N-Q

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: February 28, 2019

Item 1. Schedule of Investments.

TIAA-CREF LIFECYCLE FUNDS – Lifecycle Retirement Income Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE RETIREMENT INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.5%a
DIRECT REAL ESTATE - 4.5%
	2,066,707	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-11/21/18; cost $21,927,333)	$	23,477,786
			TOTAL DIRECT REAL ESTATE		23,477,786
FIXED INCOME - 39.5%
	10,777,481		TIAA-CREF Bond Fund		109,175,883
	6,630,095		TIAA-CREF Bond Plus Fund		67,693,266
	1,157,960		TIAA-CREF Emerging Markets Debt Fund		11,185,894
	951,015		TIAA-CREF High-Yield Fund		9,091,701
	1,109,686		TIAA-CREF International Bond Fund		10,852,727
			TOTAL FIXED INCOME		207,999,471
INFLATION-PROTECTED ASSETS - 9.8%
	4,662,965		TIAA-CREF Inflation-Linked Bond Fund		51,898,796
			TOTAL INFLATION-PROTECTED ASSETS		51,898,796
INTERNATIONAL EQUITY - 10.7%
	979,163		TIAA-CREF Emerging Markets Equity Fund		11,015,583
	1,169,688		TIAA-CREF International Equity Fund		12,281,729
	971,292		TIAA-CREF International Opportunities Fund		12,141,145
	1,874,376		TIAA-CREF Quant International Equity Fund		13,139,376
	757,749		TIAA-CREF Quant International Small-Cap Equity Fund		7,607,802
			TOTAL INTERNATIONAL EQUITY		56,185,635
SHORT-TERM FIXED INCOME - 9.8%
	5,068,017		TIAA-CREF Short-Term Bond Fund		51,947,178
			TOTAL SHORT-TERM FIXED INCOME		51,947,178
U.S. EQUITY - 25.2%
	2,039,018		TIAA-CREF Growth & Income Fund		27,832,595
	1,236,234		TIAA-CREF Large-Cap Growth Fund		24,712,321
	1,516,506		TIAA-CREF Large-Cap Value Fund		24,628,054
	1,595,846		TIAA-CREF Quant Large-Cap Growth Fund		21,448,176
	2,182,604		TIAA-CREF Quant Large-Cap Value Fund		21,542,299
	435,875		TIAA-CREF Quant Small-Cap Equity Fund		7,279,107
	464,932		TIAA-CREF Quant Small/Mid-Cap Equity Fund		5,504,791
			TOTAL U.S. EQUITY		132,947,343
			TOTAL AFFILIATED INVESTMENT COMPANIES		524,456,209
			(Cost $493,377,597)
			TOTAL INVESTMENTS - 99.5%		524,456,209
			(Cost $493,377,597)
			OTHER ASSETS & LIABILITIES, NET - 0.5%		2,495,466
			NET ASSETS - 100.0%	$	526,951,675

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $23,477,786 or 4.5% of net assets.

 1

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2010 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2010 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.7%a
DIRECT REAL ESTATE - 4.5%
	4,739,153	b,c	TIAA-CREF Real Property Fund LP (purchased 7/1/16-1/4/19; cost $50,033,655)	$	53,836,774
			TOTAL DIRECT REAL ESTATE		53,836,774
FIXED INCOME - 39.2%
	24,507,067		TIAA-CREF Bond Fund		248,256,594
	15,076,925		TIAA-CREF Bond Plus Fund		153,935,401
	2,635,010		TIAA-CREF Emerging Markets Debt Fund		25,454,199
	2,160,174		TIAA-CREF High-Yield Fund		20,651,266
	2,522,783		TIAA-CREF International Bond Fund		24,672,820
			TOTAL FIXED INCOME		472,970,280
INFLATION-PROTECTED ASSETS - 9.3%
	10,083,617		TIAA-CREF Inflation-Linked Bond Fund		112,230,656
			TOTAL INFLATION-PROTECTED ASSETS		112,230,656
INTERNATIONAL EQUITY - 11.1%
	2,318,161		TIAA-CREF Emerging Markets Equity Fund		26,079,305
	2,783,745		TIAA-CREF International Equity Fund		29,229,327
	2,309,473		TIAA-CREF International Opportunities Fund		28,868,419
	4,486,477		TIAA-CREF Quant International Equity Fund		31,450,205
	1,805,764		TIAA-CREF Quant International Small-Cap Equity Fund		18,129,866
			TOTAL INTERNATIONAL EQUITY		133,757,122
SHORT-TERM FIXED INCOME - 9.3%
	10,961,970		TIAA-CREF Short-Term Bond Fund		112,360,189
			TOTAL SHORT-TERM FIXED INCOME		112,360,189
U.S. EQUITY - 26.3%
	4,852,487		TIAA-CREF Growth & Income Fund		66,236,450
	2,943,027		TIAA-CREF Large-Cap Growth Fund		58,831,102
	3,608,551		TIAA-CREF Large-Cap Value Fund		58,602,875
	3,804,520		TIAA-CREF Quant Large-Cap Growth Fund		51,132,746
	5,206,050		TIAA-CREF Quant Large-Cap Value Fund		51,383,716
	1,037,570		TIAA-CREF Quant Small-Cap Equity Fund		17,327,419
	1,103,916		TIAA-CREF Quant Small/Mid-Cap Equity Fund		13,070,360
			TOTAL U.S. EQUITY		316,584,668
			TOTAL AFFILIATED INVESTMENT COMPANIES		1,201,739,689
			(Cost $1,071,853,069)
			TOTAL INVESTMENTS - 99.7%		1,201,739,689
			(Cost $1,071,853,069)
			OTHER ASSETS & LIABILITIES, NET - 0.3%		3,761,280
			NET ASSETS - 100.0%	$	1,205,500,969

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $53,836,774 or 4.5% of net assets.

 2

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2015 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2015 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.5%a
DIRECT REAL ESTATE - 4.5%
	7,270,193	b,c	TIAA-CREF Real Property Fund LP (purchased 11/28/16-12/17/18; cost $77,318,012)	$	82,589,391
			TOTAL DIRECT REAL ESTATE		82,589,391
FIXED INCOME - 38.1%
	36,663,999		TIAA-CREF Bond Fund		371,406,310
	22,541,564		TIAA-CREF Bond Plus Fund		230,149,373
	3,960,449		TIAA-CREF Emerging Markets Debt Fund		38,257,935
	3,221,339		TIAA-CREF High-Yield Fund		30,796,005
	3,774,603		TIAA-CREF International Bond Fund		36,915,621
			TOTAL FIXED INCOME		707,525,244
INFLATION-PROTECTED ASSETS - 7.3%
	12,203,849		TIAA-CREF Inflation-Linked Bond Fund		135,828,842
			TOTAL INFLATION-PROTECTED ASSETS		135,828,842
INTERNATIONAL EQUITY - 12.6%
	3,973,552		TIAA-CREF Emerging Markets Equity Fund		44,702,461
	4,858,281		TIAA-CREF International Equity Fund		51,011,950
	4,043,353		TIAA-CREF International Opportunities Fund		50,541,912
	7,912,575		TIAA-CREF Quant International Equity Fund		55,467,149
	3,137,163		TIAA-CREF Quant International Small-Cap Equity Fund		31,497,115
			TOTAL INTERNATIONAL EQUITY		233,220,587
SHORT-TERM FIXED INCOME - 7.3%
	13,262,406		TIAA-CREF Short-Term Bond Fund		135,939,666
			TOTAL SHORT-TERM FIXED INCOME		135,939,666
U.S. EQUITY - 29.7%
	8,446,145		TIAA-CREF Growth & Income Fund		115,289,878
	5,134,256		TIAA-CREF Large-Cap Growth Fund		102,633,785
	6,284,866		TIAA-CREF Large-Cap Value Fund		102,066,221
	6,613,762		TIAA-CREF Quant Large-Cap Growth Fund		88,888,965
	9,054,272		TIAA-CREF Quant Large-Cap Value Fund		89,365,663
	1,806,178		TIAA-CREF Quant Small-Cap Equity Fund		30,163,177
	1,920,729		TIAA-CREF Quant Small/Mid-Cap Equity Fund		22,741,433
			TOTAL U.S. EQUITY		551,149,122
			TOTAL AFFILIATED INVESTMENT COMPANIES		1,846,252,852
			(Cost $1,841,556,087)
			TOTAL INVESTMENTS - 99.5%		1,846,252,852
			(Cost $1,841,556,087)
			OTHER ASSETS & LIABILITIES, NET - 0.5%		9,064,985
			NET ASSETS - 100.0%	$	1,855,317,837

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $82,589,391 or 4.5% of net assets.

 3

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2020 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2020 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.3%a
DIRECT REAL ESTATE - 4.5%
	14,769,870	b,c	TIAA-CREF Real Property Fund LP (purchased 11/28/16-1/4/19; cost $157,153,161)	$	167,785,726
			TOTAL DIRECT REAL ESTATE		167,785,726
FIXED INCOME - 36.0%
	70,320,644		TIAA-CREF Bond Fund		712,348,120
	43,261,964		TIAA-CREF Bond Plus Fund		441,704,652
	7,640,750		TIAA-CREF Emerging Markets Debt Fund		73,809,644
	6,123,782		TIAA-CREF High-Yield Fund		58,543,360
	7,242,154		TIAA-CREF International Bond Fund		70,828,264
			TOTAL FIXED INCOME		1,357,234,040
INFLATION-PROTECTED ASSETS - 5.3%
	18,076,341		TIAA-CREF Inflation-Linked Bond Fund		201,189,672
			TOTAL INFLATION-PROTECTED ASSETS		201,189,672
INTERNATIONAL EQUITY - 14.3%
	9,083,609		TIAA-CREF Emerging Markets Equity Fund		102,190,602
	11,260,106		TIAA-CREF International Equity Fund		118,231,114
	9,349,379		TIAA-CREF International Opportunities Fund		116,867,242
	18,600,621		TIAA-CREF Quant International Equity Fund		130,390,353
	7,283,563		TIAA-CREF Quant International Small-Cap Equity Fund		73,126,977
			TOTAL INTERNATIONAL EQUITY		540,806,288
SHORT-TERM FIXED INCOME - 5.3%
	19,646,398		TIAA-CREF Short-Term Bond Fund		201,375,576
			TOTAL SHORT-TERM FIXED INCOME		201,375,576
U.S. EQUITY - 33.9%
	19,628,959		TIAA-CREF Growth & Income Fund		267,935,290
	11,907,812		TIAA-CREF Large-Cap Growth Fund		238,037,158
	14,601,001		TIAA-CREF Large-Cap Value Fund		237,120,259
	15,357,321		TIAA-CREF Quant Large-Cap Growth Fund		206,402,396
	21,033,367		TIAA-CREF Quant Large-Cap Value Fund		207,599,328
	4,198,439		TIAA-CREF Quant Small-Cap Equity Fund		70,113,929
	4,458,853		TIAA-CREF Quant Small/Mid-Cap Equity Fund		52,792,825
			TOTAL U.S. EQUITY		1,280,001,185
			TOTAL AFFILIATED INVESTMENT COMPANIES		3,748,392,487
			(Cost $3,699,394,043)
			TOTAL INVESTMENTS - 99.3%		3,748,392,487
			(Cost $3,699,394,043)
			OTHER ASSETS & LIABILITIES, NET - 0.7%		25,421,611
			NET ASSETS - 100.0%	$	3,773,814,098

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $167,785,726 or 4.5% of net assets.

 4

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2025 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2025 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.3%a
DIRECT REAL ESTATE - 4.4%
	17,502,866	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-1/4/19; cost $186,114,266)	$	198,832,560
			TOTAL DIRECT REAL ESTATE		198,832,560
FIXED INCOME - 31.1%
	72,071,738		TIAA-CREF Bond Fund		730,086,705
	44,338,979		TIAA-CREF Bond Plus Fund		452,700,971
	8,006,639		TIAA-CREF Emerging Markets Debt Fund		77,344,134
	6,121,766		TIAA-CREF High-Yield Fund		58,524,082
	7,419,146		TIAA-CREF International Bond Fund		72,559,246
			TOTAL FIXED INCOME		1,391,215,138
INFLATION-PROTECTED ASSETS - 3.4%
	13,535,796		TIAA-CREF Inflation-Linked Bond Fund		150,653,406
			TOTAL INFLATION-PROTECTED ASSETS		150,653,406
INTERNATIONAL EQUITY - 16.9%
	12,521,001		TIAA-CREF Emerging Markets Equity Fund		140,861,260
	15,805,902		TIAA-CREF International Equity Fund		165,961,970
	13,174,041		TIAA-CREF International Opportunities Fund		164,675,507
	26,457,451		TIAA-CREF Quant International Equity Fund		185,466,732
	10,178,593		TIAA-CREF Quant International Small-Cap Equity Fund		102,193,071
			TOTAL INTERNATIONAL EQUITY		759,158,540
SHORT-TERM FIXED INCOME - 3.4%
	14,716,528		TIAA-CREF Short-Term Bond Fund		150,844,411
			TOTAL SHORT-TERM FIXED INCOME		150,844,411
U.S. EQUITY - 40.1%
	27,571,684		TIAA-CREF Growth & Income Fund		376,353,489
	16,739,892		TIAA-CREF Large-Cap Growth Fund		334,630,451
	20,475,679		TIAA-CREF Large-Cap Value Fund		332,525,031
	21,552,906		TIAA-CREF Quant Large-Cap Growth Fund		289,671,054
	29,489,930		TIAA-CREF Quant Large-Cap Value Fund		291,065,609
	5,893,578		TIAA-CREF Quant Small-Cap Equity Fund		98,422,760
	6,271,462		TIAA-CREF Quant Small/Mid-Cap Equity Fund		74,254,110
			TOTAL U.S. EQUITY		1,796,922,504
			TOTAL AFFILIATED INVESTMENT COMPANIES		4,447,626,559
			(Cost $4,350,562,287)
			TOTAL INVESTMENTS - 99.3%		4,447,626,559
			(Cost $4,350,562,287)
			OTHER ASSETS & LIABILITIES, NET - 0.7%		30,200,673
			NET ASSETS - 100.0%	$	4,477,827,232

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $198,832,560 or 4.4% of net assets.

