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)

Terry H. Lin, 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:  August 31, 2014

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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 39.7%
	7,863,049	TIAA-CREF Bond Fund	$	83,348,320
	3,234,000	TIAA-CREF Bond Plus Fund		34,862,524
	925,279	TIAA-CREF High-Yield Fund		9,632,158
		TOTAL FIXED INCOME		127,843,002
INFLATION-PROTECTED ASSETS - 5.0%
	1,364,521	TIAA-CREF Inflation-Linked Bond Fund		16,005,835
		TOTAL INFLATION-PROTECTED ASSETS		16,005,835
INTERNATIONAL EQUITY - 12.3%
	694,545	TIAA-CREF Emerging Markets Equity Fund		8,091,454
	1,105,745	TIAA-CREF Enhanced International Equity Index Fund		9,210,855
	214,351	TIAA-CREF Global Natural Resources Fund		2,205,671
	871,107	TIAA-CREF International Equity Fund		10,026,442
	917,523	TIAA-CREF International Opportunities Fund		10,037,697
		TOTAL INTERNATIONAL EQUITY		39,572,119
SHORT-TERM FIXED INCOME - 14.8%
	27,890	TIAA-CREF Money Market Fund		27,890
	4,572,367	TIAA-CREF Short-Term Bond Fund		47,644,059
		TOTAL SHORT-TERM FIXED INCOME		47,671,949
U.S. EQUITY - 28.0%
	1,436,216	TIAA-CREF Enhanced Large-Cap Growth Index Fund		17,349,490
	1,506,307	TIAA-CREF Enhanced Large-Cap Value Index Fund		16,945,952
	1,113,434	TIAA-CREF Growth & Income Fund		14,441,240
	1,054,727	TIAA-CREF Large-Cap Growth Fund		17,181,497
	887,219	TIAA-CREF Large-Cap Value Fund		16,759,573
	17,738	TIAA-CREF Mid-Cap Growth Fund		430,853
	14,022	TIAA-CREF Mid-Cap Value Fund		352,666
	367,518	TIAA-CREF Small-Cap Equity Fund		7,096,780
		TOTAL U.S. EQUITY		90,558,051
		TOTAL TIAA-CREF FUNDS		321,650,956
		(Cost $284,619,366)
		TOTAL INVESTMENTS - 99.8%		321,650,956
		(Cost $284,619,366)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		557,641
		NET ASSETS - 100.0%	$	322,208,597

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.9%(a)
FIXED INCOME - 38.5%
	24,924,379	TIAA-CREF Bond Fund	$	264,198,419
	10,792,465	TIAA-CREF Bond Plus Fund		116,342,768
	3,080,303	TIAA-CREF High-Yield Fund		32,065,955
		TOTAL FIXED INCOME		412,607,142
INFLATION-PROTECTED ASSETS - 5.2%
	4,757,837	TIAA-CREF Inflation-Linked Bond Fund		55,809,428
		TOTAL INFLATION-PROTECTED ASSETS		55,809,428
INTERNATIONAL EQUITY - 14.0%
	2,587,936	TIAA-CREF Emerging Markets Equity Fund		30,149,452
	4,266,753	TIAA-CREF Enhanced International Equity Index Fund		35,542,053
	817,769	TIAA-CREF Global Natural Resources Fund		8,414,842
	3,325,427	TIAA-CREF International Equity Fund		38,275,660
	3,489,175	TIAA-CREF International Opportunities Fund		38,171,577
		TOTAL INTERNATIONAL EQUITY		150,553,584
SHORT-TERM FIXED INCOME - 9.9%
	58,956	TIAA-CREF Money Market Fund		58,956
	10,166,267	TIAA-CREF Short-Term Bond Fund		105,932,499
		TOTAL SHORT-TERM FIXED INCOME		105,991,455
U.S. EQUITY - 32.3%
	5,479,287	TIAA-CREF Enhanced Large-Cap Growth Index Fund		66,189,786
	5,737,350	TIAA-CREF Enhanced Large-Cap Value Index Fund		64,545,188
	4,252,855	TIAA-CREF Growth & Income Fund		55,159,535
	4,032,691	TIAA-CREF Large-Cap Growth Fund		65,692,529
	3,399,096	TIAA-CREF Large-Cap Value Fund		64,208,929
	83,434	TIAA-CREF Mid-Cap Growth Fund		2,026,621
	68,691	TIAA-CREF Mid-Cap Value Fund		1,727,574
	1,403,182	TIAA-CREF Small-Cap Equity Fund		27,095,454
		TOTAL U.S. EQUITY		346,645,616
		TOTAL TIAA-CREF FUNDS		1,071,607,225
		(Cost $902,989,616)
		TOTAL INVESTMENTS - 99.9%		1,071,607,225
		(Cost $902,989,616)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		829,309
		NET ASSETS - 100.0%	$	1,072,436,534

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.9%(a)
FIXED INCOME - 37.0%
	37,245,913	TIAA-CREF Bond Fund	$	394,806,681
	17,163,566	TIAA-CREF Bond Plus Fund		185,023,236
	4,898,390	TIAA-CREF High-Yield Fund		50,992,240
		TOTAL FIXED INCOME		630,822,157
INFLATION-PROTECTED ASSETS - 5.2%
	7,573,059	TIAA-CREF Inflation-Linked Bond Fund		88,831,982
		TOTAL INFLATION-PROTECTED ASSETS		88,831,982
INTERNATIONAL EQUITY - 15.6%
	4,515,167	TIAA-CREF Emerging Markets Equity Fund		52,601,693
	7,630,862	TIAA-CREF Enhanced International Equity Index Fund		63,565,084
	1,452,001	TIAA-CREF Global Natural Resources Fund		14,941,095
	5,927,144	TIAA-CREF International Equity Fund		68,221,423
	6,194,217	TIAA-CREF International Opportunities Fund		67,764,735
		TOTAL INTERNATIONAL EQUITY		267,094,030
SHORT-TERM FIXED INCOME - 5.9%
	143,145	TIAA-CREF Money Market Fund		143,145
	9,682,821	TIAA-CREF Short-Term Bond Fund		100,894,999
		TOTAL SHORT-TERM FIXED INCOME		101,038,144
U.S. EQUITY - 36.2%
	9,748,880	TIAA-CREF Enhanced Large-Cap Growth Index Fund		117,766,476
	10,185,857	TIAA-CREF Enhanced Large-Cap Value Index Fund		114,590,894
	7,597,241	TIAA-CREF Growth & Income Fund		98,536,214
	7,170,629	TIAA-CREF Large-Cap Growth Fund		116,809,551
	6,060,624	TIAA-CREF Large-Cap Value Fund		114,485,187
	172,455	TIAA-CREF Mid-Cap Growth Fund		4,188,926
	142,061	TIAA-CREF Mid-Cap Value Fund		3,572,840
	2,497,707	TIAA-CREF Small-Cap Equity Fund		48,230,726
		TOTAL U.S. EQUITY		618,180,814
		TOTAL TIAA-CREF FUNDS		1,705,967,127
		(Cost $1,535,484,633)
		TOTAL INVESTMENTS - 99.9%		1,705,967,127
		(Cost $1,535,484,633)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		1,330,799
		NET ASSETS - 100.0%	$	1,707,297,926

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 32.9%
	44,759,592	TIAA-CREF Bond Fund	$	474,451,677
	25,159,409	TIAA-CREF Bond Plus Fund		271,218,425
	7,648,006	TIAA-CREF High-Yield Fund		79,615,741
		TOTAL FIXED INCOME		825,285,843
INFLATION-PROTECTED ASSETS - 3.6%
	7,735,454	TIAA-CREF Inflation-Linked Bond Fund		90,736,877
		TOTAL INFLATION-PROTECTED ASSETS		90,736,877
INTERNATIONAL EQUITY - 18.0%
	7,443,024	TIAA-CREF Emerging Markets Equity Fund		86,711,235
	13,050,233	TIAA-CREF Enhanced International Equity Index Fund		108,708,439
	2,470,489	TIAA-CREF Global Natural Resources Fund		25,421,335
	10,060,567	TIAA-CREF International Equity Fund		115,797,131
	10,440,162	TIAA-CREF International Opportunities Fund		114,215,369
		TOTAL INTERNATIONAL EQUITY		450,853,509
SHORT-TERM FIXED INCOME - 3.5%
	191,587	TIAA-CREF Money Market Fund		191,587
	8,543,564	TIAA-CREF Short-Term Bond Fund		89,023,939
		TOTAL SHORT-TERM FIXED INCOME		89,215,526
U.S. EQUITY - 41.8%
	16,505,855	TIAA-CREF Enhanced Large-Cap Growth Index Fund		199,390,733
	17,322,718	TIAA-CREF Enhanced Large-Cap Value Index Fund		194,880,575
	12,855,854	TIAA-CREF Growth & Income Fund		166,740,433
	12,153,293	TIAA-CREF Large-Cap Growth Fund		197,977,136
	10,250,717	TIAA-CREF Large-Cap Value Fund		193,636,035
	340,581	TIAA-CREF Mid-Cap Growth Fund		8,272,715
	290,564	TIAA-CREF Mid-Cap Value Fund		7,307,697
	4,219,420	TIAA-CREF Small-Cap Equity Fund		81,476,994
		TOTAL U.S. EQUITY		1,049,682,318
		TOTAL TIAA-CREF FUNDS		2,505,774,073
		(Cost $2,213,059,024)
		TOTAL INVESTMENTS - 99.8%		2,505,774,073
		(Cost $2,213,059,024)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		4,155,166
		NET ASSETS - 100.0%	$	2,509,929,239

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 29.0%
	33,659,858	TIAA-CREF Bond Fund	$	356,794,498
	24,725,562	TIAA-CREF Bond Plus Fund		266,541,557
	10,044,143	TIAA-CREF High-Yield Fund		104,559,533
		TOTAL FIXED INCOME		727,895,588
INFLATION-PROTECTED ASSETS - 1.6%
	3,478,975	TIAA-CREF Inflation-Linked Bond Fund		40,808,382
		TOTAL INFLATION-PROTECTED ASSETS		40,808,382
INTERNATIONAL EQUITY - 20.3%
	8,256,656	TIAA-CREF Emerging Markets Equity Fund		96,190,040
	14,879,610	TIAA-CREF Enhanced International Equity Index Fund		123,947,147
	2,796,460	TIAA-CREF Global Natural Resources Fund		28,775,573
	11,433,220	TIAA-CREF International Equity Fund		131,596,362
	11,768,559	TIAA-CREF International Opportunities Fund		128,748,037
		TOTAL INTERNATIONAL EQUITY		509,257,159
SHORT-TERM FIXED INCOME - 1.6%
	187,740	TIAA-CREF Money Market Fund		187,740
	3,831,728	TIAA-CREF Short-Term Bond Fund		39,926,604
		TOTAL SHORT-TERM FIXED INCOME		40,114,344
U.S. EQUITY - 47.3%
	18,673,484	TIAA-CREF Enhanced Large-Cap Growth Index Fund		225,575,682
	19,575,436	TIAA-CREF Enhanced Large-Cap Value Index Fund		220,223,649
	14,555,769	TIAA-CREF Growth & Income Fund		188,788,322
	13,742,507	TIAA-CREF Large-Cap Growth Fund		223,865,444
	11,600,830	TIAA-CREF Large-Cap Value Fund		219,139,670
	421,798	TIAA-CREF Mid-Cap Growth Fund		10,245,469
	364,434	TIAA-CREF Mid-Cap Value Fund		9,165,512
	4,789,201	TIAA-CREF Small-Cap Equity Fund		92,479,462
		TOTAL U.S. EQUITY		1,189,483,210
		TOTAL TIAA-CREF FUNDS		2,507,558,683
		(Cost $2,171,142,599)
		TOTAL INVESTMENTS - 99.8%		2,507,558,683
		(Cost $2,171,142,599)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		5,134,121
		NET ASSETS - 100.0%	$	2,512,692,804

