N-Q 1 c85953_nq.htm

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)

 

Jeremy D. Franklin, Esq.

c/o TIAA

8500 Andrew Carnegie Blvd.

Charlotte, N.C. 28262-8500

(Name and address of agent for service)

 

Registrant’s telephone number, including area code: 704-595-1000

 

Date of fiscal year end: October 31

 

Date of reporting period: July 31, 2016

 

 

TIAA-CREF FUNDS - Enhanced Large-Cap Growth Index Fund

 

TIAA-CREF FUNDS

ENHANCED LARGE-CAP GROWTH INDEX FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES        COMPANY  VALUE  
                 
COMMON STOCKS - 99.5%        
                 
AUTOMOBILES & COMPONENTS - 0.8%        
 72,570      Lear Corp  $8,233,066 
 2,583   *,e  Tesla Motors, Inc   606,463 
 108,581      Thor Industries, Inc   8,310,790 
        TOTAL AUTOMOBILES & COMPONENTS   17,150,319 
                 
CAPITAL GOODS - 9.0%        
 108,103      3M Co   19,281,251 
 172,790      Boeing Co   23,095,111 
 66,131      BWX Technologies, Inc   2,434,282 
 96,893   e  Deere & Co   7,529,555 
 138,688      Emerson Electric Co   7,752,659 
 302,058      General Electric Co   9,406,086 
 230,773   *  HD Supply Holdings, Inc   8,351,675 
 138,063      Honeywell International, Inc   16,060,869 
 49,698      Huntington Ingalls   8,576,881 
 124,585      Illinois Tool Works, Inc   14,377,109 
 82,112      Lockheed Martin Corp   20,752,166 
 262,108      Masco Corp   9,561,700 
 28,011      MSC Industrial Direct Co (Class A)   2,012,030 
 65,901      Northrop Grumman Corp   14,276,134 
 119,538      Paccar, Inc   7,049,156 
 88,468   *  Quanta Services, Inc   2,264,781 
 74,561      Raytheon Co   10,403,496 
 5,661      Rockwell Automation, Inc   647,619 
 143,895   *  Spirit Aerosystems Holdings, Inc (Class A)   6,242,165 
 69,060   *  United Rentals, Inc   5,502,010 
 14,577      Valmont Industries, Inc   1,908,858 
 3,167   e  W.W. Grainger, Inc   693,098 
        TOTAL CAPITAL GOODS   198,178,691 
                 
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%        
 348,297      Pitney Bowes, Inc   6,725,615 
 301,028      R.R. Donnelley & Sons Co   5,394,422 
 185,154      Waste Management, Inc   12,242,382 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   24,362,419 
                 
CONSUMER DURABLES & APPAREL - 2.2%        
 57,837      Brunswick Corp   2,869,872 
 70,401      Carter's, Inc   7,128,101 
 201,299      DR Horton, Inc   6,618,711 
 2,005      Hasbro, Inc   162,866 
 151,330      Leggett & Platt, Inc   7,955,418 
 243,314      Mattel, Inc   8,121,821 
1

TIAA-CREF FUNDS - Enhanced Large-Cap Growth Index Fund

 

SHARES      COMPANY  VALUE 
              
 744   *  Mohawk Industries, Inc  $155,452 
 149,358      Nike, Inc (Class B)   8,289,369 
 4,071   *  Under Armour, Inc   145,335 
 6,544   *,e  Under Armour, Inc (Class A)   258,226 
 37,334      Whirlpool Corp   7,181,568 
        TOTAL CONSUMER DURABLES & APPAREL   48,886,739 
                 
CONSUMER SERVICES - 3.0%        
 116,430      ARAMARK Holdings Corp   4,174,016 
 150,748      Brinker International, Inc   7,106,261 
 6,673      Marriott International, Inc (Class A)   478,454 
 162,581      McDonald's Corp   19,127,654 
 70,245      Six Flags Entertainment Corp   3,961,116 
 172,034      Starbucks Corp   9,986,574 
 40,962      Vail Resorts, Inc   5,860,433 
 526,520      Wendy's   5,086,183 
 121,956      Wyndham Worldwide Corp   8,661,315 
 14,444      Yum! Brands, Inc   1,291,582 
        TOTAL CONSUMER SERVICES   65,733,588 
                 
DIVERSIFIED FINANCIALS - 3.3%        
 19,882      Ameriprise Financial, Inc   1,905,491 
 145,152      Charles Schwab Corp   4,125,220 
 158,354      Discover Financial Services   9,000,841 
 50,001      Eaton Vance Corp   1,890,538 
 4,314      IntercontinentalExchange Group, Inc   1,139,759 
 456,000   e  iShares Russell 1000 Growth Index Fund   47,752,320 
 43,438   e  LPL Financial Holdings, Inc   1,170,654 
 12,503      Moody's Corp   1,325,443 
 51,275      T Rowe Price Group, Inc   3,624,629 
        TOTAL DIVERSIFIED FINANCIALS   71,934,895 
                 
ENERGY - 0.3%        
 50,441      Apache Corp   2,648,152 
 156,795      Cabot Oil & Gas Corp   3,868,133 
        TOTAL ENERGY   6,516,285 
                 
FOOD & STAPLES RETAILING - 1.8%        
 46,940      Costco Wholesale Corp   7,849,307 
 184,521      CVS Health Corp   17,108,787 
 140,232      Kroger Co   4,794,532 
 285,988   *,e  Sprouts Farmers Market, Inc   6,614,902 
 70,059      Sysco Corp   3,628,356 
        TOTAL FOOD & STAPLES RETAILING   39,995,884 
                 
FOOD, BEVERAGE & TOBACCO - 7.8%        
 500,392      Altria Group, Inc   33,876,538 
 2,552      Brown-Forman Corp (Class B)   250,581 
 148,935      Campbell Soup Co   9,274,183 
 468,614      Coca-Cola Co   20,445,629 
 217,255      ConAgra Foods, Inc   10,158,844 
 112,836      Dr Pepper Snapple Group, Inc   11,115,474 
2

TIAA-CREF FUNDS - Enhanced Large-Cap Growth Index Fund

 

SHARES      COMPANY  VALUE 
              
 225,690      General Mills, Inc  $16,224,854 
 9,845      Hershey Co   1,090,432 
 65,639      Ingredion, Inc   8,745,740 
 136,822      Kellogg Co   11,316,548 
 5,549      McCormick & Co, Inc   567,385 
 320,907      PepsiCo, Inc   34,953,190 
 15,943      Philip Morris International, Inc   1,598,445 
 34,530   e  Pilgrim's Pride Corp   802,823 
 140,937      Tyson Foods, Inc (Class A)   10,372,963 
        TOTAL FOOD, BEVERAGE & TOBACCO   170,793,629 
                 
HEALTH CARE EQUIPMENT & SERVICES - 7.4%        
 38,887      Aetna Inc   4,480,171 
 126,868      AmerisourceBergen Corp   10,807,885 
 31,528      Becton Dickinson & Co   5,548,928 
 152,021      Cardinal Health, Inc   12,708,955 
 124,658   *  Centene Corp   8,794,622 
 3,215      Cigna Corp   414,607 
 95,602   *  DaVita, Inc   7,412,979 
 206,843   *  Express Scripts Holding Co   15,734,547 
 130,709   *  HCA Holdings, Inc   10,081,585 
 4,161   *  Hologic, Inc   160,157 
 228      Humana, Inc   39,341 
 58,034   *  Laboratory Corp of America Holdings   8,099,225 
 84,130      McKesson Corp   16,368,333 
 143,070      Resmed, Inc   9,854,662 
 12,769      Stryker Corp   1,484,779 
 114,987   *  Tenet Healthcare Corp   3,519,752 
 239,434      UnitedHealth Group, Inc   34,286,949 
 106,638   *  VCA Antech, Inc   7,607,555 
 50,441   *  WellCare Health Plans, Inc   5,387,099 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   162,792,131 
                 
HOUSEHOLD & PERSONAL PRODUCTS - 1.3%        
 7,919      Church & Dwight Co, Inc   777,962 
 74,715      Clorox Co   9,792,895 
 3,847      Energizer Holdings, Inc   198,236 
 24,523      Estee Lauder Cos (Class A)   2,278,187 
 95,112   *,e  Herbalife Ltd   6,468,567 
 48,257      Kimberly-Clark Corp   6,251,694 
 37,287      Nu Skin Enterprises, Inc (Class A)   1,991,126 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   27,758,667 
                 
INSURANCE - 1.1%        
 36,392      Aon plc   3,896,492 
 210,035      Marsh & McLennan Cos, Inc   13,809,801 
 207,494      Progressive Corp   6,745,630 
        TOTAL INSURANCE   24,451,923 
                 
MATERIALS - 5.0%        
 21,982      Air Products & Chemicals, Inc   3,284,550 
 106,345      Avery Dennison Corp   8,283,212 
 55,671      Bemis Co, Inc   2,841,448 
3

TIAA-CREF FUNDS - Enhanced Large-Cap Growth Index Fund

 

SHARES      COMPANY  VALUE 
                 
 91,821      Celanese Corp (Series A)  $5,823,288 
 68,229      Eagle Materials, Inc   5,727,825 
 204,776      EI du Pont de Nemours & Co   14,164,356 
 494,337      Graphic Packaging Holding Co   6,742,757 
 118,538      LyondellBasell Industries AF S.C.A   8,921,170 
 108,317      Monsanto Co   11,565,006 
 221,787   *  Owens-Illinois, Inc   4,167,378 
 119,592      Packaging Corp of America   8,932,326 
 117,667      PPG Industries, Inc   12,320,912 
 185,686      Sealed Air Corp   8,760,665 
 10,060      Sherwin-Williams Co   3,015,284 
 153,792      Steel Dynamics, Inc   4,124,701 
        TOTAL MATERIALS   108,674,878 
                 
MEDIA - 5.0%        
 212,311      CBS Corp (Class B)   11,086,880 
 11,479   *  Charter Communications, Inc   2,696,073 
 363,748      Comcast Corp (Class A)   24,462,053 
 12,668   *  Discovery Communications, Inc (Class A)   317,840 
 375,045      Interpublic Group of Cos, Inc   8,648,538 
 132,878      Omnicom Group, Inc   10,934,531 
 252,713   e  Regal Entertainment Group (Class A)   5,943,810 
 172,517   *  Starz-Liberty Capital   5,215,189 
 73,679      Time Warner, Inc   5,647,495 
 123,725      Twenty-First Century Fox, Inc   3,296,034 
 30,196      Twenty-First Century Fox, Inc (Class B)   816,198 
 100,575      Viacom, Inc (Class B)   4,573,145 
 262,672      Walt Disney Co   25,203,378 
        TOTAL MEDIA   108,841,164 
                 
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.3%        
 272,735      AbbVie, Inc   18,063,239 
 88,263   *  Akorn, Inc   3,021,243 
 17,951   *  Alexion Pharmaceuticals, Inc   2,308,499 
 20,033   *  Allergan plc   5,067,347 
 174,759      Amgen, Inc   30,063,791 
 40,311   *  Biogen Idec, Inc   11,687,368 
 5,200   *  BioMarin Pharmaceutical, Inc   516,984 
 246,337      Bristol-Myers Squibb Co   18,428,471 
 122,548   *  Celgene Corp   13,748,660 
 85,382   *  Charles River Laboratories International, Inc   7,507,639 
 109,305      Eli Lilly & Co   9,060,292 
 309,413      Gilead Sciences, Inc   24,589,051 
 3,349   *  Incyte Corp   302,113 
 126,113      Johnson & Johnson   15,793,131 
 17,096   *  Medivation, Inc   1,093,973 
 5,635   *  Mettler-Toledo International, Inc   2,317,168 
 6,567   *  Regeneron Pharmaceuticals, Inc   2,791,763 
 23,988      Thermo Electron Corp   3,810,254 
 16,817   *  Vertex Pharmaceuticals, Inc   1,631,249 
 106,903   *  VWR Corp   3,348,202 
 41,377   *  Waters Corp   6,576,047 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   181,726,484 
4

TIAA-CREF FUNDS - Enhanced Large-Cap Growth Index Fund

 

SHARES      COMPANY  VALUE 
                 
REAL ESTATE - 2.0%        
 45,229      American Tower Corp  $5,236,161 
 6,066   *  CBRE Group, Inc   172,578 
 108,218      Crown Castle International Corp   10,500,393 
 2,541      Equinix, Inc   947,463 
 29,147      Equity Lifestyle Properties, Inc   2,397,049 
 2,544      Essex Property Trust, Inc   594,991 
 80,948      Gaming and Leisure Properties, Inc   2,900,367 
 143,395      Iron Mountain, Inc   5,909,308 
 12,035      Public Storage, Inc   2,875,402 
 50,411      Simon Property Group, Inc   11,445,313 
        TOTAL REAL ESTATE   42,979,025 
                 
RETAILING - 7.3%        
 76,655   *  Amazon.com, Inc   58,166,581 
 235   *  AutoZone, Inc   191,283 
 28,550   *  Bed Bath & Beyond, Inc   1,283,322 
 25,364   *  Burlington Stores, Inc   1,940,600 
 10,230      Dollar General Corp   969,190 
 2,278      Foot Locker, Inc   135,814 
 56,594   e  Gap, Inc   1,459,559 
 39,822      Genuine Parts Co   4,071,401 
 286,900      Home Depot, Inc   39,661,056 
 7,359   *  Liberty Interactive Corp   197,295 
 25,206   *  LKQ Corp   866,834 
 205,314      Lowe's Companies, Inc   16,893,236 
 19,378   *  Murphy USA, Inc   1,485,130 
 49,146   *  NetFlix, Inc   4,484,573 
 14,462   *  O'Reilly Automotive, Inc   4,203,091 
 7,306   *  Priceline.com, Inc   9,869,018 
 103,425      Ross Stores, Inc   6,394,768 
 86,528      TJX Companies, Inc   7,071,068 
 55,513   *  Urban Outfitters, Inc   1,659,839 
        TOTAL RETAILING   161,003,658 
                 
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.9%        
 81,542      Applied Materials, Inc   2,143,739 
 35,236      Broadcom Ltd   5,707,527 
 30,595      Intel Corp   1,066,542 
 31,336      Kla-Tencor Corp   2,372,449 
 4,591      Lam Research Corp   412,134 
 156,600      Linear Technology Corp   9,394,434 
 8,081      Microchip Technology, Inc   449,627 
 65,088      Nvidia Corp   3,716,525 
 481,841   *  ON Semiconductor Corp   4,832,865 
 191,286      Qualcomm, Inc   11,970,678 
 315,174      Texas Instruments, Inc   21,983,386 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   64,049,906 
                 
SOFTWARE & SERVICES - 20.9%        
 110,663      Accenture plc   12,483,893 
 33,073   *  Adobe Systems, Inc   3,236,524 
5

TIAA-CREF FUNDS - Enhanced Large-Cap Growth Index Fund

 

SHARES      COMPANY  VALUE 
                 
 46,122   *  Alliance Data Systems Corp  $10,682,778 
 58,488   *  Alphabet, Inc (Class A)   46,283,894 
 57,834   *  Alphabet, Inc (Class C)   44,462,201 
 32,040      Automatic Data Processing, Inc   2,849,958 
 102,615      Booz Allen Hamilton Holding Co   3,168,751 
 112,578   *  Citrix Systems, Inc   10,034,077 
 34,795   *  Cognizant Technology Solutions Corp (Class A)   2,000,365 
 193,942      CSRA, Inc   5,220,919 
 498,907   *  eBay, Inc   15,545,942 
 34,939   *  Electronic Arts, Inc   2,666,545 
 433,987   *  Facebook, Inc   53,788,349 
 79,603   *  First American Corp   3,206,409 
 438,686   *  First Data Corp   5,439,706 
 110,772   *  Fiserv, Inc   12,224,798 
 6,189   *  FleetCor Technologies, Inc   938,748 
 90,243      Global Payments, Inc   6,737,542 
 71,184   *,e  GoDaddy, Inc   2,129,825 
 167,337      International Business Machines Corp   26,877,669 
 32,499      Intuit, Inc   3,607,064 
 53,080      Jack Henry & Associates, Inc   4,737,390 
 14,329   *  LinkedIn Corp   2,761,628 
 175,244      MasterCard, Inc (Class A)   16,690,238 
 1,665,682      Microsoft Corp   94,410,856 
 32,748      Paychex, Inc   1,941,301 
 83,560   *  PayPal Holdings, Inc   3,111,774 
 168,319   *  Rackspace Hosting, Inc   3,943,714 
 103,831   *  Salesforce.com, Inc   8,493,376 
 163,605      Total System Services, Inc   8,330,767 
 99,561   *,e  VeriSign, Inc   8,622,978 
 360,782      Visa, Inc (Class A)   28,159,035 
 5,629      Western Union Co   112,580 
 53,750   *  WEX, Inc   5,035,300 
        TOTAL SOFTWARE & SERVICES   459,936,894 
                 
TECHNOLOGY HARDWARE & EQUIPMENT - 5.9%        
 29,870      Amphenol Corp (Class A)   1,777,862 
 1,062,325      Apple, Inc   110,704,888 
 59,321   *  F5 Networks, Inc   7,321,398 
 95,245      Motorola, Inc   6,608,098 
 108,253   *  NCR Corp   3,569,102 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   129,981,348 
                 
TELECOMMUNICATION SERVICES - 1.4%        
 200,668   *  T-Mobile US, Inc   9,298,955 
 377,899      Verizon Communications, Inc   20,939,384 
        TOTAL TELECOMMUNICATION SERVICES   30,238,339 
                 
TRANSPORTATION - 1.7%        
 36,792      Alaska Air Group, Inc   2,473,158 
 123,844      CH Robinson Worldwide, Inc   8,622,019 
 89,829      Delta Air Lines, Inc   3,480,874 
 39,441      FedEx Corp   6,385,498 
 66,897   *  JetBlue Airways Corp   1,226,222 
6

TIAA-CREF FUNDS - Enhanced Large-Cap Growth Index Fund

 

SHARES     COMPANY          VALUE  
                          
 153,826     Southwest Airlines Co          $ 5,693,100  
 6,553     Union Pacific Corp            609,757  
 89,122     United Parcel Service, Inc (Class B)            9,634,088  
       TOTAL TRANSPORTATION              38,124,716  
                        
       TOTAL COMMON STOCKS              2,184,111,582  
       (Cost $1,751,218,387)                
                     
PRINCIPAL   ISSUER  RATE   MATURITY
DATE		        
SHORT-TERM INVESTMENTS - 3.2%               
GOVERNMENT AGENCY DEBT - 0.9%               
$18,650,000    Federal Home Loan Bank (FHLB)   0.150%  08/01/16   18,650,000  
       TOTAL GOVERNMENT AGENCY DEBT              18,650,000  
                        
SHARES    COMPANY                   
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.3%         
 51,150,064  c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		        51,150,064  
       TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES     51,150,064  
                        
       TOTAL SHORT-TERM INVESTMENTS     69,800,064  
       (Cost $69,800,064)                
       TOTAL INVESTMENTS - 102.7%           2,253,911,646  
       (Cost $1,821,018,451)                
       OTHER ASSETS & LIABILITIES, NET - (2.7)%           (58,314,453 )
       NET ASSETS - 100.0%          $ 2,195,597,193  
       
       
* Non-income producing
c Investments made with cash collateral received from securities on loan.
e All or a portion of these securities are out on loan. The aggregate value of securities on loan is $50,447,087.
7

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

 

TIAA-CREF FUNDS

ENHANCED LARGE-CAP VALUE INDEX FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
                 
COMMON STOCKS - 99.3%        
                 
AUTOMOBILES & COMPONENTS - 0.5%        
 314,224      Ford Motor Co  $3,978,076 
 74,224      General Motors Co   2,341,025 
 22,424      Gentex Corp   396,232 
 44,224      Johnson Controls, Inc   2,030,766 
 21,424      Lear Corp   2,430,553 
        TOTAL AUTOMOBILES & COMPONENTS   11,176,652 
                 
BANKS - 9.4%        
 1,653,224      Bank of America Corp   23,955,216 
 39,000      Bank of Hawaii Corp   2,687,880 
 124,224      BB&T Corp   4,580,139 
 15,000   e  BOK Financial Corp   978,450 
 471,224      Citigroup, Inc   20,644,324 
 105,000      Comerica, Inc   4,750,200 
 54,000      Commerce Bancshares, Inc   2,553,660 
 41,890   e,n  Cullen/Frost Bankers, Inc   2,843,912 
 90,000      East West Bancorp, Inc   3,079,800 
 151,000      Fifth Third Bancorp   2,865,980 
 50,000      First Horizon National Corp   728,000 
 20,000      Huntington Bancshares, Inc   190,000 
 741,389      JPMorgan Chase & Co   47,426,654 
 10,424      M&T Bank Corp   1,194,173 
 75,400      PacWest Bancorp   3,117,790 
 65,724      PNC Financial Services Group, Inc   5,432,089 
 68,000      Popular, Inc   2,290,920 
 198,000      Regions Financial Corp   1,815,660 
 173,800   n  SunTrust Banks, Inc   7,350,002 
 23,800   *  SVB Financial Group   2,389,996 
 83,000      Synovus Financial Corp   2,526,520 
 197,224      US Bancorp   8,316,936 
 1,018,889      Wells Fargo & Co   48,876,105 
 118,000      Zions Bancorporation   3,289,840 
        TOTAL BANKS   203,884,246 
                 
CAPITAL GOODS - 7.7%        
 91,000   *  Aecom Technology Corp   3,229,590 
 5,000      AGCO Corp   240,800 
 29,900   n  Allegion plc   2,164,461 
 15,000      Allison Transmission Holdings, Inc   432,300 
 103,000   *  Babcock & Wilcox Enterprises, Inc   1,582,080 
 60,800      BWX Technologies, Inc   2,238,048 
 20,000      Carlisle Cos, Inc   2,065,800 
 87,750      Caterpillar, Inc   7,262,190 
 36,000      Crane Co   2,242,800 
8

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

 

SHARES      COMPANY  VALUE 
                 
 31,800      Cummins, Inc  $3,904,086 
 37,124      Danaher Corp   3,023,379 
 3,000      Donaldson Co, Inc   108,390 
 60,300      Dover Corp   4,307,229 
 5,949   *  Dycom Industries, Inc   559,503 
 123,999      Eaton Corp   7,862,777 
 68,024      Emerson Electric Co   3,802,542 
 10,000      Fluor Corp   535,200 
 18,562   *  Fortive Corp   894,874 
 30,800      Fortune Brands Home & Security, Inc   1,948,716 
 28,600      General Dynamics Corp   4,201,054 
 1,192,424   n  General Electric Co   37,132,084 
 18,300      Honeywell International, Inc   2,128,839 
 2,000      Hubbell, Inc   215,660 
 1,500      Huntington Ingalls   258,870 
 15,000      IDEX Corp   1,346,850 
 25,700      Ingersoll-Rand plc   1,702,882 
 45,000   *  Jacobs Engineering Group, Inc   2,408,400 
 14,224      L-3 Communications Holdings, Inc   2,156,785 
 800      Lennox International, Inc   125,440 
 11,500      Lockheed Martin Corp   2,906,395 
 105,000      Manitowoc Co, Inc   584,850 
 54,000   *  Manitowoc Foodservice, Inc   990,360 
 23,500      Masco Corp   857,280 
 5,700      MSC Industrial Direct Co (Class A)   409,431 
 23,150      Northrop Grumman Corp   5,014,984 
 38,000   *  NOW, Inc   695,780 
 50,000      Oshkosh Truck Corp   2,754,500 
 63,839   n  Owens Corning, Inc   3,377,721 
 77,724      Paccar, Inc   4,583,384 
 41,500      Parker Hannifin Corp   4,738,885 
 55,000      Pentair plc   3,510,100 
 108,000   *  Quanta Services, Inc   2,764,800 
 60,000      Raytheon Co   8,371,800 
 5,500      Rockwell Automation, Inc   629,200 
 16,390      Snap-On, Inc   2,576,016 
 24,224   *  Spirit Aerosystems Holdings, Inc (Class A)   1,050,837 
 33,100   *  SPX Corp   501,134 
 61,800      Stanley Works   7,521,060 
 23,800      Triumph Group, Inc   733,754 
 5,700   *  United Rentals, Inc   454,119 
 45,324      United Technologies Corp   4,879,129 
 73,800   *,n  USG Corp   2,078,208 
 16,999      Valmont Industries, Inc   2,226,019 
 25,090   *,e  WESCO International, Inc   1,398,517 
 26,300      Xylem, Inc   1,257,403 
        TOTAL CAPITAL GOODS   166,947,295 
                 
COMMERCIAL & PROFESSIONAL SERVICES - 0.8%        
 50,000   *  Clean Harbors, Inc   2,571,000 
 8,000      Dun & Bradstreet Corp   1,034,000 
 21,900      Equifax, Inc   2,900,874 
 50,000      Nielsen NV   2,693,000 
9

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

 

SHARES      COMPANY  VALUE 
                 
 142,424      R.R. Donnelley & Sons Co  $2,552,238 
 69,900      Republic Services, Inc   3,583,074 
 39,000   *  TransUnion   1,276,080 
 21,424      Waste Management, Inc   1,416,555 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   18,026,821 
                 
CONSUMER DURABLES & APPAREL - 1.4%        
 18,000      CalAtlantic Group, Inc   651,780 
 94,400      Coach, Inc   4,069,584 
 85,750      DR Horton, Inc   2,819,460 
 27,224   *,e  Garmin Ltd   1,479,080 
 157,000   *,e  GoPro, Inc   1,984,480 
 161,890      Hanesbrands, Inc   4,315,987 
 26,300      Hasbro, Inc   2,136,349 
 12,424      Lennar Corp (Class A)   581,443 
 63,750      Mattel, Inc   2,127,975 
 2,575   *  Mohawk Industries, Inc   538,021 
 80,800      Newell Brands, Inc   4,238,768 
 36,800      Phillips-Van Heusen Corp   3,719,008 
 83,000      Pulte Homes, Inc   1,757,940 
 16,000   n  Tupperware Brands Corp   1,002,880 
        TOTAL CONSUMER DURABLES & APPAREL   31,422,755 
                 
CONSUMER SERVICES - 0.7%        
 44,224      Carnival Corp   2,066,145 
 8,800      Darden Restaurants, Inc   541,728 
 40,400      H&R Block, Inc   961,116 
 45,000      Hilton Worldwide Holdings, Inc   1,043,550 
 46,189   *  Hyatt Hotels Corp   2,329,773 
 100,000      International Game Technology plc   2,090,000 
 88,000   *  MGM Resorts International   2,110,240 
 54,000   *,n  Norwegian Cruise Line Holdings Ltd   2,300,400 
 4,224   n  Royal Caribbean Cruises Ltd   305,986 
 193,000      Sands China Ltd   738,454 
        TOTAL CONSUMER SERVICES   14,487,392 
                 
DIVERSIFIED FINANCIALS - 5.4%        
 109,124      American Express Co   7,034,133 
 9,724      Ameriprise Financial, Inc   931,948 
 127,724      Bank of New York Mellon Corp   5,032,326 
 25,000      BlackRock, Inc   9,156,250 
 133,813      Capital One Financial Corp   8,976,176 
 35,724      CME Group, Inc   3,652,422 
 20,000   e  Consumer Discretionary Select Sector SPDR Fund   1,632,600 
 27,224      Discover Financial Services   1,547,412 
 14,500   *  E*TRADE Financial Corp   363,660 
 50,000   e  Financial Select Sector SPDR Fund   1,182,000 
 12,424      Franklin Resources, Inc   449,624 
 77,500      Goldman Sachs Group, Inc   12,307,775 
 360,000      Morgan Stanley   10,342,800 
 6,380      NASDAQ OMX Group, Inc   451,449 
 112,500      Navient Corp   1,597,500 
 72,800      Northern Trust Corp   4,920,552 
10

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

 

SHARES      COMPANY  VALUE 
                 
 183,900   e  PowerShares QQQ Trust Series  $21,190,797 
 4,224      Raymond James Financial, Inc   231,898 
 64,224   e  SPDR Dow Jones Industrial Average ETF Trust   11,825,565 
 55,000      SPDR Trust Series 1   11,943,250 
 112,424   *  Synchrony Financial   3,134,381 
        TOTAL DIVERSIFIED FINANCIALS   117,904,518 
                 
ENERGY - 13.1%        
 139,900      Anadarko Petroleum Corp   7,628,747 
 66,600      Apache Corp   3,496,500 
 154,000   n  Baker Hughes, Inc   7,365,820 
 28,000      Cabot Oil & Gas Corp   690,760 
 317,224      Chevron Corp   32,509,115 
 26,300      Cimarex Energy Co   3,156,526 
 69,000   *,n  Concho Resources, Inc   8,569,800 
 149,974      ConocoPhillips   6,121,939 
 128,900   *,e,n  Continental Resources, Inc   5,678,045 
 199,000   *,n  Devon Energy Corp   7,617,720 
 106,300   e  Diamond Offshore Drilling, Inc   2,415,136 
 23,800   *  Diamondback Energy, Inc   2,089,402 
 66,300   n  Energen Corp   3,141,294 
 136,900      EOG Resources, Inc   11,184,730 
 63,800   n  EQT Corp   4,648,468 
 667,724      Exxon Mobil Corp   59,394,050 
 7,500   *  FMC Technologies, Inc   190,350 
 25,000   *  Gulfport Energy Corp   727,250 
 195,400      Halliburton Co   8,531,164 
 19,724   e  Helmerich & Payne, Inc   1,222,296 
 158,500   n  Hess Corp   8,503,525 
 335,724      Kinder Morgan, Inc   6,825,269 
 100,000   *,e,n  Laredo Petroleum, Inc   1,002,000 
 114,224      Marathon Oil Corp   1,558,015 
 64,224      Marathon Petroleum Corp   2,529,783 
 168,000   n  Nabors Industries Ltd   1,512,000 
 22,424      National Oilwell Varco, Inc   725,417 
 80,000   *,n  Newfield Exploration Co   3,464,000 
 113,800      Noble Energy, Inc   4,064,936 
 124,224      Occidental Petroleum Corp   9,283,260 
 28,000   *  Parsley Energy, Inc   798,280 
 123,800      Patterson-UTI Energy, Inc   2,400,482 
 69,600      Phillips 66   5,293,776 
 12,424      Pioneer Natural Resources Co   2,019,770 
 103,000      Questar Market Resources, Inc   1,874,600 
 86,300   n  Range Resources Corp   3,478,753 
 118,000   *,n  Rice Energy, Inc   2,751,760 
 68,000      Rowan Cos plc   1,036,320 
 91,000   *,e  RPC, Inc   1,318,590 
 212,224      Schlumberger Ltd   17,088,276 
 13,800   e  SM Energy Co   374,394 
 113,000   *,e  Southwestern Energy Co   1,647,540 
 154,000      Spectra Energy Corp   5,539,380 
 154,000   n  Superior Energy Services, Inc   2,459,380 
 16,000      Targa Resources Investments, Inc   596,160 
11

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

 

SHARES      COMPANY  VALUE 
                 
 82,100      Tesoro Corp  $6,251,915 
 154,000      Valero Energy Corp   8,051,120 
 72,224      Williams Cos, Inc   1,731,209 
 18,000      World Fuel Services Corp   856,800 
 168,000   *,n  WPX Energy, Inc   1,678,320 
        TOTAL ENERGY   283,094,142 
                 
FOOD & STAPLES RETAILING - 1.3%        
 57,575      CVS Health Corp   5,338,354 
 61,242      Walgreens Boots Alliance, Inc   4,853,429 
 191,224      Wal-Mart Stores, Inc   13,953,615 
 119,900      Whole Foods Market, Inc   3,654,552 
        TOTAL FOOD & STAPLES RETAILING   27,799,950 
                 
FOOD, BEVERAGE & TOBACCO - 5.1%        
 75,750      Altria Group, Inc   5,128,275 
 91,424      Archer Daniels Midland Co   4,121,394 
 72,224      Coca-Cola Co   3,151,133 
 46,800      ConAgra Foods, Inc   2,188,368 
 18,890      Constellation Brands, Inc (Class A)   3,109,861 
 18,000   *  Hain Celestial Group, Inc   950,220 
 36,000      Ingredion, Inc   4,796,640 
 18,574      J.M. Smucker Co   2,863,368 
 29,750      Kellogg Co   2,460,622 
 103,800      Kraft Heinz Co   8,967,282 
 29,000      Mead Johnson Nutrition Co   2,586,800 
 24,224      Molson Coors Brewing Co (Class B)   2,474,724 
 338,000      Mondelez International, Inc   14,865,240 
 16,300   *  Monster Beverage Corp   2,618,269 
 37,500      PepsiCo, Inc   4,084,500 
 276,800      Philip Morris International, Inc   27,751,968 
 138,900   e  Pilgrim's Pride Corp   3,229,425 
 8,000   *  Post Holdings, Inc   693,360 
 125,400      Reynolds American, Inc   6,277,524 
 15,000   *  TreeHouse Foods, Inc   1,547,850 
 75,000      Tyson Foods, Inc (Class A)   5,520,000 
        TOTAL FOOD, BEVERAGE & TOBACCO   109,386,823 
                 
HEALTH CARE EQUIPMENT & SERVICES - 4.7%        
 338,900      Abbott Laboratories   15,165,775 
 27,724      Aetna Inc   3,194,082 
 30,500      Anthem, Inc   4,005,870 
 89,000      Baxter International, Inc   4,273,780 
 32,500      Cardinal Health, Inc   2,717,000 
 40,200   *  Centene Corp   2,836,110 
 57,750   n  Cigna Corp   7,447,440 
 6,300      Cooper Cos, Inc   1,149,561 
 27,224   *  DaVita, Inc   2,110,949 
 35,750      DENTSPLY SIRONA, Inc   2,289,430 
 60,250   *  HCA Holdings, Inc   4,647,082 
 25,750      Humana, Inc   4,443,163 
 7,724   *  Laboratory Corp of America Holdings   1,077,961 
 45,000   *  LifePoint Hospitals, Inc   2,663,100 
12

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

 

SHARES       COMPANY  VALUE 
               
 296,800       Medtronic plc  $26,008,584 
 28,300       Quest Diagnostics, Inc   2,443,988 
 16,800       Teleflex, Inc   3,029,208 
 36,900    n  Universal Health Services, Inc (Class B)   4,779,657 
 31,424    *  VCA Antech, Inc   2,241,788 
 24,500    *  WellCare Health Plans, Inc   2,616,600 
 17,500       Zimmer Holdings, Inc   2,294,950 
         TOTAL HEALTH CARE EQUIPMENT & SERVICES   101,436,078 
               
HOUSEHOLD & PERSONAL PRODUCTS - 2.5%      
 19,750       Clorox Co   2,588,632 
 116,800       Colgate-Palmolive Co   8,693,424 
 9,724       Edgewell Personal Care Co   822,748 
 9,000       Energizer Holdings, Inc   463,770 
 25,600    n  Kimberly-Clark Corp   3,316,480 
 21,000       Nu Skin Enterprises, Inc (Class A)   1,121,400 
 424,424       Procter & Gamble Co   36,326,450 
         TOTAL HOUSEHOLD & PERSONAL PRODUCTS   53,332,904 
               
INSURANCE - 4.6%      
 7,724       Aflac, Inc   558,291 
 44,424       Allstate Corp   3,035,492 
 13,500       American Financial Group, Inc   986,850 
 142,424       American International Group, Inc   7,753,563 
 7,424       Arthur J. Gallagher & Co   365,187 
 12,424       Assurant, Inc   1,031,316 
 257,224    *  Berkshire Hathaway, Inc (Class B)   37,109,707 
 22,000       Brown & Brown, Inc   806,520 
 52,324       Chubb Ltd   6,554,104 
 50,000       Cincinnati Financial Corp   3,735,000 
 10,724       Endurance Specialty Holdings Ltd   725,264 
 19,390       Everest Re Group Ltd   3,664,904 
 12,424       First American Financial Corp   519,447 
 12,424       FNF Group   468,012 
 9,800       Hanover Insurance Group, Inc   806,932 
 81,500       Hartford Financial Services Group, Inc   3,247,775 
 111,000    n  Lincoln National Corp   4,847,370 
 4,224       Loews Corp   174,578 
 750    *  Markel Corp   711,562 
 37,724       Metlife, Inc   1,612,324 
 151,500       Old Republic International Corp   2,936,070 
 6,724       Principal Financial Group   313,540 
 4,224       ProAssurance Corp   218,212 
 62,224       Progressive Corp   2,022,902 
 113,800       Prudential Financial, Inc   8,568,002 
 28,000       Reinsurance Group of America, Inc (Class A)   2,779,000 
 5,724       Torchmark Corp   354,144 
 7,224       Travelers Cos, Inc   839,573 
 21,724       UnumProvident Corp   725,799 
 26,100       Validus Holdings Ltd   1,290,123 
         TOTAL INSURANCE   98,761,563 
13

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

 

SHARES      COMPANY  VALUE 
                 
MATERIALS - 4.3%      
 48,390      Albemarle Corp  $4,072,986 
 37,224      Alcoa, Inc   395,319 
 12,500      Ashland, Inc   1,415,500 
 30,000      Avery Dennison Corp   2,336,700 
 66,600   n  Celanese Corp (Series A)   4,223,772 
 80,000      CF Industries Holdings, Inc   1,974,400 
 225,400   *,e  Cliffs Natural Resources, Inc   1,782,914 
 3,000   e  Compass Minerals International, Inc   208,770 
 39,900   *  Crown Holdings, Inc   2,113,503 
 45,000      Domtar Corp   1,771,650 
 303,000      Dow Chemical Co   16,262,010 
 63,000      Eastman Chemical Co   4,109,490 
 39,000      FMC Corp   1,854,060 
 24,224      Freeport-McMoRan Copper & Gold, Inc (Class B)   313,943 
 82,724      Graphic Packaging Holding Co   1,128,355 
 180,000   n  Huntsman Corp   2,782,800 
 115,000      International Paper Co   5,268,150 
 71,750   n  LyondellBasell Industries AF S.C.A   5,399,905 
 1,300      Martin Marietta Materials, Inc   263,445 
 30,224      Monsanto Co   3,227,017 
 31,424      Mosaic Co   848,448 
 183,000      Newmont Mining Corp   8,052,000 
 98,000      Nucor Corp   5,256,720 
 42,424   *,n  Owens-Illinois, Inc   797,147 
 41,890   n  Reliance Steel & Aluminum Co   3,285,852 
 18,800      Royal Gold, Inc   1,589,352 
 26,800      Sonoco Products Co   1,364,924 
 11,800   e  Southern Copper Corp (NY)   306,682 
 157,750      Steel Dynamics, Inc   4,230,855 
 199,000   n  Tahoe Resources, Inc   3,096,440 
 19,190      Vulcan Materials Co   2,379,176 
        TOTAL MATERIALS   92,112,285 
                 
MEDIA - 0.8%        
 98,800      Comcast Corp (Class A)   6,644,300 
 46,800   *  DISH Network Corp (Class A)   2,500,056 
 12,424   *  Liberty SiriusXM Group (Class A)   444,158 
 14,224   *  Liberty SiriusXM Group (Class C)   501,396 
 6,800   *  Madison Square Garden Co   1,242,972 
 85,000   e  Regal Entertainment Group (Class A)   1,999,200 
 8,100      Viacom, Inc (Class B)   368,307 
 31,800      Walt Disney Co   3,051,210 
        TOTAL MEDIA   16,751,599 
                 
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.5%        
 26,994      Agilent Technologies, Inc   1,298,681 
 50,000   *  Allergan plc   12,647,500 
 19,300      Amgen, Inc   3,320,179 
 46,800   *  Celgene Corp   5,250,492 
 4   *  Endo International plc   70 
 55,500   n  Gilead Sciences, Inc   4,410,585 
 379,224      Johnson & Johnson   47,490,221 
 484,224      Merck & Co, Inc   28,404,580 
14

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

 

SHARES       COMPANY  VALUE 
               
 17,750    *  Mylan NV  $830,523 
 11,424       PerkinElmer, Inc   650,254 
 63,000       Perrigo Co plc   5,757,570 
 1,101,000       Pfizer, Inc   40,615,890 
 17,000    *  Quintiles Transnational Holdings, Inc   1,319,880 
 54,000       Thermo Electron Corp   8,577,360 
 6,424    *  United Therapeutics Corp   777,368 
 30,000    *  VWR Corp   939,600 
         TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   162,290,753 
               
REAL ESTATE - 4.8%      
 29,000       Alexandria Real Estate Equities, Inc   3,256,700 
 41,500       American Campus Communities, Inc   2,243,905 
 10,000       American Capital Agency Corp   195,900 
 33,000       American Homes 4 Rent   716,100 
 77,224       Annaly Capital Management, Inc   847,919 
 32,500       Apartment Investment & Management Co (Class A)   1,494,025 
 15,200       Boston Properties, Inc   2,160,376 
 100,000       Brandywine Realty Trust   1,687,000 
 40,890       Camden Property Trust   3,663,335 
 36,800       Chimera Investment Corp   617,504 
 36,000       Communications Sales & Leasing, Inc   1,118,880 
 33,000       Corporate Office Properties Trust   988,680 
 45,000       Corrections Corp of America   1,442,250 
 26,600       Crown Castle International Corp   2,580,998 
 5,000       CyrusOne, Inc   274,100 
 23,000       DCT Industrial Trust, Inc   1,155,060 
 12,424       DDR Corp   245,250 
 28,890    n  Digital Realty Trust, Inc   3,017,849 
 63,000       Douglas Emmett, Inc   2,396,520 
 145,000       Duke Realty Corp   4,174,550 
 21,000       Entertainment Properties Trust   1,764,420 
 11,424    *  Equity Commonwealth   342,948 
 38,389       Equity Lifestyle Properties, Inc   3,157,111 
 39,000       Equity One, Inc   1,297,530 
 17,224       Equity Residential   1,171,060 
 36,800    n Extra Space Storage, Inc   3,165,536 
 17,224       Forest City Realty Trust, Inc   407,348 
 84,200       Four Corners Property Trust, Inc   1,827,982 
 33,000       Gaming and Leisure Properties, Inc   1,182,390 
 14,224       General Growth Properties, Inc   454,457 
 63,000       Healthcare Trust of America, Inc   2,145,150 
 28,000       Highwoods Properties, Inc   1,560,160 
 14,224       Hospitality Properties Trust   453,888 
 61,424       Host Marriott Corp   1,089,662 
 7,224       Kilroy Realty Corp   528,869 
 41,424       Kimco Realty Corp   1,329,710 
 20,000       Liberty Property Trust   827,600 
 18,000       Mack-Cali Realty Corp   507,600 
 34,890    n  Mid-America Apartment Communities, Inc   3,699,038 
 66,300       National Retail Properties, Inc   3,524,508 
 41,424       Piedmont Office Realty Trust, Inc   908,843 
 87,724       Prologis, Inc   4,780,081 
15

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

 

SHARES      COMPANY  VALUE 
                 
 13,139      Public Storage, Inc  $3,139,170 
 25,000      Rayonier, Inc   680,500 
 44,224      Realty Income Corp   3,160,689 
 16,890      Regency Centers Corp   1,434,468 
 128,800      Senior Housing Properties Trust   2,860,648 
 254,000      Spirit Realty Capital, Inc   3,472,180 
 12,224      STORE Capital Corp   381,267 
 7,224      Sun Communities, Inc   571,780 
 4,224      UDR, Inc   157,259 
 61,800      Ventas, Inc   4,706,688 
 182,000      VEREIT, Inc   2,012,920 
 23,300      Weingarten Realty Investors   1,006,327 
 71,224      Welltower, Inc   5,650,200 
 44,224      Weyerhaeuser Co   1,447,009 
 21,000      WP Carey, Inc   1,525,650 
 118,000      WP GLIMCHER, Inc   1,496,240 
        TOTAL REAL ESTATE   104,105,787 
                 
RETAILING - 2.0%        
 123,890   e  American Eagle Outfitters, Inc   2,220,109 
 27,224   *  Bed Bath & Beyond, Inc   1,223,719 
 121,000      Best Buy Co, Inc   4,065,600 
 6,000   *  Burlington Stores, Inc   459,060 
 25,400      Children's Place Retail Stores, Inc   2,122,932 
 15,000      CST Brands, Inc   670,800 
 38,000   e,n  Dillard's, Inc (Class A)   2,571,840 
 23,000      Expedia, Inc   2,682,950 
 108,000   e  GameStop Corp (Class A)   3,342,600 
 22,424      Gap, Inc   578,315 
 3,900      Genuine Parts Co   398,736 
 288,830   *,e  JC Penney Co, Inc   2,790,098 
 22,424      Kohl's Corp   932,614 
 17,224      L Brands, Inc   1,272,853 
 90,200      Macy's, Inc   3,231,866 
 4,500   *  Michaels Cos, Inc   118,620 
 3,600   *  Murphy USA, Inc   275,904 
 130,000      Staples, Inc   1,207,700 
 161,890      Target Corp   12,195,174 
        TOTAL RETAILING   42,361,490 
                 
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.3%        
 42,500      Analog Devices, Inc   2,712,775 
 128,000      Applied Materials, Inc   3,365,120 
 38,900   n  Broadcom Ltd   6,301,022 
 250,000   e,n  Cypress Semiconductor Corp   2,910,000 
 653,224      Intel Corp   22,771,389 
 113,800   *,e  JinkoSolar Holding Co Ltd (ADR)   2,080,264 
 8,000      Kla-Tencor Corp   605,680 
 18,000      Lam Research Corp   1,615,860 
 25,750      Linear Technology Corp   1,544,742 
 428,890   *  Micron Technology, Inc   5,892,949 
 60,000      Nvidia Corp   3,426,000 
 285,000   *  ON Semiconductor Corp   2,858,550 
16

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

 

SHARES      COMPANY  VALUE 
                 
 27,224   *  Qorvo, Inc  $1,721,373 
 182,424      Qualcomm, Inc   11,416,094 
 34,900      Xilinx, Inc   1,782,692 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   71,004,510 
                 
SOFTWARE & SERVICES - 2.4%        
 68,000   *  Akamai Technologies, Inc   3,436,040 
 7,000      Booz Allen Hamilton Holding Co   216,160 
 81,300      CA, Inc   2,817,045 
 37,224      Computer Sciences Corp   1,780,424 
 1,900      Fair Isaac Corp   240,616 
 17,224      Fidelity National Information Services, Inc   1,369,825 
 11,424   *  First American Corp   460,159 
 11,000      IAC/InterActiveCorp   637,560 
 11,424      International Business Machines Corp   1,834,923 
 118,900   *,e  Mobileye NV   5,696,499 
 457,224      Oracle Corp   18,764,473 
 42,424      Symantec Corp   866,722 
 55,000   *,e  VMware, Inc (Class A)   4,013,900 
 61,800   *  Workday, Inc   5,150,412 
 142,424   *  Yahoo!, Inc   5,439,172 
        TOTAL SOFTWARE & SERVICES   52,723,930 
                 
TECHNOLOGY HARDWARE & EQUIPMENT - 4.1%        
 49,124      Apple, Inc   5,119,212 
 66,300   *  Arrow Electronics, Inc   4,408,287 
 5,000      Avnet, Inc   205,500 
 50,000   *  Ciena Corp   959,500 
 764,224      Cisco Systems, Inc   23,331,759 
 32,996   *  CommScope Holding Co, Inc   988,230 
 215,000      Corning, Inc   4,777,300 
 54,000      Dolby Laboratories, Inc (Class A)   2,716,740 
 235,724      EMC Corp   6,666,275 
 66,000   *  Fitbit, Inc   901,560 
 500,000      Hewlett Packard Enterprise Co   10,510,000 
 500,000      HP, Inc   7,005,000 
 139,000      Ingram Micro, Inc (Class A)   4,759,360 
 139,900      Jabil Circuit, Inc   2,846,965 
 7,500      Juniper Networks, Inc   170,175 
 10,000   *  Keysight Technologies, Inc   292,400 
 63,800      Lexmark International, Inc (Class A)   2,339,546 
 80,900   *  Lumentum Holdings, Inc   2,447,225 
 12,424      Motorola, Inc   861,977 
 180,000      Vishay Intertechnology, Inc   2,399,400 
 123,891      Western Digital Corp   5,886,061 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   89,592,472 
                 
TELECOMMUNICATION SERVICES - 4.0%        
 1,037,224      AT&T, Inc   44,901,427 
 180,000      CenturyTel, Inc   5,659,200 
 119,991   *,n  Level 3 Communications, Inc   6,071,545 
 30,000      Telephone & Data Systems, Inc   944,700 
 44,224   *  T-Mobile US, Inc   2,049,340 
17

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

 

SHARES      COMPANY  VALUE 
                 
 475,750      Verizon Communications, Inc  $26,361,307 
        TOTAL TELECOMMUNICATION SERVICES   85,987,519 
                 
TRANSPORTATION - 2.1%        
 36,000      Alaska Air Group, Inc   2,419,920 
 105,000      American Airlines Group, Inc   3,727,500 
 191,000      CSX Corp   5,411,030 
 75,000      Delta Air Lines, Inc   2,906,250 
 57,750   *  Hawaiian Holdings, Inc   2,629,357 
 41,890      Kansas City Southern Industries, Inc   4,026,048 
 11,000   *  Kirby Corp   599,390 
 4,424      Macquarie Infrastructure Co LLC   339,100 
 35,724      Norfolk Southern Corp   3,207,301 
 11,000      Ryder System, Inc   724,900 
 188,000      Union Pacific Corp   17,493,400 
 47,724   *  United Continental Holdings, Inc   2,237,778 
        TOTAL TRANSPORTATION   45,721,974 
                 
UTILITIES - 6.8%        
 135,000      AES Corp   1,667,250 
 88,000      Alliant Energy Corp   3,542,000 
 45,000      Ameren Corp   2,359,800 
 95,750      American Electric Power Co, Inc   6,635,475 
 73,800      American Water Works Co, Inc   6,094,404 
 23,800      Aqua America, Inc   824,432 
 60,000      Atmos Energy Corp   4,787,400 
 29,000      Avangrid, Inc   1,309,060 
 53,224      Centerpoint Energy, Inc   1,273,118 
 88,000      CMS Energy Corp   3,975,840 
 88,000      Consolidated Edison, Inc   7,047,040 
 21,424      Dominion Resources, Inc   1,671,501 
 57,500      DTE Energy Co   5,607,400 
 53,224      Duke Energy Corp   4,555,442 
 83,800      Edison International   6,484,444 
 30,000      Eversource Energy   1,754,700 
 155,724      Exelon Corp   5,805,391 
 136,136      FirstEnergy Corp   4,753,869 
 10,000      Great Plains Energy, Inc   297,800 
 7,224   *  Hawaiian Electric Industries, Inc   224,305 
 5,000   e  Health Care Select Sector SPDR Fund   376,250 
 7,724      ITC Holdings Corp   357,235 
 93,000      MDU Resources Group, Inc   2,236,650 
 25,400      National Fuel Gas Co   1,435,354 
 108,300      NextEra Energy, Inc   13,893,807 
 146,800      NiSource, Inc   3,766,888 
 20,000      NRG Energy, Inc   276,800 
 24,224      OGE Energy Corp   779,286 
 99,124      PG&E Corp   6,337,989 
 46,800      Pinnacle West Capital Corp   3,691,116 
 150,000      PPL Corp   5,656,500 
 57,224      Public Service Enterprise Group, Inc   2,632,876 
 68,000      SCANA Corp   5,095,920 
 47,224      Sempra Energy   5,283,421 
18

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

 

SHARES       COMPANY           VALUE  
                         
91,424       Southern Co           $ 4,891,184  
69,900       UGI Corp             3,163,674  
32,800       Vectren Corp             1,696,744  
96,300       WEC Energy Group, Inc             6,250,833  
28,800       Westar Energy, Inc             1,600,416  
173,800       Xcel Energy, Inc             7,643,724  
        TOTAL UTILITIES             147,737,338  
                         
        TOTAL COMMON STOCKS             2,148,050,796  
        (Cost $1,789,783,720)              
                         
PRINCIPAL       ISSUER   RATE   MATURITY
DATE		        
SHORT-TERM INVESTMENTS - 2.7%                  
GOVERNMENT AGENCY DEBT - 0.3%                  
$ 6,950,000       Federal Home Loan Bank (FHLB)     0.150 %   08/01/16     6,950,000  
          TOTAL GOVERNMENT AGENCY DEBT                 6,950,000  
                               
SHARES       COMPANY                  
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.4%                  
  51,803,514 c   TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		           51,803,514  
          TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES           51,803,514  
                               
          TOTAL SHORT-TERM INVESTMENTS                  58,753,514  
          (Cost $58,753,514)                    
          TOTAL INVESTMENTS - 102.0%                  2,206,804,310  
          (Cost $1,848,537,234)                    
          OTHER ASSETS & LIABILITIES, NET - (2.0)%                  (42,784,405 )
          NET ASSETS - 100.0%               $ 2,164,019,905  
       
       
    Abbreviation(s):
    ADR   American Depositary Receipt
    ETF   Exchange Traded Fund
    REIT   Real Estate Investment Trust
    SPDR   Standard & Poor's Depository Receipts
     
* Non-income producing
c Investments made with cash collateral received from securities on loan.
e All or a portion of these securities are out on loan. The aggregate value of securities on loan is $50,661,403.
n All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
19

TIAA-CREF FUNDS - Growth & Income Fund

 

TIAA-CREF FUNDS

GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
                 
COMMON STOCKS - 99.6%        
                 
BANKS - 6.2%        
 4,266,767      Bank of America Corp  $61,825,454 
 557,109      Citigroup, Inc   24,406,945 
 630,899      Citizens Financial Group, Inc   14,087,975 
 266,376      Comerica, Inc   12,050,850 
 1,625,066      ING Groep NV   18,168,246 
 1,052,534      JPMorgan Chase & Co   67,330,600 
 584,055      SunTrust Banks, Inc   24,699,686 
 239,598      US Bancorp   10,103,848 
 1,118,225      Wells Fargo & Co   53,641,253 
 873,617      Zions Bancorporation   24,356,442 
        TOTAL BANKS   310,671,299 
                 
CAPITAL GOODS - 6.9%        
 227,938      3M Co   40,655,022 
 53,678   n  Acuity Brands, Inc   14,086,718 
 361,843      Caesarstone Sdot-Yam Ltd   13,565,494 
 1,982,877   n  General Electric Co   61,746,790 
 533,105      Honeywell International, Inc   62,016,105 
 336,454      Illinois Tool Works, Inc   38,826,791 
 183,613      Northrop Grumman Corp   39,776,084 
 178,645   n  Paccar, Inc   10,534,696 
 256,634      Raytheon Co   35,808,142 
 61,212      Snap-On, Inc   9,620,690 
 163,724   *,n  WABCO Holdings, Inc   16,416,605 
        TOTAL CAPITAL GOODS   343,053,137 
                 
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%        
 224,586      Equifax, Inc   29,748,662 
 213,828      Waste Management, Inc   14,138,307 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   43,886,969 
                 
CONSUMER DURABLES & APPAREL - 3.0%        
 509,444      DR Horton, Inc   16,750,519 
 115,540      Hasbro, Inc   9,385,314 
 860,576   *  Kate Spade & Co   18,665,893 
 749,296      Mattel, Inc   25,011,500 
 121,681   *  Mohawk Industries, Inc   25,424,028 
 563,486   n  Newell Brands, Inc   29,560,476 
 378,001      Sony Corp   12,408,595 
 576,460   *,g  Spin Master Corp   11,832,519 
        TOTAL CONSUMER DURABLES & APPAREL   149,038,844 
20

TIAA-CREF FUNDS - Growth & Income Fund

 

SHARES      COMPANY  VALUE 
            
CONSUMER SERVICES - 1.4%        
 29,959   *  Chipotle Mexican Grill, Inc (Class A)  $12,702,316 
 1,081,315   *  MGM Resorts International   25,929,934 
 594,534   *  Norwegian Cruise Line Holdings Ltd   25,327,148 
 303,794   *  Red Rock Resorts, Inc   6,990,300 
        TOTAL CONSUMER SERVICES   70,949,698 
                 
DIVERSIFIED FINANCIALS - 1.0%        
 476,201      Lazard Ltd (Class A)   17,019,424 
 960,610      Morgan Stanley   27,598,325 
 160,317      Oaktree Capital Group LLC   7,441,915 
        TOTAL DIVERSIFIED FINANCIALS   52,059,664 
                 
ENERGY - 7.1%        
 428,962      Anadarko Petroleum Corp   23,391,298 
 262,220      Chevron Corp   26,872,306 
 338,758   *  Concho Resources, Inc   42,073,744 
 938,077   *,e  Continental Resources, Inc   41,322,292 
 241,913   *  Diamondback Energy, Inc   21,237,542 
 605,950      EOG Resources, Inc   49,506,115 
 622,916   *  Newfield Exploration Co   26,972,263 
 616,950      Occidental Petroleum Corp   46,104,673 
 499,985   *  Parsley Energy, Inc   14,254,572 
 715,943   *  Rice Energy, Inc   16,695,791 
 777,146   *,e,n  RPC, Inc   11,260,846 
 397,573   *  RSP Permian, Inc   14,292,749 
 293,643   n  Schlumberger Ltd   23,644,134 
        TOTAL ENERGY   357,628,325 
                 
FOOD & STAPLES RETAILING - 0.4%        
 264,340      Kroger Co   9,037,785 
 475,697   *  US Foods Holding Corp   11,492,839 
        TOTAL FOOD & STAPLES RETAILING   20,530,624 
                 
FOOD, BEVERAGE & TOBACCO - 8.1%        
 800,148      Coca-Cola Co   34,910,457 
 664,775      ConAgra Foods, Inc   31,084,879 
 165,915      Constellation Brands, Inc (Class A)   27,314,587 
 987,046      Cott Corp   14,736,597 
 138,424      Fresh Del Monte Produce, Inc   7,869,404 
 157,740      General Mills, Inc   11,339,929 
 206,135      Groupe Danone   15,809,252 
 134,407   n  Mead Johnson Nutrition Co   11,989,104 
 269,055      Molson Coors Brewing Co (Class B)   27,486,659 
 710,018      Mondelez International, Inc   31,226,592 
 218,499   *  Monster Beverage Corp   35,097,494 
 513,096      PepsiCo, Inc   55,886,416 
 671,871      Philip Morris International, Inc   67,361,787 
 171,059      Pinnacle Foods, Inc   8,588,872 
 375,757      Reynolds American, Inc   18,810,395 
 70,312   *  TreeHouse Foods, Inc   7,255,495 
        TOTAL FOOD, BEVERAGE & TOBACCO   406,767,919 
21

TIAA-CREF FUNDS - Growth & Income Fund

 

SHARES      COMPANY  VALUE 
                 
HEALTH CARE EQUIPMENT & SERVICES - 5.5%        
 523,615      Baxter International, Inc  $25,143,992 
 1,270,015   *  Boston Scientific Corp   30,835,964 
 108,131   *  Centene Corp   7,628,642 
 319,348   *,n  Edwards Lifesciences Corp   36,571,733 
 354,597   *  HCA Holdings, Inc   27,350,067 
 37,866   *  Intuitive Surgical, Inc   26,345,648 
 663,359      Medtronic plc   58,130,149 
 179,837      STERIS plc   12,759,435 
 243,313   n  Universal Health Services, Inc (Class B)   31,516,333 
 179,371   *  VCA Antech, Inc   12,796,327 
 62,512   *  WellCare Health Plans, Inc   6,676,282 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   275,754,572 
                 
HOUSEHOLD & PERSONAL PRODUCTS - 1.5%        
 155,774      Beiersdorf AG.   14,634,948 
 206,764   *  Central Garden & Pet Co   5,016,095 
 74,264      Church & Dwight Co, Inc   7,295,695 
 563,709      Procter & Gamble Co   48,247,853 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   75,194,591 
                 
INSURANCE - 3.0%        
 783,204      American International Group, Inc   42,637,626 
 303,330   *  Berkshire Hathaway, Inc (Class B)   43,761,419 
 408,180      Chubb Ltd   51,128,627 
 136,067      Metlife, Inc   5,815,503 
 155,135      Principal Financial Group   7,233,945 
        TOTAL INSURANCE   150,577,120 
                 
MATERIALS - 2.8%        
 516,561      Barrick Gold Corp   11,292,023 
 671,880   *,e  Cliffs Natural Resources, Inc   5,314,571 
 942,379      Dow Chemical Co   50,577,481 
 118,480   n  Eagle Materials, Inc   9,946,396 
 82,131      Ecolab, Inc   9,722,668 
 121,749      Monsanto Co   12,999,141 
 361,249      Olin Corp   7,550,104 
 29,415      Syngenta AG.   11,568,484 
 346,083   e,n  United States Steel Corp   9,513,822 
 167,817      WR Grace & Co   12,564,459 
        TOTAL MATERIALS   141,049,149 
                 
MEDIA - 3.4%        
 162,323   *  AMC Networks, Inc   8,986,201 
 927,938      Comcast Corp (Class A)   62,403,831 
 333,460   *  Imax Corp   10,534,002 
 150,003      Scripps Networks Interactive (Class A)   9,909,198 
 1,172,999      Sky plc   14,285,232 
 324,431      Time Warner, Inc   24,867,636 
 425,591      Walt Disney Co   40,835,456 
        TOTAL MEDIA   171,821,556 
22

TIAA-CREF FUNDS - Growth & Income Fund

 

SHARES      COMPANY  VALUE 
                 
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 10.9%        
 840,901      AbbVie, Inc  $55,692,873 
 189,860   *,n  Allergan plc   48,025,087 
 336,242      Amgen, Inc   57,843,711 
 507,830   e  AstraZeneca plc (ADR)   17,337,316 
 207,830   *,n  BioMarin Pharmaceutical, Inc   20,662,459 
 825,883   n  Bristol-Myers Squibb Co   61,784,307 
 564,006      Eli Lilly & Co   46,750,458 
 638,855   *  H Lundbeck AS   25,969,188 
 122,328   *,n  Incyte Corp   11,035,209 
 317,427      Ipsen   20,710,809 
 133,402   *,n  Jazz Pharmaceuticals plc   20,139,700 
 301,861      Johnson & Johnson   37,802,053 
 93,763   *,e  Ligand Pharmaceuticals, Inc (Class B)   12,646,753 
 2,510,989      Pfizer, Inc   92,630,384 
 230,561      Shire Ltd   14,894,799 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   543,925,106 
                 
REAL ESTATE - 0.3%        
 248,217      Communications Sales & Leasing, Inc   7,714,585 
 70,638   n  Crown Castle International Corp   6,854,005 
        TOTAL REAL ESTATE   14,568,590 
                 
RETAILING - 6.9%        
 134,398   *  Amazon.com, Inc   101,982,546 
 34,724   *  AutoZone, Inc   28,264,294 
 320,915   *,n  Dollar Tree, Inc   30,900,906 
 618,884      Home Depot, Inc   85,554,524 
 393,263      Industria De Diseno Textil S.A.   13,600,505 
 2,158,133   *  JC Penney Co, Inc   20,847,565 
 199,272   *  NetFlix, Inc   18,183,570 
 87,778   *,n  O’Reilly Automotive, Inc   25,510,920 
 63,657      TJX Companies, Inc   5,202,050 
 67,239   *,n  Ulta Salon Cosmetics & Fragrance, Inc   17,563,499 
        TOTAL RETAILING   347,610,379 
                 
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.0%        
 1,107,660      Applied Materials, Inc   29,120,381 
 229,864      Broadcom Ltd   37,233,371 
 1,677,963      Intel Corp   58,493,790 
 334,634   e  Microchip Technology, Inc   18,619,036 
 568,578   *  Microsemi Corp   22,174,542 
 360,504      Nvidia Corp   20,584,778 
 154,974   *  NXP Semiconductors NV   13,031,764 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   199,257,662 
                 
SOFTWARE & SERVICES - 14.4%        
 283,814   *  Adobe Systems, Inc   27,774,038 
 175,504   *  Alphabet, Inc (Class C)   134,925,720 
 299,611   *  CyberArk Software Ltd   16,895,064 
 646,024   *  eBay, Inc   20,130,108 
 403,525   *,n  Electronic Arts, Inc   30,797,028 
 756,955   *  Facebook, Inc   93,817,003 
23

TIAA-CREF FUNDS - Growth & Income Fund

 

SHARES      COMPANY  VALUE 
                 
 230,034   n  IAC/InterActiveCorp  $13,332,771 
 193,648   *,n  Manhattan Associates, Inc   11,241,266 
 2,090,893      Microsoft Corp   118,511,815 
 77,385   *,n  MicroStrategy, Inc (Class A)   13,533,863 
 1,096,124      Oracle Corp   44,984,929 
 412,436   *,e  Pandora Media, Inc   5,609,130 
 75,827   *,e,n  Proofpoint, Inc   5,752,994 
 574,775   *  Salesforce.com, Inc   47,016,595 
 78,290   *  ServiceNow, Inc   5,865,487 
 1,284,965      Symantec Corp   26,251,835 
 461,073   *  Take-Two Interactive Software, Inc   18,525,913 
 715,099      Tencent Holdings Ltd   17,271,875 
 848,328      Visa, Inc (Class A)   66,212,001 
        TOTAL SOFTWARE & SERVICES   718,449,435 
                 
TECHNOLOGY HARDWARE & EQUIPMENT - 5.4%        
 1,515,013      Apple, Inc   157,879,505 
 1,504,972      Cisco Systems, Inc   45,946,795 
 390,415   *  Cray, Inc   12,321,498 
 173,893   *  Electronics for Imaging, Inc   7,701,721 
 526,529      EMC Corp   14,890,240 
 1,147,681   *  Flextronics International Ltd   14,541,118 
 832,248      Hewlett Packard Enterprise Co   17,493,853 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   270,774,730 
                 
TELECOMMUNICATION SERVICES - 2.4%        
 455,989   *,n  Level 3 Communications, Inc   23,073,043 
 651,032   *  T-Mobile US, Inc   30,168,823 
 1,198,105      Verizon Communications, Inc   66,386,998 
        TOTAL TELECOMMUNICATION SERVICES   119,628,864 
                 
TRANSPORTATION - 1.4%        
 227,004      Kansas City Southern Industries, Inc   21,817,355 
 442,232      United Parcel Service, Inc (Class B)   47,805,279 
        TOTAL TRANSPORTATION   69,622,634 
                 
UTILITIES - 2.7%        
 300,499   n  American Water Works Co, Inc   24,815,207 
 252,091   *,g  DONG Energy A.S.   10,267,701 
 222,224      NextEra Energy Partners LP   6,940,056 
 339,870      NextEra Energy, Inc   43,601,923 
 595,449      NiSource, Inc   15,279,221 
 162,415      PG&E Corp   10,384,815 
 197,650   n  Sempra Energy   22,113,082 
        TOTAL UTILITIES   133,402,005 
              
        TOTAL COMMON STOCKS   4,986,222,872 
        (Cost $3,873,503,134)     
24

TIAA-CREF FUNDS - Growth & Income Fund

 

SHARES       COMPANY  VALUE 
             
PURCHASED OPTIONS - 0.0%        
               
CONSUMER DURABLES & APPAREL - 0.0%      
 60,000       Hanesbrands, Inc  $15,000 
         TOTAL CONSUMER DURABLES & APPAREL   15,000 
               
FOOD & STAPLES RETAILING - 0.0%      
 20,000    n  Herbalife Ltd   32,000 
         TOTAL FOOD & STAPLES RETAILING   32,000 
               
HEALTH CARE EQUIPMENT & SERVICES - 0.0%      
 100,000    n  Humana, Inc   750,000 
         TOTAL HEALTH CARE EQUIPMENT & SERVICES   750,000 
               
MEDIA - 0.0%      
 60,000    n  IMAX Corp   6,000 
         TOTAL MEDIA   6,000 
               
SOFTWARE & SERVICES - 0.0%      
 30,000       Pandora Media, Inc   63,000 
         TOTAL SOFTWARE & SERVICES   63,000 
               
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%      
 30,000       Ciena Corp   27,900 
 45,000       Flextronics International Ltd   5,400 
 45,000       Lumentum Holdings, Inc   9,000 
         TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   42,300 
               
         TOTAL PURCHASED OPTIONS   908,300 
         (Cost $1,674,382)     

 

PRINCIPAL       ISSUER   RATE   MATURITY
DATE		        
SHORT-TERM INVESTMENTS - 1.9%                  
GOVERNMENT AGENCY DEBT - 0.1%                  
$ 6,550,000       Federal Home Loan Bank (FHLB)     0.090 %   08/01/16      6,550,000  
          TOTAL GOVERNMENT AGENCY DEBT                  6,550,000  
                               
SHARES       COMPANY                    
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.8%                  
  89,535,541   c   TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust                 89,535,541  
          TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES     89,535,541  
                               
          TOTAL SHORT-TERM INVESTMENTS                  96,085,541  
          (Cost $96,085,541)                    
          TOTAL INVESTMENTS - 101.5%                  5,083,216,713  
          (Cost $3,971,263,057)                    
          OTHER ASSETS & LIABILITIES, NET - (1.5)%                  (76,977,899)  
          NET ASSETS - 100.0%               $ 5,006,238,814  
25

TIAA-CREF FUNDS - Growth & Income Fund

 

       
     
    Abbreviation(s):
    ADR  American Depositary Receipt
     
* Non-income producing
c Investments made with cash collateral received from securities on loan.
e All or a portion of these securities are out on loan. The aggregate value of securities on loan is $88,277,918.
g Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 7/31/16, the aggregate value of these securities was $22,100,220 or 0.4% of net assets.
n   All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
26

TIAA-CREF FUNDS - Large-Cap Growth Fund

 

TIAA-CREF FUNDS

LARGE-CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES       COMPANY  VALUE 
               
COMMON STOCKS - 99.3%
               
AUTOMOBILES & COMPONENTS - 0.7%
 384,439       Delphi Automotive plc  $26,072,653 
         TOTAL AUTOMOBILES & COMPONENTS   26,072,653 
               
CAPITAL GOODS - 4.8%
 247,179       Honeywell International, Inc   28,754,333 
 317,614       Northrop Grumman Corp   68,804,721 
 252,479       Parker Hannifin Corp   28,830,577 
 382,604       Raytheon Co   53,384,736 
         TOTAL CAPITAL GOODS   179,774,367 
               
COMMERCIAL & PROFESSIONAL SERVICES - 3.1%
 1,665,248       Nielsen NV   89,690,257 
 318,132  *   Verisk Analytics, Inc   27,130,297 
         TOTAL COMMERCIAL & PROFESSIONAL SERVICES   116,820,554 
               
CONSUMER DURABLES & APPAREL - 1.8%
 523,205       Mattel, Inc   17,464,583 
 872,681       Nike, Inc (Class B)   48,433,795 
         TOTAL CONSUMER DURABLES & APPAREL   65,898,378 
               
CONSUMER SERVICES - 5.0%
 318,560       ARAMARK Holdings Corp   11,420,376 
 78,999  *   Chipotle Mexican Grill, Inc (Class A)   33,494,786 
 202,923       Las Vegas Sands Corp   10,278,050 
 918,594  *   MGM Resorts International   22,027,884 
 691,743  *   Norwegian Cruise Line Holdings Ltd   29,468,252 
 1,356,257       Starbucks Corp   78,730,719 
         TOTAL CONSUMER SERVICES   185,420,067 
               
DIVERSIFIED FINANCIALS - 0.5%
 203,113       Charles Schwab Corp   5,772,471 
 93,174       S&P Global, Inc   11,385,863 
         TOTAL DIVERSIFIED FINANCIALS   17,158,334 
               
ENERGY - 1.2%
 453,299       EOG Resources, Inc   37,034,528 
 283,388  *   Rice Energy, Inc   6,608,608 
         TOTAL ENERGY   43,643,136 
               
FOOD & STAPLES RETAILING - 1.0%
 170,090       Costco Wholesale Corp   28,442,450 
 348,968  *   US Foods Holding Corp   8,431,067 
         TOTAL FOOD & STAPLES RETAILING   36,873,517 
27

TIAA-CREF FUNDS - Large-Cap Growth Fund

 

SHARES      COMPANY  VALUE 
              
FOOD, BEVERAGE & TOBACCO - 3.2%
 400,159      Molson Coors Brewing Co (Class B)  $40,880,243 
 156,506      Mondelez International, Inc   6,883,134 
 345,169   *  Monster Beverage Corp   55,444,497 
 315,850      Pinnacle Foods, Inc   15,858,828 
        TOTAL FOOD, BEVERAGE & TOBACCO   119,066,702 
              
HEALTH CARE EQUIPMENT & SERVICES - 5.8%
 1,270,484      Abbott Laboratories   56,854,159 
 1,236,729   *  Cerner Corp   77,159,522 
 116,721   *  Intuitive Surgical, Inc   81,209,803 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   215,223,484 
              
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
 665,359      Estee Lauder Cos (Class A)   61,811,851 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   61,811,851 
              
MATERIALS - 4.1%
 286,460      Ecolab, Inc   33,911,135 
 871,884      Monsanto Co   93,091,055 
 84,084      Sherwin-Williams Co   25,202,497 
        TOTAL MATERIALS   152,204,687 
              
MEDIA - 3.6%
 1,230,285      Comcast Corp (Class A)   82,736,667 
 885,817      Interpublic Group of Cos, Inc   20,426,940 
 231,044      Time Warner, Inc   17,709,523 
 117,208      Walt Disney Co   11,246,107 
        TOTAL MEDIA   132,119,237 
              
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 13.5%
 451,278   *  Alexion Pharmaceuticals, Inc   58,034,351 
 322,343   *  Allergan plc   81,536,662 
 128,452   *  Biogen Idec, Inc   37,242,088 
 1,094,392      Bristol-Myers Squibb Co   81,871,465 
 685,091   *  Celgene Corp   76,860,359 
 142,911   *  Illumina, Inc   23,773,245 
 216,318      Johnson & Johnson   27,089,503 
 330,863      Thermo Electron Corp   52,554,279 
 98,740   *  Vertex Pharmaceuticals, Inc   9,577,780 
 1,092,314      Zoetis Inc   55,129,088 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   503,668,820 
              
RETAILING - 9.8%
 226,757   *  Amazon.com, Inc   172,065,479 
 76,999      Expedia, Inc   8,981,933 
 435,718      Home Depot, Inc   60,233,656 
 396,080   *  Liberty Interactive Corp   10,618,905 
 533,482      Lowe’s Companies, Inc   43,894,899 
 638,570   *  NetFlix, Inc   58,269,513 
 6,924   *  Priceline.com, Inc   9,353,009 
        TOTAL RETAILING   363,417,394 
28

TIAA-CREF FUNDS - Large-Cap Growth Fund

 

SHARES      COMPANY  VALUE 
              
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.4%
 202,117      Broadcom Ltd  $32,738,912 
 406,047      Lam Research Corp   36,450,839 
 278,481   *  Micron Technology, Inc   3,826,329 
 68,162   *  NXP Semiconductors NV   5,731,742 
 205,287      Xilinx, Inc   10,486,060 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   89,233,882 
              
SOFTWARE & SERVICES - 31.2%
 1,056,648      Activision Blizzard, Inc   42,434,984 
 1,253,332   *  Adobe Systems, Inc   122,651,070 
 111,090   *  Alphabet, Inc (Class A)   87,909,961 
 182,838   *  Alphabet, Inc (Class C)   140,564,026 
 85,613      Automatic Data Processing, Inc   7,615,276 
 316,006   *  Check Point Software Technologies   24,294,541 
 1,039,883   *  Facebook, Inc   128,883,099 
 153,065      IAC/InterActiveCorp   8,871,647 
 1,139,799      Intuit, Inc   126,506,291 
 807,604      MasterCard, Inc (Class A)   76,916,205 
 2,449,626      Microsoft Corp   138,844,802 
 74,251   *,e  Mobileye NV   3,557,366 
 511,701   *  Red Hat, Inc   38,525,968 
 891,278   *  Salesforce.com, Inc   72,906,540 
 75,742   *,g  Scout24 AG.   3,121,089 
 60,821   *  ServiceNow, Inc   4,556,709 
 467,529      Symantec Corp   9,551,618 
 1,584,324      Visa, Inc (Class A)   123,656,488 
        TOTAL SOFTWARE & SERVICES   1,161,367,680 
              
TECHNOLOGY HARDWARE & EQUIPMENT - 4.0%
 1,310,658      Apple, Inc   136,583,670 
 97,576   *  Palo Alto Networks, Inc   12,771,723 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   149,355,393 
              
TELECOMMUNICATION SERVICES - 0.9%
 692,653   *  Level 3 Communications, Inc   35,048,242 
        TOTAL TELECOMMUNICATION SERVICES   35,048,242 
              
TRANSPORTATION - 1.0%
 415,316      Union Pacific Corp   38,645,154 
        TOTAL TRANSPORTATION   38,645,154 
              
        TOTAL COMMON STOCKS   3,692,823,532 
        (Cost $2,774,198,994)     
29

TIAA-CREF FUNDS - Large-Cap Growth Fund

 

PRINCIPAL      ISSUER  RATE  MATURITY
DATE		  VALUE 
SHORT-TERM INVESTMENTS - 1.4%
GOVERNMENT AGENCY DEBT - 1.1%
$40,000,000      Federal Home Loan Bank (FHLB)   0.090%  08/01/16  $40,000,000 
        TOTAL GOVERNMENT AGENCY DEBT           40,000,000 
                      
TREASURY DEBT - 0.2%
 8,800,000      United States Treasury Bill   0.260   08/18/16   8,799,234 
        TOTAL TREASURY DEBT               8,799,234 
                          
SHARES      COMPANY                 
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.1%    
 2,572,919  c   TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		   2,572,919 
        TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   2,572,919 
                          
        TOTAL SHORT-TERM INVESTMENTS               51,372,153 
        (Cost $51,371,839)                 
        TOTAL INVESTMENTS - 100.7%               3,744,195,685 
        (Cost $2,825,570,833)                 
        OTHER ASSETS & LIABILITIES, NET - (0.7)%               (26,405,188)
        NET ASSETS - 100.0%              $3,717,790,497 

 

       
*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $2,502,914.
g   Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 7/31/16, the aggregate value of these securities was $3,121,089 or 0.1% of net assets.
30

TIAA-CREF FUNDS - Large-Cap Value Fund

 

TIAA-CREF FUNDS

LARGE-CAP VALUE FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
              
COMMON STOCKS - 98.6%
              
AUTOMOBILES & COMPONENTS - 0.4%
 372,880   *  American Axle & Manufacturing Holdings, Inc  $6,491,841 
 1,152,879      Ford Motor Co   14,595,448 
        TOTAL AUTOMOBILES & COMPONENTS   21,087,289 
              
BANKS - 9.9%
 8,792,151      Bank of America Corp   127,398,268 
 382,255      CIT Group, Inc   13,210,733 
 1,841,592      Citigroup, Inc   80,680,145 
 670,672      Citizens Financial Group, Inc   14,976,106 
 254,877      Comerica, Inc   11,530,635 
 652,031   *  Hilltop Holdings, Inc   14,201,235 
 315,081      Huntington Bancshares, Inc   2,993,269 
 1,229,841      JPMorgan Chase & Co   78,672,929 
 967,792      New York Community Bancorp, Inc   13,984,594 
 2,950,423      Regions Financial Corp   27,055,379 
 3,236,860   *  Royal Bank of Scotland Group plc   8,238,552 
 1,117,435      TCF Financial Corp   15,185,942 
 2,953,177      Wells Fargo & Co   141,663,901 
 1,310,967      Zions Bancorporation   36,549,760 
        TOTAL BANKS   586,341,448 
              
CAPITAL GOODS - 6.4%
 373,273   *  AerCap Holdings NV   13,628,197 
 146,792      Caterpillar, Inc   12,148,506 
 1,131,907   *  Colfax Corp   33,232,790 
 99,109      General Dynamics Corp   14,558,121 
 1,718,683      General Electric Co   53,519,789 
 195,105   *  Herc Holdings, Inc   6,896,962 
 377,030      L-3 Communications Holdings, Inc   57,169,059 
 611,482      Masco Corp   22,306,863 
 104,185      Raytheon Co   14,536,933 
 837,792   *  SPX Corp   12,684,171 
 713,275   *  SPX FLOW, Inc   19,458,142 
 1,432,300      Terex Corp   34,575,722 
 1,483,091      Triumph Group, Inc   45,723,695 
 274,646      United Technologies Corp   29,565,642 
 334,634   *  USG Corp   9,423,293 
        TOTAL CAPITAL GOODS   379,427,885 
              
CONSUMER DURABLES & APPAREL - 2.0%
 1,586,801      Mattel, Inc   52,967,417 
 1,574,151      Pulte Homes, Inc   33,340,518 
 316,604      Sony Corp   10,393,123 
31

TIAA-CREF FUNDS - Large-Cap Value Fund

 

SHARES      COMPANY  VALUE 
              
 663,831   e  Sony Corp (ADR)  $22,178,594 
        TOTAL CONSUMER DURABLES & APPAREL   118,879,652 
              
CONSUMER SERVICES - 3.0%
 1,099,723      ARAMARK Holdings Corp   39,425,070 
 299,456      Carnival Corp   13,990,584 
 1,355,115      Extended Stay America, Inc   19,188,428 
 1,111,556   *  MGM Resorts International   26,655,113 
 795,107   *  Red Rock Resorts, Inc   18,295,412 
 933,993      Restaurant Brands International, Inc   41,777,507 
 5,056,800      Sands China Ltd   19,348,250 
        TOTAL CONSUMER SERVICES   178,680,364 
              
DIVERSIFIED FINANCIALS - 5.2%
 225,751      American Express Co   14,551,909 
 363,798      Bank of New York Mellon Corp   14,333,641 
 121,109      Capital One Financial Corp   8,123,992 
 678,132      Goldman Sachs Group, Inc   107,694,143 
 227,834   e  iShares Dow Jones US Real Estate Index Fund   19,450,189 
 423,488      Legg Mason, Inc   14,457,880 
 1,094,503      Morgan Stanley   31,445,071 
 420,437      State Street Corp   27,656,346 
 2,433,253   *  Synchrony Financial   67,839,094 
        TOTAL DIVERSIFIED FINANCIALS   305,552,265 
              
ENERGY - 13.4%
 254,083      Anadarko Petroleum Corp   13,855,146 
 584,982      Apache Corp   30,711,555 
 916,859      Baker Hughes, Inc   43,853,366 
 2,995   *,e  California Resources Corp   30,729 
 2,373,225      Cenovus Energy, Inc   33,937,117 
 1,012,901      Chevron Corp   103,802,094 
 247,745   *,e  Continental Resources, Inc   10,913,167 
 330,633   *  Devon Energy Corp   12,656,631 
 9,548   *  Diamondback Energy, Inc   838,219 
 1,083,278      EOG Resources, Inc   88,503,813 
 961,475      Exxon Mobil Corp   85,523,201 
 3,150,776      Kinder Morgan, Inc   64,055,276 
 749,329      Marathon Oil Corp   10,220,848 
 1,590,376   *  Matador Resources Co   33,541,030 
 2,379,054      Nabors Industries Ltd   21,411,486 
 400,307   *  Newfield Exploration Co   17,333,293 
 319,226      Occidental Petroleum Corp   23,855,759 
 1,061,050   *  Parsley Energy, Inc   30,250,536 
 586,841      Plains All American Pipeline LP   16,349,390 
 1,591,907      Plains GP Holdings LP   16,906,052 
 1,035,570   *,e  RPC, Inc   15,005,409 
 736,850   *  RSP Permian, Inc   26,489,758 
 555,579      Schlumberger Ltd   44,735,221 
 232,027      Targa Resources Investments, Inc   8,645,326 
 6,013,401   *  Weatherford International Ltd   34,156,118 
 835,778   *  WPX Energy, Inc   8,349,422 
        TOTAL ENERGY   795,929,962 
32

TIAA-CREF FUNDS - Large-Cap Value Fund

 

SHARES      COMPANY  VALUE 
              
FOOD & STAPLES RETAILING - 1.1%
 539,842   *  US Foods Holding Corp  $13,042,583 
 156,175      Walgreens Boots Alliance, Inc   12,376,869 
 587,099      Wal-Mart Stores, Inc   42,840,614 
        TOTAL FOOD & STAPLES RETAILING   68,260,066 
              
FOOD, BEVERAGE & TOBACCO - 6.2%
 1,067,379      ConAgra Foods, Inc   49,910,642 
 461,181      Kellogg Co   38,144,281 
 237,922      Kraft Heinz Co   20,554,082 
 66,928      Molson Coors Brewing Co (Class B)   6,837,364 
 1,278,745      Mondelez International, Inc   56,239,205 
 1,218,387      Philip Morris International, Inc   122,155,481 
 1,481,458      Pinnacle Foods, Inc   74,384,006 
 5,919      Snyder’s-Lance, Inc   202,785 
        TOTAL FOOD, BEVERAGE & TOBACCO   368,427,846 
              
HEALTH CARE EQUIPMENT & SERVICES - 5.0%
 2,140,182      Abbott Laboratories   95,773,144 
 52,529      Anthem, Inc   6,899,159 
 102,134      Baxter International, Inc   4,904,475 
 1,413,394   *  Boston Scientific Corp   34,317,206 
 300,500      Cigna Corp   38,752,480 
 319,763   *  Express Scripts Holding Co   24,324,372 
 289,080      Medtronic plc   25,332,080 
 308,800   *  WellCare Health Plans, Inc   32,979,840 
 274,493      Zimmer Holdings, Inc   35,997,012 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   299,279,768 
              
HOUSEHOLD & PERSONAL PRODUCTS - 2.1%
 1,436,910      Procter & Gamble Co   122,985,127 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   122,985,127 
              
INSURANCE - 5.9%
 337,915      Allstate Corp   23,089,732 
 801,182      American International Group, Inc   43,616,348 
 402,084   *  Berkshire Hathaway, Inc (Class B)   58,008,659 
 334,332      Chubb Ltd   41,878,426 
 465,114      Hartford Financial Services Group, Inc   18,534,793 
 940,712      Metlife, Inc   40,206,031 
 889,521      Principal Financial Group   41,478,364 
 205,060      Travelers Cos, Inc   23,832,073 
 197,420      W.R. Berkley Corp   11,487,870 
 1,352,630      XL Group Ltd   46,814,524 
        TOTAL INSURANCE   348,946,820 
              
MATERIALS - 4.6%
 29,865   e  Acerinox S.A.   399,345 
 197,354      Albemarle Corp   16,611,286 
 2,571,078      Alcoa, Inc   27,304,848 
 219,018   *  Berry Plastics Group, Inc   8,979,738 
33

TIAA-CREF FUNDS - Large-Cap Value Fund

 

SHARES      COMPANYVALUE  
              
 376,589      Dow Chemical Co  $20,211,532 
 375,248      EI du Pont de Nemours & Co   25,955,904 
 1,289,166      Freeport-McMoRan Copper & Gold, Inc (Class B)   16,707,591 
 568,459   *  GCP Applied Technologies, Inc   15,649,676 
 4,309,289   *  Louisiana-Pacific Corp   87,047,638 
 2,023,498   *  Multi Packaging Solutions International Ltd   29,381,191 
 1,189,044      Olin Corp   24,851,020 
        TOTAL MATERIALS   273,099,769 
              
MEDIA - 0.7%
 142,971   *  AMC Networks, Inc   7,914,875 
 71,576      Naspers Ltd (N Shares)   11,231,940 
 147,380      Time Warner, Inc   11,296,677 
 270,324      Tribune Co   10,015,504 
        TOTAL MEDIA   40,458,996 
              
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 6.5%
 1,116,279      Agilent Technologies, Inc   53,704,183 
 234,858   *  Allergan plc   59,407,331 
 594,015   *  Endo International plc   10,312,100 
 749,820      Johnson & Johnson   93,899,959 
 1,068,087      Merck & Co, Inc   62,653,983 
 2,737,824      Pfizer, Inc   100,998,327 
 15,196   e  Shire plc (ADR)   2,949,848 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   383,925,731 
              
REAL ESTATE - 2.1%
 54,102      AvalonBay Communities, Inc   10,044,036 
 381,165      HCP, Inc   14,953,103 
 62,000   *  Lifestyle Properties Development Ltd   14,225 
 920,543      MGM Growth Properties LLC   24,955,921 
 363,672      Post Properties, Inc   23,125,902 
 3,902,068      WP GLIMCHER, Inc   49,478,222 
        TOTAL REAL ESTATE   122,571,409 
              
RETAILING - 1.3%
 3,404,554   *,e  Groupon, Inc   16,409,950 
 11,456,000      Hengdeli Holdings Ltd   1,199,006 
 12,959,320   *  Intime Retail Group Co Ltd   10,228,891 
 4,318,385   *  JC Penney Co, Inc   41,715,599 
 2,265,550   *  Office Depot, Inc   7,838,803 
        TOTAL RETAILING   77,392,249 
              
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.7%
 5,236,111   *,e  Advanced Micro Devices, Inc   35,919,721 
 3,941,370      Advanced Semiconductor Engineering, Inc (ADR)   22,662,878 
 1,553,028   e  Cypress Semiconductor Corp   18,077,246 
 2,746,287      Intel Corp   95,735,565 
 2,515,241      Marvell Technology Group Ltd   29,554,082 
 585,068   *  Mellanox Technologies Ltd   25,848,304 
 1,834,952   *  ON Semiconductor Corp   18,404,569 
 315,968      Qualcomm, Inc   19,773,277 
34

TIAA-CREF FUNDS - Large-Cap Value Fund

 

SHARES      COMPANY  VALUE 
              
 193,649      Xilinx, Inc  $9,891,591 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   275,867,233 
              
SOFTWARE & SERVICES - 3.3%
 104,988   *  Cimpress NV   9,952,862 
 631,183   *  eBay, Inc   19,667,662 
 207,011      IAC/InterActiveCorp   11,998,358 
 105,339   *  MicroStrategy, Inc (Class A)   18,422,738 
 2,162,489      Oracle Corp   88,748,548 
 1,609,005      Symantec Corp   32,871,972 
 467,215   *  Teradata Corp   13,259,562 
        TOTAL SOFTWARE & SERVICES   194,921,702 
              
TECHNOLOGY HARDWARE & EQUIPMENT - 3.5%
 1,104,062   *  Ciena Corp   21,186,950 
 2,230,234      Cisco Systems, Inc   68,089,044 
 396,745      Corning, Inc   8,815,674 
 1,572,437      Hewlett Packard Enterprise Co   33,052,626 
 323,804      Hitachi High-Technologies Corp   11,016,524 
 1,226,104      HP, Inc   17,177,717 
 961,369   *  Lumentum Holdings, Inc   29,081,412 
 371,970      Western Digital Corp   17,672,294 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   206,092,241 
              
TELECOMMUNICATION SERVICES - 4.5%
 2,205,997      AT&T, Inc   95,497,610 
 825,457   *  Level 3 Communications, Inc   41,768,124 
 1,360,594      Telephone & Data Systems, Inc   42,845,105 
 1,554,085      Verizon Communications, Inc   86,111,850 
        TOTAL TELECOMMUNICATION SERVICES   266,222,689 
              
TRANSPORTATION - 2.3%
 534,476      American Airlines Group, Inc   18,973,898 
 726,667   *,b,m  AMR Corp (Escrow)   7,267 
 585,297   *  Hertz Global Holdings, Inc   28,492,258 
 441,594      Kansas City Southern Industries, Inc   42,441,599 
 503,356      Union Pacific Corp   46,837,276 
        TOTAL TRANSPORTATION   136,752,298 
              
UTILITIES - 4.5%
 285,373      American Electric Power Co, Inc   19,776,349 
 271,135      Duke Energy Corp   23,206,445 
 1,855,215   *  Dynegy, Inc   28,069,403 
 205,146      Edison International   15,874,197 
 245,449      Exelon Corp   9,150,339 
 466,448      FirstEnergy Corp   16,288,364 
 580,258      NextEra Energy, Inc   74,441,299 
 403,666      PG&E Corp   25,810,404 
 110,239      Sempra Energy   12,333,539 
 926,209      Xcel Energy, Inc   40,734,672 
        TOTAL UTILITIES   265,685,011 
              
        TOTAL COMMON STOCKS   5,836,787,820 
        (Cost $4,994,129,863)     
35

TIAA-CREF FUNDS - Large-Cap Value Fund

 

PRINCIPAL       ISSUER   RATE   MATURITY
DATE		   VALUE  
                         
SHORT-TERM INVESTMENTS - 1.3%        
GOVERNMENT AGENCY DEBT - 0.2%
$ 11,800,000       Federal Home Loan Bank (FHLB)     0.090 %   08/01/16   $ 11,800,000  
          TOTAL GOVERNMENT AGENCY DEBT                 11,800,000  
                               
SHARES       COMPANY                    
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.1%
  67,726,270   c   TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		     67,726,270  
          TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES     67,726,270  
                               
          TOTAL SHORT-TERM INVESTMENTS                 79,526,270  
          (Cost $79,526,270)                    
          TOTAL INVESTMENTS - 99.9%                 5,916,314,090  
          (Cost $5,073,656,133)                    
          OTHER ASSETS & LIABILITIES, NET - 0.1%                 6,897,139  
          NET ASSETS - 100.0%               $ 5,923,211,229  

 

       
    Abbreviation(s):
  ADR  American Depositary Receipt
     
*   Non-income producing
b   In bankruptcy
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $67,254,713.
m   Indicates a security that has been deemed illiquid.
36

TIAA-CREF FUNDS - Mid-Cap Growth Fund

 

TIAA-CREF FUNDS

MID-CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
            
COMMON STOCKS - 99.4%
            
AUTOMOBILES & COMPONENTS - 1.2%
 276,078      Delphi Automotive plc  $18,723,610 
        TOTAL AUTOMOBILES & COMPONENTS   18,723,610 
              
BANKS - 2.4%
 494,427      Citizens Financial Group, Inc   11,040,555 
 1,102,212      Investors Bancorp, Inc   12,521,128 
 81,043   *  Signature Bank   9,744,610 
 51,004   *  SVB Financial Group   5,121,822 
        TOTAL BANKS   38,428,115 
              
CAPITAL GOODS - 11.2%
 62,749      Acuity Brands, Inc   16,467,220 
 81,546      Allegion plc   5,903,115 
 174,746      Ametek, Inc   8,218,305 
 261,035      Fastenal Co   11,159,246 
 242,685      Fortune Brands Home & Security, Inc   15,354,680 
 110,700   *  GMS, Inc   2,795,175 
 89,168      Lennox International, Inc   13,981,542 
 547,304      Masco Corp   19,965,650 
 127,027   *  Middleby Corp   15,291,510 
 238,921      Owens Corning, Inc   12,641,310 
 99,823      Roper Industries, Inc   17,005,846 
 73,428      Snap-On, Inc   11,540,679 
 65,532   *  TransDigm Group, Inc   18,317,505 
 439,800   *  USG Corp   12,384,768 
        TOTAL CAPITAL GOODS   181,026,551 
              
COMMERCIAL & PROFESSIONAL SERVICES - 3.3%
 81,302      Equifax, Inc   10,769,263 
 329,467      Nielsen NV   17,745,093 
 96,603   *  Stericycle, Inc   8,720,353 
 200,166   *  Verisk Analytics, Inc   17,070,156 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   54,304,865 
              
CONSUMER DURABLES & APPAREL - 6.1%
 236,140      DR Horton, Inc   7,764,284 
 417,741      Hanesbrands, Inc   11,136,975 
 177,922      Harman International Industries, Inc   14,703,474 
 292,777   *  Kate Spade & Co   6,350,333 
 544,132      Mattel, Inc   18,163,126 
 71,846   *  Mohawk Industries, Inc   15,011,503 
 337,813      Newell Brands, Inc   17,721,670 
 5,136   *  NVR, Inc   8,756,880 
        TOTAL CONSUMER DURABLES & APPAREL   99,608,245 
37

TIAA-CREF FUNDS - Mid-Cap Growth Fund

 

SHARES      COMPANY  VALUE 
              
CONSUMER SERVICES - 4.3%
 459,000      ARAMARK Holdings Corp  $16,455,150 
 34,688   *  Chipotle Mexican Grill, Inc (Class A)   14,707,365 
 640,732      Melco Crown Entertainment Ltd (ADR)   8,944,619 
 106,024   *  Norwegian Cruise Line Holdings Ltd   4,516,622 
 138,675   *  Red Rock Resorts, Inc   3,190,912 
 223,932      Restaurant Brands International, Inc   10,016,478 
 116,173   *  ServiceMaster Global Holdings, Inc   4,394,825 
 189,994   *,e  Zoe’s Kitchen, Inc   6,752,387 
        TOTAL CONSUMER SERVICES   68,978,358 
              
DIVERSIFIED FINANCIALS - 5.4%
 55,000   *  Affiliated Managers Group, Inc   8,072,900 
 626,010   e,n  iShares Russell Midcap Growth Index Fund   61,286,379 
 283,859      Lazard Ltd (Class A)   10,145,121 
 173,000      Oaktree Capital Group LLC   8,030,660 
        TOTAL DIVERSIFIED FINANCIALS   87,535,060 
              
ENERGY - 0.9%
 75,719   *  Diamondback Energy, Inc   6,647,371 
 218,478   *  RSP Permian, Inc   7,854,284 
        TOTAL ENERGY   14,501,655 
              
FOOD & STAPLES RETAILING - 0.2%
 152,766   *  US Foods Holding Corp   3,690,827 
        TOTAL FOOD & STAPLES RETAILING   3,690,827 
              
FOOD, BEVERAGE & TOBACCO - 6.3%
 204,240      ConAgra Foods, Inc   9,550,262 
 26,548      Constellation Brands, Inc (Class A)   4,370,597 
 128,248      Dr Pepper Snapple Group, Inc   12,633,711 
 79,879      Hershey Co   8,847,398 
 136,964      Kellogg Co   11,328,292 
 85,597      Mead Johnson Nutrition Co   7,635,252 
 175,701   *  Post Holdings, Inc   15,228,006 
 153,376      Tyson Foods, Inc (Class A)   11,288,474 
 395,569   *  WhiteWave Foods Co (Class A)   21,950,124 
        TOTAL FOOD, BEVERAGE & TOBACCO   102,832,116 
              
HEALTH CARE EQUIPMENT & SERVICES - 11.7%
 278,645   *,e  Acadia Healthcare Co, Inc   15,743,442 
 32,197      Bard (C.R.), Inc   7,203,435 
 519,488   *  Brookdale Senior Living, Inc   9,594,943 
 226,405   *  Centene Corp   15,972,873 
 312,337   *  Cerner Corp   19,486,705 
 101,381   *  DexCom, Inc   9,350,370 
 208,534   *  Edwards Lifesciences Corp   23,881,314 
 513,162   *  Envision Healthcare Holdings, Inc   12,618,654 
 93,167   *  Henry Schein, Inc   16,861,364 
 253,463   *  Insulet Corp   8,970,055 
38

TIAA-CREF FUNDS - Mid-Cap Growth Fund

 

SHARES      COMPANY  VALUE 
              
 31,664   *  Intuitive Surgical, Inc  $22,030,545 
 216,017   *  MEDNAX, Inc   14,885,731 
 96,239      Zimmer Holdings, Inc   12,620,782 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   189,220,213 
              
HOUSEHOLD & PERSONAL PRODUCTS - 0.4%
 68,235      Church & Dwight Co, Inc   6,703,406 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   6,703,406 
              
MATERIALS - 5.1%
 114,205      Albemarle Corp   9,612,635 
 162,869      Avery Dennison Corp   12,685,867 
 377,086   *  Berry Plastics Group, Inc   15,460,526 
 155,727   *  GCP Applied Technologies, Inc   4,287,164 
 631,980      Olin Corp   13,208,382 
 160,968      Sealed Air Corp   7,594,470 
 25,769      Sherwin-Williams Co   7,723,742 
 155,727      WR Grace & Co   11,659,281 
        TOTAL MATERIALS   82,232,067 
              
MEDIA - 1.4%
 97,353   *  AMC Networks, Inc   5,389,462 
 719,463      Interpublic Group of Cos, Inc   16,590,817 
        TOTAL MEDIA   21,980,279 
              
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.4%
 128,882   *  BioMarin Pharmaceutical, Inc   12,813,449 
 99,119   *  Coherus Biosciences, Inc   2,516,631 
 77,700   *  Illumina, Inc   12,925,395 
 159,598   *  Incyte Corp   14,397,336 
 966,100   *  Merrimack Pharmaceuticals, Inc   5,603,380 
 469,369      Zoetis Inc   23,689,053 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   71,945,244 
              
REAL ESTATE - 2.0%
 65,376   n  Equinix, Inc   24,376,749 
 242,531      Gaming and Leisure Properties, Inc   8,689,886 
        TOTAL REAL ESTATE   33,066,635 
              
RETAILING - 11.5%
 29,024      Advance Auto Parts, Inc   4,930,017 
 27,220   *  AutoZone, Inc   22,156,263 
 236,882      Dollar General Corp   22,442,201 
 258,322   *  Dollar Tree, Inc   24,873,825 
 67,690      Expedia, Inc   7,896,038 
 88,528   *  O’Reilly Automotive, Inc   25,728,893 
 374,095      Ross Stores, Inc   23,130,294 
 375,041   *  Sally Beauty Holdings, Inc   10,999,953 
 171,563      Signet Jewelers Ltd   15,082,103 
 230,329      Tractor Supply Co   21,109,653 
 30,348   *  Ulta Salon Cosmetics & Fragrance, Inc   7,927,201 
        TOTAL RETAILING   186,276,441 
39

TIAA-CREF FUNDS - Mid-Cap Growth Fund

 

SHARES      COMPANY  VALUE 
              
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.6%
 751      Analog Devices, Inc  $47,936 
 210,474      ChipMOS TECHNOLOGIES Bermuda Ltd   3,653,829 
 195,346   e  Lam Research Corp   17,536,210 
 91,050      Maxim Integrated Products, Inc   3,713,019 
 206,682   *  Mellanox Technologies Ltd   9,131,211 
 265,039      Microchip Technology, Inc   14,746,770 
 324,129      Nvidia Corp   18,507,766 
 118,142      Skyworks Solutions, Inc   7,799,735 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   75,136,476 
              
SOFTWARE & SERVICES - 15.5%
 33,080   *  Alliance Data Systems Corp   7,661,990 
 258,763      CDK Global, Inc   14,953,914 
 76,390   *  Citrix Systems, Inc   6,808,641 
 261,308   *  comScore, Inc   6,780,943 
 302,388      CSRA, Inc   8,140,285 
 247,485   *  Electronic Arts, Inc   18,888,055 
 143,180      Fidelity National Information Services, Inc   11,387,105 
 130,483   *  Fiserv, Inc   14,400,104 
 131,008   *  FleetCor Technologies, Inc   19,871,293 
 241,102   *  Fortinet, Inc   8,363,828 
 246,400   *,e  GrubHub, Inc   9,343,488 
 166,722   *  Guidewire Software, Inc   10,248,401 
 131,542      IAC/InterActiveCorp   7,624,174 
 56,978   *  LinkedIn Corp   10,981,370 
 56,735   *  MicroStrategy, Inc (Class A)   9,922,384 
 251,806   *,e  Mobileye NV   12,064,026 
 230,925   *,e,n  Proofpoint, Inc   17,520,280 
 263,366   *  QLIK Technologies, Inc   7,953,653 
 649,075   *  RingCentral, Inc   14,948,197 
 161,194   *  ServiceNow, Inc   12,076,655 
 103,865   *  Splunk, Inc   6,495,717 
 263,363   *  Vantiv, Inc   14,424,391 
        TOTAL SOFTWARE & SERVICES   250,858,894 
              
TECHNOLOGY HARDWARE & EQUIPMENT - 1.5%
 343,064   *  Lumentum Holdings, Inc   10,377,686 
 48,163   *  Palo Alto Networks, Inc   6,304,055 
 16,340   *  Talend S.A. (ADR)   416,670 
 283,287   *  Trimble Navigation Ltd   7,490,108 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   24,588,519 
              
        TOTAL COMMON STOCKS   1,611,637,576 
        (Cost $1,360,441,099)     
40

TIAA-CREF FUNDS - Mid-Cap Growth Fund

 

SHARES       COMPANY           VALUE  
                               
PURCHASED OPTIONS - 0.0%                    
                               
SOFTWARE & SERVICES - 0.0%                    
  150,000       Proofpoint, Inc               $ 52,500  
          TOTAL SOFTWARE & SERVICES                 52,500  
                               
          TOTAL PURCHASED OPTIONS                 52,500  
          (Cost $542,625)                    
                               
PRINCIPAL       ISSUER   RATE   MATURITY
DATE		      
SHORT-TERM INVESTMENTS - 5.5%        
GOVERNMENT AGENCY DEBT - 1.0%
$ 16,350,000       Federal Home Loan Bank (FHLB)     0.090 %   08/01/16     16,350,000  
          TOTAL GOVERNMENT AGENCY DEBT                 16,350,000  
                               
SHARES       COMPANY                    
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 4.5%
  73,456,602   c   TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust                 73,456,602  
          TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES           73,456,602  
                               
          TOTAL SHORT-TERM INVESTMENTS                 89,806,602  
          (Cost $89,806,602)                    
          TOTAL INVESTMENTS - 104.9%                 1,701,496,678  
          (Cost $1,450,790,326)                    
          OTHER ASSETS & LIABILITIES, NET - (4.9)%                 (79,504,602 )
          NET ASSETS - 100.0%               $ 1,621,992,076  

 

     
       
    Abbreviation(s):
    ADR  American Depositary Receipt
     
*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $71,283,650.
n   All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
41

TIAA-CREF FUNDS - Mid-Cap Value Fund

 

TIAA-CREF FUNDS

MID-CAP VALUE FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES       COMPANY  VALUE 
               
COMMON STOCKS - 99.0%      
               
AUTOMOBILES & COMPONENTS - 0.9%      
 177,748       Delphi Automotive plc  $12,054,869 
 183,655       Lear Corp   20,835,660 
 244,253       Magna International, Inc (Class A)   9,420,838 
 91,834       Visteon Corp   6,436,645 
         TOTAL AUTOMOBILES & COMPONENTS   48,748,012 
               
BANKS - 6.6%      
 605,689       BankUnited   18,182,784 
 555,936       CIT Group, Inc   19,213,148 
 730,000       Comerica, Inc   33,025,200 
 748,294       East West Bancorp, Inc   25,606,621 
 370,000       First Republic Bank   26,517,900 
 1,150,102   *   Hilltop Holdings, Inc   25,049,222 
 1,830,000       Huntington Bancshares, Inc   17,385,000 
 1,214,578       Investors Bancorp, Inc   13,797,606 
 1,553,233       Keycorp   18,172,826 
 208,539       M&T Bank Corp   23,890,228 
 800,000       New York Community Bancorp, Inc   11,560,000 
 1,000,000       Regions Financial Corp   9,170,000 
 785,709       SunTrust Banks, Inc   33,227,633 
 618,541       Synovus Financial Corp   18,828,388 
 724,909       Talmer Bancorp Inc   15,237,587 
 670,000       TCF Financial Corp   9,105,300 
 187,089       Wintrust Financial Corp   9,878,299 
 1,015,000       Zions Bancorporation   28,298,200 
         TOTAL BANKS   356,145,942 
               
CAPITAL GOODS - 6.5%      
 500,000  *   AerCap Holdings NV   18,255,000 
 1,050,000  *   Babcock & Wilcox Enterprises, Inc   16,128,000 
 243,566       Crane Co   15,174,162 
 225,000       Fluor Corp   12,042,000 
 570,000       Hexcel Corp   24,606,900 
 168,377       Hubbell, Inc   18,156,092 
 382,911       Ingersoll-Rand plc   25,371,683 
 482,819       ITT, Inc   15,310,190 
 700,000       KBR, Inc   9,814,000 
 246,326       L-3 Communications Holdings, Inc   37,350,411 
 140,000       Lennox International, Inc   21,952,000 
 355,448       Masco Corp   12,966,743 
 205,794  *   Masonite International Corp   14,370,595 
 138,257       Rockwell Collins, Inc   11,699,307 
 456,339  *   SPX FLOW, Inc   12,448,928 
 1,530,000       Textron, Inc   59,670,000 
42

TIAA-CREF FUNDS - Mid-Cap Value Fund

 

SHARES      COMPANY  VALUE 
               
 150,000   *  WABCO Holdings, Inc  $15,040,500 
 111,865      Westinghouse Air Brake Technologies Corp   7,662,753 
        TOTAL CAPITAL GOODS   348,019,264 
               
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%        
 807,374      Republic Services, Inc   41,385,991 
 209,555      Tyco International plc   9,549,422 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   50,935,413 
               
CONSUMER DURABLES & APPAREL - 2.7%        
 1,040,000      Mattel, Inc   34,715,200 
 104,325   *  Mohawk Industries, Inc   21,797,665 
 764,569      Newell Brands, Inc   40,109,290 
 5,994   *  NVR, Inc   10,219,770 
 314,503      Sony Corp   10,324,153 
 217,480   *  Steven Madden Ltd   7,616,150 
 265,000   *,e  Tempur Sealy International, Inc   20,041,950 
        TOTAL CONSUMER DURABLES & APPAREL   144,824,178 
               
CONSUMER SERVICES - 0.9%        
 514,452      ARAMARK Holdings Corp   18,443,104 
 215,141      Darden Restaurants, Inc   13,244,080 
 233,856      Interval Leisure Group, Inc   4,204,731 
 289,971      Restaurant Brands International, Inc   12,970,403 
        TOTAL CONSUMER SERVICES   48,862,318 
               
DIVERSIFIED FINANCIALS - 3.0%        
 490,000      Ameriprise Financial, Inc   46,961,600 
 1,210,699   *  E*TRADE Financial Corp   30,364,331 
 258,410      Lazard Ltd (Class A)   9,235,574 
 408,646      Raymond James Financial, Inc   22,434,665 
 1,838,491   *  Synchrony Financial   51,257,129 
        TOTAL DIVERSIFIED FINANCIALS   160,253,299 
               
ENERGY - 10.3%        
 285,000      Anadarko Petroleum Corp   15,541,050 
 330,000      Apache Corp   17,325,000 
 435,000      Baker Hughes, Inc   20,806,050 
 1,150,000   *  Callon Petroleum Co   13,098,500 
 1,550,000      Capital Product Partners LP   5,843,500 
 320,000      Cimarex Energy Co   38,406,400 
 284,457   *  Concho Resources, Inc   35,329,559 
 615,000   *,e  Continental Resources, Inc   27,090,750 
 260,075   *  Diamondback Energy, Inc   22,831,984 
 182,471   *  Dril-Quip, Inc   9,931,897 
 625,000      Energen Corp   29,612,500 
 306,458      EQT Corp   22,328,530 
 1,000,000      Hess Corp   53,650,000 
 253,484      HollyFrontier Corp   6,443,563 
 1,030,000   *  Matador Resources Co   21,722,700 
 640,000   *  Newfield Exploration Co   27,712,000 
 167,849      Noble Energy, Inc   5,995,566 
43

TIAA-CREF FUNDS - Mid-Cap Value Fund

 

SHARES      COMPANY  VALUE 
               
 272,275      Oceaneering International, Inc  $7,591,027 
 1,005,662   *  Parsley Energy, Inc   28,671,424 
 867,469      Patterson-UTI Energy, Inc   16,820,224 
 205,000      Pioneer Natural Resources Co   33,326,850 
 525,000      Plains All American Pipeline LP   14,626,500 
 677,860      Rowan Cos plc   10,330,587 
 450,000   *,e  RPC, Inc   6,520,500 
 622,313   *  RSP Permian, Inc   22,372,152 
 886,306      Superior Energy Services   14,154,307 
 150,000      Targa Resources Investments, Inc   5,589,000 
 485,635      Tesco Corp   3,210,047 
 235,732      Tesoro Corp   17,950,992 
        TOTAL ENERGY   554,833,159 
               
FOOD, BEVERAGE & TOBACCO - 6.1%        
 1,060,000      Bunge Ltd   69,790,400 
 1,170,000      ConAgra Foods, Inc   54,709,200 
 1,350,000   e  Cott Corp   20,155,500 
 440,000      Dean Foods Co   8,122,400 
 436,668      Molson Coors Brewing Co (Class B)   44,610,003 
 542,579      Pinnacle Foods, Inc   27,242,892 
 310,000   *  Post Holdings, Inc   26,867,700 
 460,176      Reynolds American, Inc   23,036,410 
 730,000      Tyson Foods, Inc (Class A)   53,728,000 
        TOTAL FOOD, BEVERAGE & TOBACCO   328,262,505 
               
HEALTH CARE EQUIPMENT & SERVICES - 2.6%        
 2,180,000   *  Boston Scientific Corp   52,930,400 
 121,084   *  HCA Holdings, Inc   9,339,209 
 165,289      Healthsouth Corp   7,115,691 
 104,325      Humana, Inc   18,001,279 
 234,537      Universal Health Services, Inc (Class B)   30,379,578 
 182,979      Zimmer Holdings, Inc   23,995,866 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   141,762,023 
               
INSURANCE - 7.3%        
 450,000      Allied World Assurance Co Holdings Ltd   18,445,500 
 303,015      Aon plc   32,443,816 
 257,127   *  Arch Capital Group Ltd   18,675,134 
 278,443      Argo Group International Holdings Ltd   14,448,407 
 293,179      Chubb Ltd   36,723,601 
 575,000      Conseco, Inc   9,987,750 
 112,047      Everest Re Group Ltd   21,178,004 
 1,217,755      Hartford Financial Services Group, Inc   48,527,537 
 202,977      Intact Financial Corp   14,549,548 
 568,284      Marsh & McLennan Cos, Inc   37,364,673 
 550,000      Principal Financial Group   25,646,500 
 340,000      ProAssurance Corp   17,564,400 
 142,347      RenaissanceRe Holdings Ltd   16,728,620 
 351,986      UnumProvident Corp   11,759,852 
 654,900      Validus Holdings Ltd   32,371,707 
 1,000,000      XL Group Ltd   34,610,000 
        TOTAL INSURANCE   391,025,049 
44

TIAA-CREF FUNDS - Mid-Cap Value Fund

 

SHARES      COMPANY  VALUE 
               
MATERIALS - 7.4%        
 770,000      Albemarle Corp  $64,810,900 
 198,468      Ashland, Inc   22,474,516 
 550,000      Axiall Corp   17,957,500 
 701,475   *  Berry Plastics Group, Inc   28,760,475 
 279,414   *  Clearwater Paper Corp   17,577,935 
 385,656   *  Crown Holdings, Inc   20,428,198 
 721,632   *  Ferro Corp   9,352,351 
 1,600,000      Freeport-McMoRan Copper & Gold, Inc (Class B)   20,736,000 
 570,820   *  GCP Applied Technologies, Inc   15,714,675 
 19,192   *  Ingevity Corp   734,478 
 2,510,000   *  Louisiana-Pacific Corp   50,702,000 
 1,458,097   *  Multi Packaging Solutions International Ltd   21,171,568 
 440,000      Newmont Mining Corp   19,360,000 
 908,023      Olin Corp   18,977,681 
 142,863      Schweitzer-Mauduit International, Inc   5,401,650 
 550,000      Steel Dynamics, Inc   14,751,000 
 115,152      WestRock Co   4,941,172 
 570,820      WR Grace & Co   42,737,293 
        TOTAL MATERIALS   396,589,392 
               
MEDIA - 1.5%        
 95,000   *  DISH Network Corp (Class A)   5,074,900 
 390,247      EW Scripps Co (Class A)   6,618,589 
 1,336,262      Interpublic Group of Cos, Inc   30,814,202 
 45,929   *  Madison Square Garden Co   8,395,362 
 1,550,000   e  MDC Partners, Inc   19,778,000 
 137,753   *  MSG Networks, Inc   2,210,936 
 142,347      Tribune Co   5,273,956 
        TOTAL MEDIA   78,165,945 
               
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 2.6%        
 1,040,000      Agilent Technologies, Inc   50,034,400 
 558,000   *  H Lundbeck AS   22,682,466 
 102,000      Lonza Group AG.   19,208,671 
 1,024,436   *  Merrimack Pharmaceuticals, Inc   5,941,729 
 660,000   *  Mylan NV   30,881,400 
 210,000      PerkinElmer, Inc   11,953,200 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   140,701,866 
               
REAL ESTATE - 11.5%        
 467,694      American Assets Trust,Inc   21,457,801 
 475,000      American Campus Communities, Inc   25,683,250 
 295,000      AvalonBay Communities, Inc   54,766,750 
 471,906      Blackstone Mortgage Trust, Inc   13,689,993 
 224,500      Boston Properties, Inc   31,908,185 
 760,000      DDR Corp   15,002,400 
 745,044   *  Equity Commonwealth   22,366,221 
 351,383      Gaming and Leisure Properties, Inc   12,590,053 
 860,000      General Growth Properties, Inc   27,477,000 
 1,170,000      HCP, Inc   45,899,100 
 1,800,000      Host Marriott Corp   31,932,000 
45

TIAA-CREF FUNDS - Mid-Cap Value Fund

 

SHARES      COMPANY  VALUE 
               
 782,297      Kennedy-Wilson Holdings, Inc  $16,467,352 
 628,987      Kimco Realty Corp   20,190,483 
 1,257,494      MFA Mortgage Investments, Inc   9,456,355 
 300,000      Mid-America Apartment Communities, Inc   31,806,000 
 460,051      Pennsylvania REIT   11,703,697 
 336,731      Post Properties, Inc   21,412,724 
 690,000      Prologis, Inc   37,598,100 
 657,440      STORE Capital Corp   20,505,553 
 525,000      Ventas, Inc   39,984,000 
 449,932      Weingarten Realty Investors   19,432,563 
 590,000      Welltower, Inc   46,804,700 
 2,875,000      WP GLIMCHER, Inc   36,455,000 
        TOTAL REAL ESTATE   614,589,280 
               
RETAILING - 3.0%        
 96,439      Advance Auto Parts, Inc   16,381,129 
 4,650,000   *,e  JC Penney Co, Inc   44,919,000 
 1,055,966   *  Liberty Interactive Corp   28,310,448 
 133,175   *  Liberty Ventures   5,022,029 
 3,700,000   *  Office Depot, Inc   12,802,000 
 849,362      Staples, Inc   7,890,573 
 545,000      TJX Companies, Inc   44,537,400 
        TOTAL RETAILING   159,862,579 
               
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.1%        
 1,253,384      Applied Materials, Inc   32,951,465 
 562,821   e  Cypress Semiconductor Corp   6,551,237 
 462,982   e  Lam Research Corp   41,561,894 
 1,625,000   *  Micron Technology, Inc   22,327,500 
 150,000   *  NXP Semiconductors NV   12,613,500 
 1,370,348   *  ON Semiconductor Corp   13,744,590 
 740,000      Xilinx, Inc   37,799,200 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   167,549,386 
               
SOFTWARE & SERVICES - 2.9%        
 998,134      CA, Inc   34,585,343 
 195,732   *  Citrix Systems, Inc   17,445,593 
 26,635   *,e  CommerceHub, Inc   372,890 
 13,318   *,e  CommerceHub, Inc (Series A)   187,777 
 250,000      IAC/InterActiveCorp   14,490,000 
 855,000      Mentor Graphics Corp   18,262,800 
 2,315,522      Symantec Corp   47,306,115 
 2,000,000      Xerox Corp   20,600,000 
        TOTAL SOFTWARE & SERVICES   153,250,518 
               
TECHNOLOGY HARDWARE & EQUIPMENT - 3.9%        
 1,350,000      Brocade Communications Systems, Inc   12,555,000 
 2,575,496   *  Ciena Corp   49,423,768 
 870,000      Juniper Networks, Inc   19,740,300 
 783,056   *  Lumentum Holdings, Inc   23,687,444 
 1,705,000   e  Nokia Corp   9,837,850 
 1,800,000      Nokia Oyj (Turquoise)   10,385,094 
 747,075      TE Connectivity Ltd   45,033,681 
46

TIAA-CREF FUNDS - Mid-Cap Value Fund

 

SHARES        COMPANY  VALUE 
                
 770,000        Western Digital Corp  $36,582,700 
          TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   207,245,837 
                
TELECOMMUNICATION SERVICES - 1.6%      
 1,110,000    *   Level 3 Communications, Inc   56,166,000 
 442,347        Telephone & Data Systems, Inc   13,929,507 
 316,488    *   T-Mobile US, Inc   14,666,054 
          TOTAL TELECOMMUNICATION SERVICES   84,761,561 
                
TRANSPORTATION - 1.4%      
 125,000        Alaska Air Group, Inc   8,402,500 
 260,000    *   Avis Budget Group, Inc   9,549,800 
 216,192        Costamare, Inc   2,116,520 
 930,000        CSX Corp   26,346,900 
 60,000        Delta Air Lines, Inc   2,325,000 
 250,000        Kansas City Southern Industries, Inc   24,027,500 
          TOTAL TRANSPORTATION   72,768,220 
                
UTILITIES - 12.3%      
 250,000        Ameren Corp   13,110,000 
 335,000        American Electric Power Co, Inc   23,215,500 
 417,453        American Water Works Co, Inc   34,473,269 
 540,000    *   Calpine Corp   7,419,600 
 1,245,126        Centerpoint Energy, Inc   29,783,414 
 710,000        CMS Energy Corp   32,077,800 
 445,000        DTE Energy Co   43,396,400 
 900,000    *   Dynegy, Inc   13,617,000 
 718,342        Edison International   55,585,304 
 620,000        FirstEnergy Corp   21,650,400 
 400,000        ITC Holdings Corp   18,500,000 
 136,736        National Fuel Gas Co   7,726,951 
 190,000        NextEra Energy, Inc   24,375,100 
 850,000        NiSource, Inc   21,811,000 
 316,070        NorthWestern Corp   19,198,092 
 565,094        OGE Energy Corp   18,179,074 
 510,000        PG&E Corp   32,609,400 
 325,000        Pinnacle West Capital Corp   25,632,750 
 1,082,301        PPL Corp   40,813,570 
 833,276        Public Service Enterprise Group, Inc   38,339,029 
 287,342        Questar Corp   7,232,398 
 616,290        Sempra Energy   68,950,525 
 327,000        Southwest Gas Corp   25,342,500 
 239,387        Westar Energy, Inc   13,302,736 
 540,000        Xcel Energy, Inc   23,749,200 
          TOTAL UTILITIES   660,091,012 
                
          TOTAL COMMON STOCKS   5,309,246,758 
          (Cost $4,161,664,455)     
47

TIAA-CREF FUNDS - Mid-Cap Value Fund

 

PRINCIPAL                    ISSUER   RATE  MATURITY DATE   VALUE 
SHORT-TERM INVESTMENTS - 4.3%               
GOVERNMENT AGENCY DEBT - 0.2%               
$12,650,000     Federal Home Loan Bank (FHLB)    0.090%  08/01/16   $12,650,000 
       TOTAL GOVERNMENT AGENCY DEBT             12,650,000 
                       
TREASURY DEBT - 1.2%               
 27,900,000     United States Treasury Bill    0.265-0.266   08/04/16    27,899,693 
 34,000,000     United States Treasury Bill    0.271  08/18/16    33,997,042 
       TOTAL TREASURY DEBT             61,896,735 
                       
SHARES     COMPANY               
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.9%               
 157,090,788  a,c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		    157,090,788 
       TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES    157,090,788 
                       
       TOTAL SHORT-TERM INVESTMENTS             231,637,523 
       (Cost $231,635,820)               
       TOTAL INVESTMENTS - 103.3%             5,540,884,281 
       (Cost $4,393,300,275)               
       OTHER ASSETS & LIABILITIES, NET - (3.3)%             (177,933,898)
       NET ASSETS - 100.0%            $5,362,950,383 

                             
     
    Abbreviation(s):
  REIT    Real Estate Investment Trust
     
*   Non-income producing
a   Affiliated holding
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $149,181,828.