 5

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2030 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2030 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.3%a
DIRECT REAL ESTATE - 4.4%
	17,379,833	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-12/21/18; cost $184,607,289)	$	197,434,902
			TOTAL DIRECT REAL ESTATE		197,434,902
FIXED INCOME - 26.2%
	60,411,484		TIAA-CREF Bond Fund		611,968,332
	37,148,779		TIAA-CREF Bond Plus Fund		379,289,029
	6,874,846		TIAA-CREF Emerging Markets Debt Fund		66,411,015
	4,952,629		TIAA-CREF High-Yield Fund		47,347,130
	6,227,554		TIAA-CREF International Bond Fund		60,905,479
			TOTAL FIXED INCOME		1,165,920,985
INFLATION-PROTECTED ASSETS - 1.4%
	5,617,291		TIAA-CREF Inflation-Linked Bond Fund		62,520,454
			TOTAL INFLATION-PROTECTED ASSETS		62,520,454
INTERNATIONAL EQUITY - 19.6%
	14,222,892		TIAA-CREF Emerging Markets Equity Fund		160,007,534
	18,100,180		TIAA-CREF International Equity Fund		190,051,885
	15,155,348		TIAA-CREF International Opportunities Fund		189,441,856
	30,625,421		TIAA-CREF Quant International Equity Fund		214,684,201
	11,679,527		TIAA-CREF Quant International Small-Cap Equity Fund		117,262,448
			TOTAL INTERNATIONAL EQUITY		871,447,924
SHORT-TERM FIXED INCOME - 1.4%
	6,108,923		TIAA-CREF Short-Term Bond Fund		62,616,463
			TOTAL SHORT-TERM FIXED INCOME		62,616,463
U.S. EQUITY - 46.3%
	31,639,258		TIAA-CREF Growth & Income Fund		431,875,866
	19,194,106		TIAA-CREF Large-Cap Growth Fund		383,690,183
	23,438,457		TIAA-CREF Large-Cap Value Fund		380,640,542
	24,699,753		TIAA-CREF Quant Large-Cap Growth Fund		331,964,686
	33,793,041		TIAA-CREF Quant Large-Cap Value Fund		333,537,311
	6,749,872		TIAA-CREF Quant Small-Cap Equity Fund		112,722,856
	7,185,310		TIAA-CREF Quant Small/Mid-Cap Equity Fund		85,074,066
			TOTAL U.S. EQUITY		2,059,505,510
			TOTAL AFFILIATED INVESTMENT COMPANIES		4,419,446,238
			(Cost $4,280,735,404)
			TOTAL INVESTMENTS - 99.3%		4,419,446,238
			(Cost $4,280,735,404)
			OTHER ASSETS & LIABILITIES, NET - 0.7%		31,066,031
			NET ASSETS - 100.0%	$	4,450,512,269

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $197,434,902 or 4.4% of net assets.

 6

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2035 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2035 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.4%a
DIRECT REAL ESTATE - 4.4%
	17,692,616	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/25/19; cost $188,061,064)	$	200,988,112
			TOTAL DIRECT REAL ESTATE		200,988,112
FIXED INCOME - 20.3%
	47,731,920		TIAA-CREF Bond Fund		483,524,354
	29,347,532		TIAA-CREF Bond Plus Fund		299,638,297
	5,692,861		TIAA-CREF Emerging Markets Debt Fund		54,993,035
	3,637,456		TIAA-CREF High-Yield Fund		34,774,081
	4,917,152		TIAA-CREF International Bond Fund		48,089,750
			TOTAL FIXED INCOME		921,019,517
INTERNATIONAL EQUITY - 22.2%
	16,239,397		TIAA-CREF Emerging Markets Equity Fund		182,693,215
	20,988,242		TIAA-CREF International Equity Fund		220,376,538
	17,391,528		TIAA-CREF International Opportunities Fund		217,394,097
	35,548,735		TIAA-CREF Quant International Equity Fund		249,196,630
	13,523,410		TIAA-CREF Quant International Small-Cap Equity Fund		135,775,041
			TOTAL INTERNATIONAL EQUITY		1,005,435,521
U.S. EQUITY - 52.5%
	36,418,226		TIAA-CREF Growth & Income Fund		497,108,779
	22,126,926		TIAA-CREF Large-Cap Growth Fund		442,317,244
	27,081,814		TIAA-CREF Large-Cap Value Fund		439,808,667
	28,513,771		TIAA-CREF Quant Large-Cap Growth Fund		383,225,083
	39,065,958		TIAA-CREF Quant Large-Cap Value Fund		385,581,001
	7,782,130		TIAA-CREF Quant Small-Cap Equity Fund		129,961,567
	8,279,413		TIAA-CREF Quant Small/Mid-Cap Equity Fund		98,028,246
			TOTAL U.S. EQUITY		2,376,030,587
			TOTAL AFFILIATED INVESTMENT COMPANIES		4,503,473,737
			(Cost $4,310,820,229)
			TOTAL INVESTMENTS - 99.4%		4,503,473,737
			(Cost $4,310,820,229)
			OTHER ASSETS & LIABILITIES, NET - 0.6%		28,172,652
			NET ASSETS - 100.0%	$	4,531,646,389

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $200,988,112 or 4.4% of net assets.

 7

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2040 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2040 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.5%a
DIRECT REAL ESTATE - 4.4%
	21,315,853	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/25/19; cost $226,585,797)	$	242,148,094
			TOTAL DIRECT REAL ESTATE		242,148,094
FIXED INCOME - 11.6%
	32,750,003		TIAA-CREF Bond Fund		331,757,535
	20,084,691		TIAA-CREF Bond Plus Fund		205,064,695
	4,507,703		TIAA-CREF Emerging Markets Debt Fund		43,544,410
	1,883,530		TIAA-CREF High-Yield Fund		18,006,551
	3,373,400		TIAA-CREF International Bond Fund		32,991,848
			TOTAL FIXED INCOME		631,365,039
INTERNATIONAL EQUITY - 24.8%
	21,761,743		TIAA-CREF Emerging Markets Equity Fund		244,819,605
	28,030,582		TIAA-CREF International Equity Fund		294,321,113
	23,534,317		TIAA-CREF International Opportunities Fund		294,178,960
	48,091,258		TIAA-CREF Quant International Equity Fund		337,119,721
	18,093,813		TIAA-CREF Quant International Small-Cap Equity Fund		181,661,879
			TOTAL INTERNATIONAL EQUITY		1,352,101,278
U.S. EQUITY - 58.7%
	49,049,225		TIAA-CREF Growth & Income Fund		669,521,921
	29,808,698		TIAA-CREF Large-Cap Growth Fund		595,875,880
	36,436,759		TIAA-CREF Large-Cap Value Fund		591,732,973
	38,332,239		TIAA-CREF Quant Large-Cap Growth Fund		515,185,297
	52,545,970		TIAA-CREF Quant Large-Cap Value Fund		518,628,725
	10,485,238		TIAA-CREF Quant Small-Cap Equity Fund		175,103,468
	11,134,534		TIAA-CREF Quant Small/Mid-Cap Equity Fund		131,832,878
			TOTAL U.S. EQUITY		3,197,881,142
			TOTAL AFFILIATED INVESTMENT COMPANIES		5,423,495,553
			(Cost $5,137,180,865)
			TOTAL INVESTMENTS - 99.5%		5,423,495,553
			(Cost $5,137,180,865)
			OTHER ASSETS & LIABILITIES, NET - 0.5%		27,130,803
			NET ASSETS - 100.0%	$	5,450,626,356

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $242,148,094 or 4.4% of net assets.

 8

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2045 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2045 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.5%a
DIRECT REAL ESTATE - 4.4%
	11,838,469	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/25/19; cost $126,307,188)	$	134,485,006
			TOTAL DIRECT REAL ESTATE		134,485,006
FIXED INCOME - 5.0%
	7,858,014		TIAA-CREF Bond Fund		79,601,683
	4,862,805		TIAA-CREF Bond Plus Fund		49,649,239
	1,339,255		TIAA-CREF Emerging Markets Debt Fund		12,937,207
	210,202		TIAA-CREF High-Yield Fund		2,009,526
	810,845		TIAA-CREF International Bond Fund		7,930,062
			TOTAL FIXED INCOME		152,127,717
INTERNATIONAL EQUITY - 26.8%
	12,990,915		TIAA-CREF Emerging Markets Equity Fund		146,147,790
	16,893,060		TIAA-CREF International Equity Fund		177,377,128
	14,072,655		TIAA-CREF International Opportunities Fund		175,908,193
	28,969,052		TIAA-CREF Quant International Equity Fund		203,073,054
	10,899,984		TIAA-CREF Quant International Small-Cap Equity Fund		109,435,839
			TOTAL INTERNATIONAL EQUITY		811,942,004
U.S. EQUITY - 63.3%
	29,303,862		TIAA-CREF Growth & Income Fund		399,997,713
	17,860,179		TIAA-CREF Large-Cap Growth Fund		357,024,978
	21,829,889		TIAA-CREF Large-Cap Value Fund		354,517,401
	22,999,289		TIAA-CREF Quant Large-Cap Growth Fund		309,110,449
	31,556,356		TIAA-CREF Quant Large-Cap Value Fund		311,461,236
	6,291,266		TIAA-CREF Quant Small-Cap Equity Fund		105,064,141
	6,714,112		TIAA-CREF Quant Small/Mid-Cap Equity Fund		79,495,082
			TOTAL U.S. EQUITY		1,916,671,000
			TOTAL AFFILIATED INVESTMENT COMPANIES		3,015,225,727
			(Cost $2,714,258,017)
			TOTAL INVESTMENTS - 99.5%		3,015,225,727
			(Cost $2,714,258,017)
			OTHER ASSETS & LIABILITIES, NET - 0.5%		15,161,655
			NET ASSETS - 100.0%	$	3,030,387,382

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $134,485,006 or 4.4% of net assets.

 9

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2050 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2050 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.5%a
DIRECT REAL ESTATE - 4.4%
	7,853,575	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/25/19; cost $83,919,954)	$	89,216,617
			TOTAL DIRECT REAL ESTATE		89,216,617
FIXED INCOME - 3.8%
	3,927,568		TIAA-CREF Bond Fund		39,786,261
	2,436,941		TIAA-CREF Bond Plus Fund		24,881,171
	642,502		TIAA-CREF Emerging Markets Debt Fund		6,206,570
	134,654		TIAA-CREF High-Yield Fund		1,287,289
	405,789		TIAA-CREF International Bond Fund		3,968,616
			TOTAL FIXED INCOME		76,129,907
INTERNATIONAL EQUITY - 27.2%
	8,722,116		TIAA-CREF Emerging Markets Equity Fund		98,123,810
	11,348,898		TIAA-CREF International Equity Fund		119,163,426
	9,458,322		TIAA-CREF International Opportunities Fund		118,229,028
	19,498,819		TIAA-CREF Quant International Equity Fund		136,686,724
	7,331,944		TIAA-CREF Quant International Small-Cap Equity Fund		73,612,718
			TOTAL INTERNATIONAL EQUITY		545,815,706
U.S. EQUITY - 64.1%
	19,704,394		TIAA-CREF Growth & Income Fund		268,964,978
	12,013,894		TIAA-CREF Large-Cap Growth Fund		240,157,742
	14,677,829		TIAA-CREF Large-Cap Value Fund		238,367,939
	15,447,973		TIAA-CREF Quant Large-Cap Growth Fund		207,620,764
	21,179,981		TIAA-CREF Quant Large-Cap Value Fund		209,046,417
	4,226,058		TIAA-CREF Quant Small-Cap Equity Fund		70,575,174
	4,502,798		TIAA-CREF Quant Small/Mid-Cap Equity Fund		53,313,124
			TOTAL U.S. EQUITY		1,288,046,138
			TOTAL AFFILIATED INVESTMENT COMPANIES		1,999,208,368
			(Cost $1,821,959,609)
			TOTAL INVESTMENTS - 99.5%		1,999,208,368
			(Cost $1,821,959,609)
			OTHER ASSETS & LIABILITIES, NET - 0.5%		10,724,305
			NET ASSETS - 100.0%	$	2,009,932,673

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $89,216,617 or 4.4% of net assets.

 10

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2055 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2055 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.3%a
DIRECT REAL ESTATE - 4.4%
	2,644,968	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/25/19; cost $28,458,908)	$	30,046,835
			TOTAL DIRECT REAL ESTATE		30,046,835
FIXED INCOME - 2.6%
	915,549		TIAA-CREF Bond Fund		9,274,509
	568,187		TIAA-CREF Bond Plus Fund		5,801,188
	136,681		TIAA-CREF Emerging Markets Debt Fund		1,320,339
	44,182		TIAA-CREF High-Yield Fund		422,377
	92,414		TIAA-CREF International Bond Fund		903,806
			TOTAL FIXED INCOME		17,722,219
INTERNATIONAL EQUITY - 27.5%
	2,976,701		TIAA-CREF Emerging Markets Equity Fund		33,487,885
	3,885,490		TIAA-CREF International Equity Fund		40,797,644
	3,223,014		TIAA-CREF International Opportunities Fund		40,287,671
	6,655,556		TIAA-CREF Quant International Equity Fund		46,655,448
	2,504,914		TIAA-CREF Quant International Small-Cap Equity Fund		25,149,333
			TOTAL INTERNATIONAL EQUITY		186,377,981
U.S. EQUITY - 64.8%
	6,739,439		TIAA-CREF Growth & Income Fund		91,993,348
	4,097,160		TIAA-CREF Large-Cap Growth Fund		81,902,227
	5,017,861		TIAA-CREF Large-Cap Value Fund		81,490,058
	5,274,933		TIAA-CREF Quant Large-Cap Growth Fund		70,895,100
	7,239,407		TIAA-CREF Quant Large-Cap Value Fund		71,452,947
	1,446,842		TIAA-CREF Quant Small-Cap Equity Fund		24,162,255
	1,538,442		TIAA-CREF Quant Small/Mid-Cap Equity Fund		18,215,155
			TOTAL U.S. EQUITY		440,111,090
			TOTAL AFFILIATED INVESTMENT COMPANIES		674,258,125
			(Cost $646,096,233)
			TOTAL INVESTMENTS - 99.3%		674,258,125
			(Cost $646,096,233)
			OTHER ASSETS & LIABILITIES, NET - 0.7%		4,600,580
			NET ASSETS - 100.0%	$	678,858,705

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $30,046,835 or 4.4% of net assets.