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 24.3%
	23,267,585	TIAA-CREF Bond Fund	$	246,636,400
	20,428,396	TIAA-CREF Bond Plus Fund		220,218,109
	11,514,938	TIAA-CREF High-Yield Fund		119,870,502
		TOTAL FIXED INCOME		586,725,011
INTERNATIONAL EQUITY - 22.6%
	8,730,999	TIAA-CREF Emerging Markets Equity Fund		101,716,137
	16,040,427	TIAA-CREF Enhanced International Equity Index Fund		133,616,756
	3,000,658	TIAA-CREF Global Natural Resources Fund		30,876,768
	12,278,605	TIAA-CREF International Equity Fund		141,326,746
	12,591,784	TIAA-CREF International Opportunities Fund		137,754,118
		TOTAL INTERNATIONAL EQUITY		545,290,525
SHORT-TERM FIXED INCOME - 0.0%
	180,563	TIAA-CREF Money Market Fund		180,563
		TOTAL SHORT-TERM FIXED INCOME		180,563
U.S. EQUITY - 52.9%
	20,019,106	TIAA-CREF Enhanced Large-Cap Growth Index Fund		241,830,795
	21,005,862	TIAA-CREF Enhanced Large-Cap Value Index Fund		236,315,952
	15,601,476	TIAA-CREF Growth & Income Fund		202,351,148
	14,764,654	TIAA-CREF Large-Cap Growth Fund		240,516,221
	12,451,329	TIAA-CREF Large-Cap Value Fund		235,205,597
	484,281	TIAA-CREF Mid-Cap Growth Fund		11,763,176
	425,962	TIAA-CREF Mid-Cap Value Fund		10,712,950
	5,131,906	TIAA-CREF Small-Cap Equity Fund		99,097,113
		TOTAL U.S. EQUITY		1,277,792,952
		TOTAL TIAA-CREF FUNDS		2,409,989,051
		(Cost $2,036,005,377)
		TOTAL INVESTMENTS - 99.8%		2,409,989,051
		(Cost $2,036,005,377)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		4,418,055
		NET ASSETS - 100.0%	$	2,414,407,106

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 16.4%
	12,716,442	TIAA-CREF Bond Fund	$	134,794,284
	13,395,224	TIAA-CREF Bond Plus Fund		144,400,515
	11,706,337	TIAA-CREF High-Yield Fund		121,862,970
		TOTAL FIXED INCOME		401,057,769
INTERNATIONAL EQUITY - 25.0%
	9,845,958	TIAA-CREF Emerging Markets Equity Fund		114,705,413
	18,091,149	TIAA-CREF Enhanced International Equity Index Fund		150,699,272
	3,361,855	TIAA-CREF Global Natural Resources Fund		34,593,485
	13,793,536	TIAA-CREF International Equity Fund		158,763,596
	14,069,730	TIAA-CREF International Opportunities Fund		153,922,851
		TOTAL INTERNATIONAL EQUITY		612,684,617
SHORT-TERM FIXED INCOME - 0.0%
	186,513	TIAA-CREF Money Market Fund		186,513
		TOTAL SHORT-TERM FIXED INCOME		186,513
U.S. EQUITY - 58.4%
	22,410,519	TIAA-CREF Enhanced Large-Cap Growth Index Fund		270,719,075
	23,480,478	TIAA-CREF Enhanced Large-Cap Value Index Fund		264,155,377
	17,486,194	TIAA-CREF Growth & Income Fund		226,795,933
	16,533,874	TIAA-CREF Large-Cap Growth Fund		269,336,803
	13,957,946	TIAA-CREF Large-Cap Value Fund		263,665,593
	571,372	TIAA-CREF Mid-Cap Growth Fund		13,878,629
	504,612	TIAA-CREF Mid-Cap Value Fund		12,690,992
	5,762,409	TIAA-CREF Small-Cap Equity Fund		111,272,124
		TOTAL U.S. EQUITY		1,432,514,526
		TOTAL TIAA-CREF FUNDS		2,446,443,425
		(Cost $2,025,957,062)
		TOTAL INVESTMENTS - 99.8%		2,446,443,425
		(Cost $2,025,957,062)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		4,322,790
		NET ASSETS - 100.0%	$	2,450,766,215

(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)
August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 9.9%
	14,548,047	TIAA-CREF Bond Plus Fund	$	156,827,944
	15,280,130	TIAA-CREF High-Yield Fund		159,066,154
		TOTAL FIXED INCOME		315,894,098
INTERNATIONAL EQUITY - 26.9%
	13,805,100	TIAA-CREF Emerging Markets Equity Fund		160,829,416
	25,534,152	TIAA-CREF Enhanced International Equity Index Fund		212,699,488
	4,735,518	TIAA-CREF Global Natural Resources Fund		48,728,484
	19,537,970	TIAA-CREF International Equity Fund		224,882,030
	19,789,436	TIAA-CREF International Opportunities Fund		216,496,430
		TOTAL INTERNATIONAL EQUITY		863,635,848
SHORT-TERM FIXED INCOME - 0.0%
	273,442	TIAA-CREF Money Market Fund		273,442
		TOTAL SHORT-TERM FIXED INCOME		273,442
U.S. EQUITY - 63.0%
	31,567,717	TIAA-CREF Enhanced Large-Cap Growth Index Fund		381,338,025
	33,104,138	TIAA-CREF Enhanced Large-Cap Value Index Fund		372,421,558
	24,598,165	TIAA-CREF Growth & Income Fund		319,038,203
	23,301,354	TIAA-CREF Large-Cap Growth Fund		379,579,062
	19,655,176	TIAA-CREF Large-Cap Value Fund		371,286,281
	831,486	TIAA-CREF Mid-Cap Growth Fund		20,196,801
	738,376	TIAA-CREF Mid-Cap Value Fund		18,570,166
	8,102,094	TIAA-CREF Small-Cap Equity Fund		156,451,435
		TOTAL U.S. EQUITY		2,018,881,531
		TOTAL TIAA-CREF FUNDS		3,198,684,919
		(Cost $2,593,525,872)
		TOTAL INVESTMENTS - 99.8%		3,198,684,919
		(Cost $2,593,525,872)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		6,132,060
		NET ASSETS - 100.0%	$	3,204,816,979

(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)
August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 9.9%
	4,845,022	TIAA-CREF Bond Plus Fund	$	52,229,341
	5,022,865	TIAA-CREF High-Yield Fund		52,288,020
		TOTAL FIXED INCOME		104,517,361
INTERNATIONAL EQUITY - 27.1%
	4,557,649	TIAA-CREF Emerging Markets Equity Fund		53,096,615
	8,561,776	TIAA-CREF Enhanced International Equity Index Fund		71,319,594
	1,553,824	TIAA-CREF Global Natural Resources Fund		15,988,852
	6,465,517	TIAA-CREF International Equity Fund		74,418,101
	6,482,926	TIAA-CREF International Opportunities Fund		70,923,205
		TOTAL INTERNATIONAL EQUITY		285,746,367
SHORT-TERM FIXED INCOME - 0.0%
	81,020	TIAA-CREF Money Market Fund		81,020
		TOTAL SHORT-TERM FIXED INCOME		81,020
U.S. EQUITY - 62.8%
	10,355,086	TIAA-CREF Enhanced Large-Cap Growth Index Fund		125,089,442
	10,867,534	TIAA-CREF Enhanced Large-Cap Value Index Fund		122,259,755
	8,071,420	TIAA-CREF Growth & Income Fund		104,686,317
	7,644,748	TIAA-CREF Large-Cap Growth Fund		124,532,948
	6,439,888	TIAA-CREF Large-Cap Value Fund		121,649,483
	273,629	TIAA-CREF Mid-Cap Growth Fund		6,646,445
	242,327	TIAA-CREF Mid-Cap Value Fund		6,094,523
	2,665,916	TIAA-CREF Small-Cap Equity Fund		51,478,832
		TOTAL U.S. EQUITY		662,437,745
		TOTAL TIAA-CREF FUNDS		1,052,782,493
		(Cost $866,750,259)
		TOTAL INVESTMENTS - 99.8%		1,052,782,493
		(Cost $866,750,259)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		2,337,845
		NET ASSETS - 100.0%	$	1,055,120,338

(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)
August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 9.9%
	2,779,822	TIAA-CREF Bond Plus Fund	$	29,966,477
	2,883,324	TIAA-CREF High-Yield Fund		30,015,403
		TOTAL FIXED INCOME		59,981,880
INTERNATIONAL EQUITY - 27.1%
	2,615,412	TIAA-CREF Emerging Markets Equity Fund		30,469,548
	4,899,331	TIAA-CREF Enhanced International Equity Index Fund		40,811,425
	891,877	TIAA-CREF Global Natural Resources Fund		9,177,414
	3,710,245	TIAA-CREF International Equity Fund		42,704,920
	3,723,440	TIAA-CREF International Opportunities Fund		40,734,437
		TOTAL INTERNATIONAL EQUITY		163,897,744
SHORT-TERM FIXED INCOME - 0.0%
	41,882	TIAA-CREF Money Market Fund		41,882
		TOTAL SHORT-TERM FIXED INCOME		41,882
U.S. EQUITY - 62.8%
	5,945,154	TIAA-CREF Enhanced Large-Cap Growth Index Fund		71,817,461
	6,236,738	TIAA-CREF Enhanced Large-Cap Value Index Fund		70,163,304
	4,632,899	TIAA-CREF Growth & Income Fund		60,088,705
	4,387,316	TIAA-CREF Large-Cap Growth Fund		71,469,376
	3,695,621	TIAA-CREF Large-Cap Value Fund		69,810,278
	157,201	TIAA-CREF Mid-Cap Growth Fund		3,818,412
	139,069	TIAA-CREF Mid-Cap Value Fund		3,497,578
	1,530,473	TIAA-CREF Small-Cap Equity Fund		29,553,430
		TOTAL U.S. EQUITY		380,218,544
		TOTAL TIAA-CREF FUNDS		604,140,050
		(Cost $502,656,173)
		TOTAL INVESTMENTS - 99.8%		604,140,050
		(Cost $502,656,173)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		1,346,038
		NET ASSETS - 100.0%	$	605,486,088

(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)
August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 100.4%(a)
FIXED INCOME - 10.0%
	422,806	TIAA-CREF Bond Plus Fund	$	4,557,854
	436,205	TIAA-CREF High-Yield Fund		4,540,889
		TOTAL FIXED INCOME		9,098,743
INTERNATIONAL EQUITY - 27.4%
	396,473	TIAA-CREF Emerging Markets Equity Fund		4,618,909
	749,522	TIAA-CREF Enhanced International Equity Index Fund		6,243,516
	139,283	TIAA-CREF Global Natural Resources Fund		1,433,219
	562,441	TIAA-CREF International Equity Fund		6,473,695
	565,382	TIAA-CREF International Opportunities Fund		6,185,280
		TOTAL INTERNATIONAL EQUITY		24,954,619
SHORT-TERM FIXED INCOME - 0.0%
	6,591	TIAA-CREF Money Market Fund		6,591
		TOTAL SHORT-TERM FIXED INCOME		6,591
U.S. EQUITY - 63.0%
	899,531	TIAA-CREF Enhanced Large-Cap Growth Index Fund		10,866,340
	943,309	TIAA-CREF Enhanced Large-Cap Value Index Fund		10,612,221
	700,937	TIAA-CREF Growth & Income Fund		9,091,150
	663,979	TIAA-CREF Large-Cap Growth Fund		10,816,220
	559,057	TIAA-CREF Large-Cap Value Fund		10,560,591
	23,734	TIAA-CREF Mid-Cap Growth Fund		576,495
	21,026	TIAA-CREF Mid-Cap Value Fund		528,807
	231,467	TIAA-CREF Small-Cap Equity Fund		4,469,622
		TOTAL U.S. EQUITY		57,521,446
		TOTAL TIAA-CREF FUNDS		91,581,399
		(Cost $81,328,487)
		TOTAL INVESTMENTS - 100.4%		91,581,399
		(Cost $81,328,487)
		OTHER ASSETS & LIABILITIES, NET - (0.4)%		(342,554	)
		NET ASSETS - 100.0%	$	91,238,845

(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, is registered with the Commission as an investment adviser and 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, Premier, 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 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: Security 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

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.

