N-Q 1 c92042_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)

Terry H. Lin, Esq.
TIAA-CREF Funds
730 Third Avenue

New York, New York 10017-3206

(Name and address of agent for service)

Registrant’s telephone number, including area code: 212-490-9000

Date of fiscal year end: May 31

Date of reporting period: August 31, 2018

Item 1. Schedule of Investments.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle Retirement Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE RETIREMENT INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.6%^a

DIRECT REAL ESTATE - 3.8%
	1,899,870	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-7/30/18; cost $20,057,719)	$	21,126,555
			TOTAL DIRECT REAL ESTATE		21,126,555

FIXED INCOME - 38.5%
	11,220,455		TIAA-CREF Bond Fund		112,989,983
	7,203,131		TIAA-CREF Bond Plus Fund		73,039,744
	1,284,438		TIAA-CREF Emerging Markets Debt Fund		11,970,960
	1,016,411		TIAA-CREF High-Yield Fund		9,798,198
	960,609		TIAA-CREF International Bond Fund		9,461,999
			TOTAL FIXED INCOME		217,260,884

INFLATION-PROTECTED ASSETS - 9.9%
	4,967,415		TIAA-CREF Inflation-Linked Bond Fund		56,131,785
			TOTAL INFLATION-PROTECTED ASSETS		56,131,785

INTERNATIONAL EQUITY - 11.2%
	1,004,492		TIAA-CREF Emerging Markets Equity Fund		11,129,769
	1,067,691		TIAA-CREF International Equity Fund		13,239,368
	958,617		TIAA-CREF International Opportunities Fund		13,008,431
	2,136,803		TIAA-CREF Quant International Equity Fund		17,051,686
	742,994		TIAA-CREF Quant International Small-Cap Equity Fund		8,589,015
			TOTAL INTERNATIONAL EQUITY		63,018,269

SHORT-TERM FIXED INCOME - 10.6%
	5,850,245		TIAA-CREF Short-Term Bond Fund		59,730,998
			TOTAL SHORT-TERM FIXED INCOME		59,730,998

U.S. EQUITY - 25.6%
	1,886,314		TIAA-CREF Growth & Income Fund		29,916,948
	1,134,930		TIAA-CREF Large-Cap Growth Fund		26,704,908
	1,343,773		TIAA-CREF Large-Cap Value Fund		26,405,136
	1,518,760		TIAA-CREF Quant Large-Cap Growth Fund		23,738,220
	2,207,190		TIAA-CREF Quant Large-Cap Value Fund		23,484,505
	388,426		TIAA-CREF Quant Small-Cap Equity Fund		8,289,007
	438,222		TIAA-CREF Quant Small/Mid-Cap Equity Fund		6,139,491
			TOTAL U.S. EQUITY		144,678,215

			TOTAL AFFILIATED INVESTMENT COMPANIES		561,946,706
			(Cost $507,108,851)

			TOTAL INVESTMENTS - 99.6%		561,946,706
			(Cost $507,108,851)
			OTHER ASSETS & LIABILITIES, NET - 0.4%		2,169,351
			NET ASSETS - 100.0%	$	564,116,057

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 8/31/18, the total value of this security amounted to $21,126,555 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2010 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2010 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 3.8%
	4,238,723	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-6/29/18; cost $44,423,950)	$	47,134,595
			TOTAL DIRECT REAL ESTATE		47,134,595

FIXED INCOME - 38.2%
	24,771,962		TIAA-CREF Bond Fund		249,453,658
	15,903,603		TIAA-CREF Bond Plus Fund		161,262,537
	2,838,289		TIAA-CREF Emerging Markets Debt Fund		26,452,850
	2,238,119		TIAA-CREF High-Yield Fund		21,575,469
	2,116,107		TIAA-CREF International Bond Fund		20,843,650
			TOTAL FIXED INCOME		479,588,164

INFLATION-PROTECTED ASSETS - 9.2%
	10,245,977		TIAA-CREF Inflation-Linked Bond Fund		115,779,537
			TOTAL INFLATION-PROTECTED ASSETS		115,779,537

INTERNATIONAL EQUITY - 11.7%
	2,328,885		TIAA-CREF Emerging Markets Equity Fund		25,804,046
	2,498,865		TIAA-CREF International Equity Fund		30,985,922
	2,246,345		TIAA-CREF International Opportunities Fund		30,482,908
	4,992,696		TIAA-CREF Quant International Equity Fund		39,841,715
	1,743,656		TIAA-CREF Quant International Small-Cap Equity Fund		20,156,659
			TOTAL INTERNATIONAL EQUITY		147,271,250

SHORT-TERM FIXED INCOME - 9.8%
	12,114,094		TIAA-CREF Short-Term Bond Fund		123,684,896
			TOTAL SHORT-TERM FIXED INCOME		123,684,896

U.S. EQUITY - 27.0%
	4,419,345		TIAA-CREF Growth & Income Fund		70,090,819
	2,661,703		TIAA-CREF Large-Cap Growth Fund		62,629,869
	3,150,812		TIAA-CREF Large-Cap Value Fund		61,913,464
	3,558,551		TIAA-CREF Quant Large-Cap Growth Fund		55,620,151
	5,171,762		TIAA-CREF Quant Large-Cap Value Fund		55,027,548
	910,455		TIAA-CREF Quant Small-Cap Equity Fund		19,429,116
	1,026,354		TIAA-CREF Quant Small/Mid-Cap Equity Fund		14,379,219
			TOTAL U.S. EQUITY		339,090,186

			TOTAL AFFILIATED INVESTMENT COMPANIES		1,252,548,628
			(Cost $1,065,318,813)

			TOTAL INVESTMENTS - 99.7%		1,252,548,628
			(Cost $1,065,318,813)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		3,776,301
			NET ASSETS - 100.0%	$	1,256,324,929


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 8/31/18, the total value of this security amounted to $47,134,595 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2015 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2015 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 3.8%
	6,525,305	b,c	TIAA-CREF Real Property Fund LP (purchased 11/28/16-6/26/18; cost $68,948,985)	$	72,561,394
			TOTAL DIRECT REAL ESTATE		72,561,394

FIXED INCOME - 37.1%
	37,127,278		TIAA-CREF Bond Fund		373,871,688
	23,868,517		TIAA-CREF Bond Plus Fund		242,026,766
	4,258,673		TIAA-CREF Emerging Markets Debt Fund		39,690,830
	3,355,662		TIAA-CREF High-Yield Fund		32,348,577
	3,155,181		TIAA-CREF International Bond Fund		31,078,532
			TOTAL FIXED INCOME		719,016,393

INFLATION-PROTECTED ASSETS - 7.2%
	12,373,367		TIAA-CREF Inflation-Linked Bond Fund		139,819,051
			TOTAL INFLATION-PROTECTED ASSETS		139,819,051

INTERNATIONAL EQUITY - 13.2%
	3,994,879		TIAA-CREF Emerging Markets Equity Fund		44,263,258
	4,354,947		TIAA-CREF International Equity Fund		54,001,341
	3,914,872		TIAA-CREF International Opportunities Fund		53,124,813
	8,618,695		TIAA-CREF Quant International Equity Fund		68,777,189
	3,036,165		TIAA-CREF Quant International Small-Cap Equity Fund		35,098,064
			TOTAL INTERNATIONAL EQUITY		255,264,665

SHORT-TERM FIXED INCOME - 7.9%
	14,897,034		TIAA-CREF Short-Term Bond Fund		152,098,715
			TOTAL SHORT-TERM FIXED INCOME		152,098,715

U.S. EQUITY - 30.5%
	7,694,693		TIAA-CREF Growth & Income Fund		122,037,839
	4,634,791		TIAA-CREF Large-Cap Growth Fund		109,056,622
	5,483,192		TIAA-CREF Large-Cap Value Fund		107,744,716
	6,176,394		TIAA-CREF Quant Large-Cap Growth Fund		96,537,036
	8,983,890		TIAA-CREF Quant Large-Cap Value Fund		95,588,591
	1,583,923		TIAA-CREF Quant Small-Cap Equity Fund		33,800,914
	1,787,042		TIAA-CREF Quant Small/Mid-Cap Equity Fund		25,036,454
			TOTAL U.S. EQUITY		589,802,172

			TOTAL AFFILIATED INVESTMENT COMPANIES		1,928,562,390
			(Cost $1,843,095,023)

			TOTAL INVESTMENTS - 99.7%		1,928,562,390
			(Cost $1,843,095,023)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		6,692,156
			NET ASSETS - 100.0%	$	1,935,254,546


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 8/31/18, the total value of this security amounted to $72,561,394 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2020 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2020 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 3.8%
	12,992,177	b,c	TIAA-CREF Real Property Fund LP (purchased 11/28/16-6/26/18; cost $137,217,407)	$	144,473,012
			TOTAL DIRECT REAL ESTATE		144,473,012

FIXED INCOME - 34.7%
	69,087,302		TIAA-CREF Bond Fund		695,709,128
	44,569,822		TIAA-CREF Bond Plus Fund		451,937,997
	8,040,798		TIAA-CREF Emerging Markets Debt Fund		74,940,241
	6,185,217		TIAA-CREF High-Yield Fund		59,625,495
	5,796,203		TIAA-CREF International Bond Fund		57,092,599
			TOTAL FIXED INCOME		1,339,305,460

INFLATION-PROTECTED ASSETS - 5.2%
	17,839,096		TIAA-CREF Inflation-Linked Bond Fund		201,581,781
			TOTAL INFLATION-PROTECTED ASSETS		201,581,781

INTERNATIONAL EQUITY - 15.1%
	9,043,741		TIAA-CREF Emerging Markets Equity Fund		100,204,646
	9,959,697		TIAA-CREF International Equity Fund		123,500,242
	8,936,803		TIAA-CREF International Opportunities Fund		121,272,420
	19,557,476		TIAA-CREF Quant International Equity Fund		156,068,656
	6,949,679		TIAA-CREF Quant International Small-Cap Equity Fund		80,338,292
			TOTAL INTERNATIONAL EQUITY		581,384,256

SHORT-TERM FIXED INCOME - 5.9%
	22,207,834		TIAA-CREF Short-Term Bond Fund		226,741,981
			TOTAL SHORT-TERM FIXED INCOME		226,741,981

U.S. EQUITY - 35.0%
	17,584,448		TIAA-CREF Growth & Income Fund		278,889,338
	10,588,447		TIAA-CREF Large-Cap Growth Fund		249,146,155
	12,536,074		TIAA-CREF Large-Cap Value Fund		246,333,849
	14,132,795		TIAA-CREF Quant Large-Cap Growth Fund		220,895,586
	20,517,025		TIAA-CREF Quant Large-Cap Value Fund		218,301,151
	3,623,034		TIAA-CREF Quant Small-Cap Equity Fund		77,315,551
	4,087,115		TIAA-CREF Quant Small/Mid-Cap Equity Fund		57,260,476
			TOTAL U.S. EQUITY		1,348,142,106

			TOTAL AFFILIATED INVESTMENT COMPANIES		3,841,628,596
			(Cost $3,599,936,913)

			TOTAL INVESTMENTS - 99.7%		3,841,628,596
			(Cost $3,599,936,913)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		11,572,120
			NET ASSETS - 100.0%	$	3,853,200,716


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 8/31/18, the total value of this security amounted to $144,473,012 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2025 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2025 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 3.8%
	15,154,807	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-6/26/18; cost $159,774,379)	$	168,521,451
			TOTAL DIRECT REAL ESTATE		168,521,451

FIXED INCOME - 30.0%
	69,477,137		TIAA-CREF Bond Fund		699,634,774
	45,166,922		TIAA-CREF Bond Plus Fund		457,992,589
	8,319,097		TIAA-CREF Emerging Markets Debt Fund		77,533,983
	6,129,093		TIAA-CREF High-Yield Fund		59,084,456
	5,643,270		TIAA-CREF International Bond Fund		55,586,213
			TOTAL FIXED INCOME		1,349,832,015

INFLATION-PROTECTED ASSETS - 3.2%
	12,892,456		TIAA-CREF Inflation-Linked Bond Fund		145,684,757
			TOTAL INFLATION-PROTECTED ASSETS		145,684,757

INTERNATIONAL EQUITY - 17.7%
	12,243,780		TIAA-CREF Emerging Markets Equity Fund		135,661,079
	13,645,873		TIAA-CREF International Equity Fund		169,208,831
	12,297,609		TIAA-CREF International Opportunities Fund		166,878,551
	26,640,888		TIAA-CREF Quant International Equity Fund		212,594,285
	9,546,571		TIAA-CREF Quant International Small-Cap Equity Fund		110,358,357
			TOTAL INTERNATIONAL EQUITY		794,701,103

SHORT-TERM FIXED INCOME - 3.9%
	17,198,608		TIAA-CREF Short-Term Bond Fund		175,597,788
			TOTAL SHORT-TERM FIXED INCOME		175,597,788

