UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 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: May 31

Date of reporting period: February 28, 2013

Item 1. Schedule of Investments.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle Retirement Income Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE RETIREMENT INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.9%(a)
FIXED INCOME - 40.0%
6,769,432	TIAA-CREF Bond Fund	$	72,094,446
90,360	TIAA-CREF Bond Plus Fund		974,078
465,918	TIAA-CREF High-Yield Fund		4,868,847
	TOTAL FIXED INCOME		77,937,371
INFLATION-PROTECTED ASSETS - 10.0%
1,573,893	TIAA-CREF Inflation-Linked Bond Fund		19,484,789
	TOTAL INFLATION-PROTECTED ASSETS		19,484,789
INTERNATIONAL EQUITY - 11.5%
520,344	TIAA-CREF Emerging Markets Equity Fund		5,838,258
848,297	TIAA-CREF Enhanced International Equity Index Fund		6,158,636
233,651	TIAA-CREF Global Natural Resources Fund		2,401,933
825,843	TIAA-CREF International Equity Fund		8,076,746
	TOTAL INTERNATIONAL EQUITY		22,475,573
SHORT-TERM FIXED INCOME - 10.0%
1,849,663	TIAA-CREF Short-Term Bond Fund		19,458,451
	TOTAL SHORT-TERM FIXED INCOME		19,458,451
U.S. EQUITY - 28.4%
987,060	TIAA-CREF Enhanced Large-Cap Growth Index Fund		9,613,965
1,148,820	TIAA-CREF Enhanced Large-Cap Value Index Fund		10,431,290
838,615	TIAA-CREF Growth & Income Fund		8,939,636
820,099	TIAA-CREF Large-Cap Growth Fund		10,144,627
710,344	TIAA-CREF Large-Cap Value Fund		10,889,577
23,088	TIAA-CREF Mid-Cap Growth Fund		480,230
30,568	TIAA-CREF Mid-Cap Value Fund		608,922
274,173	TIAA-CREF Small-Cap Equity Fund		4,345,641
	TOTAL U.S. EQUITY		55,453,888
	TOTAL TIAA-CREF FUNDS		194,810,072
	(Cost $176,138,770)
	TOTAL INVESTMENTS - 99.9%		194,810,072
	(Cost $176,138,770)
	OTHER ASSETS & LIABILITIES, NET - 0.1%		238,114
	NET ASSETS - 100.0%	$	195,048,186

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

1

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2010 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2010 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.7%(a)
FIXED INCOME - 38.4%
28,624,965	TIAA-CREF Bond Fund	$	304,855,875
706,969	TIAA-CREF Bond Plus Fund		7,621,122
2,414,523	TIAA-CREF High-Yield Fund		25,231,768
	TOTAL FIXED INCOME		337,708,765
INFLATION-PROTECTED ASSETS - 7.0%
4,978,739	TIAA-CREF Inflation-Linked Bond Fund		61,636,784
	TOTAL INFLATION-PROTECTED ASSETS		61,636,784
INTERNATIONAL EQUITY - 13.5%
2,713,274	TIAA-CREF Emerging Markets Equity Fund		30,442,940
4,654,272	TIAA-CREF Enhanced International Equity Index Fund		33,790,014
1,201,698	TIAA-CREF Global Natural Resources Fund		12,353,457
4,352,095	TIAA-CREF International Equity Fund		42,563,489
	TOTAL INTERNATIONAL EQUITY		119,149,900
SHORT-TERM FIXED INCOME - 7.0%
5,856,806	TIAA-CREF Short-Term Bond Fund		61,613,602
	TOTAL SHORT-TERM FIXED INCOME		61,613,602
U.S. EQUITY - 33.8%
5,317,586	TIAA-CREF Enhanced Large-Cap Growth Index Fund		51,793,284
6,178,968	TIAA-CREF Enhanced Large-Cap Value Index Fund		56,105,034
4,476,520	TIAA-CREF Growth & Income Fund		47,719,702
4,373,950	TIAA-CREF Large-Cap Growth Fund		54,105,758
3,796,610	TIAA-CREF Large-Cap Value Fund		58,202,036
133,373	TIAA-CREF Mid-Cap Growth Fund		2,774,158
173,826	TIAA-CREF Mid-Cap Value Fund		3,462,618
1,465,338	TIAA-CREF Small-Cap Equity Fund		23,225,606
	TOTAL U.S. EQUITY		297,388,196
	TOTAL TIAA-CREF FUNDS		877,497,247
	(Cost $783,578,329)
	TOTAL INVESTMENTS - 99.7%		877,497,247
	(Cost $783,578,329)
	OTHER ASSETS & LIABILITIES, NET - 0.3%		2,962,924
	NET ASSETS - 100.0%	$	880,460,171

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

2

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2015 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2015 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 35.9%
37,700,844	TIAA-CREF Bond Fund	$	401,513,986
1,774,482	TIAA-CREF Bond Plus Fund		19,128,912
4,312,979	TIAA-CREF High-Yield Fund		45,070,632
	TOTAL FIXED INCOME		465,713,530
INFLATION-PROTECTED ASSETS - 5.0%
5,231,730	TIAA-CREF Inflation-Linked Bond Fund		64,768,823
	TOTAL INFLATION-PROTECTED ASSETS		64,768,823
INTERNATIONAL EQUITY - 15.3%
4,466,086	TIAA-CREF Emerging Markets Equity Fund		50,109,480
7,918,232	TIAA-CREF Enhanced International Equity Index Fund		57,486,365
1,978,155	TIAA-CREF Global Natural Resources Fund		20,335,431
7,165,237	TIAA-CREF International Equity Fund		70,076,019
	TOTAL INTERNATIONAL EQUITY		198,007,295
SHORT-TERM FIXED INCOME - 5.0%
6,157,632	TIAA-CREF Short-Term Bond Fund		64,778,285
	TOTAL SHORT-TERM FIXED INCOME		64,778,285
U.S. EQUITY - 38.4%
8,941,332	TIAA-CREF Enhanced Large-Cap Growth Index Fund		87,088,570
10,394,346	TIAA-CREF Enhanced Large-Cap Value Index Fund		94,380,660
7,491,821	TIAA-CREF Growth & Income Fund		79,862,813
7,316,686	TIAA-CREF Large-Cap Growth Fund		90,507,400
6,353,205	TIAA-CREF Large-Cap Value Fund		97,394,626
234,042	TIAA-CREF Mid-Cap Growth Fund		4,868,066
302,236	TIAA-CREF Mid-Cap Value Fund		6,020,539
2,456,715	TIAA-CREF Small-Cap Equity Fund		38,938,934
	TOTAL U.S. EQUITY		499,061,608
	TOTAL TIAA-CREF FUNDS		1,292,329,541
	(Cost $1,194,274,136)
	TOTAL INVESTMENTS - 99.6%		1,292,329,541
	(Cost $1,194,274,136)
	OTHER ASSETS & LIABILITIES, NET - 0.4%		5,285,835
	NET ASSETS - 100.0%	$	1,297,615,376

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

3

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2020 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2020 FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES		COMPANY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 32.0%
	38,740,599	TIAA-CREF Bond Fund	$	412,587,380
	4,591,055	TIAA-CREF Bond Plus Fund		49,491,572
	7,164,342	TIAA-CREF High-Yield Fund		74,867,378
		TOTAL FIXED INCOME		536,946,330
INFLATION-PROTECTED ASSETS - 3.0%
	4,107,640	TIAA-CREF Inflation-Linked Bond Fund		50,852,582
		TOTAL INFLATION-PROTECTED ASSETS		50,852,582
INTERNATIONAL EQUITY - 17.4%
	6,522,047	TIAA-CREF Emerging Markets Equity Fund		73,177,366
	11,920,313	TIAA-CREF Enhanced International Equity Index Fund		86,541,476
	2,875,207	TIAA-CREF Global Natural Resources Fund		29,557,124
	10,549,758	TIAA-CREF International Equity Fund		103,176,633
		TOTAL INTERNATIONAL EQUITY		292,452,599
SHORT-TERM FIXED INCOME - 3.0%
	4,831,141	TIAA-CREF Short-Term Bond Fund		50,823,604
		TOTAL SHORT-TERM FIXED INCOME		50,823,604
U.S. EQUITY - 44.2%
	13,354,599	TIAA-CREF Enhanced Large-Cap Growth Index Fund		130,073,795
	15,509,131	TIAA-CREF Enhanced Large-Cap Value Index Fund		140,822,911
	11,133,523	TIAA-CREF Growth & Income Fund		118,683,350
	10,880,239	TIAA-CREF Large-Cap Growth Fund		134,588,552
	9,440,246	TIAA-CREF Large-Cap Value Fund		144,718,975
	362,144	TIAA-CREF Mid-Cap Growth Fund		7,532,593
	464,712	TIAA-CREF Mid-Cap Value Fund		9,257,066
	3,647,935	TIAA-CREF Small-Cap Equity Fund		57,819,763
		TOTAL U.S. EQUITY		743,497,005
		TOTAL TIAA-CREF FUNDS		1,674,572,120
		(Cost $1,528,386,387)
		TOTAL INVESTMENTS - 99.6%		1,674,572,120
		(Cost $1,528,386,387)
		OTHER ASSETS & LIABILITIES, NET - 0.4%		5,904,362
		NET ASSETS - 100.0%	$	1,680,476,482

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

4

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2025 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2025 FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES		COMPANY	VALUE
TIAA-CREF FUNDS - 99.5%(a)
FIXED INCOME - 28.0%
	26,930,311	TIAA-CREF Bond Fund	$	286,807,810
	7,460,101	TIAA-CREF Bond Plus Fund		80,419,890
	8,499,375	TIAA-CREF High-Yield Fund		88,818,471
		TOTAL FIXED INCOME		456,046,171
INFLATION-PROTECTED ASSETS - 1.0%
	1,369,093	TIAA-CREF Inflation-Linked Bond Fund		16,949,375
		TOTAL INFLATION-PROTECTED ASSETS		16,949,375
INTERNATIONAL EQUITY - 19.5%
	7,053,515	TIAA-CREF Emerging Markets Equity Fund		79,140,439
	13,192,658	TIAA-CREF Enhanced International Equity Index Fund		95,778,694
	3,100,071	TIAA-CREF Global Natural Resources Fund		31,868,731
	11,461,944	TIAA-CREF International Equity Fund		112,097,811
		TOTAL INTERNATIONAL EQUITY		318,885,675
SHORT-TERM FIXED INCOME - 1.0%
	1,610,288	TIAA-CREF Short-Term Bond Fund		16,940,232
		TOTAL SHORT-TERM FIXED INCOME		16,940,232
U.S. EQUITY - 50.0%
	14,691,197	TIAA-CREF Enhanced Large-Cap Growth Index Fund		143,092,260
	17,054,667	TIAA-CREF Enhanced Large-Cap Value Index Fund		154,856,381
	12,201,994	TIAA-CREF Growth & Income Fund		130,073,258
	11,925,879	TIAA-CREF Large-Cap Growth Fund		147,523,124
	10,346,069	TIAA-CREF Large-Cap Value Fund		158,605,239
	409,868	TIAA-CREF Mid-Cap Growth Fund		8,525,248
	522,582	TIAA-CREF Mid-Cap Value Fund		10,409,841
	3,995,724	TIAA-CREF Small-Cap Equity Fund		63,332,218
		TOTAL U.S. EQUITY		816,417,569
		TOTAL TIAA-CREF FUNDS		1,625,239,022
		(Cost $1,469,326,561)
		TOTAL INVESTMENTS - 99.5%		1,625,239,022
		(Cost $1,469,326,561)
		OTHER ASSETS & LIABILITIES, NET - 0.5%		7,028,786
		NET ASSETS - 100.0%	$	1,632,267,808