12

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

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 their 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 August 31, 2014, there were no transfers between levels by the Funds.

As of August 31, 2014, all of the investments in the Funds were valued based on Level 1 inputs.

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, 2014		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifecycle Retirement Income Fund
TIAA-CREF Bond	$	75,513,293	$	8,167,542	$	578,644	$	(3,483)		$	428,686	$	83,348,320
TIAA-CREF Bond Plus		33,001,056		1,818,753		89,940		(274)			227,156		34,862,524
TIAA-CREF Emerging Markets Equity		7,414,628		462,480		146,434		1,601			—		8,091,454
TIAA-CREF Enhanced International Equity Index		9,001,491		438,275		98,795		802			—		9,210,855
TIAA-CREF Enhanced Large-Cap Growth Index		16,044,408		952,601		454,105		15,530			—		17,349,490
TIAA-CREF Enhanced Large-Cap Value Index		15,524,166		913,566		218,546		11,079			—		16,945,952
TIAA-CREF Global Natural Resources		1,957,141		232,590		15,041		(218	)		—		2,205,671
TIAA-CREF Growth & Income		13,356,160		591,292		172,189		13,135			38,891		14,441,240
TIAA-CREF High-Yield		12,026,222		515,663		2,857,073		(15,317	)		158,035		9,632,158
TIAA-CREF Inflation-Linked Bond		15,258,903		1,189,090		365,543		(1,870	)		195,866		16,005,835
TIAA-CREF International Equity		9,906,118		827,952		316,134		(1,382	)		—		10,026,442
TIAA-CREF International Opportunities		9,688,239		741,038		288,283		(1,526	)		—		10,037,697
TIAA-CREF Large-Cap Growth		15,996,113		952,240		836,097		46,251			—		17,181,497
TIAA-CREF Large-Cap Value		15,337,765		1,099,393		371,058		2,365			—		16,759,573
TIAA-CREF Mid-Cap Growth		395,871		62,781		49,663		2,314			—		430,853
TIAA-CREF Mid-Cap Value		287,167		65,224		11,745		(18	)		—		352,666
TIAA-CREF Money Market		27,890		—		—		—			—		27,890
TIAA-CREF Short-Term Bond		44,861,967		3,167,279		297,431		(690	)		151,772		47,644,059
TIAA-CREF Small-Cap Equity		6,464,858		495,635		81,417		(1,582	)		—		7,096,780
	$	302,063,456	$	22,693,394	$	7,248,138	$	66,717		$	1,200,406	$	321,650,956

13

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

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifecycle 2010 Fund
TIAA-CREF Bond	$	257,660,401	$	14,370,966	$	8,558,921	$	(34,339	)	$	1,401,771	$	264,198,419
TIAA-CREF Bond Plus		118,303,534		1,388,342		3,778,404		12,836			782,073		116,342,768
TIAA-CREF Emerging Markets Equity		29,767,861		547,980		1,568,314		28,077			—		30,149,452
TIAA-CREF Enhanced International Equity Index		37,739,461		171,918		1,872,794		51,981			—		35,542,053
TIAA-CREF Enhanced Large-Cap Growth Index		66,381,857		898,462		4,257,147		299,284			—		66,189,786
TIAA-CREF Enhanced Large-Cap Value Index		64,293,019		471,668		3,094,925		157,858			—		64,545,188
TIAA-CREF Global Natural Resources		8,096,288		290,429		101,506		2,531			—		8,414,842
TIAA-CREF Growth & Income		55,397,980		422,759		3,285,883		216,787			156,961		55,159,535
TIAA-CREF High-Yield		43,099,822		139,596		10,986,641		(5,345	)		542,460		32,065,955
TIAA-CREF Inflation-Linked Bond		55,786,085		2,718,090		2,404,555		(972	)		706,804		55,809,428
TIAA-CREF International Equity		40,670,253		1,685,140		2,569,095		49,817			—		38,275,660
TIAA-CREF International Opportunities		39,478,347		599,385		1,504,636		(436	)		—		38,171,577
TIAA-CREF Large-Cap Growth		66,321,001		839,407		5,690,408		365,243			—		65,692,529
TIAA-CREF Large-Cap Value		63,500,669		602,096		2,652,812		118,074			—		64,208,929
TIAA-CREF Mid-Cap Growth		2,103,822		56,301		240,738		17,754			—		2,026,621
TIAA-CREF Mid-Cap Value		1,669,288		37,386		43,735		1,368			—		1,727,574
TIAA-CREF Money Market		58,956		—		—		—			—		58,956
TIAA-CREF Short-Term Bond		106,831,865		1,479,496		2,174,766		(19,876	)		347,262		105,932,499
TIAA-CREF Small-Cap Equity		26,815,469		484,943		1,084,306		39,742			—		27,095,454
	$	1,083,975,978	$	27,204,364	$	55,869,586	$	1,300,384		$	3,937,331	$	1,071,607,225

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)		Dividend income		Value at August 31, 2014
Lifecycle 2015 Fund
TIAA-CREF Bond	$	372,237,572	$	25,272,225	$	3,823,383	$	78,459	$	2,061,697	$	394,806,681
TIAA-CREF Bond Plus		184,237,639		2,018,066		1,922,041		73,412		1,232,368		185,023,236
TIAA-CREF Emerging Markets Equity		50,749,909		880,085		1,446,652		176,903		—		52,601,693
TIAA-CREF Enhanced International Equity Index		66,357,900		146,691		2,057,536		457,635		—		63,565,084
TIAA-CREF Enhanced Large-Cap Growth Index		115,633,910		1,563,612		5,035,941		1,638,442		—		117,766,476
TIAA-CREF Enhanced Large-Cap Value Index		112,060,496		937,037		3,481,328		1,268,404		—		114,590,894
TIAA-CREF Global Natural Resources		14,115,776		802,053		205,114		24,527		—		14,941,095
TIAA-CREF Growth & Income		96,588,544		1,718,993		4,469,910		1,728,063		279,133		98,536,214
TIAA-CREF High-Yield		66,291,417		984,290		15,987,837		1,070,271		854,340		50,992,240
TIAA-CREF Inflation-Linked Bond		86,443,603		4,407,777		1,578,358		112,935		1,115,225		88,831,982
TIAA-CREF International Equity		71,720,947		3,409,155		4,214,405		1,273,716		—		68,221,423
TIAA-CREF International Opportunities		69,292,382		1,010,317		1,830,420		198,957		—		67,764,735
TIAA-CREF Large-Cap Growth		115,581,883		2,129,670		8,401,214		3,955,050		—		116,809,551
TIAA-CREF Large-Cap Value		110,570,486		2,138,716		3,087,464		1,198,030		—		114,485,187
TIAA-CREF Mid-Cap Growth		4,237,343		153,419		421,124		73,179		—		4,188,926
TIAA-CREF Mid-Cap Value		3,492,719		14,457		71,462		22,538		—		3,572,840
TIAA-CREF Money Market		143,145		—		—		—		—		143,145
TIAA-CREF Short-Term Bond		100,088,040		1,845,130		846,151		35,409		328,552		100,894,999
TIAA-CREF Small-Cap Equity		46,799,203		943,031		1,060,115		424,518		—		48,230,726
	$	1,686,642,914	$	50,374,724	$	59,940,455	$	13,810,448	$	5,871,315	$	1,705,967,127

14

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

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)		Dividend income		Value at August 31, 2014
Lifecycle 2020 Fund
TIAA-CREF Bond	$	432,819,374	$	45,515,046	$	5,244,990	$	125,366	$	2,435,456	$	474,451,677
TIAA-CREF Bond Plus		265,537,206		6,163,255		1,495,951		74,779		1,792,359		271,218,425
TIAA-CREF Emerging Markets Equity		82,231,577		2,597,611		2,051,168		249,925		—		86,711,235
TIAA-CREF Enhanced International Equity Index		110,984,123		1,803,920		2,557,604		614,415		—		108,708,439
TIAA-CREF Enhanced Large-Cap Growth Index		191,871,024		5,601,078		7,487,474		2,697,585		—		199,390,733
TIAA-CREF Enhanced Large-Cap Value Index		185,845,682		5,214,054		4,701,740		1,830,856		—		194,880,575
TIAA-CREF Global Natural Resources		23,485,203		1,964,396		403,650		47,377		—		25,421,335
TIAA-CREF Growth & Income		160,320,929		4,089,692		5,532,334		2,212,684		463,468		166,740,433
TIAA-CREF High-Yield		101,368,751		2,336,532		23,639,835		2,125,818		1,315,063		79,615,741
TIAA-CREF Inflation-Linked Bond		85,827,983		6,607,285		1,268,993		113,834		1,118,337		90,736,877
TIAA-CREF International Equity		119,049,072		5,110,967		3,817,602		1,172,714		—		115,797,131
TIAA-CREF International Opportunities		114,520,343		2,938,920		2,055,234		232,502		—		114,215,369
TIAA-CREF Large-Cap Growth		191,881,975		2,688,643		9,112,403		4,753,955		—		197,977,136
TIAA-CREF Large-Cap Value		183,872,882		5,817,329		4,202,414		1,674,220		—		193,636,035
TIAA-CREF Mid-Cap Growth		8,061,533		374,124		582,525		121,624		—		8,272,715
TIAA-CREF Mid-Cap Value		6,796,303		311,589		73,533		24,349		—		7,307,697
TIAA-CREF Money Market		191,587		—		—		—		—		191,587
TIAA-CREF Short-Term Bond		85,802,974		3,644,402		257,407		10,233		286,541		89,023,939
TIAA-CREF Small-Cap Equity		77,674,226		2,914,167		1,712,641		746,951		—		81,476,994
	$	2,428,142,747	$	105,693,010	$	76,197,498	$	18,829,187	$	7,411,224	$	2,505,774,073

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)		Dividend income		Value at August 31, 2014
Lifecycle 2025 Fund
TIAA-CREF Bond	$	316,073,151	$	44,442,685	$	4,737,047	$	112,247	$	1,787,472	$	356,794,498
TIAA-CREF Bond Plus		260,210,406		6,241,496		905,714		46,350		1,755,853		266,541,557
TIAA-CREF Emerging Markets Equity		90,995,416		2,850,533		2,018,206		260,807		—		96,190,040
TIAA-CREF Enhanced International Equity Index		125,978,380		2,152,217		2,433,145		615,628		—		123,947,147
TIAA-CREF Enhanced Large-Cap Growth Index		216,250,322		6,597,925		7,870,006		3,330,149		—		225,575,682
TIAA-CREF Enhanced Large-Cap Value Index		210,026,229		5,254,876		4,680,344		1,919,569		—		220,223,649
TIAA-CREF Global Natural Resources		26,493,415		2,096,795		240,396		28,875		—		28,775,573
TIAA-CREF Growth & Income		180,871,988		4,571,354		5,540,047		2,351,815		523,231		188,788,322
TIAA-CREF High-Yield		125,756,792		2,093,584		22,749,759		2,077,837		1,631,678		104,559,533
TIAA-CREF Inflation-Linked Bond		37,116,815		3,913,411		41,062		1,919		489,633		40,808,382
TIAA-CREF International Equity		134,301,967		5,517,203		3,042,676		971,655		—		131,596,362
TIAA-CREF International Opportunities		128,737,394		3,425,459		2,073,547		244,952		—		128,748,037
TIAA-CREF Large-Cap Growth		216,537,079		3,515,225		10,356,228		5,734,843		—		223,865,444
TIAA-CREF Large-Cap Value		207,810,726		6,425,515		4,295,015		1,734,790		—		219,139,670
TIAA-CREF Mid-Cap Growth		9,989,507		425,054		689,085		162,452		—		10,245,469
TIAA-CREF Mid-Cap Value		8,524,379		315,323		16,344		5,578		—		9,165,512
TIAA-CREF Money Market		187,740		—		—		—		—		187,740
TIAA-CREF Short-Term Bond		37,118,614		2,935,981		55,688		566		126,591		39,926,604
TIAA-CREF Small-Cap Equity		87,694,063		3,168,028		1,297,347		614,115		—		92,479,462
	$	2,420,674,383	$	105,942,664	$	73,041,656	$	20,214,147	$	6,314,458	$	2,507,558,683