48

TIAA-CREF FUNDS - Small-Cap Equity Fund

 

TIAA-CREF FUNDS

SMALL-CAP EQUITY FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES       COMPANY  VALUE 
               
COMMON STOCKS - 99.0%      
               
AUTOMOBILES & COMPONENTS - 0.7%      
 511,900    *  American Axle & Manufacturing Holdings, Inc  $8,912,179 
 207,844    *  Tenneco, Inc   11,747,343 
         TOTAL AUTOMOBILES & COMPONENTS   20,659,522 
               
BANKS - 9.8%      
 140,896       BankUnited   4,229,698 
 202,260       Banner Corp   8,442,332 
 831,233       Brookline Bancorp, Inc   9,467,744 
 351,432       Capitol Federal Financial   4,979,791 
 130,120       Cathay General Bancorp   3,900,998 
 204,530       Columbia Banking System, Inc   6,201,350 
 595,900    *  Essent Group Ltd   14,277,764 
 779,800       First Commonwealth Financial Corp   7,525,070 
 655,340       First Midwest Bancorp, Inc   12,235,198 
 1,284,248       Fulton Financial Corp   17,529,985 
 464,270       Great Western Bancorp, Inc   15,399,836 
 545,650    *  Hilltop Holdings, Inc   11,884,257 
 289,140       IBERIABANK Corp   18,062,576 
 1,383,300       Investors Bancorp, Inc   15,714,288 
 390,500       LegacyTexas Financial Group, Inc   11,137,060 
 493,191       Oritani Financial Corp   7,999,558 
 204,420       Pinnacle Financial Partners, Inc   10,856,746 
 187,716       Popular, Inc   6,324,152 
 346,147       PrivateBancorp, Inc   15,299,697 
 788,630       Provident Financial Services, Inc   15,890,895 
 1,361,280       Radian Group, Inc   17,560,512 
 801,668       Sterling Bancorp/DE   13,540,172 
 662,290       Umpqua Holdings Corp   10,086,677 
 576,512       United Community Banks, Inc   11,092,091 
 484,600       Washington Federal, Inc   12,115,000 
 246,770    *  Western Alliance Bancorp   8,397,583 
 282,900       Wintrust Financial Corp   14,937,120 
         TOTAL BANKS   305,088,150 
               
CAPITAL GOODS - 8.3%      
 182,857    *  American Woodmark Corp   13,573,475 
 185,570       Apogee Enterprises, Inc   8,675,398 
 312,336       Barnes Group, Inc   11,846,904 
 386,780    *  Beacon Roofing Supply, Inc   18,186,396 
 250,900    *  Colfax Corp   7,366,424 
 368,500       Comfort Systems USA, Inc   11,195,030 
 150,240       Crane Co   9,359,952 
 200,990       Cubic Corp   8,208,432 
 371,900    *  DigitalGlobe, Inc   10,026,424 
49

TIAA-CREF FUNDS - Small-Cap Equity Fund

 

SHARES      COMPANY  VALUE 
               
 381,166      EMCOR Group, Inc  $21,230,946 
 211,552      Encore Wire Corp   7,939,547 
 203,455      EnerSys   12,685,419 
 165,340      EnPro Industries, Inc   7,564,305 
 116,900   e  HEICO Corp   8,125,719 
 338,440      ITT, Inc   10,731,932 
 114,131      John Bean Technologies Corp   7,637,647 
 151,390   *  Moog, Inc (Class A)   8,337,047 
 578,100   *  MRC Global, Inc   7,648,263 
 399,106      Mueller Industries, Inc   13,585,568 
 67,560      Orbital ATK, Inc   5,885,827 
 147,900   *  Patrick Industries, Inc   9,548,424 
 317,740   *  SPX FLOW, Inc   8,667,947 
 115,600      Toro Co   10,629,420 
 121,506      Universal Forest Products, Inc   13,137,229 
 584,800   *  Wabash National Corp   8,467,904 
        TOTAL CAPITAL GOODS   260,261,579 
               
COMMERCIAL & PROFESSIONAL SERVICES - 2.7%        
 429,390      Herman Miller, Inc   14,071,110 
 71,472      HNI Corp   3,725,835 
 289,676      Kforce, Inc   5,173,614 
 459,754   *  Navigant Consulting, Inc   9,061,751 
 247,000   *  On Assignment, Inc   9,126,650 
 399,311      Rollins, Inc   11,252,584 
 330,540   *  TransUnion   10,815,269 
 242,495      Viad Corp   8,443,676 
 179,775   *  WageWorks, Inc   11,111,893 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   82,782,382 
               
CONSUMER DURABLES & APPAREL - 3.5%        
 276,540      Brunswick Corp   13,721,915 
 156,640      Columbia Sportswear Co   8,967,640 
 89,980   *  Helen of Troy Ltd   8,962,908 
 443,600   *  Kate Spade & Co   9,621,684 
 338,388      La-Z-Boy, Inc   10,226,085 
 451,246   *  Nautilus, Inc   8,501,474 
 142,971      Oxford Industries, Inc   8,175,082 
 131,650      Pool Corp   13,465,162 
 1,256,370   *  TRI Pointe Homes, Inc   16,898,177 
 208,500   *  Vista Outdoor, Inc   10,435,425 
        TOTAL CONSUMER DURABLES & APPAREL   108,975,552 
               
CONSUMER SERVICES - 4.2%        
 417,000   *  Apollo Group, Inc (Class A)   3,748,830 
 1,082,297   *  Belmond Ltd.   12,435,593 
 461,900      Bloomin’ Brands, Inc   8,304,962 
 240,440      Cheesecake Factory   12,437,961 
 69,370      Churchill Downs, Inc   9,096,488 
 216,690   *  Dave & Buster’s Entertainment, Inc   9,642,705 
 598,600   *  Denny’s Corp   6,680,376 
 359,901   *  Grand Canyon Education, Inc   15,137,436 
 472,300      International Game Technology plc   9,871,070 
50

TIAA-CREF FUNDS - Small-Cap Equity Fund

 

SHARES      COMPANY  VALUE 
               
 523,100      Interval Leisure Group, Inc  $9,405,338 
 445,137   *  K12, Inc   5,510,796 
 135,560      Marriott Vacations Worldwide Corp   10,343,228 
 130,680   l  Vail Resorts, Inc   18,696,387 
        TOTAL CONSUMER SERVICES   131,311,170 
               
DIVERSIFIED FINANCIALS - 1.4%        
 268,438      Evercore Partners, Inc (Class A)   13,601,754 
 648,000      NorthStar Asset Management Group, Inc   7,685,280 
 1,536,960   *  SLM Corp   11,050,742 
 313,900   *  Stifel Financial Corp   11,096,365 
        TOTAL DIVERSIFIED FINANCIALS   43,434,141 
               
ENERGY - 3.8%        
 1,246,750   *  Callon Petroleum Co   14,200,483 
 284,700   *  Carrizo Oil & Gas, Inc   9,338,160 
 311,012      Delek US Holdings, Inc   3,893,870 
 359,248   *  Exterran Corp   4,569,635 
 473,200      Green Plains Renewable Energy, Inc   10,732,176 
 345,262   *  Matrix Service Co   5,720,991 
 3,386,220   *,e  McDermott International, Inc   17,540,620 
 889,100   *  Oasis Petroleum, Inc   6,757,160 
 481,875   *  Parsley Energy, Inc   13,738,256 
 493,400      Questar Market Resources, Inc   8,979,880 
 1,002,451   *,e  Renewable Energy Group, Inc   9,773,897 
 341,100   *  Rice Energy, Inc   7,954,452 
 905,000   *  Synergy Resources Corp   5,891,550 
        TOTAL ENERGY   119,091,130 
               
FOOD & STAPLES RETAILING - 0.5%        
 304,200   *  United Natural Foods, Inc   15,203,916 
        TOTAL FOOD & STAPLES RETAILING   15,203,916 
               
FOOD, BEVERAGE & TOBACCO - 2.1%        
 989,070   *  Darling International, Inc   15,607,525 
 706,910   e  Dean Foods Co   13,049,558 
 168,700      Fresh Del Monte Produce, Inc   9,590,595 
 113,616      Lancaster Colony Corp   14,765,535 
 566,564   e  Vector Group Ltd   12,515,399 
        TOTAL FOOD, BEVERAGE & TOBACCO   65,528,612 
               
HEALTH CARE EQUIPMENT & SERVICES - 5.7%        
 139,847   *  Anika Therapeutics, Inc   6,981,162 
 371,130   *  HealthStream, Inc   8,992,480 
 282,320      Hill-Rom Holdings, Inc   15,084,358 
 175,173   *  ICU Medical, Inc   20,453,199 
 69,620   *  Integra LifeSciences Holdings Corp   5,866,877 
 793,380      Kindred Healthcare, Inc   9,726,839 
 451,480   *  Merit Medical Systems, Inc   10,582,691 
 232,039   *  Natus Medical, Inc   9,126,094 
 277,820   *  NuVasive, Inc   17,280,404 
51

TIAA-CREF FUNDS - Small-Cap Equity Fund

 

SHARES      COMPANY  VALUE 
               
 321,801   *  Omnicell, Inc  $12,447,263 
 624,831   *  OraSure Technologies, Inc   4,261,348 
 260,743   *  PharMerica Corp   6,925,334 
 392,340   *  Premier, Inc   12,829,518 
 201,000   *  Team Health Holdings, Inc   8,208,840 
 187,472   *  Vascular Solutions, Inc   8,599,341 
 90,093   *  WellCare Health Plans, Inc   9,621,932 
 449,600   *  Wright Medical Group NV   9,859,728 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   176,847,408 
               
HOUSEHOLD & PERSONAL PRODUCTS - 0.3%        
 65,680   *  USANA Health Sciences, Inc   9,019,178 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   9,019,178 
               
INSURANCE - 2.1%        
 908,915      American Equity Investment Life Holding Co   14,479,016 
 244,117      Aspen Insurance Holdings Ltd   11,219,617 
 328,044      Employers Holdings, Inc   9,355,815 
 282,089   e  HCI Group, Inc   8,507,804 
 348,260      Selective Insurance Group, Inc   13,637,862 
 404,500   e  Universal Insurance Holdings, Inc   8,793,830 
        TOTAL INSURANCE   65,993,944 
               
MATERIALS - 5.5%        
 252,340   *  Boise Cascade Co   6,856,078 
 221,420      Cabot Corp   10,780,940 
 1,143,910   *,e  Century Aluminum Co   8,682,277 
 496,710   *  Chemtura   13,952,584 
 1,110,370   *,e  Coeur Mining, Inc   17,010,868 
 294,185      Greif, Inc (Class A)   11,805,644 
 601,670   *  Headwaters, Inc   11,967,216 
 340,648   *  Kraton Polymers LLC   10,188,782 
 827,400   *  Louisiana-Pacific Corp   16,713,480 
 242,440      Minerals Technologies, Inc   15,821,634 
 362,500      PolyOne Corp   12,712,875 
 340,815      Schnitzer Steel Industries, Inc (Class A)   6,642,484 
 149,939      Sensient Technologies Corp   11,069,996 
 172,660      Trinseo S.A.   8,596,742 
 340,400   e  United States Steel Corp   9,357,596 
        TOTAL MATERIALS   172,159,196 
               
MEDIA - 1.3%        
 983,994   *  Gray Television, Inc   9,741,540 
 613,090   *  Live Nation, Inc   16,810,928 
 273,700   *  Starz-Liberty Capital   8,273,951 
 432,290      Time, Inc   7,059,296 
        TOTAL MEDIA   41,885,715 
               
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.5%        
 152,300   *  Acorda Therapeutics, Inc   3,850,144 
 460,500   *  Amphastar Pharmaceuticals, Inc   7,450,890 
 1,724,839   *,e  Array Biopharma, Inc   6,450,898 
52

TIAA-CREF FUNDS - Small-Cap Equity Fund

 

SHARES      COMPANY  VALUE 
               
 63,900   *,e  Atara Biotherapeutics, Inc  $1,533,600 
 260,826   *  Cambrex Corp   13,669,891 
 412,410   *  Cepheid, Inc   14,570,445 
 140,700   *  Dermira, Inc   4,721,892 
 252,482   *  Emergent Biosolutions, Inc   8,430,374 
 352,426   *  FibroGen, Inc   6,741,909 
 191,660   *  Five Prime Therapeutics, Inc   9,715,245 
 539,000   *,e  Halozyme Therapeutics, Inc   5,357,660 
 422,323   *  Impax Laboratories, Inc   13,269,389 
 227,863   *  INC Research Holdings, Inc   10,142,182 
 209,600   *  Insmed, Inc   2,399,920 
 44,200   *,e  Kite Pharma, Inc   2,503,046 
 190,348   *  MacroGenics, Inc   5,822,745 
 229,170   *,e  Medicines Co   8,962,839 
 477,289   *,e  Merrimack Pharmaceuticals, Inc   2,768,276 
 268,842   *  Momenta Pharmaceuticals, Inc   3,027,161 
 160,200   *  NewLink Genetics Corp   1,694,916 
 250,000   *,e  Novavax, Inc   1,830,000 
 681,700   *,e  Pacific Biosciences of California, Inc   5,828,535 
 255,790   *  Parexel International Corp   17,099,562 
 252,750      Phibro Animal Health Corp   5,214,232 
 188,067   *  PRA Health Sciences, Inc   8,722,547 
 221,821   *  Prestige Brands Holdings, Inc   11,867,424 
 80,400   *,e  Puma Biotechnology, Inc   4,011,156 
 171,430   *,e  Retrophin, Inc   3,073,740 
 338,154   *  Sagent Pharmaceuticals   7,334,560 
 898,830   *  Spectrum Pharmaceuticals, Inc   6,174,962 
 388,410   *  Sucampo Pharmaceuticals, Inc (Class A)   4,563,818 
 529,906   *  Supernus Pharmaceuticals, Inc   11,774,511 
 112,424   *,e  Ultragenyx Pharmaceutical, Inc   7,114,191 
 390,000   *  Vanda Pharmaceuticals, Inc   4,446,000 
 167,300   *  Xencor Inc   3,168,662 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   235,307,322 
               
REAL ESTATE - 9.5%        
 225,800   *,e  Altisource Portfolio Solutions S.A.   5,252,108 
 276,170      American Assets Trust,Inc   12,670,680 
 148,310      Coresite Realty   12,240,024 
 1,457,512      Cousins Properties, Inc   15,507,928 
 485,274      CubeSmart   14,417,490 
 276,960      DCT Industrial Trust, Inc   13,908,931 
 460,110      DuPont Fabros Technology, Inc   22,007,061 
 382,400      Education Realty Trust, Inc   18,408,736 
 168,480      Entertainment Properties Trust   14,155,690 
 605,250      First Industrial Realty Trust, Inc   17,836,717 
 456,080      Hersha Hospitality Trust   8,619,912 
 1,175,300      Medical Properties Trust, Inc   18,452,210 
 142,028      PS Business Parks, Inc   15,749,485 
 167,400      QTS Realty Trust, Inc   9,583,650 
 556,257      Retail Opportunities Investment Corp   12,699,347 
 656,620      RLJ Lodging Trust   15,588,159 
 123,888      Saul Centers, Inc   8,321,557 
 132,344      Sovran Self Storage, Inc   13,548,055 
53

TIAA-CREF FUNDS - Small-Cap Equity Fund

 

SHARES      COMPANY  VALUE 
               
 333,100      STORE Capital Corp  $10,389,389 
 956,623      Summit Hotel Properties, Inc   13,564,914 
 547,689      Urban Edge Properties   16,381,378 
 346,790      Xenia Hotels & Resorts, Inc   6,228,349 
        TOTAL REAL ESTATE   295,531,770 
               
RETAILING - 4.3%        
 288,800      Caleres, Inc   7,601,216 
 142,200      Cato Corp (Class A)   5,086,494 
 632,840      Chico’s FAS, Inc   7,600,408 
 144,540      Children’s Place Retail Stores, Inc   12,080,653 
 655,100   *  Etsy, Inc   6,590,306 
 464,700      Finish Line, Inc (Class A)   10,097,931 
 449,300   *  Francesca’s Holdings Corp   5,710,603 
 177,690      Group 1 Automotive, Inc   11,073,641 
 494,740   *  Liberty TripAdvisor Holdings, Inc   11,710,496 
 353,820   *  Michaels Cos, Inc   9,326,695 
 255,100      Nutri/System, Inc   7,545,858 
 122,700   *,e  Restoration Hardware Holdings, Inc   3,780,387 
 329,200   *  Sally Beauty Holdings, Inc   9,655,436 
 162,300   *  Shutterfly, Inc   8,632,737 
 878,500      Staples, Inc   8,161,265 
 589,500   e  Tailored Brands, Inc   8,636,175 
        TOTAL RETAILING   133,290,301 
               
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.4%        
 152,141   *  Advanced Energy Industries, Inc   6,195,182 
 1,846,900   *,e  Advanced Micro Devices, Inc   12,669,734 
 162,689      Cabot Microelectronics Corp   8,560,695 
 224,900   *,e  Cavium, Inc   10,496,083 
 702,498   *  Entegris, Inc   12,005,691 
 420,300   *  Inphi Corp   14,786,154 
 528,978   *  Integrated Device Technology, Inc   11,632,226 
 676,021      Intersil Corp (Class A)   10,329,601 
 399,600   *  MaxLinear, Inc   8,715,276 
 237,933      MKS Instruments, Inc   10,868,779 
 456,107   *  Rudolph Technologies, Inc   8,036,605 
 218,857   *  Silicon Laboratories, Inc   11,660,701 
 387,240      Tessera Technologies, Inc   12,445,894 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   138,402,621 
               
SOFTWARE & SERVICES - 8.8%        
 195,580   *  BroadSoft, Inc   8,767,851 
 139,450   *  CACI International, Inc (Class A)   13,293,769 
 251,800   *  Commvault Systems, Inc   13,028,132 
 262,800   *  comScore, Inc   6,819,660 
 314,390      CSRA, Inc   8,463,379 
 150,214   *  EPAM Systems, Inc   10,551,031 
 104,800   *  Euronet Worldwide, Inc   7,992,048 
 754,988   *  Everyday Health, Inc   6,160,702 
 218,071   *  ExlService Holdings, Inc   10,796,695 
 268,380   *  Gigamon, Inc   12,538,714 
 309,014   *  Infoblox, Inc   5,784,742 
54

TIAA-CREF FUNDS - Small-Cap Equity Fund

 

SHARES      COMPANY  VALUE 
               
 788,042   *  Intralinks Holdings, Inc  $5,484,772 
 159,500   *  LogMeIn, Inc   13,702,645 
 220,311      MAXIMUS, Inc   12,980,724 
 55,460   *  MicroStrategy, Inc (Class A)   9,699,399 
 690,150   *  Nuance Communications, Inc   11,090,711 
 550,779   *  Progress Software Corp   16,005,638 
 140,300   *,e  Proofpoint, Inc   10,644,561 
 356,011   *  RealPage, Inc   8,953,677 
 495,186   *  Rubicon Project, Inc   6,992,026 
 284,720      Science Applications International Corp   17,299,587 
 178,414   *  SPS Commerce, Inc   11,297,174 
 110,800   *,e  Stamps.com, Inc   8,399,194 
 231,800   *  Synchronoss Technologies, Inc   8,655,412 
 111,200   *  Tableau Software, Inc   6,283,912 
 720,850      Travelport Worldwide Ltd   9,724,267 
 267,700   *  Verint Systems, Inc   9,441,779 
 369,900   *  Xactly Corp   4,594,158 
        TOTAL SOFTWARE & SERVICES   275,446,359 
               
TECHNOLOGY HARDWARE & EQUIPMENT - 5.9%        
 182,200   *  Anixter International, Inc   11,165,216 
 465,110   *  ARRIS International plc   12,669,597 
 246,880      Belden CDT, Inc   18,074,085 
 242,590   *  Cray, Inc   7,656,140 
 646,680   *  Finisar Corp   12,131,717 
 576,449   *  II-VI, Inc   11,586,625 
 500,334   *,e  Immersion Corp   3,757,508 
 788,768   *  Ixia   9,070,832 
 358,500   *  Lumentum Holdings, Inc   10,844,625 
 292,020   *  NCR Corp   9,627,899 
 223,010   *  Netgear, Inc   11,469,404 
 430,890   *  Netscout Systems, Inc   12,056,302 
 170,000      Plantronics, Inc   8,200,800 
 678,544   *  Sanmina Corp   17,194,305 
 94,810   *  Synaptics, Inc   4,925,380 
 984,684   *  TTM Technologies, Inc   9,797,606 
 180,050   e  Ubiquiti Networks, Inc   8,051,836 
 342,280   *  VeriFone Systems, Inc   6,558,085 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   184,837,962 
               
TELECOMMUNICATION SERVICES - 1.6%        
 980,412   *  8x8, Inc   13,480,665 
 595,958      Inteliquent, Inc   12,246,937 
 385,490      Telephone & Data Systems, Inc   12,139,080 
 2,115,590   *  Vonage Holdings Corp   12,545,449 
        TOTAL TELECOMMUNICATION SERVICES   50,412,131 
               
TRANSPORTATION - 1.8%        
 959,834   *  Air Transport Services Group, Inc   13,898,396 
 330,953   *  Atlas Air Worldwide Holdings, Inc   14,307,098 
 322,060   *  Hub Group, Inc (Class A)   13,185,137 
 311,011      Skywest, Inc   8,947,787 
 469,414   *,e  YRC Worldwide, Inc   5,571,944 
         TOTAL TRANSPORTATION   55,910,362 
55

TIAA-CREF FUNDS - Small-Cap Equity Fund

 

SHARES       COMPANY  VALUE 
               
UTILITIES - 3.3%      
 275,090       Allete, Inc  $17,564,496 
 472,623       Avista Corp   20,559,101 
 61,155       Black Hills Corp   3,855,823 
 119,318       Chesapeake Utilities Corp   7,644,704 
 556,200    *  Dynegy, Inc   8,415,306 
 540,091       NRG Yield, Inc (Class A)   9,278,763 
 224,700       Otter Tail Corp   7,830,795 
 325,400       South Jersey Industries, Inc   10,373,752 
 226,990       Southwest Gas Corp   17,591,725 
         TOTAL UTILITIES   103,114,465 
               
         TOTAL COMMON STOCKS   3,090,494,888 
         (Cost $2,714,789,587)     

 

PRINCIPAL              ISSUER   RATE  MATURITY DATE   
SHORT-TERM INVESTMENTS - 6.2%            
GOVERNMENT AGENCY DEBT - 0.6%            
$18,600,000  d  Federal Home Loan Bank (FHLB)    0.090%  08/01/16   18,600,000 
       TOTAL GOVERNMENT AGENCY DEBT            18,600,000 
                      
TREASURY DEBT - 0.6%            
 17,000,000  d  United States Treasury Bill    0.238   10/06/16   16,992,333 
       TOTAL TREASURY DEBT            16,992,333 
                      
  SHARES            COMPANY              
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 5.0%            
 157,678,811  a,c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		   157,678,811 
       TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   157,678,811 
                      
       TOTAL SHORT-TERM INVESTMENTS            193,271,144 
       (Cost $193,271,393)              
       TOTAL INVESTMENTS - 105.2%            3,283,766,032 
       (Cost $2,908,060,980)              
       OTHER ASSETS & LIABILITIES, NET - (5.2)%            (161,116,694)
       NET ASSETS - 100.0%           $3,122,649,338 
       
       
*   Non-income producing
a   Affiliated holding
c   Investments made with cash collateral received from securities on loan.
d   All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $153,539,198.
l   All or a portion of these securities have been segregated by the custodian to cover collateral requirements on swaps agreements.

56

TIAA-CREF FUNDS - Social Choice Equity Fund

 

TIAA-CREF FUNDS

SOCIAL CHOICE EQUITY FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
               
COMMON STOCKS - 99.7%        
               
AUTOMOBILES & COMPONENTS - 1.7%        
 13,314      BorgWarner, Inc  $441,758 
 16,566      Delphi Automotive plc   1,123,506 
 1,288,424      Ford Motor Co   16,311,448 
 92,177   e  Harley-Davidson, Inc   4,878,007 
 303,890      Johnson Controls, Inc   13,954,629 
 22,556   *  Modine Manufacturing Co   216,538 
 38,837   *,e  Tesla Motors, Inc   9,118,539 
        TOTAL AUTOMOBILES & COMPONENTS   46,044,425 
               
BANKS - 3.8%        
 1,736      1st Source Corp   58,347 
 22,700      Ameris Bancorp   752,732 
 66,983      Apollo Residential Mortgage   908,959 
 2,640      Arrow Financial Corp   83,398 
 20,257      Associated Banc-Corp   376,780 
 4,424      Astoria Financial Corp   64,900 
 15,244      Bank Mutual Corp   116,464 
 6,214      Bank of Hawaii Corp   428,269 
 15,284      Bank of the Ozarks, Inc   550,071 
 3,518      Banner Corp   146,841 
 430,779      BB&T Corp   15,882,822 
 12,593      Berkshire Hills Bancorp, Inc   332,077 
 14,376      Boston Private Financial Holdings, Inc   174,237 
 20,496      Brookline Bancorp, Inc   233,449 
 8,111      Bryn Mawr Bank Corp   237,896 
 2,657      Camden National Corp   115,526 
 16,555      Capital Bank Financial Corp   494,829 
 1,470      Capitol Federal Financial   20,830 
 17,066      Cardinal Financial Corp   439,620 
 690      Cathay General Bancorp   20,686 
 39,308      Centerstate Banks of Florida, Inc   654,871 
 46,146      CIT Group, Inc   1,594,806 
 3,672      City Holding Co   171,482 
 11,338      CoBiz, Inc   140,024 
 440      Columbia Banking System, Inc   13,341 
 65,875      Comerica, Inc   2,980,185 
 279      Commerce Bancshares, Inc   13,194 
 797      Community Bank System, Inc   35,172 
 1,572      Community Trust Bancorp, Inc   54,674 
 3,270   e  Cullen/Frost Bankers, Inc   222,000 
 32,274   *  Customers Bancorp, Inc   830,733 
 3,717      East West Bancorp, Inc   127,196 
 20,125   *  FCB Financial Holdings, Inc   703,771 
 18,820      Federal Agricultural Mortgage Corp (Class C)   723,253 
57

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 5,157      First Bancorp (NC)  $96,539 
 16,895      First Commonwealth Financial Corp   163,037 
 6,744      First Community Bancshares, Inc   154,640 
 2,352      First Financial Corp   90,082 
 11,312      First Interstate Bancsystem, Inc   328,500 
 16,967      First Merchants Corp   444,535 
 574      First Niagara Financial Group, Inc   5,843 
 6,216      Flushing Financial Corp   138,679 
 1,130      FNB Corp   13,504 
 540      Glacier Bancorp, Inc   14,893 
 6,474      Great Southern Bancorp, Inc   253,781 
 1,279      Hancock Holding Co   37,078 
 7,158      Hanmi Financial Corp   175,514 
 13,498      Heartland Financial USA, Inc   495,647 
 21,749      Heritage Financial Corp   379,738 
 9,186   *  HomeStreet, Inc   204,848 
 13,122   *  HomeTrust Bancshares, Inc   241,182 
 2,381   *  Hope Bancorp, Inc   36,596 
 2,618      IBERIABANK Corp   163,546 
 5,708      Investors Bancorp, Inc   64,843 
 653,676      Keycorp   7,648,009 
 14,401      Lakeland Bancorp, Inc   171,516 
 9,021      Lakeland Financial Corp   463,228 
 111,679      M&T Bank Corp   12,793,946 
 17,553   *  MGIC Investment Corp   126,206 
 6,254      National Bank Holdings Corp   125,268 
 310      NBT Bancorp, Inc   9,244 
 60,219      New York Community Bancorp, Inc   870,165 
 22,664      Northfield Bancorp, Inc   338,374 
 11,696      OFG Bancorp   124,095 
 7,838      Old National Bancorp   103,148 
 13,091      Opus Bank   422,577 
 8,836      PacWest Bancorp   365,369 
 4,761      Peoples Bancorp, Inc   106,884 
 982      People’s United Financial, Inc   14,887 
 7,580   *  PHH Corp   110,744 
 6,391      Pinnacle Financial Partners, Inc   339,426 
 211,050      PNC Financial Services Group, Inc   17,443,283 
 48,562      Popular, Inc   1,636,054 
 12,870      PrivateBancorp, Inc   568,854 
 21,071      Provident Financial Services, Inc   424,581 
 187,368      Radian Group, Inc   2,417,047 
 2,803      Republic Bancorp, Inc (Class A)   83,557 
 3,278      S&T Bancorp, Inc   83,556 
 4,235      Southside Bancshares, Inc   129,549 
 6,312      State Bank & Trust Co   138,107 
 12,826      Stock Yards Bancorp, Inc   378,880 
 11,029   *  SVB Financial Group   1,107,532 
 429      TCF Financial Corp   5,830 
 870   *  Texas Capital Bancshares, Inc   42,230 
 17,614   *  The Bancorp, Inc   93,354 
 8,474   e  TowneBank   194,478 
 4,025      Trico Bancshares   104,731 
58

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 9,581   *  Tristate Capital Holdings, Inc  $136,721 
 350      Trustmark Corp   9,135 
 2,167      UMB Financial Corp   120,073 
 650      Umpqua Holdings Corp   9,900 
 6,031      Union Bankshares Corp   161,872 
 1,980   e  United Bankshares, Inc   75,834 
 11,606      United Financial Bancorp, Inc (New)   152,619 
 6,092      Univest Corp of Pennsylvania   128,480 
 513,979      US Bancorp   21,674,494 
 36,406   *  Walker & Dunlop, Inc   861,730 
 6,764   *,e  Walter Investment Management Corp   19,413 
 4,365      Washington Trust Bancorp, Inc   165,695 
 3,230      Webster Financial Corp   116,151 
 1,553      Westamerica Bancorporation   73,053 
 13,557   *  Western Alliance Bancorp   461,345 
 12,624      Wilshire Bancorp, Inc   135,582 
 230      Wintrust Financial Corp   12,144 
 3,911      WSFS Financial Corp   137,628 
 14,360      Zions Bancorporation   400,357 
        TOTAL BANKS   107,043,395 
               
CAPITAL GOODS - 6.2%        
 148,282      3M Co   26,447,577 
 5,778      A.O. Smith Corp   536,718 
 954      Acuity Brands, Inc   250,358 
 8,341   e  Advanced Drainage Systems, Inc   222,788 
 180,779      Ametek, Inc   8,502,036 
 286      Applied Industrial Technologies, Inc   13,428 
 11,569      Argan, Inc   533,678 
 46,198      Barnes Group, Inc   1,752,290 
 419   *  Beacon Roofing Supply, Inc   19,701 
 9,760      Briggs & Stratton Corp   221,845 
 46,759   *  Builders FirstSource, Inc   602,724 
 121,895      Caterpillar, Inc   10,088,030 
 84,493      Cummins, Inc   10,373,206 
 202,777      Danaher Corp   16,514,159 
 132,425      Deere & Co   10,290,747 
 27,134      Dover Corp   1,938,182 
 137,592      Eaton Corp   8,724,709 
 1,365      EMCOR Group, Inc   76,031 
 6,232   *  Esterline Technologies Corp   379,093 
 59,517      Fastenal Co   2,544,352 
 300   e  GATX Corp   13,419 
 7,479      Graco, Inc   553,521 
 245      Granite Construction, Inc   12,196 
 1,410      H&E Equipment Services, Inc   26,254 
 17,572      Hexcel Corp   758,583 
 154,384      Illinois Tool Works, Inc   17,815,914 
 53,624      Ingersoll-Rand plc   3,553,126 
 18,062   *,e  KEYW Holding Corp   184,955 
 7,720      Lincoln Electric Holdings, Inc   479,103 
 185,696      Masco Corp   6,774,190 
 21,542   *  Meritor, Inc   180,522 
59

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 447   *  Middleby Corp  $53,810 
 2,279      MSC Industrial Direct Co (Class A)   163,701 
 3,829   *  MYR Group, Inc   94,461 
 66,007      Owens Corning, Inc   3,492,430 
 115,342      Paccar, Inc   6,801,718 
 13,733      Parker Hannifin Corp   1,568,171 
 41,937      Pentair plc   2,676,419 
 95,785   *,e  Plug Power, Inc   171,455 
 44,063   *  Quanta Services, Inc   1,128,013 
 37,955      Rockwell Automation, Inc   4,342,052 
 27,985      Rockwell Collins, Inc   2,368,091 
 14,759      Roper Industries, Inc   2,514,343 
 2,611   *  Rush Enterprises, Inc (Class A)   60,001 
 1,401      Timken Co   46,864 
 3,116   *,e  Titan Machinery, Inc   34,930 
 45,772   *  TransDigm Group, Inc   12,794,189 
 2,702      Triton International Ltd   45,367 
 15,096   *  United Rentals, Inc   1,202,698 
 5,047   *  Veritiv Corp   213,084 
 1,480   e  W.W. Grainger, Inc   323,898 
 10,000   *  Wabash National Corp   144,800 
 1,355   *,e  WESCO International, Inc   75,528 
 6,028      Woodward Governor Co   352,879 
 4,656      Xylem, Inc   222,603 
        TOTAL CAPITAL GOODS   171,274,940 
               
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%        
 540      ABM Industries, Inc   20,093 
 206,029   *  ACCO Brands Corp   2,315,766 
 3,343      CEB, Inc   200,714 
 112,944   *  Copart, Inc   5,696,895 
 650      Covanta Holding Corp   10,413 
 7,924      Deluxe Corp   535,583 
 32,884      Dun & Bradstreet Corp   4,250,257 
 38,728      Equifax, Inc   5,129,911 
 290      Essendant, Inc   5,812 
 18,325      Exponent, Inc   931,093 
 4,282      Heidrick & Struggles International, Inc   83,328 
 5,092      HNI Corp   265,446 
 6,346      Insperity, Inc   498,098 
 5,010      Interface, Inc   89,479 
 1,760      Kelly Services, Inc (Class A)   36,027 
 5,758      Kimball International, Inc (Class B)   65,584 
 590      Knoll, Inc   14,897 
 10,228      Manpower, Inc   709,823 
 3,562   *  Mistras Group, Inc   89,264 
 430      Mobile Mini, Inc   13,979 
 8,831   *  Navigant Consulting, Inc   174,059 
 970   *  On Assignment, Inc   35,841 
 45,468      R.R. Donnelley & Sons Co   814,787 
 6,963      Resources Connection, Inc   103,749 
 61,470      Robert Half International, Inc   2,246,114 
 4,160   *  RPX Corp   41,891 
60

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 1,210      Steelcase, Inc (Class A)  $17,545 
 5,080   *,e  Team, Inc   140,259 
 10,180      Tetra Tech, Inc   335,227 
 2,825   *  TriNet Group, Inc   61,274 
 11,278      Viad Corp   392,700 
 40,482      Waste Management, Inc   2,676,670 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   28,002,578 
               
CONSUMER DURABLES & APPAREL - 1.3%        
 5,202      CalAtlantic Group, Inc   188,365 
 13,930      Callaway Golf Co   149,051 
 396      Columbia Sportswear Co   22,671 
 1,530      CSS Industries, Inc   40,254 
 490      Ethan Allen Interiors, Inc   17,018 
 53,158      Hanesbrands, Inc   1,417,192 
 258      Hasbro, Inc   20,957 
 2,202   *  Helen of Troy Ltd   219,341 
 22,739   *  Kate Spade & Co   493,209 
 202,478      Mattel, Inc   6,758,716 
 7,028   *  Meritage Homes Corp   255,749 
 595   *  Michael Kors Holdings Ltd   30,774 
 3,220   *  Mohawk Industries, Inc   672,787 
 6,980      Movado Group, Inc   157,678 
 5,166      Newell Brands, Inc   271,008 
 350,244      Nike, Inc (Class B)   19,438,542 
 1,614      Phillips-Van Heusen Corp   163,111 
 397      Pool Corp   40,605 
 399   *,e  Tempur Sealy International, Inc   30,176 
 42,583   *,e  Under Armour, Inc (Class A)   1,680,325 
 4,706   *  Unifi, Inc   127,203 
 54,516      VF Corp   3,403,434 
 587      Weyco Group, Inc   16,401 
 3,389      Whirlpool Corp   651,908 
        TOTAL CONSUMER DURABLES & APPAREL   36,266,475 
               
CONSUMER SERVICES - 2.6%        
 1,289      Bob Evans Farms, Inc   47,409 
 4,297   *  Bright Horizons Family Solutions   288,200 
 7,805      Brinker International, Inc   367,928 
 8,508      Carriage Services, Inc   206,829 
 31,413      Choice Hotels International, Inc   1,516,934 
 33,819      Darden Restaurants, Inc   2,081,898 
 320      DineEquity, Inc   26,038 
 1,850      Dunkin Brands Group, Inc   83,824 
 23,836      Interval Leisure Group, Inc   428,571 
 359      Jack in the Box, Inc   31,732 
 149,371      Marriott International, Inc (Class A)   10,709,901 
 215,087      McDonald’s Corp   25,304,986 
 16,650   *  Popeyes Louisiana Kitchen, Inc   953,712 
 15,819      Royal Caribbean Cruises Ltd   1,145,928 
 38,369      Service Corp International   1,063,589 
 25,999   *  ServiceMaster Global Holdings, Inc   983,542 
 9,766      Sonic Corp   262,803 
61

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 403,343      Starbucks Corp  $23,414,061 
 55,313      Starwood Hotels & Resorts Worldwide, Inc   4,317,733 
 190      Vail Resorts, Inc   27,183 
        TOTAL CONSUMER SERVICES   73,262,801 
               
DIVERSIFIED FINANCIALS - 6.0%        
 52,376      Ally Financial, Inc   944,863 
 270,048      American Express Co   17,407,294 
 1,075      Ameriprise Financial, Inc   103,028 
 437,091      Bank of New York Mellon Corp   17,221,385 
 49,451      BlackRock, Inc   18,111,429 
 430      CBOE Holdings, Inc   29,584 
 518,083      Charles Schwab Corp   14,723,919 
 124,077      CME Group, Inc   12,685,632 
 280      Cohen & Steers, Inc   12,068 
 5,881   *,e  Credit Acceptance Corp   1,062,520 
 241,166      Discover Financial Services   13,707,875 
 2,390      Factset Research Systems, Inc   410,984 
 191,250      Franklin Resources, Inc   6,921,338 
 9,333   *  Green Dot Corp   225,859 
 53,137      IntercontinentalExchange Group, Inc   14,038,795 
 203,789      Invesco Ltd   5,946,563 
 23,497      Janus Capital Group, Inc   354,805 
 24,238      Legg Mason, Inc   827,485 
 29,667      NASDAQ OMX Group, Inc   2,099,237 
 12,294      Nelnet, Inc (Class A)   496,801 
 199,140      Northern Trust Corp   13,459,873 
 4,106   *  Pico Holdings, Inc   41,388 
 31,538      S&P Global, Inc   3,853,944 
 3,216   *  Safeguard Scientifics, Inc   41,551 
 185,701      State Street Corp   12,215,412 
 113,676      T Rowe Price Group, Inc   8,035,756 
 3,000      TD Ameritrade Holding Corp   91,080 
 25,591      Voya Financial, Inc   655,897 
 19,340   e  WisdomTree Investments, Inc   192,240 
        TOTAL DIVERSIFIED FINANCIALS   165,918,605 
               
ENERGY - 6.5%        
 130,417      Apache Corp   6,846,892 
 1,665      Archrock, Inc   14,835 
 21,951   e  Atwood Oceanics, Inc   234,437 
 89,631      Baker Hughes, Inc   4,287,051 
 93,320   *  Callon Petroleum Co   1,062,915 
 2,638   e  CARBO Ceramics, Inc   37,196 
 78,257   *  Cheniere Energy, Inc   3,273,490 
 37,587      Cimarex Energy Co   4,511,192 
 97,571   *  Clean Energy Fuels Corp   291,737 
 10,655   *  Concho Resources, Inc   1,323,351 
 185,845      ConocoPhillips   7,586,193 
 106,343   *,e  Continental Resources, Inc   4,684,409 
 2,470      Delek US Holdings, Inc   30,924 
 142,795   *  Devon Energy Corp   5,466,193 
 1,150      Energen Corp   54,487 
62

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 194,192      EOG Resources, Inc  $15,865,486 
 35,229      EQT Corp   2,566,785 
 16,785   *  Exterran Corp   213,505 
 3,777   *  FMC Technologies, Inc   95,860 
 6,722      Green Plains Renewable Energy, Inc   152,455 
 140,849      Hess Corp   7,556,549 
 300,398      Kinder Morgan, Inc   6,107,091 
 234,465      Marathon Oil Corp   3,198,103 
 198,607      Marathon Petroleum Corp   7,823,130 
 14,654   *  Matrix Service Co   242,817 
 184,819      National Oilwell Varco, Inc   5,978,895 
 10,506   *  Natural Gas Services Group, Inc   263,806 
 58,596   *  Newpark Resources, Inc   370,327 
 125,112      Noble Energy, Inc   4,469,001 
 3,520   *  Oasis Petroleum, Inc   26,752 
 208,138      Occidental Petroleum Corp   15,554,153 
 458      Oceaneering International, Inc   12,769 
 422   *  Oil States International, Inc   13,048 
 45,345      Oneok, Inc   2,031,003 
 54,820   *  Parker Drilling Co   113,477 
 8,658   *  PDC Energy, Inc   474,199 
 173,433      Phillips 66   13,191,314 
 57,667      Pioneer Natural Resources Co   9,374,924 
 1,928      Range Resources Corp   77,718 
 31,821   *  Renewable Energy Group, Inc   310,255 
 2,148   *  RigNet, Inc   25,669 
 92,093      Rowan Cos plc   1,403,497 
 176,470      Schlumberger Ltd   14,209,364 
 79   *  SEACOR Holdings, Inc   4,465 
 26,088   e  SM Energy Co   707,767 
 15,048   *,e  Southwestern Energy Co   219,400 
 336,489      Spectra Energy Corp   12,103,509 
 31,883      Superior Energy Services   509,172 
 6,235      Tesco Corp   41,213 
 16,701      Tesoro Corp   1,271,781 
 14,184   *  Tetra Technologies, Inc   85,246 
 13,893   *  Unit Corp   173,662 
 2,713      US Silica Holdings Inc   93,517 
 90,816      Valero Energy Corp   4,747,860 
 394,624   *  Weatherford International Ltd   2,241,464 
 66,832      Western Refining, Inc   1,393,447 
 183,839      Williams Cos, Inc   4,406,621 
        TOTAL ENERGY   179,426,378 
               
FOOD & STAPLES RETAILING - 0.2%        
 23,088      Casey’s General Stores, Inc   3,083,171 
 5,390   *,e  Natural Grocers by Vitamin C   73,789 
 970      Pricesmart, Inc   75,544 
 4,686      Spartan Stores, Inc   147,609 
 580      Weis Markets, Inc   29,969 
 71,214      Whole Foods Market, Inc   2,170,603 
        TOTAL FOOD & STAPLES RETAILING   5,580,685 
63

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
FOOD, BEVERAGE & TOBACCO - 5.3%        
 8,587      Bunge Ltd  $565,368 
 95,721      Campbell Soup Co   5,960,547 
 523,116      Coca-Cola Co   22,823,551 
 5,840   *  Darling International, Inc   92,155 
 27,105      Dr Pepper Snapple Group, Inc   2,670,114 
 4,635      Flowers Foods, Inc   85,238 
 260,480      General Mills, Inc   18,725,907 
 3,800   *  Hain Celestial Group, Inc   200,602 
 70,402      Hormel Foods Corp   2,629,515 
 189,600      Kellogg Co   15,681,816 
 225,742      Kraft Heinz Co   19,501,851 
 4,569   *  Landec Corp   52,544 
 6,572      McCormick & Co, Inc   671,987 
 27,407      Mead Johnson Nutrition Co   2,444,704 
 472,835      Mondelez International, Inc   20,795,283 
 48,820   *  Omega Protein Corp   1,099,426 
 302,329      PepsiCo, Inc   32,929,675 
 3,091   *  Seneca Foods Corp   121,074 
 674   *  TreeHouse Foods, Inc   69,550 
        TOTAL FOOD, BEVERAGE & TOBACCO   147,120,907 
               
HEALTH CARE EQUIPMENT & SERVICES - 4.2%        
 4,035      Abaxis, Inc   199,571 
 4,025   *  Abiomed, Inc   474,829 
 14,457   *,e  Acadia Healthcare Co, Inc   816,821 
 589      Aceto Corp   15,143 
 7,035   *,e  Air Methods Corp   234,195 
 22,387   *  Alere, Inc   839,513 
 8,979   *  Align Technology, Inc   800,478 
 35,952   *  Amedisys, Inc   1,925,230 
 87,979      AmerisourceBergen Corp   7,494,931 
 21,087   *  AMN Healthcare Services, Inc   891,980 
 9,057   *  Amsurg Corp   679,366 
 5,424      Analogic Corp   455,725 
 4,439   *  Angiodynamics, Inc   73,643 
 82,164      Anthem, Inc   10,791,420 
 43,806   *,e  athenahealth, Inc   5,597,969 
 18,911   *  AtriCure, Inc   287,258 
 102,047      Becton Dickinson & Co   17,960,272 
 30,852   *  Brookdale Senior Living, Inc   569,836 
 20,471   *  Capital Senior Living Corp   398,775 
 142,328      Cardinal Health, Inc   11,898,621 
 42,468   *  Centene Corp   2,996,117 
 54,341   *,e  Cerus Corp   401,580 
 3,151      Chemed Corp   463,638 
 109,013      Cigna Corp   14,058,317 
 8,003   e  Computer Programs & Systems, Inc   317,239 
 4,329   *  Corvel Corp   195,671 
 1,063      DENTSPLY SIRONA, Inc   68,075 
 1,590   *,e  Diplomat Pharmacy, Inc   57,129 
 67,794   *  Edwards Lifesciences Corp   7,763,769 
 14,577   *  Envision Healthcare Holdings, Inc   358,448 
64

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 26,220   *,e  GenMark Diagnostics, Inc  $279,243 
 300   *  Haemonetics Corp   9,096 
 3,802   *  HealthStream, Inc   92,122 
 20,417   *  Healthways, Inc   343,822 
 3,584   *  Henry Schein, Inc   648,632 
 2,640   *  HMS Holdings Corp   52,483 
 43,174   *  Hologic, Inc   1,661,767 
 51,511      Humana, Inc   8,888,223 
 1,539   *  Integer Holding Corp   34,181 
 18,008   *  Laboratory Corp of America Holdings   2,513,197 
 5,385      Landauer, Inc   224,662 
 15,190   *  LHC Group, Inc   687,499 
 21,680   *  LifePoint Hospitals, Inc   1,283,022 
 4,952   *  Magellan Health Services, Inc   339,063 
 9,720   *  Medidata Solutions, Inc   516,618 
 26,417   *  Merit Medical Systems, Inc   619,215 
 20,380   *  Molina Healthcare, Inc   1,157,788 
 11,035   *  NxStage Medical, Inc   243,984 
 25,565   *  Omnicell, Inc   988,854 
 37,310   *  OraSure Technologies, Inc   254,454 
 10,906      Patterson Cos, Inc   538,320 
 21,433   *  PharMerica Corp   569,261 
 1,887   *  Premier, Inc   61,705 
 14,487   *  Providence Service Corp   700,736 
 1,816      Quality Systems, Inc   22,301 
 5,122   *  Quidel Corp   116,782 
 25,215      Resmed, Inc   1,736,809 
 14,148   *  Select Medical Holdings Corp   162,702 
 7,472   *  Spectranetics Corp   173,201 
 9,466   *  Staar Surgical Co   64,747 
 8,077   *  Surgical Care Affiliates, Inc   420,085 
 29,905   *  Triple-S Management Corp (Class B)   743,139 
 17,940      Universal American Corp   137,420 
 8,920      US Physical Therapy, Inc   531,810 
 500   *  Varian Medical Systems, Inc   47,370 
 12,420   *  Vascular Solutions, Inc   569,705 
 14,899   *  VCA Antech, Inc   1,062,895 
 18,508   *  Vocera Communications, Inc   273,733 
 6,388   *  Wright Medical Group NV   140,089 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   117,996,294 
               
HOUSEHOLD & PERSONAL PRODUCTS - 2.6%        
 2,378      Clorox Co   311,684 
 263,164      Colgate-Palmolive Co   19,587,297 
 51,678      Estee Lauder Cos (Class A)   4,800,886 
 40,204      Kimberly-Clark Corp   5,208,428 
 11,539      Medifast, Inc   406,404 
 14,945   e  Natural Health Trends Corp   502,003 
 475,958      Procter & Gamble Co   40,737,245 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   71,553,947 
65

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
INSURANCE - 3.6%        
 234,797      Aflac, Inc  $16,971,127 
 5,145      Arthur J. Gallagher & Co   253,083 
 32,636      Aspen Insurance Holdings Ltd   1,499,951 
 8,868      Axis Capital Holdings Ltd   492,883 
 157,312      Chubb Ltd   19,704,901 
 476      Employers Holdings, Inc   13,576 
 290   *  Enstar Group Ltd   48,311 
 3,280      First American Financial Corp   137,137 
 111,278      Hartford Financial Services Group, Inc   4,434,428 
 400      Kemper Corp   13,708 
 26,627      Loews Corp   1,100,494 
 98,755      Marsh & McLennan Cos, Inc   6,493,141 
 117,053      Principal Financial Group   5,458,181 
 273,774      Progressive Corp   8,900,393 
 192,025      Prudential Financial, Inc   14,457,562 
 200      Reinsurance Group of America, Inc (Class A)   19,850 
 10,711      RenaissanceRe Holdings Ltd   1,258,757 
 13,769      Stewart Information Services Corp   589,451 
 146,087      Travelers Cos, Inc   16,978,231 
        TOTAL INSURANCE   98,825,165 
               
MATERIALS - 3.9%        
 113,747      Air Products & Chemicals, Inc   16,996,077 
 3,402      Albemarle Corp   286,346 
 7,701      Aptargroup, Inc   602,064 
 66,813      Avery Dennison Corp   5,204,064 
 23,667      Ball Corp   1,672,547 
 791      Bemis Co, Inc   40,373 
 2,310      Carpenter Technology Corp   90,667 
 17,130      Celanese Corp (Series A)   1,086,385 
 31,721   *  Century Aluminum Co   240,762 
 1,826   *  Clearwater Paper Corp   114,874 
 46,693      Commercial Metals Co   772,302 
 4,705   e  Compass Minerals International, Inc   327,421 
 14,217      Eastman Chemical Co   927,375 
 134,228      Ecolab, Inc   15,889,911 
 2,950   *  Ferro Corp   38,232 
 12,034   *,e  Flotek Industries, Inc   170,883 
 26,314      H.B. Fuller Co   1,225,180 
 1,039      Hawkins, Inc   44,407 
 7,648      Innophos Holdings, Inc   329,323 
 3,111      International Flavors & Fragrances, Inc   414,541 
 99,782      International Paper Co   4,571,013 
 510   *  Kraton Polymers LLC   15,254 
 63,130   *  Louisiana-Pacific Corp   1,275,226 
 141,588      LyondellBasell Industries AF S.C.A   10,655,913 
 14,012      Minerals Technologies, Inc   914,423 
 45,313      Mosaic Co   1,223,451 
 420      Neenah Paper, Inc   31,681 
 214,304      Nucor Corp   11,495,266 
 3,500      PolyOne Corp   122,745 
 7,823      PPG Industries, Inc   819,146 
 126,084      Praxair, Inc   14,693,829 
 274      Quaker Chemical Corp   26,211 
66

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 2,337      Reliance Steel & Aluminum Co  $183,314 
 55,648      Royal Gold, Inc   4,704,482 
 4,126      Schnitzer Steel Industries, Inc (Class A)   80,416 
 6,530      Sealed Air Corp   308,085 
 15,560      Sherwin-Williams Co   4,663,799 
 840      Stepan Co   54,020 
 28,446   *  Stillwater Mining Co   435,224 
 20,918      Trinseo S.A.   1,041,507 
 17,594   *  US Concrete, Inc   1,134,813 
 67,182      WestRock Co   2,882,780 
 45,328   *  Worthington Industries, Inc   2,008,484 
        TOTAL MATERIALS   109,814,816 
               
MEDIA - 3.0%        
 80,713   *  Charter Communications, Inc   18,957,062 
 8,053      Cinemark Holdings, Inc   302,793 
 54,300      Clear Channel Outdoor Holdings, Inc (Class A)   379,557 
 146,657   *  Discovery Communications, Inc (Class A)   3,679,624 
 197,556   *  Discovery Communications, Inc (Class C)   4,848,024 
 19,509   *  DreamWorks Animation SKG, Inc (Class A)   799,284 
 17,913      Entercom Communications Corp (Class A)   261,709 
 77,937      Entravision Communications Corp (Class A)   565,823 
 3,930   *  Gray Television, Inc   38,907 
 2,205      John Wiley & Sons, Inc (Class A)   127,228 
 15,223   *  Liberty Broadband Corp (Class A)   956,157 
 21,053   *  Media General, Inc   370,322 
 85,700      New York Times Co (Class A)   1,112,386 
 320      Scholastic Corp   13,152 
 5,846      Scripps Networks Interactive (Class A)   386,187 
 23,476      Sinclair Broadcast Group, Inc (Class A)   653,102 
 249,678      Time Warner, Inc   19,137,819 
 333,894      Walt Disney Co   32,037,129 
        TOTAL MEDIA   84,626,265 
               
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 10.4%        
 29,858   *,e  Acadia Pharmaceuticals, Inc   1,105,940 
 150,551      Agilent Technologies, Inc   7,243,009 
 82,270   *  Akorn, Inc   2,816,102 
 55,485   *  Alexion Pharmaceuticals, Inc   7,135,371 
 166,755      Amgen, Inc   28,686,863 
 52,762   *,e  Ariad Pharmaceuticals, Inc   501,767 
 57,235   *  Biogen Idec, Inc   16,594,144 
 38,322   *  BioMarin Pharmaceutical, Inc   3,809,973 
 16,269   *,e  Bluebird Bio, Inc   930,261 
 388,039      Bristol-Myers Squibb Co   29,029,198 
 39,257   *  Cambrex Corp   2,057,459 
 179,391   *  Celgene Corp   20,125,876 
 22,795   *,e  Cempra, Inc   409,626 
 21,898   *  Cepheid, Inc   773,656 
 69,018   *,e  Depomed, Inc   1,309,271 
 5,043   *,e  Fluidigm Corp   53,204 
 292,643      Gilead Sciences, Inc   23,256,339 
 17,165   *,e  Immunomedics, Inc   45,487 
67

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 42,863   *,e  Inovio Pharmaceuticals, Inc  $423,486 
 18,561   *  Intersect ENT, Inc   294,006 
 18,809   *,e  Intra-Cellular Therapies, Inc   767,407 
 21,127   *,e  Ionis Pharmaceuticals, Inc   616,697 
 13,244   *  Ironwood Pharmaceuticals, Inc   187,138 
 446,807      Johnson & Johnson   55,953,641 
 14,627   *,e  Kite Pharma, Inc   828,327 
 575,446      Merck & Co, Inc   33,755,662 
 870   *  Mettler-Toledo International, Inc   357,753 
 42,183   *,e  MiMedx Group, Inc   315,951 
 91,708   *  Nektar Therapeutics   1,585,631 
 89,462   *,e  Opko Health, Inc   890,147 
 4,875      PerkinElmer, Inc   277,485 
 57,915   *  Prestige Brands Holdings, Inc   3,098,453 
 22,411   *,e  Prothena Corp plc   1,233,726 
 9,644   *  Quintiles Transnational Holdings, Inc   748,760 
 19,457   *  Relypsa, Inc   621,457 
 47,907   *,e  Sangamo Biosciences, Inc   303,251 
 46,751   *,e  Sarepta Therapeutics, Inc   1,181,865 
 43,938   *  Sucampo Pharmaceuticals, Inc (Class A)   516,272 
 3,836   *,e  TESARO, Inc   357,669 
 131,438      Thermo Electron Corp   20,877,612 
 69,864   *  Vertex Pharmaceuticals, Inc   6,776,808 
 23,584   *  Waters Corp   3,748,205 
 167,218      Zoetis Inc   8,439,492 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   290,040,447 
               
REAL ESTATE - 5.0%        
 27,911   *,e  Altisource Portfolio Solutions S.A.   649,210 
 8,135      American Campus Communities, Inc   439,859 
 168,470      American Tower Corp   19,503,772 
 616,689      Annaly Capital Management, Inc   6,771,245 
 50,428      Apollo Commercial Real Estate Finance, Inc   819,455 
 1,000      AvalonBay Communities, Inc   185,650 
 48,024      Boston Properties, Inc   6,825,651 
 78,489   *  CBRE Group, Inc   2,233,012 
 17,160      Coresite Realty   1,416,215 
 138,457      Crown Castle International Corp   13,434,483 
 2,518   e  Digital Realty Trust, Inc   263,030 
 8,358      Douglas Emmett, Inc   317,938 
 58,576      Duke Realty Corp   1,686,403 
 19,736      Dynex Capital, Inc   138,547 
 4,378      Easterly Government Properties, Inc   89,705 
 22,025      Equinix, Inc   8,212,462 
 515      Equity One, Inc   17,134 
 73,501      Equity Residential   4,997,333 
 3,961      Federal Realty Investment Trust   672,182 
 33,420      First Industrial Realty Trust, Inc   984,887 
 1,693      Forest City Realty Trust, Inc   40,039 
 540      Franklin Street Properties Corp   6,923 
 219,210      HCP, Inc   8,599,608 
 4,940      Healthcare Realty Trust, Inc   178,630 
 290,281      Host Marriott Corp   5,149,585 
68

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 4,700      Invesco Mortgage Capital, Inc  $67,680 
 50,982      Iron Mountain, Inc   2,100,968 
 19,343   *  iStar Financial, Inc   200,394 
 8      Jones Lang LaSalle, Inc   876 
 266      Kilroy Realty Corp   19,474 
 15,135      Liberty Property Trust   626,286 
 20,078      Macerich Co   1,791,761 
 540      Piedmont Office Realty Trust, Inc   11,848 
 3,580      Post Properties, Inc   227,652 
 211,234      Prologis, Inc   11,510,141 
 140      PS Business Parks, Inc   15,525 
 17,758      Resource Capital Corp   241,686 
 2,009      RMR Group, Inc   68,396 
 34,457      Ryman Hospitality Properties   1,937,862 
 99,178      Simon Property Group, Inc   22,517,373 
 500      UDR, Inc   18,615 
 39,642      Ventas, Inc   3,019,135 
 55,605      Vornado Realty Trust   5,971,977 
 297      Washington REIT   10,184 
 75,037      Welltower, Inc   5,952,685 
 14,848      Weyerhaeuser Co   485,827 
        TOTAL REAL ESTATE   140,429,303 
               
RETAILING - 3.8%        
 43,282   *  1-800-FLOWERS.COM, Inc (Class A)   395,165 
 2,432      Aaron’s, Inc   58,246 
 50,729   e  American Eagle Outfitters, Inc   909,064 
 15,901   *  AutoZone, Inc   12,942,937 
 79,998   *  Bed Bath & Beyond, Inc   3,595,910 
 53,182      Best Buy Co, Inc   1,786,915 
 13,087      Big 5 Sporting Goods Corp   138,199 
 12,445      Blue Nile, Inc   361,652 
 250   e  Buckle, Inc   6,847 
 2,688   *  Cabela’s, Inc   138,781 
 37,531   *,e  Carmax, Inc   2,186,556 
 9      Chico’s FAS, Inc   108 
 31,608      Dollar General Corp   2,994,542 
 13,497      DSW, Inc (Class A)   327,437 
 1,820      Finish Line, Inc (Class A)   39,549 
 7,586   *  Francesca’s Holdings Corp   96,418 
 19,597   *  FTD Cos, Inc   496,000 
 204,445   e  Gap, Inc   5,272,637 
 8,830      GNC Holdings, Inc   180,220 
 306,034   *  Groupon, Inc   1,475,084 
 18,815      Haverty Furniture Cos, Inc   346,760 
 11,044      HSN, Inc   565,011 
 15,620      Kirkland’s, Inc   238,049 
 93,965      Kohl’s Corp   3,908,004 
 15,394   *,e  Lands’ End, Inc   218,749 
 7,610   *  LKQ Corp   261,708 
 273,974      Lowe’s Companies, Inc   22,542,581 
 4,455   *  MarineMax, Inc   89,991 
 168,389   *  NetFlix, Inc   15,365,496 
69

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 26,766   e  Nordstrom, Inc  $1,183,860 
 17,354      Nutri/System, Inc   513,331 
 96,086   *  Office Depot, Inc   332,458 
 2,957      Outerwall, Inc   155,716 
 11,877   *  Overstock.com, Inc   193,595 
 22,310   e  PetMed Express, Inc   462,486 
 12,005   e  Pier 1 Imports, Inc   61,466 
 141,284      Ross Stores, Inc   8,735,590 
 5,448   *  Sally Beauty Holdings, Inc   159,790 
 12,547      Shoe Carnival, Inc   330,112 
 38,323   *  Shutterfly, Inc   2,038,400 
 51,473   e  Stage Stores, Inc   305,235 
 226,633      Staples, Inc   2,105,421 
 23,591      Stein Mart, Inc   202,883 
 6,435   e  Tiffany & Co   415,186 
 15,754      Tractor Supply Co   1,443,854 
 17,401   *  Ulta Salon Cosmetics & Fragrance, Inc   4,545,315 
 17,585   *  Vitamin Shoppe, Inc   514,537 
 84,326   *,e  Wayfair, Inc   3,668,181 
 5      Williams-Sonoma, Inc   270 
 860      Winmark Corp   86,490 
        TOTAL RETAILING   104,392,792 
               
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.2%        
 25,961   *,e  Advanced Micro Devices, Inc   178,093 
 43,692      Analog Devices, Inc   2,788,860 
 644,987      Applied Materials, Inc   16,956,708 
 11,151   *  Cirrus Logic, Inc   541,827 
 24,001   *  Integrated Device Technology, Inc   527,782 
 913,426      Intel Corp   31,842,031 
 8,578      Lam Research Corp   770,047 
 116,799      Nvidia Corp   6,669,223 
 217,373   *  ON Semiconductor Corp   2,180,251 
 43,222      Skyworks Solutions, Inc   2,853,517 
 35,399   *,e  SunPower Corp   516,117 
 314,952      Texas Instruments, Inc   21,967,902 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   87,792,358 
               
SOFTWARE & SERVICES - 13.9%        
 189,040      Accenture plc   21,325,603 
 25,826   *  Actua Corp   257,744 
 44,460   *  Alphabet, Inc (Class A)   35,182,976 
 45,787   *  Alphabet, Inc (Class C)   35,200,588 
 53,423   *,e  Angie’s List, Inc   432,192 
 687   *  Aspen Technology, Inc   28,778 
 78,354   *  Autodesk, Inc   4,658,145 
 114,577      Automatic Data Processing, Inc   10,191,624 
 39,970      Blackbaud, Inc   2,671,995 
 194,356      CA, Inc   6,734,435 
 2,010   *  Cimpress NV   190,548 
 16,964   *  Citrix Systems, Inc   1,512,001 
 265,272   *  Cognizant Technology Solutions Corp (Class A)   15,250,487 
 34,741   *  comScore, Inc   901,529 
70

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 5,337      Convergys Corp  $142,231 
 18,210      CSG Systems International, Inc   733,135 
 6,960   *  DHI Group, Inc   50,738 
 21,148   *  Ellie Mae, Inc   1,947,942 
 6,786   *  ExlService Holdings, Inc   335,975 
 5,777      Fair Isaac Corp   731,599 
 128,323   *,e  Glu Mobile, Inc   300,276 
 10,911   *  inContact, Inc   151,663 
 10,181   *  Infoblox, Inc   190,588 
 192,115      International Business Machines Corp   30,857,511 
 146,445      Intuit, Inc   16,253,931 
 56,238      j2 Global, Inc   3,758,948 
 14,246      Jack Henry & Associates, Inc   1,271,456 
 23,371   *  LogMeIn, Inc   2,007,803 
 35,770   *  Manhattan Associates, Inc   2,076,449 
 44,849   *  Marketo, Inc   1,577,788 
 258,322      MasterCard, Inc (Class A)   24,602,587 
 1,022,212      Microsoft Corp   57,938,976 
 233,110   *  Monster Worldwide, Inc   589,768 
 10,078   *,e  NeuStar, Inc (Class A)   253,865 
 20,573   *  New Relic, Inc   708,534 
 692,438      Oracle Corp   28,417,656 
 29,033   *  Perficient, Inc   645,113 
 16,107   *  QLIK Technologies, Inc   486,431 
 27,258   *  Qualys, Inc   855,629 
 80,699   *,e  Quotient Technology, Inc   1,021,649 
 5,925   *  Rackspace Hosting, Inc   138,823 
 44,082   *  RetailMeNot, Inc   368,085 
 24,564   *  RingCentral, Inc   565,709 
 2,916   *  Rovi Corp   54,850 
 242,063   *  Salesforce.com, Inc   19,800,753 
 96,222   *  ServiceSource International LLC   434,923 
 19,678   *  SPS Commerce, Inc   1,246,011 
 24,141   *  Sykes Enterprises, Inc   740,887 
 391,408      Symantec Corp   7,996,465 
 3,876   *  Syntel, Inc   175,622 
 6,951   *  Tangoe, Inc   56,234 
 8,168   *  Teradata Corp   231,808 
 21,915   *  Tyler Technologies, Inc   3,572,583 
 9,913   *  Ultimate Software Group, Inc   2,072,808 
 4,890   *,e  Unisys Corp   48,460 
 5,290   *,e  Vasco Data Security International   88,396 
 51,056   *  Website Pros, Inc   962,916 
 85,455   *  Workday, Inc   7,121,820 
 1,051,874      Xerox Corp   10,834,302 
 459,974   *  Yahoo!, Inc   17,566,407 
        TOTAL SOFTWARE & SERVICES   386,524,748 
               
TECHNOLOGY HARDWARE & EQUIPMENT - 3.4%        
 1,610      Adtran, Inc   29,302 
 11,247   *,e  Arista Networks, Inc   801,574 
 1,070      Belden CDT, Inc   78,335 
 1,524   *  Benchmark Electronics, Inc   35,723 
71

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES      COMPANY  VALUE 
               
 7,451   *  Calix, Inc  $57,522 
 1,064,563      Cisco Systems, Inc   32,501,108 
 3,629      Cognex Corp   163,922 
 180   *  Coherent, Inc   19,089 
 141,705      Corning, Inc   3,148,685 
 49,456   *  Cray, Inc   1,560,831 
 6,785      Daktronics, Inc   43,899 
 2,946      Electro Rent Corp   45,575 
 662,685      EMC Corp   18,740,732 
 3,097   *  FARO Technologies, Inc   108,023 
 1,110      FEI Co   118,126 
 40,091   *  Finisar Corp   752,107 
 513,508      Hewlett Packard Enterprise Co   10,793,938 
 645,011      HP, Inc   9,036,604 
 107,460      Ingram Micro, Inc (Class A)   3,679,430 
 2,970   *  Insight Enterprises, Inc   79,002 
 5,777      InterDigital, Inc   341,132 
 11,694   *  IPG Photonics Corp   985,687 
 350   *  Itron, Inc   14,942 
 16,051      Jabil Circuit, Inc   326,638 
 20,384      Lexmark International, Inc (Class A)   747,481 
 212      Littelfuse, Inc   26,504 
 6,814      Methode Electronics, Inc   238,694 
 78,575      Motorola, Inc   5,451,534 
 417      National Instruments Corp   11,960 
 18,944   *  Netgear, Inc   974,290 
 3,309   *  Novanta, Inc   51,984 
 500   *  OSI Systems, Inc   29,735 
 281   *  Plexus Corp   12,909 
 55,004   *  QLogic Corp   853,662 
 610   *  Rofin-Sinar Technologies, Inc   19,276 
 12,991   *  Scansource, Inc   533,021 
 27,291   *  Sonus Networks, Inc   235,248 
 22,364   *  Super Micro Computer, Inc   481,944 
 502      SYNNEX Corp   50,466 
 11,298   *  Tech Data Corp   880,453 
 3,218   *  TTM Technologies, Inc   32,019 
 12,928   *  Universal Display Corp   915,820 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   95,008,926 
               
TELECOMMUNICATION SERVICES - 2.2%        
 35,353   *  Boingo Wireless, Inc   323,834 
 373,371      CenturyTel, Inc   11,738,784 
 58,198   *  Cincinnati Bell, Inc   290,990 
 2,650      Consolidated Communications Holdings, Inc   74,068 
 3,579   *  Fairpoint Communications, Inc   57,944 
 16,965   *  General Communication, Inc (Class A)   261,091 
 3,026      IDT Corp (Class B)   46,177 
 67,259   *,e  Iridium Communications, Inc   603,986 
 34,387   *  Level 3 Communications, Inc   1,739,982 
 3,379   *  Lumos Networks Corp   39,534 
 835,162   *  Sprint Corp   5,127,895 
 751,340      Verizon Communications, Inc   41,631,749 
72

TIAA-CREF FUNDS - Social Choice Equity Fund

 

SHARES       COMPANY  VALUE 
               
 100,781    *  Vonage Holdings Corp  $597,631 
         TOTAL TELECOMMUNICATION SERVICES   62,533,665 
               
TRANSPORTATION - 2.7%      
 158       Allegiant Travel Co   20,504 
 310       Arkansas Best Corp   5,800 
 42,330    *  Avis Budget Group, Inc   1,554,781 
 490       CH Robinson Worldwide, Inc   34,114 
 263,863       CSX Corp   7,475,239 
 152,360       Delta Air Lines, Inc   5,903,950 
 4,220    *  Echo Global Logistics, Inc   104,487 
 8       Expeditors International of Washington, Inc   395 
 200    *  Hertz Global Holdings, Inc   9,736 
 180       Landstar System, Inc   12,688 
 103,126       Norfolk Southern Corp   9,258,652 
 9       Ryder System, Inc   593 
 357,983       Southwest Airlines Co   13,248,951 
 176,809       Union Pacific Corp   16,452,078 
 205,552       United Parcel Service, Inc (Class B)   22,220,171 
         TOTAL TRANSPORTATION   76,302,139 
               
UTILITIES - 3.2%      
 12,632       American Water Works Co, Inc   1,043,151 
 91,114       Centerpoint Energy, Inc   2,179,447 
 180,018       Consolidated Edison, Inc   14,415,842 
 134,463       Dominion Resources, Inc   10,490,803 
 13,823       Edison International   1,069,624 
 136,459       Eversource Energy   7,981,487 
 10,413       ITC Holdings Corp   481,601 
 13,718       New Jersey Resources Corp   510,858 
 2,044       Northwest Natural Gas Co   132,737 
 290       Ormat Technologies, Inc   13,236 
 69,649       Piedmont Natural Gas Co, Inc   4,165,010 
 8,480       Pinnacle West Capital Corp   668,818 
 43,640       Public Service Enterprise Group, Inc   2,007,876 
 103,815       Sempra Energy   11,614,822 
 37,448       South Jersey Industries, Inc   1,193,842 
 362,606       Southern Co   19,399,421 
 1,260       Vectren Corp   65,180 
 143,732       WEC Energy Group, Inc   9,329,644 
 14,518       WGL Holdings, Inc   1,027,729 
 38,029       Xcel Energy, Inc   1,672,516 
         TOTAL UTILITIES   89,463,644 
               
         TOTAL COMMON STOCKS   2,775,245,698 
         (Cost $2,118,541,595)     
73

TIAA-CREF FUNDS - Social Choice Equity Fund

 

PRINCIPAL     ISSUER  RATE  MATURITY DATE  VALUE 
SHORT-TERM INVESTMENTS - 2.2%            
GOVERNMENT AGENCY DEBT - 0.2%            
$4,650,000     Federal Home Loan Bank (FHLB)   0.150%  08/01/16  $4,650,000 
       TOTAL GOVERNMENT AGENCY DEBT           4,650,000 
                     
TREASURY DEBT - 0.1%            
 800,000     United States Treasury Bill   0.196   08/04/16   799,992 
 3,100,000     United States Treasury Bill   0.252   09/15/16   3,099,157 
       TOTAL TREASURY DEBT           3,899,149 
                     
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.9%          
GOVERNMENT AGENCY DEBT - 0.1%             
 3,000,000     Federal Home Loan Bank (FHLB)   0.290   8/29/16   2,999,323 
       TOTAL GOVERNMENT AGENCY DEBT           2,999,323 
                     
TREASURY DEBT - 1.8%             
 20,000,000     United States Treasury Bill   0.245   8/11/16   19,998,639 
 17,000,000     United States Treasury Bill   0.315   8/18/16   16,997,471 
 13,000,000     United States Treasury Bill   0.186   8/25/16   12,998,227 
       TOTAL TREASURY DEBT           49,994,337 
                     
       TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED     52,993,660  
                     
       TOTAL SHORT-TERM INVESTMENTS           61,542,809 
       (Cost $61,542,671)             
       TOTAL INVESTMENTS - 101.9%           2,836,788,507 
       (Cost $2,180,084,266)             
       OTHER ASSETS & LIABILITIES, NET - (1.9)%           (53,926,789)
       NET ASSETS - 100.0%          $2,782,861,718 

       
     
    Abbreviation(s):
  REIT    Real Estate Investment Trust
     
*   Non-income producing
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $60,605,987.
74

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

TIAA-CREF FUNDS

SOCIAL CHOICE LOW CARBON EQUITY FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
              
COMMON STOCKS - 99.9%      
              
AUTOMOBILES & COMPONENTS - 1.5%     
 29,505      Ford Motor Co  $373,533 
 499      Harley-Davidson, Inc   26,407 
 3,549      Johnson Controls, Inc   162,970 
 1,043   *  Tesla Motors, Inc   244,886 
        TOTAL AUTOMOBILES & COMPONENTS   807,796 
              
BANKS - 3.8%      
 144      Arrow Financial Corp   4,549 
 189      Banner Corp   7,889 
 8,892      BB&T Corp   327,848 
 756      Boston Private Financial Holdings, Inc   9,163 
 13      Bryn Mawr Bank Corp   381 
 550      Centerstate Banks of Florida, Inc   9,163 
 7,481      Citizens Financial Group, Inc   167,051 
 470      CoBiz, Inc   5,804 
 1,733      Comerica, Inc   78,401 
 129      Federal Agricultural Mortgage Corp (Class C)   4,957 
 227      First Bancorp (NC)   4,249 
 379      First Commonwealth Financial Corp   3,657 
 4,963      First Niagara Financial Group, Inc   50,523 
 420      Hanmi Financial Corp   10,298 
 236   *  HomeTrust Bancshares, Inc   4,338 
 4,079      Keycorp   47,724 
 611      LegacyTexas Financial Group, Inc   17,426 
 262      Live Oak Bancshares, Inc   3,435 
 2,047      M&T Bank Corp   234,504 
 940   *  MGIC Investment Corp   6,759 
 596      OFG Bancorp   6,324 
 230      Opus Bank   7,424 
 1,674      PacWest Bancorp   69,220 
 215      Peoples Bancorp, Inc   4,827 
 742   *  PHH Corp   10,841 
 4,278      PNC Financial Services Group, Inc   353,577 
 894      Popular, Inc   30,119 
 288      Southside Bancshares, Inc   8,810 
 301   *  The Bancorp, Inc   1,595 
 283      Trico Bancshares   7,364 
 344      Union Bankshares Corp   9,233 
 9,944      US Bancorp   419,338 
 337   *  Walter Investment Management Corp   967 
 963      Wilshire Bancorp, Inc   10,343 
 2,841      Zions Bancorporation   79,207 
        TOTAL BANKS   2,017,308 
75

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
            
CAPITAL GOODS - 7.9%      
 2,844     3M Co  $507,256 
 589     Acuity Brands, Inc   154,571 
 143     Advanced Drainage Systems, Inc   3,820 
 174     Allegion plc   12,596 
 185     Argan, Inc   8,534 
 1,484     BE Aerospace, Inc   70,987 
 1,123  *  Builders FirstSource, Inc   14,476 
 4,576     Caterpillar, Inc   378,710 
 402  *  Chart Industries, Inc   12,068 
 1,453     Chicago Bridge & Iron Co NV   49,126 
 2,230     Cummins, Inc   273,777 
 4,613     Danaher Corp   375,682 
 162     Deere & Co   12,589 
 846  *  DigitalGlobe, Inc   22,808 
 2,242     Dover Corp   160,146 
 179  *  DXP Enterprises, Inc   2,979 
 5,121     Eaton Corp   324,723 
 409  *  Esterline Technologies Corp   24,879 
 1,362     Fastenal Co   58,226 
 517     Granite Construction, Inc   25,736 
 407     H&E Equipment Services, Inc   7,578 
 1,347     Hexcel Corp   58,150 
 2,929     Illinois Tool Works, Inc   338,007 
 1,078     Ingersoll-Rand plc   71,428 
 1,216     ITT, Inc   38,559 
 616     Kennametal, Inc   15,314 
 406  *  KEYW Holding Corp   4,157 
 218     Lincoln Electric Holdings, Inc   13,529 
 4,873     Masco Corp   177,767 
 227  *  MYR Group, Inc   5,600 
 668  *  Navistar International Corp   8,564 
 1,431  *  NOW, Inc   26,202 
 930     Parker Hannifin Corp   106,197 
 2,318     Pentair plc   147,935 
 1,497  *  Plug Power, Inc   2,680 
 1,697     Rockwell Automation, Inc   194,137 
 1,849     Rockwell Collins, Inc   156,462 
 95  *  Rush Enterprises, Inc (Class A)   2,183 
 245  *  Titan Machinery, Inc   2,746 
 745  *  TransDigm Group, Inc   208,242 
 546     Triton International Ltd   9,167 
 1,251  *  United Rentals, Inc   99,667 
 107  *  Veritiv Corp   4,518 
 745     Woodward Governor Co   43,612 
       TOTAL CAPITAL GOODS   4,236,090 
             
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%     
 1,327  *  ACCO Brands Corp   14,915 
 668     Brady Corp (Class A)   21,470 
 1,566  *  Copart, Inc   78,989 
 212     Deluxe Corp   14,329 
 1,188     Equifax, Inc   157,362 
76

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 165     Heidrick & Struggles International, Inc  $3,211 
 154     KAR Auction Services, Inc   6,587 
 277     Kforce, Inc   4,947 
 270     Manpower, Inc   18,738 
 237  *  Mistras Group, Inc   5,939 
 636  *  Navigant Consulting, Inc   12,536 
 2,630     Pitney Bowes, Inc   50,785 
 2,903     R.R. Donnelley & Sons Co   52,022 
 500  *  RPX Corp   5,035 
 259  *  Team, Inc   7,151 
 367  *  TrueBlue, Inc   8,195 
 2,540     Tyco International plc   115,748 
       TOTAL COMMERCIAL & PROFESSIONAL SERVICES   577,959 
             
CONSUMER DURABLES & APPAREL - 1.0%     
 433     CalAtlantic Group, Inc   15,679 
 818     Coach, Inc   35,264 
 5     Hasbro, Inc   406 
 1,089  *  Kate Spade & Co   23,620 
 4,256     Mattel, Inc   142,065 
 132  *  Michael Kors Holdings Ltd   6,827 
 156     Movado Group, Inc   3,524 
 5,468     Nike, Inc (Class B)   303,474 
 36  *  Under Armour, Inc (Class A)   1,421 
       TOTAL CONSUMER DURABLES & APPAREL   532,280 
             
CONSUMER SERVICES - 2.1%      
 214  *  American Public Education, Inc   6,129 
 608  *  Caesars Acquisition Co   6,542 
 195     Carriage Services, Inc   4,740 
 7,399     Hilton Worldwide Holdings, Inc   171,583 
 203  *  Intrawest Resorts Holdings Inc   2,952 
 1,230  *  LifeLock, Inc   20,578 
 4,179     McDonald’s Corp   491,659 
 120     Royal Caribbean Cruises Ltd   8,693 
 26     Six Flags Entertainment Corp   1,466 
 7,289     Starbucks Corp   423,127 
       TOTAL CONSUMER SERVICES   1,137,469 
             
DIVERSIFIED FINANCIALS - 5.4%     
 5,875     American Express Co   378,703 
 9,040     Bank of New York Mellon Corp   356,176 
 1,005     BlackRock, Inc   368,081 
 11,827     Charles Schwab Corp   336,123 
 3,226     CME Group, Inc   329,826 
 4,739     Discover Financial Services   269,365 
 237  *  Encore Capital Group, Inc   5,785 
 1,863     Franklin Resources, Inc   67,422 
 619     IntercontinentalExchange Group, Inc   163,540 
 33     Invesco Ltd   963 
 339  *  NewStar Financial, Inc   3,465 
 643  *  On Deck Capital, Inc   3,344 
 278  *  Pico Holdings, Inc   2,802 
77

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 2,812     S&P Global, Inc  $343,626 
 250  *  Safeguard Scientifics, Inc   3,230 
 3,655     State Street Corp   240,426 
 84     Virtus Investment Partners, Inc   7,080 
 550     WisdomTree Investments, Inc   5,467 
       TOTAL DIVERSIFIED FINANCIALS   2,885,424 
             
ENERGY - 3.4%     
 316     Alon USA Energy, Inc   2,234 
 844     Archrock, Inc   7,520 
 786     Atwood Oceanics, Inc   8,394 
 6,219     Baker Hughes, Inc   297,455 
 422     Bristow Group, Inc   4,562 
 238     CARBO Ceramics, Inc   3,356 
 635  *  Clean Energy Fuels Corp   1,899 
 859     Delek US Holdings, Inc   10,755 
 507  *  Dril-Quip, Inc   27,596 
 421  *  Exterran Corp   5,355 
 778  *  Fairmount Santrol Holdings, Inc   5,329 
 3,228  *  FMC Technologies, Inc   81,927 
 719  *  Forum Energy Technologies, Inc   11,741 
 419     Frank’s International NV   5,162 
 461     Green Plains Renewable Energy, Inc   10,455 
 1,284  *  Helix Energy Solutions Group, Inc   10,195 
 368  *  Matrix Service Co   6,098 
 3,345  *  McDermott International, Inc   17,327 
 5,422     National Oilwell Varco, Inc   175,402 
 114  *  Natural Gas Services Group, Inc   2,863 
 1,020  *  Newpark Resources, Inc   6,446 
 1,364     Oceaneering International, Inc   38,028 
 721  *  Oil States International, Inc   22,293 
 2,966     Oneok, Inc   132,847 
 1,483  *  Parker Drilling Co   3,070 
 1,362     PBF Energy, Inc   30,427 
 148  *  PHI, Inc   2,859 
 444  *  Renewable Energy Group, Inc   4,329 
 108  *  RigNet, Inc   1,291 
 1,751     Rowan Cos plc   26,685 
 697  *  RPC, Inc   10,100 
 6,563     Schlumberger Ltd   528,453 
 226  *  SEACOR Holdings, Inc   12,774 
 348     Tesco Corp   2,300 
 1,759     Tesoro Corp   133,948 
 981  *  Tetra Technologies, Inc   5,896 
 570     Tidewater, Inc   2,434 
 887     US Silica Holdings Inc   30,575 
 12,505  *  Weatherford International Ltd   71,028 
 863     Western Refining, Inc   17,994 
 1,009     World Fuel Services Corp   48,028 
       TOTAL ENERGY   1,827,430 
             
FOOD & STAPLES RETAILING - 0.3%     
 251     Casey’s General Stores, Inc   33,519 
78

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 281     Pricesmart, Inc  $21,884 
 3,463     Whole Foods Market, Inc   105,552 
       TOTAL FOOD & STAPLES RETAILING   160,955 
             
FOOD, BEVERAGE & TOBACCO - 5.2%     
 402  *  Amplify Snack Brands, Inc   5,732 
 871     Bunge Ltd   57,347 
 15,145     Coca-Cola Co   660,776 
 144  *  Darling International, Inc   2,272 
 309  *  Freshpet, Inc   2,701 
 4,981     General Mills, Inc   358,084 
 3,187     Kellogg Co   263,597 
 4,415     Kraft Heinz Co   381,412 
 351  *  Landec Corp   4,036 
 219     Mead Johnson Nutrition Co   19,535 
 9,382     Mondelez International, Inc   412,621 
 5,810     PepsiCo, Inc   632,825 
 81  *  Seneca Foods Corp   3,173 
       TOTAL FOOD, BEVERAGE & TOBACCO   2,804,111 
             
HEALTH CARE EQUIPMENT & SERVICES - 5.0%     
 1,028  *  Acadia Healthcare Co, Inc   58,082 
 407     Aceto Corp   10,464 
 374  *  Amedisys, Inc   20,028 
 1,015     AmerisourceBergen Corp   86,468 
 428  *  AMN Healthcare Services, Inc   18,104 
 332  *  Angiodynamics, Inc   5,508 
 2,566     Anthem, Inc   337,018 
 539  *  athenahealth, Inc   68,879 
 435  *  AtriCure, Inc   6,608 
 1,978     Becton Dickinson & Co   348,128 
 2,526  *  Brookdale Senior Living, Inc   46,655 
 388  *  Capital Senior Living Corp   7,558 
 3,898     Cardinal Health, Inc   325,873 
 441  *  Cardiovascular Systems, Inc   8,648 
 758  *  Centene Corp   53,477 
 549  *  Cerus Corp   4,057 
 2,452     Cigna Corp   316,210 
 423  *  Cross Country Healthcare, Inc   6,184 
 272     DENTSPLY SIRONA, Inc   17,419 
 641  *  Diplomat Pharmacy, Inc   23,031 
 2,459  *  Edwards Lifesciences Corp   281,605 
 1,172  *  Envision Healthcare Holdings, Inc   28,820 
 376  *  GenMark Diagnostics, Inc   4,004 
 295     Healthsouth Corp   12,700 
 420  *  Healthways, Inc   7,073 
 63  *  Henry Schein, Inc   11,402 
 3,700  *  Hologic, Inc   142,413 
 1,775     Humana, Inc   306,276 
 1,097     Kindred Healthcare, Inc   13,449 
 126     Landauer, Inc   5,257 
 198  *  LHC Group, Inc   8,962 
 20  *  Merit Medical Systems, Inc   469 
79

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 479  *  Omnicell, Inc  $18,528 
 487  *  OraSure Technologies, Inc   3,321 
 373  *  PharMerica Corp   9,907 
 171  *  Providence Service Corp   8,271 
 351  *  Quidel Corp   8,003 
 557  *  Spectranetics Corp   12,911 
 347  *  Staar Surgical Co   2,373 
 278  *  Teladoc, Inc   4,848 
 655     Universal American Corp   5,017 
 222  *  Vascular Solutions, Inc   10,183 
 335  *  Vocera Communications, Inc   4,955 
 1,379  *  Wright Medical Group NV   30,241 
       TOTAL HEALTH CARE EQUIPMENT & SERVICES   2,709,387 
             
HOUSEHOLD & PERSONAL PRODUCTS - 2.7%     
 14     Clorox Co   1,835 
 5,580     Colgate-Palmolive Co   415,319 
 1,530     Kimberly-Clark Corp   198,212 
 65     Medifast, Inc   2,289 
 96     Natural Health Trends Corp   3,225 
 9,358     Procter & Gamble Co   800,951 
       TOTAL HOUSEHOLD & PERSONAL PRODUCTS   1,421,831 
             
INSURANCE - 4.8%      
 4,451     Aflac, Inc   321,718 
 3,634     Allstate Corp   248,311 
 3,136     Chubb Ltd   392,815 
 6,953  *  Genworth Financial, Inc (Class A)   19,886 
 3,960     Hartford Financial Services Group, Inc   157,806 
 3,972     Loews Corp   164,163 
 5,103     Marsh & McLennan Cos, Inc   335,522 
 276     Principal Financial Group   12,870 
 7,220     Progressive Corp   234,722 
 4,439     Prudential Financial, Inc   334,213 
 2,873     Travelers Cos, Inc   333,900 
       TOTAL INSURANCE   2,555,926 
             
MATERIALS - 4.1%      
 398     A. Schulman, Inc   11,665 
 1,568     Albemarle Corp   131,979 
 2,295  *  Axalta Coating Systems Ltd   65,522 
 441     Balchem Corp   28,167 
 2,413     Ball Corp   170,527 
 2,119     Celanese Corp (Series A)   134,387 
 469     Compass Minerals International, Inc   32,638 
 2,078     Eastman Chemical Co   135,548 
 2,784     Ecolab, Inc   329,570 
 1,152  *  Ferro Corp   14,930 
 697  *  Flotek Industries, Inc   9,897 
 138     Hawkins, Inc   5,898 
 256     Innophos Holdings, Inc   11,023 
 708     International Paper Co   32,433 
 757     Kapstone Paper and Packaging Corp   10,810 
80

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 416  *  Kraton Polymers LLC  $12,443 
 275     Materion Corp   7,263 
 488     Minerals Technologies, Inc   31,847 
 4,942     Mosaic Co   133,434 
 211     Myers Industries, Inc   3,154 
 1,176     PolyOne Corp   41,242 
 3,075     PPG Industries, Inc   321,983 
 906     Royal Gold, Inc   76,593 
 361     Schnitzer Steel Industries, Inc (Class A)   7,036 
 1,815     Sealed Air Corp   85,632 
 1,059     Sherwin-Williams Co   317,414 
 385     Trinseo S.A.   19,169 
 981     WestRock Co   42,095 
       TOTAL MATERIALS   2,224,299 
             
MEDIA - 3.3%      
 1,560  *  Charter Communications, Inc   366,398 
 479     Clear Channel Outdoor Holdings, Inc (Class A)   3,348 
 2,724  *  Discovery Communications, Inc (Class C)   66,847 
 328  *  DreamWorks Animation SKG, Inc (Class A)   13,438 
 331     Entercom Communications Corp (Class A)   4,836 
 900     Entravision Communications Corp (Class A)   6,534 
 1,647     Gannett Co, Inc   21,016 
 857  *  Gray Television, Inc   8,484 
 448     John Wiley & Sons, Inc (Class A)   25,850 
 358  *  Liberty Broadband Corp (Class A)   22,486 
 1,464  *  Liberty Broadband Corp (Class C)   92,686 
 1,461  *  Media General, Inc   25,699 
 916     New York Times Co (Class A)   11,890 
 1,143     Scripps Networks Interactive (Class A)   75,506 
 572     Sinclair Broadcast Group, Inc (Class A)   15,913 
 5,188     Time Warner, Inc   397,660 
 6,536     Walt Disney Co   627,129 
       TOTAL MEDIA   1,785,720 
             
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 9.7%     
 1,260  *  Acadia Pharmaceuticals, Inc   46,670 
 2,571     Agilent Technologies, Inc   123,691 
 1,169  *  Akorn, Inc   40,015 
 650  *  Alexion Pharmaceuticals, Inc   83,590 
 3,081     Amgen, Inc   530,025 
 2,478  *  Ariad Pharmaceuticals, Inc   23,566 
 438  *  Biogen Idec, Inc   126,989 
 7,414     Bristol-Myers Squibb Co   554,641 
 282  *  Cambrex Corp   14,780 
 3,045  *  Celgene Corp   341,619 
 1,207  *  Celldex Therapeutics, Inc   5,576 
 573  *  Cempra, Inc   10,297 
 606  *  Chimerix, Inc   2,418 
 845  *  Depomed, Inc   16,030 
 356  *  Fluidigm Corp   3,756 
 6,316     Gilead Sciences, Inc   501,933 
 868  *  Immunomedics, Inc   2,300 
81

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 879  *  Inovio Pharmaceuticals, Inc  $8,684 
 351  *  Intersect ENT, Inc   5,560 
 460  *  Intra-Cellular Therapies, Inc   18,768 
 1,812  *  Ironwood Pharmaceuticals, Inc   25,604 
 8,586     Johnson & Johnson   1,075,225 
 71  *  Kite Pharma, Inc   4,021 
 10,983     Merck & Co, Inc   644,263 
 869  *  Momenta Pharmaceuticals, Inc   9,785 
 1,839  *  Nektar Therapeutics   31,796 
 711  *  Prestige Brands Holdings, Inc   38,038 
 920  *  Progenics Pharmaceuticals, Inc   5,382 
 486  *  Prothena Corp plc   26,754 
 522  *  Relypsa, Inc   16,673 
 241  *  Revance Therapeutics, Inc   3,251 
 366  *  Sage Therapeutics, Inc   16,419 
 907  *  Sangamo Biosciences, Inc   5,741 
 543  *  Sarepta Therapeutics, Inc   13,727 
 117  *  Spark Therapeutics, Inc   6,779 
 224  *  Sucampo Pharmaceuticals, Inc (Class A)   2,632 
 101  *  TESARO, Inc   9,417 
 475  *  Theravance Biopharma, Inc   12,117 
 2,560     Thermo Electron Corp   406,630 
 482  *  Ultragenyx Pharmaceutical, Inc   30,501 
 274  *  Versartis, Inc   3,151 
 278  *  Vertex Pharmaceuticals, Inc   26,966 
 6,207     Zoetis Inc   313,267 
       TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   5,189,047 
             
REAL ESTATE - 5.6%      
 114  *  Altisource Portfolio Solutions S.A.   2,652 
 3,211     American Tower Corp   371,737 
 11,079     Annaly Capital Management, Inc   121,647 
 130     AvalonBay Communities, Inc   24,135 
 542     Chimera Investment Corp   9,095 
 1,702     Communications Sales & Leasing, Inc   52,898 
 3,468     Crown Castle International Corp   336,500 
 2,026     CYS Investments, Inc   18,133 
 641     Dynex Capital, Inc   4,500 
 314     Easterly Government Properties, Inc   6,434 
 845     Equinix, Inc   315,075 
 1,774     Equity Residential   120,614 
 822     Host Marriott Corp   14,582 
 364  *  iStar Financial, Inc   3,771 
 1,297     Kennedy-Wilson Holdings, Inc   27,302 
 2,544     NorthStar Realty Finance Corp   34,090 
 1,014     Parkway Properties, Inc   17,613 
 6,072     Prologis, Inc   330,863 
 386     Resource Capital Corp   5,254 
 96     RMR Group, Inc   3,268 
 1,881     Simon Property Group, Inc   427,062 
 725  *  St. Joe Co   13,362 
 181  *  Tejon Ranch Co   4,755 
 619     Tier REIT, Inc   10,789 
82

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 1,871     Ventas, Inc  $142,495 
 4,100     Welltower, Inc   325,253 
 8,524     Weyerhaeuser Co   278,905 
       TOTAL REAL ESTATE   3,022,784 
             
RETAILING - 3.2%      
 304  *  1-800-FLOWERS.COM, Inc (Class A)   2,775 
 105  *  AutoZone, Inc   85,467 
 495     Best Buy Co, Inc   16,632 
 246     Big 5 Sporting Goods Corp   2,598 
 139     Blue Nile, Inc   4,039 
 694  *  Cabela’s, Inc   35,831 
 1,257     Dollar General Corp   119,088 
 1,406  *  Etsy, Inc   14,144 
 241  *  FTD Cos, Inc   6,100 
 1,527     Gap, Inc   39,381 
 5,452  *  Groupon, Inc   26,279 
 275     Haverty Furniture Cos, Inc   5,068 
 424     HSN, Inc   21,692 
 207     Kirkland’s, Inc   3,155 
 515     Kohl’s Corp   21,419 
 142  *  Lands’ End, Inc   2,018 
 5,278     Lowe’s Companies, Inc   434,274 
 3,789  *  NetFlix, Inc   345,746 
 389     Nutri/System, Inc   11,507 
 7,619  *  Office Depot, Inc   26,362 
 210     Outerwall, Inc   11,059 
 146  *  Overstock.com, Inc   2,380 
 1,100     Pier 1 Imports, Inc   5,632 
 3,775     Ross Stores, Inc   233,408 
 493  *  Shutterfly, Inc   26,223 
 328     Stage Stores, Inc   1,945 
 8,956     Staples, Inc   83,201 
 417     Stein Mart, Inc   3,586 
 463  *  Ulta Salon Cosmetics & Fragrance, Inc   120,940 
 305  *  Vitamin Shoppe, Inc   8,924 
 422  *  Wayfair, Inc   18,357 
       TOTAL RETAILING   1,739,230 
             
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.2%      
 9,072  *  Advanced Micro Devices, Inc   62,234 
 12,276     Applied Materials, Inc   322,736 
 952     Brooks Automation, Inc   11,929 
 18,623     Intel Corp   649,198 
 4,174     Nvidia Corp   238,335 
 756  *  SunPower Corp   11,022 
 6,245     Texas Instruments, Inc   435,589 
       TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   1,731,043 
             
SOFTWARE & SERVICES - 13.2%     
 3,780     Accenture plc   426,422 
 492  *  Actua Corp   4,910 
 869  *  Alphabet, Inc (Class A)   687,674 
83

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 881  *  Alphabet, Inc (Class C)  $677,304 
 378  *  Angie’s List, Inc   3,058 
 1,479  *  Autodesk, Inc   87,927 
 3,893     Automatic Data Processing, Inc   346,282 
 312  *  Black Knight Financial Services, Inc   12,121 
 653     Blackbaud, Inc   43,653 
 428  *  Cimpress NV   40,574 
 4,878  *  Cognizant Technology Solutions Corp (Class A)   280,436 
 665  *  comScore, Inc   17,257 
 634  *  DHI Group, Inc   4,622 
 429  *  Euronet Worldwide, Inc   32,716 
 1,463  *  Glu Mobile, Inc   3,423 
 210  *  Interactive Intelligence, Inc   11,329 
 3,683     International Business Machines Corp   591,563 
 1,795     Intuit, Inc   199,227 
 640     j2 Global, Inc   42,778 
 348  *  LogMeIn, Inc   29,897 
 575  *  Marketo, Inc   20,228 
 5,033     MasterCard, Inc (Class A)   479,343 
 22,542     Microsoft Corp   1,277,681 
 812  *  Monster Worldwide, Inc   2,054 
 294  *  New Relic, Inc   10,125 
 13,275     Oracle Corp   544,806 
 431  *  Perficient, Inc   9,577 
 376  *  Qualys, Inc   11,803 
 898  *  Quotient Technology, Inc   11,369 
 1,527  *  Rackspace Hosting, Inc   35,778 
 332  *  RetailMeNot, Inc   2,772 
 811  *  RingCentral, Inc   18,677 
 80  *  Rovi Corp   1,505 
 4,631  *  Salesforce.com, Inc   378,816 
 526  *  ServiceSource International LLC   2,377 
 507  *  Silver Spring Networks, Inc   6,373 
 217  *  SPS Commerce, Inc   13,740 
 1,699     Symantec Corp   34,711 
 351  *  Tangoe, Inc   2,840 
 1,481  *  Teradata Corp   42,031 
 611  *  Unisys Corp   6,055 
 125  *  Vasco Data Security International   2,089 
 533  *  Website Pros, Inc   10,052 
 1,652  *  Workday, Inc   137,678 
 14,275     Xerox Corp   147,032 
 8,740  *  Yahoo!, Inc   333,781 
       TOTAL SOFTWARE & SERVICES   7,086,466 
             
TECHNOLOGY HARDWARE & EQUIPMENT - 4.1%      
 526  *  Arista Networks, Inc   37,488 
 400  *  Calix, Inc   3,088 
 20,385     Cisco Systems, Inc   622,354 
 198     Comtech Telecommunications Corp   2,588 
 7,289     Corning, Inc   161,962 
 564  *  Cray, Inc   17,800 
 346     Daktronics, Inc   2,239 
84

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 233     Electro Rent Corp  $3,604 
 13,731     EMC Corp   388,313 
 16,768     Hewlett Packard Enterprise Co   352,463 
 22,612     HP, Inc   316,794 
 2,074     Ingram Micro, Inc (Class A)   71,014 
 862     Lexmark International, Inc (Class A)   31,609 
 1,390     Motorola, Inc   96,438 
 427  *  Netgear, Inc   21,961 
 1,095  *  QLogic Corp   16,994 
 248  *  Scansource, Inc   10,175 
 603  *  Sonus Networks, Inc   5,198 
 485  *  Super Micro Computer, Inc   10,452 
 478  *  Tech Data Corp   37,251 
       TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   2,209,785 
             
TELECOMMUNICATION SERVICES - 2.6%      
 327  *  Boingo Wireless, Inc   2,995 
 5,222     CenturyTel, Inc   164,180 
 2,783  *  Cincinnati Bell, Inc   13,915 
 16,332     Frontier Communications Corp   84,927 
 401  *  General Communication, Inc (Class A)   6,172 
 5,791  *  Globalstar, Inc   6,891 
 232     IDT Corp (Class B)   3,540 
 1,007  *  Iridium Communications, Inc   9,043 
 4,128  *  Level 3 Communications, Inc   208,877 
 676     Shenandoah Telecom Co   27,770 
 10,558  *  Sprint Corp   64,826 
 14,376     Verizon Communications, Inc   796,574 
 2,644  *  Vonage Holdings Corp   15,679 
 1,217     Windstream Holdings, Inc   11,330 
       TOTAL TELECOMMUNICATION SERVICES   1,416,719 
             
TRANSPORTATION - 3.1%      
 11,295     CSX Corp   319,987 
 1,017  *  Hertz Global Holdings, Inc   49,508 
 995     Kansas City Southern Industries, Inc   95,629 
 3,566     Norfolk Southern Corp   320,155 
 4,770     Union Pacific Corp   443,849 
 4,012     United Parcel Service, Inc (Class B)   433,697 
 750  *  Wesco Aircraft Holdings, Inc   9,638 
 431  *  YRC Worldwide, Inc   5,116 
       TOTAL TRANSPORTATION   1,677,579 
             
UTILITIES - 3.6%      
 2,516     American Water Works Co, Inc   207,771 
 2,475     Aqua America, Inc   85,734 
 6,121     Centerpoint Energy, Inc   146,414 
 3,953     Consolidated Edison, Inc   316,556 
 4,125     Edison International   319,193 
 4,485     Eversource Energy   262,328 
 1,197     New Jersey Resources Corp   44,576 
 538     Ormat Technologies, Inc   24,554 
 798     Pattern Energy Group, Inc   19,447 
85

TIAA-CREF FUNDS - Social Choice Low Carbon Equity Fund

 

SHARES      COMPANY  VALUE 
             
 1,138     Piedmont Natural Gas Co, Inc  $68,053 
 2,909     Sempra Energy   325,459 
 655     Southwest Gas Corp   50,763 
 699     WGL Holdings, Inc   49,482 
       TOTAL UTILITIES   1,920,330 
             
       TOTAL COMMON STOCKS   53,676,968 
       (Cost $50,175,892)     
             
       TOTAL INVESTMENTS - 99.9%   53,676,968 
       (Cost $50,175,892)     
       OTHER ASSETS & LIABILITIES, NET - 0.1%   61,244 
       NET ASSETS - 100.0%  $53,738,212 
       
     
    Abbreviation(s):
  REIT      Real Estate Investment Trust
     
*   Non-income producing
86

TIAA-CREF FUNDS - Emerging Markets Equity Fund

 

TIAA-CREF FUNDS

EMERGING MARKETS EQUITY FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

PRINCIPAL      ISSUER  RATE  MATURITY
DATE		  VALUE 
                      
CORPORATE BONDS - 0.1%             
                      
HONG KONG - 0.1%             
$534,000   m  Asia Pacific Investment Partners   8.000%  10/29/16  $501,735 
        TOTAL HONG KONG            501,735 
                      
        TOTAL CORPORATE BONDS            501,735 
        (Cost $534,000)             
                      
SHARES      COMPANY            
                      
COMMON STOCKS - 100.0%             
                      
ARGENTINA - 1.0%             
 234,034   *  Grupo Supervielle S.A. (ADR)           3,171,161 
 165,680   *  Pampa Energia S.A. (ADR)           4,516,437 
 193,296      YPF S.A. (ADR) (Class D)           3,570,177 
        TOTAL ARGENTINA            11,257,775 
                      
AUSTRALIA - 0.5%             
 929,067      Oil Search Ltd           5,091,115 
        TOTAL AUSTRALIA            5,091,115 
                      
BRAZIL - 9.3%             
 1,173,400      Banco Bradesco S.A. (Preference)           10,263,269 
 1,294,069      Banco Itau Holding Financeira S.A.           13,485,872 
 613,700      BB Seguridade Participacoes S.A.           5,704,700 
 1,357,200      BM&F Bovespa S.A.           7,990,670 
 1,177,700      BR Malls Participacoes S.A.           5,106,854 
 732,472      Cielo S.A.           8,301,982 
 606,700      Cosan SA Industria e Comercio           6,371,248 
 185,817      Energisa S.A.           1,192,016 
 592,500      Hypermarcas S.A.           5,016,076 
 1,159,400      Kroton Educacional S.A.           5,163,378 
 285,000      Localiza Rent A Car           3,542,283 
 283,300      Ouro Fino Saude Animal Participacoes S.A.           3,538,629 
 2,854,400   *  Petroleo Brasileiro S.A.           12,333,501 
 2,231,200   *  Rumo Logistica Operadora Multimodal S.A.           4,211,369 
 230,400      Telefonica Brasil S.A.           3,498,209 
 739,000      Vale S.A.           4,216,475 
        TOTAL BRAZIL            99,936,531 
                       