U.S. EQUITY - 41.1%
	24,145,761		TIAA-CREF Growth & Income Fund		382,951,767
	14,525,417		TIAA-CREF Large-Cap Growth Fund		341,783,062
	17,198,535		TIAA-CREF Large-Cap Value Fund		337,951,210
	19,356,063		TIAA-CREF Quant Large-Cap Growth Fund		302,535,266
	28,093,897		TIAA-CREF Quant Large-Cap Value Fund		298,919,062
	4,966,544		TIAA-CREF Quant Small-Cap Equity Fund		105,986,039
	5,608,334		TIAA-CREF Quant Small/Mid-Cap Equity Fund		78,572,759
			TOTAL U.S. EQUITY		1,848,699,165

			TOTAL AFFILIATED INVESTMENT COMPANIES		4,483,036,279
			(Cost $4,107,723,317)

			TOTAL INVESTMENTS - 99.7%		4,483,036,279
			(Cost $4,107,723,317)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		13,238,369
			NET ASSETS - 100.0%	$	4,496,274,648


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 8/31/18, the total value of this security amounted to $168,521,451 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2030 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2030 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 3.8%
	15,119,191	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-8/30/18; cost $159,234,568)	$	168,125,401
			TOTAL DIRECT REAL ESTATE		168,125,401

FIXED INCOME - 25.5%
	59,110,462		TIAA-CREF Bond Fund		595,242,350
	38,214,628		TIAA-CREF Bond Plus Fund		387,496,323
	7,209,655		TIAA-CREF Emerging Markets Debt Fund		67,193,987
	5,002,844		TIAA-CREF High-Yield Fund		48,227,416
	4,491,628		TIAA-CREF International Bond Fund		44,242,538
			TOTAL FIXED INCOME		1,142,402,614

INFLATION-PROTECTED ASSETS - 1.2%
	4,954,135		TIAA-CREF Inflation-Linked Bond Fund		55,981,725
			TOTAL INFLATION-PROTECTED ASSETS		55,981,725

INTERNATIONAL EQUITY - 20.2%
	13,861,897		TIAA-CREF Emerging Markets Equity Fund		153,589,815
	15,687,807		TIAA-CREF International Equity Fund		194,528,807
	14,074,080		TIAA-CREF International Opportunities Fund		190,985,269
	30,305,339		TIAA-CREF Quant International Equity Fund		241,836,603
	10,916,737		TIAA-CREF Quant International Small-Cap Equity Fund		126,197,475
			TOTAL INTERNATIONAL EQUITY		907,137,969

SHORT-TERM FIXED INCOME - 1.7%
	7,673,168		TIAA-CREF Short-Term Bond Fund		78,343,042
			TOTAL SHORT-TERM FIXED INCOME		78,343,042

U.S. EQUITY - 47.3%
	27,706,532		TIAA-CREF Growth & Income Fund		439,425,605
	16,647,499		TIAA-CREF Large-Cap Growth Fund		391,715,642
	19,706,544		TIAA-CREF Large-Cap Value Fund		387,233,589
	22,143,180		TIAA-CREF Quant Large-Cap Growth Fund		346,097,904
	32,176,761		TIAA-CREF Quant Large-Cap Value Fund		342,360,739
	5,691,213		TIAA-CREF Quant Small-Cap Equity Fund		121,450,487
	6,428,189		TIAA-CREF Quant Small/Mid-Cap Equity Fund		90,058,932
			TOTAL U.S. EQUITY		2,118,342,898

			TOTAL AFFILIATED INVESTMENT COMPANIES		4,470,333,649
			(Cost $4,004,582,876)

			TOTAL INVESTMENTS - 99.7%		4,470,333,649
			(Cost $4,004,582,876)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		12,822,113
			NET ASSETS - 100.0%	$	4,483,155,762


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 8/31/18, the total value of this security amounted to $168,125,401 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2035 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2035 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 3.8%
	15,439,057	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-8/30/18; cost $162,668,300)	$	171,682,318
			TOTAL DIRECT REAL ESTATE		171,682,318

FIXED INCOME - 19.7%
	47,669,115		TIAA-CREF Bond Fund		480,027,993
	29,908,933		TIAA-CREF Bond Plus Fund		303,276,585
	5,931,465		TIAA-CREF Emerging Markets Debt Fund		55,281,256
	3,645,026		TIAA-CREF High-Yield Fund		35,138,055
	3,090,841		TIAA-CREF International Bond Fund		30,444,784
			TOTAL FIXED INCOME		904,168,673

INTERNATIONAL EQUITY - 22.8%
	15,908,797		TIAA-CREF Emerging Markets Equity Fund		176,269,470
	18,119,451		TIAA-CREF International Equity Fund		224,681,189
	16,252,495		TIAA-CREF International Opportunities Fund		220,546,354
	34,805,103		TIAA-CREF Quant International Equity Fund		277,744,724
	12,622,115		TIAA-CREF Quant International Small-Cap Equity Fund		145,911,651
			TOTAL INTERNATIONAL EQUITY		1,045,153,388

U.S. EQUITY - 53.4%
	31,952,560		TIAA-CREF Growth & Income Fund		506,767,599
	19,197,590		TIAA-CREF Large-Cap Growth Fund		451,719,297
	22,747,667		TIAA-CREF Large-Cap Value Fund		446,991,661
	25,541,009		TIAA-CREF Quant Large-Cap Growth Fund		399,205,973
	37,058,800		TIAA-CREF Quant Large-Cap Value Fund		394,305,629
	6,565,293		TIAA-CREF Quant Small-Cap Equity Fund		140,103,346
	7,422,155		TIAA-CREF Quant Small/Mid-Cap Equity Fund		103,984,398
			TOTAL U.S. EQUITY		2,443,077,903

			TOTAL AFFILIATED INVESTMENT COMPANIES		4,564,082,282
			(Cost $3,987,117,873)

			TOTAL INVESTMENTS - 99.7%		4,564,082,282
			(Cost $3,987,117,873)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		14,529,274
			NET ASSETS - 100.0%	$	4,578,611,556


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 8/31/18, the total value of this security amounted to $171,682,318 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2040 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2040 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 3.8%
	18,836,317	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-8/30/18; cost $198,499,107)	$	209,459,841
			TOTAL DIRECT REAL ESTATE		209,459,841

FIXED INCOME - 11.0%
	32,759,040		TIAA-CREF Bond Fund		329,883,536
	20,850,934		TIAA-CREF Bond Plus Fund		211,428,474
	4,768,656		TIAA-CREF Emerging Markets Debt Fund		44,443,872
	1,930,020		TIAA-CREF High-Yield Fund		18,605,391
	1,180,457		TIAA-CREF International Bond Fund		11,627,502
			TOTAL FIXED INCOME		615,988,775

INTERNATIONAL EQUITY - 25.4%
	21,366,039		TIAA-CREF Emerging Markets Equity Fund		236,735,717
	24,586,060		TIAA-CREF International Equity Fund		304,867,148
	22,090,588		TIAA-CREF International Opportunities Fund		299,769,285
	47,153,603		TIAA-CREF Quant International Equity Fund		376,285,756
	17,133,398		TIAA-CREF Quant International Small-Cap Equity Fund		198,062,083
			TOTAL INTERNATIONAL EQUITY		1,415,719,989

U.S. EQUITY - 59.5%
	43,431,740		TIAA-CREF Growth & Income Fund		688,827,404
	26,101,847		TIAA-CREF Large-Cap Growth Fund		614,176,460
	30,913,252		TIAA-CREF Large-Cap Value Fund		607,445,407
	34,678,627		TIAA-CREF Quant Large-Cap Growth Fund		542,026,933
	50,341,146		TIAA-CREF Quant Large-Cap Value Fund		535,629,797
	8,926,892		TIAA-CREF Quant Small-Cap Equity Fund		190,499,867
	10,112,233		TIAA-CREF Quant Small/Mid-Cap Equity Fund		141,672,381
			TOTAL U.S. EQUITY		3,320,278,249

			TOTAL AFFILIATED INVESTMENT COMPANIES		5,561,446,854
			(Cost $4,736,404,928)

			TOTAL INVESTMENTS - 99.7%		5,561,446,854
			(Cost $4,736,404,928)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		19,077,966
			NET ASSETS - 100.0%	$	5,580,524,820


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 8/31/18, the total value of this security amounted to $209,459,841 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2045 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2045 FUND
SCHEDULE OF INVESTMENTS (unaudited)
August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.5%^a

DIRECT REAL ESTATE - 3.8%
	10,071,987	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-8/30/18; cost $106,342,763)	$	112,000,498
			TOTAL DIRECT REAL ESTATE		112,000,498

FIXED INCOME - 5.2%
	7,948,752		TIAA-CREF Bond Fund		80,043,937
	5,471,255		TIAA-CREF Bond Plus Fund		55,478,530
	1,464,053		TIAA-CREF Emerging Markets Debt Fund		13,644,977
	301,342		TIAA-CREF High-Yield Fund		2,904,940
	243,770		TIAA-CREF International Bond Fund		2,401,139
			TOTAL FIXED INCOME		154,473,523

INTERNATIONAL EQUITY - 27.0%
	12,198,696		TIAA-CREF Emerging Markets Equity Fund		135,161,548
	14,083,529		TIAA-CREF International Equity Fund		174,635,756
	12,620,028		TIAA-CREF International Opportunities Fund		171,253,785
	26,679,897		TIAA-CREF Quant International Equity Fund		212,905,580
	9,802,212		TIAA-CREF Quant International Small-Cap Equity Fund		113,313,569
			TOTAL INTERNATIONAL EQUITY		807,270,238

U.S. EQUITY - 63.5%
	24,820,186		TIAA-CREF Growth & Income Fund		393,648,151
	14,924,391		TIAA-CREF Large-Cap Growth Fund		351,170,931
	17,663,346		TIAA-CREF Large-Cap Value Fund		347,084,740
	19,811,248		TIAA-CREF Quant Large-Cap Growth Fund		309,649,809
	28,779,596		TIAA-CREF Quant Large-Cap Value Fund		306,214,904
	5,100,577		TIAA-CREF Quant Small-Cap Equity Fund		108,846,321
	5,795,615		TIAA-CREF Quant Small/Mid-Cap Equity Fund		81,196,568
			TOTAL U.S. EQUITY		1,897,811,424

			TOTAL AFFILIATED INVESTMENT COMPANIES		2,971,555,683
			(Cost $2,352,944,813)

			TOTAL INVESTMENTS - 99.5%		2,971,555,683
			(Cost $2,352,944,813)
			OTHER ASSETS & LIABILITIES, NET - 0.5%		13,965,959
			NET ASSETS - 100.0%	$	2,985,521,642


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 8/31/18, the total value of this security amounted to $112,000,498 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2050 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2050 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.5%^a

DIRECT REAL ESTATE - 3.8%
	6,607,288	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-8/30/18; cost $69,836,708)	$	73,473,040
			TOTAL DIRECT REAL ESTATE		73,473,040

FIXED INCOME - 3.9%
	3,881,380		TIAA-CREF Bond Fund		39,085,499
	2,813,640		TIAA-CREF Bond Plus Fund		28,530,305
	713,729		TIAA-CREF Emerging Markets Debt Fund		6,651,957
	193,003		TIAA-CREF High-Yield Fund		1,860,549
	156,371		TIAA-CREF International Bond Fund		1,540,253
			TOTAL FIXED INCOME		77,668,563

INTERNATIONAL EQUITY - 27.4%
	8,113,290		TIAA-CREF Emerging Markets Equity Fund		89,895,253
	9,370,673		TIAA-CREF International Equity Fund		116,196,348
	8,397,608		TIAA-CREF International Opportunities Fund		113,955,535
	17,687,507		TIAA-CREF Quant International Equity Fund		141,146,309
	6,523,767		TIAA-CREF Quant International Small-Cap Equity Fund		75,414,742
			TOTAL INTERNATIONAL EQUITY		536,608,187

U.S. EQUITY - 64.4%
	16,497,950		TIAA-CREF Growth & Income Fund		261,657,490
	9,933,739		TIAA-CREF Large-Cap Growth Fund		233,740,876
	11,751,237		TIAA-CREF Large-Cap Value Fund		230,911,804
	13,173,759		TIAA-CREF Quant Large-Cap Growth Fund		205,905,849
	19,152,333		TIAA-CREF Quant Large-Cap Value Fund		203,780,825
	3,394,573		TIAA-CREF Quant Small-Cap Equity Fund		72,440,186
	3,845,518		TIAA-CREF Quant Small/Mid-Cap Equity Fund		53,875,704
			TOTAL U.S. EQUITY		1,262,312,734

			TOTAL AFFILIATED INVESTMENT COMPANIES		1,950,062,524
			(Cost $1,560,605,911)

