N-Q 1 c90842_nq.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

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.

TIAA-CREF Funds

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: May 31

Date of reporting period: February 28, 2018

Item 1. Schedule of Investments.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle Retirement Income Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE RETIREMENT INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.6%^a

DIRECT REAL ESTATE - 2.9%
	1,449,820	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/9/18; cost $15,102,220)	$	15,788,545
			TOTAL DIRECT REAL ESTATE		15,788,545

FIXED INCOME - 40.6%
	11,046,296		TIAA-CREF Bond Fund		112,230,370
	7,598,407		TIAA-CREF Bond Plus Fund		77,655,720
	1,015,206		TIAA-CREF Emerging Markets Debt Fund		10,314,497
	1,122,646		TIAA-CREF High-Yield Fund		10,855,988
	929,425		TIAA-CREF International Bond Fund		9,192,015
			TOTAL FIXED INCOME		220,248,590

INFLATION-PROTECTED ASSETS - 8.8%
	4,281,299		TIAA-CREF Inflation-Linked Bond Fund		47,993,365
			TOTAL INFLATION-PROTECTED ASSETS		47,993,365

INTERNATIONAL EQUITY - 11.5%
	832,927		TIAA-CREF Emerging Markets Equity Fund		10,794,730
	2,121,794		TIAA-CREF Enhanced International Equity Index Fund		17,441,145
	962,186		TIAA-CREF International Equity Fund		12,902,912
	936,166		TIAA-CREF International Opportunities Fund		12,647,600
	685,453		TIAA-CREF International Small-Cap Equity Fund		8,520,184
			TOTAL INTERNATIONAL EQUITY		62,306,571

SHORT-TERM FIXED INCOME - 10.0%
	5,332,316		TIAA-CREF Short-Term Bond Fund		54,656,240
			TOTAL SHORT-TERM FIXED INCOME		54,656,240

U.S. EQUITY - 25.8%
	1,670,109		TIAA-CREF Enhanced Large-Cap Growth Index Fund		23,615,348
	2,144,978		TIAA-CREF Enhanced Large-Cap Value Index Fund		21,986,024
	1,958,109		TIAA-CREF Growth & Income Fund		28,823,365
	1,262,620		TIAA-CREF Large-Cap Growth Fund		26,666,526
	1,304,767		TIAA-CREF Large-Cap Value Fund		24,712,291
	432,714		TIAA-CREF Small-Cap Equity Fund		8,182,612
	484,066		TIAA-CREF Small/Mid-Cap Equity Fund		5,842,676
			TOTAL U.S. EQUITY		139,828,842

			TOTAL AFFILIATED INVESTMENT COMPANIES		540,822,153
			(Cost $488,507,009)

			TOTAL INVESTMENTS - 99.6%		540,822,153
			(Cost $488,507,009)
			OTHER ASSETS & LIABILITIES, NET - 0.4%		1,980,837
			NET ASSETS - 100.0%	$	542,802,990

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Resticted security. At 2/28/18, the total value of this security amounted to $15,788,545 or 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2010 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2010 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%^a

DIRECT REAL ESTATE - 2.9%
	3,411,449	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-2/9/18; cost $35,377,617)	$	37,150,680
			TOTAL DIRECT REAL ESTATE		37,150,680

FIXED INCOME - 40.2%
	25,725,759		TIAA-CREF Bond Fund		261,373,715
	17,715,189		TIAA-CREF Bond Plus Fund		181,049,235
	2,362,753		TIAA-CREF Emerging Markets Debt Fund		24,005,567
	2,616,956		TIAA-CREF High-Yield Fund		25,305,966
	2,159,289		TIAA-CREF International Bond Fund		21,355,365
			TOTAL FIXED INCOME		513,089,848

INFLATION-PROTECTED ASSETS - 7.9%
	8,987,343		TIAA-CREF Inflation-Linked Bond Fund		100,748,113
			TOTAL INFLATION-PROTECTED ASSETS		100,748,113

INTERNATIONAL EQUITY - 12.2%
	2,075,264		TIAA-CREF Emerging Markets Equity Fund		26,895,418
	5,274,678		TIAA-CREF Enhanced International Equity Index Fund		43,357,851
	2,411,623		TIAA-CREF International Equity Fund		32,339,868
	2,347,474		TIAA-CREF International Opportunities Fund		31,714,373
	1,715,744		TIAA-CREF International Small-Cap Equity Fund		21,326,703
			TOTAL INTERNATIONAL EQUITY		155,634,213

SHORT-TERM FIXED INCOME - 9.1%
	11,375,811		TIAA-CREF Short-Term Bond Fund		116,602,060
			TOTAL SHORT-TERM FIXED INCOME		116,602,060

U.S. EQUITY - 27.5%
	4,177,357		TIAA-CREF Enhanced Large-Cap Growth Index Fund		59,067,829
	5,368,012		TIAA-CREF Enhanced Large-Cap Value Index Fund		55,022,123
	4,911,815		TIAA-CREF Growth & Income Fund		72,301,912
	3,165,073		TIAA-CREF Large-Cap Growth Fund		66,846,341
	3,270,969		TIAA-CREF Large-Cap Value Fund		61,952,146
	1,081,022		TIAA-CREF Small-Cap Equity Fund		20,442,126
	1,212,916		TIAA-CREF Small/Mid-Cap Equity Fund		14,639,894
			TOTAL U.S. EQUITY		350,272,371

			TOTAL AFFILIATED INVESTMENT COMPANIES		1,273,497,285
			(Cost $1,088,969,711)

			TOTAL INVESTMENTS - 99.8%		1,273,497,285
			(Cost $1,088,969,711)
			OTHER ASSETS & LIABILITIES, NET - 0.2%		3,077,760
			NET ASSETS - 100.0%	$	1,276,575,045

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $37,150,680 or 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2015 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2015 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 2.9%
	5,284,578	b,c	TIAA-CREF Real Property Fund LP (purchased 11/28/16-2/9/18; cost $55,097,660)	$	57,549,054
			TOTAL DIRECT REAL ESTATE		57,549,054

FIXED INCOME - 39.2%
	38,749,376		TIAA-CREF Bond Fund		393,693,661
	26,762,129		TIAA-CREF Bond Plus Fund		273,508,962
	3,563,991		TIAA-CREF Emerging Markets Debt Fund		36,210,148
	3,942,898		TIAA-CREF High-Yield Fund		38,127,821
	3,231,024		TIAA-CREF International Bond Fund		31,954,825
			TOTAL FIXED INCOME		773,495,417

INFLATION-PROTECTED ASSETS - 5.9%
	10,357,022		TIAA-CREF Inflation-Linked Bond Fund		116,102,218
			TOTAL INFLATION-PROTECTED ASSETS		116,102,218

INTERNATIONAL EQUITY - 13.7%
	3,570,763		TIAA-CREF Emerging Markets Equity Fund		46,277,089
	9,075,576		TIAA-CREF Enhanced International Equity Index Fund		74,601,234
	4,193,040		TIAA-CREF International Equity Fund		56,228,664
	4,083,287		TIAA-CREF International Opportunities Fund		55,165,207
	2,990,039		TIAA-CREF International Small-Cap Equity Fund		37,166,188
			TOTAL INTERNATIONAL EQUITY		269,438,382

SHORT-TERM FIXED INCOME - 7.1%
	13,700,177		TIAA-CREF Short-Term Bond Fund		140,426,810
			TOTAL SHORT-TERM FIXED INCOME		140,426,810

U.S. EQUITY - 30.9%
	7,275,141		TIAA-CREF Enhanced Large-Cap Growth Index Fund		102,870,497
	9,335,526		TIAA-CREF Enhanced Large-Cap Value Index Fund		95,689,144
	8,551,108		TIAA-CREF Growth & Income Fund		125,872,314
	5,515,313		TIAA-CREF Large-Cap Growth Fund		116,483,412
	5,697,032		TIAA-CREF Large-Cap Value Fund		107,901,792
	1,871,011		TIAA-CREF Small-Cap Equity Fund		35,380,823
	2,112,992		TIAA-CREF Small/Mid-Cap Equity Fund		25,503,818
			TOTAL U.S. EQUITY		609,701,800

			TOTAL AFFILIATED INVESTMENT COMPANIES		1,966,713,681
			(Cost $1,879,331,826)

			TOTAL INVESTMENTS - 99.7%		1,966,713,681
			(Cost $1,879,331,826)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		6,665,487
			NET ASSETS - 100.0%	$	1,973,379,168

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $57,549,054 or 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2020 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2020 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.4%^a

DIRECT REAL ESTATE - 2.9%
	10,347,824	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/9/18; cost $107,823,199)	$	112,687,805
			TOTAL DIRECT REAL ESTATE		112,687,805

FIXED INCOME - 36.4%
	70,620,984		TIAA-CREF Bond Fund		717,509,193
	49,171,915		TIAA-CREF Bond Plus Fund		502,536,973
	6,499,498		TIAA-CREF Emerging Markets Debt Fund		66,034,903
	7,189,827		TIAA-CREF High-Yield Fund		69,525,623
	5,787,918		TIAA-CREF International Bond Fund		57,242,509
			TOTAL FIXED INCOME		1,412,849,201

INFLATION-PROTECTED ASSETS - 3.9%
	13,389,134		TIAA-CREF Inflation-Linked Bond Fund		150,092,189
			TOTAL INFLATION-PROTECTED ASSETS		150,092,189

INTERNATIONAL EQUITY - 15.6%
	7,984,851		TIAA-CREF Emerging Markets Equity Fund		103,483,669
	20,221,646		TIAA-CREF Enhanced International Equity Index Fund		166,221,927
	9,471,609		TIAA-CREF International Equity Fund		127,014,272
	9,235,527		TIAA-CREF International Opportunities Fund		124,771,966
	6,755,800		TIAA-CREF International Small-Cap Equity Fund		83,974,591
			TOTAL INTERNATIONAL EQUITY		605,466,425

SHORT-TERM FIXED INCOME - 5.1%
	19,261,974		TIAA-CREF Short-Term Bond Fund		197,435,230
			TOTAL SHORT-TERM FIXED INCOME		197,435,230

U.S. EQUITY - 35.5%
	16,417,822		TIAA-CREF Enhanced Large-Cap Growth Index Fund		232,148,010
	21,066,124		TIAA-CREF Enhanced Large-Cap Value Index Fund		215,927,770
	19,327,850		TIAA-CREF Growth & Income Fund		284,505,945
	12,455,895		TIAA-CREF Large-Cap Growth Fund		263,068,507
	12,863,880		TIAA-CREF Large-Cap Value Fund		243,641,889
	4,188,405		TIAA-CREF Small-Cap Equity Fund		79,202,733
	4,775,605		TIAA-CREF Small/Mid-Cap Equity Fund		57,641,556
			TOTAL U.S. EQUITY		1,376,136,410

			TOTAL AFFILIATED INVESTMENT COMPANIES		3,854,667,260
			(Cost $3,610,774,176)

			TOTAL INVESTMENTS - 99.4%		3,854,667,260
			(Cost $3,610,774,176)
			OTHER ASSETS & LIABILITIES, NET - 0.6%		23,832,347
			NET ASSETS - 100.0%	$	3,878,499,607

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $112,687,805 or 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2025 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2025 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.4%^a

DIRECT REAL ESTATE - 2.9%
	11,717,464	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/9/18; cost $121,969,857)	$	127,603,182
			TOTAL DIRECT REAL ESTATE		127,603,182

FIXED INCOME - 31.9%
	69,721,356		TIAA-CREF Bond Fund		708,368,977
	49,372,116		TIAA-CREF Bond Plus Fund		504,583,021
	6,439,916		TIAA-CREF Emerging Markets Debt Fund		65,429,544
	7,125,760		TIAA-CREF High-Yield Fund		68,906,103
	5,505,107		TIAA-CREF International Bond Fund		54,445,510
			TOTAL FIXED INCOME		1,401,733,155

INFLATION-PROTECTED ASSETS - 1.8%
	7,326,608		TIAA-CREF Inflation-Linked Bond Fund		82,131,270
			TOTAL INFLATION-PROTECTED ASSETS		82,131,270

INTERNATIONAL EQUITY - 18.2%
	10,474,417		TIAA-CREF Emerging Markets Equity Fund		135,748,443
	26,443,950		TIAA-CREF Enhanced International Equity Index Fund		217,369,272
	12,574,906		TIAA-CREF International Equity Fund		168,629,485
	12,237,022		TIAA-CREF International Opportunities Fund		165,322,167
	8,955,502		TIAA-CREF International Small-Cap Equity Fund		111,316,896
			TOTAL INTERNATIONAL EQUITY		798,386,263

SHORT-TERM FIXED INCOME - 3.1%
	13,208,240		TIAA-CREF Short-Term Bond Fund		135,384,456
			TOTAL SHORT-TERM FIXED INCOME		135,384,456

U.S. EQUITY - 41.5%
	21,723,863		TIAA-CREF Enhanced Large-Cap Growth Index Fund		307,175,417
	27,883,261		TIAA-CREF Enhanced Large-Cap Value Index Fund		285,803,424
	25,608,713		TIAA-CREF Growth & Income Fund		376,960,253
	16,521,942		TIAA-CREF Large-Cap Growth Fund		348,943,420
	17,066,944		TIAA-CREF Large-Cap Value Fund		323,247,911
	5,525,441		TIAA-CREF Small-Cap Equity Fund		104,486,091
	6,329,758		TIAA-CREF Small/Mid-Cap Equity Fund		76,400,173
			TOTAL U.S. EQUITY		1,823,016,689

			TOTAL AFFILIATED INVESTMENT COMPANIES		4,368,255,015
			(Cost $4,007,705,484)

			TOTAL INVESTMENTS - 99.4%		4,368,255,015
			(Cost $4,007,705,484)
			OTHER ASSETS & LIABILITIES, NET - 0.6%		26,483,761
			NET ASSETS - 100.0%	$	4,394,738,776

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $127,603,182 of 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2030 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2030 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.6%^a

