1,723,750
1,700,000	e	Supervalu, Inc	7.500	11/15/14	B1		1,702,125
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS					8,224,775
		TOTAL CORPORATE BONDS					381,997,805
		(Cost $401,588,474)
SHORT-TERM INVESTMENTS - 15.57%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 13.52%
52,957,753		State Street Navigator Securities Lending Prime Portfolio					52,957,753
							52,957,753
PRINCIPAL		ISSUER
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 2.05%
$ 8,040,000		Federal Home Loan Bank (FHLB)		07/01/08			8,040,000
							8,040,000
		TOTAL SHORT-TERM INVESTMENTS					60,997,753
		(Cost $60,997,753)
		TOTAL PORTFOLIO - 113.10%					442,995,558
		(Cost $462,586,227)
		OTHER ASSETS & LIABILITIES, NET - (13.10)%					(51,315,769	)
		NET ASSETS - 100.00%				$	391,679,789
		The following abbreviations are used in portfolio descriptions:
		LLC  -Limited Liability Company
		LP     -Limited Partnership
		NR    -Not rated by Moody's
		plc     -Public Limited Company

454

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - High-Yield Fund II
	+	As provided by Moody's Investors Service (unaudited)
	*	Non-income producing.
	d	All or a portion of these securities have been segregated by the custodian to cover securities purchased
		on a delayed delivery basis.
	e	All or a portion of these securities are out on loan.
	g	Security is exempt from registration under Rule 144 (A) of the Securities Act of 1933 and may be
		resold in transactions exempt from registration to qualified institutional buyers.
		At June 30, 2008, the value of these securities amounted to $94,433,203 or 24.11% of net assets.
	h	These securities were purchased on a delayed delivery basis.
	i	Floating rate or variable rate securities reflects the rate at June 30, 2008.
	j	Zero coupon
	m	Indicates a security that has been deemed illiquid.
	n	In default
	o	Payment in Kind Bond
		At June 30, 2008, the net unrealized depreciation on investments was $19,590,669,
		consisting of gross unrealized appreciation of $3,617,431 and gross unrealized depreciation of
		$23,208,100.

455

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
TAX-EXEMPT BOND FUND II
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
LONG -TERM MUNICIPAL BONDS - 98.53%
ALABAMA - 1.73%
$      250,000		City of Birmingham AL	5.125%	01/01/17	A2	$	255,438
150,000		City of Birmingham AL, GO	5.000	12/01/16	Aa3		160,730
2,420,000		Courtland Industrial Development Board	5.000	11/01/13	Baa3		2,368,890
1,785,000		Southeast Alabama Gas District	5.000	06/01/18	A3		1,769,792
		TOTAL ALABAMA					4,554,850
ALASKA - 0.95%
1,410,000		Alaska Railroad Corp	5.250	08/01/16	A1		1,492,654
1,090,000		Northern TOB Securitization Corp	4.625	06/01/23	Baa3		991,726
		TOTAL ALASKA					2,484,380
ARIZONA - 1.85%
490,000		Arizona Health Facilities Authority, ETM	6.375	12/01/37	NR		552,377
1,090,000		Arizona Health Facilities Authority, ETM	5.625	12/01/15	A2		1,173,352
1,000,000		Arizona Water Infrastructure Finance Authority	5.000	10/01/14	Aaa		1,082,270
650,000		City of Scottsdale AZ	5.000	07/01/18	Aa1		704,230
1,260,000		Tucson AZ, COP	5.250	07/01/14	A1		1,362,161
		TOTAL ARIZONA					4,874,390
ARKANSAS - 1.76%
1,600,000		Arkansas Development Finance Authority	5.500	12/01/18	NR		1,783,904
1,185,000		Arkansas Development Finance Authority	5.000	11/01/14	Aaa		1,274,598
650,000		Fayetteville AR	5.000	11/01/16	Aaa		704,236
765,000		North Little Rock AR	6.500	07/01/15	A2		856,632
		TOTAL ARKANSAS					4,619,370
CALIFORNIA - 3.77%
1,000,000	i	California Pollution Control Financing
		Authority, AMT	5.125	11/01/23	NR		876,860
125,000		City of San Bernardino CA, ETM	7.500	05/01/23	Aaa		155,408
20,000	i	Delta Counties Home Mortgage Finance
		Authority, AMT	6.700	06/01/24	A2		20,121
600,000		Long Beach Bond Finance Authority	5.250	11/15/22	A1		572,958
2,000,000		Los Angeles Unified School District, COP	5.000	10/01/17	Aa3		2,113,560
440,000		Metropolitan Water District of Southern
		California	5.750	07/01/21	Aa2		502,867
1,520,000		Palmdale Elementary School District	5.300	08/01/14	Aaa		1,602,536
535,000		Sacramento City Financing Authority	5.400	11/01/20	Aa3		572,252
2,800,000		State of California, GO	5.000	03/01/17	A1		2,958,984
550,000		Vallejo Sanitation & Flood Control District,
		COP	5.000	07/01/19	NR		536,344
		TOTAL CALIFORNIA					9,911,890

456

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
COLORADO - 0.04%
$      120,000	Vista Ridge Metropolitan District, GO	4.125%	12/01/16	A3	$	114,886
	TOTAL COLORADO					114,886
CONNECTICUT - 0.61%
1,360,000	Connecticut Municipal Electric Energy
	Cooperative, ETM	7.000	01/01/15	Aaa		1,596,504
	TOTAL CONNECTICUT					1,596,504
DISTRICT OF COLUMBIA - 1.10%
725,000	District of Columbia, COP	5.250	01/01/14	A2		764,911
2,000,000	District of Columbia, GO	5.000	06/01/16	Aa3		2,123,280
	TOTAL DISTRICT OF COLUMBIA					2,888,191
FLORIDA - 7.06%
1,485,000	Broward County School Board, COP	5.250	07/01/16	Aa3		1,576,491
1,500,000	Broward County School Board, COP	5.250	07/01/15	Aaa		1,612,470
1,150,000	Charlotte County FL	5.000	10/01/14	Aaa		1,233,271
282,000	City of Lakeland FL, ETM	5.750	10/01/19	NR		303,784
1,000,000	County of Brevard FL, GO	5.000	07/01/16	Aa3		1,053,850
1,600,000	First Governmental Financing Commission	5.500	07/01/15	Aa3		1,749,248
2,200,000	Florida Department of Transportation	5.000	07/01/18	Aa2		2,357,300
725,000	Florida State Board of Education	5.000	07/01/18	A2		750,788
1,890,000	Florida State Board of Education	5.000	07/01/14	Aa3		1,980,607
275,000	JEA, ETM	6.800	07/01/12	Aaa		294,145
2,000,000	Lake County School Board, COP	5.250	06/01/17	Aa3		2,131,720
1,275,000	Lake County School Board, COP	5.250	06/01/18	Aa3		1,348,644
100,000	Orange County Health Facilities Authority,
	ETM	5.700	10/01/12	Aaa		109,013
940,000	Orange County Health Facilities Authority,
	ETM	6.250	10/01/10	A2		1,009,381
1,000,000	State of Flordia, GO	5.250	07/01/21	Aa1		1,050,080
	TOTAL FLORIDA					18,560,792
GEORGIA - 3.26%
10,000	Cherokee County Water & Sewer Authority	5.500	08/01/18	Aa3		11,082
270,000	City of Atlanta GA	5.500	11/01/10	Baa1		280,301
300,000	City of Atlanta GA	5.500	11/01/13	Baa1		314,196
2,080,000	City of Atlanta GA	5.500	11/01/14	Baa1		2,181,629
215,000	City of Atlanta GA	5.500	11/01/17	Baa1		223,897
125,000	City of Atlanta GA	5.500	11/01/22	Baa1		130,390
2,000,000	Main Street Natural Gas Inc	5.500	07/15/17	A1		1,956,840
695,000	Metropolitan Atlanta Rapid Transit Authority	6.250	07/01/18	A2		787,053
500,000	Metropolitan Atlanta Rapid Transit Authority	7.000	07/01/11	NR		541,860
480,000	Municipal Electric Authority of Georgia	6.500	01/01/17	A1		551,760
1,390,000	State of Georgia, GO	5.750	08/01/16	Aaa		1,583,196
	TOTAL GEORGIA					8,562,204
ILLINOIS - 3.30%
1,920,000	Chicago Board of Education, GO	5.000	12/01/17	A1		2,038,330
1,030,000	Chicago Board of Education	6.000	01/01/20	A1		1,161,521
540,000	Chicago Metropolitan Water Reclamation
	District-Greater Chicago, ETM	7.000	01/01/11	Aaa		572,908
750,000	Chicago O'Hare International Airport	5.000	01/01/16	Aaa		789,712