			TOTAL INVESTMENTS - 99.5%		1,950,062,524
			(Cost $1,560,605,911)
			OTHER ASSETS & LIABILITIES, NET - 0.5%		9,742,899
			NET ASSETS - 100.0%	$	1,959,805,423


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 8/31/18, the total value of this security amounted to $73,473,040 or 3.8% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2055 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2055 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.4%^a

DIRECT REAL ESTATE - 3.7%
	2,091,469	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-8/30/18; cost $22,222,497)	$	23,257,132
			TOTAL DIRECT REAL ESTATE		23,257,132

FIXED INCOME - 2.8%
	812,169		TIAA-CREF Bond Fund		8,178,538
	648,474		TIAA-CREF Bond Plus Fund		6,575,529
	148,261		TIAA-CREF Emerging Markets Debt Fund		1,381,788
	59,931		TIAA-CREF High-Yield Fund		577,731
	48,433		TIAA-CREF International Bond Fund		477,065
			TOTAL FIXED INCOME		17,190,651

INTERNATIONAL EQUITY - 27.7%
	2,605,411		TIAA-CREF Emerging Markets Equity Fund		28,867,954
	3,008,704		TIAA-CREF International Equity Fund		37,307,928
	2,694,843		TIAA-CREF International Opportunities Fund		36,569,016
	5,664,055		TIAA-CREF Quant International Equity Fund		45,199,157
	2,094,879		TIAA-CREF Quant International Small-Cap Equity Fund		24,216,807
			TOTAL INTERNATIONAL EQUITY		172,160,862

U.S. EQUITY - 65.2%
	5,290,793		TIAA-CREF Growth & Income Fund		83,911,969
	3,187,876		TIAA-CREF Large-Cap Growth Fund		75,010,723
	3,772,931		TIAA-CREF Large-Cap Value Fund		74,138,088
	4,228,334		TIAA-CREF Quant Large-Cap Growth Fund		66,088,863
	6,144,555		TIAA-CREF Quant Large-Cap Value Fund		65,378,066
	1,090,772		TIAA-CREF Quant Small-Cap Equity Fund		23,277,079
	1,230,098		TIAA-CREF Quant Small/Mid-Cap Equity Fund		17,233,676
			TOTAL U.S. EQUITY		405,038,464

			TOTAL AFFILIATED INVESTMENT COMPANIES		617,647,109
			(Cost $521,200,427)

			TOTAL INVESTMENTS - 99.4%		617,647,109
			(Cost $521,200,427)
			OTHER ASSETS & LIABILITIES, NET - 0.6%		3,463,225
			NET ASSETS - 100.0%	$	621,110,334


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 8/31/18, the total value of this security amounted to $23,257,132 or 3.7% of net assets.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2060 Fund

TIAA-CREF LIFECYCLE FUNDS

LIFECYCLE 2060 FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES			SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.7%^a

DIRECT REAL ESTATE - 3.8%
	371,806	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-8/30/18; cost $3,989,935)	$	4,134,488
			TOTAL DIRECT REAL ESTATE		4,134,488

FIXED INCOME - 1.6%
	71,800		TIAA-CREF Bond Fund		723,028
	69,774		TIAA-CREF Bond Plus Fund		707,506
	10,987		TIAA-CREF Emerging Markets Debt Fund		102,395
	11,243		TIAA-CREF High-Yield Fund		108,387
	8,063		TIAA-CREF International Bond Fund		79,421
			TOTAL FIXED INCOME		1,720,737

INTERNATIONAL EQUITY - 28.0%
	465,695		TIAA-CREF Emerging Markets Equity Fund		5,159,904
	539,508		TIAA-CREF International Equity Fund		6,689,904
	483,232		TIAA-CREF International Opportunities Fund		6,557,455
	1,007,366		TIAA-CREF Quant International Equity Fund		8,038,781
	375,260		TIAA-CREF Quant International Small-Cap Equity Fund		4,338,003
			TOTAL INTERNATIONAL EQUITY		30,784,047

U.S. EQUITY - 66.3%
	952,016		TIAA-CREF Growth & Income Fund		15,098,981
	573,555		TIAA-CREF Large-Cap Growth Fund		13,495,757
	678,677		TIAA-CREF Large-Cap Value Fund		13,335,995
	760,645		TIAA-CREF Quant Large-Cap Growth Fund		11,888,888
	1,105,629		TIAA-CREF Quant Large-Cap Value Fund		11,763,896
	196,239		TIAA-CREF Quant Small-Cap Equity Fund		4,187,735
	221,306		TIAA-CREF Quant Small/Mid-Cap Equity Fund		3,100,491
			TOTAL U.S. EQUITY		72,871,743

			TOTAL AFFILIATED INVESTMENT COMPANIES		109,511,015
			(Cost $98,622,136)

			TOTAL INVESTMENTS - 99.7%		109,511,015
			(Cost $98,622,136)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		383,617
			NET ASSETS - 100.0%	$	109,894,632


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 8/31/18, the total value of this security amounted to $4,134,488 or 3.8% 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 U.S. 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”) and in conformity with the applicable rules and regulations of the SEC related to interim filings. Accordingly, the Schedule of Investments does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of financial statement notes, please refer to the most recently filed annual or semi-annual report.

The preparation of the Schedule of investments requires 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 accounting pronouncement: In August 2018, FASB issued ASU 2018-13, Fair Value Measurement: Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurements. ASU 2018-13 modifies the disclosures required for fair value measurements. This guidance is effective for fiscal years beginning after December 15, 2019. Management is currently evaluating the impact of this guidance.

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-CEN and N-PORT, and amends Regulation S-X disclosures related to derivatives and other disclosures in the financial statements and various 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 2019, but still requires the Funds to maintain the data that would have been filed on Form N-PORT during the deferral period. Form N-CEN and the data requirements of Form N-PORT were implemented on June 1, 2018 and did not have an impact on net assets.

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-33142, 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 various filings.

In August 2018, the Commission issued Final Rule Release No. 33-10532, Disclosure Update and Simplification. This final rule amends certain disclosure requirements that have become redundant, duplicative, overlapping, outdated, or superseded, in light of other Commission disclosure requirements, U.S. GAAP or changes in the information environment. This rule eliminates the requirements for funds to present the components of distributable earnings on the balance sheet and parenthetically on the statement of changes in net assets. The requirements of this final rule are effective November 5, 2018. Management will implement the above changes for year ends occurring after the effective date of this issuance.

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 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.

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

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

Investments in registered investment companies: These investments are valued at their net asset value on the valuation date. These investments are categorized 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 net asset value 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 August 31, 2018, there were no transfers between levels by the Funds.

The following table summarizes the market value of the Funds’ investments as of August 31, 2018, based on the inputs used to value them:

Fund	Level 1		Level 2		Level 3		Fair value using practical expedient^a		Total
Lifecycle Retirement Income
Registered investment companies	$	540,820,151	$	—	$	—	$	—	$	540,820,151
TIAA-CREF Real Property Fund LP		—		—		—		21,126,555		21,126,555
Total	$	540,820,151	$	—	$	—	$	21,126,555	$	561,946,706
Lifecycle 2010
Registered investment companies	$	1,205,414,033	$	—	$	—	$	—	$	1,205,414,033
TIAA-CREF Real Property Fund LP		—		—		—		47,134,595		47,134,595
Total	$	1,205,414,033	$	—	$	—	$	47,134,595	$	1,252,548,628
Lifecycle 2015
Registered investment companies	$	1,856,000,996	$	—	$	—	$	—	$	1,856,000,996
TIAA-CREF Real Property Fund LP		—		—		—		72,561,394		72,561,394
Total	$	1,856,000,996	$	—	$	—	$	72,561,394	$	1,928,562,390
Lifecycle 2020
Registered investment companies	$	3,697,155,584	$	—	$	—	$	—	$	3,697,155,584
TIAA-CREF Real Property Fund LP		—		—		—		144,473,012		144,473,012
Total	$	3,697,155,584	$	—	$	—	$	144,473,012	$	3,841,628,596
Lifecycle 2025
Registered investment companies	$	4,314,514,828	$	—	$	—	$	—	$	4,314,514,828
TIAA-CREF Real Property Fund LP		—		—		—		168,521,451		168,521,451
Total	$	4,314,514,828	$	—	$	—	$	168,521,451	$	4,483,036,279
Lifecycle 2030
Registered investment companies	$	4,302,208,248	$	—	$	—	$	—	$	4,302,208,248
TIAA-CREF Real Property Fund LP		—		—		—		168,125,401		168,125,401
Total	$	4,302,208,248	$	—	$	—	$	168,125,401	$	4,470,333,649
Lifecycle 2035
Registered investment companies	$	4,392,399,964	$	—	$	—	$	—	$	4,392,399,964
TIAA-CREF Real Property Fund LP		—		—		—		171,682,318		171,682,318
Total	$	4,392,399,964	$	—	$	—	$	171,682,318	$	4,564,082,282
Lifecycle 2040
Registered investment companies	$	5,351,987,013	$	—	$	—	$	—	$	5,351,987,013
TIAA-CREF Real Property Fund LP		—		—		—		209,459,841		209,459,841
Total	$	5,351,987,013	$	—	$	—	$	209,459,841	$	5,561,446,854
Lifecycle 2045
Registered investment companies	$	2,859,555,185	$	—	$	—	$	—	$	2,859,555,185
TIAA-CREF Real Property Fund LP		—		—		—		112,000,498		112,000,498
Total	$	2,859,555,185	$	—	$	—	$	112,000,498	$	2,971,555,683
Lifecycle 2050
Registered investment companies	$	1,876,589,484	$	—	$	—	$	—	$	1,876,589,484
TIAA-CREF Real Property Fund LP		—		—		—		73,473,040		73,473,040
Total	$	1,876,589,484	$	—	$	—	$	73,473,040	$	1,950,062,524

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 2055
Registered investment companies	$	594,389,977	$	—	$	—	$	—	$	594,389,977
TIAA-CREF Real Property Fund LP		—		—		—		23,257,132		23,257,132
Total	$	594,389,977	$	—	$	—	$	23,257,132	$	617,647,109
Lifecycle 2060
Registered investment companies	$	105,376,527	$	—	$	—	$	—	$	105,376,527
TIAA-CREF Real Property Fund LP		—		—		—		4,134,488		4,134,488
Total	$	105,376,527	$	—	$	—	$	4,134,488	$	109,511,015

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.

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^):

Issue	Value at 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle Retirement Income Fund
TIAA-CREF Funds:
Bond	$	110,889	$	5,860	$	3,427	$	(75	)	$	(257	)	$	885	$	112,990
Bond Plus		71,084		3,948		1,782		(57	)		(153	)		600		73,040
Emerging Markets Debt		10,283		2,599		517		(43	)		(351	)		121		11,971
Emerging Markets Equity		10,698		2,002		711		(56	)		(803	)		—		11,130
Growth & Income		29,041		896		2,084		549			1,515			86		29,917
High-Yield		10,893		540		1,738		(36	)		139			144		9,798
Inflation-Linked Bond		54,602		2,681		1,107		(9	)		(35	)		353		56,132
International Bond		9,195		727		459		(1	)		—			—		9,462
International Equity		12,966		1,380		472		24			(659	)		—		13,239
International Opportunities		12,773		838		542		79			(140	)		—		13,008
Large-Cap Growth		27,393		862		3,609		1,195			864			—		26,705
Large-Cap Value		24,537		2,410		1,735		237			956			—		26,405
Quant International Equity		17,578		1,004		1,329		302			(503	)		—		17,052
Quant International Small-Cap Equity		8,507		672		209		(11	)		(370	)		—		8,589
Quant Large-Cap Growth		23,854		708		2,795		625			1,346			—		23,738
Quant Large-Cap Value		21,504		1,987		1,218		37			1,175			—		23,485
Quant Small-Cap Equity		8,374		252		878		234			307			—		8,289
Quant Small/Mid-Cap Equity		6,191		150		661		130			329			—		6,139
Short-Term Bond		57,257		3,925		1,339		(14	)		(98	)		362		59,731
TIAA-CREF Real Property Fund LP^a		18,923		2,206		285		24			259			162		21,127
	$	546,542	$	35,647	$	26,897	$	3,134		$	3,521		$	2,713	$	561,947