DIRECT REAL ESTATE - 2.9%
	11,622,513	b,c	TIAA-CREF Real Property Fund LP (purchased 7/12/16-2/9/18; cost $120,912,097)	$	126,569,165
			TOTAL DIRECT REAL ESTATE		126,569,165

FIXED INCOME - 26.1%
	58,922,941		TIAA-CREF Bond Fund		598,657,082
	37,337,712		TIAA-CREF Bond Plus Fund		381,591,416
	5,470,522		TIAA-CREF Emerging Markets Debt Fund		55,580,508
	6,045,287		TIAA-CREF High-Yield Fund		58,457,928
	4,432,571		TIAA-CREF International Bond Fund		43,838,132
			TOTAL FIXED INCOME		1,138,125,066

INFLATION-PROTECTED ASSETS - 1.1%
	4,138,910		TIAA-CREF Inflation-Linked Bond Fund		46,397,177
			TOTAL INFLATION-PROTECTED ASSETS		46,397,177

INTERNATIONAL EQUITY - 20.8%
	11,844,033		TIAA-CREF Emerging Markets Equity Fund		153,498,670
	29,793,645		TIAA-CREF Enhanced International Equity Index Fund		244,903,763
	14,324,286		TIAA-CREF International Equity Fund		192,088,675
	13,937,236		TIAA-CREF International Opportunities Fund		188,292,053
	10,197,363		TIAA-CREF International Small-Cap Equity Fund		126,753,221
			TOTAL INTERNATIONAL EQUITY		905,536,382

SHORT-TERM FIXED INCOME - 1.1%
	4,529,101		TIAA-CREF Short-Term Bond Fund		46,423,286
			TOTAL SHORT-TERM FIXED INCOME		46,423,286

U.S. EQUITY - 47.6%
	24,694,938		TIAA-CREF Enhanced Large-Cap Growth Index Fund		349,186,425
	31,716,785		TIAA-CREF Enhanced Large-Cap Value Index Fund		325,097,048
	29,117,458		TIAA-CREF Growth & Income Fund		428,608,988
	18,787,850		TIAA-CREF Large-Cap Growth Fund		396,799,382
	19,409,329		TIAA-CREF Large-Cap Value Fund		367,612,691
	6,249,580		TIAA-CREF Small-Cap Equity Fund		118,179,559
	7,197,749		TIAA-CREF Small/Mid-Cap Equity Fund		86,876,831
			TOTAL U.S. EQUITY		2,072,360,924

			TOTAL AFFILIATED INVESTMENT COMPANIES		4,335,412,000
			(Cost $3,893,258,687)

			TOTAL INVESTMENTS - 99.6%		4,335,412,000
			(Cost $3,893,258,687)
			OTHER ASSETS & LIABILITIES, NET - 0.4%		15,996,680
			NET ASSETS - 100.0%	$	4,351,408,680

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $126,569,165 or 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2035 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2035 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.5%^a

DIRECT REAL ESTATE - 2.9%
	11,774,005	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/21/18; cost $122,544,322)	$	128,218,911
			TOTAL DIRECT REAL ESTATE		128,218,911

FIXED INCOME - 19.6%
	44,842,069		TIAA-CREF Bond Fund		455,595,422
	28,685,808		TIAA-CREF Bond Plus Fund		293,168,955
	4,207,946		TIAA-CREF Emerging Markets Debt Fund		42,752,729
	4,648,972		TIAA-CREF High-Yield Fund		44,955,561
	2,988,552		TIAA-CREF International Bond Fund		29,556,782
			TOTAL FIXED INCOME		866,029,449

INTERNATIONAL EQUITY - 23.4%
	13,445,319		TIAA-CREF Emerging Markets Equity Fund		174,251,338
	33,766,946		TIAA-CREF Enhanced International Equity Index Fund		277,564,296
	16,361,388		TIAA-CREF International Equity Fund		219,406,212
	15,918,554		TIAA-CREF International Opportunities Fund		215,059,661
	11,648,993		TIAA-CREF International Small-Cap Equity Fund		144,796,984
			TOTAL INTERNATIONAL EQUITY		1,031,078,491

U.S. EQUITY - 53.6%
	28,185,554		TIAA-CREF Enhanced Large-Cap Growth Index Fund		398,543,727
	36,192,595		TIAA-CREF Enhanced Large-Cap Value Index Fund		370,974,094
	33,248,972		TIAA-CREF Growth & Income Fund		489,424,869
	21,455,239		TIAA-CREF Large-Cap Growth Fund		453,134,657
	22,161,229		TIAA-CREF Large-Cap Value Fund		419,733,684
	7,109,303		TIAA-CREF Small-Cap Equity Fund		134,436,926
	8,218,645		TIAA-CREF Small/Mid-Cap Equity Fund		99,199,049
			TOTAL U.S. EQUITY		2,365,447,006

			TOTAL AFFILIATED INVESTMENT COMPANIES		4,390,773,857
			(Cost $3,853,191,815)

			TOTAL INVESTMENTS - 99.5%		4,390,773,857
			(Cost $3,853,191,815)
			OTHER ASSETS & LIABILITIES, NET - 0.5%		22,642,643
			NET ASSETS - 100.0%	$	4,413,416,500

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $128,218,911 of 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2040 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2040 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 2.9%
	14,585,578	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/21/18; cost $151,916,333)	$	158,836,945
			TOTAL DIRECT REAL ESTATE		158,836,945

FIXED INCOME - 11.0%
	31,117,258		TIAA-CREF Bond Fund		316,151,346
	20,491,414		TIAA-CREF Bond Plus Fund		209,422,256
	2,998,301		TIAA-CREF Emerging Markets Debt Fund		30,462,735
	3,317,912		TIAA-CREF High-Yield Fund		32,084,211
	1,185,826		TIAA-CREF International Bond Fund		11,727,817
			TOTAL FIXED INCOME		599,848,365

INTERNATIONAL EQUITY - 26.0%
	18,447,027		TIAA-CREF Emerging Markets Equity Fund		239,073,469
	46,261,658		TIAA-CREF Enhanced International Equity Index Fund		380,270,828
	22,554,058		TIAA-CREF International Equity Fund		302,449,920
	21,933,350		TIAA-CREF International Opportunities Fund		296,319,552
	16,060,666		TIAA-CREF International Small-Cap Equity Fund		199,634,080
			TOTAL INTERNATIONAL EQUITY		1,417,747,849

U.S. EQUITY - 59.8%
	38,833,820		TIAA-CREF Enhanced Large-Cap Growth Index Fund		549,110,215
	49,838,496		TIAA-CREF Enhanced Large-Cap Value Index Fund		510,844,589
	45,828,704		TIAA-CREF Growth & Income Fund		674,598,527
	29,571,662		TIAA-CREF Large-Cap Growth Fund		624,553,508
	30,545,798		TIAA-CREF Large-Cap Value Fund		578,537,410
	9,768,677		TIAA-CREF Small-Cap Equity Fund		184,725,680
	11,335,338		TIAA-CREF Small/Mid-Cap Equity Fund		136,817,533
			TOTAL U.S. EQUITY		3,259,187,462

			TOTAL AFFILIATED INVESTMENT COMPANIES		5,435,620,621
			(Cost $4,655,478,651)

			TOTAL INVESTMENTS - 99.7%		5,435,620,621
			(Cost $4,655,478,651)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		14,295,643
			NET ASSETS - 100.0%	$	5,449,916,264

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $158,836,945 or 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2045 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2045 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 2.9%
	7,498,180	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-2/21/18; cost $78,156,817)	$	81,655,186
			TOTAL DIRECT REAL ESTATE		81,655,186

FIXED INCOME - 6.0%
	8,535,113		TIAA-CREF Bond Fund		86,716,750
	5,940,110		TIAA-CREF Bond Plus Fund		60,707,919
	868,719		TIAA-CREF Emerging Markets Debt Fund		8,826,184
	962,275		TIAA-CREF High-Yield Fund		9,305,202
	364,084		TIAA-CREF International Bond Fund		3,600,788
			TOTAL FIXED INCOME		169,156,843

INTERNATIONAL EQUITY - 27.4%
	10,050,987		TIAA-CREF Emerging Markets Equity Fund		130,260,791
	24,570,267		TIAA-CREF Enhanced International Equity Index Fund		201,967,599
	12,321,043		TIAA-CREF International Equity Fund		165,225,187
	11,981,671		TIAA-CREF International Opportunities Fund		161,872,380
	8,774,722		TIAA-CREF International Small-Cap Equity Fund		109,069,792
			TOTAL INTERNATIONAL EQUITY		768,395,749

U.S. EQUITY - 63.4%
	21,204,299		TIAA-CREF Enhanced Large-Cap Growth Index Fund		299,828,794
	27,219,919		TIAA-CREF Enhanced Large-Cap Value Index Fund		279,004,171
	25,030,020		TIAA-CREF Growth & Income Fund		368,441,894
	16,146,424		TIAA-CREF Large-Cap Growth Fund		341,012,484
	16,680,456		TIAA-CREF Large-Cap Value Fund		315,927,832
	5,326,800		TIAA-CREF Small-Cap Equity Fund		100,729,794
	6,187,118		TIAA-CREF Small/Mid-Cap Equity Fund		74,678,513
			TOTAL U.S. EQUITY		1,779,623,482

			TOTAL AFFILIATED INVESTMENT COMPANIES		2,798,831,260
			(Cost $2,275,704,801)

			TOTAL INVESTMENTS - 99.7%		2,798,831,260
			(Cost $2,275,704,801)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		8,641,387
			NET ASSETS - 100.0%	$	2,807,472,647

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $81,655,186 or 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2050 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2050 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%^a

DIRECT REAL ESTATE - 2.9%
	4,853,794	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-2/21/18; cost $50,632,396)	$	52,857,817
			TOTAL DIRECT REAL ESTATE		52,857,817

FIXED INCOME - 4.8%
	4,336,800		TIAA-CREF Bond Fund		44,061,890
	3,114,212		TIAA-CREF Bond Plus Fund		31,827,244
	455,727		TIAA-CREF Emerging Markets Debt Fund		4,630,188
	504,921		TIAA-CREF High-Yield Fund		4,882,584
	230,320		TIAA-CREF International Bond Fund		2,277,861
			TOTAL FIXED INCOME		87,679,767

INTERNATIONAL EQUITY - 27.8%
	6,599,315		TIAA-CREF Emerging Markets Equity Fund		85,527,129
	15,995,425		TIAA-CREF Enhanced International Equity Index Fund		131,482,397
	8,095,250		TIAA-CREF International Equity Fund		108,557,299
	7,875,101		TIAA-CREF International Opportunities Fund		106,392,610
	5,764,335		TIAA-CREF International Small-Cap Equity Fund		71,650,687
			TOTAL INTERNATIONAL EQUITY		503,610,122

U.S. EQUITY - 64.3%
	13,927,403		TIAA-CREF Enhanced Large-Cap Growth Index Fund		196,933,473
	17,879,151		TIAA-CREF Enhanced Large-Cap Value Index Fund		183,261,301
	16,441,345		TIAA-CREF Growth & Income Fund		242,016,597
	10,602,812		TIAA-CREF Large-Cap Growth Fund		223,931,393
	10,955,233		TIAA-CREF Large-Cap Value Fund		207,492,108
	3,496,711		TIAA-CREF Small-Cap Equity Fund		66,122,810
	4,063,407		TIAA-CREF Small/Mid-Cap Equity Fund		49,045,322
			TOTAL U.S. EQUITY		1,168,803,004

			TOTAL AFFILIATED INVESTMENT COMPANIES		1,812,950,710
			(Cost $1,488,307,004)

			TOTAL INVESTMENTS - 99.8%		1,812,950,710
			(Cost $1,488,307,004)
			OTHER ASSETS & LIABILITIES, NET - 0.2%		4,132,240
			NET ASSETS - 100.0%	$	1,817,082,950

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $52,857,817 or 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2055 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2055 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.6%^a

DIRECT REAL ESTATE - 2.9%
	1,421,100	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-2/21/18; cost $14,874,815)	$	15,475,776
			TOTAL DIRECT REAL ESTATE		15,475,776

FIXED INCOME - 3.6%
	925,773		TIAA-CREF Bond Fund		9,405,856
	701,002		TIAA-CREF Bond Plus Fund		7,164,244
	102,657		TIAA-CREF Emerging Markets Debt Fund		1,042,997
	113,534		TIAA-CREF High-Yield Fund		1,097,872
	66,201		TIAA-CREF International Bond Fund		654,729
			TOTAL FIXED INCOME		19,365,698

INTERNATIONAL EQUITY - 28.0%
	1,965,133		TIAA-CREF Emerging Markets Equity Fund		25,468,129
	4,722,796		TIAA-CREF Enhanced International Equity Index Fund		38,821,384
	2,412,074		TIAA-CREF International Equity Fund		32,345,909
	2,347,136		TIAA-CREF International Opportunities Fund		31,709,807
	1,716,784		TIAA-CREF International Small-Cap Equity Fund		21,339,620
			TOTAL INTERNATIONAL EQUITY		149,684,849

U.S. EQUITY - 65.1%
	4,148,055		TIAA-CREF Enhanced Large-Cap Growth Index Fund		58,653,505
	5,325,741		TIAA-CREF Enhanced Large-Cap Value Index Fund		54,588,842
	4,897,940		TIAA-CREF Growth & Income Fund		72,097,675
	3,156,716		TIAA-CREF Large-Cap Growth Fund		66,669,843
	3,263,693		TIAA-CREF Large-Cap Value Fund		61,814,341
	1,040,944		TIAA-CREF Small-Cap Equity Fund		19,684,257
	1,210,021		TIAA-CREF Small/Mid-Cap Equity Fund		14,604,953
			TOTAL U.S. EQUITY		348,113,416

			TOTAL AFFILIATED INVESTMENT COMPANIES		532,639,739
			(Cost $457,543,679)

			TOTAL INVESTMENTS - 99.6%		532,639,739
			(Cost $457,543,679)
			OTHER ASSETS & LIABILITIES, NET - 0.4%		2,064,217
			NET ASSETS - 100.0%	$	534,703,956