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

5

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2030 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2030 FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES		COMPANY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 22.1%
	14,808,110	TIAA-CREF Bond Fund	$	157,706,367
	8,607,173	TIAA-CREF Bond Plus Fund		92,785,327
	8,883,700	TIAA-CREF High-Yield Fund		92,834,661
		TOTAL FIXED INCOME		343,326,355
INTERNATIONAL EQUITY - 21.7%
	7,407,467	TIAA-CREF Emerging Markets Equity Fund		83,111,779
	14,137,204	TIAA-CREF Enhanced International Equity Index Fund		102,636,098
	3,252,286	TIAA-CREF Global Natural Resources Fund		33,433,503
	12,071,318	TIAA-CREF International Equity Fund		118,057,493
		TOTAL INTERNATIONAL EQUITY		337,238,873
U.S. EQUITY - 55.8%
	15,649,380	TIAA-CREF Enhanced Large-Cap Growth Index Fund		152,424,959
	18,164,677	TIAA-CREF Enhanced Large-Cap Value Index Fund		164,935,270
	12,961,103	TIAA-CREF Growth & Income Fund		138,165,362
	12,666,562	TIAA-CREF Large-Cap Growth Fund		156,685,376
	10,988,131	TIAA-CREF Large-Cap Value Fund		168,448,049
	446,421	TIAA-CREF Mid-Cap Growth Fund		9,285,551
	566,192	TIAA-CREF Mid-Cap Value Fund		11,278,542
	4,240,260	TIAA-CREF Small-Cap Equity Fund		67,208,117
		TOTAL U.S. EQUITY		868,431,226
		TOTAL TIAA-CREF FUNDS		1,548,996,454
		(Cost $1,379,892,966)
		TOTAL INVESTMENTS - 99.6%		1,548,996,454
		(Cost $1,379,892,966)
		OTHER ASSETS & LIABILITIES, NET - 0.4%		6,138,042
		NET ASSETS - 100.0%	$	1,555,134,496

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

6

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2035 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2035 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 14.1%
3,203,895	TIAA-CREF Bond Fund	$	34,121,478
8,657,721	TIAA-CREF Bond Plus Fund		93,330,229
8,935,730	TIAA-CREF High-Yield Fund		93,378,378
	TOTAL FIXED INCOME		220,830,085
INTERNATIONAL EQUITY - 23.9%
8,149,628	TIAA-CREF Emerging Markets Equity Fund		91,438,822
15,813,354	TIAA-CREF Enhanced International Equity Index Fund		114,804,949
3,557,385	TIAA-CREF Global Natural Resources Fund		36,569,914
13,320,558	TIAA-CREF International Equity Fund		130,275,057
	TOTAL INTERNATIONAL EQUITY		373,088,742
U.S. EQUITY - 61.6%
17,402,181	TIAA-CREF Enhanced Large-Cap Growth Index Fund		169,497,246
20,192,220	TIAA-CREF Enhanced Large-Cap Value Index Fund		183,345,358
14,376,362	TIAA-CREF Growth & Income Fund		153,252,024
14,045,560	TIAA-CREF Large-Cap Growth Fund		173,743,583
12,190,616	TIAA-CREF Large-Cap Value Fund		186,882,145
504,471	TIAA-CREF Mid-Cap Growth Fund		10,492,988
638,182	TIAA-CREF Mid-Cap Value Fund		12,712,582
4,707,555	TIAA-CREF Small-Cap Equity Fund		74,614,749
	TOTAL U.S. EQUITY		964,540,675
	TOTAL TIAA-CREF FUNDS		1,558,459,502
	(Cost $1,369,292,126)
	TOTAL INVESTMENTS - 99.6%		1,558,459,502
	(Cost $1,369,292,126)
	OTHER ASSETS & LIABILITIES, NET - 0.4%		6,549,738
	NET ASSETS - 100.0%	$	1,565,009,240

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

7

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2040 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2040 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 10.0%
7,853,996	TIAA-CREF Bond Plus Fund	$	84,666,077
12,153,412	TIAA-CREF High-Yield Fund		127,003,154
	TOTAL FIXED INCOME		211,669,231
INTERNATIONAL EQUITY - 24.9%
11,542,041	TIAA-CREF Emerging Markets Equity Fund		129,501,705
22,544,097	TIAA-CREF Enhanced International Equity Index Fund		163,670,142
5,034,059	TIAA-CREF Global Natural Resources Fund		51,750,130
18,898,695	TIAA-CREF International Equity Fund		184,829,241
	TOTAL INTERNATIONAL EQUITY		529,751,218
U.S. EQUITY - 64.7%
24,776,746	TIAA-CREF Enhanced Large-Cap Growth Index Fund		241,325,509
28,748,004	TIAA-CREF Enhanced Large-Cap Value Index Fund		261,031,875
20,448,212	TIAA-CREF Growth & Income Fund		217,977,942
19,976,678	TIAA-CREF Large-Cap Growth Fund		247,111,507
17,337,129	TIAA-CREF Large-Cap Value Fund		265,778,187
724,065	TIAA-CREF Mid-Cap Growth Fund		15,060,560
914,095	TIAA-CREF Mid-Cap Value Fund		18,208,771
6,691,133	TIAA-CREF Small-Cap Equity Fund		106,054,463
	TOTAL U.S. EQUITY		1,372,548,814
	TOTAL TIAA-CREF FUNDS		2,113,969,263
	(Cost $1,841,039,817)
	TOTAL INVESTMENTS - 99.6%		2,113,969,263
	(Cost $1,841,039,817)
	OTHER ASSETS & LIABILITIES, NET - 0.4%		8,603,146
	NET ASSETS - 100.0%	$	2,122,572,409

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

8

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2045 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2045 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.3%(a)
FIXED INCOME - 9.9%
1,883,471	TIAA-CREF Bond Plus Fund	$	20,303,815
2,914,494	TIAA-CREF High-Yield Fund		30,456,466
	TOTAL FIXED INCOME		50,760,281
INTERNATIONAL EQUITY - 25.0%
2,778,486	TIAA-CREF Emerging Markets Equity Fund		31,174,610
5,420,045	TIAA-CREF Enhanced International Equity Index Fund		39,349,526
1,214,759	TIAA-CREF Global Natural Resources Fund		12,487,726
4,545,932	TIAA-CREF International Equity Fund		44,459,214
	TOTAL INTERNATIONAL EQUITY		127,471,076
U.S. EQUITY - 64.4%
5,933,694	TIAA-CREF Enhanced Large-Cap Growth Index Fund		57,794,183
6,884,283	TIAA-CREF Enhanced Large-Cap Value Index Fund		62,509,289
4,896,332	TIAA-CREF Growth & Income Fund		52,194,896
4,785,233	TIAA-CREF Large-Cap Growth Fund		59,193,331
4,151,970	TIAA-CREF Large-Cap Value Fund		63,649,697
173,252	TIAA-CREF Mid-Cap Growth Fund		3,603,647
218,966	TIAA-CREF Mid-Cap Value Fund		4,361,801
1,603,300	TIAA-CREF Small-Cap Equity Fund		25,412,307
	TOTAL U.S. EQUITY		328,719,151
	TOTAL TIAA-CREF FUNDS		506,950,508
	(Cost $444,702,519)
	TOTAL INVESTMENTS - 99.3%		506,950,508
	(Cost $444,702,519)
	OTHER ASSETS & LIABILITIES, NET - 0.7%		3,804,304
	NET ASSETS - 100.0%	$	510,754,812

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

9

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2050 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2050 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.3%(a)
FIXED INCOME - 9.9%
1,026,574	TIAA-CREF Bond Plus Fund	$	11,066,469
1,588,527	TIAA-CREF High-Yield Fund		16,600,110
	TOTAL FIXED INCOME		27,666,579
INTERNATIONAL EQUITY - 24.9%
1,509,728	TIAA-CREF Emerging Markets Equity Fund		16,939,153
2,940,296	TIAA-CREF Enhanced International Equity Index Fund		21,346,548
660,100	TIAA-CREF Global Natural Resources Fund		6,785,830
2,471,180	TIAA-CREF International Equity Fund		24,168,142
	TOTAL INTERNATIONAL EQUITY		69,239,673
U.S. EQUITY - 64.5%
3,238,714	TIAA-CREF Enhanced Large-Cap Growth Index Fund		31,545,071
3,757,380	TIAA-CREF Enhanced Large-Cap Value Index Fund		34,117,012
2,672,440	TIAA-CREF Growth & Income Fund		28,488,206
2,611,872	TIAA-CREF Large-Cap Growth Fund		32,308,856
2,266,126	TIAA-CREF Large-Cap Value Fund		34,739,715
94,553	TIAA-CREF Mid-Cap Growth Fund		1,966,709
119,516	TIAA-CREF Mid-Cap Value Fund		2,380,758
874,270	TIAA-CREF Small-Cap Equity Fund		13,857,184
	TOTAL U.S. EQUITY		179,403,511
	TOTAL TIAA-CREF FUNDS		276,309,763
	(Cost $243,530,777)
	TOTAL INVESTMENTS - 99.3%		276,309,763
	(Cost $243,530,777)
	OTHER ASSETS & LIABILITIES, NET - 0.7%		1,997,184
	NET ASSETS - 100.0%	$	278,306,947

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

10

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2055 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2055 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.3%(a)
FIXED INCOME - 9.9%
100,141	TIAA-CREF Bond Plus Fund	$	1,079,524
154,547	TIAA-CREF High-Yield Fund		1,615,015
	TOTAL FIXED INCOME		2,694,539
INTERNATIONAL EQUITY - 24.9%
147,141	TIAA-CREF Emerging Markets Equity Fund		1,650,918
286,971	TIAA-CREF Enhanced International Equity Index Fund		2,083,411
64,334	TIAA-CREF Global Natural Resources Fund		661,352
240,880	TIAA-CREF International Equity Fund		2,355,806
	TOTAL INTERNATIONAL EQUITY		6,751,487
U.S. EQUITY - 64.5%
315,246	TIAA-CREF Enhanced Large-Cap Growth Index Fund		3,070,499
365,780	TIAA-CREF Enhanced Large-Cap Value Index Fund		3,321,284
260,169	TIAA-CREF Growth & Income Fund		2,773,401
254,319	TIAA-CREF Large-Cap Growth Fund		3,145,922
220,568	TIAA-CREF Large-Cap Value Fund		3,381,303
9,209	TIAA-CREF Mid-Cap Growth Fund		191,544
11,632	TIAA-CREF Mid-Cap Value Fund		231,712
85,113	TIAA-CREF Small-Cap Equity Fund		1,349,047
	TOTAL U.S. EQUITY		17,464,712
	TOTAL TIAA-CREF FUNDS		26,910,738
	(Cost $25,182,487)
	TOTAL INVESTMENTS - 99.3%		26,910,738
	(Cost $25,182,487)
	OTHER ASSETS & LIABILITIES, NET - 0.7%		187,800
	NET ASSETS - 100.0%	$	27,098,538

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

11

TIAA-CREF Lifecycle Funds – Notes to Schedules of Investments (unaudited)

Note 1—organization and significant accounting policies

The Lifecycle Funds (collectively the “Funds,” each individually referred to as a “Fund”) are a sub-family of mutual funds offered by the TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, that is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), 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 other funds of the Trust and potentially other investment pools or investment products. 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 Teachers Insurance and Annuity Association of America (“TIAA”). 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 four share classes, although any one Fund may not necessarily offer all four classes. The Funds may offer Institutional, Retirement, Retail and Premier Classes of shares. Each class differs by the allocation of class-specific expenses and voting rights in matters affecting a single class.

The accompanying schedules of investments were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. 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 consistently followed by the Funds.

Security valuation: The Funds’ investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the schedules of investments.

Investment transactions: Securities transactions are accounted for as of the trade date for financial reporting purposes.

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

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:

• 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 spreads, etc.)

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

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Funds’ major categories of assets and liabilities measured at fair value follows:

Investments in registered investment companies: These investments are valued at net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.

Transfers between levels are recognized at the end of the reporting period. For the period ended February 28, 2013, there were no significant transfers between levels by the Funds.

As of February 28, 2013, all of the investments in the Lifecycle Funds were valued based on Level 1 inputs.