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

Issue	Value at 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle 2010 Fund
TIAA-CREF Funds:
Bond	$	251,589	$	6,864	$	8,260	$	(284	)	$	(455	)	$	1,981	$	249,454
Bond Plus		161,327		4,269		3,860		(147	)		(327	)		1,343		161,262
Emerging Markets Debt		23,319		4,981		960		(59	)		(828	)		274		26,453
Emerging Markets Equity		25,722		3,349		1,227		(55	)		(1,985	)		—		25,804
Growth & Income		70,494		337		5,634		1,307			3,587			208		70,091
High-Yield		24,642		749		4,043		(109	)		336			322		21,575
Inflation-Linked Bond		114,639		4,660		3,429		(58	)		(32	)		743		115,780
International Bond		20,803		941		900		(6	)		6			—		20,844
International Equity		31,414		1,930		835		(17	)		(1,506	)		—		30,986
International Opportunities		30,981		1,167		1,510		111			(266	)		—		30,483
Large-Cap Growth		66,384		634		9,296		5,130			(222	)		—		62,630
Large-Cap Value		59,555		3,829		4,295		391			2,433			—		61,913
Quant International Equity		42,315		1,211		3,187		240			(737	)		—		39,842
Quant International Small-Cap Equity		20,611		1,115		647		(17	)		(906	)		—		20,156
Quant Large-Cap Growth		57,894		380		7,340		2,594			2,092			—		55,620
Quant Large-Cap Value		52,128		3,558		3,523		156			2,709			—		55,028
Quant Small-Cap Equity		20,327		232		2,413		616			667			—		19,429
Quant Small/Mid-Cap Equity		15,019		87		1,815		427			661			—		14,379
Short-Term Bond		120,585		7,024		3,689		(66	)		(169	)		756		123,685
TIAA-CREF Real Property Fund LP^a		43,476		4,626		1,610		11			632			367		47,135
	$	1,253,224	$	51,943	$	68,473	$	10,165		$	5,690		$	5,994	$	1,252,549
Lifecycle 2015 Fund
TIAA-CREF Funds:
Bond	$	377,792	$	8,003	$	10,813	$	(57	)	$	(1,053	)	$	2,975	$	373,872
Bond Plus		242,603		4,633		4,498		(22	)		(689	)		2,020		242,027
Emerging Markets Debt		35,198		7,516		1,691		27			(1,359	)		409		39,691
Emerging Markets Equity		44,310		5,023		1,543		80			(3,607	)		—		44,263
Growth & Income		122,720		273		9,463		2,755			5,753			363		122,038
High-Yield		37,143		644		5,776		(181	)		519			484		32,349
Inflation-Linked Bond		138,161		5,381		3,616		22			(129	)		899		139,819
International Bond		31,114		1,291		1,328		3			(2	)		—		31,078
International Equity		54,832		2,713		896		114			(2,762	)		—		54,001
International Opportunities		53,894		1,571		2,043		444			(741	)		—		53,125
Large-Cap Growth		115,828		27		15,326		5,323			3,205			—		109,057
Large-Cap Value		103,864		5,925		6,960		1,289			3,627			—		107,745
Quant International Equity		72,695		1,698		4,747		530			(1,399	)		—		68,777
Quant International Small-Cap Equity		35,885		1,640		808		93			(1,712	)		—		35,098
Quant Large-Cap Growth		100,912		157		12,685		3,551			4,602			—		96,537
Quant Large-Cap Value		90,874		5,504		5,759		777			4,192			—		95,588
Quant Small-Cap Equity		35,460		4		3,898		644			1,591			—		33,801
Quant Small/Mid-Cap Equity		26,185		19		3,068		819			1,081			—		25,036
Short-Term Bond		147,712		7,909		3,234		1			(289	)		926		152,099
TIAA-CREF Real Property Fund LP^a		67,051		6,925		2,407		193			799			567		72,561
	$	1,934,233	$	66,856	$	100,559	$	16,405		$	11,627		$	8,643	$	1,928,562

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

Issue	Value at 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle 2020 Fund
TIAA-CREF Funds:
Bond	$	696,335	$	19,641	$	18,217	$	(94	)	$	(1,956	)	$	5,492	$	695,709
Bond Plus		448,046		13,437		8,219		(64	)		(1,262	)		3,732		451,938
Emerging Markets Debt		64,775		16,509		3,875		43			(2,512	)		751		74,940
Emerging Markets Equity		99,742		13,100		4,720		431			(8,348	)		—		100,205
Growth & Income		279,519		440		20,454		6,620			12,764			826		278,889
High-Yield		68,670		1,773		11,437		(265	)		884			887		59,625
Inflation-Linked Bond		196,935		9,372		4,580		29			(174	)		1,279		201,582
International Bond		56,480		3,098		2,482		6			(9	)		—		57,093
International Equity		124,616		7,151		2,210		354			(6,411	)		—		123,500
International Opportunities		122,735		4,149		4,954		1,182			(1,840	)		—		121,272
Large-Cap Growth		263,630		963		34,832		12,266			7,119			—		249,146
Large-Cap Value		236,335		13,011		14,185		3,250			7,923			—		246,334
Quant International Equity		163,323		3,754		9,071		1,279			(3,216	)		—		156,069
Quant International Small-Cap Equity		81,733		3,762		1,483		190			(3,864	)		—		80,338
Quant Large-Cap Growth		229,657		—		27,374		7,789			10,824			—		220,896
Quant Large-Cap Value		206,888		10,946		10,846		1,601			9,712			—		218,301
Quant Small-Cap Equity		80,767		67		8,613		1,499			3,596			—		77,316
Quant Small/Mid-Cap Equity		59,622		—		6,689		1,787			2,541			—		57,261
Short-Term Bond		215,556		16,286		4,679		2			(423	)		1,355		226,742
TIAA-CREF Real Property Fund LP^a		132,820		13,755		4,063		326			1,635			1,122		144,473
	$	3,828,184	$	151,214	$	202,983	$	38,231		$	26,983		$	15,444	$	3,841,629
Lifecycle 2025 Fund
TIAA-CREF Funds:
Bond	$	685,293	$	26,601	$	10,254	$	15		$	(2,020	)	$	5,486	$	699,635
Bond Plus		443,692		18,309		2,705		2			(1,305	)		3,745		457,993
Emerging Markets Debt		64,386		18,396		2,766		33			(2,515	)		749		77,534
Emerging Markets Equity		131,483		19,794		4,863		535			(11,288	)		—		135,661
Growth & Income		373,311		304		16,984		6,304			20,017			1,118		382,952
High-Yield		67,987		2,529		12,035		(274	)		877			877		59,084
Inflation-Linked Bond		137,113		10,328		1,666		10			(100	)		903		145,685
International Bond		53,631		3,763		1,803		5			(10	)		—		55,586
International Equity		166,279		12,330		1,162		211			(8,449	)		—		169,209
International Opportunities		164,070		5,998		2,277		562			(1,474	)		—		166,879
Large-Cap Growth		352,302		—		36,773		15,398			10,856			—		341,783
Large-Cap Value		315,407		18,373		10,953		3,001			12,123			—		337,951
Quant International Equity		214,991		8,062		7,860		1,205			(3,804	)		—		212,594
Quant International Small-Cap Equity		109,094		7,324		1,075		140			(5,125	)		—		110,358
Quant Large-Cap Growth		306,993		—		29,802		9,329			16,015			—		302,535
Quant Large-Cap Value		276,500		16,415		9,351		1,642			13,713			—		298,919
Quant Small-Cap Equity		107,900		—		8,849		1,688			5,247			—		105,986
Quant Small/Mid-Cap Equity		79,629		—		6,938		1,870			4,012			—		78,573
Short-Term Bond		158,662		18,834		1,587		1			(312	)		1,017		175,598
TIAA-CREF Real Property Fund LP^a		151,444		16,263		1,450		143			2,121			1,295		168,521
	$	4,360,167	$	203,623	$	171,153	$	41,820		$	48,579		$	15,190	$	4,483,036

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

Issue	Value at 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle 2030 Fund
TIAA-CREF Funds:
Bond	$	596,582	$	28,082	$	27,664	$	51		$	(1,809	)	$	4,753	$	595,242
Bond Plus		375,215		21,255		7,865		2			(1,111	)		3,149		387,496
Emerging Markets Debt		54,445		17,926		3,057		24			(2,144	)		640		67,194
Emerging Markets Equity		148,981		22,272		5,560		692			(12,795	)		—		153,590
Growth & Income		425,933		804		17,353		6,685			23,357			1,267		439,426
High-Yield		57,486		2,377		12,127		(308	)		799			720		48,227
Inflation-Linked Bond		49,811		6,858		662		2			(27	)		329		55,982
International Bond		42,673		3,910		2,334		2			(8	)		—		44,243
International Equity		189,756		16,670		2,561		514			(9,850	)		—		194,529
International Opportunities		187,367		7,601		2,955		744			(1,772	)		—		190,985
Large-Cap Growth		402,224		70		40,467		19,238			10,651			—		391,716
Large-Cap Value		359,976		20,449		10,433		3,139			14,103			—		387,234
Quant International Equity		242,877		8,379		6,462		1,027			(3,984	)		—		241,837
Quant International Small-Cap Equity		124,507		8,954		1,612		243			(5,895	)		—		126,197
Quant Large-Cap Growth		350,319		529		33,649		11,232			17,667			—		346,098
Quant Large-Cap Value		315,520		20,013		10,724		2,096			15,456			—		342,361
Quant Small-Cap Equity		123,118		138		9,711		1,934			5,971			—		121,450
Quant Small/Mid-Cap Equity		90,870		107		7,630		2,052			4,660			—		90,059
Short-Term Bond		49,772		29,415		746		—			(98	)		326		78,343
TIAA-CREF Real Property Fund LP^a		150,742		15,878		738		67			2,176			1,285		168,125
	$	4,338,174	$	231,687	$	204,310	$	49,436		$	55,347		$	12,469	$	4,470,334
Lifecycle 2035 Fund
TIAA-CREF Funds:
Bond	$	455,523	$	34,845	$	8,999	$	19		$	(1,360	)	$	3,672	$	480,028
Bond Plus		287,758		21,434		5,069		4			(850	)		2,435		303,277
Emerging Markets Debt		41,767		17,515		2,329		16			(1,688	)		490		55,281
Emerging Markets Equity		168,581		26,292		4,734		583			(14,453	)		—		176,269
Growth & Income		485,428		1,049		14,167		5,644			28,814			1,451		506,768
High-Yield		44,013		2,680		11,906		(326	)		677			532		35,138
International Bond		28,490		3,859		1,899		4			(9	)		—		30,445
International Equity		216,192		19,869		642		127			(10,865	)		—		224,681
International Opportunities		213,489		9,766		1,501		374			(1,582	)		—		220,546
Large-Cap Growth		458,474		—		41,124		20,184			14,185			—		451,719
Large-Cap Value		410,253		26,384		9,429		2,991			16,793			—		446,992
Quant International Equity		274,552		11,584		4,997		794			(4,188	)		—		277,745
Quant International Small-Cap Equity		141,819		11,246		649		84			(6,588	)		—		145,912
Quant Large-Cap Growth		399,246		—		33,237		11,341			21,856			—		399,206
Quant Large-Cap Value		359,614		22,572		8,007		1,628			18,499			—		394,306
Quant Small-Cap Equity		140,362		55		9,407		2,149			6,944			—		140,103
Quant Small/Mid-Cap Equity		103,573		—		7,311		1,975			5,747			—		103,984
TIAA-CREF Real Property Fund LP^a		152,406		16,994		—		—			2,282			1,307		171,682
	$	4,381,540	$	226,144	$	165,407	$	47,591		$	74,214		$	9,887	$	4,564,082

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

Issue	Value at 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle 2040 Fund
TIAA-CREF Funds:
Bond	$	313,349	$	32,122	$	14,660	$	17		$	(944	)	$	2,525	$	329,884
Bond Plus		200,680		20,288		8,945		(5	)		(589	)		1,684		211,429
Emerging Markets Debt		29,168		18,389		1,917		11			(1,207	)		335		44,444
Emerging Markets Equity		228,805		34,308		7,647		957			(19,687	)		—		236,736
Growth & Income		662,582		1,038		21,675		8,800			38,082			1,974		688,827
High-Yield		30,644		2,648		14,870		(903	)		1,086			311		18,605
International Bond		10,593		4,061		3,021		1			(6	)		—		11,628
International Equity		295,139		25,330		949		187			(14,840	)		—		304,867
International Opportunities		291,316		14,448		4,406		1,131			(2,720	)		—		299,769
Large-Cap Growth		625,731		741		59,088		29,745			17,047			—		614,176
Large-Cap Value		559,939		32,767		12,202		4,085			22,856			—		607,445
Quant International Equity		372,447		15,131		6,724		1,094			(5,662	)		—		376,286
Quant International Small-Cap Equity		193,609		14,842		1,569		245			(9,065	)		—		198,062
Quant Large-Cap Growth		544,917		—		48,037		16,692			28,455			—		542,027
Quant Large-Cap Value		490,805		32,578		15,200		3,217			24,230			—		535,630
Quant Small-Cap Equity		191,474		—		13,353		3,051			9,328			—		190,500
Quant Small/Mid-Cap Equity		141,365		—		10,235		2,775			7,767			—		141,672
TIAA-CREF Real Property Fund LP^a		186,999		19,743		65		6			2,777			1,596		209,460
	$	5,369,562	$	268,434	$	244,563	$	71,106		$	96,908		$	8,425	$	5,561,447
Lifecycle 2045 Fund
TIAA-CREF Funds:
Bond	$	82,483	$	7,375	$	9,561	$	(508	)	$	255		$	663	$	80,044
Bond Plus		54,554		4,987		3,898		(127	)		(37	)		446		55,479
Emerging Markets Debt		7,930		6,408		364		(15	)		(314	)		91		13,645
Emerging Markets Equity		127,388		21,427		3,004		(242	)		(10,407	)		—		135,162
Growth & Income		368,870		4,181		5,907		242			26,262			1,107		393,648
High-Yield		8,358		594		6,069		428			(406	)		66		2,905
International Bond		2,584		1,027		1,207		(9	)		6			—		2,401
International Equity		164,388		18,958		375		(14	)		(8,321	)		—		174,636
International Opportunities		162,243		11,201		1,261		(13	)		(916	)		—		171,254
Large-Cap Growth		348,409		4,205		27,917		2,970			23,504			—		351,171
Large-Cap Value		312,139		23,580		3,833		31			15,168			—		347,085
Quant International Equity		201,571		14,463		608		(12	)		(2,509	)		—		212,905
Quant International Small-Cap Equity		107,792		10,508		6		—			(4,980	)		—		113,314
Quant Large-Cap Growth		303,356		1,880		21,077		1,408			24,083			—		309,650
Quant Large-Cap Value		273,259		21,704		4,247		55			15,444			—		306,215
Quant Small-Cap Equity		106,664		1,160		5,988		281			6,729			—		108,846
Quant Small/Mid-Cap Equity		78,698		249		3,730		368			5,611			—		81,196
TIAA-CREF Real Property Fund LP^a		97,818		12,709		—		—			1,473			844		112,000
	$	2,808,504	$	166,616	$	99,052	$	4,843		$	90,645		$	3,217	$	2,971,556