15

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

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)		Dividend income		Value at August 31, 2014
Lifecycle 2030 Fund
TIAA-CREF Bond	$	209,864,237	$	40,333,443	$	4,268,959	$	97,198	$	1,198,268	$	246,636,400
TIAA-CREF Bond Plus		210,095,960		10,072,131		767,796		38,890		1,433,982		220,218,109
TIAA-CREF Emerging Markets Equity		95,852,318		2,964,369		1,703,774		231,938		—		101,716,137
TIAA-CREF Enhanced International Equity Index		135,444,809		2,253,879		2,183,096		557,149		—		133,616,756
TIAA-CREF Enhanced Large-Cap Growth Index		231,168,373		7,229,512		7,928,239		3,610,923		—		241,830,795
TIAA-CREF Enhanced Large-Cap Value Index		224,447,404		5,579,624		4,037,538		1,790,453		—		236,315,952
TIAA-CREF Global Natural Resources		28,344,729		2,276,101		198,470		21,146		—		30,876,768
TIAA-CREF Growth & Income		193,459,428		4,802,616		5,434,544		2,440,713		560,469		202,351,148
TIAA-CREF High-Yield		138,906,594		2,124,751		20,577,034		1,879,525		1,810,900		119,870,502
TIAA-CREF International Equity		143,160,684		5,866,486		2,151,986		703,985		—		141,326,746
TIAA-CREF International Opportunities		137,303,314		3,924,287		2,041,129		252,035		—		137,754,118
TIAA-CREF Large-Cap Growth		231,638,478		3,897,797		10,221,605		5,868,941		—		240,516,221
TIAA-CREF Large-Cap Value		222,145,278		6,580,129		3,382,054		1,404,804		—		235,205,597
TIAA-CREF Mid-Cap Growth		11,456,911		424,220		715,727		193,054		—		11,763,176
TIAA-CREF Mid-Cap Value		9,873,069		440,010		—		—		—		10,712,950
TIAA-CREF Money Market		180,563		—		—		—		—		180,563
TIAA-CREF Small-Cap Equity		93,886,903		2,688,088		575,728		301,095		—		99,097,113
	$	2,317,229,052	$	101,457,443	$	66,187,679	$	19,391,849	$	5,003,619	$	2,409,989,051

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)		Dividend income		Value at August 31, 2014
Lifecycle 2035 Fund
TIAA-CREF Bond	$	97,348,080	$	37,449,500	$	411,985	$	10,289	$	585,972	$	134,794,284
TIAA-CREF Bond Plus		141,654,456		5,882,096		3,662,604		173,526		954,750		144,400,515
TIAA-CREF Emerging Markets Equity		106,507,837		6,225,499		3,132,507		412,785		—		114,705,413
TIAA-CREF Enhanced International Equity Index		152,954,117		2,802,665		2,920,889		759,450		—		150,699,272
TIAA-CREF Enhanced Large-Cap Growth Index		260,511,037		7,218,968		9,778,968		4,522,229		—		270,719,075
TIAA-CREF Enhanced Large-Cap Value Index		252,987,277		4,886,385		5,296,453		2,366,871		—		264,155,377
TIAA-CREF Global Natural Resources		31,866,241		2,426,022		212,931		22,794		—		34,593,485
TIAA-CREF Growth & Income		217,523,556		5,503,742		6,910,147		3,185,102		631,726		226,795,933
TIAA-CREF High-Yield		141,788,819		2,590,144		21,922,436		1,873,327		1,837,575		121,862,970
TIAA-CREF International Equity		161,440,700		7,377,262		3,834,827		1,285,114		—		158,763,596
TIAA-CREF International Opportunities		153,898,259		4,221,203		2,589,903		319,970		—		153,922,851
TIAA-CREF Large-Cap Growth		260,271,142		3,426,997		11,414,293		6,428,659		—		269,336,803
TIAA-CREF Large-Cap Value		250,877,470		6,671,477		4,998,298		2,195,806		—		263,665,593
TIAA-CREF Mid-Cap Growth		13,563,166		445,668		835,395		231,361		—		13,878,629
TIAA-CREF Mid-Cap Value		11,774,192		484,883		44,150		15,701		—		12,690,992
TIAA-CREF Money Market		186,513		—		—		—		—		186,513
TIAA-CREF Small-Cap Equity		105,740,004		3,753,136		1,725,833		945,630		—		111,272,124
	$	2,360,892,866	$	101,365,647	$	79,691,619	$	24,748,614	$	4,010,023	$	2,446,443,425

16

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

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)		Dividend income		Value at August 31, 2014
Lifecycle 2040 Fund
TIAA-CREF Bond Plus	$	123,129,110	$	35,440,789	$	2,308,692	$	84,965	$	853,566	$	156,827,944
TIAA-CREF Emerging Markets Equity		147,943,801		8,756,588		2,974,361		398,386		—		160,829,416
TIAA-CREF Enhanced International Equity Index		216,059,869		2,659,756		2,984,240		793,552		—		212,699,488
TIAA-CREF Enhanced Large-Cap Growth Index		366,328,859		9,098,503		12,032,123		5,625,253		—		381,338,025
TIAA-CREF Enhanced Large-Cap Value Index		354,751,443		6,815,887		5,407,977		2,462,421		—		372,421,558
TIAA-CREF Global Natural Resources		44,739,857		3,291,648		—		—		—		48,728,484
TIAA-CREF Growth & Income		305,150,208		7,351,159		8,479,989		3,987,524		885,936		319,038,203
TIAA-CREF High-Yield		185,333,351		3,719,461		29,195,503		2,107,112		2,404,265		159,066,154
TIAA-CREF International Equity		226,592,970		11,784,479		4,737,852		1,614,996		—		224,882,030
TIAA-CREF International Opportunities		214,352,348		4,931,998		496,347		61,766		—		216,496,430
TIAA-CREF Large-Cap Growth		364,287,940		6,576,591		15,266,635		8,645,548		—		379,579,062
TIAA-CREF Large-Cap Value		351,751,567		9,489,373		5,558,757		2,467,968		—		371,286,281
TIAA-CREF Mid-Cap Growth		19,655,179		664,118		1,147,389		340,612		—		20,196,801
TIAA-CREF Mid-Cap Value		17,151,603		713,770		—		—		—		18,570,166
TIAA-CREF Money Market		273,442		—		—		—		—		273,442
TIAA-CREF Small-Cap Equity		148,458,630		4,074,127		982,368		538,381		—		156,451,435
	$	3,085,960,177	$	115,368,247	$	91,572,233	$	29,128,484	$	4,143,767	$	3,198,684,919

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifecycle 2045 Fund
TIAA-CREF Bond Plus	$	38,696,961	$	13,694,075	$	349,721	$	(2,145	)	$	274,665	$	52,229,341
TIAA-CREF Emerging Markets Equity		46,318,843		5,163,343		662,071		(9,921	)		—		53,096,615
TIAA-CREF Enhanced International Equity Index		67,543,365		5,441,659		669,879		4,591			—		71,319,594
TIAA-CREF Enhanced Large-Cap Growth Index		115,312,197		6,067,013		2,073,148		11,948			—		125,089,442
TIAA-CREF Enhanced Large-Cap Value Index		111,491,037		5,687,893		150,175		576			—		122,259,755
TIAA-CREF Global Natural Resources		14,186,862		1,683,229		104,134		496			—		15,988,852
TIAA-CREF Growth & Income		95,892,930		4,870,875		892,901		(7,273	)		280,282		104,686,317
TIAA-CREF High-Yield		58,246,499		2,882,669		8,590,516		(95,370	)		773,851		52,288,020
TIAA-CREF International Equity		70,816,942		7,427,633		989,674		2,641			—		74,418,101
TIAA-CREF International Opportunities		67,401,417		4,419,758		156,385		(1,687	)		—		70,923,205
TIAA-CREF Large-Cap Growth		114,652,928		5,269,028		3,105,203		62,961			—		124,532,948
TIAA-CREF Large-Cap Value		111,024,956		6,642,775		1,022,427		3,911			—		121,649,483
TIAA-CREF Mid-Cap Growth		6,120,983		351,797		152,427		(3,051	)		—		6,646,445
TIAA-CREF Mid-Cap Value		5,368,356		505,494		—		—			—		6,094,523
TIAA-CREF Money Market		81,020		—		—		—			—		81,020
TIAA-CREF Small-Cap Equity		46,698,816		3,215,672		—		—			—		51,478,832
	$	969,854,112	$	73,322,913	$	18,918,661	$	(32,323	)	$	1,328,798	$	1,052,782,493

17

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

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifecycle 2050 Fund
TIAA-CREF Bond Plus	$	21,812,428	$	8,057,542	$	11,230	$	(72	)	$	156,374	$	29,966,477
TIAA-CREF Emerging Markets Equity		26,128,159		3,142,412		92,424		(1,794	)		—		30,469,548
TIAA-CREF Enhanced International Equity Index		38,087,943		3,417,932		118,619		413			—		40,811,425
TIAA-CREF Enhanced Large-Cap Growth Index		64,998,415		4,164,577		633,374		839			—		71,817,461
TIAA-CREF Enhanced Large-Cap Value Index		62,844,457		4,350,245		—		—			—		70,163,304
TIAA-CREF Global Natural Resources		7,999,434		1,074,860		21,009		100			—		9,177,414
TIAA-CREF Growth & Income		54,052,244		3,303,811		—		—			158,306		60,088,705
TIAA-CREF High-Yield		32,831,958		1,840,623		4,514,957		(51,386	)		440,295		30,015,403
TIAA-CREF International Equity		39,900,116		4,780,103		351,852		(114	)		—		42,704,920
TIAA-CREF International Opportunities		37,976,638		3,181,389		—		—			—		40,734,437
TIAA-CREF Large-Cap Growth		64,626,764		3,554,238		1,100,329		20,029			—		71,469,376
TIAA-CREF Large-Cap Value		62,581,777		4,391,602		—		—			—		69,810,278
TIAA-CREF Mid-Cap Growth		3,447,250		188,727		—		—			—		3,818,412
TIAA-CREF Mid-Cap Value		3,025,997		346,025		—		—			—		3,497,578
TIAA-CREF Money Market		41,882		—		—		—			—		41,882
TIAA-CREF Small-Cap Equity		26,324,831		2,348,711		—		—			—		29,553,430
	$	546,680,293	$	48,142,797	$	6,843,794	$	(31,985	)	$	754,975	$	604,140,050

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifecycle 2055 Fund
TIAA-CREF Bond Plus	$	3,125,681	$	1,470,832	$	55,046	$	(456	)	$	23,032	$	4,557,854
TIAA-CREF Emerging Markets Equity		3,751,860		767,158		90,728		(5,188	)		—		4,618,909
TIAA-CREF Enhanced International Equity Index		5,489,168		929,158		90,236		150			—		6,243,516
TIAA-CREF Enhanced Large-Cap Growth Index		9,313,507		1,301,931		238,815		998			—		10,866,340
TIAA-CREF Enhanced Large-Cap Value Index		9,004,890		1,371,244		206,364		397			—		10,612,221
TIAA-CREF Global Natural Resources		1,145,846		302,798		33,462		(124	)		—		1,433,219
TIAA-CREF Growth & Income		7,745,067		1,066,819		127,269		(767	)		23,188		9,091,150
TIAA-CREF High-Yield		4,704,638		499,483		643,369		(6,090	)		64,746		4,540,889
TIAA-CREF International Equity		5,698,564		1,151,680		139,542		(1,488	)		—		6,473,695
TIAA-CREF International Opportunities		5,409,787		914,136		78,047		(2,341	)		—		6,185,280
TIAA-CREF Large-Cap Growth		9,260,387		1,239,851		335,721		3,453			—		10,816,220
TIAA-CREF Large-Cap Value		8,967,282		1,361,687		190,136		(333	)		—		10,560,591
TIAA-CREF Mid-Cap Growth		501,657		71,537		24,492		(651	)		—		576,495
TIAA-CREF Mid-Cap Value		433,592		79,107		2,468		(31	)		—		528,807
TIAA-CREF Money Market		6,591		—		—		—			—		6,591
TIAA-CREF Small-Cap Equity		3,772,276		625,641		60,367		(1,990	)		—		4,469,622
	$	78,330,793	$	13,153,062	$	2,316,062	$	(14,461	)	$	110,966	$	91,581,399