12

TIAA-CREF Lifecycle Funds – Notes to Schedules of Investments (unaudited)

Note 3—affiliates

Investments in other investment companies advised by Advisors are deemed to be affiliated investments. The Funds invest their assets in Institutional Class shares of the affiliated TIAA-CREF Funds. Information regarding transactions with affiliated companies is as follows:

Issue	Value at May 31, 2012		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at February 28, 2013
Lifecycle Retirement Income
TIAA-CREF Bond	$	56,869,254	$	19,887,727	$	4,366,052	$	(28,877	)	$	2,905,915	$	72,094,446
TIAA-CREF Bond Plus		728,144		271,774		33,673		(126	)		31,211		974,078
TIAA-CREF Emerging Markets Equity		3,734,673		1,897,971		793,678		(78,734	)		61,353		5,838,258
TIAA-CREF Enhanced International Equity Index		5,229,161		2,310,529		2,486,918		(39,144	)		191,310		6,158,636
TIAA-CREF Enhanced Large-Cap Growth Index		7,775,068		2,391,858		1,063,996		(20,809	)		438,289		9,613,965
TIAA-CREF Enhanced Large-Cap Value Index		7,493,597		2,690,826		1,059,287		(3,651	)		404,433		10,431,290
TIAA-CREF Global Natural Resources		1,413,126		1,076,499		300,998		(16,523	)		42,718		2,401,933
TIAA-CREF Growth & Income		6,509,409		2,316,587		627,472		(13,284	)		435,693		8,939,636
TIAA-CREF High-Yield		727,029		4,192,318		165,321		(680	)		147,761		4,868,847
TIAA-CREF Inflation-Linked Bond		14,662,899		5,843,189		850,451		(2,108	)		390,127		19,484,789
TIAA-CREF International Equity		5,203,568		2,979,077		1,844,439		95,858			155,708		8,076,746
TIAA-CREF Large-Cap Growth		7,786,059		2,182,308		875,601		(11,718	)		286,933		10,144,627
TIAA-CREF Large-Cap Value		7,494,247		2,493,412		802,233		(411	)		215,338		10,889,577
TIAA-CREF Mid-Cap Growth		572,071		142,958		280,184		5,093			25,867		480,230
TIAA-CREF Mid-Cap Value		573,693		219,939		260,791		8,462			18,805		608,922
TIAA-CREF Short-Term Bond		14,532,392		5,424,840		662,320		(771	)		199,586		19,458,451
TIAA-CREF Small-Cap Equity		3,183,353		952,234		339,518		(7,814	)		116,353		4,345,641
	$	144,487,743	$	57,274,046	$	16,812,932	$	(115,237	)	$	6,067,400	$	194,810,072
Lifecycle 2010
TIAA-CREF Bond	$	279,194,468	$	54,294,254	$	27,776,771	$	(43,598	)	$	12,968,944	$	304,855,875
TIAA-CREF Bond Plus		6,902,838		1,064,740		427,532		66			263,976		7,621,122
TIAA-CREF Emerging Markets Equity		23,471,356		6,685,040		5,609,938		(585,413	)		333,185		30,442,940
TIAA-CREF Enhanced International Equity Index		32,863,879		7,763,216		16,573,285		(3,216,451	)		1,126,287		33,790,014
TIAA-CREF Enhanced Large-Cap Growth Index		48,969,552		6,769,357		6,875,953		115,263			2,466,791		51,793,284
TIAA-CREF Enhanced Large-Cap Value Index		47,214,371		7,151,794		5,914,203		34,568			2,275,243		56,105,034
TIAA-CREF Global Natural Resources		8,885,259		3,902,730		1,723,978		(91,328	)		230,433		12,353,457
TIAA-CREF Growth & Income		40,997,311		5,850,495		3,411,720		85,079			2,453,044		47,719,702
TIAA-CREF High-Yield		6,896,796		18,178,039		587,107		(2,186	)		847,537		25,231,768
TIAA-CREF Inflation-Linked Bond		51,846,966		12,594,839		2,225,441		8,520			1,315,790		61,636,784
TIAA-CREF International Equity		32,735,204		11,067,116		13,995,656		(2,228,909	)		836,798		42,563,489
TIAA-CREF Large-Cap Growth		49,083,428		5,363,948		6,260,061		227,386			1,601,382		54,105,758
TIAA-CREF Large-Cap Value		47,191,020		5,655,154		4,920,571		(367,284	)		1,202,154		58,202,036
TIAA-CREF Mid-Cap Growth		3,607,899		418,667		1,460,296		102,524			155,846		2,774,158
TIAA-CREF Mid-Cap Value		3,615,514		659,015		1,236,971		82,545			111,914		3,462,618
TIAA-CREF Short-Term Bond		51,455,436		11,542,365		1,948,774		(3,614	)		665,199		61,613,602
TIAA-CREF Small-Cap Equity		20,053,659		2,490,890		2,588,834		(99,642	)		649,788		23,225,606
	$	754,984,956	$	161,451,659	$	103,537,091	$	(5,982,474	)	$	29,504,311	$	877,497,247
Lifecycle 2015
TIAA-CREF Bond	$	344,886,177	$	86,484,853	$	25,917,543	$	2,559,031		$	16,563,838	$	401,513,986
TIAA-CREF Bond Plus		17,341,383		2,703,868		1,056,034		64,540			661,667		19,128,912
TIAA-CREF Emerging Markets Equity		37,498,993		10,622,343		5,787,433		773,649			538,470		50,109,480
TIAA-CREF Enhanced International Equity Index		52,512,508		11,967,103		16,083,688		1,615,445			1,914,675		57,486,365
TIAA-CREF Enhanced Large-Cap Growth Index		78,287,115		12,386,654		5,526,372		2,874,617			4,083,227		87,088,570
TIAA-CREF Enhanced Large-Cap Value Index		75,493,597		14,283,683		5,478,371		2,378,528			3,767,828		94,380,660
TIAA-CREF Global Natural Resources		14,201,395		6,075,745		1,662,777		167,909			370,845		20,335,431
TIAA-CREF Growth & Income		65,548,214		11,389,245		2,620,991		1,460,526			4,034,832		79,862,813
TIAA-CREF High-Yield		17,284,082		27,838,608		1,389,950		175,328			1,593,453		45,070,632
TIAA-CREF Inflation-Linked Bond		51,183,166		16,220,748		1,643,853		418,329			1,321,049		64,768,823
TIAA-CREF International Equity		52,312,484		16,565,814		12,757,067		2,909,249			1,348,516		70,076,019
TIAA-CREF Large-Cap Growth		78,473,880		9,525,965		3,987,292		3,430,776			2,637,321		90,507,400
TIAA-CREF Large-Cap Value		75,456,052		11,262,262		3,456,706		1,950,513			1,979,219		97,394,626
TIAA-CREF Mid-Cap Growth		5,771,298		713,616		1,358,039		769,254			268,712		4,868,066
TIAA-CREF Mid-Cap Value		5,783,200		1,162,130		1,190,472		577,893			191,628		6,020,539
TIAA-CREF Short-Term Bond		50,696,413		15,079,962		1,467,963		90,384			677,732		64,778,285
TIAA-CREF Small-Cap Equity		32,065,748		4,374,050		1,653,381		967,787			1,070,439		38,938,934
	$	1,054,795,705	$	258,656,649	$	93,037,932	$	23,183,758		$	43,023,451	$	1,292,329,541

13

TIAA-CREF Lifecycle Funds – Notes to Schedules of Investments (unaudited)

Issue	Value at May 31, 2012		Purchases cost		Sales proceeds		Realized gain (loss)		Dividend income		Value at February 28, 2013
Lifecycle 2020
TIAA-CREF Bond	$	343,181,098	$	105,003,000	$	31,205,338	$	2,865,866	$	16,740,582	$	412,587,380
TIAA-CREF Bond Plus		43,405,732		7,816,940		2,102,052		134,972		1,685,362		49,491,572
TIAA-CREF Emerging Markets Equity		53,685,711		14,737,307		6,659,272		896,265		778,959		73,177,366
TIAA-CREF Enhanced International Equity Index		75,193,792		17,261,546		19,191,686		2,468,530		2,894,077		86,541,476
TIAA-CREF Enhanced Large-Cap Growth Index		112,145,006		20,609,121		6,075,136		3,573,015		6,037,503		130,073,795
TIAA-CREF Enhanced Large-Cap Value Index		108,110,989		23,700,967		6,288,545		2,889,382		5,562,652		140,822,911
TIAA-CREF Global Natural Resources		20,327,542		8,734,373		2,003,944		216,047		535,728		29,557,124
TIAA-CREF Growth & Income		93,897,878		18,786,642		2,611,734		1,556,541		5,918,564		118,683,350
TIAA-CREF High-Yield		35,000,486		39,416,106		1,934,264		379,514		2,732,964		74,867,378
TIAA-CREF Inflation-Linked Bond		37,077,450		15,414,272		967,695		230,084		988,387		50,852,582
TIAA-CREF International Equity		74,868,673		22,992,241		15,109,569		3,711,516		1,929,783		103,176,633
TIAA-CREF Large-Cap Growth		112,370,580		14,964,645		3,702,385		3,483,595		3,871,222		134,588,552
TIAA-CREF Large-Cap Value		108,078,934		18,841,305		3,590,110		2,090,811		2,909,516		144,718,975
TIAA-CREF Mid-Cap Growth		8,260,924		1,108,300		1,631,692		964,250		411,159		7,532,593
TIAA-CREF Mid-Cap Value		8,277,794		1,876,024		1,429,463		725,164		291,432		9,257,066
TIAA-CREF Short-Term Bond		36,784,449		14,709,195		1,024,996		58,202		509,951		50,823,604
TIAA-CREF Small-Cap Equity		45,929,770		7,184,428		1,605,045		1,153,861		1,573,273		57,819,763
	$	1,316,596,808	$	353,156,412	$	107,132,926	$	27,397,615	$	55,371,114	$	1,674,572,120
Lifecycle 2025
TIAA-CREF Bond	$	236,825,777	$	83,153,632	$	29,466,154	$	2,696,602	$	11,491,780	$	286,807,810
TIAA-CREF Bond Plus		66,659,149		16,773,001		3,540,361		223,205		2,663,595		80,419,890
TIAA-CREF Emerging Markets Equity		57,191,768		15,440,987		5,797,637		860,195		831,359		79,140,439
TIAA-CREF Enhanced International Equity Index		80,160,649		18,463,886		17,127,771		2,813,315		3,212,775		95,778,694
TIAA-CREF Enhanced Large-Cap Growth Index		119,659,241		24,317,255		5,217,586		3,139,764		6,549,890		143,092,260
TIAA-CREF Enhanced Large-Cap Value Index		115,365,956		28,327,667		5,798,304		2,682,063		6,039,955		154,856,381
TIAA-CREF Global Natural Resources		21,668,637		9,146,965		1,649,844		189,824		570,010		31,868,731
TIAA-CREF Growth & Income		100,190,717		22,528,568		2,220,917		1,368,617		6,396,459		130,073,258
TIAA-CREF High-Yield		45,928,409		42,437,075		2,535,092		454,725		3,294,611		88,818,471
TIAA-CREF Inflation-Linked Bond		9,644,575		7,724,196		246,254		33,279		286,012		16,949,375
TIAA-CREF International Equity		79,793,965		24,553,730		14,240,921		3,747,884		2,057,507		112,097,811
TIAA-CREF Large-Cap Growth		119,927,974		18,177,038		3,095,183		3,012,368		4,189,196		147,523,124
TIAA-CREF Large-Cap Value		115,313,518		23,257,743		3,357,167		1,957,848		3,148,926		158,605,239
TIAA-CREF Mid-Cap Growth		8,814,665		1,220,635		1,344,637		987,967		459,095		8,525,248
TIAA-CREF Mid-Cap Value		8,831,154		2,168,912		1,241,668		729,220		323,611		10,409,841
TIAA-CREF Short-Term Bond		9,562,992		7,504,356		236,323		4,644		151,787		16,940,232
TIAA-CREF Small-Cap Equity		49,011,795		8,584,113		1,307,248		1,006,815		1,702,110		63,332,218
	$	1,244,550,941	$	353,779,759	$	98,423,067	$	25,908,335	$	53,368,678	$	1,625,239,022
Lifecycle 2030
TIAA-CREF Bond	$	133,814,039	$	55,076,289	$	28,506,432	$	2,234,798	$	6,242,815	$	157,706,367
TIAA-CREF Bond Plus		72,874,717		24,167,652		4,745,288		299,251		2,992,758		92,785,327
TIAA-CREF Emerging Markets Equity		60,179,964		15,941,630		5,969,543		881,898		871,673		83,111,779
TIAA-CREF Enhanced International Equity Index		84,362,509		19,663,430		16,530,240		3,093,586		3,459,024		102,636,098
TIAA-CREF Enhanced Large-Cap Growth Index		126,677,835		25,644,188		4,883,455		2,912,943		6,954,781		152,424,959
TIAA-CREF Enhanced Large-Cap Value Index		122,151,561		30,017,014		5,501,851		2,575,015		6,408,444		164,935,270
TIAA-CREF Global Natural Resources		22,828,845		9,630,305		1,867,930		206,461		596,005		33,433,503
TIAA-CREF Growth & Income		106,084,339		24,195,234		2,257,189		1,438,348		6,766,878		138,165,362
TIAA-CREF High-Yield		48,500,716		44,303,201		3,082,248		486,060		3,422,929		92,834,661
TIAA-CREF International Equity		84,005,634		24,741,395		13,889,335		3,800,014		2,147,071		118,057,493
TIAA-CREF Large-Cap Growth		126,964,163		18,694,207		2,709,475		2,692,698		4,432,292		156,685,376
TIAA-CREF Large-Cap Value		122,061,236		24,983,759		3,323,410		2,126,460		3,331,206		168,448,049
TIAA-CREF Mid-Cap Growth		9,386,608		1,268,050		1,215,794		1,034,458		497,160		9,285,551
TIAA-CREF Mid-Cap Value		9,353,064		2,433,420		1,219,388		765,747		349,266		11,278,542
TIAA-CREF Small-Cap Equity		51,889,989		9,301,030		1,399,492		1,103,245		1,800,435		67,208,117
	$	1,181,135,219	$	330,060,804	$	97,101,070	$	25,650,982	$	50,272,737	$	1,548,996,454