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

Issue	Value at 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle 2050 Fund
TIAA-CREF Funds:
Bond	$	42,000	$	4,675	$	7,459	$	(318	)	$	188		$	337	$	39,086
Bond Plus		28,298		2,968		2,649		(85	)		(2	)		228		28,530
Emerging Markets Debt		4,113		2,852		143		(4	)		(166	)		47		6,652
Emerging Markets Equity		84,616		15,970		3,662		(284	)		(6,745	)		—		89,895
Growth & Income		245,104		3,463		4,507		134			17,463			733		261,657
High-Yield		4,314		251		2,722		186			(168	)		38		1,861
International Bond		1,663		647		769		(6	)		5			—		1,540
International Equity		109,306		13,033		624		(17	)		(5,502	)		—		116,196
International Opportunities		107,777		8,076		1,296		3			(604	)		—		113,956
Large-Cap Growth		231,500		4,209		19,527		1,826			15,733			—		233,741
Large-Cap Value		207,625		17,732		4,537		(38	)		10,130			—		230,912
Quant International Equity		132,722		10,640		556		(11	)		(1,649	)		—		141,146
Quant International Small-Cap Equity		71,612		7,416		307		(15	)		(3,291	)		—		75,415
Quant Large-Cap Growth		201,626		2,141		14,736		727			16,148			—		205,906
Quant Large-Cap Value		181,566		13,894		1,968		15			10,274			—		203,781
Quant Small-Cap Equity		70,871		880		3,955		145			4,499			—		72,440
Quant Small/Mid-Cap Equity		52,294		305		2,690		238			3,729			—		53,876
TIAA-CREF Real Property Fund LP^a		64,121		8,389		—		—			963			553		73,473
	$	1,841,128	$	117,541	$	72,107	$	2,496		$	61,005		$	1,936	$	1,950,063
Lifecycle 2055 Fund
TIAA-CREF Funds:
Bond	$	9,151	$	1,518	$	2,462	$	(78	)	$	49		$	76	$	8,178
Bond Plus		6,373		1,053		831		(26	)		7			51		6,576
Emerging Markets Debt		924		598		101		(6	)		(33	)		11		1,382
Emerging Markets Equity		26,170		5,590		653		(79	)		(2,160	)		—		28,868
Growth & Income		75,617		3,884		1,135		9			5,537			230		83,912
High-Yield		980		105		512		27			(22	)		10		578
International Bond		508		162		192		(2	)		1			—		477
International Equity		33,892		5,289		126		(7	)		(1,740	)		—		37,308
International Opportunities		33,247		3,843		333		(1	)		(187	)		—		36,569
Large-Cap Growth		71,396		3,615		5,525		226			5,299			—		75,011
Large-Cap Value		64,055		8,033		1,134		(25	)		3,209			—		74,138
Quant International Equity		40,620		5,197		94		(3	)		(521	)		—		45,199
Quant International Small-Cap Equity		22,180		3,115		47		(5	)		(1,026	)		—		24,217
Quant Large-Cap Growth		62,202		2,846		4,257		37			5,261			—		66,089
Quant Large-Cap Value		55,982		6,358		204		(3	)		3,245			—		65,378
Quant Small-Cap Equity		21,861		859		912		(4	)		1,473			—		23,277
Quant Small/Mid-Cap Equity		16,137		445		594		8			1,237			—		17,233
TIAA-CREF Real Property Fund LP^a		19,504		3,454		—		—			299			171		23,257
	$	560,799	$	55,964	$	19,112	$	68		$	19,928		$	549	$	617,647

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

Issue	Value at 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle 2060 Fund
TIAA-CREF Funds:
Bond	$	954	$	352	$	580	$	(7	)	$	4		$	9	$	723
Bond Plus		710		246		245		(6	)		3			6		708
Emerging Markets Debt		103		35		32		(2	)		(2	)		1		102
Emerging Markets Equity		4,588		1,130		165		(18	)		(375	)		—		5,160
Growth & Income		13,072		1,522		475		—			980			40		15,099
High-Yield		109		31		33		(1	)		2			1		108
International Bond		84		37		42		—			—			—		79
International Equity		5,898		1,230		129		(9	)		(300	)		—		6,690
International Opportunities		5,784		941		136		(2	)		(30	)		—		6,557
Large-Cap Growth		12,329		1,290		1,099		12			964			—		13,496
Large-Cap Value		11,074		2,216		518		(12	)		576			—		13,336
Quant International Equity		7,021		1,246		137		(10	)		(81	)		—		8,039
Quant International Small-Cap Equity		3,864		733		78		(8	)		(173	)		—		4,338
Quant Large-Cap Growth		10,741		1,136		927		(4	)		943			—		11,889
Quant Large-Cap Value		9,668		1,877		356		(9	)		584			—		11,764
Quant Small-Cap Equity		3,775		404		250		(2	)		261			—		4,188
Quant Small/Mid-Cap Equity		2,786		257		162		(1	)		221			—		3,101
TIAA-CREF Real Property Fund LP^a		3,310		772		—		—			52			30		4,134
	$	95,870	$	15,455	$	5,364	$	(79	)	$	3,629		$	87	$	109,511

^	Some amounts represent less than $1,000.
a	Restricted security

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 August 31, 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	Tax cost		Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Lifecycle Retirement Income	$	514,343	$	53,479	$	(5,875	)	$	47,604
Lifecycle 2010		1,089,663		170,918		(8,032	)		162,886
Lifecycle 2015		1,844,315		130,643		(46,396	)		84,247
Lifecycle 2020		3,601,614		313,970		(73,955	)		240,015
Lifecycle 2025		4,109,845		442,961		(69,770	)		373,191
Lifecycle 2030		4,006,808		521,352		(57,826	)		463,526
Lifecycle 2035		3,989,708		618,689		(44,315	)		574,374
Lifecycle 2040		4,740,479		858,109		(37,141	)		820,968
Lifecycle 2045		2,377,865		596,420		(2,729	)		593,691
Lifecycle 2050		1,576,601		374,551		(1,089	)		373,462
Lifecycle 2055		526,090		91,733		(176	)		91,557
Lifecycle 2060		99,625		10,039		(153	)		9,886

For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as upfront fees or premiums exchanged on derivatives and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting.

Note 5—subsequent event

On September 28, 2018, the Funds exchanged their shares held in the Institutional Class of the affiliated TIAA-CREF Funds for shares of Class W. Prior to September 30, 2018, the Funds incurred the fees of the affiliated TIAA-CREF Funds indirectly. Beginning October 1, 2018, the Funds directly incur their pro rata portion of the expenses of the affiliated TIAA-CREF Funds, excluding other investment pools or investment products.

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

TIAA-CREF LIFECYCLE INDEX FUNDS

LIFECYCLE INDEX RETIREMENT INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 39.9%
	11,615,606	TIAA-CREF Bond Index Fund	$	122,080,024
		TOTAL FIXED INCOME		122,080,024

INFLATION-PROTECTED ASSETS - 10.0%
	2,703,602	TIAA-CREF Inflation-Linked Bond Fund		30,550,700
		TOTAL INFLATION-PROTECTED ASSETS		30,550,700

INTERNATIONAL EQUITY - 11.8%
	867,134	TIAA-CREF Emerging Markets Equity Index Fund		9,668,541
	1,341,353	TIAA-CREF International Equity Index Fund		26,518,540
		TOTAL INTERNATIONAL EQUITY		36,187,081

SHORT-TERM FIXED INCOME - 9.9%
	3,105,647	TIAA-CREF Short-Term Bond Index Fund		30,497,449
		TOTAL SHORT-TERM FIXED INCOME		30,497,449

U.S. EQUITY - 28.3%
	3,990,180	TIAA-CREF Equity Index Fund		86,547,000
		TOTAL U.S. EQUITY		86,547,000

		TOTAL AFFILIATED INVESTMENT COMPANIES		305,862,254
		(Cost $284,534,951)

		TOTAL INVESTMENTS - 99.9%		305,862,254
		(Cost $284,534,951)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		384,456
		NET ASSETS - 100.0%	$	306,246,710

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 100.2%(a)

FIXED INCOME - 39.6%
	15,660,362	TIAA-CREF Bond Index Fund	$	164,590,399
		TOTAL FIXED INCOME		164,590,399

INFLATION-PROTECTED ASSETS - 9.3%
	3,405,534	TIAA-CREF Inflation-Linked Bond Fund		38,482,532
		TOTAL INFLATION-PROTECTED ASSETS		38,482,532

INTERNATIONAL EQUITY - 12.4%
	1,235,673	TIAA-CREF Emerging Markets Equity Index Fund		13,777,750
	1,910,996	TIAA-CREF International Equity Index Fund		37,780,386
		TOTAL INTERNATIONAL EQUITY		51,558,136

SHORT-TERM FIXED INCOME - 9.2%
	3,912,355	TIAA-CREF Short-Term Bond Index Fund		38,419,328
		TOTAL SHORT-TERM FIXED INCOME		38,419,328

U.S. EQUITY - 29.7%
	5,682,594	TIAA-CREF Equity Index Fund		123,255,457
		TOTAL U.S. EQUITY		123,255,457

		TOTAL AFFILIATED INVESTMENT COMPANIES		416,305,852
		(Cost $357,057,168)

		TOTAL INVESTMENTS - 100.2%		416,305,852
		(Cost $357,057,168)
		OTHER ASSETS & LIABILITIES, NET - (0.2)%		(821,848	)
		NET ASSETS - 100.0%	$	415,484,004

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 38.5%
	29,924,972	TIAA-CREF Bond Index Fund	$	314,511,453
		TOTAL FIXED INCOME		314,511,453

INFLATION-PROTECTED ASSETS - 7.2%
	5,232,688	TIAA-CREF Inflation-Linked Bond Fund		59,129,378
		TOTAL INFLATION-PROTECTED ASSETS		59,129,378

INTERNATIONAL EQUITY - 13.9%
	2,708,558	TIAA-CREF Emerging Markets Equity Index Fund		30,200,419
	4,190,372	TIAA-CREF International Equity Index Fund		82,843,664
		TOTAL INTERNATIONAL EQUITY		113,044,083

SHORT-TERM FIXED INCOME - 7.2%
	6,010,229	TIAA-CREF Short-Term Bond Index Fund		59,020,448
		TOTAL SHORT-TERM FIXED INCOME		59,020,448

U.S. EQUITY - 33.1%
	12,473,675	TIAA-CREF Equity Index Fund		270,554,009
		TOTAL U.S. EQUITY		270,554,009

		TOTAL AFFILIATED INVESTMENT COMPANIES		816,259,371
		(Cost $695,891,414)

		TOTAL INVESTMENTS - 99.9%		816,259,371
		(Cost $695,891,414)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		503,003
		NET ASSETS - 100.0%	$	816,762,374

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 36.4%
	65,923,861	TIAA-CREF Bond Index Fund	$	692,859,781
		TOTAL FIXED INCOME		692,859,781

INFLATION-PROTECTED ASSETS - 5.2%
	8,834,569	TIAA-CREF Inflation-Linked Bond Fund		99,830,635
		TOTAL INFLATION-PROTECTED ASSETS		99,830,635