457

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     1,000,000		Chicago Public Building Commission Building	5.000%	03/01/15	Aa3	$	1,057,320
400,000		City of Chicago IL, GO	5.000	12/01/15	Aa3		428,068
655,000		Cook County Community Consolidated School
		District No 64, GO	5.500	12/01/14	Aaa		724,476
675,000	i	Illinois Finance Authority	5.500	03/01/14	Ba1		655,607
900,000		Illinois Municipal Electric Agency	5.250	02/01/17	A1		962,091
175,000		Kendall-Grundy Etc Counties High School
		District No 18	5.000	10/01/14	Aaa		188,482
100,000		Madison-Bond Etc Counties Community Unit
		School District No 5, GO	5.000	02/01/19	NR		102,390
		TOTAL ILLINOIS					8,680,905
INDIANA - 6.88%
2,500,000		Avon Community School Building Corp	5.000	07/15/17	Aa3		2,637,475
1,285,000		Center Grove School Building Corp	5.000	07/15/14	NR		1,367,420
1,120,000		Franklin Community Multi-School Building
		Corporation	5.000	07/15/22	NR		1,125,600
1,000,000		Griffith Multi-School Building Corp	5.000	07/15/15	Aaa		1,077,920
1,520,000		Hammond Multi-School Building Corp	5.000	07/15/17	NR		1,609,437
2,120,000		Indiana Bond Bank	5.250	04/01/19	Aa3		2,263,460
600,000		Indiana State Finance Authority Revenue	5.000	02/01/15	Aaa		646,608
1,030,000		Indiana Toll Road Commission, ETM	9.000	01/01/15	Aaa		1,251,955
1,065,000		Indiana Transportation Finance Authority	5.500	12/01/14	Aa2		1,165,216
1,240,000		Indianapolis Local Public Improvement Bond
		Bank	5.000	07/01/16	A1		1,333,794
515,000		New Albany Floyd County School Building
		Corp	5.000	07/15/15	Aaa		555,129
1,615,000		South Bend Community School Building Corp	5.000	01/15/16	NR		1,696,606
1,225,000		South Bend Redevelopment Authority	5.750	08/15/18	A1		1,356,516
		TOTAL INDIANA					18,087,136
KENTUCKY - 0.33%
820,000		Kentucky Turnpike Authority, ETM	6.000	07/01/11	Aaa		863,444
		TOTAL KENTUCKY					863,444
LOUISIANA - 2.06%
1,950,000		City of New Orleans LA, GO	5.500	12/01/21	Baa3		1,901,191
3,020,000		Desoto Parish LA	5.000	10/01/12	Baa3		2,993,635
500,000		St Tammany Parish LA	5.000	04/01/18	NR		523,535
		TOTAL LOUISIANA					5,418,361
MASSACHUSETTS - 0.87%
1,300,000		Commonwealth of Massachusetts, GO	5.000	10/01/27	Aa2		1,377,909
900,000		Massachusetts Housing Finance Agency	4.700	12/01/16	Aa3		902,448
		TOTAL MASSACHUSETTS					2,280,357
MICHIGAN - 6.22%
975,000		Ann Arbor School District, GO	5.000	05/01/15	Aa2		1,045,336
1,405,000		Caledonia Community Schools, GO	5.000	05/01/15	Aa3		1,506,357
2,130,000		Detroit City School District	6.000	05/01/21	Aa3		2,416,357
1,500,000	i	Detroit MI	5.500	07/01/32	A2		1,521,855
1,400,000		Detroit MI	5.000	07/01/14	Aaa		1,478,540
300,000		Forest Hills Public Schools, GO	5.000	05/01/15	Aaa		323,514

458

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
$     1,750,000	L'Anse Creuse Public Schools, GO	5.000%	05/01/15	Aaa	$	1,887,165
1,130,000	Michigan Municipal Bond Authority	5.000	05/01/19	Aa3		1,161,188
460,000	New Haven Community Schools, GO	5.250	05/01/16	Aaa		504,772
1,325,000	State of Michigan	5.500	11/01/16	Aa3		1,477,428
225,000	State of Michigan	5.250	05/15/18	Aaa		247,347
1,395,000	State of Michigan	5.500	11/01/18	Aaa		1,564,255
1,150,000	Wayne County Airport Authority	5.000	12/01/17	A2		1,208,995
	TOTAL MICHIGAN					16,343,109
MINNESOTA - 0.41%
1,000,000	Minnesota Public Facilities Authority	5.000	03/01/16	Aaa		1,081,830
	TOTAL MINNESOTA					1,081,830
MISSISSIPPI - 2.94%
550,000	County of Lowndes Ms	6.800	04/01/22	Baa2		579,634
1,120,000	Harrison County Wasterwater Management
	District, ETM	5.000	02/01/15	Baa1		1,201,077
2,000,000	Mississippi Development Bank Special
	Obligation	5.000	07/01/17	NR		2,129,620
1,090,000	Mississippi Development Bank Special
	Obligation	5.000	11/01/17	Aa3		1,160,992
300,000	State of Mississippi, GO	5.000	12/01/13	Aa3		321,234
2,175,000	State of Mississippi, GO	5.000	12/01/17	Aa3		2,345,868
	TOTAL MISSISSIPPI					7,738,425
MISSOURI - 2.67%
1,965,000	City of Sikeston MO	5.000	06/01/22	A2		1,967,319
1,425,000	Missouri State Board of Public Buildings	5.000	10/01/16	Aa1		1,548,134
1,200,000	Missouri State Environmental Improvement &
	Energy Resources Authority	5.500	07/01/12	Aaa		1,300,380
2,040,000	St Louis Regional Convention & Sports
	Complex Authority	5.250	08/15/14	Aa3		2,195,387
	TOTAL MISSOURI					7,011,220
NEBRASKA - 1.13%
1,000,000	Central Plains Energy Project	5.000	12/01/15	Aa3		970,820
1,000,000	Central Plains Energy Project	5.250	12/01/18	Aa3		967,040
340,000	Nebraska Investment Finance Authority, AMT	5.900	09/01/24	NR		341,333
695,000	Nebraska Investment Finance Authority	5.950	09/01/31	NR		696,369
	TOTAL NEBRASKA					2,975,562
NEVADA - 0.19%
500,000	County of Clark NV	5.300	10/01/11	NR		500,600
	TOTAL NEVADA					500,600
NEW JERSEY - 4.60%
2,200,000	Garden State Preservation Trust	6.375	11/01/15	Aa3		2,548,568
25,000	Garden State Preservation Trust	5.125	11/01/18	Aaa		27,337
1,000,000	New Jersey Economic Development Authority	5.000	09/01/16	A1		1,064,690
690,000	New Jersey Economic Development Authority	5.375	06/15/14	A3		714,999
635,000	New Jersey Environmental Infrastructure Trust	5.250	09/01/21	Aaa		699,148

459

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
$      800,000	New Jersey State Turnpike Authority, ETM	5.700%	05/01/13	Aaa	$	850,480
55,000	New Jersey State Turnpike Authority	6.500	01/01/16	A2		62,367
20,000	New Jersey State Turnpike Authority, ETM	6.500	01/01/16	A3		22,678
240,000	New Jersey State Turnpike Authority, ETM	6.500	01/01/16	A3		272,146
1,500,000	New Jersey Transportation Trust Fund Authority	5.250	12/15/19	A1		1,605,315
1,000,000	New Jersey Transportation Trust Fund Authority	5.250	12/15/20	A1		1,076,810
710,000	New Jersey Transportation Trust Fund Authority	5.500	12/15/17	A1		776,726
260,000	New Jersey Transportation Trust Fund Authority	5.500	12/15/15	Aa3		284,032
1,455,000	Newark Housing Authority	5.250	01/01/24	A2		1,547,320
350,000	State of New Jersey, GO	5.500	07/15/16	Aa3		390,086
120,000	Tobacco Settlement Financing Corp, ETM	6.375	06/01/32	Aaa		134,197
	TOTAL NEW JERSEY					12,076,899
NEW MEXICO - 0.70%
1,495,000	New Mexico Finance Authority	5.000	12/15/14	Aa2		1,614,495
205,000	New Mexico Mortgage Finance Authority, ETM	6.000	07/01/10	Aaa		218,132
	TOTAL NEW MEXICO					1,832,627
NEW YORK - 3.98%
70,000	Dutchess County Resource Recovery Agency,
	AMT	5.000	01/01/10	A2		70,818
310,000	East Rochester Housing Authority	4.200	08/15/17	NR		304,730
195,000	Lackawanna Housing Authority	5.000	09/01/16	NR		204,438
1,775,000	Long Island Power Authority	5.250	12/01/14	A3		1,912,829
710,000	New York State Dormitory Authority	4.150	08/15/17	NR		696,538
1,085,000	New York State Dormitory Authority	5.000	07/01/17	NR		1,121,521
1,000,000	New York State Dormitory Authority	5.000	01/15/16	A1		1,057,810
1,000,000	New York State Dormitory Authority	5.000	07/01/15	A1		1,068,030
700,000	New York State Dormitory Authority	5.000	02/01/18	Aa2		738,115
1,000,000	New York State Dormitory Authority	5.000	07/01/16	Ba2		991,560
370,000	New York State Environmental Facilities Corp	5.000	03/15/14	NR		396,855
200,000	New York State Environmental Facilities Corp	5.250	12/15/18	NR		221,718
330,000	New York State Thruway Authority	5.500	04/01/12	A1		352,836
1,150,000	Tobacco Settlement Financing Authority	5.500	06/01/16	A1		1,192,757
135,000	Westchester county Industrial Development
	Agency, AMT	5.500	07/01/09	Baa3		135,842
	TOTAL NEW YORK					10,466,397
NORTH CAROLINA - 0.38%
40,000	North Carolina Municipal Power Agency No 1
	Catawba	6.000	01/01/11	A2		42,349
915,000	Pitt County NC, ETM	5.250	12/01/21	Aaa		957,593
	TOTAL NORTH CAROLINA					999,942
OHIO - 3.95%
1,000,000	Buckeye Tobacco Settlement Financing
	Authority	5.000	06/01/15	Baa3		954,020
1,820,000	Cincinnati City School District, GO	5.000	12/01/16	Aa3		1,944,816