14

TIAA-CREF Lifecycle Funds – Notes to Schedules of Investments (unaudited)

Issue	Value at May 31, 2012		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at February 28, 2013
Lifecycle 2035
TIAA-CREF Bond	$	36,707,298	$	24,369,024	$	26,343,087	$	762,654		$	1,280,929	$	34,121,478
TIAA-CREF Bond Plus		73,778,169		24,575,659		5,489,209		315,500			3,002,139		93,330,229
TIAA-CREF Emerging Markets Equity		65,056,951		18,598,437		6,422,967		984,688			954,868		91,438,822
TIAA-CREF Enhanced International Equity Index		91,289,861		23,307,018		16,310,154		3,694,890			3,883,031		114,804,949
TIAA-CREF Enhanced Large-Cap Growth Index		139,469,850		29,791,703		5,234,269		3,174,071			7,724,049		169,497,246
TIAA-CREF Enhanced Large-Cap Value Index		134,641,265		34,531,618		5,913,796		2,852,757			7,121,535		183,345,358
TIAA-CREF Global Natural Resources		24,761,431		10,555,361		1,882,522		215,861			654,929		36,569,914
TIAA-CREF Growth & Income		116,901,079		28,067,995		2,646,960		1,779,960			7,491,982		153,252,024
TIAA-CREF High-Yield		49,157,713		45,199,916		4,029,173		542,688			3,433,577		93,378,378
TIAA-CREF International Equity		90,900,863		27,675,855		13,638,423		4,222,257			2,344,595		130,275,057
TIAA-CREF Large-Cap Growth		139,858,771		22,174,724		3,230,996		3,157,058			4,899,908		173,743,583
TIAA-CREF Large-Cap Value		134,310,425		29,031,637		3,607,253		2,449,626			3,680,017		186,882,145
TIAA-CREF Mid-Cap Growth		10,355,386		1,406,396		1,177,752		1,069,206			559,811		10,492,988
TIAA-CREF Mid-Cap Value		10,306,761		2,809,476		1,224,690		819,732			392,520		12,712,582
TIAA-CREF Small-Cap Equity		57,192,343		10,711,405		1,475,079		1,189,347			1,992,354		74,614,749
	$	1,174,688,166	$	332,806,224	$	98,626,330	$	27,230,295		$	49,416,244	$	1,558,459,502
Lifecycle 2040
TIAA-CREF Bond Plus	$	103,656,294	$	26,742,133	$	44,422,663	$	2,761,269		$	3,052,771	$	84,666,077
TIAA-CREF Emerging Markets Equity		93,621,076		25,748,635		10,094,210		1,511,626			1,358,571		129,501,705
TIAA-CREF Enhanced International Equity Index		131,399,319		31,940,059		23,209,434		5,570,185			5,571,949		163,670,142
TIAA-CREF Enhanced Large-Cap Growth Index		201,595,613		41,416,978		8,765,748		5,323,837			11,040,935		241,325,509
TIAA-CREF Enhanced Large-Cap Value Index		194,508,310		48,081,550		9,752,912		4,728,077			10,176,566		261,031,875
TIAA-CREF Global Natural Resources		35,655,732		14,735,816		3,130,509		343,375			929,988		51,750,130
TIAA-CREF Growth & Income		168,969,723		38,552,299		4,650,675		3,143,631			10,707,975		217,977,942
TIAA-CREF High-Yield		68,536,149		62,350,500		7,869,566		984,713			4,718,113		127,003,154
TIAA-CREF International Equity		130,792,792		38,316,392		20,109,544		6,513,917			3,331,021		184,829,241
TIAA-CREF Large-Cap Growth		202,004,978		30,718,792		5,867,300		5,670,595			6,997,781		247,111,507
TIAA-CREF Large-Cap Value		194,107,703		40,221,655		6,526,842		4,461,597			5,257,039		265,778,187
TIAA-CREF Mid-Cap Growth		14,932,163		1,896,182		1,619,004		1,554,461			805,758		15,060,560
TIAA-CREF Mid-Cap Value		14,876,347		3,981,723		1,781,352		1,228,484			564,304		18,208,771
TIAA-CREF Small-Cap Equity		82,639,391		15,179,940		2,866,009		2,299,151			2,845,165		106,054,463
	$	1,637,295,590	$	419,882,654	$	150,665,768	$	46,094,918		$	67,357,936	$	2,113,969,263
Lifecycle 2045
TIAA-CREF Bond Plus	$	19,347,379	$	8,420,546	$	7,621,102	$	95,558		$	657,369	$	20,303,815
TIAA-CREF Emerging Markets Equity		17,764,880		9,549,032		807,442		(125,074	)		305,060		31,174,610
TIAA-CREF Enhanced International Equity Index		24,901,748		12,655,515		4,592,329		(383,275	)		1,247,999		39,349,526
TIAA-CREF Enhanced Large-Cap Growth Index		37,593,619		19,458,932		1,813,385		(77,163	)		2,482,219		57,794,183
TIAA-CREF Enhanced Large-Cap Value Index		36,238,511		20,993,253		1,714,838		(61,683	)		2,289,780		62,509,289
TIAA-CREF Global Natural Resources		6,733,156		4,951,422		161,913		(16,289	)		209,251		12,487,726
TIAA-CREF Growth & Income		31,489,233		17,697,493		786,112		(35,669	)		2,376,062		52,194,896
TIAA-CREF High-Yield		12,886,971		17,347,620		810,861		(14,380	)		1,020,808		30,456,466
TIAA-CREF International Equity		24,759,773		14,229,311		3,455,058		(155,012	)		743,251		44,459,214
TIAA-CREF Large-Cap Growth		37,646,669		17,107,046		1,074,322		(45,781	)		1,571,507		59,193,331
TIAA-CREF Large-Cap Value		36,180,114		19,199,260		815,380		(29,234	)		1,178,852		63,649,697
TIAA-CREF Mid-Cap Growth		2,789,254		1,004,225		510,276		(22,050	)		180,747		3,603,647
TIAA-CREF Mid-Cap Value		2,775,716		1,560,861		482,629		234			126,633		4,361,801
TIAA-CREF Small-Cap Equity		15,397,651		7,551,105		450,168		(40,037	)		638,803		25,412,307
	$	306,504,674	$	171,725,621	$	25,095,815	$	(909,855	)	$	15,028,341	$	506,950,508
Lifecycle 2050
TIAA-CREF Bond Plus	$	10,356,181	$	4,646,581	$	4,019,266	$	52,118		$	355,547	$	11,066,469
TIAA-CREF Emerging Markets Equity		9,554,803		5,353,213		501,754		(77,204	)		165,484		16,939,153
TIAA-CREF Enhanced International Equity Index		13,388,348		6,998,718		2,502,789		(219,153	)		675,904		21,346,548
TIAA-CREF Enhanced Large-Cap Growth Index		20,219,671		10,924,423		984,363		(43,236	)		1,346,674		31,545,071
TIAA-CREF Enhanced Large-Cap Value Index		19,491,061		11,697,527		859,719		(34,683	)		1,242,498		34,117,012
TIAA-CREF Global Natural Resources		3,620,332		2,775,644		133,405		(12,765	)		113,528		6,785,830
TIAA-CREF Growth & Income		16,940,989		9,893,079		401,257		(19,588	)		1,288,005		28,488,206
TIAA-CREF High-Yield		6,887,687		9,574,171		418,083		(6,147	)		552,481		16,600,110
TIAA-CREF International Equity		13,299,296		7,867,324		1,821,444		(88,143	)		403,114		24,168,142
TIAA-CREF Large-Cap Growth		20,233,379		9,593,010		504,770		(25,715	)		852,563		32,308,856
TIAA-CREF Large-Cap Value		19,463,740		10,814,375		467,093		(21,370	)		639,465		34,739,715
TIAA-CREF Mid-Cap Growth		1,493,224		580,660		280,487		(11,546	)		98,038		1,966,709
TIAA-CREF Mid-Cap Value		1,490,362		875,528		260,399		173			68,710		2,380,758
TIAA-CREF Small-Cap Equity		8,286,079		4,235,586		246,614		(23,923	)		346,507		13,857,184
	$	164,725,152	$	95,829,839	$	13,401,443	$	(531,182	)	$	8,148,518	$	276,309,763

15

TIAA-CREF Lifecycle Funds – Notes to Schedules of Investments (unaudited)

Issue	Value at May 31, 2012		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at February 28, 2013
Lifecycle 2055
TIAA-CREF Bond Plus	$	880,104	$	587,935	$	395,754	$	3,923		$	32,126	$	1,079,524
TIAA-CREF Emerging Markets Equity		810,569		711,164		106,840		(16,940	)		15,030		1,650,918
TIAA-CREF Enhanced International Equity Index		1,134,661		905,870		290,763		(44,638	)		61,388		2,083,411
TIAA-CREF Enhanced Large-Cap Growth Index		1,706,775		1,434,087		204,601		(9,728	)		122,323		3,070,499
TIAA-CREF Enhanced Large-Cap Value Index		1,645,954		1,501,136		175,756		(5,947	)		112,875		3,321,284
TIAA-CREF Global Natural Resources		306,720		346,295		38,203		(2,481	)		10,314		661,352
TIAA-CREF Growth & Income		1,430,440		1,268,616		114,973		(2,554	)		116,613		2,773,401
TIAA-CREF High-Yield		585,040		1,073,924		93,285		(889	)		50,267		1,615,015
TIAA-CREF International Equity		1,127,833		1,055,180		292,187		(43,499	)		36,615		2,355,806
TIAA-CREF Large-Cap Growth		1,707,871		1,325,650		162,079		(4,536	)		77,441		3,145,922
TIAA-CREF Large-Cap Value		1,643,767		1,425,899		141,372		(3,931	)		58,070		3,381,303
TIAA-CREF Mid-Cap Growth		126,029		86,208		38,839		(3,114	)		8,904		191,544
TIAA-CREF Mid-Cap Value		125,809		109,542		29,844		(823	)		6,238		231,712
TIAA-CREF Small-Cap Equity		699,950		577,828		77,903		(5,901	)		31,471		1,349,047
	$	13,931,522	$	12,409,334	$	2,162,399	$	(141,058	)	$	739,675	$	26,910,738

Note 4—investments

Net unrealized appreciation (depreciation): At February 28, 2013, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation, was as follows:

Fund	Book cost		Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Lifecycle Retirement Income	$	176,138,770	$	18,671,302	$	—		$	18,671,302
Lifecycle 2010		783,578,329		93,918,918		—			93,918,918
Lifecycle 2015		1,194,274,136		98,915,340		(859,935	)		98,055,405
Lifecycle 2020		1,528,386,387		146,185,733		—			146,185,733
Lifecycle 2025		1,469,326,561		155,912,461		—			155,912,461
Lifecycle 2030		1,379,892,966		169,103,488		—			169,103,488
Lifecycle 2035		1,369,292,126		189,548,441		(381,065	)		189,167,376
Lifecycle 2040		1,841,039,817		272,929,446		—			272,929,446
Lifecycle 2045		444,702,519		62,247,989		—			62,247,989
Lifecycle 2050		243,530,777		32,778,986		—			32,778,986
Lifecycle 2055		25,182,487		1,728,251		—			1,728,251