CHILE - 1.2%                
 1,595,582      Centros Comerciales Sudamericanos S.A.           4,540,700 
 12,218,191      Enersis S.A.           2,132,141 
87

TIAA-CREF FUNDS - Emerging Markets Equity Fund

 

SHARES      COMPANY  VALUE 
           
 2,945,158     Parque Arauco S.A.  $6,484,611 
       TOTAL CHILE   13,157,452 
              
CHINA - 18.4%      
 332,341  *  Alibaba Group Holding Ltd (ADR)   27,411,486 
 48,794  *  Baidu, Inc (ADR)   7,787,522 
 6,456,000  e  Beijing Enterprises Water Group Ltd   3,929,332 
 4,186,000     Brilliance China Automotive Holdings Ltd   4,660,536 
 8,978,000  *,e,m  China Animal Healthcare Ltd   11,572 
 22,091,000     China Construction Bank   14,857,086 
 2,921,000     China Galaxy Securities Co Ltd   2,534,786 
 1,322,000     China Mobile Hong Kong Ltd   16,371,015 
 2,970,200     China Overseas Land & Investment Ltd   9,797,401 
 2,652,000     China Resources Land Ltd   6,614,957 
 4,826,000     CNOOC Ltd   5,816,452 
 169,867  *,e  Ctrip.com International Ltd (ADR)   7,418,092 
 13,164,000     Huaneng Renewables Corp Ltd   4,225,991 
 1,475,000  g  Huatai Securities Co Ltd   3,022,119 
 20,611,834     Industrial & Commercial Bank of China   11,758,857 
 1,927,000     Ping An Insurance Group Co of China Ltd   9,043,565 
 1,362,000  e  Sunny Optical Technology Group Co Ltd   5,437,321 
 2,036,800     Tencent Holdings Ltd   49,195,085 
 97,616  *  YY, Inc (ADR)   3,825,571 
 12,224,000     Zijin Mining Group Co Ltd   4,468,953 
       TOTAL CHINA   198,187,699 
              
CZECH REPUBLIC - 0.3%     
 1,107,217  *,g  Moneta Money Bank AS.   3,414,417 
       TOTAL CZECH REPUBLIC   3,414,417 
              
GREECE - 0.4%        
 485,513     OPAP S.A.   3,896,815 
       TOTAL GREECE   3,896,815 
              
HONG KONG - 3.6%        
 1,361,200     AIA Group Ltd   8,479,173 
 22,290  *,m  Asia Pacific Investment Partners Limited   148,925 
 2,874,000     China Gas Holdings Ltd   4,549,603 
 621,536  *,e,m  China Metal Recycling Holdings Ltd   801 
 717,000  *,e,g  IMAX China Holding, Inc   3,708,003 
 321,326     Melco Crown Entertainment Ltd (ADR)   4,485,711 
 22,290  *,m  Mongolian Metals Corporation   0 
 1,418,700     Sands China Ltd   5,428,208 
 1,556,000     Techtronic Industries Co   6,589,247 
 26,720,000     Tongda Group Holdings Ltd   5,388,476 
       TOTAL HONG KONG   38,778,147 
              
INDIA - 12.6%        
 223,644     Apollo Hospitals Enterprise Ltd   4,553,088 
 227,520     Bharat Electronics Ltd   4,208,615 
 677,468     Bharat Petroleum Corp Ltd   5,994,775 
 2,275,799     DLF Ltd   5,491,346 
             
88

TIAA-CREF FUNDS - Emerging Markets Equity Fund

 

SHARES      COMPANY  VALUE 
             
 14,272     Eicher Motors Ltd  $4,796,675 
 398,879     HDFC Bank Ltd   7,424,269 
 32,766     HDFC Bank Ltd (ADR)   2,269,701 
 429,510     Housing Development Finance Corp   8,857,027 
 494,479     IndusInd Bank Ltd   8,704,991 
 3,874,948     Infrastructure Development Finance Co Ltd   3,173,256 
 1,136,722     IRB Infrastructure Developers Ltd   3,675,359 
 2,088,141     ITC Ltd   7,899,430 
 547,815     LIC Housing Finance Ltd   4,259,753 
 1,229,862     Mundra Port and Special Economic Zone Ltd   4,271,733 
 1,907,731     Nagarjuna Construction Co   2,331,360 
 1,057,475     Phoenix Mills Ltd   5,705,329 
 1,555,708     Power Grid Corp of India Ltd   4,092,849 
 178,777     PVR Ltd   3,049,501 
 644,549     Reliance Industries Ltd   9,776,881 
 345,888     Shriram Transport Finance Co Ltd   6,619,155 
 725,218     Sobha Developers Ltd   3,624,281 
 219,991     Strides Arcolab Ltd   3,829,557 
 530,472     Sun Pharmaceutical Industries Ltd   6,593,449 
 1,103,186     Tata Motors Ltd   8,327,055 
 354,215     Yes Bank Ltd   6,461,701 
       TOTAL INDIA   135,991,136 
              
INDONESIA - 3.3%     
 6,651,900     Bank Rakyat Indonesia   5,875,487 
 5,740,500     PT Astra International Tbk   3,399,008 
 719,001     PT Gudang Garam Tbk   3,712,755 
 2,770,300     PT Matahari Department Store Tbk   4,227,998 
 55,320,700     PT Pakuwon Jati Tbk   2,758,510 
 19,256,200     PT Summarecon Agung Tbk   2,503,337 
 27,535,300     PT Telekomunikasi Indonesia Persero Tbk   8,963,041 
 17,341,400     PT Waskita Karya Persero Tbk   3,676,100 
       TOTAL INDONESIA   35,116,236 
              
JAPAN - 0.4%     
 195,800  e  W-Scope Corp   4,441,763 
       TOTAL JAPAN   4,441,763 
              
JORDAN - 0.5%        
 158,736     Hikma Pharmaceuticals plc   5,527,292 
       TOTAL JORDAN   5,527,292 
              
KOREA, REPUBLIC OF - 13.8%        
 82,446     CJ E&M Corp   5,234,697 
 52,194  e  Cosmax, Inc   6,762,138 
 51,551     Daelim Industrial Co   3,873,009 
 212,174     Hana Financial Group, Inc   5,224,065 
 364,418     Hynix Semiconductor, Inc   11,221,915 
 53,104     Hyundai Motor Co   6,265,864 
 48,431     Innocean Worldwide, Inc   3,464,198 
 120,230     i-SENS Inc   4,126,343 
 169,943     Korea Electric Power Corp   9,304,172 
89

TIAA-CREF FUNDS - Emerging Markets Equity Fund

 

SHARES      COMPANY  VALUE 
              
 10,629     LG Household & Health Care Ltd  $9,573,800 
 228,484     LG.Philips LCD Co Ltd   6,334,798 
 66,640  *  Loen Entertainment, Inc   4,824,399 
 94,857     Maeil Dairy Industry Co Ltd   3,283,786 
 14,619     Mando Corp   3,399,248 
 10,910     Medy-Tox, Inc   4,226,532 
 55,439  *  Osstem Implant Co Ltd   3,774,898 
 133,624     Samsung Card Co   5,160,514 
 38,672     Samsung Electronics Co Ltd   53,211,788 
       TOTAL KOREA, REPUBLIC OF   149,266,164 
              
MALAYSIA - 0.4%        
 6,987,025     Karex BHD   4,104,328 
       TOTAL MALAYSIA   4,104,328 
              
MEXICO - 5.2%        
 3,032,500     Alpek SAB de C.V.   5,376,016 
 804,500     Banregio Grupo Financiero SAB de C.V.   4,609,034 
 9,362,600  *  Cemex S.A. de C.V.   7,135,549 
 854,200     Fomento Economico Mexicano S.A. de C.V.   7,642,243 
 2,290,800  e  Gentera SAB de C.V.   4,256,612 
 364,155     Gruma SAB de C.V.   5,237,423 
 772,455     Grupo Aeroportuario del Centro Norte Sab de C.V.   4,804,052 
 1,350,480     Grupo Financiero Banorte S.A. de C.V.   7,396,309 
 1,243,622     Servicios Corporativos Javer SAPI de C.V.   1,177,295 
 2,073,046  e  Unifin Financiera SAPI de C.V. SOFOM ENR   5,438,567 
 1,449,500     Wal-Mart de Mexico SAB de C.V.   3,312,591 
       TOTAL MEXICO   56,385,691 
              
NETHERLANDS - 0.8%        
 1,292,886     Steinhoff International Holdings NV   8,177,681 
       TOTAL NETHERLANDS   8,177,681 
              
PAKISTAN - 1.1%        
 1,019,200     Engro Chemical Pakistan Ltd   3,255,250 
 1,330,000     Kohinoor Textile Mills Ltd   1,089,757 
 3,504,000     Maple Leaf Cement Factory Ltd   3,773,458 
 2,129,600     United Bank Ltd   3,766,419 
       TOTAL PAKISTAN   11,884,884 
              
PERU - 1.0%        
 309,229  *  Cia de Minas Buenaventura S.A. (ADR) (Series B)   4,530,205 
 39,258     Credicorp Ltd (NY)   6,294,235 
       TOTAL PERU   10,824,440 
           
PHILIPPINES - 3.1%      
 12,450,550     Century Pacific Food, Inc   4,434,732 
 1,420,850     Concepcion Industrial Corp   1,749,295 
 10,714,900     D&L Industries Inc   2,259,477 
 165,860     GT Capital Holdings, Inc   5,424,279 
 11,145,300     Integrated Micro-Electronics, Inc   1,358,046 
 31,094,100     Metro Pacific Investments Corp   4,955,303 
             
90

TIAA-CREF FUNDS - Emerging Markets Equity Fund

 

SHARES      COMPANY  VALUE 
             
 138,252     Philippine Stock Exchange, Inc  $827,575 
 1,865,750     Robinsons Retail Holdings, Inc   3,414,061 
 8,743,275     SM Prime Holdings   5,426,213 
 951,607     Universal Robina   4,051,384 
       TOTAL PHILIPPINES   33,900,365 
             
POLAND - 0.4%     
 2,198,047  *  Globe Trade Centre S.A.   3,976,554 
       TOTAL POLAND   3,976,554 
             
RUSSIA - 4.4%      
 172,623     LUKOIL PJSC (ADR)   7,430,088 
 93,103     NovaTek OAO (GDR)   9,358,468 
 311,176     PhosAgro OAO (ADR)   4,294,229 
 692,528     Rosneft Oil Co (GDR)   3,367,357 
 1,514,418     Sberbank of Russian Federation (ADR)   13,195,451 
 402,620     TCS Group Holding plc (ADR)   2,414,664 
 182,284  *  X 5 Retail Group NV (GDR)   3,976,406 
 167,229  *  Yandex NV   3,620,508 
       TOTAL RUSSIA   47,657,171 
             
SINGAPORE - 0.2%      
 1,402,000     Petra Foods Ltd   2,582,934 
       TOTAL SINGAPORE   2,582,934 
             
SOUTH AFRICA - 3.5%     
 466,335  *  AngloGold Ashanti Ltd   10,183,377 
 174,968     Naspers Ltd (N Shares)   27,456,552 
       TOTAL SOUTH AFRICA   37,639,929 
             
TAIWAN - 8.8%      
 7,235,000     Advanced Semiconductor Engineering, Inc   8,540,847 
 1,593,000     Basso Industry Corp   4,977,207 
 720,000  *  Bizlink Holdings Inc   4,433,298 
 423,000     Eclat Textile Co Ltd   4,741,474 
 2,620,700     Hon Hai Precision Industry Co, Ltd   7,232,097 
 1,902,636     Hota Industrial Manufacturing Co Ltd   8,667,341 
 97,000     Largan Precision Co Ltd   10,428,283 
 8,006,000     Taiwan Semiconductor Manufacturing Co Ltd   43,245,911 
 516,700  *  VHQ Media Holdings Ltd   2,223,866 
       TOTAL TAIWAN   94,490,324 
             
THAILAND - 3.6%     
 25,677,000     Asia Aviation PCL (ADR)   4,933,632 
 23,494,630     Beauty Community PCL (ADR)   6,620,613 
 3,514,800     CP Seven Eleven PCL (ADR)   5,232,108 
 1,033,800     Kasikornbank PCL - (NVDR)   5,877,229 
 5,697,831     Minor International PCL (ADR)   6,674,942 
 1,774,900     PTT Exploration & Production PCL (ADR)   4,254,613 
 604,500     PTT PCL (ADR)   5,781,250 
       TOTAL THAILAND   39,374,387 
91

TIAA-CREF FUNDS - Emerging Markets Equity Fund

 

SHARES      COMPANY  VALUE 
              
TURKEY - 0.5%        
 235,988     Coca-Cola Icecek AS  $2,929,878 
 141,055     Tupras Turkiye Petrol Rafine   3,018,709 
       TOTAL TURKEY   5,948,587 
              
UNITED ARAB EMIRATES - 0.5%     
 357,550     NMC Health plc   5,228,854 
       TOTAL UNITED ARAB EMIRATES   5,228,854 
              
UNITED KINGDOM - 0.4%     
 400,542     Anglo American plc   4,438,064 
       TOTAL UNITED KINGDOM   4,438,064 
              
UNITED STATES - 0.4%        
 49,608     Yum! Brands, Inc   4,435,947 
       TOTAL UNITED STATES   4,435,947 
              
VIETNAM - 0.4%        
 688,490     Mobile World Investment Corp   4,140,151 
       TOTAL VIETNAM   4,140,151 
             
       TOTAL COMMON STOCKS   1,079,252,833 
       (Cost $958,230,546)     
             
              
PREFERRED STOCKS - 0.0%     
              
PHILIPPINES - 0.0%        
 1,721,900  *,m  Ayala Land, Inc (Preferred B)   3,655 
       TOTAL PHILIPPINES   3,655 
             
       TOTAL PREFERRED STOCKS   3,655 
       (Cost $4,057)     
             
RIGHTS / WARRANTS - 0.0%        
THAILAND - 0.0%        
 214,931     Minor International PCL   41,344 
       TOTAL THAILAND   41,344 
             
       TOTAL RIGHTS / WARRANTS   41,344 
       (Cost $0)     
             
SHORT-TERM INVESTMENTS - 2.7%     
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.7%     
 29,219,827  c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		   29,219,827 
       TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   29,219,827 
       TOTAL SHORT-TERM INVESTMENTS   29,219,827 
       (Cost $29,219,827)     
       TOTAL INVESTMENTS - 102.8%   1,109,019,394 
       (Cost $987,988,430)     
       OTHER ASSETS & LIABILITIES, NET - (2.8)%   (29,979,282)
       NET ASSETS - 100.0%  $1,079,040,112 
92

TIAA-CREF FUNDS - Emerging Markets Equity Fund

 

       
     
    Abbreviation(s):
    ADR         American Depositary Receipt
    GDR         Global Depositary Receipt
  NVDR      Non-Voting Depository Receipt
     
*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $24,440,006.
g   Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 7/31/16, the aggregate value of these securities was $10,144,539 or 0.9% of net assets.
m   Indicates a security that has been deemed illiquid.
93

TIAA-CREF FUNDS - Emerging Markets Equity Fund

 

TIAA-CREF FUNDS

EMERGING MARKETS EQUITY FUND

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

July 31, 2016

 

SECTOR  VALUE   % OF
NET ASSETS		 
FINANCIALS  $280,354,979    26.0%
INFORMATION TECHNOLOGY   252,541,636    23.4 
CONSUMER DISCRETIONARY   163,966,128    15.2 
CONSUMER STAPLES   87,706,773    8.1 
ENERGY   82,164,634    7.6 
MATERIALS   58,373,617    5.4 
INDUSTRIALS   50,506,780    4.7 
HEALTH CARE   41,410,214    3.8 
UTILITIES   33,942,541    3.2 
TELECOMMUNICATION SERVICES   28,832,265    2.7 
SHORT - TERM INVESTMENTS   29,219,827    2.7 
OTHER ASSETS & LIABILITIES, NET   (29,979,282)   (2.8)
           
NET ASSETS  $1,079,040,112    100.0%
94

TIAA-CREF FUNDS - Enhanced International Equity Index Fund

 

TIAA-CREF FUNDS

ENHANCED INTERNATIONAL EQUITY INDEX FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES       COMPANY  VALUE  
       
COMMON STOCKS - 99.7%   
       
AUSTRALIA - 7.6%
 823,443      Amcor Ltd  $9,410,437 
 89,458      Aristocrat Leisure Ltd   1,085,745 
 846,329      Australia & New Zealand Banking Group Ltd   16,651,064 
 282,098      BHP Billiton Ltd   4,181,307 
 32,433      BHP Billiton plc   408,932 
 77,345      Brambles Ltd   791,217 
 140,862      Caltex Australia Ltd   3,562,266 
 188,402      Challenger Financial Services Group Ltd   1,362,315 
 238,998      Coca-Cola Amatil Ltd   1,671,915 
 144,801      Commonwealth Bank of Australia   8,523,943 
 55,977      Computershare Ltd   377,955 
 82,955      CSL Ltd   7,438,960 
 4,937   e  Flight Centre Travel Group Ltd   120,990 
 234,330      Fortescue Metals Group Ltd   799,213 
 364,771      Harvey Norman Holdings Ltd   1,341,934 
 364,679      Lend Lease Corp Ltd   3,722,104 
 1,094,503      Macquarie Goodman Group   6,277,403 
 145,164      Oil Search Ltd   795,472 
 93,747      Origin Energy Ltd   395,302 
 2,665,576      Qantas Airways Ltd   6,399,875 
 3,122,861      Scentre Group   12,586,596 
 185,685      Seek Ltd   2,362,733 
 743,944      Tabcorp Holdings Ltd   2,768,128 
 1,298,338      Telstra Corp Ltd   5,694,640 
 301,084      Westpac Banking Corp   7,124,350 
        TOTAL AUSTRALIA   105,854,796 
               
AUSTRIA - 0.0%
 77,055   *,e,m  Immoeast AG.   0 
        TOTAL AUSTRIA   0 
               
BELGIUM - 1.0%
 46,367      Anheuser-Busch InBev NV   5,990,252 
 19,548      Colruyt S.A.   1,090,422 
 39,972      UCB S.A.   3,127,567 
 65,499      Umicore   3,789,748 
        TOTAL BELGIUM   13,997,989 
               
DENMARK - 2.1%
 130,342      Novo Nordisk AS   7,412,065 
 72,085      Pandora AS   9,389,150 
 173,732      Vestas Wind Systems AS   12,145,746 
        TOTAL DENMARK   28,946,961 
95

TIAA-CREF FUNDS - Enhanced International Equity Index Fund

 

SHARES       COMPANY  VALUE  
               
FINLAND - 1.3%
 95,212      Elisa Oyj (Series A)  $3,454,341 
 5,843      Kone Oyj (Class B)   296,059 
 68,205      Neste Oil Oyj   2,588,345 
 300,515      Stora Enso Oyj (R Shares)   2,730,023 
 427,253      UPM-Kymmene Oyj   8,811,020 
        TOTAL FINLAND   17,879,788 
               
FRANCE - 10.0%
 60,637      Arkema   5,179,257 
 86,302      Atos Origin S.A.   8,459,804 
 702,049      AXA S.A.   14,288,347 
 152,003      BNP Paribas   7,540,000 
 128,751      Cap Gemini S.A.   12,376,005 
 8,637      Christian Dior S.A.   1,562,120 
 126,361      CNP Assurances   1,930,585 
 25,941      Eurazeo   1,658,511 
 35,074      Michelin (C.G.D.E.) (Class B)   3,584,836 
 35,673      Publicis Groupe S.A.   2,656,404 
 250,440      Sanofi-Aventis   21,330,797 
 113,991      SCOR SE   3,330,094 
 236,610      Societe Generale   8,066,915 
 243,203      Total S.A.   11,696,562 
 232,455      Valeo S.A.   11,925,205 
 199,266      Vinci S.A.   15,145,250 
 429,421      Vivendi Universal S.A.   8,431,981 
        TOTAL FRANCE   139,162,673 
               
GERMANY - 9.1%
 123,733      Allianz AG.   17,729,044 
 69,974      BASF SE   5,496,568 
 35,392      Bayer AG.   3,804,564 
 36,730      Bayerische Motoren Werke AG.   3,164,806 
 45,645      Continental AG.   9,572,547 
 149,966   g  Covestro AG.   7,009,880 
 237,276      Daimler AG. (Registered)   16,130,989 
 750,193      Deutsche Telekom AG.   12,762,711 
 510,354      E.ON AG.   5,473,479 
 187,290      Evonik Industries AG.   5,842,256 
 46,180      Fresenius SE   3,449,543 
 42,396      Hannover Rueckversicherung AG.   4,336,450 
 73,173      HeidelbergCement AG.   6,198,544 
 147,048      Metro AG.   4,731,027 
 73,320      Osram Licht AG.   3,814,641 
 54,025      ProSiebenSat. Media AG.   2,474,709 
 31,627      SAP AG.   2,768,102 
 17,768      Schaeffler AG.   259,308 
 98,618      Siemens AG.   10,704,633 
 52,810      TUI AG. (DI)   687,526 
 1,223      Volkswagen AG.   180,849 
        TOTAL GERMANY   126,592,176 
96

TIAA-CREF FUNDS - Enhanced International Equity Index Fund

 

SHARES       COMPANY  VALUE  
               
HONG KONG - 3.3%
 295,000      AIA Group Ltd  $1,837,611 
 657,340      CK Hutchison Holdings Ltd   7,704,635 
 926,000      CLP Holdings Ltd   9,650,672 
 405,900      Henderson Land Development Co Ltd   2,422,900 
 20,300      Melco Crown Entertainment Ltd (ADR)   283,388 
 1,336,864      Sino Land Co   2,391,991 
 349,000      Sun Hung Kai Properties Ltd   5,007,609 
 5,384,000   g  WH Group Ltd   4,251,766 
 1,259,000      Wharf Holdings Ltd   8,700,934 
 378,000      Wheelock & Co Ltd   2,026,987 
 378,500      Yue Yuen Industrial Holdings   1,538,032 
        TOTAL HONG KONG   45,816,525 
               
IRELAND - 0.5%
 18,227   *  AerCap Holdings NV   665,468 
 122,187      Experian Group Ltd   2,390,042 
 3,219      Kerry Group plc (Class A)   275,433 
 4,821      Paddy Power plc   565,434 
 46,655      Ryanair Holdings plc (ADR)   3,301,774 
        TOTAL IRELAND   7,198,151 
               
ISRAEL - 0.7%
 67,951      Bank Hapoalim Ltd   346,389 
 245,914   *  Bank Leumi Le-Israel   886,113 
 584,030      Bezeq Israeli Telecommunication Corp Ltd   1,159,093 
 14,041   *  Check Point Software Technologies   1,079,472 
 25,187      Mizrahi Tefahot Bank Ltd   305,956 
 100,236      Teva Pharmaceutical Industries Ltd   5,486,171 
        TOTAL ISRAEL   9,263,194 
               
ITALY - 2.2%
 2,411,192      Banca Intesa S.p.A. RSP   5,036,753 
 2,391,831      Enel S.p.A.   11,008,564 
 457,016      ENI S.p.A.   7,010,635 
 13,350      Ferrari NV   604,359 
 1,047,442   g  Poste Italiane S.p.A   7,298,395 
        TOTAL ITALY   30,958,706 
               
JAPAN - 23.3%
 189,200      Aeon Co Ltd   2,718,648 
 134,100      Alfresa Holdings Corp   2,939,873 
 292,000      All Nippon Airways Co Ltd   833,525 
 1,386,000      Aozora Bank Ltd   5,085,794 
 1,476,000      Asahi Glass Co Ltd   8,479,252 
 198,000      Asahi Kasei Corp   1,496,586 
 702,600      Astellas Pharma, Inc   11,706,530 
 111,700      Bridgestone Corp   3,868,276 
 268,300      Brother Industries Ltd   3,048,974 
 7,900      Central Japan Railway Co   1,468,399 
 213,200      Chubu Electric Power Co, Inc   3,132,258 
 127,900   *  Concordia Financial Group Ltd   543,657 
 53,600      Daicel Chemical Industries Ltd   601,091 
97

TIAA-CREF FUNDS - Enhanced International Equity Index Fund

 

SHARES       COMPANY  VALUE  
               
 8,900      Daiichi Sankyo Co Ltd  $212,233 
 250,200      Daiwa House Industry Co Ltd   7,015,820 
 236,000      Fuji Electric Holdings Co Ltd   1,041,617 
 166,200      Fuji Heavy Industries Ltd   6,349,633 
 60,400      Hankyu Hanshin Holdings, Inc   2,247,080 
 32,200      Hitachi Chemical Co Ltd   671,648 
 976,700      Itochu Corp   11,073,679 
 323,700      Japan Airlines Co Ltd   9,979,278 
 230,100   *  Japan Post Bank Co Ltd   2,807,769 
 371,100      Japan Tobacco, Inc   14,472,796 
 438,500      JX Holdings, Inc   1,661,420 
 632,000      Kajima Corp   4,671,631 
 154,500      Kao Corp   8,320,318 
 642,000      Kawasaki Heavy Industries Ltd   1,888,685 
 191,000      KDDI Corp   5,861,237 
 11,300      Keyence Corp   7,970,719 
 307,500      Kuraray Co Ltd   3,878,202 
 240,000      Kyushu Financial Group, Inc   1,325,943 
 29,300      M3, Inc   937,571 
 964,200      Matsushita Electric Industrial Co Ltd   9,272,405 
 27,800      Mazda Motor Corp   406,575 
 73,100      Mediceo Paltac Holdings Co Ltd   1,196,218 
 7,100      MEIJI Holdings Co Ltd   740,219 
 44,000      Minebea Co Ltd   348,935 
 86,000      Mitsubishi Electric Corp   1,002,627 
 516,000      Mitsubishi Gas Chemical Co, Inc   2,939,771 
 451,000      Mitsubishi Materials Corp   1,185,201 
 1,090,500      Mitsubishi Motors Corp   5,083,381 
 160,600      Mitsubishi UFJ Financial Group, Inc   811,917 
 237,000      Mitsui Chemicals, Inc   1,002,467 
 446,800      Mitsui Sumitomo Insurance Group Holdings, Inc   12,873,081 
 548,000      Mitsui Trust Holdings, Inc   1,821,122 
 124,500      Mixi Inc   4,459,972 
 34,700      Murata Manufacturing Co Ltd   4,236,927 
 114,000      NEC Corp   311,319 
 798,000      Nippon Electric Glass Co Ltd   3,622,664 
 258,300      Nippon Telegraph & Telephone Corp   12,274,352 
 1,339,900      Nissan Motor Co Ltd   12,981,582 
 225,200      Nomura Real Estate Holdings, Inc   3,883,833 
 374      Nomura Real Estate Master Fund, Inc   619,801 
 87,500   *  Nomura Research Institute Ltd   3,086,180 
 70,700      NSK Ltd   594,692 
 91,400      NTT DoCoMo, Inc   2,482,820 
 205,500      Obayashi Corp   2,247,501 
 220,300      Osaka Securities Exchange Co Ltd   3,104,725 
 183,700      Otsuka Holdings KK   8,733,086 
 2,400      Pola Orbis Holdings, Inc   236,252 
 292,800      SBI Holdings, Inc   3,170,788 
 233,500   e  Sekisui House Ltd   3,890,408 
 16,900      Shoei Co Ltd   175,300 
 149,000      Sony Corp   4,891,206 
 67,000      Sumitomo Chemical Co Ltd   296,540 
 466,000      Sumitomo Heavy Industries Ltd   2,210,910 
98

TIAA-CREF FUNDS - Enhanced International Equity Index Fund

 

SHARES       COMPANY  VALUE  
               
 3,900      Sundrug Co Ltd  $338,312 
 52,200      Suzuken Co Ltd   1,664,869 
 7,900      Suzuki Motor Corp   241,932 
 1,029,000      Taisei Corp   9,254,060 
 223,300      Taiyo Nippon Sanso Corp   2,149,354 
 45,000      Tanabe Seiyaku Co Ltd   840,028 
 1,064,000      Teijin Ltd   4,001,841 
 340,100      Tohoku Electric Power Co, Inc   4,369,309 
 316,500      Tokio Marine Holdings, Inc   12,250,837 
 75,700      Tokyo Electron Ltd   6,503,719 
 45,000      TonenGeneral Sekiyu KK   406,539 
 51,400      Toyota Industries Corp   2,307,110 
 314,200      Toyota Motor Corp   17,606,132 
 3,900      Tsuruha Holdings, Inc   443,481 
 116,500      West Japan Railway Co   7,206,352 
        TOTAL JAPAN   324,088,794 
               
JORDAN - 0.1%
 35,803      Hikma Pharmaceuticals plc   1,246,684 
        TOTAL JORDAN   1,246,684 
               
LUXEMBOURG - 0.2%
 36,392      Millicom International Cellular S.A.   1,943,109 
 4,098      RTL Group   349,380 
        TOTAL LUXEMBOURG   2,292,489 
               
NETHERLANDS - 4.2%
 238,101   g  ABN AMRO Group NV (ADR)   4,427,800 
 11,825   *  Altice NV (Class B)   174,973 
 788,631      ING Groep NV   8,816,898 
 717,315      Koninklijke Ahold Delhaize NV   17,125,311 
 33,021   *  NXP Semiconductors NV   2,776,736 
 472,659      Royal Dutch Shell plc (A Shares)   12,204,151 
 443,988      Royal Dutch Shell plc (B Shares)   11,809,511 
 216,022      Royal KPN NV   710,517 
        TOTAL NETHERLANDS   58,045,897 
               
NEW ZEALAND - 0.1%
 48,401      Fletcher Building Ltd   338,803 
 23,011      Ryman Healthcare Ltd   158,560 
 490,173      Telecom Corp of New Zealand Ltd   1,398,582 
        TOTAL NEW ZEALAND   1,895,945 
               
NORWAY - 0.9%
 390,053      PAN Fish ASA   6,652,391 
 9,437      Schibsted ASA (B Shares)   278,413 
 359,837      Telenor ASA   6,024,229 
        TOTAL NORWAY   12,955,033 
               
SINGAPORE - 1.3%
 639,400      CapitaLand Ltd   1,518,150 
 1,047,100      DBS Group Holdings Ltd   12,105,360 
99

TIAA-CREF FUNDS - Enhanced International Equity Index Fund

 

SHARES       COMPANY  VALUE  
               
 48,300      Jardine Cycle & Carriage Ltd  $1,419,042 
 104,200      StarHub Ltd   305,188 
 1,226,400      Wilmar International Ltd   2,845,336 
        TOTAL SINGAPORE   18,193,076 
               
SOUTH AFRICA - 0.5%
 370,403      Investec plc   2,204,733 
 243,911      Mondi plc   4,936,076 
        TOTAL SOUTH AFRICA   7,140,809 
               
SPAIN - 2.7%
 672,248      Abertis Infraestructuras S.A. (Continuous)   10,575,303 
 146,301      ACS Actividades Construccion y Servicios S.A.   4,195,243 
 81,038   g  Aena S.A.   11,689,045 
 991,977      CaixaBank S.A.   2,490,838 
 29,192      Enagas   889,973 
 20,361   *,m  Iberdrola S.A.   139,897 
 916,231      Iberdrola S.A.   6,295,359 
 12,609      Industria De Diseno Textil S.A.   436,066 
        TOTAL SPAIN   36,711,724 
               
SWEDEN - 2.5%
 1,174,739      Ericsson (LM) (B Shares)   8,760,478 
 90,744   e  ICA Gruppen AB   3,036,136 
 307,990      Investor AB (B Shares)   10,607,757 
 224,796   *  Lundin Petroleum AB   3,726,580 
 129,552      Nordea Bank AB   1,154,265 
 29,694      Skanska AB (B Shares)   631,248 
 175,800      Swedish Match AB   6,413,151 
 76,948      TeliaSonera AB   351,126 
        TOTAL SWEDEN   34,680,741 
               
SWITZERLAND - 8.7%
 714,209      ABB Ltd   15,171,286 
 12,247      Actelion Ltd   2,169,332 
 12,887      Lonza Group AG.   2,426,884 
 444,350      Nestle S.A.   35,606,909 
 257,208      Novartis AG.   21,333,639 
 115,058      Roche Holding AG.   29,370,620 
 4,954      Swiss Life Holding   1,130,055 
 158,823      Swiss Re Ltd   13,313,577 
 3,230      Wolseley plc   180,099 
        TOTAL SWITZERLAND   120,702,401 
               
UNITED KINGDOM - 17.1%
 594,698      3i Group plc   4,857,393 
 1,096,566      Anglo American plc (London)   12,009,760 
 165,012   e  AstraZeneca plc (ADR)   5,633,510 
 1,687,697      Aviva plc   8,690,857 
 148,178      BAE Systems plc   1,046,222 
 116,022      Barratt Developments plc   671,825 
 92,489      Berkeley Group Holdings plc   3,280,656 
100

TIAA-CREF FUNDS - Enhanced International Equity Index Fund

 

SHARES       COMPANY  VALUE  
               
 343,155   e  BP plc (ADR)  $11,804,532 
 374,920      British American Tobacco plc   23,929,196 
 1,724,206      BT Group plc   9,420,085 
 23,639   *  Coca-Cola European Partners plc   891,827 
 79,336      Compass Group plc   1,507,210 
 36,055      Croda International plc   1,585,482 
 80,474      Diageo plc   2,306,116 
 1,033,699      Direct Line Insurance Group plc   4,783,010 
 406,989      easyJet plc   5,598,100 
 95,262   e  Fiat DaimlerChrysler Automobiles NV   614,544 
 1,016,651      GlaxoSmithKline plc   22,704,886 
 1,206,198      HSBC Holdings plc   7,906,257 
 297,960      Imperial Tobacco Group plc   15,701,584 
 86,075      International Consolidated Airlines Group S.A.   464,196 
 168,252      Legal & General Group plc   457,707 
 875,358      National Grid plc   12,551,604 
 2,668,834      Old Mutual plc   7,426,752 
 290,711      Persimmon plc   6,490,867 
 730,728      Prudential plc   12,881,609 
 76,077      Reckitt Benckiser Group plc   7,376,431 
 41,526      Rio Tinto plc   1,347,610 
 686,037      Royal Mail plc   4,626,051 
 597,356      Sage Group plc   5,632,709 
 395,366      Segro plc   2,316,596 
 17,464      Shire Ltd   1,128,217 
 717,610      Sky plc   8,739,330 
 83,364      Smiths Group plc   1,393,456 
 102,748      Unilever NV   4,759,734 
 97,503      Unilever plc   4,561,487 
 189,923   e  Vodafone Group plc (ADR)   5,868,621 
 216,804      WPP plc   4,864,545 
        TOTAL UNITED KINGDOM   237,830,574 
               
UNITED STATES - 0.3%
 35,000      iShares MSCI EAFE Index Fund   2,030,700 
 18,772   *,e  Mobileye NV   899,367 
 23,419   *  Qiagen NV   614,769 
 1,642   *,e  Taro Pharmaceutical Industries Ltd   229,814 
        TOTAL UNITED STATES   3,774,650 
              
        TOTAL COMMON STOCKS   1,385,229,776 
        (Cost $1,313,660,619)     
              
PRINCIPAL     ISSUER  RATE  MATURITY DATE    
SHORT-TERM INVESTMENTS - 2.7%
GOVERNMENT AGENCY DEBT - 0.7%
$9,500,000     Federal Home Loan Bank (FHLB)   0.150%  08/01/08   9,500,000 
       TOTAL GOVERNMENT AGENCY DEBT           9,500,000 
101

TIAA-CREF FUNDS - Enhanced International Equity Index Fund

 

SHARES     COMPANY          VALUE 
                   
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.0%             
 28,244,224  c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		  $28,244,224 
       TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES     28,244,224 
       TOTAL SHORT-TERM INVESTMENTS           37,744,224 
       (Cost $37,744,224)             
                     
       TOTAL INVESTMENTS - 102.4%           1,422,974,000 
       (Cost $1,351,404,843)             
       OTHER ASSETS & LIABILITIES, NET - (2.4)%           (33,737,681)
       NET ASSETS - 100.0%          $1,389,236,319 
       
       
    Abbreviation(s):
    ADR    American Depositary Receipt
     
*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $27,674,791.
g   Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 7/31/16, the aggregate value of these securities was $34,676,886 or 2.5% of net assets.
m   Indicates a security that has been deemed illiquid.
102

TIAA-CREF FUNDS - Enhanced International Equity Index Fund

 

TIAA-CREF FUNDS

ENHANCED INTERNATIONAL EQUITY INDEX FUND

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

July 31, 2016

 

        % OF  
SECTOR  VALUE   NET ASSETS 
FINANCIALS  $316,000,060    22.7%
INDUSTRIALS   185,840,545    13.4 
CONSUMER STAPLES   176,486,450    12.7 
CONSUMER DISCRETIONARY   174,053,931    12.5 
HEALTH CARE   167,296,990    12.0 
MATERIALS   98,297,617    7.1 
INFORMATION TECHNOLOGY   76,371,102    5.5 
TELECOMMUNICATION SERVICES   69,710,651    5.0 
ENERGY   67,661,315    4.9 
UTILITIES   53,511,115    3.9 
SHORT - TERM INVESTMENTS   37,744,224    2.7 
OTHER ASSETS & LIABILITIES, NET   (33,737,681)   (2.4)
           
NET ASSETS  $1,389,236,319    100.0%
103

TIAA-CREF FUNDS - Global Natural Resources Fund

 

TIAA-CREF FUNDS

GLOBAL NATURAL RESOURCES FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES       COMPANY  VALUE 
               
COMMON STOCKS - 99.1%      
               
AUSTRALIA - 7.9%      
 387,490      BHP Billiton plc  $4,885,678 
 170,000      BlueScope Steel Ltd   1,096,719 
 2,179,608      Fortescue Metals Group Ltd   7,433,836 
 1,236,380      Northern Star Resources Ltd   5,053,305 
 190,000      Oil Search Ltd   1,041,165 
 3,204,998   *  South32 Ltd   4,519,315 
        TOTAL AUSTRALIA   24,030,018 
               
BRAZIL - 1.7%      
 1,231,000   *  Petroleo Brasileiro S.A.   5,318,995 
        TOTAL BRAZIL   5,318,995 
               
CANADA - 13.3%      
 361,000   *  Advantage Oil & Gas Ltd   2,283,813 
 104,233      Agnico-Eagle Mines Ltd   6,065,656 
 223,170      Barrick Gold Corp (Canada)   4,873,111 
 51,660      Canadian Natural Resources Ltd (Canada)   1,564,460 
 219,791      Cenovus Energy, Inc (Toronto)   3,146,244 
 336,772      First Quantum Minerals Ltd   2,912,079 
 83,200   e  Peyto Exploration & Development Corp   2,364,125 
 181,793   *  Seven Generations Energy Ltd   3,815,056 
 116,148      Silver Wheaton Corp   3,242,519 
 178,500      Teck Cominco Ltd   2,845,008 
 27,500      TransCanada Corp   1,275,112 
 1,060,100   *  Turquoise Hill Resources Ltd   3,775,487 
 67,700      West Fraser Timber Co Ltd   2,326,061 
        TOTAL CANADA   40,488,731 
               
CHILE - 1.6%      
 200,880      Sociedad Quimica y Minera de Chile S.A. (ADR)   4,977,806 
        TOTAL CHILE   4,977,806 
               
FAROE ISLANDS - 1.0%      
 81,637      Bakkafrost P   3,180,622 
        TOTAL FAROE ISLANDS   3,180,622 
               
FINLAND - 1.8%
 266,939      UPM-Kymmene Oyj   5,504,947 
        TOTAL FINLAND   5,504,947 
               
GERMANY - 0.5%      
 70,000      ThyssenKrupp AG.   1,605,277 
        TOTAL GERMANY   1,605,277 
104

TIAA-CREF FUNDS - Global Natural Resources Fund

 

SHARES       COMPANY  VALUE 
               
HONG KONG - 0.4%     
 1,330,000      Nine Dragons Paper Holdings Ltd  $1,060,319 
        TOTAL HONG KONG   1,060,319 
              
INDIA - 0.6%     
 205,700      United Phosphorus Ltd   1,925,110 
        TOTAL INDIA   1,925,110 
              
INDONESIA - 0.7%     
 2,770,000      PT Tambang Batubara Bukit Asam Tbk   2,093,519 
        TOTAL INDONESIA   2,093,519 
              
ITALY - 0.8%     
 156,712      ENI S.p.A.   2,403,966 
        TOTAL ITALY   2,403,966 
              
JAPAN - 0.8%     
 65,909      Maruichi Steel Tube Ltd   2,434,978 
        TOTAL JAPAN   2,434,978 
              
JERSEY, C.I. - 0.7%     
 19,064      Randgold Resources Ltd   2,243,414 
        TOTAL JERSEY, C.I.   2,243,414 
              
LUXEMBOURG - 1.5%     
 721,600   *  ArcelorMittal   4,674,437 
        TOTAL LUXEMBOURG   4,674,437 
              
MEXICO - 0.6%     
 68,800      Fresnillo plc   1,760,584 
        TOTAL MEXICO   1,760,584 
              
NETHERLANDS - 1.4%     
 160,830      Royal Dutch Shell plc (A Shares)   4,152,663 
        TOTAL NETHERLANDS   4,152,663 
              
NORWAY - 2.9%     
 360,806   *  Det Norske Oljeselskap ASA   4,611,300 
 131,247      Salmar ASA   4,092,924 
        TOTAL NORWAY   8,704,224 
              
PORTUGAL - 1.7%     
 375,481      Galp Energia SGPS S.A.   5,143,335 
        TOTAL PORTUGAL   5,143,335 
              
RUSSIA - 1.7%     
 28,320      LUKOIL PJSC (ADR)   1,218,957 
 139,300      MMC Norilsk Nickel PJSC (ADR)   2,039,344 
 19,356      NovaTek OAO (GDR)   1,945,614 
        TOTAL RUSSIA   5,203,915 
105

TIAA-CREF FUNDS - Global Natural Resources Fund

 

SHARES       COMPANY  VALUE 
               
SOUTH AFRICA - 3.8%     
 53,000   *  Anglo American Platinum Ltd  $1,685,089 
 185,013   *  AngloGold Ashanti Ltd   4,040,137 
 217,458      Mondi plc   4,400,741 
 280,000   *  Sappi Ltd   1,424,483 
        TOTAL SOUTH AFRICA   11,550,450 
              
SWEDEN - 1.8%     
 74,000      Billerud AB   1,286,241 
 196,197      Boliden AB   4,318,315 
        TOTAL SWEDEN   5,604,556 
              
SWITZERLAND - 6.2%     
 2,113,797      Glencore Xstrata plc   5,217,102 
 34,417      Syngenta AG.   13,535,697 
        TOTAL SWITZERLAND   18,752,799 
              
THAILAND - 1.1%     
 340,800      PTT PCL (Foreign)   3,260,765 
        TOTAL THAILAND   3,260,765 
              
TURKEY - 0.5%     
 925,000      Eregli Demir ve Celik Fabrikalari TAS   1,407,897 
        TOTAL TURKEY   1,407,897 
              
UNITED KINGDOM - 3.4%     
 677,753      Anglo American plc (London)   7,422,856 
 94,059      Rio Tinto plc   3,052,422 
        TOTAL UNITED KINGDOM   10,475,278 
              
UNITED STATES - 40.7%     
 34,710      Apache Corp   1,822,275 
 218,046      Archer Daniels Midland Co   9,829,514 
 410,394   *  Callon Petroleum Co   4,674,388 
 82,276      CF Industries Holdings, Inc   2,030,572 
 28,986      Cimarex Energy Co   3,478,900 
 44,364   *  Concho Resources, Inc   5,510,009 
 104,045   *,e  Continental Resources, Inc   4,583,182 
 34,400      Energen Corp   1,629,872 
 33,494      EOG Resources, Inc   2,736,460 
 48,928      EQT Corp   3,564,894 
 122,312      Exxon Mobil Corp   10,879,652 
 90,377      FMC Corp   4,296,523 
 61,000   *  Gulfport Energy Corp   1,774,490 
 28,400      Ingredion, Inc   3,784,016 
 201,502      Monsanto Co   21,514,368 
 98,216   *  Newfield Exploration Co   4,252,753 
 5,029      NewMarket Corp   2,152,110 
 218,245      Newmont Mining Corp   9,602,780 
 37,899      Occidental Petroleum Corp   2,832,192 
 199,023   *  Parsley Energy, Inc   5,674,146 
 9,669      Pioneer Natural Resources Co   1,571,889 
106

TIAA-CREF FUNDS - Global Natural Resources Fund

 

SHARES       COMPANY  VALUE 
               
 173,219   *  RSP Permian, Inc  $6,227,223 
 15,957   e  Texas Pacific Land Trust   2,553,120 
 33,751      Toro Co   3,103,404 
 399,915   *  WPX Energy, Inc   3,995,151 
        TOTAL UNITED STATES   124,073,883 
              
        TOTAL COMMON STOCKS   302,032,488 
        (Cost $254,809,101)     
              
SHORT-TERM INVESTMENTS - 1.5%     
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.5%     
 4,680,957   c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		   4,680,957 
        TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   4,680,957 
        TOTAL SHORT-TERM INVESTMENTS   4,680,957 
        (Cost $4,680,957)     
              
        TOTAL INVESTMENTS - 100.6%   306,713,445 
        (Cost $259,490,058)     
        OTHER ASSETS & LIABILITIES, NET - (0.6)%   (1,927,184)
        NET ASSETS - 100.0%  $304,786,261 
       
       
    Abbreviation(s):
    ADR    American Depositary Receipt
    GDR    Global Depositary Receipt
 
*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $4,665,097.
107

TIAA-CREF FUNDS - Global Natural Resources Fund

 

TIAA-CREF FUNDS

GLOBAL NATURAL RESOURCES FUND

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

July 31, 2016

 

       % OF 
SECTOR  VALUE   NET ASSETS 
MATERIALS  $164,642,323    54.0%
ENERGY   110,846,565    36.4 
CONSUMER STAPLES   20,887,076    6.9 
INDUSTRIALS   3,103,404    1.0 
FINANCIALS   2,553,120    0.8 
SHORT - TERM INVESTMENTS   4,680,957    1.5 
OTHER ASSETS & LIABILITIES, NET   (1,927,184)   (0.6)
           
NET ASSETS  $304,786,261    100.0%
108

TIAA-CREF FUNDS - International Equity Fund

 

TIAA-CREF FUNDS

INTERNATIONAL EQUITY FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES       COMPANY  VALUE 
               
COMMON STOCKS - 99.2%        
               
AUSTRALIA - 1.2%        
 3,577,266      BHP Billiton Ltd  $53,022,875 
        TOTAL AUSTRALIA   53,022,875 
               
DENMARK - 1.4%        
 473,490      DSV AS   21,083,797 
 831,784   *  H Lundbeck AS   33,811,672 
 119,774      Novo Nordisk AS   6,811,102 
        TOTAL DENMARK   61,706,571 
               
FRANCE - 27.0%        
 5,236,524      Accor S.A.   219,222,782 
 223,985      BNP Paribas   11,110,616 
 2,892,743      Compagnie de Saint-Gobain   122,803,353 
 1,291,243      Essilor International S.A.   165,392,017 
 1,600,793      Groupe Danone   122,770,706 
 546,567      Renault S.A.   47,788,598 
 4,265,671      Schneider Electric S.A.   278,305,930 
 2,146,205      Societe Generale   73,172,112 
 1,882,644      Vinci S.A.   143,090,712 
        TOTAL FRANCE   1,183,656,826 
               
GERMANY - 12.8%        
 1,777,731      Adidas-Salomon AG.   292,031,102 
 179,727      Continental AG.   37,691,866 
 547,817   *  Deutsche Boerse AG.   45,811,983 
 553,404      Henkel KGaA (Preference)   68,957,338 
 1,247,470      Lanxess AG.   58,942,336 
 4,068,185      Schaeffler AG.   59,371,471 
        TOTAL GERMANY   562,806,096 
               
HONG KONG - 0.5%        
 1,485,671      Melco Crown Entertainment Ltd (ADR)   20,739,967 
        TOTAL HONG KONG   20,739,967 
               
INDIA - 11.2%        
 6,861,998      Asian Paints Ltd   114,320,245 
 259,335      Eicher Motors Ltd   87,159,873 
 590,290      Emami Ltd   10,067,002 
 6,525,920      HDFC Bank Ltd   121,465,870 
 6,147,362      IndusInd Bank Ltd   108,220,431 
 3,594,486   *  SKS Microfinance Pvt Ltd   48,812,922 
        TOTAL INDIA   490,046,343 
109

TIAA-CREF FUNDS - International Equity Fund

 

SHARES       COMPANY  VALUE 
               
ITALY - 4.9%        
 29,573,643      Banca Intesa S.p.A.  $65,258,913 
 8,548,863      Mediobanca S.p.A.   59,935,027 
 3,944,546      Moncler S.p.A   69,225,761 
 49,069,898   *  Saipem S.p.A.   21,499,920 
        TOTAL ITALY   215,919,621 
               
JAPAN - 16.2%        
 3,184,215      Ajinomoto Co, Inc   81,283,228 
 29,872,758      Ishikawajima-Harima Heavy Industries Co Ltd   83,120,613 
 2,006,500      J Front Retailing Co Ltd   23,153,555 
 993,200      Kao Corp   53,486,987 
 724,190      Konami Corp   28,078,040 
 818,876      Murata Manufacturing Co Ltd   99,986,104 
 4,000      Nintendo Co Ltd   830,270 
 3,047,074      Olympus Corp   105,147,874 
 1,089,224      Oriental Land Co Ltd   68,887,450 
 5,069,252      Sony Corp   166,407,744 
        TOTAL JAPAN   710,381,865 
               
NETHERLANDS - 3.6%        
 50,606      ASML Holding NV   5,556,570 
 1,620,215   e  Heineken NV   152,908,520 
 2,292      Royal Dutch Shell plc (A Shares)   59,180 
        TOTAL NETHERLANDS   158,524,270 
               
NORWAY - 1.6%        
 4,479,565      Statoil ASA   71,213,674 
        TOTAL NORWAY   71,213,674 
               
SWEDEN - 2.5%        
 4,014,613      Electrolux AB (Series B)   108,764,850 
        TOTAL SWEDEN   108,764,850 
               
SWITZERLAND - 3.6%        
 105,768      Burckhardt Compression Holding AG.   31,679,717 
 90,421      Geberit AG.   34,871,580 
 459,948      Swatch Group AG. (Registered)   23,479,812 
 291,868      Zurich Financial Services AG.   70,075,446 
        TOTAL SWITZERLAND   160,106,555 
               
TAIWAN - 1.1%        
 40,278,137      Advanced Semiconductor Engineering, Inc   47,547,948 
        TOTAL TAIWAN   47,547,948 
               
UNITED KINGDOM - 11.6%        
 4,161,782      BAE Systems plc   29,384,588 
 102,565      Rio Tinto plc   3,328,461 
 13,358,789      Sky plc   162,688,460 
 70,867,946   *  Tesco plc   146,117,018 
 5,807,715      Weir Group plc   112,528,564 
110

TIAA-CREF FUNDS - International Equity Fund

 

SHARES      COMPANY  VALUE 
              
 2,396,928     WPP plc $ 53,781,131  
       TOTAL UNITED KINGDOM   507,828,222 
             
       TOTAL COMMON STOCKS   4,352,265,683 
       (Cost $4,195,792,569)     
                         
PRINCIPAL     ISSUER  RATE  MATURITY
DATE		   
SHORT-TERM INVESTMENTS - 2.6%        
GOVERNMENT AGENCY DEBT - 0.2%        
$10,500,000     Federal Home Loan Bank (FHLB)     0.090 %   08/01/16   10,500,000 
       TOTAL GOVERNMENT AGENCY DEBT   10,500,000 
             
SHARES      COMPANY    
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.4%        
 104,211,217  c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		   104,211,217 
       TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   104,211,217 
       TOTAL SHORT-TERM INVESTMENTS   114,711,217 
       (Cost $114,711,217)     
             
       TOTAL INVESTMENTS - 101.8%   4,466,976,900 
       (Cost $4,310,503,786)     
       OTHER ASSETS & LIABILITIES, NET - (1.8)%   (79,233,017)
       NET ASSETS - 100.0%  $4,387,743,883 
       
       
    Abbreviation(s):
    ADR    American Depositary Receipt
 
*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $100,690,966.
111

TIAA-CREF FUNDS - International Equity Fund

 

TIAA-CREF FUNDS

INTERNATIONAL EQUITY FUND

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

July 31, 2016

 

       % OF 
SECTOR  VALUE   NET ASSETS 
CONSUMER DISCRETIONARY  $1,353,234,549    30.8%
INDUSTRIALS   944,028,727    21.5 
CONSUMER STAPLES   635,590,799    14.5 
FINANCIALS   603,863,320    13.8 
HEALTH CARE   311,162,665    7.1 
MATERIALS   229,613,917    5.2 
INFORMATION TECHNOLOGY   181,998,932    4.2 
ENERGY   92,772,774    2.1 
SHORT - TERM INVESTMENTS   114,711,217    2.6 
OTHER ASSETS & LIABILITIES, NET   (79,233,017)   (1.8)
           
NET ASSETS  $4,387,743,883    100.0%
112

TIAA-CREF FUNDS - International Opportunities Fund

 

TIAA-CREF FUNDS

INTERNATIONAL OPPORTUNITIES FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES       COMPANY  VALUE 
         
COMMON STOCKS - 98.0%    
         
AUSTRALIA - 2.2%        
 712,597      Australia & New Zealand Banking Group Ltd  $14,019,960 
 1,023,504      BHP Billiton Ltd   15,170,559 
        TOTAL AUSTRALIA   29,190,519 
               
BRAZIL - 1.9%        
 1,463,398      Banco Itau Holding Financeira S.A.   15,250,499 
 605,900      Cia Brasileira de Distribuicao Grupo Pao de Acucar   9,169,601 
        TOTAL BRAZIL   24,420,100 
               
CANADA - 8.1%        
 376,859      Alimentation Couche Tard, Inc   17,038,247 
 954,800      Cenovus Energy, Inc (Toronto)   13,667,684 
 314,615      Dollarama, Inc   23,262,691 
 399,003      Gildan Activewear, Inc   11,707,429 
 418,483   *,g  Spin Master Corp   8,589,855 
 551,044      Suncor Energy, Inc   14,830,687 
 405,653      Toronto-Dominion Bank   17,675,180 
        TOTAL CANADA   106,771,773 
               
CHINA - 1.1%        
 14,247,400   *,e,m  China Animal Healthcare Ltd   18,364 
 8,024,600      China Everbright International Ltd   8,690,505 
 3,585,200      Haitong Securities Co Ltd   5,852,935 
        TOTAL CHINA   14,561,804 
               
DENMARK - 2.1%        
 494,822      Novo Nordisk AS   28,138,687 
        TOTAL DENMARK   28,138,687 
               
FINLAND - 3.2%        
 353,413      Huhtamaki Oyj   15,528,714 
 2,647,800   *  Outokumpu Oyj   15,242,489 
 265,368      Sampo Oyj (A Shares)   10,992,508 
        TOTAL FINLAND   41,763,711 
               
FRANCE - 5.0%        
 79,519      L’Oreal S.A.   15,108,959 
 186,395      Teleperformance   17,342,821 
 407,842      Total S.A.   19,614,682 
 266,348      Valeo S.A.   13,663,955 
        TOTAL FRANCE   65,730,417 
113

TIAA-CREF FUNDS - International Opportunities Fund

 

SHARES       COMPANY  VALUE 
               
GERMANY - 2.0%        
 133,631      Beiersdorf AG.  $12,554,616 
 156,883      Fresenius Medical Care AG.   14,329,289 
        TOTAL GERMANY   26,883,905 
               
HONG KONG - 1.3%        
 2,826,400      AIA Group Ltd   17,606,182 
        TOTAL HONG KONG   17,606,182 
               
INDIA - 1.0%        
 594,984      Container Corp Of India Ltd   13,331,092 
        TOTAL INDIA   13,331,092 
               
INDONESIA - 1.7%        
 11,946,800      Bank Rakyat Indonesia   10,552,363 
 132,785,100      PT Lippo Karawaci Tbk   11,518,223 
        TOTAL INDONESIA   22,070,586 
               
IRELAND - 2.1%        
 583,368      CRH plc   17,801,585 
 433,372      Smurfit Kappa Group plc   10,176,910 
        TOTAL IRELAND   27,978,495 
               
ISLE OF MAN - 0.7%        
 1,768,500   *  Optimal Payments plc   9,024,490 
        TOTAL ISLE OF MAN   9,024,490 
               
ITALY - 3.4%        
 1,710,401      Mediobanca S.p.A.   11,991,411 
 680,786      Moncler S.p.A   11,947,618 
 1,319,730   g  OVS S.p.A   7,762,938 
 464,339   *  Yoox S.p.A   13,015,125 
        TOTAL ITALY   44,717,092 
               
JAPAN - 15.7%        
 435,200   e  COOKPAD, Inc   6,100,008 
 1,037,100   e  Infomart Corp   11,203,875 
 897,800   e  Istyle, Inc   8,031,937 
 689,300      Kubota Corp   9,985,985 
 1,097,500      Matsui Securities Co Ltd   9,615,135 
 519,400   e  MonotaRO Co Ltd   15,100,061 
 183,400      Nitto Denko Corp   12,291,618 
 2,551,200      Nomura Holdings, Inc   11,483,350 
 852,900      ORIX Corp   11,969,229 
 190,300      Outsourcing, Inc   7,140,330 
 372,900      Park24 Co Ltd   12,629,466 
 174,400   e  Seria Co Ltd   14,212,009 
 1,514,700      Shimizu Corp   15,438,575 
 579,400      SMS Co Ltd   13,682,862 
 343,700      Sumitomo Mitsui Financial Group, Inc   10,895,056 
 254,300      Sysmex Corp   17,615,805 
 1,170,000      Takara Leben Co Ltd   9,146,050 
 465,600   e  W-Scope Corp   10,562,230 
        TOTAL JAPAN   207,103,581 
114

TIAA-CREF FUNDS - International Opportunities Fund

 

SHARES       COMPANY  VALUE 
         
KOREA, REPUBLIC OF - 3.6%        
 82,123      Cosmax, Inc  $10,639,672 
 82,122      Hanssem Co Ltd   12,621,253 
 511,900      Hynix Semiconductor, Inc   15,763,486 
 124,101   *  Loen Entertainment, Inc   8,984,284 
        TOTAL KOREA, REPUBLIC OF   48,008,695 
               
MALAYSIA - 1.9%        
 8,560,900      IHH Healthcare BHD   13,754,646 
 18,138,000      Karex BHD   10,654,650 
        TOTAL MALAYSIA   24,409,296 
               
NETHERLANDS - 3.0%        
 146,473      ASML Holding NV   16,082,826 
 1,267,835      ING Groep NV   14,174,401 
 1,071,586   *,e  TomTom NV   9,151,111 
        TOTAL NETHERLANDS   39,408,338 
               
NORWAY - 3.2%        
 1,188,895   *  Det Norske Oljeselskap ASA   15,194,735 
 1,015,441      DNB NOR Holding ASA   11,213,694 
 980,000      Statoil ASA   15,579,504 
        TOTAL NORWAY   41,987,933 
               
PHILIPPINES - 3.1%        
 5,221,380      Banco de Oro Universal Bank   12,556,096 
 121,249,800      Megaworld Corp   12,960,922 
 8,299,480      Robinsons Retail Holdings, Inc   15,186,885 
        TOTAL PHILIPPINES   40,703,903 
               
PORTUGAL - 1.0%        
 772,464      Jeronimo Martins SGPS S.A.   12,937,938 
        TOTAL PORTUGAL   12,937,938 
               
SPAIN - 1.5%        
 288,698   e  Amadeus IT Holding S.A.   13,554,576 
 142,139   *,e,m  Let’s GOWEX S.A.   1,589 
 202,481   e  Tecnicas Reunidas S.A.   6,279,232 
        TOTAL SPAIN   19,835,397 
               
SWEDEN - 3.6%        
 608,212      Boliden AB   13,386,805 
 368,686      Hexagon AB (B Shares)   14,543,103 
 378,184      Intrum Justitia AB   12,141,682 
 303,771      Investment AB Kinnevik (B Shares)   7,747,206 
        TOTAL SWEDEN   47,818,796 
               
SWITZERLAND - 4.5%        
 81,224      Lonza Group AG.   15,296,129 
 244,167      Novartis AG.   20,251,977 
115

TIAA-CREF FUNDS - International Opportunities Fund

 

SHARES      COMPANY        VALUE  
                        
 876,082     UBS AG.          $ 12,043,597  
 568,343  *,g  Wizz Air Holdings plc            11,651,364  
       TOTAL SWITZERLAND            59,243,067  
                        
TAIWAN - 5.0%               
 626,861     Eclat Textile Co Ltd            7,026,584  
 1,596,000  *  Global PMX Co Ltd            5,852,492  
 3,728,607     Hota Industrial Manufacturing Co Ltd            16,985,439  
 2,952,000     Hu Lane Associate, Inc            13,220,831  
 2,558,200     Powertech Technology, Inc            6,510,806  
 3,529,000     Taiwan Paiho Ltd            10,849,437  
 1,113,700  *  VHQ Media Holdings Ltd            4,793,342  
       TOTAL TAIWAN            65,238,931  
                        
UNITED KINGDOM - 13.7%               
 1,728,584     Ashtead Group plc            27,358,823  
 270,047  *  ASOS plc            16,122,448  
 243,254     Associated British Foods plc            8,659,132  
 2,156,605  g  Auto Trader Group plc            10,584,056  
 2,293,970     Beazley plc            12,016,182  
 12,442,613  *  boohoo.com plc            10,991,838  
 1,253,074     Cineworld Group plc            9,735,931  
 244,128     Consort Medical plc            3,340,659  
 1,190,397     Fevertree Drinks plc            14,302,856  
 1,894,966  *  Just Eat plc            13,451,502  
 3,246,029  *,e  Purplebricks Group plc            5,928,420  
 228,603     Rightmove plc            12,255,555  
 4,793,634     Taylor Wimpey plc            9,809,173  
 393,665     Travis Perkins plc            8,122,911  
 1,759,451     Vesuvius plc            8,554,777  
 421,842     WPP plc            9,465,090  
       TOTAL UNITED KINGDOM            180,699,353  
                        
UNITED STATES - 2.4%               
 344,910  *  Imax Corp            10,895,707  
 271,165  *,e  Lululemon Athletica, Inc            21,055,962  
       TOTAL UNITED STATES            31,951,669  
                        
       TOTAL COMMON STOCKS            1,291,535,750  
       (Cost $1,219,131,849)                
                        
PRINCIPAL      ISSUER  RATE  MATURITY DATE        
SHORT-TERM INVESTMENTS - 7.9%               
GOVERNMENT AGENCY DEBT - 1.4%               
$6,500,000     Federal Home Loan Bank (FHLB)   0.150%  08/01/16    6,500,000  
 11,750,000     Federal Home Loan Mortgage Corp (FHLMC)   0.148   08/02/16    11,749,917  
       TOTAL GOVERNMENT AGENCY DEBT            18,249,917  
                        
TREASURY DEBT - 1.0%               
 12,375,000     United States Treasury Bill   0.265   08/04/16    12,374,864  
       TOTAL TREASURY DEBT            12,374,864  
116

TIAA-CREF FUNDS - International Opportunities Fund

 

SHARES       COMPANY  VALUE 
         
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 5.5%        
 72,918,041   c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		  $72,918,041 
        TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   72,918,041 
        TOTAL SHORT-TERM INVESTMENTS   103,542,822 
        (Cost $103,542,719)     
              
        TOTAL INVESTMENTS - 105.9%   1,395,078,572 
        (Cost $1,322,674,568)     
        OTHER ASSETS & LIABILITIES, NET - (5.9)%   (77,256,367)
        NET ASSETS - 100.0%  $1,317,822,205 
       
     
*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $70,100,716.
g   Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 7/31/16, the aggregate value of these securities was $38,588,213 or 2.9% of net assets.
m   Indicates a security that has been deemed illiquid.

117

TIAA-CREF FUNDS - International Opportunities Fund

 

TIAA-CREF FUNDS

INTERNATIONAL OPPORTUNITIES FUND

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

July 31, 2016

 

       % OF 
SECTOR  VALUE   NET ASSETS 
CONSUMER DISCRETIONARY  $281,722,542    21.4%
FINANCIALS   257,208,599    19.5 
INDUSTRIALS   167,488,392    12.7 
INFORMATION TECHNOLOGY   150,789,082    11.4 
CONSUMER STAPLES   126,252,556    9.6 
HEALTH CARE   112,745,556    8.5 
MATERIALS   110,160,910    8.4 
ENERGY   85,166,524    6.5 
TELECOMMUNICATION SERVICES   1,589    0.0 
SHORT - TERM INVESTMENTS   103,542,822    7.9 
OTHER ASSETS & LIABILITIES, NET   (77,256,367)   (5.9)
           
NET ASSETS  $1,317,822,205    100.0%
118

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

TIAA-CREF FUNDS

SOCIAL CHOICE INTERNATIONAL EQUITY FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES       COMPANY  VALUE  
         
COMMON STOCKS - 99.4%   
         
AUSTRALIA - 7.6%        
 314      AGL Energy Ltd  $4,916 
 1,228      Amcor Ltd   14,034 
 5,913      AMP Ltd   26,161 
 3,469      APA Group   25,654 
 691   m  Asciano Group   4,805 
 8,624      Australia & New Zealand Banking Group Ltd   169,672 
 8,897      Brambles Ltd   91,014 
 2,337      Caltex Australia Ltd   59,100 
 4,830      Coca-Cola Amatil Ltd   33,788 
 4,189      Commonwealth Bank of Australia   246,592 
 1,343      GPT Group (ASE)   5,728 
 10,833      Healthscope Ltd   24,398 
 1,935      Insurance Australia Group Ltd   8,900 
 1,393      Lend Lease Corp Ltd   14,218 
 1,408      Macquarie Goodman Group   8,075 
 625      Macquarie Group Ltd   35,386 
 22,620      Mirvac Group   37,841 
 7,832      National Australia Bank Ltd   158,333 
 4,635   *  Newcrest Mining Ltd   90,274 
 1,248      Ramsay Health Care Ltd   74,762 
 58,501   *  South32 Ltd   82,491 
 16,646      Stockland Trust Group   63,882 
 980      Sydney Airport   5,644 
 3,298      Transurban Group (ASE)   31,511 
 3,456      Wesfarmers Ltd   113,033 
 8,538      Westpac Banking Corp   202,029 
 3,934      Woodside Petroleum Ltd   80,361 
        TOTAL AUSTRALIA   1,712,602 
               
AUSTRIA - 0.2%        
 1,545      OMV AG.   41,268 
        TOTAL AUSTRIA   41,268 
               
BELGIUM - 0.5%        
 1,658   *  KBC Groep NV   86,185 
 437      Umicore   25,285 
        TOTAL BELGIUM   111,470 
               
DENMARK - 2.0%        
 972      Coloplast AS   76,171 
 162   *  Genmab AS   29,372 
 4,657      Novo Nordisk AS   264,826 
 460      Novozymes AS   22,576 
119

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

SHARES       COMPANY  VALUE  
         
 166      Pandora AS  $21,622 
 499     Vestas Wind Systems AS   34,886 
        TOTAL DENMARK   449,453 
               
FINLAND - 0.7%          
 676      Metso Oyj   18,758 
 1,409      Neste Oil Oyj   53,471 
 710      Orion Oyj (Class B)   29,087 
 1,487      Wartsila Oyj (B Shares)   64,552 
        TOTAL FINLAND   165,868 
               
FRANCE - 9.4%          
 1,833      Accor S.A.   76,737 
 1,364      Air Liquide   145,418 
 532      Atos Origin S.A.   52,150 
 6,395      AXA S.A.   130,153 
 1,841      Bouygues S.A.   54,536 
 1,171      Bureau Veritas S.A.   25,449 
 550      Cap Gemini S.A.   52,868 
 2,649      Carrefour S.A.   66,365 
 573      Casino Guichard Perrachon S.A.   31,056 
 522      Christian Dior S.A.   94,411 
 1,801      CNP Assurances   27,516 
 2,422      Compagnie de Saint-Gobain   102,819 
 503      Eiffage S.A.   38,673 
 948      Essilor International S.A.   121,427 
 295      Eurazeo   18,861 
 70      Gecina S.A.   10,609 
 2,128      Groupe Danone   163,204 
 234      Icade   18,053 
 154      JC Decaux S.A.   5,264 
 530      Kering   100,726 
 241      Lagardere S.C.A.   6,157 
 1,080      Legrand S.A.   59,592 
 790      L’Oreal S.A.   150,104 
 9,846      Natixis   40,600 
 342      Renault S.A.   29,902 
 2,585      Rexel S.A.   38,444 
 2,131      Schneider Electric S.A.   139,033 
 3,578      Suez Environnement S.A.   58,069 
 904      Technip S.A.   50,685 
 470      Unibail-Rodamco   129,496 
 2,852      Vivendi Universal S.A.   56,001 
 302      Wendel   32,256 
        TOTAL FRANCE   2,126,634 
               
GERMANY - 8.7%          
 809      Adidas-Salomon AG.   132,896 
 1,394      Allianz AG.   199,739 
 58      Axel Springer AG.   3,179 
 2,660      BASF SE   208,947 
 1,555      Bayerische Motoren Werke AG.   133,985 
 572      Bayerische Motoren Werke AG. (Preference)   41,458 
120

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

SHARES       COMPANY  VALUE  
               
 78       Beiersdorf AG.  $7,328 
 1,109       Brenntag AG.   55,091 
 1,086    *  Deutsche Boerse AG.   90,818 
 4,466       Deutsche Post AG.   133,284 
 370       Fraport AG. Frankfurt Airport Services Worldwide   20,236 
 661       GEA Group AG.   35,293 
 1,029       HeidelbergCement AG.   87,167 
 550       Henkel KGaA   59,704 
 570       Henkel KGaA (Preference)   71,025 
 958       Merck KGaA   105,798 
 1,508       Metro AG.   48,517 
 781       Muenchener Rueckver AG.   130,248 
 152       Osram Licht AG.   7,908 
 1,115       ProSiebenSat. Media AG.   51,075 
 2,733       SAP AG.   239,201 
 6,715       Telefonica Deutschland Holding AG.   27,418 
 4,719       TUI AG. (DI)   61,436 
         TOTAL GERMANY   1,951,751 
               
HONG KONG - 3.2%      
 16,000       BOC Hong Kong Holdings Ltd   52,680 
 10,000       CLP Holdings Ltd   104,219 
 5,200       Hang Seng Bank Ltd   93,089 
 54,900       Hong Kong & China Gas Ltd   102,082 
 4,961       Hong Kong Exchanges and Clearing Ltd   122,825 
 6,000       Hysan Development Co Ltd   27,669 
 50,000       Li & Fung Ltd   25,051 
 12,857       MTR Corp   72,816 
 5,500       Swire Pacific Ltd (Class A)   65,911 
 9,800       Swire Properties Ltd   27,346 
 6,500       Yue Yuen Industrial Holdings   26,413 
         TOTAL HONG KONG   720,101 
               
IRELAND - 0.5%      
 1,064       CRH plc   32,468 
 961       Kerry Group plc (Class A)   82,228 
         TOTAL IRELAND   114,696 
               
ISRAEL - 0.3%      
 11,698       Bank Hapoalim Ltd   59,632 
         TOTAL ISRAEL   59,632 
               
ITALY - 1.5%      
 6,787       Assicurazioni Generali S.p.A.   89,408 
 51,282       Banca Intesa S.p.A.   113,162 
 9,784       Banca Intesa S.p.A. RSP   20,438 
 1,163       Exor S.p.A.   45,381 
 9,488       Snam Rete Gas S.p.A.   54,922 
 3,357       Terna Rete Elettrica Nazionale S.p.A.   18,287 
         TOTAL ITALY   341,598 
121

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

SHARES       COMPANY  VALUE  
               
JAPAN - 23.2%      
 1,200       Aeon Co Ltd  $17,243 
 700       AEON Financial Service Co Ltd   16,119 
 800       Aeon Mall Co Ltd   10,748 
 900       Aisin Seiki Co Ltd   41,127 
 3,000       Ajinomoto Co, Inc   76,581 
 1,200       Alfresa Holdings Corp   26,308 
 400       Amada Co Ltd   4,359 
 1,000       Asahi Glass Co Ltd   5,745 
 3,000       Asahi Kasei Corp   22,676 
 400       Asics Corp   7,340 
 8,500       Astellas Pharma, Inc   141,625 
 700       Central Japan Railway Co   130,111 
 1,200       Chugai Pharmaceutical Co Ltd   44,846 
 600       Daikin Industries Ltd   52,034 
 1,600       Daiwa House Industry Co Ltd   44,865 
 2,900       Denso Corp   112,287 
 500       Dentsu, Inc   23,887 
 1,400       East Japan Railway Co   128,421 
 600       Eisai Co Ltd   35,083 
 100       Fast Retailing Co Ltd   32,271 
 3,000       Fuji Heavy Industries Ltd   114,614 
 100       Fujifilm Holdings Corp   3,588 
 8,000       Fujitsu Ltd   33,212 
 1,800       Hino Motors Ltd   18,798 
 200       Hitachi Chemical Co Ltd   4,172 
 400       Hitachi Construction Machinery Co Ltd   6,505 
 2,300       Hitachi Metals Ltd   25,571 
 5,800       Honda Motor Co Ltd   157,109 
 6,700       Inpex Holdings, Inc   53,264 
 200       Kansai Paint Co Ltd   4,188 
 800       Kao Corp   43,083 
 12,000       Kawasaki Heavy Industries Ltd   35,303 
 5,400       KDDI Corp   165,710 
 200       Keyence Corp   141,075 
 1,000       Kikkoman Corp   35,507 
 32,000       Kobe Steel Ltd   27,692 
 4,400       Komatsu Ltd   85,500 
 1,600       Konica Minolta Holdings, Inc   12,859 
 4,600       Kubota Corp   66,641 
 200       Kuraray Co Ltd   2,522 
 1,800       Kyocera Corp   85,276 
 2,000       Kyowa Hakko Kogyo Co Ltd   34,943 
 11,900       Matsushita Electric Industrial Co Ltd   114,438 
 4,800       Mazda Motor Corp   70,200 
 6,700       Mitsubishi Corp   115,271 
 9,000       Mitsubishi Electric Corp   104,926 
 12,000       Mitsubishi Materials Corp   31,535 
 3,500       Mitsubishi UFJ Lease & Finance Co Ltd   14,083 
 2,000       Mitsui Chemicals, Inc   8,460 
 4,000       Mitsui Fudosan Co Ltd   86,583 
 5,000       Mitsui OSK Lines Ltd   10,649 
 21,000       Mitsui Trust Holdings, Inc   69,788 
 92,700       Mizuho Financial Group, Inc   148,721 
122

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

SHARES       COMPANY  VALUE  
         
 700      Murata Manufacturing Co Ltd  $85,471 
 10,000      NEC Corp   27,309 
 200      NGK Spark Plug Co Ltd   3,264 
 400      Nikon Corp   5,652 
 2,500      Nippon Telegraph & Telephone Corp   118,799 
 8,000      Nippon Yusen Kabushiki Kaisha   14,158 
 12,600      Nissan Motor Co Ltd   122,075 
 500      Nissin Food Products Co Ltd   28,385 
 500      Nitto Denko Corp   33,510 
 700      NKSJ Holdings, Inc   22,610 
 400      Nomura Real Estate Holdings, Inc   6,899 
 2,500      NSK Ltd   21,029 
 4,100      NTT DoCoMo, Inc   111,374 
 1,300      Omron Corp   43,111 
 500      Oriental Land Co Ltd   31,623 
 1,000      Osaka Gas Co Ltd   4,036 
 8,000      Resona Holdings, Inc   31,910 
 1,900      Santen Pharmaceutical Co Ltd   31,595 
 200      Secom Co Ltd   15,066 
 200      Sekisui Chemical Co Ltd   2,909 
 1,400      Sekisui House Ltd   23,326 
 1,600      Seven & I Holdings Co Ltd   66,437 
 1,900      Shin-Etsu Chemical Co Ltd   129,654 
 300      Shionogi & Co Ltd   15,560 
 2,100      Shoei Co Ltd   21,783 
 1,600      Showa Shell Sekiyu KK   14,350 
 4,600      Sony Corp   151,004 
 300      Stanley Electric Co Ltd   7,273 
 14,000      Sumitomo Chemical Co Ltd   61,964 
 9,200      Sumitomo Corp   96,500 
 1,100   e  Sumitomo Dainippon Pharma Co Ltd   20,561 
 2,900      Sumitomo Electric Industries Ltd   39,953 
 2,000      Sumitomo Heavy Industries Ltd   9,489 
 5,000      Sumitomo Metal Mining Co Ltd   60,099 
 4,700      Sumitomo Mitsui Financial Group, Inc   148,987 
 1,200      Sumitomo Rubber Industries, Inc   16,938 
 1,200      Suntory Beverage & Food Ltd   52,174 
 500      Suzuken Co Ltd   15,947 
 900      Sysmex Corp   62,345 
 1,000      T&D Holdings, Inc   10,198 
 3,100      Takeda Pharmaceutical Co Ltd   138,130 
 200      TDK Corp   12,271 
 700      Tokyo Electron Ltd   60,140 
 13,000      Tokyo Gas Co Ltd   55,340 
 1,000      Tokyu Corp   8,218 
 3,000      Toray Industries, Inc   27,330 
 100   *  Toto Ltd   4,285 
 600      Toyo Suisan Kaisha Ltd   26,648 
 1,700      Toyota Industries Corp   76,305 
 1,500      Toyota Tsusho Corp   33,117 
 800      Yakult Honsha Co Ltd   38,206 
 100      Yamaha Corp   2,759 
 1,700      Yamaha Motor Co Ltd   28,622 

123

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

SHARES       COMPANY  VALUE  
               
 1,400       Yaskawa Electric Corp  $19,080 
 200       Yokogawa Electric Corp   2,586 
         TOTAL JAPAN   5,223,826 
               
LUXEMBOURG - 0.3%      
 697       SES Global S.A.   15,273 
 3,323       Tenaris S.A.   44,554 
         TOTAL LUXEMBOURG   59,827 
               
NETHERLANDS - 3.0%      
 11,159       Aegon NV   45,182 
 1,446       Akzo Nobel NV   93,474 
 1,075       ASML Holding NV   118,036 
 490       DSM NV   31,362 
 180       Gemalto NV   11,862 
 12,691       ING Groep NV   141,885 
 2,994       Koninklijke Ahold Delhaize NV   71,485 
 3,851       Koninklijke Philips Electronics NV   102,424 
 635       Koninklijke Vopak NV   32,647 
 6,358       Royal KPN NV   20,912 
 400       Wolters Kluwer NV   16,829 
         TOTAL NETHERLANDS   686,098 
               
NEW ZEALAND - 0.3%      
 4,092       Auckland International Airport Ltd   21,821 
 3,166       Fletcher Building Ltd   22,162 
 6,643   *  Meridian Energy Ltd   13,435 
 2,639       Ryman Healthcare Ltd   18,184 
         TOTAL NEW ZEALAND   75,602 
               
NORWAY - 1.2%      
 2,275       DNB NOR Holding ASA   25,123 
 14,778       Norsk Hydro ASA   63,365 
 4,583       Orkla ASA   42,634 
 6,375       Statoil ASA   101,346 
 2,321       Telenor ASA   38,857 
         TOTAL NORWAY   271,325 
               
PORTUGAL - 0.4%      
 12,022       Energias de Portugal S.A.   41,238 
 4,059       Galp Energia SGPS S.A.   55,600 
 29       Jeronimo Martins SGPS S.A.   486 
         TOTAL PORTUGAL   97,324 
               
SINGAPORE - 1.8%      
 5,260       Ascendas REIT   9,639 
 22,200       CapitaLand Ltd   52,710 
 4,100       CapitaMall Trust   6,570 
 3,300       City Developments Ltd   21,001 
 9,180       DBS Group Holdings Ltd   106,129 
 800       Jardine Cycle & Carriage Ltd   23,504 
 13,100       Keppel Corp Ltd   51,837 
124

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

SHARES       COMPANY  VALUE  
         
 900      Singapore Airlines Ltd  $7,377 
 37,800      Singapore Telecommunications Ltd   118,536 
        TOTAL SINGAPORE   397,303 
               
SOUTH AFRICA - 0.5%        
 3,645      Al Noor Hospitals Group plc   51,750 
 6,478      Investec plc   38,559 
 1,008      Mondi plc   20,399 
        TOTAL SOUTH AFRICA   110,708 
               
SPAIN - 3.0%        
 1,436      Amadeus IT Holding S.A.   67,421 
 22,761      Banco Bilbao Vizcaya Argentaria S.A.   132,878 
 14,427      Banco de Sabadell S.A.   19,729 
 22,348      CaixaBank S.A.   56,115 
 821      Ferrovial S.A.   16,993 
 21,548      Iberdrola S.A.   148,055 
 102   *,m  Iberdrola S.A.   703 
 3,860      Industria De Diseno Textil S.A.   133,493 
 8,068      Repsol YPF S.A.   102,194 
        TOTAL SPAIN   677,581 
               
SWEDEN - 3.6%        
 221      Alfa Laval AB   3,483 
 2,497      Assa Abloy AB   54,779 
 2,722      Atlas Copco AB (A Shares)   76,411 
 2,746      Atlas Copco AB (B Shares)   70,217 
 2,967      Boliden AB   65,304 
 519      Electrolux AB (Series B)   14,061 
 8,366      Ericsson (LM) (B Shares)   62,388 
 1,936      Hennes & Mauritz AB (B Shares)   58,463 
 1,155      Industrivarden AB   19,433 
 12,442      Nordea Bank AB   110,854 
 2,665      Sandvik AB   28,555 
 5,042      Skandinaviska Enskilda Banken AB (Class A)   44,209 
 1,070      SKF AB (B Shares)   16,952 
 758      Svenska Cellulosa AB (B Shares)   22,534 
 2,102      Swedbank AB (A Shares)   44,131 
 14,416      TeliaSonera AB   65,783 
 4,886      Volvo AB (B Shares)   52,064 
        TOTAL SWEDEN   809,621 
               
SWITZERLAND - 9.4%        
 6,768      ABB Ltd   143,767 
 632      Actelion Ltd   111,947 
 119      Adecco S.A.   6,532 
 915      Aryzta AG.   34,376 
 1,897      Coca-Cola HBC AG.   39,219 
 51      Givaudan S.A.   104,741 
 2,472      Holcim Ltd   117,546 
 332      Kuehne & Nagel International AG.   46,568 
 11      Lindt & Spruengli AG.   64,680 
 460      Lonza Group AG.   86,627 
125

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

SHARES       COMPANY  VALUE  
         
 5,093      Novartis AG.  $422,429 
 1,592      Roche Holding AG.   406,387 
 39      SGS S.A.   86,278 
 1,378      Swiss Re Ltd   115,513 
 187      Swisscom AG.   91,995 
 1,688      Wolseley plc   94,120 
 570      Zurich Financial Services AG.   136,853 
        TOTAL SWITZERLAND   2,109,578 
               
UNITED KINGDOM - 17.9%        
 8,360      3i Group plc   68,283 
 9,679      Aberdeen Asset Management plc   40,767 
 2,817      Associated British Foods plc   100,277 
 22,779      Aviva plc   117,301 
 5,091      Barratt Developments plc   29,479 
 199      Berkeley Group Holdings plc   7,059 
 8,809      British Land Co plc   78,179 
 30,654      BT Group plc   167,476 
 951      Bunzl plc   29,755 
 3,074      Burberry Group plc   53,636 
 4,635      Capita Group plc   58,853 
 8,524      CNH Industrial NV   60,873 
 107   *  Coca-Cola European Partners plc   4,037 
 354      Croda International plc   15,567 
 129      DCC plc   11,512 
 1,361      easyJet plc   18,721 
 12,461      GlaxoSmithKline plc   278,292 
 5,537      Hammerson plc   40,873 
 1,937      InterContinental Hotels Group plc   77,442 
 620      Intertek Group plc   29,745 
 10,343      Intu Properties plc   41,013 
 9,647      ITV plc   25,014 
 3,792   e  J Sainsbury plc   11,253 
 1,996      Johnson Matthey plc   86,501 
 9,245      Kingfisher plc   41,054 
 5,380      Land Securities Group plc   77,883 
 30,998      Legal & General Group plc   84,326 
 2,198      London Stock Exchange Group plc   80,881 
 5,774      Marks & Spencer Group plc   24,412 
 5,618      Meggitt plc   32,539 
 12,013      National Grid plc   172,252 
 555      Next plc   36,899 
 34,054      Old Mutual plc   94,765 
 5,871      Pearson plc   68,593 
 2,343      Petrofac Ltd   23,167 
 9,030      Prudential plc   159,185 
 1,847      Reckitt Benckiser Group plc   179,085 
 899      Reed Elsevier NV   16,199 
 4,446      Reed Elsevier plc   84,424 
 2,751      RSA Insurance Group plc   18,090 
 1,423      Schroders plc   49,319 
 5,466   e  Scottish & Southern Energy plc   109,719 
 1,696      Segro plc   9,938 
126

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

SHARES       COMPANY  VALUE  
         
 15,374      Standard Chartered plc  $122,932 
 12,757      Standard Life plc   51,073 
 5,125      Tate & Lyle plc   49,045 
 8,914      Taylor Wimpey plc   18,241 
 43,098   *  Tesco plc   88,860 
 872      Travis Perkins plc   17,993 
 3,303      Unilever NV   153,091 
 4,013      Unilever plc   187,740 
 6,816      United Utilities Group plc   91,696 
 7,213   e  Vodafone Group plc (ADR)   222,882 
 1,813      Whitbread plc   92,580 
 6,886      WM Morrison Supermarkets plc   16,922 
 5,362      WPP plc   120,310 
        TOTAL UNITED KINGDOM   4,048,003 
               
UNITED STATES - 0.2%        
 1,997   *  Qiagen NV   52,423 
        TOTAL UNITED STATES   52,423 
              
        TOTAL COMMON STOCKS   22,414,292 
        (Cost $23,760,076)     
              
        TOTAL INVESTMENTS - 99.4%   22,414,292 
        (Cost $23,760,076)     
        OTHER ASSETS & LIABILITIES, NET - 0.6%   143,751 
        NET ASSETS - 100.0%  $22,558,043 
       
     
    Abbreviation(s):
  ADR    American Depositary Receipt
  REIT    Real Estate Investment Trust
 
       
* Non-income producing
e All or a portion of these securities are out on loan. The aggregate value of securities on loan is $354,413.
m Indicates a security that has been deemed illiquid.
127

TIAA-CREF FUNDS - Social Choice International Equity Fund

 

TIAA-CREF FUNDS

SOCIAL CHOICE INTERNATIONAL EQUITY FUND

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

July 31, 2016

 

       % OF 
SECTOR  VALUE   NET ASSETS 
FINANCIALS  $5,503,507    24.4%
INDUSTRIALS   3,140,638    13.9 
CONSUMER DISCRETIONARY   3,008,254    13.3 
HEALTH CARE   2,720,823    12.1 
CONSUMER STAPLES   2,276,340    10.1 
MATERIALS   1,768,454    7.8 
TELECOMMUNICATION SERVICES   1,149,742    5.1 
INFORMATION TECHNOLOGY   1,129,904    5.0 
UTILITIES   1,004,623    4.5 
ENERGY   712,007    3.2 
OTHER ASSETS & LIABILITIES, NET   143,751    0.6 
           
NET ASSETS  $22,558,043    100.0%
128

TIAA-CREF FUNDS - Equity Index Fund

 

TIAA-CREF FUNDS

EQUITY INDEX FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
               
COMMON STOCKS - 99.9%        
               
AUTOMOBILES & COMPONENTS - 1.0%        
 37,554   *  American Axle & Manufacturing Holdings, Inc  $653,815 
 105,930      BorgWarner, Inc   3,514,757 
 26,375      Cooper Tire & Rubber Co   870,111 
 7,253   *  Cooper-Standard Holding, Inc   638,627 
 72,245      Dana Holding Corp   985,422 
 133,622      Delphi Automotive plc   9,062,244 
 13,305   *  Dorman Products, Inc   847,529 
 11,529      Drew Industries, Inc   1,056,172 
 12,398   *  Federal Mogul Corp (Class A)   109,598 
 1,939,101      Ford Motor Co   24,549,019 
 12,970   *  Fox Factory Holding Corp   248,894 
 700,202      General Motors Co   22,084,371 
 138,866      Gentex Corp   2,453,762 
 17,656   *  Gentherm, Inc   592,535 
 127,545      Goodyear Tire & Rubber Co   3,656,715 
 88,859   e  Harley-Davidson, Inc   4,702,418 
 7,334   *  Horizon Global Corp   95,709 
 315,073      Johnson Controls, Inc   14,468,152 
 35,272      Lear Corp   4,001,608 
 7,570      Metaldyne Performance Group, Inc   120,287 
 21,146   *  Modine Manufacturing Co   203,002 
 8,720   *  Motorcar Parts of America, Inc   244,422 
 16,273      Spartan Motors, Inc   138,158 
 11,059      Standard Motor Products, Inc   463,814 
 12,077   *  Stoneridge, Inc   201,444 
 1,415      Strattec Security Corp   63,109 
 12,118      Superior Industries International, Inc   370,326 
 26,573   *  Tenneco, Inc   1,501,906 
 57,250   *,e  Tesla Motors, Inc   13,441,728 
 22,553      Thor Industries, Inc   1,726,207 
 9,993      Tower International, Inc   230,638 
 3,070      Unique Fabricating, Inc   41,261 
 22,231      Visteon Corp   1,558,171 
 12,900      Winnebago Industries, Inc   306,504 
 6,207   *  Workhorse Group, Inc   40,780 
        TOTAL AUTOMOBILES & COMPONENTS   115,243,215 
               
BANKS - 5.5%        
 6,433      1st Source Corp   216,213 
 2,590      Access National Corp   57,576 
 3,009      ACNB Corp   77,783 
 5,241   *,e  Allegiance Bancshares, Inc   132,388 
 3,144      American National Bankshares, Inc   82,561 
 16,401      Ameris Bancorp   543,857 
 3,475   e  Ames National Corp   94,346 
129

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 15,815      Apollo Residential Mortgage  $214,610 
 4,559      Arrow Financial Corp   144,019 
 63,588      Associated Banc-Corp   1,182,737 
 43,500      Astoria Financial Corp   638,145 
 8,335   *  Atlantic Capital Bancshares, Inc   123,608 
 16,132      Banc of California, Inc   357,808 
 3,811      Bancfirst Corp   249,887 
 14,602      Banco Latinoamericano de Exportaciones S.A. (Class E)   398,927 
 38,151      Bancorpsouth, Inc   908,757 
 19,189      Bank Mutual Corp   146,604 
 5,090,217      Bank of America Corp   73,757,244 
 23,779      Bank of Hawaii Corp   1,638,849 
 2,316      Bank of Marin Bancorp   114,827 
 42,277      Bank of the Ozarks, Inc   1,521,555 
 7,344      BankFinancial Corp   89,597 
 48,616      BankUnited   1,459,452 
 2,566   e  Bankwell Financial Group, Inc   56,478 
 19,110      Banner Corp   797,651 
 2,779      Bar Harbor Bankshares   101,934 
 398,324      BB&T Corp   14,686,206 
 6,029   e  Bear State Financial, Inc   57,517 
 34,168      Beneficial Bancorp, Inc   463,318 
 15,102      Berkshire Hills Bancorp, Inc   398,240 
 11,500      Blue Hills Bancorp, Inc   163,875 
 18,329      BNC Bancorp   444,662 
 29,411   *,e  BofI Holding, Inc   494,693 
 12,602   e  BOK Financial Corp   822,028 
 33,474      Boston Private Financial Holdings, Inc   405,705 
 8,056      Bridge Bancorp, Inc   234,510 
 33,112      Brookline Bancorp, Inc   377,146 
 8,081      Bryn Mawr Bank Corp   237,016 
 3,755   *  BSB Bancorp, Inc   86,365 
 1,549   e  C&F Financial Corp   70,774 
 5,021      Camden National Corp   218,313 
 9,174      Capital Bank Financial Corp   274,211 
 4,271      Capital City Bank Group, Inc   61,118 
 84,860      Capitol Federal Financial   1,202,466 
 12,761      Cardinal Financial Corp   328,723 
 4,967      Carolina Financial Corp   95,019 
 11,872   *  Cascade Bancorp   66,958 
 36,003      Cathay General Bancorp   1,079,370 
 22,222      Centerstate Banks of Florida, Inc   370,219 
 8,558      Central Pacific Financial Corp   209,928 
 4,092      Central Valley Community Bancorp   61,175 
 1,649      Century Bancorp, Inc   71,995 
 8,748      Charter Financial Corp   114,074 
 23,857   e  Chemical Financial Corp   987,203 
 1,442   e  Chemung Financial Corp   45,625 
 97,257      CIT Group, Inc   3,361,202 
 1,454,528      Citigroup, Inc   63,722,872 
 5,032      Citizens & Northern Corp   107,232 
 259,226      Citizens Financial Group, Inc   5,788,517 
 6,773      City Holding Co   316,299 
130

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
           
 10,322      Clifton Bancorp, Inc  $154,624 
 5,791      CNB Financial Corp   106,844 
 17,885      CoBiz, Inc   220,880 
 3,672      Codorus Valley Bancorp, Inc   77,883 
 32,896      Columbia Banking System, Inc   997,407 
 85,334      Comerica, Inc   3,860,510 
 47,079      Commerce Bancshares, Inc   2,226,366 
 28,994      Community Bank System, Inc   1,279,505 
 6,977      Community Trust Bancorp, Inc   242,660 
 4,655   *  CommunityOne Bancorp   60,608 
 11,785      ConnectOne Bancorp, Inc   199,284 
 2,437   e  County Bancorp, Inc   50,738 
 6,901   *  CU Bancorp   163,968 
 28,081   e  Cullen/Frost Bankers, Inc   1,906,419 
 11,525   *  Customers Bancorp, Inc   296,653 
 65,768      CVB Financial Corp   1,081,884 
 15,318      Dime Community Bancshares   265,001 
 16,871   *  Eagle Bancorp, Inc   869,700 
 70,051      East West Bancorp, Inc   2,397,145 
 3,160      Enterprise Bancorp, Inc   74,797 
 11,187      Enterprise Financial Services Corp   321,738 
 2,384   *  Equity Bancshares, Inc   53,855 
 4,031      ESSA Bancorp, Inc   57,079 
 36,435   *  Essent Group Ltd   872,983 
 38,938      EverBank Financial Corp   699,326 
 2,904      Farmers Capital Bank Corp   85,784 
 11,953      Farmers National Banc Corp   114,151 
 14,519   *  FCB Financial Holdings, Inc   507,729 
 6,393      Federal Agricultural Mortgage Corp (Class C)   245,683 
 10,179      Fidelity Southern Corp   175,181 
 358,173      Fifth Third Bancorp   6,798,124 
 5,686      Financial Institutions, Inc   152,953 
 9,604      First Bancorp (NC)   179,787 
 56,710   *  First Bancorp (Puerto Rico)   260,299 
 3,643      First Bancorp, Inc   80,328 
 15,209      First Busey Corp   342,659 
 3,244      First Business Financial Services, Inc   76,915 
 4,890      First Citizens Bancshares, Inc (Class A)   1,270,324 
 43,405      First Commonwealth Financial Corp   418,858 
 6,839      First Community Bancshares, Inc   156,818 
 6,078   *,e  First Community Financial Partners, Inc   54,763 
 6,547      First Connecticut Bancorp   105,407 
 3,699      First Defiance Financial Corp   154,211 
 29,861      First Financial Bancorp   636,338 
 37,366   e  First Financial Bankshares, Inc   1,276,796 
 4,551      First Financial Corp   174,303 
 4,121      First Financial Northwest, Inc   57,612 
 6,474   *  First Foundation, Inc   154,146 
 95,427      First Horizon National Corp   1,389,417 
 2,693   e  First Internet Bancorp   63,689 
 9,611      First Interstate Bancsystem, Inc   279,103 
 19,713      First Merchants Corp   516,481 
 2,943      First Mid-Illinois Bancshares, Inc   74,134 
131

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
           
 38,814      First Midwest Bancorp, Inc  $724,657 
 9,317   *  First NBC Bank Holding Co   177,303 
 182,398      First Niagara Financial Group, Inc   1,856,812 
 5,007   *,e  First Northwest Bancorp   65,492 
 6,789      First of Long Island Corp   206,046 
 68,933      First Republic Bank   4,940,428 
 80,533      FirstMerit Corp   1,709,716 
 8,294   *  Flagstar Bancorp, Inc   219,045 
 11,966      Flushing Financial Corp   266,961 
 102,037      FNB Corp   1,219,342 
 4,591   *  Franklin Financial Network, Inc   155,543 
 83,509      Fulton Financial Corp   1,139,898 
 6,871      German American Bancorp, Inc   233,614 
 37,114      Glacier Bancorp, Inc   1,023,604 
 5,092      Great Southern Bancorp, Inc   199,606 
 29,976      Great Western Bancorp, Inc   994,304 
 4,011   *  Green Bancorp, Inc   39,228 
 5,658      Guaranty Bancorp   95,450 
 15,264   *,e  Hampton Roads Bankshares, Inc   31,291 
 37,485      Hancock Holding Co   1,086,690 
 12,696      Hanmi Financial Corp   311,306 
 10,567      Heartland Financial USA, Inc   388,020 
 12,384      Heritage Commerce Corp   129,784 
 14,020      Heritage Financial Corp   244,789 
 9,193      Heritage Oaks Bancorp   74,831 
 36,210   *  Hilltop Holdings, Inc   788,654 
 689      Hingham Institution for Savings   90,259 
 2,808   e  Home Bancorp, Inc   81,264 
 58,908      Home Bancshares, Inc   1,229,410 
 8,704   *  HomeStreet, Inc   194,099 
 8,420   *  HomeTrust Bancshares, Inc   154,760 
 37,573   *  Hope Bancorp, Inc   577,497 
 5,273      Horizon Bancorp   145,113 
 368,462      Huntington Bancshares, Inc   3,500,389 
 14,980      IBERIABANK Corp   935,801 
 3,645   *,e  Impac Mortgage Holdings, Inc   63,241 
 12,342      Independent Bank Corp (MA)   619,692 
 9,223      Independent Bank Corp (MI)   141,850 
 4,046      Independent Bank Group, Inc   170,984 
 26,696      International Bancshares Corp   732,004 
 144,820      Investors Bancorp, Inc   1,645,155 
 1,792,903      JPMorgan Chase & Co   114,692,005 
 34,024      Kearny Financial Corp   442,992 
 463,196      Keycorp   5,419,393 
 3,676   e  Lake Sunapee Bank Group   67,785 
 18,503      Lakeland Bancorp, Inc   220,371 
 7,688      Lakeland Financial Corp   394,779 
 4,465   e  LCNB Corp   79,209 
 18,393      LegacyTexas Financial Group, Inc   524,568 
 2,719   *,e  LendingTree, Inc   274,565 
 9,830      Live Oak Bancshares, Inc   128,871 
 73,137      M&T Bank Corp   8,378,575 
 12,652   e  Macatawa Bank Corp   98,053 
132

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 11,159      MainSource Financial Group, Inc  $248,511 
 30,171      MB Financial, Inc   1,158,265 
 8,948      MBT Financial Corp   80,443 
 6,978      Mercantile Bank Corp   175,706 
 1,972      Merchants Bancshares, Inc   62,670 
 33,771      Meridian Bancorp, Inc   496,434 
 2,375      Meta Financial Group, Inc   129,889 
 170,971   *  MGIC Investment Corp   1,229,281 
 2,446      Middleburg Financial Corp   68,782 
 1,950   *  Midland States Bancorp, Inc   44,382 
 3,997      MidWestOne Financial Group, Inc   115,713 
 2,513      MutualFirst Financial, Inc   72,198 
 16,489      National Bank Holdings Corp   330,275 
 2,810   e  National Bankshares, Inc   97,816 
 4,061   *  National Commerce Corp   98,723 
 16,262   *,e  Nationstar Mortgage Holdings, Inc   205,389 
 20,562      NBT Bancorp, Inc   613,159 
 239,989   e  New York Community Bancorp, Inc   3,467,841 
 3,552   *  Nicolet Bankshares, Inc   129,151 
 20,415   *  NMI Holdings, Inc   128,206 
 23,793      Northfield Bancorp, Inc   355,229 
 3,306      Northrim BanCorp, Inc   93,890 
 62,331      Northwest Bancshares, Inc   929,355 
 9,848      OceanFirst Financial Corp   185,733 
 4,255      Old Line Bancshares, Inc   81,441 
 64,572      Old National Bancorp   849,768 
 11,628      Old Second Bancorp, Inc   87,791 
 4,709      Opus Bank   152,007 
 27,054      Oritani Financial Corp   438,816 
 3,502   e  Orrstown Financial Services, Inc   67,729 
 9,324      Pacific Continental Corp   135,012 
 13,151   *  Pacific Premier Bancorp, Inc   317,597 
 58,995      PacWest Bancorp   2,439,443 
 8,742   e  Park National Corp   782,584 
 25,387      Park Sterling Bank   195,988 
 7,363      Peapack Gladstone Financial Corp   147,775 
 1,915   e  Penns Woods Bancorp, Inc   81,100 
 5,122   *  PennyMac Financial Services, Inc   64,588 
 7,855      Peoples Bancorp, Inc   176,345 
 3,001      Peoples Financial Services Corp   118,449 
 137,110      People’s United Financial, Inc   2,078,588 
 6,152      People’s Utah Bancorp   109,936 
 26,058   *  PHH Corp   380,707 
 24,287      Pinnacle Financial Partners, Inc   1,289,883 
 246,221      PNC Financial Services Group, Inc   20,350,166 
 49,963      Popular, Inc   1,683,253 
 5,949      Preferred Bank   194,354 
 4,051   e  Premier Financial Bancorp, Inc   72,270 
 39,077      PrivateBancorp, Inc   1,727,203 
 32,606      Prosperity Bancshares, Inc   1,665,841 
 2,962      Provident Financial Holdings, Inc   57,729 
 22,929      Provident Financial Services, Inc   462,019 
 5,576      QCR Holdings, Inc   165,273 
133

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 104,710      Radian Group, Inc  $1,350,759 
 576,763      Regions Financial Corp   5,288,917 
 19,695      Renasant Corp   634,573 
 4,212      Republic Bancorp, Inc (Class A)   125,560 
 15,691   *,e  Republic First Bancorp, Inc   68,883 
 16,780      S&T Bancorp, Inc   427,722 
 11,418      Sandy Spring Bancorp, Inc   340,713 
 14,091   *  Seacoast Banking Corp of Florida   225,033 
 11,104      ServisFirst Bancshares, Inc   562,196 
 5,605      SI Financial Group, Inc   74,939 
 5,108      Sierra Bancorp   91,331 
 25,709   *  Signature Bank   3,091,250 
 14,281      Simmons First National Corp (Class A)   656,212 
 15,850      South State Corp   1,155,623 
 2,686   *  Southern First Bancshares, Inc   72,683 
 2,726   e  Southern Missouri Bancorp, Inc   66,542 
 5,361   e  Southern National Bancorp of Virginia, Inc   71,462 
 11,996      Southside Bancshares, Inc   366,958 
 7,722      Southwest Bancorp, Inc   149,961 
 17,135      State Bank & Trust Co   374,914 
 52,783      Sterling Bancorp/DE   891,505 
 10,273      Stock Yards Bancorp, Inc   303,464 
 5,678      Stonegate Bank   179,936 
 4,609      Suffolk Bancorp   151,682 
 4,018   e  Summit Financial Group, Inc   78,954 
 5,433   *  Sun Bancorp, Inc   115,940 
 233,893      SunTrust Banks, Inc   9,891,335 
 25,315   *  SVB Financial Group   2,542,132 
 67,263      Synovus Financial Corp   2,047,486 
 22,554      Talmer Bancorp Inc   474,085 
 67,434      TCF Financial Corp   916,428 
 3,666      Territorial Bancorp, Inc   98,615 
 22,310   *  Texas Capital Bancshares, Inc   1,082,927 
 36,889      TFS Financial Corp   671,380 
 13,492   *  The Bancorp, Inc   71,508 
 7,418      Tompkins Trustco, Inc   539,585 
 27,394   e  TowneBank   628,692 
 9,011      Trico Bancshares   234,466 
 8,498   *  Tristate Capital Holdings, Inc   121,266 
 7,756   *  Triumph Bancorp, Inc   135,497 
 43,902      Trustco Bank Corp NY   291,070 
 36,220      Trustmark Corp   945,342 
 21,800      UMB Financial Corp   1,207,938 
 106,950      Umpqua Holdings Corp   1,628,849 
 20,968   e  Union Bankshares Corp   562,781 
 1,900   e  Union Bankshares, Inc   66,234 
 39,004   e  United Bankshares, Inc   1,493,853 
 37,399      United Community Banks, Inc   719,557 
 19,365      United Community Financial Corp   128,584 
 19,970      United Financial Bancorp, Inc (New)   262,606 
 11,444      Univest Corp of Pennsylvania   241,354 
 796,202      US Bancorp   33,575,838 
 150,278      Valley National Bancorp   1,363,021 
134

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 4,072   *  Veritex Holdings, Inc  $70,731 
 13,347   *  Walker & Dunlop, Inc   315,923 
 16,698   *,e  Walter Investment Management Corp   47,923 
 51,702      Washington Federal, Inc   1,292,550 
 7,198      Washington Trust Bancorp, Inc   273,236 
 3,753      WashingtonFirst Bankshares, Inc   90,072 
 13,586      Waterstone Financial, Inc   213,028 
 36,708      Webster Financial Corp   1,320,020 
 2,245,593      Wells Fargo & Co   107,721,096 
 19,889      WesBanco, Inc   614,968 
 6,091      West Bancorporation, Inc   115,729 
 21,336   e  Westamerica Bancorporation   1,003,645 
 45,525   *  Western Alliance Bancorp   1,549,216 
 7,045      Westfield Financial, Inc   55,444 
 34,813      Wilshire Bancorp, Inc   373,892 
 23,570      Wintrust Financial Corp   1,244,496 
 100,521   *  WMIH Corp   243,261 
 12,825      WSFS Financial Corp   451,312 
 24,350      Yadkin Financial Corp   613,377 
 2,290      Your Community Bankshares, Inc   85,211 
 90,422      Zions Bancorporation   2,520,965 
        TOTAL BANKS   622,163,867 
               
CAPITAL GOODS - 7.5%        
 288,501      3M Co   51,457,038 
 34,657      A.O. Smith Corp   3,219,289 
 25,084      Aaon, Inc   664,224 
 14,774      AAR Corp   356,940 
 27,308      Actuant Corp (Class A)   648,565 
 21,298      Acuity Brands, Inc   5,589,234 
 19,055   e  Advanced Drainage Systems, Inc   508,959 
 64,827   *  Aecom Technology Corp   2,300,710 
 17,231   *  Aegion Corp   353,580 
 28,687   *  Aerojet Rocketdyne Holdings, Inc   541,037 
 9,931   *  Aerovironment, Inc   281,544 
 32,826      AGCO Corp   1,580,900 
 43,036      Air Lease Corp   1,239,867 
 22,998      Aircastle Ltd   511,016 
 4,528      Alamo Group, Inc   303,965 
 13,760      Albany International Corp (Class A)   582,461 
 44,943      Allegion plc   3,253,424 
 2,945      Allied Motion Technologies, Inc   66,616 
 69,052      Allison Transmission Holdings, Inc   1,990,079 
 12,193      Altra Holdings, Inc   346,281 
 8,663   *  Ameresco, Inc   42,882 
 3,814   e  American Railcar Industries, Inc   160,226 
 3,837      American Science & Engineering, Inc   141,624 
 6,024   *  American Superconductor Corp   55,300 
 8,421   *  American Woodmark Corp   625,091 
 109,862      Ametek, Inc   5,166,810 
 13,179      Apogee Enterprises, Inc   616,118 
 16,844      Applied Industrial Technologies, Inc   790,826 
 6,376      Argan, Inc   294,125 
135

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 11,629   *  Armstrong Flooring, Inc  $231,766 
 20,205   *  Armstrong World Industries, Inc   858,106 
 9,399      Astec Industries, Inc   566,572 
 9,721   *  Astronics Corp   372,023 
 10,688      AZZ, Inc   663,511 
 21,982   *  Babcock & Wilcox Enterprises, Inc   337,644 
 24,354      Barnes Group, Inc   923,747 
 49,825      BE Aerospace, Inc   2,383,379 
 28,927   *  Beacon Roofing Supply, Inc   1,360,148 
 26,687   *  BMC Stock Holdings, Inc   543,080 
 294,339      Boeing Co   39,341,351 
 17,803      Briggs & Stratton Corp   404,662 
 40,730   *  Builders FirstSource, Inc   525,010 
 45,709      BWX Technologies, Inc   1,682,548 
 11,658      Caesarstone Sdot-Yam Ltd   437,058 
 8,206   *  CAI International, Inc   70,407 
 29,385      Carlisle Cos, Inc   3,035,177 
 273,349      Caterpillar, Inc   22,622,363 
 14,772   *  Chart Industries, Inc   443,455 
 51,676      Chicago Bridge & Iron Co NV   1,747,166 
 7,518      CIRCOR International, Inc   428,075 
 21,011      Clarcor, Inc   1,308,145 
 47,890   *  Colfax Corp   1,406,050 
 7,576      Columbus McKinnon Corp   125,686 
 19,570      Comfort Systems USA, Inc   594,537 
 16,862   *  Continental Building Products Inc   395,414 
 19,872      Crane Co   1,238,026 
 7,120   *  CSW Industrials, Inc   241,582 
 12,289      Cubic Corp   501,883 
 77,238      Cummins, Inc   9,482,509 
 20,863      Curtiss-Wright Corp   1,856,598 
 296,668      Danaher Corp   24,160,642 
 151,930   e  Deere & Co   11,806,480 
 29,960   *  DigitalGlobe, Inc   807,722 
 61,940      Donaldson Co, Inc   2,237,892 
 11,557      Douglas Dynamics, Inc   309,728 
 70,296      Dover Corp   5,021,243 
 4,457   *  Ducommun, Inc   86,198 
 5,115   *,e  DXP Enterprises, Inc   85,114 
 15,401   *  Dycom Industries, Inc   1,448,464 
 6,313      Dynamic Materials Corp   64,645 
 220,813      Eaton Corp   14,001,752 
 29,434      EMCOR Group, Inc   1,639,474 
 310,214      Emerson Electric Co   17,340,963 
 9,755      Encore Wire Corp   366,105 
 7,645   *,e  Energous Corp   94,951 
 16,133   *,e  Energy Recovery, Inc   172,623 
 21,108      EnerSys   1,316,084 
 8,686      Engility Holdings, Inc   252,241 
 12,925      EnPro Industries, Inc   591,319 
 12,221      ESCO Technologies, Inc   517,559 
 14,101   *  Esterline Technologies Corp   857,764 
 138,956      Fastenal Co   5,940,369 
136

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 24,641      Federal Signal Corp  $324,029 
 63,554      Flowserve Corp   3,041,059 
 68,098      Fluor Corp   3,644,605 
 148,334   *  Fortive Corp   7,151,182 
 73,398      Fortune Brands Home & Security, Inc   4,643,891 
 21,653      Franklin Electric Co, Inc   838,404 
 5,538      Freightcar America, Inc   82,516 
 8,768   *,e  FuelCell Energy, Inc   47,260 
 19,799   e  GATX Corp   885,609 
 2,187   *  Gencor Industries, Inc   38,491 
 30,017   *  Generac Holdings, Inc   1,134,342 
 21,698      General Cable Corp   319,612 
 119,598      General Dynamics Corp   17,567,750 
 4,540,233      General Electric Co   141,382,856 
 16,324   *  Gibraltar Industries, Inc   575,911 
 11,068      Global Brass & Copper Holdings, Inc   313,446 
 9,996      Gorman-Rupp Co   270,792 
 27,029      Graco, Inc   2,000,416 
 4,428      Graham Corp   79,793 
 20,718      Granite Construction, Inc   1,031,342 
 30,484   *  Great Lakes Dredge & Dock Corp   135,349 
 13,035   e  Greenbrier Cos, Inc   427,939 
 17,223      Griffon Corp   295,202 
 13,024      H&E Equipment Services, Inc   242,507 
 5,911      Hardinge, Inc   59,701 
 36,249      Harsco Corp   354,878 
 17,374   *,e  HC2 Holdings, Inc   79,920 
 98,194   *  HD Supply Holdings, Inc   3,553,641 
 8,701   e  HEICO Corp   604,806 
 18,295      HEICO Corp (Class A)   1,055,073 
 11,744   *  Herc Holdings, Inc   415,150 
 43,804      Hexcel Corp   1,891,019 
 28,500      Hillenbrand, Inc   921,975 
 371,909      Honeywell International, Inc   43,264,174 
 26,856      Hubbell, Inc   2,895,882 
 22,734      Huntington Ingalls   3,923,434 
 2,730      Hurco Cos, Inc   72,700 
 4,045      Hyster-Yale Materials Handling, Inc   258,031 
 37,151      IDEX Corp   3,335,788 
 3,513   *  IES Holdings, Inc   54,627 
 142,102      Illinois Tool Works, Inc   16,398,571 
 125,913      Ingersoll-Rand plc   8,342,995 
 8,446      Insteel Industries, Inc   293,836 
 44,089      ITT, Inc   1,398,062 
 52,136   *  Jacobs Engineering Group, Inc   2,790,319 
 15,232      John Bean Technologies Corp   1,019,325 
 47,731   e  Joy Global, Inc   1,318,808 
 5,112      Kadant, Inc   280,853 
 12,142      Kaman Corp   524,049 
 69,895      KBR, Inc   979,928 
 44,793      Kennametal, Inc   1,113,554 
 14,738   *,e  KEYW Holding Corp   150,917 
 24,712   *  KLX, Inc   798,198 
137