460

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE	RATING+		VALUE
$      200,000	Dayton OH	6.050%	10/01/09	NR	$	208,286
165,000	Medina County Library District, GO	5.250	12/01/19	Aa3		173,057
100,000	Ohio State Water Development Authority, ETM	6.000	12/01/16	Aaa		109,494
4,000,000	State of Ohio, AMT	4.950	09/01/20	NR		3,797,480
1,550,000	State of Ohio, GO	5.000	05/01/17	Aa1		1,675,023
1,400,000	State of Ohio, GO	5.000	06/15/14	Aa1		1,506,442
	TOTAL OHIO					10,368,618
OKLAHOMA - 0.20%
480,000	Grand River Dam Authority	5.500	06/01/13	Aa3		518,237
	TOTAL OKLAHOMA					518,237
OREGON - 0.17%
415,000	Oregon State Department of Administrative
	Services	5.000	04/01/13	Aaa		442,909
	TOTAL OREGON					442,909
PENNSYLVANIA - 7.00%
240,000	Allegheny County Hospital Development
	Authority	5.300	07/01/26	A2		256,925
1,580,000	Carbon County Hospital Authority	5.400	11/15/14	Aa3		1,649,125
2,060,000	Carbon County Industrial Development
	Authority, AMT	6.650	05/01/10	NR		2,106,474
150,000	City of Philadelphia PA, ETM	7.000	05/15/20	Aaa		176,560
900,000	City of Philadelphia PA	5.000	08/01/16	Aa3		951,390
400,000	City of Philadelphia PA	5.000	07/01/15	Aaa		431,788
1,105,000	City of Pittsburgh PA, GO	5.000	09/01/13	Aaa		1,183,676
545,000	Commonwealth of Pennsylvania, GO	5.000	01/01/16	Aa2		587,673
2,075,000	Delaware Valley Regional Financial Authority	5.500	07/01/12	Aa2		2,203,007
285,000	Pennsylvania Economic Development Financing
	Authority	5.250	12/01/16	NR		258,224
1,030,000	Pennsylvania Economic Development Financing
	Authority, AMT	6.000	11/01/09	A2		1,062,661
1,255,000	Pennsylvania Economic Development Financing
	Authority, AMT	6.500	11/01/16	A2		1,311,500
115,000	Pennsylvania Economic Development Financing
	Authority, AMT	6.000	11/01/11	A2		120,885
280,000	Pennsylvania Economic Development Financing
	Authority, AMT	6.250	11/01/31	A2		281,008
235,000	Pennsylvania Economic Development Financing
	Authority, AMT	6.375	11/01/41	A2		236,039
500,000	Philadelphia Authority for Industrial
	Development	4.250	09/01/19	NR		445,655
2,000,000	Philadelphia School District, GO	5.000	06/01/24	Aaa		2,124,400
1,600,000	Pittsburgh Urban Redevelopment Authority,
	ETM	6.000	09/01/16	Aaa		1,816,640
1,100,000	Pittsburgh Urban Redevelopment Authority	6.500	09/01/13	Baa3		1,189,364
	TOTAL PENNSYLVANIA					18,392,994
PUERTO RICO - 6.97%
560,000	Commonwealth of Puerto Rico, GO	5.000	07/01/13	Baa3		569,643

461

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$     1,200,000		Commonwealth of Puerto Rico, GO	5.250%	07/01/12	Baa3	$	1,234,776
1,000,000		Commonwealth of Puerto Rico, GO	5.250	07/01/16	Baa3		1,031,590
2,015,000		Commonwealth of Puerto Rico, GO	5.500	07/01/15	Baa3		2,107,710
1,250,000		Government Development Bank for Puerto Rico	5.000	12/01/16	Baa3		1,274,012
2,000,000		Puerto Rico Highway & Transportation
		Authority	5.250	07/01/22	Aaa		2,141,600
2,300,000		Puerto Rico Highway & Transportation
		Authority	5.000	07/01/14	Baa3		2,344,091
2,670,000	i	Puerto Rico Public Buildings Authority	5.000	07/01/28	Baa3		2,657,585
5,000		Puerto Rico Public Buildings Authority, ETM	5.500	07/01/13	Baa3		5,447
995,000		Puerto Rico Public Buildings Authority	5.500	07/01/13	Baa3		1,034,103
500,000	i	Puerto Rico Public Finance Corp	5.250	08/01/31	Ba1		501,595
3,405,000	i	Puerto Rico Public Finance Corp	5.750	08/01/27	Ba1		3,428,835
		TOTAL PUERTO RICO					18,330,987
RHODE ISLAND - 1.16%
400,000		Providence Housing Authority	5.000	09/01/17	Aa3		422,236
420,000		Providence Housing Authority	5.000	09/01/18	Aa3		440,093
1,015,000		Rhode Island State & Providence Plantations,
		COP	5.250	10/01/14	A1		1,101,945
1,000,000		Rhode Island State & Providence Plantations,
		COP	5.000	10/01/16	Aaa		1,082,720
		TOTAL RHODE ISLAND					3,046,994
SOUTH CAROLINA - 0.75%
385,000		County of Greenville SC, COP	5.000	04/01/17	Aa3		392,338
150,000		Georgetown County SC	5.700	04/01/14	Baa3		151,888
1,320,000		Scago Educational Facilities Corp for Colleton
		School District	5.000	12/01/16	Aaa		1,420,280
		TOTAL SOUTH CAROLINA					1,964,506
SOUTH DAKOTA - 0.65%
1,000,000		Sioux Falls SD	6.750	11/15/33	NR		1,132,660
500,000		State of South Dakota	6.700	09/01/17	Aaa		583,535
		TOTAL SOUTH DAKOTA					1,716,195
TENNESSEE - 2.26%
100,000		Clarksville Natural Gas Acquisition Corp	5.000	12/15/16	A2		93,998
990,000		Memphis-Shelby County Airport Authority	5.000	09/01/09	Baa2		1,002,761
105,000		Shelby County Health Educational & Housing
		Facilities Board, EMT	5.500	08/15/19	A2		116,789
300,000		Tennessee Energy Acquisition Corp	5.000	09/01/11	Aa3		302,508
4,500,000		Tennessee Energy Acquisition Corp	5.000	09/01/16	Aa3		4,434,570
		TOTAL TENNESSEE					5,950,626
TEXAS - 13.07%
3,000,000		Alliance Airport Authority, AMT	4.850	04/01/21	Baa2		2,688,330
1,170,000		Bexar Metropolitan Water District	5.000	05/01/17	A3		1,214,752
4,265,000		Brazos River Authority	4.900	10/01/15	A2		4,327,013
350,000	i	Brazos River Authority	5.125	05/01/19	Aa3		357,210
785,000		Brazos River Authority	5.125	05/01/19	Aa3		801,171
740,000		Brazos River Authority	5.125	11/01/20	Aa3		757,190

462

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
$      160,000	i	Brazos River Authority	5.375%	04/01/19	Ba1	$	153,493
10,000	i	Brazos River Authority	5.750	05/01/36	Caa1		9,405
180,000	i	Brazos River Authority, AMT	6.300	07/01/32	Caa1		143,100
80,000		Brazos River Authority, AMT	7.700	04/01/33	Caa1		75,054
400,000		Charterwood Municipal Utility District	5.950	05/01/12	NR		401,100
405,000		City of Corpus Christi TX	5.000	07/15/15	Aa3		432,167
260,000		City of Houston TX, ETM	5.800	07/01/10	Aaa		266,978
1,000,000		County of Fort Bend TX, GO	5.000	03/01/16	Aa2		1,070,140
1,500,000		County of Harris TX	5.000	08/15/16	A1		1,607,325
500,000		Guadalupe-Blanco River Authority	5.250	04/15/19	A1		526,265
35,000		Harris County Flood Control District, GO	5.000	10/01/14	Aa1		37,615
2,000,000		Harris County Flood Control District, GO	5.250	10/01/18	Aa1		2,190,700
1,895,000		Humble Independent School District, GO	5.000	02/15/18	Aaa		2,030,890
1,205,000		Lower Colorado River Authority	5.000	05/15/17	A1		1,248,585
1,185,000		Lower Colorado River Authority, ETM	6.000	01/01/17	Aa3		1,359,776
145,000		North Central Texas Health Facility
		Development Corp, ETM	5.500	06/01/21	Aaa		160,216
1,000,000		SA Energy Acquisition Public Facility Corp	5.250	08/01/16	Aa3		992,820
500,000		SA Energy Acquisition Public Facility Corp	5.250	08/01/18	Aa3		491,920
2,000,000		SA Energy Acquisition Public Facility Corp	5.500	08/01/19	Aa3		1,998,260
75,000	i	Sabine River Authority	5.500	05/01/22	Caa1		70,415
1,145,000	i	Sabine River Authority	5.800	07/01/22	Caa1		946,079
1,845,000		Sabine River Authority	6.150	08/01/22	Caa1		1,577,659
2,760,000		State of Texas, AMT, GO, AMT	5.000	08/01/18	Aa1		2,805,788
2,500,000		Texas Municipal Gas Acquisition & Supply
		Corp I	5.250	12/15/17	A1		2,373,850
1,155,000		Texas Public Building Authority	7.125	08/01/11	Aa2		1,227,511
		TOTAL TEXAS					34,342,777
VERMONT - 0.65%
1,695,000		Vermont Housing Finance Agency, AMT	5.500	11/01/21	Aaa		1,695,695
		TOTAL VERMONT					1,695,695
VIRGIN ISLANDS - 0.40%
1,000,000		Virgin Islands Public Finance Authority	5.250	10/01/17	Aaa		1,058,210
		TOTAL VIRGIN ISLANDS					1,058,210
VIRGINIA - 0.47%
150,000		Tobacco Settlement Financing Corp	5.500	06/01/26	Aaa		162,343
1,000,000		Virginia College Building Authority	5.000	09/01/14	Aa1		1,079,560
		TOTAL VIRGINIA					1,241,903
WASHINGTON - 2.01%
75,000		Cowlitz County Public Utility District No 1,
		ETM	5.000	09/01/11	Aa3		79,279
125,000		Cowlitz County Public Utility District No 1	5.000	09/01/11	Aa3		131,209
3,275,000		Port of Seattle WA	5.500	09/01/17	A1		3,598,406
690,000		Port of Seattle WA	5.000	03/01/15	Aa3		737,030
700,000		Washington Economic Development Finance
		Authority	5.000	06/01/16	Aa2		749,497
		TOTAL WASHINGTON					5,295,421

463

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Tax-Exempt Bond Fund II
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE	RATING+		VALUE
WISCONSIN - 0.03%
$      70,000		State of Wisconsin	6.875%	06/01/11	Aa1	$	74,768
		TOTAL WISCONSIN					74,768
		TOTAL LONG-TERM MUNICIPAL BONDS					258,965,111
		(Cost $262,837,235)
SHORT -TERM MUNICIPAL BONDS - 0.20%
NEW JERSEY - 0.20%
525,000	z	Union County Pollution Control Financing
		Authority	2.500	07/01/33	Aaa		525,000
		TOTAL NEW YORK					525,000
		TOTAL SHORT-TERM MUNICIPAL BONDS					525,000
		(Cost $525,000)
		TOTAL PORTFOLIO - 98.73%					259,490,111
		(Cost $263,362,235)
		OTHER ASSETS AND LIABILITIES, NET - 1.27%					3,341,716
		NET ASSETS - 100.00%				$	262,831,827
		The following abbreviations are used in portfolio descriptions:
		AMT  -  Alternative Minimum Tax
		COP   -   Certificate of Participation
		ETM  -   Escrowed to Maturity
		GO     -   General Obligation
		NR     -   Not Rated
	i	Floating rate or variable rate securities reflects the rate in effect as of June 30, 2008.
	z	Variable rate demand note (VRDN)
		At June 30, 2008, the unrealized depreciation on investments was $3,872,124, consisting of gross unrealized appreciation of $1,439,950 and gross unrealized depreciation of $5,312,074.