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $15,475,776 of 2.9% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2060 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2060 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 98.8%^a

DIRECT REAL ESTATE - 2.9%
	217,017	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-2/21/18; cost $2,293,380)	$	2,363,310
			TOTAL DIRECT REAL ESTATE		2,363,310

FIXED INCOME - 2.4%
	89,353		TIAA-CREF Bond Fund		907,830
	75,188		TIAA-CREF Bond Plus Fund		768,422
	11,014		TIAA-CREF Emerging Markets Debt Fund		111,898
	12,183		TIAA-CREF High-Yield Fund		117,811
	9,851		TIAA-CREF International Bond Fund		97,422
			TOTAL FIXED INCOME		2,003,383

INTERNATIONAL EQUITY - 28.1%
	306,300		TIAA-CREF Emerging Markets Equity Fund		3,969,647
	730,291		TIAA-CREF Enhanced International Equity Index Fund		6,002,994
	376,150		TIAA-CREF International Equity Fund		5,044,172
	366,025		TIAA-CREF International Opportunities Fund		4,944,992
	267,694		TIAA-CREF International Small-Cap Equity Fund		3,327,432
			TOTAL INTERNATIONAL EQUITY		23,289,237

U.S. EQUITY - 65.4%
	646,780		TIAA-CREF Enhanced Large-Cap Growth Index Fund		9,145,472
	830,373		TIAA-CREF Enhanced Large-Cap Value Index Fund		8,511,323
	763,733		TIAA-CREF Growth & Income Fund		11,242,150
	492,117		TIAA-CREF Large-Cap Growth Fund		10,393,507
	508,865		TIAA-CREF Large-Cap Value Fund		9,637,894
	162,260		TIAA-CREF Small-Cap Equity Fund		3,068,339
	188,630		TIAA-CREF Small/Mid-Cap Equity Fund		2,276,768
			TOTAL U.S. EQUITY		54,275,453

			TOTAL AFFILIATED INVESTMENT COMPANIES		81,931,383
			(Cost $75,012,644)

			TOTAL INVESTMENTS - 98.8%		81,931,383
			(Cost $75,012,644)
			OTHER ASSETS & LIABILITIES, NET - 1.2%		1,012,523
			NET ASSETS - 100.0%	$	82,943,906

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Institutional Class shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/18, the total value of this security amounted to $2,363,310 of 2.9% of net assets.

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

Note 1—organization and significant accounting policies

The Lifecycle Funds (collectively the “Funds,” each individually referred to as a “Fund”) are a sub-family of mutual funds offered by the TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, that is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company.

Each Fund is a “fund of funds” that diversifies its assets by investing in Institutional Class shares of other funds of the Trust and potentially other investment pools or investment products. The Funds offer their shares, without a sales load, through their principal underwriter, Teachers Personal Investors Services, Inc. (“TPIS”), which is a wholly owned indirect subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”). Teachers Advisors, LLC (“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.

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.

New rule issuances: In October 2016, the Commission issued Final Rule Release No. 33-10231, Investment Company Reporting Modernization. This final rule modernizes investment company reporting by requiring the filing of new Forms N-PORT and N-CEN, and amends Regulation S-X disclosures related to derivatives and other disclosures in the financial statements and other filings. The requirements of this final rule in relation to Form N-CEN must be complied with by June 1, 2018. In December 2017, the Commission issued Temporary Final Rule Release No. 33-10442, which delayed the filing requirements related to Form N-PORT from June 1, 2018 to April 1, 2019, but still requires the Funds to maintain the data that would have been filed on Form N-PORT during the deferral period. Management is currently assessing the impact of Forms N-PORT and N-CEN on the Funds’ various filings. On August 1, 2017, the Funds implemented amendments to Regulation S-X related to derivatives and other disclosures in the financial statements and other filings. The amended S-X disclosures required under this rule did not have an impact on net assets or results of operations but resulted in new disclosures in the schedules of investments for certain investment types.

In October 2016, the Commission issued Final Rule Release No. 33-10233, Investment Company Liquidity Risk Management Programs. This final rule requires funds to establish a liquidity risk management program and enhances disclosures regarding funds’ liquidity. The requirements of this final rule, in relation to the implementation of the liquidity risk management program and the 15% illiquid investment limit, must be adopted by December 1, 2018. In February 2018, the Commission issued Release No. IC-33010, which delayed the compliance requirements related to liquidity classification, highly liquid investment minimums, and board approval of the liquidity risk management programs from December 1, 2018 to June 1, 2019. Management is currently assessing the impact of this rule to the Funds’ financial statements and other filings.

In March 2017, the Commission issued Final Rule Release No. 34-80295, Amendment to Securities Transaction Settlement Cycle. This final rule shortens the standard settlement cycle from T+3 to T+2. It is expected that this shortened settlement time will decrease certain risks due to the reduction of unsettled trades and risk exposure. The compliance date for this final rule was September 5, 2017. This rule did not materially impact the Funds’ financial statements and other filings.

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

Note 2—valuation of investments

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

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

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

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

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

In accordance with ASC 820, certain portfolio investments that are measured at fair value using the net asset value (“NAV”) per share practical expedient are not categorized within the fair value hierarchy. These investments will be disclosed at their fair value to allow reconciliation back to the schedules of investments.

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

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

Investments in unregistered limited partnerships: These investments are measured at fair value as of the valuation date using the NAV per share practical expedient and are not categorized within the fair value hierarchy.

Transfers between levels are recognized at the end of the reporting period. For the period ended February 28, 2018, there were no transfers between levels by the Funds.

The following table summarizes the market value of the Funds’ investments as of February 28, 2018, based on the inputs used to value them:

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

Fund	Level 1		Level 2		Level 3		Fair Value using Practical Expedient^a		Total
Lifecycle Retirement Income
Registered investment companies	$	525,033,608	$	—	$	—	$	—	$	525,033,608
TIAA-CREF Real Property Fund LP		—		—		—		15,788,545		15,788,545
Total	$	525,033,608	$	—	$	—	$	15,788,545	$	540,822,153
Lifecycle 2010
Registered investment companies	$	1,236,346,605	$	—	$	—	$	—	$	1,236,346,605
TIAA-CREF Real Property Fund LP		—		—		—		37,150,680		37,150,680
Total	$	1,236,346,605	$	—	$	—	$	37,150,680	$	1,273,497,285
Lifecycle 2015
Registered investment companies	$	1,909,164,627	$	—	$	—	$	—	$	1,909,164,627
TIAA-CREF Real Property Fund LP		—		—		—		57,549,054		57,549,054
Total	$	1,909,164,627	$	—	$	—	$	57,549,054	$	1,966,713,681
Lifecycle 2020
Registered investment companies	$	3,741,979,455	$	—	$	—	$	—	$	3,741,979,455
TIAA-CREF Real Property Fund LP		—		—		—		112,687,805		112,687,805
Total	$	3,741,979,455	$	—	$	—	$	112,687,805	$	3,854,667,260
Lifecycle 2025
Registered investment companies	$	4,240,651,833	$	—	$	—	$	—	$	4,240,651,833
TIAA-CREF Real Property Fund LP		—		—		—		127,603,182		127,603,182
Total	$	4,240,651,833	$	—	$	—	$	127,603,182	$	4,368,255,015
Lifecycle 2030
Registered investment companies	$	4,208,842,835	$	—	$	—	$	—	$	4,208,842,835
TIAA-CREF Real Property Fund LP		—		—		—		126,569,165		126,569,165
Total	$	4,208,842,835	$	—	$	—	$	126,569,165	$	4,335,412,000
Lifecycle 2035
Registered investment companies	$	4,262,554,946	$	—	$	—	$	—	$	4,262,554,946
TIAA-CREF Real Property Fund LP		—		—		—		128,218,911		128,218,911
Total	$	4,262,554,946	$	—	$	—	$	128,218,911	$	4,390,773,857
Lifecycle 2040
Registered investment companies	$	5,276,783,676	$	—	$	—	$	—	$	5,276,783,676
TIAA-CREF Real Property Fund LP		—		—		—		158,836,945		158,836,945
Total	$	5,276,783,676	$	—	$	—	$	158,836,945	$	5,435,620,621
Lifecycle 2045
Registered investment companies	$	2,717,176,074	$	—	$	—	$	—	$	2,717,176,074
TIAA-CREF Real Property Fund LP		—		—		—		81,655,186		81,655,186
Total	$	2,717,176,074	$	—	$	—	$	81,655,186	$	2,798,831,260
Lifecycle 2050
Registered investment companies	$	1,760,092,893	$	—	$	—	$	—	$	1,760,092,893
TIAA-CREF Real Property Fund LP		—		—		—		52,857,817		52,857,817
Total	$	1,760,092,893	$	—	$	—	$	52,857,817	$	1,812,950,710
Lifecycle 2055
Registered investment companies	$	517,163,963	$	—	$	—	$	—	$	517,163,963
TIAA-CREF Real Property Fund LP		—		—		—		15,475,776		15,475,776
Total	$	517,163,963	$	—	$	—	$	15,475,776	$	532,639,739
Lifecycle 2060
Registered investment companies	$	79,568,073	$	—	$	—	$	—	$	79,568,073
TIAA-CREF Real Property Fund LP		—		—		—		2,363,310		2,363,310
Total	$	79,568,073	$	—	$	—	$	2,363,310	$	81,931,383

^a In accordance with ASC 820, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the schedules of investments.

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

Note 3—investment adviser and affiliates

Investments in other investment companies advised by Advisors are deemed to be affiliated investments. The Funds invest their assets in the TIAA-CREF Real Property Fund LP and in the Institutional Class shares of the affiliated TIAA-CREF Funds. Information regarding transactions with affiliated companies is as follows (dollar amounts are in thousands^):

										Change in
										unrealized
	Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/17		cost		proceeds		gain (loss)			(depreciation)			income		2/28/18
Lifecycle Retirement Income Fund
TIAA-CREF Funds:
Bond	$	101,950	$	17,526	$	4,486	$	15		$	(2,716	)	$	2,337	$	112,230
Bond Plus		66,823		16,530		3,757		(49	)		(1,850	)		1,728		77,656
Emerging Markets Debt		9,351		1,858		736		202			(168	)		435		10,314
Emerging Markets Equity		9,673		1,914		2,306		678			1,188			81		10,795
Enhanced International Equity Index		16,587		2,526		2,697		172			853			523		17,441
Enhanced Large-Cap Growth Index		22,585		3,758		5,347		1,983			1,778			243		23,615
Enhanced Large-Cap Value Index		21,224		4,434		4,511		1,165			623			417		21,986
Growth & Income		27,507		3,625		5,139		1,658			2,194			234		28,823
High-Yield		9,865		1,882		657		(5	)		(229	)		395		10,856
Inflation-Linked Bond		44,402		11,544		6,776		(59	)		(1,118	)		871		47,993
International Bond		9,065		1,409		1,419		(30	)		167			70		9,192
International Equity		12,886		2,021		3,331		827			664			140		12,903
International Opportunities		12,312		1,503		2,943		438			1,338			148		12,648
International Small-Cap Equity		8,026		1,454		1,553		412			465			216		8,520
Large-Cap Growth		25,218		3,627		6,042		2,000			2,792			117		26,667
Large-Cap Value		23,634		5,515		5,093		1,523			350			344		24,712
Short-Term Bond		51,850		8,580		5,208		5			(543	)		744		54,656
Small-Cap Equity		7,331		2,740		1,949		916			(49	)		66		8,183
Small/Mid-Cap Equity		5,491		1,090		1,225		364			373			57		5,843
TIAA-CREF Real Property Fund LP^a		9,146		7,021		963		41			544			263		15,789
	$	494,926	$	100,557	$	66,138	$	12,256		$	6,656		$	9,429	$	540,822
Lifecycle 2010 Fund
TIAA-CREF Funds:
Bond	$	247,807	$	35,464	$	15,326	$	50		$	(6,480	)	$	5,633	$	261,374
Bond Plus		162,599		33,710		10,629		(221	)		(4,311	)		4,171		181,049
Emerging Markets Debt		22,738		4,106		2,471		472			(375	)		1,051		24,006
Emerging Markets Equity		25,675		4,162		6,980		1,580			3,365			210		26,895
Enhanced International Equity Index		44,037		5,226		8,695		836			1,954			1,353		43,358
Enhanced Large-Cap Growth Index		60,301		7,806		15,967		6,413			3,478			630		59,068
Enhanced Large-Cap Value Index		56,686		10,264		14,289		3,683			1,126			1,074		55,022
Growth & Income		73,547		7,177		15,928		4,301			5,864			618		72,302
High-Yield		23,984		3,612		1,735		(3	)		(552	)		954		25,306
Inflation-Linked Bond		94,376		25,099		16,233		(10	)		(2,484	)		1,858		100,748
International Bond		22,012		2,803		3,792		(79	)		411			166		21,355
International Equity		34,476		4,774		10,490		2,952			1,056			365		32,340
International Opportunities		32,924		2,617		8,573		1,295			3,451			386		31,714
International Small-Cap Equity		21,477		2,936		4,715		1,150			1,217			561		21,327
Large-Cap Growth		67,445		7,717		18,493		7,844			4,744			304		66,846
Large-Cap Value		63,180		11,416		14,514		4,470			575			899		61,952
Short-Term Bond		112,809		17,946		12,927		(32	)		(1,132	)		1,619		116,602
Small-Cap Equity		19,608		6,268		5,687		2,403			(78	)		171		20,442
Small/Mid-Cap Equity		14,683		2,496		3,860		898			1,068			147		14,640
TIAA-CREF Real Property Fund LP^a		22,576		16,481		3,338		16			1,416			643		37,151
	$	1,222,940	$	212,080	$	194,642	$	38,018		$	14,313		$	22,813	$	1,273,497