16

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index Retirement Income Fund

TIAA-CREF LIFECYCLE INDEX FUNDS

LIFECYCLE INDEX RETIREMENT INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 100.0%(a)
FIXED INCOME - 50.0%
1,063,782	TIAA-CREF Bond Index Fund	$	11,637,777
	TOTAL FIXED INCOME		11,637,777
INFLATION-PROTECTED ASSETS - 10.0%
188,140	TIAA-CREF Inflation-Linked Bond Fund		2,329,169
	TOTAL INFLATION-PROTECTED ASSETS		2,329,169
INTERNATIONAL EQUITY - 9.8%
53,726	TIAA-CREF Emerging Markets Equity Index Fund		581,848
101,906	TIAA-CREF International Equity Index Fund		1,700,813
	TOTAL INTERNATIONAL EQUITY		2,282,661
U.S. EQUITY - 30.2%
607,492	TIAA-CREF Equity Index Fund		7,010,454
	TOTAL U.S. EQUITY		7,010,454
	TOTAL TIAA-CREF FUNDS		23,260,061
	(Cost $21,173,919)
	TOTAL INVESTMENTS - 100.0%		23,260,061
	(Cost $21,173,919)
	OTHER ASSETS & LIABILITIES, NET - 0.0%		(2,497	)
	NET ASSETS - 100.0%	$	23,257,564

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

1

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2010 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS

LIFECYCLE INDEX 2010 FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES	COMPANY		VALUE
TIAA-CREF FUNDS - 99.9%(a)
FIXED INCOME - 45.5%
4,734,268	TIAA-CREF Bond Index Fund	$	51,792,890
	TOTAL FIXED INCOME		51,792,890
INFLATION-PROTECTED ASSETS - 7.1%
648,663	TIAA-CREF Inflation-Linked Bond Fund		8,030,447
	TOTAL INFLATION-PROTECTED ASSETS		8,030,447
INTERNATIONAL EQUITY - 11.6%
309,633	TIAA-CREF Emerging Markets Equity Index Fund		3,353,325
587,250	TIAA-CREF International Equity Index Fund		9,801,200
	TOTAL INTERNATIONAL EQUITY		13,154,525
U.S. EQUITY - 35.7%
3,512,173	TIAA-CREF Equity Index Fund		40,530,478
	TOTAL U.S. EQUITY		40,530,478
	TOTAL TIAA-CREF FUNDS		113,508,340
	(Cost $101,494,638)
	TOTAL INVESTMENTS - 99.9%		113,508,340
	(Cost $101,494,638)
	OTHER ASSETS & LIABILITIES, NET - 0.1%		58,266
	NET ASSETS - 100.0%	$	113,566,606

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

2

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2015 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2015 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 41.0%
7,424,444	TIAA-CREF Bond Index Fund	$	81,223,422
	TOTAL FIXED INCOME		81,223,422
INFLATION-PROTECTED ASSETS - 5.1%
807,387	TIAA-CREF Inflation-Linked Bond Fund		9,995,446
	TOTAL INFLATION-PROTECTED ASSETS		9,995,446
INTERNATIONAL EQUITY - 13.2%
612,736	TIAA-CREF Emerging Markets Equity Index Fund		6,635,931
1,163,268	TIAA-CREF International Equity Index Fund		19,414,936
	TOTAL INTERNATIONAL EQUITY		26,050,867
U.S. EQUITY - 40.3%
6,905,309	TIAA-CREF Equity Index Fund		79,687,272
	TOTAL U.S. EQUITY		79,687,272
	TOTAL TIAA-CREF FUNDS		196,957,007
	(Cost $176,751,416)
	TOTAL INVESTMENTS - 99.6%		196,957,007
	(Cost $176,751,416)
	OTHER ASSETS & LIABILITIES, NET - 0.4%		829,396
	NET ASSETS - 100.0%	$	197,786,403

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

3

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2020 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2020 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 35.1%
8,526,726	TIAA-CREF Bond Index Fund	$	93,282,386
	TOTAL FIXED INCOME		93,282,386
INFLATION-PROTECTED ASSETS - 3.1%
656,895	TIAA-CREF Inflation-Linked Bond Fund		8,132,361
	TOTAL INFLATION-PROTECTED ASSETS		8,132,361
INTERNATIONAL EQUITY - 15.2%
951,688	TIAA-CREF Emerging Markets Equity Index Fund		10,306,776
1,805,704	TIAA-CREF International Equity Index Fund		30,137,198
	TOTAL INTERNATIONAL EQUITY		40,443,974
U.S. EQUITY - 46.2%
10,645,970	TIAA-CREF Equity Index Fund		122,854,491
	TOTAL U.S. EQUITY		122,854,491
	TOTAL TIAA-CREF FUNDS		264,713,212
	(Cost $237,522,721)
	TOTAL INVESTMENTS - 99.6%		264,713,212
	(Cost $237,522,721)
	OTHER ASSETS & LIABILITIES, NET - 0.4%		1,161,288
	NET ASSETS - 100.0%	$	265,874,500

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

4

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2025 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS

LIFECYCLE INDEX 2025 FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.7%(a)
FIXED INCOME - 29.2%
6,850,692	TIAA-CREF Bond Index Fund	$	74,946,568
	TOTAL FIXED INCOME		74,946,568
INFLATION-PROTECTED ASSETS - 1.1%
221,288	TIAA-CREF Inflation-Linked Bond Fund		2,739,541
	TOTAL INFLATION-PROTECTED ASSETS		2,739,541
INTERNATIONAL EQUITY - 17.0%
1,028,795	TIAA-CREF Emerging Markets Equity Index Fund		11,141,855
1,957,118	TIAA-CREF International Equity Index Fund		32,664,294
	TOTAL INTERNATIONAL EQUITY		43,806,149
U.S. EQUITY - 52.4%
11,685,240	TIAA-CREF Equity Index Fund		134,847,673
	TOTAL U.S. EQUITY		134,847,673
	TOTAL TIAA-CREF FUNDS		256,339,931
	(Cost $228,945,218)
	TOTAL INVESTMENTS - 99.7%		256,339,931
	(Cost $228,945,218)
	OTHER ASSETS & LIABILITIES, NET - 0.3%		888,233
	NET ASSETS - 100.0%	$	257,228,164

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

5

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2030 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS

LIFECYCLE INDEX 2030 FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 22.2%
5,426,826	TIAA-CREF Bond Index Fund	$	59,369,477
	TOTAL FIXED INCOME		59,369,477
INTERNATIONAL EQUITY - 19.1%
1,200,829	TIAA-CREF Emerging Markets Equity Index Fund		13,004,977
2,282,492	TIAA-CREF International Equity Index Fund		38,094,794
	TOTAL INTERNATIONAL EQUITY		51,099,771
U.S. EQUITY - 58.3%
13,499,245	TIAA-CREF Equity Index Fund		155,781,287
	TOTAL U.S. EQUITY		155,781,287
	TOTAL TIAA-CREF FUNDS		266,250,535
	(Cost $234,690,652)
	TOTAL INVESTMENTS - 99.6%		266,250,535
	(Cost $234,690,652)
	OTHER ASSETS & LIABILITIES, NET - 0.4%		992,215
	NET ASSETS - 100.0%	$	267,242,750

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

6

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2035 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS

LIFECYCLE INDEX 2035 FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.5%(a)
FIXED INCOME - 14.2%
3,331,503	TIAA-CREF Bond Index Fund	$	36,446,639
	TOTAL FIXED INCOME		36,446,639
INTERNATIONAL EQUITY - 21.0%
1,264,717	TIAA-CREF Emerging Markets Equity Index Fund		13,696,884
2,405,092	TIAA-CREF International Equity Index Fund		40,140,992
	TOTAL INTERNATIONAL EQUITY		53,837,876
U.S. EQUITY - 64.3%
14,279,243	TIAA-CREF Equity Index Fund		164,782,468
	TOTAL U.S. EQUITY		164,782,468
	TOTAL TIAA-CREF FUNDS		255,066,983
	(Cost $223,192,926)
	TOTAL INVESTMENTS - 99.5%		255,066,983
	(Cost $223,192,926)
	OTHER ASSETS & LIABILITIES, NET - 0.5%		1,242,763
	NET ASSETS - 100.0%	$	256,309,746

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

7

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2040 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2040 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.5%(a)
FIXED INCOME - 10.0%
2,848,518	TIAA-CREF Bond Index Fund	$	31,162,784
	TOTAL FIXED INCOME		31,162,784
INTERNATIONAL EQUITY - 22.3%
1,638,844	TIAA-CREF Emerging Markets Equity Index Fund		17,748,678
3,111,798	TIAA-CREF International Equity Index Fund		51,935,914
	TOTAL INTERNATIONAL EQUITY		69,684,592
U.S. EQUITY - 67.2%
18,220,722	TIAA-CREF Equity Index Fund		210,267,136
	TOTAL U.S. EQUITY		210,267,136
	TOTAL TIAA-CREF FUNDS		311,114,512
	(Cost $267,704,819)
	TOTAL INVESTMENTS - 99.5%		311,114,512
	(Cost $267,704,819)
	OTHER ASSETS & LIABILITIES, NET - 0.5%		1,496,678
	NET ASSETS - 100.0%	$	312,611,190

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

8

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2045 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2045 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.3%(a)
FIXED INCOME - 10.0%
1,080,388	TIAA-CREF Bond Index Fund	$	11,819,444
	TOTAL FIXED INCOME		11,819,444
INTERNATIONAL EQUITY - 22.1%
617,639	TIAA-CREF Emerging Markets Equity Index Fund		6,689,030
1,173,267	TIAA-CREF International Equity Index Fund		19,581,821
	TOTAL INTERNATIONAL EQUITY		26,270,851
U.S. EQUITY - 67.2%
6,924,533	TIAA-CREF Equity Index Fund		79,909,107
	TOTAL U.S. EQUITY		79,909,107
	TOTAL TIAA-CREF FUNDS		117,999,402
	(Cost $104,959,397)
	TOTAL INVESTMENTS - 99.3%		117,999,402
	(Cost $104,959,397)
	OTHER ASSETS & LIABILITIES, NET - 0.7%		866,703
	NET ASSETS - 100.0%	$	118,866,105

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

9

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2050 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2050 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.3%(a)
FIXED INCOME - 10.0%
697,228	TIAA-CREF Bond Index Fund	$	7,627,672
	TOTAL FIXED INCOME		7,627,672
INTERNATIONAL EQUITY - 22.0%
397,032	TIAA-CREF Emerging Markets Equity Index Fund		4,299,851
754,606	TIAA-CREF International Equity Index Fund		12,594,377
	TOTAL INTERNATIONAL EQUITY		16,894,228
U.S. EQUITY - 67.3%
4,473,904	TIAA-CREF Equity Index Fund		51,628,848
	TOTAL U.S. EQUITY		51,628,848
	TOTAL TIAA-CREF FUNDS		76,150,748
	(Cost $67,663,816)
	TOTAL INVESTMENTS - 99.3%		76,150,748
	(Cost $67,663,816)
	OTHER ASSETS & LIABILITIES, NET - 0.7%		512,822
	NET ASSETS - 100.0%	$	76,663,570

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

10

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2055 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2055 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 10.0%
134,430	TIAA-CREF Bond Index Fund	$	1,470,660
	TOTAL FIXED INCOME		1,470,660
INTERNATIONAL EQUITY - 22.1%
76,398	TIAA-CREF Emerging Markets Equity Index Fund		827,394
145,162	TIAA-CREF International Equity Index Fund		2,422,752
	TOTAL INTERNATIONAL EQUITY		3,250,146
U.S. EQUITY - 67.7%
863,212	TIAA-CREF Equity Index Fund		9,961,471
	TOTAL U.S. EQUITY		9,961,471
	TOTAL TIAA-CREF FUNDS		14,682,277
	(Cost $13,795,560)
	TOTAL INVESTMENTS - 99.8%		14,682,277
	(Cost $13,795,560)
	OTHER ASSETS & LIABILITIES, NET - 0.2%		34,430
	NET ASSETS - 100.0%	$	14,716,707

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

11

TIAA-CREF Lifecycle Index Funds – Notes to Schedules of Investments (unaudited)

Note 1—organization and significant accounting policies

The Lifecycle Index Funds (collectively the “Funds,” each individually referred to as a “Fund”) are a sub-family of mutual funds offered by the TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, that is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), 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 other funds of the Trust and potentially other investment pools or investment products. 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 Teachers Insurance and Annuity Association of America (“TIAA”). Teachers Advisors, Inc. (“Advisors”), a wholly owned indirect subsidiary of TIAA, is registered with the Commission as an investment adviser and provides investment management services for the Funds. The Funds offer Institutional, Retirement and Premier Classes of shares. Each class differs by the allocation of class-specific expenses and voting rights in matters affecting a single class.