464

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Inflation-Linked Bond Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
INFLATION-LINKED BOND FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
GOVERNMENT BONDS - 98.90%
U.S. TREASURY SECURITIES - 98.90%
$      18,025,450	k	United States Treasury Inflation Indexed Bonds	4.250%	01/15/10	$	19,332,296
42,186,093	k	United States Treasury Inflation Indexed Bonds	0.875	04/15/10		42,914,478
18,214,602	k	United States Treasury Inflation Indexed Bonds	3.500	01/15/11		19,828,306
26,143,315	k	United States Treasury Inflation Indexed Bonds	2.375	04/15/11		27,701,692
9,973,069	k	United States Treasury Inflation Indexed Bonds	3.375	01/15/12		11,009,331
20,533,736	k	United States Treasury Inflation Indexed Bonds	2.000	04/15/12		21,663,091
34,504,576	k	United States Treasury Inflation Indexed Bonds	3.000	07/15/12		37,893,030
11,228,458	k	United States Treasury Inflation Indexed Bonds	0.625	04/15/13		11,187,227
32,293,305	k	United States Treasury Inflation Indexed Bonds	1.875	07/15/13		34,140,095
32,994,440	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/14		35,028,250
30,354,681	k	United States Treasury Inflation Indexed Bonds	2.000	07/15/14		32,235,245
29,804,849	k	United States Treasury Inflation Indexed Bonds	1.625	01/15/15		30,754,415
25,893,724	k	United States Treasury Inflation Indexed Bonds	1.875	07/15/15		27,113,552
25,598,063	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/16		26,961,954
24,987,402	k	United States Treasury Inflation Indexed Bonds	2.500	07/15/16		27,302,635
22,818,482	k	United States Treasury Inflation Indexed Bonds	2.375	01/15/17		24,699,227
20,104,220	k	United States Treasury Inflation Indexed Bonds	2.625	07/15/17		22,205,734
19,991,790	k	United States Treasury Inflation Indexed Bonds	1.625	01/15/18		20,308,840
39,515,801	k	United States Treasury Inflation Indexed Bonds	2.375	01/15/25		41,442,198
25,457,343	k	United States Treasury Inflation Indexed Bonds	2.000	01/15/26		25,240,549
21,008,979	k	United States Treasury Inflation Indexed Bonds	2.375	01/15/27		22,024,952
11,303,050	k	United States Treasury Inflation Indexed Bonds	1.750	01/15/28		10,753,790
26,505,563	k	United States Treasury Inflation Indexed Bonds	3.625	04/15/28		33,076,055
30,278,202	k	United States Treasury Inflation Indexed Bonds	3.875	04/15/29		39,345,101
8,010,398	k	United States Treasury Inflation Indexed Bonds	3.375	04/15/32		10,079,957
		TOTAL U.S. TREASURY SECURITIES				654,242,000
		TOTAL GOVERNMENT BONDS				654,242,000
		(Cost $630,021,698)
SHORT-TERM INVESTMENTS - 0.37%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.37%
2,450,000		Federal Home Loan Bank (FHLB)		07/01/08		2,450,000
		TOTAL SHORT-TERM INVESTMENTS				2,450,000
		(Cost $2,450,000)
		TOTAL PORTFOLIO - 99.27%				656,692,000
		(Cost $632,471,698)
		OTHER ASSETS & LIABILITIES, NET - 0.73%				4,844,407
		NET ASSETS - 100.00%			$	661,536,407
		The following abbreviations are used in portfolio descriptions:
		LLC  Limited Liability Company
		PLC  Public Limited Company
	k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the
		Consumer Price Index.
		At June 30, 2008, the unrealized appreciation on investments was $24,220,302 consisting of
		gross unrealized appreciation of $24,926,822 and gross unrealized depreciation of $706,520.

465

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS
MONEY MARKET FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
SHORT-TERM INVESTMENTS - 100.16%
BANK ACCEPTANCES - 2.52%
$      2,263,000	JPMorgan Chase Bank NA	0.000%	08/18/08	$	2,255,698
10,000,000	JPMorgan Chase Bank NA	0.000	09/04/08		9,957,569
1,542,000	JPMorgan Chase Bank NA	0.000	10/06/08		1,531,197
4,463,000	JPMorgan Chase Bank NA	0.000	07/07/08		4,460,324
1,246,000	JPMorgan Chase Bank NA	0.000	07/14/08		1,244,974
1,211,000	JPMorgan Chase Bank NA	0.000	07/17/08		1,209,789
1,926,000	JPMorgan Chase Bank NA	0.000	07/28/08		1,922,721
1,216,000	JPMorgan Chase Bank NA	0.000	09/03/08		1,211,244
10,000,000	Wachovia Bank NA	0.000	07/08/08		9,995,528
4,500,000	Wachovia Bank NA	0.000	10/21/08		4,467,520
	TOTAL BANK ACCEPTANCES				38,256,564
BANK NOTES - 0.66%
10,000,000	Wells Fargo Bank NA	2.470	08/14/08		10,000,000
	TOTAL BANK NOTES				10,000,000
CERTIFICATES OF DEPOSIT - 13.23%
10,000,000	Abbey National Treasury	2.550	09/15/08		10,000,419
10,000,000	Abbey National Treasury	2.600	08/11/08		10,000,226
5,000,000	American Express Bank FSB	2.820	09/30/08		5,000,251
15,000,000	American Express Bank FSB	2.690	08/21/08		15,000,422
4,700,000	American Express Bank FSB	2.900	07/21/08		4,700,052
9,000,000	American Express Bank FSB	4.080	07/14/08		9,000,063
5,000,000	American Express Centurion Bank	2.720	08/27/08		5,000,157
5,000,000	American Express Centurion Bank	2.640	08/28/08		5,000,160
5,000,000	Banco Bilbao Vizcaya Argentaria S.A.	2.945	07/23/08		5,000,015
10,000,000	Bank of Montreal	2.800	09/24/08		10,000,469
10,000,000	Bank of Nova Scotia	2.550	08/13/08		10,000,000
10,000,000	Bank of Nova Scotia	2.570	09/18/08		10,000,000
5,000,000	Calyon	2.590	09/05/08		5,000,182
5,000,000	Calyon	2.760	09/25/08		5,000,237
10,000,000	Deutsche Bank AG.	2.720	07/31/08		10,000,000
5,000,000	Dexia Credit Local S.A.	2.640	09/02/08		5,000,174
5,000,000	Dexia Credit Local S.A.	2.655	08/26/08		5,000,116
5,000,000	Lloyds Bank plc	2.720	10/02/08		5,000,270
10,000,000	Rabobank USA Financial Corp	2.680	09/18/08		10,000,000
10,000,000	Royal Bank of Canada	2.720	09/23/08		10,000,463
2,700,000	Royal Bank of Canada	5.290	02/02/09		2,742,619
4,000,000	Societe Generale North America, Inc	2.850	07/01/08		4,000,000
2,080,000	Societe Generale North America, Inc	2.920	07/28/08		2,080,000
10,000,000	Toronto Dominion Bank	2.500	08/14/08		10,000,000
5,000,000	Toronto Dominion Bank	2.650	07/28/08		5,000,000
10,000,000	Toronto Dominion Bank	2.650	08/05/08		10,000,000
5,000,000	Toronto Dominion Bank	2.670	10/09/08		4,998,751
3,000,000	Toronto Dominion Bank	2.720	10/20/08		3,000,000