18

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

Note 4—investments

Net unrealized appreciation (depreciation): At August 31, 2014, net unrealized appreciation (depreciation) based on the aggregate cost of 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	$	284,619,366	$	37,031,590	$	—		$	37,031,590
Lifecycle 2010		902,989,616		168,617,609		—			168,617,609
Lifecycle 2015		1,535,484,633		170,516,929		(34,435	)		170,482,494
Lifecycle 2020		2,213,059,024		292,791,819		(76,770	)		292,715,049
Lifecycle 2025		2,171,142,599		337,192,513		(776,429	)		336,416,084
Lifecycle 2030		2,036,005,377		373,997,921		(14,247	)		373,983,674
Lifecycle 2035		2,025,957,062		420,486,363		—			420,486,363
Lifecycle 2040		2,593,525,872		605,159,047		—			605,159,047
Lifecycle 2045		866,750,259		186,032,234		—			186,032,234
Lifecycle 2050		502,656,173		101,483,877		—			101,483,877
Lifecycle 2055		81,328,487		10,252,912		—			10,252,912

19

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

TIAA-CREF LIFECYCLE INDEX FUNDS

LIFECYCLE INDEX RETIREMENT INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 49.5%
	1,652,620	TIAA-CREF Bond Index Fund	$	17,980,500
		TOTAL FIXED INCOME		17,980,500
INFLATION-PROTECTED ASSETS - 9.9%
	308,458	TIAA-CREF Inflation-Linked Bond Fund		3,618,207
		TOTAL INFLATION-PROTECTED ASSETS		3,618,207
INTERNATIONAL EQUITY - 11.9%
	90,944	TIAA-CREF Emerging Markets Equity Index Fund		1,035,856
	166,108	TIAA-CREF International Equity Index Fund		3,273,992
		TOTAL INTERNATIONAL EQUITY		4,309,848
U.S. EQUITY - 28.5%
	672,480	TIAA-CREF Equity Index Fund		10,369,638
		TOTAL U.S. EQUITY		10,369,638
		TOTAL TIAA-CREF FUNDS		36,278,193
		(Cost $31,240,338)
		TOTAL INVESTMENTS - 99.8%		36,278,193
		(Cost $31,240,338)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		58,092
		NET ASSETS - 100.0%	$	36,336,285

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 100.0%(a)
FIXED INCOME - 46.1%
	7,063,843	TIAA-CREF Bond Index Fund	$	76,854,608
		TOTAL FIXED INCOME		76,854,608
INFLATION-PROTECTED ASSETS - 7.6%
	1,082,706	TIAA-CREF Inflation-Linked Bond Fund		12,700,144
		TOTAL INFLATION-PROTECTED ASSETS		12,700,144
INTERNATIONAL EQUITY - 13.6%
	479,051	TIAA-CREF Emerging Markets Equity Index Fund		5,456,391
	874,152	TIAA-CREF International Equity Index Fund		17,229,541
		TOTAL INTERNATIONAL EQUITY		22,685,932
U.S. EQUITY - 32.7%
	3,541,641	TIAA-CREF Equity Index Fund		54,612,108
		TOTAL U.S. EQUITY		54,612,108
		TOTAL TIAA-CREF FUNDS		166,852,792
		(Cost $139,848,880)
		TOTAL INVESTMENTS - 100.0%		166,852,792
		(Cost $139,848,880)
		OTHER ASSETS & LIABILITIES, NET - 0.0%		(35,288	)
		NET ASSETS - 100.0%	$	166,817,504

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.7%(a)
FIXED INCOME - 42.4%
	11,731,911	TIAA-CREF Bond Index Fund	$	127,643,196
		TOTAL FIXED INCOME		127,643,196
INFLATION-PROTECTED ASSETS - 5.6%
	1,436,972	TIAA-CREF Inflation-Linked Bond Fund		16,855,676
		TOTAL INFLATION-PROTECTED ASSETS		16,855,676
INTERNATIONAL EQUITY - 15.2%
	965,919	TIAA-CREF Emerging Markets Equity Index Fund		11,001,812
	1,761,545	TIAA-CREF International Equity Index Fund		34,720,059
		TOTAL INTERNATIONAL EQUITY		45,721,871
U.S. EQUITY - 36.5%
	7,127,396	TIAA-CREF Equity Index Fund		109,904,447
		TOTAL U.S. EQUITY		109,904,447
		TOTAL TIAA-CREF FUNDS		300,125,190
		(Cost $248,625,328)
		TOTAL INVESTMENTS - 99.7%		300,125,190
		(Cost $248,625,328)
		OTHER ASSETS & LIABILITIES, NET - 0.3%		886,851
		NET ASSETS - 100.0%	$	301,012,041

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 36.5%
	14,980,734	TIAA-CREF Bond Index Fund	$	162,990,389
		TOTAL FIXED INCOME		162,990,389
INFLATION-PROTECTED ASSETS - 3.6%
	1,374,715	TIAA-CREF Inflation-Linked Bond Fund		16,125,407
		TOTAL INFLATION-PROTECTED ASSETS		16,125,407
INTERNATIONAL EQUITY - 17.5%
	1,651,863	TIAA-CREF Emerging Markets Equity Index Fund		18,814,715
	3,010,736	TIAA-CREF International Equity Index Fund		59,341,600
		TOTAL INTERNATIONAL EQUITY		78,156,315
U.S. EQUITY - 42.2%
	12,192,686	TIAA-CREF Equity Index Fund		188,011,211
		TOTAL U.S. EQUITY		188,011,211
		TOTAL TIAA-CREF FUNDS		445,283,322
		(Cost $366,772,285)
		TOTAL INVESTMENTS - 99.8%		445,283,322
		(Cost $366,772,285)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		1,055,396
		NET ASSETS - 100.0%	$	446,338,718

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 30.6%
	12,767,233	TIAA-CREF Bond Index Fund	$	138,907,499
		TOTAL FIXED INCOME		138,907,499
INFLATION-PROTECTED ASSETS - 1.6%
	629,006	TIAA-CREF Inflation-Linked Bond Fund		7,378,237
		TOTAL INFLATION-PROTECTED ASSETS		7,378,237
INTERNATIONAL EQUITY - 19.9%
	1,906,771	TIAA-CREF Emerging Markets Equity Index Fund		21,718,127
	3,477,010	TIAA-CREF International Equity Index Fund		68,531,876
		TOTAL INTERNATIONAL EQUITY		90,250,003
U.S. EQUITY - 47.7%
	14,059,768	TIAA-CREF Equity Index Fund		216,801,623
		TOTAL U.S. EQUITY		216,801,623
		TOTAL TIAA-CREF FUNDS		453,337,362
		(Cost $367,565,290)
		TOTAL INVESTMENTS - 99.8%		453,337,362
		(Cost $367,565,290)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		1,094,933
		NET ASSETS - 100.0%	$	454,432,295

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 24.3%
	10,520,200	TIAA-CREF Bond Index Fund	$	114,459,780
		TOTAL FIXED INCOME		114,459,780
INTERNATIONAL EQUITY - 22.2%
	2,207,034	TIAA-CREF Emerging Markets Equity Index Fund		25,138,113
	4,023,758	TIAA-CREF International Equity Index Fund		79,308,277
		TOTAL INTERNATIONAL EQUITY		104,446,390
U.S. EQUITY - 53.3%
	16,281,767	TIAA-CREF Equity Index Fund		251,064,841
		TOTAL U.S. EQUITY		251,064,841
		TOTAL TIAA-CREF FUNDS		469,971,011
		(Cost $371,501,029)
		TOTAL INVESTMENTS - 99.8%		469,971,011
		(Cost $371,501,029)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		884,364
		NET ASSETS - 100.0%	$	470,855,375

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 16.4%
	6,927,642	TIAA-CREF Bond Index Fund	$	75,372,748
		TOTAL FIXED INCOME		75,372,748
INTERNATIONAL EQUITY - 24.5%
	2,387,063	TIAA-CREF Emerging Markets Equity Index Fund		27,188,646
	4,343,408	TIAA-CREF International Equity Index Fund		85,608,572
		TOTAL INTERNATIONAL EQUITY		112,797,218
U.S. EQUITY - 58.9%
	17,573,481	TIAA-CREF Equity Index Fund		270,983,075
		TOTAL U.S. EQUITY		270,983,075
		TOTAL TIAA-CREF FUNDS		459,153,041
		(Cost $355,333,624)
		TOTAL INVESTMENTS - 99.8%		459,153,041
		(Cost $355,333,624)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		1,088,866
		NET ASSETS - 100.0%	$	460,241,907

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.8%(a)
FIXED INCOME - 9.8%
	4,920,226	TIAA-CREF Bond Index Fund	$	53,532,056
		TOTAL FIXED INCOME		53,532,056
INTERNATIONAL EQUITY - 26.5%
	3,048,469	TIAA-CREF Emerging Markets Equity Index Fund		34,722,062
	5,547,421	TIAA-CREF International Equity Index Fund		109,339,659
		TOTAL INTERNATIONAL EQUITY		144,061,721
U.S. EQUITY - 63.5%
	22,376,739	TIAA-CREF Equity Index Fund		345,049,312
		TOTAL U.S. EQUITY		345,049,312
		TOTAL TIAA-CREF FUNDS		542,643,089
		(Cost $408,021,477)
		TOTAL INVESTMENTS - 99.8%		542,643,089
		(Cost $408,021,477)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		1,169,988
		NET ASSETS - 100.0%	$	543,813,077

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.7%(a)
FIXED INCOME - 9.8%
	2,213,394	TIAA-CREF Bond Index Fund	$	24,081,725
		TOTAL FIXED INCOME		24,081,725
INTERNATIONAL EQUITY - 26.5%
	1,373,929	TIAA-CREF Emerging Markets Equity Index Fund		15,649,055
	2,500,481	TIAA-CREF International Equity Index Fund		49,284,486
		TOTAL INTERNATIONAL EQUITY		64,933,541
U.S. EQUITY - 63.4%
	10,048,405	TIAA-CREF Equity Index Fund		154,946,401
		TOTAL U.S. EQUITY		154,946,401
		TOTAL TIAA-CREF FUNDS		243,961,667
		(Cost $192,796,476)
		TOTAL INVESTMENTS - 99.7%		243,961,667
		(Cost $192,796,476)
		OTHER ASSETS & LIABILITIES, NET - 0.3%		614,942
		NET ASSETS - 100.0%	$	244,576,609

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 9.8%
	1,413,262	TIAA-CREF Bond Index Fund	$	15,376,286
		TOTAL FIXED INCOME		15,376,286
INTERNATIONAL EQUITY - 26.6%
	877,390	TIAA-CREF Emerging Markets Equity Index Fund		9,993,473
	1,596,922	TIAA-CREF International Equity Index Fund		31,475,329
		TOTAL INTERNATIONAL EQUITY		41,468,802
U.S. EQUITY - 63.2%
	6,401,554	TIAA-CREF Equity Index Fund		98,711,970
		TOTAL U.S. EQUITY		98,711,970
		TOTAL TIAA-CREF FUNDS		155,557,058
		(Cost $122,432,799)
		TOTAL INVESTMENTS - 99.6%		155,557,058
		(Cost $122,432,799)
		OTHER ASSETS & LIABILITIES, NET - 0.4%		588,499
		NET ASSETS - 100.0%	$	156,145,557

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.5%(a)
FIXED INCOME - 9.8%
	306,997	TIAA-CREF Bond Index Fund	$	3,340,124
		TOTAL FIXED INCOME		3,340,124
INTERNATIONAL EQUITY - 26.4%
	190,535	TIAA-CREF Emerging Markets Equity Index Fund		2,170,197
	346,739	TIAA-CREF International Equity Index Fund		6,834,222
		TOTAL INTERNATIONAL EQUITY		9,004,419
U.S. EQUITY - 63.3%
	1,396,834	TIAA-CREF Equity Index Fund		21,539,187
		TOTAL U.S. EQUITY		21,539,187
		TOTAL TIAA-CREF FUNDS		33,883,730
		(Cost $28,070,334)
		TOTAL INVESTMENTS - 99.5%		33,883,730
		(Cost $28,070,334)
		OTHER ASSETS & LIABILITIES, NET - 0.5%		154,699
		NET ASSETS - 100.0%	$	34,038,429

(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, Premier and Retirement 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: Security 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:

12

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

Investments in registered investment companies: These investments are valued at their 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 August 31, 2014, there were no transfers between levels by the Funds.