The accompanying schedules of investments were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. 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 consistently followed by the Funds.

Security valuation: The Funds’ investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the schedules of investments.

Investment transactions: Securities transactions are accounted for as of the trade date for financial reporting purposes.

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

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:

• 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 spreads, etc.)

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

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Funds’ major categories of assets and liabilities measured at fair value follows:

Investments in registered investment companies: These investments are valued at net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.

Transfers between levels are recognized at the end of the reporting period. As of February 28, 2013, there were no transfers between levels by the Funds.

As of February 28, 2013, all of the investments in the Lifecycle Index Funds were valued based on Level 1 inputs.

12

TIAA-CREF Lifecycle Index Funds – Notes to Schedules of Investments (unaudited)

Note 3—affiliates

Investments in other investment companies advised by Advisors are deemed to be affiliated investments. The Funds invest their assets in Institutional Class shares of the affiliated TIAA-CREF Funds. Information regarding transactions with affiliated companies is as follows:

Issue	Value at May 31, 2012		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at February 28, 2013
Lifecycle Index Retirement Income
TIAA-CREF Bond Index	$	7,372,835	$	5,356,583	$	1,072,821	$	(5,008	)	$	138,677	$	11,637,777
TIAA-CREF Emerging Markets Equity Index		380,733		243,487		118,971		(9,808	)		8,370		581,848
TIAA-CREF Equity Index		4,354,657		2,856,938		984,755		475			150,911		7,010,454
TIAA-CREF Inflation-Linked Bond		1,480,252		1,096,063		224,867		(2,746	)		43,840		2,329,169
TIAA-CREF International Equity Index		1,064,670		697,499		323,560		(1,650	)		50,836		1,700,813
	$	14,653,147	$	10,250,570	$	2,724,974	$	(18,737	)	$	392,634	$	23,260,061
Lifecycle Index 2010
TIAA-CREF Bond Index	$	36,579,175	$	17,373,722	$	2,088,967	$	(10,362	)	$	648,745	$	51,792,890
TIAA-CREF Emerging Markets Equity Index		2,515,358		897,656		532,255		(47,569	)		48,069		3,353,325
TIAA-CREF Equity Index		28,774,018		10,524,289		3,704,534		45,376			866,225		40,530,478
TIAA-CREF Inflation-Linked Bond		5,498,823		3,000,943		394,679		(3,952	)		153,701		8,030,447
TIAA-CREF International Equity Index		7,033,112		2,442,901		1,360,306		(23,737	)		291,850		9,801,200
	$	80,400,486	$	34,239,511	$	8,080,741	$	(40,244	)	$	2,008,590	$	113,508,340
Lifecycle Index 2015
TIAA-CREF Bond Index	$	51,530,047	$	32,225,074	$	2,379,285	$	(10,566	)	$	959,297	$	81,223,422
TIAA-CREF Emerging Markets Equity Index		4,534,230		2,044,517		792,715		(72,088	)		93,256		6,635,931
TIAA-CREF Equity Index		51,873,954		23,620,919		5,028,575		35,811			1,680,523		79,687,272
TIAA-CREF Inflation-Linked Bond		6,111,276		4,320,421		340,716		(2,756	)		178,684		9,995,446
TIAA-CREF International Equity Index		12,679,431		5,669,149		2,044,663		(54,803	)		566,207		19,414,936
	$	126,728,938	$	67,880,080	$	10,585,954	$	(104,402	)	$	3,477,967	$	196,957,007
Lifecycle Index 2020
TIAA-CREF Bond Index	$	54,459,629	$	41,297,735	$	2,277,995	$	(8,809	)	$	1,054,539	$	93,282,386
TIAA-CREF Emerging Markets Equity Index		6,436,516		3,625,508		974,130		(87,171	)		140,845		10,306,776
TIAA-CREF Equity Index		73,747,498		41,441,681		5,968,244		(11,106	)		2,538,955		122,854,491
TIAA-CREF Inflation-Linked Bond		4,401,974		4,065,403		258,782		(2,475	)		135,045		8,132,361
TIAA-CREF International Equity Index		18,007,275		10,357,661		2,752,944		(66,142	)		855,410		30,137,198
	$	157,052,892	$	100,787,988	$	12,232,095	$	(175,703	)	$	4,724,794	$	264,713,212
Lifecycle Index 2025
TIAA-CREF Bond Index	$	41,249,153	$	35,628,296	$	1,752,134	$	(6,185	)	$	824,291	$	74,946,568
TIAA-CREF Emerging Markets Equity Index		6,640,842		4,042,878		815,751		(87,395	)		152,956		11,141,855
TIAA-CREF Equity Index		76,167,211		48,960,258		4,762,341		(31,404	)		2,757,678		134,847,673
TIAA-CREF Inflation-Linked Bond		1,111,167		1,714,351		61,066		(704	)		38,696		2,739,541
TIAA-CREF International Equity Index		18,573,617		11,457,605		2,157,531		(98,508	)		929,006		32,664,294
	$	143,741,990	$	101,803,388	$	9,548,823	$	(224,196	)	$	4,702,627	$	256,339,931
Lifecycle Index 2030
TIAA-CREF Bond Index	$	33,133,138	$	26,888,685	$	519,344	$	(463	)	$	654,660	$	59,369,477
TIAA-CREF Emerging Markets Equity Index		7,926,601		4,303,214		722,856		(90,688	)		175,532		13,004,977
TIAA-CREF Equity Index		91,179,745		50,093,926		2,539,658		3,946			3,164,640		155,781,287
TIAA-CREF International Equity Index		22,164,187		12,112,460		1,877,478		(138,679	)		1,066,051		38,094,794
	$	154,403,671	$	93,398,285	$	5,659,336	$	(225,884	)	$	5,060,883	$	266,250,535
Lifecycle Index 2035
TIAA-CREF Bond Index	$	19,479,702	$	17,607,183	$	554,362	$	26		$	390,433	$	36,446,639
TIAA-CREF Emerging Markets Equity Index		8,067,856		4,653,613		572,911		(83,773	)		183,137		13,696,884
TIAA-CREF Equity Index		94,795,777		53,675,488		1,516,942		(15,649	)		3,301,750		164,782,468
TIAA-CREF International Equity Index		22,534,533		12,965,698		1,273,728		(129,910	)		1,112,239		40,140,992
	$	144,877,868	$	88,901,982	$	3,917,943	$	(229,306	)	$	4,987,559	$	255,066,983
Lifecycle Index 2040
TIAA-CREF Bond Index	$	20,144,236	$	12,101,241	$	1,023,950	$	1,629		$	362,309	$	31,162,784
TIAA-CREF Emerging Markets Equity Index		11,186,075		5,267,119		798,848		(116,650	)		235,354		17,748,678
TIAA-CREF Equity Index		131,612,674		56,380,752		1,417,407		(32,554	)		4,243,193		210,267,136
TIAA-CREF International Equity Index		31,251,659		14,701,879		2,012,164		(217,398	)		1,429,376		51,935,914
	$	194,194,644	$	88,450,991	$	5,252,369	$	(364,973	)	$	6,270,232	$	311,114,512
Lifecycle Index 2045
TIAA-CREF Bond Index	$	5,766,581	$	6,297,444	$	207,547	$	(422	)	$	125,987	$	11,819,444
TIAA-CREF Emerging Markets Equity Index		3,195,248		3,009,401		184,973		(22,861	)		90,666		6,689,030
TIAA-CREF Equity Index		37,682,520		34,918,715		739,515		(16,996	)		1,633,853		79,909,107
TIAA-CREF International Equity Index		8,946,840		8,450,814		408,147		(31,868	)		550,480		19,581,821
	$	55,591,189	$	52,676,374	$	1,540,182	$	(72,147	)	$	2,400,986	$	117,999,402

13

TIAA-CREF Lifecycle Index Funds – Notes to Schedules of Investments (unaudited)

Issue	Value at May 31, 2012		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at February 28, 2013
Lifecycle Index 2050
TIAA-CREF Bond Index	$	3,739,239	$	3,991,615	$	81,955	$	(287	)	$	80,006	$	7,627,672
TIAA-CREF Emerging Markets Equity Index		2,077,920		1,900,946		102,801		(12,462	)		56,447		4,299,851
TIAA-CREF Equity Index		24,425,781		22,478,607		414,603		(5,798	)		1,017,280		51,628,848
TIAA-CREF International Equity Index		5,804,102		5,340,308		198,998		(15,549	)		342,736		12,594,377
	$	36,047,042	$	33,711,476	$	798,357	$	(34,096	)	$	1,496,469	$	76,150,748
Lifecycle Index 2055
TIAA-CREF Bond Index	$	1,067,942	$	444,435	$	39,741	$	218		$	18,165	$	1,470,660
TIAA-CREF Emerging Markets Equity Index		593,673		163,762		37,959		(6,485	)		11,147		827,394
TIAA-CREF Equity Index		6,970,868		1,853,309		59,387		(446	)		200,960		9,961,471
TIAA-CREF International Equity Index		1,662,730		420,328		69,461		(10,407	)		67,696		2,422,752
	$	10,295,213	$	2,881,834	$	206,548	$	(17,120	)	$	297,968	$	14,682,277

Note 4—investments

Net unrealized appreciation (depreciation): At February 28, 2013, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation, was as follows:

Fund	Book cost		Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Lifecycle Index Retirement Income	$	21,173,919	$	2,086,142	$	-		$	2,086,142
Lifecycle Index 2010		101,494,638		12,013,702		-			12,013,702
Lifecycle Index 2015		176,751,416		20,205,591		-			20,205,591
Lifecycle Index 2020		237,522,721		27,190,491		-			27,190,491
Lifecycle Index 2025		228,945,218		27,394,713		-			27,394,713
Lifecycle Index 2030		234,690,652		31,559,883		-			31,559,883
Lifecycle Index 2035		223,192,926		31,874,057		-			31,874,057
Lifecycle Index 2040		267,704,819		43,409,693		-			43,409,693
Lifecycle Index 2045		104,959,397		13,040,005		-			13,040,005
Lifecycle Index 2050		67,663,816		8,486,932		-			8,486,932
Lifecycle Index 2055		13,795,560		956,388		(69,671	)		886,717

14

TIAA-CREF Funds – Managed Allocation Fund

TIAA-CREF FUNDS
MANAGED ALLOCATION FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 99.9%(a)
FIXED INCOME - 40.0%
21,797,904	TIAA-CREF Bond Plus Fund	$	234,981,404
1,188,470	TIAA-CREF High-Yield Fund		12,419,513
	TOTAL FIXED INCOME		247,400,917
INTERNATIONAL EQUITY - 15.5%
2,351,884	TIAA-CREF Emerging Markets Equity Fund		26,388,133
4,279,210	TIAA-CREF Enhanced International Equity Index Fund		31,067,065
144,554	TIAA-CREF Global Natural Resources Fund		1,486,011
3,793,382	TIAA-CREF International Equity Fund		37,099,280
	TOTAL INTERNATIONAL EQUITY		96,040,489
U.S. EQUITY - 44.4%
4,955,135	TIAA-CREF Enhanced Large-Cap Growth Index Fund		48,263,013
5,743,385	TIAA-CREF Enhanced Large-Cap Value Index Fund		52,149,932
4,116,302	TIAA-CREF Growth & Income Fund		43,879,779
4,014,268	TIAA-CREF Large-Cap Growth Fund		49,656,501
3,509,666	TIAA-CREF Large-Cap Value Fund		53,803,186
134,898	TIAA-CREF Mid-Cap Growth Fund		2,805,870
171,540	TIAA-CREF Mid-Cap Value Fund		3,417,077
1,356,570	TIAA-CREF Small-Cap Equity Fund		21,501,628
	TOTAL U.S. EQUITY		275,476,986
	TOTAL TIAA-CREF FUNDS		618,918,392
	(Cost $571,592,419)
	TOTAL INVESTMENTS - 99.9%		618,918,392
	(Cost $571,592,419)
	OTHER ASSETS & LIABILITIES, NET - 0.1%		346,104
	NET ASSETS - 100.0%	$	619,264,496

(a) The Fund invests it’s assets in Institutional Class shares of the affiliated TIAA-CREF Funds.