466

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
$      5,000,000	Toronto Dominion Bank	2.950%	08/27/08	$	5,000,000
	TOTAL CERTIFICATES OF DEPOSIT				200,525,046
COMMERCIAL PAPER - 63.71%
3,500,000	Abbey National LLC		09/15/08		3,480,493
10,000,000	Abbey National LLC		10/31/08		9,904,772
8,000,000	American Honda Finance Corp		08/26/08		7,971,129
10,000,000	American Honda Finance Corp		09/04/08		9,957,208
10,000,000	American Honda Finance Corp		07/02/08		9,999,408
7,000,000	American Honda Finance Corp		07/14/08		6,994,793
8,000,000	American Honda Finance Corp		08/08/08		7,982,267
6,786,000	American Honda Finance Corp		08/14/08		6,767,753
2,378,000	Bank of America Corp		07/07/08		2,377,088
7,000,000	Bank of America Corp		07/24/08		6,987,433
7,000,000	Bank of America Corp		08/01/08		6,982,489
2,000,000	Bank of America Corp		08/11/08		1,994,169
12,907,000	Bank of America Corp		08/26/08		12,855,599
8,000,000	Bank of America Corp		09/09/08		7,958,109
5,000,000	Bank of Nova Scotia		08/28/08		4,979,700
10,000,000	Bank of Nova Scotia		10/03/08		9,928,456
2,000,000	Bank of Nova Scotia		11/13/08		1,979,375
3,000,000	Bank of Scotland plc		07/07/08		2,998,700
1,750,000	Bank of Scotland plc		07/11/08		1,748,736
5,900,000	Bank of Scotland plc		07/14/08		5,894,524
3,800,000	Bank of Scotland plc		08/06/08		3,789,930
4,400,000	Barclays U.S. Funding LLC		09/29/08		4,368,595
5,000,000	Barclays U.S. Funding LLC		10/06/08		4,963,288
5,000,000	Barclays U.S. Funding LLC		11/18/08		4,941,667
3,300,000	Cafco LLC		07/23/08		3,294,515
2,930,000	Calyon North America, Inc		09/10/08		2,914,744
5,000,000	Canadian Imperial Holding, Inc		09/19/08		4,968,556
3,000,000	Canadian Wheat Board		07/11/08		2,998,208
3,625,000	Caterpillar Financial Services Corp		07/24/08		3,619,951
8,000,000	Ciesco LLC		07/03/08		7,998,876
2,500,000	Ciesco LLC		07/16/08		2,497,167
3,700,000	Ciesco LLC		07/18/08		3,695,300
3,000,000	Ciesco LLC		07/29/08		2,993,817
5,000,000	Citigroup Funding, Inc		08/11/08		4,985,650
5,000,000	Citigroup Funding, Inc		08/14/08		4,985,028
7,000,000	Citigroup Funding, Inc		07/15/08		6,993,031
10,000,000	Citigroup Funding, Inc		07/18/08		9,986,778
5,000,000	Citigroup Funding, Inc		07/23/08		4,992,514
12,000,000	Citigroup Funding, Inc		08/20/08		11,956,667
5,000,000	Coca-Cola Co		07/09/08		4,997,600
5,000,000	Danske Corp		07/11/08		4,996,319
5,000,000	Danske Corp		07/15/08		4,995,236
8,485,000	Danske Corp		07/21/08		8,473,072
5,795,000	Danske Corp		07/22/08		5,785,129
1,000,000	Danske Corp		08/04/08		997,601
5,000,000	Dexia Delaware LLC		07/18/08		4,993,413
2,200,000	Dexia Delaware LLC		08/06/08		2,194,082
13,420,000	Dexia Delaware LLC		08/12/08		13,378,316
4,260,000	Dexia Delaware LLC		09/25/08		4,231,505

467

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
		MATURITY
PRINCIPAL	ISSUER	DATE		VALUE
$      5,000,000	Edison Asset Securitization LLC	09/25/08	$	4,968,467
8,000,000	Edison Asset Securitization LLC	07/15/08		7,991,289
8,000,000	Edison Asset Securitization LLC	07/29/08		7,982,391
1,868,000	Edison Asset Securitization LLC	08/06/08		1,862,826
3,775,000	Edison Asset Securitization LLC	10/15/08		3,745,878
13,000,000	General Electric Capital Corp	07/02/08		12,998,996
8,000,000	General Electric Capital Corp	07/16/08		7,991,767
2,851,000	General Electric Capital Corp	09/11/08		2,836,346
5,595,000	General Electric Capital Corp	10/21/08		5,549,395
5,000,000	General Electric Capital Corp	10/27/08		4,957,881
5,000,000	General Electric Capital Corp	10/30/08		4,956,978
10,000,000	General Electric Co	09/02/08		9,958,350
8,000,000	Govco LLC	07/08/08		7,995,613
2,481,000	Govco LLC	07/22/08		2,476,731
750,000	Govco LLC	08/25/08		746,986
4,485,000	Govco LLC	09/05/08		4,463,622
3,000,000	Govco LLC	09/08/08		2,984,475
10,000,000	Govco LLC	09/25/08		9,934,783
6,500,000	Govco LLC	11/17/08		6,430,983
5,000,000	Govco LLC	12/11/08		4,930,951
10,000,000	Govco LLC	12/17/08		9,856,819
10,000,000	HSBC Finance Corp	09/03/08		9,955,200
6,000,000	HSBC Finance Corp	09/08/08		5,971,250
8,000,000	HSBC Finance Corp	07/07/08		7,996,667
5,500,000	HSBC Finance Corp	07/09/08		5,496,944
10,000,000	HSBC Finance Corp	07/10/08		9,993,625
5,000,000	HSBC Finance Corp	09/16/08		4,973,264
10,000,000	ING US Funding LLC	07/01/08		10,000,000
10,000,000	ING US Funding LLC	07/17/08		9,988,289
1,280,000	ING US Funding LLC	07/28/08		1,277,293
2,450,000	ING US Funding LLC	08/14/08		2,442,274
2,000,000	JPMorgan Chase & Co	07/03/08		1,999,697
10,000,000	JPMorgan Chase & Co	07/21/08		9,985,556
6,000,000	JPMorgan Chase & Co	07/24/08		5,990,033
2,000,000	JPMorgan Chase & Co	08/04/08		1,995,278
1,000,000	JPMorgan Chase & Co	08/05/08		997,521
3,000,000	JPMorgan Chase & Co	08/18/08		2,988,600
4,620,000	JPMorgan Chase & Co	08/25/08		4,603,413
5,000,000	Kitty Hawk Funding Corp	07/17/08		4,993,933
1,420,000	Kitty Hawk Funding Corp	07/24/08		1,417,641
2,225,000	Kitty Hawk Funding Corp	08/13/08		2,217,692
5,000,000	Kitty Hawk Funding Corp	09/09/08		4,973,556
5,000,000	Kitty Hawk Funding Corp	10/02/08		4,963,575
2,500,000	Lloyds Bank plc	08/04/08		2,493,932
1,000,000	Lloyds Bank plc	07/23/08		998,381
5,000,000	Lloyds Bank plc	08/21/08		4,981,867
7,000,000	Lloyds Bank plc	10/17/08		6,946,450
5,000,000	Nestle Capital Corp	07/08/08		4,997,910
1,000,000	Nestle Capital Corp	03/10/09		983,270
8,000,000	Nestle Capital Corp	03/12/09		7,866,227
2,000,000	Nestle Capital Corp	07/07/08		1,999,283
15,985,000	Nestle Capital Corp	07/16/08		15,970,856
4,300,000	Nestle Capital Corp	08/07/08		4,290,760

468

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
		MATURITY
PRINCIPAL	ISSUER	DATE		VALUE
$      4,440,000	Paccar Financial Corp	07/09/08	$	4,437,938
2,105,000	Paccar Financial Corp	07/11/08		2,103,778
5,000,000	Paccar Financial Corp	07/14/08		4,996,226
2,965,000	Paccar Financial Corp	08/08/08		2,958,678
4,520,000	Park Avenue Rec Corp	07/01/08		4,520,000
1,050,000	Pfizer, Inc	08/06/08		1,047,879
5,000,000	Pfizer, Inc	08/25/08		4,980,597
4,520,000	Pfizer, Inc	08/28/08		4,501,430
5,000,000	Private Export Funding Corp	07/01/08		5,000,000
3,000,000	Private Export Funding Corp	07/03/08		2,999,558
5,000,000	Private Export Funding Corp	07/22/08		4,993,613
3,160,000	Private Export Funding Corp	09/03/08		3,148,484
2,000,000	Private Export Funding Corp	09/04/08		1,992,019
10,000,000	Private Export Funding Corp	10/07/08		9,939,022
5,000,000	Procter & Gamble International	08/05/08		4,989,354
5,000,000	Procter & Gamble International	08/12/08		4,986,992
5,815,000	Procter & Gamble International	08/27/08		5,794,560
1,000,000	Rabobank USA Financial Corp	07/07/08		999,588
5,000,000	Rabobank USA Financial Corp	08/12/08		4,985,475
5,000,000	Rabobank USA Financial Corp	09/15/08		4,973,611
4,000,000	Rabobank USA Financial Corp	09/30/08		3,973,104
4,500,000	Rabobank USA Financial Corp	08/08/08		4,488,149
9,000,000	Ranger Funding Co LLC	07/10/08		8,993,588
4,368,000	Ranger Funding Co LLC	07/14/08		4,363,818
5,000,000	Ranger Funding Co LLC	07/23/08		4,992,269
1,722,000	Ranger Funding Co LLC	07/25/08		1,718,671
10,000,000	Ranger Funding Co LLC	08/19/08		9,964,135
5,000,000	Ranger Funding Co LLC	08/20/08		4,981,736
5,000,000	Ranger Funding Co LLC	09/08/08		4,973,838
5,000,000	Ranger Funding Co LLC	09/17/08		4,970,858
5,000,000	Ranger Funding Co LLC	09/24/08		4,967,535
5,400,000	Royal Bank of Canada	09/03/08		5,375,424
5,455,000	Royal Bank of Canada	09/05/08		5,429,448
5,700,000	Royal Bank of Scotland	07/09/08		5,696,631
4,325,000	Societe Generale North America, Inc	07/28/08		4,316,728
4,000,000	Societe Generale North America, Inc	08/04/08		3,989,233
1,100,000	Societe Generale North America, Inc	08/06/08		1,096,975
6,500,000	Svensk Exportkredit AB	07/22/08		6,491,914
5,000,000	Svensk Exportkredit AB	08/21/08		4,984,417
11,200,000	Svensk Exportkredit AB	08/22/08		11,164,894
5,000,000	Svensk Exportkredit AB	07/21/08		4,993,833
5,000,000	Svensk Exportkredit AB	09/29/08		4,970,250
5,000,000	Svensk Exportkredit AB	10/30/08		4,958,322
5,000,000	Toronto Dominion Holding	08/15/08		4,983,875
5,000,000	Toronto Dominion Holding	10/02/08		4,965,835
5,000,000	Toronto Dominion Holding	11/06/08		4,951,467
10,000,000	Toyota Motor Credit Corp	09/26/08		9,938,375
5,000,000	Toyota Motor Credit Corp	10/22/08		4,957,625
5,000,000	Toyota Motor Credit Corp	07/15/08		4,995,625
4,800,000	Toyota Motor Credit Corp	08/04/08		4,789,573
9,000,000	Toyota Motor Credit Corp	08/29/08		8,966,813
5,000,000	Toyota Motor Credit Corp	10/28/08		4,958,185
10,000,000	Toyota Motor Credit Corp	10/29/08		9,916,333