 11

TIAA-CREF LIFECYCLE FUNDS – Lifecycle 2060 Fund

TIAA-CREF LIFECYCLE FUNDS
LIFECYCLE 2060 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES			SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 98.3%a
DIRECT REAL ESTATE - 4.4%
	444,608	b,c	TIAA-CREF Real Property Fund LP (purchased 8/1/16-2/25/19; cost $4,807,936)	$	5,050,744
			TOTAL DIRECT REAL ESTATE		5,050,744
FIXED INCOME - 1.4%
	84,383		TIAA-CREF Bond Fund		854,795
	51,908		TIAA-CREF Bond Plus Fund		529,986
	8,025		TIAA-CREF Emerging Markets Debt Fund		77,519
	8,535		TIAA-CREF High-Yield Fund		81,599
	8,693		TIAA-CREF International Bond Fund		85,015
			TOTAL FIXED INCOME		1,628,914
INTERNATIONAL EQUITY - 27.5%
	505,410		TIAA-CREF Emerging Markets Equity Fund		5,685,864
	663,664		TIAA-CREF International Equity Fund		6,968,471
	548,790		TIAA-CREF International Opportunities Fund		6,859,879
	1,138,310		TIAA-CREF Quant International Equity Fund		7,979,552
	427,845		TIAA-CREF Quant International Small-Cap Equity Fund		4,295,568
			TOTAL INTERNATIONAL EQUITY		31,789,334
U.S. EQUITY - 65.0%
	1,145,244		TIAA-CREF Growth & Income Fund		15,632,582
	699,568		TIAA-CREF Large-Cap Growth Fund		13,984,361
	856,927		TIAA-CREF Large-Cap Value Fund		13,916,502
	904,073		TIAA-CREF Quant Large-Cap Growth Fund		12,150,738
	1,237,760		TIAA-CREF Quant Large-Cap Value Fund		12,216,690
	246,921		TIAA-CREF Quant Small-Cap Equity Fund		4,123,585
	262,487		TIAA-CREF Quant Small/Mid-Cap Equity Fund		3,107,846
			TOTAL U.S. EQUITY		75,132,304
			TOTAL AFFILIATED INVESTMENT COMPANIES		113,601,296
			(Cost $113,782,160)
			TOTAL INVESTMENTS - 98.3%		113,601,296
			(Cost $113,782,160)
			OTHER ASSETS & LIABILITIES, NET - 1.7%		1,953,307
			NET ASSETS - 100.0%	$	115,554,603

a	The Fund invests its assets in the affiliated TIAA-CREF Real Property Fund LP and Class W shares of the affiliated TIAA-CREF Funds.
b	Indicates a security that has been deemed illiquid.
c	Restricted security. At 2/28/19, the total value of this security amounted to $5,050,744 or 4.4% of net assets.

 12

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 Class W 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.

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 October 1, 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.

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 schedules 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 removes or modifies certain disclosures required for fair value measurements. This guidance is effective for fiscal years beginning after December 15, 2019. Management has early implemented this accounting pronouncement for the November 30, 2018 semi-annual report. This implementation did not have a material impact on the Funds’ notes disclosures. Refer to Note 2 for further details.

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 or results of operations.

 13

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

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 establishment of the liquidity risk management program and the 15% illiquid investment limit, were implemented by the December 1, 2018 compliance date. This portion of the implementation did not have a material impact on the Funds’ financial statements and various filings. In February 2018, the Commission issued Release No. IC-33142, which delayed certain 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 these provisions on the Funds’ financial statements and various filings.

Note 2—valuation of investments

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

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

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

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

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

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

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

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

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

The following table summarizes the market value of the Funds’ investments as of February 28, 2019, based on the inputs used to value them:

 14

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

Fund	Level 1		Level 2		Level 3		Fair value using practical expedienta		Total
Lifecycle Retirement Income
Registered investment companies	$	500,978,423	$	—	$	—	$	—	$	500,978,423
TIAA-CREF Real Property Fund LP		—		—		—		23,477,786		23,477,786
Total	$	500,978,423	$	—	$	—	$	23,477,786	$	524,456,209
Lifecycle 2010
Registered investment companies	$	1,147,902,915	$	—	$	—	$	—	$	1,147,902,915
TIAA-CREF Real Property Fund LP		—		—		—		53,836,774		53,836,774
Total	$	1,147,902,915	$	—	$	—	$	53,836,774	$	1,201,739,689
Lifecycle 2015
Registered investment companies	$	1,763,663,461	$	—	$	—	$	—	$	1,763,663,461
TIAA-CREF Real Property Fund LP		—		—		—		82,589,391		82,589,391
Total	$	1,763,663,461	$	—	$	—	$	82,589,391	$	1,846,252,852
Lifecycle 2020
Registered investment companies	$	3,580,606,761	$	—	$	—	$	—	$	3,580,606,761
TIAA-CREF Real Property Fund LP		—		—		—		167,785,726		167,785,726
Total	$	3,580,606,761	$	—	$	—	$	167,785,726	$	3,748,392,487
Lifecycle 2025
Registered investment companies	$	4,248,793,999	$	—	$	—	$	—	$	4,248,793,999
TIAA-CREF Real Property Fund LP		—		—		—		198,832,560		198,832,560
Total	$	4,248,793,999	$	—	$	—	$	198,832,560	$	4,447,626,559
Lifecycle 2030
Registered investment companies	$	4,222,011,336	$	—	$	—	$	—	$	4,222,011,336
TIAA-CREF Real Property Fund LP		—		—		—		197,434,902		197,434,902
Total	$	4,222,011,336	$	—	$	—	$	197,434,902	$	4,419,446,238
Lifecycle 2035
Registered investment companies	$	4,302,485,625	$	—	$	—	$	—	$	4,302,485,625
TIAA-CREF Real Property Fund LP		—		—		—		200,988,112		200,988,112
Total	$	4,302,485,625	$	—	$	—	$	200,988,112	$	4,503,473,737
Lifecycle 2040
Registered investment companies	$	5,181,347,459	$	—	$	—	$	—	$	5,181,347,459
TIAA-CREF Real Property Fund LP		—		—		—		242,148,094		242,148,094
Total	$	5,181,347,459	$	—	$	—	$	242,148,094	$	5,423,495,553
Lifecycle 2045
Registered investment companies	$	2,880,740,721	$	—	$	—	$	—	$	2,880,740,721
TIAA-CREF Real Property Fund LP		—		—		—		134,485,006		134,485,006
Total	$	2,880,740,721	$	—	$	—	$	134,485,006	$	3,015,225,727
Lifecycle 2050
Registered investment companies	$	1,909,991,751	$	—	$	—	$	—	$	1,909,991,751
TIAA-CREF Real Property Fund LP		—		—		—		89,216,617		89,216,617
Total	$	1,909,991,751	$	—	$	—	$	89,216,617	$	1,999,208,368
Lifecycle 2055
Registered investment companies	$	644,211,290	$	—	$	—	$	—	$	644,211,290
TIAA-CREF Real Property Fund LP		—		—		—		30,046,835		30,046,835
Total	$	644,211,290	$	—	$	—	$	30,046,835	$	674,258,125
Lifecycle 2060
Registered investment companies	$	108,550,552	$	—	$	—	$	—	$	108,550,552
TIAA-CREF Real Property Fund LP		—		—		—		5,050,744		5,050,744
Total	$	108,550,552	$	—	$	—	$	5,050,744	$	113,601,296

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

 15

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

Note 3—investment adviser and affiliates

Investments in other investment companies advised by Advisors are deemed to be affiliated investments. The Funds invest their assets in the TIAA-CREF Real Property Fund LP and in the Class W shares of the affiliated TIAA-CREF Funds. On September 28, 2018, the Funds exchanged Institutional Class shares of the affiliated TIAA-CREF Funds for Class W shares of the affiliated TIAA-CREF Funds. These exchanges did not have an impact and are not included in the following tables (see Note 1 for details). Information regarding transactions with affiliated companies is as follows (dollar amounts are in thousands^):

										Change in
										unrealized
	Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		2/28/19
Lifecycle Retirement Income Fund
TIAA-CREF Funds:
Bond	$	110,889	$	17,047	$	18,990	$	(582	)	$	812		$	2,825	$	109,176
Bond Plus		71,084		7,615		11,174		(532	)		700			1,876		67,693
Emerging Markets Debt		10,283		3,062		2,149		(133	)		123			494		11,186
Emerging Markets Equity		10,698		4,085		3,135		221			(463	)		79		11,015
Growth & Income		29,041		6,887		6,338		2,881			(2,696	)		291		27,833
High-Yield		10,893		1,113		2,928		(12	)		26			431		9,092
Inflation-Linked Bond		54,602		6,152		7,927		(64	)		(864	)		1,406		51,899
International Bond		9,195		3,911		2,171		(32	)		(50	)		437		10,853
International Equity		12,966		4,329		2,367		503			(2,602	)		282		12,282
International Opportunities		12,773		2,608		2,216		36			(1,060	)		171		12,141
Large-Cap Growth		27,393		7,548		8,782		4,487			(3,361	)		156		24,712
Large-Cap Value		24,537		8,773		5,567		2,339			(3,388	)		479		24,628
Quant International Equity		17,578		3,199		5,400		667			(2,284	)		493		13,139
Quant International Small-Cap Equity		8,507		1,834		1,257		27			(1,288	)		229		7,608
Quant Large-Cap Growth		23,854		5,551		6,917		2,581			(2,147	)		257		21,448
Quant Large-Cap Value		21,504		6,003		5,643		853			(677	)		507		21,542
Quant Small-Cap Equity		8,374		2,549		2,601		1,343			(1,365	)		58		7,279
Quant Small/Mid-Cap Equity		6,191		1,576		1,890		677			(534	)		48		5,505
Short-Term Bond		57,257		7,550		12,931		(67	)		138			1,119		51,947
TIAA-CREF Real Property Fund LPa		18,923		6,294		2,514		33			742			529		23,478
	$	546,542	$	107,686	$	112,897	$	15,226		$	(20,238	)	$	12,167	$	524,456
Lifecycle 2010 Fund
TIAA-CREF Funds:
Bond	$	251,589	$	34,957	$	38,955	$	(1,120	)	$	1,786		$	6,354	$	248,257
Bond Plus		161,327		12,056		19,913		(816	)		1,282			4,218		153,936
Emerging Markets Debt		23,319		6,908		4,772		(316	)		315			1,111		25,454
Emerging Markets Equity		25,722		7,947		6,100		850			(1,404	)		189		26,079
Growth & Income		70,494		14,148		14,206		6,636			(6,166	)		695		66,237
High-Yield		24,642		1,974		5,999		(169	)		203			971		20,651
Inflation-Linked Bond		114,639		13,380		13,906		(213	)		(1,669	)		2,960		112,231
International Bond		20,803		8,230		4,184		(69	)		(107	)		990		24,673
International Equity		31,414		9,254		5,123		1,058			(6,059	)		678		29,229
International Opportunities		30,981		5,164		4,839		126			(2,564	)		413		28,868
Large-Cap Growth		66,384		15,441		19,556		12,940			(10,248	)		373		58,831
Large-Cap Value		59,555		18,722		12,196		5,414			(7,934	)		1,149		58,603
Quant International Equity		42,315		6,231		11,774		1,901			(5,727	)		1,187		31,450
Quant International Small-Cap Equity		20,611		4,044		3,003		204			(3,210	)		552		18,130
Quant Large-Cap Growth		57,894		10,952		15,248		6,797			(5,715	)		618		51,133
Quant Large-Cap Value		52,128		11,461		11,442		1,782			(1,350	)		1,217		51,384
Quant Small-Cap Equity		20,327		5,785		6,301		3,468			(3,503	)		138		17,327
Quant Small/Mid-Cap Equity		15,019		3,350		4,413		1,815			(1,466	)		115		13,070
Short-Term Bond		120,585		15,075		23,471		13			158			2,367		112,360
TIAA-CREF Real Property Fund LPa		43,476		14,763		6,156		30			1,724			1,200		53,837
	$	1,253,224	$	219,842	$	231,557	$	40,331		$	(51,654	)	$	27,495	$	1,201,740