1

TIAA-CREF Managed Allocation Fund – Notes to Schedule of Investments (unaudited)

Note 1—organization and significant accounting policies

The TIAA-CREF Managed Allocation Fund (the “Fund”) is one of the investment portfolios of the TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, that is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company.

The Fund offers its shares, without a sales load, through its principal underwriter, Teachers Personal Investors Services, Inc. (“TPIS”), which is a wholly owned indirect subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”). Teachers Advisors, Inc. (“Advisors”), a wholly owned indirect subsidiary of TIAA, is registered with the Commission as an investment adviser and provides investment management services for the Fund. The Fund offers three share classes: 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.

The accompanying schedule of investments was prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. 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 consistently followed by the Fund.

Security valuation: The Fund’s investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the schedule of investments.

Investment transactions: Securities transactions are accounted for as of the trade date for financial reporting purposes.

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

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:

• 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 spreads, etc.)

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

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Fund’s major categories of assets and liabilities measured at fair value follows:

Investments in registered investment companies: These investments are valued at net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.

Transfers between levels are recognized at the end of the reporting period. For the period ended February 28, 2013, there were no transfers between levels by the Fund.

As of February 28, 2013, all of the investments in the Fund were valued based on Level 1 inputs.

2

TIAA-CREF Managed Allocation Fund – Notes to Schedule of Investments (unaudited)

Note 3—affiliates

Investments in other investment companies advised by Advisors are deemed to be affiliated investments. The Fund invests its assets in Institutional Class shares of the affiliated TIAA-CREF Funds. Information regarding transactions with affiliated companies is as follows:

Issue	Value at May 31,2012		Purchases cost		Sales proceeds		Realizedgain (loss)		Dividend income		Value at February 28,2013
Managed Allocation
TIAA-CREF Bond Plus	$	227,702,125	$	29,881,372	$	23,230,869	$	2,175,395	$	8,223,958	$	234,981,404
TIAA-CREF Emerging Markets Equity		21,825,293		4,180,514		3,889,246		449,455		289,473		26,388,133
TIAA-CREF Enhanced International Equity Index		30,609,757		4,533,907		9,559,874		594,075		1,063,299		31,067,065
TIAA-CREF Enhanced Large-Cap Growth Index		47,166,686		3,918,480		3,908,344		1,773,061		2,307,851		48,263,013
TIAA-CREF Enhanced Large-Cap Value Index		45,449,291		4,044,834		3,288,864		1,264,761		2,127,015		52,149,932
TIAA-CREF Global Natural Resources		—		1,554,786		108,817		6,334		28,281		1,486,011
TIAA-CREF Growth & Income		39,485,727		3,429,489		1,849,421		1,273,713		2,280,883		43,879,779
TIAA-CREF High-Yield		—		12,497,811		301,864		4,597		360,193		12,419,513
TIAA-CREF International Equity		30,422,817		7,545,661		8,953,353		1,237,104		720,884		37,099,280
TIAA-CREF Large-Cap Growth		47,190,572		2,332,204		4,758,469		838,379		1,484,916		49,656,501
TIAA-CREF Large-Cap Value		45,525,764		2,642,390		2,799,956		794,333		1,112,431		53,803,186
TIAA-CREF Mid-Cap Growth		3,467,641		238,969		653,911		547,394		157,053		2,805,870
TIAA-CREF Mid-Cap Value		3,486,992		374,213		542,679		393,616		111,200		3,417,077
TIAA-CREF Small-Cap Equity		19,308,982		1,249,254		1,500,737		516,505		601,903		21,501,628
	$	561,641,647	$	78,423,884	$	65,346,404	$	11,868,722	$	20,869,340	$	618,918,392

Note 4—investments

Net unrealized appreciation (depreciation): At February 28, 2013, the cost of portfolio investments for federal income tax purposes was $571,592,419. Net unrealized appreciation (depreciation) of portfolio investments for federal income tax purposes was $47,325,973, consisting of gross unrealized appreciation of $57,083,907 and gross unrealized depreciation of $9,757,934.

3

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Income Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 101.1%(a)
FIXED INCOME - 40.5%
334,340	TIAA-CREF Bond Fund	$	3,560,717
367,075	TIAA-CREF Bond Plus Fund		3,957,066
38,005	TIAA-CREF High-Yield Fund		397,151
	TOTAL FIXED INCOME		7,914,934
INTERNATIONAL EQUITY - 6.7%
33,366	TIAA-CREF Emerging Markets Equity Fund		374,362
35,389	TIAA-CREF Enhanced International Equity Index Fund		256,921
4,970	TIAA-CREF Global Natural Resources Fund		51,092
65,050	TIAA-CREF International Equity Fund		636,192
	TOTAL INTERNATIONAL EQUITY		1,318,567
SHORT-TERM FIXED INCOME - 40.4%
751,348	TIAA-CREF Short-Term Bond Fund		7,904,186
	TOTAL SHORT-TERM FIXED INCOME		7,904,186
U.S. EQUITY - 13.5%
20,346	TIAA-CREF Enhanced Large-Cap Growth Index Fund		198,166
23,992	TIAA-CREF Enhanced Large-Cap Value Index Fund		217,845
54,822	TIAA-CREF Growth & Income Fund		584,398
53,581	TIAA-CREF Large-Cap Growth Fund		662,795
46,488	TIAA-CREF Large-Cap Value Fund		712,669
1,077	TIAA-CREF Mid-Cap Growth Fund		22,406
1,555	TIAA-CREF Mid-Cap Value Fund		30,975
13,451	TIAA-CREF Small-Cap Equity Fund		213,197
	TOTAL U.S. EQUITY		2,642,451
	TOTAL TIAA-CREF FUNDS		19,780,138
	(Cost $19,103,659)
	TOTAL INVESTMENTS - 101.1%		19,780,138
	(Cost $19,103,659)
	OTHER ASSETS & LIABILITIES, NET - (1.1)%		(222,224	)
	NET ASSETS - 100.0%	$	19,557,914

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

1

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Conservative Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE CONSERVATIVE FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 100.0%(a)
FIXED INCOME - 40.0%
192,814	TIAA-CREF Bond Fund	$	2,053,467
715,011	TIAA-CREF Bond Plus Fund		7,707,817
49,363	TIAA-CREF High-Yield Fund		515,847
	TOTAL FIXED INCOME		10,277,131
INTERNATIONAL EQUITY - 12.6%
74,987	TIAA-CREF Emerging Markets Equity Fund		841,349
109,617	TIAA-CREF Enhanced International Equity Index Fund		795,818
6,426	TIAA-CREF Global Natural Resources Fund		66,062
155,390	TIAA-CREF International Equity Fund		1,519,713
	TOTAL INTERNATIONAL EQUITY		3,222,942
SHORT-TERM FIXED INCOME - 20.0%
488,003	TIAA-CREF Short-Term Bond Fund		5,133,796
	TOTAL SHORT-TERM FIXED INCOME		5,133,796
U.S. EQUITY - 27.4%
59,340	TIAA-CREF Enhanced Large-Cap Growth Index Fund		577,973
69,283	TIAA-CREF Enhanced Large-Cap Value Index Fund		629,089
142,011	TIAA-CREF Growth & Income Fund		1,513,834
138,799	TIAA-CREF Large-Cap Growth Fund		1,716,948
120,423	TIAA-CREF Large-Cap Value Fund		1,846,078
4,355	TIAA-CREF Mid-Cap Growth Fund		90,584
5,654	TIAA-CREF Mid-Cap Value Fund		112,633
34,842	TIAA-CREF Small-Cap Equity Fund		552,248
	TOTAL U.S. EQUITY		7,039,387
	TOTAL TIAA-CREF FUNDS		25,673,256
	(Cost $24,327,116)
	TOTAL INVESTMENTS - 100.0%		25,673,256
	(Cost $24,327,116)
	OTHER ASSETS & LIABILITIES, NET - 0.0%		8,504
	NET ASSETS - 100.0%	$	25,681,760

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

2

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Moderate Fund

TIAA-CREF LIFESTYLE FUNDS
LIFESTYLE MODERATE FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 98.9%(a)
FIXED INCOME - 39.6%
924,034	TIAA-CREF Bond Plus Fund	$	9,961,084
50,160	TIAA-CREF High-Yield Fund		524,174
	TOTAL FIXED INCOME		10,485,258
INTERNATIONAL EQUITY - 18.3%
109,300	TIAA-CREF Emerging Markets Equity Fund		1,226,350
177,376	TIAA-CREF Enhanced International Equity Index Fund		1,287,747
6,566	TIAA-CREF Global Natural Resources Fund		67,501
231,946	TIAA-CREF International Equity Fund		2,268,431
	TOTAL INTERNATIONAL EQUITY		4,850,029
U.S. EQUITY - 41.0%
94,014	TIAA-CREF Enhanced Large-Cap Growth Index Fund		915,698
109,537	TIAA-CREF Enhanced Large-Cap Value Index Fund		994,595
216,994	TIAA-CREF Growth & Income Fund		2,313,152
211,900	TIAA-CREF Large-Cap Growth Fund		2,621,202
184,150	TIAA-CREF Large-Cap Value Fund		2,823,026
7,443	TIAA-CREF Mid-Cap Growth Fund		154,813
9,462	TIAA-CREF Mid-Cap Value Fund		188,489
53,279	TIAA-CREF Small-Cap Equity Fund		844,472
	TOTAL U.S. EQUITY		10,855,447
	TOTAL TIAA-CREF FUNDS		26,190,734
	(Cost $24,283,260)
	TOTAL INVESTMENTS - 98.9%		26,190,734
	(Cost $24,283,260)
	OTHER ASSETS & LIABILITIES, NET - 1.1%		283,770
	NET ASSETS - 100.0%	$	26,474,504

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

3

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Growth Fund

TIAA-CREF LIFESTYLE FUNDS
LIFESTYLE GROWTH FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 101.1%(a)
FIXED INCOME - 20.2%
338,543	TIAA-CREF Bond Plus Fund	$	3,649,497
38,971	TIAA-CREF High-Yield Fund		407,244
	TOTAL FIXED INCOME		4,056,741
INTERNATIONAL EQUITY - 24.7%
109,409	TIAA-CREF Emerging Markets Equity Fund		1,227,564
187,368	TIAA-CREF Enhanced International Equity Index Fund		1,360,291
5,055	TIAA-CREF Global Natural Resources Fund		51,962
235,065	TIAA-CREF International Equity Fund		2,298,938
	TOTAL INTERNATIONAL EQUITY		4,938,755
U.S. EQUITY - 56.2%
98,911	TIAA-CREF Enhanced Large-Cap Growth Index Fund		963,395
114,994	TIAA-CREF Enhanced Large-Cap Value Index Fund		1,044,148
224,169	TIAA-CREF Growth & Income Fund		2,389,638
219,098	TIAA-CREF Large-Cap Growth Fund		2,710,247
190,091	TIAA-CREF Large-Cap Value Fund		2,914,098
8,107	TIAA-CREF Mid-Cap Growth Fund		168,623
10,209	TIAA-CREF Mid-Cap Value Fund		203,366
55,004	TIAA-CREF Small-Cap Equity Fund		871,810
	TOTAL U.S. EQUITY		11,265,325
	TOTAL TIAA-CREF FUNDS		20,260,821
	(Cost $18,216,327)
	TOTAL INVESTMENTS - 101.1%		20,260,821
	(Cost $18,216,327)
	OTHER ASSETS & LIABILITIES, NET - (1.1)%		(228,875	)
	NET ASSETS - 100.0%	$	20,031,946

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

4

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Aggressive Growth Fund

TIAA-CREF LIFESTYLE FUNDS
LIFESTYLE AGGRESSIVE GROWTH FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2013

SHARES	COMPANY	VALUE
TIAA-CREF FUNDS - 100.2%(a)
INTERNATIONAL EQUITY - 30.4%
126,826	TIAA-CREF Emerging Markets Equity Fund	$	1,422,992
224,550	TIAA-CREF Enhanced International Equity Index Fund		1,630,236
4,767	TIAA-CREF Global Natural Resources Fund		49,002
274,468	TIAA-CREF International Equity Fund		2,684,293
	TOTAL INTERNATIONAL EQUITY		5,786,523
U.S. EQUITY - 69.8%
117,599	TIAA-CREF Enhanced Large-Cap Growth Index Fund		1,145,412
136,732	TIAA-CREF Enhanced Large-Cap Value Index Fund		1,241,524
263,963	TIAA-CREF Growth & Income Fund		2,813,842
258,078	TIAA-CREF Large-Cap Growth Fund		3,192,421
223,613	TIAA-CREF Large-Cap Value Fund		3,427,994
9,848	TIAA-CREF Mid-Cap Growth Fund		204,833
12,308	TIAA-CREF Mid-Cap Value Fund		245,167
64,801	TIAA-CREF Small-Cap Equity Fund		1,027,090
	TOTAL U.S. EQUITY		13,298,283
	TOTAL TIAA-CREF FUNDS		19,084,806
	(Cost $16,650,384)
	TOTAL INVESTMENTS - 100.2%		19,084,806
	(Cost $16,650,384)
	OTHER ASSETS & LIABILITIES, NET - (0.2)%		(32,869	)
	NET ASSETS - 100.0%	$	19,051,937

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

5

TIAA-CREF Lifestyle Funds – Notes to Schedules of Investments (unaudited)

Note 1—organization and significant accounting policies

The Lifestyle Funds (collectively the “Funds,” each individually referred to as a “Fund”) are a sub-family of mutual funds offered by the TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, that is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), 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 other funds of the Trust and potentially other investment pools or investment products. 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 Teachers Insurance and Annuity Association of America (“TIAA”). 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 Institutional, Retirement, Retail and Premier Classes of shares. Each class differs by the allocation of class-specific expenses and voting rights in matters affecting a single class.