469

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
			MATURITY
PRINCIPAL	ISSUER	RATE	DATE		VALUE
$      1,000,000	UBS Finance (Delaware) LLC		08/22/08	$	994,511
3,075,000	Unilever Capital Corp		07/03/08		3,074,638
5,820,000	Unilever Capital Corp		07/17/08		5,814,309
5,250,000	Unilever Capital Corp		10/01/08		5,215,788
5,000,000	Unilever Capital Corp		10/20/08		4,958,992
4,000,000	Unilever Capital Corp		10/27/08		3,966,304
5,000,000	Unilever Capital Corp		12/01/08		4,945,813
3,000,000	Variable Funding Capital Corp		07/25/08		2,994,300
7,000,000	Wells Fargo & Co		07/08/08		6,997,087
6,640,000	Wells Fargo & Co		07/09/08		6,636,916
10,000,000	Wells Fargo & Co		07/22/08		9,987,808
6,000,000	Wells Fargo & Co		07/25/08		5,991,640
5,000,000	Wells Fargo & Co		08/12/08		4,986,583
10,000,000	Wells Fargo & Co		08/13/08		9,972,528
4,000,000	Yorktown Capital LLC		07/02/08		3,999,713
1,650,000	Yorktown Capital LLC		07/03/08		1,649,753
1,078,000	Yorktown Capital LLC		07/07/08		1,077,515
3,000,000	Yorktown Capital LLC		07/14/08		2,997,162
10,000,000	Yorktown Capital LLC		07/21/08		9,985,111
3,000,000	Yorktown Capital LLC		08/07/08		2,991,675
7,407,000	Yorktown Capital LLC		08/19/08		7,380,799
2,040,000	Yorktown Capital LLC		09/05/08		2,030,276
1,058,000	Yorktown Capital LLC		09/08/08		1,052,667
5,606,000	Yorktown Capital LLC		09/11/08		5,574,831
1,951,000	Yorktown Capital LLC		09/16/08		1,940,025
5,000,000	Yorktown Capital LLC		09/19/08		4,970,111
	TOTAL COMMERCIAL PAPER				965,915,653
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 16.81%
245,000	Federal Home Loan Bank (FHLB)		07/23/08		244,667
2,100,000	FHLB		10/15/08		2,084,851
5,000,000	FHLB		12/03/08		4,945,750
10,000,000	FHLB	2.550%	09/12/08		10,008,094
519,000	FHLB		08/01/08		517,771
3,460,000	FHLB		08/13/08		3,450,187
5,000,000	FHLB		08/15/08		4,985,813
5,000,000	FHLB		08/27/08		4,981,396
1,000,000	FHLB		09/02/08		995,888
5,000,000	FHLB		09/05/08		4,978,183
450,000	FHLB		09/10/08		447,840
5,180,000	FHLB		09/12/08		5,155,211
3,537,000	FHLB		09/26/08		3,516,314
2,575,000	FHLB		10/24/08		2,554,650
2,995,000	FHLB		11/07/08		2,967,955
5,800,000	FHLB	5.250	01/16/09		5,877,157
41,115,000	Federal Home Loan Mortgage Corp (FHLMC)		09/22/08		40,911,195
10,000,000	FHLMC		09/29/08		9,939,500
8,215,000	FHLMC		07/07/08		8,212,138
10,000,000	FHLMC		07/11/08		9,994,167
559,000	FHLMC		07/21/08		558,152
5,030,000	FHLMC		07/25/08		5,023,796
1,370,000	FHLMC		07/28/08		1,367,883
10,000,000	FHLMC		08/06/08		9,979,400

470

TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - Money Market Fund
				MATURITY
PRINCIPAL		ISSUER	RATE	DATE		VALUE
$      5,000,000		FHLMC		08/07/08	$	4,989,619
3,373,000		FHLMC		08/11/08		3,365,010
5,000,000		FHLMC		08/15/08		4,986,719
5,000,000		FHLMC		08/22/08		4,985,014
3,843,000		FHLMC		09/19/08		3,825,280
2,230,000		FHLMC		09/25/08		2,218,706
3,228,000		FHLMC		11/05/08		3,201,927
1,540,000		FHLMC		11/10/08		1,529,384
10,000,000		Federal National Mortgage Association (FNMA)		08/18/08		9,973,067
4,410,000		FNMA		09/17/08		4,386,810
3,290,000		FNMA		09/30/08		3,271,454
5,685,000		FNMA		10/06/08		5,648,543
2,440,000		FNMA		12/10/08		2,412,407
6,000,000		FNMA		07/25/08		5,991,160
10,000,000		FNMA		07/30/08		9,983,889
750,000		FNMA		07/31/08		748,713
6,860,000		FNMA		08/01/08		6,848,625
1,077,000		FNMA		08/27/08		1,073,436
5,000,000		FNMA		08/28/08		4,981,714
479,000		FNMA		08/29/08		477,014
7,595,000		FNMA		09/02/08		7,566,823
2,965,000		FNMA		10/08/08		2,945,349
15,140,000		FNMA		10/22/08		15,024,044
550,000		FNMA		11/05/08		544,955
100,000		FNMA		11/21/08		98,968
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES				254,776,588
VARIABLE NOTES - 3.23% ( i )
10,000,000	i	American Express Centurion Bank	2.709%	10/14/08		10,000,000
5,000,000	i	Bank of Scotland plc	2.655	11/12/08		5,000,000
5,000,000	i	Deutsche Bank AG.	2.240	11/03/08		5,000,000
10,000,000	i	Federal Farm Credit Bank (FFCB)	2.090	03/12/09		10,000,000
5,000,000	i	Federal Home Loan Bank (FHLB)	2.070	11/20/08		5,000,000
5,000,000	i	Toyota Motor Credit Corp	2.410	07/10/09		5,000,000
9,000,000	i	Wachovia Bank NA	2.990	11/25/08		9,000,000
		TOTAL VARIABLE NOTES				49,000,000
		TOTAL SHORT-TERM INVESTMENTS				1,518,473,851
		(Cost $1,518,473,851)
		TOTAL PORTFOLIO - 100.16%				1,518,473,851
		(Cost $1,518,473,851)
		OTHER ASSETS & LIABILITIES, NET - (0.16%)				(2,379,334	)
		NET ASSETS - 100.00%			$	1,516,094,517
		The following abbreviations are used in portfolio descriptions:
		LLC  -   Limited Liability Company
		plc    -   Public Limited Company
	i	Floating rate or variable rate securities reflects the rate at June 30, 2008.

471

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. Ten Funds, known as the TIAA-CREF Lifecycle Funds, are presented in a separate shareholder report. The Funds offer their shares, without a sales load, through their principal underwriter, Teachers Personal Investors Services, Inc. (“TPI”), which is a wholly-owned indirect subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”). TPIS is registered with the Commission as a broker-dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”), formerly, National Association of Securities Dealers. 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 for the Funds. The Funds offer up to three share classes, although any one Fund may not necessarily offer all three classes. The Funds may offer Institutional, Retirement and Retail classes of shares. Each class differs by the allocation of class-specific expenses and voting rights in matters affecting a single class.

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, quality and 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 registered investment companies are valued at net asset value on the valuation date. 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). 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 and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. If events materially affecting the value of foreign securities occur between the time when the exchange on which they are traded closes and the time when the Fund’s net assets are calculated, such securities may be valued at fair value in accordance with procedures approved by the Board of Trustees. 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 using procedures approved by the Board of Trustees.

Accounting for investments and investment income: Securities transactions and investments in underlying funds are accounted for as of the trade date. Interest income is recorded as earned and includes accretion of discounts and amortization of premiums using the effective yield method. Dividend income is recorded on the ex-dividend date or, for certain foreign securities, as soon thereafter as the Funds are informed of the ex-dividend date. Dividends and distributions from underlying funds are recorded on the ex-dividend date. Realized gains and losses on securities transactions are based upon the specific identification method.

Distributions received from Real Estate Investment Trusts (“REITs”) are recorded on the ex-dividend date. Each REIT reports annually the tax character of its distributions. Dividend income, realized gains and unrealized appreciation (depreciation) reflect the amounts of taxable income, capital gain and return of capital reported by each REIT, and management’s estimates of such amounts for REIT distributions for which actual information has not been reported.

Income and expenses of the Funds are allocated on a pro rata basis to each class of shares, except for Service Agreement Fees, Distribution Fees and Transfer Agency Fees and Expenses, which are unique to each class of shares.

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 identical (e.g. 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

472

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. In addition, the Funds may receive compensation that is recorded as deferred income and amortized to income over the roll period. The counterparty receives all principal and interest payments, including prepayments, made in respect of a security subject to such a contract while it is the holder. 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.

Cash: The Funds may hold cash in their account with the custodian. The Funds, throughout the period, may have a cash overdraft balance. A fee is incurred on this overdraft.

Foreign currency transactions and translation: Portfolio investments and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the end of the period. Purchases and sales of securities, income receipts and expense payments made in foreign currencies are translated into U.S. dollars at the exchange rates prevailing on the respective dates of the transactions. The effects of changes in foreign currency exchange rates are included in the net realized and unrealized gains and losses on investments. Net realized gains and losses on foreign currency transactions include maturities of forward foreign currency contracts, disposition of foreign currencies, and currency gains and losses between the accrual and receipt dates of portfolio investment income and between the trade and settlement dates of portfolio investment transactions.

Forward foreign currency contracts: The Funds may use forward foreign currency contracts to facilitate transactions in securities denominated in foreign currencies. Such contracts are entered into directly with a counterparty and are “marked-to-market” at the end of each day’s trading. The Funds are also exposed to credit risk associated with counterparty nonperformance on these forward foreign currency contracts which is typically limited to the unrealized gain on each open contract.