 16

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

										Change in
										unrealized
	Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		2/28/19
Lifecycle 2015 Fund
TIAA-CREF Funds:
Bond	$	377,792	$	53,037	$	60,362	$	(3,584	)	$	4,523		$	9,478	$	371,406
Bond Plus		242,603		15,521		28,626		(1,464	)		2,115			6,299		230,149
Emerging Markets Debt		35,198		10,186		7,114		(433	)		421			1,658		38,258
Emerging Markets Equity		44,310		12,090		9,119		520			(1,516	)		319		44,702
Growth & Income		122,720		22,028		22,338		11,116			(10,189	)		1,206		115,290
High-Yield		37,143		2,357		8,767		(484	)		547			1,443		30,796
Inflation-Linked Bond		138,161		16,372		16,437		(1,306	)		(961	)		3,560		135,829
International Bond		31,114		12,561		6,508		(166	)		(85	)		1,460		36,916
International Equity		54,832		12,532		5,517		1,332			(9,901	)		1,169		51,012
International Opportunities		53,894		7,899		7,045		75			(4,281	)		710		50,542
Large-Cap Growth		115,828		24,128		31,525		16,948			(12,138	)		645		102,634
Large-Cap Value		103,864		29,591		18,606		8,544			(12,778	)		1,982		102,066
Quant International Equity		72,695		8,911		17,079		116			(6,596	)		2,048		55,467
Quant International Small-Cap Equity		35,885		5,989		4,260		342			(5,569	)		952		31,497
Quant Large-Cap Growth		100,912		17,693		25,561		9,946			(7,982	)		1,065		88,889
Quant Large-Cap Value		90,874		18,556		18,786		2,241			(1,450	)		2,107		89,366
Quant Small-Cap Equity		35,460		8,845		9,914		3,977			(3,983	)		238		30,163
Quant Small/Mid-Cap Equity		26,185		5,152		7,116		3,003			(2,353	)		198		22,742
Short-Term Bond		147,712		19,669		31,634		(383	)		576			2,864		135,940
TIAA-CREF Real Property Fund LPa		67,051		21,201		8,347		227			2,457			1,838		82,589
	$	1,934,233	$	324,318	$	344,661	$	50,567		$	(69,143	)	$	41,239	$	1,846,253
Lifecycle 2020 Fund
TIAA-CREF Funds:
Bond	$	696,335	$	117,291	$	103,172	$	(5,906	)	$	7,800		$	17,785	$	712,348
Bond Plus		448,046		39,538		47,167		(2,583	)		3,871			11,825		441,705
Emerging Markets Debt		64,775		21,489		12,515		(760	)		821			3,118		73,810
Emerging Markets Equity		99,742		26,985		18,811		1,873			(4,004	)		725		102,191
Growth & Income		279,519		45,127		40,309		25,868			(23,778	)		2,761		267,935
High-Yield		68,670		5,926		16,167		(771	)		885			2,683		58,543
Inflation-Linked Bond		196,935		29,329		21,810		(1,897	)		(1,367	)		5,149		201,190
International Bond		56,480		25,733		10,903		(276	)		(206	)		2,765		70,828
International Equity		124,616		30,223		11,622		3,288			(23,056	)		2,693		118,231
International Opportunities		122,735		17,498		13,717		333			(9,982	)		1,633		116,867
Large-Cap Growth		263,630		53,676		65,649		38,055			(27,138	)		1,491		238,037
Large-Cap Value		236,335		65,310		34,959		20,288			(30,146	)		4,568		237,120
Quant International Equity		163,323		19,035		31,344		2,024			(16,713	)		4,710		130,390
Quant International Small-Cap Equity		81,733		12,129		6,742		1,019			(12,963	)		2,194		73,127
Quant Large-Cap Growth		229,657		34,849		48,466		22,018			(17,586	)		2,449		206,402
Quant Large-Cap Value		206,888		36,890		33,142		4,895			(3,167	)		4,853		207,599
Quant Small-Cap Equity		80,767		19,303		20,162		9,468			(9,534	)		548		70,114
Quant Small/Mid-Cap Equity		59,622		11,107		14,482		6,755			(5,303	)		456		52,793
Short-Term Bond		215,556		36,030		50,491		(563	)		844			4,207		201,376
TIAA-CREF Real Property Fund LPa		132,820		41,122		11,514		346			5,012			3,674		167,786
	$	3,828,184	$	688,590	$	613,144	$	123,474		$	(165,710	)	$	80,287	$	3,748,392

 17

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

											Change in
											unrealized
		Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue		5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		2/28/19
Lifecycle 2025 Fund
TIAA-CREF Funds:
Bond	$	685,293	$	151,953	$	109,162	$	(6,344	)	$	8,347		$	17,968	$	730,087
Bond Plus		443,692		58,993		51,298		(3,421	)		4,735			11,972		452,701
Emerging Markets Debt		64,386		24,457		11,619		(959	)		1,079			3,221		77,344
Emerging Markets Equity		131,483		38,859		21,704		2,673			(5,518	)		995		140,861
Growth & Income		373,311		64,703		38,228		33,418			(31,096	)		3,802		376,354
High-Yield		67,987		9,355		18,882		(1,183	)		1,247			2,665		58,524
Inflation-Linked Bond		137,113		29,907		14,020		(1,368	)		(979	)		3,738		150,653
International Bond		53,631		30,718		11,298		(327	)		(165	)		2,811		72,559
International Equity		166,279		43,909		9,746		5,066			(32,279	)		3,749		165,962
International Opportunities		164,070		25,694		11,770		(335	)		(12,983	)		2,273		164,676
Large-Cap Growth		352,302		69,628		67,436		51,361			(37,006	)		2,080		334,630
Large-Cap Value		315,407		90,383		31,592		28,691			(42,861	)		6,375		332,525
Quant International Equity		214,991		30,996		32,375		3,720			(23,611	)		6,549		185,467
Quant International Small-Cap Equity		109,094		18,661		6,304		1,668			(18,074	)		3,053		102,193
Quant Large-Cap Growth		306,993		47,830		51,473		28,286			(22,380	)		3,409		289,671
Quant Large-Cap Value		276,500		51,684		32,502		6,520			(4,512	)		6,746		291,066
Quant Small-Cap Equity		107,900		25,676		21,430		13,443			(13,586	)		766		98,423
Quant Small/Mid-Cap Equity		79,629		13,487		13,922		8,631			(6,721	)		636		74,254
Short-Term Bond		158,662		38,678		46,693		(402	)		599			3,138		150,844
TIAA-CREF Real Property Fund LPa		151,444		46,937		5,794		152			6,094			4,286		198,833
	$	4,360,167	$	912,508	$	607,248	$	169,290		$	(229,670	)	$	90,232	$	4,447,627
Lifecycle 2030 Fund
TIAA-CREF Funds:
Bond	$	596,582	$	144,825	$	130,921	$	(6,102	)	$	7,584		$	15,185	$	611,968
Bond Plus		375,215		58,207		55,115		(3,478	)		4,460			10,045		379,289
Emerging Markets Debt		54,445		24,136		12,250		(971	)		1,051			2,757		66,411
Emerging Markets Equity		148,981		41,880		22,019		3,408			(6,665	)		1,126		160,008
Growth & Income		425,933		69,760		36,966		37,552			(35,009	)		4,335		431,876
High-Yield		57,486		9,729		19,885		(1,338	)		1,355			2,167		47,347
Inflation-Linked Bond		49,811		18,346		4,756		(203	)		(678	)		1,449		62,520
International Bond		42,673		30,127		11,477		(321	)		(97	)		2,345		60,905
International Equity		189,756		49,321		9,585		6,644			(37,785	)		4,282		190,052
International Opportunities		187,367		29,295		11,982		(316	)		(14,922	)		2,597		189,442
Large-Cap Growth		402,224		71,418		67,016		59,949			(43,806	)		2,375		383,690
Large-Cap Value		359,976		94,200		25,742		33,331			(49,686	)		7,288		380,641
Quant International Equity		242,877		33,146		29,355		4,834			(27,400	)		7,473		214,684
Quant International Small-Cap Equity		124,507		21,835		7,065		1,978			(20,734	)		3,488		117,262
Quant Large-Cap Growth		350,319		51,322		54,105		33,267			(26,461	)		3,895		331,965
Quant Large-Cap Value		315,520		56,122		32,877		8,452			(6,118	)		7,702		333,537
Quant Small-Cap Equity		123,118		26,314		20,947		15,334			(15,512	)		879		112,723
Quant Small/Mid-Cap Equity		90,870		14,032		14,050		9,661			(7,578	)		730		85,074
Short-Term Bond		49,772		49,415		36,661		(104	)		195			1,210		62,617
TIAA-CREF Real Property Fund LPa		150,742		41,882		1,371		69			6,113			4,249		197,435
	$	4,338,174	$	935,312	$	604,145	$	201,646		$	(271,693	)	$	85,577	$	4,419,446

 18

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

											Change in
											unrealized
		Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue		5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		2/28/19
Lifecycle 2035 Fund
TIAA-CREF Funds:
Bond	$	455,523	$	129,315	$	102,282	$	(5,557	)	$	6,525		$	11,877	$	483,524
Bond Plus		287,758		61,742		50,587		(3,338	)		4,063			7,833		299,638
Emerging Markets Debt		41,767		23,449		10,342		(871	)		990			2,238		54,993
Emerging Markets Equity		168,581		49,272		24,784		3,309			(7,318	)		1,285		182,693
Growth & Income		485,428		74,092		30,998		40,323			(37,857	)		4,991		497,109
High-Yield		44,013		9,679		18,890		(1,287	)		1,259			1,589		34,774
International Bond		28,490		29,781		9,865		(291	)		(25	)		1,821		48,090
International Equity		216,192		57,129		7,387		7,198			(43,186	)		4,937		220,377
International Opportunities		213,489		34,281		12,566		(1,129	)		(16,681	)		3,000		217,394
Large-Cap Growth		458,474		78,891		68,541		66,482			(47,920	)		2,739		442,317
Large-Cap Value		410,253		107,678		22,664		37,865			(57,079	)		8,402		439,809
Quant International Equity		274,552		38,501		27,145		5,784			(31,655	)		8,601		249,197
Quant International Small-Cap Equity		141,819		26,248		6,798		2,046			(23,784	)		4,021		135,775
Quant Large-Cap Growth		399,246		54,413		52,077		37,126			(29,684	)		4,491		383,225
Quant Large-Cap Value		359,614		58,688		26,497		9,455			(6,964	)		8,876		385,581
Quant Small-Cap Equity		140,362		29,170		21,206		17,854			(18,291	)		1,011		129,962
Quant Small/Mid-Cap Equity		103,573		15,010		13,874		11,064			(8,685	)		842		98,028
TIAA-CREF Real Property Fund LPa		152,406		43,137		838		88			6,195			4,319		200,988
	$	4,381,540	$	920,476	$	507,341	$	226,121		$	(310,097	)	$	82,873	$	4,503,474
Lifecycle 2040 Fund
TIAA-CREF Funds:
Bond	$	313,349	$	119,843	$	101,955	$	(4,603	)	$	5,124		$	8,088	$	331,758
Bond Plus		200,680		56,251		52,198		(3,168	)		3,500			5,384		205,065
Emerging Markets Debt		29,168		23,358		9,163		(739	)		920			1,723		43,544
Emerging Markets Equity		228,805		66,182		35,653		4,100			(10,105	)		1,717		244,820
Growth & Income		662,582		90,484		40,544		56,360			(53,651	)		6,759		669,522
High-Yield		30,644		8,694		21,265		(1,790	)		1,723			861		18,006
International Bond		10,593		32,540		9,941		(255	)		55			1,220		32,992
International Equity		295,139		72,862		11,582		9,141			(58,332	)		6,660		294,321
International Opportunities		291,316		45,960		18,640		(1,112	)		(23,345	)		4,051		294,179
Large-Cap Growth		625,731		97,370		90,847		93,893			(69,459	)		3,696		595,876
Large-Cap Value		559,939		132,918		25,742		52,309			(78,819	)		11,329		591,733
Quant International Equity		372,447		49,978		35,539		7,889			(43,037	)		11,600		337,120
Quant International Small-Cap Equity		193,609		33,777		11,037		2,586			(32,207	)		5,423		181,662
Quant Large-Cap Growth		544,917		65,885		70,584		52,076			(42,317	)		6,057		515,185
Quant Large-Cap Value		490,805		74,559		38,076		14,322			(11,228	)		11,970		518,629
Quant Small-Cap Equity		191,474		37,008		28,256		24,925			(25,798	)		1,367		175,103
Quant Small/Mid-Cap Equity		141,365		18,102		18,478		15,291			(12,222	)		1,136		131,833
TIAA-CREF Real Property Fund LPa		186,999		50,123		2,580		228			7,378			5,231		242,148
	$	5,369,562	$	1,075,894	$	622,080	$	321,453		$	(441,820	)	$	94,272	$	5,423,496

 19

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

											Change in
											unrealized
		Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue		5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		2/28/19
Lifecycle 2045 Fund
TIAA-CREF Funds:
Bond	$	82,483	$	41,290	$	44,170	$	(1,989	)	$	1,988		$	1,999	$	79,602
Bond Plus		54,554		18,276		23,137		(845	)		801			1,364		49,649
Emerging Markets Debt		7,930		8,509		3,559		(144	)		201			511		12,937
Emerging Markets Equity		127,388		42,681		16,157		2,879			(5,670	)		1,004		146,148
Growth & Income		368,870		67,187		10,464		26,627			(25,429	)		3,894		399,998
High-Yield		8,358		2,265		8,555		507			(565	)		135		2,010
International Bond		2,584		9,814		4,414		(71	)		17			289		7,930
International Equity		164,388		56,305		7,614		5,361			(33,476	)		3,915		177,377
International Opportunities		162,243		35,726		8,153		(1,256	)		(12,652	)		2,373		175,908
Large-Cap Growth		348,409		66,812		36,866		39,370			(25,111	)		2,163		357,025
Large-Cap Value		312,139		93,733		7,068		28,172			(43,785	)		6,647		354,518
Quant International Equity		201,571		43,761		13,560		5,769			(25,893	)		6,804		203,073
Quant International Small-Cap Equity		107,792		25,385		3,799		1,736			(18,681	)		3,209		109,436
Quant Large-Cap Growth		303,356		47,406		26,755		21,986			(16,525	)		3,544		309,110
Quant Large-Cap Value		273,259		54,794		11,352		7,646			(6,010	)		7,003		311,461
Quant Small-Cap Equity		106,664		24,450		11,458		14,140			(14,519	)		801		105,064
Quant Small/Mid-Cap Equity		78,698		12,754		6,654		7,533			(5,682	)		665		79,495
TIAA-CREF Real Property Fund LPa		97,818		33,523		948		99			3,993			2,820		134,485
	$	2,808,504	$	684,671	$	244,683	$	157,520		$	(226,998	)	$	49,140	$	3,015,226
Lifecycle 2050 Fund
TIAA-CREF Funds:
Bond		42,000	$	25,207	$	27,406	$	(1,016	)	$	1,001		$	1,001	$	39,786
Bond Plus		28,298		10,502		13,875		(479	)		435			691		24,881
Emerging Markets Debt		4,113		3,955		1,870		(67	)		75			250		6,206
Emerging Markets Equity		84,616		30,438		11,903		1,835			(3,546	)		669		98,124
Growth & Income		245,104		47,788		6,865		17,772			(16,964	)		2,590		268,965
High-Yield		4,314		1,202		4,196		245			(278	)		82		1,287
International Bond		1,663		4,976		2,647		(45	)		22			138		3,969
International Equity		109,306		38,443		4,863		3,661			(22,316	)		2,615		119,163
International Opportunities		107,777		25,544		5,928		(836	)		(8,328	)		1,585		118,229
Large-Cap Growth		231,500		47,426		24,629		26,285			(16,686	)		1,443		240,158
Large-Cap Value		207,625		66,818		6,669		18,767			(29,044	)		4,434		238,368
Quant International Equity		132,722		31,430		8,367		3,996			(17,354	)		4,555		136,687
Quant International Small-Cap Equity		71,612		17,585		2,329		1,266			(12,521	)		2,141		73,613
Quant Large-Cap Growth		201,626		34,315		18,432		14,714			(11,029	)		2,363		207,621
Quant Large-Cap Value		181,566		36,842		5,922		4,995			(3,850	)		4,669		209,046
Quant Small-Cap Equity		70,871		16,544		7,160		9,566			(9,776	)		534		70,575
Quant Small/Mid-Cap Equity		52,294		8,939		4,411		4,930			(3,668	)		443		53,313
TIAA-CREF Real Property Fund LPa		64,121		23,013		604		63			2,624			1,853		89,217
	$	1,841,128	$	470,967	$	158,076	$	105,652		$	(151,203	)	$	32,056	$	1,999,208