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 18,068   *,e  Kratos Defense & Security Solutions, Inc  $79,680 
 37,524      L-3 Communications Holdings, Inc   5,689,764 
 1,979   *  Lawson Products, Inc   32,456 
 9,010   *,e  Layne Christensen Co   72,080 
 23,407      Lennox International, Inc   3,670,218 
 29,834      Lincoln Electric Holdings, Inc   1,851,498 
 9,617   e  Lindsay Corp   674,729 
 129,164      Lockheed Martin Corp   32,643,618 
 11,159      LSI Industries, Inc   122,303 
 7,959   *  Lydall, Inc   355,608 
 62,639      Manitowoc Co, Inc   348,899 
 61,537   *  Manitowoc Foodservice, Inc   1,128,589 
 162,407      Masco Corp   5,924,607 
 19,091   *  Masonite International Corp   1,333,125 
 32,149   *  Mastec, Inc   786,043 
 18,997   *  Mercury Systems, Inc   492,402 
 43,101   *  Meritor, Inc   361,186 
 27,640   *  Middleby Corp   3,327,303 
 7,157   *  Milacron Holdings Corp   123,244 
 5,071      Miller Industries, Inc   108,824 
 15,534   *  Moog, Inc (Class A)   855,457 
 44,127   *  MRC Global, Inc   583,800 
 21,958      MSC Industrial Direct Co (Class A)   1,577,243 
 27,346      Mueller Industries, Inc   930,858 
 75,294      Mueller Water Products, Inc (Class A)   892,987 
 8,496   *  MYR Group, Inc   209,596 
 2,393   e  National Presto Industries, Inc   214,269 
 21,878   *,e  Navistar International Corp   280,476 
 14,901   *  NCI Building Systems, Inc   241,694 
 4,363   *  Neff Corp   42,626 
 12,614      NN, Inc   212,798 
 31,250      Nordson Corp   2,759,062 
 4,831   *  Nortek, Inc   419,717 
 81,546      Northrop Grumman Corp   17,665,310 
 51,845   *  NOW, Inc   949,282 
 4,023   *  NV5 Holdings, Inc   129,420 
 1,327      Omega Flex, Inc   45,264 
 27,401      Orbital ATK, Inc   2,387,175 
 16,581   *  Orion Marine Group, Inc   93,683 
 34,402      Oshkosh Truck Corp   1,895,206 
 56,057      Owens Corning, Inc   2,965,976 
 166,769      Paccar, Inc   9,834,368 
 63,138      Parker Hannifin Corp   7,209,728 
 7,953   *  Patrick Industries, Inc   513,446 
 81,258      Pentair plc   5,185,886 
 29,257   *  Pgt, Inc   351,084 
 79,073   *,e  Plug Power, Inc   141,541 
 10,543   *  Ply Gem Holdings, Inc   161,940 
 4,787      Powell Industries, Inc   176,353 
 2,412   *  Power Solutions International, Inc   42,427 
 1,112      Preformed Line Products Co   54,343 
 22,842      Primoris Services Corp   412,298 
 14,748   *,e  Proto Labs, Inc   811,730 
138

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 13,625      Quanex Building Products Corp  $272,364 
 78,775   *  Quanta Services, Inc   2,016,640 
 17,426      Raven Industries, Inc   361,764 
 145,550      Raytheon Co   20,308,591 
 17,285   *  RBC Bearings, Inc   1,314,179 
 20,168      Regal-Beloit Corp   1,230,450 
 41,807   *  Rexnord Corp   890,071 
 62,113      Rockwell Automation, Inc   7,105,727 
 65,999      Rockwell Collins, Inc   5,584,835 
 48,367      Roper Industries, Inc   8,239,802 
 3,027   *,e  Rush Enterprises, Inc   70,620 
 15,653   *  Rush Enterprises, Inc (Class A)   359,706 
 20,164      Simpson Manufacturing Co, Inc   822,691 
 5,253   *  SiteOne Landscape Supply, Inc   204,027 
 27,454      Snap-On, Inc   4,314,945 
 31,077   *,e  SolarCity Corp   829,756 
 5,336   *  Sparton Corp   111,042 
 64,517   *  Spirit Aerosystems Holdings, Inc (Class A)   2,798,747 
 35,117   *  SPX Corp   531,671 
 17,452   *  SPX FLOW, Inc   476,091 
 7,474      Standex International Corp   663,691 
 71,131      Stanley Works   8,656,643 
 10,632      Sun Hydraulics Corp   321,086 
 30,979   *,e  Sunrun, Inc   160,471 
 5,976      Supreme Industries, Inc   100,397 
 32,587   *,e  Taser International, Inc   943,720 
 15,081   *  Teledyne Technologies, Inc   1,583,505 
 8,477      Tennant Co   543,206 
 50,183      Terex Corp   1,211,418 
 8,797   e  Textainer Group Holdings Ltd   104,508 
 143,977      Textron, Inc   5,615,103 
 5,099   *,e  The ExOne Company   51,908 
 20,692   *  Thermon Group Holdings   417,565 
 38,654      Timken Co   1,292,976 
 25,845   e  Titan International, Inc   170,835 
 6,762   *,e  Titan Machinery, Inc   75,802 
 25,836      Toro Co   2,375,620 
 25,217   *  TransDigm Group, Inc   7,048,656 
 14,357   *  Trex Co, Inc   696,314 
 21,857   *  Trimas Corp   390,585 
 68,775      Trinity Industries, Inc   1,596,268 
 15,968      Triton International Ltd   268,103 
 23,858      Triumph Group, Inc   735,542 
 21,354   *  Tutor Perini Corp   536,412 
 42,341   *  United Rentals, Inc   3,373,307 
 380,564      United Technologies Corp   40,967,714 
 17,627   *  Univar, Inc   322,750 
 9,656      Universal Forest Products, Inc   1,044,007 
 42,430   *  USG Corp   1,194,829 
 10,648      Valmont Industries, Inc   1,394,356 
 4,334   *  Vectrus, Inc   135,004 
 3,422   *  Veritiv Corp   144,477 
 6,360   *  Vicor Corp   67,416 
139

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 30,544   e  W.W. Grainger, Inc  $6,684,554 
 32,243   *  Wabash National Corp   466,879 
 25,876   *  WABCO Holdings, Inc   2,594,587 
 12,701      Watsco, Inc   1,829,452 
 13,450      Watts Water Technologies, Inc (Class A)   831,882 
 20,492   *,e  WESCO International, Inc   1,142,224 
 42,542      Westinghouse Air Brake Technologies Corp   2,914,127 
 2,234   *,e  Willis Lease Finance Corp   60,318 
 25,682      Woodward Governor Co   1,503,424 
 80,712      Xylem, Inc   3,858,841 
        TOTAL CAPITAL GOODS   836,867,678 
               
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%        
 23,642      ABM Industries, Inc   879,719 
 40,054      Acacia Research (Acacia Technologies)   216,692 
 51,156   *  ACCO Brands Corp   574,993 
 23,077   *  Advisory Board Co   963,695 
 4,800   *,e  Aqua Metals, Inc   44,688 
 17,200   *  ARC Document Solutions, Inc   67,768 
 2,966      Barrett Business Services, Inc   127,479 
 22,044      Brady Corp (Class A)   708,494 
 31,405      Brink’s Co   1,030,712 
 15,707   *  Casella Waste Systems, Inc (Class A)   147,018 
 24,005   *  CBIZ, Inc   259,494 
 17,057      CEB, Inc   1,024,102 
 13,715      Ceco Environmental Corp   126,864 
 46,537      Cintas Corp   4,992,024 
 25,423   *  Clean Harbors, Inc   1,307,251 
 48,813   *  Copart, Inc   2,462,128 
 56,807      Covanta Holding Corp   910,048 
 4,164   *  CRA International, Inc   115,010 
 22,263      Deluxe Corp   1,504,756 
 18,658      Dun & Bradstreet Corp   2,411,546 
 64,481   *,m  Dyax Corp   71,574 
 12,402      Ennis, Inc   214,803 
 54,250      Equifax, Inc   7,185,955 
 17,629      Essendant, Inc   353,285 
 14,650      Exponent, Inc   744,366 
 4,553   *  Franklin Covey Co   74,760 
 20,255   *  FTI Consulting, Inc   867,724 
 9,541      G & K Services, Inc (Class A)   765,284 
 5,783   *  GP Strategies Corp   121,212 
 30,137      Healthcare Services Group   1,169,617 
 7,483      Heidrick & Struggles International, Inc   145,619 
 5,084   *  Heritage-Crystal Clean, Inc   64,109 
 25,719      Herman Miller, Inc   842,812 
 15,433   *  Hill International, Inc   64,356 
 21,929      HNI Corp   1,143,159 
 10,579   *  Huron Consulting Group, Inc   650,291 
 8,658   *  ICF International, Inc   358,268 
 6,918   *,e  IDI, Inc   35,835 
 15,602   *  Innerworkings, Inc   132,773 
 8,969      Insperity, Inc   703,977 
140

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 29,536      Interface, Inc  $527,513 
 60,535      KAR Auction Services, Inc   2,589,082 
 14,073      Kelly Services, Inc (Class A)   288,074 
 10,767      Kforce, Inc   192,299 
 18,271      Kimball International, Inc (Class B)   208,107 
 19,323      Knoll, Inc   487,906 
 24,613      Korn/Ferry International   566,345 
 34,839      Manpower, Inc   2,417,827 
 13,491      Matthews International Corp (Class A)   810,944 
 10,372      McGrath RentCorp   330,556 
 8,188   *  Mistras Group, Inc   205,191 
 19,252      Mobile Mini, Inc   625,883 
 17,466      MSA Safety, Inc   976,000 
 6,262      Multi-Color Corp   404,400 
 23,237   *  Navigant Consulting, Inc   458,001 
 176,268      Nielsen NV   9,493,794 
 22,397   *  On Assignment, Inc   827,569 
 92,177      Pitney Bowes, Inc   1,779,938 
 13,081      Quad   331,734 
 96,487      R.R. Donnelley & Sons Co   1,729,047 
 114,204      Republic Services, Inc   5,854,097 
 15,702      Resources Connection, Inc   233,960 
 60,455      Robert Half International, Inc   2,209,026 
 60,351      Rollins, Inc   1,700,691 
 22,513   *  RPX Corp   226,706 
 8,308   *  SP Plus Corp   199,641 
 36,944      Steelcase, Inc (Class A)   535,688 
 40,697   *  Stericycle, Inc   3,673,718 
 13,196   *,e  Team, Inc   364,342 
 28,151      Tetra Tech, Inc   927,012 
 19,809   *  TransUnion   648,150 
 6,571   *  TRC Cos, Inc   46,128 
 20,620   *  TriNet Group, Inc   447,248 
 20,186   *  TrueBlue, Inc   450,753 
 201,284      Tyco International plc   9,172,512 
 7,369      Unifirst Corp   861,289 
 10,179      US Ecology, Inc   461,109 
 76,567   *  Verisk Analytics, Inc   6,529,634 
 9,678      Viad Corp   336,988 
 2,132      VSE Corp   135,510 
 17,664   *  WageWorks, Inc   1,091,812 
 219,176      Waste Management, Inc   14,491,917 
 22,949      West Corp   507,402 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   111,939,803 
               
CONSUMER DURABLES & APPAREL - 1.6%        
 5,230   e  Arctic Cat, Inc   81,640 
 6,685      Bassett Furniture Industries, Inc   172,674 
 24,298   *,e  Beazer Homes USA, Inc   233,018 
 41,267      Brunswick Corp   2,047,669 
 36,066      CalAtlantic Group, Inc   1,305,950 
 71,673      Callaway Golf Co   766,901 
 24,197      Carter’s, Inc   2,449,946 
141

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 3,668   *  Cavco Industries, Inc  $364,526 
 17,041   *  Century Communities, Inc   301,626 
 136,383      Coach, Inc   5,879,471 
 13,284      Columbia Sportswear Co   760,509 
 34,925   *  CROCS, Inc   395,700 
 3,648      CSS Industries, Inc   95,979 
 4,107      Culp, Inc   117,173 
 15,525   *  Deckers Outdoor Corp   1,024,805 
 3,427   *  Delta Apparel, Inc   81,871 
 164,932      DR Horton, Inc   5,422,964 
 3,755      Escalade, Inc   40,291 
 11,434      Ethan Allen Interiors, Inc   397,103 
 3,208      Flexsteel Industries, Inc   131,849 
 19,903   *  Fossil Group, Inc   628,935 
 59,320   *,e  Garmin Ltd   3,222,856 
 20,862   *  G-III Apparel Group Ltd   835,106 
 54,749   *,e  GoPro, Inc   692,027 
 11,271   *,e  Green Brick Partners, Inc   79,573 
 184,503      Hanesbrands, Inc   4,918,850 
 34,395      Harman International Industries, Inc   2,842,403 
 54,973      Hasbro, Inc   4,465,457 
 13,597   *  Helen of Troy Ltd   1,354,397 
 7,845      Hooker Furniture Corp   181,455 
 59,283   *,e  Hovnanian Enterprises, Inc (Class A)   109,081 
 25,821   *,e  Iconix Brand Group, Inc   185,911 
 12,444   *  Installed Building Products Inc   445,869 
 12,744   *,e  iRobot Corp   483,252 
 7,723   *,e  Jakks Pacific, Inc   71,206 
 2,125      Johnson Outdoors, Inc   64,706 
 62,381   *  Kate Spade & Co   1,353,044 
 40,559   e  KB Home   636,776 
 22,054      La-Z-Boy, Inc   666,472 
 60,382      Leggett & Platt, Inc   3,174,282 
 4,675      Lennar Corp (B Shares)   175,499 
 88,307      Lennar Corp (Class A)   4,132,768 
 9,217   *,e  LGI Homes, Inc   316,420 
 10,480      Libbey, Inc   195,871 
 3,865      Lifetime Brands, Inc   51,752 
 47,749   *  Lululemon Athletica, Inc   3,707,710 
 9,944   *  M/I Homes, Inc   224,237 
 7,425   *  Malibu Boats Inc   101,277 
 4,381      Marine Products Corp   39,999 
 167,055      Mattel, Inc   5,576,296 
 3,826      MCBC Holdings, Inc   43,922 
 19,340      MDC Holdings, Inc   509,029 
 18,512   *  Meritage Homes Corp   673,652 
 84,026   *  Michael Kors Holdings Ltd   4,345,825 
 29,237   *  Mohawk Industries, Inc   6,108,779 
 6,272      Movado Group, Inc   141,684 
 1,709      Nacco Industries, Inc (Class A)   96,165 
 14,642   *  Nautilus, Inc   275,855 
 4,014   *  New Home Co Inc   39,538 
 217,520      Newell Brands, Inc   11,411,099 
142

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 653,861      Nike, Inc (Class B)  $36,289,285 
 1,683   *  NVR, Inc   2,869,515 
 7,374      Oxford Industries, Inc   421,645 
 19,283   *,e  Performance Sports Group Ltd   64,212 
 5,118   *  Perry Ellis International, Inc   109,628 
 39,183      Phillips-Van Heusen Corp   3,959,834 
 29,487   e  Polaris Industries, Inc   2,911,841 
 18,756      Pool Corp   1,918,364 
 168,413      Pulte Homes, Inc   3,566,987 
 30,341      Ralph Lauren Corp   2,976,149 
 18,944   *  Sequential Brands Group, Inc   154,015 
 62,341   *  Skechers U.S.A., Inc (Class A)   1,497,431 
 26,483   *  Smith & Wesson Holding Corp   779,924 
 29,741   *  Steven Madden Ltd   1,041,530 
 9,075   e  Sturm Ruger & Co, Inc   617,100 
 3,027      Superior Uniform Group, Inc   48,644 
 15,358   *  Taylor Morrison Home Corp   249,567 
 26,059   *,e  Tempur-Pedic International, Inc   1,970,842 
 75,808   *  Toll Brothers, Inc   2,123,382 
 20,118   *  TopBuild Corp   759,656 
 80,243   *  TRI Pointe Homes, Inc   1,079,268 
 27,318   *  Tumi Holdings, Inc   730,756 
 22,522      Tupperware Brands Corp   1,411,679 
 90,690   *  Under Armour, Inc   3,237,633 
 89,311   *,e  Under Armour, Inc (Class A)   3,524,212 
 9,279   *  Unifi, Inc   250,811 
 6,905   *  Universal Electronics, Inc   534,033 
 11,056   *  Vera Bradley, Inc   160,975 
 166,600      VF Corp   10,400,838 
 21,199   *,e  Vince Holding Corp   105,995 
 27,714   *  Vista Outdoor, Inc   1,387,086 
 11,279   *  WCI Communities, Inc   189,826 
 2,514      Weyco Group, Inc   70,241 
 36,310      Whirlpool Corp   6,984,592 
 9,640   *  William Lyon Homes, Inc   167,254 
 47,073      Wolverine World Wide, Inc   1,152,818 
 12,715   *  Zagg, Inc   80,486 
        TOTAL CONSUMER DURABLES & APPAREL   182,448,754 
               
CONSUMER SERVICES - 2.2%        
 6,940   *  American Public Education, Inc   198,762 
 44,579   *  Apollo Group, Inc (Class A)   400,765 
 112,829      ARAMARK Holdings Corp   4,044,920 
 5,634   *  Ascent Media Corp (Series A)   95,891 
 45,558   *  Belmond Ltd.   523,461 
 11,284   *  BJ’s Restaurants, Inc   438,271 
 50,801      Bloomin’ Brands, Inc   913,402 
 9,783      Bob Evans Farms, Inc   359,819 
 2,987   *,e  Bojangles’, Inc   51,914 
 41,402   *  Boyd Gaming Corp   811,893 
 6,509   *  Bridgepoint Education, Inc   46,409 
 22,432   *  Bright Horizons Family Solutions   1,504,514 
 26,863      Brinker International, Inc   1,266,322 
143

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 9,211   *  Buffalo Wild Wings, Inc  $1,547,080 
 21,649   *  Caesars Acquisition Co   232,943 
 26,717   *,e  Caesars Entertainment Corp   184,347 
 6,499   *  Cambium Learning Group, Inc   31,455 
 4,909      Capella Education Co   293,902 
 28,671   *  Career Education Corp   198,117 
 198,950      Carnival Corp   9,294,944 
 6,526      Carriage Services, Inc   158,647 
 29,234   *  Carrols Restaurant Group, Inc   354,024 
 11,016   *  Century Casinos, Inc   70,282 
 19,861      Cheesecake Factory   1,027,410 
 38,833   *,e  Chegg, Inc   209,310 
 14,081   *  Chipotle Mexican Grill, Inc (Class A)   5,970,203 
 15,685      Choice Hotels International, Inc   757,429 
 6,490      Churchill Downs, Inc   851,034 
 9,542   *,e  Chuy’s Holdings, Inc   321,756 
 29,950      ClubCorp Holdings, Inc   434,275 
 2,954      Collectors Universe   63,541 
 9,315   e  Cracker Barrel Old Country Store, Inc   1,466,274 
 58,950      Darden Restaurants, Inc   3,628,962 
 16,586   *  Dave & Buster’s Entertainment, Inc   738,077 
 11,445   *  Del Frisco’s Restaurant Group, Inc   170,759 
 10,843   *  Del Taco Restaurants, Inc   113,960 
 36,430   *  Denny’s Corp   406,559 
 30,409   e  DeVry Education Group, Inc   677,208 
 17,203   *,e  Diamond Resorts International, Inc   519,187 
 8,431      DineEquity, Inc   686,030 
 25,448      Domino’s Pizza, Inc   3,748,490 
 41,255      Dunkin Brands Group, Inc   1,869,264 
 9,550   *,e  El Pollo Loco Holdings, Inc   125,678 
 15,767   *  Eldorado Resorts, Inc   227,833 
 1,317   *,e  Empire Resorts, Inc   20,387 
 38,721      Extended Stay America, Inc   548,289 
 12,714   *  Fiesta Restaurant Group, Inc   284,031 
 4,866      Golden Entertainment, Inc   66,226 
 1,904      Graham Holdings Co   958,169 
 19,507   *  Grand Canyon Education, Inc   820,464 
 113,493      H&R Block, Inc   2,699,998 
 4,579   *  Habit Restaurants, Inc   74,363 
 256,453      Hilton Worldwide Holdings, Inc   5,947,145 
 70,943   *  Houghton Mifflin Harcourt Co   1,202,484 
 13,420   *,e  Hyatt Hotels Corp   676,905 
 47,329      International Game Technology plc   989,176 
 12,648      International Speedway Corp (Class A)   427,123 
 54,591      Interval Leisure Group, Inc   981,546 
 10,279   *  Intrawest Resorts Holdings Inc   149,457 
 12,178   *  Isle of Capri Casinos, Inc   228,094 
 6,337   *  J Alexander’s Holdings, Inc   60,645 
 15,909      Jack in the Box, Inc   1,406,197 
 6,376   *,e  Jamba, Inc   68,861 
 15,763   *  K12, Inc   195,146 
 3,281   *,e  Kona Grill, Inc   41,013 
 41,024   *  La Quinta Holdings, Inc   507,467 
144

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 177,953      Las Vegas Sands Corp  $9,013,319 
 1,654      Liberty Tax, Inc   22,924 
 43,945   *  LifeLock, Inc   735,200 
 5,845   *  Lindblad Expeditions Holdings, Inc   58,099 
 8,898   *  Luby’s, Inc   41,287 
 8,153      Marcus Corp   180,589 
 91,530   e  Marriott International, Inc (Class A)   6,562,701 
 11,656      Marriott Vacations Worldwide Corp   889,353 
 434,941      McDonald’s Corp   51,170,809 
 240,632   *  MGM Resorts International   5,770,355 
 4,064   *  Monarch Casino & Resort, Inc   94,813 
 1,566   *  Nathan’s Famous, Inc   76,061 
 4,850   *,e  Noodles & Co   35,842 
 83,523   *  Norwegian Cruise Line Holdings Ltd   3,558,080 
 10,895   *  Panera Bread Co (Class A)   2,389,491 
 12,134      Papa John’s International, Inc   897,309 
 36,175   *  Penn National Gaming, Inc   543,349 
 26,419   *  Pinnacle Entertainment, Inc   288,495 
 7,642   *,e  Planet Fitness, Inc   156,661 
 11,300   *  Popeyes Louisiana Kitchen, Inc   647,264 
 11,169   *,e  Potbelly Corp   145,532 
 7,530   *  Red Lion Hotels Corp   59,788 
 6,436   *  Red Robin Gourmet Burgers, Inc   311,245 
 14,559   *  Red Rock Resorts, Inc   335,003 
 17,984   *  Regis Corp   241,705 
 81,692      Royal Caribbean Cruises Ltd   5,917,768 
 25,656   *  Ruby Tuesday, Inc   103,650 
 14,638      Ruth’s Chris Steak House, Inc   233,769 
 25,187   *,e  Scientific Games Corp (Class A)   268,367 
 30,915   e  SeaWorld Entertainment, Inc   476,091 
 85,699      Service Corp International   2,375,576 
 66,458   *  ServiceMaster Global Holdings, Inc   2,514,106 
 7,607   *,e  Shake Shack, Inc   304,356 
 32,963      Six Flags Entertainment Corp   1,858,784 
 22,829      Sonic Corp   614,328 
 25,664   e  Sotheby’s (Class A)   831,257 
 4,910      Speedway Motorsports, Inc   86,760 
 705,723      Starbucks Corp   40,967,220 
 82,622      Starwood Hotels & Resorts Worldwide, Inc   6,449,473 
 879   *  Steak N Shake Co   364,882 
 4,510   *  Strayer Education, Inc   206,197 
 29,590      Texas Roadhouse, Inc (Class A)   1,397,240 
 16,884      Vail Resorts, Inc   2,415,594 
 13,931   *,e  Weight Watchers International, Inc   166,197 
 101,964      Wendy’s   984,972 
 7,134      Wingstop, Inc   185,484 
 53,840      Wyndham Worldwide Corp   3,823,717 
 39,072   e  Wynn Resorts Ltd   3,827,102 
 189,157      Yum! Brands, Inc   16,914,419 
 9,183   *,e  Zoe’s Kitchen, Inc   326,364 
        TOTAL CONSUMER SERVICES   243,227,456 
145

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
DIVERSIFIED FINANCIALS - 3.4%     
 28,477   *  Affiliated Managers Group, Inc  $4,179,854 
 216,936      Ally Financial, Inc   3,913,525 
 394,962      American Express Co   25,459,250 
 76,813      Ameriprise Financial, Inc   7,361,758 
 7,917   e  Arlington Asset Investment Corp (Class A)   110,284 
 19,969      Artisan Partners Asset Management, Inc   558,333 
 2,529      Associated Capital Group, Inc   75,592 
 4,505   e  B. Riley Financial, Inc   40,905 
 508,794      Bank of New York Mellon Corp   20,046,484 
 2,587   *,e  BBX Capital Corp   50,033 
 105,406      BGC Partners, Inc (Class A)   934,951 
 61,253      BlackRock, Inc   22,433,911 
 6,593      Calamos Asset Management, Inc (Class A)   45,887 
 247,818      Capital One Financial Corp   16,623,631 
 11,259      Cash America International, Inc   482,448 
 41,466      CBOE Holdings, Inc   2,852,861 
 570,873      Charles Schwab Corp   16,224,211 
 165,817      CME Group, Inc   16,953,130 
 14,939      Cohen & Steers, Inc   643,871 
 46,375   *,e  Cowen Group, Inc   144,690 
 4,013   *,e  Credit Acceptance Corp   725,029 
 1,470      Diamond Hill Investment Group, Inc   280,755 
 201,043      Discover Financial Services   11,427,284 
 131,332   *  E*TRADE Financial Corp   3,293,807 
 53,537      Eaton Vance Corp   2,024,234 
 15,191   *,e  Encore Capital Group, Inc   370,812 
 10,301   *  Enova International, Inc   93,636 
 19,023      Evercore Partners, Inc (Class A)   963,895 
 20,397   *  Ezcorp, Inc (Class A)   184,797 
 20,437      Factset Research Systems, Inc   3,514,346 
 3,209      FBR & Co   48,360 
 52,116      Federated Investors, Inc (Class B)   1,645,302 
 25,954   e  Financial Engines, Inc   684,926 
 16,138      First Cash Financial Services, Inc   828,041 
 36,692   *  FNFV Group   437,736 
 182,644      Franklin Resources, Inc   6,609,886 
 18,429      Gain Capital Holdings, Inc   123,843 
 2,529      GAMCO Investors, Inc (Class A)   86,340 
 189,957      Goldman Sachs Group, Inc   30,167,071 
 19,045   *  Green Dot Corp   460,889 
 21,555      Greenhill & Co, Inc   427,436 
 17,589      HFF, Inc (Class A)   496,186 
 5,864      Houlihan Lokey, Inc   134,461 
 30,972      Interactive Brokers Group, Inc (Class A)   1,079,064 
 57,636      IntercontinentalExchange Group, Inc   15,227,431 
 6,188   *  INTL FCStone, Inc   180,318 
 191,418      Invesco Ltd   5,585,577 
 14,488      Investment Technology Group, Inc   241,950 
 28,213   e  iShares Russell 2000 Index Fund   3,416,312 
 56,936   e  iShares Russell 3000 Index Fund   7,299,765 
 70,310      Janus Capital Group, Inc   1,061,681 
 21,930   *  KCG Holdings, Inc   331,801 
 45,221   *  Ladenburg Thalmann Financial Services, Inc   110,339 
146

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 57,620      Lazard Ltd (Class A)  $2,059,339 
 51,330      Legg Mason, Inc   1,752,406 
 159,091   *,e  LendingClub Corp   735,000 
 160,551      Leucadia National Corp   2,931,661 
 41,809   e  LPL Financial Holdings, Inc   1,126,753 
 7,132   *  Manning & Napier, Inc   55,558 
 19,495      MarketAxess Holdings, Inc   3,151,562 
 3,292      Marlin Business Services Corp   60,441 
 9,097      Moelis & Co   226,424 
 85,064      Moody’s Corp   9,017,635 
 710,435      Morgan Stanley   20,410,798 
 10,793      Morningstar, Inc   912,872 
 44,539      MSCI, Inc (Class A)   3,832,136 
 52,287      NASDAQ OMX Group, Inc   3,699,828 
 161,185      Navient Corp   2,288,827 
 9,011      Nelnet, Inc (Class A)   364,134 
 10,526   *  NewStar Financial, Inc   107,576 
 101,317      Northern Trust Corp   6,848,016 
 100,741      NorthStar Asset Management Group, Inc   1,194,788 
 13,585      OM Asset Management plc   190,190 
 23,739   *,e  On Deck Capital, Inc   123,443 
 25,988   *  OneMain Holdings, Inc   749,494 
 3,966      Oppenheimer Holdings, Inc   62,425 
 9,653   *  Pico Holdings, Inc   97,302 
 10,950   *  Piper Jaffray Cos   452,673 
 8,578      PJT Partners, Inc   218,996 
 22,229   *,e  PRA Group, Inc   619,300 
 4,748      Pzena Investment Management, Inc (Class A)   37,319 
 57,925      Raymond James Financial, Inc   3,180,082 
 4,505   *  Regional Management Corp   84,694 
 6,469      Resource America, Inc (Class A)   63,008 
 129,553      S&P Global, Inc   15,831,377 
 8,217   *  Safeguard Scientifics, Inc   106,164 
 53,693   *  Santander Consumer USA Holdings, Inc   590,086 
 62,456      SEI Investments Co   2,810,520 
 3,516   e  Silvercrest Asset Management Group, Inc   42,719 
 238,838   *  SLM Corp   1,717,245 
 2,000   e  SPDR S&P MidCap 400 ETF Trust   567,560 
 62,987      SPDR Trust Series 1   13,677,627 
 188,173      State Street Corp   12,378,020 
 28,122   *  Stifel Financial Corp   994,113 
 397,276   *  Synchrony Financial   11,076,055 
 118,788      T Rowe Price Group, Inc   8,397,124 
 131,852      TD Ameritrade Holding Corp   4,003,027 
 13,907      Tiptree Financial, Inc   72,595 
 12,088   e  Virtu Financial, Inc   207,914 
 2,871   e  Virtus Investment Partners, Inc   241,997 
 100,020      Voya Financial, Inc   2,563,513 
 38,336      Waddell & Reed Financial, Inc (Class A)   700,015 
 3,840      Westwood Holdings Group, Inc   205,901 
 55,673   e  WisdomTree Investments, Inc   553,390 
 3,115   *,e  World Acceptance Corp   135,378 
        TOTAL DIVERSIFIED FINANCIALS   382,225,939 
147

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
ENERGY - 6.4%        
 45,655   *  Abraxas Petroleum Corp  $52,960 
 1,000      Adams Resources & Energy, Inc   30,270 
 22,186      Alon USA Energy, Inc   156,855 
 250,142      Anadarko Petroleum Corp   13,640,243 
 78,768   *  Antero Resources Corp   2,062,934 
 187,738      Apache Corp   9,856,245 
 34,311      Archrock, Inc   305,711 
 9,798   e  Ardmore Shipping Corp   68,880 
 31,018   e  Atwood Oceanics, Inc   331,272 
 214,446      Baker Hughes, Inc   10,256,952 
 24,502   *,e  Bill Barrett Corp   146,277 
 15,099   e  Bristow Group, Inc   163,220 
 223,572      Cabot Oil & Gas Corp   5,515,521 
 18,363   *,e  California Resources Corp   188,404 
 58,552   *  Callon Petroleum Co   666,907 
 8,536   e  CARBO Ceramics, Inc   120,358 
 26,976   *  Carrizo Oil & Gas, Inc   884,813 
 99,227   *  Cheniere Energy, Inc   4,150,665 
 312,478   *,e  Chesapeake Energy Corp   1,693,631 
 923,723      Chevron Corp   94,663,133 
 45,697      Cimarex Energy Co   5,484,554 
 3,003   *,e  Clayton Williams Energy, Inc   113,243 
 41,240   *  Clean Energy Fuels Corp   123,308 
 63,796   *  Concho Resources, Inc   7,923,463 
 612,064      ConocoPhillips   24,984,452 
 111,730   e  Consol Energy, Inc   2,165,327 
 11,630   *  Contango Oil & Gas Co   107,345 
 41,077   *,e  Continental Resources, Inc   1,809,442 
 7,838   e  CVR Energy, Inc   116,002 
 10,061   *  Dawson Geophysical Co   74,954 
 29,573      Delek US Holdings, Inc   370,254 
 172,907   e  Denbury Resources, Inc   501,430 
 255,774   *  Devon Energy Corp   9,791,029 
 41,496      DHT Holdings, Inc   193,371 
 27,486   e  Diamond Offshore Drilling, Inc   624,482 
 35,026   *  Diamondback Energy, Inc   3,074,933 
 18,745   *,e  Dorian LPG Ltd   115,657 
 18,423   *  Dril-Quip, Inc   1,002,764 
 47,471      Energen Corp   2,249,176 
 147,972      Ensco plc   1,356,903 
 269,478      EOG Resources, Inc   22,016,353 
 24,487   *,e  EP Energy Corp   102,111 
 84,188      EQT Corp   6,133,938 
 14,655   *  Era Group, Inc   128,671 
 15,554   *,e  Erin Energy Corp   39,818 
 8,771      Evolution Petroleum Corp   47,802 
 70,956   *,e  EXCO Resources, Inc   97,919 
 19,733   *  Exterran Corp   251,004 
 2,040,801      Exxon Mobil Corp   181,529,249 
 31,336   *  Fairmount Santrol Holdings, Inc   214,652 
 110,371   *  FMC Technologies, Inc   2,801,216 
148

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 29,393   *  Forum Energy Technologies, Inc  $479,988 
 27,792   e  Frank’s International NV   342,397 
 48,359   e  Frontline Ltd   383,970 
 21,007   e  GasLog Ltd   280,864 
 19,674   *  Gener8 Maritime, Inc   104,666 
 5,250   *,e  Geospace Technologies Corp   86,625 
 44,429   e  Golar LNG Ltd   753,516 
 19,228      Green Plains Renewable Energy, Inc   436,091 
 60,692   *  Gulfport Energy Corp   1,765,530 
 420,048      Halliburton Co   18,339,296 
 55,572   *  Helix Energy Solutions Group, Inc   441,242 
 47,544   e  Helmerich & Payne, Inc   2,946,302 
 137,910      Hess Corp   7,398,871 
 79,885      HollyFrontier Corp   2,030,677 
 27,560   *,e  Hornbeck Offshore Services, Inc   219,929 
 9,110   *  Independence Contract Drilling, Inc   45,823 
 341   *,e  Isramco, Inc   26,973 
 18,481   *  Jones Energy, Inc (Class A)   68,380 
 942,694      Kinder Morgan, Inc   19,164,969 
 76,225   *  Kosmos Energy LLC   423,049 
 69,878   *,e  Laredo Petroleum Holdings, Inc   700,178 
 414,965      Marathon Oil Corp   5,660,123 
 258,797      Marathon Petroleum Corp   10,194,014 
 40,167   *  Matador Resources Co   847,122 
 12,980   *  Matrix Service Co   215,079 
 128,249   *  McDermott International, Inc   664,330 
 47,008   *  Memorial Resource Development Corp   704,180 
 82,691   e  Murphy Oil Corp   2,268,214 
 134,789      Nabors Industries Ltd   1,213,101 
 186,540      National Oilwell Varco, Inc   6,034,569 
 5,354   *  Natural Gas Services Group, Inc   134,439 
 62,110   e  Navios Maritime Acq Corp   95,028 
 97,070   *  Newfield Exploration Co   4,203,131 
 38,370   *  Newpark Resources, Inc   242,498 
 137,988   e  Noble Corp plc   1,018,351 
 206,518      Noble Energy, Inc   7,376,823 
 43,662   e  Nordic American Tanker Shipping   537,043 
 42,056   *,e  Northern Oil And Gas, Inc   166,542 
 86,615   *  Oasis Petroleum, Inc   658,274 
 373,807      Occidental Petroleum Corp   27,934,597 
 44,342      Oceaneering International, Inc   1,236,255 
 24,829   *  Oil States International, Inc   767,713 
 103,988      Oneok, Inc   4,657,623 
 17,279      Overseas Shipholding Group, Inc   220,998 
 17,539   *,e  Pacific Ethanol, Inc   119,791 
 12,659      Panhandle Oil and Gas, Inc (Class A)   207,101 
 21,418   *  Par Petroleum Corp   321,270 
 56,086   *  Parker Drilling Co   116,098 
 73,794   *  Parsley Energy, Inc   2,103,867 
 70,635      Patterson-UTI Energy, Inc   1,369,613 
 47,755      PBF Energy, Inc   1,066,847 
 22,397   *  PDC Energy, Inc   1,226,684 
 5,035   *  PHI, Inc   97,276 
149

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 222,118      Phillips 66  $16,894,295 
 40,631   *  Pioneer Energy Services Corp   127,988 
 80,780      Pioneer Natural Resources Co   13,132,405 
 105,447      Questar Market Resources, Inc   1,919,135 
 81,189      Range Resources Corp   3,272,729 
 26,863   *,e  Renewable Energy Group, Inc   261,914 
 3,235   *  Rex American Resources Corp   212,863 
 58,289   *  Rice Energy, Inc   1,359,299 
 14,006   *  RigNet, Inc   167,372 
 17,417   *  Ring Energy, Inc   138,291 
 65,300      Rowan Cos plc   995,172 
 37,937   *,e  RPC, Inc   549,707 
 38,250   *  RSP Permian, Inc   1,375,087 
 28,765   *,e  Sanchez Energy Corp   182,370 
 680,628      Schlumberger Ltd   54,804,167 
 82,818      Scorpio Tankers, Inc   394,214 
 7,758   *,e  SEACOR Holdings, Inc   438,482 
 209,981   *,e  Seadrill Ltd   623,644 
 21,549      SemGroup Corp   624,059 
 29,038   e  Ship Finance International Ltd   438,474 
 34,423   e  SM Energy Co   933,896 
 191,225   *,e  Southwestern Energy Co   2,788,060 
 342,655      Spectra Energy Corp   12,325,300 
 73,622      Superior Energy Services   1,175,743 
 101,034   *  Synergy Resources Corp   657,731 
 76,243      Targa Resources Investments, Inc   2,840,814 
 21,246   e  Teekay Corp   131,725 
 79,821   e  Teekay Tankers Ltd (Class A)   235,472 
 16,145      Tesco Corp   106,718 
 59,059      Tesoro Corp   4,497,343 
 35,635   *  Tetra Technologies, Inc   214,166 
 23,034   e  Tidewater, Inc   98,355 
 168,506   e  Transocean Ltd (NYSE)   1,851,881 
 25,671   *  Unit Corp   320,887 
 31,833      US Silica Holdings Inc   1,097,283 
 230,099      Valero Energy Corp   12,029,576 
 18,049   *  W&T Offshore, Inc   35,917 
 436,513   *  Weatherford International Ltd   2,479,394 
 32,983      Western Refining, Inc   687,696 
 9,243   *  Westmoreland Coal Co   88,271 
 98,790   *,e  Whiting Petroleum Corp   728,082 
 18,561   *  Willbros Group, Inc   38,050 
 346,747      Williams Cos, Inc   8,311,526 
 33,297      World Fuel Services Corp   1,584,937 
 134,438   *  WPX Energy, Inc   1,343,036 
        TOTAL ENERGY   715,131,529 
               
FOOD & STAPLES RETAILING - 2.0%        
 13,072      Andersons, Inc   483,403 
 17,822      Casey’s General Stores, Inc   2,379,950 
 9,311   *  Chefs’ Warehouse Holdings, Inc   150,373 
 215,274      Costco Wholesale Corp   35,998,118 
 528,018      CVS Health Corp   48,957,829 
150

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 5,784      Ingles Markets, Inc (Class A)  $224,593 
 465,970      Kroger Co   15,931,514 
 5,067   *,e  Natural Grocers by Vitamin C   69,367 
 13,206   *  Performance Food Group Co   362,373 
 9,131      Pricesmart, Inc   711,122 
 518,611   *  Rite Aid Corp   3,630,277 
 9,346   *  Smart & Final Stores, Inc   128,881 
 17,874      Spartan Stores, Inc   563,031 
 68,237   *,e  Sprouts Farmers Market, Inc   1,578,322 
 122,309   *  Supervalu, Inc   596,868 
 256,975      Sysco Corp   13,308,735 
 23,986   *  United Natural Foods, Inc   1,198,820 
 16,907   *  US Foods Holding Corp   408,473 
 2,593      Village Super Market (Class A)   82,043 
 425,754      Walgreens Boots Alliance, Inc   33,741,005 
 749,398      Wal-Mart Stores, Inc   54,683,572 
 4,144      Weis Markets, Inc   214,120 
 156,050      Whole Foods Market, Inc   4,756,404 
        TOTAL FOOD & STAPLES RETAILING   220,159,193 
               
FOOD, BEVERAGE & TOBACCO - 5.2%        
 1,581      Alico, Inc   46,766 
 2,499   *  Alliance One International, Inc   43,233 
 959,469      Altria Group, Inc   64,956,051 
 14,217   *,e  Amplify Snack Brands, Inc   202,734 
 281,735      Archer Daniels Midland Co   12,700,614 
 30,187      B&G Foods, Inc (Class A)   1,557,347 
 29,317   *  Blue Buffalo Pet Products, Inc   752,861 
 4,107   *,e  Boston Beer Co, Inc (Class A)   751,088 
 13,324   e  Brown-Forman Corp   1,407,814 
 48,678      Brown-Forman Corp (Class B)   4,779,693 
 67,929      Bunge Ltd   4,472,445 
 7,234      Calavo Growers, Inc   475,853 
 14,903   e  Cal-Maine Foods, Inc   624,436 
 86,966      Campbell Soup Co   5,415,373 
 2,067   e  Coca-Cola Bottling Co Consolidated   294,361 
 1,910,672      Coca-Cola Co   83,362,619 
 206,920      ConAgra Foods, Inc   9,675,579 
 81,459      Constellation Brands, Inc (Class A)   13,410,595 
 3,993   *  Craft Brewers Alliance, Inc   46,878 
 79,478   *  Darling International, Inc   1,254,163 
 51,471   e  Dean Foods Co   950,155 
 90,429      Dr Pepper Snapple Group, Inc   8,908,161 
 3,496   *  Farmer Bros Co   107,222 
 84,587      Flowers Foods, Inc   1,555,555 
 19,090      Fresh Del Monte Produce, Inc   1,085,266 
 8,938   *,e  Freshpet, Inc   78,118 
 291,268      General Mills, Inc   20,939,257 
 46,993   *  Hain Celestial Group, Inc   2,480,760 
 70,214      Hershey Co   7,776,903 
 132,340      Hormel Foods Corp   4,942,899 
 32,359      Ingredion, Inc   4,311,513 
 5,854   *,e  Inventure Foods, Inc   50,461 
151

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 7,308      J&J Snack Foods Corp  $888,726 
 56,696      J.M. Smucker Co   8,740,255 
 6,282      John B. Sanfilippo & Son, Inc   293,181 
 121,601      Kellogg Co   10,057,619 
 294,734      Kraft Heinz Co   25,462,070 
 11,079      Lancaster Colony Corp   1,439,827 
 10,815   *  Landec Corp   124,372 
 1,889   *  Lifeway Foods, Inc   18,871 
 4,909   e  Limoneira Co   86,840 
 60,727      McCormick & Co, Inc   6,209,336 
 91,491      Mead Johnson Nutrition Co   8,160,997 
 4,975      Mgp Ingredients, Inc   213,925 
 82,334      Molson Coors Brewing Co (Class B)   8,411,241 
 732,577      Mondelez International, Inc   32,218,736 
 73,282   *  Monster Beverage Corp   11,771,288 
 5,601   *  National Beverage Corp   321,273 
 13,153   *  Omega Protein Corp   296,206 
 715,749      PepsiCo, Inc   77,959,381 
 763,552      Philip Morris International, Inc   76,553,724 
 28,735   e  Pilgrim’s Pride Corp   668,089 
 56,368      Pinnacle Foods, Inc   2,830,237 
 31,413   *  Post Holdings, Inc   2,722,565 
 9,974   *  Primo Water   119,489 
 409,813      Reynolds American, Inc   20,515,239 
 9,702   e  Sanderson Farms, Inc   849,798 
 127   *  Seaboard Corp   372,110 
 3,366   *  Seneca Foods Corp   131,846 
 39,152      Snyder’s-Lance, Inc   1,341,348 
 9,335   *,e  Synutra International, Inc   32,579 
 8,246   e  Tootsie Roll Industries, Inc   306,174 
 26,731   *  TreeHouse Foods, Inc   2,758,372 
 142,101      Tyson Foods, Inc (Class A)   10,458,634 
 9,195      Universal Corp   545,355 
 42,850   e  Vector Group Ltd   946,557 
 84,913   *  WhiteWave Foods Co (Class A)   4,711,822 
        TOTAL FOOD, BEVERAGE & TOBACCO   577,954,855 
               
HEALTH CARE EQUIPMENT & SERVICES - 5.3%        
 8,642   *,e  AAC Holdings, Inc   195,914 
 10,727      Abaxis, Inc   530,557 
 711,902      Abbott Laboratories   31,857,614 
 20,289   *  Abiomed, Inc   2,393,493 
 35,682   *,e  Acadia Healthcare Co, Inc   2,016,033 
 33,412   *  Accuray, Inc   183,098 
 14,051      Aceto Corp   361,251 
 3,135   *  Addus HomeCare Corp   59,126 
 6,033   *,e  Adeptus Health, Inc   268,891 
 168,110      Aetna Inc   19,367,953 
 16,272   *,e  Air Methods Corp   541,695 
 42,132   *  Alere, Inc   1,579,950 
 36,573   *  Align Technology, Inc   3,260,483 
 90,925   *  Allscripts Healthcare Solutions, Inc   1,283,861 
 3,624   *  Almost Family, Inc   144,199 
152

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 15,503   *  Amedisys, Inc  $830,186 
 4,344   *  American Renal Associates Holdings, Inc   103,604 
 87,100      AmerisourceBergen Corp   7,420,049 
 22,969   *  AMN Healthcare Services, Inc   971,589 
 26,266   *  Amsurg Corp   1,970,213 
 6,075      Analogic Corp   510,421 
 10,989   *  Angiodynamics, Inc   182,307 
 6,839   *  Anika Therapeutics, Inc   341,403 
 129,192      Anthem, Inc   16,968,077 
 19,059   *,e  athenahealth, Inc   2,435,550 
 15,204   *  AtriCure, Inc   230,949 
 618      Atrion Corp   294,662 
 5,668   *,e  Avinger, Inc   28,000 
 11,914   *  AxoGen, Inc   80,062 
 35,941      Bard (C.R.), Inc   8,041,080 
 248,104      Baxter International, Inc   11,913,954 
 102,480      Becton Dickinson & Co   18,036,480 
 29,228   *,e  BioScrip, Inc   74,824 
 11,531   *  BioTelemetry, Inc   219,320 
 655,405   *  Boston Scientific Corp   15,913,233 
 89,907   *  Brookdale Senior Living, Inc   1,660,582 
 17,379      Cantel Medical Corp   1,163,524 
 12,254   *  Capital Senior Living Corp   238,708 
 159,809      Cardinal Health, Inc   13,360,032 
 15,265   *  Cardiovascular Systems, Inc   299,347 
 14,031   *  Castlight Health, Inc   52,336 
 81,763   *  Centene Corp   5,768,380 
 143,981   *  Cerner Corp   8,982,975 
 49,706   *,e  Cerus Corp   367,327 
 7,648      Chemed Corp   1,125,327 
 123,921      Cigna Corp   15,980,852 
 6,476   *  Civitas Solutions, Inc   138,781 
 55,890   *,e  Community Health Systems, Inc   713,715 
 5,561   e  Computer Programs & Systems, Inc   220,438 
 18,046   *,e  ConforMIS, Inc   125,781 
 13,375      Conmed Corp   543,560 
 23,821      Cooper Cos, Inc   4,346,618 
 4,880   *  Corvel Corp   220,576 
 6,175   *  Cotiviti Holdings, Inc   149,064 
 13,339   *  Cross Country Healthcare, Inc   195,016 
 15,190      CryoLife, Inc   221,318 
 6,000   *  Cutera, Inc   64,740 
 11,463   *  Cynosure, Inc (Class A)   630,006 
 81,923   *  DaVita, Inc   6,352,309 
 112,466      DENTSPLY SIRONA, Inc   7,202,323 
 40,117   *  DexCom, Inc   3,699,991 
 21,692   *,e  Diplomat Pharmacy, Inc   779,394 
 103,186   *  Edwards Lifesciences Corp   11,816,861 
 35,369   *,e  Endologix, Inc   499,057 
 23,345      Ensign Group, Inc   501,917 
 2,354   *  Entellus Medical, Inc   42,137 
 90,833   *  Envision Healthcare Holdings, Inc   2,233,583 
 7,148   *  Evolent Health, Inc   168,264 
153

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 5,211   *  Exactech, Inc  $140,853 
 312,592   *  Express Scripts Holding Co   23,778,873 
 19,474   *  GenMark Diagnostics, Inc   207,398 
 8,056   *  Glaukos Corp   281,638 
 34,230   *  Globus Medical, Inc   785,578 
 24,777   *  Haemonetics Corp   751,239 
 26,386   *  Halyard Health, Inc   912,692 
 151,875   *  HCA Holdings, Inc   11,714,119 
 20,916   *  HealthEquity, Inc   617,440 
 44,560      Healthsouth Corp   1,918,308 
 12,669   *  HealthStream, Inc   306,970 
 15,590   *  Healthways, Inc   262,536 
 8,477   *  HeartWare International, Inc   491,157 
 40,076   *  Henry Schein, Inc   7,252,954 
 32,091      Hill-Rom Holdings, Inc   1,714,622 
 40,771   *  HMS Holdings Corp   810,527 
 132,771   *  Hologic, Inc   5,110,356 
 72,998      Humana, Inc   12,595,805 
 8,863   *  ICU Medical, Inc   1,034,844 
 44,572   *  Idexx Laboratories, Inc   4,180,408 
 7,610   *  Imprivata, Inc   145,503 
 65,678   *  IMS Health Holdings, Inc   1,971,654 
 7,968   *  Inogen Inc   428,200 
 28,625   *,e  Inovalon Holdings, Inc   532,997 
 28,020   *  Insulet Corp   991,628 
 14,944   *  Integer Holding Corp   331,906 
 16,794   *  Integra LifeSciences Holdings Corp   1,415,230 
 18,982   *  Intuitive Surgical, Inc   13,206,916 
 13,425      Invacare Corp   154,656 
 11,172   *,e  InVivo Therapeutics Holdings Corp   72,395 
 1,187   *,e  iRadimed Corp   22,980 
 3,680   *,e  IRIDEX Corp   59,653 
 12,177   *  K2M Group Holdings, Inc   204,087 
 40,644      Kindred Healthcare, Inc   498,295 
 51,218   *  Laboratory Corp of America Holdings   7,147,984 
 4,554      Landauer, Inc   189,993 
 4,833      LeMaitre Vascular, Inc   83,128 
 7,358   *  LHC Group, Inc   333,023 
 19,709   *  LifePoint Hospitals, Inc   1,166,379 
 14,401   *  Magellan Health Services, Inc   986,036 
 20,112   *  Masimo Corp   1,065,333 
 109,087      McKesson Corp   21,223,967 
 26,617   *  Medidata Solutions, Inc   1,414,694 
 44,714   *  MEDNAX, Inc   3,081,242 
 688,926      Medtronic plc   60,370,585 
 20,456      Meridian Bioscience, Inc   396,028 
 20,749   *  Merit Medical Systems, Inc   486,357 
 20,913   *  Molina Healthcare, Inc   1,188,068 
 5,475      National Healthcare Corp   353,685 
 3,676      National Research Corp   55,214 
 15,835   *  Natus Medical, Inc   622,791 
 20,247   *  Neogen Corp   1,116,622 
 11,357   *,e  Nevro Corp   939,224 
154

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 25,328   *,e  Nobilis Health Corp  $72,185 
 24,605   *,e  Novocure Ltd   185,030 
 23,959   *  NuVasive, Inc   1,490,250 
 30,681   *  NxStage Medical, Inc   678,357 
 17,112   *  Omnicell, Inc   661,892 
 23,565   *  OraSure Technologies, Inc   160,713 
 7,923   *  Orthofix International NV   375,550 
 33,929      Owens & Minor, Inc   1,211,605 
 8,842   *,e  Oxford Immunotec Global plc   71,090 
 40,956      Patterson Cos, Inc   2,021,588 
 12,343   *  Penumbra, Inc   843,150 
 15,541   *  PharMerica Corp   412,769 
 26,811   *  Premier, Inc   876,720 
 10,798   *  Press Ganey Holdings, Inc   431,056 
 5,733   *  Providence Service Corp   277,305 
 23,815      Quality Systems, Inc   292,448 
 69,260      Quest Diagnostics, Inc   5,981,294 
 11,443   *  Quidel Corp   260,900 
 13,972   *  Quorum Health Corp   152,155 
 14,581   *  RadNet, Inc   87,632 
 63,640      Resmed, Inc   4,383,523 
 21,277   *,e  Rockwell Medical, Inc   171,280 
 22,692   *  RTI Biologics, Inc   73,749 
 5,783   *  Second Sight Medical Products, Inc   23,363 
 51,697   *  Select Medical Holdings Corp   594,515 
 13,889   *,e  Senseonics Holdings, Inc   46,111 
 20,854   *  Spectranetics Corp   483,396 
 136,174      St. Jude Medical, Inc   11,307,889 
 14,817   *,e  Staar Surgical Co   101,348 
 161,400      Stryker Corp   18,767,592 
 7,270   *,e  Surgery Partners, Inc   131,805 
 13,245   *  Surgical Care Affiliates, Inc   688,872 
 5,430   *  SurModics, Inc   148,945 
 7,897   *  Tandem Diabetes Care, Inc   52,357 
 37,057   *  Team Health Holdings, Inc   1,513,408 
 9,982   *,e  Teladoc, Inc   174,086 
 22,591      Teleflex, Inc   4,073,383 
 40,423   *  Tenet Healthcare Corp   1,237,348 
 39,361   *,e  TransEnterix, Inc   53,137 
 10,733   *  Triple-S Management Corp (Class B)   266,715 
 461,444      UnitedHealth Group, Inc   66,078,781 
 28,250      Universal American Corp   216,395 
 41,824      Universal Health Services, Inc (Class B)   5,417,463 
 5,830      US Physical Therapy, Inc   347,585 
 1,453      Utah Medical Products, Inc   94,547 
 50,173   *  Varian Medical Systems, Inc   4,753,390 
 8,154   *  Vascular Solutions, Inc   374,024 
 38,049   *  VCA Antech, Inc   2,714,416 
 46,934   *  Veeva Systems, Inc   1,783,023 
 10,460   *  Vocera Communications, Inc   154,703 
 21,676   *  WellCare Health Plans, Inc   2,314,997 
 35,051      West Pharmaceutical Services, Inc   2,813,894 
 55,220   *  Wright Medical Group NV   1,210,975 
155

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
           
 17,038   *,e  Zeltiq Aesthetics, Inc  $578,440 
 86,842      Zimmer Holdings, Inc   11,388,460 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   598,677,294 
               
HOUSEHOLD & PERSONAL PRODUCTS - 1.8%        
 206,598      Avon Products, Inc   840,854 
 3,706   *  Central Garden & Pet Co   89,907 
 23,182   *  Central Garden and Pet Co (Class A)   528,318 
 61,738      Church & Dwight Co, Inc   6,065,141 
 61,910      Clorox Co   8,114,544 
 425,457      Colgate-Palmolive Co   31,666,764 
 21,957   e  Coty, Inc   589,985 
 28,503      Edgewell Personal Care Co   2,411,639 
 10,401   *  Elizabeth Arden, Inc   144,574 
 28,336      Energizer Holdings, Inc   1,460,154 
 105,544      Estee Lauder Cos (Class A)   9,805,038 
 36,554   *,e  Herbalife Ltd   2,486,037 
 52,500   *  HRG Group, Inc   781,725 
 7,838      Inter Parfums, Inc   255,048 
 176,099      Kimberly-Clark Corp   22,813,625 
 6,950   *  Lifevantage Corp   97,230 
 5,231      Medifast, Inc   184,236 
 3,678   e  Natural Health Trends Corp   123,544 
 3,786      Nature’s Sunshine Products, Inc   44,675 
 25,742      Nu Skin Enterprises, Inc (Class A)   1,374,623 
 3,287   *  Nutraceutical International Corp   84,279 
 2,506      Oil-Dri Corp of America   93,850 
 4,306   e  Orchids Paper Products Co   132,237 
 1,316,698      Procter & Gamble Co   112,696,182 
 5,661   *  Revlon, Inc (Class A)   200,909 
 12,926   e  Spectrum Brands, Inc   1,664,481 
 2,534   *  USANA Health Sciences, Inc   347,969 
 6,944      WD-40 Co   798,421 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   205,895,989 
               
INSURANCE - 3.9%        
 200,353      Aflac, Inc   14,481,515 
 7,540   *  Alleghany Corp   4,097,990 
 42,829      Allied World Assurance Co Holdings Ltd   1,755,561 
 183,146      Allstate Corp   12,514,366 
 23,053   *  AMBAC Financial Group, Inc   419,104 
 39,077      American Equity Investment Life Holding Co   622,497 
 33,354      American Financial Group, Inc   2,438,177 
 543,789      American International Group, Inc   29,603,873 
 3,548      American National Insurance Co   405,714 
 9,124      Amerisafe, Inc   534,028 
 43,231      Amtrust Financial Services, Inc   1,031,924 
 128,807      Aon plc   13,791,365 
 56,029   *  Arch Capital Group Ltd   4,069,386 
 13,975      Argo Group International Holdings Ltd   725,163 
 85,118      Arthur J. Gallagher & Co   4,186,954 
 29,450      Aspen Insurance Holdings Ltd   1,353,522 
 30,221      Assurant, Inc   2,508,645 
156

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 65,960      Assured Guaranty Ltd  $1,767,068 
 4,444   *  Atlas Financial Holdings, Inc   76,481 
 45,995      Axis Capital Holdings Ltd   2,556,402 
 3,677      Baldwin & Lyons, Inc (Class B)   97,404 
 925,380   *  Berkshire Hathaway, Inc (Class B)   133,504,573 
 3,128      Blue Capital Reinsurance Holdings Ltd   55,835 
 56,977      Brown & Brown, Inc   2,088,777 
 225,708      Chubb Ltd   28,272,184 
 72,745      Cincinnati Financial Corp   5,434,051 
 23,451   *,e  Citizens, Inc (Class A)   195,816 
 15,393      CNA Financial Corp   489,959 
 84,431      Conseco, Inc   1,466,566 
 5,375      Crawford & Co (Class B)   59,017 
 3,405      Donegal Group, Inc (Class A)   55,059 
 8,929   *  eHealth, Inc   85,272 
 2,877      EMC Insurance Group, Inc   79,779 
 15,444      Employers Holdings, Inc   440,463 
 31,320      Endurance Specialty Holdings Ltd   2,118,172 
 5,538   *  Enstar Group Ltd   922,575 
 12,036      Erie Indemnity Co (Class A)   1,175,797 
 20,486      Everest Re Group Ltd   3,872,059 
 10,756      FBL Financial Group, Inc (Class A)   670,852 
 5,754      Federated National Holding Co   120,546 
 5,606   e  Fidelity & Guaranty Life   122,547 
 43,516      First American Financial Corp   1,819,404 
 120,490      FNF Group   4,538,858 
 277,651   *  Genworth Financial, Inc (Class A)   794,082 
 14,101   *  Greenlight Capital Re Ltd (Class A)   290,904 
 5,627   *  Hallmark Financial Services   59,702 
 20,699      Hanover Insurance Group, Inc   1,704,356 
 187,094      Hartford Financial Services Group, Inc   7,455,696 
 3,640   e  HCI Group, Inc   109,782 
 12,674      Heritage Insurance Holdings, Inc   157,031 
 19,686      Horace Mann Educators Corp   672,867 
 3,159      Independence Holding Co   54,998 
 5,178      Infinity Property & Casualty Corp   424,803 
 737      Investors Title Co   74,068 
 6,321      James River Group Holdings Ltd   212,765 
 19,560      Kemper Corp   670,321 
 114,672      Lincoln National Corp   5,007,726 
 137,152      Loews Corp   5,668,492 
 28,819      Maiden Holdings Ltd   402,601 
 6,850   *  Markel Corp   6,498,938 
 254,189      Marsh & McLennan Cos, Inc   16,712,927 
 63,072   *  MBIA, Inc   532,328 
 15,410      Mercury General Corp   853,252 
 452,609      Metlife, Inc   19,344,509 
 23,494      National General Holdings Corp   484,681 
 3,801      National Interstate Corp   123,266 
 1,147      National Western Life Group, Inc   216,944 
 7,450      Navigators Group, Inc   697,842 
 117,277      Old Republic International Corp   2,272,828 
 9,711      OneBeacon Insurance Group Ltd (Class A)   136,051 
157

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 3,585   *,e  Patriot National, Inc  $28,286 
 27,727   e  Primerica, Inc   1,428,218 
 128,589      Principal Financial Group   5,996,105 
 28,150      ProAssurance Corp   1,454,229 
 287,835      Progressive Corp   9,357,516 
 208,695      Prudential Financial, Inc   15,712,647 
 31,253      Reinsurance Group of America, Inc (Class A)   3,101,860 
 20,478      RenaissanceRe Holdings Ltd   2,406,575 
 20,429      RLI Corp   1,392,645 
 6,977      Safety Insurance Group, Inc   444,435 
 28,054      Selective Insurance Group, Inc   1,098,595 
 6,046      State Auto Financial Corp   136,519 
 11,853      State National Cos, Inc   129,435 
 11,100      Stewart Information Services Corp   475,191 
 34,592   *  Third Point Reinsurance Ltd   435,513 
 58,072      Torchmark Corp   3,592,915 
 144,966      Travelers Cos, Inc   16,847,949 
 13,469   *,e  Trupanion, Inc   203,113 
 3,342   *  United America Indemnity Ltd   100,360 
 10,606      United Fire & Casualty Co   445,452 
 6,793      United Insurance Holdings Corp   107,737 
 15,924   e  Universal Insurance Holdings, Inc   346,188 
 104,808      UnumProvident Corp   3,501,635 
 36,138      Validus Holdings Ltd   1,786,301 
 46,818      W.R. Berkley Corp   2,724,339 
 2,553      White Mountains Insurance Group Ltd   2,096,830 
 137,353      XL Group Ltd   4,753,787 
        TOTAL INSURANCE   438,363,435 
               
MATERIALS - 3.3%      
 13,815      A. Schulman, Inc   404,918 
 1,694      AEP Industries, Inc   136,299 
 10,787   *,e  AgroFresh Solutions, Inc   69,576 
 95,875      Air Products & Chemicals, Inc   14,325,642 
 114,622   *,e  AK Steel Holding Corp   751,920 
 54,044      Albemarle Corp   4,548,883 
 644,860      Alcoa, Inc   6,848,413 
 52,901   e  Allegheny Technologies, Inc   942,167 
 11,715      American Vanguard Corp   174,319 
 4,313      Ampco-Pittsburgh Corp   56,975 
 30,367      Aptargroup, Inc   2,374,092 
 30,353      Ashland, Inc   3,437,174 
 42,007      Avery Dennison Corp   3,271,925 
 78,971   *  Axalta Coating Systems Ltd   2,254,622 
 34,524      Axiall Corp   1,127,209 
 15,361      Balchem Corp   981,107 
 83,814      Ball Corp   5,923,135 
 44,396      Bemis Co, Inc   2,265,972 
 59,088   *  Berry Plastics Group, Inc   2,422,608 
 19,062   *  Boise Cascade Co   517,915 
 29,975      Cabot Corp   1,459,483 
 24,508      Calgon Carbon Corp   338,210 
 22,398      Carpenter Technology Corp   879,121 
158

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 69,841      Celanese Corp (Series A)  $4,429,316 
 28,403   *,e  Century Aluminum Co   215,579 
 114,251      CF Industries Holdings, Inc   2,819,715 
 4,817      Chase Corp   291,862 
 95,430      Chemours Co   887,499 
 31,102   *  Chemtura   873,655 
 8,163   *  Clearwater Paper Corp   513,534 
 102,121   *,e  Cliffs Natural Resources, Inc   807,777 
 15,502   *  Codexis, Inc   67,434 
 86,727   *,e  Coeur Mining, Inc   1,328,658 
 53,034      Commercial Metals Co   877,182 
 16,376   e  Compass Minerals International, Inc   1,139,606 
 64,913   *  Crown Holdings, Inc   3,438,442 
 4,672      Deltic Timber Corp   321,994 
 28,645      Domtar Corp   1,127,754 
 560,148      Dow Chemical Co   30,063,143 
 22,857      Eagle Materials, Inc   1,918,845 
 71,899      Eastman Chemical Co   4,689,972 
 127,665      Ecolab, Inc   15,112,983 
 428,574      EI du Pont de Nemours & Co   29,644,464 
 38,483   *  Ferro Corp   498,740 
 48,283      Ferroglobe plc   449,998 
 24,560   *,e  Flotek Industries, Inc   348,752 
 63,324      FMC Corp   3,010,423 
 621,644      Freeport-McMoRan Copper & Gold, Inc (Class B)   8,056,506 
 9,761      FutureFuel Corp   111,861 
 33,638   *  GCP Applied Technologies, Inc   926,054 
 25,837   *,e  Gold Resource Corp   145,204 
 150,013      Graphic Packaging Holding Co   2,046,177 
 2,266   e  Greif, Inc   120,030 
 13,180      Greif, Inc (Class A)   528,913 
 24,317      H.B. Fuller Co   1,132,200 
 1,004   *  Handy & Harman Ltd   27,981 
 4,200      Hawkins, Inc   179,508 
 5,132      Haynes International, Inc   194,913 
 35,395   *  Headwaters, Inc   704,007 
 186,110      Hecla Mining Co   1,207,854 
 96,789      Huntsman Corp   1,496,358 
 20,823   *  Ingevity Corp   796,896 
 10,340      Innophos Holdings, Inc   445,240 
 11,495      Innospec, Inc   577,854 
 37,635      International Flavors & Fragrances, Inc   5,014,864 
 200,806      International Paper Co   9,198,923 
 7,002      Kaiser Aluminum Corp   580,116 
 42,573      Kapstone Paper and Packaging Corp   607,942 
 3,950      KMG Chemicals, Inc   108,585 
 9,009   *  Koppers Holdings, Inc   284,865 
 13,579   *  Kraton Polymers LLC   406,148 
 8,381   e  Kronos Worldwide, Inc   47,353 
 68,731   *  Louisiana-Pacific Corp   1,388,366 
 16,521   *,e  LSB Industries, Inc   191,313 
 174,021      LyondellBasell Industries AF S.C.A   13,096,820 
 31,604      Martin Marietta Materials, Inc   6,404,551 
159

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 12,771      Materion Corp  $337,282 
 15,511      Minerals Technologies, Inc   1,012,248 
 213,789      Monsanto Co   22,826,252 
 171,350      Mosaic Co   4,626,450 
 8,563   *  Multi Packaging Solutions International Ltd   124,335 
 10,894      Myers Industries, Inc   162,865 
 7,378      Neenah Paper, Inc   556,523 
 3,613      NewMarket Corp   1,546,147 
 258,507      Newmont Mining Corp   11,374,308 
 153,938      Nucor Corp   8,257,234 
 80,317      Olin Corp   1,678,625 
 5,609      Olympic Steel, Inc   160,754 
 23,656   *  Omnova Solutions, Inc   224,022 
 77,270   *  Owens-Illinois, Inc   1,451,903 
 45,738      Packaging Corp of America   3,416,171 
 20,128      PH Glatfelter Co   415,844 
 80,178   *,e  Platform Specialty Products Corp   737,638 
 37,351      PolyOne Corp   1,309,900 
 129,560      PPG Industries, Inc   13,566,228 
 139,864      Praxair, Inc   16,299,751 
 9,880      Quaker Chemical Corp   945,121 
 25,274      Rayonier Advanced Materials, Inc   348,023 
 10,053   *  Real Industry, Inc   78,816 
 33,032      Reliance Steel & Aluminum Co   2,591,030 
 31,749      Royal Gold, Inc   2,684,060 
 60,725      RPM International, Inc   3,294,938 
 6,509   *,e  Ryerson Holding Corp   93,990 
 13,851      Schnitzer Steel Industries, Inc (Class A)   269,956 
 14,709      Schweitzer-Mauduit International, Inc   556,147 
 22,033      Scotts Miracle-Gro Co (Class A)   1,624,934 
 94,347      Sealed Air Corp   4,451,291 
 21,592      Sensient Technologies Corp   1,594,137 
 39,146      Sherwin-Williams Co   11,733,231 
 19,159      Silgan Holdings, Inc   949,903 
 46,072      Sonoco Products Co   2,346,447 
 48,093   e  Southern Copper Corp (NY)   1,249,937 
 113,653      Steel Dynamics, Inc   3,048,173 
 10,492      Stepan Co   674,741 
 59,460   *  Stillwater Mining Co   909,738 
 30,802   *  Summit Materials, Inc   681,956 
 27,754      SunCoke Energy, Inc   211,763 
 147,362      Tahoe Resources, Inc   2,292,953 
 22,283      TimkenSteel Corp   223,276 
 8,634   *  Trecora Resources   98,687 
 10,895      Tredegar Corp   192,841 
 18,488      Trinseo S.A.   920,517 
 45,238      Tronox Ltd   293,595 
 3,086   *  UFP Technologies, Inc   70,639 
 790      United States Lime & Minerals, Inc   49,770 
 65,627   e  United States Steel Corp   1,804,086 
 8,462   *,e  US Concrete, Inc   545,799 
 37,223      Valspar Corp   3,963,133 
 63,148      Vulcan Materials Co   7,829,089 
160

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 17,472      Westlake Chemical Corp  $799,169 
 136,033      WestRock Co   5,837,176 
 20,425   *  Worthington Industries, Inc   905,032 
 34,484      WR Grace & Co   2,581,817 
        TOTAL MATERIALS   375,246,805 
               
MEDIA - 2.9%        
 10,427      AMC Entertainment Holdings, Inc   306,762 
 29,130   *  AMC Networks, Inc   1,612,637 
 2,284      Cable One, Inc   1,196,542 
 11,567   *  Carmike Cinemas, Inc   356,495 
 197,632      CBS Corp (Class B)   10,320,343 
 31,564   *,e  Central European Media Enterprises Ltd (Class A) (NASDAQ)   72,913 
 98,474   *  Charter Communications, Inc   23,128,588 
 48,764      Cinemark Holdings, Inc   1,833,526 
 16,417      Clear Channel Outdoor Holdings, Inc (Class A)   114,755 
 1,188,811      Comcast Corp (Class A)   79,947,540 
 444   *,e  Daily Journal Corp   101,410 
 73,258   *  Discovery Communications, Inc (Class A)   1,838,043 
 123,084   *  Discovery Communications, Inc (Class C)   3,020,481 
 103,299   *  DISH Network Corp (Class A)   5,518,233 
 36,521   *  DreamWorks Animation SKG, Inc (Class A)   1,496,265 
 12,577      Entercom Communications Corp (Class A)   183,750 
 44,878      Entravision Communications Corp (Class A)   325,814 
 12,862   *,e  Eros International plc   223,927 
 28,996      EW Scripps Co (Class A)   491,772 
 52,627      Gannett Co, Inc   671,520 
 19,954   *,e  Global Eagle Entertainment, Inc   163,623 
 31,424   *  Gray Television, Inc   311,098 
 4,651   *  Hemisphere Media Group, Inc   59,021 
 28,760   *  Imax Corp   908,528 
 196,442      Interpublic Group of Cos, Inc   4,529,953 
 20,543      John Wiley & Sons, Inc (Class A)   1,185,331 
 6,400   *,e  Liberty Braves Group (Class A)   105,536 
 17,411   *,e  Liberty Braves Group (Class C)   278,228 
 12,406   *  Liberty Broadband Corp (Class A)   779,221 
 50,549   *  Liberty Broadband Corp (Class C)   3,200,257 
 15,188   *  Liberty Media Group (Class A)   344,768 
 22,228   *  Liberty Media Group (Class C)   498,352 
 50,941   *  Liberty SiriusXM Group (Class A)   1,821,141 
 97,255   *  Liberty SiriusXM Group (Class C)   3,428,239 
 45,486   e  Lions Gate Entertainment Corp   909,265 
 63,868   *  Live Nation, Inc   1,751,261 
 6,029   *  Loral Space & Communications, Inc   211,799 
 9,468   *  Madison Square Garden Co   1,730,656 
 24,894   e  MDC Partners, Inc   317,647 
 52,743   *  Media General, Inc   927,749 
 14,647      Meredith Corp   797,969 
 30,657   *  MSG Networks, Inc   492,045 
 30,224      National CineMedia, Inc   470,890 
 27,474      New Media Investment Group, Inc   485,191 
 59,194      New York Times Co (Class A)   768,338 
 176,857      News Corp   2,293,835 
161

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 59,669      News Corp (Class B)  $801,951 
 14,374   e  Nexstar Broadcasting Group, Inc (Class A)   726,606 
 119,498      Omnicom Group, Inc   9,833,490 
 4,994   *,e  Radio One, Inc   15,981 
 7,081   *  Reading International, Inc   97,364 
 39,382   e  Regal Entertainment Group (Class A)   926,265 
 1,443      Saga Communications, Inc   59,192 
 12,520      Scholastic Corp   514,572 
 39,425      Scripps Networks Interactive (Class A)   2,604,415 
 32,109      Sinclair Broadcast Group, Inc (Class A)   893,272 
 901,211   *,e  Sirius XM Holdings, Inc   3,956,316 
 41,255   *  Starz-Liberty Capital   1,247,139 
 106,218      TEGNA, Inc   2,326,174 
 147,883      Thomson Corp   6,227,353 
 385,530      Time Warner, Inc   29,550,874 
 49,629      Time, Inc   810,442 
 3,579   *  Townsquare Media, Inc   29,276 
 33,656      Tribune Co   1,246,955 
 12,142   *  tronc, Inc   182,009 
 532,391      Twenty-First Century Fox, Inc   14,182,896 
 239,273      Twenty-First Century Fox, Inc (Class B)   6,467,549 
 7,627      Viacom, Inc   378,604 
 168,729      Viacom, Inc (Class B)   7,672,108 
 795,762      Walt Disney Co   76,353,364 
 17,813      World Wrestling Entertainment, Inc (Class A)   351,807 
        TOTAL MEDIA   328,987,231 
               
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 9.0%        
 797,283      AbbVie, Inc   52,804,053 
 44,127   *,e  Acadia Pharmaceuticals, Inc   1,634,464 
 11,534   *,e  Accelerate Diagnostics, Inc   226,643 
 13,351   *  Acceleron Pharma, Inc   452,866 
 18,680   *,e  AcelRx Pharmaceuticals, Inc   67,808 
 57,304   *  Achillion Pharmaceuticals, Inc   474,477 
 4,210   *,e  Aclaris Therapeutics, Inc   82,937 
 20,949   *  Acorda Therapeutics, Inc   529,591 
 8,387   *,e  Adamas Pharmaceuticals, Inc   126,644 
 17,546   *,e  Aduro Biotech, Inc   257,575 
 21,624   *,e  Advaxis, Inc   180,344 
 12,037   *  Adverum Biotechnologies, Inc   43,574 
 11,588   *,e  Aerie Pharmaceuticals, Inc   201,052 
 32,182   *,e  Agenus, Inc   178,610 
 4,678   *  Agile Therapeutics, Inc   32,746 
 151,984      Agilent Technologies, Inc   7,311,950 
 13,819   *,e  Agios Pharmaceuticals, Inc   625,033 
 12,929   *,e  Aimmune Therapeutics, Inc   155,019 
 22,014   *  Akebia Therapeutics, Inc   197,025 
 40,640   *  Akorn, Inc   1,391,107 
 12,928   *,e  Albany Molecular Research, Inc   186,680 
 22,587   *,e  Alder Biopharmaceuticals, Inc   725,043 
 106,325   *  Alexion Pharmaceuticals, Inc   13,673,395 
 77,776   *  Alkermes plc   3,881,022 
 194,983   *  Allergan plc   49,320,950 
162

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 36,523   *,e  Alnylam Pharmaceuticals, Inc  $2,486,486 
 16,789   *  AMAG Pharmaceuticals, Inc   445,412 
 370,121      Amgen, Inc   63,671,916 
 61,430   *  Amicus Therapeutics, Inc   412,810 
 16,975   *  Amphastar Pharmaceuticals, Inc   274,655 
 22,539   *  Ampio Pharmaceuticals, Inc   22,314 
 15,209   *,e  Anavex Life Sciences Corp   58,403 
 3,304   *,e  ANI Pharmaceuticals, Inc   200,222 
 21,009   *,e  Anthera Pharmaceuticals, Inc   64,708 
 5,978   *  Applied Genetic Technologies Corp   89,849 
 12,806   *,e  Aratana Therapeutics, Inc   97,198 
 7,258   *  Ardelyx, Inc   77,515 
 101,870   *,e  Arena Pharmaceuticals, Inc   170,123 
 86,016   *,e  Ariad Pharmaceuticals, Inc   818,012 
 70,415   *,e  Array Biopharma, Inc   263,352 
 26,110   *,e  Arrowhead Research Corp   155,616 
 4,375   *,e  Asterias Biotherapeutics, Inc   13,081 
 11,438   *,e  Atara Biotherapeutics, Inc   274,512 
 34,748   *,e  Athersys, Inc   77,141 
 2,238   *,e  Avexis, Inc   84,216 
 12,006   *  Axovant Sciences Ltd   177,689 
 4,815   *,e  Axsome Therapeutics, Inc   37,653 
 10,302   *,e  Bellicum Pharmaceuticals, Inc   163,596 
 30,549   *  BioCryst Pharmaceuticals, Inc   110,587 
 108,221   *  Biogen Idec, Inc   31,376,515 
 79,341   *  BioMarin Pharmaceutical, Inc   7,888,082 
 39,348   *,e  Bio-Path Holdings, Inc   66,892 
 11,446   *  Bio-Rad Laboratories, Inc (Class A)   1,660,700 
 1,907   *  Biospecifics Technologies Corp   77,234 
 19,171      Bio-Techne Corp   2,155,204 
 21,816   *  BioTime, Inc   68,066 
 17,515   *,e  Bluebird Bio, Inc   1,001,508 
 9,768   *,e  Blueprint Medicines Corp   215,970 
 818,806      Bristol-Myers Squibb Co   61,254,877 
 54,276      Bruker BioSciences Corp   1,352,558 
 15,433   *  Cambrex Corp   808,844 
 9,334   *,e  Cara Therapeutics Inc   55,351 
 48,477   *  Catalent, Inc   1,238,103 
 380,000   *  Celgene Corp   42,632,200 
 54,616   *,e  Celldex Therapeutics, Inc   252,326 
 4,292   *,e  Cellular Biomedicine Group, Inc   63,908 
 18,786   *,e  Cempra, Inc   337,584 
 35,424   *  Cepheid, Inc   1,251,530 
 22,808   *  Charles River Laboratories International, Inc   2,005,507 
 11,750   *,e  ChemoCentryx, Inc   55,225 
 19,935   *  Chimerix, Inc   79,541 
 13,925   *,e  ChromaDex Corp   55,700 
 2,186   *  Cidara Therapeutics, Inc   25,992 
 15,457   *,e  Clovis Oncology, Inc   220,726 
 14,351   *,e  Coherus Biosciences, Inc   364,372 
 6,498   *,e  Collegium Pharmaceutical, Inc   78,821 
 6,440   *  Concert Pharmaceuticals Inc   73,996 
 35,675   *,e  Corcept Therapeutics, Inc   206,915 
163

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 47,198   *  Curis, Inc  $79,293 
 14,477   *,e  Cytokinetics, Inc   160,984 
 10,021   *,e  CytomX Therapeutics, Inc   100,811 
 28,094   *,e  CytRx Corp   18,261 
 29,384   *,e  Depomed, Inc   557,414 
 10,045   *  Dermira, Inc   337,110 
 5,621   *,e  Dimension Therapeutics, Inc   40,022 
 47,996   *  Durect Corp   93,112 
 18,760   *,e  Dynavax Technologies Corp   289,467 
 5,157   *,e  Eagle Pharmaceuticals, Inc   222,473 
 8,036   *,e  Edge Therapeutics, Inc   77,949 
 3,266   *,e  Editas Medicine, Inc   84,002 
 11,529   *,e  Egalet Corp   85,199 
 1,596   *,e  Eiger BioPharmaceuticals, Inc   31,042 
 478,075      Eli Lilly & Co   39,627,637 
 15,816   *  Emergent Biosolutions, Inc   528,096 
 6,742   *,e  Enanta Pharmaceuticals, Inc   151,628 
 101,040   *  Endo International plc   1,754,054 
 16,078   *,e  Endocyte, Inc   51,128 
 18,877   *  Enzo Biochem, Inc   131,573 
 22,129   *  Epizyme, Inc   229,256 
 5,562   *,e  Esperion Thereapeutics, Inc   60,403 
 47,225   *,e  Exact Sciences Corp   820,771 
 113,584   *,e  Exelixis, Inc   1,042,701 
 25,301   *  FibroGen, Inc   484,008 
 12,554   *  Five Prime Therapeutics, Inc   636,362 
 2,340   *,e  Flex Pharma, Inc   27,729 
 9,344   *,e  Flexion Therapeutics Inc   154,737 
 12,333   *,e  Fluidigm Corp   130,113 
 16,433   *,e  Fortress Biotech, Inc   49,792 
 5,638   *,e  Foundation Medicine, Inc   131,760 
 77,129   *,e  Galena Biopharma, Inc   34,292 
 9,048   *  Genomic Health, Inc   262,663 
 94,140   *,e  Geron Corp   252,295 
 652,535      Gilead Sciences, Inc   51,856,956 
 6,626   *,e  Global Blood Therapeutics, Inc   118,473 
 52,365   *,e  Halozyme Therapeutics, Inc   520,508 
 20,561   *,e  Heron Therapeutics, Inc   341,724 
 2,379   *  Heska Corp   101,226 
 78,143   *  Horizon Pharma plc   1,507,378 
 35,999   *,e  Idera Pharmaceuticals, Inc   61,918 
 19,695   *  Ignyta, Inc   108,519 
 71,099   *  Illumina, Inc   11,827,319 
 4,828   *,e  Immune Design Corp   37,031 
 37,297   *,e  Immunogen, Inc   103,686 
 52,141   *,e  Immunomedics, Inc   138,174 
 35,602   *  Impax Laboratories, Inc   1,118,615 
 20,194   *  INC Research Holdings, Inc   898,835 
 79,588   *  Incyte Corp   7,179,633 
 20,634   *,e  Infinity Pharmaceuticals, Inc   34,665 
 39,312   e  Innoviva, Inc   505,945 
 9,048   *  Inotek Pharmaceuticals Corp   85,775 
 30,381   *,e  Inovio Pharmaceuticals, Inc   300,164 
164

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 29,754   *  Insmed, Inc  $340,683 
 9,791   *,e  Insys Therapeutics, Inc   153,229 
 3,255   *,e  Intellia Therapeutics, Inc   61,585 
 8,362   *,e  Intercept Pharmaceuticals, Inc   1,446,877 
 12,277   *  Intersect ENT, Inc   194,468 
 16,694   *,e  Intra-Cellular Therapies, Inc   681,115 
 27,260   *,e  Intrexon Corp   690,496 
 10,486   *,e  Invitae Corp   91,962 
 58,851   *,e  Ionis Pharmaceuticals, Inc   1,717,861 
 62,575   *  Ironwood Pharmaceuticals, Inc   884,185 
 1,351,329      Johnson & Johnson   169,226,931 
 30,664   *,e  Juno Therapeutics, Inc   948,438 
 9,896   *  Karyopharm Therapeutics, Inc   73,032 
 45,406   *,e  Keryx Biopharmaceuticals, Inc   334,188 
 18,955   *,e  Kite Pharma, Inc   1,073,422 
 8,243   *,e  La Jolla Pharmaceutical Co   140,131 
 13,584   *,e  Lannett Co, Inc   424,092 
 20,804   *,e  Lexicon Pharmaceuticals, Inc   339,521 
 9,568   *,e  Ligand Pharmaceuticals, Inc (Class B)   1,290,532 
 19,238   *  Lion Biotechnologies, Inc   170,064 
 7,703   *,e  Lipocine, Inc   28,424 
 6,426   *  Loxo Oncology, Inc   165,277 
 19,030   *  Luminex Corp   407,813 
 14,847   *  MacroGenics, Inc   454,170 
 54,008   *  Mallinckrodt plc   3,636,899 
 160,333   *,e  MannKind Corp   158,730 
 7,447   *  Medgenics, Inc   42,969 
 35,777   *,e  Medicines Co   1,399,238 
 14,511   *,e  MediciNova, Inc   89,968 
 78,231   *  Medivation, Inc   5,006,002 
 1,360,847      Merck & Co, Inc   79,827,285 
 59,663   *,e  Merrimack Pharmaceuticals, Inc   346,045 
 13,506   *  Mettler-Toledo International, Inc   5,553,802 
 47,130   *,e  MiMedx Group, Inc   353,004 
 8,077   *,e  Minerva Neurosciences, Inc   89,655 
 4,258   *  Mirati Therapeutics, Inc   19,757 
 31,181   *  Momenta Pharmaceuticals, Inc   351,098 
 213,679   *  Mylan NV   9,998,040 
 5,669   *,e  MyoKardia, Inc   100,171 
 35,176   *,e  Myriad Genetics, Inc   1,089,752 
 5,740   *  NanoString Technologies, Inc   78,007 
 8,338   *,e  NantKwest, Inc   56,949 
 13,099   *,e  Natera, Inc   171,597 
 62,988   *  Nektar Therapeutics   1,089,063 
 33,050   *  NeoGenomics, Inc   288,196 
 6,653   *  Neos Therapeutics, Inc   58,746 
 43,595   *  Neurocrine Biosciences, Inc   2,189,777 
 8,803   *  NewLink Genetics Corp   93,136 
 132,353   *,e  Novavax, Inc   968,824 
 5,561   *,e  Ocular Therapeutix, Inc   24,302 
 15,786   *,e  Omeros Corp   185,643 
 7,049   *,e  OncoMed Pharmaceuticals, Inc   85,504 
 14,755   *  Ophthotech Corp   947,861 
165

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 148,620   *,e  Opko Health, Inc  $1,478,769 
 49,140   *,e  Organovo Holdings, Inc   210,319 
 7,783   e  Osiris Therapeutics, Inc   38,915 
 12,099   *,e  Otonomy, Inc   173,742 
 9,996   *,e  OvaScience, Inc   50,380 
 40,299   *,e  Pacific Biosciences of California, Inc   344,556 
 17,819   *,e  Pacira Pharmaceuticals, Inc   645,939 
 5,045      Paratek Pharmaceuticals, Inc   64,929 
 25,460   *  Parexel International Corp   1,702,001 
 72,802      PDL BioPharma, Inc   256,263 
 48,893      PerkinElmer, Inc   2,782,990 
 68,191      Perrigo Co plc   6,231,975 
 6,895   *  Pfenex, Inc   55,643 
 2,961,730      Pfizer, Inc   109,258,220 
 28,593   *  PharmAthene, Inc   73,198 
 7,545      Phibro Animal Health Corp   155,653 
 22,596   *  Portola Pharmaceuticals, Inc   586,592 
 12,394   *  PRA Health Sciences, Inc   574,834 
 25,905   *  Prestige Brands Holdings, Inc   1,385,918 
 30,473   *,e  Progenics Pharmaceuticals, Inc   178,267 
 3,334   *  Proteostasis Therapeutics, Inc   37,007 
 16,124   *,e  Prothena Corp plc   887,626 
 14,333   *,e  PTC Therapeutics, Inc   85,568 
 12,051   *,e  Puma Biotechnology, Inc   601,224 
 111,784   *  Qiagen NV (NASDAQ)   2,995,811 
 41,569   *  Quintiles Transnational Holdings, Inc   3,227,417 
 15,192   *,e  Radius Health, Inc   715,847 
 42,131   *  Raptor Pharmaceutical Corp   248,152 
 2,682   *,e  Reata Pharmaceuticals, Inc   42,992 
 37,640   *  Regeneron Pharmaceuticals, Inc   16,001,517 
 10,255   *  REGENXBIO, Inc   83,783 
 19,674   *,e  Regulus Therapeutics, Inc   70,236 
 18,735   *  Relypsa, Inc   598,396 
 13,740   *  Repligen Corp   392,964 
 19,915   *,e  Retrophin, Inc   357,076 
 9,301   *,e  Revance Therapeutics, Inc   125,470 
 37,550   *  Rigel Pharmaceuticals, Inc   85,990 
 12,985   *,e  Sage Therapeutics, Inc   582,507 
 12,341   *  Sagent Pharmaceuticals   267,676 
 29,213   *,e  Sangamo Biosciences, Inc   184,918 
 20,796   *,e  Sarepta Therapeutics, Inc   525,723 
 22,166   *  Sciclone Pharmaceuticals, Inc   234,073 
 46,464   *,e  Seattle Genetics, Inc   2,233,060 
 8,789   *,e  Seres Therapeutics, Inc   96,152 
 12,170   *,e  Sorrento Therapeutics, Inc   76,549 
 8,141   *,e  Spark Therapeutics, Inc   471,690 
 27,773   *  Spectrum Pharmaceuticals, Inc   190,801 
 6,776   *  Stemline Therapeutics, Inc   50,142 
 10,521   *  Sucampo Pharmaceuticals, Inc (Class A)   123,622 
 22,801   *  Supernus Pharmaceuticals, Inc   506,638 
 88,402   *,e  Synergy Pharmaceuticals, Inc   360,680 
 36,143   *,e  Synthetic Biologics, Inc   63,250 
 3,929   *,e  T2 Biosystems, Inc   22,238 
166

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 17,729   *,e  Teligent, Inc  $143,959 
 11,786   *,e  TESARO, Inc   1,098,927 
 15,324   *  Tetraphase Pharmaceuticals, Inc   61,602 
 15,204   *,e  TG Therapeutics, Inc   89,856 
 71,280   *,e  TherapeuticsMD, Inc   553,846 
 17,600   *  Theravance Biopharma, Inc   448,976 
 192,326      Thermo Electron Corp   30,549,062 
 9,087   *,e  Titan Pharmaceuticals, Inc   45,072 
 4,598   *,e  Tobira Therapeutics, Inc   19,817 
 4,104   *,e  Tokai Pharmaceuticals, Inc   5,171 
 23,387   *  Trevena, Inc   146,636 
 17,370   *,e  Trovagene, Inc   97,793 
 18,015   *,e  Ultragenyx Pharmaceutical, Inc   1,139,989 
 22,473   *  United Therapeutics Corp   2,719,458 
 17,036   *  Vanda Pharmaceuticals, Inc   194,210 
 13,261   *  Versartis, Inc   152,502 
 120,575   *  Vertex Pharmaceuticals, Inc   11,695,775 
 12,420   *  Vitae Pharmaceuticals, Inc   132,273 
 16,833   *  Vital Therapies, Inc   104,701 
 5,712   *  Voyager Therapeutics, Inc   84,195 
 38,015   *  VWR Corp   1,190,630 
 39,260   *  Waters Corp   6,239,592 
 3,701   *  WaVe Life Sciences Pte Ltd   71,466 
 6,539   *,e  XBiotech, Inc   93,312 
 15,653   *  Xencor Inc   296,468 
 6,984   *,e  Zafgen, Inc   21,231 
 59,769   *,e  ZIOPHARM Oncology, Inc   290,477 
 226,426      Zoetis Inc   11,427,720 
 10,650   *  Zogenix, Inc   97,235 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   1,011,162,967 
               
REAL ESTATE - 4.7%     
 27,624      Acadia Realty Trust   1,040,320 
 23,760      AG Mortgage Investment Trust   355,925 
 11,379      Agree Realty Corp   577,143 
 22,757      Alexander & Baldwin, Inc   896,626 
 1,877      Alexander’s, Inc   805,740 
 35,697      Alexandria Real Estate Equities, Inc   4,008,773 
 5,825   *,e  Altisource Portfolio Solutions S.A.   135,489 
 25,816      Altisource Residential Corp   247,834 
 31,307      American Assets Trust,Inc   1,436,365 
 63,779      American Campus Communities, Inc   3,448,531 
 161,567      American Capital Agency Corp   3,165,098 
 26,768      American Capital Mortgage, Inc   437,924 
 94,784      American Homes 4 Rent   2,056,813 
 208,128      American Tower Corp   24,094,979 
 503,449      Annaly Capital Management, Inc   5,527,870 
 50,785      Anworth Mortgage Asset Corp   249,862 
 76,294      Apartment Investment & Management Co (Class A)   3,507,235 
 28,601      Apollo Commercial Real Estate Finance, Inc   464,766 
 80,129      Apple Hospitality REIT, Inc   1,632,228 
 23,395      Ares Commercial Real Estate Corp   297,116 
 25,296      Armada Hoffler Properties, Inc   378,681 
167

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 17,917      ARMOUR Residential REIT, Inc  $381,274 
 11,429      Ashford Hospitality Prime, Inc   171,892 
 41,202      Ashford Hospitality Trust, Inc   245,564 
 5,479   *,e  AV Homes, Inc   78,459 
 63,447      AvalonBay Communities, Inc   11,778,936 
 8,243      Bluerock Residential Growth REIT, Inc   109,797 
 74,877      Boston Properties, Inc   10,642,268 
 86,690      Brandywine Realty Trust   1,462,460 
 70,304      Brixmor Property Group, Inc   1,996,634 
 35,146      Camden Property Trust   3,148,730 
 53,268      Capstead Mortgage Corp   530,017 
 40,937      Care Capital Properties, Inc   1,210,916 
 28,069      CareTrust REIT, Inc   405,597 
 18,578      CatchMark Timber Trust Inc   224,980 
 82,226      CBL & Associates Properties, Inc   1,010,558 
 155,576   *  CBRE Group, Inc   4,426,137 
 40,660      Cedar Realty Trust, Inc   326,906 
 16,749      Chatham Lodging Trust   401,641 
 28,782      Chesapeake Lodging Trust   727,321 
 86,265      Chimera Investment Corp   1,447,527 
 8,774      City Office REIT, Inc   118,975 
 54,758      Colony Financial, Inc   973,597 
 31,610      Colony Starwood Homes   1,035,544 
 73,861      Columbia Property Trust, Inc   1,794,822 
 57,773      Communications Sales & Leasing, Inc   1,795,585 
 6,313      Community Healthcare Trust, Inc   145,136 
 1,845   e  Consolidated-Tomoka Land Co   90,276 
 6,682      CorEnergy Infrastructure Trust, Inc   196,584 
 18,742      Coresite Realty   1,546,777 
 44,313      Corporate Office Properties Trust   1,327,617 
 63,738      Corrections Corp of America   2,042,803 
 100,457      Cousins Properties, Inc   1,068,862 
 164,595      Crown Castle International Corp   15,970,653 
 75,310      CubeSmart   2,237,460 
 29,793      CyrusOne, Inc   1,633,252 
 74,038      CYS Investments, Inc   662,640 
 49,318      DCT Industrial Trust, Inc   2,476,750 
 150,563      DDR Corp   2,972,114 
 97,976      DiamondRock Hospitality Co   962,124 
 77,397      Digital Realty Trust, Inc   8,084,891 
 68,494      Douglas Emmett, Inc   2,605,512 
 145,171      Duke Realty Corp   4,179,473 
 41,733      DuPont Fabros Technology, Inc   1,996,089 
 21,154      Dynex Capital, Inc   148,501 
 11,376      Easterly Government Properties, Inc   233,094 
 20,218      EastGroup Properties, Inc   1,488,449 
 32,216      Education Realty Trust, Inc   1,550,878 
 59,196      Empire State Realty Trust, Inc   1,242,524 
 30,888      Entertainment Properties Trust   2,595,210 
 32,248      Equinix, Inc   12,024,312 
 52,692   *  Equity Commonwealth   1,581,814 
 43,341      Equity Lifestyle Properties, Inc   3,564,364 
 44,676      Equity One, Inc   1,486,371 
168

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 174,481      Equity Residential  $11,862,963 
 32,118      Essex Property Trust, Inc   7,511,758 
 58,941      Extra Space Storage, Inc   5,070,105 
 5,780      Farmland Partners, Inc   68,088 
 35,708      Federal Realty Investment Trust   6,059,648 
 64,539      FelCor Lodging Trust, Inc   409,823 
 56,244      First Industrial Realty Trust, Inc   1,657,511 
 28,700      First Potomac Realty Trust   290,157 
 111,881      Forest City Realty Trust, Inc   2,645,986 
 16,040   *,e  Forestar Group, Inc   196,971 
 24,662      Four Corners Property Trust, Inc   535,412 
 47,755      Franklin Street Properties Corp   612,219 
 2,632   *  FRP Holdings, Inc   95,752 
 91,483      Gaming and Leisure Properties, Inc   3,277,836 
 271,213      General Growth Properties, Inc   8,665,255 
 36,009      Geo Group, Inc   1,246,271 
 12,704      Getty Realty Corp   288,635 
 17,812      Gladstone Commercial Corp   324,178 
 82,479   *  Global Net Lease, Inc   720,042 
 39,025      Government Properties Income Trust   931,137 
 180,996      Gramercy Property Trust   1,808,150 
 17,723      Hannon Armstrong Sustainable Infrastructure Capital, Inc   398,590 
 228,779      HCP, Inc   8,975,000 
 50,664      Healthcare Realty Trust, Inc   1,832,010 
 66,120      Healthcare Trust of America, Inc   2,251,386 
 20,220      Hersha Hospitality Trust   382,158 
 46,902      Highwoods Properties, Inc   2,613,379 
 73,062      Hospitality Properties Trust   2,331,408 
 387,992      Host Marriott Corp   6,882,978 
 18,411   *  Howard Hughes Corp   2,199,378 
 38,228      Hudson Pacific Properties   1,292,489 
 18,150      Independence Realty Trust, Inc   164,076 
 53,272      Invesco Mortgage Capital, Inc   767,117 
 59,474      Investors Real Estate Trust   393,718 
 127,332      Iron Mountain, Inc   5,247,352 
 42,332   *  iStar Financial, Inc   438,560 
 24,128      Jones Lang LaSalle, Inc   2,641,292 
 43,925      Kennedy-Wilson Holdings, Inc   924,621 
 44,163      Kilroy Realty Corp   3,233,173 
 180,313      Kimco Realty Corp   5,788,047 
 40,035      Kite Realty Group Trust   1,217,464 
 18,000      Ladder Capital Corp   235,080 
 36,569      Lamar Advertising Co   2,481,572 
 51,918      LaSalle Hotel Properties   1,430,341 
 112,121      Lexington Realty Trust   1,218,755 
 60,813      Liberty Property Trust   2,516,442 
 26,215      LTC Properties, Inc   1,403,289 
 68,863      Macerich Co   6,145,334 
 45,234      Mack-Cali Realty Corp   1,275,599 
 7,054   *  Marcus & Millichap, Inc   188,977 
 114,933      Medical Properties Trust, Inc   1,804,448 
 176,434      MFA Mortgage Investments, Inc   1,326,784 
 34,144      Mid-America Apartment Communities, Inc   3,619,947 
169

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 30,377      Monmouth Real Estate Investment Corp (Class A)  $419,810 
 69,668      Monogram Residential Trust, Inc   746,144 
 18,057      National Health Investors, Inc   1,418,738 
 69,938      National Retail Properties, Inc   3,717,904 
 16,679      National Storage Affiliates Trust   356,430 
 108,823      New Residential Investment Corp   1,487,610 
 36,692      New Senior Investment Group, Inc   439,937 
 53,530      New York Mortgage Trust, Inc   350,086 
 54,953      New York REIT, Inc   524,252 
 8,034      NexPoint Residential Trust, Inc   156,583 
 25,065      NorthStar Realty Europe Corp   231,851 
 86,627      NorthStar Realty Finance Corp   1,160,802 
 90,126      Omega Healthcare Investors, Inc   3,109,347 
 6,278      One Liberty Properties, Inc   157,076 
 6,980      Orchid Island Capital, Inc   77,897 
 67,384      Outfront Media, Inc   1,568,026 
 4,588      Owens Realty Mortgage, Inc   76,711 
 88,247      Paramount Group, Inc   1,555,795 
 34,833      Parkway Properties, Inc   605,049 
 34,872      Pebblebrook Hotel Trust   1,033,955 
 34,599      Pennsylvania REIT   880,199 
 35,055      Pennymac Mortgage Investment Trust   568,943 
 65,496      Physicians Realty Trust   1,422,573 
 99,426      Piedmont Office Realty Trust, Inc   2,181,406 
 29,069      Post Properties, Inc   1,848,498 
 26,414      Potlatch Corp   1,010,336 
 22,337      Preferred Apartment Communities, Inc   332,151 
 242,301      Prologis, Inc   13,202,981 
 14,583      PS Business Parks, Inc   1,617,109 
 73,859      Public Storage, Inc   17,646,392 
 22,756      QTS Realty Trust, Inc   1,302,781 
 49,089      RAIT Investment Trust   155,612 
 38,022      Ramco-Gershenson Properties   754,356 
 73,638      Rayonier, Inc   2,004,426 
 8,639      Re/Max Holdings, Inc   374,241 
 70,617   *  Realogy Holdings Corp   2,188,421 
 126,174      Realty Income Corp   9,017,656 
 37,295      Redwood Trust, Inc   532,200 
 47,019      Regency Centers Corp   3,993,324 
 24,063      Resource Capital Corp   327,497 
 67,247      Retail Opportunities Investment Corp   1,535,249 
 96,240      Retail Properties of America, Inc   1,696,711 
 31,686      Rexford Industrial Realty, Inc   724,342 
 59,376      RLJ Lodging Trust   1,409,586 
 3,209      RMR Group, Inc   109,250 
 21,180      Ryman Hospitality Properties   1,191,163 
 31,460      Sabra Healthcare REIT, Inc   752,209 
 7,154      Saul Centers, Inc   480,534 
 30,659      Select Income REIT   851,094 
 115,034      Senior Housing Properties Trust   2,554,905 
 12,184      Seritage Growth Properties   609,931 
 14,813      Silver Bay Realty Trust Corp   266,930 
 151,879      Simon Property Group, Inc   34,482,608 
170

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 47,741      SL Green Realty Corp  $5,624,845 
 22,290      Sovran Self Storage, Inc   2,281,827 
 234,717      Spirit Realty Capital, Inc   3,208,581 
 24,744   *,e  St. Joe Co   456,032 
 33,464   *  STAG Industrial, Inc   849,316 
 113,439      Starwood Property Trust, Inc   2,472,970 
 73,824      STORE Capital Corp   2,302,571 
 2,960   *  Stratus Properties, Inc   52,066 
 42,107      Summit Hotel Properties, Inc   597,077 
 30,537      Sun Communities, Inc   2,417,004 
 88,977      Sunstone Hotel Investors, Inc   1,183,394 
 46,688      Tanger Factory Outlet Centers, Inc   1,948,757 
 28,242      Taubman Centers, Inc   2,285,343 
 5,639   *  Tejon Ranch Co   148,137 
 18,932      Terreno Realty Corp   527,256 
 22,829      Tier REIT, Inc   397,909 
 8,985   *  Trinity Place Holdings, Inc   73,048 
 169,562      Two Harbors Investment Corp   1,483,668 
 129,946      UDR, Inc   4,837,890 
 9,682      UMH Properties, Inc   119,670 
 13,251   m  United Development Funding IV   42,403 
 6,033      Universal Health Realty Income Trust   359,989 
 58,761      Urban Edge Properties   1,757,542 
 11,670      Urstadt Biddle Properties, Inc (Class A)   288,249 
 165,407      Ventas, Inc   12,597,397 
 459,531      VEREIT, Inc   5,082,413 
 84,019      Vornado Realty Trust   9,023,641 
 35,634      Washington REIT   1,221,890 
 56,962      Weingarten Realty Investors   2,460,189 
 168,171      Welltower, Inc   13,341,005 
 21,861      Western Asset Mortgage Capital Corp   215,112 
 363,162      Weyerhaeuser Co   11,882,661 
 12,824      Whitestone REIT   207,364 
 50,550      WP Carey, Inc   3,672,458 
 103,376      WP GLIMCHER, Inc   1,310,808 
 50,281      Xenia Hotels & Resorts, Inc   903,047 
        TOTAL REAL ESTATE   530,077,792 
               
RETAILING - 5.2%        
 10,432   *  1-800-FLOWERS.COM, Inc (Class A)   95,244 
 29,298      Aaron’s, Inc   701,687 
 31,298      Abercrombie & Fitch Co (Class A)   648,182 
 34,210      Advance Auto Parts, Inc   5,810,911 
 191,386   *  Amazon.com, Inc   145,225,611 
 82,186   e  American Eagle Outfitters, Inc   1,472,773 
 3,476   *,e  America’s Car-Mart, Inc   121,938 
 12,502   *  Asbury Automotive Group, Inc   760,122 
 83,522   *  Ascena Retail Group, Inc   679,034 
 31,793   *  Autonation, Inc   1,696,157 
 14,406   *  AutoZone, Inc   11,726,052 
 19,109   *  Barnes & Noble Education, Inc   220,900 
 28,348      Barnes & Noble, Inc   370,792 
 72,752   *  Bed Bath & Beyond, Inc   3,270,202 
171

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 135,545      Best Buy Co, Inc  $4,554,312 
 10,534      Big 5 Sporting Goods Corp   111,239 
 23,343   e  Big Lots, Inc   1,241,381 
 5,139      Blue Nile, Inc   149,339 
 10,237   *,e  Boot Barn Holdings, Inc   110,150 
 13,316   e  Buckle, Inc   364,725 
 11,795   *  Build-A-Bear Workshop, Inc   160,766 
 34,281   *  Burlington Stores, Inc   2,622,839 
 24,507   *  Cabela’s, Inc   1,265,296 
 20,175      Caleres, Inc   531,006 
 93,111   *,e  Carmax, Inc   5,424,647 
 11,624      Cato Corp (Class A)   415,791 
 60,996      Chico’s FAS, Inc   732,562 
 8,856      Children’s Place Retail Stores, Inc   740,185 
 6,249      Citi Trends, Inc   104,233 
 8,181   *  Container Store Group, Inc   45,241 
 22,058      Core-Mark Holding Co, Inc   1,079,960 
 35,406      CST Brands, Inc   1,583,356 
 14,776   *  Destination XL Group, Inc   76,244 
 41,533      Dick’s Sporting Goods, Inc   2,130,228 
 9,197   e  Dillard’s, Inc (Class A)   622,453 
 138,760      Dollar General Corp   13,146,122 
 111,678   *  Dollar Tree, Inc   10,753,475 
 32,017      DSW, Inc (Class A)   776,732 
 5,857   *  Duluth Holdings, Inc   145,254 
 50,587   *  Etsy, Inc   508,905 
 58,420      Expedia, Inc   6,814,693 
 37,171   *  Express Parent LLC   556,078 
 20,843      Finish Line, Inc (Class A)   452,918 
 25,644   *  Five Below, Inc   1,308,100 
 65,971      Foot Locker, Inc   3,933,191 
 22,283   *  Francesca’s Holdings Corp   283,217 
 15,555      Fred’s, Inc (Class A)   247,169 
 7,507   *  FTD Cos, Inc   190,002 
 49,794   e  GameStop Corp (Class A)   1,541,124 
 109,193   e  Gap, Inc   2,816,088 
 9,647   *  Genesco, Inc   669,695 
 69,643      Genuine Parts Co   7,120,300 
 38,288      GNC Holdings, Inc   781,458 
 9,596      Group 1 Automotive, Inc   598,023 
 188,200   *,e  Groupon, Inc   907,124 
 28,966      Guess?, Inc   426,380 
 7,966      Haverty Furniture Cos, Inc   146,813 
 10,580   *,e  Hibbett Sports, Inc   369,454 
 612,338      Home Depot, Inc   84,649,605 
 15,133      HSN, Inc   774,204 
 149,962   *,e  JC Penney Co, Inc   1,448,633 
 7,029      Kirkland’s, Inc   107,122 
 89,061      Kohl’s Corp   3,704,047 
 117,616      L Brands, Inc   8,691,822 
 10,858   *,e  Lands’ End, Inc   154,292 
 217,983   *  Liberty Interactive Corp   5,844,124 
 35,091   *  Liberty TripAdvisor Holdings, Inc   830,604 
172

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 64,984   *  Liberty Ventures  $2,450,547 
 10,948      Lithia Motors, Inc (Class A)   944,703 
 149,094   *  LKQ Corp   5,127,343 
 438,004      Lowe’s Companies, Inc   36,038,969 
 10,988   *,e  Lumber Liquidators, Inc   165,150 
 149,615      Macy’s, Inc   5,360,705 
 11,282   *  MarineMax, Inc   227,896 
 8,140   *,e  Mattress Firm Holding Corp   242,898 
 41,681   *  Michaels Cos, Inc   1,098,711 
 15,180      Monro Muffler, Inc   950,572 
 18,048   *  Murphy USA, Inc   1,383,199 
 201,275   *  NetFlix, Inc   18,366,344 
 60,215   e  Nordstrom, Inc   2,663,309 
 14,284      Nutri/System, Inc   422,521 
 300,272   *  Office Depot, Inc   1,038,941 
 9,621   *,e  Ollie’s Bargain Outlet Holdings, Inc   251,493 
 46,258   *  O’Reilly Automotive, Inc   13,443,963 
 8,166   e  Outerwall, Inc   430,022 
 4,892   *  Overstock.com, Inc   79,740 
 11,012   *,e  Party City Holdco, Inc   176,412 
 18,385      Penske Auto Group, Inc   728,414 
 8,830   e  PetMed Express, Inc   183,046 
 37,408   e  Pier 1 Imports, Inc   191,529 
 24,254   *  Priceline.com, Inc   32,762,546 
 25,363      Rent-A-Center, Inc   273,920 
 18,416   *,e  Restoration Hardware Holdings, Inc   567,397 
 194,064      Ross Stores, Inc   11,998,977 
 70,703   *  Sally Beauty Holdings, Inc   2,073,719 
 7,344   *,e  Sears Holdings Corp   113,171 
 5,334   *  Sears Hometown and Outlet Stores, Inc   36,698 
 23,405   *  Select Comfort Corp   558,443 
 8,648      Shoe Carnival, Inc   227,529 
 18,928   *  Shutterfly, Inc   1,006,780 
 38,362      Signet Jewelers Ltd   3,372,403 
 13,651      Sonic Automotive, Inc (Class A)   248,175 
 14,779   *,e  Sportsman’s Warehouse Holdings, Inc   150,450 
 18,281   e  Stage Stores, Inc   108,406 
 314,649      Staples, Inc   2,923,089 
 15,745      Stein Mart, Inc   135,407 
 23,788   e  Tailored Brands, Inc   348,494 
 290,193      Target Corp   21,860,239 
 52,902   e  Tiffany & Co   3,413,237 
 15,285   *  Tile Shop Holdings, Inc   260,609 
 16,763   *  Tilly’s, Inc   95,381 
 326,561      TJX Companies, Inc   26,686,565 
 64,661      Tractor Supply Co   5,926,181 
 55,681   *  TripAdvisor, Inc   3,896,000 
 18,379   *  Tuesday Morning Corp   145,010 
 28,626   *  Ulta Salon Cosmetics & Fragrance, Inc   7,477,397 
 42,910   *  Urban Outfitters, Inc   1,283,009 
 16,337   *  Vitamin Shoppe, Inc   478,021 
 15,332   *,e  Wayfair, Inc   666,942 
 6,804   *  West Marine, Inc   59,603 
173

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 42,417      Williams-Sonoma, Inc  $2,293,911 
 892      Winmark Corp   89,708 
 10,806   *,e  Zumiez, Inc   183,486 
        TOTAL RETAILING   581,249,656 
               
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.9%     
 2,398   *,e  Acacia Communications, Inc   155,942 
 19,213   *  Advanced Energy Industries, Inc   782,353 
 312,992   *,e  Advanced Micro Devices, Inc   2,147,125 
 8,895   *  Alpha & Omega Semiconductor Ltd   127,110 
 15,019   *,e  Ambarella, Inc   870,802 
 48,137   *  Amkor Technology, Inc   302,782 
 150,182      Analog Devices, Inc   9,586,117 
 532,360      Applied Materials, Inc   13,995,744 
 33,773   *  Applied Micro Circuits Corp   222,226 
 12,175   *  Axcelis Technologies, Inc   130,273 
 187,128      Broadcom Ltd   30,310,993 
 32,935      Brooks Automation, Inc   412,676 
 11,394      Cabot Microelectronics Corp   599,552 
 27,432   *,e  Cavium, Inc   1,280,251 
 8,650   *  Ceva, Inc   260,019 
 35,639   *  Cirrus Logic, Inc   1,731,699 
 10,237      Cohu, Inc   108,103 
 56,755   *,e  Cree, Inc   1,623,193 
 151,801   e  Cypress Semiconductor Corp   1,766,964 
 18,477   *  Diodes, Inc   342,009 
 9,301   *  DSP Group, Inc   100,730 
 64,946   *  Entegris, Inc   1,109,927 
 20,079   *  Exar Corp   168,262 
 55,581   *  Fairchild Semiconductor International, Inc   1,097,169 
 37,049   *,e  First Solar, Inc   1,729,447 
 34,075   *  Formfactor, Inc   318,601 
 20,327   *  GigOptix, Inc   38,418 
 19,347   *  Inphi Corp   680,627 
 64,415   *  Integrated Device Technology, Inc   1,416,486 
 2,330,321      Intel Corp   81,234,990 
 65,306      Intersil Corp (Class A)   997,876 
 9,988      IXYS Corp   109,269 
 74,098      Kla-Tencor Corp   5,609,960 
 28,048   *  Kopin Corp   65,352 
 77,660   e  Lam Research Corp   6,971,538 
 58,110   *  Lattice Semiconductor Corp   349,241 
 116,537      Linear Technology Corp   6,991,055 
 10,869   *,e  MA-COM Technology Solutions   429,434 
 195,419      Marvell Technology Group Ltd   2,296,173 
 138,324      Maxim Integrated Products, Inc   5,640,853 
 26,254   *  MaxLinear, Inc   572,600 
 102,865   e  Microchip Technology, Inc   5,723,409 
 505,478   *  Micron Technology, Inc   6,945,268 
 54,345   *  Microsemi Corp   2,119,455 
 25,831      MKS Instruments, Inc   1,179,960 
 18,858      Monolithic Power Systems, Inc   1,371,354 
 11,512   *  Nanometrics, Inc   230,700 
174