As of August 31, 2014, all of the investments in the Funds were valued based on Level 1 inputs.

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, 2014		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifecycle Index Retirement Income Fund
TIAA-CREF Bond Index	$	17,318,318	$	1,342,351	$	733,442	$	(10,989	)	$	95,670	$	17,980,500
TIAA-CREF Emerging Markets Equity Index		941,921		81,955		51,585		158			—		1,035,856
TIAA-CREF Equity Index		9,776,225		711,286		585,216		8,837			—		10,369,638
TIAA-CREF Inflation-Linked Bond		3,486,035		327,743		178,990		(11,448	)		44,324		3,618,207
TIAA-CREF International Equity Index		3,237,507		234,533		156,885		(13	)		—		3,273,992
	$	34,760,006	$	2,697,868	$	1,706,118	$	(13,455	)	$	139,994	$	36,278,193
Lifecycle Index 2010 Fund
TIAA-CREF Bond Index	$	73,187,291	$	5,165,501	$	1,719,884	$	(29,239	)	$	404,598	$	76,854,608
TIAA-CREF Emerging Markets Equity Index		4,947,728		276,523		100,845		499			—		5,456,391
TIAA-CREF Equity Index		51,353,161		2,518,567		1,677,489		28,582			—		54,612,108
TIAA-CREF Inflation-Linked Bond		11,952,031		1,087,700		282,363		(18,322	)		152,954		12,700,144
TIAA-CREF International Equity Index		17,006,236		904,005		460,215		8,273			—		17,229,541
	$	158,446,447	$	9,952,296	$	4,240,796	$	(10,207	)	$	557,552	$	166,852,792
Lifecycle Index 2015 Fund
TIAA-CREF Bond Index	$	120,446,402	$	9,544,821	$	2,723,745	$	(55,155	)	$	676,905	$	127,643,196
TIAA-CREF Emerging Markets Equity Index		9,941,695		577,888		190,925		(1,612	)		—		11,001,812
TIAA-CREF Equity Index		103,337,257		3,773,292		2,084,940		(3,495	)		—		109,904,447
TIAA-CREF Inflation-Linked Bond		15,724,686		1,537,975		332,949		(23,302	)		203,965		16,855,676
TIAA-CREF International Equity Index		34,233,588		1,549,728		603,144		(14,037	)		—		34,720,059
	$	283,683,628	$	16,983,704	$	5,935,703	$	(97,601	)	$	880,870	$	300,125,190
Lifecycle Index 2020 Fund
TIAA-CREF Bond Index	$	150,802,408	$	13,287,099	$	1,587,032	$	(33,122	)	$	853,235	$	162,990,389
TIAA-CREF Emerging Markets Equity Index		16,700,305		1,083,941		111,160		(3,639	)		—		18,814,715
TIAA-CREF Equity Index		173,599,042		7,830,198		1,731,342		10,501			—		188,011,211
TIAA-CREF Inflation-Linked Bond		14,614,119		1,660,990		82,524		(6,493	)		192,053		16,125,407
TIAA-CREF International Equity Index		57,510,673		2,859,073		260,993		(912	)		—		59,341,600
	$	413,226,547	$	26,721,301	$	3,773,051	$	(33,665	)	$	1,045,288	$	445,283,322
Lifecycle Index 2025 Fund
TIAA-CREF Bond Index	$	127,362,829	$	11,520,870	$	396,469	$	(8,795	)	$	724,568	$	138,907,499
TIAA-CREF Emerging Markets Equity Index		19,120,269		1,330,735		49,921		(1,467	)		—		21,718,127
TIAA-CREF Equity Index		198,612,185		9,856,368		1,238,403		(5,327	)		—		216,801,623
TIAA-CREF Inflation-Linked Bond		6,396,525		1,020,598		9,856		(774	)		84,974		7,378,237
TIAA-CREF International Equity Index		65,801,795		3,921,716		300,638		(9,209	)		—		68,531,876
	$	417,293,603	$	27,650,287	$	1,995,287	$	(25,572	)	$	809,542	$	453,337,362

13

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

Issue	Value at May 31, 2014		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifecycle Index 2030 Fund
TIAA-CREF Bond Index	$	103,839,723	$	10,807,522	$	530,674	$	(12,362	)	$	593,351	$	114,459,780
TIAA-CREF Emerging Markets Equity Index		22,040,806		1,688,957		112,367		(3,397	)		—		25,138,113
TIAA-CREF Equity Index		229,203,411		11,923,635		1,114,441		2,045			—		251,064,841
TIAA-CREF International Equity Index		75,936,947		4,611,282		206,914		116			—		79,308,277
	$	431,020,887	$	29,031,396	$	1,964,396	$	(13,598	)	$	593,351	$	469,971,011
Lifecycle Index 2035 Fund
TIAA-CREF Bond Index	$	67,878,093	$	7,725,084	$	457,670	$	(10,414	)	$	389,767	$	75,372,748
TIAA-CREF Emerging Markets Equity Index		23,778,004		1,918,016		151,360		(5,208	)		—		27,188,646
TIAA-CREF Equity Index		247,165,387		13,014,119		1,109,079		(520	)		—		270,983,075
TIAA-CREF International Equity Index		81,833,250		5,294,654		386,264		(7,186	)		—		85,608,572
	$	420,654,734	$	27,951,873	$	2,104,373	$	(23,328	)	$	389,767	$	459,153,041
Lifecycle Index 2040 Fund
TIAA-CREF Bond Index	$	49,939,539	$	3,738,556	$	302,958	$	(6,248	)	$	281,330	$	53,532,056
TIAA-CREF Emerging Markets Equity Index		30,287,947		2,366,536		25,516		(475	)		—		34,722,062
TIAA-CREF Equity Index		314,832,411		15,345,169		272,631		284			—		345,049,312
TIAA-CREF International Equity Index		104,237,016		6,600,468		60,373		(503	)		—		109,339,659
	$	499,296,913	$	28,050,729	$	661,478	$	(6,942	)	$	281,330	$	542,643,089
Lifecycle Index 2045 Fund
TIAA-CREF Bond Index	$	21,772,293	$	2,527,169	$	290,317	$	(6,055	)	$	124,681	$	24,081,725
TIAA-CREF Emerging Markets Equity Index		13,204,916		1,669,363		154,437		(3,574	)		—		15,649,055
TIAA-CREF Equity Index		137,258,372		11,423,436		471,672		(95	)		—		154,946,401
TIAA-CREF International Equity Index		45,444,517		4,641,032		157,574		(3,083	)		—		49,284,486
	$	217,680,098	$	20,261,000	$	1,074,000	$	(12,807	)	$	124,681	$	243,961,667
Lifecycle Index 2050 Fund
TIAA-CREF Bond Index	$	13,794,278	$	1,637,429	$	101,717	$	(2,204	)	$	79,213	$	15,376,286
TIAA-CREF Emerging Markets Equity Index		8,366,123		1,059,279		22,063		(862	)		—		9,993,473
TIAA-CREF Equity Index		86,962,911		7,609,661		157,303		(5	)		—		98,711,970
TIAA-CREF International Equity Index		28,792,300		3,145,631		57,917		(355	)		—		31,475,329
	$	137,915,612	$	13,452,000	$	339,000	$	(3,426	)	$	79,213	$	155,557,058
Lifecycle Index 2055 Fund
TIAA-CREF Bond Index	$	2,929,927	$	408,119	$	8,388	$	(183	)	$	17,107	$	3,340,124
TIAA-CREF Emerging Markets Equity Index		1,776,982		271,764		5,564		(660	)		—		2,170,197
TIAA-CREF Equity Index		18,471,072		2,170,424		31,593		(306	)		—		21,539,187
TIAA-CREF International Equity Index		6,115,529		810,443		3,455		(141	)		—		6,834,222
	$	29,293,510	$	3,660,750	$	49,000	$	(1,290	)	$	17,107	$	33,883,730

14

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

Note 4—investments

Net unrealized appreciation (depreciation): At August 31, 2014, 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	$	31,240,338	$	5,037,855		$—		$	5,037,855
Lifecycle Index 2010		139,848,880		27,003,912		—			27,003,912
Lifecycle Index 2015		248,625,328		51,499,862		—			51,499,862
Lifecycle Index 2020		366,772,285		78,511,037		—			78,511,037
Lifecycle Index 2025		367,565,290		85,792,871		(20,799	)		85,772,072
Lifecycle Index 2030		371,501,029		98,469,982		—			98,469,982
Lifecycle Index 2035		355,333,624		103,819,417		—			103,819,417
Lifecycle Index 2040		408,021,477		134,621,612		—			134,621,612
Lifecycle Index 2045		192,796,476		51,165,191		—			51,165,191
Lifecycle Index 2050		122,432,799		33,124,259		—			33,124,259
Lifecycle Index 2055		28,070,334		5,813,396		—			5,813,396

15

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Income Fund

TIAA-CREF LIFESTYLE FUNDS
LIFESTYLE INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.9%(a)
FIXED INCOME - 39.9%
	834,502	TIAA-CREF Bond Fund	$	8,845,722
	860,004	TIAA-CREF Bond Plus Fund		9,270,842
	44,778	TIAA-CREF High-Yield Fund		466,137
		TOTAL FIXED INCOME		18,582,701
INTERNATIONAL EQUITY - 6.4%
	61,398	TIAA-CREF Emerging Markets Equity Fund		715,285
	55,935	TIAA-CREF Enhanced International Equity Index Fund		465,939
	15,644	TIAA-CREF Global Natural Resources Fund		160,979
	76,294	TIAA-CREF International Equity Fund		878,141
	70,096	TIAA-CREF International Opportunities Fund		766,850
		TOTAL INTERNATIONAL EQUITY		2,987,194
SHORT-TERM FIXED INCOME - 39.7%
	2,993	TIAA-CREF Money Market Fund		2,993
	1,776,469	TIAA-CREF Short-Term Bond Fund		18,510,810
		TOTAL SHORT-TERM FIXED INCOME		18,513,803
U.S. EQUITY - 13.9%
	49,995	TIAA-CREF Enhanced Large-Cap Growth Index Fund		603,942
	52,372	TIAA-CREF Enhanced Large-Cap Value Index Fund		589,184
	108,350	TIAA-CREF Growth & Income Fund		1,405,296
	102,637	TIAA-CREF Large-Cap Growth Fund		1,671,952
	86,276	TIAA-CREF Large-Cap Value Fund		1,629,752
	1,891	TIAA-CREF Mid-Cap Growth Fund		45,941
	1,532	TIAA-CREF Mid-Cap Value Fund		38,527
	26,805	TIAA-CREF Small-Cap Equity Fund		517,597
		TOTAL U.S. EQUITY		6,502,191
		TOTAL TIAA-CREF FUNDS		46,585,889
		(Cost $44,892,974)
		TOTAL INVESTMENTS - 99.9%		46,585,889
		(Cost $44,892,974)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		49,033
		NET ASSETS - 100.0%	$	46,634,922