 20

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

											Change in
											unrealized
		Value at		Purchases		Sales		Realized			appreciation			Dividend		Value at
Issue		5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		2/28/19
Lifecycle 2055 Fund
TIAA-CREF Funds:
Bond	$	9,151	$	8,386	$	8,257	$	(221	)	$	216		$	225	$	9,275
Bond Plus		6,373		3,505		4,060		(137	)		120			157		5,801
Emerging Markets Debt		924		961		561		(21	)		17			53		1,320
Emerging Markets Equity		26,170		11,564		2,783		627			(989	)		222		33,488
Growth & Income		75,617		23,857		1,803		5,833			(5,570	)		841		91,993
High-Yield		980		379		928		39			(48	)		24		422
International Bond		508		1,248		847		(10	)		5			30		904
International Equity		33,892		15,606		1,035		1,327			(7,306	)		870		40,798
International Opportunities		33,247		11,961		2,052		(259	)		(2,609	)		529		40,288
Large-Cap Growth		71,396		21,702		6,522		8,245			(5,044	)		479		81,902
Large-Cap Value		64,055		29,004		1,859		6,171			(9,527	)		1,473		81,490
Quant International Equity		40,620		14,655		2,417		1,318			(5,609	)		1,516		46,656
Quant International Small-Cap Equity		22,180		7,700		487		486			(4,065	)		712		25,149
Quant Large-Cap Growth		62,202		16,841		4,761		4,554			(3,432	)		785		70,895
Quant Large-Cap Value		55,982		17,511		869		1,501			(1,149	)		1,552		71,453
Quant Small-Cap Equity		21,861		6,949		1,489		3,083			(3,098	)		177		24,162
Quant Small/Mid-Cap Equity		16,137		4,021		793		1,555			(1,121	)		147		18,215
TIAA-CREF Real Property Fund LPa		19,504		9,762		79		8			852			595		30,047
	$	560,799	$	205,612	$	41,602	$	34,099		$	(48,357	)	$	10,387	$	674,258
Lifecycle 2060 Fund
TIAA-CREF Funds:
Bond	$	954	$	1,708	$	1,804	$	(15	)	$	12		$	23	$	855
Bond Plus		710		809		985		(16	)		12			16		530
Emerging Markets Debt		103		117		140		(5	)		2			4		77
Emerging Markets Equity		4,588		2,748		1,376		(23	)		(45	)		42		5,686
Growth & Income		13,072		6,231		2,502		900			(955	)		153		15,632
High-Yield		109		113		138		(2	)		—			4		82
International Bond		84		188		186		(2	)		1			3		85
International Equity		5,898		3,909		1,409		(20	)		(1,094	)		163		6,968
International Opportunities		5,784		3,048		1,425		(152	)		(395	)		99		6,860
Large-Cap Growth		12,329		5,671		3,019		1,287			(809	)		90		13,984
Large-Cap Value		11,074		7,298		2,571		811			(1,503	)		276		13,917
Quant International Equity		7,021		3,825		1,702		35			(842	)		285		7,979
Quant International Small-Cap Equity		3,864		2,076		861		(104	)		(555	)		133		4,295
Quant Large-Cap Growth		10,741		4,860		2,729		710			(586	)		147		12,151
Quant Large-Cap Value		9,668		5,037		2,194		142			(151	)		291		12,217
Quant Small-Cap Equity		3,775		1,931		956		454			(491	)		33		4,124
Quant Small/Mid-Cap Equity		2,786		1,241		674		244			(192	)		28		3,108
TIAA-CREF Real Property Fund LPa		3,310		1,977		388		2			150			105		5,051
	$	95,870	$	52,787	$	25,059	$	4,246		$	(7,441	)	$	1,895	$	113,601

^ Some amounts represent less than $1,000.

a Restricted security.

 21

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

Note 4 —investments

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

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

Net unrealized appreciation (depreciation): At February 28, 2019, 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	$	503,179	$	25,387	$	(4,110	)	$	21,277
Lifecycle 2010		1,099,947		105,333		(3,540	)		101,793
Lifecycle 2015		1,856,642		43,685		(54,074	)		(10,389	)
Lifecycle 2020		3,727,055		111,970		(90,633	)		21,337
Lifecycle 2025		4,382,250		162,261		(96,884	)		65,377
Lifecycle 2030		4,309,234		198,853		(88,641	)		110,212
Lifecycle 2035		4,340,598		242,171		(79,295	)		162,876
Lifecycle 2040		5,174,523		337,338		(88,365	)		248,973
Lifecycle 2045		2,753,853		270,594		(9,221	)		261,373
Lifecycle 2050		1,846,820		162,894		(10,506	)		152,388
Lifecycle 2055		653,638		31,965		(11,345	)		20,620
Lifecycle 2060		117,421		—		(3,820	)		(3,820	)

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.

 22

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

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX RETIREMENT INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 100.3%(a)
FIXED INCOME - 39.9%
	13,050,692	TIAA-CREF Bond Index Fund	$	138,076,320
		TOTAL FIXED INCOME		138,076,320
INFLATION-PROTECTED ASSETS - 10.0%
	3,099,549	TIAA-CREF Inflation-Linked Bond Fund		34,497,984
		TOTAL INFLATION-PROTECTED ASSETS		34,497,984
INTERNATIONAL EQUITY - 12.0%
	1,060,818	TIAA-CREF Emerging Markets Equity Index Fund		11,573,522
	1,628,768	TIAA-CREF International Equity Index Fund		30,083,337
		TOTAL INTERNATIONAL EQUITY		41,656,859
SHORT-TERM FIXED INCOME - 10.0%
	3,500,994	TIAA-CREF Short-Term Bond Index Fund		34,519,802
		TOTAL SHORT-TERM FIXED INCOME		34,519,802
U.S. EQUITY - 28.4%
	4,801,030	TIAA-CREF Equity Index Fund		98,181,060
		TOTAL U.S. EQUITY		98,181,060
		TOTAL AFFILIATED INVESTMENT COMPANIES		346,932,025
		(Cost $329,516,690)
		TOTAL INVESTMENTS - 100.3%		346,932,025
		(Cost $329,516,690)
		OTHER ASSETS & LIABILITIES, NET - (0.3)%		(976,313	)
		NET ASSETS - 100.0%	$	345,955,712

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

1

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2010 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2010 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.9%(a)
FIXED INCOME - 39.5%
	15,963,756	TIAA-CREF Bond Index Fund	$	168,896,534
		TOTAL FIXED INCOME		168,896,534
INFLATION-PROTECTED ASSETS - 9.4%
	3,607,522	TIAA-CREF Inflation-Linked Bond Fund		40,151,721
		TOTAL INFLATION-PROTECTED ASSETS		40,151,721
INTERNATIONAL EQUITY - 12.4%
	1,352,069	TIAA-CREF Emerging Markets Equity Index Fund		14,751,077
	2,075,831	TIAA-CREF International Equity Index Fund		38,340,590
		TOTAL INTERNATIONAL EQUITY		53,091,667
SHORT-TERM FIXED INCOME - 9.4%
	4,075,323	TIAA-CREF Short-Term Bond Index Fund		40,182,685
		TOTAL SHORT-TERM FIXED INCOME		40,182,685
U.S. EQUITY - 29.2%
	6,120,083	TIAA-CREF Equity Index Fund		125,155,698
		TOTAL U.S. EQUITY		125,155,698
		TOTAL AFFILIATED INVESTMENT COMPANIES		427,478,305
		(Cost $376,324,470)
		TOTAL INVESTMENTS - 99.9%		427,478,305
		(Cost $376,324,470)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		542,365
		NET ASSETS - 100.0%	$	428,020,670

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

2

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2015 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2015 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 100.1%(a)
FIXED INCOME - 38.6%
	31,353,291	TIAA-CREF Bond Index Fund	$	331,717,816
		TOTAL FIXED INCOME		331,717,816
INFLATION-PROTECTED ASSETS - 7.4%
	5,732,056	TIAA-CREF Inflation-Linked Bond Fund		63,797,781
		TOTAL INFLATION-PROTECTED ASSETS		63,797,781
INTERNATIONAL EQUITY - 13.9%
	3,048,634	TIAA-CREF Emerging Markets Equity Index Fund		33,260,593
	4,680,457	TIAA-CREF International Equity Index Fund		86,448,034
		TOTAL INTERNATIONAL EQUITY		119,708,627
SHORT-TERM FIXED INCOME - 7.4%
	6,475,342	TIAA-CREF Short-Term Bond Index Fund		63,846,869
		TOTAL SHORT-TERM FIXED INCOME		63,846,869
U.S. EQUITY - 32.8%
	13,797,837	TIAA-CREF Equity Index Fund		282,165,771
		TOTAL U.S. EQUITY		282,165,771
		TOTAL AFFILIATED INVESTMENT COMPANIES		861,236,864
		(Cost $758,895,724)
		TOTAL INVESTMENTS - 100.1%		861,236,864
		(Cost $758,895,724)
		OTHER ASSETS & LIABILITIES, NET - (0.1)%		(849,000	)
		NET ASSETS - 100.0%	$	860,387,864

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

3

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2020 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2020 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.8%(a)
FIXED INCOME - 36.6%
	72,327,650	TIAA-CREF Bond Index Fund	$	765,226,538
		TOTAL FIXED INCOME		765,226,538
INFLATION-PROTECTED ASSETS - 5.4%
	10,148,925	TIAA-CREF Inflation-Linked Bond Fund		112,957,531
		TOTAL INFLATION-PROTECTED ASSETS		112,957,531
INTERNATIONAL EQUITY - 15.6%
	8,317,927	TIAA-CREF Emerging Markets Equity Index Fund		90,748,581
	12,770,842	TIAA-CREF International Equity Index Fund		235,877,447
		TOTAL INTERNATIONAL EQUITY		326,626,028
SHORT-TERM FIXED INCOME - 5.4%
	11,465,015	TIAA-CREF Short-Term Bond Index Fund		113,045,048
		TOTAL SHORT-TERM FIXED INCOME		113,045,048
U.S. EQUITY - 36.8%
	37,643,888	TIAA-CREF Equity Index Fund		769,817,513
		TOTAL U.S. EQUITY		769,817,513
		TOTAL AFFILIATED INVESTMENT COMPANIES		2,087,672,658
		(Cost $1,880,098,878)
		TOTAL INVESTMENTS - 99.8%		2,087,672,658
		(Cost $1,880,098,878)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		4,991,467
		NET ASSETS - 100.0%	$	2,092,664,125

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

4

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2025 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2025 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.7%(a)
FIXED INCOME - 32.6%
	81,741,684	TIAA-CREF Bond Index Fund	$	864,827,012
		TOTAL FIXED INCOME		864,827,012
INFLATION-PROTECTED ASSETS - 3.4%
	8,149,461	TIAA-CREF Inflation-Linked Bond Fund		90,703,501
		TOTAL INFLATION-PROTECTED ASSETS		90,703,501
INTERNATIONAL EQUITY - 18.0%
	12,147,114	TIAA-CREF Emerging Markets Equity Index Fund		132,525,013
	18,643,381	TIAA-CREF International Equity Index Fund		344,343,249
		TOTAL INTERNATIONAL EQUITY		476,868,262
SHORT-TERM FIXED INCOME - 3.4%
	9,204,697	TIAA-CREF Short-Term Bond Index Fund		90,758,316
		TOTAL SHORT-TERM FIXED INCOME		90,758,316
U.S. EQUITY - 42.3%
	54,953,247	TIAA-CREF Equity Index Fund		1,123,793,896
		TOTAL U.S. EQUITY		1,123,793,896
		TOTAL AFFILIATED INVESTMENT COMPANIES		2,646,950,987
		(Cost $2,391,030,671)
		TOTAL INVESTMENTS - 99.7%		2,646,950,987
		(Cost $2,391,030,671)
		OTHER ASSETS & LIABILITIES, NET - 0.3%		7,860,213
		NET ASSETS - 100.0%	$	2,654,811,200