The accompanying schedules of investments were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. 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 consistently followed by the Funds.

Security valuation: The Funds’ investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the schedules of investments.

Investment transactions: Securities transactions are accounted for as of the trade date for financial reporting purposes.

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

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:

• 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 spreads, etc.)

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

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Funds’ major categories of assets and liabilities measured at fair value follows:

Investments in registered investment companies: These investments are valued at net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.

Transfers between levels are recognized at the end of the reporting period. For the period ended February 28, 2013, there were no transfers between levels by the Funds.

As of February 28, 2013, all of the investments in the Lifestyle Funds were valued based on Level 1 inputs.

6

TIAA-CREF Lifestyle Funds – Notes to Schedules of Investments (unaudited)

Note 3—affiliates

Investments in other investment companies advised by Advisors are deemed to be affiliated investments. The Funds invest their assets in Institutional Class shares of the affiliated TIAA-CREF Funds. Information regarding transactions with affiliated companies is as follows:

Issue	Value at May 31, 2012		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at February 28, 2013
Lifestyle Income
TIAA-CREF Bond	$	2,257,836	$	1,602,203	$	279,870	$	(900	)	$	126,737	$	3,560,717
TIAA-CREF Bond Plus		2,255,725		1,827,286		145,273		(399	)		110,500		3,957,066
TIAA-CREF Emerging Markets Equity		159,376		197,068		29,928		(303	)		3,435		374,362
TIAA-CREF Enhanced International Equity Index		200,357		183,547		158,246		6,243			5,223		256,921
TIAA-CREF Enhanced Large-Cap Growth Index		145,307		96,674		52,204		1,224			8,048		198,166
TIAA-CREF Enhanced Large-Cap Value Index		140,011		104,187		48,699		2,444			7,495		217,845
TIAA-CREF Global Natural Resources		—		51,307		1,293		22			792		51,092
TIAA-CREF Growth & Income		324,254		271,734		51,607		(537	)		25,094		584,398
TIAA-CREF High-Yield		—		397,298		6,067		(54	)		9,897		397,151
TIAA-CREF International Equity		299,413		359,786		129,385		15,037			10,981		636,192
TIAA-CREF Large-Cap Growth		388,265		284,794		66,363		1,657			16,590		662,795
TIAA-CREF Large-Cap Value		373,279		299,822		52,734		3,213			12,444		712,669
TIAA-CREF Mid-Cap Growth		28,522		12,100		19,131		1,594			1,073		22,406
TIAA-CREF Mid-Cap Value		28,581		17,556		17,841		1,430			839		30,975
TIAA-CREF Short-Term Bond		4,482,668		3,638,373		269,538		(73	)		69,752		7,904,186
TIAA-CREF Small-Cap Equity		118,978		91,245		19,431		497			5,053		213,197
	$	11,202,572	$	9,434,980	$	1,347,610	$	31,095		$	413,953	$	19,780,138
Lifestyle Conservative
TIAA-CREF Bond	$	1,243,794	$	1,065,914	$	246,626	$	609		$	70,632	$	2,053,467
TIAA-CREF Bond Plus		3,726,989		4,058,640		108,972		(688	)		203,514		7,707,817
TIAA-CREF Emerging Markets Equity		353,591		433,011		46,634		2,541			7,450		841,349
TIAA-CREF Enhanced International Equity Index		444,444		443,838		191,829		6,080			20,811		795,818
TIAA-CREF Enhanced Large-Cap Growth Index		321,666		291,739		59,541		(778	)		22,552		577,973
TIAA-CREF Enhanced Large-Cap Value Index		310,067		317,498		60,590		1,641			20,888		629,089
TIAA-CREF Global Natural Resources		—		66,237		1,417		5			985		66,062
TIAA-CREF Growth & Income		718,002		757,877		58,897		(683	)		62,206		1,513,834
TIAA-CREF High-Yield		—		514,652		6,133		—			12,249		515,847
TIAA-CREF International Equity		663,840		778,877		171,041		16,088			23,723		1,519,713
TIAA-CREF Large-Cap Growth		859,601		796,807		78,570		2,100			41,366		1,716,948
TIAA-CREF Large-Cap Value		826,716		867,965		76,142		6,100			31,021		1,846,078
TIAA-CREF Mid-Cap Growth		63,129		44,295		23,353		745			4,131		90,584
TIAA-CREF Mid-Cap Value		63,329		61,200		23,279		803			2,961		112,633
TIAA-CREF Short-Term Bond		2,480,542		2,680,241		58,726		(69	)		42,376		5,133,796
TIAA-CREF Small-Cap Equity		263,426		255,706		22,509		616			12,609		552,248
	$	12,339,136	$	13,434,497	$	1,234,259	$	35,110		$	579,474	$	25,673,256
Lifestyle Moderate
TIAA-CREF Bond Plus	$	5,236,196	$	5,341,579	$	658,543	$	(1,089	)	$	257,956	$	9,961,084
TIAA-CREF Emerging Markets Equity		559,642		600,043		82,342		223			10,502		1,226,350
TIAA-CREF Enhanced International Equity Index		703,796		647,959		226,984		2,751			34,720		1,287,747
TIAA-CREF Enhanced Large-Cap Growth Index		508,560		449,301		78,377		(1,020	)		34,665		915,698
TIAA-CREF Enhanced Large-Cap Value Index		490,136		485,868		78,803		(186	)		32,052		994,595
TIAA-CREF Global Natural Resources		—		69,480		3,216		86			974		67,501
TIAA-CREF Growth & Income		1,135,408		1,143,400		111,885		(3,012	)		92,144		2,313,152
TIAA-CREF High-Yield		—		524,627		7,617		(28	)		12,244		524,174
TIAA-CREF International Equity		1,050,298		1,108,111		252,807		13,673			33,400		2,268,431
TIAA-CREF Large-Cap Growth		1,358,395		1,187,083		137,571		(3,393	)		61,335		2,621,202
TIAA-CREF Large-Cap Value		1,307,283		1,303,406		136,939		(263	)		46,000		2,823,026
TIAA-CREF Mid-Cap Growth		99,705		71,359		27,505		191			6,848		154,813
TIAA-CREF Mid-Cap Value		100,050		95,802		26,601		211			4,819		188,489
TIAA-CREF Small-Cap Equity		416,445		382,910		41,018		(1,622	)		18,697		844,472
	$	12,965,914	$	13,410,928	$	1,870,208	$	6,522		$	646,356	$	26,190,734
Lifestyle Growth
TIAA-CREF Bond Plus	$	2,353,777	$	1,574,000	$	303,024	$	85		$	99,163	$	3,649,497
TIAA-CREF Emerging Markets Equity		660,944		454,926		46,384		1,252			10,666		1,227,564
TIAA-CREF Enhanced International Equity Index		831,086		529,620		184,765		3,842			38,451		1,360,291
TIAA-CREF Enhanced Large-Cap Growth Index		606,535		366,350		48,344		(175	)		36,717		963,395
TIAA-CREF Enhanced Large-Cap Value Index		585,339		402,819		49,047		452			33,899		1,044,148
TIAA-CREF Global Natural Resources		—		52,162		1,102		(5	)		760		51,962
TIAA-CREF Growth & Income		1,355,207		928,801		51,557		(1,832	)		96,833		2,389,638
TIAA-CREF High-Yield		—		413,644		12,178		(128	)		9,628		407,244
TIAA-CREF International Equity		1,242,169		870,355		206,911		13,879			34,091		2,298,938
TIAA-CREF Large-Cap Growth		1,623,310		931,685		71,397		(2,099	)		63,945		2,710,247
TIAA-CREF Large-Cap Value		1,558,962		1,038,352		56,211		(1,026	)		47,958		2,914,098
TIAA-CREF Mid-Cap Growth		119,329		57,838		20,170		865			7,521		168,623
TIAA-CREF Mid-Cap Value		119,299		81,168		17,890		337			5,246		203,366
TIAA-CREF Small-Cap Equity		497,068		303,801		18,323		(1,067	)		19,484		871,810
	$	11,553,025	$	8,005,521	$	1,087,303	$	14,380		$	504,362	$	20,260,821
Lifestyle Aggressive Growth
TIAA-CREF Emerging Markets Equity	$	808,679	$	499,351	$	78,823	$	(550	)	$	12,782	$	1,422,992
TIAA-CREF Enhanced International Equity Index		1,017,986		591,725		217,867		(1,100	)		47,846		1,630,236
TIAA-CREF Enhanced Large-Cap Growth Index		750,159		402,797		58,809		(997	)		45,273		1,145,412
TIAA-CREF Enhanced Large-Cap Value Index		723,269		444,305		60,011		102			41,812		1,241,524
TIAA-CREF Global Natural Resources		—		49,295		1,230		(9	)		742		49,002
TIAA-CREF Growth & Income		1,676,453		1,014,789		78,583		(3,005	)		118,472		2,813,842
TIAA-CREF International Equity		1,518,553		913,756		235,571		10,188			40,551		2,684,293
TIAA-CREF Large-Cap Growth		2,000,715		1,016,510		106,540		(447	)		77,894		3,192,421
TIAA-CREF Large-Cap Value		1,926,192		1,135,249		101,799		(1,741	)		58,409		3,427,994
TIAA-CREF Mid-Cap Growth		147,359		68,392		26,625		333			9,429		204,833
TIAA-CREF Mid-Cap Value		147,432		94,510		23,498		310			6,555		245,167
TIAA-CREF Small-Cap Equity		614,579		333,896		33,815		(1,201	)		23,742		1,027,090
	$	11,331,376	$	6,564,575	$	1,023,171	$	1,883		$	483,507	$	19,084,806

7

TIAA-CREF Lifestyle Funds – Notes to Schedules of Investments (unaudited)

Note 4—investments

Net unrealized appreciation (depreciation): At February 28, 2013, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation, was as follows:

Fund	Book cost		Gross unrealized appreciation		Gross unrealized (depreciation)		Net unrealized appreciation (depreciation)
Lifestyle Income	$	19,103,659	$	676,479	$	—	$	676,479
Lifestyle Conservative		24,327,116		1,346,140		—		1,346,140
Lifestyle Moderate		24,283,260		1,907,474		—		1,907,474
Lifestyle Growth		18,216,327		2,044,494		—		2,044,494
Lifestyle Aggressive Growth		16,650,384		2,434,422		—		2,434,422

8

Item 2. Controls and Procedures.

(a) An evaluation was performed within 90 days of the filing date of the report 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 have 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 FUNDS
Date: April 18, 2013	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		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: April 18, 2013	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		Principal Executive Officer and President
		(principal executive officer)

Date: April 18, 2013	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