(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)
August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.6%(a)
FIXED INCOME - 39.7%
	782,275	TIAA-CREF Bond Fund	$	8,292,117
	2,552,508	TIAA-CREF Bond Plus Fund		27,516,041
	88,636	TIAA-CREF High-Yield Fund		922,706
		TOTAL FIXED INCOME		36,730,864
INTERNATIONAL EQUITY - 12.2%
	198,215	TIAA-CREF Emerging Markets Equity Fund		2,309,205
	246,838	TIAA-CREF Enhanced International Equity Index Fund		2,056,163
	61,217	TIAA-CREF Global Natural Resources Fund		629,926
	298,536	TIAA-CREF International Equity Fund		3,436,151
	262,065	TIAA-CREF International Opportunities Fund		2,866,996
		TOTAL INTERNATIONAL EQUITY		11,298,441
SHORT-TERM FIXED INCOME - 19.8%
	4,722	TIAA-CREF Money Market Fund		4,722
	1,761,357	TIAA-CREF Short-Term Bond Fund		18,353,339
		TOTAL SHORT-TERM FIXED INCOME		18,358,061
U.S. EQUITY - 27.9%
	206,986	TIAA-CREF Enhanced Large-Cap Growth Index Fund		2,500,386
	217,136	TIAA-CREF Enhanced Large-Cap Value Index Fund		2,442,785
	423,987	TIAA-CREF Growth & Income Fund		5,499,114
	401,631	TIAA-CREF Large-Cap Growth Fund		6,542,571
	337,905	TIAA-CREF Large-Cap Value Fund		6,383,017
	10,217	TIAA-CREF Mid-Cap Growth Fund		248,170
	8,698	TIAA-CREF Mid-Cap Value Fund		218,764
	105,051	TIAA-CREF Small-Cap Equity Fund		2,028,537
		TOTAL U.S. EQUITY		25,863,344
		TOTAL TIAA-CREF FUNDS		92,250,710
		(Cost $86,936,440)
		TOTAL INVESTMENTS - 99.6%		92,250,710
		(Cost $86,936,440)
		OTHER ASSETS & LIABILITIES, NET - 0.4%		382,255
		NET ASSETS - 100.0%	$	92,632,965

(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)
August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 100.0%(a)
FIXED INCOME - 39.7%
	4,085,088	TIAA-CREF Bond Plus Fund	$	44,037,247
	108,906	TIAA-CREF High-Yield Fund		1,133,707
		TOTAL FIXED INCOME		45,170,954
INTERNATIONAL EQUITY - 18.1%
	340,080	TIAA-CREF Emerging Markets Equity Fund		3,961,936
	472,724	TIAA-CREF Enhanced International Equity Index Fund		3,937,793
	112,893	TIAA-CREF Global Natural Resources Fund		1,161,669
	550,543	TIAA-CREF International Equity Fund		6,336,750
	475,489	TIAA-CREF International Opportunities Fund		5,201,850
		TOTAL INTERNATIONAL EQUITY		20,599,998
SHORT-TERM FIXED INCOME - 0.0%
	6,346	TIAA-CREF Money Market Fund		6,346
		TOTAL SHORT-TERM FIXED INCOME		6,346
U.S. EQUITY - 42.2%
	379,401	TIAA-CREF Enhanced Large-Cap Growth Index Fund		4,583,161
	397,947	TIAA-CREF Enhanced Large-Cap Value Index Fund		4,476,904
	781,886	TIAA-CREF Growth & Income Fund		10,141,058
	740,659	TIAA-CREF Large-Cap Growth Fund		12,065,327
	623,493	TIAA-CREF Large-Cap Value Fund		11,777,789
	25,126	TIAA-CREF Mid-Cap Growth Fund		610,302
	22,164	TIAA-CREF Mid-Cap Value Fund		557,435
	193,677	TIAA-CREF Small-Cap Equity Fund		3,739,912
		TOTAL U.S. EQUITY		47,951,888
		TOTAL TIAA-CREF FUNDS		113,729,186
		(Cost $104,690,218)
		TOTAL INVESTMENTS - 100.0%		113,729,186
		(Cost $104,690,218)
		OTHER ASSETS & LIABILITIES, NET - 0.0%		47,323
		NET ASSETS - 100.0%	$	113,776,509

(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)
August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 100.1%(a)
FIXED INCOME - 19.7%
	967,997	TIAA-CREF Bond Plus Fund	$	10,435,004
	53,690	TIAA-CREF High-Yield Fund		558,912
		TOTAL FIXED INCOME		10,993,916
INTERNATIONAL EQUITY - 24.0%
	213,035	TIAA-CREF Emerging Markets Equity Fund		2,481,855
	314,207	TIAA-CREF Enhanced International Equity Index Fund		2,617,346
	73,498	TIAA-CREF Global Natural Resources Fund		756,293
	360,406	TIAA-CREF International Equity Fund		4,148,279
	309,043	TIAA-CREF International Opportunities Fund		3,380,929
		TOTAL INTERNATIONAL EQUITY		13,384,702
SHORT-TERM FIXED INCOME - 0.0%
	3,306	TIAA-CREF Money Market Fund		3,306
		TOTAL SHORT-TERM FIXED INCOME		3,306
U.S. EQUITY - 56.4%
	247,161	TIAA-CREF Enhanced Large-Cap Growth Index Fund		2,985,703
	259,218	TIAA-CREF Enhanced Large-Cap Value Index Fund		2,916,208
	510,906	TIAA-CREF Growth & Income Fund		6,626,457
	483,967	TIAA-CREF Large-Cap Growth Fund		7,883,824
	407,720	TIAA-CREF Large-Cap Value Fund		7,701,836
	18,491	TIAA-CREF Mid-Cap Growth Fund		449,148
	16,489	TIAA-CREF Mid-Cap Value Fund		414,702
	126,609	TIAA-CREF Small-Cap Equity Fund		2,444,815
		TOTAL U.S. EQUITY		31,422,693
		TOTAL TIAA-CREF FUNDS		55,804,617
		(Cost $48,847,601)
		TOTAL INVESTMENTS - 100.1%		55,804,617
		(Cost $48,847,601)
		OTHER ASSETS & LIABILITIES, NET - (0.1)%		(56,470	)
		NET ASSETS - 100.0%	$	55,748,147

(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)

August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 99.9%(a)
INTERNATIONAL EQUITY - 29.8%
	227,284	TIAA-CREF Emerging Markets Equity Fund	$	2,647,863
	346,617	TIAA-CREF Enhanced International Equity Index Fund		2,887,315
	80,233	TIAA-CREF Global Natural Resources Fund		825,598
	393,318	TIAA-CREF International Equity Fund		4,527,093
	333,789	TIAA-CREF International Opportunities Fund		3,651,655
		TOTAL INTERNATIONAL EQUITY		14,539,524
SHORT-TERM FIXED INCOME - 0.0%
	4,048	TIAA-CREF Money Market Fund		4,048
		TOTAL SHORT-TERM FIXED INCOME		4,048
U.S. EQUITY - 70.1%
	268,324	TIAA-CREF Enhanced Large-Cap Growth Index Fund		3,241,358
	281,535	TIAA-CREF Enhanced Large-Cap Value Index Fund		3,167,266
	555,309	TIAA-CREF Growth & Income Fund		7,202,358
	526,369	TIAA-CREF Large-Cap Growth Fund		8,574,549
	443,380	TIAA-CREF Large-Cap Value Fund		8,375,450
	21,489	TIAA-CREF Mid-Cap Growth Fund		521,967
	19,239	TIAA-CREF Mid-Cap Value Fund		483,853
	137,719	TIAA-CREF Small-Cap Equity Fund		2,659,362
		TOTAL U.S. EQUITY		34,226,163
		TOTAL TIAA-CREF FUNDS		48,769,735
		(Cost $40,810,785)
		TOTAL INVESTMENTS - 99.9%		48,769,735
		(Cost $40,810,785)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		62,470
		NET ASSETS - 100.0%	$	48,832,205

(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, is registered with the Commission as an investment adviser and provides investment management services for the Funds. The Funds offer Institutional, Premier, 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 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: Security 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:

6

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

Investments in registered investment companies: These investments are valued at their 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 August 31, 2014, there were no transfers between levels by the Funds.

As of August 31, 2014, all of the investments in the Funds were valued based on Level 1 inputs.

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, 2014		Purchase cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifestyle Income Fund
TIAA-CREF Bond	$	7,200,882	$	1,652,488	$	34,612	$	(106	)	$	42,394	$	8,845,722
TIAA-CREF Bond Plus		7,992,250		1,296,375		53,067		(192	)		56,584		9,270,842
TIAA-CREF Emerging Markets Equity		603,474		96,145		14,257		384			—		715,285
TIAA-CREF Enhanced International Equity Index		419,568		55,751		3,098		184			—		465,939
TIAA-CREF Enhanced Large-Cap Growth Index		510,092		69,997		2,534		280			—		603,942
TIAA-CREF Enhanced Large-Cap Value Index		492,875		72,725		446		34			—		589,184
TIAA-CREF Global Natural Resources		130,749		28,211		—		—			—		160,979
TIAA-CREF Growth & Income		1,186,424		159,455		2,091		(7	)		3,479		1,405,296
TIAA-CREF High-Yield		796,759		57,698		384,397		(192	)		10,491		466,137
TIAA-CREF International Equity		787,186		141,219		19,137		2,892			—		878,141
TIAA-CREF International Opportunities		672,666		109,832		9,013		545			—		766,850
TIAA-CREF Large-Cap Growth		1,417,557		184,466		27,472		3,295			—		1,671,952
TIAA-CREF Large-Cap Value		1,365,362		218,764		17,990		1,559			—		1,629,752
TIAA-CREF Mid-Cap Growth		38,628		8,953		3,804		225			—		45,941
TIAA-CREF Mid-Cap Value		28,512		9,081		321		45			—		38,527
TIAA-CREF Money Market		2,993		—		—		—			—		2,993
TIAA-CREF Short-Term Bond		15,927,872		2,659,364		44,602		(56	)		55,237		18,510,810
TIAA-CREF Small-Cap Equity		430,445		79,180		7,222		938			—		517,597
	$	40,004,294	$	6,899,704	$	624,063	$	9,828		$	168,185	$	46,585,889