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

5

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2030 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2030 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.8%(a)
FIXED INCOME - 28.6%
	75,771,096	TIAA-CREF Bond Index Fund	$	801,658,197
		TOTAL FIXED INCOME		801,658,197
INFLATION-PROTECTED ASSETS - 1.4%
	3,619,467	TIAA-CREF Inflation-Linked Bond Fund		40,284,669
		TOTAL INFLATION-PROTECTED ASSETS		40,284,669
INTERNATIONAL EQUITY - 20.4%
	14,518,123	TIAA-CREF Emerging Markets Equity Index Fund		158,392,718
	22,273,948	TIAA-CREF International Equity Index Fund		411,399,814
		TOTAL INTERNATIONAL EQUITY		569,792,532
SHORT-TERM FIXED INCOME - 1.5%
	4,088,767	TIAA-CREF Short-Term Bond Index Fund		40,315,242
		TOTAL SHORT-TERM FIXED INCOME		40,315,242
U.S. EQUITY - 47.9%
	65,653,922	TIAA-CREF Equity Index Fund		1,342,622,708
		TOTAL U.S. EQUITY		1,342,622,708
		TOTAL AFFILIATED INVESTMENT COMPANIES		2,794,673,348
		(Cost $2,494,997,821)
		TOTAL INVESTMENTS - 99.8%		2,794,673,348
		(Cost $2,494,997,821)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		5,970,444
		NET ASSETS - 100.0%	$	2,800,643,792

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

6

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2035 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2035 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.8%(a)
FIXED INCOME - 23.6%
	57,090,999	TIAA-CREF Bond Index Fund	$	604,022,772
		TOTAL FIXED INCOME		604,022,772
INTERNATIONAL EQUITY - 22.7%
	14,837,908	TIAA-CREF Emerging Markets Equity Index Fund		161,881,571
	22,764,323	TIAA-CREF International Equity Index Fund		420,457,049
		TOTAL INTERNATIONAL EQUITY		582,338,620
U.S. EQUITY - 53.5%
	67,083,966	TIAA-CREF Equity Index Fund		1,371,867,108
		TOTAL U.S. EQUITY		1,371,867,108
		TOTAL AFFILIATED INVESTMENT COMPANIES		2,558,228,500
		(Cost $2,243,368,409)
		TOTAL INVESTMENTS - 99.8%		2,558,228,500
		(Cost $2,243,368,409)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		5,906,868
		NET ASSETS - 100.0%	$	2,564,135,368

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

7

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2040 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2040 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.8%(a)
FIXED INCOME - 15.6%
	39,934,083	TIAA-CREF Bond Index Fund	$	422,502,593
		TOTAL FIXED INCOME		422,502,593
INTERNATIONAL EQUITY - 25.1%
	17,273,954	TIAA-CREF Emerging Markets Equity Index Fund		188,458,838
	26,502,718	TIAA-CREF International Equity Index Fund		489,505,210
		TOTAL INTERNATIONAL EQUITY		677,964,048
U.S. EQUITY - 59.1%
	78,083,862	TIAA-CREF Equity Index Fund		1,596,814,974
		TOTAL U.S. EQUITY		1,596,814,974
		TOTAL AFFILIATED INVESTMENT COMPANIES		2,697,281,615
		(Cost $2,312,858,437)
		TOTAL INVESTMENTS - 99.8%		2,697,281,615
		(Cost $2,312,858,437)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		6,190,493
		NET ASSETS - 100.0%	$	2,703,472,108

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

8

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2045 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2045 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.7%(a)
FIXED INCOME - 9.5%
	16,010,400	TIAA-CREF Bond Index Fund	$	169,390,032
		TOTAL FIXED INCOME		169,390,032
INTERNATIONAL EQUITY - 26.9%
	12,162,909	TIAA-CREF Emerging Markets Equity Index Fund		132,697,333
	18,657,665	TIAA-CREF International Equity Index Fund		344,607,072
		TOTAL INTERNATIONAL EQUITY		477,304,405
U.S. EQUITY - 63.3%
	54,942,914	TIAA-CREF Equity Index Fund		1,123,582,596
		TOTAL U.S. EQUITY		1,123,582,596
		TOTAL AFFILIATED INVESTMENT COMPANIES		1,770,277,033
		(Cost $1,560,953,105)
		TOTAL INVESTMENTS - 99.7%		1,770,277,033
		(Cost $1,560,953,105)
		OTHER ASSETS & LIABILITIES, NET - 0.3%		5,057,928
		NET ASSETS - 100.0%	$	1,775,334,961

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

9

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2050 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2050 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.7%(a)
FIXED INCOME - 8.3%
	10,370,490	TIAA-CREF Bond Index Fund	$	109,719,785
		TOTAL FIXED INCOME		109,719,785
INTERNATIONAL EQUITY - 27.3%
	9,161,728	TIAA-CREF Emerging Markets Equity Index Fund		99,954,448
	14,046,397	TIAA-CREF International Equity Index Fund		259,436,958
		TOTAL INTERNATIONAL EQUITY		359,391,406
U.S. EQUITY - 64.1%
	41,327,680	TIAA-CREF Equity Index Fund		845,151,065
		TOTAL U.S. EQUITY		845,151,065
		TOTAL AFFILIATED INVESTMENT COMPANIES		1,314,262,256
		(Cost $1,166,672,041)
		TOTAL INVESTMENTS - 99.7%		1,314,262,256
		(Cost $1,166,672,041)
		OTHER ASSETS & LIABILITIES, NET - 0.3%		3,746,356
		NET ASSETS - 100.0%	$	1,318,008,612

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

10

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2055 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2055 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.5%(a)
FIXED INCOME - 7.1%
	3,577,512	TIAA-CREF Bond Index Fund	$	37,850,081
		TOTAL FIXED INCOME		37,850,081
INTERNATIONAL EQUITY - 27.6%
	3,767,164	TIAA-CREF Emerging Markets Equity Index Fund		41,099,761
	5,778,046	TIAA-CREF International Equity Index Fund		106,720,512
		TOTAL INTERNATIONAL EQUITY		147,820,273
U.S. EQUITY - 64.8%
	17,010,741	TIAA-CREF Equity Index Fund		347,869,645
		TOTAL U.S. EQUITY		347,869,645
		TOTAL AFFILIATED INVESTMENT COMPANIES		533,539,999
		(Cost $490,838,982)
		TOTAL INVESTMENTS - 99.5%		533,539,999
		(Cost $490,838,982)
		OTHER ASSETS & LIABILITIES, NET - 0.5%		2,962,856
		NET ASSETS - 100.0%	$	536,502,855

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

11

TIAA-CREF LIFECYCLE INDEX FUNDS – Lifecycle Index 2060 Fund

TIAA-CREF LIFECYCLE INDEX FUNDS
LIFECYCLE INDEX 2060 FUND
SCHEDULE OF INVESTMENTS (unaudited)
February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.2%(a)
FIXED INCOME - 5.8%
	665,764	TIAA-CREF Bond Index Fund	$	7,043,779
		TOTAL FIXED INCOME		7,043,779
INTERNATIONAL EQUITY - 27.9%
	858,412	TIAA-CREF Emerging Markets Equity Index Fund		9,365,276
	1,315,318	TIAA-CREF International Equity Index Fund		24,293,920
		TOTAL INTERNATIONAL EQUITY		33,659,196
U.S. EQUITY - 65.5%
	3,865,126	TIAA-CREF Equity Index Fund		79,041,837
		TOTAL U.S. EQUITY		79,041,837
		TOTAL AFFILIATED INVESTMENT COMPANIES		119,744,812
		(Cost $113,743,191)
		TOTAL INVESTMENTS - 99.2%		119,744,812
		(Cost $113,743,191)
		OTHER ASSETS & LIABILITIES, NET - 0.8%		860,936
		NET ASSETS - 100.0%	$	120,605,748

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

12

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 Class W 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.

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 October 1, 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.

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 removes or modifies certain disclosures required for fair value measurements. This guidance is effective for fiscal years beginning after December 15, 2019. Management has early implemented this accounting pronouncement for the November 30, 2018 semi-annual report. This implementation did not have a material impact on the Funds’ notes disclosures. Refer to Note 2 for further details.

13

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

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 or results of operations.

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 establishment of the liquidity risk management program and the 15% illiquid investment limit, were implemented by the December 1, 2018 compliance date. This portion of the implementation did not have a material impact on the Funds’ financial statements and various filings. In February 2018, the Commission issued Release No. IC-33142, which delayed certain 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 these provisions on the Funds’ financial statements and various filings.

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.

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.

As of February 28, 2019, 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 the Class W shares of the affiliated TIAA-CREF Funds. On September 28, 2018, the Funds exchanged Institutional Class shares of the affiliated TIAA-CREF Funds for Class W shares of the affiliated TIAA-CREF Funds. These exchanges did not have an impact and are not included in the following tables (see Note 1 for details). Information regarding transactions with affiliated companies is as follows (dollar amounts are in thousands^):

14

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 2/28/19
Lifecycle Index Retirement Income Fund
TIAA-CREF Funds:
Bond Index	$	116,737	$	41,571	$	20,976	$	(711	)	$	1,455		$	2,648	$	138,076
Emerging Markets Equity Index		9,372		4,487		1,728		(145	)		(412	)		239		11,574
Equity Index		82,286		31,731		18,385		609			2,252			1,587		98,181
Inflation-Linked Bond		29,171		10,457		4,656		(147	)		(327	)		796		34,498
International Equity Index		25,219		11,179		4,503		(324	)		(1,488	)		851		30,083
Short-Term Bond Index		29,154		10,402		5,133		(92	)		189			529		34,520
	$	291,939	$	109,827	$	55,381	$	(810	)	$	1,669		$	6,650	$	346,932
Lifecycle Index 2010 Fund
TIAA-CREF Funds:
Bond Index	$	154,007	$	34,368	$	20,419	$	(652	)	$	1,592		$	3,501	$	168,896
Emerging Markets Equity Index		13,062		4,437		1,913		(71	)		(764	)		330		14,751
Equity Index		115,559		30,013		23,418		1,594			1,840			2,201		125,156
Inflation-Linked Bond		35,593		9,482		4,310		(126	)		(487	)		995		40,152
International Equity Index		35,355		10,842		5,158		(127	)		(2,572	)		1,182		38,340
Short-Term Bond Index		35,567		9,182		4,687		(86	)		207			656		40,183
	$	389,143	$	98,324	$	59,905	$	532		$	(184	)	$	8,865	$	427,478
Lifecycle Index 2015 Fund
TIAA-CREF Funds:
Bond Index	$	295,893	$	72,772	$	38,787	$	(1,235	)	$	3,075		$	6,666	$	331,718
Emerging Markets Equity Index		28,993		9,655		3,610		(53	)		(1,725	)		726		33,260
Equity Index		254,755		64,193		43,519		3,650			4,034			4,822		282,166
Inflation-Linked Bond		54,844		15,962		6,086		(194	)		(728	)		1,522		63,798
International Equity Index		78,063		23,109		8,971		(1	)		(5,752	)		2,594		86,448
Short-Term Bond Index		54,813		15,432		6,590		(115	)		307			1,007		63,847
	$	767,361	$	201,123	$	107,563	$	2,052		$	(789	)	$	17,337	$	861,237
Lifecycle Index 2020 Fund
TIAA-CREF Funds:
Bond Index	$	632,175	$	201,947	$	73,283	$	(3,204	)	$	7,592		$	14,882	$	765,227
Emerging Markets Equity Index		74,508		27,090		6,163		(213	)		(4,473	)		1,934		90,749
Equity Index		655,662		176,260		79,421		4,734			15,116			12,900		769,817
Inflation-Linked Bond		89,720		33,483		8,706		(397	)		(1,142	)		2,594		112,958
International Equity Index		200,858		65,639		15,207		(315	)		(15,098	)		6,923		235,877
Short-Term Bond Index		89,666		31,777		8,741		(170	)		513			1,724		113,045
	$	1,742,589	$	536,196	$	191,521	$	435		$	2,508		$	40,957	$	2,087,673
Lifecycle Index 2025 Fund
TIAA-CREF Funds:
Bond Index	$	685,205	$	252,273	$	77,684	$	(3,792	)	$	8,825		$	16,246	$	864,827
Emerging Markets Equity Index		104,390		39,667		5,197		(115	)		(6,220	)		2,745		132,525
Equity Index		918,225		267,839		88,492		2,937			26,866			18,234		1,123,794
Inflation-Linked Bond		66,867		30,121		5,159		(288	)		(837	)		1,964		90,704
International Equity Index		281,293		96,687		12,511		(273	)		(20,853	)		9,808		344,343
Short-Term Bond Index		66,828		29,286		5,631		(120	)		395			1,316		90,758
	$	2,122,808	$	715,873	$	194,674	$	(1,651	)	$	8,176		$	50,313	$	2,646,951