INTERNATIONAL EQUITY - 15.7%
	7,139,814	TIAA-CREF Emerging Markets Equity Index Fund		79,608,923
	11,046,738	TIAA-CREF International Equity Index Fund		218,394,006
		TOTAL INTERNATIONAL EQUITY		298,002,929

SHORT-TERM FIXED INCOME - 5.2%
	10,148,299	TIAA-CREF Short-Term Bond Index Fund		99,656,301
		TOTAL SHORT-TERM FIXED INCOME		99,656,301

U.S. EQUITY - 37.4%
	32,860,834	TIAA-CREF Equity Index Fund		712,751,482
		TOTAL U.S. EQUITY		712,751,482

		TOTAL AFFILIATED INVESTMENT COMPANIES		1,903,101,128
		(Cost $1,652,944,980)

		TOTAL INVESTMENTS - 99.9%		1,903,101,128
		(Cost $1,652,944,980)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		893,909
		NET ASSETS - 100.0%	$	1,903,995,037

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 32.4%
	71,847,414	TIAA-CREF Bond Index Fund	$	755,116,319
		TOTAL FIXED INCOME		755,116,319

INFLATION-PROTECTED ASSETS - 3.3%
	6,698,577	TIAA-CREF Inflation-Linked Bond Fund		75,693,920
		TOTAL INFLATION-PROTECTED ASSETS		75,693,920

INTERNATIONAL EQUITY - 18.0%
	10,064,733	TIAA-CREF Emerging Markets Equity Index Fund		112,221,778
	15,562,388	TIAA-CREF International Equity Index Fund		307,668,414
		TOTAL INTERNATIONAL EQUITY		419,890,192

SHORT-TERM FIXED INCOME - 3.2%
	7,695,133	TIAA-CREF Short-Term Bond Index Fund		75,566,207
		TOTAL SHORT-TERM FIXED INCOME		75,566,207

U.S. EQUITY - 43.0%
	46,283,453	TIAA-CREF Equity Index Fund		1,003,888,099
		TOTAL U.S. EQUITY		1,003,888,099

		TOTAL AFFILIATED INVESTMENT COMPANIES		2,330,154,737
		(Cost $2,019,383,272)

		TOTAL INVESTMENTS - 99.9%		2,330,154,737
		(Cost $2,019,383,272)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		2,379,501
		NET ASSETS - 100.0%	$	2,332,534,238

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%(a)

FIXED INCOME - 28.4%
	66,027,095	TIAA-CREF Bond Index Fund	$	693,944,767
		TOTAL FIXED INCOME		693,944,767

INFLATION-PROTECTED ASSETS - 1.3%
	2,708,623	TIAA-CREF Inflation-Linked Bond Fund		30,607,445
		TOTAL INFLATION-PROTECTED ASSETS		30,607,445

INTERNATIONAL EQUITY - 20.3%
	11,934,479	TIAA-CREF Emerging Markets Equity Index Fund		133,069,437
	18,455,735	TIAA-CREF International Equity Index Fund		364,869,881
		TOTAL INTERNATIONAL EQUITY		497,939,318

SHORT-TERM FIXED INCOME - 1.2%
	3,111,937	TIAA-CREF Short-Term Bond Index Fund		30,559,224
		TOTAL SHORT-TERM FIXED INCOME		30,559,224

U.S. EQUITY - 48.6%
	54,842,326	TIAA-CREF Equity Index Fund		1,189,530,049
		TOTAL U.S. EQUITY		1,189,530,049

		TOTAL AFFILIATED INVESTMENT COMPANIES		2,442,580,803
		(Cost $2,074,895,753)

		TOTAL INVESTMENTS - 99.8%		2,442,580,803
		(Cost $2,074,895,753)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		5,171,463
		NET ASSETS - 100.0%	$	2,447,752,266

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 22.9%
	49,220,521	TIAA-CREF Bond Index Fund	$	517,307,674
		TOTAL FIXED INCOME		517,307,674

INTERNATIONAL EQUITY - 22.7%
	12,289,803	TIAA-CREF Emerging Markets Equity Index Fund		137,031,308
	19,008,254	TIAA-CREF International Equity Index Fund		375,793,173
		TOTAL INTERNATIONAL EQUITY		512,824,481

U.S. EQUITY - 54.3%
	56,508,411	TIAA-CREF Equity Index Fund		1,225,667,442
		TOTAL U.S. EQUITY		1,225,667,442

		TOTAL AFFILIATED INVESTMENT COMPANIES		2,255,799,597
		(Cost $1,866,152,237)

		TOTAL INVESTMENTS - 99.9%		2,255,799,597
		(Cost $1,866,152,237)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		2,611,265
		NET ASSETS - 100.0%	$	2,258,410,862

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%(a)

FIXED INCOME - 14.9%
	34,728,098	TIAA-CREF Bond Index Fund	$	364,992,313
		TOTAL FIXED INCOME		364,992,313

INTERNATIONAL EQUITY - 25.0%
	14,667,790	TIAA-CREF Emerging Markets Equity Index Fund		163,545,863
	22,681,920	TIAA-CREF International Equity Index Fund		448,421,564
		TOTAL INTERNATIONAL EQUITY		611,967,427

U.S. EQUITY - 59.9%
	67,473,511	TIAA-CREF Equity Index Fund		1,463,500,450
		TOTAL U.S. EQUITY		1,463,500,450

		TOTAL AFFILIATED INVESTMENT COMPANIES		2,440,460,190
		(Cost $1,961,113,131)

		TOTAL INVESTMENTS - 99.8%		2,440,460,190
		(Cost $1,961,113,131)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		4,690,313
		NET ASSETS - 100.0%	$	2,445,150,503

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%(a)

FIXED INCOME - 9.5%
	14,064,725	TIAA-CREF Bond Index Fund	$	147,820,259
		TOTAL FIXED INCOME		147,820,259

INTERNATIONAL EQUITY - 26.6%
	9,966,116	TIAA-CREF Emerging Markets Equity Index Fund		111,122,193
	15,414,110	TIAA-CREF International Equity Index Fund		304,736,955
		TOTAL INTERNATIONAL EQUITY		415,859,148

U.S. EQUITY - 63.7%
	45,810,090	TIAA-CREF Equity Index Fund		993,620,858
		TOTAL U.S. EQUITY		993,620,858

		TOTAL AFFILIATED INVESTMENT COMPANIES		1,557,300,265
		(Cost $1,281,860,968)

		TOTAL INVESTMENTS - 99.8%		1,557,300,265
		(Cost $1,281,860,968)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		2,733,901
		NET ASSETS - 100.0%	$	1,560,034,166

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 8.2%
	8,895,112	TIAA-CREF Bond Index Fund	$	93,487,626
		TOTAL FIXED INCOME		93,487,626

INTERNATIONAL EQUITY - 27.1%
	7,361,337	TIAA-CREF Emerging Markets Equity Index Fund		82,078,905
	11,381,661	TIAA-CREF International Equity Index Fund		225,015,443
		TOTAL INTERNATIONAL EQUITY		307,094,348

U.S. EQUITY - 64.6%
	33,782,845	TIAA-CREF Equity Index Fund		732,749,898
		TOTAL U.S. EQUITY		732,749,898

		TOTAL AFFILIATED INVESTMENT COMPANIES		1,133,331,872
		(Cost $937,879,818)

		TOTAL INVESTMENTS - 99.9%		1,133,331,872
		(Cost $937,879,818)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		1,546,391
		NET ASSETS - 100.0%	$	1,134,878,263

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%(a)

FIXED INCOME - 7.0%
	2,818,498	TIAA-CREF Bond Index Fund	$	29,622,411
		TOTAL FIXED INCOME		29,622,411

INTERNATIONAL EQUITY - 27.4%
	2,780,823	TIAA-CREF Emerging Markets Equity Index Fund		31,006,180
	4,301,474	TIAA-CREF International Equity Index Fund		85,040,149
		TOTAL INTERNATIONAL EQUITY		116,046,329

U.S. EQUITY - 65.4%
	12,788,442	TIAA-CREF Equity Index Fund		277,381,310
		TOTAL U.S. EQUITY		277,381,310

		TOTAL AFFILIATED INVESTMENT COMPANIES		423,050,050
		(Cost $363,262,113)

		TOTAL INVESTMENTS - 99.8%		423,050,050
		(Cost $363,262,113)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		871,051
		NET ASSETS - 100.0%	$	423,921,101

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%(a)

FIXED INCOME - 5.7%
	545,946	TIAA-CREF Bond Index Fund	$	5,737,891
		TOTAL FIXED INCOME		5,737,891

INTERNATIONAL EQUITY - 27.9%
	666,519	TIAA-CREF Emerging Markets Equity Index Fund		7,431,687
	1,029,623	TIAA-CREF International Equity Index Fund		20,355,647
		TOTAL INTERNATIONAL EQUITY		27,787,334

U.S. EQUITY - 66.2%
	3,042,541	TIAA-CREF Equity Index Fund		65,992,713
		TOTAL U.S. EQUITY		65,992,713

		TOTAL AFFILIATED INVESTMENT COMPANIES		99,517,938
		(Cost $89,688,973)

		TOTAL INVESTMENTS - 99.8%		99,517,938
		(Cost $89,688,973)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		216,175
		NET ASSETS - 100.0%	$	99,734,113

(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 U.S. 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:

Transfers between levels are recognized at the end of the reporting period. For the period ended August 31, 2018, there were no transfers between levels by the Funds.

As of August 31, 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 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle Index Retirement Income Fund
TIAA-CREF Funds:
Bond Index	$	116,737	$	9,449	$	4,012	$	(140	)	$	46		$	811	$	122,080
Emerging Markets Equity Index		9,372		1,215		466		(39	)		(414	)		—		9,668
Equity Index		82,286		3,388		5,426		162			6,137			—		86,547
Inflation-Linked Bond		29,171		2,505		1,106		(23	)		4			193		30,551
International Equity Index		25,219		2,504		1,003		(16	)		(185	)		—		26,519
Short-Term Bond Index		29,154		2,392		1,020		(22	)		(7	)		154		30,497
	$	291,939	$	21,453	$	13,033	$	(78	)	$	5,581		$	1,158	$	305,862
Lifecycle Index 2010 Fund
TIAA-CREF Funds:
Bond Index	$	154,007	$	15,376	$	4,678	$	(172	)	$	57		$	1,091	$	164,590
Emerging Markets Equity Index		13,062		1,994		629		(47	)		(602	)		—		13,778
Equity Index		115,559		7,949		9,215		234			8,729			—		123,256
Inflation-Linked Bond		35,593		4,126		1,212		(29	)		5			240		38,483
International Equity Index		35,355		4,444		1,721		(29	)		(269	)		—		37,780
Short-Term Bond Index		35,567		4,082		1,196		(25	)		(9	)		193		38,419
	$	389,143	$	37,971	$	18,651	$	(68	)	$	7,911		$	1,524	$	416,306
Lifecycle Index 2015 Fund
TIAA-CREF Funds:
Bond Index	$	295,893	$	24,622	$	5,768	$	(248	)	$	12		$	2,047	$	314,511
Emerging Markets Equity Index		28,993		3,604		1,003		(84	)		(1,310	)		—		30,200
Equity Index		254,755		13,153		16,729		224			19,151			—		270,554
Inflation-Linked Bond		54,843		5,437		1,120		(29	)		(2	)		360		59,129
International Equity Index		78,064		7,973		2,565		(41	)		(587	)		—		82,844
Short-Term Bond Index		54,813		5,426		1,167		(25	)		(26	)		291		59,021
	$	767,361	$	60,215	$	28,352	$	(203	)	$	17,238		$	2,698	$	816,259