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 12,097   *  NeoPhotonics Corp Ltd  $151,817 
 1,929      NVE Corp   110,030 
 252,948      Nvidia Corp   14,443,331 
 199,919   *  ON Semiconductor Corp   2,005,188 
 12,269   *  PDF Solutions, Inc   202,439 
 31,365   *  Photronics, Inc   302,986 
 13,255      Power Integrations, Inc   756,463 
 66,515   *  Qorvo, Inc   4,205,743 
 720,192      Qualcomm, Inc   45,069,615 
 51,257   *  Rambus, Inc   692,995 
 13,099   *  Rudolph Technologies, Inc   230,804 
 31,562   *  Semtech Corp   802,306 
 14,732   *  Sigma Designs, Inc   98,704 
 20,097   *  Silicon Laboratories, Inc   1,070,768 
 92,874      Skyworks Solutions, Inc   6,131,541 
 28,046   *,e  SunPower Corp   408,911 
 94,615      Teradyne, Inc   1,868,646 
 32,987      Tessera Technologies, Inc   1,060,202 
 493,173      Texas Instruments, Inc   34,398,817 
 12,988   *  Ultra Clean Holdings   82,993 
 11,718   *  Ultratech, Inc   286,388 
 18,349   *  Veeco Instruments, Inc   307,713 
 22,930   *  Xcerra Corp   139,873 
 124,342      Xilinx, Inc   6,351,389 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   323,433,749 
               
SOFTWARE & SERVICES - 12.0%     
 16,839   *,e  2U, Inc   589,028 
 21,216   *  A10 Networks, Inc   165,909 
 308,172      Accenture plc   34,764,883 
 56,191   *  ACI Worldwide, Inc   1,113,144 
 270,936      Activision Blizzard, Inc   10,880,790 
 17,102   *  Actua Corp   170,678 
 37,648   *  Acxiom Corp   864,022 
 238,924   *  Adobe Systems, Inc   23,381,103 
 85,892   *  Akamai Technologies, Inc   4,340,123 
 5,051   *,e  Alarm.com Holdings, Inc   145,115 
 9,204   *,e  ALJ Regional Holdings, Inc   44,455 
 28,862   *  Alliance Data Systems Corp   6,685,016 
 144,479   *  Alphabet, Inc (Class A)   114,332,012 
 145,998   *  Alphabet, Inc (Class C)   112,241,802 
 7,645   *,e  Amber Road, Inc   67,429 
 71,062      Amdocs Ltd   4,147,178 
 9,809   *  American Software, Inc (Class A)   108,193 
 21,348   *,e  Angie’s List, Inc   172,705 
 45,744   *  Ansys, Inc   4,087,684 
 7,446   *  Apigee Corp   92,628 
 3,667   *  Appfolio, Inc   58,965 
 40,111   *  Aspen Technology, Inc   1,680,250 
 12,789   *  Atlassian Corp plc   383,286 
 4,592   *  Autobytel, Inc   68,237 
 103,585   *  Autodesk, Inc   6,158,128 
 226,843      Automatic Data Processing, Inc   20,177,685 
175

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 19,585   *  AVG Technologies NV  $484,337 
 23,015   *  Bankrate, Inc   183,430 
 10,602   *  Barracuda Networks, Inc   234,092 
 39,296   *  Bazaarvoice, Inc   163,078 
 6,155   *,e  Benefitfocus, Inc   264,665 
 8,337   *,e  Black Knight Financial Services, Inc   323,892 
 22,905      Blackbaud, Inc   1,531,199 
 26,619   *  Blackhawk Network Holdings, Inc   926,075 
 17,474   *  Blucora, Inc   178,410 
 55,691      Booz Allen Hamilton Holding Co   1,719,738 
 19,571   *  Bottomline Technologies, Inc   413,144 
 23,269   *,e  Box, Inc   271,084 
 13,975   *  Brightcove, Inc   146,318 
 54,625      Broadridge Financial Solutions, Inc   3,697,020 
 13,865   *  BroadSoft, Inc   621,568 
 142,532      CA, Inc   4,938,734 
 11,810   *  CACI International, Inc (Class A)   1,125,847 
 141,816   *  Cadence Design Systems, Inc   3,410,675 
 25,742   *  Callidus Software, Inc   528,483 
 7,703   *  Carbonite, Inc   84,810 
 21,904   *  Cardtronics plc   963,557 
 8,834   *  Care.com, Inc   97,086 
 5,256      Cass Information Systems, Inc   273,154 
 73,762      CDK Global, Inc   4,262,706 
 9,269   *  ChannelAdvisor Corp   146,079 
 14,238   *  Cimpress NV   1,349,762 
 74,817   *  Citrix Systems, Inc   6,668,439 
 300,042   *  Cognizant Technology Solutions Corp (Class A)   17,249,415 
 12,997   *,e  CommerceHub, Inc   181,955 
 6,498   *,e  CommerceHub, Inc (Series A)   91,627 
 26,831   *  Commvault Systems, Inc   1,388,236 
 68,714      Computer Sciences Corp   3,286,591 
 23,256   *  comScore, Inc   603,493 
 43,205      Convergys Corp   1,151,413 
 24,511   *  Cornerstone OnDemand, Inc   1,058,630 
 15,636   *  CoStar Group, Inc   3,250,724 
 15,547      CSG Systems International, Inc   625,922 
 80,078      CSRA, Inc   2,155,700 
 15,169   *  Cvent, Inc   494,813 
 8,444   *  Datalink Corp   72,450 
 24,972   *  DHI Group, Inc   182,046 
 3,147   *,e  Digimarc Corp   114,582 
 16,012      DST Systems, Inc   1,974,760 
 50,362      EarthLink Holdings Corp   341,454 
 523,091   *  eBay, Inc   16,299,516 
 11,888   e  Ebix, Inc   633,868 
 142,424   *  Electronic Arts, Inc   10,869,800 
 14,717   *  Ellie Mae, Inc   1,355,583 
 28,979   *  Endurance International Group Holdings, Inc   260,231 
 11,448   *,e  EnerNOC, Inc   85,631 
 20,231   *  Envestnet, Inc   772,217 
 23,398   *  EPAM Systems, Inc   1,643,476 
 13,005      EPIQ Systems, Inc   212,502 
176

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 23,513   *  Euronet Worldwide, Inc  $1,793,101 
 30,923      EVERTEC, Inc   531,876 
 13,747   *  Everyday Health, Inc   112,176 
 6,421   *,e  EXA Corp   93,747 
 18,891   *  ExlService Holdings, Inc   935,293 
 1,104,189   *  Facebook, Inc   136,853,185 
 14,034      Fair Isaac Corp   1,777,266 
 153,663      Fidelity National Information Services, Inc   12,220,818 
 77,037   *,e  FireEye, Inc   1,341,985 
 43,183   *  First American Corp   1,739,411 
 153,300   *  First Data Corp   1,900,920 
 108,606   *  Fiserv, Inc   11,985,758 
 15,809   *  Five9, Inc   199,352 
 44,777   *  FleetCor Technologies, Inc   6,791,775 
 19,147   *  FleetMatics Group plc   822,555 
 5,122      Forrester Research, Inc   209,643 
 69,822   *  Fortinet, Inc   2,422,125 
 39,040   *  Gartner, Inc   3,913,760 
 73,674   *  Genpact Ltd   1,972,253 
 15,636   *  Gigamon, Inc   730,514 
 75,033      Global Payments, Inc   5,601,964 
 3,719   *  Global Sources Ltd   33,397 
 11,161   *,e  Globant S.A.   470,883 
 50,659   *,e  Glu Mobile, Inc   118,542 
 22,813   *,e  GoDaddy, Inc   682,565 
 23,773   *,e  Gogo, Inc   199,931 
 39,245   *,e  GrubHub, Inc   1,488,170 
 12,622   *  GTT Communications, Inc   259,130 
 8,100   *  Guidance Software, Inc   47,628 
 34,162   *  Guidewire Software, Inc   2,099,938 
 10,211      Hackett Group, Inc   136,725 
 11,663   *  Higher One Holdings, Inc   59,831 
 19,344   *,e  Hortonworks, Inc   226,518 
 14,036   *  HubSpot, Inc   766,225 
 33,532      IAC/InterActiveCorp   1,943,515 
 13,777   *  Imperva, Inc   649,172 
 35,668   *  inContact, Inc   495,785 
 28,278   *  Infoblox, Inc   529,364 
 16,246   *,e  Information Services Group, Inc   61,572 
 5,250   *,e  Instructure, Inc   114,135 
 8,696   *,e  Interactive Intelligence, Inc   469,149 
 431,896      International Business Machines Corp   69,371,136 
 16,908   *  Intralinks Holdings, Inc   117,680 
 119,346      Intuit, Inc   13,246,213 
 22,838      j2 Global, Inc   1,526,492 
 42,543      Jack Henry & Associates, Inc   3,796,963 
 24,819   *  Jive Software, Inc   94,312 
 32,428   e  Leidos Holdings, Inc   1,621,724 
 31,019   *  Limelight Networks, Inc   52,422 
 57,492   *  LinkedIn Corp   11,080,433 
 25,980   *  Lionbridge Technologies   117,170 
 10,535   *  Liquidity Services, Inc   85,123 
 23,943   *  Liveperson, Inc   159,820 
177

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 12,179   *  LogMeIn, Inc  $1,046,298 
 35,106   *  Manhattan Associates, Inc   2,037,903 
 10,652      Mantech International Corp (Class A)   420,861 
 13,195      Marchex, Inc (Class B)   41,828 
 20,231   *  Marketo, Inc   711,727 
 475,061      MasterCard, Inc (Class A)   45,244,810 
 15,784   *,e  Match Group, Inc   248,598 
 31,087      MAXIMUS, Inc   1,831,646 
 20,576   *  MeetMe, Inc   132,304 
 52,064      Mentor Graphics Corp   1,112,087 
 3,729,546      Microsoft Corp   211,390,667 
 4,380   *  MicroStrategy, Inc (Class A)   766,018 
 7,240   *,e  MINDBODY, Inc   127,207 
 14,789   *,e  Mitek Systems, Inc   111,657 
 16,990   *  MobileIron, Inc   57,936 
 8,810   *  Model N, Inc   113,737 
 14,404   *  MoneyGram International, Inc   100,252 
 19,584      Monotype Imaging Holdings, Inc   387,567 
 38,282   *  Monster Worldwide, Inc   96,853 
 2,553      NCI, Inc (Class A)   32,398 
 19,026   *,e  NetSuite, Inc   2,070,980 
 26,302   *,e  NeuStar, Inc (Class A)   662,547 
 10,729   *  New Relic, Inc   369,507 
 36,032      NIC, Inc   840,266 
 109,208   *  Nuance Communications, Inc   1,754,973 
 7,073   *,e  Numerex Corp   53,967 
 1,458,800      Oracle Corp   59,869,152 
 107,496   *,e  Pandora Media, Inc   1,461,946 
 3,781   *,e  Park City Group, Inc   36,978 
 164,468      Paychex, Inc   9,749,663 
 21,394   *,e  Paycom Software, Inc   1,010,011 
 10,380   *,e  Paylocity Holding Corp   463,363 
 562,791   *  PayPal Holdings, Inc   20,958,337 
 17,337      Pegasystems, Inc   483,702 
 14,896   *  Perficient, Inc   330,989 
 4,957   *  PFSweb, Inc   49,124 
 20,183   *  Planet Payment, Inc   94,658 
 33,926   *  Progress Software Corp   985,890 
 19,884   *,e  Proofpoint, Inc   1,508,599 
 11,998   *  PROS Holdings, Inc   222,923 
 54,371   *  PTC, Inc   2,160,160 
 12,503   *  Q2 Holdings, Inc   371,089 
 3,997      QAD, Inc (Class A)   75,623 
 44,836   *  QLIK Technologies, Inc   1,354,047 
 13,258   *  Qualys, Inc   416,169 
 15,203   *  QuinStreet, Inc   55,187 
 30,975   *,e  Quotient Technology, Inc   392,144 
 51,869   *  Rackspace Hosting, Inc   1,215,291 
 9,552   *  Rapid7, Inc   133,537 
 9,129   *,e  RealNetworks, Inc   39,529 
 25,225   *  RealPage, Inc   634,409 
 88,660   *  Red Hat, Inc   6,675,211 
 3,209      Reis, Inc   81,124 
178

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 15,888   *  RetailMeNot, Inc  $132,665 
 5,924   *  Rightside Group Ltd   71,088 
 33,267   *  RingCentral, Inc   766,139 
 8,849   *  Rosetta Stone, Inc   68,137 
 37,512   *  Rovi Corp   705,601 
 18,434   *  Rubicon Project, Inc   260,288 
 101,214      Sabre Corp   2,950,388 
 316,942   *  Salesforce.com, Inc   25,925,856 
 9,731      Sapiens International Corp NV   124,362 
 20,630      Science Applications International Corp   1,253,479 
 3,029   *  SecureWorks Corp   44,860 
 77,104   *  ServiceNow, Inc   5,776,632 
 26,981   *  ServiceSource International LLC   121,954 
 10,089   *,e  Shutterstock, Inc   555,803 
 16,631   *  Silver Spring Networks, Inc   209,052 
 63,437   *  Splunk, Inc   3,967,350 
 8,103   *  SPS Commerce, Inc   513,082 
 23,669   *  Square, Inc   238,347 
 82,394      SS&C Technologies Holdings, Inc   2,654,735 
 7,800   *,e  Stamps.com, Inc   591,279 
 18,644   *  Sykes Enterprises, Inc   572,184 
 300,347      Symantec Corp   6,136,089 
 18,954   *  Synchronoss Technologies, Inc   707,742 
 79,387   *  Synopsys, Inc   4,299,600 
 19,344   *  Syntel, Inc   876,477 
 26,933   *  Tableau Software, Inc   1,521,984 
 38,535   *  Take-Two Interactive Software, Inc   1,548,336 
 16,127   *  Tangoe, Inc   130,467 
 8,465   *  TechTarget, Inc   77,201 
 11,456   *  TeleNav, Inc   57,051 
 7,285      TeleTech Holdings, Inc   207,914 
 67,531   *  Teradata Corp   1,916,530 
 44,696   *  TiVo, Inc   471,096 
 76,459      Total System Services, Inc   3,893,292 
 56,389      Travelport Worldwide Ltd   760,688 
 30,043   *,e  TrueCar, Inc   281,503 
 10,696   *,e  TubeMogul, Inc   119,902 
 310,105   *,e  Twitter, Inc   5,160,147 
 16,117   *  Tyler Technologies, Inc   2,627,393 
 13,643   *  Ultimate Software Group, Inc   2,852,751 
 40,630   *,e  Unisys Corp   402,643 
 75,670   *  Vantiv, Inc   4,144,446 
 5,014   *  Varonis Systems, Inc   128,810 
 14,849   *,e  Vasco Data Security International   248,127 
 29,350   *  Verint Systems, Inc   1,035,175 
 47,103   *,e  VeriSign, Inc   4,079,591 
 21,463   *,e  VirnetX Holding Corp   92,935 
 13,306   *  Virtusa Corp   361,923 
 940,248      Visa, Inc (Class A)   73,386,356 
 43,415   *,e  VMware, Inc (Class A)   3,168,427 
 18,161   *,e  WebMD Health Corp (Class A)   1,108,003 
 19,433   *  Website Pros, Inc   366,506 
 251,430      Western Union Co   5,028,600 
179

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 18,877   *  WEX, Inc  $1,768,397 
 56,980   *  Workday, Inc   4,748,713 
 10,768   *,e  Workiva, Inc   150,106 
 10,967   *  Xactly Corp   136,210 
 491,938      Xerox Corp   5,066,961 
 11,023   *  XO Group, Inc   200,949 
 11,778   *  Xura, Inc   292,683 
 427,168   *  Yahoo!, Inc   16,313,546 
 33,413   *  Yelp, Inc   1,074,896 
 37,654   *,e  Zendesk, Inc   1,138,657 
 23,222   *,e  Zillow Group, Inc   915,179 
 50,116   *,e  Zillow Group, Inc (Class C)   1,967,053 
 23,238   *  Zix Corp   94,346 
 346,384   *  Zynga, Inc   994,122 
        TOTAL SOFTWARE & SERVICES   1,346,511,858 
               
TECHNOLOGY HARDWARE & EQUIPMENT - 5.0%        
 55,125   *,e  3D Systems Corp   738,124 
 24,640      Adtran, Inc   448,448 
 10,358   *  Aerohive Networks, Inc   75,717 
 5,601   *  Agilysys, Inc   63,963 
 146,815      Amphenol Corp (Class A)   8,738,429 
 12,849   *  Anixter International, Inc   787,387 
 2,694,733      Apple, Inc   280,818,126 
 9,184   *,e  Applied Optoelectronics, Inc   108,739 
 18,774   *,e  Arista Networks, Inc   1,338,023 
 88,155   *  ARRIS International plc   2,401,342 
 41,766   *  Arrow Electronics, Inc   2,777,021 
 12,829   *  Avid Technology, Inc   83,517 
 60,192      Avnet, Inc   2,473,891 
 21,648      AVX Corp   295,712 
 6,832      Badger Meter, Inc   476,464 
 4,329      Bel Fuse, Inc (Class B)   88,701 
 19,225      Belden CDT, Inc   1,407,462 
 24,123   *  Benchmark Electronics, Inc   565,443 
 6,118      Black Box Corp   83,511 
 222,680      Brocade Communications Systems, Inc   2,070,924 
 15,298   *  CalAmp Corp   217,232 
 18,584   *  Calix, Inc   143,468 
 77,403      CDW Corp   3,322,911 
 66,552   *  Ciena Corp   1,277,133 
 2,479,016      Cisco Systems, Inc   75,684,358 
 4,709   *,e  Clearfield, Inc   94,227 
 39,694      Cognex Corp   1,792,978 
 11,697   *  Coherent, Inc   1,240,467 
 62,700   *  CommScope Holding Co, Inc   1,877,865 
 6,617      Comtech Telecommunications Corp   86,484 
 8,807   *,e  Control4 Corp   76,709 
 526,903      Corning, Inc   11,707,785 
 11,071   e  CPI Card Group, Inc   52,255 
 18,817   *  Cray, Inc   593,864 
 13,984      CTS Corp   267,234 
 15,342      Daktronics, Inc   99,263 
180

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 29,002      Diebold, Inc  $819,016 
 10,399   *  Digi International, Inc   115,533 
 28,174      Dolby Laboratories, Inc (Class A)   1,417,434 
 7,396   *  DTS, Inc   205,535 
 7,109   *  Eastman Kodak Co   120,426 
 22,218   *  EchoStar Corp (Class A)   865,391 
 7,109      Electro Rent Corp   109,976 
 14,155      Electro Scientific Industries, Inc   95,829 
 21,714   *  Electronics for Imaging, Inc   961,713 
 956,011      EMC Corp   27,035,991 
 10,385   *  EMCORE Corp   67,295 
 3,055   *  ePlus, Inc   256,956 
 42,439   *  Extreme Networks, Inc   165,088 
 35,648   *  F5 Networks, Inc   4,399,676 
 17,362   *  Fabrinet   655,589 
 7,269   *  FARO Technologies, Inc   253,543 
 18,333      FEI Co   1,950,998 
 49,222   *  Finisar Corp   923,405 
 61,951   *,e  Fitbit, Inc   846,251 
 66,971      Flir Systems, Inc   2,181,915 
 39,552   *  Harmonic, Inc   130,126 
 62,711      Harris Corp   5,432,027 
 858,392      Hewlett Packard Enterprise Co   18,043,400 
 839,514      HP, Inc   11,761,591 
 33,751   *  II-VI, Inc   678,395 
 11,513   *,e  Immersion Corp   86,463 
 68,360   *  Infinera Corp   598,834 
 77,714      Ingram Micro, Inc (Class A)   2,660,927 
 17,922   *  Insight Enterprises, Inc   476,725 
 16,890      InterDigital, Inc   997,354 
 53,968   *  InvenSense, Inc   365,903 
 17,224   *  IPG Photonics Corp   1,451,811 
 20,565   *  Itron, Inc   877,920 
 31,126   *  Ixia   357,949 
 98,916      Jabil Circuit, Inc   2,012,941 
 182,861      Juniper Networks, Inc   4,149,116 
 83,824   *  Keysight Technologies, Inc   2,451,014 
 12,299   *  Kimball Electronics, Inc   155,213 
 48,953   *  Knowles Corp   657,928 
 5,979   *  KVH Industries, Inc   54,230 
 33,481      Lexmark International, Inc (Class A)   1,227,748 
 10,750      Littelfuse, Inc   1,343,965 
 24,565   *  Lumentum Holdings, Inc   743,091 
 16,124   *  Maxwell Technologies, Inc   88,682 
 1,202   e  Mesa Laboratories, Inc   138,987 
 17,713      Methode Electronics, Inc   620,486 
 85,386      Motorola, Inc   5,924,081 
 7,214      MTS Systems Corp   342,160 
 50,602      National Instruments Corp   1,451,265 
 60,412   *  NCR Corp   1,991,784 
 141,863      NetApp, Inc   3,738,090 
 15,505   *  Netgear, Inc   797,422 
 46,446   *  Netscout Systems, Inc   1,299,559 
181

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 41,984   *  Nimble Storage, Inc  $312,361 
 14,868   *  Novanta, Inc   233,576 
 42,356   *,e  Oclaro, Inc   242,700 
 8,081   *  OSI Systems, Inc   480,577 
 44,126   *  Palo Alto Networks, Inc   5,775,652 
 8,151      Park Electrochemical Corp   132,046 
 5,271      PC Connection, Inc   136,044 
 20,079      Plantronics, Inc   968,611 
 16,122   *  Plexus Corp   740,645 
 57,926   *  Polycom, Inc   717,703 
 29,307   *,e  Pure Storage, Inc   369,268 
 40,380   *  QLogic Corp   626,698 
 17,506   *  Radisys Corp   84,379 
 12,287   *  Rofin-Sinar Technologies, Inc   388,269 
 8,752   *  Rogers Corp   598,987 
 40,168   *  Sanmina Corp   1,017,857 
 11,491   *  Scansource, Inc   471,476 
 28,040   *  ShoreTel, Inc   205,814 
 2,553   e  Silicom Ltd   92,572 
 13,572   *  Silicon Graphics International Corp   73,289 
 20,395   *  Sonus Networks, Inc   175,805 
 23,473   *,e  Stratasys Ltd   491,525 
 18,658   *  Super Micro Computer, Inc   402,080 
 18,109   *  Synaptics, Inc   940,763 
 11,840      SYNNEX Corp   1,190,275 
 4,288   *  Systemax, Inc   38,378 
 17,022   *  Tech Data Corp   1,326,524 
 123,258   *  Trimble Navigation Ltd   3,258,942 
 35,155   *  TTM Technologies, Inc   349,792 
 12,629   e  Ubiquiti Networks, Inc   564,769 
 18,824   *  Universal Display Corp   1,333,492 
 18,717   *,e  USA Technologies, Inc   88,344 
 53,363   *  VeriFone Systems, Inc   1,022,435 
 23,473   *,e  Viasat, Inc   1,733,012 
 114,291   *  Viavi Solutions, Inc   814,895 
 59,297      Vishay Intertechnology, Inc   790,429 
 5,516   *  Vishay Precision Group, Inc   72,535 
 140,987      Western Digital Corp   6,698,292 
 25,055   *  Zebra Technologies Corp (Class A)   1,328,166 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   557,218,901 
               
TELECOMMUNICATION SERVICES - 2.6%        
 40,593   *  8x8, Inc   558,154 
 3,022,095      AT&T, Inc   130,826,493 
 5,163      ATN International, Inc   379,584 
 15,710   *  Boingo Wireless, Inc   143,904 
 265,550      CenturyTel, Inc   8,348,892 
 87,920   *  Cincinnati Bell, Inc   439,600 
 24,658      Cogent Communications Group, Inc   1,053,636 
 24,285   e  Consolidated Communications Holdings, Inc   678,766 
 8,375   *  Fairpoint Communications, Inc   135,591 
 572,667   e  Frontier Communications Corp   2,977,868 
 14,505   *  General Communication, Inc (Class A)   223,232 
182

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 184,564   *,e  Globalstar, Inc  $219,631 
 3,994   *  Hawaiian Telcom Holdco, Inc   88,667 
 16,929      IDT Corp (Class B)   258,337 
 24,947      Inteliquent, Inc   512,661 
 40,177   *,e  Iridium Communications, Inc   360,789 
 140,970   *  Level 3 Communications, Inc   7,133,082 
 8,919   *  Lumos Networks Corp   104,352 
 27,031   *  NII Holdings, Inc   82,174 
 31,665   *  Orbcomm, Inc   335,332 
 5,431   *  pdvWireless, Inc   116,767 
 62,235   *  SBA Communications Corp (Class A)   7,157,025 
 22,538      Shenandoah Telecom Co   925,861 
 11,251      Spok Holdings, Inc   207,918 
 368,672   *  Sprint Corp   2,263,646 
 4,184   *,e  Straight Path Communications, Inc   76,316 
 42,025      Telephone & Data Systems, Inc   1,323,367 
 142,646   *  T-Mobile US, Inc   6,610,216 
 5,233   *  US Cellular Corp   211,675 
 2,005,975      Verizon Communications, Inc   111,151,075 
 92,637   *  Vonage Holdings Corp   549,337 
 53,416   e  Windstream Holdings, Inc   497,303 
 79,872   *  Zayo Group Holdings, Inc   2,260,378 
        TOTAL TELECOMMUNICATION SERVICES   288,211,629 
               
TRANSPORTATION - 2.0%        
 22,768   *  Air Transport Services Group, Inc   329,681 
 59,041      Alaska Air Group, Inc   3,968,736 
 5,886      Allegiant Travel Co   763,826 
 2,978      Amerco, Inc   1,177,829 
 282,523      American Airlines Group, Inc   10,029,567 
 21,971      Arkansas Best Corp   411,077 
 11,244   *  Atlas Air Worldwide Holdings, Inc   486,078 
 40,969   *  Avis Budget Group, Inc   1,504,791 
 10,955      Celadon Group, Inc   90,488 
 69,608      CH Robinson Worldwide, Inc   4,846,109 
 14,754   e  Copa Holdings S.A. (Class A)   988,518 
 6,252      Costamare, Inc   61,207 
 4,833   *  Covenant Transportation Group, Inc   108,888 
 474,842      CSX Corp   13,452,274 
 377,928      Delta Air Lines, Inc   14,644,710 
 14,127   *  Echo Global Logistics, Inc   349,785 
 88,745      Expeditors International of Washington, Inc   4,386,665 
 122,297      FedEx Corp   19,799,884 
 14,493      Forward Air Corp   670,736 
 27,627   *  Genesee & Wyoming, Inc (Class A)   1,788,848 
 25,627   *  Hawaiian Holdings, Inc   1,166,797 
 21,551   e  Heartland Express, Inc   399,125 
 35,234   *  Hertz Global Holdings, Inc   1,715,191 
 16,757   *  Hub Group, Inc (Class A)   686,032 
 42,690      J.B. Hunt Transport Services, Inc   3,548,820 
 153,925   *  JetBlue Airways Corp   2,821,445 
 52,727      Kansas City Southern Industries, Inc   5,067,592 
 24,855   *  Kirby Corp   1,354,349 
183

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 32,577      Knight Transportation, Inc  $971,772 
 20,564      Landstar System, Inc   1,449,556 
 35,759      Macquarie Infrastructure Co LLC   2,740,927 
 11,338      Marten Transport Ltd   245,468 
 21,046      Matson, Inc   786,489 
 146,116      Norfolk Southern Corp   13,118,294 
 32,393   *  Old Dominion Freight Line   2,256,496 
 1,308   *  PAM Transportation Services, Inc   26,199 
 3,699      Park-Ohio Holdings Corp   110,156 
 11,295   *  Radiant Logistics, Inc   35,692 
 14,300   *  Roadrunner Transportation Services Holdings, Inc   108,251 
 23,958      Ryder System, Inc   1,578,832 
 12,165   *  Saia, Inc   351,447 
 24,589      Skywest, Inc   707,426 
 312,894      Southwest Airlines Co   11,580,207 
 34,099   *  Spirit Airlines, Inc   1,457,732 
 38,046   *,e  Swift Transportation Co, Inc   732,386 
 415,552      Union Pacific Corp   38,667,114 
 169,647   *  United Continental Holdings, Inc   7,954,748 
 339,048      United Parcel Service, Inc (Class B)   36,651,089 
 2,557      Universal Truckload Services, Inc   38,227 
 4,109   *  USA Truck, Inc   79,222 
 9,360   *,e  Virgin America, Inc   523,411 
 21,103      Werner Enterprises, Inc   530,107 
 27,854   *  Wesco Aircraft Holdings, Inc   357,924 
 52,276   *,e  XPO Logistics, Inc   1,548,415 
 14,424   *,e  YRC Worldwide, Inc   171,213 
        TOTAL TRANSPORTATION   221,397,848 
               
UTILITIES - 3.5%        
 322,293      AES Corp   3,980,319 
 24,148      Allete, Inc   1,541,850 
 111,204      Alliant Energy Corp   4,475,961 
 118,765      Ameren Corp   6,228,037 
 241,199      American Electric Power Co, Inc   16,715,091 
 18,348      American States Water Co   792,634 
 90,747      American Water Works Co, Inc   7,493,887 
 86,937      Aqua America, Inc   3,011,498 
 3,086      Artesian Resources Corp   105,202 
 58,875   e  Atlantic Power Corp   148,365 
 34,381   e  Atlantica Yield plc   692,777 
 48,215      Atmos Energy Corp   3,847,075 
 37,967      Avangrid, Inc   1,713,830 
 28,160      Avista Corp   1,224,960 
 25,055   e  Black Hills Corp   1,579,718 
 23,317      California Water Service Group   786,482 
 174,779   *  Calpine Corp   2,401,463 
 211,252      Centerpoint Energy, Inc   5,053,148 
 7,592      Chesapeake Utilities Corp   486,419 
 135,184      CMS Energy Corp   6,107,613 
 4,663      Connecticut Water Service, Inc   238,046 
 150,431      Consolidated Edison, Inc   12,046,514 
 6,110      Consolidated Water Co, Inc   82,057 
184

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 3,244      Delta Natural Gas Co, Inc  $85,609 
 303,716      Dominion Resources, Inc   23,695,922 
 81,221      DTE Energy Co   7,920,672 
 338,649      Duke Energy Corp   28,984,968 
 56,535   *  Dynegy, Inc   855,375 
 150,642      Edison International   11,656,678 
 19,551      El Paso Electric Co   932,192 
 27,444      Empire District Electric Co   925,686 
 89,705      Entergy Corp   7,301,090 
 150,976      Eversource Energy   8,830,586 
 445,571      Exelon Corp   16,610,887 
 208,116      FirstEnergy Corp   7,267,411 
 5,556      Genie Energy Ltd   35,670 
 87,929      Great Plains Energy, Inc   2,618,526 
 58,319   *  Hawaiian Electric Industries, Inc   1,810,805 
 24,505      Idacorp, Inc   1,981,229 
 79,560      ITC Holdings Corp   3,679,650 
 88,204      MDU Resources Group, Inc   2,121,306 
 29,738      MGE Energy, Inc   1,669,789 
 7,604      Middlesex Water Co   314,121 
 34,836      National Fuel Gas Co   1,968,582 
 38,468      New Jersey Resources Corp   1,432,548 
 224,961      NextEra Energy, Inc   28,860,247 
 141,725      NiSource, Inc   3,636,663 
 13,264      Northwest Natural Gas Co   861,364 
 23,579      NorthWestern Corp   1,432,188 
 154,138      NRG Energy, Inc   2,133,270 
 21,926      NRG Yield, Inc (Class A)   376,689 
 33,550   e  NRG Yield, Inc (Class C)   601,887 
 97,413      OGE Energy Corp   3,133,776 
 25,269      ONE Gas, Inc   1,641,474 
 18,855      Ormat Technologies, Inc   860,542 
 18,362      Otter Tail Corp   639,916 
 33,623   e  Pattern Energy Group, Inc   819,393 
 243,276      PG&E Corp   15,555,067 
 39,567      Piedmont Natural Gas Co, Inc   2,366,107 
 58,352      Pinnacle West Capital Corp   4,602,222 
 37,981      PNM Resources, Inc   1,305,027 
 43,373      Portland General Electric Co   1,894,099 
 332,183      PPL Corp   12,526,621 
 247,773      Public Service Enterprise Group, Inc   11,400,036 
 85,675      Questar Corp   2,156,440 
 63,716      SCANA Corp   4,774,877 
 124,753      Sempra Energy   13,957,366 
 8,058      SJW Corp   341,337 
 32,956      South Jersey Industries, Inc   1,050,637 
 460,700      Southern Co   24,647,450 
 18,799      Southwest Gas Corp   1,456,922 
 2,378   e  Spark Energy, Inc   58,951 
 17,761      Spire, Inc   1,232,613 
 43,911   *  Talen Energy Corp   597,190 
 43,322   e  TerraForm Global, Inc   150,761 
 43,606   e  TerraForm Power, Inc   512,807 
185

TIAA-CREF FUNDS - Equity Index Fund

 

SHARES      COMPANY  VALUE 
               
 95,075      UGI Corp  $4,303,094 
 8,987      Unitil Corp   393,091 
 33,919      Vectren Corp   1,754,630 
 10,796   *,e  Vivint Solar, Inc   32,604 
 150,022      WEC Energy Group, Inc   9,737,928 
 69,201      Westar Energy, Inc   3,845,500 
 22,771      WGL Holdings, Inc   1,611,959 
 237,049      Xcel Energy, Inc   10,425,415 
 5,212      York Water Co   163,865 
        TOTAL UTILITIES   391,304,273 
              
        TOTAL COMMON STOCKS   11,205,101,716 
        (Cost $7,537,811,950)     
              
RIGHTS / WARRANTS - 0.0%        
DIVERSIFIED FINANCIALS - 0.0%        
 267   m  Emergent Capital, Inc   0 
        TOTAL DIVERSIFIED FINANCIALS   0 
              
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%        
 874   e  Asterias Biotherapeutics, Inc   201 
 1,296   m  Forest Laboratories, Inc CVR   1,231 
 1,988   m  Omthera Pharmaceuticals, Inc   1,193 
 12,340   e,m  Trius Therapeutics, Inc   1,604 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   4,229 
              
SOFTWARE & SERVICES - 0.0%        
 3,514   m  Gerber Scientific, Inc   0 
        TOTAL SOFTWARE & SERVICES   0 
              
TELECOMMUNICATION SERVICES - 0.0%        
 19,784   m  Leap Wireless International, Inc   49,856 
        TOTAL TELECOMMUNICATION SERVICES   49,856 
              
        TOTAL RIGHTS / WARRANTS   54,085 
        (Cost $50,442)     

 

PRINCIPAL     ISSUER  RATE  MATURITY DATE    
SHORT-TERM INVESTMENTS - 2.9%        
GOVERNMENT AGENCY DEBT - 0.2%        
$21,900,000    Federal Home Loan Bank (FHLB)   0.090%  08/01/16   21,900,000 
       TOTAL GOVERNMENT AGENCY DEBT           21,900,000 
                     
SHARES     COMPANY              
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.7%          
 301,860,805  a,c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		   301,860,805 
       TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   301,860,805 
                     
       TOTAL SHORT-TERM INVESTMENTS           323,760,805 
       (Cost $323,760,805)             
186

TIAA-CREF FUNDS - Equity Index Fund

 

       COMPANY          VALUE 
                     
       TOTAL INVESTMENTS - 102.8%          $11,528,916,606 
       (Cost $7,861,623,197)             
       OTHER ASSETS & LIABILITIES, NET - (2.8)%           (317,986,674)
       NET ASSETS - 100.0%          $11,210,929,932 
       
     
                         Abbreviation(s):
    ETF    Exchange Traded Fund
    REIT  Real Estate Investment Trust
    SPDR Standard & Poor’s Depository Receipts
     
*   Non-income producing
a   Affiliated holding
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $296,077,687.
m   Indicates a security that has been deemed illiquid.
187

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

TIAA-CREF FUNDS
LARGE-CAP GROWTH INDEX FUND
SCHEDULE OF INVESTMENTS (unaudited)
July 31, 2016
 
SHARES       COMPANY  VALUE  
          
COMMON STOCKS - 99.7%    
      
AUTOMOBILES & COMPONENTS - 0.8%     
 8,618      BorgWarner, Inc  $285,945 
 76,850      Delphi Automotive plc   5,211,967 
 50,938      Gentex Corp   900,075 
 50,495   e  Harley-Davidson, Inc   2,672,195 
 53,972      Johnson Controls, Inc   2,478,394 
 17,041      Lear Corp   1,933,302 
 33,342   *,e  Tesla Motors, Inc   7,828,368 
 13,421      Thor Industries, Inc   1,027,243 
 9,498      Visteon Corp   665,715 
        TOTAL AUTOMOBILES & COMPONENTS   23,003,204 
              
BANKS - 0.2%         
 60,889      Citizens Financial Group, Inc   1,359,651 
 32,625      First Republic Bank   2,338,234 
 9,107   *  Signature Bank   1,095,025 
 10,866   *  SVB Financial Group   1,091,164 
 14,662   *  Western Alliance Bancorp   498,948 
        TOTAL BANKS   6,383,022 
              
CAPITAL GOODS - 7.3%        
 168,357      3M Co   30,028,154 
 21,111      A.O. Smith Corp   1,961,001 
 12,298      Acuity Brands, Inc   3,227,364 
 14,051      Air Lease Corp   404,809 
 26,739      Allegion plc   1,935,636 
 12,822      Ametek, Inc   603,019 
 31,615      BE Aerospace, Inc   1,512,304 
 169,908      Boeing Co   22,709,903 
 25,946      BWX Technologies, Inc   955,072 
 5,221      Carlisle Cos, Inc   539,277 
 47,080      Danaher Corp   3,834,195 
 21,344   e  Deere & Co   1,658,642 
 32,603      Donaldson Co, Inc   1,177,946 
 28,988      Emerson Electric Co   1,620,429 
 80,275      Fastenal Co   3,431,756 
 21,999      Flowserve Corp   1,052,652 
 22,311   *  Fortive Corp   1,075,613 
 43,550      Fortune Brands Home & Security, Inc   2,755,409 
 27,738      General Dynamics Corp   4,074,435 
 500,949      General Electric Co   15,599,552 
 15,383      Graco, Inc   1,138,496 
 56,005   *  HD Supply Holdings, Inc   2,026,821 
 5,409      HEICO Corp   375,980 
 10,633      HEICO Corp (Class A)   613,205 
 1,377   *  Herc Holdings, Inc   48,677 
188

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
              
 26,048      Hexcel Corp  $1,124,492 
 215,584      Honeywell International, Inc   25,078,887 
 10,542      Hubbell, Inc   1,136,744 
 11,788      Huntington Ingalls   2,034,373 
 19,720      IDEX Corp   1,770,659 
 82,879      Illinois Tool Works, Inc   9,564,237 
 35,903      Ingersoll-Rand plc   2,378,933 
 10,534      Lennox International, Inc   1,651,731 
 11,185      Lincoln Electric Holdings, Inc   694,141 
 74,330      Lockheed Martin Corp   18,785,421 
 17,105   *  Manitowoc Foodservice, Inc   313,706 
 60,559      Masco Corp   2,209,192 
 16,338   *  Middleby Corp   1,966,768 
 5,500      MSC Industrial Direct Co (Class A)   395,065 
 15,902      Nordson Corp   1,403,988 
 48,035      Northrop Grumman Corp   10,405,822 
 8,989      Paccar, Inc   530,081 
 10,927   *  Quanta Services, Inc   279,731 
 31,680      Raytheon Co   4,420,310 
 29,164      Rockwell Automation, Inc   3,336,362 
 36,687      Rockwell Collins, Inc   3,104,454 
 13,943      Roper Industries, Inc   2,375,330 
 12,032      Snap-On, Inc   1,891,069 
 19,382   *  Spirit Aerosystems Holdings, Inc (Class A)   840,791 
 4,264      Stanley Works   518,929 
 23,363      Textron, Inc   911,157 
 14,865      Toro Co   1,366,837 
 14,602   *  TransDigm Group, Inc   4,081,551 
 21,611   *  United Rentals, Inc   1,721,748 
 4,943      Valmont Industries, Inc   647,286 
 16,182   e  W.W. Grainger, Inc   3,541,431 
 14,993   *  WABCO Holdings, Inc   1,503,348 
 7,229      Watsco, Inc   1,041,265 
 23,977      Westinghouse Air Brake Technologies Corp   1,642,425 
 25,954      Xylem, Inc   1,240,861 
        TOTAL CAPITAL GOODS   220,269,472 
              
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%    
 24,048      Cintas Corp   2,579,629 
 1,602   *  Clean Harbors, Inc   82,375 
 28,573   *  Copart, Inc   1,441,222 
 32,114      Covanta Holding Corp   514,466 
 3,677      Dun & Bradstreet Corp   475,252 
 33,038      Equifax, Inc   4,376,214 
 38,351      KAR Auction Services, Inc   1,640,272 
 82,840      Nielsen NV   4,461,762 
 55,651      Pitney Bowes, Inc   1,074,621 
 39,053      R.R. Donnelley & Sons Co   699,830 
 35,489      Robert Half International, Inc   1,296,768 
 30,305      Rollins, Inc   853,995 
 23,363   *  Stericycle, Inc   2,108,978 
 14,718   *  TransUnion   481,573 
 11,866      Tyco International plc   540,734 
189

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
          
 42,816   *  Verisk Analytics, Inc  $3,651,349 
 103,419      Waste Management, Inc   6,838,064 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   33,117,104 
              
CONSUMER DURABLES & APPAREL - 2.4%        
 20,529      Brunswick Corp   1,018,649 
 3,681      CalAtlantic Group, Inc   133,289 
 14,881      Carter’s, Inc   1,506,701 
 14,575      Coach, Inc   628,328 
 51,596      DR Horton, Inc   1,696,477 
 106,985      Hanesbrands, Inc   2,852,220 
 9,089      Harman International Industries, Inc   751,115 
 31,303      Hasbro, Inc   2,542,743 
 37,114   *  Kate Spade & Co   805,003 
 37,249      Leggett & Platt, Inc   1,958,180 
 1,384      Lennar Corp (B Shares)   51,955 
 26,298      Lennar Corp (Class A)   1,230,746 
 27,213   *  Lululemon Athletica, Inc   2,113,089 
 97,563      Mattel, Inc   3,256,653 
 48,714   *  Michael Kors Holdings Ltd   2,519,488 
 13,843   *  Mohawk Industries, Inc   2,892,356 
 124,860      Newell Brands, Inc   6,550,156 
 379,759      Nike, Inc (Class B)   21,076,625 
 984   *  NVR, Inc   1,677,720 
 18,057   e  Polaris Industries, Inc   1,783,129 
 11,233      Pool Corp   1,148,911 
 28,514      Pulte Homes, Inc   603,927 
 1,104      Ralph Lauren Corp   108,291 
 37,118   *  Skechers U.S.A., Inc (Class A)   891,574 
 15,542   *,e  Tempur-Pedic International, Inc   1,175,441 
 21,647   *  Toll Brothers, Inc   606,333 
 13,998      Tupperware Brands Corp   877,395 
 51,637   *  Under Armour, Inc   1,843,441 
 51,967   *,e  Under Armour, Inc (Class A)   2,050,618 
 94,962      VF Corp   5,928,478 
 2,939   *  Vista Outdoor, Inc   147,097 
 2,023      Whirlpool Corp   389,144 
        TOTAL CONSUMER DURABLES & APPAREL   72,815,272 
              
CONSUMER SERVICES - 3.3%     
 29,146      ARAMARK Holdings Corp   1,044,884 
 18,583      Brinker International, Inc   876,003 
 8,321   *  Chipotle Mexican Grill, Inc (Class A)   3,528,021 
 6,323      Choice Hotels International, Inc   305,338 
 34,158      Darden Restaurants, Inc   2,102,766 
 13,845      Domino’s Pizza, Inc   2,039,368 
 25,627      Dunkin Brands Group, Inc   1,161,159 
 3,881      Extended Stay America, Inc   54,955 
 129,182      Hilton Worldwide Holdings, Inc   2,995,730 
 393   *,e  Hyatt Hotels Corp   19,823 
 102,792      Las Vegas Sands Corp   5,206,415 
 46,913      Marriott International, Inc (Class A)   3,363,662 
 248,869      McDonald’s Corp   29,279,438 
190

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
          
 11,849   *  MGM Resorts International  $284,139 
 4,126   *  Norwegian Cruise Line Holdings Ltd   175,768 
 6,930   *  Panera Bread Co (Class A)   1,519,888 
 52,965      Service Corp International   1,468,190 
 37,752   *  ServiceMaster Global Holdings, Inc   1,428,158 
 19,906      Six Flags Entertainment Corp   1,122,499 
 404,360      Starbucks Corp   23,473,098 
 29,587      Starwood Hotels & Resorts Worldwide, Inc   2,309,561 
 10,037      Vail Resorts, Inc   1,435,994 
 33,331      Wendy’s   321,977 
 30,467      Wyndham Worldwide Corp   2,163,766 
 21,181   e  Wynn Resorts Ltd   2,074,679 
 109,780      Yum! Brands, Inc   9,816,528 
        TOTAL CONSUMER SERVICES   99,571,807 
              
DIVERSIFIED FINANCIALS - 2.0%        
 13,570   *  Affiliated Managers Group, Inc   1,991,805 
 14,174      Ameriprise Financial, Inc   1,358,436 
 9,235      Artisan Partners Asset Management, Inc   258,211 
 24,715      CBOE Holdings, Inc   1,700,392 
 261,570      Charles Schwab Corp   7,433,819 
 2,259   *,e  Credit Acceptance Corp   408,134 
 37,560      Discover Financial Services   2,134,910 
 30,593      Eaton Vance Corp   1,156,721 
 11,847      Factset Research Systems, Inc   2,037,210 
 28,315      Federated Investors, Inc (Class B)   893,905 
 2,018      Interactive Brokers Group, Inc (Class A)   70,307 
 15,601      IntercontinentalExchange Group, Inc   4,121,784 
 22,390      Invesco Ltd   653,340 
 86,532   e  iShares Russell 1000 Growth Index Fund   9,061,631 
 4,842      Lazard Ltd (Class A)   173,053 
 4,587   e  LPL Financial Holdings, Inc   123,620 
 10,211      MarketAxess Holdings, Inc   1,650,710 
 42,269      Moody’s Corp   4,480,937 
 6,753      Morningstar, Inc   571,169 
 25,763      MSCI, Inc (Class A)   2,216,648 
 54,902      NorthStar Asset Management Group, Inc   651,138 
 74,976      S&P Global, Inc   9,162,067 
 36,283      SEI Investments Co   1,632,735 
 51,724      T Rowe Price Group, Inc   3,656,370 
 61,728      TD Ameritrade Holding Corp   1,874,062 
        TOTAL DIVERSIFIED FINANCIALS   59,473,114 
              
ENERGY - 0.6%         
 74,596      Apache Corp   3,916,290 
 91,599      Cabot Oil & Gas Corp   2,259,747 
 23,645   *,e  Chesapeake Energy Corp   128,156 
 4,131      Cimarex Energy Co   495,803 
 11,703   *,e  Continental Resources, Inc   515,517 
 14,092   *  Devon Energy Corp   539,442 
 4,835   *  Diamondback Energy, Inc   424,465 
 17,182      EOG Resources, Inc   1,403,769 
 5,891   *  Memorial Resource Development Corp   88,247 
191

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
          
 14,085   *  Newfield Exploration Co  $609,880 
 60,074      Oneok, Inc   2,690,714 
 4,325   *  Parsley Energy, Inc   123,306 
 133,008   *,e  Southwestern Energy Co   1,939,257 
 30,060      Spectra Energy Corp   1,081,258 
 33,137      Williams Cos, Inc   794,294 
        TOTAL ENERGY   17,010,145 
         
FOOD & STAPLES RETAILING - 2.4%        
 10,833      Casey’s General Stores, Inc   1,446,639 
 124,421      Costco Wholesale Corp   20,805,679 
 289,422      CVS Health Corp   26,835,208 
 269,095      Kroger Co   9,200,358 
 291,860   *  Rite Aid Corp   2,043,020 
 38,874   *,e  Sprouts Farmers Market, Inc   899,156 
 147,594      Sysco Corp   7,643,893 
 12,384   *  US Foods Holding Corp   299,197 
 50,432      Walgreens Boots Alliance, Inc   3,996,736 
 15,068      Whole Foods Market, Inc   459,273 
        TOTAL FOOD & STAPLES RETAILING   73,629,159 
              
FOOD, BEVERAGE & TOBACCO - 6.5%        
 555,964      Altria Group, Inc   37,638,763 
 16,566   *  Blue Buffalo Pet Products, Inc   425,415 
 7,147   e  Brown-Forman Corp   755,152 
 26,223      Brown-Forman Corp (Class B)   2,574,836 
 52,152      Campbell Soup Co   3,247,505 
 833,130      Coca-Cola Co   36,349,462 
 96,285      ConAgra Foods, Inc   4,502,287 
 47,107      Constellation Brands, Inc (Class A)   7,755,225 
 51,690      Dr Pepper Snapple Group, Inc   5,091,982 
 43,104      Flowers Foods, Inc   792,683 
 169,050      General Mills, Inc   12,153,005 
 21,903   *  Hain Celestial Group, Inc   1,156,259 
 39,836      Hershey Co   4,412,235 
 66,754      Hormel Foods Corp   2,493,262 
 14,113      Ingredion, Inc   1,880,416 
 63,962      Kellogg Co   5,290,297 
 22,026      Kraft Heinz Co   1,902,826 
 32,914      McCormick & Co, Inc   3,365,457 
 18,768      Mead Johnson Nutrition Co   1,674,106 
 42,238   *  Monster Beverage Corp   6,784,690 
 359,183      PepsiCo, Inc   39,122,212 
 46,925      Philip Morris International, Inc   4,704,701 
 6,195   e  Pilgrim’s Pride Corp   144,034 
 11,193   *  Post Holdings, Inc   970,097 
 145,287      Reynolds American, Inc   7,273,067 
 4,797   *  TreeHouse Foods, Inc   495,002 
 39,075      Tyson Foods, Inc (Class A)   2,875,920 
 49,143   *  WhiteWave Foods Co (Class A)   2,726,945 
        TOTAL FOOD, BEVERAGE & TOBACCO    198,557,841 
                 
192

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
          
HEALTH CARE EQUIPMENT & SERVICES - 6.7%     
 11,509   *  Abiomed, Inc  $1,357,717 
 7,006   *,e  Acadia Healthcare Co, Inc   395,839 
 32,868      Aetna Inc   3,786,722 
 5,043   *  Alere, Inc   189,112 
 20,442   *  Align Technology, Inc   1,822,404 
 50,312      AmerisourceBergen Corp   4,286,079 
 8,401   *  Amsurg Corp   630,159 
 20,701      Anthem, Inc   2,718,869 
 10,857   *,e  athenahealth, Inc   1,387,416 
 21,255      Bard (C.R.), Inc   4,755,381 
 15,942      Baxter International, Inc   765,535 
 58,389      Becton Dickinson & Co   10,276,464 
 385,599   *  Boston Scientific Corp   9,362,344 
 83,990      Cardinal Health, Inc   7,021,564 
 34,258   *  Centene Corp   2,416,902 
 84,996   *  Cerner Corp   5,302,900 
 24,748      Cigna Corp   3,191,502 
 11,059      Cooper Cos, Inc   2,017,936 
 18,352   *  DaVita, Inc   1,423,014 
 22,900   *  DexCom, Inc   2,112,067 
 59,719   *  Edwards Lifesciences Corp   6,839,020 
 43,242   *  Envision Healthcare Holdings, Inc   1,063,321 
 158,317   *  Express Scripts Holding Co   12,043,174 
 60,288   *  HCA Holdings, Inc   4,650,013 
 23,821   *  Henry Schein, Inc   4,311,125 
 17,057      Hill-Rom Holdings, Inc   911,356 
 76,813   *  Hologic, Inc   2,956,532 
 39,864      Humana, Inc   6,878,533 
 24,738   *  Idexx Laboratories, Inc   2,320,177 
 42,083   *  IMS Health Holdings, Inc   1,263,332 
 16,479   *,e  Inovalon Holdings, Inc   306,839 
 10,839   *  Intuitive Surgical, Inc   7,541,343 
 13,719   *  Laboratory Corp of America Holdings   1,914,624 
 63,887      McKesson Corp   12,429,855 
 17,951   *  MEDNAX, Inc   1,237,003 
 23,324      Patterson Cos, Inc   1,151,273 
 3,899   *  Premier, Inc   127,497 
 38,825      Resmed, Inc   2,674,266 
 54,629      St. Jude Medical, Inc   4,536,392 
 95,324      Stryker Corp   11,084,275 
 2,242      Teleflex, Inc   404,255 
 23,858   *  Tenet Healthcare Corp   730,293 
 266,385      UnitedHealth Group, Inc   38,146,332 
 5,892      Universal Health Services, Inc (Class B)   763,191 
 28,528   *  Varian Medical Systems, Inc   2,702,743 
 21,661   *  VCA Antech, Inc   1,545,296 
 26,776   *  Veeva Systems, Inc   1,017,220 
 11,357   *  WellCare Health Plans, Inc   1,212,928 
 20,000      West Pharmaceutical Services, Inc   1,605,600 
 27,341      Zimmer Holdings, Inc   3,585,499 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   203,173,233 
193

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
      
HOUSEHOLD & PERSONAL PRODUCTS - 1.0%     
 35,758      Church & Dwight Co, Inc  $3,512,866 
 30,763      Clorox Co   4,032,106 
 43,533      Colgate-Palmolive Co   3,240,161 
 7,593   e  Coty, Inc   204,024 
 5,324      Energizer Holdings, Inc   274,346 
 61,321      Estee Lauder Cos (Class A)   5,696,721 
 21,145   *,e  Herbalife Ltd   1,438,072 
 87,824      Kimberly-Clark Corp   11,377,599 
 4,381      Nu Skin Enterprises, Inc (Class A)   233,945 
 7,323   e  Spectrum Brands, Inc   942,983 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   30,952,823 
              
INSURANCE - 0.7%          
 1,064      Amtrust Financial Services, Inc   25,398 
 75,259      Aon plc   8,057,981 
 33,460      Arthur J. Gallagher & Co   1,645,898 
 5,867      Brown & Brown, Inc   215,084 
 6,345      Erie Indemnity Co (Class A)   619,843 
 15,110      Lincoln National Corp   659,854 
 145,575      Marsh & McLennan Cos, Inc   9,571,556 
 17,326      Progressive Corp   563,268 
 25,638      XL Group Ltd   887,331 
        TOTAL INSURANCE   22,246,213 
              
MATERIALS - 3.5%          
 47,586      Air Products & Chemicals, Inc   7,110,300 
 4,396      Aptargroup, Inc   343,679 
 24,138      Avery Dennison Corp   1,880,109 
 45,841   *  Axalta Coating Systems Ltd   1,308,761 
 47,482      Ball Corp   3,355,553 
 3,833      Bemis Co, Inc   195,636 
 35,470   *  Berry Plastics Group, Inc   1,454,270 
 3,747      Celanese Corp (Series A)   237,635 
 37,518   *  Crown Holdings, Inc   1,987,328 
 13,114      Eagle Materials, Inc   1,100,920 
 73,785      Ecolab, Inc   8,734,668 
 249,281      EI du Pont de Nemours & Co   17,242,767 
 30,015      FMC Corp   1,426,913 
 80,025      Freeport-McMoRan Copper & Gold, Inc (Class B)   1,037,124 
 59,976      Graphic Packaging Holding Co   818,073 
 22,237      International Flavors & Fragrances, Inc   2,963,080 
 43,657      LyondellBasell Industries AF S.C.A   3,285,626 
 16,340      Martin Marietta Materials, Inc   3,311,301 
 80,228      Monsanto Co   8,565,944 
 1,947      NewMarket Corp   833,199 
 47,074   *  Owens-Illinois, Inc   884,520 
 26,032      Packaging Corp of America   1,944,330 
 75,128      PPG Industries, Inc   7,866,653 
 72,322      Praxair, Inc   8,428,406 
 1,687      Royal Gold, Inc   142,619 
 36,294      RPM International, Inc   1,969,312 
 11,597      Scotts Miracle-Gro Co (Class A)   855,279 
 54,760      Sealed Air Corp   2,583,577 
194

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
          
 23,122      Sherwin-Williams Co  $6,930,357 
 11,356      Silgan Holdings, Inc   563,031 
 10,359   e  Southern Copper Corp (NY)   269,230 
 9,723      Steel Dynamics, Inc   260,771 
 21,855      Valspar Corp   2,326,902 
 35,017      Vulcan Materials Co   4,341,408 
 11,028      WR Grace & Co   825,666 
        TOTAL MATERIALS   107,384,947 
              
MEDIA - 5.0%          
 16,168   *  AMC Networks, Inc   895,060 
 1,304      Cable One, Inc   683,140 
 114,348      CBS Corp (Class B)   5,971,253 
 56,986   *  Charter Communications, Inc   13,384,302 
 29,542      Cinemark Holdings, Inc   1,110,779 
 6,212      Clear Channel Outdoor Holdings, Inc (Class A)   43,422 
 632,743      Comcast Corp (Class A)   42,551,967 
 38,779   *  Discovery Communications, Inc (Class A)   972,965 
 62,053   *  Discovery Communications, Inc (Class C)   1,522,781 
 47,199   *  DISH Network Corp (Class A)   2,521,371 
 111,917      Interpublic Group of Cos, Inc   2,580,806 
 16,879   e  Lions Gate Entertainment Corp   337,411 
 21,019   *  Live Nation, Inc   576,341 
 545   *  Madison Square Garden Co   99,621 
 68,517      Omnicom Group, Inc   5,638,264 
 6,357   e  Regal Entertainment Group (Class A)   149,517 
 23,037      Scripps Networks Interactive (Class A)   1,521,824 
 510,805   *,e  Sirius XM Holdings, Inc   2,242,434 
 26,628   *  Starz-Liberty Capital   804,964 
 147,801      Time Warner, Inc   11,328,947 
 1,669      Tribune Co   61,836 
 239,308      Twenty-First Century Fox, Inc   6,375,165 
 107,445      Twenty-First Century Fox, Inc (Class B)   2,904,238 
 2,460      Viacom, Inc   122,114 
 85,972      Viacom, Inc (Class B)   3,909,147 
 463,592      Walt Disney Co   44,481,652 
        TOTAL MEDIA   152,791,321 
              
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 10.6%     
 460,295      AbbVie, Inc   30,485,338 
 26,418   *,e  Acadia Pharmaceuticals, Inc   978,523 
 22,752      Agilent Technologies, Inc   1,094,599 
 8,699   *,e  Agios Pharmaceuticals, Inc   393,456 
 23,360   *  Akorn, Inc   799,613 
 61,349   *  Alexion Pharmaceuticals, Inc   7,889,481 
 42,706   *  Alkermes plc   2,131,029 
 66,486   *  Allergan plc   16,817,634 
 18,111   *,e  Alnylam Pharmaceuticals, Inc   1,232,997 
 214,579      Amgen, Inc   36,914,025 
 62,451   *  Biogen Idec, Inc   18,106,418 
 45,872   *  BioMarin Pharmaceutical, Inc   4,560,594 
 11,028      Bio-Techne Corp   1,239,768 
 477,448      Bristol-Myers Squibb Co   35,717,885 
195

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
          
 29,554      Bruker BioSciences Corp  $736,486 
 219,488   *  Celgene Corp   24,624,359 
 12,994   *  Charles River Laboratories International, Inc   1,142,562 
 276,891      Eli Lilly & Co   22,951,495 
 377,097      Gilead Sciences, Inc   29,967,899 
 41,347   *  Illumina, Inc   6,878,073 
 46,089   *  Incyte Corp   4,157,689 
 4,783   *,e  Intercept Pharmaceuticals, Inc   827,603 
 15,373   *,e  Intrexon Corp   389,398 
 34,060   *,e  Ionis Pharmaceuticals, Inc   994,211 
 136,570      Johnson & Johnson   17,102,661 
 15,743   *,e  Juno Therapeutics, Inc   486,931 
 45,022   *  Medivation, Inc   2,880,958 
 7,766   *  Mettler-Toledo International, Inc   3,193,457 
 34,694   *  Mylan NV   1,623,332 
 23,917   *  Neurocrine Biosciences, Inc   1,201,351 
 81,841   *,e  Opko Health, Inc   814,318 
 6,344      PerkinElmer, Inc   361,100 
 120,975      Pfizer, Inc   4,462,768 
 16,359   *  Quintiles Transnational Holdings, Inc   1,270,113 
 22,060   *  Regeneron Pharmaceuticals, Inc   9,378,147 
 27,067   *,e  Seattle Genetics, Inc   1,300,840 
 50,566      Thermo Electron Corp   8,031,903 
 3,410   *  United Therapeutics Corp   412,644 
 69,470   *  Vertex Pharmaceuticals, Inc   6,738,590 
 2,278   *  VWR Corp   71,347 
 22,605   *  Waters Corp   3,592,613 
 129,501      Zoetis Inc   6,535,915 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   320,490,123 
              
REAL ESTATE - 3.0%         
 1,159      Alexandria Real Estate Equities, Inc   130,156 
 120,827      American Tower Corp   13,988,142 
 8,660      Boston Properties, Inc   1,230,846 
 2,285      Care Capital Properties, Inc   67,590 
 86,038   *  CBRE Group, Inc   2,447,781 
 84,336      Crown Castle International Corp   8,183,122 
 33,591      CubeSmart   997,989 
 17,276      CyrusOne, Inc   947,070 
 30,260      Digital Realty Trust, Inc   3,160,960 
 15,533      Empire State Realty Trust, Inc   326,038 
 19,310      Equinix, Inc   7,200,120 
 22,201      Equity Lifestyle Properties, Inc   1,825,810 
 7,138      Essex Property Trust, Inc   1,669,435 
 33,577      Extra Space Storage, Inc   2,888,293 
 19,688      Federal Realty Investment Trust   3,341,054 
 51,983      Gaming and Leisure Properties, Inc   1,862,551 
 27,716      Healthcare Trust of America, Inc   943,730 
 72,558      Iron Mountain, Inc   2,990,115 
 22,830      Lamar Advertising Co   1,549,244 
 19,227      Omega Healthcare Investors, Inc   663,331 
 6,231      Outfront Media, Inc   144,995 
 42,520      Public Storage, Inc   10,158,878 
196

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
              
 6,466      Regency Centers Corp  $549,157 
 14,356      Senior Housing Properties Trust   318,847 
 79,369      Simon Property Group, Inc   18,019,938 
 8,340      Sovran Self Storage, Inc   853,766 
 24,961      Tanger Factory Outlet Centers, Inc   1,041,872 
 7,204      Taubman Centers, Inc   582,948 
 29,600      Ventas, Inc   2,254,336 
        TOTAL REAL ESTATE   90,338,114 
              
RETAILING - 9.2%          
 19,733      Advance Auto Parts, Inc   3,351,847 
 110,695   *  Amazon.com, Inc   83,996,473 
 7,300   *  Autonation, Inc   389,455 
 8,239   *  AutoZone, Inc   6,706,299 
 4,363   *  Bed Bath & Beyond, Inc   196,117 
 11,746   *  Burlington Stores, Inc   898,686 
 1,769   *  Cabela’s, Inc   91,334 
 54,279   *,e  Carmax, Inc   3,162,295 
 19,056      Dick’s Sporting Goods, Inc   977,382 
 80,534      Dollar General Corp   7,629,791 
 64,134   *  Dollar Tree, Inc   6,175,463 
 34,537      Expedia, Inc   4,028,741 
 33,449      Foot Locker, Inc   1,994,229 
 4,555   e  Gap, Inc   117,473 
 38,614      Genuine Parts Co   3,947,895 
 102,286   *  Groupon, Inc   493,019 
 355,432      Home Depot, Inc   49,134,920 
 12,810      L Brands, Inc   946,659 
 68,077   *  Liberty Interactive Corp   1,825,144 
 7,029   *  Liberty Ventures   265,064 
 87,042   *  LKQ Corp   2,993,374 
 254,393      Lowe’s Companies, Inc   20,931,456 
 19,872   *  Michaels Cos, Inc   523,826 
 6,268   *  Murphy USA, Inc   480,380 
 116,152   *  NetFlix, Inc   10,598,870 
 34,311   e  Nordstrom, Inc   1,517,576 
 27,283   *  O’Reilly Automotive, Inc   7,929,258 
 14,078   *  Priceline.com, Inc   19,016,703 
 113,114      Ross Stores, Inc   6,993,839 
 45,528   *  Sally Beauty Holdings, Inc   1,335,336 
 20,119      Signet Jewelers Ltd   1,768,661 
 17,690      Target Corp   1,332,588 
 187,188      TJX Companies, Inc   15,297,003 
 37,190      Tractor Supply Co   3,408,464 
 31,757   *  TripAdvisor, Inc   2,222,037 
 16,494   *  Ulta Salon Cosmetics & Fragrance, Inc   4,308,398 
 19,328   *  Urban Outfitters, Inc   577,907 
 26,559      Williams-Sonoma, Inc   1,436,311 
        TOTAL RETAILING   279,000,273 
              
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.7%        
 220,515      Applied Materials, Inc   5,797,339 
 107,271      Broadcom Ltd   17,375,757 
197

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES       COMPANY  VALUE  
              
 10,102   *,e  Cree, Inc  $288,917 
 124,279      Intel Corp   4,332,366 
 44,205      Kla-Tencor Corp   3,346,761 
 35,809      Lam Research Corp   3,214,574 
 32,792      Linear Technology Corp   1,967,192 
 78,837      Maxim Integrated Products, Inc   3,214,973 
 58,693   e  Microchip Technology, Inc   3,265,679 
 145,636      Nvidia Corp   8,315,816 
 11,541   *  ON Semiconductor Corp   115,756 
 3,757   *  Qorvo, Inc   237,555 
 87,207      Qualcomm, Inc   5,457,414 
 49,272      Skyworks Solutions, Inc   3,252,937 
 286,034      Texas Instruments, Inc   19,950,871 
 22,427      Xilinx, Inc   1,145,571 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   81,279,478 
              
SOFTWARE & SERVICES - 21.6%        
 178,646      Accenture plc   20,153,055 
 157,788      Activision Blizzard, Inc   6,336,766 
 140,200   *  Adobe Systems, Inc   13,719,972 
 42,715   *  Akamai Technologies, Inc   2,158,389 
 16,315   *  Alliance Data Systems Corp   3,778,880 
 83,688   *  Alphabet, Inc (Class A)   66,225,662 
 84,584   *  Alphabet, Inc (Class C)   65,027,333 
 7,937   *  Ansys, Inc   709,250 
 7,275   *  Atlassian Corp plc   218,032 
 48,303   *  Autodesk, Inc   2,871,613 
 131,265      Automatic Data Processing, Inc   11,676,022 
 6,265   *,e  Black Knight Financial Services, Inc   243,395 
 29,801      Booz Allen Hamilton Holding Co   920,255 
 32,798      Broadridge Financial Solutions, Inc   2,219,769 
 83,363   *  Cadence Design Systems, Inc   2,004,880 
 43,300      CDK Global, Inc   2,502,307 
 43,268   *  Citrix Systems, Inc   3,856,477 
 170,997   *  Cognizant Technology Solutions Corp (Class A)   9,830,618 
 1,406   *,e  CommerceHub, Inc   19,681 
 703   *,e  CommerceHub, Inc (Series A)   9,911 
 8,902   *  CoStar Group, Inc   1,850,726 
 45,602      CSRA, Inc   1,227,606 
 9,138      DST Systems, Inc   1,126,990 
 305,608   *  eBay, Inc   9,522,745 
 82,288   *  Electronic Arts, Inc   6,280,220 
 13,810   *  Euronet Worldwide, Inc   1,053,151 
 638,816   *  Facebook, Inc   79,174,855 
 51,517      Fidelity National Information Services, Inc   4,097,147 
 10,394   *,e  FireEye, Inc   181,063 
 14,484   *  First American Corp   583,415 
 94,649   *  First Data Corp   1,173,648 
 64,421   *  Fiserv, Inc   7,109,502 
 25,539   *  FleetCor Technologies, Inc   3,873,755 
 43,381   *  Fortinet, Inc   1,504,887 
 22,266   *  Gartner, Inc   2,232,166 
 41,751   *  Genpact Ltd   1,117,674 
198

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES      COMPANY  VALUE 
              
 43,376      Global Payments, Inc  $3,238,452 
 15,292   *,e  GoDaddy, Inc   457,537 
 20,136   *  Guidewire Software, Inc   1,237,760 
 15,365      IAC/InterActiveCorp   890,555 
 172,376      International Business Machines Corp   27,687,033 
 69,869      Intuit, Inc   7,754,760 
 23,927      Jack Henry & Associates, Inc   2,135,485 
 33,432   *  LinkedIn Corp   6,443,349 
 19,960   *  Manhattan Associates, Inc   1,158,678 
 274,165      MasterCard, Inc (Class A)   26,111,475 
 8,101   *,e  Match Group, Inc   127,591 
 2,155,591      Microsoft Corp   122,178,898 
 11,071   *,e  NetSuite, Inc   1,205,078 
 45,467   *  Nuance Communications, Inc   730,655 
 84,719      Oracle Corp   3,476,868 
 53,431   *,e  Pandora Media, Inc   726,662 
 93,342      Paychex, Inc   5,533,314 
 321,868   *  PayPal Holdings, Inc   11,986,364 
 14,741   *  PTC, Inc   585,660 
 29,754   *  Rackspace Hosting, Inc   697,136 
 52,271   *  Red Hat, Inc   3,935,484 
 57,732      Sabre Corp   1,682,888 
 181,294   *  Salesforce.com, Inc   14,829,849 
 44,575   *  ServiceNow, Inc   3,339,559 
 36,481   *  Splunk, Inc   2,281,522 
 14,487   *  Square, Inc   145,884 
 43,078      SS&C Technologies Holdings, Inc   1,387,973 
 22,640      Symantec Corp   462,535 
 3,986   *  Synopsys, Inc   215,882 
 16,011   *  Tableau Software, Inc   904,782 
 35,522   *  Teradata Corp   1,008,114 
 46,299      Total System Services, Inc   2,357,545 
 158,489   *,e  Twitter, Inc   2,637,257 
 9,156   *  Tyler Technologies, Inc   1,492,611 
 7,674   *  Ultimate Software Group, Inc   1,604,633 
 43,157   *  Vantiv, Inc   2,363,709 
 27,385   *,e  VeriSign, Inc   2,371,815 
 543,751      Visa, Inc (Class A)   42,439,766 
 7,485   *,e  VMware, Inc (Class A)   546,255 
 145,982      Western Union Co   2,919,640 
 10,866   *  WEX, Inc   1,017,927 
 33,361   *  Workday, Inc   2,780,306 
 16,126   *  Yelp, Inc   518,773 
 10,808   *  Zillow Group, Inc   425,943 
 19,611   *,e  Zillow Group, Inc (Class C)   769,732 
        TOTAL SOFTWARE & SERVICES   655,395,511 
              
TECHNOLOGY HARDWARE & EQUIPMENT - 5.7%     
 85,217      Amphenol Corp (Class A)   5,072,116 
 1,429,874   d  Apple, Inc   149,007,169 
 11,179   *,e  Arista Networks, Inc   796,727 
 13,349   *  ARRIS International plc   363,627 
 47,777      CDW Corp   2,051,067 
199

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

SHARES      COMPANY  VALUE 
              
 23,248      Cognex Corp  $1,050,112 
 35,635   *  CommScope Holding Co, Inc   1,067,268 
 56,826      EMC Corp   1,607,039 
 18,688   *  F5 Networks, Inc   2,306,473 
 11,404      FEI Co   1,213,614 
 31,497   *,e  Fitbit, Inc   430,249 
 8,260   *  IPG Photonics Corp   696,235 
 7,657      Motorola, Inc   531,243 
 26,793      National Instruments Corp   768,423 
 33,612   *  NCR Corp   1,108,188 
 24,997   *  Palo Alto Networks, Inc   3,271,857 
 55,429   *  Trimble Navigation Ltd   1,465,543 
 32,825   *  VeriFone Systems, Inc   628,927 
 11,871   *  Zebra Technologies Corp (Class A)   629,282 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   174,065,159 
              
TELECOMMUNICATION SERVICES - 1.3%        
 22,100   *  SBA Communications Corp (Class A)   2,541,500 
 50,007   *  T-Mobile US, Inc   2,317,325 
 581,971      Verizon Communications, Inc   32,247,013 
 45,527   *  Zayo Group Holdings, Inc   1,288,414 
        TOTAL TELECOMMUNICATION SERVICES   38,394,252 
              
TRANSPORTATION - 2.0%        
 28,046      Alaska Air Group, Inc   1,885,252 
 1,058      Amerco, Inc   418,450 
 24,651   *  Avis Budget Group, Inc   905,431 
 40,819      CH Robinson Worldwide, Inc   2,841,819 
 170,584      Delta Air Lines, Inc   6,610,130 
 36,391      Expeditors International of Washington, Inc   1,798,807 
 70,692      FedEx Corp   11,445,035 
 4,131   *  Hertz Global Holdings, Inc   201,097 
 25,292      J.B. Hunt Transport Services, Inc   2,102,524 
 6,735   *  JetBlue Airways Corp   123,453 
 14,002      Landstar System, Inc   987,001 
 11,967   *  Old Dominion Freight Line   833,621 
 180,939      Southwest Airlines Co   6,696,552 
 38,246      Union Pacific Corp   3,558,790 
 196,802      United Parcel Service, Inc (Class B)   21,274,296 
        TOTAL TRANSPORTATION   61,682,258 
              
UTILITIES - 0.1%        
 10,125      Dominion Resources, Inc   789,952 
 20,738      ITC Holdings Corp   959,133 
 1,693      Piedmont Natural Gas Co, Inc   101,240 
        TOTAL UTILITIES   1,850,325 
              
        TOTAL COMMON STOCKS   3,022,874,170 
        (Cost $2,226,004,671)     
200

TIAA-CREF FUNDS - Large-Cap Growth Index Fund

 

PRINCIPAL        ISSUER  RATE  MATURITY
DATE		  VALUE  
                   
SHORT-TERM INVESTMENTS - 2.5%            
GOVERNMENT AGENCY DEBT - 0.6%            
$16,600,000   d Federal Home Loan Bank (FHLB)   0.090%  08/01/16  $16,600,000 
         TOTAL GOVERNMENT AGENCY DEBT           16,600,000 
                     
SHARES        COMPANY             
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.9%            
 58,773,674   c   TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		      58,773,674 
         TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES     58,773,674 
                       
         TOTAL SHORT-TERM INVESTMENTS           75,373,674 
         (Cost $75,373,674)             
         TOTAL INVESTMENTS - 102.2%           3,098,247,844 
         (Cost $2,301,378,345)             
         OTHER ASSETS & LIABILITIES, NET - (2.2)%           (67,948,297)
         NET ASSETS - 100.0%          $3,030,299,547 
       
       
*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
d   All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $58,091,655.
201

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

TIAA-CREF FUNDS
LARGE-CAP VALUE INDEX FUND
SCHEDULE OF INVESTMENTS (unaudited)
July 31, 2016

 

SHARES      COMPANY  VALUE 
              
COMMON STOCKS - 99.6%     
              
AUTOMOBILES & COMPONENTS - 1.2%    
 82,375      BorgWarner, Inc  $2,733,203 
 1,663,426      Ford Motor Co   21,058,973 
 600,827      General Motors Co   18,950,084 
 41,694      Gentex Corp   736,733 
 115,423      Goodyear Tire & Rubber Co   3,309,177 
 193,528      Johnson Controls, Inc   8,886,806 
 5,258      Lear Corp   596,520 
        TOTAL AUTOMOBILES & COMPONENTS   56,271,496 
              
BANKS - 9.9%
 61,502      Associated Banc-Corp   1,143,937 
 4,409,788      Bank of America Corp   63,897,828 
 18,252      Bank of Hawaii Corp   1,257,928 
 41,218      BankUnited   1,237,364 
 349,865      BB&T Corp   12,899,523 
 10,630   e  BOK Financial Corp   693,395 
 85,538      CIT Group, Inc   2,956,193 
 1,258,421      Citigroup, Inc   55,131,424 
 134,806      Citizens Financial Group, Inc   3,010,218 
 74,305      Comerica, Inc   3,361,558 
 35,579      Commerce Bancshares, Inc   1,682,531 
 22,413   e  Cullen/Frost Bankers, Inc   1,521,619 
 60,425      East West Bancorp, Inc   2,067,743 
 325,510      Fifth Third Bancorp   6,178,180 
 96,236      First Horizon National Corp   1,401,196 
 146,741      First Niagara Financial Group, Inc   1,493,823 
 13,042      First Republic Bank   934,720 
 338,069      Huntington Bancshares, Inc   3,211,655 
 1,560,391      JPMorgan Chase & Co   99,818,212 
 358,800      Keycorp   4,197,960 
 64,298      M&T Bank Corp   7,365,979 
 200,532      New York Community Bancorp, Inc   2,897,687 
 50,088      PacWest Bancorp   2,071,139 
 130,376      People's United Financial, Inc   1,976,500 
 214,632      PNC Financial Services Group, Inc   17,739,335 
 43,380      Popular, Inc   1,461,472 
 541,009      Regions Financial Corp   4,961,053 
 8,824   *  Signature Bank   1,060,998 
 214,534      SunTrust Banks, Inc   9,072,643 
 5,636   *  SVB Financial Group   565,967 
 52,286      Synovus Financial Corp   1,591,586 
 66,843      TCF Financial Corp   908,396 
 28,459      TFS Financial Corp   517,954 
 697,397      US Bancorp   29,409,232 
 1,961,236      Wells Fargo & Co   94,080,491 
202

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 19,129   *  Western Alliance Bancorp  $650,960 
 84,911      Zions Bancorporation   2,367,319 
        TOTAL BANKS   446,795,718 
              
CAPITAL GOODS - 7.4%     
 65,417   *  Aecom Technology Corp   2,321,649 
 30,556      AGCO Corp   1,471,577 
 20,198      Air Lease Corp   581,904 
 61,889      Allison Transmission Holdings, Inc   1,783,641 
 80,374      Ametek, Inc   3,779,989 
 19,256   *  Armstrong World Industries, Inc   817,802 
 18,463      Carlisle Cos, Inc   1,907,043 
 238,960      Caterpillar, Inc   19,776,329 
 44,640      Chicago Bridge & Iron Co NV   1,509,279 
 42,648   *  Colfax Corp   1,252,145 
 20,854      Crane Co   1,299,204 
 67,668      Cummins, Inc   8,307,600 
 191,528      Danaher Corp   15,598,040 
 101,487   e  Deere & Co   7,886,555 
 4,028      Donaldson Co, Inc   145,532 
 65,457      Dover Corp   4,675,594 
 195,217      Eaton Corp   12,378,710 
 230,608      Emerson Electric Co   12,890,987 
 21,137      Flowserve Corp   1,011,406 
 58,963      Fluor Corp   3,155,700 
 95,946   *  Fortive Corp   4,625,557 
 61,425      General Dynamics Corp   9,022,718 
 3,183,534      General Electric Co   99,135,249 
 8,210   *  Herc Holdings, Inc   290,224 
 8,218      Hubbell, Inc   886,147 
 3,641      Huntington Ingalls   628,364 
 2,176      IDEX Corp   195,383 
 54,810      Ingersoll-Rand plc   3,631,711 
 39,334      ITT, Inc   1,247,281 
 50,701   *  Jacobs Engineering Group, Inc   2,713,518 
 63,275      KBR, Inc   887,116 
 32,701      L-3 Communications Holdings, Inc   4,958,453 
 1,128      Lennox International, Inc   176,870 
 9,866      Lincoln Electric Holdings, Inc   612,284 
 30,360   *  Manitowoc Foodservice, Inc   556,802 
 48,759      Masco Corp   1,778,728 
 11,716      MSC Industrial Direct Co (Class A)   841,560 
 24,812      Orbital ATK, Inc   2,161,622 
 32,247      Oshkosh Truck Corp   1,776,487 
 48,600      Owens Corning, Inc   2,571,426 
 132,914      Paccar, Inc   7,837,939 
 56,860      Parker Hannifin Corp   6,492,843 
 70,249      Pentair plc   4,483,291 
 43,507   *  Quanta Services, Inc   1,113,779 
 78,643      Raytheon Co   10,973,058 
 18,772      Regal-Beloit Corp   1,145,280 
 11,245      Rockwell Automation, Inc   1,286,428 
 20,636      Roper Industries, Inc   3,515,549 
203

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 6,425      Snap-On, Inc  $1,009,817 
 29,327   *,e  SolarCity Corp   783,031 
 27,571   *  Spirit Aerosystems Holdings, Inc (Class A)   1,196,030 
 56,406      Stanley Works   6,864,610 
 46,308      Terex Corp   1,117,875 
 78,315      Textron, Inc   3,054,285 
 30,428      Timken Co   1,017,817 
 63,667      Trinity Industries, Inc   1,477,711 
 6,002   *  United Rentals, Inc   478,179 
 332,618      United Technologies Corp   35,806,328 
 39,769   *  USG Corp   1,119,895 
 2,272      Valmont Industries, Inc   297,518 
 17,780   *,e  WESCO International, Inc   991,057 
 35,552      Xylem, Inc   1,699,741 
        TOTAL CAPITAL GOODS   335,010,247 
              
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%     
 21,540   *  Clean Harbors, Inc   1,107,587 
 8,997      Dun & Bradstreet Corp   1,162,862 
 30,793      Manpower, Inc   2,137,034 
 32,675      Nielsen NV   1,759,876 
 27,802      R.R. Donnelley & Sons Co   498,212 
 101,038      Republic Services, Inc   5,179,208 
 1,834   *  Stericycle, Inc   165,555 
 154,674      Tyco International plc   7,048,494 
 33,904      Waste Management, Inc   2,241,732 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   21,300,560 
              
CONSUMER DURABLES & APPAREL - 0.7%     
 7,025      Brunswick Corp   348,581 
 28,708      CalAtlantic Group, Inc   1,039,517 
 96,239      Coach, Inc   4,148,863 
 64,435      DR Horton, Inc   2,118,623 
 48,064   *,e  Garmin Ltd   2,611,317 
 16,657      Harman International Industries, Inc   1,376,534 
 2,443      Lennar Corp (B Shares)   91,710 
 36,737      Lennar Corp (Class A)   1,719,292 
 5,361   *  Mohawk Industries, Inc   1,120,127 
 34,833      Phillips-Van Heusen Corp   3,520,223 
 103,211      Pulte Homes, Inc   2,186,009 
 22,600      Ralph Lauren Corp   2,216,834 
 35,899   *  Toll Brothers, Inc   1,005,531 
 22,484   *  Vista Outdoor, Inc   1,125,324 
 28,697      Whirlpool Corp   5,520,155 
        TOTAL CONSUMER DURABLES & APPAREL   30,148,640 
              
CONSUMER SERVICES - 0.7%     
 60,188      ARAMARK Holdings Corp   2,157,740 
 174,076      Carnival Corp   8,132,831 
 3,705      Choice Hotels International, Inc   178,914 
 24,941      Extended Stay America, Inc   353,165 
 1,916      Graham Holdings Co   964,208 
 95,463      H&R Block, Inc   2,271,065 
204

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 26,047      Hilton Worldwide Holdings, Inc  $604,030 
 11,815   *  Hyatt Hotels Corp   595,949 
 39,278      International Game Technology plc   820,910 
 9,859      Marriott International, Inc (Class A)   706,890 
 185,686   *  MGM Resorts International   4,452,750 
 61,084   *  Norwegian Cruise Line Holdings Ltd   2,602,178 
 72,533      Royal Caribbean Cruises Ltd   5,254,290 
 28,719      Starwood Hotels & Resorts Worldwide, Inc   2,241,805 
 37,960      Wendy's   366,694 
 3,196      Wynn Resorts Ltd   313,048 
        TOTAL CONSUMER SERVICES   32,016,467 
              
DIVERSIFIED FINANCIALS - 5.1%     
 2,895   *  Affiliated Managers Group, Inc   424,928 
 186,794      Ally Financial, Inc   3,369,764 
 342,122      American Express Co   22,053,184 
 46,672      Ameriprise Financial, Inc   4,473,044 
 447,929      Bank of New York Mellon Corp   17,648,403 
 53,453      BlackRock, Inc   19,577,161 
 218,529      Capital One Financial Corp   14,658,925 
 100,895      Charles Schwab Corp   2,867,436 
 144,562      CME Group, Inc   14,780,019 
 117,779      Discover Financial Services   6,694,558 
 121,242   *  E*TRADE Financial Corp   3,040,749 
 153,862      Franklin Resources, Inc   5,568,266 
 165,328      Goldman Sachs Group, Inc   26,255,740 
 23,245      Interactive Brokers Group, Inc (Class A)   809,856 
 26,248      IntercontinentalExchange Group, Inc   6,934,722 
 145,591      Invesco Ltd   4,248,345 
 78,742   e  iShares Russell 1000 Value Index Fund   8,312,793 
 46,412      Lazard Ltd (Class A)   1,658,765 
 45,469      Legg Mason, Inc   1,552,312 
 142,459      Leucadia National Corp   2,601,301 
 31,860   e  LPL Financial Holdings, Inc   858,627 
 7,254      Moody's Corp   768,997 
 612,374      Morgan Stanley   17,593,505 
 48,526      NASDAQ OMX Group, Inc   3,433,700 
 142,254      Navient Corp   2,020,007 
 88,205      Northern Trust Corp   5,961,776 
 23,641   *  OneMain Holdings, Inc   681,806 
 53,038      Raymond James Financial, Inc   2,911,786 
 47,671   *  Santander Consumer USA Holdings, Inc   523,904 
 177,015   *  SLM Corp   1,272,738 
 168,869      State Street Corp   11,108,203 
 357,620   *  Synchrony Financial   9,970,446 
 25,157      T Rowe Price Group, Inc   1,778,348 
 11,916      TD Ameritrade Holding Corp   361,770 
 89,645      Voya Financial, Inc   2,297,601 
        TOTAL DIVERSIFIED FINANCIALS   229,073,485 
              
ENERGY - 12.8%     
 219,550      Anadarko Petroleum Corp   11,972,061 
 68,796   *  Antero Resources Corp   1,801,767 
205

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 49,985      Apache Corp  $2,624,212 
 187,775      Baker Hughes, Inc   8,981,278 
 56,398      Cabot Oil & Gas Corp   1,391,339 
 84,592   *  Cheniere Energy, Inc   3,538,483 
 244,317   *,e  Chesapeake Energy Corp   1,324,198 
 806,915      Chevron Corp   82,692,649 
 33,244      Cimarex Energy Co   3,989,945 
 55,791   *  Concho Resources, Inc   6,929,242 
 532,692      ConocoPhillips   21,744,488 
 94,549   e  Consol Energy, Inc   1,832,360 
 19,958   *,e  Continental Resources, Inc   879,150 
 203,693   *  Devon Energy Corp   7,797,368 
 26,480   e  Diamond Offshore Drilling, Inc   601,626 
 22,997   *  Diamondback Energy, Inc   2,018,907 
 16,120   *  Dril-Quip, Inc   877,412 
 41,245      Energen Corp   1,954,188 
 135,660      Ensco plc   1,244,002 
 209,826      EOG Resources, Inc   17,142,784 
 73,329      EQT Corp   5,342,751 
 1,779,104   d  Exxon Mobil Corp   158,251,301 
 96,599   *  FMC Technologies, Inc   2,451,683 
 13,017   e  Frank's International NV   160,369 
 54,628   *  Gulfport Energy Corp   1,589,129 
 366,773      Halliburton Co   16,013,309 
 41,020   e  Helmerich & Payne, Inc   2,542,009 
 119,885      Hess Corp   6,431,830 
 70,690      HollyFrontier Corp   1,796,940 
 824,143      Kinder Morgan, Inc   16,754,827 
 59,620   *  Kosmos Energy LLC   330,891 
 59,497   *,e  Laredo Petroleum Holdings, Inc   596,160 
 363,618      Marathon Oil Corp   4,959,750 
 225,339      Marathon Petroleum Corp   8,876,103 
 33,542   *  Memorial Resource Development Corp   502,459 
 70,397   e  Murphy Oil Corp   1,930,990 
 115,740      Nabors Industries Ltd   1,041,660 
 160,983      National Oilwell Varco, Inc   5,207,800 
 63,204   *  Newfield Exploration Co   2,736,733 
 107,119   e  Noble Corp plc   790,538 
 180,019      Noble Energy, Inc   6,430,279 
 327,547      Occidental Petroleum Corp   24,477,587 
 40,704      Oceaneering International, Inc   1,134,828 
 58,278   *  Parsley Energy, Inc   1,661,506 
 59,609      Patterson-UTI Energy, Inc   1,155,818 
 41,266      PBF Energy, Inc   921,882 
 192,452      Phillips 66   14,637,899 
 69,807      Pioneer Natural Resources Co   11,348,524 
 91,374      Questar Market Resources, Inc   1,663,007 
 71,988      Range Resources Corp   2,901,836 
 51,668   *  Rice Energy, Inc   1,204,898 
 52,048      Rowan Cos plc   793,212 
 22,135   *,e  RPC, Inc   320,736 
 597,560      Schlumberger Ltd   48,115,531 
 31,427   e  SM Energy Co   852,615 
206

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 252,480      Spectra Energy Corp  $9,081,706 
 62,814      Superior Energy Services   1,003,140 
 65,963      Targa Resources Investments, Inc   2,457,781 
 50,943      Tesoro Corp   3,879,309 
 147,894   e  Transocean Ltd (NYSE)   1,625,355 
 201,090      Valero Energy Corp   10,512,985 
 390,346   *  Weatherford International Ltd   2,217,165 
 94,137   *,e  Whiting Petroleum Corp   693,790 
 246,584      Williams Cos, Inc   5,910,618 
 28,733      World Fuel Services Corp   1,367,691 
 142,745   *  WPX Energy, Inc   1,426,023 
        TOTAL ENERGY   577,440,412 
              
FOOD & STAPLES RETAILING - 1.7%     
 27,038      CVS Health Corp   2,506,963 
 292,494      Walgreens Boots Alliance, Inc   23,180,149 
 649,416      Wal-Mart Stores, Inc   47,387,886 
 113,601      Whole Foods Market, Inc   3,462,559 
        TOTAL FOOD & STAPLES RETAILING   76,537,557 
              
FOOD, BEVERAGE & TOBACCO - 4.2%     
 245,310      Archer Daniels Midland Co   11,058,575 
 893      Brown-Forman Corp   94,354 
 3,231      Brown-Forman Corp (Class B)   317,252 
 59,488      Bunge Ltd   3,916,690 
 420,225      Coca-Cola Co   18,334,417 
 38,189      ConAgra Foods, Inc   1,785,718 
 6,828      Flowers Foods, Inc   125,567 
 10,759   *  Hain Celestial Group, Inc   567,968 
 14,155      Hormel Foods Corp   528,689 
 9,462      Ingredion, Inc   1,260,717 
 49,492      J.M. Smucker Co   7,629,687 
 8,574      Kellogg Co   709,155 
 223,409      Kraft Heinz Co   19,300,304 
 50,505      Mead Johnson Nutrition Co   4,505,046 
 73,449      Molson Coors Brewing Co (Class B)   7,503,550 
 641,677      Mondelez International, Inc   28,220,955 
 81,095      PepsiCo, Inc   8,832,867 
 593,317      Philip Morris International, Inc   59,485,962 
 20,964   e  Pilgrim's Pride Corp   487,413 
 49,273      Pinnacle Foods, Inc   2,473,997 
 11,362   *  Post Holdings, Inc   984,744 
 136,482      Reynolds American, Inc   6,832,289 
 15,683   *  TreeHouse Foods, Inc   1,618,329 
 66,870      Tyson Foods, Inc (Class A)   4,921,632 
        TOTAL FOOD, BEVERAGE & TOBACCO   191,495,877 
              
HEALTH CARE EQUIPMENT & SERVICES - 3.8%     
 630,556      Abbott Laboratories   28,217,381 
 20,562   *,e  Acadia Healthcare Co, Inc   1,161,753 
 96,512      Aetna Inc   11,119,147 
 30,457   *  Alere, Inc   1,142,137 
 77,399   *  Allscripts Healthcare Solutions, Inc   1,092,874 
              
207

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 10,372   *  Amsurg Corp  $778,004 
 82,135      Anthem, Inc   10,787,611 
 190,260      Baxter International, Inc   9,136,285 
 79,378   *  Brookdale Senior Living, Inc   1,466,112 
 10,452      Cardinal Health, Inc   873,787 
 19,563   *  Centene Corp   1,380,170 
 72,541      Cigna Corp   9,354,887 
 4,389      Cooper Cos, Inc   800,861 
 43,356   *  DaVita, Inc   3,361,824 
 97,872      DENTSPLY SIRONA, Inc   6,267,723 
 12,725   *  Envision Healthcare Holdings, Inc   312,908 
 31,459   *  Express Scripts Holding Co   2,393,086 
 41,926   *  HCA Holdings, Inc   3,233,752 
 1,944      Hill-Rom Holdings, Inc   103,868 
 3,920      Humana, Inc   676,396 
 24,203   *  Laboratory Corp of America Holdings   3,377,771 
 17,253   *  LifePoint Hospitals, Inc   1,021,033 
 11,651   *  MEDNAX, Inc   802,870 
 600,823      Medtronic plc   52,650,119 
 15,680   *  Premier, Inc   512,736 
 60,322      Quest Diagnostics, Inc   5,209,408 
 36,044      St. Jude Medical, Inc   2,993,094 
 15,233      Teleflex, Inc   2,746,662 
 27,562      Universal Health Services, Inc (Class B)   3,570,106 
 1,456   *  WellCare Health Plans, Inc   155,501 
 36,585      Zimmer Holdings, Inc   4,797,757 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   171,497,623 
              
HOUSEHOLD & PERSONAL PRODUCTS - 2.9%     
 8,332      Clorox Co   1,092,075 
 306,147      Colgate-Palmolive Co   22,786,521 
 8,419   e  Coty, Inc   226,219 
 24,727      Edgewell Personal Care Co   2,092,151 
 17,692      Energizer Holdings, Inc   911,669 
 23,136      Kimberly-Clark Corp   2,997,269 
 16,630      Nu Skin Enterprises, Inc (Class A)   888,042 
 1,143,445      Procter & Gamble Co   97,867,458 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   128,861,404 
              
INSURANCE - 7.4%     
 171,859      Aflac, Inc   12,421,969 
 6,300   *  Alleghany Corp   3,424,050 
 36,366      Allied World Assurance Co Holdings Ltd   1,490,642 
 160,904      Allstate Corp   10,994,570 
 29,365      American Financial Group, Inc   2,146,581 
 474,308      American International Group, Inc   25,821,328 
 3,033      American National Insurance Co   346,824 
 34,584      Amtrust Financial Services, Inc   825,520 
 49,801   *  Arch Capital Group Ltd   3,617,047 
 22,844      Arthur J. Gallagher & Co   1,123,696 
 25,843      Aspen Insurance Holdings Ltd   1,187,744 
 26,205      Assurant, Inc   2,175,277 
 58,220      Assured Guaranty Ltd   1,559,714 
208

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 39,448      Axis Capital Holdings Ltd  $2,192,520 
 811,578   *  Berkshire Hathaway, Inc (Class B)   117,086,358 
 47,746      Brown & Brown, Inc   1,750,368 
 198,539      Chubb Ltd   24,868,995 
 63,942      Cincinnati Financial Corp   4,776,467 
 11,002      CNA Financial Corp   350,194 
 27,274      Endurance Specialty Holdings Ltd   1,844,541 
 3,521      Erie Indemnity Co (Class A)   343,966 
 18,130      Everest Re Group Ltd   3,426,751 
 46,131      First American Financial Corp   1,928,737 
 110,828      FNF Group   4,174,891 
 18,631      Hanover Insurance Group, Inc   1,534,077 
 166,529      Hartford Financial Services Group, Inc   6,636,181 
 78,541      Lincoln National Corp   3,429,885 
 119,468      Loews Corp   4,937,612 
 5,854   *  Markel Corp   5,553,982 
 11,853      Mercury General Corp   656,301 
 398,371      Metlife, Inc   17,026,377 
 100,379      Old Republic International Corp   1,945,345 
 113,911      Principal Financial Group   5,311,670 
 23,380      ProAssurance Corp   1,207,811 
 226,150      Progressive Corp   7,352,136 
 189,180      Prudential Financial, Inc   14,243,362 
 27,739      Reinsurance Group of America, Inc (Class A)   2,753,096 
 17,964      RenaissanceRe Holdings Ltd   2,111,129 
 50,532      Torchmark Corp   3,126,415 
 124,902      Travelers Cos, Inc   14,516,110 
 101,343      UnumProvident Corp   3,385,870 
 32,837      Validus Holdings Ltd   1,623,133 
 40,463      W.R. Berkley Corp   2,354,542 
 2,011      White Mountains Insurance Group Ltd   1,651,675 
 80,206      XL Group Ltd   2,775,930 
        TOTAL INSURANCE   334,011,389 
              
MATERIALS - 2.9%     
 11,137      Air Products & Chemicals, Inc   1,664,091 
 47,780      Albemarle Corp   4,021,643 
 563,954      Alcoa, Inc   5,989,192 
 19,820      Aptargroup, Inc   1,549,528 
 26,445      Ashland, Inc   2,994,632 
 2,589      Avery Dennison Corp   201,657 
 35,149      Bemis Co, Inc   1,794,005 
 26,087      Cabot Corp   1,270,176 
 56,651      Celanese Corp (Series A)   3,592,806 
 102,069      CF Industries Holdings, Inc   2,519,063 
 13,914   e  Compass Minerals International, Inc   968,275 
 26,299      Domtar Corp   1,035,392 
 480,633      Dow Chemical Co   25,795,573 
 62,867      Eastman Chemical Co   4,100,814 
 12,089      FMC Corp   574,711 
 422,489      Freeport-McMoRan Copper & Gold, Inc (Class B)   5,475,457 
 43,572      Graphic Packaging Holding Co   594,322 
 85,910      Huntsman Corp   1,328,169 
              
209

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 175,435      International Paper Co  $8,036,677 
 82,932      LyondellBasell Industries AF S.C.A   6,241,462 
 2,509      Martin Marietta Materials, Inc   508,449 
 65,479      Monsanto Co   6,991,193 
 147,715      Mosaic Co   3,988,305 
 207      NewMarket Corp   88,584 
 227,388      Newmont Mining Corp   10,005,072 
 136,147      Nucor Corp   7,302,925 
 73,606   *,e  Platform Specialty Products Corp   677,175 
 14,786      Praxair, Inc   1,723,160 
 29,834      Reliance Steel & Aluminum Co   2,340,179 
 25,935      Royal Gold, Inc   2,192,545 
 2,002      Scotts Miracle-Gro Co (Class A)   147,648 
 42,028      Sonoco Products Co   2,140,486 
 19,387   e  Southern Copper Corp (NY)   503,868 
 84,237      Steel Dynamics, Inc   2,259,236 
 127,936      Tahoe Resources, Inc   1,990,684 
 59,875   e  United States Steel Corp   1,645,964 
 3,782      Vulcan Materials Co   468,892 
 15,908      Westlake Chemical Corp   727,632 
 106,003      WestRock Co   4,548,589 
 13,035      WR Grace & Co   975,930 
        TOTAL MATERIALS   130,974,161 
              
MEDIA - 1.0%     
 6,781      Clear Channel Outdoor Holdings, Inc (Class A)   47,399 
 77,345      Comcast Corp (Class A)   5,201,451 
 5,855   *  Discovery Communications, Inc (Class A)   146,902 
 8,720   *  Discovery Communications, Inc (Class C)   213,989 
 20,929   *  DISH Network Corp (Class A)   1,118,027 
 19,794      John Wiley & Sons, Inc (Class A)   1,142,114 
 10,589   *  Liberty Broadband Corp (Class A)   665,095 
 44,179   *  Liberty Broadband Corp (Class C)   2,796,972 
 40,176   *  Liberty SiriusXM Group (Class A)   1,436,292 
 79,247   *  Liberty SiriusXM Group (Class C)   2,793,457 
 13,859   e  Lions Gate Entertainment Corp   277,041 
 23,371   *  Live Nation, Inc   640,833 
 7,264   *  Madison Square Garden Co   1,327,787 
 157,378      News Corp   2,041,193 
 48,903      News Corp (Class B)   657,256 
 24,000   e  Regal Entertainment Group (Class A)   564,480 
 90,722      TEGNA, Inc   1,986,812 
 128,903      Thomson Corp   5,428,105 
 115,468      Time Warner, Inc   8,850,622 
 29,650      Tribune Co   1,098,533 
 106,163      Twenty-First Century Fox, Inc   2,828,182 
 45,958      Twenty-First Century Fox, Inc (Class B)   1,242,245 
 1,631      Viacom, Inc   80,963 
 16,888      Viacom, Inc (Class B)   767,897 
        TOTAL MEDIA   43,353,647 
              
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.6%     
 102,645      Agilent Technologies, Inc   4,938,251 
              
210

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 69,094   *  Allergan plc  $17,477,327 
 4,490   *,e  Alnylam Pharmaceuticals, Inc   305,679 
 8,668   *  Bio-Rad Laboratories, Inc (Class A)   1,257,640 
 87,832   *  Endo International plc   1,524,763 
 975,220      Johnson & Johnson   122,126,801 
 3,804   *,e  Juno Therapeutics, Inc   117,658 
 47,443   *  Mallinckrodt plc   3,194,812 
 1,189,234      Merck & Co, Inc   69,760,466 
 133,880   *  Mylan NV   6,264,245 
 11,324   *,e  Opko Health, Inc   112,674 
 37,116      PerkinElmer, Inc   2,112,643 
 58,621      Perrigo Co plc   5,357,373 
 2,398,567      Pfizer, Inc   88,483,137 
 95,650   *  Qiagen NV (NASDAQ)   2,563,420 
 12,519   *  Quintiles Transnational Holdings, Inc   971,975 
 91,407      Thermo Electron Corp   14,519,088 
 13,498   *  United Therapeutics Corp   1,633,393 
 30,412   *  VWR Corp   952,504 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   343,673,849 
              
REAL ESTATE - 5.7%     
 28,129      Alexandria Real Estate Equities, Inc   3,158,887 
 54,978      American Campus Communities, Inc   2,972,660 
 142,156      American Capital Agency Corp   2,784,836 
 72,762      American Homes 4 Rent   1,578,935 
 436,083      Annaly Capital Management, Inc   4,788,191 
 67,317      Apartment Investment & Management Co (Class A)   3,094,563 
 68,143      Apple Hospitality REIT, Inc   1,388,073 
 58,683      AvalonBay Communities, Inc   10,894,499 
 54,471      Boston Properties, Inc   7,741,963 
 75,365      Brandywine Realty Trust   1,271,408 
 83,429      Brixmor Property Group, Inc   2,369,384 
 36,666      Camden Property Trust   3,284,907 
 31,446      Care Capital Properties, Inc   930,173 
 81,032      Chimera Investment Corp   1,359,717 
 53,695      Columbia Property Trust, Inc   1,304,789 
 52,080      Communications Sales & Leasing, Inc   1,618,646 
 40,100      Corporate Office Properties Trust   1,201,396 
 51,046      Corrections Corp of America   1,636,024 
 16,186      Crown Castle International Corp   1,570,528 
 25,208      CubeSmart   748,930 
 4,511      CyrusOne, Inc   247,293 
 38,573      DCT Industrial Trust, Inc   1,937,136 
 133,887      DDR Corp   2,642,929 
 18,999      Digital Realty Trust, Inc   1,984,636 
 61,202      Douglas Emmett, Inc   2,328,124 
 147,872      Duke Realty Corp   4,257,235 
 20,251      Empire State Realty Trust, Inc   425,069 
 26,955      Entertainment Properties Trust   2,264,759 
 55,184   *  Equity Commonwealth   1,656,624 
 38,001      Equity One, Inc   1,264,293 
 151,384      Equity Residential   10,292,598 
 16,149      Essex Property Trust, Inc   3,776,928 
              
211

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES       COMPANY  VALUE 
               
 99,131       Forest City Realty Trust, Inc  $2,344,448 
 244,969       General Growth Properties, Inc   7,826,760 
 200,467       HCP, Inc   7,864,320 
 14,906       Healthcare Trust of America, Inc   507,549 
 40,734       Highwoods Properties, Inc   2,269,698 
 65,420       Hospitality Properties Trust   2,087,552 
 309,761       Host Marriott Corp   5,495,160 
 15,676  *   Howard Hughes Corp   1,872,655 
 19,439       Jones Lang LaSalle, Inc   2,127,987 
 39,171       Kilroy Realty Corp   2,867,709 
 170,447       Kimco Realty Corp   5,471,349 
 62,029       Liberty Property Trust   2,566,760 
 61,893       Macerich Co   5,523,331 
 162,036       MFA Mortgage Investments, Inc   1,218,511 
 32,521       Mid-America Apartment Communities, Inc   3,447,876 
 60,821       National Retail Properties, Inc   3,233,244 
 81,814       NorthStar Realty Finance Corp   1,096,308 
 48,651       Omega Healthcare Investors, Inc   1,678,460 
 48,079       Outfront Media, Inc   1,118,798 
 74,729       Paramount Group, Inc   1,317,472 
 60,783       Piedmont Office Realty Trust, Inc   1,333,579 
 23,146       Post Properties, Inc   1,471,854 
 221,743       Prologis, Inc   12,082,776 
 51,429       Rayonier, Inc   1,399,897 
 60,051  *   Realogy Holdings Corp   1,860,981 
 109,972       Realty Income Corp   7,859,699 
 35,364       Regency Centers Corp   3,003,465 
 100,203       Retail Properties of America, Inc   1,766,579 
 86,226       Senior Housing Properties Trust   1,915,079 
 12,548       Simon Property Group, Inc   2,848,898 
 41,943       SL Green Realty Corp   4,941,724 
 7,016       Sovran Self Storage, Inc   718,228 
 200,760       Spirit Realty Capital, Inc   2,744,389 
 100,048       Starwood Property Trust, Inc   2,181,046 
 64,705       STORE Capital Corp   2,018,149 
 26,598       Sun Communities, Inc   2,105,232 
 3,714       Tanger Factory Outlet Centers, Inc   155,022 
 12,245       Taubman Centers, Inc   990,865 
 148,256       Two Harbors Investment Corp   1,297,240 
 114,117       UDR, Inc   4,248,576 
 98,502       Ventas, Inc   7,501,912 
 387,775       VEREIT, Inc   4,288,792 
 73,592       Vornado Realty Trust   7,903,781 
 50,800       Weingarten Realty Investors   2,194,052 
 152,111       Welltower, Inc   12,066,966 
 316,090       Weyerhaeuser Co   10,342,465 
 42,991       WP Carey, Inc   3,123,296 
         TOTAL REAL ESTATE   255,076,622 
               
RETAILING - 1.3%     
 17,143    *   Autonation, Inc   914,579 
 57,659    *   Bed Bath & Beyond, Inc   2,591,772 
 118,828       Best Buy Co, Inc   3,992,621 
               
212

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 13,273   *  Burlington Stores, Inc  $1,015,517 
 19,510   *  Cabela's, Inc   1,007,301 
 32,000      CST Brands, Inc   1,431,040 
 8,555      Dick's Sporting Goods, Inc   438,786 
 8,960   e  Dillard's, Inc (Class A)   606,413 
 6,227      Foot Locker, Inc   371,254 
 45,203   e  GameStop Corp (Class A)   1,399,033 
 91,309   e  Gap, Inc   2,354,859 
 3,706      Genuine Parts Co   378,901 
 131,875   *,e  JC Penney Co, Inc   1,273,913 
 78,040      Kohl's Corp   3,245,684 
 83,866      L Brands, Inc   6,197,697 
 83,642   *  Liberty Interactive Corp   2,242,442 
 46,907   *  Liberty Ventures   1,768,863 
 130,833      Macy's, Inc   4,687,746 
 9,768   *  Michaels Cos, Inc   257,484 
 6,358   *  Murphy USA, Inc   487,277 
 17,043      Penske Auto Group, Inc   675,244 
 2,825      Signet Jewelers Ltd   248,346 
 278,300      Staples, Inc   2,585,407 
 225,300      Target Corp   16,971,849 
 46,258   e  Tiffany & Co   2,984,566 
 8,199   *  Urban Outfitters, Inc   245,150 
        TOTAL RETAILING   60,373,744 
              
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.0%     
 131,817      Analog Devices, Inc   8,413,879 
 131,610      Applied Materials, Inc   3,460,027 
 26,624   *,e  Cree, Inc   761,446 
 132,641   e  Cypress Semiconductor Corp   1,543,941 
 33,181   *,e  First Solar, Inc   1,548,889 
 1,846,235      Intel Corp   64,359,752 
 13,324      Lam Research Corp   1,196,096 
 53,599      Linear Technology Corp   3,215,404 
 167,068      Marvell Technology Group Ltd   1,963,049 
 444,413   *  Micron Technology, Inc   6,106,235 
 157,307   *  ON Semiconductor Corp   1,577,789 
 48,777   *  Qorvo, Inc   3,084,170 
 500,036      Qualcomm, Inc   31,292,253 
 6,454      Skyworks Solutions, Inc   426,093 
 26,446   *,e  SunPower Corp   385,583 
 88,155      Teradyne, Inc   1,741,061 
 74,840      Xilinx, Inc   3,822,827 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   134,898,494 
              
SOFTWARE & SERVICES - 2.7%     
 7,955   *  Akamai Technologies, Inc   401,966 
 63,863      Amdocs Ltd   3,727,045 
 27,958   *  Ansys, Inc   2,498,327 
 16,388   *  Autodesk, Inc   974,267 
 2,534      Booz Allen Hamilton Holding Co   78,250 
 124,568      CA, Inc   4,316,281 
 9,381   *,e  CommerceHub, Inc   131,340 
213

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
 4,691   *,e  CommerceHub, Inc (Series A)  $66,139 
 59,680      Computer Sciences Corp   2,854,494 
 60,139      Fidelity National Information Services, Inc   4,782,855 
 51,139   *,e  FireEye, Inc   890,841 
 15,499   *  First American Corp   624,300 
 6,315      IAC/InterActiveCorp   366,017 
 118,324      International Business Machines Corp   19,005,201 
 27,166   e  Leidos Holdings, Inc   1,358,572 
 22,428   *  Nuance Communications, Inc   360,418 
 1,145,221      Oracle Corp   46,999,870 
 12,922   *,e  Pandora Media, Inc   175,739 
 25,879   *  PTC, Inc   1,028,173 
 5,970      SS&C Technologies Holdings, Inc   192,353 
 224,682      Symantec Corp   4,590,253 
 57,769   *  Synopsys, Inc   3,128,769 
 33,155   *,e  Twitter, Inc   551,699 
 24,241   *,e  VMware, Inc (Class A)   1,769,108 
 425,016      Xerox Corp   4,377,665 
 370,970   *  Yahoo!, Inc   14,167,344 
 9,226   *  Yelp, Inc   296,801 
 7,273   *  Zillow Group, Inc   286,629 
 13,572   *,e  Zillow Group, Inc (Class C)   532,701 
 309,282   *  Zynga, Inc   887,639 
        TOTAL SOFTWARE & SERVICES   121,421,056 
              
TECHNOLOGY HARDWARE & EQUIPMENT - 4.1%     
 197,299      Apple, Inc   20,560,529 
 61,467   *  ARRIS International plc   1,674,361 
 38,556   *  Arrow Electronics, Inc   2,563,588 
 55,153      Avnet, Inc   2,266,788 
 199,160      Brocade Communications Systems, Inc   1,852,188 
 2,160,589      Cisco Systems, Inc   65,962,782 
 458,931      Corning, Inc   10,197,447 
 21,778      Dolby Laboratories, Inc (Class A)   1,095,651 
 18,607   *  EchoStar Corp (Class A)   724,743 
 746,383      EMC Corp   21,107,711 
 12,854   *,e  Fitbit, Inc   175,586 
 57,786      Flir Systems, Inc   1,882,668 
 53,348      Harris Corp   4,621,004 
 739,814      Hewlett Packard Enterprise Co   15,550,890 
 739,431      HP, Inc   10,359,428 
 62,038      Ingram Micro, Inc (Class A)   2,124,181 
 2,192   *  IPG Photonics Corp   184,764 
 79,905      Jabil Circuit, Inc   1,626,067 
 160,825      Juniper Networks, Inc   3,649,119 
 72,163   *  Keysight Technologies, Inc   2,110,046 
 25,911      Lexmark International, Inc (Class A)   950,156 
 66,746      Motorola, Inc   4,630,838 
 9,063      National Instruments Corp   259,927 
 122,563      NetApp, Inc   3,229,535 
 21,847   *  Trimble Navigation Ltd   577,635 
 120,416      Western Digital Corp   5,720,964 
 4,548   *  Zebra Technologies Corp (Class A)   241,090 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   185,899,686 
214

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES      COMPANY  VALUE 
              
TELECOMMUNICATION SERVICES - 4.1%     
 2,642,785      AT&T, Inc  $114,406,163 
 230,586      CenturyTel, Inc   7,249,624 
 493,435   e  Frontier Communications Corp   2,565,862 
 124,849   *  Level 3 Communications, Inc   6,317,359 
 19,478   *  SBA Communications Corp (Class A)   2,239,970 
 328,576   *  Sprint Corp   2,017,456 
 40,559      Telephone & Data Systems, Inc   1,277,203 
 46,682   *  T-Mobile US, Inc   2,163,244 
 6,024   *  US Cellular Corp   243,671 
 875,885      Verizon Communications, Inc   48,532,788 
        TOTAL TELECOMMUNICATION SERVICES   187,013,340 
              