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

									Change in
									unrealized
	Value at		Purchases		Sales		Realized		appreciation			Dividend		Value at
Issue	5/31/17		cost		proceeds		gain (loss)		(depreciation)			income		2/28/18
Lifecycle 2015 Fund
TIAA-CREF Funds:
Bond	$	380,071	$	46,994	$	23,440	$	377	$	(10,094	)	$	8,554	$	393,694
Bond Plus		249,758		47,689		16,917		284		(7,154	)		6,351		273,509
Emerging Markets Debt		34,891		5,472		3,596		946		(798	)		1,600		36,210
Emerging Markets Equity		44,850		5,802		11,374		3,121		5,458			365		46,277
Enhanced International Equity Index		77,142		6,177		13,536		2,167		2,651			2,348		74,601
Enhanced Large-Cap Growth Index		106,189		11,072		26,487		12,364		4,942			1,108		102,870
Enhanced Large-Cap Value Index		99,767		14,540		22,727		8,323		89			1,888		95,689
Growth & Income		129,797		8,872		25,879		12,826		4,927			1,083		125,872
High-Yield		36,809		4,583		2,420		15		(859	)		1,449		38,128
Inflation-Linked Bond		110,257		32,946		24,280		175		(2,996	)		2,125		116,102
International Bond		33,649		3,793		5,990		90		413			252		31,955
International Equity		60,826		5,934		16,794		3,801		3,214			642		56,229
International Opportunities		58,117		3,139		14,425		2,765		5,569			679		55,165
International Small-Cap Equity		37,887		3,975		7,549		2,683		1,462			983		37,166
Large-Cap Growth		119,027		9,902		30,259		13,385		8,666			534		116,484
Large-Cap Value		111,534		16,545		23,438		10,837		(1,994	)		1,580		107,902
Short-Term Bond		139,253		20,014		17,352		111		(1,524	)		1,959		140,427
Small-Cap Equity		34,602		9,770		9,463		5,056		(989	)		296		35,381
Small/Mid-Cap Equity		25,913		3,502		6,224		2,348		1,099			259		25,504
TIAA-CREF Real Property Fund LP^a		35,598		24,935		5,221		339		1,898			1,001		57,549
	$	1,925,937	$	285,656	$	307,371	$	82,013	$	13,980		$	35,056	$	1,966,714
Lifecycle 2020 Fund
TIAA-CREF Funds:
Bond	$	643,703	$	109,322	$	17,619	$	567	$	(18,081	)	$	15,066	$	717,509
Bond Plus		425,031		105,632		15,337		309		(12,825	)		11,271		502,537
Emerging Markets Debt		59,226		11,388		3,532		1,504		(1,287	)		2,806		66,035
Emerging Markets Equity		94,011		12,628		18,218		6,657		11,888			805		103,484
Enhanced International Equity Index		162,879		14,041		20,881		3,759		6,424			5,171		166,222
Enhanced Large-Cap Growth Index		225,395		22,569		42,339		23,901		14,212			2,466		232,148
Enhanced Large-Cap Value Index		211,804		29,270		33,746		16,587		1,648			4,225		215,928
Growth & Income		276,167		19,682		40,181		24,353		14,919			2,367		284,506
High-Yield		62,410		10,568		1,935		29		(1,546	)		2,553		69,526
Inflation-Linked Bond		132,826		58,679		38,020		299		(3,692	)		2,610		150,092
International Bond		56,379		9,448		9,434		214		635			442		57,242
International Equity		129,584		11,834		27,954		7,233		7,997			1,433		127,014
International Opportunities		123,720		6,527		23,639		4,789		13,375			1,517		124,772
International Small-Cap Equity		80,740		8,435		11,284		5,001		3,971			2,198		83,975
Large-Cap Growth		253,486		19,652		49,228		28,824		19,815			1,196		263,068
Large-Cap Value		237,216		34,755		35,116		22,585		(3,351	)		3,522		243,642
Short-Term Bond		186,213		35,021		21,736		154		(2,114	)		2,668		197,435
Small-Cap Equity		73,657		20,230		15,588		10,481		(1,660	)		652		79,203
Small/Mid-Cap Equity		55,122		6,940		9,415		4,439		3,090			578		57,641
TIAA-CREF Real Property Fund LP^a		65,535		48,575		5,672		399		3,851			1,924		112,688
	$	3,555,104	$	595,196	$	440,874	$	162,084	$	57,269		$	65,470	$	3,854,667

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

									Change in
									unrealized
	Value at		Purchases		Sales		Realized		appreciation			Dividend		Value at
Issue	5/31/17		cost		proceeds		gain (loss)		(depreciation)			income		2/28/18
Lifecycle 2025 Fund
TIAA-CREF Funds:
Bond	$	612,338	$	128,134	$	14,537	$	559	$	(17,751	)	$	14,572	$	708,369
Bond Plus		408,043		124,954		15,591		284		(12,835	)		11,065		504,583
Emerging Markets Debt		56,494		12,783		2,800		1,418		(1,228	)		2,714		65,430
Emerging Markets Equity		117,426		19,321		19,936		8,327		15,126			1,044		135,749
Enhanced International Equity Index		203,189		22,065		20,546		3,897		8,764			6,691		217,369
Enhanced Large-Cap Growth Index		283,062		34,163		43,922		28,411		20,649			3,231		307,175
Enhanced Large-Cap Value Index		265,958		41,376		32,043		19,635		3,479			5,528		285,803
Growth & Income		347,851		30,966		38,778		28,140		22,473			3,034		376,960
High-Yield		59,596		12,485		1,683		24		(1,516	)		2,478		68,906
Inflation-Linked Bond		67,663		56,338		40,368		253		(1,755	)		1,247		82,131
International Bond		52,513		10,212		9,060		191		590			415		54,446
International Equity		163,256		17,702		29,628		8,725		10,777			1,879		168,630
International Opportunities		155,458		10,586		23,897		5,060		18,115			1,989		165,322
International Small-Cap Equity		101,460		13,373		11,103		5,884		5,490			2,882		111,317
Large-Cap Growth		318,891		28,628		48,961		33,669		29,147			1,568		348,943
Large-Cap Value		298,732		52,715		36,371		27,571		(3,055	)		4,625		323,248
Short-Term Bond		125,782		30,407		19,403		121		(1,453	)		1,768		135,385
Small-Cap Equity		92,730		26,143		15,362		13,225		(1,993	)		844		104,486
Small/Mid-Cap Equity		69,386		10,220		9,499		5,311		4,302			758		76,400
TIAA-CREF Real Property Fund LP^a		71,249		54,210		2,562		183		4,523			2,144		127,603
	$	3,871,077	$	736,781	$	436,050	$	190,888	$	101,849		$	70,476	$	4,368,255
Lifecycle 2030 Fund
TIAA-CREF Funds:
Bond	$	508,567	$	124,675	$	19,846	$	566	$	(14,992	)	$	12,180	$	598,657
Bond Plus		324,176		75,740		8,979		316		(9,463	)		8,425		381,591
Emerging Markets Debt		47,131		12,597		3,268		1,257		(1,098	)		2,270		55,581
Emerging Markets Equity		128,518		24,079		19,992		9,012		16,924			1,166		153,499
Enhanced International Equity Index		223,428		27,748		20,111		3,779		10,060			7,461		244,904
Enhanced Large-Cap Growth Index		312,067		40,288		40,809		29,753		24,990			3,638		349,186
Enhanced Large-Cap Value Index		293,086		48,208		27,538		20,841		4,691			6,225		325,097
Growth & Income		383,945		37,319		33,833		28,415		28,181			3,377		428,609
High-Yield		49,687		12,127		2,098		12		(1,270	)		2,080		58,458
Inflation-Linked Bond		28,270		20,583		1,341		37		(1,152	)		803		46,397
International Bond		42,524		9,559		8,860		132		483			329		43,838
International Equity		179,989		20,672		27,698		8,787		12,819			2,115		192,089
International Opportunities		171,916		14,120		23,533		4,969		20,820			2,240		188,292
International Small-Cap Equity		112,114		16,784		10,464		6,235		6,348			3,245		126,753
Large-Cap Growth		352,236		34,781		46,470		35,021		35,230			1,766		396,799
Large-Cap Value		329,731		62,687		33,555		29,812		(2,657	)		5,208		367,613
Short-Term Bond		28,288		19,869		1,295		29		(446	)		532		46,423
Small-Cap Equity		102,422		29,205		14,438		14,347		(1,932	)		940		118,180
Small/Mid-Cap Equity		76,611		11,127		7,780		5,440		5,224			855		86,877
TIAA-CREF Real Property Fund LP^a		69,412		53,059		515		36		4,577			2,106		126,569
	$	3,764,118	$	695,227	$	352,423	$	198,796	$	137,337		$	66,961	$	4,335,412

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

										Change in
										unrealized
	Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/17		cost		proceeds		gain (loss)			(depreciation)			income		2/28/18
Lifecycle 2035 Fund
TIAA-CREF Funds:
Bond	$	376,234	$	113,624	$	23,136	$	494		$	(11,386	)	$	9,131	$	455,595
Bond Plus		242,304		69,025		11,027		285			(7,268	)		6,373		293,168
Emerging Markets Debt		35,230		10,694		2,496		948			(835	)		1,711		42,753
Emerging Markets Equity		144,083		24,696		18,000		9,270			19,919			1,322		174,251
Enhanced International Equity Index		250,753		31,613		20,291		3,822			11,667			8,451		277,564
Enhanced Large-Cap Growth Index		351,654		45,920		41,714		32,474			29,734			4,153		398,544
Enhanced Large-Cap Value Index		330,207		56,208		28,149		23,105			5,803			7,106		370,974
Growth & Income		433,472		43,943		34,676		31,260			33,027			3,833		489,425
High-Yield		37,141		10,655		1,878		8			(970	)		1,574		44,956
International Bond		29,298		9,583		9,724		33			367			216		29,557
International Equity		203,059		22,162		27,466		9,266			15,216			2,415		219,406
International Opportunities		193,955		14,783		22,948		4,910			24,360			2,557		215,060
International Small-Cap Equity		126,672		18,790		10,028		6,697			7,534			3,704		144,797
Large-Cap Growth		397,413		38,803		47,017		37,479			42,437			2,015		453,135
Large-Cap Value		372,088		70,634		32,800		33,065			(2,243	)		5,946		419,734
Small-Cap Equity		115,565		33,333		15,570		16,390			(2,341	)		1,065		134,437
Small/Mid-Cap Equity		86,348		12,319		7,281		5,869			6,219			976		99,199
TIAA-CREF Real Property Fund LP^a		70,007		54,620		1,078		83			4,587			2,133		128,219
	$	3,795,483	$	681,405	$	355,279	$	215,458		$	175,827		$	64,681	$	4,390,774
Lifecycle 2040 Fund
TIAA-CREF Funds:
Bond	$	261,272	$	96,155	$	33,691	$	513		$	(7,939	)	$	6,297	$	316,151
Bond Plus		173,428		58,863		17,849		217			(5,131	)		4,516		209,422
Emerging Markets Debt		25,217		9,462		3,751		717			(631	)		1,208		30,463
Emerging Markets Equity		197,426		34,254		24,699		12,694			27,215			1,808		239,073
Enhanced International Equity Index		344,625		41,688		27,205		5,084			16,079			11,544		380,271
Enhanced Large-Cap Growth Index		484,140		60,492		54,160		44,032			41,463			5,713		549,110
Enhanced Large-Cap Value Index		454,677		75,055		36,273		32,206			7,505			9,793		510,845
Growth & Income		597,318		54,522		41,426		40,932			47,420			5,278		674,598
High-Yield		26,585		9,215		3,033		4			(687	)		1,115		32,084
International Bond		15,908		8,870		13,200		(121	)		271			79		11,728
International Equity		279,821		27,566		34,729		11,978			21,706			3,318		302,450
International Opportunities		267,159		19,376		30,453		6,524			33,714			3,514		296,320
International Small-Cap Equity		174,692		24,320		12,295		8,914			10,694			5,092		199,634
Large-Cap Growth		547,770		51,206		62,325		51,134			58,729			2,770		624,554
Large-Cap Value		512,846		91,074		38,755		43,623			(1,466	)		8,146		578,537
Small-Cap Equity		159,208		44,171		20,172		22,299			(3,019	)		1,462		184,726
Small/Mid-Cap Equity		119,124		17,027		10,089		8,058			8,580			1,342		136,818
TIAA-CREF Real Property Fund LP^a		87,188		69,010		3,164		240			5,563			2,645		158,837
	$	4,728,404	$	792,326	$	467,269	$	289,048		$	260,066		$	75,640	$	5,435,621