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

Issue	Value at 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle Index 2020 Fund
TIAA-CREF Funds:
Bond Index	$	632,175	$	68,260	$	7,145	$	(375	)	$	(55	)	$	4,477	$	692,860
Emerging Markets Equity Index		74,508		10,416		1,632		(143	)		(3,540	)		—		79,609
Equity Index		655,662		35,358		29,021		334			50,418			—		712,751
Inflation-Linked Bond		89,720		11,131		978		(35	)		(7	)		599		99,831
International Equity Index		200,858		22,609		3,343		(65	)		(1,665	)		—		218,394
Short-Term Bond Index		89,666		11,052		980		(21	)		(61	)		488		99,656
	$	1,742,589	$	158,826	$	43,099	$	(305	)	$	45,090		$	5,564	$	1,903,101
Lifecycle Index 2025 Fund
TIAA-CREF Funds:
Bond Index	$	685,205	$	71,292	$	881	$	(50	)	$	(450	)	$	4,834	$	755,116
Emerging Markets Equity Index		104,390		13,671		752		(87	)		(5,000	)		—		112,222
Equity Index		918,225		42,069		27,420		147			70,867			—		1,003,888
Inflation-Linked Bond		66,867		8,895		40		(1	)		(27	)		444		75,694
International Equity Index		281,293		30,346		1,611		(57	)		(2,302	)		—		307,669
Short-Term Bond Index		66,828		8,845		45		(1	)		(61	)		364		75,566
	$	2,122,808	$	175,118	$	30,749	$	(49	)	$	63,027		$	5,642	$	2,330,155
Lifecycle Index 2030 Fund
TIAA-CREF Funds:
Bond Index	$	619,462	$	76,989	$	2,107	$	(126	)	$	(273	)	$	4,427	$	693,945
Emerging Markets Equity Index		121,783		18,712		1,378		(146	)		(5,902	)		—		133,069
Equity Index		1,070,005		65,143		29,284		142			83,524			—		1,189,530
Inflation-Linked Bond		25,235		5,441		64		(2	)		(2	)		171		30,608
International Equity Index		327,968		41,394		1,616		(61	)		(2,815	)		—		364,870
Short-Term Bond Index		25,220		5,423		62		(2	)		(20	)		142		30,559
	$	2,189,673	$	213,102	$	34,511	$	(195	)	$	74,512		$	4,740	$	2,442,581
Lifecycle Index 2035 Fund
TIAA-CREF Funds:
Bond Index	$	465,197	$	53,764	$	1,327	$	(81	)	$	(245	)	$	3,297	$	517,308
Emerging Markets Equity Index		127,622		16,785		1,144		(128	)		(6,104	)		—		137,031
Equity Index		1,121,872		45,216		28,167		159			86,588			—		1,225,668
International Equity Index		343,932		36,313		1,560		(67	)		(2,825	)		—		375,793
	$	2,058,623	$	152,078	$	32,198	$	(117	)	$	77,414		$	3,297	$	2,255,800
Lifecycle Index 2040 Fund
TIAA-CREF Funds:
Bond Index	$	319,200	$	46,230	$	246	$	(15	)	$	(177	)	$	2,306	$	364,992
Emerging Markets Equity Index		149,441		22,174		612		(82	)		(7,375	)		—		163,546
Equity Index		1,314,478		74,598		28,300		76			102,648			—		1,463,500
International Equity Index		402,729		49,856		614		(32	)		(3,517	)		—		448,422
	$	2,185,848	$	192,858	$	29,772	$	(53	)	$	91,579		$	2,306	$	2,440,460
Lifecycle Index 2045 Fund
TIAA-CREF Funds:
Bond Index	$	131,686	$	16,315	$	90	$	(5	)	$	(86	)	$	942	$	147,820
Emerging Markets Equity Index		101,099		15,152		149		(23	)		(4,957	)		—		111,122
Equity Index		886,241		52,216		14,216		18			69,362			—		993,621
International Equity Index		271,954		35,202		72		(7	)		(2,340	)		—		304,737
	$	1,390,980	$	118,885	$	14,527	$	(17	)	$	61,979		$	942	$	1,557,300

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

Issue	Value at 5/31/18		Purchases cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Lifecycle Index 2050 Fund
TIAA-CREF Funds:
Bond Index	$	81,523	$	12,063	$	46	$	(3	)	$	(49	)	$	593	$	93,488
Emerging Markets Equity Index		72,546		13,359		170		(23	)		(3,633	)		—		82,079
Equity Index		641,852		49,970		9,915		2			50,841			—		732,750
International Equity Index		196,295		30,567		94		(7	)		(1,746	)		—		225,015
	$	992,216	$	105,959	$	10,225	$	(31	)	$	45,413		$	593	$	1,133,332
Lifecycle Index 2055 Fund
TIAA-CREF Funds:
Bond Index	$	25,407	$	4,258	$	26	$	(2	)	$	(14	)	$	187	$	29,623
Emerging Markets Equity Index		27,178		5,193		7		(1	)		(1,357	)		—		31,006
Equity Index		238,875		23,100		3,684		(7	)		19,097			—		277,381
International Equity Index		73,217		12,560		89		(6	)		(642	)		—		85,040
	$	364,677	$	45,111	$	3,806	$	(16	)	$	17,084		$	187	$	423,050
Lifecycle Index 2060 Fund
TIAA-CREF Funds:
Bond Index	$	4,515	$	1,321	$	97	$	(4	)	$	3		$	35	$	5,738
Emerging Markets Equity Index		5,932		1,994		178		(22	)		(294	)		—		7,432
Equity Index		51,991		11,447		1,843		(2	)		4,400			—		65,993
International Equity Index		16,049		4,817		343		(24	)		(144	)		—		20,355
	$	78,487	$	19,579	$	2,461	$	(52	)	$	3,965		$	35	$	99,518

Note 4—investments

			Gross		Gross			Net unrealized
	Tax		unrealized		unrealized			appreciation
Fund	cost		appreciation		(depreciation)			(depreciation)
Lifecycle Index Retirement Income	$	286,433	$	21,320	$	(1,891	)	$	19,429
Lifecycle Index 2010		361,449		57,290		(2,433	)		54,857
Lifecycle Index 2015		702,579		119,624		(5,944	)		113,680
Lifecycle Index 2020		1,663,530		255,659		(16,088	)		239,571
Lifecycle Index 2025		2,027,823		319,973		(17,642	)		302,331
Lifecycle Index 2030		2,083,113		374,563		(15,095	)		359,468
Lifecycle Index 2035		1,873,305		393,526		(11,032	)		382,494
Lifecycle Index 2040		1,968,357		479,438		(7,335	)		472,103
Lifecycle Index 2045		1,285,635		274,693		(3,028	)		271,665
Lifecycle Index 2050		940,260		194,915		(1,843	)		193,072
Lifecycle Index 2055		364,291		59,308		(549	)		58,759
Lifecycle Index 2060		90,005		9,601		(88	)		9,513

Note 5—subsequent event

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Income Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%(a)

FIXED INCOME - 37.5%
	1,459,899	TIAA-CREF Bond Fund	$	14,701,182
	1,278,722	TIAA-CREF Bond Plus Fund		12,966,246
		TOTAL FIXED INCOME		27,667,428

INTERNATIONAL EQUITY - 7.0%
	98,436	TIAA-CREF Emerging Markets Equity Fund		1,090,672
	92,680	TIAA-CREF International Equity Fund		1,149,230
	69,161	TIAA-CREF International Opportunities Fund		938,516
	170,439	TIAA-CREF Quant International Equity Fund		1,360,102
	53,815	TIAA-CREF Quant International Small-Cap Equity Fund		622,097
		TOTAL INTERNATIONAL EQUITY		5,160,617

SHORT-TERM FIXED INCOME - 40.5%
	2,925,063	TIAA-CREF Short-Term Bond Fund		29,864,897
		TOTAL SHORT-TERM FIXED INCOME		29,864,897

U.S. EQUITY - 14.8%
	145,365	TIAA-CREF Growth & Income Fund		2,305,487
	109,476	TIAA-CREF Large-Cap Growth Fund		2,575,975
	129,547	TIAA-CREF Large-Cap Value Fund		2,545,606
	77,529	TIAA-CREF Quant Large-Cap Growth Fund		1,211,781
	112,846	TIAA-CREF Quant Large-Cap Value Fund		1,200,682
	27,480	TIAA-CREF Quant Small-Cap Equity Fund		586,416
	33,801	TIAA-CREF Quant Small/Mid-Cap Equity Fund		473,557
		TOTAL U.S. EQUITY		10,899,504

		TOTAL AFFILIATED INVESTMENT COMPANIES		73,592,446
		(Cost $71,239,490)

		TOTAL INVESTMENTS - 99.8%		73,592,446
		(Cost $71,239,490)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		137,318
		NET ASSETS - 100.0%	$	73,729,764

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 37.5%
	2,310,741	TIAA-CREF Bond Fund	$	23,269,164
	6,343,973	TIAA-CREF Bond Plus Fund		64,327,885
		TOTAL FIXED INCOME		87,597,049

INTERNATIONAL EQUITY - 12.9%
	508,816	TIAA-CREF Emerging Markets Equity Fund		5,637,687
	586,011	TIAA-CREF International Equity Fund		7,266,531
	437,867	TIAA-CREF International Opportunities Fund		5,941,857
	918,684	TIAA-CREF Quant International Equity Fund		7,331,095
	340,149	TIAA-CREF Quant International Small-Cap Equity Fund		3,932,126
		TOTAL INTERNATIONAL EQUITY		30,109,296

SHORT-TERM FIXED INCOME - 20.6%
	4,704,258	TIAA-CREF Short-Term Bond Fund		48,030,472
		TOTAL SHORT-TERM FIXED INCOME		48,030,472

U.S. EQUITY - 28.9%
	920,834	TIAA-CREF Growth & Income Fund		14,604,428
	693,641	TIAA-CREF Large-Cap Growth Fund		16,321,374
	820,699	TIAA-CREF Large-Cap Value Fund		16,126,736
	440,193	TIAA-CREF Quant Large-Cap Growth Fund		6,880,219
	640,374	TIAA-CREF Quant Large-Cap Value Fund		6,813,582
	173,998	TIAA-CREF Quant Small-Cap Equity Fund		3,713,121
	214,009	TIAA-CREF Quant Small/Mid-Cap Equity Fund		2,998,270
		TOTAL U.S. EQUITY		67,457,730

		TOTAL AFFILIATED INVESTMENT COMPANIES		233,194,547
		(Cost $217,112,527)

		TOTAL INVESTMENTS - 99.9%		233,194,547
		(Cost $217,112,527)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		283,985
		NET ASSETS - 100.0%	$	233,478,532

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.8%(a)

FIXED INCOME - 38.1%
	13,115,529	TIAA-CREF Bond Plus Fund	$	132,991,465
		TOTAL FIXED INCOME		132,991,465

INTERNATIONAL EQUITY - 18.8%
	1,057,572	TIAA-CREF Emerging Markets Equity Fund		11,717,896
	1,312,305	TIAA-CREF International Equity Fund		16,272,582
	980,656	TIAA-CREF International Opportunities Fund		13,307,500
	1,934,914	TIAA-CREF Quant International Equity Fund		15,440,611
	762,092	TIAA-CREF Quant International Small-Cap Equity Fund		8,809,786
		TOTAL INTERNATIONAL EQUITY		65,548,375

U.S. EQUITY - 42.9%
	2,061,134	TIAA-CREF Growth & Income Fund		32,689,587
	1,552,055	TIAA-CREF Large-Cap Growth Fund		36,519,847
	1,836,446	TIAA-CREF Large-Cap Value Fund		36,086,166
	949,230	TIAA-CREF Quant Large-Cap Growth Fund		14,836,457
	1,380,664	TIAA-CREF Quant Large-Cap Value Fund		14,690,270
	389,141	TIAA-CREF Quant Small-Cap Equity Fund		8,304,264
	479,066	TIAA-CREF Quant Small/Mid-Cap Equity Fund		6,711,720
		TOTAL U.S. EQUITY		149,838,311

		TOTAL AFFILIATED INVESTMENT COMPANIES		348,378,151
		(Cost $310,374,417)

		TOTAL INVESTMENTS - 99.8%		348,378,151
		(Cost $310,374,417)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		577,598
		NET ASSETS - 100.0%	$	348,955,749

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 100.1%(a)

FIXED INCOME - 18.2%
	2,880,378	TIAA-CREF Bond Plus Fund	$	29,207,031
		TOTAL FIXED INCOME		29,207,031

INTERNATIONAL EQUITY - 24.8%
	624,850	TIAA-CREF Emerging Markets Equity Fund		6,923,335
	805,633	TIAA-CREF International Equity Fund		9,989,845
	601,817	TIAA-CREF International Opportunities Fund		8,166,652
	1,150,754	TIAA-CREF Quant International Equity Fund		9,183,014
	467,951	TIAA-CREF Quant International Small-Cap Equity Fund		5,409,517
		TOTAL INTERNATIONAL EQUITY		39,672,363

U.S. EQUITY - 57.1%
	1,263,741	TIAA-CREF Growth & Income Fund		20,042,930
	951,872	TIAA-CREF Large-Cap Growth Fund		22,397,555
	1,126,337	TIAA-CREF Large-Cap Value Fund		22,132,528
	571,685	TIAA-CREF Quant Large-Cap Growth Fund		8,935,430
	831,235	TIAA-CREF Quant Large-Cap Value Fund		8,844,342
	238,798	TIAA-CREF Quant Small-Cap Equity Fund		5,095,943
	293,957	TIAA-CREF Quant Small/Mid-Cap Equity Fund		4,118,343
		TOTAL U.S. EQUITY		91,567,071

		TOTAL AFFILIATED INVESTMENT COMPANIES		160,446,465
		(Cost $135,881,776)

		TOTAL INVESTMENTS - 100.1%		160,446,465
		(Cost $135,881,776)
		OTHER ASSETS & LIABILITIES, NET - (0.1)%		(83,009	)
		NET ASSETS - 100.0%	$	160,363,456

(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)

August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 100.0%(a)

INTERNATIONAL EQUITY - 29.5%
	514,831	TIAA-CREF Emerging Markets Equity Fund	$	5,704,333
	757,012	TIAA-CREF International Equity Fund		9,386,950
	565,980	TIAA-CREF International Opportunities Fund		7,680,353
	977,826	TIAA-CREF Quant International Equity Fund		7,803,051
	439,315	TIAA-CREF Quant International Small-Cap Equity Fund		5,078,478
		TOTAL INTERNATIONAL EQUITY		35,653,165

U.S. EQUITY - 70.5%
	1,188,763	TIAA-CREF Growth & Income Fund		18,853,776
	895,183	TIAA-CREF Large-Cap Growth Fund		21,063,667
	1,059,544	TIAA-CREF Large-Cap Value Fund		20,820,043
	506,088	TIAA-CREF Quant Large-Cap Growth Fund		7,910,161
	735,096	TIAA-CREF Quant Large-Cap Value Fund		7,821,424
	224,663	TIAA-CREF Quant Small-Cap Equity Fund		4,794,314
	276,333	TIAA-CREF Quant Small/Mid-Cap Equity Fund		3,871,424
		TOTAL U.S. EQUITY		85,134,809

		TOTAL AFFILIATED INVESTMENT COMPANIES		120,787,974
		(Cost $98,884,396)

		TOTAL INVESTMENTS - 100.0%		120,787,974
		(Cost $98,884,396)
		OTHER ASSETS & LIABILITIES, NET - 0.0%		(7,040	)
		NET ASSETS - 100.0%	$	120,780,934

(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 U.S. 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

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

•

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)

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 August 31, 2018, there were no transfers between levels by the Funds.