Forward foreign currency contracts will be used primarily to protect the Funds from adverse currency movements and will generally not be entered into for terms greater than one year. The use of forward foreign currency contracts involves the risk that anticipated currency movements will not be accurately predicted. A forward foreign currency contract would limit the risk of loss due to a decline in the value of a particular currency; however, it also would limit any potential gain that might result should the value of the currency increase instead of decrease. These contracts may involve market risk in excess of the unrealized gain or loss reflected in the Statements of Assets and Liabilities. There were no open forward foreign currency contracts for the period ended June 30, 2008.

Securities lending: The Funds may lend portfolio securities to qualified financial institutions and brokers and dealers. By lending such securities, the Funds attempt to increase their net investment income through the receipt of interest (after rebates and fees) on collateral. 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. These loans are secured by collateral equal to at least 102% of the current market value of the securities loaned for U.S. securities and 105% of the current market value of securities loaned for foreign securities. All cash collateral is invested in the State Street Navigator Securities Lending Prime Portfolio.

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.

Risks of investments in futures contracts include the possible adverse movement of the securities or indices underlying the contracts, the possibility that there may not be a liquid secondary market for the contracts, that a change in the value of the contract may not correlate with a change in the value of the underlying securities, or that the counterparty to a contract may default on its obligation to perform.

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; interest income is not accrued until settlement 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. Credit risks exist on these commitments to the extent of any unrealized gains on the underlying securities purchased and any

473

unrealized losses on the underlying securities sold. Market risk exists on these commitments to the same extent as if the securities were owned on a settled basis and gains and losses are recorded and reported in the same manner. In addition to the normal credit and market risks, transactions with delayed settlement dates may expose the Funds to greater risk that such transactions may not be consummated.

Treasury Inflation-Protected Securities: The Funds may 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. The adjustments for interest income due to inflation are reflected in interest income in the semi-annual Statements of Operations.

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.

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 tothe 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 measuring 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. Various inputs are used in determining the value of an Enhanced Index 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 Funds’ investments as of June 30, 2008:

474

	Investments in Securities		Other Financial Instruments*
Enhanced International Equity Index
Level 1	$	667,032	$	—
Level 2		176,967,495		—
Level 3		—		—
Total	$	177,634,527	$	—
Enhanced Large-Cap Growth Index
Level 1	$	143,092,213	$	—
Level 2		330,000		—
Level 3		—		—
Total	$	143,422,213	$	—
Enhanced Large-Cap Value Index
Level 1	$	106,489,706	$	—
Level 2		440,000		—
Level 3		—		—
Total	$	106,929,706	$	—

*       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.

475

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 Funds are indemnified against certain liabilities that may arise out of their duties to the 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 March 2008, FASB issued Statement of Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities – an amendment of FASB Statement No. 133” (“SFAS 161”). SFAS 161 requires enhanced disclosures about a Fund’s derivative and hedging activities thereby improving the transparency of the financial reporting. SFAS 161 is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008. Management is currently evaluating the impact the adoption of SFAS 161 will have on the financial statements.

476

TIAA-CREF LIFECYCLE FUNDS - Lifecycle 2010 Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2010 FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 100.11% (a)
12,187,943	TIAA-CREF Institutional Bond Fund	$	120,660,635
2,378,480	TIAA-CREF Institutional Enhanced International Equity Index Fund		20,621,425
2,034,333	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		18,573,461
1,617,355	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		13,909,249
499,730	TIAA-CREF Institutional Growth & Income Fund		4,507,569
5,791,061	TIAA-CREF Institutional Growth Equity Fund		46,328,487
1,189,400	TIAA-CREF Institutional High-Yield Fund II		10,990,054
1,889,180	TIAA-CREF Institutional Inflation-Linked Bond Fund		20,233,122
2,682,759	TIAA-CREF Institutional International Equity Fund		28,973,796
3,621,564	TIAA-CREF Institutional Large-Cap Value Fund		45,414,411
19,970	TIAA-CREF Institutional Mid-Cap Growth Fund		352,463
14,934	TIAA-CREF Institutional Mid-Cap Value Fund		246,712
1,894,767	TIAA-CREF Institutional Money Market Fund		1,894,767
1,680,880	TIAA-CREF Institutional Short-Term Bond Fund II		16,741,563
819,625	TIAA-CREF Institutional Small-Cap Equity Fund		10,310,888
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		359,758,602
	(Cost $381,523,722)
	TOTAL PORTFOLIO - 100.11%		359,758,602
	(Cost $381,523,722)
	OTHER ASSETS & LIABILITIES, NET - (0.11)%		(393,783	)
	NET ASSETS - 100.00%	$	359,364,819
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $21,765,120, consisting of gross unrealized appreciation of $3,399,421 and gross unrealized depreciation of $25,164,541.

1

TIAA-CREF LIFECYCLE FUNDS - Lifecycle 2015 Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2015 FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 99.49% (a)
8,986,424	TIAA-CREF Institutional Bond Fund	$	88,965,599
2,280,414	TIAA-CREF Institutional Enhanced International Equity Index Fund		19,771,187
1,956,017	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		17,858,436
1,547,423	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		13,307,837
530,892	TIAA-CREF Institutional Growth & Income Fund		4,788,646
5,436,099	TIAA-CREF Institutional Growth Equity Fund		43,488,795
1,029,388	TIAA-CREF Institutional High-Yield Fund II		9,511,549
773,222	TIAA-CREF Institutional Inflation-Linked Bond Fund		8,281,205
2,520,436	TIAA-CREF Institutional International Equity Fund		27,220,713
3,515,392	TIAA-CREF Institutional Large-Cap Value Fund		44,083,021
22,040	TIAA-CREF Institutional Mid-Cap Growth Fund		389,008
16,465	TIAA-CREF Institutional Mid-Cap Value Fund		272,007
1,090,078	TIAA-CREF Institutional Short-Term Bond Fund II		10,857,177
753,639	TIAA-CREF Institutional Small-Cap Equity Fund		9,480,776
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		298,275,956
	(Cost $319,140,596)
	TOTAL PORTFOLIO - 99.49%		298,275,956
	(Cost $319,140,596)
	OTHER ASSETS & LIABILITIES, NET - 0.51%		1,529,525
	NET ASSETS - 100.00%	$	299,805,481
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $20,864,640, consisting of gross unrealized appreciation of $2,634,052 and gross unrealized depreciation of $23,498,692.

2

TIAA-CREF LIFECYCLE FUNDS - Lifecycle 2020 Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2020 FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 99.32% (a)
6,727,931	TIAA-CREF Institutional Bond Fund	$	66,606,518
2,301,660	TIAA-CREF Institutional Enhanced International Equity Index Fund		19,955,393
1,973,831	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		18,021,076
1,564,565	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		13,455,260
707,461	TIAA-CREF Institutional Growth & Income Fund		6,381,300
5,448,797	TIAA-CREF Institutional Growth Equity Fund		43,590,372
1,091,671	TIAA-CREF Institutional High-Yield Fund II		10,087,041
307,841	TIAA-CREF Institutional Inflation-Linked Bond Fund		3,296,973
2,534,413	TIAA-CREF Institutional International Equity Fund		27,371,656
3,482,181	TIAA-CREF Institutional Large-Cap Value Fund		43,666,554
32,522	TIAA-CREF Institutional Mid-Cap Growth Fund		574,007
21,496	TIAA-CREF Institutional Mid-Cap Value Fund		355,115
326,371	TIAA-CREF Institutional Short-Term Bond Fund II		3,250,658
759,596	TIAA-CREF Institutional Small-Cap Equity Fund		9,555,720
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		266,167,643
	(Cost $287,298,452)
	TOTAL PORTFOLIO - 99.32%		266,167,643
	(Cost $287,298,452)
	OTHER ASSETS & LIABILITIES, NET - 0.68%		1,834,217
	NET ASSETS - 100.00%	$	268,001,860
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $21,130,809, consisting of gross unrealized appreciation of $2,020,474 and gross unrealized depreciation of $23,151,283.

3

TIAA-CREF LIFECYCLE FUNDS - Lifecycle 2025 Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2025 FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 98.95% (a)
4,442,766	TIAA-CREF Institutional Bond Fund	$	43,983,381
2,236,985	TIAA-CREF Institutional Enhanced International Equity Index Fund		19,394,658
1,914,642	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		17,480,677
1,513,650	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		13,017,391
773,068	TIAA-CREF Institutional Growth & Income Fund		6,973,076
5,229,449	TIAA-CREF Institutional Growth Equity Fund		41,835,591
997,697	TIAA-CREF Institutional High-Yield Fund II		9,218,717
2,426,730	TIAA-CREF Institutional International Equity Fund		26,208,689
3,357,411	TIAA-CREF Institutional Large-Cap Value Fund		42,101,935
43,417	TIAA-CREF Institutional Mid-Cap Growth Fund		766,310
24,050	TIAA-CREF Institutional Mid-Cap Value Fund		397,309
721,780	TIAA-CREF Institutional Small-Cap Equity Fund		9,079,990
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		230,457,724
	(Cost $252,029,406)
	TOTAL PORTFOLIO - 98.95%		230,457,724
	(Cost $252,029,406)
	OTHER ASSETS & LIABILITIES, NET - 1.05%		2,444,723
	NET ASSETS - 100.00%	$	232,902,447
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $21,571,682, consisting of gross unrealized appreciation of $1,171,864 and gross unrealized depreciation of $22,743,546.

4

TIAA-CREF LIFECYCLE FUNDS - Lifecycle 2030 Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2030 FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 98.91% (a)
2,334,174	TIAA-CREF Institutional Bond Fund	$	23,108,325
2,252,318	TIAA-CREF Institutional Enhanced International Equity Index Fund		19,527,599
1,938,655	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		17,699,916
1,525,854	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		13,122,345
928,010	TIAA-CREF Institutional Growth & Income Fund		8,370,655
5,207,147	TIAA-CREF Institutional Growth Equity Fund		41,657,175
908,481	TIAA-CREF Institutional High-Yield Fund II		8,394,360
2,400,446	TIAA-CREF Institutional International Equity Fund		25,924,816
3,339,609	TIAA-CREF Institutional Large-Cap Value Fund		41,878,692
39,863	TIAA-CREF Institutional Mid-Cap Growth Fund		703,585
30,203	TIAA-CREF Institutional Mid-Cap Value Fund		498,958
745,960	TIAA-CREF Institutional Small-Cap Equity Fund		9,384,171
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		210,270,597
	(Cost $231,470,062)
	TOTAL PORTFOLIO - 98.91%		210,270,597
	(Cost $231,470,062)
	OTHER ASSETS & LIABILITIES, NET - 1.09%		2,322,733
	NET ASSETS - 100.00%	$	212,593,330
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $21,199,465, consisting of gross unrealized appreciation of $1,179,133 and gross unrealized depreciation of $22,378,598.