TRANSPORTATION - 2.0%     
 8,703      Alaska Air Group, Inc   585,016 
 957      Amerco, Inc   378,503 
 247,912      American Airlines Group, Inc   8,800,876 
 14,138   e  Copa Holdings S.A. (Class A)   947,246 
 408,780      CSX Corp   11,580,737 
 72,202      Delta Air Lines, Inc   2,797,828 
 23,941      Expeditors International of Washington, Inc   1,183,404 
 23,479   *  Genesee & Wyoming, Inc (Class A)   1,520,265 
 26,152   *  Hertz Global Holdings, Inc   1,273,079 
 126,892   *  JetBlue Airways Corp   2,325,930 
 46,395      Kansas City Southern Industries, Inc   4,459,024 
 22,670   *  Kirby Corp   1,235,288 
 31,199      Macquarie Infrastructure Co LLC   2,391,403 
 126,380      Norfolk Southern Corp   11,346,396 
 11,763   *  Old Dominion Freight Line   819,411 
 22,785      Ryder System, Inc   1,501,532 
 30,661   *  Spirit Airlines, Inc   1,310,758 
 305,427      Union Pacific Corp   28,419,982 
 143,271   *  United Continental Holdings, Inc   6,717,977 
        TOTAL TRANSPORTATION   89,594,655 
              
UTILITIES - 6.9%     
 282,290      AES Corp   3,486,281 
 97,955      Alliant Energy Corp   3,942,689 
 103,394      Ameren Corp   5,421,981 
 211,370      American Electric Power Co, Inc   14,647,941 
 76,422      American Water Works Co, Inc   6,310,929 
 76,040      Aqua America, Inc   2,634,026 
 43,316      Atmos Energy Corp   3,456,184 
 23,663      Avangrid, Inc   1,068,148 
 151,913   *  Calpine Corp   2,087,285 
 183,035      Centerpoint Energy, Inc   4,378,197 
 119,154      CMS Energy Corp   5,383,378 
 131,187      Consolidated Edison, Inc   10,505,455 
 247,982      Dominion Resources, Inc   19,347,556 
 77,019      DTE Energy Co   7,510,893 
 295,434      Duke Energy Corp   25,286,196 
215

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES       COMPANY             VALUE 
                         
 135,464      Edison International             $10,482,204 
 76,212      Entergy Corp              6,202,895 
 136,124      Eversource Energy              7,961,893 
 378,460      Exelon Corp              14,108,989 
 181,179      FirstEnergy Corp              6,326,771 
 66,011      Great Plains Energy, Inc              1,965,807 
 47,216   *  Hawaiian Electric Industries, Inc              1,466,057 
 32,675      ITC Holdings Corp              1,511,219 
 81,843      MDU Resources Group, Inc              1,968,324 
 32,243      National Fuel Gas Co              1,822,052 
 197,315      NextEra Energy, Inc              25,313,541 
 135,777      NiSource, Inc              3,484,038 
 133,506      NRG Energy, Inc              1,847,723 
 84,847      OGE Energy Corp              2,729,528 
 212,026      PG&E Corp              13,556,942 
 31,744      Piedmont Natural Gas Co, Inc              1,898,291 
 47,838      Pinnacle West Capital Corp              3,772,983 
 288,545      PPL Corp              10,881,032 
 217,634      Public Service Enterprise Group, Inc              10,013,340 
 74,870      Questar Corp              1,884,478 
 56,076      SCANA Corp              4,202,335 
 107,158      Sempra Energy              11,988,837 
 403,750      Southern Co              21,600,625 
 73,452      UGI Corp              3,324,437 
 36,189      Vectren Corp              1,872,057 
 135,257      WEC Energy Group, Inc              8,779,532 
 61,740      Westar Energy, Inc              3,430,892 
 218,691      Xcel Energy, Inc              9,618,029 
        TOTAL UTILITIES              309,481,990 
                         
        TOTAL COMMON STOCKS              4,492,222,119 
        (Cost $4,028,069,585)                
                         
PRINCIPAL       ISSUER   RATE  MATURITY
DATE		      
SHORT-TERM INVESTMENTS - 2.0%
GOVERNMENT AGENCY DEBT - 0.6%
$ 28,950,000     d   Federal Home Loan Bank (FHLB)     0.090 %  08/01/16    28,950,000 
        TOTAL GOVERNMENT AGENCY DEBT              28,950,000 
216

TIAA-CREF FUNDS - Large-Cap Value Index Fund

 

SHARES        COMPANY            VALUE  
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.4%
  60,585,742   c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		  $60,585,742 
        TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   60,585,742 
                         
        TOTAL SHORT-TERM INVESTMENTS              89,535,742 
        (Cost $89,535,742)                
        TOTAL INVESTMENTS - 101.6%              4,581,757,861 
        (Cost $4,117,605,327)                
        OTHER ASSETS & LIABILITIES, NET - (1.6)%              (70,517,200)
        NET ASSETS - 100.0%             $4,511,240,661 
      
      
   Abbreviation(s):
   REIT  Real Estate Investment Trust
      
*  Non-income producing
c  Investments made with cash collateral received from securities on loan.
d  All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e  All or a portion of these securities are out on loan. The aggregate value of securities on loan is $59,728,887.
217

TIAA-CREF FUNDS - S&P 500 Index Fund

 

TIAA-CREF FUNDS

S&P 500 INDEX FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
              
COMMON STOCKS - 99.2%
              
AUTOMOBILES & COMPONENTS - 0.9%
 38,748      BorgWarner, Inc  $1,285,659 
 46,932      Delphi Automotive plc   3,182,928 
 683,941      Ford Motor Co   8,658,693 
 247,005      General Motors Co   7,790,538 
 46,617      Goodyear Tire & Rubber Co   1,336,509 
 30,605   e  Harley-Davidson, Inc   1,619,617 
 110,838      Johnson Controls, Inc   5,089,681 
        TOTAL AUTOMOBILES & COMPONENTS   28,963,625 
              
BANKS - 5.2%
 1,797,182      Bank of America Corp   26,041,167 
 139,765      BB&T Corp   5,153,136 
 511,582      Citigroup, Inc   22,412,407 
 88,002      Citizens Financial Group, Inc   1,965,085 
 29,301      Comerica, Inc   1,325,577 
 129,084      Fifth Third Bancorp   2,450,014 
 136,761      Huntington Bancshares, Inc   1,299,230 
 640,981      JPMorgan Chase & Co   41,003,555 
 184,116      Keycorp   2,154,157 
 27,471      M&T Bank Corp   3,147,078 
 64,732      People’s United Financial, Inc   981,337 
 88,318      PNC Financial Services Group, Inc   7,299,483 
 213,654      Regions Financial Corp   1,959,207 
 84,991      SunTrust Banks, Inc   3,594,269 
 284,653      US Bancorp   12,003,817 
 805,031      Wells Fargo & Co   38,617,337 
 41,850      Zions Bancorporation   1,166,778 
        TOTAL BANKS   172,573,634 
              
CAPITAL GOODS - 7.3%
 105,835      3M Co   18,876,731 
 7,558      Acuity Brands, Inc   1,983,446 
 16,391      Allegion plc   1,186,544 
 39,447      Ametek, Inc   1,855,192 
 104,481      Boeing Co   13,964,930 
 101,610      Caterpillar, Inc   8,409,244 
 27,484      Cummins, Inc   3,374,211 
 102,386      Danaher Corp   8,338,316 
 51,144      Deere & Co   3,974,400 
 26,877      Dover Corp   1,919,824 
 79,870      Eaton Corp   5,064,557 
 112,272      Emerson Electric Co   6,276,005 
 49,218      Fastenal Co   2,104,070 
 23,098      Flowserve Corp   1,105,239 
 24,567      Fluor Corp   1,314,826 
218

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES      COMPANY  VALUE 
              
 55,171   *  Fortive Corp  $2,659,794 
 26,242      Fortune Brands Home & Security, Inc   1,660,331 
 49,442      General Dynamics Corp   7,262,535 
 1,610,590      General Electric Co   50,153,773 
 132,389      Honeywell International, Inc   15,400,812 
 55,591      Illinois Tool Works, Inc   6,415,201 
 43,718      Ingersoll-Rand plc   2,896,755 
 21,262   *  Jacobs Engineering Group, Inc   1,137,942 
 13,359      L-3 Communications Holdings, Inc   2,025,625 
 45,687      Lockheed Martin Corp   11,546,476 
 56,716      Masco Corp   2,069,000 
 31,922      Northrop Grumman Corp   6,915,263 
 61,134      Paccar, Inc   3,605,072 
 22,729      Parker Hannifin Corp   2,595,425 
 32,666      Pentair plc   2,084,744 
 31,924   *  Quanta Services, Inc   817,254 
 52,495      Raytheon Co   7,324,627 
 22,115      Rockwell Automation, Inc   2,529,956 
 22,487      Rockwell Collins, Inc   1,902,850 
 17,679      Roper Industries, Inc   3,011,794 
 9,624      Snap-On, Inc   1,512,604 
 25,592      Stanley Works   3,114,546 
 46,274      Textron, Inc   1,804,686 
 9,530   *  TransDigm Group, Inc   2,663,826 
 15,313   *  United Rentals, Inc   1,219,987 
 134,652      United Technologies Corp   14,495,288 
 10,455   e  W.W. Grainger, Inc   2,288,077 
 34,463      Xylem, Inc   1,647,676 
        TOTAL CAPITAL GOODS   242,509,454 
              
COMMERCIAL & PROFESSIONAL SERVICES - 0.7%
 16,637      Cintas Corp   1,784,651 
 7,393      Dun & Bradstreet Corp   955,545 
 20,110      Equifax, Inc   2,663,771 
 61,781      Nielsen NV   3,327,525 
 41,616      Pitney Bowes, Inc   803,605 
 40,791      Republic Services, Inc   2,090,947 
 26,938      Robert Half International, Inc   984,314 
 16,170   *  Stericycle, Inc   1,459,666 
 76,139      Tyco International plc   3,469,654 
 28,185   *  Verisk Analytics, Inc   2,403,617 
 71,313      Waste Management, Inc   4,715,215 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   24,658,510 
              
CONSUMER DURABLES & APPAREL - 1.4%
 47,614      Coach, Inc   2,052,639 
 56,290      DR Horton, Inc   1,850,815 
 20,491   *,e  Garmin Ltd   1,113,276 
 65,742      Hanesbrands, Inc   1,752,682 
 12,428      Harman International Industries, Inc   1,027,050 
 19,164      Hasbro, Inc   1,556,692 
 22,714      Leggett & Platt, Inc   1,194,075 
 32,517      Lennar Corp (Class A)   1,521,796 
219

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES      COMPANY  VALUE 
              
 58,094      Mattel, Inc  $1,939,178 
 31,734   *  Michael Kors Holdings Ltd   1,641,282 
 10,789   *  Mohawk Industries, Inc   2,254,254 
 79,661      Newell Brands, Inc   4,179,016 
 233,262      Nike, Inc (Class B)   12,946,041 
 14,172      Phillips-Van Heusen Corp   1,432,222 
 54,469      Pulte Homes, Inc   1,153,653 
 10,903      Ralph Lauren Corp   1,069,475 
 31,975   *  Under Armour, Inc   1,141,507 
 31,624   *,e  Under Armour, Inc (Class A)   1,247,883 
 57,178      VF Corp   3,569,623 
 13,241      Whirlpool Corp   2,547,039 
        TOTAL CONSUMER DURABLES & APPAREL   47,190,198 
              
CONSUMER SERVICES - 1.7%
 75,462      Carnival Corp   3,525,585 
 5,339   *  Chipotle Mexican Grill, Inc (Class A)   2,263,683 
 19,880      Darden Restaurants, Inc   1,223,813 
 38,399      H&R Block, Inc   913,512 
 33,522   e  Marriott International, Inc (Class A)   2,403,527 
 152,726      McDonald’s Corp   17,968,214 
 29,367      Royal Caribbean Cruises Ltd   2,127,345 
 256,512      Starbucks Corp   14,890,522 
 28,639      Starwood Hotels & Resorts Worldwide, Inc   2,235,560 
 18,778      Wyndham Worldwide Corp   1,333,614 
 14,597   e  Wynn Resorts Ltd   1,429,776 
 69,839      Yum! Brands, Inc   6,245,003 
        TOTAL CONSUMER SERVICES   56,560,154 
              
DIVERSIFIED FINANCIALS - 3.4%
 9,124   *  Affiliated Managers Group, Inc   1,339,221 
 142,465      American Express Co   9,183,294 
 27,743      Ameriprise Financial, Inc   2,658,889 
 183,640      Bank of New York Mellon Corp   7,235,416 
 21,553      BlackRock, Inc   7,893,786 
 88,357      Capital One Financial Corp   5,926,988 
 209,959      Charles Schwab Corp   5,967,035 
 60,204      CME Group, Inc   6,155,257 
 70,532      Discover Financial Services   4,009,039 
 48,190   *  E*TRADE Financial Corp   1,208,605 
 67,071      Franklin Resources, Inc   2,427,299 
 68,099      Goldman Sachs Group, Inc   10,814,802 
 20,555      IntercontinentalExchange Group, Inc   5,430,631 
 71,104      Invesco Ltd   2,074,815 
 23,685      Legg Mason, Inc   808,606 
 67,259      Leucadia National Corp   1,228,149 
 28,708      Moody’s Corp   3,043,335 
 260,876      Morgan Stanley   7,494,967 
 22,310      NASDAQ OMX Group, Inc   1,578,656 
 56,406      Navient Corp   800,965 
 36,156      Northern Trust Corp   2,443,784 
 46,184      S&P Global, Inc   5,643,685 
 27,558      SPDR Trust Series 1   5,984,220 
220

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES      COMPANY  VALUE 
              
 67,523      State Street Corp  $4,441,663 
 145,663   *  Synchrony Financial   4,061,084 
 43,026      T Rowe Price Group, Inc   3,041,508 
        TOTAL DIVERSIFIED FINANCIALS   112,895,699 
              
ENERGY - 6.9%
 88,984      Anadarko Petroleum Corp   4,852,297 
 65,443      Apache Corp   3,435,757 
 75,096      Baker Hughes, Inc   3,591,842 
 81,368      Cabot Oil & Gas Corp   2,007,349 
 103,462   *,e  Chesapeake Energy Corp   560,764 
 329,016      Chevron Corp   33,717,559 
 16,227      Cimarex Energy Co   1,947,565 
 22,313   *  Concho Resources, Inc   2,771,275 
 214,208      ConocoPhillips   8,743,971 
 91,811   *  Devon Energy Corp   3,514,525 
 11,255   e  Diamond Offshore Drilling, Inc   255,714 
 96,141      EOG Resources, Inc   7,854,720 
 29,579      EQT Corp   2,155,126 
 724,918   d  Exxon Mobil Corp   64,481,456 
 40,285   *  FMC Technologies, Inc   1,022,433 
 149,072      Halliburton Co   6,508,483 
 18,816   e  Helmerich & Payne, Inc   1,166,028 
 45,936      Hess Corp   2,464,466 
 318,363      Kinder Morgan, Inc   6,472,320 
 150,273      Marathon Oil Corp   2,049,724 
 92,685      Marathon Petroleum Corp   3,650,862 
 30,140   e  Murphy Oil Corp   826,740 
 64,669      National Oilwell Varco, Inc   2,092,042 
 34,128   *  Newfield Exploration Co   1,477,742 
 73,163      Noble Energy, Inc   2,613,382 
 134,192      Occidental Petroleum Corp   10,028,168 
 37,744      Oneok, Inc   1,690,554 
 81,149      Phillips 66   6,172,193 
 28,526      Pioneer Natural Resources Co   4,637,472 
 29,799      Range Resources Corp   1,201,198 
 243,140      Schlumberger Ltd   19,577,633 
 86,251   *,e  Southwestern Energy Co   1,257,540 
 119,385      Spectra Energy Corp   4,294,278 
 20,471      Tesoro Corp   1,558,867 
 64,685   e  Transocean Ltd (NYSE)   710,888 
 82,130      Valero Energy Corp   4,293,756 
 120,020      Williams Cos, Inc   2,876,879 
        TOTAL ENERGY   228,533,568 
              
FOOD & STAPLES RETAILING - 2.2%
 76,498      Costco Wholesale Corp   12,791,996 
 186,741      CVS Health Corp   17,314,625 
 166,308      Kroger Co   5,686,070 
 91,437      Sysco Corp   4,735,522 
 151,016      Walgreens Boots Alliance, Inc   11,968,018 
 268,046      Wal-Mart Stores, Inc   19,559,317 
 55,720      Whole Foods Market, Inc   1,698,346 
         TOTAL FOOD & STAPLES RETAILING   73,753,894 
221

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES       COMPANY  VALUE 
               
FOOD, BEVERAGE & TOBACCO - 5.7%
 340,704       Altria Group, Inc  $23,065,661 
 101,593       Archer Daniels Midland Co   4,579,812 
 17,708       Brown-Forman Corp (Class B)   1,738,749 
 30,687       Campbell Soup Co   1,910,879 
 680,998       Coca-Cola Co   29,711,943 
 74,139       ConAgra Foods, Inc   3,466,740 
 30,699       Constellation Brands, Inc (Class A)   5,053,976 
 32,411       Dr Pepper Snapple Group, Inc   3,192,808 
 103,440       General Mills, Inc   7,436,302 
 23,915       Hershey Co   2,648,825 
 46,468       Hormel Foods Corp   1,735,580 
 20,871       J.M. Smucker Co   3,217,473 
 43,998       Kellogg Co   3,639,075 
 104,243       Kraft Heinz Co   9,005,553 
 20,221       McCormick & Co, Inc   2,067,597 
 32,547       Mead Johnson Nutrition Co   2,903,192 
 32,140       Molson Coors Brewing Co (Class B)   3,283,422 
 271,858       Mondelez International, Inc   11,956,315 
 24,937    *  Monster Beverage Corp   4,005,630 
 252,128       PepsiCo, Inc   27,461,782 
 270,015       Philip Morris International, Inc   27,071,704 
 145,464       Reynolds American, Inc   7,281,928 
 52,475       Tyson Foods, Inc (Class A)   3,862,160 
         TOTAL FOOD, BEVERAGE & TOBACCO   190,297,106 
               
HEALTH CARE EQUIPMENT & SERVICES - 5.3%
 254,869       Abbott Laboratories   11,405,388 
 61,958       Aetna Inc   7,138,181 
 31,581       AmerisourceBergen Corp   2,690,385 
 46,828       Anthem, Inc   6,150,389 
 12,820       Bard (C.R.), Inc   2,868,219 
 94,412       Baxter International, Inc   4,533,664 
 36,239       Becton Dickinson & Co   6,378,064 
 242,193    *  Boston Scientific Corp   5,880,446 
 56,078       Cardinal Health, Inc   4,688,121 
 29,443    *  Centene Corp   2,077,204 
 54,894    *  Cerner Corp   3,424,837 
 44,774       Cigna Corp   5,774,055 
 28,270    *  DaVita, Inc   2,192,056 
 41,203       DENTSPLY SIRONA, Inc   2,638,640 
 36,587    *  Edwards Lifesciences Corp   4,189,943 
 110,562    *  Express Scripts Holding Co   8,410,451 
 52,375    *  HCA Holdings, Inc   4,039,684 
 15,093    *  Henry Schein, Inc   2,731,531 
 46,035    *  Hologic, Inc   1,771,887 
 25,995       Humana, Inc   4,485,437 
 6,641    *  Intuitive Surgical, Inc   4,620,542 
 18,637    *  Laboratory Corp of America Holdings   2,600,980 
 39,268       McKesson Corp   7,639,982 
 246,443       Medtronic plc   21,595,800 
222

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES       COMPANY  VALUE 
               
 17,705       Patterson Cos, Inc  $873,919 
 24,358       Quest Diagnostics, Inc   2,103,557 
 50,280       St. Jude Medical, Inc   4,175,251 
 53,527       Stryker Corp   6,224,120 
 165,909       UnitedHealth Group, Inc   23,758,169 
 15,418       Universal Health Services, Inc (Class B)   1,997,094 
 18,435    *  Varian Medical Systems, Inc   1,746,532 
 34,758       Zimmer Holdings, Inc   4,558,164 
         TOTAL HEALTH CARE EQUIPMENT & SERVICES   175,362,692 
               
HOUSEHOLD & PERSONAL PRODUCTS - 2.1%
 22,986       Church & Dwight Co, Inc   2,258,145 
 22,196       Clorox Co   2,909,230 
 154,424       Colgate-Palmolive Co   11,493,778 
 38,849       Estee Lauder Cos (Class A)   3,609,072 
 62,390       Kimberly-Clark Corp   8,082,624 
 466,649       Procter & Gamble Co   39,940,488 
         TOTAL HOUSEHOLD & PERSONAL PRODUCTS   68,293,337 
               
INSURANCE - 4.0%
 71,734       Aflac, Inc   5,184,934 
 66,412       Allstate Corp   4,537,932 
 192,720       American International Group, Inc   10,491,677 
 47,013       Aon plc   5,033,682 
 29,917       Arthur J. Gallagher & Co   1,471,617 
 12,545       Assurant, Inc   1,041,360 
 327,242    *  Berkshire Hathaway, Inc (Class B)   47,211,203 
 81,594       Chubb Ltd   10,220,464 
 26,097       Cincinnati Financial Corp   1,949,446 
 66,328       Hartford Financial Services Group, Inc   2,643,171 
 40,303       Lincoln National Corp   1,760,032 
 46,929       Loews Corp   1,939,576 
 89,039       Marsh & McLennan Cos, Inc   5,854,314 
 191,674       Metlife, Inc   8,192,147 
 45,366       Principal Financial Group   2,115,417 
 105,341       Progressive Corp   3,424,636 
 76,174       Prudential Financial, Inc   5,735,140 
 21,101       Torchmark Corp   1,305,519 
 50,070       Travelers Cos, Inc   5,819,135 
 45,196       UnumProvident Corp   1,509,998 
 23,633       Willis Towers Watson plc   2,921,512 
 47,822       XL Group Ltd   1,655,119 
         TOTAL INSURANCE   132,018,031 
               
MATERIALS - 2.9%
 33,165       Air Products & Chemicals, Inc   4,955,514 
 19,665       Albemarle Corp   1,655,203 
 231,454       Alcoa, Inc   2,458,042 
 15,387       Avery Dennison Corp   1,198,494 
 29,911       Ball Corp   2,113,810 
 42,843       CF Industries Holdings, Inc   1,057,365 
 196,442       Dow Chemical Co   10,543,042 
 25,241       Eastman Chemical Co   1,646,470 
223

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES       COMPANY  VALUE 
               
 45,360       Ecolab, Inc  $5,369,717 
 152,575       EI du Pont de Nemours & Co   10,553,613 
 22,610       FMC Corp   1,074,879 
 222,023       Freeport-McMoRan Copper & Gold, Inc (Class B)   2,877,418 
 13,632       International Flavors & Fragrances, Inc   1,816,464 
 72,469       International Paper Co   3,319,805 
 60,888       LyondellBasell Industries AF S.C.A   4,582,431 
 10,828       Martin Marietta Materials, Inc   2,194,294 
 76,226       Monsanto Co   8,138,650 
 62,329       Mosaic Co   1,682,883 
 93,276       Newmont Mining Corp   4,104,144 
 53,897       Nucor Corp   2,891,035 
 28,333    *  Owens-Illinois, Inc   532,377 
 46,496       PPG Industries, Inc   4,868,596 
 49,079       Praxair, Inc   5,719,667 
 34,386       Sealed Air Corp   1,622,332 
 13,726       Sherwin-Williams Co   4,114,094 
 22,741       Vulcan Materials Co   2,819,429 
 43,099       WestRock Co   1,849,378 
         TOTAL MATERIALS   95,759,146 
               
MEDIA - 2.6%
 71,327       CBS Corp (Class B)   3,724,696 
 422,785       Comcast Corp (Class A)   28,432,291 
 31,504    *  Discovery Communications, Inc (Class A)   790,435 
 39,790    *  Discovery Communications, Inc (Class C)   976,447 
 68,134       Interpublic Group of Cos, Inc   1,571,170 
 65,064       News Corp   843,880 
 16,576       News Corp (Class B)   222,781 
 40,539       Omnicom Group, Inc   3,335,954 
 16,189       Scripps Networks Interactive (Class A)   1,069,445 
 36,141       TEGNA, Inc   791,488 
 136,549       Time Warner, Inc   10,466,481 
 188,602       Twenty-First Century Fox, Inc   5,024,357 
 75,059       Twenty-First Century Fox, Inc (Class B)   2,028,845 
 59,918       Viacom, Inc (Class B)   2,724,472 
 261,352       Walt Disney Co   25,076,725 
         TOTAL MEDIA   87,079,467 
               
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 9.5%
 280,756       AbbVie, Inc   18,594,470 
 55,874       Agilent Technologies, Inc   2,688,098 
 39,053    *  Alexion Pharmaceuticals, Inc   5,022,216 
 69,055    *  Allergan plc   17,467,462 
 131,374       Amgen, Inc   22,600,269 
 38,362    *  Biogen Idec, Inc   11,122,295 
 291,702       Bristol-Myers Squibb Co   21,822,227 
 135,977    *  Celgene Corp   15,255,260 
 168,797       Eli Lilly & Co   13,991,583 
 35,926    *  Endo International plc   623,675 
 232,250       Gilead Sciences, Inc   18,456,908 
 26,140    *  Illumina, Inc   4,348,389 
 481,547       Johnson & Johnson   60,304,131 
224

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES      COMPANY  VALUE 
              
 18,861   *  Mallinckrodt plc  $1,270,100 
 483,825      Merck & Co, Inc   28,381,175 
 73,332   *  Mylan NV   3,431,204 
 18,134      PerkinElmer, Inc   1,032,187 
 24,711      Perrigo Co plc   2,258,338 
 1,060,541      Pfizer, Inc   39,123,357 
 13,598   *  Regeneron Pharmaceuticals, Inc   5,780,782 
 68,137      Thermo Electron Corp   10,822,881 
 43,510   *  Vertex Pharmaceuticals, Inc   4,220,470 
 14,811   *  Waters Corp   2,353,912 
 79,155      Zoetis Inc   3,994,953 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   314,966,342 
              
REAL ESTATE - 3.2%
 74,834      American Tower Corp   8,663,532 
 30,726      Apartment Investment & Management Co (Class A)   1,412,474 
 23,145      AvalonBay Communities, Inc   4,296,869 
 27,710      Boston Properties, Inc   3,938,422 
 49,496   *  CBRE Group, Inc   1,408,161 
 59,633      Crown Castle International Corp   5,786,190 
 26,926      Digital Realty Trust, Inc   2,812,690 
 11,843      Equinix, Inc   4,415,900 
 64,534      Equity Residential   4,387,667 
 11,950      Essex Property Trust, Inc   2,794,866 
 21,364      Extra Space Storage, Inc   1,837,731 
 12,464      Federal Realty Investment Trust   2,115,141 
 105,167      General Growth Properties, Inc   3,360,086 
 82,096      HCP, Inc   3,220,626 
 127,446      Host Marriott Corp   2,260,892 
 40,633      Iron Mountain, Inc   1,674,486 
 71,052      Kimco Realty Corp   2,280,769 
 21,158      Macerich Co   1,888,140 
 90,016      Prologis, Inc   4,904,972 
 26,098      Public Storage, Inc   6,235,334 
 44,311      Realty Income Corp   3,166,907 
 53,960      Simon Property Group, Inc   12,251,078 
 17,068      SL Green Realty Corp   2,010,952 
 44,842      UDR, Inc   1,669,468 
 59,219      Ventas, Inc   4,510,119 
 30,868      Vornado Realty Trust   3,315,223 
 61,342      Welltower, Inc   4,866,261 
 129,048      Weyerhaeuser Co   4,222,451 
        TOTAL REAL ESTATE   105,707,407 
              
RETAILING - 5.6%
 12,591      Advance Auto Parts, Inc   2,138,707 
 67,648   *  Amazon.com, Inc   51,331,979 
 12,307   *  Autonation, Inc   656,578 
 5,362   *  AutoZone, Inc   4,364,507 
 29,326   *  Bed Bath & Beyond, Inc   1,318,204 
 48,651      Best Buy Co, Inc   1,634,674 
 33,970   *,e  Carmax, Inc   1,979,092 
 49,543      Dollar General Corp   4,693,704 
225

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES      COMPANY  VALUE 
              
 40,630   *  Dollar Tree, Inc  $3,912,263 
 20,225      Expedia, Inc   2,359,246 
 22,984      Foot Locker, Inc   1,370,306 
 40,729   e  Gap, Inc   1,050,401 
 25,337      Genuine Parts Co   2,590,455 
 217,117      Home Depot, Inc   30,014,254 
 32,336      Kohl’s Corp   1,344,854 
 44,384      L Brands, Inc   3,279,978 
 52,061   *  LKQ Corp   1,790,378 
 154,390      Lowe’s Companies, Inc   12,703,209 
 54,855      Macy’s, Inc   1,965,455 
 74,980   *  NetFlix, Inc   6,841,925 
 23,058   e  Nordstrom, Inc   1,019,855 
 17,192   *  O’Reilly Automotive, Inc   4,996,511 
 8,676   *  Priceline.com, Inc   11,719,628 
 70,117      Ross Stores, Inc   4,335,334 
 13,536      Signet Jewelers Ltd   1,189,950 
 111,577      Staples, Inc   1,036,550 
 102,737      Target Corp   7,739,178 
 18,852   e  Tiffany & Co   1,216,331 
 114,696      TJX Companies, Inc   9,372,957 
 22,822      Tractor Supply Co   2,091,636 
 19,706   *  TripAdvisor, Inc   1,378,829 
 10,973   *  Ulta Salon Cosmetics & Fragrance, Inc   2,866,257 
 14,993   *  Urban Outfitters, Inc   448,291 
        TOTAL RETAILING   186,751,476 
              
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.0%
 55,375      Analog Devices, Inc   3,534,586 
 188,042      Applied Materials, Inc   4,943,624 
 64,828      Broadcom Ltd   10,500,839 
 13,293   *  First Solar, Inc   620,517 
 821,022      Intel Corp   28,620,827 
 26,474      Kla-Tencor Corp   2,004,347 
 27,126      Lam Research Corp   2,435,101 
 43,125      Linear Technology Corp   2,587,069 
 40,284      Microchip Technology, Inc   2,241,402 
 184,442   *  Micron Technology, Inc   2,534,233 
 88,654      Nvidia Corp   5,062,143 
 21,815   *  Qorvo, Inc   1,379,363 
 257,081      Qualcomm, Inc   16,088,129 
 32,404      Skyworks Solutions, Inc   2,139,312 
 175,199      Texas Instruments, Inc   12,220,130 
 44,798      Xilinx, Inc   2,288,282 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   99,199,904 
              
SOFTWARE & SERVICES - 12.3%
 109,299      Accenture plc   12,330,020 
 89,662      Activision Blizzard, Inc   3,600,826 
 85,815   *  Adobe Systems, Inc   8,397,856 
 30,259   *  Akamai Technologies, Inc   1,528,987 
 10,127   *  Alliance Data Systems Corp   2,345,616 
 51,354   *  Alphabet, Inc (Class A)   40,638,474 
226

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES      COMPANY  VALUE 
              
 51,476   *  Alphabet, Inc (Class C)  $39,574,234 
 38,555   *  Autodesk, Inc   2,292,095 
 80,566      Automatic Data Processing, Inc   7,166,346 
 50,803      CA, Inc   1,760,324 
 26,290   *  Citrix Systems, Inc   2,343,228 
 105,712   *  Cognizant Technology Solutions Corp (Class A)   6,077,383 
 24,143      CSRA, Inc   649,929 
 184,527   *  eBay, Inc   5,749,861 
 51,895   *  Electronic Arts, Inc   3,960,626 
 404,134   *  Facebook, Inc   50,088,368 
 47,481      Fidelity National Information Services, Inc   3,776,164 
 39,986   *  Fiserv, Inc   4,412,855 
 26,058      Global Payments, Inc   1,945,490 
 153,848      International Business Machines Corp   24,711,066 
 45,811      Intuit, Inc   5,084,563 
 170,230      MasterCard, Inc (Class A)   16,212,705 
 1,374,054      Microsoft Corp   77,881,381 
 543,924      Oracle Corp   22,322,641 
 58,274      Paychex, Inc   3,454,483 
 194,028   *  PayPal Holdings, Inc   7,225,603 
 33,679   *  Red Hat, Inc   2,535,692 
 111,037   *  Salesforce.com, Inc   9,082,826 
 105,658      Symantec Corp   2,158,593 
 23,236   *  Teradata Corp   659,438 
 28,512      Total System Services, Inc   1,451,831 
 16,557   *,e  VeriSign, Inc   1,434,002 
 333,712      Visa, Inc (Class A)   26,046,222 
 84,711      Western Union Co   1,694,220 
 161,370      Xerox Corp   1,662,111 
 152,393   *  Yahoo!, Inc   5,819,888 
        TOTAL SOFTWARE & SERVICES   408,075,947 
              
TECHNOLOGY HARDWARE & EQUIPMENT - 5.1%
 53,345      Amphenol Corp (Class A)   3,175,094 
 956,866      Apple, Inc   99,715,006 
 883,488      Cisco Systems, Inc   26,972,889 
 185,308      Corning, Inc   4,117,544 
 340,678      EMC Corp   9,634,374 
 11,371   *  F5 Networks, Inc   1,403,409 
 28,974      Flir Systems, Inc   943,973 
 21,199      Harris Corp   1,836,257 
 289,636      Hewlett Packard Enterprise Co   6,088,149 
 298,349      HP, Inc   4,179,869 
 60,727      Juniper Networks, Inc   1,377,896 
 27,497      Motorola, Inc   1,907,742 
 50,024      NetApp, Inc   1,318,132 
 52,492   e  Seagate Technology, Inc   1,681,319 
 61,778      TE Connectivity Ltd   3,723,978 
 49,348      Western Digital Corp   2,344,523 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   170,420,154 
 
TELECOMMUNICATION SERVICES - 2.8%
 1,074,616      AT&T, Inc   46,520,127 
227

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES      COMPANY  VALUE 
              
 98,249      CenturyTel, Inc  $3,088,949 
 235,428   e  Frontier Communications Corp   1,224,226 
 49,424   *  Level 3 Communications, Inc   2,500,854 
 710,118      Verizon Communications, Inc   39,347,638 
        TOTAL TELECOMMUNICATION SERVICES   92,681,794 
              
TRANSPORTATION - 2.0%
 21,786      Alaska Air Group, Inc   1,464,455 
 100,940      American Airlines Group, Inc   3,583,370 
 24,908      CH Robinson Worldwide, Inc   1,734,095 
 163,905      CSX Corp   4,643,429 
 134,507      Delta Air Lines, Inc   5,212,146 
 31,740      Expeditors International of Washington, Inc   1,568,908 
 43,569      FedEx Corp   7,053,821 
 15,206      J.B. Hunt Transport Services, Inc   1,264,075 
 20,503      Kansas City Southern Industries, Inc   1,970,543 
 51,624      Norfolk Southern Corp   4,634,803 
 9,386      Ryder System, Inc   618,537 
 110,735      Southwest Airlines Co   4,098,302 
 146,362      Union Pacific Corp   13,618,984 
 59,580   *  United Continental Holdings, Inc   2,793,706 
 121,545      United Parcel Service, Inc (Class B)   13,139,015 
        TOTAL TRANSPORTATION   67,398,189 
              
UTILITIES - 3.4%
 114,909      AES Corp   1,419,126 
 37,670      Alliant Energy Corp   1,516,218 
 44,847      Ameren Corp   2,351,777 
 85,706      American Electric Power Co, Inc   5,939,426 
 32,583      American Water Works Co, Inc   2,690,704 
 73,642      Centerpoint Energy, Inc   1,761,517 
 48,004      CMS Energy Corp   2,168,821 
 55,130      Consolidated Edison, Inc   4,414,810 
 106,390      Dominion Resources, Inc   8,300,548 
 30,645      DTE Energy Co   2,988,500 
 122,177      Duke Energy Corp   10,457,129 
 56,861      Edison International   4,399,904 
 31,956      Entergy Corp   2,600,899 
 53,660      Eversource Energy   3,138,573 
 159,228      Exelon Corp   5,936,020 
 74,859      FirstEnergy Corp   2,614,076 
 80,740      NextEra Energy, Inc   10,358,135 
 52,637      NiSource, Inc   1,350,665 
 62,965      NRG Energy, Inc   871,436 
 84,648      PG&E Corp   5,412,393 
 20,505      Pinnacle West Capital Corp   1,617,229 
 118,028      PPL Corp   4,450,836 
 86,431      Public Service Enterprise Group, Inc   3,976,690 
 24,410      SCANA Corp   1,829,285 
 40,245      Sempra Energy   4,502,611 
 162,825      Southern Co   8,711,138 
 54,773      WEC Energy Group, Inc   3,555,315 
 88,668      Xcel Energy, Inc   3,899,619 
228

TIAA-CREF FUNDS - S&P 500 Index Fund

 

SHARES     COMPANY         VALUE 
                     
       TOTAL UTILITIES          $113,233,400 
                     
       TOTAL COMMON STOCKS           3,294,883,128 
       (Cost $2,328,747,945)             
                     
PRINCIPAL     ISSUER  RATE   MATURITY DATE     
SHORT-TERM INVESTMENTS - 1.2%       
GOVERNMENT AGENCY DEBT - 0.6%       
$20,200,000  d  Federal Home Loan Bank (FHLB)   0.090%   08/01/16   20,200,000 
       TOTAL GOVERNMENT AGENCY DEBT           20,200,000 
                     
SHARES      COMPANY             
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.6%       
 20,111,846  c   TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		       20,111,846 
       TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   20,111,846 
                     
       TOTAL SHORT-TERM INVESTMENTS           40,311,846 
       (Cost $40,311,846)             
       TOTAL INVESTMENTS - 100.4%           3,335,194,974 
       (Cost $2,369,059,791)             
       OTHER ASSETS & LIABILITIES, NET - (0.4)%           (14,686,710)
       NET ASSETS - 100.0%          $3,320,508,264 
                       
                       
        Abbreviation(s):             
         SPDR   Standard & Poor’s Depository Receipts             
                     
    *  Non-income producing             
    c  Investments made with cash collateral received from securities on loan.
    d  All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
    e  All or a portion of these securities are out on loan. The aggregate value of securities on loan is $19,845,291.
229

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

TIAA-CREF FUNDS

SMALL-CAP BLEND INDEX FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
         
COMMON STOCKS - 99.0%   
         
AUTOMOBILES & COMPONENTS - 1.2%     
 80,824   *  American Axle & Manufacturing Holdings, Inc  $1,407,146 
 58,464      Cooper Tire & Rubber Co   1,928,727 
 15,552   *  Cooper-Standard Holding, Inc   1,369,354 
 157,902      Dana Holding Corp   2,153,783 
 28,048   *  Dorman Products, Inc   1,786,658 
 25,059      Drew Industries, Inc   2,295,655 
 31,308   *  Federal Mogul Corp (Class A)   276,763 
 23,660   *  Fox Factory Holding Corp   454,035 
 38,495   *  Gentherm, Inc   1,291,892 
 20,258   *  Horizon Global Corp   264,367 
 15,712      Metaldyne Performance Group, Inc   249,664 
 49,523   *  Modine Manufacturing Co   475,421 
 19,311   *  Motorcar Parts of America, Inc   541,287 
 35,022      Spartan Motors, Inc   297,337 
 22,677      Standard Motor Products, Inc   951,073 
 27,332   *  Stoneridge, Inc   455,898 
 3,609      Strattec Security Corp   160,961 
 26,499      Superior Industries International, Inc   809,809 
 59,325   *  Tenneco, Inc   3,353,049 
 21,621      Tower International, Inc   499,013 
 6,937      Unique Fabricating, Inc   93,233 
 28,270      Winnebago Industries, Inc   671,695 
 12,022   *  Workhorse Group, Inc   78,985 
        TOTAL AUTOMOBILES & COMPONENTS   21,865,805 
               
BANKS - 11.5%         
 16,568      1st Source Corp   556,850 
 8,611      Access National Corp   191,423 
 6,315      ACNB Corp   163,243 
 11,561   *,e  Allegiance Bancshares, Inc   292,031 
 9,239      American National Bankshares, Inc   242,616 
 35,942      Ameris Bancorp   1,191,837 
 9,067   e  Ames National Corp   246,169 
 32,924      Apollo Residential Mortgage   446,779 
 12,130      Arrow Financial Corp   383,187 
 96,530      Astoria Financial Corp   1,416,095 
 18,224   *  Atlantic Capital Bancshares, Inc   270,262 
 52,033      Banc of California, Inc   1,154,092 
 8,277      Bancfirst Corp   542,723 
 31,271      Banco Latinoamericano de Exportaciones S.A. (Class E)   854,324 
 91,403      Bancorpsouth, Inc   2,177,219 
 45,418      Bank Mutual Corp   346,993 
 6,597      Bank of Marin Bancorp   327,079 
 93,747      Bank of the Ozarks, Inc   3,373,952 
 18,313      BankFinancial Corp   223,419 
230

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
         
 6,048   e  Bankwell Financial Group, Inc  $133,116 
 31,661      Banner Corp   1,321,530 
 6,279      Bar Harbor Bankshares   230,314 
 19,014   e  Bear State Financial, Inc   181,394 
 74,119      Beneficial Bancorp, Inc   1,005,054 
 32,242      Berkshire Hills Bancorp, Inc   850,222 
 26,774      Blue Hills Bancorp, Inc   381,529 
 39,938      BNC Bancorp   968,896 
 63,261   *,e  BofI Holding, Inc   1,064,050 
 86,390      Boston Private Financial Holdings, Inc   1,047,047 
 17,673      Bridge Bancorp, Inc   514,461 
 72,980      Brookline Bancorp, Inc   831,242 
 17,744      Bryn Mawr Bank Corp   520,431 
 7,742   *  BSB Bancorp, Inc   178,066 
 3,418   e  C&F Financial Corp   156,168 
 2,510   e  California First National Bancorp   36,495 
 10,738      Camden National Corp   466,888 
 20,968      Capital Bank Financial Corp   626,733 
 10,709      Capital City Bank Group, Inc   153,246 
 134,592      Capitol Federal Financial   1,907,169 
 33,212      Cardinal Financial Corp   855,541 
 10,823      Carolina Financial Corp   207,044 
 31,440   *  Cascade Bancorp   177,322 
 78,731      Cathay General Bancorp   2,360,355 
 48,983      Centerstate Banks of Florida, Inc   816,057 
 31,740      Central Pacific Financial Corp   778,582 
 9,248      Central Valley Community Bancorp   138,258 
 3,258      Century Bancorp, Inc   142,244 
 15,283      Charter Financial Corp   199,290 
 40,347   e  Chemical Financial Corp   1,669,559 
 3,316   e  Chemung Financial Corp   104,918 
 12,392      Citizens & Northern Corp   264,073 
 15,519      City Holding Co   724,737 
 24,639      Clifton Bancorp, Inc   369,092 
 13,729      CNB Financial Corp   253,300 
 39,261      CoBiz, Inc   484,873 
 8,128      Codorus Valley Bancorp, Inc   172,395 
 61,296      Columbia Banking System, Inc   1,858,495 
 45,256      Community Bank System, Inc   1,997,147 
 16,054      Community Trust Bancorp, Inc   558,358 
 13,313   *  CommunityOne Bancorp   173,335 
 30,890      ConnectOne Bancorp, Inc   522,350 
 5,113   e  County Bancorp, Inc   106,453 
 17,572   *  CU Bancorp   417,511 
 25,687   *  Customers Bancorp, Inc   661,183 
 107,686      CVB Financial Corp   1,771,435 
 32,145      Dime Community Bancshares   556,108 
 32,322   *  Eagle Bancorp, Inc   1,666,199 
 8,887      Enterprise Bancorp, Inc   210,355 
 20,551      Enterprise Financial Services Corp   591,047 
 5,310   *  Equity Bancshares, Inc   119,953 
 8,588      ESSA Bancorp, Inc   121,606 
 78,831   *  Essent Group Ltd   1,888,791 
231

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
         
 106,973      EverBank Financial Corp  $1,921,235 
 7,391      Farmers Capital Bank Corp   218,330 
 26,239      Farmers National Banc Corp   250,582 
 31,378   *  FCB Financial Holdings, Inc   1,097,289 
 9,054      Federal Agricultural Mortgage Corp (Class C)   347,945 
 21,907      Fidelity Southern Corp   377,019 
 14,626      Financial Institutions, Inc   393,439 
 20,790      First Bancorp (NC)   389,189 
 127,382   *  First Bancorp (Puerto Rico)   584,683 
 10,483      First Bancorp, Inc   231,150 
 31,904      First Busey Corp   718,797 
 8,781      First Business Financial Services, Inc   208,197 
 7,995      First Citizens Bancshares, Inc (Class A)   2,076,941 
 93,506      First Commonwealth Financial Corp   902,333 
 15,815      First Community Bancshares, Inc   362,638 
 14,324   *,e  First Community Financial Partners, Inc   129,059 
 15,404      First Connecticut Bancorp   248,004 
 9,327      First Defiance Financial Corp   388,843 
 64,587      First Financial Bancorp   1,376,349 
 67,366   e  First Financial Bankshares, Inc   2,301,896 
 10,889      First Financial Corp   417,049 
 9,578      First Financial Northwest, Inc   133,900 
 13,906   *  First Foundation, Inc   331,102 
 5,506   e  First Internet Bancorp   130,217 
 20,216      First Interstate Bancsystem, Inc   587,073 
 43,024      First Merchants Corp   1,127,229 
 6,040      First Mid-Illinois Bancshares, Inc   152,148 
 84,966      First Midwest Bancorp, Inc   1,586,315 
 16,492   *  First NBC Bank Holding Co   313,843 
 11,717   *,e  First Northwest Bancorp   153,258 
 15,052      First of Long Island Corp   456,828 
 174,064      FirstMerit Corp   3,695,379 
 21,814   *  Flagstar Bancorp, Inc   576,108 
 29,148      Flushing Financial Corp   650,292 
 220,806      FNB Corp   2,638,632 
 9,897   *  Franklin Financial Network, Inc   335,310 
 181,009      Fulton Financial Corp   2,470,773 
 15,273      German American Bancorp, Inc   519,282 
 80,443      Glacier Bancorp, Inc   2,218,618 
 11,574      Great Southern Bancorp, Inc   453,701 
 61,907      Great Western Bancorp, Inc   2,053,455 
 21,828   *  Green Bancorp, Inc   213,478 
 3,193      Greene County Bancorp, Inc   53,195 
 15,860      Guaranty Bancorp   267,558 
 29,360   *,e  Hampton Roads Bankshares, Inc   60,188 
 81,426      Hancock Holding Co   2,360,540 
 33,100      Hanmi Financial Corp   811,612 
 23,176      Heartland Financial USA, Inc   851,023 
 27,484      Heritage Commerce Corp   288,032 
 31,567      Heritage Financial Corp   551,160 
 25,348      Heritage Oaks Bancorp   206,333 
 78,906   *  Hilltop Holdings, Inc   1,718,573 
 1,287      Hingham Institution for Savings   168,597 
232

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
         
 6,086   e  Home Bancorp, Inc  $176,129 
 127,714      Home Bancshares, Inc   2,665,391 
 21,697   *  HomeStreet, Inc   483,843 
 17,710   *  HomeTrust Bancshares, Inc   325,510 
 82,096   *  Hope Bancorp, Inc   1,261,816 
 11,432      Horizon Bancorp   314,609 
 43,026      IBERIABANK Corp   2,687,834 
 8,512   *,e  Impac Mortgage Holdings, Inc   147,683 
 27,334      Independent Bank Corp (MA)   1,372,440 
 21,819      Independent Bank Corp (MI)   335,576 
 11,731      Independent Bank Group, Inc   495,752 
 57,778      International Bancshares Corp   1,584,273 
 314,064      Investors Bancorp, Inc   3,567,767 
 97,449      Kearny Financial Corp   1,268,786 
 8,307   e  Lake Sunapee Bank Group   153,181 
 41,033      Lakeland Bancorp, Inc   488,703 
 17,146      Lakeland Financial Corp   880,447 
 9,266   e  LCNB Corp   164,379 
 46,855      LegacyTexas Financial Group, Inc   1,336,305 
 6,707   *,e  LendingTree, Inc   677,273 
 20,626   e  Live Oak Bancshares, Inc   270,407 
 27,823   e  Macatawa Bank Corp   215,628 
 24,354      MainSource Financial Group, Inc   542,364 
 73,892      MB Financial, Inc   2,836,714 
 18,775      MBT Financial Corp   168,787 
 17,088      Mercantile Bank Corp   430,276 
 6,064      Merchants Bancshares, Inc   192,714 
 51,587      Meridian Bancorp, Inc   758,329 
 8,659      Meta Financial Group, Inc   473,561 
 360,239   *  MGIC Investment Corp   2,590,118 
 4,935      Middleburg Financial Corp   138,772 
 3,855   *  Midland States Bancorp, Inc   87,740 
 8,766      MidWestOne Financial Group, Inc   253,776 
 5,746      MutualFirst Financial, Inc   165,083 
 27,862      National Bank Holdings Corp   558,076 
 7,556   e  National Bankshares, Inc   263,024 
 8,959   *  National Commerce Corp   217,793 
 36,124   *,e  Nationstar Mortgage Holdings, Inc   456,246 
 44,845      NBT Bancorp, Inc   1,337,278 
 8,027   *  Nicolet Bankshares, Inc   291,862 
 52,135   *  NMI Holdings, Inc   327,408 
 45,004      Northfield Bancorp, Inc   671,910 
 7,136      Northrim BanCorp, Inc   202,662 
 101,464      Northwest Bancshares, Inc   1,512,828 
 21,698      OceanFirst Financial Corp   409,224 
 51,712   *,e  Ocwen Financial Corp   103,424 
 46,066      OFG Bancorp   488,760 
 8,830      Old Line Bancshares, Inc   169,006 
 139,391      Old National Bancorp   1,834,386 
 30,397      Old Second Bancorp, Inc   229,497 
 17,811      Opus Bank   574,939 
 40,721      Oritani Financial Corp   660,495 
 7,819   e  Orrstown Financial Services, Inc   151,219 
233

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
         
 19,565      Pacific Continental Corp  $283,301 
 16,248   *  Pacific Mercantile Bancorp   110,974 
 28,496   *  Pacific Premier Bancorp, Inc   688,178 
 14,044   e  Park National Corp   1,257,219 
 54,474      Park Sterling Bank   420,539 
 16,757      Peapack Gladstone Financial Corp   336,313 
 4,955   e  Penns Woods Bancorp, Inc   209,844 
 14,370   *  PennyMac Financial Services, Inc   181,206 
 17,274      Peoples Bancorp, Inc   387,801 
 7,171      Peoples Financial Services Corp   283,039 
 13,702      People’s Utah Bancorp   244,855 
 55,915   *  PHH Corp   816,918 
 45,499      Pinnacle Financial Partners, Inc   2,416,452 
 12,959      Preferred Bank   423,371 
 8,937   e  Premier Financial Bancorp, Inc   159,436 
 82,931      PrivateBancorp, Inc   3,665,550 
 70,679      Prosperity Bancshares, Inc   3,610,990 
 4,621   *  Provident Bancorp, Inc   73,613 
 6,980      Provident Financial Holdings, Inc   136,040 
 64,252      Provident Financial Services, Inc   1,294,678 
 12,933      QCR Holdings, Inc   383,334 
 227,317      Radian Group, Inc   2,932,389 
 43,016      Renasant Corp   1,385,976 
 10,205      Republic Bancorp, Inc (Class A)   304,211 
 35,457   *,e  Republic First Bancorp, Inc   155,656 
 36,174      S&T Bancorp, Inc   922,075 
 24,851      Sandy Spring Bancorp, Inc   741,554 
 31,299   *  Seacoast Banking Corp of Florida   499,845 
 24,418   e  ServisFirst Bancshares, Inc   1,236,283 
 13,264      Shore Bancshares, Inc   155,985 
 11,762      SI Financial Group, Inc   157,258 
 12,483      Sierra Bancorp   223,196 
 30,689      Simmons First National Corp (Class A)   1,410,160 
 24,951      South State Corp   1,819,177 
 6,070   *  Southern First Bancshares, Inc   164,254 
 6,160      Southern Missouri Bancorp, Inc   150,366 
 11,826   e  Southern National Bancorp of Virginia, Inc   157,641 
 25,854      Southside Bancshares, Inc   790,874 
 19,457      Southwest Bancorp, Inc   377,855 
 37,528      State Bank & Trust Co   821,113 
 133,484      Sterling Bancorp/DE   2,254,545 
 22,952      Stock Yards Bancorp, Inc   678,002 
 12,323      Stonegate Bank   390,516 
 11,789      Suffolk Bancorp   387,976 
 8,756   e  Summit Financial Group, Inc   172,055 
 11,696   *  Sun Bancorp, Inc   249,593 
 61,554      Talmer Bancorp Inc   1,293,865 
 8,752      Territorial Bancorp, Inc   235,429 
 48,714   *  Texas Capital Bancshares, Inc   2,364,578 
 37,085   *  The Bancorp, Inc   196,550 
 15,462      Tompkins Trustco, Inc   1,124,706 
 59,001   e  TowneBank   1,354,073 
 21,675      Trico Bancshares   563,983 
234

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
         
 23,143   *  Tristate Capital Holdings, Inc  $330,251 
 15,773   *  Triumph Bancorp, Inc   275,554 
 97,628      Trustco Bank Corp NY   647,274 
 71,187      Trustmark Corp   1,857,981 
 47,381      UMB Financial Corp   2,625,381 
 231,881      Umpqua Holdings Corp   3,531,548 
 45,788      Union Bankshares Corp   1,228,950 
 4,089   e  Union Bankshares, Inc   142,543 
 69,365   e  United Bankshares, Inc   2,656,679 
 74,067      United Community Banks, Inc   1,425,049 
 48,476      United Community Financial Corp   321,881 
 51,535      United Financial Bancorp, Inc (New)   677,685 
 31,685      Univest Corp of Pennsylvania   668,237 
 259,430      Valley National Bancorp   2,353,030 
 8,763   *  Veritex Holdings, Inc   152,213 
 28,959   *  Walker & Dunlop, Inc   685,460 
 20,194   *,e  Walter Investment Management Corp   57,957 
 96,014      Washington Federal, Inc   2,400,350 
 15,729      Washington Trust Bancorp, Inc   597,073 
 8,567      WashingtonFirst Bankshares, Inc   205,608 
 26,917      Waterstone Financial, Inc   422,059 
 96,520      Webster Financial Corp   3,470,859 
 37,361      WesBanco, Inc   1,155,202 
 16,754      West Bancorporation, Inc   318,326 
 26,153   e  Westamerica Bancorporation   1,230,237 
 16,829      Westfield Financial, Inc   132,444 
 75,937      Wilshire Bancorp, Inc   815,563 
 54,166      Wintrust Financial Corp   2,859,965 
 214,013   *  WMIH Corp   517,911 
 30,325      WSFS Financial Corp   1,067,137 
 52,651      Yadkin Financial Corp   1,326,279 
 5,174      Your Community Bankshares, Inc   192,525 
        TOTAL BANKS   212,363,633 
               
CAPITAL GOODS - 8.6%     
 43,045      Aaon, Inc   1,139,832 
 35,120      AAR Corp   848,499 
 62,631      Actuant Corp (Class A)   1,487,486 
 36,663   e  Advanced Drainage Systems, Inc   979,269 
 36,336   *  Aegion Corp   745,615 
 63,247   *  Aerojet Rocketdyne Holdings, Inc   1,192,838 
 22,155   *  Aerovironment, Inc   628,094 
 50,402      Aircastle Ltd   1,119,932 
 9,961      Alamo Group, Inc   668,682 
 30,223      Albany International Corp (Class A)   1,279,340 
 6,660      Allied Motion Technologies, Inc   150,649 
 26,884      Altra Holdings, Inc   763,506 
 19,600   *  Ameresco, Inc   97,020 
 8,199      American Railcar Industries, Inc   344,440 
 7,186      American Science & Engineering, Inc   265,235 
 12,445   *  American Superconductor Corp   114,245 
 14,596   *  American Woodmark Corp   1,083,461 
 30,234      Apogee Enterprises, Inc   1,413,439 
235

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
         
 38,378      Applied Industrial Technologies, Inc  $1,801,847 
 14,120      Argan, Inc   651,356 
 24,683   *  Armstrong Flooring, Inc   491,932 
 20,433      Astec Industries, Inc   1,231,701 
 20,538   *  Astronics Corp   785,989 
 27,396      AZZ, Inc   1,700,744 
 48,303   *  Babcock & Wilcox Enterprises, Inc   741,934 
 53,178      Barnes Group, Inc   2,017,042 
 63,129   *  Beacon Roofing Supply, Inc   2,968,326 
 5,094   *,e  Blue Bird Corp   71,774 
 58,199   *  BMC Stock Holdings, Inc   1,184,350 
 44,892      Briggs & Stratton Corp   1,020,395 
 88,520   *  Builders FirstSource, Inc   1,141,023 
 25,137      Caesarstone Sdot-Yam Ltd   942,386 
 17,366   *  CAI International, Inc   149,000 
 32,255   *  Chart Industries, Inc   968,295 
 17,514      CIRCOR International, Inc   997,247 
 50,344      Clarcor, Inc   3,134,417 
 19,970      Columbus McKinnon Corp   331,302 
 39,142      Comfort Systems USA, Inc   1,189,134 
 37,223   *  Continental Building Products Inc   872,879 
 15,201   *  CSW Industrials, Inc   515,770 
 26,613      Cubic Corp   1,086,875 
 46,772      Curtiss-Wright Corp   4,162,240 
 66,227   *  DigitalGlobe, Inc   1,785,480 
 23,343      Douglas Dynamics, Inc   625,592 
 10,767   *  Ducommun, Inc   208,234 
 14,530   *,e  DXP Enterprises, Inc   241,779 
 32,357   *  Dycom Industries, Inc   3,043,176 
 14,776      Dynamic Materials Corp   151,306 
 64,183      EMCOR Group, Inc   3,574,993 
 21,324      Encore Wire Corp   800,290 
 15,579   *,e  Energous Corp   193,491 
 36,255   *,e  Energy Recovery, Inc   387,929 
 45,817      EnerSys   2,856,690 
 19,004      Engility Holdings, Inc   551,876 
 23,074      EnPro Industries, Inc   1,055,636 
 27,038      ESCO Technologies, Inc   1,145,059 
 31,217   *  Esterline Technologies Corp   1,898,930 
 64,298      Federal Signal Corp   845,519 
 48,808      Franklin Electric Co, Inc   1,889,846 
 11,886      Freightcar America, Inc   177,101 
 25,042   *,e  FuelCell Energy, Inc   134,976 
 42,989   e  GATX Corp   1,922,898 
 5,412   *  Gencor Industries, Inc   95,251 
 68,989   *,e  Generac Holdings, Inc   2,607,094 
 51,255      General Cable Corp   754,986 
 33,309   *  Gibraltar Industries, Inc   1,175,142 
 22,186      Global Brass & Copper Holdings, Inc   628,308 
 7,514   *  GMS, Inc   189,729 
 18,978      Gorman-Rupp Co   514,114 
 9,437      Graham Corp   170,055 
 41,717      Granite Construction, Inc   2,076,672 
236

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
         
 58,993   *  Great Lakes Dredge & Dock Corp  $261,929 
 28,619   e  Greenbrier Cos, Inc   939,562 
 32,494      Griffon Corp   556,947 
 33,239      H&E Equipment Services, Inc   618,910 
 12,403      Hardinge, Inc   125,270 
 86,773      Harsco Corp   849,508 
 35,254   *,e  HC2 Holdings, Inc   162,168 
 62,376      Hillenbrand, Inc   2,017,864 
 6,745      Hurco Cos, Inc   179,619 
 9,948      Hyster-Yale Materials Handling, Inc   634,583 
 8,221   *  IES Holdings, Inc   127,837 
 18,487      Insteel Industries, Inc   643,163 
 30,649      John Bean Technologies Corp   2,051,031 
 104,125   e  Joy Global, Inc   2,876,974 
 11,311      Kadant, Inc   621,426 
 28,335      Kaman Corp   1,222,939 
 83,398      Kennametal, Inc   2,073,274 
 37,897   *,e  KEYW Holding Corp   388,065 
 55,774   *  KLX, Inc   1,801,500 
 50,479   *,e  Kratos Defense & Security Solutions, Inc   222,612 
 6,694   *  Lawson Products, Inc   109,782 
 19,149   *,e  Layne Christensen Co   153,192 
 11,250   e  Lindsay Corp   789,300 
 25,067      LSI Industries, Inc   274,734 
 17,697   *  Lydall, Inc   790,702 
 134,110      Manitowoc Co, Inc   746,993 
 32,057   *  Masonite International Corp   2,238,540 
 69,869   *  Mastec, Inc   1,708,297 
 41,651   *  Mercury Systems, Inc   1,079,594 
 91,807   *  Meritor, Inc   769,343 
 14,836   *  Milacron Holdings Corp   255,476 
 11,012      Miller Industries, Inc   236,318 
 33,782   *  Moog, Inc (Class A)   1,860,375 
 99,156   *  MRC Global, Inc   1,311,834 
 59,830      Mueller Industries, Inc   2,036,613 
 164,604      Mueller Water Products, Inc (Class A)   1,952,203 
 18,502   *  MYR Group, Inc   456,444 
 5,194   e  National Presto Industries, Inc   465,071 
 52,489   *,e  Navistar International Corp   672,909 
 28,736   *  NCI Building Systems, Inc   466,098 
 10,118   *  Neff Corp   98,853 
 27,729      NN, Inc   467,788 
 10,374   *  Nortek, Inc   901,293 
 113,016   *  NOW, Inc   2,069,323 
 7,755   *  NV5 Holdings, Inc   249,478 
 2,779      Omega Flex, Inc   94,792 
 29,546   *  Orion Marine Group, Inc   166,935 
 15,315   *  Patrick Industries, Inc   988,736 
 50,365   *  Pgt, Inc   604,380 
 190,665   *,e  Plug Power, Inc   341,290 
 22,422   *  Ply Gem Holdings, Inc   344,402 
 8,999      Powell Industries, Inc   331,523 
 5,278   *  Power Solutions International, Inc   92,840 
237

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
         
 2,540      Preformed Line Products Co  $124,130 
 42,506      Primoris Services Corp   767,233 
 26,050   *,e  Proto Labs, Inc   1,433,792 
 36,145      Quanex Building Products Corp   722,539 
 38,784      Raven Industries, Inc   805,156 
 24,053   *  RBC Bearings, Inc   1,828,750 
 87,594   *  Rexnord Corp   1,864,876 
 6,923   *,e  Rush Enterprises, Inc   161,514 
 31,214   *  Rush Enterprises, Inc (Class A)   717,298 
 44,065      Simpson Manufacturing Co, Inc   1,797,852 
 12,290   *  SiteOne Landscape Supply, Inc   477,344 
 9,657   *  Sparton Corp   200,962 
 43,873   *  SPX Corp   664,237 
 37,187   *  SPX FLOW, Inc   1,014,461 
 13,617      Standex International Corp   1,209,190 
 24,050      Sun Hydraulics Corp   726,310 
 66,670   *,e  Sunrun, Inc   345,351 
 13,641      Supreme Industries, Inc   229,169 
 55,449   *,e  Taser International, Inc   1,605,803 
 36,143   *  Teledyne Technologies, Inc   3,795,015 
 18,559      Tennant Co   1,189,261 
 24,308   e  Textainer Group Holdings Ltd   288,779 
 11,638   *,e  The ExOne Company   118,475 
 33,761   *  Thermon Group Holdings   681,297 
 47,340   e  Titan International, Inc   312,917 
 18,640   *,e  Titan Machinery, Inc   208,954 
 31,222   *  Trex Co, Inc   1,514,267 
 46,742   *  Trimas Corp   835,280 
 35,497      Triton International Ltd   595,995 
 52,052      Triumph Group, Inc   1,604,763 
 39,831   *  Tutor Perini Corp   1,000,555 
 45,374   *  Univar, Inc   830,798 
 20,739      Universal Forest Products, Inc   2,242,301 
 11,275   *  Vectrus, Inc   351,216 
 8,698   *  Veritiv Corp   367,230 
 16,534   *  Vicor Corp   175,260 
 68,103   *  Wabash National Corp   986,131 
 29,471      Watts Water Technologies, Inc (Class A)   1,822,781 
 4,471   *,e  Willis Lease Finance Corp   120,717 
 55,902      Woodward Governor Co   3,272,503 
        TOTAL CAPITAL GOODS   158,692,786 
              
COMMERCIAL & PROFESSIONAL SERVICES - 3.6%     
 58,809      ABM Industries, Inc   2,188,283 
 49,848      Acacia Research (Acacia Technologies)   269,678 
 113,310   *  ACCO Brands Corp   1,273,604 
 43,505   *  Advisory Board Co   1,816,769 
 11,310   *,e  Aqua Metals, Inc   105,296 
 47,625   *  ARC Document Solutions, Inc   187,643 
 7,766      Barrett Business Services, Inc   333,783 
 48,389      Brady Corp (Class A)   1,555,222 
 47,581      Brink’s Co   1,561,608 
 42,860   *  Casella Waste Systems, Inc (Class A)   401,170 
238

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
            
 52,145   *  CBIZ, Inc  $563,687 
 33,956      CEB, Inc   2,038,718 
 30,991      Ceco Environmental Corp   286,667 
 1,670   e  Compx International, Inc   19,873 
 9,022   *  CRA International, Inc   249,188 
 51,538      Deluxe Corp   3,483,453 
 144,544   *,m  Dyax Corp   160,444 
 27,024      Ennis, Inc   468,056 
 39,538      Essendant, Inc   792,342 
 27,169      Exponent, Inc   1,380,457 
 11,828   *  Franklin Covey Co   194,216 
 43,782   *  FTI Consulting, Inc   1,875,621 
 20,719      G & K Services, Inc (Class A)   1,661,871 
 13,749   *  GP Strategies Corp   288,179 
 74,631      Healthcare Services Group   2,896,429 
 19,359      Heidrick & Struggles International, Inc   376,726 
 13,051   *  Heritage-Crystal Clean, Inc   164,573 
 62,934      Herman Miller, Inc   2,062,347 
 35,918   *  Hill International, Inc   149,778 
 47,856      HNI Corp   2,494,733 
 22,584   *  Huron Consulting Group, Inc   1,388,239 
 19,187   *  ICF International, Inc   793,958 
 16,004   *,e  IDI, Inc   82,901 
 40,624   *  Innerworkings, Inc   345,710 
 16,576      Insperity, Inc   1,301,050 
 68,347      Interface, Inc   1,220,677 
 31,014      Kelly Services, Inc (Class A)   634,857 
 25,861      Kforce, Inc   461,877 
 38,959      Kimball International, Inc (Class B)   443,743 
 50,277      Knoll, Inc   1,269,494 
 60,407      Korn/Ferry International   1,389,965 
 33,864      Matthews International Corp (Class A)   2,035,565 
 24,870      McGrath RentCorp   792,607 
 18,086   *  Mistras Group, Inc   453,235 
 47,241      Mobile Mini, Inc   1,535,805 
 32,801      MSA Safety, Inc   1,832,920 
 14,324      Multi-Color Corp   925,044 
 50,151   *  Navigant Consulting, Inc   988,476 
 5,347   *  NL Industries, Inc   15,881 
 53,574   *  On Assignment, Inc   1,979,559 
 30,868      Quad   782,813 
 38,137      Resources Connection, Inc   568,241 
 53,520   *  RPX Corp   538,946 
 18,253   *  SP Plus Corp   438,620 
 90,842      Steelcase, Inc (Class A)   1,317,209 
 30,485   *,e  Team, Inc   841,691 
 61,269      Tetra Tech, Inc   2,017,588 
 18,838   *  TRC Cos, Inc   132,243 
 44,431   *  TriNet Group, Inc   963,708 
 44,428   *  TrueBlue, Inc   992,077 
 15,925      Unifirst Corp   1,861,314 
 23,058      US Ecology, Inc   1,044,527 
 21,257      Viad Corp   740,169 
239

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
            
 4,547      VSE Corp  $289,007 
 38,534   *  WageWorks, Inc   2,381,787 
 45,592      West Corp   1,008,039 
        TOTAL COMMERCIAL & PROFESSIONAL SERVICES   67,109,956 
              
CONSUMER DURABLES & APPAREL - 2.6%  
 13,874   e  Arctic Cat, Inc   216,573 
 11,265      Bassett Furniture Industries, Inc   290,975 
 33,332   *  Beazer Homes USA, Inc   319,654 
 99,483      Callaway Golf Co   1,064,468 
 8,892   *  Cavco Industries, Inc   883,687 
 16,957   *  Century Communities, Inc   300,139 
 28,547      Columbia Sportswear Co   1,634,316 
 76,715   *  CROCS, Inc   869,181 
 9,477      CSS Industries, Inc   249,340 
 11,367      Culp, Inc   324,300 
 34,237   *  Deckers Outdoor Corp   2,259,984 
 7,507   *  Delta Apparel, Inc   179,342 
 9,865      Escalade, Inc   105,851 
 26,231      Ethan Allen Interiors, Inc   911,003 
 6,840      Flexsteel Industries, Inc   281,124 
 44,303   *  Fossil Group, Inc   1,399,975 
 45,393   *  G-III Apparel Group Ltd   1,817,082 
 106,620   *  GoPro, Inc   1,347,677 
 22,516   *,e  Green Brick Partners, Inc   158,963 
 29,513   *  Helen of Troy Ltd   2,939,790 
 11,242      Hooker Furniture Corp   260,027 
 126,782   *,e  Hovnanian Enterprises, Inc (Class A)   233,279 
 45,578   *,e  Iconix Brand Group, Inc   328,162 
 21,233   *  Installed Building Products Inc   760,778 
 28,607   *,e  iRobot Corp   1,084,777 
 18,424   *,e  Jakks Pacific, Inc   169,869 
 5,339      Johnson Outdoors, Inc   162,573 
 87,974   e  KB Home   1,381,192 
 52,058      La-Z-Boy, Inc   1,573,193 
 16,275   *,e  LGI Homes, Inc   558,721 
 23,142      Libbey, Inc   432,524 
 11,087      Lifetime Brands, Inc   148,455 
 25,910   *  M/I Homes, Inc   584,270 
 19,557   *  Malibu Boats Inc   266,757 
 11,342      Marine Products Corp   103,552 
 6,594      MCBC Holdings, Inc   75,699 
 41,732      MDC Holdings, Inc   1,098,386 
 40,222   *  Meritage Homes Corp   1,463,679 
 15,730      Movado Group, Inc   355,341 
 4,040      Nacco Industries, Inc (Class A)   227,331 
 32,465   *  Nautilus, Inc   611,641 
 12,045   *,e  New Home Co Inc   118,643 
 16,039      Oxford Industries, Inc   917,110 
 40,930   *,e  Performance Sports Group Ltd   136,297 
 13,223   *  Perry Ellis International, Inc   283,237 
 40,448   *  Sequential Brands Group, Inc   328,842 
 57,875   *  Smith & Wesson Holding Corp   1,704,419 
240

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
              
 65,006   *  Steven Madden Ltd  $2,276,510 
 19,302      Sturm Ruger & Co, Inc   1,312,536 
 8,520      Superior Uniform Group, Inc   136,916 
 32,151   *  Taylor Morrison Home Corp   522,454 
 40,672   *  TopBuild Corp   1,535,775 
 157,187   *  TRI Pointe Homes, Inc   2,114,165 
 59,655   *  Tumi Holdings, Inc   1,595,771 
 8,533   *  UCP, Inc (Class A)   71,677 
 16,504   *  Unifi, Inc   446,103 
 14,946   *  Universal Electronics, Inc   1,155,924 
 21,621   *  Vera Bradley, Inc   314,802 
 26,016   *  Vince Holding Corp   130,080 
 22,901   *  WCI Communities, Inc   385,424 
 6,440      Weyco Group, Inc   179,934 
 25,204   *,e  William Lyon Homes, Inc   437,289 
 102,508      Wolverine World Wide, Inc   2,510,421 
 30,015   *  Zagg, Inc   189,995 
        TOTAL CONSUMER DURABLES & APPAREL   48,237,954 
              
CONSUMER SERVICES - 4.1%     
 16,699   *  American Public Education, Inc   478,259 
 90,319   *  Apollo Group, Inc (Class A)   811,968 
 11,096   *  Ascent Media Corp (Series A)   188,854 
 89,278   *  Belmond Ltd.   1,025,804 
 24,626   *  BJ’s Restaurants, Inc   956,474 
 120,468      Bloomin’ Brands, Inc   2,166,015 
 20,955      Bob Evans Farms, Inc   770,725 
 10,354   *  Bojangles’, Inc   179,953 
 87,164   *  Boyd Gaming Corp   1,709,286 
 18,796   *  Bridgepoint Education, Inc   134,015 
 46,355   *  Bright Horizons Family Solutions   3,109,030 
 19,988   *  Buffalo Wild Wings, Inc   3,357,184 
 50,112   *  Caesars Acquisition Co   539,205 
 58,150   *,e  Caesars Entertainment Corp   401,235 
 12,574   *  Cambium Learning Group, Inc   60,858 
 11,979      Capella Education Co   717,183 
 71,403   *  Career Education Corp   493,395 
 15,987      Carriage Services, Inc   388,644 
 35,305   *  Carrols Restaurant Group, Inc   427,544 
 22,522   *  Century Casinos, Inc   143,690 
 48,097      Cheesecake Factory   2,488,058 
 83,666   *,e  Chegg, Inc   450,960 
 14,254      Churchill Downs, Inc   1,869,127 
 17,248   *,e  Chuy’s Holdings, Inc   581,603 
 67,980      ClubCorp Holdings, Inc   985,710 
 7,858      Collectors Universe   169,026 
 20,267   e  Cracker Barrel Old Country Store, Inc   3,190,228 
 40,023   *  Dave & Buster’s Entertainment, Inc   1,781,023 
 24,938   *  Del Frisco’s Restaurant Group, Inc   372,075 
 24,501   *  Del Taco Restaurants, Inc   257,506 
 80,940   *  Denny’s Corp   903,290 
 65,387   e  DeVry Education Group, Inc   1,456,168 
 39,222   *,e  Diamond Resorts International, Inc   1,183,720 
241

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
              
 18,401      DineEquity, Inc  $1,497,289 
 21,440   *,e  El Pollo Loco Holdings, Inc   282,150 
 29,751   *  Eldorado Resorts, Inc   429,902 
 2,870   *,e  Empire Resorts, Inc   44,428 
 27,529   *  Fiesta Restaurant Group, Inc   614,998 
 4,520   *  Fogo De Chao, Inc   61,608 
 10,815      Golden Entertainment, Inc   147,192 
 47,456   *  Grand Canyon Education, Inc   1,995,999 
 14,217   *  Habit Restaurants, Inc   230,884 
 130,930   *  Houghton Mifflin Harcourt Co   2,219,263 
 28,136      International Speedway Corp (Class A)   950,153 
 119,519      Interval Leisure Group, Inc   2,148,952 
 17,664   *  Intrawest Resorts Holdings Inc   256,835 
 26,395   *  Isle of Capri Casinos, Inc   494,378 
 13,518   *  J Alexander’s Holdings, Inc   129,367 
 34,471      Jack in the Box, Inc   3,046,892 
 14,065   *,e  Jamba, Inc   151,902 
 35,635   *  K12, Inc   441,161 
 8,254   *,e  Kona Grill, Inc   103,175 
 89,965   *  La Quinta Holdings, Inc   1,112,867 
 5,829      Liberty Tax, Inc   80,790 
 89,281   *  LifeLock, Inc   1,493,671 
 15,628   *  Lindblad Expeditions Holdings, Inc   155,342 
 20,466   *  Luby’s, Inc   94,962 
 19,633      Marcus Corp   434,871 
 23,677      Marriott Vacations Worldwide Corp   1,806,555 
 11,598   *  Monarch Casino & Resort, Inc   270,581 
 3,203   *  Nathan’s Famous, Inc   155,570 
 11,386   *,e  Noodles & Co   84,143 
 28,618      Papa John’s International, Inc   2,116,301 
 79,056   *  Penn National Gaming, Inc   1,187,421 
 61,177   *  Pinnacle Entertainment, Inc   668,053 
 15,628   *  Planet Fitness, Inc   320,374 
 23,018   *  Popeyes Louisiana Kitchen, Inc   1,318,471 
 25,100   *,e  Potbelly Corp   327,053 
 15,070   *  Red Lion Hotels Corp   119,656 
 14,530   *  Red Robin Gourmet Burgers, Inc   702,671 
 31,763   *  Red Rock Resorts, Inc   730,867 
 39,666   *  Regis Corp   533,111 
 60,611   *  Ruby Tuesday, Inc   244,868 
 34,331      Ruth’s Chris Steak House, Inc   548,266 
 54,905   *,e  Scientific Games Corp (Class A)   585,013 
 71,068   e  SeaWorld Entertainment, Inc   1,094,447 
 16,575   *,e  Shake Shack, Inc   663,166 
 49,803      Sonic Corp   1,340,199 
 55,787   e  Sotheby’s (Class A)   1,806,941 
 12,021      Speedway Motorsports, Inc   212,411 
 1,103   *  Steak N Shake Co   457,866 
 11,331   *  Strayer Education, Inc   518,053 
 70,191      Texas Roadhouse, Inc (Class A)   3,314,419 
 29,298   *,e  Weight Watchers International, Inc   349,525 
 16,593      Wingstop, Inc   431,418 
 19,833   *,e  Zoe’s Kitchen, Inc   704,865 
        TOTAL CONSUMER SERVICES   74,979,130 
242

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
               
DIVERSIFIED FINANCIALS - 2.3%        
 23,512   e  Arlington Asset Investment Corp (Class A)  $327,522 
 4,952      Associated Capital Group, Inc   148,015 
 9,817   e  B. Riley Financial, Inc   89,138 
 3,900   *,e  BBX Capital Corp   75,426 
 229,410      BGC Partners, Inc (Class A)   2,034,867 
 17,377      Calamos Asset Management, Inc (Class A)   120,944 
 25,297      Cash America International, Inc   1,083,976 
 22,213      Cohen & Steers, Inc   957,380 
 112,577   *,e  Cowen Group, Inc   351,240 
 3,255      Diamond Hill Investment Group, Inc   621,672 
 25,143   *,e  Encore Capital Group, Inc   613,741 
 30,263   *  Enova International, Inc   275,091 
 41,208      Evercore Partners, Inc (Class A)   2,088,009 
 51,255   *  Ezcorp, Inc (Class A)   464,370 
 6,569      FBR Capital Markets Corp   98,995 
 56,488   e  Financial Engines, Inc   1,490,718 
 29,304      First Cash Financial Services, Inc   1,503,588 
 70,315   *  FNFV Group   838,858 
 39,480      Gain Capital Holdings, Inc   265,306 
 4,783      GAMCO Investors, Inc (Class A)   163,292 
 45,072   *  Green Dot Corp   1,090,742 
 29,456      Greenhill & Co, Inc   584,112 
 3,051      Hennessy Advisors, Inc   105,870 
 37,999      HFF, Inc (Class A)   1,071,952 
 12,676      Houlihan Lokey, Inc   290,661 
 15,921   *  INTL FCStone, Inc   463,938 
 35,402      Investment Technology Group, Inc   591,213 
 50,789   e  iShares Russell 2000 Index Fund   6,150,040 
 151,500      Janus Capital Group, Inc   2,287,650 
 55,228   *  KCG Holdings, Inc   835,600 
 108,919   *  Ladenburg Thalmann Financial Services, Inc   265,762 
 347,185   *,e  LendingClub Corp   1,603,995 
 15,733   *  Manning & Napier, Inc   122,560 
 8,576      Marlin Business Services Corp   157,455 
 6,103   e  Medley Management, Inc   45,834 
 19,622      Moelis & Co   488,392 
 21,331      Nelnet, Inc (Class A)   861,986 
 25,784   *  NewStar Financial, Inc   263,512 
 42,369      OM Asset Management plc   593,166 
 50,770   *,e  On Deck Capital, Inc   264,004 
 10,059      Oppenheimer Holdings, Inc   158,329 
 22,714   *  Pico Holdings, Inc   228,957 
 16,171   *  Piper Jaffray Cos   668,509 
 18,691      PJT Partners, Inc   477,181 
 49,290   *,e  PRA Group, Inc   1,373,219 
 15,374      Pzena Investment Management, Inc (Class A)   120,840 
 10,556   *  Regional Management Corp   198,453 
 12,890      Resource America, Inc (Class A)   125,549 
 21,041   *  Safeguard Scientifics, Inc   271,850 
 7,377   e  Silvercrest Asset Management Group, Inc   89,631 
243

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 67,753   *  Stifel Financial Corp  $2,395,069 
 29,168      Tiptree Financial, Inc   152,257 
 1,276   e  Value Line, Inc   23,057 
 26,633   e  Virtu Financial, Inc   458,088 
 6,706   e  Virtus Investment Partners, Inc   565,249 
 83,798      Waddell & Reed Financial, Inc (Class A)   1,530,151 
 8,429      Westwood Holdings Group, Inc   451,963 
 1,462   *,e  Wins Finance Holdings, Inc   29,825 
 121,312   e  WisdomTree Investments, Inc   1,205,841 
 6,374   *,e  World Acceptance Corp   277,014 
        TOTAL DIVERSIFIED FINANCIALS   42,551,624 
           
ENERGY - 2.8%
 119,777   *  Abraxas Petroleum Corp   138,941 
 2,024      Adams Resources & Energy, Inc   61,267 
 31,843      Alon USA Energy, Inc   225,130 
 72,728      Archrock, Inc   648,007 
 22,797   e  Ardmore Shipping Corp   160,263 
 64,233   e  Atwood Oceanics, Inc   686,009 
 51,663   *,e  Bill Barrett Corp   308,428 
 35,540   e  Bristow Group, Inc   384,187 
 33,434   *,e  California Resources Corp   343,033 
 128,027   *  Callon Petroleum Co   1,458,228 
 20,847   e  CARBO Ceramics, Inc   293,943 
 59,004   *  Carrizo Oil & Gas, Inc   1,935,331 
 6,392   *,e  Clayton Williams Energy, Inc   241,042 
 92,677   *  Clean Energy Fuels Corp   277,104 
 430,878   *,e  Cobalt International Energy, Inc   642,008 
 19,256   *  Contango Oil & Gas Co   177,733 
 16,677   e  CVR Energy, Inc   246,820 
 21,343   *  Dawson Geophysical Co   159,005 
 65,053      Delek US Holdings, Inc   814,464 
 371,240   e  Denbury Resources, Inc   1,076,596 
 95,894      DHT Holdings, Inc   446,866 
 26,002   *,e  Dorian LPG Ltd   160,432 
 2,787   *  Earthstone Energy, Inc   28,009 
 40,877   *,e  EP Energy Corp   170,457 
 20,076   *  Era Group, Inc   176,267 
 18,688   *,e  Erin Energy Corp   47,841 
 26,714      Evolution Petroleum Corp   145,591 
 150,503   *,e  EXCO Resources, Inc   207,694 
 34,541   *  Exterran Corp   439,362 
 69,767   *  Fairmount Santrol Holdings, Inc   477,904 
 63,355   *  Forum Energy Technologies, Inc   1,034,587 
 68,067   e  Frontline Ltd   540,452 
 43,443   e  GasLog Ltd   580,833 
 40,493   *  Gener8 Maritime, Inc   215,423 
 13,377   *,e  Geospace Technologies Corp   220,721 
 93,866   e  Golar LNG Ltd   1,591,967 
 37,962      Green Plains Renewable Energy, Inc   860,978 
 106,902   *  Helix Energy Solutions Group, Inc   848,802 
 36,029   *,e  Hornbeck Offshore Services, Inc   287,511 
 31,552   *  Independence Contract Drilling, Inc   158,707 
244

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 815   *,e  Isramco, Inc  $64,467 
 35,574   *  Jones Energy, Inc (Class A)   131,624 
 87,638   *  Matador Resources Co   1,848,285 
 26,978   *  Matrix Service Co   447,026 
 255,155   *  McDermott International, Inc   1,321,703 
 12,792   *  Natural Gas Services Group, Inc   321,207 
 85,514   e  Navios Maritime Acq Corp   130,836 
 85,866   *  Newpark Resources, Inc   542,673 
 91,547   e  Nordic American Tanker Shipping   1,126,028 
 49,964   *,e  Northern Oil And Gas, Inc   197,857 
 187,849   *  Oasis Petroleum, Inc   1,427,652 
 54,050   *  Oil States International, Inc   1,671,226 
 38,165      Overseas Shipholding Group, Inc   488,130 
 30,665   *,e  Pacific Ethanol, Inc   209,442 
 16,567      Panhandle Oil and Gas, Inc (Class A)   271,036 
 29,467   *  Par Petroleum Corp   442,005 
 126,716   *  Parker Drilling Co   262,302 
 48,666   *  PDC Energy, Inc   2,665,437 
 12,236   *  PHI, Inc   236,400 
 66,714   *  Pioneer Energy Services Corp   210,149 
 45,997   *  Renewable Energy Group, Inc   448,471 
 5,976   *  Rex American Resources Corp   393,221 
 12,000   *  RigNet, Inc   143,400 
 37,776   *  Ring Energy, Inc   299,941 
 82,961   *  RSP Permian, Inc   2,982,448 
 59,117   *,e  Sanchez Energy Corp   374,802 
 172,695      Scorpio Tankers, Inc   822,028 
 16,889   *,e  SEACOR Holdings, Inc   954,566 
 398,608   *,e  Seadrill Ltd   1,183,866 
 55,856      SemGroup Corp   1,617,590 
 62,259   e  Ship Finance International Ltd   940,111 
 196,281   *  Synergy Resources Corp   1,277,789 
 46,108   e  Teekay Corp   285,870 
 122,166   e  Teekay Tankers Ltd (Class A)   360,390 
 42,038      Tesco Corp   277,871 
 81,516   *  Tetra Technologies, Inc   489,911 
 50,086   e  Tidewater, Inc   213,867 
 53,024   *  Unit Corp   662,800 
 67,560      US Silica Holdings Inc   2,328,793 
 41,216   *,e  W&T Offshore, Inc   82,020 
 71,766      Western Refining, Inc   1,496,321 
 17,749   *  Westmoreland Coal Co   169,503 
 45,355   *  Willbros Group, Inc   92,978 
        TOTAL ENERGY   50,831,985 
               
FOOD & STAPLES RETAILING - 0.6%        
 28,458      Andersons, Inc   1,052,377 
 20,472   *  Chefs’ Warehouse Holdings, Inc   330,623 
 14,780      Ingles Markets, Inc (Class A)   573,907 
 9,375   *  Natural Grocers by Vitamin C   128,344 
 39,454   *  Performance Food Group Co   1,082,618 
 21,132      Pricesmart, Inc   1,645,760 
 23,742   *  Smart & Final Stores, Inc   327,402 
245

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 38,832      Spartan Stores, Inc  $1,223,208 
 280,615   *  Supervalu, Inc   1,369,401 
 52,360   *  United Natural Foods, Inc   2,616,953 
 7,291      Village Super Market (Class A)   230,687 
 10,322      Weis Markets, Inc   533,338 
        TOTAL FOOD & STAPLES RETAILING   11,114,618 
               
FOOD, BEVERAGE & TOBACCO - 1.8%        
 3,815      Alico, Inc   112,848 
 8,811   *  Alliance One International, Inc   152,430 
 30,917   *,e  Amplify Snack Brands, Inc   440,876 
 65,314      B&G Foods, Inc (Class A)   3,369,549 
 9,364   *,e  Boston Beer Co, Inc (Class A)   1,712,488 
 16,326      Calavo Growers, Inc   1,073,924 
 32,522   e  Cal-Maine Foods, Inc   1,362,672 
 4,980   e  Coca-Cola Bottling Co Consolidated   709,202 
 14,481   *  Craft Brewers Alliance, Inc   170,007 
 173,140   *  Darling International, Inc   2,732,149 
 97,504      Dean Foods Co   1,799,924 
 8,217   *  Farmer Bros Co   252,015 
 34,408      Fresh Del Monte Produce, Inc   1,956,095 
 23,625   *,e  Freshpet, Inc   206,483 
 19,110   *,e  Inventure Foods, Inc   164,728 
 15,837      J&J Snack Foods Corp   1,925,938 
 8,986      John B. Sanfilippo & Son, Inc   419,377 
 19,805      Lancaster Colony Corp   2,573,858 
 28,166   *  Landec Corp   323,909 
 4,622   *,e  Lifeway Foods, Inc   46,174 
 12,397   e  Limoneira Co   219,303 
 13,223      Mgp Ingredients, Inc   568,589 
 12,162   *  National Beverage Corp   697,612 
 23,100   *  Omega Protein Corp   520,212 
 22,217   *  Primo Water   266,160 
 21,109   e  Sanderson Farms, Inc   1,848,937 
 280   *  Seaboard Corp   820,400 
 7,003   *  Seneca Foods Corp   274,308 
 84,955      Snyder’s-Lance, Inc   2,910,558 
 22,657   *,e  Synutra International, Inc   79,073 
 18,471   e  Tootsie Roll Industries, Inc   685,828 
 6,241   *,e  Turning Point Brands, Inc   69,587 
 23,302      Universal Corp   1,382,042 
 92,649   e  Vector Group Ltd   2,046,616 
        TOTAL FOOD, BEVERAGE & TOBACCO   33,893,871 
               
HEALTH CARE EQUIPMENT & SERVICES - 6.1%        
 10,486   *,e  AAC Holdings, Inc   237,718 
 23,198      Abaxis, Inc   1,147,373 
 84,148   *  Accuray, Inc   461,131 
 30,734      Aceto Corp   790,171 
 7,795   *  Addus HomeCare Corp   147,014 
 13,042   *,e  Adeptus Health, Inc   581,282 
 37,632   *,e  Air Methods Corp   1,252,769 
 8,566   *  Almost Family, Inc   340,841 
246

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
            
 29,689   *  Amedisys, Inc  $1,589,846 
 9,243   *  American Renal Associates Holdings, Inc   220,446 
 49,913   *  AMN Healthcare Services, Inc   2,111,320 
 13,027      Analogic Corp   1,094,529 
 28,529   *  Angiodynamics, Inc   473,296 
 15,060   *  Anika Therapeutics, Inc   751,795 
 33,187   *  AtriCure, Inc   504,111 
 1,466      Atrion Corp   698,989 
 11,588   *,e  Avinger, Inc   57,245 
 25,548   *  AxoGen, Inc   171,683 
 67,050   *,e  BioScrip, Inc   171,648 
 27,871   *  BioTelemetry, Inc   530,106 
 37,808      Cantel Medical Corp   2,531,246 
 29,246   *  Capital Senior Living Corp   569,712 
 33,033   *  Cardiovascular Systems, Inc   647,777 
 42,055   *  Castlight Health, Inc   156,865 
 106,876   *,e  Cerus Corp   789,814 
 17,110      Chemed Corp   2,517,565 
 15,932   *  Civitas Solutions, Inc   341,423 
 116,201   *,e  Community Health Systems, Inc   1,483,887 
 11,962   e  Computer Programs & Systems, Inc   474,174 
 37,623   *,e  ConforMIS, Inc   262,232 
 28,826      Conmed Corp   1,171,489 
 58,576   *,e  Corindus Vascular Robotics, Inc   83,764 
 10,428   *  Corvel Corp   471,346 
 13,320   *  Cotiviti Holdings, Inc   321,545 
 33,769   *  Cross Country Healthcare, Inc   493,703 
 33,315      CryoLife, Inc   485,400 
 13,259   *  Cutera, Inc   143,065 
 25,013   *  Cynosure, Inc (Class A)   1,374,714 
 48,270   *,e  Diplomat Pharmacy, Inc   1,734,341 
 85,625   *,e  Endologix, Inc   1,208,169 
 50,742      Ensign Group, Inc   1,090,953 
 7,883   *  Entellus Medical, Inc   141,106 
 15,974   *  Evolent Health, Inc   376,028 
 10,999   *  Exactech, Inc   297,303 
 42,351   *  Genesis Health Care, Inc   87,243 
 42,505   *,e  GenMark Diagnostics, Inc   452,678 
 17,614   *  Glaukos Corp   615,785 
 73,989   *  Globus Medical, Inc   1,698,048 
 54,018   *  Haemonetics Corp   1,637,826 
 49,393   *  Halyard Health, Inc   1,708,504 
 45,547   *  HealthEquity, Inc   1,344,547 
 93,659      Healthsouth Corp   4,032,020 
 26,980   *  HealthStream, Inc   653,725 
 33,690   *  Healthways, Inc   567,340 
 17,876   *  HeartWare International, Inc   1,035,735 
 88,829   *  HMS Holdings Corp   1,765,920 
 15,521   *  ICU Medical, Inc   1,812,232 
 16,950   *  Imprivata, Inc   324,084 
 17,212   *  Inogen Inc   924,973 
 60,904   *  Insulet Corp   2,155,393 
 32,289   *  Integer Holding Corp   717,139 
247

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 31,897   *  Integra LifeSciences Holdings Corp  $2,687,960 
 34,175      Invacare Corp   393,696 
 31,956   *,e  InVivo Therapeutics Holdings Corp   207,075 
 4,270   *,e  iRadimed Corp   82,667 
 7,958   *,e  IRIDEX Corp   128,999 
 27,188   *  K2M Group Holdings, Inc   455,671 
 88,875      Kindred Healthcare, Inc   1,089,607 
 9,954      Landauer, Inc   415,281 
 14,283      LeMaitre Vascular, Inc   245,668 
 15,808   *  LHC Group, Inc   715,470 
 26,385   *  Magellan Health Services, Inc   1,806,581 
 43,304   *  Masimo Corp   2,293,813 
 58,056   *  Medidata Solutions, Inc   3,085,676 
 44,324      Meridian Bioscience, Inc   858,113 
 45,223   *  Merit Medical Systems, Inc   1,060,027 
 45,671   *  Molina Healthcare, Inc   2,594,569 
 11,809      National Healthcare Corp   762,861 
 8,654      National Research Corp   129,983 
 34,308   *  Natus Medical, Inc   1,349,334 
 38,682   *  Neogen Corp   2,133,312 
 25,352   *,e  Nevro Corp   2,096,610 
 58,597   *,e  Nobilis Health Corp   167,001 
 53,462   *,e  Novocure Ltd   402,034 
 52,312   *  NuVasive, Inc   3,253,806 
 67,245   *  NxStage Medical, Inc   1,486,787 
 37,573   *  Omnicell, Inc   1,453,324 
 54,867   *  OraSure Technologies, Inc   374,193 
 18,682   *  Orthofix International NV   885,527 
 65,932      Owens & Minor, Inc   2,354,432 
 23,335   *,e  Oxford Immunotec Global plc   187,613 
 26,866   *  Penumbra, Inc   1,835,216 
 30,753   *  PharMerica Corp   816,800 
 23,364   *  Press Ganey Holdings, Inc   932,691 
 13,332   *  Providence Service Corp   644,869 
 53,965      Quality Systems, Inc   662,690 
 28,516   *  Quidel Corp   650,165 
 31,348   *  Quorum Health Corp   341,380 
 39,259   *  RadNet, Inc   235,947 
 51,054   *,e  Rockwell Medical, Inc   410,985 
 56,330   *  RTI Biologics, Inc   183,072 
 17,040   *,e  Second Sight Medical Products, Inc   68,842 
 112,647   *  Select Medical Holdings Corp   1,295,440 
 29,143   *,e  Senseonics Holdings, Inc   96,755 
 45,066   *  Spectranetics Corp   1,044,630 
 42,227   *  Staar Surgical Co   288,833 
 19,654   *,e  Surgery Partners, Inc   356,327 
 28,325   *  Surgical Care Affiliates, Inc   1,473,183 
 13,101   *  SurModics, Inc   359,360 
 19,609   *  Tandem Diabetes Care, Inc   130,008 
 71,636   *  Team Health Holdings, Inc   2,925,614 
 21,885   *,e  Teladoc, Inc   381,674 
 64,711   *,e  TransEnterix, Inc   87,360 
 24,585   *  Triple-S Management Corp (Class B)   610,937 
248

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 61,143      Universal American Corp  $468,355 
 12,604      US Physical Therapy, Inc   751,450 
 2,500   *  USMD Holdings, Inc   51,475 
 3,848      Utah Medical Products, Inc   250,389 
 18,016   *  Vascular Solutions, Inc   826,394 
 16,977   *,e  Veracyte, Inc   84,036 
 6,996   *,e  ViewRay, Inc   26,305 
 26,125   *  Vocera Communications, Inc   386,389 
 108,952   *  Wright Medical Group NV   2,389,317 
 37,414   *,e  Zeltiq Aesthetics, Inc   1,270,205 
        TOTAL HEALTH CARE EQUIPMENT & SERVICES   111,528,909 
               
HOUSEHOLD & PERSONAL PRODUCTS - 0.6%        
 465,242      Avon Products, Inc   1,893,535 
 10,673   *  Central Garden & Pet Co   258,927 
 35,501   *  Central Garden and Pet Co (Class A)   809,068 
 26,107   *  Elizabeth Arden, Inc   362,887 
 125,201   *  HRG Group, Inc   1,864,243 
 18,467      Inter Parfums, Inc   600,916 
 14,527   *  Lifevantage Corp   203,233 
 11,162      Medifast, Inc   393,126 
 8,193   e  Natural Health Trends Corp   275,203 
 9,628      Nature’s Sunshine Products, Inc   113,610 
 8,709   *  Nutraceutical International Corp   223,299 
 5,258      Oil-Dri Corp of America   196,912 
 9,315   e  Orchids Paper Products Co   286,064 
 12,362   *  Revlon, Inc (Class A)   438,727 
 5,595   *  USANA Health Sciences, Inc   768,305 
 14,901      WD-40 Co   1,713,317 
        TOTAL HOUSEHOLD & PERSONAL PRODUCTS   10,401,372 
               
INSURANCE - 2.2%        
 47,827   *  AMBAC Financial Group, Inc   869,495 
 84,970      American Equity Investment Life Holding Co   1,353,572 
 20,158      Amerisafe, Inc   1,179,848 
 30,455      Argo Group International Holdings Ltd   1,580,310 
 10,991   *  Atlas Financial Holdings, Inc   189,155 
 9,661      Baldwin & Lyons, Inc (Class B)   255,920 
 6,260      Blue Capital Reinsurance Holdings Ltd   111,741 
 47,780   *,e  Citizens, Inc (Class A)   398,963 
 189,158      Conseco, Inc   3,285,675 
 13,364      Crawford & Co (Class B)   146,737 
 8,330      Donegal Group, Inc (Class A)   134,696 
 18,842   *  eHealth, Inc   179,941 
 8,843      EMC Insurance Group, Inc   245,216 
 33,889      Employers Holdings, Inc   966,514 
 11,952   *  Enstar Group Ltd   1,991,084 
 10,696      FBL Financial Group, Inc (Class A)   667,110 
 13,489      Federated National Holding Co   282,595 
 12,373   e  Fidelity & Guaranty Life   270,474 
 529,998   *  Genworth Financial, Inc (Class A)   1,515,794 
 30,437   *  Greenlight Capital Re Ltd (Class A)   627,915 
 13,466   *  Hallmark Financial Services   142,874 
249

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
            
 8,715      HCI Group, Inc  $262,844 
 27,915      Heritage Insurance Holdings, Inc   345,867 
 42,790      Horace Mann Educators Corp   1,462,562 
 7,520      Independence Holding Co   130,923 
 11,513      Infinity Property & Casualty Corp   944,527 
 1,506      Investors Title Co   151,353 
 15,077      James River Group Holdings Ltd   507,492 
 42,058      Kemper Corp   1,441,328 
 62,385      Maiden Holdings Ltd   871,518 
 138,701   *  MBIA, Inc   1,170,636 
 50,842      National General Holdings Corp   1,048,871 
 7,920      National Interstate Corp   256,846 
 2,386      National Western Life Group, Inc   451,288 
 11,844      Navigators Group, Inc   1,109,428 
 21,461      OneBeacon Insurance Group Ltd (Class A)   300,669 
 12,590   *,e  Patriot National, Inc   99,335 
 49,628   e  Primerica, Inc   2,556,338 
 40,300      RLI Corp   2,747,251 
 15,383      Safety Insurance Group, Inc   979,897 
 60,014      Selective Insurance Group, Inc   2,350,148 
 15,535      State Auto Financial Corp   350,780 
 30,579      State National Cos, Inc   333,923 
 24,145      Stewart Information Services Corp   1,033,647 
 69,863   *  Third Point Reinsurance Ltd   879,575 
 15,904   *,e  Trupanion, Inc   239,832 
 8,881   *  United America Indemnity Ltd   266,696 
 22,797      United Fire & Casualty Co   957,474 
 18,074      United Insurance Holdings Corp   286,654 
 34,492   e  Universal Insurance Holdings, Inc   749,856 
        TOTAL INSURANCE   40,683,187 
              
MATERIALS - 4.7%        
 30,062      A. Schulman, Inc   881,117 
 4,264      AEP Industries, Inc   343,081 
 23,331   *,e  AgroFresh Solutions, Inc   150,485 
 250,414   *,e  AK Steel Holding Corp   1,642,716 
 114,569   e  Allegheny Technologies, Inc   2,040,474 
 30,407      American Vanguard Corp   452,456 
 9,050      Ampco-Pittsburgh Corp   119,550 
 74,936      Axiall Corp   2,446,660 
 33,224      Balchem Corp   2,122,017 
 41,228   *  Boise Cascade Co   1,120,165 
 53,418      Calgon Carbon Corp   737,168 
 48,817      Carpenter Technology Corp   1,916,067 
 52,533   *  Century Aluminum Co   398,725 
 7,449      Chase Corp   451,335 
 193,525      Chemours Co   1,799,783 
 67,268   *  Chemtura   1,889,558 
 17,914   *  Clearwater Paper Corp   1,126,970 
 186,502   *,e  Cliffs Natural Resources, Inc   1,475,231 
 35,447   *  Codexis, Inc   154,194 
 161,341   *  Coeur Mining, Inc   2,471,744 
 120,999      Commercial Metals Co   2,001,323 
250

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 11,399      Deltic Timber Corp  $785,619 
 87,802   *  Ferro Corp   1,137,914 
 69,112      Ferroglobe plc   644,124 
 54,187   *,e  Flotek Industries, Inc   769,455 
 25,584      FutureFuel Corp   293,193 
 74,881   *  GCP Applied Technologies, Inc   2,061,474 
 52,649   *  Gold Resource Corp   295,887 
 6,033   e  Greif, Inc   319,568 
 27,044      Greif, Inc (Class A)   1,085,276 
 52,932      H.B. Fuller Co   2,464,514 
 2,530   *  Handy & Harman Ltd   70,511 
 10,359      Hawkins, Inc   442,744 
 12,649      Haynes International, Inc   480,409 
 76,830   *  Headwaters, Inc   1,528,149 
 402,827   e  Hecla Mining Co   2,614,347 
 44,947   *  Ingevity Corp   1,720,122 
 20,371      Innophos Holdings, Inc   877,175 
 24,921      Innospec, Inc   1,252,779 
 18,647      Kaiser Aluminum Corp   1,544,904 
 91,107      Kapstone Paper and Packaging Corp   1,301,008 
 9,445      KMG Chemicals, Inc   259,643 
 21,056   *  Koppers Holdings, Inc   665,791 
 31,237   *  Kraton Polymers LLC   934,299 
 20,428   e  Kronos Worldwide, Inc   115,418 
 152,229   *  Louisiana-Pacific Corp   3,075,026 
 20,608   *,e  LSB Industries, Inc   238,641 
 20,344      Materion Corp   537,285 
 36,591      Minerals Technologies, Inc   2,387,929 
 22,335   *  Multi Packaging Solutions International Ltd   324,304 
 23,462      Myers Industries, Inc   350,757 
 17,485      Neenah Paper, Inc   1,318,894 
 174,821      Olin Corp   3,653,759 
 9,702      Olympic Steel, Inc   278,059 
 45,790   *  Omnova Solutions, Inc   433,631 
 45,858      PH Glatfelter Co   947,426 
 88,587      PolyOne Corp   3,106,746 
 13,716      Quaker Chemical Corp   1,312,073 
 45,459      Rayonier Advanced Materials, Inc   625,970 
 27,750   *  Real Industry, Inc   217,560 
 11,590   *,e  Ryerson Holding Corp   167,360 
 27,571      Schnitzer Steel Industries, Inc (Class A)   537,359 
 31,859      Schweitzer-Mauduit International, Inc   1,204,589 
 46,999      Sensient Technologies Corp   3,469,936 
 20,714      Stepan Co   1,332,117 
 129,012   *  Stillwater Mining Co   1,973,884 
 80,069   *  Summit Materials, Inc   1,772,728 
 70,729      SunCoke Energy, Inc   539,662 
 36,202   *,e  TerraVia Holdings, Inc   91,591 
 42,921      TimkenSteel Corp   430,068 
 20,093   *  Trecora Resources   229,663 
 26,796      Tredegar Corp   474,289 
 30,243      Trinseo S.A.   1,505,799 
 70,322      Tronox Ltd   456,390 
251

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 6,723   *  UFP Technologies, Inc  $153,889 
 1,928      United States Lime & Minerals, Inc   121,464 
 15,187   *,e  US Concrete, Inc   979,562 
 19,013   e  Valhi, Inc   35,364 
 47,550   *  Worthington Industries, Inc   2,106,941 
        TOTAL MATERIALS   85,795,857 
              
MEDIA - 1.8%        
 22,808      AMC Entertainment Holdings, Inc   671,011 
 24,895   *  Carmike Cinemas, Inc   767,264 
 84,159   *,e  Central European Media Enterprises Ltd (Class A) (NASDAQ)   194,407 
 1,175   *,e  Daily Journal Corp   268,370 
 81,822   *  DreamWorks Animation SKG, Inc (Class A)   3,352,247 
 27,026      Entercom Communications Corp (Class A)   394,850 
 68,748      Entravision Communications Corp (Class A)   499,111 
 31,185   *,e  Eros International plc   542,931 
 62,877      EW Scripps Co (Class A)   1,066,394 
 123,628      Gannett Co, Inc   1,577,493 
 49,313   *,e  Global Eagle Entertainment, Inc   404,367 
 67,628   *  Gray Television, Inc   669,517 
 7,572   *,e  Hemisphere Media Group, Inc   96,089 
 61,932   *  Imax Corp   1,956,432 
 9,652   *  Liberty Braves Group (Class A)   159,162 
 33,242   *  Liberty Braves Group (Class C)   531,207 
 24,063   *  Liberty Media Group (Class A)   546,230 
 48,719   *,e  Liberty Media Group (Class C)   1,092,280 
 13,752   *  Loral Space & Communications, Inc   483,108 
 54,053      MDC Partners, Inc   689,716 
 115,176   *  Media General, Inc   2,025,946 
 39,428      Meredith Corp   2,148,037 
 62,766   *  MSG Networks, Inc   1,007,394 
 64,928      National CineMedia, Inc   1,011,578 
 41,002      New Media Investment Group, Inc   724,095 
 131,690      New York Times Co (Class A)   1,709,336 
 31,503   e  Nexstar Broadcasting Group, Inc (Class A)   1,592,477 
 25,932   *,e  Radio One, Inc   82,982 
 17,700   *  Reading International, Inc   243,375 
 3,855      Saga Communications, Inc   158,132 
 11,718      Salem Communications   88,705 
 28,570      Scholastic Corp   1,174,227 
 69,657      Sinclair Broadcast Group, Inc (Class A)   1,937,858 
 108,487      Time, Inc   1,771,593 
 10,404   *  Townsquare Media, Inc   85,105 
 28,330   *  tronc, Inc   424,667 
 38,119      World Wrestling Entertainment, Inc (Class A)   752,850 
        TOTAL MEDIA   32,900,543 
                
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.6%        
 25,192   *,e  Accelerate Diagnostics, Inc   495,023 
 28,938   *  Acceleron Pharma, Inc   981,577 
 37,387   *,e  AcelRx Pharmaceuticals, Inc   135,715 
 123,735   *  Achillion Pharmaceuticals, Inc   1,024,526 
 9,512   *,e  Aclaris Therapeutics, Inc   187,386 
252

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 45,405   *  Acorda Therapeutics, Inc  $1,147,838 
 17,598   *,e  Adamas Pharmaceuticals, Inc   265,730 
 37,445   *,e  Aduro Biotech, Inc   549,693 
 34,621   *,e  Advaxis, Inc   288,739 
 23,588   *  Adverum Biotechnologies, Inc   85,389 
 25,399   *,e  Aerie Pharmaceuticals, Inc   440,673 
 81,131   *,e  Agenus, Inc   450,277 
 14,046   *  Agile Therapeutics, Inc   98,322 
 27,685   *,e  Aimmune Therapeutics, Inc   331,943 
 37,836   *,e  Akebia Therapeutics, Inc   338,632 
 27,371   *,e  Albany Molecular Research, Inc   395,237 
 49,457   *,e  Alder Biopharmaceuticals, Inc   1,587,570 
 36,802   *  AMAG Pharmaceuticals, Inc   976,357 
 134,306   *  Amicus Therapeutics, Inc   902,536 
 37,558   *  Amphastar Pharmaceuticals, Inc   607,688 
 46,255   *  Ampio Pharmaceuticals, Inc   45,792 
 34,368   *,e  Anavex Life Sciences Corp   131,973 
 8,046   *,e  ANI Pharmaceuticals, Inc   487,588 
 40,458   *,e  Anthera Pharmaceuticals, Inc   124,611 
 13,387   *  Applied Genetic Technologies Corp   201,207 
 36,138   *,e  Aratana Therapeutics, Inc   274,287 
 24,055   *  Ardelyx, Inc   256,907 
 251,184   *,e  Arena Pharmaceuticals, Inc   419,477 
 11,126   *,e  Argos Therapeutics, Inc   58,523 
 186,709   *,e  Ariad Pharmaceuticals, Inc   1,775,603 
 147,456   *  Array Biopharma, Inc   551,485 
 60,850   *,e  Arrowhead Research Corp   362,666 
 20,225   *,e  Asterias Biotherapeutics, Inc   60,473 
 24,483   *,e  Atara Biotherapeutics, Inc   587,592 
 80,123   *,e  Athersys, Inc   177,873 
 5,009   *,e  Avexis, Inc   188,489 
 25,788   *,e  Axovant Sciences Ltd   381,662 
 11,659   *,e  Axsome Therapeutics, Inc   91,173 
 22,170   *,e  Bellicum Pharmaceuticals, Inc   352,060 
 82,617   *  BioCryst Pharmaceuticals, Inc   299,074 
 87,326   *  Bio-Path Holdings, Inc   148,454 
 5,693   *  Biospecifics Technologies Corp   230,566 
 67,784   *,e  BioTime, Inc   211,486 
 39,102   *,e  Bluebird Bio, Inc   2,235,852 
 21,146   *,e  Blueprint Medicines Corp   467,538 
 33,645   *  Cambrex Corp   1,763,334 
 20,459   *,e  Cara Therapeutics Inc   121,322 
 105,156   *  Catalent, Inc   2,685,684 
 104,711   *,e  Celldex Therapeutics, Inc   483,765 
 11,627   *,e  Cellular Biomedicine Group, Inc   173,126 
 43,710   *,e  Cempra, Inc   785,469 
 76,747   *  Cepheid, Inc   2,711,471 
 24,005   *,e  ChemoCentryx, Inc   112,823 
 46,432   *  Chimerix, Inc   185,264 
 30,343   *,e  ChromaDex Corp   121,372 
 11,265   *  Cidara Therapeutics, Inc   133,941 
 33,484   *,e  Clovis Oncology, Inc   478,151 
 31,105   *  Coherus Biosciences, Inc   789,756 
253

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 14,291   *,e  Collegium Pharmaceutical, Inc  $173,350 
 17,323   *  Concert Pharmaceuticals Inc   199,041 
 78,695   *,e  Corcept Therapeutics, Inc   456,431 
 3,551   *  Corvus Pharmaceuticals, Inc   46,696 
 127,105   *  Curis, Inc   213,536 
 35,133   *,e  Cytokinetics, Inc   390,679 
 21,566   *,e  CytomX Therapeutics, Inc   216,954 
 76,356   *,e  CytRx Corp   49,631 
 64,430   *,e  Depomed, Inc   1,222,237 
 22,159   *  Dermira, Inc   743,656 
 12,929   *,e  Dimension Therapeutics, Inc   92,054 
 130,930   *  Durect Corp   254,004 
 40,995   *,e  Dynavax Technologies Corp   632,553 
 9,336   *,e  Eagle Pharmaceuticals, Inc   402,755 
 17,232   *,e  Edge Therapeutics, Inc   167,150 
 7,276   *,e  Editas Medicine, Inc   187,139 
 23,448   *,e  Egalet Corp   173,281 
 3,693   *,e  Eiger BioPharmaceuticals, Inc   71,829 
 34,287   *  Emergent Biosolutions, Inc   1,144,843 
 16,083   *,e  Enanta Pharmaceuticals, Inc   361,707 
 37,543   *,e  Endocyte, Inc   119,387 
 41,743   *  Enzo Biochem, Inc   290,949 
 43,416   *  Epizyme, Inc   449,790 
 15,081   *,e  Esperion Thereapeutics, Inc   163,780 
 102,211   *,e  Exact Sciences Corp   1,776,427 
 240,080   *,e  Exelixis, Inc   2,203,934 
 55,297   *  FibroGen, Inc   1,057,832 
 28,479   *  Five Prime Therapeutics, Inc   1,443,600 
 11,270   *,e  Flex Pharma, Inc   133,549 
 19,481   *,e  Flexion Therapeutics Inc   322,605 
 30,763   *,e  Fluidigm Corp   324,550 
 35,807   *,e  Fortress Biotech, Inc   108,495 
 14,215   *,e  Foundation Medicine, Inc   332,205 
 194,934   *,e  Galena Biopharma, Inc   86,668 
 19,716   *  Genomic Health, Inc   572,355 
 160,088   *,e  Geron Corp   429,036 
 14,876   *,e  Global Blood Therapeutics, Inc   265,983 
 10,680   *  GlycoMimetics Inc   89,178 
 115,108   *,e  Halozyme Therapeutics, Inc   1,144,173 
 33,580   *,e  Heron Therapeutics, Inc   558,100 
 6,434   *  Heska Corp   273,767 
 170,274   *  Horizon Pharma plc   3,284,585 
 100,475   *,e  Idera Pharmaceuticals, Inc   172,817 
 27,890   *  Ignyta, Inc   153,674 
 13,745   *  Immune Design Corp   105,424 
 85,876   *,e  Immunogen, Inc   238,735 
 94,523   *,e  Immunomedics, Inc   250,486 
 77,271   *  Impax Laboratories, Inc   2,427,855 
 43,713   *  INC Research Holdings, Inc   1,945,666 
 52,474   *,e  Infinity Pharmaceuticals, Inc   88,156 
 86,329   e  Innoviva, Inc   1,111,054 
 18,499   *  Inotek Pharmaceuticals Corp   175,370 
 70,446   *,e  Inovio Pharmaceuticals, Inc   696,006 
254