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

										Change in
										unrealized
	Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/17		cost		proceeds		gain (loss)			(depreciation)			income		2/28/18
Lifecycle 2045 Fund
TIAA-CREF Funds:
Bond	$	78,279	$	31,173	$	20,662	$	(440	)	$	(1,589	)	$	1,808	$	86,717
Bond Plus		54,066		19,510		11,416		(6	)		(1,415	)		1,351		60,708
Emerging Markets Debt		7,857		2,637		1,540		166			(135	)		362		8,826
Emerging Markets Equity		98,383		22,486		7,030		4,331			16,252			962		130,261
Enhanced International Equity Index		171,382		28,342		8,379		130			10,493			6,061		201,968
Enhanced Large-Cap Growth Index		241,450		46,972		19,022		14,546			30,204			3,047		299,829
Enhanced Large-Cap Value Index		226,917		54,617		10,903		11,979			8,294			5,220		279,004
Growth & Income		298,072		45,690		8,701		12,963			33,328			2,719		368,442
High-Yield		8,284		2,903		1,683		(2	)		(197	)		334		9,305
International Bond		2,992		4,982		4,394		48			(27	)		8		3,601
International Equity		139,743		22,712		12,456		2,506			14,797			1,772		165,225
International Opportunities		133,049		15,867		7,777		262			20,471			1,876		161,872
International Small-Cap Equity		86,968		18,435		2,738		3,599			6,377			2,717		109,070
Large-Cap Growth		273,528		42,269		20,797		12,301			45,433			1,478		341,012
Large-Cap Value		256,105		63,330		9,711		15,375			6,207			4,352		315,928
Small-Cap Equity		79,473		27,774		6,915		9,106			736			777		100,730
Small/Mid-Cap Equity		59,480		12,603		2,823		3,195			5,361			716		74,678
TIAA-CREF Real Property Fund LP^a		41,562		38,583		1,359		5			2,864			1,325		81,655
	$	2,257,590	$	500,885	$	158,306	$	90,064		$	197,454		$	36,885	$	2,798,831
Lifecycle 2050 Fund
TIAA-CREF Funds:
Bond	$	40,117	$	18,507	$	13,521	$	(268	)	$	(751	)	$	921	$	44,062
Bond Plus		28,374		11,597		7,389		(3	)		(736	)		705		31,827
Emerging Markets Debt		4,123		1,536		965		89			(71	)		188		4,630
Emerging Markets Equity		63,014		16,233		4,286		2,759			10,513			626		85,527
Enhanced International Equity Index		109,627		20,549		5,458		52			6,712			3,914		131,482
Enhanced Large-Cap Growth Index		154,609		34,119		11,437		9,454			19,520			1,985		196,933
Enhanced Large-Cap Value Index		145,269		37,962		5,231		7,786			5,228			3,401		183,261
Growth & Income		190,869		33,765		4,172		8,382			21,557			1,753		242,017
High-Yield		4,350		1,756		1,119		(2	)		(102	)		174		4,883
International Bond		964		3,869		2,556		26			(25	)		3		2,278
International Equity		89,315		16,448		6,984		1,569			9,560			1,152		108,557
International Opportunities		85,153		12,087		4,217		96			13,274			1,220		106,393
International Small-Cap Equity		55,696		13,566		1,696		2,337			4,071			1,768		71,651
Large-Cap Growth		175,077		30,582		11,536		7,918			29,513			961		223,932
Large-Cap Value		164,000		45,003		5,381		9,993			3,876			2,830		207,492
Small-Cap Equity		50,878		19,361		4,336		5,915			427			504		66,123
Small/Mid-Cap Equity		38,106		9,079		1,612		2,065			3,450			466		49,045
TIAA-CREF Real Property Fund LP^a		26,224		25,724		920		3			1,827			848		52,858
	$	1,425,765	$	351,743	$	92,816	$	58,171		$	127,843		$	23,419	$	1,812,951

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

										Change in
										unrealized
	Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/17		cost		proceeds		gain (loss)			(depreciation)			income		2/28/18
Lifecycle 2055 Fund
TIAA-CREF Funds:
Bond	$	7,960	$	5,370	$	3,706	$	(68	)	$	(146	)	$	192	$	9,406
Bond Plus		5,836		3,470		1,976		(2	)		(161	)		151		7,164
Emerging Markets Debt		855		423		220		18			(15	)		40		1,043
Emerging Markets Equity		16,435		7,299		1,158		763			2,899			178		25,468
Enhanced International Equity Index		28,385		9,999		1,336		(7	)		1,780			1,099		38,821
Enhanced Large-Cap Growth Index		40,426		16,139		3,383		2,674			5,449			564		58,653
Enhanced Large-Cap Value Index		37,968		17,214		1,912		2,208			1,314			966		54,589
Growth & Income		49,899		17,919		1,731		2,385			6,011			482		72,098
High-Yield		897		480		256		(1	)		(22	)		37		1,098
International Bond		202		825		372		3			(3	)		2		655
International Equity		23,356		8,057		1,724		384			2,657			328		32,346
International Opportunities		22,234		6,639		838		3			3,672			347		31,710
International Small-Cap Equity		14,518		6,202		451		661			1,071			503		21,340
Large-Cap Growth		45,748		16,097		3,554		2,193			8,357			274		66,670
Large-Cap Value		42,872		19,553		1,524		2,857			902			805		61,814
Small-Cap Equity		13,297		7,732		1,317		1,683			35			144		19,684
Small/Mid-Cap Equity		9,961		4,198		483		587			923			133		14,605
TIAA-CREF Real Property Fund LP^a		6,736		8,452		215		1			502			237		15,476
	$	367,585	$	156,068	$	26,156	$	16,342		$	35,225		$	6,482	$	532,640
Lifecycle 2060 Fund
TIAA-CREF Funds:
Bond	$	552	$	1,105	$	730	$	(2	)	$	(17	)	$	17	$	908
Bond Plus		434		714		363		(1	)		(16	)		13		768
Emerging Markets Debt		63		86		35		1			(1	)		3		112
Emerging Markets Equity		1,652		2,239		252		100			333			24		3,970
Enhanced International Equity Index		2,847		3,391		402		(3	)		170			142		6,003
Enhanced Large-Cap Growth Index		4,067		5,006		593		349			667			74		9,146
Enhanced Large-Cap Value Index		3,819		5,111		506		281			97			128		8,511
Growth & Income		5,020		6,045		556		310			738			56		11,242
High-Yield		67		94		41		—			(2	)		3		118
International Bond		7		163		74		—			1			1		97
International Equity		2,342		2,696		289		50			296			43		5,044
International Opportunities		2,238		2,546		265		(2	)		428			46		4,945
International Small-Cap Equity		1,460		1,955		190		85			104			66		3,327
Large-Cap Growth		4,601		5,470		731		284			1,058			36		10,394
Large-Cap Value		4,313		5,750		460		368			43			107		9,638
Small-Cap Equity		1,338		2,024		250		217			(31	)		19		3,068
Small/Mid-Cap Equity		1,002		1,318		136		75			94			17		2,277
TIAA-CREF Real Property Fund LP^a		664		1,651		12		—			60			30		2,363
	$	36,486	$	47,364	$	5,885	$	2,112		$	4,022		$	825	$	81,931

^ Some amounts represent less than $1,000.

^a Restricted security.

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

Note 4—investments

TIAA-CREF Real Property Fund LP (“RPF”): The Funds invest in the RPF, which is an affiliated real estate limited partnership. The RPF is an unregistered open-end fund that intends to invest in direct real estate holdings and may invest a portion of its assets in REIT securities, mortgage related securitization and money market instruments in accordance with exemptive relief received from the Commission. The Funds are not liable for the debts of the RPF beyond the amounts the Funds have contributed. The Funds can redeem from RPF daily subject to certain approvals. Investments in the RPF are illiquid and the Funds may be unable to dispose of such investments at opportune times. As such, this investment has been designated as restricted and the value is reflected in the schedule of investments.

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 February 28, 2018, net unrealized appreciation (depreciation) based on the aggregate cost of all investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation, was as follows (dollar amounts are in thousands):

Fund	Book cost		Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Lifecycle Retirement Income	$	488,507	$	56,588	$	(4,273	)	$	52,315
Lifecycle 2010		1,088,970		188,963		(4,436	)		184,527
Lifecycle 2015		1,879,332		124,246		(36,864	)		87,382
Lifecycle 2020		3,610,774		300,724		(56,831	)		243,893
Lifecycle 2025		4,007,705		412,046		(51,496	)		360,550
Lifecycle 2030		3,893,259		482,498		(40,345	)		442,153
Lifecycle 2035		3,853,192		566,872		(29,290	)		537,582
Lifecycle 2040		4,655,479		803,085		(22,943	)		780,142
Lifecycle 2045		2,275,705		526,200		(3,074	)		523,126
Lifecycle 2050		1,488,307		326,104		(1,460	)		324,644
Lifecycle 2055		457,544		75,383		(287	)		75,096
Lifecycle 2060		75,013		6,941		(23	)		6,918

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

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX RETIREMENT INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 98.5%(a)

FIXED INCOME - 39.7%
	7,693,461	TIAA-CREF Bond Index Fund	$	81,166,011
		TOTAL FIXED INCOME		81,166,011

INFLATION-PROTECTED ASSETS - 9.9%
	1,813,472	TIAA-CREF Inflation-Linked Bond Fund		20,329,024
		TOTAL INFLATION-PROTECTED ASSETS		20,329,024

INTERNATIONAL EQUITY - 11.6%
	523,003	TIAA-CREF Emerging Markets Equity Index Fund		6,469,548
	857,842	TIAA-CREF International Equity Index Fund		17,285,510
		TOTAL INTERNATIONAL EQUITY		23,755,058

SHORT-TERM FIXED INCOME - 10.0%
	2,067,553	TIAA-CREF Short-Term Bond Index Fund		20,344,720
		TOTAL SHORT-TERM FIXED INCOME		20,344,720

U.S. EQUITY - 27.3%
	2,797,003	TIAA-CREF Equity Index Fund		55,716,309
		TOTAL U.S. EQUITY		55,716,309

		TOTAL AFFILIATED INVESTMENT COMPANIES		201,311,122
		(Cost $186,672,244)

		TOTAL INVESTMENTS - 98.5%		201,311,122
		(Cost $186,672,244)
		OTHER ASSETS & LIABILITIES, NET - 1.5%		3,120,566
		NET ASSETS - 100.0%	$	204,431,688

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2010 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2010 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 39.8%
	14,124,493	TIAA-CREF Bond Index Fund	$	149,013,404
		TOTAL FIXED INCOME		149,013,404

INFLATION-PROTECTED ASSETS - 9.1%
	3,049,261	TIAA-CREF Inflation-Linked Bond Fund		34,182,218
		TOTAL INFLATION-PROTECTED ASSETS		34,182,218

INTERNATIONAL EQUITY - 12.5%
	1,031,114	TIAA-CREF Emerging Markets Equity Index Fund		12,754,876
	1,691,757	TIAA-CREF International Equity Index Fund		34,088,905
		TOTAL INTERNATIONAL EQUITY		46,843,781

SHORT-TERM FIXED INCOME - 9.2%
	3,476,472	TIAA-CREF Short-Term Bond Index Fund		34,208,481
		TOTAL SHORT-TERM FIXED INCOME		34,208,481

U.S. EQUITY - 29.3%
	5,508,749	TIAA-CREF Equity Index Fund		109,734,288
		TOTAL U.S. EQUITY		109,734,288

		TOTAL AFFILIATED INVESTMENT COMPANIES		373,982,172
		(Cost $323,100,722)

		TOTAL INVESTMENTS - 99.9%		373,982,172
		(Cost $323,100,722)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		252,953
		NET ASSETS - 100.0%	$	374,235,125

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2015 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2015 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.6%(a)

FIXED INCOME - 38.8%
	26,862,278	TIAA-CREF Bond Index Fund	$	283,397,031
		TOTAL FIXED INCOME		283,397,031

INFLATION-PROTECTED ASSETS - 7.1%
	4,636,170	TIAA-CREF Inflation-Linked Bond Fund		51,971,464
		TOTAL INFLATION-PROTECTED ASSETS		51,971,464

INTERNATIONAL EQUITY - 13.9%
	2,241,066	TIAA-CREF Emerging Markets Equity Index Fund		27,721,984
	3,677,416	TIAA-CREF International Equity Index Fund		74,099,939
		TOTAL INTERNATIONAL EQUITY		101,821,923

SHORT-TERM FIXED INCOME - 7.1%
	5,285,199	TIAA-CREF Short-Term Bond Index Fund		52,006,362
		TOTAL SHORT-TERM FIXED INCOME		52,006,362

U.S. EQUITY - 32.7%
	11,998,130	TIAA-CREF Equity Index Fund		239,002,740
		TOTAL U.S. EQUITY		239,002,740

		TOTAL AFFILIATED INVESTMENT COMPANIES		728,199,520
		(Cost $625,835,927)

		TOTAL INVESTMENTS - 99.6%		728,199,520
		(Cost $625,835,927)
		OTHER ASSETS & LIABILITIES, NET - 0.4%		2,744,152
		NET ASSETS - 100.0%	$	730,943,672

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2020 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2020 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%(a)

FIXED INCOME - 36.4%
	57,057,328	TIAA-CREF Bond Index Fund	$	601,954,807
		TOTAL FIXED INCOME		601,954,807

INFLATION-PROTECTED ASSETS - 5.1%
	7,528,444	TIAA-CREF Inflation-Linked Bond Fund		84,393,855
		TOTAL INFLATION-PROTECTED ASSETS		84,393,855

INTERNATIONAL EQUITY - 15.9%
	5,775,897	TIAA-CREF Emerging Markets Equity Index Fund		71,447,844
	9,477,586	TIAA-CREF International Equity Index Fund		190,973,357
		TOTAL INTERNATIONAL EQUITY		262,421,201

SHORT-TERM FIXED INCOME - 5.1%
	8,583,214	TIAA-CREF Short-Term Bond Index Fund		84,458,827
		TOTAL SHORT-TERM FIXED INCOME		84,458,827

U.S. EQUITY - 37.3%
	30,895,772	TIAA-CREF Equity Index Fund		615,443,777
		TOTAL U.S. EQUITY		615,443,777

		TOTAL AFFILIATED INVESTMENT COMPANIES		1,648,672,467
		(Cost $1,445,614,118)

		TOTAL INVESTMENTS - 99.8%		1,648,672,467
		(Cost $1,445,614,118)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		3,989,594
		NET ASSETS - 100.0%	$	1,652,662,061

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2025 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2025 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.5%(a)

FIXED INCOME - 32.4%
	60,064,276	TIAA-CREF Bond Index Fund	$	633,678,115
		TOTAL FIXED INCOME		633,678,115

INFLATION-PROTECTED ASSETS - 3.1%
	5,380,740	TIAA-CREF Inflation-Linked Bond Fund		60,318,093
		TOTAL INFLATION-PROTECTED ASSETS		60,318,093

INTERNATIONAL EQUITY - 18.2%
	7,862,858	TIAA-CREF Emerging Markets Equity Index Fund		97,263,553
	12,894,905	TIAA-CREF International Equity Index Fund		259,832,345
		TOTAL INTERNATIONAL EQUITY		357,095,898

SHORT-TERM FIXED INCOME - 3.1%
	6,134,553	TIAA-CREF Short-Term Bond Index Fund		60,363,998
		TOTAL SHORT-TERM FIXED INCOME		60,363,998

U.S. EQUITY - 42.7%
	42,008,556	TIAA-CREF Equity Index Fund		836,810,430
		TOTAL U.S. EQUITY		836,810,430