5

TIAA-CREF LIFECYCLE FUNDS - Lifecycle 2035 Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2035 FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 98.70% (a)
1,125,232	TIAA-CREF Institutional Bond Fund	$	11,139,801
2,034,011	TIAA-CREF Institutional Enhanced International Equity Index Fund		17,634,880
1,774,443	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		16,200,660
1,395,474	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		12,001,072
1,228,190	TIAA-CREF Institutional Growth & Income Fund		11,078,275
4,489,201	TIAA-CREF Institutional Growth Equity Fund		35,913,609
788,349	TIAA-CREF Institutional High-Yield Fund II		7,284,344
2,208,330	TIAA-CREF Institutional International Equity Fund		23,849,964
2,907,568	TIAA-CREF Institutional Large-Cap Value Fund		36,460,906
53,735	TIAA-CREF Institutional Mid-Cap Growth Fund		948,417
36,678	TIAA-CREF Institutional Mid-Cap Value Fund		605,918
691,359	TIAA-CREF Institutional Small-Cap Equity Fund		8,697,293
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		181,815,139
	(Cost $200,462,900)
	TOTAL PORTFOLIO - 98.70%		181,815,139
	(Cost $200,462,900)
	OTHER ASSETS & LIABILITIES, NET - 1.30%		2,399,774
	NET ASSETS - 100.00%	$	184,214,913
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $18,647,761, consisting of gross unrealized appreciation of $846,625 and gross unrealized depreciation of $19,494,386.

6

TIAA-CREF LIFECYCLE FUNDS - Lifecycle 2040 Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2040 FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 98.82% (a)
1,639,325	TIAA-CREF Institutional Bond Fund	$	16,229,314
2,967,454	TIAA-CREF Institutional Enhanced International Equity Index Fund		25,727,828
2,575,576	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		23,515,004
2,038,048	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		17,527,212
2,049,062	TIAA-CREF Institutional Growth & Income Fund		18,482,542
6,441,189	TIAA-CREF Institutional Growth Equity Fund		51,529,512
1,148,452	TIAA-CREF Institutional High-Yield Fund II		10,611,701
3,342,629	TIAA-CREF Institutional International Equity Fund		36,100,395
3,976,577	TIAA-CREF Institutional Large-Cap Value Fund		49,866,276
92,308	TIAA-CREF Institutional Mid-Cap Growth Fund		1,629,243
66,866	TIAA-CREF Institutional Mid-Cap Value Fund		1,104,631
1,025,815	TIAA-CREF Institutional Small-Cap Equity Fund		12,904,758
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		265,228,416
	(Cost $292,654,402)
	TOTAL PORTFOLIO - 98.82%		265,228,416
	(Cost $292,654,402)
	OTHER ASSETS & LIABILITIES, NET - 1.18%		3,169,207
	NET ASSETS - 100.00%	$	268,397,623
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $27,425,986, consisting of gross unrealized appreciation of $827,903 and gross unrealized depreciation of $28,253,889.

7

TIAA-CREF LIFECYCLE FUNDS - Lifecycle 2045 Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2045 FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 99.34% (a)
13,145	TIAA-CREF Institutional Bond Fund	$	130,139
23,449	TIAA-CREF Institutional Enhanced International Equity Index Fund		203,306
22,080	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		201,593
16,366	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		140,750
22,679	TIAA-CREF Institutional Growth & Income Fund		204,568
46,658	TIAA-CREF Institutional Growth Equity Fund		373,266
9,379	TIAA-CREF Institutional High-Yield Fund II		86,665
27,787	TIAA-CREF Institutional International Equity Fund		300,103
27,553	TIAA-CREF Institutional Large-Cap Value Fund		345,515
981	TIAA-CREF Institutional Mid-Cap Growth Fund		17,317
772	TIAA-CREF Institutional Mid-Cap Value Fund		12,756
9,596	TIAA-CREF Institutional Small-Cap Equity Fund		120,722
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		2,136,700
	(Cost $2,448,426)
	TOTAL PORTFOLIO - 99.34%		2,136,700
	(Cost $2,448,426)
	OTHER ASSETS & LIABILITIES, NET - (0.66%)		14,127
	NET ASSETS - 100.00%	$	2,150,827
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $311,726, consisting of gross unrealized appreciation of $0 and gross unrealized depreciation of $311,726.

8

TIAA-CREF LIFECYCLE FUNDS - Lifecycle 2050 Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2050 FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 100.29% (a)
12,671	TIAA-CREF Institutional Bond Fund	$	125,447
21,996	TIAA-CREF Institutional Enhanced International Equity Index Fund		190,702
20,163	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		184,087
15,771	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		135,630
21,090	TIAA-CREF Institutional Growth & Income Fund		190,230
43,360	TIAA-CREF Institutional Growth Equity Fund		346,876
8,983	TIAA-CREF Institutional High-Yield Fund II		83,002
27,485	TIAA-CREF Institutional International Equity Fund		296,836
29,136	TIAA-CREF Institutional Large-Cap Value Fund		365,362
944	TIAA-CREF Institutional Mid-Cap Growth Fund		16,655
718	TIAA-CREF Institutional Mid-Cap Value Fund		11,862
9,421	TIAA-CREF Institutional Small-Cap Equity Fund		118,518
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		2,065,207
	(Cost $2,215,643)
	TOTAL PORTFOLIO - 100.29%		2,065,207
	(Cost $2,215,643)
	OTHER ASSETS & LIABILITIES, NET - (0.29%)		(5,971	)
	NET ASSETS - 100.00%	$	2,059,236
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $150,436, consisting of gross unrealized appreciation of $586 and gross unrealized depreciation of $151,022.

9

TIAA-CREF LIFECYCLE FUNDS - Lifecycle Retirement Income Fund
TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE RETIREMENT INCOME FUND
STATEMENT OF INVESTMENTS (unaudited)
June 30, 2008
SHARES	COMPANY		VALUE
TIAA-CREF INSTITUTIONAL MUTUAL FUNDS - 99.54% (a)
557,332	TIAA-CREF Institutional Bond Fund	$	5,517,587
63,953	TIAA-CREF Institutional Enhanced International Equity Index Fund		554,474
52,705	TIAA-CREF Institutional Enhanced Large-Cap Growth Index Fund		481,194
43,678	TIAA-CREF Institutional Enhanced Large-Cap Value Index Fund		375,633
65,419	TIAA-CREF Institutional Growth & Income Fund		590,075
110,840	TIAA-CREF Institutional Growth Equity Fund		886,721
28,221	TIAA-CREF Institutional High-Yield Fund II		260,761
72,851	TIAA-CREF Institutional Inflation-Linked Bond Fund		780,230
70,660	TIAA-CREF Institutional International Equity Fund		763,130
75,176	TIAA-CREF Institutional Large-Cap Value Fund		942,712
3,235	TIAA-CREF Institutional Mid-Cap Growth Fund		57,104
2,103	TIAA-CREF Institutional Mid-Cap Value Fund		34,741
260,302	TIAA-CREF Institutional Money Market Fund		260,302
90,341	TIAA-CREF Institutional Short-Term Bond Fund II		899,796
27,189	TIAA-CREF Institutional Small-Cap Equity Fund		342,035
	TOTAL TIAA-CREF INSTITUTIONAL MUTUAL FUNDS		12,746,495
	(Cost $13,565,319)
	TOTAL PORTFOLIO - 99.54%		12,746,495
	(Cost $13,565,319)
	OTHER ASSETS & LIABILITIES, NET - 0.46%		58,564
	NET ASSETS - 100.00%	$	12,805,059
(a) The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Institutional Mutual Funds.
At June 30, 2008, the net unrealized depreciation on investments was $818,824, consisting of gross unrealized appreciation of $2,964 and gross unrealized depreciation of $821,788.

10

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

Note 1—significant accounting policies

The Lifecycle Funds (the “Funds,” each individually referred to as a “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. 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. The accompanying financial statements were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) 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 trade date. Interest income is recorded as earned. Dividends and distributions from the affiliated investment companies are recorded on the ex-dividend date. Dividends from the affiliated investment companies are recorded as dividend income, while capital gain distributions are recorded as gain distributions from sale of investments from affiliated investment companies on the Statement of Operations. Realized gains and losses on sales from investments in affiliated investment companies are based upon the specific identification method.

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 measuring fair value under “GAAP” and expands disclosure about fair value measurements. SFAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007.

Various inputs are used in determining the value of a 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’ net assets as of June 30, 2008:

11

Fund	Level 1		Level 2	Level 3	Total
Lifecycle 2045		2,136,700	—	—		2,136,700
Lifecycle 2050		2,065,207	—	—		2,065,207
Lifecycle Retirement Income		12,746,495	—	—		12,746,495

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 March 2008, FASB issued Statement of Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities – an amendment of FASB Statement No. 133” (“SFAS 161”). SFAS 161 requires enhanced disclosures about the Fund’s derivative and hedging activities thereby improving the transparency of the financial reporting. SFAS 161 is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008. Management is currently evaluating the impact the adoption of SFAS 161 will have on the financial statements.

12

Item 2. Controls and Procedures.

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

           (b) There were no changes in the Registrant’s internal 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:	August 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:	August 21, 2008	By:	/s/ Scott C. Evans
			Scott C. Evans
			Principal Executive Officer and President
			(principal executive officer)

Date:	August 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