15

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 2/28/19
Lifecycle Index 2030 Fund
TIAA-CREF Funds:
Bond Index	$	619,462	$	252,807	$	75,249	$	(3,847	)	$	8,485		$	15,029	$	801,658
Emerging Markets Equity Index		121,783		50,239		5,941		(426	)		(7,262	)		3,298		158,393
Equity Index		1,070,005		320,007		75,604		2,001			30,516			21,903		1,342,623
Inflation-Linked Bond		25,235		17,018		1,517		(91	)		(361	)		814		40,284
International Equity Index		327,968		120,037		10,802		(761	)		(25,042	)		11,794		411,400
Short-Term Bond Index		25,220		16,750		1,781		(40	)		166			549		40,315
	$	2,189,673	$	776,858	$	170,894	$	(3,164	)	$	6,502		$	53,387	$	2,794,673
Lifecycle Index 2035 Fund
TIAA-CREF Funds:
Bond Index	$	465,197	$	194,465	$	59,141	$	(2,998	)	$	6,500		$	11,240	$	604,023
Emerging Markets Equity Index		127,622		47,489		5,173		(446	)		(7,610	)		3,390		161,882
Equity Index		1,121,872		283,715		62,291		3,081			29,912			22,514		1,371,867
International Equity Index		343,932		113,518		10,273		(545	)		(26,175	)		12,120		420,457
	$	2,058,623	$	639,187	$	136,878	$	(908	)	$	2,627		$	49,264	$	2,558,229
Lifecycle Index 2040 Fund
TIAA-CREF Funds:
Bond Index	$	319,200	$	146,919	$	46,022	$	(2,389	)	$	4,795		$	7,891	$	422,503
Emerging Markets Equity Index		149,441		54,046		4,995		(894	)		(9,139	)		3,998		188,459
Equity Index		1,314,478		310,166		58,064		3,339			32,107			26,532		1,596,815
International Equity Index		402,729		130,239		10,828		(1,527	)		(31,108	)		14,283		489,505
	$	2,185,848	$	641,370	$	119,909	$	(1,471	)	$	(3,345	)	$	52,704	$	2,697,282
Lifecycle Index 2045 Fund
TIAA-CREF Funds:
Bond Index	$	131,686	$	56,330	$	19,563	$	(951	)	$	1,888		$	3,203	$	169,390
Emerging Markets Equity Index		101,099		41,123		2,854		(565	)		(6,106	)		2,768		132,697
Equity Index		886,241		242,693		25,795		2,873			21,180			18,373		1,123,583
International Equity Index		271,954		101,089		6,286		(1,051	)		(21,099	)		9,892		344,607
	$	1,390,980	$	441,235	$	54,498	$	306		$	(4,137	)	$	34,236	$	1,770,277
Lifecycle Index 2050 Fund
TIAA-CREF Funds:
Bond Index	$	81,523	$	40,458	$	12,885	$	(620	)	$	1,244		$	2,041	$	109,720
Emerging Markets Equity Index		72,546		34,488		2,247		(478	)		(4,355	)		2,064		99,954
Equity Index		641,852		207,652		19,573		2,097			15,815			13,705		845,151
International Equity Index		196,295		84,717		5,275		(1,148	)		(15,152	)		7,380		259,437
	$	992,216	$	367,315	$	39,980	$	(149	)	$	(2,448	)	$	25,190	$	1,314,262
Lifecycle Index 2055 Fund
TIAA-CREF Funds:
Bond Index	$	25,407	$	15,999	$	3,787	$	(191	)	$	422		$	672	$	37,850
Emerging Markets Equity Index		27,178		16,507		888		(221	)		(1,476	)		816		41,100
Equity Index		238,875		110,304		7,563		684			6,635			5,420		347,870
International Equity Index		73,217		42,060		2,471		(502	)		(5,584	)		2,918		106,720
	$	364,677	$	184,870	$	14,709	$	(230	)	$	(3	)	$	9,826	$	533,540

16

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 2/28/19
Lifecycle Index 2060 Fund
TIAA-CREF Funds:
Bond Index	$	4,515	$	4,002	$	1,521	$	(53	)	$	101		$	131	$	7,044
Emerging Markets Equity Index		5,932		4,981		1,134		(177	)		(237	)		202		9,365
Equity Index		51,991		35,708		9,568		(285	)		1,459			1,340		79,042
International Equity Index		16,049		12,924		3,119		(375	)		(1,185	)		721		24,294
	$	78,487	$	57,615	$	15,342	$	(890	)	$	138		$	2,394	$	119,745

^ Some amounts represent less than $1,000.

Note 4—investments

Net unrealized appreciation (depreciation): At February 28, 2019, 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 Index Retirement Income	$	333,401	$	14,147	$	(616	)	$	13,531
Lifecycle Index 2010		381,897		46,755		(1,174	)		45,581
Lifecycle Index 2015		768,369		96,143		(3,275	)		92,868
Lifecycle Index 2020		1,897,466		199,210		(9,003	)		190,207
Lifecycle Index 2025		2,407,420		248,254		(8,723	)		239,531
Lifecycle Index 2030		2,511,975		289,208		(6,510	)		282,698
Lifecycle Index 2035		2,257,544		304,972		(4,287	)		300,685
Lifecycle Index 2040		2,327,413		372,232		(2,363	)		369,869
Lifecycle Index 2045		1,568,503		202,828		(1,054	)		201,774
Lifecycle Index 2050		1,172,099		142,713		(550	)		142,163
Lifecycle Index 2055		493,191		40,799		(450	)		40,349
Lifecycle Index 2060		115,436		4,912		(603	)		4,309

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.

17

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Income Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE INCOME FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 100.0%(a)
FIXED INCOME - 39.9%
	1,428,512	TIAA-CREF Bond Fund	$	14,470,825
	1,418,708	TIAA-CREF Bond Plus Fund		14,485,008
		TOTAL FIXED INCOME		28,955,833
INTERNATIONAL EQUITY - 6.0%
	103,735	TIAA-CREF Emerging Markets Equity Fund		1,164,939
	109,106	TIAA-CREF International Equity Fund		1,144,518
	75,427	TIAA-CREF International Opportunities Fund		942,088
	74,164	TIAA-CREF Quant International Equity Fund		519,886
	58,908	TIAA-CREF Quant International Small-Cap Equity Fund		590,849
		TOTAL INTERNATIONAL EQUITY		4,362,280
SHORT-TERM FIXED INCOME - 39.9%
	2,825,621	TIAA-CREF Short-Term Bond Fund		28,962,619
		TOTAL SHORT-TERM FIXED INCOME		28,962,619
U.S. EQUITY - 14.2%
	168,108	TIAA-CREF Growth & Income Fund		2,294,675
	127,432	TIAA-CREF Large-Cap Growth Fund		2,546,091
	156,401	TIAA-CREF Large-Cap Value Fund		2,538,388
	92,140	TIAA-CREF Quant Large-Cap Growth Fund		1,238,359
	37,894	TIAA-CREF Quant Large-Cap Value Fund		374,018
	50,203	TIAA-CREF Quant Small-Cap Equity Fund		837,887
	38,285	TIAA-CREF Quant Small/Mid-Cap Equity Fund		453,299
		TOTAL U.S. EQUITY		10,282,717
		TOTAL AFFILIATED INVESTMENT COMPANIES		72,563,449
		(Cost $71,454,585)
		TOTAL INVESTMENTS - 100.0%		72,563,449
		(Cost $71,454,585)
		OTHER ASSETS & LIABILITIES, NET - 0.0%		16,420
		NET ASSETS - 100.0%	$	72,579,869

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

1

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Conservative Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE CONSERVATIVE FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 100.0%(a)
FIXED INCOME - 39.8%
	2,250,284	TIAA-CREF Bond Fund	$	22,795,373
	6,704,545	TIAA-CREF Bond Plus Fund		68,453,403
		TOTAL FIXED INCOME		91,248,776
INTERNATIONAL EQUITY - 12.0%
	533,824	TIAA-CREF Emerging Markets Equity Fund		5,994,838
	686,191	TIAA-CREF International Equity Fund		7,198,143
	475,602	TIAA-CREF International Opportunities Fund		5,940,264
	662,395	TIAA-CREF Quant International Equity Fund		4,643,386
	371,620	TIAA-CREF Quant International Small-Cap Equity Fund		3,727,350
		TOTAL INTERNATIONAL EQUITY		27,503,981
SHORT-TERM FIXED INCOME - 19.9%
	4,449,234	TIAA-CREF Short-Term Bond Fund		45,604,652
		TOTAL SHORT-TERM FIXED INCOME		45,604,652
U.S. EQUITY - 28.3%
	1,060,728	TIAA-CREF Growth & Income Fund		14,478,937
	803,299	TIAA-CREF Large-Cap Growth Fund		16,049,917
	986,664	TIAA-CREF Large-Cap Value Fund		16,013,551
	513,629	TIAA-CREF Quant Large-Cap Growth Fund		6,903,170
	422,208	TIAA-CREF Quant Large-Cap Value Fund		4,167,191
	262,755	TIAA-CREF Quant Small-Cap Equity Fund		4,385,381
	241,906	TIAA-CREF Quant Small/Mid-Cap Equity Fund		2,864,171
		TOTAL U.S. EQUITY		64,862,318
		TOTAL AFFILIATED INVESTMENT COMPANIES		229,219,727
		(Cost $222,632,313)
		TOTAL INVESTMENTS - 100.0%		229,219,727
		(Cost $222,632,313)
		OTHER ASSETS & LIABILITIES, NET – (0.0)%		(79,950	)
		NET ASSETS - 100.0%	$	229,139,777

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

2

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Moderate Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE MODERATE FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.8%(a)
FIXED INCOME - 39.6%
	13,472,501	TIAA-CREF Bond Plus Fund	$	137,554,238
		TOTAL FIXED INCOME		137,554,238
INTERNATIONAL EQUITY - 17.9%
	1,117,019	TIAA-CREF Emerging Markets Equity Fund		12,544,119
	1,552,290	TIAA-CREF International Equity Fund		16,283,518
	1,077,688	TIAA-CREF International Opportunities Fund		13,460,329
	1,647,004	TIAA-CREF Quant International Equity Fund		11,545,500
	839,760	TIAA-CREF Quant International Small-Cap Equity Fund		8,422,795
		TOTAL INTERNATIONAL EQUITY		62,256,261
U.S. EQUITY - 42.3%
	2,398,850	TIAA-CREF Growth & Income Fund		32,744,296
	1,821,183	TIAA-CREF Large-Cap Growth Fund		36,387,245
	2,229,641	TIAA-CREF Large-Cap Value Fund		36,187,071
	1,111,559	TIAA-CREF Quant Large-Cap Growth Fund		14,939,358
	1,096,285	TIAA-CREF Quant Large-Cap Value Fund		10,820,332
	553,094	TIAA-CREF Quant Small-Cap Equity Fund		9,231,131
	548,098	TIAA-CREF Quant Small/Mid-Cap Equity Fund		6,489,477
		TOTAL U.S. EQUITY		146,798,910
		TOTAL AFFILIATED INVESTMENT COMPANIES		346,609,409
		(Cost $332,124,364)
		TOTAL INVESTMENTS - 99.8%		346,609,409
		(Cost $332,124,364)
		OTHER ASSETS & LIABILITIES, NET - 0.2%		522,244
		NET ASSETS - 100.0%	$	347,131,653

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

3

TIAA-CREF LIFESTYLE FUNDS – Lifestyle Growth Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE GROWTH FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.9%(a)
FIXED INCOME - 19.8%
	3,131,966	TIAA-CREF Bond Plus Fund	$	31,977,376
		TOTAL FIXED INCOME		31,977,376
INTERNATIONAL EQUITY - 23.9%
	665,513	TIAA-CREF Emerging Markets Equity Fund		7,473,712
	964,290	TIAA-CREF International Equity Fund		10,115,407
	670,116	TIAA-CREF International Opportunities Fund		8,369,748
	1,066,726	TIAA-CREF Quant International Equity Fund		7,477,750
	520,602	TIAA-CREF Quant International Small-Cap Equity Fund		5,221,637
		TOTAL INTERNATIONAL EQUITY		38,658,254
U.S. EQUITY - 56.2%
	1,485,479	TIAA-CREF Growth & Income Fund		20,276,788
	1,126,619	TIAA-CREF Large-Cap Growth Fund		22,509,840
	1,382,631	TIAA-CREF Large-Cap Value Fund		22,440,095
	672,553	TIAA-CREF Quant Large-Cap Growth Fund		9,039,118
	723,257	TIAA-CREF Quant Large-Cap Value Fund		7,138,544
	330,047	TIAA-CREF Quant Small-Cap Equity Fund		5,508,490
	338,409	TIAA-CREF Quant Small/Mid-Cap Equity Fund		4,006,760
		TOTAL U.S. EQUITY		90,919,635
		TOTAL AFFILIATED INVESTMENT COMPANIES		161,555,265
		(Cost $152,036,061)
		TOTAL INVESTMENTS - 99.9%		161,555,265
		(Cost $152,036,061)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		119,931
		NET ASSETS - 100.0%	$	161,675,196

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

4

TIAA-CREF FUNDS – Lifestyle Aggressive Growth Fund

TIAA-CREF LIFESTYLE FUNDS

LIFESTYLE AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 99.6%(a)
INTERNATIONAL EQUITY - 29.7%
	584,188	TIAA-CREF Emerging Markets Equity Fund	$	6,560,427
	868,054	TIAA-CREF International Equity Fund		9,105,886
	602,741	TIAA-CREF International Opportunities Fund		7,528,237
	984,128	TIAA-CREF Quant International Equity Fund		6,898,738
	469,450	TIAA-CREF Quant International Small-Cap Equity Fund		4,708,584
		TOTAL INTERNATIONAL EQUITY		34,801,872
U.S. EQUITY - 69.9%
	1,339,081	TIAA-CREF Growth & Income Fund		18,278,451
	1,014,838	TIAA-CREF Large-Cap Growth Fund		20,276,470
	1,245,487	TIAA-CREF Large-Cap Value Fund		20,214,249
	597,406	TIAA-CREF Quant Large-Cap Growth Fund		8,029,134
	675,579	TIAA-CREF Quant Large-Cap Value Fund		6,667,962
	290,681	TIAA-CREF Quant Small-Cap Equity Fund		4,851,470
	305,294	TIAA-CREF Quant Small/Mid-Cap Equity Fund		3,614,686
		TOTAL U.S. EQUITY		81,932,422
		TOTAL AFFILIATED INVESTMENT COMPANIES		116,734,294
		(Cost $109,305,197)
		TOTAL INVESTMENTS - 99.6%		116,734,294
		(Cost $109,305,197)
		OTHER ASSETS & LIABILITIES, NET - 0.4%		475,628
		NET ASSETS - 100.0%	$	117,209,922

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

5

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

Note 1—organization and significant accounting policies

The Lifestyle Funds (collectively the “Funds,” each individually referred to as a “Fund”) are a sub-family of mutual funds offered by the TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, that is registered with the 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.

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 removes or modifies certain disclosures required for fair value measurements. This guidance is effective for fiscal years beginning after December 15, 2019. Management has early implemented this accounting pronouncement for the November 30, 2018 semi-annual report. This implementation did not have a material impact on the Funds’ notes disclosures. Refer to Note 2 for further details.

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 or results of operations.

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 establishment of the liquidity risk management program and the 15% illiquid investment limit, were implemented by the December 1, 2018 compliance date. This portion of the implementation did not have a material impact on the Funds’ financial statements and various filings. In February 2018, the Commission issued Release No. IC-33142, which delayed certain 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 these provisions on the Funds’ financial statements and various filings.

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:

6

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)

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.

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.