		TOTAL AFFILIATED INVESTMENT COMPANIES		1,948,266,534
		(Cost $1,703,252,839)

		TOTAL INVESTMENTS - 99.5%		1,948,266,534
		(Cost $1,703,252,839)
		OTHER ASSETS & LIABILITIES, NET - 0.5%		9,668,961
		NET ASSETS - 100.0%	$	1,957,935,495

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2030 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2030 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.6%(a)

FIXED INCOME - 28.4%
	54,454,194	TIAA-CREF Bond Index Fund	$	574,491,746
		TOTAL FIXED INCOME		574,491,746

INFLATION-PROTECTED ASSETS - 1.1%
	1,926,150	TIAA-CREF Inflation-Linked Bond Fund		21,592,140
		TOTAL INFLATION-PROTECTED ASSETS		21,592,140

INTERNATIONAL EQUITY - 20.6%
	9,206,247	TIAA-CREF Emerging Markets Equity Index Fund		113,881,277
	15,095,949	TIAA-CREF International Equity Index Fund		304,183,374
		TOTAL INTERNATIONAL EQUITY		418,064,651

SHORT-TERM FIXED INCOME - 1.1%
	2,194,046	TIAA-CREF Short-Term Bond Index Fund		21,589,412
		TOTAL SHORT-TERM FIXED INCOME		21,589,412

U.S. EQUITY - 48.4%
	49,138,686	TIAA-CREF Equity Index Fund		978,842,632
		TOTAL U.S. EQUITY		978,842,632

		TOTAL AFFILIATED INVESTMENT COMPANIES		2,014,580,581
		(Cost $1,724,335,822)

		TOTAL INVESTMENTS - 99.6%		2,014,580,581
		(Cost $1,724,335,822)
		OTHER ASSETS & LIABILITIES, NET - 0.4%		8,346,416
		NET ASSETS - 100.0%	$	2,022,926,997

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2035 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2035 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.6%(a)

FIXED INCOME - 22.5%
	40,243,921	TIAA-CREF Bond Index Fund	$	424,573,362
		TOTAL FIXED INCOME		424,573,362

INTERNATIONAL EQUITY - 23.1%
	9,600,015	TIAA-CREF Emerging Markets Equity Index Fund		118,752,182
	15,740,417	TIAA-CREF International Equity Index Fund		317,169,407
		TOTAL INTERNATIONAL EQUITY		435,921,589

U.S. EQUITY - 54.0%
	51,211,451	TIAA-CREF Equity Index Fund		1,020,132,105
		TOTAL U.S. EQUITY		1,020,132,105

		TOTAL AFFILIATED INVESTMENT COMPANIES		1,880,627,056
		(Cost $1,571,887,916)

		TOTAL INVESTMENTS - 99.6%		1,880,627,056
		(Cost $1,571,887,916)
		OTHER ASSETS & LIABILITIES, NET - 0.4%		7,643,362
		NET ASSETS - 100.0%	$	1,888,270,418

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2040 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2040 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%(a)

FIXED INCOME - 14.4%
	27,804,302	TIAA-CREF Bond Index Fund	$	293,335,385
		TOTAL FIXED INCOME		293,335,385

INTERNATIONAL EQUITY - 25.5%
	11,425,837	TIAA-CREF Emerging Markets Equity Index Fund		141,337,604
	18,734,915	TIAA-CREF International Equity Index Fund		377,508,531
		TOTAL INTERNATIONAL EQUITY		518,846,135

U.S. EQUITY - 59.8%
	60,983,927	TIAA-CREF Equity Index Fund		1,214,799,830
		TOTAL U.S. EQUITY		1,214,799,830

		TOTAL AFFILIATED INVESTMENT COMPANIES		2,026,981,350
		(Cost $1,643,221,067)

		TOTAL INVESTMENTS - 99.7%		2,026,981,350
		(Cost $1,643,221,067)
		OTHER ASSETS & LIABILITIES, NET - 0.3%		5,650,795
		NET ASSETS - 100.0%	$	2,032,632,145

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2045 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2045 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%(a)

FIXED INCOME - 9.6%
	11,499,613	TIAA-CREF Bond Index Fund	$	121,320,918
		TOTAL FIXED INCOME		121,320,918

INTERNATIONAL EQUITY - 27.0%
	7,547,273	TIAA-CREF Emerging Markets Equity Index Fund		93,359,769
	12,372,804	TIAA-CREF International Equity Index Fund		249,311,996
		TOTAL INTERNATIONAL EQUITY		342,671,765

U.S. EQUITY - 63.1%
	40,219,324	TIAA-CREF Equity Index Fund		801,168,932
		TOTAL U.S. EQUITY		801,168,932

		TOTAL AFFILIATED INVESTMENT COMPANIES		1,265,161,615
		(Cost $1,054,835,374)

		TOTAL INVESTMENTS - 99.7%		1,265,161,615
		(Cost $1,054,835,374)
		OTHER ASSETS & LIABILITIES, NET - 0.3%		3,783,591
		NET ASSETS - 100.0%	$	1,268,945,206

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2050 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2050 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.5%(a)

FIXED INCOME - 8.3%
	7,180,081	TIAA-CREF Bond Index Fund	$	75,749,850
		TOTAL FIXED INCOME		75,749,850

INTERNATIONAL EQUITY - 27.3%
	5,502,669	TIAA-CREF Emerging Markets Equity Index Fund		68,068,013
	9,021,945	TIAA-CREF International Equity Index Fund		181,792,187
		TOTAL INTERNATIONAL EQUITY		249,860,200

U.S. EQUITY - 63.9%
	29,348,230	TIAA-CREF Equity Index Fund		584,616,741
		TOTAL U.S. EQUITY		584,616,741

		TOTAL AFFILIATED INVESTMENT COMPANIES		910,226,791
		(Cost $762,351,793)

		TOTAL INVESTMENTS - 99.5%		910,226,791
		(Cost $762,351,793)
		OTHER ASSETS & LIABILITIES, NET - 0.5%		4,711,218
		NET ASSETS - 100.0%	$	914,938,009

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2055 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2055 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.4%(a)

FIXED INCOME - 7.0%
	2,097,839	TIAA-CREF Bond Index Fund	$	22,132,202
		TOTAL FIXED INCOME		22,132,202

INTERNATIONAL EQUITY - 27.7%
	1,929,986	TIAA-CREF Emerging Markets Equity Index Fund		23,873,933
	3,163,533	TIAA-CREF International Equity Index Fund		63,745,181
		TOTAL INTERNATIONAL EQUITY		87,619,114

U.S. EQUITY - 64.7%
	10,275,012	TIAA-CREF Equity Index Fund		204,678,229
		TOTAL U.S. EQUITY		204,678,229

		TOTAL AFFILIATED INVESTMENT COMPANIES		314,429,545
		(Cost $272,655,814)

		TOTAL INVESTMENTS - 99.4%		314,429,545
		(Cost $272,655,814)
		OTHER ASSETS & LIABILITIES, NET - 0.6%		1,872,754
		NET ASSETS - 100.0%	$	316,302,299

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

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2060 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2060 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.4%(a)

FIXED INCOME - 5.7%
	362,878	TIAA-CREF Bond Index Fund	$	3,828,366
		TOTAL FIXED INCOME		3,828,366

INTERNATIONAL EQUITY - 28.1%
	414,658	TIAA-CREF Emerging Markets Equity Index Fund		5,129,317
	679,602	TIAA-CREF International Equity Index Fund		13,693,976
		TOTAL INTERNATIONAL EQUITY		18,823,293

U.S. EQUITY - 65.6%
	2,205,874	TIAA-CREF Equity Index Fund		43,941,003
		TOTAL U.S. EQUITY		43,941,003

		TOTAL AFFILIATED INVESTMENT COMPANIES		66,592,662
		(Cost $60,998,302)

		TOTAL INVESTMENTS - 99.4%		66,592,662
		(Cost $60,998,302)
		OTHER ASSETS & LIABILITIES, NET - 0.6%		414,276
		NET ASSETS - 100.0%	$	67,006,938

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

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

Note 1—organization and significant accounting policies

The Lifecycle Index Funds (collectively the “Funds,” each individually referred to as a “Fund”) are a sub-family of mutual funds offered by the TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, that is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company.

Each Fund is a “fund of funds” that diversifies its assets by investing in Institutional Class shares of other funds of the Trust and potentially other investment pools or investment products. The Funds offer their shares, without a sales load, through their principal underwriter, Teachers Personal Investors Services, Inc. (“TPIS”), which is a wholly owned indirect subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”). Teachers Advisors, LLC (“Advisors”), a wholly owned indirect subsidiary of TIAA, is registered with the Commission as an investment adviser and provides investment management services for the Funds. The Funds offer Institutional, Advisor, Premier and Retirement Classes of shares. Each class differs by the allocation of class-specific expenses and voting rights in matters affecting a single class.

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.

Note 2—valuation of investments

•	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)

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

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

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

Transfers between levels are recognized at the end of the reporting period. For the period ended February 28, 2018, there were no transfers between levels by the Funds.

As of February 28, 2018, all of the investments in the Funds were valued based on Level 1 inputs.

Note 3—investment adviser and affiliates

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

Issue	Value at 5/31/17		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 2/28/18
Lifecycle Index Retirement Income Fund
TIAA-CREF Funds:
Bond Index	$	50,858	$	39,771	$	7,249	$	(61	)	$	(2,128	)	$	1,193	$	81,166
Emerging Markets Equity Index		3,897		2,718		934		(4	)		792			111		6,469
Equity Index		35,673		23,371		7,916		201			4,642			842		55,716
Inflation-Linked Bond		12,676		10,075		1,926		(19	)		(477	)		353		20,329
International Equity Index		11,576		7,653		2,688		(25	)		770			435		17,286
Short-Term Bond Index		12,681		9,897		1,982		(19	)		(232	)		176		20,345
	$	127,361	$	93,485	$	22,695	$	73		$	3,367		$	3,110	$	201,311
Lifecycle Index 2010 Fund
TIAA-CREF Funds:
Bond Index	$	115,968	$	48,566	$	11,332	$	(130	)	$	(4,011	)	$	2,409	$	149,013
Emerging Markets Equity Index		9,731		3,512		2,297		41			1,768			233		12,755
Equity Index		89,065		27,966		17,863		674			10,424			1,752		109,734
Inflation-Linked Bond		25,714		11,828		2,493		(40	)		(827	)		619		34,182
International Equity Index		28,901		9,151		5,838		86			1,789			905		34,089
Short-Term Bond Index		25,715		11,476		2,537		(26	)		(419	)		321		34,209
	$	295,094	$	112,499	$	42,360	$	605		$	8,724		$	6,239	$	373,982

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

Issue	Value at 5/31/17		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 2/28/18
Lifecycle Index 2015 Fund
TIAA-CREF Funds:
Bond Index	$	216,562	$	86,251	$	11,406	$	(137	)	$	(7,781	)	$	4,570	$	283,397
Emerging Markets Equity Index		20,797		7,018		4,020		50			3,877			517		27,722
Equity Index		190,358		53,971		28,220		1,437			22,635			3,881		239,003
Inflation-Linked Bond		38,039		17,457		2,195		(48	)		(1,281	)		954		51,972
International Equity Index		61,768		18,090		9,808		77			3,973			2,005		74,100
Short-Term Bond Index		38,052		17,152		2,525		(26	)		(647	)		484		52,006
	$	565,576	$	199,939	$	58,174	$	1,353		$	20,776		$	12,411	$	728,200
Lifecycle Index 2020 Fund
TIAA-CREF Funds:
Bond Index	$	407,598	$	223,225	$	12,071	$	(319	)	$	(16,289	)	$	9,141	$	601,955
Emerging Markets Equity Index		48,317		20,102		6,374		34			9,369			1,297		71,448
Equity Index		442,326		162,631		44,436		3,083			54,795			9,738		615,443
Inflation-Linked Bond		54,479		33,508		1,480		(79	)		(2,034	)		1,498		84,394
International Equity Index		143,499		53,402		15,295		45			9,322			5,031		190,973
Short-Term Bond Index		54,493		32,789		1,770		(30	)		(1,023	)		740		84,459
	$	1,150,712	$	525,657	$	81,426	$	2,734		$	54,140		$	27,445	$	1,648,672
Lifecycle Index 2025 Fund
TIAA-CREF Funds:
Bond Index	$	394,477	$	263,573	$	6,918	$	(115	)	$	(17,145	)	$	9,314	$	633,678
Emerging Markets Equity Index		60,382		30,719		6,163		18			12,308			1,711		97,264
Equity Index		552,836		253,895		41,391		4,021			71,350			12,849		836,811
Inflation-Linked Bond		34,417		27,745		386		(27	)		(1,431	)		1,030		60,318
International Equity Index		179,335		83,144		14,753		33			12,073			6,638		259,832
Short-Term Bond Index		34,428		27,245		584		(10	)		(715	)		503		60,364
	$	1,255,875	$	686,321	$	70,195	$	3,920		$	76,440		$	32,045	$	1,948,267
Lifecycle Index 2030 Fund
TIAA-CREF Funds:
Bond Index	$	359,362	$	238,054	$	7,245	$	(160	)	$	(15,345	)	$	8,382	$	574,492
Emerging Markets Equity Index		70,901		34,984		6,211		(17	)		14,224			1,980		113,881
Equity Index		649,649		285,810		39,247		4,541			82,603			14,869		978,843
Inflation-Linked Bond		9,872		12,335		123		(4	)		(488	)		344		21,592
International Equity Index		210,575		94,351		14,558		(16	)		13,831			7,682		304,183
Short-Term Bond Index		9,875		12,092		135		(2	)		(240	)		163		21,590
	$	1,310,234	$	677,626	$	67,519	$	4,342		$	94,585		$	33,420	$	2,014,581
Lifecycle Index 2035 Fund
TIAA-CREF Funds:
Bond Index	$	263,366	$	177,466	$	4,702	$	(101	)	$	(11,328	)	$	6,144	$	424,573
Emerging Markets Equity Index		75,708		34,409		6,312		(26	)		14,973			2,082		118,752
Equity Index		693,591		268,250		28,168		4,646			86,558			15,634		1,020,132
International Equity Index		224,849		90,128		12,303		(48	)		14,544			8,077		317,170
	$	1,257,514	$	570,253	$	51,485	$	4,471		$	104,747		$	31,937	$	1,880,627
Lifecycle Index 2040 Fund
TIAA-CREF Funds:
Bond Index	$	177,045	$	125,914	$	1,732	$	5		$	(7,810	)	$	4,194	$	293,335
Emerging Markets Equity Index		90,497		37,524		4,403		(37	)		17,757			2,449		141,338
Equity Index		829,102		301,635		18,516		5,534			102,628			18,394		1,214,800
International Equity Index		268,771		100,861		9,207		(46	)		17,129			9,503		377,508
	$	1,365,415	$	565,934	$	33,858	$	5,456		$	129,704		$	34,540	$	2,026,981