7

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

Issue	Value at May 31, 2014		Purchase cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifestyle Conservative Fund
TIAA-CREF Bond	$	6,267,190	$	2,134,242	$	135,027	$	(529	)	$	37,577	$	8,292,117
TIAA-CREF Bond Plus		23,367,610		4,146,222		103,348		(255	)		167,452		27,516,041
TIAA-CREF Emerging Markets Equity		1,913,523		306,596		6,576		(23	)		—		2,309,205
TIAA-CREF Enhanced International Equity Index		1,826,544		258,849		718		(10	)		—		2,056,163
TIAA-CREF Enhanced Large-Cap Growth Index		2,114,162		286,434		10,249		(115	)		—		2,500,386
TIAA-CREF Enhanced Large-Cap Value Index		2,043,161		311,426		11,514		(82	)		—		2,442,785
TIAA-CREF Global Natural Resources		513,250		108,863		—		—			—		629,926
TIAA-CREF Growth & Income		4,619,489		673,194		34,014		(626	)		13,660		5,499,114
TIAA-CREF High-Yield		1,561,905		148,914		780,184		(3,029	)		20,683		922,706
TIAA-CREF International Equity		3,060,230		511,609		9,130		(685	)		—		3,436,151
TIAA-CREF International Opportunities		2,493,181		402,787		2,117		(87	)		—		2,866,996
TIAA-CREF Large-Cap Growth		5,513,932		705,211		59,525		3,912			—		6,542,571
TIAA-CREF Large-Cap Value		5,340,590		808,119		14,517		(91	)		—		6,383,017
TIAA-CREF Mid-Cap Growth		210,397		31,850		5,428		(243	)		—		248,170
TIAA-CREF Mid-Cap Value		170,964		43,053		2,599		(70	)		—		218,764
TIAA-CREF Money Market		4,722		—		—		—			—		4,722
TIAA-CREF Short-Term Bond		15,631,526		2,881,279		128,695		(329	)		54,528		18,353,339
TIAA-CREF Small-Cap Equity		1,685,808		296,443		11,699		(425	)		—		2,028,537
	$	78,338,184	$	14,055,091	$	1,315,340	$	(2,687	)	$	293,900	$	92,250,710
Lifestyle Moderate Fund
TIAA-CREF Bond Plus	$	38,707,494	$	5,834,839	$	668,415	$	(1,996	)	$	266,528	$	44,037,247
TIAA-CREF Emerging Markets Equity		3,453,727		390,706		51,049		(373	)		—		3,961,936
TIAA-CREF Enhanced International Equity Index		3,680,683		352,019		41,009		2,320			—		3,937,793
TIAA-CREF Enhanced Large-Cap Growth Index		4,073,689		372,545		68,203		(51	)		—		4,583,161
TIAA-CREF Enhanced Large-Cap Value Index		3,944,367		392,893		47,020		322			—		4,476,904
TIAA-CREF Global Natural Resources		995,088		167,582		16,042		87			—		1,161,669
TIAA-CREF Growth & Income		8,976,999		803,889		94,095		(3,612	)		25,686		10,141,058
TIAA-CREF High-Yield		2,028,178		98,919		983,402		(3,859	)		26,176		1,133,707
TIAA-CREF International Equity		5,942,807		798,760		169,219		9,495			—		6,336,750
TIAA-CREF International Opportunities		4,757,631		579,965		86,926		(1,150	)		—		5,201,850
TIAA-CREF Large-Cap Growth		10,724,422		885,729		264,234		2,110			—		12,065,327
TIAA-CREF Large-Cap Value		10,376,182		1,040,130		111,174		(1,403	)		—		11,777,789
TIAA-CREF Mid-Cap Growth		549,122		47,562		15,284		(1,205	)		—		610,302
TIAA-CREF Mid-Cap Value		471,155		70,579		4,065		404			—		557,435
TIAA-CREF Money Market		6,346		—		—		—			—		6,346
TIAA-CREF Small-Cap Equity		3,265,227		378,868		16,847		(845	)		—		3,739,912
	$	101,953,117	$	12,214,985	$	2,636,984	$	244		$	318,390	$	113,729,186

8

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

Issue	Value at May 31, 2014		Purchase cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
Lifestyle Growth Fund
TIAA-CREF Bond Plus	$	8,992,716	$	1,557,624	$	153,665	$	(482	)	$	63,247	$	10,435,004
TIAA-CREF Emerging Markets Equity		2,159,856		259,781		43,337		(605	)		—		2,481,855
TIAA-CREF Enhanced International Equity Index		2,459,587		238,527		41,988		(892	)		—		2,617,346
TIAA-CREF Enhanced Large-Cap Growth Index		2,663,455		253,120		64,131		969			—		2,985,703
TIAA-CREF Enhanced Large-Cap Value Index		2,572,429		270,850		47,771		349			—		2,916,208
TIAA-CREF Global Natural Resources		653,308		110,887		17,570		(12	)		—		756,293
TIAA-CREF Growth & Income		5,874,334		565,466		106,618		(2,798			17,264		6,626,457
TIAA-CREF High-Yield		989,284		90,955		514,552		(2,819	)		12,964		558,912
TIAA-CREF International Equity		3,886,128		504,704		79,857		2,027			—		4,148,279
TIAA-CREF International Opportunities		3,080,114		414,089		76,285		(2,599	)		—		3,380,929
TIAA-CREF Large-Cap Growth		7,005,224		650,824		245,329		16,708			—		7,883,824
TIAA-CREF Large-Cap Value		6,788,966		719,309		111,848		(1,723	)		—		7,701,836
TIAA-CREF Mid-Cap Growth		405,355		45,288		22,799		(1,463	)		—		449,148
TIAA-CREF Mid-Cap Value		354,533		53,100		7,317		(85	)		—		414,702
TIAA-CREF Money Market		3,306		—		—		—			—		3,306
TIAA-CREF Small-Cap Equity		2,145,971		279,508		50,464		(3,792	)		—		2,444,815
	$	50,034,566	$	6,014,032	$	1,583,531	$	2,783		$	93,475	$	55,804,617
Lifestyle Aggressive Growth Fund
TIAA-CREF Emerging Markets Equity	$	2,348,330	$	209,469	$	25,719	$	512		$	—	$	2,647,863
TIAA-CREF Enhanced International Equity Index		2,769,296		186,424		27,034		(474	)		—		2,887,315
TIAA-CREF Enhanced Large-Cap Growth Index		2,959,829		164,045		31,386		1,695			—		3,241,358
TIAA-CREF Enhanced Large-Cap Value Index		2,862,070		194,002		23,628		(207	)		—		3,167,266
TIAA-CREF Global Natural Resources		727,936		100,803		14,261		(287	)		—		825,598
TIAA-CREF Growth & Income		6,537,160		358,723		22,730		593			19,141		7,202,358
TIAA-CREF International Equity		4,332,253		443,582		71,833		(2,515	)		—		4,527,093
TIAA-CREF International Opportunities		3,419,404		279,937		9,179		(233	)		—		3,651,655
TIAA-CREF Large-Cap Growth		7,821,384		403,127		177,116		21,052			—		8,574,549
TIAA-CREF Large-Cap Value		7,573,903		527,448		67,258		1,487			—		8,375,450
TIAA-CREF Mid-Cap Growth		482,691		27,493		13,467		(952	)		—		521,967
TIAA-CREF Mid-Cap Value		425,401		41,851		869		(24	)		—		483,853
TIAA-CREF Money Market		4,048		—		—		—			—		4,048
TIAA-CREF Small-Cap Equity		2,389,618		201,346		11,269		(478	)		—		2,659,362
	$	44,653,323	$	3,138,250	$	495,749	$	20,169		$	19,141	$	48,769,735

9

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

Note 4—investments

Net unrealized appreciation (depreciation): At August 31, 2014, 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	$	44,892,974	$	1,692,915	$	—		$	1,692,915
Lifestyle Conservative		86,936,440		5,314,732		(462	)		5,314,270
Lifestyle Moderate		104,690,218		9,038,968		—			9,038,968
Lifestyle Growth		48,847,601		6,957,016		—			6,957,016
Lifestyle Aggressive Growth		40,810,785		7,958,950		—			7,958,950

10

TIAA-CREF Funds – Managed Allocation Fund

TIAA-CREF FUNDS
MANAGED ALLOCATION FUND
SCHEDULE OF INVESTMENTS (unaudited)
August 31, 2014

SHARES		SECURITY	VALUE
TIAA-CREF FUNDS - 100.0%(a)
FIXED INCOME - 39.5%
	26,867,821	TIAA-CREF Bond Plus Fund	$	289,635,105
	719,979	TIAA-CREF High-Yield Fund		7,494,983
		TOTAL FIXED INCOME		297,130,088
INTERNATIONAL EQUITY - 18.2%
	2,254,334	TIAA-CREF Emerging Markets Equity Fund		26,262,995
	3,963,987	TIAA-CREF Enhanced International Equity Index Fund		33,020,007
	745,960	TIAA-CREF Global Natural Resources Fund		7,675,925
	3,061,076	TIAA-CREF International Equity Fund		35,232,987
	3,148,079	TIAA-CREF International Opportunities Fund		34,439,979
		TOTAL INTERNATIONAL EQUITY		136,631,893
SHORT-TERM FIXED INCOME - 0.0%
	73,544	TIAA-CREF Money Market Fund		73,544
		TOTAL SHORT-TERM FIXED INCOME		73,544
U.S. EQUITY - 42.3%
	5,002,212	TIAA-CREF Enhanced Large-Cap Growth Index Fund		60,426,726
	5,255,981	TIAA-CREF Enhanced Large-Cap Value Index Fund		59,129,788
	3,889,157	TIAA-CREF Growth & Income Fund		50,442,360
	3,686,433	TIAA-CREF Large-Cap Growth Fund		60,051,987
	3,104,877	TIAA-CREF Large-Cap Value Fund		58,651,134
	103,632	TIAA-CREF Mid-Cap Growth Fund		2,517,227
	86,329	TIAA-CREF Mid-Cap Value Fund		2,171,174
	1,284,539	TIAA-CREF Small-Cap Equity Fund		24,804,446
		TOTAL U.S. EQUITY		318,194,842
		TOTAL TIAA-CREF FUNDS		752,030,367
		(Cost $630,211,939)
		TOTAL INVESTMENTS - 100.0%		752,030,367
		(Cost $630,211,939)
		OTHER ASSETS & LIABILITIES, NET - 0.0%		215,619
		NET ASSETS - 100.0%	$	752,245,986

^(a) The Fund invests its 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 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 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 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 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: Security 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:

2

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

Investments in registered investment companies: These investments are valued at their 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 August 31, 2014, there were no transfers between levels by the Fund.

As of August 31, 2014, all of the investments in the Fund were valued based on Level 1 inputs.

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, 2014		Purchases cost		Sales proceeds		Realized gain (loss)			Dividend income		Value at August 31, 2014
TIAA-CREF Managed Allocation Fund
TIAA-CREF Bond Plus	$	277,892,585	$	13,682,183	$	3,008,223	$	(15,013	)	$	1,878,034	$	289,635,105
TIAA-CREF Emerging Markets Equity		24,977,579		93,276		—		—			—		26,262,995
TIAA-CREF Enhanced International Equity Index		34,211,263		—		716,354		(28,555	)		—		33,020,007
TIAA-CREF Enhanced Large-Cap Growth Index		58,835,658		—		1,246,293		191,242			—		60,426,726
TIAA-CREF Enhanced Large-Cap Value Index		56,959,741		51,302		467,583		85,112			—		59,129,788
TIAA-CREF Global Natural Resources		7,201,937		358,724		—		—			—		7,675,925
TIAA-CREF Growth & Income		48,988,384		580,964		1,494,701		312,379			140,668		50,442,360
TIAA-CREF High Yield		14,593,820		—		7,020,284		32,431			181,391		7,494,983
TIAA-CREF International Equity		36,060,296		1,376,048		814,043		(26,843	)		—		35,232,987
TIAA-CREF International Opportunities		34,163,662		651,035		16,857		1,319			—		34,439,979
TIAA-CREF Large-Cap Growth		58,320,941		386,153		2,449,498		418,022			—		60,051,987
TIAA-CREF Large-Cap Value		56,216,623		200,189		222,242		22,218			—		58,651,134
TIAA-CREF Mid-Cap Growth		2,477,443		101,649		190,346		37,168			—		2,517,227
TIAA-CREF Mid-Cap Value		2,093,054		43,389		46,529		9,743			—		2,171,174
TIAA-CREF Money Market		73,544		—		—		—			—		73,544
TIAA-CREF Small-Cap Equity		23,844,711		541,423		358,871		35,148			—		24,804,446
	$	736,911,241	$	18,066,335	$	18,051,824	$	1,074,371		$	2,200,093	$	752,030,367

Note 4—investments

Net unrealized appreciation (depreciation): At August 31, 2014, the cost of portfolio investments for federal income tax purposes was $630,211,939. Net unrealized appreciation (depreciation) of portfolio investments for federal income tax purposes was $121,818,428, consisting of gross unrealized appreciation of $121,818,428. There was no gross unrealized depreciation.

3

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: October 16, 2014	By:	/s/ Robert G. Leary
		Robert G. Leary
		President and Principal Executive Officer

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: October 16, 2014	By:	/s/ Robert G. Leary
		Robert G. Leary
		President and Principal Executive Officer
		(principal executive officer)

Date: October 16, 2014	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