As of February 28, 2019, 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^):

										Change in
										unrealized
	Value at		Purchase		Sales		Realized			appreciation			Dividend		Value at
Issue	5/31/18		cost		proceeds		gain (loss)			(depreciation)			income		02/28/19
Lifestyle Income Fund
TIAA-CREF Funds:
Bond	$	14,209	$	2,492	$	2,266	$	(57	)	$	93		$	351	$	14,471
Bond Plus		12,727		3,525		1,837		(30	)		100			341		14,485
Emerging Markets Equity		965		572		324		(11	)		4			6		1,165
Growth & Income		2,204		713		483		162			(143	)		20		2,295
International Equity		1,109		456		187		16			(200	)		24		1,144
International Opportunities		906		268		160		(11	)		(61	)		12		942
Large-Cap Growth		2,602		906		818		327			(209	)		13		2,546
Large-Cap Value		2,332		1,047		527		165			(268	)		47		2,538
Quant International Equity		1,476		330		1,093		(37	)		(114	)		32		520
Quant International Small-Cap Equity		606		187		95		1			(92	)		17		591
Quant Large-Cap Growth		1,115		683		542		89			(43	)		10		1,238
Quant Large-Cap Value		1,018		363		930		(34	)		(21	)		21		374
Quant Small-Cap Equity		585		903		544		95			(84	)		6		838
Quant Small/Mid-Cap Equity		470		139		128		47			(33	)		3		453
Short-Term Bond		28,741		5,373		5,204		(53	)		106			558		28,963
	$	71,065	$	17,957	$	15,138	$	669		$	(965	)	$	1,461	$	72,563

7

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		02/28/19
Lifestyle Conservative Fund
TIAA-CREF Funds:
Bond	$	22,405	$	3,335	$	2,995	$	(103	)	$	153		$	554	$	22,795
Bond Plus		62,517		12,598		6,937		(253	)		529			1,652		68,454
Emerging Markets Equity		5,181		2,176		1,073		28			(107	)		30		5,995
Growth & Income		13,889		3,573		2,086		963			(863	)		131		14,479
International Equity		6,970		2,363		649		167			(1,336	)		155		7,198
International Opportunities		5,733		1,367		689		(55	)		(416	)		74		5,940
Large-Cap Growth		16,373		4,491		3,879		1,888			(1,181	)		84		16,050
Large-Cap Value		14,670		5,499		2,147		1,091			(1,770	)		293		16,014
Quant International Equity		7,515		1,289		3,157		(162	)		(589	)		195		4,643
Quant International Small-Cap Equity		3,811		912		310		24			(606	)		105		3,727
Quant Large-Cap Growth		6,572		2,494		1,954		453			(256	)		66		6,903
Quant Large-Cap Value		5,965		1,382		2,895		(71	)		(77	)		132		4,167
Quant Small-Cap Equity		3,673		3,121		1,817		515			(496	)		30		4,386
Quant Small/Mid-Cap Equity		2,960		704		615		278			(198	)		21		2,864
Short-Term Bond		45,866		7,831		8,167		(95	)		170			884		45,605
	$	224,100	$	53,135	$	39,370	$	4,668		$	(7,043	)	$	4,406	$	229,220
Lifestyle Moderate Fund
TIAA-CREF Funds:
Bond Plus	$	127,212	$	29,774	$	19,903	$	(719	)	$	1,190		$	3,366	$	137,554
Emerging Markets Equity		10,851		4,170		1,822		113			(327	)		62		12,544
Growth & Income		30,837		7,452		3,321		2,099			(2,057	)		297		32,744
International Equity		15,458		5,010		788		528			(3,207	)		350		16,284
International Opportunities		12,708		2,722		853		(93	)		(1,024	)		167		13,460
Large-Cap Growth		36,350		9,239		6,866		4,057			(2,640	)		192		36,387
Large-Cap Value		32,569		11,815		3,468		2,584			(4,289	)		666		36,187
Quant International Equity		15,364		2,931		4,578		(166	)		(1,428	)		443		11,546
Quant International Small-Cap Equity		8,449		2,194		642		71			(1,414	)		237		8,423
Quant Large-Cap Growth		14,275		4,771		3,516		945			(617	)		149		14,939
Quant Large-Cap Value		12,919		2,987		4,534		(56	)		(185	)		305		10,820
Quant Small-Cap Equity		8,158		5,238		2,864		1,141			(1,152	)		64		9,231
Quant Small/Mid-Cap Equity		6,578		1,552		1,179		603			(461	)		48		6,490
	$	331,728	$	89,855	$	54,334	$	11,107		$	(17,611	)	$	6,346	$	346,609
Lifestyle Growth Fund
TIAA-CREF Funds:
Bond Plus	$	28,054	$	10,441	$	6,641	$	(238	)	$	361		$	761	$	31,977
Emerging Markets Equity		6,463		2,889		1,481		21			(155	)		37		7,474
Growth & Income		18,952		5,013		2,253		1,296			(1,324	)		182		20,277
International Equity		9,504		3,647		897		242			(1,935	)		218		10,115
International Opportunities		7,811		2,139		865		(71	)		(644	)		104		8,370
Large-Cap Growth		22,361		6,681		5,026		2,556			(1,731	)		119		22,510
Large-Cap Value		20,020		7,908		2,500		1,565			(2,673	)		414		22,440
Quant International Equity		9,049		2,215		2,472		(39	)		(920	)		273		7,478
Quant International Small-Cap Equity		5,196		1,572		556		12			(856	)		147		5,222
Quant Large-Cap Growth		8,669		2,834		2,063		581			(412	)		92		9,039
Quant Large-Cap Value		7,837		2,068		2,451		(16	)		(107	)		189		7,138
Quant Small-Cap Equity		5,017		3,101		1,811		644			(669	)		38		5,508
Quant Small/Mid-Cap Equity		4,042		1,272		1,012		364			(284	)		30		4,007
	$	152,975	$	51,780	$	30,028	$	6,917		$	(11,349	)	$	2,604	$	161,555

8

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		02/28/19
Lifestyle Aggressive Growth Fund
TIAA-CREF Funds:
Emerging Markets Equity	$	5,505	$	2,512	$	1,154	$	(11	)	$	(87	)	$	29	$	6,561
Growth & Income		17,674		3,532		1,680		1,318			(1,319	)		169		18,278
International Equity		8,899		3,231		1,086		159			(1,699	)		195		9,106
International Opportunities		7,315		1,753		873		(87	)		(580	)		93		7,528
Large-Cap Growth		20,862		4,736		4,013		2,432			(1,679	)		105		20,276
Large-Cap Value		18,701		6,207		2,055		1,567			(2,541	)		367		20,214
Quant International Equity		7,328		2,049		1,389		50			(826	)		240		6,899
Quant International Small-Cap Equity		4,863		1,272		519		5			(781	)		132		4,709
Quant Large-Cap Growth		7,796		2,407		1,879		580			(385	)		80		8,029
Quant Large-Cap Value		7,020		1,873		2,016		44			(87	)		163		6,668
Quant Small-Cap Equity		4,693		2,215		1,349		613			(644	)		33		4,851
Quant Small/Mid-Cap Equity		3,776		850		752		363			(291	)		26		3,615
	$	114,432	$	32,637	$	18,765	$	7,033		$	(10,919	)	$	1,632	$	116,734

^ Some amounts represent less than $1,000.

Note 4—investments

Net unrealized appreciation (depreciation): At February 28, 2019, 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)
Lifestyle Income	$	72,268	$	1,147	$	(852	)	$	295
Lifestyle Conservative		225,583		6,345		(2,708	)		3,637
Lifestyle Moderate		337,720		13,345		(4,456	)		8,889
Lifestyle Growth		155,599		7,562		(1,606	)		5,956
Lifestyle Aggressive Growth		112,030		6,108		(1,404	)		4,704

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.

9

TIAA-CREF FUNDS – Managed Allocation Fund

TIAA-CREF FUNDS

MANAGED ALLOCATION FUND

SCHEDULE OF INVESTMENTS (unaudited)

February 28, 2019

SHARES		SECURITY	VALUE
AFFILIATED INVESTMENT COMPANIES - 100.0%(a)
FIXED INCOME - 39.7%
	32,814,417	TIAA-CREF Bond Plus Fund	$	335,035,195
		TOTAL FIXED INCOME		335,035,195
INTERNATIONAL EQUITY - 18.0%
	2,721,299	TIAA-CREF Emerging Markets Equity Fund		30,560,192
	3,157,217	TIAA-CREF International Equity Fund		33,119,203
	2,632,816	TIAA-CREF International Opportunities Fund		32,883,870
	4,949,335	TIAA-CREF Quant International Equity Fund		34,694,840
	2,047,774	TIAA-CREF Quant International Small-Cap Equity Fund		20,539,171
		TOTAL INTERNATIONAL EQUITY		151,797,276
U.S. EQUITY - 42.3%
	5,480,393	TIAA-CREF Growth & Income Fund		74,807,366
	3,327,163	TIAA-CREF Large-Cap Growth Fund		66,476,726
	4,078,039	TIAA-CREF Large-Cap Value Fund		66,186,571
	4,544,888	TIAA-CREF Quant Large-Cap Growth Fund		61,083,295
	5,189,936	TIAA-CREF Quant Large-Cap Value Fund		51,224,665
	1,374,357	TIAA-CREF Quant Small-Cap Equity Fund		22,938,023
	1,247,839	TIAA-CREF Quant Small/Mid-Cap Equity Fund		14,774,410
		TOTAL U.S. EQUITY		357,491,056
		TOTAL AFFILIATED INVESTMENT COMPANIES		844,323,527
		(Cost $741,480,910)
		TOTAL INVESTMENTS - 100.0%		844,323,527
		(Cost $741,480,910)
		OTHER ASSETS & LIABILITIES, NET - 0.0%		409,718
		NET ASSETS - 100.0%	$	844,733,245

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

1

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

Note 1—organization and significant accounting policies

The TIAA-CREF Managed Allocation Fund (the “Fund”) is one of the investment portfolios of the TIAA-CREF Funds (the “Trust”), a Delaware statutory trust, that is registered with the 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 accompanying Schedule of investments was 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 Fund is an investment company and follows the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services—Investment Companies. The following is a summary of the significant accounting policies consistently followed by the Fund.

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

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

New 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 removes or modifies certain disclosures required for fair value measurements. This guidance is effective for fiscal years beginning after December 15, 2019. Management has early implemented this accounting pronouncement for the November 30, 2018 semi-annual report. This implementation did not have a material impact on the Fund’s notes disclosures. Refer to Note 2 for further details.

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 or results of operations.

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 establishment of the liquidity risk management program and the 15% illiquid investment limit, were implemented by the December 1, 2018 compliance date. This portion of the implementation did not have a material impact on the Fund’s financial statements and various filings. In February 2018, the Commission issued Release No. IC-33142, which delayed certain 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 these provisions on the Fund’s financial statements and various filings.

2

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

Note 2—valuation of investments

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

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

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

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

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

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

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

As of February 28, 2019, 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 2/28/19
Managed Allocation Fund
TIAA-CREF Funds:
Bond Plus	$	333,222	$	41,745	$	40,936	$	(1,062	)	$	2,066		$	8,423	$	335,035
Emerging Markets Equity		28,434		8,722		4,848		374			(1,037	)		153		30,560
Growth & Income		75,757		11,907		8,023		5,816			(5,422	)		697		74,807
International Equity		33,767		8,004		1,613		1,053			(6,620	)		719		33,119
International Opportunities		33,275		5,185		2,815		(197	)		(2,564	)		411		32,884
Large-Cap Growth		71,391		13,212		14,117		9,662			(6,768	)		353		66,477
Large-Cap Value		64,003		16,646		5,935		5,069			(8,022	)		1,228		66,187
Quant International Equity		47,037		6,003		12,128		(95	)		(4,427	)		1,302		34,695
Quant International Small-Cap Equity		22,155		3,610		1,287		312			(3,671	)		586		20,539
Quant Large-Cap Growth		64,090		12,345		12,889		6,500			(4,990	)		644		61,083
Quant Large-Cap Value		57,837		7,300		12,250		619			(939	)		1,319		51,225
Quant Small-Cap Equity		21,855		11,919		7,615		3,524			(3,509	)		160		22,938
Quant Small/Mid-Cap Equity		16,125		2,598		2,936		1,637			(1,260	)		110		14,775
	$	868,948	$	149,196	$	127,392	$	33,212		$	(47,163	)	$	16,105	$	844,324

3

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

Note 4—investments

Net unrealized appreciation (depreciation): At February 28, 2019, 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):

				Gross		Gross		Net unrealized
				unrealized		unrealized		appreciation
Fund		Tax cost		appreciation		(depreciation)		(depreciation)
Managed Allocation	$	751,091	$	95,692	$	(2,459)	$	$93,233
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.

4

Item 2. Controls and Procedures.

(a) An evaluation was performed within 90 days of the filing date of the report under the supervision of the Registrant’s management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures. Based on that evaluation, the Registrant’s management, including the principal executive officer and principal financial officer, concluded that the Registrant’s disclosure controls and procedures were effective for this quarterly reporting period.

(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer

3(b) Section 302 certification of the principal financial officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TIAA-CREF FUNDS
Dated: April 12, 2019	By:	/s/ Bradley Finkle
		Bradley Finkle
		Principal Executive Officer and President

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

Dated: April 12, 2019	By:	/s/ Bradley Finkle
		Bradley Finkle
		Principal Executive Officer and President
		(principal executive officer)

Dated: April 12, 2019	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

EX-99.CERT

Exhibit 3(a)

CERTIFICATION

I, Bradley Finkle, certify that:

1. I have reviewed this report on Form N-Q of the TIAA-CREF Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Dated: April 12, 2019	By:	/s/ Bradley Finkle
		Bradley Finkle
		Principal Executive Officer and President
		(principal executive officer)

Exhibit 3(b)

CERTIFICATION

I, E. Scott Wickerham, certify that:

1. I have reviewed this report on Form N-Q of the TIAA-CREF Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Dated: April 12, 2019	By:	/s/ E. Scott Wickerham
		E. Scott Wickerham
		Principal Financial Officer, Principal
		Accounting Officer and Treasurer
		(principal financial officer)