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

Issue	Value at 5/31/17		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 2/28/18
Lifecycle Index 2045 Fund
TIAA-CREF Funds:
Bond Index	$	74,812	$	51,371	$	1,581	$	(38	)	$	(3,207	)	$	1,758	$	121,321
Emerging Markets Equity Index		56,322		28,502		2,790		(24	)		11,350			1,599		93,360
Equity Index		516,210		231,269		11,799		3,635			65,499			12,010		801,169
International Equity Index		167,272		76,010		4,744		(38	)		10,812			6,205		249,312
	$	814,616	$	387,152	$	20,914	$	3,535		$	84,454		$	21,572	$	1,265,162
Lifecycle Index 2050 Fund
TIAA-CREF Funds:
Bond Index	$	45,683	$	33,346	$	1,244	$	(37	)	$	(1,976	)	$	1,091	$	75,750
Emerging Markets Equity Index		40,284		21,624		2,018		(41	)		8,219			1,157		68,068
Equity Index		369,490		175,489		7,686		2,604			47,356			8,686		584,617
International Equity Index		119,640		57,788		3,381		(41	)		7,786			4,488		181,792
	$	575,097	$	288,247	$	14,329	$	2,485		$	61,385		$	15,422	$	910,227
Lifecycle Index 2055 Fund
TIAA-CREF Funds:
Bond Index	$	11,550	$	11,436	$	269	$	(7	)	$	(572	)	$	300	$	22,132
Emerging Markets Equity Index		12,267		9,438		474		(4	)		2,647			393		23,874
Equity Index		112,378		79,476		2,441		886			15,276			2,952		204,679
International Equity Index		36,431		25,971		1,066		(10	)		2,419			1,525		63,745
	$	172,626	$	126,321	$	4,250	$	865		$	19,770		$	5,170	$	314,430
Lifecycle Index 2060 Fund
TIAA-CREF Funds:
Bond Index	$	1,411	$	2,651	$	138	$	(2	)	$	(92	)	$	44	$	3,829
Emerging Markets Equity Index		1,862		3,090		272		(5	)		454			75		5,129
Equity Index		17,076		26,096		1,767		168			2,539			565		43,941
International Equity Index		5,529		8,388		567		(5	)		349			292		13,694
	$	25,878	$	40,225	$	2,744	$	156		$	3,250		$	976	$	66,593

Note 4—investments

Fund	Book cost		Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Lifecycle Index Retirement Income	$	186,672	$	16,533	$	(1,894	)	$	14,639
Lifecycle Index 2010		323,101		53,450		(2,569	)		50,881
Lifecycle Index 2015		625,836		108,304		(5,940	)		102,364
Lifecycle Index 2020		1,445,614		218,722		(15,664	)		203,058
Lifecycle Index 2025		1,703,253		261,389		(16,375	)		245,014
Lifecycle Index 2030		1,724,336		304,178		(13,933	)		290,245
Lifecycle Index 2035		1,571,888		318,769		(10,030	)		308,739
Lifecycle Index 2040		1,643,221		390,401		(6,641	)		383,760
Lifecycle Index 2045		1,054,835		213,082		(2,755	)		210,327
Lifecycle Index 2050		762,352		149,551		(1,676	)		147,875
Lifecycle Index 2055		272,656		42,269		(495	)		41,774
Lifecycle Index 2060		60,998		5,679		(84	)		5,595

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Income Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 38.0%
	1,410,177	TIAA-CREF Bond Fund	$	14,327,398
	1,261,629	TIAA-CREF Bond Plus Fund		12,893,852
		TOTAL FIXED INCOME		27,221,250

INTERNATIONAL EQUITY - 7.1%
	75,203	TIAA-CREF Emerging Markets Equity Fund		974,625
	178,736	TIAA-CREF Enhanced International Equity Index Fund		1,469,206
	82,061	TIAA-CREF International Equity Fund		1,100,434
	66,528	TIAA-CREF International Opportunities Fund		898,791
	48,742	TIAA-CREF International Small-Cap Equity Fund		605,869
		TOTAL INTERNATIONAL EQUITY		5,048,925

SHORT-TERM FIXED INCOME - 40.2%
	2,804,925	TIAA-CREF Short-Term Bond Fund		28,750,477
		TOTAL SHORT-TERM FIXED INCOME		28,750,477

U.S. EQUITY - 14.6%
	85,193	TIAA-CREF Enhanced Large-Cap Growth Index Fund		1,204,627
	111,045	TIAA-CREF Enhanced Large-Cap Value Index Fund		1,138,213
	148,486	TIAA-CREF Growth & Income Fund		2,185,720
	119,581	TIAA-CREF Large-Cap Growth Fund		2,525,545
	123,634	TIAA-CREF Large-Cap Value Fund		2,341,628
	31,722	TIAA-CREF Small-Cap Equity Fund		599,862
	36,664	TIAA-CREF Small/Mid-Cap Equity Fund		442,533
		TOTAL U.S. EQUITY		10,438,128

		TOTAL AFFILIATED INVESTMENT COMPANIES		71,458,780
		(Cost $69,206,521)

		TOTAL INVESTMENTS - 99.9%		71,458,780
		(Cost $69,206,521)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		124,193
		NET ASSETS - 100.0%	$	71,582,973

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

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Conservative Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE CONSERVATIVE FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%(a)

FIXED INCOME - 38.2%
	2,189,790	TIAA-CREF Bond Fund	$	22,248,268
	6,095,793	TIAA-CREF Bond Plus Fund		62,299,007
		TOTAL FIXED INCOME		84,547,275

INTERNATIONAL EQUITY - 12.9%
	398,109	TIAA-CREF Emerging Markets Equity Fund		5,159,490
	893,835	TIAA-CREF Enhanced International Equity Index Fund		7,347,320
	508,303	TIAA-CREF International Equity Fund		6,816,344
	412,302	TIAA-CREF International Opportunities Fund		5,570,207
	301,685	TIAA-CREF International Small-Cap Equity Fund		3,749,945
		TOTAL INTERNATIONAL EQUITY		28,643,306

SHORT-TERM FIXED INCOME - 20.2%
	4,356,375	TIAA-CREF Short-Term Bond Fund		44,652,845
		TOTAL SHORT-TERM FIXED INCOME		44,652,845

U.S. EQUITY - 28.4%
	470,624	TIAA-CREF Enhanced Large-Cap Growth Index Fund		6,654,629
	608,703	TIAA-CREF Enhanced Large-Cap Value Index Fund		6,239,204
	920,215	TIAA-CREF Growth & Income Fund		13,545,565
	741,553	TIAA-CREF Large-Cap Growth Fund		15,661,599
	766,205	TIAA-CREF Large-Cap Value Fund		14,511,930
	185,812	TIAA-CREF Small-Cap Equity Fund		3,513,711
	227,473	TIAA-CREF Small/Mid-Cap Equity Fund		2,745,597
		TOTAL U.S. EQUITY		62,872,235

		TOTAL AFFILIATED INVESTMENT COMPANIES		220,715,661
		(Cost $206,774,080)

		TOTAL INVESTMENTS - 99.7%		220,715,661
		(Cost $206,774,080)
		OTHER ASSETS & LIABILITIES, NET - 0.3%		628,647
		NET ASSETS - 100.0%	$	221,344,308

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

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Moderate Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE MODERATE FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%(a)

FIXED INCOME - 38.4%
	12,159,899	TIAA-CREF Bond Plus Fund	$	124,274,164
		TOTAL FIXED INCOME		124,274,164

INTERNATIONAL EQUITY - 18.9%
	827,825	TIAA-CREF Emerging Markets Equity Fund		10,728,606
	1,813,417	TIAA-CREF Enhanced International Equity Index Fund		14,906,286
	1,120,791	TIAA-CREF International Equity Fund		15,029,811
	908,858	TIAA-CREF International Opportunities Fund		12,278,669
	665,570	TIAA-CREF International Small-Cap Equity Fund		8,273,033
		TOTAL INTERNATIONAL EQUITY		61,216,405

U.S. EQUITY - 42.5%
	996,225	TIAA-CREF Enhanced Large-Cap Growth Index Fund		14,086,618
	1,285,740	TIAA-CREF Enhanced Large-Cap Value Index Fund		13,178,838
	2,028,285	TIAA-CREF Growth & Income Fund		29,856,358
	1,635,226	TIAA-CREF Large-Cap Growth Fund		34,535,965
	1,690,348	TIAA-CREF Large-Cap Value Fund		32,015,196
	401,046	TIAA-CREF Small-Cap Equity Fund		7,583,775
	501,071	TIAA-CREF Small/Mid-Cap Equity Fund		6,047,926
		TOTAL U.S. EQUITY		137,304,676

		TOTAL AFFILIATED INVESTMENT COMPANIES		322,795,245
		(Cost $290,635,903)

		TOTAL INVESTMENTS - 99.8%		322,795,245
		(Cost $290,635,903)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		616,287
		NET ASSETS - 100.0%	$	323,411,532

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

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Growth Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE GROWTH FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 100.0%(a)

FIXED INCOME - 18.3%
	2,694,983	TIAA-CREF Bond Plus Fund	$	27,542,723
		TOTAL FIXED INCOME		27,542,723

INTERNATIONAL EQUITY - 25.0%
	500,114	TIAA-CREF Emerging Markets Equity Fund		6,481,484
	1,080,264	TIAA-CREF Enhanced International Equity Index Fund		8,879,768
	698,347	TIAA-CREF International Equity Fund		9,364,827
	566,512	TIAA-CREF International Opportunities Fund		7,653,582
	414,013	TIAA-CREF International Small-Cap Equity Fund		5,146,179
		TOTAL INTERNATIONAL EQUITY		37,525,840

U.S. EQUITY - 56.7%
	607,501	TIAA-CREF Enhanced Large-Cap Growth Index Fund		8,590,062
	782,486	TIAA-CREF Enhanced Large-Cap Value Index Fund		8,020,485
	1,264,405	TIAA-CREF Growth & Income Fund		18,612,048
	1,018,790	TIAA-CREF Large-Cap Growth Fund		21,516,845
	1,052,999	TIAA-CREF Large-Cap Value Fund		19,943,795
	247,311	TIAA-CREF Small-Cap Equity Fund		4,676,643
	312,504	TIAA-CREF Small/Mid-Cap Equity Fund		3,771,924
		TOTAL U.S. EQUITY		85,131,802

		TOTAL AFFILIATED INVESTMENT COMPANIES		150,200,365
		(Cost $129,469,943)

		TOTAL INVESTMENTS - 100.0%		150,200,365
		(Cost $129,469,943)
		OTHER ASSETS & LIABILITIES, NET - 0.0%		29,544
		NET ASSETS - 100.0%	$	150,229,909

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

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Aggressive Growth Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.6%(a)

INTERNATIONAL EQUITY - 29.8%
	404,054	TIAA-CREF Emerging Markets Equity Fund	$	5,236,544
	830,971	TIAA-CREF Enhanced International Equity Index Fund		6,830,579
	620,953	TIAA-CREF International Equity Fund		8,326,982
	503,496	TIAA-CREF International Opportunities Fund		6,802,228
	368,279	TIAA-CREF International Small-Cap Equity Fund		4,577,709
		TOTAL INTERNATIONAL EQUITY		31,774,042

U.S. EQUITY - 69.8%
	503,342	TIAA-CREF Enhanced Large-Cap Growth Index Fund		7,117,252
	645,793	TIAA-CREF Enhanced Large-Cap Value Index Fund		6,619,383
	1,119,803	TIAA-CREF Growth & Income Fund		16,483,507
	902,136	TIAA-CREF Large-Cap Growth Fund		19,053,119
	932,817	TIAA-CREF Large-Cap Value Fund		17,667,545
	217,876	TIAA-CREF Small-Cap Equity Fund		4,120,035
	276,656	TIAA-CREF Small/Mid-Cap Equity Fund		3,339,239
		TOTAL U.S. EQUITY		74,400,080

		TOTAL AFFILIATED INVESTMENT COMPANIES		106,174,122
		(Cost $88,329,618)

		TOTAL INVESTMENTS - 99.6%		106,174,122
		(Cost $88,329,618)
		OTHER ASSETS & LIABILITIES, NET - 0.4%		480,945
		NET ASSETS - 100.0%	$	106,655,067

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

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

Note 1—organization and significant accounting policies

The Lifestyle Funds (collectively the “Funds,” each individually referred to as a “Fund”) are a sub-family of mutual funds offered by the TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, that is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company.

Each Fund is a “fund of funds” that diversifies its assets by investing in Institutional Class shares of other funds of the Trust and potentially other investment pools or investment products. The Funds offer their shares, without a sales load, through their principal underwriter, Teachers Personal Investors Services, Inc. (“TPIS”), which is a wholly owned indirect subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”). Teachers Advisors, LLC (“Advisors”), a wholly owned indirect subsidiary of TIAA, is registered with the Commission as an investment adviser and provides investment management services for the Funds. The Funds offer Institutional, 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.

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.

Note 2—valuation of investments

•	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)

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

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

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

Transfers between levels are recognized at the end of the reporting period. For the period ended February 28, 2018, there were no transfers between levels by the Funds.