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 63,662   *  Insmed, Inc  $728,930 
 24,772   *,e  Insys Therapeutics, Inc   387,682 
 7,356   *,e  Intellia Therapeutics, Inc   139,176 
 26,951   *  Intersect ENT, Inc   426,904 
 36,211   *,e  Intra-Cellular Therapies, Inc   1,477,409 
 24,119   *,e  Invitae Corp   211,524 
 136,623   *  Ironwood Pharmaceuticals, Inc   1,930,483 
 24,634   *  Karyopharm Therapeutics, Inc   181,799 
 84,416   *,e  Keryx Biopharmaceuticals, Inc   621,302 
 41,371   *,e  Kite Pharma, Inc   2,342,840 
 14,091   *,e  La Jolla Pharmaceutical Co   239,547 
 29,210   *  Lannett Co, Inc   911,936 
 44,558   *,e  Lexicon Pharmaceuticals, Inc   727,187 
 20,102   *,e  Ligand Pharmaceuticals, Inc (Class B)   2,711,358 
 47,610   *  Lion Biotechnologies, Inc   420,872 
 17,406   *,e  Lipocine, Inc   64,228 
 14,050   *  Loxo Oncology, Inc   361,366 
 42,578   *  Luminex Corp   912,447 
 33,630   *  MacroGenics, Inc   1,028,742 
 342,895   *,e  MannKind Corp   339,466 
 25,735   *  Medgenics, Inc   148,491 
 71,052   *,e  Medicines Co   2,778,844 
 31,230   *,e  MediciNova, Inc   193,626 
 128,767   *  Merrimack Pharmaceuticals, Inc   746,849 
 108,965   *,e  MiMedx Group, Inc   816,148 
 16,948   *,e  Minerva Neurosciences, Inc   188,123 
 11,737   *  Mirati Therapeutics, Inc   54,460 
 68,512   *  Momenta Pharmaceuticals, Inc   771,445 
 11,895   *,e  MyoKardia, Inc   210,185 
 71,484   *,e  Myriad Genetics, Inc   2,214,574 
 15,652   *  NanoString Technologies, Inc   212,711 
 17,495   *,e  NantKwest, Inc   119,491 
 27,485   *,e  Natera, Inc   360,053 
 136,673   *  Nektar Therapeutics   2,363,076 
 56,847   *  NeoGenomics, Inc   495,706 
 14,497   *  Neos Therapeutics, Inc   128,008 
 23,540   *  NewLink Genetics Corp   249,053 
 285,094   *,e  Novavax, Inc   2,086,888 
 18,979   *,e  Ocular Therapeutix, Inc   82,938 
 40,157   *,e  Omeros Corp   472,246 
 19,631   *,e  OncoMed Pharmaceuticals, Inc   238,124 
 32,200   *  Ophthotech Corp   2,068,528 
 92,733   *,e  Organovo Holdings, Inc   396,897 
 18,769   e  Osiris Therapeutics, Inc   93,845 
 25,390   *,e  Otonomy, Inc   364,600 
 33,072   *,e  OvaScience, Inc   166,683 
 80,345   *,e  Pacific Biosciences of California, Inc   686,950 
 38,484   *,e  Pacira Pharmaceuticals, Inc   1,395,045 
 15,247      Paratek Pharmaceuticals, Inc   196,229 
 55,529   *  Parexel International Corp   3,712,114 
 173,568      PDL BioPharma, Inc   610,959 
 17,617   *  Pfenex, Inc   142,169 
 65,380   *  PharmAthene, Inc   167,373 
255

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 19,759      Phibro Animal Health Corp  $407,628 
 51,688   *  Portola Pharmaceuticals, Inc   1,341,820 
 25,544   *  PRA Health Sciences, Inc   1,184,731 
 56,186   *  Prestige Brands Holdings, Inc   3,005,951 
 74,413   *,e  Progenics Pharmaceuticals, Inc   435,316 
 6,673   *,e  Proteostasis Therapeutics, Inc   74,070 
 36,644   *,e  Prothena Corp plc   2,017,252 
 36,081   *,e  PTC Therapeutics, Inc   215,404 
 26,065   *  Puma Biotechnology, Inc   1,300,383 
 33,483   *,e  Radius Health, Inc   1,577,719 
 90,103   *  Raptor Pharmaceutical Corp   530,707 
 5,974   *,e  Reata Pharmaceuticals, Inc   95,763 
 21,334   *  REGENXBIO, Inc   174,299 
 40,964   *,e  Regulus Therapeutics, Inc   146,241 
 39,805   *  Relypsa, Inc   1,271,372 
 35,658   *  Repligen Corp   1,019,819 
 38,268   *,e  Retrophin, Inc   686,145 
 21,538   *,e  Revance Therapeutics, Inc   290,548 
 97,947   *  Rigel Pharmaceuticals, Inc   224,299 
 27,966   *,e  Sage Therapeutics, Inc   1,254,555 
 27,184   *  Sagent Pharmaceuticals   589,621 
 73,761   *,e  Sangamo Biosciences, Inc   466,907 
 45,317   *,e  Sarepta Therapeutics, Inc   1,145,614 
 52,885   *  Sciclone Pharmaceuticals, Inc   558,466 
 18,796   *  Seres Therapeutics, Inc   205,628 
 30,624   *,e  Sorrento Therapeutics, Inc   192,625 
 18,102   *,e  Spark Therapeutics, Inc   1,048,830 
 70,565   *  Spectrum Pharmaceuticals, Inc   484,782 
 15,450   *,e  Stemline Therapeutics, Inc   114,330 
 25,678   *  Sucampo Pharmaceuticals, Inc (Class A)   301,716 
 49,541   *  Supernus Pharmaceuticals, Inc   1,100,801 
 4,911   *,e  Syndax Pharmaceuticals, Inc   60,995 
 191,476   *,e  Synergy Pharmaceuticals, Inc   781,222 
 79,727   *,e  Synthetic Biologics, Inc   139,522 
 15,511   *,e  T2 Biosystems, Inc   87,792 
 45,000   *,e  Teligent, Inc   365,400 
 28,165   *  TESARO, Inc   2,626,105 
 41,531   *  Tetraphase Pharmaceuticals, Inc   166,955 
 39,309   *,e  TG Therapeutics, Inc   232,316 
 158,409   *,e  TherapeuticsMD, Inc   1,230,838 
 38,276   *,e  Theravance Biopharma, Inc   976,421 
 19,946   *,e  Titan Pharmaceuticals, Inc   98,932 
 9,351   *,e  Tobira Therapeutics, Inc   40,303 
 9,184   *,e  Tokai Pharmaceuticals, Inc   11,572 
 47,174   *  Trevena, Inc   295,781 
 29,211   *,e  Trovagene, Inc   164,458 
 38,157   *,e  Ultragenyx Pharmaceutical, Inc   2,414,575 
 39,430   *  Vanda Pharmaceuticals, Inc   449,502 
 28,895   *  Versartis, Inc   332,292 
 27,730   *  Vitae Pharmaceuticals, Inc   295,324 
 23,699   *,e  Vital Therapies, Inc   147,408 
 12,381   *  Voyager Therapeutics, Inc   182,496 
 5,470   *  vTv Therapeutics, Inc   30,960 
256

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
               
 7,766   *  WaVe Life Sciences Pte Ltd  $149,961 
 18,425   *,e  XBiotech, Inc   262,925 
 33,981   *  Xencor Inc   643,600 
 24,149   *,e  Zafgen, Inc   73,413 
 128,337   *,e  ZIOPHARM Oncology, Inc   623,718 
 24,312   *  Zogenix, Inc   221,969 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   139,622,183 
               
REAL ESTATE - 9.6%        
 74,777      Acadia Realty Trust   2,816,102 
 29,796      AG Mortgage Investment Trust   446,344 
 23,806      Agree Realty Corp   1,207,440 
 49,418      Alexander & Baldwin, Inc   1,947,069 
 2,258      Alexander’s, Inc   969,292 
 12,163   *,e  Altisource Portfolio Solutions S.A.   282,911 
 56,056      Altisource Residential Corp   538,138 
 41,278      American Assets Trust,Inc   1,893,835 
 48,585      American Capital Mortgage, Inc   794,851 
 104,621      Anworth Mortgage Asset Corp   514,735 
 60,900      Apollo Commercial Real Estate Finance, Inc   989,625 
 28,930      Ares Commercial Real Estate Corp   367,411 
 33,876      Armada Hoffler Properties, Inc   507,124 
 38,162      ARMOUR Residential REIT, Inc   812,087 
 27,326      Ashford Hospitality Prime, Inc   410,983 
 82,127      Ashford Hospitality Trust, Inc   489,477 
 11,871   *,e  AV Homes, Inc   169,993 
 19,791      Bluerock Residential Growth REIT, Inc   263,616 
 98,527      Capstead Mortgage Corp   980,344 
 60,720      CareTrust REIT, Inc   877,404 
 42,821      CatchMark Timber Trust Inc   518,562 
 177,984      CBL & Associates Properties, Inc   2,187,423 
 87,019      Cedar Realty Trust, Inc   699,633 
 39,461      Chatham Lodging Trust   946,275 
 62,752      Chesapeake Lodging Trust   1,585,743 
 19,827      City Office REIT, Inc   268,854 
 118,089      Colony Financial, Inc   2,099,622 
 68,646      Colony Starwood Homes   2,248,843 
 13,332      Community Healthcare Trust, Inc   306,503 
 4,072   e  Consolidated-Tomoka Land Co   199,243 
 12,935      CorEnergy Infrastructure Trust, Inc   380,548 
 35,394      Coresite Realty   2,921,067 
 218,970      Cousins Properties, Inc   2,329,841 
 160,048      CYS Investments, Inc   1,432,430 
 211,880      DiamondRock Hospitality Co   2,080,662 
 78,754      DuPont Fabros Technology, Inc   3,766,804 
 47,315      Dynex Capital, Inc   332,151 
 33,778      Easterly Government Properties, Inc   692,111 
 33,426      EastGroup Properties, Inc   2,460,822 
 70,095      Education Realty Trust, Inc   3,374,373 
 12,284      Farmland Partners, Inc   144,705 
 145,696      FelCor Lodging Trust, Inc   925,170 
 122,652      First Industrial Realty Trust, Inc   3,614,554 
 62,472      First Potomac Realty Trust   631,592 
257

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 35,244   *,e  Forestar Group, Inc  $432,796 
 63,765      Four Corners Property Trust, Inc   1,384,338 
 102,966      Franklin Street Properties Corp   1,320,024 
 6,621   *  FRP Holdings, Inc   240,872 
 78,221      Geo Group, Inc   2,707,229 
 27,641      Getty Realty Corp   628,003 
 25,128      Gladstone Commercial Corp   457,330 
 180,151   *  Global Net Lease, Inc   1,572,718 
 74,589      Government Properties Income Trust   1,779,694 
 445,968      Gramercy Property Trust   4,455,220 
 12,888      Great Ajax Corp   178,499 
 765      Griffin Land & Nurseries, Inc (Class A)   24,625 
 38,189      Hannon Armstrong Sustainable Infrastructure Capital, Inc   858,871 
 120,221      Healthcare Realty Trust, Inc   4,347,191 
 43,771      Hersha Hospitality Trust   827,272 
 98,534      Hudson Pacific Properties   3,331,435 
 41,640      Independence Realty Trust, Inc   376,426 
 118,584      Invesco Mortgage Capital, Inc   1,707,610 
 126,109      Investors Real Estate Trust   834,842 
 76,790   *  iStar Financial, Inc   795,544 
 87,492      Kennedy-Wilson Holdings, Inc   1,841,707 
 87,268      Kite Realty Group Trust   2,653,820 
 40,377      Ladder Capital Corp   527,324 
 112,656      LaSalle Hotel Properties   3,103,673 
 242,697      Lexington Realty Trust   2,638,116 
 39,797      LTC Properties, Inc   2,130,333 
 94,272      Mack-Cali Realty Corp   2,658,470 
 15,337   *  Marcus & Millichap, Inc   410,878 
 248,814      Medical Properties Trust, Inc   3,906,380 
 66,523      Monmouth Real Estate Investment Corp (Class A)   919,348 
 177,849      Monogram Residential Trust, Inc   1,904,763 
 39,224      National Health Investors, Inc   3,081,830 
 36,683      National Storage Affiliates Trust   783,916 
 236,092      New Residential Investment Corp   3,227,378 
 81,054      New Senior Investment Group, Inc   971,837 
 113,943      New York Mortgage Trust, Inc   745,187 
 174,562      New York REIT, Inc   1,665,321 
 18,945      NexPoint Residential Trust, Inc   369,238 
 62,994      NorthStar Realty Europe Corp   582,694 
 14,556      One Liberty Properties, Inc   364,191 
 22,189      Orchid Island Capital, Inc   247,629 
 10,274      Owens Realty Mortgage, Inc   171,781 
 84,630      Parkway Properties, Inc   1,470,023 
 75,482      Pebblebrook Hotel Trust   2,238,041 
 72,416      Pennsylvania REIT   1,842,263 
 72,859      Pennymac Mortgage Investment Trust   1,182,502 
 142,575      Physicians Realty Trust   3,096,729 
 42,819      Potlatch Corp   1,637,827 
 23,978      Preferred Apartment Communities, Inc   356,553 
 20,977      PS Business Parks, Inc   2,326,140 
 49,429      QTS Realty Trust, Inc   2,829,810 
 97,005      RAIT Investment Trust   307,506 
 83,181      Ramco-Gershenson Properties   1,650,311 

258

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
            
 18,742      Re/Max Holdings, Inc  $811,903 
 80,513      Redwood Trust, Inc   1,148,920 
 32,662      Resource Capital Corp   444,530 
 113,507      Retail Opportunities Investment Corp   2,591,365 
 69,292      Rexford Industrial Realty, Inc   1,584,015 
 128,740      RLJ Lodging Trust   3,056,288 
 6,966      RMR Group, Inc   237,157 
 45,821      Ryman Hospitality Properties   2,576,973 
 67,926      Sabra Healthcare REIT, Inc   1,624,111 
 10,321      Saul Centers, Inc   693,262 
 65,625      Select Income REIT   1,821,750 
 26,346      Seritage Growth Properties   1,318,881 
 35,697      Silver Bay Realty Trust Corp   643,260 
 53,689   *,e  St. Joe Co   989,488 
 72,542   *  STAG Industrial, Inc   1,841,116 
 6,594   *  Stratus Properties, Inc   115,988 
 91,366      Summit Hotel Properties, Inc   1,295,570 
 229,386      Sunstone Hotel Investors, Inc   3,050,834 
 14,674   *  Tejon Ranch Co   385,486 
 45,037      Terreno Realty Corp   1,254,280 
 50,434      Tier REIT, Inc   879,065 
 20,545   *  Trinity Place Holdings, Inc   167,031 
 25,715      UMH Properties, Inc   317,837 
 30,228   m  United Development Funding IV   96,730 
 13,357      Universal Health Realty Income Trust   797,012 
 94,794      Urban Edge Properties   2,835,289 
 28,362      Urstadt Biddle Properties, Inc (Class A)   700,541 
 77,484      Washington REIT   2,656,926 
 42,291      Western Asset Mortgage Capital Corp   416,143 
 26,674      Whitestone REIT   431,319 
 195,936      WP GLIMCHER, Inc   2,484,468 
 109,193      Xenia Hotels & Resorts, Inc   1,961,106 
        TOTAL REAL ESTATE   176,759,014 
         
RETAILING - 3.7%        
 27,914   *  1-800-FLOWERS.COM, Inc (Class A)   254,855 
 69,273      Aaron’s, Inc   1,659,088 
 71,637      Abercrombie & Fitch Co (Class A)   1,483,602 
 175,854   e  American Eagle Outfitters, Inc   3,151,304 
 8,046   *,e  America’s Car-Mart, Inc   282,254 
 21,089   *  Asbury Automotive Group, Inc   1,282,211 
 182,587   *  Ascena Retail Group, Inc   1,484,432 
 42,324   *  Barnes & Noble Education, Inc   489,265 
 66,729      Barnes & Noble, Inc   872,815 
 17,760      Big 5 Sporting Goods Corp   187,546 
 46,782   e  Big Lots, Inc   2,487,867 
 11,975      Blue Nile, Inc   347,993 
 12,382   *,e  Boot Barn Holdings, Inc   133,230 
 30,182   e  Buckle, Inc   826,685 
 13,582   *  Build-A-Bear Workshop, Inc   185,123 
 45,222      Caleres, Inc   1,190,243 
 27,129      Cato Corp (Class A)   970,404 
 137,726      Chico’s FAS, Inc   1,654,089 
259

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
               
 19,779      Children’s Place Retail Stores, Inc  $1,653,129 
 15,428      Citi Trends, Inc   257,339 
 21,550   *,e  Conn’s, Inc   153,221 
 17,435   *  Container Store Group, Inc   96,416 
 48,110      Core-Mark Holding Co, Inc   2,355,466 
 38,739   *  Destination XL Group, Inc   199,893 
 71,005      DSW, Inc (Class A)   1,722,581 
 10,139   *  Duluth Holdings, Inc   251,447 
 110,762   *  Etsy, Inc   1,114,266 
 78,491   *  Express Parent LLC   1,174,225 
 44,921      Finish Line, Inc (Class A)   976,133 
 56,681   *  Five Below, Inc   2,891,298 
 43,084   *  Francesca’s Holdings Corp   547,598 
 37,862      Fred’s, Inc (Class A)   601,627 
 18,115   *  FTD Cos, Inc   458,491 
 21,679   *  Genesco, Inc   1,504,956 
 72,429      GNC Holdings, Inc   1,478,276 
 21,947      Group 1 Automotive, Inc   1,367,737 
 64,555      Guess?, Inc   950,250 
 19,812      Haverty Furniture Cos, Inc   365,135 
 24,195   *,e  Hibbett Sports, Inc   844,889 
 33,095      HSN, Inc   1,693,140 
 15,783      Kirkland’s, Inc   240,533 
 16,071   *,e  Lands’ End, Inc   228,369 
 76,811   *  Liberty TripAdvisor Holdings, Inc   1,818,116 
 25,058      Lithia Motors, Inc (Class A)   2,162,255 
 27,029   *,e  Lumber Liquidators, Inc   406,246 
 26,143   *  MarineMax, Inc   528,089 
 17,903   *,e  Mattress Firm Holding Corp   534,226 
 33,250      Monro Muffler, Inc   2,082,115 
 30,765      Nutri/System, Inc   910,029 
 584,408   *  Office Depot, Inc   2,022,052 
 21,367   *,e  Ollie’s Bargain Outlet Holdings, Inc   558,533 
 17,945   e  Outerwall, Inc   944,984 
 13,924   *  Overstock.com, Inc   226,961 
 28,422   *,e  Party City Holdco, Inc   455,320 
 21,323   e  PetMed Express, Inc   442,026 
 85,656   e  Pier 1 Imports, Inc   438,559 
 55,129      Rent-A-Center, Inc   595,393 
 40,832   *,e  Restoration Hardware Holdings, Inc   1,258,034 
 11,940   *,e  Sears Holdings Corp   183,995 
 11,767   *  Sears Hometown and Outlet Stores, Inc   80,957 
 49,114   *  Select Comfort Corp   1,171,860 
 14,764      Shoe Carnival, Inc   388,441 
 36,761   *  Shutterfly, Inc   1,955,318 
 29,545      Sonic Automotive, Inc (Class A)   537,128 
 27,147   *,e  Sportsman’s Warehouse Holdings, Inc   276,356 
 27,647   e  Stage Stores, Inc   163,947 
 32,965      Stein Mart, Inc   283,499 
 51,608      Tailored Brands, Inc   756,057 
 34,373   *  Tile Shop Holdings, Inc   586,060 
 10,913   *  Tilly’s, Inc   62,095 
 47,408   *  Tuesday Morning Corp   374,049 
260

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 25,483   *  Vitamin Shoppe, Inc  $745,633 
 33,304   *,e  Wayfair, Inc   1,448,724 
 17,573   *  West Marine, Inc   153,939 
 2,375      Winmark Corp   238,854 
 19,728   *,e  Zumiez, Inc   334,981 
        TOTAL RETAILING   67,194,252 
               
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.3%        
 5,517   *,e  Acacia Communications, Inc   358,770 
 41,837   *  Advanced Energy Industries, Inc   1,703,603 
 692,260   *,e  Advanced Micro Devices, Inc   4,748,903 
 19,704   *  Alpha & Omega Semiconductor Ltd   281,570 
 33,813   *,e  Ambarella, Inc   1,960,478 
 105,555   *  Amkor Technology, Inc   663,941 
 78,351   *  Applied Micro Circuits Corp   515,550 
 30,791   *  Axcelis Technologies, Inc   329,464 
 71,766      Brooks Automation, Inc   899,228 
 24,930      Cabot Microelectronics Corp   1,311,817 
 59,408   *,e  Cavium, Inc   2,772,571 
 21,346   *  Ceva, Inc   641,661 
 16   *,m  China Energy Savings Technology, Inc   0 
 66,119   *  Cirrus Logic, Inc   3,212,722 
 27,774      Cohu, Inc   293,293 
 40,525   *  Diodes, Inc   750,118 
 22,803   *  DSP Group, Inc   246,956 
 149,239   *  Entegris, Inc   2,550,495 
 42,996   *  Exar Corp   360,306 
 121,754   *  Fairchild Semiconductor International, Inc   2,403,424 
 72,597   *  Formfactor, Inc   678,782 
 49,213   *  GigOptix, Inc   93,013 
 42,403   *  Inphi Corp   1,491,738 
 142,284   *  Integrated Device Technology, Inc   3,128,825 
 141,810      Intersil Corp (Class A)   2,166,857 
 26,552      IXYS Corp   290,479 
 68,467   *  Kopin Corp   159,528 
 126,773   *  Lattice Semiconductor Corp   761,906 
 24,594   *  MA-COM Technology Solutions   971,709 
 58,985   *  MaxLinear, Inc   1,286,463 
 120,110   *  Microsemi Corp   4,684,290 
 56,201      MKS Instruments, Inc   2,567,262 
 41,117      Monolithic Power Systems, Inc   2,990,028 
 25,001   *  Nanometrics, Inc   501,020 
 32,544   *  NeoPhotonics Corp Ltd   408,427 
 4,803      NVE Corp   273,963 
 28,541   *  PDF Solutions, Inc   470,926 
 68,555   *  Photronics, Inc   662,241 
 29,059      Power Integrations, Inc   1,658,397 
 114,971   *  Rambus, Inc   1,554,408 
 31,230   *  Rudolph Technologies, Inc   550,273 
 68,221   *  Semtech Corp   1,734,178 
 37,866   *  Sigma Designs, Inc   253,702 
 43,675   *  Silicon Laboratories, Inc   2,327,004 
 52,308      Tessera Technologies, Inc   1,681,179 
261

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 32,683   *  Ultra Clean Holdings  $208,844 
 23,063   *  Ultratech, Inc   563,660 
 41,611   *  Veeco Instruments, Inc   697,816 
 55,509   *  Xcerra Corp   338,605 
        TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   61,160,393 
               
SOFTWARE & SERVICES - 8.8%        
 38,735   *,e  2U, Inc   1,354,950 
 46,625   *  A10 Networks, Inc   364,608 
 121,780   *  ACI Worldwide, Inc   2,412,462 
 39,588   *  Actua Corp   395,088 
 81,837   *  Acxiom Corp   1,878,159 
 10,895   *,e  Alarm.com Holdings, Inc   313,013 
 19,683   *,e  ALJ Regional Holdings, Inc   95,069 
 16,648   *,e  Amber Road, Inc   146,835 
 27,198   *  American Software, Inc (Class A)   299,994 
 42,708   *,e  Angie’s List, Inc   345,508 
 16,292   *  Apigee Corp   202,673 
 8,050   *  Appfolio, Inc   129,444 
 87,402   *  Aspen Technology, Inc   3,661,270 
 9,141   *  Autobytel, Inc   135,835 
 44,424   *  AVG Technologies NV   1,098,606 
 50,405   *  Bankrate, Inc   401,728 
 23,273   *  Barracuda Networks, Inc   513,868 
 86,532   *  Bazaarvoice, Inc   359,108 
 13,605   *,e  Benefitfocus, Inc   585,015 
 49,846      Blackbaud, Inc   3,332,205 
 58,003   *  Blackhawk Network Holdings, Inc   2,017,924 
 43,221   *  Blucora, Inc   441,286 
 42,307   *  Bottomline Technologies, Inc   893,101 
 51,529   *,e  Box, Inc   600,313 
 32,594   *  Brightcove, Inc   341,259 
 31,060   *  BroadSoft, Inc   1,392,420 
 25,674   *  CACI International, Inc (Class A)   2,447,502 
 58,715   *  Callidus Software, Inc   1,205,419 
 17,791   *  Carbonite, Inc   195,879 
 47,598   *  Cardtronics plc   2,093,836 
 18,583   *  Care.com, Inc   204,227 
 11,777      Cass Information Systems, Inc   612,051 
 23,364   *  ChannelAdvisor Corp   368,217 
 26,498   *  Cimpress NV   2,512,010 
 41,084   *  Commvault Systems, Inc   2,125,686 
 50,774   *  comScore, Inc   1,317,585 
 93,942      Convergys Corp   2,503,554 
 53,269   *  Cornerstone OnDemand, Inc   2,300,688 
 34,240      CSG Systems International, Inc   1,378,502 
 31,827   *  Cvent, Inc   1,038,197 
 20,219   *  Datalink Corp   173,479 
 52,902   *  DHI Group, Inc   385,656 
 8,542   *,e  Digimarc Corp   311,014 
 110,919      EarthLink Holdings Corp   752,031 
 26,705   e  Ebix, Inc   1,423,911 

262

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 31,111   *  Ellie Mae, Inc  $2,865,634 
 63,529   *  Endurance International Group Holdings, Inc   570,490 
 26,484   *,e  EnerNOC, Inc   198,100 
 43,736   *  Envestnet, Inc   1,669,403 
 50,954   *  EPAM Systems, Inc   3,579,009 
 25,382      EPIQ Systems, Inc   414,742 
 67,205      EVERTEC, Inc   1,155,926 
 29,954   *  Everyday Health, Inc   244,425 
 14,638   *  EXA Corp   213,715 
 34,489   *  ExlService Holdings, Inc   1,707,550 
 32,713      Fair Isaac Corp   4,142,774 
 34,823   *  Five9, Inc   439,118 
 41,373   *  FleetMatics Group plc   1,777,384 
 10,412      Forrester Research, Inc   426,163 
 34,305   *  Gigamon, Inc   1,602,730 
 8,603   *  Global Sources Ltd   77,255 
 27,113   *,e  Globant S.A.   1,143,898 
 110,538   *,e  Glu Mobile, Inc   258,659 
 59,360   *,e  Gogo, Inc   499,218 
 85,254   *,e  GrubHub, Inc   3,232,832 
 27,842   *  GTT Communications, Inc   571,596 
 23,852   *  Guidance Software, Inc   140,250 
 23,423      Hackett Group, Inc   313,634 
 32,386   *  Higher One Holdings, Inc   166,140 
 42,523   *,e  Hortonworks, Inc   497,944 
 30,453   *  HubSpot, Inc   1,662,429 
 30,265   *  Imperva, Inc   1,426,087 
 62,112   *  inContact, Inc   863,357 
 59,781   *  Infoblox, Inc   1,119,100 
 32,777   *,e  Information Services Group, Inc   124,225 
 11,111   *,e  Instructure, Inc   241,553 
 18,978   *,e  Interactive Intelligence, Inc   1,023,863 
 43,742   *  Intralinks Holdings, Inc   304,444 
 49,466      j2 Global, Inc   3,306,307 
 60,877   *  Jive Software, Inc   231,333 
 74,498   *  Limelight Networks, Inc   125,902 
 61,565   *  Lionbridge Technologies   277,658 
 24,779   *  Liquidity Services, Inc   200,214 
 57,319   *  Liveperson, Inc   382,604 
 26,592   *  LogMeIn, Inc   2,284,519 
 6,072   *  Majesco   34,550 
 26,093      Mantech International Corp (Class A)   1,030,934 
 31,255      Marchex, Inc (Class B)   99,078 
 43,835   *  Marketo, Inc   1,542,115 
 67,830      MAXIMUS, Inc   3,996,544 
 43,543   *  MeetMe, Inc   279,982 
 113,130      Mentor Graphics Corp   2,416,457 
 10,021   *  MicroStrategy, Inc (Class A)   1,752,573 
 15,191   *,e  MINDBODY, Inc   266,906 
 31,032   *,e  Mitek Systems, Inc   234,292 
 44,215   *  MobileIron, Inc   150,773 
 23,694   *  Model N, Inc   305,890 
 31,265   *  MoneyGram International, Inc   217,604 

263

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 42,817      Monotype Imaging Holdings, Inc  $847,348 
 93,261   *  Monster Worldwide, Inc   235,950 
 6,318      NCI, Inc (Class A)   80,175 
 56,843   *,e  NeuStar, Inc (Class A)   1,431,875 
 23,183   *  New Relic, Inc   798,423 
 67,450      NIC, Inc   1,572,934 
 14,612   *,e  Numerex Corp   111,490 
 13,643   *,e  Park City Group, Inc   133,429 
 46,476   *,e  Paycom Software, Inc   2,194,132 
 22,762   *,e  Paylocity Holding Corp   1,016,096 
 38,080      Pegasystems, Inc   1,062,432 
 36,430   *  Perficient, Inc   809,475 
 15,484   *  PFSweb, Inc   153,446 
 44,793   *  Planet Payment, Inc   210,079 
 53,031   *  Progress Software Corp   1,541,081 
 43,083   *,e  Proofpoint, Inc   3,268,707 
 26,602   *  PROS Holdings, Inc   494,265 
 26,969   *  Q2 Holdings, Inc   800,440 
 9,874      QAD, Inc (Class A)   186,816 
 99,117   *  QLIK Technologies, Inc   2,993,333 
 28,698   *  Qualys, Inc   900,830 
 34,576   *  QuinStreet, Inc   125,511 
 67,688   *,e  Quotient Technology, Inc   856,930 
 20,943   *  Rapid7, Inc   292,783 
 21,714   *  RealNetworks, Inc   94,022 
 57,022   *  RealPage, Inc   1,434,103 
 9,196      Reis, Inc   232,475 
 40,681   *  RetailMeNot, Inc   339,686 
 12,239   *  Rightside Group Ltd   146,868 
 61,869   *  RingCentral, Inc   1,424,843 
 20,473   *  Rosetta Stone, Inc   157,642 
 84,547   *  Rovi Corp   1,590,329 
 39,299   *  Rubicon Project, Inc   554,902 
 25,634      Sapiens International Corp NV   327,603 
 44,670      Science Applications International Corp   2,714,149 
 6,355   *  SecureWorks Corp   94,118 
 64,377   *,e  ServiceSource International LLC   290,984 
 20,327   *,e  Shutterstock, Inc   1,119,814 
 39,927   *,e  Silver Spring Networks, Inc   501,882 
 17,489   *  SPS Commerce, Inc   1,107,404 
 17,081   *,e  Stamps.com, Inc   1,294,825 
 40,852   *  Sykes Enterprises, Inc   1,253,748 
 43,568   *  Synchronoss Technologies, Inc   1,626,829 
 34,095   *  Syntel, Inc   1,544,844 
 88,060   *  Take-Two Interactive Software, Inc   3,538,251 
 29,931   *  Tangoe, Inc   242,142 
 18,841   *  TechTarget, Inc   171,830 
 34,344   *  TeleNav, Inc   171,033 
 17,545      TeleTech Holdings, Inc   500,734 
 99,821   *  TiVo, Inc   1,052,113 
 121,895      Travelport Worldwide Ltd   1,644,364 
 57,377   *,e  TrueCar, Inc   537,623 
 23,162   *,e  TubeMogul, Inc   259,646 

264

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 53,073   *,e  Unisys Corp  $525,953 
 11,263   *  Varonis Systems, Inc   289,347 
 31,857   *,e  Vasco Data Security International   532,331 
 65,586   *  Verint Systems, Inc   2,313,218 
 51,933   *,e  VirnetX Holding Corp   224,870 
 29,286   *  Virtusa Corp   796,579 
 39,401   *,e  WebMD Health Corp (Class A)   2,403,855 
 45,455   *  Website Pros, Inc   857,281 
 23,216   *,e  Workiva, Inc   323,631 
 24,101   *  Xactly Corp   299,334 
 27,559   *  XO Group, Inc   502,401 
 25,136   *  Xura, Inc   624,630 
 85,687   *,e  Zendesk, Inc   2,591,175 
 56,021   *  Zix Corp   227,445 
        TOTAL SOFTWARE & SERVICES   161,469,903 
               
TECHNOLOGY HARDWARE & EQUIPMENT - 5.1%        
 113,256   *,e  3D Systems Corp   1,516,498 
 51,546      Adtran, Inc   938,137 
 22,655   *  Aerohive Networks, Inc   165,608 
 15,013   *  Agilysys, Inc   171,448 
 30,589   *  Anixter International, Inc   1,874,494 
 17,493   *,e  Applied Optoelectronics, Inc   207,117 
 36,618   *  Avid Technology, Inc   238,383 
 49,470      AVX Corp   675,760 
 14,886      Badger Meter, Inc   1,038,150 
 9,564      Bel Fuse, Inc (Class B)   195,966 
 44,021      Belden CDT, Inc   3,222,777 
 52,206   *  Benchmark Electronics, Inc   1,223,709 
 15,785      Black Box Corp   215,465 
 37,373   *  CalAmp Corp   530,697 
 43,314   *  Calix, Inc   334,384 
 145,016   *  Ciena Corp   2,782,857 
 12,064   *,e  Clearfield, Inc   241,401 
 25,543   *  Coherent, Inc   2,708,835 
 15,632      Comtech Telecommunications Corp   204,310 
 20,292   *,e  Control4 Corp   176,743 
 22,215   e  CPI Card Group, Inc   104,855 
 42,287   *  Cray, Inc   1,334,578 
 32,766      CTS Corp   626,158 
 36,739      Daktronics, Inc   237,701 
 63,060      Diebold, Inc   1,780,814 
 27,359   *  Digi International, Inc   303,958 
 18,383   *  DTS, Inc   510,864 
 17,155   *  Eastman Kodak Co   290,606 
 17,917      Electro Rent Corp   277,176 
 29,130      Electro Scientific Industries, Inc   197,210 
 49,385   *  Electronics for Imaging, Inc   2,187,262 
 27,578   *  EMCORE Corp   178,705 
 6,678   *  ePlus, Inc   561,687 
 109,021   *  Extreme Networks, Inc   424,092 
 36,438   *  Fabrinet   1,375,899 
 17,943   *  FARO Technologies, Inc   625,852 

265

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 113,484   *  Finisar Corp  $2,128,960 
 82,621   *,e  Harmonic, Inc   271,823 
 62,861   *  II-VI, Inc   1,263,506 
 32,037   *  Immersion Corp   240,598 
 148,277   *  Infinera Corp   1,298,906 
 38,714   *  Insight Enterprises, Inc   1,029,792 
 36,578      InterDigital, Inc   2,159,931 
 86,395   *  InvenSense, Inc   585,758 
 35,453   *  Itron, Inc   1,513,489 
 67,736   *  Ixia   778,964 
 28,451   *  Kimball Electronics, Inc   359,052 
 93,269   *  Knowles Corp   1,253,535 
 16,067   *  KVH Industries, Inc   145,728 
 23,412      Littelfuse, Inc   2,926,968 
 53,352   *  Lumentum Holdings, Inc   1,613,898 
 33,182   *,e  Maxwell Technologies, Inc   182,501 
 3,161   e  Mesa Laboratories, Inc   365,506 
 38,613      Methode Electronics, Inc   1,352,613 
 15,749      MTS Systems Corp   746,975 
 34,170   *  Netgear, Inc   1,757,363 
 94,206   *  Netscout Systems, Inc   2,635,884 
 66,548   *,e  Nimble Storage, Inc   495,117 
 33,593   *  Novanta, Inc   527,746 
 104,123   *,e  Oclaro, Inc   596,625 
 18,563   *  OSI Systems, Inc   1,103,942 
 20,087      Park Electrochemical Corp   325,409 
 12,008      PC Connection, Inc   309,926 
 35,356      Plantronics, Inc   1,705,573 
 35,188   *  Plexus Corp   1,616,537 
 143,727   *  Polycom, Inc   1,780,778 
 64,430   *,e  Pure Storage, Inc   811,818 
 88,569   *  QLogic Corp   1,374,591 
 37,439   *  Radisys Corp   180,456 
 28,436   *  Rofin-Sinar Technologies, Inc   898,578 
 19,109   *  Rogers Corp   1,307,820 
 77,583   *  Sanmina Corp   1,965,953 
 26,546   *  Scansource, Inc   1,089,182 
 70,907   *  ShoreTel, Inc   520,457 
 5,945   e  Silicom Ltd   215,566 
 38,239   *  Silicon Graphics International Corp   206,491 
 51,488   *  Sonus Networks, Inc   443,827 
 51,954   *,e  Stratasys Ltd   1,087,917 
 40,815   *  Super Micro Computer, Inc   879,563 
 39,170   *  Synaptics, Inc   2,034,881 
 30,769      SYNNEX Corp   3,093,208 
 10,728   *  Systemax, Inc   96,016 
 36,944   *  Tech Data Corp   2,879,046 
 76,603   *  TTM Technologies, Inc   762,200 
 27,430   e  Ubiquiti Networks, Inc   1,226,670 
 43,785   *  Universal Display Corp   3,101,729 
 37,979   *,e  USA Technologies, Inc   179,261 
 46,923   *,e  Viasat, Inc   3,464,325 
 247,582   *  Viavi Solutions, Inc   1,765,260 
266

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
               
 143,984      Vishay Intertechnology, Inc  $1,919,307 
 12,081   *  Vishay Precision Group, Inc   158,865 
        TOTAL TECHNOLOGY HARDWARE & EQUIPMENT   94,416,546 
               
TELECOMMUNICATION SERVICES - 0.9%        
 92,219   *  8x8, Inc   1,268,011 
 11,126      ATN International, Inc   817,984 
 35,687   *  Boingo Wireless, Inc   326,893 
 221,263   *  Cincinnati Bell, Inc   1,106,315 
 43,861      Cogent Communications Group, Inc   1,874,181 
 52,418   e  Consolidated Communications Holdings, Inc   1,465,083 
 22,298   *  Fairpoint Communications, Inc   361,005 
 30,849   *  General Communication, Inc (Class A)   474,766 
 397,297   *,e  Globalstar, Inc   472,783 
 6,596   *  Hawaiian Telcom Holdco, Inc   146,431 
 18,373      IDT Corp (Class B)   280,372 
 34,880      Inteliquent, Inc   716,784 
 86,713   *,e  Iridium Communications, Inc   778,683 
 20,928   *  Lumos Networks Corp   244,858 
 56,195   *  NII Holdings, Inc   170,833 
 68,204   *  Orbcomm, Inc   722,280 
 10,481   *  pdvWireless, Inc   225,342 
 48,855      Shenandoah Telecom Co   2,006,963 
 21,384      Spok Holdings, Inc   395,176 
 9,738   *,e  Straight Path Communications, Inc   177,621 
 68   *,m  Touch America Holdings, Inc   0 
 201,697   *  Vonage Holdings Corp   1,196,063 
 102,001   e  Windstream Holdings, Inc   949,629 
        TOTAL TELECOMMUNICATION SERVICES   16,178,056 
         
TRANSPORTATION - 1.5%        
 53,428   *  Air Transport Services Group, Inc   773,637 
 13,972      Allegiant Travel Co   1,813,146 
 25,630      Arkansas Best Corp   479,537 
 25,873   *  Atlas Air Worldwide Holdings, Inc   1,118,490 
 29,683      Celadon Group, Inc   245,182 
 27,247      Costamare, Inc   266,748 
 12,525   *  Covenant Transportation Group, Inc   282,188 
 30,398   *  Echo Global Logistics, Inc   752,654 
 31,577      Forward Air Corp   1,461,383 
 55,622   *  Hawaiian Holdings, Inc   2,532,470 
 48,961   e  Heartland Express, Inc   906,758 
 35,449   *  Hub Group, Inc (Class A)   1,451,282 
 70,635      Knight Transportation, Inc   2,107,042 
 24,395      Marten Transport Ltd   528,152 
 45,687      Matson, Inc   1,707,323 
 3,157   *  PAM Transportation Services, Inc   63,235 
 9,023      Park-Ohio Holdings Corp   268,705 
 40,018   *  Radiant Logistics, Inc   126,457 
 32,126   *  Roadrunner Transportation Services Holdings, Inc   243,194 
 26,610   *  Saia, Inc   768,763 
 53,019      Skywest, Inc   1,525,357 
 78,927   *,e  Swift Transportation Co, Inc   1,519,345 
267

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY  VALUE 
           
 8,612      Universal Truckload Services, Inc  $128,749 
 9,571   *  USA Truck, Inc   184,529 
 20,411   *,e  Virgin America, Inc   1,141,383 
 47,164      Werner Enterprises, Inc   1,184,760 
 59,162   *  Wesco Aircraft Holdings, Inc   760,232 
 103,409   *,e  XPO Logistics, Inc   3,062,975 
 35,888   *  YRC Worldwide, Inc   425,990 
        TOTAL TRANSPORTATION   27,829,666 
         
UTILITIES - 4.0%        
 52,228      Allete, Inc   3,334,758 
 38,693      American States Water Co   1,671,538 
 8,771      Artesian Resources Corp   299,003 
 128,908   e  Atlantic Power Corp   324,848 
 62,106   e  Atlantica Yield plc   1,251,436 
 66,629      Avista Corp   2,898,361 
 54,500   e  Black Hills Corp   3,436,225 
 50,961      California Water Service Group   1,718,915 
 15,591      Chesapeake Utilities Corp   998,915 
 11,699      Connecticut Water Service, Inc   597,234 
 14,359      Consolidated Water Co, Inc   192,841 
 7,180      Delta Natural Gas Co, Inc   189,480 
 123,396   *  Dynegy, Inc   1,866,981 
 42,464      El Paso Electric Co   2,024,684 
 46,595      Empire District Electric Co   1,571,649 
 12,088   e  Genie Energy Ltd   77,605 
 8,631   e  Global Water Resources, Inc   73,018 
 53,124      Idacorp, Inc   4,295,075 
 36,973      MGE Energy, Inc   2,076,034 
 17,036      Middlesex Water Co   703,757 
 90,651      New Jersey Resources Corp   3,375,843 
 28,825      Northwest Natural Gas Co   1,871,896 
 51,115      NorthWestern Corp   3,104,725 
 36,598      NRG Yield, Inc (Class A)   628,754 
 66,029   e  NRG Yield, Inc (Class C)   1,184,560 
 54,760      ONE Gas, Inc   3,557,210 
 41,044      Ormat Technologies, Inc   1,873,248 
 40,220      Otter Tail Corp   1,401,667 
 60,874   e  Pattern Energy Group, Inc   1,483,499 
 482      Piedmont Natural Gas Co, Inc   28,824 
 84,427      PNM Resources, Inc   2,900,912 
 94,012      Portland General Electric Co   4,105,504 
 17,232      SJW Corp   729,948 
 83,938      South Jersey Industries, Inc   2,675,943 
 49,752      Southwest Gas Corp   3,855,780 
 4,815   e  Spark Energy, Inc   119,364 
 47,202      Spire, Inc   3,275,819 
 89,203   *  Talen Energy Corp   1,213,161 
 96,730   e  TerraForm Global, Inc   336,620 
 92,327   e  TerraForm Power, Inc   1,085,766 
 15,084      Unitil Corp   659,774 
 24,303   *,e  Vivint Solar, Inc   73,395 
 53,111      WGL Holdings, Inc   3,759,728 
268

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

SHARES      COMPANY            VALUE 
                      
 14,161      York Water Co           $445,222 
        TOTAL UTILITIES            73,349,519 
                       
        TOTAL COMMON STOCKS            1,820,930,762 
        (Cost $1,474,748,145)              
                       
RIGHTS / WARRANTS - 0.0%             
DIVERSIFIED FINANCIALS - 0.0%              
 1,297   m  Emergent Capital, Inc            0 
        TOTAL DIVERSIFIED FINANCIALS            0 
                       
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
 2,051   e  Asterias Biotherapeutics, Inc            471 
 8,325   m  Forest Laboratories, Inc CVR            7,909 
 5,149   m  Omthera Pharmaceuticals, Inc            3,089 
 34,794   m  Trius Therapeutics, Inc            4,523 
        TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES   15,992 
                       
SOFTWARE & SERVICES - 0.0%           
 17,421   m  Gerber Scientific, Inc            0 
        TOTAL SOFTWARE & SERVICES            0 
                       
TELECOMMUNICATION SERVICES - 0.0%           
 55,538   m  Leap Wireless International, Inc            139,956 
        TOTAL TELECOMMUNICATION SERVICES            139,956 
                       
        TOTAL RIGHTS / WARRANTS            155,948 
        (Cost $141,560)              
                       
PRINCIPAL      ISSUER  RATE  MATURITY
DATE		     
SHORT-TERM INVESTMENTS - 14.0%           
GOVERNMENT AGENCY DEBT - 1.0%           
$17,575,000   d  Federal Home Loan Bank (FHLB)    0.090% 08/01/16   17,575,000 
        TOTAL GOVERNMENT AGENCY DEBT            17,575,000 
                       
SHARES       COMPANY              
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 13.0%           
 239,303,252   a,c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		   239,303,252 
        TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   239,303,252 
                       
        TOTAL SHORT-TERM INVESTMENTS            256,878,252 
        (Cost $256,878,252)              
        TOTAL INVESTMENTS - 113.0%            2,077,964,962 
        (Cost $1,731,767,957)              
        OTHER ASSETS & LIABILITIES, NET - (13.0)%      (238,870,043)
        NET ASSETS - 100.0%           $1,839,094,919 
269

TIAA-CREF FUNDS - Small-Cap Blend Index Fund

 

       
     
    Abbreviation(s):
    CVR   Contingent Value Rights
    REIT   Real Estate Investment Trust
         
*   Non-income producing
a   Affiliated holding
c   Investments made with cash collateral received from securities on loan.
d   All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $233,392,240.
m   Indicates a security that has been deemed illiquid.
270

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

TIAA-CREF FUNDS

EMERGING MARKETS EQUITY INDEX FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES      COMPANY  VALUE 
         
COMMON STOCKS - 99.3%    
         
BRAZIL - 7.0%        
 70,900   *  AES Tiete S.A.  $376,104 
 1,747,851      AMBEV S.A.   10,134,344 
 308,045   *  Banco Bradesco S.A.   2,775,103 
 1,019,335   *  Banco Bradesco S.A. (Preference)   8,915,723 
 319,186      Banco do Brasil S.A.   2,072,189 
 1,062,879      Banco Itau Holding Financeira S.A.   11,076,573 
 152,739      Banco Santander Brasil S.A.   960,036 
 254,800      BB Seguridade Participacoes S.A.   2,368,515 
 638,974      BM&F Bovespa S.A.   3,762,032 
 197,080      BR Malls Participacoes S.A.   854,597 
 51,415      Braskem S.A.   293,990 
 237,256      BRF S.A.   3,973,292 
 73,992      Centrais Eletricas Brasileiras S.A. (Preference)   508,433 
 83,341      CETIP S.A.-Balcao Organizado de Ativos e Derivativos   1,112,190 
 59,457      Cia Brasileira de Distribuicao Grupo Pao de Acucar   899,813 
 310,356      Cia de Concessoes Rodoviarias   1,792,798 
 123,300      Cia de Saneamento Basico do Estado de Sao Paulo   1,171,243 
 282,891      Cia Energetica de Minas Gerais   793,079 
 65,820      Cia Energetica de Sao Paulo (Class B)   282,573 
 33,495      Cia Paranaense de Energia   332,119 
 238,230      Cia Siderurgica Nacional S.A.   813,350 
 376,399      Cielo S.A.   4,266,180 
 58,936      Cosan SA Industria e Comercio   618,915 
 80,081      CPFL Energia S.A.   564,104 
 94,262      EDP - Energias do Brasil S.A.   418,051 
 246,079      Empresa Brasileira de Aeronautica S.A.   1,125,509 
 58,700      Engie Brasil Energia S.A.   764,164 
 72,800      Equatorial Energia S.A.   1,246,788 
 93,063      Fibria Celulose S.A.   568,010 
 354,675      Gerdau S.A. (Preference)   847,746 
 128,282      Hypermarcas S.A.   1,086,029 
 260,764      JBS S.A.   876,612 
 111,120      Klabin S.A.   582,263 
 508,596      Kroton Educacional S.A.   2,265,028 
 54,991      Localiza Rent A Car   683,487 
 69,210      Lojas Americanas S.A.   278,343 
 208,585      Lojas Americanas S.A.(Preference)   1,231,928 
 236,050      Lojas Renner S.A.   1,984,556 
 12,800      M Dias Branco S.A.   463,854 
 28,500      Multiplan Empreendimentos Imobiliarios S.A.   555,251 
 65,392      Natura Cosmeticos S.A.   671,587 
 82,453      Odontoprev S.A.   330,585 
 1,148,072   *  Petroleo Brasileiro S.A.   4,960,674 
 1,467,346   *  Petroleo Brasileiro S.A. (Preference)   5,371,761 

271

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 36,381     Porto Seguro S.A.  $315,293 
 86,500      Qualicorp S.A.   573,572 
 84,700      Raia Drogasil S.A.   1,731,408 
 287,000   *  Rumo Logistica Operadora Multimodal S.A.   541,710 
 81,909      Satipel Industrial S.A.   250,345 
 52,505      Sul America SA   279,172 
 127,400      Suzano Papel e Celulose S.A.   389,775 
 164,521      Telefonica Brasil S.A.   2,497,955 
 318,066      Tim Participacoes S.A.   815,176 
 42,000      Totvus S.A.   426,166 
 37,400      Transmissora Alianca de Energia Eletrica S.A.   298,748 
 149,180      Ultrapar Participacoes S.A.   3,406,516 
 471,600      Vale S.A.   2,690,785 
 713,673      Vale S.A. (Preference)   3,303,797 
 203,540      Weg S.A.   958,566 
        TOTAL BRAZIL   105,508,505 
               
CHILE - 1.1%    
 775,256      AES Gener S.A.   374,915 
 946,877      Aguas Andinas S.A.   572,408 
 7,714,069      Banco de Chile   854,893 
 12,157      Banco de Credito e Inversiones   540,264 
 22,952,212      Banco Santander Chile S.A.   1,179,077 
 463,020      Centros Comerciales Sudamericanos S.A.   1,317,660 
 55,611      Cia Cervecerias Unidas S.A.   636,742 
 2,803,523      Colbun S.A.   688,280 
 53,437,410      Corpbanca S.A.   464,134 
 103,324      Embotelladora Andina S.A.   403,400 
 1,257,237      Empresa Nacional de Electricidad S.A.   1,146,387 
 54,543      Empresa Nacional de Telecomunicaciones S.A.   536,965 
 479,049      Empresas CMPC S.A.   1,004,345 
 207,023      Empresas COPEC S.A.   1,868,156 
 1,139,572      Endesa Americas S.A.   531,951 
 7,137,445      Enersis Chile S.A.   830,458 
 7,137,445      Enersis S.A.   1,245,523 
 104,466   *  Lan Airlines S.A.   911,798 
 173,111      SACI Falabella   1,270,071 
 35,494      Sociedad Quimica y Minera de Chile S.A. (Class B)   883,053 
        TOTAL CHILE   17,260,480 
               
CHINA - 23.8%    
 407,000   *,g  3SBio, Inc   408,977 
 29,187   *,e  58.COM, Inc (ADR)   1,518,016 
 272,500      AAC Technologies Holdings, Inc   2,547,203 
 9,489,000      Agricultural Bank of China   3,495,331 
 688,000      Air China Ltd   525,297 
 366,602   *  Alibaba Group Holding Ltd (ADR)   30,237,333 
 1,244,000   *  Alibaba Health Information Technology Ltd   866,476 
 2,014,000   *,e  Aluminum Corp of China Ltd   651,436 
 526,500      Anhui Conch Cement Co Ltd   1,385,264 
 389,000      Anta Sports Products Ltd   869,383 
 852,000      AviChina Industry & Technology Co   626,569 
 100,545   *  Baidu, Inc (ADR)   16,046,982 

272

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
                
 29,656,000      Bank of China Ltd  $12,243,509 
 3,367,500      Bank of Communications Co Ltd   2,279,418 
 548,000      Beijing Capital International Airport Co Ltd   633,369 
 210,000      Beijing Enterprises Holdings Ltd   1,187,212 
 1,702,000      Beijing Enterprises Water Group Ltd   1,035,893 
 2,416,000      Belle International Holdings Ltd   1,601,557 
 1,192,000      Brilliance China Automotive Holdings Ltd   1,327,128 
 244,500   *,e  Byd Co Ltd   1,557,127 
 4,158,000   g  CGN Power Co Ltd   1,231,630 
 3,497,000      China Cinda Asset Management Co Ltd   1,139,666 
 3,531,600      China Citic Bank   2,238,559 
 1,136,000      China Coal Energy Co   601,186 
 1,663,000      China Communications Construction Co Ltd   1,822,336 
 988,400      China Communications Services Corp Ltd   537,561 
 513,000      China Conch Venture Holdings Ltd   983,462 
 31,283,350      China Construction Bank   21,039,311 
 1,123,000   *,e  China COSCO Holdings Co Ltd   393,134 
 1,527,000      China Everbright Bank Co Ltd   665,494 
 953,000      China Everbright International Ltd   1,032,083 
 372,000      China Everbright Ltd   712,569 
 1,827,000   e  China Evergrande Group   1,154,247 
 1,315,000      China Galaxy Securities Co Ltd   1,141,131 
 1,579,000   e  China Huishan Dairy Holdings Co Ltd   621,082 
 631,024   *  China Insurance International Holdings Co Ltd   1,241,559 
 2,775,000      China Life Insurance Co Ltd   6,294,492 
 1,275,000      China Longyuan Power Group Corp   1,026,384 
 497,000      China Medical System Holdings Ltd   732,139 
 1,062,000      China Mengniu Dairy Co Ltd   1,779,140 
 1,481,000      China Merchants Bank Co Ltd   3,175,791 
 495,780      China Merchants Holdings International Co Ltd   1,458,182 
 2,316,300      China Minsheng Banking Corp Ltd   2,421,735 
 2,283,500      China Mobile Hong Kong Ltd   28,277,771 
 1,028,000      China National Building Material Co Ltd   474,128 
 922,000   e  China Oilfield Services Ltd   729,579 
 1,470,000      China Overseas Land & Investment Ltd   4,848,892 
 1,003,200      China Pacific Insurance Group Co Ltd   3,565,083 
 1,363,000      China Power International Development Ltd   556,532 
 781,000      China Railway Construction Corp   941,575 
 1,463,000      China Railway Group Ltd   1,106,766 
 462,677   *,e  China Resources Beer Holdings Company Ltd   897,160 
 348,000      China Resources Gas Group Ltd   1,022,625 
 1,027,555      China Resources Land Ltd   2,563,059 
 719,372      China Resources Power Holdings Co   1,149,681 
 1,469,500      China Shenhua Energy Co Ltd   2,821,415 
 1,635,000   *,e  China Shipping Container Lines Co Ltd   343,219 
 726,000      China Southern Airlines Co Ltd   478,726 
 746,000      China State Construction International Holdings Ltd   999,775 
 5,348,000      China Telecom Corp Ltd   2,643,109 
 2,296,000      China Unicom Ltd   2,445,950 
 517,500      China Vanke Co Ltd   1,173,404 
 356,400      Chongqing Changan Automobile Co Ltd   591,943 
 1,050,000      Chongqing Rural Commercial Bank   552,572 
 1,681,000      Citic Pacific Ltd   2,550,849 
273

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES       COMPANY   VALUE 
                
 849,000      CITIC Securities Co Ltd  $1,813,816 
 6,835,000      CNOOC Ltd   8,237,764 
 648,981      COSCO Pacific Ltd   670,254 
 2,163,675      Country Garden Holdings Co Ltd   882,765 
 1,636,050   e  CRRC Corp Ltd   1,505,331 
 1,562,000      CSPC Pharmaceutical Group Ltd   1,352,514 
 124,404   *,e  Ctrip.com International Ltd (ADR)   5,432,723 
 232,900   g  Dalian Wanda Commercial Properties Co Ltd   1,479,725 
 1,070,000      Dongfeng Motor Group Co Ltd   1,324,947 
 286,000      ENN Energy Holdings Ltd   1,365,861 
 850,000      Far East Horizon Ltd   670,329 
 969,452      Fosun International   1,272,025 
 1,568,000      Franshion Properties China Ltd   437,944 
 1,965,000      Geely Automobile Holdings Ltd   1,296,054 
 558,600      GF Securities Co Ltd   1,227,293 
 4,856,668   e  GOME Electrical Appliances Holdings Ltd   590,331 
 1,179,500      Great Wall Motor Co Ltd   1,229,760 
 1,132,000      Guangdong Investments Ltd   1,739,592 
 898,000      Guangzhou Automobile Group Co Ltd   1,155,164 
 382,000      Guangzhou R&F Properties Co Ltd   579,711 
 290,000      Haitian International Holdings Ltd   486,858 
 1,248,000      Haitong Securities Co Ltd   2,037,394 
 281,000      Hengan International Group Co Ltd   2,365,292 
 738,000      Huadian Power International Co   349,931 
 1,646,000      Huaneng Power International, Inc   1,014,019 
 1,424,000      Huaneng Renewables Corp Ltd   457,141 
 587,200   g  Huatai Securities Co Ltd   1,203,111 
 27,548,000      Industrial & Commercial Bank of China   15,715,874 
 254,232   *,e  JD.com, Inc (ADR)   5,504,123 
 492,000      Jiangsu Express   696,065 
 752,000      Jiangxi Copper Co Ltd   864,294 
 318,000   e  Kingsoft Corp Ltd   542,751 
 2,698,000      Lenovo Group Ltd   1,748,439 
 578,000   e  Longfor Properties Co Ltd   791,638 
 476,000   *  Luye Pharma Group Ltd   309,209 
 29,483      Netease.com (ADR)   6,022,492 
 314,000      New China Life insurance Co Ltd   1,117,084 
 49,744      New Oriental Education & Technology Group (ADR)   2,191,721 
 2,723,000      People’s Insurance Co Group of China Ltd   1,051,993 
 1,755,055      PICC Property & Casualty Co Ltd   2,734,664 
 1,952,000      Ping An Insurance Group Co of China Ltd   9,160,892 
 13,700   *,e  Qunar Cayman Islands Ltd (ADR)   411,959 
 10,803,000   *  Semiconductor Manufacturing International   875,803 
 684,000      Shandong Weigao Group Medical Polymer Co Ltd   382,448 
 1,114,000      Shanghai Electric Group Co Ltd   464,215 
 145,000      Shanghai Fosun Pharmaceutical Group Co Ltd   356,537 
 173,000      Shanghai Industrial Holdings Ltd   405,745 
 329,999      Shanghai Lujiazui Finance & Trade Zone Development Co Ltd   486,716 
 301,300      Shanghai Pharmaceuticals Holding Co Ltd   716,490 
 209,000      Shenzhou International Group Holdings Ltd   1,103,283 
 1,339,649      Shui On Land Ltd   361,781 
 1,194,471      Sino-Ocean Land Holdings Ltd   506,141 
 532,000      Sinopec Engineering Group Co Ltd   465,365 
274

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 1,428,000      Sinopec Shanghai Petrochemical Co Ltd  $698,905 
 454,800      Sinopharm Group Co   2,209,397 
 766,000      Sinotrans Ltd   351,506 
 863,500      Soho China Ltd   399,292 
 110,728   e  SouFun Holdings Ltd (ADR)   566,927 
 693,000      Sunac China Holdings Ltd   436,253 
 16,400   *  TAL Education Group (ADR)   987,444 
 2,090,000      Tencent Holdings Ltd   50,480,031 
 804,000   e  Tingyi Cayman Islands Holding Corp   697,491 
 357,000      Travelsky Technology Ltd   685,177 
 158,000   e  Tsingtao Brewery Co Ltd   558,169 
 151,124   *  Vipshop Holdings Ltd (ADR)   2,150,494 
 2,245,000   e  Want Want China Holdings Ltd   1,378,578 
 419,400      Weichai Power Co Ltd   504,345 
 1,220,000   e  Yanzhou Coal Mining Co Ltd   753,198 
 12,504   *,e  YY, Inc (ADR)   490,032 
 600,000      Zhejiang Expressway Co Ltd   621,388 
 205,500      Zhuzhou CSR Times Electric Co Ltd   1,136,985 
 2,430,000      Zijin Mining Group Co Ltd   888,380 
 279,864      ZTE Corp   377,432 
        TOTAL CHINA   358,756,961 
               
COLOMBIA - 0.4%        
 163,372      BanColombia S.A. (Preference)   1,399,571 
 154,074      Cementos Argos S.A.   577,150 
 24,869      Corp Financiera Colombiana S.A.   310,903 
 2,475,845      Ecopetrol S.A.   1,048,404 
 107,119      Grupo Argos S.A.   645,505 
 1,040,383      Grupo Aval Acciones y Valores   396,498 
 82,814      Grupo de Inversiones Suramericana S.A.   1,033,691 
 34,962      Grupo de Inversiones Suramericana S.A. (Preference)   427,288 
 151,305      Interconexion Electrica S.A.   448,001 
        TOTAL COLOMBIA   6,287,011 
               
CZECH REPUBLIC - 0.2%        
 62,116      CEZ AS   1,175,631 
 25,590      Komercni Banka AS   1,008,179 
 19,025      Telefonica O2 Czech Republic AS   185,569 
        TOTAL CZECH REPUBLIC   2,369,379 
               
EGYPT - 0.2%    
 379,053      Commercial International Bank   2,030,026 
 944,833   *  Orascom Telecom Holding SAE   445,819 
 316,999      Talaat Moustafa Group   199,553 
        TOTAL EGYPT   2,675,398 
               
GREECE - 0.3%        
 493,901   *  Alpha Bank AE   996,159 
 633,723   *  Eurobank Ergasias S.A.   366,778 
 10,570   *  FF Group   260,907 
 90,249      Hellenic Telecommunications Organization S.A.   886,423 
 37,462      JUMBO S.A.   442,698 
 1,832,481   *  National Bank of Greece S.A.   421,664 
275

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 83,715      OPAP S.A.  $671,912 
 2,432,366   *  Piraeus Bank S.A.   415,794 
 17,832      Titan Cement Co S.A.   408,725 
        TOTAL GREECE   4,871,060 
               
HONG KONG - 0.4%        
 4,340,000   *,e  Alibaba Pictures Group Ltd   931,194 
 672,000      China Gas Holdings Ltd   1,063,790 
 4,891,799      GCL Poly Energy Holdings Ltd   672,829 
 510,000      Haier Electronics Group Co Ltd   856,726 
 690,000      Nine Dragons Paper Holdings Ltd   550,091 
 479,000      Shimao Property Holdings Ltd   627,223 
 1,637,000      Sino Biopharmaceutical   1,096,704 
 878,500      Sun Art Retail Group Ltd   610,972 
        TOTAL HONG KONG   6,409,529 
               
HUNGARY - 0.3%    
 20,137      MOL Hungarian Oil and Gas plc   1,263,400 
 82,847      OTP Bank   2,020,310 
 41,186      Richter Gedeon Rt   870,604 
        TOTAL HUNGARY   4,154,314 
               
INDIA - 8.0%    
 236,233      Ambuja Cements Ltd   958,703 
 25,796      Apollo Hospitals Enterprise Ltd   525,172 
 469,528      Ashok Leyland Ltd   669,178 
 113,162      Asian Paints Ltd   1,885,268 
 18,105      Associated Cement Co Ltd   457,252 
 100,317      Aurobindo Pharma Ltd   1,185,923 
 217,693      Axis Bank Ltd   1,783,025 
 2,304      Bajaj Auto Finance Ltd   357,171 
 32,292      Bajaj Holdings and Investment Ltd   1,306,040 
 42,805      Bharat Forge Ltd   487,289 
 220,017      Bharat Heavy Electricals   481,257 
 129,166      Bharat Petroleum Corp Ltd   1,142,963 
 403,056      Bharti Airtel Ltd   2,185,326 
 166,703      Bharti Infratel Ltd   983,745 
 2,873      Bosch Ltd   1,073,244 
 69,715      Cadila Healthcare Ltd   382,810 
 261,575      Cairn India Ltd   757,558 
 129,169      Cipla Ltd   1,018,556 
 324,667      Coal India Ltd   1,594,519 
 11,787      Container Corp Of India Ltd   264,097 
 161,443      Dabur India Ltd   732,669 
 25,689      Divi S Laboratories Ltd   460,317 
 43,711      Dr Reddy’s Laboratories Ltd   1,924,589 
 4,622      Eicher Motors Ltd   1,553,408 
 129,367      GAIL India Ltd   739,212 
 1,505      GlaxoSmithKline Consumer Healthcare Ltd   142,240 
 49,643      Glenmark Pharmaceuticals Ltd   639,273 
 34,951      Godrej Consumer Products Ltd   830,932 
 36,611      Havells India Ltd   212,950 
 212,121      HCL Technologies Ltd   2,388,475 
276

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 18,935      Hero Honda Motors Ltd  $906,005 
 535,754      Hindalco Industries Ltd   1,073,445 
 264,774      Hindustan Lever Ltd   3,651,891 
 551,437      Housing Development Finance Corp   11,371,312 
 438,042      ICICI Bank Ltd   1,699,671 
 475,338      Idea Cellular Ltd   746,485 
 111,531      Indiabulls Housing Finance Ltd   1,275,332 
 683,518      Infosys Technologies Ltd   10,950,054 
 1,254,199      ITC Ltd   4,744,630 
 34,233      JSW Steel Ltd   858,578 
 120,717      Larsen & Toubro Ltd   2,817,085 
 100,687      LIC Housing Finance Ltd   782,932 
 80,611      Lupin Ltd   2,100,991 
 112,750      Mahindra & Mahindra Financial Services Ltd   557,677 
 139,009      Mahindra & Mahindra Ltd   3,047,928 
 127,054      Marico Ltd   539,521 
 40,197      Maruti Suzuki India Ltd   2,863,968 
 131,861      Motherson Sumi Systems Ltd   654,854 
 323,508      Mundra Port and Special Economic Zone Ltd   1,123,654 
 8,934      Nestle India Ltd   959,732 
 426,975      NTPC Ltd   1,011,013 
 19,021      Piramal Healthcare Ltd   456,336 
 127,355      Power Finance Corp Ltd   416,830 
 494,010      Reliance Industries Ltd   7,493,421 
 454,176      Sesa Sterlite Ltd   1,126,149 
 2,043      Shree Cement Ltd   491,887 
 56,275      Shriram Transport Finance Co Ltd   1,076,918 
 29,598      Siemens India Ltd   583,902 
 596,684      State Bank of India   2,052,542 
 355,115      Sun Pharmaceutical Industries Ltd   4,413,867 
 175,708      Tata Consultancy Services Ltd   6,883,307 
 575,158      Tata Motors Ltd   4,341,401 
 444,917      Tata Power Co Ltd   479,088 
 114,171      Tata Steel Ltd   607,241 
 92,241      Tech Mahindra Ltd   673,880 
 27,745      Titan Industries Ltd   174,890 
 15,359      Ultra Tech Cement Ltd   853,515 
 115,171      United Phosphorus Ltd   1,077,865 
 24,503   *  United Spirits Ltd   897,604 
 233,075      Wipro Ltd   1,899,403 
 43,197      Yes Bank Ltd   788,013 
 218,105      ZEE Telefilms Ltd   1,621,716 
        TOTAL INDIA   121,269,694 
               
INDONESIA - 2.6%    
 7,349,000      Adaro Energy Tbk   586,762 
 4,069,400      Bank Rakyat Indonesia   3,594,418 
 864,400      Indofood CBP Sukses Makmur Tbk   569,253 
 585,800      PT AKR Corporindo Tbk   302,634 
 7,399,100      PT Astra International Tbk   4,381,081 
 4,545,300      PT Bank Central Asia Tbk   5,023,284 
 1,026,066      PT Bank Danamon Indonesia Tbk   274,495 
277

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 3,401,471      PT Bank Mandiri Persero Tbk  $2,640,534 
 2,604,393      PT Bank Negara Indonesia   1,067,810 
 2,356,000      PT Bumi Serpong Damai   377,344 
 2,657,400      PT Charoen Pokphand Indonesia Tbk   763,243 
 1,246,875   *  PT Excelcomindo Pratama   353,603 
 2,020,300      PT Global MediaCom Tbk   159,324 
 176,300      PT Gudang Garam Tbk   910,373 
 3,584,400      PT Hanjaya Mandala Sampoerna Tbk   994,458 
 555,900      PT Indocement Tunggal Prakarsa Tbk   726,975 
 1,604,400      PT Indofood Sukses Makmur Tbk   1,023,261 
 584,700      PT Jasa Marga Tbk   238,349 
 7,666,300      PT Kalbe Farma Tbk   983,266 
 7,024,600      PT Lippo Karawaci Tbk   609,337 
 860,900      PT Matahari Department Store Tbk   1,313,895 
 1,577,800      PT Media Nusantara Citra Tbk   260,170 
 3,961,600      PT Perusahaan Gas Negara Persero Tbk   998,314 
 1,132,300      PT Semen Gresik Persero Tbk   813,733 
 3,316,600      PT Summarecon Agung Tbk   431,163 
 2,125,900      PT Surya Citra Media Tbk   515,016 
 18,794,600      PT Telekomunikasi Indonesia Persero Tbk   6,117,847 
 574,800      PT Unilever Indonesia Tbk   1,979,739 
 633,100      PT United Tractors Tbk   763,048 
 1,793,000      PT Waskita Karya Persero Tbk   380,087 
 775,300      Tower Bersama Infrastructure   337,922 
        TOTAL INDONESIA   39,490,738 
               
KOREA, REPUBLIC OF - 14.2%    
 12,034      Amorepacific Corp   4,166,575 
 3,527      Amorepacific Corp (Preference)   709,328 
 3,682      BGF retail Co Ltd   658,223 
 92,394      BS Financial Group, Inc   727,121 
 27,465   *,e  Celltrion, Inc   2,554,099 
 25,429      Cheil Communications, Inc   408,945 
 27,650      Cheil Industries, Inc   3,347,036 
 2,937      CJ CheilJedang Corp   1,034,295 
 5,015      CJ Corp   899,092 
 6,668      CJ E&M Corp   423,368 
 9,666      Daelim Industrial Co   726,203 
 44,028   *  Daewoo Engineering & Construction Co Ltd   245,187 
 18,314      Daewoo International Corp   350,907 
 65,213      Daewoo Securities Co Ltd   530,050 
 52,544      DGB Financial Group Co Ltd   423,281 
 17,413      Dongbu Insurance Co Ltd   989,807 
 12,877      Dongsuh Co, Inc   375,275 
 18,432      Doosan Heavy Industries and Construction Co Ltd   433,343 
 7,209      E-Mart Co Ltd   1,053,158 
 6,949      GLOVIS Co Ltd   1,043,717 
 18,269   *  GS Engineering & Construction Corp   469,619 
 22,128      GS Holdings Corp   956,134 
 9,811      GS Retail Co Ltd   442,446 
 106,600      Hana Financial Group, Inc   2,624,663 
278

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES       COMPANY   VALUE 
                
 25,275      Hankook Tire Co Ltd  $1,224,203 
 4,221      Hanmi Holdings Co Ltd   543,159 
 1,887      Hanmi Pharm Co Ltd   1,031,224 
 64,900      Hanon Systems   665,142 
 3,847      Hanssem Co Ltd   591,242 
 40,400      Hanwha Chemical Corp   924,174 
 15,925      Hanwha Corp   507,299 
 5,660      Honam Petrochemical Corp   1,537,930 
 11,950      Hotel Shilla Co Ltd   636,824 
 213,260      Hynix Semiconductor, Inc   6,567,144 
 7,633      Hyosung Corp   948,571 
 5,144      Hyundai Department Store Co Ltd   570,748 
 20,510      Hyundai Development Co   813,126 
 26,981      Hyundai Engineering & Construction Co Ltd   890,237 
 15,522   *  Hyundai Heavy Industries   1,745,598 
 21,871      Hyundai Marine & Fire Insurance Co Ltd   591,315 
 24,991      Hyundai Mobis   5,698,762 
 55,038      Hyundai Motor Co   6,494,061 
 13,619      Hyundai Motor Co Ltd (2nd Preference)   1,222,137 
 8,514      Hyundai Motor Co Ltd (Preference)   740,727 
 27,378      Hyundai Steel Co   1,241,913 
 5,540      Hyundai Wia Corp   425,645 
 96,356      Industrial Bank of Korea   1,020,400 
 10,867   e  Kakao Corp   882,151 
 41,772      Kangwon Land, Inc   1,529,004 
 138,435      KB Financial Group, Inc   4,395,700 
 2,073      KCC Corp   730,693 
 8,256      KEPCO Plant Service & Engineering Co Ltd   505,871 
 95,239      Kia Motors Corp   3,587,683 
 21,523      Korea Aerospace Industries Ltd   1,550,291 
 95,850      Korea Electric Power Corp   5,247,671 
 2,508   *  Korea Express Co Ltd   449,240 
 11,459      Korea Gas Corp   434,220 
 13,711      Korea Investment Holdings Co Ltd   575,542 
 5,581      Korea Kumho Petrochemical   303,339 
 68,326      Korea Life Insurance Co Ltd   352,474 
 3,615      Korea Zinc Co Ltd   1,648,970 
 13,452   *  Korean Air Lines Co Ltd   342,158 
 9,181      KT Corp   260,193 
 43,433      KT&G Corp   4,696,866 
 17,210      LG Chem Ltd   3,750,688 
 2,995      LG Chem Ltd (Preference)   475,484 
 34,618      LG Corp   1,966,381 
 38,778      LG Electronics, Inc   1,854,381 
 3,493      LG Household & Health Care Ltd   3,146,231 
 788      LG Household & Health Care Ltd (Preference)   411,341 
 5,319      LG Innotek Co Ltd   425,252 
 76,539      LG Telecom Ltd   749,194 
 84,603      LG.Philips LCD Co Ltd   2,345,647 
 226      Lotte Chilsung Beverage Co Ltd   333,382 
 2,100      Lotte Confectionery Co Ltd   355,265 
 3,902      Lotte Shopping Co Ltd   672,911 
 24,245      Mirae Asset Securities Co Ltd   577,027 
 10,402      Naver Corp   6,599,901 
279

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 6,449      NCsoft  $1,449,320 
 6,518   e  OCI Co Ltd   543,503 
 1,310      Orion Corp   1,078,988 
 437      Ottogi Corp   305,461 
 10,263      Pacific Corp   1,323,949 
 20,175      Paradise Co Ltd   288,598 
 25,095      POSCO   5,084,916 
 6,650      S1 Corp (Korea)   603,896 
 10,475      Samsung Card Co   404,541 
 21,968      Samsung Electro-Mechanics Co Ltd   1,084,588 
 37,391      Samsung Electronics Co Ltd   51,449,162 
 6,761      Samsung Electronics Co Ltd (Preference)   7,642,134 
 12,696      Samsung Fire & Marine Insurance Co Ltd   3,025,460 
 56,297      Samsung Heavy Industries Co Ltd   502,024 
 28,779      Samsung Life Insurance Co Ltd   2,503,733 
 20,097      Samsung SDI Co Ltd   1,899,931 
 12,794      Samsung SDS Co Ltd   1,797,352 
 19,754      Samsung Securities Co Ltd   668,361 
 155,865      Shinhan Financial Group Co Ltd   5,569,850 
 2,185      Shinsegae Co Ltd   355,528 
 16,746      SK C&C Co Ltd   3,124,442 
 24,730      SK Energy Co Ltd   3,258,876 
 49,287      SK Networks Co Ltd   273,953 
 7,331      SK Telecom Co Ltd   1,506,479 
 18,367      S-Oil Corp   1,264,717 
 19,677      Woongjin Coway Co Ltd   1,504,213 
 107,463      Woori Bank   969,690 
 48,259      Woori Investment & Securities Co Ltd   449,226 
 2,776      Yuhan Corp   759,586 
        TOTAL KOREA, REPUBLIC OF   214,071,081 
               
MALAYSIA - 2.7%    
 368,700      AirAsia BHD   265,657 
 318,400      Alliance Financial Group BHD   311,754 
 668,800      AMMB Holdings BHD   707,359 
 593,000      Astro Malaysia Holdings BHD   425,392 
 169,493      Berjaya Sports Toto BHD   136,577 
 47,500      British American Tobacco Malaysia BHD   575,998 
 1,116,233      Bumiputra-Commerce Holdings BHD   1,204,834 
 1,210,596      Dialog Group BHD   453,180 
 1,315,500      Digi.Com BHD   1,603,503 
 377,000      Felda Global Ventures Holdings BHD   171,573 
 532,600      Gamuda BHD   630,667 
 828,975      Genting BHD   1,675,284 
 69,500      Genting Plantations BHD   179,961 
 196,700      HAP Seng Consolidated BHD   374,506 
 176,000      Hartalega Holdings BHD   185,923 
 218,287      Hong Leong Bank BHD   704,486 
 69,106      Hong Leong Credit BHD   258,688 
 1,136,800      IHH Healthcare BHD   1,826,476 
 1,066,600      IJM Corp BHD   888,367 
 1,032,300      IOI Corp BHD   1,073,391 
 400,833      IOI Properties Group Sdn BHD   232,396 
 149,100      Kuala Lumpur Kepong BHD   847,433 
280

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 120,700      Lafarge Malayan Cement BHD  $235,736 
 1,243,822      Malayan Banking BHD   2,452,966 
 313,576      Malaysia Airports Holdings BHD   458,252 
 679,100      Maxis BHD   1,004,587 
 411,400      MISC BHD   759,026 
 908,900      Petronas Chemicals Group BHD   1,462,546 
 132,300      Petronas Dagangan BHD   756,000 
 271,800      Petronas Gas BHD   1,487,414 
 166,500      PPB Group BHD   655,035 
 1,002,240      Public Bank BHD   4,804,533 
 1,140,600      Resorts World BHD   1,204,300 
 265,670      RHB Capital BHD   332,673 
 1,572,700      Sapurakencana Petroleum BHD   558,443 
 936,128      Sime Darby BHD   1,708,194 
 397,465      Telekom Malaysia BHD   666,917 
 1,281,750      Tenaga Nasional BHD   4,529,546 
 1,013,065      TM International BHD   1,417,798 
 180,500      UMW Holdings BHD   253,110 
 307,800      Westports Holdings BHD   340,729 
 1,549,800      YTL Corp BHD   636,257 
 581,269      YTL Power International BHD   204,205 
        TOTAL MALAYSIA   40,661,672 
               
MEXICO - 3.7%    
 1,000,650      Alfa S.A. de C.V. (Class A)   1,637,864 
 11,535,870      America Movil S.A. de C.V. (Series L)   6,632,356 
 5,234,043   *,e  Cemex S.A. de C.V.   3,989,039 
 182,160      Coca-Cola Femsa S.A. de C.V.   1,431,923 
 64,100      El Puerto de Liverpool SAB de C.V.   621,274 
 154,325      Embotelladoras Arca SAB de C.V.   992,701 
 871,500      Fibra Uno Administracion S.A. de C.V.   1,777,395 
 686,737      Fomento Economico Mexicano S.A. de C.V.   6,144,007 
 375,886      Gentera SAB de C.V.   698,446 
 76,845      Gruma SAB de C.V.   1,105,215 
 127,528      Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)   1,254,671 
 72,795      Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)   1,118,714 
 619,420      Grupo Bimbo S.A. de C.V. (Series A)   1,846,367 
 198,598      Grupo Carso S.A. de C.V. (Series A1)   811,021 
 110,000      Grupo Comercial Chedraui S.a. DE C.V.   249,568 
 903,487      Grupo Financiero Banorte S.A. de C.V.   4,948,218 
 834,532      Grupo Financiero Inbursa S.A.   1,341,037 
 642,500      Grupo Financiero Santander Mexico SAB de C.V.   1,170,549 
 199,700      Grupo Lala SAB de C.V.   433,802 
 1,528,156      Grupo Mexico S.A. de C.V. (Series B)   3,687,950 
 896,126      Grupo Televisa S.A.   4,756,876 
 50,877      Industrias Penoles S.A. de C.V.   1,309,072 
 546,042      Kimberly-Clark de Mexico S.A. de C.V. (Class A)   1,235,074 
 418,096      Mexichem SAB de C.V.   911,115 
 281,300   *  OHL Mexico SAB de CV   381,668 
 94,325      Promotora y Operadora de Infraestructura SAB de C.V.   1,100,006 
 1,955,989      Wal-Mart de Mexico SAB de C.V.   4,470,087 
        TOTAL MEXICO   56,056,015 
281

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
NETHERLANDS - 0.4%    
 1,068,361      Steinhoff International Holdings NV  $6,757,530 
        TOTAL NETHERLANDS   6,757,530 
               
PERU - 0.4%        
 68,322      Cia de Minas Buenaventura S.A. (ADR) (Series B)   1,000,917 
 23,790      Credicorp Ltd (NY)   3,814,251 
 45,148   e  Southern Copper Corp (NY)   1,173,397 
        TOTAL PERU   5,988,565 
               
PHILIPPINES - 1.5%     
 709,400      Aboitiz Equity Ventures, Inc   1,176,282 
 549,900      Aboitiz Power Corp   528,435 
 648,600      Alliance Global Group, Inc   222,801 
 91,818      Ayala Corp   1,697,390 
 2,724,300      Ayala Land, Inc   2,285,386 
 630,116      Banco de Oro Universal Bank   1,515,269 
 292,610      Bank of the Philippine Islands   596,360 
 1,227,500      DMCI Holdings, Inc   339,368 
 12,040      Globe Telecom, Inc   579,745 
 29,230      GT Capital Holdings, Inc   955,937 
 180,030      International Container Term Services, Inc   244,823 
 1,049,870      JG Summit Holdings (Series B)   1,861,891 
 142,620      Jollibee Foods Corp   772,395 
 4,448,900      Megaworld Corp   475,562 
 4,266,600      Metro Pacific Investments Corp   679,946 
 196,882      Metropolitan Bank & Trust   397,061 
 35,665      Philippine Long Distance Telephone Co   1,592,992 
 2,989,000      PNOC Energy Development Corp   372,944 
 475,000      Robinsons Land Corp   322,936 
 157,780      Security Bank Corp   733,865 
 88,080      SM Investments Corp   1,289,469 
 3,038,975      SM Prime Holdings   1,886,035 
 329,590      Universal Robina   1,403,201 
        TOTAL PHILIPPINES   21,930,093 
               
POLAND - 1.0%        
 23,290   *  Alior Bank S.A.   301,855 
 8,150      Bank Handlowy w Warszawie S.A.   143,913 
 216,854   *  Bank Millennium S.A.   254,867 
 49,002      Bank Pekao S.A.   1,550,829 
 10,630      Bank Zachodni WBK S.A.   763,817 
 4,389      BRE Bank S.A.   341,786 
 9,919      CCC S.A.   452,579 
 45,713   *  Cyfrowy Polsat S.A.   276,305 
 71,916      Enea S.A.   202,057 
 89,184      Energa S.A.   222,856 
 26,188      Eurocash S.A.   351,880 
 54,571   *  Grupa Lotos S.A.   409,624 
 62,828      KGHM Polska Miedz S.A.   1,268,884 
 470      LPP S.A.   592,529 
 799,354      Polish Oil & Gas Co   1,109,188 
 289,718      Polska Grupa Energetyczna S.A.   951,950 
282

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 127,919      Polski Koncern Naftowy Orlen S.A.  $2,049,641 
 316,336   *  Powszechna Kasa Oszczednosci Bank Polski S.A.   1,933,496 
 200,412      Powszechny Zaklad Ubezpieczen S.A.   1,449,768 
 95,708      Synthos S.A.   97,256 
 303,984      Tauron Polska Energia S.A.   240,120 
 212,799      Telekomunikacja Polska S.A.   294,348 
 13,692      Zaklady Azotowe w Tarnowie-Moscicach S.A.   254,993 
        TOTAL POLAND   15,514,541 
               
QATAR - 0.9%        
 34,886      Barwa Real Estate Co   335,879 
 56,557      Commercial Bank of Qatar QSC   588,680 
 37,408      Doha Bank QSC   382,687 
 288,674      Ezdan Holding Group QSC   1,565,730 
 55,567      Industries Qatar QSC   1,631,767 
 139,808      Masraf Al Rayan   1,382,005 
 27,725      Ooredoo QSC   724,827 
 9,966      Qatar Electricity & Water Co   614,314 
 118,665      Qatar Gas Transport Co Ltd   798,125 
 43,631      Qatar Insurance Co SAQ   974,117 
 19,449      Qatar Islamic Bank SAQ   581,722 
 78,891      Qatar National Bank   3,312,468 
 119,125      Vodafone Qatar   362,864 
        TOTAL QATAR   13,255,185 
               
ROMANIA - 0.1%        
 73,480      New Europe Property Investments plc   878,769 
        TOTAL ROMANIA   878,769 
               
RUSSIA - 3.4%     
 65,445      AFK Sistema (GDR)   532,722 
 2,281,392      Gazprom OAO (ADR)   9,346,927 
 13,659      Gazpromneft OAO (ADR)   167,724 
 164,196      LUKOIL PJSC (ADR)   7,067,370 
 109,691      Magnit OAO (GDR)   4,208,545 
 27,913      MegaFon OAO (GDR)   275,752 
 194,250      MMC Norilsk Nickel PJSC (ADR)   2,843,809 
 192,749      Mobile TeleSystems (ADR)   1,713,539 
 35,610      NovaTek OAO (GDR)   3,579,423 
 56,233      PhosAgro OAO (ADR)   776,015 
 500,926      Rosneft Oil Co (GDR)   2,435,709 
 54,099      Rostelecom (ADR)   415,752 
 637,556      RusHydro PJSC (ADR)   659,871 
 974,451      Sberbank of Russian Federation (ADR)   8,490,602 
 91,516      Severstal (GDR)   1,083,600 
 622,044      Surgutneftegaz (ADR)   2,925,007 
 103,631      Tatneft PAO (ADR)   2,950,882 
 1,073,969      VTB Bank OJSC (GDR)   2,131,823 
        TOTAL RUSSIA   51,605,072 
               
SOUTH AFRICA - 6.8%     
 331,683   *,m  African Bank Investments Ltd   239 
 22,127   *  Anglo American Platinum Ltd   703,509 
283

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES       COMPANY   VALUE 
                
 151,530   *  AngloGold Ashanti Ltd  $3,308,967 
 124,655      Aspen Pharmacare Holdings Ltd   3,366,466 
 151,672   e  Barclays Africa Group Ltd   1,677,664 
 117,404   *  Bid Corp Ltd   2,190,724 
 115,264      Bidvest Group Ltd   1,324,856 
 123,499   *,e  Brait S.A.   1,110,891 
 15,072      Capitec Bank Holdings Ltd   668,478 
 92,038   e  Coronation Fund Managers Ltd   489,194 
 125,542   e  Discovery Holdings Ltd   1,131,197 
 91,939   e  Exxaro Resources Ltd   550,713 
 1,233,998      FirstRand Ltd   4,318,193 
 260,733      Fortress Income Fund Ltd   685,991 
 268,000      Fortress Income Fund Ltd (A Shares)   324,232 
 72,103      Foschini Ltd   773,690 
 292,059      Gold Fields Ltd   1,803,372 
 120,662      Gold Reef Resorts Ltd   252,104 
 810,351      Growthpoint Properties Ltd   1,537,770 
 87,240      Hyprop Investments Ltd   848,110 
 262,245   *  Impala Platinum Holdings Ltd   1,157,427 
 59,528      Imperial Holdings Ltd   711,436 
 94,730      Investec Ltd   571,218 
 40,805   e  Liberty Holdings Ltd   360,098 
 329,147      Life Healthcare Group Holdings Pte Ltd   895,594 
 45,598      Massmart Holdings Ltd   476,338 
 341,129      Metropolitan Holdings Ltd   569,041 
 41,845      Mondi Ltd   848,024 
 90,622      Mr Price Group Ltd   1,494,429 
 612,936   e  MTN Group Ltd   6,195,558 
 161,542      Naspers Ltd (N Shares)   25,349,700 
 72,600   e  Nedbank Group Ltd   1,041,616 
 349,038      Network Healthcare Holdings Ltd   808,736 
 88,637   e  Pick’n Pay Stores Ltd   500,252 
 41,354      Pioneer Foods Ltd   532,727 
 37,394      PSG Group Ltd   534,224 
 251,717      Rand Merchant Investment Holdings Ltd   803,804 
 1,378,766      Redefine Properties Ltd   1,190,904 
 179,251      Remgro Ltd   3,361,974 
 93,602      Resilient REIT Ltd   910,218 
 263,526      RMB Holdings Ltd   1,180,089 
 520,713      Sanlam Ltd   2,456,921 
 181,321   *  Sappi Ltd   922,459 
 210,173      Sasol Ltd   5,592,448 
 158,463      Shoprite Holdings Ltd   2,322,284 
 277,385      Sibanye Gold Ltd   1,292,856 
 66,946      Spar Group Ltd   998,698 
 478,470      Standard Bank Group Ltd   4,779,100 
 91,536      Telkom S.A. Ltd   424,806 
 57,302      Tiger Brands Ltd   1,609,534 
 147,622      Truworths International Ltd   950,133 
 134,812      Vodacom Group Pty Ltd   1,562,427 
 359,907      Woolworths Holdings Ltd   2,319,694 
        TOTAL SOUTH AFRICA   101,791,127 
284

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
TAIWAN - 11.7%        
 1,163,912      Acer, Inc  $554,869 
 2,319,372      Advanced Semiconductor Engineering, Inc   2,737,996 
 121,850      Advantech Co Ltd   948,189 
 843,512      Asia Cement Corp   771,584 
 721,000   *  Asia Pacific Telecom Co Ltd   249,958 
 256,500      Asustek Computer, Inc   2,231,768 
 3,122,000      AU Optronics Corp   1,275,813 
 59,000      Casetek Holdings Ltd   238,291 
 241,000      Catcher Technology Co Ltd   1,680,326 
 3,024,270      Cathay Financial Holding Co Ltd   3,402,046 
 409,518      Chailease Holding Co Ltd   727,128 
 1,479,391      Chang Hwa Commercial Bank   796,066 
 709,490      Cheng Shin Rubber Industry Co Ltd   1,481,108 
 180,065      Chicony Electronics Co Ltd   445,558 
 912,000      China Airlines   268,139 
 4,378,754      China Development Financial Holding Corp   1,066,140 
 1,179,346      China Life Insurance Co Ltd (Taiwan)   975,599 
 4,352,850      China Steel Corp   3,011,223 
 5,989,693      Chinatrust Financial Holding Co   3,306,884 
 1,458,600      Chunghwa Telecom Co Ltd   5,212,331 
 1,458,000      Compal Electronics, Inc   916,125 
 718,929      Delta Electronics, Inc   3,792,104 
 2,757,130      E.Sun Financial Holding Co Ltd   1,539,800 
 66,742      Eclat Textile Co Ltd   748,122 
 686,967   *  Eva Airways Corp   327,004 
 524,491      Evergreen Marine Corp Tawain Ltd   203,181 
 1,189,852      Far Eastern Textile Co Ltd   929,820 
 604,000      Far EasTone Telecommunications Co Ltd   1,388,653 
 122,662      Feng TAY Enterprise Co Ltd   554,284 
 3,370,074      First Financial Holding Co Ltd   1,870,256 
 1,209,270      Formosa Chemicals & Fibre Corp   3,151,291 
 539,000      Formosa Petrochemical Corp   1,533,560 
 1,554,600      Formosa Plastics Corp   3,793,474 
 234,000      Formosa Taffeta Co Ltd   221,957 
 346,052      Foxconn Technology Co Ltd   839,775 
 2,504,812      Fubon Financial Holding Co Ltd   3,117,041 
 3,752,112      Fuhwa Financial Holdings Co Ltd   1,318,538 
 107,000      Giant Manufacturing Co Ltd   722,466 
 18,000      Hermes Microvision, Inc   767,135 
 265,500      High Tech Computer Corp   791,792 
 265,290      Highwealth Construction Corp   404,870 
 84,290      Hiwin Technologies Corp   413,728 
 5,175,310      Hon Hai Precision Industry Co, Ltd   14,281,812 
 91,000      Hotai Motor Co Ltd   914,268 
 2,425,853      Hua Nan Financial Holdings Co Ltd   1,324,113 
 3,320,061      InnoLux Display Corp   1,229,699 
 975,000   *  Inotera Memories, Inc   796,430 
 827,060      Inventec Co Ltd   642,832 
 37,000      Largan Precision Co Ltd   3,977,799 
 733,120      Lite-On Technology Corp   1,099,469 
 547,961      MediaTek, Inc   4,183,690 
 4,014,046      Mega Financial Holding Co Ltd   3,147,806 

285

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 75,000      Merida Industry Co Ltd  $347,458 
 1,802,860      Nan Ya Plastics Corp   3,415,442 
 272,000      Nanya Technology Corp   321,739 
 56,000      Nien Made Enterprise Co Ltd   584,642 
 210,000      Novatek Microelectronics Corp Ltd   737,946 
 40,000   *  OBI Pharma, Inc   618,092 
 733,000      Pegatron Technology Corp   1,804,379 
 50,000      Phison Electronics Corp   414,867 
 765,000      Pou Chen Corp   1,044,233 
 238,000      Powertech Technology, Inc   605,727 
 214,000      President Chain Store Corp   1,738,678 
 1,001,000      Quanta Computer, Inc   2,038,599 
 160,085      Realtek Semiconductor Corp   580,561 
 335,111      Ruentex Development Co Ltd   402,026 
 148,730      Ruentex Industries Ltd   237,907 
 2,932,093      Shin Kong Financial Holding Co Ltd   596,365 
 797,169      Siliconware Precision Industries Co   1,199,935 
 91,490      Simplo Technology Co Ltd   323,348 
 3,085,524      SinoPac Financial Holdings Co Ltd   996,894 
 119,836      Standard Foods Corp   298,028 
 501,000      Synnex Technology International Corp   591,923 
 58,000   *  TaiMed Biologics, Inc   395,533 
 2,916,266      Taishin Financial Holdings Co Ltd   1,171,396 
 943,082   *  Taiwan Business Bank   248,727 
 1,301,914      Taiwan Cement Corp   1,383,941 
 2,537,970      Taiwan Cooperative Financial Holding   1,189,550 
 245,000      Taiwan Fertilizer Co Ltd   341,648 
 645,200      Taiwan Mobile Co Ltd   2,224,467 
 9,087,000      Taiwan Semiconductor Manufacturing Co Ltd   49,085,135 
 610,000      Teco Electric and Machinery Co Ltd   540,698 
 77,000      Transcend Information, Inc   231,292 
 1,829,569      Uni-President Enterprises Corp   3,739,175 
 4,282,000      United Microelectronics Corp   1,594,640 
 312,000      Vanguard International Semiconductor Corp   565,826 
 745,186      Wistron Corp   592,809 
 541,500      WPG Holdings Co Ltd   689,722 
 255,000      Yulon Motor Co Ltd   226,767 
 126,127      Zhen Ding Technology Holding Ltd   259,382 
        TOTAL TAIWAN   175,703,407 
               
THAILAND - 2.2%        
 384,800      Advanced Info Service PCL (Foreign)   1,969,084 
 163,900      Airports of Thailand PCL (Foreign)   1,861,027 
 94,700      Bangkok Bank PCL (Foreign)   466,347 
 1,417,400      Bangkok Dusit Medical Services PCL   917,245 
 2,700,000      Bangkok Expressway & Metro PCL   651,163 
 1,218,900      Banpu PCL (Foreign)   551,425 
 273,300      BEC World PCL (Foreign)   194,309 
 970,600      BTS Group Holdings PCL (Foreign)   262,148 
 127,300      Bumrungrad Hospital PCL (Foreign)   673,807 
 245,600      Central Pattana PCL (Foreign)   405,765 
 551,900      Charoen Pokphand Foods PCL   444,835 
 1,802,600      CP Seven Eleven PCL (Foreign)   2,683,384 
286

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 59,000      Delta Electronics Thai PCL  $120,969 
 52,000      Electricity Generating PCL   297,217 
 372,900      Energy Absolute PCL (Foreign)   281,362 
 211,800      Glow Energy PCL (Foreign)   522,141 
 578,926      Home Product Center PCL (Foreign)   168,117 
 528,278      Indorama Ventures PCL (Foreign)   505,732 
 6,194,600      IRPC PCL (Foreign)   736,309 
 646,300      Kasikornbank PCL (Foreign)   3,709,091 
 1,447,950      Krung Thai Bank PCL (Foreign)   725,088 
 340,870      Minor International PCL (Foreign)   399,325 
 536,384      PTT Exploration & Production PCL (Foreign)   1,285,895 
 780,741      PTT Global Chemical PCL (Foreign)   1,356,154 
 401,900      PTT PCL (Foreign)   3,845,369 
 203,000      Robinson Department Store PCL   385,172 
 157,750      Siam Cement PCL (Foreign)   2,324,068 
 576,800      Siam Commercial Bank PCL (Foreign)   2,633,109 
 484,900      Thai Oil PCL (Foreign)   849,471 
 666,000      Thai Union Group PCL   417,625 
 3,120,700      TMB Bank PCL (Foreign)   202,959 
 5,286,748      True Corp PCL   1,360,139 
        TOTAL THAILAND   33,205,851 
               
TURKEY - 1.2%        
 797,914      Akbank TAS   2,062,024 
 75,143      Anadolu Efes Biracilik Ve Malt Sanayii AS   509,094 
 82,321      Arcelik AS   563,251 
 77,494      BIM Birlesik Magazalar AS   1,433,558 
 28,591      Coca-Cola Icecek AS   354,968 
 659,704      Emlak Konut Gayrimenkul Yatiri   590,909 
 440,037      Eregli Demir ve Celik Fabrikalari TAS   669,759 
 21,083      Ford Otomotiv Sanayi AS   230,023 
 358,988      Haci Omer Sabanci Holding AS   1,073,346 
 239,956      KOC Holding AS   1,029,610 
 234,889      Petkim Petrokimya Holding   339,539 
 49,701      TAV Havalimanlari Holding AS   182,326 
 35,268      Tofas Turk Otomobil Fabrik   279,246 
 62,009      Tupras Turkiye Petrol Rafine   1,327,050 
 138,049   *  Turk Hava Yollari   239,525 
 187,928      Turk Sise ve Cam Fabrikalari AS   211,711 
 178,558      Turk Telekomunikasyon AS   361,558 
 323,121      Turkcell Iletisim Hizmet AS   1,118,603 
 882,614      Turkiye Garanti Bankasi AS   2,171,069 
 239,561      Turkiye Halk Bankasi AS   632,352 
 575,693      Turkiye Is Bankasi (Series C)   888,532 
 227,268      Turkiye Vakiflar Bankasi Tao   337,172 
 56,816      Ulker Biskuvi Sanayi AS   376,678 
 320,847      Yapi ve Kredi Bankasi   371,722 
        TOTAL TURKEY   17,353,625 
               
UNITED ARAB EMIRATES - 0.8%        
 648,245      Abu Dhabi Commercial Bank PJSC   1,201,048 
 1,166,017      Aldar Properties PJSC   915,663 
 887,243   *  Arabtec Holding Co   356,116 
287

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 61,183      DP World Ltd  $1,037,477 
 899,608      Dubai Financial Market   325,617 
 433,447      Dubai Islamic Bank PJSC   637,004 
 735,021      Emaar Malls Group PJSC   579,184 
 1,290,249      Emaar Properties PJSC   2,421,039 
 648,379      Emirates Telecommunications Group Co PJSC   3,530,611 
 331,506      First Gulf Bank PJSC   1,089,699 
 237,116      National Bank of Abu Dhabi PJSC   628,189 
        TOTAL UNITED ARAB EMIRATES   12,721,647 
               
UNITED STATES - 4.0%        
 689,342   e  iShares Core MSCI Emerging Markets ETF   30,310,368 
 820,270      iShares MSCI Emerging Markets   29,718,383 
        TOTAL UNITED STATES   60,028,751 
              
        TOTAL COMMON STOCKS   1,496,576,000 
        (Cost $1,542,683,654)     
               
PREFERRED STOCKS - 0.2%        
               
BRAZIL - 0.2%        
 1,435,206   *  ITAUSA Investimentos Itau PR   3,700,445 
        TOTAL BRAZIL   3,700,445 
               
PHILIPPINES - 0.0%        
 307,700   *,m  Ayala Land, Inc (Preferred B)   653 
        TOTAL PHILIPPINES   653 
              
        TOTAL PREFERRED STOCKS   3,701,098 
        (Cost $4,157,109)     
              
RIGHTS / WARRANTS - 0.1%     
CHINA - 0.0%        
 154,225      China Resources Beer Holdings Co Ltd   62,021 
        TOTAL CHINA   62,021 
              
INDIA - 0.1%        
 158,766      Tata Motors Ltd (DVR)   769,126 
        TOTAL INDIA   769,126 
              
THAILAND - 0.0%        
 406,300      Banpu PCL   116,069 
        TOTAL THAILAND   116,069 
              
        TOTAL RIGHTS / WARRANTS   947,216 
        (Cost $711,957)     

 

PRINCIPAL    ISSUER  RATE  MATURITY DATE    
SHORT-TERM INVESTMENTS - 2.9%
GOVERNMENT AGENCY DEBT - 0.1%
$1,950,000     Federal Home Loan Bank (FHLB)    0.150 %  08/01/16   1,950,000 
       TOTAL GOVERNMENT AGENCY DEBT               1,950,000 
                       
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.8%
288

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

SHARES      COMPANY  VALUE 
         
 41,460,997   c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		  $41,460,997 
        TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES   41,460,997 
        TOTAL SHORT-TERM INVESTMENTS   43,410,997 
        (Cost $43,410,997)     
              
        TOTAL INVESTMENTS - 102.5%   1,544,635,311 
        (Cost $1,590,963,717)     
        OTHER ASSETS & LIABILITIES, NET - (2.5)%   (37,475,037)
        NET ASSETS - 100.0%  $1,507,160,274 

       
     
    Abbreviation(s):
    ADR    American Depositary Receipt
    DVR    Differential Voting Rights
    ETF     Exchange Traded Fund
    GDR    Global Depositary Receipt
    REIT   Real Estate Investment Trust

 

*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $39,479,602.
g   Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 7/31/16, the aggregate value of these securities was $4,323,443 or 0.3% of net assets.
m   Indicates a security that has been deemed illiquid.
289

TIAA-CREF FUNDS - Emerging Markets Equity Index Fund

 

TIAA-CREF FUNDS

EMERGING MARKETS EQUITY INDEX FUND

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

July 31, 2016

 

       % OF 
SECTOR  VALUE   NET ASSETS 
FINANCIALS  $406,665,931    27.0%
INFORMATION TECHNOLOGY   327,631,765    21.7 
CONSUMER DISCRETIONARY   151,366,565    10.0 
CONSUMER STAPLES   117,997,316    7.8 
ENERGY   100,322,700    6.7 
MATERIALS   97,356,234    6.5 
TELECOMMUNICATION SERVICES   96,795,465    6.4 
INDUSTRIALS   88,610,870    5.9 
UTILITIES   76,471,252    5.1 
HEALTH CARE   38,006,216    2.5 
SHORT - TERM INVESTMENTS   43,410,997    2.9 
OTHER ASSETS & LIABILITIES, NET   (37,475,037)   (2.5)
           
NET ASSETS  $1,507,160,274    100.0%
290

TIAA-CREF FUNDS - International Equity Index Fund

 

TIAA-CREF FUNDS

INTERNATIONAL EQUITY INDEX FUND

SCHEDULE OF INVESTMENTS (unaudited)

July 31, 2016

 

SHARES       COMPANY  VALUE 
               
COMMON STOCKS - 99.7%        
               
AUSTRALIA - 7.4%        
 387,878      AGL Energy Ltd  $6,072,535 
 1,443,724   e  Alumina Ltd   1,459,724 
 673,765      Amcor Ltd   7,699,893 
 1,712,854      AMP Ltd   7,578,238 
 646,854      APA Group   4,783,658 
 314,152      Aristocrat Leisure Ltd   3,812,838 
 335,672   m  Asciano Group   2,334,110 
 1,049,117      AusNet Services   1,411,670 
 1,694,136      Australia & New Zealand Banking Group Ltd   33,331,207 
 111,980      Australian Stock Exchange Ltd   4,235,123 
 216,511      Bank of Queensland Ltd   1,741,822 
 261,049      Bendigo Bank Ltd   2,017,121 
 1,864,412      BHP Billiton Ltd   27,634,647 
 1,226,478      BHP Billiton plc   15,464,082 
 433,183      Boral Ltd   2,265,363 
 916,656      Brambles Ltd   9,377,124 
 156,788      Caltex Australia Ltd   3,965,019 
 325,861      Challenger Financial Services Group Ltd   2,356,267 
 64,599      CIMIC Group Ltd   1,436,751 
 323,299      Coca-Cola Amatil Ltd   2,261,645 
 33,287      Cochlear Ltd   3,363,025 
 991,542      Commonwealth Bank of Australia   58,368,710 
 264,683      Computershare Ltd   1,787,132 
 214,796      Crown Resorts Ltd   2,140,586 
 268,762      CSL Ltd   24,101,136 
 559,091      Dexus Property Group   4,152,190 
 35,635      Domino’s Pizza Enterprises Ltd   2,041,567 
 1,333,977      DUET Group (ASE Exchange)   2,730,758 
 33,147   e  Flight Centre Travel Group Ltd   812,325 
 904,478      Fortescue Metals Group Ltd   3,084,840 
 1,032,462      GPT Group (ASE)   4,403,463 
 328,233      Harvey Norman Holdings Ltd   1,207,516 
 1,011,687      Healthscope Ltd   2,278,551 
 995,567      Incitec Pivot Ltd   2,179,782 
 1,410,953      Insurance Australia Group Ltd   6,489,696 
 314,167      Lend Lease Corp Ltd   3,206,552 
 1,027,652      Macquarie Goodman Group   5,893,987 
 178,040      Macquarie Group Ltd   10,080,106 
 1,601,226      Medibank Pvt Ltd   3,737,639 
 2,132,954      Mirvac Group   3,568,240 
 1,531,198      National Australia Bank Ltd   30,954,894 
 446,753   *  Newcrest Mining Ltd   8,701,207 
 793,900      Oil Search Ltd   4,350,425 
 213,876   e  Orica Ltd   2,309,190 
291

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 1,021,288      Origin Energy Ltd  $4,306,451 
 143,667   e  Platinum Asset Mangement Ltd   661,964 
 311,237      Qantas Airways Ltd   747,260 
 795,198      QBE Insurance Group Ltd   6,637,171 
 1,215,310      QR National Ltd   4,809,183 
 81,598      Ramsay Health Care Ltd   4,888,184 
 31,274      REA Group Ltd   1,553,085 
 936,436      Santos Ltd   3,201,185 
 3,134,534      Scentre Group   12,633,643 
 192,566      Seek Ltd   2,450,290 
 227,887      Sonic Healthcare Ltd   3,981,013 
 3,107,269   *  South32 Ltd   4,381,509 
 1,383,065      Stockland Trust Group   5,307,768 
 745,151      Suncorp-Metway Ltd   7,607,046 
 633,619      Sydney Airport   3,648,803 
 478,385      Tabcorp Holdings Ltd   1,780,014 
 833,452      Tattersall’s Ltd   2,615,762 
 2,477,609      Telstra Corp Ltd   10,867,039 
 193,780      TPG Telecom Ltd   1,894,285 
 1,183,574      Transurban Group (ASE)   11,308,591 
 432,400      Treasury Wine Estates Ltd   3,176,137 
 1,942,350      Vicinity Centres   5,118,380 
 298,294      Vocus Communications Ltd   2,028,468 
 653,613      Wesfarmers Ltd   21,377,165 
 1,136,120      Westfield Corp   9,235,750 
 1,936,478      Westpac Banking Corp   45,821,589 
 429,991      Woodside Petroleum Ltd   8,783,600 
 738,163      Woolworths Ltd   13,154,890 
        TOTAL AUSTRALIA   537,158,579 
               
AUSTRIA - 0.2%        
 42,332      Andritz AG.   2,158,310 
 162,286      Erste Bank der Oesterreichischen Sparkassen AG.   4,300,820 
 69,565   *,e,m  Immoeast AG.   0 
 83,228      OMV AG.   2,223,072 
 68,947   *  Raiffeisen International Bank Holding AG.   909,739 
 65,531      Voestalpine AG.   2,310,983 
        TOTAL AUSTRIA   11,902,924 
               
BELGIUM - 1.3%        
 117,243      Ageas   3,941,557 
 466,790      Anheuser-Busch InBev NV   60,305,599 
 88,861      Belgacom S.A.   2,773,872 
 39,552      Colruyt S.A.   2,206,281 
 46,020      Groupe Bruxelles Lambert S.A.   3,882,250 
 144,643      KBC Groep NV   7,518,757 
 42,752      Solvay S.A.   4,437,893 
 29,985   *  Telenet Group Holding NV   1,422,084 
 74,172      UCB S.A.   5,803,509 
 54,830      Umicore   3,172,444 
        TOTAL BELGIUM   95,464,246 
292

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
CHILE - 0.0%        
 223,436   e  Antofagasta plc  $1,478,875 
        TOTAL CHILE   1,478,875 
               
CHINA - 0.0%        
 1,161,500      Yangzijiang Shipbuilding   757,845 
        TOTAL CHINA   757,845 
               
DENMARK - 1.9%        
 2,205      AP Moller - Maersk AS (Class A)   2,883,004 
 3,710      AP Moller - Maersk AS (Class B)   5,040,066 
 61,801      Carlsberg AS (Class B)   6,137,649 
 56,955      Christian Hansen Holding   3,581,961 
 70,298      Coloplast AS   5,508,897 
 408,474      Danske Bank AS   11,108,489 
 112,251      DSV AS   4,998,368 
 32,876   *  Genmab AS   5,960,709 
 96,955      ISS A.S.   3,739,689 
 1,077,155      Novo Nordisk AS   61,253,800 
 135,301      Novozymes AS   6,640,479 
 67,456      Pandora AS   8,786,218 
 477,827      TDC AS   2,515,730 
 65,376      Tryg A.S.   1,218,691 
 130,105      Vestas Wind Systems AS   9,095,747 
 83,845   *  William Demant Holding A.S.   1,712,132 
        TOTAL DENMARK   140,181,629 
               
FINLAND - 1.0%        
 82,164      Elisa Oyj (Series A)   2,980,953 
 258,799      Fortum Oyj   4,299,182 
 195,691      Kone Oyj (Class B)   9,915,453 
 64,479      Metso Oyj   1,789,224 
 73,510      Neste Oil Oyj   2,789,667 
 3,351,678      Nokia Oyj (Turquoise)   19,337,494 
 67,633      Nokian Renkaat Oyj   2,514,252 
 59,611      Orion Oyj (Class B)   2,442,121 
 258,674      Sampo Oyj (A Shares)   10,715,218 
 322,664      Stora Enso Oyj (R Shares)   2,931,235 
 308,839      UPM-Kymmene Oyj   6,369,029 
 85,186      Wartsila Oyj (B Shares)   3,698,000 
        TOTAL FINLAND   69,781,828 
               
FRANCE - 9.4%        
 102,088      Accor S.A.   4,273,830 
 17,358      Aeroports de Paris   1,846,327 
 199,893      Air Liquide   21,310,874 
 88,547   *  Alstom RGPT   2,180,427 
 38,980      Arkema   3,329,443 
 50,758      Atos Origin S.A.   4,975,583 
 1,126,419      AXA S.A.   22,925,274 
 615,085      BNP Paribas   30,510,851 
 537,974      Bollore   1,947,829 
 118,832      Bouygues S.A.   3,520,146 
 153,613      Bureau Veritas S.A.   3,338,455 
293