As of August 31, 2018, all of the investments in the Funds were valued based on Level 1 inputs.

Note 3—investment adviser and affiliates

										Change in
										unrealized
	Value at		Purchase		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		8/31/18
Lifestyle Income Fund
TIAA-CREF Funds:
Bond	$	14,209	$	942	$	409	$	(11	)	$	(30	)	$	114	$	14,701
Bond Plus		12,727		784		508		(8	)		(29	)		108		12,966
Emerging Markets Equity		965		243		38		(5	)		(74	)		—		1,091
Growth & Income		2,204		71		127		17			140			7		2,305
International Equity		1,109		138		42		(2	)		(54	)		—		1,149
International Opportunities		906		74		35		1			(7	)		—		939
Large-Cap Growth		2,602		109		333		83			115			—		2,576
Large-Cap Value		2,332		236		136		6			108			—		2,546
Quant International Equity Fund		1,476		118		216		(14	)		(4	)		—		1,360
Quant International Small-Cap Equity Fund		606		58		14		(1	)		(27	)		—		622
Quant Large-Cap Growth Fund		1,115		113		110		23			70			—		1,211
Quant Large-Cap Value Fund		1,018		164		39		1			57			—		1,201
Quant Small-Cap Equity Fund		585		18		55		5			33			—		586
Quant Small/Mid-Cap Equity Fund		470		13		45		8			28			—		474
Short-Term Bond		28,741		2,127		948		(9	)		(46	)		182		29,865
	$	71,065	$	5,208	$	3,055	$	94		$	280		$	411	$	73,592

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

										Change in
										unrealized
	Value at		Purchase		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		8/31/18
Lifestyle Conservative Fund
TIAA-CREF Funds:
Bond	$	22,405	$	1,322	$	392	$	(14	)	$	(52	)	$	180	$	23,269
Bond Plus		62,517		3,116		1,121		(39	)		(145	)		531		64,328
Emerging Markets Equity		5,181		954		67		(10	)		(420	)		—		5,638
Growth & Income		13,889		312		590		61			932			42		14,604
International Equity		6,970		734		86		(3	)		(348	)		—		7,267
International Opportunities		5,733		397		157		8			(39	)		—		5,942
Large-Cap Growth		16,373		372		1,667		324			919			—		16,321
Large-Cap Value		14,670		1,311		569		14			701			—		16,127
Quant International Equity Fund		7,515		491		581		(38	)		(56	)		—		7,331
Quant International Small-Cap Equity Fund		3,811		328		31		(3	)		(173	)		—		3,932
Quant Large-Cap Growth Fund		6,572		317		559		89			461			—		6,880
Quant Large-Cap Value Fund		5,965		693		181		3			334			—		6,814
Quant Small-Cap Equity Fund		3,673		98		298		18			222			—		3,713
Quant Small/Mid-Cap Equity Fund		2,960		51		236		29			194			—		2,998
Short-Term Bond		45,866		3,022		768		(11	)		(78	)		291		48,031
	$	224,100	$	13,518	$	7,303	$	428		$	2,452		$	1,044	$	233,195
Lifestyle Moderate Fund
TIAA-CREF Funds:
Bond Plus	$	127,212	$	7,891	$	1,742	$	(61	)	$	(309	)	$	1,086	$	132,991
Emerging Markets Equity		10,851		2,070		295		(39	)		(869	)		—		11,718
Growth & Income		30,837		755		1,110		110			2,098			93		32,690
International Equity		15,458		1,722		124		(7	)		(776	)		—		16,273
International Opportunities		12,708		754		83		(1	)		(71	)		—		13,307
Large-Cap Growth		36,350		896		3,493		663			2,104			—		36,520
Large-Cap Value		32,569		3,163		1,236		21			1,569			—		36,086
Quant International Equity Fund		15,364		1,030		760		(53	)		(140	)		—		15,441
Quant International Small-Cap Equity Fund		8,449		866		114		(13	)		(378	)		—		8,810
Quant Large-Cap Growth Fund		14,275		686		1,320		172			1,023			—		14,836
Quant Large-Cap Value Fund		12,919		1,414		371		(2	)		730			—		14,690
Quant Small-Cap Equity Fund		8,158		311		697		35			497			—		8,304
Quant Small/Mid-Cap Equity Fund		6,578		192		550		63			429			—		6,712
	$	331,728	$	21,750	$	11,895	$	888		$	5,907		$	1,179	$	348,378

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

										Change in
										unrealized
	Value at		Purchase		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		8/31/18
Lifestyle Growth Fund
TIAA-CREF Funds:
Bond Plus	$	28,054	$	2,067	$	833	$	(29	)	$	(52	)	$	240	$	29,207
Emerging Markets Equity		6,463		1,215		217		(22	)		(516	)		—		6,923
Growth & Income		18,952		395		664		77			1,283			57		20,043
International Equity		9,504		1,148		181		(7	)		(474	)		—		9,990
International Opportunities		7,811		607		209		10			(52	)		—		8,167
Large-Cap Growth		22,362		560		2,229		490			1,214			—		22,397
Large-Cap Value		20,020		1,928		795		4			976			—		22,133
Quant International Equity Fund		9,049		649		402		(25	)		(88	)		—		9,183
Quant International Small-Cap Equity Fund		5,196		512		58		(5	)		(235	)		—		5,410
Quant Large-Cap Growth Fund		8,669		259		719		104			622			—		8,935
Quant Large-Cap Value Fund		7,837		800		235		(3	)		445			—		8,844
Quant Small-Cap Equity Fund		5,017		140		390		22			307			—		5,096
Quant Small/Mid-Cap Equity Fund		4,041		60		287		37			267			—		4,118
	$	152,975	$	10,340	$	7,219	$	653		$	3,697		$	297	$	160,446
Lifestyle Aggressive Growth Fund
TIAA-CREF Funds:
Emerging Markets Equity	$	5,505	$	960	$	305	$	(34	)	$	(422	)	$	—	$	5,704
Growth & Income		17,674		843		935		80			1,192			54		18,854
International Equity		8,899		1,242		301		(18	)		(435	)		—		9,387
International Opportunities		7,315		731		325		—			(40	)		—		7,681
Large-Cap Growth		20,862		952		2,342		426			1,166			—		21,064
Large-Cap Value		18,701		2,199		997		9			908			—		20,820
Quant International Equity Fund		7,328		792		225		(7	)		(85	)		—		7,803
Quant International Small-Cap Equity Fund		4,863		557		117		(11	)		(214	)		—		5,078
Quant Large-Cap Growth Fund		7,796		364		904		98			556			—		7,910
Quant Large-Cap Value Fund		7,020		831		429		3			396			—		7,821
Quant Small-Cap Equity Fund		4,693		234		440		21			286			—		4,794
Quant Small/Mid-Cap Equity Fund		3,776		155		344		37			248			—		3,872
	$	114,432	$	9,860	$	7,664	$	604		$	3,556		$	54	$	120,788

^ Some amounts represent less than $1,000.

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

Note 4—investments

Fund	Tax cost		Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Lifestyle Income	$	71,825	$	3,004	$	(1,237	)	$	1,767
Lifestyle Conservative		218,825		17,862		(3,492	)		14,370
Lifestyle Moderate		313,309		39,115		(4,046	)		35,069
Lifestyle Growth		137,581		23,666		(800	)		22,866
Lifestyle Aggressive Growth		100,290		20,498		—			20,498

TIAA-CREF FUNDS – Managed Allocation Fund

TIAA-CREF FUNDS
MANAGED ALLOCATION FUND
SCHEDULE OF INVESTMENTS (unaudited)
August 31, 2018

SHARES		SECURITY	VALUE

AFFILIATED INVESTMENT COMPANIES - 99.9%(a)

FIXED INCOME - 38.1%
	33,274,294	TIAA-CREF Bond Plus Fund	$	337,401,337
		TOTAL FIXED INCOME		337,401,337

INTERNATIONAL EQUITY - 18.8%
	2,678,408	TIAA-CREF Emerging Markets Equity Fund		29,676,761
	2,769,738	TIAA-CREF International Equity Fund		34,344,756
	2,491,777	TIAA-CREF International Opportunities Fund		33,813,409
	5,776,297	TIAA-CREF Quant International Equity Fund		46,094,849
	1,933,674	TIAA-CREF Quant International Small-Cap Equity Fund		22,353,270
		TOTAL INTERNATIONAL EQUITY		166,283,045

U.S. EQUITY - 43.0%
	4,902,662	TIAA-CREF Growth & Income Fund		77,756,213
	2,952,854	TIAA-CREF Large-Cap Growth Fund		69,480,664
	3,494,989	TIAA-CREF Large-Cap Value Fund		68,676,536
	4,077,120	TIAA-CREF Quant Large-Cap Growth Fund		63,725,382
	5,925,216	TIAA-CREF Quant Large-Cap Value Fund		63,044,301
	1,009,863	TIAA-CREF Quant Small-Cap Equity Fund		21,550,479
	1,139,758	TIAA-CREF Quant Small/Mid-Cap Equity Fund		15,968,010
		TOTAL U.S. EQUITY		380,201,585

		TOTAL AFFILIATED INVESTMENT COMPANIES		883,885,967
		(Cost $721,451,099)

		TOTAL INVESTMENTS - 99.9%		883,885,967
		(Cost $721,451,099)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		772,510
		NET ASSETS - 100.0%	$	884,658,477

(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 U.S. 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 preparation of the Schedule of investments requires 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.

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:

Transfers between levels are recognized at the end of the reporting period. For the period ended August 31, 2018, there were no transfers between levels by the Fund.

As of August 31, 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 5/31/18		Purchase cost		Sales proceeds		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Dividend income		Value at 8/31/18
Managed Allocation Fund
TIAA-CREF Funds:
Bond Plus	$	333,222	$	8,706	$	3,552	$	(111	)	$	(864	)	$	2,792	$	337,401
Emerging Markets Equity		28,434		4,299		736		(97	)		(2,223	)		—		29,677
Growth & Income		75,757		16		3,354		698			4,639			227		77,756
International Equity		33,767		2,386		136		(4	)		(1,668	)		—		34,345
International Opportunities		33,275		1,206		480		81			(268	)		—		33,814
Large-Cap Growth		71,391		31		7,294		2,478			2,875			—		69,481
Large-Cap Value		64,003		3,817		2,221		101			2,977			—		68,677
Quant International Equity Fund		47,037		1,695		2,073		(109	)		(455	)		—		46,095
Quant International Small-Cap Equity Fund		22,155		1,361		158		(8	)		(997	)		—		22,353
Quant Large-Cap Growth Fund		64,090		367		6,026		1,914			3,380			—		63,725
Quant Large-Cap Value Fund		57,837		3,478		1,472		38			3,163			—		63,044
Quant Small-Cap Equity Fund		21,855		56		1,767		460			946			—		21,550
Quant Small/Mid-Cap Equity Fund		16,125		54		1,403		267			925			—		15,968
	$	868,948	$	27,472	$	30,672	$	5,708		$	12,430		$	3,019	$	883,886

Note 4—investments

Fund		Tax cost				Gross unrealized appreciation				Gross unrealized (depreciation)				Net unrealized appreciation (depreciation)
Managed Allocation		$	727,686			$	160,691			$	(4,491	)		$	156,200

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

Dated: October 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