As of February 28, 2018, all of the investments in the Funds were valued based on Level 1 inputs.

Note 3—investment adviser and affiliates

Issue	Value at 5/31/17		Purchase cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 2/28/18
Lifestyle Income Fund
TIAA-CREF Funds:
Bond	$	13,129	$	2,761	$	1,209	$	(14	)	$	(332	)	$	301	$	14,327
Bond Plus		12,624		2,221		1,626		(11	)		(307	)		310		12,894
Emerging Markets Equity		736		339		210		53			84			6		975
Enhanced International Equity Index		1,061		530		178		7			49			36		1,469
Enhanced Large-Cap Growth Index		879		472		256		79			77			10		1,205
Enhanced Large-Cap Value Index		825		500		214		48			17			17		1,138
Growth & Income		2,044		381		452		121			170			18		2,186
High-Yield		26		—		26		3			(3	)		—		—
International Equity		1,079		225		315		63			62			12		1,100
International Opportunities		857		139		223		30			96			11		899
International Small-Cap Equity		559		138		133		28			34			15		606
Large-Cap Growth		2,342		484		664		186			266			11		2,526
Large-Cap Value		2,195		611		525		141			36			33		2,342
Short-Term Bond		26,232		5,275		2,461		1			(282	)		392		28,750
Small-Cap Equity		696		299		401		91			(23	)		5		600
Small/Mid-Cap Equity		408		103		105		27			28			4		442
	$	65,692	$	14,478	$	8,998	$	853		$	(28	)	$	1,181	$	71,459

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

Issue	Value at 5/31/17		Purchase cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 2/28/18
Lifestyle Conservative Fund
TIAA-CREF Funds:
Bond	$	17,862	$	5,664	$	727	$	(4	)	$	(535	)	$	450	$	22,248
Bond Plus		52,211		14,559		2,905		(7	)		(1,525	)		1,412		62,299
Emerging Markets Equity		3,646		1,491		579		210			544			35		5,159
Enhanced International Equity Index		5,293		2,108		369		1			314			194		7,347
Enhanced Large-Cap Growth Index		4,785		2,009		770		389			527			61		6,655
Enhanced Large-Cap Value Index		4,490		2,212		628		258			144			104		6,239
Growth & Income		11,123		2,623		1,478		672			1,086			103		13,546
High-Yield		72		2		73		7			(8	)		—		—
International Equity		5,871		1,358		1,074		268			480			73		6,816
International Opportunities		4,656		901		725		112			626			65		5,570
International Small-Cap Equity		3,044		898		425		150			208			95		3,750
Large-Cap Growth		12,745		2,925		2,191		897			1,831			69		15,662
Large-Cap Value		11,946		3,876		1,641		801			246			203		14,512
Short-Term Bond		35,740		10,815		1,446		15			(448	)		588		44,653
Small-Cap Equity		3,253		1,412		1,179		403			(32	)		28		3,514
Small/Mid-Cap Equity		2,221		649		337		160			169			27		2,746
	$	178,958	$	53,502	$	16,547	$	4,332		$	3,627		$	3,507	$	220,716
Lifestyle Moderate Fund
TIAA-CREF Funds:
Bond Plus	$	101,556	$	29,793	$	3,970	$	(2	)	$	(3,037	)	$	2,757	$	124,274
Emerging Markets Equity		7,683		2,542		764		380			1,211			75		10,728
Enhanced International Equity Index		11,146		3,522		416		(4	)		658			405		14,906
Enhanced Large-Cap Growth Index		10,398		3,547		1,203		767			1,202			133		14,087
Enhanced Large-Cap Value Index		9,771		3,879		813		526			335			228		13,179
Growth & Income		24,184		5,271		2,348		1,285			2,507			222		29,856
High-Yield		104		4		107		11			(12	)		—		—
International Equity		12,761		2,386		1,527		399			1,200			162		15,030
International Opportunities		10,146		1,605		1,062		133			1,457			142		12,279
International Small-Cap Equity		6,620		1,677		518		312			454			207		8,273
Large-Cap Growth		27,739		5,847		3,771		1,721			4,188			150		34,536
Large-Cap Value		25,981		7,815		2,444		1,635			583			440		32,015
Small-Cap Equity		6,689		2,531		1,685		758			15			60		7,584
Small/Mid-Cap Equity		4,828		1,278		506		295			408			58		6,048
	$	259,606	$	71,697	$	21,134	$	8,216		$	11,169		$	5,039	$	322,795
Lifestyle Growth Fund
TIAA-CREF Funds:
Bond Plus	$	20,448	$	9,588	$	1,795	$	(16	)	$	(668	)	$	589	$	27,543
Emerging Markets Equity		4,126		1,983		331		201			691			44		6,481
Enhanced International Equity Index		6,008		2,836		319		(4	)		359			235		8,880
Enhanced Large-Cap Growth Index		5,693		2,824		706		446			702			78		8,590
Enhanced Large-Cap Value Index		5,354		2,966		479		308			178			135		8,020
Growth & Income		13,255		4,748		987		701			1,517			127		18,612
High-Yield		43		1		44		4			(4	)		—		—
International Equity		6,957		2,427		813		182			725			96		9,365
International Opportunities		5,520		1,615		383		26			876			85		7,654
International Small-Cap Equity		3,620		1,486		225		168			258			123		5,146
Large-Cap Growth		15,207		5,352		1,800		904			2,560			89		21,517
Large-Cap Value		14,239		6,524		1,141		954			296			263		19,944
Small-Cap Equity		3,560		1,827		723		429			2			34		4,676
Small/Mid-Cap Equity		2,647		1,147		271		169			231			34		3,772
	$	106,677	$	45,324	$	10,017	$	4,472		$	7,723		$	1,932	$	150,200

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

Issue	Value at 5/31/17		Purchase cost		Sales proceeds		Realized gain (loss)		Change in unrealized appreciation (depreciation)			Dividend income		Value at 2/28/18
Lifestyle Aggressive Growth Fund
TIAA-CREF Funds:
Emerging Markets Equity	$	3,119	$	1,915	$	346	$	161	$	539		$	35	$	5,236
Enhanced International Equity Index		4,558		2,326		319		2		264			185		6,831
Enhanced Large-Cap Growth Index		4,430		2,573		506		378		550			66		7,117
Enhanced Large-Cap Value Index		4,157		2,633		296		264		117			112		6,619
Growth & Income		10,540		5,308		643		589		1,216			104		16,484
International Equity		5,558		2,725		573		177		535			81		8,327
International Opportunities		4,408		2,013		348		30		699			72		6,802
International Small-Cap Equity		2,884		1,691		201		138		202			104		4,578
Large-Cap Growth		12,094		5,845		1,148		771		2,089			76		19,053
Large-Cap Value		11,327		6,725		566		818		149			222		17,668
Small-Cap Equity		2,782		1,848		496		352		(16	)		29		4,120
Small/Mid-Cap Equity		2,106		1,194		150		144		173			29		3,339
	$	67,963	$	36,796	$	5,592	$	3,824	$	6,517		$	1,115	$	106,174

^	Some amounts represent less than $1,000.

Note 4—investments

Fund	Book cost		Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Lifestyle Income	$	69,207	$	3,228	$	(976	)	$	2,252
Lifestyle Conservative		206,774		16,732		(2,790	)		13,942
Lifestyle Moderate		290,636		35,439		(3,280	)		32,159
Lifestyle Growth		129,470		21,392		(662	)		20,730
Lifestyle Aggressive Growth		88,330		17,845		—			17,845

TIAA-CREF FUNDS – Managed Allocation Fund

TIAA-CREF FUNDS
MANAGED ALLOCATION FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 38.5%
	32,795,172	TIAA-CREF Bond Plus Fund	$	335,166,663
		TOTAL FIXED INCOME		335,166,663

INTERNATIONAL EQUITY - 18.9%
	2,230,276	TIAA-CREF Emerging Markets Equity Fund		28,904,381
	5,705,349	TIAA-CREF Enhanced International Equity Index Fund		46,897,968
	2,516,246	TIAA-CREF International Equity Fund		33,742,861
	2,449,888	TIAA-CREF International Opportunities Fund		33,097,989
	1,794,247	TIAA-CREF International Small-Cap Equity Fund		22,302,485
		TOTAL INTERNATIONAL EQUITY		164,945,684

U.S. EQUITY - 42.5%
	4,534,721	TIAA-CREF Enhanced Large-Cap Growth Index Fund		64,120,951
	5,829,989	TIAA-CREF Enhanced Large-Cap Value Index Fund		59,757,391
	5,129,226	TIAA-CREF Growth & Income Fund		75,502,207
	3,306,735	TIAA-CREF Large-Cap Growth Fund		69,838,247
	3,416,154	TIAA-CREF Large-Cap Value Fund		64,701,966
	1,103,267	TIAA-CREF Small-Cap Equity Fund		20,862,777
	1,267,258	TIAA-CREF Small/Mid-Cap Equity Fund		15,295,809
		TOTAL U.S. EQUITY		370,079,348

		TOTAL AFFILIATED INVESTMENT COMPANIES		870,191,695
		(Cost $717,672,359)

		TOTAL INVESTMENTS - 99.9%		870,191,695
		(Cost $717,672,359)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		1,138,260
		NET ASSETS - 100.0%	$	871,329,955

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

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

Note 1—organization and significant accounting policies

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

The Fund is a “fund of funds” that diversifies its assets by investing in Institutional Class shares of other funds of the Trust and potentially other investment pools or investment products. The Fund offers its shares, without a sales load, through its principal underwriter, Teachers Personal Investors Services, Inc. (“TPIS”), which is a wholly owned indirect subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”). Teachers Advisors, LLC (“Advisors”), a wholly owned indirect subsidiary of TIAA, is registered with the Commission as an investment adviser and provides investment management services for the Fund. The Fund offers three share classes: Institutional, Retirement and Retail Classes of shares. Each class differs by the allocation of class-specific expenses and voting rights in matters affecting a single class.

The accompanying schedule of investments was prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) which may require the use of estimates made by management. Actual results may differ from those estimates. The Fund is an investment company and follows 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 Fund.

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

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

New rule issuances: In October 2016, the Commission issued Final Rule Release No. 33-10231, Investment Company Reporting Modernization. This final rule modernizes investment company reporting by requiring the filing of new Forms N-PORT and N-CEN, and amends Regulation S-X disclosures related to derivatives and other disclosures in the financial statements and other filings. The requirements of this final rule in relation to Form N-CEN must be complied with by June 1, 2018. In December 2017, the Commission issued Temporary Final Rule Release No. 33-10442, which delayed the filing requirements related to Form N-PORT from June 1, 2018 to April 1, 2019, but still requires the Fund to maintain the data that would have been filed on Form N-PORT during the deferral period. Management is currently assessing the impact of Forms N-PORT and N-CEN on the Fund’s various filings. On August 1, 2017, the Fund implemented amendments to Regulation S-X related to derivatives and other disclosures in the financial statements and other filings. The amended S-X disclosures required under this rule did not have an impact on net assets or results of operations but resulted in new disclosures in the schedule of investments for certain investment types.

In October 2016, the Commission issued Final Rule Release No. 33-10233, Investment Company Liquidity Risk Management Programs. This final rule requires funds to establish a liquidity risk management program and enhances disclosures regarding fund’s liquidity. The requirements of this final rule, in relation to the implementation of the liquidity risk management program and the 15% illiquid investment limit, must be adopted by December 1, 2018. In February 2018, the Commission issued Release No. IC-33010, which delayed the compliance requirements related to liquidity classification, highly liquid investment minimums, and board approval of the liquidity risk management programs from December 1, 2018 to June 1, 2019. Management is currently assessing the impact of this rule to the Fund’s financial statements and other filings.

Note 2—valuation of investments

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

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

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

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

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

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

Transfers between levels are recognized at the end of the reporting period. For the period ended February 28, 2018, there were no transfers between levels by the Fund.

As of February 28, 2018, all of the investments in the Fund were valued based on Level 1 inputs.

Note 3—investment adviser and affiliates

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

Issue	Value at 5/31/17		Purchase cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 2/28/18
Managed Allocation Fund
TIAA-CREF Funds:
Bond Plus	$	318,599	$	40,294	$	15,279	$	(10	)	$	(8,252	)	$	7,938	$	335,167
Emerging Markets Equity		24,049		4,329		3,214		1,127			3,524			211		28,904
Enhanced International Equity Index		41,675		5,116		2,303		(96	)		2,506			1,348		46,898
Enhanced Large-Cap Growth Index		57,049		7,686		7,431		4,348			5,543			654		64,121
Enhanced Large-Cap Value Index		53,608		9,406		5,273		3,089			1,483			1,121		59,757
Growth & Income		71,147		3,909		7,026		3,846			6,377			614		75,502
High-Yield		325		4		327		38			(40	)		1		—
International Equity		33,318		2,716		5,781		1,560			2,373			378		33,743
International Opportunities		31,834		1,215		4,649		851			3,847			400		33,098
International Small-Cap Equity		20,790		2,006		2,027		893			1,310			679		22,303
Large-Cap Growth		65,341		4,801		10,491		4,748			7,945			316		69,838
Large-Cap Value		61,159		8,811		6,952		3,920			1,037			926		64,702
Small-Cap Equity		21,401		4,544		5,364		2,639			(290	)		170		20,863
Small/Mid-Cap Equity		14,205		1,552		1,739		979			1,065			56		15,296
	$	814,500	$	96,389	$	77,856	$	27,932		$	28,428		$	14,812	$	870,192

Note 4—investments

	Book cost				Gross unrealized appreciation				Gross unrealized (depreciation)				Net unrealized appreciation (depreciation)
	$	717,672			$	154,864			$	(2,345	)		$	152,519

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: April 12, 2018	By:	/s/ Bradley Finkle
		Bradley Finkle
		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: April 12, 2018	By:	/s/ Bradley Finkle
		Bradley Finkle
		Principal Executive Officer and President
		(principal executive officer)

Dated: April 12, 2018	By:	/s/ E. Scott Wickerham
		E. Scott Wickerham
		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