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 94,202      Cap Gemini S.A.  $9,055,032 
 321,617      Carrefour S.A.   8,057,441 
 32,367      Casino Guichard Perrachon S.A.   1,754,246 
 32,466      Christian Dior S.A.   5,871,921 
 112,251      CNP Assurances   1,715,008 
 276,294      Compagnie de Saint-Gobain   11,729,293 
 612,224      Credit Agricole S.A.   5,423,269 
 73,831      Dassault Systemes S.A.   6,098,294 
 120,257      Edenred   2,728,132 
 32,919      Eiffage S.A.   2,530,986 
 150,003      Electricite de France   1,963,416 
 119,234      Essilor International S.A.   15,272,378 
 23,939      Eurazeo   1,530,516 
 341,767      European Aeronautic Defence and Space Co   20,161,879 
 101,482      Eutelsat Communications   2,018,156 
 20,468      Fonciere Des Regions   1,925,992 
 1,152,999   *  France Telecom S.A.   17,695,124 
 847,364      Gaz de France   13,947,239 
 23,847      Gecina S.A.   3,614,330 
 342,214      Groupe Danone   26,245,651 
 266,899      Groupe Eurotunnel S.A.   2,773,807 
 15,731      Hermes International   6,770,091 
 21,355      Icade   1,647,504 
 15,392      Iliad S.A.   2,991,390 
 20,331      Imerys S.A.   1,443,174 
 32,156      Ingenico   3,525,341 
 43,716      JC Decaux S.A.   1,494,201 
 44,006      Kering   8,363,269 
 125,921      Klepierre   6,038,026 
 67,170      Lagardere S.C.A.   1,715,941 
 153,608      Legrand S.A.   8,475,700 
 146,939      L’Oreal S.A.   27,919,055 
 161,797      LVMH Moet Hennessy Louis Vuitton S.A.   27,706,491 
 105,632      Michelin (C.G.D.E.) (Class B)   10,796,412 
 551,350      Natixis   2,273,506 
 65,185      Numericable-SFR  SAS   1,541,215 
 123,095      Pernod-Ricard S.A.   14,064,974 
 278,946   *  Peugeot S.A.   4,213,176 
 109,735      Publicis Groupe S.A.   8,171,459 
 13,188   e  Remy Cointreau S.A.   1,153,472 
 111,552      Renault S.A.   9,753,450 
 172,120      Rexel S.A.   2,559,739 
 181,364      Safran S.A.   12,328,435 
 682,184      Sanofi-Aventis   58,103,850 
 323,778      Schneider Electric S.A.   21,124,306 
 92,159      SCOR SE   2,692,301 
 16,382      Societe BIC S.A.   2,421,254 
 444,682      Societe Generale   15,160,864 
 54,518      Sodexho Alliance S.A.   6,385,737 
 185,922      Suez Environnement S.A.   3,017,393 
 62,174      Technip S.A.   3,485,938 
 61,186      Thales S.A.   5,572,798 
 1,282,265   *  Total S.A.   61,669,028 
294

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 57,247      Unibail-Rodamco  $15,772,804 
 137,781      Valeo S.A.   7,068,322 
 261,382      Veolia Environnement   5,792,989 
 290,781      Vinci S.A.   22,100,865 
 675,949      Vivendi Universal S.A.   13,272,731 
 16,872      Wendel   1,802,089 
 119,306      Zodiac S.A.   2,686,455 
        TOTAL FRANCE   675,346,894 
               
GERMANY - 8.7%        
 109,409      Adidas-Salomon AG.   17,972,815 
 265,315      Allianz AG.   38,015,577 
 25,622      Axel Springer AG.   1,404,278 
 533,358      BASF SE   41,896,112 
 480,029      Bayer AG.   51,602,082 
 192,035      Bayerische Motoren Werke AG.   16,546,518 
 31,158      Bayerische Motoren Werke AG. (Preference)   2,258,302 
 58,467      Beiersdorf AG.   5,492,967 
 89,584      Brenntag AG.   4,450,177 
 621,124      Commerzbank AG.   4,099,956 
 63,800      Continental AG.   13,379,965 
 43,940   g  Covestro AG.   2,053,893 
 558,950      Daimler AG. (Registered)   37,999,698 
 270,090      Deutsche Annington Immobilien SE   10,708,351 
 800,436      Deutsche Bank AG.   10,764,513 
 2,205      Deutsche Boerse AG.   185,135 
 110,019   *  Deutsche Boerse AG.   9,200,497 
 132,383      Deutsche Lufthansa AG.   1,573,594 
 563,232      Deutsche Post AG.   16,809,128 
 1,871,394      Deutsche Telekom AG.   31,837,221 
 194,246      Deutsche Wohnen AG.   7,272,344 
 1,161,270      E.ON AG.   12,454,467 
 81,232      Evonik Industries AG.   2,533,921 
 23,486      Fraport AG. Frankfurt Airport Services Worldwide   1,284,473 
 126,706      Fresenius Medical Care AG.   11,573,000 
 237,324      Fresenius SE   17,727,571 
 39,599      Fuchs Petrolub AG. (Preference)   1,672,068 
 105,132      GEA Group AG.   5,613,419 
 35,123      Hannover Rueckversicherung AG.   3,592,535 
 81,035      HeidelbergCement AG.   6,864,540 
 61,583      Henkel KGaA   6,684,990 
 102,948      Henkel KGaA (Preference)   12,827,916 
 11,649      Hochtief AG.   1,527,646 
 39,227      Hugo Boss AG.   2,327,953 
 656,406      Infineon Technologies AG.   10,881,884 
 111,972   e  K&S AG.   2,340,441 
 52,168      Lanxess AG.   2,464,912 
 107,732      Linde AG.   15,482,674 
 23,243      MAN AG.   2,437,184 
 75,031      Merck KGaA   8,286,118 
 101,798      Metro AG.   3,275,183 
 96,834      Muenchener Rueckver AG.   16,149,085 
 51,663      Osram Licht AG.   2,687,886 
295

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 89,046      Porsche AG.  $4,656,594 
 127,078      ProSiebenSat. Media AG.   5,821,029 
 284,701      RWE AG.   5,064,014 
 570,645      SAP AG.   49,944,782 
 95,733      Schaeffler AG.   1,397,136 
 443,989      Siemens AG.   48,193,424 
 71,586      Symrise AG.   5,047,734 
 460,763      Telefonica Deutschland Holding AG.   1,881,311 
 212,947      ThyssenKrupp AG.   4,883,414 
 289,168      TUI AG. (DI)   3,764,638 
 69,752      United Internet AG.   3,087,049 
 18,791      Volkswagen AG.   2,778,687 
 107,879      Volkswagen AG. (Preference)   15,177,849 
 49,764   *,g  Zalando SE   1,886,895 
        TOTAL GERMANY   629,797,545 
               
HONG KONG - 3.3%        
 6,995,400      AIA Group Ltd   43,575,673 
 139,700      ASM Pacific Technology   1,039,927 
 689,319   e  Bank of East Asia Ltd   2,853,604 
 2,129,500      BOC Hong Kong Holdings Ltd   7,011,369 
 673,000      Cathay Pacific Airways Ltd   1,094,506 
 391,000      Cheung Kong Infrastructure Holdings Ltd   3,461,437 
 1,564,836      Cheung Kong Property Holdings Ltd   11,228,806 
 1,565,836      CK Hutchison Holdings Ltd   18,353,052 
 953,500      CLP Holdings Ltd   9,937,274 
 1,199,750      First Pacific Co   933,088 
 1,371,000      Galaxy Entertainment Group Ltd   4,570,674 
 1,280,000      Hang Lung Properties Ltd   2,773,995 
 441,400      Hang Seng Bank Ltd   7,901,847 
 691,142      Henderson Land Development Co Ltd   4,125,568 
 1,555,500   e,g  HK Electric Investments & HK Electric Investments Ltd   1,490,080 
 1,555,640      HKT Trust and HKT Ltd   2,458,258 
 4,378,273      Hong Kong & China Gas Ltd   8,141,039 
 803,000      Hong Kong Electric Holdings Ltd   7,871,720 
 666,646      Hong Kong Exchanges and Clearing Ltd   16,504,943 
 676,600      Hongkong Land Holdings Ltd   4,341,225 
 2,893,900      Hutchison Port Holdings Trust   1,376,926 
 371,792      Hysan Development Co Ltd   1,714,526 
 142,600      Jardine Matheson Holdings Ltd   8,481,058 
 369,623      Kerry Properties Ltd   1,013,657 
 3,336,600      Li & Fung Ltd   1,671,704 
 1,302,991      Link REIT   9,734,819 
 110,300      Melco Crown Entertainment Ltd (ADR)   1,539,788 
 924,428      MTR Corp   5,235,538 
 3,222,581      New World Development Co Ltd   3,755,580 
 6,471,798   e  Noble Group Ltd   788,018 
 860,341      NWS Holdings Ltd   1,410,825 
 2,305,959      PCCW Ltd   1,680,056 
 1,405,600      Sands China Ltd   5,378,085 
 748,192      Shangri-La Asia Ltd   804,998 
 1,773,143      Sino Land Co   3,172,605 
 1,061,000      SJM Holdings Ltd   665,127 
296

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 837,186      Sun Hung Kai Properties Ltd  $12,012,321 
 311,000      Swire Pacific Ltd (Class A)   3,726,981 
 720,800      Swire Properties Ltd   2,011,308 
 793,000      Techtronic Industries Co   3,358,144 
 3,349,000   g  WH Group Ltd   2,644,718 
 785,762      Wharf Holdings Ltd   5,430,391 
 467,000      Wheelock & Co Ltd   2,504,241 
 424,500      Yue Yuen Industrial Holdings   1,724,953 
        TOTAL HONG KONG   241,504,452 
               
IRELAND - 0.7%        
 99,255   *  AerCap Holdings NV   3,623,800 
 15,616,186   *  Bank of Ireland   3,228,797 
 477,578      CRH plc   14,573,384 
 557,223      Experian Group Ltd   10,899,576 
 67,097   *,m  Irish Bank Resolution Corp Ltd   0 
 256,356      James Hardie Industries NV   4,253,499 
 91,807      Kerry Group plc (Class A)   7,855,439 
 46,061      Paddy Power plc   5,402,296 
 40,148      Ryanair Holdings plc   534,091 
 10,577      Ryanair Holdings plc (ADR)   748,534 
        TOTAL IRELAND   51,119,416 
               
ISRAEL - 0.7%        
 24,275      Azrieli Group   1,068,235 
 610,661      Bank Hapoalim Ltd   3,112,926 
 820,416   *  Bank Leumi Le-Israel   2,956,242 
 1,196,946      Bezeq Israeli Telecommunication Corp Ltd   2,375,514 
 76,451   *  Check Point Software Technologies   5,877,553 
 291,989      Israel Chemicals Ltd   1,175,996 
 79,939      Mizrahi Tefahot Bank Ltd   971,049 
 35,590      Nice Systems Ltd   2,445,427 
 533,283      Teva Pharmaceutical Industries Ltd   29,187,933 
        TOTAL ISRAEL   49,170,875 
               
ITALY - 1.8%        
 677,464      Assicurazioni Generali S.p.A.   8,924,515 
 237,431      Autostrade S.p.A.   5,939,632 
 7,371,183      Banca Intesa S.p.A.   16,265,679 
 544,472      Banca Intesa S.p.A. RSP   1,137,351 
 525,038   e  Banche Popolari Unite Scpa   1,613,008 
 4,431,997      Enel S.p.A.   20,398,566 
 1,477,451      ENI S.p.A.   22,664,131 
 63,771      Exor S.p.A.   2,488,410 
 71,531   e  Ferrari NV   3,238,234 
 235,512   *  Finmeccanica S.p.A.   2,690,413 
 642,841      Fondiaria-Sai S.p.A   1,078,513 
 97,747      Luxottica Group S.p.A.   4,751,871 
 332,134      Mediobanca S.p.A.   2,328,551 
 307,668   g  Poste Italiane S.p.A   2,143,777 
 113,336      Prysmian S.p.A.   2,654,019 
 3,368,347   *  Saipem S.p.A.   1,475,837 
 1,426,726      Snam Rete Gas S.p.A.   8,258,709 
297

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 3,480,873      Telecom Italia RSP  $2,426,708 
 5,875,479   *  Telecom Italia S.p.A.   5,020,531 
 874,685      Terna Rete Elettrica Nazionale S.p.A.   4,764,678 
 2,953,811      UniCredit S.p.A   7,246,522 
        TOTAL ITALY   127,509,655 
               
JAPAN - 23.1%        
 18,800      ABC-Mart, Inc   1,203,101 
 236,800   *,e  Acom Co Ltd   1,120,213 
 379,400      Aeon Co Ltd   5,451,665 
 60,600      AEON Financial Service Co Ltd   1,395,442 
 67,500      Aeon Mall Co Ltd   906,859 
 87,000      Air Water, Inc   1,479,293 
 110,000      Aisin Seiki Co Ltd   5,026,624 
 322,100      Ajinomoto Co, Inc   8,222,224 
 110,000      Alfresa Holdings Corp   2,411,529 
 682,000      All Nippon Airways Co Ltd   1,946,795 
 108,000      Alps Electric Co Ltd   2,405,517 
 197,800      Amada Co Ltd   2,155,665 
 673,000      Aozora Bank Ltd   2,469,509 
 224,300      Asahi Breweries Ltd   7,614,371 
 583,000      Asahi Glass Co Ltd   3,349,190 
 733,000      Asahi Kasei Corp   5,540,393 
 91,700      Asics Corp   1,682,803 
 1,225,600      Astellas Pharma, Inc   20,420,613 
 180,000      Bank of Kyoto Ltd   1,211,688 
 40,500      Benesse Holdings Inc   978,423 
 377,800      Bridgestone Corp   13,083,568 
 135,700      Brother Industries Ltd   1,542,101 
 45,800      Calbee, Inc   1,999,694 
 619,800      Canon, Inc   17,589,602 
 130,700      Casio Computer Co Ltd   1,860,488 
 83,700      Central Japan Railway Co   15,557,597 
 408,000      Chiba Bank Ltd   1,950,213 
 372,500      Chubu Electric Power Co, Inc   5,472,637 
 131,458      Chugai Pharmaceutical Co Ltd   4,912,773 
 98,900      Chugoku Bank Ltd   1,114,061 
 158,900   *  Chugoku Electric Power Co, Inc   1,995,456 
 684,700   *  Concordia Financial Group Ltd   2,910,411 
 85,900      Credit Saison Co Ltd   1,430,427 
 60,900   *,e  CYBERDYNE, Inc   1,173,072 
 316,000      Dai Nippon Printing Co Ltd   3,528,008 
 167,200      Daicel Chemical Industries Ltd   1,875,045 
 110,000   m  Daihatsu Motor Co Ltd   1,602,597 
 625,700      Dai-ichi Mutual Life Insurance Co   8,084,361 
 349,700      Daiichi Sankyo Co Ltd   8,339,098 
 136,200      Daikin Industries Ltd   11,811,712 
 41,500      Daito Trust Construction Co Ltd   6,968,667 
 328,500      Daiwa House Industry Co Ltd   9,211,418 
 956,000      Daiwa Securities Group, Inc   5,365,436 
 282,100      Denso Corp   10,922,807 
 124,700      Dentsu, Inc   5,957,498 
 69,400      Don Quijote Co Ltd   2,723,748 
298

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 193,700      East Japan Railway Co  $17,768,037 
 146,300      Eisai Co Ltd   8,554,374 
 85,600      Electric Power Development Co   1,967,273 
 31,500      FamilyMart Co Ltd   1,854,921 
 113,600   *  Fanuc Ltd   18,994,832 
 30,800      Fast Retailing Co Ltd   9,939,377 
 326,000   *  Fuji Electric Holdings Co Ltd   1,438,843 
 341,300      Fuji Heavy Industries Ltd   13,039,288 
 254,100      Fujifilm Holdings Corp   9,116,711 
 1,084,000      Fujitsu Ltd   4,500,207 
 457,000      Fukuoka Financial Group, Inc   1,746,027 
 255,000   *,e  GungHo Online Entertainment Inc   575,242 
 242,400      Hachijuni Bank Ltd   1,134,011 
 122,200      Hakuhodo DY Holdings, Inc   1,426,219 
 81,700      Hamamatsu Photonics KK   2,398,572 
 140,200      Hankyu Hanshin Holdings, Inc   5,215,904 
 12,600      Hikari Tsushin, Inc   1,046,632 
 148,700      Hino Motors Ltd   1,552,892 
 18,200      Hirose Electric Co Ltd   2,251,207 
 296,000      Hiroshima Bank Ltd   1,071,886 
 36,500      Hisamitsu Pharmaceutical Co, Inc   2,063,759 
 58,200      Hitachi Chemical Co Ltd   1,213,972 
 65,400   *  Hitachi Construction Machinery Co Ltd   1,063,622 
 40,100      Hitachi High-Technologies Corp   1,364,290 
 2,805,000   *  Hitachi Ltd   12,816,390 
 124,900      Hitachi Metals Ltd   1,388,610 
 98,700   *  Hokuriku Electric Power Co   1,170,771 
 946,500      Honda Motor Co Ltd   25,638,609 
 29,400      Hoshizaki Electric Co Ltd   2,660,408 
 234,800   *  Hoya Corp   8,330,899 
 51,600      Idemitsu Kosan Co Ltd   1,010,250 
 84,300      Iida Group Holdings Co Ltd   1,668,957 
 554,800      Inpex Holdings, Inc   4,410,560 
 191,880      Isetan Mitsukoshi Holdings Ltd   1,885,413 
 852,000      Ishikawajima-Harima Heavy Industries Co Ltd   2,370,680 
 341,100      Isuzu Motors Ltd   4,415,582 
 867,100      Itochu Corp   9,831,051 
 144,700      Iyo Bank Ltd   932,588 
 137,700      J Front Retailing Co Ltd   1,588,958 
 68,600      Japan Airlines Co Ltd   2,114,855 
 27,600   e  Japan Airport Terminal Co Ltd   1,215,832 
 241,500   *  Japan Post Bank Co Ltd   2,946,876 
 268,600   *  Japan Post Holdings Co Ltd   3,547,390 
 489      Japan Prime Realty Investment Corp   2,152,778 
 759   *  Japan Real Estate Investment Corp   4,588,614 
 1,470   *  Japan Retail Fund Investment Corp   3,616,756 
 638,600      Japan Tobacco, Inc   24,905,221 
 307,600      JFE Holdings, Inc   4,008,929 
 120,900      JGC Corp   1,769,935 
 352,000      Joyo Bank Ltd   1,375,471 
 110,800      JSR Corp   1,513,418 
 129,000      JTEKT Corp   1,801,866 
 1,218,200      JX Holdings, Inc   4,615,602 
299

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 517,000      Kajima Corp  $3,821,572 
 85,100   e  Kakaku.com, Inc   1,765,544 
 131,000      Kamigumi Co Ltd   1,178,910 
 165,000      Kaneka Corp   1,242,616 
 411,900   *  Kansai Electric Power Co, Inc   3,832,524 
 125,900      Kansai Paint Co Ltd   2,636,570 
 292,600      Kao Corp   15,757,443 
 823,000      Kawasaki Heavy Industries Ltd   2,421,165 
 1,093,800      KDDI Corp   33,565,557 
 298,000      Keihan Electric Railway Co Ltd   2,142,742 
 273,000      Keihin Electric Express Railway Co Ltd   2,765,783 
 335,000      Keio Corp   3,117,015 
 162,000      Keisei Electric Railway Co Ltd   2,123,759 
 26,500      Keyence Corp   18,692,394 
 85,000      Kikkoman Corp   3,018,128 
 1,036,000      Kintetsu Corp   4,475,624 
 477,300      Kirin Brewery Co Ltd   8,191,541 
 1,730,000   *  Kobe Steel Ltd   1,497,110 
 66,000   *  Koito Manufacturing Co Ltd   3,258,885 
 535,400      Komatsu Ltd   10,403,760 
 57,300      Konami Corp   2,221,615 
 265,900      Konica Minolta Holdings, Inc   2,136,935 
 17,500      Kose Corp   1,611,555 
 613,200      Kubota Corp   8,883,514 
 202,000      Kuraray Co Ltd   2,547,632 
 59,500      Kurita Water Industries Ltd   1,318,834 
 186,400      Kyocera Corp   8,830,842 
 150,500      Kyowa Hakko Kogyo Co Ltd   2,629,505 
 244,500   *  Kyushu Electric Power Co, Inc   2,290,742 
 206,700      Kyushu Financial Group, Inc   1,141,968 
 37,800      Lawson, Inc   2,910,538 
 154,600      LIXIL Group Corp   2,875,389 
 114,600      M3, Inc   3,667,088 
 29,500      Mabuchi Motor Co Ltd   1,335,831 
 65,000   *  Makita Corp   4,573,113 
 951,200      Marubeni Corp   4,422,200 
 124,200      Marui Co Ltd   1,791,171 
 34,100      Maruichi Steel Tube Ltd   1,259,809 
 1,280,700      Matsushita Electric Industrial Co Ltd   12,316,085 
 328,600      Mazda Motor Corp   4,805,780 
 40,300   *,e  McDonald’s Holdings Co Japan Ltd   1,235,535 
 98,700      Mediceo Paltac Holdings Co Ltd   1,615,140 
 66,700      MEIJI Holdings Co Ltd   6,953,893 
 199,900      Minebea Co Ltd   1,585,277 
 33,200      Miraca Holdings, Inc   1,529,186 
 782,900      Mitsubishi Chemical Holdings Corp   4,228,833 
 876,100      Mitsubishi Corp   15,073,016 
 1,121,000      Mitsubishi Electric Corp   13,069,129 
 727,000      Mitsubishi Estate Co Ltd   13,520,437 
 209,000      Mitsubishi Gas Chemical Co, Inc   1,190,721 
 1,869,000      Mitsubishi Heavy Industries Ltd   7,945,124 
 69,000      Mitsubishi Logistics Corp   960,732 
 660,000      Mitsubishi Materials Corp   1,734,441 
300

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 399,099      Mitsubishi Motors Corp  $1,860,406 
 7,404,980      Mitsubishi UFJ Financial Group, Inc   37,436,055 
 247,300      Mitsubishi UFJ Lease & Finance Co Ltd   995,039 
 989,500      Mitsui & Co Ltd   11,592,831 
 530,000      Mitsui Chemicals, Inc   2,241,803 
 518,000      Mitsui Fudosan Co Ltd   11,212,474 
 663,000      Mitsui OSK Lines Ltd   1,412,055 
 294,200      Mitsui Sumitomo Insurance Group Holdings, Inc   8,476,411 
 1,924,000      Mitsui Trust Holdings, Inc   6,393,866 
 27,400      Mixi Inc   981,552 
 13,699,507      Mizuho Financial Group, Inc   21,978,467 
 110,900      Murata Manufacturing Co Ltd   13,541,072 
 64,700   *  Nabtesco Corp   1,740,382 
 531,000      Nagoya Railroad Co Ltd   2,982,942 
 115,600      Namco Bandai Holdings, Inc   3,064,127 
 1,515,000      NEC Corp   4,137,260 
 100,900      Nexon Co Ltd   1,495,833 
 151,600      NGK Insulators Ltd   3,619,303 
 102,688      NGK Spark Plug Co Ltd   1,675,836 
 121,200      NHK Spring Co Ltd   1,059,219 
 138,500      Nidec Corp   12,567,636 
 198,900      Nikon Corp   2,810,610 
 65,800      Nintendo Co Ltd   13,657,946 
 819      Nippon Building Fund, Inc   5,039,475 
 245,000      Nippon Electric Glass Co Ltd   1,112,221 
 473,000      Nippon Express Co Ltd   2,386,018 
 101,000      Nippon Meat Packers, Inc   2,456,140 
 93,700      Nippon Paint Co Ltd   2,559,793 
 915   *  Nippon ProLogis REIT, Inc   2,288,203 
 469,000   *  Nippon Steel Corp   8,817,002 
 401,600      Nippon Telegraph & Telephone Corp   19,083,933 
 927,000      Nippon Yusen Kabushiki Kaisha   1,640,552 
 1,443,600      Nissan Motor Co Ltd   13,986,276 
 115,200      Nisshin Seifun Group, Inc   1,901,659 
 34,100      Nissin Food Products Co Ltd   1,935,876 
 46,700      Nitori Co Ltd   5,808,198 
 96,000      Nitto Denko Corp   6,433,998 
 203,600      NKSJ Holdings, Inc   6,576,140 
 55,700      NOK Corp   1,059,126 
 2,106,500   *  Nomura Holdings, Inc   9,481,686 
 72,400      Nomura Real Estate Holdings, Inc   1,248,621 
 2,041   *  Nomura Real Estate Master Fund, Inc   3,382,387 
 70,500   *  Nomura Research Institute Ltd   2,486,580 
 263,100      NSK Ltd   2,213,062 
 73,100      NTT Data Corp   3,627,450 
 829,300      NTT DoCoMo, Inc   22,527,385 
 72,700      NTT Urban Development Corp   774,804 
 379,700      Obayashi Corp   4,152,682 
 38,100      Obic Co Ltd   2,217,901 
 337,000      Odakyu Electric Railway Co Ltd   3,989,736 
 488,000      OJI Paper Co Ltd   2,035,128 
 168,800      Olympus Corp   5,824,920 
 111,100      Omron Corp   3,684,361 
301

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 239,700      Ono Pharmaceutical Co Ltd  $8,621,495 
 23,300   *  Oracle Corp Japan   1,417,482 
 126,800      Oriental Land Co Ltd   8,019,405 
 768,400      ORIX Corp   10,783,393 
 1,088,000   *  Osaka Gas Co Ltd   4,390,995 
 302,000      Osaka Securities Exchange Co Ltd   4,256,137 
 29,500      Otsuka Corp   1,511,321 
 226,700      Otsuka Holdings KK   10,777,303 
 60,700      Park24 Co Ltd   2,055,802 
 13,300      Pola Orbis Holdings, Inc   1,309,231 
 540,400   *  Rakuten, Inc   6,115,508 
 164,600      Recruit Holdings Co Ltd   6,252,465 
 1,269,500      Resona Holdings, Inc   5,063,765 
 386,700      Ricoh Co Ltd   3,415,364 
 19,800      Rinnai Corp   1,938,797 
 53,100      Rohm Co Ltd   2,259,461 
 13,900      Ryohin Keikaku Co Ltd   3,085,965 
 26,500      Sankyo Co Ltd   964,858 
 214,800      Santen Pharmaceutical Co Ltd   3,571,861 
 127,640      SBI Holdings, Inc   1,382,238 
 122,100      Secom Co Ltd   9,197,860 
 106,700      Sega Sammy Holdings, Inc   1,168,385 
 97,600      Seibu Holdings, Inc   1,711,523 
 162,700      Seiko Epson Corp   2,862,631 
 236,700      Sekisui Chemical Co Ltd   3,442,510 
 349,700      Sekisui House Ltd   5,826,448 
 437,600      Seven & I Holdings Co Ltd   18,170,498 
 333,300      Seven Bank Ltd   1,138,611 
 97,800      Shikoku Electric Power Co, Inc   1,021,434 
 136,000      Shimadzu Corp   1,968,290 
 12,700      Shimamura Co Ltd   1,852,835 
 42,800      Shimano, Inc   6,693,520 
 318,000      Shimizu Corp   3,241,214 
 225,800      Shin-Etsu Chemical Co Ltd   15,408,381 
 1,056,000      Shinsei Bank Ltd   1,584,173 
 173,800      Shionogi & Co Ltd   9,014,626 
 220,500      Shiseido Co Ltd   6,177,699 
 303,000      Shizuoka Bank Ltd   2,248,520 
 172,900      Shoei Co Ltd   1,793,449 
 109,900      Showa Shell Sekiyu KK   985,638 
 33,200      SMC Corp   8,681,121 
 557,800      Softbank Corp   30,703,775 
 41,400      Sohgo Security Services Co Ltd   2,044,456 
 733,300      Sony Corp   24,071,954 
 101,600      Sony Financial Holdings, Inc   1,272,779 
 86,700      Stanley Electric Co Ltd   2,101,860 
 34,300      Start Today Co Ltd   1,634,569 
 912,009      Sumitomo Chemical Co Ltd   4,036,522 
 689,200      Sumitomo Corp   7,229,114 
 93,300   e  Sumitomo Dainippon Pharma Co Ltd   1,743,922 
 437,700      Sumitomo Electric Industries Ltd   6,030,146 
 323,000      Sumitomo Heavy Industries Ltd   1,532,455 
 287,000      Sumitomo Metal Mining Co Ltd   3,449,704 
302

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 780,300      Sumitomo Mitsui Financial Group, Inc  $24,734,979 
 208,000      Sumitomo Realty & Development Co Ltd   5,381,841 
 98,900      Sumitomo Rubber Industries, Inc   1,395,943 
 21,800      Sundrug Co Ltd   1,891,075 
 80,600      Suntory Beverage & Food Ltd   3,504,359 
 100,900      Suruga Bank Ltd   2,300,653 
 44,900      Suzuken Co Ltd   1,432,042 
 211,800      Suzuki Motor Corp   6,486,233 
 91,100      Sysmex Corp   6,310,656 
 335,700      T&D Holdings, Inc   3,423,469 
 683,000      Taiheiyo Cement Corp   1,951,974 
 613,000      Taisei Corp   5,512,866 
 22,000      Taisho Pharmaceutical Holdings Co Ltd   2,408,880 
 77,200      Taiyo Nippon Sanso Corp   743,082 
 176,000      Takashimaya Co Ltd   1,333,444 
 412,800      Takeda Pharmaceutical Co Ltd   18,393,648 
 130,700      Tanabe Seiyaku Co Ltd   2,439,813 
 71,600      TDK Corp   4,393,109 
 545,000      Teijin Ltd   2,049,815 
 198,500      Terumo Corp   8,514,613 
 71,300      THK Co Ltd   1,408,716 
 548,000      Tobu Railway Co Ltd   2,954,803 
 64,500      Toho Co Ltd   1,876,508 
 225,000      Toho Gas Co Ltd   1,980,077 
 263,100      Tohoku Electric Power Co, Inc   3,380,080 
 395,500      Tokio Marine Holdings, Inc   15,308,708 
 832,900   *  Tokyo Electric Power Co, Inc   3,266,852 
 91,200      Tokyo Electron Ltd   7,835,392 
 1,180,000      Tokyo Gas Co Ltd   5,023,147 
 120,000      Tokyo Tatemono Co Ltd   1,494,174 
 615,000      Tokyu Corp   5,054,328 
 295,100      Tokyu Fudosan Holdings Corp   1,746,130 
 172,000      TonenGeneral Sekiyu KK   1,553,881 
 297,000      Toppan Printing Co Ltd   2,619,540 
 845,000      Toray Industries, Inc   7,697,862 
 2,345,000   *  Toshiba Corp   6,064,202 
 81,700   *  Toto Ltd   3,501,211 
 96,400      Toyo Seikan Kaisha Ltd   1,878,094 
 51,400      Toyo Suisan Kaisha Ltd   2,282,835 
 38,700      Toyoda Gosei Co Ltd   840,680 
 94,500      Toyota Industries Corp   4,241,671 
 1,550,400   *  Toyota Motor Corp   86,876,342 
 120,900      Toyota Tsusho Corp   2,669,234 
 64,400   *  Trend Micro, Inc   2,338,332 
 21,600      Tsuruha Holdings, Inc   2,456,200 
 235,300      Uni-Charm Corp   4,838,158 
 1,678   *  United Urban Investment Corp   3,136,977 
 125,000      USS Co Ltd   2,120,211 
 94,800      West Japan Railway Co   5,864,053 
 817,900      Yahoo! Japan Corp   3,605,598 
 51,400      Yakult Honsha Co Ltd   2,454,715 
 370,100      Yamada Denki Co Ltd   1,951,562 
 119,000   e  Yamaguchi Financial Group, Inc   1,175,206 
303

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 98,300      Yamaha Corp  $2,712,666 
 164,000      Yamaha Motor Co Ltd   2,761,144 
 207,800      Yamato Transport Co Ltd   5,113,515 
 77,000      Yamazaki Baking Co Ltd   2,115,396 
 150,600      Yaskawa Electric Corp   2,052,451 
 135,000      Yokogawa Electric Corp   1,745,269 
 66,100      Yokohama Rubber Co Ltd   887,735 
        TOTAL JAPAN   1,666,070,086 
               
JERSEY, C.I. - 0.1%        
 53,971      Randgold Resources Ltd   6,351,202 
        TOTAL JERSEY, C.I.   6,351,202 
               
JORDAN - 0.0%        
 83,577      Hikma Pharmaceuticals plc   2,910,206 
        TOTAL JORDAN   2,910,206 
               
LUXEMBOURG - 0.3%        
 1,068,447   *  ArcelorMittal   6,921,269 
 37,880      Millicom International Cellular S.A.   2,022,559 
 22,618      RTL Group   1,928,323 
 211,154      SES Global S.A.   4,627,060 
 272,542      Tenaris S.A.   3,654,171 
        TOTAL LUXEMBOURG   19,153,382 
               
MACAU - 0.0%        
 561,200      MGM China Holdings Ltd   815,949 
 905,200   e  Wynn Macau Ltd   1,475,774 
        TOTAL MACAU   2,291,723 
               
MEXICO - 0.0%        
 128,543      Fresnillo plc   3,289,400 
        TOTAL MEXICO   3,289,400 
               
NETHERLANDS - 4.0%        
 136,583   g  ABN AMRO Group NV (ADR)   2,539,940 
 1,047,173      Aegon NV   4,239,931 
 143,290      Akzo Nobel NV   9,262,678 
 216,606   *  Altice NV (Class A)   3,215,488 
 66,678   *  Altice NV (Class B)   986,623 
 213,713      ASML Holding NV   23,465,820 
 50,862      Boskalis Westminster   1,869,337 
 105,494      DSM NV   6,752,028 
 46,800      Gemalto NV   3,084,253 
 61,610      Heineken Holding NV   5,162,017 
 133,723   e  Heineken NV   12,620,168 
 2,247,296      ING Groep NV   25,124,780 
 742,424      Koninklijke Ahold Delhaize NV   17,724,774 
 539,688      Koninklijke Philips Electronics NV   14,353,954 
 40,650      Koninklijke Vopak NV   2,089,892 
 183,672      NN Group NV   4,954,150 
 170,694   *  NXP Semiconductors NV   14,353,658 
304

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 55,843   *,e  OCI NV  $852,834 
 68,263      Randstad Holdings NV   2,936,663 
 2,443,531      Royal Dutch Shell plc (A Shares)   63,092,463 
 2,174,648      Royal Dutch Shell plc (B Shares)   57,842,846 
 1,968,481      Royal KPN NV   6,474,525 
 173,771      Wolters Kluwer NV   7,311,179 
        TOTAL NETHERLANDS   290,310,001 
               
NEW ZEALAND - 0.2%        
 552,393      Auckland International Airport Ltd   2,945,742 
 422,954      Contact Energy Ltd   1,651,095 
 393,321      Fletcher Building Ltd   2,753,214 
 737,328   *  Meridian Energy Ltd   1,491,211 
 398,345      Mighty River Power Ltd   901,274 
 226,151      Ryman Healthcare Ltd   1,558,326 
 1,067,638      Telecom Corp of New Zealand Ltd   3,046,229 
        TOTAL NEW ZEALAND   14,347,091 
               
NORWAY - 0.6%        
 565,937      DNB NOR Holding ASA   6,249,742 
 113,346      Gjensidige Forsikring BA   1,915,039 
 780,296      Norsk Hydro ASA   3,345,758 
 465,802      Orkla ASA   4,333,236 
 231,473      PAN Fish ASA   3,947,794 
 44,049      Schibsted ASA   1,388,720 
 52,481      Schibsted ASA (B Shares)   1,548,308 
 646,856   *  Statoil ASA   10,283,363 
 434,121      Telenor ASA   7,267,859 
 103,079      Yara International ASA   3,360,505 
        TOTAL NORWAY   43,640,324 
               
PORTUGAL - 0.2%        
 1,342,399      Energias de Portugal S.A.   4,604,757 
 271,470      Galp Energia SGPS S.A.   3,718,593 
 147,162      Jeronimo Martins SGPS S.A.   2,464,805 
        TOTAL PORTUGAL   10,788,155 
               
SINGAPORE - 1.3%        
 1,287,108      Ascendas REIT   2,358,726 
 1,189,400      CapitaCommercial Trust   1,339,057 
 1,475,500      CapitaLand Ltd   3,503,333 
 1,412,130      CapitaMall Trust   2,262,688 
 242,300      City Developments Ltd   1,541,970 
 1,247,700      ComfortDelgro Corp Ltd   2,638,116 
 1,019,333      DBS Group Holdings Ltd   11,784,350 
 3,422,400      Genting Singapore plc   2,014,866 
 1,544,500      Global Logistic Properties   2,214,842 
 3,800,047      Golden Agri-Resources Ltd   1,023,657 
 56,109      Jardine Cycle & Carriage Ltd   1,648,468 
 831,500      Keppel Corp Ltd   3,290,262 
 1,814,591      Oversea-Chinese Banking Corp   11,704,996 
 568,860      SembCorp Industries Ltd   1,188,954 
 498,300   e  SembCorp Marine Ltd   531,707 
305

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 315,133      Singapore Airlines Ltd  $2,583,070 
 466,200      Singapore Exchange Ltd   2,632,241 
 936,400   e  Singapore Press Holdings Ltd   2,650,676 
 865,400      Singapore Technologies Engineering Ltd   2,133,191 
 4,622,703      Singapore Telecommunications Ltd   14,496,265 
 363,500      StarHub Ltd   1,064,642 
 1,464,100      Suntec Real Estate Investment Trust   1,832,284 
 749,758      United Overseas Bank Ltd   10,287,671 
 277,223      UOL Group Ltd   1,196,088 
 1,099,800      Wilmar International Ltd   2,551,615 
        TOTAL SINGAPORE   90,473,735 
               
SOUTH AFRICA - 0.1%        
 216,118      Al Noor Hospitals Group plc   3,068,343 
 350,974      Investec plc   2,089,087 
 213,501      Mondi plc   4,320,662 
        TOTAL SOUTH AFRICA   9,478,092 
               
SPAIN - 2.9%        
 373,583      Abertis Infraestructuras S.A. (Continuous)   5,876,930 
 113,252      ACS Actividades Construccion y Servicios S.A.   3,247,548 
 39,062   g  Aena S.A.   5,634,363 
 254,565   e  Amadeus IT Holding S.A.   11,952,008 
 3,777,148      Banco Bilbao Vizcaya Argentaria S.A.   22,050,794 
 3,102,693   e  Banco de Sabadell S.A.   4,242,857 
 1,973,925      Banco Popular Espanol S.A.   2,764,802 
 8,380,026   e  Banco Santander S.A.   35,575,607 
 2,640,893      Bankia S.A.   2,026,680 
 393,660      Bankinter S.A.   2,745,906 
 1,544,911      CaixaBank S.A.   3,879,246 
 631,506      Corp Mapfre S.A.   1,545,522 
 358,055      Distribuidora Internacional de Alimentacion S.A.   2,233,138 
 129,435      Enagas   3,946,068 
 184,218      Endesa S.A.   3,869,902 
 277,819      Ferrovial S.A.   5,750,389 
 199,688      Gas Natural SDG S.A.   4,130,488 
 172,207      Grifols S.A.   3,775,030 
 13,844   *,m  Iberdrola S.A.   95,123 
 3,158,083      Iberdrola S.A.   21,698,968 
 636,184      Industria De Diseno Textil S.A.   22,001,622 
 250,739      Red Electrica Corp S.A.   5,743,122 
 643,615      Repsol YPF S.A.   8,152,417 
 2,598,534      Telefonica S.A.   25,452,135 
 118,535      Zardoya Otis S.A.   1,163,405 
        TOTAL SPAIN   209,554,070 
               
SWEDEN - 2.7%        
 170,336      Alfa Laval AB   2,684,611 
 580,698      Assa Abloy AB   12,739,385 
 389,523      Atlas Copco AB (A Shares)   10,934,556 
 225,352      Atlas Copco AB (B Shares)   5,762,409 
 157,834      Boliden AB   3,473,942 
 138,385      Electrolux AB (Series B)   3,749,159 
306

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 1,768,374      Ericsson (LM) (B Shares)  $13,187,442 
 113,945      Getinge AB (B Shares)   2,309,556 
 551,315      Hennes & Mauritz AB (B Shares)   16,648,631 
 149,818      Hexagon AB (B Shares)   5,909,687 
 243,571      Husqvarna AB (B Shares)   2,090,686 
 47,518   e  ICA Gruppen AB   1,589,869 
 95,220      Industrivarden AB   1,602,054 
 134,347      Investment AB Kinnevik (B Shares)   3,426,311 
 264,801      Investor AB (B Shares)   9,120,246 
 110,140   *  Lundin Petroleum AB   1,825,858 
 1,763,142      Nordea Bank AB   15,709,006 
 614,771      Sandvik AB   6,587,114 
 181,741      Securitas AB (B Shares)   2,990,346 
 881,253      Skandinaviska Enskilda Banken AB (Class A)   7,726,889 
 194,260      Skanska AB (B Shares)   4,129,666 
 229,560      SKF AB (B Shares)   3,636,977 
 354,878      Svenska Cellulosa AB (B Shares)   10,550,053 
 868,426      Svenska Handelsbanken AB   10,441,109 
 525,762      Swedbank AB (A Shares)   11,038,183 
 113,951      Swedish Match AB   4,156,911 
 188,393      Tele2 AB   1,591,625 
 1,538,354      TeliaSonera AB   7,019,761 
 894,917      Volvo AB (B Shares)   9,535,950 
        TOTAL SWEDEN   192,167,992 
               
SWITZERLAND - 9.3%        
 1,139,013      ABB Ltd   24,195,007 
 59,531      Actelion Ltd   10,544,825 
 95,331      Adecco S.A.   5,232,334 
 51,402      Aryzta AG.   1,931,122 
 30,518      Baloise Holding AG.   3,434,991 
 1,282      Barry Callebaut AG.   1,675,563 
 302,477      Cie Financiere Richemont S.A.   18,388,174 
 104,682      Coca-Cola HBC AG.   2,164,235 
 1,106,705      Credit Suisse Group   12,726,797 
 26,311   *  Dufry Group   3,027,648 
 5,195      EMS-Chemie Holding AG.   2,842,581 
 2,227      Galenica AG.   2,870,273 
 21,778      Geberit AG.   8,398,859 
 5,341      Givaudan S.A.   10,969,032 
 7,103,213      Glencore Xstrata plc   17,531,573 
 263,733      Holcim Ltd   12,540,741 
 128,970      Julius Baer Group Ltd   5,288,288 
 31,333      Kuehne & Nagel International AG.   4,394,957 
 560      Lindt & Spruengli AG.   3,292,779 
 59      Lindt & Spruengli AG. (Registered)   4,168,412 
 30,502      Lonza Group AG.   5,744,146 
 1,850,774      Nestle S.A.   148,307,285 
 1,320,522      Novartis AG.   109,528,239 
 21,818      Pargesa Holding S.A.   1,519,358 
 10,070      Partners Group   4,605,666 
 30,445      Phonak Holding AG.   4,167,931 
 407,743      Roche Holding AG.   104,083,722 
307

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 25,217      Schindler Holding AG.  $4,835,010 
 12,050      Schindler Holding AG. (Registered)   2,326,854 
 3,161      SGS S.A.   6,992,899 
 1,240      Sika AG.   5,809,077 
 374,102      STMicroelectronics NV   2,735,577 
 17,741      Swatch Group AG.   4,645,372 
 28,453      Swatch Group AG. (Registered)   1,452,493 
 19,325      Swiss Life Holding   4,408,218 
 42,257      Swiss Prime Site AG.   3,880,993 
 193,068      Swiss Re Ltd   16,184,216 
 14,819      Swisscom AG.   7,290,193 
 53,921      Syngenta AG.   21,206,332 
 2,123,191      UBS AG.   29,187,742 
 146,843      Wolseley plc   8,187,726 
 87,213      Zurich Financial Services AG.   20,939,225 
        TOTAL SWITZERLAND   673,656,465 
               
UNITED KINGDOM - 17.1%        
 555,860      3i Group plc   4,540,171 
 542,054      Aberdeen Asset Management plc   2,283,072 
 122,023      Admiral Group plc   3,492,526 
 147,683      Aggreko plc   2,514,393 
 816,091      Anglo American plc (London)   8,937,955 
 817,366      ARM Holdings plc   18,195,677 
 290,034      Ashtead Group plc   4,590,456 
 208,523      Associated British Foods plc   7,422,810 
 733,768      AstraZeneca plc   49,124,429 
 582,130   g  Auto Trader Group plc   2,856,942 
 2,345,412      Aviva plc   12,077,785 
 143,634      Babcock International Group   1,842,176 
 1,833,423      BAE Systems plc   12,945,027 
 9,755,541      Barclays plc   19,891,155 
 583,767      Barratt Developments plc   3,380,302 
 75,733      Berkeley Group Holdings plc   2,686,308 
 10,730,828      BP plc   60,711,241 
 1,082,145      British American Tobacco plc   69,067,694 
 566,484      British Land Co plc   5,027,471 
 4,911,343      BT Group plc   26,832,797 
 194,519      Bunzl plc   6,086,051 
 258,552      Burberry Group plc   4,511,296 
 382,344      Capita Group plc   4,854,855 
 3,222,845      Centrica plc   10,279,386 
 594,101      CNH Industrial NV   4,242,727 
 1,277,720      Cobham plc   2,896,853 
 125,936   *  Coca-Cola European Partners plc   4,751,178 
 954,092      Compass Group plc   18,125,651 
 76,149      Croda International plc   3,348,575 
 50,735      DCC plc   4,527,600 
 1,460,462      Diageo plc   41,851,967 
 785,383      Direct Line Insurance Group plc   3,634,032 
 91,980      easyJet plc   1,265,177 
 524,686   e  Fiat DaimlerChrysler Automobiles NV   3,384,798 
 988,052      GKN plc   3,781,763 
308

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 2,826,985      GlaxoSmithKline plc  $63,135,108 
 931,466      Group 4 Securicor plc   2,295,084 
 443,310      Hammerson plc   3,272,450 
 149,493      Hargreaves Lansdown plc   2,569,345 
 11,427,294      HSBC Holdings plc   74,902,395 
 313,244      ICAP plc   1,839,878 
 164,277      IMI plc   2,330,793 
 556,692      Imperial Tobacco Group plc   29,335,972 
 265,924      Inmarsat plc   2,749,549 
 108,471      InterContinental Hotels Group plc   4,336,724 
 472,150      International Consolidated Airlines Group S.A.   2,546,269 
 93,661      Intertek Group plc   4,493,522 
 536,496      Intu Properties plc   2,127,386 
 2,113,780      ITV plc   5,480,885 
 771,551   e  J Sainsbury plc   2,289,614 
 112,262      Johnson Matthey plc   4,865,109 
 1,323,608      Kingfisher plc   5,877,714 
 457,769      Land Securities Group plc   6,626,866 
 3,451,853      Legal & General Group plc   9,390,307 
 37,294,555      Lloyds TSB Group plc   26,231,078 
 181,812      London Stock Exchange Group plc   6,690,219 
 948,922      Marks & Spencer Group plc   4,011,983 
 454,197      Meggitt plc   2,630,676 
 407,906   g  Merlin Entertainments plc   2,551,873 
 2,176,568      National Grid plc   31,209,423 
 568,582      New Carphone Warehouse plc   2,629,146 
 83,023      Next plc   5,519,789 
 2,868,287      Old Mutual plc   7,981,784 
 479,244      Pearson plc   5,599,172 
 179,451      Persimmon plc   4,006,703 
 149,829      Petrofac Ltd   1,481,452 
 85,326      Provident Financial plc   3,059,894 
 1,492,183      Prudential plc   26,304,888 
 368,421      Reckitt Benckiser Group plc   35,722,126 
 571,973      Reed Elsevier NV   10,306,604 
 643,733      Reed Elsevier plc   12,223,709 
 246,405      Rio Tinto Ltd   9,403,115 
 717,965      Rio Tinto plc   23,299,550 
 1,066,716      Rolls-Royce Group plc   11,161,689 
 2,022,144   *  Royal Bank of Scotland Group plc   5,146,821 
 523,473      Royal Mail plc   3,529,858 
 585,678      RSA Insurance Group plc   3,851,349 
 564,679      SABMiller plc   32,994,251 
 625,103      Sage Group plc   5,894,346 
 76,623      Schroders plc   2,655,645 
 584,037   e  Scottish & Southern Energy plc   11,723,427 
 444,528      Segro plc   2,604,654 
 134,789      Severn Trent plc   4,367,461 
 521,085      Shire Ltd   33,663,353 
 597,349      Sky plc   7,274,745 
 519,847      Smith & Nephew plc   8,550,989 
 229,071      Smiths Group plc   3,828,995 
 304,283      St. James’s Place plc   3,723,942 
309

TIAA-CREF FUNDS - International Equity Index Fund

 

SHARES       COMPANY  VALUE 
               
 1,902,800      Standard Chartered plc  $15,215,016 
 1,143,560      Standard Life plc   4,578,304 
 267,576      Tate & Lyle plc   2,560,637 
 1,900,939      Taylor Wimpey plc   3,889,876 
 4,725,964   *  Tesco plc   9,744,092 
 141,169      Travis Perkins plc   2,912,891 
 945,519      Unilever NV   43,800,553 
 744,541      Unilever plc   34,831,890 
 393,906      United Utilities Group plc   5,299,253 
 15,417,535      Vodafone Group plc   46,836,638 
 125,555      Weir Group plc   2,432,716 
 105,892      Whitbread plc   5,407,330 
 510,205      William Hill plc   2,158,160 
 1,289,811   e  WM Morrison Supermarkets plc   3,169,689 
 812,754   *,g  Worldpay Group plc   3,152,737 
 752,219      WPP plc   16,877,932 
        TOTAL UNITED KINGDOM   1,231,129,689 
               
UNITED STATES - 1.4%        
 110,113      Carnival plc   5,296,475 
 1,429,993   d  iShares MSCI EAFE Index Fund   82,968,194 
 101,865   *,e  Mobileye NV   4,880,352 
 129,016   *  Qiagen NV   3,386,781 
 8,700   *,e  Taro Pharmaceutical Industries Ltd   1,217,653 
        TOTAL UNITED STATES   97,749,455 
              
        TOTAL COMMON STOCKS   7,194,535,831 
        (Cost $6,930,593,917)     
              
RIGHTS / WARRANTS - 0.0%        
AUSTRALIA - 0.0%        
 989,098   m  BGP Holdings plc   0 
        TOTAL AUSTRALIA   0 
              
SPAIN - 0.0%        
 118,535      Zardoya Otis S.A.   47,708 
        TOTAL SPAIN   47,708 
              
        TOTAL RIGHTS / WARRANTS   47,708 
        (Cost $59,058)     
310

TIAA-CREF FUNDS - International Equity Index Fund

 

PRINCIPAL     ISSUER  RATE  MATURITY
DATE		  VALUE  
SHORT-TERM INVESTMENTS - 1.2%                    
TREASURY DEBT - 0.1%                    
$4,300,000  d  United States Treasury Bill   0.245%  08/25/16  $4,299,459 
       TOTAL TREASURY DEBT              4,299,459  
                     
SHARES      COMPANY                
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.1%                  
 81,153,581  c  TIAA-CREF Short Term Lending Portfolio of the State Street
Navigator Securities Lending Trust		     81,153,581 
       TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES     81,153,581  
                          
       TOTAL SHORT-TERM INVESTMENTS          85,453,040 
       (Cost $85,452,878)             
                     
       TOTAL INVESTMENTS - 100.9%              7,280,036,579  
       (Cost $7,016,105,853)             
       OTHER ASSETS & LIABILITIES, NET - (0.9)%              (62,914,046 )
       NET ASSETS - 100.0%          $7,217,122,533 
       
     
    Abbreviation(s):
    ADR    American Depositary Receipt
    REIT    Real Estate Investment Trust
     
*   Non-income producing
c   Investments made with cash collateral received from securities on loan.
d   All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e   All or a portion of these securities are out on loan. The aggregate value of securities on loan is $78,101,557.
g   Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 7/31/16, the aggregate value of these securities was $25,088,728 or 0.3% of net assets.
m   Indicates a security that has been deemed illiquid.
311

TIAA-CREF FUNDS - International Equity Index Fund

 

TIAA-CREF FUNDS
INTERNATIONAL EQUITY INDEX FUND
SUMMARY OF MARKET VALUES BY SECTOR (unaudited)
July 31, 2016
 
      % OF  
SECTOR  VALUE    NET ASSETS  
FINANCIALS  $1,696,595,121    23.5%
INDUSTRIALS   953,951,267    13.2 
CONSUMER STAPLES   914,020,359    12.7 
CONSUMER DISCRETIONARY   894,826,667    12.4 
HEALTH CARE   867,385,734    12.0 
MATERIALS   501,526,897    6.9 
INFORMATION TECHNOLOGY   398,278,042    5.5 
TELECOMMUNICATION SERVICES   350,993,102    4.9 
ENERGY   344,342,580    4.8 
UTILITIES   272,663,770    3.8 
SHORT - TERM INVESTMENTS   85,453,040    1.2 
OTHER ASSETS & LIABILITIES, NET   (62,914,046)   (0.9)
           
NET ASSETS  $7,217,122,533    100.0%
312

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

TIAA-CREF FUNDS
EMERGING MARKETS DEBT FUND
SCHEDULE OF INVESTMENTS (unaudited)
July 31, 2016
 
            MATURITY   
PRINCIPAL       ISSUER  RATE  DATE  VALUE  
                
BONDS - 96.6%                  
                  
CORPORATE BONDS - 41.0%                 
                    
ARGENTINA - 1.7%                   
$1,500,000   g  Arcor SAIC   6.000%   07/06/23   $1,567,170 
 1,200,000   g,i  YPF S.A.   31.354    07/07/20    1,305,000 
 1,200,000   g  YPF S.A.   8.500    03/23/21    1,287,000 
         TOTAL ARGENTINA                   4,159,170 
                         
AZERBAIJAN - 1.0%                  
 700,000      State Oil Co of the Azerbaijan Republic   4.750    03/13/23    658,936 
 1,700,000      State Oil Co of the Azerbaijan Republic   6.950    03/18/30    1,764,430 
         TOTAL AZERBAIJAN                 2,423,366 
                         
BRAZIL - 2.9%                  
 500,000   g,i  Caixa Economica Federal   7.250    07/23/24    454,375 
 1,050,000   g  GTL Trade Finance, Inc   5.893    04/29/24    985,687 
 1,200,000   g  Marfrig Holdings Europe BV   8.000    06/08/23    1,232,640 
 2,000,000   g  Odebrecht Finance Ltd   4.375    04/25/25    640,000 
 177,280   g  Odebrecht Offshore Drilling Finance Ltd   6.625    10/01/22    28,365 
 316,601   g  Odebrecht Offshore Drilling Finance Ltd   6.750    10/01/22    50,656 
BRL 2,305,000   g  Oi S.A.   9.750    09/15/16    120,852 
$1,100,000   g,q  Oi S.A.   5.750    02/10/22    231,000 
 625,000      Petrobras Global Finance BV   4.875    03/17/20    608,819 
 1,300,000      Petrobras Global Finance BV   8.375    05/23/21    1,374,425 
 1,125,000      Petrobras International Finance Co   5.750    01/20/20    1,122,863 
 1,100,000   g  Samarco Mineracao S.A.   5.375    09/26/24    426,250 
         TOTAL BRAZIL                7,275,932  
                         
CHILE - 1.4%                   
 1,100,000   g  Corp Nacional del Cobre de Chile-CODELCO   4.500    09/16/25    1,180,472 
 1,300,000   g  Empresa Electrica Angamos S.A.   4.875    05/25/29    1,331,111 
 1,000,000   g  ENTEL Chile S.A.   4.750    08/01/26    1,021,546 
         TOTAL CHILE                3,533,129  
                         
CHINA - 0.8%                   
 1,050,000   g  Golden Eagle Retail Group Ltd   4.625    05/21/23    934,500 
 1,100,000   g  Semiconductor Manufacturing International Corp   4.125    10/07/19    1,139,206 
         TOTAL CHINA               2,073,706  
                         
COLOMBIA - 1.8%                
 1,200,000   g  Banco de Bogota S.A.   6.250    05/12/26    1,266,000 
 1,100,000      Ecopetrol S.A.   5.375    06/26/26    1,085,920 
 1,800,000   g  GrupoSura Finance S.A.   5.500    04/29/26    1,939,500 
 300,000   g  Pacific Rubiales Energy Corp   5.375    01/26/19    49,500 
313

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

            MATURITY   
PRINCIPAL       ISSUER  RATE  DATE  VALUE  
                        
$1,100,000   g  Pacific Rubiales Energy Corp   5.625%   01/19/25   $176,000 
         TOTAL COLOMBIA                 4,516,920 
COSTA RICA - 0.8%                  
 1,800,000   g  Banco Nacional de Costa Rica   5.875    04/25/21    1,878,750 
         TOTAL COSTA RICA                1,878,750  
                         
CROATIA - 0.4%                  
 1,000,000   g  Hrvatska Elektroprivreda   5.875    10/23/22    1,070,224 
         TOTAL CROATIA                1,070,224  
                         
INDIA - 2.7%                   
 1,300,000   g  Adani Transmission Ltd   4.000    08/03/26    1,293,135 
 1,000,000   g  Bharti Airtel International Netherlands BV   5.125    03/11/23    1,091,648 
 500,000   g  Bharti Airtel Ltd   4.375    06/10/25    529,691 
 1,600,000   g,h  Export-Import Bank of India   3.375    08/05/26    1,605,432 
 1,100,000   g  ICICI Bank Ltd   4.000    03/18/26    1,133,503 
 1,000,000   g  Reliance Holdings USA   5.400    02/14/22    1,129,284 
         TOTAL INDIA                6,782,693  
                         
INDONESIA - 3.8%                  
 2,200,000   g  Golden Legacy Pte Ltd   8.250    06/07/21    2,329,241 
 2,100,000   g  Indo Energy Finance II BV   6.375    01/24/23    1,368,853 
 1,000,000   g  Pelabuhan Indonesia II PT   4.250    05/05/25    1,013,750 
 1,130,000   g  Pertamina Persero PT   4.300    05/20/23    1,161,782 
 1,000,000   g  Pertamina Persero PT   6.500    05/27/41    1,141,884 
 1,075,000   g  Perusahaan Listrik Negara PT   5.500    11/22/21    1,186,198 
 1,200,000   g  Perusahaan Listrik Negara PT   5.250    10/24/42    1,208,124 
         TOTAL INDONESIA                9,409,832  
                         
JAMAICA - 0.5%                  
 1,400,000   g  Digicel Group Ltd   7.125    04/01/22    1,154,580 
         TOTAL JAMAICA                1,154,580  
                         
KAZAKHSTAN - 1.3%                  
 1,700,000   g  Kazakhstan Temir Zholy Finance BV   6.950    07/10/42    1,780,750 
 1,425,000   g  Tengizchevroil Finance Co International Ltd   4.000    08/15/26    1,420,523 
         TOTAL KAZAKHSTAN                3,201,273  
                         
LUXEMBOURG - 0.5%                  
 1,150,000   g  Millicom International Cellular S.A.   6.000    03/15/25    1,186,311 
         TOTAL LUXEMBOURG                1,186,311  
                         
MALAYSIA - 0.4%               
 1,000,000      1MDB Global Investments Ltd   4.400    03/09/23    861,461 
         TOTAL MALAYSIA                861,461  
                         
MEXICO - 6.4%                  
MXN  25,450,000      America Movil SAB de C.V.   6.450    12/05/22    1,303,719 
$1,000,000   g  Banco Nacional de Comercio Exterior SNC   4.375    10/14/25    1,060,000 
314

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

            MATURITY   
PRINCIPAL       ISSUER  RATE  DATE  VALUE  
                
$1,150,000   g  BBVA Bancomer S.A.   6.750%   09/30/22   $1,310,425 
 1,300,000   g,i  BBVA Bancomer S.A.   5.350    11/12/29    1,326,000 
 1,800,000   g  Cemex SAB de C.V.   7.750    04/16/26    1,998,000 
 1,200,000   g  Comision Federal de Electricidad   4.875    01/15/24    1,284,000 
 975,000      Grupo Televisa SAB   6.125    01/31/46    1,133,886 
 750,000      Pemex Project Funding Master Trust   6.625    06/15/35    775,463 
 1,150,000      Petroleos Mexicanos   3.500    01/30/23    1,089,625 
 1,200,000   g  Petroleos Mexicanos   6.875    08/04/26    1,347,000 
 650,000   g  Poinsettia Finance Ltd   6.625    06/17/31    662,510 
 1,200,000   g  Sixsigma Networks Mexico S.A. de C.V.   8.250    11/07/21    1,200,000 
 1,200,000   g  Trust F/1401   5.250    01/30/26    1,261,500 
         TOTAL MEXICO                 15,752,128 
                         
MOROCCO - 1.0%                   
 1,100,000   g  OCP S.A.   4.500    10/22/25    1,106,182 
 1,200,000   g  OCP S.A.   6.875    04/25/44    1,331,806 
         TOTAL MOROCCO                 2,437,988 
                         
PANAMA - 0.5%                   
 1,300,000   g  Aeropuerto Internacional de Tocumen S.A.   5.625    05/18/36    1,342,250 
         TOTAL PANAMA                1,342,250  
                         
PERU - 2.2%                   
 1,250,000   g  Banco de Credito del Peru   4.250    04/01/23    1,347,000 
 1,000,000   g  Corp Lindley S.A.   4.625    04/12/23    1,037,500 
 1,300,000   g  Kallpa Generacion S.A.   4.875    05/24/26    1,365,000 
 1,750,000   g  Union Andina de Cementos SAA   5.875    10/30/21    1,824,375 
         TOTAL PERU                 5,573,875  
                         
RUSSIA - 2.2%                   
 1,800,000   g  GTH Finance BV   7.250    04/26/23    1,890,000 
 1,000,000   g  LUKOIL International Finance BV   4.563    04/24/23    1,012,500 
 1,250,000   g  Novolipetsk Steel via Steel Funding Ltd   4.500    06/15/23    1,235,937 
 1,100,000   g  Sberbank of Russia Via SB Capital S.A.   6.125    02/07/22    1,198,890 
         TOTAL RUSSIA                 5,337,327 
                         
SOUTH AFRICA - 2.3%                
 1,200,000   g  Eskom Holdings SOC Ltd   5.750    01/26/21    1,191,240 
 1,100,000   g  Eskom Holdings SOC Ltd   7.125    02/11/25    1,122,176 
 1,150,000   g  Gold Fields Orogen Holding BVI Ltd   4.875    10/07/20    1,161,500 
 2,300,000   g  Transnet SOC Ltd   4.000    07/26/22    2,242,776 
         TOTAL SOUTH AFRICA                 5,717,692 
                         
SRI LANKA - 0.7%                   
 1,800,000   g  National Savings Bank   5.150    09/10/19    1,801,044 
         TOTAL SRI LANKA                 1,801,044 
                         
SUPRANATIONAL - 0.5%                  
IDR  18,100,000,000      European Investment Bank   4.950    03/01/19    1,294,768 
         TOTAL SUPRANATIONAL                 1,294,768 
315

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

            MATURITY   
PRINCIPAL       ISSUER  RATE  DATE  VALUE  
                
TRINIDAD AND TOBAGO - 0.2%                 
$600,000   g  Petroleum Co of Trinidad & Tobago Ltd   6.000%   05/08/22   $585,000 
         TOTAL TRINIDAD AND TOBAGO                 585,000 
                         
TURKEY - 3.6%                   
 1,500,000   g  Akbank TAS   5.125    03/31/25    1,451,625 
 1,200,000   g  Anadolu Efes Biracilik Ve Malt Sanayii AS.   3.375    11/01/22    1,079,316 
 1,200,000   g  Arcelik AS.   5.000    04/03/23    1,167,000 
 1,300,000   g  KOC Holding AS.   5.250    03/15/23    1,322,750 
 1,200,000   g  Turk Telekomunikasyon AS.   4.875    06/19/24    1,185,264 
 1,300,000   g  Turkiye Halk Bankasi AS.   5.000    07/13/21    1,251,380 
 1,400,000   g  Turkiye Is Bankasi   5.375    10/06/21    1,380,750 
         TOTAL TURKEY                 8,838,085 
                         
UKRAINE - 0.4%                   
 1,100,000   g  MHP S.A.   8.250    04/02/20    1,039,500 
         TOTAL UKRAINE                  1,039,500 
                         
UNITED STATES - 0.5%                  
 1,200,000      Plains Exploration & Production Co   6.875    02/15/23    1,161,000 
         TOTAL UNITED STATES                1,161,000 
                         
VENEZUELA - 0.5%                   
 3,175,000      Petroleos de Venezuela S.A.   5.375    04/12/27    1,159,700 
         TOTAL VENEZUELA                 1,159,700 
                         
        TOTAL CORPORATE BONDS             101,567,704 
        (Cost $102,656,122)               
                        
GOVERNMENT BONDS -  55.6%                 
                   
ANGOLA - 1.2%                  
 3,225,000   g  Republic of Angola   9.500    11/12/25    3,072,457 
         TOTAL ANGOLA                 3,072,457 
                         
ARGENTINA - 3.0%                   
 2,725,000   g  Argentine Republic Government International Bond   6.875    04/22/21    2,932,100 
 1,000,000   g  Provincia de Buenos Aires   5.750    06/15/19    1,025,000 
 1,200,000      Provincia de Buenos Aires   9.125    03/16/24    1,323,000 
 2,000,000   g  Provincia de Mendoza Argentina   8.375    05/19/24    2,070,000 
         TOTAL ARGENTINA                 7,350,100 
                         
AZERBAIJAN - 0.9%                  
 1,950,000   g  Southern Gas Corridor CJSC   6.875    03/24/26    2,137,200 
         TOTAL AZERBAIJAN                 2,137,200 
                         
BRAZIL - 3.6%                   
 768,501   g  Brazil Loan Trust   5.477    07/24/23    716,627 
 1,500,000   g  Brazil Minas SPE via State of Minas Gerais   5.333    02/15/28    1,413,750 
BRL 7,150,000      Brazil Notas do Tesouro Nacional Serie F   10.000    01/01/21    2,069,989 
316

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

            MATURITY   
PRINCIPAL       ISSUER  RATE  DATE  VALUE  
                
$2,760,000      Brazilian Government International Bond   4.250%   01/07/25   $2,728,260 
 2,300,000      Brazilian Government International Bond   5.000    01/27/45    2,102,200 
         TOTAL BRAZIL                 9,030,826 
                         
COLOMBIA - 1.0%                   
 2,050,000      Colombia Government International Bond   6.125    01/18/41    2,352,375 
         TOTAL COLOMBIA                2,352,375 
                         
COSTA RICA - 1.1%                  
 2,500,000   g  Costa Rica Government International Bond   7.158    03/12/45    2,668,750 
         TOTAL COSTA RICA                 2,668,750 
                         
COTE D’IVOIRE - 0.4%                  
 940,500   g  Ivory Coast Government International Bond (Step Bond)   5.750    12/31/32    898,366 
         TOTAL COTE D’IVOIRE                 898,366 
                         
CROATIA - 1.2%                  
 750,000   g  Croatia Government International Bond   6.750    11/05/19    821,603 
 1,915,000   g  Croatia Government International Bond   6.375    03/24/21    2,110,330 
         TOTAL CROATIA                 2,931,933 
                         
DOMINICAN REPUBLIC - 2.0%                  
DOP 15,000,000   g  Dominican Republic Central Bank Notes   10.000    02/24/17    327,114 
 65,000,000   g  Dominican Republic International Bond   16.000    02/10/17    1,459,600 
$1,250,000   g  Dominican Republic International Bond   6.875    01/29/26    1,403,125 
 1,560,000   g  Dominican Republic International Bond   7.450    04/30/44    1,778,400 
         TOTAL DOMINICAN REPUBLIC                 4,968,239 
                         
ECUADOR - 0.9%                  
 2,200,000   g  Ecuador Government International Bond   10.500    03/24/20    2,203,300 
         TOTAL ECUADOR                 2,203,300 
                         
EGYPT - 0.7%                  
 1,975,000   g  Egypt Government International Bond   5.875    06/11/25    1,837,145 
         TOTAL EGYPT                 1,837,145 
                         
EL SALVADOR - 0.8%                  
 2,000,000   g  El Salvador Government International Bond   7.650    06/15/35    2,080,000 
         TOTAL EL SALVADOR                 2,080,000 
                         
GHANA - 1.1%                  
GHS  2,965,000   g,i  Citigroup Global Markets Holdings, Inc   0.000    06/28/21    757,018 
$2,200,000   g  Republic of Ghana   8.125    01/18/26    1,904,364 
         TOTAL GHANA                2,661,382 
                         
GREECE - 0.4%                  
EUR  958,000   g  Hellenic Republic Government International Bond   4.750    04/17/19    963,619 
         TOTAL GREECE                963,619 
317

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

PRINCIPAL       ISSUER  RATE  MATURITY
DATE		  VALUE  
                   
GUATEMALA - 1.3%                  
$1,775,000   g  Guatemala Government International Bond   4.500%   05/03/26   $1,872,625 
 1,325,000   g  Guatemala Government International Bond   4.875    02/13/28    1,450,875 
         TOTAL GUATEMALA                3,323,500 
                         
HUNGARY - 1.4%                  
 3,000,000      Hungary Government International Bond   5.750    11/22/23    3,452,250 
         TOTAL HUNGARY               3,452,250  
                         
INDONESIA - 2.2%                  
 2,355,000   g  Indonesia Government International Bond    3.375   04/15/23   2,400,654 
 1,000,000   g  Indonesia Government International Bond   5.950    01/08/46    1,247,224 
IDR 1,300,000,000      Indonesia Treasury Bond   8.375    09/15/26    109,669 
$1,600,000   g  Republic of Indonesia   5.250    01/17/42    1,815,195 
         TOTAL INDONESIA                5,572,742 
                         
JAMAICA - 1.2%                  
 1,000,000      Jamaica Government International Bond   6.750    04/28/28    1,092,500 
 1,675,000      Jamaica Government International Bond   7.875    07/28/45    1,896,937 
         TOTAL JAMAICA                2,989,437 
                         
KAZAKHSTAN - 0.6%                  
 1,250,000   g  Kazakhstan Government International Bond   6.500    07/21/45    1,475,000 
         TOTAL KAZAKHSTAN                1,475,000 
                         
KENYA - 0.6%                  
 1,500,000   g  Kenya Government International Bond   6.875    06/24/24    1,422,750 
         TOTAL KENYA                1,422,750 
MALAYSIA - 0.5%                  
MYR 4,450,000      Malaysia Government International Bond   3.955    09/15/25    1,117,523 
         TOTAL MALAYSIA                1,117,523 
                         
MEXICO - 0.7%                  
MXN  32,540,000      Mexican Bonos   6.500    06/09/22    1,802,190 
         TOTAL MEXICO                1,802,190 
                         
MOROCCO - 0.8%                  
$1,800,000   g  Morocco Government International Bond   5.500    12/11/42    2,056,500 
         TOTAL MOROCCO                2,056,500 
                         
NAMIBIA - 0.9%                  
 2,225,000   g  Namibia Government International Bonds   5.250    10/29/25    2,322,789 
         TOTAL NAMIBIA                2,322,789 
NIGERIA - 0.3%                  
 750,000   g  Nigeria Government International Bond   6.375    07/12/23    730,688 
         TOTAL NIGERIA                730,688 
PAKISTAN - 0.5%                  
 1,100,000   g  Pakistan Government International Bond   7.250    04/15/19    1,176,417 
       TOTAL PAKISTAN       1,176,417  
318

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

           MATURITY   
PRINCIPAL       ISSUER  RATE  DATE  VALUE  
              
PANAMA - 1.5%          
$1,800,000      Panama Government International Bond   3.875%   03/17/28   $1,935,000 
 1,400,000      Panama Government International Bond   6.700    01/26/36    1,895,250 
         TOTAL PANAMA                3,830,250 
                         
PARAGUAY - 1.6%                  
 725,000   g  Paraguay Government International Bond   5.000    04/15/26    775,750 
 2,750,000   g  Republic of Paraguay   6.100    08/11/44    3,073,125 
         TOTAL PARAGUAY                3,848,875 
                         
PERU - 3.0%                  
 2,175,000      Peruvian Government International Bond   4.125    08/25/27    2,414,250 
PEN 5,425,000   g  Peruvian Government International Bond   6.950    08/12/31    1,766,947 
$2,500,000   l  Peruvian Government International Bond   5.625    11/18/50    3,168,750 
         TOTAL PERU                 7,349,947 
                         
PHILIPPINES - 1.2%                  
PHP 72,000,000      Philippine Government International Bond   6.250    01/14/36    1,781,900 
$1,000,000      Philippine Government International Bond   3.700    03/01/41    1,149,547 
         TOTAL PHILIPPINES                 2,931,447 
                         
RUSSIA - 2.7%                  
RUB 142,500,000      Russian Federal Bond - OFZ   7.000    08/16/23    2,004,480 
$2,770,000   g  Russian Foreign Bond - Eurobond   4.875    09/16/23    2,999,744 
 1,600,000   g  Russian Foreign Bond - Eurobond   5.625    04/04/42    1,756,000 
         TOTAL RUSSIA                6,760,224 
                         
SERBIA - 1.4%                  
 3,225,000   g,p  Republic of Serbia   4.875    02/25/20    3,348,879 
         TOTAL SERBIA                 3,348,879 
                         
SOUTH AFRICA - 2.0%                  
ZAR 16,000,000      South Africa Government International Bond   8.000    12/21/18    1,158,489 
$1,900,000      South Africa Government International Bond   5.875    09/16/25    2,155,930 
 950,000      South Africa Government International Bond   4.875    04/14/26    1,003,200 
 615,000      South Africa Government International Bond   6.250    03/08/41    735,282 
         TOTAL SOUTH AFRICA                5,052,901 
                         
SRI LANKA - 1.3%                  
 1,850,000   g  Sri Lanka Government International Bond   6.850    11/03/25    1,948,102 
 1,250,000   g  Sri Lanka Government International Bond   6.825    07/18/26    1,302,068 
         TOTAL SRI LANKA                3,250,170 
                         
TRINIDAD AND TOBAGO - 0.7%                  
 1,725,000   g  Trinidad & Tobago Government International Bond   4.500    08/04/26    1,756,060 
         TOTAL TRINIDAD AND TOBAGO                1,756,060 
319

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

            MATURITY   
PRINCIPAL       ISSUER  RATE  DATE  VALUE  
                
TUNISIA - 0.7%                  
$1,725,000   g  Banque Centrale de Tunisie S.A.   5.750%   01/30/25   $1,634,438 
         TOTAL TUNISIA                1,634,438 
                         
TURKEY - 3.3%                  
 800,000      Republic of Turkey   6.000    01/14/41    853,352 
TRY 3,117,500      Turkey Government International Bond   8.200    11/16/16    1,044,617 
$525,000      Turkey Government International Bond   7.500    11/07/19    586,042 
 1,360,000      Turkey Government International Bond   5.625    03/30/21    1,446,020 
 1,200,000      Turkey Government International Bond   5.125    03/25/22    1,249,368 
 710,000      Turkey Government International Bond   8.000    02/14/34    922,403 
 1,750,000      Turkey Government International Bond   6.625    02/17/45    2,023,875 
         TOTAL TURKEY                8,125,677 
                         
UKRAINE - 2.1%                  
 2,325,000   g  Ukraine Government International Bond   7.750    09/01/19    2,308,028 
 1,075,000   g  Ukraine Government International Bond   7.750    09/01/20    1,059,090 
 1,850,000   g  Ukraine Government International Bond   7.750    09/01/27    1,780,995 
 520,000   g,i,j  Ukraine Government International Bond   0.000    05/31/40    175,604 
         TOTAL UKRAINE                5,323,717 
                         
URUGUAY - 2.0%                  
 1,325,000      Uruguay Government International Bond   4.375    10/27/27    1,406,156 
 3,450,000      Uruguay Government International Bond   5.100    06/18/50    3,493,125 
         TOTAL URUGUAY                4,899,281 
                         
VENEZUELA - 1.2%                  
 4,030,000      Venezuela Government International Bond   7.750    10/13/19    1,929,362 
 1,400,000      Venezuela Government International Bond   11.750    10/21/26    677,250 
 900,000      Venezuela Government International Bond   9.250    05/07/28    398,250 
         TOTAL VENEZUELA                3,004,862 
                         
VIETNAM - 0.6%                  
 1,325,000   g  Vietnam Government International Bond   4.800    11/19/24    1,415,186 
         TOTAL VIETNAM                1,415,186 
                         
ZAMBIA - 1.0%                  
 1,850,000   g  Republic of Zambia   5.375    09/20/22    1,462,425 
 1,250,000   g  Zambia Government International Bond   8.970    07/30/27    1,096,875 
         TOTAL ZAMBIA                2,559,300 
                         
        TOTAL GOVERNMENT BONDS             137,688,692 
        (Cost $132,895,679)               
                        
        TOTAL BONDS             239,256,396 
        (Cost $235,551,801)               
                        
320

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

            MATURITY   
PRINCIPAL       ISSUER  RATE  DATE  VALUE  
                   
SHORT-TERM INVESTMENTS - 0.9%                  
UNITED STATES - 0.9%                  
$2,250,000      Federal Home Loan Bank (FHLB)   0.150%   08/01/16   $2,250,000 
           TOTAL UNITED STATES             2,250,000 
                                                
          TOTAL SHORT-TERM INVESTMENTS             2,250,000 
          (Cost $2,250,000)               
                          
          TOTAL INVESTMENTS - 97.5%             241,506,396 
          (Cost $237,801,801)               
          OTHER ASSETS & LIABILITIES, NET - 2.5%             6,213,936 
          NET ASSETS - 100.0%            $247,720,332 
                                              
       
    Abbreviation(s):
                                           BRL   Brazilian  Real
    DOP   Dominican Peso
    EUR   Euro
    GHS   Ghana Cedi
    IDR   Indonesia Rupiah
    MXN   Mexico Peso
    MYR   Malaysia Ringgit
    PEN   Peru Sol
    PHP   Philippine Peso
    RUB   Russian Ruble
    TRY   Turkish Lira
    ZAR   South African Rand

 

g   Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 7/31/16, the aggregate value of these securities was $168,382,590 or 68.0% of net assets.
h   Delayed delivery
i   Floating or variable rate security. Coupon rate reflects the rate at period end.
j   Zero coupon
l   All or a portion of these securities have been segregated by the custodian to cover collateral requirements swap agreements.
p   All or a portion of these securities have been segregated to cover requirements on open forward foreign currency contracts.
q   In default
321

TIAA-CREF FUNDS - Emerging Markets Debt Fund

 

TIAA-CREF FUNDS

EMERGING MARKETS DEBT FUND

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

July 31, 2016

 

SECTOR  VALUE   % OF
NET ASSETS		 
GOVERNMENT  $139,563,903    56.3%
FINANCIALS   26,531,424    10.7 
UTILITIES   20,689,955    8.4 
ENERGY   17,929,118    7.2 
MATERIALS   8,852,772    3.6 
INDUSTRIALS   7,901,065    3.2 
TELECOMMUNICATION SERVICES   6,638,300    2.7 
CONSUMER STAPLES   4,388,956    1.8 
INFORMATION TECHNOLOGY   3,525,517    1.4 
CONSUMER DISCRETIONARY   3,235,386    1.3 
SHORT - TERM INVESTMENTS   2,250,000    0.9 
OTHER ASSETS & LIABILITIES, NET   6,213,936    2.5 
           
NET ASSETS  $247,720,332    100.0%
322

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

Note 1—organization and significant accounting policies

 

TIAA-CREF Funds (the “Trust”) is a Delaware statutory trust that was organized on April 15, 1999 and is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company. The following TIAA-CREF Funds are included in this report: Enhanced Large-Cap Growth Index Fund, Enhanced Large-Cap Value Index Fund, Growth & Income Fund, Large-Cap Growth Fund, Large-Cap Value Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, Small-Cap Equity Fund, Social Choice Equity Fund, Social Choice Low Carbon Equity Fund, Emerging Markets Equity Fund, Enhanced International Equity Index Fund, Global Natural Resources Fund, International Equity Fund, International Opportunities Fund, Social Choice International Equity Fund, Equity Index Fund, Large-Cap Growth Index Fund, Large-Cap Value Index Fund, S&P 500 Index Fund, Small-Cap Blend Index Fund, Emerging Markets Equity Index Fund, International Equity Index Fund and the Emerging Markets Debt Fund (collectively, the “Funds” or individually, the “Fund”).

 

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 five share classes, although any one Fund may not necessarily offer all five classes. The Funds may offer Institutional, Advisor, 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. On December 4, 2015, certain Funds made an additional share class (Advisor) available for sale pursuant to an amendment to the Trust’s registration statement filed with the Commission.

 

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 Funds are investment companies and follow the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services—Investment Companies. 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.

 

Foreign currency transactions and translation: Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day using exchange rates obtained from an independent third party. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.

 

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 their estimated 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.

323

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

Certain portfolio investments that are measured at fair value using the net asset value per share practical expedient are not categorized within the fair value hierarchy. As of July 31, 2016, no investments were valued utilizing the practical expedient.

 

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

 

Exchange-traded equity securities, common and preferred stock: Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign equity securities are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. For events affecting the value of foreign securities between the time when the exchange on which they are traded closes and the time when the Funds’ net assets are calculated, such securities will be valued at fair value in accordance with procedures adopted by the Board. Foreign securities are generally categorized in Level 2 of the fair value hierarchy.

 

Debt securities: Debt securities, including equity-linked notes, will generally be valued using prices provided by a pricing service that may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, quality and type). Debt securities are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, yields or any other key inputs are unobservable, they are categorized in Level 3 of the hierarchy.

 

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.

 

Futures contracts: Stock and bond index futures contracts, which are traded on commodity exchanges, are valued at the last sale price as of the close of such commodity exchanges and are categorized in Level 1 of the fair value hierarchy.

 

Options: Purchased and written options listed or traded on a national market or exchange are valued at the last sale price as of the close of such exchange or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy.

 

Forward foreign currency contracts: Forward foreign currency contracts are valued using the prevailing forward exchange rate and are categorized in Level 2 of the fair value hierarchy.

 

Credit default swap contracts: Credit default swap contracts are marked-to-market daily based upon a price supplied by a pricing service. Credit default swaps are generally categorized as Level 2 in the fair value hierarchy.

 

Total return swap contracts: Total return swap contracts are marked-to-market daily based upon a price supplied by a pricing service. Total return swaps are generally categorized as Level 2 in the fair value hierarchy.

 

Any portfolio security for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the Board. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized as Level 3.

 

Transfers between levels are recognized at the end of the reporting period. For the period ended July 31, 2016, there were no material transfers between levels by the Funds.

 

As of July 31, 2016, 100% of the value of investments in the Social Choice Low Carbon Equity Fund was valued based on Level 1 inputs.

 

As of July 31, 2016, 100% of the value of investments in the Emerging Markets Debt Fund was valued based on Level 2 inputs.

324

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

The following table summarizes the market value of the Funds’ investments as of July 31, 2016, based on the inputs used to value them:

 

Fund  Level 1   Level 2   Level 3   Total 
Enhanced Large-Cap Growth Index                    
Equity investments*  $2,184,111,582   $-   $-   $2,184,111,582 
Short-term investments   51,150,064    18,650,000    -    69,800,064 
Total  $2,235,261,646   $18,650,000   $-   $2,253,911,646 
Enhanced Large-Cap Value Index                    
Equity investments:                    
Consumer discretionary  $115,461,434   $738,454   $-   $116,199,888 
All other equity investments *   2,031,850,908    -    -    2,031,850,908 
Short-term investments   51,803,514    6,950,000    -    58,753,514 
Written options**   (237,717)   -    -    (237,717)
Total  $2,198,878,139   $7,688,454   $-   $2,206,566,593 
Growth & Income                    
Equity investments:                    
Consumer discretionary  $687,293,627   $52,126,850   $-   $739,420,477 
Consumer staples   472,048,935    30,444,200    -    502,493,135 
Financials   509,708,427    18,168,246    -    527,876,673 
Health care   758,104,883    61,574,796    -    819,679,679 
Information technology   1,171,209,951    17,271,875    -    1,188,481,826 
Materials   129,480,665    11,568,484    -    141,049,149 
Utilities   123,134,304    10,267,701    -    133,402,005 
All other equity investments*   933,819,928    -    -    933,819,928 
Short-term investments   89,535,541    6,550,000    -    96,085,541 
Purchased options**   908,300    -    -    908,300 
Written options**   (1,769,750)   -    -    (1,769,750)
Total  $4,873,474,811   $207,972,152   $-   $5,081,446,963 
Large-Cap Growth                    
Equity investments:                    
Information technology  $1,396,835,866   $3,121,089   $-   $1,399,956,955 
All other Equity Investments*   2,292,866,577    -    -    2,292,866,577 
Short-term investments   2,572,919    48,799,234    -    51,372,153 
Total  $3,692,275,362   $51,920,323   $-   $3,744,195,685 
Large-Cap Value                    
Equity investments:                    
Consumer discretionary  $384,097,340   $52,401,210   $-   $436,498,550 
Financials   1,355,159,167    8,252,776    -    1,363,411,943 
Industrials   516,172,916    -    7,267    516,180,183 
Information technology   665,864,652    11,016,524    -    676,881,176 
Materials   272,700,425    399,344    -    273,099,769 
All other equity investments*   2,570,716,199    -    -    2,570,716,199 
Short-term investments   67,726,270    11,800,000    -    79,526,270 
Total  $5,832,436,969   $83,869,854   $7,267   $5,916,314,090 
Mid-Cap Growth                    
Equity investments*  $1,611,637,576   $-   $-   $1,611,637,576 
Short-term investments   73,456,602    16,350,000    -    89,806,602 
Purchased options**   52,500    -    -    52,500 
Written options**   (1,116,000)   -    -    (1,116,000)
Total  $1,684,030,678   $16,350,000   $-   $1,700,380,678 
325

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

Fund  Level 1   Level 2   Level 3   Total 
Mid-Cap Value                    
Equity investments:                    
Consumer discretionary  $470,138,879   $10,324,153   $-   $480,463,032 
Financials   1,507,464,022    14,549,548    -    1,522,013,570 
Health care   240,572,752    41,891,138    -    282,463,890 
Information technology   517,660,646    10,385,094    -    528,045,740 
All other equity investments*   2,496,260,526    -    -    2,496,260,526 
Short-term investments   157,090,788    74,546,735    -    231,637,523 
Total  $5,389,187,613   $151,696,668   $-   $5,540,884,281 
Small-Cap Equity                    
Equity investments*  $3,090,494,888   $-   $-   $3,090,494,888 
Short-term investments   157,678,811    35,592,333    -    193,271,144 
Futures contracts**   799,534    -    -    799,534 
Total  $3,248,973,233   $35,592,333   $-   $3,284,565,566 
Social Choice Equity                    
Equity investments*  $2,775,245,698   $-   $-   $2,775,245,698 
Short-term investments   52,993,660    8,549,149    -    61,542,809 
Total  $2,828,239,358   $8,549,149   $-   $2,836,788,507 
Emerging Markets Equity                    
Equity investments:                    
Africa/Middle East  $-   $37,639,929   $-   $37,639,929 
Asia   53,198,083    671,786,421    666,688    725,651,192 
Europe   7,914,737    39,742,434    -    47,657,171 
Latin America   -    156,322,223    -    156,322,223 
All other equity investments*   26,518,161    86,010,891    -    112,529,052 
Short-term investments   29,219,827    -    -    29,219,827 
Total  $116,850,808   $991,501,898   $666,688   $1,109,019,394  
Enhanced International Equity Index                 
Equity investments:                    
Asia  $283,388   $369,621,930   $-   $369,905,318 
Australasia   -    105,854,796    -    105,854,796 
Europe   26,083,398    787,548,456    -    813,631,854 
All other equity investments *   8,206,595    87,631,213    -    95,837,808 
Short-term investments   28,244,224    9,500,000    -    37,744,224 
Total  $62,817,605   $1,360,156,395   $-   $1,422,974,000 
Global Natural Resources                    
Equity investments:                    
Africa/Middle East  $-   $11,550,450   $-   $11,550,450 
Australasia   -    24,030,018    -    24,030,018 
Europe   -    49,041,804    -    49,041,804 
Latin America   -    5,318,995    -    5,318,995 
North America   124,073,883    40,488,730    -    164,562,613 
All other equity investments *   4,977,806    42,550,802    -    47,528,608 
Short-term investments   4,680,957    -    -    4,680,957 
Total  $133,732,646   $172,980,799   $-   $306,713,445 

326

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

Fund  Level 1   Level 2   Level 3   Total 
International Equity                    
Equity investments:                    
Asia  $-   $1,200,428,208   $-   $1,200,428,208 
Europe   -    2,968,820,114    -    2,968,820,114 
All other equity investments *   20,739,967    162,277,394    -    183,017,361 
Short-term investments   104,211,217    10,500,000    -    114,711,217 
Total  $124,951,184   $4,342,025,716   $-   $4,466,976,900 
International Opportunities                    
Equity investments:                    
Asia  $-   $361,055,109   $-   $361,055,109 
Australasia   -    29,190,519    -    29,190,519 
Europe   -    604,369,795    -    604,369,795 
North America   31,951,669    106,771,773    -    138,723,442 
All other equity investments *   -    158,176,932    19,953    158,196,885 
Short-term investments   72,918,041    30,624,781    -    103,542,822 
Total  $104,869,710   $1,290,188,909   $19,953   $1,395,078,572 
Social Choice International Equity                    
Equity investments:                    
Asia  $-   $5,943,924   $-   $5,943,924 
Australasia   -    1,712,602    -    1,712,602 
Europe   222,882    12,186,384    -    12,409,266 
All other equity investments *   -    2,348,500    -    2,348,500 
Total  $222,882   $22,191,410   $-   $22,414,292 
Equity Index                    
Equity investments:                    
Financials  $1,972,788,629   $-   $42,403   $1,972,831,032 
Health care   1,609,840,462    -    4,028    1,609,844,490 
Industrials   1,170,133,755    -    71,574    1,170,205,329 
Telecommunication services   288,211,629    -    49,856    288,261,485 
All other equity investments*   6,164,013,465    -    -    6,164,013,465 
Short-term investments   301,860,805    21,900,000    -    323,760,805 
Total  $11,506,848,745   $21,900,000   $167,861   $11,528,916,606 
Large-Cap Growth Index                    
Equity investments*  $3,022,874,170   $-   $-   $3,022,874,170 
Short-term investments   58,773,674    16,600,000    -    75,373,674 
Futures contracts**   17,028    -    -    17,028 
Total  $3,081,664,872   $16,600,000   $-   $3,098,264,872 
Large-Cap Value Index                    
Equity investments*  $4,492,222,119   $-   $-   $4,492,222,119 
Short-term investments   60,585,742    28,950,000    -    89,535,742 
Futures contracts**   36,571    -    -    36,571 
Total  $4,552,844,432   $28,950,000   $-   $4,581,794,432 
S&P 500 Index                    
Equity investments*  $3,294,883,128   $-   $-   $3,294,883,128 
Short-term investments   20,111,846    20,200,000    -    40,311,846 
Futures contracts**   52,693    -    -    52,693 
Total  $3,315,047,667   $20,200,000   $-   $3,335,247,667 
327

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

Fund  Level 1   Level 2   Level 3   Total 
Small-Cap Blend Index                    
Equity investments:                    
Financials  $472,260,728   $-   $96,730   $472,357,458 
Health Care   251,151,563    -    15,521    251,167,084 
Industrials   253,471,965    -    160,444    253,632,409 
Telecommunication services   16,178,056    -    139,956    16,318,012 
All other equity investments*   827,611,747    -    -    827,611,747 
Short-term investments   239,303,252    17,575,000    -    256,878,252 
Futures contracts**   606,115    -    -    606,115 
Total  $2,060,583,426   $17,575,000   $412,651   $2,078,571,077 
Emerging Markets Equity Index                    
Equity investments:                    
Africa/Middle East  $-   $101,790,888   $239   $101,791,127 
Asia   71,560,246    912,546,375    -    984,106,621 
Europe   3,149,424    48,455,648    -    51,605,072 
Latin America   -    165,264,965    -    165,264,965 
North America   60,028,751    -    -    60,028,751 
All other equity investments*   5,988,565    132,438,560    653    138,427,778 
Short-term investments   41,460,997    1,950,000    -    43,410,997 
Total  $182,187,983   $1,362,446,436   $892   $1,544,635,311 
International Equity Index                    
Equity investments:                    
Asia  $1,539,788   $1,906,034,750   $-   $1,907,574,538 
Australasia   -    537,158,579    -    537,158,579 
Europe   14,353,658    4,155,347,989    -    4,169,701,647 
All other equity investments*   99,316,086    480,832,689    -    580,148,775 
Short-term investments   81,153,581    4,299,459    -    85,453,040 
Futures contracts**   31,557    -    -    31,557 
Total  $196,394,670   $7,083,673,466   $-   $7,280,068,136 

 

* For detailed categories, see the accompanying schedule of investments.
** Derivative instruments, excluding purchased options, are not reflected in the schedule of investments.

 

Note 3—derivative instruments

 

As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. Derivatives require little or no initial investment and permit or require net settlement. The Funds value derivatives at fair value.

 

Futures contracts: The Funds are subject to equity price risk in the normal course of pursuing their investment objectives. The Funds use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin receipts or payments are settled daily reflecting changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures contracts, there is minimal counterparty credit risk to the Funds since futures contracts are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures contracts against default.

328

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

At July 31, 2016, the Funds held the following open futures contracts:

 

Fund  Futures Contracts  Number of contracts   Settlement
value		   Expiration date  Unrealized
gain (loss)		 
Small-Cap Equity  Russell 2000 Mini Index  211   $25,678,700   September 2016  $799,534 
Large-Cap Growth Index  S&P 500 E Mini Index  42    4,553,220   September 2016   17,028 
Large-Cap Value Index  S&P 500 E Mini Index  95    10,298,950   September 2016   36,571 
S&P 500 Index  S&P 500 E Mini Index  192    20,814,720   September 2016   52,693 
Small-Cap Blend Index  Russell 2000 Mini Index  122    14,487,400   September 2016   606,115 
International Equity Index  MSCI EAFE Mini Index  46    3,864,460   September 2016   31,557 

 

Options: Certain Funds are subject to equity price risk in the normal course of pursuing their investment objectives. To manage the risk, the Funds may invest in both equity and index options. The Funds use options contracts for hedging and cash management purposes and to seek to increase total return. Call and put equity options give the holder the right, in return for a premium paid, to purchase or sell, respectively, a security at a specified exercise price at any time during the period of the option. Index options are written or purchased options in which the underlying investment is a specified index. The exercise of an index option will not result in the physical delivery of the underlier, but a cash transfer of the difference between the settlement price of the underlier and the strike price of the option. Purchased options are included in the summary portfolio of investments. Premiums on unexercised, expired options are recorded as realized gains or losses; premiums on exercised options are recorded as an adjustment to the proceeds from the sale or cost of the purchase. The difference between the premium and the amount received or paid in a closing transaction is also treated as a realized gain or loss.

 

Purchased options outstanding as of July 31, 2016 were as follows:

 

   Number of
contracts		    Value  
Growth & Income Fund          
Ciena Corp, Call, 9/16/16 at $20   300   $27,900 
Flextronics International Ltd, Call, 8/19/16 at $13   450    5,400 
Hanesbrands, Inc, Call, 8/19/16 at $29   600    15,000 
Herbalife Ltd, Call, 8/12/16 at $73   200    32,000 
Humana, Inc, Call, 1/20/17 at $200   1,000    750,000 
IMAX Corp, Put, 8/19/16 at $29   600    6,000 
Lumentum Holdings, Inc, Call, 8/19/16 at $35   450    9,000 
Pandora Media, Inc, Call, 12/16/16 at $13   300    63,000 
Total   3,900   $908,300 
Mid-Cap Growth Fund          
Proofpoint, Inc, Put, 8/19/16 at $65   1,500   $52,500 
Total   1,500   $52,500 

 

Written options outstanding as of July 31, 2016 were as follows:

 

   Number of
Contracts		    Value  
Enhanced Large-Cap Value Index Fund          
Allegion plc, Put, 8/19/16 at $70   20   $(1,200)
Baker Hughes, Inc, Call, 8/5/16 at $47   20    (1,840)
Broadcom Ltd, Put, 8/19/16 at $160   10    (1,290)
Celanese Corp, Put, 8/19/16 at $70   25    (16,375)
Cigna Corp, Put, 8/19/16 at $135   10    (6,660)
Concho Resources, Inc, Call, 8/19/16 at $130   22    (3,542)
Concho Resources, Inc, Put, 8/19/16 at $110   32    (2,560)
Continental Resources, Inc, Call, 8/19/16 at $46   50    (6,500)
Continental Resources, Inc, Put, 8/19/16 at $39   47    (3,055)
Continental Resources, Inc, Put, 8/19/16 at $42   44    (6,160)
Cullen/Frost Bankers, Inc, Put, 8/19/16 at $65   15    (975)
Cypress Semiconductor Corp, Put, 8/19/16 at $11   50    (1,750)
329

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

   Number of
contracts		    Value  
Devon Energy Corp, Call, 8/5/16 at $39.50   52   $(3,588)
Digital Realty Trust, Inc, Call, 8/19/16 at $110   20    (800)
Digital Realty Trust, Inc, Put, 8/19/16 at $105   5    (1,220)
Dillard’s, Inc, Call, 8/19/16 at $70   12    (2,160)
Energen Corp, Put, 8/19/16 at $45   36    (4,410)
EQT Corp, Put, 8/19/16 at $70   20    (1,620)
EQT Corp, Put, 8/19/16 at $75   22    (6,765)
Extra Space Storage, Inc, Put, 8/19/16 at $90   25    (9,625)
Gilead Sciences, Inc, Put, 8/5/16 at $79.50   10    (960)
Hess Corp, Call, 8/5/16 at $55   30    (1,380)
Huntsman Corp, Put, 8/19/16 at $15   38    (1,634)
Kimberly-Clark Corp, Put, 8/19/16 at $130   9    (1,665)
Laredo Petroleum, Inc, Put, 8/19/16 at $10   90    (5,850)
Laredo Petroleum, Inc, Put, 8/19/16 at $9   120    (5,040)
Level 3 Communications, Inc, Put, 8/19/16 at $52.50   21    (4,935)
Lincoln National Corp, Call, 8/19/16 at $45   20    (1,620)
LyondellBasell Industries AF S.C.A, Put, 8/19/16 at $72.50   40    (4,400)
Mid-America Apartment Communities, Inc, Put, 8/19/16 at $105   5    (600)
Nabors Industries Ltd, Put, 8/19/16 at $9   250    (12,000)
Newell Brands, Inc, Put, 8/19/16 at $48   25    (300)
Newfield Exploration Co, Put, 8/19/16 at $41   19    (1,710)
Newfield Exploration Co, Put, 8/19/16 at $42   20    (3,140)
Norwegian Cruise Line Holdings Ltd, Put, 8/19/16 at $40   11    (715)
Owens Corning, Inc, Put, 8/19/16 at $55   25    (6,000)
Owens-Illinois, Inc, Put, 8/19/16 at $17   30    (510)
QEP Resources, Inc, Put, 8/19/16 at $17   90    (3,600)
Range Resources Corp, Put, 8/19/16 at $40   24    (4,104)
Reliance Steel & Aluminum Co, Put, 8/19/16 at $77.50   6    (870)
Rice Energy, Inc, Put, 8/19/16 at $21   20    (800)
Royal Caribbean Cruises Ltd, Call, 8/19/16 at $75   18    (3,042)
Stanley Black & Decker, Inc, Call, 8/19/16 at $120   10    (2,930)
Stanley Black & Decker, Inc, Put, 8/19/16 at $120   12    (1,440)
SunTrust Banks, Inc, Put, 8/19/16 at $42   16    (1,152)
Superior Energy Services, Inc, Put, 8/19/16 at $17.50   185    (32,375)
Tahoe Resources, Inc, Put, 8/19/16 at $15   221    (11,050)
Tupperware Brands Corp, Put, 8/19/16 at $55   20    (200)
Universal Health Services, Inc, Put, 8/19/16 at $130   11    (3,300)
USG Corp, Put, 8/19/16 at $30   70    (13,650)
WPX Energy, Inc, Call, 8/19/16 at $11   200    (5,000)
WPX Energy, Inc, Put, 8/19/16 at $10   170    (12,750)
WPX Energy, Inc, Put, 8/19/16 at $9   230    (6,900)
Total   2,603   $(237,717)
Growth & Income Fund          
Acuity Brands, Inc, Put, 8/19/16 at $240   150   $(9,450)
Acuity Brands, Inc, Put, 9/16/16 at $240   100    (22,500)
Allergan plc, Put, 8/12/16 at $237.50   150    (26,250)
American Water Works Co, Inc, Put, 8/19/16 at $80   375    (30,000)
BioMarin Pharmaceutical, Inc, Call, 8/19/16 at $115   225    (28,125)
Bristol-Myers Squibb Co, Put, 8/12/16 at $72.50   300    (17,700)
330

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

   Number of
contracts		    Value  
Check Point Software Technologies Ltd, Put, 8/19/16 at $75   600   $(45,000)
Crown Castle International Corp, Put, 8/19/16 at $95   300    (21,000)
Dollar Tree, Inc, Put, 8/19/16 at $87.50   300    (6,750)
Eagle Materials, Inc, Put, 8/19/16 at $70   300    (7,200)
Edwards Lifesciences Corp, Put, 9/16/16 at $110   300    (81,000)
Electronic Arts, Inc, Put, 8/5/16 at $68   300    (8,400)
Herbalife Ltd, Put, 8/12/16 at $61   200    (22,400)
Humana, Inc, Call, 1/20/17 at $220   1,000    (267,500)
Humana, Inc, Put, 1/20/17 at $140   1,000    (480,000)
IAC, Put, 8/19/16 at $55   150    (7,500)
IMAX Corp, Call, 9/16/16 at $36   600    (15,000)
IMAX Corp, Put, 8/19/16 at $27   600    (600)
IMAX Corp, Put, 9/16/16 at $30   300    (21,000)
IMAX Corp, Put, 9/16/16 at $31   600    (66,000)
Incyte Corp, Put, 8/19/16 at $70   300    (11,250)
Jazz Pharmaceuticals plc, Put, 8/12/16 at $128   225    (47,025)
Level 3 Communications, Inc, Call, 8/19/16 at $65   450    (4,500)
Level 3 Communications, Inc, Put, 9/16/16 at $48   225    (19,125)
Level 3 Communications, Inc, Put, 9/16/16 at $49   225    (24,188)
Manhattan Associates, Inc, Call, 8/19/16 at $70   225    (3,375)
Manhattan Associates, Inc, Put, 8/19/16 at $55   300    (18,750)
Mead Johnson Nutrition Co, Put, 8/19/16 at $80   300    (4,350)
Michaels Cos, Inc, Put, 8/19/16 at $25   450    (12,375)
MicroStrategy, Inc, Call, 8/19/16 at $210   100    (40,800)
MicroStrategy, Inc, Put, 9/16/16 at $150   100    (27,000)
Newell Brands, Inc, Put, 8/19/16 at $46   600    (6,000)
O’Reilly Automotive, Inc, Put, 8/19/16 at $260   100    (2,600)
PACCAR, Inc, Put, 8/19/16 at $50   300    (2,250)
Proofpoint, Inc, Call, 8/19/16 at $75   600    (180,000)
Proofpoint, Inc, Put, 8/19/16 at $55   300    (9,000)
RPC, Inc, Put, 8/19/16 at $13   1,000    (20,000)
Schlumberger Ltd, Put, 8/12/16 at $75   450    (5,850)
Sempra Energy, Put, 8/19/16 at $105   300    (11,250)
Ulta Salon Cosmetics & Fragrance, Inc, Put, 8/12/16 at $250   150    (6,750)
United States Steel Corp, Call, 8/12/16 at $29   900    (53,100)
United States Steel Corp, Put, 8/12/16 at $24   900    (18,900)
Universal Health Services, Inc, Put, 8/19/16 at $125   225    (26,437)
WABCO Holdings, Inc, Put, 8/19/16 at $80   150    (750)
WABCO Holdings, Inc, Put, 8/19/16 at $90   150    (16,125)
WABCO Holdings, Inc, Put, 9/16/16 at $90   150    (14,625)
Total   17,025   $(1,769,750)
Mid-Cap Growth Fund          
Equinix, Inc, Call, 8/19/16 at $380   200   $(141,000)
Proofpoint, Inc, Call, 8/19/16 at $70   1,500    (930,000)
Proofpoint, Inc, Put, 8/19/16 at $60   1,500    (45,000)
Total   3,200   $(1,116,000)
331

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

Forward foreign currency contracts: The Funds are subject to foreign exchange risk in the normal course of pursuing their investment objectives. The Funds use forward foreign currency contracts (“forwards”), including Non-Deliverable forwards (“NDFs”), to, among other things, hedge portfolio currency risk and to facilitate transactions in securities denominated in foreign currencies. Forwards are over-the-counter (“OTC”) commitments that involve an obligation to purchase or sell a fixed amount of a specific currency on a future date at a locked exchange rate. NDFs allow hedging of currencies where government regulations restrict foreign access to local currency or the parties want to compensate for risk without a physical exchange of funds. Forwards are marked-to-market daily at the applicable foreign exchange rate, and any resulting unrealized gains or losses are recorded as appreciation or depreciation. The Funds realize gains and losses at the time the forward is closed.

 

At July 31, 2016, the Emerging Markets Debt Fund held the following open forward contract:

 

Counterparty   Contract
settlement date		   Receive    Deliver    Unrealized
appreciation
(depreciation)		 
Bank of America   1/17/2017  $1,000,000    CNH 6,853,000   $(26,001)
Total                $(26,001)
                    
Abbreviation(s):                   
CNH   Chinese Yuan               

 

Credit default swap contracts: The Funds are subject to credit risk in the normal course of pursuing their investment objectives. Credit default swaps can be settled either directly with the counterparty (bilateral) or through a central clearinghouse (centrally cleared). A credit default swap is a contract between a buyer and a seller of protection against pre-defined credit events for the reference entity. As a seller in a credit default swap contract, the Funds are required to pay an agreed upon amount to the counterparty with the occurrence of a specified credit event, such as certain bankruptcies related to an underlying credit instrument, index, or issuer which would likely result in a loss to the Funds. The agreed upon amount approximates the notional value of the swap and is estimated to be the maximum potential future payment that the Funds could be required to make under the contract. In return, the Funds receive from the counterparty a periodic stream of payments over the term of the contract provided that no credit event has occurred. If no credit event occurs, the Funds keep the stream of payments with no payment obligations. When the Funds sell a credit default swap contract it will cover its commitment. This may be achieved by, among other methods, maintaining cash or liquid assets in a segregated account equal to the aggregate notional value of the reference entities for all outstanding credit default swap contracts sold by the Funds.

 

The Funds may also buy credit default swap contracts, in which case the Funds function as the counterparty referenced above. This involves the risk that the contract may expire worthless. Bilateral swaps involve counterparty risk that the seller may fail to satisfy its payment obligations to the Funds with the occurrence of a credit event. Centrally cleared swaps have minimal counterparty credit risk to the Funds as they are entered into with a central clearinghouse which guarantees the swap against default.

 

Bilateral credit default swaps are valued daily, and any change in the value of the swaps is reflected separately as a change in unrealized appreciation (depreciation). For centrally cleared swaps, initial margin deposits are made, and variation margin payments are made or received reflecting daily changes in the value of the swap contract. Under the terms of the credit default swap contracts, the Funds receive or make quarterly payments based on a payment rate on a fixed notional amount. These payments are recorded as a realized gain or loss. Payments received or made as a result of a credit event or termination of the contract are recognized as realized gains or losses.

 

The Funds invest in credit default swaps to hedge or manage the risks associated with assets held in the Funds and/or to facilitate the implementation of portfolio strategies to seek to increase the total return.

 

At July 31, 2016, open credit default swap contracts sold by the Emerging Markets Debt Fund were as follows:

 

Reference entity  Counterparty  Maturity Date  Fixed
payments paid
by fund per
annum		  Implied credit spread
at 7/31/16 (1)		  Notional amount (2)   Upfront premium
paid (received)		   Unrealized
appreciation
(depreciation)		 
Vale SA  Goldman Sachs International  6/20/21  1.00%  6.20%  $2,000,000   $(409,996)  $27,569 

 

(1) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues, U.S. municipal issues or sovereign issues of an emerging country as of period end, serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

 

(2) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs is defined under the terms of that particular swap agreement. This amount may be reduced by any recoverable assets, if applicable.

332

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

Total return swap contracts: Total return swaps are agreements that provide a Fund with a return based on the performance of an underlying asset, in exchange for fee payments to a counterparty based on a specific rate. To the extent the total return of the reference security or index underlying the total return swap exceeds or falls short of the offsetting interest rate obligation, the Fund will receive a payment or make a payment to the counterparty, respectively. Total return swaps are exposed to the market risk factor of the specific underlying financial instrument or index. Additional risks to the Fund include the possibility that there is no liquid market for these agreements or that the counterparty may default on its obligation to perform. The Fund’s maximum loss from counterparty risk is the fair value of the contract. The Small-Cap Equity Fund is currently invested in a total return swap contract to gain exposure to certain equity markets.

 

At July 31, 2016, the Small-Cap Equity Fund held the following open total return swap contracts: 

 

         Fixed payments        
         paid  Total return   Unrealized 
   Notional  Termination  by fund  received   appreciation/ 
Counterparty  amount  date  per annum  by fund   depreciation 
Goldman Sachs  $24,977,165  9/1/2016  0.16%  Difference between Russell MicroCap Index less Russell 2000 Index and Russell 2500 Index  $- 

 

Note 4 —affiliated investments

 

Companies in which a Fund holds 5% or more of the outstanding voting shares are considered “affiliated companies” of the Fund, pursuant to the 1940 Act. Information regarding transactions with affiliated companies is as follows:

 

   Value at   Purchase   Sales   Realized   Dividend   Withholding   Shares at   Value at 
Issue  October 31, 2015   cost   proceeds   gain(loss)   income   expense   July 31, 2016   July 31, 2016 
Mid-Cap Value Fund                                        
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust  $187,935,969   $132,263,996   $163,109,177   $-   $-   $-    157,090,788   $157,090,788 
Small-Cap Equity Fund                                        
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust  $148,709,784   $139,540,473   $130,571,446   $-   $-   $-    157,678,811   $157,678,811 
Equity Index Fund                                        
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust  $311,112,472   $77,881,192   $87,132,859   $-   $-   $-    301,860,805   $301,860,805 
Small-Cap Blend Index Fund                                        
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust  $264,957,247   $85,698,387   $111,352,382   $-   $-   $-    239,303,252   $239,303,252 
International Equity Index Fund                                        
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust  $280,957,418   $225,110,022   $424,913,859   $-   $-   $-    -*   -*

*Not an affiliate investment as of July 31, 2016.                                                                

 

Note 5—investments

 

Securities lending: Certain Funds may lend their securities to qualified institutional borrowers to earn additional income. A Fund receives collateral (in the form of cash, Treasury securities or other collateral permitted by applicable law) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of loaned securities during the period of the loan; any additional collateral required due to changes in security values is delivered to the Fund the next business day. Cash collateral received by the Fund will generally be invested in high-quality short-term instruments or in one or more funds maintained by the securities lending agent (“Agent”) for the purpose of investing cash collateral. The value of the loaned securities are reflected in the schedule of investments. As of July 31, 2016, securities lending transactions are for equity securities, and the resulting loans are continuous, can be recalled at any time, and have no set maturity. In lending its securities, a Fund bears the market risk with respect to the investment of collateral and the risk that the Agent may default on its contractual obligations to the Fund. The Agent bears the risk that the borrower may default on its obligation to return the loaned securities as the Agent is contractually obligated to indemnify the Fund if at the time of a default by a borrower some or all of the loan securities have not been returned.

 

Securities purchased on a when-issued or delayed-delivery basis: The Emerging Markets Debt Fund may purchase securities on a when-issued or delayed-delivery basis. Securities purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after trade date; interest income is not accrued until settlement date. At the time the Fund enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.

333

TIAA-CREF FUNDS - Notes to Schedules of Investments (unaudited)

 

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

 

Net unrealized appreciation (depreciation): At July 31, 2016, 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)		 
Enhanced Large-Cap Growth Index  $1,821,018,451   $443,569,665   $(10,676,470)  $432,893,195 
Enhanced Large-Cap Value Index   1,848,537,234    375,055,259    (16,788,183)   358,267,076 
Growth & Income   3,971,263,057    1,142,774,774    (30,821,118)   1,111,953,656 
Large-Cap Growth   2,825,570,833    944,371,400    (25,746,548)   918,624,852 
Large-Cap Value   5,073,656,133    1,003,487,725    (160,829,768)   842,657,957 
Mid-Cap Growth   1,450,790,326    295,882,577    (45,176,225)   250,706,352 
Mid-Cap Value   4,393,300,275    1,344,179,146    (196,595,140)   1,147,584,006 
Small-Cap Equity   2,908,060,980    507,542,378    (131,837,326)   375,705,052 
Social Choice Equity   2,180,084,266    735,053,426    (78,349,185)   656,704,241 
Social Choice Low Carbon Equity   50,175,892    4,479,135    (978,059)   3,501,076 
Emerging Markets Equity   987,988,430    149,972,476    (28,941,512)   121,030,964 
Enhanced International Equity Index   1,351,404,843    124,563,801    (52,994,644)   71,569,157 
Global Natural Resources   259,490,058    48,223,594    (1,000,207)   47,223,387 
International Equity   4,310,503,786    491,265,764    (334,792,650)   156,473,114 
International Opportunities   1,322,674,568    190,377,880    (117,973,876)   72,404,004 
Social Choice International Equity   23,760,076    995,148    (2,340,932)   (1,345,784)
Equity Index   7,861,623,197    3,897,020,367    (229,726,958)   3,667,293,409 
Large-Cap Growth Index   2,301,378,345    821,496,702    (24,627,203)   796,869,499 
Large-Cap Value Index   4,117,605,327    586,486,394    (122,333,860)   464,152,534 
S&P 500 Index   2,369,059,791    1,047,105,394    (80,970,211)   966,135,183 
Small-Cap Blend Index   1,731,767,957    488,333,025    (142,136,020)   346,197,005 
Emerging Markets Equity Index   1,590,963,717    153,388,736    (199,717,142)   (46,328,406)
International Equity Index   7,016,105,853    1,138,101,485    (874,170,759)   263,930,726 
Emerging Markets Debt   237,801,801    11,927,185    (8,222,590)   3,704,595 
334

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  
       
Dated: September 16, 2016 By: /s/Robert G. Leary  
    Robert G. Leary  
    Principal Executive Officer and President  

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

Dated: September 16, 2016 By: /s/Robert G. Leary  
    Robert G. Leary  
    Principal Executive Officer and President  
    (principal executive officer)  

 

Dated: September 16, 2016 By: /s/Glenn E. Brightman  
    Glenn E. Brightman  
    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